Schedule of Investments
March 31, 2024 (unaudited)
Tactical Income Fund
Security Description | Shares or Principal Amount ($) | Fair Value ($)(@) | ||||||||||
Registered Investment Companies - 73.7% | ||||||||||||
U.S. Fixed Income - 61.4% | ||||||||||||
BBH Limited Duration Fund - Class I | 500,370 | 5,158,814 | ||||||||||
BRANDYWINEGLOBAL HIGH YIELD CLASS I | 875,527 | 8,912,869 | ||||||||||
Diamond Hill Short Duration Securitized Bond Fund - Class Y | 235,163 | 2,295,191 | ||||||||||
FIDELITY ADVISOR HIGH INCOME ADVANTAGE FUND CLASS Z | 833,827 | 9,005,336 | ||||||||||
FIDELITY ADVISOR TOTAL BOND FUND CLASS Z | 759,036 | 7,180,477 | ||||||||||
PIMCO LOW DURATION INCOME FUND - CLASS I | 1,332,770 | 10,675,488 | ||||||||||
43,228,175 | ||||||||||||
International Fixed Income - 12.3% | ||||||||||||
iShares JP Morgan USD Emerging Markets Bond ETF (3) | 96,423 | 8,646,250 | ||||||||||
8,646,250 | ||||||||||||
Total Registered Investment Companies | (Cost | $ | 50,565,134 | ) | 51,874,425 | |||||||
Money Market Registered Investment Companies - 26.4% | ||||||||||||
Meeder Institutional Prime Money Market Fund, 5.33% (1) | 18,542,368 | 18,544,222 | ||||||||||
Total Money Market Registered Investment Companies | (Cost | $ | 18,539,947 | ) | 18,544,222 | |||||||
Total Investments - 100.1% | (Cost | $ | 69,105,081 | ) | 70,418,647 | |||||||
Liabilities less Other Assets - (0.1%) | (80,362 | ) | ||||||||||
Total Net Assets - 100.0% | 70,338,285 | |||||||||||
Trustee Deferred Compensation (2) | ||||||||||||
Meeder Balanced Fund - Retail Class | 1,470 | 19,963 | ||||||||||
Meeder Dynamic Allocation Fund - Retail Class | 3,813 | 56,356 | ||||||||||
Meeder Muirfield Fund - Retail Class | 2,261 | 22,746 | ||||||||||
Meeder Conservative Allocation Fund - Retail Class | 436 | 9,915 | ||||||||||
Total Trustee Deferred Compensation | (Cost | $ | 88,446 | ) | 108,980 |
(@) | Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below. |
● Level 1 - quoted prices in active markets for identical securities | |
● Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | |
● Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
The following is a summary of the inputs used as of March 31, 2024 in valuing the Fund's assets carried at fair value:
Valuation Inputs | Investments in Securities | Other Financial Instruments (4) | ||||||
Level 1 - Quoted Prices | $ | 70,418,647 | $ | - | ||||
Level 2 - Other Significant Observable Inputs | - | - | ||||||
Level 3 - Significant Unobservable Inputs | - | - | ||||||
Total | $ | 70,418,647 | $ | - |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.
(1) | Investment in affiliate. The yield shown represents the 7-day yield in effect at March 31, 2024. |
(2) | Assets of affiliates to the Tactical Income Fund held for the benefit of the Fund's Trustees in connection with the Trustee Deferred Compensation Plan. |
(3) | Exchange-traded fund. |
(4) | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |