Adaptive Growth Opportunities Fund Institutional Class

Portfolio Holdings as of 2/29/2020

Ticker Cusip Description Shares Market Value % of Portfolio
XLC 81369Y852 Communication Servic es Select Sector SPD 168,458.000 $8,550,928.08 13.57%
IHI 464288810 iShares U.S. Medical Devices ETF 31,143.000 $7,521,345.93 11.93%
XLK 81369Y803 Technology Select Se ctor SPDR Fund 80,987.000 $7,156,821.19 11.35%
IGV 464287515 ISHARES EXPANDED TECH SOFTWARE 28,086.000 $6,588,413.88 10.45%
SKYY 33734X192 FIRST TRUST CLOUD COMPUTING ETF 110,782.000 $6,577,127.34 10.43%
IPAY 26924G409 ETFMG PRIME MOBILE PAYMENTS 131,250.000 $6,296,062.50 9.99%
IBB 464287556 iShares Nasdaq Biote chnology ETF 53,571.000 $6,100,665.48 9.68%
IBUY 032108102 AMPLIFY ONLINE RETAIL ETF 96,163.000 $4,719,680.04 7.49%
SMH 92189F676 VanEck Vectors Semic onductor ETF 33,662.000 $4,442,374.14 7.05%
SOXX 464287523 iShares PHLX Semicon ductor ETF 18,717.000 $4,338,413.43 6.88%
FIGXX 316175108 Fidelity Investments Money Market Funds 740,108.530 $740,108.53 1.17%

Totals 1,492,927.530 $63,031,940.54