TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 11.6% | ||||||||
AEROSPACE & DEFENSE - 0.6% | ||||||||
1,022 | Lockheed Martin Corporation | $ | 352,692 | |||||
ASSET MANAGEMENT - 0.1% | ||||||||
73 | BlackRock, Inc. | 61,222 | ||||||
BANKING - 0.4% | ||||||||
6,517 | Bank OZK | 280,101 | ||||||
BIOTECH & PHARMA - 0.1% | ||||||||
285 | Eli Lilly and Company | 65,849 | ||||||
CHEMICALS - 0.5% | ||||||||
3,176 | Ashland Global Holdings, Inc. | 283,045 | ||||||
222 | Sherwin-Williams Company (The) | 62,100 | ||||||
345,145 | ||||||||
E-COMMERCE DISCRETIONARY - 0.9% | ||||||||
172 | Amazon.com, Inc.(a) | 565,027 | ||||||
HEALTH CARE FACILITIES & SERVICES - 0.4% | ||||||||
706 | UnitedHealth Group, Inc. | 275,863 | ||||||
HOUSEHOLD PRODUCTS - 0.1% | ||||||||
203 | Estee Lauder Companies, Inc. (The), Class A | 60,886 | ||||||
INDUSTRIAL INTERMEDIATE PROD - 0.4% | ||||||||
4,278 | Timken Company (The) | 279,867 | ||||||
INDUSTRIAL SUPPORT SERVICES - 0.3% | ||||||||
2,339 | Applied Industrial Technologies, Inc. | 210,814 | ||||||
INFRASTRUCTURE REIT - 0.3% | ||||||||
799 | American Tower Corporation | 212,063 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 11.6% (Continued) | ||||||||
INSTITUTIONAL FINANCIAL SERVICES - 0.1% | ||||||||
165 | Goldman Sachs Group, Inc. (The) | $ | 62,375 | |||||
INSURANCE - 0.7% | ||||||||
1,338 | Assurant, Inc. | 211,070 | ||||||
775 | Berkshire Hathaway, Inc., Class B(a) | 211,528 | ||||||
422,598 | ||||||||
INTERNET MEDIA & SERVICES - 1.5% | ||||||||
417 | Airbnb, Inc., Class A(a) | 69,952 | ||||||
198 | Alphabet, Inc., Class A(a) | 529,356 | ||||||
981 | Facebook, Inc., Class A(a) | 332,942 | ||||||
932,250 | ||||||||
MACHINERY - 0.7% | ||||||||
1,238 | Middleby Corporation (The)(a) | 211,091 | ||||||
1,407 | Regal Rexnord Corporation | 211,528 | ||||||
422,619 | ||||||||
MEDICAL EQUIPMENT & DEVICES - 0.1% | ||||||||
122 | Thermo Fisher Scientific, Inc. | 69,702 | ||||||
RETAIL - CONSUMER STAPLES - 0.3% | ||||||||
1,525 | Walmart, Inc. | 212,554 | ||||||
RETAIL - DISCRETIONARY - 0.1% | ||||||||
200 | Home Depot, Inc. (The) | 65,652 | ||||||
SEMICONDUCTORS - 0.8% | ||||||||
1,384 | Microchip Technology, Inc. | 212,430 | ||||||
1,320 | NVIDIA Corporation | 273,451 | ||||||
485,881 | ||||||||
SOFTWARE - 1.3% | ||||||||
2,738 | Microsoft Corporation | 771,898 | ||||||
TECHNOLOGY HARDWARE - 1.0% | ||||||||
4,448 | Apple, Inc. | 629,392 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 11.6% (Continued) | ||||||||
TECHNOLOGY SERVICES - 0.8% | ||||||||
199 | Accenture plc, Class A | $ | 63,664 | |||||
241 | PayPal Holdings, Inc.(a) | 62,711 | ||||||
1,824 | Visa, Inc., Class A | 406,296 | ||||||
532,671 | ||||||||
TRANSPORTATION & LOGISTICS - 0.1% | ||||||||
389 | J.B. Hunt Transport Services, Inc. | 65,049 | ||||||
TOTAL COMMON STOCKS (Cost $6,878,010) | 7,382,170 | |||||||
Shares | Fair Value | |||||||
EQUITY FUNDS — 0.1% | ||||||||
LARGE-CAP CORE - 0.1% | ||||||||
456 | iShares MSCI USA Momentum Factor ETF | 80,074 | ||||||
TOTAL EQUITY FUNDS (Cost $80,712) | 80,074 | |||||||
Shares | Fair Value | |||||||
EQUITY SECURITIES — 0.1% | ||||||||
EXCHANGE-TRADED FUNDS (ETF’S) - 0.1% | ||||||||
1,303 | Invesco S&P 500 Equal Weight Energy Portfolio | 58,804 | ||||||
TOTAL EQUITY SECURITIES (Cost $59,331) | 58,804 | |||||||
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 78.4% | ||||||||
ALTERNATIVE - 0.4% | ||||||||
5,446 | First Trust ETF III-First Trust Long/Short Equity(a),(b) | 263,314 | ||||||
EQUITY - 45.7% | ||||||||
1,026 | Avantis U.S. Small Cap Value ETF | 77,576 | ||||||
4,787 | Communication Services Select Sector SPDR Fund | 383,487 | ||||||
811 | Consumer Discretionary Select Sector SPDR Fund | 145,534 | ||||||
4,972 | Financial Select Sector SPDR Fund | 186,599 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 78.4% (Continued) | ||||||||
EQUITY - 45.7% (Continued) | ||||||||
5,122 | First Trust Energy AlphaDEX Fund | $ | 58,801 | |||||
869 | First Trust Nasdaq Semiconductor ETF | 58,666 | ||||||
1,389 | Health Care Select Sector SPDR Fund | 176,820 | ||||||
1,052 | Industrial Select Sector SPDR Fund | 102,928 | ||||||
2,761 | Inspire Faithward Large Cap Momentum ESG ETF(a) | 77,958 | ||||||
2,690 | Inspire Faithward Mid Cap Momentum ESG ETF | 79,437 | ||||||
13,840 | Invesco DB Commodity Index Tracking Fund(b) | 279,291 | ||||||
889 | Invesco DWA SmallCap Momentum ETF | 77,974 | ||||||
2,210 | Invesco S&P International Developed Momentum ETF | 77,896 | ||||||
4,186 | iShares Core MSCI Emerging Markets ETF | 258,527 | ||||||
1,213 | iShares MSCI India ETF | 59,061 | ||||||
10,476 | iShares S&P 500 Growth ETF | 774,281 | ||||||
6,229 | iShares Semiconductor ETF | 2,777,324 | ||||||
79,385 | ProShares Ultra QQQ | 5,776,846 | ||||||
36,867 | ProShares Ultra S&P500 | 4,417,404 | ||||||
5,000 | SPDR Dow Jones Global Real Estate ETF | 255,300 | ||||||
2,000 | SPDR S&P 500 ETF Trust | 858,280 | ||||||
3,279 | Technology Select Sector SPDR Fund | 489,620 | ||||||
247 | VanEck Semiconductor ETF | 63,299 | ||||||
19,844 | Vanguard FTSE All-World ex-US ETF(b) | 1,209,690 | ||||||
15,289 | Vanguard FTSE Developed Markets ETF | 771,942 | ||||||
11,303 | Vanguard FTSE Emerging Markets ETF(b) | 565,263 | ||||||
2,054 | Vanguard Growth ETF(b) | 596,009 | ||||||
2,983 | Vanguard Large-Cap ETF(b) | 599,344 | ||||||
3,646 | Vanguard Mid-Cap ETF(b) | 863,227 | ||||||
4,724 | Vanguard Russell 2000 ETF(b) | 417,649 | ||||||
25,881 | Vanguard Total Stock Market ETF(b) | 5,747,135 | ||||||
4,649 | Vanguard Value ETF(b) | 629,335 | ||||||
28,912,503 | ||||||||
FIXED INCOME - 24.7% | ||||||||
3,945 | First Trust Enhanced Short Maturity ETF | 236,483 | ||||||
3,509 | First Trust ETF IV - SSI Strategic Convertible Securities ETF | 178,187 | ||||||
8,633 | First Trust Preferred Securities and Income ETF | 177,322 | ||||||
3,700 | First Trust Senior Loan ETF | 177,045 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||||||
EXCHANGE-TRADED FUNDS — 78.4% (Continued) | ||||||||||||
FIXED INCOME - 24.7% (Continued) | ||||||||||||
56,261 | iShares 1-5 Year Investment Grade Corporate Bond ETF(b) | $ | 3,074,101 | |||||||||
6,992 | iShares Core U.S. Aggregate Bond ETF | 802,891 | ||||||||||
5,230 | iShares TIPS Bond ETF | 667,819 | ||||||||||
19,500 | JPMorgan Ultra-Short Income ETF | 989,040 | ||||||||||
72,000 | PGIM Ultra Short Bond ETF(a),(b) | 3,576,960 | ||||||||||
42,509 | ProShares Short 20+ Year Treasury | 709,050 | ||||||||||
7,018 | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 641,866 | ||||||||||
7,797 | SPDR Bloomberg Barclays Convertible Securities ETF | 665,474 | ||||||||||
5,364 | VanEck Fallen Angel High Yield Bond ETF | 177,280 | ||||||||||
41,400 | Vanguard Short-Term Corporate Bond ETF | 3,411,774 | ||||||||||
2,495 | Vanguard Total Bond Market ETF(b) | 213,198 | ||||||||||
15,698,490 | ||||||||||||
MIXED ALLOCATION - 7.6% | ||||||||||||
56,700 | HCM Defender 100 Index ETF(a) | 2,755,053 | ||||||||||
50,956 | HCM Defender 500 Index ETF(a) | 2,041,807 | ||||||||||
4,796,860 | ||||||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $50,838,083) | 49,671,167 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 0.8% | ||||||||||||
BANKING — 0.5% | ||||||||||||
300,000 | HSBC Holdings PLC | 2.6000 | 01/05/22 | 301,848 | ||||||||
SPECIALTY FINANCE — 0.3% | ||||||||||||
200,000 | American Express Company | 3.7000 | 11/05/21 | 200,019 | ||||||||
TOTAL CORPORATE BONDS (Cost $500,584) | 501,867 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 7.5% | ||||||||
MONEY MARKET FUNDS - 7.5% | ||||||||
4,779,160 | First American Treasury Obligations Fund, Class X, 0.03% (Cost $4,779,160)(c) | $ | 4,779,160 | |||||
Contracts(d) | Broker/Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
INDEX OPTIONS PURCHASED - 0.9% | ||||||||||||||||||||
CALL OPTIONS PURCHASED - 0.9% | ||||||||||||||||||||
60 | SPDR S&P 500 ETF Trust | 10/15/2021 | $ | 441 | $ | 2,646,000 | $ | 9,600 | ||||||||||||
30 | SPDR S&P 500 ETF Trust | 10/15/2021 | 443 | 1,329,000 | 3,210 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 11/19/2021 | 447 | 1,117,500 | 8,250 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 415 | 622,500 | 39,750 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/20/2021 | 434 | 868,000 | 19,245 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 02/18/2022 | 447 | 1,117,500 | 28,025 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 03/18/2022 | 410 | 820,000 | 72,390 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 03/18/2022 | 420 | 1,050,000 | 73,500 | |||||||||||||||
30 | SPDR S&P 500 ETF Trust | 06/17/2022 | 423 | 1,269,000 | 98,640 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 424 | 848,000 | 64,440 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 434 | 651,000 | 52,400 | |||||||||||||||
TOTAL CALL OPTIONS PURCHASED (Cost - $540,962) | 469,450 | |||||||||||||||||||
PUT OPTIONS PURCHASED - 0.0%(e) | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | 09/30/2021 | $ | 401 | $ | 802,000 | $ | 20 | ||||||||||||
60 | SPDR S&P 500 ETF Trust | 10/15/2021 | 395 | 2,370,000 | 5,520 | |||||||||||||||
30 | SPDR S&P 500 ETF Trust | 10/15/2021 | 397 | 1,191,000 | 2,430 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 11/19/2021 | 402 | 1,005,000 | 13,600 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 380 | 570,000 | 7,395 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 395 | 592,500 | 10,035 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 02/18/2022 | 396 | 990,000 | 29,750 | |||||||||||||||
TOTAL PUT OPTIONS PURCHASED (Cost - $103,939) | 68,750 | |||||||||||||||||||
TOTAL INDEX OPTIONS PURCHASED (Cost - $644,901) | 538,200 | |||||||||||||||||||
TOTAL INVESTMENTS - 99.9% (Cost $64,129,166) | $ | 63,359,827 | ||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0% (Proceeds - $80,178) | (28,790 | ) | ||||||||||||||||||
PUT OPTIONS WRITTEN - (0.8)% (Proceeds - $505,471) | (469,795 | ) | ||||||||||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.9% | 577,229 | |||||||||||||||||||
NET ASSETS - 100.0% | $ | 63,438,471 | ||||||||||||||||||
Contracts(d) | Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
WRITTEN INDEX OPTIONS - (0.8)% | ||||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0%(f) | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | 09/30/2021 | $ | 433 | $ | 866,000 | $ | 20 |
TACTICAL GROWTH ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Contracts(d) (continued) | Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
WRITTEN INDEX OPTIONS - (0.8)% | ||||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0%(f) (Continued) | ||||||||||||||||||||
60 | SPDR S&P 500 ETF Trust | 10/15/2021 | $ | 462 | $ | 2,772,000 | $ | 300 | ||||||||||||
30 | SPDR S&P 500 ETF Trust | 10/15/2021 | 467 | 1,401,000 | 90 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 11/19/2021 | 467 | 1,167,500 | 550 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 464 | 696,000 | 1,875 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 468 | 702,000 | 1,290 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 02/18/2022 | 476 | 1,190,000 | 6,575 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 03/18/2022 | 480 | 960,000 | 4,820 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 500 | 1,000,000 | 5,360 | |||||||||||||||
30 | SPDR S&P 500 ETF Trust | 06/17/2022 | 505 | 1,515,000 | 5,850 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 520 | 1,040,000 | 2,060 | |||||||||||||||
TOTAL CALL OPTIONS WRITTEN (Proceeds - $80,178) | 28,790 | |||||||||||||||||||
PUT OPTIONS WRITTEN - (0.8)% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | 09/30/2021 | $ | 340 | $ | 680,000 | $ | 20 | ||||||||||||
60 | SPDR S&P 500 ETF Trust | 10/15/2021 | 441 | 2,646,000 | 70,620 | |||||||||||||||
30 | SPDR S&P 500 ETF Trust | 10/15/2021 | 443 | 1,329,000 | 39,960 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 11/19/2021 | 447 | 1,117,500 | 51,250 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 415 | 622,500 | 16,335 | |||||||||||||||
15 | SPDR S&P 500 ETF Trust | 12/17/2021 | 434 | 651,000 | 25,125 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 02/18/2022 | 447 | 1,117,500 | 70,275 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 03/18/2022 | 379 | 758,000 | 21,910 | |||||||||||||||
25 | SPDR S&P 500 ETF Trust | 03/18/2022 | 400 | 1,000,000 | 38,400 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 385 | 770,000 | 35,960 | |||||||||||||||
30 | SPDR S&P 500 ETF Trust | 06/17/2022 | 390 | 1,170,000 | 53,400 | |||||||||||||||
20 | SPDR S&P 500 ETF Trust | 06/17/2022 | 408 | 816,000 | 46,540 | |||||||||||||||
TOTAL PUT OPTIONS WRITTEN (Proceeds - $505,471) | 469,795 | |||||||||||||||||||
TOTAL INDEX OPTIONS WRITTEN (Proceeds - $585,649) | $ | 498,585 |
(a) | Non-income producing security. |
(b) | All or a portion of the security is held as collateral for written options. |
(c) | Rate disclosed is the seven day effective yield as of September 30, 2021. |
(d) | Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |
(e) | Percentage rounds to less than 0.1%. |
(f) | Percentage rounds to greater than (0.1%). |
TACTICAL MODERATE ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 2.3% | ||||||||
AEROSPACE & DEFENSE - 0.1% | ||||||||
98 | Lockheed Martin Corporation | $ | 33,820 | |||||
BANKING - 0.1% | ||||||||
648 | Bank OZK | 27,851 | ||||||
CHEMICALS - 0.1% | ||||||||
294 | Ashland Global Holdings, Inc. | 26,201 | ||||||
E-COMMERCE DISCRETIONARY - 0.2% | ||||||||
16 | Amazon.com, Inc.(a) | 52,561 | ||||||
HEALTH CARE FACILITIES & SERVICES - 0.1% | ||||||||
50 | UnitedHealth Group, Inc. | 19,537 | ||||||
INDUSTRIAL INTERMEDIATE PROD - 0.1% | ||||||||
405 | Timken Company (The) | 26,495 | ||||||
INDUSTRIAL SUPPORT SERVICES - 0.1% | ||||||||
232 | Applied Industrial Technologies, Inc. | 20,910 | ||||||
INFRASTRUCTURE REIT - 0.1% | ||||||||
73 | American Tower Corporation | 19,375 | ||||||
INSURANCE - 0.2% | ||||||||
127 | Assurant, Inc. | 20,034 | ||||||
74 | Berkshire Hathaway, Inc., Class B(a) | 20,198 | ||||||
40,232 | ||||||||
INTERNET MEDIA & SERVICES - 0.3% | ||||||||
18 | Alphabet, Inc., Class A(a) | 48,124 | ||||||
91 | Facebook, Inc., Class A(a) | 30,884 | ||||||
79,008 | ||||||||
MACHINERY - 0.2% | ||||||||
117 | Middleby Corporation (The)(a) | 19,950 |
TACTICAL MODERATE ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 2.3% (Continued) | ||||||||
MACHINERY - 0.2% (Continued) | ||||||||
143 | Regal Rexnord Corporation | $ | 21,498 | |||||
41,448 | ||||||||
RETAIL - CONSUMER STAPLES - 0.1% | ||||||||
143 | Walmart, Inc. | 19,931 | ||||||
SEMICONDUCTORS - 0.1% | ||||||||
124 | Microchip Technology, Inc. | 19,033 | ||||||
93 | NVIDIA Corporation | 19,266 | ||||||
38,299 | ||||||||
SOFTWARE - 0.2% | ||||||||
229 | Microsoft Corporation | 64,559 | ||||||
TECHNOLOGY HARDWARE - 0.2% | ||||||||
372 | Apple, Inc. | 52,637 | ||||||
TECHNOLOGY SERVICES - 0.1% | ||||||||
170 | Visa, Inc., Class A | 37,868 | ||||||
TOTAL COMMON STOCKS (Cost $545,253) | 600,732 | |||||||
Shares | Fair Value | |||||||
EQUITY FUNDS — 0.1% | ||||||||
LARGE-CAP CORE - 0.1% | ||||||||
131 | iShares MSCI USA Momentum Factor ETF | 23,004 | ||||||
TOTAL EQUITY FUNDS (Cost $23,187) | 23,004 |
TACTICAL MODERATE ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
EQUITY SECURITIES — 0.1% | ||||||||
EXCHANGE-TRADED FUNDS (ETF’S) - 0.1% | ||||||||
374 | Invesco S&P 500 Equal Weight Energy Portfolio | $ | 16,879 | |||||
TOTAL EQUITY SECURITIES (Cost $17,030) | 16,879 | |||||||
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 91.5% | ||||||||
ALTERNATIVE - 0.0%(b) | ||||||||
272 | First Trust ETF III-First Trust Long/Short Equity ETF(a) | 13,151 | ||||||
EQUITY - 16.0% | ||||||||
295 | Avantis U.S. Small Cap Value ETF | 22,305 | ||||||
1,474 | First Trust Energy AlphaDEX Fund | 16,922 | ||||||
250 | First Trust Nasdaq Semiconductor ETF | 16,878 | ||||||
794 | Inspire Faithward Large Cap Momentum ESG ETF(a) | 22,419 | ||||||
774 | Inspire Faithward Mid Cap Momentum ESG ETF | 22,857 | ||||||
680 | Invesco DB Commodity Index Tracking Fund | 13,722 | ||||||
257 | Invesco DWA SmallCap Momentum ETF | 22,541 | ||||||
636 | Invesco S&P International Developed Momentum ETF | 22,417 | ||||||
214 | iShares Core MSCI Emerging Markets ETF | 13,217 | ||||||
349 | iShares MSCI India ETF | 16,993 | ||||||
523 | iShares S&P 500 Growth ETF | 38,655 | ||||||
804 | ProShares Ultra QQQ | 58,507 | ||||||
1,180 | ProShares Ultra S&P500 | 141,388 | ||||||
253 | SPDR Dow Jones Global Real Estate ETF | 12,918 | ||||||
621 | Vanguard FTSE All-World ex-US ETF(c) | 37,856 | ||||||
514 | Vanguard FTSE Developed Markets ETF | 25,952 | ||||||
370 | Vanguard FTSE Emerging Markets ETF(c) | 18,504 | ||||||
66 | Vanguard Growth ETF | 19,151 | ||||||
96 | Vanguard Large-Cap ETF | 19,288 | ||||||
14,710 | Vanguard Mega Cap Growth ETF | 3,453,908 | ||||||
120 | Vanguard Mid-Cap ETF(c) | 28,411 | ||||||
75 | Vanguard Real Estate ETF(c) | 7,634 | ||||||
103 | Vanguard Russell 2000 ETF(c) | 9,106 | ||||||
938 | Vanguard Total Stock Market ETF(c) | 208,292 |
TACTICAL MODERATE ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||||||
EXCHANGE-TRADED FUNDS — 91.5% (Continued) | ||||||||||||
EQUITY - 16.0% (Continued) | ||||||||||||
155 | Vanguard Value ETF | $ | 20,982 | |||||||||
4,290,823 | ||||||||||||
FIXED INCOME - 35.7% | ||||||||||||
1,135 | First Trust Enhanced Short Maturity ETF | 68,038 | ||||||||||
1,010 | First Trust ETF IV - SSI Strategic Convertible Securities ETF | 51,288 | ||||||||||
2,485 | First Trust Preferred Securities and Income ETF | 51,042 | ||||||||||
1,064 | First Trust Senior Loan ETF | 50,912 | ||||||||||
25,909 | iShares Convertible Bond ETF | 2,584,164 | ||||||||||
350 | iShares Core U.S. Aggregate Bond ETF | 40,191 | ||||||||||
1,054 | iShares TIPS Bond ETF | 134,585 | ||||||||||
20,000 | PGIM Ultra Short Bond ETF(a),(c) | 993,600 | ||||||||||
12,234 | ProShares Short 20+ Year Treasury | 204,063 | ||||||||||
676 | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 61,827 | ||||||||||
60,506 | SPDR Bloomberg Barclays Convertible Securities ETF | 5,164,186 | ||||||||||
1,543 | VanEck Fallen Angel High Yield Bond ETF | 50,996 | ||||||||||
76 | Vanguard Long-Term Bond(c) | 7,777 | ||||||||||
181 | Vanguard Short-Term Bond ETF(c) | 14,831 | ||||||||||
737 | Vanguard Total Bond Market ETF(c) | 62,977 | ||||||||||
706 | Vanguard Total International Bond ETF(c) | 40,214 | ||||||||||
9,580,691 | ||||||||||||
MIXED ALLOCATION - 39.8% | ||||||||||||
125,974 | HCM Defender 100 Index ETF(a) | 6,121,076 | ||||||||||
113,041 | HCM Defender 500 Index ETF(a) | 4,529,553 | ||||||||||
10,650,629 | ||||||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $25,221,124) | 24,535,294 | |||||||||||
Principal Amount ($) | Coupon Rate (%) | Maturity | Fair Value | |||||||||
CORPORATE BONDS — 1.1% | ||||||||||||
SPECIALTY FINANCE — 1.1% | ||||||||||||
300,000 | American Express Company(c) | 3.7000 | 11/05/21 | 300,029 | ||||||||
TOTAL CORPORATE BONDS (Cost $300,364) | 300,029 |
TACTICAL MODERATE ALLOCATION FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||||||||||||||
SHORT-TERM INVESTMENTS — 22.0% | ||||||||||||||||||||
MONEY MARKET FUNDS - 22.0% | ||||||||||||||||||||
5,890,503 | First American Treasury Obligations Fund, Class X, 0.03% (Cost $5,890,503)(d) | $ | 5,890,503 | |||||||||||||||||
Contracts(e) | Broker/Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
INDEX OPTIONS PURCHASED - 0.1% | ||||||||||||||||||||
CALL OPTIONS PURCHASED - 0.1% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 11/19/2021 | $ | 447 | $ | 894,000 | $ | 6,600 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 06/17/2022 | 435 | 652,500 | 37,920 | ||||||||||||||
TOTAL CALL OPTIONS PURCHASED (Cost - $64,258) | 44,520 | |||||||||||||||||||
PUT OPTIONS PURCHASED - 0.0%(b) | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 11/19/2021 | $ | 407 | $ | 814,000 | $ | 13,080 | |||||||||||
TOTAL PUT OPTIONS PURCHASED (Cost - $8,127) | ||||||||||||||||||||
TOTAL INDEX OPTIONS PURCHASED (Cost - $72,385) | 57,600 | |||||||||||||||||||
TOTAL INVESTMENTS - 119.1% (Cost $32,590,314) | $ | 31,944,509 | ||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0% (Proceeds - $14,614) | (7,470 | ) | ||||||||||||||||||
PUT OPTIONS WRITTEN - (0.2)% (Proceeds - $50,079) | (67,700 | ) | ||||||||||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (18.8)% | (5,210,063 | ) | ||||||||||||||||||
NET ASSETS - 100.0% | $ | 26,809,616 | ||||||||||||||||||
Contracts(e) | Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
WRITTEN INDEX OPTIONS - (0.2)% | ||||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0%(f) | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 11/19/2021 | $ | 465 | $ | 930,000 | $ | 600 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 06/17/2022 | 485 | 727,500 | 6,870 | ||||||||||||||
TOTAL CALL OPTIONS WRITTEN (Proceeds - $14,614) | 7,470 | |||||||||||||||||||
PUT OPTIONS WRITTEN - (0.2)% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 11/19/2021 | $ | 447 | $ | 894,000 | $ | 41,000 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 06/17/2022 | 390 | 585,000 | 26,700 | ||||||||||||||
TOTAL PUT OPTIONS WRITTEN (Proceeds - $50,079) | 67,700 | |||||||||||||||||||
TOTAL INDEX OPTIONS WRITTEN (Proceeds - $64,693) | $ | 75,170 |
(a) | Non-income producing security. |
(b) | Percentage rounds to less than 0.1%. |
(c) | All or a portion of the security is held as collateral for written options. |
(d) | Rate disclosed is the seven day effective yield as of September 30, 2021. |
(e) | Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |
(f) | Percentage rounds to greater than (0.1%). |
TFA ALPHAGEN GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 3.8% | ||||||||
ASSET MANAGEMENT - 0.3% | ||||||||
200 | BlackRock, Inc. | $ | 167,732 | |||||
BIOTECH & PHARMA - 0.3% | ||||||||
716 | Eli Lilly and Company | 165,432 | ||||||
CHEMICALS - 0.2% | ||||||||
553 | Sherwin-Williams Company (The) | 154,691 | ||||||
HEALTH CARE FACILITIES & SERVICES - 0.2% | ||||||||
400 | UnitedHealth Group, Inc. | 156,296 | ||||||
HOUSEHOLD PRODUCTS - 0.2% | ||||||||
509 | Estee Lauder Companies, Inc. (The), Class A | 152,664 | ||||||
INSTITUTIONAL FINANCIAL SERVICES - 0.2% | ||||||||
400 | Goldman Sachs Group, Inc. (The) | 151,212 | ||||||
INTERNET MEDIA & SERVICES - 0.3% | ||||||||
1,000 | Airbnb, Inc., CLASS A(a) | 167,750 | ||||||
MEDICAL EQUIPMENT & DEVICES - 0.3% | ||||||||
300 | Thermo Fisher Scientific, Inc. | 171,399 | ||||||
RETAIL - DISCRETIONARY - 0.3% | ||||||||
500 | Home Depot, Inc. (The) | 164,130 | ||||||
SEMICONDUCTORS - 0.2% | ||||||||
757 | NVIDIA Corporation | 156,820 | ||||||
SOFTWARE - 0.3% | ||||||||
600 | Microsoft Corporation | 169,152 |
TFA ALPHAGEN GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 3.8% (Continued) | ||||||||
TECHNOLOGY HARDWARE - 0.2% | ||||||||
1,100 | Apple, Inc. | $ | 155,650 | |||||
TECHNOLOGY SERVICES - 0.5% | ||||||||
500 | Accenture plc, Class A | 159,960 | ||||||
600 | PayPal Holdings, Inc.(a) | 156,126 | ||||||
316,086 | ||||||||
TRANSPORTATION & LOGISTICS - 0.3% | ||||||||
1,000 | J.B. Hunt Transport Services, Inc. | 167,220 | ||||||
TOTAL COMMON STOCKS (Cost $2,548,031) | 2,416,234 |
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 80.1% | ||||||||
EQUITY - 63.6% | ||||||||
25,135 | Communication Services Select Sector SPDR Fund | 2,013,565 | ||||||
2,000 | Consumer Discretionary Select Sector SPDR Fund | 358,900 | ||||||
12,500 | Financial Select Sector SPDR Fund | 469,125 | ||||||
3,369 | Health Care Select Sector SPDR Fund | 428,874 | ||||||
2,600 | Industrial Select Sector SPDR Fund | 254,384 | ||||||
900 | Invesco QQQ Trust Series 1 | 322,164 | ||||||
32,283 | iShares MSCI Germany ETF | 1,062,756 | ||||||
7,700 | iShares MSCI Japan ETF | 540,925 | ||||||
16,866 | iShares MSCI United Kingdom ETF | 543,929 | ||||||
8,000 | iShares MSCI USA Quality Factor ETF | 1,053,840 | ||||||
5,102 | iShares U.S. Real Estate ETF | 522,394 | ||||||
59,660 | ProShares Ultra QQQ | 4,341,458 | ||||||
78,946 | ProShares Ultra S&P500 | 9,459,309 | ||||||
6,200 | SPDR S&P 500 ETF Trust | 2,660,668 | ||||||
11,581 | Technology Select Sector SPDR Fund | 1,729,275 | ||||||
600 | VanEck Semiconductor ETF | 153,762 | ||||||
34,800 | Vanguard FTSE All-World ex-US ETF | 2,121,408 | ||||||
20,500 | Vanguard FTSE Emerging Markets ETF | 1,025,205 | ||||||
3,500 | Vanguard Growth ETF | 1,015,595 |
TFA ALPHAGEN GROWTH FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 80.1% (Continued) | ||||||||
EQUITY - 63.6% (Continued) | ||||||||
5,200 | Vanguard Large-Cap ETF | $ | 1,044,784 | |||||
6,400 | Vanguard Mid-Cap ETF | 1,515,264 | ||||||
900 | Vanguard Real Estate ETF | 91,602 | ||||||
7,900 | Vanguard Russell 2000 ETF | 698,439 | ||||||
28,700 | Vanguard Total Stock Market ETF | 6,373,122 | ||||||
8,100 | Vanguard Value ETF | 1,096,497 | ||||||
40,897,244 | ||||||||
FIXED INCOME - 16.5% | ||||||||
9,100 | iShares 20+ Year Treasury Bond ETF | 1,313,312 | ||||||
15,200 | iShares Short Treasury Bond ETF | 1,679,144 | ||||||
26,100 | iShares TIPS Bond ETF | 3,332,709 | ||||||
38,300 | SPDR Bloomberg Barclays Convertible Securities ETF | 3,268,905 | ||||||
600 | Vanguard Long-Term Bond | 61,398 | ||||||
1,200 | Vanguard Short-Term Bond ETF | 98,328 | ||||||
7,800 | Vanguard Total Bond Market ETF | 666,510 | ||||||
2,900 | Vanguard Total International Bond ETF | 165,184 | ||||||
10,585,490 | ||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $53,655,817) | 51,482,734 |
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 13.8% | ||||||||
MONEY MARKET FUNDS - 13.8% | ||||||||
8,849,113 | First American Treasury Obligations Fund, Class X, 0.03% (Cost $8,849,113)(b) | 8,849,113 | ||||||
TOTAL INVESTMENTS - 97.7% (Cost $65,052,961) | $ | 62,748,081 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 2.3% | 1,490,311 | |||||||
NET ASSETS - 100.0% | $ | 64,238,392 |
ETF | - Exchange-Traded Fund |
SPDR | - Standard & Poor’s Depositary Receipt |
TFA MULTIDIMENSIONAL TACTICAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 64.2% | ||||||||
BEVERAGES - 1.9% | ||||||||
4,900 | PepsiCo, Inc. | $ | 737,009 | |||||
BIOTECH & PHARMA - 6.0% | ||||||||
12,900 | AstraZeneca plc - ADR | 774,774 | ||||||
10,900 | Gilead Sciences, Inc. | 761,365 | ||||||
56,600 | Viatris, Inc. | 766,930 | ||||||
2,303,069 | ||||||||
CABLE & SATELLITE - 5.1% | ||||||||
972 | Charter Communications, Inc., Class A(a) | 707,188 | ||||||
13,300 | Comcast Corporation, Class A | 743,869 | ||||||
15,486 | Liberty Global plc, Class A(a) | 461,483 | ||||||
1,912,540 | ||||||||
E-COMMERCE DISCRETIONARY - 4.1% | ||||||||
232 | Amazon.com, Inc.(a) | 762,129 | ||||||
3,700 | Etsy, Inc.(a) | 769,452 | ||||||
1,531,581 | ||||||||
ENTERTAINMENT CONTENT - 4.3% | ||||||||
21,900 | Fox Corporation, Class B | 812,928 | ||||||
5,100 | Take-Two Interactive Software, Inc.(a) | 785,757 | ||||||
1,598,685 | ||||||||
FOOD - 1.9% | ||||||||
12,400 | Mondelez International, Inc., Class A | 721,432 | ||||||
HEALTH CARE FACILITIES & SERVICES - 2.0% | ||||||||
9,901 | Henry Schein, Inc.(a) | 754,060 | ||||||
INTERNET MEDIA & SERVICES - 3.8% | ||||||||
274 | Alphabet, Inc., Class A(a) | 732,544 | ||||||
2,100 | Facebook, Inc., Class A(a) | 712,719 | ||||||
1,445,263 | ||||||||
LEISURE FACILITIES & SERVICES - 2.0% | ||||||||
6,800 | Caesars Entertainment, Inc.(a) | 763,504 |
TFA MULTIDIMENSIONAL TACTICAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 64.2% (Continued) | ||||||||
MEDICAL EQUIPMENT & DEVICES - 3.9% | ||||||||
4,900 | Quidel Corporation(a) | $ | 691,635 | |||||
2,700 | Repligen Corporation(a) | 780,273 | ||||||
1,471,908 | ||||||||
METALS & MINING - 1.8% | ||||||||
7,200 | Royal Gold, Inc. | 687,528 | ||||||
PUBLISHING & BROADCASTING - 2.1% | ||||||||
34,500 | News Corporation, Class A | 811,785 | ||||||
RENEWABLE ENERGY - 3.9% | ||||||||
5,100 | Enphase Energy, Inc.(a) | 764,847 | ||||||
2,700 | SolarEdge Technologies, Inc.(a) | 716,094 | ||||||
1,480,941 | ||||||||
SEMICONDUCTORS - 3.8% | ||||||||
15,500 | ON Semiconductor Corporation(a) | 709,435 | ||||||
5,700 | QUALCOMM, Inc. | 735,186 | ||||||
1,444,621 | ||||||||
TECHNOLOGY HARDWARE - 5.8% | ||||||||
4,500 | Garmin Ltd. | 699,570 | ||||||
8,500 | NetApp, Inc. | 762,960 | ||||||
13,300 | Western Digital Corporation | 750,652 | ||||||
2,213,182 | ||||||||
TECHNOLOGY SERVICES - 4.0% | ||||||||
9,900 | Amdocs Ltd. | 749,529 | ||||||
3,800 | Automatic Data Processing, Inc. | 759,696 | ||||||
1,509,225 | ||||||||
TRANSPORTATION & LOGISTICS - 6.0% | ||||||||
6,200 | Expeditors International of Washington, Inc. | 738,606 | ||||||
4,600 | J.B. Hunt Transport Services, Inc. | 769,212 | ||||||
2,620 | Old Dominion Freight Line, Inc. | 749,268 | ||||||
2,257,086 | ||||||||
WHOLESALE - DISCRETIONARY - 1.8% | ||||||||
1,600 | Pool Corporation | 695,056 |
TFA MULTIDIMENSIONAL TACTICAL FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 64.2% (Continued) | ||||||||
TOTAL COMMON STOCKS (Cost $24,561,829) | $ | 24,338,475 | ||||||
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 21.4% | ||||||||
FIXED INCOME - 21.4% | ||||||||
8,700 | iShares 1-3 Year Treasury Bond ETF | 749,505 | ||||||
4,900 | iShares 20+ Year Treasury Bond ETF | 707,168 | ||||||
5,700 | iShares 3-7 Year Treasury Bond ETF | 741,969 | ||||||
6,400 | iShares 7-10 Year Treasury Bond ETF | 737,408 | ||||||
6,272 | iShares Agency Bond ETF(a) | 743,107 | ||||||
5,500 | iShares iBoxx $ Investment Grade Corporate Bond ETF | 731,665 | ||||||
8,500 | iShares iBoxx High Yield Corporate Bond ETF | 743,665 | ||||||
6,700 | iShares JP Morgan USD Emerging Markets Bond ETF | 737,402 | ||||||
6,900 | iShares MBS ETF | 746,166 | ||||||
5,800 | iShares TIPS Bond ETF | 740,602 | ||||||
25,600 | SPDR Bloomberg Barclays International Treasury Bond ETF | 735,488 | ||||||
8,114,145 | ||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $8,138,262) | 8,114,145 | |||||||
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 6.8% | ||||||||
MONEY MARKET FUNDS - 6.8% | ||||||||
2,035,076 | Fidelity Government Portfolio, Institutional Class, 0.01%(b) | 2,035,076 | ||||||
535,191 | First American Treasury Obligations Fund, Class X, 0.03%(b) | 535,191 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $2,570,267) | 2,570,267 | |||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,570,267) | 2,570,267 | |||||||
TOTAL INVESTMENTS - 92.4% (Cost $35,270,358) | $ | 35,022,887 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 7.6% | 2,880,527 | |||||||
NET ASSETS - 100.0% | $ | 37,903,414 |
ADR | - American Depositary Receipt |
ETF | - Exchange-Traded Fund |
SPDR | - Standard & Poor’s Depositary Receipt |
(a) | Non-income producing security. |
(b) | Rate disclosed is the seven day effective yield as of September 30, 2021. |
TFA QUANTITATIVE FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
OPEN END FUNDS — 44.4% | ||||||||
EQUITY - 15.6% | ||||||||
30,247 | Rydex Russell 2000 2x Strategy Fund(a) | $ | 6,597,248 | |||||
MIXED ALLOCATION - 28.8% | ||||||||
89,025 | Rydex Series Trust - Nova Fund, Retail Class | 12,111,860 | ||||||
TOTAL OPEN END FUNDS (Cost $19,696,095) | 18,709,108 | |||||||
Shares | Fair Value | |||||||
SHORT-TERM INVESTMENTS — 55.8% | ||||||||
MONEY MARKET FUNDS - 55.8% | ||||||||
1,322,983 | First American Treasury Obligations Fund, Class X, 0.03%(b) | 1,322,983 | ||||||
22,236,645 | Rydex U.S. Government Money Market Fund, Money Market Class, 0.00%(b) | 22,236,645 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $23,559,628) | 23,559,628 | |||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $23,559,628) | 23,559,628 | |||||||
TOTAL INVESTMENTS - 100.2% (Cost $43,255,723) | $ | 42,268,736 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)% | (76,110 | ) | ||||||
NET ASSETS - 100.0% | $ | 42,192,626 |
(a) | Non-income producing security. |
(b) | Rate disclosed is the seven day effective yield as of September 30, 2021. |
TFA TACTICAL INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 1.7% | ||||||||
AEROSPACE & DEFENSE - 0.1% | ||||||||
80 | Lockheed Martin Corporation | $ | 27,608 | |||||
BANKING - 0.1% | ||||||||
553 | Bank OZK | 23,768 | ||||||
CHEMICALS - 0.1% | ||||||||
253 | Ashland Global Holdings, Inc. | 22,547 | ||||||
E-COMMERCE DISCRETIONARY - 0.1% | ||||||||
13 | Amazon.com, Inc.(a) | 42,706 | ||||||
HEALTH CARE FACILITIES & SERVICES - 0.1% | ||||||||
41 | UnitedHealth Group, Inc. | 16,020 | ||||||
INDUSTRIAL INTERMEDIATE PROD - 0.1% | ||||||||
328 | Timken Company (The) | 21,458 | ||||||
INDUSTRIAL SUPPORT SERVICES - 0.1% | ||||||||
201 | Applied Industrial Technologies, Inc. | 18,116 | ||||||
INFRASTRUCTURE REIT - 0.1% | ||||||||
59 | American Tower Corporation | 15,659 | ||||||
INSURANCE - 0.1% | ||||||||
103 | Assurant, Inc. | 16,248 | ||||||
60 | Berkshire Hathaway, Inc., Class B(a) | 16,377 | ||||||
32,625 | ||||||||
INTERNET MEDIA & SERVICES - 0.2% | ||||||||
15 | Alphabet, Inc., Class A(a) | 40,103 | ||||||
73 | Facebook, Inc., Class A(a) | 24,775 | ||||||
64,878 | ||||||||
MACHINERY - 0.0%(b) | ||||||||
95 | Middleby Corporation (The)(a) | 16,198 |
TFA TACTICAL INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
COMMON STOCKS — 1.7% (Continued) | ||||||||
MACHINERY - 0.0%(b) (Continued) | ||||||||
116 | Regal Rexnord Corporation | $ | 17,440 | |||||
33,638 | ||||||||
RETAIL - CONSUMER STAPLES - 0.1% | ||||||||
122 | Walmart, Inc. | 17,004 | ||||||
SEMICONDUCTORS - 0.1% | ||||||||
112 | Microchip Technology, Inc. | 17,191 | ||||||
80 | NVIDIA Corporation | 16,573 | ||||||
33,764 | ||||||||
SOFTWARE - 0.1% | ||||||||
199 | Microsoft Corporation | 56,101 | ||||||
TECHNOLOGY HARDWARE - 0.2% | ||||||||
312 | Apple, Inc. | 44,148 | ||||||
TECHNOLOGY SERVICES - 0.1% | ||||||||
138 | Visa, Inc., Class A | 30,740 | ||||||
TOTAL COMMON STOCKS (Cost $408,919) | 500,780 | |||||||
Shares | Fair Value | |||||||
EQUITY FUNDS — 0.2% | ||||||||
LARGE-CAP CORE - 0.2% | ||||||||
316 | iShares MSCI USA Momentum Factor ETF | 55,490 | ||||||
TOTAL EQUITY FUNDS (Cost $55,932) | 55,490 |
TFA TACTICAL INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||
EQUITY SECURITIES — 0.1% | ||||||||
EXCHANGE-TRADED FUNDS (ETF'S) - 0.1% | ||||||||
902 | Invesco S&P 500 Equal Weight Energy Portfolio | $ | 40,707 | |||||
TOTAL EQUITY SECURITIES (Cost $41,071) | 40,707 | |||||||
Shares | Fair Value | |||||||
EXCHANGE-TRADED FUNDS — 95.7% | ||||||||
ALTERNATIVE - 1.3% | ||||||||
8,077 | First Trust ETF III-First Trust Long/Short Equity ETF(a) | 390,523 | ||||||
EQUITY - 42.3% | ||||||||
711 | Avantis U.S. Small Cap Value ETF | 53,759 | ||||||
3,548 | First Trust Energy AlphaDEX Fund | 40,731 | ||||||
602 | First Trust Nasdaq Semiconductor ETF | 40,641 | ||||||
1,748 | Inspire Faithward Large Cap Momentum ESG ETF(a) | 49,356 | ||||||
1,864 | Inspire Faithward Mid Cap Momentum ESG ETF | 55,045 | ||||||
20,656 | Invesco DB Commodity Index Tracking Fund | 416,838 | ||||||
618 | Invesco DWA SmallCap Momentum ETF | 54,205 | ||||||
1,531 | Invesco S&P International Developed Momentum ETF | 53,963 | ||||||
6,208 | iShares Core MSCI Emerging Markets ETF | 383,406 | ||||||
786 | iShares MSCI India ETF | 38,270 | ||||||
10,207 | iShares S&P 500 Growth ETF | 754,399 | ||||||
7,340 | ProShares Ultra QQQ | 534,132 | ||||||
4,452 | ProShares Ultra S&P500 | 533,439 | ||||||
7,458 | SPDR Dow Jones Global Real Estate ETF | 380,805 | ||||||
9,362 | Vanguard FTSE All-World ex-US ETF(c) | 570,708 | ||||||
15,098 | Vanguard FTSE Developed Markets ETF | 762,298 | ||||||
5,661 | Vanguard FTSE Emerging Markets ETF(c) | 283,107 | ||||||
1,188 | Vanguard Growth ETF(c) | 344,722 | ||||||
1,737 | Vanguard Large-Cap ETF(c) | 348,998 | ||||||
1,751 | Vanguard Mid-Cap ETF(c) | 414,567 | ||||||
2,213 | Vanguard Russell 2000 ETF(c) | 195,651 | ||||||
25,880 | Vanguard Total Stock Market ETF | 5,746,912 | ||||||
2,865 | Vanguard Value ETF(c) | 387,835 | ||||||
12,443,787 |
TFA TACTICAL INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Shares | Fair Value | |||||||||||||||||||
EXCHANGE-TRADED FUNDS — 95.7% (Continued) | ||||||||||||||||||||
FIXED INCOME - 52.1% | ||||||||||||||||||||
2,733 | First Trust Enhanced Short Maturity ETF | $ | 163,830 | |||||||||||||||||
2,431 | First Trust ETF IV - SSI Strategic Convertible Securities ETF | 123,446 | ||||||||||||||||||
5,984 | First Trust Preferred Securities and Income ETF | 122,911 | ||||||||||||||||||
2,563 | First Trust Senior Loan ETF | 122,640 | ||||||||||||||||||
10,000 | iShares 1-5 Year Investment Grade Corporate Bond ETF(c) | 546,400 | ||||||||||||||||||
17,281 | iShares Core U.S. Aggregate Bond ETF | 1,984,377 | ||||||||||||||||||
600 | iShares Short Treasury Bond ETF(c) | 66,282 | ||||||||||||||||||
20,643 | iShares TIPS Bond ETF | 2,635,905 | ||||||||||||||||||
32,500 | PGIM Ultra Short Bond ETF(a),(c) | 1,614,600 | ||||||||||||||||||
29,460 | ProShares Short 20+ Year Treasury | 491,393 | ||||||||||||||||||
549 | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 50,212 | ||||||||||||||||||
30,400 | SPDR Bloomberg Barclays Convertible Securities ETF | 2,594,640 | ||||||||||||||||||
3,716 | VanEck Fallen Angel High Yield Bond ETF | 122,814 | ||||||||||||||||||
3,180 | Vanguard Long-Term Bond(c) | 325,409 | ||||||||||||||||||
10,140 | Vanguard Short-Term Bond ETF(c) | 830,872 | ||||||||||||||||||
5,056 | Vanguard Short-Term Inflation-Protected Securities ETF(c) | 265,844 | ||||||||||||||||||
24,358 | Vanguard Total Bond Market ETF(c) | 2,081,391 | ||||||||||||||||||
20,889 | Vanguard Total International Bond ETF(c) | 1,189,837 | ||||||||||||||||||
15,332,803 | ||||||||||||||||||||
TOTAL EXCHANGE-TRADED FUNDS (Cost $28,567,327) | 28,167,113 | |||||||||||||||||||
Shares | Fair Value | |||||||||||||||||||
SHORT-TERM INVESTMENTS — 1.7% | ||||||||||||||||||||
MONEY MARKET FUNDS - 1.7% | ||||||||||||||||||||
492,705 | First American Treasury Obligations Fund, Class X, 0.03% (Cost $492,705)(d) | 492,705 | ||||||||||||||||||
Contracts(e) | Broker/Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
INDEX OPTIONS PURCHASED - 0.5% | ||||||||||||||||||||
CALL OPTIONS PURCHASED - 0.3% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 10/15/2021 | $ | 443 | $ | 886,000 | $ | 2,140 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 01/22/2022 | 415 | 622,500 | 44,670 | ||||||||||||||
25 | SPDR S&P 500 ETF Trust | StoneX | 03/18/2022 | 440 | 1,100,000 | 42,300 | ||||||||||||||
TOTAL CALL OPTIONS PURCHASED (Cost - $112,487) | 89,110 |
TFA TACTICAL INCOME FUND |
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) |
September 30, 2021 |
Contracts(e) | Expiration Date | Exercise Price | Notional Value | Fair Value | ||||||||||||||||
INDEX OPTIONS PURCHASED - 0.5% (Continued) | ||||||||||||||||||||
PUT OPTIONS PURCHASED - 0.2% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 10/15/2021 | $ | 402 | $ | 804,000 | $ | 2,740 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 01/22/2022 | 404 | 606,000 | 16,170 | ||||||||||||||
25 | SPDR S&P 500 ETF Trust | StoneX | 03/18/2022 | 395 | 987,500 | 35,725 | ||||||||||||||
TOTAL PUT OPTIONS PURCHASED (Cost - $55,382) | 54,635 | |||||||||||||||||||
TOTAL INDEX OPTIONS PURCHASED (Cost - $167,869) | 143,745 | |||||||||||||||||||
TOTAL INVESTMENTS - 99.9% (Cost $29,739,963) | $ | 29,406,680 | ||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0% (Proceeds - $33,727) | (14,140 | ) | ||||||||||||||||||
PUT OPTIONS WRITTEN - (0.4)% (Proceeds - $125,482) | (113,660 | ) | ||||||||||||||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 0.5% | 139,232 | |||||||||||||||||||
NET ASSETS - 100.0% | $ | 29,418,112 | ||||||||||||||||||
Contracts(e) | Counterparty | Expiration Date | Exercise Price | Notional Value | Fair Value | |||||||||||||||
WRITTEN INDEX OPTIONS - (0.4)% | ||||||||||||||||||||
CALL OPTIONS WRITTEN - 0.0%(f) | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 10/18/2021 | $ | 463 | $ | 926,000 | $ | 80 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 01/21/2022 | 471 | 706,500 | 2,535 | ||||||||||||||
25 | SPDR S&P 500 ETF Trust | StoneX | 03/21/2022 | 468 | 1,170,000 | 11,525 | ||||||||||||||
TOTAL CALL OPTIONS WRITTEN (Proceeds - $33,727) | 14,140 | |||||||||||||||||||
PUT OPTIONS WRITTEN - (0.4)% | ||||||||||||||||||||
20 | SPDR S&P 500 ETF Trust | StoneX | 10/18/2021 | $ | 443 | $ | 886,000 | $ | 26,640 | |||||||||||
15 | SPDR S&P 500 ETF Trust | StoneX | 01/24/2022 | 415 | 622,500 | 21,045 | ||||||||||||||
25 | SPDR S&P 500 ETF Trust | StoneX | 03/21/2022 | 440 | 1,100,000 | 65,975 | ||||||||||||||
TOTAL PUT OPTIONS WRITTEN (Proceeds - $125,482) | 113,660 | |||||||||||||||||||
TOTAL INDEX OPTIONS WRITTEN (Proceeds - $159,209) | $ | 127,800 |
(a) | Non-income producing security. |
(b) | Percentage rounds to less than 0.1%. |
(c) | All or a portion of the security is held as collateral for written options. |
(d) | Rate disclosed is the seven day effective yield as of September 30, 2021. |
(e) | Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |
(f) | Percentage rounds to greater than (0.1%). |