united
states
securities and exchange commission
washington, d.c. 20549
form n-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-23066
Northern Lights Fund Trust IV
(Exact name of registrant as specified in charter)
225 Pictoria Drive, Suite 450 Cincinatti, OH 45246
(Address of principal executive offices) (Zip
code)
Jen Farrell, Gemini Fund Services, LLC.
80 Arkay Drive, Suite 110 Hauppauge NY 11788
(Name and address of agent for service)
Registrant's telephone number, including area code: 631-470-2619
Date of fiscal year end: 5/31
Date of reporting period: 2/29/20
Form N-Q is to be used by management investment
companies, other than small business investment companies registered on Form N-5 (§§239.24 and 274.5 of this chapter),
to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to
rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form
N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information
specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection
of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB")
control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions
for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The
OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments.
FormulaFolios Hedged Growth ETF
|
PORTFOLIO OF INVESTMENTS (Unaudited)
|
February 29, 2020
|
Shares
|
|
|
|
|
Fair Value
|
|
|
EXCHANGE TRADED FUNDS - 97.2%
|
|
|
|
|
|
EQUITY FUNDS - 97.2%
|
|
|
|
159,782
|
|
Health Care Select Sector SPDR Fund
|
|
|
$ 14,797,411
|
24,606
|
|
iShares Core S&P 500 ETF
|
|
|
7,281,161
|
38,504
|
|
iShares Core S&P Mid-Cap ETF
|
|
|
6,986,551
|
198,992
|
|
iShares Core S&P Small-Cap ETF
|
|
|
14,484,628
|
61,432
|
|
iShares S&P 100 ETF
|
|
|
8,161,856
|
74,507
|
|
ProShares Ultra MidCap400
|
|
|
2,588,373
|
43,601
|
|
ProShares Ultra Russell2000
|
|
|
2,617,804
|
22,444
|
|
ProShares Ultra S&P500 +
|
|
|
2,849,490
|
|
|
|
|
|
|
|
|
TOTAL EXCHANGE TRADED FUNDS (Cost - $60,222,809)
|
|
59,767,274
|
|
|
|
|
|
|
|
|
COLLATERAL FOR SECURITIES LOANED - 5.8%
|
|
|
|
3,600,552
|
|
Fidelity Investments Money Market Government Portfolio - Institutional Class, 1.50 % *
|
|
|
|
TOTAL COLLATERAL FOR SECURITIES LOANED (Cost - $3,600,552)
|
|
3,600,552
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 103.0% (Cost - $63,823,361)
|
|
|
$ 63,367,826
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (3.0)%
|
|
|
(1,864,755)
|
|
|
NET ASSETS - 100.0%
|
|
|
$ 61,503,071
|
|
|
|
|
|
|
+
|
-
|
All or a portion of this security is on loan. Total loaned securities had a value of $2,715,111 at February 29, 2020.
|
*
|
-
|
Money Market Fund; Interest rate reflects seven-day effective yield on February 29, 2020
|
ETF
|
-
|
Exchange Traded Fund
|
|
|
|
SPDR
|
-
|
Standard & Poor's Depositary Receipts
|
|
|
|
S&P
|
-
|
Standard and Poor's
|
|
|
|
FormulaFolios Smart Growth ETF
|
PORTFOLIO OF INVESTMENTS (Unaudited)
|
February 29, 2020
|
Shares
|
|
|
|
|
Fair Value
|
|
|
EXCHANGE TRADED FUNDS - 99.7%
|
|
|
|
|
|
EQUITY FUNDS - 99.7%
|
|
|
|
120,198
|
|
iShares Core MSCI EAFE ETF
|
|
|
$ 7,024,371
|
93,720
|
|
iShares Core MSCI Emerging Markets ETF
|
|
|
4,565,101
|
60,750
|
|
iShares Core S&P 500 ETF
|
|
|
17,976,532
|
50,010
|
|
iShares Core S&P Mid-Cap ETF
|
|
|
9,074,315
|
122,418
|
|
iShares Core S&P Small-Cap ETF
|
|
|
8,910,806
|
65,322
|
|
iShares U.S. Real Estate ETF
|
|
|
5,709,143
|
|
|
|
|
|
|
|
|
TOTAL EXCHANGE TRADED FUNDS (Cost - $54,997,750)
|
|
53,260,268
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 99.7% (Cost - $54,997,750)
|
|
$ 53,260,268
|
|
|
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%
|
|
|
159,349
|
|
|
NET ASSETS - 100.0%
|
|
|
$ 53,419,617
|
|
|
|
|
|
|
EAFE
|
-
|
Europe, Australasia, and Far East
|
|
|
|
ETF
|
-
|
Exchange Traded Fund
|
|
|
|
MSCI
|
-
|
Morgan Stanley Capital Investment
|
|
|
|
S&P
|
-
|
Standard and Poor's
|
|
|
|
FormulaFolios Tactical Growth ETF
|
PORTFOLIO OF INVESTMENTS (Unaudited)
|
February 29, 2020
|
Shares
|
|
|
|
|
Fair Value
|
|
|
EXCHANGE TRADED FUNDS - 99.2%
|
|
|
|
|
|
COMMODITY FUNDS - 20.9%
|
|
|
|
282,992
|
|
Invesco DB Gold Fund +*
|
|
|
$ 13,207,237
|
|
|
|
|
|
|
|
|
EQUITY FUNDS - 78.3%
|
|
|
|
116,103
|
|
iShares U.S. Real Estate ETF
|
|
|
10,147,402
|
335,130
|
|
VanEck Vectors Gold Miners ETF
|
|
|
8,787,109
|
114,356
|
|
Vanguard Real Estate ETF
|
|
|
9,986,709
|
136,640
|
|
Vanguard Total Stock Market ETF +
|
|
|
20,556,122
|
|
|
|
|
|
49,477,342
|
|
|
|
|
|
|
|
|
TOTAL EXCHANGE TRADED FUNDS (Cost - $58,202,901)
|
|
62,684,579
|
|
|
|
|
|
|
|
|
COLLATERAL FOR SECURITIES LOANED - 2.5%
|
|
|
|
1,613,732
|
|
Fidelity Investments Money Market Government Portfolio - Institutional Class, 1.50 % **
|
|
|
TOTAL COLLATERAL FOR SECURITIES LOANED (Cost - $1,613,732)
|
|
1,613,732
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 101.7% (Cost - $59,816,633)
|
|
$ 64,298,311
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.7)%
|
|
|
(1,082,120)
|
|
|
NET ASSETS - 100.0%
|
|
|
$ 63,216,191
|
|
|
|
|
|
|
+
|
-
|
All or a portion of this security is on loan. Total loaned securities had a value of $1,567,762 at February 29, 2020.
|
*
|
-
|
Affiliated issue due to 5% ownership
|
|
|
**
|
-
|
Money Market Fund; Interest rate reflects seven-day effective yield on February 29, 2020
|
ETF
|
-
|
Exchange Traded Fund
|
|
|
|
FormulaFolios Tactical Income ETF
|
PORTFOLIO OF INVESTMENTS (Unaudited)
|
February 29, 2020
|
Shares
|
|
|
|
|
Fair Value
|
|
|
EXCHANGE TRADED FUNDS - 97.6%
|
|
|
|
|
|
FIXED INCOME FUNDS - 97.6%
|
|
|
|
722,287
|
|
Invesco Fundamental High Yield Corporate Bond ETF +
|
|
$ 13,636,779
|
216,837
|
|
iShares 20+ Year Treasury Bond ETF
|
|
|
33,676,954
|
254,096
|
|
iShares 7-10 Year Treasury Bond ETF +
|
|
|
29,795,297
|
225,154
|
|
iShares iBoxx $ Investment Grade Corporate Bond ETF +
|
|
29,760,856
|
555,479
|
|
iShares iBoxx High Yield Corporate Bond ETF +
|
|
|
47,793,413
|
369,433
|
|
iShares Preferred & Income Securities ETF
|
|
|
13,410,418
|
441,317
|
|
SPDR Bloomberg Barclays High Yield Bond ETF +
|
|
|
47,207,679
|
224,054
|
|
VanEck Vectors High-Yield Municipal Index ETF +
|
|
|
14,702,423
|
307,966
|
|
Vanguard Intermediate-Term Corporate Bond ETF
|
|
28,998,079
|
|
|
|
|
|
|
|
|
TOTAL EXCHANGE TRADED FUNDS (Cost - $244,787,845)
|
|
258,981,898
|
|
|
|
|
|
|
|
|
COLLATERAL FOR SECURITIES LOANED - 43.8%
|
|
|
|
116,338,630
|
|
Fidelity Investments Money Market Government Portfolio - Institutional Class, 1.50 % *
|
|
|
|
TOTAL COLLATERAL FOR SECURITIES LOANED (Cost - $116,338,630)
|
|
116,338,630
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 141.4% (Cost - $361,126,475)
|
|
$ 375,320,528
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS - (41.4)%
|
|
|
(109,853,104)
|
|
|
NET ASSETS - 100.0%
|
|
|
$ 265,467,424
|
|
|
|
|
|
|
+
|
-
|
All or a portion of this security is on loan. Total loaned securities had a value of $112,932,557 at February 29, 2020.
|
*
|
-
|
Money Market Fund; Interest rate reflects seven-day effective yield on February 29, 2020
|
ETF
|
-
|
Exchange Traded Fund
|
|
|
|
SPDR
|
-
|
Standard & Poor's Depositary Receipts
|
|
|
|
FormulaFolios ETFs
NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited)
February 29, 2020
The following is a summary of significant accounting
policies followed by the Funds in preparation of their financial statements. These policies are in conformity with accounting principles
generally accepted in the United States of America (“GAAP”). The preparation of financial statements requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from
operations during the reporting period. Actual results could differ from those estimates. The Funds are investment companies and
accordingly follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB)
Accounting Standards Codification Topic 946 “Financial Services – Investment Companies.”
Securities Valuation – Securities listed on
an exchange are valued at the last reported sale price at the close of the regular trading session of the exchange on the business
day the value is being determined, or in the case of securities listed on NASDAQ at the NASDAQ Official Closing Price. In the absence
of a sale, such securities shall be valued at the mean between the current bid and ask prices on the day of valuation.
Valuation of Underlying Funds - The Funds may invest
in portfolios of open-end or closed-end investment companies (the “investment companies”). Investment companies are
valued at their respective net asset values as reported by such investment companies. Mutual funds value securities in their portfolios
for which market quotations are readily available at their market values (generally the last reported sale price) and all other
securities and assets at their fair value to the methods established by the board of directors of the open-end funds. Exchange-traded
funds (“ETFs”) are valued at the last reported price or official closing price. The shares of many closed-end investment
companies and ETFs, after their initial public offering, frequently trade at a price per share, which is different than the net
asset value per share. The difference represents a market premium or market discount of such shares. There can be no assurances
that the market discount or market premium on shares of any closed-end investment company or ETF purchased by the Funds will not
change.
The Funds may hold securities, such as private investments,
interests in commodity pools, other non-traded securities or temporarily illiquid securities, for which market quotations are not
readily available or are determined to be unreliable. These securities will be valued using the “fair value” procedures
approved by the Board of Trustees (“the Board”). The Board has delegated execution of these procedures to a fair value
committee composed of one or more representatives from each of the (i) Trust, (ii) administrator, and (iii) adviser. The committee
may also enlist third party consultants such as a valuation specialist at a public accounting firm, valuation consultant, or financial
officer of a security issuer on an as-needed basis to assist in determining a security-specific fair value.
Fair Valuation Process – As noted above, the
fair value committee is composed of one or more representatives from each of the (i) Trust, (ii) administrator, and (iii) adviser.
The applicable investments are valued collectively via inputs from each of these groups. For example, fair value determinations
are required for the following securities: (i) securities for which market quotations are insufficient or not readily available
on a particular business day (including securities for which there is a short and temporary lapse in the provision of a price by
the regular pricing source), (ii) securities for which, in the judgment of the adviser, the prices or values available do not represent
the fair value of the instrument. Factors which may cause the adviser to make such a judgment include, but are not limited to,
the following: only a bid price or an ask price is available; the spread between bid and ask prices is substantial; the frequency
of sales; the thinness of the market; the size of reported trades; and actions of the securities markets, such as the suspension
or limitation of trading; (iii) securities determined to be illiquid; (iv) securities with respect to which an event that will
affect the value thereof has occurred (a “significant event”) since the closing prices were established on the principal
exchange on which they are traded, but prior to a Fund’s calculation of its net asset value. Restricted or illiquid securities,
such as private investments or non-traded securities are valued via inputs from the adviser based upon the current bid for the
security from two or more independent dealers or other parties reasonably familiar with the facts and circumstances of the security
(who should take into consideration all relevant factors as may be appropriate under the circumstances). If the adviser is unable
to obtain a current bid from such independent dealers or other independent parties, the fair value committee shall determine the
fair value of such security using the following factors: (i) the type of security; (ii) the cost at date of purchase; (iii) the
size and nature
FormulaFolios ETFs
NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited)
(Continued)
February 29, 2020
of a Fund's holdings; (iv) the discount from market
value of unrestricted securities of the same class at the time of purchase and subsequent thereto; (v) information as to any transactions
or offers with respect to the security; (vi) the nature and duration of restrictions on disposition of the security and the existence
of any registration rights; (vii) how the yield of the security compares to similar securities of companies of similar or equal
creditworthiness; (viii) the level of recent trades of similar or comparable securities; (ix) the liquidity characteristics of
the security; (x) current market conditions; and (xi) the market value of any securities into which the security is convertible
or exchangeable.
The Funds utilize various methods to measure the
fair value of all of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods.
The three levels of input are:
Level 1 – Unadjusted quoted prices in active
markets for identical assets and liabilities that the Funds have the ability to access.
Level 2 – Observable inputs other than quoted
prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include
quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds,
credit risk, yield curves, default rates and similar data.
Level 3 – Unobservable inputs for the asset
or liability, to the extent relevant observable inputs are not available, representing the Funds’ own assumptions about the
assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The availability of observable inputs can vary from
security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security
is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security.
To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination
of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments
categorized in Level 3.
The inputs used to measure fair value may fall into
different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within
which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the
fair value measurement in its entirety.
The inputs or methodology used for valuing securities
are not necessarily an indication of the risk associated with investing in those securities. The following tables summarize the
inputs used as of February 29, 2020 for the Funds’ assets measured at fair value:
FormulaFolios Hedged Growth ETF
Assets *
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Exchange Traded Funds
|
$ 59,767,274
|
$ -
|
$ -
|
$ 59,767,274
|
Collateral For Securities Loaned
|
3,600,552
|
-
|
-
|
3,600,552
|
Total
|
$ 63,367,826
|
$ -
|
$ -
|
$ 63,367,826
|
FormulaFolios Smart Growth ETF
Assets *
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Exchange Traded Funds
|
$ 53,260,268
|
$ -
|
$ -
|
$ 53,260,268
|
Total
|
$ 53,260,268
|
$ -
|
$ -
|
$ 53,260,268
|
FormulaFolios ETFs
NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited)
(Continued)
February 29, 2020
FormulaFolios Tactical Growth
ETF
Assets *
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Exchange Traded Funds
|
$ 62,684,579
|
$ -
|
$ -
|
$ 62,684,579
|
Collateral For Securities Loaned
|
1,613,732
|
-
|
-
|
1,613,732
|
Total
|
$ 64,298,311
|
$ -
|
$ -
|
$ 64,298,311
|
FormulaFolios Tactical Income ETF
Assets *
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Exchange Traded Funds
|
$ 258,981,898
|
$ -
|
$ -
|
$ 258,981,898
|
Collateral For Securities Loaned
|
116,338,630
|
-
|
-
|
116,338,630
|
Total
|
$ 375,320,528
|
$ -
|
$ -
|
$ 375,320,528
|
The Funds did not hold any Level 3 securities
during the period.
* Refer to the Portfolio of Investments for classifications
The Smart Growth ETF and Tactical Growth ETF currently
seek to achieve their investment objective by investing a portion of their assets in the iShares Core S&P 500 ETF and Vanguard
Total Stock Market ETF (the “Securities”). The Smart Growth ETF and Tactical Growth ETF may redeem their investments
from the Securities at any time if the Adviser determines that it is in the best interest of the Smart Growth ETF and Tactical
Growth ETF and its shareholders to do so.
The performance of the Smart Growth ETF and Tactical
Growth ETF will be directly affected by the performance of the Securities. The annual report of the Securities, along with the
report of the independent registered public accounting firm is included in the applicable Security’s N-CSRs available at
www.sec.gov. As of February 29, 2020, the percentage of the Smart Growth ETF’s net assets invested in the iShares Core S&P
500 ETF was 33.7% and the percentage of the Tactical Growth ETF’s net assets invested in the Vanguard Total Stock Market
ETF was 32.5%.
The identified cost of investments in securities
owned by the Funds for federal income tax purposes and their respective gross unrealized appreciation and depreciation at February
29, 2020, were as follows:
FormulaFolios Hedged Growth ETF
|
Tax Cost
|
Gross Unrealized Appreciation
|
Gross Unrealized Depreciation
|
Net Unrealized Depreciation
|
$64,804,139
|
$729,166
|
$(2,165,479)
|
$(1,436,313)
|
|
|
|
|
|
|
|
|
|
|
FormulaFolios Smart Growth ETF
|
Tax Cost
|
Gross Unrealized Appreciation
|
Gross Unrealized Depreciation
|
Net Unrealized Depreciation
|
$54,997,750
|
$1,156,206
|
$(2,893,688)
|
$(1,737,482)
|
|
|
|
|
|
|
|
|
|
|
FormulaFolios ETFs
NOTES TO PORTFOLIO OF INVESTMENTS (Unaudited)
(Continued)
February 29, 2020
FormulaFolios Tactical Growth ETF
|
Tax Cost
|
Gross Unrealized Appreciation
|
Gross Unrealized Depreciation
|
Net Unrealized Appreciation
|
$59,851,152
|
$4,447,159
|
$0
|
$4,447,159
|
|
|
|
|
|
FormulaFolios Tactical Income ETF
|
Tax Cost
|
Gross Unrealized Appreciation
|
Gross Unrealized Depreciation
|
Net Unrealized Appreciation
|
$361,340,388
|
$15,940,726
|
$(1,960,586)
|
$13,980,140
|
|
|
|
|
|
Item 2. Controls and Procedures.
(a) The
registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded
that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
1940, as amended (the “1940 Act”)) are effective, as of a date within 90 days of the filing date of this report that
includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b)
under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There
were no significant changes in the registrant’s internal control over financial reporting that occurred during the registrant’s
last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal
control over financial reporting.
Item 3. Exhibits.
Certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) (and Item 3 of Form N-Q) are filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Northern Lights Fund Trust IV
By
/s/ Wendy Wang
Wendy Wang, Principal Executive Officer/President
Date 4/27/20
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.
By
/s/ Wendy Wang
Wendy Wang, Principal Executive Officer/President
Date 4/27/20
By
/s/ Sam Singh
Sam Singh, Principal Financial Officer/Treasurer
Date 4/27/20
Affinity World Leaders E... (AMEX:WLDR)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Affinity World Leaders E... (AMEX:WLDR)
Historical Stock Chart
Von Sep 2023 bis Sep 2024