UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22961
EA Series Trust
(Exact name of registrant as specified in charter)
(Exact name of registrant as specified in charter)
19 E. Eagle Road
Havertown, PA 19083
(Address of principal executive offices) (Zip code)
(Address of principal executive offices) (Zip code)
19 E. Eagle Road
Havertown, PA 19083
(Name and address of agent for service)
215-882-9983
Registrant’s telephone number, including area code
Date of fiscal year end: July 31, 2024
Date of reporting period: January 31, 2024
Item 1. Reports to Stockholders.
Strive U.S. Energy ETF
Strive 500 ETF
Strive U.S. Semiconductor ETF
Strive Emerging Markets Ex-China ETF
Strive 1000 Dividend Growth ETF
Strive 1000 Growth ETF
Strive 1000 Value ETF
Strive Small-Cap ETF
Strive Enhanced Income Short Maturity ETF
Strive Total Return Bond ETF
Strive FAANG 2.0 ETF
Semi-Annual Report
January 31, 2024
STRIVE ETFs
TABLE OF CONTENTS
Page | |||||
STRIVE ETFs
Strive U.S. Energy ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Energy | 94.1% | |||||||
Utilities | 5.4% | |||||||
Industrials | 0.2% | |||||||
Money Market Funds | 0.3% | |||||||
Investments Purchased with Proceeds from Securities Lending | 0.2% | |||||||
Liabilities in Excess of Other Assets1 | (0.2%) | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and liabilities in excess of other assets. |
Strive 500 ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Information Technology | 30.5%1 | |||||||
Financials | 12.7% | |||||||
Health Care | 12.7% | |||||||
Consumer Discretionary | 10.1% | |||||||
Communication Services | 9.1% | |||||||
Industrials | 8.2% | |||||||
Consumer Staples | 5.9% | |||||||
Energy | 3.8% | |||||||
Real Estate | 2.2% | |||||||
Utilities | 2.1% | |||||||
Materials | 2.0% | |||||||
Money Market Funds | 0.5% | |||||||
Investments Purchased with Proceeds from Securities Lending | 0.0% | |||||||
Other Assets in Excess of Liabilities2 | 0.2% | |||||||
Total | 100.0% |
1 | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. | |||||||
2 | Cash, cash equivalents and other assets in excess of liabilities. |
1
STRIVE ETFs
Strive U.S. Semiconductor ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Information Technology | 99.7% | |||||||
Investments Purchased with Proceeds from Securities Lending | 0.5% | |||||||
Money Market Funds | 0.3% | |||||||
Liabilities in Excess of Other Assets1 | (0.5%) | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and liabilities in excess of other assets. |
Strive Emerging Markets Ex-China ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Financials | 26.4%1 | |||||||
Information Technology | 25.2%1 | |||||||
Energy | 9.2% | |||||||
Materials | 8.5% | |||||||
Industrials | 7.8% | |||||||
Consumer Staples | 6.3% | |||||||
Communication Services | 4.9% | |||||||
Consumer Discretionary | 4.5% | |||||||
Utilities | 3.1% | |||||||
Health Care | 2.8% | |||||||
Real Estate | 1.2% | |||||||
Money Market Funds | 1.3% | |||||||
Liabilities in Excess of Other Assets2 | (1.2%) | |||||||
Total | 100.0% |
1 | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. | |||||||
2 | Cash, cash equivalents and liabilities in excess of other assets. |
1
STRIVE ETFs
Strive 1000 Dividend Growth ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Health Care | 23.8% | |||||||
Information Technology | 23.5% | |||||||
Industrials | 13.4% | |||||||
Financials | 12.5% | |||||||
Consumer Staples | 8.8% | |||||||
Consumer Discretionary | 7.0% | |||||||
Real Estate | 3.1% | |||||||
Utilities | 2.6% | |||||||
Energy | 2.6% | |||||||
Materials | 2.1% | |||||||
Communication Services | 0.1% | |||||||
Money Market Funds | 0.4% | |||||||
Other Assets in Excess of Liabilities1 | 0.1% | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and other assets in excess of liabilities. |
Strive 1000 Growth ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Information Technology | 38.9%1 | |||||||
Consumer Discretionary | 12.0% | |||||||
Health Care | 11.5% | |||||||
Communication Services | 9.7% | |||||||
Financials | 8.3% | |||||||
Industrials | 8.3% | |||||||
Consumer Staples | 4.7% | |||||||
Real Estate | 2.0% | |||||||
Materials | 1.9% | |||||||
Money Market Funds | 0.9% | |||||||
Energy | 0.7% | |||||||
Utilities | 0.5% | |||||||
Other Assets in Excess of Liabilities2 | 0.6% | |||||||
Total | 100.0% |
1 | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. | |||||||
2 | Cash, cash equivalents and other assets in excess of liabilities. |
2
STRIVE ETFs
Strive 1000 Value ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Financials | 23.2% | |||||||
Health Care | 13.9% | |||||||
Energy | 11.0% | |||||||
Industrials | 10.6% | |||||||
Consumer Staples | 8.5% | |||||||
Information Technology | 6.7% | |||||||
Utilities | 6.1% | |||||||
Communication Services | 5.9% | |||||||
Consumer Discretionary | 5.6% | |||||||
Real Estate | 3.8% | |||||||
Materials | 3.3% | |||||||
Money Market Funds | 1.2% | |||||||
Other Assets in Excess of Liabilities1 | 0.2% | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and other assets in excess of liabilities. |
Strive Small-Cap ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Financials | 18.3% | |||||||
Industrials | 17.5% | |||||||
Health Care | 13.3% | |||||||
Consumer Discretionary | 13.1% | |||||||
Information Technology | 12.3% | |||||||
Real Estate | 6.5% | |||||||
Materials | 4.7% | |||||||
Utilities | 4.1% | |||||||
Energy | 4.1% | |||||||
Consumer Staples | 3.5% | |||||||
Communication Services | 1.9% | |||||||
Investments Purchased with Proceeds from Securities Lending | 1.8% | |||||||
Money Market Funds | 0.7% | |||||||
Liabilities in Excess of Other Assets1 | (1.8%) | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and liabilities in excess of other assets. |
3
STRIVE ETFs
Strive Enhanced Income Short Maturity ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Asset-Backed Securities | 29.2% | |||||||
Collateralized Mortgage Obligations | 27.6% | |||||||
Corporate Bonds | 25.0% | |||||||
Collateralized Loan Obligations | 9.4% | |||||||
U.S. Treasury Obligations | 2.4% | |||||||
Money Market Funds | 3.5% | |||||||
U.S Treasury Bills | 5.3% | |||||||
Liabilities in Excess of Other Assets1 | (2.4%) | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and liabilities in excess of other assets. |
Strive Total Return Bond ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Mortgage-Backed Securities | 47 | % | ||||||
Asset-Backed Securities | 16.3% | |||||||
U.S. Treasury Obligations | 14.5% | |||||||
Corporate Bonds | 9.0% | |||||||
Money Market Funds | 7.7% | |||||||
Collateralized Loan Obligations | 4.9% | |||||||
Collateralized Mortgage Obligations | 4.3% | |||||||
Liabilities in Excess of Other Assets1 | (3.5%) | |||||||
Total | 100.0% |
1 | Cash, cash equivalents and liabilities in excess of other assets. |
4
STRIVE ETFs
Strive FAANG 2.0 ETF
Tabular Presentation of Schedule of Investments
As of January 31, 2024 (Unaudited)
Sector | % Net Assets | |||||||
Industrials | 32.9%1 | |||||||
Energy | 27.7%1 | |||||||
Materials | 27.3%1 | |||||||
Utilities | 10.4% | |||||||
Consumer Staples | 1.2% | |||||||
Money Market Funds | 0.5% | |||||||
Other Assets in Excess of Liabilities2 | 0.0%3 | |||||||
Total | 100.0% |
1 | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. | |||||||
2 | Cash, cash equivalents and other assets in excess of liabilities. | |||||||
3 | Represents less than 0.05% of Net Assets. |
5
STRIVE U.S. ENERGY ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.7% | Shares | Value | ||||||||||||
Construction & Engineering - 0.2% | ||||||||||||||
MDU Resources Group, Inc. | 34,164 | $ | 666,540 | |||||||||||
Electric Utilities - 2.2% | ||||||||||||||
Exelon Corp. | 176,991 | 6,161,057 | ||||||||||||
IDACORP, Inc. | 8,986 | 831,924 | ||||||||||||
6,992,981 | ||||||||||||||
Gas Utilities - 1.4% | ||||||||||||||
Atmos Energy Corp. | 26,368 | 3,004,369 | ||||||||||||
National Fuel Gas Co. | 15,761 | 743,289 | ||||||||||||
Southwest Gas Holdings, Inc. | 12,473 | 731,916 | ||||||||||||
4,479,574 | ||||||||||||||
Independent Power Producers & Energy Traders - 0.6% | ||||||||||||||
AES Corp. | 118,545 | 1,977,331 | ||||||||||||
Integrated Oil & Gas - 37.4%(a) | ||||||||||||||
Chevron Corp. | 306,936 | 45,251,574 | ||||||||||||
Exxon Mobil Corp. | 660,366 | 67,892,228 | ||||||||||||
Occidental Petroleum Corp. | 124,389 | 7,161,075 | ||||||||||||
120,304,877 | ||||||||||||||
Multi-Utilities - 0.6% | ||||||||||||||
NiSource, Inc. | 73,973 | 1,921,079 | ||||||||||||
Oil & Gas Drilling - 0.7% | ||||||||||||||
Helmerich & Payne, Inc. | 17,180 | 691,667 | ||||||||||||
Noble Corp. PLC | 19,704 | 869,537 | ||||||||||||
Transocean Ltd.(b)(c) | 121,606 | 663,969 | ||||||||||||
2,225,173 | ||||||||||||||
Oil & Gas Equipment & Services - 8.4% | ||||||||||||||
Baker Hughes Co. | 180,295 | 5,138,408 | ||||||||||||
Halliburton Co. | 160,246 | 5,712,770 | ||||||||||||
NOV, Inc. | 70,126 | 1,368,158 | ||||||||||||
Schlumberger N.V. | 253,384 | 12,339,801 | ||||||||||||
TechnipFMC PLC | 78,356 | 1,515,405 | ||||||||||||
Weatherford International PLC(b) | 12,658 | 1,133,524 | ||||||||||||
27,208,066 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
6
STRIVE U.S. ENERGY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Exploration & Production - 26.5%(a) | ||||||||||||||
Antero Resources Corp.(b) | 49,358 | $ | 1,102,658 | |||||||||||
APA Corp. | 54,968 | 1,722,147 | ||||||||||||
Chesapeake Energy Corp. | 19,846 | 1,530,325 | ||||||||||||
Chord Energy Corp. | 7,241 | 1,113,376 | ||||||||||||
Civitas Resources, Inc. | 14,543 | 942,532 | ||||||||||||
ConocoPhillips | 213,721 | 23,908,967 | ||||||||||||
Coterra Energy, Inc. | 132,811 | 3,304,338 | ||||||||||||
Devon Energy Corp. | 113,543 | 4,771,077 | ||||||||||||
Diamondback Energy, Inc. | 30,332 | 4,663,242 | ||||||||||||
EOG Resources, Inc. | 103,917 | 11,824,714 | ||||||||||||
EQT Corp. | 73,049 | 2,585,935 | ||||||||||||
Hess Corp. | 49,384 | 6,939,934 | ||||||||||||
Magnolia Oil & Gas Corp. - Class A | 31,676 | 653,159 | ||||||||||||
Marathon Oil Corp. | 109,687 | 2,506,348 | ||||||||||||
Matador Resources Co. | 19,646 | 1,078,369 | ||||||||||||
Murphy Oil Corp. | 26,125 | 1,011,038 | ||||||||||||
Ovintiv, Inc. | 42,968 | 1,822,703 | ||||||||||||
Permian Resources Corp. | 44,613 | 601,383 | ||||||||||||
Pioneer Natural Resources Co. | 41,401 | 9,515,192 | ||||||||||||
Range Resources Corp. | 42,683 | 1,239,514 | ||||||||||||
SM Energy Co. | 21,265 | 788,506 | ||||||||||||
Southwestern Energy Co.(b) | 192,727 | 1,243,089 | ||||||||||||
Viper Energy, Inc. | 11,326 | 353,598 | ||||||||||||
85,222,144 | ||||||||||||||
Oil & Gas Refining & Marketing - 10.6% | ||||||||||||||
HF Sinclair Corp. | 24,321 | 1,373,893 | ||||||||||||
Marathon Petroleum Corp. | 71,151 | 11,782,606 | ||||||||||||
PBF Energy, Inc. - Class A | 19,908 | 1,005,553 | ||||||||||||
Phillips 66 | 79,169 | 11,424,878 | ||||||||||||
Valero Energy Corp. | 62,656 | 8,702,918 | ||||||||||||
34,289,848 | ||||||||||||||
Oil & Gas Storage & Transportation - 10.5% | ||||||||||||||
Antero Midstream Corp. | 60,010 | 734,522 | ||||||||||||
Cheniere Energy, Inc. | 42,809 | 7,020,248 | ||||||||||||
DT Midstream, Inc. | 17,385 | 933,401 | ||||||||||||
EnLink Midstream LLC | 44,323 | 534,536 | ||||||||||||
Hess Midstream LP - Class A | 9,756 | 329,850 | ||||||||||||
Kinder Morgan, Inc. | 349,119 | 5,907,093 | ||||||||||||
New Fortress Energy, Inc.(c) | 14,733 | 489,578 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
7
STRIVE U.S. ENERGY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.7% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Storage & Transportation - 10.5% (Continued) | ||||||||||||||
ONEOK, Inc. | 103,626 | $ | 7,072,475 | |||||||||||
Targa Resources Corp. | 39,563 | 3,361,272 | ||||||||||||
Williams Cos., Inc. | 216,610 | 7,507,703 | ||||||||||||
33,890,678 | ||||||||||||||
Renewable Electricity - 0.6% | ||||||||||||||
Brookfield Renewable Corp. - Class A | 32,163 | 897,991 | ||||||||||||
Clearway Energy, Inc. - Class A | 5,336 | 119,847 | ||||||||||||
Clearway Energy, Inc. - Class C | 14,733 | 357,127 | ||||||||||||
NextEra Energy Partners LP | 16,521 | 493,152 | ||||||||||||
1,868,117 | ||||||||||||||
TOTAL COMMON STOCKS (Cost $320,804,623) | 321,046,408 | |||||||||||||
SHORT-TERM INVESTMENTS - 0.5% | ||||||||||||||
Investments Purchased with Proceeds from Securities Lending - 0.2% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 781,359 | 781,359 | ||||||||||||
Money Market Funds - 0.3% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 881,212 | 881,212 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,662,571) | 1,662,571 | |||||||||||||
TOTAL INVESTMENTS - 100.2% (Cost $322,467,194) | $ | 322,708,979 | ||||||||||||
Liabilities in Excess of Other Assets - (0.2)% | (558,188) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 322,150,791 | ||||||||||||
Percentages are stated as a percent of net assets.
PLC - Public Limited Company |
(a) | To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors. | |||||||
(b) | Non-income producing security. | |||||||
(c) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $727,167 which represented 0.2% of net assets. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
8
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% | Shares | Value | ||||||||||||
Advertising - 0.1% | ||||||||||||||
Omnicom Group, Inc. | 1,818 | $ | 164,311 | |||||||||||
Trade Desk, Inc. - Class A(a) | 4,321 | 295,686 | ||||||||||||
459,997 | ||||||||||||||
Aerospace & Defense - 1.5% | ||||||||||||||
Boeing Co.(a) | 6,115 | 1,290,510 | ||||||||||||
General Dynamics Corp. | 2,407 | 637,831 | ||||||||||||
HEICO Corp. - Class A | 747 | 105,678 | ||||||||||||
HEICO Corp. | 329 | 59,085 | ||||||||||||
Howmet Aerospace, Inc. | 4,032 | 226,840 | ||||||||||||
L3Harris Technologies, Inc. | 1,899 | 395,790 | ||||||||||||
Lockheed Martin Corp. | 2,494 | 1,070,949 | ||||||||||||
Northrop Grumman Corp. | 1,386 | 619,209 | ||||||||||||
RTX Corp. | 14,652 | 1,335,089 | ||||||||||||
TransDigm Group, Inc. | 526 | 574,750 | ||||||||||||
6,315,731 | ||||||||||||||
Agricultural & Farm Machinery - 0.3% | ||||||||||||||
Deere & Co. | 2,692 | 1,059,517 | ||||||||||||
Agricultural Products & Services - 0.1% | ||||||||||||||
Archer-Daniels-Midland Co. | 5,342 | 296,908 | ||||||||||||
Air Freight & Logistics - 0.4% | ||||||||||||||
Expeditors International of Washington, Inc. | 1,559 | 196,948 | ||||||||||||
FedEx Corp. | 2,295 | 553,761 | ||||||||||||
United Parcel Service, Inc. - Class B | 7,323 | 1,039,134 | ||||||||||||
1,789,843 | ||||||||||||||
Apparel Retail - 0.4% | ||||||||||||||
Ross Stores, Inc. | 3,214 | 450,860 | ||||||||||||
TJX Cos., Inc. | 11,367 | 1,078,842 | ||||||||||||
1,529,702 | ||||||||||||||
Apparel, Accessories & Luxury Goods - 0.1% | ||||||||||||||
Lululemon Athletica, Inc.(a) | 1,137 | 515,993 | ||||||||||||
Application Software - 3.2% | ||||||||||||||
Adobe, Inc.(a) | 4,597 | 2,839,935 | ||||||||||||
ANSYS, Inc.(a) | 860 | 281,934 | ||||||||||||
Atlassian Corp. - Class A(a) | 1,549 | 386,894 | ||||||||||||
Autodesk, Inc.(a) | 2,148 | 545,184 | ||||||||||||
Bentley Systems, Inc. - Class B | 2,013 | 101,455 |
The accompanying notes are an integral part of these financial statements.
9
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Application Software - 3.2% (Continued) | ||||||||||||||
Cadence Design Systems, Inc.(a) | 2,696 | $ | 777,688 | |||||||||||
Datadog, Inc. - Class A(a) | 2,795 | 347,810 | ||||||||||||
Fair Isaac Corp.(a) | 232 | 278,129 | ||||||||||||
HubSpot, Inc.(a) | 477 | 291,447 | ||||||||||||
Intuit, Inc. | 2,764 | 1,744,996 | ||||||||||||
Palantir Technologies, Inc. - Class A(a) | 19,247 | 309,684 | ||||||||||||
Roper Technologies, Inc. | 1,057 | 567,609 | ||||||||||||
Salesforce, Inc.(a) | 9,541 | 2,681,880 | ||||||||||||
Splunk, Inc.(a) | 1,559 | 239,104 | ||||||||||||
Synopsys, Inc.(a) | 1,529 | 815,492 | ||||||||||||
Tyler Technologies, Inc.(a) | 416 | 175,864 | ||||||||||||
Unity Software, Inc.(a) | 2,623 | 84,985 | ||||||||||||
Workday, Inc. - Class A(a) | 2,049 | 596,402 | ||||||||||||
Zoom Video Communications, Inc. - Class A(a) | 2,309 | 149,184 | ||||||||||||
13,215,676 | ||||||||||||||
Asset Management & Custody Banks - 1.0% | ||||||||||||||
Ameriprise Financial, Inc. | 1,019 | 394,180 | ||||||||||||
Ares Management Corp. - Class A | 1,662 | 201,900 | ||||||||||||
Bank of New York Mellon Corp. | 7,598 | 421,385 | ||||||||||||
BlackRock, Inc. | 1,398 | 1,082,486 | ||||||||||||
Blackstone, Inc. | 7,123 | 886,457 | ||||||||||||
Blue Owl Capital, Inc. - Class A | 4,223 | 65,625 | ||||||||||||
Franklin Resources, Inc. | 2,891 | 76,987 | ||||||||||||
KKR & Co., Inc. | 6,493 | 562,164 | ||||||||||||
Northern Trust Corp. | 1,923 | 153,148 | ||||||||||||
State Street Corp. | 3,083 | 227,741 | ||||||||||||
T Rowe Price Group, Inc. | 2,062 | 223,624 | ||||||||||||
4,295,697 | ||||||||||||||
Automobile Manufacturers - 1.6% | ||||||||||||||
Ford Motor Co. | 38,855 | 455,381 | ||||||||||||
General Motors Co. | 13,594 | 527,447 | ||||||||||||
Lucid Group, Inc.(a)(b) | 7,286 | 24,627 | ||||||||||||
Rivian Automotive, Inc. - Class A(a) | 6,374 | 97,586 | ||||||||||||
Stellantis N.V. | 21,430 | 470,603 | ||||||||||||
Tesla, Inc.(a) | 28,052 | 5,253,859 | ||||||||||||
6,829,503 | ||||||||||||||
Automotive Parts & Equipment - 0.1% | ||||||||||||||
Aptiv PLC(a) | 2,766 | 224,959 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
10
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Automotive Retail - 0.3% | ||||||||||||||
AutoZone, Inc.(a) | 175 | $ | 483,373 | |||||||||||
O'Reilly Automotive, Inc.(a) | 594 | 607,691 | ||||||||||||
1,091,064 | ||||||||||||||
Biotechnology - 2.1% | ||||||||||||||
AbbVie, Inc. | 17,874 | 2,938,486 | ||||||||||||
Alnylam Pharmaceuticals, Inc.(a) | 1,240 | 214,408 | ||||||||||||
Amgen, Inc. | 5,415 | 1,701,718 | ||||||||||||
Biogen, Inc.(a) | 1,464 | 361,110 | ||||||||||||
BioMarin Pharmaceutical, Inc.(a) | 1,786 | 157,311 | ||||||||||||
Gilead Sciences, Inc. | 12,621 | 987,719 | ||||||||||||
Incyte Corp.(a) | 1,786 | 104,963 | ||||||||||||
Moderna, Inc.(a) | 3,374 | 340,943 | ||||||||||||
Regeneron Pharmaceuticals, Inc.(a) | 1,029 | 970,121 | ||||||||||||
Vertex Pharmaceuticals, Inc.(a) | 2,539 | 1,100,352 | ||||||||||||
8,877,131 | ||||||||||||||
Broadcasting - 0.0%(c) | ||||||||||||||
Fox Corp. - Class A | 2,909 | 93,961 | ||||||||||||
Fox Corp. - Class B | 1,332 | 39,973 | ||||||||||||
133,934 | ||||||||||||||
Broadline Retail - 3.5% | ||||||||||||||
Amazon.com, Inc.(a) | 91,769 | 14,242,549 | ||||||||||||
eBay, Inc. | 5,555 | 228,144 | ||||||||||||
Etsy, Inc.(a) | 1,215 | 80,870 | ||||||||||||
14,551,563 | ||||||||||||||
Building Products - 0.4% | ||||||||||||||
Builders FirstSource, Inc.(a) | 1,160 | 201,527 | ||||||||||||
Carrier Global Corp. | 8,219 | 449,661 | ||||||||||||
Johnson Controls International PLC | 6,887 | 362,876 | ||||||||||||
Masco Corp. | 2,255 | 151,739 | ||||||||||||
Trane Technologies PLC | 2,291 | 577,447 | ||||||||||||
1,743,250 | ||||||||||||||
Cable & Satellite - 0.6% | ||||||||||||||
Charter Communications, Inc. - Class A(a) | 947 | 351,062 | ||||||||||||
Comcast Corp. - Class A | 41,017 | 1,908,931 | ||||||||||||
Liberty Broadband Corp. - Class A(a) | 162 | 12,607 | ||||||||||||
Liberty Broadband Corp. - Class C(a) | 1,177 | 92,336 | ||||||||||||
Sirius XM Holdings, Inc. | 6,673 | 33,966 | ||||||||||||
2,398,902 |
The accompanying notes are an integral part of these financial statements.
11
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Cargo Ground Transportation - 0.1% | ||||||||||||||
JB Hunt Transport Services, Inc. | 788 | $ | 158,372 | |||||||||||
Old Dominion Freight Line, Inc. | 952 | 372,251 | ||||||||||||
530,623 | ||||||||||||||
Casinos & Gaming - 0.1% | ||||||||||||||
Las Vegas Sands Corp. | 3,118 | 152,533 | ||||||||||||
MGM Resorts International(a) | 2,925 | 126,857 | ||||||||||||
279,390 | ||||||||||||||
Commercial & Residential Mortgage Finance - 0.0%(c) | ||||||||||||||
Rocket Cos., Inc. - Class A(a) | 908 | 11,177 | ||||||||||||
Commodity Chemicals - 0.2% | ||||||||||||||
Dow, Inc. | 6,904 | 370,054 | ||||||||||||
LyondellBasell Industries N.V. - Class A | 2,693 | 253,465 | ||||||||||||
623,519 | ||||||||||||||
Communications Equipment - 0.7% | ||||||||||||||
Arista Networks, Inc.(a) | 2,413 | 624,195 | ||||||||||||
Cisco Systems, Inc. | 37,592 | 1,886,366 | ||||||||||||
Motorola Solutions, Inc. | 1,644 | 525,258 | ||||||||||||
3,035,819 | ||||||||||||||
Computer & Electronics Retail - 0.0%(c) | ||||||||||||||
Best Buy Co., Inc. | 1,813 | 131,424 | ||||||||||||
Construction & Engineering - 0.1% | ||||||||||||||
Quanta Services, Inc. | 1,399 | 271,476 | ||||||||||||
Construction Machinery & Heavy Transportation Equipment - 0.6% | ||||||||||||||
Caterpillar, Inc. | 5,139 | 1,543,293 | ||||||||||||
PACCAR, Inc. | 5,187 | 520,723 | ||||||||||||
Westinghouse Air Brake Technologies Corp. | 1,678 | 220,774 | ||||||||||||
2,284,790 | ||||||||||||||
Construction Machinery & Heavy Trucks - 0.1% | ||||||||||||||
Cummins, Inc. | 1,387 | 331,909 | ||||||||||||
Construction Materials - 0.1% | ||||||||||||||
Martin Marietta Materials, Inc. | 611 | 310,645 | ||||||||||||
Vulcan Materials Co. | 1,332 | 301,045 | ||||||||||||
611,690 |
The accompanying notes are an integral part of these financial statements.
12
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Consumer Electronics - 0.0%(c) | ||||||||||||||
Garmin Ltd. | 1,559 | $ | 186,285 | |||||||||||
Consumer Finance - 0.5% | ||||||||||||||
American Express Co. | 5,358 | 1,075,565 | ||||||||||||
Capital One Financial Corp. | 3,750 | 507,450 | ||||||||||||
Discover Financial Services | 2,329 | 245,756 | ||||||||||||
Synchrony Financial | 4,226 | 164,265 | ||||||||||||
1,993,036 | ||||||||||||||
Consumer Staples Merchandise Retail - 1.6% | ||||||||||||||
Costco Wholesale Corp. | 4,472 | 3,107,503 | ||||||||||||
Dollar General Corp. | 2,204 | 291,082 | ||||||||||||
Dollar Tree, Inc.(a) | 2,096 | 273,780 | ||||||||||||
Target Corp. | 4,621 | 642,689 | ||||||||||||
Walmart, Inc. | 14,483 | 2,393,316 | ||||||||||||
6,708,370 | ||||||||||||||
Copper - 0.1% | ||||||||||||||
Freeport-McMoRan, Inc. | 14,001 | 555,700 | ||||||||||||
Data Processing & Outsourced Services - 0.1% | ||||||||||||||
Broadridge Financial Solutions, Inc. | 1,162 | 237,281 | ||||||||||||
SS&C Technologies Holdings, Inc. | 2,013 | 122,833 | ||||||||||||
360,114 | ||||||||||||||
Distillers & Vintners - 0.1% | ||||||||||||||
Brown-Forman Corp. - Class A | 394 | 22,210 | ||||||||||||
Brown-Forman Corp. - Class B | 2,891 | 158,716 | ||||||||||||
Constellation Brands, Inc. - Class A | 1,626 | 398,500 | ||||||||||||
579,426 | ||||||||||||||
Distributors - 0.0%(c) | ||||||||||||||
Genuine Parts Co. | 1,332 | 186,786 | ||||||||||||
Diversified Banks - 2.9% | ||||||||||||||
Bank of America Corp. | 69,316 | 2,357,437 | ||||||||||||
Citigroup, Inc. | 18,881 | 1,060,546 | ||||||||||||
Fifth Third Bancorp | 6,660 | 228,038 | ||||||||||||
First Citizens BancShares, Inc. - Class A | 104 | 157,040 | ||||||||||||
JPMorgan Chase & Co. | 29,115 | 5,076,492 |
The accompanying notes are an integral part of these financial statements.
13
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Diversified Banks - 2.9% (Continued) | ||||||||||||||
PNC Financial Services Group, Inc. | 3,996 | $ | 604,235 | |||||||||||
U.S. Bancorp | 15,443 | 641,502 | ||||||||||||
Wells Fargo & Co. | 36,846 | 1,848,932 | ||||||||||||
11,974,222 | ||||||||||||||
Diversified Financial Services - 0.1% | ||||||||||||||
Apollo Global Management, Inc. | 4,085 | 410,134 | ||||||||||||
Corebridge Financial, Inc. | 1,575 | 38,068 | ||||||||||||
448,202 | ||||||||||||||
Diversified Support Services - 0.2% | ||||||||||||||
Cintas Corp. | 851 | 514,489 | ||||||||||||
Copart, Inc.(a) | 8,793 | 422,416 | ||||||||||||
936,905 | ||||||||||||||
Drug Retail - 0.0%(c) | ||||||||||||||
Walgreens Boots Alliance, Inc. | 6,887 | 155,440 | ||||||||||||
Electric Utilities - 1.4% | ||||||||||||||
Alliant Energy Corp. | 2,240 | 108,998 | ||||||||||||
American Electric Power Co., Inc. | 5,048 | 394,451 | ||||||||||||
Avangrid, Inc. | 500 | 15,190 | ||||||||||||
Constellation Energy Corp. | 3,118 | 380,396 | ||||||||||||
Duke Energy Corp. | 7,787 | 746,228 | ||||||||||||
Edison International | 3,572 | 241,039 | ||||||||||||
Entergy Corp. | 2,121 | 211,591 | ||||||||||||
Evergy, Inc. | 2,037 | 103,418 | ||||||||||||
Eversource Energy | 3,345 | 181,366 | ||||||||||||
Exelon Corp. | 9,831 | 342,217 | ||||||||||||
FirstEnergy Corp. | 5,328 | 195,431 | ||||||||||||
NextEra Energy, Inc. | 20,230 | 1,186,084 | ||||||||||||
PG&E Corp. | 20,910 | 352,752 | ||||||||||||
PPL Corp. | 7,114 | 186,387 | ||||||||||||
Southern Co. | 10,951 | 761,314 | ||||||||||||
Xcel Energy, Inc. | 5,710 | 341,858 | ||||||||||||
5,748,720 | ||||||||||||||
Electrical Components & Equipment - 0.5% | ||||||||||||||
AMETEK, Inc. | 2,312 | 374,660 | ||||||||||||
Eaton Corp. PLC | 3,996 | 983,336 | ||||||||||||
Emerson Electric Co. | 5,626 | 516,072 |
The accompanying notes are an integral part of these financial statements.
14
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Electrical Components & Equipment - 0.5% (Continued) | ||||||||||||||
Hubbell, Inc. | 519 | $ | 174,161 | |||||||||||
Rockwell Automation, Inc. | 1,142 | 289,246 | ||||||||||||
2,337,475 | ||||||||||||||
Electronic Components - 0.2% | ||||||||||||||
Amphenol Corp. - Class A | 6,003 | 606,903 | ||||||||||||
Corning, Inc. | 7,495 | 243,513 | ||||||||||||
850,416 | ||||||||||||||
Electronic Equipment & Instruments - 0.2% | ||||||||||||||
Keysight Technologies, Inc.(a) | 1,677 | 257,016 | ||||||||||||
Teledyne Technologies, Inc.(a) | 461 | 192,915 | ||||||||||||
Trimble, Inc.(a) | 2,300 | 116,978 | ||||||||||||
Zebra Technologies Corp. - Class A(a) | 454 | 108,756 | ||||||||||||
675,665 | ||||||||||||||
Electronic Manufacturing Services - 0.1% | ||||||||||||||
TE Connectivity Ltd. | 3,118 | 443,348 | ||||||||||||
Environmental & Facilities Services - 0.3% | ||||||||||||||
Republic Services, Inc. | 2,013 | 344,465 | ||||||||||||
Rollins, Inc. | 3,036 | 131,489 | ||||||||||||
Veralto Corp. | 2,328 | 178,534 | ||||||||||||
Waste Management, Inc. | 4,027 | 747,532 | ||||||||||||
1,402,020 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.2% | ||||||||||||||
CF Industries Holdings, Inc. | 1,809 | 136,598 | ||||||||||||
Corteva, Inc. | 7,114 | 323,544 | ||||||||||||
FMC Corp. | 1,234 | 69,351 | ||||||||||||
Mosaic Co. | 3,345 | 102,725 | ||||||||||||
632,218 | ||||||||||||||
Financial Exchanges & Data - 1.1% | ||||||||||||||
CME Group, Inc. | 3,603 | 741,642 | ||||||||||||
Coinbase Global, Inc. - Class A(a) | 1,655 | 212,171 | ||||||||||||
FactSet Research Systems, Inc. | 379 | 180,374 | ||||||||||||
Intercontinental Exchange, Inc. | 5,976 | 760,924 | ||||||||||||
Moody's Corp. | 1,559 | 611,190 | ||||||||||||
MSCI, Inc. | 763 | 456,747 | ||||||||||||
Nasdaq, Inc. | 4,040 | 233,391 |
The accompanying notes are an integral part of these financial statements.
15
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Financial Exchanges & Data - 1.1% (Continued) | ||||||||||||||
S&P Global, Inc. | 3,212 | $ | 1,440,100 | |||||||||||
Tradeweb Markets, Inc. - Class A | 1,133 | 108,077 | ||||||||||||
4,744,616 | ||||||||||||||
Food Distributors - 0.1% | ||||||||||||||
Sysco Corp. | 4,904 | 396,881 | ||||||||||||
Food Retail - 0.1% | ||||||||||||||
Kroger Co. | 6,959 | 321,088 | ||||||||||||
Footwear - 0.3% | ||||||||||||||
Nike, Inc. - Class B | 12,167 | 1,235,316 | ||||||||||||
Gas Utilities - 0.0%(c) | ||||||||||||||
Atmos Energy Corp. | 1,439 | 163,960 | ||||||||||||
Gold - 0.1% | ||||||||||||||
Newmont Corp. | 8,335 | 287,641 | ||||||||||||
Health Care Distributors - 0.3% | ||||||||||||||
Cardinal Health, Inc. | 2,280 | 248,953 | ||||||||||||
Cencora, Inc. | 1,716 | 399,279 | ||||||||||||
McKesson Corp. | 1,347 | 673,352 | ||||||||||||
1,321,584 | ||||||||||||||
Health Care Equipment - 2.5% | ||||||||||||||
Abbott Laboratories | 17,419 | 1,970,960 | ||||||||||||
Baxter International, Inc. | 4,904 | 189,736 | ||||||||||||
Becton Dickinson & Co. | 2,978 | 711,176 | ||||||||||||
Boston Scientific Corp.(a) | 14,823 | 937,703 | ||||||||||||
Dexcom, Inc.(a) | 4,035 | 489,647 | ||||||||||||
Edwards Lifesciences Corp.(a) | 6,009 | 471,526 | ||||||||||||
GE HealthCare Technologies, Inc. | 3,953 | 289,992 | ||||||||||||
Hologic, Inc.(a) | 2,240 | 166,746 | ||||||||||||
IDEXX Laboratories, Inc.(a) | 838 | 431,637 | ||||||||||||
Insulet Corp.(a) | 692 | 132,082 | ||||||||||||
Intuitive Surgical, Inc.(a) | 3,538 | 1,338,142 | ||||||||||||
Medtronic PLC | 13,565 | 1,187,480 | ||||||||||||
ResMed, Inc. | 1,385 | 263,427 | ||||||||||||
STERIS PLC | 980 | 214,571 |
The accompanying notes are an integral part of these financial statements.
16
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Health Care Equipment - 2.5% (Continued) | ||||||||||||||
Stryker Corp. | 3,437 | $ | 1,153,045 | |||||||||||
Teleflex, Inc. | 467 | 113,402 | ||||||||||||
Zimmer Biomet Holdings, Inc. | 2,013 | 252,833 | ||||||||||||
10,314,105 | ||||||||||||||
Health Care Facilities - 0.1% | ||||||||||||||
HCA Healthcare, Inc. | 2,018 | 615,288 | ||||||||||||
Health Care Services - 0.5% | ||||||||||||||
Cigna Group | 2,923 | 879,677 | ||||||||||||
CVS Health Corp. | 12,986 | 965,769 | ||||||||||||
Laboratory Corp. of America Holdings | 960 | 213,408 | ||||||||||||
Quest Diagnostics, Inc. | 1,110 | 142,557 | ||||||||||||
2,201,411 | ||||||||||||||
Health Care Supplies - 0.1% | ||||||||||||||
Align Technology, Inc.(a) | 711 | 190,064 | ||||||||||||
Cooper Cos., Inc. | 490 | 182,785 | ||||||||||||
372,849 | ||||||||||||||
Home Improvement Retail - 1.2% | ||||||||||||||
Home Depot, Inc. | 10,107 | 3,567,366 | ||||||||||||
Lowe's Cos., Inc. | 5,846 | 1,244,263 | ||||||||||||
4,811,629 | ||||||||||||||
Homebuilding - 0.3% | ||||||||||||||
DR Horton, Inc. | 2,975 | 425,157 | ||||||||||||
Lennar Corp. - Class A | 2,410 | 361,139 | ||||||||||||
Lennar Corp. - Class B | 39 | 5,411 | ||||||||||||
NVR, Inc.(a) | 33 | 233,485 | ||||||||||||
PulteGroup, Inc. | 1,984 | 207,447 | ||||||||||||
1,232,639 | ||||||||||||||
Hotels, Resorts & Cruise Lines - 0.9% | ||||||||||||||
Airbnb, Inc. - Class A(a) | 3,793 | 546,723 | ||||||||||||
Booking Holdings, Inc.(a) | 354 | 1,241,645 | ||||||||||||
Carnival Corp.(a) | 10,762 | 178,434 | ||||||||||||
Expedia Group, Inc.(a) | 1,370 | 203,212 | ||||||||||||
Hilton Worldwide Holdings, Inc. | 2,664 | 508,717 | ||||||||||||
Marriott International, Inc. - Class A | 2,612 | 626,175 | ||||||||||||
Royal Caribbean Cruises Ltd.(a) | 2,337 | 297,967 | ||||||||||||
3,602,873 |
The accompanying notes are an integral part of these financial statements.
17
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Household Products - 1.3% | ||||||||||||||
Church & Dwight Co., Inc. | 2,470 | $ | 246,630 | |||||||||||
Clorox Co. | 1,229 | 178,512 | ||||||||||||
Colgate-Palmolive Co. | 8,219 | 692,040 | ||||||||||||
Kimberly-Clark Corp. | 3,410 | 412,508 | ||||||||||||
Procter & Gamble Co. | 23,867 | 3,750,460 | ||||||||||||
5,280,150 | ||||||||||||||
Human Resource & Employment Services - 0.4% | ||||||||||||||
Automatic Data Processing, Inc. | 4,085 | 1,004,011 | ||||||||||||
Paychex, Inc. | 3,118 | 379,554 | ||||||||||||
Paycom Software, Inc. | 487 | 92,647 | ||||||||||||
1,476,212 | ||||||||||||||
Independent Power Producers & Energy Traders - 0.0%(c) | ||||||||||||||
AES Corp. | 6,626 | 110,522 | ||||||||||||
Industrial Conglomerates - 0.8% | ||||||||||||||
3M Co. | 5,470 | 516,095 | ||||||||||||
General Electric Co. | 10,938 | 1,448,409 | ||||||||||||
Honeywell International, Inc. | 6,660 | 1,347,052 | ||||||||||||
3,311,556 | ||||||||||||||
Industrial Gases - 0.6% | ||||||||||||||
Air Products and Chemicals, Inc. | 2,191 | 560,261 | ||||||||||||
Linde PLC | 4,887 | 1,978,404 | ||||||||||||
2,538,665 | ||||||||||||||
Industrial Machinery & Supplies & Components - 0.7% | ||||||||||||||
Dover Corp. | 1,350 | 202,203 | ||||||||||||
Fortive Corp. | 3,345 | 261,512 | ||||||||||||
IDEX Corp. | 820 | 173,430 | ||||||||||||
Illinois Tool Works, Inc. | 2,911 | 759,479 | ||||||||||||
Ingersoll Rand, Inc. | 3,996 | 319,121 | ||||||||||||
Otis Worldwide Corp. | 4,087 | 361,454 | ||||||||||||
Parker-Hannifin Corp. | 1,229 | 570,871 | ||||||||||||
Stanley Black & Decker, Inc. | 1,453 | 135,565 | ||||||||||||
Symbotic, Inc.(a)(b) | 252 | 10,844 | ||||||||||||
Xylem, Inc. | 2,414 | 271,430 | ||||||||||||
3,065,909 |
The accompanying notes are an integral part of these financial statements.
18
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Insurance Brokers - 0.6% | ||||||||||||||
Aon PLC - Class A | 1,937 | $ | 578,059 | |||||||||||
Arthur J. Gallagher & Co. | 2,146 | 498,215 | ||||||||||||
Brown & Brown, Inc. | 2,240 | 173,734 | ||||||||||||
Marsh & McLennan Cos., Inc. | 4,974 | 964,161 | ||||||||||||
Willis Towers Watson PLC | 1,039 | 255,906 | ||||||||||||
2,470,075 | ||||||||||||||
Integrated Oil & Gas - 1.7% | ||||||||||||||
Chevron Corp. | 17,682 | 2,606,857 | ||||||||||||
Exxon Mobil Corp. | 40,445 | 4,158,151 | ||||||||||||
Occidental Petroleum Corp. | 6,949 | 400,054 | ||||||||||||
7,165,062 | ||||||||||||||
Integrated Telecommunication Services - 0.7% | ||||||||||||||
AT&T, Inc. | 72,468 | 1,281,959 | ||||||||||||
Verizon Communications, Inc. | 39,237 | 1,661,687 | ||||||||||||
2,943,646 | ||||||||||||||
Interactive Home Entertainment - 0.2% | ||||||||||||||
Electronic Arts, Inc. | 2,701 | 371,604 | ||||||||||||
Roblox Corp. - Class A(a) | 4,543 | 176,314 | ||||||||||||
Take-Two Interactive Software, Inc.(a) | 1,610 | 265,537 | ||||||||||||
813,455 | ||||||||||||||
Interactive Media & Services - 6.0% | ||||||||||||||
Alphabet, Inc. - Class A(a) | 59,452 | 8,329,225 | ||||||||||||
Alphabet, Inc. - Class C(a) | 49,555 | 7,026,899 | ||||||||||||
Match Group, Inc.(a) | 2,804 | 107,618 | ||||||||||||
Meta Platforms, Inc. - Class A(a) | 22,492 | 8,775,029 | ||||||||||||
Pinterest, Inc. - Class A(a) | 5,555 | 208,146 | ||||||||||||
Snap, Inc. - Class A(a) | 10,005 | 158,979 | ||||||||||||
24,605,896 | ||||||||||||||
Internet Services & Infrastructure - 0.4% | ||||||||||||||
Akamai Technologies, Inc.(a) | 1,394 | 171,783 | ||||||||||||
Cloudflare, Inc. - Class A(a) | 2,685 | 212,249 | ||||||||||||
MongoDB, Inc.(a) | 684 | 273,956 | ||||||||||||
Okta, Inc.(a) | 1,589 | 131,331 | ||||||||||||
Snowflake, Inc. - Class A(a) | 2,819 | 551,509 | ||||||||||||
VeriSign, Inc.(a) | 889 | 176,804 | ||||||||||||
1,517,632 |
The accompanying notes are an integral part of these financial statements.
19
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Investment Banking & Brokerage - 0.9% | ||||||||||||||
Charles Schwab Corp. | 14,507 | $ | 912,780 | |||||||||||
Goldman Sachs Group, Inc. | 3,315 | 1,272,994 | ||||||||||||
Interactive Brokers Group, Inc. - Class A | 1,019 | 90,436 | ||||||||||||
LPL Financial Holdings, Inc. | 681 | 162,888 | ||||||||||||
Morgan Stanley | 12,744 | 1,111,787 | ||||||||||||
Raymond James Financial, Inc. | 1,786 | 196,781 | ||||||||||||
3,747,666 | ||||||||||||||
IT Consulting & Other Services - 1.3% | ||||||||||||||
Accenture PLC - Class A | 6,738 | 2,451,824 | ||||||||||||
Cognizant Technology Solutions Corp. - Class A | 4,904 | 378,196 | ||||||||||||
EPAM Systems, Inc.(a) | 589 | 163,807 | ||||||||||||
Gartner, Inc.(a) | 762 | 348,569 | ||||||||||||
International Business Machines Corp. | 9,211 | 1,691,693 | ||||||||||||
5,034,089 | ||||||||||||||
Life & Health Insurance - 0.4% | ||||||||||||||
Aflac, Inc. | 5,958 | 502,497 | ||||||||||||
MetLife, Inc. | 5,830 | 404,136 | ||||||||||||
Principal Financial Group, Inc. | 2,240 | 177,184 | ||||||||||||
Prudential Financial, Inc. | 3,572 | 374,810 | ||||||||||||
1,458,627 | ||||||||||||||
Life Sciences Tools & Services - 1.5% | ||||||||||||||
Agilent Technologies, Inc. | 2,891 | 376,119 | ||||||||||||
Avantor, Inc.(a) | 6,009 | 138,147 | ||||||||||||
Bio-Rad Laboratories, Inc. - Class A(a) | 197 | 63,215 | ||||||||||||
Danaher Corp. | 6,848 | 1,642,903 | ||||||||||||
ICON PLC(a) | 812 | 211,826 | ||||||||||||
Illumina, Inc.(a) | 1,559 | 222,953 | ||||||||||||
IQVIA Holdings, Inc.(a) | 1,722 | 358,572 | ||||||||||||
Mettler-Toledo International, Inc.(a) | 204 | 244,227 | ||||||||||||
Revvity, Inc. | 1,231 | 131,939 | ||||||||||||
Thermo Fisher Scientific, Inc. | 3,869 | 2,085,313 | ||||||||||||
Waters Corp.(a) | 587 | 186,496 | ||||||||||||
West Pharmaceutical Services, Inc. | 696 | 259,629 | ||||||||||||
5,921,339 | ||||||||||||||
Managed Health Care - 1.7% | ||||||||||||||
Centene Corp.(a) | 5,555 | 418,347 | ||||||||||||
Elevance Health, Inc. | 2,357 | 1,163,038 |
The accompanying notes are an integral part of these financial statements.
20
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Managed Health Care - 1.7% (Continued) | ||||||||||||||
Humana, Inc. | 1,219 | $ | 460,855 | |||||||||||
Molina Healthcare, Inc.(a) | 574 | 204,597 | ||||||||||||
UnitedHealth Group, Inc. | 9,394 | 4,807,285 | ||||||||||||
7,054,122 | ||||||||||||||
Metal, Glass & Plastic Containers - 0.0%(c) | ||||||||||||||
Ball Corp. | 3,118 | 172,893 | ||||||||||||
Movies & Entertainment - 1.3% | ||||||||||||||
Liberty Media Corp.-Liberty Formula One - Class A(a) | 235 | 14,356 | ||||||||||||
Liberty Media Corp.-Liberty Formula One - Class C(a) | 2,059 | 138,468 | ||||||||||||
Live Nation Entertainment, Inc.(a) | 1,417 | 125,900 | ||||||||||||
Netflix, Inc.(a) | 4,371 | 2,465,725 | ||||||||||||
Spotify Technology S.A.(a) | 1,104 | 237,746 | ||||||||||||
Walt Disney Co. | 18,439 | 1,771,066 | ||||||||||||
Warner Bros Discovery, Inc.(a) | 21,766 | 218,095 | ||||||||||||
Warner Music Group Corp. - Class A | 930 | 33,936 | ||||||||||||
5,005,292 | ||||||||||||||
Multi-line Insurance - 0.1% | ||||||||||||||
American International Group, Inc. | 7,171 | 498,456 | ||||||||||||
Multi-Sector Holdings - 1.2% | ||||||||||||||
Berkshire Hathaway, Inc. - Class B(a) | 12,930 | 4,961,758 | ||||||||||||
Multi-Utilities - 0.6% | ||||||||||||||
Ameren Corp. | 2,664 | 185,334 | ||||||||||||
CenterPoint Energy, Inc. | 6,009 | 167,891 | ||||||||||||
CMS Energy Corp. | 2,891 | 165,250 | ||||||||||||
Consolidated Edison, Inc. | 3,345 | 304,061 | ||||||||||||
Dominion Energy, Inc. | 8,225 | 376,047 | ||||||||||||
DTE Energy Co. | 1,906 | 200,931 | ||||||||||||
Public Service Enterprise Group, Inc. | 4,803 | 278,526 | ||||||||||||
Sempra | 6,109 | 437,159 | ||||||||||||
WEC Energy Group, Inc. | 3,118 | 251,810 | ||||||||||||
2,367,009 | ||||||||||||||
Oil & Gas Equipment & Services - 0.3% | ||||||||||||||
Baker Hughes Co. | 10,008 | 285,228 | ||||||||||||
Halliburton Co. | 8,771 | 312,686 | ||||||||||||
Schlumberger N.V. | 14,113 | 687,303 | ||||||||||||
1,285,217 |
The accompanying notes are an integral part of these financial statements.
21
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Exploration & Production - 1.0% | ||||||||||||||
ConocoPhillips | 12,125 | $ | 1,356,423 | |||||||||||
Coterra Energy, Inc. | 7,568 | 188,292 | ||||||||||||
Devon Energy Corp. | 6,236 | 262,037 | ||||||||||||
Diamondback Energy, Inc. | 1,796 | 276,117 | ||||||||||||
EOG Resources, Inc. | 5,876 | 668,630 | ||||||||||||
EQT Corp. | 4,078 | 144,361 | ||||||||||||
Hess Corp. | 2,696 | 378,869 | ||||||||||||
Marathon Oil Corp. | 6,063 | 138,540 | ||||||||||||
Pioneer Natural Resources Co. | 2,298 | 528,149 | ||||||||||||
3,941,418 | ||||||||||||||
Oil & Gas Refining & Marketing - 0.4% | ||||||||||||||
Marathon Petroleum Corp. | 4,003 | 662,897 | ||||||||||||
Phillips 66 | 4,488 | 647,663 | ||||||||||||
Valero Energy Corp. | 3,549 | 492,956 | ||||||||||||
1,803,516 | ||||||||||||||
Oil & Gas Storage & Transportation - 0.4% | ||||||||||||||
Cheniere Energy, Inc. | 2,246 | 368,322 | ||||||||||||
Kinder Morgan, Inc. | 19,556 | 330,888 | ||||||||||||
ONEOK, Inc. | 5,722 | 390,527 | ||||||||||||
Targa Resources Corp. | 2,038 | 173,148 | ||||||||||||
Williams Cos., Inc. | 11,988 | 415,503 | ||||||||||||
1,678,388 | ||||||||||||||
Other Specialty Retail - 0.1% | ||||||||||||||
Chewy, Inc. - Class A(a) | 973 | 17,339 | ||||||||||||
Tractor Supply Co. | 1,113 | 249,980 | ||||||||||||
Ulta Beauty, Inc.(a) | 482 | 241,988 | ||||||||||||
509,307 | ||||||||||||||
Packaged Foods & Meats - 0.7% | ||||||||||||||
Campbell Soup Co. | 1,809 | 80,736 | ||||||||||||
Conagra Brands, Inc. | 4,677 | 136,335 | ||||||||||||
General Mills, Inc. | 5,782 | 375,309 | ||||||||||||
Hershey Co. | 1,595 | 308,696 | ||||||||||||
Hormel Foods Corp. | 2,891 | 87,800 | ||||||||||||
J.M. Smucker Co. | 1,007 | 132,471 | ||||||||||||
Kellanova | 2,664 | 145,881 | ||||||||||||
Kraft Heinz Co. | 7,568 | 281,000 |
The accompanying notes are an integral part of these financial statements.
22
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Packaged Foods & Meats - 0.7% (Continued) | ||||||||||||||
McCormick & Co., Inc. | 2,713 | $ | 184,918 | |||||||||||
Mondelez International, Inc. - Class A | 13,547 | 1,019,682 | ||||||||||||
Tyson Foods, Inc. - Class A | 2,891 | 158,311 | ||||||||||||
WK Kellogg Co. | 713 | 9,262 | ||||||||||||
2,920,401 | ||||||||||||||
Paper & Plastic Packaging Products & Materials - 0.0%(c) | ||||||||||||||
Amcor PLC | 14,879 | 140,309 | ||||||||||||
Passenger Airlines - 0.0%(c) | ||||||||||||||
Delta Air Lines, Inc. | 1,626 | 63,642 | ||||||||||||
Southwest Airlines Co. | 1,507 | 45,044 | ||||||||||||
United Airlines Holdings, Inc.(a) | 813 | 33,642 | ||||||||||||
142,328 | ||||||||||||||
Passenger Ground Transportation - 0.3% | ||||||||||||||
Grab Holdings Ltd. - Class A(a) | 27,915 | 85,699 | ||||||||||||
Uber Technologies, Inc.(a) | 19,653 | 1,282,751 | ||||||||||||
1,368,450 | ||||||||||||||
Personal Care Products - 0.1% | ||||||||||||||
Estee Lauder Cos., Inc. - Class A | 2,013 | 265,696 | ||||||||||||
Kenvue, Inc. | 17,083 | 354,643 | ||||||||||||
620,339 | ||||||||||||||
Pharmaceuticals - 3.9% | ||||||||||||||
Bristol-Myers Squibb Co. | 20,888 | 1,020,797 | ||||||||||||
Eli Lilly & Co. | 8,594 | 5,548,372 | ||||||||||||
Johnson & Johnson | 24,338 | 3,867,308 | ||||||||||||
Merck & Co., Inc. | 25,631 | 3,095,712 | ||||||||||||
Pfizer, Inc. | 57,528 | 1,557,858 | ||||||||||||
Royalty Pharma PLC - Class A | 3,387 | 96,157 | ||||||||||||
Zoetis, Inc. | 4,255 | 799,132 | ||||||||||||
15,985,336 | ||||||||||||||
Property & Casualty Insurance - 1.0% | ||||||||||||||
Allstate Corp. | 2,664 | 413,586 | ||||||||||||
Arch Capital Group Ltd.(a) | 3,416 | 281,581 | ||||||||||||
Chubb Ltd. | 4,163 | 1,019,935 | ||||||||||||
Cincinnati Financial Corp. | 1,559 | 172,737 | ||||||||||||
Hartford Financial Services Group, Inc. | 3,118 | 271,141 | ||||||||||||
Loews Corp. | 1,814 | 132,168 | ||||||||||||
Markel Group, Inc.(a) | 128 | 191,671 |
The accompanying notes are an integral part of these financial statements.
23
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Property & Casualty Insurance - 1.0% (Continued) | ||||||||||||||
Progressive Corp. | 5,908 | $ | 1,053,101 | |||||||||||
Travelers Cos., Inc. | 2,359 | 498,598 | ||||||||||||
W R Berkley Corp. | 2,112 | 172,931 | ||||||||||||
4,207,449 | ||||||||||||||
Rail Transportation - 0.7% | ||||||||||||||
CSX Corp. | 20,238 | 722,497 | ||||||||||||
Norfolk Southern Corp. | 2,342 | 550,932 | ||||||||||||
Union Pacific Corp. | 6,009 | 1,465,775 | ||||||||||||
2,739,204 | ||||||||||||||
Real Estate Services - 0.1% | ||||||||||||||
CBRE Group, Inc. - Class A(a) | 2,918 | 251,853 | ||||||||||||
CoStar Group, Inc.(a) | 4,249 | 354,706 | ||||||||||||
606,559 | ||||||||||||||
Regional Banks - 0.3% | ||||||||||||||
Citizens Financial Group, Inc. | 4,677 | 152,938 | ||||||||||||
Huntington Bancshares, Inc. | 13,774 | 175,343 | ||||||||||||
M&T Bank Corp. | 1,585 | 218,889 | ||||||||||||
Regions Financial Corp. | 8,900 | 166,163 | ||||||||||||
Truist Financial Corp. | 13,444 | 498,234 | ||||||||||||
1,211,567 | ||||||||||||||
Research & Consulting Services - 0.3% | ||||||||||||||
Equifax, Inc. | 1,291 | 315,443 | ||||||||||||
Jacobs Solutions, Inc. | 1,239 | 166,980 | ||||||||||||
Leidos Holdings, Inc. | 1,377 | 152,117 | ||||||||||||
TransUnion | 1,786 | 123,573 | ||||||||||||
Verisk Analytics, Inc. | 1,404 | 339,109 | ||||||||||||
1,097,222 | ||||||||||||||
Restaurants - 1.2% | ||||||||||||||
Chipotle Mexican Grill, Inc.(a) | 268 | 645,550 | ||||||||||||
Darden Restaurants, Inc. | 1,193 | 193,958 | ||||||||||||
Domino's Pizza, Inc. | 345 | 147,046 | ||||||||||||
DoorDash, Inc. - Class A(a) | 3,055 | 318,331 | ||||||||||||
McDonald's Corp. | 7,378 | 2,159,688 | ||||||||||||
Starbucks Corp. | 11,585 | 1,077,753 | ||||||||||||
Yum! Brands, Inc. | 2,905 | 376,168 | ||||||||||||
4,918,494 |
The accompanying notes are an integral part of these financial statements.
24
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Semiconductor Materials & Equipment - 0.9% | ||||||||||||||
Applied Materials, Inc. | 8,440 | $ | 1,386,693 | |||||||||||
Enphase Energy, Inc.(a) | 1,332 | 138,701 | ||||||||||||
KLA Corp. | 1,386 | 823,339 | ||||||||||||
Lam Research Corp. | 1,332 | 1,099,126 | ||||||||||||
SolarEdge Technologies, Inc.(a) | 558 | 37,107 | ||||||||||||
Teradyne, Inc. | 1,559 | 150,584 | ||||||||||||
3,635,550 | ||||||||||||||
Semiconductors - 7.7% | ||||||||||||||
Advanced Micro Devices, Inc.(a) | 16,315 | 2,735,862 | ||||||||||||
Analog Devices, Inc. | 5,018 | 965,262 | ||||||||||||
Broadcom, Inc. | 4,068 | 4,800,241 | ||||||||||||
First Solar, Inc.(a) | 1,008 | 147,470 | ||||||||||||
GlobalFoundries, Inc.(a)(b) | 496 | 27,270 | ||||||||||||
Intel Corp. | 42,451 | 1,828,789 | ||||||||||||
Marvell Technology, Inc. | 8,474 | 573,690 | ||||||||||||
Microchip Technology, Inc. | 5,328 | 453,839 | ||||||||||||
Micron Technology, Inc. | 10,883 | 933,217 | ||||||||||||
Monolithic Power Systems, Inc. | 454 | 273,635 | ||||||||||||
NVIDIA Corp. | 24,051 | 14,797,860 | ||||||||||||
NXP Semiconductors NV | 2,589 | 545,166 | ||||||||||||
ON Semiconductor Corp.(a) | 4,413 | 313,897 | ||||||||||||
QUALCOMM, Inc. | 11,299 | 1,678,014 | ||||||||||||
Skyworks Solutions, Inc. | 1,559 | 162,853 | ||||||||||||
Texas Instruments, Inc. | 9,179 | 1,469,741 | ||||||||||||
31,706,806 | ||||||||||||||
Soft Drinks & Non-alcoholic Beverages - 1.3% | ||||||||||||||
Coca-Cola Co. | 39,270 | 2,336,173 | ||||||||||||
Keurig Dr. Pepper, Inc. | 10,117 | 318,078 | ||||||||||||
Monster Beverage Corp.(a) | 7,619 | 419,197 | ||||||||||||
PepsiCo, Inc. | 13,912 | 2,344,590 | ||||||||||||
5,418,038 | ||||||||||||||
Specialty Chemicals - 0.5% | ||||||||||||||
Albemarle Corp. | 1,165 | 133,672 | ||||||||||||
Celanese Corp. | 915 | 133,855 | ||||||||||||
DuPont de Nemours, Inc. | 4,085 | 252,453 | ||||||||||||
Ecolab, Inc. | 2,548 | 505,065 | ||||||||||||
International Flavors & Fragrances, Inc. | 2,360 | 190,405 | ||||||||||||
PPG Industries, Inc. | 2,240 | 315,930 | ||||||||||||
Sherwin-Williams Co. | 2,367 | 720,467 | ||||||||||||
2,251,847 |
The accompanying notes are an integral part of these financial statements.
25
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Steel - 0.2% | ||||||||||||||
Nucor Corp. | 2,484 | $ | 464,334 | |||||||||||
Steel Dynamics, Inc. | 1,573 | 189,845 | ||||||||||||
654,179 | ||||||||||||||
Systems Software - 8.7% | ||||||||||||||
Crowdstrike Holdings, Inc. - Class A(a) | 2,212 | 647,010 | ||||||||||||
Fortinet, Inc.(a) | 6,660 | 429,503 | ||||||||||||
Microsoft Corp. | 75,363 | 29,962,821 | ||||||||||||
Oracle Corp. | 16,098 | 1,798,147 | ||||||||||||
Palo Alto Networks, Inc.(a) | 3,077 | 1,041,595 | ||||||||||||
ServiceNow, Inc.(a) | 2,037 | 1,559,120 | ||||||||||||
Zscaler, Inc.(a) | 886 | 208,804 | ||||||||||||
35,647,000 | ||||||||||||||
Technology Distributors - 0.1% | ||||||||||||||
CDW Corp. | 1,332 | 301,991 | ||||||||||||
Technology Hardware, Storage & Peripherals - 7.0% | ||||||||||||||
Apple, Inc. | 149,153 | 27,503,813 | ||||||||||||
Dell Technologies, Inc. - Class C | 2,502 | 207,366 | ||||||||||||
Hewlett Packard Enterprise Co. | 12,669 | 193,709 | ||||||||||||
HP, Inc. | 8,999 | 258,361 | ||||||||||||
NetApp, Inc. | 2,013 | 175,534 | ||||||||||||
Seagate Technology Holdings PLC | 1,786 | 153,024 | ||||||||||||
Western Digital Corp.(a) | 3,427 | 196,196 | ||||||||||||
28,688,003 | ||||||||||||||
Tobacco - 0.5% | ||||||||||||||
Altria Group, Inc. | 17,771 | 712,973 | ||||||||||||
Philip Morris International, Inc. | 15,769 | 1,432,613 | ||||||||||||
2,145,586 | ||||||||||||||
Trading Companies & Distributors - 0.4% | ||||||||||||||
Fastenal Co. | 5,649 | 385,431 | ||||||||||||
Ferguson PLC | 2,049 | 384,925 | ||||||||||||
United Rentals, Inc. | 679 | 424,647 | ||||||||||||
WW Grainger, Inc. | 451 | 403,934 | ||||||||||||
1,598,937 | ||||||||||||||
Transaction & Payment Processing Services - 2.6% | ||||||||||||||
Block, Inc.(a) | 5,384 | 350,014 | ||||||||||||
Fidelity National Information Services, Inc. | 5,782 | 359,987 | ||||||||||||
Fiserv, Inc.(a) | 5,885 | 834,905 |
The accompanying notes are an integral part of these financial statements.
26
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 97.2% (Continued) | Shares | Value | ||||||||||||
Transaction & Payment Processing Services - 2.6% (Continued) | ||||||||||||||
FleetCor Technologies, Inc.(a) | 748 | $ | 216,868 | |||||||||||
Global Payments, Inc. | 2,664 | 354,925 | ||||||||||||
Mastercard, Inc. - Class A | 8,455 | 3,798,239 | ||||||||||||
PayPal Holdings, Inc.(a) | 11,145 | 683,746 | ||||||||||||
Visa, Inc. - Class A | 15,929 | 4,352,758 | ||||||||||||
10,951,442 | ||||||||||||||
Water Utilities - 0.1% | ||||||||||||||
American Water Works Co., Inc. | 1,878 | 232,910 | ||||||||||||
Wireless Telecommunication Services - 0.2% | ||||||||||||||
T-Mobile US, Inc. | 5,292 | 853,229 | ||||||||||||
TOTAL COMMON STOCKS (Cost $350,650,872) | 402,018,468 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 2.1% | ||||||||||||||
Alexandria Real Estate Equities, Inc. | 1,666 | 201,419 | ||||||||||||
American Tower Corp. | 4,728 | 925,033 | ||||||||||||
AvalonBay Communities, Inc. | 1,386 | 248,108 | ||||||||||||
Crown Castle, Inc. | 4,223 | 457,140 | ||||||||||||
Digital Realty Trust, Inc. | 2,967 | 416,745 | ||||||||||||
Equinix, Inc. | 910 | 755,091 | ||||||||||||
Equity Residential | 3,572 | 214,999 | ||||||||||||
Essex Property Trust, Inc. | 633 | 147,660 | ||||||||||||
Extra Space Storage, Inc. | 2,106 | 304,191 | ||||||||||||
Healthpeak Properties, Inc. | 5,328 | 98,568 | ||||||||||||
Invitation Homes, Inc. | 5,643 | 185,824 | ||||||||||||
Iron Mountain, Inc. | 2,831 | 191,149 | ||||||||||||
Mid-America Apartment Communities, Inc. | 1,019 | 128,781 | ||||||||||||
NET Lease Office Properties | 98 | 2,428 | ||||||||||||
Prologis, Inc. | 9,370 | 1,187,085 | ||||||||||||
Public Storage | 1,587 | 449,422 | ||||||||||||
Realty Income Corp. | 8,246 | 448,500 | ||||||||||||
SBA Communications Corp. | 1,067 | 238,859 | ||||||||||||
Simon Property Group, Inc. | 3,118 | 432,186 | ||||||||||||
Sun Communities, Inc. | 1,221 | 153,052 | ||||||||||||
UDR, Inc. | 3,118 | 112,310 | ||||||||||||
Ventas, Inc. | 3,996 | 185,374 | ||||||||||||
VICI Properties, Inc. | 9,901 | 298,218 | ||||||||||||
Welltower, Inc. | 5,005 | 432,983 | ||||||||||||
Weyerhaeuser Co. | 7,341 | 240,565 | ||||||||||||
WP Carey, Inc. | 1,843 | 114,192 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $8,428,121) | 8,569,882 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
27
STRIVE 500 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 0.5% | Shares | Value | ||||||||||||
Investments Purchased with Proceeds from Securities Lending - 0.0%(c) | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 63,107 | $ | 63,107 | |||||||||||
Money Market Funds - 0.5% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 2,103,781 | 2,103,781 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,166,888) | 2,166,888 | |||||||||||||
TOTAL INVESTMENTS - 99.8% (Cost $361,245,881) | $ | 412,755,238 | ||||||||||||
Other Assets in Excess of Liabilities - 0.2% | 911,717 | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 413,666,955 |
Percentages are stated as a percent of net assets.
PLC - Public Limited Company |
(a) | Non-income producing security. | |||||||
(b) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $58,849 which represented 0.0% of net assets. | |||||||
(c) | Represents less than 0.05% of net assets. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
28
STRIVE U.S. SEMICONDUCTOR ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.7% | Shares | Value | ||||||||||||
Electronic Manufacturing Services - 5.3% | ||||||||||||||
Fabrinet(a) | 2,165 | $ | 462,249 | |||||||||||
TE Connectivity Ltd. | 14,521 | 2,064,741 | ||||||||||||
2,526,990 | ||||||||||||||
Semiconductor Materials & Equipment - 14.5% | ||||||||||||||
Applied Materials, Inc. | 12,859 | 2,112,734 | ||||||||||||
Axcelis Technologies, Inc.(a) | 1,927 | 250,606 | ||||||||||||
Enphase Energy, Inc.(a) | 7,974 | 830,333 | ||||||||||||
Entegris, Inc. | 8,940 | 1,052,238 | ||||||||||||
Lam Research Corp. | 2,831 | 2,336,056 | ||||||||||||
MKS Instruments, Inc. | 3,784 | 402,807 | ||||||||||||
6,984,774 | ||||||||||||||
Semiconductors - 79.9%(b) | ||||||||||||||
Advanced Micro Devices, Inc.(a) | 28,696 | 4,812,031 | ||||||||||||
Analog Devices, Inc. | 10,306 | 1,982,462 | ||||||||||||
Broadcom, Inc. | 3,618 | 4,269,239 | ||||||||||||
Cirrus Logic, Inc.(a) | 3,269 | 252,367 | ||||||||||||
First Solar, Inc.(a) | 6,082 | 889,797 | ||||||||||||
GlobalFoundries, Inc.(a)(c) | 4,565 | 250,984 | ||||||||||||
Intel Corp. | 83,309 | 3,588,952 | ||||||||||||
Lattice Semiconductor Corp.(a) | 8,186 | 498,200 | ||||||||||||
MACOM Technology Solutions Holdings, Inc.(a) | 3,242 | 279,558 | ||||||||||||
Marvell Technology, Inc. | 33,609 | 2,275,329 | ||||||||||||
Microchip Technology, Inc. | 23,033 | 1,961,951 | ||||||||||||
Micron Technology, Inc. | 26,303 | 2,255,482 | ||||||||||||
Monolithic Power Systems, Inc. | 2,763 | 1,665,315 | ||||||||||||
NVIDIA Corp. | 6,775 | 4,168,454 | ||||||||||||
ON Semiconductor Corp.(a) | 19,911 | 1,416,269 | ||||||||||||
Power Integrations, Inc. | 3,370 | 252,615 | ||||||||||||
Qorvo, Inc.(a) | 5,905 | 588,965 | ||||||||||||
QUALCOMM, Inc. | 16,305 | 2,421,456 | ||||||||||||
Rambus, Inc.(a) | 6,498 | 445,308 | ||||||||||||
Skyworks Solutions, Inc. | 9,552 | 997,802 | ||||||||||||
Texas Instruments, Inc. | 18,896 | 3,025,628 | ||||||||||||
Wolfspeed, Inc.(a) | 7,403 | 240,968 | ||||||||||||
38,539,132 | ||||||||||||||
TOTAL COMMON STOCKS (Cost $37,300,407) | 48,050,896 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
29
STRIVE U.S. SEMICONDUCTOR ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 0.8% | Shares | Value | ||||||||||||
Investments Purchased with Proceeds from Securities Lending - 0.5% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 238,277 | $ | 238,277 | |||||||||||
Money Market Funds - 0.3% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 143,541 | 143,541 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $381,818) | 381,818 | |||||||||||||
TOTAL INVESTMENTS - 100.5% (Cost $37,682,225) | $ | 48,432,714 | ||||||||||||
Liabilities in Excess of Other Assets - (0.5)% | (227,558) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 48,205,156 |
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. | |||||||
(b) | To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors. | |||||||
(c) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $226,847 which represented 0.5% of net assets. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
30
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% | Shares | Value | ||||||||||||
Brazil - 5.4% | ||||||||||||||
Ambev S.A. | 71,096 | $ | 187,842 | |||||||||||
B3 SA - Brasil Bolsa Balcao | 91,379 | 241,248 | ||||||||||||
Banco Bradesco S.A. | 19,228 | 53,247 | ||||||||||||
Banco BTG Pactual S.A. | 19,601 | 142,743 | ||||||||||||
Banco do Brasil S.A. | 22,433 | 256,007 | ||||||||||||
Banco Santander Brasil S.A. | 61,394 | 354,655 | ||||||||||||
BB Seguridade Participacoes S.A. | 14,013 | 97,297 | ||||||||||||
CCR S.A. | 13,155 | 34,969 | ||||||||||||
Centrais Eletricas Brasileiras S.A. | 12,592 | 103,900 | ||||||||||||
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 4,396 | 70,416 | ||||||||||||
Companhia Paranaense de Energia | 3,677 | 6,665 | ||||||||||||
Cosan S.A. | 15,045 | 55,784 | ||||||||||||
Energisa S.A. | 5,128 | 52,383 | ||||||||||||
Equatorial Energia S.A. | 12,216 | 87,606 | ||||||||||||
Hapvida Participacoes e Investimentos S.A.(a)(b) | 61,539 | 48,442 | ||||||||||||
Hypera S.A. | 4,988 | 31,985 | ||||||||||||
Itausa S.A. | 1 | 1 | ||||||||||||
JBS S.A. | 11,059 | 52,433 | ||||||||||||
Klabin S.A. | 23,634 | 101,941 | ||||||||||||
Localiza Rent a Car S.A. | 14,153 | 155,430 | ||||||||||||
Lojas Renner S.A. | 12,250 | 39,833 | ||||||||||||
Natura & Co. Holding S.A.(a) | 10,676 | 34,650 | ||||||||||||
Petroleo Brasileiro S.A. | 57,662 | 494,754 | ||||||||||||
PRIO S.A. | 16,992 | 151,180 | ||||||||||||
Raia Drogasil S.A. | 15,151 | 77,370 | ||||||||||||
Rede D'Or Sao Luiz S.A.(b) | 12,805 | 69,809 | ||||||||||||
Rumo S.A. | 29,139 | 135,802 | ||||||||||||
Sendas Distribuidora S.A. | 33,393 | 92,609 | ||||||||||||
Suzano S.A. | 20,034 | 209,341 | ||||||||||||
Telefonica Brasil S.A. | 5,168 | 53,512 | ||||||||||||
TIM S.A. | 9,983 | 35,101 | ||||||||||||
Vale S.A. | 49,026 | 672,792 | ||||||||||||
Vibra Energia S.A. | 23,556 | 113,159 | ||||||||||||
WEG S.A. | 12,937 | 84,342 | ||||||||||||
4,399,248 | ||||||||||||||
Chile - 0.4% | ||||||||||||||
Banco de Chile | 604,644 | 67,793 | ||||||||||||
Banco de Credito e Inversiones S.A. | 1,217 | 32,225 | ||||||||||||
Banco Santander Chile | 1,514,840 | 70,056 | ||||||||||||
Cencosud S.A. | 21,307 | 37,080 |
The accompanying notes are an integral part of these financial statements.
31
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Chile - 0.4% (Continued) | ||||||||||||||
Empresas Copec S.A. | 7,111 | $ | 45,207 | |||||||||||
Enel Americas S.A. | 302,316 | 30,638 | ||||||||||||
Latam Airlines Group S.A.(a) | 4,165,090 | 51,470 | ||||||||||||
334,469 | ||||||||||||||
Colombia - 0.1% | ||||||||||||||
Bancolombia S.A. | 3,394 | 28,554 | ||||||||||||
Ecopetrol S.A. | 53,708 | 32,206 | ||||||||||||
Grupo Energia Bogota S.A. | 39,240 | 22,925 | ||||||||||||
Interconexion Electrica S.A. | 6,378 | 27,615 | ||||||||||||
111,300 | ||||||||||||||
Czech Republic - 0.2% | ||||||||||||||
CEZ AS | 2,234 | 84,635 | ||||||||||||
Komercni Banka AS | 975 | 32,037 | ||||||||||||
Moneta Money Bank A/S(b) | 4,101 | 17,670 | ||||||||||||
134,342 | ||||||||||||||
Greece - 0.3% | ||||||||||||||
Eurobank Ergasias Services and Holdings S.A.(a) | 32,252 | 62,285 | ||||||||||||
Hellenic Telecommunications Organization S.A. | 2,165 | 30,065 | ||||||||||||
Mytilineos S.A. | 1,335 | 54,824 | ||||||||||||
National Bank of Greece S.A.(a) | 7,045 | 53,523 | ||||||||||||
OPAP S.A. | 2,298 | 39,785 | ||||||||||||
240,482 | ||||||||||||||
Hungary - 0.3% | ||||||||||||||
MOL Hungarian Oil & Gas PLC | 5,986 | 49,059 | ||||||||||||
OTP Bank Nyrt | 2,816 | 130,461 | ||||||||||||
Richter Gedeon Nyrt | 1,671 | 45,108 | ||||||||||||
224,628 | ||||||||||||||
India - 25.9%(c) | ||||||||||||||
Adani Enterprises Ltd. | 6,299 | 238,326 | ||||||||||||
Adani Green Energy Ltd.(a) | 10,406 | 209,195 | ||||||||||||
Adani Ports & Special Economic Zone Ltd. | 19,111 | 277,919 | ||||||||||||
Adani Power Ltd.(a) | 37,124 | 251,550 | ||||||||||||
Apollo Hospitals Enterprise Ltd. | 2,115 | 161,800 | ||||||||||||
Ashok Leyland Ltd. | 55,133 | 116,781 | ||||||||||||
Asian Paints Ltd. | 5,694 | 202,809 | ||||||||||||
Avenue Supermarts Ltd.(a)(b) | 2,095 | 95,681 | ||||||||||||
Axis Bank Ltd. | 45,237 | 581,643 | ||||||||||||
Bajaj Auto Ltd. | 2,518 | 232,491 |
The accompanying notes are an integral part of these financial statements.
32
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
India - 25.9%(c) (Continued) | ||||||||||||||
Bajaj Finance Ltd. | 3,985 | $ | 329,329 | |||||||||||
Bajaj Finserv Ltd. | 12,183 | 238,734 | ||||||||||||
Bank of Baroda | 49,036 | 146,204 | ||||||||||||
Bharat Electronics Ltd. | 69,963 | 156,618 | ||||||||||||
Bharti Airtel Ltd. | 33,994 | 479,227 | ||||||||||||
Britannia Industries Ltd. | 2,053 | 128,514 | ||||||||||||
Cholamandalam Investment and Finance Co. Ltd. | 8,521 | 121,504 | ||||||||||||
Cipla Ltd. | 8,489 | 138,104 | ||||||||||||
Coal India Ltd. | 31,340 | 153,278 | ||||||||||||
Dabur India Ltd. | 18,148 | 117,922 | ||||||||||||
Divi's Laboratories Ltd. | 2,117 | 93,573 | ||||||||||||
DLF Ltd. | 12,176 | 117,678 | ||||||||||||
Dr Reddy's Laboratories Ltd. | 1,989 | 146,609 | ||||||||||||
Eicher Motors Ltd. | 2,378 | 109,949 | ||||||||||||
Godrej Consumer Products Ltd. | 7,180 | 100,657 | ||||||||||||
Grasim Industries Ltd. | 5,967 | 156,282 | ||||||||||||
HCL Technologies Ltd. | 8,184 | 155,316 | ||||||||||||
HDFC Bank Ltd. | 115,701 | 2,037,702 | ||||||||||||
HDFC Life Insurance Co. Ltd.(b) | 18,011 | 125,056 | ||||||||||||
Hero MotoCorp Ltd. | 3,028 | 168,514 | ||||||||||||
Hindalco Industries Ltd. | 29,122 | 203,168 | ||||||||||||
Hindustan Aeronautics Ltd. | 5,413 | 195,508 | ||||||||||||
Hindustan Unilever Ltd. | 12,425 | 371,289 | ||||||||||||
ICICI Bank Ltd. | 104,440 | 1,293,053 | ||||||||||||
Indian Hotels Co. Ltd. | 24,069 | 142,787 | ||||||||||||
IndusInd Bank Ltd. | 13,829 | 255,460 | ||||||||||||
Info Edge India Ltd. | 2,120 | 128,452 | ||||||||||||
Infosys Ltd. | 50,429 | 1,008,594 | ||||||||||||
InterGlobe Aviation Ltd.(a)(b) | 3,617 | 128,983 | ||||||||||||
ITC Ltd. | 107,097 | 569,443 | ||||||||||||
JSW Steel Ltd. | 19,323 | 190,487 | ||||||||||||
Kotak Mahindra Bank Ltd. | 21,387 | 470,073 | ||||||||||||
Larsen & Toubro Ltd. | 16,075 | 673,584 | ||||||||||||
LTIMindtree Ltd.(b) | 1,602 | 105,108 | ||||||||||||
Mahindra & Mahindra Ltd. | 7,427 | 147,706 | ||||||||||||
Maruti Suzuki India Ltd. | 1,054 | 129,293 | ||||||||||||
Max Healthcare Institute Ltd. | 16,795 | 157,911 | ||||||||||||
Nestle India Ltd. | 8,030 | 242,320 | ||||||||||||
NTPC Ltd. | 98,945 | 378,295 | ||||||||||||
Oil & Natural Gas Corp. Ltd. | 51,730 | 157,133 | ||||||||||||
Pidilite Industries Ltd. | 3,780 | 115,300 | ||||||||||||
Power Finance Corp. Ltd. | 44,318 | 236,549 |
The accompanying notes are an integral part of these financial statements.
33
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
India - 25.9%(c) (Continued) | ||||||||||||||
Power Grid Corp. of India Ltd. | 89,525 | $ | 279,538 | |||||||||||
REC Ltd. | 36,769 | 220,963 | ||||||||||||
Reliance Industries Ltd. | 47,912 | 1,646,179 | ||||||||||||
SBI Life Insurance Co. Ltd.(b) | 7,723 | 130,306 | ||||||||||||
Shree Cement Ltd. | 628 | 215,950 | ||||||||||||
Shriram Finance Ltd. | 4,508 | 133,909 | ||||||||||||
Siemens Ltd. | 2,388 | 119,061 | ||||||||||||
SRF Ltd. | 3,895 | 109,054 | ||||||||||||
State Bank of India | 48,887 | 377,056 | ||||||||||||
Sun Pharmaceutical Industries Ltd. | 8,659 | 147,902 | ||||||||||||
Tata Consultancy Services Ltd. | 13,946 | 640,834 | ||||||||||||
Tata Consumer Products Ltd. | 10,397 | 139,973 | ||||||||||||
Tata Motors Ltd. | 13,102 | 139,502 | ||||||||||||
Tata Power Co. Ltd. | 27,355 | 128,385 | ||||||||||||
Tata Steel Ltd. | 164,236 | 268,869 | ||||||||||||
Tech Mahindra Ltd. | 12,573 | 201,917 | ||||||||||||
Titan Co. Ltd. | 3,081 | 137,183 | ||||||||||||
Trent Ltd. | 3,850 | 143,114 | ||||||||||||
TVS Motor Co. Ltd. | 7,075 | 170,507 | ||||||||||||
UltraTech Cement Ltd. | 927 | 113,496 | ||||||||||||
United Spirits Ltd. | 8,514 | 111,726 | ||||||||||||
Varun Beverages Ltd. | 9,030 | 139,228 | ||||||||||||
Wipro Ltd. | 22,793 | 131,238 | ||||||||||||
Zomato Ltd.(a) | 116,954 | 196,534 | ||||||||||||
20,931,885 | ||||||||||||||
Indonesia - 2.7% | ||||||||||||||
Adaro Energy Indonesia Tbk PT | 378,012 | 57,492 | ||||||||||||
Amman Mineral Internasional PT(a) | 170,379 | 81,249 | ||||||||||||
Astra International Tbk PT | 206,526 | 67,075 | ||||||||||||
Bank Central Asia Tbk PT | 851,112 | 515,089 | ||||||||||||
Bank Mandiri Persero Tbk PT | 600,676 | 253,137 | ||||||||||||
Bank Negara Indonesia Persero Tbk PT | 182,011 | 66,322 | ||||||||||||
Bank Rakyat Indonesia Persero Tbk PT | 1,167,302 | 421,649 | ||||||||||||
Barito Pacific Tbk PT | 789,712 | 53,048 | ||||||||||||
Chandra Asri Petrochemical Tbk PT | 323,120 | 110,573 | ||||||||||||
Charoen Pokphand Indonesia Tbk PT | 213,889 | 60,724 | ||||||||||||
GoTo Gojek Tokopedia Tbk PT(a) | 7,883,688 | 43,965 | ||||||||||||
Indofood Sukses Makmur Tbk PT | 128,567 | 51,940 | ||||||||||||
Kalbe Farma Tbk PT | 506,873 | 48,503 | ||||||||||||
Merdeka Copper Gold Tbk PT(a) | 363,898 | 62,264 | ||||||||||||
Sumber Alfaria Trijaya Tbk PT | 180,917 | 30,382 |
The accompanying notes are an integral part of these financial statements.
34
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Indonesia - 2.7% (Continued) | ||||||||||||||
Telkom Indonesia Persero Tbk PT | 787,675 | $ | 197,667 | |||||||||||
United Tractors Tbk PT | 41,429 | 60,254 | ||||||||||||
2,181,333 | ||||||||||||||
Republic Of Korea- 12.9% | ||||||||||||||
Celltrion, Inc. | 2,793 | 376,055 | ||||||||||||
Doosan Enerbility Co. Ltd.(a) | 5,145 | 59,520 | ||||||||||||
Ecopro BM Co. Ltd.(a) | 563 | 90,061 | ||||||||||||
Ecopro Co. Ltd.(a) | 246 | 92,528 | ||||||||||||
Hana Financial Group, Inc. | 3,753 | 134,412 | ||||||||||||
Hanwha Aerospace Co. Ltd.(a) | 334 | 34,560 | ||||||||||||
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.(a) | 509 | 43,286 | ||||||||||||
HLB, Inc.(a) | 1,496 | 75,997 | ||||||||||||
HMM Co. Ltd.(a) | 3,314 | 47,898 | ||||||||||||
HYBE Co. Ltd.(a) | 187 | 28,233 | ||||||||||||
Hyundai Mobis Co. Ltd. | 715 | 112,501 | ||||||||||||
Hyundai Motor Co. | 1,848 | 269,450 | ||||||||||||
Kakao Corp.(a) | 4,733 | 186,178 | ||||||||||||
KB Financial Group, Inc. | 4,940 | 209,496 | ||||||||||||
Kia Corp.(a) | 3,482 | 268,458 | ||||||||||||
Korea Electric Power Corp.(a) | 3,823 | 56,630 | ||||||||||||
Korea Zinc Co. Ltd. | 116 | 41,154 | ||||||||||||
Korean Air Lines Co. Ltd.(a) | 2,597 | 43,781 | ||||||||||||
Krafton, Inc.(a) | 337 | 54,161 | ||||||||||||
KT Corp.(a) | 2,013 | 53,392 | ||||||||||||
KT&G Corp. | 2,405 | 163,259 | ||||||||||||
Kum Yang Co. Ltd.(a) | 399 | 23,348 | ||||||||||||
L&F Co. Ltd.(a) | 316 | 33,976 | ||||||||||||
LG Chem Ltd. | 668 | 217,471 | ||||||||||||
LG Corp.(a) | 1,528 | 93,879 | ||||||||||||
LG Electronics, Inc. | 1,484 | 103,963 | ||||||||||||
LG Energy Solution Ltd.(a) | 534 | 152,440 | ||||||||||||
Lotte Chemical Corp.(a) | 273 | 26,734 | ||||||||||||
Meritz Financial Group, Inc.(a) | 1,173 | 60,203 | ||||||||||||
NAVER Corp.(a) | 2,046 | 307,364 | ||||||||||||
POSCO Future M Co. Ltd.(a) | 325 | 61,730 | ||||||||||||
POSCO Holdings, Inc. | 969 | 309,290 | ||||||||||||
Posco International Corp.(a) | 1,151 | 45,362 | ||||||||||||
Samsung Biologics Co. Ltd.(a)(b) | 227 | 142,869 | ||||||||||||
Samsung C&T Corp. | 1,820 | 188,184 | ||||||||||||
Samsung Electro-Mechanics Co. Ltd. | 1,566 | 163,798 | ||||||||||||
Samsung Electronics Co. Ltd. | 76,619 | 4,173,529 |
The accompanying notes are an integral part of these financial statements.
35
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Republic Of Korea - 12.9% (Continued) | ||||||||||||||
Samsung Engineering Co. Ltd.(a) | 1,596 | $ | 26,667 | |||||||||||
Samsung Fire & Marine Insurance Co. Ltd.(a) | 942 | 186,332 | ||||||||||||
Samsung Heavy Industries Co. Ltd.(a) | 7,766 | 42,535 | ||||||||||||
Samsung Life Insurance Co. Ltd. | 853 | 44,291 | ||||||||||||
Samsung SDI Co. Ltd. | 718 | 200,394 | ||||||||||||
Samsung SDS Co. Ltd. | 389 | 44,302 | ||||||||||||
Shinhan Financial Group Co. Ltd. | 7,816 | 239,226 | ||||||||||||
SK Hynix, Inc. | 7,505 | 757,445 | ||||||||||||
SK Innovation Co. Ltd.(a) | 579 | 50,801 | ||||||||||||
SK Telecom Co. Ltd. | 1,727 | 64,957 | ||||||||||||
SK, Inc. | 433 | 59,533 | ||||||||||||
Woori Financial Group, Inc. | 18,464 | 192,021 | ||||||||||||
10,453,654 | ||||||||||||||
Kuwait - 0.8% | ||||||||||||||
Boubyan Bank KSCP | 20,641 | 41,215 | ||||||||||||
Kuwait Finance House KSCP | 114,513 | 287,493 | ||||||||||||
Mobile Telecommunications Co. KSCP | 28,034 | 47,954 | ||||||||||||
National Bank of Kuwait SAKP | 96,736 | 308,297 | ||||||||||||
684,959 | ||||||||||||||
Malaysia - 0.9% | ||||||||||||||
CIMB Group Holdings Berhad | 37,058 | 48,810 | ||||||||||||
Genting Berhad | 60,898 | 60,769 | ||||||||||||
Genting Malaysia Berhad | 82,029 | 46,824 | ||||||||||||
Hong Leong Bank Berhad | 9,042 | 36,703 | ||||||||||||
IHH Healthcare Berhad | 39,128 | 50,461 | ||||||||||||
Kuala Lumpur Kepong Berhad | 10,436 | 49,024 | ||||||||||||
Malayan Banking Berhad | 34,903 | 68,330 | ||||||||||||
Petronas Chemicals Group Berhad | 39,541 | 56,595 | ||||||||||||
PPB Group Berhad | 14,235 | 43,518 | ||||||||||||
Press Metal Aluminium Holdings Berhad | 26,086 | 26,141 | ||||||||||||
Public Bank Berhad | 88,316 | 81,968 | ||||||||||||
RHB Bank Bhd | 44,532 | 52,723 | ||||||||||||
Sime Darby Plantation Bhd | 45,751 | 42,753 | ||||||||||||
Telekom Malaysia Berhad | 37,695 | 47,179 | ||||||||||||
Tenaga Nasional Berhad | 21,190 | 48,025 | ||||||||||||
759,823 | ||||||||||||||
Mexico - 4.2% | ||||||||||||||
America Movil SAB de CV(a) | 497,550 | 448,941 | ||||||||||||
Arca Continental SAB de CV | 5,033 | 57,221 | ||||||||||||
Cemex SAB de CV(a) | 231,630 | 192,044 |
The accompanying notes are an integral part of these financial statements.
36
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Mexico - 4.2% (Continued) | ||||||||||||||
Coca-Cola Femsa SAB de CV | 6,383 | $ | 60,665 | |||||||||||
Fomento Economico Mexicano SAB de CV | 36,859 | 499,126 | ||||||||||||
Gruma SAB de CV - Class B | 2,340 | 43,778 | ||||||||||||
Grupo Aeroportuario del Pacifico SAB de CV - Class B | 7,603 | 118,386 | ||||||||||||
Grupo Aeroportuario del Sureste SAB de CV - Class B | 1,981 | 57,663 | ||||||||||||
Grupo Bimbo SAB de CV - Class A | 25,777 | 117,207 | ||||||||||||
Grupo Carso SAB de CV - Class A1 | 32,795 | 307,114 | ||||||||||||
Grupo Comercial Chedraui SAB de CV | 19,574 | 132,412 | ||||||||||||
Grupo Financiero Banorte SAB de CV | 47,958 | 487,646 | ||||||||||||
Grupo Financiero Inbursa SAB de CV(a) | 22,512 | 66,549 | ||||||||||||
Grupo Mexico SAB de CV - Class B | 106,228 | 547,573 | ||||||||||||
Wal-Mart de Mexico SAB de CV | 74,595 | 308,106 | ||||||||||||
3,444,431 | ||||||||||||||
Peru - 0.1% | ||||||||||||||
Credicorp Ltd. | 542 | 80,449 | ||||||||||||
InRetail Peru Corp.(b) | 571 | 20,271 | ||||||||||||
Minsur S.A. | 13,190 | 14,384 | ||||||||||||
115,104 | ||||||||||||||
Philippines - 0.9% | ||||||||||||||
Aboitiz Equity Ventures, Inc. | 81,892 | 70,553 | ||||||||||||
Ayala Corp. | 10,132 | 122,206 | ||||||||||||
Ayala Land, Inc. | 233,808 | 141,626 | ||||||||||||
Bank of the Philippine Islands | 19,601 | 38,509 | ||||||||||||
BDO Unibank, Inc. | 16,919 | 43,579 | ||||||||||||
International Container Terminal Services, Inc. | 6,828 | 29,473 | ||||||||||||
JG Summit Holdings, Inc. | 86,706 | 58,990 | ||||||||||||
Jollibee Foods Corp. | 16,230 | 73,229 | ||||||||||||
PLDT, Inc. | 2,669 | 60,307 | ||||||||||||
SM Investments Corp. | 3,746 | 59,888 | ||||||||||||
SM Prime Holdings, Inc. | 76,079 | 46,287 | ||||||||||||
744,647 | ||||||||||||||
Poland - 0.9% | ||||||||||||||
Allegro.eu S.A.(a)(b) | 5,350 | 40,598 | ||||||||||||
Bank Polska Kasa Opieki S.A. | 2,677 | 103,293 | ||||||||||||
Dino Polska S.A.(a)(b) | 610 | 66,101 | ||||||||||||
ING Bank Slaski S.A.(a) | 415 | 26,118 | ||||||||||||
KGHM Polska Miedz S.A. | 1,739 | 48,837 | ||||||||||||
LPP S.A. | 9 | 34,996 | ||||||||||||
mBank S.A.(a) | 167 | 22,280 | ||||||||||||
ORLEN S.A. | 6,984 | 109,291 |
The accompanying notes are an integral part of these financial statements.
37
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Poland - 0.9% (Continued) | ||||||||||||||
PGE Polska Grupa Energetyczna S.A.(a) | 14,924 | $ | 31,576 | |||||||||||
Powszechna Kasa Oszczednosci Bank Polski S.A. | 7,765 | 98,901 | ||||||||||||
Powszechny Zaklad Ubezpieczen S.A. | 7,245 | 87,501 | ||||||||||||
Santander Bank Polska S.A. | 425 | 51,690 | ||||||||||||
721,182 | ||||||||||||||
Qatar - 1.1% | ||||||||||||||
Commercial Bank PSQC | 23,664 | 34,121 | ||||||||||||
Dukhan Bank | 51,551 | 55,487 | ||||||||||||
Industries Qatar QSC | 17,667 | 58,227 | ||||||||||||
Masraf Al Rayan QSC | 79,298 | 51,181 | ||||||||||||
Mesaieed Petrochemical Holding Co. | 127,478 | 58,820 | ||||||||||||
Ooredoo QPSC | 29,238 | 85,923 | ||||||||||||
Qatar Fuel QSC | 23,332 | 100,608 | ||||||||||||
Qatar Gas Transport Co. Ltd. | 99,385 | 94,717 | ||||||||||||
Qatar International Islamic Bank QSC | 16,873 | 48,381 | ||||||||||||
Qatar Islamic Bank SAQ | 20,295 | 108,693 | ||||||||||||
Qatar National Bank QPSC | 50,816 | 216,468 | ||||||||||||
912,626 | ||||||||||||||
Saudi Arabia - 10.1% | ||||||||||||||
ACWA Power Co. | 1,689 | 108,093 | ||||||||||||
Al Rajhi Bank | 60,474 | 1,354,582 | ||||||||||||
Alinma Bank | 29,288 | 323,721 | ||||||||||||
Almarai Co. JSC | 7,211 | 109,797 | ||||||||||||
Arab National Bank | 9,690 | 64,547 | ||||||||||||
Bank AlBilad | 6,890 | 81,943 | ||||||||||||
Banque Saudi Fransi | 11,281 | 120,327 | ||||||||||||
Bupa Arabia for Cooperative Insurance Co. | 983 | 54,155 | ||||||||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 1,096 | 84,755 | ||||||||||||
Elm Co. | 332 | 79,855 | ||||||||||||
Etihad Etisalat Co. | 6,957 | 96,653 | ||||||||||||
Jarir Marketing Co. | 25,549 | 103,828 | ||||||||||||
Mouwasat Medical Services Co. | 2,786 | 88,258 | ||||||||||||
Riyad Bank | 29,475 | 223,218 | ||||||||||||
SABIC Agri-Nutrients Co. | 3,062 | 104,677 | ||||||||||||
Sahara International Petrochemical Co. | 8,191 | 68,803 | ||||||||||||
Saudi Arabian Mining Co.(a) | 19,911 | 246,359 | ||||||||||||
Saudi Arabian Oil Co.(b) | 369,262 | 3,013,098 | ||||||||||||
Saudi Awwal Bank | 12,664 | 121,402 | ||||||||||||
Saudi Basic Industries Corp. | 14,666 | 304,653 | ||||||||||||
Saudi Electricity Co. | 22,932 | 115,941 |
The accompanying notes are an integral part of these financial statements.
38
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Saudi Arabia - 10.1% (Continued) | ||||||||||||||
Saudi Industrial Investment Group | 18,023 | $ | 97,754 | |||||||||||
Saudi National Bank | 57,708 | 624,769 | ||||||||||||
Saudi Research & Media Group(a) | 2,347 | 130,177 | ||||||||||||
Saudi Telecom Co. | 29,263 | 318,373 | ||||||||||||
Savola Group | 13,326 | 159,730 | ||||||||||||
8,199,468 | ||||||||||||||
South Africa - 2.2% | ||||||||||||||
Absa Group Ltd. | 7,723 | 67,567 | ||||||||||||
Aspen Pharmacare Holdings Ltd. | 7,950 | 82,411 | ||||||||||||
Bid Corp. Ltd. | 2,649 | 64,254 | ||||||||||||
Bidvest Group Ltd. | 4,439 | 58,522 | ||||||||||||
Capitec Bank Holdings Ltd. | 800 | 85,373 | ||||||||||||
Clicks Group Ltd. | 5,449 | 87,586 | ||||||||||||
Discovery Ltd. | 5,990 | 44,321 | ||||||||||||
Exxaro Resources Ltd. | 4,967 | 49,682 | ||||||||||||
FirstRand Ltd. | 39,714 | 144,071 | ||||||||||||
Gold Fields Ltd. | 8,469 | 125,656 | ||||||||||||
Impala Platinum Holdings Ltd. | 12,946 | 50,664 | ||||||||||||
MTN Group Ltd. | 14,575 | 74,376 | ||||||||||||
Naspers Ltd. | 1,186 | 198,732 | ||||||||||||
Nedbank Group Ltd. | 8,248 | 95,817 | ||||||||||||
Northam Platinum Holdings Ltd. | 9,313 | 62,740 | ||||||||||||
Old Mutual Ltd. | 82,133 | 54,616 | ||||||||||||
Sanlam Ltd. | 17,947 | 68,471 | ||||||||||||
Sasol Ltd. | 8,181 | 71,753 | ||||||||||||
Shoprite Holdings Ltd. | 4,509 | 65,384 | ||||||||||||
Standard Bank Group Ltd. | 11,211 | 119,605 | ||||||||||||
Woolworths Holdings Ltd. | 19,750 | 73,177 | ||||||||||||
1,744,778 | ||||||||||||||
Taiwan, Province Of China - 20.0% | ||||||||||||||
Accton Technology Corp. | 5,238 | 88,529 | ||||||||||||
Advantech Co. Ltd. | 4,777 | 51,510 | ||||||||||||
Alchip Technologies Ltd. | 1,669 | 207,962 | ||||||||||||
ASE Technology Holding Co. Ltd. | 59,346 | 257,865 | ||||||||||||
Asustek Computer, Inc. | 10,416 | 148,256 | ||||||||||||
AUO Corp. | 72,174 | 42,429 | ||||||||||||
Catcher Technology Co. Ltd. | 7,608 | 47,277 | ||||||||||||
Cathay Financial Holding Co. Ltd. | 134,427 | 189,618 | ||||||||||||
Chailease Holding Co. Ltd. | 24,174 | 134,388 | ||||||||||||
Chang Hwa Commercial Bank Ltd. | 80,803 | 45,178 |
The accompanying notes are an integral part of these financial statements.
39
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Taiwan, Province Of China - 20.0% (Continued) | ||||||||||||||
China Development Financial Holding Corp.(a) | 395,010 | $ | 152,075 | |||||||||||
China Steel Corp. | 182,213 | 146,413 | ||||||||||||
Chunghwa Telecom Co. Ltd. | 73,080 | 277,849 | ||||||||||||
Compal Electronics, Inc. | 55,987 | 64,127 | ||||||||||||
CTBC Financial Holding Co. Ltd. | 309,419 | 281,250 | ||||||||||||
Delta Electronics, Inc. | 33,193 | 296,938 | ||||||||||||
E Ink Holdings, Inc. | 10,037 | 66,701 | ||||||||||||
E.Sun Financial Holding Co. Ltd. | 228,343 | 180,562 | ||||||||||||
Eclat Textile Co. Ltd. | 2,443 | 42,695 | ||||||||||||
eMemory Technology, Inc. | 817 | 73,087 | ||||||||||||
Eva Airways Corp. | 42,060 | 42,464 | ||||||||||||
Evergreen Marine Corp. Taiwan Ltd. | 17,920 | 86,166 | ||||||||||||
Far EasTone Telecommunications Co. Ltd. | 24,587 | 63,236 | ||||||||||||
First Financial Holding Co. Ltd. | 171,545 | 145,788 | ||||||||||||
Formosa Chemicals & Fibre Corp. | 33,407 | 60,411 | ||||||||||||
Formosa Petrochemical Corp. | 13,445 | 32,045 | ||||||||||||
Formosa Plastics Corp. | 74,352 | 171,274 | ||||||||||||
Fubon Financial Holding Co. Ltd. | 133,718 | 275,558 | ||||||||||||
Gigabyte Technology Co. Ltd. | 6,794 | 67,073 | ||||||||||||
Global Unichip Corp. | 1,038 | 51,238 | ||||||||||||
Globalwafers Co. Ltd. | 2,337 | 43,231 | ||||||||||||
Hon Hai Precision Industry Co. Ltd. | 190,512 | 623,891 | ||||||||||||
Hotai Motor Co. Ltd. | 2,885 | 58,438 | ||||||||||||
Hua Nan Financial Holdings Co. Ltd. | 96,347 | 66,490 | ||||||||||||
Innolux Corp. | 101,985 | 53,274 | ||||||||||||
Inventec Corp. | 33,716 | 59,139 | ||||||||||||
Largan Precision Co. Ltd. | 978 | 77,804 | ||||||||||||
Lite-On Technology Corp. | 34,195 | 118,537 | ||||||||||||
MediaTek, Inc. | 22,437 | 692,476 | ||||||||||||
Mega Financial Holding Co. Ltd. | 167,733 | 201,765 | ||||||||||||
Micro-Star International Co. Ltd. | 8,633 | 50,199 | ||||||||||||
Nan Ya Plastics Corp. | 76,149 | 148,164 | ||||||||||||
Novatek Microelectronics Corp. | 13,694 | 223,570 | ||||||||||||
Pegatron Corp. | 21,712 | 57,368 | ||||||||||||
President Chain Store Corp. | 6,842 | 57,710 | ||||||||||||
Quanta Computer, Inc. | 45,553 | 359,481 | ||||||||||||
Realtek Semiconductor Corp. | 4,124 | 61,861 | ||||||||||||
Shanghai Commercial & Savings Bank Ltd. | 46,819 | 66,266 | ||||||||||||
Shin Kong Financial Holding Co. Ltd.(a) | 167,006 | 44,820 | ||||||||||||
SinoPac Financial Holdings Co. Ltd. | 258,433 | 158,530 | ||||||||||||
Taishin Financial Holding Co. Ltd. | 123,545 | 67,694 | ||||||||||||
Taiwan Cement Corp. | 106,041 | 108,075 |
The accompanying notes are an integral part of these financial statements.
40
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Taiwan, Province Of China - 20.0% (Continued) | ||||||||||||||
Taiwan Cooperative Financial Holding Co. Ltd. | 156,461 | $ | 127,220 | |||||||||||
Taiwan Mobile Co. Ltd. | 24,140 | 75,583 | ||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 381,314 | 7,650,767 | ||||||||||||
Unimicron Technology Corp. | 15,925 | 89,548 | ||||||||||||
Uni-President Enterprises Corp. | 74,912 | 173,282 | ||||||||||||
United Microelectronics Corp. | 207,054 | 324,147 | ||||||||||||
Voltronic Power Technology Corp. | 803 | 34,378 | ||||||||||||
Walsin Lihwa Corp. | 31,040 | 35,107 | ||||||||||||
Winbond Electronics Corp. | 3,191 | 2,773 | ||||||||||||
Wistron Corp. | 46,288 | 169,331 | ||||||||||||
Wiwynn Corp. | 940 | 66,071 | ||||||||||||
Yageo Corp. | 3,671 | 64,742 | ||||||||||||
Yang Ming Marine Transport Corp. | 28,944 | 44,249 | ||||||||||||
Yuanta Financial Holding Co. Ltd. | 191,031 | 165,095 | ||||||||||||
16,211,038 | ||||||||||||||
Thailand - 2.2% | ||||||||||||||
Advanced Info Service PCL | 10,763 | 66,439 | ||||||||||||
Airports of Thailand PCL | 42,594 | 71,735 | ||||||||||||
Bangkok Bank PCL | 20,288 | 80,632 | ||||||||||||
Bangkok Dusit Medical Services PCL | 144,401 | 111,931 | ||||||||||||
BTS Group Holdings PCL | 262,007 | 44,311 | ||||||||||||
Bumrungrad Hospital PCL | 14,656 | 99,146 | ||||||||||||
Central Pattana PCL | 63,427 | 115,761 | ||||||||||||
Central Retail Corp. PCL(b) | 73,511 | 68,896 | ||||||||||||
Charoen Pokphand Foods PCL | 95,184 | 49,903 | ||||||||||||
CP ALL PCL | 48,988 | 72,148 | ||||||||||||
Delta Electronics Thailand PCL | 58,070 | 128,899 | ||||||||||||
Energy Absolute PCL | 42,719 | 47,864 | ||||||||||||
Gulf Energy Development PCL | 45,868 | 56,240 | ||||||||||||
Home Product Center PCL | 151,206 | 44,751 | ||||||||||||
Kasikornbank PCL | 29,678 | 100,383 | ||||||||||||
Krung Thai Bank PCL | 115,658 | 51,835 | ||||||||||||
Minor International PCL | 61,806 | 53,135 | ||||||||||||
PTT Exploration & Production PCL | 14,192 | 60,004 | ||||||||||||
PTT Global Chemical PCL | 63,127 | 59,608 | ||||||||||||
PTT PCL | 177,277 | 168,645 | ||||||||||||
SCB X PCL | 26,927 | 78,935 | ||||||||||||
Siam Cement PCL | 7,319 | 55,701 | ||||||||||||
TMBThanachart Bank PCL | 1,661,839 | 83,846 | ||||||||||||
True Corp. PCL(a) | 1 | — | ||||||||||||
1,770,748 |
The accompanying notes are an integral part of these financial statements.
41
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Turkey - 0.8% | ||||||||||||||
Akbank TAS | 34,424 | $ | 44,855 | |||||||||||
BIM Birlesik Magazalar AS | 6,572 | 82,515 | ||||||||||||
Eregli Demir ve Celik Fabrikalari TAS(a) | 27,045 | 38,449 | ||||||||||||
Haci Omer Sabanci Holding AS | 14,667 | 35,091 | ||||||||||||
KOC Holding AS | 11,022 | 58,370 | ||||||||||||
Sasa Polyester Sanayi AS(a) | 11,330 | 14,375 | ||||||||||||
Turk Hava Yollari AO(a) | 7,833 | 70,405 | ||||||||||||
Turkcell Iletisim Hizmetleri AS | 34,848 | 78,722 | ||||||||||||
Turkiye Is Bankasi AS - Class C | 98,871 | 83,542 | ||||||||||||
Turkiye Petrol Rafinerileri AS | 9,607 | 47,489 | ||||||||||||
Turkiye Sise ve Cam Fabrikalari AS | 18,792 | 30,530 | ||||||||||||
Yapi ve Kredi Bankasi AS | 96,223 | 69,254 | ||||||||||||
653,597 | ||||||||||||||
United Arab Emirates - 4.1% | ||||||||||||||
Abu Dhabi Commercial Bank PJSC | 63,985 | 156,785 | ||||||||||||
Abu Dhabi Islamic Bank PJSC | 43,716 | 133,304 | ||||||||||||
Abu Dhabi National Energy Co. PJSC | 141,084 | 120,997 | ||||||||||||
Abu Dhabi National Oil Co. PJSC | 84,335 | 81,512 | ||||||||||||
Abu Dhabi Ports Co. PJSC(a) | 25,700 | 43,452 | ||||||||||||
ADNOC Drilling Co. PJSC | 51,627 | 51,586 | ||||||||||||
Aldar Properties PJSC | 123,024 | 170,822 | ||||||||||||
Alpha Dhabi Holding PJSC(a) | 33,243 | 160,742 | ||||||||||||
Americana Restaurants International PLC | 83,930 | 71,066 | ||||||||||||
Dubai Electricity & Water Authority PJSC | 291,811 | 199,416 | ||||||||||||
Dubai Islamic Bank PJSC | 123,086 | 211,793 | ||||||||||||
Emaar Development PJSC | 24,451 | 46,333 | ||||||||||||
Emaar Properties PJSC | 78,392 | 158,579 | ||||||||||||
Emirates Central Cooling Systems Corp. | 58,667 | 27,952 | ||||||||||||
Emirates Integrated Telecommunications Co. PJSC | 26,753 | 41,153 | ||||||||||||
Emirates NBD Bank PJSC | 30,734 | 148,108 | ||||||||||||
Emirates Telecommunications Group Co. PJSC | 55,290 | 288,723 | ||||||||||||
First Abu Dhabi Bank PJSC | 81,122 | 323,344 | ||||||||||||
International Holding Co. PJSC(a) | 5,971 | 649,779 | ||||||||||||
Multiply Group PJSC(a) | 109,638 | 86,267 | ||||||||||||
National Marine Dredging Co.(a) | 5,846 | 48,067 | ||||||||||||
Presight AI Holding PLC(a) | 41,131 | 21,837 | ||||||||||||
Salik Co. PJSC | 54,780 | 51,753 | ||||||||||||
3,293,370 | ||||||||||||||
United Kingdom - 0.1% | ||||||||||||||
Anglogold Ashanti PLC | 6,335 | 114,377 |
The accompanying notes are an integral part of these financial statements.
42
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
United States - 0.1% | ||||||||||||||
Southern Copper Corp. | 1,032 | $ | 84,727 | |||||||||||
TOTAL COMMON STOCKS (Cost $72,061,726) | 78,466,216 | |||||||||||||
PREFERRED STOCKS - 3.0% | ||||||||||||||
Brazil - 2.1% | ||||||||||||||
Banco Bradesco S.A., 0.00%, | 83,087 | 257,593 | ||||||||||||
Companhia Paranaense de Energia, 0.00%, | 14,708 | 30,102 | ||||||||||||
Gerdau S.A., 0.00%, | 29,500 | 125,457 | ||||||||||||
Itau Unibanco Holding S.A., 0.00%, | 78,839 | 523,058 | ||||||||||||
Itausa S.A., 0.00%, | 80,674 | 163,484 | ||||||||||||
Klabin S.A., 0.00%, | 45,211 | 39,148 | ||||||||||||
Petroleo Brasileiro S.A., 0.00%, | 74,071 | 609,235 | ||||||||||||
1,748,077 | ||||||||||||||
Chile - 0.1% | ||||||||||||||
Sociedad Quimica y Minera de Chile S.A., 0.00%, | 1,888 | 81,831 | ||||||||||||
Colombia - 0.1% | ||||||||||||||
Bancolombia S.A., 0.00%, | 6,309 | 49,708 | ||||||||||||
Republic Of Korea - 0.7% | ||||||||||||||
Samsung Electronics Co. Ltd., 0.00%, | 12,999 | 571,716 | ||||||||||||
TOTAL PREFERRED STOCKS (Cost $2,339,519) | 2,451,332 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 0.2% | ||||||||||||||
Mexico - 0.2% | ||||||||||||||
Fibra Uno Administracion SAB de CV | 77,905 | 132,305 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $111,864) | 132,305 | |||||||||||||
RIGHTS - 0.0%(d) | Contracts | |||||||||||||
Brazil - 0.0%(d) | ||||||||||||||
Localiza Rent a Car S.A., Expires 02/06/2024, Exercise Price $45.35(a) | 40 | 81 | ||||||||||||
Taiwan, Province Of China - 0.0%(d) | ||||||||||||||
Mega Financial Holding Co. Ltd., Expires 02/05/2024, Exercise Price $33.00(a) | 2,858 | 424 | ||||||||||||
TOTAL RIGHTS (Cost $591) | 505 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
43
STRIVE EMERGING MARKETS EX-CHINA ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 1.3% | Shares | Value | ||||||||||||
Money Market Funds - 1.3% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(e) | 1,037,130 | $ | 1,037,130 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,037,130) | 1,037,130 | |||||||||||||
TOTAL INVESTMENTS - 101.2% (Cost $75,550,830) | $ | 82,087,488 | ||||||||||||
Liabilities in Excess of Other Assets - (1.2)% | (957,356) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 81,130,132 |
Percentages are stated as a percent of net assets.
PLC - Public Limited Company | ||
SA - Sociedad Anónima | ||
SAB de CV - Sociedad Anónima Bursátil de Capital Variable |
(a) | Non-income producing security. | |||||||
(b) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of January 31, 2024, the value of these securities total $4,072,888 or 5.0% of the Fund’s net assets. | |||||||
(c) | To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region. | |||||||
(d) | Represents less than 0.05% of net assets. | |||||||
(e) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
44
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% | Shares | Value | ||||||||||||
Advertising - 0.1% | ||||||||||||||
Interpublic Group of Cos., Inc. | 809 | $ | 26,689 | |||||||||||
Aerospace & Defense - 2.0% | ||||||||||||||
BWX Technologies, Inc. | 194 | 15,807 | ||||||||||||
Curtiss-Wright Corp. | 81 | 18,028 | ||||||||||||
General Dynamics Corp. | 495 | 131,170 | ||||||||||||
HEICO Corp. - Class A | 157 | 22,211 | ||||||||||||
HEICO Corp. | 90 | 16,163 | ||||||||||||
Huntington Ingalls Industries, Inc. | 83 | 21,490 | ||||||||||||
L3Harris Technologies, Inc. | 401 | 83,576 | ||||||||||||
Lockheed Martin Corp. | 520 | 223,294 | ||||||||||||
Northrop Grumman Corp. | 284 | 126,880 | ||||||||||||
658,619 | ||||||||||||||
Agricultural & Farm Machinery - 0.1% | ||||||||||||||
AGCO Corp. | 133 | 16,270 | ||||||||||||
Toro Co. | 212 | 19,606 | ||||||||||||
35,876 | ||||||||||||||
Air Freight & Logistics - 0.8% | ||||||||||||||
Expeditors International of Washington, Inc. | 314 | 39,668 | ||||||||||||
United Parcel Service, Inc. - Class B | 1,541 | 218,668 | ||||||||||||
258,336 | ||||||||||||||
Application Software - 1.5% | ||||||||||||||
Intuit, Inc. | 581 | 366,803 | ||||||||||||
Roper Technologies, Inc. | 226 | 121,362 | ||||||||||||
488,165 | ||||||||||||||
Asset Management & Custody Banks - 1.0% | ||||||||||||||
Ameriprise Financial, Inc. | 217 | 83,942 | ||||||||||||
BlackRock, Inc. | 283 | 219,130 | ||||||||||||
SEI Investments Co. | 257 | 16,253 | ||||||||||||
319,325 | ||||||||||||||
Biotechnology - 3.6% | ||||||||||||||
AbbVie, Inc. | 3,758 | 617,815 | ||||||||||||
Amgen, Inc. | 1,138 | 357,628 | ||||||||||||
Gilead Sciences, Inc. | 2,566 | 200,815 | ||||||||||||
1,176,258 | ||||||||||||||
Broadcasting - 0.0%(a) | ||||||||||||||
Nexstar Media Group, Inc. - Class A | 71 | 12,617 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
45
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Broadline Retail - 0.0%(a) | ||||||||||||||
Dillard's, Inc. - Class A | 7 | $ | 2,711 | |||||||||||
Building Products - 0.9% | ||||||||||||||
A.O. Smith Corp. | 263 | 20,411 | ||||||||||||
Advanced Drainage Systems, Inc. | 161 | 20,998 | ||||||||||||
Allegion PLC | 186 | 23,044 | ||||||||||||
Carlisle Cos., Inc. | 106 | 33,311 | ||||||||||||
Fortune Brands Innovations, Inc. | 269 | 20,872 | ||||||||||||
Lennox International, Inc. | 66 | 28,259 | ||||||||||||
Masco Corp. | 477 | 32,097 | ||||||||||||
Trane Technologies PLC | 485 | 122,244 | ||||||||||||
301,236 | ||||||||||||||
Cable & Satellite - 0.0%(a) | ||||||||||||||
Cable One, Inc. | 10 | 5,489 | ||||||||||||
Sirius XM Holdings, Inc. | 1,358 | 6,913 | ||||||||||||
12,402 | ||||||||||||||
Cargo Ground Transportation - 0.4% | ||||||||||||||
JB Hunt Transport Services, Inc. | 174 | 34,971 | ||||||||||||
Landstar System, Inc. | 76 | 14,571 | ||||||||||||
Old Dominion Freight Line, Inc. | 203 | 79,376 | ||||||||||||
128,918 | ||||||||||||||
Casinos & Gaming - 0.1% | ||||||||||||||
Churchill Downs, Inc. | 142 | 17,178 | ||||||||||||
Communications Equipment - 1.5% | ||||||||||||||
Cisco Systems, Inc. | 7,900 | 396,422 | ||||||||||||
Motorola Solutions, Inc. | 355 | 113,423 | ||||||||||||
509,845 | ||||||||||||||
Construction Machinery & Heavy Transportation Equipment - 1.0% | ||||||||||||||
Caterpillar, Inc. | 1,086 | 326,136 | ||||||||||||
Oshkosh Corp. | 138 | 15,194 | ||||||||||||
341,330 | ||||||||||||||
Construction Machinery & Heavy Trucks - 0.2% | ||||||||||||||
Cummins, Inc. | 301 | 72,029 | ||||||||||||
Construction Materials - 0.4% | ||||||||||||||
Martin Marietta Materials, Inc. | 131 | 66,603 | ||||||||||||
Vulcan Materials Co. | 268 | 60,571 | ||||||||||||
127,174 |
The accompanying notes are an integral part of these financial statements.
46
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Consumer Electronics - 0.1% | ||||||||||||||
Garmin Ltd. | 327 | $ | 39,073 | |||||||||||
Consumer Staples Merchandise Retail - 2.6% | ||||||||||||||
Costco Wholesale Corp. | 942 | 654,577 | ||||||||||||
Dollar General Corp. | 467 | 61,677 | ||||||||||||
Target Corp. | 962 | 133,795 | ||||||||||||
850,049 | ||||||||||||||
Data Processing & Outsourced Services - 0.2% | ||||||||||||||
Broadridge Financial Solutions, Inc. | 249 | 50,846 | ||||||||||||
Genpact Ltd. | 383 | 13,750 | ||||||||||||
SS&C Technologies Holdings, Inc. | 445 | 27,154 | ||||||||||||
91,750 | ||||||||||||||
Distillers & Vintners - 0.4% | ||||||||||||||
Brown-Forman Corp. - Class B | 649 | 35,630 | ||||||||||||
Constellation Brands, Inc. - Class A | 343 | 84,063 | ||||||||||||
119,693 | ||||||||||||||
Distributors - 0.2% | ||||||||||||||
Genuine Parts Co. | 293 | 41,088 | ||||||||||||
Pool Corp. | 81 | 30,071 | ||||||||||||
71,159 | ||||||||||||||
Diversified Banks - 0.1% | ||||||||||||||
First Citizens BancShares, Inc. - Class A | 22 | 33,220 | ||||||||||||
Electric Utilities - 1.5% | ||||||||||||||
Alliant Energy Corp. | 537 | 26,130 | ||||||||||||
American Electric Power Co., Inc. | 1,062 | 82,985 | ||||||||||||
Eversource Energy | 738 | 40,014 | ||||||||||||
IDACORP, Inc. | 107 | 9,906 | ||||||||||||
NextEra Energy, Inc. | 4,310 | 252,696 | ||||||||||||
PNM Resources, Inc. | 181 | 6,558 | ||||||||||||
Xcel Energy, Inc. | 1,135 | 67,952 | ||||||||||||
486,241 | ||||||||||||||
Electrical Components & Equipment - 1.0% | ||||||||||||||
Eaton Corp. PLC | 821 | 202,032 | ||||||||||||
Hubbell, Inc. | 112 | 37,584 | ||||||||||||
Regal Rexnord Corp. | 141 | 18,818 | ||||||||||||
Rockwell Automation, Inc. | 239 | 60,534 | ||||||||||||
318,968 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
47
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Electronic Components - 0.6% | ||||||||||||||
Amphenol Corp. - Class A | 1,223 | $ | 123,645 | |||||||||||
Corning, Inc. | 1,642 | 53,349 | ||||||||||||
Littelfuse, Inc. | 52 | 12,579 | ||||||||||||
189,573 | ||||||||||||||
Electronic Equipment & Instruments - 0.0%(a) | ||||||||||||||
Cognex Corp. | 366 | 13,227 | ||||||||||||
Electronic Manufacturing Services - 0.3% | ||||||||||||||
TE Connectivity Ltd. | 648 | 92,139 | ||||||||||||
Environmental & Facilities Services - 0.9% | ||||||||||||||
Republic Services, Inc. | 440 | 75,293 | ||||||||||||
Tetra Tech, Inc. | 112 | 17,716 | ||||||||||||
Veralto Corp. | 493 | 37,808 | ||||||||||||
Waste Management, Inc. | 835 | 155,001 | ||||||||||||
285,818 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.0%(a) | ||||||||||||||
FMC Corp. | 264 | 14,837 | ||||||||||||
Financial Exchanges & Data - 3.0% | ||||||||||||||
Cboe Global Markets, Inc. | 224 | 41,182 | ||||||||||||
CME Group, Inc. | 737 | 151,704 | ||||||||||||
FactSet Research Systems, Inc. | 81 | 38,550 | ||||||||||||
Intercontinental Exchange, Inc. | 1,258 | 160,181 | ||||||||||||
MarketAxess Holdings, Inc. | 79 | 17,815 | ||||||||||||
Moody's Corp. | 325 | 127,413 | ||||||||||||
Morningstar, Inc. | 56 | 15,641 | ||||||||||||
MSCI, Inc. | 159 | 95,181 | ||||||||||||
Nasdaq, Inc. | 849 | 49,047 | ||||||||||||
S&P Global, Inc. | 677 | 303,532 | ||||||||||||
1,000,246 | ||||||||||||||
Food Distributors - 0.3% | ||||||||||||||
Sysco Corp. | 1,034 | 83,682 | ||||||||||||
Food Retail - 0.1% | ||||||||||||||
Casey's General Stores, Inc. | 79 | 21,437 | ||||||||||||
Footwear - 0.8% | ||||||||||||||
Nike, Inc. - Class B | 2,573 | 261,237 |
The accompanying notes are an integral part of these financial statements.
48
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Gas Utilities - 0.1% | ||||||||||||||
Atmos Energy Corp. | 316 | $ | 36,005 | |||||||||||
Gold - 0.0%(a) | ||||||||||||||
Royal Gold, Inc. | 140 | 16,015 | ||||||||||||
Health Care Equipment - 3.1% | ||||||||||||||
Abbott Laboratories | 3,679 | 416,280 | ||||||||||||
Baxter International, Inc. | 1,076 | 41,630 | ||||||||||||
Medtronic PLC | 2,834 | 248,087 | ||||||||||||
STERIS PLC | 210 | 45,980 | ||||||||||||
Stryker Corp. | 705 | 236,513 | ||||||||||||
988,490 | ||||||||||||||
Health Care Services - 0.2% | ||||||||||||||
Chemed Corp. | 32 | 18,969 | ||||||||||||
Quest Diagnostics, Inc. | 238 | 30,567 | ||||||||||||
49,536 | ||||||||||||||
Home Improvement Retail - 3.1% | ||||||||||||||
Home Depot, Inc. | 2,130 | 751,805 | ||||||||||||
Lowe's Cos., Inc. | 1,224 | 260,516 | ||||||||||||
1,012,321 | ||||||||||||||
Household Products - 2.7% | ||||||||||||||
Church & Dwight Co., Inc. | 524 | 52,321 | ||||||||||||
Clorox Co. | 263 | 38,201 | ||||||||||||
Procter & Gamble Co. | 5,020 | 788,843 | ||||||||||||
879,365 | ||||||||||||||
Human Resource & Employment Services - 0.9% | ||||||||||||||
Automatic Data Processing, Inc. | 850 | 208,913 | ||||||||||||
Paychex, Inc. | 667 | 81,194 | ||||||||||||
Robert Half, Inc. | 222 | 17,658 | ||||||||||||
307,765 | ||||||||||||||
Independent Power Producers & Energy Traders - 0.1% | ||||||||||||||
AES Corp. | 1,397 | 23,302 | ||||||||||||
Industrial Conglomerates - 0.9% | ||||||||||||||
Honeywell International, Inc. | 1,411 | 285,389 | ||||||||||||
Industrial Gases - 0.4% | ||||||||||||||
Air Products and Chemicals, Inc. | 472 | 120,695 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
49
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Industrial Machinery & Supplies & Components - 1.7% | ||||||||||||||
Donaldson Co., Inc. | 254 | $ | 16,406 | |||||||||||
Dover Corp. | 288 | 43,137 | ||||||||||||
Graco, Inc. | 356 | 30,367 | ||||||||||||
IDEX Corp. | 161 | 34,052 | ||||||||||||
Illinois Tool Works, Inc. | 599 | 156,278 | ||||||||||||
ITT, Inc. | 174 | 21,016 | ||||||||||||
Lincoln Electric Holdings, Inc. | 121 | 26,889 | ||||||||||||
Nordson Corp. | 109 | 27,437 | ||||||||||||
Parker-Hannifin Corp. | 273 | 126,809 | ||||||||||||
Snap-on, Inc. | 110 | 31,892 | ||||||||||||
Xylem, Inc. | 512 | 57,569 | ||||||||||||
571,852 | ||||||||||||||
Insurance Brokers - 1.5% | ||||||||||||||
Aon PLC - Class A | 399 | 119,074 | ||||||||||||
Arthur J. Gallagher & Co. | 454 | 105,401 | ||||||||||||
Brown & Brown, Inc. | 498 | 38,625 | ||||||||||||
Marsh & McLennan Cos., Inc. | 1,021 | 197,910 | ||||||||||||
Willis Towers Watson PLC | 218 | 53,693 | ||||||||||||
514,703 | ||||||||||||||
Integrated Oil & Gas - 1.7% | ||||||||||||||
Chevron Corp. | 3,723 | 548,882 | ||||||||||||
Investment Banking & Brokerage - 0.2% | ||||||||||||||
Houlihan Lokey, Inc. | 107 | 12,816 | ||||||||||||
Raymond James Financial, Inc. | 401 | 44,183 | ||||||||||||
56,999 | ||||||||||||||
IT Consulting & Other Services - 0.1% | ||||||||||||||
Amdocs Ltd. | 254 | 23,287 | ||||||||||||
Life & Health Insurance - 0.4% | ||||||||||||||
Aflac, Inc. | 1,254 | 105,763 | ||||||||||||
Globe Life, Inc. | 192 | 23,581 | ||||||||||||
Primerica, Inc. | 76 | 17,796 | ||||||||||||
147,140 | ||||||||||||||
Life Sciences Tools & Services - 2.8% | ||||||||||||||
Agilent Technologies, Inc. | 621 | 80,792 | ||||||||||||
Danaher Corp. | 1,437 | 344,751 |
The accompanying notes are an integral part of these financial statements.
50
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Life Sciences Tools & Services - 2.8% (Continued) | ||||||||||||||
Thermo Fisher Scientific, Inc. | 818 | $ | 440,885 | |||||||||||
West Pharmaceutical Services, Inc. | 152 | 56,701 | ||||||||||||
923,129 | ||||||||||||||
Managed Health Care - 4.1% | ||||||||||||||
Elevance Health, Inc. | 485 | 239,318 | ||||||||||||
Humana, Inc. | 256 | 96,783 | ||||||||||||
UnitedHealth Group, Inc. | 1,968 | 1,007,105 | ||||||||||||
1,343,206 | ||||||||||||||
Metal, Glass & Plastic Containers - 0.1% | ||||||||||||||
Ball Corp. | 668 | 37,041 | ||||||||||||
Multi-Utilities - 0.7% | ||||||||||||||
Ameren Corp. | 556 | 38,681 | ||||||||||||
CMS Energy Corp. | 619 | 35,382 | ||||||||||||
Sempra | 1,300 | 93,028 | ||||||||||||
WEC Energy Group, Inc. | 649 | 52,413 | ||||||||||||
219,504 | ||||||||||||||
Office Services & Supplies - 0.0%(a) | ||||||||||||||
MSA Safety, Inc. | 79 | 13,037 | ||||||||||||
Oil & Gas Exploration & Production - 0.9% | ||||||||||||||
ConocoPhillips | 2,548 | 285,045 | ||||||||||||
Texas Pacific Land Corp. | 13 | 18,997 | ||||||||||||
304,042 | ||||||||||||||
Other Specialty Retail - 0.2% | ||||||||||||||
Dick's Sporting Goods, Inc. | 126 | 18,783 | ||||||||||||
Tractor Supply Co. | 232 | 52,107 | ||||||||||||
70,890 | ||||||||||||||
Packaged Foods & Meats - 1.2% | ||||||||||||||
Flowers Foods, Inc. | 372 | 8,482 | ||||||||||||
Hershey Co. | 314 | 60,772 | ||||||||||||
Hormel Foods Corp. | 609 | 18,495 | ||||||||||||
J.M. Smucker Co. | 216 | 28,415 | ||||||||||||
Lamb Weston Holdings, Inc. | 310 | 31,756 | ||||||||||||
Lancaster Colony Corp. | 41 | 7,535 | ||||||||||||
McCormick & Co., Inc. | 513 | 34,966 | ||||||||||||
Mondelez International, Inc. - Class A | 2,807 | 211,283 | ||||||||||||
401,704 |
The accompanying notes are an integral part of these financial statements.
51
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Paper & Plastic Packaging Products & Materials - 0.1% | ||||||||||||||
Avery Dennison Corp. | 170 | $ | 33,907 | |||||||||||
Pharmaceuticals - 10.0% | ||||||||||||||
Bristol-Myers Squibb Co. | 4,332 | 211,705 | ||||||||||||
Eli Lilly & Co. | 1,808 | 1,167,262 | ||||||||||||
Johnson & Johnson | 5,115 | 812,773 | ||||||||||||
Merck & Co., Inc. | 5,387 | 650,642 | ||||||||||||
Pfizer, Inc. | 12,030 | 325,772 | ||||||||||||
Zoetis, Inc. | 871 | 163,583 | ||||||||||||
3,331,737 | ||||||||||||||
Property & Casualty Insurance - 0.9% | ||||||||||||||
Allstate Corp. | 533 | 82,748 | ||||||||||||
Cincinnati Financial Corp. | 327 | 36,232 | ||||||||||||
Erie Indemnity Co. - Class A | 54 | 18,675 | ||||||||||||
Kinsale Capital Group, Inc. | 47 | 18,686 | ||||||||||||
Selective Insurance Group, Inc. | 127 | 13,317 | ||||||||||||
Travelers Cos., Inc. | 473 | 99,973 | ||||||||||||
W R Berkley Corp. | 401 | 32,834 | ||||||||||||
302,465 | ||||||||||||||
Rail Transportation - 1.7% | ||||||||||||||
CSX Corp. | 4,134 | 147,584 | ||||||||||||
Norfolk Southern Corp. | 470 | 110,563 | ||||||||||||
Union Pacific Corp. | 1,277 | 311,498 | ||||||||||||
569,645 | ||||||||||||||
Regional Banks - 0.1% | ||||||||||||||
Commerce Bancshares, Inc. | 254 | 13,238 | ||||||||||||
Cullen/Frost Bankers, Inc. | 126 | 13,372 | ||||||||||||
First Financial Bankshares, Inc. | 292 | 9,119 | ||||||||||||
35,729 | ||||||||||||||
Renewable Electricity - 0.0%(a) | ||||||||||||||
NextEra Energy Partners LP | 198 | 5,910 | ||||||||||||
Research & Consulting Services - 0.1% | ||||||||||||||
Booz Allen Hamilton Holding Corp. | 268 | 37,726 | ||||||||||||
Restaurants - 2.4% | ||||||||||||||
Domino's Pizza, Inc. | 74 | 31,540 | ||||||||||||
McDonald's Corp. | 1,553 | 454,594 |
The accompanying notes are an integral part of these financial statements.
52
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Restaurants - 2.4% (Continued) | ||||||||||||||
Starbucks Corp. | 2,331 | $ | 216,853 | |||||||||||
Yum! Brands, Inc. | 579 | 74,975 | ||||||||||||
777,962 | ||||||||||||||
Semiconductor Materials & Equipment - 2.1% | ||||||||||||||
Applied Materials, Inc. | 1,775 | 291,633 | ||||||||||||
KLA Corp. | 284 | 168,707 | ||||||||||||
Lam Research Corp. | 276 | 227,747 | ||||||||||||
688,087 | ||||||||||||||
Semiconductors - 6.2% | ||||||||||||||
Analog Devices, Inc. | 1,032 | 198,516 | ||||||||||||
Broadcom, Inc. | 860 | 1,014,799 | ||||||||||||
Microchip Technology, Inc. | 1,111 | 94,635 | ||||||||||||
Monolithic Power Systems, Inc. | 97 | 58,464 | ||||||||||||
QUALCOMM, Inc. | 2,377 | 353,007 | ||||||||||||
Skyworks Solutions, Inc. | 339 | 35,412 | ||||||||||||
Texas Instruments, Inc. | 1,933 | 309,512 | ||||||||||||
Universal Display Corp. | 93 | 15,789 | ||||||||||||
2,080,134 | ||||||||||||||
Soft Drinks & Non-alcoholic Beverages - 1.5% | ||||||||||||||
PepsiCo, Inc. | 2,925 | 492,950 | ||||||||||||
Specialized Consumer Services - 0.1% | ||||||||||||||
Service Corp. International | 310 | 20,807 | ||||||||||||
Specialty Chemicals - 1.1% | ||||||||||||||
Ashland, Inc. | 100 | 9,362 | ||||||||||||
Ecolab, Inc. | 540 | 107,039 | ||||||||||||
PPG Industries, Inc. | 502 | 70,802 | ||||||||||||
RPM International, Inc. | 274 | 29,225 | ||||||||||||
Sherwin-Williams Co. | 488 | 148,537 | ||||||||||||
364,965 | ||||||||||||||
Systems Software - 6.2% | ||||||||||||||
Dolby Laboratories, Inc. - Class A | 124 | 10,314 | ||||||||||||
Microsoft Corp. | 4,280 | 1,701,642 | ||||||||||||
Oracle Corp. | 3,383 | 377,881 | ||||||||||||
2,089,837 | ||||||||||||||
Technology Distributors - 0.2% | ||||||||||||||
CDW Corp. | 285 | 64,615 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
53
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.4% (Continued) | Shares | Value | ||||||||||||
Technology Hardware, Storage & Peripherals - 4.8% | ||||||||||||||
Apple, Inc. | 8,310 | $ | 1,532,364 | |||||||||||
NetApp, Inc. | 444 | 38,717 | ||||||||||||
1,571,081 | ||||||||||||||
Trading Companies & Distributors - 0.6% | ||||||||||||||
Fastenal Co. | 1,216 | 82,968 | ||||||||||||
Watsco, Inc. | 71 | 27,760 | ||||||||||||
WW Grainger, Inc. | 97 | 86,876 | ||||||||||||
197,604 | ||||||||||||||
Transaction & Payment Processing Services - 5.3% | ||||||||||||||
Jack Henry & Associates, Inc. | 149 | 24,709 | ||||||||||||
Mastercard, Inc. - Class A | 1,773 | 796,485 | ||||||||||||
Visa, Inc. - Class A | 3,378 | 923,071 | ||||||||||||
1,744,265 | ||||||||||||||
Water Utilities - 0.2% | ||||||||||||||
American Water Works Co., Inc. | 401 | 49,732 | ||||||||||||
Essential Utilities, Inc. | 516 | 18,504 | ||||||||||||
68,236 | ||||||||||||||
TOTAL COMMON STOCKS (Cost $28,834,060) | 31,833,018 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 3.1% | ||||||||||||||
Agree Realty Corp. | 211 | 12,578 | ||||||||||||
American Tower Corp. | 959 | 187,628 | ||||||||||||
Crown Castle, Inc. | 893 | 96,667 | ||||||||||||
CubeSmart | 476 | 20,573 | ||||||||||||
Digital Realty Trust, Inc. | 645 | 90,597 | ||||||||||||
EastGroup Properties, Inc. | 97 | 17,211 | ||||||||||||
Equinix, Inc. | 192 | 159,316 | ||||||||||||
Equity LifeStyle Properties, Inc. | 353 | 23,895 | ||||||||||||
Extra Space Storage, Inc. | 446 | 64,420 | ||||||||||||
First Industrial Realty Trust, Inc. | 281 | 14,477 | ||||||||||||
Mid-America Apartment Communities, Inc. | 239 | 30,205 | ||||||||||||
National Storage Affiliates Trust | 176 | 6,574 | ||||||||||||
Prologis, Inc. | 1,964 | 248,818 | ||||||||||||
Rexford Industrial Realty, Inc. | 448 | 23,560 | ||||||||||||
Sun Communities, Inc. | 261 | 32,716 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $990,856) | 1,029,235 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
54
STRIVE 1000 DIVIDEND GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 0.4% | Shares | Value | ||||||||||||
Money Market Funds - 0.4% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(b) | 128,866 | $ | 128,866 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $128,866) | 128,866 | |||||||||||||
TOTAL INVESTMENTS - 99.9% (Cost $29,953,782) | $ | 32,991,119 | ||||||||||||
Other Assets in Excess of Liabilities - 0.1% | 23,430 | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 33,014,549 |
Percentages are stated as a percent of net assets. |
PLC - Public Limited Company |
(a) | Represents less than 0.05% of net assets. | |||||||
(b) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
55
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% | Shares | Value | ||||||||||||
Advertising - 0.1% | ||||||||||||||
Interpublic Group of Cos., Inc. | 72 | $ | 2,375 | |||||||||||
Trade Desk, Inc. - Class A(a) | 648 | 44,343 | ||||||||||||
46,718 | ||||||||||||||
Aerospace & Defense - 1.1% | ||||||||||||||
Axon Enterprise, Inc.(a) | 95 | 23,661 | ||||||||||||
Boeing Co.(a) | 939 | 198,167 | ||||||||||||
BWX Technologies, Inc. | 96 | 7,822 | ||||||||||||
Curtiss-Wright Corp. | 34 | 7,567 | ||||||||||||
General Dynamics Corp. | 52 | 13,779 | ||||||||||||
HEICO Corp. - Class A | 102 | 14,430 | ||||||||||||
HEICO Corp. | 53 | 9,518 | ||||||||||||
Hexcel Corp. | 56 | 3,718 | ||||||||||||
Howmet Aerospace, Inc. | 237 | 13,334 | ||||||||||||
Huntington Ingalls Industries, Inc. | 22 | 5,696 | ||||||||||||
L3Harris Technologies, Inc. | 119 | 24,802 | ||||||||||||
Lockheed Martin Corp. | 151 | 64,841 | ||||||||||||
Northrop Grumman Corp. | 87 | 38,868 | ||||||||||||
Textron, Inc. | 26 | 2,202 | ||||||||||||
TransDigm Group, Inc. | 72 | 78,673 | ||||||||||||
Woodward, Inc. | 35 | 4,822 | ||||||||||||
511,900 | ||||||||||||||
Agricultural & Farm Machinery - 0.3% | ||||||||||||||
Deere & Co. | 367 | 144,444 | ||||||||||||
Toro Co. | 154 | 14,242 | ||||||||||||
158,686 | ||||||||||||||
Agricultural Products & Services - 0.0%(b) | ||||||||||||||
Darling Ingredients, Inc.(a) | 210 | 9,093 | ||||||||||||
Air Freight & Logistics - 0.2% | ||||||||||||||
CH Robinson Worldwide, Inc. | 4 | 336 | ||||||||||||
Expeditors International of Washington, Inc. | 203 | 25,645 | ||||||||||||
GXO Logistics, Inc.(a) | 108 | 5,873 | ||||||||||||
United Parcel Service, Inc. - Class B | 300 | 42,570 | ||||||||||||
74,424 | ||||||||||||||
Alternative Carriers - 0.0%(b) | ||||||||||||||
Iridium Communications, Inc. | 163 | 5,910 |
The accompanying notes are an integral part of these financial statements.
56
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Apparel Retail - 0.5% | ||||||||||||||
Burlington Stores, Inc.(a) | 90 | $ | 17,204 | |||||||||||
Ross Stores, Inc. | 420 | 58,918 | ||||||||||||
TJX Cos., Inc. | 1,742 | 165,332 | ||||||||||||
241,454 | ||||||||||||||
Apparel, Accessories & Luxury Goods - 0.2% | ||||||||||||||
Columbia Sportswear Co. | 19 | 1,506 | ||||||||||||
Lululemon Athletica, Inc.(a) | 180 | 81,687 | ||||||||||||
Ralph Lauren Corp. | 13 | 1,868 | ||||||||||||
Tapestry, Inc. | 40 | 1,552 | ||||||||||||
86,613 | ||||||||||||||
Application Software - 4.7% | ||||||||||||||
Adobe, Inc.(a) | 720 | 444,802 | ||||||||||||
ANSYS, Inc.(a) | 138 | 45,241 | ||||||||||||
Appfolio, Inc. - Class A(a) | 23 | 5,043 | ||||||||||||
AppLovin Corp. - Class A(a) | 276 | 11,352 | ||||||||||||
Aspen Technology, Inc.(a) | 27 | 5,184 | ||||||||||||
Atlassian Corp. - Class A(a) | 255 | 63,691 | ||||||||||||
Autodesk, Inc.(a) | 324 | 82,234 | ||||||||||||
Bentley Systems, Inc. - Class B | 324 | 16,330 | ||||||||||||
BILL Holdings, Inc.(a) | 148 | 11,551 | ||||||||||||
Cadence Design Systems, Inc.(a) | 414 | 119,422 | ||||||||||||
CCC Intelligent Solutions Holdings, Inc.(a) | 174 | 1,912 | ||||||||||||
Confluent, Inc. - Class A(a) | 282 | 6,306 | ||||||||||||
Datadog, Inc. - Class A(a) | 462 | 57,491 | ||||||||||||
DocuSign, Inc.(a) | 300 | 18,276 | ||||||||||||
DoubleVerify Holdings, Inc.(a) | 181 | 7,242 | ||||||||||||
Dropbox, Inc. - Class A(a) | 414 | 13,116 | ||||||||||||
Dynatrace, Inc.(a) | 353 | 20,121 | ||||||||||||
Elastic NV(a) | 105 | 12,291 | ||||||||||||
Fair Isaac Corp.(a) | 32 | 38,363 | ||||||||||||
Five9, Inc.(a) | 96 | 7,283 | ||||||||||||
Guidewire Software, Inc.(a) | 55 | 6,142 | ||||||||||||
HashiCorp, Inc. - Class A(a) | 150 | 3,279 | ||||||||||||
HubSpot, Inc.(a) | 75 | 45,825 | ||||||||||||
Intuit, Inc. | 428 | 270,209 | ||||||||||||
Manhattan Associates, Inc.(a) | 81 | 19,647 | ||||||||||||
Nutanix, Inc. - Class A(a) | 324 | 18,209 | ||||||||||||
Palantir Technologies, Inc. - Class A(a) | 2,858 | 45,985 | ||||||||||||
Pegasystems, Inc. | 56 | 2,729 | ||||||||||||
Procore Technologies, Inc.(a) | 112 | 7,996 |
The accompanying notes are an integral part of these financial statements.
57
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Application Software - 4.7% (Continued) | ||||||||||||||
PTC, Inc.(a) | 162 | $ | 29,265 | |||||||||||
RingCentral, Inc. - Class A(a) | 138 | 4,677 | ||||||||||||
Roper Technologies, Inc. | 150 | 80,550 | ||||||||||||
Salesforce, Inc.(a) | 1,481 | 416,294 | ||||||||||||
Samsara, Inc. - Class A(a) | 211 | 6,625 | ||||||||||||
Smartsheet, Inc. - Class A(a) | 186 | 8,364 | ||||||||||||
Splunk, Inc.(a) | 234 | 35,889 | ||||||||||||
SPS Commerce, Inc.(a) | 48 | 8,822 | ||||||||||||
Synopsys, Inc.(a) | 222 | 118,404 | ||||||||||||
Tyler Technologies, Inc.(a) | 70 | 29,593 | ||||||||||||
Unity Software, Inc.(a) | 372 | 12,053 | ||||||||||||
Workday, Inc. - Class A(a) | 300 | 87,321 | ||||||||||||
Zoom Video Communications, Inc. - Class A(a) | 361 | 23,324 | ||||||||||||
2,268,453 | ||||||||||||||
Asset Management & Custody Banks - 0.8% | ||||||||||||||
Affiliated Managers Group, Inc. | 9 | 1,340 | ||||||||||||
Ameriprise Financial, Inc. | 74 | 28,625 | ||||||||||||
Ares Management Corp. - Class A | 241 | 29,277 | ||||||||||||
BlackRock, Inc. | 113 | 87,497 | ||||||||||||
Blackstone, Inc. | 1,157 | 143,989 | ||||||||||||
Blue Owl Capital, Inc. - Class A | 382 | 5,936 | ||||||||||||
KKR & Co., Inc. | 766 | 66,320 | ||||||||||||
SEI Investments Co. | 96 | 6,071 | ||||||||||||
TPG, Inc. | 6 | 250 | ||||||||||||
369,305 | ||||||||||||||
Automobile Manufacturers - 1.7% | ||||||||||||||
Lucid Group, Inc.(a)(c) | 1,243 | 4,201 | ||||||||||||
Rivian Automotive, Inc. - Class A(a) | 1,065 | 16,305 | ||||||||||||
Tesla, Inc.(a) | 4,307 | 806,659 | ||||||||||||
827,165 | ||||||||||||||
Automotive Parts & Equipment - 0.0%(b) | ||||||||||||||
Aptiv PLC(a) | 211 | 17,161 | ||||||||||||
Gentex Corp. | 189 | 6,262 | ||||||||||||
QuantumScape Corp.(a) | 468 | 3,187 | ||||||||||||
26,610 | ||||||||||||||
Automotive Retail - 0.4% | ||||||||||||||
AutoZone, Inc.(a) | 27 | 74,578 | ||||||||||||
CarMax, Inc.(a) | 146 | 10,392 | ||||||||||||
Carvana Co.(a) | 141 | 6,071 |
The accompanying notes are an integral part of these financial statements.
58
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Automotive Retail - 0.4% (Continued) | ||||||||||||||
Murphy USA, Inc. | 19 | $ | 6,698 | |||||||||||
O'Reilly Automotive, Inc.(a) | 84 | 85,936 | ||||||||||||
Valvoline, Inc.(a) | 95 | 3,467 | ||||||||||||
187,142 | ||||||||||||||
Biotechnology - 1.7% | ||||||||||||||
AbbVie, Inc. | 931 | 153,056 | ||||||||||||
Alnylam Pharmaceuticals, Inc.(a) | 186 | 32,161 | ||||||||||||
Amgen, Inc. | 239 | 75,108 | ||||||||||||
Apellis Pharmaceuticals, Inc.(a) | 153 | 9,683 | ||||||||||||
Arrowhead Pharmaceuticals, Inc.(a) | 162 | 5,200 | ||||||||||||
Biogen, Inc.(a) | 43 | 10,606 | ||||||||||||
BioMarin Pharmaceutical, Inc.(a) | 276 | 24,310 | ||||||||||||
CRISPR Therapeutics AG(a)(c) | 96 | 6,043 | ||||||||||||
Denali Therapeutics, Inc.(a) | 99 | 1,585 | ||||||||||||
Exact Sciences Corp.(a) | 276 | 18,050 | ||||||||||||
Exelixis, Inc.(a) | 462 | 10,053 | ||||||||||||
Halozyme Therapeutics, Inc.(a) | 210 | 7,109 | ||||||||||||
Incyte Corp.(a) | 276 | 16,221 | ||||||||||||
Karuna Therapeutics, Inc.(a) | 40 | 12,537 | ||||||||||||
Moderna, Inc.(a) | 564 | 56,992 | ||||||||||||
Natera, Inc.(a) | 157 | 10,353 | ||||||||||||
Neurocrine Biosciences, Inc.(a) | 146 | 20,406 | ||||||||||||
Regeneron Pharmaceuticals, Inc.(a) | 164 | 154,616 | ||||||||||||
Roivant Sciences Ltd.(a) | 566 | 5,660 | ||||||||||||
Sarepta Therapeutics, Inc.(a) | 116 | 13,803 | ||||||||||||
Vertex Pharmaceuticals, Inc.(a) | 400 | 173,353 | ||||||||||||
816,905 | ||||||||||||||
Brewers - 0.0%(b) | ||||||||||||||
Boston Beer Co., Inc. - Class A(a) | 11 | 3,842 | ||||||||||||
Broadline Retail - 4.6% | ||||||||||||||
Amazon.com, Inc.(a) | 14,094 | 2,187,389 | ||||||||||||
eBay, Inc. | 326 | 13,389 | ||||||||||||
Etsy, Inc.(a) | 186 | 12,380 | ||||||||||||
2,213,158 | ||||||||||||||
Building Products - 0.7% | ||||||||||||||
A.O. Smith Corp. | 151 | 11,719 | ||||||||||||
Advanced Drainage Systems, Inc. | 96 | 12,520 | ||||||||||||
Allegion PLC | 78 | 9,663 | ||||||||||||
Armstrong World Industries, Inc. | 29 | 2,877 |
The accompanying notes are an integral part of these financial statements.
59
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Building Products - 0.7% (Continued) | ||||||||||||||
Builders FirstSource, Inc.(a) | 110 | $ | 19,110 | |||||||||||
Carlisle Cos., Inc. | 49 | 15,399 | ||||||||||||
Carrier Global Corp. | 969 | 53,015 | ||||||||||||
Fortune Brands Innovations, Inc. | 50 | 3,880 | ||||||||||||
Johnson Controls International PLC | 740 | 38,991 | ||||||||||||
Lennox International, Inc. | 40 | 17,126 | ||||||||||||
Masco Corp. | 142 | 9,555 | ||||||||||||
Owens Corning | 15 | 2,273 | ||||||||||||
Simpson Manufacturing Co., Inc. | 56 | 10,135 | ||||||||||||
Trane Technologies PLC | 250 | 63,013 | ||||||||||||
Trex Co., Inc.(a) | 162 | 13,200 | ||||||||||||
282,476 | ||||||||||||||
Cable & Satellite - 0.1% | ||||||||||||||
Cable One, Inc. | 1 | 549 | ||||||||||||
Charter Communications, Inc. - Class A(a) | 54 | 20,019 | ||||||||||||
Liberty Broadband Corp. - Class A(a) | 22 | 1,712 | ||||||||||||
Liberty Broadband Corp. - Class C(a) | 186 | 14,592 | ||||||||||||
Liberty Media Corp.-Liberty SiriusXM(a) | 326 | 9,897 | ||||||||||||
Liberty Media Corp.-Liberty SiriusXM(a) | 149 | 4,528 | ||||||||||||
Sirius XM Holdings, Inc. | 247 | 1,257 | ||||||||||||
52,554 | ||||||||||||||
Cargo Ground Transportation - 0.2% | ||||||||||||||
JB Hunt Transport Services, Inc. | 108 | 21,706 | ||||||||||||
Knight-Swift Transportation Holdings, Inc. | 3 | 172 | ||||||||||||
Landstar System, Inc. | 32 | 6,135 | ||||||||||||
Old Dominion Freight Line, Inc. | 156 | 60,999 | ||||||||||||
Saia, Inc.(a) | 45 | 20,276 | ||||||||||||
U-Haul Holding Co. | 57 | 3,641 | ||||||||||||
U-Haul Holding Co.(a) | 5 | 331 | ||||||||||||
113,260 | ||||||||||||||
Casinos & Gaming - 0.2% | ||||||||||||||
Boyd Gaming Corp. | 31 | 1,968 | ||||||||||||
Caesars Entertainment, Inc.(a) | 192 | 8,423 | ||||||||||||
Churchill Downs, Inc. | 96 | 11,613 | ||||||||||||
DraftKings, Inc. - Class A(a) | 632 | 24,680 | ||||||||||||
Light & Wonder, Inc. - Class A(a) | 138 | 11,092 | ||||||||||||
MGM Resorts International(a) | 37 | 1,605 | ||||||||||||
Wynn Resorts Ltd. | 145 | 13,692 | ||||||||||||
73,073 |
The accompanying notes are an integral part of these financial statements.
60
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Commercial & Residential Mortgage Finance - 0.0%(b) | ||||||||||||||
Rocket Cos., Inc. - Class A(a) | 174 | $ | 2,142 | |||||||||||
UWM Holdings Corp.(c) | 54 | 362 | ||||||||||||
2,504 | ||||||||||||||
Commodity Chemicals - 0.0%(b) | ||||||||||||||
Olin Corp. | 73 | 3,801 | ||||||||||||
Communications Equipment - 0.6% | ||||||||||||||
Arista Networks, Inc.(a) | 369 | 95,453 | ||||||||||||
Ciena Corp.(a) | 114 | 6,042 | ||||||||||||
Cisco Systems, Inc. | 1,412 | 70,854 | ||||||||||||
F5, Inc.(a) | 49 | 9,001 | ||||||||||||
Juniper Networks, Inc. | 162 | 5,988 | ||||||||||||
Lumentum Holdings, Inc.(a) | 62 | 3,406 | ||||||||||||
Motorola Solutions, Inc. | 241 | 77,000 | ||||||||||||
267,744 | ||||||||||||||
Computer & Electronics Retail - 0.0%(b) | ||||||||||||||
GameStop Corp. - Class A(a)(c) | 154 | 2,191 | ||||||||||||
Construction & Engineering - 0.2% | ||||||||||||||
AECOM | 100 | 8,819 | ||||||||||||
API Group Corp.(a) | 213 | 6,714 | ||||||||||||
EMCOR Group, Inc. | 40 | 9,124 | ||||||||||||
MasTec, Inc.(a) | 56 | 3,678 | ||||||||||||
Quanta Services, Inc. | 210 | 40,750 | ||||||||||||
Valmont Industries, Inc. | 25 | 5,643 | ||||||||||||
WillScot Mobile Mini Holdings Corp.(a) | 324 | 15,325 | ||||||||||||
90,053 | ||||||||||||||
Construction Machinery & Heavy Transportation Equipment - 0.3% | ||||||||||||||
Caterpillar, Inc. | 378 | 113,517 | ||||||||||||
PACCAR, Inc. | 21 | 2,108 | ||||||||||||
Westinghouse Air Brake Technologies Corp. | 105 | 13,815 | ||||||||||||
129,440 | ||||||||||||||
Construction Machinery & Heavy Trucks - 0.0%(b) | ||||||||||||||
Cummins, Inc. | 24 | 5,743 |
The accompanying notes are an integral part of these financial statements.
61
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Construction Materials - 0.2% | ||||||||||||||
Eagle Materials, Inc. | 41 | $ | 9,277 | |||||||||||
Martin Marietta Materials, Inc. | 88 | 44,741 | ||||||||||||
Vulcan Materials Co. | 198 | 44,750 | ||||||||||||
98,768 | ||||||||||||||
Consumer Electronics - 0.0%(b) | ||||||||||||||
Garmin Ltd. | 105 | 12,546 | ||||||||||||
Consumer Finance - 0.2% | ||||||||||||||
American Express Co. | 426 | 85,515 | ||||||||||||
Credit Acceptance Corp.(a) | 5 | 2,705 | ||||||||||||
Discover Financial Services | 59 | 6,226 | ||||||||||||
SoFi Technologies, Inc.(a)(c) | 1,032 | 8,081 | ||||||||||||
102,527 | ||||||||||||||
Consumer Staples Merchandise Retail - 1.4% | ||||||||||||||
BJ's Wholesale Club Holdings, Inc.(a) | 61 | 3,925 | ||||||||||||
Costco Wholesale Corp. | 694 | 482,246 | ||||||||||||
Dollar General Corp. | 188 | 24,829 | ||||||||||||
Dollar Tree, Inc.(a) | 206 | 26,908 | ||||||||||||
Target Corp. | 60 | 8,345 | ||||||||||||
Walmart, Inc. | 833 | 137,653 | ||||||||||||
683,906 | ||||||||||||||
Copper - 0.1% | ||||||||||||||
Freeport-McMoRan, Inc. | 1,528 | 60,646 | ||||||||||||
Data Processing & Outsourced Services - 0.1% | ||||||||||||||
Broadridge Financial Solutions, Inc. | 175 | 35,735 | ||||||||||||
Genpact Ltd. | 110 | 3,949 | ||||||||||||
Maximus, Inc. | 58 | 4,705 | ||||||||||||
SS&C Technologies Holdings, Inc. | 189 | 11,533 | ||||||||||||
55,922 | ||||||||||||||
Distillers & Vintners - 0.1% | ||||||||||||||
Brown-Forman Corp. - Class A | 63 | 3,551 | ||||||||||||
Brown-Forman Corp. - Class B | 462 | 25,364 | ||||||||||||
Constellation Brands, Inc. - Class A | 87 | 21,322 | ||||||||||||
50,237 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
62
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Distributors - 0.1% | ||||||||||||||
Genuine Parts Co. | 89 | $ | 12,480 | |||||||||||
LKQ Corp. | 103 | 4,807 | ||||||||||||
Pool Corp. | 52 | 19,305 | ||||||||||||
36,592 | ||||||||||||||
Diversified Banks - 0.0%(b) | ||||||||||||||
First Citizens BancShares, Inc. - Class A | 8 | 12,080 | ||||||||||||
Diversified Financial Services - 0.1% | ||||||||||||||
Apollo Global Management, Inc. | 418 | 41,967 | ||||||||||||
Diversified Support Services - 0.3% | ||||||||||||||
Cintas Corp. | 144 | 87,058 | ||||||||||||
Copart, Inc.(a) | 1,337 | 64,229 | ||||||||||||
Vestis Corp. | 44 | 942 | ||||||||||||
152,229 | ||||||||||||||
Education Services - 0.0%(b) | ||||||||||||||
Bright Horizons Family Solutions, Inc.(a) | 53 | 5,207 | ||||||||||||
Electric Utilities - 0.3% | ||||||||||||||
Alliant Energy Corp. | 61 | 2,968 | ||||||||||||
IDACORP, Inc. | 17 | 1,574 | ||||||||||||
NextEra Energy, Inc. | 2,033 | 119,195 | ||||||||||||
Southern Co. | 189 | 13,139 | ||||||||||||
Xcel Energy, Inc. | 14 | 838 | ||||||||||||
137,714 | ||||||||||||||
Electrical Components & Equipment - 0.8% | ||||||||||||||
Acuity Brands, Inc. | 12 | 2,858 | ||||||||||||
AMETEK, Inc. | 347 | 56,231 | ||||||||||||
Eaton Corp. PLC | 464 | 114,182 | ||||||||||||
Emerson Electric Co. | 348 | 31,922 | ||||||||||||
Generac Holdings, Inc.(a) | 78 | 8,866 | ||||||||||||
Hubbell, Inc. | 61 | 20,470 | ||||||||||||
NEXTracker, Inc. - Class A(a) | 74 | 3,350 | ||||||||||||
nVent Electric PLC | 187 | 11,227 | ||||||||||||
Plug Power, Inc.(a)(c) | 876 | 3,898 | ||||||||||||
Regal Rexnord Corp. | 23 | 3,070 | ||||||||||||
Rockwell Automation, Inc. | 170 | 43,058 | ||||||||||||
Sensata Technologies Holding PLC | 49 | 1,772 |
The accompanying notes are an integral part of these financial statements.
63
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Electrical Components & Equipment - 0.8% (Continued) | ||||||||||||||
Sunrun, Inc.(a) | 102 | $ | 1,477 | |||||||||||
Vertiv Holdings Co. - Class A | 525 | 29,573 | ||||||||||||
331,954 | ||||||||||||||
Electronic Components - 0.2% | ||||||||||||||
Amphenol Corp. - Class A | 900 | 90,989 | ||||||||||||
Coherent Corp.(a) | 166 | 7,892 | ||||||||||||
Corning, Inc. | 163 | 5,296 | ||||||||||||
Littelfuse, Inc. | 31 | 7,499 | ||||||||||||
111,676 | ||||||||||||||
Electronic Equipment & Instruments - 0.2% | ||||||||||||||
Cognex Corp. | 247 | 8,927 | ||||||||||||
Keysight Technologies, Inc.(a) | 276 | 42,299 | ||||||||||||
Teledyne Technologies, Inc.(a) | 56 | 23,434 | ||||||||||||
Trimble, Inc.(a) | 337 | 17,140 | ||||||||||||
Vontier Corp. | 97 | 3,355 | ||||||||||||
Zebra Technologies Corp. - Class A(a) | 72 | 17,248 | ||||||||||||
112,403 | ||||||||||||||
Electronic Manufacturing Services - 0.1% | ||||||||||||||
Flex Ltd.(a) | 43 | 1,021 | ||||||||||||
IPG Photonics Corp.(a) | 27 | 2,643 | ||||||||||||
Jabil, Inc. | 51 | 6,390 | ||||||||||||
TE Connectivity Ltd. | 246 | 34,979 | ||||||||||||
45,033 | ||||||||||||||
Environmental & Facilities Services - 0.5% | ||||||||||||||
Clean Harbors, Inc.(a) | 64 | 10,749 | ||||||||||||
Republic Services, Inc. | 290 | 49,625 | ||||||||||||
Rollins, Inc. | 477 | 20,659 | ||||||||||||
Stericycle, Inc.(a) | 7 | 336 | ||||||||||||
Tetra Tech, Inc. | 72 | 11,389 | ||||||||||||
Veralto Corp. | 336 | 25,768 | ||||||||||||
Waste Management, Inc. | 580 | 107,665 | ||||||||||||
226,191 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.1% | ||||||||||||||
Corteva, Inc. | 1,069 | 48,618 | ||||||||||||
FMC Corp. | 66 | 3,709 | ||||||||||||
52,327 |
The accompanying notes are an integral part of these financial statements.
64
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Financial Exchanges & Data - 1.3% | ||||||||||||||
Cboe Global Markets, Inc. | 151 | $ | 27,761 | |||||||||||
CME Group, Inc. | 80 | 16,467 | ||||||||||||
Coinbase Global, Inc. - Class A(a) | 227 | 29,101 | ||||||||||||
FactSet Research Systems, Inc. | 61 | 29,031 | ||||||||||||
Intercontinental Exchange, Inc. | 746 | 94,988 | ||||||||||||
MarketAxess Holdings, Inc. | 48 | 10,824 | ||||||||||||
Moody's Corp. | 243 | 95,266 | ||||||||||||
Morningstar, Inc. | 33 | 9,217 | ||||||||||||
MSCI, Inc. | 119 | 71,236 | ||||||||||||
Nasdaq, Inc. | 380 | 21,953 | ||||||||||||
S&P Global, Inc. | 486 | 217,899 | ||||||||||||
Tradeweb Markets, Inc. - Class A | 172 | 16,407 | ||||||||||||
640,150 | ||||||||||||||
Food Distributors - 0.0%(b) | ||||||||||||||
Performance Food Group Co.(a) | 2 | 145 | ||||||||||||
Sysco Corp. | 65 | 5,260 | ||||||||||||
US Foods Holding Corp.(a) | 317 | 14,586 | ||||||||||||
19,991 | ||||||||||||||
Food Retail - 0.0%(b) | ||||||||||||||
Casey's General Stores, Inc. | 29 | 7,869 | ||||||||||||
Footwear - 0.5% | ||||||||||||||
Crocs, Inc.(a) | 73 | 7,408 | ||||||||||||
Deckers Outdoor Corp.(a) | 36 | 27,134 | ||||||||||||
Nike, Inc. - Class B | 1,867 | 189,557 | ||||||||||||
On Holding AG - Class A(a) | 310 | 8,234 | ||||||||||||
Skechers USA, Inc. - Class A(a) | 109 | 6,806 | ||||||||||||
239,139 | ||||||||||||||
Gold - 0.0%(b) | ||||||||||||||
Royal Gold, Inc. | 86 | 9,838 | ||||||||||||
Health Care Distributors - 0.0%(b) | ||||||||||||||
Henry Schein, Inc.(a) | 96 | 7,185 | ||||||||||||
Health Care Equipment - 2.8% | ||||||||||||||
Abbott Laboratories | 2,549 | 288,419 | ||||||||||||
Baxter International, Inc. | 211 | 8,164 | ||||||||||||
Becton Dickinson & Co. | 247 | 58,986 | ||||||||||||
Boston Scientific Corp.(a) | 2,371 | 149,989 | ||||||||||||
Dexcom, Inc.(a) | 594 | 72,082 |
The accompanying notes are an integral part of these financial statements.
65
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Health Care Equipment - 2.8% (Continued) | ||||||||||||||
Edwards Lifesciences Corp.(a) | 924 | $ | 72,506 | |||||||||||
Envista Holdings Corp.(a) | 24 | 564 | ||||||||||||
GE HealthCare Technologies, Inc. | 506 | 37,120 | ||||||||||||
Globus Medical, Inc. - Class A(a) | 172 | 9,080 | ||||||||||||
Hologic, Inc.(a) | 251 | 18,684 | ||||||||||||
IDEXX Laboratories, Inc.(a) | 116 | 59,749 | ||||||||||||
Inspire Medical Systems, Inc.(a) | 37 | 7,802 | ||||||||||||
Insulet Corp.(a) | 96 | 18,324 | ||||||||||||
Integra LifeSciences Holdings Corp.(a) | 34 | 1,365 | ||||||||||||
Intuitive Surgical, Inc.(a) | 526 | 198,944 | ||||||||||||
Masimo Corp.(a) | 72 | 9,284 | ||||||||||||
Medtronic PLC | 422 | 36,942 | ||||||||||||
Novocure Ltd.(a) | 87 | 1,211 | ||||||||||||
Penumbra, Inc.(a) | 48 | 12,105 | ||||||||||||
QuidelOrtho Corp.(a) | 61 | 4,179 | ||||||||||||
ResMed, Inc. | 210 | 39,942 | ||||||||||||
Shockwave Medical, Inc.(a) | 48 | 10,860 | ||||||||||||
STERIS PLC | 148 | 32,405 | ||||||||||||
Stryker Corp. | 540 | 181,159 | ||||||||||||
Teleflex, Inc. | 44 | 10,685 | ||||||||||||
Zimmer Biomet Holdings, Inc. | 156 | 19,594 | ||||||||||||
1,360,144 | ||||||||||||||
Health Care Facilities - 0.1% | ||||||||||||||
Acadia Healthcare Co., Inc.(a) | 80 | 6,571 | ||||||||||||
Encompass Health Corp. | 41 | 2,913 | ||||||||||||
HCA Healthcare, Inc. | 173 | 52,748 | ||||||||||||
Universal Health Services, Inc. - Class B | 16 | 2,541 | ||||||||||||
64,773 | ||||||||||||||
Health Care Services - 0.1% | ||||||||||||||
agilon health, Inc.(a) | 468 | 2,757 | ||||||||||||
Chemed Corp. | 20 | 11,856 | ||||||||||||
DaVita, Inc.(a) | 34 | 3,677 | ||||||||||||
Guardant Health, Inc.(a) | 168 | 3,684 | ||||||||||||
Option Care Health, Inc.(a) | 276 | 8,622 | ||||||||||||
Quest Diagnostics, Inc. | 58 | 7,449 | ||||||||||||
R1 RCM, Inc.(a) | 201 | 2,058 | ||||||||||||
40,103 |
The accompanying notes are an integral part of these financial statements.
66
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Health Care Supplies - 0.1% | ||||||||||||||
Align Technology, Inc.(a) | 96 | $ | 25,663 | |||||||||||
Cooper Cos., Inc. | 67 | 24,993 | ||||||||||||
Dentsply Sirona, Inc. | 151 | 5,247 | ||||||||||||
ICU Medical, Inc.(a) | 15 | 1,373 | ||||||||||||
57,276 | ||||||||||||||
Health Care Technology - 0.0%(b) | ||||||||||||||
Doximity, Inc. - Class A(a) | 162 | 4,366 | ||||||||||||
Teladoc Health, Inc.(a) | 225 | 4,372 | ||||||||||||
8,738 | ||||||||||||||
Home Furnishings - 0.0%(b) | ||||||||||||||
Tempur Sealy International, Inc. | 241 | 12,023 | ||||||||||||
Home Improvement Retail - 1.2% | ||||||||||||||
Floor & Decor Holdings, Inc. - Class A(a) | 162 | 16,291 | ||||||||||||
Home Depot, Inc. | 1,154 | 407,315 | ||||||||||||
Lowe's Cos., Inc. | 753 | 160,269 | ||||||||||||
583,875 | ||||||||||||||
Homebuilding - 0.1% | ||||||||||||||
DR Horton, Inc. | 96 | 13,719 | ||||||||||||
NVR, Inc.(a) | 3 | 21,226 | ||||||||||||
TopBuild Corp.(a) | 40 | 14,765 | ||||||||||||
49,710 | ||||||||||||||
Homefurnishing Retail - 0.0%(b) | ||||||||||||||
RH(a) | 19 | 4,816 | ||||||||||||
Wayfair, Inc. - Class A(a) | 107 | 5,377 | ||||||||||||
10,193 | ||||||||||||||
Hotels, Resorts & Cruise Lines - 1.0% | ||||||||||||||
Airbnb, Inc. - Class A(a) | 566 | 81,583 | ||||||||||||
Booking Holdings, Inc.(a) | 53 | 185,896 | ||||||||||||
Choice Hotels International, Inc. | 38 | 4,603 | ||||||||||||
Expedia Group, Inc.(a) | 27 | 4,005 | ||||||||||||
Hilton Worldwide Holdings, Inc. | 379 | 72,374 | ||||||||||||
Hyatt Hotels Corp. - Class A | 37 | 4,750 | ||||||||||||
Marriott International, Inc. - Class A | 385 | 92,296 | ||||||||||||
Royal Caribbean Cruises Ltd.(a) | 351 | 44,753 | ||||||||||||
Wyndham Hotels & Resorts, Inc. | 38 | 2,961 | ||||||||||||
493,221 |
The accompanying notes are an integral part of these financial statements.
67
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Household Products - 1.2% | ||||||||||||||
Church & Dwight Co., Inc. | 348 | $ | 34,748 | |||||||||||
Clorox Co. | 115 | 16,704 | ||||||||||||
Colgate-Palmolive Co. | 636 | 53,551 | ||||||||||||
Kimberly-Clark Corp. | 197 | 23,831 | ||||||||||||
Procter & Gamble Co. | 2,702 | 424,592 | ||||||||||||
Reynolds Consumer Products, Inc. | 33 | 897 | ||||||||||||
554,323 | ||||||||||||||
Human Resource & Employment Services - 0.5% | ||||||||||||||
Automatic Data Processing, Inc. | 624 | 153,367 | ||||||||||||
Dayforce, Inc.(a) | 210 | 14,599 | ||||||||||||
Paychex, Inc. | 380 | 46,257 | ||||||||||||
Paycom Software, Inc. | 72 | 13,697 | ||||||||||||
Paylocity Holding Corp.(a) | 55 | 8,713 | ||||||||||||
Robert Half, Inc. | 38 | 3,023 | ||||||||||||
TriNet Group, Inc.(a) | 37 | 4,207 | ||||||||||||
243,863 | ||||||||||||||
Independent Power Producers & Energy Traders - 0.0%(b) | ||||||||||||||
Vistra Corp. | 56 | 2,298 | ||||||||||||
Industrial Conglomerates - 0.3% | ||||||||||||||
General Electric Co. | 338 | 44,758 | ||||||||||||
Honeywell International, Inc. | 583 | 117,918 | ||||||||||||
162,676 | ||||||||||||||
Industrial Gases - 0.9% | ||||||||||||||
Air Products and Chemicals, Inc. | 286 | 73,133 | ||||||||||||
Linde PLC | 751 | 304,027 | ||||||||||||
377,160 | ||||||||||||||
Industrial Machinery & Supplies & Components - 1.0% | ||||||||||||||
Chart Industries, Inc.(a) | 56 | 6,536 | ||||||||||||
Crane Co. | 51 | 6,330 | ||||||||||||
Donaldson Co., Inc. | 105 | 6,782 | ||||||||||||
Dover Corp. | 162 | 24,264 | ||||||||||||
Flowserve Corp. | 84 | 3,354 | ||||||||||||
Fortive Corp. | 285 | 22,281 | ||||||||||||
Graco, Inc. | 234 | 19,960 | ||||||||||||
IDEX Corp. | 102 | 21,573 | ||||||||||||
Illinois Tool Works, Inc. | 367 | 95,751 | ||||||||||||
Ingersoll Rand, Inc. | 602 | 48,076 | ||||||||||||
ITT, Inc. | 67 | 8,092 |
The accompanying notes are an integral part of these financial statements.
68
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Industrial Machinery & Supplies & Components - 1.0% (Continued) | ||||||||||||||
Lincoln Electric Holdings, Inc. | 76 | $ | 16,889 | |||||||||||
Middleby Corp.(a) | 48 | 6,771 | ||||||||||||
Nordson Corp. | 72 | 18,124 | ||||||||||||
Otis Worldwide Corp. | 518 | 45,812 | ||||||||||||
Parker-Hannifin Corp. | 162 | 75,249 | ||||||||||||
Pentair PLC | 188 | 13,756 | ||||||||||||
RBC Bearings, Inc.(a) | 37 | 9,936 | ||||||||||||
Snap-on, Inc. | 30 | 8,698 | ||||||||||||
Symbotic, Inc.(a)(c) | 35 | 1,506 | ||||||||||||
Timken Co. | 20 | 1,638 | ||||||||||||
Xylem, Inc. | 302 | 33,957 | ||||||||||||
495,335 | ||||||||||||||
Insurance Brokers - 0.7% | ||||||||||||||
Aon PLC - Class A | 294 | 87,739 | ||||||||||||
Arthur J Gallagher & Co. | 316 | 73,363 | ||||||||||||
Brown & Brown, Inc. | 348 | 26,991 | ||||||||||||
Marsh & McLennan Cos., Inc. | 769 | 149,063 | ||||||||||||
Ryan Specialty Holdings, Inc.(a) | 138 | 5,978 | ||||||||||||
Willis Towers Watson PLC | 91 | 22,413 | ||||||||||||
365,547 | ||||||||||||||
Integrated Oil & Gas - 0.2% | ||||||||||||||
Exxon Mobil Corp. | 739 | 75,977 | ||||||||||||
Interactive Home Entertainment - 0.2% | ||||||||||||||
Electronic Arts, Inc. | 361 | 49,666 | ||||||||||||
Playtika Holding Corp.(a) | 24 | 173 | ||||||||||||
Roblox Corp. - Class A(a) | 717 | 27,827 | ||||||||||||
Take-Two Interactive Software, Inc.(a) | 189 | 31,172 | ||||||||||||
108,838 | ||||||||||||||
Interactive Media & Services - 8.0% | ||||||||||||||
Alphabet, Inc. - Class A(a) | 9,134 | 1,279,673 | ||||||||||||
Alphabet, Inc. - Class C(a) | 7,694 | 1,091,009 | ||||||||||||
Bumble, Inc. - Class A(a) | 138 | 1,893 | ||||||||||||
IAC, Inc.(a) | 50 | 2,511 | ||||||||||||
Meta Platforms, Inc. - Class A(a) | 3,463 | 1,351,056 | ||||||||||||
Pinterest, Inc. - Class A(a) | 767 | 28,739 | ||||||||||||
Snap, Inc. - Class A(a) | 1,566 | 24,884 | ||||||||||||
Ziff Davis, Inc.(a) | 19 | 1,281 | ||||||||||||
ZoomInfo Technologies, Inc.(a) | 510 | 8,180 | ||||||||||||
3,789,226 |
The accompanying notes are an integral part of these financial statements.
69
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Internet Services & Infrastructure - 0.6% | ||||||||||||||
Akamai Technologies, Inc.(a) | 188 | $ | 23,167 | |||||||||||
Cloudflare, Inc. - Class A(a) | 429 | 33,912 | ||||||||||||
GoDaddy, Inc. - Class A(a) | 234 | 24,958 | ||||||||||||
MongoDB, Inc.(a) | 90 | 36,047 | ||||||||||||
Okta, Inc.(a) | 227 | 18,762 | ||||||||||||
Snowflake, Inc. - Class A(a) | 444 | 86,865 | ||||||||||||
Twilio, Inc. - Class A(a) | 240 | 16,879 | ||||||||||||
VeriSign, Inc.(a) | 138 | 27,445 | ||||||||||||
268,035 | ||||||||||||||
Investment Banking & Brokerage - 0.3% | ||||||||||||||
Charles Schwab Corp. | 1,165 | 73,302 | ||||||||||||
Evercore, Inc. - Class A | 8 | 1,374 | ||||||||||||
Houlihan Lokey, Inc. | 66 | 7,905 | ||||||||||||
Interactive Brokers Group, Inc. - Class A | 110 | 9,763 | ||||||||||||
LPL Financial Holdings, Inc. | 102 | 24,397 | ||||||||||||
Raymond James Financial, Inc. | 92 | 10,137 | ||||||||||||
Robinhood Markets, Inc. - Class A(a) | 172 | 1,847 | ||||||||||||
128,725 | ||||||||||||||
IT Consulting & Other Services - 1.1% | ||||||||||||||
Accenture PLC - Class A | 1,027 | 373,705 | ||||||||||||
Amdocs Ltd. | 96 | 8,801 | ||||||||||||
Cognizant Technology Solutions Corp. - Class A | 200 | 15,424 | ||||||||||||
EPAM Systems, Inc.(a) | 72 | 20,024 | ||||||||||||
Gartner, Inc.(a) | 119 | 54,435 | ||||||||||||
Globant SA(a) | 60 | 14,149 | ||||||||||||
486,538 | ||||||||||||||
Leisure Facilities - 0.0%(b) | ||||||||||||||
Planet Fitness, Inc. - Class A(a) | 138 | 9,351 | ||||||||||||
Vail Resorts, Inc. | 32 | 7,104 | ||||||||||||
16,455 | ||||||||||||||
Leisure Products - 0.0%(b) | ||||||||||||||
Mattel, Inc.(a) | 552 | 9,875 | ||||||||||||
Polaris, Inc. | 9 | 810 | ||||||||||||
YETI Holdings, Inc.(a) | 138 | 6,068 | ||||||||||||
16,753 |
The accompanying notes are an integral part of these financial statements.
70
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Life & Health Insurance - 0.0%(b) | ||||||||||||||
Globe Life, Inc. | 11 | $ | 1,351 | |||||||||||
Primerica, Inc. | 26 | 6,088 | ||||||||||||
7,439 | ||||||||||||||
Life Sciences Tools & Services - 2.0% | ||||||||||||||
10X Genomics, Inc. - Class A(a) | 138 | 5,750 | ||||||||||||
Agilent Technologies, Inc. | 439 | 57,114 | ||||||||||||
Avantor, Inc.(a) | 1,184 | 27,220 | ||||||||||||
Bio-Rad Laboratories, Inc. - Class A(a) | 11 | 3,530 | ||||||||||||
Bio-Techne Corp. | 285 | 20,041 | ||||||||||||
Bruker Corp. | 162 | 11,585 | ||||||||||||
Charles River Laboratories International, Inc.(a) | 72 | 15,572 | ||||||||||||
Danaher Corp. | 1,062 | 254,784 | ||||||||||||
ICON PLC(a) | 104 | 27,130 | ||||||||||||
Illumina, Inc.(a) | 139 | 19,878 | ||||||||||||
IQVIA Holdings, Inc.(a) | 276 | 57,471 | ||||||||||||
Medpace Holdings, Inc.(a) | 31 | 9,039 | ||||||||||||
Mettler-Toledo International, Inc.(a) | 29 | 34,719 | ||||||||||||
Repligen Corp.(a) | 72 | 13,637 | ||||||||||||
Revvity, Inc. | 112 | 12,004 | ||||||||||||
Sotera Health Co.(a) | 138 | 2,031 | ||||||||||||
Thermo Fisher Scientific, Inc. | 587 | 316,382 | ||||||||||||
Waters Corp.(a) | 83 | 26,370 | ||||||||||||
West Pharmaceutical Services, Inc. | 96 | 35,811 | ||||||||||||
950,068 | ||||||||||||||
Managed Health Care - 1.3% | ||||||||||||||
Elevance Health, Inc. | 86 | 42,436 | ||||||||||||
HealthEquity, Inc.(a) | 99 | 7,482 | ||||||||||||
Humana, Inc. | 31 | 11,720 | ||||||||||||
Molina Healthcare, Inc.(a) | 54 | 19,248 | ||||||||||||
UnitedHealth Group, Inc. | 1,040 | 532,209 | ||||||||||||
613,095 | ||||||||||||||
Metal, Glass & Plastic Containers - 0.1% | ||||||||||||||
AptarGroup, Inc. | 48 | 6,234 | ||||||||||||
Ball Corp. | 348 | 19,296 | ||||||||||||
Crown Holdings, Inc. | 35 | 3,098 | ||||||||||||
28,628 |
The accompanying notes are an integral part of these financial statements.
71
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Movies & Entertainment - 1.2% | ||||||||||||||
AMC Entertainment Holdings, Inc.(a)(c) | 57 | $ | 231 | |||||||||||
Endeavor Group Holdings, Inc. - Class A | 147 | 3,638 | ||||||||||||
Liberty Media Corp.-Liberty Formula One - Class A(a) | 31 | 1,894 | ||||||||||||
Liberty Media Corp.-Liberty Formula One - Class C(a) | 294 | 19,772 | ||||||||||||
Liberty Media Corp.-Liberty Live - Class A(a) | 34 | 1,252 | ||||||||||||
Liberty Media Corp.-Liberty Live - Class C(a) | 79 | 2,944 | ||||||||||||
Live Nation Entertainment, Inc.(a) | 200 | 17,770 | ||||||||||||
Madison Square Garden Sports Corp.(a) | 10 | 1,851 | ||||||||||||
Netflix, Inc.(a) | 668 | 376,826 | ||||||||||||
Roku, Inc.(a) | 186 | 16,379 | ||||||||||||
Spotify Technology S.A.(a) | 32 | 6,891 | ||||||||||||
TKO Group Holdings, Inc. | 74 | 6,193 | ||||||||||||
Walt Disney Co. | 1,005 | 96,530 | ||||||||||||
Warner Music Group Corp. - Class A | 154 | 5,619 | ||||||||||||
557,790 | ||||||||||||||
Multi-Sector Holdings - 1.0% | ||||||||||||||
Berkshire Hathaway, Inc. - Class B(a) | 1,257 | 482,361 | ||||||||||||
Multi-Utilities - 0.1% | ||||||||||||||
Ameren Corp. | 24 | 1,670 | ||||||||||||
CMS Energy Corp. | 73 | 4,173 | ||||||||||||
Public Service Enterprise Group, Inc. | 6 | 348 | ||||||||||||
Sempra | 224 | 16,028 | ||||||||||||
WEC Energy Group, Inc. | 102 | 8,238 | ||||||||||||
30,457 | ||||||||||||||
Office Services & Supplies - 0.0%(b) | ||||||||||||||
MSA Safety, Inc. | 38 | 6,271 | ||||||||||||
Oil & Gas Drilling - 0.0%(b) | ||||||||||||||
Noble Corp. PLC | 164 | 7,238 | ||||||||||||
Transocean Ltd.(a) | 316 | 1,725 | ||||||||||||
8,963 | ||||||||||||||
Oil & Gas Equipment & Services - 0.1% | ||||||||||||||
ChampionX Corp. | 179 | 4,906 | ||||||||||||
Halliburton Co. | 77 | 2,745 | ||||||||||||
NOV, Inc. | 188 | 3,668 | ||||||||||||
Schlumberger NV | 1,346 | 65,550 | ||||||||||||
76,869 |
The accompanying notes are an integral part of these financial statements.
72
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Exploration & Production - 0.2% | ||||||||||||||
Hess Corp. | 416 | $ | 58,460 | |||||||||||
Texas Pacific Land Corp. | 11 | 16,075 | ||||||||||||
74,535 | ||||||||||||||
Oil & Gas Storage & Transportation - 0.2% | ||||||||||||||
Cheniere Energy, Inc. | 290 | 47,557 | ||||||||||||
New Fortress Energy, Inc. | 140 | 4,652 | ||||||||||||
Targa Resources Corp. | 324 | 27,527 | ||||||||||||
Williams Cos., Inc. | 4 | 139 | ||||||||||||
79,875 | ||||||||||||||
Other Specialty Retail - 0.2% | ||||||||||||||
Chewy, Inc. - Class A(a) | 138 | 2,459 | ||||||||||||
Dick's Sporting Goods, Inc. | 26 | 3,876 | ||||||||||||
Five Below, Inc.(a) | 72 | 12,921 | ||||||||||||
Tractor Supply Co. | 162 | 36,385 | ||||||||||||
Ulta Beauty, Inc.(a) | 77 | 38,658 | ||||||||||||
94,299 | ||||||||||||||
Packaged Foods & Meats - 0.5% | ||||||||||||||
Campbell Soup Co. | 7 | 312 | ||||||||||||
Flowers Foods, Inc. | 52 | 1,186 | ||||||||||||
General Mills, Inc. | 308 | 19,992 | ||||||||||||
Hershey Co. | 210 | 40,643 | ||||||||||||
Hormel Foods Corp. | 142 | 4,313 | ||||||||||||
J M Smucker Co. | 6 | 789 | ||||||||||||
Kellanova | 34 | 1,862 | ||||||||||||
Lamb Weston Holdings, Inc. | 210 | 21,512 | ||||||||||||
Lancaster Colony Corp. | 24 | 4,411 | ||||||||||||
McCormick & Co., Inc. | 284 | 19,357 | ||||||||||||
Mondelez International, Inc. - Class A | 1,413 | 106,357 | ||||||||||||
Post Holdings, Inc.(a) | 3 | 279 | ||||||||||||
WK Kellogg Co. | 10 | 130 | ||||||||||||
221,143 | ||||||||||||||
Paper & Plastic Packaging Products & Materials - 0.0%(b) | ||||||||||||||
Avery Dennison Corp. | 63 | 12,565 | ||||||||||||
Graphic Packaging Holding Co. | 19 | 485 | ||||||||||||
Sealed Air Corp. | 7 | 242 | ||||||||||||
13,292 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
73
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Values | ||||||||||||
Passenger Ground Transportation - 0.4% | ||||||||||||||
Grab Holdings Ltd. - Class A(a) | 4,171 | $ | 12,805 | |||||||||||
Lyft, Inc. - Class A(a) | 230 | 2,873 | ||||||||||||
Uber Technologies, Inc.(a) | 3,111 | 203,055 | ||||||||||||
218,733 | ||||||||||||||
Personal Care Products - 0.2% | ||||||||||||||
BellRing Brands, Inc.(a) | 212 | 11,717 | ||||||||||||
Coty, Inc. - Class A(a) | 318 | 3,841 | ||||||||||||
Estee Lauder Cos., Inc. - Class A | 324 | 42,765 | ||||||||||||
Kenvue, Inc. | 2,014 | 41,811 | ||||||||||||
100,134 | ||||||||||||||
Pharmaceuticals - 3.4% | ||||||||||||||
Bristol-Myers Squibb Co. | 349 | 17,056 | ||||||||||||
Catalent, Inc.(a) | 234 | 12,084 | ||||||||||||
Eli Lilly & Co. | 1,311 | 846,395 | ||||||||||||
Jazz Pharmaceuticals PLC(a) | 9 | 1,104 | ||||||||||||
Johnson & Johnson | 1,857 | 295,077 | ||||||||||||
Merck & Co., Inc. | 2,803 | 338,546 | ||||||||||||
Royalty Pharma PLC - Class A | 330 | 9,369 | ||||||||||||
Zoetis, Inc. | 636 | 119,447 | ||||||||||||
1,639,078 | ||||||||||||||
Property & Casualty Insurance - 0.5% | ||||||||||||||
Arch Capital Group Ltd.(a) | 314 | 25,883 | ||||||||||||
Cincinnati Financial Corp. | 11 | 1,219 | ||||||||||||
Erie Indemnity Co. - Class A | 24 | 8,300 | ||||||||||||
Kinsale Capital Group, Inc. | 29 | 11,530 | ||||||||||||
Markel Group, Inc.(a) | 13 | 19,466 | ||||||||||||
Progressive Corp. | 877 | 156,324 | ||||||||||||
RLI Corp. | 40 | 5,455 | ||||||||||||
Selective Insurance Group, Inc. | 24 | 2,517 | ||||||||||||
W R Berkley Corp. | 54 | 4,422 | ||||||||||||
235,116 | ||||||||||||||
Publishing - 0.0%(b) | ||||||||||||||
New York Times Co. - Class A | 219 | 10,635 | ||||||||||||
News Corp. - Class A | 14 | 345 | ||||||||||||
News Corp. - Class B | 4 | 102 | ||||||||||||
11,082 |
The accompanying notes are an integral part of these financial statements.
74
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Rail Transportation - 0.5% | ||||||||||||||
CSX Corp. | 2,040 | $ | 72,828 | |||||||||||
Norfolk Southern Corp. | 139 | 32,698 | ||||||||||||
Union Pacific Corp. | 515 | 125,624 | ||||||||||||
231,150 | ||||||||||||||
Real Estate Development - 0.0%(b) | ||||||||||||||
Howard Hughes Holdings, Inc.(a) | 24 | 1,922 | ||||||||||||
Real Estate Services - 0.2% | ||||||||||||||
CBRE Group, Inc. - Class A(a) | 278 | 23,994 | ||||||||||||
CoStar Group, Inc.(a) | 600 | 50,088 | ||||||||||||
Zillow Group, Inc. - Class A(a) | 44 | 2,424 | ||||||||||||
Zillow Group, Inc. - Class C(a) | 195 | 11,084 | ||||||||||||
87,590 | ||||||||||||||
Regional Banks - 0.0%(b) | ||||||||||||||
Commerce Bancshares, Inc. | 21 | 1,095 | ||||||||||||
First Financial Bankshares, Inc. | 87 | 2,717 | ||||||||||||
3,812 | ||||||||||||||
Reinsurance - 0.0%(b) | ||||||||||||||
RenaissanceRe Holdings Ltd. | 31 | 7,094 | ||||||||||||
Renewable Electricity - 0.0%(b) | ||||||||||||||
NextEra Energy Partners LP | 28 | 836 | ||||||||||||
Research & Consulting Services - 0.4% | ||||||||||||||
Booz Allen Hamilton Holding Corp. | 187 | 26,324 | ||||||||||||
CACI International, Inc. - Class A(a) | 21 | 7,218 | ||||||||||||
Clarivate PLC(a) | 663 | 5,927 | ||||||||||||
Dun & Bradstreet Holdings, Inc. | 243 | 2,816 | ||||||||||||
Equifax, Inc. | 186 | 45,447 | ||||||||||||
FTI Consulting, Inc.(a) | 48 | 9,197 | ||||||||||||
Jacobs Solutions, Inc. | 83 | 11,186 | ||||||||||||
KBR, Inc. | 187 | 9,745 | ||||||||||||
Leidos Holdings, Inc. | 49 | 5,413 | ||||||||||||
Science Applications International Corp. | 24 | 3,064 | ||||||||||||
TransUnion | 300 | 20,757 | ||||||||||||
Verisk Analytics, Inc. | 213 | 51,446 | ||||||||||||
198,540 |
The accompanying notes are an integral part of these financial statements.
75
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Restaurants - 1.3% | ||||||||||||||
Aramark | 90 | $ | 2,617 | |||||||||||
Chipotle Mexican Grill, Inc.(a) | 38 | 91,533 | ||||||||||||
Darden Restaurants, Inc. | 123 | 19,997 | ||||||||||||
Domino's Pizza, Inc. | 39 | 16,623 | ||||||||||||
DoorDash, Inc. - Class A(a) | 204 | 21,257 | ||||||||||||
Dutch Bros, Inc. - Class A(a) | 71 | 1,906 | ||||||||||||
McDonald's Corp. | 870 | 254,667 | ||||||||||||
Starbucks Corp. | 1,609 | 149,685 | ||||||||||||
Texas Roadhouse, Inc. | 87 | 10,938 | ||||||||||||
Wendy's Co. | 141 | 2,690 | ||||||||||||
Yum! Brands, Inc. | 391 | 50,631 | ||||||||||||
622,544 | ||||||||||||||
Semiconductor Materials & Equipment - 1.2% | ||||||||||||||
Amkor Technology, Inc. | 52 | 1,646 | ||||||||||||
Applied Materials, Inc. | 1,280 | 210,305 | ||||||||||||
Enphase Energy, Inc.(a) | 188 | 19,576 | ||||||||||||
Entegris, Inc. | 210 | 24,717 | ||||||||||||
KLA Corp. | 217 | 128,907 | ||||||||||||
Lam Research Corp. | 208 | 171,635 | ||||||||||||
MKS Instruments, Inc. | 64 | 6,813 | ||||||||||||
SolarEdge Technologies, Inc.(a) | 72 | 4,788 | ||||||||||||
Teradyne, Inc. | 234 | 22,602 | ||||||||||||
590,989 | ||||||||||||||
Semiconductors - 9.3% | ||||||||||||||
Advanced Micro Devices, Inc.(a) | 2,548 | 427,274 | ||||||||||||
Analog Devices, Inc. | 693 | 133,305 | ||||||||||||
Broadcom, Inc. | 626 | 738,680 | ||||||||||||
Cirrus Logic, Inc.(a) | 63 | 4,864 | ||||||||||||
First Solar, Inc.(a) | 148 | 21,652 | ||||||||||||
GlobalFoundries, Inc.(a)(c) | 109 | 5,993 | ||||||||||||
Lattice Semiconductor Corp.(a) | 210 | 12,781 | ||||||||||||
Marvell Technology, Inc. | 1,398 | 94,645 | ||||||||||||
Microchip Technology, Inc. | 790 | 67,292 | ||||||||||||
Monolithic Power Systems, Inc. | 72 | 43,396 | ||||||||||||
NVIDIA Corp. | 3,678 | 2,262,962 | ||||||||||||
NXP Semiconductors NV | 429 | 90,334 | ||||||||||||
ON Semiconductor Corp.(a) | 648 | 46,092 | ||||||||||||
Qorvo, Inc.(a) | 96 | 9,575 | ||||||||||||
QUALCOMM, Inc. | 1,245 | 184,895 | ||||||||||||
Rambus, Inc.(a) | 162 | 11,102 |
The accompanying notes are an integral part of these financial statements.
76
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Semiconductors - 9.3% (Continued) | ||||||||||||||
Silicon Laboratories, Inc.(a) | 39 | $ | 4,811 | |||||||||||
Skyworks Solutions, Inc. | 90 | 9,401 | ||||||||||||
Synaptics, Inc.(a) | 25 | 2,670 | ||||||||||||
Texas Instruments, Inc. | 1,205 | 192,945 | ||||||||||||
Universal Display Corp. | 58 | 9,847 | ||||||||||||
Wolfspeed, Inc.(a) | 181 | 5,892 | ||||||||||||
4,380,408 | ||||||||||||||
Soft Drinks & Non-alcoholic Beverages - 1.3% | ||||||||||||||
Celsius Holdings, Inc.(a) | 196 | 9,780 | ||||||||||||
Coca-Cola Co. | 3,934 | 234,034 | ||||||||||||
Keurig Dr Pepper, Inc. | 101 | 3,175 | ||||||||||||
Monster Beverage Corp.(a) | 1,152 | 63,383 | ||||||||||||
PepsiCo, Inc. | 1,753 | 295,434 | ||||||||||||
605,806 | ||||||||||||||
Specialized Consumer Services - 0.0%(b) | ||||||||||||||
Service Corp. International | 164 | 11,008 | ||||||||||||
Specialty Chemicals - 0.5% | ||||||||||||||
Albemarle Corp. | 170 | 19,506 | ||||||||||||
Ashland, Inc. | 18 | 1,685 | ||||||||||||
Axalta Coating Systems Ltd.(a) | 201 | 6,516 | ||||||||||||
DuPont de Nemours, Inc. | 180 | 11,124 | ||||||||||||
Ecolab, Inc. | 313 | 62,043 | ||||||||||||
Ginkgo Bioworks Holdings, Inc.(a)(c) | 2,152 | 2,604 | ||||||||||||
PPG Industries, Inc. | 214 | 30,183 | ||||||||||||
RPM International, Inc. | 144 | 15,359 | ||||||||||||
Sherwin-Williams Co. | 365 | 111,098 | ||||||||||||
260,118 | ||||||||||||||
Steel - 0.0%(b) | ||||||||||||||
Reliance Steel & Aluminum Co. | 8 | 2,283 | ||||||||||||
Systems Software - 11.7% | ||||||||||||||
Crowdstrike Holdings, Inc. - Class A(a) | 358 | 104,715 | ||||||||||||
CyberArk Software Ltd.(a) | 43 | 10,040 | ||||||||||||
Dolby Laboratories, Inc. - Class A | 62 | 5,157 | ||||||||||||
Fortinet, Inc.(a) | 998 | 64,361 | ||||||||||||
Gen Digital, Inc. | 561 | 13,172 | ||||||||||||
Gitlab, Inc. - Class A(a) | 140 | 9,955 | ||||||||||||
Microsoft Corp. | 11,547 | 4,590,857 | ||||||||||||
Monday.com Ltd.(a) | 34 | 7,141 |
The accompanying notes are an integral part of these financial statements.
77
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Systems Software - 11.7% (Continued) | ||||||||||||||
Oracle Corp. | 2,504 | $ | 279,698 | |||||||||||
Palo Alto Networks, Inc.(a) | 455 | 154,022 | ||||||||||||
SentinelOne, Inc. - Class A(a) | 344 | 9,219 | ||||||||||||
ServiceNow, Inc.(a) | 315 | 241,102 | ||||||||||||
Teradata Corp.(a) | 151 | 6,973 | ||||||||||||
UiPath, Inc. - Class A(a) | 555 | 12,754 | ||||||||||||
Zscaler, Inc.(a) | 138 | 32,522 | ||||||||||||
5,541,688 | ||||||||||||||
Technology Distributors - 0.1% | ||||||||||||||
CDW Corp. | 179 | 40,583 | ||||||||||||
Technology Hardware, Storage & Peripherals - 9.1% | ||||||||||||||
Apple, Inc. | 22,878 | 4,218,703 | ||||||||||||
NetApp, Inc. | 141 | 12,295 | ||||||||||||
Pure Storage, Inc. - Class A(a) | 450 | 17,996 | ||||||||||||
Seagate Technology Holdings PLC | 13 | 1,114 | ||||||||||||
Super Micro Computer, Inc.(a) | 74 | 39,191 | ||||||||||||
Western Digital Corp.(a) | 30 | 1,718 | ||||||||||||
4,291,017 | ||||||||||||||
Tobacco - 0.0%(b) | ||||||||||||||
Philip Morris International, Inc. | 13 | 1,181 | ||||||||||||
Trading Companies & Distributors - 0.5% | ||||||||||||||
Core & Main, Inc. - Class A(a) | 100 | 4,131 | ||||||||||||
Fastenal Co. | 830 | 56,631 | ||||||||||||
Ferguson PLC | 240 | 45,086 | ||||||||||||
SiteOne Landscape Supply, Inc.(a) | 58 | 8,964 | ||||||||||||
United Rentals, Inc. | 59 | 36,899 | ||||||||||||
Watsco, Inc. | 45 | 17,594 | ||||||||||||
WESCO International, Inc. | 22 | 3,817 | ||||||||||||
WW Grainger, Inc. | 64 | 57,321 | ||||||||||||
230,443 | ||||||||||||||
Transaction & Payment Processing Services - 3.4% | ||||||||||||||
Affirm Holdings, Inc.(a) | 309 | 12,518 | ||||||||||||
Block, Inc.(a) | 846 | 54,998 | ||||||||||||
Euronet Worldwide, Inc.(a) | 30 | 2,990 | ||||||||||||
Fiserv, Inc.(a) | 929 | 131,797 | ||||||||||||
FleetCor Technologies, Inc.(a) | 96 | 27,833 | ||||||||||||
Global Payments, Inc. | 109 | 14,522 | ||||||||||||
Jack Henry & Associates, Inc. | 96 | 15,920 |
The accompanying notes are an integral part of these financial statements.
78
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 96.7% (Continued) | Shares | Value | ||||||||||||
Transaction & Payment Processing Services - 3.4% (Continued) | ||||||||||||||
Mastercard, Inc. - Class A | 1,293 | $ | 580,854 | |||||||||||
PayPal Holdings, Inc.(a) | 1,708 | 104,786 | ||||||||||||
Toast, Inc. - Class A(a) | 612 | 10,875 | ||||||||||||
Visa, Inc. - Class A | 2,485 | 679,051 | ||||||||||||
WEX, Inc.(a) | 53 | 10,833 | ||||||||||||
1,646,977 | ||||||||||||||
Water Utilities - 0.1% | ||||||||||||||
American Water Works Co., Inc. | 188 | 23,315 | ||||||||||||
Essential Utilities, Inc. | 202 | 7,244 | ||||||||||||
30,559 | ||||||||||||||
Wireless Telecommunication Services - 0.1% | ||||||||||||||
T-Mobile US, Inc. | 386 | 62,235 | ||||||||||||
TOTAL COMMON STOCKS (Cost $39,659,291) | 46,194,130 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 1.8% | ||||||||||||||
Agree Realty Corp. | 17 | 1,013 | ||||||||||||
American Homes 4 Rent - Class A | 438 | 15,352 | ||||||||||||
American Tower Corp. | 726 | 142,042 | ||||||||||||
Americold Realty Trust, Inc. | 78 | 2,145 | ||||||||||||
AvalonBay Communities, Inc. | 102 | 18,258 | ||||||||||||
Brixmor Property Group, Inc. | 9 | 202 | ||||||||||||
Camden Property Trust | 101 | 9,478 | ||||||||||||
Crown Castle, Inc. | 418 | 45,249 | ||||||||||||
CubeSmart | 194 | 8,385 | ||||||||||||
Digital Realty Trust, Inc. | 250 | 35,115 | ||||||||||||
EastGroup Properties, Inc. | 54 | 9,581 | ||||||||||||
Equinix, Inc. | 152 | 126,125 | ||||||||||||
Equity LifeStyle Properties, Inc. | 234 | 15,839 | ||||||||||||
Equity Residential | 164 | 9,871 | ||||||||||||
Essex Property Trust, Inc. | 25 | 5,832 | ||||||||||||
Extra Space Storage, Inc. | 217 | 31,344 | ||||||||||||
Federal Realty Investment Trust | 24 | 2,442 | ||||||||||||
First Industrial Realty Trust, Inc. | 186 | 9,583 | ||||||||||||
Invitation Homes, Inc. | 924 | 30,428 | ||||||||||||
Iron Mountain, Inc. | 302 | 20,391 | ||||||||||||
Lamar Advertising Co. - Class A | 34 | 3,559 | ||||||||||||
Mid-America Apartment Communities, Inc. | 108 | 13,649 | ||||||||||||
National Storage Affiliates Trust | 41 | 1,531 | ||||||||||||
Prologis, Inc. | 1,317 | 166,850 | ||||||||||||
Public Storage | 59 | 16,708 | ||||||||||||
Rayonier, Inc. | 99 | 3,000 |
The accompanying notes are an integral part of these financial statements.
79
STRIVE 1000 GROWTH ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
REAL ESTATE INVESTMENT TRUSTS - 1.8% (Continued) | Shares | Value | ||||||||||||
Realty Income Corp. | 13 | $ | 707 | |||||||||||
Regency Centers Corp. | 48 | 3,008 | ||||||||||||
Rexford Industrial Realty, Inc. | 325 | 17,092 | ||||||||||||
SBA Communications Corp. | 162 | 36,265 | ||||||||||||
STAG Industrial, Inc. | 102 | 3,768 | ||||||||||||
Sun Communities, Inc. | 166 | 20,808 | ||||||||||||
UDR, Inc. | 277 | 9,978 | ||||||||||||
Welltower, Inc. | 140 | 12,111 | ||||||||||||
Weyerhaeuser Co. | 500 | 16,385 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $836,812) | 864,094 | |||||||||||||
CONTINGENT VALUE RIGHTS - 0.0%(b) | ||||||||||||||
Healthcare-Products - 0.0%(b) | ||||||||||||||
ABIOMED INC, Exercise Price $0.00(a)(d) | 4 | 0 | ||||||||||||
TOTAL CONTINGENT VALUE RIGHTS (Cost $0) | 0 | |||||||||||||
SHORT-TERM INVESTMENTS - 1.0% | ||||||||||||||
Investments Purchased with Proceeds from Securities Lending - 0.1% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(e) | 34,415 | 34,415 | ||||||||||||
Money Market Funds - 0.9% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(e) | 437,129 | 437,129 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $471,544) | 471,544 | |||||||||||||
TOTAL INVESTMENTS - 99.5% (Cost $40,967,647) | $ | 47,529,768 | ||||||||||||
Other Assets in Excess of Liabilities - 0.5% | 232,440 | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 47,762,208 |
Percentages are stated as a percent of net assets. |
PLC - Public Limited Company | ||
SA - Sociedad Anónima |
(a) | Non-income producing security. | |||||||
(b) | Represents less than 0.05% of net assets. | |||||||
(c) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $32,197 which represented 0.1% of net assets. | |||||||
(d) | Value determined using significant unobservable inputs. | |||||||
(e) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
80
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% | Shares | Value | ||||||||||||
Advertising - 0.2% | ||||||||||||||
Interpublic Group of Cos., Inc. | 612 | $ | 20,190 | |||||||||||
Omnicom Group, Inc. | 358 | 32,356 | ||||||||||||
52,546 | ||||||||||||||
Aerospace & Defense - 2.5% | ||||||||||||||
BWX Technologies, Inc. | 25 | 2,037 | ||||||||||||
Curtiss-Wright Corp. | 18 | 4,006 | ||||||||||||
General Dynamics Corp. | 366 | 96,986 | ||||||||||||
Hexcel Corp. | 69 | 4,581 | ||||||||||||
Howmet Aerospace, Inc. | 406 | 22,842 | ||||||||||||
Huntington Ingalls Industries, Inc. | 36 | 9,321 | ||||||||||||
L3Harris Technologies, Inc. | 217 | 45,227 | ||||||||||||
Lockheed Martin Corp. | 279 | 119,806 | ||||||||||||
Northrop Grumman Corp. | 130 | 58,079 | ||||||||||||
RTX Corp. | 2,727 | 248,485 | ||||||||||||
Textron, Inc. | 333 | 28,208 | ||||||||||||
Woodward, Inc. | 55 | 7,577 | ||||||||||||
647,155 | ||||||||||||||
Agricultural & Farm Machinery - 0.1% | ||||||||||||||
AGCO Corp. | 116 | 14,190 | ||||||||||||
Deere & Co. | 34 | 13,382 | ||||||||||||
Toro Co. | 1 | 92 | ||||||||||||
27,664 | ||||||||||||||
Agricultural Products & Services - 0.4% | ||||||||||||||
Archer-Daniels-Midland Co. | 997 | 55,413 | ||||||||||||
Bunge Global S.A. | 270 | 23,784 | ||||||||||||
Darling Ingredients, Inc.(a) | 36 | 1,559 | ||||||||||||
Ingredion, Inc. | 119 | 12,801 | ||||||||||||
93,557 | ||||||||||||||
Air Freight & Logistics - 1.0% | ||||||||||||||
CH Robinson Worldwide, Inc. | 204 | 17,154 | ||||||||||||
Expeditors International of Washington, Inc. | 20 | 2,527 | ||||||||||||
FedEx Corp. | 433 | 104,479 | ||||||||||||
GXO Logistics, Inc.(a) | 58 | 3,154 | ||||||||||||
United Parcel Service, Inc. - Class B | 988 | 140,197 | ||||||||||||
267,511 | ||||||||||||||
Alternative Carriers - 0.0%(b) | ||||||||||||||
EchoStar Corp. - Class A(a) | 155 | 2,075 |
The accompanying notes are an integral part of these financial statements.
81
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Aluminum - 0.0%(b) | ||||||||||||||
Alcoa Corp. | 328 | $ | 9,758 | |||||||||||
Apparel Retail - 0.1% | ||||||||||||||
Gap, Inc. | 354 | 6,616 | ||||||||||||
Ross Stores, Inc. | 110 | 15,431 | ||||||||||||
TJX Cos., Inc. | 3 | 285 | ||||||||||||
22,332 | ||||||||||||||
Apparel, Accessories & Luxury Goods - 0.2% | ||||||||||||||
Capri Holdings Ltd.(a) | 221 | 10,772 | ||||||||||||
Columbia Sportswear Co. | 31 | 2,457 | ||||||||||||
Levi Strauss & Co. - Class A | 158 | 2,572 | ||||||||||||
PVH Corp. | 115 | 13,830 | ||||||||||||
Ralph Lauren Corp. | 44 | 6,321 | ||||||||||||
Tapestry, Inc. | 364 | 14,119 | ||||||||||||
Under Armour, Inc. - Class A(a) | 346 | 2,637 | ||||||||||||
Under Armour, Inc. - Class C(a) | 362 | 2,679 | ||||||||||||
VF Corp. | 647 | 10,650 | ||||||||||||
66,037 | ||||||||||||||
Application Software - 0.1% | ||||||||||||||
Appfolio, Inc. - Class A(a) | 2 | 439 | ||||||||||||
Aspen Technology, Inc.(a) | 13 | 2,496 | ||||||||||||
CCC Intelligent Solutions Holdings, Inc.(a) | 125 | 1,374 | ||||||||||||
Guidewire Software, Inc.(a) | 64 | 7,147 | ||||||||||||
Procore Technologies, Inc.(a) | 8 | 571 | ||||||||||||
Roper Technologies, Inc. | 9 | 4,833 | ||||||||||||
16,860 | ||||||||||||||
Asset Management & Custody Banks - 1.7% | ||||||||||||||
Affiliated Managers Group, Inc. | 45 | 6,698 | ||||||||||||
Ameriprise Financial, Inc. | 97 | 37,523 | ||||||||||||
Bank of New York Mellon Corp. | 1,449 | 80,362 | ||||||||||||
BlackRock, Inc. | 117 | 90,594 | ||||||||||||
Blue Owl Capital, Inc. - Class A | 343 | 5,330 | ||||||||||||
Carlyle Group, Inc. | 454 | 18,169 | ||||||||||||
Franklin Resources, Inc. | 540 | 14,380 | ||||||||||||
Invesco Ltd. | 824 | 13,044 | ||||||||||||
KKR & Co., Inc. | 260 | 22,511 | ||||||||||||
Northern Trust Corp. | 363 | 28,909 | ||||||||||||
SEI Investments Co. | 77 | 4,869 |
The accompanying notes are an integral part of these financial statements.
82
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Asset Management & Custody Banks - 1.7% (Continued) | ||||||||||||||
State Street Corp. | 541 | $ | 39,964 | |||||||||||
T Rowe Price Group, Inc. | 410 | 44,465 | ||||||||||||
TPG, Inc. | 105 | 4,371 | ||||||||||||
411,189 | ||||||||||||||
Automobile Manufacturers - 1.1% | ||||||||||||||
Ford Motor Co. | 7,445 | 87,255 | ||||||||||||
General Motors Co. | 2,547 | 98,824 | ||||||||||||
Stellantis N.V. | 4,035 | 88,608 | ||||||||||||
Thor Industries, Inc. | 96 | 10,850 | ||||||||||||
285,537 | ||||||||||||||
Automotive Parts & Equipment - 0.2% | ||||||||||||||
Aptiv PLC(a) | 238 | 19,357 | ||||||||||||
BorgWarner, Inc. | 431 | 14,611 | ||||||||||||
Gentex Corp. | 206 | 6,825 | ||||||||||||
Lear Corp. | 108 | 14,353 | ||||||||||||
55,146 | ||||||||||||||
Automotive Retail - 0.2% | ||||||||||||||
Advance Auto Parts, Inc. | 104 | 6,952 | ||||||||||||
AutoNation, Inc.(a) | 59 | 8,240 | ||||||||||||
CarMax, Inc.(a) | 113 | 8,043 | ||||||||||||
Carvana Co.(a) | 5 | 215 | ||||||||||||
Lithia Motors, Inc. | 45 | 13,269 | ||||||||||||
Murphy USA, Inc. | 8 | 2,820 | ||||||||||||
Penske Automotive Group, Inc. | 34 | 5,045 | ||||||||||||
Valvoline, Inc.(a) | 147 | 5,364 | ||||||||||||
49,948 | ||||||||||||||
Biotechnology - 3.2% | ||||||||||||||
AbbVie, Inc. | 2,208 | 362,995 | ||||||||||||
Amgen, Inc. | 695 | 218,411 | ||||||||||||
Biogen, Inc.(a) | 207 | 51,059 | ||||||||||||
Denali Therapeutics, Inc.(a) | 43 | 688 | ||||||||||||
Gilead Sciences, Inc. | 2,345 | 183,520 | ||||||||||||
Ionis Pharmaceuticals, Inc.(a) | 251 | 12,899 | ||||||||||||
829,572 | ||||||||||||||
Brewers - 0.1% | ||||||||||||||
Boston Beer Co., Inc. - Class A(a) | 2 | 699 | ||||||||||||
Molson Coors Beverage Co. - Class B | 335 | 20,699 | ||||||||||||
21,398 |
The accompanying notes are an integral part of these financial statements.
83
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Broadcasting - 0.2% | ||||||||||||||
Fox Corp. - Class A | 500 | $ | 16,151 | |||||||||||
Fox Corp. - Class B | 240 | 7,202 | ||||||||||||
Nexstar Media Group, Inc. - Class A | 57 | 10,129 | ||||||||||||
Paramount Global - Class A(c) | 13 | 303 | ||||||||||||
Paramount Global - Class B | 903 | 13,175 | ||||||||||||
46,960 | ||||||||||||||
Broadline Retail - 0.1% | ||||||||||||||
Dillard's, Inc. - Class A | 5 | 1,936 | ||||||||||||
eBay, Inc. | 590 | 24,232 | ||||||||||||
Macy's, Inc. | 525 | 9,602 | ||||||||||||
35,770 | ||||||||||||||
Building Products - 0.6% | ||||||||||||||
A.O. Smith Corp. | 38 | 2,949 | ||||||||||||
Allegion PLC | 46 | 5,699 | ||||||||||||
Armstrong World Industries, Inc. | 36 | 3,572 | ||||||||||||
Builders FirstSource, Inc.(a) | 70 | 12,161 | ||||||||||||
Carlisle Cos., Inc. | 22 | 6,914 | ||||||||||||
Carrier Global Corp. | 371 | 20,297 | ||||||||||||
Fortune Brands Innovations, Inc. | 157 | 12,182 | ||||||||||||
Johnson Controls International PLC | 307 | 16,176 | ||||||||||||
Lennox International, Inc. | 1 | 428 | ||||||||||||
Masco Corp. | 239 | 16,082 | ||||||||||||
Owens Corning | 139 | 21,063 | ||||||||||||
Trane Technologies PLC | 98 | 24,701 | ||||||||||||
142,224 | ||||||||||||||
Cable & Satellite - 1.6% | ||||||||||||||
Cable One, Inc. | 7 | 3,843 | ||||||||||||
Charter Communications, Inc. - Class A(a) | 101 | 37,442 | ||||||||||||
Comcast Corp. - Class A | 7,657 | 356,356 | ||||||||||||
Sirius XM Holdings, Inc. | 871 | 4,433 | ||||||||||||
402,074 | ||||||||||||||
Cargo Ground Transportation - 0.2% | ||||||||||||||
Knight-Swift Transportation Holdings, Inc. | 291 | 16,698 | ||||||||||||
Landstar System, Inc. | 17 | 3,259 | ||||||||||||
U-Haul Holding Co. | 104 | 6,642 | ||||||||||||
U-Haul Holding Co.(a) | 7 | 464 | ||||||||||||
XPO, Inc.(a) | 209 | 17,857 | ||||||||||||
44,920 |
The accompanying notes are an integral part of these financial statements.
84
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Casinos & Gaming - 0.3% | ||||||||||||||
Boyd Gaming Corp. | 72 | $ | 4,571 | |||||||||||
Caesars Entertainment, Inc.(a) | 135 | 5,922 | ||||||||||||
International Game Technology PLC | 200 | 5,192 | ||||||||||||
Las Vegas Sands Corp. | 616 | 30,135 | ||||||||||||
Light & Wonder, Inc. - Class A(a) | 1 | 80 | ||||||||||||
MGM Resorts International(a) | 480 | 20,818 | ||||||||||||
Penn Entertainment, Inc.(a) | 289 | 6,517 | ||||||||||||
73,235 | ||||||||||||||
Commercial & Residential Mortgage Finance - 0.1% | ||||||||||||||
Essent Group Ltd. | 202 | 11,142 | ||||||||||||
MGIC Investment Corp. | 527 | 10,456 | ||||||||||||
Radian Group, Inc. | 291 | 8,433 | ||||||||||||
UWM Holdings Corp.(c) | 77 | 516 | ||||||||||||
30,547 | ||||||||||||||
Commodity Chemicals - 0.5% | ||||||||||||||
Dow, Inc. | 1,357 | 72,735 | ||||||||||||
LyondellBasell Industries N.V. - Class A | 486 | 45,742 | ||||||||||||
Olin Corp. | 119 | 6,196 | ||||||||||||
Westlake Corp. | 54 | 7,471 | ||||||||||||
132,144 | ||||||||||||||
Communications Equipment - 1.1% | ||||||||||||||
Ciena Corp.(a) | 110 | 5,830 | ||||||||||||
Cisco Systems, Inc. | 5,241 | 262,994 | ||||||||||||
F5, Inc.(a) | 36 | 6,613 | ||||||||||||
Juniper Networks, Inc. | 363 | 13,416 | ||||||||||||
288,853 | ||||||||||||||
Computer & Electronics Retail - 0.1% | ||||||||||||||
Best Buy Co., Inc. | 359 | 26,024 | ||||||||||||
GameStop Corp. - Class A(a)(c) | 301 | 4,283 | ||||||||||||
30,307 | ||||||||||||||
Construction & Engineering - 0.1% | ||||||||||||||
AECOM | 116 | 10,230 | ||||||||||||
API Group Corp.(a) | 72 | 2,269 | ||||||||||||
EMCOR Group, Inc. | 26 | 5,931 | ||||||||||||
MasTec, Inc.(a) | 30 | 1,970 | ||||||||||||
MDU Resources Group, Inc. | 368 | 7,180 | ||||||||||||
Valmont Industries, Inc. | 4 | 903 | ||||||||||||
28,483 |
The accompanying notes are an integral part of these financial statements.
85
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Construction Machinery & Heavy Transportation Equipment - 1.1% | ||||||||||||||
Allison Transmission Holdings, Inc. | 161 | $ | 9,747 | |||||||||||
Caterpillar, Inc. | 486 | 145,950 | ||||||||||||
Oshkosh Corp. | 119 | 13,102 | ||||||||||||
PACCAR, Inc. | 928 | 93,162 | ||||||||||||
Westinghouse Air Brake Technologies Corp. | 175 | 23,025 | ||||||||||||
284,986 | ||||||||||||||
Construction Machinery & Heavy Trucks - 0.2% | ||||||||||||||
Cummins, Inc. | 227 | 54,321 | ||||||||||||
Construction Materials - 0.0%(b) | ||||||||||||||
Eagle Materials, Inc. | 3 | 679 | ||||||||||||
Consumer Electronics - 0.1% | ||||||||||||||
Garmin Ltd. | 134 | 16,012 | ||||||||||||
Consumer Finance - 1.2% | ||||||||||||||
Ally Financial, Inc. | 531 | 19,477 | ||||||||||||
American Express Co. | 483 | 96,957 | ||||||||||||
Capital One Financial Corp. | 686 | 92,830 | ||||||||||||
Credit Acceptance Corp.(a) | 3 | 1,623 | ||||||||||||
Discover Financial Services | 366 | 38,620 | ||||||||||||
OneMain Holdings, Inc. | 221 | 10,520 | ||||||||||||
SLM Corp. | 415 | 8,250 | ||||||||||||
SoFi Technologies, Inc.(a)(c) | 197 | 1,543 | ||||||||||||
Synchrony Financial | 779 | 30,280 | ||||||||||||
300,100 | ||||||||||||||
Consumer Staples Merchandise Retail - 1.7% | ||||||||||||||
BJ's Wholesale Club Holdings, Inc.(a) | 163 | 10,487 | ||||||||||||
Dollar General Corp. | 164 | 21,659 | ||||||||||||
Dollar Tree, Inc.(a) | 110 | 14,368 | ||||||||||||
Target Corp. | 777 | 108,065 | ||||||||||||
Walmart, Inc. | 1,682 | 277,952 | ||||||||||||
432,531 | ||||||||||||||
Copper - 0.1% | ||||||||||||||
Freeport-McMoRan, Inc. | 807 | 32,030 | ||||||||||||
Data Processing & Outsourced Services - 0.1% | ||||||||||||||
Broadridge Financial Solutions, Inc. | 4 | 817 | ||||||||||||
Concentrix Corp. | 105 | 9,331 |
The accompanying notes are an integral part of these financial statements.
86
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Data Processing & Outsourced Services - 0.1% (Continued) | ||||||||||||||
Genpact Ltd. | 174 | $ | 6,247 | |||||||||||
Maximus, Inc. | 25 | 2,028 | ||||||||||||
SS&C Technologies Holdings, Inc. | 157 | 9,580 | ||||||||||||
28,003 | ||||||||||||||
Distillers & Vintners - 0.2% | ||||||||||||||
Constellation Brands, Inc. - Class A | 167 | 40,928 | ||||||||||||
Distributors - 0.1% | ||||||||||||||
Genuine Parts Co. | 125 | 17,529 | ||||||||||||
LKQ Corp. | 349 | 16,288 | ||||||||||||
33,817 | ||||||||||||||
Diversified Banks - 8.9% | ||||||||||||||
Bank of America Corp. | 12,910 | 439,068 | ||||||||||||
Citigroup, Inc. | 3,517 | 197,550 | ||||||||||||
Comerica, Inc. | 239 | 12,567 | ||||||||||||
Fifth Third Bancorp | 1,270 | 43,485 | ||||||||||||
First Citizens BancShares, Inc. - Class A | 6 | 9,060 | ||||||||||||
JPMorgan Chase & Co. | 5,449 | 950,087 | ||||||||||||
KeyCorp | 1,752 | 25,457 | ||||||||||||
PNC Financial Services Group, Inc. | 735 | 111,139 | ||||||||||||
U.S. Bancorp | 2,892 | 120,134 | ||||||||||||
Wells Fargo & Co. | 6,891 | 345,790 | ||||||||||||
2,254,337 | ||||||||||||||
Diversified Chemicals - 0.0%(b) | ||||||||||||||
Huntsman Corp. | 319 | 7,828 | ||||||||||||
Diversified Financial Services - 0.2% | ||||||||||||||
Apollo Global Management, Inc. | 212 | 21,285 | ||||||||||||
Corebridge Financial, Inc. | 307 | 7,420 | ||||||||||||
Equitable Holdings, Inc. | 655 | 21,412 | ||||||||||||
Voya Financial, Inc. | 172 | 12,448 | ||||||||||||
62,565 | ||||||||||||||
Diversified Support Services - 0.0%(b) | ||||||||||||||
Vestis Corp. | 166 | 3,552 | ||||||||||||
Drug Retail - 0.1% | ||||||||||||||
Walgreens Boots Alliance, Inc. | 1,330 | 30,018 | ||||||||||||
Education Services - 0.0%(b) | ||||||||||||||
Bright Horizons Family Solutions, Inc.(a) | 27 | 2,653 |
The accompanying notes are an integral part of these financial statements.
87
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Electric Utilities - 3.9% | ||||||||||||||
Alliant Energy Corp. | 363 | $ | 17,664 | |||||||||||
American Electric Power Co., Inc. | 967 | 75,561 | ||||||||||||
Avangrid, Inc. | 130 | 3,949 | ||||||||||||
Constellation Energy Corp. | 610 | 74,420 | ||||||||||||
Duke Energy Corp. | 1,448 | 138,761 | ||||||||||||
Edison International | 714 | 48,181 | ||||||||||||
Entergy Corp. | 394 | 39,305 | ||||||||||||
Evergy, Inc. | 421 | 21,374 | ||||||||||||
Eversource Energy | 640 | 34,701 | ||||||||||||
Exelon Corp. | 1,864 | 64,886 | ||||||||||||
FirstEnergy Corp. | 1,016 | 37,267 | ||||||||||||
Hawaiian Electric Industries, Inc. | 202 | 2,620 | ||||||||||||
IDACORP, Inc. | 62 | 5,740 | ||||||||||||
NextEra Energy, Inc. | 1,292 | 75,750 | ||||||||||||
NRG Energy, Inc. | 423 | 22,436 | ||||||||||||
OGE Energy Corp. | 366 | 12,166 | ||||||||||||
PG&E Corp. | 3,908 | 65,928 | ||||||||||||
Pinnacle West Capital Corp. | 220 | 15,158 | ||||||||||||
PNM Resources, Inc. | 137 | 4,964 | ||||||||||||
Portland General Electric Co. | 173 | 7,081 | ||||||||||||
PPL Corp. | 1,366 | 35,789 | ||||||||||||
Southern Co. | 1,790 | 124,441 | ||||||||||||
Xcel Energy, Inc. | 1,006 | 60,229 | ||||||||||||
988,371 | ||||||||||||||
Electrical Components & Equipment - 0.6% | ||||||||||||||
Acuity Brands, Inc. | 42 | 10,003 | ||||||||||||
AMETEK, Inc. | 1 | 162 | ||||||||||||
Eaton Corp. PLC | 176 | 43,310 | ||||||||||||
Emerson Electric Co. | 627 | 57,514 | ||||||||||||
Hubbell, Inc. | 10 | 3,356 | ||||||||||||
NEXTracker, Inc. - Class A(a) | 128 | 5,795 | ||||||||||||
nVent Electric PLC | 63 | 3,783 | ||||||||||||
Regal Rexnord Corp. | 80 | 10,676 | ||||||||||||
Sensata Technologies Holding PLC | 206 | 7,451 | ||||||||||||
Sunrun, Inc.(a) | 243 | 3,519 | ||||||||||||
145,569 | ||||||||||||||
Electronic Components - 0.2% | ||||||||||||||
Coherent Corp.(a) | 43 | 2,044 | ||||||||||||
Corning, Inc. | 1,230 | 39,963 |
The accompanying notes are an integral part of these financial statements.
88
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Electronic Components - 0.2% (Continued) | ||||||||||||||
Littelfuse, Inc. | 1 | $ | 242 | |||||||||||
42,249 | ||||||||||||||
Electronic Equipment & Instruments - 0.0%(b) | ||||||||||||||
Teledyne Technologies, Inc.(a) | 5 | 2,092 | ||||||||||||
Trimble, Inc.(a) | 36 | 1,831 | ||||||||||||
Vontier Corp. | 148 | 5,120 | ||||||||||||
9,043 | ||||||||||||||
Electronic Manufacturing Services - 0.3% | ||||||||||||||
Flex Ltd.(a) | 752 | 17,852 | ||||||||||||
IPG Photonics Corp.(a) | 13 | 1,273 | ||||||||||||
Jabil, Inc. | 156 | 19,545 | ||||||||||||
TE Connectivity Ltd. | 253 | 35,975 | ||||||||||||
74,645 | ||||||||||||||
Environmental & Facilities Services - 0.1% | ||||||||||||||
Republic Services, Inc. | 24 | 4,107 | ||||||||||||
Stericycle, Inc.(a) | 155 | 7,440 | ||||||||||||
Waste Management, Inc. | 41 | 7,611 | ||||||||||||
19,158 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.2% | ||||||||||||||
CF Industries Holdings, Inc. | 356 | 26,881 | ||||||||||||
FMC Corp. | 133 | 7,475 | ||||||||||||
Mosaic Co. | 616 | 18,917 | ||||||||||||
Scotts Miracle-Gro Co. | 72 | 4,051 | ||||||||||||
57,324 | ||||||||||||||
Financial Exchanges & Data - 0.6% | ||||||||||||||
Cboe Global Markets, Inc. | 1 | 184 | ||||||||||||
CME Group, Inc. | 549 | 113,006 | ||||||||||||
Intercontinental Exchange, Inc. | 236 | 30,050 | ||||||||||||
Nasdaq, Inc. | 253 | 14,616 | ||||||||||||
157,856 | ||||||||||||||
Food Distributors - 0.3% | ||||||||||||||
Performance Food Group Co.(a) | 273 | 19,842 | ||||||||||||
Sysco Corp. | 840 | 67,981 | ||||||||||||
87,823 |
The accompanying notes are an integral part of these financial statements.
89
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Food Retail - 0.3% | ||||||||||||||
Albertsons Cos., Inc. - Class A | 576 | $ | 12,223 | |||||||||||
Casey's General Stores, Inc. | 24 | 6,513 | ||||||||||||
Kroger Co. | 1,234 | 56,936 | ||||||||||||
75,672 | ||||||||||||||
Footwear - 0.0%(b) | ||||||||||||||
Skechers USA, Inc. - Class A(a) | 80 | 4,995 | ||||||||||||
Gas Utilities - 0.2% | ||||||||||||||
Atmos Energy Corp. | 297 | 33,840 | ||||||||||||
National Fuel Gas Co. | 160 | 7,546 | ||||||||||||
UGI Corp. | 391 | 8,657 | ||||||||||||
50,043 | ||||||||||||||
Gold - 0.2% | ||||||||||||||
Newmont Corp. | 1,454 | 50,178 | ||||||||||||
Health Care Distributors - 1.0% | ||||||||||||||
Cardinal Health, Inc. | 465 | 50,773 | ||||||||||||
Cencora, Inc. | 319 | 74,225 | ||||||||||||
Henry Schein, Inc.(a) | 129 | 9,654 | ||||||||||||
McKesson Corp. | 244 | 121,974 | ||||||||||||
256,626 | ||||||||||||||
Health Care Equipment - 1.3% | ||||||||||||||
Abbott Laboratories | 174 | 19,688 | ||||||||||||
Baxter International, Inc. | 676 | 26,154 | ||||||||||||
Becton Dickinson & Co. | 212 | 50,628 | ||||||||||||
Envista Holdings Corp.(a) | 263 | 6,181 | ||||||||||||
GE HealthCare Technologies, Inc. | 98 | 7,189 | ||||||||||||
Hologic, Inc.(a) | 122 | 9,082 | ||||||||||||
Integra LifeSciences Holdings Corp.(a) | 74 | 2,971 | ||||||||||||
Medtronic PLC | 1,992 | 174,379 | ||||||||||||
Novocure Ltd.(a) | 65 | 904 | ||||||||||||
QuidelOrtho Corp.(a) | 4 | 274 | ||||||||||||
Teleflex, Inc. | 20 | 4,857 | ||||||||||||
Zimmer Biomet Holdings, Inc. | 194 | 24,366 | ||||||||||||
326,673 | ||||||||||||||
Health Care Facilities - 0.3% | ||||||||||||||
Acadia Healthcare Co., Inc.(a) | 49 | 4,025 | ||||||||||||
Encompass Health Corp. | 121 | 8,596 | ||||||||||||
HCA Healthcare, Inc. | 153 | 46,650 |
The accompanying notes are an integral part of these financial statements.
90
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Health Care Facilities - 0.3% (Continued) | ||||||||||||||
Tenet Healthcare Corp.(a) | 176 | $ | 14,562 | |||||||||||
Universal Health Services, Inc. - Class B | 79 | 12,546 | ||||||||||||
86,379 | ||||||||||||||
Health Care Services - 1.6% | ||||||||||||||
Cigna Group | 557 | 167,629 | ||||||||||||
CVS Health Corp. | 2,381 | 177,074 | ||||||||||||
DaVita, Inc.(a) | 41 | 4,435 | ||||||||||||
Laboratory Corp. of America Holdings | 157 | 34,901 | ||||||||||||
Premier, Inc. - Class A | 216 | 4,670 | ||||||||||||
Quest Diagnostics, Inc. | 121 | 15,540 | ||||||||||||
R1 RCM, Inc.(a) | 40 | 410 | ||||||||||||
404,659 | ||||||||||||||
Health Care Supplies - 0.0%(b) | ||||||||||||||
Dentsply Sirona, Inc. | 203 | 7,054 | ||||||||||||
ICU Medical, Inc.(a) | 20 | 1,831 | ||||||||||||
8,885 | ||||||||||||||
Home Furnishings - 0.1% | ||||||||||||||
Leggett & Platt, Inc. | 240 | 5,570 | ||||||||||||
Mohawk Industries, Inc.(a) | 101 | 10,530 | ||||||||||||
16,100 | ||||||||||||||
Home Improvement Retail - 0.8% | ||||||||||||||
Home Depot, Inc. | 491 | 173,304 | ||||||||||||
Lowe's Cos., Inc. | 154 | 32,777 | ||||||||||||
206,081 | ||||||||||||||
Homebuilding - 0.8% | ||||||||||||||
DR Horton, Inc. | 428 | 61,165 | ||||||||||||
Lennar Corp. - Class A | 455 | 68,181 | ||||||||||||
Lennar Corp. - Class B | 18 | 2,498 | ||||||||||||
NVR, Inc.(a) | 2 | 14,151 | ||||||||||||
PulteGroup, Inc. | 407 | 42,556 | ||||||||||||
Toll Brothers, Inc. | 202 | 20,069 | ||||||||||||
208,620 | ||||||||||||||
Homefurnishing Retail - 0.1% | ||||||||||||||
RH(a) | 1 | 253 | ||||||||||||
Williams-Sonoma, Inc. | 116 | 22,434 | ||||||||||||
22,687 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
91
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Hotels, Resorts & Cruise Lines - 0.4% | ||||||||||||||
Carnival Corp.(a) | 1,860 | $ | 30,839 | |||||||||||
Choice Hotels International, Inc. | 1 | 121 | ||||||||||||
Expedia Group, Inc.(a) | 223 | 33,077 | ||||||||||||
Hyatt Hotels Corp. - Class A | 26 | 3,338 | ||||||||||||
Marriott International, Inc. - Class A | 4 | 959 | ||||||||||||
Marriott Vacations Worldwide Corp. | 53 | 4,446 | ||||||||||||
Norwegian Cruise Line Holdings Ltd.(a) | 830 | 14,774 | ||||||||||||
Travel + Leisure Co. | 131 | 5,295 | ||||||||||||
Wyndham Hotels & Resorts, Inc. | 101 | 7,871 | ||||||||||||
100,720 | ||||||||||||||
Household Appliances - 0.0%(b) | ||||||||||||||
Whirlpool Corp. | 101 | 11,062 | ||||||||||||
Household Products - 1.2% | ||||||||||||||
Church & Dwight Co., Inc. | 37 | 3,694 | ||||||||||||
Clorox Co. | 58 | 8,425 | ||||||||||||
Colgate-Palmolive Co. | 750 | 63,150 | ||||||||||||
Kimberly-Clark Corp. | 370 | 44,759 | ||||||||||||
Procter & Gamble Co. | 1,190 | 186,996 | ||||||||||||
Reynolds Consumer Products, Inc. | 46 | 1,250 | ||||||||||||
308,274 | ||||||||||||||
Housewares & Specialties - 0.0%(b) | ||||||||||||||
Newell Brands, Inc. | 747 | 6,215 | ||||||||||||
Human Resource & Employment Services - 0.1% | ||||||||||||||
ManpowerGroup, Inc. | 82 | 6,079 | ||||||||||||
Paychex, Inc. | 118 | 14,365 | ||||||||||||
Robert Half, Inc. | 135 | 10,738 | ||||||||||||
TriNet Group, Inc.(a) | 3 | 341 | ||||||||||||
31,523 | ||||||||||||||
Independent Power Producers & Energy Traders - 0.2% | ||||||||||||||
AES Corp. | 1,225 | 20,433 | ||||||||||||
Vistra Corp. | 611 | 25,069 | ||||||||||||
45,502 | ||||||||||||||
Industrial Conglomerates - 1.6% | ||||||||||||||
3M Co. | 1,030 | 97,181 | ||||||||||||
General Electric Co. | 1,610 | 213,196 | ||||||||||||
Honeywell International, Inc. | 524 | 105,984 | ||||||||||||
416,361 |
The accompanying notes are an integral part of these financial statements.
92
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Industrial Gases - 0.1% | ||||||||||||||
Air Products and Chemicals, Inc. | 56 | $ | 14,320 | |||||||||||
Industrial Machinery & Supplies & Components - 0.7% | ||||||||||||||
Crane Co. | 17 | 2,110 | ||||||||||||
Crane NXT Co. | 72 | 4,196 | ||||||||||||
Donaldson Co., Inc. | 69 | 4,457 | ||||||||||||
Dover Corp. | 61 | 9,137 | ||||||||||||
Flowserve Corp. | 122 | 4,871 | ||||||||||||
Fortive Corp. | 307 | 24,001 | ||||||||||||
Gates Industrial Corp. PLC(a) | 220 | 2,834 | ||||||||||||
IDEX Corp. | 1 | 212 | ||||||||||||
Illinois Tool Works, Inc. | 118 | 30,786 | ||||||||||||
Ingersoll Rand, Inc. | 12 | 958 | ||||||||||||
ITT, Inc. | 51 | 6,160 | ||||||||||||
Middleby Corp.(a) | 29 | 4,091 | ||||||||||||
Otis Worldwide Corp. | 120 | 10,613 | ||||||||||||
Parker-Hannifin Corp. | 36 | 16,722 | ||||||||||||
Pentair PLC | 61 | 4,463 | ||||||||||||
Snap-on, Inc. | 47 | 13,627 | ||||||||||||
Stanley Black & Decker, Inc. | 274 | 25,564 | ||||||||||||
Timken Co. | 96 | 7,863 | ||||||||||||
Xylem, Inc. | 65 | 7,309 | ||||||||||||
179,974 | ||||||||||||||
Insurance Brokers - 0.1% | ||||||||||||||
Arthur J. Gallagher & Co. | 2 | 464 | ||||||||||||
Willis Towers Watson PLC | 59 | 14,532 | ||||||||||||
14,996 | ||||||||||||||
Integrated Oil & Gas - 4.9% | ||||||||||||||
Chevron Corp. | 3,308 | 487,698 | ||||||||||||
Exxon Mobil Corp. | 6,640 | 682,658 | ||||||||||||
Occidental Petroleum Corp. | 1,267 | 72,941 | ||||||||||||
1,243,297 | ||||||||||||||
Integrated Telecommunication Services - 2.2% | ||||||||||||||
AT&T, Inc. | 13,781 | 243,786 | ||||||||||||
Frontier Communications Parent, Inc.(a) | 452 | 11,133 | ||||||||||||
Verizon Communications, Inc. | 7,456 | 315,761 | ||||||||||||
570,680 |
The accompanying notes are an integral part of these financial statements.
93
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Interactive Home Entertainment - 0.1% | ||||||||||||||
Electronic Arts, Inc. | 45 | $ | 6,191 | |||||||||||
Playtika Holding Corp.(a) | 46 | 332 | ||||||||||||
Take-Two Interactive Software, Inc.(a) | 63 | 10,391 | ||||||||||||
16,914 | ||||||||||||||
Interactive Media & Services - 0.1% | ||||||||||||||
IAC, Inc.(a) | 60 | 3,013 | ||||||||||||
Match Group, Inc.(a) | 517 | 19,841 | ||||||||||||
Pinterest, Inc. - Class A(a) | 148 | 5,546 | ||||||||||||
Ziff Davis, Inc.(a) | 52 | 3,505 | ||||||||||||
31,905 | ||||||||||||||
Internet Services & Infrastructure - 0.0%(b) | ||||||||||||||
Akamai Technologies, Inc.(a) | 43 | 5,299 | ||||||||||||
VeriSign, Inc.(a) | 3 | 597 | ||||||||||||
5,896 | ||||||||||||||
Investment Banking & Brokerage - 2.4% | ||||||||||||||
Charles Schwab Corp. | 1,309 | 82,362 | ||||||||||||
Evercore, Inc. - Class A | 47 | 8,071 | ||||||||||||
Goldman Sachs Group, Inc. | 617 | 236,934 | ||||||||||||
Interactive Brokers Group, Inc. - Class A | 26 | 2,308 | ||||||||||||
Jefferies Financial Group, Inc. | 264 | 10,761 | ||||||||||||
Lazard, Inc. | 203 | 7,913 | ||||||||||||
LPL Financial Holdings, Inc. | 4 | 957 | ||||||||||||
Morgan Stanley | 2,385 | 208,067 | ||||||||||||
Raymond James Financial, Inc. | 221 | 24,350 | ||||||||||||
Robinhood Markets, Inc. - Class A(a) | 935 | 10,042 | ||||||||||||
Stifel Financial Corp. | 174 | 12,693 | ||||||||||||
604,458 | ||||||||||||||
IT Consulting & Other Services - 1.5% | ||||||||||||||
Amdocs Ltd. | 78 | 7,151 | ||||||||||||
Cognizant Technology Solutions Corp. - Class A | 682 | 52,596 | ||||||||||||
DXC Technology Co.(a) | 389 | 8,480 | ||||||||||||
International Business Machines Corp. | 1,728 | 317,365 | ||||||||||||
385,592 | ||||||||||||||
Leisure Facilities - 0.0%(b) | ||||||||||||||
Vail Resorts, Inc. | 22 | 4,884 |
The accompanying notes are an integral part of these financial statements.
94
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Leisure Products - 0.1% | ||||||||||||||
Brunswick Corp. | 126 | $ | 10,166 | |||||||||||
Hasbro, Inc. | 238 | 11,650 | ||||||||||||
Polaris, Inc. | 72 | 6,477 | ||||||||||||
28,293 | ||||||||||||||
Life & Health Insurance - 1.3% | ||||||||||||||
Aflac, Inc. | 1,110 | 93,618 | ||||||||||||
Globe Life, Inc. | 141 | 17,318 | ||||||||||||
Lincoln National Corp. | 305 | 8,372 | ||||||||||||
MetLife, Inc. | 1,089 | 75,489 | ||||||||||||
Primerica, Inc. | 27 | 6,322 | ||||||||||||
Principal Financial Group, Inc. | 445 | 35,200 | ||||||||||||
Prudential Financial, Inc. | 683 | 71,667 | ||||||||||||
Unum Group | 316 | 15,275 | ||||||||||||
323,261 | ||||||||||||||
Life Sciences Tools & Services - 0.1% | ||||||||||||||
Bio-Rad Laboratories, Inc. - Class A(a) | 20 | 6,418 | ||||||||||||
Illumina, Inc.(a) | 122 | 17,447 | ||||||||||||
Revvity, Inc. | 64 | 6,860 | ||||||||||||
30,725 | ||||||||||||||
Managed Health Care - 2.2% | ||||||||||||||
Centene Corp.(a) | 1,015 | 76,440 | ||||||||||||
Elevance Health, Inc. | 321 | 158,394 | ||||||||||||
HealthEquity, Inc.(a) | 14 | 1,058 | ||||||||||||
Humana, Inc. | 177 | 66,917 | ||||||||||||
Molina Healthcare, Inc.(a) | 26 | 9,267 | ||||||||||||
UnitedHealth Group, Inc. | 483 | 247,170 | ||||||||||||
559,246 | ||||||||||||||
Metal, Glass & Plastic Containers - 0.2% | ||||||||||||||
AptarGroup, Inc. | 47 | 6,104 | ||||||||||||
Ball Corp. | 167 | 9,260 | ||||||||||||
Berry Global Group, Inc. | 215 | 14,074 | ||||||||||||
Crown Holdings, Inc. | 158 | 13,983 | ||||||||||||
43,421 | ||||||||||||||
Motorcycle Manufacturers - 0.0%(b) | ||||||||||||||
Harley-Davidson, Inc. | 239 | 7,756 |
The accompanying notes are an integral part of these financial statements.
95
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Movies & Entertainment - 1.1% | ||||||||||||||
AMC Entertainment Holdings, Inc.(a)(c) | 295 | $ | 1,195 | |||||||||||
Endeavor Group Holdings, Inc. - Class A | 80 | 1,980 | ||||||||||||
Live Nation Entertainment, Inc.(a) | 29 | 2,577 | ||||||||||||
Madison Square Garden Sports Corp.(a) | 17 | 3,147 | ||||||||||||
Spotify Technology S.A.(a) | 166 | 35,748 | ||||||||||||
Walt Disney Co. | 2,236 | 214,767 | ||||||||||||
Warner Bros Discovery, Inc.(a) | 4,156 | 41,643 | ||||||||||||
Warner Music Group Corp. - Class A | 23 | 839 | ||||||||||||
301,896 | ||||||||||||||
Multi-line Insurance - 0.4% | ||||||||||||||
American International Group, Inc. | 1,357 | 94,325 | ||||||||||||
Assurant, Inc. | 102 | 17,131 | ||||||||||||
111,456 | ||||||||||||||
Multi-Sector Holdings - 1.3% | ||||||||||||||
Berkshire Hathaway, Inc. - Class B(a) | 868 | 333,086 | ||||||||||||
Multi-Utilities - 1.7% | ||||||||||||||
Ameren Corp. | 447 | 31,098 | ||||||||||||
Black Hills Corp. | 119 | 6,159 | ||||||||||||
CenterPoint Energy, Inc. | 1,176 | 32,857 | ||||||||||||
CMS Energy Corp. | 437 | 24,979 | ||||||||||||
Consolidated Edison, Inc. | 641 | 58,267 | ||||||||||||
Dominion Energy, Inc. | 1,566 | 71,598 | ||||||||||||
DTE Energy Co. | 334 | 35,210 | ||||||||||||
NiSource, Inc. | 780 | 20,257 | ||||||||||||
Public Service Enterprise Group, Inc. | 920 | 53,351 | ||||||||||||
Sempra | 888 | 63,545 | ||||||||||||
WEC Energy Group, Inc. | 457 | 36,907 | ||||||||||||
434,228 | ||||||||||||||
Office Services & Supplies - 0.0%(b) | ||||||||||||||
MSA Safety, Inc. | 11 | 1,815 | ||||||||||||
Oil & Gas Drilling - 0.0%(b) | ||||||||||||||
Transocean Ltd.(a) | 873 | 4,767 | ||||||||||||
Oil & Gas Equipment & Services - 0.7% | ||||||||||||||
Baker Hughes Co. | 1,889 | 53,837 | ||||||||||||
ChampionX Corp. | 132 | 3,618 | ||||||||||||
Halliburton Co. | 1,416 | 50,480 |
The accompanying notes are an integral part of these financial statements.
96
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Equipment & Services - 0.7% (Continued) | ||||||||||||||
NOV, Inc. | 493 | $ | 9,618 | |||||||||||
Schlumberger N.V. | 999 | 48,651 | ||||||||||||
166,204 | ||||||||||||||
Oil & Gas Exploration & Production - 3.1% | ||||||||||||||
Antero Resources Corp.(a) | 525 | 11,729 | ||||||||||||
APA Corp. | 578 | 18,109 | ||||||||||||
Chesapeake Energy Corp. | 234 | 18,044 | ||||||||||||
Chord Energy Corp. | 64 | 9,841 | ||||||||||||
ConocoPhillips | 2,272 | 254,168 | ||||||||||||
Coterra Energy, Inc. | 1,378 | 34,285 | ||||||||||||
Devon Energy Corp. | 1,193 | 50,130 | ||||||||||||
Diamondback Energy, Inc. | 332 | 51,042 | ||||||||||||
EOG Resources, Inc. | 1,093 | 124,371 | ||||||||||||
EQT Corp. | 774 | 27,400 | ||||||||||||
Hess Corp. | 2 | 281 | ||||||||||||
Marathon Oil Corp. | 1,157 | 26,437 | ||||||||||||
Matador Resources Co. | 203 | 11,143 | ||||||||||||
Murphy Oil Corp. | 268 | 10,372 | ||||||||||||
Ovintiv, Inc. | 507 | 21,507 | ||||||||||||
Permian Resources Corp. | 697 | 9,396 | ||||||||||||
Pioneer Natural Resources Co. | 418 | 96,068 | ||||||||||||
Range Resources Corp. | 432 | 12,545 | ||||||||||||
Southwestern Energy Co.(a) | 2,061 | 13,293 | ||||||||||||
800,161 | ||||||||||||||
Oil & Gas Refining & Marketing - 1.4% | ||||||||||||||
HF Sinclair Corp. | 301 | 17,003 | ||||||||||||
Marathon Petroleum Corp. | 746 | 123,538 | ||||||||||||
PBF Energy, Inc. - Class A | 209 | 10,557 | ||||||||||||
Phillips 66 | 834 | 120,355 | ||||||||||||
Valero Energy Corp. | 657 | 91,257 | ||||||||||||
362,710 | ||||||||||||||
Oil & Gas Storage & Transportation - 0.9% | ||||||||||||||
Cheniere Energy, Inc. | 73 | 11,971 | ||||||||||||
DT Midstream, Inc. | 171 | 9,181 | ||||||||||||
Kinder Morgan, Inc. | 3,716 | 62,875 | ||||||||||||
ONEOK, Inc. | 1,096 | 74,802 | ||||||||||||
Targa Resources Corp. | 11 | 935 | ||||||||||||
Williams Cos., Inc. | 2,270 | 78,678 | ||||||||||||
238,442 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
97
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Other Specialty Retail - 0.1% | ||||||||||||||
Bath & Body Works, Inc. | 414 | $ | 17,661 | |||||||||||
Dick's Sporting Goods, Inc. | 68 | 10,137 | ||||||||||||
27,798 | ||||||||||||||
Packaged Foods & Meats - 1.3% | ||||||||||||||
Campbell Soup Co. | 350 | 15,621 | ||||||||||||
Conagra Brands, Inc. | 883 | 25,739 | ||||||||||||
Flowers Foods, Inc. | 220 | 5,016 | ||||||||||||
General Mills, Inc. | 710 | 46,086 | ||||||||||||
Hormel Foods Corp. | 349 | 10,599 | ||||||||||||
J.M. Smucker Co. | 172 | 22,627 | ||||||||||||
Kellanova | 492 | 26,942 | ||||||||||||
Kraft Heinz Co. | 1,475 | 54,767 | ||||||||||||
Lancaster Colony Corp. | 4 | 735 | ||||||||||||
McCormick & Co., Inc. | 116 | 7,907 | ||||||||||||
Mondelez International, Inc. - Class A | 813 | 61,195 | ||||||||||||
Pilgrim's Pride Corp.(a) | 72 | 1,956 | ||||||||||||
Post Holdings, Inc.(a) | 82 | 7,615 | ||||||||||||
Seaboard Corp. | 1 | 3,603 | ||||||||||||
Tyson Foods, Inc. - Class A | 523 | 28,639 | ||||||||||||
WK Kellogg Co. | 106 | 1,377 | ||||||||||||
320,424 | ||||||||||||||
Paper & Plastic Packaging Products & Materials - 0.5% | ||||||||||||||
Amcor PLC | 2,723 | 25,678 | ||||||||||||
Avery Dennison Corp. | 53 | 10,571 | ||||||||||||
Graphic Packaging Holding Co. | 537 | 13,699 | ||||||||||||
International Paper Co. | 640 | 22,931 | ||||||||||||
Packaging Corp. of America | 157 | 26,043 | ||||||||||||
Sealed Air Corp. | 250 | 8,638 | ||||||||||||
Sonoco Products Co. | 173 | 9,844 | ||||||||||||
Westrock Co. | 463 | 18,640 | ||||||||||||
136,044 | ||||||||||||||
Passenger Airlines - 0.1% | ||||||||||||||
Alaska Air Group, Inc.(a) | 54 | 1,935 | ||||||||||||
American Airlines Group, Inc.(a) | 306 | 4,354 | ||||||||||||
Delta Air Lines, Inc. | 301 | 11,781 | ||||||||||||
Southwest Airlines Co. | 274 | 8,190 | ||||||||||||
United Airlines Holdings, Inc.(a) | 148 | 6,124 | ||||||||||||
32,384 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
98
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Passenger Ground Transportation - 0.0%(b) | ||||||||||||||
Avis Budget Group, Inc. | 31 | $ | 5,075 | |||||||||||
Hertz Global Holdings, Inc.(a) | 235 | 1,962 | ||||||||||||
Lyft, Inc. - Class A(a) | 290 | 3,622 | ||||||||||||
10,659 | ||||||||||||||
Personal Care Products - 0.1% | ||||||||||||||
Coty, Inc. - Class A(a) | 268 | 3,237 | ||||||||||||
Kenvue, Inc. | 781 | 16,214 | ||||||||||||
19,451 | ||||||||||||||
Pharmaceuticals - 4.2% | ||||||||||||||
Bristol-Myers Squibb Co. | 3,542 | 173,098 | ||||||||||||
Catalent, Inc.(a) | 8 | 413 | ||||||||||||
Elanco Animal Health, Inc.(a) | 922 | 13,590 | ||||||||||||
Jazz Pharmaceuticals PLC(a) | 101 | 12,395 | ||||||||||||
Johnson & Johnson | 2,294 | 364,516 | ||||||||||||
Merck & Co., Inc. | 1,378 | 166,435 | ||||||||||||
Organon & Co. | 544 | 9,058 | ||||||||||||
Perrigo Co. PLC | 268 | 8,597 | ||||||||||||
Pfizer, Inc. | 10,608 | 287,265 | ||||||||||||
Royalty Pharma PLC - Class A | 302 | 8,574 | ||||||||||||
Viatris, Inc. | 2,246 | 26,435 | ||||||||||||
1,070,376 | ||||||||||||||
Property & Casualty Insurance - 2.5% | ||||||||||||||
Allstate Corp. | 484 | 75,141 | ||||||||||||
American Financial Group, Inc. | 127 | 15,291 | ||||||||||||
Arch Capital Group Ltd.(a) | 289 | 23,822 | ||||||||||||
Axis Capital Holdings Ltd. | 140 | 8,333 | ||||||||||||
Chubb Ltd. | 769 | 188,404 | ||||||||||||
Cincinnati Financial Corp. | 263 | 29,140 | ||||||||||||
Erie Indemnity Co. - Class A | 11 | 3,804 | ||||||||||||
Fidelity National Financial, Inc. | 484 | 24,215 | ||||||||||||
First American Financial Corp. | 204 | 12,311 | ||||||||||||
Hanover Insurance Group, Inc. | 54 | 7,129 | ||||||||||||
Hartford Financial Services Group, Inc. | 581 | 50,524 | ||||||||||||
Loews Corp. | 346 | 25,210 | ||||||||||||
Markel Group, Inc.(a) | 7 | 10,482 | ||||||||||||
Old Republic International Corp. | 502 | 14,076 | ||||||||||||
Progressive Corp. | 18 | 3,209 | ||||||||||||
RLI Corp. | 18 | 2,455 |
The accompanying notes are an integral part of these financial statements.
99
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Property & Casualty Insurance - 2.5% (Continued) | ||||||||||||||
Selective Insurance Group, Inc. | 69 | $ | 7,235 | |||||||||||
Travelers Cos., Inc. | 423 | 89,404 | ||||||||||||
W R Berkley Corp. | 273 | 22,353 | ||||||||||||
612,538 | ||||||||||||||
Publishing - 0.1% | ||||||||||||||
New York Times Co. - Class A | 7 | 340 | ||||||||||||
News Corp. - Class A | 690 | 17,002 | ||||||||||||
News Corp. - Class B | 206 | 5,267 | ||||||||||||
22,609 | ||||||||||||||
Rail Transportation - 0.9% | ||||||||||||||
CSX Corp. | 1,252 | 44,696 | ||||||||||||
Norfolk Southern Corp. | 248 | 58,340 | ||||||||||||
Union Pacific Corp. | 483 | 117,818 | ||||||||||||
220,854 | ||||||||||||||
Real Estate Development - 0.0%(b) | ||||||||||||||
Howard Hughes Holdings, Inc.(a) | 23 | 1,842 | ||||||||||||
Real Estate Services - 0.1% | ||||||||||||||
CBRE Group, Inc. - Class A(a) | 221 | 19,074 | ||||||||||||
Jones Lang LaSalle, Inc.(a) | 77 | 13,633 | ||||||||||||
Zillow Group, Inc. - Class A(a) | 7 | 386 | ||||||||||||
Zillow Group, Inc. - Class C(a) | 28 | 1,592 | ||||||||||||
34,685 | ||||||||||||||
Regional Banks - 1.6% | ||||||||||||||
Bank OZK | 204 | 9,202 | ||||||||||||
BOK Financial Corp. | 40 | 3,354 | ||||||||||||
Citizens Financial Group, Inc. | 842 | 27,533 | ||||||||||||
Commerce Bancshares, Inc. | 194 | 10,111 | ||||||||||||
Cullen/Frost Bankers, Inc. | 109 | 11,567 | ||||||||||||
East West Bancorp, Inc. | 254 | 18,494 | ||||||||||||
First Financial Bankshares, Inc. | 126 | 3,935 | ||||||||||||
First Horizon Corp. | 1,081 | 15,393 | ||||||||||||
Huntington Bancshares, Inc. | 2,668 | 33,964 | ||||||||||||
M&T Bank Corp. | 305 | 42,120 | ||||||||||||
New York Community Bancorp, Inc. | 1,559 | 10,087 | ||||||||||||
Pinnacle Financial Partners, Inc. | 137 | 12,108 | ||||||||||||
Popular, Inc. | 127 | 10,852 | ||||||||||||
Prosperity Bancshares, Inc. | 160 | 10,226 | ||||||||||||
Regions Financial Corp. | 1,767 | 32,990 |
The accompanying notes are an integral part of these financial statements.
100
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Regional Banks - 1.6% (Continued) | ||||||||||||||
SouthState Corp. | 136 | $ | 11,302 | |||||||||||
Synovus Financial Corp. | 253 | 9,528 | ||||||||||||
TFS Financial Corp. | 98 | 1,305 | ||||||||||||
Truist Financial Corp. | 2,500 | 92,649 | ||||||||||||
United Bankshares, Inc. | 243 | 8,712 | ||||||||||||
Webster Financial Corp. | 318 | 15,735 | ||||||||||||
Western Alliance Bancorp | 195 | 12,472 | ||||||||||||
Wintrust Financial Corp. | 110 | 10,668 | ||||||||||||
Zions Bancorp NA | 264 | 11,062 | ||||||||||||
425,369 | ||||||||||||||
Reinsurance - 0.2% | ||||||||||||||
Everest Group Ltd. | 71 | 27,333 | ||||||||||||
Reinsurance Group of America, Inc. | 119 | 20,693 | ||||||||||||
RenaissanceRe Holdings Ltd. | 43 | 9,840 | ||||||||||||
57,866 | ||||||||||||||
Renewable Electricity - 0.0%(b) | ||||||||||||||
Clearway Energy, Inc. - Class A | 54 | 1,213 | ||||||||||||
Clearway Energy, Inc. - Class C | 148 | 3,587 | ||||||||||||
NextEra Energy Partners LP | 131 | 3,910 | ||||||||||||
8,710 | ||||||||||||||
Research & Consulting Services - 0.2% | ||||||||||||||
Booz Allen Hamilton Holding Corp. | 22 | 3,097 | ||||||||||||
CACI International, Inc. - Class A(a) | 11 | 3,781 | ||||||||||||
Clarivate PLC(a) | 54 | 483 | ||||||||||||
Dun & Bradstreet Holdings, Inc. | 155 | 1,796 | ||||||||||||
Jacobs Solutions, Inc. | 121 | 16,307 | ||||||||||||
KBR, Inc. | 12 | 625 | ||||||||||||
Leidos Holdings, Inc. | 174 | 19,222 | ||||||||||||
Science Applications International Corp. | 57 | 7,277 | ||||||||||||
52,588 | ||||||||||||||
Restaurants - 0.6% | ||||||||||||||
Aramark | 344 | 10,004 | ||||||||||||
Darden Restaurants, Inc. | 81 | 13,169 | ||||||||||||
Domino's Pizza, Inc. | 6 | 2,557 | ||||||||||||
DoorDash, Inc. - Class A(a) | 291 | 30,322 | ||||||||||||
McDonald's Corp. | 297 | 86,938 |
The accompanying notes are an integral part of these financial statements.
101
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Restaurants - 0.6% (Continued) | ||||||||||||||
Starbucks Corp. | 122 | $ | 11,350 | |||||||||||
Wendy's Co. | 143 | 2,728 | ||||||||||||
Yum! Brands, Inc. | 21 | 2,719 | ||||||||||||
159,787 | ||||||||||||||
Semiconductor Materials & Equipment - 0.0%(b) | ||||||||||||||
Amkor Technology, Inc. | 120 | 3,799 | ||||||||||||
MKS Instruments, Inc. | 27 | 2,874 | ||||||||||||
6,673 | ||||||||||||||
Semiconductors - 2.6% | ||||||||||||||
Analog Devices, Inc. | 81 | 15,581 | ||||||||||||
Cirrus Logic, Inc.(a) | 9 | 695 | ||||||||||||
Intel Corp. | 7,940 | 342,056 | ||||||||||||
Micron Technology, Inc. | 2,072 | 177,674 | ||||||||||||
Qorvo, Inc.(a) | 53 | 5,286 | ||||||||||||
QUALCOMM, Inc. | 561 | 83,314 | ||||||||||||
Skyworks Solutions, Inc. | 159 | 16,609 | ||||||||||||
Synaptics, Inc.(a) | 30 | 3,204 | ||||||||||||
Texas Instruments, Inc. | 215 | 34,426 | ||||||||||||
678,845 | ||||||||||||||
Soft Drinks & Non-alcoholic Beverages - 1.2% | ||||||||||||||
Coca-Cola Co. | 2,620 | 155,864 | ||||||||||||
Keurig Dr. Pepper, Inc. | 1,744 | 54,831 | ||||||||||||
PepsiCo, Inc. | 520 | 87,636 | ||||||||||||
298,331 | ||||||||||||||
Specialized Consumer Services - 0.1% | ||||||||||||||
ADT, Inc. | 618 | 4,036 | ||||||||||||
H&R Block, Inc. | 262 | 12,272 | ||||||||||||
Service Corp. International | 59 | 3,960 | ||||||||||||
20,268 | ||||||||||||||
Specialty Chemicals - 0.7% | ||||||||||||||
Ashland, Inc. | 54 | 5,055 | ||||||||||||
Axalta Coating Systems Ltd.(a) | 148 | 4,798 | ||||||||||||
Celanese Corp. | 195 | 28,527 | ||||||||||||
DuPont de Nemours, Inc. | 550 | 33,990 | ||||||||||||
Eastman Chemical Co. | 218 | 18,214 | ||||||||||||
Ecolab, Inc. | 73 | 14,470 |
The accompanying notes are an integral part of these financial statements.
102
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Specialty Chemicals - 0.7% (Continued) | ||||||||||||||
International Flavors & Fragrances, Inc. | 490 | $ | 39,533 | |||||||||||
PPG Industries, Inc. | 151 | 21,297 | ||||||||||||
RPM International, Inc. | 54 | 5,760 | ||||||||||||
171,644 | ||||||||||||||
Steel - 0.8% | ||||||||||||||
Cleveland-Cliffs, Inc.(a) | 929 | 18,626 | ||||||||||||
Commercial Metals Co. | 216 | 11,280 | ||||||||||||
Nucor Corp. | 459 | 85,801 | ||||||||||||
Reliance Steel & Aluminum Co. | 97 | 27,686 | ||||||||||||
Steel Dynamics, Inc. | 296 | 35,724 | ||||||||||||
United States Steel Corp. | 366 | 17,209 | ||||||||||||
196,326 | ||||||||||||||
Systems Software - 0.0%(b) | ||||||||||||||
CyberArk Software Ltd.(a) | 12 | 2,802 | ||||||||||||
Dolby Laboratories, Inc. - Class A | 18 | 1,497 | ||||||||||||
Gen Digital, Inc. | 356 | 8,359 | ||||||||||||
12,658 | ||||||||||||||
Technology Distributors - 0.1% | ||||||||||||||
Arrow Electronics, Inc.(a) | 103 | 11,449 | ||||||||||||
CDW Corp. | 20 | 4,534 | ||||||||||||
TD SYNNEX Corp. | 78 | 7,798 | ||||||||||||
23,781 | ||||||||||||||
Technology Hardware, Storage & Peripherals - 0.8% | ||||||||||||||
Dell Technologies, Inc. - Class C | 447 | 37,047 | ||||||||||||
Hewlett Packard Enterprise Co. | 2,422 | 37,032 | ||||||||||||
HP, Inc. | 1,681 | 48,263 | ||||||||||||
NetApp, Inc. | 220 | 19,184 | ||||||||||||
Seagate Technology Holdings PLC | 350 | 29,988 | ||||||||||||
Western Digital Corp.(a) | 545 | 31,201 | ||||||||||||
202,715 | ||||||||||||||
Tobacco - 1.6% | ||||||||||||||
Altria Group, Inc. | 3,391 | 136,047 | ||||||||||||
Philip Morris International, Inc. | 2,918 | 265,100 | ||||||||||||
401,147 | ||||||||||||||
Trading Companies & Distributors - 0.4% | ||||||||||||||
AerCap Holdings NV(a) | 361 | 27,638 | ||||||||||||
Air Lease Corp. | 202 | 8,446 |
The accompanying notes are an integral part of these financial statements.
103
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 94.7% (Continued) | Shares | Value | ||||||||||||
Trading Companies & Distributors - 0.4% (Continued) | ||||||||||||||
Core & Main, Inc. - Class A(a) | 51 | $ | 2,107 | |||||||||||
Ferguson PLC | 115 | 21,604 | ||||||||||||
MSC Industrial Direct Co., Inc. - Class A | 60 | 5,921 | ||||||||||||
United Rentals, Inc. | 38 | 23,764 | ||||||||||||
WESCO International, Inc. | 57 | 9,891 | ||||||||||||
99,371 | ||||||||||||||
Transaction & Payment Processing Services - 0.5% | ||||||||||||||
Euronet Worldwide, Inc.(a) | 36 | 3,587 | ||||||||||||
Fidelity National Information Services, Inc. | 1,101 | 68,549 | ||||||||||||
Global Payments, Inc. | 325 | 43,300 | ||||||||||||
Western Union Co. | 697 | 8,761 | ||||||||||||
WEX, Inc.(a) | 6 | 1,226 | ||||||||||||
125,423 | ||||||||||||||
Water Utilities - 0.1% | ||||||||||||||
American Water Works Co., Inc. | 122 | 15,130 | ||||||||||||
Essential Utilities, Inc. | 194 | 6,957 | ||||||||||||
22,087 | ||||||||||||||
Wireless Telecommunication Services - 0.3% | ||||||||||||||
T-Mobile US, Inc. | 518 | 83,518 | ||||||||||||
TOTAL COMMON STOCKS (Cost $22,818,240) | 24,294,609 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 3.9% | ||||||||||||||
AGNC Investment Corp. | 965 | 9,148 | ||||||||||||
Agree Realty Corp. | 156 | 9,299 | ||||||||||||
Alexandria Real Estate Equities, Inc. | 317 | 38,325 | ||||||||||||
Americold Realty Trust, Inc. | 394 | 10,835 | ||||||||||||
Annaly Capital Management, Inc. | 920 | 17,655 | ||||||||||||
Apartment Income REIT Corp. | 269 | 8,794 | ||||||||||||
AvalonBay Communities, Inc. | 115 | 20,586 | ||||||||||||
Blackstone Mortgage Trust, Inc. - Class A(c) | 306 | 6,040 | ||||||||||||
Boston Properties, Inc. | 261 | 17,357 | ||||||||||||
Brixmor Property Group, Inc. | 539 | 12,095 | ||||||||||||
Camden Property Trust | 48 | 4,504 | ||||||||||||
Cousins Properties, Inc. | 273 | 6,254 | ||||||||||||
Crown Castle, Inc. | 299 | 32,367 | ||||||||||||
CubeSmart | 157 | 6,786 | ||||||||||||
Digital Realty Trust, Inc. | 239 | 33,570 | ||||||||||||
EastGroup Properties, Inc. | 5 | 887 | ||||||||||||
Equity LifeStyle Properties, Inc. | 17 | 1,151 | ||||||||||||
Equity Residential | 499 | 30,035 |
The accompanying notes are an integral part of these financial statements.
104
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
REAL ESTATE INVESTMENT TRUSTS - 3.9% (Continued) | Shares | Value | ||||||||||||
Essex Property Trust, Inc. | 73 | $ | 17,029 | |||||||||||
Extra Space Storage, Inc. | 114 | 16,466 | ||||||||||||
Federal Realty Investment Trust | 115 | 11,699 | ||||||||||||
First Industrial Realty Trust, Inc. | 24 | 1,236 | ||||||||||||
Gaming and Leisure Properties, Inc. | 461 | 21,045 | ||||||||||||
Healthcare Realty Trust, Inc. | 711 | 11,454 | ||||||||||||
Healthpeak Properties, Inc. | 1,019 | 18,852 | ||||||||||||
Host Hotels & Resorts, Inc. | 1,313 | 25,236 | ||||||||||||
Iron Mountain, Inc. | 160 | 10,803 | ||||||||||||
Kilroy Realty Corp. | 220 | 7,867 | ||||||||||||
Kimco Realty Corp. | 1,320 | 26,664 | ||||||||||||
Lamar Advertising Co. - Class A | 113 | 11,829 | ||||||||||||
Medical Properties Trust, Inc.(c) | 1,104 | 3,422 | ||||||||||||
Mid-America Apartment Communities, Inc. | 57 | 7,204 | ||||||||||||
National Storage Affiliates Trust | 72 | 2,689 | ||||||||||||
NET Lease Office Properties | 23 | 576 | ||||||||||||
NNN REIT, Inc. | 323 | 13,030 | ||||||||||||
Omega Healthcare Investors, Inc. | 435 | 12,615 | ||||||||||||
Prologis, Inc. | 107 | 13,557 | ||||||||||||
Public Storage | 210 | 59,470 | ||||||||||||
Rayonier, Inc. | 133 | 4,030 | ||||||||||||
Realty Income Corp. | 1,549 | 84,249 | ||||||||||||
Regency Centers Corp. | 256 | 16,044 | ||||||||||||
Rithm Capital Corp. | 933 | 9,983 | ||||||||||||
Simon Property Group, Inc. | 585 | 81,087 | ||||||||||||
STAG Industrial, Inc. | 195 | 7,203 | ||||||||||||
Starwood Property Trust, Inc. | 548 | 11,141 | ||||||||||||
Sun Communities, Inc. | 20 | 2,507 | ||||||||||||
UDR, Inc. | 268 | 9,653 | ||||||||||||
Ventas, Inc. | 741 | 34,375 | ||||||||||||
VICI Properties, Inc. | 1,940 | 58,432 | ||||||||||||
Vornado Realty Trust | 341 | 9,272 | ||||||||||||
Welltower, Inc. | 812 | 70,246 | ||||||||||||
Weyerhaeuser Co. | 735 | 24,086 | ||||||||||||
WP Carey, Inc. | 394 | 24,412 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $986,868) | 1,005,151 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
105
STRIVE 1000 VALUE ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 1.3% | Shares | Value | ||||||||||||
Investments Purchased with Proceeds from Securities Lending - 0.1% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 16,633 | $ | 16,633 | |||||||||||
Money Market Funds - 1.2% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 302,139 | 302,139 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $318,772) | 318,772 | |||||||||||||
TOTAL INVESTMENTS - 99.9% (Cost $24,123,880) | $ | 25,618,532 | ||||||||||||
Other Assets in Excess of Liabilities - 0.1% | 13,906 | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 25,632,438 |
Percentages are stated as a percent of net assets. |
PLC - Public Limited Company |
(a) | Non-income producing security. | |||||||
(b) | Represents less than 0.05% of net assets. | |||||||
(c) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $15,592 which represented 0.1% of net assets. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
106
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% | Shares | Value | ||||||||||||
Advertising - 0.1% | ||||||||||||||
Integral Ad Science Holding Corp.(a) | 1,588 | $ | 23,105 | |||||||||||
Aerospace & Defense - 0.7% | ||||||||||||||
AeroVironment, Inc.(a) | 580 | 69,971 | ||||||||||||
Leonardo DRS, Inc.(a) | 1,031 | 20,012 | ||||||||||||
Moog, Inc. - Class A | 583 | 81,503 | ||||||||||||
Rocket Lab USA, Inc.(a) | 5,322 | 25,812 | ||||||||||||
Spirit AeroSystems Holdings, Inc. - Class A(a) | 2,170 | 59,588 | ||||||||||||
256,886 | ||||||||||||||
Agricultural & Farm Machinery - 0.1% | ||||||||||||||
Alamo Group, Inc. | 204 | 43,305 | ||||||||||||
Air Freight & Logistics - 0.2% | ||||||||||||||
Forward Air Corp. | 528 | 23,406 | ||||||||||||
Hub Group, Inc. - Class A(a) | 1,320 | 59,770 | ||||||||||||
83,176 | ||||||||||||||
Alternative Carriers - 0.2% | ||||||||||||||
Cogent Communications Holdings, Inc. | 877 | 67,704 | ||||||||||||
EchoStar Corp. - Class A(a) | 1,769 | 23,687 | ||||||||||||
91,391 | ||||||||||||||
Aluminum - 0.1% | ||||||||||||||
Constellium SE(a) | 2,657 | 49,819 | ||||||||||||
Apparel Retail - 0.8% | ||||||||||||||
American Eagle Outfitters, Inc. | 3,725 | 73,829 | ||||||||||||
Boot Barn Holdings, Inc.(a) | 605 | 43,403 | ||||||||||||
Foot Locker, Inc. | 1,889 | 53,194 | ||||||||||||
Gap, Inc. | 3,930 | 73,452 | ||||||||||||
Urban Outfitters, Inc.(a) | 1,452 | 55,176 | ||||||||||||
299,054 | ||||||||||||||
Apparel, Accessories & Luxury Goods - 1.4% | ||||||||||||||
Capri Holdings Ltd.(a) | 2,351 | 114,588 | ||||||||||||
Carter's, Inc. | 744 | 56,276 | ||||||||||||
Columbia Sportswear Co. | 716 | 56,750 | ||||||||||||
Kontoor Brands, Inc. | 1,131 | 66,299 | ||||||||||||
PVH Corp. | 1,231 | 148,040 | ||||||||||||
Under Armour, Inc. - Class A(a) | 3,872 | 29,505 | ||||||||||||
Under Armour, Inc. - Class C(a) | 4,304 | 31,850 | ||||||||||||
503,308 |
The accompanying notes are an integral part of these financial statements.
107
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Application Software - 3.9% | ||||||||||||||
ACI Worldwide, Inc.(a) | 2,194 | $ | 65,974 | |||||||||||
Alarm.com Holdings, Inc.(a) | 965 | 58,691 | ||||||||||||
Alteryx, Inc. - Class A(a) | 1,232 | 58,471 | ||||||||||||
Asana, Inc. - Class A(a) | 1,402 | 24,423 | ||||||||||||
Aurora Innovation, Inc.(a) | 13,653 | 40,822 | ||||||||||||
Blackbaud, Inc.(a) | 1,133 | 91,683 | ||||||||||||
BlackLine, Inc.(a) | 1,125 | 66,015 | ||||||||||||
Box, Inc. - Class A(a) | 2,859 | 74,277 | ||||||||||||
Braze, Inc. - Class A(a) | 1,146 | 61,941 | ||||||||||||
C3.ai, Inc. - Class A(a)(b) | 2,147 | 53,203 | ||||||||||||
Clear Secure, Inc. - Class A | 1,772 | 33,721 | ||||||||||||
Clearwater Analytics Holdings, Inc. - Class A(a) | 1,743 | 32,856 | ||||||||||||
Envestnet, Inc.(a) | 1,011 | 51,662 | ||||||||||||
Freshworks, Inc. - Class A(a) | 3,647 | 80,963 | ||||||||||||
HashiCorp, Inc. - Class A(a) | 2,105 | 46,015 | ||||||||||||
Informatica, Inc. - Class A(a) | 792 | 23,760 | ||||||||||||
Instructure Holdings, Inc.(a) | 350 | 8,621 | ||||||||||||
Intapp, Inc.(a) | 660 | 28,433 | ||||||||||||
InterDigital, Inc. | 533 | 55,992 | ||||||||||||
Jamf Holding Corp.(a) | 1,381 | 25,604 | ||||||||||||
Marathon Digital Holdings, Inc.(a)(b) | 4,404 | 78,083 | ||||||||||||
nCino, Inc.(a) | 1,401 | 44,103 | ||||||||||||
NCR Voyix Corp.(a) | 2,729 | 40,116 | ||||||||||||
Pegasystems, Inc. | 874 | 42,599 | ||||||||||||
RingCentral, Inc. - Class A(a) | 1,720 | 58,291 | ||||||||||||
Riot Platforms, Inc.(a) | 3,966 | 43,229 | ||||||||||||
Sprinklr, Inc. - Class A(a) | 2,187 | 27,294 | ||||||||||||
Sprout Social, Inc. - Class A(a) | 952 | 58,386 | ||||||||||||
Verint Systems, Inc.(a) | 1,280 | 38,003 | ||||||||||||
Vertex, Inc. - Class A(a) | 886 | 21,494 | ||||||||||||
1,434,725 | ||||||||||||||
Asset Management & Custody Banks - 1.0% | ||||||||||||||
Artisan Partners Asset Management, Inc. - Class A | 1,373 | 57,529 | ||||||||||||
AssetMark Financial Holdings, Inc.(a) | 434 | 13,311 | ||||||||||||
Cohen & Steers, Inc. | 529 | 37,252 | ||||||||||||
Federated Hermes, Inc. - Class B | 1,779 | 62,194 | ||||||||||||
Hamilton Lane, Inc. - Class A | 690 | 79,998 | ||||||||||||
Janus Henderson Group PLC | 2,720 | 78,227 | ||||||||||||
StepStone Group, Inc. - Class A | 1,110 | 37,130 | ||||||||||||
Victory Capital Holdings, Inc. - Class A | 725 | 24,454 | ||||||||||||
390,095 |
The accompanying notes are an integral part of these financial statements.
108
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Automotive Parts & Equipment - 1.1% | ||||||||||||||
Adient PLC(a) | 1,915 | $ | 66,470 | |||||||||||
Dana, Inc. | 2,653 | 35,975 | ||||||||||||
Dorman Products, Inc.(a) | 538 | 43,799 | ||||||||||||
Fox Factory Holding Corp.(a) | 872 | 54,971 | ||||||||||||
LCI Industries | 497 | 55,306 | ||||||||||||
Luminar Technologies, Inc.(a)(b) | 4,914 | 13,366 | ||||||||||||
QuantumScape Corp.(a)(b) | 6,624 | 45,109 | ||||||||||||
Visteon Corp.(a) | 576 | 66,407 | ||||||||||||
381,403 | ||||||||||||||
Automotive Retail - 0.7% | ||||||||||||||
Advance Auto Parts, Inc. | 1,238 | 82,760 | ||||||||||||
Asbury Automotive Group, Inc.(a) | 424 | 88,641 | ||||||||||||
Camping World Holdings, Inc. - Class A | 827 | 20,551 | ||||||||||||
Group 1 Automotive, Inc. | 278 | 72,297 | ||||||||||||
264,249 | ||||||||||||||
Biotechnology - 6.1% | ||||||||||||||
ACADIA Pharmaceuticals, Inc.(a) | 2,446 | 63,376 | ||||||||||||
Akero Therapeutics, Inc.(a) | 985 | 21,286 | ||||||||||||
Alkermes PLC(a) | 3,460 | 93,593 | ||||||||||||
Alvotech SA(a)(b) | 1,456 | 22,932 | ||||||||||||
Amicus Therapeutics, Inc.(a) | 6,188 | 76,917 | ||||||||||||
Apellis Pharmaceuticals, Inc.(a) | 2,061 | 130,441 | ||||||||||||
Arrowhead Pharmaceuticals, Inc.(a) | 2,082 | 66,832 | ||||||||||||
Beam Therapeutics, Inc.(a) | 1,562 | 38,113 | ||||||||||||
Blueprint Medicines Corp.(a) | 1,230 | 97,822 | ||||||||||||
Bridgebio Pharma, Inc.(a) | 2,382 | 81,679 | ||||||||||||
Cerevel Therapeutics Holdings, Inc.(a) | 1,427 | 59,791 | ||||||||||||
CRISPR Therapeutics AG(a)(b) | 1,562 | 98,327 | ||||||||||||
Cytokinetics, Inc.(a) | 1,938 | 151,416 | ||||||||||||
Denali Therapeutics, Inc.(a) | 2,050 | 32,821 | ||||||||||||
ImmunoGen, Inc.(a) | 5,104 | 149,649 | ||||||||||||
Immunovant, Inc.(a) | 1,208 | 43,983 | ||||||||||||
Insmed, Inc.(a) | 3,089 | 85,874 | ||||||||||||
Intellia Therapeutics, Inc.(a) | 1,719 | 40,947 | ||||||||||||
Krystal Biotech, Inc.(a) | 532 | 59,185 | ||||||||||||
Madrigal Pharmaceuticals, Inc.(a) | 314 | 68,047 | ||||||||||||
MoonLake Immunotherapeutics(a) | 284 | 15,870 | ||||||||||||
Morphic Holding, Inc.(a) | 793 | 25,130 | ||||||||||||
Mural Oncology PLC(a) | 341 | 1,497 | ||||||||||||
Natera, Inc.(a) | 2,250 | 148,365 |
The accompanying notes are an integral part of these financial statements.
109
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Biotechnology - 6.1% (Continued) | ||||||||||||||
Nuvalent, Inc. - Class A(a) | 671 | $ | 50,439 | |||||||||||
ProKidney Corp.(a) | 705 | 924 | ||||||||||||
Prothena Corp. PLC(a) | 796 | 22,598 | ||||||||||||
PTC Therapeutics, Inc.(a) | 1,506 | 39,292 | ||||||||||||
Recursion Pharmaceuticals, Inc. - Class A(a) | 3,489 | 32,831 | ||||||||||||
REVOLUTION Medicines, Inc.(a) | 2,943 | 81,668 | ||||||||||||
Sage Therapeutics, Inc.(a) | 1,071 | 27,460 | ||||||||||||
TG Therapeutics, Inc.(a) | 2,792 | 45,342 | ||||||||||||
Ultragenyx Pharmaceutical, Inc.(a) | 1,642 | 72,429 | ||||||||||||
Vaxcyte, Inc.(a) | 1,775 | 126,771 | ||||||||||||
2,173,647 | ||||||||||||||
Brewers - 0.2% | ||||||||||||||
Boston Beer Co., Inc. - Class A(a) | 193 | 67,409 | ||||||||||||
Broadcasting - 0.2% | ||||||||||||||
TEGNA, Inc. | 4,150 | 64,699 | ||||||||||||
Broadline Retail - 0.7% | ||||||||||||||
Dillard's, Inc. - Class A | 59 | 22,849 | ||||||||||||
Kohl's Corp. | 2,214 | 57,033 | ||||||||||||
Macy's, Inc. | 5,686 | 103,996 | ||||||||||||
Ollie's Bargain Outlet Holdings, Inc.(a) | 1,264 | 90,920 | ||||||||||||
274,798 | ||||||||||||||
Building Products - 1.8% | ||||||||||||||
AAON, Inc. | 1,381 | 96,891 | ||||||||||||
Armstrong World Industries, Inc. | 891 | 88,396 | ||||||||||||
AZEK Co., Inc.(a) | 2,984 | 115,064 | ||||||||||||
CSW Industrials, Inc. | 320 | 67,702 | ||||||||||||
Griffon Corp. | 967 | 56,337 | ||||||||||||
Hayward Holdings, Inc.(a) | 2,340 | 29,297 | ||||||||||||
Masonite International Corp.(a) | 450 | 41,422 | ||||||||||||
Resideo Technologies, Inc.(a) | 2,944 | 49,371 | ||||||||||||
Tecnoglass, Inc. | 465 | 21,395 | ||||||||||||
Zurn Elkay Water Solutions Corp. | 2,839 | 84,176 | ||||||||||||
650,051 | ||||||||||||||
Cable & Satellite - 0.1% | ||||||||||||||
Cable One, Inc. | 87 | 47,757 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
110
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Cargo Ground Transportation - 0.7% | ||||||||||||||
ArcBest Corp. | 432 | $ | 51,464 | |||||||||||
RXO, Inc.(a) | 2,458 | 51,126 | ||||||||||||
Ryder System, Inc. | 875 | 99,374 | ||||||||||||
Schneider National, Inc. - Class B | 823 | 20,180 | ||||||||||||
Werner Enterprises, Inc. | 1,227 | 48,528 | ||||||||||||
270,672 | ||||||||||||||
Casinos & Gaming - 0.4% | ||||||||||||||
Penn Entertainment, Inc.(a) | 2,931 | 66,094 | ||||||||||||
Red Rock Resorts, Inc. - Class A | 1,002 | 54,789 | ||||||||||||
Sportradar Group AG - Class A(a) | 2,247 | 23,189 | ||||||||||||
144,072 | ||||||||||||||
Coal & Consumable Fuels - 0.3% | ||||||||||||||
CONSOL Energy, Inc. | 491 | 46,449 | ||||||||||||
Peabody Energy Corp. | 2,286 | 61,036 | ||||||||||||
107,485 | ||||||||||||||
Commercial & Residential Mortgage Finance - 1.6% | ||||||||||||||
Enact Holdings, Inc. | 623 | 17,749 | ||||||||||||
Essent Group Ltd. | 2,158 | 119,035 | ||||||||||||
MGIC Investment Corp. | 5,841 | 115,886 | ||||||||||||
Mr Cooper Group, Inc.(a) | 1,343 | 90,464 | ||||||||||||
NMI Holdings, Inc. - Class A(a) | 1,722 | 54,966 | ||||||||||||
PennyMac Financial Services, Inc. | 529 | 46,139 | ||||||||||||
Radian Group, Inc. | 3,184 | 92,273 | ||||||||||||
Walker & Dunlop, Inc. | 639 | 61,721 | ||||||||||||
598,233 | ||||||||||||||
Commercial Printing - 0.1% | ||||||||||||||
Brady Corp. - Class A | 894 | 53,846 | ||||||||||||
Commodity Chemicals - 0.3% | ||||||||||||||
Cabot Corp. | 1,132 | 81,617 | ||||||||||||
Tronox Holdings PLC | 2,387 | 32,917 | ||||||||||||
114,534 | ||||||||||||||
Communications Equipment - 0.7% | ||||||||||||||
Calix, Inc.(a) | 1,190 | 39,484 | ||||||||||||
Extreme Networks, Inc.(a) | 2,592 | 35,018 | ||||||||||||
Lumentum Holdings, Inc.(a) | 1,370 | 75,268 |
The accompanying notes are an integral part of these financial statements.
111
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Communications Equipment - 0.7% (Continued) | ||||||||||||||
Viasat, Inc.(a) | 2,309 | $ | 51,329 | |||||||||||
Viavi Solutions, Inc.(a) | 4,527 | 44,500 | ||||||||||||
245,599 | ||||||||||||||
Construction & Engineering - 1.1% | ||||||||||||||
Ameresco, Inc. - Class A(a) | 663 | 13,545 | ||||||||||||
Arcosa, Inc. | 984 | 77,028 | ||||||||||||
Dycom Industries, Inc.(a) | 579 | 64,674 | ||||||||||||
Fluor Corp.(a) | 2,922 | 110,188 | ||||||||||||
MDU Resources Group, Inc. | 4,256 | 83,035 | ||||||||||||
MYR Group, Inc.(a) | 334 | 48,046 | ||||||||||||
396,516 | ||||||||||||||
Construction Machinery & Heavy Transportation Equipment - 0.6% | ||||||||||||||
Allison Transmission Holdings, Inc. | 1,861 | 112,665 | ||||||||||||
Federal Signal Corp. | 1,219 | 93,839 | ||||||||||||
206,504 | ||||||||||||||
Construction Machinery & Heavy Trucks - 0.2% | ||||||||||||||
Terex Corp. | 1,353 | 83,115 | ||||||||||||
Construction Materials - 0.4% | ||||||||||||||
Knife River Corp.(a) | 1,036 | 67,848 | ||||||||||||
Summit Materials, Inc. - Class A(a) | 2,430 | 87,917 | ||||||||||||
155,765 | ||||||||||||||
Consumer Finance - 0.8% | ||||||||||||||
FirstCash Holdings, Inc. | 760 | 87,225 | ||||||||||||
Navient Corp. | 1,760 | 30,307 | ||||||||||||
Nelnet, Inc. - Class A | 278 | 24,222 | ||||||||||||
SLM Corp. | 4,579 | 91,031 | ||||||||||||
Upstart Holdings, Inc.(a)(b) | 1,467 | 46,592 | ||||||||||||
279,377 | ||||||||||||||
Consumer Staples Merchandise Retail - 0.1% | ||||||||||||||
PriceSmart, Inc. | 533 | 40,519 | ||||||||||||
Data Processing & Outsourced Services - 1.1% | ||||||||||||||
Concentrix Corp. | 1,197 | 106,377 | ||||||||||||
ExlService Holdings, Inc.(a) | 3,332 | 104,225 | ||||||||||||
Maximus, Inc. | 1,232 | 99,940 | ||||||||||||
Verra Mobility Corp.(a) | 3,522 | 84,211 | ||||||||||||
394,753 |
The accompanying notes are an integral part of these financial statements.
112
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Department Stores - 0.1% | ||||||||||||||
Nordstrom, Inc. | 1,995 | $ | 36,209 | |||||||||||
Distillers & Vintners - 0.1% | ||||||||||||||
MGP Ingredients, Inc. | 290 | 24,636 | ||||||||||||
Diversified Chemicals - 0.2% | ||||||||||||||
Huntsman Corp. | 3,494 | 85,743 | ||||||||||||
Diversified Financial Services - 0.2% | ||||||||||||||
Jackson Financial, Inc. - Class A | 1,659 | 83,066 | ||||||||||||
Diversified Metals & Mining - 0.3% | ||||||||||||||
Materion Corp. | 427 | 49,946 | ||||||||||||
MP Materials Corp.(a) | 3,158 | 49,928 | ||||||||||||
99,874 | ||||||||||||||
Diversified Real Estate Activities - 0.1% | ||||||||||||||
St Joe Co. | 837 | 46,202 | ||||||||||||
Diversified Support Services - 0.3% | ||||||||||||||
ACV Auctions, Inc. - Class A(a) | 2,715 | 35,214 | ||||||||||||
Driven Brands Holdings, Inc.(a) | 1,268 | 16,623 | ||||||||||||
UniFirst Corp. | 301 | 50,995 | ||||||||||||
102,832 | ||||||||||||||
Education Services - 0.7% | ||||||||||||||
Bright Horizons Family Solutions, Inc.(a) | 1,192 | 117,113 | ||||||||||||
Graham Holdings Co. - Class B | 72 | 51,869 | ||||||||||||
Grand Canyon Education, Inc.(a) | 613 | 80,052 | ||||||||||||
249,034 | ||||||||||||||
Electric Utilities - 1.3% | ||||||||||||||
ALLETE, Inc. | 1,167 | 68,981 | ||||||||||||
Hawaiian Electric Industries, Inc. | 2,247 | 29,144 | ||||||||||||
IDACORP, Inc. | 1,030 | 95,357 | ||||||||||||
MGE Energy, Inc. | 738 | 47,594 | ||||||||||||
Otter Tail Corp. | 810 | 73,240 | ||||||||||||
PNM Resources, Inc. | 1,743 | 63,149 | ||||||||||||
Portland General Electric Co. | 2,137 | 87,467 | ||||||||||||
464,932 | ||||||||||||||
Electrical Components & Equipment - 1.4% | ||||||||||||||
Acuity Brands, Inc. | 632 | 150,518 | ||||||||||||
Array Technologies, Inc.(a) | 2,941 | 38,939 |
The accompanying notes are an integral part of these financial statements.
113
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Electrical Components & Equipment - 1.4% (Continued) | ||||||||||||||
ChargePoint Holdings, Inc.(a)(b) | 6,706 | $ | 12,741 | |||||||||||
Encore Wire Corp. | 323 | 72,837 | ||||||||||||
EnerSys | 824 | 78,750 | ||||||||||||
Enovix Corp.(a) | 2,653 | 24,699 | ||||||||||||
Fluence Energy, Inc.(a) | 836 | 16,611 | ||||||||||||
Shoals Technologies Group, Inc. - Class A(a) | 3,448 | 45,410 | ||||||||||||
Sunrun, Inc.(a) | 4,386 | 63,509 | ||||||||||||
Vicor Corp.(a) | 458 | 17,253 | ||||||||||||
521,267 | ||||||||||||||
Electronic Components - 0.4% | ||||||||||||||
Belden, Inc. | 855 | 63,424 | ||||||||||||
Rogers Corp.(a) | 370 | 42,650 | ||||||||||||
Vishay Intertechnology, Inc. | 2,595 | 56,389 | ||||||||||||
162,463 | ||||||||||||||
Electronic Equipment & Instruments - 0.9% | ||||||||||||||
Advanced Energy Industries, Inc. | 754 | 78,552 | ||||||||||||
Badger Meter, Inc. | 610 | 87,834 | ||||||||||||
Itron, Inc.(a) | 925 | 66,730 | ||||||||||||
Vontier Corp. | 3,179 | 109,961 | ||||||||||||
343,077 | ||||||||||||||
Electronic Manufacturing Services - 0.3% | ||||||||||||||
Plexus Corp.(a) | 548 | 51,907 | ||||||||||||
Sanmina Corp.(a) | 1,157 | 69,211 | ||||||||||||
121,118 | ||||||||||||||
Environmental & Facilities Services - 0.7% | ||||||||||||||
ABM Industries, Inc. | 1,339 | 54,618 | ||||||||||||
Casella Waste Systems, Inc. - Class A(a) | 1,162 | 99,165 | ||||||||||||
Stericycle, Inc.(a) | 1,889 | 90,672 | ||||||||||||
244,455 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.1% | ||||||||||||||
Scotts Miracle-Gro Co. | 847 | 47,652 | ||||||||||||
Food Retail - 0.4% | ||||||||||||||
Grocery Outlet Holding Corp.(a) | 1,851 | 45,868 | ||||||||||||
Sprouts Farmers Market, Inc.(a) | 2,090 | 105,273 | ||||||||||||
151,141 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
114
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Footwear - 0.2% | ||||||||||||||
Steven Madden Ltd. | 1,522 | $ | 63,741 | |||||||||||
Forest Products - 0.2% | ||||||||||||||
Louisiana-Pacific Corp. | 1,329 | 88,445 | ||||||||||||
Gas Utilities - 1.3% | ||||||||||||||
National Fuel Gas Co. | 1,860 | 87,718 | ||||||||||||
New Jersey Resources Corp. | 1,984 | 81,007 | ||||||||||||
ONE Gas, Inc. | 1,112 | 68,243 | ||||||||||||
Southwest Gas Holdings, Inc. | 1,407 | 82,563 | ||||||||||||
Spire, Inc. | 1,084 | 61,539 | ||||||||||||
UGI Corp. | 4,315 | 95,533 | ||||||||||||
476,603 | ||||||||||||||
Health Care Distributors - 0.1% | ||||||||||||||
Patterson Cos., Inc. | 1,743 | 52,046 | ||||||||||||
Health Care Equipment - 2.0% | ||||||||||||||
AtriCure, Inc.(a) | 956 | 32,561 | ||||||||||||
Axonics, Inc.(a) | 1,019 | 69,170 | ||||||||||||
CONMED Corp. | 627 | 59,941 | ||||||||||||
Enovis Corp.(a) | 1,003 | 58,876 | ||||||||||||
Glaukos Corp.(a) | 961 | 85,559 | ||||||||||||
Inari Medical, Inc.(a) | 931 | 53,020 | ||||||||||||
Inmode Ltd.(a) | 1,403 | 33,237 | ||||||||||||
Integer Holdings Corp.(a) | 671 | 67,986 | ||||||||||||
Integra LifeSciences Holdings Corp.(a) | 1,396 | 56,049 | ||||||||||||
iRhythm Technologies, Inc.(a) | 596 | 71,389 | ||||||||||||
LivaNova PLC(a) | 1,098 | 53,451 | ||||||||||||
Novocure Ltd.(a) | 2,290 | 31,877 | ||||||||||||
Omnicell, Inc.(a) | 901 | 28,985 | ||||||||||||
TransMedics Group, Inc.(a) | 595 | 51,033 | ||||||||||||
753,134 | ||||||||||||||
Health Care Facilities - 0.6% | ||||||||||||||
Ensign Group, Inc. | 1,132 | 128,166 | ||||||||||||
Select Medical Holdings Corp. | 2,151 | 55,904 | ||||||||||||
Surgery Partners, Inc.(a) | 1,370 | 42,045 | ||||||||||||
226,115 | ||||||||||||||
Health Care Services - 1.0% | ||||||||||||||
Agiliti, Inc.(a) | 718 | 5,091 | ||||||||||||
Amedisys, Inc.(a) | 664 | 62,596 |
The accompanying notes are an integral part of these financial statements.
115
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Health Care Services - 1.0% (Continued) | ||||||||||||||
AMN Healthcare Services, Inc.(a) | 809 | $ | 59,874 | |||||||||||
CorVel Corp.(a) | 185 | 43,538 | ||||||||||||
Guardant Health, Inc.(a) | 2,327 | 51,031 | ||||||||||||
LifeStance Health Group, Inc.(a) | 1,426 | 8,527 | ||||||||||||
Premier, Inc. - Class A | 2,405 | 51,996 | ||||||||||||
Privia Health Group, Inc.(a) | 2,090 | 42,134 | ||||||||||||
RadNet, Inc.(a) | 1,194 | 44,142 | ||||||||||||
368,929 | ||||||||||||||
Health Care Supplies - 0.8% | ||||||||||||||
Haemonetics Corp.(a) | 1,025 | 78,372 | ||||||||||||
ICU Medical, Inc.(a) | 460 | 42,104 | ||||||||||||
Merit Medical Systems, Inc.(a) | 1,148 | 89,887 | ||||||||||||
Neogen Corp.(a) | 4,060 | 62,930 | ||||||||||||
STAAR Surgical Co.(a) | 979 | 27,422 | ||||||||||||
300,715 | ||||||||||||||
Health Care Technology - 0.6% | ||||||||||||||
Certara, Inc.(a) | 2,428 | 39,236 | ||||||||||||
Evolent Health, Inc. - Class A(a) | 2,207 | 64,908 | ||||||||||||
GoodRx Holdings, Inc. - Class A(a) | 1,519 | 9,114 | ||||||||||||
Schrodinger, Inc.(a) | 1,278 | 33,803 | ||||||||||||
Teladoc Health, Inc.(a) | 3,209 | 62,351 | ||||||||||||
209,412 | ||||||||||||||
Heavy Electrical Equipment - 0.1% | ||||||||||||||
Bloom Energy Corp. - Class A(a)(b) | 3,674 | 41,590 | ||||||||||||
Home Furnishings - 0.2% | ||||||||||||||
Leggett & Platt, Inc. | 2,659 | 61,715 | ||||||||||||
Homebuilding - 2.5% | ||||||||||||||
Cavco Industries, Inc.(a) | 164 | 54,435 | ||||||||||||
Century Communities, Inc. | 605 | 52,454 | ||||||||||||
Dream Finders Homes, Inc. - Class A(a) | 430 | 14,134 | ||||||||||||
Green Brick Partners, Inc.(a) | 661 | 34,484 | ||||||||||||
Installed Building Products, Inc. | 480 | 93,528 | ||||||||||||
KB Home | 1,460 | 87,001 | ||||||||||||
LGI Homes, Inc.(a) | 421 | 49,682 | ||||||||||||
M/I Homes, Inc.(a) | 555 | 70,718 | ||||||||||||
MDC Holdings, Inc. | 1,254 | 78,475 | ||||||||||||
Meritage Homes Corp. | 734 | 121,559 |
The accompanying notes are an integral part of these financial statements.
116
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Homebuilding - 2.5% (Continued) | ||||||||||||||
Skyline Champion Corp.(a) | 1,089 | $ | 74,575 | |||||||||||
Taylor Morrison Home Corp.(a) | 2,154 | 112,310 | ||||||||||||
Tri Pointe Homes, Inc.(a) | 2,033 | 70,199 | ||||||||||||
913,554 | ||||||||||||||
Hotels, Resorts & Cruise Lines - 0.5% | ||||||||||||||
Hilton Grand Vacations, Inc.(a) | 1,641 | 68,429 | ||||||||||||
Marriott Vacations Worldwide Corp. | 713 | 59,814 | ||||||||||||
Travel + Leisure Co. | 1,468 | 59,337 | ||||||||||||
187,580 | ||||||||||||||
Household Appliances - 0.3% | ||||||||||||||
Cricut, Inc. - Class A | 563 | 2,950 | ||||||||||||
Helen of Troy Ltd.(a) | 483 | 55,304 | ||||||||||||
Worthington Enterprises, Inc. | 576 | 32,855 | ||||||||||||
91,109 | ||||||||||||||
Household Products - 0.5% | ||||||||||||||
Energizer Holdings, Inc. | 1,459 | 46,134 | ||||||||||||
Spectrum Brands Holdings, Inc. | 717 | 56,371 | ||||||||||||
WD-40 Co. | 273 | 70,701 | ||||||||||||
173,206 | ||||||||||||||
Housewares & Specialties - 0.2% | ||||||||||||||
Newell Brands, Inc. | 8,162 | 67,908 | ||||||||||||
Human Resource & Employment Services - 1.1% | ||||||||||||||
Alight, Inc. - Class A(a) | 7,409 | 66,088 | ||||||||||||
ASGN, Inc.(a) | 974 | 90,407 | ||||||||||||
First Advantage Corp. | 1,058 | 17,319 | ||||||||||||
Insperity, Inc. | 730 | 83,724 | ||||||||||||
Korn Ferry | 1,061 | 62,249 | ||||||||||||
ManpowerGroup, Inc. | 1,014 | 75,178 | ||||||||||||
Paycor HCM, Inc.(a) | 1,283 | 24,929 | ||||||||||||
419,894 | ||||||||||||||
Industrial Machinery & Supplies & Components - 3.2% | ||||||||||||||
Albany International Corp. - Class A | 630 | 56,013 | ||||||||||||
Crane Co. | 992 | 123,118 | ||||||||||||
Crane NXT Co. | 989 | 57,639 | ||||||||||||
Enpro, Inc. | 423 | 63,188 | ||||||||||||
Esab Corp. | 1,156 | 99,404 | ||||||||||||
ESCO Technologies, Inc. | 529 | 53,889 |
The accompanying notes are an integral part of these financial statements.
117
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Industrial Machinery & Supplies & Components - 3.2% (Continued) | ||||||||||||||
Flowserve Corp. | 2,715 | $ | 108,410 | |||||||||||
Franklin Electric Co., Inc. | 825 | 77,765 | ||||||||||||
Gates Industrial Corp. PLC(a) | 3,291 | 42,388 | ||||||||||||
Hillenbrand, Inc. | 1,498 | 69,762 | ||||||||||||
John Bean Technologies Corp. | 663 | 65,478 | ||||||||||||
Kadant, Inc. | 230 | 65,780 | ||||||||||||
Kennametal, Inc. | 1,635 | 40,090 | ||||||||||||
Mueller Industries, Inc. | 2,278 | 109,345 | ||||||||||||
Mueller Water Products, Inc. - Class A | 3,257 | 44,653 | ||||||||||||
SPX Technologies, Inc.(a) | 903 | 90,878 | ||||||||||||
1,167,800 | ||||||||||||||
Insurance Brokers - 0.2% | ||||||||||||||
BRP Group, Inc. - Class A(a) | 1,275 | 28,611 | ||||||||||||
Goosehead Insurance, Inc. - Class A(a) | 421 | 32,501 | ||||||||||||
Hagerty, Inc. - Class A(a) | 431 | 3,470 | ||||||||||||
64,582 | ||||||||||||||
Integrated Telecommunication Services - 0.3% | ||||||||||||||
Frontier Communications Parent, Inc.(a) | 5,071 | 124,899 | ||||||||||||
Interactive Home Entertainment - 0.0%(c) | ||||||||||||||
Playtika Holding Corp.(a) | 940 | 6,787 | ||||||||||||
Interactive Media & Services - 0.7% | ||||||||||||||
Bumble, Inc. - Class A(a) | 2,036 | 27,934 | ||||||||||||
Cargurus, Inc.(a) | 1,940 | 45,086 | ||||||||||||
Rumble, Inc.(a)(b) | 1,296 | 8,878 | ||||||||||||
TripAdvisor, Inc.(a) | 1,958 | 42,293 | ||||||||||||
Yelp, Inc.(a) | 1,325 | 57,942 | ||||||||||||
Ziff Davis, Inc.(a) | 938 | 63,220 | ||||||||||||
245,353 | ||||||||||||||
Internet Services & Infrastructure - 0.2% | ||||||||||||||
DigitalOcean Holdings, Inc.(a) | 1,139 | 38,407 | ||||||||||||
Squarespace, Inc. - Class A(a) | 1,143 | 35,433 | ||||||||||||
73,840 | ||||||||||||||
Investment Banking & Brokerage - 1.2% | ||||||||||||||
Evercore, Inc. - Class A | 722 | 123,989 | ||||||||||||
Lazard, Inc. | 2,385 | 92,967 | ||||||||||||
Moelis & Co. - Class A | 1,355 | 74,484 | ||||||||||||
Piper Sandler Cos. | 346 | 60,028 |
The accompanying notes are an integral part of these financial statements.
118
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Investment Banking & Brokerage - 1.2% (Continued) | ||||||||||||||
PJT Partners, Inc. - Class A | 455 | $ | 43,757 | |||||||||||
Virtu Financial, Inc. - Class A | 1,854 | 31,129 | ||||||||||||
426,354 | ||||||||||||||
IT Consulting & Other Services - 0.4% | ||||||||||||||
Kyndryl Holdings, Inc.(a) | 4,633 | 95,069 | ||||||||||||
Perficient, Inc.(a) | 699 | 47,623 | ||||||||||||
142,692 | ||||||||||||||
Leisure Facilities - 0.1% | ||||||||||||||
Life Time Group Holdings, Inc.(a) | 1,057 | 14,058 | ||||||||||||
SeaWorld Entertainment, Inc.(a) | 725 | 35,815 | ||||||||||||
49,873 | ||||||||||||||
Leisure Products - 0.5% | ||||||||||||||
Acushnet Holdings Corp. | 621 | 39,334 | ||||||||||||
Peloton Interactive, Inc. - Class A(a) | 6,657 | 37,013 | ||||||||||||
Topgolf Callaway Brands Corp.(a) | 2,923 | 38,496 | ||||||||||||
YETI Holdings, Inc.(a) | 1,788 | 78,618 | ||||||||||||
193,461 | ||||||||||||||
Life & Health Insurance - 1.1% | ||||||||||||||
American Equity Investment Life Holding Co.(a) | 1,541 | 85,079 | ||||||||||||
Brighthouse Financial, Inc.(a) | 1,357 | 70,252 | ||||||||||||
CNO Financial Group, Inc. | 2,287 | 62,161 | ||||||||||||
F&G Annuities & Life, Inc. | 375 | 16,815 | ||||||||||||
Genworth Financial, Inc. - Class A(a) | 9,866 | 60,873 | ||||||||||||
Lincoln National Corp. | 3,448 | 94,647 | ||||||||||||
389,827 | ||||||||||||||
Life Sciences Tools & Services - 0.6% | ||||||||||||||
Azenta, Inc.(a) | 1,212 | 79,022 | ||||||||||||
Fortrea Holdings, Inc.(a) | 1,853 | 57,369 | ||||||||||||
Maravai LifeSciences Holdings, Inc. - Class A(a) | 2,246 | 13,027 | ||||||||||||
Pacific Biosciences of California, Inc.(a) | 5,363 | 34,913 | ||||||||||||
Sotera Health Co.(a) | 2,010 | 29,587 | ||||||||||||
213,918 | ||||||||||||||
Managed Health Care - 0.5% | ||||||||||||||
HealthEquity, Inc.(a) | 1,776 | 134,230 | ||||||||||||
Progyny, Inc.(a) | 1,760 | 67,038 | ||||||||||||
201,268 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
119
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Marine Transportation - 0.5% | ||||||||||||||
Kirby Corp.(a) | 1,223 | $ | 96,201 | |||||||||||
Matson, Inc. | 706 | 79,093 | ||||||||||||
175,294 | ||||||||||||||
Metal, Glass & Plastic Containers - 0.4% | ||||||||||||||
Greif, Inc. - Class A | 498 | 31,180 | ||||||||||||
Greif, Inc. - Class B | 52 | 3,260 | ||||||||||||
O-I Glass, Inc.(a) | 3,143 | 45,762 | ||||||||||||
Silgan Holdings, Inc. | 1,766 | 81,130 | ||||||||||||
161,332 | ||||||||||||||
Motorcycle Manufacturers - 0.2% | ||||||||||||||
Harley-Davidson, Inc. | 2,718 | 88,199 | ||||||||||||
Movies & Entertainment - 0.3% | ||||||||||||||
AMC Entertainment Holdings, Inc.(a)(b) | 3,748 | 15,179 | ||||||||||||
Atlanta Braves Holdings, Inc. - Class A(a) | 200 | 8,614 | ||||||||||||
Atlanta Braves Holdings, Inc. - Class C(a) | 770 | 31,039 | ||||||||||||
Madison Square Garden Sports Corp.(a) | 377 | 69,783 | ||||||||||||
124,615 | ||||||||||||||
Multi-Utilities - 0.5% | ||||||||||||||
Avista Corp. | 1,538 | 52,307 | ||||||||||||
Black Hills Corp. | 1,359 | 70,342 | ||||||||||||
Northwestern Energy Group, Inc. | 1,218 | 58,610 | ||||||||||||
181,259 | ||||||||||||||
Oil & Gas Drilling - 0.5% | ||||||||||||||
Helmerich & Payne, Inc. | 1,797 | 72,347 | ||||||||||||
Patterson-UTI Energy, Inc. | 8,613 | 95,518 | ||||||||||||
167,865 | ||||||||||||||
Oil & Gas Equipment & Services - 1.0% | ||||||||||||||
Cactus, Inc. - Class A | 1,326 | 56,275 | ||||||||||||
Expro Group Holdings NV(a) | 1,852 | 32,595 | ||||||||||||
Liberty Energy, Inc. | 3,184 | 66,195 | ||||||||||||
Oceaneering International, Inc.(a) | 2,047 | 42,537 | ||||||||||||
Tidewater, Inc.(a) | 987 | 66,317 | ||||||||||||
Weatherford International PLC(a) | 1,469 | 131,549 | ||||||||||||
395,468 |
The accompanying notes are an integral part of these financial statements.
120
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Oil & Gas Exploration & Production - 1.3% | ||||||||||||||
California Resources Corp. | 1,413 | $ | 67,372 | |||||||||||
Callon Petroleum Co.(a) | 1,243 | 39,925 | ||||||||||||
CNX Resources Corp.(a) | 3,168 | 63,994 | ||||||||||||
Comstock Resources, Inc. | 1,853 | 14,472 | ||||||||||||
Magnolia Oil & Gas Corp. - Class A | 3,673 | 75,737 | ||||||||||||
Northern Oil & Gas, Inc. | 1,760 | 58,960 | ||||||||||||
Sitio Royalties Corp. - Class A | 1,635 | 34,875 | ||||||||||||
SM Energy Co. | 2,423 | 89,844 | ||||||||||||
Viper Energy, Inc. | 1,459 | 45,550 | ||||||||||||
490,729 | ||||||||||||||
Oil & Gas Refining & Marketing - 0.1% | ||||||||||||||
CVR Energy, Inc. | 757 | 25,534 | ||||||||||||
Oil & Gas Storage & Transportation - 0.9% | ||||||||||||||
DT Midstream, Inc. | 1,990 | 106,843 | ||||||||||||
Equitrans Midstream Corp. | 8,501 | 86,625 | ||||||||||||
Golar LNG Ltd. | 2,041 | 44,514 | ||||||||||||
Kinetik Holdings, Inc. | 302 | 9,821 | ||||||||||||
Scorpio Tankers, Inc. | 990 | 69,993 | ||||||||||||
317,796 | ||||||||||||||
Other Specialty Retail - 0.5% | ||||||||||||||
Academy Sports & Outdoors, Inc. | 1,573 | 98,674 | ||||||||||||
Signet Jewelers Ltd. | 877 | 87,244 | ||||||||||||
185,918 | ||||||||||||||
Packaged Foods & Meats - 1.5% | ||||||||||||||
Flowers Foods, Inc. | 3,687 | 84,064 | ||||||||||||
Freshpet, Inc.(a) | 964 | 83,000 | ||||||||||||
J & J Snack Foods Corp. | 234 | 37,260 | ||||||||||||
Lancaster Colony Corp. | 399 | 73,328 | ||||||||||||
Post Holdings, Inc.(a) | 1,029 | 95,563 | ||||||||||||
Seaboard Corp. | 8 | 28,824 | ||||||||||||
Simply Good Foods Co.(a) | 1,854 | 70,081 | ||||||||||||
Tootsie Roll Industries, Inc. | 289 | 9,419 | ||||||||||||
TreeHouse Foods, Inc.(a) | 1,059 | 44,584 | ||||||||||||
Utz Brands, Inc. | 1,371 | 24,267 | ||||||||||||
550,390 | ||||||||||||||
Passenger Airlines - 0.1% | ||||||||||||||
Allegiant Travel Co. | 87 | 6,821 | ||||||||||||
Copa Holdings SA - Class A | 180 | 17,291 |
The accompanying notes are an integral part of these financial statements.
121
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Passenger Airlines - 0.1% (Continued) | ||||||||||||||
JetBlue Airways Corp.(a) | 1,733 | $ | 9,202 | |||||||||||
Joby Aviation, Inc.(a) | 6,901 | 37,679 | ||||||||||||
70,993 | ||||||||||||||
Passenger Ground Transportation - 0.2% | ||||||||||||||
Lyft, Inc. - Class A(a) | 6,449 | 80,548 | ||||||||||||
Personal Care Products - 0.6% | ||||||||||||||
BellRing Brands, Inc.(a) | 2,685 | 148,400 | ||||||||||||
Inter Parfums, Inc. | 366 | 50,929 | ||||||||||||
Olaplex Holdings, Inc.(a) | 1,880 | 4,230 | ||||||||||||
203,559 | ||||||||||||||
Pharmaceuticals - 1.0% | ||||||||||||||
Amphastar Pharmaceuticals, Inc.(a) | 769 | 41,034 | ||||||||||||
Axsome Therapeutics, Inc.(a) | 792 | 71,304 | ||||||||||||
Corcept Therapeutics, Inc.(a) | 1,718 | 36,250 | ||||||||||||
Organon & Co. | 5,313 | 88,461 | ||||||||||||
Perrigo Co. PLC | 2,774 | 88,990 | ||||||||||||
Prestige Consumer Healthcare, Inc.(a) | 1,004 | 61,786 | ||||||||||||
Scilex Holding Co.(a) | 85 | 139 | ||||||||||||
387,964 | ||||||||||||||
Property & Casualty Insurance - 1.2% | ||||||||||||||
Assured Guaranty Ltd. | 1,146 | 92,975 | ||||||||||||
Axis Capital Holdings Ltd. | 1,537 | 91,482 | ||||||||||||
Hanover Insurance Group, Inc. | 667 | 88,051 | ||||||||||||
Kemper Corp. | 1,217 | 73,020 | ||||||||||||
White Mountains Insurance Group Ltd. | 52 | 81,950 | ||||||||||||
427,478 | ||||||||||||||
Real Estate Development - 0.1% | ||||||||||||||
Howard Hughes Holdings, Inc.(a) | 673 | 53,894 | ||||||||||||
Real Estate Operating Companies - 0.2% | ||||||||||||||
DigitalBridge Group, Inc. | 3,347 | 65,735 | ||||||||||||
Kennedy-Wilson Holdings, Inc. | 2,192 | 22,906 | ||||||||||||
88,641 | ||||||||||||||
Real Estate Services - 0.3% | ||||||||||||||
Cushman & Wakefield PLC(a) | 3,520 | 37,030 | ||||||||||||
eXp World Holdings, Inc.(b) | 1,589 | 19,672 |
The accompanying notes are an integral part of these financial statements.
122
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Real Estate Services - 0.3% (Continued) | ||||||||||||||
Opendoor Technologies, Inc.(a) | 11,357 | $ | 38,841 | |||||||||||
95,543 | ||||||||||||||
Regional Banks - 8.4% | ||||||||||||||
Ameris Bancorp | 1,346 | 66,815 | ||||||||||||
Associated Banc-Corp. | 3,010 | 63,240 | ||||||||||||
Atlantic Union Bankshares Corp. | 1,510 | 51,582 | ||||||||||||
Axos Financial, Inc.(a) | 1,081 | 59,920 | ||||||||||||
BancFirst Corp. | 353 | 31,244 | ||||||||||||
Bank of Hawaii Corp. | 800 | 50,584 | ||||||||||||
Bank OZK | 2,297 | 103,618 | ||||||||||||
Cadence Bank | 3,674 | 97,802 | ||||||||||||
Cathay General Bancorp | 1,412 | 58,132 | ||||||||||||
Columbia Banking System, Inc. | 4,292 | 86,527 | ||||||||||||
Community Bank System, Inc. | 1,084 | 49,615 | ||||||||||||
CVB Financial Corp. | 2,693 | 45,162 | ||||||||||||
Eastern Bankshares, Inc. | 3,263 | 45,551 | ||||||||||||
First BanCorp | 3,607 | 60,165 | ||||||||||||
First Financial Bankshares, Inc. | 2,851 | 89,037 | ||||||||||||
First Hawaiian, Inc. | 2,600 | 56,394 | ||||||||||||
First Interstate BancSystem, Inc. - Class A | 1,730 | 47,610 | ||||||||||||
FNB Corp. | 7,362 | 97,031 | ||||||||||||
Fulton Financial Corp. | 3,325 | 51,837 | ||||||||||||
Glacier Bancorp, Inc. | 2,270 | 87,758 | ||||||||||||
Hancock Whitney Corp. | 1,731 | 78,085 | ||||||||||||
Home BancShares, Inc. | 3,857 | 90,408 | ||||||||||||
Independent Bank Corp. | 877 | 49,191 | ||||||||||||
International Bancshares Corp. | 1,137 | 60,102 | ||||||||||||
Old National Bancorp | 5,894 | 97,074 | ||||||||||||
Pacific Premier Bancorp, Inc. | 1,923 | 48,787 | ||||||||||||
Pinnacle Financial Partners, Inc. | 1,526 | 134,867 | ||||||||||||
Popular, Inc. | 1,453 | 124,159 | ||||||||||||
ServisFirst Bancshares, Inc. | 1,018 | 68,349 | ||||||||||||
Simmons First National Corp. - Class A | 2,512 | 47,753 | ||||||||||||
Synovus Financial Corp. | 2,919 | 109,930 | ||||||||||||
Texas Capital Bancshares, Inc.(a) | 963 | 58,743 | ||||||||||||
TFS Financial Corp. | 1,096 | 14,599 | ||||||||||||
UMB Financial Corp. | 805 | 66,413 | ||||||||||||
United Bankshares, Inc. | 2,708 | 97,082 | ||||||||||||
United Community Banks, Inc. | 2,381 | 65,097 | ||||||||||||
Valley National Bancorp | 8,913 | 85,743 | ||||||||||||
Western Alliance Bancorp | 2,142 | 137,001 |
The accompanying notes are an integral part of these financial statements.
123
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Regional Banks - 8.4% (Continued) | ||||||||||||||
Wintrust Financial Corp. | 1,240 | $ | 120,255 | |||||||||||
WSFS Financial Corp. | 1,245 | 55,415 | ||||||||||||
Zions Bancorp NA | 3,071 | 128,675 | ||||||||||||
3,037,352 | ||||||||||||||
Reinsurance - 0.2% | ||||||||||||||
Enstar Group Ltd.(a) | 267 | 71,260 | ||||||||||||
Renewable Electricity - 0.6% | ||||||||||||||
Clearway Energy, Inc. - Class A | 705 | 15,834 | ||||||||||||
Clearway Energy, Inc. - Class C | 1,743 | 42,250 | ||||||||||||
NextEra Energy Partners LP | 1,932 | 57,670 | ||||||||||||
Ormat Technologies, Inc. | 1,033 | 66,815 | ||||||||||||
Sunnova Energy International, Inc.(a) | 2,057 | 21,640 | ||||||||||||
204,209 | ||||||||||||||
Research & Consulting Services - 0.8% | ||||||||||||||
CBIZ, Inc.(a) | 980 | 62,387 | ||||||||||||
Dun & Bradstreet Holdings, Inc. | 5,787 | 67,071 | ||||||||||||
Exponent, Inc. | 1,057 | 93,217 | ||||||||||||
Legalzoom.com, Inc.(a) | 2,311 | 23,826 | ||||||||||||
Parsons Corp.(a) | 905 | 58,961 | ||||||||||||
305,462 | ||||||||||||||
Restaurants - 1.2% | ||||||||||||||
Bloomin' Brands, Inc. | 1,853 | 49,327 | ||||||||||||
Dutch Bros, Inc. - Class A(a) | 1,141 | 30,636 | ||||||||||||
Krispy Kreme, Inc. | 1,653 | 21,968 | ||||||||||||
Papa John's International, Inc. | 660 | 48,497 | ||||||||||||
Shake Shack, Inc. - Class A(a) | 761 | 57,501 | ||||||||||||
Wendy's Co. | 3,535 | 67,448 | ||||||||||||
Wingstop, Inc. | 608 | 170,915 | ||||||||||||
446,292 | ||||||||||||||
Security & Alarm Services - 0.2% | ||||||||||||||
Brink's Co. | 929 | 75,100 | ||||||||||||
Semiconductor Materials & Equipment - 0.8% | ||||||||||||||
FormFactor, Inc.(a) | 1,597 | 61,916 | ||||||||||||
Kulicke & Soffa Industries, Inc. | 1,122 | 56,459 | ||||||||||||
Onto Innovation, Inc.(a) | 996 | 160,854 | ||||||||||||
279,229 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
124
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Semiconductors - 1.7% | ||||||||||||||
Ambarella, Inc.(a) | 755 | $ | 39,683 | |||||||||||
Cirrus Logic, Inc.(a) | 1,118 | 86,310 | ||||||||||||
Credo Technology Group Holding Ltd.(a) | 2,197 | 45,060 | ||||||||||||
Diodes, Inc.(a) | 899 | 60,521 | ||||||||||||
MACOM Technology Solutions Holdings, Inc.(a) | 1,111 | 95,802 | ||||||||||||
MaxLinear, Inc.(a) | 1,494 | 31,105 | ||||||||||||
Power Integrations, Inc. | 1,189 | 89,127 | ||||||||||||
Silicon Laboratories, Inc.(a) | 631 | 77,840 | ||||||||||||
SiTime Corp.(a) | 327 | 34,848 | ||||||||||||
Synaptics, Inc.(a) | 800 | 85,448 | ||||||||||||
645,744 | ||||||||||||||
Silver - 0.1% | ||||||||||||||
Hecla Mining Co. | 11,777 | 44,870 | ||||||||||||
Soft Drinks & Non-alcoholic Beverages - 0.1% | ||||||||||||||
National Beverage Corp.(a) | 477 | 22,056 | ||||||||||||
Specialized Consumer Services - 0.6% | ||||||||||||||
Frontdoor, Inc.(a) | 1,645 | 53,890 | ||||||||||||
H&R Block, Inc. | 2,974 | 139,303 | ||||||||||||
Mister Car Wash, Inc.(a) | 1,751 | 14,533 | ||||||||||||
207,726 | ||||||||||||||
Specialty Chemicals - 2.0% | ||||||||||||||
Arcadium Lithium PLC(a)(b) | 8,673 | 42,411 | ||||||||||||
Ashland, Inc. | 969 | 90,718 | ||||||||||||
Avient Corp. | 1,850 | 66,989 | ||||||||||||
Balchem Corp. | 667 | 93,486 | ||||||||||||
Element Solutions, Inc. | 4,492 | 99,856 | ||||||||||||
Ginkgo Bioworks Holdings, Inc.(a)(b) | 28,836 | 34,892 | ||||||||||||
HB Fuller Co. | 1,096 | 83,044 | ||||||||||||
Innospec, Inc. | 499 | 57,939 | ||||||||||||
NewMarket Corp. | 142 | 79,209 | ||||||||||||
Quaker Chemical Corp. | 286 | 54,323 | ||||||||||||
Sensient Technologies Corp. | 853 | 52,912 | ||||||||||||
755,779 | ||||||||||||||
Steel - 0.6% | ||||||||||||||
Alpha Metallurgical Resources, Inc. | 219 | 87,433 | ||||||||||||
Arch Resources, Inc. | 367 | 64,944 |
The accompanying notes are an integral part of these financial statements.
125
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Steel - 0.6% (Continued) | ||||||||||||||
Carpenter Technology Corp. | 984 | $ | 60,605 | |||||||||||
Worthington Steel, Inc.(a) | 610 | 18,270 | ||||||||||||
231,252 | ||||||||||||||
Systems Software - 2.0% | ||||||||||||||
Appian Corp. - Class A(a) | 834 | 27,213 | ||||||||||||
CommVault Systems, Inc.(a) | 879 | 80,587 | ||||||||||||
N-able, Inc.(a) | 1,323 | 17,173 | ||||||||||||
Progress Software Corp. | 872 | 49,538 | ||||||||||||
Qualys, Inc.(a) | 752 | 142,257 | ||||||||||||
Rapid7, Inc.(a) | 1,222 | 67,247 | ||||||||||||
SentinelOne, Inc. - Class A(a) | 4,761 | 127,595 | ||||||||||||
Tenable Holdings, Inc.(a) | 2,351 | 110,732 | ||||||||||||
Varonis Systems, Inc.(a) | 2,173 | 97,524 | ||||||||||||
719,866 | ||||||||||||||
Technology Distributors - 0.6% | ||||||||||||||
Avnet, Inc. | 1,884 | 85,345 | ||||||||||||
Insight Enterprises, Inc.(a) | 748 | 138,186 | ||||||||||||
223,531 | ||||||||||||||
Technology Hardware, Storage & Peripherals - 0.2% | ||||||||||||||
IonQ, Inc.(a)(b) | 3,442 | 35,349 | ||||||||||||
Xerox Holdings Corp. | 2,223 | 41,037 | ||||||||||||
76,386 | ||||||||||||||
Tires & Rubber - 0.2% | ||||||||||||||
Goodyear Tire & Rubber Co.(a) | 5,818 | 81,103 | ||||||||||||
Trading Companies & Distributors - 2.5% | ||||||||||||||
Air Lease Corp. | 2,121 | 88,679 | ||||||||||||
Applied Industrial Technologies, Inc. | 797 | 140,639 | ||||||||||||
Beacon Roofing Supply, Inc.(a) | 1,113 | 92,257 | ||||||||||||
Boise Cascade Co. | 801 | 108,503 | ||||||||||||
FTAI Aviation Ltd. | 1,796 | 96,894 | ||||||||||||
GATX Corp. | 735 | 90,148 | ||||||||||||
GMS, Inc.(a) | 831 | 69,937 | ||||||||||||
Herc Holdings, Inc. | 540 | 79,645 | ||||||||||||
McGrath RentCorp | 488 | 61,317 | ||||||||||||
Rush Enterprises, Inc. - Class A | 1,267 | 56,901 | ||||||||||||
Rush Enterprises, Inc. - Class B | 145 | 6,854 | ||||||||||||
891,774 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
126
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 92.8% (Continued) | Shares | Value | ||||||||||||
Transaction & Payment Processing Services - 1.7% | ||||||||||||||
Affirm Holdings, Inc.(a) | 4,285 | $ | 173,585 | |||||||||||
AvidXchange Holdings, Inc.(a) | 3,193 | 34,995 | ||||||||||||
EVERTEC, Inc. | 1,320 | 53,011 | ||||||||||||
Flywire Corp.(a) | 2,446 | 52,271 | ||||||||||||
Marqeta, Inc. - Class A(a) | 10,411 | 62,570 | ||||||||||||
NCR Atleos Corp.(a) | 1,568 | 35,108 | ||||||||||||
Remitly Global, Inc.(a) | 2,488 | 42,644 | ||||||||||||
Shift4 Payments, Inc. - Class A(a) | 1,144 | 82,151 | ||||||||||||
Western Union Co. | 7,544 | 94,828 | ||||||||||||
631,163 | ||||||||||||||
Water Utilities - 0.4% | ||||||||||||||
American States Water Co. | 747 | 55,726 | ||||||||||||
California Water Service Group | 1,223 | 55,365 | ||||||||||||
SJW Group | 583 | 34,712 | ||||||||||||
145,803 | ||||||||||||||
Wireless Telecommunication Services - 0.0%(c) | ||||||||||||||
Gogo, Inc.(a) | 1,264 | 11,186 | ||||||||||||
TOTAL COMMON STOCKS (Cost $32,281,223) | 34,150,080 | |||||||||||||
REAL ESTATE INVESTMENT TRUSTS - 6.5% | ||||||||||||||
Apartment Income REIT Corp. | 3,103 | 101,437 | ||||||||||||
Apple Hospitality REIT, Inc. | 4,175 | 67,051 | ||||||||||||
Arbor Realty Trust, Inc.(b) | 3,303 | 43,930 | ||||||||||||
Blackstone Mortgage Trust, Inc. - Class A(b) | 3,353 | 66,188 | ||||||||||||
Broadstone Net Lease, Inc. | 3,772 | 60,616 | ||||||||||||
COPT Defense Properties | 2,302 | 54,235 | ||||||||||||
Cousins Properties, Inc. | 3,098 | 70,975 | ||||||||||||
Douglas Emmett, Inc. | 3,381 | 45,813 | ||||||||||||
EPR Properties | 1,517 | 67,157 | ||||||||||||
Equity Commonwealth | 2,140 | 40,895 | ||||||||||||
Essential Properties Realty Trust, Inc. | 3,303 | 82,278 | ||||||||||||
Four Corners Property Trust, Inc. | 1,760 | 41,202 | ||||||||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 2,345 | 55,788 | ||||||||||||
Highwoods Properties, Inc. | 2,139 | 49,133 | ||||||||||||
Independence Realty Trust, Inc. | 4,582 | 67,310 | ||||||||||||
Kilroy Realty Corp. | 2,387 | 85,359 | ||||||||||||
Kite Realty Group Trust | 4,529 | 96,920 | ||||||||||||
LXP Industrial Trust | 5,874 | 53,395 | ||||||||||||
Macerich Co. | 4,389 | 69,302 | ||||||||||||
National Health Investors, Inc. | 846 | 44,990 | ||||||||||||
National Storage Affiliates Trust | 1,671 | 62,412 |
The accompanying notes are an integral part of these financial statements.
127
STRIVE SMALL-CAP ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
REAL ESTATE INVESTMENT TRUSTS - 6.5% (Continued) | Shares | Value | ||||||||||||
Outfront Media, Inc. | 2,994 | $ | 38,982 | |||||||||||
Park Hotels & Resorts, Inc. | 4,130 | 62,280 | ||||||||||||
Phillips Edison & Co., Inc. | 2,401 | 83,339 | ||||||||||||
Physicians Realty Trust | 4,915 | 60,160 | ||||||||||||
PotlatchDeltic Corp. | 1,623 | 72,597 | ||||||||||||
Rayonier, Inc. | 3,014 | 91,324 | ||||||||||||
Rithm Capital Corp. | 9,900 | 105,930 | ||||||||||||
Ryman Hospitality Properties, Inc. | 1,162 | 127,704 | ||||||||||||
Sabra Health Care REIT, Inc. | 4,674 | 62,351 | ||||||||||||
SITE Centers Corp. | 3,639 | 48,471 | ||||||||||||
SL Green Realty Corp. | 1,320 | 59,334 | ||||||||||||
Tanger, Inc. | 2,132 | 57,351 | ||||||||||||
Terreno Realty Corp. | 1,755 | 104,826 | ||||||||||||
Vornado Realty Trust | 3,604 | 97,992 | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $2,334,347) | 2,399,027 | |||||||||||||
SHORT-TERM INVESTMENTS - 2.5% | ||||||||||||||
Investments Purchased with Proceeds from Securities Lending - 1.8% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 666,803 | 666,803 | ||||||||||||
Money Market Funds - 0.7% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 250,864 | 250,864 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $917,667) | 917,667 | |||||||||||||
TOTAL INVESTMENTS - 101.8% (Cost $35,533,237) | $ | 37,466,774 | ||||||||||||
Liabilities in Excess of Other Assets - (1.8)% | (663,889) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 36,802,885 |
Percentages are stated as a percent of net assets. | ||
PLC - Public Limited Company | ||
SA - Sociedad Anónima |
(a) | Non-income producing security. | |||||||
(b) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $624,756 which represented 1.7% of net assets. | |||||||
(c) | Represents less than 0.05% of net assets. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
128
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
ASSET-BACKED SECURITIES - 29.2% | Par | Value | ||||||||||||
ACHV ABS Trust | ||||||||||||||
Series 2023-1PL, Class C, 7.42%, 03/18/2030(a) | $ | 550,000 | $ | 554,825 | ||||||||||
Series 2023-2PL, Class C, 7.27%, 05/20/2030(a) | 425,000 | 428,742 | ||||||||||||
Series 2023-3PL, Class C, 7.35%, 08/19/2030(a) | 250,000 | 253,487 | ||||||||||||
Series 2023-4CP, Class B, 7.24%, 11/25/2030(a) | 350,000 | 354,223 | ||||||||||||
ACM Auto Trust, Series 2023-2A, Class A, 7.97%, 06/20/2030(a) | 234,767 | 236,968 | ||||||||||||
Affirm, Inc. | ||||||||||||||
Series 2023-B, Class A, 6.82%, 09/15/2028(a) | 300,000 | 307,702 | ||||||||||||
Series 2023-B, Class 1B, 7.44%, 09/15/2028(a) | 300,000 | 305,579 | ||||||||||||
Series 2023-X1, Class A, 7.11%, 11/15/2028(a) | 434,934 | 437,767 | ||||||||||||
American Credit Acceptance Receivables Trust | ||||||||||||||
Series 2022-1, Class D, 2.46%, 03/13/2028(a) | 145,000 | 140,449 | ||||||||||||
Series 2023-4, Class B, 6.63%, 02/14/2028(a) | 400,000 | 409,339 | ||||||||||||
Series 2024-1, Class B, 5.60%, 11/12/2027(a) | 800,000 | 803,573 | ||||||||||||
American Express Travel Related Services Co., Inc., Series 2021-1, Class A, 0.90%, 11/15/2026 | 525,000 | 508,160 | ||||||||||||
Aqua Finance Trust, Series 2017-A, Class B, 6.61%, 11/15/2035(a) | 200,000 | 200,221 | ||||||||||||
Atrium CDO Corp., Series 13A, Class A1, 6.76% (3 mo. Term SOFR + 1.44%), 11/21/2030(a)(b) | 423,322 | 423,480 | ||||||||||||
Avis Budget Car Rental LLC | ||||||||||||||
Series 2019-2A, Class C, 4.24%, 09/22/2025(a) | 300,000 | 297,701 | ||||||||||||
Series 2019-3A, Class A, 2.36%, 03/20/2026(a) | 418,000 | 407,513 | ||||||||||||
Series 2020-1A, Class A, 2.33%, 08/20/2026(a) | 500,000 | 481,296 | ||||||||||||
Series 2020-1A, Class B, 2.68%, 08/20/2026(a) | 345,000 | 330,242 | ||||||||||||
Capital One Financial Corp., Series 2021-A1, Class A1, 0.55%, 07/15/2026 | 833,000 | 815,941 | ||||||||||||
CarMax Auto Owner Trust, Series 2023-4, Class A2A, 6.08%, 12/15/2026 | 200,000 | 201,767 | ||||||||||||
Citibank N.A., Series 2017-A5, Class A5, 6.07% (1 mo. Term SOFR + 0.73%), 04/22/2026(b) | 475,000 | 476,193 | ||||||||||||
CPS Auto Trust | ||||||||||||||
Series 2019-C, Class F, 6.94%, 09/15/2026(a) | 500,000 | 501,175 | ||||||||||||
Series 2024-A, Class A, 5.71%, 09/15/2027(a) | 100,000 | 100,212 | ||||||||||||
Series 2024-A, Class B, 5.65%, 05/15/2028(a) | 100,000 | 100,592 | ||||||||||||
Exeter Automobile Receivables Trust | ||||||||||||||
Series 2023-1A, Class A3, 5.58%, 04/15/2026 | 840,000 | 840,970 | ||||||||||||
Series 2023-2A, Class C, 5.75%, 07/17/2028 | 500,000 | 504,525 | ||||||||||||
Flagship Credit Auto Trust, Series 2019-4, Class D, 3.12%, 01/15/2026(a) | 364,388 | 361,021 | ||||||||||||
FREED ABS Trust, Series 2021-3FP, Class D, 2.37%, 11/20/2028(a) | 200,000 | 194,098 | ||||||||||||
GLS Auto Receivables Trust, Series 2023-1A, Class B, 6.19%, 06/15/2027(a) | 100,000 | 99,971 | ||||||||||||
Hertz Global Holdings, Inc. | ||||||||||||||
Series 2021-1A, Class A, 1.21%, 12/26/2025(a) | $ | 300,000 | $ | 291,468 | ||||||||||
Series 2021-1A, Class B, 1.56%, 12/26/2025(a) | 300,000 | 290,850 | ||||||||||||
ASSET-BACKED SECURITIES - 29.2% (Continued) | Par | Value | ||||||||||||
LAD Auto Receivables Trust |
The accompanying notes are an integral part of these financial statements.
129
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
Series 2023-3A, Class A2, 6.09%, 06/15/2026(a) | 269,784 | 270,574 | ||||||||||||
Series 2023-3A, Class A3, 6.12%, 09/15/2027(a) | 385,000 | 389,083 | ||||||||||||
Lendbuzz Securitization Trust, Series 2021-1A, Class A, 1.46%, 06/15/2026(a) | 64,730 | 62,719 | ||||||||||||
Marlette Funding Trust | ||||||||||||||
Series 2021-3A, Class C, 1.81%, 12/15/2031(a) | 370,750 | 354,538 | ||||||||||||
Series 2022-3A, Class B, 5.95%, 11/15/2032(a) | 300,000 | 300,450 | ||||||||||||
Mercury Financial Credit Card Master Trust, Series 2023-1A, Class A, 8.04%, 09/20/2027(a) | 150,000 | 152,162 | ||||||||||||
Octane Receivables Trust, Series 2023-3A, Class A2, 6.44%, 03/20/2029(a) | 500,000 | 506,653 | ||||||||||||
Pagaya AI Debt Selection Trust | ||||||||||||||
Series 2020-3, Class C, 6.43%, 05/17/2027(a) | 66,435 | 66,458 | ||||||||||||
Series 2021-1, Class B, 2.13%, 11/15/2027(a) | 71,909 | 71,736 | ||||||||||||
Series 2021-HG1, Class B, 1.82%, 01/16/2029(a) | 127,180 | 122,186 | ||||||||||||
Series 2022-5, Class A, 8.10%, 06/17/2030(a) | 81,922 | 83,381 | ||||||||||||
Series 2023-1, Class A, 7.56%, 07/15/2030(a) | 161,830 | 162,971 | ||||||||||||
Series 2023-5, Class B, 7.63%, 04/15/2031(a) | 399,997 | 405,280 | ||||||||||||
Series 2024-1, Class B, 7.11%, 07/15/2031(a) | 400,000 | 404,000 | ||||||||||||
Series 2024-1, Class A, 6.66%, 07/15/2031(a) | 100,000 | 100,862 | ||||||||||||
Prestige Auto Receivables Trust | ||||||||||||||
Series 2023-2A, Class A2, 6.24%, 01/15/2027(a) | 400,000 | 406,174 | ||||||||||||
Series 2023-2A, Class B, 6.64%, 12/15/2027(a) | 400,000 | 416,497 | ||||||||||||
Series 2023-2A, Class C, 7.12%, 08/15/2029(a) | 200,000 | 207,811 | ||||||||||||
Progress Residential Trust, Series 2020-SFR1, Class A, 1.73%, 04/17/2037(a) | 497,772 | 477,184 | ||||||||||||
Prosper Marketplace Issuance Trust, Series 2023-1A, Class A, 7.06%, 07/16/2029(a) | 109,608 | 110,475 | ||||||||||||
PRPM LLC, Series 2024-RCF1, Class A1, 4.00%, 01/25/2054(a)(c) | 1,000,000 | 966,904 | ||||||||||||
Reach Financial LLC, Series 2024-1A, Class A, 6.30%, 02/18/2031(a) | 375,000 | 377,095 | ||||||||||||
Republic Finance Issuance Trust, Series 2020-A, Class A, 2.47%, 11/20/2030(a) | 128,359 | 126,936 | ||||||||||||
Research-Driven Pagaya Motor Asset Trust | ||||||||||||||
Series 2023-3A, Class A, 7.13%, 01/26/2032(a) | 196,405 | 198,426 | ||||||||||||
Series 2023-4A, Class A, 7.54%, 03/25/2032(a) | 200,000 | 202,481 | ||||||||||||
SAFCO Auto Receivables Trust, Series 2024-1A, Class A, 6.51%, 03/20/2028(a) | 100,000 | 100,197 | ||||||||||||
Santander Consumer USA Holdings, Inc. | ||||||||||||||
Series 2023-4, Class A2, 6.18%, 02/16/2027 | 420,425 | 422,178 | ||||||||||||
Series 2023-6, Class A2, 6.08%, 05/17/2027 | 350,000 | 351,955 | ||||||||||||
Series 2024-1, Class A2, 5.71%, 02/16/2027 | 200,000 | 200,439 | ||||||||||||
Theorem Funding Trust, Series 2023-1A, Class A, 7.58%, 04/15/2029(a) | 164,626 | 166,390 |
The accompanying notes are an integral part of these financial statements.
130
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
ASSET-BACKED SECURITIES - 29.2% (Continued) | Par | Value | ||||||||||||
Tricolor Auto Securitization Trust, Series 2021-1A, Class E, 3.23%, 09/15/2026(a) | $ | 267,963 | $ | 266,316 | ||||||||||
Upstart Pass-Through Trust Series, Series 2022-ST1, Class A, 2.60%, 03/20/2030(a) | 145,434 | 142,152 | ||||||||||||
Upstart Securitization Trust | ||||||||||||||
Series 2021-5, Class B, 2.49%, 11/20/2031(a) | 300,000 | 293,905 | ||||||||||||
Series 2022-2, Class B, 6.10%, 05/20/2032(a) | 400,000 | 397,506 | ||||||||||||
Series 2023-3, Class A, 6.90%, 10/20/2033(a) | 278,508 | 281,858 | ||||||||||||
Verizon Master Trust, Series 2023-5, Class A1B, 6.03% (30 day avg SOFR US + 0.68%), 09/08/2028(b) | 300,000 | 301,272 | ||||||||||||
Westlake Automobile Receivables Trust, Series 2023-P1, Class A2, 5.89%, 02/16/2027(a) | 135,000 | 135,879 | ||||||||||||
TOTAL ASSET-BACKED SECURITIES (Cost $21,464,255) | 21,663,133 | |||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 27.6% | ||||||||||||||
A&D Mortgage LLC | ||||||||||||||
Series 2023-NQM4, Class A1, 7.47%, 09/25/2068(a)(c) | 192,695 | 197,592 | ||||||||||||
Series 2023-NQM4, Class A3, 8.10%, 09/25/2068(a)(c) | 192,695 | 197,514 | ||||||||||||
Series 2023-NQM5, Class A3, 7.76%, 11/25/2068(a)(c) | 495,543 | 506,379 | ||||||||||||
COLT 2023-2 Mortgage Loan Trust, Series 2024-1, Class A1, 5.84%, 02/25/2069(a)(c) | 1,000,000 | 999,988 | ||||||||||||
Cross Mortgage Trust, Series 2023-H2, Class A1A, 7.14%, 11/25/2068(a)(c) | 489,864 | 499,263 | ||||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
Series K045, Class A2, 3.02%, 01/25/2025 | 1,144,490 | 1,122,290 | ||||||||||||
Series K047, Class A2, 3.33%, 05/25/2025(b) | 1,500,000 | 1,471,066 | ||||||||||||
Series K727, Class A2, 2.95%, 07/25/2024 | 1,025,014 | 1,014,527 | ||||||||||||
Series K731, Class A2, 3.60%, 02/25/2025(b) | 1,078,036 | 1,063,724 | ||||||||||||
Series K-F100, Class AS, 5.52% (30 day avg SOFR US + 0.18%), 01/25/2028(b) | 498,263 | 494,076 | ||||||||||||
Series K-F101, Class AS, 5.54% (30 day avg SOFR US + 0.20%), 01/25/2031(b) | 432,839 | 423,073 | ||||||||||||
Series K-F113, Class AS, 5.57% (30 day avg SOFR US + 0.23%), 05/25/2028(b) | 490,374 | 487,935 | ||||||||||||
Series K-F115, Class AS, 5.55% (30 day avg SOFR US + 0.21%), 06/25/2031(b) | 137,762 | 135,712 | ||||||||||||
Series K-F117, Class AS, 5.58% (30 day avg SOFR US + 0.24%), 06/25/2031(b) | 488,578 | 483,652 | ||||||||||||
Series KF129, Class AS, 5.59% (30 day avg SOFR US + 0.25%), 01/25/2029(b) | 484,759 | 478,044 | ||||||||||||
Series KF133, Class AS, 5.71% (30 day avg SOFR US + 0.37%), 02/25/2029(b) | 481,346 | 477,180 | ||||||||||||
Series KF160, Class AS, 6.04% (30 day avg SOFR US + 0.70%), 10/25/2030(b) | 670,163 | 671,121 | ||||||||||||
Series KF48, Class A, 5.75% (30 day avg SOFR US + 0.40%), 06/25/2028(b) | 1,101,531 | 1,094,723 |
The accompanying notes are an integral part of these financial statements.
131
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COLLATERALIZED MORTGAGE OBLIGATIONS - 27.6% (Continued) | Par | Value | ||||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
Series KF57, Class A, 6.00% (30 day avg SOFR US + 0.65%), 12/25/2028(b) | $ | 1,007,802 | $ | 1,011,357 | ||||||||||
Series KF59, Class A, 6.00% (30 day avg SOFR US + 0.65%), 02/25/2029(b) | 1,008,318 | 1,011,927 | ||||||||||||
Series KF75, Class AS, 5.90% (SOFR 1M Historical Calendar Day Compounded + 0.55%), 12/25/2029(b) | 398,667 | 398,176 | ||||||||||||
Series KF90, Class AS, 5.72% (30 day avg SOFR US + 0.38%), 09/25/2030(b) | 484,589 | 477,939 | ||||||||||||
Series KF96, Class AL, 5.72% (30 day avg SOFR US + 0.37%), 12/25/2030(b) | 1,006,844 | 995,480 | ||||||||||||
Series KF97, Class AS, 5.59% (30 day avg SOFR US + 0.25%), 12/25/2030(b) | 509,843 | 502,902 | ||||||||||||
Freddie Mac Structured Agency Credit Risk Debt Notes | ||||||||||||||
Series 2021-DNA7, Class M1, 6.19% (30 day avg SOFR US + 0.85%), 11/25/2041(a)(b) | 426,400 | 426,266 | ||||||||||||
Series 2022-DNA3, Class M1A, 7.34% (30 day avg SOFR US + 2.00%), 04/25/2042(a)(b) | 319,563 | 323,962 | ||||||||||||
Series 2022-DNA5, Class M1A, 8.29% (30 day avg SOFR US + 2.95%), 06/25/2042(a)(b) | 406,431 | 418,765 | ||||||||||||
GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A16, 6.50%, 04/25/2054(a)(b) | 486,138 | 494,741 | ||||||||||||
Home RE Ltd., Series 2023-1, Class M1A, 7.49% (30 day avg SOFR US + 2.15%), 10/25/2033(a)(b) | 500,000 | 502,845 | ||||||||||||
Onslow Bay Mortgage Loan Trust, Series 2024-NQM2, Class A1, 5.88%, 12/25/2063(a)(c) | 1,000,000 | 1,009,325 | ||||||||||||
PRKCM Trust, Series 2023-AFC4, Class A1, 7.23%, 11/25/2058(a)(c) | 485,997 | 499,116 | ||||||||||||
Sequoia Mortgage Trust, Series 2023-4, Class A10, 6.00%, 11/25/2053(a)(b) | 461,702 | 465,068 | ||||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $20,249,284) | 20,355,728 | |||||||||||||
CORPORATE BONDS - 25.0% | ||||||||||||||
Aerospace & Defense - 0.3% | ||||||||||||||
RTX Corp., 3.20%, 03/15/2024 | 200,000 | 199,288 | ||||||||||||
Auto-Cars/Light Trucks - 0.8% | ||||||||||||||
American Honda Finance Corp., 0.75%, 08/09/2024 | 100,000 | 97,708 | ||||||||||||
Ford Motor Credit Co. LLC, 4.06%, 11/01/2024 | 250,000 | 246,622 | ||||||||||||
General Motors Financial Co., Inc., 2.90%, 02/26/2025 | 250,000 | 243,798 | ||||||||||||
588,128 | ||||||||||||||
Banks - 2.6% | ||||||||||||||
Bank of America Corp., 4.00%, 04/01/2024 | 250,000 | 249,331 | ||||||||||||
Bank of Montreal, 2.50%, 06/28/2024 | 250,000 | 247,044 | ||||||||||||
HSBC USA, Inc., 3.75%, 05/24/2024 | 250,000 | 248,567 |
The accompanying notes are an integral part of these financial statements.
132
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 25.0% (Continued) | ||||||||||||||
Banks - 2.6% (continued) | ||||||||||||||
PNC Financial Services Group, Inc., 3.90%, 04/29/2024 | $ | 250,000 | $ | 248,891 | ||||||||||
Toronto-Dominion Bank, 3.25%, 03/11/2024 | 250,000 | 249,458 | ||||||||||||
Truist Financial Corp., 2.50%, 08/01/2024 | 500,000 | 492,721 | ||||||||||||
1,736,012 | ||||||||||||||
Biotechnology - 1.0% | ||||||||||||||
AbbVie, Inc., 3.85%, 06/15/2024 | 450,000 | 447,123 | ||||||||||||
Gilead Sciences, Inc., 3.70%, 04/01/2024 | 300,000 | 299,056 | ||||||||||||
746,179 | ||||||||||||||
Capital Markets - 1.4% | ||||||||||||||
Ares Capital Corp., 4.20%, 06/10/2024 | 500,000 | 496,889 | ||||||||||||
Goldman Sachs Group, Inc., 3.85%, 07/08/2024 | 250,000 | 248,254 | ||||||||||||
Morgan Stanley, 3.88%, 04/29/2024 | 250,000 | 248,953 | ||||||||||||
994,096 | ||||||||||||||
Chemicals - 1.0% | ||||||||||||||
Eastman Chemical Co., 3.80%, 03/15/2025 | 250,000 | 246,234 | ||||||||||||
Nutrien Ltd., 3.00%, 04/01/2025 | 250,000 | 243,688 | ||||||||||||
Sherwin-Williams Co., 4.05%, 08/08/2024 | 250,000 | 248,357 | ||||||||||||
738,279 | ||||||||||||||
Commer Banks Non-U.S. - 0.5% | ||||||||||||||
Credit Suisse AG/New York, 3.63%, 09/09/2024 | 400,000 | 395,376 | ||||||||||||
Computers - 0.3% | ||||||||||||||
Dell International LLC / EMC Corp., 4.00%, 07/15/2024 | 250,000 | 248,197 | ||||||||||||
Construction Materials - 0.3% | ||||||||||||||
Martin Marietta Materials, Inc., 4.25%, 07/02/2024 | 250,000 | 248,773 | ||||||||||||
Consumer Finance - 1.0% | ||||||||||||||
American Express Co., 2.50%, 07/30/2024 | 250,000 | 246,588 | ||||||||||||
Capital One Financial Corp., 3.30%, 10/30/2024 | 515,000 | 507,185 | ||||||||||||
753,773 | ||||||||||||||
Diversified Telecommunication Services - 0.9% | ||||||||||||||
AT&T, Inc., 0.90%, 03/25/2024 | 450,000 | 446,944 | ||||||||||||
Verizon Communications, Inc., 3.50%, 11/01/2024 | 207,000 | 203,749 | ||||||||||||
650,693 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
133
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 25.0% (Continued) | Par | Value | ||||||||||||
Electronic Equipment, Instruments & Components - 0.5% | ||||||||||||||
Amphenol Corp., 3.20%, 04/01/2024 | $ | 250,000 | $ | 249,219 | ||||||||||
Arrow Electronics, Inc., 3.25%, 09/08/2024 | 100,000 | 98,483 | ||||||||||||
347,702 | ||||||||||||||
Finance-Leasing Companies - 0.3% | ||||||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 2.88%, 08/14/2024 | 250,000 | 246,237 | ||||||||||||
Financial Services - 1.5% | ||||||||||||||
Enact Holdings, Inc., 6.50%, 08/15/2025(a) | 164,000 | 163,770 | ||||||||||||
Fiserv, Inc., 2.75%, 07/01/2024 | 350,000 | 345,928 | ||||||||||||
Global Payments, Inc., 2.65%, 02/15/2025 | 250,000 | 242,886 | ||||||||||||
Radian Group, Inc., 6.63%, 03/15/2025 | 300,000 | 301,589 | ||||||||||||
1,054,173 | ||||||||||||||
Food Products - 0.3% | ||||||||||||||
Conagra Brands, Inc., 4.30%, 05/01/2024 | 250,000 | 249,045 | ||||||||||||
Food-Confectionery - 0.3% | ||||||||||||||
Mondelez International Holdings Netherlands BV, 2.25%, 09/19/2024(a) | 250,000 | 244,959 | ||||||||||||
Gas Utilities - 0.4% | ||||||||||||||
ONE Gas, Inc., 1.10%, 03/11/2024 | 300,000 | 298,579 | ||||||||||||
Ground Transportation - 0.3% | ||||||||||||||
Ryder System, Inc., 2.50%, 09/01/2024 | 250,000 | 245,655 | ||||||||||||
Health Care Equipment & Supplies - 1.2% | ||||||||||||||
Becton Dickinson & Co., 3.36%, 06/06/2024 | 250,000 | 248,022 | ||||||||||||
GE HealthCare Technologies, Inc., 5.55%, 11/15/2024 | 250,000 | 250,314 | ||||||||||||
Zimmer Biomet Holdings, Inc., 1.45%, 11/22/2024 | 410,000 | 397,189 | ||||||||||||
895,525 | ||||||||||||||
Health Care Providers & Services - 0.3% | ||||||||||||||
Laboratory Corp. of America Holdings, 2.30%, 12/01/2024 | 200,000 | 195,160 | ||||||||||||
Household Durables - 0.3% | ||||||||||||||
Lennar Corp., 4.50%, 04/30/2024 | 250,000 | 249,196 | ||||||||||||
IT Services - 0.1% | ||||||||||||||
International Business Machines Corp., 3.63%, 02/12/2024 | 100,000 | 99,944 | ||||||||||||
Leisure Products - 0.5% | ||||||||||||||
Brunswick Corp., 0.85%, 08/18/2024 | 395,000 | 384,855 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
134
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 25.0% | Par | Value | ||||||||||||
Machinery - 0.3% | ||||||||||||||
Parker-Hannifin Corp., 3.65%, 06/15/2024 | $ | 250,000 | $ | 248,199 | ||||||||||
Media - 0.3% | ||||||||||||||
Comcast Corp., 3.70%, 04/15/2024 | 200,000 | 199,306 | ||||||||||||
Metals & Mining - 0.5% | ||||||||||||||
Freeport-McMoRan, Inc., 4.55%, 11/14/2024 | 350,000 | 347,165 | ||||||||||||
Oil, Gas & Consumable Fuels - 4.6% | ||||||||||||||
Continental Resources, Inc., 3.80%, 06/01/2024 | 250,000 | 248,217 | ||||||||||||
Energy Transfer LP, 3.90%, 05/15/2024 | 500,000 | 497,513 | ||||||||||||
EQT Corp., 6.13%, 02/01/2025 | 250,000 | 250,984 | ||||||||||||
Kinder Morgan Energy Partners LP, 4.30%, 05/01/2024 | 250,000 | 249,272 | ||||||||||||
Marathon Petroleum Corp., 3.63%, 09/15/2024 | 100,000 | 98,802 | ||||||||||||
MPLX LP, 4.88%, 12/01/2024 | 250,000 | 249,115 | ||||||||||||
Occidental Petroleum Corp., 6.95%, 07/01/2024 | 500,000 | 502,657 | ||||||||||||
Spectra Energy Partners LP, 4.75%, 03/15/2024 | 300,000 | 299,668 | ||||||||||||
TransCanada PipeLines Ltd., 1.00%, 10/12/2024 | 250,000 | 242,412 | ||||||||||||
Western Midstream Operating LP, 3.10%, 02/01/2025 | 250,000 | 243,889 | ||||||||||||
Williams Cos., Inc., 4.55%, 06/24/2024 | 500,000 | 497,851 | ||||||||||||
3,380,380 | ||||||||||||||
Pipelines - 1.3% | ||||||||||||||
Cheniere Corpus Christi Holdings LLC, 5.88%, 03/31/2025 | 250,000 | 250,732 | ||||||||||||
Plains All American Pipeline LP / PAA Finance Corp., 3.60%, 11/01/2024 | 250,000 | 246,288 | ||||||||||||
Sabine Pass Liquefaction LLC, 5.75%, 05/15/2024 | 450,000 | 449,832 | ||||||||||||
946,852 | ||||||||||||||
REITS-Regional Malls - 0.3% | ||||||||||||||
Simon Property Group LP, 3.75%, 02/01/2024 | 250,000 | 250,000 | ||||||||||||
Specialized REITs - 0.3% | ||||||||||||||
American Tower Corp., 2.95%, 01/15/2025 | 250,000 | 244,492 | ||||||||||||
Specialty Retail - 0.3% | ||||||||||||||
AutoNation, Inc., 3.50%, 11/15/2024 | 250,000 | 245,318 | ||||||||||||
Trading Companies & Distributors - 0.6% | ||||||||||||||
GATX Corp., 3.25%, 03/30/2025 | 450,000 | 438,747 | ||||||||||||
Trucking & Leasing - 0.1% | ||||||||||||||
Penske Truck Leasing Co. Lp / PTL Finance Corp., 3.90%, 02/01/2024(a) | 100,000 | 100,000 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
135
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 25.0% (continued) | Par | Value | ||||||||||||
Wireless Telecommunication Services - 0.3% | ||||||||||||||
Sprint LLC, 7.63%, 02/15/2025 | $ | 250,000 | $ | 254,409 | ||||||||||
TOTAL CORPORATE BONDS (Cost $18,415,895) | 18,464,692 | |||||||||||||
COLLATERALIZED LOAN OBLIGATIONS - 9.4% | ||||||||||||||
Apidos CLO | ||||||||||||||
Series 2015-20A, Class A1RA, 6.68% (3 mo. Term SOFR + 1.36%), 07/16/2031(a)(b) | 523,884 | 522,798 | ||||||||||||
Series XXXA, Class A1A, 6.70% (3 mo. Term SOFR + 1.40%), 10/18/2031(a)(b) | 497,672 | 498,650 | ||||||||||||
Barings Middle Market CLO Ltd., Series 2019-IA, Class A1A, 7.33% (3 mo. Term SOFR + 2.01%), 10/15/2031(a)(b) | 374,154 | 374,099 | ||||||||||||
Blackstone, Inc., Series 2018-1A, Class A2, 6.59% (3 mo. Term SOFR + 1.27%), 04/15/2031(a)(b) | 405,446 | 406,221 | ||||||||||||
Cerberus Onshore CLO LLC, Series 2020-1A, Class A, 7.43% (3 mo. Term SOFR + 2.11%), 10/15/2031(a)(b) | 147,842 | 147,870 | ||||||||||||
CIFC Funding Ltd., Series 2014-5A, Class A1R2, 6.78% (3 mo. Term SOFR + 1.46%), 10/17/2031(a)(b) | 550,000 | 549,354 | ||||||||||||
Gallatin CLO Ltd., Series 2017-1A, Class A1R, 0.00% (3 mo. Term SOFR + 1.35%), 07/15/2031(a)(b) | 439,491 | 439,931 | ||||||||||||
Golub Capital Partners CLO Ltd. | ||||||||||||||
Series 2013-17A, Class A1R, 7.24% (3 mo. Term SOFR + 1.91%), 10/25/2030(a)(b) | 321,357 | 322,061 | ||||||||||||
Series 2014-21A, Class AR, 7.06% (3 mo. Term SOFR + 1.73%), 01/25/2031(a)(b) | 929,820 | 928,628 | ||||||||||||
LCM XIII LP, Series 14A, Class AR, 6.62% (3 mo. Term SOFR + 1.30%), 07/20/2031(a)(b) | 422,917 | 422,419 | ||||||||||||
Magnetite CLO Ltd., Series 2016-17A, Class AR, 6.68% (3 mo. Term SOFR + 1.36%), 07/20/2031(a)(b) | 538,442 | 537,566 | ||||||||||||
Neuberger Berman CLO Ltd., Series 2017-26A, Class AR, 6.48% (3 mo. Term SOFR + 1.18%), 10/18/2030(a)(b) | 469,975 | 468,664 | ||||||||||||
Palmer Square CLO Ltd., Series 2018-1A, Class A1, 6.59% (3 mo. Term SOFR + 1.29%), 04/18/2031(a)(b) | 353,963 | 354,540 | ||||||||||||
THL Credit Lake Shore MM CLO Ltd., Series 2021-1A, Class X, 6.76% (3 mo. Term SOFR + 1.44%), 10/15/2033(a)(b) | 933,333 | 932,360 | ||||||||||||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $6,894,052) | 6,905,161 | |||||||||||||
U.S. TREASURY OBLIGATIONS - 2.4% | ||||||||||||||
United States Treasury Note/Bond | ||||||||||||||
4.25%, 12/31/2024 | 500,000 | 497,600 | ||||||||||||
1.50%, 02/15/2025 | 800,000 | 774,321 | ||||||||||||
2.75%, 05/15/2025 | 500,000 | 489,150 | ||||||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,751,598) | 1,761,071 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
136
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 8.8% | Shares | V | Value | |||||||||||
Money Market Funds - 3.5% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 2,560,895 | 2,560,895 | ||||||||||||
U.S. Treasury Bills - 5.3% | ||||||||||||||
5.25%, 03/19/2024(e) | $ | 1,000,000 | $ | 1,000,000 | $ | 993,224 | ||||||||
5.24%, 05/16/2024(e) | 1,000,000 | 984,911 | ||||||||||||
5.21%, 06/06/2024(e) | 1,000,000 | 982,054 | ||||||||||||
5.18%, 07/11/2024(e) | 1,000,000 | 977,679 | ||||||||||||
3,937,868 | ||||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $6,498,591) | 6,498,763 | |||||||||||||
TOTAL INVESTMENTS - 102.4% (Cost $75,273,675) | $ | 75,648,548 | ||||||||||||
Liabilities in Excess of Other Assets - (2.4)% | (1,808,401) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 73,840,147 |
Percentages are stated as a percent of net assets. |
SOFR - Secured Overnight Financing Rate |
(a) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of January 31, 2024, the value of these securities total $30,994,447 or 42.0% of the Fund’s net assets. | |||||||
(b) | Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of January 31, 2024. | |||||||
(c) | Step coupon bond. The rate disclosed is as of January 31, 2024. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. | |||||||
(e) | The rate shown is the effective yield as of January, 31 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
STRIVE ENHANCED INCOME SHORT MATURITY ETF | ||||||||||||||||||||||||||
SCHEDULE OF OPEN FUTURES CONTRACTS | ||||||||||||||||||||||||||
January 31, 2024 (Unaudited) | ||||||||||||||||||||||||||
Description | Contracts Purchased | Expiration Date | Notional | Value / Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
U.S. Treasury 2 Year Notes | 24 | March 28, 2024 | $ | 4,935,750 | $ | 48,103 | ||||||||||||||||||||
Total Unrealized Appreciation (Depreciation) | $ | 48,103 |
The accompanying notes are an integral part of these financial statements.
137
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
MORTGAGE-BACKED SECURITIES - 46.8% | Par | Value | ||||||||||||
Federal Home Loan Mortgage Corp. | ||||||||||||||
Pool SD1961, 5.50%, 12/01/2052 | $ | 408,330 | $ | 409,523 | ||||||||||
Pool SD8256, 4.00%, 10/01/2052 | 2,062,970 | 1,941,437 | ||||||||||||
Pool SD8325, 6.00%, 05/01/2053 | 1,117,929 | 1,133,599 | ||||||||||||
Pool SD8384, 6.00%, 12/01/2053 | 985,610 | 999,425 | ||||||||||||
Federal National Mortgage Association | ||||||||||||||
Pool FS4932, 6.00%, 06/01/2053 | 837,710 | 851,022 | ||||||||||||
Pool MA4919, 5.50%, 02/01/2053 | 1,012,116 | 1,015,075 | ||||||||||||
Pool MA4941, 5.50%, 03/01/2053 | 968,882 | 971,714 | ||||||||||||
Pool MA5039, 5.50%, 06/01/2053 | 1,042,363 | 1,045,410 | ||||||||||||
Pool MA5109, 6.50%, 08/01/2053 | 422,689 | 432,676 | ||||||||||||
Pool MA5165, 5.50%, 10/01/2053 | 974,882 | 977,732 | ||||||||||||
Ginnie Mae II Pool | ||||||||||||||
Pool MA8491, 5.50%, 12/20/2052 | 1,589,683 | 1,600,541 | ||||||||||||
Pool MA8493, 6.50%, 12/20/2052 | 197,026 | 201,435 | ||||||||||||
Pool MA8570, 5.50%, 01/20/2053 | 947,181 | 953,650 | ||||||||||||
Pool MA8571, 6.00%, 01/20/2053 | 1,328,693 | 1,348,616 | ||||||||||||
Pool MA8647, 5.00%, 02/20/2053 | 957,237 | 950,837 | ||||||||||||
Pool MA8649, 6.00%, 02/20/2053 | 537,095 | 545,820 | ||||||||||||
Pool MA8725, 5.00%, 03/20/2053 | 482,284 | 479,059 | ||||||||||||
Pool MA8726, 5.50%, 03/20/2053 | 853,778 | 859,609 | ||||||||||||
Pool MA8727, 6.00%, 03/20/2053 | 1,545,113 | 1,568,281 | ||||||||||||
Pool MA8800, 5.00%, 04/20/2053 | 485,507 | 482,261 | ||||||||||||
Pool MA8801, 5.50%, 04/20/2053 | 1,063,408 | 1,072,001 | ||||||||||||
Pool MA8877, 4.50%, 05/20/2053 | 1,470,421 | 1,431,699 | ||||||||||||
Pool MA8878, 5.00%, 05/20/2053 | 598,244 | 594,244 | ||||||||||||
Pool MA8879, 5.50%, 05/20/2053 | 1,026,560 | 1,033,571 | ||||||||||||
Pool MA8880, 6.00%, 05/20/2053 | 968,729 | 983,254 | ||||||||||||
Pool MA8948, 5.50%, 06/20/2053 | 981,770 | 988,475 | ||||||||||||
Pool MA8949, 6.00%, 06/20/2053 | 1,162,685 | 1,183,025 | ||||||||||||
Pool MA9016, 5.00%, 07/20/2053 | 1,208,810 | 1,200,728 | ||||||||||||
Pool MA9017, 5.50%, 07/20/2053 | 788,882 | 794,270 | ||||||||||||
Pool MA9018, 6.00%, 07/20/2053 | 491,781 | 499,155 | ||||||||||||
Pool MA9105, 5.00%, 08/20/2053 | 1,979,331 | 1,966,096 | ||||||||||||
Pool MA9106, 5.50%, 08/20/2053 | 988,671 | 995,424 | ||||||||||||
Pool MA9166, 3.00%, 09/20/2053 | 196,343 | 176,631 | ||||||||||||
Pool MA9171, 5.50%, 09/20/2053 | 991,622 | 998,394 | ||||||||||||
Pool MA9305, 5.50%, 11/20/2053 | 896,785 | 902,911 | ||||||||||||
TOTAL MORTGAGE-BACKED SECURITIES (Cost $33,038,204) | 33,587,600 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
138
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
ASSET-BACKED SECURITIES - 16.3% | Par | Value | ||||||||||||
ACHV ABS Trust | ||||||||||||||
Series 2023-3PL, Class D, 8.36%, 08/19/2030 (a) | $ | 400,000 | $ | 414,826 | ||||||||||
Series 2023-4CP, Class D, 8.60%, 11/25/2030 (a) | 350,000 | 359,357 | ||||||||||||
Series 2023-4CP, Class C, 7.71%, 11/25/2030 (a) | 200,000 | 203,967 | ||||||||||||
Affirm, Inc. | ||||||||||||||
Series 2023-B, Class C, 7.81%, 09/15/2028 (a) | 300,000 | 307,335 | ||||||||||||
Series 2023-B, Class 1C, 7.81%, 09/15/2028 (a) | 300,000 | 306,879 | ||||||||||||
Series 2023-X1, Class C, 8.25%, 11/15/2028 (a) | 250,000 | 256,037 | ||||||||||||
Avis Budget Car Rental LLC | ||||||||||||||
Series 2023-8A, Class C, 7.34%, 02/20/2030 (a) | 300,000 | 306,794 | ||||||||||||
Series 2024-1A, Class C, 6.48%, 06/20/2030 (a) | 200,000 | 202,800 | ||||||||||||
AVIS BUDGET FDG LLC 2023-1 C 20290420 8.70000, 8.70%, 04/20/2029 (a) | 300,000 | 302,941 | ||||||||||||
Carvana Auto Receivables Trust | ||||||||||||||
Series 2022-P3, Class D, 6.49%, 09/10/2029 | 237,000 | 244,059 | ||||||||||||
Series 2023-P3, Class D, 6.82%, 08/12/2030 (a) | 233,000 | 243,614 | ||||||||||||
COLT Funding LLC, Series 2022-4, Class A2, 4.50%, 03/25/2067 (a)(b) | 505,923 | 480,947 | ||||||||||||
CPS Auto Trust, Series 2021-D, Class E, 4.06%, 12/15/2028 (a) | 500,000 | 472,170 | ||||||||||||
Ellington Financial Mortgage Trust, Series 2021-2, Class M1, 2.30%, 06/25/2066 (a)(b) | 885,000 | 585,720 | ||||||||||||
Exeter Automobile Receivables Trust, Series 2023-4A, Class D, 6.95%, 12/17/2029 | 600,000 | 623,931 | ||||||||||||
FREED ABS Trust | ||||||||||||||
Series 2021-3FP, Class D, 2.37%, 11/20/2028 (a) | 300,000 | 291,147 | ||||||||||||
Series 2022-4FP, Class D, 7.40%, 12/18/2029 (a) | 350,000 | 351,862 | ||||||||||||
GCAT, Series 2021-NQM4, Class A3, 1.56%, 08/25/2066 (a)(b) | 1,247,562 | 997,616 | ||||||||||||
Helios Issuer LLC, Series 2021-B, Class A, 1.62%, 07/20/2048 (a) | 81,262 | 69,580 | ||||||||||||
Hertz Vehicle Financing LLC, Series 2023-4A, Class C, 7.51%, 03/25/2030 (a) | 500,000 | 518,949 | ||||||||||||
LAD Auto Receivables Trust, Series 2023-3A, Class D, 6.92%, 12/16/2030 (a) | 500,000 | 518,222 | ||||||||||||
Marlette Funding Trust, Series 2023-2A, Class D, 7.92%, 06/15/2033 (a) | 400,000 | 410,664 | ||||||||||||
MFRA Trust, Series 2021-NQM2, Class A3, 1.47%, 11/25/2064 (a)(b) | 465,297 | 395,897 | ||||||||||||
Pagaya AI Debt Selection Trust | ||||||||||||||
Series 2022-1, Class B, 3.34%, 10/15/2029 (a) | 199,974 | 194,023 | ||||||||||||
Series 2024-1, Class C, 8.34%, 07/15/2031 (a) | 500,000 | 507,185 | ||||||||||||
Series 2024-1, Class B, 7.11%, 07/15/2031 (a) | 100,000 | 101,000 | ||||||||||||
Prosper Marketplace Issuance Trust | ||||||||||||||
Series 2023-1A, Class B, 7.48%, 07/16/2029 (a) | 250,000 | 255,361 | ||||||||||||
Series 2023-1A, Class C, 8.29%, 07/16/2029 (a) | 200,000 | 205,793 | ||||||||||||
PRPM LLC, Series 2022-NQM1, Class A3, 5.50%, 08/25/2067 (a)(c) | 310,982 | 309,324 | ||||||||||||
Saluda Grade Mortgage Funding LLC, Series 2023-FIG4, Class A, 6.72%, 11/25/2053 (a)(b) | 490,501 | 505,298 |
The accompanying notes are an integral part of these financial statements.
139
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
ASSET-BACKED SECURITIES - 16.3% (Continued) | Par | Value | ||||||||||||
Sunnova Energy International, Inc., Series 2023-B, Class A, 5.30%, 08/22/2050 (a) | $ | 97,360 | $ | 95,911 | ||||||||||
Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 (a) | 200,000 | 208,078 | ||||||||||||
Veros Automobile Receivables Trust, Series 2021-1, Class C, 3.64%, 08/15/2028 (a) | 500,000 | 483,666 | ||||||||||||
TOTAL ASSET-BACKED SECURITIES (Cost $11,451,636) | 11,730,953 | |||||||||||||
U.S. TREASURY OBLIGATIONS - 14.5% | ||||||||||||||
United States Treasury Note/Bond | ||||||||||||||
3.13%, 08/15/2025 | 1,775,000 | 1,741,857 | ||||||||||||
4.63%, 11/15/2026 | 1,350,000 | 1,370,355 | ||||||||||||
4.13%, 10/31/2027 | 1,850,000 | 1,860,985 | ||||||||||||
3.50%, 04/30/2030 | 1,000,000 | 976,602 | ||||||||||||
4.13%, 08/31/2030 | 600,000 | 606,680 | ||||||||||||
4.13%, 11/15/2032 | 550,000 | 556,735 | ||||||||||||
3.50%, 02/15/2033 | 400,000 | 385,992 | ||||||||||||
4.50%, 05/15/2038 | 1,000,000 | 1,047,832 | ||||||||||||
3.50%, 02/15/2039 | 900,000 | 839,514 | ||||||||||||
2.50%, 02/15/2045 | 660,000 | 491,068 | ||||||||||||
1.88%, 11/15/2051 | 780,000 | 476,181 | ||||||||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $10,151,785) | 10,353,801 | |||||||||||||
CORPORATE BONDS - 9.0% | ||||||||||||||
Aerospace & Defense - 0.3% | ||||||||||||||
Boeing Co., 3.60%, 05/01/2034 | 100,000 | 86,336 | ||||||||||||
RTX Corp., 6.10%, 03/15/2034 | 100,000 | 108,591 | ||||||||||||
194,927 | ||||||||||||||
Agricultural Operations - 0.2% | ||||||||||||||
Bunge Ltd. Finance Corp., 2.75%, 05/14/2031 | 200,000 | 173,295 | ||||||||||||
Banks - 1.2% | ||||||||||||||
Bank of America Corp., 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036 | 250,000 | 200,514 | ||||||||||||
JPMorgan Chase & Co., 6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034 | 300,000 | 324,955 | ||||||||||||
Wells Fargo & Co., 5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034 | 300,000 | 305,976 | ||||||||||||
831,445 | ||||||||||||||
Beverages - 0.6% | ||||||||||||||
Constellation Brands, Inc., 4.90%, 05/01/2033 | 150,000 | 148,911 | ||||||||||||
Keurig Dr Pepper, Inc., 4.05%, 04/15/2032 | 200,000 | 189,751 | ||||||||||||
Molson Coors Beverage Co., 4.20%, 07/15/2046 | 100,000 | 84,659 | ||||||||||||
423,321 |
The accompanying notes are an integral part of these financial statements.
140
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 9.0% (Continued) | Par | Value | ||||||||||||
Capital Markets - 0.7% | ||||||||||||||
Goldman Sachs Group, Inc., 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033 | $ | 200,000 | $ | 172,224 | ||||||||||
Morgan Stanley, 5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038 | 300,000 | 306,182 | ||||||||||||
478,406 | ||||||||||||||
Cellular Telecom - 0.2% | ||||||||||||||
T-Mobile USA, Inc., 5.05%, 07/15/2033 | 150,000 | 150,054 | ||||||||||||
Chemicals - 0.2% | ||||||||||||||
Nutrien Ltd., 2.95%, 05/13/2030 | 150,000 | 135,098 | ||||||||||||
Computers - 0.1% | ||||||||||||||
Dell International LLC / EMC Corp., 5.75%, 02/01/2033 | 100,000 | 104,952 | ||||||||||||
Construction & Engineering - 0.2% | ||||||||||||||
MasTec, Inc., 4.50%, 08/15/2028 (a) | 150,000 | 140,992 | ||||||||||||
Construction Machinery - 0.3% | ||||||||||||||
Ashtead Capital, Inc., 5.95%, 10/15/2033 (a) | 200,000 | 203,579 | ||||||||||||
Consumer Finance - 0.4% | ||||||||||||||
American Express Co., 5.04% to 05/01/2033 then SOFR + 1.84%, 05/01/2034 | 100,000 | 100,039 | ||||||||||||
Capital One Financial Corp., 5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034 | 200,000 | 199,267 | ||||||||||||
299,306 | ||||||||||||||
Finance-Investment Banker/Broker - 0.3% | ||||||||||||||
LPL Holdings, Inc., 4.00%, 03/15/2029 (a) | 200,000 | 184,519 | ||||||||||||
Finance-Leasing Company - 0.4% | ||||||||||||||
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.00%, 10/29/2028 | 250,000 | 226,645 | ||||||||||||
Financial Services - 0.4% | ||||||||||||||
Fiserv, Inc., 5.63%, 08/21/2033 | 150,000 | 156,146 | ||||||||||||
Global Payments, Inc., 5.40%, 08/15/2032 | 150,000 | 151,590 | ||||||||||||
307,736 | ||||||||||||||
The accompanying notes are an integral part of these financial statements.
141
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 9.0% (Continued) | Par | Value | ||||||||||||
Food - Meat products - 0.1% | ||||||||||||||
JBS USA LUX S.A. / JBS USA Food Co. / JBS Luxembourg SARL, 6.75%, 03/15/2034 (a) | $ | 100,000 | $ | 105,315 | ||||||||||
Food Products - 0.3% | ||||||||||||||
J M Smucker Co., 6.20%, 11/15/2033 | 200,000 | 216,350 | ||||||||||||
Ground Transportation - 0.2% | ||||||||||||||
CSX Corp., 6.15%, 05/01/2037 | 100,000 | 111,244 | ||||||||||||
Health Care Equipment & Supplies - 0.6% | ||||||||||||||
Baxter International, Inc., 2.54%, 02/01/2032 | 100,000 | 83,429 | ||||||||||||
GE HealthCare Technologies, Inc., 5.91%, 11/22/2032 | 150,000 | 158,463 | ||||||||||||
Zimmer Biomet Holdings, Inc., 2.60%, 11/24/2031 | 200,000 | 171,205 | ||||||||||||
413,097 | ||||||||||||||
Household Durables - 0.1% | ||||||||||||||
NVR, Inc., 3.00%, 05/15/2030 | 100,000 | 89,545 | ||||||||||||
Insurance - 0.2% | ||||||||||||||
MetLife, Inc., 6.50%, 12/15/2032 | 100,000 | 111,968 | ||||||||||||
Metals & Mining - 0.2% | ||||||||||||||
Freeport-McMoRan, Inc., 5.40%, 11/14/2034 | 100,000 | 99,993 | ||||||||||||
Teck Resources Ltd., 3.90%, 07/15/2030 | 100,000 | 93,061 | ||||||||||||
193,054 | ||||||||||||||
Oil & Gas Drilling - 0.1% | ||||||||||||||
Shelf Drilling Holdings Ltd., 9.63%, 04/15/2029 (a) | 100,000 | 97,167 | ||||||||||||
Oil, Gas & Consumable Fuels - 1.1% | ||||||||||||||
Continental Resources, Inc., 5.75%, 01/15/2031 (a) | 100,000 | 99,518 | ||||||||||||
Energy Transfer LP, 7.38%, 02/01/2031 (a) | 100,000 | 105,182 | ||||||||||||
Greenfire Resources Ltd., 12.00%, 10/01/2028 (a) | 50,000 | 51,854 | ||||||||||||
Hess Corp., 7.13%, 03/15/2033 | 100,000 | 115,849 | ||||||||||||
MPLX LP, 5.00%, 03/01/2033 | 100,000 | 97,676 | ||||||||||||
ONEOK, Inc., 6.05%, 09/01/2033 | 100,000 | 104,938 | ||||||||||||
Western Midstream Operating LP, 6.15%, 04/01/2033 | 100,000 | 103,482 | ||||||||||||
Williams Cos., Inc., 5.65%, 03/15/2033 | 100,000 | 104,039 | ||||||||||||
782,538 | ||||||||||||||
Software - 0.1% | ||||||||||||||
VMware LLC, 2.20%, 08/15/2031 | 100,000 | 82,479 | ||||||||||||
The accompanying notes are an integral part of these financial statements.
142
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
CORPORATE BONDS - 9.0% (Continued) | Par | Value | ||||||||||||
Specialized REITs - 0.4% | ||||||||||||||
American Tower Corp., 5.55%, 07/15/2033 | $ | 150,000 | $ | 154,020 | ||||||||||
Crown Castle, Inc., 5.10%, 05/01/2033 | 100,000 | 98,757 | ||||||||||||
252,777 | ||||||||||||||
Lowe's Cos., Inc., 5.15%, 07/01/2033 | 100,000 | 102,133 | ||||||||||||
TOTAL CORPORATE BONDS (Cost $6,136,914) | 6,411,942 | |||||||||||||
COLLATERALIZED LOAN OBLIGATIONS - 4.9% | ||||||||||||||
Apidos CLO, Series 2022-42A, Class C, 9.22% (3 mo. Term SOFR + 3.90%), 01/20/2036 (a)(b) | 475,000 | 484,366 | ||||||||||||
ARES CLO, Series 2020-57A, Class BR, 7.24% (3 mo. Term SOFR + 1.91%), 01/25/2035 (a)(b) | 1,050,000 | 1,049,502 | ||||||||||||
Black Diamond CLO Ltd., Series 2022-1A, Class B, 8.17% (3 mo. Term SOFR + 2.85%), 10/25/2035 (a)(b) | 150,000 | 151,562 | ||||||||||||
Halsey Point CLO Ltd., Series 2023-7A, Class D, 0.00% (3 mo. Term SOFR + 5.84%), 07/20/2036 (a)(b) | 350,000 | 361,375 | ||||||||||||
Magnetite Xxix Ltd., Series 2021-29A, Class B, 6.98% (3 mo. Term SOFR + 1.66%), 01/15/2034 (a)(b) | 1,000,000 | 992,687 | ||||||||||||
Symphony CLO Ltd., Series 2022-37A, Class B1R, 7.76% (3 mo. Term SOFR + 2.40%), 01/20/2037 (a)(b) | 450,000 | 452,402 | ||||||||||||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $3,461,728) | 3,491,894 | |||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS - 4.3% | ||||||||||||||
A&D Mortgage LLC | ||||||||||||||
Series 2023-NQM4, Class A1, 7.47%, 09/25/2068 (a)(c) | 96,348 | 98,796 | ||||||||||||
Series 2023-NQM4, Class A3, 8.10%, 09/25/2068 (a)(c) | 96,348 | 98,757 | ||||||||||||
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2023-HQA2, Class M1B, 8.69% (30 day avg SOFR US + 3.35%), 06/25/2043 (a)(b) | 500,000 | 526,908 | ||||||||||||
GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, 6.00%, 01/25/2054 (a)(b) | 463,686 | 468,668 | ||||||||||||
Onslow Bay Mortgage Loan Trust, Series 2021-NQM2, Class A3, 1.56%, 05/25/2061 (a)(b) | 652,660 | 516,294 | ||||||||||||
SGR Residential Mortgage Trust | ||||||||||||||
Series 2020-2, Class A1, 1.38%, 05/25/2065 (a)(b) | 467,500 | 416,532 | ||||||||||||
Series 2021-1, Class M1, 2.50%, 07/25/2061 (a)(b) | $ | 744,000 | $ | 462,566 | ||||||||||
Western Mortgage Reference Notes, Series 2021-CL2, Class M3, 9.44% (30 day avg SOFR US + 4.10%), 07/25/2059 (a)(b) | 481,073 | 483,709 | ||||||||||||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $3,011,564) | 3,072,230 | |||||||||||||
The accompanying notes are an integral part of these financial statements.
143
STRIVE TOTAL RETURN BOND ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
SHORT-TERM INVESTMENTS - 7.7% | Shares | Value | ||||||||||||
Money Market Funds - 7.7% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(d) | 5,500,078 | $ | 5,500,078 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $5,500,078) | 5,500,078 | |||||||||||||
TOTAL INVESTMENTS - 103.5% (Cost $72,751,909) | $ | 74,148,498 | ||||||||||||
Liabilities in Excess of Other Assets - (3.5)% | (2,536,560) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 71,611,938 |
Percentages are stated as a percent of net assets. | ||||||||||||||
SOFR - Secured Overnight Financing Rate |
(a) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of January 31, 2024, the value of these securities total $18,415,213 or 25.7% of the Fund’s net assets. | |||||||
(b) | Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of January 31, 2024. | |||||||
(c) | Step coupon bond. The rate disclosed is as of January 31, 2024. | |||||||
(d) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
STRIVE TOTAL RETURN BOND ETF | ||||||||||||||||||||||||||
SCHEDULE OF OPEN FUTURES CONTRACTS | ||||||||||||||||||||||||||
January 31, 2024 (Unaudited) | ||||||||||||||||||||||||||
Description | Contracts Purchased | Expiration Date | Notional | Value / Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||
U.S. Treasury 10 Year Notes | 174 | March 19, 2024 | 19,545,094 | $ | 292,099 | |||||||||||||||||||||
U.S. Treasury 5 Year Note | 56 | March 28, 2024 | 6,069,875 | 122,310 | ||||||||||||||||||||||
U.S. Treasury Long Bonds | 19 | March 19, 2024 | 2,324,531 | 141,543 | ||||||||||||||||||||||
Total Unrealized Appreciation (Depreciation) | $ | 555,952 |
The accompanying notes are an integral part of these financial statements.
144
STRIVE FAANG 2.0 ETF | ||
SCHEDULE OF INVESTMENTS | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.5% | Shares | Value | ||||||||||||
Aerospace & Defense - 22.1% | ||||||||||||||
Boeing Co.(a) | 791 | $ | 166,933 | |||||||||||
BWX Technologies, Inc. | 996 | 81,154 | ||||||||||||
General Dynamics Corp. | 312 | 82,677 | ||||||||||||
HEICO Corp. | 53 | 9,518 | ||||||||||||
HEICO Corp. - Class A | 94 | 13,298 | ||||||||||||
Howmet Aerospace, Inc. | 510 | 28,693 | ||||||||||||
L3Harris Technologies, Inc. | 245 | 51,063 | ||||||||||||
Lockheed Martin Corp. | 325 | 139,558 | ||||||||||||
Northrop Grumman Corp. | 177 | 79,077 | ||||||||||||
RTX Corp. | 1,910 | 174,039 | ||||||||||||
Textron, Inc. | 257 | 21,770 | ||||||||||||
TransDigm Group, Inc. | 69 | 75,395 | ||||||||||||
923,175 | ||||||||||||||
Agricultural & Farm Machinery - 10.8% | ||||||||||||||
AGCO Corp. | 230 | 28,136 | ||||||||||||
Deere & Co. | 987 | 388,463 | ||||||||||||
Toro Co. | 383 | 35,420 | ||||||||||||
452,019 | ||||||||||||||
Agricultural Products & Services - 1.2% | ||||||||||||||
Darling Ingredients, Inc.(a) | 587 | 25,417 | ||||||||||||
Ingredion, Inc. | 242 | 26,032 | ||||||||||||
51,449 | ||||||||||||||
Coal & Consumable Fuels - 7.9% | ||||||||||||||
Cameco Corp. | 4,681 | 223,491 | ||||||||||||
Denison Mines Corp.(a) | 9,674 | 19,428 | ||||||||||||
Energy Fuels, Inc.(a) | 1,711 | 12,981 | ||||||||||||
NexGen Energy Ltd.(a) | 4,853 | 37,179 | ||||||||||||
Uranium Energy Corp.(a) | 4,158 | 31,767 | ||||||||||||
324,846 | ||||||||||||||
Copper - 5.6% | ||||||||||||||
First Quantum Minerals Ltd. | 2,075 | 18,829 | ||||||||||||
Freeport-McMoRan, Inc. | 5,444 | 216,072 | ||||||||||||
234,901 | ||||||||||||||
Electric Utilities - 10.4% | ||||||||||||||
Constellation Energy Corp. | 3,591 | 438,102 |
The accompanying notes are an integral part of these financial statements.
145
STRIVE FAANG 2.0 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.5% (Continued) | Shares | Value | ||||||||||||
Fertilizers & Agricultural Chemicals - 7.9% | ||||||||||||||
CF Industries Holdings, Inc. | 724 | $ | 54,669 | |||||||||||
Corteva, Inc. | 2,656 | 120,794 | ||||||||||||
FMC Corp. | 468 | 26,302 | ||||||||||||
Mosaic Co. | 1,246 | 38,265 | ||||||||||||
Nutrien Ltd. | 1,861 | 92,798 | ||||||||||||
332,828 | ||||||||||||||
Gold - 13.4% | ||||||||||||||
Agnico Eagle Mines Ltd. | 1,893 | 93,042 | ||||||||||||
Barrick Gold Corp. | 6,655 | 103,950 | ||||||||||||
Franco-Nevada Corp. | 739 | 79,955 | ||||||||||||
Kinross Gold Corp. | 4,696 | 25,882 | ||||||||||||
Newmont Corp. | 4,406 | 152,052 | ||||||||||||
Royal Gold, Inc. | 255 | 29,169 | ||||||||||||
Wheaton Precious Metals Corp. | 1,725 | 80,845 | ||||||||||||
564,895 | ||||||||||||||
Heavy Electrical Equipment - 0.0%(b) | ||||||||||||||
NuScale Power Corp.(a) | 673 | 1,945 | ||||||||||||
Integrated Oil & Gas - 10.5% | ||||||||||||||
Chevron Corp. | 1,150 | 169,545 | ||||||||||||
Exxon Mobil Corp. | 2,645 | 271,932 | ||||||||||||
441,477 | ||||||||||||||
Oil & Gas Equipment & Services - 1.1% | ||||||||||||||
Schlumberger N.V. | 927 | 45,145 | ||||||||||||
Oil & Gas Exploration & Production - 5.0% | ||||||||||||||
Canadian Natural Resources Ltd. | 705 | 45,117 | ||||||||||||
ConocoPhillips | 787 | 88,042 | ||||||||||||
EOG Resources, Inc. | 381 | 43,354 | ||||||||||||
Pioneer Natural Resources Co. | 147 | 33,785 | ||||||||||||
210,298 | ||||||||||||||
Oil & Gas Refining & Marketing - 2.0% | ||||||||||||||
Marathon Petroleum Corp. | 259 | 42,890 | ||||||||||||
Phillips 66 | 290 | 41,850 | ||||||||||||
84,740 | ||||||||||||||
Oil & Gas Storage & Transportation - 1.2% | ||||||||||||||
Enbridge, Inc. | 1,397 | 49,606 |
The accompanying notes are an integral part of these financial statements.
146
STRIVE FAANG 2.0 ETF | ||
SCHEDULE OF INVESTMENTS (CONTINUED) | ||
January 31, 2024 (Unaudited) |
COMMON STOCKS - 99.5% (Continued) | Shares | Value | ||||||||||||
Silver - 0.4% | ||||||||||||||
Pan American Silver Corp. | 1,364 | $ | 18,465 | |||||||||||
TOTAL COMMON STOCKS (Cost $4,222,437) | 4,173,891 | |||||||||||||
SHORT-TERM INVESTMENTS - 0.5% | ||||||||||||||
Money Market Funds - 0.5% | ||||||||||||||
First American Government Obligations Fund - Class X, 5.25%(c) | 19,508 | 19,508 | ||||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $19,508) | 19,508 | |||||||||||||
TOTAL INVESTMENTS - 100.0% (Cost $4,241,945) | $ | 4,193,399 | ||||||||||||
Other Assets in Excess of Liabilities - 0.0%(b) | 578 | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 4,193,977 |
Percentages are stated as a percent of net assets. |
(a) | Non-income producing security. | |||||||
(b) | Represents less than 0.05% of net assets. | |||||||
(c) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s 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.
The accompanying notes are an integral part of these financial statements.
147
STRIVE ETFs
STATEMENTS OF ASSETS AND LIABILITIES
January 31, 2024 (Unaudited)
Strive U.S. Energy ETF | Strive 500 ETF | Strive U.S. Semiconductor ETF | Strive Emerging Markets Ex-China ETF | |||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Investments in securities, at value (1) (Note 1) | $ | 322,708,979 | $ | 412,755,238 | $ | 48,432,714 | $ | 82,087,488 | ||||||||||||||||||
Receivable for fund shares sold | — | 5,330,227 | — | 5,409,560 | ||||||||||||||||||||||
Receivable for investments sold | 1,681,542 | — | — | — | ||||||||||||||||||||||
Dividends and interest receivable | 228,087 | 280,311 | 25,977 | 124,448 | ||||||||||||||||||||||
Return of capital receivable | 124,417 | 5,905 | — | — | ||||||||||||||||||||||
ETF variable fee receivable | — | — | — | 11,081 | ||||||||||||||||||||||
Securities lending income receivable (Note 5) | 8 | 826 | 123 | — | ||||||||||||||||||||||
Total assets | 324,743,033 | 418,372,507 | 48,458,814 | 87,632,577 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||
Payable for investment securities purchased | — | 4,622,205 | — | 5,370,132 | ||||||||||||||||||||||
Payable for fund shares redeemed | 1,698,762 | — | — | — | ||||||||||||||||||||||
Deferred foreign capital gain tax payable | — | — | — | 1,112,618 | ||||||||||||||||||||||
Due to securities lending agent (Note 5) | 781,359 | 63,107 | 238,277 | — | ||||||||||||||||||||||
Accrued investment advisory fees (Note 4) | 112,121 | 17,950 | 15,381 | 19,695 | ||||||||||||||||||||||
Total liabilities | 2,592,242 | 4,705,552 | 253,658 | 6,502,445 | ||||||||||||||||||||||
Net Assets | $ | 322,150,791 | $ | 413,666,955 | $ | 48,205,156 | $ | 81,130,132 | ||||||||||||||||||
Net Assets Consist of: | ||||||||||||||||||||||||||
Paid-in capital | $ | 322,372,493 | $ | 359,789,269 | $ | 36,079,954 | $ | 79,014,996 | ||||||||||||||||||
Total distributable earnings (accumulated deficit) | (221,702) | 53,877,686 | 12,125,202 | 2,115,136 | ||||||||||||||||||||||
Net Assets: | $ | 322,150,791 | $ | 413,666,955 | $ | 48,205,156 | $ | 81,130,132 | ||||||||||||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||||||||||||
Net Assets | $ | 322,150,791 | $ | 413,666,955 | $ | 48,205,156 | $ | 81,130,132 | ||||||||||||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 11,590,000 | 13,320,000 | 1,220,000 | 3,000,000 | ||||||||||||||||||||||
Net Asset Value per Share | $ | 27.80 | $ | 31.06 | $ | 39.51 | $ | 27.04 | ||||||||||||||||||
Cost of Investments in Securities | $ | 322,467,194 | $ | 361,245,881 | $ | 37,682,225 | $ | 75,550,830 | ||||||||||||||||||
(1)Includes loaned securities with a value of | $ | 727,167 | $ | 58,849 | $ | 226,847 | $ | — |
The accompanying notes are an integral part of these financial statements.
148
STRIVE ETFs
STATEMENTS OF ASSETS AND LIABILITIES
January 31, 2024 (Unaudited)
Strive 1000 Dividend Growth ETF | Strive 1000 Growth ETF | Strive 1000 Value ETF | Strive Small-Cap ETF | |||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||
Investments in securities, at value(1) (Note 1) | $ | 32,991,119 | $ | 47,529,768 | $ | 25,618,532 | $ | 37,466,774 | ||||||||||||||||||
Receivable for fund shares sold | — | 1,730,515 | — | — | ||||||||||||||||||||||
Dividends and interest receivable | 32,852 | 16,827 | 32,946 | 6,212 | ||||||||||||||||||||||
Securities lending income receivable (Note 5) | 158 | 50 | 109 | 2,155 | ||||||||||||||||||||||
Return of capital receivable | — | — | 1,137 | — | ||||||||||||||||||||||
Total assets | 33,024,129 | 49,277,160 | 25,652,724 | 37,475,141 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||
Payable for investment securities purchased | — | 1,473,825 | — | — | ||||||||||||||||||||||
Due to securities lending agent (Note 5) | — | 34,415 | 16,633 | 666,803 | ||||||||||||||||||||||
Accrued investment advisory fees (Note 4) | 9,580 | 6,712 | 3,653 | 5,453 | ||||||||||||||||||||||
Total liabilities | 9,580 | 1,514,952 | 20,286 | 672,256 | ||||||||||||||||||||||
Net Assets | $ | 33,014,549 | $ | 47,762,208 | $ | 25,632,438 | $ | 36,802,885 | ||||||||||||||||||
Net Assets Consist of: | ||||||||||||||||||||||||||
Paid-in capital | $ | 30,019,471 | $ | 41,161,982 | $ | 24,140,689 | $ | 34,463,245 | ||||||||||||||||||
Total distributable earnings (accumulated deficit) | 2,995,078 | 6,600,226 | 1,491,749 | 2,339,640 | ||||||||||||||||||||||
Net Assets: | $ | 33,014,549 | $ | 47,762,208 | $ | 25,632,438 | $ | 36,802,885 | ||||||||||||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||||||||||||
Net Assets | $ | 33,014,549 | $ | 47,762,208 | $ | 25,632,438 | $ | 36,802,885 | ||||||||||||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 1,130,000 | 1,380,000 | 960,000 | 1,320,000 | ||||||||||||||||||||||
Net Asset Value per Share | $ | 29.22 | $ | 34.61 | $ | 26.70 | $ | 27.88 | ||||||||||||||||||
Cost of Investments in Securities | $ | 29,953,782 | $ | 40,967,647 | $ | 24,123,880 | $ | 35,533,237 | ||||||||||||||||||
(1) Includes loaned securities with a value of | $ | — | $ | 32,197 | $ | 15,592 | $ | 624,756 |
The accompanying notes are an integral part of these financial statements.
149
STRIVE ETFs
STATEMENTS OF ASSETS AND LIABILITIES
January 31, 2024 (Unaudited)
Strive Enhanced Income Short Maturity ETF | Strive Total Return Bond ETF | Strive FAANG 2.0 ETF | ||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments in securities, at value (Note 1) | $ | 75,648,548 | $ | 74,148,498 | $ | 4,193,399 | ||||||||||||||
Dividends and interest receivable | 315,494 | 247,618 | 2,093 | |||||||||||||||||
Receivable for investments sold | 229,103 | — | — | |||||||||||||||||
Net unrealized appreciation on futures | — | 171,562 | — | |||||||||||||||||
Deposit at broker for futures | 76,914 | 869,028 | — | |||||||||||||||||
Total assets | 76,270,059 | 75,436,706 | 4,195,492 | |||||||||||||||||
Liabilities: | ||||||||||||||||||||
Payable for investment securities purchased | 2,415,813 | 3,797,082 | — | |||||||||||||||||
Accrued investment advisory fees (Note 4) | 14,099 | 27,686 | 1,515 | |||||||||||||||||
Total liabilities | 2,429,912 | 3,824,768 | 1,515 | |||||||||||||||||
Net Assets | $ | 73,840,147 | $ | 71,611,938 | $ | 4,193,977 | ||||||||||||||
Net Assets Consist of: | ||||||||||||||||||||
Paid-in capital | $ | 73,337,888 | $ | 70,066,031 | $ | 4,211,937 | ||||||||||||||
Total distributable earnings (accumulated deficit) | 502,259 | 1,545,907 | (17,960) | |||||||||||||||||
Net Assets: | $ | 73,840,147 | $ | 71,611,938 | $ | 4,193,977 | ||||||||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||||||
Net Assets | $ | 73,840,147 | $ | 71,611,938 | $ | 4,193,977 | ||||||||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 3,650,000 | 3,510,000 | 170,000 | |||||||||||||||||
Net Asset Value per Share | $ | 20.23 | $ | 20.40 | $ | 24.67 | ||||||||||||||
Cost of Investments in Securities | $ | 75,273,675 | $ | 72,751,909 | $ | 4,241,945 | ||||||||||||||
Cost of required margin held as collateral for futures contracts | $ | 27,600 | $ | 527,950 | $ | — |
The accompanying notes are an integral part of these financial statements.
150
STRIVE ETFs
STATEMENTS OF OPERATIONS
For the Period Ended January 31, 2024 (Unaudited)
Strive U.S. Energy ETF | Strive 500 ETF | Strive U.S. Semiconductor ETF | Strive Emerging Markets Ex-China ETF | |||||||||||||||||||||||
Investment Income: | ||||||||||||||||||||||||||
Dividend income (net of foreign withholding tax of $4,485, $0, $0, and $177,401, respectively) | $ | 5,551,593 | $ | 2,378,513 | $ | 218,077 | $ | 1,137,819 | ||||||||||||||||||
Interest income | 27,608 | 37,221 | 2,884 | 19,819 | ||||||||||||||||||||||
Securities lending income, net (Note 5) | 78 | 2,822 | 569 | — | ||||||||||||||||||||||
Total investment income | 5,579,279 | 2,418,556 | 221,530 | 1,157,638 | ||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||
Investment advisory fees (Note 4) | 714,499 | 83,678 | 77,535 | 163,428 | ||||||||||||||||||||||
Overdraft fees expense | — | — | — | 2,036 | ||||||||||||||||||||||
Net expenses | 714,499 | 83,678 | 77,535 | 165,464 | ||||||||||||||||||||||
Net Investment Income (Loss) | 4,864,780 | 2,334,878 | 143,995 | 992,174 | ||||||||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments: | ||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||
Investments (net of foreign capital gains tax of $0, $0, $0, and $1,038,152, respectively) | 1,645,309 | 2,337,275 | 1,504,168 | (3,660,999) | ||||||||||||||||||||||
Foreign currency | — | — | — | (23,456) | ||||||||||||||||||||||
1,645,309 | 2,337,275 | 1,504,168 | (3,684,455) | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||
Investments | (20,588,855) | 21,424,673 | 2,061,464 | (2,934,906) | ||||||||||||||||||||||
Foreign currency | — | — | — | (329,219) | ||||||||||||||||||||||
(20,588,855) | 21,424,673 | 2,061,464 | (3,264,125) | |||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments: | (18,943,546) | 23,761,948 | 3,565,632 | (6,948,580) | ||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (14,078,766) | $ | 26,096,826 | $ | 3,709,627 | $ | (5,956,406) |
The accompanying notes are an integral part of these financial statements.
151
STRIVE ETFs
STATEMENTS OF OPERATIONS
For the Period Ended January 31, 2024 (Unaudited)
Strive 1000 Dividend Growth ETF | Strive 1000 Growth ETF | Strive 1000 Value ETF | Strive Small-Cap ETF | |||||||||||||||||||||||
Investment Income: | ||||||||||||||||||||||||||
Dividend income (net of foreign withholding tax of $0, $96, $16, and $290, respectively) | $ | 291,376 | $ | 170,644 | $ | 307,180 | $ | 256,288 | ||||||||||||||||||
Interest income | 2,782 | 4,637 | 2,164 | 3,104 | ||||||||||||||||||||||
Securities lending income, net (Note 5) | 514 | 273 | 565 | 10,111 | ||||||||||||||||||||||
Total investment income | 294,672 | 175,554 | 309,909 | 269,503 | ||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||
Investment advisory fees (Note 4) | 50,177 | 33,342 | 18,672 | 27,170 | ||||||||||||||||||||||
Net expenses | 50,177 | 33,342 | 18,672 | 27,170 | ||||||||||||||||||||||
Net Investment Income (Loss) | 244,495 | 142,212 | 291,237 | 242,333 | ||||||||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments: | ||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||
Investments | 26,914 | 41,239 | (6,154) | 465,423 | ||||||||||||||||||||||
26,914 | 41,239 | (6,154) | 465,423 | |||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||
Investments | 1,562,137 | 3,405,141 | 559,169 | 48,905 | ||||||||||||||||||||||
1,562,137 | 3,405,141 | 559,169 | 48,905 | |||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments: | 1,589,051 | 3,446,380 | 553,015 | 514,328 | ||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 1,833,546 | $ | 3,588,592 | $ | 844,252 | $ | 756,661 |
The accompanying notes are an integral part of these financial statements.
152
STRIVE ETFs
STATEMENTS OF OPERATIONS
For the Period Ended January 31, 2024 (Unaudited)
Strive Enhanced Income Short Maturity ETF⁽¹⁾ | Strive Total Return Bond ETF ⁽¹⁾ | Strive FAANG 2.0 ETF⁽²⁾ | |||||||||||||||||||||
Investment Income: | |||||||||||||||||||||||
Interest income | $ | 1,373,784 | $ | 1,461,420 | $ | 217 | |||||||||||||||||
Dividend income (net of foreign withholding tax of $0, $0, and $609, respectively) | — | — | 22,808 | ||||||||||||||||||||
Total investment income | 1,373,784 | 1,461,420 | 23,025 | ||||||||||||||||||||
Expenses: | |||||||||||||||||||||||
Investment advisory fees (Note 4) | 56,049 | 122,636 | 5,581 | ||||||||||||||||||||
Net expenses | 56,049 | 122,636 | 5,581 | ||||||||||||||||||||
Net Investment Income (Loss) | 1,317,735 | 1,338,784 | 17,444 | ||||||||||||||||||||
Realized and Unrealized Gain (Loss) on Investments: | |||||||||||||||||||||||
Net realized gain (loss) on: | |||||||||||||||||||||||
Investments | 22,105 | 43,178 | 31,362 | ||||||||||||||||||||
Futures contracts | (5,648) | (497,313) | — | ||||||||||||||||||||
Foreign currency | — | — | (339) | ||||||||||||||||||||
16,457 | (454,135) | 31,023 | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | |||||||||||||||||||||||
Investments | 374,872 | 1,396,588 | (53,809) | ||||||||||||||||||||
Futures contracts | 48,103 | 555,952 | — | ||||||||||||||||||||
Foreign currency | — | — | 5,263 | ||||||||||||||||||||
422,975 | 1,952,540 | (48,546) | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments: | 439,432 | 1,498,405 | (17,523) | ||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 1,757,167 | $ | 2,837,189 | $ | (79) |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
The accompanying notes are an integral part of these financial statements.
153
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive U.S. Energy ETF | Strive 500 ETF | |||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽¹⁾ | For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽²⁾ | |||||||||||||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||||
Net investment income (loss) | $ | 4,864,780 | $ | 10,222,830 | $ | 2,334,878 | $ | 1,648,426 | ||||||||||||||||||
Net realized gain (loss) on investments | 1,645,309 | 7,725,816 | 2,337,275 | 729,927 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | (20,588,855) | 20,830,640 | 21,424,673 | 30,091,084 | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (14,078,766) | 38,779,286 | 26,096,826 | 32,469,437 | ||||||||||||||||||||||
Distributions to Shareholders: | ||||||||||||||||||||||||||
Distributable earnings | (4,991,269) | (9,891,239) | (2,225,553) | (1,419,614) | ||||||||||||||||||||||
Total distributions to shareholders | (4,991,269) | (9,891,239) | (2,225,553) | (1,419,614) | ||||||||||||||||||||||
Capital Share Transactions: | ||||||||||||||||||||||||||
Proceeds from shares sold | 5,795,387 | 423,825,077 | 149,482,644 | 229,618,180 | ||||||||||||||||||||||
Payments for shares redeemed | (24,777,937) | (92,509,749) | (11,555,475) | (8,799,490) | ||||||||||||||||||||||
Transaction fees (See Note 1) | — | 1 | — | — | ||||||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | (18,982,550) | 331,315,329 | 137,927,169 | 220,818,690 | ||||||||||||||||||||||
Net Increase in Net Assets | (38,052,585) | 360,203,376 | 161,798,442 | 251,868,513 | ||||||||||||||||||||||
Net Assets: | ||||||||||||||||||||||||||
Beginning of period | 360,203,376 | — | 251,868,513 | — | ||||||||||||||||||||||
End of period | $ | 322,150,791 | $ | 360,203,376 | $ | 413,666,955 | $ | 251,868,513 | ||||||||||||||||||
Changes in Shares Outstanding: | ||||||||||||||||||||||||||
Shares outstanding, beginning of period | 12,260,000 | — | 8,600,000 | — | ||||||||||||||||||||||
Shares sold | 200,000 | 15,500,000 | 5,120,000 | 8,950,000 | ||||||||||||||||||||||
Shares repurchased | (870,000) | (3,240,000) | (400,000) | (350,000) | ||||||||||||||||||||||
Shares outstanding, end of period | 11,590,000 | 12,260,000 | 13,320,000 | 8,600,000 |
(1) The Fund commenced operations on August 9, 2022. | ||
(2) The Fund commenced operations on September 15, 2022. |
The accompanying notes are an integral part of these financial statements.
154
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive U.S. Semiconductor ETF | Strive Emerging Markets Ex-China ETF | |||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽1⁾ | For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽2⁾ | |||||||||||||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||||
Net investment income (loss) | $ | 143,995 | $ | 144,788 | $ | 992,174 | $ | 1,362,334 | ||||||||||||||||||
Net realized gain (loss) on investments & foreign currency | 1,504,168 | 645,463 | (3,684,455) | (1,324,066) | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments & foreign currency | 2,061,464 | 8,689,025 | (3,264,125) | 9,799,698 | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 3,709,627 | 9,479,276 | (5,956,406) | 9,837,966 | ||||||||||||||||||||||
Distributions to Shareholders: | ||||||||||||||||||||||||||
Distributable earnings | (140,476) | (137,017) | (1,303,510) | (462,914) | ||||||||||||||||||||||
Total distributions to shareholders | (140,476) | (137,017) | (1,303,510) | (462,914) | ||||||||||||||||||||||
Capital Share Transactions: | ||||||||||||||||||||||||||
Proceeds from shares sold | 12,331,422 | 31,001,497 | 18,734,690 | 143,615,130 | ||||||||||||||||||||||
Payments for shares redeemed | (4,321,823) | (3,717,350) | (84,440,260) | — | ||||||||||||||||||||||
Transaction fees (See Note 1) | — | — | 368,615 | 736,821 | ||||||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | 8,009,599 | 27,284,147 | (65,336,955) | 144,351,951 | ||||||||||||||||||||||
Net Increase in Net Assets | 11,578,750 | 36,626,406 | (72,596,871) | 153,727,003 | ||||||||||||||||||||||
Net Assets: | ||||||||||||||||||||||||||
Beginning of period | 36,626,406 | — | 153,727,003 | — | ||||||||||||||||||||||
End of period | $ | 48,205,156 | $ | 36,626,406 | $ | 81,130,132 | $ | 153,727,003 | ||||||||||||||||||
Changes in Shares Outstanding: | ||||||||||||||||||||||||||
Shares outstanding, beginning of period | 1,000,000 | — | 5,700,000 | — | ||||||||||||||||||||||
Shares sold | 350,000 | 1,150,000 | 700,000 | 5,700,000 | ||||||||||||||||||||||
Shares repurchased | (130,000) | (150,000) | (3,400,000) | — | ||||||||||||||||||||||
Shares outstanding, end of period | 1,220,000 | 1,000,000 | 3,000,000 | 5,700,000 |
(1) The Fund commenced operations on October 6, 2022. | ||
(2) The Fund commenced operations on January 31, 2023. |
The accompanying notes are an integral part of these financial statements.
155
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive 1000 Dividend Growth ETF | Strive 1000 Growth ETF | |||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽¹⁾ | For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽¹⁾ | |||||||||||||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||||
Net investment income (loss) | $ | 244,495 | $ | 105,293 | $ | 142,212 | $ | 54,117 | ||||||||||||||||||
Net realized gain (loss) on investments | 26,914 | 30,599 | 41,239 | 28,675 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 1,562,137 | 1,475,928 | 3,405,141 | 3,157,479 | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 1,833,546 | 1,611,820 | 3,588,592 | 3,240,271 | ||||||||||||||||||||||
Distributions to Shareholders: | ||||||||||||||||||||||||||
Distributable earnings | (236,668) | (84,274) | (140,564) | (43,091) | ||||||||||||||||||||||
Total distributions to shareholders | (236,668) | (84,274) | (140,564) | (43,091) | ||||||||||||||||||||||
Capital Share Transactions: | ||||||||||||||||||||||||||
Proceeds from shares sold | 9,294,695 | 22,209,595 | 15,671,196 | 27,123,990 | ||||||||||||||||||||||
Payments for shares redeemed | (292,385) | (1,321,780) | (334,732) | (1,343,455) | ||||||||||||||||||||||
Transaction fees (See Note 1) | — | — | — | 1 | ||||||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | 9,002,310 | 20,887,815 | 15,336,464 | 25,780,536 | ||||||||||||||||||||||
Net Increase in Net Assets | 10,599,188 | 22,415,361 | 18,784,492 | 28,977,716 | ||||||||||||||||||||||
Net Assets: | ||||||||||||||||||||||||||
Beginning of period | 22,415,361 | — | 28,977,716 | — | ||||||||||||||||||||||
End of period | $ | 33,014,549 | $ | 22,415,361 | $ | 47,762,208 | $ | 28,977,716 | ||||||||||||||||||
Changes in Shares Outstanding: | ||||||||||||||||||||||||||
Shares outstanding, beginning of period | 800,000 | — | 900,000 | — | ||||||||||||||||||||||
Shares sold | 340,000 | 850,000 | 490,000 | 950,000 | ||||||||||||||||||||||
Shares repurchased | (10,000) | (50,000) | (10,000) | (50,000) | ||||||||||||||||||||||
Shares outstanding, end of period | 1,130,000 | 800,000 | 1,380,000 | 900,000 |
(1) The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
156
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive 1000 Value ETF | Strive Small-Cap ETF | |||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽¹⁾ | For the Period Ended January 31, 2024 (Unaudited) | For the Period Ended July 31, 2023⁽¹⁾ | |||||||||||||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||||
Net investment income (loss) | $ | 291,237 | $ | 133,064 | $ | 242,333 | $ | 82,659 | ||||||||||||||||||
Net realized gain (loss) on investments | (6,154) | 1,603 | 465,423 | 133,494 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 559,169 | 936,325 | 48,905 | 1,888,127 | ||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 844,252 | 1,070,992 | 756,661 | 2,104,280 | ||||||||||||||||||||||
Distributions to Shareholders: | ||||||||||||||||||||||||||
Distributable earnings | (280,036) | (102,472) | (254,778) | (67,734) | ||||||||||||||||||||||
Total distributions to shareholders | (280,036) | (102,472) | (254,778) | (67,734) | ||||||||||||||||||||||
Capital Share Transactions: | ||||||||||||||||||||||||||
Proceeds from shares sold | 9,238,962 | 17,387,200 | 18,399,880 | 24,431,395 | ||||||||||||||||||||||
Payments for shares redeemed | (1,271,270) | (1,255,190) | (5,938,460) | (2,628,360) | ||||||||||||||||||||||
Transaction fees (See Note 1) | — | — | — | 1 | ||||||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | 7,967,692 | 16,132,010 | 12,461,420 | 21,803,036 | ||||||||||||||||||||||
Net Increase in Net Assets | 8,531,908 | 17,100,530 | 12,963,303 | 23,839,582 | ||||||||||||||||||||||
Net Assets: | ||||||||||||||||||||||||||
Beginning of period | 17,100,530 | — | 23,839,582 | — | ||||||||||||||||||||||
End of period | $ | 25,632,438 | $ | 17,100,530 | $ | 36,802,885 | $ | 23,839,582 | ||||||||||||||||||
Changes in Shares Outstanding: | ||||||||||||||||||||||||||
Shares outstanding, beginning of period | 650,000 | — | 850,000 | — | ||||||||||||||||||||||
Shares sold | 360,000 | 700,000 | 690,000 | 950,000 | ||||||||||||||||||||||
Shares repurchased | (50,000) | (50,000) | (220,000) | (100,000) | ||||||||||||||||||||||
Shares outstanding, end of period | 960,000 | 650,000 | 1,320,000 | 850,000 |
(1) The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
157
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive Enhanced Income Short Maturity ETF | Strive Total Return Bond ETF | Strive FAANG 2.0 ETF | |||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited)⁽¹⁾ | For the Period Ended January 31, 2024 (Unaudited)⁽¹⁾ | For the Period Ended January 31, 2024 (Unaudited)⁽²⁾ | |||||||||||||||||||||
Increase (Decrease) in Net Assets from: | |||||||||||||||||||||||
Operations: | |||||||||||||||||||||||
Net investment income (loss) | $ | 1,317,735 | $ | 1,338,784 | $ | 17,444 | |||||||||||||||||
Net realized gain (loss) on investments, futures contracts & foreign currency | 16,457 | (454,135) | 31,023 | ||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments, futures contracts & foreign currency | 422,975 | 1,952,540 | (48,546) | ||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 1,757,167 | 2,837,189 | (79) | ||||||||||||||||||||
Distributions to Shareholders: | |||||||||||||||||||||||
Distributable earnings | (1,254,908) | (1,291,282) | (17,881) | ||||||||||||||||||||
Total distributions to shareholders | (1,254,908) | (1,291,282) | (17,881) | ||||||||||||||||||||
Capital Share Transactions: | |||||||||||||||||||||||
Proceeds from shares sold | 75,764,660 | 70,066,031 | 4,708,277 | ||||||||||||||||||||
Payments for shares redeemed | (2,426,772) | — | (496,340) | ||||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | 73,337,888 | 70,066,031 | 4,211,937 | ||||||||||||||||||||
Net Increase in Net Assets | 73,840,147 | 71,611,938 | 4,193,977 | ||||||||||||||||||||
Net Assets: | |||||||||||||||||||||||
Beginning of period | — | — | — | ||||||||||||||||||||
End of period | $ | 73,840,147 | $ | 71,611,938 | $ | 4,193,977 | |||||||||||||||||
Changes in Shares Outstanding: | |||||||||||||||||||||||
Shares outstanding, beginning of period | — | — | — | ||||||||||||||||||||
Shares sold | 3,770,000 | 3,510,000 | 190,000 | ||||||||||||||||||||
Shares repurchased | (120,000) | — | (20,000) | ||||||||||||||||||||
Shares outstanding, end of period | 3,650,000 | 3,510,000 | 170,000 |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
The accompanying notes are an integral part of these financial statements.
158
STRIVE ETFs
FINANCIAL HIGHLIGHTS
For the Period Ended January 31, 2024
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) on Investments | Net Increase (Decrease) in Net Asset Value Resulting from Operations | Distributions from Net Investment Income | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Net Assets, End of Period (000's) | Net Expenses(3)(4) | Net Investment Income (Loss)(3) | Portfolio Turnover Rate(5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive U.S. Energy ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 29.38 | 0.41 | (1.57) | (1.16) | (0.42) | (0.42) | 27.80 | -4.04 | % | $ | 322,151 | 0.41 | % | 2.79 | % | 3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 9, 2022(6) to July 31, 2023 | $ | 25.12 | 0.84 | 4.20 | 5.04 | (0.78) | (0.78) | 29.38 | 20.22 | % | $ | 360,203 | 0.41 | % | 3.04 | % | 6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive 500 ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 29.29 | 0.22 | 1.75 | 1.97 | (0.20) | (0.20) | 31.06 | 6.79 | % | $ | 413,667 | 0.0545 | % | 1.52 | % | 2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 15, 2022(6) to July 31, 2023 | $ | 25.10 | 0.35 | 4.10 | 4.45 | (0.26) | (0.26) | 29.29 | 17.85 | % | $ | 251,869 | 0.05 | % | 1.52 | % | 3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive U.S. Semiconductor ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 36.63 | 0.13 | 2.88 | 3.01 | (0.13) | (0.13) | 39.51 | 8.28 | % | $ | 48,205 | 0.40 | % | 0.74 | % | 4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 6, 2022(6) to July 31, 2023 | $ | 25.07 | 0.22 | 11.53 | 11.75 | (0.19) | (0.19) | 36.63 | 47.03 | % | $ | 36,626 | 0.40 | % | 0.92 | % | 10 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive Emerging Markets Ex-China ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 26.97 | 0.25 | 0.04 | 0.29 | (0.22) | (0.22) | 27.04 | 1.16 | % | $ | 81,130 | 0.32 | % | 1.94 | % | 46 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 31, 2023(6) to July 31, 2023 | $ | 25.17 | 0.29 | 1.59 | 1.88 | (0.08) | (0.08) | 26.97 | 7.49 | % | $ | 153,727 | 1.29 | % | 2.28 | % | 39 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive 1000 Dividend Growth ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 28.02 | 0.24 | 1.18 | 1.42 | (0.22) | (0.22) | 29.22 | 5.12 | % | $ | 33,015 | 0.35 | % | 1.71 | % | 1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 10, 2022(6) to July 31, 2023 | $ | 24.59 | 0.30 | 3.35 | 3.65 | (0.22) | (0.22) | 28.02 | 14.90 | % | $ | 22,415 | 0.35 | % | 1.56 | % | 18 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive 1000 Growth ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 32.20 | 0.12 | 2.41 | 2.53 | (0.12) | (0.12) | 34.61 | 7.90 | % | $ | 47,762 | 0.18 | % | 0.77 | % | 6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 10, 2022(6) to July 31, 2023 | $ | 24.51 | 0.16 | 7.64 | 7.80 | (0.11) | (0.11) | 32.20 | 31.88 | % | $ | 28,978 | 0.18 | % | 0.74 | % | 2 | % |
The accompanying notes are an integral part of these financial statements.
159
STRIVE ETFs
Net Asset Value, Beginning of Period | Net Investment Income (Loss)(1) | Net Realized and Unrealized Gain (Loss) on Investments | Net Increase (Decrease) in Net Asset Value Resulting from Operations | Distributions from Net Investment Income | Total Distributions | Net Asset Value, End of Period | Total Return(2) | Net Assets, End of Period (000's) | Net Expenses(3)(4) | Net Investment Income (Loss)(3) | Portfolio Turnover Rate(5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive 1000 Value ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 26.31 | 0.36 | 0.38 | 0.74 | (0.35) | (0.35) | 26.70 | 2.84 | % | $ | 25,632 | 0.18 | % | 2.81 | % | 11 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 10, 2022(6) to July 31, 2023 | $ | 24.45 | 0.47 | 1.72 | 2.19 | (0.33) | (0.33) | 26.31 | 9.03 | % | $ | 17,101 | 0.18 | % | 2.62 | % | 4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive Small-Cap ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the Period Ended January 31, 2024 (Unaudited) | $ | 28.05 | 0.21 | (0.17) | 0.04 | (0.21) | (0.21) | 27.88 | 0.20 | % | $ | 36,803 | 0.18 | % | 1.61 | % | 20 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 10, 2022(6) to July 31, 2023 | $ | 24.32 | 0.25 | 3.67 | 3.92 | (0.19) | (0.19) | 28.05 | 16.20 | % | $ | 23,840 | 0.18 | % | 1.34 | % | 20 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive Enhanced Income Short Maturity ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 10, 2023(6) to January 31, 2024 (Unaudited) | $ | 20.00 | 0.57 | 0.12 | 0.69 | (0.46) | (0.46) | 20.23 | 3.49 | % | $ | 73,840 | 0.25 | % | 5.88 | % | 21 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive Total Return Bond ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 10, 2023(6) to January 31, 2024 (Unaudited) | $ | 20.00 | 0.51 | 0.33 | 0.84 | (0.44) | (0.44) | 20.40 | 4.31 | % | $ | 71,612 | 0.49 | % | 5.35 | % | 39 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strive FAANG 2.0 ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 31, 2023(6) to January 31, 2024 (Unaudited) | $ | 25.13 | 0.16 | (0.47) | (0.31) | (0.15) | (0.15) | 24.67 | -1.24 | % | $ | 4,194 | 0.49 | % | 1.53 | % | 6 | % |
(1) Net investment income per share represents net investment income divided by the daily average shares of beneficial interest outstanding throughout the period. | ||
(2) All returns reflect reinvested dividends, if any, but do not reflect the impact of taxes. Total return for a period of less than one year is not annualized. | ||
(3) For periods of less than one year, these ratios are annualized. | ||
(4) Net expenses include effects of any reimbursement or recoupment. | ||
(5) Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes the impact of in-kind transactions. | ||
(6) Commencement of operations. |
The accompanying notes are an integral part of these financial statements.
160
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 1 – ORGANIZATION
Each of Strive U.S. Energy ETF, Strive 500 ETF, Strive U.S. Semiconductor ETF, Strive Emerging Markets Ex-China ETF, Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, Strive Small-Cap ETF, Strive Enhanced Income Short Maturity ETF, Strive Total Return Bond ETF and Strive FAANG 2.0 ETF (individually a “Fund” or collectively the “Funds”) is a series of the EA Series Trust (the “Trust”), which was organized as a Delaware statutory trust on October 11, 2013. The Trust is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company and the offering of the Funds’ shares (“Shares”) is registered under the Securities Act of 1933, as amended (the “Securities Act”). Each of the Funds is considered non-diversified under the 1940 Act. Each Fund qualifies as an investment company as defined in the Financial Accounting Standards Codification Topic 946-Financial Services - Investment Companies.
Fund | Commencement of Operations | Creation Unit Size | ||||||
Strive U.S. Energy ETF | August 9, 2022 | 10,000 | ||||||
Strive 500 ETF | September 15, 2022 | 10,000 | ||||||
Strive U.S. Semiconductor ETF | October 6, 2022 | 10,000 | ||||||
Strive Emerging Markets Ex-China ETF | November 10, 2022 | 100,000 | ||||||
Strive 1000 Dividend Growth ETF | November 10, 2022 | 10,000 | ||||||
Strive 1000 Growth ETF | November 10, 2022 | 10,000 | ||||||
Strive 1000 Value ETF | November 10, 2022 | 10,000 | ||||||
Strive Small-Cap ETF | November 10, 2022 | 10,000 | ||||||
Strive Enhanced Income Short Maturity ETF | August 10, 2023 | 10,000 | ||||||
Strive Total Return Bond ETF | August 10, 2023 | 10,000 | ||||||
Strive FAANG 2.0 ETF | August 31, 2023 | 10,000 |
The investment objective of the below Funds is to seek to track the total return performance, before fees and expenses, of its particular index. The underlying index for each Fund is defined below:
Fund | Index | |||||||
Strive U.S. Energy ETF | Solactive United States Energy Regulated Capped Index | |||||||
Strive 500 ETF | Bloomberg US Large Cap Index | |||||||
Strive U.S. Semiconductor ETF | Solactive United States Semiconductors 30 Capped Index | |||||||
Strive Emerging Markets Ex-China ETF | Bloomberg Emerging Markets ex China Large & Mid Cap Index | |||||||
Strive 1000 Dividend Growth ETF | Bloomberg U.S. 1000 Dividend Growth Index | |||||||
Strive 1000 Growth ETF | Bloomberg U.S. 1000 Growth Index | |||||||
Strive 1000 Value ETF | Bloomberg U.S. 1000 Value Index | |||||||
Strive Small-Cap ETF | Bloomberg U.S. 600 Index | |||||||
Strive FAANG 2.0 ETF | Bloomberg FAANG 2.0 Select Index |
The investment objective of the Strive Enhanced Income Short Maturity ETF is to seek to provide current income while seeking to minimize price volatility and maintain liquidity and the investment objective of the Strive Total Return Bond ETF is to seek to maximize total return. Each Fund manages to its respective index.
Market prices for the shares may be different from their net asset value (“NAV”). The Funds issue and redeem shares on a continuous basis at NAV only in blocks of shares, called “Creation Units.” Creation Units are issued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally trade in the secondary market at market prices that change throughout the day in share amounts less than a Creation Unit. Except when aggregated in Creation Units, shares are not redeemable securities of the Funds. Shares of the Funds may only be purchased or redeemed by certain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a DTC participant and, in each case, must have executed a Participant Agreement with the Distributor.
161
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the shares directly from the Funds. Rather, most retail investors may purchase shares in the secondary market with the assistance of a broker and are subject to customary brokerage commissions or fees.
Authorized Participants may be required to pay a transaction fee to compensate the Fund as applicable or its custodian for costs incurred in connection with creation and redemption transactions. The standard transaction fee, which is payable to the Trust’s custodian, typically applies to in-kind purchases of the Funds effected through the clearing process on any business day, regardless of the number of Creation Units purchased or redeemed that day (“Standard Transaction Fees”). Variable fees are imposed to compensate the Funds for the transaction costs associated with the cash transactions fees. Certain fund deposits consisting of cash-in-lieu or cash value may be subject to a variable charge (“Variable Transaction Fees”), which are payable to a Fund, of up to 2.00% of the value of the order in addition to the Standard Transaction Fees. Variable Transaction Fees received by a Fund, if any, are displayed in the Capital Share Transactions sections of the Statements of Changes in Net Assets.
Because, among other things, the Funds impose transaction fees on purchases and redemptions of Shares to cover the custodial and other costs incurred by the Funds in effecting trades, the Board determined that it is not necessary to adopt policies and procedures to detect and deter market timing of the Funds’ Shares.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies consistently followed by the Fund. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).
A.Security Valuation. Equity securities that are traded on a national securities exchange, except those listed on the NASDAQ Global Market® (“NASDAQ”) are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on NASDAQ will be valued at the NASDAQ Official Closing Price (“NOCP”). If, on a particular day, an exchange-traded or NASDAQ security does not trade, then the most recent quoted bid for exchange-traded or the mean between the most recent quoted bid and ask price for NASDAQ securities will be used. Equity securities that are not traded on a listed exchange are generally valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies are valued at the investment company’s applicable net asset value, with the exception of exchange-traded open-end investment companies which are priced as equity securities. Fair values for long-term debt securities, including asset-backed securities (“ABS”), collateralized loan obligations (“CLO”), collateralized mortgage obligations (“CMO”), corporate obligations, whole loans, and mortgage-backed securities (“MBS”) are normally determined on the basis of valuations provided by independent pricing services. Vendors typically value such securities based on one or more inputs, including but not limited to, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and pricing models such as yield measurers calculated using factors such as cash flows, financial or collateral performance and other reference data. In addition to these inputs, MBS and ABS may utilize cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information. Reverse repurchase agreements are priced at their acquisition cost, and assessed for credit adjustments, which represents fair value. Futures contracts are carried at fair value using the primary exchange’s closing (settlement) price.
Subject to its oversight, the Trust’s Board of Trustees (the “Board”) has delegated primary responsibility for determining or causing to be determined the value of the Fund’s investments to Empowered Funds, LLC dba EA Advisers (the “Adviser”), pursuant to the Trust’s valuation policy and procedures, which have been adopted by the Trust and approved by the Board. In accordance with Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the “valuation designee” of the Fund. If the Adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the Adviser in accordance with the Trust’s fair valuation policy and procedures. The Adviser will provide the Board with periodic reports, no less frequently than quarterly, that discuss the functioning of the valuation process, if applicable, and that identify issues and valuation problems that have arisen, if any. As appropriate, the Adviser and the Board will review any securities valued by the Adviser in accordance with the Trust’s valuation policies during these periodic reports. The use of fair value pricing by the Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of January 31, 2024, the Fund did not hold any securities that required fair valuation due to unobservable inputs.
162
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
As described above, the Fund may use various methods to measure the fair value of their investments on a recurring basis. 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 fair value classification of the Fund’s investments as of January 31, 2024:
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | ||||||||||||||||||||||
Strive U.S. Energy ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 321,046,408 | $ | — | $ | — | $ | 321,046,408 | ||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 781,359 | — | — | 781,359 | ||||||||||||||||||||||
Money Market Funds | 881,212 | — | — | 881,212 | ||||||||||||||||||||||
Total Investments in Securities | $ | 322,708,979 | $ | — | $ | — | $ | 322,708,979 | ||||||||||||||||||
Strive 500 ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 402,018,468 | $ | — | $ | — | $ | 402,018,468 | ||||||||||||||||||
Real Estate Investment Trusts | 8,569,882 | — | — | 8,569,882 | ||||||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 63,107 | — | — | 63,107 | ||||||||||||||||||||||
Money Market Funds | 2,103,781 | — | — | 2,103,781 | ||||||||||||||||||||||
Total Investments in Securities | $ | 412,755,238 | $ | — | $ | — | $ | 412,755,238 | ||||||||||||||||||
Strive U.S. Semiconductor ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 48,050,896 | $ | — | $ | — | $ | 48,050,896 | ||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 238,277 | — | — | 238,277 | ||||||||||||||||||||||
Money Market Funds | 143,541 | — | — | 143,541 | ||||||||||||||||||||||
Total Investments in Securities | $ | 48,432,714 | $ | — | $ | — | $ | 48,432,714 |
163
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | ||||||||||||||||||||||
Strive Emerging Markets Ex-China ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 78,466,216 | $ | — | $ | — | $ | 78,466,216 | ||||||||||||||||||
Preferred Stocks | 2,451,332 | — | — | 2,451,332 | ||||||||||||||||||||||
Real Estate Investment Trusts | 132,305 | — | — | 132,305 | ||||||||||||||||||||||
Rights | 505 | — | — | 505 | ||||||||||||||||||||||
Money Market Funds | 1,037,130 | — | — | 1,037,130 | ||||||||||||||||||||||
Total Investments in Securities | $ | 82,087,488 | $ | — | $ | — | $ | 82,087,488 | ||||||||||||||||||
Strive 1000 Dividend Growth ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 31,833,018 | $ | — | $ | — | $ | 31,833,018 | ||||||||||||||||||
Real Estate Investment Trusts | 1,029,235 | — | — | 1,029,235 | ||||||||||||||||||||||
Money Market Funds | 128,866 | — | — | 128,866 | ||||||||||||||||||||||
Total Investments in Securities | $ | 32,991,119 | $ | — | $ | — | $ | 32,991,119 | ||||||||||||||||||
Strive 1000 Growth ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 46,194,130 | $ | — | $ | — | $ | 46,194,130 | ||||||||||||||||||
Real Estate Investment Trusts | 864,094 | — | — | 864,094 | ||||||||||||||||||||||
Contingent Value Rights | 0 | — | — | — | ||||||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 34,415 | — | — | 34,415 | ||||||||||||||||||||||
Money Market Funds | 437,129 | — | — | 437,129 | ||||||||||||||||||||||
Total Investments in Securities | $ | 47,529,768 | $ | — | $ | — | $ | 47,529,768 | ||||||||||||||||||
Strive 1000 Value ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 24,294,609 | $ | — | $ | — | $ | 24,294,609 | ||||||||||||||||||
Real Estate Investment Trusts | 1,005,151 | — | — | 1,005,151 | ||||||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 16,633 | — | — | 16,633 | ||||||||||||||||||||||
Money Market Funds | 302,139 | — | — | 302,139 | ||||||||||||||||||||||
Total Investments in Securities | $ | 25,618,532 | $ | — | $ | — | $ | 25,618,532 | ||||||||||||||||||
Strive Small-Cap ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 34,150,080 | $ | — | $ | — | $ | 34,150,080 | ||||||||||||||||||
Real Estate Investment Trusts | 2,399,027 | — | — | 2,399,027 | ||||||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 666,803 | — | — | 666,803 | ||||||||||||||||||||||
Money Market Funds | 250,864 | — | — | 250,864 | ||||||||||||||||||||||
Total Investments in Securities | $ | 37,466,774 | $ | — | $ | — | $ | 37,466,774 | ||||||||||||||||||
164
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | ||||||||||||||||||||||
Strive Enhanced Income Short Maturity ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Asset-backed Securities | $ | — | $ | 21,663,133 | $ | — | $ | 21,663,133 | ||||||||||||||||||
Collateralized Mortgage Obligations | — | 20,355,728 | — | 20,355,728 | ||||||||||||||||||||||
Corporate Bonds | — | 18,464,692 | — | 18,464,692 | ||||||||||||||||||||||
Collateralized Loan Obligations | — | 6,905,161 | — | 6,905,161 | ||||||||||||||||||||||
U.S. Treasury Obligations | — | 1,761,071 | — | 1,761,071 | ||||||||||||||||||||||
Money Market Funds | 2,560,895 | — | — | 2,560,895 | ||||||||||||||||||||||
U.S. Treasury Bills | — | 3,937,868 | — | 3,937,868 | ||||||||||||||||||||||
Total Investments in Securities | $ | 2,560,895 | $ | 73,087,653 | $ | — | $ | 75,648,548 | ||||||||||||||||||
Other Financial Instruments: | ||||||||||||||||||||||||||
Futures** | $ | 48,103 | $ | — | $ | — | $ | 48,103 | ||||||||||||||||||
Total Futures | $ | 48,103 | $ | — | $ | — | $ | 48,103 | ||||||||||||||||||
Strive Total Return Bond ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Mortgage-backed Securities | $ | — | $ | 33,587,600 | $ | — | $ | 33,587,600 | ||||||||||||||||||
Asset-backed Securities | — | 11,730,953 | — | 11,730,953 | ||||||||||||||||||||||
U.S. Treasury Obligations | — | 10,353,801 | — | 10,353,801 | ||||||||||||||||||||||
Corporate Bonds | — | 6,411,942 | — | 6,411,942 | ||||||||||||||||||||||
Collaterzlied Loan Obligations | — | 3,491,894 | — | 3,491,894 | ||||||||||||||||||||||
Collateralized Mortgage Obligations | — | 3,072,230 | — | 3,072,230 | ||||||||||||||||||||||
Money Market Funds | 5,500,078 | — | — | 5,500,078 | ||||||||||||||||||||||
Total Investments in Securities | $ | 5,500,078 | $ | 68,648,420 | $ | — | $ | 74,148,498 | ||||||||||||||||||
Other Financial Instruments: | ||||||||||||||||||||||||||
Futures** | $ | 555,952 | $ | — | $ | — | $ | 555,952 | ||||||||||||||||||
Total Futures | $ | 555,952 | $ | — | $ | — | $ | 555,952 | ||||||||||||||||||
Strive FAANG 2.0 ETF | ||||||||||||||||||||||||||
Assets* | ||||||||||||||||||||||||||
Common Stocks | $ | 4,173,891 | $ | — | $ | — | $ | 4,173,891 | ||||||||||||||||||
Money Market Funds | 19,508 | — | — | 19,508 | ||||||||||||||||||||||
Total Investments in Securities | $ | 4,193,399 | $ | — | $ | — | $ | 4,193,399 |
* | For further detail, see the Schedule of Investments. | |||||||
** | The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of January 31, 2024. |
165
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
During the fiscal period ended January 31, 2024, the Funds other than Strive Emerging Markets Ex-China ETF did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.
Strive Emerging Markets Ex-China ETF | |||||
Rights | |||||
Value, Beginning of Period | $275,658 | ||||
Purchases | — | ||||
Proceeds from Sales | (267,243) | ||||
Net Realized Gains (Losses) | 143,087 | ||||
Return of Capital | — | ||||
Change in Unrealized Appreciation (Depreciation) | (151,502) | ||||
Transfers In/(Out) of Level 3 | — | ||||
Value, End of Period | $ | — |
B.Derivative Transactions The value of derivative instruments on the Statements of Assets and Liabilities for the Strive Enhanced Income Short Maturity ETF and Strive Total Return Bond ETF as of January 31, 2024, was as follows:
Fund | Derivatives | Type of Derivative Risk | Statements of Assets and Liabilities Location | Fair Value of Deposit at Broker for Futures | Value of Unrealized Appreciation (Depreciation)* | ||||||||||||
Strive Enhanced Income Short Maturity ETF | Futures Contracts | Interest Rate | Deposit at Broker for Futures | $76,914 | $48,103 | ||||||||||||
Strive Total Return Bond ETF | Futures Contracts | Interest Rate | Deposit at Broker for Futures | $869,028 | $555,952 | ||||||||||||
*Represents the value of unrealized appreciation (depreciation) as presented in the Schedule of Open Futures Contracts. |
166
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
The effect of derivative instruments on the Statements of Operations for the period ended January 31, 2024 for the Strive Enhanced Income Short Maturity ETF and Strive Total Return Bond ETF was as follows:
Fund | Derivatives | Type of Derivative Risk | Location of Gain (Loss) on Derivatives in Income | Realized Gain (Loss) on Derivatives | ||||||||||
Strive Enhanced Income Short Maturity ETF | Futures Contracts | Interest Rate | Net realized gain (loss) on futures contracts | $(5,648) | ||||||||||
Strive Total Return Bond ETF | Futures Contracts | Interest Rate | Net realized gain (loss) on futures contracts | $(497,313) | ||||||||||
Fund | Derivatives | Type of Derivative Risk | Location of Gain (Loss) on Derivatives in Income | Change in Unrealized Appreciation (Depreciation) on Derivatives | ||||||||||
Strive Enhanced Income Short Maturity ETF | Futures Contracts | Interest Rate | Net change in Unrealized appreication (depreciation) on futures contracts | $48,103 | ||||||||||
Strive Total Return Bond ETF | Futures Contracts | Interest Rate | Net change in Unrealized appreication (depreciation) on futures contracts | $555,952 |
The average notional value of the long futures contracts held in the Strive Enhanced Income Short Maturity ETF during the period ended January 31, 2024 was $3,330,144 and the average notional value of the long futures contracts held in Strive Total Return Bond ETF during the period ended January 31, 2024 was $14,962,790.
167
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
Balance Sheet Offsetting Information
During the ordinary course of business, the Funds may enter into transactions subject to enforceable netting agreements or other similar arrangements (“netting agreements”). Generally, the right to offset in netting agreements allows the Funds to offset any exposure to a specific counterparty with any collateral received or delivered to that counterparty based on the terms of the agreement. Generally, the Funds manage their cash collateral and securities collateral on a counterparty basis. As of January 31, 2024, the Funds were not subject to any netting agreements.
The following table provides a summary of offsetting financial liabilities and derivatives and the effect of derivative instruments on the Statements of Assets and Liabilities as of January 31, 2024.
Strive Enhanced Income Short Maturity ETF | ||||||||||||||||||||
Gross Amounts Not Offset in Statements of Assets and Liabilities | ||||||||||||||||||||
Gross Amounts of Recognized Assets | Gross Amounts offset in Statements of Assets and Liabilities | Net Amounts of Assets Presented in Statements of Assets and Liabilities* | Financial Instruments | Cash Collateral Pledged | Net Amount | |||||||||||||||
Futures Contracts | $48,103 | $— | $48,103 | $— | $— | $48,103 | ||||||||||||||
Strive Enhanced Income Short Maturity ETF | ||||||||||||||||||||
Gross Amounts Not Offset in Statements of Assets and Liabilities | ||||||||||||||||||||
Gross Amounts of Recognized Assets | Gross Amounts offset in Statements of Assets and Liabilities | Net Amounts of Assets Presented in Statements of Assets and Liabilities* | Financial Instruments | Cash Collateral Pledged | Net Amount | |||||||||||||||
Futures Contracts | $555,952 | $— | $555,952 | $— | $— | $555,952 | ||||||||||||||
*Represents the value of unrealized appreciation (depreciation) as presented in the Schedule of Open Futures Contracts, which is included in deposit at broker for futures on the Statements of Assets and Liabilities. |
C.Foreign Currency. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts using the spot rate of exchange at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions.
The Funds isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. That portion of gains (losses) attributable to the changes in market prices and the portion of gains (losses) attributable to changes in foreign exchange rates are included on the “Statement of Operations” under “Net realized gain (loss) – Foreign currency” and “Change in Net Unrealized Appreciation (Depreciation) – Foreign Currency,” respectively. Each Fund reports net realized foreign exchange gains or losses that arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.
D.Federal Income Taxes. Each Fund intends to continue to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, as necessary to qualify as a regulated investment company and distribute substantially all net taxable investment income and net realized gains to shareholders in a manner which results in no tax cost to a Fund. Therefore, no federal income tax provision is required. As of and during the fiscal
168
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
period ended January 31, 2024, 5he Funds did not have any tax positions that did not meet the “more-likely-than-not” threshold of being sustained by the applicable tax authority. As of and during the fiscal period ended January 31, 2024, the Funds did not have liabilities for any unrecognized tax benefits. A Fund would/will recognize interest and penalties, if any, related to unrecognized tax benefits on uncertain tax positions as income tax expense in the Funds’ Statement of Operations. During the fiscal period ended January 31, 2024, the Funds did not incur any interest or penalties. Each Fund is subject to examination by U.S. taxing authorities for the tax periods since each Fund’s commencement of operations.
Each Fund may be subject to taxes imposed on realized and unrealized gains on securities of certain foreign countries in which the Fund invests. The foreign tax expense, if any, was recorded on an accrual basis and is included in “Net realized gain (loss) on investments” and “Net increase (decrease) in unrealized appreciation or depreciation on investments” on the accompanying Statements of Operations. The amount of foreign tax owed, if any, is included in “Payable for foreign taxes” on the accompanying Statements of Assets and Liabilities and is comprised of withholding taxes on foreign dividends and taxes on unrealized gains.
E.Security Transactions and Investment Income. Investment securities transactions are accounted for on the trade date. Gains and losses realized on sales of securities are determined on a specific identification basis. Dividend income is recorded on the ex-dividend date, net of any foreign taxes withheld at source. Interest income is recorded on an accrual basis. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable tax rules and regulations.
Distributions to shareholders from net investment income and from net realized gains on securities for each Fund are declared and paid on a quarterly basis. Distributions are recorded on the ex-dividend date. The Funds may distribute more frequently, if necessary, for tax purposes.
F.Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of increases and decreases in net assets from operations during the period. Actual results could differ from those estimates.
G.Share Valuation. The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds’ shares will not be priced on the days on which the New York Stock Exchange (“NYSE”) is closed for regular trading. The offering and redemption price per share for each Fund is equal to the Fund’s net asset value per share.
H.Guarantees and Indemnifications. In the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. Additionally, as is customary, the Trust’s organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. Each Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be against the Funds that have not yet occurred. As of the date of this Report, no claim has been made for indemnification pursuant to any such agreement of the Funds.
169
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
I.Reclassification of Capital Accounts. GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. In addition, the Funds realized net capital gains resulting from in-kind redemptions, in which shareholders exchanged Fund shares for securities held by the Funds rather than for cash. Because such gains are not taxable to the Funds, and are not distributed to shareholders, they have been reclassified from distributable earnings to paid-in capital. For the fiscal period ended July 31, 2023, the following table shows the reclassifications made:
Distributable Earnings | Paid-in Capital | |||||||||||||
Strive U.S. Energy ETF | $ | (10,039,714) | $ | 10,039,714 | ||||||||||
Strive 500 ETF | (1,043,410) | 1,043,410 | ||||||||||||
Strive U.S. Semiconductor ETF | (786,208) | 786,208 | ||||||||||||
Strive Emerging Markets Ex-China ETF | — | — | ||||||||||||
Strive 1000 Dividend Growth ETF | (129,346) | 129,346 | ||||||||||||
Strive 1000 Growth ETF | (44,982) | 44,982 | ||||||||||||
Strive 1000 Value ETF | (40,987) | 40,987 | ||||||||||||
Strive Small-Cap ETF | (198,789) | 198,789 | ||||||||||||
Strive Enhanced Income Short Maturity ETF(1) | — | — | ||||||||||||
Strive Total Return Bond ETF(1) | — | — | ||||||||||||
Strive FAANG 2.0 ETF(2) | — | — |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
170
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 3 – RISKS
An investment in the Funds involves risk, including those described below. There is no assurance that the Funds will achieve its investment objective. An investor may lose money by investing in the Funds. An investment in the Funds is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency.
Principal Risks | Strive 500 ETF | Strive 1000 Growth ETF | Strive 1000 Value ETF | Strive Small-Cap ETF | Strive 1000 Dividend Growth ETF | ||||||||||||
Concentration Risk | X | X | X | X | X | ||||||||||||
Consumer Discretionary Sector Risk | X | X | X | ||||||||||||||
Dividend-Paying Common Equity Security Risk | X | ||||||||||||||||
Energy Sector Risk | X | ||||||||||||||||
Equity Investing Risk | X | X | X | X | X | ||||||||||||
ETF Risks | X | X | X | X | X | ||||||||||||
Financials Sector Risk | X | X | X | ||||||||||||||
Geopolitical/Natural Disaster Risks | X | X | X | X | X | ||||||||||||
Growth Investing Risk | X | X | |||||||||||||||
Healthcare Sector Risk | X | X | X | X | |||||||||||||
Index Calculation Risk | X | X | X | X | X | ||||||||||||
Index Rebalance Risk | X | X | X | X | X | ||||||||||||
Industrials Sector Risk | X | X | X | ||||||||||||||
Investment Risk | X | X | X | X | X | ||||||||||||
Large-Cap Companies Risk | X | X | X | X | |||||||||||||
Limited Operating History Risk | X | X | X | X | X | ||||||||||||
Mid-Cap Companies Risk | X | X | X | X | |||||||||||||
Passive Investment Risk | X | X | X | X | X | ||||||||||||
REIT Risk | X | X | X | ||||||||||||||
Small-Cap Companies Risk | X | ||||||||||||||||
Technology Sector Risk | X | X | X | X | |||||||||||||
Tracking Error Risk | X | X | X | X | X | ||||||||||||
Value Investing Risk | X | ||||||||||||||||
Communications Sector Risk | X |
171
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
Principal Risks | Strive Emerging Markets Ex-China ETF | Strive U.S. Energy ETF | Strive U.S. Semi- conductor ETF | Strive FAANG 2.0 ETF | ||||||||||
Aerospace and Defense Sector Risk | X | |||||||||||||
Agricultural Sector Risk | X | |||||||||||||
Canadian Investment Risk | X | |||||||||||||
Concentration Risk | X | X | X | X | ||||||||||
Depositary Receipt Risk | X | |||||||||||||
Emerging Markets Risk | X | |||||||||||||
Energy Sector Risk | X | |||||||||||||
Equity Investing Risk | X | X | X | X | ||||||||||
ETF Risks | X | X | X | X | ||||||||||
Financials Sector Risk | X | |||||||||||||
Foreign Investment Risk | X | X | ||||||||||||
Geopolitical/Natural Disaster Risks | X | X | X | X | ||||||||||
Gold and Precious Metals Risk | X | |||||||||||||
Index Calculation Risk | X | X | X | X | ||||||||||
Index Rebalance Risk | X | X | X | X | ||||||||||
Investment Risk | X | X | X | X | ||||||||||
Large-Cap Companies Risk | X | X | X | X | ||||||||||
Limited Operating History Risk | X | X | X | |||||||||||
Mid-Cap Companies Risk | X | X | X | X | ||||||||||
Natural Resources and Commodity-Related Industries Risk | X | |||||||||||||
New Fund Risk | X | |||||||||||||
Non-Diversification Risk | X | X | X | |||||||||||
Nuclear Energy Sector Risk | X | |||||||||||||
Oil and Gas Sector Risk | X | X | ||||||||||||
Passive Investment Risk | X | X | X | X | ||||||||||
REIT Risk | X | |||||||||||||
Sampling Risk | X | |||||||||||||
Semiconductor Sector Risk | X | |||||||||||||
Technology Sector Risk | X | |||||||||||||
Tracking Error Risk | X | X | X | X |
172
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
Principal Risks | Strive Enhanced Income Short Maturity ETF | Strive Total Return Bond ETF | ||||||
Debt Securities | X | X | ||||||
Mortgage-Backed & Asset Backed Securities | X | X | ||||||
To-Be-Announced (“TBA”) Transactions Risk | X | X | ||||||
Dollar Roll Transaction | X | X | ||||||
Derivatives Risk | X | X | ||||||
LIBOR Transition | X | X | ||||||
Structured Products | X | X | ||||||
Currency | X | X | ||||||
Hedging Risk | X | X | ||||||
Defaulted Securities | X | X | ||||||
Municipal Securities | X | |||||||
Investment | X | X | ||||||
U.S. Government Securities | X | X | ||||||
Management | X | X | ||||||
High-Yield Debt Securities (Junk Bonds) | X | X | ||||||
Foreign Fixed-Income Investment | X | X | ||||||
Financial Services Sector | X | |||||||
Illiquid Investments | X | X | ||||||
Repurchase Agreement | X | X | ||||||
Reverse Repurchase Agreement | X | X | ||||||
Variable and Floating Rate Securities | X | X | ||||||
Liquidity | X | X | ||||||
Real Estate Sector | X | |||||||
Borrowing and Leverage | X | X | ||||||
Rating Agencies | X | X | ||||||
Concentration in Mortgage Loans, RMBS and CMBS | X | X |
See the Funds’ Prospectus and Statement of Additional Information regarding the risks of investing in shares of the Funds.
173
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 4 – COMMITMENTS AND OTHER RELATED PARTY TRANSACTIONS.
Empowered Funds, LLC dba EA Advisers (the “Adviser”) serves as the investment adviser to the Funds. Pursuant to an investment advisory agreement (the “Advisory Agreement”) between the Trust, on behalf of the Funds, and the Adviser, the Adviser provides investment advice to the Funds and oversees the day-to-day operations of the Funds, subject to the direction and control of the Board and the officers of the Trust. Under the Advisory Agreement, the Adviser is also responsible for arranging transfer agency, custody, fund administration and accounting, and other non-distribution related services necessary for the Funds to operate. The Adviser administers the Funds’ business affairs, provides office facilities and equipment and certain clerical, bookkeeping and administrative services. The Adviser agrees to pay all expenses incurred by the Funds except for the fee paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes (including tax-related services), interest (including borrowing costs), litigation expense (including class action-related services) and other non-routine or extraordinary expenses.
Strive Asset Management, LLC, serves as a discretionary investment sub-adviser to the Funds. Pursuant to an investment sub-advisory agreement (the “Sub-Advisory Agreement”) among the Trust, the Adviser and the Sub-Adviser, the Sub-Adviser is responsible for determining the investment exposures for the Funds, subject to the overall supervision and oversight of the Adviser and the Board.
Angel Oak Capital Advisors, LLC (“Angel Oak”) serves as a sub-adviser to the Strive Enhanced Income Short Maturity ETF and Strive Total Return Bond ETF only. Pursuant to an investment sub-advisory agreement (the “Angel Oak Sub-Advisory Agreement”) among the Trust, the Adviser and the Angel Oak, the Angel Oak is responsible for Strive’s sector allocations and duration target for each fund, subject to the overall supervision and oversight of the Sub-Adviser, Adviser and the Board.
At a Board meeting held on July 21, 2023, the Trustees including each Trustee who is not an “interested person” of the Trust, as defined in the 1940 Act, approved the Advisory Agreement and Sub-Advisory Agreement for each of the Strive Enhanced Income Short Maturity ETF, Strive Total Return Bond ETF and Strive FAANG 2.0 ETF.
The table below represents the annual rate based on average daily net assets that each Fund pays the Adviser monthly:
Strive U.S. Energy ETF | 0.41% | |||||||
Strive 500 ETF | 0.0545 | % | ||||||
Strive U.S. Semiconductor ETF | 0.40 | % | ||||||
Strive Emerging Markets Ex-China ETF | 0.32 | % | ||||||
Strive 1000 Dividend Growth ETF | 0.35 | % | ||||||
Strive 1000 Growth ETF | 0.18 | % | ||||||
Strive 1000 Value ETF | 0.18 | % | ||||||
Strive Small-Cap ETF | 0.18 | % | ||||||
Strive Enhanced Income Short Maturity ETF | 0.25 | % | ||||||
Strive Total Return Bond ETF | 0.49 | % | ||||||
Strive FAANG 2.0 ETF | 0.49 | % |
U.S. Bancorp Fund Services, LLC (“Fund Services” or “Administrator”), doing business as U.S. Bank Global Fund Services, acts as the Funds’ Administrator and, in that capacity, performs various administrative and accounting services for the Funds. The Administrator prepares various federal and state regulatory filings, reports and returns for the Funds, including regulatory compliance monitoring and financial reporting; prepares reports and materials to be supplied to the trustees; monitors the activities of the Funds’ Custodian, transfer agent and fund accountant. Fund Services also serves as the transfer agent and fund accountant to the Funds. U.S. Bank N.A. (the “Custodian”), an affiliate of the Administrator, serves as the Funds’ Custodian.
The Custodian acts as the securities lending agent (the “Securities Lending Agent”) for the Funds.
174
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 5 – SECURITIES LENDING
The Funds may lend up to 33⅓% of the value of the securities in their portfolios to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending program administered by the Securities Lending Agent. The securities lending agreement requires that loans are collateralized at all times in an amount equal to at least 102% of the value of any domestic loaned securities at the time of the loan, plus accrued interest. The use of loans of foreign securities, which are denominated and payable in U.S. dollars, shall be collateralized in an amount equal to 105% of the value of any loaned securities at the time of the loan plus accrued interest. The Funds receive compensation in the form of fees and earn interest on the cash collateral. The amount of fees depends on a number of factors including the type of security and length of the loan. The Funds continue to receive interest payments or dividends on the securities loaned during the borrowing period. Gain or loss on the value of securities loaned that may occur during the term of the loan will be for the account of the Funds. The Funds have the right under the terms of the securities lending agreement to recall the securities from the borrower on demand.
The securities lending agreement provides that, in the event of a borrower’s material default, the Securities Lending Agent shall take all actions the Securities Lending Agent deems appropriate to liquidate the collateral, purchase replacement securities at the Securities Lending Agent’s expense, or pay the Fund an amount equal to the market value of the loaned securities, subject to certain limitations which are set forth in detail in the securities lending agreement between the Funds and the Securities Lending Agent.
As of the end of the current fiscal period, certain Funds had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with the Trust approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Funds could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Funds are indemnified from this risk by contract with the Securities Lending Agent.
As of the end of the current fiscal period, the values of the securities on loan and payable for collateral due to broker for the Funds were as follows:
Value of Securities on Loan | Payable for Collateral Received* | Percentage of Net Assets of Securities On Loan | ||||||||||||||||||
Strive U.S. Energy ETF | $ | 727,167 | $ | 781,359 | 0.23 | % | ||||||||||||||
Strive 500 ETF | 58,849 | 63,107 | 0.01 | % | ||||||||||||||||
Strive U.S. Semiconductor ETF | 226,847 | 238,277 | 0.47 | % | ||||||||||||||||
Strive Emerging Markets Ex-China ETF | — | — | — | % | ||||||||||||||||
Strive 1000 Dividend Growth ETF | — | — | — | % | ||||||||||||||||
Strive 1000 Growth ETF | 32,197 | 34,415 | 0.07 | % | ||||||||||||||||
Strive 1000 Value ETF | 15,592 | 16,633 | 0.06 | % | ||||||||||||||||
Strive Small-Cap ETF | 624,756 | 666,803 | 1.70 | % | ||||||||||||||||
Strive Enhanced Income Short Maturity ETF | — | — | — | % | ||||||||||||||||
Strive Total Return Bond ETF | — | — | — | % | ||||||||||||||||
Strive FAANG 2.0 ETF | — | — | — | % |
* | The cash collateral received was invested in the First American Money Market Government Obligations Fund as shown on the Schedule of Investments. The investment objective is to seek maximum current income to the extent consistent with the preservation of capital and maintenance of liquidity. |
175
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
The interest income earned by the Funds on the investment of cash collateral received from borrowers for the securities loaned to them (“Securities Lending Income, Net”) is reflected in the Funds’ Statement of Operations. Net securities lending income earned on collateral investments and recognized by the Funds during the fiscal period, were as follows:
Strive U.S. Energy ETF | $ | 78 | ||||||
Strive 500 ETF | 2,822 | |||||||
Strive U.S. Semiconductor ETF | 569 | |||||||
Strive Emerging Markets Ex-China ETF | — | |||||||
Strive 1000 Dividend Growth ETF | 514 | |||||||
Strive 1000 Growth ETF | 273 | |||||||
Strive 1000 Value ETF | 565 | |||||||
Strive Small-Cap ETF | 10,111 | |||||||
Strive Enhanced Income Short Maturity ETF | — | |||||||
Strive Total Return Bond ETF | — | |||||||
Strive FAANG 2.0 ETF | — |
NOTE 6 – PURCHASES AND SALES OF SECURITIES
For the fiscal period ended January 31, 2024, purchases and sales of securities for the Fund, excluding short-term securities and in-kind transactions, were as follows:
Purchases | Sales | |||||||||||||
Strive U.S. Energy ETF | $ | 13,872,591 | $ | 11,238,285 | ||||||||||
Strive 500 ETF | 20,746,468 | 7,661,250 | ||||||||||||
Strive U.S. Semiconductor ETF | 5,865,263 | 1,580,122 | ||||||||||||
Strive Emerging Markets Ex-China ETF | 48,319,563 | 104,134,941 | ||||||||||||
Strive 1000 Dividend Growth ETF | 1,094,962 | 274,278 | ||||||||||||
Strive 1000 Growth ETF | 2,828,189 | 2,248,146 | ||||||||||||
Strive 1000 Value ETF | 2,389,986 | 2,189,307 | ||||||||||||
Strive Small-Cap ETF | 6,536,011 | 6,013,423 | ||||||||||||
Strive Enhanced Income Short Maturity ETF | 77,528,428 | 9,024,823 | ||||||||||||
Strive Total Return Bond ETF | 85,204,692 | 18,134,305 | ||||||||||||
Strive FAANG 2.0 ETF | 626,562 | 130,585 |
176
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
For the fiscal period ended January 31, 2024, in-kind transactions associated with creations and redemptions were as follows:
Purchases | Sales | |||||||||||||
Strive U.S. Energy ETF | $ | 3,448,857 | $ | 24,384,424 | ||||||||||
Strive 500 ETF | 134,337,390 | 11,323,807 | ||||||||||||
Strive U.S. Semiconductor ETF | 7,922,304 | 4,280,047 | ||||||||||||
Strive Emerging Markets Ex-China ETF | 1,680,113 | 12,187,042 | ||||||||||||
Strive 1000 Dividend Growth ETF | 8,260,430 | 126,503 | ||||||||||||
Strive 1000 Growth ETF | 14,424,577 | 283,492 | ||||||||||||
Strive 1000 Value ETF | 8,777,022 | 1,235,661 | ||||||||||||
Strive Small-Cap ETF | 17,608,114 | 5,688,889 | ||||||||||||
Strive Enhanced Income Short Maturity ETF | — | — | ||||||||||||
Strive Total Return Bond ETF | — | — | ||||||||||||
Strive FAANG 2.0 ETF | 4,175,795 | 481,732 |
For the fiscal period ended January 31, 2024, short-term and long-term gains on in-kind transactions were as follows:
Short Term | Long Term | |||||||||||||
Strive U.S. Energy ETF | $ | 936,004 | $ | 1,929,820 | ||||||||||
Strive 500 ETF | 1,721,946 | 1,042,265 | ||||||||||||
Strive U.S. Semiconductor ETF | 1,464,995 | 109,257 | ||||||||||||
Strive Emerging Markets Ex-China ETF | (214,827) | — | ||||||||||||
Strive 1000 Dividend Growth ETF | 392 | 53,597 | ||||||||||||
Strive 1000 Growth ETF | 27,416 | 66,345 | ||||||||||||
Strive 1000 Value ETF | 214,678 | — | ||||||||||||
Strive Small-Cap ETF | 1,090,195 | 114,366 | ||||||||||||
Strive Enhanced Income Short Maturity ETF | — | — | ||||||||||||
Strive Total Return Bond ETF | — | — | ||||||||||||
Strive FAANG 2.0 ETF | 36,322 | — |
There were no purchases or sales of U.S. Government securities during the fiscal period ended January 31, 2024 except for the following:
Purchases | Sales | |||||||
Strive Enhanced Income Short Maturity ETF | $ | 1,931,289 | $ | 192,602 | ||||
Strive Total Return Bond ETF | 10,876,790 | 751,240 |
177
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 7 – TAX INFORMATION
The components of tax basis cost of investments and net unrealized appreciation (depreciation) for federal income tax purposes at July 31, 2023 were as follows:
Strive U.S. Energy ETF | Strive 500 ETF | Strive U.S. Semiconductor ETF | ||||||||||||
Tax cost of Investments | $ | 340,403,747 | $ | 221,704,573 | $ | 28,049,070 | ||||||||
Gross tax unrealized appreciation | 30,816,758 | 33,925,270 | 9,181,233 | |||||||||||
Gross tax unrealized depreciation | (11,149,197) | (3,949,808) | (611,099) | |||||||||||
Net tax unrealized appreciation (depreciation) | $ | 19,667,561 | $ | 29,975,462 | $ | 8,570,134 | ||||||||
Undistributed ordinary income | 331,591 | 229,083 | 7,771 | |||||||||||
Undistributed long-term gain | — | — | — | |||||||||||
Total distributable earnings | 331,591 | 229,083 | 7,771 | |||||||||||
Other accumulated gain (loss) | (1,150,819) | (198,132) | (21,854) | |||||||||||
Total accumulated gain (loss) | $ | 18,848,333 | $ | 30,006,413 | $ | 8,556,051 | ||||||||
Strive Emerging Markets Ex-China ETF | Strive 1000 Dividend Growth ETF | Strive 1000 Growth ETF | ||||||||||||
Tax cost of Investments | $ | 145,141,793 | $ | 20,982,610 | $ | 25,830,280 | ||||||||
Gross tax unrealized appreciation | 13,609,074 | 1,773,257 | 3,383,844 | |||||||||||
Gross tax unrealized depreciation | (4,845,314) | (354,258) | (237,646) | |||||||||||
Net tax unrealized appreciation (depreciation) | $ | 8,763,760 | $ | 1,418,999 | $ | 3,146,198 | ||||||||
Undistributed ordinary income | 786,005 | 21,019 | 11,319 | |||||||||||
Undistributed long-term gain | — | — | — | |||||||||||
Total distributable earnings | 786,005 | 21,019 | 11,319 | |||||||||||
Other accumulated gain (loss) | (174,713) | (41,818) | (5,319) | |||||||||||
Total accumulated gain (loss) | $ | 9,375,052 | $ | 1,398,200 | $ | 3,152,198 | ||||||||
Strive 1000 Value ETF | Strive Small-Cap ETF | |||||||||||||
Tax cost of Investments | $ | 16,179,867 | $ | 22,164,642 | ||||||||||
Gross tax unrealized appreciation | 1,297,658 | 2,504,780 | ||||||||||||
Gross tax unrealized depreciation | (383,998) | (644,257) | ||||||||||||
Net tax unrealized appreciation (depreciation) | $ | 913,660 | $ | 1,860,523 | ||||||||||
Undistributed ordinary income | 33,009 | 19,759 | ||||||||||||
Undistributed long-term gain | — | — | ||||||||||||
Total distributable earnings | 33,009 | 19,759 | ||||||||||||
Other accumulated gain (loss) | (19,136) | (42,525) | ||||||||||||
Total accumulated gain (loss) | $ | 927,533 | $ | 1,837,757 | ||||||||||
The difference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in REITs, partnerships, passive foreign investment companies and wash sales. Under tax law, certain capital and foreign currency losses realized after October 31 and within the taxable year are deemed to arise on the first business day of the Fund’s next taxable year.
For the fiscal period ended July 31, 2023, the Funds did not defer any Post-October capital losses or qualified late year losses.
178
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
At July 31, 2023, the Funds had the following capital loss carryforwards:
Unlimited Short-Term | Unlimited Long-Term | |||||||||||||
Strive U.S. Energy ETF | $ | (1,150,819) | $ | — | ||||||||||
Strive 500 ETF | (198,132) | — | ||||||||||||
Strive U.S. Semiconductor ETF | (21,854) | — | ||||||||||||
Strive Emerging Markets Ex-China ETF | (174,713) | — | ||||||||||||
Strive 1000 Dividend Growth ETF | (41,818) | — | ||||||||||||
Strive 1000 Growth ETF | (5,319) | — | ||||||||||||
Strive 1000 Value ETF | (19,136) | — | ||||||||||||
Strive Small-Cap ETF | (42,525) | — | ||||||||||||
Strive Enhanced Income Short Maturity ETF(1) | — | — | ||||||||||||
Strive Total Return Bond ETF(1) | — | — | ||||||||||||
Strive FAANG 2.0 ETF(2) | — | — |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
NOTE 8 – DISTRIBUTIONS TO SHAREHOLDERS
The tax character of distributions paid by the Fund during the fiscal periods ended January 31, 2024 and July 31, 2023, were as follows:
Fiscal Period Ended January 31, 2024 | Fiscal Period Ended July 31, 2023 | ||||||||||
Ordinary Income | Ordinary Income | ||||||||||
Strive U.S. Energy ETF | $ | 4,991,269 | $ | 9,891,239 | |||||||
Strive 500 ETF | 2,225,553 | 1,419,614 | |||||||||
Strive U.S. Semiconductor ETF | 140,476 | 137,017 | |||||||||
Strive Emerging Markets Ex-China ETF | 1,303,510 | 462,914 | |||||||||
Strive 1000 Dividend Growth ETF | 236,668 | 84,274 | |||||||||
Strive 1000 Growth ETF | 140,564 | 43,091 | |||||||||
Strive 1000 Value ETF | 280,036 | 102,472 | |||||||||
Strive Small-Cap ETF | 254,778 | 67,734 | |||||||||
Strive Enhanced Income Short Maturity ETF(1) | 1,254,908 | — | |||||||||
Strive Total Return Bond ETF(1) | 1,291,282 | — | |||||||||
Strive FAANG 2.0 ETF(2) | 17,881 | — |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
179
STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
January 31, 2024 (Unaudited)
January 31, 2024 (Unaudited)
NOTE 9 – SUBSEQUENT EVENTS
In preparing these financial statements, management of the Funds have evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. There were no transactions that occurred during the period subsequent to January 31, 2024, that materially impacted the amounts or disclosures in the Funds’ financial statements other than the below.
Effective on or about March 21, 2024, the Strive U.S. Semiconductors ETF index will change from the Solactive United States Semiconductors 30 Capped Index to the Bloomberg US Listed Semiconductors Select Index.
Effective on or about April 11, 2024, the Strive U.S. Energy ETF index will change from the Solactive United States Energy Regulated Capped Index to the Bloomberg US Energy Select Index.
180
STRIVE ETFs
EXPENSE EXAMPLE
January 31, 2024 (Unaudited)
As a shareholder of the each Fund you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of Fund shares, and (2) ongoing costs, including management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the most recent six-month period and held the entire period as indicated below.
Actual Expenses
The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period ” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund’s and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. If these transactional costs were included, your costs would have been higher. The information assumes the reinvestment of all dividends and distributions.
Annualized Expense Ratio | Beginning Account Value | Ending Account Value | Expenses Paid During the Period | ||||||||||||||||||||
Strive U.S. Energy ETF¹ | |||||||||||||||||||||||
Actual | 0.41 | % | $ | 1,000.00 | $ | 959.60 | $ | 2.02 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.41 | % | 1,000.00 | 1,023.08 | 2.08 | ||||||||||||||||||
Strive 500 ETF¹ | |||||||||||||||||||||||
Actual | 0.0545 | % | $ | 1,000.00 | $ | 1,067.90 | $ | 0.28 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.0545 | % | 1,000.00 | 1,024.86 | 0.28 | ||||||||||||||||||
Strive U.S. Semiconductor ETF¹ | |||||||||||||||||||||||
Actual | 0.40 | % | $ | 1,000.00 | $ | 1,082.80 | $ | 2.09 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.40 | % | 1,000.00 | 1,023.13 | 2.03 | ||||||||||||||||||
Strive Emerging Markets Ex-China ETF¹ | |||||||||||||||||||||||
Actual | 0.32 | % | $ | 1,000.00 | $ | 1,011.60 | $ | 1.64 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.32 | % | 1,000.00 | 1,023.51 | 1.65 | ||||||||||||||||||
Strive 1000 Dividend Growth ETF¹ | |||||||||||||||||||||||
Actual | 0.35 | % | $ | 1,000.00 | $ | 1,051.20 | $ | 1.80 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.35 | % | 1,000.00 | 1,023.38 | 1.78 |
181
STRIVE ETFs
EXPENSE EXAMPLE (CONTINUED)
January 31, 2024 (Unaudited)
Annualized Expense Ratio | Beginning Account Value | Ending Account Value | Expenses Paid During the Period | ||||||||||||||||||||
Strive 1000 Growth ETF¹ | |||||||||||||||||||||||
Actual | 0.18 | % | $ | 1,000.00 | $ | 1,079.00 | $ | 0.94 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.18 | % | 1,000.00 | 1,024.23 | 0.92 | ||||||||||||||||||
Strive 1000 Value ETF¹ | |||||||||||||||||||||||
Actual | 0.18 | % | $ | 1,000.00 | $ | 1,028.40 | $ | 0.92 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.18 | % | 1,000.00 | 1,024.23 | 0.92 | ||||||||||||||||||
Strive Small-Cap ETF¹ | |||||||||||||||||||||||
Actual | 0.18 | % | $ | 1,000.00 | $ | 1,002.00 | $ | 0.91 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.18 | % | 1,000.00 | 1,024.23 | 0.92 | ||||||||||||||||||
Strive Enhanced Income Short Maturity ETF2 | |||||||||||||||||||||||
Actual | 0.25 | % | $ | 1,000.00 | $ | 1,034.90 | $ | 1.22 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.25 | % | 1,000.00 | 1,023.88 | 1.27 | ||||||||||||||||||
Strive Total Return Bond ETF2 | |||||||||||||||||||||||
Actual | 0.49 | % | $ | 1,000.00 | $ | 1,043.10 | $ | 2.39 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.49 | % | 1,000.00 | 1,022.67 | 2.49 | ||||||||||||||||||
Strive FAANG 2.0 ETF3 | |||||||||||||||||||||||
Actual | 0.49 | % | $ | 1,000.00 | $ | 987.60 | $ | 2.05 | |||||||||||||||
Hypothetical (5% annual return before expenses) | 0.49 | % | 1,000.00 | 1,022.67 | 2.49 | ||||||||||||||||||
1. The dollar amounts shown as expenses paid during the period are equal to the annualized six-month expense ratio multiplied by the average account value during the period, multiplied by 184/366, to reflect the one-half year period. | ||
2. The inception date for the Strive Enhanced Income Short Maturity ETF and Strive Total Return Bond ETF was August 10, 2023. Actual expenses paid during the period are equal to the annualized net expense ratio, multiplied by the average account value over the period, multiplied by 175/366 to reflect the period. Hypothetical expenses paid during the period are equal to the annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/366 to reflect the period. | ||
3. The inception date for the Strive FAANG 2.0 ETF was August 31, 2023. Actual expenses paid during the period are equal to the annualized net expense ratio, multiplied by the average account value over the period, multiplied by 154/366 to reflect the period. Hypothetical expenses paid during the period are equal to the annualized net expense ratio, multiplied by the average account value over the period, multiplied by 184/366 to reflect the period. |
182
STRIVE ETFs
REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM (UNAUDITED)
Pursuant to Rule 22e-4 under the Investment Company Act of 1940, the Trust, on behalf of the series of the Trust covered by this shareholder report (each a “Fund”, and collectively, the “Funds”), has adopted a liquidity risk management program (“the Program”) to govern the Trust’s approach to managing liquidity risk. Rule 22e-4 seeks to promote effective liquidity risk management, thereby reducing the risk that a Fund will be unable to meet its redemption obligations and mitigating dilution of the interests of fund shareholders. The Trust’s liquidity risk management program is tailored to reflect each Fund’s particular risks, but not to eliminate all adverse impacts of liquidity risk, which would be incompatible with the nature of the Fund.
The Trust’s Board of Trustees has designated the Chief Operating Officer of the Adviser as the Program Administrator, responsible for administering the Program and its policies and procedures.
At the June 9, 2023, meeting of the Board of Trustees of the Trust, the Program Administrator provided the Trustees with a report pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the period ended March 31, 2023. The report concluded that the Program appeared effectively tailored to identify potential illiquid scenarios and to enable the Funds to deliver appropriate reporting. In addition, the report concluded that the Program is adequately operating, and its implementation has been effective. The report reflected that there were no liquidity events that impacted the Funds’ ability to timely meet redemptions without dilution to existing shareholders. The report further described material changes that were made to the Program since its implementation.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding the Funds’ exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.
183
STRIVE ETFs
FEDERAL TAX INFORMATION (UNAUDITED)
For the fiscal period ended July 31, 2023, certain dividends paid by the Funds may be subject to a maximum tax rate of 23.8%, as provided for by the Tax Cuts and Jobs Act of 2017. The percentage of dividends declared from ordinary income designated as qualified dividend income were as follows:
Strive U.S. Energy ETF | 100.00% | |||||||
Strive 500 ETF | 97.13% | |||||||
Strive U.S. Semiconductor ETF | 100.00% | |||||||
Strive Emerging Markets Ex-China ETF | 60.10% | |||||||
Strive 1000 Dividend Growth ETF | 100.00% | |||||||
Strive 1000 Growth ETF | 100.00% | |||||||
Strive 1000 Value ETF | 96.54% | |||||||
Strive Small-Cap ETF | 74.13% | |||||||
Strive Enhanced Income Short Maturity ETF(1) | — | |||||||
Strive Total Return Bond ETF(1) | — | |||||||
Strive FAANG 2.0 ETF(2) | — |
For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal period ended July 31, 2023 were as follows:
Strive U.S. Energy ETF | 100.00% | |||||||
Strive 500 ETF | 93.95% | |||||||
Strive U.S. Semiconductor ETF | 100.00% | |||||||
Strive Emerging Markets Ex-China ETF | 0.24% | |||||||
Strive 1000 Dividend Growth ETF | 100.00% | |||||||
Strive 1000 Growth ETF | 100.00% | |||||||
Strive 1000 Value ETF | 93.89% | |||||||
Strive Small-Cap ETF | 68.41% | |||||||
Strive Enhanced Income Short Maturity ETF(1) | — | |||||||
Strive Total Return Bond ETF(1) | — | |||||||
Strive FAANG 2.0 ETF(2) | — |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
184
STRIVE ETFs
FEDERAL TAX INFORMATION (UNAUDITED) (CONTINUED)
SHORT TERM CAPITAL GAIN
The percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under the Internal Revenue Section 871 (k)(2)(C) for the fiscal period ended July 31, 2023 were as follows:
Strive U.S. Energy ETF | 0.00% | |||||||
Strive 500 ETF | 0.00% | |||||||
Strive U.S. Semiconductor ETF | 0.00% | |||||||
Strive Emerging Markets Ex-China ETF | 0.00% | |||||||
Strive 1000 Dividend Growth ETF | 0.00% | |||||||
Strive 1000 Growth ETF | 0.00% | |||||||
Strive 1000 Value ETF | 0.00% | |||||||
Strive Small-Cap ETF | 0.00% | |||||||
Strive Enhanced Income Short Maturity ETF(1) | — | |||||||
Strive Total Return Bond ETF(1) | — | |||||||
Strive FAANG 2.0 ETF(2) | — |
(1) The Fund commenced operations on August 10, 2023. | ||
(2) The Fund commenced operations on August 31, 2023. |
185
STRIVE ETFs
MANAGEMENT OF THE FUND
Trustees and Officers
The business and affairs of the Trust are managed by its officers under the oversight of its Board. The Board sets broad policies for the Trust and may appoint Trust officers. The Board oversees the performance of the Adviser, the Sub-Adviser, and the Trust’s other service providers. Each Trustee serves until his or her successor is duly elected or appointed and qualified.
The Board is comprised of four Trustees. One Trustee and certain of the officers of the Trust are directors, officers or employees of the Adviser. The other Trustees (the “Independent Trustees”) are not “interested persons” (as defined in Section 2(a)(19) of the Investment Company Act) of the Trust. The fund complex includes all funds advised by the Adviser (“Fund Complex”).
The Trustees, their age, term of office and length of time served, their principal business occupations during the past five years, the number of portfolios in the Fund Complex overseen and other directorships, if any, held by each Trustee, are shown below. The officers, their age, term of office and length of time served and their principal business occupations during the past five years are shown below.
The address of each Trustee and each Officer is: c/o EA Series Trust, 19 East Eagle Road, Havertown, PA 19083.
Name and Year of Birth | Position(s) Held with Trust | Term of Office and Length of Time Served | Principal Occupation During Past 5 Years | Number of Funds in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee During Past 5 Years | ||||||||||||
Independent Trustees | |||||||||||||||||
Daniel Dorn Born: 1975 | Trustee | Indefinite term; Since 2014 | Associate Professor of Finance, Drexel University, LeBow College of Business (2003–present). | 49 | None | ||||||||||||
Michael S. Pagano, Ph.D., CFA® Born: 1962 | Trustee and Audit Committee Chairman | Indefinite term; Since 2014 | The Robert J. and Mary Ellen Darretta Endowed Chair in Finance, Villanova University (1999–present); Founder, Michael S. Pagano, LLC (business consulting firm) (2008–present). | 49 | Citadel Federal Credit Union (pro bono service for non-profit) | ||||||||||||
Chukwuemeka (Emeka) O. Oguh Born: 1983 | Trustee | Indefinite term; Since 2018 | Co-founder and CEO, PeopleJoy (2016–present). | 49 | None | ||||||||||||
Interested Trustee* | |||||||||||||||||
Wesley R. Gray, Ph.D. Born: 1980 | Trustee and Chairman | Indefinite term; Since 2014; President (2014 – 2023) | Founder and Executive Managing Member, EA Advisers (2013–present); Founder and Executive Managing Member, Empirical Finance, LLC d/b/a Alpha Architect (2010–present). | 49 | None |
* Dr. Gray is an “interested person,” as defined by the Investment Company Act, because of his employment with and ownership interest in the Adviser.
Additional information about the Affiliated Trustee and Independent Trustee is available in the Statement of Additional Information (SAI).
186
STRIVE ETFs
MANAGEMENT OF THE FUND (CONTINUED)
Officers
Name and Year of Birth | Position(s) Held with Trust | Term of Office and Length of Time Served | Principal Occupation During Past 5 Years | ||||||||
Patrick R. Cleary Born: 1982 | President and Chief Executive Officer | Since 2023; Chief Compliance Officer (2015 – 2022); Secretary (2015 – 2023) | Chief Operating Officer and Managing Member, Alpha Architect (2014 – present); Chief Executive Officer of EA Advisers (2021 – present). | ||||||||
Alyssa M. Bernard Born: 1988 | Secretary | Since 2023 | General Counsel, EA Advisers (October 2023–present); Vice President—Regulatory Administration, U.S. Bank Global Fund Services (2021–2023); Assistant Vice President—Regulatory Administration, U.S. Bank Global Fund Services (2018–2021). | ||||||||
Sean Hegarty Born: 1993 | Treasurer, Chief Financial Officer and Comptroller | Since 2023; Assistant Treasurer (2022 – 2023) | Chief Operating Officer, EA Advisers (2022–present); Assistant Vice President—Fund Administration, U.S. Bank Global Fund Services (2018–2022); Staff Accountant, Cohen & Company (2015–2018). | ||||||||
Jessica Leighty Born: 1981 | Chief Compliance Officer | Since 2022 | Chief Compliance Officer, EA Advisers (2021–present); Chief Compliance Officer, Alpha Architect (2021 – present); Chief Compliance Officer, Snow Capital (2015–2021). | ||||||||
Brian P. Massaro Born: 1997 | Assistant Treasurer | Since 2023 | Chief Technology Officer, EA Advisers (2023 – present); Assistant Operating Officer, EA Advisers (2022 – present); Mutual Funds Administrator, U.S. Bank Global Fund Services (2019–2022). |
187
STRIVE ETFs
BOARD REVIEW AND APPROVAL OF ADVISORY AND SUB-ADVISORY AGREEMENT (UNAUDITED) |
The Board (the members of which are referred to as “Trustees”) of the EA Series Trust (the “Trust”) met virtually on July 21, 2023, to consider the approval of Advisory Agreement between the Trust, on behalf of the Strive Enhanced Income Short Maturity ETF, Strive Total Return Bond ETF and Strive FAANG 2.0 ETF (each a “Fund” and collectively the “Funds”), and Empowered Funds, LLC (the “Adviser”), as well as to consider the approval of each Sub-Advisory Agreement between the Adviser, Strive Asset Management, LLC and Angel Oak Capital Management, LLC (each a “Sub-Adviser” or collectively, the “Sub-Advisers”). In accordance with Section 15(c) of the 1940 Act, the Board requested, reviewed and considered materials furnished by the Adviser and Sub-Adviser relevant to the Board’s consideration of whether to approve the Advisory Agreement and Sub-Advisory Agreement. In connection with considering approval of both the Advisory Agreement and Sub-Advisory Agreement, the Trustees who are not “interested persons” of the Trust, as that term is defined in the 1940 Act (the “Independent Trustees”), met in executive session with counsel to the Trust, who provided assistance and advice. In reaching the decision to approve both the Advisory Agreement and Sub-Advisory Agreement, the Board considered and reviewed information provided by the Adviser and Sub-Adviser, including among other things information about its personnel, operations, financial condition, and compliance and risk management. The Board also reviewed copies of the proposed Advisory Agreement and Sub-Advisory Agreement. During their review and consideration, the Board focused on and reviewed the factors they deemed relevant, including:
Nature, Quality and Extent of Services. The Board was presented and considered information concerning the nature, quality and extent of the overall services expected to be provided by the Adviser to the Strive FAANG 2.0 ETF (“FTWO”), Strive Total Return Bond ETF (“STXT”), and Strive Enhanced Income Short Maturity ETF (“BUXX”) (each a “New Fund” and collectively, the “New Funds”). In this connection, the Board considered the responsibilities of the Adviser, recognizing that the Adviser had invested significant time and effort in structuring the Trust and the New Funds, and arranging service providers for the New Funds. In addition, the Board considered that the Adviser is responsible for providing investment advisory oversight services to the New Funds, executing all New Fund transactions (excluding those on behalf of STXT and BUXX), monitoring compliance with the New Funds’ objectives, policies and restrictions, and carrying out directives of the Board. The Board also considered the services expected to be provided by the Adviser in the oversight of the Trust’s administrator, transfer agent and custodian. In addition, the Board evaluated the integrity of each of the Adviser’s, the Strive Sub-Adviser’s and the AOCA Sub-Adviser’s personnel, the experience of the portfolio managers in managing assets and the adequacy of each of the Adviser’s, the Strive Sub-Adviser’s, and the AOCA Sub-Adviser’s resources. The Board also considered the Adviser’s ongoing oversight responsibilities vis-à-vis the Strive Sub-Adviser and the AOCA Sub-Adviser. The Board also considered that the Strive Sub-Adviser would provide its services to the New Funds as a discretionary investment sub-adviser. The Board considered that AOCA Sub-Adviser provides its services to STXT and BUXX on a discretionary basis and will be responsible for portfolio implementation and security selection based on the yield curve and duration recommendations from Strive Sub-Adviser.
Performance. Performance information was not available for each New Fund as each had not yet commenced operations.
Comparative Fees and Expenses. In considering the advisory fees and sub-advisory fees, the Board reviewed and considered the fees in light of the nature, quality and extent of the services expected to be provided by the Adviser, the Strive Sub-Adviser and the AOCA Sub-Adviser, respectively. With respect to the advisory fees and expense ratios for the New Funds, the Board also considered the fees and expense ratios versus the fees and expenses charged to other exchange-traded funds and mutual funds. The Board noted that, as it relates to FWTO, the Fund’s expense ratio and management fee were both below the average expense ratio and management fee when compared to its respective ETF and mutual fund peer groups. The Board noted that, as it relates to STXT, the Fund’s expense ratio was above the average expense ratio for its ETF peer group but below the average expense ratio for its mutual fund peer group. As it relates to STXT’s management fee, the Fund’s management fee was above both its ETF and mutual fund peer groups average management fee. The Board noted that, as it relates to BUXX, the Fund’s expense ratio was equal to the average expense ratio for its ETF peer group but below the average expense ratio for its mutual fund peer group. As it relates to BUXX’s management fee, the Fund’s management fee was above the average management fee for its ETF peer group but below the average management fee for its mutual fund peer group. The Board noted that many of the peers under consideration were large and likely enjoyed economies of scale that are not currently available to the Adviser and the Sub-Advisers. With respect to the sub-advisory fees, the Board noted that they were payable solely out of the unitary management fee payable to the Adviser. For FWTO the Adviser also presented two sets of independent peer analyses – the first being a mix of active and passive funds, with the second being an
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STRIVE ETFs
BOARD REVIEW AND APPROVAL OF ADVISORY AND SUB-ADVISORY AGREEMENT (UNAUDITED) (CONTINUED)
active only peer group. For STXT and BUXX the Adviser provided two sets of independent peer analysis – the first including
active ETFs that are classified as total return bond funds or short-term bond funds, respectively, with the second being active mutual funds that are classified as total return bond funds or short-term bond funds, respectively. With respect to the sub-advisory fees, the Board noted that they were payable solely out of the unitary management fee payable to the Adviser. The Board also considered the allocation of fees among the Adviser and the Strive Sub-Adviser.
The Board considered, among other information, the data provided in the third-party report. Fee information was provided in quartiles, ranging from quartile one (the least expensive) to quartile four (the most expensive). This data included a comparison of the New Funds anticipated expense ratio against funds that were both exchanged-traded funds and mutual funds. The Board was agreeable to the fee levels.
Costs and Profitability. The Board further considered information regarding the potential profits, if any, that may be realized by each of the Adviser, the Strive Sub-Adviser and the AOCA Sub-Adviser (as applicable) in connection with providing their respective services to each New Fund. The Board reviewed estimated profit and loss information provided by the Adviser with respect to each New Fund and estimated data regarding the proposed sub-advisory fees. The Board also reviewed the costs associated with the personnel, systems and equipment necessary to manage each New Fund and to meet the regulatory and compliance requirements adopted by the SEC and other regulatory bodies. The Board also considered other expenses the Adviser would pay in accordance with the Advisory Agreement. The Board took into consideration that the Adviser agreed to pay all expenses incurred by each New Fund except for the fees paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing costs), litigation expenses and other non-routine or extraordinary expenses. The Board also considered the respective financial obligations of the Adviser, the Strive Sub-Adviser, as the sponsor of each New Fund and the AOCA Sub-Adviser as it relates to STXT and BUXX. They also considered each New Fund’s projected asset totals. It was also noted that Strive continues to invest in it sales team and has recently added more compliance experience to its team.
Other Benefits. The Board further considered the extent to which the Adviser, the Strive Sub-Adviser or the AOCA Sub-Adviser might derive ancillary benefits from each New Fund’s operations. For example, the Adviser may engage in soft dollar transactions in the future, although it did not currently plan to do so. In addition, the Adviser may benefit from continued growth in the Trust by potentially negotiating better fee arrangements with key vendors serving the Funds.
Economies of Scale. The Board also considered whether economies of scale would be realized by each New Fund as its assets grow larger, including the extent to which this is reflected in the level of fees to be charged. The Board also noted that the proposed advisory and sub-advisory fees for FTWO do not include breakpoints but concluded that it was premature to meaningfully evaluate potential economies of scale. The Board further noted that the proposed AOCA sub-advisory fees for STXT and BUXX include breakpoints that could potentially benefit the Adviser as each Fund grows its assets.
Conclusion. No single factor was determinative of the Board’s decision to approve the Advisory Agreement, the Strive Sub-Advisory Agreement and the AOCA Sub-Advisory Agreement; rather, the Board based its determination on the total mix of information available to it. Based on a consideration of all the factors in their totality, the Board, including a majority of the Independent Trustees, approved each of the Advisory Agreement and Sub-Advisory Agreements, including the compensation payable under each Agreement.
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STRIVE ETFs
INFORMATION ABOUT PORTFOLIO HOLDINGS (UNAUDITED)
The Funds file their complete schedules of portfolio holdings for their first and third fiscal quarters with the Securities and Exchange Commission (“SEC”) on Part F of Form N-PORT. The Funds’ Form N-PORT is available without charge, upon request, by calling (215) 882-9983. Furthermore, you may obtain the Form N-PORT on the SEC’s website at www.sec.gov. Each Funds’ portfolio holdings are posted on their website at https://strivefunds.com/.
INFORMATION ABOUT PROXY VOTING (UNAUDITED)
A description of the policies and procedures the Funds use to determine how to vote proxies relating to portfolio securities is provided in the Statement of Additional Information (“SAI”). The SAI is available without charge upon request by calling (215) 882-9983, by accessing the SEC’s website at www.sec.gov, or by accessing the Funds’ website at https://strivefunds.com/.
When available, information regarding how the Funds voted proxies relating to portfolio securities during the twelve months ending June 30 is (1) available by calling (215) 882-9983 and (2) the SEC’s website at www.sec.gov.
FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS (UNAUDITED)
Information regarding how often shares of each Fund trade on an exchange at a price above (i.e., at premium) or below (i.e., at a discount) the NAV of each Fund is available, without charge, on the Funds’ website at https://strivefunds.com/.
PRIVACY POLICY (UNAUDITED)
EA Series Trust (the “Trust”) is strongly committed to preserving and safeguarding the personal financial information of any customers of the Trust. Confidentiality is extremely important to us.
Regulation S-P requires, among others, each investment company to “adopt written policies and procedures that address administrative, technical, and physical safeguards for the protection of customer records and information.” However, Pursuant to Regulation S-P’s definition of “customer,” the Trust currently does not have, nor does it anticipate having in the future, any customers. In addition, the Trust does not collect any non-public personal information from any consumers.
Nonetheless, the Trust has instituted certain technical, administrative and physical safeguards through which the Trust would seek to protect personal financial information about any customers from unauthorized use and access. First, technical procedures are used in order to limit the accessibility and exposure of Trust-maintained information contained in electronic form. If customer information were obtained by the Trust, such technical procedures would cover such information.
Second, administrative procedures that are in place, would be used to control the number and type of employees, affiliated and nonaffiliated persons, to whom customer information (if the Trust were to obtain any) would be accessible.
Third, physical safeguards have been established, which if customer information were obtained by the Trust, to prevent access to such information contained in hard-copy form.
As these procedures illustrate, the Trust realizes the importance of information confidentiality and security and emphasizes practices which are aimed at achieving those goals.
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Adviser
Empowered Funds, LLC dba EA Advisers
19 East Eagle Road
Havertown, Pennsylvania 19083
Sub-Advisers
Strive Asset Management, LLC Angel Oak Capital Advisors, LLC
6515 Longshore Loop, Suite 100 3344 Peachtree Road NE, Suite 1725
Dublin, Ohio 43017 Atlanta, Georgia 30326
Distributor
Quasar Distributors, LLC
111 East Kilbourn Ave, Suite 2200
Milwaukee, Wisconsin 53202
Custodian and Securities Lending Agent
U.S. Bank National Association
Custody Operations
1555 North River Center Drive, Suite 302
Milwaukee, Wisconsin 53212
Transfer Agent
U.S. Bank Global Fund Services, LLC
615 East Michigan Street
Milwaukee, Wisconsin 53202
Independent Registered Public Accounting Firm
Tait, Weller & Baker LLP
Two Liberty Place
50 South 16th Street, Suite 2900
Philadelphia, Pennsylvania 19102
Legal Counsel
Practus, LLP
11300 Tomahawk Creek Parkway, Suite 310,
Leawood, Kansas 66211
Strive U.S. Energy ETF Strive 500 ETF Strive U.S. Semiconductor ETF
Symbol – DRLL Symbol – STRV Symbol – SHOC
CUSIP – 02072L722 CUSIP – 02072L680 CUSIP – 02072L672
Strive Emerging Markets Strive 1000 Dividend Strive 1000 Growth ETF
Ex-China ETF Growth ETF Symbol – STXG
Symbol – STXE Symbol – STXD CUSIP – 02072L615
CUSIP – 02072L698 CUSIP – 02072L581
Strive 1000 Value ETF Strive Small-Cap ETF Strive Enhanced Income
Symbol – STXV Symbol – STXK Short Maturity ETF
CUSIP – 02072L599 CUSIP – 02072L573 Symbol – BUXX
CUSIP – 02072L441
Strive Total Return Bond ETF Strive FAANG 2.0 ETF
Symbol – STXT Symbol – FTWO
CUSIP – 02072L458 CUSIP – 02072L557
This material must be preceded or accompanied by a prospectus
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(b) Not applicable.
Item 2. Code of Ethics.
Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semi-annual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semi-annual reports.
Item 5. Audit Committee of Listed Registrants.
Not applicable for semi-annual reports.
Item 6. Investments.
Schedule of Investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to open-end investment companies.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of trustees.
Item 11. Controls and Procedures.
(a) | The Registrant’s Principal Executive Officer and Treasurer have reviewed the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant’s service provider. |
(b) | There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the fiscal period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
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Item 13. Exhibits.
(a) | (1) Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit. Not applicable |
(2) A separate certification for each principal executive and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Filed herewith.
(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable to open-end investment companies.
(4) Change in the registrant’s independent public accountant. Not applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | EA Series Trust | |||||||
By (Signature and Title) | /s/ Patrick Cleary | |||||||
Patrick Cleary, President and Chief Executive Officer | ||||||||
Date: | March 27, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Patrick R. Cleary | |||||||
Patrick Cleary, President and Chief Executive Officer | ||||||||
Date: | March 27, 2024 | |||||||
By (Signature and Title) | /s/ Sean R. Hegarty | |||||||
Sean Hegarty, Treasurer, Chief Financial Officer and Comptroller | ||||||||
Date: | March 27, 2024 |
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