AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS — 102.5% | ||||||||
AEROSPACE/DEFENSE — 3.4% | ||||||||
685 | Boeing Co.* | $ | 93,653 | |||||
271 | General Dynamics Corp. | 59,959 | ||||||
294 | Lockheed Martin Corp.1 | 126,408 | ||||||
167 | Northrop Grumman Corp. | 79,921 | ||||||
1,732 | Raytheon Technologies Corp.1 | 166,463 | ||||||
526,404 | ||||||||
AGRICULTURE — 1.7% | ||||||||
1,804 | Altria Group, Inc. | 75,353 | ||||||
504 | Archer-Daniels-Midland Co. | 39,110 | ||||||
1,554 | Philip Morris International, Inc.1 | 153,442 | ||||||
267,905 | ||||||||
APPAREL — 0.5% | ||||||||
790 | NIKE, Inc. - Class B | 80,738 | ||||||
AUTO MANUFACTURERS — 2.6% | ||||||||
2,461 | Ford Motor Co. | 27,391 | ||||||
800 | General Motors Co.* | 25,408 | ||||||
531 | Tesla, Inc.*,1 | 357,586 | ||||||
410,385 | ||||||||
BANKS — 6.1% | ||||||||
5,634 | Bank of America Corp.1 | 175,386 | ||||||
1,583 | Citigroup, Inc. | 72,802 | ||||||
271 | Goldman Sachs Group, Inc. | 80,492 | ||||||
2,371 | JPMorgan Chase & Co.1 | 266,998 | ||||||
1,129 | Morgan Stanley | 85,872 | ||||||
337 | PNC Financial Services Group, Inc. | 53,169 | ||||||
1,067 | Truist Financial Corp. | 50,608 | ||||||
1,085 | U.S. Bancorp | 49,932 | ||||||
3,053 | Wells Fargo & Co. | 119,586 | ||||||
954,845 | ||||||||
BEVERAGES — 3.9% | ||||||||
4,164 | Coca-Cola Co.1 | 261,957 | ||||||
165 | Constellation Brands, Inc. - Class A | 38,455 | ||||||
938 | Keurig Dr Pepper, Inc. | 33,196 | ||||||
407 | Monster Beverage Corp.* | 37,729 | ||||||
1,460 | PepsiCo, Inc.1 | 243,323 | ||||||
614,660 | ||||||||
BIOTECHNOLOGY — 0.7% | ||||||||
252 | Amgen, Inc. | 61,312 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
BIOTECHNOLOGY (Continued) | ||||||||
768 | Corteva, Inc. | $ | 41,579 | |||||
102,891 | ||||||||
BUILDING MATERIALS — 0.2% | ||||||||
184 | Vulcan Materials Co. | 26,146 | ||||||
CHEMICALS — 4.1% | ||||||||
308 | Air Products and Chemicals, Inc. | 74,068 | ||||||
173 | Albemarle Corp. | 36,154 | ||||||
1,086 | Dow, Inc. | 56,048 | ||||||
757 | DuPont de Nemours, Inc. | 42,074 | ||||||
376 | Ecolab, Inc. | 57,814 | ||||||
752 | Linde PLC2 | 216,223 | ||||||
338 | LyondellBasell Industries N.V. - Class A2 | 29,561 | ||||||
484 | Mosaic Co. | 22,859 | ||||||
314 | PPG Industries, Inc. | 35,903 | ||||||
354 | Sherwin-Williams Co. | 79,264 | ||||||
649,968 | ||||||||
COMMERCIAL SERVICES — 1.5% | ||||||||
229 | Automatic Data Processing, Inc. | 48,099 | ||||||
636 | PayPal Holdings, Inc.* | 44,418 | ||||||
404 | S&P Global, Inc. | 136,173 | ||||||
228,690 | ||||||||
COMPUTERS — 5.7% | ||||||||
361 | Accenture PLC2 | 100,232 | ||||||
5,313 | Apple, Inc.1 | 726,393 | ||||||
491 | International Business Machines Corp. | 69,324 | ||||||
895,949 | ||||||||
COSMETICS/PERSONAL CARE — 3.2% | ||||||||
888 | Colgate-Palmolive Co. | 71,164 | ||||||
246 | Estee Lauder Cos., Inc. - Class A | 62,649 | ||||||
2,531 | Procter & Gamble Co.1 | 363,933 | ||||||
497,746 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 4.0% | ||||||||
487 | American Express Co. | 67,508 | ||||||
110 | BlackRock, Inc. | 66,994 | ||||||
1,152 | Charles Schwab Corp. | 72,783 | ||||||
265 | CME Group, Inc. | 54,246 | ||||||
450 | Intercontinental Exchange, Inc. | 42,318 | ||||||
471 | Mastercard, Inc. - Class A1 | 148,591 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
DIVERSIFIED FINANCIAL SERVICES (Continued) | ||||||||
905 | Visa, Inc. - Class A1 | $ | 178,186 | |||||
630,626 | ||||||||
ELECTRIC — 2.3% | ||||||||
286 | American Electric Power Co., Inc. | 27,439 | ||||||
200 | Consolidated Edison, Inc. | 19,020 | ||||||
483 | Dominion Energy, Inc. | 38,548 | ||||||
454 | Duke Energy Corp. | 48,673 | ||||||
520 | Exelon Corp. | 23,567 | ||||||
1,157 | NextEra Energy, Inc. | 89,621 | ||||||
289 | Public Service Enterprise Group, Inc. | 18,288 | ||||||
156 | Sempra Energy | 23,442 | ||||||
625 | Southern Co. | 44,569 | ||||||
313 | Xcel Energy, Inc. | 22,148 | ||||||
355,315 | ||||||||
ELECTRICAL COMPONENTS & EQUIPMENT — 0.3% | ||||||||
690 | Emerson Electric Co. | 54,883 | ||||||
ELECTRONICS — 0.9% | ||||||||
797 | Honeywell International, Inc.1 | 138,527 | ||||||
ENERGY-ALTERNATE SOURCES — 0.1% | ||||||||
91 | Enphase Energy, Inc.* | 17,767 | ||||||
ENVIRONMENTAL CONTROL — 0.4% | ||||||||
458 | Waste Management, Inc. | 70,065 | ||||||
FOOD — 1.5% | ||||||||
572 | General Mills, Inc. | 43,157 | ||||||
143 | Hershey Co. | 30,768 | ||||||
656 | Kroger Co. | 31,048 | ||||||
1,465 | Mondelez International, Inc. | 90,962 | ||||||
535 | Sysco Corp. | 45,320 | ||||||
241,255 | ||||||||
HEALTHCARE-PRODUCTS — 2.1% | ||||||||
846 | Abbott Laboratories | 91,918 | ||||||
323 | Danaher Corp. | 81,887 | ||||||
644 | Medtronic PLC2 | 57,799 | ||||||
188 | Thermo Fisher Scientific, Inc. | 102,136 | ||||||
333,740 | ||||||||
HEALTHCARE-SERVICES — 1.8% | ||||||||
116 | Elevance Health, Inc. | 55,979 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
HEALTHCARE-SERVICES (Continued) | ||||||||
451 | UnitedHealth Group, Inc.1 | $ | 231,647 | |||||
287,626 | ||||||||
HOUSEHOLD PRODUCTS/WARES — 0.3% | ||||||||
342 | Kimberly-Clark Corp. | 46,221 | ||||||
INSURANCE — 4.3% | ||||||||
2,006 | Berkshire Hathaway, Inc.*,1 | 547,678 | ||||||
326 | Chubb Ltd.2 | 64,085 | ||||||
384 | Marsh & McLennan Cos., Inc. | 59,616 | ||||||
671,379 | ||||||||
INTERNET — 9.8% | ||||||||
305 | Alphabet, Inc. - Class A*,1 | 664,674 | ||||||
5,660 | Amazon.com, Inc.*,1 | 601,149 | ||||||
26 | Booking Holdings, Inc.* | 45,474 | ||||||
1,198 | Meta Platforms, Inc.*,1 | 193,178 | ||||||
227 | Netflix, Inc.* | 39,695 | ||||||
1,544,170 | ||||||||
IRON/STEEL — 0.2% | ||||||||
317 | Nucor Corp. | 33,098 | ||||||
LODGING — 0.3% | ||||||||
161 | Hilton Worldwide Holdings, Inc. | 17,942 | ||||||
182 | Marriott International, Inc. - Class A | 24,754 | ||||||
42,696 | ||||||||
MACHINERY-CONSTRUCTION & MINING — 0.7% | ||||||||
622 | Caterpillar, Inc.1 | 111,189 | ||||||
MACHINERY-DIVERSIFIED — 0.6% | ||||||||
325 | Deere & Co. | 97,328 | ||||||
MEDIA — 1.5% | ||||||||
35 | Charter Communications, Inc. - Class A* | 16,399 | ||||||
2,800 | Comcast Corp. - Class A | 109,872 | ||||||
162 | Liberty Global PLC*,2 | 3,410 | ||||||
1,126 | Walt Disney Co.*,1 | 106,294 | ||||||
235,975 | ||||||||
MINING — 0.8% | ||||||||
1,889 | Freeport-McMoRan, Inc. | 55,272 | ||||||
1,099 | Newmont Corp. | 65,577 | ||||||
120,849 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
MISCELLANEOUS MANUFACTURING — 1.4% | ||||||||
660 | 3M Co. | $ | 85,411 | |||||
464 | Eaton Corp. PLC2 | 58,459 | ||||||
1,075 | General Electric Co. | 68,445 | ||||||
212,315 | ||||||||
OIL & GAS — 5.2% | ||||||||
1,408 | Chevron Corp.1 | 203,850 | ||||||
937 | ConocoPhillips | 84,152 | ||||||
456 | Devon Energy Corp. | 25,130 | ||||||
123 | Diamondback Energy, Inc. | 14,902 | ||||||
351 | EOG Resources, Inc. | 38,764 | ||||||
3,060 | Exxon Mobil Corp.1 | 262,058 | ||||||
177 | Hess Corp. | 18,751 | ||||||
380 | Marathon Petroleum Corp. | 31,240 | ||||||
677 | Occidental Petroleum Corp. | 39,862 | ||||||
352 | Phillips 66 | 28,861 | ||||||
165 | Pioneer Natural Resources Co. | 36,808 | ||||||
281 | Valero Energy Corp. | 29,865 | ||||||
814,243 | ||||||||
OIL & GAS SERVICES — 0.4% | ||||||||
522 | Baker Hughes Co. | 15,070 | ||||||
611 | Halliburton Co. | 19,161 | ||||||
970 | Schlumberger N.V.2 | 34,687 | ||||||
68,918 | ||||||||
PACKAGING & CONTAINERS — 0.2% | ||||||||
417 | Ball Corp. | 28,677 | ||||||
PHARMACEUTICALS — 6.1% | ||||||||
847 | AbbVie, Inc. | 129,727 | ||||||
968 | Bristol-Myers Squibb Co. | 74,536 | ||||||
629 | CVS Health Corp. | 58,283 | ||||||
379 | Eli Lilly & Co. | 122,883 | ||||||
1,262 | Johnson & Johnson1 | 224,018 | ||||||
150 | McKesson Corp. | 48,932 | ||||||
1,213 | Merck & Co., Inc. | 110,589 | ||||||
2,710 | Pfizer, Inc. | 142,085 | ||||||
226 | Zoetis, Inc. | 38,847 | ||||||
949,900 | ||||||||
PIPELINES — 0.6% | ||||||||
186 | Cheniere Energy, Inc. | 24,744 | ||||||
1,475 | Kinder Morgan, Inc. | 24,721 | ||||||
303 | ONEOK, Inc. | 16,816 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
PIPELINES (Continued) | ||||||||
844 | Williams Cos., Inc. | $ | 26,341 | |||||
92,622 | ||||||||
REITS — 1.4% | ||||||||
366 | American Tower Corp. - REIT | 93,546 | ||||||
330 | Crown Castle International Corp. - REIT | 55,566 | ||||||
559 | Prologis, Inc. - REIT | 65,766 | ||||||
214,878 | ||||||||
RETAIL — 5.7% | ||||||||
16 | Chipotle Mexican Grill, Inc.* | 20,916 | ||||||
274 | Costco Wholesale Corp.1 | 131,323 | ||||||
120 | Dollar General Corp. | 29,453 | ||||||
639 | Home Depot, Inc.1 | 175,258 | ||||||
410 | Lowe's Cos., Inc. | 71,615 | ||||||
460 | McDonald's Corp. | 113,565 | ||||||
38 | O'Reilly Automotive, Inc.* | 24,007 | ||||||
713 | Starbucks Corp. | 54,466 | ||||||
272 | Target Corp. | 38,414 | ||||||
735 | TJX Cos., Inc. | 41,050 | ||||||
1,539 | Walmart, Inc.1 | 187,112 | ||||||
887,179 | ||||||||
SEMICONDUCTORS — 4.2% | ||||||||
889 | Advanced Micro Devices, Inc.* | 67,982 | ||||||
286 | Analog Devices, Inc. | 41,782 | ||||||
458 | Applied Materials, Inc. | 41,669 | ||||||
171 | Broadcom, Inc. | 83,073 | ||||||
2,121 | Intel Corp. | 79,347 | ||||||
1,288 | NVIDIA Corp.1 | 195,248 | ||||||
615 | QUALCOMM, Inc. | 78,560 | ||||||
479 | Texas Instruments, Inc. | 73,598 | ||||||
661,259 | ||||||||
SOFTWARE — 7.2% | ||||||||
246 | Adobe, Inc.* | 90,051 | ||||||
658 | Fiserv, Inc.* | 58,542 | ||||||
137 | Intuit, Inc. | 52,805 | ||||||
2,908 | Microsoft Corp.1 | 746,862 | ||||||
830 | Oracle Corp. | 57,992 | ||||||
502 | Salesforce, Inc.* | 82,850 | ||||||
102 | ServiceNow, Inc.* | 48,503 | ||||||
1,137,605 |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
Number | Value | |||||||
COMMON STOCKS (Continued) | ||||||||
TELECOMMUNICATIONS — 1.5% | ||||||||
2,153 | AT&T, Inc. | $ | 45,127 | |||||
2,154 | Cisco Systems, Inc.1 | 91,847 | ||||||
212 | T-Mobile US, Inc.* | 28,522 | ||||||
1,333 | Verizon Communications, Inc. | 67,650 | ||||||
233,146 | ||||||||
TRANSPORTATION — 2.8% | ||||||||
2,178 | CSX Corp. | 63,293 | ||||||
302 | Norfolk Southern Corp. | 68,641 | ||||||
731 | Union Pacific Corp.1 | 155,908 | ||||||
852 | United Parcel Service, Inc. - Class B1 | 155,524 | ||||||
443,366 | ||||||||
VENTURE CAPITAL — 0.3% | ||||||||
562 | Blackstone, Inc. | 51,271 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $16,037,133) | 16,084,415 |
Principal | ||||||||
SHORT-TERM INVESTMENTS — 0.7% | ||||||||
$ | 102,618 | UMB Bank Demand Deposit, 0.01%3 | 102,618 | |||||
TOTAL SHORT-TERM INVESTMENTS | ||||||||
(Cost $102,618) | 102,618 | |||||||
TOTAL INVESTMENTS — 103.2% | ||||||||
(Cost $16,139,751) | 16,187,033 | |||||||
Liabilities in Excess of Other Assets — (3.2)% | (498,152 | ) | ||||||
TOTAL NET ASSETS — 100.0% | $ | 15,688,881 |
PLC | – Public Limited Company |
REIT | – Real Estate Investment Trusts |
* | Non-income producing security. |
1 | All or a portion of this security is segregated as collateral for swap agreement. As of June 30, 2022, the aggregate value of those securities was $4,242,746, representing 27.0% of net assets. |
2 | Foreign security denominated in U.S. Dollars. |
3 | The rate is the annualized seven-day yield at period end. |
AXS Thomson Reuters Private Equity Return Tracker Fund
SCHEDULE OF INVESTMENTS - Continued
As of June 30, 2022 (Unaudited)
SWAP CONTRACTS
EQUITY SWAP CONTRACTS
Counterparty | Reference Entity | Fund Pays | Fund Receives | Pay/Receive Frequency | Termination Date | Notional Amount | Premium Paid (Received) | Unrealized Appreciation (Depreciation) | ||||||||||||||
BNP Paribas | BNP Paribas Index Swap1 | 1-Month Federal Funds + 0.57% | Index Return | Monthly | 7/1/22 | $ | 17,590,791 | $ | 414 | $ | (222,759 | ) | ||||||||||
BNP Paribas | BNP Paribas Equity Basket Swap2 | 1-Month Federal Funds + 0.57% | Basket Return | Monthly | 7/1/22 | 3,283,350 | 72 | (279,993 | ) | |||||||||||||
TOTAL EQUITY SWAP CONTRACTS | $ | (502,752 | ) |
1 | The BNP Paribas Index Swap is made up of the NASDAQ 100 Total Return Index, Dow Jones Industrial Average Total Return Index, and S&P 500 Total Return Index and exposure to each index was 77.10%, (77.10)%, and 6.90%, respectively. |
2 | BNP Paribas Equity Basket Swap Top 50 Holdings^ |
Number of Shares | Description | Value | Percentage of Equity Swap's Notional Amount | |||||||||
595 | Microsoft Corp. | $ | 152,814 | 4.65 | % | |||||||
1,085 | Apple, Inc. | 148,341 | 4.52 | % | ||||||||
60 | Alphabet, Inc. - Class A | 130,756 | 3.98 | % | ||||||||
410 | Berkshire Hathaway, Inc. | 111,938 | 3.41 | % | ||||||||
110 | Tesla, Inc. | 74,076 | 2.26 | % | ||||||||
515 | Procter & Gamble Co. | 74,052 | 2.26 | % | ||||||||
485 | JPMorgan Chase & Co. | 54,616 | 1.66 | % | ||||||||
625 | Exxon Mobil Corp. | 53,525 | 1.63 | % | ||||||||
850 | Coca-Cola Co. | 53,474 | 1.63 | % | ||||||||
300 | PepsiCo, Inc. | 49,998 | 1.52 | % | ||||||||
90 | UnitedHealth Group, Inc. | 46,227 | 1.41 | % | ||||||||
255 | Johnson & Johnson | 45,265 | 1.38 | % | ||||||||
155 | Linde PLC | 44,567 | 1.36 | % | ||||||||
285 | Chevron Corp. | 41,262 | 1.26 | % | ||||||||
265 | NVIDIA Corp. | 40,171 | 1.22 | % | ||||||||
245 | Meta Platforms, Inc. | 39,506 | 1.20 | % | ||||||||
315 | Walmart, Inc. | 38,298 | 1.17 | % | ||||||||
185 | Visa, Inc. - Class A | 36,425 | 1.11 | % | ||||||||
1,150 | Bank of America Corp. | 35,800 | 1.09 | % | ||||||||
130 | Home Depot, Inc. | 35,655 | 1.09 | % | ||||||||
355 | Raytheon Technologies Corp. | 34,119 | 1.04 | % | ||||||||
150 | Union Pacific Corp. | 31,992 | 0.97 | % | ||||||||
175 | United Parcel Service, Inc. - Class B | 31,945 | 0.97 | % | ||||||||
315 | Philip Morris International, Inc. | 31,103 | 0.95 | % | ||||||||
95 | Mastercard, Inc. - Class A | 29,971 | 0.91 | % | ||||||||
555 | Pfizer, Inc. | 29,099 | 0.89 | % | ||||||||
160 | Honeywell International, Inc. | 27,810 | 0.85 | % | ||||||||
80 | S&P Global, Inc. | 26,965 | 0.82 | % | ||||||||
175 | AbbVie, Inc. | 26,803 | 0.82 | % | ||||||||
55 | Costco Wholesale Corp. | 26,360 | 0.80 | % | ||||||||
60 | Lockheed Martin Corp. | 25,798 | 0.79 | % | ||||||||
625 | Wells Fargo & Co. | 24,481 | 0.75 | % | ||||||||
75 | Eli Lilly & Co. | 24,317 | 0.74 | % | ||||||||
95 | McDonald's Corp. | 23,454 | 0.71 | % | ||||||||
570 | Comcast Corp. - Class A | 22,367 | 0.68 | % | ||||||||
125 | Caterpillar, Inc. | 22,345 | 0.68 | % | ||||||||
245 | Merck & Co., Inc. | 22,337 | 0.68 | % | ||||||||
40 | Thermo Fisher Scientific, Inc. | 21,731 | 0.66 | % | ||||||||
230 | Walt Disney Co. | 21,712 | 0.66 | % | ||||||||
75 | Accenture PLC | 20,824 | 0.63 | % | ||||||||
65 | Deere & Co. | 19,466 | 0.59 | % | ||||||||
75 | American Tower Corp. - REIT | 19,169 | 0.58 | % | ||||||||
140 | Boeing Co. | 19,141 | 0.58 | % | ||||||||
175 | Abbott Laboratories | 19,014 | 0.58 | % | ||||||||
440 | Cisco Systems, Inc. | 18,762 | 0.57 | % | ||||||||
300 | Mondelez International, Inc. | 18,627 | 0.57 | % | ||||||||
50 | Adobe, Inc. | 18,303 | 0.56 | % | ||||||||
235 | NextEra Energy, Inc. | 18,203 | 0.55 | % | ||||||||
230 | Morgan Stanley | 17,494 | 0.53 | % | ||||||||
135 | 3M Co. | 17,470 | 0.53 | % |
^ | These investments are not direct holdings of the Fund. The holdings were determined based on the absolute notional values of the positions within the underlying swap basket. |