| Cambria Micro and SmallCap Shareholder Yield ETF | |||||
| Schedule of Investments | |||||
| July 31, 2024 (Unaudited) | |||||
| Sector Weightings | |||||
| Cambria Micro and SmallCap Shareholder Yield ETF | |||||
Common Stocks | |||||
Financials | 20.8 | % | |||
Industrials | 18.6 | % | |||
Consumer Discretionary | 17.3 | % | |||
Energy | 14.5 | % | |||
Materials | 8.1 | % | |||
Communication Services | 4.9 | % | |||
Information Technology | 4.4 | % | |||
Health Care | 2.1 | % | |||
Consumer Staples | 2.1 | % | |||
Utilities | 1.1 | % | |||
Closed End Funds | 6.1 | % | |||
100.0 | % | ||||
| Percentages are stated as a percent of total investments, excluding short-term investments and investments purchased with proceeds from securities lending. | |||||
| Shares | Value | |||||||
| Common Stocks - 89.8% | ||||||||
| Communication Services - 4.7% | ||||||||
| Nexstar Media Group, Inc. | 2,073 | $ | 383,070 | |||||
| Scholastic Corp. | 9,425 | 295,285 | ||||||
| Sinclair, Inc. | 28,500 | 438,330 | ||||||
| Spok Holdings, Inc. | 22,773 | 349,110 | ||||||
| TEGNA, Inc. | 23,324 | 371,551 | ||||||
1,837,346 | ||||||||
| Consumer Discretionary - 16.5% | ||||||||
| Academy Sports & Outdoors, Inc. | 5,617 | 303,711 | ||||||
Adtalem Global Education, Inc. (a) | 5,411 | 424,276 | ||||||
Asbury Automotive Group, Inc. (a) | 1,672 | 450,136 | ||||||
| Buckle, Inc. | 162 | 6,997 | ||||||
| Caleres, Inc. | 10,662 | 411,127 | ||||||
| Carter's, Inc. | 4,430 | 268,236 | ||||||
| Ethan Allen Interiors, Inc. | 11,043 | 340,897 | ||||||
| Foot Locker, Inc. | 231 | 6,713 | ||||||
| KB Home | 5,284 | 454,847 | ||||||
| Kohl's Corp. | 15,137 | 327,867 | ||||||
Landsea Homes Corp. (a) | 27,998 | 341,016 | ||||||
| Monarch Casino & Resort, Inc. | 5,268 | 412,379 | ||||||
ODP Corp. (a) | 7,078 | 299,045 | ||||||
| Patrick Industries, Inc. | 3,062 | 392,120 | ||||||
| Perdoceo Education Corp. | 20,207 | 500,932 | ||||||
Solo Brands, Inc. - Class A (a) | 168,638 | 403,045 | ||||||
| Steven Madden Ltd. | 8,979 | 407,108 | ||||||
| Sturm Ruger & Co., Inc. | 136 | 6,135 | ||||||
| Travel + Leisure Co. | 7,542 | 347,611 | ||||||
Under Armour, Inc. - Class C (a) | 903 | 6,131 | ||||||
| Upbound Group, Inc. | 10,523 | 397,033 | ||||||
6,507,362 | ||||||||
| Consumer Staples - 2.0% | ||||||||
| Cal-Maine Foods, Inc. | 5,926 | 424,124 | ||||||
| Edgewell Personal Care Co. | 9,232 | 361,433 | ||||||
785,557 | ||||||||
| Energy - 13.9% | ||||||||
| Berry Corp. | 45,030 | 308,906 | ||||||
| California Resources Corp. | 6,577 | 338,321 | ||||||
CNX Resources Corp. (a) | 15,605 | 413,064 | ||||||
CONSOL Energy, Inc. (a) | 4,289 | 428,085 | ||||||
| CVR Energy, Inc. | 10,331 | 295,467 | ||||||
| Dorian LPG Ltd. | 9,603 | 392,378 | ||||||
Gulfport Energy Corp. (a) | 2,267 | 333,725 | ||||||
| Helmerich & Payne, Inc. | 8,200 | 331,444 | ||||||
| International Seaways, Inc. | 6,333 | 354,648 | ||||||
| Liberty Energy, Inc. | 18,191 | 439,313 | ||||||
Newpark Resources, Inc. (a) | 859 | 7,095 | ||||||
| Peabody Energy Corp. | 15,968 | 354,649 | ||||||
| Sitio Royalties Corp. - Class A | 15,234 | 370,948 | ||||||
| SM Energy Co. | 6,895 | 318,549 | ||||||
| VAALCO Energy, Inc. | 55,738 | 399,084 | ||||||
| World Kinect Corp. | 13,746 | 383,926 | ||||||
5,469,602 | ||||||||
| Financials - 19.9% | ||||||||
Bancorp, Inc. (a) | 10,794 | 559,561 | ||||||
Brighthouse Financial, Inc. (a) | 7,025 | 350,337 | ||||||
| Brookfield Asset Management Ltd. | 52 | 2,269 | ||||||
| Cathay General Bancorp | 168 | 7,446 | ||||||
| CNO Financial Group, Inc. | 13,312 | 464,056 | ||||||
| Employers Holdings, Inc. | 7,990 | 383,600 | ||||||
| Enact Holdings, Inc. | 11,617 | 395,327 | ||||||
| First Busey Corp. | 271 | 7,436 | ||||||
Genworth Financial, Inc. (a) | 56,469 | 382,295 | ||||||
| Horace Mann Educators Corp. | 173 | 5,981 | ||||||
| International Bancshares Corp. | 6,603 | 445,306 | ||||||
| Jackson Financial, Inc. | 5,437 | 478,782 | ||||||
| Lincoln National Corp. | 11,566 | 385,148 | ||||||
Marqeta, Inc. - Class A (a) | 59,644 | 321,481 | ||||||
| MGIC Investment Corp. | 16,332 | 405,687 | ||||||
Mr. Cooper Group, Inc. (a) | 4,863 | 437,086 | ||||||
| Navient Corp. | 21,029 | 345,086 | ||||||
| Pathward Financial, Inc. | 7,043 | 475,684 | ||||||
| PROG Holdings, Inc. | 10,645 | 479,664 | ||||||
| Radian Group, Inc. | 11,042 | 409,658 | ||||||
| SLM Corp. | 16,999 | 385,707 | ||||||
| Universal Insurance Holdings, Inc. | 18,660 | 369,655 | ||||||
| Westamerica Bancorp | 132 | 7,123 | ||||||
| Western Union Co. | 26,269 | 312,338 | ||||||
7,816,713 | ||||||||
| Health Care - 2.0% | ||||||||
Innoviva, Inc. (a) | 23,785 | 448,109 | ||||||
| Patterson Cos., Inc. | 13,020 | 328,755 | ||||||
776,864 | ||||||||
| Industrials - 17.8% | ||||||||
| ACCO Brands Corp. | 66,053 | 337,531 | ||||||
| Apogee Enterprises, Inc. | 6,394 | 438,884 | ||||||
| Atkore, Inc. | 2,062 | 278,370 | ||||||
| Brady Corp. - Class A | 6,162 | 441,261 | ||||||
| Deluxe Corp. | 17,747 | 432,672 | ||||||
Gates Industrial Corp. PLC (a) | 22,710 | 422,179 | ||||||
| Genco Shipping & Trading Ltd. | 17,360 | 336,958 | ||||||
GMS, Inc. (a) | 4,200 | 404,166 | ||||||
| Greenbrier Cos., Inc. | 7,248 | 369,720 | ||||||
| Insteel Industries, Inc. | 10,399 | 356,166 | ||||||
| Kelly Services, Inc. - Class A | 14,510 | 341,420 | ||||||
| Kennametal, Inc. | 15,365 | 401,641 | ||||||
| ManpowerGroup, Inc. | 4,975 | 380,985 | ||||||
| Matson, Inc. | 3,090 | 410,074 | ||||||
| MillerKnoll, Inc. | 11,817 | 366,563 | ||||||
| Pangaea Logistics Solutions Ltd. | 918 | 6,665 | ||||||
Proto Labs, Inc. (a) | 179 | 6,233 | ||||||
| REV Group, Inc. | 20,224 | 590,136 | ||||||
SkyWest, Inc. (a) | 5,156 | 412,171 | ||||||
| Wabash National Corp. | 12,684 | 272,579 | ||||||
7,006,374 | ||||||||
| Information Technology - 4.2% | ||||||||
ASGN, Inc. (a) | 4,076 | 385,875 | ||||||
DXC Technology Co. (a) | 16,829 | 342,302 | ||||||
| Immersion Corp. | 52,393 | 669,059 | ||||||
| Xerox Holdings Corp. | 22,773 | 245,151 | ||||||
1,642,387 | ||||||||
| Materials - 7.8% | ||||||||
| Alpha Metallurgical Resources, Inc. | 1,188 | 350,947 | ||||||
| Arch Resources, Inc. | 2,386 | 349,668 | ||||||
| Kronos Worldwide, Inc. | 32,214 | 385,280 | ||||||
LSB Industries, Inc. (a) | 44,746 | 407,636 | ||||||
| Ramaco Resources, Inc. | 29,992 | 407,891 | ||||||
| Ryerson Holding Corp. | 11,637 | 276,844 | ||||||
| SunCoke Energy, Inc. | 37,434 | 437,978 | ||||||
| Sylvamo Corp. | 6,063 | 446,904 | ||||||
3,063,148 | ||||||||
| Utilities - 1.0% | ||||||||
| ALLETE, Inc. | 6,293 | 405,898 | ||||||
Total Common Stocks (Cost $32,009,585) | 35,311,251 | |||||||
| Closed End Funds - 5.8% | ||||||||
| Bain Capital Specialty Finance, Inc. | 22,280 | 373,413 | ||||||
| Barings BDC, Inc. | 36,736 | 368,829 | ||||||
| BlackRock TCP Capital Corp. | 611 | 6,458 | ||||||
| Carlyle Secured Lending, Inc. | 22,016 | 388,803 | ||||||
| CION Investment Corp. | 33,813 | 414,547 | ||||||
| Goldman Sachs BDC, Inc. | 23,240 | 348,368 | ||||||
PennantPark Investment Corp. (b) | 53,630 | 390,963 | ||||||
Total Closed End Funds (Cost $2,178,235) | 2,291,381 | |||||||
| Short-Term Investments - 4.8% | ||||||||
| Investments Purchased with Proceeds from Securities Lending - 0.4% | ||||||||
First American Government Obligations Fund - Class X, 5.23% (c) | 180,000 | 180,000 | ||||||
Money Market Funds - 4.4% First American Treasury Obligations Fund - Class X, 5.20% (c) | 1,725,476 | 1,725,476 | ||||||
Total Short-Term Investments (Cost $1,905,476) | 1,905,476 | |||||||
Total Investments - 100.4% (Cost $36,093,296) | 39,508,108 | |||||||
| Liabilities in Excess of Other Assets - (0.4%) | (156,342 | ) | ||||||
| Total Net Assets - 100.0% | $ | 39,351,766 | ||||||
| Percentages are stated as a percent of net assets. | ||||||||
| BDC - Business Development Company | ||||||||
| PLC - Public Limited Company |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security is on loan as of July 31, 2024. The total market value of these securities was $174,960 which represented 0.4% of net assets. |
| (c) | 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 Micro and SmallCap Shareholder Yield ETF
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Common Stocks | $ | 35,311,251 | $ | – | $ | – | $ | 35,311,251 | ||||||||
| Closed End Funds | 2,291,381 | – | – | 2,291,381 | ||||||||||||
| Investments Purchased with Proceeds from Securities Lending | 180,000 | – | – | 180,000 | ||||||||||||
| Money Market Funds | 1,725,476 | – | – | 1,725,476 | ||||||||||||
| Total Assets | $ | 39,508,108 | $ | – | $ | – | $ | 39,508,108 | ||||||||
| Refer to the Schedule of Investments for further disaggregation of investment categories. | ||||||||||||||||