Unified Series Trust NPORT-P Oneascent International Equity Etf (May 2024 report)

OneAscent

Large

Cap

Core

ETF

Schedule

of

Investments

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

98.15%

Shares

Fair

Value

Communications

—

10.47%

Airbnb,

Inc.,

Class

A

(a)

2,439‌

$

353,484‌

Alphabet,

Inc.,

Class

C

(a)

13,870‌

2,412,825‌

Alphabet,

Inc.,

Class

A

(a)

16,217‌

2,797,432‌

AT&T,

Inc.

28,050‌

511,071‌

Booking

Holdings,

Inc.

275‌

1,038,496‌

Charter

Communications,

Inc.,

Class

A

(a)

943‌

270,754‌

Comcast

Corp.,

Class

A

18,690‌

748,161‌

DoorDash,

Inc.,

Class

A

(a)

1,252‌

137,858‌

Expedia

Group,

Inc.

(a)

1,339‌

151,120‌

Frontier

Communications

Parent,

Inc.

(a)

4,540‌

121,036‌

IAC,

Inc.

(a)

3,467‌

172,622‌

Lyft,

Inc.

(a)

6,617‌

103,291‌

Paramount

Global,

Class

B

11,858‌

141,229‌

Pinterest,

Inc.,

Class

A

(a)

2,965‌

123,018‌

Roblox

Corp.,

Class

A

(a)

2,615‌

87,916‌

Roku,

Inc.

(a)

1,716‌

98,498‌

T-Mobile

US,

Inc.

2,530‌

442,649‌

Trade

Desk,

Inc.

(The),

Class

A

(a)

1,343‌

124,604‌

Uber

Technologies,

Inc.

(a)

7,126‌

460,055‌

VeriSign,

Inc.

(a)

1,353‌

235,855‌

Verizon

Communications,

Inc.

16,733‌

688,563‌

Warner

Bros.

Discovery,

Inc.

(a)

24,179‌

199,235‌

Zillow

Group,

Inc.,

Class

C

(a)

1,900‌

77,805‌

11,497,577‌

Consumer

Discretionary

—

8.57%

Amazon.com,

Inc.

(a)

23,599‌

4,163,808‌

Home

Depot,

Inc.

(The)

3,791‌

1,269,492‌

Lennar

Corp.,

Class

B

3,516‌

514,250‌

Lowe's

Cos.,

Inc.

2,540‌

562,077‌

McDonald's

Corp.

3,588‌

928,897‌

NVR,

Inc.

(a)

67‌

514,609‌

Ralph

Lauren

Corp.

2,790‌

521,395‌

Tesla,

Inc.

(a)

5,247‌

934,386‌

9,408,914‌

Consumer

Staples

—

6.81%

Bunge

Global

S.A.

778‌

83,705‌

Coca-Cola

Co.

(The)

19,437‌

1,223,171‌

Costco

Wholesale

Corp.

1,515‌

1,226,983‌

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

1,924‌

237,345‌

Mondelez

International,

Inc.,

Class

A

9,219‌

631,778‌

PepsiCo,

Inc.

6,819‌

1,179,005‌

Procter

&

Gamble

Co.

(The)

8,596‌

1,414,385‌

Seaboard

Corp.

112‌

374,207‌

Wal-Mart

Stores,

Inc.

16,743‌

1,101,020‌

7,471,599‌

Energy

—

3.90%

Chevron

Corp.

11,353‌

1,842,592‌

OneAscent

Large

Cap

Core

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

98.15%

-

continued

Shares

Fair

Value

Energy

—

3.90%

-

continued

Enphase

Energy,

Inc.

(a)

832‌

$

106,413‌

Exxon

Mobil

Corp.

10,860‌

1,273,443‌

Phillips

66

3,388‌

481,469‌

Valero

Energy

Corp.

3,709‌

582,832‌

4,286,749‌

Financials

—

10.06%

Ameriprise

Financial,

Inc.

3,520‌

1,536,867‌

Arch

Capital

Group

Ltd.

(a)

7,637‌

783,785‌

Bank

of

America

Corp.

30,354‌

1,213,856‌

Berkshire

Hathaway,

Inc.,

Class

B

(a)

4,955‌

2,053,352‌

Blackstone

Group

L.P.

(The),

Class

A

3,212‌

387,046‌

Chubb

Ltd.

5,515‌

1,493,572‌

Interactive

Brokers

Group,

Inc.,

Class

A

4,472‌

562,220‌

JPMorgan

Chase

&

Co.

9,045‌

1,832,789‌

U.S.

Bancorp

12,283‌

498,076‌

W.R.

Berkley

Corp.

8,393‌

680,085‌

11,041,648‌

Health

Care

—

11.11%

Abbott

Laboratories

17,913‌

1,830,529‌

AbbVie,

Inc.

4,832‌

779,112‌

Amgen,

Inc.

1,175‌

359,374‌

Cigna

Corp.

1,205‌

415,267‌

Danaher

Corp.

3,082‌

791,457‌

Elevance

Health,

Inc.

1,231‌

662,869‌

Eli

Lilly

&

Co.

1,954‌

1,602,945‌

Hologic,

Inc.

(a)

9,530‌

703,123‌

IDEXX

Laboratories,

Inc.

(a)

550‌

273,323‌

Incyte

Corp.

(a)

4,396‌

254,045‌

IQVIA

Holdings,

Inc.

(a)

1,431‌

313,518‌

Johnson

&

Johnson

7,247‌

1,062,917‌

Merck

&

Co.,

Inc.

6,304‌

791,404‌

Molina

Healthcare,

Inc.

(a)

1,362‌

428,458‌

Royalty

Pharma

PLC,

Class

A

14,366‌

393,772‌

Stryker

Corp.

1,675‌

571,326‌

Vertex

Pharmaceuticals,

Inc.

(a)

1,442‌

656,600‌

Zoetis,

Inc.,

Class

A

1,782‌

302,156‌

12,192,195‌

Industrials

—

6.04%

AGCO

Corp.

3,461‌

371,469‌

Caterpillar,

Inc.

1,717‌

581,239‌

Delta

Air

Lines,

Inc.

6,703‌

341,987‌

Eaton

Corp.

plc

1,473‌

490,288‌

GE

Vernova

LLC

(a)

878‌

154,440‌

General

Electric

Co.

3,555‌

587,073‌

Honeywell

International,

Inc.

3,534‌

714,538‌

Illinois

Tool

Works,

Inc.

2,038‌

494,725‌

Keysight

Technologies,

Inc.

(a)

5,161‌

714,696‌

PACCAR,

Inc.

9,656‌

1,038,020‌

OneAscent

Large

Cap

Core

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

98.15%

-

continued

Shares

Fair

Value

Industrials

—

6.04%

-

continued

Southwest

Airlines

Co.

6,848‌

$

183,800‌

Transdigm

Group,

Inc.

292‌

392,223‌

Union

Pacific

Corp.

2,442‌

568,547‌

6,633,045‌

Materials

—

1.60%

Albemarle

Corp.

1,939‌

237,702‌

Linde

plc

1,620‌

705,542‌

Mosaic

Co.

(The)

9,574‌

296,124‌

Nucor

Corp.

3,095‌

522,591‌

1,761,959‌

Real

Estate

—

1.30%

CBRE

Group,

Inc.,

Class

A

(a)

3,115‌

274,338‌

Crown

Castle

International

Corp.

9,523‌

976,107‌

Kilroy

Realty

Corp.

5,335‌

178,883‌

1,429,328‌

Technology

—

35.10%

Adobe,

Inc.

(a)

2,286‌

1,016,721‌

Advanced

Micro

Devices,

Inc.

(a)

4,341‌

724,513‌

Akamai

Technologies,

Inc.

(a)

3,906‌

360,289‌

Applied

Materials,

Inc.

5,346‌

1,149,818‌

AppLovin

Corp.,

Class

A

(a)

1,742‌

141,938‌

Arista

Networks,

Inc.

(a)

1,153‌

343,190‌

Avnet,

Inc.

9,884‌

539,666‌

Block,

Inc.,

Class

A

(a)

1,747‌

111,948‌

Broadcom,

Inc.

1,582‌

2,101,766‌

Cisco

Systems,

Inc.

39,500‌

1,836,751‌

Gartner,

Inc.

(a)

1,725‌

723,931‌

Intel

Corp.

12,860‌

396,731‌

International

Business

Machines

Corp.

3,448‌

575,299‌

Intuit,

Inc.

1,078‌

621,402‌

Jabil,

Inc.

3,140‌

373,346‌

Lam

Research

Corp.

960‌

895,142‌

MasterCard,

Inc.,

Class

A

3,192‌

1,427,047‌

Microchip

Technology,

Inc.

14,768‌

1,435,893‌

Microsoft

Corp.

19,324‌

8,021,973‌

Moody's

Corp.

1,390‌

551,816‌

Motorola

Solutions,

Inc.

1,324‌

483,141‌

MSCI,

Inc.

662‌

327,809‌

NVIDIA

Corp.

6,103‌

6,690,901‌

Oracle

Corp.

11,231‌

1,316,161‌

PTC,

Inc.

(a)

4,219‌

743,557‌

Pure

Storage,

Inc.,

Class

A

(a)

3,831‌

230,971‌

Qorvo,

Inc.

(a)

4,340‌

427,013‌

Qualys,

Inc.

(a)

1,613‌

226,820‌

S&P

Global,

Inc.

1,735‌

741,730‌

Salesforce,

Inc.

4,724‌

1,107,495‌

SPS

Commerce,

Inc.

(a)

1,659‌

312,041‌

Texas

Instruments,

Inc.

4,423‌

862,529‌

OneAscent

Large

Cap

Core

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

98.15%

-

continued

Shares

Fair

Value

Technology

—

35.10%

-

continued

Visa,

Inc.,

Class

A

6,268‌

$

1,707,779‌

38,527,127‌

Utilities

—

3.19%

Clearway

Energy,

Inc.,

Class

C

20,996‌

587,888‌

FirstEnergy

Corp.

17,799‌

716,588‌

Sempra

28,483‌

2,194,045‌

3,498,521‌

Total

Common

Stocks/

Investments

—

98.15%

(Cost

$97,980,316

)

107,748,662‌

Other

Assets

in

Excess

of

Liabilities — 1.85%

2,035,508‌

NET

ASSETS

—

100.00%

$

109,784,170‌

(a)

Non-income

producing

security.

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

May

31,

2024

-

(Unaudited)

ASSET

BACKED

SECURITIES

—

9.86%

Principal

Amount

Fair

Value

Century

Plaza

Towers,

Series

2019-CPT,

Class

B,

3.00%,

11/13/2039

(a)(b)

$

740,000‌

$

613,592‌

COMM

Mortgage

Trust,

Series

2022-HC,

Class

B,

3.17%,

1/10/2039

(a)

1,000,000‌

891,781‌

Frontier

Issuer,

LLC,

Series

1,

Class

C,

11.50%,

8/20/2053

(a)

1,000,000‌

1,018,205‌

GoodLeap

Sustainable

Home

Solutions

Trust,

Series

2022-3CS,

Class

B,

5.52%,

2/22/2055

(a)

991,690‌

949,134‌

Helios

Issuer,

LLC,

Series

2023-B,

Class

C,

6.00%,

8/22/2050

(a)

855,840‌

776,506‌

Hertz

Vehicle

Financing,

LLC,

Series

2023-2A,

Class

C,

7.13%,

9/25/2029

(a)

900,000‌

918,285‌

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust,

Series

2020-

609M,

Class

A,

7.05%,

10/15/2033

(US0001M

+

1.370bps)

(a)(b)

1,000,000‌

971,367‌

Mosaic

Solar

Loan

Trust,

Series

2022-3A,

Class

A,

6.16%,

6/20/2053

(a)

799,602‌

802,558‌

Mosaic

Solar

Loan

Trust,

Series

2023-2A,

Class

C,

8.18%,

9/22/2053

(a)

500,000‌

446,708‌

Mosaic

Solar

Loan

Trust

2024-1,

Series

1,

Class

D,

10.00%,

9/20/2049

(a)

500,000‌

424,945‌

Natixis

Commercial

Mortgage

Securities

Trust,

Series

2019-MILE,

Class

A,

6.90%,

7/15/2036

(US0001M

+

1.500bps)

(a)(b)

848,857‌

790,386‌

One

Bryant

Park

Trust,

Series

2019-OBP,

Class

A,

2.52%,

9/15/2054

(a)

500,000‌

422,384‌

One

Market

Plaza

Trust,

Series

2017-1MKT,

Class

A,

3.61%,

2/10/2032

(a)

365,224‌

329,301‌

STWD

Mortgage

Trust,

Series

2021-LIH,

Class

B,

7.09%,

11/15/2036

(US0001M

+

1.656bps)

(a)(b)

1,000,000‌

992,435‌

Sunrun

Jupiter

Issuer,

LLC,

Series

2022-1A,

Class

A,

4.75%,

7/30/2057

(a)

920,453‌

851,448‌

Tesla

Auto

Lease

Trust,

Series

2023-A,

Class

A2,

5.86%,

8/20/2025

(a)

377,152‌

377,369‌

Tesla

Auto

Lease

Trust,

Series

2023-A,

Class

A3,

5.89%,

6/22/2026

(a)

500,000‌

500,708‌

Tesla

Auto

Lease

Trust,

Series

A,

Class

A3,

5.30%,

6/21/2027

(a)

1,170,000‌

1,166,620‌

Tesla

Electric

Vehicle

Trust

2023-1,

Series

1,

Class

A3,

5.38%,

6/20/2028

(a)

750,000‌

748,993‌

Vivint

Solar

Financing

V,

LLC,

Series

2018-1A,

Class

B,

7.37%,

4/30/2048

(a)

457,720‌

424,856‌

Wells

Fargo

Commercial

Mortgage

Trust

2024-SVEN,

Series

SVEN,

Class

X,

0.03%,

6/10/2037

(a)(b)

1,016,700‌

Total

Asset

Backed

Securities

(Cost $15,699,924)

15,434,281‌

COLLATERALIZED

MORTGAGE

OBLIGATIONS

—

0.58%

Freddie

Mac

Multiclass

Certificates,

Series

2022-P013,

Class

A2,

2.76%,

2/25/2032

(b)

1,000,000‌

838,468‌

Government

National

Mortgage

Association,

Series

111,

Class

ZA,

3.00%,

2/20/2052

102,273‌

66,603‌

Total

Collateralized

Mortgage

Obligations

(Cost $1,018,591)

905,071‌

CORPORATE

BONDS

—

46.33%

Consumer

Discretionary

—

1.97%

Conservation

Fund,

Series

2019,

3.47%,

12/15/2029

1,000,000‌

895,147‌

Magna

International,

Inc.,

2.45%,

6/15/2030

1,000,000‌

854,500‌

NHP

Foundation

(The),

6.00%,

12/1/2033

500,000‌

512,817‌

Walmart,

Inc.,

1.80%,

9/22/2031

1,000,000‌

815,889‌

3,078,353‌

Consumer

Staples

—

1.06%

PepsiCo,

Inc.,

3.90%,

7/18/2032

1,100,000‌

1,019,506‌

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

CORPORATE

BONDS

—

46.33%

-

continued

Principal

Amount

Fair

Value

Unilever

Capital

Corp.,

2.63%,

8/12/2051

$

1,000,000‌

$

637,374‌

1,656,880‌

Energy

—

3.45%

BP

Capital

Markets

America,

Inc.,

4.81%,

2/13/2033

500,000‌

482,945‌

BP

Capital

Markets

America,

Inc.,

2.77%,

11/10/2050

1,000,000‌

616,049‌

ConocoPhillips

Co.,

5.05%,

9/15/2033

500,000‌

492,490‌

Continental

Wind,

LLC,

6.00%,

2/28/2033

(a)

1,057,791‌

1,050,818‌

Equinor

ASA,

3.95%,

5/15/2043

1,000,000‌

827,241‌

MPLX

LP,

5.50%,

6/1/2034

550,000‌

537,253‌

Raizen

Fuels

Finance

S.A.,

6.45%,

3/5/2034

(a)

575,000‌

582,570‌

TotalEnergies

Capital

SA,

5.49%,

4/5/2054

825,000‌

813,588‌

5,402,954‌

Financials

—

15.78%

Barclays

plc,

6.04%,

3/12/2055

(SOFR

+

2.420bps)

(b)

500,000‌

512,553‌

BB

Blue

Financing

DAC,

Series

A2,

4.40%,

9/20/2029

1,000,000‌

967,823‌

BB

Blue

Financing

DAC,

Series

A1,

4.40%,

9/20/2037

1,000,000‌

954,339‌

BNP

Paribas

S.A.,

5.89%,

12/5/2034

(SOFR

+

1.866bps)

(a)(b)

1,175,000‌

1,207,454‌

BPCE

S.A.,

5.94%,

5/30/2035

(SOFR

+

1.850bps)

(a)(b)

925,000‌

923,468‌

Consumers

2023

Securitization

Funding,

LLC,

5.55%,

3/1/2028

1,000,000‌

998,674‌

Credit

Agricole

S.A.,

5.34%,

1/10/2030

(SOFR

+

1.690bps)

(a)(b)

1,000,000‌

992,949‌

Credit

Agricole

S.A.,

6.25%,

1/10/2035

(SOFR

+

2.670bps)

(a)(b)

1,000,000‌

1,011,213‌

Export

Development

Canada,

4.13%,

2/13/2029

1,000,000‌

978,044‌

Export

Development

Canada,

4.75%,

6/5/2034

1,000,000‌

1,009,733‌

Federation

des

Caisses

Desjardins

du

Quebec,

5.25%,

4/26/2029

(a)

1,000,000‌

993,046‌

Goldman

Sachs

Group,

Inc.

(The),

5.50%,

Perpetual

(H15T5Y

+

3.623bps)

(b)

1,000,000‌

999,525‌

GPS

Blue

Financing

DAC,

5.65%,

11/9/2041

(a)

1,000,000‌

944,000‌

Intesa

Sanpaolo

SpA,

7.20%,

11/28/2033

(a)

1,000,000‌

1,074,137‌

JPMorgan

Chase

&

Co.,

5.77%,

4/22/2035

(SOFR

+

1.490bps)

(b)

500,000‌

509,605‌

KFW,

4.38%,

2/28/2034

1,000,000‌

982,753‌

Muenchener

Rueckversicherungs-Gesellschaft

A.G.,

5.88%,

5/23/2042

(H15T5Y

+

3.982bps)

(a)(b)

1,000,000‌

999,795‌

NatWest

Group

plc,

8.13%,

Perpetual

(H15T5Y

+

3.752bps)

(b)

1,000,000‌

1,016,585‌

Private

Export

Funding

Corp.,

4.60%,

2/15/2034

1,000,000‌

977,367‌

Province

of

Quebec

Canada,

1.90%,

4/21/2031

1,000,000‌

831,807‌

Societe

Generale

S.A.,

7.13%,

1/19/2055

(H15T1Y

+

2.950bps)

(a)(b)

1,200,000‌

1,192,851‌

Starwood

Property

Trust,

Inc.,

7.25%,

4/1/2029

(a)

750,000‌

746,757‌

UBS

Group

A.G.,

6.30%,

9/22/2034

(H15T1Y

+

2.000bps)

(a)(b)

1,000,000‌

1,042,532‌

UBS

Group

A.G.,

9.25%,

Perpetual

(H15T5Y

+

4.745bps)

(a)(b)

625,000‌

668,874‌

UBS

Group

AG,

5.70%,

2/8/2035

(H15T1Y

+

1.770bps)

(a)(b)

1,150,000‌

1,146,581‌

WLB

Asset

VI

Pte

Ltd.,

7.25%,

12/21/2027

(a)

1,000,000‌

993,393‌

24,675,858‌

Industrials

—

2.93%

Air

Canada,

Series

2013-1A,

Class

A,

4.13%,

5/15/2025

(a)

499,209‌

487,465‌

Ambipar

Lux

Sarl,

9.88%,

2/6/2031

(a)

400,000‌

387,549‌

Cummins,

Inc.,

5.45%,

2/20/2054

1,000,000‌

977,903‌

Delta

Air

Lines

Pass

Through

Trust,

Series

2020-1,

Class

A,

2.50%,

6/10/2028

1,346,975‌

1,222,495‌

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

CORPORATE

BONDS

—

46.33%

-

continued

Principal

Amount

Fair

Value

Tote

Shipholdings,

LLC,

3.40%,

10/16/2040

$

937,000‌

$

783,805‌

Vessel

Management

Services,

Inc.,

3.48%,

1/16/2037

864,000‌

732,928‌

4,592,145‌

Insurance

—

0.54%

USAA

Capital

Corp.,

2.13%,

5/1/2030

(a)

1,000,000‌

841,719‌

Materials

—

2.59%

Alcoa

Nederland

Holding

BV,

7.13%,

3/15/2031

(a)

1,030,000‌

1,054,178‌

Amcor

Group

Finance

plc,

5.45%,

5/23/2029

1,000,000‌

1,000,021‌

Cemex

S.A.B.

de

C.V.,

9.13%,

Perpetual

(H15T5Y

+

490.700bps)

(a)(b)

625,000‌

672,201‌

FMG

Resources

(August

2006)

Pty

Ltd.,

6.13%,

4/15/2032

(a)

500,000‌

489,286‌

Newmont

Corp.,

2.25%,

10/1/2030

1,000,000‌

842,968‌

4,058,654‌

Multi-Nationals

—

5.84%

African

Development

Bank,

4.13%,

2/25/2027

1,000,000‌

981,971‌

African

Development

Bank,

5.75%,

Perpetual

(H15T5Y

+

1.575bps)

(b)

1,000,000‌

959,103‌

Arab

Petroleum

Investments

Corp.,

5.43%,

5/2/2029

(a)

1,000,000‌

1,011,575‌

Central

American

Bank

for

Economic

Integration,

5.00%,

2/9/2026

(a)

250,000‌

247,799‌

European

Investment

Bank,

0.75%,

9/23/2030

1,000,000‌

792,566‌

Inter-American

Development

Bank,

GMTN,

3.50%,

4/12/2033

1,000,000‌

917,328‌

Inter-American

Investment

Corp.,

2.63%,

4/22/2025

1,000,000‌

975,958‌

International

Bank

for

Reconstruction

&

Development,

EMTN,

0

%,

3/31/2028

500,000‌

479,755‌

International

Finance

Facility

for

Immunisation

Co.,

MTN,

1.00%,

4/21/2026

1,000,000‌

926,523‌

OPEC

Fund

for

International

Development

(The),

4.50%,

1/26/2026

(a)

1,000,000‌

984,910‌

United

States

International

Development

Finance,

3.43%,

6/1/2033

917,270‌

856,500‌

9,133,988‌

Real

Estate

—

1.18%

HAT

Holdings

I,

LLC/HAT

Holdings

II,

LLC,

3.38%,

6/15/2026

(a)

1,000,000‌

941,862‌

Preservation

of

Affordable

Housing,

Inc.,

4.48%,

12/1/2032

1,000,000‌

907,352‌

1,849,214‌

Technology

—

0.90%

Apple,

Inc.,

3.00%,

6/20/2027

1,000,000‌

948,253‌

Intel

Corp.,

4.15%,

8/5/2032

500,000‌

464,384‌

1,412,637‌

Utilities

—

10.09%

AES

Corp.

(The),

5.45%,

6/1/2028

1,000,000‌

994,463‌

AES

Corp.

(The),

7.60%,

1/15/2055

(H15T5Y

+

3.201bps)

(b)

325,000‌

327,686‌

Algonquin

Power

&

Utilities

Corp.,

5.37%,

6/15/2026

950,000‌

943,326‌

Consumers

Energy

Co.,

4.60%,

5/30/2029

1,000,000‌

978,094‌

Duke

Energy

Carolinas,

LLC,

3.55%,

3/15/2052

1,000,000‌

702,687‌

Hydro-Quebec,

8.05%,

7/7/2024

1,000,000‌

1,002,151‌

MidAmerican

Energy

Co.,

5.30%,

2/1/2055

1,050,000‌

991,513‌

New

York

State

Electric

&

Gas

Corp.,

2.15%,

10/1/2031

(a)

1,000,000‌

791,698‌

NextEra

Energy

Operating

Partners,

L.P.,

7.25%,

1/15/2029

(a)

1,016,000‌

1,040,881‌

Pacific

Gas

and

Electric

Co.,

6.70%,

4/1/2053

1,000,000‌

1,049,886‌

PPL

Electric

Utilities

Corp.,

4.85%,

2/15/2034

950,000‌

918,124‌

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

CORPORATE

BONDS

—

46.33%

-

continued

Principal

Amount

Fair

Value

Public

Service

Co.

of

Colorado,

5.75%,

5/15/2054

$

1,100,000‌

$

1,091,233‌

RWE

Finance

US,

LLC,

5.88%,

4/16/2034

(a)

550,000‌

549,792‌

San

Diego

Gas

&

Electric

Co.,

2.95%,

8/15/2051

1,000,000‌

644,420‌

Southern

California

Edison

Co.,

5.20%,

6/1/2034

575,000‌

559,213‌

Southern

California

Edison

Co.,

3.65%,

6/1/2051

1,000,000‌

704,193‌

Topaz

Solar

Farms,

LLC,

5.75%,

9/30/2039

(a)

925,060‌

911,961‌

Union

Electric

Co.,

2.63%,

3/15/2051

1,000,000‌

592,205‌

Vistra

Corp.,

7.00%,

Perpetual

(H15T5Y

+

5.740bps)

(a)(b)

1,000,000‌

993,910‌

15,787,436‌

Total

Corporate

Bonds

(Cost $75,022,841)

72,489,838‌

FOREIGN

GOVERNMENT

BONDS

—

1.36%

Canada

Government

International

Bond,

2.88%,

4/28/2025

1,100,000‌

1,077,339‌

Colombia

Government

International

Bond,

8.75%,

11/14/2053

1,000,000‌

1,049,321‌

Total

Foreign

Government

Bonds

(Cost $2,079,329)

2,126,660‌

INTERNATIONAL

BONDS

—

0.62%

Hashemite

Kingdom

Of

Jordan,

3.00%,

6/30/2025

1,000,000‌

968,386‌

Total

International

Bonds

(Cost $984,119)

968,386‌

MUNICIPAL

BONDS

—

3.23%

California

—

0.32%

Freddie

Mac

Multifamily

ML

Certificates,

Revenue

,

1.51

%,

9/25/2037

4,897,601‌

506,167‌

District

of

Columbia

—

0.47%

District

of

Columbia,

Revenue

,

3.85

%,

2/28/2025

750,000‌

739,417‌

Florida

—

0.66%

Florida

Development

Finance

Corp.,

Revenue

,

8.00

%,

7/1/2057

(a)

1,000,000‌

1,028,815‌

Indiana

—

0.00%

(c)

Fort

Wayne,

Solid

Waste

Facility,

Revenue,

Series

2022A-2

,

10.75

%,

12/1/2029

(d)

234,358‌

23‌

Montana

—

0.66%

Gallatin

County

Industrial

Development,

Revenue,

Series

B

,

11.50

%,

9/1/2027

1,000,000‌

1,024,655‌

New

Hampshire

—

0.54%

New

Hampshire

Business

Finance

Authority,

Revenue

,

5.45

%,

7/1/2033

(a)

850,000‌

850,000‌

New

York

—

0.58%

Metropolitan

Transportation

Authority,

Revenue

,

5.18

%,

11/15/2049

75,000‌

67,146‌

New

York

State

Energy

Research

&

Development

Authority,

Revenue,

Series

A

,

4.87

%,

4/1/2037

960,000‌

844,606‌

911,752‌

Total

Municipal

Bonds

(Cost $5,344,370)

5,060,829‌

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

TERM

LOANS

—

1.99%

Principal

Amount

Fair

Value

Utilities

—

1.38%

ExGen

Renewables

IV,

LLC,

7.24%,

12/15/2027

(US0001M

+

250.000bps)

(b)

$

889,974‌

$

893,312‌

TerraForm

Power

Operating,

LLC,

7.99%,

5/30/2029

(TSFR1M

+

275.000bps)

(b)

902,500‌

907,012‌

Vistra

Operations

Co.,

LLC,

8.08%,

3/20/2031

(TSFR1M

-

–bps)

350,000‌

352,756‌

2,153,080‌

Industrials

—

0.61%

LTR

Intermediate

Holdings,

Inc.,

9.60%,

5/7/2028

(US0001M

+

450.000bps)

(b)

982,368‌

956,581‌

Total

Term

Loans

(Cost $3,097,901)

3,109,661‌

U.S.

GOVERNMENT

&

AGENCIES

—

35.01%

Fannie

Mae

Pool,

4.00

%

,

5/1/2044

761,626‌

712,967‌

Fannie

Mae

Pool,

2.50

%

,

11/1/2051

679,721‌

549,781‌

Fannie

Mae

Pool,

2.50

%

,

12/1/2051

813,896‌

661,482‌

Fannie

Mae

Pool,

2.50

%

,

2/1/2052

187,802‌

153,623‌

Fannie

Mae

Pool,

2.50

%

,

2/1/2052

2,103,506‌

1,719,998‌

Fannie

Mae

Pool,

3.00

%

,

2/1/2052

228,226‌

192,002‌

Fannie

Mae

Pool,

3.00

%

,

4/1/2052

2,558,488‌

2,175,514‌

Fannie

Mae

Pool,

3.00

%

,

4/1/2052

272,963‌

229,422‌

Fannie

Mae

Pool,

3.50

%

,

4/1/2052

2,486,508‌

2,179,882‌

Fannie

Mae

Pool,

5.00

%

,

5/1/2052

176,829‌

170,236‌

Fannie

Mae

Pool,

3.00

%

,

6/1/2052

718,709‌

604,517‌

Fannie

Mae

Pool,

3.50

%

,

6/1/2052

198,008‌

173,596‌

Fannie

Mae

Pool,

5.00

%

,

7/1/2052

440,539‌

424,302‌

Fannie

Mae

Pool,

4.00

%

,

8/1/2052

1,459,492‌

1,326,310‌

Fannie

Mae

Pool,

4.50

%

,

8/1/2052

1,934,610‌

1,810,348‌

Fannie

Mae

Pool,

3.50

%

,

9/1/2052

462,156‌

405,246‌

Fannie

Mae

Pool,

4.00

%

,

9/1/2052

728,567‌

661,722‌

Fannie

Mae

Pool,

4.50

%

,

9/1/2052

1,123,405‌

1,051,247‌

Fannie

Mae

Pool,

5.00

%

,

9/1/2052

314,869‌

303,223‌

Fannie

Mae

Pool,

4.00

%

,

10/1/2052

1,264,950‌

1,148,512‌

Fannie

Mae

Pool,

4.50

%

,

10/1/2052

698,507‌

653,641‌

Fannie

Mae

Pool,

5.00

%

,

10/25/2052

658,365‌

633,929‌

Fannie

Mae

Pool,

4.50

%

,

11/1/2052

403,106‌

377,214‌

Fannie

Mae

Pool,

5.00

%

,

2/1/2053

124,010‌

119,366‌

Fannie

Mae

Pool,

5.50

%

,

2/1/2053

447,148‌

440,150‌

Fannie

Mae

Pool,

6.00

%

,

2/1/2053

391,627‌

391,972‌

Fannie

Mae

Pool,

6.00

%

,

3/1/2053

311,778‌

312,367‌

Fannie

Mae

Pool,

5.50

%

,

6/1/2053

887,822‌

873,032‌

Fannie

Mae

Pool,

5.00

%

,

8/1/2053

982,085‌

944,721‌

Fannie

Mae

Pool,

5.50

%

,

10/1/2053

1,456,108‌

1,431,416‌

Federal

National

Mortgage

Association,

0.88

%

,

8/5/2030

1,000,000‌

799,595‌

Federal

National

Mortgage

Association,

5.00

%

,

4/1/2053

259,164‌

249,417‌

Freddie

Mac

Pool,

3.00

%

,

2/1/2052

179,298‌

152,441‌

Freddie

Mac

Pool,

3.00

%

,

3/1/2052

1,189,108‌

1,000,084‌

OneAscent

Core

Plus

Bond

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

U.S.

GOVERNMENT

&

AGENCIES

—

35.01%

-

continued

Principal

Amount

Fair

Value

Freddie

Mac

Pool,

4.00

%

,

4/1/2052

$

179,597‌

$

163,230‌

Freddie

Mac

Pool,

3.00

%

,

6/1/2052

272,143‌

228,861‌

Ginnie

Mae

II

Pool,

2.50

%

,

9/20/2051

777,585‌

647,792‌

Ginnie

Mae

II

Pool,

3.00

%

,

12/20/2051

1,996,968‌

1,724,635‌

Ginnie

Mae

II

Pool,

3.00

%

,

1/20/2052

216,765‌

187,326‌

Ginnie

Mae

II

Pool,

2.50

%

,

5/20/2052

302,977‌

252,424‌

Ginnie

Mae

II

Pool,

3.50

%

,

7/20/2052

1,463,477‌

1,305,530‌

Ginnie

Mae

II

Pool,

4.00

%

,

9/20/2052

990,083‌

909,466‌

Ginnie

Mae

II

Pool,

4.50

%

,

12/20/2052

698,427‌

660,404‌

Ginnie

Mae

II

Pool,

4.50

%

,

2/20/2053

150,231‌

142,032‌

Ginnie

Mae

II

Pool,

5.00

%

,

2/20/2053

251,116‌

243,738‌

Ginnie

Mae

II

Pool,

5.50

%

,

2/20/2053

103,862‌

103,075‌

Ginnie

Mae

II

Pool,

3.00

%

,

8/20/2053

28,471‌

24,583‌

United

States

Treasury

Bond,

2.38

%

,

2/15/2042

483,000‌

346,326‌

United

States

Treasury

Note,

4.88

%

,

5/31/2026

1,561,000‌

1,560,512‌

United

States

Treasury

Note,

4.50

%

,

5/15/2027

1,598,000‌

1,589,199‌

United

States

Treasury

Note,

4.63

%

,

4/30/2029

4,797,000‌

4,814,239‌

United

States

Treasury

Note,

4.63

%

,

4/30/2031

1,873,000‌

1,884,121‌

United

States

Treasury

Note,

4.38

%

,

5/15/2034

1,694,000‌

1,675,604‌

United

States

Treasury

Note,

4.63

%

,

5/15/2044

7,170,000‌

7,073,093‌

United

States

Treasury

Note,

4.25

%

,

2/15/2054

4,498,000‌

4,206,333‌

Total

U.S.

Government

&

Agencies

(Cost $56,564,604)

54,775,798‌

Total

Investments

—

98.98%

(Cost

$159,811,679

)

154,870,524‌

Other

Assets

in

Excess

of

Liabilities — 1.02%

1,591,271‌

NET

ASSETS

—

100.00%

$

156,461,795‌

(a)

Security

exempt

from

registration

under

Rule

144A

or

Section

4(a)(2)

of

the

Securities

Act

of

1933.

The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

(b)

Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

May

31,

2024.

For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(c)

Less

than

0.005%.

(d)

In

default

EMTN

-

Euro

Medium

Term

Note

GMTN

-

Global

Medium

Term

Note

OneAscent

International

Equity

ETF

Schedule

of

Investments

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

83.74%

Shares

Fair

Value

Communications

—

0.99%

Trip.com

Group

Ltd.

(China)

(a)

25,774‌

$

1,290,628‌

Consumer

Staples

—

11.40%

Carrefour

S.A.

(France)

118,703‌

1,930,308‌

Dollarama,

Inc.

(Canada)

40,622‌

3,845,820‌

Kimberly-Clark

de

Mexico

SAB

de

CV

(Mexico)

1,757,560‌

3,696,266‌

L'Oreal

S.A.

(France)

4,569‌

2,240,882‌

Nestle

S.A.

-

ADR

(Switzerland)

29,533‌

3,139,358‌

14,852,634‌

Energy

—

3.46%

Aker

BP

ASA

(Norway)

176,053‌

4,510,971‌

Financials

—

13.58%

AIA

Group

Ltd.

(Hong

Kong)

142,719‌

1,103,201‌

Bangkok

Bank

PCL

(Thailand)

750,266‌

2,780,196‌

Bank

Rakyat

Indonesia

Persero

Tbk

P.T.

(Indonesia)

10,894,846‌

2,910,478‌

DBS

Group

Holdings

Ltd.

(Singapore)

183,721‌

4,893,661‌

HDFC

Bank

Ltd.

-

ADR

(India)

38,247‌

2,214,119‌

KBC

Group

N.V.

(Belgium)

52,268‌

3,791,103‌

17,692,758‌

Health

Care

—

6.63%

Olympus

Corp.

(Japan)

221,500‌

3,483,714‌

Santen

Pharmaceutical

Co.

Ltd.

(Japan)

280,860‌

2,907,376‌

Straumann

Holding

AG

(Switzerland)

17,329‌

2,247,202‌

8,638,292‌

Industrials

—

9.97%

CAE,

Inc.

(Canada)

(a)

120,021‌

2,254,060‌

Element

Fleet

Management

Corp.

(Canada)

136,077‌

2,418,783‌

Intertek

Group

plc

(United

Kingdom)

37,100‌

2,258,199‌

Mitsubishi

Electric

Corp.

(Japan)

206,991‌

3,593,114‌

Safran

S.A.

(France)

10,652‌

2,474,065‌

12,998,221‌

Materials

—

14.05%

CRH

plc

(Ireland)

41,127‌

3,206,716‌

Givaudan

S.A.

(Switzerland)

601‌

2,822,381‌

Mitsubishi

Materials

Corp.

(Japan)

144,175‌

2,807,979‌

Rio

Tinto

plc

(United

Kingdom)

58,225‌

4,063,469‌

Smurfit

Kappa

Group

plc

(Ireland)

79,697‌

3,864,674‌

Suzano

S.A.

-

ADR

(Brazil)

165,617‌

1,548,519‌

18,313,738‌

Technology

—

23.66%

ASML

Holding

N.V.

-

ADR

(Netherlands)

3,791‌

3,640,687‌

ASMPT

Ltd.

(Hong

Kong)

234,541‌

2,796,689‌

Canon,

Inc.

(Japan)

88,626‌

2,565,194‌

Constellation

Software,

Inc.

(Canada)

808‌

2,248,077‌

Darktrace

plc

(United

Kingdom)

(a)

343,450‌

2,573,741‌

Murata

Manufacturing

Co.

Ltd.

(Japan)

127,779‌

2,410,242‌

Nomura

Research

Institute

Ltd.

(Japan)

94,690‌

2,531,184‌

OneAscent

International

Equity

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

83.74%

-

continued

Shares

Fair

Value

Technology

—

23.66%

-

continued

Novatek

Microelectronics

Corp.

(Taiwan

Province

of

China)

79,000‌

$

1,441,712‌

NXP

Semiconductors

NV

(Netherlands)

11,810‌

3,213,501‌

Taiwan

Semiconductor

Manufacturing

Co.,

Ltd.

-

ADR

(Taiwan

Province

of

China)

37,535‌

5,669,287‌

Topicus.com,

Inc.

(Canada)

20,289‌

1,742,146‌

30,832,460‌

WARRANTS

-

0.00%

(b)

Technology

—

0.00%

(b)

Constellation

Software,

Inc.,

(Canada)

Expiration

Date

3/31/2040

(c)

872‌

‌

-

Total

Warrants

Cost

($0)

‌

-

Total

Investments

—

83.74%

(Cost

$92,431,985

)

109,129,702‌

Other

Assets

in

Excess

of

Liabilities — 16.26%

21,194,595‌

NET

ASSETS

—

100.00%

$

130,324,297‌

(a)

Non-income

producing

security.

(b)

Less

than

0.005%.

(c)

Security

is

currently

being

valued

according

to

the

fair

value

procedures

of

the

Adviser,

as

Valuation

Designee,

under

oversight

of

the

Board's

Pricing

&

Liquidity

Committee.

ADR

-

American

Depositary

Receipt

OneAscent

Emerging

Markets

ETF

Schedule

of

Investments

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

87.43%

Shares

Fair

Value

Communications

—

5.41%

MakeMyTrip

Ltd.

(Mauritius)

(a)

16,332‌

$

1,234,536‌

Trip.com

Group

Ltd.

(China)

(a)

27,298‌

1,366,942‌

2,601,478‌

Consumer

Discretionary

—

10.35%

Ace

Hardware

Indonesia

Tbk

P.T.

(Indonesia)

19,982,388‌

1,008,591‌

Coway

Co.

Ltd.

(South

Korea)

15,496‌

632,371‌

Haier

Smart

Home

Co.

Ltd.,

H

Shares

(China)

536,274‌

1,940,661‌

MercadoLibre,

Inc.

(Argentina)

(a)

481‌

830,004‌

Sendas

Distribuidora

S.A.

(Brazil)

243,400‌

568,321‌

4,979,948‌

Consumer

Staples

—

5.57%

Charoen

Pokphand

Foods

PCL

(Thailand)

807,592‌

499,867‌

Indofood

CBP

Sukses

Makmur

Tbk

P.T.

(Indonesia)

1,406,604‌

844,170‌

Kimberly-Clark

de

Mexico

SAB

de

CV

(Mexico)

634,908‌

1,335,254‌

2,679,291‌

Energy

—

1.58%

PTT

Exploration

&

Production

PCL

(Thailand)

181,462‌

758,637‌

Financials

—

11.71%

Bank

Rakyat

Indonesia

Persero

Tbk

P.T.

(Indonesia)

4,798,856‌

1,281,979‌

BB

Seguridade

Participacoes

S.A.

(Brazil)

155,000‌

949,064‌

HDFC

Bank

Ltd.

-

ADR

(India)

20,893‌

1,209,496‌

NU

Holdings

Ltd.,

Class

A

(Taiwan

Province

of

China)

(a)

87,100‌

1,034,748‌

Regional

S.A.B.

de

C.V.

(Mexico)

133,661‌

1,157,954‌

5,633,241‌

Health

Care

—

1.77%

Dentium

Co.

Ltd.

(South

Korea)

10,517‌

853,803‌

Industrials

—

7.94%

Hanwha

Aerospace

Co.

Ltd.

(Korea

(Republic

of))

6,325‌

938,183‌

LIG

Nex1

Co.

Ltd.

(Korea

(Republic

of))

10,571‌

1,225,326‌

Sporton

International,

Inc.

(Taiwan

Province

of

China)

88,400‌

663,803‌

Voltronic

Power

Technology

Corp.

(Taiwan

Province

of

China)

19,000‌

991,106‌

3,818,418‌

Materials

—

6.33%

Harmony

Gold

Mining

Co.

Ltd.

(South

Africa)

171,243‌

1,558,072‌

Orbia

Advance

Corp.

SAB

de

CV

(Mexico)

415,135‌

680,485‌

Suzano

S.A.

-

ADR

(Brazil)

86,086‌

804,904‌

3,043,461‌

Technology

—

36.77%

Accton

Technology

Corp.

(Taiwan

Province

of

China)

90,000‌

1,395,950‌

ASMPT

Ltd.

(Hong

Kong)

136,907‌

1,632,492‌

DB

HiTek

Co.

Ltd.

(South

Korea)

18,697‌

548,575‌

eMemory

Technology,

Inc.

(Taiwan

Province

of

China)

8,000‌

541,638‌

Infosys

Ltd.

-

ADR

(India)

55,847‌

935,437‌

MediaTek,

Inc.

(Taiwan

Province

of

China)

41,000‌

1,558,288‌

Novatek

Microelectronics

Corp.

(Taiwan

Province

of

China)

68,000‌

1,240,967‌

OneAscent

Emerging

Markets

ETF

Schedule

of

Investments

(continued)

May

31,

2024

-

(Unaudited)

COMMON

STOCKS

—

87.43%

-

continued

Shares

Fair

Value

Technology

—

36.77%

-

continued

Powerchip

Semiconductor

Manufacturing

Corp.

(Taiwan

Province

of

China)

(a)

402,000‌

$

308,051‌

Samsung

Electronics

Co.

Ltd.

(South

Korea)

63,313‌

3,367,079‌

Samsung

SDI

Co.

Ltd.

(South

Korea)

1,943‌

526,499‌

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

(Taiwan

Province

of

China)

171,000‌

4,320,521‌

Unimicron

Technology

Corp.

(Taiwan

Province

of

China)

90,000‌

505,478‌

Wipro

Ltd.

-

ADR

(India)

156,614‌

806,562‌

17,687,537‌

Total

Common

Stocks/

Investments

—

87.43%

(Cost

$37,625,460

)

42,055,814‌

Other

Assets

in

Excess

of

Liabilities — 12.57%

6,048,757‌

NET

ASSETS

—

100.00%

$

48,104,571‌

(a)

Non-income

producing

security.

ADR

-

American

Depositary

Receipt