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
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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
A10 Networks, Inc. COM 002121101   223,331 14,859 SH   SOLE   14,859 0 0
Aberdeen Standard Bloomberg Al BBRG ALL COMD K1 003261104   780,732 36,984 SH   SOLE   36,984 0 0
Adobe Inc. COM 00724F101   5,054,639 9,913 SH   SOLE   9,913 0 0
AerCap Holdings NV SHS N00985106   4,330,434 69,099 SH   SOLE   69,099 0 0
AGCO Corp. COM 001084102   1,703,705 14,404 SH   SOLE   14,404 0 0
Akamai Technologies Inc. COM 00971T101   6,085,884 57,123 SH   SOLE   57,123 0 0
Allison Transmission Holdings COM 01973R101   2,582,635 43,729 SH   SOLE   43,729 0 0
Alphabet Inc. CAP STK CL A 02079K305   9,765,166 74,623 SH   SOLE   74,623 0 0
Amdocs Ltd. SHS G02602103   217,477 2,574 SH   SOLE   2,574 0 0
American Airlines Group Inc. COM 02376R102   211,006 16,472 SH   SOLE   16,472 0 0
Amkor Technology Inc. COM 031652100   285,076 12,614 SH   SOLE   12,614 0 0
Andersons Inc. COM 034164103   268,316 5,209 SH   SOLE   5,209 0 0
APA Corp. COM 03743Q108   518,230 12,609 SH   SOLE   12,609 0 0
Apple Inc. COM 037833100   16,214,785 94,707 SH   SOLE   94,707 0 0
Applied Materials Inc. COM 038222105   12,894,956 93,138 SH   SOLE   93,138 0 0
ArcBest Corporation COM 03937C105   2,026,088 19,932 SH   SOLE   19,932 0 0
ArcelorMittal SA ADR NY REGISTRY SH 03938L203   260,712 10,416 SH   SOLE   10,416 0 0
Archer Daniels Midland Co. COM 039483102   522,434 6,927 SH   SOLE   6,927 0 0
AutoNation Inc. COM 05329W102   4,639,804 30,646 SH   SOLE   30,646 0 0
Axis Capital Holdings Ltd SHS G0692U109   300,170 5,325 SH   SOLE   5,325 0 0
Baker Hughes Company CL A 05722G100   4,802,672 135,976 SH   SOLE   135,976 0 0
Banco Santander S.A. ADR 05964H105   299,330 79,609 SH   SOLE   79,609 0 0
Barclays PLC ADR 06738E204   218,447 28,042 SH   SOLE   28,042 0 0
Boise Cascade Co. Del COM 09739D100   2,365,077 22,953 SH   SOLE   22,953 0 0
Bunge Ltd. COM G16962105   432,675 3,997 SH   SOLE   3,997 0 0
Canadian Natural Resources Ltd COM 136385101   902,987 13,963 SH   SOLE   13,963 0 0
Cardinal Health Inc. COM 14149Y108   6,207,109 71,494 SH   SOLE   71,494 0 0
Caterpillar Inc. COM 149123101   3,794,154 13,898 SH   SOLE   13,898 0 0
Cemex S.A.B. de C.V. SPON ADR NEW 151290889   3,720,633 572,405 SH   SOLE   572,405 0 0
Cencora Inc. COM 03073E105   6,389,475 35,503 SH   SOLE   35,503 0 0
Centene Corp. COM 15135B101   5,239,151 76,062 SH   SOLE   76,062 0 0
Charter Communications Inc. CL A 16119P108   5,304,669 12,061 SH   SOLE   12,061 0 0
Check Point Software Tech LT ORD M22465104   5,216,979 39,143 SH   SOLE   39,143 0 0
Chord Energy Corp. COM 674215207   486,048 2,999 SH   SOLE   2,999 0 0
Cisco Systems Inc. COM 17275R102   5,746,675 106,895 SH   SOLE   106,895 0 0
Cognizant Technology Solutions CL A 192446102   327,049 4,828 SH   SOLE   4,828 0 0
Commercial Metals Co. COM 201723103   251,546 5,091 SH   SOLE   5,091 0 0
Communication Services Select COMMUNICATION 81369Y852   4,731,203 72,155 SH   SOLE   72,155 0 0
Consumer Discretionary Select SBI CONS DISCR 81369Y407   389,250 2,418 SH   SOLE   2,418 0 0
Corning Inc. COM 219350105   2,510,088 82,379 SH   SOLE   82,379 0 0
CRH PLC ADR 12626K203   5,697,174 104,096 SH   SOLE   104,096 0 0
Cummins Inc. COM 231021106   1,702,027 7,450 SH   SOLE   7,450 0 0
D.R. Horton Inc. COM 23331A109   8,166,753 75,991 SH   SOLE   75,991 0 0
Deere & Co. COM 244199105   3,580,581 9,488 SH   SOLE   9,488 0 0
Delta Air Lines Inc. COM NEW 247361702   478,558 12,934 SH   SOLE   12,934 0 0
Diodes Inc. COM 254543101   302,036 3,831 SH   SOLE   3,831 0 0
Direxion Daily S&P500 Bear 1X DLY S&P500 BR 1X 25460E869   26,575,146 1,790,778 SH   SOLE   1,790,778 0 0
Dolby Laboratories Inc. COM CL A 25659T107   3,506,938 44,246 SH   SOLE   44,246 0 0
Dropbox, Inc. CL A 26210C104   350,695 12,879 SH   SOLE   12,879 0 0
Eagle Materials Inc. COM 26969P108   3,751,529 22,529 SH   SOLE   22,529 0 0
Elevance Health Inc. COM 036752103   6,519,979 14,974 SH   SOLE   14,974 0 0
Energy Select Sector SPDR TR ENERGY 81369Y506   342,578 3,790 SH   SOLE   3,790 0 0
ENI S.p.A. SPONSORED ADR 26874R108   361,781 11,334 SH   SOLE   11,334 0 0
EOG Resources Inc. COM 26875P101   842,067 6,643 SH   SOLE   6,643 0 0
Everest Group Ltd. COM G3223R108   5,491,796 14,776 SH   SOLE   14,776 0 0
Exxon Mobil Corp. COM 30231G102   9,351,960 79,537 SH   SOLE   79,537 0 0
Fidelity Covington Trust MSCI ENERGY IDX 316092402   1,767,414 70,952 SH   SOLE   70,952 0 0
Financial Select Sector SPDR TR FINANCIAL 81369Y605   1,562,108 47,094 SH   SOLE   47,094 0 0
Flex Ltd. COM Y2573F102   6,332,881 234,725 SH   SOLE   234,725 0 0
Fortinet Inc. COM 34959E109   4,265,273 72,687 SH   SOLE   72,687 0 0
Fresh Del Monte Produce Inc. ORD G36738105   223,077 8,633 SH   SOLE   8,633 0 0
General Motors Co. COM 37045V100   321,490 9,751 SH   SOLE   9,751 0 0
Gerdau S.A. SPON ADR REP PFD 373737105   206,880 43,371 SH   SOLE   43,371 0 0
GMS Inc. COM 36251C103   2,114,528 33,055 SH   SOLE   33,055 0 0
GoDaddy, Inc. CL A 380237107   4,779,903 64,177 SH   SOLE   64,177 0 0
Goldman Sachs ETF TR ACCES TREASURY 381430529   256,081 2,558 SH   SOLE   2,558 0 0
Goldman Sachs Group Inc. COM 38141G104   603,134 1,864 SH   SOLE   1,864 0 0
Halliburton Co. COM 406216101   4,755,834 117,428 SH   SOLE   117,428 0 0
HCA Healthcare Inc COM 40412C101   4,506,846 18,322 SH   SOLE   18,322 0 0
Health Care Select Sector SPDR SBI HEALTHCARE 81369Y209   3,398,221 26,396 SH   SOLE   26,396 0 0
Home Depot Inc. COM 437076102   2,985,039 9,879 SH   SOLE   9,879 0 0
Humana Inc. COM 444859102   8,851,745 18,194 SH   SOLE   18,194 0 0
Industrial Select Sector SPDR INDL 81369Y704   3,288,463 32,437 SH   SOLE   32,437 0 0
Ingredion Incorporated COM 457187102   327,967 3,333 SH   SOLE   3,333 0 0
Intel Corp. COM 458140100   268,900 7,564 SH   SOLE   7,564 0 0
Invesco CurrencyShares Euro EURO SHS 46138K103   4,369,730 44,726 SH   SOLE   44,726 0 0
Invesco CurrencyShares Japan JAPANESE YEN 46138W107   2,892,519 46,511 SH   SOLE   46,511 0 0
Invesco Exchange Traded FD T S&P500 EQL DIS 46137V381   1,199,953 28,516 SH   SOLE   28,516 0 0
iShares 0-5 Year High Yield Co 0-5YR HI YL CP 46434V407   3,117,377 75,978 SH   SOLE   75,978 0 0
iShares 0-5 Year TIPS Bond ETF 0-5 YR TIPS ETF 46429B747   5,320,617 54,897 SH   SOLE   54,897 0 0
iShares 1-3 Year Treasury Bond 1 3 YR TREAS BD 464287457   13,513,326 166,893 SH   SOLE   166,893 0 0
iShares 20 Year Treasury Bond 20 YR TR BD ETF 464287432   2,146,741 24,205 SH   SOLE   24,205 0 0
iShares 5-10yr Investment Grad ISHS 5-10YR INVT 464288638   12,895,510 265,067 SH   SOLE   265,067 0 0
iShares 7-10 Year Treasury Bon 7-10 YR TRSY BD 464287440   2,624,695 28,657 SH   SOLE   28,657 0 0
iShares Core MSCI EAFE ETF CORE MSCI EAFE 46432F842   4,819,879 74,901 SH   SOLE   74,901 0 0
iShares Core Total U.S. Bond M CORE US AGGBD ET 464287226   3,335,975 35,474 SH   SOLE   35,474 0 0
iShares DJ US Home Constructio US HOME CONS ETF 464288752   3,063,543 39,031 SH   SOLE   39,031 0 0
iShares International Treasury INTL TREA BD ETF 464288117   11,897,336 320,079 SH   SOLE   320,079 0 0
iShares JPMorgan USD Emerging JPMORGAN USD EMG 464288281   643,243 7,795 SH   SOLE   7,795 0 0
iShares MBS ETF MBS ETF 464288588   1,776,089 20,001 SH   SOLE   20,001 0 0
iShares MSCI Emerging Markets MSCI EMRG CHN 46434G764   1,847,098 37,068 SH   SOLE   37,068 0 0
iShares MSCI Global Metals & M MSCI GBL ETF NEW 46434G848   506,026 12,727 SH   SOLE   12,727 0 0
iShares S&P 500 Fund CORE S&P500 ETF 464287200   6,184,651 14,402 SH   SOLE   14,402 0 0
iShares U.S. Healthcare Provid US HLTHCR PR ETF 464288828   2,405,874 9,776 SH   SOLE   9,776 0 0
iShares U.S. Oil Equipment & S US OIL EQ&SV ETF 464288844   1,202,264 50,011 SH   SOLE   50,011 0 0
iShares US Transportation ETF US TRSPRTION 464287192   615,283 2,632 SH   SOLE   2,632 0 0
J.B. Hunt Transport Services I COM 445658107   3,512,316 18,631 SH   SOLE   18,631 0 0
Jabil Inc. COM 466313103   9,017,565 71,066 SH   SOLE   71,066 0 0
KB Home COM 48666K109   2,995,982 64,736 SH   SOLE   64,736 0 0
KLA Corporation COM 482480100   8,332,476 18,167 SH   SOLE   18,167 0 0
Lam Research Corp. COM 512807108   17,061,306 27,221 SH   SOLE   27,221 0 0
Lennar Corp. CL A 526057104   5,698,703 50,777 SH   SOLE   50,777 0 0
Liberty Energy, Inc. COM CL A 53115L104   2,037,811 110,033 SH   SOLE   110,033 0 0
LKQ Corp. COM 501889208   4,735,186 95,641 SH   SOLE   95,641 0 0
M.D.C. Holdings Inc. COM 552676108   3,043,145 73,809 SH   SOLE   73,809 0 0
Martin Marietta Materials Inc. COM 573284106   3,666,407 8,932 SH   SOLE   8,932 0 0
Marvell Technology Inc. COM 573874104   424,325 7,839 SH   SOLE   7,839 0 0
Mastercard Inc. CL A 57636Q104   7,304,540 18,450 SH   SOLE   18,450 0 0
McKesson Corp. COM 58155Q103   7,877,308 18,115 SH   SOLE   18,115 0 0
Merck & Co. Inc. COM 58933Y105   8,847,626 85,941 SH   SOLE   85,941 0 0
Meritage Homes Corp. COM 59001A102   4,646,781 37,967 SH   SOLE   37,967 0 0
Meta Platforms Inc. CL A 30303M102   12,419,087 41,368 SH   SOLE   41,368 0 0
Microsoft Corp. COM 594918104   21,101,888 66,831 SH   SOLE   66,831 0 0
Mizuho Financial Group Inc. SPONSORED ADR 60687Y109   325,126 94,789 SH   SOLE   94,789 0 0
MKS Instruments Inc. COM 55306N104   2,891,648 33,414 SH   SOLE   33,414 0 0
Molina Healthcare Inc. COM 60855R100   335,431 1,023 SH   SOLE   1,023 0 0
MSC Industrial Direct Inc. CL A 553530106   1,730,188 17,628 SH   SOLE   17,628 0 0
Netflix Inc. COM 64110L106   6,394,278 16,934 SH   SOLE   16,934 0 0
NOV Inc. COM 62955J103   3,021,659 144,577 SH   SOLE   144,577 0 0
Nucor Corp. COM 670346105   3,266,152 20,890 SH   SOLE   20,890 0 0
Okta, Inc. CL A 679295105   5,742,706 70,454 SH   SOLE   70,454 0 0
Old Republic International Cor COM 680223104   367,327 13,635 SH   SOLE   13,635 0 0
Oracle Corp. COM 68389X105   8,450,298 79,780 SH   SOLE   79,780 0 0
Paccar Inc. COM 693718108   3,783,135 44,497 SH   SOLE   44,497 0 0
Penske Automotive Grp Inc COM 70959W103   6,181,554 37,002 SH   SOLE   37,002 0 0
Petroleo Brasileiro SA Petro SPONSORED ADR 71654V408   346,104 23,089 SH   SOLE   23,089 0 0
Progress Software Corp COM 743312100   2,264,831 43,074 SH   SOLE   43,074 0 0
ProShares Short Russell2000 SHRT RUSSELL2000 74348A210   14,658,840 605,487 SH   SOLE   605,487 0 0
PTC Inc. COM 69370C100   487,521 3,441 SH   SOLE   3,441 0 0
PulteGroup Inc. COM 745867101   8,587,282 115,966 SH   SOLE   115,966 0 0
Qualys, Inc. COM 74758T303   4,235,093 27,762 SH   SOLE   27,762 0 0
Raymond James Financial Inc COM 754730109   220,946 2,200 SH   SOLE   2,200 0 0
Reinsurance Group of America I COM NEW 759351604   4,850,943 33,411 SH   SOLE   33,411 0 0
RenaissanceRe Holdings Ltd. COM G7496G103   4,781,945 24,161 SH   SOLE   24,161 0 0
Rush Enterprises Inc Cl A CL A 781846209   2,429,752 59,509 SH   SOLE   59,509 0 0
Ryanair Holdings PLC SPONSORED ADS 783513203   406,241 4,179 SH   SOLE   4,179 0 0
Ryder System Inc. COM 783549108   2,351,724 21,989 SH   SOLE   21,989 0 0
Schlumberger COM STK 806857108   5,705,005 97,856 SH   SOLE   97,856 0 0
Schneider National, Inc. CL B 80689H102   1,945,804 70,271 SH   SOLE   70,271 0 0
Shell PLC SPON ADS 780259305   7,356,188 114,262 SH   SOLE   114,262 0 0
Skyworks Solutions Inc COM 83088M102   271,714 2,756 SH   SOLE   2,756 0 0
SolarEdge Technologies, Inc. COM 83417M104   2,987,019 23,064 SH   SOLE   23,064 0 0
SPDR Barclays International Co BLOOMBERG INTL 78464A151   4,933,997 181,865 SH   SOLE   181,865 0 0
SPDR Barclays Short Term High BLOOMBERG SHT TE 78468R408   2,038,496 83,340 SH   SOLE   83,340 0 0
SPDR Bloomberg Barclays 1-3 Mo BLOOMBERG 1-3 MO 78468R663   1,921,701 20,929 SH   SOLE   20,929 0 0
SPDR Bloomberg Barclays Intern BLOOMBERG INTL T 78464A516   12,144,586 571,779 SH   SOLE   571,779 0 0
SPDR S&P Homebuilders ETF S&P HOMEBUILD 78464A888   855,823 11,177 SH   SOLE   11,177 0 0
SPDR S&P Metals & Mining ETF S&P METALS MNG 78464A755   862,418 16,427 SH   SOLE   16,427 0 0
SPDR S&P Retail ETF S&P RETAIL ETF 78464A714   1,924,089 31,615 SH   SOLE   31,615 0 0
SPDR S&P Semiconductor ETF S&P SEMICNDCTR 78464A862   1,097,264 5,598 SH   SOLE   5,598 0 0
SPDR S&P Software & Services E COMP SOFTWARE 78464A599   823,713 6,492 SH   SOLE   6,492 0 0
Steel Dynamics Inc. COM 858119100   3,959,849 36,932 SH   SOLE   36,932 0 0
Stifel Financial Corp. COM 860630102   348,303 5,669 SH   SOLE   5,669 0 0
Summit Materials, Inc. CL A 86614U100   3,708,494 119,091 SH   SOLE   119,091 0 0
Suncor Energy Inc. COM 867224107   422,255 12,282 SH   SOLE   12,282 0 0
T-Mobile US Inc COM 872590104   4,161,446 29,714 SH   SOLE   29,714 0 0
Taylor Morrison Home Corp. Cla COM 87724P106   3,613,285 84,799 SH   SOLE   84,799 0 0
TE Connectivity Ltd. SHS H84989104   5,686,333 46,032 SH   SOLE   46,032 0 0
Technology Select Sector SPDR TECHNOLOGY 81369Y803   12,422,124 75,777 SH   SOLE   75,777 0 0
Tenaris S.A. SPONSORED ADS 88031M109   3,919,822 124,045 SH   SOLE   124,045 0 0
Tenet Healthcare Corporation COM NEW 88033G407   2,216,144 33,634 SH   SOLE   33,634 0 0
Terex Corp. COM 880779103   2,568,988 44,585 SH   SOLE   44,585 0 0
Ternium S.A. Sponsored ADR COM 880890108   322,871 8,092 SH   SOLE   8,092 0 0
Textainer Group Holdings Ltd S SHS G8766E109   2,410,410 64,709 SH   SOLE   64,709 0 0
TFI International Inc. COM 87241L109   3,618,337 28,178 SH   SOLE   28,178 0 0
Toll Brothers Inc. COM 889478103   5,752,313 77,776 SH   SOLE   77,776 0 0
TRI Pointe Group Inc COM 87265H109   464,075 16,968 SH   SOLE   16,968 0 0
Triton International Ltd. CL A G9078F107   420,501 5,286 SH   SOLE   5,286 0 0
United Airlines Holdings, Inc. COM 910047109   269,028 6,360 SH   SOLE   6,360 0 0
United Rentals Inc. COM 911363109   7,214,927 16,229 SH   SOLE   16,229 0 0
United States Steel Corp. COM 912909108   4,427,901 136,327 SH   SOLE   136,327 0 0
UnitedHealth Group Inc. COM 91324P102   12,645,589 25,081 SH   SOLE   25,081 0 0
VanEck Vectors J.P. Morgan EM JP MRGAN EM LO 92189H300   5,698,604 238,735 SH   SOLE   238,735 0 0
Vanguard Russell 1000 Value ET VNG RUS1000VAL 92206C714   3,421,325 51,325 SH   SOLE   51,325 0 0
Vanguard Short-Term Corporate SHRT TRM CORP BD 92206C409   1,908,059 25,390 SH   SOLE   25,390 0 0
Vanguard Short-Term Inflation- STRM INFPROIDX 922020805   4,039,698 85,442 SH   SOLE   85,442 0 0
Vanguard Short-Term Treasury E SHORT TERM TREAS 92206C102   697,651 12,112 SH   SOLE   12,112 0 0
Visa Inc. COM CL A 92826C839   5,640,535 24,523 SH   SOLE   24,523 0 0
Wesco International Inc. COM 95082P105   4,949,565 34,415 SH   SOLE   34,415 0 0
Williams-Sonoma Inc. COM 969904101   3,227,347 20,768 SH   SOLE   20,768 0 0
Wipro Ltd. ADS SPON ADR 1 SH 97651M109   313,719 64,818 SH   SOLE   64,818 0 0
Wix.com Ltd. SHS M98068105   4,361,418 47,510 SH   SOLE   47,510 0 0