Fairlead
Tactical
Sector
ETF
Schedule
of
Investments
April
30,
2025
(Unaudited)
EXCHANGE-TRADED
FUNDS
—
99.66%
Shares
Fair
Value
Communication
Services
Select
Sector
SPDR
Fund
288,654
$
27,549,138
Consumer
Discretionary
Select
Sector
SPDR®
Fund
138,736
27,367,063
Consumer
Staples
Select
Sector
SPDR®
Fund
344,264
28,171,123
Financial
Select
Sector
SPDR®
Fund
557,332
27,175,508
Industrial
Select
Sector
SPDR®
Fund
213,149
27,969,412
Real
Estate
Select
Sector
SPDR®
Fund
669,050
27,631,765
SPDR®
Gold
MiniShares®
Trust
151,310
9,874,491
SPDR®
Portfolio
Long
Term
Treasury
ETF
356,770
9,597,113
SPDR®
Portfolio
Short
Term
Treasury
ETF
323,934
9,517,181
Utilities
Select
Sector
SPDR®
Fund
354,571
27,975,652
Total
Exchange-Traded
Funds
(Cost $203,623,224)
222,828,446
Total
Investments
—
99.66%
(Cost
$203,623,224)
222,828,446
Other
Assets
in
Excess
of
Liabilities — 0.34%
769,447
NET
ASSETS
—
100.00%
$
223,597,893
ETF
-
Exchange-Traded
Fund
SPDR
-
Standard
&
Poor's
Depositary
Receipt