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
09/18/202019423L854TACTICAL INCOME ETFCASH AND CASH EQUIVALENTS3.048260%901404.83901404.83
09/18/202019423L854TACTICAL INCOME ETFALERIAN MLP ETFAMLP1.000509%295861.8013710.000000162Q452BMDWPG7US00162Q4525Mutual Fund0.00000000013710.0000
09/18/202019423L854TACTICAL INCOME ETFAT&T INC.T0.389977%115320.693967.000000206R1022831811US00206R1023Common Stock0.0000000003967.0000
09/18/202019423L854TACTICAL INCOME ETFARCHER-DANIELS-MIDLAND COADM0.589308%174264.963648.00000394831022047317US0394831020Common Stock0.0000000003648.0000
09/18/202019423L854TACTICAL INCOME ETFATMOS ENERGY CORPATO0.389841%115280.281234.00000495601052315359US0495601058Common Stock0.0000000001234.0000
09/18/202019423L854TACTICAL INCOME ETFCAMBRIA TAIL RISK ETFTAIL US0.726074%214708.189883.0000132061862BDG0Z65US1320618622Mutual Fund0.0000000009883.0000
09/18/202019423L854TACTICAL INCOME ETFCATERPILLAR INC.CAT0.578617%171103.441112.00001491231012180201US1491231015Common Stock0.0000000001112.0000
09/18/202019423L854TACTICAL INCOME ETFCOLGATE-PALMOLIVE COCL0.388594%114911.581498.00001941621032209106US1941621039Common Stock0.0000000001498.0000
09/18/202019423L854TACTICAL INCOME ETFGENUINE PARTS COGPC0.585750%173212.831701.0000372460105US3724601055Common Stock0.0000000001701.0000
09/18/202019423L854TACTICAL INCOME ETFINVESCO DB US DOLLAR INDEUUP9.011919%2664925.56106257.000046141D203BZ03TN9US46141D2036Mutual Fund0.000000000106257.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES GOLD TRUSTIAU US7.329349%2167370.92116588.0000464285105B05ND15US4642851053Mutual Fund0.000000000116588.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES TIPS BOND ETFTIP11.917416%3524113.7827841.00004642871762215352US4642871762Mutual Fund0.00000000027841.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES CORE U.S. AGGREGAAGG13.601877%4022227.8833983.00004642872262897404US4642872265Mutual Fund0.00000000033983.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES 20+ YEAR TREASURYTLT3.632150%1074067.686546.00004642874322971546US4642874329Mutual Fund0.0000000006546.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES 7-10YEARIEF6.958315%2057651.8716893.00004642874402971494US4642874402Mutual Fund0.00000000016893.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES MSCI EAFE ETFEFA0.080823%23900.24364.00004642874652801290US4642874659Mutual Fund0.000000000364.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES 3-7 YEAR TREASURYIEI10.450888%3090444.8423139.0000464288661B1MYR72US4642886612Mutual Fund0.00000000023139.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES MSCI USA MIN VOLUSMV0.161500%47757.45741.000046429B697B74T2B6US46429B6974Mutual Fund0.000000000741.0000
09/18/202019423L854TACTICAL INCOME ETFISHARES EDGE MSCI USA VALVLUE0.081375%24063.47317.000046432F388B8PLRM4US46432F3881Mutual Fund0.000000000317.0000
09/18/202019423L854TACTICAL INCOME ETFJOHNSON & JOHNSONJNJ0.387196%114498.26778.00004781601042475833US4781601046Common Stock0.000000000778.0000
09/18/202019423L854TACTICAL INCOME ETFQUADRATIC INTEREST RATE VIVOL US1.928861%570385.8020817.0000500767736BK6NJS3US5007677363Mutual Fund0.00000000020817.0000
09/18/202019423L854TACTICAL INCOME ETFLEGGETT & PLATT INCLEG0.583293%172486.273839.00005246601072510682US5246601075Common Stock0.0000000003839.0000
09/18/202019423L854TACTICAL INCOME ETFMCDONALD'S CORP.MCD0.590112%174502.72784.0000580135101US5801351017Common Stock0.000000000784.0000
09/18/202019423L854TACTICAL INCOME ETFPEPSICO INC.PEP0.381522%112820.40847.0000713448108US7134481081Common Stock0.000000000847.0000
09/18/202019423L854TACTICAL INCOME ETFPROSHARES RUSSELL 2000 DISMDV US2.940377%869502.6017891.000074347B698BVVT6P9US74347B6983Mutual Fund0.00000000017891.0000
09/18/202019423L854TACTICAL INCOME ETFPROSHARES ULTRA GOLDUGL US0.973418%287850.553919.000074347W601B3K8TN0US74347W6012Mutual Fund0.0000000003919.0000
09/18/202019423L854TACTICAL INCOME ETFHEALTH CARE SELECT SECTORXLV0.161564%47776.40452.000081369Y2092371823US81369Y2090Mutual Fund0.000000000452.0000
09/18/202019423L854TACTICAL INCOME ETFENERGY SELECT SECTOR SPDRXLE0.166208%49149.541446.000081369Y5062402466US81369Y5069Mutual Fund0.0000000001446.0000
09/18/202019423L854TACTICAL INCOME ETFUTILITIES SELECT ETFXLU0.252412%74641.211253.000081369Y8862371812US81369Y8865Mutual Fund0.0000000001253.0000
09/18/202019423L854TACTICAL INCOME ETFVANECK VECTORS FALLEN ANGANGL7.183055%2124109.9570545.000092189F437BZ6C532US92189F4375Mutual Fund0.00000000070545.0000
09/18/202019423L854TACTICAL INCOME ETFVANECK VECTORS AGRIBUSINEMOO1.494200%441851.766426.000092189F700BZ6C4L3US92189F7006Mutual Fund0.0000000006426.0000
09/18/202019423L854TACTICAL INCOME ETFVANGUARD INTERNATIONAL DIVIGI US11.780649%3483670.2647217.0000921946810BD97XF8US9219468108Mutual Fund0.00000000047217.0000
09/18/202019423L854TACTICAL INCOME ETFVANGUARD REAL ESTATE ETFVNQ0.254590%75285.18918.0000922908553B031NY4US9229085538Mutual Fund0.000000000918.0000

Tactical Income ETF - NAV

GroupFundBasisClassClass NameFund NameTA #Net AssetsNet SharesCurrent NAVPrior NAVNAV ChangeNAV Change %CUSIP
NAV Change %CUSIPCollaborative2200N/A01ETFTactical Income ETF2200029,568,596.2601,225,000.0024.137624.15710.0195

Tactical Income ETF

TickerFund NameRateDateNAVClose PriceMean PricePremium Discount %Volume
TBNDTactical Income ETF9/17/202024.137624.150924.15000.05512010