Aptus Collared Investment Opportunity ETF |
Schedule of Investments |
January 31, 2024 (Unaudited) |
Shares | Security Description | Value | ||||||
COMMON STOCKS — 98.9% | ||||||||
Basic Materials — 2.3% | ||||||||
61,959 | Freeport-McMoRan, Inc. (a) | $ | 2,459,153 | |||||
23,750 | Linde plc (a) | 9,614,712 | ||||||
8,773 | Sherwin-Williams Company (a) | 2,670,325 | ||||||
14,744,190 | ||||||||
Communications — 12.5% | ||||||||
168,064 | Alphabet, Inc. - Class C (a)(b) | 23,831,474 | ||||||
140,634 | Amazon.com, Inc. (a)(b) | 21,826,397 | ||||||
62,373 | Cisco Systems, Inc. (a) | 3,129,877 | ||||||
68,351 | Comcast Corporation - Class A (a) | 3,181,056 | ||||||
34,166 | Meta Platforms, Inc. - Class A (a)(b) | 13,329,523 | ||||||
7,570 | Netflix, Inc. (a)(b) | 4,270,313 | ||||||
39,530 | T-Mobile US, Inc. (a) | 6,373,422 | ||||||
31,474 | Walt Disney Company (a) | 3,023,078 | ||||||
78,965,140 | ||||||||
Consumer, Cyclical — 8.6% | ||||||||
8,427 | Costco Wholesale Corporation (a) | 5,855,754 | ||||||
34,871 | Lowe's Companies, Inc. (a) | 7,421,944 | ||||||
30,216 | Marriott International, Inc. - Class A (a) | 7,243,682 | ||||||
25,645 | McDonald's Corporation (a) | 7,506,804 | ||||||
18,914 | NIKE, Inc. - Class B (a) | 1,920,338 | ||||||
47,373 | PulteGroup, Inc. (a) | 4,953,321 | ||||||
42,572 | Tesla, Inc. (a)(b) | 7,973,310 | ||||||
55,028 | TJX Companies, Inc. (a) | 5,222,707 | ||||||
37,921 | Walmart, Inc. (a) | 6,266,445 | ||||||
54,364,305 | ||||||||
Consumer, Non-cyclical — 17.4% | ||||||||
51,812 | Abbott Laboratories (a) | 5,862,528 | ||||||
29,034 | AbbVie, Inc. (a) | 4,773,190 | ||||||
82,783 | Altria Group, Inc. (a) | 3,321,254 | ||||||
12,937 | Amgen, Inc. (a) | 4,065,582 | ||||||
8,022 | Automatic Data Processing, Inc. | 1,971,647 | ||||||
8,578 | Chemed Corporation (a) | 5,084,953 | ||||||
12,824 | Elevance Health, Inc. (a) | 6,327,875 | ||||||
12,374 | Eli Lilly & Company (a) | 7,988,778 | ||||||
43,763 | Gilead Sciences, Inc. (a) | 3,424,892 | ||||||
41,758 | Johnson & Johnson (a) | 6,635,346 | ||||||
40,879 | Merck & Company, Inc. (a) | 4,937,366 | ||||||
86,077 | Mondelez International, Inc. - Class A (a) | 6,479,016 | ||||||
52,429 | PepsiCo, Inc. (a) | 8,835,858 | ||||||
88,440 | Pfizer, Inc. (a) | 2,394,955 | ||||||
54,627 | Procter & Gamble Company (a) | 8,584,087 | ||||||
35,810 | Stryker Corporation (a) | 12,013,538 | ||||||
15,447 | Thermo Fisher Scientific, Inc. (a) | 8,325,624 | ||||||
16,086 | UnitedHealth Group, Inc. (a) | 8,231,850 | ||||||
109,258,339 | ||||||||
Energy — 3.7% | ||||||||
108,147 | Devon Energy Corporation | 4,544,337 | ||||||
31,227 | Diamondback Energy, Inc. (a) | 4,800,839 | ||||||
116,433 | Exxon Mobil Corporation (a) | 11,970,477 | ||||||
42,118 | Schlumberger NV (a) | 2,051,147 | ||||||
23,366,800 | ||||||||
Financial — 14.5% | ||||||||
22,939 | American Tower Corporation (a) | 4,488,015 | ||||||
168,392 | Bank of America Corporation (a) | 5,727,012 | ||||||
28,704 | Berkshire Hathaway, Inc. - Class B (a)(b) | 11,014,873 | ||||||
9,126 | BlackRock, Inc. (a) | 7,066,353 | ||||||
67,594 | Citigroup, Inc. (a) | 3,796,755 | ||||||
34,280 | Intercontinental Exchange, Inc. (a) | 4,364,872 | ||||||
64,929 | JPMorgan Chase & Company (a) | 11,321,020 | ||||||
30,531 | Marsh & McLennan Companies, Inc. (a) | 5,918,129 | ||||||
65,649 | Morgan Stanley (a) | 5,727,219 | ||||||
51,463 | Progressive Corporation (a) | 9,173,280 | ||||||
56,553 | Prologis, Inc. (a) | 7,164,700 | ||||||
11,080 | Public Storage (a) | 3,137,745 | ||||||
45,760 | Visa, Inc. - Class A (a) | 12,504,378 | ||||||
91,404,351 | ||||||||
Industrial — 8.2% | ||||||||
34,115 | Caterpillar, Inc. (a) | 10,245,075 | ||||||
219,787 | CSX Corporation (a) | 7,846,396 | ||||||
11,045 | Deere & Company (a) | 4,347,091 | ||||||
12,983 | Eaton Corporation plc | 3,194,857 | ||||||
22,561 | FedEx Corporation (a) | 5,443,744 | ||||||
30,925 | Honeywell International, Inc. (a) | 6,254,891 | ||||||
22,768 | Lockheed Martin Corporation | 9,776,807 | ||||||
25,872 | Waste Management, Inc. (a) | 4,802,619 | ||||||
51,911,480 | ||||||||
Technology — 29.4% (c) | ||||||||
24,068 | Accenture plc - Class A (a) | 8,757,864 | ||||||
8,521 | Adobe, Inc. (a)(b) | 5,264,103 | ||||||
24,545 | Advanced Micro Devices, Inc. (b) | 4,115,951 | ||||||
49,197 | Analog Devices, Inc. (a) | 9,463,535 | ||||||
225,717 | Apple, Inc. (a) | 41,622,215 | ||||||
55,025 | Applied Materials, Inc. (a) | 9,040,608 | ||||||
8,054 | Broadcom, Inc. (a) | 9,503,720 | ||||||
38,393 | Fiserv, Inc. (a)(b) | 5,446,815 | ||||||
16,822 | Intuit, Inc. (a) | 10,620,233 | ||||||
114,876 | Microsoft Corporation (a) | 45,672,400 | ||||||
38,336 | NVIDIA Corporation (a) | 23,586,991 | ||||||
15,431 | ServiceNow, Inc. (a)(b) | 11,810,887 | ||||||
184,905,322 | ||||||||
Utilities — 2.3% | ||||||||
43,093 | Duke Energy Corporation | 4,129,602 | ||||||
68,736 | NextEra Energy, Inc. (a) | 4,029,992 | ||||||
87,632 | Southern Company (a) | 6,092,177 | ||||||
14,251,771 | ||||||||
TOTAL COMMON STOCKS (Cost $494,993,175) | 623,171,698 |
Contracts | Notional Amount | ||||||||||
PURCHASED OPTIONS (d) — 0.5% | |||||||||||
Put Options — 0.5% | |||||||||||
1,340 | S&P 500 Index, Expiration: 03/15/2024, Exercise Price: $4,650.00 (e) | $ | 649,317,100 | 3,403,600 | |||||||
TOTAL PURCHASED OPTIONS (Cost $2,531,993) | 3,403,600 | ||||||||||
Shares | |||||||||||
SHORT-TERM INVESTMENTS — 0.6% | |||||||||||
3,655,953 | First American Treasury Obligations Fund - Class X, 5.25% (f) | 3,655,953 | |||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $3,655,953) | 3,655,953 | ||||||||||
TOTAL INVESTMENTS (Cost $501,181,121) — 100.0% | 630,231,251 | ||||||||||
Liabilities in Excess of Other Assets — (0.0)% (g) | (240,010 | ) | |||||||||
NET ASSETS — 100.0% | $ | 629,991,241 |
Percentages are stated as a percent of net assets. |
(a) All or a portion of this security is held as collateral for written options. At January 31, 2024, the total value of securities held as collateral amounted to $522,984,592 or 83.01% of net assets. |
(b) Non-income producing security. |
(c) To the extent that the Fund invests more heavily in particular sectors of the economy, its performance will be especially sensitive to developments that significantly affect those sectors. |
(d) Exchange traded. (e) Security is held in connection with written options, see Schedule of Written Options for more details. (f) Rate shown is the annualized seven-day yield as of January 31, 2024. (g) Represents less than 0.05% of net assets. |
Aptus Collared Investment Opportunity ETF | |||||||||||
Schedule of Written Options | |||||||||||
January 31, 2024 (Unaudited) | |||||||||||
Contracts | Security Description | Notional Amount | Value | ||||||||
WRITTEN OPTIONS (a) - (0.1)% | |||||||||||
Call Options — (0.0)% (b) | |||||||||||
(200) | AbbVie, Inc., Expiration: 02/16/2024, Exercise Price: $170.00 | $ | (3,288,000 | ) | $ | (28,700 | ) | ||||
(200) | Accenture plc - Class A, Expiration: 02/16/2024, Exercise Price: $390.00 | (7,277,600 | ) | (6,500 | ) | ||||||
(700) | Amazon.com, Inc., Expiration: 02/16/2024, Exercise Price: $190.00 | (10,864,000 | ) | (10,850 | ) | ||||||
(200) | American Tower Corporation, Expiration: 02/16/2024, Exercise Price: $210.00 | (3,913,000 | ) | (8,500 | ) | ||||||
(80) | Broadcom, Inc., Expiration: 02/16/2024, Exercise Price: $1,370.00 | (9,440,000 | ) | (6,200 | ) | ||||||
(300) | Caterpillar, Inc., Expiration: 02/16/2024, Exercise Price: $330.00 | (9,009,300 | ) | (39,600 | ) | ||||||
(600) | JPMorgan Chase & Company, Expiration: 02/16/2024, Exercise Price: $180.00 | (10,461,600 | ) | (43,800 | ) | ||||||
(200) | Marriott International, Inc. - Class A, Expiration: 02/16/2024, Exercise Price: $240.00 | (4,794,600 | ) | (121,000 | ) | ||||||
(300) | Meta Platforms, Inc. - Class A, Expiration: 02/16/2024, Exercise Price: $470.00 | (11,704,200 | ) | (20,700 | ) | ||||||
(70) | Netflix, Inc., Expiration: 02/16/2024, Exercise Price: $620.00 | (3,948,770 | ) | (8,155 | ) | ||||||
(100) | NVIDIA Corporation, Expiration: 02/16/2024, Exercise Price: $700.00 | (6,152,700 | ) | (17,650 | ) | ||||||
(311,655 | ) | ||||||||||
Put Options — (0.1)% | |||||||||||
(1,340) | S&P 500 Index, Expiration: 03/15/2024, Exercise Price: $4,000.00 | (649,317,100 | ) | (482,400 | ) | ||||||
TOTAL WRITTEN OPTIONS (Premiums Received $1,106,364) | $ | (794,055 | ) | ||||||||
Percentages are stated as a percent of net assets. (a) Exchange traded. (b) Represents less than 0.05% of net assets. |
Summary of Fair Value Disclosure at January 31, 2024 (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 January 31, 2024:
Aptus Collared Investment Opportunity ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets(a) | ||||||||||||||||
Common Stocks | $ | 623,171,698 | $ | – | $ | – | $ | 623,171,698 | ||||||||
Purchased Options | – | 3,403,600 | – | 3,403,600 | ||||||||||||
Short-Term Investments | 3,655,953 | – | – | 3,655,953 | ||||||||||||
Total Investments in Securities | $ | 626,827,651 | $ | 3,403,600 | $ | – | $ | 630,231,251 | ||||||||
Liabilities(a) | ||||||||||||||||
Written Options | $ | – | $ | 794,055 | $ | – | $ | 794,055 | ||||||||
Total Investments in Securities | $ | – | $ | 794,055 | $ | – | $ | 794,055 |
(a) See Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. |
For the period ended January 31, 2024, the Fund did not recognize any transfers to or from Level 3. |