NPORT-EX 2 roro.htm SCHEDULE OF INVESTMENTS

ATAC US Rotation ETF
  
   
Schedule of Investments (Unaudited)
  
May 31, 2023
  
             
Description
  
Shares
    
Value
  
EXCHANGE-TRADED FUNDS - 99.8%
            
ProShares UltraPro Russell 2000
    
41,980
    
$
1,418,085
  
Schwab U.S. Large-Cap Growth ETF (1)
    
91,011
      
6,396,253
  
Vanguard Small-Cap ETF
    
10,615
      
1,949,126
  
Total Exchange-Traded Funds
                
(Cost $9,859,951)
            
9,763,464
  
                 
SHORT-TERM INVESTMENTS - 0.3%
                
First American Government Obligations Fund, Class X, 4.968% (2)
                
(Cost $26,522)
    
26,522
      
26,522
  
                 
Total Investments - 100.1%
                
(Cost $9,886,473)
            
9,789,986
  
Liabilities in Excess of Other Assets, Net - (0.1)%
            
(8,051
)
Total Net Assets - 100.0%
          
$
9,781,935
  

(1)   
Value of this security exceeds 25% of the ATAC US Rotation ETF’s (the “Fund”) net assets.  Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov.
(2)   
The rate shown is the annualized seven day effective yield as of May 31, 2023.

 
Summary of Fair Value Exposure at May 31, 2023 (Unaudited)
         
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
 
 
 
    
• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
• Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data.
• Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
 
 
    
The following is a summary of the inputs used to value the Fund’s investments as of May 31, 2023:

Investments in Securities
  
Level 1
    
Level 2
    
Level 3
    
Total
Exchange-Traded Funds
  
$
9,763,464
    
$
–
    
$
–
    
$
9,763,464
Short-Term Investments
    
26,522
      
–
      
–
      
26,522
Total Investments in Securities
  
$
9,789,986
    
$
–
    
$
–
    
$
9,789,986