U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS | ||||
February 29, 2024 (Unaudited) | ||||
COMMON STOCKS - 98.8% | Shares | Value | ||
Communications - 4.4% | ||||
Advertising & Marketing - 0.5% | ||||
Omnicom Group, Inc. | 361 | $ 31,909 | ||
Cable & Satellite - 1.2% | ||||
Charter Communications, Inc. - Class A (a) | 87 | 25,572 | ||
Comcast Corporation - Class A | 743 | 31,838 | ||
Liberty Broadband Corporation - Series C (a) | 419 | 25,215 | ||
82,625 | ||||
Entertainment Content - 1.2% | ||||
AppLovin Corporation - Class A (a) | 777 | 46,403 | ||
Fox Corporation - Class A | 1,041 | 31,011 | ||
77,414 | ||||
Publishing & Broadcasting - 0.5% | ||||
Nexstar Media Group, Inc. | 187 | 31,074 | ||
Telecommunications - 1.0% | ||||
AT&T, Inc. | 1,982 | 33,555 | ||
Verizon Communications, Inc. | 849 | 33,977 | ||
67,532 | ||||
Consumer Discretionary - 15.5% | ||||
Apparel & Textile Products - 2.6% | ||||
Capri Holdings Ltd. (a) | 631 | 29,108 | ||
Crocs, Inc. (a) | 307 | 37,531 | ||
PVH Corporation | 261 | 35,671 | ||
Tapestry, Inc. | 854 | 40,590 | ||
VF Corporation | 1,896 | 30,981 | ||
173,881 | ||||
Automotive - 2.5% | ||||
BorgWarner, Inc. | 944 | 29,387 | ||
Ford Motor Company | 2,747 | 34,173 | ||
General Motors Company | 897 | 36,759 | ||
Harley-Davidson, Inc. | 941 | 34,130 | ||
Lear Corporation | 240 | 32,964 | ||
167,413 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Consumer Discretionary - 15.5% (Continued) | ||||
E-Commerce Discretionary - 0.6% | ||||
eBay, Inc. | 768 | $ 36,311 | ||
Home & Office Products - 0.4% | ||||
Whirlpool Corporation | 267 | 28,673 | ||
Home Construction - 4.1% | ||||
D.R. Horton, Inc. | 208 | 31,084 | ||
KB Home | 515 | 34,211 | ||
Lennar Corporation - Class A | 207 | 32,812 | ||
Meritage Homes Corporation | 184 | 29,009 | ||
Mohawk Industries, Inc. (a) | 308 | 36,534 | ||
PulteGroup, Inc. | 304 | 32,948 | ||
Taylor Morrison Home Corporation (a) | 618 | 34,985 | ||
Toll Brothers, Inc. | 310 | 35,538 | ||
267,121 | ||||
Leisure Facilities & Services - 0.5% | ||||
Boyd Gaming Corporation | 514 | 33,991 | ||
Leisure Products - 1.0% | ||||
Brunswick Corporation | 364 | 31,814 | ||
Polaris, Inc. | 363 | 33,653 | ||
65,467 | ||||
Retail - Discretionary - 3.8% | ||||
Academy Sports & Outdoors, Inc. | 510 | 38,107 | ||
AutoNation, Inc. (a) | 228 | 34,154 | ||
Avis Budget Group, Inc. | 193 | 20,852 | ||
Beacon Roofing Supply, Inc. (a) | 382 | 32,810 | ||
Lithia Motors, Inc. | 109 | 32,598 | ||
Macy's, Inc. | 1,727 | 30,119 | ||
Penske Automotive Group, Inc. | 212 | 32,542 | ||
Signet Jewelers Ltd. | 321 | 32,665 | ||
253,847 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Consumer Staples - 3.7% | ||||
Beverages - 0.5% | ||||
Molson Coors Beverage Company - Class B | 505 | $ 31,522 | ||
Food - 0.5% | ||||
Conagra Brands, Inc. | 1,119 | 31,422 | ||
Retail - Consumer Staples - 1.4% | ||||
Albertsons Companies, Inc. - Class A | 1,405 | 28,493 | ||
Kroger Company (The) | 702 | 34,826 | ||
Walgreens Boots Alliance, Inc. | 1,339 | 28,467 | ||
91,786 | ||||
Tobacco & Cannabis - 0.5% | ||||
Altria Group, Inc. | 773 | 31,623 | ||
Wholesale - Consumer Staples - 0.8% | ||||
Archer-Daniels-Midland Company | 463 | 24,590 | ||
Bunge Global S.A. | 337 | 31,803 | ||
56,393 | ||||
Energy - 16.0% | ||||
Oil & Gas Producers - 15.0% | ||||
Antero Midstream Corporation | 2,636 | 35,322 | ||
APA Corporation | 991 | 29,522 | ||
Chevron Corporation | 221 | 33,594 | ||
Chord Energy Corporation | 205 | 33,302 | ||
Civitas Resources, Inc. | 495 | 33,997 | ||
Coterra Energy, Inc. | 1,277 | 32,921 | ||
Devon Energy Corporation | 738 | 32,516 | ||
Diamondback Energy, Inc. | 212 | 38,693 | ||
Energy Transfer, L.P. | 2,311 | 33,833 | ||
Enterprise Products Partners, L.P. | 1,200 | 32,940 | ||
EOG Resources, Inc. | 280 | 32,049 | ||
Exxon Mobil Corporation | 326 | 34,074 | ||
HF Sinclair Corporation | 604 | 33,522 | ||
Marathon Oil Corporation | 1,402 | 33,999 | ||
Marathon Petroleum Corporation | 207 | 35,031 | ||
Matador Resources Company | 588 | 37,132 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Energy - 16.0% (Continued) | ||||
Oil & Gas Producers - 15.0% (Continued) | ||||
MPLX, L.P. | 866 | $ 33,289 | ||
Murphy Oil Corporation | 819 | 32,490 | ||
New Fortress Energy, Inc. | 907 | 31,881 | ||
Ovintiv, Inc. | 782 | 38,639 | ||
PBF Energy, Inc. - Class A | 771 | 36,006 | ||
Permian Resources Corporation | 2,429 | 37,795 | ||
Phillips 66 | 247 | 35,200 | ||
Pioneer Natural Resources Company | 146 | 34,338 | ||
Plains All American Pipeline, L.P. | 2,075 | 34,072 | ||
Range Resources Corporation | 1,071 | 33,865 | ||
Southwestern Energy Company (a) | 4,786 | 33,358 | ||
Valero Energy Corporation | 251 | 35,506 | ||
Western Midstream Partners, L.P. | 1,138 | 38,066 | ||
996,952 | ||||
Oil & Gas Services & Equipment - 1.0% | ||||
Halliburton Company | 941 | 33,001 | ||
Noble Corporation plc | 720 | 30,103 | ||
63,104 | ||||
Financials - 35.0% | ||||
Asset Management - 2.4% | ||||
Affiliated Managers Group, Inc. | 218 | 34,076 | ||
Blue Owl Capital Corporation | 2,134 | 32,181 | ||
Carlyle Group, Inc. (The) | 819 | 37,550 | ||
F&G Annuities & Life, Inc. | 770 | 29,091 | ||
Invesco Ltd. | 1,823 | 28,092 | ||
160,990 | ||||
Banking - 13.2% | ||||
Bank of America Corporation | 970 | 33,484 | ||
Bank OZK | 679 | 29,740 | ||
Citigroup, Inc. | 618 | 34,293 | ||
Citizens Financial Group, Inc. | 986 | 30,951 | ||
Columbia Banking System, Inc. | 1,269 | 22,969 | ||
Comerica, Inc. | 583 | 28,789 | ||
Credicorp Ltd. | 218 | 37,251 | ||
East West Bancorp, Inc. | 445 | 32,423 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Financials - 35.0% (Continued) | ||||
Banking - 13.2% (Continued) | ||||
Fifth Third Bancorp | 923 | $ 31,696 | ||
First Citizens BancShares, Inc. - Class A | 23 | 36,198 | ||
First Horizon Corporation | 2,312 | 32,599 | ||
FNB Corporation | 2,384 | 31,803 | ||
Huntington Bancshares, Inc. | 2,529 | 32,978 | ||
JPMorgan Chase & Company | 189 | 35,165 | ||
M&T Bank Corporation | 238 | 33,258 | ||
New York Community Bancorp, Inc. | 3,169 | 15,180 | ||
Old National Bancorp | 1,939 | 31,858 | ||
Popular, Inc. | 393 | 32,886 | ||
Regions Financial Corporation | 1,732 | 32,267 | ||
Synovus Financial Corporation | 879 | 33,349 | ||
Truist Financial Corporation | 861 | 30,118 | ||
US Bancorp | 751 | 31,512 | ||
Valley National Bancorp | 3,099 | 25,381 | ||
Webster Financial Corporation | 640 | 30,490 | ||
Wells Fargo & Company | 656 | 36,466 | ||
Western Alliance Bancorp | 503 | 29,038 | ||
Wintrust Financial Corporation | 338 | 32,566 | ||
Zions Bancorporation N.A. | 742 | 29,257 | ||
873,965 | ||||
Institutional Financial Services - 2.0% | ||||
Bank of New York Mellon Corporation (The) | 610 | 34,216 | ||
Goldman Sachs Group, Inc. (The) | 85 | 33,069 | ||
Jefferies Financial Group, Inc. | 814 | 34,041 | ||
State Street Corporation | 422 | 31,114 | ||
132,440 | ||||
Insurance - 10.9% | ||||
American Financial Group, Inc. | 269 | 34,343 | ||
American International Group, Inc. | 478 | 34,841 | ||
Arch Capital Group Ltd. (a) | 414 | 36,262 | ||
Axis Capital Holdings Ltd. | 575 | 35,978 | ||
Chubb Ltd. | 141 | 35,485 | ||
CNA Financial Corporation | 759 | 33,358 | ||
Corebridge Financial, Inc. | 1,341 | 33,297 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Financials - 35.0% (Continued) | ||||
Insurance - 10.9% (Continued) | ||||
Enstar Group Ltd. (a) | 117 | $ 36,029 | ||
Equitable Holdings, Inc. | 981 | 33,589 | ||
Everest Group Ltd. | 86 | 31,724 | ||
Globe Life, Inc. | 268 | 34,017 | ||
Hartford Financial Services Group, Inc. (The) | 389 | 37,283 | ||
MetLife, Inc. | 464 | 32,359 | ||
Old Republic International Corporation | 1,086 | 31,451 | ||
Principal Financial Group, Inc. | 407 | 32,910 | ||
Prudential Financial, Inc. | 311 | 33,896 | ||
Reinsurance Group of America, Inc. | 192 | 33,955 | ||
RenaissanceRe Holdings Ltd. | 158 | 35,522 | ||
Travelers Companies, Inc. (The) | 165 | 36,459 | ||
Unum Group | 711 | 35,159 | ||
Voya Financial, Inc. | 454 | 31,035 | ||
718,952 | ||||
Specialty Finance - 6.5% | ||||
AerCap Holdings N.V. (a) | 433 | 33,419 | ||
AGNC Investment Corporation | 3,226 | 30,841 | ||
Ally Financial, Inc. | 958 | 35,436 | ||
Annaly Capital Management, Inc. | 1,644 | 31,384 | ||
Capital One Financial Corporation | 251 | 34,540 | ||
Discover Financial Services | 289 | 34,882 | ||
Essent Group Ltd. | 609 | 32,624 | ||
Fidelity National Financial, Inc. | 648 | 32,776 | ||
MGIC Investment Corporation | 1,674 | 33,296 | ||
OneMain Holdings, Inc. | 647 | 30,558 | ||
Rithm Capital Corporation | 3,040 | 32,954 | ||
Starwood Property Trust, Inc. | 1,539 | 31,380 | ||
Synchrony Financial | 847 | 34,981 | ||
429,071 | ||||
Health Care - 4.9% | ||||
Biotech & Pharma - 3.4% | ||||
Bristol-Myers Squibb Company | 640 | 32,480 | ||
Gilead Sciences, Inc. | 377 | 27,182 | ||
Halozyme Therapeutics, Inc. (a) | 945 | 37,621 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Health Care - 4.9% (Continued) | ||||
Biotech & Pharma - 3.4% (Continued) | ||||
Jazz Pharmaceuticals plc (a) | 267 | $ 31,746 | ||
Royalty Pharma plc - Class A | 1,124 | 34,102 | ||
United Therapeutics Corporation (a) | 146 | 32,943 | ||
Viatris, Inc. | 2,665 | 32,966 | ||
229,040 | ||||
Health Care Facilities & Services - 1.5% | ||||
Centene Corporation (a) | 405 | 31,764 | ||
Cigna Group (The) | 105 | 35,295 | ||
CVS Health Corporation | 408 | 30,343 | ||
97,402 | ||||
Industrials - 7.5% | ||||
Commercial Support Services - 0.5% | ||||
H&R Block, Inc. | 689 | 33,727 | ||
Diversified Industrials - 0.4% | ||||
3M Company | 295 | 27,175 | ||
Electrical Equipment - 1.6% | ||||
Atkore, Inc. | 212 | 35,913 | ||
Sensata Technologies Holding plc | 925 | 31,839 | ||
Vontier Corporation | 917 | 39,430 | ||
107,182 | ||||
Industrial Support Services - 0.4% | ||||
WESCO International, Inc. | 186 | 27,805 | ||
Machinery - 1.5% | ||||
AGCO Corporation | 269 | 29,509 | ||
CNH Industrial N.V. | 2,768 | 33,078 | ||
Oshkosh Corporation | 303 | 33,590 | ||
96,177 | ||||
Transportation & Logistics - 2.5% | ||||
Alaska Air Group, Inc. (a) | 870 | 32,529 | ||
American Airlines Group, Inc. (a) | 2,205 | 34,575 | ||
Delta Air Lines, Inc. | 761 | 32,167 | ||
Ryder System, Inc. | 291 | 33,204 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Industrials - 7.5% (Continued) | ||||
Transportation & Logistics - 2.5% (Continued) | ||||
United Airlines Holdings, Inc. (a) | 723 | $ 32,890 | ||
165,365 | ||||
Transportation Equipment - 0.6% | ||||
Allison Transmission Holdings, Inc. | 558 | 42,034 | ||
Materials - 4.2% | ||||
Chemicals - 1.3% | ||||
Chemours Company (The) | 1,064 | 20,929 | ||
LyondellBasell Industries N.V. - Class A | 340 | 34,095 | ||
Mosaic Company (The) | 964 | 30,038 | ||
85,062 | ||||
Construction Materials - 0.5% | ||||
Owens Corning | 214 | 32,053 | ||
Containers & Packaging - 1.4% | ||||
Berry Global Group, Inc. | 485 | 28,232 | ||
Graphic Packaging Holding Company | 1,249 | 32,412 | ||
Sonoco Products Company | 559 | 31,684 | ||
92,328 | ||||
Metals & Mining - 0.5% | ||||
Anglogold Ashanti plc (a) | 1,909 | 35,526 | ||
Steel - 0.5% | ||||
Commercial Metals Company | 634 | 34,236 | ||
Real Estate - 0.4% | ||||
REITs - 0.4% | ||||
Healthpeak Properties, Inc. | 1,585 | 26,549 | ||
Technology - 5.1% | ||||
Software - 1.2% | ||||
Clarivate plc (a) | 3,586 | 25,747 | ||
Concentrix Corporation | 344 | 24,923 | ||
Gen Digital, Inc. | 1,397 | 30,022 | ||
80,692 |
U.S. VALUE ETF | ||||
SCHEDULE OF INVESTMENTS (Continued) | ||||
COMMON STOCKS - 98.8% (Continued) | Shares | Value | ||
Technology - 5.1% (Continued) | ||||
Technology Hardware - 2.5% | ||||
Arrow Electronics, Inc. (a) | 277 | $ 32,548 | ||
Dell Technologies, Inc. - Class C | 404 | 38,242 | ||
Hewlett Packard Enterprise Company | 1,965 | 29,927 | ||
HP, Inc. | 1,072 | 30,370 | ||
TD SYNNEX Corporation | 308 | 32,001 | ||
163,088 | ||||
Technology Services - 1.4% | ||||
Dun & Bradstreet Holdings, Inc. | 2,792 | 29,428 | ||
Global Payments, Inc. | 244 | 31,647 | ||
PayPal Holdings, Inc. (a) | 524 | 31,618 | ||
92,693 | ||||
Utilities - 2.1% | ||||
Electric Utilities - 1.6% | ||||
AES Corporation (The) | 1,784 | 27,117 | ||
NRG Energy, Inc. | 637 | 35,239 | ||
Vistra Corporation | 827 | 45,104 | ||
107,460 | ||||
Gas & Water Utilities - 0.5% | ||||
UGI Corporation | 1,356 | 33,195 | ||
Investments at Value - 98.8% (Cost $6,169,328) | $ 6,544,267 | |||
Other Assets in Excess of Liabilities - 1.2% | 80,590 | |||
Net Assets - 100.0% | $ 6,624,857 | |||
N.A. - National Association | |
N.V. - Naamloze Vennootschap | |
plc - Public Limited Company | |
REIT - Real Estate Investment Trust | |
S.A. - Societe Anonyme | |
(a) | Non-income producing security. |