Semi Annual Report by Investment Company Form N CSRS

FORM N-CSRS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number: 811-23306

Collaborative Investment Series Trust

(Exact name of registrant as specified in charter)

500 Damonte Ranch, Parkway

Building 700, Unit 700

Reno, Nevada 89521

(Address of principal executive offices) (Zip code)

Northwest Registered Agent Service, Inc.

8 The Green, Suite B

Dover, Delaware 19901

(Name and address of agent for service)

With copy to:

JoAnn M. Strasser

Thompson Hine LLP

41 South Street, Suite 1700

Columbus, OH 43215

Registrant's Telephone Number, including Area Code: (203) 622-6000

Date of fiscal year end: December 31

Date of reporting period: June 30, 2024

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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. Reports to Stockholders.

SEMI-ANNUAL SHAREHOLDER REPORT

June 30, 2024

MERCATOR INTERNATIONAL OPPORTUNITY FUND- INSTITUTIONAL CLASS

MOPPX

Performance graph

TOTAL RETURNS FOR THE PERIOD ENDED JUNE 30, 2024

	ONE YEAR	FIVE YEARS	SINCE INCEPTION*	VALUE
Mercator International Opportunity Fund - Institutional Class	1.83%	3.73%	2.51%	$ 11,677
MSCI EAFE Index	12.18%	7.07%	5.74%	$ 14,171

Hypothetical Cumulative Performance Comparison of $10,000 Investment Since Inception

* Inception April 2, 2018.

Past performance is not a good predictor of future performance. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-800-869-1679.

sector weightings (Based on percentage of total investments)

The following chart gives a visual breakdown of the Fund by the industry sectors the underlying securities represent as of June 30, 2024, represented as a percentage of the portfolio of investments. Below Sectors are categorized using Yahoo Finance classifications.

country breakout (Based on percentage of total investments)

United States	30.91%
Japan	27.90%
United Kingdom	15.96%
Germany	12.19%
Netherlands	10.90%
Sweden	7.90%
Uruguay	5.95%
Italy	4.19%
France	3.24%
China	2.62%
Denmark	2.26%
Luxembourg	1.89%
Argentina	1.34%
Mexico	1.27%
Belgium	1.06%
Switzerland	0.65%
Total % of Net Assets	130.23%

How has the fund changed

As of February 13, 2024, the Mercator International Opportunity Fund changed their custodian from U.S. Bank N.A. to Huntington National Bank to perform all custodian services for the Fund.

Householding

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-800-869-1679, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy voting information, visit www.mercatormutualfunds.comor contact us at 1-800-869-1679.

SEMI-ANNUAL SHAREHOLDER REPORT

June 30, 2024

MERCATOR INTERNATIONAL OPPORTUNITY FUND- CLASS A

MOOPX

Performance graph

TOTAL RETURNS FOR THE PERIOD ENDED JUNE 30, 2024

	ONE YEAR	SINCE INCEPTION*	VALUE
Mercator International Opportunity Fund - Class A	1.65%	3.66%	$ 11,898
MSCI EAFE Index	12.18%	8.33%	$ 14,7181

Hypothetical Cumulative Performance Comparison of $10,000 Investment Since Inception

* Inception August 29, 2019.

Past performance is not a good predictor of future performance. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-800-869-1679.

Sector Weightings (Based on percentage of total investments)

The following chart gives a visual breakdown of the Fund by the industry sectors the underlying securities represent as of June 30, 2024, represented as a percentage of the portfolio of investments. Below Sectors are categorized using Yahoo Finance classifications.

country breakout (Based on Percentage of total investments)

United States	30.91%
Japan	27.90%
United Kingdom	15.96%
Germany	12.19%
Netherlands	10.90%
Sweden	7.90%
Uruguay	5.95%
Italy	4.19%
France	3.24%
China	2.62%
Denmark	2.26%
Luxembourg	1.89%
Argentina	1.34%
Mexico	1.27%
Belgium	1.06%
Switzerland	0.65%
Total % of Net Assets	130.23%

How has the fund changed

As of February 13, 2024, the Mercator International Opportunity Fund changed their custodian from U.S. Bank N.A. to Huntington National Bank to perform all custodian services for the Fund.

Householding

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-800-869-1679, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy voting information, visit www.mercatormutualfunds.comor contact us at 1-800-869-1679.

Item 2. Code of Ethics.

(a)As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

(b) For purposes of this item, "code of ethics" means written standards that are reasonably designed to deter wrongdoing and to promote:

(1) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

(2) Full, fair, accurate, timely, and understandable disclosure in reports and documents that a registrant files with, or submits to, the Commission and in other public communications made by the registrant;

(3) Compliance with applicable governmental laws, rules, and regulations;

(4) The prompt internal reporting of violations of the code to an appropriate person or persons identified in the code; and

(5) Accountability for adherence to the code.

(c) Amendments: During the period covered by the report, there have not been any amendments to the provisions of the code of ethics.

(d) Waivers: During the period covered by the report, the registrant has not granted any express or implicit waivers from the provisions of the code of ethics.

(e) The Code of Ethics is not posted on registrant's website.

(f) A copy of the Code of Ethics is attached as an exhibit.

Item 3. Audit Committee Financial Expert.

(a) The registrant's Board of Trustees has determined that it does not have an audit committee financial expert serving on its audit committee. At this time, the registrant believes that the experience provided by each member of the audit committee together offer the registrant adequate oversight for the registrant's level of financial complexity.

Item 4. Principal Accountant Fees and Services. Not applicable.

Item 5. Audit Committee of Listed Companies. Not applicable.

Item 6. Schedule of Investments. Not applicable - schedule filed with Item 7.

Item 7. Financial Statements and Financial Highlights for Open-End Management Companies.

MERCATOR INTERNATIONAL OPPORTUNITY FUND

Institutional Class Ticker: MOPPX

Class A Ticker: MOOPX

SEMI-ANNUAL FINANCIAL STATEMENTS

JUNE 30, 2024

(UNAUDITED)

MERCATOR INVESTMENT MANAGEMENT, LLC

COLLABORATIVE INVESTMENT SERIES TRUST

1-800-869-1679

www.mercatormutualfunds.com

		Mercator International Opportunity Fund
Schedule of Investments
June 30, 2024 (Unaudited)
Shares			Value
COMMON STOCKS - 101.57%
Advertising Agencies - 1.32%
35,000		CyberAgent, Inc. (Japan)	$ 218,980
Airport & Air Services - 1.27%
700		Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR (Mexico)	209,664
Apparel Manufacturing - 1.22%
4,500		Hugo Boss AG (Germany)	201,322
Apparel Retail - 2.16%
30,000		Boozt AB (Sweden) *	358,075
Auto Manufactures - 3.26%
100,000		Aston Martin Lagonda Global Holdings PLC ADR (United Kingdom) *	181,671
2,000		Bayerische Motoren Werke AG ADR (Germany)	189,321
8,000		Subaru Corp. (Japan)	169,409
			540,401
Biotechnology - 4.20%
17,000		ALK-Abello A/S Class B (Denmark) *	373,774
2,000		CRISPR Therapeutics AG (Switzerland) *	108,020
40,000		Onward Medical NV (Netherlands) *	213,355
			695,149
Computer Hardware - 0.82%
528,000		Tobii AB (Sweden) *	135,401
Conglomerates - 1.33%
26,894		Cresud SACIF y A ADR (Argentina)	221,069
Consulting Services - 1.90%
15,000		Bengo4.com, Inc. (Japan)	315,313
Diagnostics & Research - 1.07%
15,492		Lumibird (France) *	176,714
Distribution - 1.54%
70,000		Ocado Group PLC (United Kingdom) *	255,667
Health Information Services - 2.74%
34,000		RaySearch Laboratories AB Class B (Sweden)	453,261

Information Technology Services - 3.68%
3,000		Adesso SE (Germany)	269,264
30,000		Comture Corp. (Japan)	339,998
			609,262
Internet Content & Information - 1.89%
1,000		Spotify Technology SA (Luxembourg) *	313,790
Internet Retail - 13.43%
600		MercadoLibre, Inc. (Uruguay) *	986,040
26,100		MonotaRO Co. Ltd. (Japan)	306,495
90,000		Rakuten Group, Inc. (Japan)	463,831
20,000		Zalando SE (Germany) *	468,910
			2,225,276
Luxury Goods - 5.59%
4,800		Brunello Cucinelli SpA (Italy)	480,692
85,000		Watches of Switzerland Group PLC (United Kingdom) *	444,886
			925,578
Medical Distribution - 1.29%
6,000		Amplifon SpA (Italy)	213,612
Medical Instruments & Supplies - 3.29%
14,000		Asahi Intecc Co., Ltd. (Japan)	196,093
12,000		Shofu, Inc. (Japan)	348,754
			544,847
Packaged Foods - 2.11%
10,000		Ajinomoto Co., Inc. (Japan)	350,306
Publishing - 3.20%
40,000		Future PLC (United Kingdom)	530,475
Scientific & Technical Instruments - 2.18%
8,000		Jeol Ltd. (Japan)	361,074
Semiconductor Equipment & Materials - 14.96%
8,000		Advantest Corp. (Japan)	319,194
16,000		Aixtron SE (Germany)	314,206
900		ASM International NV (Netherlands)	686,142
3,000		BE Semiconductor Industries NV (Netherlands)	501,738
1,000		Lasertec Corp. (Japan)	224,119
2,000		Tokyo Electron Ltd. (Japan)	433,458
			2,478,857
Semiconductors - 4.27%
150,000		Alphawave IP Group PLC (United Kingdom) *	273,076
2,500		Taiwan Semiconductor Manufacturing Co., Ltd. ADR (China)	434,525
			707,601
Software-Application - 11.49%

40,000		Accesso Technology Group PLC (United Kingdom) *	368,147
35,000		Materialise NV ADR (Belgium) *	175,350
10,000		Money Forward, Inc. (Japan)	335,029
3,000		Nemetschek SE (Germany)	295,131
7,000		Vitec Software Group AB Class B (Sweden)	362,978
450,000		ZOO Digital Group PLC (United Kingdom) *	366,946
			1,903,581
Software Infrastructure - 4.69%
340		Adyen NV (Netherlands) *	405,383
162,000		Boku, Inc. *	371,724
			777,107
Specialty Business Services - 1.45%
15,000		Japan Elevator Service Holdings Co.,Ltd. (Japan)	240,793
Specialty Industrial Machinery - 2.17%
1,500		Schneider Electric S.E. (France)	360,358
Specialty Retail - 3.05%
90,000		Mister Spex SE (Germany) *	281,475
60,000		Pets at Home Group PLC (United Kingdom)	224,074
			505,549
TOTAL COMMON STOCKS (Cost $16,004,436) - 101.57%	16,829,082
MONEY MARKET FUND - 28.66%
4,749,504		Huntington Conservative Deposit Account 5.12% **	4,749,504
TOTAL MONEY MARKET FUND (Cost $4,749,504) - 28.66%	4,749,504
TOTAL INVESTMENTS (Cost $20,753,940) - 130.23%	21,578,586
LIABILITIES LESS OTHER ASSETS (30.23)%	(5,009,135)
NET ASSETS - 100.00%	$ 16,569,451
* Non-income producing securities during the period.
**Variable rate security; the rate shown represents the yield at June 30, 2024.
ADR - American Depositary Receipt.
PLC - Public Limited Company
SE - Societas Europaea, Latin term means European Company.
SA - Société Anonyme, a French term for a public limited company.
SACIF y A - Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria.
AB - Aktiebolag, the Swedish term for "limited company" or "corporation".
AG - Aktiengesellschaft, a German term for a public limited company.
SpA - Società per azioni, an Italian term for a public limited company.
NV - Naamloze Vennootschap, a Dutch term for public limited company.
The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund
Statement of Assets and Liabilities
June 30, 2024 (Unaudited)
Assets:
Investments in Securities at Value (Cost $20,753,940)	$ 21,578,586
Cash		1,000
Receivables:
Dividends and Interest	34,826
Shareholder Subscriptions	17
Prepaid Expenses	20,751
Total Assets	21,635,180
Liabilities:
Payables:
Shareholder Redemptions	5,034,508
Due to Custodian	3,958
Adviser Fees	3,715
Administrative Fees	5,369
Distribution Plan (12b-1) Fees	1,243
Trustee Fees	1,200
Transfer Agent and Accounting Fees	2,625
Chief Compliance Officer Fees	750
Treasurer Fees	820
Accrued Expenses	11,541
Total Liabilities	5,065,729
Net Assets		$ 16,569,451
Net Assets Consist of:
Paid In Capital	$ 28,401,468
Distributable Earnings/(Accumulated Deficit)	(11,832,017)
Net Assets, for 1,572,768 Shares Outstanding	$ 16,569,451
Institutional Class Shares
Net Assets		$ 11,279,099
Shares of beneficial interest outstanding	1,068,101
Net asset value per share	$ 10.56
Class A Shares
Net Assets		$ 5,290,352
Shares of beneficial interest outstanding	504,667
Net asset value per share	$ 10.48
The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund
Statement of Operations
For the six months ended June 30, 2024 (Unaudited)
Investment Income:
Dividends (a)	$ 144,625
Interest		14,981
Total Investment Income	159,606
Expenses:
Advisory fees	88,782
Administrative fees	31,708
Shareholder Servicing fees	10,657
Transfer Agent and Accounting fees	15,750
Registration fees	15,321
Custody fees	18,294
Audit fees	9,500
Legal fees	10,252
Other expenses	5,365
Distribution Plan (12b-1) fees - Class A	10,439
Chief Compliance Officer fees	4,500
Trustee fees	2,400
Printing and Mailing fees	1,431
Treasurer Fees	1,343
Insurance fees	378
Total Expenses	226,120
Less fees waived and expenses reimbursed by the Adviser	(71,887)
Net Expenses	154,233
Net Investment Gain	5,373
Realized and Unrealized Gain/(Loss) on Investments:
Realized Loss on Investments	(1,187,888)
Net Change in Unrealized Appreciation on Investments	276,260
Net Realized and Unrealized Loss on Investments	(911,628)
Net Decrease in Net Assets Resulting from Operations	$ (906,255)
(a) Net of Foreign withholding taxes of $20,109.
The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund
Statements of Changes in Net Assets
		(Unaudited)
		Six Months
		Ended		Year Ended
		6/30/2024		12/31/2023
Increase/(Decrease) in Net Assets From Operations:
Net Investment Gain/(Loss)	$ 5,373		$ (110,107)
Net Realized Loss on Investments	(1,187,888)		(3,122,304)
Unrealized Appreciation on Investments	276,260		5,206,618
Net Increase/(Decrease) in Net Assets Resulting from Operations	(906,255)		1,974,207
Distributions:
Distributions to Shareholders - Institutional Class	-		-
Distributions to Shareholders - Class A	-		-
Total Distributions	-		-
Capital Share Transactions
Institutional Class	(2,293,058)		(1,501,400)
Class A		(2,447,339)		614,265
Net Decrease in Net Assets from Capital Share Transactions	(4,740,397)		(887,135)
Total Increase/(Decrease) in Net Assets	(5,646,652)		1,087,072
Net Assets:
Beginning of Year/Period	22,216,103		21,129,031
End of Year/Period	$ 16,569,451		$ 22,216,103
The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund Institutional Class
Financial Highlights
Selected data for a share outstanding throughout the year/period.
		(Unaudited)
		Six Months		Year	Year		Year	Year		Year
		Ended		Ended	Ended		Ended	Ended		Ended
		6/30/2024		12/31/2023	12/31/2022		12/31/2021	12/31/2020		12/31/2019
Net Asset Value at Beginning of Year/Period	$ 11.00		$ 9.92	$ 17.52		$ 16.29	$ 10.88		$ 7.84
Gain/(Loss) From Investment Operations:
Net Investment Gain/(Loss) *	-	^	(0.04)	(0.08)		(0.15)	(0.12)		(0.03)
Net Gain/(Loss) on Securities (Realized and Unrealized)	(0.44)		1.12	(7.52)		2.47	6.19		3.07
Total from Investment Operations	(0.44)		1.08	(7.60)		2.32	6.07		3.04
Distributions:
Net Investment Income	-		-	-		-	-		-
Realized Gains	-		-	(0.00)	^	(1.09)	(0.64)		-
Return of Capital	-		-	-		-	(0.02)		-
Total from Distributions	-		-	(0.00)		(1.09)	(0.66)		-
Net Asset Value at End of Year/Period	$ 10.56		$ 11.00	$ 9.92		$ 17.52	$ 16.29		$ 10.88
Total Return **	(4.00)%	(b)	10.89%	(43.37)%		14.27%	55.77%		38.78%
Ratios/Supplemental Data:
Net Assets at End of Year/Period (Thousands)	$ 11,279		$ 14,140	$ 14,503		$ 51,453	$ 21,028		$ 11,878
Ratio of Expenses to Average Net Assets
Before Reimbursement	2.02%	(a)	1.94%	1.94%		1.67%	2.16%	(d)	2.81%
After Reimbursement (c)	1.40%	(a)	1.40%	1.40%		1.40%	1.37%	(d)	1.19%
Ratio of Net Investment Gain/(Loss) to Average Net Assets
After Reimbursement (c)	0.09%	(a)	(0.43)%	(0.69)%		(0.81)%	(0.96)%		(0.27)%
Portfolio Turnover	17.67%	(b)	49.39%	43.94%		60.78%	51.26%		25.52%
* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period.
** Assumes reinvestment of dividends.
^ Amount is less than $0.005
(a) Annualized.
(b) Not annualized.
(c) Expense waived or reimbursed reflect reductions to total expenses, as discussed in the notes to the financial statements.
(d) Expenses includes 0.20% of administrative fees which were voluntarily waived by the administrator for the year ended December 31, 2020. These amounts would increase the net investment loss ratio or decrease the net investment income ratio, as applicable, had such reductions not occurred.

The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund Class A
Financial Highlights
Selected data for a share outstanding throughout the year/period.
		(Unaudited)
		Six Months		Year	Year		Year	Year		Period
		Ended		Ended	Ended		Ended	Ended		Ended
		6/30/2024		12/31/2023	12/31/2022		12/31/2021	12/31/2020		12/31/2019	(c)
Net Asset Value, at Beginning of Year/Period	$ 10.92		$ 9.87	$ 17.45		$ 16.26	$ 10.88		$ 9.74
Gain/(Loss) From Investment Operations:
Net Investment Loss *	(0.00)	^	(0.06)	(0.08)		(0.18)	(0.14)		(0.02)
Net Gain/(Loss) on Securities (Realized and Unrealized)	(0.44)		1.11	(7.50)		2.46	6.18		1.16
Total from Investment Operations	(0.44)		1.05	(7.58)		2.28	6.04		1.14
Distributions:
Net Investment Income	-		-	-		-	-		-
Realized Gains	-		-	(0.00)	^	(1.09)	(0.64)		-
Return of Capital	-		-	-		-	(0.02)		-
Total from Distributions	-		-	(0.00)		(1.09)	(0.66)		-
Net Asset Value, at End of Year/Period	$ 10.48		$ 10.92	$ 9.87		$ 17.45	$ 16.26		$ 10.88
Total Return **	(4.03)%	(b)	10.64%	(43.43)%		14.05%	55.50%		11.70%	(b)
Ratios/Supplemental Data:
Net Assets at End of Year/Period (Thousands)	$ 5,290		$ 8,076	$ 6,626		$ 6,339	$ 3,994		$ 1,446
Ratio of Expenses to Average Net Assets
Before Reimbursement	2.32%	(a)	2.25%	2.07%		1.69%	2.41%	(e)	2.60%	(a)
After Reimbursement (d)	1.55%	(a)	1.55%	1.55%		1.55%	1.53%	(e)	1.44%	(a)
Ratio of Net Investment Loss to Average Net Assets
After Reimbursement (d)	(0.01)%	(a)	(0.61)%	(0.70)%		(0.93)%	(1.13)%		(0.64)%	(a)
Portfolio Turnover	17.67%	(b)	49.39%	43.94%		60.78%	51.26%		25.52%	(b)
* Per share net investment loss has been determined on the basis of average shares outstanding during the period.
** Assumes reinvestment of dividends.
^ Amount is less than $0.005
(a) Annualized.

(b) Not annualized.
(c) For the period August 30, 2019 (commencement of investment operation) through December 31, 2019.
(d) Expense waived or reimbursed reflect reductions to total expenses, as discussed in the notes to the financial statements.
(e) Expenses includes 0.20% of administrative fees which were voluntarily waived by the administrator for the year ended December 31, 2020. These amounts would increase the net investment loss ratio or decrease the net investment income ratio, as applicable, had such reductions not occurred.
The accompanying notes are an integral part of these financial statements.

Mercator International Opportunity Fund

NOTES TO FINANCIAL STATEMENTS

june 30, 2024 (unaudited)

1. ORGANIZATION

The Mercator International Opportunity Fund (the "Fund") is a diversified series of the Collaborative Investment Series Trust (the "Trust"). The Trust is a Delaware statutory trust and is registered as an open-end investment company, under the Investment Company Act of 1940, as amended (the "1940 Act"). The Trust is authorized to issue an unlimited number of shares of beneficial interest of separate series without par value. The Fund, along with additional series are currently authorized by the Board of Trustees (the "Board" or "Trustees"). The Fund commenced investment operations on April 2, 2018. The Board has authorized two classes of shares: Institutional Class and Class A shares. Each class is subject to different expenses. Each class differs as to distribution fees, such that Institutional Class shares have no distribution fees but there is a higher minimum initial investment required. See Note 4 to the financial statements for further information regarding the fees for each Class of shares offered by the Fund.

The Fund's investment objective is long-term growth of capital.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the Fund's significant accounting policies. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

As an investment company, as defined in Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2013-08, the Fund follows accounting and reporting guidance under FASB Accounting Standards Codification Topic 946, "Financial Services - Investment Companies."

SECURITY VALUATIONS: All investments in securities are recorded at their estimated fair value, as described in Note 3.

SECURITY TRANSACTION TIMING: For financial reporting purposes, investment transactions are accounted for on the trade date. Dividend income and distributions to shareholders are recognized on the ex-dividend date. Non-cash dividend income is recorded at fair market value of the securities received. Interest income is recognized on an accrual basis. The Fund uses the specific identification method in computing gain or loss on sale of investment securities. Discounts and premiums on securities purchased are accreted or amortized over the life of the respective securities using the effective interest method. Withholding taxes on foreign dividends have been provided for in accordance with the Fund's understanding of the appropriate country's rules and tax rates.

FEDERAL INCOME TAXES: The Fund makes no provision for federal income or excise tax. The Fund intends to qualify each year as a regulated investment company ("RIC") under subchapter M of the Internal Revenue Code of 1986, as amended, by complying with the requirements applicable to RICs and by distributing substantially all of its taxable income. The Fund also intends to distribute sufficient net investment income and net capital gains, if any, so that it will not be subject to excise tax on undistributed income and gains. If the required amount of net investment income or gains is not distributed, the Fund could incur a tax expense. Therefore, no federal income tax or excise provision is required.

The Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management has analyzed the Fund's tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2020-2022) or expected to be taken in the Fund's 2023 tax returns. The Fund identifies its major tax jurisdiction as U.S. federal, however the Fund is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the six months ended June 30, 2024, the Fund did not incur any interest or penalties.

DISTRIBUTIONS TO SHAREHOLDERS: The Fund typically distributes substantially all of its net investment income and realized gains in the form of dividends and taxable capital gains to its shareholders. The Fund intends to distribute dividends and capital gains at least annually. Distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. The treatment for financial reporting purposes of distributions made to shareholders during the year from net investment income or net realized capital gains may differ from their ultimate treatment for federal income taxes purposes. These differences are caused primarily by differences in the timing of the recognition of certain components of income, expense or realized capital gain for federal income tax purposes. Where such differences are permanent in nature, they are reclassified in the components of the net assets based on their ultimate characterization for federal income tax purposes. Any such reclassifications will have no effect on net assets, results of operations or net asset value ("NAV") per share of the Fund.

FOREIGN CURRENCY: Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments. Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.

FOREIGN TAXES: The Fund may be subject to foreign taxes related to foreign income received (a portion of which may be reclaimable), capital gains on the sale of securities and certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable regulations and rates that exist in the foreign jurisdictions in which the Fund invests.

USE OF ESTIMATES: The preparation of financial statements in conformity with GAAP 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.

SHARE VALUATION: The Fund's NAV is calculated once daily, at the close of regular trading hours on the New York Stock Exchange (the "NYSE") (generally 4:00 p.m. Eastern time) on each day the NYSE is open. The net assets are determined by totaling the value of all portfolio securities, cash and other assets held by the Fund, and subtracting from that total all liabilities, including accrued expenses. The total net assets are divided by the total number of shares outstanding to determine the NAV of each share.

EXPENSES: Expenses incurred by the Trust that do not relate to a specific fund of the Trust will be allocated to the individual funds based on each fund's relative net assets or another appropriate basis (as determined by the Trustees).

SHARE CLASS ACCOUNTING: Investment income, common expenses and realized/unrealized gains (losses) on investments are allocated to the two classes of shares of the Fund on the basis of the daily net assets of each class. Fees relating to a specific class are charged directly to that share class.

3. SECURITY VALUATIONS

Processes and Structure

The Board has adopted guidelines for valuing securities including in circumstances in which market quotes are not readily available and has delegated to the Fund's adviser, Mercator Investment Management, LLC (the "Adviser"), the responsibility for determining fair value prices as the "Valuation Designee". The Adviser may also enlist third party consultants such as an audit firm or financial officer of a security issuer on an as-needed basis to assist in determining a security-specific fair value. The Board reviews the execution of this process and the resultant fair value prices at least quarterly to assure the process produces reliable results.

Fair Value Pricing Policy

If market quotations are not readily available, the security will be valued at fair value (the amount which the owner might reasonably expect to receive for the security upon its current sale) as determined in good faith by the Adviser ("Fair Value Pricing") as the "Valuation Designee", subject to review by the Board. The Adviser must use reasonable diligence in determining whether market quotations are readily available. If, for example, the Adviser determines that one source of market value is unreliable, the Adviser must diligently seek market quotations from other sources, such as other brokers or pricing services, before concluding that market quotations are not available. Fair Value Pricing is not permitted when market quotations are readily available.

Fixed income securities generally are valued using market quotations provided by a pricing service. If the Adviser decides that a price provided by the pricing service does not accurately reflect the fair market value of the securities, when prices are not readily available from a pricing service, or when restricted or illiquid securities are being valued, securities are valued at fair value as determined in good faith by the Adviser, in conformity with guidelines adopted by and subject to review of the Board. Short-term investments in fixed income securities with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity, may be valued by using the amortized cost method of valuation, when the Board has determined that it will represent fair value.

Fair Value Measurements

The Fund values its investments at fair value. GAAP defines fair value as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date and also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. The three-tier hierarchy seeks to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the Fund's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

Equity securities (domestic and foreign common stocks). Securities traded on a national securities exchange (or reported on the NASDAQ national market) are stated at the last reported sales price on the day of valuation. To the extent these securities are actively traded, and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate. Certain foreign securities may be fair valued using a pricing service that considers the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, exchange traded funds, and the movement of the certain indexes of securities based on a statistical analysis of the historical relationship and that are categorized in Level 2. Other equities traded on inactive markets or valued by reference to similar instruments are also categorized in Level 2.

Hierarchy of Fair Value Inputs

The Fund utilizes various methods to measure the fair value of most of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows:

·	Level 1. Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has 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 on 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 that relevant observable inputs are not available, representing the company's own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that 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 the security.

The following table presents information about the Fund's investments measured at fair value as of June 30, 2024, by major security type:

	Financial Instruments-Assets
Categories	Level 1	Level 2	Level 3	Fair Value
Common Stocks *	$ 16,829,082	$ -	$ -	$ 16,829,082
Money Market Fund	4,749,504	-	-	4,749,504
Total	$ 21,578,586	$ -	$ -	$ 21,578,586

* Industry classifications of these categories are detailed on the Fund's Schedule of Investments.

During the six months ended June 30, 2024, there were no transfers between Level 3 in the Fund. The Fund did not hold any Level 3 securities during the period presented.

4. RELATED PARTY TRANSACTIONS

INVESTMENT ADVISER: Under the terms of a management agreement between the Trust and the Adviser, with respect to the Fund (the "Agreement"), the Adviser, subject to the oversight of the Board, provides or arranges to be provided to the Fund such investment advice as its deems advisable and will furnish or arrange to be furnished a continuous investment program for the Fund consistent with the Fund's investment objective and policies. Under the Agreement, the Fund pays Adviser an annual advisory fee of 0.84% of the Fund's daily average net assets. The Agreement remained in effect for an initial two-year period and may be renewed by the Board annually thereafter. For the six months ended June 30, 2024, the Adviser earned $88,782 in advisory fees from the Fund.

The Adviser contractually agreed to reduce its fees and to reimburse expenses, at least through April 30, 2025, to ensure that total annual Fund operating expenses after fee waiver and reimbursement (exclusive of any front-end or contingent deferred loads, taxes, leverage interest, borrowing interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, acquired (underlying) fund fees and expenses or extraordinary expenses such as litigation) will not exceed 1.40% and 1.55% of the average daily net assets attributable to the Institutional Class and Class A shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years of the date on which the waiver or reimbursement occurs, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment.

For the six months ended June 30, 2024, the Adviser waived advisory fees of $71,887. As of December 31, 2023, the unreimbursed amounts paid or waived by the Adviser on behalf of the Fund is $390,321, subject to future recoupment as follows:

Recoverable Through		Amount Recoverable
December 31, 2024		$110,876
December 31, 2025		$145,147
December 31, 2026		$134,298

As of June 30, 2024, the Fund owed the Adviser $3,715.

On April 18, 2019, the Adviser obtained a Line of Credit from Collaborative Fund Services, LLC ("CFS") in the amount of $200,000. The Line of Credit had a Maturity Date of the earlier of February 1, 2021 or the date the Adviser ceases to conduct business with CFS. On March 22, 2021, the Maturity Date on the Line of Credit was extended to the earlier of February 1, 2023 or the date the Adviser ceases to conduct business with CFS. On February 1, 2023, the Maturity Date on the Line of Credit was extended to the earlier of February 28, 2025 or the date the Adviser ceases to conduct business with CFS. Effective September 9, 2021, the Line of Credit was assigned to Belpointe Services, LLC. ("Belpointe"), an affiliate of CFS. As of June 30, 2024, the unpaid balance owed by the Adviser to Belpointe is $52,890.

ADMINISTRATOR: Effective June 1, 2019, the Trust, on behalf of the Fund, entered into an Administration Agreement with CFS. CFS serves as the Trust's Administrator. CFS is paid an annual fee of 0.35% of the Fund's average daily net assets. Greg Skidmore is the President of CFS, and is also an Interested Trustee. For the six months ended June 30, 2024, CFS earned $31,708 for these services. As of June 30, 2024, the Fund owed CFS $5,369.

COMPLIANCE SERVICES: Beacon Compliance Consulting provides compliance services to the Trust and receives a monthly fee paid by the Fund for these services.

TRANSFER AGENT AND FUND ACCOUNTANT: Mutual Shareholder Services, LLC ("MSS"), the Fund's transfer agent and fund accountant, receives an annual fee from the Fund of $11.50 per shareholder for transfer agency services. For its services as fund accountant, MSS receives an annual fee from the Fund based on the average net assets of the Fund.

DISTRIBUTION (12B-1) PLAN AND SHAREHOLDER SERVICING FEES: The Trust, with respect to the Fund, adopted a distribution plan in accordance with Rule 12b-1 ("Distribution Plan") under the 1940 Act for Class A shares with Arbor Court Capital, LLC ("Distributor"). Pursuant to the Distribution Plan, the Fund compensates the Distributor for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Fund's Class A shares. The Distribution Plan provides that the Fund may pay annually up to 0.25% of the average daily net assets of the Fund's Class A. The Distributor is an affiliated entity to the Trust's transfer agent and fund accountant. For the six months ended June 30, 2024, the Fund accrued $10,439 for Class A. The Fund owes the Distributor $1,243 at June 30, 2024 for Distribution fees.

Shareholder servicing fees may be in addition to the Rule 12b-1 fees and any sales charges. These payments are generally made to financial intermediaries that provide shareholder or administrative services, or marketing support. Certain administrative fees, such as sub-transfer agency or sub-administrative fees, may be payable by the Fund. Marketing support may include access to sales meetings, sales representatives and financial intermediary management representatives, inclusion of the Fund on a sales list, including a preferred or select sales list, or other sales programs.

5. INVESTMENT TRANSACTIONS

Investment transactions, excluding short-term investments, for the six months ended June 30, 2024, were as follows:

Purchases	$ 3,605,521
Sales	$ 8,931,108

6. CAPITAL SHARE TRANSACTIONS

At June 30, 2024, there were unlimited shares authorized at no par value for the Fund. Transactions in capital for the six months ended June 30, 2024 and the year ended December 31, 2023 were as follows:

	Institutional Class	January 1, 2024 through June 30, 2024	January 1, 2023 through December 31, 2023
		Shares	Amount	Shares	Amount
	Shares Sold	168,936	$ 1,809,972	564,561	$ 5,862,932
	Shares Reinvested	-	-	-	-
	Shares Redeemed	(386,739)	(4,103,030)	(740,059)	(7,364,332)
	Net Increase	(217,803)	$ (2,293,058)	(175,498)	$ (1,501,400)
Class A	January 1, 2024 through June 30, 2024	January 1, 2023 through December 31, 2023
	Shares	Amount	Shares	Amount
Shares Sold	150,514	$ 1,592,804	202,463	$ 2,043,209
Shares Reinvested	-	-	-	-
Shares Redeemed	(385,161)	(4,040,143)	(134,123)	(1,428,944)
Net Increase/(Decrease)	(234,647)	$ (2,447,339)	68,340	$ 614,265

7. COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Fund may enter into contracts that may contain a variety of representations and warranties and provide general indemnifications. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, management considers the risk of loss from such claims to be remote.

8. TAX MATTERS

For federal income tax purposes, the cost of investments owned at December 31, 2023 is $22,561,474. As of December 31, 2023, the gross unrealized appreciation on a tax basis totaled $4,364,334 and the gross unrealized depreciation totaled $3,922,861 for a net unrealized appreciation of $441,473.

The difference between the book cost and tax cost of investments of the Fund represents disallowed wash sales for tax purposes.

As of December 31, 2023, the components of distributable earnings/(accumulated deficit) on a tax basis were as follows:

Unrealized appreciation (depreciation)	$ 441,473
Post-October loss deferral	(982,666)
Capital Loss Carryforwards	(10,384,569)
Accumulated Deficit	$ (10,925,762)

As of December 31, 2023, the Fund recorded permanent book/tax differences of $110,107 from paid in capital to distributable earnings due to net operating losses.

Under current tax law, net capital losses realized after October 31 and net ordinary losses incurred after December 31 may be deferred and treated as occurring on the first day of the following fiscal year. The Fund's carryforward losses, post-October losses and late year losses are determined only at the end of each fiscal year. As of December 31, 2023, the Fund elected to defer post-October losses as indicated in the chart below.

Post-October Losses Deferred

$ 982,666

As of December 31, 2023, the Fund has capital loss carryforwards available for federal income tax purposes as follows:

Short-term non-expiring	$ 7,129,089
Long-term non-expiring	3,255,480
Total	$ 10,384,569

To the extent these loss carryforwards are used to offset future capital gains, it is probable that the amount offset will not be distributed to shareholders.

No distributions were paid for the six months ended June 30, 2024.

No distributions were paid for the year ended December 31, 2023.

9. BENEFICIAL OWNERSHIP

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the Fund under Section 2(a)(9) of the 1940 Act. As of June 30, 2024, Charles Schwab & Co., Inc. held in omnibus accounts for the benefit of others approximately 99% of the voting securities of the Fund and may be deemed to control the Fund.

10. MARKET RISK

Overall market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions and depressions, or other events could have a significant impact on the Fund and its investments and may impair market liquidity, thereby increasing liquidity risk. The Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates can have the same impact on all types of securities and instruments.

11. SUBSEQUENT EVENTS

Management has evaluated the impact of all subsequent events on the Fund through the issuance of these financial statements and has noted no additional events requiring disclosure or recognition.

Mercator International Opportunity Fund

ADDITIONAL INFORMATION

June 30, 2024 (UNAUDITED)

PROXY VOTING

The Fund's proxy voting policies, procedures and voting records relating to common stock securities in the Fund's investment portfolio, for the most recent twelve month period ended June 30, are available without charge, upon request, by calling the Fund's toll-free telephone number 1-800-869-1679. The Fund will send this information within three business days of receipt of the request, by first class mail or other means designed to ensure prompt delivery. The Fund's proxy information is also available on the SEC's website at http://www.sec.gov.

Renewal of the Investment Advisory Agreement with Mercator Investment Management, LLC

In connection with the special meeting of the Board of Trustees (the "Board") of Collaborative Investment Series Trust (the "Trust") held on November 28, 2023 (the "Meeting"), the Board, including a majority of the Trustees who are not "interested persons" as that term is defined in the Investment Company Act of 1940, as amended, discussed the renewal of an investment advisory agreement between Mercator Investment Management, LLC ("MIM") and the Trust, with respect to the Mercator International Opportunity Fund (the "Fund"). In considering the renewal of the investment advisory agreement, the Board received materials specifically relating to the investment advisory agreement.

The Board reviewed and discussed the materials that were provided in advance of the Meeting and deliberated on the renewal of the investment advisory agreement between MIM and the Trust. The Board relied upon the advice of independent legal counsel and its own business judgment in determining the material factors to be considered in evaluating the investment advisory agreement on behalf of the Fund and the weight to be given to each factor considered. The conclusions reached by the Board were based on a comprehensive evaluation of all of the information provided and were not the result of any one factor. Moreover, each Trustee may have afforded different weight to the various factors in reaching his or her conclusions with respect to the renewal of the investment advisory agreement.

Nature, Extent and Quality of Services. The Board noted that MIM was an investment adviser with $21 million in assets under management as of June 30, 2023. The Board reviewed the background information of the key personnel responsible for the Fund. The Board discussed the services MIM provided the Fund, which included stock-selection, research, in-depth analysis of overseas companies, compliance and monitoring of international economies and political developments. The Board noted that MIM used pre and post trade compliance checklist and reports to ensure the Fund was in compliance with its investment limitations. The Board reviewed that MIM had to limit the number of broker-dealers it can work with due to the size of the Fund, and that the executions of the orders were carefully monitored against the daily price movements and volume by the trader and portfolio manager. The Board noted that MIM reported no material compliance issues, no SEC or state regulator examination or investigation nor any material litigation or administrative action in the past 36 months. The Board concluded that it expected MIM to continue to provide satisfactory service to the Fund and its shareholders.

Performance. The Board observed that the Fund underperformed its benchmark index, MSCI EAFE Index, across all periods. The Board acknowledged MIM's assertion that the Fund encountered a challenging scenario where international small and mid-cap growth stocks had been notably oversold despite robust underlying business fundamentals. The Board noted MIM's belief that the Fund was due for recovery once the investors' interest in international growth stock returned with the sales and earnings up and valuations down. The Board concluded that the Fund's performance was acceptable and would continue to monitor the Fund's performance.

Fees and Expenses. The Board noted that the Fund's advisory fee of 0.84% and net expense ratio of 1.58% were within the ranges of its peer group provided by MIM, below the highs of each group. After a discussion, the Board concluded that the advisory fee was not unreasonable.

Profitability. The Board reviewed the profitability analysis provided by MIM and noted that MIM received a reasonable profit with regard to its management of the Fund. After discussion, the Board determined that excessive profitability was not an issue for MIM at this time.

Economies of Scale. The Board considered whether economies of scale would be realized in connection with the services provided to the Fund by MIM. The Board discussed MIM's position on breakpoints and noted MIM would continue to monitor the Fund's asset levels and consider breakpoints as the Fund continued to grow.

Conclusion. Having requested and received such information from MIM as the Board believed to be reasonably necessary to evaluate the terms of the investment advisory agreement, and as assisted by the advice of independent counsel, the Board determined that approval of the renewal of the investment advisory agreement was in the best interests of the Fund and its shareholders.

PRIVACY NOTICE

COLLABORATIVE INVESTMENT SERIES TRUST

FACTS	WHAT DOES THE COLLABORATIVE INVESTMENT SERIES TRUST DO WITH YOUR PERSONAL INFORMATION?
Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	The types of personal information we collect and share depends on the product or service that you have with us. This information can include: ●Social Security number and wire transfer instructions ●account transactions and transaction history ●investment experience and purchase history When you are no longer our customer, we continue to share your information as described in this notice.
How?	All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons the Collaborative Investment Series Trust chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information:	Do we share information?	Can you limit sharing?
For our everyday business purposes - such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus.	YES	NO
For our marketing purposes - to offer our products and services to you.	NO	We don't share
For joint marketing with other financial companies.	NO	We don't share
For our affiliates' everyday business purposes - information about your transactions and records.	NO	We don't share
For our affiliates' everyday business purposes - information about your credit worthiness.	NO	We don't share
For our affiliates to market to you	NO	We don't share
For non-affiliates to market to you	NO	We don't share
QUESTIONS?	Call 1-800-595-4866

What we do:
How does the Collaborative Investment Series Trust protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. Our service providers are held accountable for adhering to strict policies and procedures to prevent any misuse of your nonpublic personal information.
How does the Collaborative Investment Series Trust collect my personal information?	We collect your personal information, for example, when you ●open an account or deposit money ●direct us to buy securities or direct us to sell your securities ●seek advice about your investments We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can't I limit all sharing?	Federal law gives you the right to limit only: ●sharing for affiliates' everyday business purposes - information about your creditworthiness. ●affiliates from using your information to market to you. ●sharing for nonaffiliates to market to you. State laws and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates	Companies related by common ownership or control. They can be financial and non-financial companies. ●The Collaborative Investment Series Trust does not share with affiliates.
Non-affiliates	Companies not related by common ownership or control. They can be financial and non-financial companies. ●The Collaborative Investment Series Trust does not share with non-affiliates so they can market to you.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. ●The Collaborative Investment Series Trust doesn't jointly market.

Investment Adviser

Mercator Investment Management, LLC

Distributor

Arbor Court Capital, LLC

Transfer and Dividend Disbursing Agent

Mutual Shareholder Services, LLC

Custodian

U.S. Bank N.A.

Legal Counsel

Thompson Hine LLP

Independent Registered Public Accounting Firm

Cohen & Company, Ltd.

This report is provided for the general information of the Fund's shareholders. It is not authorized for distribution unless preceded or accompanied by an effective prospectus, which contains more complete information about the Fund.

Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies. Not applicable.

Item 9. Proxy Disclosures for Open-End Management Investment Companies. Not applicable.

Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies. The information is included as part of the material filed under Item 7 of this Form.

Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract. The information is included as part of the material filed under Item 7 of this Form.

Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Funds. Not applicable.

Item 13. Portfolio Managers of Closed-End Funds. Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Funds. Not applicable.

Item 15.Submission of Matters to a Vote of Security Holders.

The registrant has not adopted procedures by which shareholders may recommend nominees to the registrant's board of trustees.

Item 16. Controls and Procedures.

(a) The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing of this report.

(b) There were no significant changes in the registrant's internal control over financial reporting that occurred during the registrant's second fiscal half-year that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. Not applicable.

Item 18. Recovery of Erroneously Awarded Compensation.

(a) Not applicable.

(b) Not applicable.

Item 19. Exhibits.

(a)(1) EX-99.CODE ETH. Not applicable.

(a)(2) EX-99.CERT. Filed herewith.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.

(b) EX-99.906CERT. 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.

Collaborative Investment Series Trust

By /s/ Gregory Skidmore

Gregory Skidmore

Trustee and President/Chief Executive Officer of the Trust

Date: August 29, 2024

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/ Gregory Skidmore

Gregory Skidmore

Trustee and President/Chief Executive Officer of the Trust

Date: August 29, 2024

By /s/ Bill McCormick

Bill McCormick

Treasurer/Chief Financial/Principal Accounting Officer of the Trust

Date: August 29, 2024

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