Belpointe Tactical Income ETF (TBND)

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.

Downloads

Prospectus

SAI

XBRL Files: ATT00001.htm | ATT00002.htm | tbnd-20190607.zip

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

EffectiveDate	FundCusip	EntityName	HoldingName	Ticker	MarketValue%	MarketValue	SharesQuantity	SecurityID	SecuritySedol	SecurityISIN	AssetGroup	CouponRate	Principal
07/09/2020	19423L854	TACTICAL INCOME ETF	CASH AND CASH EQUIVALENTS		9.257074%	3216130.97	3216130.97
07/09/2020	19423L854	TACTICAL INCOME ETF	APPLE INC.	AAPL	1.462146%	507984.84	1332.0000	037833100	2046251	US0378331005	Common Stock	0.000000000	1332.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	DRX DLY 20+	TMF	5.335359%	1853632.38	45002.0000	25459W540	B3W6M88	US25459W5408	Mutual Fund	0.000000000	45002.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	FIRST TRUST NASDAQ TECHNO	TDIV	1.259413%	437550.30	10305.0000	33738R118	B84FTH6	US33738R1187	Mutual Fund	0.000000000	10305.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	GLOBAL X MLP ETF	MLPA	0.395951%	137563.09	5297.0000	37954Y343	BMCJ8P9	US37954Y3430	Mutual Fund	0.000000000	5297.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	HOME DEPOT INC	HD	0.697828%	242442.41	973.0000	437076102	2434209	US4370761029	Common Stock	0.000000000	973.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 20+ YEAR TREASURY	TLT	14.096134%	4897337.10	29762.0000	464287432	2971546	US4642874329	Mutual Fund	0.000000000	29762.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES CORE S&P SMALL-CA	IJR	0.000000%	0.00	0.0000	464287804	2678869	US4642878049	Mutual Fund	0.000000000	0.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES EDGE MSCI MIN ETF	USMV	5.733047%	1991798.90	32599.0000	46429B697	B74T2B6	US46429B6974	Mutual Fund	0.000000000	32599.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES EDGE MSCI USA QUA	QUAL	2.130086%	740043.20	7570.0000	46432F339	BCDL393	US46432F3394	Mutual Fund	0.000000000	7570.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	JPMORGAN ALERIAN MLP INDE	AMJ	0.395266%	137325.12	10796.0000	46625H365	B3SRKZ8	US46625H3654	Mutual Fund	0.000000000	10796.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	MICROSOFT CORP	MSFT	1.435308%	498660.69	2343.0000	594918104	2588173	US5949181045	Common Stock	0.000000000	2343.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSH ULTRAPRO SHORT S&P	SPXU	0.553132%	192171.26	17582.0000	74347B268	BF10898	US74347B2685	Mutual Fund	0.000000000	17582.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRAPRO SHORT	SDOW US	0.598649%	207984.96	8992.0000	74347G309	BKDLHG4	US74347G3092	Mutual Fund	0.000000000	8992.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRAPRO SHORT	SQQQ	0.573349%	199195.20	30740.0000	74347G408	BJX9R83	US74347G4082	Mutual Fund	0.000000000	30740.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRAPRO DOW30	UDOW	2.403235%	834941.77	12871.0000	74347X823	B62LJ83	US74347X8231	Mutual Fund	0.000000000	12871.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRAPRO QQQ	TQQQ	2.609316%	906539.28	8031.0000	74347X831	B6493J4	US74347X8314	Mutual Fund	0.000000000	8031.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRAPRO S&P500	UPRO	2.426692%	843091.20	17712.0000	74347X864	B61DFQ0	US74347X8645	Mutual Fund	0.000000000	17712.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	PROSHARES S&P 500 DIVIDEN	NOBL	3.430087%	1191695.12	17587.0000	74348A467	BFN8PY4	US74348A4673	Mutual Fund	0.000000000	17587.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	S&P GLOBAL INC	SPGI	0.739390%	256882.00	725.0000	78409V104	BYV2325	US78409V1044	Common Stock	0.000000000	725.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	SPDR S&P 500 ETF TRUST	SPY	4.269135%	1483200.38	4691.0000	78462F103	2840215	US78462F1030	Mutual Fund	0.000000000	4691.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	SPDR GOLD SHARES	GLD	3.513187%	1220565.84	7176.0000	78463V107	B046RT1	US78463V1070	Mutual Fund	0.000000000	7176.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	SPDR BLOOMBERG BARCLAYS C	CWB	2.299330%	798842.88	12672.0000	78464A359	B3Z44V6	US78464A3591	Mutual Fund	0.000000000	12672.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	SCHWAB US DIVIDEND EQUITY	SCHD US	1.697177%	589640.32	11456.0000	808524797	B5MPY72	US8085247976	Mutual Fund	0.000000000	11456.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	CONSUMER STAPLES ETF	XLP	5.290407%	1838015.01	30803.0000	81369Y308	2369389	US81369Y3080	Mutual Fund	0.000000000	30803.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	CONSUMER DISCRETION ETF	XLY	2.824011%	981129.71	7439.0000	81369Y407	2424341	US81369Y4070	Mutual Fund	0.000000000	7439.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ENERGY SELECT SECTOR SPDR	XLE	0.655202%	227633.09	6283.0000	81369Y506	2402466	US81369Y5069	Mutual Fund	0.000000000	6283.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	TECHNOLOGY SELECT SECTOR	XLK	1.137896%	395332.40	3670.0000	81369Y803	2369709	US81369Y8030	Mutual Fund	0.000000000	3670.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	VANECK VECTORS GOLD MINER	GDX US	2.317925%	805303.20	20670.0000	92189F106	BZ6C4J1	US92189F1066	Mutual Fund	0.000000000	20670.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	VANECK VECTORS FALLEN ANG	ANGL	2.238534%	777720.80	26855.0000	92189F437	BZ6C532	US92189F4375	Mutual Fund	0.000000000	26855.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	VANGUARD DIVID ETF	VIG	4.190633%	1455926.94	12246.0000	921908844	B13V1N6	US9219088443	Mutual Fund	0.000000000	12246.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	VANGUARD HIGH DIVIDEND YI	VYM	0.238061%	82708.16	1048.0000	921946406	B1HLJ94	US9219464065	Mutual Fund	0.000000000	1048.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	VANGUARD GLBL EX-US	VNQI	0.347891%	120865.84	2489.0000	922042676	B5WK187	US9220426764	Mutual Fund	0.000000000	2489.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	2.184774%	759043.13	8768.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	8768.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	-2.184130%	-758819.42	-8768.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	-8768.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	14.676508%	5098973.00	58900.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	58900.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	-12.539942%	-4356678.49	-50344.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	-50344.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	12.543827%	4358028.36	50344.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	50344.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	1.388155%	482278.68	5571.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	5571.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	2.292293%	796398.00	9200.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	9200.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	-6.027860%	-2094224.13	-24200.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	-24200.0000
07/09/2020	19423L854	TACTICAL INCOME ETF	HEALTH CARE SELECT SECTOR	XLV	1.115523%	387559.75	3788.0000	81369Y209	2371823	US81369Y2090	Mutual Fund	0.000000000	3788.0000

Tactical Income ETF - NAV

Group	Fund	Basis	Class	Class Name	Fund Name	TA #	Net Assets	Net Shares	Current NAV	Prior NAV	NAV Change	NAV Change %	CUSIP
NAV Change %	CUSIP	Collaborative	2200	N/A	01	ETF	Tactical Income ETF	22000	30,530,627.770	1,300,000.00	23.4851	23.4142	0.0709

Tactical Income ETF

Ticker	Fund Name	RateDate	NAV	Close Price	Mean Price	Premium Discount %	Volume
TBND	Tactical Income ETF	7/8/2020	23.4851	23.4974	23.5000	0.0524	220

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For more complete information on download and view a prospectus or summary prospectus now or call (855) 510-1763 for a free prospectus or summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing. Investing involves risk, including loss of principal. There is no guarantee that this, or any investment strategy will succeed. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns. The prospectus should be read carefully before investing.

PRINCIPAL RISKS: As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.

Credit Risk: There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s financial condition changes. The issuer of a fixed income security may also default on its obligations.

Fixed Income Risk: When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities.

Foreign Securities Risk: Because the Fund’s investments may include foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies.

High Yield Risk: Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default.

Master Limited Partnership Risk: Investments in MLPs and MLP-related securities involve risks different from those of investing in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security, risks related to potential conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, dilution risks (which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised) and risks related to the general partner’s limited call right. MLPs and MLP-related securities are generally considered interest-rate sensitive investments.

REIT Risk: The Fund will have investment exposure to REITs. The value of the Fund’s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs.

Distributed by Foreside Fund Services, LLC. Three Canal Plaza, Suite 100, Portland, ME 04101.