AI Powered International Equity ETF | |||||||
Schedule of Investments | |||||||
August 31, 2021 (Unaudited) | |||||||
Shares | Security Description | Value | |||||
COMMON STOCKS - 99.0% | |||||||
Australia - 7.2% | |||||||
1,723 | Atlassian Corporation plc - Class A (a) | $ | 632,444 | ||||
26,417 | Immutep, Ltd. - ADR (a) | 112,008 | |||||
6,624 | Newcrest Mining, Ltd. | 119,885 | |||||
864,337 | |||||||
Canada - 1.2% | |||||||
2,896 | Canadian Solar, Inc. (a) | 107,065 | |||||
1,642 | IMAX Corporation (a) | 25,796 | |||||
11,185 | Sombrero Resources Shares (a)(b)(e) | – | |||||
11,185 | Tier One Silver, Inc. (a) | 8,724 | |||||
141,585 | |||||||
Denmark - 7.3% | |||||||
719 | Carlsberg AS - Class B | 125,518 | |||||
902 | Coloplast AS - Class B | 156,248 | |||||
1,209 | Novo Nordisk AS - ADR | 120,864 | |||||
1,760 | Novozymes AS - Class B | 142,182 | |||||
83 | ROCKWOOL International AS - Class B | 43,924 | |||||
1,058 | Royal Unibrew AS | 136,639 | |||||
6,094 | Tryg AS | 150,893 | |||||
876,268 | |||||||
France - 1.9% | |||||||
1,015 | Airbus SE (a) | 138,662 | |||||
487 | BNP Paribas SA | 30,896 | |||||
5,617 | Orange SA - ADR | 63,865 | |||||
233,423 | |||||||
Germany - 3.0% | |||||||
45,498 | Affimed NV (a) | 320,305 | |||||
1,082 | Fresenius Medical Care AG & Company KGaA - ADR | 41,744 | |||||
362,049 | |||||||
Ireland - 0.8% | |||||||
1,450 | Amarin Corporation plc - ADR (a) | 7,888 | |||||
627 | Medtronic plc | 83,692 | |||||
91,580 | |||||||
Israel - 13.4% | |||||||
2,984 | Camtek, Ltd. (a) | 123,329 | |||||
16,516 | Compugen, Ltd. (a) | 115,942 | |||||
2,023 | CyberArk Software, Ltd. (a) | 339,743 | |||||
24,657 | Galmed Pharmaceuticals, Ltd. (a) | 80,628 | |||||
1,867 | Kornit Digital, Ltd. (a) | 243,401 | |||||
8,434 | MediWound, Ltd. (a) | 30,700 | |||||
719 | Nice, Ltd. (a) | 209,751 | |||||
6,183 | RADA Electronic Industries, Ltd. (a) | 70,548 | |||||
1,797 | Wix.com, Ltd. (a) | 399,078 | |||||
1,613,120 | |||||||
Japan - 28.0% (c) | |||||||
1,218 | Advantest Corporation | 105,398 | |||||
2,900 | AGC, Inc. | 140,235 | |||||
7,856 | Aoyama Trading Company, Ltd. (a) | 46,130 | |||||
1,839 | Asahi Holdings, Inc. | 37,226 | |||||
2,900 | CyberAgent, Inc. | 53,274 | |||||
1,077 | Daikokutenbussan Company, Ltd. | 67,940 | |||||
8,404 | Daiwa Securities Group, Inc. | 47,553 | |||||
4,614 | Hachijuni Bank, Ltd. | 15,895 | |||||
1,489 | Hioki EE Corporation | 110,171 | |||||
1,490 | JAFCO Group Company, Ltd. | 90,065 | |||||
5,829 | Japan Post Bank Company, Ltd. | 51,023 | |||||
4,300 | Jeol, Ltd. | 317,766 | |||||
3,500 | Kirin Holdings Company, Ltd. | 63,437 | |||||
700 | Kura Sushi, Inc. | 27,455 | |||||
1,423 | Kurita Water Industries, Ltd. | 66,743 | |||||
1,060 | M3, Inc. | 71,309 | |||||
2,100 | Menicon Company, Ltd. | 172,367 | |||||
1,612 | Mitsui OSK Lines, Ltd. | 124,547 | |||||
1,671 | Nippon Gas Company, Ltd. | 23,740 | |||||
2,240 | Nippon Yusen KK | 180,601 | |||||
16,700 | Nissan Motor Company, Ltd. (a) | 87,815 | |||||
25,405 | Nomura Holdings, Inc. | 123,221 | |||||
6,747 | Oji Holdings Corporation | 35,325 | |||||
5,987 | Open Door, Inc. (a) | 122,009 | |||||
1,064 | Organo Corporation | 61,510 | |||||
1,500 | RS Technologies Company, Ltd. | 85,216 | |||||
1,893 | Sanken Electric Company, Ltd. | 93,261 | |||||
1,649 | Sanyo Denki Company, Ltd. | 107,620 | |||||
1,221 | SCREEN Holdings Company, Ltd. | 104,770 | |||||
42,793 | Seven Bank, Ltd. | 97,633 | |||||
3,913 | Shindengen Electric Manufacturing Company, Ltd. (a) | 144,406 | |||||
4,202 | Sumitomo Mitsui Trust Holdings, Inc. | 137,425 | |||||
2,455 | Takeuchi Manufacturing Company, Ltd. | 59,224 | |||||
200 | Tokyo Electron, Ltd. | 85,879 | |||||
2,300 | Toshiba Corporation | 99,827 | |||||
3,022 | Uzabase, Inc. (a) | 65,184 | |||||
3,204 | Yokohama Rubber Company, Ltd. | 54,664 | |||||
3,377,864 | |||||||
Luxembourg - 0.2% | |||||||
570 | Ternium SA - ADR | 30,997 | |||||
Netherlands - 3.2% | |||||||
3,637 | Merus NV (a) | 94,853 | |||||
1,359 | NXP Semiconductors NV | 292,362 | |||||
387,215 | |||||||
Norway - 1.1% | |||||||
5,752 | Gjensidige Forsikring ASA | 134,501 | |||||
Republic of Korea - 7.3% | |||||||
1,035 | Fila Holdings Corporation | 40,081 | |||||
797 | GS Holdings Corporation | 29,214 | |||||
1,635 | Hankook Tire & Technology Company, Ltd. | 65,713 | |||||
1,675 | Hyundai Engineering & Construction Company, Ltd. | 80,178 | |||||
2,891 | Hyundai Steel Company | 127,165 | |||||
301 | Korea Investment Holdings Company, Ltd. | 24,740 | |||||
17,472 | Pan Ocean Company, Ltd. | 125,225 | |||||
2,960 | Pearl Abyss Corporation (a) | 240,741 | |||||
1,310 | Posco International Corporation | 25,704 | |||||
265 | Shinsegae, Inc. | 61,482 | |||||
764 | S-Oil Corporation | 62,665 | |||||
882,908 | |||||||
Sweden - 4.7% | |||||||
2,410 | Spotify Technology SA (a) | 564,759 | |||||
Switzerland - 6.3% | |||||||
2,823 | CRISPR Therapeutics AG (a) | 352,734 | |||||
141 | Lonza Group AG | 119,328 | |||||
63,844 | ObsEva SA (a) | 195,362 | |||||
254 | Sika AG | 91,559 | |||||
758,983 | |||||||
United Kingdom - 3.7% | |||||||
14,639 | Adaptimmune Therapeutics plc - ADR (a) | 75,684 | |||||
1,705 | Atlantica Sustainable Infrastructure plc | 64,125 | |||||
577 | Diageo plc - ADR | 110,847 | |||||
8,304 | JD Sports Fashion plc | 115,252 | |||||
2,805 | Ocado Group plc (a) | 77,631 | |||||
443,539 | |||||||
United States - 5.9% | |||||||
3,748 | Comtech Telecommunications Corporation | 95,649 | |||||
2,790 | Horizon Therapeutics plc (a) | 301,571 | |||||
833 | New Relic, Inc. (a) | 66,615 | |||||
2,682 | RPT Realty | 34,705 | |||||
3,721 | UroGen Pharma, Ltd. (a) | 65,564 | |||||
40,277 | VBI Vaccines, Inc. (a) | 145,400 | |||||
709,504 | |||||||
Uruguay - 3.8% | |||||||
1,440 | Globant SA (a) | 464,083 | |||||
TOTAL COMMON STOCKS (Cost $11,096,051) | 11,936,715 | ||||||
SHORT-TERM INVESTMENTS - 1.3% | |||||||
157,663 | First American Government Obligations Fund - Class X, 0.03% (d) | 157,663 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $157,663) | 157,663 | ||||||
TOTAL INVESTMENTS - 100.3% (Cost $11,253,714) | 12,094,378 | ||||||
Liabilities in Excess of Other Assets - (0.3)% | (33,344 | ) | |||||
NET ASSETS - 100.0% | $ | 12,061,034 |
Percentages are stated as a percent of net assets. | |||||
ADR | American Depositary Receipt. | ||||
(a) | Non-income producing security. | ||||
(b) | Value determined using significant unobservable inputs. Classified as Level 3 in the fair value hierarchy. | ||||
(c) | To the extent the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting that country or region. | ||||
(d) | Annualized seven-day yield as of August 31, 2021. | ||||
(e) | This security has been deemed illiquid according to the Fund's liquidity guidelines. The value of this security is $0, which represents 0.00% of net assets. |
Summary of Fair Value Disclosure at August 31, 2021 (Unaudited) | ||||||||
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United States of America ("U.S. GAAP") establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: | ||||||||
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. | ||||||||
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. | ||||||||
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. | ||||||||
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. | ||||||||
To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. | ||||||||
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety. |
The following is a summary of the inputs used to value the Fund's investments as of August 31, 2021: | |||||||||||||||||
Assets^ | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 11,936,715 | $ | - | $ | - | (a) | $ | 11,936,715 | ||||||||
Short-Term Investments | 157,663 | - | - | 157,663 | |||||||||||||
Total Investments in Securities | $ | 12,094,378 | $ | - | $ | - | (a) | $ | 12,094,378 | ||||||||
^See Schedule of Investments for breakout of investments by country classification. | |||||||||||||||||
(a) Represents less than $0.50. | |||||||||||||||||
During the current fiscal period, the Fund did not recognize any transfers to or from Level 3. | |||||||||||||||||