Cambria Tail Risk ETF (TAIL) NPORT-P Cambria Emerging Shareholder Yield ETF (Jul 2022 report)

Sector Weightings
Cambria Shareholder Yield ETF
Consumer Discretionary	24.77%
Financials	24.18%
Materials	18.90%
Energy	12.09%
Industrials	6.97%
Information Technology	5.28%
Health Care	5.00%
Communication Services	1.71%
Consumer Staples	1.10%
	100.00%

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

Cambria Shareholder Yield ETF

Schedule of Investments

July 31, 2022 (Unaudited)

	Shares		Value
Common Stocks (99.26%)
Communication Services (1.70%)
Fox Corp., Class B		130,501	$	4,032,481
Lumen Technologies, Inc.		464,084		5,053,875
				9,086,356
Consumer Discretionary (24.59%)
Abercrombie & Fitch Co., Class A(a)		126,180		2,247,266
Advance Auto Parts, Inc.		30,770		5,957,687
AutoNation, Inc.(a)		58,463		6,941,897
Bed Bath & Beyond, Inc.(a)(b)		435,032		2,188,211
Big 5 Sporting Goods Corp.(b)		317,159		4,078,665
Big Lots, Inc.(b)		169,235		3,416,855
Caleres, Inc.		196,204		4,869,783
Citi Trends, Inc.(a)		140,818		3,461,307
Dick's Sporting Goods, Inc.(b)		45,974		4,302,707
Dillard's, Inc., Class A(b)		53,757		12,221,654
Ethan Allen Interiors, Inc.		192,584		4,427,506
Foot Locker, Inc.		132,854		3,769,068
Grand Canyon Education, Inc.(a)		57,377		5,512,208
Haverty Furniture Cos., Inc.		149,325		4,081,052
Hibbett, Inc.		62,460		2,930,623
LKQ Corp.		97,380		5,340,319
Macy's, Inc.		235,119		4,149,850
ODP Corp.(a)		110,591		4,014,453
Penske Automotive Group, Inc.		67,151		7,688,118
PulteGroup, Inc.		114,211		4,981,884
Smith & Wesson Brands, Inc.		334,307		4,864,167
Sturm Ruger & Co., Inc.		72,762		4,811,751
Tapestry, Inc.		138,646		4,662,665

	Shares		Value
Consumer Discretionary (continued)
Toll Brothers, Inc.		152,945	$	7,521,835
Tri Pointe Homes, Inc.(a)		237,110		4,391,277
Whirlpool Corp.		31,856		5,506,947
Zumiez, Inc.(a)		126,700		3,294,200
				131,633,955
Consumer Staples (1.09%)
Sprouts Farmers Market, Inc.(a)		211,227		5,838,314
Energy (12.01%)
APA Corp.		122,899		4,568,156
California Resources Corp.		112,944		5,066,668
Chord Energy Corp.		52,560		6,740,295
CNX Resources Corp.(a)		317,112		5,476,524
CVR Energy, Inc.		262,993		8,820,785
Diamondback Energy, Inc.		43,259		5,538,017
Exxon Mobil Corp.		60,997		5,912,439
Helmerich & Payne, Inc.		191,679		8,874,738
Marathon Oil Corp.		200,729		4,978,079
Valero Energy Corp.(b)		74,753		8,280,390
				64,256,091
Financials (24.00%)
Aflac, Inc.		88,328		5,061,194
Allstate Corp.		40,906		4,784,775
Ally Financial, Inc.		101,722		3,363,946
American Financial Group, Inc.		39,096		5,226,353
Ameriprise Financial, Inc.		21,901		5,911,518
Assured Guaranty, Ltd.		108,781		6,351,723
Cathay General Bancorp		133,216		5,555,107
Citizens Financial Group, Inc.		110,138		4,181,940
Comerica, Inc.		76,563		5,954,304
Discover Financial Services		45,431		4,588,531
Encore Capital Group, Inc.(a)		88,690		6,423,817
Federated Hermes, Inc.		158,918		5,420,693
First Horizon Corp.		219,010		4,897,064
Hilltop Holdings, Inc.		161,633		4,663,112
Hope Bancorp, Inc.		360,552		5,422,702
JPMorgan Chase & Co.		28,960		3,340,826
Lincoln National Corp.		76,020		3,902,867
Loews Corp.		89,233		5,197,822
MetLife, Inc.		75,658		4,785,368
Mr Cooper Group, Inc.(a)		106,247		4,786,427
Principal Financial Group, Inc.		79,821		5,343,218
SLM Corp.		287,790		4,489,524
Synchrony Financial		112,039		3,751,066
Unum Group		163,624		5,267,057
Voya Financial, Inc.		73,305		4,410,029

	Shares		Value
Financials (continued)
Zions Bancorp NA		99,188	$	5,410,705
				128,491,688
Health Care (4.96%)
Allscripts Healthcare Solutions, Inc.(a)		226,431		3,582,139
Cigna Corp.		20,634		5,681,778
McKesson Corp.		24,254		8,284,681
Quest Diagnostics, Inc.		32,760		4,474,033
Universal Health Services, Inc., Class B		40,363		4,539,627
				26,562,258
Industrials (6.91%)
Boise Cascade Co.		84,708		5,989,703
Crane Holdings Co.		45,212		4,472,823
Cummins, Inc.		20,091		4,446,339
ManpowerGroup, Inc.		45,431		3,562,245
Matson, Inc.		70,590		6,470,985
Snap-on, Inc.		22,263		4,988,025
Veritiv Corp.(a)		57,060		7,076,581
				37,006,701
Information Technology (5.24%)
Arrow Electronics, Inc.(a)		42,535		5,451,711
DXC Technology Co.(a)		152,402		4,815,903
HP, Inc.		174,846		5,838,108
Juniper Networks, Inc.		181,543		5,088,650
Western Union Co.		182,448		3,105,265
Xerox Holdings Corp.		218,467		3,742,340
				28,041,977
Materials (18.76%)
Dow, Inc.		100,455		5,345,211
DuPont de Nemours, Inc.		75,658		4,632,539
Greif, Inc., Class A		80,726		5,700,870
Huntsman Corp.		170,502		4,937,738
International Paper Co.		87,785		3,754,565
Louisiana-Pacific Corp.		129,053		8,211,642
LyondellBasell Industries NV, Class A		51,585		4,597,255
Mativ, Inc.		148,415		3,242,868
Mosaic Co.		162,719		8,568,783
Nucor Corp.		72,400		9,831,920
Olin Corp.		94,482		4,938,574
Reliance Steel & Aluminum Co.		32,037		6,095,039
Resolute Forest Products, Inc.(a)		547,887		11,111,148
Ryerson Holding Corp.		243,807		6,680,312
Steel Dynamics, Inc.		110,048		8,570,538

	Shares		Value
Materials (continued)
Worthington Industries, Inc.		82,174	$	4,208,131
				100,427,133
Total Common Stocks
(Cost $557,024,176)				531,344,473

	Shares		Value
Short-Term Investment (2.75%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)		14,744,381	$	14,744,381
Total Short-Term Investment
(Cost $14,744,381)				14,744,381
Total Investments (102.02%)
(Cost $571,768,557)			$	546,088,854
Liabilities Less Other Assets (-2.02%)				(10,791,970	)
Net Assets (100.00%)			$	535,296,884
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, 2022. The total value of securities on loan at July 31, 2022 was $14,353,225.
(c)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $14,744,381.
(d)	Rate shown is the 7-day effective yield as of July 31, 2022.

Investment Abbreviations:

PLC - Public Limited Company

As of July 31, 2022, 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.

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	22.35%
Materials	20.82%
Industrials	15.63%
Energy	13.04%
Communication Services	8.58%
Consumer Discretionary	6.69%
Consumer Staples	6.53%
Information Technology	5.16%
Real Estate	1.20%
	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, 2022 (Unaudited)

	Shares		Value
Common Stocks (98.50%)
Australia (8.47%)
Challenger, Ltd.		179,645	$	876,115
CSR, Ltd.		193,858		616,291
Downer EDI, Ltd.		176,046		678,978
Fortescue Metals Group, Ltd.		72,346		927,053
GrainCorp, Ltd., Class A		143,411		853,714
Mineral Resources, Ltd.		22,448		842,880
Super Retail Group, Ltd.		95,831		661,536
Woodside Energy Group, Ltd.		32,086		716,943
				6,173,510
Belgium (1.06%)
Ageas SA		17,828		775,305
Canada (11.99%)
Canadian Natural Resources, Ltd.		24,400		1,347,331
Corus Entertainment, Inc., Class B		176,900		519,421
Great-West Lifeco, Inc.		21,361		519,116
Home Capital Group, Inc.		30,500		622,600
Imperial Oil, Ltd.		24,400		1,169,363
Interfor Corp.		24,400		602,497
Labrador Iron Ore Royalty Corp.(a)		35,636		787,551
Mullen Group, Ltd.		79,300		904,127
Stelco Holdings, Inc.		30,500		860,779
Suncor Energy, Inc.		24,400		828,100
West Fraser Timber Co., Ltd.		6,100		571,105
				8,731,990

	Shares		Value
Denmark (1.38%)
Scandinavian Tobacco Group A/S, Class A(b)		52,765	$	1,008,415
Finland (0.97%)
Sampo Oyj(c)		16,348		704,092
France (6.83%)
AXA SA		30,195		692,822
Carrefour SA		44,408		755,240
Coface SA		57,096		595,802
Metropole Television SA		35,990		473,035
Nexity SA		16,043		392,864
TotalEnergies SE		28,975		1,473,581
Vivendi SE		62,403		590,463
				4,973,807
Germany (1.76%)
DWS Group GmbH & Co. KGaA(b)		16,409		476,960
Freenet AG		34,404		808,385
				1,285,345
Great Britain (12.05%)
abrdn PLC		208,010		419,744
Anglo American PLC		14,945		536,902
Aviva PLC		117,614		567,194
Berkeley Group Holdings PLC		10,434		538,504
BP PLC		179,279		873,307
British American Tobacco PLC		22,631		887,574
Direct Line Insurance Group PLC		180,653		453,200
Legal & General Group PLC		185,326		589,053
Man Group PLC		419,436		1,390,373
Persimmon PLC		19,825		454,854
Quilter PLC(b)		295,986		378,476
Rio Tinto PLC		16,598		995,395
WPP PLC		64,172		690,680
				8,775,256
Hong Kong (9.50%)
China Resources Cement Holdings, Ltd.		884,500		543,101
Kingboard Holdings, Ltd.		152,500		445,850
Kingboard Laminates Holdings, Ltd.		475,800		435,802
Lee & Man Paper Manufacturing, Ltd.		915,000		347,355
New World Development Co., Ltd.		140,300		468,268
Orient Overseas International, Ltd.		30,500		1,060,714
Pacific Basin Shipping, Ltd.		1,403,000		668,444
PC Partner Group, Ltd.(a)		854,000		764,802

	Shares		Value
Hong Kong (continued)
Shougang Fushan Resources Group, Ltd.		4,514,000	$	1,604,359
VTech Holdings, Ltd.		85,400		582,577
				6,921,272
Italy (3.21%)
Anima Holding SpA(b)		152,561		532,949
Eni SpA		57,828		692,449
Unipol Gruppo SpA		141,032		588,817
UnipolSai Assicurazioni SpA		234,057		528,191
				2,342,406
Japan (26.52%)
Aozora Bank, Ltd.		30,500		634,702
Citizen Watch Co., Ltd.		176,900		770,745
Dai-ichi Life Holdings, Inc.		42,700		737,444
Gree, Inc.		122,000		772,164
Hakuto Co., Ltd.		36,600		703,456
Idemitsu Kosan Co., Ltd.		30,500		784,514
Inabata & Co., Ltd.		42,700		771,386
Inpex Corp.		67,100		758,806
Japan Post Insurance Co., Ltd.		42,700		687,171
Japan Tobacco, Inc.		30,500		546,072
Joyful Honda Co., Ltd.		61,000		718,185
Kamigumi Co., Ltd.		36,600		741,057
Kewpie Corp.		36,600		634,016
Marubeni Corp.		91,500		846,041
Meiwa Corp.(a)(c)		77,775		439,179
Mitsui & Co., Ltd.		36,600		802,949
Mixi, Inc.		36,600		640,603
NGK Spark Plug Co., Ltd.		36,600		712,513
Nippon Yusen KK		18,300		1,427,222
Nisshinbo Holdings, Inc.		91,500		725,276
Nitto Kogyo Corp.		42,700		828,383
Press Kogyo Co., Ltd.		231,800		709,219
Sompo Holdings, Inc.		18,300		812,418
Sumitomo Osaka Cement Co., Ltd.		24,400		641,335
Sumitomo Warehouse Co., Ltd.		48,800		765,942
Tokio Marine Holdings, Inc.		12,200		710,317
				19,321,115
Luxembourg (2.65%)
ArcelorMittal SA		30,256		739,524
ArcelorMittal SA(a)		27,572		673,216
RTL Group SA		13,176		516,035
				1,928,775
Netherlands (2.40%)
ASR Nederland NV		18,864		784,691

	Shares		Value
Netherlands (continued)
NN Group NV	20,618	$	962,593
			1,747,284
New Zealand (0.75%)
Fletcher Building, Ltd.	167,323		542,983
Norway (2.68%)
Elkem ASA(b)(c)	213,195		871,741
Telenor ASA	43,435		525,799
Yara International ASA	12,993		552,516
			1,950,056
Spain (0.99%)
Repsol SA	57,950		718,134
Sweden (3.99%)
Betsson AB(c)	146,644		1,012,288
SSAB AB	106,079		510,134
SSAB AB	167,628		764,390
Telia Co. AB	168,548		621,469
			2,908,281
Switzerland (1.30%)
Ferrexpo PLC	167,079		301,338
Glencore PLC	115,046		647,068
			948,406
Total Common Stocks
(Cost $79,683,257)			71,756,432

	Shares		Value
Short-Term Investment (1.70%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(d)(e)	1,235,578	$	1,235,578
Total Short-Term Investment
(Cost $1,235,578)			1,235,578
Total Investments (100.19%)
(Cost $80,918,835)		$	72,992,010
Liabilities Less Other Assets (-0.19%)			(139,967	)
Net Assets (100.00%)		$	72,852,043

	Shares	Value
Short-Term Investment (continued)
Percentages based on Net Assets.

(a)	This security or a partial position of this security is on loan at July 31, 2022. The total value of securities on loan at July 31, 2022 was $1,171,904.
(b)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2022, the fair value of securities restricted under Rule 144A in the aggregate was $3,268,541, representing 4.49% of net assets.
(c)	Non-income producing security.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $1,235,578.
(e)	Rate shown is the 7-day effective yield as of July 31, 2022.

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, 2022, 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.

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	28.43%
Utilities	16.55%
Materials	11.84%
Energy	9.15%
Industrials	8.57%
Other	7.48%
Consumer Staples	7.39%
Real Estate	3.89%
Communication Services	2.70%
Consumer Discretionary	1.83%
Health Care	1.18%
Information Technology	0.99%
	100.00%

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

Cambria Global Value ETF

Schedule of Investments

July 31, 2022 (Unaudited)

	Shares		Value
Common Stocks (92.90%)
Austria (0.72%)
Erste Group Bank AG		24,606	$	625,266
Brazil (9.24%)
Atacadao SA		220,800		796,299
Banco Santander Brasil SA(a)		134,400		737,445
Centrais Eletricas Brasileiras SA		115,200		1,023,955
Cia Siderurgica Nacional SA		220,800		626,882
Gerdau SA		163,200		775,295
Itau Unibanco Holding SA		192,000		878,715
JBS SA		124,800		769,915
Petroleo Brasileiro SA		134,400		889,662
Telefonica Brasil SA		86,400		745,925
Vale SA		57,600		777,040
				8,021,133
Chile (9.62%)
Banco Santander Chile		17,545,344		694,921
CAP SA		72,672		665,057
Cencosud SA		542,592		741,239
Cia Sud Americana de Vapores SA		7,629,600		825,531
Colbun SA		12,351,648		1,049,157
Empresas CMPC SA		582,720		990,061
Empresas COPEC SA		120,768		989,089
Enel Americas SA		8,217,984		831,739

	Shares		Value
Chile (continued)
Falabella SA		321,024	$	716,078
Quinenco SA		314,304		854,561
				8,357,433
Czech Republic (9.20%)
CEZ AS		62,304		2,827,537
Komercni Banka AS		66,432		1,677,078
Moneta Money Bank AS(b)		590,304		1,965,723
Philip Morris CR AS		2,208		1,521,877
				7,992,215
Great Britain (9.18%)
Anglo American PLC		19,872		713,906
Aviva PLC		121,992		588,307
Barclays PLC		466,944		893,798
BP PLC		166,944		813,220
Legal & General Group PLC		279,744		889,158
Lloyds Banking Group PLC		1,588,896		875,474
Rio Tinto PLC		12,768		765,707
Segro PLC		58,944		786,016
Shell PLC		30,528		810,090
Vodafone Group PLC		566,592		833,518
				7,969,194
Greece (–%)
FF Group(a)(c)(d)		25,407		0
Malaysia (8.66%)
CIMB Group Holdings Bhd		739,200		865,348
Hartalega Holdings Bhd		854,400		526,021
Hong Leong Bank Bhd		182,400		859,848
Malayan Banking Bhd		422,400		840,909
Petronas Chemicals Group Bhd		364,800		727,879
Public Bank Bhd		816,000		850,745
RHB Bank Bhd		624,000		824,429
Sime Darby Bhd		1,603,200		842,936
Sime Darby Plantation Bhd		710,400		695,954
Top Glove Corp. Bhd		2,256,000		489,167
				7,523,236
Poland (9.28%)
Alior Bank SA(a)		111,936		602,352
Grupa Lotos SA		57,984		987,973
Jastrzebska Spolka Weglowa SA(e)		55,488		603,409
KGHM Polska Miedz SA		27,744		690,832
Lubelski Wegiel Bogdanka SA		72,576		845,272
PGE Polska Grupa Energetyczna SA(a)		399,552		891,053
Polski Koncern Naftowy ORLEN SA		52,128		849,069

	Shares		Value
Poland (continued)
Polskie Gornictwo Naftowe i Gazownictwo SA(a)		631,296	$	941,940
Powszechny Zaklad Ubezpieczen SA		129,216		843,882
Tauron Polska Energia SA(a)		1,135,680		799,005
				8,054,787
Portugal (10.00%)
Altri SGPS SA		126,720		745,999
Banco Comercial Portugues SA		5,722,080		845,069
Energias de Portugal SA		190,464		961,440
Galp Energia SGPS SA		75,264		790,771
Greenvolt-Energias Renovaveis SA(a)		24,000		216,347
Jeronimo Martins SGPS SA		41,664		963,216
Mota-Engil SGPS SA(e)		655,200		822,323
Navigator Co. SA		211,296		869,863
NOS SGPS SA		201,696		761,490
REN - Redes Energeticas Nacionais SGPS SA		288,672		815,774
Sonae SGPS SA		788,736		894,798
				8,687,090
Russia (–%)(f)
Alrosa PJSC(c)(g)		1,262,976		0
Gazprom Neft PJSC(c)(g)		334,880		0
Gazprom PJSC(a)(c)(g)		373,048		0
Rosneft Oil Co. PJSC(c)(g)		198,016		0
Sberbank of Russia PJSC(a)(c)(g)		287,609		0
Severstal PAO(c)(g)		82,992		0
Unipro PJSC(c)(g)		22,421,984		0
				0
Singapore (9.65%)
Capitaland Investment, Ltd.		288,000		817,258
CDL Hospitality Trusts		23,850		22,790
City Developments, Ltd.		153,600		861,735
Genting Singapore, Ltd.		1,488,000		867,120
Jardine Cycle & Carriage, Ltd.		38,400		778,341
Oversea-Chinese Banking Corp., Ltd.		96,000		811,003
Sembcorp Industries, Ltd.		403,200		849,364
Singapore Airlines, Ltd.(a)		220,800		871,116
United Overseas Bank, Ltd.		38,400		765,832
UOL Group, Ltd.		163,200		881,332
Venture Corp., Ltd.		67,200		855,202
				8,381,093
Spain (9.29%)
Acciona SA		4,416		905,379
Banco Bilbao Vizcaya Argentaria SA		173,088		781,384
Banco Santander SA		297,792		742,631
CaixaBank SA		270,144		808,696

	Shares		Value
Spain (continued)
Enagas SA		39,456	$	777,482
Endesa SA		41,088		752,109
Ferrovial SA		33,696		898,165
Iberdrola SA(e)		74,976		799,239
Mapfre SA		478,848		770,812
Naturgy Energy Group SA(e)		28,512		834,003
				8,069,900
Turkey (8.06%)
Akbank TAS		1,450,272		698,565
Eregli Demir ve Celik Fabrikalari TAS		385,440		594,193
Haci Omer Sabanci Holding AS		645,504		715,886
KOC Holding AS		321,792		660,952
Petkim Petrokimya Holding AS(a)		1,356,000		679,646
Turkiye Halk Bankasi AS(a)		2,391,168		647,290
Turkiye Is Bankasi AS, Class C		2,729,971		795,381
Turkiye Sise ve Cam Fabrikalari AS		713,952		869,502
Turkiye Vakiflar Bankasi TAO, Class D(a)		2,907,072		632,801
Yapi ve Kredi Bankasi AS		2,656,320		704,240
				6,998,456
Total Common Stocks
(Cost $103,454,318)				80,679,803

	Shares		Value
Exchange Traded Funds (6.74%)
Colombia (6.74%)
Equity ETF (6.74%)
iShares® MSCI Colombia ETF		668,672		5,850,880
Total Exchange Traded Funds
(Cost $5,372,579)				5,850,880

	Shares		Value
Short-Term Investment (1.36%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(h)(i)		1,183,961	$	1,183,961
Total Short-Term Investment
(Cost $1,183,961)				1,183,961
Total Investments (101.00%)
(Cost $110,010,858)			$	87,714,644
Liabilities Less Other Assets (-1.00%)				(872,318	)
Net Assets (100.00%)			$	86,842,326
Percentages based on Net Assets.

(a)	Non-income producing security.
(b)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2022, the fair value of securities restricted under Rule 144A in the aggregate was $1,965,723, representing 2.26% of net assets.
(c)	Level 3 security in accordance with fair value hierarchy.
(d)	Fair valued security; valued by management in accordance with procedures approved by the Fund's Board of Trustees. As of July 31, 2022, these securities had an aggregate market value of $0 or 0% of total net assets.
(e)	This security or a partial position of this security is on loan at July 31, 2022. The total value of securities on loan at July 31, 2022 was $1,698,869.
(f)	Less than 0.005%.
(g)	These securities are considered to be illiquid.  The aggregate value of these securities at July 31, 2022 was $0, which represent 0.00% of the Fund's Net Assets.
(h)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $1,183,961.
(i)	Rate shown is the 7-day effective yield as of July 31, 2022.

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, 2022 are as follows:

Security Name	Value at April 30, 2022		Purchases at Cost	Proceeds from Sales			Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2022		Shares at July 31, 2022		Dividend Income
iShares MSCI Colombia ETF	$	9,137,885	$	$	(1,220,291	)	$	(2,095,417	)	$	28,703	$	5,850,880		668,672	$	328,977
	$	9,137,885	$	$	(1,220,291	)	$	(2,095,417	)	$	28,703	$	5,850,880		668,672	$	328,977

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	$	625,266		–	$	–		625,266
Brazil		8,021,133		–		–		8,021,133
Chile		8,357,433		–		–		8,357,433
Czech Republic		7,992,215		–		–		7,992,215
Great Britain		7,969,194		–		–		7,969,194
Malaysia		7,523,236		–		–		7,523,236
Poland		8,054,787		–		–		8,054,787
Portugal		8,687,090		–		–		8,687,090
Singapore		8,381,093		–		–		8,381,093
Spain		8,069,900		–		–		8,069,900
Turkey		6,998,456		–		–		6,998,456
Exchange Traded Funds
Colombia		5,850,880		–		–		5,850,880
Short-Term Investment		1,183,961		–		–		1,183,961
Total	$	87,714,644	$	–	$	–	$	87,714,644

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

⁽¹⁾ The Fund considers transfers to Level 3 at the ending of the reporting period, which is $0 at the end of the reporting period. Change in unrealized appreciation/depreciation on Level 3 holding as of July 31, 2022 was $(9,440,193).

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, 2022 (Unaudited)

	Shares		Value
Exchange Traded Funds (99.47%)
Global (15.59%)
Alternative ETF (6.16%)
iMGP DBi Managed Futures Strategy ETF		209,664	$	6,549,903
Commodity ETF (9.43%)
iShares® Global Energy ETF(a)		276,336		10,017,180
North America (14.81%)
Equity ETF (6.37%)
Cambria Tail Risk ETF*		403,560		6,763,666
Fixed Income ETF (8.44%)
iShares® 1-3 Year Treasury Bond ETF(a)		108,000		8,969,400
United States (69.07%)
Commodity ETF (17.45%)
Invesco DB Energy Fund(b)		239,582		6,126,112
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF(a)		704,232		12,408,568
				18,534,680
Equity ETF (13.32%)
Cambria Value and Momentum ETF*		545,130		14,151,575
Fixed Income ETF (38.30%)
iShares® 7-10 Year Treasury Bond ETF(a)		86,688		9,116,977
iShares® Short Treasury Bond ETF		202,968		22,350,836
Schwab US TIPS Bond ETF		159,408		9,226,535
				40,694,348

	Shares	Value
Fixed Income ETF (continued)
Total Exchange Traded Funds
(Cost $105,014,114)		$	105,680,752

	Shares		Value
Short-Term Investment (16.65%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)		17,692,958	$	17,692,958
Total Short-Term Investment
(Cost $17,692,958)				17,692,958
Total Investments (116.13%)
(Cost $122,707,072)			$	123,373,710
Liabilities Less Other Assets (-16.13%)				(17,132,621	)
Net Assets (100.00%)			$	106,241,089
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, 2022. The total value of securities on loan at July 31, 2022 was $17,325,293.
(b)	Non-income producing security.
(c)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $17,692,958.
(d)	Rate shown is the 7-day effective yield as of July 31, 2022.

Investment Abbreviations:

ETF - Exchange Traded Fund

FTSE - Financial Times Stock Exchange

Transactions with affiliated companies for the three months ended July 31, 2022 are as follows:

Security Name	Value at April 30, 2022		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)			Value at July 31, 2022		Shares at July 31, 2022		Dividend Income
Cambria Foreign Shareholder Yield ETF		4,642,086		7,287,069		(11,231,651	)		(258,827	)		(438,677	)		-		-
Cambria Global Real Estate ETF		4,975,645		-		(4,890,438	)		463,685			(548,892	)		-		-
Cambria Tail Risk ETF		-		7,226,583		(98,256	)		(363,764	)		(897	)		6,763,666		403,560
Cambria Shareholder Yield ETF		6,221,839		7,305,868		(12,817,592	)		(1,620,523	)		910,408			-		-
Cambria Value and Momentum ETF		10,421,504		4,844,529		(802,980	)		(424,445	)		112,967			14,151,575		545,130		36,913
	$	26,261,074	$	26,664,049	$	(29,840,917	)	$	(2,203,874	)	$	34,909		$	20,915,241		948,690	$	36,913

As of July 31, 2022, 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.

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, 2022 (Unaudited)

	Shares		Value
Exchange Traded Funds (98.46%)
Global (13.91%)
Equity ETF (13.91%)
Alpha Architect Value Momentum Trend ETF		38,148	$	919,908
Cambria Global Real Estate ETF*		108,900		3,116,653
Cambria Global Value ETF*		127,974		2,312,682
				6,349,243
International (34.71%)
Equity ETF (14.92%)
Alpha Architect International Quantitative Momentum ETF(a)		34,320		905,990
Cambria Emerging Shareholder Yield ETF*(a)		144,276		3,912,765
Cambria Foreign Shareholder Yield ETF*		82,863		1,989,126
				6,807,881
Fixed Income ETF (19.79%)
SPDR® FTSE International Government Inflation-Protected Bond ETF		28,413		1,298,758
VanEck Emerging Markets High Yield Bond ETF		97,812		1,738,119
VanEck International High Yield Bond ETF		45,474		897,657
VanEck J. P. Morgan EM Local Currency Bond ETF(a)		112,134		2,729,342
Vanguard® Total International Bond ETF		46,398		2,370,474
				9,034,350
North America (0.79%)
Commodity ETF (0.79%)
VanEck Gold Miners ETF/USA		13,662		358,901

	Shares		Value
United States (49.05%)
Commodity ETF (9.79%)
Graniteshares Gold Trust(b)		76,131	$	1,329,247
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF(a)		178,134		3,138,721
				4,467,968
Equity ETF (15.78%)
Alpha Architect US Quantitative Momentum ETF(a)		40,425		1,881,582
Cambria Shareholder Yield ETF*(a)		58,245		3,441,114
Cambria Value and Momentum ETF*		72,435		1,880,413
				7,203,109
Fixed Income ETF (23.48%)
Schwab US TIPS Bond ETF		23,991		1,388,599
Vanguard® Intermediate-Term Corporate Bond ETF(a)		17,325		1,437,282
Vanguard® Intermediate-Term Government Bond ETF		30,789		1,916,615
Vanguard® Long-Term Treasury Bond ETF(a)		25,773		1,851,790
Vanguard® Short-Term Corporate Bond ETF(a)		12,309		952,594
Vanguard® Total Bond Market ETF		41,250		3,172,125
				10,719,005
Total Exchange Traded Funds
(Cost $46,165,834)				44,940,457

	Shares		Value
Short-Term Investment (13.21%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)		6,031,558	$	6,031,558
Total Short-Term Investment
(Cost $6,031,558)				6,031,558
Total Investments (111.67%)
(Cost $52,197,392)			$	50,972,015
Liabilities Less Other Assets (-11.67%)				(5,326,543	)
Net Assets (100.00%)			$	45,645,472

	Shares	Value
Short-Term Investment (continued)
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, 2022. The total value of securities on loan at July 31, 2022 was $5,889,857.
(b)	Non-income producing security.
(c)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $6,031,558.
(d)	Rate shown is the 7-day effective yield as of July 31, 2022.

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, 2022 are as follows:

Security Name	Value at April 30, 2022		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2022		Share at July 31, 2022		Dividend Income
Cambria Emerging Shareholder Yield ETF	$	4,171,210	$	118,568	$	-		$	(377,013	)	$	-	$	3,912,765		144,276	$	95,627
Cambria Foreign Shareholder Yield ETF		2,086,741		59,648		-			(157 263)			-		1,989,126		82,863		47,193
Cambria Global Real Estate ETF		3,468,032		93,971		(330,319	)		(174,442	)		59,411		3,116,653		108,900		11,730
Cambria Global Value ETF		2,521,469		69,426		-			(278,213	)		-		2,312,682		127,974		72,517
Cambria Shareholder Yield ETF		3,437,373		102,901		-			(99,160	)		-		3,441,114		58,245		17,259
Cambria Value and Momentum ETF		1,859,253		56,851		-			(35,691	)		-		1,880,413		72,435		5,189
	$	17,544,078	$	501,365	$	(330,319	)	$	(1,121,782	)	$	59,411	$	16,652,753		594,693	$	249,515

As of July 31, 2022, 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.

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
Energy	26.27%
Materials	22.26%
Financials	19.04%
Industrials	10.69%
Consumer Staples	5.89%
Consumer Discretionary	5.78%
Information Technology	4.24%
Health Care	3.17%
Utilities	1.90%
Real Estate	0.76%
	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, 2022 (Unaudited) 

	Shares		Value
Common Stocks (80.96%)
Consumer Discretionary (4.68%)
AutoNation, Inc.(a)		3,404	$	404,191
Dillard's, Inc., Class A(b)		1,776		403,774
Group 1 Automotive, Inc.		2,109		373,124
Macy's, Inc.		15,059		265,791
Movado Group, Inc.		10,582		359,576
Penske Automotive Group, Inc.		3,848		440,558
				2,247,014
Consumer Staples (4.77%)
Andersons, Inc.		7,511		271,673
Ingles Markets, Inc., Class A		3,811		363,798
SpartanNash Co.		10,249		330,940
Tyson Foods, Inc., Class A		4,144		364,714
United Natural Foods, Inc.(a)		14,693		624,599
Universal Corp.		5,994		335,125
				2,290,849
Energy (21.27%)
Antero Resources Corp.(a)		14,619		579,497
APA Corp.		8,658		321,818
Arch Resources, Inc., Class A(b)		2,368		305,803
California Resources Corp.		8,991		403,336
Centennial Resource Development, Inc., Class A(a)		71,891		478,794
Chesapeake Energy Corp.		4,329		407,662
Chevron Corp.		2,146		351,472

	Shares		Value
Energy (continued)
Chord Energy Corp.		7,272	$	932,561
Civitas Resources, Inc.		6,512		383,947
ConocoPhillips		3,441		335,257
CONSOL Energy, Inc.(a)		7,030		431,080
Continental Resources, Inc.		6,179		425,671
Earthstone Energy, Inc., Class A(a)(b)		28,453		403,748
EOG Resources, Inc.		4,440		493,817
Exxon Mobil Corp.		4,292		416,024
Marathon Oil Corp.		19,462		482,658
Matador Resources Co.		12,432		718,321
Ovintiv, Inc.		8,584		438,557
Patterson-UTI Energy, Inc.		21,756		360,062
PDC Energy, Inc.		7,548		495,828
Peabody Energy Corp.(a)(c)		14,652		307,545
Plains GP Holdings LP, Class A		30,673		343,231
SandRidge Energy, Inc.(a)		21,571		404,025
				10,220,714
Financials (15.42%)
Alleghany Corp.		407		340,854
American Equity Investment Life Holding Co.		9,028		339,092
American Financial Group, Inc.		2,738		366,016
American International Group, Inc.		5,735		296,901
Berkshire Hills Bancorp, Inc.		12,506		352,294
Comerica, Inc.		3,774		293,504
Encore Capital Group, Inc.(a)		6,660		482,384
First Horizon Corp.		15,429		344,992
Hanmi Financial Corp.		16,465		416,070
Hope Bancorp, Inc.		21,719		326,654
Jefferies Financial Group, Inc.		9,472		308,503
Loews Corp.		6,068		353,461
MetLife, Inc.		5,735		362,739
Metropolitan Bank Holding Corp.(a)		4,181		290,078
Mr Cooper Group, Inc.(a)		9,731		438,381
Old Republic International Corp.		13,505		314,261
Principal Financial Group, Inc.		5,402		361,610
Regions Financial Corp.		16,761		354,998
Travelers Cos., Inc.		2,183		346,442
Unum Group		10,804		347,781
Voya Financial, Inc.		6,142		369,503
				7,406,518
Health Care (2.56%)
Cigna Corp.		1,332		366,780
McKesson Corp.		1,147		391,792
SIGA Technologies, Inc.(b)		27,565		473,842
				1,232,414

	Shares		Value
Industrials (8.65%)
ArcBest Corp.		6,697	$	593,354
Atkore, Inc.(a)		3,700		367,299
BlueLinx Holdings, Inc.(a)		4,736		378,880
Boise Cascade Co.		7,696		544,184
Builders FirstSource, Inc.(a)		4,625		314,500
Encore Wire Corp.		3,034		420,118
Insteel Industries, Inc.		10,434		326,584
Matson, Inc.		2,960		271,343
Mueller Industries, Inc.		6,956		468,348
Veritiv Corp.(a)		3,811		472,640
				4,157,250
Information Technology (3.43%)
Avnet, Inc.		8,399		402,060
HP, Inc.		11,063		369,394
Photronics, Inc.(a)		20,276		482,772
Sanmina Corp.(a)		8,584		395,293
				1,649,519
Materials (18.02%)
AdvanSix, Inc.		11,766		462,286
Alcoa Corp.		6,549		333,279
Alpha Metallurgical Resources, Inc.		3,515		480,711
CF Industries Holdings, Inc.		4,292		409,843
Commercial Metals Co.		10,212		404,599
Dow, Inc.		6,808		362,254
Huntsman Corp.		9,028		261,451
Intrepid Potash, Inc.(a)		5,042		229,915
Louisiana-Pacific Corp.		6,179		393,170
Mosaic Co.		5,254		276,676
Nucor Corp.		3,589		487,386
Olin Corp.		7,622		398,402
Ramaco Resources, Inc.		26,270		308,410
Reliance Steel & Aluminum Co.		1,813		344,923
Resolute Forest Products, Inc.(a)		35,298		715,843
Ryerson Holding Corp.		9,435		258,519
Steel Dynamics, Inc.		5,883		458,168
SunCoke Energy, Inc.		52,762		390,439
TimkenSteel Corp.(a)		32,042		650,132
United States Steel Corp.		15,873		375,397
Warrior Met Coal, Inc.		9,139		291,808
Westlake Corp.		3,737		363,760
				8,657,371
Real Estate (0.62%)
Marcus & Millichap, Inc.		7,252		296,752
Utilities (1.54%)
NRG Energy, Inc.		9,287		350,584

	Shares		Value
Utilities (continued)
Vistra Corp.		15,059	$	389,275
				739,859
Total Common Stocks
(Cost $36,278,510)				38,898,260

	Shares		Value
Short-Term Investment (2.33%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(d)(e)		1,118,047	$	1,118,047
Total Short-Term Investment
(Cost $1,118,047)				1,118,047
Total Investments (83.29%)
(Cost $37,396,557)			$	40,016,307
Other Assets Less Liabilities (16.71%)				8,027,257
Net Assets (100.00%)			$	48,043,564
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, 2022. The total value of securities on loan at July 31, 2022 was $1,091,076.
(c)	Security, or portion of security, is being held as collateral for securities sold short.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $1,118,047.
(e)	Rate shown is the 7-day effective yield as of July 31, 2022.

The open futures contracts held by the Fund as of July 31, 2022 are as follows:

Type of Contract	Number of Contracts Short	Expiration Date	Notional Amount	Notional Value	Unrealized Appreciation
S&P® 500 Mini Future	190	Sep-2022	$(35,007,154)	$(39,268,250)	$(4,261,096)

For the period ended July 31, 2022, the monthly average notional value of the short equity futures contracts held was $34,557,708 and the ending notional value of the futures contacts was $35,007,154.

As of July 31, 2022, 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.

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	75.54%
Purchased Options	13.25%
Sovereign Debt	11.21%
	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, 2022 (Unaudited)    

	Shares		Value
Exchange Traded Funds (52.03%)
International (19.11%)
Fixed Income ETF (19.11%)
VanEck J. P. Morgan EM Local Currency Bond ETF(a)		19,928	$	485,047
Vanguard® Total International Bond ETF		10,908		557,290
				1,042,337
United States (32.92%)
Fixed Income ETF (32.92%)
iShares® 7-10 Year Treasury Bond ETF(a)		8,436		887,214
iShares® TIPS Bond ETF		7,688		908,952
				1,796,166
Total Exchange Traded Funds
(Cost $3,042,566)				2,838,503

	Currency		Face Amount		Value
Sovereign Debt (7.72%)
Colombian TES, 7.500%, 8/26/2026		COP		812,500,000		165,468
Turkey Government Bond, 8.500%, 9/14/2022		TRY		4,641,000		255,797
						421,265
Total Sovereign Debt
(Cost $1,263,262)						421,265

	Contracts	Notional Amount		Value
Purchased Options (9.13%)
Put Options
MSCI EAFE Index-MXEA US 03/17/23 P1800
Expires 03/17/23, Strike Price $1,800	5	$	968,630	$	37,250
MSCI EAFE Index-MXEA US 06/16/23 P1700
Expires 06/16/23, Strike Price $1,700	10		1,937,260		71,450
MSCI EAFE Index-MXEA US 09/16/22 P2200
Expires 09/16/22, Strike Price $2,200	2		387,452		50,220
MSCI EAFE Index-MXEA US 12/16/22 P1750
Expires 12/16/22, Strike Price $1,750	15		2,905,890		59,250
MSCI EAFE Index-MXEA US 12/16/22 P1900
Expires 12/16/22, Strike Price $1,900	2		387,452		15,240
MSCI Emerging Markets Index-MXEF US 03/17/23 P1000
Expires 03/16/23, Strike Price $1,000	7		695,647		48,160
MSCI Emerging Markets Index-MXEF US 03/17/23 P950
Expires 03/16/23, Strike Price $950	5		496,891		25,000
MSCI Emerging Markets Index-MXEF US 06/16/23 P950
Expires 06/15/23, Strike Price $950	10		993,782		64,550
MSCI Emerging Markets Index-MXEF US 09/16/22 P1150
Expires 09/15/22, Strike Price $1,150	3		298,134		46,515
MSCI Emerging Markets Index-MXEF US 12/16/22 P1200
Expires 12/15/22, Strike Price $1,200	4		397,513		80,120
Total Purchased Options
(Cost $572,207)					497,755

	Shares		Value
Short-Term Investment (19.20%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(b)(c)		1,047,217	$	1,047,217
Total Short-Term Investment
(Cost $1,047,217)				1,047,217
Total Investments (88.08%)
(Cost $5,925,252)			$	4,804,740
Other Assets Less Liabilities (11.92%)				650,353
Net Assets (100.00%)			$	5,455,093
Percentages based on Net Assets.

(a)	This security or a partial position of this security is on loan at July 31, 2022. The total value of securities on loan at July 31, 2022 was $1,025,237.
(b)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $1,047,217.
(c)	Rate shown is the 7-day effective yield as of July 31, 2022.

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	$	2,838,503	$	–	$	–	$	2,838,503
Sovereign Debt		–		421,265		–		421,265
Short-Term Investment		1,047,217		–		–		1,047,217
Total	$	3,885,720	$	421,265	$	–	$	4,306,985
Other Financial Instruments
Purchased Options	$	497,755	$	–	$	–	$	497,755
Total	$	497,755	$	–	$	–	$	497,755

As of July 31, 2022, 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.

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	26.62%
Energy	18.47%
Information Technology	17.25%
Industrials	12.38%
Consumer Discretionary	10.83%
Financials	9.74%
Utilities	1.88%
Real Estate	1.55%
Health Care	0.74%
Other	0.54%
	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, 2022 (Unaudited)    

	Shares		Value
Common Stocks (95.11%)
Brazil (2.20%)
Enauta Participacoes SA		266,500	$	959,567
Petroleo Brasileiro SA		136,500		978,222
				1,937,789
China (24.92%)
Anhui Conch Cement Co., Ltd., Class H		130,000		514,210
Bank of Communications Co., Ltd., Class H		1,300,000		773,386
China Coal Energy Co., Ltd., Class H		1,105,000		858,673
China Hongqiao Group, Ltd.		910,000		945,948
China Lilang, Ltd.		1,300,000		611,091
China Medical System Holdings, Ltd.		390,000		621,027
China Petroleum & Chemical Corp., ADR		12,731		597,466
China Sanjiang Fine Chemicals Co., Ltd.(a)		2,470,000		456,248
China Shenhua Energy Co., Ltd., Class H		455,000		1,283,870
E-Commodities Holdings, Ltd.		3,120,000		711,449
Fufeng Group, Ltd.		1,820,000		1,054,918
Greatview Aseptic Packaging Co., Ltd.		1,820,000		343,138
Greenland Hong Kong Holdings, Ltd.		2,795,000		324,010
Greentown Management Holdings Co., Ltd.(b)		2,275,000		1,886,680

	Shares		Value
China (continued)
Huadian Power International Corp., Ltd., Class H(a)		2,852,000	$	988,221
JNBY Design, Ltd.		617,500		575,030
Lonking Holdings, Ltd.		2,795,000		555,447
PetroChina Co., Ltd., Class H		1,860,000		864,852
Qingdao Port International Co., Ltd., Class H(b)		1,300,000		616,059
Shenzhen Expressway Corp., Ltd., Class H		910,000		839,297
Sinopec Shanghai Petrochemical Co., Ltd., ADR		22,305		365,579
Sinotruk Hong Kong, Ltd.		487,500		574,450
Tianneng Power International, Ltd.(a)		390,000		457,573
Xinte Energy Co., Ltd., Class H		416,000		1,104,931
Yankuang Energy Group Co., Ltd., Class H(a)		1,040,000		3,245,901
Zhejiang Expressway Co., Ltd., Class H		910,000		732,646
				21,902,100
Colombia (0.51%)
Banco De Bogota Sa		46,485		449,996
India (15.38%)
Coal India, Ltd.		390,715		1,041,348
Cosmo First, Ltd.		85,605		964,958
GHCL, Ltd.		188,760		1,533,919
Gujarat Narmada Valley Fertilizers & Chemicals, Ltd.		191,100		1,740,270
HSIL, Ltd.		459,160		1,643,183
Oil & Natural Gas Corp., Ltd.		572,910		969,652
Oil India, Ltd.		311,480		746,660
Polyplex Corp., Ltd.		79,105		2,327,852
Redington India, Ltd.		779,090		1,225,234
Vedanta, Ltd.		413,725		1,327,386
				13,520,462
Indonesia (2.35%)
Indo Tambangraya Megah Tbk PT		403,000		1,075,935
United Tractors Tbk PT		455,000		990,831
				2,066,766
Mexico (2.17%)
Banco del Bajio SA(b)		377,000		884,546
Grupo Financiero Inbursa SAB de CV(c)		552,500		1,020,955
				1,905,501

	Shares		Value
Russia (–%)(d)
Alrosa PJSC(e)(f)		538,800	$	0
Beluga Group PJSC(e)(f)		20,340		0
Federal Grid Co. Unified Energy System PJSC(c)(e)(f)		328,200,000		5
Gazprom Neft PJSC(e)(f)		223,200		0
Gazprom PJSC(c)(e)(f)		423,000		0
Inter RAO UES PJSC(e)(f)		11,040,000		0
LUKOIL PJSC(e)(f)		17,160		0
Magnitogorsk Iron & Steel Works PJSC(e)(f)		1,560,000		0
Novolipetsk Steel PJSC(e)(f)		458,400		0
OGK-2 PJSC(e)(f)		94,200,000		2
Sberbank of Russia PJSC(c)(e)(f)		276,600		0
Severstal PAO(e)(f)		85,200		0
Unipro PJSC(e)(f)		21,240,000		0
				7
South Africa (15.57%)
AECI, Ltd.		179,335		981,919
African Rainbow Minerals, Ltd.		164,580		2,315,310
Exxaro Resources, Ltd.		64,285		780,896
Investec PLC		212,680		1,132,502
Investec, Ltd.		209,040		1,116,012
Kumba Iron Ore, Ltd.		32,110		951,611
Motus Holdings, Ltd.		206,245		1,388,617
Nedbank Group, Ltd.		60,450		788,905
Ninety One, Ltd.		57,989		141,658
Reunert, Ltd.		373,025		920,443
Sibanye Stillwater, Ltd.		240,760		586,979
Thungela Resources, Ltd.		60,060		1,051,122
Truworths International, Ltd.		496,025		1,527,769
				13,683,743
South Korea (2.48%)
LX Semicon Co., Ltd.		7,995		612,349
Motonic Corp.		94,705		626,944
SSANGYONG C&E Co., Ltd.		182,391		936,455
				2,175,748
Taiwan (19.39%)
Advanced Power Electronics Corp.		260,000		963,896
Asustek Computer, Inc.		65,000		611,119
Catcher Technology Co., Ltd.		130,000		740,289
Chicony Electronics Co., Ltd.		325,000		859,691
Dimerco Express Corp.		520,000		1,293,878
Generalplus Technology, Inc.		455,000		928,509
Holy Stone Enterprise Co., Ltd.		325,000		992,118
Huaku Development Co., Ltd.		325,000		972,579
ITE Technology, Inc.		390,000		887,045
Nantex Industry Co., Ltd.		455,000		650,412

	Shares		Value
Taiwan (continued)
Nishoku Technology, Inc.		325,000	$	795,648
O-TA Precision Industry Co., Ltd.		195,000		748,973
Radiant Opto-Electronics Corp.		260,000		810,193
Sea Sonic Electronics Co., Ltd.		390,000		704,686
Systex Corp.		325,000		797,819
TA-I Technology Co., Ltd.		455,000		664,089
Topco Scientific Co., Ltd.		260,000		1,337,297
Transcend Information, Inc.		325,000		692,529
Tripod Technology Corp.		260,000		890,084
Utechzone Co., Ltd.		260,000		705,988
				17,046,842
Thailand (0.82%)
Tisco Financial Group PLC		299,000		718,867
Turkey (9.32%)
Aksa Akrilik Kimya Sanayii AS		481,650		1,580,723
Dogus Otomotiv Servis ve Ticaret AS		323,700		1,529,384
Enerjisa Enerji AS(b)		689,585		581,181
Enka Insaat ve Sanayi AS		984,888		1,029,057
Eregli Demir ve Celik Fabrikalari TAS		673,595		1,038,411
Is Yatirim Menkul Degerler AS		1,328,665		1,557,333
Iskenderun Demir ve Celik AS		685,880		872,065
				8,188,154
Total Common Stocks
(Cost $104,237,641)				83,595,975

	Shares		Value
Short-Term Investment (3.61%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(g)(h)		3,169,245	$	3,169,245
Total Short-Term Investment
(Cost $3,169,245)				3,169,245
Total Investments (98.72%)
(Cost $107,406,886)			$	86,765,220
Other Assets Less Liabilities (1.28%)				1,128,820
Net Assets (100.00%)			$	87,894,040
Percentages based on Net Assets.

	Shares	Value
Short-Term Investment (continued)

(a)	This security or a partial position of this security is on loan at July 31, 2022. The total value of securities on loan at July 31, 2022 was $2,916,683.
(b)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2022, the fair value of securities restricted under Rule 144A in the aggregate was $3,968,466, representing 4.52% of net assets.
(c)	Non-income producing security.
(d)	Less than 0.005%.
(e)	Level 3 security in accordance with fair value hierarchy.
(f)	These securities are considered to be illiquid.  The aggregate value of these securities at July 31, 2022 was $7, which represent 0.00% of the Fund's Net Assets.
(g)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $3,169,245.
(h)	Rate shown is the 7-day effective yield as of July 31, 2022.

Cambria Emerging Shareholder Yield ETF

Investments in Securities at Value	Level 1 - Quoted and Unadjusted Prices		Level 2 - Other Significant Observable Inputs(1)		Level 3 - Significant Unobservable Inputs(2)		Total
Common Stocks	$	83,595,968	$	–	$	7	$	83,595,975
Short-Term Investment		3,169,245		–		–		3,169,245
Total	$	86,765,213	$	–	$	7	$	86,765,220

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

(1)	Included in Level 2 is one Rights holdings with total value of $0.
(2)	The Fund considers transfers to Level 3 at the ending of the reporting period, which was $7 at the end of the reporting period. Change in unrealized appreciation/depreciation on Level 3 holding as of July 31, 2022 was $(16,479,533).

Sector Weightings
Cambria Tail Risk ETF
U.S. Treasury Obligations	91.61%
Purchased Options	8.39%
	100.00%

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

Cambria Tail Risk ETF  

Schedule of Investments    

July 31, 2022 (Unaudited)    

	Face Amount		Value
U.S. Treasury Obligations (85.59%)
U.S. Treasury Bond 0.625%, 5/15/2030	$	452,400,000	$	387,650,250
United States Treasury Inflation Indexed Bonds 0.125%, 7/15/2030		28,422,622		28,552,257
				416,202,507
Total U.S. Treasury Obligations
(Cost $443,314,521)				416,202,507

	Contracts	Notional Amount		Value
Purchased Options (7.84%)
Put Options
S&P 500® Index
Expires 09/16/22, Strike Price $4,100	199	$	82,192,771	$	2,024,825
Expires 12/16/22, Strike Price $3,600	1,053		434,919,537		7,528,950
Expires 03/17/23, Strike Price $3,600	778		321,336,562		9,176,510
Expires 06/16/23, Strike Price $3,800	191		78,888,539		3,924,095
Expires 06/16/23, Strike Price $4,000	145		59,889,205		3,825,825
Expires 06/16/23, Strike Price $4,100	163		67,323,727		4,863,920

	Contracts	Notional Amount		Value
Purchased Options (continued)
Expires 09/15/23, Strike Price $3,500	399	$	164,798,571	$	6,769,035
Total Purchased Options
(Cost $60,196,051)					38,113,160
Total Investments (93.43%)
(Cost $503,510,572)				$	454,315,667
Other Assets Less Liabilities (6.57%)					31,958,815
Net Assets (100.00%)				$	486,274,482
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	$	–	$	416,202,507	$	–	$	416,202,507
Total	$	–	$	416,202,507	$	–	$	416,202,507
Other Financial Instruments
Purchased Options	$	38,113,160	$	–	$	–	$	38,113,160
Total	$	38,113,160	$	–	$	–	$	38,113,160

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, 2022 (Unaudited)    

	Shares		Value
Exchange Traded Funds (97.59%)
Global (16.23%)
Alternative ETF (3.35%)
iMGP DBi Managed Futures Strategy ETF		59,481	$	1,858,187
Commodity ETF (3.43%)
iShares® Global Energy ETF		52,589		1,906,351
Equity ETF (9.45%)
Alpha Architect Value Momentum Trend ETF		42,185		1,017,258
Cambria Global Real Estate ETF*		77,400		2,215,142
Cambria Global Value ETF*		111,252		2,010,490
				5,242,890
International (11.83%)
Equity ETF (7.21%)
Cambria Emerging Shareholder Yield ETF*		67,983		1,843,699
Cambria Foreign Shareholder Yield ETF*		89,848		2,156,801
				4,000,500
Fixed Income ETF (4.62%)
SPDR® FTSE International Government Inflation-Protected Bond ETF		20,296		927,730
VanEck J. P. Morgan EM Local Currency Bond ETF		67,252		1,636,914
				2,564,644
North America (6.79%)
Equity ETF (2.58%)
Cambria Tail Risk ETF*		85,355		1,430,550

	Shares		Value
Fixed Income ETF (4.21%)
iShares® 1-3 Year Treasury Bond ETF(a)		28,122	$	2,335,532
United States (62.74%)
Alternative ETF (2.91%)
First Trust Managed Futures Strategy Fund		32,714		1,613,127
Commodity ETF (12.38%)
Graniteshares Gold Trust(b)		58,682		1,024,588
Invesco DB Energy Fund(b)		82,947		2,120,955
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF(a)		211,323		3,723,511
				6,869,054
Equity ETF (17.28%)
Cambria Shareholder Yield ETF*		38,334		2,264,773
Cambria Value and Momentum ETF*		282,099		7,323,290
				9,588,063
Fixed Income ETF (30.17%)
iShares® 7-10 Year Treasury Bond ETF		22,575		2,374,213
iShares® Short Treasury Bond ETF		38,485		4,237,968
Schwab US TIPS Bond ETF		58,096		3,362,596
Vanguard® Intermediate-Term Government Bond ETF(a)		67,338		4,191,791
Vanguard® Total Bond Market ETF		33,515		2,577,303
				16,743,871
Total Exchange Traded Funds
(Cost $54,864,456)				54,152,769

	Shares		Value
Short-Term Investment (11.34%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)		6,294,500	$	6,294,500
Total Short-Term Investment
(Cost $6,294,500)				6,294,500
Total Investments (108.93%)
(Cost $61,158,956)			$	60,447,269
Liabilities Less Other Assets (-8.93%)				(4,954,633	)
Net Assets (100.00%)			$	55,492,636
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, 2022. The total value of securities on loan at July 31, 2022 was $6,165,918.
(b)	Non-income producing security.
(c)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $6,294,500.
(d)	Rate shown is the 7-day effective yield as of July 31, 2022.

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, 2022 are as follows:

Security Name	Value at April 30, 2022		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation/ (Depreciation)			Realized Gain/(Loss)		Value at July 31, 2022		Shares at July 31, 2022		Dividend Income
Cambria Emerging Shareholder Yield ETF	$	1,791,214	$	228,054	$	-		$	(175,569	)	$	-	$	1,843,699		67,983	$	46,468
Cambria Foreign Shareholder Yield ETF		3,557,864		1,459,149		(2,583,621	)		(393,672	)		117,081		2,156,801		89,848		52,770
Cambria Global Real Estate ETF		2,684,615		246,458		(635,900	)		(124,914	)		44,883		2,215,142		77,400		8,598
Cambria Global Value ETF		1,997,674		255,463		-			(242,647	)		-		2,010,490		111,252		65,011
Cambria Shareholder Yield ETF		4,148,948		1,457,683		(3,200,471	)		(1,129,551	)		988,164		2,264,773		38,334		11,714
Cambria Tail Risk   ETF		-		1,509,930		-			(79,380	)		-		1,430,550		85,355		-
Cambria Value and Momentum ETF		6,598,945		896,891		-			(172,546	)		-		7,323,290		282,099		20,839
	$	20,779,260	$	6,053,628	$	(6,419,992	)	$	(2,318,279	)	$	1,150,128	$	19,244,745		752,271	$	205,400

As of July 31, 2022, 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.

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

Sector Weightings
Cambria Cannabis ETF
Consumer Staples	50.96%
Health Care	26.56%
Materials	9.54%
Real Estate	5.27%
Industrials	3.53%
Consumer Discretionary	2.41%
Information Technology	1.73%
	100.00%

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

Cambria Cannabis ETF  

Schedule of Investments    

July 31, 2022 (Unaudited)    

	Shares		Value
Common Stocks (89.65%)
Consumer Discretionary (2.16%)
Greenlane Holdings, Inc., Class A(a)(b)		656,400	$	101,086
GrowGeneration Corp.(a)(b)		53,400		258,990
				360,076
Consumer Staples (45.68%)
Altria Group, Inc.		20,000		877,200
British American Tobacco PLC		20,000		784,388
Constellation Brands, Inc., Class A		8,040		1,980,333
Imperial Brands PLC		44,240		969,223
Neptune Wellness Solutions, Inc.(b)		21,794		24,845
NewAge, Inc.(a)		637,680		170,388
Philip Morris International, Inc.		8,880		862,692
Turning Point Brands, Inc.		28,080		673,920
Universal Corp.		15,040		840,886
Village Farms International, Inc.(a)(b)		140,320		420,960
				7,604,835
Health Care (23.81%)
Aurora Cannabis, Inc.(a)(b)		109,800		154,818
Canopy Growth Corp.(a)		70,400		185,152
cbdMD, Inc.(a)		232,040		111,402
Charlottes Web Holdings, Inc.(a)(b)		413,400		297,004
Cronos Group, Inc.(a)(b)		130,120		409,878
HEXO Corp.(a)		113,659		21,209
Intercure, Ltd.(a)(b)		66,280		389,063
Jazz Pharmaceuticals PLC(a)		7,480		1,167,329
MediPharm Labs Corp.(a)		616,080		40,894
Organigram Holdings, Inc.(a)		329,200		354,766
Tilray Brands, Inc.(a)(b)		178,440		651,306

	Shares		Value
Health Care (continued)
Valens Co., Inc.(a)(b)		232,280	$	181,391
				3,964,212
Industrials (3.16%)
Agrify Corp.(a)(b)		91,960		144,377
Hydrofarm Holdings Group, Inc.(a)		30,360		98,063
Urban-Gro, Inc.(a)(b)		43,120		283,729
				526,169
Information Technology (1.56%)
WM Technology, Inc.(a)(b)		76,160		258,944
Materials (8.55%)
Scotts Miracle-Gro Co.		16,000		1,423,200
Real Estate (4.73%)
Innovative Industrial Properties, Inc.		8,160		786,706
Total Common Stocks
(Cost $33,919,122)				14,924,142

	Shares		Value
Short-Term Investment (20.57%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(c)(d)(e)		3,424,709	$	3,424,709
Total Short-Term Investment
(Cost $3,424,709)				3,424,709
Total Investments (110.22%)
(Cost $37,343,831)			$	18,348,851
Liabilities Less Other Assets (-10.22%)				(1,701,741	)
Net Assets (100.00%)			$	16,647,110
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, 2022. The total value of securities on loan at July 31, 2022 was $2,358,086.

(c)	To obtain a copy of the fund's shareholder report, please go to the Securities and Exchange Commission's website at www.sec.gov.
(d)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $3,424,709.
(e)	Rate shown is the 7-day effective yield as of July 31, 2022.

Investment Abbreviations:

ADR - American Depository Receipt

PLC - Public Limited Company

As of July 31, 2022, 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.

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, 2022 (Unaudited)    

	Shares		Value
Common Stocks (95.96%)(a)
Australia (6.37%)
Arena REIT		73,866	$	248,245
Charter Hall Retail REIT		81,289		237,410
Growthpoint Properties Australia, Ltd.		86,957		228,446
Home Consortium, Ltd.		65,455		244,673
Hotel Property Investments		95,186		224,792
				1,183,566
Canada (10.33%)
Artis Real Estate Investment Trust		28,600		260,416
Boardwalk Real Estate Investment Trust		6,500		247,909
City Office REIT, Inc.		14,300		201,630
H&R Real Estate Investment Trust		26,000		273,898
Plaza Retail REIT(b)		70,200		230,245
RioCan Real Estate Investment Trust		14,300		229,483
Slate Office REIT(b)		65,000		238,062
SmartCentres Real Estate Investment Trust		10,400		237,311
				1,918,954
Great Britain (3.78%)
ABRDN PROPERTY INCOME TRUST, Ltd.		240,890		231,458
AEW UK REIT PLC		171,236		248,987
Safestore Holdings PLC		15,964		221,628
				702,073
Guernsey (1.49%)
Balanced Commercial Property Trust, Ltd.		189,397		276,317
Italy (1.14%)
Immobiliare Grande Distribuzione SIIQ SpA		57,005		211,490
Mexico (2.80%)
Concentradora Fibra Danhos SA de CV		243,100		279,645

	Shares		Value
Mexico (continued)
Macquarie Mexico Real Estate Management SA de CV(c)		183,300	$	239,718
				519,363
Netherlands (0.02%)
Eurocommercial Properties NV		166		3,743
Singapore (3.85%)
AIMS APAC REIT		240,500		241,997
Sasseur Real Estate Investment Trust		413,400		236,417
SPH REIT		344,500		235,668
				714,082
South Africa (5.10%)
Fairvest, Ltd., Class B		998,387		198,236
Hyprop Investments, Ltd.(d)		115,063		255,880
SA Corporate Real Estate, Ltd.		1,825,460		237,244
Vukile Property Fund, Ltd.		298,922		255,396
				946,756
Thailand (0.81%)
WHA Industrial Leasehold REIT		752,300		150,215
Turkey (4.76%)
Emlak Konut Gayrimenkul Yatirim Ortakligi AS		1,506,466		259,815
Sinpas Gayrimenkul Yatirim Ortakligi AS(d)		779,961		257,716
Yeni Gimat Gayrimenkul Ortakligi AS		299,929		366,615
				884,146
United States (55.51%)
Agree Realty Corp.		3,900		310,401
Alexander & Baldwin, Inc.		10,400		207,064
American Homes 4 Rent, Class A		6,500		246,220
AvalonBay Communities, Inc.		1,300		278,122
Bluerock Residential Growth REIT, Inc.		9,100		239,057
Brandywine Realty Trust		18,200		170,170
Brixmor Property Group, Inc.		10,400		241,072
Broadstone Net Lease, Inc.		10,400		235,768
Camden Property Trust		1,300		183,430
Cedar Realty Trust, Inc.		11,700		340,002
Centerspace		2,600		223,314
Corporate Office Properties Trust		7,800		219,570
Cousins Properties, Inc.		6,500		200,525
CTO Realty Growth, Inc.		11,700		248,040
Duke Realty Corp.		3,900		243,984
Equity Residential		2,600		203,814
Essex Property Trust, Inc.		1,300		372,489
Extra Space Storage, Inc.		1,300		246,376
First Industrial Realty Trust, Inc.		3,900		202,605

	Shares		Value
United States (continued)
Franklin Street Properties Corp.		45,500	$	172,445
Gladstone Commercial Corp.		11,700		245,115
Global Medical REIT, Inc.		16,900		205,842
Highwoods Properties, Inc.		5,200		184,964
Kilroy Realty Corp.		3,900		211,302
Kimco Realty Corp.		10,400		229,944
Life Storage, Inc.		1,300		163,657
LXP Industrial Trust		16,900		185,393
Mid-America Apartment Communities, Inc.		1,300		241,449
National Retail Properties, Inc.		5,200		247,572
National Storage Affiliates Trust		3,900		213,876
NexPoint Residential Trust, Inc.		2,600		173,004
One Liberty Properties, Inc.		7,800		216,450
Paramount Group, Inc.		28,600		224,510
Piedmont Office Realty Trust, Inc., Class A		13,000		178,880
Prologis, Inc.		1,300		172,328
Public Storage		910		297,033
Retail Opportunity Investments Corp.		13,000		226,980
Rexford Industrial Realty, Inc.		3,900		255,099
RPT Realty		18,200		197,834
Saul Centers, Inc.		5,200		271,856
SITE Centers Corp.		15,600		227,916
STAG Industrial, Inc.		5,200		170,456
Urstadt Biddle Properties, Inc., Class A		13,000		239,200
VICI Properties, Inc.		9,100		311,129
Washington Real Estate Investment Trust		10,400		230,568
				10,306,825
Total Common Stocks
(Cost $18,039,034)				17,817,530

	Shares		Value
Short-Term Investment (1.71%)
Fidelity Investments Money Market Treasury Portfolio Institutional Class, 0.01%(e)(f)		317,732	$	317,732
Total Short-Term Investment
(Cost $317,732)				317,732
Total Investments (97.67%)
(Cost $18,356,766)			$	18,135,262
Other Assets Less Liabilities (2.33%)				433,152
Net Assets (100.00%)			$	18,568,414
Percentages based on Net Assets.

(a)	Real Estate Investment Trust.
(b)	This security or a partial position of this security is on loan at July 31, 2022. The total value of securities on loan at July 31, 2022 was $304,676.
(c)	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2022, the fair value of securities restricted under Rule 144A in the aggregate was $239,718, representing 1.29% of net assets.
(d)	Non-income producing security.
(e)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of July 31, 2022 was $317,732.
(f)	Rate shown is the 7-day effective yield as of July 31, 2022.

As of July 31, 2022, 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.

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