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 .57%
Acquired Fund Fees and Expenses .30%
Total Annual Fund Operating Expenses 1.71%
Fee Waiver and/or Expense Reimbursement .12%
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement 1.59%

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
07/09/202019423L854TACTICAL INCOME ETFCASH AND CASH EQUIVALENTS9.257074%3216130.973216130.97
07/09/202019423L854TACTICAL INCOME ETFAPPLE INC.AAPL1.462146%507984.841332.00000378331002046251US0378331005Common Stock0.0000000001332.0000
07/09/202019423L854TACTICAL INCOME ETFDRX DLY 20+TMF5.335359%1853632.3845002.000025459W540B3W6M88US25459W5408Mutual Fund0.00000000045002.0000
07/09/202019423L854TACTICAL INCOME ETFFIRST TRUST NASDAQ TECHNOTDIV1.259413%437550.3010305.000033738R118B84FTH6US33738R1187Mutual Fund0.00000000010305.0000
07/09/202019423L854TACTICAL INCOME ETFGLOBAL X MLP ETFMLPA0.395951%137563.095297.000037954Y343BMCJ8P9US37954Y3430Mutual Fund0.0000000005297.0000
07/09/202019423L854TACTICAL INCOME ETFHOME DEPOT INCHD0.697828%242442.41973.00004370761022434209US4370761029Common Stock0.000000000973.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 20+ YEAR TREASURYTLT14.096134%4897337.1029762.00004642874322971546US4642874329Mutual Fund0.00000000029762.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES CORE S&P SMALL-CAIJR0.000000%0.000.00004642878042678869US4642878049Mutual Fund0.0000000000.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES EDGE MSCI MIN ETFUSMV5.733047%1991798.9032599.000046429B697B74T2B6US46429B6974Mutual Fund0.00000000032599.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES EDGE MSCI USA QUAQUAL2.130086%740043.207570.000046432F339BCDL393US46432F3394Mutual Fund0.0000000007570.0000
07/09/202019423L854TACTICAL INCOME ETFJPMORGAN ALERIAN MLP INDEAMJ0.395266%137325.1210796.000046625H365B3SRKZ8US46625H3654Mutual Fund0.00000000010796.0000
07/09/202019423L854TACTICAL INCOME ETFMICROSOFT CORPMSFT1.435308%498660.692343.00005949181042588173US5949181045Common Stock0.0000000002343.0000
07/09/202019423L854TACTICAL INCOME ETFPROSH ULTRAPRO SHORT S&PSPXU0.553132%192171.2617582.000074347B268BF10898US74347B2685Mutual Fund0.00000000017582.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES ULTRAPRO SHORTSDOW US0.598649%207984.968992.000074347G309BKDLHG4US74347G3092Mutual Fund0.0000000008992.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES ULTRAPRO SHORTSQQQ0.573349%199195.2030740.000074347G408BJX9R83US74347G4082Mutual Fund0.00000000030740.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES ULTRAPRO DOW30UDOW2.403235%834941.7712871.000074347X823B62LJ83US74347X8231Mutual Fund0.00000000012871.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES ULTRAPRO QQQTQQQ2.609316%906539.288031.000074347X831B6493J4US74347X8314Mutual Fund0.0000000008031.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES ULTRAPRO S&P500UPRO2.426692%843091.2017712.000074347X864B61DFQ0US74347X8645Mutual Fund0.00000000017712.0000
07/09/202019423L854TACTICAL INCOME ETFPROSHARES S&P 500 DIVIDENNOBL3.430087%1191695.1217587.000074348A467BFN8PY4US74348A4673Mutual Fund0.00000000017587.0000
07/09/202019423L854TACTICAL INCOME ETFS&P GLOBAL INCSPGI0.739390%256882.00725.000078409V104BYV2325US78409V1044Common Stock0.000000000725.0000
07/09/202019423L854TACTICAL INCOME ETFSPDR S&P 500 ETF TRUSTSPY4.269135%1483200.384691.000078462F1032840215US78462F1030Mutual Fund0.0000000004691.0000
07/09/202019423L854TACTICAL INCOME ETFSPDR GOLD SHARESGLD3.513187%1220565.847176.000078463V107B046RT1US78463V1070Mutual Fund0.0000000007176.0000
07/09/202019423L854TACTICAL INCOME ETFSPDR BLOOMBERG BARCLAYS CCWB2.299330%798842.8812672.000078464A359B3Z44V6US78464A3591Mutual Fund0.00000000012672.0000
07/09/202019423L854TACTICAL INCOME ETFSCHWAB US DIVIDEND EQUITYSCHD US1.697177%589640.3211456.0000808524797B5MPY72US8085247976Mutual Fund0.00000000011456.0000
07/09/202019423L854TACTICAL INCOME ETFCONSUMER STAPLES ETFXLP5.290407%1838015.0130803.000081369Y3082369389US81369Y3080Mutual Fund0.00000000030803.0000
07/09/202019423L854TACTICAL INCOME ETFCONSUMER DISCRETION ETFXLY2.824011%981129.717439.000081369Y4072424341US81369Y4070Mutual Fund0.0000000007439.0000
07/09/202019423L854TACTICAL INCOME ETFENERGY SELECT SECTOR SPDRXLE0.655202%227633.096283.000081369Y5062402466US81369Y5069Mutual Fund0.0000000006283.0000
07/09/202019423L854TACTICAL INCOME ETFTECHNOLOGY SELECT SECTORXLK1.137896%395332.403670.000081369Y8032369709US81369Y8030Mutual Fund0.0000000003670.0000
07/09/202019423L854TACTICAL INCOME ETFVANECK VECTORS GOLD MINERGDX US2.317925%805303.2020670.000092189F106BZ6C4J1US92189F1066Mutual Fund0.00000000020670.0000
07/09/202019423L854TACTICAL INCOME ETFVANECK VECTORS FALLEN ANGANGL2.238534%777720.8026855.000092189F437BZ6C532US92189F4375Mutual Fund0.00000000026855.0000
07/09/202019423L854TACTICAL INCOME ETFVANGUARD DIVID ETFVIG4.190633%1455926.9412246.0000921908844B13V1N6US9219088443Mutual Fund0.00000000012246.0000
07/09/202019423L854TACTICAL INCOME ETFVANGUARD HIGH DIVIDEND YIVYM0.238061%82708.161048.0000921946406B1HLJ94US9219464065Mutual Fund0.0000000001048.0000
07/09/202019423L854TACTICAL INCOME ETFVANGUARD GLBL EX-USVNQI0.347891%120865.842489.0000922042676B5WK187US9220426764Mutual Fund0.0000000002489.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY2.184774%759043.138768.00004642874572971524US4642874576Mutual Fund0.0000000008768.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY-2.184130%-758819.42-8768.00004642874572971524US4642874576Mutual Fund0.000000000-8768.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY14.676508%5098973.0058900.00004642874572971524US4642874576Mutual Fund0.00000000058900.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY-12.539942%-4356678.49-50344.00004642874572971524US4642874576Mutual Fund0.000000000-50344.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY12.543827%4358028.3650344.00004642874572971524US4642874576Mutual Fund0.00000000050344.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY1.388155%482278.685571.00004642874572971524US4642874576Mutual Fund0.0000000005571.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY2.292293%796398.009200.00004642874572971524US4642874576Mutual Fund0.0000000009200.0000
07/09/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY-6.027860%-2094224.13-24200.00004642874572971524US4642874576Mutual Fund0.000000000-24200.0000
07/09/202019423L854TACTICAL INCOME ETFHEALTH CARE SELECT SECTORXLV1.115523%387559.753788.000081369Y2092371823US81369Y2090Mutual Fund0.0000000003788.0000

Tactical Income ETF - NAV

GroupFundBasisClassClass NameFund NameTA #Net AssetsNet SharesCurrent NAVPrior NAVNAV ChangeNAV Change %CUSIP
NAV Change %CUSIPCollaborative2200N/A01ETFTactical Income ETF2200030,530,627.7701,300,000.0023.485123.41420.0709

Tactical Income ETF

TickerFund NameRateDateNAVClose PriceMean PricePremium Discount %Volume
TBNDTactical Income ETF7/8/202023.485123.497423.50000.0524220