Cavalier Hedged High Income Fund Institutional Class

Portfolio Holdings as of 5/31/2019

Ticker Cusip Description Shares Market Value % of Portfolio
FIGXX 316175108 Fidelity Investments Money Market Funds 19,725,229.610 $19,725,229.61 56.95%
GHYB 381430453 GOLDMAN SACHS ACCESS HY CORP ETF 200,000.000 $9,658,000.00 27.88%
74063B79 74063B799 PREFERRED APT COMNTY INC #N/A Field Not 2,000.000 $2,000,000.00 5.77%
74063B57 74063B575 PREFERRED APT COMNTY INC #N/A Field Not 1,000.000 $1,000,000.00 2.89%
JNK 78468R622 SPDR Bloomberg Barcl ays High Yield Bond 5,863.000 $622,357.49 1.80%
FB 30303M102 Facebook Inc 963.000 $170,903.61 0.49%
MSFT 594918104 Microsoft Corp 1,381.000 $170,802.08 0.49%
SBUX 855244109 Starbucks Corp 2,236.000 $170,070.16 0.49%
V 92826C839 Visa Inc 1,053.000 $169,880.49 0.49%
ADBE 00724F101 Adobe Systems Inc 615.000 $166,603.50 0.48%
ADP 053015103 Automatic Data Proce ssing Inc 1,039.000 $166,364.68 0.48%
ZTS 98978V103 Zoetis Inc 1,638.000 $165,519.90 0.48%
ORLY 67103H107 O'Reilly Automotive Inc 425.000 $157,832.25 0.46%
GOOG 02079K107 Alphabet Inc 135.000 $148,990.05 0.43%
NKE 654106103 NIKE Inc 1,858.000 $143,326.12 0.41%
VWEHX 922031208 Vanguard High-Yield Corporate Fund 0.000 $0.00 0.00%

Totals 19,945,435.610 $34,635,879.94