# EDGAR Filing Document

**Accession Number:** 0001740140
**File Stem:** 0001740140-26-000001
**Filing Date:** 2026-2
**Character Count:** 21696
**Document Hash:** d23fdc9baf3c15ce1d5cea40ae2daa4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001740140-26-000001.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001740140-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VISTA INVESTMENT MANAGEMENT
- **CENTRAL INDEX KEY:** 0001740140

**ORGANIZATION NAME:**
- **EIN:** 134210084

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18763
- **FILM NUMBER:** 26640450

**BUSINESS ADDRESS:**
- **STREET 1:** 400 PENN CENTER BLVD, STE 555
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15235
- **BUSINESS PHONE:** 800-301-3204

**MAIL ADDRESS:**
- **STREET 1:** 400 PENN CENTER BLVD, STE 555
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15235

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** VISTA INVESTMENT MANAGEMENT<br>**Address:** 400 PENN CENTER BLVD STE 555<br>PITTSBURGH, PA 15235

**Form 13F File Number:** 028-18763

**CRD Number (if applicable):** 000116068

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Matthew J. Viverette<br>**Title:** Manager<br>**Phone:** 412-253-2427

**Signature, Place, and Date of Signing:**

Matt Viverette  Pittsburgh, PA  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 179

**Form 13F Information Table Value Total:** $303045813

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | COM | 00287Y109 |  | 278072 | 1217 | SH |  | SOLE |  | 1217 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 849341 | 6779 | SH |  | SOLE |  | 6779 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 355956 | 1441 | SH |  | SOLE |  | 1441 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3591677 | 11475 | SH |  | SOLE |  | 11475 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 970059 | 3091 | SH |  | SOLE |  | 3091 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 1044691 | 4526 | SH |  | SOLE |  | 4526 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 371060 | 1003 | SH |  | SOLE |  | 1003 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 1130459 | 3454 | SH |  | SOLE |  | 3454 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 244080 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 2681340 | 9863 | SH |  | SOLE |  | 9863 | 0 | 0 |
| ARBOR REALTY TRUST INC | COM | 038923108 |  | 600604 | 77397 | SH |  | SOLE |  | 77397 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 223096 | 11028 | SH |  | SOLE |  | 11028 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 1950291 | 21215 | SH |  | SOLE |  | 21215 | 0 | 0 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 411104 | 11646 | SH |  | SOLE |  | 11646 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 844452 | 1680 | SH |  | SOLE |  | 1680 | 0 | 0 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 |  | 1692149 | 22858 | SH |  | SOLE |  | 22858 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 1027071 | 28333 | SH |  | SOLE |  | 28333 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 326021 | 1043 | SH |  | SOLE |  | 1043 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 4411437 | 18202 | SH |  | SOLE |  | 18202 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 204515 | 357 | SH |  | SOLE |  | 357 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 985762 | 6468 | SH |  | SOLE |  | 6468 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 1815218 | 23565 | SH |  | SOLE |  | 23565 | 0 | 0 |
| CIVISTA BANCSHARES INC | COM NO PAR | 178867107 |  | 404026 | 18183 | SH |  | SOLE |  | 18183 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 5483944 | 29712 | SH |  | SOLE |  | 29712 | 0 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 611322 | 21872 | SH |  | SOLE |  | 21872 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 726448 | 7760 | SH |  | SOLE |  | 7760 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 1570210 | 11382 | SH |  | SOLE |  | 11382 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 775256 | 8854 | SH |  | SOLE |  | 8854 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 433918 | 7406 | SH |  | SOLE |  | 7406 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 1247187 | 11877 | SH |  | SOLE |  | 11877 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 1917154 | 5469 | SH |  | SOLE |  | 5469 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 378287 | 352 | SH |  | SOLE |  | 352 | 0 | 0 |
| F N B CORP | COM | 302520101 |  | 320911 | 18767 | SH |  | SOLE |  | 18767 | 0 | 0 |
| FTI CONSULTING INC | COM | 302941109 |  | 469099 | 2746 | SH |  | SOLE |  | 2746 | 0 | 0 |
| FIDELITY COVINGTON TRUST | MSCI COMMNTN SVC | 316092873 |  | 1369676 | 18691 | SH |  | SOLE |  | 18691 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 649181 | 9768 | SH |  | SOLE |  | 9768 | 0 | 0 |
| FIRST BUSINESS FINL SVCS INC | COM | 319390100 |  | 2863622 | 52737 | SH |  | SOLE |  | 52737 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 429394 | 1394 | SH |  | SOLE |  | 1394 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 226789 | 347 | SH |  | SOLE |  | 347 | 0 | 0 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 373797 | 8364 | SH |  | SOLE |  | 8364 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 460066 | 5944 | SH |  | SOLE |  | 5944 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1324653 | 1507 | SH |  | SOLE |  | 1507 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 394659 | 2864 | SH |  | SOLE |  | 2864 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 800603 | 3905 | SH |  | SOLE |  | 3905 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 207587 | 1230 | SH |  | SOLE |  | 1230 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 223609 | 2322 | SH |  | SOLE |  | 2322 | 0 | 0 |
| INGREDION INC | COM | 457187102 |  | 1284721 | 11652 | SH |  | SOLE |  | 11652 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL DIS | 46137V381 |  | 1861964 | 32649 | SH |  | SOLE |  | 32649 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL ENR | 46137V365 |  | 427371 | 5370 | SH |  | SOLE |  | 5370 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 |  | 5386064 | 118349 | SH |  | SOLE |  | 118349 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL STP | 46137V373 |  | 258823 | 8917 | SH |  | SOLE |  | 8917 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 6463596 | 20060 | SH |  | SOLE |  | 20060 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 290972 | 1406 | SH |  | SOLE |  | 1406 | 0 | 0 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 1189758 | 3536 | SH |  | SOLE |  | 3536 | 0 | 0 |
| KB HOME | COM | 48666K109 |  | 288650 | 5117 | SH |  | SOLE |  | 5117 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 278542 | 949 | SH |  | SOLE |  | 949 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 914862 | 3647 | SH |  | SOLE |  | 3647 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 2476353 | 38045 | SH |  | SOLE |  | 38045 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 2822974 | 11706 | SH |  | SOLE |  | 11706 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 518464 | 3188 | SH |  | SOLE |  | 3188 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 403576 | 3834 | SH |  | SOLE |  | 3834 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 527412 | 799 | SH |  | SOLE |  | 799 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 1337300 | 20987 | SH |  | SOLE |  | 20987 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 1812259 | 3747 | SH |  | SOLE |  | 3747 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 539120 | 5750 | SH |  | SOLE |  | 5750 | 0 | 0 |
| NORTHWEST BANCSHARES INC MD | COM | 667340103 |  | 123900 | 10325 | SH |  | SOLE |  | 10325 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 903934 | 17766 | SH |  | SOLE |  | 17766 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 61056 | 1200 | SH | Call | SOLE |  | 1200 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 71232 | 1400 | SH | Call | SOLE |  | 1400 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 310847 | 1595 | SH |  | SOLE |  | 1595 | 0 | 0 |
| ORRSTOWN FINL SVCS INC | COM | 687380105 |  | 293632 | 8290 | SH |  | SOLE |  | 8290 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 3230097 | 15475 | SH |  | SOLE |  | 15475 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 1655435 | 11535 | SH |  | SOLE |  | 11535 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 499149 | 3483 | SH |  | SOLE |  | 3483 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 2485331 | 13551 | SH |  | SOLE |  | 13551 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 1139556 | 4731 | SH |  | SOLE |  | 4731 | 0 | 0 |
| RUSH ENTERPRISES INC | CL B | 781846308 |  | 3201078 | 56898 | SH |  | SOLE |  | 56898 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 299127 | 2541 | SH |  | SOLE |  | 2541 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y407 |  | 922562 | 7726 | SH |  | SOLE |  | 7726 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 381109 | 6958 | SH |  | SOLE |  | 6958 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 227482 | 574 | SH |  | SOLE |  | 574 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET MAT | 81369Y100 |  | 840457 | 18533 | SH |  | SOLE |  | 18533 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A722 |  | 223256 | 3986 | SH |  | SOLE |  | 3986 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 |  | 781693 | 6411 | SH |  | SOLE |  | 6411 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 1890372 | 13130 | SH |  | SOLE |  | 13130 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 474454 | 1791 | SH |  | SOLE |  | 1791 | 0 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 2756960 | 12118 | SH |  | SOLE |  | 12118 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 261405 | 1702 | SH |  | SOLE |  | 1702 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2020261 | 6648 | SH |  | SOLE |  | 6648 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 121556 | 400 | SH | Call | SOLE |  | 400 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 745428 | 4297 | SH |  | SOLE |  | 4297 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 2707806 | 4673 | SH |  | SOLE |  | 4673 | 0 | 0 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 |  | 638168 | 19124 | SH |  | SOLE |  | 19124 | 0 | 0 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 410781 | 1919 | SH |  | SOLE |  | 1919 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1646087 | 4986 | SH |  | SOLE |  | 4986 | 0 | 0 |
| VANGUARD WORLD FD | COMM SRVC ETF | 92204A884 |  | 4919027 | 25404 | SH |  | SOLE |  | 25404 | 0 | 0 |
| VANGUARD WORLD FD | CONSUM DIS ETF | 92204A108 |  | 1031546 | 2619 | SH |  | SOLE |  | 2619 | 0 | 0 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 |  | 710472 | 5642 | SH |  | SOLE |  | 5642 | 0 | 0 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 436736 | 3272 | SH |  | SOLE |  | 3272 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 1334209 | 4635 | SH |  | SOLE |  | 4635 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 9552305 | 12673 | SH |  | SOLE |  | 12673 | 0 | 0 |
| VANGUARD WORLD FD | MATERIALS ETF | 92204A801 |  | 1429806 | 6889 | SH |  | SOLE |  | 6889 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 247330 | 2795 | SH |  | SOLE |  | 2795 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 396522 | 5124 | SH |  | SOLE |  | 5124 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 747591 | 1649 | SH |  | SOLE |  | 1649 | 0 | 0 |
| WP CAREY INC | COM | 92936U109 |  | 849616 | 13201 | SH |  | SOLE |  | 13201 | 0 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 3480030 | 14225 | SH |  | SOLE |  | 14225 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 2536572 | 22296 | SH |  | SOLE |  | 22296 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 2171092 | 23295 | SH |  | SOLE |  | 23295 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1365364 | 1993 | SH |  | SOLE |  | 1993 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 488381 | 1984 | SH |  | SOLE |  | 1984 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 202009 | 589 | SH |  | SOLE |  | 589 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2853843 | 43240 | SH |  | SOLE |  | 43240 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 5164833 | 42976 | SH |  | SOLE |  | 42976 | 0 | 0 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 |  | 328810 | 1314 | SH |  | SOLE |  | 1314 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 6820020 | 34337 | SH |  | SOLE |  | 34337 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 741951 | 3873 | SH |  | SOLE |  | 3873 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A805 |  | 525797 | 6373 | SH |  | SOLE |  | 6373 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 901300 | 1494 | SH |  | SOLE |  | 1494 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A847 |  | 4724535 | 81584 | SH |  | SOLE |  | 81584 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1211772 | 1777 | SH |  | SOLE |  | 1777 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 2036465 | 25386 | SH |  | SOLE |  | 25386 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R853 |  | 674144 | 14386 | SH |  | SOLE |  | 14386 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R812 |  | 6662834 | 38251 | SH |  | SOLE |  | 38251 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 649438 | 2955 | SH |  | SOLE |  | 2955 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 1106161 | 7707 | SH |  | SOLE |  | 7707 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 598120 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 256882 | 1345 | SH |  | SOLE |  | 1345 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1597098 | 5503 | SH |  | SOLE |  | 5503 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1172475 | 4545 | SH |  | SOLE |  | 4545 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1573816 | 4694 | SH |  | SOLE |  | 4694 | 0 | 0 |
| WISDOMTREE TR | US LARGECAP FUND | 97717W588 |  | 6144016 | 86706 | SH |  | SOLE |  | 86706 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 672338 | 4766 | SH |  | SOLE |  | 4766 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 399763 | 4469 | SH |  | SOLE |  | 4469 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1162368 | 17292 | SH |  | SOLE |  | 17292 | 0 | 0 |
| ISHARES TR | INTERNATIONAL SL | 46434V266 |  | 1224757 | 29526 | SH |  | SOLE |  | 29526 | 0 | 0 |
| ISHARES TR | EAFE SML CP ETF | 464288273 |  | 399047 | 5147 | SH |  | SOLE |  | 5147 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | INTL BUYBACK | 46138E644 |  | 3369200 | 60627 | SH |  | SOLE |  | 60627 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 3180594 | 71619 | SH |  | SOLE |  | 71619 | 0 | 0 |
| SPDR INDEX SHS FDS | S EMKTSC ETF | 78463X756 |  | 3016533 | 45944 | SH |  | SOLE |  | 45944 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 4286770 | 91578 | SH |  | SOLE |  | 91578 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 213177 | 2898 | SH |  | SOLE |  | 2898 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 1725297 | 27618 | SH |  | SOLE |  | 27618 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 3037567 | 56502 | SH |  | SOLE |  | 56502 | 0 | 0 |
| WISDOMTREE TR | EMG MKTS SMCAP | 97717W281 |  | 2067222 | 36115 | SH |  | SOLE |  | 36115 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | INSTL PFD SECS | 33739P855 |  | 5327632 | 274762 | SH |  | SOLE |  | 274762 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 276944 | 15200 | SH |  | SOLE |  | 15200 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 1671628 | 16653 | SH |  | SOLE |  | 16653 | 0 | 0 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 |  | 2178731 | 42973 | SH |  | SOLE |  | 42973 | 0 | 0 |
| ISHARES TR | IBONDS 27 TRM TS | 46436E841 |  | 286419 | 12747 | SH |  | SOLE |  | 12747 | 0 | 0 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 227481 | 4222 | SH |  | SOLE |  | 4222 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 248495 | 2320 | SH |  | SOLE |  | 2320 | 0 | 0 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 809640 | 7588 | SH |  | SOLE |  | 7588 | 0 | 0 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 2657805 | 52547 | SH |  | SOLE |  | 52547 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2027 CB | 46138J783 |  | 3087795 | 156423 | SH |  | SOLE |  | 156423 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INVSCO BLSH 28 | 46138J643 |  | 7662283 | 371955 | SH |  | SOLE |  | 371955 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULETSHS 2029 | 46138J577 |  | 1062784 | 56426 | SH |  | SOLE |  | 56426 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INVSCO 30 CORP | 46138J460 |  | 7959548 | 470422 | SH |  | SOLE |  | 470422 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULLETSHS 2032 | 46139W858 |  | 2205256 | 105641 | SH |  | SOLE |  | 105641 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | VAR RATE INVT | 46090A879 |  | 3294005 | 131235 | SH |  | SOLE |  | 131235 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 1128119 | 22339 | SH |  | SOLE |  | 22339 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 1732377 | 34243 | SH |  | SOLE |  | 34243 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 1320518 | 25923 | SH |  | SOLE |  | 25923 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 9438361 | 186603 | SH |  | SOLE |  | 186603 | 0 | 0 |
| NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 |  | 141792 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| NUVEEN MUNICIPAL CREDIT INC | COM SH BEN INT | 67070X101 |  | 202123 | 16067 | SH |  | SOLE |  | 16067 | 0 | 0 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 398002 | 7594 | SH |  | SOLE |  | 7594 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 3828099 | 41892 | SH |  | SOLE |  | 41892 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A375 |  | 8402912 | 248533 | SH |  | SOLE |  | 248533 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R200 |  | 320698 | 10436 | SH |  | SOLE |  | 10436 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R739 |  | 898133 | 18715 | SH |  | SOLE |  | 18715 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 3602991 | 119304 | SH |  | SOLE |  | 119304 | 0 | 0 |
| VANECK ETF TRUST | IG FLOATING RATE | 92189F486 |  | 8334682 | 327107 | SH |  | SOLE |  | 327107 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 681819 | 11609 | SH |  | SOLE |  | 11609 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 10072669 | 126335 | SH |  | SOLE |  | 126335 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C417 |  | 248060 | 6092 | SH |  | SOLE |  | 6092 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQUT BUFR AUG | 45782C698 |  | 274216 | 5480 | SH |  | SOLE |  | 5480 | 0 | 0 |
| INNOVATOR ETFS TRUST | US EQTY BUFR MAR | 45782C391 |  | 238718 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| INNOVATOR ETFS TRUST | DEFINED WLT SHLD | 45783Y855 |  | 350682 | 10465 | SH |  | SOLE |  | 10465 | 0 | 0 |

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