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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
ALPS ETF TR ALERIAN MLP 00162Q452   256,660 5,408 SH   DFND   0 0 5,408
BONDBLOXX ETF TRUST BLOOMBERG SEVEN 09789C820   8,265,860 174,128 SH   DFND   0 0 174,128
FIRST TR EXCHANGE-TRADED FD SMID RISNG ETF 33741X102   8,603,280 247,078 SH   DFND   0 0 247,078
FIRST TR EXCHNG TRADED FD VI FT VEST US EQT 33740U208   22,514,950 506,523 SH   DFND   0 0 506,523
GOLDMAN SACHS ETF TR ACCES TREASURY 381430529   1,728,550 17,133 SH   DFND   0 0 17,133
INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF 46138G649   8,415,530 46,064 SH   DFND   0 0 46,064
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357   19,674,360 116,162 SH   DFND   0 0 116,162
INVESCO QQQ TR UNIT SER 1 46090E103   406,710 916 SH   DFND   0 0 916
ISHARES TR 20 YR TR BD ETF 464287432   413,680 4,372 SH   DFND   0 0 4,372
ISHARES TR 0-3 MNTH TREASRY 46436E718   6,188,700 61,450 SH   DFND   0 0 61,450
ISHARES TR SHORT TREAS BD 464288679   6,157,410 55,703 SH   DFND   0 0 55,703
ISHARES TR ISHS 1-5YR INVS 464288646   326,090 6,359 SH   DFND   0 0 6,359
ISHARES TR FLTG RATE NT ETF 46429B655   1,437,900 28,161 SH   DFND   0 0 28,161
ISHARES U S ETF TR BLACKROCK SH DUR 46431W507   1,283,950 25,445 SH   DFND   0 0 25,445
JANUS DETROIT STR TR HENDRSON AAA CL 47103U845   23,988,950 472,781 SH   DFND   0 0 472,781
KRANESHARES TRUST KFA MOUNT LUCAS 500767652   505,980 16,928 SH   DFND   0 0 16,928
PIMCO ETF TR MULTISECTOR BD 72201R585   8,293,480 321,952 SH   DFND   0 0 321,952
SELECT SECTOR SPDR TR ENERGY 81369Y506   3,163,960 33,513 SH   DFND   0 0 33,513
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308   5,080,990 66,540 SH   DFND   0 0 66,540
SELECT SECTOR SPDR TR INDL 81369Y704   6,885,480 54,664 SH   DFND   0 0 54,664
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860   12,185,840 308,268 SH   DFND   0 0 308,268
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407   8,568,910 46,598 SH   DFND   0 0 46,598
SIMPLIFY EXCHANGE TRADED FUN ENHANCED INM ETF 82889N632   10,151,860 416,060 SH   DFND   0 0 416,060
SPDR INDEX SHS FDS PORTFOLIO EMG MK 78463X509   10,600,370 292,908 SH   DFND   0 0 292,908
SPDR S&P 500 ETF TR TR UNIT 78462F103   285,070 545 SH   DFND   0 0 545
SPDR SER TR BLOOMBERG INVT 78468R200   23,635,080 766,626 SH   DFND   0 0 766,626
SPDR SER TR PORTFOLIO S&P500 78464A854   24,863,190 404,082 SH   DFND   0 0 404,082
SPDR SER TR PORTFOLI S&P1500 78464A805   10,471,540 163,235 SH   DFND   0 0 163,235
SSGA ACTIVE ETF TR BLACKSTONE SENR 78467V608   10,194,120 242,083 SH   DFND   0 0 242,083
VANGUARD WORLD FD COMM SRVC ETF 92204A884   7,234,290 55,131 SH   DFND   0 0 55,131