Security Holdings

* Based On Net Assets *

BTS Tactical Fixed Income Fund 1/31/2017

Security Holdings Through 1/31/2017
Security DescriptionPercentage
SPDR Bloomberg Barclays High Yield Bond ETF38.38 %
iShares iBoxx $ High Yield Corporate Bond ETF38.25 %
SPDR Bloomberg Barclays Short Term High Yield6.80 %
PowerShares Senior Loan Portfolio6.45 %
UNION BANK INSTITUTIONAL TRUST DEPOSIT ACC - IV5.62 %
PIMCO 0-5 Year High Yield Corporate Bond Index3.72 %
SPDR Bloomberg Barclays Convertible Securities0.92 %

The security holdings are presented to illustrate examples of the securities that the fund has bought and the diversity of areas in which the funds may invest, and may not be representative of the fund's current or future investments. Portfolio holdings are subject to change and should not be considered to be investment advice.