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
06/01/202019423L854TACTICAL INCOME ETFCASH AND CASH EQUIVALENTS7.632435%2502133.952502133.95
06/01/202019423L854TACTICAL INCOME ETFABBOTT LABORATORIESABT0.000000%0.000.00000028241002002305US0028241000Common Stock0.0000000000.0000
06/01/202019423L854TACTICAL INCOME ETFAPPLE INC.AAPL0.996020%326524.381027.00000378331002046251US0378331005Common Stock0.0000000001027.0000
06/01/202019423L854TACTICAL INCOME ETFCORESITE REALTY CORPCOR1.049339%344003.922756.000021870Q105B3T3VV8US21870Q1058Common Stock0.0000000002756.0000
06/01/202019423L854TACTICAL INCOME ETFVELOCITYSHARES 3X LONGUGLD3.413463%1119032.395923.000022542D316BF7NL92US22542D3162Mutual Fund0.0000000005923.0000
06/01/202019423L854TACTICAL INCOME ETFCYRUSONE INCCONE1.047425%343376.464619.000023283R100B7YRLH9US23283R1005Common Stock0.0000000004619.0000
06/01/202019423L854TACTICAL INCOME ETFDRX DLY 20+TMF6.783770%2223916.9254993.000025459W540B3W6M88US25459W5408Mutual Fund0.00000000054993.0000
06/01/202019423L854TACTICAL INCOME ETFDRX DLY REAL ESTATEDRV0.812623%266401.2814407.000025460E141BJFCS54US25460E1414Mutual Fund0.00000000014407.0000
06/01/202019423L854TACTICAL INCOME ETFFIRST TRUST UTILITIES ALPFXU4.006717%1313518.2848079.000033734X184B1X3024US33734X1845Mutual Fund0.00000000048079.0000
06/01/202019423L854TACTICAL INCOME ETFFIRST TRUST NASDAQ TECHNOTDIV4.573949%1499473.5037254.000033738R118B84FTH6US33738R1187Mutual Fund0.00000000037254.0000
06/01/202019423L854TACTICAL INCOME ETFGLOBAL X NASDAQ-100 COVERQYLD1.968205%645234.7231216.000037954Y483BJ16T46US37954Y4834Mutual Fund0.00000000031216.0000
06/01/202019423L854TACTICAL INCOME ETFHOME DEPOT INCHD0.000000%0.000.00004370761022434209US4370761029Common Stock0.0000000000.0000
06/01/202019423L854TACTICAL INCOME ETFINTERCONTINENTAL EXCHANGEICE0.995552%326371.003356.000045866F104BFSSDS9US45866F1049Common Stock0.0000000003356.0000
06/01/202019423L854TACTICAL INCOME ETFISHARES 1-3 YEAR ETFSHY9.807203%3215086.0037100.00004642874572971524US4642874576Mutual Fund0.00000000037100.0000
06/01/202019423L854TACTICAL INCOME ETFISHARES EDGE MSCI MIN ETFUSMV4.166218%1365807.3022165.000046429B697B74T2B6US46429B6974Mutual Fund0.00000000022165.0000
06/01/202019423L854TACTICAL INCOME ETFJOHNSON & JOHNSONJNJ0.964203%316093.752125.00004781601042475833US4781601046Common Stock0.0000000002125.0000
06/01/202019423L854TACTICAL INCOME ETFKINDER MORGAN INC.KMI0.000000%0.000.000049456B101B3NQ4P8US49456B1017Common Stock0.0000000000.0000
06/01/202019423L854TACTICAL INCOME ETFMAGELLAN MIDSTREAMMMP0.000000%0.000.00005590801062723037US5590801065Common Stock0.0000000000.0000
06/01/202019423L854TACTICAL INCOME ETFPROSHARES SHORT HYSJB3.685985%1208373.0057900.000074347R131B3WM9Q3US74347R1317Mutual Fund0.00000000057900.0000
06/01/202019423L854TACTICAL INCOME ETFPROSHARES S&P 500 DIVIDENNOBL4.589881%1504696.2022485.000074348A467BFN8PY4US74348A4673Mutual Fund0.00000000022485.0000
06/01/202019423L854TACTICAL INCOME ETFQTS REALTY TRUSTQTS1.053601%345401.005035.000074736A103BDSV8H8US74736A1034Common Stock0.0000000005035.0000
06/01/202019423L854TACTICAL INCOME ETFSPDR S&P 500 ETF TRUSTSPY9.638422%3159754.5610383.000078462F1032840215US78462F1030Mutual Fund0.00000000010383.0000
06/01/202019423L854TACTICAL INCOME ETFSPDR BLOOMBERG BARCLAYS CCWB2.972126%974349.3617148.000078464A359B3Z44V6US78464A3591Mutual Fund0.00000000017148.0000
06/01/202019423L854TACTICAL INCOME ETFVANECK VECTORS FALLEN ANGANGL5.902749%1935092.4268669.000092189F437BZ6C532US92189F4375Mutual Fund0.00000000068669.0000
06/01/202019423L854TACTICAL INCOME ETFVANGUARD DIVID ETFVIG11.849450%3884593.8333007.0000921908844B13V1N6US9219088443Mutual Fund0.00000000033007.0000
06/01/202019423L854TACTICAL INCOME ETFVANGUARD GLBL EX-USVNQI8.420661%2760537.1860366.0000922042676B5WK187US9220426764Mutual Fund0.00000000060366.0000
06/01/202019423L854TACTICAL INCOME ETFBROOKFIELD PROPERTY PARTNBPY0.940313%308261.8029755.0000G16249107B9MSZT8BMG162491077Other Security0.00000000029755.0000
06/01/202019423L854TACTICAL INCOME ETFDIGITAL REALTY TRUST INCDLR US0.975834%319906.732235.0000253868103B03GQS4US2538681030Common Stock0.0000000002235.0000
06/01/202019423L854TACTICAL INCOME ETFENTERPRISE PRODUCTSEPD0.741638%243130.4012640.00002937921072285388US2937921078Common Stock0.00000000012640.0000
06/01/202019423L854TACTICAL INCOME ETFPROSH ULTRAPRO SHORT S&PSPXU0.506383%166006.9112375.000074347B268BF10898US74347B2685Mutual Fund0.00000000012375.0000
06/01/202019423L854TACTICAL INCOME ETFPROSH ULTRAPRO SHORT S&PSPXU0.505835%165827.4812375.000074347B268BF10898US74347B2685Mutual Fund0.00000000012375.0000

Tactical Income ETF - NAV

GroupFundBasisClassClass NameFund NameTA #Net AssetsNet SharesCurrent NAVPrior NAVNAV ChangeNAV Change %CUSIP
NAV Change %CUSIPCollaborative2200N/A01ETFTactical Income ETF2200032,816,932.3401,425,000.0023.029422.90810.1213

Tactical Income ETF

TickerFund NameRateDateNAVClose PriceMean PricePremium Discount %Volume
TBNDTactical Income ETF5/29/202023.029423.024223.0050-0.0226942