| IISHARES BROAD USD HIGH YIELD CORPORATE BOND ETFUSHY |
| 14.79% | 15.11% | $307.0M | 8.3M | $261.5M | 7.1M | +1.2M+16.84% | Add |
| SSTATE STREETSPYM |
| 8.42% | 9.15% | $174.8M | 2.0M | $158.5M | 2.1M | -80,797-3.90% | Reduce |
| SSTATE STREET SPDR BLOOMBERG HIGH YIELD BOND ETFJNK |
| 8.17% | 10.54% | $169.7M | 1.8M | $182.5M | 1.9M | -145,600-7.64% | Reduce |
| IISHARES TRHYG |
| 7.66% | 12.36% | $159.0M | 2.0M | $214.0M | 2.7M | -701,400-26.07% | Reduce |
| SSTATE STREETSPHY |
| 6.86% | 5.34% | $142.5M | 6.1M | $92.5M | 4.0M | +2.1M+53.37% | Add |
| SSELECT SECTOR SPDR TRXLRE |
| 6.14% | 2.96% | $127.4M | 3.2M | $51.2M | 1.3M | +1.9M+148.04% | Add |
| IINVESCO EXCH TRADED FD TR IIBKLN |
| 5.02% | 8.93% | $104.3M | 5.1M | $154.6M | 7.6M | -2.5M-32.42% | Reduce |
| PPIMCO ETF TRPYLD |
| 4.19% | — | $87.0M | 3.3M | $0 | 0 | +3.3M | New Buy |
| IISHARES TREMB |
| 3.22% | — | $66.9M | 693,623 | $0 | 0 | +693,623 | New Buy |
 CENTRAL SECS CORPCET |
| 2.2% | 2.65% | $45.7M | 900,978 | $45.9M | 900,978 | 00.00% | Unchanged |
 STAG INDUSTRIAL INCSTAG |
| 2.03% | 2.41% | $42.2M | 1.2M | $41.8M | 1.2M | 00.00% | Unchanged |
| VVANGUARD LONG-TERM CORPORATE BOND INDEX FUND (ETF SHS)VCLT |
| 1.88% | — | $39.1M | 519,400 | $0 | 0 | +519,400 | New Buy |
| VVANECK ETF TRUSTHYD |
| 1.65% | — | $34.3M | 665,700 | $0 | 0 | +665,700 | New Buy |
 ISHARES MBSACGL |
| 1.65% | 2.43% | $34.2M | 361,587 | $42.0M | 442,207 | -80,620-18.23% | Reduce |
| VVANGUARD BD INDEX FDSBLV |
| 1.58% | 1.89% | $32.7M | 475,100 | $32.7M | 475,100 | 00.00% | Unchanged |
| IISHARES TRICVT |
| 1.52% | 2.47% | $31.5M | 258,837 | $42.8M | 420,200 | -161,363-38.40% | Reduce |
| JJPMORGAN CORE PLUS BOND ETFJCPB |
| 1.41% | — | $29.2M | 622,400 | $0 | 0 | +622,400 | New Buy |
| IINVESCO NASDAQ 100 ETFQQQM |
| 1.1% | — | $22.9M | 75,725 | $0 | 0 | +75,725 | New Buy |
| SSPDR SERIES TRUSTHYMB |
| 1.04% | — | $21.6M | 848,826 | $0 | 0 | +848,826 | New Buy |
| IISHARES TRTIP |
| 1% | 0.63% | $20.7M | 189,100 | $10.9M | 98,800 | +90,300+91.40% | Add |
| AAVANTIS U SAVUV |
| 0.91% | 0.38% | $18.9M | 151,814 | $6.5M | 59,164 | +92,650+156.60% | Add |
| PPimco Active Bond ETFBOND |
| 0.91% | 1.09% | $18.8M | 204,100 | $18.8M | 204,100 | 00.00% | Unchanged |
| JJ P MORGAN EXCHANGE TRADED FJBND |
| 0.91% | 1.09% | $18.8M | 351,700 | $18.9M | 351,700 | 00.00% | Unchanged |
 VANECK FALLEN ANGEL HIGHYIELD BOND ETFANGL |
| 0.84% | — | $17.4M | 595,100 | $0 | 0 | +595,100 | New Buy |
| IISHARES INCEWC |
| 0.83% | 0.94% | $17.2M | 297,846 | $16.3M | 297,846 | 00.00% | Unchanged |
| VVANGUARD TOTALBND |
| 0.78% | 3.36% | $16.2M | 221,200 | $58.1M | 789,600 | -568,400-71.99% | Reduce |
| VVANECK JPMEMLC |
| 0.73% | — | $15.1M | 590,594 | $0 | 0 | +590,594 | New Buy |
| IISHARES COREIJH |
| 0.69% | 0.07% | $14.3M | 185,309 | $1.2M | 18,050 | +167,259+926.64% | Add |
| JJANUS DETROIT STR TRJBBB |
| 0.63% | 0.74% | $13.1M | 276,200 | $12.9M | 276,200 | 00.00% | Unchanged |
| VVANGUARD INDEX FDSVBK |
| 0.63% | 0.64% | $13.0M | 35,505 | $11.0M | 36,490 | -985-2.70% | Reduce |
| WWISDOMTREE JAPANDXJ |
| 0.62% | 0.58% | $13.0M | 74,703 | $10.1M | 63,736 | +10,967+17.21% | Add |
| JJPMORGAN BETABUILDERS USD HIGH YIELD CORPORATE BOND ETFBBHY |
| 0.59% | 0.7% | $12.2M | 265,700 | $12.2M | 265,700 | 00.00% | Unchanged |
| GGLOBAL X FDSPFFD |
| 0.54% | — | $11.3M | 605,218 | $0 | 0 | +605,218 | New Buy |
| FFIRST TR EXCHANGE-TRADED FDFPX |
| 0.5% | — | $10.4M | 50,325 | $0 | 0 | +50,325 | New Buy |
| SSTATE STREETXLI |
| 0.45% | — | $9.4M | 50,934 | $0 | 0 | +50,934 | New Buy |
| IISHARES TREFG |
| 0.44% | — | $9.1M | 72,975 | $0 | 0 | +72,975 | New Buy |
| VVANGUARD FSTEVWO |
| 0.43% | — | $8.9M | 148,752 | $0 | 0 | +148,752 | New Buy |
| FFRANKLIN DYNAMIC MUNICIPAL BOND ETFFLMI |
| 0.43% | 0.5% | $8.8M | 351,200 | $8.7M | 351,200 | 00.00% | Unchanged |
| IISHARES MSCI EAFE SMALL-CAP ETFSCZ |
| 0.42% | — | $8.6M | 105,074 | $0 | 0 | +105,074 | New Buy |
| IISHARES TREFV |
| 0.41% | — | $8.5M | 111,377 | $0 | 0 | +111,377 | New Buy |
| FFRANKLIN TEMPLETON ETF TRFLHY |
| 0.35% | — | $7.2M | 298,000 | $0 | 0 | +298,000 | New Buy |
| VVANGUARD INTL EQUITY INDEX FVPL |
| 0.34% | — | $7.0M | 60,138 | $0 | 0 | +60,138 | New Buy |
| IISHARES TRVLUE |
| 0.32% | — | $6.6M | 32,980 | $0 | 0 | +32,980 | New Buy |
| TTHE ALGER ETF TRUSTALAI |
| 0.31% | — | $6.4M | 140,332 | $0 | 0 | +140,332 | New Buy |
| IISHARES TRIDV |
| 0.31% | 0.66% | $6.4M | 153,737 | $11.4M | 267,146 | -113,409-42.45% | Reduce |
| BBNY MELLON ETF TRUSTBKHY |
| 0.3% | 0.36% | $6.3M | 131,600 | $6.2M | 131,600 | 00.00% | Unchanged |
| IISHARES FLOATING RATE BOND ETFFLOT |
| 0.3% | 0.36% | $6.3M | 122,500 | $6.2M | 122,500 | 00.00% | Unchanged |
| FFIRST TRUSTFMHI |
| 0.27% | 0.32% | $5.6M | 116,300 | $5.5M | 116,300 | 00.00% | Unchanged |
| JJANUS HENDERSONJAAA |
| 0.27% | 1.86% | $5.6M | 110,400 | $32.2M | 639,900 | -529,500-82.75% | Reduce |
| VVANGUARD INDEX FDSVTV |
| 0.25% | 1.12% | $5.1M | 23,355 | $19.4M | 98,913 | -75,558-76.39% | Reduce |
