Etho Climate Leadership U.S. ETF | ||||||||
Schedule of Investments | ||||||||
June 30, 2021 (Unaudited) | ||||||||
Shares | Value | |||||||
COMMON STOCKS - 99.3% | ||||||||
United States - 99.2% | ||||||||
Air Freight & Logistics - 0.4% | ||||||||
United Parcel Service, Inc. - Class B | 3,534 | $ | 734,966 | |||||
Auto Components - 1.3% | ||||||||
BorgWarner, Inc. | 12,960 | 629,077 | ||||||
Gentex Corp. | 16,843 | 557,335 | ||||||
QuantumScape Corp. (a)(b) | 13,425 | 392,816 | ||||||
XL Fleet Corp. (a)(b) | 66,908 | 557,344 | ||||||
Total Auto Components | 2,136,572 | |||||||
Automobiles - 1.5% | ||||||||
Canoo, Inc. (a)(b) | 66,538 | 661,388 | ||||||
Fisker, Inc. (a)(b) | 34,892 | 672,718 | ||||||
Lordstown Motors Corp. - Class A (a)(b) | 51,048 | 564,591 | ||||||
Tesla, Inc. (b) | 926 | 629,402 | ||||||
Total Automobiles | 2,528,099 | |||||||
Banks - 2.8% | ||||||||
Amalgamated Financial Corp. | 36,216 | 566,056 | ||||||
Bank of Hawaii Corp. (a) | 6,712 | 565,285 | ||||||
Commerce Bancshares, Inc. (a) | 7,843 | 584,774 | ||||||
Cullen/Frost Bankers, Inc. (a) | 5,497 | 615,664 | ||||||
First Horizon Corp. | 35,531 | 613,976 | ||||||
South State Corp. | 7,652 | 625,627 | ||||||
SVB Financial Group (b) | 1,220 | 678,844 | ||||||
Truist Financial Corp. | 10,251 | 568,931 | ||||||
Total Banks | 4,819,157 | |||||||
Biotechnology - 2.3% | ||||||||
Agios Pharmaceuticals, Inc. (a)(b) | 11,634 | 641,150 | ||||||
Alnylam Pharmaceuticals, Inc. (b) | 4,256 | 721,477 | ||||||
Avita Medical, Inc. (a)(b) | 30,314 | 622,043 | ||||||
Biogen, Inc. (b) | 2,147 | 743,442 | ||||||
Seagen, Inc. (a)(b) | 4,326 | 682,989 | ||||||
Vertex Pharmaceuticals, Inc. (b) | 2,794 | 563,354 | ||||||
Total Biotechnology | 3,974,455 | |||||||
Building Products - 3.2% | ||||||||
A.O. Smith Corp. | 8,886 | 640,325 | ||||||
Advanced Drainage Systems, Inc. | 5,854 | 682,401 | ||||||
Armstrong World Industries, Inc. | 6,669 | 715,318 | ||||||
Fortune Brands Home & Security, Inc. | 6,269 | 624,455 | ||||||
Lennox International, Inc. | 1,927 | 675,992 | ||||||
Masco Corp. | 10,031 | 590,926 | ||||||
Simpson Manufacturing Co., Inc. | 5,792 | 639,668 | ||||||
Trex Co., Inc. (a)(b) | 6,563 | 670,804 | ||||||
Total Building Products | 5,239,889 | |||||||
Capital Markets - 3.5% | ||||||||
Affiliated Managers Group, Inc. (a) | 4,032 | 621,775 | ||||||
Ares Management Corp. - Class A | 10,723 | 681,876 | ||||||
Charles Schwab Corp. | 9,170 | 667,668 | ||||||
Interactive Brokers Group, Inc. - Class A | 8,224 | 540,564 | ||||||
KKR & Co, Inc. | 12,247 | 725,512 | ||||||
MarketAxess Holdings, Inc. | 1,206 | 559,090 | ||||||
MSCI, Inc. | 1,432 | 763,370 | ||||||
Northern Trust Corp. | 5,716 | 660,884 | ||||||
T. Rowe Price Group, Inc. (a) | 3,500 | 692,895 | ||||||
Total Capital Markets | 5,913,634 | |||||||
Chemicals - 0.3% | ||||||||
Ecolab, Inc. | 2,807 | 578,158 | ||||||
Commercial Services & Supplies - 1.9% | ||||||||
Cintas Corp. (a) | 1,760 | 672,320 | ||||||
Clean Harbors, Inc. (b) | 7,147 | 665,672 | ||||||
Copart, Inc. (b) | 5,531 | 729,151 | ||||||
Rollins, Inc. | 17,455 | 596,961 | ||||||
Steelcase, Inc. - Class A (a) | 41,753 | 630,888 | ||||||
Total Commercial Services & Supplies | 3,294,992 | |||||||
Communications Equipment - 1.5% | ||||||||
Arista Networks, Inc. (b) | 1,989 | 720,635 | ||||||
Cisco Systems, Inc. | 11,619 | 615,807 | ||||||
F5 Networks, Inc. (b) | 2,864 | 534,594 | ||||||
Motorola Solutions, Inc. | 3,195 | 692,836 | ||||||
Total Communications Equipment | 2,563,872 | |||||||
Construction & Engineering - 0.8% | ||||||||
Ameresco, Inc. - Class A (b) | 12,354 | 774,843 | ||||||
EMCOR Group, Inc. | 5,360 | 660,298 | ||||||
Total Construction & Engineering | 1,435,141 | |||||||
Construction Materials - 0.4% | ||||||||
Vulcan Materials Co. | 3,559 | 619,515 | ||||||
Consumer Finance - 1.7% | ||||||||
American Express Co. | 4,246 | 701,567 | ||||||
Discover Financial Services | 6,323 | 747,947 | ||||||
PROG Holdings, Inc. | 13,878 | 667,948 | ||||||
SLM Corp. | 33,436 | 700,150 | ||||||
Total Consumer Finance | 2,817,612 | |||||||
Containers & Packaging - 1.5% | ||||||||
AptarGroup, Inc. | 4,240 | 597,162 | ||||||
Avery Dennison Corp. | 3,271 | 687,694 | ||||||
Crown Holdings, Inc. | 6,191 | 632,782 | ||||||
Packaging Corp. of America | 4,466 | 604,786 | ||||||
Total Containers & Packaging | 2,522,424 | |||||||
Distributors - 1.3% | ||||||||
Genuine Parts Co. | 5,196 | 657,138 | ||||||
LKQ Corp. (b) | 14,193 | 698,579 | ||||||
Pool Corp. | 1,740 | 798,069 | ||||||
Total Distributors | 2,153,786 | |||||||
Diversified Financial Services - 0.6% | ||||||||
Cannae Holdings, Inc. (b) | 15,164 | 514,211 | ||||||
Voya Financial, Inc. (a) | 9,440 | 580,560 | ||||||
Total Diversified Financial Services | 1,094,771 | |||||||
Diversified Telecommunication Services - 1.4% | ||||||||
AT&T, Inc. | 19,849 | 571,254 | ||||||
ATN International, Inc. | 12,231 | 556,388 | ||||||
Cincinnati Bell, Inc. (b) | 39,141 | 603,555 | ||||||
Verizon Communications, Inc. | 10,332 | 578,902 | ||||||
Total Diversified Telecommunication Services | 2,310,099 | |||||||
Electrical Equipment - 2.6% | ||||||||
Array Technologies, Inc. (b) | 20,147 | 314,293 | ||||||
ChargePoint Holdings, Inc. (a)(b) | 22,502 | 781,719 | ||||||
FuelCell Energy, Inc. (a)(b) | 41,695 | 371,086 | ||||||
Hubbell, Inc. | 3,214 | 600,504 | ||||||
Rockwell Automation, Inc. | 2,263 | 647,263 | ||||||
Romeo Power, Inc. (a)(b) | 72,130 | 587,138 | ||||||
Shoals Technologies Group, Inc. - Class A (a)(b) | 17,275 | 613,263 | ||||||
Sunrun, Inc. (a)(b) | 9,934 | 554,119 | ||||||
Total Electrical Equipment | 4,469,385 | |||||||
Electronic Equipment, Instruments & Components - 3.3% | ||||||||
CDW Corp. | 3,624 | 632,932 | ||||||
Corning, Inc. | 13,808 | 564,747 | ||||||
IPG Photonics Corp. (a)(b) | 2,847 | 600,062 | ||||||
Itron, Inc. (a)(b) | 6,778 | 677,664 | ||||||
Keysight Technologies, Inc. (b) | 4,188 | 646,669 | ||||||
Littelfuse, Inc. | 2,259 | 575,571 | ||||||
National Instruments Corp. | 13,912 | 588,199 | ||||||
Trimble, Inc. (b) | 7,714 | 631,237 | ||||||
Zebra Technologies Corp. - Class A (b) | 1,238 | 655,509 | ||||||
Total Electronic Equipment, Instruments & Components | 5,572,590 | |||||||
Entertainment - 2.2% | ||||||||
Activision Blizzard, Inc. | 6,481 | 618,547 | ||||||
Liberty Media Corp.-Liberty Formula One - Class C (a)(b) | 13,878 | 669,057 | ||||||
Live Nation Entertainment, Inc. (a)(b) | 7,096 | 621,539 | ||||||
Netflix, Inc. (b) | 1,151 | 607,970 | ||||||
Take-Two Interactive Software, Inc. (b) | 3,399 | 601,691 | ||||||
Walt Disney Co. (b) | 3,256 | 572,307 | ||||||
Total Entertainment | 3,691,111 | |||||||
Food & Staples Retailing - 0.7% | ||||||||
PriceSmart, Inc. | 6,171 | 561,623 | ||||||
Sysco Corp. | 7,630 | 593,232 | ||||||
Total Food & Staples Retailing | 1,154,855 | |||||||
Food Products - 1.5% | ||||||||
Beyond Meat, Inc. (a)(b) | 4,593 | 723,351 | ||||||
Hain Celestial Group, Inc. (a)(b) | 13,781 | 552,894 | ||||||
Lamb Weston Holdings, Inc. | 7,754 | 625,438 | ||||||
McCormick & Co., Inc. | 6,756 | 596,690 | ||||||
Total Food Products | 2,498,373 | |||||||
Health Care Equipment & Supplies - 3.8% | ||||||||
Align Technology, Inc. (b) | 1,111 | 678,821 | ||||||
Cooper Cos. (a) | 1,562 | 618,974 | ||||||
Danaher Corporation | 2,668 | 715,984 | ||||||
DexCom, Inc. (b) | 1,670 | 713,090 | ||||||
Edwards Lifesciences Corp. (b) | 7,183 | 743,943 | ||||||
IDEXX Laboratories, Inc. (a)(b) | 1,220 | 770,491 | ||||||
ResMed, Inc. (a) | 3,096 | 763,226 | ||||||
Teleflex, Inc. | 1,445 | 580,587 | ||||||
West Pharmaceutical Services, Inc. | 2,133 | 765,960 | ||||||
Total Health Care Equipment & Supplies | 6,351,076 | |||||||
Health Care Providers & Services - 0.8% | ||||||||
AMN Healthcare Services, Inc. (b) | 8,151 | 790,484 | ||||||
Henry Schein, Inc. (b) | 8,676 | 643,672 | ||||||
Total Health Care Providers & Services | 1,434,156 | |||||||
Health Care Technology - 0.7% | ||||||||
Cerner Corp. | 8,358 | 653,261 | ||||||
Teladoc Health, Inc. (a)(b) | 3,306 | 549,755 | ||||||
Total Health Care Technology | 1,203,016 | |||||||
Hotels, Restaurants & Leisure - 0.7% | ||||||||
Chipotle Mexican Grill, Inc. (a)(b) | 422 | 654,243 | ||||||
Hilton Worldwide Holdings, Inc. (b) | 4,967 | 599,120 | ||||||
Total Hotels, Restaurants & Leisure | 1,253,363 | |||||||
Household Durables - 1.4% | ||||||||
GoPro, Inc. - Class A (a)(b) | 51,617 | 601,338 | ||||||
NVR, Inc. (b) | 127 | 631,609 | ||||||
Tempur Sealy International, Inc. | 16,434 | 644,049 | ||||||
TopBuild Corp. (b) | 2,868 | 567,233 | ||||||
Total Household Durables | 2,444,229 | |||||||
Household Products - 0.3% | ||||||||
Church & Dwight Co., Inc. (a) | 6,877 | 586,058 | ||||||
Independent Power and Renewable Electricity Producers - 1.0% | ||||||||
Clearway Energy, Inc. - Class A | 22,663 | 571,560 | ||||||
Ormat Technologies, Inc. (a) | 7,650 | 531,905 | ||||||
Sunnova Energy International, Inc. (a)(b) | 14,718 | 554,280 | ||||||
Total Independent Power and Renewable Electricity Producers | 1,657,745 | |||||||
Industrial Conglomerates - 0.3% | ||||||||
Insurance - 3.3% | ||||||||
American Financial Group, Inc. | 5,281 | 658,646 | ||||||
American National Group, Inc. | 5,569 | 827,274 | ||||||
Cincinnati Financial Corp. (a) | 5,828 | 679,661 | ||||||
Citizens, Inc. (a)(b) | 103,773 | 548,959 | ||||||
Erie Indemnity Co. - Class A (a) | 2,719 | 525,719 | ||||||
Globe Life, Inc. | 6,218 | 592,265 | ||||||
Hartford Financial Services Group, Inc. | 8,947 | 554,446 | ||||||
MetLife, Inc. | 9,883 | 591,498 | ||||||
W R Berkley Corp. | 7,973 | 593,430 | ||||||
Total Insurance | 5,571,898 | |||||||
Interactive Media & Services - 0.4% | ||||||||
Alphabet, Inc. - Class A (b) | 291 | 710,561 | ||||||
Internet & Direct Marketing Retail - 1.5% | ||||||||
Amazon.com, Inc. (b) | 193 | 663,951 | ||||||
Booking Holdings, Inc. (b) | 257 | 562,339 | ||||||
eBay, Inc. | 9,768 | 685,812 | ||||||
Etsy, Inc. (a)(b) | 2,979 | 613,197 | ||||||
Total Internet & Direct Marketing Retail | 2,525,299 | |||||||
IT Services - 5.8% | ||||||||
Akamai Technologies, Inc. (b) | 5,896 | 687,474 | ||||||
Amdocs, Ltd. | 8,563 | 662,434 | ||||||
Broadridge Financial Solutions, Inc. | 3,924 | 633,844 | ||||||
DXC Technology Co. (b) | 19,220 | 748,426 | ||||||
Fidelity National Information Services, Inc. | 4,273 | 605,356 | ||||||
Fiserv, Inc. (b) | 5,047 | 539,474 | ||||||
Gartner, Inc. (b) | 3,290 | 796,837 | ||||||
Global Payments, Inc. | 2,980 | 558,869 | ||||||
International Business Machines Corp. (a) | 4,508 | 660,828 | ||||||
Jack Henry & Associates, Inc. (a) | 3,959 | 647,336 | ||||||
MasterCard, Inc. - Class A | 1,687 | 615,907 | ||||||
Paychex, Inc. (a) | 6,129 | 657,642 | ||||||
PayPal Holdings, Inc. (b) | 2,472 | 720,539 | ||||||
VeriSign, Inc. (b) | 3,021 | 687,851 | ||||||
Visa, Inc. - Class A (a) | 2,836 | 663,114 | ||||||
Total IT Services | 9,885,931 | |||||||
Leisure Products - 0.3% | ||||||||
Hasbro, Inc. | 6,250 | 590,750 | ||||||
Life Sciences Tools & Services - 0.9% | ||||||||
Bio-Techne Corp. | 1,573 | 708,259 | ||||||
Illumina, Inc. (b) | 1,563 | 739,627 | ||||||
Total Life Sciences Tools & Services | 1,447,886 | |||||||
Machinery - 3.9% | ||||||||
Deere & Co. | 1,605 | 566,100 | ||||||
Dover Corp. | 4,381 | 659,779 | ||||||
Energy Recovery, Inc. (b) | 32,725 | 745,475 | ||||||
Hyliion Holdings Corp. (a)(b) | 56,310 | 656,012 | ||||||
Illinois Tool Works, Inc. | 2,712 | 606,295 | ||||||
Mueller Water Products, Inc. - Class A | 43,256 | 623,752 | ||||||
Parker-Hannifin Corp. | 1,905 | 585,045 | ||||||
Watts Water Technologies, Inc. - Class A | 5,057 | 737,866 | ||||||
Westinghouse Air Brake Technologies Corp. | 7,589 | 624,575 | ||||||
Xylem, Inc. | 5,713 | 685,331 | ||||||
Total Machinery | 6,490,230 | |||||||
Media - 2.1% | ||||||||
Discovery, Inc. - Class A (a)(b) | 13,784 | 422,893 | ||||||
John Wiley & Sons, Inc. - Class A | 11,084 | 667,035 | ||||||
Liberty Broadband Corp. - Class C (b) | 4,001 | 694,814 | ||||||
New York Times Co. - Class A | 11,868 | 516,851 | ||||||
Sirius XM Holdings, Inc. (a) | 98,659 | 645,230 | ||||||
TEGNA, Inc. | 31,907 | 598,575 | ||||||
Total Media | 3,545,398 | |||||||
Metals & Mining - 0.3% | ||||||||
Compass Minerals International, Inc. | 9,580 | 567,711 | ||||||
Multiline Retail - 0.7% | ||||||||
Kohl's Corp. (a) | 10,080 | 555,509 | ||||||
Nordstrom, Inc. (a)(b) | 15,865 | 580,183 | ||||||
Total Multiline Retail | 1,135,692 | |||||||
Personal Products - 0.4% | ||||||||
Estee Lauder Cos., Inc. - Class A | 2,064 | 656,517 | ||||||
Pharmaceuticals - 1.9% | ||||||||
Bristol-Myers Squibb Co. | 9,516 | 635,859 | ||||||
Catalent, Inc. (b) | 5,704 | 616,716 | ||||||
Merck & Co, Inc. | 7,794 | 606,139 | ||||||
Organon & Co. (b) | 778 | 23,542 | ||||||
Pfizer, Inc. | 16,584 | 649,430 | ||||||
Zoetis, Inc. | 3,819 | 711,710 | ||||||
Total Pharmaceuticals | 3,243,396 | |||||||
Professional Services - 0.8% | ||||||||
Robert Half International, Inc. | 7,695 | 684,624 | ||||||
Verisk Analytics, Inc. | 3,399 | 593,873 | ||||||
Total Professional Services | 1,278,497 | |||||||
Real Estate Investment Trusts (REITs) - 4.4% | ||||||||
AGNC Investment Corp. | 35,850 | 605,507 | ||||||
Annaly Capital Management, Inc. (a) | 69,864 | 620,392 | ||||||
Camden Property Trust (a) | 5,465 | 725,042 | ||||||
Gladstone Land Corp. (a) | 32,832 | 789,938 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (a) | 10,728 | 602,377 | ||||||
Hudson Pacific Properties, Inc. | 22,146 | 616,102 | ||||||
Prologis, Inc. | 5,668 | 677,496 | ||||||
Public Storage, Inc. | 2,434 | 731,878 | ||||||
Regency Centers Corp. | 10,595 | 678,822 | ||||||
SBA Communications Corp. | 2,164 | 689,667 | ||||||
UDR, Inc. | 13,698 | 670,928 | ||||||
Total Real Estate Investment Trusts (REITs) | 7,408,149 | |||||||
Road & Rail - 2.4% | ||||||||
AMERCO (a) | 980 | 577,612 | ||||||
CSX Corp. (a) | 18,693 | 599,671 | ||||||
JB Hunt Transport Services, Inc. | 3,573 | 582,220 | ||||||
Landstar System, Inc. | 3,640 | 575,193 | ||||||
Lyft, Inc. - Class A (a)(b) | 9,490 | 573,955 | ||||||
Old Dominion Freight Line, Inc. | 2,498 | 633,993 | ||||||
Ryder System, Inc. | 7,941 | 590,255 | ||||||
Total Road & Rail | 4,132,899 | |||||||
Semiconductors & Semiconductor Equipment - 7.6% | ||||||||
Advanced Micro Devices, Inc. (a)(b) | 7,653 | 718,846 | ||||||
Analog Devices, Inc. (a) | 3,874 | 666,948 | ||||||
Applied Materials, Inc. | 4,508 | 641,939 | ||||||
Cree, Inc. (a)(b) | 5,577 | 546,156 | ||||||
Enphase Energy, Inc. (a)(b) | 3,705 | 680,349 | ||||||
First Solar, Inc. (a)(b) | 6,872 | 621,985 | ||||||
KLA Corp. | 1,813 | 587,793 | ||||||
Lam Research Corp. | 1,008 | 655,906 | ||||||
Maxim Integrated Products, Inc. | 6,538 | 688,844 | ||||||
NVIDIA Corp. | 1,120 | 896,111 | ||||||
ON Semiconductor Corp. (b) | 14,527 | 556,094 | ||||||
Power Integrations, Inc. | 7,329 | 601,418 | ||||||
Qorvo, Inc. (b) | 3,278 | 641,341 | ||||||
Qualcomm, Inc. | 4,509 | 644,471 | ||||||
Rambus, Inc. (b) | 30,906 | 732,780 | ||||||
SunPower Corp. (a)(b) | 18,555 | 542,177 | ||||||
Teradyne, Inc. | 4,922 | 659,351 | ||||||
Texas Instruments, Inc. | 3,161 | 607,860 | ||||||
Universal Display Corp. | 2,537 | 564,051 | ||||||
Xilinx, Inc. | 4,848 | 701,215 | ||||||
Total Semiconductors & Semiconductor Equipment | 12,955,635 | |||||||
Software - 6.5% | ||||||||
Adobe Systems, Inc. (b) | 1,263 | 739,664 | ||||||
Ansys, Inc. (b) | 1,768 | 613,602 | ||||||
Autodesk, Inc. (b) | 2,167 | 632,547 | ||||||
Cadence Design System, Inc. (b) | 4,368 | 597,630 | ||||||
Dolby Laboratories, Inc. - Class A | 6,085 | 598,095 | ||||||
FireEye, Inc. (b) | 30,702 | 620,794 | ||||||
Intuit, Inc. | 1,570 | 769,568 | ||||||
Microsoft Corp. | 2,547 | 689,982 | ||||||
Paycom Software, Inc. (b) | 1,624 | 590,275 | ||||||
salesforce.com, Inc. (b) | 2,835 | 692,505 | ||||||
ServiceNow, Inc. (b) | 1,201 | 660,010 | ||||||
Slack Technologies, Inc. - Class A (b) | 14,788 | 655,108 | ||||||
Splunk, Inc. (b) | 4,435 | 641,212 | ||||||
Tyler Technologies, Inc. (b) | 1,415 | 640,104 | ||||||
VMware, Inc. - Class A (a)(b) | 3,993 | 638,760 | ||||||
Workday, Inc. - Class A (b) | 2,418 | 577,273 | ||||||
Zoom Video Communications, Inc. - Class A (b) | 1,863 | 721,037 | ||||||
Total Software | 11,078,166 | |||||||
Specialty Retail - 3.5% | ||||||||
Advance Auto Parts, Inc. | 3,274 | 671,628 | ||||||
Foot Locker, Inc. | 10,707 | 659,872 | ||||||
L Brands, Inc. | 9,712 | 699,846 | ||||||
Lowe's Cos., Inc. | 3,149 | 610,812 | ||||||
Ross Stores, Inc. | 5,010 | 621,240 | ||||||
The Gap, Inc. | 20,176 | 678,922 | ||||||
TJX Cos., Inc. | 9,083 | 612,376 | ||||||
Tractor Supply Co. | 3,378 | 628,511 | ||||||
Williams-Sonoma, Inc. (a) | 3,351 | 534,987 | ||||||
Total Specialty Retail | 5,718,194 | |||||||
Technology Hardware, Storage & Peripherals - 2.1% | ||||||||
3D Systems Corp. (a)(b) | 21,897 | 875,224 | ||||||
Apple, Inc. | 4,892 | 670,008 | ||||||
Hewlett Packard Enterprise Co. | 38,172 | 556,548 | ||||||
NCR Corp. (b) | 15,781 | 719,771 | ||||||
NetApp, Inc. (a) | 8,267 | 676,406 | ||||||
Total Technology Hardware, Storage & Peripherals | 3,497,957 | |||||||
Thrifts & Mortgage Finance - 1.3% | ||||||||
Capitol Federal Financial, Inc. | 45,364 | 534,388 | ||||||
New York Community Bancorp, Inc. (a) | 47,610 | 524,662 | ||||||
TFS Financial Corp. | 29,495 | 598,749 | ||||||
Washington Federal, Inc. | 19,507 | 619,932 | ||||||
Total Thrifts & Mortgage Finance | 2,277,731 | |||||||
Trading Companies & Distributors - 1.9% | ||||||||
Herc Holdings, Inc. (a)(b) | 5,928 | 664,351 | ||||||
MSC Industrial Direct Co., Inc. - Class A | 6,700 | 601,191 | ||||||
United Rentals, Inc. (b) | 1,831 | 584,107 | ||||||
W.W. Grainger, Inc. | 1,497 | 655,686 | ||||||
WESCO International, Inc. (b) | 7,011 | 720,871 | ||||||
Total Trading Companies & Distributors | 3,226,206 | |||||||
Water Utilities - 1.5% | ||||||||
American States Water Co. | 7,944 | 632,025 | ||||||
American Water Works Co., Inc. | 4,007 | 617,599 | ||||||
California Water Service Group | 10,664 | 592,279 | ||||||
Middlesex Water Co. | 7,602 | 621,311 | ||||||
Total Water Utilities | 2,463,214 | |||||||
Wireless Telecommunication Services - 0.4% | ||||||||
T-Mobile US, Inc. (b) | 4,794 | 694,315 | ||||||
Total United States | 168,155,331 | |||||||
TOTAL COMMON STOCKS (Cost $137,092,093) | 168,155,331 | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 22.7% | ||||||||
Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c) | 38,556,269 | 38,556,269 | ||||||
TOTAL INVESTMENTS PURCHASED WITH SECURITIES LENDING COLLATERAL (Cost $38,556,269) | 38,556,269 | |||||||
SHORT-TERM INVESTMENTS - 0.7% | ||||||||
Money Market Funds - 0.7% | ||||||||
First American Government Obligations Fund - | ||||||||
Class X, 0.03% (c) | 1,153,012 | 1,153,012 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,153,012) | 1,153,012 | |||||||
Total Investments (Cost $176,801,374) - 122.7% | 207,864,612 | |||||||
Liabilities in Excess of Other Assets - (22.7)% | (38,481,652 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 169,382,960 | ||||||
Percentages are stated as a percent of net assets. |
(a) | All or a portion of this security is out on loan as of June 30, 2021. | ||||
(b) | Non-income producing security. | ||||
(c) | The rate quoted is the annualized seven-day yield at June 30, 2021. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services ("Fund Services"). |
ETF Managers Trust
The following is a summary of significant accounting policies consistently followed by ETFMG Prime Junior Silver Miners ETF (“SILJ), ETFMG Prime Cyber Security ETF (“HACK”), ETFMG Prime Mobile Payments ETF (“IPAY”), ETFMG Sit Ultra Short ETF (“VALT”), ETFMG Travel Tech ETF (“AWAY”), ETFMG Treatments, Testing and Advancements ETF (“GERM”), ETFMG Alternative Harvest U.S. ETF (“MJUS”), ETFMG Alternative Harvest ETF (“MJ”), ETFMG Prime 2x Daily Inverse Junior Silver Miners ETF (“SINV”), ETFMG Prime 2x Daily Junior Silver Miners ETF (“SILX”), ETFMG 2x Daily Travel Tech ETF (“AWYX”), Wedbush ETFMG Video Game Tech ETF (“GAMR”), Wedbush ETFMG Global Cloud Technology ETF (“IVES”), BlueStar Israel Technology ETF (“ITEQ”), Etho Climate Leadership U.S. ETF (“ETHO”) and AI Powered Equity ETF (“AIEQ”) (each a “Fund,” or collectively the “Funds”). | |||
Security Valuation. Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded on the valuation date (or at approximately 4:00 pm Eastern Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith by the Board of Trustees (the “Board”). When a security is “fair valued,” consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing procedures adopted by the Funds’ Board. The use of fair value pricing by a Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of June 30, 2021, HACK, IPAY, VALT, AWAY, GERM, MJUS, MJ, SINV, SILX, AWYX, GAMR, IVES, ITEQ, and ETHO did not hold any fair valued securities. As of June 30, 2021, AIEQ held one fair valued security and as of June 30, 2021, SILJ held three fair valued securities. As described above, the Funds utilize various methods to measure the fair value of their investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: | |||
Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access. | ||
Level 2 | Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument 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 relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available. | ||
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The following is a summary of the inputs used to value the Funds’ investments as of June 30, 2021: |
ETHO | ||||||||||||||||
Assets^ | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | $ | 168,155,331 | $ | - | $ | - | $ | 168,155,331 | ||||||||
Short-Term Investments | 1,153,012 | - | - | 1,153,012 | ||||||||||||
Investments Purchased with Securities Lending Collateral* | - | - | - | 38,556,269 | ||||||||||||
Total Investments in Securities | $ | 169,308,343 | $ | - | $ | - | $ | 207,864,612 |
(1) Includes a security valued at $0. | ||||||||
^ See Schedule of Investments for classifications by country and industry | ||||||||
* Certain investments that are measured at fair value used the net asset value per share (or its equivalent) practical expediant have not been | ||||||||
categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value | ||||||||
hierarchy to the amounts presented in the Schedules of Investments. | ||||||||
** Investment was purchased with collateral. | ||||||||
*** Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as swaps. Swaps are reflected as the unrealized appreciation (depreciation) on the instrument. |