6 Meridian
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK — 95.6% | ||||||||
Communication Services — 2.7% | ||||||||
Alphabet, Cl C * | 1,156 | $ | 3,363,081 | |||||
Facebook, Cl A * | 8,951 | 3,395,831 | ||||||
6,758,912 | ||||||||
Consumer Discretionary — 12.4% | ||||||||
Amazon.com * | 942 | 3,269,484 | ||||||
Home Depot | 9,627 | 3,140,135 | ||||||
Lowe’s | 32,996 | 6,727,555 | ||||||
McDonald’s | 13,122 | 3,115,950 | ||||||
NIKE, Cl B | 37,339 | 6,151,227 | ||||||
Target | 36,745 | 9,075,280 | ||||||
31,479,631 | ||||||||
Consumer Staples — 16.5% | ||||||||
Altria Group | 132,021 | 6,631,415 | ||||||
Coca-Cola | 55,387 | 3,118,842 | ||||||
Costco Wholesale | 14,688 | 6,690,237 | ||||||
Kraft Heinz | 81,660 | 2,938,943 | ||||||
Mondelez International, Cl A | 49,646 | 3,081,528 | ||||||
PepsiCo | 20,153 | 3,151,728 | ||||||
Philip Morris International | 94,494 | 9,732,881 | ||||||
Walmart | 44,308 | 6,562,015 | ||||||
41,907,589 | ||||||||
Financials — 20.7% | ||||||||
American Express | 37,225 | 6,177,861 | ||||||
Bank of America | 82,998 | 3,465,167 | ||||||
Berkshire Hathaway, Cl B * | 11,325 | 3,236,345 | ||||||
Capital One Financial | 39,360 | 6,532,579 | ||||||
Citigroup | 93,035 | 6,690,147 | ||||||
Goldman Sachs Group | 16,659 | 6,888,663 | ||||||
JPMorgan Chase | 20,839 | 3,333,198 | ||||||
MetLife | 108,964 | 6,755,768 | ||||||
US Bancorp | 114,300 | 6,559,677 | ||||||
Wells Fargo | 68,802 | 3,144,251 | ||||||
52,783,656 | ||||||||
Health Care — 15.4% | ||||||||
Abbott Laboratories | 26,054 | 3,292,444 | ||||||
AbbVie | 54,580 | 6,592,172 | ||||||
Bristol-Myers Squibb | 92,640 | 6,193,910 | ||||||
CVS Health | 76,464 | 6,605,725 | ||||||
Eli Lilly | 25,550 | 6,599,310 | ||||||
Johnson & Johnson | 18,286 | 3,165,855 | ||||||
Pfizer | 143,345 | 6,603,905 | ||||||
39,053,321 | ||||||||
Industrials — 7.4% | ||||||||
3M | 47,851 | 9,318,504 | ||||||
Caterpillar | 15,354 | 3,237,698 | ||||||
FedEx | 11,406 | 3,030,460 | ||||||
General Dynamics | 16,088 | 3,222,587 | ||||||
18,809,249 | ||||||||
Information Technology — 14.2% | ||||||||
Adobe * | 5,090 | 3,378,233 | ||||||
Broadcom | 6,497 | 3,230,374 | ||||||
Cisco Systems | 56,818 | 3,353,398 | ||||||
Intel | 58,689 | 3,172,727 | ||||||
International Business Machines | 44,555 | 6,252,849 | ||||||
NVIDIA | 31,905 | 7,141,935 | ||||||
Oracle | 35,963 | 3,205,382 | ||||||
QUALCOMM | 21,163 | 3,104,400 | ||||||
Texas Instruments | 16,518 | 3,153,451 | ||||||
35,992,749 | ||||||||
Materials — 3.8% | ||||||||
Dow | 154,396 | 9,711,508 | ||||||
Utilities — 2.5% | ||||||||
Southern | 98,334 | 6,463,494 | ||||||
Total Common Stock | ||||||||
(Cost $211,805,523) | 242,960,109 | |||||||
EXCHANGE-TRADED FUND — 5.1% | ||||||||
SPDR S&P 500 ETF Trust | 28,420 | 12,833,335 | ||||||
Total Exchange-Traded Fund | ||||||||
(Cost $12,521,357) | 12,833,335 | |||||||
SHORT-TERM INVESTMENT — 0.4% | ||||||||
Invesco Government & Agency, CI Institutional, 0.03% | 1,076,726 | 1,076,726 | ||||||
Total Short-Term Investment | ||||||||
(Cost $1,076,726) | 1,076,726 | |||||||
Total Investments - 101.1% | ||||||||
(Cost $225,403,606) | $ | 256,870,170 | ||||||
WRITTEN OPTIONS(A) — -1.1% | ||||||||
Total Written Options | ||||||||
(Premiums Received ($2,124,022)) | (2,769,056 | ) |
Percentages are based on Net Assets of $254,015,935.
1
6 Meridian
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | |||||||||||||
WRITTEN OPTIONS — (1.1)% | ||||||||||||||||||
Call Options | ||||||||||||||||||
S&P 500 Index* | (424 | ) | $ | (1,582,969 | ) | $ | 4,500 | 10/16/21 | $ | (2,253,560 | ) | |||||||
S&P 500 Index* | (141 | ) | (541,053 | ) | 4,600 | 10/16/21 | (515,946 | ) | ||||||||||
(2,769,056 | ) | |||||||||||||||||
Total Written Options | ||||||||||||||||||
(Premiums Received $2,124,022) | (2,769,056 | ) |
* Non-income producing security.
(A) Refer to table below for details on Options Contracts
Cl — Class
ETF — Exchange Traded Fund
SPDR — Standard & Poor’s Depositary Receipt
S&P — Standard & Poor’s
As of August 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under U.S. GAAP.
For the period ended August 31, 2021, there have been no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.
MER-QH-001-0300
2
6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK — 99.1% | ||||||||
Communication Services — 3.8% | ||||||||
AT&T | 20,041 | $ | 549,524 | |||||
Cable One | 284 | 596,284 | ||||||
Discovery, Cl A * | 19,695 | 568,004 | ||||||
Fox | 15,989 | 598,628 | ||||||
New York Times, Cl A | 11,997 | 609,207 | ||||||
QuinStreet * | 31,570 | 565,419 | ||||||
Shenandoah Telecommunications | 18,799 | 560,774 | ||||||
ViacomCBS, Cl B | 14,390 | 596,466 | ||||||
World Wrestling Entertainment, Cl A | 11,486 | 598,535 | ||||||
5,242,841 | ||||||||
Consumer Discretionary — 8.6% | ||||||||
AutoZone * | 339 | 525,162 | ||||||
Dollar General | 2,376 | 529,635 | ||||||
Domino’s Pizza | 1,039 | 537,049 | ||||||
Dorman Products * | 5,704 | 535,377 | ||||||
Grand Canyon Education * | 6,074 | 541,436 | ||||||
H&R Block | 22,462 | 576,151 | ||||||
Hasbro | 5,606 | 551,126 | ||||||
Helen of Troy * | 2,483 | 593,909 | ||||||
LGI Homes * | 3,510 | 562,758 | ||||||
McDonald’s | 2,377 | 564,442 | ||||||
Murphy USA | 3,710 | 576,089 | ||||||
Ollie’s Bargain Outlet Holdings * | 6,282 | 454,691 | ||||||
O’Reilly Automotive * | 920 | 546,554 | ||||||
Papa John’s International | 4,846 | 618,011 | ||||||
Service International | 8,799 | 552,225 | ||||||
Shutterstock | 5,324 | 613,644 | ||||||
Sturm Ruger | 7,292 | 570,161 | ||||||
Target | 2,141 | 528,784 | ||||||
Wendy’s | 24,975 | 574,925 | ||||||
Williams-Sonoma | 3,565 | 665,585 | ||||||
Yum! Brands | 4,180 | 547,705 | ||||||
11,765,419 | ||||||||
Consumer Staples — 16.1% | ||||||||
Altria Group | 11,869 | 596,180 | ||||||
BJ’s Wholesale Club Holdings * | 10,790 | 611,361 | ||||||
Boston Beer, Cl A * | 845 | 481,827 | ||||||
Casey’s General Stores | 2,893 | 591,792 | ||||||
Central Garden & Pet, Cl A * | 12,123 | 558,265 | ||||||
Coca-Cola | 9,948 | 560,172 | ||||||
Coca-Cola Consolidated | 1,446 | 587,307 | ||||||
Colgate-Palmolive | 7,133 | 556,017 | ||||||
Costco Wholesale | 1,283 | 584,394 | ||||||
Edgewell Personal Care | 13,576 | 574,265 | ||||||
elf Beauty * | 19,898 | 615,843 | ||||||
Flowers Foods | 24,610 | 593,839 | ||||||
Grocery Outlet Holding * | 16,971 | 441,755 | ||||||
Hain Celestial Group * | 14,088 | 527,032 | ||||||
Hershey | 3,131 | 556,379 | ||||||
J & J Snack Foods | 3,470 | 568,247 | ||||||
J M Smucker | 4,332 | 535,738 | ||||||
Kraft Heinz | 15,109 | 543,773 | ||||||
Kroger | 13,315 | 612,889 | ||||||
Lancaster Colony | 2,956 | 523,921 | ||||||
Molson Coors Beverage, Cl B | 11,623 | 552,441 | ||||||
Mondelez International, Cl A | 9,043 | 561,299 | ||||||
National Beverage | 12,837 | 597,563 | ||||||
Nu Skin Enterprises, Cl A | 10,658 | 539,508 | ||||||
PepsiCo | 3,622 | 566,445 | ||||||
Philip Morris International | 5,609 | 577,727 | ||||||
Post Holdings * | 5,632 | 630,278 | ||||||
Procter & Gamble | 3,917 | 557,742 | ||||||
Sanderson Farms | 3,067 | 602,666 | ||||||
Simply Good Foods * | 15,535 | 553,357 | ||||||
Sprouts Farmers Market * | 23,591 | 587,416 | ||||||
Tootsie Roll Industries | 16,576 | 524,630 | ||||||
TreeHouse Foods * | 13,232 | 495,803 | ||||||
Tyson Foods, Cl A | 7,933 | 622,899 | ||||||
Universal | 10,915 | 552,299 | ||||||
USANA Health Sciences * | 5,878 | 570,342 | ||||||
Walgreens Boots Alliance | 11,992 | 608,594 | ||||||
Walmart | 3,906 | 578,479 | ||||||
WD-40 | 2,323 | 556,660 | ||||||
22,057,144 | ||||||||
Energy — 0.4% | ||||||||
DT Midstream | 12,697 | 590,030 | ||||||
Financials — 7.6% | ||||||||
Allstate | 4,329 | 585,627 | ||||||
Aon PLC, Cl A | 2,151 | 617,037 | ||||||
Assurant | 3,585 | 609,844 | ||||||
B Riley Financial | 8,482 | 555,910 | ||||||
Brown & Brown | 10,393 | 603,314 | ||||||
Cboe Global Markets | 4,522 | 570,450 | ||||||
CME Group, Cl A | 2,675 | 539,601 | ||||||
Employers Holdings | 13,726 | 565,099 | ||||||
FactSet Research Systems | 1,554 | 590,862 | ||||||
HCI Group | 5,531 | 617,592 | ||||||
Horace Mann Educators | 14,322 | 587,202 | ||||||
KKR Real Estate Finance Trust ‡ | 26,758 | 570,748 | ||||||
Mercury General | 9,494 | 566,887 | ||||||
Mr Cooper Group * | 14,676 | 570,603 | ||||||
Progressive | 5,854 | 563,974 | ||||||
RenaissanceRe Holdings | 3,659 | 573,475 | ||||||
Safety Insurance Group | 7,256 | 589,985 | ||||||
Stewart Information Services | 9,752 | 613,888 | ||||||
10,492,098 |
3
6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
Health Care — 20.2% | ||||||||
Abbott Laboratories | 4,591 | $ | 580,165 | |||||
AbbVie | 4,849 | 585,663 | ||||||
Amedisys * | 2,177 | 399,371 | ||||||
AmerisourceBergen, Cl A | 4,446 | 543,346 | ||||||
Bristol-Myers Squibb | 8,149 | 544,842 | ||||||
Cardiovascular Systems * | 14,712 | 526,542 | ||||||
Centene * | 8,079 | 508,815 | ||||||
Cerner | 6,969 | 532,083 | ||||||
Chemed | 1,177 | 561,076 | ||||||
Collegium Pharmaceutical * | 22,380 | 459,461 | ||||||
Computer Programs and Systems | 16,571 | 589,431 | ||||||
Corcept Therapeutics * | 25,876 | 550,641 | ||||||
CorVel * | 3,624 | 597,271 | ||||||
CVS Health | 6,844 | 591,253 | ||||||
Danaher | 1,825 | 591,592 | ||||||
DaVita * | 4,172 | 545,572 | ||||||
Eli Lilly | 2,126 | 549,125 | ||||||
Encompass Health | 6,698 | 525,458 | ||||||
Glaukos * | 11,353 | 676,979 | ||||||
HealthStream * | 18,819 | 571,909 | ||||||
Hill-Rom Holdings | 4,060 | 591,055 | ||||||
Humana | 1,309 | 530,695 | ||||||
ICU Medical * | 2,926 | 583,298 | ||||||
Invacare * | 80,083 | 677,502 | ||||||
Jazz Pharmaceuticals * | 3,635 | 478,766 | ||||||
Johnson & Johnson | 3,219 | 557,305 | ||||||
Laboratory Corp of America Holdings * | 1,859 | 563,983 | ||||||
LeMaitre Vascular | 10,094 | 571,522 | ||||||
LHC Group * | 2,592 | 484,082 | ||||||
Magellan Health * | 5,902 | 558,447 | ||||||
Masimo * | 1,996 | 541,994 | ||||||
Merit Medical Systems * | 8,456 | 606,887 | ||||||
Mesa Laboratories | 1,958 | 522,629 | ||||||
ModivCare * | 3,125 | 616,439 | ||||||
NeoGenomics * | 11,753 | 571,431 | ||||||
Neurocrine Biosciences * | 5,987 | 569,962 | ||||||
Omnicell * | 3,740 | 580,710 | ||||||
Pacira BioSciences * | 9,259 | 548,966 | ||||||
Penumbra * | 2,122 | 583,444 | ||||||
Pfizer | 12,352 | 569,057 | ||||||
Prestige Consumer Healthcare * | 10,495 | 602,308 | ||||||
Quidel * | 3,826 | 493,363 | ||||||
Repligen * | 2,208 | 624,820 | ||||||
STAAR Surgical * | 4,335 | 669,627 | ||||||
STERISPLC | 2,578 | 554,296 | ||||||
Supernus Pharmaceuticals * | 20,535 | 565,329 | ||||||
Surmodics * | 10,198 | 612,594 | ||||||
United Therapeutics * | 2,708 | 581,895 | ||||||
Waters * | 1,414 | 585,424 | ||||||
27,628,425 | ||||||||
Industrials — 9.6% | ||||||||
3M | 2,824 | 549,946 | ||||||
AAON | 8,990 | 612,309 | ||||||
Aerojet Rocketdyne Holdings | 11,994 | 497,991 | ||||||
Atlas Air Worldwide Holdings * | 8,289 | 606,506 | ||||||
CACI International, Cl A * | 2,207 | 568,391 | ||||||
Exponent | 5,024 | 587,306 | ||||||
Forrester Research * | 12,344 | 586,957 | ||||||
FTI Consulting * | 3,863 | 539,700 | ||||||
Hub Group, Cl A * | 8,814 | 618,743 | ||||||
Huntington Ingalls Industries | 2,784 | 568,409 | ||||||
JB Hunt Transport Services | 3,330 | 590,741 | ||||||
Knight-Swift Transportation Holdings, Cl A | 11,292 | 586,394 | ||||||
L3Harris Technologies | 2,432 | 566,680 | ||||||
Lockheed Martin | 1,542 | 554,812 | ||||||
ManTech International, Cl A | 6,729 | 532,735 | ||||||
Northrop Grumman | 1,561 | 573,980 | ||||||
Republic Services, Cl A | 4,683 | 581,301 | ||||||
Science Applications International | 6,776 | 570,742 | ||||||
Toro | 4,906 | 539,366 | ||||||
Waste Management | 3,748 | 581,352 | ||||||
Watsco | 1,994 | 555,169 | ||||||
Watts Water Technologies, Cl A | 3,576 | 613,534 | ||||||
Werner Enterprises | 12,360 | 582,898 | ||||||
13,165,962 | ||||||||
Information Technology — 7.2% | ||||||||
Alarmcom Holdings * | 6,643 | 560,204 | ||||||
Aspen Technology * | 3,833 | 496,374 | ||||||
CSG Systems International | 12,551 | 605,083 | ||||||
EVERTEC | 12,398 | 573,408 | ||||||
ExlService Holdings * | 4,858 | 598,214 | ||||||
International Business Machines | 3,908 | 548,449 | ||||||
J2 Global * | 3,950 | 543,915 | ||||||
NETGEAR* | 16,335 | 583,650 | ||||||
NortonLifeLock | 23,045 | 612,075 | ||||||
Oracle | 6,198 | 552,428 | ||||||
OSI Systems * | 5,797 | 573,555 | ||||||
Qualys * | 5,367 | 629,978 | ||||||
Sailpoint Technologies Holdings * | 11,064 | 518,459 | ||||||
SPS Commerce * | 4,970 | 673,584 | ||||||
TTM Technologies * | 39,812 | 557,368 | ||||||
Vonage Holdings * | 39,005 | 549,971 | ||||||
Vontier | 17,344 | 630,801 | ||||||
9,807,516 | ||||||||
Materials — 3.8% | ||||||||
AptarGroup | 4,401 | 593,255 | ||||||
Balchem | 4,262 | 598,470 | ||||||
NewMarket | 1,767 | 617,974 | ||||||
Royal Gold | 4,706 | 523,919 | ||||||
RPM International | 6,583 | 541,715 |
4
6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
Materials (continued) | ||||||||
Sealed Air | 9,625 | $ | 587,414 | |||||
Sherwin-Williams | 1,882 | 571,507 | ||||||
Silgan Holdings | 14,130 | 599,535 | ||||||
Stepan | 4,865 | 571,929 | ||||||
5,205,718 | ||||||||
Real Estate — 10.4% | ||||||||
Apartment Income ‡ | 10,775 | 547,586 | ||||||
Camden Property Trust ‡ | 3,770 | 565,651 | ||||||
CareTrust ‡ | 24,514 | 539,063 | ||||||
Centerspace ‡ | 6,083 | 615,478 | ||||||
Community Healthcare Trust ‡ | 11,510 | 558,350 | ||||||
CoreSite Realty ‡ | 4,007 | 594,519 | ||||||
Crown Castle International ‡ | 2,860 | 556,813 | ||||||
Duke Realty ‡ | 11,010 | 578,135 | ||||||
EastGroup Properties ‡ | 3,214 | 579,356 | ||||||
Extra Space Storage ‡ | 3,176 | 593,626 | ||||||
First Industrial Realty Trust ‡ | 10,227 | 572,610 | ||||||
Four Corners Property Trust ‡ | 19,773 | 565,706 | ||||||
Getty Realty ‡ | 18,023 | 570,067 | ||||||
Healthcare Realty Trust ‡ | 18,151 | 545,075 | ||||||
Independence Realty Trust ‡ | 28,176 | 577,044 | ||||||
Industrial Logistics Properties Trust ‡ | 21,024 | 576,688 | ||||||
Lexington Realty Trust ‡ | 42,772 | 578,705 | ||||||
Life Storage ‡ | 4,705 | 585,490 | ||||||
LTC Properties ‡ | 15,696 | 541,669 | ||||||
Mid-America Apartment Communities ‡ | 2,933 | 564,221 | ||||||
National Storage Affiliates Trust ‡ | 10,213 | 584,694 | ||||||
Physicians Realty Trust ‡ | 30,138 | 557,854 | ||||||
Public Storage ‡ | 1,820 | 588,970 | ||||||
Safehold ‡ | 6,073 | 544,202 | ||||||
SBA Communications, Cl A ‡ | 1,599 | 573,993 | ||||||
14,255,565 | ||||||||
Utilities — 11.4% | ||||||||
Alliant Energy | 9,312 | 566,076 | ||||||
American States Water | 6,185 | 570,319 | ||||||
American Water Works | 3,163 | 576,457 | ||||||
Avista | 13,050 | 546,143 | ||||||
California Water Service Group | 8,637 | 548,881 | ||||||
Chesapeake Utilities | 4,382 | 572,728 | ||||||
DTE Energy | 4,737 | 570,051 | ||||||
Duke Energy | 5,230 | 547,372 | ||||||
Essential Utilities | 11,202 | 555,955 | ||||||
FirstEnergy | 14,672 | 570,301 | ||||||
Hawaiian Electric Industries | 12,829 | 559,344 | ||||||
IDACORP | 5,259 | 554,036 | ||||||
Middlesex Water | 5,219 | 571,011 | ||||||
National Fuel Gas | 10,767 | 557,838 | ||||||
NiSource | 22,105 | 544,888 | ||||||
NorthWestern | 9,012 | 573,162 | ||||||
OGE Energy | 16,368 | 579,590 | ||||||
ONE Gas | 7,560 | 542,959 | ||||||
Pinnacle West Capital | 7,138 | 548,912 | ||||||
PNM Resources | 11,606 | 574,497 | ||||||
PPL | 19,633 | 576,229 | ||||||
Public Service Enterprise Group | 8,821 | 564,015 | ||||||
Sempra Energy | 4,266 | 564,648 | ||||||
South Jersey Industries | 22,079 | 547,780 | ||||||
Southern | 8,717 | 572,968 | ||||||
Southwest Gas Holdings | 7,755 | 545,254 | ||||||
Spire | 7,654 | 510,522 | ||||||
Unitil | 11,116 | 551,354 | ||||||
15,663,290 | ||||||||
Total Common Stock | ||||||||
(Cost $123,420,128) | 135,874,008 | |||||||
SHORT-TERM INVESTMENT — 0.9% | ||||||||
Invesco Government & Agency, CI Institutional, 0.03% | 1,216,635 | 1,216,635 | ||||||
Total Short-Term Investment | ||||||||
(Cost $1,216,635) | 1,216,635 | |||||||
Total Investments - 100.0% | ||||||||
(Cost $124,636,763) | $ | 137,090,643 |
Percentages are based on Net Assets of $137,027,999
* Non-income producing security
‡ Real Estate Investment Trust
Cl — Class
PLC — Public Limited Company
As of August 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under US GAAP
For the period ended August 31, 2021, there have been no transfers in or out of Level 3
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements
MER-QH-001-0300
5
6 Meridian
Mega Cap Equity ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK — 99.7% | ||||||||
Communication Services — 2.8% | ||||||||
Alphabet, Cl C * | 773 | $ | 2,248,843 | |||||
Facebook, Cl A * | 5,974 | 2,266,416 | ||||||
4,515,259 | ||||||||
Consumer Discretionary — 12.9% | ||||||||
Amazoncom * | 631 | 2,190,068 | ||||||
Home Depot | 6,426 | 2,096,033 | ||||||
Lowe’s | 22,023 | 4,490,268 | ||||||
McDonald’s | 8,758 | 2,079,675 | ||||||
NIKE, Cl B | 24,921 | 4,105,486 | ||||||
Target | 24,522 | 6,056,444 | ||||||
21,017,974 | ||||||||
Consumer Staples — 17.2% | ||||||||
Altria Group | 88,112 | 4,425,866 | ||||||
Coca-Cola | 36,967 | 2,081,612 | ||||||
Costco Wholesale | 9,804 | 4,465,624 | ||||||
Kraft Heinz | 54,502 | 1,961,527 | ||||||
Mondelez International, Cl A | 33,134 | 2,056,627 | ||||||
PepsiCo | 13,450 | 2,103,445 | ||||||
Philip Morris International | 63,063 | 6,495,489 | ||||||
Walmart | 29,570 | 4,379,317 | ||||||
27,969,507 | ||||||||
Financials — 21.7% | ||||||||
American Express | 24,845 | 4,123,276 | ||||||
Bank of America | 55,392 | 2,312,616 | ||||||
Berkshire Hathaway, Cl B * | 7,559 | 2,160,135 | ||||||
Capital One Financial | 26,268 | 4,359,700 | ||||||
Citigroup | 62,093 | 4,465,108 | ||||||
Goldman Sachs Group | 11,120 | 4,598,231 | ||||||
JPMorgan Chase | 13,909 | 2,224,745 | ||||||
MetLife | 72,722 | 4,508,764 | ||||||
US Bancorp | 76,284 | 4,377,939 | ||||||
Wells Fargo | 45,920 | 2,098,544 | ||||||
35,229,058 | ||||||||
Health Care — 16.0% | ||||||||
Abbott Laboratories | 17,389 | 2,197,448 | ||||||
AbbVie | 36,427 | 4,399,653 | ||||||
Bristol-Myers Squibb | 61,828 | 4,133,820 | ||||||
CVS Health | 51,032 | 4,408,654 | ||||||
Eli Lilly | 17,054 | 4,404,878 | ||||||
Johnson & Johnson | 12,206 | 2,113,225 | ||||||
Pfizer | 95,667 | 4,407,379 | ||||||
26,065,057 | ||||||||
Industrials — 7.7% | ||||||||
3M | 31,937 | 6,219,411 | ||||||
Caterpillar | 10,249 | 2,161,207 | ||||||
FedEx | 7,613 | 2,022,698 | ||||||
General Dynamics | 10,736 | 2,150,528 | ||||||
12,553,844 | ||||||||
Information Technology — 14.8% | ||||||||
Adobe * | 3,398 | 2,255,253 | ||||||
Broadcom | 4,338 | 2,156,897 | ||||||
Cisco Systems | 37,920 | 2,238,038 | ||||||
Intel | 39,171 | 2,117,584 | ||||||
International Business Machines | 29,738 | 4,173,431 | ||||||
NVIDIA | 21,294 | 4,766,662 | ||||||
Oracle | 24,003 | 2,139,387 | ||||||
QUALCOMM | 14,125 | 2,071,996 | ||||||
Texas Instruments | 11,025 | 2,104,783 | ||||||
24,024,031 | ||||||||
Materials — 4.0% | ||||||||
Dow | 103,043 | 6,481,405 | ||||||
Utilities — 2.6% | ||||||||
Southern | 65,629 | 4,313,794 | ||||||
Total Common Stock | ||||||||
(Cost $142,242,766) | 162,169,929 | |||||||
SHORT-TERM INVESTMENT — 0.3% | ||||||||
Invesco Government & Agency, CI Institutional, 0.03% | 384,155 | 384,155 | ||||||
Total Short-Term Investment | ||||||||
(Cost $384,155) | 384,155 | |||||||
Total Investments - 100.0% | ||||||||
(Cost $142,626,921) | $ | 162,554,084 |
Percentages are based on Net Assets of $162,601,168
* Non-income producing security
Cl — Class
As of August 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under US GAAP
For the period ended August 31, 2021, there have been no transfers in or out of Level 3
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements
MER-QH-001-0300
6
6 Meridian
Small Cap Equity ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK — 99.9% | ||||||||
Communication Services — 1.1% | ||||||||
EW Scripps, Cl A | 34,396 | $ | 637,702 | |||||
Consumer Discretionary — 18.4% | ||||||||
Asbury Automotive Group * | 3,345 | 622,973 | ||||||
Buckle | 15,919 | 616,543 | ||||||
Century Communities | 9,306 | 652,351 | ||||||
Conn’s * | 29,178 | 717,779 | ||||||
Dorman Products * | 6,605 | 619,945 | ||||||
Genesco * | 12,247 | 759,681 | ||||||
Group 1 Automotive | 3,968 | 656,466 | ||||||
Haverty Furniture | 17,998 | 641,269 | ||||||
La-Z-Boy, Cl Z | 19,224 | 673,032 | ||||||
M/I Homes * | 10,374 | 667,982 | ||||||
Sally Beauty Holdings * | 35,201 | 654,387 | ||||||
Shoe Carnival | 20,524 | 785,659 | ||||||
Shutterstock | 6,166 | 710,693 | ||||||
Signet Jewelers | 10,470 | 829,224 | ||||||
Sturm Ruger | 8,444 | 660,236 | ||||||
Zumiez * | 16,186 | 650,515 | ||||||
10,918,735 | ||||||||
Consumer Staples — 5.6% | ||||||||
Coca-Cola Consolidated | 1,675 | 680,318 | ||||||
J & J Snack Foods | 4,020 | 658,315 | ||||||
National Beverage | 14,853 | 691,408 | ||||||
USANA Health Sciences * | 6,807 | 660,483 | ||||||
WD-40 | 2,691 | 644,844 | ||||||
3,335,368 | ||||||||
Energy — 2.1% | ||||||||
Dorian LPG * | 49,298 | 651,720 | ||||||
Helix Energy Solutions Group * | 161,049 | 605,544 | ||||||
1,257,264 | ||||||||
Financials — 22.0% | ||||||||
American Equity Investment Life Holding | 20,489 | 649,296 | ||||||
Axos Financial * | 13,801 | 669,072 | ||||||
BankUnited | 16,190 | 680,466 | ||||||
Banner | 12,308 | 704,018 | ||||||
Cadence BanCorp, Cl A | 34,524 | 742,610 | ||||||
Customers Bancorp * | 17,143 | 709,892 | ||||||
Encore Capital Group * | 13,804 | 679,294 | ||||||
Enova International * | 20,420 | 673,452 | ||||||
First Financial Bancorp | 28,969 | 681,061 | ||||||
Flagstar Bancorp | 13,872 | 686,110 | ||||||
Great Western Bancorp | 21,045 | 651,553 | ||||||
Hilltop Holdings | 20,305 | 679,608 | ||||||
Meta Financial Group | 13,442 | 661,212 | ||||||
Piper Sandler | 4,949 | 707,311 | ||||||
S&T Bancorp | 22,480 | 669,904 | ||||||
Safety Insurance Group | 8,397 | 682,760 | ||||||
Stewart Information Services | 22,689 | 1,428,273 | ||||||
Virtus Investment Partners | 2,268 | 709,204 | ||||||
13,065,096 | ||||||||
Health Care — 12.3% | ||||||||
Cardiovascular Systems * | 17,022 | 609,217 | ||||||
CorVel * | 4,198 | 691,872 | ||||||
HealthStream * | 21,790 | 662,198 | ||||||
LeMaitre Vascular | 11,680 | 661,322 | ||||||
Magellan Health * | 6,829 | 646,160 | ||||||
Mesa Laboratories | 2,268 | 605,375 | ||||||
ModivCare * | 3,620 | 714,081 | ||||||
NeoGenomics * | 13,598 | 661,135 | ||||||
Omnicell * | 4,332 | 672,630 | ||||||
Prestige Consumer Healthcare * | 12,153 | 697,460 | ||||||
Supernus Pharmaceuticals * | 23,760 | 654,113 | ||||||
7,275,563 | ||||||||
Industrials — 10.1% | ||||||||
ABM Industries | 13,835 | 685,109 | ||||||
Aerojet Rocketdyne Holdings | 13,879 | 576,256 | ||||||
ArcBest | 9,902 | 660,760 | ||||||
Atlas Air Worldwide Holdings * | 9,599 | 702,359 | ||||||
Boise Cascade | 12,299 | 711,497 | ||||||
Hub Group, Cl A * | 10,207 | 716,531 | ||||||
Kelly Services, Cl A | 30,004 | 583,278 | ||||||
ManTech International, Cl A | 7,786 | 616,418 | ||||||
Matson | 9,222 | 730,106 | ||||||
5,982,314 | ||||||||
Information Technology — 10.4% | ||||||||
Alarmcom Holdings * | 7,691 | 648,582 | ||||||
Bel Fuse, Cl B | 47,874 | 675,981 | ||||||
BM Technologies * | 0 | 3 | ||||||
CSG Systems International | 14,533 | 700,636 | ||||||
EVERTEC | 14,356 | 663,965 | ||||||
ExlService Holdings * | 5,627 | 692,909 | ||||||
NETGEAR* | 18,914 | 675,797 | ||||||
Sanmina * | 17,026 | 672,186 | ||||||
SPS Commerce * | 5,756 | 780,111 | ||||||
TTM Technologies * | 46,063 | 644,882 | ||||||
6,155,052 | ||||||||
Materials — 3.5% | ||||||||
AdvanSix * | 18,460 | 673,790 | ||||||
Balchem | 4,937 | 693,254 | ||||||
Koppers Holdings * | 21,805 | 717,384 | ||||||
2,084,428 | ||||||||
Real Estate — 7.8% | ||||||||
CareTrust ‡ | 28,362 | 623,680 |
7
6 Meridian
Small Cap Equity ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
Real Estate (continued) | ||||||||
Centerspace ‡ | 7,044 | $ | 712,713 | |||||
Community Healthcare Trust ‡ | 13,318 | 646,056 | ||||||
Getty Realty ‡ | 20,868 | 660,055 | ||||||
Independence Realty Trust ‡ | 32,600 | 667,648 | ||||||
Lexington Realty Trust ‡ | 49,525 | 670,073 | ||||||
Safehold ‡ | 7,033 | 630,227 | ||||||
4,610,452 | ||||||||
Utilities — 6.6% | ||||||||
American States Water | 7,156 | 659,855 | ||||||
Avista | 15,111 | 632,395 | ||||||
California Water Service Group | 10,001 | 635,564 | ||||||
Chesapeake Utilities | 5,076 | 663,433 | ||||||
Middlesex Water | 6,038 | 660,617 | ||||||
Unitil | 12,862 | 637,956 | ||||||
3,889,820 | ||||||||
Total Common Stock | ||||||||
(Cost $53,426,592) | 59,211,794 | |||||||
SHORT-TERM INVESTMENT — 0.1% | ||||||||
Invesco Government & Agency, CI Institutional, 0.03% | 85,951 | 85,951 | ||||||
Total Short-Term Investment | ||||||||
(Cost $85,951) | 85,951 | |||||||
Total Investments - 100.0% | ||||||||
(Cost $53,512,543) | $ | 59,297,745 |
Percentages are based on Net Assets of $59,273,610
‡ Real Estate Investment Trust
* Non-income producing security
Cl — Class
As of August 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under US GAAP
For the period ended August 31, 2021, there have been no transfers in or out of Level 3
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements
MER-QH-001-0300
8
6 Meridian
Quality Growth ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK — 99.7% | ||||||||
Communication Services — 10.0% | ||||||||
Alphabet, Cl A * | 291 | $ | 842,139 | |||||
Facebook, Cl A * | 2,175 | 825,152 | ||||||
1,667,291 | ||||||||
Consumer Discretionary — 23.9% | ||||||||
Acushnet Holdings | 240 | 11,990 | ||||||
Best Buy | 1,579 | 183,969 | ||||||
Crocs * | 428 | 61,127 | ||||||
Deckers Outdoor * | 195 | 81,598 | ||||||
iRobot * | 195 | 15,818 | ||||||
Lowe’s | 3,742 | 762,957 | ||||||
Lululemon Athletica * | 893 | 357,352 | ||||||
NIKE, Cl B | 4,539 | 747,754 | ||||||
NVR* | 23 | 119,139 | ||||||
O’Reilly Automotive * | 488 | 289,911 | ||||||
Pool | 280 | 138,404 | ||||||
Revolve Group, Cl A * | 559 | 32,120 | ||||||
Shutterstock | 170 | 19,594 | ||||||
Skyline Champion * | 378 | 23,708 | ||||||
Sleep Number * | 157 | 14,524 | ||||||
Sturm Ruger | 116 | 9,070 | ||||||
Target | 2,736 | 675,737 | ||||||
Tempur Sealy International | 1,376 | 61,507 | ||||||
Wayfair, Cl A * | 682 | 191,472 | ||||||
Williams-Sonoma | 535 | 99,885 | ||||||
XPEL* | 122 | 9,270 | ||||||
YETI Holdings * | 566 | 56,227 | ||||||
3,963,133 | ||||||||
Consumer Staples — 8.1% | ||||||||
Costco Wholesale | 1,618 | 736,982 | ||||||
Hershey | 1,460 | 259,442 | ||||||
Lancaster Colony | 140 | 24,814 | ||||||
Medifast | 88 | 20,055 | ||||||
Monster Beverage * | 2,531 | 246,950 | ||||||
Nu Skin Enterprises, Cl A | 329 | 16,654 | ||||||
Sprouts Farmers Market * | 832 | 20,717 | ||||||
WD-40 | 94 | 22,525 | ||||||
1,348,139 | ||||||||
Energy — 0.3% | ||||||||
Texas Pacific Land | 41 | 55,749 | ||||||
Financials — 8.0% | ||||||||
Blackstone Group, Cl A | 6,227 | 782,921 | ||||||
Cohen & Steers | 166 | 14,560 | ||||||
FactSet Research Systems | 263 | 99,998 | ||||||
Houlihan Lokey, Cl A | 479 | 43,206 | ||||||
Moelis, Cl A | 511 | 31,656 | ||||||
PJT Partners | 255 | 20,140 | ||||||
T Rowe Price Group | 1,561 | 349,461 | ||||||
1,341,942 | ||||||||
Health Care — 16.6% | ||||||||
ABIOMED* | 302 | 109,916 | ||||||
Amedisys * | 305 | 55,952 | ||||||
Blueprint Medicines * | 376 | 35,070 | ||||||
Chemed | 111 | 52,914 | ||||||
Corcept Therapeutics * | 742 | 15,790 | ||||||
CorVel * | 64 | 10,548 | ||||||
Edwards Lifesciences * | 4,381 | 513,365 | ||||||
Globus Medical, Cl A * | 705 | 57,528 | ||||||
HealthEquity * | 572 | 36,705 | ||||||
Inari Medical * | 213 | 17,436 | ||||||
Intuitive Surgical * | 627 | 660,581 | ||||||
Karuna Therapeutics * | 146 | 17,359 | ||||||
Masimo * | 365 | 99,112 | ||||||
Mettler-Toledo International * | 161 | 250,006 | ||||||
ModivCare * | 87 | 17,162 | ||||||
NuVasive * | 370 | 22,992 | ||||||
Seagen * | 960 | 160,896 | ||||||
STAAR Surgical * | 289 | 44,642 | ||||||
Veeva Systems, Cl A * | 1,089 | 361,526 | ||||||
West Pharmaceutical Services | 525 | 237,101 | ||||||
2,776,601 | ||||||||
Industrials — 8.8% | ||||||||
AAON | 272 | 18,526 | ||||||
Copart * | 1,528 | 220,521 | ||||||
Expeditors International of Washington | 1,213 | 151,188 | ||||||
Exponent | 354 | 41,383 | ||||||
Fastenal | 4,089 | 228,371 | ||||||
Graco | 1,216 | 95,358 | ||||||
Healthcare Services Group | 513 | 13,420 | ||||||
Landstar System | 270 | 45,368 | ||||||
Old Dominion Freight Line | 736 | 212,498 | ||||||
Robert Half International | 758 | 78,377 | ||||||
Rollins | 1,735 | 67,526 | ||||||
Simpson Manufacturing | 304 | 34,398 | ||||||
Toro | 752 | 82,675 | ||||||
Watts Water Technologies, Cl A | 226 | 38,775 | ||||||
WW Grainger | 310 | 134,447 | ||||||
1,462,831 | ||||||||
Information Technology — 23.5% | ||||||||
Accenture PLC, Cl A | 2,211 | 744,134 | ||||||
Adobe * | 1,252 | 830,951 | ||||||
Arista Networks * | 406 | 150,028 | ||||||
Aspen Technology * | 475 | 61,513 | ||||||
Badger Meter | 202 | 21,632 | ||||||
Cadence Design Systems * | 1,946 | 318,132 | ||||||
EPAM Systems * | 369 | 233,507 | ||||||
Extreme Networks * | 844 | 9,141 |
9
6 Meridian
Quality Growth ETF
Schedule of Investments
August 31, 2021 (Unaudited)
Description | Shares | Fair Value | ||||||
Information Technology (continued) | ||||||||
Manhattan Associates * | 432 | $ | 70,412 | |||||
Maximus | 442 | 38,494 | ||||||
Nuance Communications * | 2,013 | 110,816 | ||||||
SPS Commerce * | 248 | 33,611 | ||||||
Texas Instruments | 3,688 | 704,076 | ||||||
Ubiquiti | 46 | 14,967 | ||||||
Wixcom * | 421 | 93,496 | ||||||
Zoom Video Communications, Cl A * | 1,669 | 483,176 | ||||||
3,918,086 | ||||||||
Materials — 0.4% | ||||||||
Balchem | 223 | 31,314 | ||||||
Louisiana-Pacific | 653 | 41,426 | ||||||
72,740 | ||||||||
Real Estate — 0.1% | ||||||||
eXp World Holdings | 457 | 20,953 | ||||||
Total Common Stock | ||||||||
(Cost $15,925,834) | 16,627,465 | |||||||
SHORT-TERM INVESTMENT — 0.4% | ||||||||
Invesco Government & Agency, CI Institutional, 0.03% | 68,744 | 68,744 | ||||||
Total Short-Term Investment | ||||||||
(Cost $68,744) | 68,744 | |||||||
Total Investments - 100.1% | ||||||||
(Cost $15,994,578) | $ | 16,696,209 |
Percentages are based on Net Assets of $16,678,537
* Non-income producing security
Cl — Class
PLC — Public Limited Company
As of August 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under US GAAP.
For the period ended August 31, 2021, there have been no transfers in or out of Level 3.
For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual financial statements.
MER-QH-001-0300
10