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
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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
AbbVie Inc. COM 00287Y109   7,964,197 49,973 SH   SOLE   49,973 0 0
Aberdeen Standard Bloomberg Al COM 003261104   768,158 36,984 SH   SOLE   36,984 0 0
ABM Industries Inc. COM 000957100   2,444,646 54,398 SH   SOLE   54,398 0 0
Academy Sports and Outdoors, I COM 00402L107   4,100,506 62,843 SH   SOLE   62,843 0 0
Adobe Inc. COM 00724F101   4,031,741 10,462 SH   SOLE   10,462 0 0
AGCO Corp. COM 001084102   2,055,716 15,205 SH   SOLE   15,205 0 0
Allison Transmission Holdings, COM 01973R101   2,088,097 46,156 SH   SOLE   46,156 0 0
Allstate Corp. COM 020002101   3,465,583 31,275 SH   SOLE   31,275 0 0
Alphabet Inc. CAP STK CL A 02079K305   8,170,605 78,768 SH   SOLE   78,768 0 0
Altria Group Inc. COM 02209S103   443,612 9,942 SH   SOLE   9,942 0 0
AmerisourceBergen Corp. COM 03073E105   2,545,429 15,898 SH   SOLE   15,898 0 0
Amkor Technology Inc. COM 031652100   333,290 12,809 SH   SOLE   12,809 0 0
APA Corp. COM 03743Q108   461,171 12,789 SH   SOLE   12,789 0 0
Apple Inc. COM 037833100   16,484,393 99,966 SH   SOLE   99,966 0 0
Applied Materials Inc. COM 038222105   12,051,834 98,118 SH   SOLE   98,118 0 0
ArcelorMittal SA ADR COM 03938L203   4,304,208 142,902 SH   SOLE   142,902 0 0
Arch Capital Group Ltd. COM G0450A105   4,998,693 73,651 SH   SOLE   73,651 0 0
AutoNation Inc. COM 05329W102   4,345,874 32,345 SH   SOLE   32,345 0 0
Axis Capital Holdings Ltd COM G0692U109   2,419,161 44,372 SH   SOLE   44,372 0 0
Banco Santander S.A. ADR COM 05964H105   297,484 80,619 SH   SOLE   80,619 0 0
Barclays PLC ADR 06738E204   204,146 28,393 SH   SOLE   28,393 0 0
Bath & Body Works, Inc. COM 070830104   2,923,986 79,934 SH   SOLE   79,934 0 0
Best Buy Co. Inc. COM 086516101   4,095,556 52,326 SH   SOLE   52,326 0 0
BHP Group Ltd. SPONSORED ADS 088606108   486,355 7,670 SH   SOLE   7,670 0 0
BP PLC ADS COM 055622104   6,833,563 180,115 SH   SOLE   180,115 0 0
Bristol-Myers Squibb Co. COM 110122108   357,778 5,162 SH   SOLE   5,162 0 0
British American Tobacco PLC A COM 110448107   389,937 11,103 SH   SOLE   11,103 0 0
C.H. Robinson Worldwide COM 12541W209   3,643,401 36,665 SH   SOLE   36,665 0 0
Canadian Natural Resources Ltd COM 136385101   783,867 14,162 SH   SOLE   14,162 0 0
Cardinal Health Inc. COM 14149Y108   2,476,325 32,799 SH   SOLE   32,799 0 0
Carlyle Group Inc COM 14316J108   298,766 9,619 SH   SOLE   9,619 0 0
Caterpillar Inc. COM 149123101   3,356,396 14,667 SH   SOLE   14,667 0 0
Centene Corp. COM 15135B101   3,087,176 48,840 SH   SOLE   48,840 0 0
Charter Communications Inc. N CL A 16119P108   4,552,733 12,731 SH   SOLE   12,731 0 0
Check Point Software Tech LT ORD M22465104   4,788,160 36,832 SH   SOLE   36,832 0 0
Chord Energy Corp. COM 674215207   409,319 3,041 SH   SOLE   3,041 0 0
Chubb Corp. COM H1467J104   6,837,466 35,212 SH   SOLE   35,212 0 0
Cincinnati Financial Corp COM 172062101   446,527 3,984 SH   SOLE   3,984 0 0
Cisco Systems Inc. COM 17275R102   5,897,143 112,810 SH   SOLE   112,810 0 0
Citigroup Inc. COM 172967424   204,112 4,353 SH   SOLE   4,353 0 0
Clean Harbors Inc. COM 184496107   2,945,004 20,658 SH   SOLE   20,658 0 0
Cleveland-Cliffs Inc COM 185899101   203,408 11,097 SH   SOLE   11,097 0 0
CNH Industrial N V SHS N20944109   1,866,910 122,260 SH   SOLE   122,260 0 0
Commercial Metals Co. COM 201723103   252,324 5,160 SH   SOLE   5,160 0 0
Select Sector SPDR TR COMMUNICATION 81369Y852   3,079,019 53,114 SH   SOLE   53,114 0 0
Corning Inc. COM 219350105   3,067,384 86,944 SH   SOLE   86,944 0 0
Cummins Inc. COM 231021106   1,879,030 7,866 SH   SOLE   7,866 0 0
D.R. Horton Inc. COM 23331A109   7,836,301 80,216 SH   SOLE   80,216 0 0
Deere & Co. COM 244199105   3,237,392 7,841 SH   SOLE   7,841 0 0
Dick's Sporting Goods, Inc. COM 253393102   3,993,920 28,148 SH   SOLE   28,148 0 0
Diodes Inc. COM 254543101   360,836 3,890 SH   SOLE   3,890 0 0
Direxion Daily S&P500 Bear 1X COM 25460E869   23,280,711 1,502,951 SH   SOLE   1,502,951 0 0
Dolby Laboratories Inc. COM CL A 25659T107   3,746,009 43,854 SH   SOLE   43,854 0 0
Elevance Health Inc. COM 036752103   5,622,557 12,228 SH   SOLE   12,228 0 0
Energy Select Sector SPDR Fund COM 81369Y506   413,322 4,990 SH   SOLE   4,990 0 0
ENI S.p.A. ADS COM 26874R108   321,804 11,493 SH   SOLE   11,493 0 0
EOG Resources Inc. COM 26875P101   772,377 6,738 SH   SOLE   6,738 0 0
Equinor ASA Sponsored ADR COM 29446M102   4,400,168 154,772 SH   SOLE   154,772 0 0
Evercore Inc. (Cl A) COM 29977A105   270,797 2,347 SH   SOLE   2,347 0 0
Everest Re Group Ltd. COM G3223R108   786,928 2,198 SH   SOLE   2,198 0 0
Expeditors International of Wa COM 302130109   3,696,728 33,570 SH   SOLE   33,570 0 0
Exxon Mobil Corp. COM 30231G102   9,181,832 83,730 SH   SOLE   83,730 0 0
FedEx Corp. COM 31428X106   438,929 1,921 SH   SOLE   1,921 0 0
Fidelity Covington Trust MSCI ENERGY IDX 316092402   3,221,935 143,580 SH   SOLE   143,580 0 0
Flex Ltd. ORD Y2573F102   5,700,175 247,726 SH   SOLE   247,726 0 0
Fortinet Inc. COM 34959E109   5,098,479 76,715 SH   SOLE   76,715 0 0
Gerdau S.A. SPON ADR REP PFD 373737105   215,073 43,625 SH   SOLE   43,625 0 0
Gildan Activewear Inc. COM 375916103   380,424 11,462 SH   SOLE   11,462 0 0
Goldman Sachs ETF TR ACCES TREASURY 381430529   201,982 2,017 SH   SOLE   2,017 0 0
Goldman Sachs Group Inc. COM 38141G104   617,584 1,888 SH   SOLE   1,888 0 0
GSK plc Sponsored ADR COM 37733W204   224,154 6,300 SH   SOLE   6,300 0 0
Health Care Select Sector SPDR COM 81369Y209   2,232,926 17,248 SH   SOLE   17,248 0 0
Home Depot Inc. COM 437076102   3,077,806 10,429 SH   SOLE   10,429 0 0
Hub Group Inc (Cl A) COM 443320106   3,149,429 37,520 SH   SOLE   37,520 0 0
Humana Inc. COM 444859102   9,344,620 19,249 SH   SOLE   19,249 0 0
Imperial Oil Limited COM 453038408   4,058,906 79,884 SH   SOLE   79,884 0 0
Industrial Select Sector SPDR COM 81369Y704   3,139,717 31,031 SH   SOLE   31,031 0 0
Intel Corp. COM 458140100   250,938 7,681 SH   SOLE   7,681 0 0
Invesco CurrencyShares Euro Tr COM 46138K103   4,705,824 46,969 SH   SOLE   46,969 0 0
Invesco CurrencyShares Japanes COM 46138W107   11,508,845 164,097 SH   SOLE   164,097 0 0
Invesco NASDAQ 100 ETF COM 46138G649   241,974 1,833 SH   SOLE   1,833 0 0
iShares 0-5 Year TIPS Bond ETF COM 46429B747   5,447,429 54,897 SH   SOLE   54,897 0 0
iShares 1-3 Year Treasury Bond COM 464287457   11,911,146 144,975 SH   SOLE   144,975 0 0
iShares 20 Year Treasury Bond COM 464287432   2,692,225 25,310 SH   SOLE   25,310 0 0
iShares 7-10 Year Treasury Bon COM 464287440   2,815,900 28,409 SH   SOLE   28,409 0 0
iShares Core MSCI EAFE ETF COM 46432F842   5,007,132 74,901 SH   SOLE   74,901 0 0
iShares Core Total U.S. Bond M COM 464287226   3,534,629 35,474 SH   SOLE   35,474 0 0
iShares DJ US Home Constructio COM 464288752   2,770,059 39,409 SH   SOLE   39,409 0 0
iShares Edge MSCI USA Quality COM 46432F339   205,079 1,653 SH   SOLE   1,653 0 0
iShares Floating Rate Bond ETF COM 46429B655   4,448,883 88,289 SH   SOLE   88,289 0 0
iShares Gold Trust COM 464285204   9,975,735 266,945 SH   SOLE   266,945 0 0
iShares International Treasury COM 464288117   10,398,949 258,616 SH   SOLE   258,616 0 0
iShares JPMorgan USD Emerging COM 464288281   1,318,704 15,284 SH   SOLE   15,284 0 0
iShares MBS ETF COM 464288588   6,850,021 72,311 SH   SOLE   72,311 0 0
iShares MSCI Emerging Markets COM 46434G764   1,875,971 38,029 SH   SOLE   38,029 0 0
iShares MSCI Global Metals & M COM 46434G848   1,220,681 28,574 SH   SOLE   28,574 0 0
iShares S&P 500 Fund COM 464287200   5,920,374 14,402 SH   SOLE   14,402 0 0
iShares U.S. Healthcare Provid COM 464288828   2,496,821 10,100 SH   SOLE   10,100 0 0
iShares U.S. Insurance ETF COM 464288786   2,317,134 27,063 SH   SOLE   27,063 0 0
iShares US Transportation ETF COM 464287192   1,053,076 4,622 SH   SOLE   4,622 0 0
Jabil Inc. COM 466313103   6,612,088 75,001 SH   SOLE   75,001 0 0
Johnson & Johnson COM 478160104   362,700 2,340 SH   SOLE   2,340 0 0
KB Home COM 48666K109   2,731,677 67,986 SH   SOLE   67,986 0 0
KLA Corporation COM 482480100   7,657,278 19,183 SH   SOLE   19,183 0 0
Lam Research Corp. COM 512807108   15,202,781 28,678 SH   SOLE   28,678 0 0
Lennar Corp. (Cl A) COM 526057104   5,609,931 53,372 SH   SOLE   53,372 0 0
LKQ Corp. COM 501889208   5,718,627 100,751 SH   SOLE   100,751 0 0
LPL Financial Holdings Inc. COM 50212V100   402,574 1,989 SH   SOLE   1,989 0 0
M.D.C. Holdings Inc. COM 552676108   3,028,012 77,901 SH   SOLE   77,901 0 0
Marvell Technology Inc. COM 573874104   344,668 7,960 SH   SOLE   7,960 0 0
Mastercard Inc. Cl A COM 57636Q104   7,077,410 19,475 SH   SOLE   19,475 0 0
McKesson Corp. COM 58155Q103   2,268,039 6,370 SH   SOLE   6,370 0 0
Merck & Co. Inc. COM 58933Y105   10,148,648 95,391 SH   SOLE   95,391 0 0
Meritage Homes Corp. COM 59001A102   4,654,521 39,864 SH   SOLE   39,864 0 0
Meta Platforms Inc. CL A 30303M102   9,252,877 43,658 SH   SOLE   43,658 0 0
Microsoft Corp. COM 594918104   20,335,529 70,536 SH   SOLE   70,536 0 0
Mizuho Financial Group Inc. AD COM 60687Y109   270,700 95,993 SH   SOLE   95,993 0 0
MKS Instruments Inc. COM 55306N104   3,126,159 35,276 SH   SOLE   35,276 0 0
Morgan Stanley COM 617446448   645,418 7,351 SH   SOLE   7,351 0 0
MSC Industrial Direct Inc. CL A 553530106   1,563,072 18,608 SH   SOLE   18,608 0 0
Netflix Inc. COM 64110L106   6,175,455 17,875 SH   SOLE   17,875 0 0
Novartis AG ADS COM 66987V109   443,808 4,824 SH   SOLE   4,824 0 0
ODP Corporation COM 88337F105   2,233,077 49,646 SH   SOLE   49,646 0 0
Old Republic International Cor COM 680223104   345,260 13,827 SH   SOLE   13,827 0 0
Oracle Corp. COM 68389X105   7,824,143 84,203 SH   SOLE   84,203 0 0
Oxford Industries Inc COM 691497309   204,105 1,933 SH   SOLE   1,933 0 0
Paccar Inc. COM 693718108   2,703,276 36,930 SH   SOLE   36,930 0 0
Penske Automotive Grp Inc Com COM 70959W103   5,539,099 39,060 SH   SOLE   39,060 0 0
Petroleo Brasileiro SA Sponsor COM 71654V408   244,083 23,402 SH   SOLE   23,402 0 0
Pfizer Inc. COM 717081103   3,938,587 96,534 SH   SOLE   96,534 0 0
Progress Software Corp COM 743312100   2,375,328 41,346 SH   SOLE   41,346 0 0
ProShares Short Russell2000 COM 74348A210   12,283,211 512,441 SH   SOLE   512,441 0 0
PulteGroup Inc. COM 745867101   7,134,812 122,423 SH   SOLE   122,423 0 0
Qualys, Inc. COM 74758T303   3,809,716 29,301 SH   SOLE   29,301 0 0
Raymond James Financial Inc COM 754730109   209,391 2,245 SH   SOLE   2,245 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107   4,391,826 5,345 SH   SOLE   5,345 0 0
Reinsurance Group of America I COM 759351604   3,845,792 28,968 SH   SOLE   28,968 0 0
Republic Services Inc. COM 760759100   4,946,348 36,580 SH   SOLE   36,580 0 0
Rio Tinto PLC ADS COM 767204100   5,428,798 79,137 SH   SOLE   79,137 0 0
Ryerson Holding Corporation COM 783754104   206,093 5,665 SH   SOLE   5,665 0 0
Sanmina Corporation COM 801056102   2,988,449 48,999 SH   SOLE   48,999 0 0
Schwab Fundamental Internation COM 808524755   238,528 7,628 SH   SOLE   7,628 0 0
Shell PLC Sponsored ADR COM 780259305   6,925,284 120,356 SH   SOLE   120,356 0 0
Signet Jewelers Ltd. COM G81276100   3,602,147 46,312 SH   SOLE   46,312 0 0
Skyworks Solutions Inc COM 83088M102   330,108 2,798 SH   SOLE   2,798 0 0
SolarEdge Technologies, Inc. COM 83417M104   7,400,271 24,347 SH   SOLE   24,347 0 0
Southern Copper Corp. COM 84265V105   5,292,589 69,411 SH   SOLE   69,411 0 0
SPDR Barclays International Co COM 78464A151   5,439,353 190,587 SH   SOLE   190,587 0 0
SPDR Barclays Short Term High COM 78468R408   5,626,185 226,497 SH   SOLE   226,497 0 0
SPDR Bloomberg Barclays Intern COM 78464A516   19,011,761 822,308 SH   SOLE   822,308 0 0
SPDR Gold Trust COM 78463V107   8,281,178 45,198 SH   SOLE   45,198 0 0
SPDR S&P Homebuilders ETF COM 78464A888   784,186 11,573 SH   SOLE   11,573 0 0
SPDR S&P Metals & Mining ETF COM 78464A755   865,285 16,277 SH   SOLE   16,277 0 0
SPDR S&P Retail ETF COM 78464A714   3,328,345 52,481 SH   SOLE   52,481 0 0
SPDR S&P Semiconductor ETF COM 78464A862   1,281,553 6,143 SH   SOLE   6,143 0 0
SPDR SER TR COMP SOFTWARE 78464A599   791,709 6,433 SH   SOLE   6,433 0 0
Star Bulk Carriers Corp. COM Y8162K204   219,395 10,388 SH   SOLE   10,388 0 0
Steel Dynamics Inc. COM 858119100   4,406,853 38,978 SH   SOLE   38,978 0 0
Madden Steven Ltd COM 556269108   231,588 6,433 SH   SOLE   6,433 0 0
Stifel Financial Corp. COM 860630102   340,122 5,756 SH   SOLE   5,756 0 0
Suncor Energy Inc. COM 867224107   3,920,715 126,271 SH   SOLE   126,271 0 0
Takeda Pharmaceutical Co. Ltd. COM 874060205   292,141 17,727 SH   SOLE   17,727 0 0
Target Corp. COM 87612E106   5,115,648 30,886 SH   SOLE   30,886 0 0
Taylor Morrison Home Corp. Cla COM 87724P106   3,424,193 89,498 SH   SOLE   89,498 0 0
TE Connectivity Ltd. SHS H84989104   6,371,398 48,581 SH   SOLE   48,581 0 0
Technology Select Sector SPDR COM 81369Y803   11,564,950 76,584 SH   SOLE   76,584 0 0
Teck Resources Limited Class B COM 878742204   4,276,997 117,178 SH   SOLE   117,178 0 0
Terex Corp. COM 880779103   2,276,860 47,062 SH   SOLE   47,062 0 0
Ternium S.A. Sponsored ADR COM 880890108   338,992 8,216 SH   SOLE   8,216 0 0
Toll Brothers Inc. COM 889478103   4,910,274 81,797 SH   SOLE   81,797 0 0
Travelers Companies, Inc. COM 89417E109   7,088,146 41,352 SH   SOLE   41,352 0 0
TRI Pointe Group Inc COM 87265H109   436,264 17,230 SH   SOLE   17,230 0 0
Triton International Ltd. Clas COM G9078F107   2,690,137 42,552 SH   SOLE   42,552 0 0
Ulta Beauty, Inc. COM 90384S303   4,788,254 8,775 SH   SOLE   8,775 0 0
United Parcel Service Inc. Cl COM 911312106   4,872,059 25,115 SH   SOLE   25,115 0 0
United Rentals Inc. COM 911363109   6,779,369 17,130 SH   SOLE   17,130 0 0
United States Steel Corp. COM 912909108   3,745,507 143,506 SH   SOLE   143,506 0 0
UnitedHealth Group Inc. COM 91324P102   11,930,062 25,244 SH   SOLE   25,244 0 0
Univar Solutions, Inc. COM 91336L107   297,650 8,497 SH   SOLE   8,497 0 0
VanEck Vectors J.P. Morgan EM COM 92189H300   12,028,848 476,390 SH   SOLE   476,390 0 0
Vanguard Mortgage-Backed Secur COM 92206C771   8,265,790 177,568 SH   SOLE   177,568 0 0
Vanguard Russell 1000 Value ET COM 92206C714   3,429,023 51,325 SH   SOLE   51,325 0 0
Vanguard Short-Term Corporate COM 92206C409   1,935,480 25,390 SH   SOLE   25,390 0 0
Vanguard Short-Term Inflation- COM 922020805   4,236,135 88,585 SH   SOLE   88,585 0 0
Vanguard Short-Term Treasury E COM 92206C102   709,036 12,112 SH   SOLE   12,112 0 0
Verizon Communications Inc. COM 92343V104   4,986,981 128,233 SH   SOLE   128,233 0 0
Visa Inc. COM CL A 92826C839   5,836,934 25,889 SH   SOLE   25,889 0 0
W.R. Berkley Corp. COM 084423102   2,703,080 43,416 SH   SOLE   43,416 0 0
Waste Management Inc. COM 94106L109   4,947,967 30,324 SH   SOLE   30,324 0 0
Wesco International Inc. COM 95082P105   4,490,005 29,054 SH   SOLE   29,054 0 0
Williams-Sonoma Inc. COM 969904101   2,667,396 21,925 SH   SOLE   21,925 0 0