Absolute Shares Trust NPORT-P WBI Power Factor High Dividend ETF (Mar 2024 report)

WBI Power Factor High Dividend ETF
Schedule of Investments
as of March 31, 2024 (Unaudited)
COMMON STOCKS - 98.6%	Shares		Value
Automobiles & Components - 4.8%
Ford Motor Co.		238,780	$	3,170,998
Banks - 18.5%
Associated Banc-Corp.		15,232		327,640
Citigroup, Inc.		8,734		552,338
Citizens Financial Group, Inc.		17,934		650,825
Eagle Bancorp, Inc.		11,917		279,930
Fifth Third Bancorp(a)		13,385		498,056
First Interstate BancSystem, Inc. - Class A		11,153		303,473
Fulton Financial Corp.		20,413		324,363
Hope Bancorp, Inc.		28,100		323,431
Huntington Bancshares, Inc./OH		42,785		596,851
KeyCorp		151,218		2,390,757
PNC Financial Services Group, Inc.		3,082		498,051
Provident Financial Services, Inc.		19,161		279,176
Regions Financial Corp.		31,820		669,493
Simmons First National Corp. - Class A		17,233		335,354
Synovus Financial Corp.		12,908		517,094
Truist Financial Corp.		57,481		2,240,609
US Bancorp		12,728		568,942
Valley National Bancorp(a)		33,468		266,405
Zions Bancorp NA		10,239		444,373
				12,067,161
Consumer Discretionary Distribution & Retail - 4.6%
Best Buy Co., Inc.(a)		36,872		3,024,610
Consumer Durables & Apparel - 1.0%
Leggett & Platt, Inc.(a)		34,578		662,169
Consumer Services - 3.0%
Cracker Barrel Old Country Store, Inc.(a)		13,697		996,183
Travel + Leisure Co.		20,266		992,223
				1,988,406
Energy - 15.0%
CVR Energy, Inc.(a)		24,486		873,171
Hess Midstream LP - Class A(a)		22,480		812,202
Kinder Morgan, Inc.		223,681		4,102,310
Kinetik Holdings, Inc.		22,044		878,894
ONEOK, Inc.		39,659		3,179,462
				9,846,039
Financial Services - 4.5%
Invesco Ltd.		30,153		500,238
Jackson Financial, Inc. - Class A(a)		7,796		515,627
OneMain Holdings, Inc.		10,308		526,636
Virtu Financial, Inc. - Class A		31,811		652,762
Western Union Co.		52,279		730,860
				2,926,123
Food, Beverage & Tobacco - 11.3%
Altria Group, Inc.		95,744		4,176,353
Conagra Brands, Inc.		29,668		879,360
Kraft Heinz Co.		63,519		2,343,851
				7,399,564
Insurance - 2.7%
Fidelity National Financial, Inc.(a)		8,858		470,360
Lincoln National Corp.		21,399		683,270
Prudential Financial, Inc.(a)		5,253		616,702
				1,770,332
Materials - 13.7%
Dow, Inc.(a)		53,721		3,112,057
International Paper Co.(a)		71,939		2,807,060
LyondellBasell Industries NV - Class A		30,283		3,097,346
				9,016,463
Media & Entertainment - 1.0%
Sinclair, Inc.(a)		48,694		655,908
Pharmaceuticals, Biotechnology & Life Sciences - 9.5%
Bristol-Myers Squibb Co.		20,760		1,125,815
Organon & Co.(a)		122,238		2,298,074
Pfizer, Inc.		100,597		2,791,567
				6,215,456
Technology Hardware & Equipment - 1.4%
Xerox Holdings Corp.(a)		52,000		930,800
Telecommunication Services - 6.4%
Verizon Communications, Inc.		99,434		4,172,251
Utilities - 1.2%
Clearway Energy, Inc. - Class C		34,202		788,356
TOTAL COMMON STOCKS (Cost $58,640,953)				64,634,636
SHORT-TERM INVESTMENTS - 17.4%
Investments Purchased with Proceeds from Securities Lending - 17.4%	Units
Mount Vernon Liquid Assets Portfolio, LLC(b)		11,365,426		11,365,426
TOTAL SHORT-TERM INVESTMENTS (Cost $11,365,426)				11,365,426
TOTAL INVESTMENTS - 116.0% (Cost $70,006,379)			$	76,000,062
Money Market Deposit Account - 1.5%(c)				972,818
Liabilities in Excess of Other Assets - (17.5)%				(11,471,406	)
TOTAL NET ASSETS - 100.0%			$	65,501,474
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (GICS) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poors Financial Services LLC (S&P). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

NV - Naamloze Vennootschap

(a)	All or a portion of this security is on loan as of March 31, 2024. The total market value of these securities was $11,154,754 which represented 17.0% of net assets.
(b)	The rate shown represents the 7-day effective yield as of March 31, 2024.
(c)	The U.S. Bank Money Market Deposit Account (the MMDA) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2024 was 3.27%.

WBI Power Factor High Dividend ETF
	Level 1		Level 2		Level 3	Total
Assets:
Common Stocks		64,634,636					64,634,636
Investments Purchased with Proceeds from Securities Lending(a)				11,365,426			11,365,426
Total Assets		64,634,636		11,365,426			76,000,062
Refer to the Schedule of Investments for industry classifications.

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.