The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Abbott Laboratories COM 002824100   5,797,132 52,802 SH   SOLE   52,802 0 0
AbbVie Inc. COM 00287Y109   8,241,140 50,994 SH   SOLE   50,994 0 0
Aberdeen Standard Bloomberg Al COM 003261104   815,867 36,984 SH   SOLE   36,984 0 0
ABM Industries Inc. COM 000957100   2,465,621 55,507 SH   SOLE   55,507 0 0
Adobe Inc. COM 00724F101   3,592,794 10,676 SH   SOLE   10,676 0 0
AGCO Corp. COM 001084102   2,153,440 15,527 SH   SOLE   15,527 0 0
Albertsons Cos Inc. COM 013091103   1,777,750 85,716 SH   SOLE   85,716 0 0
Allison Transmission Holdings I COM 01973R101   1,958,237 47,073 SH   SOLE   47,073 0 0
Allstate Corp. COM 020002101   4,347,336 32,060 SH   SOLE   32,060 0 0
Altria Group Inc. COM 02209S103   480,092 10,503 SH   SOLE   10,503 0 0
AmerisourceBergen Corp. COM 03073E105   2,688,479 16,224 SH   SOLE   16,224 0 0
Amkor Technology Inc. COM 031652100   326,008 13,595 SH   SOLE   13,595 0 0
Anheuser-Busch InBev N.V. ADS COM 03524A108   2,481,453 41,330 SH   SOLE   41,330 0 0
Antero Midstream Corp. COM 03676B102   382,937 35,490 SH   SOLE   35,490 0 0
APA Corp. COM 03743Q108   6,182,673 132,448 SH   SOLE   132,448 0 0
Apple Inc. COM 037833100   13,254,549 102,013 SH   SOLE   102,013 0 0
Applied Materials Inc. COM 038222105   9,771,401 100,343 SH   SOLE   100,343 0 0
ArcelorMittal SA ADR COM 03938L203   292,851 11,169 SH   SOLE   11,169 0 0
Arch Capital Group Ltd. COM G0450A105   4,718,545 75,160 SH   SOLE   75,160 0 0
Archer Daniels Midland Co. COM 039483102   3,834,798 41,301 SH   SOLE   41,301 0 0
Atlas Air Worldwide Holdings COM 049164205   4,748,890 47,112 SH   SOLE   47,112 0 0
AutoNation Inc. COM 05329W102   3,541,651 33,007 SH   SOLE   33,007 0 0
Axis Capital Holdings Ltd COM G0692U109   2,463,543 45,478 SH   SOLE   45,478 0 0
Banco Santander S.A. ADR COM 05964H105   251,254 85,171 SH   SOLE   85,171 0 0
Bank of Nova Scotia COM 064149107   205,324 4,192 SH   SOLE   4,192 0 0
Barclays PLC ADR COM 06738E204   233,906 29,988 SH   SOLE   29,988 0 0
BHP Billiton Ltd. ADS COM 088606108   505,149 8,141 SH   SOLE   8,141 0 0
BJ's Wholesale Club Holdings, COM 05550J101   6,839,025 103,371 SH   SOLE   103,371 0 0
BP PLC ADS COM 055622104   6,420,099 183,799 SH   SOLE   183,799 0 0
Bristol-Myers Squibb Co. COM 110122108   392,631 5,457 SH   SOLE   5,457 0 0
British American Tobacco PLC A COM 110448107   468,965 11,730 SH   SOLE   11,730 0 0
Bunge Ltd. COM G16962105   447,069 4,481 SH   SOLE   4,481 0 0
C.H. Robinson Worldwide COM 12541W209   3,425,992 37,418 SH   SOLE   37,418 0 0
California Resources Corp COM 13057Q305   2,752,747 63,267 SH   SOLE   63,267 0 0
Canadian Natural Resources Ltd COM 136385101   833,006 15,001 SH   SOLE   15,001 0 0
Cardinal Health Inc. COM 14149Y108   2,572,762 33,469 SH   SOLE   33,469 0 0
Caterpillar Inc. COM 149123101   3,582,859 14,956 SH   SOLE   14,956 0 0
Centene Corp. COM 15135B101   7,731,493 94,275 SH   SOLE   94,275 0 0
Chord Energy Corp. COM 674215207   3,587,979 26,226 SH   SOLE   26,226 0 0
Chubb Corp. COM H1467J104   7,926,820 35,933 SH   SOLE   35,933 0 0
Cincinnati Financial Corp COM 172062101   431,881 4,218 SH   SOLE   4,218 0 0
Citigroup Inc. COM 172967424   207,968 4,598 SH   SOLE   4,598 0 0
Clean Harbors Inc. COM 184496107   2,405,421 21,078 SH   SOLE   21,078 0 0
Coca-Cola Europacific Partners COM G25839104   347,631 6,284 SH   SOLE   6,284 0 0
Commercial Metals Co. COM 201723103   263,718 5,460 SH   SOLE   5,460 0 0
Consumer Staples Select Sector COM 81369Y308   428,961 5,754 SH   SOLE   5,754 0 0
Corning Inc. COM 219350105   2,833,557 88,715 SH   SOLE   88,715 0 0
Costco Wholesale Corp. COM 22160K105   8,534,724 18,696 SH   SOLE   18,696 0 0
CVS Health Corp. COM 126650100   4,152,826 44,563 SH   SOLE   44,563 0 0
D.R. Horton Inc. COM 23331A109   7,296,822 81,858 SH   SOLE   81,858 0 0
Danaher Corporation COM 235851102   6,296,028 23,721 SH   SOLE   23,721 0 0
Deere & Co. COM 244199105   3,423,220 7,984 SH   SOLE   7,984 0 0
Diageo P L C Spon Adr New COM 25243Q205   2,406,278 13,504 SH   SOLE   13,504 0 0
Diodes Inc. COM 254543101   314,306 4,128 SH   SOLE   4,128 0 0
Direxion Daily S&P500 Bear 1X COM 25460E869   29,287,419 1,773,920 SH   SOLE   1,773,920 0 0
Elevance Health Inc. COM 036752103   10,405,596 20,285 SH   SOLE   20,285 0 0
Enbridge Inc. COM 29250N105   252,742 6,464 SH   SOLE   6,464 0 0
Energy Select Sector SPDR Fund COM 81369Y506   524,383 5,995 SH   SOLE   5,995 0 0
ENI S.p.A. ADS COM 26874R108   348,792 12,170 SH   SOLE   12,170 0 0
EOG Resources Inc. COM 26875P101   7,057,415 54,489 SH   SOLE   54,489 0 0
Equinor ASA Sponsored ADR COM 29446M102   5,655,939 157,943 SH   SOLE   157,943 0 0
Evercore Inc. (Cl A) COM 29977A105   271,718 2,491 SH   SOLE   2,491 0 0
Everest Re Group Ltd. COM G3223R108   765,896 2,312 SH   SOLE   2,312 0 0
Expeditors International of Wa COM 302130109   3,559,780 34,255 SH   SOLE   34,255 0 0
Exxon Mobil Corp. COM 30231G102   9,446,423 85,643 SH   SOLE   85,643 0 0
FedEx Corp. COM 31428X106   352,462 2,035 SH   SOLE   2,035 0 0
Fidelity MSCI Consumer Staples COM 316092303   3,456,554 77,138 SH   SOLE   77,138 0 0
Fidelity MSCI Energy Index ETF COM 316092402   4,956,455 207,905 SH   SOLE   207,905 0 0
Fidelity MSCI Financials Index COM 316092501   1,608,195 33,546 SH   SOLE   33,546 0 0
Goldman Sachs Group Inc. COM 38141G104   684,700 1,994 SH   SOLE   1,994 0 0
GSK plc Sponsored ADR COM 37733W204   234,032 6,660 SH   SOLE   6,660 0 0
Health Care Select Sector SPDR COM 81369Y209   4,010,835 29,524 SH   SOLE   29,524 0 0
Home Depot Inc. COM 437076102   3,361,066 10,641 SH   SOLE   10,641 0 0
Hub Group Inc (Cl A) COM 443320106   3,043,672 38,290 SH   SOLE   38,290 0 0
Humana Inc. COM 444859102   10,088,606 19,697 SH   SOLE   19,697 0 0
Imperial Oil Limited COM 453038408   3,973,431 81,523 SH   SOLE   81,523 0 0
Industrial Select Sector SPDR COM 81369Y704   791,376 8,058 SH   SOLE   8,058 0 0
Intel Corp. COM 458140100   215,457 8,152 SH   SOLE   8,152 0 0
Invesco CurrencyShares Euro Tr COM 46138K103   4,550,728 46,060 SH   SOLE   46,060 0 0
Invesco CurrencyShares Japanes COM 46138W107   4,715,494 66,322 SH   SOLE   66,322 0 0
Invesco NASDAQ 100 ETF COM 46138G649   226,399 2,067 SH   SOLE   2,067 0 0
iShares 0-5 Year TIPS Bond ETF COM 46429B747   8,018,592 82,700 SH   SOLE   82,700 0 0
iShares 1-3 Year Treasury Bond COM 464287457   9,675,058 119,195 SH   SOLE   119,195 0 0
iShares 20 Year Treasury Bond COM 464287432   2,472,075 24,830 SH   SOLE   24,830 0 0
iShares 7-10 Year Treasury Bon COM 464287440   1,354,521 14,142 SH   SOLE   14,142 0 0
iShares Core MSCI EAFE ETF COM 46432F842   4,614,987 74,870 SH   SOLE   74,870 0 0
iShares Core Total U.S. Bond M COM 464287226   3,440,623 35,474 SH   SOLE   35,474 0 0
iShares DJ US Home Constructio COM 464288752   1,464,944 24,172 SH   SOLE   24,172 0 0
iShares Edge MSCI USA Quality COM 46432F339   209,458 1,838 SH   SOLE   1,838 0 0
iShares Floating Rate Bond ETF COM 46429B655   4,465,882 88,732 SH   SOLE   88,732 0 0
iShares Gold Trust COM 464285204   9,314,879 269,294 SH   SOLE   269,294 0 0
iShares International Treasury COM 464288117   10,085,549 257,613 SH   SOLE   257,613 0 0
iShares JPMorgan USD Emerging COM 464288281   1,264,367 14,947 SH   SOLE   14,947 0 0
iShares MBS ETF COM 464288588   6,627,637 71,457 SH   SOLE   71,457 0 0
iShares MSCI Emerging Markets COM 46434G764   1,834,478 38,645 SH   SOLE   38,645 0 0
iShares MSCI Global Metals & M COM 46434G848   992,856 24,216 SH   SOLE   24,216 0 0
iShares S&P 500 Fund COM 464287200   5,533,392 14,402 SH   SOLE   14,402 0 0
iShares S&P Small Cap 600 Inde COM 464287804   217,767 2,301 SH   SOLE   2,301 0 0
iShares U.S. Healthcare Provid COM 464288828   3,216,831 12,017 SH   SOLE   12,017 0 0
iShares U.S. Insurance ETF COM 464288786   2,205,208 24,127 SH   SOLE   24,127 0 0
iShares US Transportation ETF COM 464287192   861,888 4,036 SH   SOLE   4,036 0 0
Jabil Inc. COM 466313103   3,066,477 44,963 SH   SOLE   44,963 0 0
Johnson & Johnson COM 478160104   8,246,729 46,684 SH   SOLE   46,684 0 0
KB Home COM 48666K109   2,221,346 69,744 SH   SOLE   69,744 0 0
Keurig Dr Pepper Inc. COM 49271V100   2,843,528 79,740 SH   SOLE   79,740 0 0
KLA Corporation COM 482480100   7,380,362 19,575 SH   SOLE   19,575 0 0
Kroger Co. COM 501044101   3,108,653 69,732 SH   SOLE   69,732 0 0
Lam Research Corp. COM 512807108   12,324,877 29,324 SH   SOLE   29,324 0 0
Lennar Corp. (Cl A) COM 526057104   4,950,441 54,701 SH   SOLE   54,701 0 0
LKQ Corp. COM 501889208   5,502,886 103,031 SH   SOLE   103,031 0 0
Louisiana-Pacific Corp. COM 546347105   4,531,050 76,538 SH   SOLE   76,538 0 0
LPL Financial Holdings Inc. COM 50212V100   454,173 2,101 SH   SOLE   2,101 0 0
M.D.C. Holdings Inc. COM 552676108   2,511,758 79,486 SH   SOLE   79,486 0 0
Marathon Oil Corp. COM 565849106   5,278,352 194,989 SH   SOLE   194,989 0 0
Marvell Technology Inc. COM 573874104   312,951 8,449 SH   SOLE   8,449 0 0
Mastercard Inc. Cl A COM 57636Q104   6,910,438 19,873 SH   SOLE   19,873 0 0
McKesson Corp. COM 58155Q103   2,438,280 6,500 SH   SOLE   6,500 0 0
Merck & Co. Inc. COM 58933Y105   10,819,289 97,515 SH   SOLE   97,515 0 0
Meritage Homes Corp. COM 59001A102   3,771,441 40,905 SH   SOLE   40,905 0 0
Mgp Ingredients Inc. COM 55303J106   2,054,942 19,317 SH   SOLE   19,317 0 0
Microsoft Corp. COM 594918104   15,082,759 62,892 SH   SOLE   62,892 0 0
Mizuho Financial Group Inc. AD COM 60687Y109   288,013 101,413 SH   SOLE   101,413 0 0
MKS Instruments Inc. COM 55306N104   3,050,111 35,998 SH   SOLE   35,998 0 0
Molson Coors Brewing Co. Cl B COM 60871R209   2,245,293 43,581 SH   SOLE   43,581 0 0
Morgan Stanley COM 617446448   660,095 7,764 SH   SOLE   7,764 0 0
Mosaic Co. COM 61945C103   395,093 9,006 SH   SOLE   9,006 0 0
MSC Industrial Direct Co. Cl A COM 553530106   1,551,320 18,988 SH   SOLE   18,988 0 0
Novartis AG ADS COM 66987V109   462,672 5,100 SH   SOLE   5,100 0 0
Nutrien Ltd. COM 67077M108   381,801 5,228 SH   SOLE   5,228 0 0
Old Republic International Cor COM 680223104   353,580 14,641 SH   SOLE   14,641 0 0
Paccar Inc. COM 693718108   2,490,679 25,166 SH   SOLE   25,166 0 0
Penske Automotive Grp Inc Com COM 70959W103   4,581,110 39,860 SH   SOLE   39,860 0 0
PepsiCo Inc. COM 713448108   3,452,955 19,113 SH   SOLE   19,113 0 0
Petroleo Brasileiro SA Sponsor COM 71654V408   263,683 24,759 SH   SOLE   24,759 0 0
Pfizer Inc. COM 717081103   448,914 8,761 SH   SOLE   8,761 0 0
ProShares Short Russell2000 COM 74348A210   15,591,037 633,782 SH   SOLE   633,782 0 0
PulteGroup Inc. COM 745867101   5,688,108 124,931 SH   SOLE   124,931 0 0
Raymond James Financial Inc COM 754730109   256,761 2,403 SH   SOLE   2,403 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107   3,935,728 5,455 SH   SOLE   5,455 0 0
Reinsurance Group of America I COM 759351604   4,200,465 29,562 SH   SOLE   29,562 0 0
Republic Services Inc. COM 760759100   4,814,939 37,328 SH   SOLE   37,328 0 0
Rio Tinto PLC ADS COM 767204100   7,594,406 106,663 SH   SOLE   106,663 0 0
Schwab Fundamental Internation COM 808524755   250,118 8,604 SH   SOLE   8,604 0 0
Shell PLC Sponsored ADR COM 780259305   7,007,413 123,045 SH   SOLE   123,045 0 0
Skyworks Solutions Inc COM 83088M102   270,565 2,969 SH   SOLE   2,969 0 0
SolarEdge Technologies, Inc. COM 83417M104   7,037,560 24,844 SH   SOLE   24,844 0 0
Southern Copper Corp. COM 84265V105   6,220,110 102,999 SH   SOLE   102,999 0 0
SPDR Barclays International Co COM 78464A151   4,880,217 176,054 SH   SOLE   176,054 0 0
SPDR Barclays Short Term High COM 78468R408   5,486,821 226,354 SH   SOLE   226,354 0 0
SPDR Bloomberg Barclays Intern COM 78464A516   18,273,362 814,684 SH   SOLE   814,684 0 0
SPDR Gold Trust COM 78463V107   7,812,770 46,055 SH   SOLE   46,055 0 0
SPDR S&P Homebuilders ETF COM 78464A888   643,916 10,675 SH   SOLE   10,675 0 0
SPDR S&P Metals & Mining ETF COM 78464A755   734,747 14,751 SH   SOLE   14,751 0 0
SPDR S&P Retail ETF COM 78464A714   807,552 13,359 SH   SOLE   13,359 0 0
SPDR S&P Semiconductor ETF COM 78464A862   896,520 5,361 SH   SOLE   5,361 0 0
Star Bulk Carriers Corp. COM Y8162K204   211,645 11,006 SH   SOLE   11,006 0 0
Steel Dynamics Inc. COM 858119100   3,886,115 39,776 SH   SOLE   39,776 0 0
Stifel Financial Corp. COM 860630102   356,582 6,109 SH   SOLE   6,109 0 0
Suncor Energy Inc. COM 867224107   4,103,863 129,337 SH   SOLE   129,337 0 0
Takeda Pharmaceutical Co. Ltd. COM 874060205   292,313 18,738 SH   SOLE   18,738 0 0
Target Corp. COM 87612E106   13,332,820 89,458 SH   SOLE   89,458 0 0
Taylor Morrison Home Corp. Cla COM 87724P106   2,771,592 91,321 SH   SOLE   91,321 0 0
Technology Select Sector SPDR COM 81369Y803   7,503,359 60,297 SH   SOLE   60,297 0 0
Teck Resources Limited Class B COM 878742204   4,522,327 119,575 SH   SOLE   119,575 0 0
Terex Corp. COM 880779103   2,049,962 47,986 SH   SOLE   47,986 0 0
Ternium S.A. Sponsored ADR COM 880890108   266,392 8,717 SH   SOLE   8,717 0 0
Thermo Fisher Scientific Inc COM 883556102   5,941,945 10,790 SH   SOLE   10,790 0 0
Toll Brothers Inc. COM 889478103   4,182,996 83,794 SH   SOLE   83,794 0 0
Travelers Companies, Inc. COM 89417E109   7,911,516 42,197 SH   SOLE   42,197 0 0
TRI Pointe Group Inc COM 87265H109   339,955 18,287 SH   SOLE   18,287 0 0
Triton International Ltd. Clas COM G9078F107   3,001,766 43,643 SH   SOLE   43,643 0 0
United Parcel Service Inc. Cl COM 911312106   4,455,172 25,628 SH   SOLE   25,628 0 0
United Rentals Inc. COM 911363109   6,214,163 17,484 SH   SOLE   17,484 0 0
United States Steel Corp. COM 912909108   3,474,185 138,690 SH   SOLE   138,690 0 0
UnitedHealth Group Inc. COM 91324P102   14,179,664 26,745 SH   SOLE   26,745 0 0
Univar Solutions, Inc. COM 91336L107   286,136 8,998 SH   SOLE   8,998 0 0
VanEck Vectors J.P. Morgan EM COM 92189H300   11,920,021 491,953 SH   SOLE   491,953 0 0
Vanguard Mortgage-Backed Secur COM 92206C771   8,082,895 177,568 SH   SOLE   177,568 0 0
Vanguard Russell 1000 Value ET COM 92206C714   3,417,219 51,325 SH   SOLE   51,325 0 0
Vanguard Short-Term Corporate COM 92206C409   1,909,074 25,390 SH   SOLE   25,390 0 0
Vanguard Short-Term Inflation- COM 922020805   5,174,581 110,781 SH   SOLE   110,781 0 0
Vanguard Short-Term Treasury E COM 92206C102   698,292 12,077 SH   SOLE   12,077 0 0
Visa Inc. COM 92826C839   5,488,604 26,418 SH   SOLE   26,418 0 0
Vodafone Group PLC ADS COM 92857W308   270,771 26,756 SH   SOLE   26,756 0 0
W.R. Berkley Corp. COM 084423102   3,215,214 44,305 SH   SOLE   44,305 0 0
Walmart Inc. COM 931142103   5,115,358 36,077 SH   SOLE   36,077 0 0
Waste Management Inc. COM 94106L109   4,854,024 30,941 SH   SOLE   30,941 0 0
Wesco International Inc. COM 95082P105   3,731,586 29,805 SH   SOLE   29,805 0 0
West Fraser Timber Co. Ltd. COM 952845105   3,174,471 43,913 SH   SOLE   43,913 0 0
Williams-Sonoma Inc. COM 969904101   2,571,450 22,376 SH   SOLE   22,376 0 0
Woodside Energy Group Ltd COM 980228308   724,751 29,936 SH   SOLE   29,936 0 0