Forefront Analytics, LLC Activity Q4 2017-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
ESGD	Sell	ISHARES TResg aw msci eafe	$23,844,842	-7.0%	344,925	-1.9%	13.52%	-7.5%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$15,970,577	+6.7%	407,309	+10.7%	9.06%	+6.1%
VEA	Buy	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$13,404,018	+7.7%	306,588	+13.7%	7.60%	+7.0%
MTUM	Sell	ISHARES TRmsci usa mmentm	$11,931,553	-14.1%	85,406	-11.3%	6.77%	-14.6%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$9,249,656	+5.6%	21,638	+9.5%	5.24%	+5.0%
LTPZ	Sell	PIMCO ETF TR15+ yr us tips	$8,631,234	-16.1%	164,248	-4.1%	4.90%	-16.5%
ESGG	New	FLEXSHARES TRstox gbl esg slt	$7,811,784	–	57,889	–	4.43%	–
IGF	Sell	ISHARES TRglb infrastr etf	$6,295,138	-11.2%	145,421	-3.7%	3.57%	-11.7%
HDV	Buy	ISHARES TRcore high dv etf	$6,072,746	+5.7%	61,409	+7.8%	3.44%	+5.1%
DBEF	Sell	DBX ETF TRxtrack msci eafe	$5,896,890	-3.5%	168,963	-2.2%	3.34%	-4.1%
WIP	Sell	SPDR SER TRftse int gvt etf	$4,932,116	-9.1%	126,756	-2.4%	2.80%	-9.6%
VNQ	Buy	VANGUARD INDEX FDSreal estate etf	$4,922,401	+6.3%	65,058	+17.4%	2.79%	+5.7%
EMLP	Sell	FIRST TR EXCHANGE-TRADED FDno amer energy	$4,875,691	-6.4%	184,544	-4.3%	2.76%	-6.9%
EDV	Buy	VANGUARD WORLD FDextended dur	$4,761,234	-4.4%	67,987	+18.8%	2.70%	-5.0%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,454,878	+9.1%	88,745	+12.6%	1.96%	+8.4%
LQD	Buy	ISHARES TRiboxx inv cp etf	$3,146,720	+8.0%	30,846	+14.5%	1.78%	+7.3%
EMB	Buy	ISHARES TRjpmorgan usd emg	$2,578,198	+3.6%	31,244	+8.6%	1.46%	+3.0%
BKLN	Buy	INVESCO EXCH TRADED FD TR IIsr ln etf	$2,484,669	+11.2%	118,372	+11.5%	1.41%	+10.6%
VB	Buy	VANGUARD INDEX FDSsmall cp etf	$2,413,941	+6.8%	12,768	+12.4%	1.37%	+6.2%
IVV	Sell	ISHARES TRcore s&p500 etf	$2,412,860	-15.6%	5,620	-12.4%	1.37%	-16.1%
STIP	Buy	ISHARES TR0-5 yr tips etf	$2,079,017	-0.5%	21,451	+0.2%	1.18%	-1.1%
MBB	Buy	ISHARES TRmbs etf	$2,008,922	+14.3%	22,623	+20.1%	1.14%	+13.7%
TIP	Sell	ISHARES TRtips bd etf	$1,896,735	-13.3%	18,288	-10.0%	1.08%	-13.7%
FLRN	Buy	SPDR SER TRbloomberg invt	$1,883,352	+1.0%	61,307	+0.9%	1.07%	+0.4%
DJP	Buy	BARCLAYS BANK PLCdjubs cmdt etn36	$1,703,549	+31.3%	53,004	+24.9%	0.97%	+30.5%
HEEM	Sell	ISHARES INCcur hd msci em	$1,618,276	-10.1%	68,454	-6.7%	0.92%	-10.6%
BNDX	Buy	VANGUARD CHARLOTTE FDStotal int bd etf	$1,578,653	+4.7%	33,006	+7.0%	0.90%	+4.1%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$1,574,168	+1.3%	11,412	+4.3%	0.89%	+0.7%
PDP	Buy	INVESCO EXCHANGE TRADED FD Tdorsey wright mo	$1,492,205	-5.0%	19,382	+0.0%	0.85%	-5.6%
EES	Sell	WISDOMTREE TRus smallcap fund	$1,435,485	-4.9%	33,175	-1.5%	0.81%	-5.5%
SHV	Buy	ISHARES TRshort treas bd	$1,342,612	+0.6%	12,154	+0.6%	0.76%	0.0%
IEF	Sell	ISHARES TR7-10 yr trsy bd	$1,095,317	-53.3%	11,957	-50.8%	0.62%	-53.6%
FLOT	Buy	ISHARES TRfltg rate nt etf	$1,055,978	+1.6%	20,750	+1.5%	0.60%	+1.0%
IEI	Sell	ISHARES TR3 7 yr treas bd	$999,668	-53.6%	8,831	-52.7%	0.57%	-53.8%
XLRE	Buy	SELECT SECTOR SPDR TRrl est sel sec	$946,013	-8.8%	27,766	+0.8%	0.54%	-9.5%
USMV	Buy	ISHARES TRmsci usa min vol	$837,148	+8.6%	11,567	+11.5%	0.48%	+8.0%
BSCU	Buy	INVESCO EXCH TRD SLF IDX FDinvsco 30 corp	$679,590	-2.9%	43,619	+0.9%	0.38%	-3.5%
INDA	New	ISHARES TRmsci india etf	$614,348	–	13,893	–	0.35%	–
TLT	Buy	ISHARES TR20 yr tr bd etf	$534,623	-13.2%	6,028	+0.8%	0.30%	-13.7%
JPM	Buy	JPMORGAN CHASE & CO	$503,534	+0.3%	3,472	+0.6%	0.29%	0.0%
UWM	Buy	PROSHARES TR	$438,356	-12.1%	14,501	+0.1%	0.25%	-12.3%
SCHA	Buy	SCHWAB STRATEGIC TRus sml cap etf	$428,544	-5.1%	10,346	+0.4%	0.24%	-5.8%
DE	Sell	DEERE & CO	$414,049	-6.9%	1,097	-0.1%	0.24%	-7.5%
VWOB	Buy	VANGUARD WHITEHALL FDSem mk gov bd etf	$361,973	-4.1%	6,119	+0.9%	0.20%	-4.7%
RPAR	Sell	TIDAL ETF TRrpar risk pari	$353,238	-17.2%	20,174	-9.1%	0.20%	-17.7%
JNK	Buy	SPDR SER TRbloomberg high y	$285,248	-1.7%	3,155	+0.1%	0.16%	-2.4%
UNH	Sell	UNITEDHEALTH GROUP INC	$274,506	-9.7%	542	-14.0%	0.16%	-9.8%
PFE	Sell	PFIZER INC	$252,731	-10.9%	7,617	-1.5%	0.14%	-11.7%
REGN	Sell	REGENERON PHARMACEUTICALS	$241,130	-1.6%	293	-14.1%	0.14%	-2.1%
INCY	Buy	INCYTE CORP	$204,390	-7.1%	3,538	+0.1%	0.12%	-7.2%
	New	ORCHARD THERAPEUTICS PLCspon ads new	$109,634	–	14,183	–	0.06%	–
	New	ZURA BIO LTD	$95,462	–	14,464	–	0.05%	–
FUSN	Buy	FUSION PHARMACEUTICALS INC	$87,581	-6.6%	33,685	+67.8%	0.05%	-5.7%
MREO	Sell	MEREO BIOPHARMA GROUP PLCspon ads	$84,690	-22.5%	65,649	-20.7%	0.05%	-22.6%
	Buy	JASPER THERAPEUTICS INC	$77,556	-18.4%	110,792	+59.7%	0.04%	-18.5%
ANNX	Buy	ANNEXON INC	$74,766	-20.7%	31,680	+18.3%	0.04%	-22.2%
ACHL	Buy	ACHILLES THERAPEUTICS PLCsponsored ads	$71,126	+0.6%	78,169	+4.5%	0.04%	0.0%
ALXO	New	ALX ONCOLOGY HLDGS INC	$66,092	–	13,769	–	0.04%	–
CTMX	Sell	CYTOMX THERAPEUTICS INC	$63,754	-25.3%	49,421	-0.4%	0.04%	-26.5%
GERN	Buy	GERON CORP	$61,726	+29.1%	29,116	+95.5%	0.04%	+29.6%
PSTX	Sell	POSEIDA THERAPEUTICS INC	$59,428	+26.8%	24,969	-6.2%	0.03%	+25.9%
NKTX	Buy	NKARTA INC	$55,124	+142.8%	39,657	+282.5%	0.03%	+138.5%
KRON	Buy	KRONOS BIO INC	$51,959	-22.7%	39,968	+2.3%	0.03%	-23.7%
	New	THESEUS PHARMACEUTICALS INC	$47,539	–	17,672	–	0.03%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-2,431	–	-0.12%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-427	–	-0.13%	–
ESGE	Exit	ISHARES INCesg awr msci em	$0	–	-8,300	–	-0.15%	–
CGW	Exit	INVESCO EXCH TRADED FD TR IIs&p gbl water	$0	–	-8,964	–	-0.26%	–

Q2 2023

			Value		Shares		↓ Weighting
ESGD	New	ISHARES TResg aw msci eafe	$25,636,392	–	351,518	–	14.62%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$14,967,429	–	367,931	–	8.54%	–
MTUM	New	ISHARES TRmsci usa mmentm	$13,888,471	–	96,278	–	7.92%	–
VEA	New	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$12,448,545	–	269,566	–	7.10%	–
LTPZ	New	PIMCO ETF TR15+ yr us tips	$10,281,901	–	171,251	–	5.86%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$8,759,699	–	19,761	–	5.00%	–
IGF	New	ISHARES TRglb infrastr etf	$7,090,046	–	151,016	–	4.04%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$6,110,653	–	172,761	–	3.49%	–
HDV	New	ISHARES TRcore high dv etf	$5,743,320	–	56,982	–	3.28%	–
WIP	New	SPDR SER TRftse int gvt etf	$5,426,190	–	129,937	–	3.10%	–
EMLP	New	FIRST TR EXCHANGE-TRADED FDno amer energy	$5,206,755	–	192,841	–	2.97%	–
EDV	New	VANGUARD WORLD FDextended dur	$4,981,667	–	57,215	–	2.84%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$4,629,274	–	55,402	–	2.64%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,167,308	–	78,807	–	1.81%	–
LQD	New	ISHARES TRiboxx inv cp etf	$2,914,156	–	26,946	–	1.66%	–
IVV	New	ISHARES TRcore s&p500 etf	$2,857,804	–	6,413	–	1.63%	–
EMB	New	ISHARES TRjpmorgan usd emg	$2,489,272	–	28,764	–	1.42%	–
IEF	New	ISHARES TR7-10 yr trsy bd	$2,346,921	–	24,293	–	1.34%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$2,259,687	–	11,361	–	1.29%	–
BKLN	New	INVESCO EXCH TRADED FD TR IIsr ln etf	$2,233,769	–	106,171	–	1.27%	–
TIP	New	ISHARES TRtips bd etf	$2,186,458	–	20,316	–	1.25%	–
IEI	New	ISHARES TR3 7 yr treas bd	$2,153,535	–	18,682	–	1.23%	–
STIP	New	ISHARES TR0-5 yr tips etf	$2,090,197	–	21,416	–	1.19%	–
FLRN	New	SPDR SER TRbloomberg invt	$1,864,380	–	60,749	–	1.06%	–
HEEM	New	ISHARES INCcur hd msci em	$1,800,502	–	73,370	–	1.03%	–
MBB	New	ISHARES TRmbs etf	$1,757,123	–	18,840	–	1.00%	–
PDP	New	INVESCO EXCHANGE TRADED FD Tdwa momentum	$1,569,947	–	19,375	–	0.90%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$1,554,273	–	10,937	–	0.89%	–
EES	New	WISDOMTREE TRus smallcap fund	$1,509,976	–	33,697	–	0.86%	–
BNDX	New	VANGUARD CHARLOTTE FDStotal int bd etf	$1,507,761	–	30,845	–	0.86%	–
SHV	New	ISHARES TRshort treas bd	$1,334,227	–	12,080	–	0.76%	–
DJP	New	BARCLAYS BANK PLCdjubs cmdt etn36	$1,297,466	–	42,443	–	0.74%	–
FLOT	New	ISHARES TRfltg rate nt etf	$1,039,324	–	20,451	–	0.59%	–
XLRE	New	SELECT SECTOR SPDR TRrl est sel sec	$1,037,835	–	27,537	–	0.59%	–
USMV	New	ISHARES TRmsci usa min vol	$770,746	–	10,370	–	0.44%	–
NVDA	New	NVIDIA CORPORATION	$734,985	–	1,737	–	0.42%	–
BSCU	New	INVESCO EXCH TRD SLF IDX FDinvsco 30 corp	$700,201	–	43,222	–	0.40%	–
TLT	New	ISHARES TR20 yr tr bd etf	$615,912	–	5,983	–	0.35%	–
JPM	New	JPMORGAN CHASE & CO	$501,820	–	3,450	–	0.29%	–
UWM	New	PROSHARES TR	$498,570	–	14,493	–	0.28%	–
CGW	New	INVESCO EXCH TRADED FD TR IIs&p gbl water	$460,841	–	8,964	–	0.26%	–
SCHA	New	SCHWAB STRATEGIC TRus sml cap etf	$451,480	–	10,308	–	0.26%	–
DE	New	DEERE & CO	$444,883	–	1,098	–	0.25%	–
RPAR	New	TIDAL ETF TRrpar risk pari	$426,618	–	22,185	–	0.24%	–
VWOB	New	VANGUARD WHITEHALL FDSem mk gov bd etf	$377,576	–	6,064	–	0.22%	–
REET	New	ISHARES TRglobal reit etf	$340,596	–	14,828	–	0.19%	–
UNH	New	UNITEDHEALTH GROUP INC	$303,910	–	630	–	0.17%	–
JNK	New	SPDR SER TRbloomberg high y	$290,175	–	3,153	–	0.17%	–
PFE	New	PFIZER INC	$283,803	–	7,735	–	0.16%	–
ESGE	New	ISHARES INCesg awr msci em	$262,542	–	8,300	–	0.15%	–
REGN	New	REGENERON PHARMACEUTICALS	$245,021	–	341	–	0.14%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$223,117	–	427	–	0.13%	–
INCY	New	INCYTE CORP	$219,931	–	3,533	–	0.12%	–
MDT	New	MEDTRONIC PLC	$214,213	–	2,431	–	0.12%	–
MREO	New	MEREO BIOPHARMA GROUP PLCspon ads	$109,229	–	82,749	–	0.06%	–
	New	JASPER THERAPEUTICS INC	$95,034	–	69,367	–	0.05%	–
ANNX	New	ANNEXON INC	$94,302	–	26,790	–	0.05%	–
FUSN	New	FUSION PHARMACEUTICALS INC	$93,753	–	20,075	–	0.05%	–
CTMX	New	CYTOMX THERAPEUTICS INC	$85,306	–	49,596	–	0.05%	–
ACHL	New	ACHILLES THERAPEUTICS PLCsponsored ads	$70,673	–	74,769	–	0.04%	–
KRON	New	KRONOS BIO INC	$67,197	–	39,068	–	0.04%	–
ATHA	New	ATHIRA PHARMA INC	$61,391	–	20,810	–	0.04%	–
GERN	New	GERON CORP	$47,802	–	14,891	–	0.03%	–
PSTX	New	POSEIDA THERAPEUTICS INC	$46,850	–	26,619	–	0.03%	–
NKTX	New	NKARTA INC	$22,705	–	10,367	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
NYMT	Exit	NEW YORK MTG TR INC	$0	–	-10,000	–	-0.01%	–
GERN	Exit	GERON CORP	$0	–	-17,586	–	-0.02%	–
CDAK	Exit	CODIAK BIOSCIENCES INC	$0	–	-56,485	–	-0.02%	–
ORTX	Exit	ORCHARD THERAPEUTICS PLCspon ads	$0	–	-100,041	–	-0.03%	–
DM	Exit	DESKTOP METAL INC	$0	–	-21,308	–	-0.03%	–
PSTX	Exit	POSEIDA THERAPEUTICS INC	$0	–	-15,650	–	-0.03%	–
KGC	Exit	KINROSS GOLD CORP	$0	–	-16,000	–	-0.03%	–
PRVB	Exit	PROVENTION BIO INC	$0	–	-14,997	–	-0.04%	–
SURF	Exit	SURFACE ONCOLOGY INC	$0	–	-66,838	–	-0.04%	–
ACHL	Exit	ACHILLES THERAPEUTICS PLCsponsored ads	$0	–	-32,200	–	-0.04%	–
CTMX	Exit	CYTOMX THERAPEUTICS INC	$0	–	-47,869	–	-0.04%	–
	Exit	THESEUS PHARMACEUTICALS INC	$0	–	-13,065	–	-0.04%	–
DYAI	Exit	DYADIC INTL INC DEL	$0	–	-40,546	–	-0.04%	–
	Exit	JASPER THERAPEUTICS INC	$0	–	-119,800	–	-0.05%	–
MREO	Exit	MEREO BIOPHARMA GROUP PLCspon ads	$0	–	-112,800	–	-0.05%	–
ANNX	Exit	ANNEXON INC	$0	–	-16,055	–	-0.05%	–
AGI	Exit	ALAMOS GOLD INC NEW	$0	–	-14,250	–	-0.06%	–
VRNA	Exit	VERONA PHARMA PLCsponsored ads	$0	–	-13,446	–	-0.07%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-315	–	-0.12%	–
ESGE	Exit	ISHARES INCesg awr msci em	$0	–	-8,245	–	-0.12%	–
DBC	Exit	INVESCO DB COMMDY INDX TRCKunit	$0	–	-9,908	–	-0.13%	–
XLE	Exit	SELECT SECTOR SPDR TRenergy	$0	–	-3,698	–	-0.14%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-2,442	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-1,868	–	-0.16%	–
PFE	Exit	PFIZER INC	$0	–	-7,574	–	-0.18%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-662	–	-0.18%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,363	–	-0.19%	–
DE	Exit	DEERE & CO	$0	–	-1,084	–	-0.19%	–
CGW	Exit	INVESCO EXCH TRADED FD TR IIs&p gbl water	$0	–	-8,920	–	-0.20%	–
DBA	Exit	INVESCO DB MULTI-SECTOR COMMagriculture fd	$0	–	-19,484	–	-0.21%	–
JNK	Exit	SPDR SER TRbloomberg high y	$0	–	-5,126	–	-0.24%	–
UWM	Exit	PROSHARES TR	$0	–	-16,797	–	-0.26%	–
FLRN	Exit	SPDR SER TRbloomberg invt	$0	–	-16,362	–	-0.26%	–
RPAR	Exit	TIDAL ETF TRrpar risk pari	$0	–	-51,077	–	-0.47%	–
USMV	Exit	ISHARES TRmsci usa min vol	$0	–	-14,207	–	-0.50%	–
IAU	Exit	ISHARES GOLD TRishares new	$0	–	-31,321	–	-0.53%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-19,729	–	-0.53%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-10,850	–	-0.60%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-14,615	–	-0.75%	–
DJP	Exit	BARCLAYS BANK PLCdjubs cmdt etn36	$0	–	-52,787	–	-0.92%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-11,209	–	-1.02%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-15,946	–	-1.05%	–
MBB	Exit	ISHARES TRmbs etf	$0	–	-21,860	–	-1.07%	–
BNDX	Exit	VANGUARD CHARLOTTE FDStotal int bd etf	$0	–	-44,084	–	-1.12%	–
EES	Exit	WISDOMTREE TRus smallcap fund	$0	–	-56,188	–	-1.17%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-21,223	–	-1.29%	–
IEF	Exit	ISHARES TR7-10 yr trsy bd	$0	–	-29,289	–	-1.50%	–
BKLN	Exit	INVESCO EXCH TRADED FD TR IIsr ln etf	$0	–	-150,077	–	-1.61%	–
EMB	Exit	ISHARES TRjpmorgan usd emg	$0	–	-47,679	–	-2.01%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-36,920	–	-2.02%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-112,258	–	-2.28%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-72,739	–	-3.10%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-16,430	–	-3.14%	–
WIP	Exit	SPDR SER TRftse int gvt etf	$0	–	-156,030	–	-3.32%	–
EDV	Exit	VANGUARD WORLD FDextended dur	$0	–	-75,712	–	-3.50%	–
EMLP	Exit	FIRST TR EXCHANGE-TRADED FDno amer energy	$0	–	-265,120	–	-3.51%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-19,525	–	-3.71%	–
HEEM	Exit	ISHARES INCcur hd msci em	$0	–	-323,537	–	-3.95%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-222,456	–	-3.97%	–
HDV	Exit	ISHARES TRcore high dv etf	$0	–	-88,668	–	-4.31%	–
IGF	Exit	ISHARES TRglb infrastr etf	$0	–	-196,459	–	-4.38%	–
VEA	Exit	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$0	–	-263,021	–	-5.09%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-267,767	–	-5.20%	–
LTPZ	Exit	PIMCO ETF TR15+ yr us tips	$0	–	-205,507	–	-6.14%	–
MTUM	Exit	ISHARES TRmsci usa mmentm	$0	–	-132,581	–	-9.26%	–
NULV	Exit	NUSHARES ETF TRnuveen esg lrgvl	$0	–	-824,875	–	-13.56%	–

Q3 2022

			Value		Shares		↓ Weighting
NULV	Sell	NUSHARES ETF TRnuveen esg lrgvl	$25,464,000	-11.5%	824,875	-4.3%	13.56%	-2.7%
MTUM	Sell	ISHARES TRmsci usa mmentm	$17,386,000	-4.3%	132,581	-0.5%	9.26%	+5.2%
LTPZ	Buy	PIMCO ETF TR15+ yr us tips	$11,523,000	-13.0%	205,507	+1.1%	6.14%	-4.4%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$9,771,000	-11.1%	267,767	+1.5%	5.20%	-2.3%
VEA	Buy	VANGUARD TAX-MANAGED FDSvan ftse dev mkt	$9,564,000	-10.6%	263,021	+0.3%	5.09%	-1.7%
IGF	Sell	ISHARES TRglb infrastr etf	$8,225,000	-10.9%	196,459	-0.6%	4.38%	-2.1%
HDV	Sell	ISHARES TRcore high dv etf	$8,102,000	-11.2%	88,668	-2.3%	4.31%	-2.4%
DBEF	Sell	DBX ETF TRxtrack msci eafe	$7,449,000	-6.4%	222,456	-2.7%	3.97%	+2.9%
HEEM	Sell	ISHARES INCcur hd msci em	$7,412,000	-10.5%	323,537	-0.0%	3.95%	-1.6%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$6,973,000	-5.0%	19,525	+0.3%	3.71%	+4.4%
EMLP	Sell	FIRST TR EXCHANGE-TRADED FDno amer energy	$6,596,000	-3.7%	265,120	-0.4%	3.51%	+5.9%
EDV	Sell	VANGUARD WORLD FDextended dur	$6,563,000	-13.5%	75,712	-0.1%	3.50%	-4.9%
WIP	Buy	SPDR SER TRftse int gvt etf	$6,241,000	-9.2%	156,030	+2.7%	3.32%	-0.2%
IVV	Sell	ISHARES TRcore s&p500 etf	$5,900,000	-7.6%	16,430	-2.4%	3.14%	+1.6%
VNQ	Sell	VANGUARD INDEX FDSreal estate etf	$5,829,000	-20.3%	72,739	-9.4%	3.10%	-12.4%
VNQI	Sell	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$4,278,000	-14.3%	112,258	-0.5%	2.28%	-5.8%
LQD	Buy	ISHARES TRiboxx inv cp etf	$3,790,000	-6.0%	36,920	+0.7%	2.02%	+3.3%
EMB	Sell	ISHARES TRjpmorgan usd emg	$3,776,000	-8.5%	47,679	-1.3%	2.01%	+0.7%
BKLN	Sell	INVESCO EXCH TRADED FD TR IIsr ln etf	$3,028,000	-0.7%	150,077	-0.3%	1.61%	+9.1%
IEF	Buy	ISHARES TR7-10 yr trsy bd	$2,810,000	-6.0%	29,289	+0.2%	1.50%	+3.3%
IEI	Buy	ISHARES TR3 7 yr treas bd	$2,427,000	-3.7%	21,223	+0.4%	1.29%	+5.8%
EES	Sell	WISDOMTREE TRus smallcap fund	$2,202,000	-5.6%	56,188	-0.9%	1.17%	+3.8%
BNDX	Buy	VANGUARD CHARLOTTE FDStotal int bd etf	$2,103,000	-3.4%	44,084	+0.2%	1.12%	+6.2%
MBB	Buy	ISHARES TRmbs etf	$2,003,000	-5.8%	21,860	+0.2%	1.07%	+3.6%
VTV	Sell	VANGUARD INDEX FDSvalue etf	$1,965,000	-8.6%	15,946	-2.0%	1.05%	+0.5%
VB	Buy	VANGUARD INDEX FDSsmall cp etf	$1,916,000	-2.5%	11,209	+0.4%	1.02%	+7.1%
DJP	Sell	BARCLAYS BANK PLCdjubs cmdt etn36	$1,732,000	-6.0%	52,787	-0.6%	0.92%	+3.2%
TIP	Buy	ISHARES TRtips bd etf	$1,136,000	-5.8%	10,850	+2.4%	0.60%	+3.6%
FLOT	Buy	ISHARES TRfltg rate nt etf	$992,000	+1.2%	19,729	+0.4%	0.53%	+11.2%
USMV	Sell	ISHARES TRmsci usa min vol	$941,000	-5.9%	14,207	-0.4%	0.50%	+3.5%
RPAR	Sell	TIDAL ETF TRrpar risk pari	$877,000	-13.2%	51,077	-1.4%	0.47%	-4.5%
FLRN	Buy	SPDR SER TRbloomberg invt	$496,000	+1.2%	16,362	+0.5%	0.26%	+11.4%
UWM	Buy	PROSHARES TR	$482,000	-5.7%	16,797	+1.7%	0.26%	+3.6%
JNK	Buy	SPDR SER TRbloomberg high y	$450,000	+3.4%	5,126	+6.6%	0.24%	+13.7%
DBA	Buy	INVESCO DB MULTI-SECTOR COMMagriculture fd	$390,000	0.0%	19,484	+1.7%	0.21%	+10.1%
DE	Sell	DEERE & CO	$362,000	-6.9%	1,084	-16.7%	0.19%	+2.7%
JPM	Buy	JPMORGAN CHASE & CO	$351,000	-6.4%	3,363	+0.9%	0.19%	+2.7%
UNH	New	UNITEDHEALTH GROUP INC	$339,000	–	662	–	0.18%	–
PFE	Buy	PFIZER INC	$329,000	-5.5%	7,574	+13.1%	0.18%	+3.6%
JNJ	Sell	JOHNSON & JOHNSON	$307,000	-14.5%	1,868	-8.2%	0.16%	-6.3%
NVDA	Buy	NVIDIA CORPORATION	$297,000	-12.9%	2,442	+8.7%	0.16%	-4.2%
XLE	Buy	SELECT SECTOR SPDR TRenergy	$266,000	+3.1%	3,698	+2.4%	0.14%	+13.6%
REGN	New	REGENERON PHARMACEUTICALS	$216,000	–	315	–	0.12%	–
VRNA	Sell	VERONA PHARMA PLCsponsored ads	$138,000	+23.2%	13,446	-50.6%	0.07%	+35.2%
ANNX	Sell	ANNEXON INC	$98,000	+27.3%	16,055	-23.1%	0.05%	+40.5%
MREO	Buy	MEREO BIOPHARMA GROUP PLCspon ads	$96,000	+15.7%	112,800	+48.7%	0.05%	+27.5%
	Buy	JASPER THERAPEUTICS INC	$94,000	+36.2%	119,800	+246.0%	0.05%	+51.5%
DYAI	Sell	DYADIC INTL INC DEL	$77,000	-46.2%	40,546	-13.3%	0.04%	-40.6%
	New	THESEUS PHARMACEUTICALS INC	$74,000	–	13,065	–	0.04%	–
ACHL	New	ACHILLES THERAPEUTICS PLCsponsored ads	$72,000	–	32,200	–	0.04%	–
CTMX	Buy	CYTOMX THERAPEUTICS INC	$71,000	+6.0%	47,869	+33.3%	0.04%	+18.8%
SURF	Buy	SURFACE ONCOLOGY INC	$70,000	-1.4%	66,838	+60.3%	0.04%	+8.8%
PRVB	Sell	PROVENTION BIO INC	$68,000	-19.0%	14,997	-30.0%	0.04%	-12.2%
PSTX	Sell	POSEIDA THERAPEUTICS INC	$59,000	-3.3%	15,650	-33.0%	0.03%	+3.3%
ORTX	Buy	ORCHARD THERAPEUTICS PLCspon ads	$54,000	-6.9%	100,041	+8.0%	0.03%	+3.6%
CDAK	Buy	CODIAK BIOSCIENCES INC	$47,000	-17.5%	56,485	+208.5%	0.02%	-10.7%
GERN	Sell	GERON CORP	$44,000	-25.4%	17,586	-49.4%	0.02%	-20.7%
UBX	Exit	UNITY BIOTECHNOLOGY INC	$0	–	-20,377	–	-0.01%	–
EIGR	Exit	EIGER BIOPHARMACEUTICALS INC	$0	–	-11,527	–	-0.04%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-2,891	–	-0.11%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-4,051	–	-0.12%	–

Q2 2022

			Value		Shares		↓ Weighting
NULV	New	NUSHARES ETF TRnuveen esg lrgvl	$28,776,000	–	862,152	–	13.94%	–
MTUM	New	ISHARES TRmsci usa mmentm	$18,168,000	–	133,198	–	8.80%	–
LTPZ	New	PIMCO ETF TR15+ yr us tips	$13,249,000	–	203,200	–	6.42%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$10,992,000	–	263,911	–	5.32%	–
VEA	New	VANGUARD TAX-MANAGED INTL FDvan ftse dev mkt	$10,698,000	–	262,208	–	5.18%	–
IGF	New	ISHARES TRglb infrastr etf	$9,233,000	–	197,574	–	4.47%	–
HDV	New	ISHARES TRcore high dv etf	$9,123,000	–	90,793	–	4.42%	–
HEEM	New	ISHARES INCcur hd msci em	$8,280,000	–	323,586	–	4.01%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$7,962,000	–	228,691	–	3.86%	–
EDV	New	VANGUARD WORLD FDextended dur	$7,590,000	–	75,753	–	3.68%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$7,342,000	–	19,459	–	3.56%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$7,315,000	–	80,265	–	3.54%	–
WIP	New	SPDR SER TRftse int gvt etf	$6,873,000	–	151,984	–	3.33%	–
EMLP	New	FIRST TR EXCHANGE-TRADED FDno amer energy	$6,848,000	–	266,083	–	3.32%	–
IVV	New	ISHARES TRcore s&p500 etf	$6,384,000	–	16,842	–	3.09%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$4,993,000	–	112,797	–	2.42%	–
EMB	New	ISHARES TRjpmorgan usd emg	$4,125,000	–	48,311	–	2.00%	–
LQD	New	ISHARES TRiboxx inv cp etf	$4,033,000	–	36,663	–	1.95%	–
BKLN	New	INVESCO EXCH TRADED FD TR IIsr ln etf	$3,050,000	–	150,457	–	1.48%	–
IEF	New	ISHARES TR7-10 yr trsy bd	$2,990,000	–	29,232	–	1.45%	–
IEI	New	ISHARES TR3 7 yr treas bd	$2,520,000	–	21,132	–	1.22%	–
EES	New	WISDOMTREE TRus smallcap fund	$2,332,000	–	56,680	–	1.13%	–
BNDX	New	VANGUARD CHARLOTTE FDStotal int bd etf	$2,177,000	–	43,996	–	1.06%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$2,149,000	–	16,277	–	1.04%	–
MBB	New	ISHARES TRmbs etf	$2,127,000	–	21,816	–	1.03%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$1,966,000	–	11,167	–	0.95%	–
DJP	New	BARCLAYS BANK PLCdjubs cmdt etn36	$1,843,000	–	53,121	–	0.89%	–
STIP	New	ISHARES TR0-5 yr tips etf	$1,482,000	–	14,615	–	0.72%	–
TIP	New	ISHARES TRtips bd etf	$1,206,000	–	10,592	–	0.58%	–
IAU	New	ISHARES GOLD TRishares new	$1,074,000	–	31,321	–	0.52%	–
RPAR	New	TIDAL ETF TRrpar risk pari	$1,010,000	–	51,814	–	0.49%	–
USMV	New	ISHARES TRmsci usa min vol	$1,000,000	–	14,270	–	0.48%	–
FLOT	New	ISHARES TRfltg rate nt etf	$980,000	–	19,641	–	0.48%	–
UWM	New	PROSHARES TR	$511,000	–	16,523	–	0.25%	–
FLRN	New	SPDR SER TRbloomberg invt	$490,000	–	16,274	–	0.24%	–
JNK	New	SPDR SER TRbloomberg high y	$435,000	–	4,808	–	0.21%	–
CGW	New	INVESCO EXCH TRADED FD TR IIs&p gbl water	$393,000	–	8,920	–	0.19%	–
DBA	New	INVESCO DB MULTI-SECTOR COMMagriculture fd	$390,000	–	19,153	–	0.19%	–
DE	New	DEERE & CO	$389,000	–	1,302	–	0.19%	–
JPM	New	JPMORGAN CHASE & CO	$375,000	–	3,334	–	0.18%	–
JNJ	New	JOHNSON & JOHNSON	$359,000	–	2,034	–	0.17%	–
PFE	New	PFIZER INC	$348,000	–	6,694	–	0.17%	–
NVDA	New	NVIDIA CORPORATION	$341,000	–	2,246	–	0.16%	–
ESGE	New	ISHARES INCesg awr msci em	$266,000	–	8,245	–	0.13%	–
DBC	New	INVESCO DB COMMDY INDX TRCKunit	$264,000	–	9,908	–	0.13%	–
XLE	New	SELECT SECTOR SPDR TRenergy	$258,000	–	3,612	–	0.12%	–
GILD	New	GILEAD SCIENCES INC	$251,000	–	4,051	–	0.12%	–
HSIC	New	HENRY SCHEIN INC	$223,000	–	2,891	–	0.11%	–
DYAI	New	DYADIC INTL INC DEL	$143,000	–	46,771	–	0.07%	–
VRNA	New	VERONA PHARMA PLCsponsored ads	$112,000	–	27,196	–	0.05%	–
AGI	New	ALAMOS GOLD INC NEW	$100,000	–	14,250	–	0.05%	–
PRVB	New	PROVENTION BIO INC	$84,000	–	21,427	–	0.04%	–
MREO	New	MEREO BIOPHARMA GROUP PLCads	$83,000	–	75,850	–	0.04%	–
ANNX	New	ANNEXON INC	$77,000	–	20,885	–	0.04%	–
EIGR	New	EIGER BIOPHARMACEUTICALS INC	$73,000	–	11,527	–	0.04%	–
SURF	New	SURFACE ONCOLOGY INC	$71,000	–	41,688	–	0.03%	–
	New	JASPER THERAPEUTICS INC	$69,000	–	34,625	–	0.03%	–
CTMX	New	CYTOMX THERAPEUTICS INC	$67,000	–	35,919	–	0.03%	–
PSTX	New	POSEIDA THERAPEUTICS INC	$61,000	–	23,370	–	0.03%	–
GERN	New	GERON CORP	$59,000	–	34,736	–	0.03%	–
ORTX	New	ORCHARD THERAPEUTICS PLCads	$58,000	–	92,641	–	0.03%	–
KGC	New	KINROSS GOLD CORP	$57,000	–	16,000	–	0.03%	–
CDAK	New	CODIAK BIOSCIENCES INC	$57,000	–	18,310	–	0.03%	–
DM	New	DESKTOP METAL INC	$47,000	–	21,308	–	0.02%	–
NYMT	New	NEW YORK MTG TR INC	$28,000	–	10,000	–	0.01%	–
UBX	New	UNITY BIOTECHNOLOGY INC	$11,000	–	20,377	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-2,000	–	0.00%	–
NVDA	Exit	NVIDIA CORPORATIONcall	$0	–	-200	–	-0.00%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-2,000	–	-0.01%	–
PEI	Exit	PENNSYLVANIA REAL ESTATE INVsh ben int	$0	–	-10,000	–	-0.01%	–
NYMT	Exit	NEW YORK MTG TR INC	$0	–	-10,000	–	-0.02%	–
CTMX	Exit	CYTOMX THERAPEUTICS INC	$0	–	-13,394	–	-0.02%	–
EIGR	Exit	EIGER BIOPHARMACEUTICALS INC	$0	–	-10,077	–	-0.02%	–
PSTX	Exit	POSEIDA THERAPEUTICS INC	$0	–	-10,345	–	-0.03%	–
KGC	Exit	KINROSS GOLD CORP	$0	–	-16,000	–	-0.03%	–
AGI	Exit	ALAMOS GOLD INC NEW	$0	–	-14,250	–	-0.04%	–
GERN	Exit	GERON CORP	$0	–	-82,336	–	-0.04%	–
ORTX	Exit	ORCHARD THERAPEUTICS PLCads	$0	–	-51,066	–	-0.04%	–
PRVB	Exit	PROVENTION BIO INC	$0	–	-21,102	–	-0.05%	–
DYAI	Exit	DYADIC INTL INC DEL	$0	–	-31,671	–	-0.06%	–
VRNA	Exit	VERONA PHARMA PLCsponsored ads	$0	–	-33,156	–	-0.07%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-1,348	–	-0.07%	–
ESGD	Exit	ISHARES TResg aw msci eafe	$0	–	-2,721	–	-0.08%	–
REGN	Exit	REGENERON PHARMACEUTICALS	$0	–	-382	–	-0.08%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-3,440	–	-0.09%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-2,407	–	-0.09%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-3,478	–	-0.09%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-2,750	–	-0.09%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-5,756	–	-0.09%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-494	–	-0.10%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-1,855	–	-0.11%	–
ESGE	Exit	ISHARES INCesg awr msci em	$0	–	-7,932	–	-0.12%	–
JNK	Exit	SPDR SER TRbloomberg brclys	$0	–	-3,077	–	-0.12%	–
DE	Exit	DEERE & CO	$0	–	-1,304	–	-0.16%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-2,163	–	-0.16%	–
SSO	Exit	PROSHARES TR	$0	–	-4,605	–	-0.20%	–
UWM	Exit	PROSHARES TR	$0	–	-10,369	–	-0.20%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,800	–	-0.23%	–
IAU	Exit	ISHARES GOLD TRishares new	$0	–	-25,571	–	-0.31%	–
FLRN	Exit	SPDR SER TRblomberg brc inv	$0	–	-29,343	–	-0.33%	–
RPAR	Exit	TIDAL ETF TRrpar risk pari	$0	–	-42,592	–	-0.38%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-4,737	–	-0.38%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-15,119	–	-0.48%	–
ORCC	Exit	OWL ROCK CAPITAL CORPORATION	$0	–	-114,865	–	-0.59%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-35,394	–	-0.66%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-18,762	–	-0.93%	–
USMV	Exit	ISHARES TRmsci usa min vol	$0	–	-35,472	–	-0.95%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-26,464	–	-1.02%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-23,080	–	-1.10%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-56,538	–	-1.16%	–
MBB	Exit	ISHARES TRmbs etf	$0	–	-30,156	–	-1.19%	–
BKLN	Exit	INVESCO EXCH TRADED FD TR IIsr ln etf	$0	–	-158,852	–	-1.28%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-30,490	–	-1.48%	–
BNDX	Exit	VANGUARD CHARLOTTE FDStotal int bd etf	$0	–	-73,196	–	-1.52%	–
SHE	Exit	SPDR SER TRssga gnder etf	$0	–	-45,964	–	-1.69%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-105,955	–	-1.93%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-42,076	–	-1.96%	–
EDV	Exit	VANGUARD WORLD FDextended dur	$0	–	-43,493	–	-2.15%	–
WIP	Exit	SPDR SER TRftse int gvt etf	$0	–	-127,240	–	-2.52%	–
DJP	Exit	BARCLAYS BANK PLCdjubs cmdt etn36	$0	–	-238,807	–	-2.55%	–
EES	Exit	WISDOMTREE TRus smallcap fund	$0	–	-184,423	–	-3.25%	–
IEF	Exit	ISHARES TRbarclays 7 10 yr	$0	–	-80,536	–	-3.38%	–
IGF	Exit	ISHARES TRglb infrastr etf	$0	–	-204,244	–	-3.42%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-97,273	–	-3.61%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$0	–	-218,717	–	-4.03%	–
HEEM	Exit	ISHARES INCcur hd msci em	$0	–	-377,412	–	-4.19%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-28,369	–	-4.46%	–
EMB	Exit	ISHARES TRjpmorgan usd emg	$0	–	-115,335	–	-4.63%	–
LTPZ	Exit	PIMCO ETF TR15+ yr us tips	$0	–	-150,124	–	-4.75%	–
HDV	Exit	ISHARES TRcore high dv etf	$0	–	-140,263	–	-4.82%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-33,626	–	-5.26%	–
EMLP	Exit	FIRST TR EXCHANGE-TRADED FDno amer energy	$0	–	-656,254	–	-5.66%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-426,446	–	-5.87%	–
MTUM	Exit	ISHARES TRmsci usa mmentm	$0	–	-96,446	–	-6.18%	–
CGW	Exit	INVESCO EXCH TRADED FD TR IIs&p gbl water	$0	–	-364,520	–	-7.42%	–

Q3 2021

			Value		Shares		↓ Weighting
CGW	Buy	INVESCO EXCH TRADED FD TR IIs&p gbl water	$20,358,000	+3594.7%	364,520	+3445.2%	7.42%	+3304.1%
MTUM	Buy	ISHARES TRmsci usa mmentm	$16,939,000	+2.0%	96,446	+0.7%	6.18%	-6.3%
DBEF	Buy	DBX ETF TRxtrack msci eafe	$16,103,000	+6.7%	426,446	+6.0%	5.87%	-2.0%
EMLP	Buy	FIRST TR EXCHANGE-TRADED FDno amer energy	$15,535,000	-1.9%	656,254	+1.4%	5.66%	-9.8%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$14,430,000	+0.6%	33,626	+0.3%	5.26%	-7.5%
HDV	Buy	ISHARES TRcore high dv etf	$13,223,000	-2.0%	140,263	+0.4%	4.82%	-10.0%
LTPZ	Buy	PIMCO ETF TR15+ yr us tips	$13,023,000	+2.8%	150,124	+2.4%	4.75%	-5.5%
EMB	Buy	ISHARES TRjpmorgan usd emg	$12,696,000	-1.2%	115,335	+0.9%	4.63%	-9.2%
IVV	Sell	ISHARES TRcore s&p500 etf	$12,222,000	-0.2%	28,369	-0.4%	4.46%	-8.3%
HEEM	Buy	ISHARES INCcur hd msci em	$11,504,000	-2.2%	377,412	+6.1%	4.19%	-10.0%
VEA	Buy	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$11,043,000	-1.6%	218,717	+0.4%	4.03%	-9.5%
VNQ	Buy	VANGUARD INDEX FDSreal estate etf	$9,902,000	+4.0%	97,273	+4.1%	3.61%	-4.3%
IGF	Buy	ISHARES TRglb infrastr etf	$9,373,000	+3.7%	204,244	+2.6%	3.42%	-4.6%
IEF	Buy	ISHARES TRbarclays 7 10 yr	$9,267,000	+0.1%	80,536	+0.4%	3.38%	-8.0%
EES	Buy	WISDOMTREE TRus smallcap fund	$8,917,000	-0.3%	184,423	+1.9%	3.25%	-8.3%
DJP	Buy	BARCLAYS BANK PLCdjubs cmdt etn36	$6,988,000	+8.6%	238,807	+1.0%	2.55%	-0.1%
WIP	Buy	SPDR SER TRftse int gvt etf	$6,925,000	-0.3%	127,240	+3.4%	2.52%	-8.3%
EDV	Buy	VANGUARD WORLD FDextended dur	$5,895,000	+1.2%	43,493	+1.1%	2.15%	-6.9%
TIP	Buy	ISHARES TRtips bd etf	$5,373,000	+2.3%	42,076	+2.5%	1.96%	-6.0%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,299,000	-7.1%	105,955	+0.9%	1.93%	-14.6%
SHE	New	SPDR SER TRssga gnder etf	$4,643,000	–	45,964	–	1.69%	–
BNDX	Buy	VANGUARD CHARLOTTE FDStotal int bd etf	$4,167,000	+1.1%	73,196	+1.4%	1.52%	-7.0%
LQD	Buy	ISHARES TRiboxx inv cp etf	$4,061,000	+0.7%	30,490	+1.7%	1.48%	-7.4%
BKLN	Buy	INVESCO EXCH TRADED FD TR IIsr ln etf	$3,511,000	+0.9%	158,852	+1.0%	1.28%	-7.2%
MBB	Buy	ISHARES TRmbs etf	$3,264,000	+0.9%	30,156	+1.1%	1.19%	-7.2%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,189,000	+3.6%	56,538	+7.4%	1.16%	-4.8%
IEI	Buy	ISHARES TR3 7 yr treas bd	$3,003,000	+0.7%	23,080	+1.0%	1.10%	-7.4%
USMV	Buy	ISHARES TRmsci usa min vol	$2,602,000	+0.7%	35,472	+0.9%	0.95%	-7.4%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$2,544,000	+1.6%	18,762	+3.1%	0.93%	-6.6%
FLOT	Buy	ISHARES TRfltg rate nt etf	$1,799,000	+0.1%	35,394	+0.1%	0.66%	-8.0%
ORCC	Buy	OWL ROCK CAPITAL CORPORATION	$1,622,000	+1.1%	114,865	+2.1%	0.59%	-7.1%
HYG	Buy	ISHARES TRiboxx hi yd etf	$1,324,000	+2.7%	15,119	+3.5%	0.48%	-5.5%
VB	Buy	VANGUARD INDEX FDSsmall cp etf	$1,036,000	-2.7%	4,737	+0.2%	0.38%	-10.4%
RPAR	Buy	TIDAL ETF TRrpar risk pari	$1,034,000	+3.4%	42,592	+4.5%	0.38%	-5.0%
FLRN	Buy	SPDR SER TRblomberg brc inv	$900,000	+0.1%	29,343	+0.1%	0.33%	-7.9%
JPM	Buy	JPMORGAN CHASE & CO	$622,000	+7.1%	3,800	+1.8%	0.23%	-1.3%
UWM	Sell	PROSHARES TR	$561,000	-11.5%	10,369	-2.4%	0.20%	-18.3%
SSO	Buy	PROSHARES TR	$552,000	+44.1%	4,605	+44.0%	0.20%	+32.2%
NVDA	Buy	NVIDIA CORPORATION	$448,000	+10.6%	2,163	+327.5%	0.16%	+1.2%
DE	Buy	DEERE & CO	$436,000	-4.2%	1,304	+1.3%	0.16%	-11.7%
JNK	Buy	SPDR SER TRbloomberg brclys	$337,000	0.0%	3,077	+0.4%	0.12%	-8.2%
ESGE	Buy	ISHARES INCesg awr msci em	$328,000	-8.4%	7,932	+0.1%	0.12%	-15.5%
JNJ	Buy	JOHNSON & JOHNSON	$299,000	+1.0%	1,855	+3.7%	0.11%	-6.8%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$283,000	+8.8%	494	-3.9%	0.10%	0.0%
JD	New	JD.COM INCspon adr cl a	$251,000	–	3,478	–	0.09%	–
PDD	New	PINDUODUO INCsponsored ads	$249,000	–	2,750	–	0.09%	–
GILD	Sell	GILEAD SCIENCES INC	$243,000	-17.3%	3,440	-19.3%	0.09%	-23.9%
REGN	Sell	REGENERON PHARMACEUTICALS	$233,000	-0.9%	382	-9.5%	0.08%	-8.6%
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$200,000	–	1,348	–	0.07%	–
VRNA	Buy	VERONA PHARMA PLCsponsored ads	$181,000	+74.0%	33,156	+113.8%	0.07%	+61.0%
DYAI	Buy	DYADIC INTL INC DEL	$178,000	+58.9%	31,671	+1.4%	0.06%	+47.7%
PRVB	New	PROVENTION BIO INC	$135,000	–	21,102	–	0.05%	–
ORTX	Buy	ORCHARD THERAPEUTICS PLCads	$118,000	+57.3%	51,066	+195.3%	0.04%	+43.3%
GERN	Buy	GERON CORP	$113,000	+4.6%	82,336	+7.6%	0.04%	-4.7%
AGI	Sell	ALAMOS GOLD INC NEW	$102,000	-53.2%	14,250	-50.0%	0.04%	-57.0%
KGC	Sell	KINROSS GOLD CORP	$86,000	-57.6%	16,000	-50.0%	0.03%	-61.2%
PSTX	New	POSEIDA THERAPEUTICS INC	$72,000	–	10,345	–	0.03%	–
CTMX	New	CYTOMX THERAPEUTICS INC	$68,000	–	13,394	–	0.02%	–
EIGR	Buy	EIGER BIOPHARMACEUTICALS INC	$68,000	-17.1%	10,077	+0.5%	0.02%	-24.2%
SPY	New	SPDR S&P 500 ETF TRput	$14,000	–	2,000	–	0.01%	–
NVDA	New	NVIDIA CORPORATIONcall	$7,000	–	200	–	0.00%	–
SPY	Sell	SPDR S&P 500 ETF TRcall	$0	-100.0%	2,000	-60.0%	0.00%	-100.0%
AEM	Exit	AGNICO EAGLE MINES LTD	$0	–	-3,350	–	-0.08%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-2,808	–	-0.08%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-10,000	–	-0.08%	–
NEM	Exit	NEWMONT CORP	$0	–	-3,700	–	-0.09%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-2,827	–	-0.09%	–
FNV	Exit	FRANCO NEV CORP	$0	–	-1,900	–	-0.11%	–
TAN	Exit	INVESCO EXCH TRADED FD TR IIsolar etf	$0	–	-43,277	–	-1.53%	–

Q2 2021

			Value		Shares		↓ Weighting
MTUM	New	ISHARES TRmsci usa mmentm	$16,615,000	–	95,809	–	6.59%	–
EMLP	New	FIRST TR EXCHANGE-TRADED FDno amer energy	$15,829,000	–	647,222	–	6.28%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$15,098,000	–	402,277	–	5.99%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$14,347,000	–	33,516	–	5.69%	–
HDV	New	ISHARES TRcore high dv etf	$13,499,000	–	139,770	–	5.35%	–
EMB	New	ISHARES TRjpmorgan usd emg	$12,856,000	–	114,303	–	5.10%	–
LTPZ	New	PIMCO ETF TR15+ yr us tips	$12,671,000	–	146,639	–	5.02%	–
IVV	New	ISHARES TRcore s&p500 etf	$12,247,000	–	28,488	–	4.86%	–
HEEM	New	ISHARES INCcur hd msci em	$11,757,000	–	355,590	–	4.66%	–
VEA	New	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$11,225,000	–	217,876	–	4.45%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$9,517,000	–	93,427	–	3.77%	–
IEF	New	ISHARES TRbarclays 7 10 yr	$9,257,000	–	80,240	–	3.67%	–
IGF	New	ISHARES TRglb infrastr etf	$9,035,000	–	199,118	–	3.58%	–
EES	New	WISDOMTREE TRus smallcap fund	$8,942,000	–	180,948	–	3.55%	–
WIP	New	SPDR SER TRftse int gvt etf	$6,943,000	–	123,001	–	2.75%	–
DJP	New	BARCLAYS BANK PLCdjubs cmdt etn36	$6,432,000	–	236,342	–	2.55%	–
EDV	New	VANGUARD WORLD FDextended dur	$5,824,000	–	43,041	–	2.31%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$5,701,000	–	104,974	–	2.26%	–
TIP	New	ISHARES TRtips bd etf	$5,253,000	–	41,036	–	2.08%	–
BNDX	New	VANGUARD CHARLOTTE FDSintl bd idx etf	$4,122,000	–	72,169	–	1.63%	–
LQD	New	ISHARES TRiboxx inv cp etf	$4,033,000	–	29,975	–	1.60%	–
TAN	New	INVESCO EXCH TRADED FD TR IIsolar etf	$3,869,000	–	43,277	–	1.53%	–
BKLN	New	INVESCO EXCH TRADED FD TR IIsr ln etf	$3,480,000	–	157,227	–	1.38%	–
MBB	New	ISHARES TRmbs etf	$3,234,000	–	29,834	–	1.28%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,079,000	–	52,633	–	1.22%	–
IEI	New	ISHARES TR3 7 yr treas bd	$2,981,000	–	22,849	–	1.18%	–
STIP	New	ISHARES TR0-5 yr tips etf	$2,813,000	–	26,464	–	1.12%	–
USMV	New	ISHARES TRmsci usa min vol	$2,584,000	–	35,153	–	1.02%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$2,503,000	–	18,191	–	0.99%	–
FLOT	New	ISHARES TRfltg rate nt etf	$1,797,000	–	35,360	–	0.71%	–
ORCC	New	OWL ROCK CAPITAL CORPORATION	$1,605,000	–	112,495	–	0.64%	–
HYG	New	ISHARES TRiboxx hi yd etf	$1,289,000	–	14,610	–	0.51%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$1,065,000	–	4,726	–	0.42%	–
RPAR	New	TIDAL ETF TRrpar risk pari	$1,000,000	–	40,773	–	0.40%	–
FLRN	New	SPDR SER TRblomberg brc inv	$899,000	–	29,316	–	0.36%	–
IAU	New	ISHARES GOLD TRishares new	$862,000	–	25,571	–	0.34%	–
UWM	New	PROSHARES TR	$634,000	–	10,619	–	0.25%	–
JPM	New	JPMORGAN CHASE & CO	$581,000	–	3,732	–	0.23%	–
CGW	New	INVESCO EXCH TRADED FD TR IIs&p gbl water	$551,000	–	10,282	–	0.22%	–
DE	New	DEERE & CO	$455,000	–	1,287	–	0.18%	–
NVDA	New	NVIDIA CORPORATION	$405,000	–	506	–	0.16%	–
SSO	New	PROSHARES TR	$383,000	–	3,198	–	0.15%	–
ESGE	New	ISHARES INCesg awr msci em	$358,000	–	7,927	–	0.14%	–
JNK	New	SPDR SER TRbloomberg brclys	$337,000	–	3,065	–	0.13%	–
GILD	New	GILEAD SCIENCES INC	$294,000	–	4,265	–	0.12%	–
JNJ	New	JOHNSON & JOHNSON	$296,000	–	1,788	–	0.12%	–
UBER	New	UBER TECHNOLOGIES INC	$288,000	–	5,756	–	0.11%	–
FNV	New	FRANCO NEV CORP	$276,000	–	1,900	–	0.11%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$260,000	–	514	–	0.10%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$249,000	–	2,407	–	0.10%	–
CVS	New	CVS HEALTH CORP	$237,000	–	2,827	–	0.09%	–
NEM	New	NEWMONT CORP	$235,000	–	3,700	–	0.09%	–
REGN	New	REGENERON PHARMACEUTICALS	$235,000	–	422	–	0.09%	–
AGI	New	ALAMOS GOLD INC NEW	$218,000	–	28,500	–	0.09%	–
ESGD	New	ISHARES TResg aw msci eafe	$216,000	–	2,721	–	0.09%	–
HSIC	New	HENRY SCHEIN INC	$206,000	–	2,808	–	0.08%	–
GOLD	New	BARRICK GOLD CORP	$207,000	–	10,000	–	0.08%	–
KGC	New	KINROSS GOLD CORP	$203,000	–	32,000	–	0.08%	–
AEM	New	AGNICO EAGLE MINES LTD	$203,000	–	3,350	–	0.08%	–
DYAI	New	DYADIC INTL INC DEL	$112,000	–	31,246	–	0.04%	–
GERN	New	GERON CORP	$108,000	–	76,486	–	0.04%	–
VRNA	New	VERONA PHARMA PLCsponsored ads	$104,000	–	15,506	–	0.04%	–
EIGR	New	EIGER BIOPHARMACEUTICALS INC	$82,000	–	10,027	–	0.03%	–
ORTX	New	ORCHARD THERAPEUTICS PLCads	$75,000	–	17,291	–	0.03%	–
SPY	New	SPDR S&P 500 ETF TRcall	$51,000	–	5,000	–	0.02%	–
NYMT	New	NEW YORK MTG TR INC	$45,000	–	10,000	–	0.02%	–
PEI	New	PENNSYLVANIA REAL ESTATE INVsh ben int	$25,000	–	10,000	–	0.01%	–

Q4 2020

			Value		Shares		↓ Weighting
PEI	Exit	PENNSYLVANIA REAL ESTATE INVsh ben int	$0	–	-10,000	–	-0.00%	–
NYMT	Exit	NEW YORK MTG TR INC	$0	–	-10,000	–	-0.01%	–
DVAX	Exit	DYNAVAX TECHNOLOGIES CORP	$0	–	-17,202	–	-0.03%	–
GERN	Exit	GERON CORP	$0	–	-63,930	–	-0.05%	–
OSMT	Exit	OSMOTICA PHARMACEUTICALS PLC	$0	–	-20,655	–	-0.05%	–
ORTX	Exit	ORCHARD THERAPEUTICS PLCads	$0	–	-30,369	–	-0.06%	–
DYAI	Exit	DYADIC INTL INC DEL	$0	–	-22,681	–	-0.08%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-5,756	–	-0.10%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,014	–	-0.10%	–
BNTX	Exit	BIONTECH SEsponsored ads	$0	–	-3,274	–	-0.10%	–
SNY	Exit	SANOFIsponsored adr	$0	–	-4,506	–	-0.11%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-1,547	–	-0.11%	–
DE	Exit	DEERE & CO	$0	–	-1,061	–	-0.11%	–
JNK	Exit	SPDR SER TRbloomberg brclys	$0	–	-2,590	–	-0.13%	–
ESGE	Exit	ISHARES INCesg awr msci em	$0	–	-7,823	–	-0.13%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,176	–	-0.14%	–
SSO	Exit	PROSHARES TR	$0	–	-5,602	–	-0.19%	–
CGW	Exit	INVESCO EXCH TRADED FD TR IIs&p gbl water	$0	–	-10,139	–	-0.20%	–
AAPL	Exit	APPLE INC	$0	–	-3,734	–	-0.20%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-925	–	-0.23%	–
LYFT	Exit	LYFT INC	$0	–	-24,137	–	-0.31%	–
IAU	Exit	ISHARES GOLD TRUSTishares	$0	–	-38,097	–	-0.32%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-4,679	–	-0.34%	–
UWM	Exit	PROSHARES TR	$0	–	-14,393	–	-0.36%	–
FLRN	Exit	SPDR SER TRblomberg brc inv	$0	–	-29,206	–	-0.42%	–
ORCC	Exit	OWL ROCK CAPITAL CORPORATION	$0	–	-109,957	–	-0.62%	–
BKLN	Exit	INVESCO EXCH TRADED FD TR IIsr ln etf	$0	–	-65,482	–	-0.66%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-35,226	–	-0.83%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-19,444	–	-0.95%	–
VCLT	Exit	VANGUARD SCOTTSDALE FDSlg-term cor bd	$0	–	-19,511	–	-0.97%	–
USMV	Exit	ISHARES TRmsci usa min vol	$0	–	-34,687	–	-1.03%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-26,630	–	-1.04%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-26,464	–	-1.29%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-58,500	–	-1.33%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-25,159	–	-1.58%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-29,920	–	-1.86%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-98,253	–	-1.98%	–
MBB	Exit	ISHARES TRmbs etf	$0	–	-38,605	–	-1.99%	–
DJP	Exit	BARCLAYS BANK PLCdjubs cmdt etn36	$0	–	-223,236	–	-2.03%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-35,929	–	-2.12%	–
EES	Exit	WISDOMTREE TRus smallcap fund	$0	–	-175,807	–	-2.45%	–
BNDX	Exit	VANGUARD CHARLOTTE FDSintl bd idx etf	$0	–	-100,396	–	-2.72%	–
WIP	Exit	SPDR SER TRftse int gvt etf	$0	–	-115,063	–	-2.91%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-91,185	–	-3.36%	–
IGF	Exit	ISHARES TRglb infrastr etf	$0	–	-199,104	–	-3.58%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$0	–	-202,558	–	-3.87%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-28,308	–	-4.44%	–
EDV	Exit	VANGUARD WORLD FDextended dur	$0	–	-59,554	–	-4.60%	–
HEEM	Exit	ISHARES INCcur hd msci em	$0	–	-364,901	–	-4.61%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-29,809	–	-4.66%	–
IEF	Exit	ISHARES TRbarclays 7 10 yr	$0	–	-82,044	–	-4.67%	–
HDV	Exit	ISHARES TRcore high dv etf	$0	–	-138,324	–	-5.20%	–
EMLP	Exit	FIRST TR EXCHANGE-TRADED FDno amer energy	$0	–	-619,334	–	-5.50%	–
LTPZ	Exit	PIMCO ETF TR15+ yr us tips	$0	–	-135,768	–	-5.55%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-391,016	–	-5.59%	–
EMB	Exit	ISHARES TRjpmorgan usd emg	$0	–	-114,828	–	-5.95%	–
MTUM	Exit	ISHARES TRmsci usa mmentm	$0	–	-89,639	–	-6.17%	–

Q3 2020

			Value		Shares		↓ Weighting
MTUM	Buy	ISHARES TRmsci usa mmentm	$13,216,000	+50.2%	89,639	+33.4%	6.17%	+14.4%
EMB	Buy	ISHARES TRjpmorgan usd emg	$12,734,000	+47.7%	114,828	+45.5%	5.95%	+12.5%
DBEF	Buy	DBX ETF TRxtrack msci eafe	$11,963,000	+45.2%	391,016	+43.4%	5.59%	+10.6%
LTPZ	Buy	PIMCO ETF TR15+ yr us tips	$11,878,000	+5.6%	135,768	+0.6%	5.55%	-19.6%
EMLP	Buy	FIRST TR EXCHANGE-TRADED FDno amer energy	$11,791,000	+53.1%	619,334	+60.3%	5.50%	+16.6%
HDV	Buy	ISHARES TRcore high dv etf	$11,132,000	+14.5%	138,324	+15.5%	5.20%	-12.8%
IEF	Buy	ISHARES TRbarclays 7 10 yr	$9,998,000	+41.9%	82,044	+42.0%	4.67%	+8.1%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$9,982,000	+53.4%	29,809	+41.3%	4.66%	+16.9%
HEEM	Buy	ISHARES INCcur hd msci em	$9,882,000	+11.4%	364,901	+2.5%	4.61%	-15.2%
EDV	Sell	VANGUARD WORLD FDextended dur	$9,858,000	-6.8%	59,554	-6.5%	4.60%	-29.0%
IVV	Buy	ISHARES TRcore s&p500 etf	$9,513,000	+47.4%	28,308	+35.8%	4.44%	+12.3%
VEA	Buy	VANGUARD TAX-MANAGED INTL FDftse dev mkt etf	$8,285,000	+56.6%	202,558	+48.5%	3.87%	+19.3%
IGF	Buy	ISHARES TRglb infrastr etf	$7,676,000	+24.2%	199,104	+23.3%	3.58%	-5.4%
VNQ	Buy	VANGUARD INDEX FDSreal estate etf	$7,197,000	+59.9%	91,185	+59.1%	3.36%	+21.7%
WIP	Buy	SPDR SER TRftse int gvt etf	$6,237,000	+6.3%	115,063	+3.0%	2.91%	-19.0%
BNDX	Buy	VANGUARD CHARLOTTE FDSintl bd idx etf	$5,833,000	+18.5%	100,396	+17.8%	2.72%	-9.7%
EES	Buy	WISDOMTREE TRus smallcap fund	$5,253,000	+273.3%	175,807	+254.6%	2.45%	+184.2%
TIP	Buy	ISHARES TRtips bd etf	$4,545,000	+35.8%	35,929	+32.0%	2.12%	+3.4%
DJP	Buy	BARCLAYS BANK PLCdjubs cmdt etn36	$4,342,000	+19.9%	223,236	+8.4%	2.03%	-8.7%
MBB	Buy	ISHARES TRmbs etf	$4,257,000	+31.2%	38,605	+31.8%	1.99%	-0.1%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$4,249,000	+51.5%	98,253	+38.7%	1.98%	+15.3%
IEI	Buy	ISHARES TR3 7 yr treas bd	$3,991,000	+30.8%	29,920	+31.1%	1.86%	-0.4%
LQD	Buy	ISHARES TRiboxx inv cp etf	$3,381,000	+37.8%	25,159	+38.0%	1.58%	+5.0%
VNQI	Sell	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$2,840,000	-11.2%	58,500	-14.7%	1.33%	-32.3%
HYG	Buy	ISHARES TRiboxx hi yd etf	$2,223,000	+21.1%	26,630	+18.4%	1.04%	-7.8%
USMV	Buy	ISHARES TRmsci usa min vol	$2,212,000	+56.0%	34,687	+48.5%	1.03%	+18.9%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$2,031,000	+48.1%	19,444	+41.3%	0.95%	+12.9%
FLOT	Buy	ISHARES TRfltg rate nt etf	$1,787,000	+0.5%	35,226	+0.2%	0.83%	-23.5%
BKLN	Buy	INVESCO EXCH TRADED FD TR IIsr ln etf	$1,418,000	+34.8%	65,482	+32.9%	0.66%	+2.6%
ORCC	Buy	OWL ROCK CAPITAL CORPORATION	$1,326,000	+67.0%	109,957	+70.7%	0.62%	+27.1%
FLRN	Buy	SPDR SER TRblomberg brc inv	$893,000	+0.6%	29,206	+0.2%	0.42%	-23.3%
UWM	Buy	PROSHARES TR	$760,000	+53.5%	14,393	+41.2%	0.36%	+17.2%
VB	Buy	VANGUARD INDEX FDSsmall cp etf	$719,000	+62.3%	4,679	+54.0%	0.34%	+23.5%
IAU	New	ISHARES GOLD TRUSTishares	$686,000	–	38,097	–	0.32%	–
NVDA	Buy	NVIDIA CORPORATION	$502,000	+46.8%	925	+3.0%	0.23%	+11.4%
AAPL	Buy	APPLE INC	$433,000	+40.6%	3,734	+341.9%	0.20%	+6.9%
CGW	Buy	INVESCO EXCH TRADED FD TR IIs&p gbl water	$419,000	+62.4%	10,139	+47.0%	0.20%	+24.1%
SSO	Buy	PROSHARES TR	$412,000	+52.6%	5,602	+159.6%	0.19%	+15.7%
JPM	Buy	JPMORGAN CHASE & CO	$306,000	+3.4%	3,176	+0.9%	0.14%	-21.0%
ESGE	New	ISHARES INCesg awr msci em	$279,000	–	7,823	–	0.13%	–
JNK	Buy	SPDR SER TRbloomberg brclys	$270,000	+3.4%	2,590	+0.3%	0.13%	-21.2%
DE	New	DEERE & CO	$235,000	–	1,061	–	0.11%	–
JNJ	New	JOHNSON & JOHNSON	$229,000	–	1,547	–	0.11%	–
SNY	Sell	SANOFIsponsored adr	$226,000	-3.0%	4,506	-1.0%	0.11%	-25.9%
BNTX	Sell	BIONTECH SEsponsored ads	$224,000	-5.1%	3,274	-7.4%	0.10%	-27.6%
DHR	Sell	DANAHER CORPORATION	$218,000	-8.8%	1,014	-25.2%	0.10%	-30.6%
UBER	New	UBER TECHNOLOGIES INC	$210,000	–	5,756	–	0.10%	–
DYAI	Sell	DYADIC INTL INC DEL	$171,000	-35.7%	22,681	-26.1%	0.08%	-50.9%
ORTX	Buy	ORCHARD THERAPEUTICS PLCads	$123,000	+7.0%	30,369	+58.8%	0.06%	-18.6%
OSMT	New	OSMOTICA PHARMACEUTICALS PLC	$111,000	–	20,655	–	0.05%	–
GERN	New	GERON CORP	$111,000	–	63,930	–	0.05%	–
DVAX	Sell	DYNAVAX TECHNOLOGIES CORP	$71,000	-54.2%	17,202	-1.6%	0.03%	-65.3%
GILD	Exit	GILEAD SCIENCES INC	$0	–	-2,753	–	-0.13%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-3,367	–	-0.15%	–
VMBS	Exit	VANGUARD SCOTTSDALE FDSmortg-back sec	$0	–	-5,724	–	-0.19%	–

Q2 2020

			Value		Shares		↓ Weighting
LTPZ	New	PIMCO ETF TR15+ yr us tips	$11,251,000	–	135,011	–	6.90%	–
EDV	New	VANGUARD WORLD FDextended dur	$10,572,000	–	63,676	–	6.48%	–
HDV	New	ISHARES TRcore high dv etf	$9,721,000	–	119,798	–	5.96%	–
HEEM	New	ISHARES INCcur hd msci em	$8,871,000	–	356,093	–	5.44%	–
MTUM	New	ISHARES TRusa momentum fct	$8,800,000	–	67,176	–	5.40%	–
EMB	New	ISHARES TRjpmorgan usd emg	$8,620,000	–	78,913	–	5.28%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$8,241,000	–	272,691	–	5.05%	–
EMLP	New	FIRST TR EXCHANGE-TRADED FDno amer energy	$7,704,000	–	386,350	–	4.72%	–
IEF	New	ISHARES TRbarclays 7 10 yr	$7,044,000	–	57,793	–	4.32%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$6,506,000	–	21,097	–	3.99%	–
IVV	New	ISHARES TRcore s&p500 etf	$6,455,000	–	20,840	–	3.96%	–
IGF	New	ISHARES TRglb infrastr etf	$6,182,000	–	161,452	–	3.79%	–
WIP	New	SPDR SER TRftse int gvt etf	$5,865,000	–	111,716	–	3.60%	–
VEA	New	VANGUARD TAX-MANAGED FDSftse dev mkt etf	$5,289,000	–	136,359	–	3.24%	–
BNDX	New	VANGUARD CHARLOTTE FDSintl bd idx etf	$4,922,000	–	85,254	–	3.02%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$4,502,000	–	57,324	–	2.76%	–
DJP	New	BARCLAYS BANK PLCdjubs cmdt etn36	$3,622,000	–	205,886	–	2.22%	–
TIP	New	ISHARES TRtips bd etf	$3,348,000	–	27,217	–	2.05%	–
MBB	New	ISHARES TRmbs etf	$3,244,000	–	29,301	–	1.99%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,198,000	–	68,556	–	1.96%	–
IEI	New	ISHARES TR3 7 yr treas bd	$3,051,000	–	22,821	–	1.87%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$2,805,000	–	70,824	–	1.72%	–
STIP	New	ISHARES TR0-5 yr tips etf	$2,710,000	–	26,464	–	1.66%	–
LQD	New	ISHARES TRiboxx inv cp etf	$2,453,000	–	18,230	–	1.50%	–
VCLT	New	VANGUARD SCOTTSDALE FDSlg-term cor bd	$2,074,000	–	19,511	–	1.27%	–
HYG	New	ISHARES TRiboxx hi yd etf	$1,836,000	–	22,500	–	1.13%	–
FLOT	New	ISHARES TRfltg rate nt etf	$1,778,000	–	35,151	–	1.09%	–
USMV	New	ISHARES TRmsci min vol etf	$1,418,000	–	23,366	–	0.87%	–
EES	New	WISDOMTREE TRus smallcap fund	$1,407,000	–	49,583	–	0.86%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$1,371,000	–	13,761	–	0.84%	–
BKLN	New	INVESCO EXCHANGE-TRADED FD Tsr ln etf	$1,052,000	–	49,278	–	0.64%	–
FLRN	New	SPDR SER TRblomberg brc inv	$888,000	–	29,141	–	0.54%	–
LYFT	New	LYFT INC	$797,000	–	24,137	–	0.49%	–
ORCC	New	OWL ROCK CAPITAL CORPORATION	$794,000	–	64,433	–	0.49%	–
UWM	New	PROSHARES TR	$495,000	–	10,191	–	0.30%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$443,000	–	3,038	–	0.27%	–
NVDA	New	NVIDIA CORPORATION	$342,000	–	898	–	0.21%	–
VMBS	New	VANGUARD SCOTTSDALE FDSmortg-back sec	$311,000	–	5,724	–	0.19%	–
AAPL	New	APPLE INC	$308,000	–	845	–	0.19%	–
JPM	New	JPMORGAN CHASE & CO	$296,000	–	3,147	–	0.18%	–
SSO	New	PROSHARES TR	$270,000	–	2,158	–	0.17%	–
DYAI	New	DYADIC INTL INC DEL	$266,000	–	30,677	–	0.16%	–
JNK	New	SPDR SER TRbloomberg brclys	$261,000	–	2,582	–	0.16%	–
CGW	New	INVESCO EXCH TRADED FD TR IIs&p gbl water	$258,000	–	6,897	–	0.16%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$252,000	–	3,367	–	0.15%	–
DHR	New	DANAHER CORPORATION	$239,000	–	1,356	–	0.15%	–
BNTX	New	BIONTECH SEsponsored ads	$236,000	–	3,536	–	0.14%	–
SNY	New	SANOFIsponsored adr	$233,000	–	4,553	–	0.14%	–
GILD	New	GILEAD SCIENCES INC	$212,000	–	2,753	–	0.13%	–
DVAX	New	DYNAVAX TECHNOLOGIES CORP	$155,000	–	17,480	–	0.10%	–
ORTX	New	ORCHARD THERAPEUTICS PLCads	$115,000	–	19,130	–	0.07%	–
NYMT	New	NEW YORK MTG TR INC	$26,000	–	10,000	–	0.02%	–
PEI	New	PENNSYLVANIA REAL ESTATE INVsh ben int	$14,000	–	10,000	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
UBT	Exit	PROSHARES TRultra 20yr tre	$0	–	-23	–	-0.00%	–
TLT	Exit	ISHARES TR20 yr tr bd etf	$0	–	-16	–	-0.00%	–
ESGE	Exit	ISHARES INCesg msci em etf	$0	–	-903	–	-0.01%	–
IWM	Exit	ISHARES TRrussell 2000 etf	$0	–	-500	–	-0.03%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-1,028	–	-0.05%	–
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-3,369	–	-0.10%	–
ZROZ	Exit	PIMCO ETF TR25yr+ zero u s	$0	–	-1,858	–	-0.11%	–
JNK	Exit	SPDR SERIES TRUSTbloomberg brclys	$0	–	-3,261	–	-0.15%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,074	–	-0.15%	–
FLRN	Exit	SPDR SERIES TRUSTblomberg brc inv	$0	–	-17,287	–	-0.22%	–
VMBS	Exit	VANGUARD SCOTTSDALE FDSmortg-back sec	$0	–	-10,506	–	-0.23%	–
SSO	Exit	PROSHARES TR	$0	–	-4,790	–	-0.25%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-4,859	–	-0.31%	–
LYFT	Exit	LYFT INC	$0	–	-24,130	–	-0.41%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-20,871	–	-0.44%	–
UWM	Exit	PROSHARES TR	$0	–	-16,871	–	-0.45%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-15,854	–	-0.65%	–
BKLN	Exit	INVESCO EXCHNG TRADED FD TRsr ln etf	$0	–	-71,676	–	-0.67%	–
VCLT	Exit	VANGUARD SCOTTSDALE FDSlg-term cor bd	$0	–	-19,511	–	-0.81%	–
EES	Exit	WISDOMTREE TRus smallcap fund	$0	–	-59,115	–	-0.87%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-27,738	–	-1.00%	–
USMV	Exit	ISHARES TRmsci min vol etf	$0	–	-40,244	–	-1.06%	–
VTV	Exit	VANGUARD INDEX FDSvalue etf	$0	–	-23,196	–	-1.06%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-27,392	–	-1.43%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-31,487	–	-1.66%	–
MBB	Exit	ISHARES TRmbs etf	$0	–	-41,566	–	-1.86%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-113,567	–	-1.88%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-40,064	–	-1.92%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-95,340	–	-2.30%	–
DJP	Exit	BARCLAYS BK PLCdjubs cmdt etn36	$0	–	-274,604	–	-2.47%	–
BNDX	Exit	VANGUARD CHARLOTTE FDSintl bd idx etf	$0	–	-122,952	–	-2.98%	–
WIP	Exit	SPDR SERIES TRUSTftse int gvt etf	$0	–	-151,189	–	-3.41%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-94,393	–	-3.63%	–
IEF	Exit	ISHARES TRbarclays 7 10 yr	$0	–	-78,947	–	-3.66%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-224,382	–	-3.80%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-31,169	–	-3.84%	–
IGF	Exit	ISHARES TRglb infrastr etf	$0	–	-232,642	–	-4.46%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-39,209	–	-4.80%	–
EMB	Exit	ISHARES TRjpmorgan usd emg	$0	–	-106,217	–	-4.96%	–
HEEM	Exit	ISHARES INCcur hd msci em	$0	–	-538,308	–	-5.46%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-415,069	–	-5.53%	–
MTUM	Exit	ISHARES TRusa momentum fct	$0	–	-115,522	–	-5.68%	–
EMLP	Exit	FIRST TR EXCHANGE TRADED FDno amer energy	$0	–	-570,247	–	-6.02%	–
EDV	Exit	VANGUARD WORLD FDextended dur	$0	–	-104,894	–	-6.11%	–
LTPZ	Exit	PIMCO ETF TR15+ yr us tips	$0	–	-203,347	–	-6.16%	–
HDV	Exit	ISHARES TRcore high dv etf	$0	–	-179,504	–	-6.96%	–

Q3 2019

			Value		Shares		↓ Weighting
HDV	Buy	ISHARES TRcore high dv etf	$16,899,000	+7.5%	179,504	+8.0%	6.96%	+4.1%
LTPZ	Sell	PIMCO ETF TR15+ yr us tips	$14,953,000	+2.2%	203,347	-3.3%	6.16%	-1.0%
EDV	Buy	VANGUARD WORLD FDextended dur	$14,816,000	+19.0%	104,894	+7.0%	6.11%	+15.1%
EMLP	Buy	FIRST TR EXCHANGE TRADED FDno amer energy	$14,595,000	+8.3%	570,247	+6.4%	6.02%	+4.8%
MTUM	Buy	ISHARES TRusa momentum fct	$13,772,000	+64.4%	115,522	+63.5%	5.68%	+59.1%
DBEF	Buy	DBX ETF TRxtrack msci eafe	$13,426,000	+46.6%	415,069	+43.2%	5.53%	+41.9%
HEEM	Buy	ISHARES INCcur hd msci em	$13,246,000	+34.6%	538,308	+39.4%	5.46%	+30.3%
EMB	Buy	ISHARES TRjpmorgan usd emg	$12,036,000	+11.1%	106,217	+11.1%	4.96%	+7.5%
SPY	Buy	SPDR S&P 500 ETF TRtr unit	$11,637,000	+30.4%	39,209	+28.8%	4.80%	+26.2%
IGF	Sell	ISHARES TRglb infrastr etf	$10,814,000	-13.1%	232,642	-13.7%	4.46%	-15.9%
IVV	Buy	ISHARES TRcore s&p500 etf	$9,305,000	+6.4%	31,169	+5.1%	3.84%	+3.0%
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$9,218,000	+49.3%	224,382	+51.6%	3.80%	+44.4%
IEF	Buy	ISHARES TRbarclays 7 10 yr	$8,878,000	+9.0%	78,947	+6.6%	3.66%	+5.5%
VNQ	Buy	VANGUARD INDEX FDSreal estate etf	$8,815,000	+121.9%	94,393	+107.9%	3.63%	+114.8%
WIP	Sell	SPDR SERIES TRUSTftse int gvt etf	$8,270,000	-20.2%	151,189	-18.9%	3.41%	-22.8%
BNDX	Sell	VANGUARD CHARLOTTE FDSintl bd idx etf	$7,236,000	-29.1%	122,952	-31.0%	2.98%	-31.4%
DJP	Sell	BARCLAYS BK PLCdjubs cmdt etn36	$5,987,000	-29.1%	274,604	-27.7%	2.47%	-31.4%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$5,585,000	+35.5%	95,340	+36.4%	2.30%	+31.1%
TIP	Sell	ISHARES TRtips bd etf	$4,659,000	-59.5%	40,064	-59.8%	1.92%	-60.8%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$4,572,000	+22.1%	113,567	+29.0%	1.88%	+18.1%
MBB	Sell	ISHARES TRmbs etf	$4,506,000	-36.9%	41,566	-37.4%	1.86%	-39.0%
LQD	Buy	ISHARES TRiboxx inv cp etf	$4,016,000	+7.4%	31,487	+4.6%	1.66%	+4.0%
IEI	Sell	ISHARES TR3 7 yr treas bd	$3,480,000	-73.2%	27,392	-73.4%	1.43%	-74.0%
VTV	Buy	VANGUARD INDEX FDSvalue etf	$2,585,000	+68.0%	23,196	+67.2%	1.06%	+62.6%
USMV	Buy	ISHARES TRmsci min vol etf	$2,581,000	+26.1%	40,244	+21.0%	1.06%	+22.2%
HYG	Sell	ISHARES TRiboxx hi yd etf	$2,414,000	-11.7%	27,738	-11.5%	1.00%	-14.5%
EES	Buy	WISDOMTREE TRus smallcap fund	$2,110,000	+133.1%	59,115	+134.4%	0.87%	+126.0%
BKLN	Sell	INVESCO EXCHNG TRADED FD TRsr ln etf	$1,615,000	-35.9%	71,676	-35.3%	0.67%	-37.9%
STIP	Sell	ISHARES TR0-5 yr tips etf	$1,588,000	-15.3%	15,854	-14.9%	0.65%	-18.0%
UWM	Buy	PROSHARES TR	$1,087,000	+48.9%	16,871	+58.5%	0.45%	+44.1%
FLOT	Sell	ISHARES TRfltg rate nt etf	$1,064,000	-14.9%	20,871	-15.0%	0.44%	-17.5%
LYFT	New	LYFT INC	$985,000	–	24,130	–	0.41%	–
VB	Buy	VANGUARD INDEX FDSsmall cp etf	$748,000	-1.2%	4,859	+0.6%	0.31%	-4.3%
SSO	Sell	PROSHARES TR	$614,000	-21.7%	4,790	-23.2%	0.25%	-24.3%
VMBS	Sell	VANGUARD SCOTTSDALE FDSmortg-back sec	$560,000	-7.9%	10,506	-8.8%	0.23%	-10.8%
FLRN	Sell	SPDR SERIES TRUSTblomberg brc inv	$532,000	-14.9%	17,287	-15.0%	0.22%	-17.7%
JPM	Sell	JPMORGAN CHASE & CO	$362,000	-25.2%	3,074	-29.1%	0.15%	-27.7%
JNK	Sell	SPDR SERIES TRUSTbloomberg brclys	$355,000	-5.6%	3,261	-5.8%	0.15%	-8.8%
ZROZ	Sell	PIMCO ETF TR25yr+ zero u s	$269,000	-9.1%	1,858	-19.4%	0.11%	-11.9%
AGG	New	ISHARES TRcore us aggbd et	$117,000	–	1,028	–	0.05%	–
IWM	New	ISHARES TRrussell 2000 etf	$76,000	–	500	–	0.03%	–
ESGE	New	ISHARES INCesg msci em etf	$30,000	–	903	–	0.01%	–
TLT	New	ISHARES TR20 yr tr bd etf	$3,000	–	16	–	0.00%	–
UBT	New	PROSHARES TRultra 20yr tre	$2,000	–	23	–	0.00%	–

Q2 2019

			Value		Shares		↓ Weighting
HDV	New	ISHARES TRcore high dv etf	$15,714,000	–	166,232	–	6.69%	–
LTPZ	New	PIMCO ETF TR15+ yr us tips	$14,624,000	–	210,256	–	6.23%	–
EMLP	New	FIRST TR EXCHANGE TRADED FDno amer energy	$13,479,000	–	536,014	–	5.74%	–
IEI	New	ISHARES TR3 7 yr treas bd	$12,975,000	–	103,107	–	5.52%	–
EDV	New	VANGUARD WORLD FDextended dur	$12,455,000	–	98,075	–	5.30%	–
IGF	New	ISHARES TRglb infrastr etf	$12,447,000	–	269,517	–	5.30%	–
TIP	New	ISHARES TRtips bd etf	$11,513,000	–	99,630	–	4.90%	–
EMB	New	ISHARES TRjpmorgan usd emg	$10,833,000	–	95,589	–	4.61%	–
WIP	New	SPDR SERIES TRUSTftse int gvt etf	$10,368,000	–	186,474	–	4.42%	–
BNDX	New	VANGUARD CHARLOTTE FDSintl bd idx etf	$10,212,000	–	178,283	–	4.35%	–
HEEM	New	ISHARES INCcur hd msci em	$9,841,000	–	386,257	–	4.19%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$9,157,000	–	289,762	–	3.90%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$8,922,000	–	30,452	–	3.80%	–
IVV	New	ISHARES TRcore s&p500 etf	$8,747,000	–	29,666	–	3.72%	–
DJP	New	BARCLAYS BK PLCdjubs cmdt etn36	$8,445,000	–	379,840	–	3.60%	–
MTUM	New	ISHARES TRusa momentum fct	$8,378,000	–	70,635	–	3.57%	–
IEF	New	ISHARES TRbarclays 7 10 yr	$8,147,000	–	74,060	–	3.47%	–
MBB	New	ISHARES TRmbs etf	$7,145,000	–	66,355	–	3.04%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$6,175,000	–	148,033	–	2.63%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$4,123,000	–	69,872	–	1.76%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$3,972,000	–	45,411	–	1.69%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,745,000	–	88,051	–	1.60%	–
LQD	New	ISHARES TRiboxx inv cp etf	$3,739,000	–	30,108	–	1.59%	–
HYG	New	ISHARES TRiboxx hi yd etf	$2,733,000	–	31,347	–	1.16%	–
BKLN	New	INVESCO EXCHNG TRADED FD TRsr ln etf	$2,519,000	–	110,838	–	1.07%	–
USMV	New	ISHARES TRmin vol usa etf	$2,046,000	–	33,249	–	0.87%	–
VCLT	New	VANGUARD SCOTTSDALE FDSlg-term cor bd	$1,890,000	–	19,511	–	0.80%	–
STIP	New	ISHARES TR0-5 yr tips etf	$1,875,000	–	18,639	–	0.80%	–
VTV	New	VANGUARD INDEX FDSvalue etf	$1,539,000	–	13,872	–	0.66%	–
FLOT	New	ISHARES TRfltg rate nt etf	$1,250,000	–	24,542	–	0.53%	–
EES	New	WISDOMTREE TRus smallcap fund	$905,000	–	25,215	–	0.38%	–
SSO	New	PROSHARES TR	$784,000	–	6,234	–	0.33%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$757,000	–	4,831	–	0.32%	–
UWM	New	PROSHARES TR	$730,000	–	10,641	–	0.31%	–
FLRN	New	SPDR SERIES TRUSTblomberg brc inv	$625,000	–	20,333	–	0.27%	–
VMBS	New	VANGUARD SCOTTSDALE FDSmortg-back sec	$608,000	–	11,515	–	0.26%	–
JPM	New	JPMORGAN CHASE & CO	$484,000	–	4,333	–	0.21%	–
JNK	New	SPDR SERIES TRUSTbloomberg brclys	$376,000	–	3,460	–	0.16%	–
ZROZ	New	PIMCO ETF TR25yr+ zero u s	$296,000	–	2,306	–	0.13%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$253,000	–	3,369	–	0.11%	–

Q4 2018

			Value		Shares		↓ Weighting
FLRN	Exit	SPDR SER TRblomberg brc inv	$0	–	-8,400	–	-0.12%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,023	–	-0.16%	–
AMJ	Exit	JPMORGAN CHASE & COalerian ml etn	$0	–	-16,101	–	-0.20%	–
FLOT	Exit	ISHARES TRfltg rate nt etf	$0	–	-10,130	–	-0.24%	–
ZROZ	Exit	PIMCO ETF TR25yr+ zero u s	$0	–	-4,851	–	-0.24%	–
EET	Exit	PROSHARES TRmsci emrg etf	$0	–	-9,704	–	-0.33%	–
STIP	Exit	ISHARES TR0-5 yr tips etf	$0	–	-7,700	–	-0.35%	–
JNK	Exit	SPDR SERIES TRUSTbloomberg brclys	$0	–	-24,083	–	-0.40%	–
VMBS	Exit	VANGUARD SCOTTSDALE FDSmortg-back sec	$0	–	-17,417	–	-0.40%	–
IWD	Exit	ISHARES TRrus 1000 val etf	$0	–	-7,918	–	-0.46%	–
UWM	Exit	PROSHARES TR	$0	–	-12,931	–	-0.50%	–
IEI	Exit	ISHARES TR3 7 yr treas bd	$0	–	-9,486	–	-0.51%	–
VB	Exit	VANGUARD INDEX FDSsmall cp etf	$0	–	-8,286	–	-0.61%	–
EFO	Exit	PROSHARES TRultr msci etf	$0	–	-38,383	–	-0.72%	–
SSO	Exit	PROSHARES TR	$0	–	-13,390	–	-0.78%	–
BKLN	Exit	INVESCO EXCHNG TRADED FD TRsr ln etf	$0	–	-93,546	–	-0.99%	–
MBB	Exit	ISHARES TRmbs etf	$0	–	-31,379	–	-1.47%	–
EES	Exit	WISDOMTREE TRus smallcp erngs	$0	–	-86,300	–	-1.56%	–
EMLP	Exit	FIRST TR EXCHANGE TRADED FDno amer energy	$0	–	-150,842	–	-1.61%	–
LQD	Exit	ISHARES TRiboxx inv cp etf	$0	–	-32,634	–	-1.70%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-92,210	–	-1.72%	–
HYG	Exit	ISHARES TRiboxx hi yd etf	$0	–	-44,009	–	-1.73%	–
TIP	Exit	ISHARES TRtips bd etf	$0	–	-34,807	–	-1.75%	–
VNQI	Exit	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$0	–	-69,281	–	-1.77%	–
QVAL	Exit	ALPHA ARCHITECT ETF TRus quan value	$0	–	-155,733	–	-2.20%	–
AGG	Exit	ISHARES TRcore us aggbd et	$0	–	-53,147	–	-2.55%	–
IEF	Exit	ISHARES TRbarclays 7 10 yr	$0	–	-58,382	–	-2.68%	–
IGF	Exit	ISHARES TRglb infrastr etf	$0	–	-140,877	–	-2.70%	–
IWF	Exit	ISHARES TRrus 1000 grw etf	$0	–	-38,423	–	-2.72%	–
VCLT	Exit	VANGUARD SCOTTSDALE FDSlg-term cor bd	$0	–	-76,418	–	-3.06%	–
HEEM	Exit	ISHARES INCcur hd msci em	$0	–	-273,178	–	-3.14%	–
LTPZ	Exit	PIMCO ETF TR15+ yr us tips	$0	–	-106,925	–	-3.14%	–
WIP	Exit	SPDR SERIES TRUSTftse int gvt etf	$0	–	-157,291	–	-3.76%	–
DJP	Exit	BARCLAYS BK PLCdjubs cmdt etn36	$0	–	-351,530	–	-3.79%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-258,657	–	-3.80%	–
VEA	Exit	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$0	–	-215,674	–	-4.24%	–
DSI	Exit	ISHARES TRmsci kld400 soc	$0	–	-88,327	–	-4.29%	–
EDV	Exit	VANGUARD WORLD FDextended dur	$0	–	-87,696	–	-4.32%	–
EMB	Exit	ISHARES TRjpmorgan usd emg	$0	–	-90,496	–	-4.43%	–
FIW	Exit	FIRST TR EXCHANGE TRADED FDwtr etf	$0	–	-218,425	–	-5.05%	–
BNDX	Exit	VANGUARD CHARLOTTE FDSintl bd idx etf	$0	–	-223,918	–	-5.55%	–
VNQ	Exit	VANGUARD INDEX FDSreal estate etf	$0	–	-157,751	–	-5.78%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-43,560	–	-5.79%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-50,789	–	-6.71%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETF TRtr unit	$14,766,000	+6.6%	50,789	-0.5%	6.71%	+4.1%
IVV	Buy	ISHARES TRcore s&p500 etf	$12,752,000	+12.2%	43,560	+4.6%	5.79%	+9.5%
VNQ	Buy	VANGUARD INDEX FDSreal estate etf	$12,728,000	-0.7%	157,751	+0.3%	5.78%	-3.0%
BNDX	Buy	VANGUARD CHARLOTTE FDSintl bd idx etf	$12,211,000	+1.4%	223,918	+1.8%	5.55%	-1.0%
FIW	Sell	FIRST TR EXCHANGE TRADED FDwtr etf	$11,110,000	-27.5%	218,425	-31.5%	5.05%	-29.2%
EMB	Sell	ISHARES TRjpmorgan usd emg	$9,756,000	+0.0%	90,496	-0.9%	4.43%	-2.3%
EDV	Buy	VANGUARD WORLD FDextended dur	$9,515,000	-3.0%	87,696	+2.7%	4.32%	-5.3%
DSI	New	ISHARES TRmsci kld400 soc	$9,433,000	–	88,327	–	4.29%	–
VEA	Buy	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$9,333,000	+1.2%	215,674	+0.3%	4.24%	-1.2%
DBEF	Sell	DBX ETF TRxtrack msci eafe	$8,362,000	+2.2%	258,657	-0.8%	3.80%	-0.2%
DJP	Buy	BARCLAYS BK PLCdjubs cmdt etn36	$8,341,000	-1.0%	351,530	+1.6%	3.79%	-3.3%
WIP	Buy	SPDR SERIES TRUSTftse int gvt etf	$8,281,000	0.0%	157,291	+3.1%	3.76%	-2.4%
LTPZ	Buy	PIMCO ETF TR15+ yr us tips	$6,922,000	-3.7%	106,925	+0.5%	3.14%	-6.0%
HEEM	Buy	ISHARES INCcur hd msci em	$6,920,000	+0.2%	273,178	+1.3%	3.14%	-2.1%
VCLT	Buy	VANGUARD SCOTTSDALE FDSlg-term cor bd	$6,723,000	+2.1%	76,418	+1.6%	3.06%	-0.3%
IWF	Sell	ISHARES TRrus 1000 grw etf	$5,997,000	+6.7%	38,423	-1.9%	2.72%	+4.2%
IGF	Buy	ISHARES TRglb infrastr etf	$5,937,000	-1.7%	140,877	+0.1%	2.70%	-4.1%
IEF	Buy	ISHARES TRbarclays 7 10 yr	$5,907,000	-0.8%	58,382	+0.5%	2.68%	-3.1%
AGG	Buy	ISHARES TRcore us aggbd et	$5,607,000	-0.1%	53,147	+0.7%	2.55%	-2.5%
QVAL	Buy	ALPHA ARCHITECT ETF TRus quan value	$4,831,000	+1.9%	155,733	+2.0%	2.20%	-0.5%
VNQI	Buy	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,891,000	-0.2%	69,281	+3.3%	1.77%	-2.5%
TIP	Buy	ISHARES TRtips bd etf	$3,851,000	-1.1%	34,807	+0.9%	1.75%	-3.4%
HYG	Buy	ISHARES TRiboxx hi yd etf	$3,801,000	+4.7%	44,009	+3.1%	1.73%	+2.2%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,781,000	-1.7%	92,210	+1.2%	1.72%	-4.0%
LQD	Buy	ISHARES TRiboxx inv cp etf	$3,750,000	+1.2%	32,634	+0.9%	1.70%	-1.2%
EMLP	Buy	FIRST TR EXCHANGE TRADED FDno amer energy	$3,545,000	+6.2%	150,842	+4.8%	1.61%	+3.7%
EES	Buy	WISDOMTREE TRus smallcp erngs	$3,443,000	+3.8%	86,300	+0.6%	1.56%	+1.3%
MBB	Buy	ISHARES TRmbs etf	$3,245,000	+1.7%	31,379	+2.4%	1.47%	-0.7%
BKLN	Buy	INVESCO EXCHNG TRADED FD TRsr ln etf	$2,172,000	+5.8%	93,546	+4.5%	0.99%	+3.4%
SSO	Sell	PROSHARES TR	$1,709,000	+12.7%	13,390	-1.8%	0.78%	+9.9%
EFO	Buy	PROSHARES TRultr msci etf	$1,577,000	+5.8%	38,383	+4.1%	0.72%	+3.3%
IEI	Buy	ISHARES TR3 7 yr treas bd	$1,130,000	-0.7%	9,486	+0.0%	0.51%	-3.2%
UWM	Sell	PROSHARES TR	$1,092,000	+3.8%	12,931	-2.2%	0.50%	+1.2%
IWD	Sell	ISHARES TRrus 1000 val etf	$1,003,000	-7.7%	7,918	-11.5%	0.46%	-9.9%
VMBS	Sell	VANGUARD SCOTTSDALE FDSmortg-back sec	$888,000	-1.2%	17,417	-0.4%	0.40%	-3.6%
JNK	Buy	SPDR SERIES TRUSTbloomberg brclys	$869,000	+2.4%	24,083	+0.6%	0.40%	0.0%
STIP	Sell	ISHARES TR0-5 yr tips etf	$761,000	-49.4%	7,700	-49.0%	0.35%	-50.6%
EET	Buy	PROSHARES TRmsci emrg etf	$724,000	0.0%	9,704	+3.9%	0.33%	-2.4%
ZROZ	Sell	PIMCO ETF TR25yr+ zero u s	$529,000	-7.0%	4,851	-1.7%	0.24%	-9.4%
FLOT	Sell	ISHARES TRfltg rate nt etf	$517,000	-48.9%	10,130	-48.9%	0.24%	-50.1%
AMJ	Sell	JPMORGAN CHASE & COalerian ml etn	$443,000	+1.4%	16,101	-2.2%	0.20%	-1.0%
JPM	Sell	JPMORGAN CHASE & CO	$341,000	-4.2%	3,023	-11.6%	0.16%	-6.6%
FLRN	Sell	SPDR SER TRblomberg brc inv	$259,000	-48.7%	8,400	-48.9%	0.12%	-49.8%
VT	Exit	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$0	–	-25,588	–	-0.87%	–

Q2 2018

			Value		Shares		↓ Weighting
FIW	New	FIRST TR EXCHANGE TRADED FDwtr etf	$15,330,000	–	318,685	–	7.13%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$13,849,000	–	51,053	–	6.44%	–
VNQ	New	VANGUARD INDEX FDSreal estate etf	$12,816,000	–	157,354	–	5.96%	–
BNDX	New	VANGUARD CHARLOTTE FDSintl bd idx etf	$12,043,000	–	220,042	–	5.60%	–
IVV	New	ISHARES TRcore s&p500 etf	$11,367,000	–	41,639	–	5.29%	–
EDV	New	VANGUARD WORLD FDextended dur	$9,805,000	–	85,429	–	4.56%	–
EMB	New	ISHARES TRjpmorgan usd emg	$9,753,000	–	91,349	–	4.54%	–
VEA	New	VANGUARD TAX MANAGED INTL FDftse dev mkt etf	$9,220,000	–	214,932	–	4.29%	–
DJP	New	BARCLAYS BK PLCdjubs cmdt etn36	$8,422,000	–	345,877	–	3.92%	–
WIP	New	SPDR SERIES TRUSTftse int gvt etf	$8,281,000	–	152,614	–	3.85%	–
DBEF	New	DBX ETF TRxtrack msci eafe	$8,183,000	–	260,621	–	3.81%	–
LTPZ	New	PIMCO ETF TR15+ yr us tips	$7,191,000	–	106,443	–	3.35%	–
HEEM	New	ISHARES INCcur hd msci em	$6,905,000	–	269,622	–	3.21%	–
VCLT	New	VANGUARD SCOTTSDALE FDSlg-term cor bd	$6,585,000	–	75,211	–	3.06%	–
IGF	New	ISHARES TRglb infrastr etf	$6,042,000	–	140,707	–	2.81%	–
IEF	New	ISHARES TRbarclays 7 10 yr	$5,955,000	–	58,105	–	2.77%	–
IWF	New	ISHARES TRrus 1000 grw etf	$5,621,000	–	39,171	–	2.62%	–
AGG	New	ISHARES TRcore us aggbd et	$5,611,000	–	52,795	–	2.61%	–
QVAL	New	ALPHA ARCHITECT ETF TRus quan value	$4,743,000	–	152,702	–	2.21%	–
VNQI	New	VANGUARD INTL EQUITY INDEX Fglb ex us etf	$3,897,000	–	67,076	–	1.81%	–
TIP	New	ISHARES TRtips bd etf	$3,892,000	–	34,480	–	1.81%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$3,847,000	–	91,156	–	1.79%	–
LQD	New	ISHARES TRiboxx inv cp etf	$3,706,000	–	32,340	–	1.72%	–
HYG	New	ISHARES TRiboxx hi yd etf	$3,631,000	–	42,670	–	1.69%	–
EMLP	New	FIRST TR EXCHANGE TRADED FDno amer energy	$3,338,000	–	143,925	–	1.55%	–
EES	New	WISDOMTREE TRus smallcp erngs	$3,318,000	–	85,779	–	1.54%	–
MBB	New	ISHARES TRmbs etf	$3,192,000	–	30,648	–	1.48%	–
BKLN	New	INVESCO EXCHNG TRADED FD TRsr ln etf	$2,053,000	–	89,521	–	0.96%	–
VT	New	VANGUARD INTL EQUITY INDEX Ftt wrld st etf	$1,878,000	–	25,588	–	0.87%	–
SSO	New	PROSHARES TR	$1,517,000	–	13,629	–	0.71%	–
STIP	New	ISHARES TR0-5 yr tips etf	$1,505,000	–	15,100	–	0.70%	–
EFO	New	PROSHARES TRultr msci etf	$1,490,000	–	36,879	–	0.69%	–
VB	New	VANGUARD INDEX FDSsmall cp etf	$1,290,000	–	8,286	–	0.60%	–
IEI	New	ISHARES TR3 7 yr treas bd	$1,138,000	–	9,484	–	0.53%	–
IWD	New	ISHARES TRrus 1000 val etf	$1,087,000	–	8,951	–	0.51%	–
UWM	New	PROSHARES TR	$1,052,000	–	13,217	–	0.49%	–
FLOT	New	ISHARES TRfltg rate nt etf	$1,012,000	–	19,843	–	0.47%	–
VMBS	New	VANGUARD SCOTTSDALE FDSmortg-back sec	$899,000	–	17,481	–	0.42%	–
JNK	New	SPDR SERIES TRUSTbloomberg brclys	$849,000	–	23,929	–	0.40%	–
EET	New	PROSHARES TRmsci emrg etf	$724,000	–	9,341	–	0.34%	–
ZROZ	New	PIMCO ETF TR25yr+ zero u s	$569,000	–	4,934	–	0.26%	–
FLRN	New	SPDR SER TRblomberg brc inv	$505,000	–	16,427	–	0.24%	–
AMJ	New	JPMORGAN CHASE & COalerian ml etn	$437,000	–	16,458	–	0.20%	–
JPM	New	JPMORGAN CHASE & CO	$356,000	–	3,421	–	0.17%	–

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