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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGG - iShares Barclays Aggregate Bond Fund COM 464287226   10,788,640 111,985 SH   SOLE   111,985 0 0
BAB - Invesco Taxable Municipal Bond Fund COM 46138G805   116,220 4,531 SH   SOLE   4,531 0 0
CMF - iShares S&P California AMT-Free Bond COM 464288356   267,738 4,938 SH   SOLE   4,938 0 0
FLOT - iShares Floating Rate Bond ETF COM 46429B655   2,466,800 49,071 SH   SOLE   49,071 0 0
HYD - Vaneck Vectors High Yield Muni COM 92189H409   182,844 3,662 SH   SOLE   3,662 0 0
IGIB - iShares 5-10 Yr Inv Grade Corp ETF COM 464288638   1,133,595 23,480 SH   SOLE   23,480 0 0
IGSB - iShares 1-5 Yr Inv Grade Corp ETF COM 464288646   489,301 9,929 SH   SOLE   9,929 0 0
ITM - Vaneck Vectors AMT Free Int Muni COM 92189H201   16,967,510 389,744 SH   SOLE   389,744 0 0
JMST - JPM Ultra-Short Muni Income ETF COM 46641Q654   3,823 76 SH   SOLE   76 0 0
MUB - iShares S&P National AMT-Free Bond F COM 464288414   15,610,110 152,175 SH   SOLE   152,175 0 0
NYF - iShares S&P New York AMT-Free Bond F COM 464288323   1,267,785 25,060 SH   SOLE   25,060 0 0
SHM - SPDR Nuveen Barclays ST Muni ETF COM 78468R739   18,786,260 407,599 SH   SOLE   407,599 0 0
SHYD - VanEck Vectors Short High Yield ETF COM 92189F387   100,382 4,611 SH   SOLE   4,611 0 0
SJNK - SPDR Barclays Short Term High Yld COM 78468R408   12,389 521 SH   SOLE   521 0 0
TFI - SPDR Nuveen Barclays Capital Municip COM 78468R721   8,974 204 SH   SOLE   204 0 0
TIP - iShares Barclays US Treasury Inflati COM 464287176   17,623 168 SH   SOLE   168 0 0
VTEB - Vanguard Tax-Exempt Bond ETF COM 922907746   1,362,506 28,303 SH   SOLE   28,303 0 0