# EDGAR Filing Document

**Accession Number:** 0001842013
**File Stem:** 0001085146-25-004697
**Filing Date:** 2025-8
**Character Count:** 20195
**Document Hash:** 410a5c0608d1edeaea0202f96b82fe94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-004697.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001085146-25-004697

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**EFFECTIVENESS DATE**: 20250808

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kaizen Financial Strategies
- **CENTRAL INDEX KEY:** 0001842013

**ORGANIZATION NAME:**
- **EIN:** 832391273

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20537
- **FILM NUMBER:** 251196724

**BUSINESS ADDRESS:**
- **STREET 1:** 2105 SOUTH BASCOM AVE, SUITE 295
- **CITY:** CAMPBELL
- **STATE:** CA
- **ZIP:** 95008
- **BUSINESS PHONE:** 408-819-9010

**MAIL ADDRESS:**
- **STREET 1:** 2105 S BASCOM AVE, STE 295
- **CITY:** CAMPBELL
- **STATE:** CA
- **ZIP:** 95008

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Kaizen Financial Strategies<br>**Address:** 2105 S BASCOM AVE STE 295<br>CAMPBELL, CA 95008

**Form 13F File Number:** 028-20537

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:** John Stachnick<br>**Title:** Chief Compliance Officer<br>**Phone:** 408-819-9010

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

/s/John Stachnick  Campbell, CA  08-08-2025<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:** 150

**Form 13F Information Table Value Total:** $196846210

      (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 |
| 3M CO | COM | 88579Y101 | BBG001S5T7X2 | 300978 | 1977 | SH |  | SOLE |  | 0 | 0 | 1977 |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 219260 | 1612 | SH |  | SOLE |  | 0 | 0 | 1612 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 809686 | 4362 | SH |  | SOLE |  | 0 | 0 | 4362 |
| ADOBE INC | COM | 00724F101 | BBG001S5NCQ5 | 675492 | 1746 | SH |  | SOLE |  | 0 | 0 | 1746 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | BBG001S5NN36 | 858069 | 6047 | SH |  | SOLE |  | 0 | 0 | 6047 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 204138 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| ALLIANCEBERNSTEIN GLOBAL HIG | COM | 01879R106 | BBG001S6LJ53 | 363232 | 32931 | SH |  | SOLE |  | 0 | 0 | 32931 |
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 | BBG001V0T5F3 | 237475 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 2287393 | 12980 | SH |  | SOLE |  | 0 | 0 | 12980 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 4169241 | 23503 | SH |  | SOLE |  | 0 | 0 | 23503 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 4693410 | 21393 | SH |  | SOLE |  | 0 | 0 | 21393 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 469496 | 1682 | SH |  | SOLE |  | 0 | 0 | 1682 |
| AMPLIFY ETF TR | AMPLIFY CYBERSEC | 032108664 | BBG01L6XYQ08 | 452162 | 5235 | SH |  | SOLE |  | 0 | 0 | 5235 |
| AMPLIFY ETF TR | BLOCKCHAIN LDR | 032108607 | BBG00JRH3FV0 | 1161046 | 20330 | SH |  | SOLE |  | 0 | 0 | 20330 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 12681093 | 61808 | SH |  | SOLE |  | 0 | 0 | 61808 |
| APPLIED MATLS INC | COM | 038222105 | BBG001S5NMM7 | 627739 | 3429 | SH |  | SOLE |  | 0 | 0 | 3429 |
| ARCHER AVIATION INC | COM CL A | 03945R102 | BBG00XRTC929 | 715568 | 65951 | SH |  | SOLE |  | 0 | 0 | 65951 |
| ARGAN INC | COM | 04010E109 | BBG001SJP7D8 | 1018618 | 4620 | SH |  | SOLE |  | 0 | 0 | 4620 |
| ARIS WATER SOLUTIONS INC | CLASS A COM | 04041L106 | BBG012PPXNM0 | 479845 | 20289 | SH |  | SOLE |  | 0 | 0 | 20289 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 | BBG01J1GY084 | 650033 | 4019 | SH |  | SOLE |  | 0 | 0 | 4019 |
| AXON ENTERPRISE INC | COM | 05464C101 | BBG001SB2HG5 | 474410 | 573 | SH |  | SOLE |  | 0 | 0 | 573 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 376966 | 311 | SH |  | SOLE |  | 0 | 0 | 311 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 210734 | 4453 | SH |  | SOLE |  | 0 | 0 | 4453 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 348297 | 717 | SH |  | SOLE |  | 0 | 0 | 717 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 4478420 | 29940 | SH |  | SOLE |  | 0 | 0 | 29940 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 | BBG00XV417S7 | 252698 | 13155 | SH |  | SOLE |  | 0 | 0 | 13155 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 335466 | 1217 | SH |  | SOLE |  | 0 | 0 | 1217 |
| CAPITAL GROUP DIVIDEND VALUE | SHS CREATION UNI | 14020W106 | BBG015H8BXT5 | 9772156 | 247459 | SH |  | SOLE |  | 0 | 0 | 247459 |
| CARDINAL HEALTH INC | COM | 14149Y108 | BBG001S7PC34 | 438480 | 2610 | SH |  | SOLE |  | 0 | 0 | 2610 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 462374 | 1191 | SH |  | SOLE |  | 0 | 0 | 1191 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 230581 | 1610 | SH |  | SOLE |  | 0 | 0 | 1610 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 | BBG001S5PW43 | 87940 | 11571 | SH |  | SOLE |  | 0 | 0 | 11571 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 1143609 | 1155 | SH |  | SOLE |  | 0 | 0 | 1155 |
| CUBESMART | COM | 229663109 | BBG001SHP0D7 | 206797 | 4866 | SH |  | SOLE |  | 0 | 0 | 4866 |
| DIMENSIONAL ETF TRUST | CALIF MUN BD ETF | 25434V633 | BBG01H4ZQZZ5 | 232111 | 4710 | SH |  | SOLE |  | 0 | 0 | 4710 |
| DIREXION SHS ETF TR | NAS100 EQL WGT | 25459Y207 | BBG001V0SZW9 | 242542 | 2467 | SH |  | SOLE |  | 0 | 0 | 2467 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 1600032 | 2053 | SH |  | SOLE |  | 0 | 0 | 2053 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 229002 | 12631 | SH |  | SOLE |  | 0 | 0 | 12631 |
| ENTERGY CORP NEW | COM | 29364G103 | BBG001S67KF5 | 419922 | 5052 | SH |  | SOLE |  | 0 | 0 | 5052 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 | BBG001S5RC36 | 217879 | 2294 | SH |  | SOLE |  | 0 | 0 | 2294 |
| FIDELITY NATIONAL FINANCIAL | COM SHS | 31620R303 | BBG006N7S6J1 | 229006 | 4085 | SH |  | SOLE |  | 0 | 0 | 4085 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ CYB ETF | 33734X846 | BBG009K1H2W7 | 654198 | 8656 | SH |  | SOLE |  | 0 | 0 | 8656 |
| FIRST TR EXCHANGE-TRADED FD | WTR ETF | 33733B100 | BBG001SS8248 | 380170 | 3521 | SH |  | SOLE |  | 0 | 0 | 3521 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 299649 | 1738 | SH |  | SOLE |  | 0 | 0 | 1738 |
| FRANKLIN TEMPLETON ETF TR | FTSE MEXICO | 35473P736 | BBG00J3MSND1 | 250890 | 8450 | SH |  | SOLE |  | 0 | 0 | 8450 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 | BBG001S5NKC2 | 292833 | 915 | SH |  | SOLE |  | 0 | 0 | 915 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 650506 | 2527 | SH |  | SOLE |  | 0 | 0 | 2527 |
| GE VERNOVA INC | COM | 36828A101 | BBG013G17W77 | 214060 | 405 | SH |  | SOLE |  | 0 | 0 | 405 |
| GILEAD SCIENCES INC | COM | 375558103 | BBG001S6Y1X7 | 270864 | 2443 | SH |  | SOLE |  | 0 | 0 | 2443 |
| GLOBAL X FDS | NASDAQ 100 COVER | 37954Y483 | BBG00MVW9603 | 1239169 | 74113 | SH |  | SOLE |  | 0 | 0 | 74113 |
| GLOBAL X FDS | S 500 COVERED | 37954Y475 | BBG00MVL3G29 | 1402502 | 36017 | SH |  | SOLE |  | 0 | 0 | 36017 |
| HESS MIDSTREAM LP | CL A SHS | 428103105 | BBG00R02H8F3 | 493792 | 12822 | SH |  | SOLE |  | 0 | 0 | 12822 |
| HONEYWELL INTL INC | COM | 438516106 | BBG001S5X1N1 | 295951 | 1271 | SH |  | SOLE |  | 0 | 0 | 1271 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 | BBG001S7XR78 | 219538 | 404 | SH |  | SOLE |  | 0 | 0 | 404 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 | BBG001V18CG8 | 202076 | 2775 | SH |  | SOLE |  | 0 | 0 | 2775 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 | BBG00KJR2V68 | 668792 | 16400 | SH |  | SOLE |  | 0 | 0 | 16400 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 2497802 | 4528 | SH |  | SOLE |  | 0 | 0 | 4528 |
| ISHARES INC | MSCI CDA ETF | 464286509 | BBG001S8R7V0 | 231000 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| ISHARES INC | MSCI ITALY ETF | 46434G830 | BBG001S8SYM0 | 346608 | 7200 | SH |  | SOLE |  | 0 | 0 | 7200 |
| ISHARES INC | MSCI SPAIN ETF | 464286764 | BBG001S8SYT3 | 268583 | 6100 | SH |  | SOLE |  | 0 | 0 | 6100 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 | BBG001S8MLN3 | 311611 | 3531 | SH |  | SOLE |  | 0 | 0 | 3531 |
| ISHARES TR | CORE S US GWT | 464287671 | BBG001SFQL99 | 711683 | 4732 | SH |  | SOLE |  | 0 | 0 | 4732 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 480233 | 773 | SH |  | SOLE |  | 0 | 0 | 773 |
| ISHARES TR | FALN ANGLS USD | 46435G474 | BBG00D332C84 | 413123 | 15222 | SH |  | SOLE |  | 0 | 0 | 15222 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 | BBG001S60QR6 | 696690 | 6356 | SH |  | SOLE |  | 0 | 0 | 6356 |
| ISHARES TR | MRGSTR MD CP GRW | 464288307 | BBG001SBRK44 | 410196 | 5113 | SH |  | SOLE |  | 0 | 0 | 5113 |
| ISHARES TR | MSCI ACWI EX US | 464288240 | BBG001S56R18 | 269355 | 4420 | SH |  | SOLE |  | 0 | 0 | 4420 |
| ISHARES TR | MSCI POLAND ETF | 46429B606 | BBG001S56L11 | 387120 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 | BBG001S562F8 | 350179 | 1225 | SH |  | SOLE |  | 0 | 0 | 1225 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 600445 | 2783 | SH |  | SOLE |  | 0 | 0 | 2783 |
| J P MORGAN EXCHANGE TRADED F | INTRNL RES EQT | 46641Q134 | BBG016CBQVP3 | 4699199 | 66401 | SH |  | SOLE |  | 0 | 0 | 66401 |
| JOBY AVIATION INC | COMMON STOCK | G65163100 | BBG00X2MYTD1 | 124532 | 11804 | SH |  | SOLE |  | 0 | 0 | 11804 |
| JPMORGAN CHASE  CO. | COM | 46625H100 | BBG001S8CRC3 | 688349 | 2374 | SH |  | SOLE |  | 0 | 0 | 2374 |
| KINROSS GOLD CORP | COM | 496902404 | BBG001S5R0C2 | 470463 | 30100 | SH |  | SOLE |  | 0 | 0 | 30100 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 | BBG001SD5VL1 | 761780 | 16400 | SH |  | SOLE |  | 0 | 0 | 16400 |
| LAM RESEARCH CORP | COM NEW | 512807306 | BBG001S5SW40 | 464601 | 4773 | SH |  | SOLE |  | 0 | 0 | 4773 |
| LEIDOS HOLDINGS INC | COM | 525327102 | BBG001SKW6M9 | 274502 | 1740 | SH |  | SOLE |  | 0 | 0 | 1740 |
| LENNAR CORP | CL A | 526057104 | BBG001S5SRK3 | 360993 | 3264 | SH |  | SOLE |  | 0 | 0 | 3264 |
| MAIN STR CAP CORP | COM | 56035L104 | BBG001SJMVT1 | 207859 | 3517 | SH |  | SOLE |  | 0 | 0 | 3517 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 1377425 | 1866 | SH |  | SOLE |  | 0 | 0 | 1866 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 3897501 | 7836 | SH |  | SOLE |  | 0 | 0 | 7836 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG001S9V5Z3 | 371586 | 2638 | SH |  | SOLE |  | 0 | 0 | 2638 |
| MORGAN STANLEY EMERGING MKTS | COM | 617477104 | BBG001SRJQL6 | 640020 | 125004 | SH |  | SOLE |  | 0 | 0 | 125004 |
| NETFLIX INC | COM | 64110L106 | BBG001SF6L46 | 1059252 | 791 | SH |  | SOLE |  | 0 | 0 | 791 |
| NEWMONT CORP | COM | 651639106 | BBG001S5TKX3 | 201986 | 3467 | SH |  | SOLE |  | 0 | 0 | 3467 |
| NEXTERA ENERGY INC | UNIT 09/01/2025 | 65339F713 |  | 427284 | 10752 | SH |  | SOLE |  | 0 | 0 | 10752 |
| NOVO-NORDISK A S | ADR | 670100205 | BBG001S5TSK0 | 231493 | 3354 | SH |  | SOLE |  | 0 | 0 | 3354 |
| NUSCALE PWR CORP | CL A COM | 67079K100 | BBG00YG48PG8 | 618758 | 15641 | SH |  | SOLE |  | 0 | 0 | 15641 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 9237922 | 58472 | SH |  | SOLE |  | 0 | 0 | 58472 |
| OKLO INC | COM CL A | 02156V109 | BBG0112CBMQ8 | 642597 | 11477 | SH |  | SOLE |  | 0 | 0 | 11477 |
| ONEOK INC NEW | COM | 682680103 | BBG001S5TWK1 | 564724 | 6918 | SH |  | SOLE |  | 0 | 0 | 6918 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 441043 | 2017 | SH |  | SOLE |  | 0 | 0 | 2017 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG001T53796 | 825281 | 6054 | SH |  | SOLE |  | 0 | 0 | 6054 |
| PALO ALTO NETWORKS INC | COM | 697435105 | BBG001T9NWN5 | 432200 | 2112 | SH |  | SOLE |  | 0 | 0 | 2112 |
| PIMCO DYNAMIC INCOME FD | SHS | 72201Y101 | BBG002Q8P804 | 654031 | 34477 | SH |  | SOLE |  | 0 | 0 | 34477 |
| PROGRESSIVE CORP | COM | 743315103 | BBG001S5V509 | 678892 | 2544 | SH |  | SOLE |  | 0 | 0 | 2544 |
| PROSHARES TR | BITCOIN ETF | 74347G440 | BBG0131STKH5 | 200258 | 9310 | SH |  | SOLE |  | 0 | 0 | 9310 |
| PROSHARES TR II | ULTRA VIX SHORT | 74347Y755 | BBG0024QY2P4 | 5388 | 13600 | SH | Call | SOLE |  | 0 | 0 | 13600 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 434691 | 2729 | SH |  | SOLE |  | 0 | 0 | 2729 |
| ROYAL GOLD INC | COM | 780287108 | BBG001S5VNX4 | 465229 | 2616 | SH |  | SOLE |  | 0 | 0 | 2616 |
| SALESFORCE INC | COM | 79466L302 | BBG001SDLP09 | 1706140 | 6257 | SH |  | SOLE |  | 0 | 0 | 6257 |
| SCHWAB STRATEGIC TR | 1000 INDEX ETF | 808524722 | BBG00HXSKY16 | 493879 | 16562 | SH |  | SOLE |  | 0 | 0 | 16562 |
| SCHWAB STRATEGIC TR | 5 10YR CORP BD | 808524698 | BBG00PZFPGG2 | 7130799 | 313304 | SH |  | SOLE |  | 0 | 0 | 313304 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL EMER | 808524730 | BBG0051QPC87 | 1412135 | 42779 | SH |  | SOLE |  | 0 | 0 | 42779 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 | BBG0051K49J8 | 890765 | 22258 | SH |  | SOLE |  | 0 | 0 | 22258 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US B | 808524789 | BBG0051GPYJ9 | 2820839 | 117633 | SH |  | SOLE |  | 0 | 0 | 117633 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US S | 808524763 | BBG0051NXNX3 | 1560566 | 54470 | SH |  | SOLE |  | 0 | 0 | 54470 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 | BBG001T9F7C1 | 1769546 | 70697 | SH |  | SOLE |  | 0 | 0 | 70697 |
| SCHWAB STRATEGIC TR | LONG TERM US | 808524680 | BBG00PZFJQM0 | 3785247 | 118697 | SH |  | SOLE |  | 0 | 0 | 118697 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 | BBG001WBMLH8 | 233794 | 10060 | SH |  | SOLE |  | 0 | 0 | 10060 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 | BBG001T66WN0 | 15621099 | 534786 | SH |  | SOLE |  | 0 | 0 | 534786 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 | BBG001V036R6 | 319281 | 11383 | SH |  | SOLE |  | 0 | 0 | 11383 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 | BBG001T5XQW5 | 271479 | 10730 | SH |  | SOLE |  | 0 | 0 | 10730 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 | BBG00L5F9FV7 | 680206 | 6267 | SH |  | SOLE |  | 0 | 0 | 6267 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 818543 | 15630 | SH |  | SOLE |  | 0 | 0 | 15630 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 | BBG001S7T232 | 228951 | 1552 | SH |  | SOLE |  | 0 | 0 | 1552 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 | BBG00B597137 | 791868 | 19118 | SH |  | SOLE |  | 0 | 0 | 19118 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 | BBG001S7T1Q9 | 232515 | 1070 | SH |  | SOLE |  | 0 | 0 | 1070 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 | BBG001S7TD56 | 308675 | 3780 | SH |  | SOLE |  | 0 | 0 | 3780 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | BBG001S7TCZ5 | 1797053 | 7097 | SH |  | SOLE |  | 0 | 0 | 7097 |
| SERVICENOW INC | COM | 81762P102 | BBG001T4JFC0 | 286834 | 279 | SH |  | SOLE |  | 0 | 0 | 279 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 367641 | 2287 | SH |  | SOLE |  | 0 | 0 | 2287 |
| SLM CORP | COM | 78442P106 | BBG001S5W4T0 | 302133 | 9214 | SH |  | SOLE |  | 0 | 0 | 9214 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 | BBG001S8LH99 | 2014209 | 4571 | SH |  | SOLE |  | 0 | 0 | 4571 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 419751 | 1377 | SH |  | SOLE |  | 0 | 0 | 1377 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 16594392 | 26858 | SH |  | SOLE |  | 0 | 0 | 26858 |
| SPDR SERIES TRUST | COMP SOFTWARE | 78464A599 | BBG0024LG5C2 | 523903 | 2760 | SH |  | SOLE |  | 0 | 0 | 2760 |
| SPDR SERIES TRUST | FACTST INV ETF | 78464A110 | BBG00BVVM2R4 | 627546 | 3314 | SH |  | SOLE |  | 0 | 0 | 3314 |
| SPDR SERIES TRUST | S INS ETF | 78464A789 | BBG001SPTB50 | 501099 | 8388 | SH |  | SOLE |  | 0 | 0 | 8388 |
| SPDR SERIES TRUST | S SEMICNDCTR | 78464A862 | BBG001SQDKJ0 | 513020 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| SPDR SERIES TRUST | S TELECOM | 78464A540 | BBG001V08KQ1 | 717952 | 6120 | SH |  | SOLE |  | 0 | 0 | 6120 |
| STAG INDL INC | COM | 85254J102 | BBG001T9F312 | 595493 | 16414 | SH |  | SOLE |  | 0 | 0 | 16414 |
| TEMPLETON EMERGING MKTS INCO | COM | 880192109 | BBG001S5WMJ1 | 983042 | 163840 | SH |  | SOLE |  | 0 | 0 | 163840 |
| TESLA INC | COM | 88160R101 | BBG001SQKGD7 | 2727746 | 8587 | SH |  | SOLE |  | 0 | 0 | 8587 |
| UNITED STS LIME  MINERALS I | COM | 911922102 | BBG001S7MWH8 | 597902 | 5991 | SH |  | SOLE |  | 0 | 0 | 5991 |
| UNITED STS OIL FD LP | UNITS | 91232N207 | BBG001SQNKR0 | 559145 | 7648 | SH |  | SOLE |  | 0 | 0 | 7648 |
| URANIUM ENERGY CORP | COM | 916896103 | BBG001SK6158 | 323075 | 47511 | SH |  | SOLE |  | 0 | 0 | 47511 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189F437 | BBG002VZY7Y3 | 380147 | 12983 | SH |  | SOLE |  | 0 | 0 | 12983 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 | BBG002D68GN8 | 3210074 | 11511 | SH |  | SOLE |  | 0 | 0 | 11511 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 1382988 | 2435 | SH |  | SOLE |  | 0 | 0 | 2435 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 329099 | 1389 | SH |  | SOLE |  | 0 | 0 | 1389 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 | BBG001SHTTW9 | 312877 | 1130 | SH |  | SOLE |  | 0 | 0 | 1130 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 926683 | 3049 | SH |  | SOLE |  | 0 | 0 | 3049 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 909148 | 18381 | SH |  | SOLE |  | 0 | 0 | 18381 |
| VANGUARD MALVERN FDS | CORE BD ETF | 922020748 | BBG01KH0XWG1 | 9525496 | 122783 | SH |  | SOLE |  | 0 | 0 | 122783 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | BBG001T62M74 | 1231015 | 20943 | SH |  | SOLE |  | 0 | 0 | 20943 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 3326594 | 16253 | SH |  | SOLE |  | 0 | 0 | 16253 |
| VICTORY CAP HLDGS INC | COM CL A | 92645B103 | BBG0074JPDP5 | 411308 | 6460 | SH |  | SOLE |  | 0 | 0 | 6460 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 1016782 | 2864 | SH |  | SOLE |  | 0 | 0 | 2864 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 | BBG00L8YYQ05 | 322883 | 4928 | SH |  | SOLE |  | 0 | 0 | 4928 |

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