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
Aberdeen Standard Bloomberg Al COM 003261104 760,369 36,609 SH SOLE 36,609 0 0
ACI Worldwide Inc COM 004498101 327,063 7,124 SH SOLE 7,124 0 0
ADT, Inc. COM 00090Q103 3,094,235 365,317 SH SOLE 365,317 0 0
Adtalem Global Education Inc. COM 00737L103 6,169,128 48,488 SH SOLE 48,488 0 0
Agnico-Eagle Mines Ltd. COM 008474108 5,566,519 46,805 SH SOLE 46,805 0 0
Akamai Technologies Inc. COM 00971T101 3,491,654 43,777 SH SOLE 43,777 0 0
Allstate Corp. COM 020002101 3,842,807 19,089 SH SOLE 19,089 0 0
Alphabet Inc. Cl A COM 02079K305 11,894,291 67,493 SH SOLE 67,493 0 0
Arch Capital Group Ltd. COM G0450A105 3,201,682 35,164 SH SOLE 35,164 0 0
Asbury Automotive Group Inc. COM 043436104 2,718,163 11,395 SH SOLE 11,395 0 0
Assurant Inc. COM 04621X108 3,313,882 16,780 SH SOLE 16,780 0 0
AT&T Inc. COM 00206R102 6,813,981 235,452 SH SOLE 235,452 0 0
Autoliv Inc. COM 052800109 333,014 2,976 SH SOLE 2,976 0 0
Axis Capital Holdings Ltd COM G0692U109 478,506 4,609 SH SOLE 4,609 0 0
Banco Santander S.A. ADR COM 05964H105 571,870 68,900 SH SOLE 68,900 0 0
Bank of America Corp. COM 060505104 7,394,602 156,268 SH SOLE 156,268 0 0
Barclays PLC ADR COM 06738E204 5,897,547 317,243 SH SOLE 317,243 0 0
Benchmark Electronics Inc. COM 08160H101 1,751,117 45,097 SH SOLE 45,097 0 0
Canadian Imperial Bank of Comm COM 136069101 5,905,522 83,376 SH SOLE 83,376 0 0
Cardinal Health Inc. COM 14149Y108 10,254,048 61,036 SH SOLE 61,036 0 0
CarGurus, Inc. Class A COM 141788109 4,402,945 131,549 SH SOLE 131,549 0 0
Carnival Corp. COM 143658300 3,130,515 111,327 SH SOLE 111,327 0 0
Cencora Inc. COM 03073E105 8,952,921 29,858 SH SOLE 29,858 0 0
Cenovus Energy Inc. COM 15135U109 243,984 17,940 SH SOLE 17,940 0 0
Charter Communications Inc. Cl COM 16119P108 2,927,897 7,162 SH SOLE 7,162 0 0
Check Point Software Technolog COM M22465104 7,099,470 32,088 SH SOLE 32,088 0 0
Chevron Corp. COM 166764100 366,423 2,559 SH SOLE 2,559 0 0
Chubb Limited COM H1467J104 237,281 819 SH SOLE 819 0 0
Cigna Corporation COM 125523100 2,923,319 8,843 SH SOLE 8,843 0 0
Cisco Systems Inc. COM 17275R102 8,572,732 123,562 SH SOLE 123,562 0 0
Citigroup Inc. COM 172967424 6,822,198 80,148 SH SOLE 80,148 0 0
Clear Secure, Inc. Class A COM 18467V109 408,155 14,703 SH SOLE 14,703 0 0
Comcast Corp. (Cl A) COM 20030N101 3,791,170 106,225 SH SOLE 106,225 0 0
Comerica Inc. COM 200340107 261,565 4,385 SH SOLE 4,385 0 0
Communication Services Select COM 81369Y852 9,025,572 83,162 SH SOLE 83,162 0 0
Concentrix Corporation COM 20602D101 3,044,659 57,604 SH SOLE 57,604 0 0
Copa Holdings S.A. Cl A COM P31076105 332,439 3,023 SH SOLE 3,023 0 0
CSG Systems International Inc. COM 126349109 2,847,059 43,593 SH SOLE 43,593 0 0
CTS Corp COM 126501105 1,721,614 40,404 SH SOLE 40,404 0 0
CVS Health Corp. COM 126650100 2,837,837 41,140 SH SOLE 41,140 0 0
D.R. Horton Inc. COM 23331A109 7,598,287 58,938 SH SOLE 58,938 0 0
Delta Air Lines Inc. COM 247361702 441,095 8,969 SH SOLE 8,969 0 0
Deutsche Bank AG COM D18190898 7,384,884 252,216 SH SOLE 252,216 0 0
Digi International Inc. COM 253798102 1,701,098 48,798 SH SOLE 48,798 0 0
DigitalOcean Holdings, Inc. COM 25402D102 2,098,503 73,477 SH SOLE 73,477 0 0
Dillard's Inc. Cl A COM 254067101 283,707 679 SH SOLE 679 0 0
Direxion Daily S&P500 Bear 1X COM 25460E869 17,835,161 1,731,569 SH SOLE 1,731,569 0 0
DocuSign, Inc. COM 256163106 404,093 5,188 SH SOLE 5,188 0 0
Dropbox, Inc. Class A COM 26210C104 443,672 15,513 SH SOLE 15,513 0 0
Dycom Industries Inc COM 267475101 3,761,895 15,393 SH SOLE 15,393 0 0
eBay Inc. COM 278642103 548,845 7,371 SH SOLE 7,371 0 0
Ecopetrol SA Sponsored ADR COM 279158109 230,728 26,071 SH SOLE 26,071 0 0
Eldorado Gold Corp. COM 284902509 3,482,493 171,214 SH SOLE 171,214 0 0
Encompass Health Corporation COM 29261A100 3,680,862 30,016 SH SOLE 30,016 0 0
Equinor ASA Sponsored ADR COM 29446M102 244,461 9,724 SH SOLE 9,724 0 0
Equinox Gold Corp. COM 29446Y502 2,906,729 505,518 SH SOLE 505,518 0 0
Everest Group Ltd. COM G3223R108 639,938 1,883 SH SOLE 1,883 0 0
Expedia Group, Inc. COM 30212P303 2,738,182 16,233 SH SOLE 16,233 0 0
F5 Networks Inc. COM 315616102 5,419,314 18,413 SH SOLE 18,413 0 0
Financial Select Sector SPDR F COM 81369Y605 10,287,877 196,446 SH SOLE 196,446 0 0
Flex Ltd. COM Y2573F102 9,879,967 197,916 SH SOLE 197,916 0 0
Fortinet Inc. COM 34959E109 6,526,730 61,736 SH SOLE 61,736 0 0
Frontdoor, Inc. COM 35905A109 3,862,397 65,531 SH SOLE 65,531 0 0
General Motors Co. COM 37045V100 415,136 8,436 SH SOLE 8,436 0 0
GoDaddy, Inc. Class A COM 380237107 3,943,134 21,899 SH SOLE 21,899 0 0
Goldman Sachs Group Inc. COM 38141G104 12,304,234 17,385 SH SOLE 17,385 0 0
Graham Holdings Co. COM 384637104 509,986 539 SH SOLE 539 0 0
Grupo Aeroportuario del Surest COM 40051E202 356,178 1,117 SH SOLE 1,117 0 0
H&R Block, Inc. COM 093671105 368,751 6,718 SH SOLE 6,718 0 0
Hartford Insurance Group Inc. COM 416515104 4,441,719 35,010 SH SOLE 35,010 0 0
HCA Healthcare Inc COM 40412C101 5,978,659 15,606 SH SOLE 15,606 0 0
Health Care Select Sector SPDR COM 81369Y209 2,907,286 21,569 SH SOLE 21,569 0 0
Hyatt Hotels Corp. COM 448579102 2,528,782 18,108 SH SOLE 18,108 0 0
Iamgold Corporation COM 450913108 6,017,717 818,737 SH SOLE 818,737 0 0
Industrial Select Sector SPDR COM 81369Y704 997,235 6,760 SH SOLE 6,760 0 0
Interactive Brokers Group Inc. COM 45841N107 393,411 7,100 SH SOLE 7,100 0 0
InterDigital Inc. COM 45867G101 464,380 2,071 SH SOLE 2,071 0 0
Invesco CurrencyShares Euro Tr COM 46138K103 4,866,721 44,735 SH SOLE 44,735 0 0
Invesco CurrencyShares Japanes COM 46138W107 8,603,191 134,551 SH SOLE 134,551 0 0
Invesco KBW Bank ETF COM 46138E628 659,620 9,210 SH SOLE 9,210 0 0
Invesco Leisure and Entertainm COM 46137V720 446,437 7,846 SH SOLE 7,846 0 0
Invesco S&P 500 Equal Weight C COM 46137V381 1,266,664 23,805 SH SOLE 23,805 0 0
iShares 1-3 Year Treasury Bond COM 464287457 13,735,868 165,772 SH SOLE 165,772 0 0
iShares 5-10yr Investment Grad COM 464288638 7,624,573 143,077 SH SOLE 143,077 0 0
iShares 7-10 Year Treasury Bon COM 464287440 7,682,861 80,222 SH SOLE 80,222 0 0
iShares Aaa-A Rated Corporate COM 46429B291 807,635 16,882 SH SOLE 16,882 0 0
iShares Core MSCI EAFE ETF COM 46432F842 6,591,330 78,957 SH SOLE 78,957 0 0
iShares Core Total U.S. Bond M COM 464287226 4,741,264 47,795 SH SOLE 47,795 0 0
iShares Edge MSCI Min Vol USA COM 46429B697 411,338 4,382 SH SOLE 4,382 0 0
iShares Edge MSCI USA Quality COM 46432F339 221,029 1,209 SH SOLE 1,209 0 0
iShares Expanded Tech-Software COM 464287515 2,280,447 20,826 SH SOLE 20,826 0 0
iShares iBoxx $ Investment Gra COM 464287242 445,345 4,063 SH SOLE 4,063 0 0
iShares International Treasury COM 464288117 12,467,494 289,269 SH SOLE 289,269 0 0
iShares MBS ETF COM 464288588 6,274,856 66,832 SH SOLE 66,832 0 0
iShares MSCI ACWI ETF COM 464288257 220,678 1,716 SH SOLE 1,716 0 0
iShares MSCI Emerging Markets COM 46434G764 2,086,777 33,050 SH SOLE 33,050 0 0
iShares S&P 500 Fund COM 464287200 9,101,152 14,658 SH SOLE 14,658 0 0
iShares S&P Small Cap 600 Inde COM 464287804 345,356 3,160 SH SOLE 3,160 0 0
iShares U.S. Healthcare Provid COM 464288828 1,404,039 28,860 SH SOLE 28,860 0 0
iShares U.S. Insurance ETF COM 464288786 982,634 7,308 SH SOLE 7,308 0 0
iShares U.S. Telecommunication COM 464287713 1,251,177 42,014 SH SOLE 42,014 0 0
Jabil Inc. COM 466313103 13,064,190 59,900 SH SOLE 59,900 0 0
Janus Detroit Street Trust Jan COM 47103U845 635,187 12,516 SH SOLE 12,516 0 0
JPMorgan Chase & Co. COM 46625H100 8,953,001 30,882 SH SOLE 30,882 0 0
Kemper Corporation COM 488401100 2,119,494 32,840 SH SOLE 32,840 0 0
Kinross Gold Corporation COM 496902404 9,446,709 604,396 SH SOLE 604,396 0 0
Laureate Education Inc COM 518613203 4,970,401 212,592 SH SOLE 212,592 0 0
Lear Corp. COM 521865204 256,541 2,701 SH SOLE 2,701 0 0
Leuthold Select Industries ET COM 56167R705 862,635 23,464 SH SOLE 23,464 0 0
Life Time Group Holdings, Inc. COM 53190C102 2,998,272 98,855 SH SOLE 98,855 0 0
Lithia Motors Inc. COM 536797103 2,790,393 8,260 SH SOLE 8,260 0 0
Loews Corp. COM 540424108 366,457 3,998 SH SOLE 3,998 0 0
M&T Bank Corp. COM 55261F104 286,717 1,478 SH SOLE 1,478 0 0
Magna International Inc. COM 559222401 387,722 10,042 SH SOLE 10,042 0 0
Markel Group Inc. COM 570535104 3,615,222 1,810 SH SOLE 1,810 0 0
Mastercard Inc. Cl A COM 57636Q104 8,486,418 15,102 SH SOLE 15,102 0 0
Matson, Inc. COM 57686G105 200,207 1,798 SH SOLE 1,798 0 0
Maximus Inc. COM 577933104 2,709,369 38,595 SH SOLE 38,595 0 0
McKesson Corp. COM 58155Q103 11,323,649 15,453 SH SOLE 15,453 0 0
MDU Resources Group, Inc. COM 552690109 3,378,159 202,649 SH SOLE 202,649 0 0
Meta Platforms Inc. Class A COM 30303M102 21,814,988 29,556 SH SOLE 29,556 0 0
Microsoft Corp. COM 594918104 25,004,303 50,269 SH SOLE 50,269 0 0
Millrose Properties Inc COM 601137102 501,234 17,581 SH SOLE 17,581 0 0
Mizuho Financial Group Inc. AD COM 60687Y109 456,131 82,038 SH SOLE 82,038 0 0
Morgan Stanley COM 617446448 9,528,616 67,646 SH SOLE 67,646 0 0
Netflix Inc. COM 64110L106 19,338,376 14,441 SH SOLE 14,441 0 0
New Jersey Resources Corp. COM 646025106 3,121,041 69,635 SH SOLE 69,635 0 0
Nokia Corp. (ADR) COM 654902204 5,431,815 1,048,613 SH SOLE 1,048,613 0 0
Norwegian Cruise Line Holdings COM G66721104 2,170,386 107,021 SH SOLE 107,021 0 0
Okta, Inc. Class A COM 679295105 3,168,749 31,697 SH SOLE 31,697 0 0
Old National Bancorp COM 680033107 264,957 12,416 SH SOLE 12,416 0 0
Old Republic International Cor COM 680223104 453,630 11,801 SH SOLE 11,801 0 0
ONE Gas Inc. COM 68235P108 3,053,978 42,499 SH SOLE 42,499 0 0
Opera Limited Sponsored ADR COM 68373M107 261,104 13,815 SH SOLE 13,815 0 0
Oracle Corp. COM 68389X105 14,733,038 67,388 SH SOLE 67,388 0 0
Pan American Silver Corp. COM 697900108 3,509,445 123,572 SH SOLE 123,572 0 0
PayPal Holdings, Inc. COM 70450Y103 3,402,816 45,786 SH SOLE 45,786 0 0
Perdoceo Education Corporation COM 71363P106 545,596 16,690 SH SOLE 16,690 0 0
Plexus Corp. COM 729132100 3,393,710 25,081 SH SOLE 25,081 0 0
PNC Financial Services Group I COM 693475105 4,313,759 23,140 SH SOLE 23,140 0 0
Primoris Services Corporation COM 74164F103 263,048 3,375 SH SOLE 3,375 0 0
ProShares Short QQQ COM 74349Y837 4,118,941 122,369 SH SOLE 122,369 0 0
ProShares Short Russell2000 COM 74348A210 11,199,274 595,073 SH SOLE 595,073 0 0
PulteGroup Inc. COM 745867101 9,414,203 89,268 SH SOLE 89,268 0 0
Qualys, Inc. COM 74758T303 3,344,587 23,410 SH SOLE 23,410 0 0
Raymond James Financial Inc COM 754730109 4,082,096 26,616 SH SOLE 26,616 0 0
Royal Caribbean Cruises Ltd COM V7780T103 3,374,084 10,775 SH SOLE 10,775 0 0
Salesforce.com Inc. COM 79466L302 549,743 2,016 SH SOLE 2,016 0 0
Sanmina Corporation COM 801056102 3,542,229 36,208 SH SOLE 36,208 0 0
SAP SE Sponsored ADR COM 803054204 379,517 1,248 SH SOLE 1,248 0 0
Schwab Fundamental Internation COM 808524755 208,744 5,216 SH SOLE 5,216 0 0
Schwab US Dividend Equity ETF COM 808524797 233,916 8,827 SH SOLE 8,827 0 0
Simplify MBS ETF COM 82889N525 5,008,299 99,986 SH SOLE 99,986 0 0
SK Telecom Co. Ltd. ADS COM 78440P306 369,560 15,827 SH SOLE 15,827 0 0
SPDR Barclays International Co COM 78464A151 8,362,333 256,592 SH SOLE 256,592 0 0
SPDR Bloomberg Barclays Intern COM 78464A516 19,711,516 839,145 SH SOLE 839,145 0 0
SPDR Intermediate Term Corpora COM 78464A375 13,046,804 388,529 SH SOLE 388,529 0 0
SPDR S&P Capital Markets ETF COM 78464A771 637,982 4,402 SH SOLE 4,402 0 0
Spire Inc. COM 84857L101 3,028,355 41,490 SH SOLE 41,490 0 0
SS&C Technologies Holdings, In COM 78467J100 3,975,394 48,012 SH SOLE 48,012 0 0
Strategic Education, Inc. COM 86272C103 3,507,015 41,196 SH SOLE 41,196 0 0
Stride, Inc. COM 86333M108 5,371,014 36,993 SH SOLE 36,993 0 0
Suncor Energy Inc. COM 867224107 361,505 9,653 SH SOLE 9,653 0 0
Synopsys Inc COM 871607107 451,158 880 SH SOLE 880 0 0
T-Mobile US Inc COM 872590104 9,409,126 39,491 SH SOLE 39,491 0 0
TE Connectivity Ltd. COM G87052109 6,546,420 38,812 SH SOLE 38,812 0 0
Technology Select Sector SPDR COM 81369Y803 9,848,874 38,893 SH SOLE 38,893 0 0
Telefonaktiebolaget LM Ericsso COM 294821608 5,110,709 602,678 SH SOLE 602,678 0 0
Tenet Healthcare Corporation COM 88033G407 5,078,832 28,857 SH SOLE 28,857 0 0
The Hanover Insurance Group In COM 410867105 2,335,882 13,751 SH SOLE 13,751 0 0
TIM S.A. Sponsored ADR COM 88706T108 420,359 20,903 SH SOLE 20,903 0 0
Toll Brothers Inc. COM 889478103 6,178,884 54,139 SH SOLE 54,139 0 0
TotalEnergies SE Sponsored ADR COM 89151E109 367,235 5,982 SH SOLE 5,982 0 0
Travel Leisure Co. COM 894164102 2,730,840 52,913 SH SOLE 52,913 0 0
Travelers Companies, Inc. COM 89417E109 4,255,759 15,907 SH SOLE 15,907 0 0
Twilio, Inc COM 90138F102 4,556,302 36,638 SH SOLE 36,638 0 0
U.S. Bancorp COM 902973304 4,133,452 91,347 SH SOLE 91,347 0 0
U.S. Global Jets ETF COM 26922A842 1,227,999 53,461 SH SOLE 53,461 0 0
Uber Technologies, Inc. COM 90353T100 5,722,556 61,335 SH SOLE 61,335 0 0
UBS Group AG (new) COM H42097107 416,764 12,323 SH SOLE 12,323 0 0
UGI Corp. COM 902681105 3,831,930 105,215 SH SOLE 105,215 0 0
United Parks & Resorts, Inc. COM 81282V100 2,550,013 54,083 SH SOLE 54,083 0 0
United Rentals Inc. COM 911363109 9,706,052 12,883 SH SOLE 12,883 0 0
Universal Health Services Inc. COM 913903100 3,273,199 18,069 SH SOLE 18,069 0 0
Universal Technical Institute COM 913915104 4,626,697 136,521 SH SOLE 136,521 0 0
Utilities Select Sector SPDR F COM 81369Y886 2,247,773 27,526 SH SOLE 27,526 0 0
Valmont Industries Inc. COM 920253101 219,782 673 SH SOLE 673 0 0
VanEck Gold Miners ETF COM 92189F106 2,262,528 43,460 SH SOLE 43,460 0 0
Vanguard Russell 1000 Value ET COM 92206C714 4,332,588 50,846 SH SOLE 50,846 0 0
Vanguard Short-Term Corporate COM 92206C409 1,471,784 18,513 SH SOLE 18,513 0 0
Vanguard Short-Term Inflation- COM 922020805 10,727,015 213,388 SH SOLE 213,388 0 0
Vanguard Short-Term Treasury E COM 92206C102 1,045,461 17,786 SH SOLE 17,786 0 0
VeriSign Inc. COM 92343E102 5,699,179 19,734 SH SOLE 19,734 0 0
Verizon Communications Inc. COM 92343V104 2,835,180 65,523 SH SOLE 65,523 0 0
Virtu Financial, Inc. Class A COM 928254101 3,352,084 74,840 SH SOLE 74,840 0 0
Visa Inc. COM 92826C839 7,124,433 20,066 SH SOLE 20,066 0 0
Vodafone Group PLC ADS COM 92857W308 498,558 46,769 SH SOLE 46,769 0 0
Walt Disney Co. COM 254687106 6,439,963 51,931 SH SOLE 51,931 0 0
Wells Fargo & Co. COM 949746101 347,240 4,334 SH SOLE 4,334 0 0
White Mountains Insurance Grou COM G9618E107 2,092,014 1,165 SH SOLE 1,165 0 0
WisdomTree Yield Enhanced U.S. COM 97717X511 476,963 10,932 SH SOLE 10,932 0 0
Wix.com Ltd. COM M98068105 1,893,755 11,951 SH SOLE 11,951 0 0
WNS (Holdings) Limited Sponsor COM G98196101 2,633,567 41,644 SH SOLE 41,644 0 0
YPF SA Sponsored ADR Class D COM 984245100 228,516 7,266 SH SOLE 7,266 0 0
ZIM Integrated Shipping Servic COM M9T951109 205,421 12,767 SH SOLE 12,767 0 0
Zoom Communications, Inc. Clas COM 98980L101 415,477 5,328 SH SOLE 5,328 0 0