| Cambria Cannabis ETF |
| Schedule of Investments |
| July 31, 2024 (Unaudited) |
| Sector Weightings | |||||
| Cambria Cannabis ETF | |||||
| Consumer Staples | 56.6 | % | (a) | ||
| Health Care | 31.7 | % | (a) | ||
| Real Estate | 7.1 | % | |||
| Financials | 2.7 | % | |||
| Information Technology | 1.9 | % | |||
| 100.0 | % | ||||
| Percentages are stated as a percent of total investments, excluding short-term investments. | |||||
(a) To the extent that the Fund invests a significant portion of its assets in securities of companies of a single sector, it is more likely to be impacted by events or conditions affecting the sector. |
| Shares | Value | |||||||
| Common Stocks - 53.0% | ||||||||
Consumer Staples - 30.0%(a) | ||||||||
| Altria Group, Inc. | 10,196 | $ | 499,706 | |||||
Boston Beer Co., Inc. - Class A (b) | 1,642 | 460,105 | ||||||
| British American Tobacco PLC | 15,043 | 530,841 | ||||||
| Imperial Brands PLC | 17,930 | 494,188 | ||||||
| Philip Morris International, Inc. | 5,833 | 671,728 | ||||||
| Turning Point Brands, Inc. | 12,337 | 465,352 | ||||||
| Universal Corp. | 6,880 | 367,530 | ||||||
Village Farms International, Inc. (b) | 554,714 | 629,600 | ||||||
4,119,050 | ||||||||
| Financials - 1.4% | ||||||||
| AFC Gamma, Inc. – REIT | 21,645 | 194,155 | ||||||
| Health Care - 16.8% | ||||||||
Cronos Group, Inc. (b) | 257,462 | 630,782 | ||||||
High Tide, Inc. (b) | 207,307 | 385,890 | ||||||
Jazz Pharmaceuticals PLC (b) | 4,305 | 474,626 | ||||||
Rubicon Organics, Inc. (b)(c) | 322,125 | 109,657 | ||||||
SNDL, Inc. (b) | 313,307 | 711,207 | ||||||
2,312,162 | ||||||||
| Information Technology - 1.0% | ||||||||
WM Technology, Inc. (b) | 129,937 | 140,332 | ||||||
| Real Estate - 3.8% | ||||||||
| Innovative Industrial Properties, Inc. – REIT | 4,232 | 519,732 | ||||||
TOTAL COMMON STOCKS (Cost $8,842,003) | 7,285,431 | |||||||
| Short-Term Investments - 17.9% | ||||||||
| Money Market Funds - 17.9% | ||||||||
First American Treasury Obligations Fund - Class X, 5.20% (d) | 2,464,730 | 2,464,730 | ||||||
Total Short-Term Investments (Cost $2,464,730) | 2,464,730 | |||||||
Total Investments - 70.9% (Cost $11,306,733) | 9,750,161 | |||||||
| Other Assets in Excess of Liabilities - 29.1% | 4,001,897 | |||||||
| Total Net Assets - 100.0% | $ | 13,752,058 | ||||||
Percentages are stated as a percent of net assets. | ||||||||
| PLC - Public Limited Company |
| (a) | To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors. |
| (b) | Non-income producing security. |
| (c) | These securities are considered to be illiquid. The aggregate value of these securities at July 31, 2024, was $109,657, which represents 0.8% of the Fund’s net assets. |
| (d) | The rate shown represents the 7-day annualized effective yield as of July 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
| Cambria Cannabis ETF | ||
| Schedule of Total Return Swap Contracts | ||
| July 31, 2024 (Unaudited) |
| Reference Entity | Counterparty | Long/ Short | Maturity Date | Financing Rate(a) | Payment Frequency | Notational Amount | Upfront Payments (Receipts) | Value/ Unrealized Appreciation (Depreciation)(b) | ||||||||
| AYR Wellness | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.82% | Month | $388,335 | $- | $- | ||||||||
| Cresco Labs, Inc. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 251,038 | - | - | ||||||||
| Glass House Brands, Inc. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 1,197,026 | - | - | ||||||||
| Green Thumb Industries, Inc. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 667,647 | - | - | ||||||||
| Grown Rogue International, Inc. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 1,132,648 | - | - | ||||||||
| Terrascend Corp. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 425,814 | - | - | ||||||||
| Trulieve Cannabis Corp. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 677,892 | - | - | ||||||||
| Verano Holdings Corp. | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 618,116 | - | - | ||||||||
| Vireo Growth | Nomura Securities International, Inc. | Long | 04/15/2025 | 6.87% | Month | 586,236 | - | - | ||||||||
| $- | $- | |||||||||||||||
| (a) | Floating rate based on the overnight bank rate and spread of 155 basis points and is reset monthly. | ||||
| (b) | As of July 31, 2024, the balance of unrealized appreciation (depreciation) of swap contracts was $0 due to the reset of swaps on July 31, 2024. | ||||
| The average monthly notional value of long swap contracts during the period ended July 31, 2024, was $1,600,965. | |||||
| Cambria Cannabis ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Common Stocks | $ | 7,285,431 | $ | – | $ | – | $ | 7,285,431 | ||||||||
| Money Market Funds | 2,464,730 | – | – | 2,464,730 | ||||||||||||
| Total Investments | $ | 9,750,161 | $ | – | $ | – | $ | 9,750,161 | ||||||||
Other Financial Instruments(a): | ||||||||||||||||
| Liabilities: | ||||||||||||||||
| Total Return Swaps | - | – | – | - | ||||||||||||
| Total Other Financial Instruments | $ | - | $ | – | $ | – | $ | - | ||||||||
| (a) The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of July 31, 2024. | ||||||||||||||||
Refer to the Schedule of Investments for industry classifications. | ||||||||||||||||