Tactical Income ETF

Fund Objective

The Fund seeks to provide total return.

Principal Investment Strategy

In pursuing the Fund’s investment objective, the Fund will invest in exchange-traded funds (“ETFs”) that primarily invest in fixed income securities, real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), dividend paying equity stocks including utility stocks, and exchange-traded notes (“ETNs”). Fixed Income ETFs will include those that invest in domestic and foreign fixed income securities of any credit rating maturity and duration. Such fixed income securities will include high yield bonds (commonly known as “junk bonds”). The Fund considers high yield bonds to be those that are rated lower than Baa3 by Moody’s Investors Service or lower than BBB- by Standard & Poor’s rating group. High yield bonds have a higher expected rate of default than investment grade bonds.

Fund Management

Investment Advisor:  Belpointe Asset Management, LLC
Sub Advisor: Tuttle Tactical Management, LLC

Shareholder Fees

Maximum Sales Charge (Load) Imposed on Purchases None
Maximum Deferred Sales Charge (Load) None
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions None
Redemption Fee None


Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Management Fee .84%
Distribution and/or Service (12b-1) Fees 0.00%
Other Expenses .53%
Acquired Fund Fees and Expenses .79%
Total Annual Fund Operating Expenses 2.16%
Fee Waiver and/or Expense Reimbursement .07%
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement 2.23%

The fund advisor has contractually ageed to reduce its fees and/or absorb expenses of the fund, through at least June 30, 2020, to ensure that Total Annual Fund Operating Expenses After Fee Waiver and/or Reimbursement will not exceed 1.59%.

Tactical Income ETF - Holdings

EffectiveDateFundCusipEntityNameHoldingNameTickerMarketValue%MarketValueSharesQuantitySecurityIDSecuritySedolSecurityISINAssetGroupCouponRateMaturityDatePrincipal
10/19/202019423L854TACTICAL INCOME ETFCASH AND CASH EQUIVALENTS2.465773%709426.35709426.35
10/19/202019423L854TACTICAL INCOME ETFAT&T INC.T0.850175%244603.508950.000000206R1022831811US00206R1023Common Stock0.0000000008950.0000
10/19/202019423L854TACTICAL INCOME ETFABBVIE INC.ABBV0.866570%249320.302890.000000287Y109B92SR70US00287Y1091Common Stock0.0000000002890.0000
10/19/202019423L854TACTICAL INCOME ETFATMOS ENERGY CORPATO0.862435%248130.742626.00000495601052315359US0495601058Common Stock0.0000000002626.0000
10/19/202019423L854TACTICAL INCOME ETFAUTOMATIC DATA PROCESSINGADP0.099047%28496.64192.00000530151032065308US0530151036Common Stock0.000000000192.0000
10/19/202019423L854TACTICAL INCOME ETFCAMBRIA TAIL RISK ETFTAIL US4.919518%1415392.1666388.0000132061862BDG0Z65US1320618622Mutual Fund0.00000000066388.0000
10/19/202019423L854TACTICAL INCOME ETFCONSOLIDATED EDISON INC.ED0.098821%28431.60348.00002091151042216850US2091151041Common Stock0.000000000348.0000
10/19/202019423L854TACTICAL INCOME ETFFIRST TRUST NASDAQ TECHNOTDIV2.439646%701909.3215386.000033738R118B84FTH6US33738R1187Mutual Fund0.00000000015386.0000
10/19/202019423L854TACTICAL INCOME ETFGRAINGER W.W. INC.GWW0.098648%28381.9674.00003848021042380863US3848021040Common Stock0.00000000074.0000
10/19/202019423L854TACTICAL INCOME ETFHORMEL FOODS CORPHRL0.891415%256468.585177.00004404521002437264US4404521001Common Stock0.0000000005177.0000
10/19/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY68.214138%19625856.24227046.00004642874572971524US4642874576Mutual Fund0.000000000227046.0000
10/19/202019423L854TACTICAL INCOME ETFJOHNSON & JOHNSONJNJ0.864274%248659.901679.00004781601042475833US4781601046Common Stock0.0000000001679.0000
10/19/202019423L854TACTICAL INCOME ETFT. ROWE PRICE GROUP INC.TROW0.103229%29700.06202.000074144T1082702337US74144T1088Common Stock0.000000000202.0000
10/19/202019423L854TACTICAL INCOME ETFPROSHARES S&P MIDCAP 400REGL US2.712829%780506.7013785.000074347B680BVVT7L2US74347B6801Mutual Fund0.00000000013785.0000
10/19/202019423L854TACTICAL INCOME ETFPROSHARES RUSSELL 2000 DISMDV US2.321399%667888.5613236.000074347B698BVVT6P9US74347B6983Mutual Fund0.00000000013236.0000
10/19/202019423L854TACTICAL INCOME ETFPROSHARES S&P 500 DIVIDENNOBL2.652147%763048.0010120.000074348A467BFN8PY4US74348A4673Mutual Fund0.00000000010120.0000
10/19/202019423L854TACTICAL INCOME ETFVANGUARD DIVID ETFVIG3.001578%863582.486436.0000921908844B13V1N6US9219088443Mutual Fund0.0000000006436.0000
10/19/202019423L854TACTICAL INCOME ETFVANGUARD INTERNATIONAL DIVIGI US3.202821%921482.1912471.0000921946810BD97XF8US9219468108Mutual Fund0.00000000012471.0000
10/19/202019423L854TACTICAL INCOME ETFWISDOMTREE EMERGING MARKEDEM US3.241973%932746.6026164.000097717W315B23C0J5US97717W3152Mutual Fund0.00000000026164.0000
10/19/202019423L854TACTICAL INCOME ETFBROOKFIELD PROPERTY PARTNBPY0.093564%26919.202090.0000G16249107B9MSZT8BMG162491077Other Security0.0000000002090.0000

Tactical Income ETF - NAV

GroupFundBasisClassClass NameFund NameTA #Net AssetsNet SharesCurrent NAVPrior NAVNAV ChangeNAV Change %CUSIP
NAV Change %CUSIPCollaborative2200N/A01ETFTactical Income ETF2200028,771,252.5001,200,000.0023.976023.96590.0101

Tactical Income ETF

TickerFund NameRateDateNAVClose PriceMean PricePremium Discount %Volume
TBNDTactical Income ETF10/16/202023.976023.982323.97500.02639