Absolute
Select
Value
ETF
Schedule
of
Investments
December
31,
2023
(Unaudited)
Common
Stocks
—
82.11%
Shares
Fair
Value
Canada
—
15.86%
Energy
—
5.53%
Enbridge,
Inc.
119,881
$
4,318,113
Materials
—
10.33%
Agnico
Eagle
Mines
Ltd.
112,927
6,194,046
Franco-Nevada
Corp.
16,810
1,862,716
8,056,762
Total
Canada
12,374,875
Ireland
—
4.85%
Health
Care
—
4.85%
Medtronic,
PLC
45,842
3,776,464
Total
Ireland
3,776,464
United
Kingdom
—
4.71%
Consumer
Staples
—
4.71%
Unilever
PLC
-
ADR
75,726
3,671,196
Total
United
Kingdom
3,671,196
United
States
—
56.69%
Communications
—
7.98%
Comcast
Corp.,
Class
A
78,048
3,422,405
Verizon
Communications,
Inc.
74,313
2,801,600
6,224,005
Energy
—
13.32%
Berkshire
Hathaway,
Inc.,
Class
B
(a)
22,511
8,028,773
EOG
Resources,
Inc.
19,448
2,352,236
10,381,009
Financials
—
9.90%
Loews
Corp.
71,621
4,984,106
Travelers
Companies,
Inc.
(The)
14,372
2,737,722
7,721,828
Health
Care
—
4.72%
Merck
&
Co.,
Inc.
33,790
3,683,786
Materials
—
10.76%
Corteva,
Inc.
44,793
2,146,481
DuPont
de
Nemours,
Inc.
57,111
4,393,549
International
Flavors
&
Fragrances,
Inc.
22,970
1,859,881
8,399,911
Real
Estate
—
6.67%
Crown
Castle
International
Corp.
20,110
2,316,471
Equity
Commonwealth
150,357
2,886,854
5,203,325
Absolute
Select
Value
ETF
Schedule
of
Investments
(continued)
December
31,
2023
(Unaudited)
Common
Stocks
—
82.11%
(continued)
Shares
Fair
Value
United
States
—
56.69%
(continued)
Technology
—
3.34%
Cisco
Systems,
Inc.
51,545
$
2,604,053
Total
United
States
44,217,917
Total Common
Stocks
(Cost $61,821,665)
64,040,452
U.S.
Government
&
Agencies
—
16.91%
Principal
Amount
United
States
Treasury
Bill
5.26%,
6/13/2024
(b)
$
3,000,000
2,931,457
United
States
Treasury
Note
0.25%,
3/15/2024
3,000,000
2,970,147
United
States
Treasury
Note
0.25%,
6/15/2024
3,000,000
2,934,557
United
States
Treasury
Note
0.38%,
9/15/2024
2,000,000
1,936,941
United
States
Treasury
Note
0.63%,
10/15/2024
2,500,000
2,418,061
TOTAL
U.S.
GOVERNMENT
&
AGENCIES
(Cost $13,222,062)
13,191,163
Total
Investments
—
99.02%
(Cost
$75,043,727)
77,231,615
Other
Assets
in
Excess
of
Liabilities
—
0.98%
761,477
Net
Assets
—
100.00%
$
77,993,092
(a)
Non-income
producing
security.
(b)
The
rate
shown
represents
effective
yield
at
time
of
purchase.
ADR
-
American
Depositary
Receipt