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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
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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
ALPS ETF TR ALERIAN MLP 00162Q452   37,355,440 885,200 SH   SOLE   885,200 0 0
ANGEL OAK FUNDS TRUST INCOME ETF 03463K760   468,011 23,284 SH   SOLE   23,284 0 0
BLACKROCK ETF TRUST II AAA CLO ETF 092528504   353,970 6,900 SH   SOLE   6,900 0 0
BNY MELLON ETF TRUST HIGH YIELD BETA 09661T800   3,212,300 70,600 SH   SOLE   70,600 0 0
DBX ETF TR XTRACK USD HIGH 233051432   72,668,040 2,143,600 SH   SOLE   2,143,600 0 0
FIRST TR EXCHANGE-TRADED FD SENIOR LN FD 33738D309   11,421,278 249,700 SH   SOLE   249,700 0 0
FIRST TR EXCHANGE-TRADED FD FIRST TR TA HIYL 33738D408   4,860,597 123,900 SH   SOLE   123,900 0 0
FIRST TR EXCH TRADED FD III PFD SECS INC ETF 33739E108   9,454,240 592,000 SH   SOLE   592,000 0 0
FLEXSHARES TR HIG YLD VL ETF 33939L662   11,844,504 297,900 SH   SOLE   297,900 0 0
FRANKLIN TEMPLETON ETF TR SENIOR LOAN ETF 35473P595   2,450,695 101,900 SH   SOLE   101,900 0 0
INVESCO QQQ TR UNIT SER 1 46090E103   20,453,276 57,089 SH   SOLE   57,089 0 0
INVESCO ACTVELY MNGD ETC FD OPTIMUM YIELD 46090F100   232,099 15,525 SH   SOLE   15,525 0 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508   179,274,771 8,540,961 SH   SOLE   8,540,961 0 0
INVESCO EXCH TRADED FD TR II VAR RATE PFD 46138G870   1,881,317 84,100 SH   SOLE   84,100 0 0
INVESCO EXCH TRD SLF IDX FD BULSHS 2025 HY 46138J817   12,379,736 550,700 SH   SOLE   550,700 0 0
INVESCO EXCH TRD SLF IDX FD BULSHS 2024 HY 46138J833   4,717,143 209,800 SH   SOLE   209,800 0 0
ISHARES TR CORE S&P MCP ETF 464287507   19,305,176 77,422 SH   SOLE   77,422 0 0
ISHARES TR IBOXX HI YD ETF 464288513   497,470,227 6,748,104 SH   SOLE   6,748,104 0 0
ISHARES TR FLTG RATE NT ETF 46429B655   4,773,482 93,800 SH   SOLE   93,800 0 0
ISHARES TR MSCI EAFE MIN VL 46429B689   15,381,159 235,835 SH   SOLE   235,835 0 0
ISHARES TR MSCI USA MIN VOL 46429B697   13,651,375 188,607 SH   SOLE   188,607 0 0
ISHARES TR MSCI USA QLT FCT 46432F339   8,432,715 63,986 SH   SOLE   63,986 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822   3,623,429 60,100 SH   SOLE   60,100 0 0
ISHARES TR 0-5YR HI YL CP 46434V407   120,798,844 2,944,159 SH   SOLE   2,944,159 0 0
ISHARES TR FALN ANGLS USD 46435G474   24,341,200 981,500 SH   SOLE   981,500 0 0
ISHARES TR IBONDS 24 TRM HG 46435U184   3,941,680 169,900 SH   SOLE   169,900 0 0
ISHARES TR BROAD USD HIGH 46435U853   113,779,970 3,278,017 SH   SOLE   3,278,017 0 0
J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM 46641Q332   19,018,192 355,082 SH   SOLE   355,082 0 0
J P MORGAN EXCHANGE TRADED F BETABUILDERS USD 46641Q878   3,510,400 80,000 SH   SOLE   80,000 0 0
J P MORGAN EXCHANGE TRADED F NASDAQ EQT PREM 46654Q203   8,582,089 182,870 SH   SOLE   182,870 0 0
JANUS DETROIT STR TR B-BBB CLO ETF 47103U753   1,254,000 26,400 SH   SOLE   26,400 0 0
JANUS DETROIT STR TR HENDRSON AAA CL 47103U845   29,266,895 581,500 SH   SOLE   581,500 0 0
PGIM ETF TR ACTV HY BD ETF 69344A206   5,011,530 150,000 SH   SOLE   150,000 0 0
PACER FDS TR PAC ASSET FLTG 69374H428   1,042,756 22,336 SH   SOLE   22,336 0 0
PIMCO ETF TR SR LN ACTIVE ETF 72201R627   3,762,440 74,800 SH   SOLE   74,800 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783   6,438,390 71,300 SH   SOLE   71,300 0 0
SSGA ACTIVE ETF TR BLACKSTONE SENR 78467V608   72,685,613 1,733,499 SH   SOLE   1,733,499 0 0
SPDR DOW JONES INDL AVERAGE UT SER 1 78467X109   20,913,608 62,438 SH   SOLE   62,438 0 0
SPDR SER TR BLOOMBERG INVT 78468R200   15,301,632 498,100 SH   SOLE   498,100 0 0
SPDR SER TR BLOOMBERG SHT TE 78468R408   144,935,088 5,925,392 SH   SOLE   5,925,392 0 0
SPDR SER TR PORTFLI HIGH YLD 78468R606   32,724,232 1,459,600 SH   SOLE   1,459,600 0 0
SPDR SER TR BLOOMBERG HIGH Y 78468R622   433,613,182 4,796,606 SH   SOLE   4,796,606 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506   12,126,361 134,156 SH   SOLE   134,156 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605   6,077,009 183,208 SH   SOLE   183,208 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852   9,970,377 152,057 SH   SOLE   152,057 0 0
SERIES PORTFOLIOS TR PANAGRAM BBB B 81752T528   234,005 8,952 SH   SOLE   8,952 0 0
SIMPLIFY EXCHANGE TRADED FUN ENHANCED INM ETF 82889N632   776,256 31,200 SH   SOLE   31,200 0 0
VANECK ETF TRUST FALLEN ANGEL HG 92189F437   27,538,962 1,017,700 SH   SOLE   1,017,700 0 0
VANECK ETF TRUST IG FLOATING RATE 92189F486   9,923,796 392,400 SH   SOLE   392,400 0 0
VANECK ETF TRUST CLO ETF 92189H748   1,314,432 25,200 SH   SOLE   25,200 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   126,387,746 321,843 SH   SOLE   321,843 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736   20,262,042 74,408 SH   SOLE   74,408 0 0
VANGUARD INDEX FDS VALUE ETF 922908744   29,109,299 211,044 SH   SOLE   211,044 0 0
WISDOMTREE TR INDIA ERNGS FD 97717W422   3,834,399 104,309 SH   SOLE   104,309 0 0