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
ALPS ETF TR ALERIAN MLP Com 00162Q452 1,854 48,408 SH   DFND   0 0 48,408
FIRST TR EXCHANGE TRADED FD II CONSUMR DISCRE Com 33734X101 2,546 46,748 SH   DFND   0 0 46,748
FIRST TR EXCHANGE TRADED FD II TECH ALPHADEX Com 33734X176 4,882 42,038 SH   DFND   0 0 42,038
FIRST TR EXCHANGE-TRADED FD IV SENIOR LN FD Com 33738D309 16,790 356,867 SH   DFND   0 0 356,867
INVESCO ACTVELY MNGD ETC FD TR OPTIMUM YIELD Com 46090F100 16,299 923,996 SH   DFND   0 0 923,996
INVESCO EXCH TRD SLF IDX FD TR BULSHS 2024 CB Com 46138J841 16,371 777,010 SH   DFND   0 0 777,010
INVESCO EXCHANGE TRADED FD TR SandP500 EQL TEC Com 46137V282 19,345 66,908 SH   DFND   0 0 66,908
INVESCO EXCHANGE TRADED FD TR SandP500 EQL Com 46137V357 14,052 89,106 SH   DFND   0 0 89,106
ISHARES INC MSCI BRAZIL ETF Com 464286400 44 1,166 SH   DFND   0 0 1,166
ISHARES INC MSCI CHILE ETF Com 464286640 171 5,887 SH   DFND   0 0 5,887
ISHARES INC MSCI EMRG CHN Com 46434G764 17,011 292,388 SH   DFND   0 0 292,388
ISHARES INC MSCI EQUAL WEITE Com 464286681 9,834 115,931 SH   DFND   0 0 115,931
ISHARES INC MSCI MEXICO ETF Com 464286822 173 3,149 SH   DFND   0 0 3,149
ISHARES INC MSCI MLY ETF NEW Com 46434G814 166 6,503 SH   DFND   0 0 6,503
ISHARES INC MSCI RUSSIA ETF Com 46434G798 0 26 SH   DFND   0 0 26
ISHARES INC MSCI STH AFR ETF Com 464286780 164 2,967 SH   DFND   0 0 2,967
ISHARES INC MSCI TAIWAN ETF Com 46434G772 113 1,846 SH   DFND   0 0 1,846
ISHARES INC MSCI THAILND ETF Com 464286624 167 2,153 SH   DFND   0 0 2,153
ISHARES INC MSCI TURKEY ETF Com 464286715 130 6,305 SH   DFND   0 0 6,305
ISHARES TR 20 YR TR BD ETF Com 464287432 457 3,461 SH   DFND   0 0 3,461
ISHARES TR CORE US AGGBD ET Com 464287226 659 6,155 SH   DFND   0 0 6,155
ISHARES TR ESG AWR US AGRGT Com 46435U549 1 21 SH   DFND   0 0 21
ISHARES TR FLTG RATE NT ETF Com 46429B655 25 501 SH   DFND   0 0 501
ISHARES TR IBOXX HI YD ETF Com 464288513 24 301 SH   DFND   0 0 301
ISHARES TR ISHS 1-5YR INVS Com 464288646 2,002 38,723 SH   DFND   0 0 38,723
ISHARES TR ISHS 5-10YR INVT Com 464288638 19 360 SH   DFND   0 0 360
ISHARES TR MSCI CHINA ETF Com 46429B671 125 2,367 SH   DFND   0 0 2,367
ISHARES TR MSCI INDIA ETF Com 46429B598 0 3 SH   DFND   0 0 3
ISHARES TR MSCI INDONIA ETF Com 46429B309 158 6,385 SH   DFND   0 0 6,385
ISHARES TR MSCI PHILIPS ETF Com 46429B408 129 4,179 SH   DFND   0 0 4,179
ISHARES TR MSCI POLAND ETF Com 46429B606 118 6,243 SH   DFND   0 0 6,243
ISHARES TR MSCI USA ESG SLC Com 464288802 4 48 SH   DFND   0 0 48
ISHARES TR MSCI USA MIN VOL Com 46429B697 21,204 273,356 SH   DFND   0 0 273,356
ISHARES TR SELECT DIVID ETF Com 464287168 9,429 73,591 SH   DFND   0 0 73,591
ISHARES TR SHORT TREAS BD Com 464288679 16,242 147,327 SH   DFND   0 0 147,327
ISHARES TR TIPS BD ETF Com 464287176 1,794 14,408 SH   DFND   0 0 14,408
ISHARES U S ETF TR BLACKROCK ST MAT Com 46431W507 2,102 42,414 SH   DFND   0 0 42,414
PIMCO ETF TR 0-5 HIGH YIELD Com 72201R783 33 347 SH   DFND   0 0 347
SELECT SECTOR SPDR TR ENERGY Com 81369Y506 4,663 61,005 SH   DFND   0 0 61,005
SELECT SECTOR SPDR TR SBI CONS DISCR Com 81369Y407 8,566 46,304 SH   DFND   0 0 46,304
SELECT SECTOR SPDR TR SBI CONS STPLS Com 81369Y308 6,766 89,167 SH   DFND   0 0 89,167
SELECT SECTOR SPDR TR SBI HEALTHCARE Com 81369Y209 11,614 84,780 SH   DFND   0 0 84,780
SELECT SECTOR SPDR TR SBI MATERIALS Com 81369Y100 3,614 41,008 SH   DFND   0 0 41,008
SELECT SECTOR SPDR TR TECHNOLOGY Com 81369Y803 1,556 9,794 SH   DFND   0 0 9,794
SPDR GOLD TR GOLD SHS Com 78463V107 19,091 105,685 SH   DFND   0 0 105,685
SPDR SandP 500 ETF TR TR UNIT Com 78462F103 362 802 SH   DFND   0 0 802
SPDR SER TR BLOOMBERG INVT Com 78468R200 19,739 647,408 SH   DFND   0 0 647,408
SPDR SER TR PORTFOLI SandP1500 Com 78464A805 51,492 926,449 SH   DFND   0 0 926,449
SPDR SER TR PORTFOLIO SandP400 Com 78464A847 17,132 363,286 SH   DFND   0 0 363,286
SPDR SER TR PORTFOLIO SandP500 Com 78464A854 51,230 964,245 SH   DFND   0 0 964,245
SSGA ACTIVE ETF TR BLACKSTONE SENR Com 78467V608 16,730 372,116 SH   DFND   0 0 372,116
VANECK ETF TRUST FALLEN ANGEL HG Com 92189F437 25 836 SH   DFND   0 0 836
VANGUARD BD INDEX FDS SHORT TRM BOND Com 921937827 17 222 SH   DFND   0 0 222
VANGUARD INDEX FDS REAL ESTATE ETF Com 922908553 19,035 175,649 SH   DFND   0 0 175,649
VICTORY PORTFOLIOS II VICTORYSHS SHORT Com 92647N535 15,358 308,020 SH   DFND   0 0 308,020