# EDGAR Filing Document

**Accession Number:** 0001633901
**File Stem:** 0001633901-23-000001
**Filing Date:** 2023-2
**Character Count:** 29340
**Document Hash:** 010ff55a4f83208ad44b82ef04b8a402
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001633901-23-000001.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001633901-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Betterment LLC
- **CENTRAL INDEX KEY:** 0001633901
- **IRS NUMBER:** 800620933
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16706
- **FILM NUMBER:** 23616014

**BUSINESS ADDRESS:**
- **STREET 1:** 27 WEST 23RD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-228-1328

**MAIL ADDRESS:**
- **STREET 1:** 8 WEST 24TH STREET, 6TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Betterment LLC<br>**Address:** 8 WEST 24TH STREET 6TH FLOOR<br>NEW YORK, NY 10010

**Form 13F File Number:** 028-16706

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:** Khaley Sestak<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-228-1328

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

Khaley Sestak  New York, NY  02-13-2023<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:** 252

**Form 13F Information Table Value Total:** $29154000

      (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 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 1890 | 17759 | SH |  | SOLE |  | 17759 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 5515359 | 28847527 | SH |  | SOLE |  | 28847527 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 73665 | 507786 | SH |  | SOLE |  | 507786 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 218116 | 2070592 | SH |  | SOLE |  | 2070592 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 153679 | 1108236 | SH |  | SOLE |  | 1108236 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 4247 | 52321 | SH |  | SOLE |  | 52321 | 0 | 0 |
| VANGUARD TAX MANAGED INTL FD | VAN FTSE DEV MKT | 921943858 |  | 4363180 | 103959506 | SH |  | SOLE |  | 103959506 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 2797855 | 71776690 | SH |  | SOLE |  | 71776690 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1353 | 3537 | SH |  | SOLE |  | 3537 | 0 | 0 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 366797 | 3336947 | SH |  | SOLE |  | 3336947 | 0 | 0 |
| VANGUARD BD INDEX FD INC | TOTAL BND MRKT | 921937835 |  | 104780 | 1458517 | SH |  | SOLE |  | 1458517 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 2449 | 29697 | SH |  | SOLE |  | 29697 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 768405 | 7922519 | SH |  | SOLE |  | 7922519 | 0 | 0 |
| VANGUARD WHITEHALL FDS INC | EM MK GOV BD ETF | 921946885 |  | 133212 | 2184526 | SH |  | SOLE |  | 2184526 | 0 | 0 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 1640254 | 34582637 | SH |  | SOLE |  | 34582637 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 384845 | 8239033 | SH |  | SOLE |  | 8239033 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 13222 | 125406 | SH |  | SOLE |  | 125406 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 1020191 | 9668221 | SH |  | SOLE |  | 9668221 | 0 | 0 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 4339 | 77324 | SH |  | SOLE |  | 77324 | 0 | 0 |
| ISHARES TR | NEW YORK MUN ETF | 464288323 |  | 5011 | 95626 | SH |  | SOLE |  | 95626 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 2488 | 32104 | SH |  | SOLE |  | 32104 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 |  | 545 | 17114 | SH |  | SOLE |  | 17114 | 0 | 0 |
| SPDR SERIES TRUST | NUVEEN BLMBRG MU | 78468R721 |  | 245002 | 5370505 | SH |  | SOLE |  | 5370505 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 780397 | 9225638 | SH |  | SOLE |  | 9225638 | 0 | 0 |
| Invesco | I EMRNG MKT SVRG | 46138E784 |  | 5709 | 305783 | SH |  | SOLE |  | 305783 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 324486 | 7241364 | SH |  | SOLE |  | 7241364 | 0 | 0 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 1153996 | 13608449 | SH |  | SOLE |  | 13608449 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 1696616 | 12086745 | SH |  | SOLE |  | 12086745 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 132738 | 2010576 | SH |  | SOLE |  | 2010576 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 1351508 | 9993406 | SH |  | SOLE |  | 9993406 | 0 | 0 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 4734 | 46963 | SH |  | SOLE |  | 46963 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 1184528 | 7459242 | SH |  | SOLE |  | 7459242 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 527886 | 16388889 | SH |  | SOLE |  | 16388889 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 758273 | 12301643 | SH |  | SOLE |  | 12301643 | 0 | 0 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 2282 | 96397 | SH |  | SOLE |  | 96397 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 455126 | 9745736 | SH |  | SOLE |  | 9745736 | 0 | 0 |
| VANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 921908844 |  | 1731 | 11398 | SH |  | SOLE |  | 11398 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 1481 | 28595 | SH |  | SOLE |  | 28595 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | GLB EX US ETF | 922042676 |  | 3948 | 95495 | SH |  | SOLE |  | 95495 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 6378 | 16600 | SH |  | SOLE |  | 16600 | 0 | 0 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 |  | 9540 | 494540 | SH |  | SOLE |  | 494540 | 0 | 0 |
| Invesco | UNIT SER 1 | 46090E103 |  | 8379 | 31465 | SH |  | SOLE |  | 31465 | 0 | 0 |
| VANGUARD BD INDEX FD INC | LONG TERM BOND | 921937793 |  | 8855 | 122241 | SH |  | SOLE |  | 122241 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 269 | 1540 | SH |  | SOLE |  | 1540 | 0 | 0 |
| ISHARES | CORE LT USDB ETF | 464289479 |  | 1053 | 20685 | SH |  | SOLE |  | 20685 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 18606 | 194262 | SH |  | SOLE |  | 194262 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 1104 | 19878 | SH |  | SOLE |  | 19878 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 21651 | 117966 | SH |  | SOLE |  | 117966 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 337 | 1654 | SH |  | SOLE |  | 1654 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 74837 | 213004 | SH |  | SOLE |  | 213004 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 979 | 4046 | SH |  | SOLE |  | 4046 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | NO AMER ENERGY | 33738D101 |  | 1024 | 38384 | SH |  | SOLE |  | 38384 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 591 | 2679 | SH |  | SOLE |  | 2679 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 379 | 5013 | SH |  | SOLE |  | 5013 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 36552 | 171516 | SH |  | SOLE |  | 171516 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 873 | 9223 | SH |  | SOLE |  | 9223 | 0 | 0 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 290 | 7149 | SH |  | SOLE |  | 7149 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 417 | 7131 | SH |  | SOLE |  | 7131 | 0 | 0 |
| VANGUARD STAR FD | VG TL INTL STK F | 921909768 |  | 1259 | 24340 | SH |  | SOLE |  | 24340 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 872 | 9967 | SH |  | SOLE |  | 9967 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 921932828 |  | 1112 | 6418 | SH |  | SOLE |  | 6418 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 6446 | 142764 | SH |  | SOLE |  | 142764 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 298 | 10642 | SH |  | SOLE |  | 10642 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 559 | 6113 | SH |  | SOLE |  | 6113 | 0 | 0 |
| ISHARES | MSCI GBL ETF NEW | 46434G848 |  | 224 | 5458 | SH |  | SOLE |  | 5458 | 0 | 0 |
| Invesco | GBL LISTED PVT | 46137V589 |  | 1055 | 111791 | SH |  | SOLE |  | 111791 | 0 | 0 |
| INDEXIQ ETF TR | HEDGE MLTI ETF | 45409B107 |  | 1471 | 51681 | SH |  | SOLE |  | 51681 | 0 | 0 |
| WISDOMTREE TR | FUTRE STRAT FD | 97717W125 |  | 2968 | 94099 | SH |  | SOLE |  | 94099 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 238 | 3630 | SH |  | SOLE |  | 3630 | 0 | 0 |
| VANGUARD BD INDEX FD INC | INTERMED TERM | 921937819 |  | 11455 | 154130 | SH |  | SOLE |  | 154130 | 0 | 0 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 |  | 519 | 29731 | SH |  | SOLE |  | 29731 | 0 | 0 |
| VANGUARD WHITEHALL FDS INC | HIGH DIV YLD | 921946406 |  | 1932 | 17852 | SH |  | SOLE |  | 17852 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 351 | 5413 | SH |  | SOLE |  | 5413 | 0 | 0 |
| VANGUARD BD INDEX FD INC | SHORT TRM BOND | 921937827 |  | 19499 | 259015 | SH |  | SOLE |  | 259015 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 5988 | 120186 | SH |  | SOLE |  | 120186 | 0 | 0 |
| ISHARES | MSCI EMERG MRKT | 464286533 |  | 3522 | 66391 | SH |  | SOLE |  | 66391 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 539 | 11739 | SH |  | SOLE |  | 11739 | 0 | 0 |
| WISDOMTREE TR | EMG MKTS SMCAP | 97717W281 |  | 711 | 16165 | SH |  | SOLE |  | 16165 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 882 | 28880 | SH |  | SOLE |  | 28880 | 0 | 0 |
| ISHARES TR | MBS ETF | 464288588 |  | 22785 | 245665 | SH |  | SOLE |  | 245665 | 0 | 0 |
| MARKET VECTORS ETF TR | HIGH YLD MUNIETF | 92189H409 |  | 676 | 13372 | SH |  | SOLE |  | 13372 | 0 | 0 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 469 | 4335 | SH |  | SOLE |  | 4335 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 2883 | 28954 | SH |  | SOLE |  | 28954 | 0 | 0 |
| VANGUARD BD INDEX FD INC | LONG TERM TREAS | 92206C847 |  | 1657 | 26886 | SH |  | SOLE |  | 26886 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO LN TSR | 78464A664 |  | 7576 | 260970 | SH |  | SOLE |  | 260970 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 442 | 3851 | SH |  | SOLE |  | 3851 | 0 | 0 |
| CAMBRIA ETF TR | VALUE MOMENTUM | 132061888 |  | 3012 | 110689 | SH |  | SOLE |  | 110689 | 0 | 0 |
| CAMBRIA ETF TR | GLOBAL VALUE ETF | 132061409 |  | 2687 | 134059 | SH |  | SOLE |  | 134059 | 0 | 0 |
| CAMBRIA ETF TR | GLB MOMENT ETF | 132061508 |  | 13028 | 460039 | SH |  | SOLE |  | 460039 | 0 | 0 |
| CAMBRIA ETF TR | SHSHLD YIELD ETF | 132061201 |  | 2211 | 37283 | SH |  | SOLE |  | 37283 | 0 | 0 |
| CAMBRIA ETF TR | CAMBRIA FGN SHR | 132061300 |  | 1299 | 53535 | SH |  | SOLE |  | 53535 | 0 | 0 |
| CAMBRIA ETF TR | EMRG SHAREHLDR | 132061706 |  | 1121 | 39977 | SH |  | SOLE |  | 39977 | 0 | 0 |
| Invesco | OPTIMUM YIELD | 46090F100 |  | 488 | 33019 | SH |  | SOLE |  | 33019 | 0 | 0 |
| WISDOMTREE TR | WISDOMTREE US VA | 97717W547 |  | 210 | 3678 | SH |  | SOLE |  | 3678 | 0 | 0 |
| VANGUARD BD INDEX FD INC | TAX EXEMPT BD | 922907746 |  | 762 | 15394 | SH |  | SOLE |  | 15394 | 0 | 0 |
| VANECK VECTORS TR | JP MRGAN EM LOC | 92189H300 |  | 1177 | 48585 | SH |  | SOLE |  | 48585 | 0 | 0 |
| VANGUARD INDEX FDS | 500 GRTH IDX F | 921932505 |  | 4830 | 22896 | SH |  | SOLE |  | 22896 | 0 | 0 |
| VANGUARD INDEX FDS | 500 VAL IDX FD | 921932703 |  | 3856 | 27532 | SH |  | SOLE |  | 27532 | 0 | 0 |
| ISHARES TR | CORE 1 5 YR USD | 46432F859 |  | 2038 | 43886 | SH |  | SOLE |  | 43886 | 0 | 0 |
| ISHARES TR | INTRM GOV CR ETF | 464288612 |  | 1049 | 10241 | SH |  | SOLE |  | 10241 | 0 | 0 |
| VANGUARD BD INDEX FD INC | MTG-BKD SECS ETF | 92206C771 |  | 9369 | 205816 | SH |  | SOLE |  | 205816 | 0 | 0 |
| ISHARES TR | CORE INTL AGGR | 46435G672 |  | 1243 | 26133 | SH |  | SOLE |  | 26133 | 0 | 0 |
| Goldman Sachs | ACTIVEBETA US LG | 381430503 |  | 231496 | 3040801 | SH |  | SOLE |  | 3040801 | 0 | 0 |
| Goldman Sachs | ACTIVEBETA INT | 381430107 |  | 116438 | 4045795 | SH |  | SOLE |  | 4045795 | 0 | 0 |
| Goldman Sachs | ACTIVEBETA EME | 381430206 |  | 23580 | 832925 | SH |  | SOLE |  | 832925 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 643 | 8494 | SH |  | SOLE |  | 8494 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 244 | 1161 | SH |  | SOLE |  | 1161 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 416 | 4051 | SH |  | SOLE |  | 4051 | 0 | 0 |
| ISHARES TR | USD INV GRDE ETF | 464288620 |  | 442 | 9003 | SH |  | SOLE |  | 9003 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG HIGH Y | 78468R622 |  | 378 | 4203 | SH |  | SOLE |  | 4203 | 0 | 0 |
| ISHARES TR | 10+ YR INVST GRD | 464289511 |  | 483 | 9703 | SH |  | SOLE |  | 9703 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWB FDT INT LG | 808524755 |  | 436 | 14994 | SH |  | SOLE |  | 14994 | 0 | 0 |
| Vanguard | SML CP GRW ETF | 922908595 |  | 3140 | 15658 | SH |  | SOLE |  | 15658 | 0 | 0 |
| Vanguard | CONSUM STP ETF | 92204A207 |  | 1523 | 7949 | SH |  | SOLE |  | 7949 | 0 | 0 |
| Vanguard | ALLWRLD EX US | 922042775 |  | 330 | 6586 | SH |  | SOLE |  | 6586 | 0 | 0 |
| Vanguard | MCAP GR IDXVIP | 922908538 |  | 7664 | 42635 | SH |  | SOLE |  | 42635 | 0 | 0 |
| Vanguard | TT WRLD ST ETF | 922042742 |  | 683 | 7925 | SH |  | SOLE |  | 7925 | 0 | 0 |
| Vanguard | EXTEND MKT ETF | 922908652 |  | 1000 | 7526 | SH |  | SOLE |  | 7526 | 0 | 0 |
| iShares | RUS 2000 GRW ETF | 464287648 |  | 401 | 1869 | SH |  | SOLE |  | 1869 | 0 | 0 |
| iShares | MSCI USA MIN VOL | 46429B697 |  | 2552 | 35396 | SH |  | SOLE |  | 35396 | 0 | 0 |
| iShares | 0-5 YR TIPS ETF | 46429B747 |  | 94842 | 978157 | SH |  | SOLE |  | 978157 | 0 | 0 |
| iShares | CORE MSCI TOTAL | 46432F834 |  | 238 | 4108 | SH |  | SOLE |  | 4108 | 0 | 0 |
| iShares | 0-5YR HI YL CP | 46434V407 |  | 7450 | 182192 | SH |  | SOLE |  | 182192 | 0 | 0 |
| Invesco | S EQL WGT | 46137V357 |  | 416 | 2946 | SH |  | SOLE |  | 2946 | 0 | 0 |
| SPDR | S DIVID ETF | 78464A763 |  | 1552 | 12405 | SH |  | SOLE |  | 12405 | 0 | 0 |
| Vanguard | MEGA GRWTH IND | 921910816 |  | 365 | 2120 | SH |  | SOLE |  | 2120 | 0 | 0 |
| Vanguard | SHRT TRM CORP BD | 92206C409 |  | 5043 | 67072 | SH |  | SOLE |  | 67072 | 0 | 0 |
| Vanguard | INTER TERM TREAS | 92206C706 |  | 581 | 9929 | SH |  | SOLE |  | 9929 | 0 | 0 |
| Schwab | SCHWAB FDT US SC | 808524763 |  | 477 | 10214 | SH |  | SOLE |  | 10214 | 0 | 0 |
| Schwab | SCHWB FDT EMK LG | 808524730 |  | 229 | 9261 | SH |  | SOLE |  | 9261 | 0 | 0 |
| Goldman Sachs | ACCES TREASURY | 381430529 |  | 497633 | 4990807 | SH |  | SOLE |  | 4990807 | 0 | 0 |
| iShares | RUS MID CAP ETF | 464287499 |  | 203 | 3012 | SH |  | SOLE |  | 3012 | 0 | 0 |
| iShares | FLTG RATE NT ETF | 46429B655 |  | 8451 | 167909 | SH |  | SOLE |  | 167909 | 0 | 0 |
| iShares | MSCI USA QLT FCT | 46432F339 |  | 539 | 4731 | SH |  | SOLE |  | 4731 | 0 | 0 |
| iShares | US TREAS BD ETF | 46429B267 |  | 413 | 18160 | SH |  | SOLE |  | 18160 | 0 | 0 |
| iShares | MSCI GBL MIN VOL | 464286525 |  | 3706 | 38997 | SH |  | SOLE |  | 38997 | 0 | 0 |
| WisdomTree | US MIDCAP DIVID | 97717W505 |  | 499 | 12141 | SH |  | SOLE |  | 12141 | 0 | 0 |
| iShares | MSCI USA VALUE | 46432F388 |  | 362 | 3969 | SH |  | SOLE |  | 3969 | 0 | 0 |
| iShares | EAFE GRWTH ETF | 464288885 |  | 491 | 5859 | SH |  | SOLE |  | 5859 | 0 | 0 |
| SPDR State Street Global Advisors | RL EST SEL SEC | 81369Y860 |  | 219 | 5937 | SH |  | SOLE |  | 5937 | 0 | 0 |
| iShares | MSCI USA MMENTM | 46432F396 |  | 1802 | 12347 | SH |  | SOLE |  | 12347 | 0 | 0 |
| iShares | BLACKROCK ST MAT | 46431W507 |  | 5854 | 118816 | SH |  | SOLE |  | 118816 | 0 | 0 |
| Vanguard | SHORT TERM TREAS | 92206C102 |  | 3226 | 55801 | SH |  | SOLE |  | 55801 | 0 | 0 |
| Schwab ETFs | SHT TM US TRES | 808524862 |  | 276 | 5721 | SH |  | SOLE |  | 5721 | 0 | 0 |
| iShares | SHRT NAT MUN ETF | 464288158 |  | 773 | 7412 | SH |  | SOLE |  | 7412 | 0 | 0 |
| iShares | CORE DIV GRWTH | 46434V621 |  | 264 | 5277 | SH |  | SOLE |  | 5277 | 0 | 0 |
| Van Eck | OIL SERVICES ETF | 92189H607 |  | 517 | 1699 | SH |  | SOLE |  | 1699 | 0 | 0 |
| WisdomTree | INTL SMCAP DIV | 97717W760 |  | 718 | 12384 | SH |  | SOLE |  | 12384 | 0 | 0 |
| Invesco | FTSE RAFI DEV | 46138E743 |  | 313 | 7526 | SH |  | SOLE |  | 7526 | 0 | 0 |
| SPDR State Street Global Advisors | S 600 SMCP VAL | 78464A300 |  | 7768 | 104662 | SH |  | SOLE |  | 104662 | 0 | 0 |
| Vanguard | MIDCP 400 GRTH | 921932869 |  | 899 | 5310 | SH |  | SOLE |  | 5310 | 0 | 0 |
| iShares | CORE TOTAL USD | 46434V613 |  | 1541 | 34305 | SH |  | SOLE |  | 34305 | 0 | 0 |
| iShares | RUS TP200 GR ETF | 464289438 |  | 210 | 1742 | SH |  | SOLE |  | 1742 | 0 | 0 |
| SPDR State Street Global Advisors | PORTFOLIO DEVLPD | 78463X889 |  | 1572 | 52941 | SH |  | SOLE |  | 52941 | 0 | 0 |
| iShares | MSCI KLD400 SOC | 464288570 |  | 43217 | 601998 | SH |  | SOLE |  | 601998 | 0 | 0 |
| SPDR State Street Global Advisors | PRTFLO S GW | 78464A409 |  | 664 | 13095 | SH |  | SOLE |  | 13095 | 0 | 0 |
| Van Eck | FALLEN ANGEL HG | 92189F437 |  | 1795 | 66427 | SH |  | SOLE |  | 66427 | 0 | 0 |
| iShares | MSCI USA ESG SLC | 464288802 |  | 19812 | 240670 | SH |  | SOLE |  | 240670 | 0 | 0 |
| WisdomTree | US SMALLCAP FUND | 97717W562 |  | 327 | 7686 | SH |  | SOLE |  | 7686 | 0 | 0 |
| iShares | MSCI LW CRB TG | 46434V464 |  | 166224 | 1203304 | SH |  | SOLE |  | 1203304 | 0 | 0 |
| SPDR State Street Global Advisors | PRTFLO S VL | 78464A508 |  | 84499 | 2172772 | SH |  | SOLE |  | 2172772 | 0 | 0 |
| SPDR State Street Global Advisors | PORTFOLIO EMG MK | 78463X509 |  | 23852 | 723659 | SH |  | SOLE |  | 723659 | 0 | 0 |
| Vanguard | INTL HIGH ETF | 921946794 |  | 429 | 7203 | SH |  | SOLE |  | 7203 | 0 | 0 |
| SPDR State Street Global Advisors | SPDR MSCI USA GE | 78468R747 |  | 2796 | 35492 | SH |  | SOLE |  | 35492 | 0 | 0 |
| Vanguard | INTL DVD ETF | 921946810 |  | 4543 | 65249 | SH |  | SOLE |  | 65249 | 0 | 0 |
| iShares | JP MRGN EM HI BD | 464286285 |  | 3674 | 105045 | SH |  | SOLE |  | 105045 | 0 | 0 |
| WisdomTree | EM LCL DEBT FD | 97717X867 |  | 205 | 7954 | SH |  | SOLE |  | 7954 | 0 | 0 |
| John Hancock | MULTIFACTOR MI | 47804J206 |  | 476 | 10221 | SH |  | SOLE |  | 10221 | 0 | 0 |
| SPDR State Street Global Advisors | PORTFOLIO SH TSR | 78468R101 |  | 211 | 7314 | SH |  | SOLE |  | 7314 | 0 | 0 |
| PIMCO | 15+ YR US TIPS | 72201R304 |  | 5908 | 101442 | SH |  | SOLE |  | 101442 | 0 | 0 |
| SPDR State Street Global Advisors | PORTFOLIO S | 78464A854 |  | 1126 | 25028 | SH |  | SOLE |  | 25028 | 0 | 0 |
| WisdomTree | US LARGECAP FUND | 97717W588 |  | 1212 | 29156 | SH |  | SOLE |  | 29156 | 0 | 0 |
| SPDR State Street Global Advisors | SPDR S 500 ETF | 78468R796 |  | 63924 | 684779 | SH |  | SOLE |  | 684779 | 0 | 0 |
| WisdomTree | YIELD ENHANCD US | 97717X511 |  | 808 | 18952 | SH |  | SOLE |  | 18952 | 0 | 0 |
| First Trust | RISNG DIVD ACHIV | 33738R506 |  | 861 | 19603 | SH |  | SOLE |  | 19603 | 0 | 0 |
| iShares | ESG AW MSCI EAFE | 46435G516 |  | 233239 | 3547907 | SH |  | SOLE |  | 3547907 | 0 | 0 |
| iShares | CRE U S REIT ETF | 464288521 |  | 205 | 4153 | SH |  | SOLE |  | 4153 | 0 | 0 |
| First Trust Exchange-Traded Fund VIII | TCW OPPORTUNIS | 33740F805 |  | 2048 | 46630 | SH |  | SOLE |  | 46630 | 0 | 0 |
| EA Series Trust | US QUAN VALUE | 02072L102 |  | 511 | 15887 | SH |  | SOLE |  | 15887 | 0 | 0 |
| EA Series Trust | INTL QUAN VALUE | 02072L201 |  | 273 | 12456 | SH |  | SOLE |  | 12456 | 0 | 0 |
| iShares | ESG AWR MSCI EM | 46434G863 |  | 71227 | 2368711 | SH |  | SOLE |  | 2368711 | 0 | 0 |
| SPDR State Street Global Advisors | MSCI EAFE FS ETF | 78470E106 |  | 38557 | 566853 | SH |  | SOLE |  | 566853 | 0 | 0 |
| iShares | CORE MSCI INTL | 46435G326 |  | 5355 | 95659 | SH |  | SOLE |  | 95659 | 0 | 0 |
| EA Series Trust | INTL QUAN MOMNTM | 02072L300 |  | 242 | 9733 | SH |  | SOLE |  | 9733 | 0 | 0 |
| iShares | MSCI INTL QUALTY | 46434V456 |  | 681 | 21021 | SH |  | SOLE |  | 21021 | 0 | 0 |
| iShares | MSCI INTL MOMENT | 46434V449 |  | 900 | 29185 | SH |  | SOLE |  | 29185 | 0 | 0 |
| Ark ETF Trust | NEXT GNRTN INTER | 00214Q401 |  | 681 | 17677 | SH |  | SOLE |  | 17677 | 0 | 0 |
| Ark ETF Trust | INNOVATION ETF | 00214Q104 |  | 642 | 20547 | SH |  | SOLE |  | 20547 | 0 | 0 |
| ProShares | PRIV EQTY-LSTD | 74348A533 |  | 263 | 10066 | SH |  | SOLE |  | 10066 | 0 | 0 |
| iShares | FALN ANGLS USD | 46435G474 |  | 5612 | 228046 | SH |  | SOLE |  | 228046 | 0 | 0 |
| Pacer | US CASH COWS 100 | 69374H881 |  | 342 | 7394 | SH |  | SOLE |  | 7394 | 0 | 0 |
| SPDR State Street Global Advisors | SPDR S | 78464A128 |  | 272 | 1944 | SH |  | SOLE |  | 1944 | 0 | 0 |
| iShares | ESG AWR MSCI USA | 46435G425 |  | 210254 | 2480876 | SH |  | SOLE |  | 2480876 | 0 | 0 |
| SPDR State Street Global Advisors | MSCI EMR MKT ETF | 78470E205 |  | 22665 | 394938 | SH |  | SOLE |  | 394938 | 0 | 0 |
| WisdomTree | EM EX ST-OWNED | 97717X578 |  | 3262 | 122280 | SH |  | SOLE |  | 122280 | 0 | 0 |
| Goldman Sachs | ACTIVEBETA US | 381430602 |  | 28497 | 521833 | SH |  | SOLE |  | 521833 | 0 | 0 |
| Goldman Sachs | ACCESS INVT GR | 381430479 |  | 10839 | 245179 | SH |  | SOLE |  | 245179 | 0 | 0 |
| XTRACKERS | XTRACK USD HIGH | 233051432 |  | 5124 | 152006 | SH |  | SOLE |  | 152006 | 0 | 0 |
| ISHARES | BROAD USD HIGH | 46435U853 |  | 3012 | 87226 | SH |  | SOLE |  | 87226 | 0 | 0 |
| GraniteShares | BBG COMMD K 1 | 38747R108 |  | 7761 | 345077 | SH |  | SOLE |  | 345077 | 0 | 0 |
| SPDR State Street Global Advisors | SPDR GLD MINIS | 98149E303 |  | 1862 | 51446 | SH |  | SOLE |  | 51446 | 0 | 0 |
| JP Morgan | ULTRA SHRT INC | 46641Q837 |  | 195464 | 3899140 | SH |  | SOLE |  | 3899140 | 0 | 0 |
| Goldman Sachs | ACCESS INFLATI | 381430362 |  | 3960 | 81743 | SH |  | SOLE |  | 81743 | 0 | 0 |
| iShares | ESG AWR US AGRGT | 46435U549 |  | 13314 | 284842 | SH |  | SOLE |  | 284842 | 0 | 0 |
| AVANTIS INTL | INTL SMCP VLU | 025072802 |  | 603 | 10890 | SH |  | SOLE |  | 10890 | 0 | 0 |
| Avantis | US SML CP VALU | 025072877 |  | 1142 | 15327 | SH |  | SOLE |  | 15327 | 0 | 0 |
| Goldman Sachs | ACCESS US AGRAT | 38149W101 |  | 23239 | 565558 | SH |  | SOLE |  | 565558 | 0 | 0 |
| Impact Shares | NAACP MINO ETF | 45259A209 |  | 2637 | 99286 | SH |  | SOLE |  | 99286 | 0 | 0 |
| iShares | USD GRN BOND ETF | 46435U440 |  | 40331 | 877329 | SH |  | SOLE |  | 877329 | 0 | 0 |
| Dimensional Fund Advisors | INTL CORE EQT MK | 25434V203 |  | 5915 | 236207 | SH |  | SOLE |  | 236207 | 0 | 0 |
| Dimensional Fund Advisors | EMGR CRE EQT MNG | 25434V302 |  | 2853 | 129962 | SH |  | SOLE |  | 129962 | 0 | 0 |
| Dimensional Fund Advisors | US CORE EQT MKT | 25434V104 |  | 10543 | 390191 | SH |  | SOLE |  | 390191 | 0 | 0 |
| Cambria Funds | GBL REAL EST ETF | 132061813 |  | 1042 | 39769 | SH |  | SOLE |  | 39769 | 0 | 0 |
| Dynamic Beta Investments | IMGP DBI MANAGED | 53700T827 |  | 288 | 9889 | SH |  | SOLE |  | 9889 | 0 | 0 |
| ISHARES | ESG AWRE USD ETF | 46435G193 |  | 9975 | 447310 | SH |  | SOLE |  | 447310 | 0 | 0 |
| iShares | ESG ADV TTL USD | 46436E619 |  | 1980 | 46916 | SH |  | SOLE |  | 46916 | 0 | 0 |
| iShares | ESG AWRE 1 5 YR | 46435G243 |  | 2246 | 94484 | SH |  | SOLE |  | 94484 | 0 | 0 |
| iShares | ESG EAFE ETF | 46436E759 |  | 404 | 7446 | SH |  | SOLE |  | 7446 | 0 | 0 |
| Vanguard | ESG INTL STK ETF | 921910725 |  | 9389 | 190877 | SH |  | SOLE |  | 190877 | 0 | 0 |
| iShares | ESG MSCI USA ETF | 46436E767 |  | 374 | 12184 | SH |  | SOLE |  | 12184 | 0 | 0 |
| BlackRock Fund Advisors | ESG AWARE MSCI | 46435U663 |  | 10197 | 310133 | SH |  | SOLE |  | 310133 | 0 | 0 |
| VANGUARD | ESG US STK ETF | 921910733 |  | 30091 | 456886 | SH |  | SOLE |  | 456886 | 0 | 0 |
| Invesco | NASDAQ 100 ETF | 46138G649 |  | 448 | 4086 | SH |  | SOLE |  | 4086 | 0 | 0 |
| State Street Global Advisors Inc | S KENSHO NEW | 78468R648 |  | 38337 | 972518 | SH |  | SOLE |  | 972518 | 0 | 0 |
| Dimensional | US SMALL CAP ETF | 25434V500 |  | 400 | 7825 | SH |  | SOLE |  | 7825 | 0 | 0 |
| Dimensional | US TARGETED VLU | 25434V609 |  | 526 | 11966 | SH |  | SOLE |  | 11966 | 0 | 0 |
| Dimensional | US EQUITY ETF | 25434V401 |  | 916 | 22007 | SH |  | SOLE |  | 22007 | 0 | 0 |
| Dimensional | US CORE EQUITY 2 | 25434V708 |  | 16594 | 683430 | SH |  | SOLE |  | 683430 | 0 | 0 |
| Invesco Capital Management LLC | RUSL 1000 DYNM | 46138J619 |  | 305 | 7098 | SH |  | SOLE |  | 7098 | 0 | 0 |
| AMERICAN CENTY ETF TR | US EQT ETF | 025072885 |  | 839 | 12338 | SH |  | SOLE |  | 12338 | 0 | 0 |
| 1 GRANITESHARES GOLD TR | SHS BEN INT | 38748G101 |  | 191 | 10586 | SH |  | SOLE |  | 10586 | 0 | 0 |
| iShares | 0-3 MNTH TREASRY | 46436E718 |  | 367 | 3661 | SH |  | SOLE |  | 3661 | 0 | 0 |
| Vanguard | VANGUARD ULTRA | 92203C303 |  | 1649 | 33645 | SH |  | SOLE |  | 33645 | 0 | 0 |
| Innovator Capital Management LLC | US EQTY PWR BUF | 45782C797 |  | 418 | 13906 | SH |  | SOLE |  | 13906 | 0 | 0 |
| Simplify Asset Management Inc | US EQT PLS CNVEX | 82889N103 |  | 254 | 10017 | SH |  | SOLE |  | 10017 | 0 | 0 |
| Innovator Capital Management LLC | US EQTY BUF OCT | 45782C771 |  | 293 | 9236 | SH |  | SOLE |  | 9236 | 0 | 0 |
| Innovator Capital Management LLC | US EQTY PWR BUF | 45782C813 |  | 216 | 7171 | SH |  | SOLE |  | 7171 | 0 | 0 |
| Innovator Capital Management LLC | US EQTY ULTRA B | 45782C821 |  | 636 | 23302 | SH |  | SOLE |  | 23302 | 0 | 0 |
| Engine No 1 | TRANSFRM 500 ETF | 29287L106 |  | 39757 | 899069 | SH |  | SOLE |  | 899069 | 0 | 0 |
| Dimensional Fund Advisors LP | INTERNATNAL VAL | 25434V807 |  | 222 | 7288 | SH |  | SOLE |  | 7288 | 0 | 0 |
| Dimensional Fund Advisors LP | WORLD EX US CORE | 25434V880 |  | 5921 | 274129 | SH |  | SOLE |  | 274129 | 0 | 0 |
| Exchange Traded Concepts LLC | BITWISE CRYPTO | 301505624 |  | 443 | 130772 | SH |  | SOLE |  | 130772 | 0 | 0 |
| Simplify Asset Management Inc | US EQT PLS UPSID | 82889N301 |  | 434 | 16533 | SH |  | SOLE |  | 16533 | 0 | 0 |
| Proshare Capital Management LLC | BITCOIN STRATE | 74347G440 |  | 188 | 18007 | SH |  | SOLE |  | 18007 | 0 | 0 |
| Dimensional Fund Advisors LP | CORE FIXED INCOM | 25434V872 |  | 1741 | 41920 | SH |  | SOLE |  | 41920 | 0 | 0 |
| Dimensional Fund Advisors LP | SHORT DURATION F | 25434V864 |  | 411 | 8927 | SH |  | SOLE |  | 8927 | 0 | 0 |
| Innovator Capital Management LLC | US EQTY ULTRA BU | 45782C565 |  | 253 | 9132 | SH |  | SOLE |  | 9132 | 0 | 0 |
| Dimensional Fund Advisors LP | US REAL ESTATE E | 25434V823 |  | 366 | 17328 | SH |  | SOLE |  | 17328 | 0 | 0 |
| Dimensional Fund Advisors LP | INTL CORE EQUITY | 25434V799 |  | 832 | 37225 | SH |  | SOLE |  | 37225 | 0 | 0 |
| Dimensional Fund Advisors LP | EMERGING MKTS CO | 25434V732 |  | 366 | 16303 | SH |  | SOLE |  | 16303 | 0 | 0 |
| Goldman Sachs Asset Management LP | ACCESS EMNG MKTS | 381430388 |  | 7075 | 177320 | SH |  | SOLE |  | 177320 | 0 | 0 |
| Dimensional Fund Advisors LP | US SMALL CAP VAL | 25434V815 |  | 230 | 9276 | SH |  | SOLE |  | 9276 | 0 | 0 |

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