Armour Tactical Flex Fund

Class Other (ARMFX)

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 40.69 99.53 -58.84
Stocks 59.21 0.0 59.21
Bonds 0.0 0.0 0.0
Other 36.72 1.93 34.79
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 64.85 0.0 64.85
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 11.30.2013

Top 10 Holdings

Performance as of 03.31.2014

Portfolio as of 11.30.2013

% Net Assets
ProShares Ultra S&P500 46.46
iShares Core S&P 500 15.43
ProShares Ultra Technology 7.74
ProShares Ultra Financials 7.6
ProShares Ultra Oil & Gas 7.3
Vanguard Information Technology ETF 2.55
Vanguard Financials ETF 2.51
Vanguard Energy ETF 2.16