| | |
| STRIVE U.S. ENERGY ETF |
| SCHEDULE OF INVESTMENTS |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| COMMON STOCKS - 99.9% |
| Shares |
| Value |
| Automotive Retail - 1.0% | | | |
|
| Murphy USA, Inc. |
| 6,050 | |
| $ | 2,955,122 | |
|
|
|
|
|
Integrated Oil & Gas - 47.8%(a) | | | |
|
| Chevron Corp. |
| 438,696 | |
| 65,286,739 | |
| Exxon Mobil Corp. |
| 621,579 | |
| 72,587,996 | |
| Occidental Petroleum Corp. |
| 199,275 | |
| 9,985,670 | |
|
|
|
| 147,860,405 | |
|
|
|
|
|
Oil & Gas Exploration & Production - 38.0%(a) | | | |
|
Antero Resources Corp. (b) |
| 89,512 | |
| 2,316,570 | |
| APA Corp. |
| 114,910 | |
| 2,711,876 | |
| California Resources Corp. |
| 24,365 | |
| 1,266,249 | |
| Chord Energy Corp. |
| 18,919 | |
| 2,366,767 | |
| Civitas Resources, Inc. |
| 30,258 | |
| 1,476,288 | |
CNX Resources Corp. (b) |
| 45,553 | |
| 1,550,169 | |
| Comstock Resources, Inc. |
| 29,060 | |
| 335,934 | |
| ConocoPhillips |
| 129,322 | |
| 14,165,932 | |
| Coterra Energy, Inc. |
| 227,830 | |
| 5,449,694 | |
| Devon Energy Corp. |
| 199,155 | |
| 7,703,315 | |
| Diamondback Energy, Inc. |
| 56,357 | |
| 9,962,227 | |
| EOG Resources, Inc. |
| 113,427 | |
| 13,833,557 | |
| EQT Corp. |
| 186,466 | |
| 6,813,468 | |
| Expand Energy Corp. |
| 68,460 | |
| 5,799,931 | |
Gulfport Energy Corp. (b) |
| 3,795 | |
| 525,380 | |
| Hess Corp. |
| 92,646 | |
| 12,459,034 | |
| Magnolia Oil & Gas Corp. - Class A |
| 52,776 | |
| 1,334,177 | |
| Marathon Oil Corp. |
| 175,078 | |
| 4,849,661 | |
| Matador Resources Co. |
| 35,279 | |
| 1,838,389 | |
| Murphy Oil Corp. |
| 44,244 | |
| 1,392,801 | |
| Northern Oil & Gas, Inc. |
| 28,351 | |
| 1,027,724 | |
| Ovintiv, Inc. |
| 82,517 | |
| 3,234,666 | |
| Permian Resources Corp. |
| 193,230 | |
| 2,633,725 | |
| Range Resources Corp. |
| 72,813 | |
| 2,186,574 | |
| Sitio Royalties Corp. - Class A |
| 22,502 | |
| 501,569 | |
| SM Energy Co. |
| 34,321 | |
| 1,440,452 | |
| Texas Pacific Land Corp. |
| 5,974 | |
| 6,965,684 | |
| Viper Energy, Inc. |
| 27,845 | |
| 1,445,155 | |
|
|
|
| 117,586,968 | |
|
|
|
|
|
| Oil & Gas Refining & Marketing - 13.1% | | | |
|
| CVR Energy, Inc. |
| 10,974 | |
| 174,487 | |
| HF Sinclair Corp. |
| 50,899 | |
| 1,965,210 | |
| Marathon Petroleum Corp. |
| 82,311 | |
| 11,973,781 | |
| | |
| STRIVE U.S. ENERGY ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| COMMON STOCKS - 99.9% (CONTINUED) |
| Shares |
| Value |
| Oil & Gas Refining & Marketing - 13.1% (Continued) | | | | |
| PBF Energy, Inc. - Class A |
| 29,682 | |
| $ | 846,531 | |
| Phillips 66 |
| 105,663 | |
| 12,871,867 | |
| Valero Energy Corp. |
| 98,536 | |
| 12,786,031 | |
|
|
|
| 40,617,907 | |
TOTAL COMMON STOCKS (Cost $319,592,993) | | |
| 309,020,402 | |
|
|
|
|
|
| SHORT-TERM INVESTMENTS - 0.1% | |
|
|
|
| Money Market Funds - 0.1% |
| |
| |
First American Government Obligations Fund - Class X, 4.78% (c) |
| 205,108 | |
| 205,108 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $205,108) | | |
| 205,108 | |
|
|
|
|
|
TOTAL INVESTMENTS - 100.0% (Cost $319,798,101) | | |
| $ | 309,225,510 | |
Liabilities in Excess of Other Assets - (0.0%) (d) | | |
| (71,229) | |
| TOTAL NET ASSETS - 100.0% |
| |
| $ | 309,154,281 | |
Percentages are stated as a percent of net assets.
| | | | | | | | |
| (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) |
| The rate shown represents the 7-day annualized effective yield as of October 31, 2024. |
| (d) |
| Represents less than 0.05% of net assets. |
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.
Summary of Fair Value Disclosure as of October 31, 2024 (Unaudited)
Strive U.S. Energy ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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 following is a summary of the fair valuation hierarchy of the Fund’s securities as of October 31, 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| DESCRIPTION | | LEVEL 1 | | LEVEL 2 | | LEVEL 3 | | TOTAL |
| Assets |
| Common Stocks | | $ | 309,020,402 | | | $ | — | | | $ | — | | | $ | 309,020,402 | |
| Money Market Funds | | 205,108 | | | — | | | — | | | 205,108 | |
| Total Investments in Securities | | $ | 309,225,510 | | | $ | — | | | $ | — | | | $ | 309,225,510 | |
Refer to the Schedule of Investments for additional information.
During the fiscal period ended October 31, 2024, the Strive U.S. Energy 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.
