NPORT-EX 2 tactoutmay.htm
Adaptive Tactical Outlook Fund
            
                   
Schedule of Investments
              
                   
As of May 31, 2021
              
             
Shares
  
Value (Note 1)
                   
EXCHANGE-TRADED PRODUCTS - 97.51%
            
                   
 
Commodity - 2.01%
              
 
*
SPDR Gold Trust ETF
      
             1,297
 $
         231,359
                   
 
Fixed Income - 5.01%
            
   
iShares 0-5 Year TIPS Bond ETF
      
             5,391
  
         575,651
                   
 
Industrials - 2.01%
              
   
SPDR S&P Oil & Gas Exploration & Production ETF
    
             2,590
  
         230,691
                   
 
Large-Cap - 59.68%
              
   
Invesco QQQ Trust
      
             6,019
  
      2,009,925
   
iShares Core S&P 500 ETF
      
             6,303
  
      2,657,660
   
iShares MSCI USA Min Vol Factor ETF
    
          30,186
  
      2,190,900
                 
      6,858,485
 
Mid-Cap - 20.85%
              
   
iShares Core S&P Mid-Cap ETF
      
             8,792
  
      2,395,996
                   
 
Real Estate - 2.01%
              
   
Vanguard Real Estate ETF
      
             2,310
  
         230,723
                   
 
Small-Cap - 5.94%
              
   
iShares Russell 2000 ETF
      
             3,028
  
         682,814
                   
   
Total Exchange-Traded Products (Cost $9,357,092)
        
    11,205,719
                   
SHORT-TERM INVESTMENT - 11.54%
            
 
§
 Fidelity Investments Money Market Government Portfolio -
        
   
     Class I, 0.01%
      
     1,326,499
  
      1,326,499
                   
   
Total Short-Term Investment (Cost $1,326,499)
        
      1,326,499
                   
Investments, at Value (Cost $10,683,591) - 109.05%
      
 $
    12,532,218
                   
Liabilities in Excess of Other Assets  - (9.05)%
        
    (1,040,417)
                   
 
Net Assets - 100.00%
        
 $
    11,491,801
                   
§
Represents 7 day effective yield
            
*
Non income-producing investment
            
                   
                   
                   
                   
                   
                   
                 
(Continued)
Adaptive Tactical Outlook Fund
            
                   
Schedule of Investments - Continued
            
                   
As of May 31, 2021
              
                   
                   
     
Summary of Investments
          
     
by Sector
            
         
% of Net Assets
  
Value
    
     
Exchange-Traded Products:
          
     
  Commodity
  
2.01%
$
        231,359
    
     
  Fixed Income
  
5.01%
  
        575,651
    
     
  Industrials
  
2.01%
  
        230,691
    
     
  Large-Cap
  
59.68%
  
     6,858,485
    
     
  Mid-Cap
  
20.85%
  
     2,395,996
    
     
  Real Estate
  
2.01%
  
        230,723
    
     
  Small-Cap
  
5.94%
  
        682,814
    
     
Short-Term Investment
11.54%
  
     1,326,499
    
     
Liabilities in Excess of Other Assets
-9.05%
  
   (1,040,417)
    
     
Total Net Assets
  
100.00%
$
  11,491,801