Advisors Capital Tactical Fixed Income Fund
			Schedule of Investments
			June 30, 2025 (Unaudited)
Shares							Fair Value	% of Net Assets
EXCHANGE TRADED FUNDS
Fixed Income
354,300		iShares 0-5 Year High Yield Corporate Bond ETF					$  15,284,502
412,300		iShares 10+ Year Investment Grade Corporate Bond ETF					20,701,583
287,200		iShares 5-10 Year Investment Grade Corporate Bond ETF					15,304,888
297,400		iShares Broad USD Investment Grade Corporate Bond ETF					15,298,256
599,300		SPDR® Bloomberg Short Term High Yield Bond ETF					15,270,164
184,500		Vanguard Intermediate-Term Corporate Bond ETF					15,298,740
							97,158,133		63.20%
Target Maturity Fixed Income
490,800		iShares iBonds Dec 2029 Term Corporate ETF					11,450,364
347,900		iShares iBonds Dec 2030 Term Corporate ETF					7,646,842
908,500		iShares iBonds Dec 2031 Term Corporate ETF					19,114,840
							38,212,046		24.86%
US Fund Preferred Stock
625,900		Invesco Variable Rate US Preferred Stock ETF					15,303,255		9.96%
Total for Exchange Traded Funds (Cost - $146,762,736)							150,673,434		98.02%
MONEY MARKET FUNDS
3,470,515		Goldman Sachs FS Government Fund Institutional -
		Class 4.22% *					3,470,515		2.26%
Total for Money Market Funds  (Cost - $3,470,515)
		Total Investments					154,143,949		100.28%
		(Cost - $150,233,251)
		Liabilities in Excess of Other Assets					(426,513)		-0.28%
		Net Assets					$153,717,436		100.00%
* The Yield shown represents the 7-day yield at June 30, 2025.