Dravo Bay 13F-HR Quarterly holdings report by institutional manager

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

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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
Schwab US Large-Cap ETF	US LRG CAP ETF	808524201	21,559	460,458	SH		SOLE		0	0	460,458
Vanguard FTSE Developed Markets ETF	VAN FTSE DEV MKT	921943858	19,699	475,697	SH		SOLE		0	0	475,697
Vanguard Total Bond Market ETF	TOTAL BND MRKT	921937835	12,351	161,491	SH		SOLE		0	0	161,491
iShares National Muni Bond ETF	NATIONAL MUN ETF	464288414	5,468	50,647	SH		SOLE		0	0	50,647
Vanguard Growth ETF	GROWTH ETF	922908736	5,346	22,289	SH		SOLE		0	0	22,289
Vanguard FTSE Emerging Markets ETF	FTSE EMR MKT ETF	922042858	5,164	126,626	SH		SOLE		0	0	126,626
Schwab US Small-Cap ETF	US SML CAP ETF	808524607	4,998	121,071	SH		SOLE		0	0	121,071
Vanguard Value ETF	VALUE ETF	922908744	4,630	34,483	SH		SOLE		0	0	34,483
Xtrackers USD High Yield Corporate Bond ETF	XTRACK USD HIGH	233051432	3,469	98,521	SH		SOLE		0	0	98,521
Invesco S&P 500 Equal Weight ETF	S&P500 EQL WGT	46137V357	3,295	23,482	SH		SOLE		0	0	23,482
iShares Core MSCI EAFE ETF	CORE MSCI EAFE	46432F842	3,129	52,262	SH		SOLE		0	0	52,262
Vanguard Short-Term Inflation-Protected Securities ETF	STRM INFPROIDX	922020805	2,157	43,289	SH		SOLE		0	0	43,289
iShares JP Morgan USD Emerging Markets Bond ETF	JPMORGAN USD EMG	464288281	2,068	24,048	SH		SOLE		0	0	24,048
VanEck High Yield Muni ETF	HIGH YLD MUNIETF	92189H409	2,048	37,558	SH		SOLE		0	0	37,558
Schwab U.S. Large-Cap Value ETF	US LCAP VA ETF	808524409	2,044	31,790	SH		SOLE		0	0	31,790
VanEck J. P. Morgan EM Local Currency Bond ETF	JP MRGAN EM LOC	92189H300	2,024	84,987	SH		SOLE		0	0	84,987
Schwab U.S. Large-Cap Growth ETF	US LCAP GR ETF	808524300	1,820	29,266	SH		SOLE		0	0	29,266
Vanguard Tax-Exempt Bond Index ETF	TAX EXEMPT BD	922907746	1,813	35,716	SH		SOLE		0	0	35,716
iShares MSCI USA Min Vol Factor ETF	MSCI USA MIN VOL	46429B697	1,440	20,080	SH		SOLE		0	0	20,080
iShares MSCI Global Min Vol Factor ETF	MSCI GBL MIN VOL	464286525	1,355	14,171	SH		SOLE		0	0	14,171
iShares Core MSCI Emerging Markets ETF	CORE MSCI EMKT	46434G103	1,222	25,313	SH		SOLE		0	0	25,313
Schwab Short-Term U.S. Treasury ETF	SHT TM US TRES	808524862	1,149	23,323	SH		SOLE		0	0	23,323
Vanguard Small-Cap Growth ETF	SML CP GRW ETF	922908595	1,082	5,108	SH		SOLE		0	0	5,108
Vanguard Small-Cap Value ETF	SM CP VAL ETF	922908611	1,029	6,551	SH		SOLE		0	0	6,551
iShares Short-Term National Muni Bond ETF	SHRT NAT MUN ETF	464288158	960	9,113	SH		SOLE		0	0	9,113
SPDR Nuveen S&P High Yield Municipal Bond ETF	NUVEEN BLOOMBERG	78464A284	809	15,462	SH		SOLE		0	0	15,462
iShares Russell 2000 Value ETF	RUS 2000 VAL ETF	464287630	715	4,997	SH		SOLE		0	0	4,997
iShares Russell 2000 Growth ETF	RUS 2000 GRW ETF	464287648	588	2,673	SH		SOLE		0	0	2,673
PepsiCo Inc	COM	713448108	479	2,825	SH		SOLE		0	0	2,825
McDonald's Corp	COM	580135101	456	1,794	SH		SOLE		0	0	1,794
Apple Inc	COM	037833100	397	2,576	SH		SOLE		0	0	2,576
Visa Inc	COM CL A	92826C839	395	1,847	SH		SOLE		0	0	1,847
Invesco Senior Loan ETF	SR LN ETF	46138G508	380	18,150	SH		SOLE		0	0	18,150
Vanguard Emerging Markets Government Bond ETF	EM MK GOV BD ETF	921946885	342	5,521	SH		SOLE		0	0	5,521
SPDR Bloomberg Emerging Markets Local Bond ETF	BLOOMBERG EMERGI	78464A391	336	16,678	SH		SOLE		0	0	16,678
Invesco S&P 500 Low Volatility ETF	S&P500 LOW VOL	46138E354	289	4,662	SH		SOLE		0	0	4,662
Vanguard High Dividend Yield ETF	HIGH DIV YLD	921946406	289	2,802	SH		SOLE		0	0	2,802
iShares MSCI EAFE Min Vol Factor ETF	MSCI EAFE MIN VL	46429B689	286	4,459	SH		SOLE		0	0	4,459