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      <regStreet1>17605 WRIGHT STREET</regStreet1>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DBX ETF Trust</name>
        <lei>DNLQXYGHEZ10Q9SIK386</lei>
        <title>XTRACKERS HARVEST CSI 300</title>
        <cusip>233051879</cusip>
        <identifiers>
          <isin value="US2330518794"/>
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        <balance>103500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2786220.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR S&amp;P HOMEBUILDERS ETF</title>
        <cusip>78464A888</cusip>
        <identifiers>
          <isin value="US78464A8889"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2884000.00000000</valUSD>
        <pctVal>0.846044644927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Spdr Index Shs Fds</name>
        <lei>5493001XGU6MOBRXUU78</lei>
        <title>SPDR SOLACTIVE CANADA ETF</title>
        <cusip>78463X376</cusip>
        <identifiers>
          <isin value="US78463X3769"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3812332.50000000</valUSD>
        <pctVal>1.118378466125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vanguard Asset All</name>
        <lei>549300EW16IGZDA38J20</lei>
        <title>VANGUARD SHORT-TERM TIPS</title>
        <cusip>922020805</cusip>
        <identifiers>
          <isin value="US9220208055"/>
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        <balance>44000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2174040.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pimco Etf Tr</name>
        <lei>N/A</lei>
        <title>PIMCO ACTIVE BOND EXCHANG</title>
        <cusip>72201R775</cusip>
        <identifiers>
          <isin value="US72201R7750"/>
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        <balance>117500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12872125.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="12497140.00000000"/>
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      <invstOrSec>
        <name>Janus Detroit Street Trust</name>
        <lei>5493003MM7OCK5UJW595</lei>
        <title>JANUS HENDERSON SHORT DUR</title>
        <cusip>47103U886</cusip>
        <identifiers>
          <isin value="US47103U8861"/>
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        <balance>323234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4968.00000000"/>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EXPONENTIAL TECH</title>
        <cusip>46434V381</cusip>
        <identifiers>
          <isin value="US46434V3814"/>
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        <balance>345000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13831050.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS J.P. MORGA</title>
        <cusip>92189H300</cusip>
        <identifiers>
          <isin value="US92189H3003"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1733400.00000000</valUSD>
        <pctVal>0.508506861136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pimco Etf Tr</name>
        <lei>N/A</lei>
        <title>PIMCO ENHANCED SHORT MATU</title>
        <cusip>72201R833</cusip>
        <identifiers>
          <isin value="US72201R8337"/>
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        <balance>204257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20542126.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="11614429.95000000"/>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EDGE MSCI USA VAL</title>
        <cusip>46432F388</cusip>
        <identifiers>
          <isin value="US46432F3881"/>
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        <balance>385200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26956296.00000000</valUSD>
        <pctVal>7.907846698290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4587674.00000000"/>
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      <invstOrSec>
        <name>JP Morgan Etf Trust</name>
        <lei>5493001E1K1DVWDV2464</lei>
        <title>JPM DIVERSIFIED ALTERNATI</title>
        <cusip>46641Q803</cusip>
        <identifiers>
          <isin value="US46641Q8033"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2925000.00000000</valUSD>
        <pctVal>0.858072325385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Select Sector Spdr</name>
        <lei>5493008JJKIPMEX3CO91</lei>
        <title>FINANCIAL SELECT SECTOR S</title>
        <cusip>81369Y605</cusip>
        <identifiers>
          <isin value="US81369Y6059"/>
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        <balance>50607.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1153333.53000000</valUSD>
        <pctVal>0.338339686848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ishares Gold Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES GOLD TRUST</title>
        <cusip>464285105</cusip>
        <identifiers>
          <isin value="US4642851053"/>
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        <balance>225000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3624750.00000000</valUSD>
        <pctVal>1.063349627843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DAVIS FUNDAMENTAL ETF TR</name>
        <lei>254900TFED1P6S2E2805</lei>
        <title>DAVIS SELECT FINANCIAL ET</title>
        <cusip>23908L108</cusip>
        <identifiers>
          <isin value="US23908L1089"/>
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        <balance>160400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2925696.00000000</valUSD>
        <pctVal>0.858276502595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="45192.00000000"/>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES GLOBAL HEALTHCARE</title>
        <cusip>464287325</cusip>
        <identifiers>
          <isin value="US4642873255"/>
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        <balance>155000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10509000.00000000</valUSD>
        <pctVal>3.082899852128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="259122.00000000"/>
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      <invstOrSec>
        <name>Schwab Strategic T</name>
        <lei>549300NAZEQOIX80E226</lei>
        <title>SCHWAB U.S. TIPS ETF</title>
        <cusip>808524870</cusip>
        <identifiers>
          <isin value="US8085248701"/>
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        <balance>170381.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10064405.67000000</valUSD>
        <pctVal>2.952474522010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="374661.00000000"/>
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      <invstOrSec>
        <name>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>ISHARES CORE MSCI EMERGIN</title>
        <cusip>46434G103</cusip>
        <identifiers>
          <isin value="US46434G1031"/>
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        <balance>175200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7649232.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Proshares Trust</name>
        <lei>5493005D9DS7C1P5AM59</lei>
        <title>PROSHARES SHORT 20+ TREAS</title>
        <cusip>74347X849</cusip>
        <identifiers>
          <isin value="US74347X8496"/>
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        <balance>179400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2750202.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Trust Exchange-Traded Fund VII</name>
        <lei>549300ESI5HR7KPXFL47</lei>
        <title>FIRST TRUST GLOBAL TACTIC</title>
        <cusip>33739H101</cusip>
        <identifiers>
          <isin value="US33739H1014"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2881000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Invesco Exchange Traded Fund Trust II</name>
        <lei>O540V2L4S174Y60FMD36</lei>
        <title>INVESCO FTSE RAFI EMERGIN</title>
        <cusip>46138E727</cusip>
        <identifiers>
          <isin value="US46138E7278"/>
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        <balance>772800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12697104.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>First Trust Exchange-Traded Fund IV</name>
        <lei>5493006CBTW7P2B31B80</lei>
        <title>FT TACTICAL HIGH YIELD ET</title>
        <cusip>33738D408</cusip>
        <identifiers>
          <isin value="US33738D4088"/>
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        <balance>24150.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1084335.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EDGE MSCI USA QUA</title>
        <cusip>46432F339</cusip>
        <identifiers>
          <isin value="US46432F3394"/>
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        <balance>87613.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7971906.87000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Invesco Db Commodty Indx Trackng Fd</name>
        <lei>549300HIW8J5DIIYYM41</lei>
        <title>INVESCO DB COMMODITY INDE</title>
        <cusip>46138B103</cusip>
        <identifiers>
          <isin value="US46138B1035"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4142000.00000000</valUSD>
        <pctVal>1.215089084357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ssga Active Etf Trust</name>
        <lei>549300MAXSRPQ75ICU67</lei>
        <title>SPDR DOUBLELINE TR TACT E</title>
        <cusip>78467V848</cusip>
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          <isin value="US78467V8485"/>
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        <balance>296922.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14492762.82000000</valUSD>
        <pctVal>4.251568784348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAVIS FUNDAMENTAL ETF TR</name>
        <lei>254900TFED1P6S2E2805</lei>
        <title>DAVIS SELECT US EQUITY ET</title>
        <cusip>23908L207</cusip>
        <identifiers>
          <isin value="US23908L2079"/>
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        <balance>160176.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3578427.95000000</valUSD>
        <pctVal>1.049760681121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indexiq Etf Tr</name>
        <lei>549300RB5MLWJ1UN5M66</lei>
        <title>IQ MERGER ARBITRAGE ETF</title>
        <cusip>45409B800</cusip>
        <identifiers>
          <isin value="US45409B8000"/>
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        <balance>146874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4610374.86000000</valUSD>
        <pctVal>1.352490624621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Exchange Traded Fd Tr</name>
        <lei>QPT4TMG79RF3UWNU0R52</lei>
        <title>INVESCO S&amp;P 500 EQUAL WEI</title>
        <cusip>46137V332</cusip>
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          <isin value="US46137V3327"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3217630.50000000</valUSD>
        <pctVal>0.943917841150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="108145.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco Exchange Traded Fund Trust II</name>
        <lei>549300J84F1VGX03MG06</lei>
        <title>INVESCO OPTIMUM YIELD DIV</title>
        <cusip>46090F100</cusip>
        <identifiers>
          <isin value="US46090F1003"/>
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        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12628000.00000000</valUSD>
        <pctVal>3.704525581185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schwab Strategic T</name>
        <lei>549300NAZEQOIX80E226</lei>
        <title>SCHWAB FUNDAMENTAL EM L/C</title>
        <cusip>808524730</cusip>
        <identifiers>
          <isin value="US8085247307"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>659400.00000000</valUSD>
        <pctVal>0.193440304738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493001XGU6MOBRXUU78</lei>
        <title>SPDR BBG BARC IG FLOATING</title>
        <cusip>78468R200</cusip>
        <identifiers>
          <isin value="US78468R2004"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1054900.00000000</valUSD>
        <pctVal>0.309463417452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS GOVERNMENT CASH MANAGEMENT</name>
        <lei>N/A</lei>
        <title>DREYFUS GOV'T CASH MGMT -INSTITUTIONAL CUSIP 262006208 DGCXX (#289)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="83114401.93000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Covington Trust</name>
        <lei>549300782HVYOIE6CE74</lei>
        <title>FIDELITY TOTAL BOND ETF</title>
        <cusip>316188309</cusip>
        <identifiers>
          <isin value="US3161883091"/>
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        <balance>664963.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35149944.18000000</valUSD>
        <pctVal>10.31151943237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="15527302.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>John Hancock Exchange-Traded Fund Trust</name>
        <lei>5493009IOCA1ISM4Y592</lei>
        <title>JOHN HANCOCK MULTI FACT F</title>
        <cusip>47804J404</cusip>
        <identifiers>
          <isin value="US47804J4040"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1883136.00000000</valUSD>
        <pctVal>0.552433123602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-05-28</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorOne Funds</ncom:nameOfApplicant>
      <ncom:signature>Brian Curley</ncom:signature>
      <ncom:signerName>Brian Curley</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
