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
Expires: July 31, 2015
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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Abbott Laboratories COM 002824100 5,797,132 52,802 SH SOLE 52,802 0 0
AbbVie Inc. COM 00287Y109 8,241,140 50,994 SH SOLE 50,994 0 0
Aberdeen Standard Bloomberg Al COM 003261104 815,867 36,984 SH SOLE 36,984 0 0
ABM Industries Inc. COM 000957100 2,465,621 55,507 SH SOLE 55,507 0 0
Adobe Inc. COM 00724F101 3,592,794 10,676 SH SOLE 10,676 0 0
AGCO Corp. COM 001084102 2,153,440 15,527 SH SOLE 15,527 0 0
Albertsons Cos Inc. COM 013091103 1,777,750 85,716 SH SOLE 85,716 0 0
Allison Transmission Holdings I COM 01973R101 1,958,237 47,073 SH SOLE 47,073 0 0
Allstate Corp. COM 020002101 4,347,336 32,060 SH SOLE 32,060 0 0
Altria Group Inc. COM 02209S103 480,092 10,503 SH SOLE 10,503 0 0
AmerisourceBergen Corp. COM 03073E105 2,688,479 16,224 SH SOLE 16,224 0 0
Amkor Technology Inc. COM 031652100 326,008 13,595 SH SOLE 13,595 0 0
Anheuser-Busch InBev N.V. ADS COM 03524A108 2,481,453 41,330 SH SOLE 41,330 0 0
Antero Midstream Corp. COM 03676B102 382,937 35,490 SH SOLE 35,490 0 0
APA Corp. COM 03743Q108 6,182,673 132,448 SH SOLE 132,448 0 0
Apple Inc. COM 037833100 13,254,549 102,013 SH SOLE 102,013 0 0
Applied Materials Inc. COM 038222105 9,771,401 100,343 SH SOLE 100,343 0 0
ArcelorMittal SA ADR COM 03938L203 292,851 11,169 SH SOLE 11,169 0 0
Arch Capital Group Ltd. COM G0450A105 4,718,545 75,160 SH SOLE 75,160 0 0
Archer Daniels Midland Co. COM 039483102 3,834,798 41,301 SH SOLE 41,301 0 0
Atlas Air Worldwide Holdings COM 049164205 4,748,890 47,112 SH SOLE 47,112 0 0
AutoNation Inc. COM 05329W102 3,541,651 33,007 SH SOLE 33,007 0 0
Axis Capital Holdings Ltd COM G0692U109 2,463,543 45,478 SH SOLE 45,478 0 0
Banco Santander S.A. ADR COM 05964H105 251,254 85,171 SH SOLE 85,171 0 0
Bank of Nova Scotia COM 064149107 205,324 4,192 SH SOLE 4,192 0 0
Barclays PLC ADR COM 06738E204 233,906 29,988 SH SOLE 29,988 0 0
BHP Billiton Ltd. ADS COM 088606108 505,149 8,141 SH SOLE 8,141 0 0
BJ's Wholesale Club Holdings, COM 05550J101 6,839,025 103,371 SH SOLE 103,371 0 0
BP PLC ADS COM 055622104 6,420,099 183,799 SH SOLE 183,799 0 0
Bristol-Myers Squibb Co. COM 110122108 392,631 5,457 SH SOLE 5,457 0 0
British American Tobacco PLC A COM 110448107 468,965 11,730 SH SOLE 11,730 0 0
Bunge Ltd. COM G16962105 447,069 4,481 SH SOLE 4,481 0 0
C.H. Robinson Worldwide COM 12541W209 3,425,992 37,418 SH SOLE 37,418 0 0
California Resources Corp COM 13057Q305 2,752,747 63,267 SH SOLE 63,267 0 0
Canadian Natural Resources Ltd COM 136385101 833,006 15,001 SH SOLE 15,001 0 0
Cardinal Health Inc. COM 14149Y108 2,572,762 33,469 SH SOLE 33,469 0 0
Caterpillar Inc. COM 149123101 3,582,859 14,956 SH SOLE 14,956 0 0
Centene Corp. COM 15135B101 7,731,493 94,275 SH SOLE 94,275 0 0
Chord Energy Corp. COM 674215207 3,587,979 26,226 SH SOLE 26,226 0 0
Chubb Corp. COM H1467J104 7,926,820 35,933 SH SOLE 35,933 0 0
Cincinnati Financial Corp COM 172062101 431,881 4,218 SH SOLE 4,218 0 0
Citigroup Inc. COM 172967424 207,968 4,598 SH SOLE 4,598 0 0
Clean Harbors Inc. COM 184496107 2,405,421 21,078 SH SOLE 21,078 0 0
Coca-Cola Europacific Partners COM G25839104 347,631 6,284 SH SOLE 6,284 0 0
Commercial Metals Co. COM 201723103 263,718 5,460 SH SOLE 5,460 0 0
Consumer Staples Select Sector COM 81369Y308 428,961 5,754 SH SOLE 5,754 0 0
Corning Inc. COM 219350105 2,833,557 88,715 SH SOLE 88,715 0 0
Costco Wholesale Corp. COM 22160K105 8,534,724 18,696 SH SOLE 18,696 0 0
CVS Health Corp. COM 126650100 4,152,826 44,563 SH SOLE 44,563 0 0
D.R. Horton Inc. COM 23331A109 7,296,822 81,858 SH SOLE 81,858 0 0
Danaher Corporation COM 235851102 6,296,028 23,721 SH SOLE 23,721 0 0
Deere & Co. COM 244199105 3,423,220 7,984 SH SOLE 7,984 0 0
Diageo P L C Spon Adr New COM 25243Q205 2,406,278 13,504 SH SOLE 13,504 0 0
Diodes Inc. COM 254543101 314,306 4,128 SH SOLE 4,128 0 0
Direxion Daily S&P500 Bear 1X COM 25460E869 29,287,419 1,773,920 SH SOLE 1,773,920 0 0
Elevance Health Inc. COM 036752103 10,405,596 20,285 SH SOLE 20,285 0 0
Enbridge Inc. COM 29250N105 252,742 6,464 SH SOLE 6,464 0 0
Energy Select Sector SPDR Fund COM 81369Y506 524,383 5,995 SH SOLE 5,995 0 0
ENI S.p.A. ADS COM 26874R108 348,792 12,170 SH SOLE 12,170 0 0
EOG Resources Inc. COM 26875P101 7,057,415 54,489 SH SOLE 54,489 0 0
Equinor ASA Sponsored ADR COM 29446M102 5,655,939 157,943 SH SOLE 157,943 0 0
Evercore Inc. (Cl A) COM 29977A105 271,718 2,491 SH SOLE 2,491 0 0
Everest Re Group Ltd. COM G3223R108 765,896 2,312 SH SOLE 2,312 0 0
Expeditors International of Wa COM 302130109 3,559,780 34,255 SH SOLE 34,255 0 0
Exxon Mobil Corp. COM 30231G102 9,446,423 85,643 SH SOLE 85,643 0 0
FedEx Corp. COM 31428X106 352,462 2,035 SH SOLE 2,035 0 0
Fidelity MSCI Consumer Staples COM 316092303 3,456,554 77,138 SH SOLE 77,138 0 0
Fidelity MSCI Energy Index ETF COM 316092402 4,956,455 207,905 SH SOLE 207,905 0 0
Fidelity MSCI Financials Index COM 316092501 1,608,195 33,546 SH SOLE 33,546 0 0
Goldman Sachs Group Inc. COM 38141G104 684,700 1,994 SH SOLE 1,994 0 0
GSK plc Sponsored ADR COM 37733W204 234,032 6,660 SH SOLE 6,660 0 0
Health Care Select Sector SPDR COM 81369Y209 4,010,835 29,524 SH SOLE 29,524 0 0
Home Depot Inc. COM 437076102 3,361,066 10,641 SH SOLE 10,641 0 0
Hub Group Inc (Cl A) COM 443320106 3,043,672 38,290 SH SOLE 38,290 0 0
Humana Inc. COM 444859102 10,088,606 19,697 SH SOLE 19,697 0 0
Imperial Oil Limited COM 453038408 3,973,431 81,523 SH SOLE 81,523 0 0
Industrial Select Sector SPDR COM 81369Y704 791,376 8,058 SH SOLE 8,058 0 0
Intel Corp. COM 458140100 215,457 8,152 SH SOLE 8,152 0 0
Invesco CurrencyShares Euro Tr COM 46138K103 4,550,728 46,060 SH SOLE 46,060 0 0
Invesco CurrencyShares Japanes COM 46138W107 4,715,494 66,322 SH SOLE 66,322 0 0
Invesco NASDAQ 100 ETF COM 46138G649 226,399 2,067 SH SOLE 2,067 0 0
iShares 0-5 Year TIPS Bond ETF COM 46429B747 8,018,592 82,700 SH SOLE 82,700 0 0
iShares 1-3 Year Treasury Bond COM 464287457 9,675,058 119,195 SH SOLE 119,195 0 0
iShares 20 Year Treasury Bond COM 464287432 2,472,075 24,830 SH SOLE 24,830 0 0
iShares 7-10 Year Treasury Bon COM 464287440 1,354,521 14,142 SH SOLE 14,142 0 0
iShares Core MSCI EAFE ETF COM 46432F842 4,614,987 74,870 SH SOLE 74,870 0 0
iShares Core Total U.S. Bond M COM 464287226 3,440,623 35,474 SH SOLE 35,474 0 0
iShares DJ US Home Constructio COM 464288752 1,464,944 24,172 SH SOLE 24,172 0 0
iShares Edge MSCI USA Quality COM 46432F339 209,458 1,838 SH SOLE 1,838 0 0
iShares Floating Rate Bond ETF COM 46429B655 4,465,882 88,732 SH SOLE 88,732 0 0
iShares Gold Trust COM 464285204 9,314,879 269,294 SH SOLE 269,294 0 0
iShares International Treasury COM 464288117 10,085,549 257,613 SH SOLE 257,613 0 0
iShares JPMorgan USD Emerging COM 464288281 1,264,367 14,947 SH SOLE 14,947 0 0
iShares MBS ETF COM 464288588 6,627,637 71,457 SH SOLE 71,457 0 0
iShares MSCI Emerging Markets COM 46434G764 1,834,478 38,645 SH SOLE 38,645 0 0
iShares MSCI Global Metals & M COM 46434G848 992,856 24,216 SH SOLE 24,216 0 0
iShares S&P 500 Fund COM 464287200 5,533,392 14,402 SH SOLE 14,402 0 0
iShares S&P Small Cap 600 Inde COM 464287804 217,767 2,301 SH SOLE 2,301 0 0
iShares U.S. Healthcare Provid COM 464288828 3,216,831 12,017 SH SOLE 12,017 0 0
iShares U.S. Insurance ETF COM 464288786 2,205,208 24,127 SH SOLE 24,127 0 0
iShares US Transportation ETF COM 464287192 861,888 4,036 SH SOLE 4,036 0 0
Jabil Inc. COM 466313103 3,066,477 44,963 SH SOLE 44,963 0 0
Johnson & Johnson COM 478160104 8,246,729 46,684 SH SOLE 46,684 0 0
KB Home COM 48666K109 2,221,346 69,744 SH SOLE 69,744 0 0
Keurig Dr Pepper Inc. COM 49271V100 2,843,528 79,740 SH SOLE 79,740 0 0
KLA Corporation COM 482480100 7,380,362 19,575 SH SOLE 19,575 0 0
Kroger Co. COM 501044101 3,108,653 69,732 SH SOLE 69,732 0 0
Lam Research Corp. COM 512807108 12,324,877 29,324 SH SOLE 29,324 0 0
Lennar Corp. (Cl A) COM 526057104 4,950,441 54,701 SH SOLE 54,701 0 0
LKQ Corp. COM 501889208 5,502,886 103,031 SH SOLE 103,031 0 0
Louisiana-Pacific Corp. COM 546347105 4,531,050 76,538 SH SOLE 76,538 0 0
LPL Financial Holdings Inc. COM 50212V100 454,173 2,101 SH SOLE 2,101 0 0
M.D.C. Holdings Inc. COM 552676108 2,511,758 79,486 SH SOLE 79,486 0 0
Marathon Oil Corp. COM 565849106 5,278,352 194,989 SH SOLE 194,989 0 0
Marvell Technology Inc. COM 573874104 312,951 8,449 SH SOLE 8,449 0 0
Mastercard Inc. Cl A COM 57636Q104 6,910,438 19,873 SH SOLE 19,873 0 0
McKesson Corp. COM 58155Q103 2,438,280 6,500 SH SOLE 6,500 0 0
Merck & Co. Inc. COM 58933Y105 10,819,289 97,515 SH SOLE 97,515 0 0
Meritage Homes Corp. COM 59001A102 3,771,441 40,905 SH SOLE 40,905 0 0
Mgp Ingredients Inc. COM 55303J106 2,054,942 19,317 SH SOLE 19,317 0 0
Microsoft Corp. COM 594918104 15,082,759 62,892 SH SOLE 62,892 0 0
Mizuho Financial Group Inc. AD COM 60687Y109 288,013 101,413 SH SOLE 101,413 0 0
MKS Instruments Inc. COM 55306N104 3,050,111 35,998 SH SOLE 35,998 0 0
Molson Coors Brewing Co. Cl B COM 60871R209 2,245,293 43,581 SH SOLE 43,581 0 0
Morgan Stanley COM 617446448 660,095 7,764 SH SOLE 7,764 0 0
Mosaic Co. COM 61945C103 395,093 9,006 SH SOLE 9,006 0 0
MSC Industrial Direct Co. Cl A COM 553530106 1,551,320 18,988 SH SOLE 18,988 0 0
Novartis AG ADS COM 66987V109 462,672 5,100 SH SOLE 5,100 0 0
Nutrien Ltd. COM 67077M108 381,801 5,228 SH SOLE 5,228 0 0
Old Republic International Cor COM 680223104 353,580 14,641 SH SOLE 14,641 0 0
Paccar Inc. COM 693718108 2,490,679 25,166 SH SOLE 25,166 0 0
Penske Automotive Grp Inc Com COM 70959W103 4,581,110 39,860 SH SOLE 39,860 0 0
PepsiCo Inc. COM 713448108 3,452,955 19,113 SH SOLE 19,113 0 0
Petroleo Brasileiro SA Sponsor COM 71654V408 263,683 24,759 SH SOLE 24,759 0 0
Pfizer Inc. COM 717081103 448,914 8,761 SH SOLE 8,761 0 0
ProShares Short Russell2000 COM 74348A210 15,591,037 633,782 SH SOLE 633,782 0 0
PulteGroup Inc. COM 745867101 5,688,108 124,931 SH SOLE 124,931 0 0
Raymond James Financial Inc COM 754730109 256,761 2,403 SH SOLE 2,403 0 0
Regeneron Pharmaceuticals Inc. COM 75886F107 3,935,728 5,455 SH SOLE 5,455 0 0
Reinsurance Group of America I COM 759351604 4,200,465 29,562 SH SOLE 29,562 0 0
Republic Services Inc. COM 760759100 4,814,939 37,328 SH SOLE 37,328 0 0
Rio Tinto PLC ADS COM 767204100 7,594,406 106,663 SH SOLE 106,663 0 0
Schwab Fundamental Internation COM 808524755 250,118 8,604 SH SOLE 8,604 0 0
Shell PLC Sponsored ADR COM 780259305 7,007,413 123,045 SH SOLE 123,045 0 0
Skyworks Solutions Inc COM 83088M102 270,565 2,969 SH SOLE 2,969 0 0
SolarEdge Technologies, Inc. COM 83417M104 7,037,560 24,844 SH SOLE 24,844 0 0
Southern Copper Corp. COM 84265V105 6,220,110 102,999 SH SOLE 102,999 0 0
SPDR Barclays International Co COM 78464A151 4,880,217 176,054 SH SOLE 176,054 0 0
SPDR Barclays Short Term High COM 78468R408 5,486,821 226,354 SH SOLE 226,354 0 0
SPDR Bloomberg Barclays Intern COM 78464A516 18,273,362 814,684 SH SOLE 814,684 0 0
SPDR Gold Trust COM 78463V107 7,812,770 46,055 SH SOLE 46,055 0 0
SPDR S&P Homebuilders ETF COM 78464A888 643,916 10,675 SH SOLE 10,675 0 0
SPDR S&P Metals & Mining ETF COM 78464A755 734,747 14,751 SH SOLE 14,751 0 0
SPDR S&P Retail ETF COM 78464A714 807,552 13,359 SH SOLE 13,359 0 0
SPDR S&P Semiconductor ETF COM 78464A862 896,520 5,361 SH SOLE 5,361 0 0
Star Bulk Carriers Corp. COM Y8162K204 211,645 11,006 SH SOLE 11,006 0 0
Steel Dynamics Inc. COM 858119100 3,886,115 39,776 SH SOLE 39,776 0 0
Stifel Financial Corp. COM 860630102 356,582 6,109 SH SOLE 6,109 0 0
Suncor Energy Inc. COM 867224107 4,103,863 129,337 SH SOLE 129,337 0 0
Takeda Pharmaceutical Co. Ltd. COM 874060205 292,313 18,738 SH SOLE 18,738 0 0
Target Corp. COM 87612E106 13,332,820 89,458 SH SOLE 89,458 0 0
Taylor Morrison Home Corp. Cla COM 87724P106 2,771,592 91,321 SH SOLE 91,321 0 0
Technology Select Sector SPDR COM 81369Y803 7,503,359 60,297 SH SOLE 60,297 0 0
Teck Resources Limited Class B COM 878742204 4,522,327 119,575 SH SOLE 119,575 0 0
Terex Corp. COM 880779103 2,049,962 47,986 SH SOLE 47,986 0 0
Ternium S.A. Sponsored ADR COM 880890108 266,392 8,717 SH SOLE 8,717 0 0
Thermo Fisher Scientific Inc COM 883556102 5,941,945 10,790 SH SOLE 10,790 0 0
Toll Brothers Inc. COM 889478103 4,182,996 83,794 SH SOLE 83,794 0 0
Travelers Companies, Inc. COM 89417E109 7,911,516 42,197 SH SOLE 42,197 0 0
TRI Pointe Group Inc COM 87265H109 339,955 18,287 SH SOLE 18,287 0 0
Triton International Ltd. Clas COM G9078F107 3,001,766 43,643 SH SOLE 43,643 0 0
United Parcel Service Inc. Cl COM 911312106 4,455,172 25,628 SH SOLE 25,628 0 0
United Rentals Inc. COM 911363109 6,214,163 17,484 SH SOLE 17,484 0 0
United States Steel Corp. COM 912909108 3,474,185 138,690 SH SOLE 138,690 0 0
UnitedHealth Group Inc. COM 91324P102 14,179,664 26,745 SH SOLE 26,745 0 0
Univar Solutions, Inc. COM 91336L107 286,136 8,998 SH SOLE 8,998 0 0
VanEck Vectors J.P. Morgan EM COM 92189H300 11,920,021 491,953 SH SOLE 491,953 0 0
Vanguard Mortgage-Backed Secur COM 92206C771 8,082,895 177,568 SH SOLE 177,568 0 0
Vanguard Russell 1000 Value ET COM 92206C714 3,417,219 51,325 SH SOLE 51,325 0 0
Vanguard Short-Term Corporate COM 92206C409 1,909,074 25,390 SH SOLE 25,390 0 0
Vanguard Short-Term Inflation- COM 922020805 5,174,581 110,781 SH SOLE 110,781 0 0
Vanguard Short-Term Treasury E COM 92206C102 698,292 12,077 SH SOLE 12,077 0 0
Visa Inc. COM 92826C839 5,488,604 26,418 SH SOLE 26,418 0 0
Vodafone Group PLC ADS COM 92857W308 270,771 26,756 SH SOLE 26,756 0 0
W.R. Berkley Corp. COM 084423102 3,215,214 44,305 SH SOLE 44,305 0 0
Walmart Inc. COM 931142103 5,115,358 36,077 SH SOLE 36,077 0 0
Waste Management Inc. COM 94106L109 4,854,024 30,941 SH SOLE 30,941 0 0
Wesco International Inc. COM 95082P105 3,731,586 29,805 SH SOLE 29,805 0 0
West Fraser Timber Co. Ltd. COM 952845105 3,174,471 43,913 SH SOLE 43,913 0 0
Williams-Sonoma Inc. COM 969904101 2,571,450 22,376 SH SOLE 22,376 0 0
Woodside Energy Group Ltd COM 980228308 724,751 29,936 SH SOLE 29,936 0 0