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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | ISHARES TR | $575.8M | 4,042,349 | 16.92% |
| 2 | ISHARES TR | $408.5M | 4,114,974 | 12.00% |
| 3 | GOLDMAN SACHS ETF TR | $247.2M | 1,975,417 | 7.26% |
| 4 | ISHARES TR | $241.8M | 5,234,998 | 7.11% |
| 5 | GOLDMAN SACHS ETF TR | $209.5M | 4,858,335 | 6.16% |
| 6 | ISHARES TR | $190.9M | 2,891,969 | 5.61% |
| 7 | VANGUARD INDEX FDS | $176.7M | 615,408 | 5.19% |
| 8 | GOLDMAN SACHS ETF TR | $144.5M | 3,345,899 | 4.25% |
| 9 | INVESCO ACTVELY MNGD ETC FD | $116.1M | 6,701,694 | 3.41% |
| 10 | ISHARES TR | $115.1M | 1,271,070 | 3.38% |
| 11 | ISHARES TR | $113.8M | 3,090,034 | 3.35% |
| 12 | ISHARES INC | $100.5M | 1,440,403 | 2.95% |
| 13 | ISHARES TR | $85.2M | 906,584 | 2.50% |
| 14 | ISHARES TR | $53.9M | 433,280 | 1.58% |
| 15 | ISHARES TR | $50.6M | 77,493 | 1.49% |
| 16 | SCHWAB STRATEGIC TR | $47.0M | 1,833,652 | 1.38% |
| 17 | VANGUARD INDEX FDS | $38.7M | 64,753 | 1.14% |
| 18 | SPDR INDEX SHS FDS | $32.6M | 713,109 | 0.96% |
| 19 | VANGUARD TAX-MANAGED FDS | $30.7M | 479,118 | 0.90% |
| 20 | SPDR SERIES TRUST | $22.8M | 288,268 | 0.67% |
| 21 | VANGUARD CHARLOTTE FDS | $14.9M | 309,187 | 0.44% |
| 22 | SPDR SERIES TRUST | $14.6M | 570,377 | 0.43% |
| 23 | VANGUARD BD INDEX FDS | $14.2M | 181,550 | 0.42% |
| 24 | VANGUARD INTL EQUITY INDEX F | $13.9M | 256,383 | 0.41% |
| 25 | SPDR INDEX SHS FDS | $13.5M | 286,774 | 0.40% |
| 26 | SCHWAB STRATEGIC TR | $13.1M | 522,955 | 0.39% |
| 27 | ISHARES TR | $12.0M | 157,244 | 0.35% |
| 28 | SCHWAB STRATEGIC TR | $11.3M | 458,511 | 0.33% |
| 29 | ISHARES TR | $11.3M | 53,694 | 0.33% |
| 30 | SCHWAB STRATEGIC TR | $10.9M | 467,808 | 0.32% |
| 31 | SCHWAB STRATEGIC TR | $10.8M | 326,253 | 0.32% |
| 32 | ISHARES TR | $9.9M | 87,339 | 0.29% |
| 33 | BLACKROCK ETF TRUST | $9.9M | 169,694 | 0.29% |
| 34 | VANGUARD BD INDEX FDS | $9.7M | 125,857 | 0.29% |
| 35 | ISHARES TR | $8.1M | 108,676 | 0.24% |
| 36 | VANGUARD INDEX FDS | $7.8M | 39,727 | 0.23% |
| 37 | VANGUARD INDEX FDS | $7.2M | 22,667 | 0.21% |
| 38 | VANGUARD SCOTTSDALE FDS | $7.0M | 148,163 | 0.20% |
| 39 | VANGUARD BD INDEX FDS | $6.7M | 97,467 | 0.20% |
| 40 | ISHARES TR | $6.6M | 287,200 | 0.19% |
| 41 | SPDR SERIES TRUST | $6.5M | 66,638 | 0.19% |
| 42 | VANGUARD BD INDEX FDS | $6.1M | 82,538 | 0.18% |
| 43 | ISHARES TR | $5.9M | 62,261 | 0.17% |
| 44 | ISHARES TR | $5.9M | 58,607 | 0.17% |
| 45 | ISHARES TR | $5.8M | 16,146 | 0.17% |
| 46 | ISHARES TR | $5.2M | 46,387 | 0.15% |
| 47 | VANGUARD INDEX FDS | $5.1M | 24,811 | 0.15% |
| 48 | SPDR SERIES TRUST | $5.1M | 218,945 | 0.15% |
| 49 | BLACKROCK ETF TRUST | $4.8M | 146,885 | 0.14% |
| 50 | ISHARES TR | $4.8M | 24,834 | 0.14% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.