WBI BullBear Global Income ETF
Schedule of Investments
March 31, 2022 (Unaudited)
Shares | Security Description | Value | ||||||
COMMON STOCKS - 54.0% | ||||||||
Banks - 5.6% | ||||||||
18,899 | Citizens Financial Group, Inc. | $ | 856,691 | |||||
15,147 | Truist Financial Corp. | 858,835 | ||||||
16,025 | US Bancorp | 851,729 | ||||||
|
| |||||||
2,567,255 | ||||||||
|
| |||||||
Consumer Durables & Apparel - 1.9% | ||||||||
59,047 | Hanesbrands, Inc. | 879,210 | ||||||
|
| |||||||
Diversified Financials - 3.9% | ||||||||
6,960 | Blackstone, Inc. | 883,503 | ||||||
31,757 | Franklin Resources, Inc. | 886,656 | ||||||
|
| |||||||
1,770,159 | ||||||||
|
| |||||||
Energy - 10.0% | ||||||||
10,378 | Chesapeake Energy Corp. | 902,886 | ||||||
32,496 | Coterra Energy, Inc. | 876,417 | ||||||
15,100 | Devon Energy Corp. | 892,863 | ||||||
11,023 | Exxon Mobil Corp. | 910,390 | ||||||
11,025 | Phillips 66 | 952,450 | ||||||
|
| |||||||
4,535,006 | ||||||||
|
| |||||||
Food & Staples Retailing - 1.9% | ||||||||
19,268 | Walgreens Boots Alliance, Inc. | 862,628 | ||||||
|
| |||||||
Food, Beverage & Tobacco - 2.0% | ||||||||
23,174 | The Kraft Heinz Co. | 912,824 | ||||||
|
| |||||||
Materials - 7.9% | ||||||||
14,238 | Dow, Inc. | 907,245 | ||||||
19,590 | International Paper Co. | 904,078 | ||||||
8,658 | LyondellBasell Industries N.V. - Class A - ADR(a) | 890,216 | ||||||
11,970 | Southern Copper Corp. | 908,523 | ||||||
|
| |||||||
3,610,062 | ||||||||
|
| |||||||
Pharmaceuticals, Biotechnology & Life Sciences - 8.0% | ||||||||
5,625 | AbbVie, Inc. | 911,869 | ||||||
3,786 | Amgen, Inc. | 915,531 | ||||||
11,240 | Merck & Company, Inc. | 922,242 | ||||||
82,196 | Viatris, Inc. | 894,292 | ||||||
|
| |||||||
3,643,934 | ||||||||
|
| |||||||
Software & Services - 3.9% | ||||||||
6,922 | International Business Machines Corp. | 899,999 | ||||||
47,710 | Western Union Co. | 894,085 | ||||||
|
| |||||||
1,794,084 | ||||||||
|
| |||||||
Telecommunication Services - 2.0% | ||||||||
38,105 | AT&T, Inc. | 900,421 | ||||||
|
| |||||||
Transportation - 2.8% | ||||||||
17,264 | ZIM Integrated Shipping Services Ltd. - ADR(a) | 1,255,265 | ||||||
|
| |||||||
Utilities - 4.1% | ||||||||
20,244 | FirstEnergy Corp. | 928,390 | ||||||
24,190 | NRG Energy, Inc. | 927,928 | ||||||
|
| |||||||
1,856,318 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS (Cost $24,809,384) | 24,587,166 | |||||||
|
|
Shares | Security Description | Value | ||||||
EXCHANGE TRADED FUNDS - 44.9% | ||||||||
434,871 | SPDR Blackstone Senior Loan ETF | 19,551,800 | ||||||
12,290 | SPDR Portfolio Long Term Treasury ETF | 464,808 | ||||||
5,801 | Vanguard Long-Term Treasury ETF | 466,400 | ||||||
|
| |||||||
TOTAL EXCHANGE TRADED FUNDS (Cost $20,437,852) | 20,483,008 | |||||||
|
| |||||||
Shares/Amount | Security Description | Value | ||||||
TOTAL INVESTMENTS - 98.9% (Cost $45,247,236) | 45,070,174 | |||||||
Assets in Excess of Other Liabilities - 1.1% | 502,283 | |||||||
|
| |||||||
NET ASSETS - 100.0% | $ | 45,572,457 | ||||||
|
|
ADR | American Depository Receipt |
(a) | Foreign issued security. Foreign concentration is as follows: Israel: 2.75%, Netherlands: 1.95%. |
The accompanying notes are an integral part of these schedules of investments.