Cambria Global Real Estate ETF (BLDG) NPORT-P Cambria Global Real Estate ETF (Jul 2021 report)

Sector Weightings
Cambria Shareholder Yield ETF
Financials	25.12%
Consumer Discretionary	21.84%
Materials	15.39%
Industrials	10.71%
Information Technology	8.68%
Energy	7.59%
Communication Services	3.56%
Health Care	3.23%
Consumer Staples	2.74%
Utilities	1.14%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Shareholder Yield ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (99.07%)
Communication Services (3.53%)
AMC Networks, Inc., Class A(a)		55,091	$	2,756,754
Discovery, Inc., Class C(a)(b)		72,179		1,956,773
Fox Corp., Class B		64,169		2,132,977
Lumen Technologies, Inc.		228,196		2,845,604
				9,692,108
Consumer Discretionary (21.63%)
Advance Auto Parts, Inc.(b)		15,130		3,208,468
AutoNation, Inc.(a)		28,747		3,487,874
Big Lots, Inc.(b)		47,971		2,763,609
Brunswick Corp.		26,077		2,722,439
Buckle, Inc.(b)		78,676		3,310,686
Citi Trends, Inc.(a)		37,825		3,016,544
Dillard's, Inc., Class A(b)		26,433		4,844,376
Foot Locker, Inc.		39,605		2,259,861
Guess?, Inc.(b)		113,297		2,528,789
Haverty Furniture Cos., Inc.(b)		73,425		2,642,566
Penske Automotive Group, Inc.		33,019		2,925,483
PulteGroup, Inc.		56,159		3,081,444
Qurate Retail, Inc., Series A		239,321		2,838,347
Ralph Lauren Corp.		21,983		2,495,510
Smith & Wesson Brands, Inc.		164,383		3,854,781
Sturm Ruger & Co., Inc.(b)		35,778		2,660,452
Toll Brothers, Inc.		75,205		4,457,400
Tri Pointe Homes, Inc.(a)		116,590		2,812,151
Whirlpool Corp.		15,664		3,470,203
				59,380,983

	Shares		Value
Consumer Staples (2.71%)
Nu Skin Enterprises, Inc., Class A(b)	58,562	$	3,144,194
Tyson Foods, Inc., Class A(b)	31,239		2,232,339
Walgreens Boots Alliance, Inc.	43,788		2,064,604
			7,441,137
Energy (7.52%)
Chevron Corp.	21,627		2,201,845
CVR Energy, Inc.	129,317		1,766,470
Delek US Holdings, Inc.(a)(b)	139,049		2,416,667
Helmerich & Payne, Inc.	94,251		2,702,176
HollyFrontier Corp.	72,802		2,140,379
Murphy Oil Corp.	201,763		4,380,275
Valero Energy Corp.	36,757		2,461,616
World Fuel Services Corp.	74,315		2,560,895
			20,630,323
Financials (24.89%)
Aflac, Inc.	43,432		2,388,760
Allstate Corp.	20,114		2,615,826
Ally Financial, Inc.	50,018		2,568,925
Ameriprise Financial, Inc.	10,769		2,773,664
Assured Guaranty, Ltd.	53,489		2,557,309
Cathay General Bancorp	65,504		2,480,637
Citizens Financial Group, Inc.	49,395		2,082,493
Comerica, Inc.	37,647		2,584,843
Discover Financial Services	22,339		2,777,184
Federated Hermes, Inc.	78,142		2,534,926
Hilltop Holdings, Inc.	79,477		2,517,831
Hope Bancorp, Inc.	177,288		2,349,066
Investors Bancorp, Inc.	182,361		2,520,229
JPMorgan Chase & Co.	14,240		2,161,347
Lincoln National Corp.	37,380		2,303,356
M&T Bank Corp.	13,706		1,834,548
MetLife, Inc.	37,202		2,146,555
PacWest Bancorp	69,064		2,750,128
PNC Financial Services Group, Inc.	12,460		2,272,829
SLM Corp.	141,510		2,664,633
Sterling Bancorp	116,590		2,531,169
SVB Financial Group(a)	4,680		2,573,813
Synchrony Financial	55,091		2,590,379
Unum Group	80,456		2,204,494
US Bancorp	41,919		2,328,181
Voya Financial, Inc.	36,045		2,321,298
Webster Financial Corp.	48,327		2,324,529
Zions Bancorp NA	48,772		2,543,460
			68,302,412

Health Care (3.20%)
Biogen, Inc.(a)	9,701	3,169,608
McKesson Corp.	11,926	2,430,877

	Shares		Value
Health Care (continued)
Universal Health Services, Inc., Class B	19,847	$	3,183,657
			8,784,142
Industrials (10.61%)
Acuity Brands, Inc.	17,355		3,043,720
Boise Cascade Co.	41,652		2,130,500
Cummins, Inc.	9,879		2,292,916
Deluxe Corp.	65,415		2,871,718
Eaton Corp. PLC	19,224		3,038,353
ManpowerGroup, Inc.	22,339		2,648,959
MasTec, Inc.(a)	30,260		3,063,220
MSC Industrial Direct Co., Inc., Class A(b)	25,098		2,237,989
nVent Electric PLC	81,079		2,562,907
Quanta Services, Inc.	31,239		2,839,625
Snap-on, Inc.(b)	10,947		2,386,227
			29,116,134
Information Technology (8.60%)
Apple, Inc.	29,192		4,257,945
Arrow Electronics, Inc.(a)	20,915		2,479,892
Hewlett Packard Enterprise Co.	147,651		2,140,940
HP, Inc.	85,974		2,482,069
Intel Corp.	50,463		2,710,872
Juniper Networks, Inc.	89,267		2,511,973
Sanmina Corp.(a)	60,965		2,342,275
Western Union Co.	89,712		2,082,216
Xerox Holdings Corp.	107,423		2,592,117
			23,600,299
Materials (15.25%)
Cabot Corp.	51,353		2,827,496
Domtar Corp.(a)	72,980		4,007,332
DuPont de Nemours, Inc.(b)	37,202		2,792,010
Element Solutions, Inc.	141,688		3,314,082
Huntsman Corp.	83,838		2,214,162
International Paper Co.	43,165		2,493,210
Louisiana-Pacific Corp.	63,457		3,518,056
LyondellBasell Industries NV, Class A	25,365		2,519,506
Nucor Corp.	35,600		3,703,112
Reliance Steel & Aluminum Co.	15,753		2,475,584
Resolute Forest Products, Inc.	269,403		3,216,672
Schweitzer-Mauduit International, Inc.	68,467		2,692,807
Steel Dynamics, Inc.	54,112		3,487,518
Worthington Industries, Inc.	40,406		2,584,772
			41,846,319

	Shares		Value
Utilities (1.13%)
UGI Corp.(b)	67,373	$	3,098,484
Total Common Stocks
(Cost $265,487,222)			271,892,341
	Shares		Value
Short-Term Investment (4.33%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)	11,889,068	$	11,889,068
Total Short-Term Investment
(Cost $11,889,068)			11,889,068
Total Investments (103.40%)
(Cost $277,376,290)		$	283,781,409
Liabilities Less Other Assets (-3.40%)			(9,338,498	)
Net Assets (100.00%)		$	274,442,911

Percentages based on Net Assets.

(a)	Non-income producing security.
(b)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $11,511,156.
(c)	Rate shown is the 7-day effective yield as of July 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $11,889,068.

Investment Abbreviations:

PLC - Public Limited Company

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Foreign Shareholder Yield ETF
Financials	24.10%
Materials	21.89%
Industrials	10.83%
Energy	10.26%
Consumer Discretionary	8.32%
Communication Services	7.70%
Information Technology	6.62%
Consumer Staples	3.83%
Utilities	3.30%
Real Estate	1.79%
Other	1.36%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Foreign Shareholder Yield ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (98.15%)
Australia (5.37%)
AGL Energy, Ltd.		23,112	$	122,626
Alumina, Ltd.		145,335		178,112
Bendigo & Adelaide Bank, Ltd.		47,925		363,303
BHP Group, Ltd.		13,176		517,204
Fortescue Metals Group, Ltd.		32,022		585,367
Worley, Ltd.		27,513		225,526
				1,992,138
Belgium (3.17%)
Ageas SA		7,900		417,590
Euronav NV		34,371		298,619
Solvay SA		3,429		457,612
				1,173,821
Canada (20.41%)
ARC Resources, Ltd.		92,735		701,681
Canadian Natural Resources, Ltd.		10,800		356,393
Canadian Tire Corp., Ltd., Class A		2,700		415,388
Canadian Western Bank(a)		10,800		294,412
Corus Entertainment, Inc., Class B		75,600		350,853
Crescent Point Energy Corp.		124,200		453,953
Finning International, Inc.		13,500		349,078
Great-West Lifeco, Inc.		9,461		284,679
Home Capital Group, Inc.(b)		13,500		420,387
Labrador Iron Ore Royalty Corp.		15,780		627,481
Mullen Group, Ltd.		35,100		381,216

	Shares		Value
Canada (continued)
Precision Drilling Corp.(b)	8,100	$	269,437
Russel Metals, Inc.	13,500		380,891
Sun Life Financial, Inc.	5,400		281,254
Suncor Energy, Inc.	10,800		212,607
Teck Resources, Ltd	21,600		493,081
Tourmaline Oil Corp.	24,300		663,400
TransAlta Corp.	35,100		366,024
Transcontinental, Inc., Class A	13,500		267,165
			7,569,380
Denmark (1.29%)
Scandinavian Tobacco Group A/S, Class A(c)	23,355		478,571
Finland (3.15%)
Nokian Renkaat Oyj	12,015		506,831
Sampo Oyj(b)	7,533		362,982
UPM-Kymmene Oyj	7,263		296,727
			1,166,540
France (2.76%)
AXA SA	13,365		346,891
Metropole Television SA	15,930		318,982
Nexity SA	7,101		357,834
			1,023,707
Germany (4.70%)
DWS Group GmbH & Co. KGaA(c)	6,021		284,126
Evonik Industries AG	10,071		350,040
Freenet AG	15,228		364,898
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen	1,951		527,447
United Internet AG	5,211		215,737
			1,742,248
Great Britain (11.80%)
Abrdn PLC	79,299		313,043
Aviva PLC	68,499		368,765
Berkeley Group Holdings PLC	3,834		258,204
Direct Line Insurance Group PLC	60,593		250,737
Legal & General Group PLC	82,034		298,069
Man Group PLC	185,652		510,826
Mondi PLC	14,121		391,781
Persimmon PLC	8,775		354,210
Quilter PLC(c)	124,335		277,214
Rio Tinto PLC	7,350		623,313
Tate & Lyle PLC	35,343		363,147
WPP PLC	28,404		367,181
			4,376,490

	Shares		Value
Hong Kong (9.71%)
China Resources Cement Holdings, Ltd.	175,500	$	144,760
China Resources Power Holdings Co., Ltd.	186,300		320,763
Kingboard Holdings, Ltd.	67,500		353,519
Kingboard Laminates Holdings, Ltd.	210,600		421,138
Kunlun Energy Co., Ltd.	456,300		394,580
Lee & Man Paper Manufacturing, Ltd.	378,000		282,120
New World Development Co., Ltd.	62,100		294,472
Nine Dragons Paper Holdings, Ltd.	243,000		306,128
Shougang Fushan Resources Group, Ltd.	1,998,000		503,925
VTech Holdings, Ltd.	32,400		321,034
Yue Yuen Industrial Holdings, Ltd.(b)	121,500		256,410
			3,598,849
Italy (2.39%)
Anima Holding SpA(c)	67,527		333,073
Eni SpA	25,596		304,362
UnipolSai Assicurazioni SpA	89,802		249,702
			887,137
Japan (16.34%)
Asahi Holdings, Inc.	18,900		372,642
Concordia Financial Group, Ltd.	81,000		289,431
Dai-ichi Life Holdings, Inc.	18,900		346,628
Daiwabo Holdings Co., Ltd.	21,600		433,949
Isuzu Motors, Ltd.	27,000		356,866
Japan Tobacco, Inc.	13,500		263,343
Marubeni Corp.	40,500		341,816
Mixi, Inc.	13,500		338,777
Nippon Carbon Co., Ltd.	8,100		302,721
Nippon Electric Glass Co., Ltd.	16,200		365,480
Nippon Express Co., Ltd.	5,400		391,814
Nippon Yusen KK	8,100		434,146
Nishimatsu Construction Co., Ltd.	10,800		349,483
Nitto Denko Corp.	5,400		398,706
Sumitomo Rubber Industries, Ltd.	27,000		361,050
Ube Industries, Ltd.	16,200		323,985
Yamato Holdings Co., Ltd.	13,500		387,630
			6,058,467
Luxembourg (2.18%)
APERAM SA	7,641		478,588
RTL Group SA	5,832		330,000
			808,588
Netherlands (5.70%)
Aegon NV(a)	76,761		327,262

	Shares		Value
Netherlands (continued)
ASR Nederland NV	8,358	$	343,545
Boskalis Westminster	11,259		354,202
Flow Traders(c)	8,370		340,364
Koninklijke Ahold Delhaize NV	9,423		292,809
NN Group NV	9,126		453,924
			2,112,106
Norway (1.45%)
Telenor ASA	13,638		236,800
Yara International ASA	5,751		302,888
			539,688
Singapore (1.38%)
UMS Holdings, Ltd.	432,000		513,318
Spain (0.67%)
Repsol SA	22,599		247,198
Sweden (2.16%)
Betsson AB	64,908		522,527
Telia Co. AB	63,131		277,139
			799,666
Switzerland (3.52%)
Ferrexpo PLC	65,556		438,121
Holcim, Ltd.(b)	6,615		387,765
Zurich Insurance Group AG	1,188		479,738
			1,305,624
Total Common Stocks
(Cost $32,540,482)			36,393,536

	Shares		Value
Short-Term Investment (0.38%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(d)(e)	141,120	$	141,120
Total Short-Term Investment
(Cost $141,120)			141,120
Total Investments (98.53%)
(Cost $32,681,602)		$	36,534,656
Other Assets Less Liabilities (1.47%)			544,642
Net Assets (100.00%)		$	37,079,298

Percentages based on Net Assets.

(a)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $342,489.
(b)	Non-income producing security.
(c)	Security was purchased pursuant to Rule 144A or Section 4(a)(2) under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers.  As of July 31, 2021, these securities had a total aggregate market value of $1,713,348, which represented approximately 4.62% of net assets.
(d)	Rate shown is the 7-day effective yield as of July 31, 2021.
(e)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $141,120.

Investment Abbreviations:

GmbH - German Company with limited liability

KGaA -  German Master Limited Partnership

Oyj - Finnish public stock company

PLC - Public Limited Company

SpA - Italian Public Limited Company

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Global Value ETF
Financials	26.39%
Materials	18.51%
Utilities	15.95%
Energy	8.54%
Other	7.80%
Consumer Staples	7.57%
Industrials	6.13%
Consumer Discretionary	3.74%
Real Estate	2.75%
Communication Services	2.62%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Global Value ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (89.12%)
Austria (9.39%)
BAWAG Group AG(a)		34,561	$	1,966,269
Erste Group Bank AG		21,594		837,898
Erste Group Bank AG(b)		27,840		1,084,135
IMMOFINANZ AG		51,146		1,212,836
Raiffeisen Bank International AG		54,356		1,287,021
UNIQA Insurance Group AG		129,898		1,114,085
Voestalpine AG		43,442		1,916,006
Wienerberger AG		54,142		2,213,233
				11,631,483
Chile (7.95%)
Banco de Credito e Inversiones SA		27,991		1,154,481
CAP SA		200,197		3,469,025
Cencosud SA		780,244		1,415,139
Cia Cervecerias Unidas SA		125,939		1,360,646
Colbun SA		6,399,242		935,999
Empresa Nacional de Telecomunicaciones SA		176,978		851,442
Latam Airlines Group SA(b)		250,594		660,295
				9,847,027
Czech Republic (8.70%)
CEZ AS		128,186		3,559,588
Komercni banka as(b)		63,772		2,370,072
Moneta Money Bank AS(a)(b)		784,738		3,190,222
Philip Morris CR AS		2,461		1,662,122
				10,782,004

	Shares		Value
Great Britain (7.37%)
Aviva PLC	183,719	$	989,052
Barratt Developments PLC	96,407		942,870
Direct Line Insurance Group PLC	246,956		1,021,918
J Sainsbury PLC	294,678		1,160,411
Kingfisher PLC	208,115		1,065,713
Legal & General Group PLC	270,924		984,398
M&G PLC	342,721		1,073,772
Persimmon PLC	23,540		950,212
Phoenix Group Holdings PLC	100,152		945,807
			9,134,153
Greece (8.31%)
FF Group(b)(c)(d)	25,407		0
Hellenic Petroleum SA	133,429		913,279
Hellenic Telecommunications Organization SA	90,950		1,659,345
JUMBO SA	51,639		820,843
Karelia Tobacco Co. Inc SA(d)	4,564		1,526,766
Motor Oil Hellas Corinth Refineries SA(b)	98,868		1,590,351
Mytilineos SA	88,596		1,643,722
Public Power Corp. SA(b)	198,913		2,135,450
			10,289,756
Poland (10.76%)
Alior Bank SA(b)	203,942		1,954,455
Bank Polska Kasa Opieki SA	38,413		938,464
Eurocash SA(e)	139,207		443,367
Grupa Lotos SA	62,091		855,816
Jastrzebska Spolka Weglowa SA(b)(e)	225,877		2,040,368
KGHM Polska Miedz SA	41,195		2,080,869
PGE Polska Grupa Energetyczna SA(b)	451,219		1,016,633
Polski Koncern Naftowy ORLEN SA	42,907		812,365
Powszechna Kasa Oszczednosci Bank Polski SA(b)	111,173		1,091,963
Santander Bank Polska SA(b)	11,021		733,208
Tauron Polska Energia SA(b)	1,605,453		1,354,373
			13,321,881
Portugal (6.05%)
Altri SGPS SA	54,705		330,635
Corticeira Amorim SGPS SA	138,719		1,727,837
Energias de Portugal SA	346,286		1,797,997
Galp Energia SGPS SA	97,106		947,342
Greenvolt-Energias Renovaveis SA(b)	994		5,607
Jeronimo Martins SGPS SA	31,938		650,702
Mota-Engil SGPS SA(b)(e)	189,390		280,831
Navigator Co. SA	260,331		937,573
NOS SGPS SA	161,035		596,772

	Shares		Value
REN - Redes Energeticas Nacionais SGPS SA	79,435	$	221,912
			7,497,208
Russia (9.29%)
Alrosa PJSC	1,299,408		2,302,360
Gazprom Neft PJSC	344,540		2,003,590
Gazprom PJSC	383,809		1,494,228
Rosneft Oil Co. PJSC	203,728		1,511,866
Sberbank of Russia PJSC	295,907		1,239,194
Severstal PAO	85,386		2,086,795
Unipro PJSC	23,068,772		864,483
			11,502,516
Singapore (7.01%)
CapitaLand, Ltd.	417,300		1,241,167
City Developments, Ltd.	160,500		811,414
ComfortDelGro Corp., Ltd.	577,800		669,505
Golden Agri-Resources, Ltd.	4,439,054		753,520
Jardine Cycle & Carriage, Ltd.	42,800		647,551
Oversea-Chinese Banking Corp., Ltd.	128,400		1,165,593
SATS, Ltd.(b)	288,900		855,005
Sembcorp Industries, Ltd.	481,500		742,710
Sembcorp Marine, Ltd.(b)	2,364,647		200,697
Singapore Airlines, Ltd.(b)	149,800		563,844
United Overseas Bank, Ltd.	53,500		1,037,662
			8,688,668
Spain (7.81%)
Acciona SA(e)	6,866		1,052,311
Banco Bilbao Vizcaya Argentaria SA	111,007		712,534
Banco Santander SA	154,195		564,748
CaixaBank SA	221,854		659,254
Enagas SA	36,406		836,096
Endesa SA	43,026		1,046,825
Ferrovial SA	24,829		736,337
Iberdrola SA(e)	164,067		1,977,391
Mapfre SA	340,309		701,214
Naturgy Energy Group SA(e)	53,425		1,380,954
			9,667,664
Turkey (6.48%)
Akbank TAS	901,715		562,903
Eregli Demir ve Celik Fabrikalari TAS	647,870		1,537,788
Haci Omer Sabanci Holding AS	648,604		729,737
KOC Holding AS	345,768		843,697
Petkim Petrokimya Holding AS(b)	1,897,333		1,276,748
Turkiye Halk Bankasi AS(b)	933,904		508,737
Turkiye Is Bankasi AS, Class C	978,137		611,771
Turkiye Sise ve Cam Fabrikalari AS	892,382		803,843
Turkiye Vakiflar Bankasi TAO, Class D(b)	946,858		388,812

	Shares		Value
Yapi ve Kredi Bankasi AS	2,690,986	$	763,287
			8,027,323
Total Common Stocks
(Cost $105,342,434)			110,389,683
	Shares		Value
Exchange Traded Funds (6.59%)
Colombia (6.59%)
Equity ETF (6.59%)
iShares® MSCI Colombia ETF(e)(f)	861,450		8,169,131
Total Exchange Traded Funds
(Cost $6,913,520)			8,169,131
	Shares		Value
Short-Term Investment (2.59%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(g)(h)	3,211,604	$	3,211,604
Total Short-Term Investment
(Cost $3,211,604)			3,211,604
Total Investments (98.30%)
(Cost $115,467,558)		$	121,770,418
Other Assets Less Liabilities (1.70%)			2,103,010
Net Assets (100.00%)		$	123,873,428

Percentages based on Net Assets.

(a)	Security was purchased pursuant to Rule 144A or Section 4(a)(2) under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers.  As of July 31, 2021, these securities had a total aggregate market value of $5,156,491, which represented approximately 4.16% of net assets.
(b)	Non-income producing security.
(c)	Level 3 security in accordance with fair value hierarchy.
(d)	These securities are considered, by management, to be illiquid.  The aggregate value of these securities at July 31, 2021 was $1,526,766, which represent 1.23% of the Fund's net assets.

(e)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $4,425,579.
(f)	Investment is or was considered to be an affiliate during the reporting period by virtue of the Fund owning at least 5% of shares of the issuer.
(g)	Rate shown is the 7-day effective yield as of July 31, 2021.
(h)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $3,211,604.

Investment Abbreviations:

ETF- Exchange Traded Fund

PJSC - Private Joint Stock Company

PLC - Public Limited Company

MSCI - Morgan Stanley Capital International

Transactions with affiliated companies for the three months ended July 31, 2021 are as follows:

Security Name		Value at April 30, 2021		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2021	Shares at July 31, 2021		Dividend Income
iShares MSCI Colombia ETF	$	8,347,450	$	–	$	–	$	(178,319	)	$	–	$	8,169,131	861,450	$	33,319
	$	8,347,450	$	–	$	–	$	(178,319	)	$	–	$	8,169,131	861,450	$	33,319

Cambria Global Value ETF
Investments in Securities at Value	Level 1 - Quoted and Unadjusted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs(1)		Total
Common Stocks
Austria	$	11,631,483		–	$	–		11,631,483
Chile		9,847,027		–		–		9,847,027
Czech Republic		10,782,004		–		–		10,782,004
Great Britain		9,134,153		–		–		9,134,153
Greece		10,289,756		–		–		10,289,756
Poland		13,321,881		–		–		13,321,881
Portugal		7,497,208		–		–		7,497,208
Russia		11,502,516		–		–		11,502,516
Singapore		8,688,668		–		–		8,688,668
Spain		9,667,664		–		–		9,667,664
Turkey		8,027,323		–		–		8,027,323
Exchange Traded Funds
Colombia		8,169,131		–		–		8,169,131
Short-Term Investment		3,211,604		–		–		3,211,604
Total	$	121,770,418	$	–	$	–	$	121,770,418
For the period ended July 31, 2021 there have been no transfers in or out of Level 3.
Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

⁽¹⁾ Included in Level 3 is one security with total value of $0. A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

Sector Weightings
Cambria Global Momentum ETF
Exchange Traded Funds	100.00%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Global Momentum ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Exchange Traded Funds (98.27%)
Global (34.17%)
Commodity ETF (14.14%)
Invesco DB Base Metals Fund(a)		211,746	$	4,395,847
Invesco DB Energy Fund(a)		279,090		4,462,956
				8,858,803
Equity ETF (20.03%)
iShares® Global Consumer Discretionary ETF(b)		23,609		4,000,309
iShares® Global Materials ETF		53,256		4,954,938
Cambria Global Value ETF*		155,220		3,592,443
				12,547,690
International (15.28%)
Equity ETF (15.28%)
Cambria Emerging Shareholder Yield ETF(b)*		145,717		5,617,390
Cambria Foreign Shareholder Yield ETF(b)*		144,378		3,958,484
				9,575,874
United States (48.82%)
Commodity ETF (6.53%)
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF		200,802		4,090,337
Equity ETF (42.29%)
Cambria Shareholder Yield ETF*		165,160		10,187,069
Cambria Value and Momentum ETF*		318,000		7,387,140
Vanguard® Small-Cap ETF(b)		19,698		4,371,971
Vanguard® Small-Cap Value ETF		26,670		4,555,236
				26,501,416
Total Exchange Traded Funds
(Cost $50,333,908)				61,574,120
		Shares		Value
Short-Term Investment (3.87%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)		2,427,383	$	2,427,383
Total Short-Term Investment
(Cost $2,427,383)				2,427,383
Total Investments (102.14%)
(Cost $52,761,291)			$	64,001,503
Liabilities Less Other Assets (-2.14%)				(1,344,919	)
Net Assets (100.00%)			$	62,656,584

Percentages based on Net Assets.

*	Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor.
(a)	Non-income producing security.
(b)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $2,361,122.
(c)	Rate shown is the 7-day effective yield as of July 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $2,427,383.

Investment Abbreviations:

ETF - Exchange Traded Fund

FTSE - Financial Times Stock Exchange

Transactions with affiliated companies for the three months ended July 31, 2021 are as follows:

Security Name		Value at April 30, 2021		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2021	Shares at July 31, 2021		Dividend Income
Cambria Emerging Shareholder Yield ETF	$	5,783,508	$	–	$	–	$	(166,118	)	$	–	$	5,617,390	145,717	$	155,015
Cambria Foreign Shareholder Yield ETF		4,020,942		–		–		(62,458	)		–		3,958,484	144,378		92,323
Cambria Global Value ETF		3,553,933		–		–		38,510			–		3,592,443	155,220		59,555
Cambria Shareholder Yield ETF		10,330,758		–		–		(143,689	)		–		10,187,069	165,160		51,895
Cambria Value and Momentum ETF		3,875,793		3,847,545		–		(336,198	)		–		7,387,140	318,000		19,274
	$	27,564,934	$	3,847,545	$	–	$	(669,953	)	$	–	$	30,742,526	928,475	$	378,062

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Global Asset Allocation ETF
Exchange Traded Funds	100.00%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Global Asset Allocation ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Exchange Traded Funds (98.55%)
Global (15.75%)
Commodity ETF (0.91%)
Graniteshares Gold Trust(a)		27,506	$	495,658
Equity ETF (14.42%)
Alpha Architect Value Momentum Trend ETF(a)		35,292		975,831
Cambria Global Real Estate ETF*		123,692		4,019,730
Cambria Global Value ETF*		122,400		2,832,850
				7,828,411
Fixed Income ETF (0.42%)
Cambria Global Tail Risk ETF*		10,072		229,743
International (33.55%)
Equity ETF (17.21%)
Alpha Architect International Quantitative Momentum ETF(a)(b)		36,142		1,309,316
Cambria Emerging Shareholder Yield ETF(b)*		145,962		5,626,835
Cambria Foreign Shareholder Yield ETF(b)*		87,754		2,405,996
				9,342,147
Fixed Income ETF (16.34%)
SPDR® FTSE International Government Inflation-Protected Bond ETF		26,078		1,488,532
VanEck Vectors Emerging Markets High Yield Bond ETF(b)		79,900		1,884,841
VanEck Vectors International High Yield Bond ETF(b)		39,882		1,018,271
VanEck Vectors® J.P. Morgan EM Local Currency Bond ETF		69,632		2,166,252

	Shares		Value
Fixed Income ETF (continued)
Vanguard® Total International Bond ETF(b)	39,984	$	2,315,473
			8,873,369
United States (49.25%)
Commodity ETF (8.45%)
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	225,318		4,589,728
Equity ETF (17.84%)
Alpha Architect US Quantitative Momentum ETF(a)(b)	43,486		2,121,573
Cambria Shareholder Yield ETF*	84,422		5,207,149
Cambria Value and Momentum ETF*	101,422		2,356,033
			9,684,755
Fixed Income ETF (22.96%)
iShares® Short Treasury Bond ETF(b)	8,534		942,922
Schwab US TIPS Bond ETF(b)	25,466		1,627,023
Vanguard® Intermediate-Term Corporate Bond ETF	16,422		1,577,990
Vanguard® Intermediate-Term Government Bond ETF	28,322		1,941,473
Vanguard® Long-Term Treasury Bond ETF	19,958		1,811,588
Vanguard® Short-Term Corporate Bond ETF	12,036		997,423
Vanguard® Total Bond Market ETF	41,106		3,566,356
			12,464,775
Total Exchange Traded Funds
(Cost $46,290,487)			53,508,586

	Shares		Value
Short-Term Investment (6.95%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)	3,776,039	$	3,776,039
Total Short-Term Investment
(Cost $3,776,039)			3,776,039
Total Investments (105.50%)
(Cost $50,066,526)		$	57,284,625
Liabilities Less Other Assets (-5.50%)			(2,989,077	)
Net Assets (100.00%)		$	54,295,548

Percentages based on Net Assets.

*	Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor.
(a)	Non-income producing security.
(b)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $3,676,698.
(c)	Rate shown is the 7-day effective yield as of July 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $3,776,039.

Investment Abbreviations:

ETF - Exchange Traded Funds

FTSE - Financial Times Stock Exchange

SPDR - Standard & Poor's Depository Receipt

Transactions with affiliated companies for the six months ended July 31, 2021 are as follows:

Security Name		Value at April 30, 2021		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2021	Share at July 31, 2021		Dividend Income
Cambria Emerging Shareholder Yield ETF	$	5,622,843	$	168,510	$	–	$	(164,518	)	$	–	$	5,626,835	145,962	$	155,276
Cambria Foreign Shareholder Yield ETF		2,372,077		73,352		–		(39,434	)		–		2,405,996	87,754		56,114
Cambria Global Real Estate ETF		3,801,330		118,104		–		100,296			–		4,019,730	123,692		78,137
Cambria Global Value ETF		2,720,057		85,068		–		27,725			–		2,832,850	122,400		46,962
Cambria Shareholder Yield ETF		5,125,284		158,291		–		(76,426	)		–		5,207,149	84,422		26,526
Cambria Global Tail Risk ETF		235,634		–		–		(5,891	)		–		229,743	10,072		–
Cambria Value and Momentum ETF		2,271,007		72,594		–		12,432			–		2,356,033	101,422		6,147
	$	22,148,232	$	675,919	$	–	$	(145,816	)	$	–	$	22,678,336	675,724	$	369,162

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Value and Momentum ETF
Consumer Discretionary	25.38%
Financials	23.11%
Energy	15.28%
Industrials	13.75%
Materials	9.22%
Information Technology	6.34%
Health Care	4.52%
Consumer Staples	1.76%
Communication Services	0.64%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Value and Momentum ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (93.06%)
Communication Services (0.60%)
AMC Networks, Inc., Class A(a)		2,780	$	139,111
Consumer Discretionary (23.62%)
Bed Bath & Beyond, Inc.(a)(b)		8,172		233,229
Big 5 Sporting Goods Corp.(b)		15,944		349,493
Buckle, Inc.(b)		5,800		244,064
Century Communities, Inc.		2,940		204,183
Citi Trends, Inc.(a)		2,240		178,640
Container Store Group, Inc.(a)		10,860		114,247
Dillard's, Inc., Class A(b)		1,920		351,878
Ethan Allen Interiors, Inc.		6,280		149,276
G-III Apparel Group, Ltd.(a)		5,660		169,008
Goodyear Tire & Rubber Co.(a)		3,823		60,059
Green Brick Partners, Inc.(a)		6,660		166,966
Group 1 Automotive, Inc.		1,140		198,064
Haverty Furniture Cos., Inc.		5,180		186,428
Hibbett, Inc.		3,588		318,112
Hovnanian Enterprises, Inc., Class A(a)		1,740		181,639
MarineMax, Inc.(a)		3,380		181,810
Nautilus, Inc.(a)(b)		16,598		239,841
Overstock.com, Inc.(a)		2,529		176,120
Qurate Retail, Inc., Series A		15,428		182,976
Rent-A-Center, Inc., Class A		8,764		501,476
Shoe Carnival, Inc.		5,000		168,500
Smith & Wesson Brands, Inc.		9,016		211,425

	Shares		Value
Consumer Discretionary (continued)
TravelCenters of America, Inc.(a)	5,820	$	168,314
Tupperware Brands Corp.(a)	7,000		146,230
Vista Outdoor, Inc.(a)	7,496		302,763
VOXX International Corp.(a)	8,900		101,638
			5,486,379
Consumer Staples (1.64%)
Nu Skin Enterprises, Inc., Class A	2,200		118,118
United Natural Foods, Inc.(a)	7,944		263,105
			381,223
Energy (14.21%)
Alto Ingredients, Inc.(a)(b)	19,580		103,774
Antero Resources Corp.(a)	47,035		639,676
Bonanza Creek Energy, Inc.	8,396		322,994
Centennial Resource Development, Inc., Class A(a)(b)	38,860		202,460
EQT Corp.(a)	7,940		146,017
Green Plains, Inc.(a)	7,740		273,686
Matador Resources Co.	13,474		416,347
Oil States International, Inc.(a)	27,680		156,669
Ovintiv, Inc.	13,255		340,123
Patterson-UTI Energy, Inc.	23,500		188,470
PDC Energy, Inc.	4,080		161,364
Range Resources Corp.(a)	22,974		349,894
			3,301,474
Financials (21.51%)
Ally Financial, Inc.	3,680		189,005
American Financial Group, Inc.	1,480		187,205
Berkshire Hills Bancorp, Inc.	6,760		182,791
Cadence BanCorp	7,540		143,260
Capital One Financial Corp.	1,180		190,806
CIT Group, Inc.	3,560		171,734
CNO Financial Group, Inc.	7,008		160,063
Cowen, Inc.	5,936		237,321
Customers Bancorp, Inc.(a)	5,520		199,934
Donnelley Financial Solutions, Inc.(a)	6,540		210,653
Great Western Bancorp, Inc.	5,560		171,248
Green Dot Corp., Class A(a)	2,340		107,804
Hanmi Financial Corp.	8,900		162,247
Meta Financial Group, Inc.	4,424		219,873
Morgan Stanley	2,309		221,618
Mr Cooper Group, Inc.(a)	10,502		390,464
Open Lending Corp., Class A(a)(b)	5,220		198,360
PacWest Bancorp	4,480		178,394
Regions Financial Corp.	9,060		174,405
Silvergate Capital Corp., Class A(a)	2,664		273,859
SLM Corp.	9,040		170,223

	Shares		Value
Financials (continued)
Sterling Bancorp	7,300	$	158,483
Stewart Information Services Corp.	2,660		156,967
SuRo Capital Corp.	9,416		114,969
SVB Financial Group(a)	460		252,982
Synovus Financial Corp.	4,160		170,144
			4,994,812
Health Care (4.20%)
Community Health Systems, Inc.(a)	11,960		159,307
Fulgent Genetics, Inc.(a)(b)	1,580		145,755
Molina Healthcare, Inc.(a)	620		169,266
Owens & Minor, Inc.	10,845		501,582
			975,910
Industrials (12.80%)
ArcBest Corp.	3,620		213,978
Atlas Air Worldwide Holdings, Inc.(a)	3,425		229,372
Boise Cascade Co.	4,160		212,784
Comfort Systems USA, Inc.	2,180		162,955
Infrastructure and Energy Alternatives, Inc.(a)(b)	10,676		128,859
MasTec, Inc.(a)	1,960		198,411
MYR Group, Inc.(a)(b)	2,620		250,551
Primoris Services Corp.	5,440		162,656
Quanta Services, Inc.	3,824		347,602
Regal Beloit Corp.	1,140		167,842
Resideo Technologies, Inc.(a)	7,972		235,174
RR Donnelley & Sons Co.(a)	44,000		269,280
Veritiv Corp.(a)(b)	4,140		253,699
Yellow Corp.(a)	26,720		138,944
			2,972,107
Information Technology (5.90%)
Amkor Technology, Inc.	11,542		284,395
Aviat Networks, Inc.(a)(b)	5,160		192,365
SYNNEX Corp.	1,560		186,482
Turtle Beach Corp.(a)(b)	6,104		188,614
Ultra Clean Holdings, Inc.(a)	9,580		517,416
			1,369,272
Materials (8.58%)
AdvanSix, Inc.(a)	6,360		212,742
Alcoa Corp.(a)	7,068		283,780
Intrepid Potash, Inc.(a)	5,460		165,438
Louisiana-Pacific Corp.	3,340		185,170
Nucor Corp.	1,940		201,799
Olympic Steel, Inc.	6,520		196,382
Rayonier Advanced Materials, Inc.(a)	19,280		134,382
Resolute Forest Products, Inc.	19,080		227,815
TimkenSteel Corp.(a)	17,320		230,876

	Shares		Value
Materials (continued)
Worthington Industries, Inc.	2,420	$	154,807
			1,993,191
Total Common Stocks
(Cost $17,816,394)			21,613,479
	Shares		Value
Short-Term Investment (6.59%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)	1,530,619	$	1,530,619
Total Short-Term Investment
(Cost $1,530,619)			1,530,619
Total Investments (99.65%)
(Cost $19,347,013)		$	23,144,098
Other Assets Less Liabilities (0.35%)			80,438
Net Assets (100.00%)		$	23,224,536

Percentages based on Net Assets.

(a)	Non-income producing security.
(b)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $1,486,246.
(c)	Rate shown is the 7-day effective yield as of July 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $1,530,619.

The open futures contracts held by the Fund as of July 31, 2021 are as follows:
Type of Contract	Number of Contracts Short	Expiration Date		Notional Amount			Notional Value			Unrealized Depreciation
S&P® 500 Mini Future	53	Sep-2021	$	(11,198,039	)	$	(11,632,175	)	$	(434,136	)

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Global Tail Risk ETF
Exchange Traded Funds	76.83%
Sovereign Debt	14.46%
Purchased Options	8.71%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Global Tail Risk ETF
Schedule of Investments
July 31, 2021 (Unaudited)
		Shares		Value
Exchange Traded Funds (71.26%)
International (26.78%)
Fixed Income ETF (26.78%)
VanEck Vectors® J.P. Morgan EM Local Currency Bond ETF			29,892	$	929,940
Vanguard® Total International Bond ETF			16,362		947,523
					1,877,463
United States (44.48%)
Fixed Income ETF (44.48%)
iShares® 7-10 Year Treasury Bond ETF(a)			13,177		1,551,065
iShares® TIPS Bond ETF			12,000		1,566,960
					3,118,025
Total Exchange Traded Funds
(Cost $4,873,783)					4,995,488
	Currency		Face Amount		Value
Sovereign Debt (13.42%)
Turkey Government Bond, 8.500%, 9/14/2022	TRY		4,641,000		499,367
Colombian TES
7.000%, 5/4/2022	COP		819,000,000		218,366
7.500%, 8/26/2026	COP		812,500,000		222,714
					940,447
Total Sovereign Debt
(Cost $1,524,357)					940,447
	Contracts		Notional Amount		Value
Purchased Options (8.07%)
Put Options
MSCI EAFE Index-MXEA US
Expires 09/16/21, Strike Price $2,100	5	$	1,160,544	$	4,750
Expires 12/16/21, Strike Price $2,100	13		3,017,415		46,280
Expires 03/17/22, Strike Price $2,150	20		4,642,176		136,300
Expires 06/17/22, Strike Price $2,200	4		928,435		44,700
MSCI Emerging Markets Index-MXEF US
Expires 09/17/21, Strike Price $1,300	5		638,902		22,300
Expires 12/17/21, Strike Price $1,300	12		1,533,366		88,200
Expires 03/18/22, Strike Price $1,250	23		2,938,952		167,440
Expires 06/17/22, Strike Price $1,250	6		766,683		56,100
Total Purchased Options
(Cost $823,861)					566,070
			Shares		Value
Short-Term Investment (16.74%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(b)(c)			1,173,550	$	1,173,550
Total Short-Term Investment
(Cost $1,173,550)					1,173,550
Total Investments (109.49%)
(Cost $8,395,551)				$	7,675,555
Liabilities Less Other Assets (-9.49%)					(665,635	)
Net Assets (100.00%)				$	7,009,920

Percentages based on Net Assets.

^(a) This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $1,153,558.

(b)	Rate shown is the 7-day effective yield as of July 31, 2021.
(c)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $1,173,550.

Currency Abbreviations:

COP — Colombian Peso

TRY— Turkish Lira

Cambria Global Tail Risk ETF
Investments in Securities at Value		Level 1 - Quoted and Unadjusted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
Exchange Traded Funds	$	4,995,488	$	–	$	–	$	4,995,488
Sovereign Debt		–		940,447		–		940,447
Short-Term Investment		1,173,550		–		–		1,173,550
Total	$	6,169,038	$	940,447	$	–	$	7,109,485
Other Financial Instruments
Purchased Options	$	566,070	$	–	$	–	$	566,070
Total	$	566,070	$	–	$	–	$	566,070
As of July 31, 2021, all of the Fund's investments in securities were considered Level 1 or Level 2, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
For the period ended July 31, 2021 there have been no transfers in or out of Level 3.
Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Emerging Shareholder Yield ETF
Materials	32.18%
Information Technology	24.38%
Industrials	12.96%
Consumer Discretionary	7.72%
Energy	7.20%
Financials	4.15%
Consumer Staples	4.08%
Utilities	3.64%
Real Estate	1.40%
Communication Services	0.98%
Health Care	0.67%
Other	0.64%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Emerging Shareholder Yield ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (96.60%)
Australia (1.54%)
BHP Group PLC		33,374	$	1,078,970
Brazil (1.72%)
Camil Alimentos SA		296,000		509,223
Vale SA		33,300		701,389
				1,210,612
China (15.06%)
Angang Steel Co., Ltd., Class H		1,258,000		859,587
Anhui Conch Cement Co., Ltd., Class H		74,000		353,757
Bank of Communications Co., Ltd., Class H		740,000		428,508
China Hongqiao Group, Ltd.		492,100		652,237
China Lilang, Ltd.		740,000		462,789
China Medical System Holdings, Ltd.		222,000		450,219
China National Building Material Co., Ltd., Class H		222,000		239,964
China Petroleum & Chemical Corp., ADR		7,243		331,150
China Sanjiang Fine Chemicals Co., Ltd.		1,380,100		527,451
China Shenhua Energy Co., Ltd., Class H		259,000		489,927

	Shares		Value
China (continued)
Fufeng Group, Ltd.	1,036,000	$	331,951
Greatview Aseptic Packaging Co., Ltd.	1,036,000		439,935
Greenland Hong Kong Holdings, Ltd.	1,591,000		388,990
Greentown Management Holdings Co., Ltd.(a)	1,295,000		773,219
Lonking Holdings, Ltd.	1,591,000		495,450
Qingdao Port International Co., Ltd., Class H(a)	740,000		380,896
Shenzhen Expressway Co., Ltd., Class H	518,000		489,261
Sinopec Shanghai Petrochemical Co., Ltd., ADR	12,701		264,435
Sinotruk Hong Kong, Ltd.	277,500		474,930
Tianneng Power International, Ltd.	222,000		425,080
Yanzhou Coal Mining Co., Ltd., Class H	592,000		879,108
Zhejiang Expressway Co., Ltd., Class H	518,000		437,269
			10,576,113
Colombia (0.62%)
Banco De Bogota Sa	24,605		433,284
Czech Republic (0.95%)
O2 Czech Republic AS	54,427		664,551
India (9.24%)
Balrampur Chini Mills, Ltd.(b)	181,004		927,337
Dhampur Sugar Mills, Ltd.	182,669		873,026
HSIL, Ltd.	261,368		875,441
Phillips Carbon Black, Ltd.(b)	265,031		966,955
Polyplex Corp., Ltd.(b)	45,029		912,017
Redington India, Ltd.	221,741		975,136
Vedanta, Ltd.(b)	235,505		955,280
			6,485,192
Russia (12.92%)
Beluga Group PJSC	12,543		455,291
Federal Grid Co. Unified Energy System PJSC	202,390,000		556,226
Gazprom Neft PJSC	137,640		800,412
Gazprom PJSC	260,850		1,015,530
Inter RAO UES PJSC	6,808,000		404,885
LUKOIL PJSC	10,582		908,697
Magnitogorsk Iron & Steel Works PJSC	962,000		902,897
Novolipetsk Steel PJSC	282,680		998,875
OGK-2 PJSC	58,090,000		536,237

	Shares		Value
Russia (continued)
Sberbank of Russia PJSC	170,570	$	714,310
Severstal PAO	52,540		1,284,054
Unipro PJSC	13,098,000		490,836
			9,068,250
South Africa (11.96%)
AECI, Ltd.	102,083		697,659
African Rainbow Minerals, Ltd.	93,684		1,911,502
Exxaro Resources, Ltd.	36,593		452,840
Impala Platinum Holdings, Ltd.	62,493		1,126,100
Kumba Iron Ore, Ltd.	18,278		970,622
Motus Holdings, Ltd.	117,401		682,070
Reunert, Ltd.	212,333		688,393
Royal Bafokeng Platinum, Ltd.	85,211		674,011
Truworths International, Ltd.	282,357		1,191,002
			8,394,199
South Korea (10.35%)
Chungdahm Learning, Inc.(b)	25,715		762,340
Green Chemical Co., Ltd.	77,034		817,053
Hanmi Semiconductor Co., Ltd.	42,328		1,348,682
Huchems Fine Chemical Corp.	38,591		821,977
KGMobilians Co., Ltd.	67,044		612,008
Kolon Global Corp.	34,891		735,585
Kumho Petrochemical Co., Ltd.	3,256		576,045
Motonic Corp.	53,909		522,569
Samsung C&T Corp.	2,849		350,475
SSANGYONG C&E Co., Ltd.	103,823		718,479
			7,265,213
Taiwan (25.33%)
ASROCK, Inc.	148,000		891,757
Asustek Computer, Inc.	37,000		464,402
Catcher Technology Co., Ltd.	74,000		489,540
Chenbro Micom Co., Ltd.	222,000		592,212
Chicony Electronics Co., Ltd.	185,000		532,541
CyberPower Systems, Inc.	111,000		318,334
Dimerco Express Corp.	296,000		1,074,343
Foxsemicon Integrated Technology, Inc.	37,000		308,278
Gigabyte Technology Co., Ltd.	111,000		396,925
Global Mixed Mode Technology, Inc.	111,000		1,081,620
Holy Stone Enterprise Co., Ltd.	185,000		826,926
Huaku Development Co., Ltd.	185,000		562,310
ITE Technology, Inc.(b)	236,800		1,066,934
Micro-Star International Co., Ltd.	122,100		646,193
Nantex Industry Co., Ltd.	259,000		1,139,174
Nishoku Technology, Inc.	185,000		694,618
Radiant Opto-Electronics Corp.	148,000		558,341

	Shares		Value
Taiwan (continued)
Sea Sonic Electronics Co., Ltd.	233,100	$	854,380
Sitronix Technology Corp.	74,000		1,016,127
Sunonwealth Electric Machine Industry Co., Ltd.	259,000		404,731
Systex Corp.	185,000		578,849
TA-I Technology Co., Ltd.	259,000		632,566
Thinking Electronic Industrial Co., Ltd.	111,000		873,234
Topco Scientific Co., Ltd.	148,000		685,357
Transcend Information, Inc.	185,000		463,079
Tripod Technology Corp.	148,000		635,080
			17,787,851
Thailand (0.65%)
Tisco Financial Group PLC	170,200		455,696
Turkey (6.26%)
Dogus Otomotiv Servis ve Ticaret AS	184,260		558,947
Eczacibasi Yatirim Holding Ortakligi AS	130,573		605,601
Enerjisa Enerji AS(a)	392,533		475,177
Eregli Demir ve Celik Fabrikalari TAS	383,431		910,114
Is Yatirim Menkul Degerler AS	756,317		1,221,632
Tofas Turk Otomobil Fabrikasi AS	160,987		626,294
			4,397,765
Total Common Stocks
(Cost $58,470,447)			67,817,696
Total Investments (96.60%)
(Cost $58,470,447)		$	67,817,696
Other Assets Less Liabilities (3.40%)			2,390,536
Net Assets (100.00%)		$	70,208,232

Percentages based on Net Assets.

(a)	Security was purchased pursuant to Rule 144A or Section 4(a)(2) under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers.  As of July 31, 2021, these securities had a total aggregate market value of $1,629,292, which represented approximately 2.32% of net assets.
(b)	Non-income producing security.

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Tail Risk ETF
U.S. Treasury Obligations	95.19%
Purchased Options	4.81%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Tail Risk ETF
Schedule of Investments
July 31, 2021 (Unaudited)
		Face Amount		Value
U.S. Treasury Obligations (93.64%)
U.S. Treasury Bond, 0.625%, 5/15/2030		$	307,040,000	$	293,055,249
United States Treasury Inflation Indexed Bonds, 0.125%, 7/15/2030			17,251,641		19,596,795
					312,652,044
Total U.S. Treasury Obligations
(Cost $317,824,623)					312,652,044
	Contracts		Notional Amount		Value
Purchased Options (4.74%)
Put Options
S&P 500® Index
Expires 09/17/21, Strike Price $3,900	26	$	11,427,676	$	49,530
Expires 12/17/21, Strike Price $3,700	49		21,536,774		265,580
Expires 12/17/21, Strike Price $3,900	76		33,403,976		581,020
Expires 03/18/22, Strike Price $3,700	92		40,436,392		887,340
Expires 03/18/22, Strike Price $3,900	168		73,840,368		2,135,280
Expires 06/17/22, Strike Price $3,700	86		37,799,236		1,168,310
Expires 06/17/22, Strike Price $3,900	285		125,264,910		4,936,200
Expires 09/15/22, Strike Price $4,100	118		51,864,068		3,109,300

	Contracts		Notional Amount		Value
Purchased Options (continued)
Expires 12/15/22, Strike Price $4,000	98	$	43,073,548	$	2,672,950
Total Purchased Options
(Cost $24,486,427)					15,805,510
Total Investments (98.38%)
(Cost $342,311,050)				$	328,457,554
Other Assets Less Liabilities (1.62%)					5,418,030
Net Assets (100.00%)				$	333,875,584

Percentages based on Net Assets.

Cambria Tail Risk ETF
Investments in Securities at Value		Level 1 - Quoted and Unadjusted Prices		Level 2 - Other Significant Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
U.S. Treasury Obligations	$	–	$	312,652,044	$	–	$	312,652,044
Total	$	–	$	312,652,044	$	–	$	312,652,044
Other Financial Instruments
Purchased Options	$	15,805,510	$	–	$	–	$	15,805,510
Total	$	15,805,510	$	–	$	–	$	15,805,510
For the period ended July 31, 2021 there have been no transfers in or out of Level 3.
Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Trinity ETF
Exchange Traded Funds	100.00%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Trinity ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Exchange Traded Funds (98.81%)
Global (22.46%)
Alternative ETF (1.03%)
iM DBi Managed Futures Strategy ETF(a)		16,281	$	467,325
Commodity ETF (4.89%)
Invesco DB Base Metals Fund(b)		58,245		1,209,166
Invesco DB Energy Fund(b)		63,657		1,017,946
				2,227,112
Equity ETF (16.54%)
Alpha Architect Value Momentum Trend ETF(b)		32,405		896,005
iShares® Global Consumer Discretionary ETF		6,633		1,123,896
iShares® Global Materials ETF		13,332		1,240,409
Cambria Global Real Estate ETF(a)*		48,530		1,577,123
Cambria Global Value ETF*		116,479		2,695,813
				7,533,246
International (19.81%)
Equity ETF (14.33%)
Cambria Emerging Shareholder Yield ETF*		84,632		3,262,563
Cambria Foreign Shareholder Yield ETF*		118,974		3,261,970
				6,524,533
Fixed Income ETF (5.48%)
SPDR® FTSE International Government Inflation-Protected Bond ETF		15,576		889,078
VanEck Vectors® J.P. Morgan EM Local Currency Bond ETF		51,612		1,605,650
				2,494,728

	Shares		Value
United States (56.54%)
Alternative ETF (6.49%)
First Trust Managed Futures Strategy Fund	25,144	$	1,214,203
WisdomTree Managed Futures Strategy Fund	42,219		1,741,593
			2,955,796
Commodity ETF (7.26%)
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	162,373		3,307,538
Equity ETF (28.33%)
Cambria Shareholder Yield ETF*	90,007		5,551,632
Cambria Value and Momentum ETF*	216,499		5,029,272
Vanguard® Small-Cap ETF	5,115		1,135,274
Vanguard® Small-Cap Value ETF	6,930		1,183,644
			12,899,822
Fixed Income ETF (14.46%)
Schwab US TIPS Bond ETF	12,708		811,914
Vanguard® Intermediate-Term Government Bond ETF	51,678		3,542,527
Vanguard® Total Bond Market ETF	25,725		2,231,901
			6,586,342
Total Exchange Traded Funds
(Cost $39,549,389)			44,996,442
	Shares		Value
Short-Term Investment (0.81%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)	366,760	$	366,760
Total Short-Term Investment
(Cost $366,760)			366,760
Total Investments (99.62%)
(Cost $39,916,149)		$	45,363,202
Other Assets Less Liabilities (0.38%)			176,508
Net Assets (100.00%)		$	45,539,710

Percentages based on Net Assets.

*	Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor.
(a)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $356,685.
(b)	Non-income producing security.
(c)	Rate shown is the 7-day effective yield as of July 31, 2021.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $366,760.

Investment Abbreviations:

ETF - Exchange Traded Funds

FTSE - Financial Times Stock Exchange

SPDR - Standard & Poor's Depository Receipt

TIPS - Treasury Inflation Protected Security

Transactions with affiliated companies for the three months ended July 31, 2021 are as follows:

Security Name		Value at April 30, 2021		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2021	Shares at July 31, 2021		Dividend Income
Cambria Emerging Shareholder Yield ETF	$	3,257,557	$	101,269	$	–	$	(96,262	)	$	–	$	3,262,563	84,632	$	90,032
Cambria Foreign Shareholder Yield ETF		3,213,038		104,816		–		(55,884	)		–		3,261,970	118,974		76,078
Cambria Global Real Estate ETF		1,490,084		49,323		–		37,716			–		1,577,123	48,530		30,657
Cambria Global Value ETF		2,586,481		85,190		–		24,142			–		2,695,813	116,479		44,691
Cambria Shareholder Yield ETF		5,459,364		182,300		–		(90,032	)		–		5,551,632	90,007		28,281
Cambria Value and Momentum ETF		3,689,825		1,449,745		–		(110,298	)		–		5,029,272	216,499		13,122
	$	19,696,349	$	1,972,643	$	–	$	(290,618	)	$	–	$	21,378,373	675,121	$	282,861

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Cannabis ETF
Health Care	40.57%
Consumer Staples	33.25%
Consumer Discretionary	8.32%
Real Estate	8.33%
Materials	5.34%
Financials	4.19%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Cannabis ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (96.49%)
Consumer Discretionary (8.03%)
Greenlane Holdings, Inc., Class A(a)(b)		438,690	$	1,561,737
GrowGeneration Corp.(b)		29,778		1,211,071
				2,772,808
Consumer Staples (32.09%)
Altria Group, Inc.		21,000		1,008,840
British American Tobacco PLC		33,936		1,264,428
Constellation Brands, Inc., Class A		8,454		1,896,570
Imperial Brands PLC		41,454		888,522
Neptune Wellness Solutions, Inc.(a)(b)		469,014		378,119
NewAge, Inc.(a)(b)		326,298		623,229
Philip Morris International, Inc.		12,096		1,210,689
Turning Point Brands, Inc.		29,484		1,563,242
Universal Corp.		15,792		823,711
Village Farms International, Inc.(a)(b)		147,336		1,421,792
				11,079,142
Financials (4.04%)
RIV Capital, Inc.(b)		925,638		1,394,837
Health Care (39.15%)
Arena Pharmaceuticals, Inc.(b)		17,766		1,099,005
Aurora Cannabis, Inc.(a)(b)		86,533		607,462
Canopy Growth Corp.(b)		73,920		1,397,827
cbdMD, Inc.(a)(b)		190,562		491,650
Charlottes Web Holdings, Inc.(a)(b)		191,436		615,308
Cronos Group, Inc.(b)		136,626		1,006,933
HEXO Corp.(a)(b)		119,341		474,977
Jazz Pharmaceuticals PLC(b)		9,235		1,565,517
MediPharm Labs Corp.(a)(b)		646,884		222,956

	Shares		Value
Health Care (continued)
Organigram Holdings, Inc.(a)(b)	345,660	$	900,445
Tilray, Inc.(a)(b)	309,452		4,521,094
Valens Co., Inc.(a)(b)	284,004		614,629
			13,517,803
Materials (5.15%)
Scotts Miracle-Gro Co.	10,058		1,779,864
Real Estate (8.03%)
Innovative Industrial Properties, Inc.(c)	12,900		2,773,371
Total Common Stocks
(Cost $36,177,942)			33,317,825
	Shares		Value
Short-Term Investment (26.44%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(d)(e)(f)	9,130,015	$	9,130,015
Total Short-Term Investment
(Cost $9,130,015)			9,130,015
Total Investments (122.93%)
(Cost $45,307,957)		$	42,447,840
Liabilities Less Other Assets (-22.93%)			(7,917,692	)
Net Assets (100.00%)		$	34,530,148

Percentages based on Net Assets.

(a)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $8,410,884.
(b)	Non-income producing security.
(c)	Real Estate Investment Trust.
(d)	Rate shown is the 7-day effective yield as of July 31, 2021.
(e)	To obtain a copy of the fund's shareholder report, please go to the Securities and Exchange Commission's website at www.sec.gov.
(f)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $9,130,015.

Investment Abbreviations:

ADR - American Depository Receipt

PLC - Public Limited Company

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Sector Weightings
Cambria Global Real Estate ETF
Real Estate	100.00%
	100.00%

Percentages based on total investments, excluding investments purchased with collateral from securities loaned.

Cambria Global Real Estate ETF
Schedule of Investments
July 31, 2021 (Unaudited)
	Shares		Value
Common Stocks (98.56%)(a)
Australia (5.21%)
APN Industria REIT		86,880	$	213,585
Aventus Group		94,460		217,662
Charter Hall Group		18,520		221,395
Stockland		59,990		193,704
				846,346
Canada (5.26%)
Dream Industrial Real Estate Investment Trust	��	22,974		295,554
H&R Real Estate Investment Trust		20,831		281,008
SmartCentres Real Estate Investment Trust		11,493		277,836
				854,398
Great Britain (1.46%)
AEW UK REIT PLC		165,860		236,080
Japan (14.23%)
Activia Properties, Inc.		40		181,395
Frontier Real Estate Investment Corp.		40		185,224
Fukuoka REIT Corp.		120		201,595
Heiwa Real Estate REIT, Inc.		130		206,782
Hoshino Resorts REIT, Inc.		30		190,329
Ichigo Hotel REIT Investment Corp.		220		182,890
Japan Metropolitan Fund Invest		200		208,742
Japan Prime Realty Investment Corp.		50		195,069
Kenedix Office Investment Corp.		20		147,122
Kenedix Retail REIT Corp.		70		193,975
Samty Residential Investment Corp.		180		208,705
Tosei Reit Investment Corp.		160		207,684
				2,309,512
Mexico (2.52%)
Concentradora Fibra Danhos SA de CV		191,370		224,957

	Shares		Value
Mexico (continued)
Macquarie Mexico Real Estate Management SA de CV(b)	151,280	$	184,519
			409,476
Netherlands (2.35%)
Vastned Retail NV	6,440		192,515
Wereldhave NV	11,420		188,439
			380,954
Singapore (3.06%)
AIMS APAC REIT	189,030		220,427
ARA LOGOS Logistics Trust	417,000		276,984
			497,411
South Africa (4.42%)
Arrowhead Properties, Ltd., Class B(c)	867,940		189,568
Hyprop Investments, Ltd.(c)	104,400		175,363
SA Corporate Real Estate, Ltd.	1,281,570		179,317
Vukile Property Fund, Ltd.	241,780		173,770
			718,018
Spain (1.30%)
Lar Espana Real Estate Socimi SA(c)	33,550		211,332
United States (58.76%)
American Finance Trust, Inc.	23,110		195,742
American Homes 4 Rent, Class A	5,500		231,000
Armada Hoffler Properties, Inc.	15,930		207,090
Bluerock Residential Growth REIT, Inc.	16,800		214,536
Brandywine Realty Trust	14,230		198,651
Brixmor Property Group, Inc.	8,740		201,195
CareTrust REIT, Inc.	8,530		205,743
Columbia Property Trust, Inc.	11,310		188,538
CubeSmart	4,640		230,422
Duke Realty Corp.	4,370		222,345
EastGroup Properties, Inc.	1,270		223,799
Extra Space Storage, Inc.	1,340		233,347
First Industrial Realty Trust, Inc.	4,000		219,120
Franklin Street Properties Corp.	37,050		193,401
Global Net Lease, Inc.	10,700		197,629
Highwoods Properties, Inc.	4,420		210,790
Industrial Logistics Properties Trust	7,880		213,548
Innovative Industrial Properties, Inc.	1,130		242,939
Iron Mountain, Inc.	4,590		200,858
Kimco Realty Corp.	9,610		204,981
Kite Realty Group Trust	9,230		186,077
Lexington Realty Trust	15,060		198,039
Life Storage, Inc.	2,000		234,720
LTC Properties, Inc.	4,500		170,325
National Health Investors, Inc.(d)	2,630		179,445
National Retail Properties, Inc.	4,280		209,163

	Shares		Value
United States (continued)
Omega Healthcare Investors, Inc.	5,210	$	189,019
One Liberty Properties, Inc.	7,380		225,754
Piedmont Office Realty Trust, Inc., Class A	10,670		202,943
PS Business Parks, Inc.	1,340		205,918
Public Storage	720		224,986
Realty Income Corp.	3,030		212,979
Retail Opportunity Investments Corp.	11,270		199,141
Retail Value, Inc.	10,000		244,400
Rexford Industrial Realty, Inc.	3,580		220,242
Sabra Health Care REIT, Inc.	11,890		221,035
Saul Centers, Inc.	4,520		206,112
SITE Centers Corp.	13,360		211,890
Spirit Realty Capital, Inc.	4,240		212,933
STAG Industrial, Inc.	5,230		216,104
STORE Capital Corp.	5,990		216,778
Tanger Factory Outlet Centers, Inc.(d)	10,270		176,336
UMH Properties, Inc.	9,270		215,806
Urstadt Biddle Properties, Inc., Class A	10,760		205,193
Ventas, Inc.	1,865		111,490
VICI Properties, Inc.	6,570		204,918
			9,537,420
Total Common Stocks
(Cost $14,317,306)			16,000,947
	Shares		Value
Short-Term Investment (1.08%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(e)(f)	175,275	$	175,275
Total Short-Term Investment
(Cost $175,275)			175,275
Total Investments (99.64%)
(Cost $14,492,581)		$	16,176,222
Other Assets Less Liabilities (0.36%)			58,553
Net Assets (100.00%)		$	16,234,775

Percentages based on Net Assets.

(a)	Real Estate Investment Trust.
(b)	Security was purchased pursuant to Rule 144A or Section 4(a)(2) under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers.  As of July 31, 2021, these securities had a total aggregate market value of $184,519, which represented approximately 1.14% of net assets.
(c)	Non-income producing security.
(d)	This security or a partial position of this security is on loan at July 31, 2021. The total value of securities on loan at July 31, 2021 was $166,324.
(e)	Rate shown is the 7-day effective yield as of July 31, 2021.
(f)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2021 was $175,275.

As of July 31, 2021, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.

For the period ended July 31, 2021 there have been no transfers in or out of Level 3.

Please see Note 2 in Notes to Notes to Schedules of Investments for further information regarding fair value measurements.

Cambria ETF Trust

Notes to Schedules of Investments

July 31, 2021 (Unaudited)

1. ORGANIZATION

Cambria ETF Trust (the “Trust”), a Delaware statutory trust, was formed on September 9, 2011 as an open-end registered management investment company under the Investment Company Act of 1940, as amended. The Trust is comprised of multiple exchange traded funds (“ETFs”). These schedules of investments and corresponding notes relate only to Cambria Shareholder Yield ETF, Cambria Foreign Shareholder Yield ETF, Cambria Global Value ETF, Cambria Global Momentum ETF, Cambria Global Asset Allocation ETF, Cambria Value and Momentum ETF, Cambria Global Tail Risk ETF, Cambria Emerging Shareholder Yield ETF, Cambria Tail Risk ETF, Cambria Trinity ETF, Cambria Cannabis ETF, and Cambria Global Real Estate ETF (each, a “Fund” and, collectively, the “Funds”). Cambria Investment Management, L.P. (the “Investment Adviser”) serves as the investment adviser to the Funds. The assets of each Fund are segregated, and a shareholder’s interest is limited to the Fund in which shares are held. Each Fund is diversified and actively managed.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the Significant Accounting Policies followed by 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 the NASDAQ Stock Market (the “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 (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, at the most recent quoted bid.

For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. Debt securities are priced based upon valuations provided by independent, third-party pricing agents, if available. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seeks to obtain a bid price from at least one independent broker.

Futures are valued at the settlement price established for the business day by the board of trade on which they are traded. Settlement prices for financial futures are provided by an independent pricing agent.

Options are valued at the mean between the last bid and ask prices reported from the options exchange on which such options are listed. If there is no reported sale, long options positions are valued at the most recent bid price, and short option positions are valued at the most recent ask price.

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures established by the Board of Trustees (the “Board”). The Funds’ fair value procedures are implemented through a fair value committee (the “Committee”) designated by the Board. Some of the more common reasons that may necessitate that a security be valued using fair value procedures include: the security's trading has been halted or suspended; the security has been de-listed from a national exchange; the security's primary trading market is temporarily closed at a time when under normal conditions it would be open; the security has not been traded for an extended period of time; the security's primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. When a security is valued in accordance with the fair value procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

• Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

• Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

• Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

For the period ended July 31, 2021, there have been no significant changes to the Funds’ fair valuation methodologies.