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
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGG - iShares Barclays Aggregate Bond Fund COM 464287226 14,084 123,460 SH   SOLE   123,460 0 0
BAB - Invesco Taxable Municipal Bond Fund COM 46138G805 182 5,520 SH   SOLE   5,520 0 0
CMF - iShares S&P California AMT-Free Bond COM 464288356 324 5,201 SH   SOLE   5,201 0 0
FLOT - iShares Floating Rate Bond ETF COM 46429B655 2,400 47,301 SH   SOLE   47,301 0 0
HYD - Vaneck Vectors High Yield Muni COM 92189H409 231 3,702 SH   SOLE   3,702 0 0
IGIB - iShares 5-10 Yr Inv Grade Corp ETF COM 464288638 1,460 24,630 SH   SOLE   24,630 0 0
IGSB - iShares 1-5 Yr Inv Grade Corp ETF COM 464288646 678 12,592 SH   SOLE   12,592 0 0
ITM - Vaneck Vectors AMT Free Int Muni COM 92189H201 42,945 837,618 SH   SOLE   837,618 0 0
MUB - iShares S&P National AMT-Free Bond F COM 464288414 22,708 195,288 SH   SOLE   195,288 0 0
NYF - iShares S&P New York AMT-Free Bond F COM 464288323 1,384 23,881 SH   SOLE   23,881 0 0
SHM - SPDR Nuveen Barclays ST Muni ETF COM 78468R739 40,406 821,602 SH   SOLE   821,602 0 0
SHYD - VanEck Vectors Short High Yield ETF COM 92189F387 117 4,656 SH   SOLE   4,656 0 0
SJNK - SPDR Barclays Short Term High Yld COM 78468R408 46 1,707 SH   SOLE   1,707 0 0
TFI - SPDR Nuveen Barclays Capital Municip COM 78468R721 24 460 SH   SOLE   460 0 0
TIP - iShares Barclays US Treasury Inflati COM 464287176 70 544 SH   SOLE   544 0 0
USIG - iShares Investment Corp Bond ETF COM 464288620 46 769 SH   SOLE   769 0 0
VTEB - Vanguard Tax-Exempt Bond ETF COM 922907746 1,935 35,245 SH   SOLE   35,245 0 0