| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| MORTGAGE-BACKED SECURITIES - 45.4% | | Par |
| Value |
| Federal Home Loan Mortgage Corp. | | | | |
| Pool QF3730, 5.00%, 11/01/2052 |
| $ | 847,412 | |
| $ | 826,586 | |
| Pool QF5342, 4.00%, 12/01/2052 |
| 1,434,770 | |
| 1,328,051 | |
| Pool QI2043, 6.00%, 03/01/2054 |
| 298,214 | |
| 301,672 | |
| Pool QI4343, 4.50%, 04/01/2054 |
| 2,461,426 | |
| 2,344,494 | |
| Pool QJ0225, 6.00%, 07/01/2054 |
| 1,290,855 | |
| 1,306,629 | |
| Pool QJ6482, 5.00%, 10/01/2054 |
| 1,500,000 | |
| 1,458,917 | |
| Pool QJ7677, 5.50%, 11/01/2054 |
| 2,000,000 | |
| 1,986,628 | |
| Pool QJ7705, 5.00%, 11/01/2054 |
| 500,000 | |
| 487,087 | |
| Pool SD1961, 5.50%, 12/01/2052 |
| 390,669 | |
| 387,080 | |
| Pool SD2500, 5.00%, 03/01/2053 |
| 921,082 | |
| 895,566 | |
| Pool SD5781, 6.00%, 07/01/2054 |
| 633,051 | |
| 641,182 | |
| Pool SD5809, 6.00%, 07/01/2054 |
| 1,360,753 | |
| 1,370,577 | |
| Pool SD8256, 4.00%, 10/01/2052 |
| 1,961,486 | |
| 1,815,588 | |
| Pool SD8322, 4.50%, 05/01/2053 |
| 914,192 | |
| 869,049 | |
| Pool SD8325, 6.00%, 05/01/2053 |
| 1,031,895 | |
| 1,040,313 | |
| Pool SD8384, 6.00%, 12/01/2053 |
| 2,241,516 | |
| 2,257,001 | |
| Federal National Mortgage Association | | | | |
| Pool BW8868, 5.00%, 10/01/2052 |
| 1,968,784 | |
| 1,916,705 | |
| Pool DA0007, 5.50%, 09/01/2053 |
| 956,203 | |
| 947,419 | |
| Pool DB6624, 5.50%, 06/01/2054 |
| 694,918 | |
| 690,715 | |
| Pool FS4932, 6.00%, 06/01/2053 |
| 782,232 | |
| 792,036 | |
| Pool FS5635, 4.00%, 11/01/2052 |
| 1,870,789 | |
| 1,731,637 | |
| Pool FS8417, 4.00%, 10/01/2052 |
| 1,044,049 | |
| 973,569 | |
| Pool MA4919, 5.50%, 02/01/2053 |
| 939,472 | |
| 930,842 | |
| Pool MA4941, 5.50%, 03/01/2053 |
| 906,716 | |
| 898,387 | |
| Pool MA5008, 4.50%, 05/01/2053 |
| 1,375,988 | |
| 1,308,041 | |
| Pool MA5039, 5.50%, 06/01/2053 |
| 978,829 | |
| 969,838 | |
| Pool MA5109, 6.50%, 08/01/2053 |
| 375,463 | |
| 384,583 | |
| Pool MA5165, 5.50%, 10/01/2053 |
| 923,734 | |
| 915,248 | |
| Ginnie Mae II Pool | | | | |
| Pool MA8491, 5.50%, 12/20/2052 |
| 1,414,247 | |
| 1,406,725 | |
| Pool MA8493, 6.50%, 12/20/2052 |
| 133,821 | |
| 134,730 | |
| Pool MA8570, 5.50%, 01/20/2053 |
| 841,139 | |
| 836,665 | |
| Pool MA8647, 5.00%, 02/20/2053 |
| 889,532 | |
| 869,303 | |
| Pool MA8725, 5.00%, 03/20/2053 |
| 449,065 | |
| 438,853 | |
| Pool MA8726, 5.50%, 03/20/2053 |
| 764,354 | |
| 760,288 | |
| Pool MA8727, 6.00%, 03/20/2053 |
| 1,234,218 | |
| 1,243,660 | |
| Pool MA8800, 5.00%, 04/20/2053 |
| 452,532 | |
| 442,241 | |
| Pool MA8801, 5.50%, 04/20/2053 |
| 954,227 | |
| 950,344 | |
| Pool MA8877, 4.50%, 05/20/2053 |
| 1,402,844 | |
| 1,340,200 | |
| Pool MA8878, 5.00%, 05/20/2053 |
| 563,544 | |
| 550,728 | |
| Pool MA8879, 5.50%, 05/20/2053 |
| 936,903 | |
| 931,919 | |
| Pool MA8880, 6.00%, 05/20/2053 |
| 797,556 | |
| 803,658 | |
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| MORTGAGE-BACKED SECURITIES - 45.4% (CONTINUED) | | Par |
| Value |
| Pool MA8948, 5.50%, 06/20/2053 |
| $ | 1,152,282 | |
| $ | 1,146,153 | |
| Pool MA8949, 6.00%, 06/20/2053 |
| 1,242,711 | |
| 1,255,324 | |
| Pool MA9017, 5.50%, 07/20/2053 |
| 723,439 | |
| 719,591 | |
| Pool MA9018, 6.00%, 07/20/2053 |
| 411,488 | |
| 414,636 | |
| Pool MA9105, 5.00%, 08/20/2053 |
| 1,890,209 | |
| 1,847,224 | |
| Pool MA9106, 5.50%, 08/20/2053 |
| 1,366,255 | |
| 1,358,988 | |
| Pool MA9166, 3.00%, 09/20/2053 |
| 182,103 | |
| 160,669 | |
| Pool MA9171, 5.50%, 09/20/2053 |
| 1,995,306 | |
| 1,984,693 | |
| Pool MA9305, 5.50%, 11/20/2053 |
| 835,414 | |
| 830,970 | |
| Pool MA9485, 4.00%, 02/20/2054 |
| 485,536 | |
| 452,456 | |
| Pool MA9539, 4.50%, 03/20/2054 |
| 983,171 | |
| 939,576 | |
TOTAL MORTGAGE-BACKED SECURITIES (Cost $53,781,837) |
| 53,595,034 | |
|
|
|
|
|
| ASSET-BACKED SECURITIES - 17.4% | | | | |
ACHV ABS Trust, Series 2024-2PL, Class D, 6.40%, 10/27/2031 (a) |
| 400,000 | |
| 400,344 | |
Affirm, Inc., Series 2024-A, Class D, 6.89%, 02/15/2029 (a) |
| 200,000 | |
| 202,263 | |
Arivo Acceptance Auto Loan Receivables Trust, Series 2024-1A, Class B, 6.87%, 06/17/2030 (a) |
| 300,000 | |
| 303,339 | |
Avis Budget Car Rental LLC, Series 2023-1A, Class C, 6.23%, 04/20/2029 (a) |
| 300,000 | |
| 302,314 | |
Bankers Healthcare Group, Inc., Series 2024-1CON, Class C, 6.86%, 04/17/2035 (a) |
| 400,000 | |
| 404,618 | |
| Carvana Auto Receivables Trust | | | | |
Series 2023-P2, Class C, 5.84%, 07/10/2029 (a) |
| 578,000 | |
| 583,547 | |
Series 2023-P5, Class D, 7.18%, 12/10/2030 (a) |
| 500,000 | |
| 531,476 | |
| Series 2024-P2, Class D, 6.10%, 06/10/2031 |
| 250,000 | |
| 254,364 | |
| Series 2024-P3, Class D, 5.39%, 09/10/2032 |
| 500,000 | |
| 487,409 | |
COLT Funding LLC, Series 2022-4, Class A2, 4.50%, 03/25/2067 (a)(b) |
| 470,481 | |
| 451,678 | |
CPS Auto Trust, Series 2021-D, Class E, 4.06%, 12/15/2028 (a) |
| 500,000 | |
| 485,110 | |
Ellington Financial Mortgage Trust, Series 2021-2, Class M1, 2.30%, 06/25/2066 (a)(b) |
| 885,000 | |
| 584,868 | |
| FHF Trust | | | | |
Series 2024-1A, Class C, 7.42%, 05/15/2031 (a) |
| 250,000 | |
| 256,565 | |
Series 2024-2A, Class D, 7.15%, 09/15/2031 (a) |
| 500,000 | |
| 512,075 | |
FIGRE Trust 2024-HE1, Series 2024-HE1, Class B, 6.51%, 03/25/2054 (a)(b) |
| 871,574 | |
| 890,206 | |
| Foundation Finance Trust | | | | |
Series 2024-1A, Class D, 8.13%, 12/15/2049 (a) |
| 150,000 | |
| 156,192 | |
Series 2024-2A, Class D, 6.59%, 03/15/2050 (a) |
| 300,000 | |
| 301,755 | |
| FREED ABS Trust | | | | |
Series 2021-3FP, Class D, 2.37%, 11/20/2028 (a) |
| 150,572 | |
| 148,943 | |
Series 2022-4FP, Class D, 7.40%, 12/18/2029 (a) |
| 350,000 | |
| 354,927 | |
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| ASSET-BACKED SECURITIES - 17.4% (CONTINUED) | | Par | | Value |
GCAT, Series 2021-NQM4, Class A3, 1.56%, 08/25/2066 (a)(b) |
| $ | 1,173,459 | |
| $ | 964,878 | |
GLS Auto Select Receivables Trust, Series 2024-2A, Class D, 6.37%, 08/15/2031 (a) |
| 1,000,000 | |
| 1,015,838 | |
GreenSky Home Improvement Trust 2024-1, Series 2024-1, Class D, 7.33%, 06/25/2059 (a) |
| 500,000 | |
| 513,127 | |
GS Mortgage-Backed Securities Trust, Series 2021-MM1, Class A2, 2.50%, 04/25/2052 (a)(b) |
| 1,685,121 | |
| 1,378,581 | |
Helios Issuer LLC, Series 2021-B, Class A, 1.62%, 07/20/2048 (a) |
| 77,855 | |
| 66,724 | |
Hertz Vehicle Financing LLC, Series 2023-4A, Class C, 7.51%, 03/25/2030 (a) |
| 500,000 | |
| 517,101 | |
| Marlette Funding Trust | | | | |
Series 2023-2A, Class D, 7.92%, 06/15/2033 (a) |
| 300,000 | |
| 303,667 | |
Series 2024-1A, Class D, 6.93%, 07/17/2034 (a) |
| 500,000 | |
| 506,524 | |
MFRA Trust, Series 2021-NQM2, Class A3, 1.47%, 11/25/2064 (a)(b) |
| 405,716 | |
| 350,648 | |
| Pagaya AI Debt Selection Trust | | | | |
Series 2023-7, Class C, 8.80%, 07/15/2031 (a) |
| 699,739 | |
| 720,173 | |
Series 2024-1, Class C, 8.34%, 07/15/2031 (a) |
| 445,827 | |
| 456,246 | |
Series 2024-2, Class C, 7.57%, 08/15/2031 (a) |
| 199,911 | |
| 202,607 | |
Series 2024-5, Class C, 7.27%, 10/15/2031 (a) |
| 999,819 | |
| 1,014,231 | |
Prosper Marketplace Issuance Trust, Series 2023-1A, Class C, 8.29%, 07/16/2029 (a) |
| 600,000 | |
| 614,359 | |
PRPM LLC, Series 2022-NQM1, Class A3, 5.50%, 08/25/2067 (a)(c) |
| 288,925 | |
| 292,129 | |
Purchasing Power Funding, Series 2024-A, Class D, 7.26%, 08/15/2028 (a) |
| 200,000 | |
| 202,579 | |
Republic Finance Issuance Trust, Series 2024-A, Class C, 7.28%, 08/20/2032 (a) |
| 250,000 | |
| 252,440 | |
Saluda Grade Mortgage Funding LLC, Series 2023-FIG4, Class A, 6.72%, 11/25/2053 (a)(b) |
| 425,073 | |
| 440,487 | |
SBNA Auto Receivables Trust 2024-A, Series 2024-A, Class D, 6.04%, 04/15/2030 (a) |
| 500,000 | |
| 508,322 | |
Sunnova Energy International, Inc., Series 2023-B, Class A, 5.30%, 08/22/2050 (a) |
| 91,003 | |
| 88,150 | |
Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 (a) |
| 200,000 | |
| 207,014 | |
Towd Point Mortgage Trust, Series 2024-4, Class A2, 4.38%, 10/27/2064 (a)(b) |
| 1,500,000 | |
| 1,368,959 | |
| Veros Automobile Receivables Trust | | | | |
Series 2021-1, Class C, 3.64%, 08/15/2028 (a) |
| 414,464 | |
| 414,432 | |
Series 2024-1, Class C, 7.57%, 12/15/2028 (a) |
| 500,000 | |
| 506,819 | |
TOTAL ASSET-BACKED SECURITIES (Cost $20,193,402) | | |
| 20,518,028 | |
|
|
|
|
|
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| U.S. TREASURY SECURITIES - 14.0% | | Par |
| Value |
| United States Treasury Note/Bond | | | | |
| 3.13%, 08/15/2025 | $ | $ | 1,000,000 | |
| $ | 990,349 | |
| 4.63%, 11/15/2026 |
| 1,350,000 | |
| 1,362,182 | |
| 4.13%, 10/31/2027 |
| 1,850,000 | |
| 1,849,675 | |
| 4.38%, 08/31/2028 |
| 1,000,000 | |
| 1,007,285 | |
| 3.50%, 04/30/2030 |
| 1,000,000 | |
| 966,680 | |
| 4.13%, 08/31/2030 |
| 1,000,000 | |
| 996,172 | |
| 1.88%, 02/15/2032 |
| 600,000 | |
| 511,617 | |
| 4.13%, 11/15/2032 |
| 1,200,000 | |
| 1,191,117 | |
| 3.50%, 02/15/2033 |
| 1,000,000 | |
| 947,383 | |
| 3.88%, 08/15/2033 |
| 1,000,000 | |
| 971,211 | |
| 4.38%, 05/15/2034 |
| 1,000,000 | |
| 1,007,344 | |
| 4.50%, 05/15/2038 |
| 1,000,000 | |
| 1,015,703 | |
| 3.50%, 02/15/2039 |
| 1,200,000 | |
| 1,089,047 | |
| 1.13%, 08/15/2040 |
| 1,000,000 | |
| 618,320 | |
| 3.88%, 08/15/2040 |
| 1,200,000 | |
| 1,121,484 | |
| 1.88%, 11/15/2051 |
| 1,500,000 | |
| 879,141 | |
TOTAL U.S. TREASURY SECURITIES (Cost $16,553,093) | | |
| 16,524,710 | |
|
|
|
|
|
| CORPORATE BONDS - 9.7% | | Par |
| Value |
| Aerospace & Defense - 0.2% | | | | |
| Northrop Grumman Corp., 5.20%, 06/01/2054 |
| 100,000 | |
| 97,227 | |
| RTX Corp., 6.10%, 03/15/2034 |
| 100,000 | |
| 107,295 | |
| | |
| 204,522 | |
|
|
|
|
|
| Automobile Components - 0.2% | | | | |
| BorgWarner, Inc., 5.40%, 08/15/2034 |
| 100,000 | |
| 99,527 | |
Phinia, Inc., 6.75%, 04/15/2029 (a) |
| 100,000 | |
| 102,257 | |
| | |
| 201,784 | |
|
|
|
|
|
| Automotive - 0.2% | | | | |
| Ford Motor Credit Co. LLC, 6.13%, 03/08/2034 |
| 100,000 | |
| 99,153 | |
| General Motors Financial Co., Inc., 6.10%, 01/07/2034 |
| 100,000 | |
| 102,798 | |
| | |
| 201,951 | |
|
|
|
|
|
| Banks - 0.9% | | | | |
Bank of America Corp., 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036 |
| 250,000 | |
| 205,158 | |
JPMorgan Chase & Co., 6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034 |
| 300,000 | |
| 322,630 | |
PNC Financial Services Group, Inc., 5.68% to 01/22/2034 then SOFR + 1.90%, 01/22/2035 |
| 200,000 | |
| 205,591 | |
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| CORPORATE BONDS - 9.7% (CONTINUED) | | Par |
| Value |
| Banks - 0.9% (Continued) | | | | |
Wells Fargo & Co., 5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034 |
| $ | 300,000 | |
| $ | 305,228 | |
| | |
| 1,038,607 | |
|
|
|
|
|
| Beverages - 0.4% | | | | |
| Brown-Forman Corp., 4.00%, 04/15/2038 |
| 100,000 | |
| 88,654 | |
| Constellation Brands, Inc., 4.90%, 05/01/2033 |
| 150,000 | |
| 147,292 | |
| Keurig Dr Pepper, Inc., 5.30%, 03/15/2034 |
| 200,000 | |
| 202,543 | |
| Molson Coors Beverage Co., 4.20%, 07/15/2046 |
| 100,000 | |
| 81,996 | |
| | |
| 520,485 | |
|
|
|
|
|
| Biotechnology - 0.1% | | | | |
| Amgen, Inc., 5.25%, 03/02/2033 |
| 100,000 | |
| 101,074 | |
|
|
|
|
|
| Brokerage & Investment Management - 0.1% | | | | |
LPL Holdings, Inc., 4.00%, 03/15/2029 (a) |
| 200,000 | |
| 188,156 | |
|
|
|
|
|
| Building Products - 0.1% | | | | |
| Carrier Global Corp., 3.38%, 04/05/2040 |
| 100,000 | |
| 78,977 | |
|
|
|
|
|
| Capital Markets - 0.6% | | | | |
| Goldman Sachs Group, Inc., 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033 |
| 200,000 | |
| 174,767 | |
| Morgan Stanley, 5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038 |
| 300,000 | |
| 305,707 | |
MSCI, Inc., 3.25%, 08/15/2033 (a) |
| 100,000 | |
| 85,484 | |
UBS Group AG, 5.70% to 02/08/2034 then 1 yr. CMT Rate + 1.77%, 02/08/2035 (a) |
| 200,000 | |
| 204,985 | |
| | |
| 770,943 | |
|
|
|
|
|
| Chemicals - 0.2% | | | | |
| Mosaic Co., 5.63%, 11/15/2043 |
| 100,000 | |
| 96,590 | |
| Nutrien Ltd., 2.95%, 05/13/2030 |
| 150,000 | |
| 136,453 | |
| | |
| 233,043 | |
|
|
|
|
|
| Commercial Services & Supplies - 0.1% | | | | |
| Waste Management, Inc., 4.88%, 02/15/2034 |
| 100,000 | |
| 99,731 | |
|
|
|
|
|
| Construction & Engineering - 0.1% | | | | |
MasTec, Inc., 4.50%, 08/15/2028 (a) |
| 150,000 | |
| 144,886 | |
|
|
|
|
|
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| CORPORATE BONDS - 9.7% (CONTINUED) | | Par |
| Value |
| Construction Machinery - 0.2% | | | | |
Ashtead Capital, Inc., 5.95%, 10/15/2033 (a) |
| $ | 200,000 | |
| $ | 204,662 | |
United Rentals North America, Inc., 6.00%, 12/15/2029 (a) |
| 100,000 | |
| 101,663 | |
| | |
| 306,325 | |
|
|
|
|
|
| Construction Materials - 0.2% | | | | |
| CRH America Finance, Inc., 5.40%, 05/21/2034 |
| 200,000 | |
| 202,948 | |
|
|
|
|
|
| Consumer Finance - 0.2% | | | | |
| American Express Co., 5.04% to 05/01/2033 then SOFR + 1.84%, 05/01/2034 |
| 100,000 | |
| 99,747 | |
| Capital One Financial Corp., 5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034 |
| 200,000 | |
| 202,840 | |
| | |
| 302,587 | |
|
|
|
|
|
| Consumer Staples Distribution & Retail - 0.1% | | | | |
| Kroger Co., 5.00%, 09/15/2034 |
| 100,000 | |
| 98,393 | |
|
|
|
|
|
| Diversified Telecommunication Services - 0.1% | | | | |
| AT&T, Inc., 4.90%, 08/15/2037 |
| 100,000 | |
| 95,657 | |
|
|
|
|
|
| Electronic Equipment, Instruments & Components - 0.2% | | | | |
| Amphenol Corp., 5.25%, 04/05/2034 |
| 100,000 | |
| 101,292 | |
| Arrow Electronics, Inc., 5.88%, 04/10/2034 |
| 100,000 | |
| 101,304 | |
| | |
| 202,596 | |
|
|
|
|
|
| Finance Companies - 0.4% | | | | |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.00%, 10/29/2028 |
| 250,000 | |
| 232,118 | |
Avolon Holdings Funding Ltd., 5.75%, 11/15/2029 (a) |
| 100,000 | |
| 101,607 | |
Macquarie Airfinance Holdings Ltd., 6.50%, 03/26/2031 (a) |
| 100,000 | |
| 103,977 | |
| | |
| 437,702 | |
|
|
|
|
|
| Finance-Leasing Companies - 0.1% | | | | |
GGAM Finance Ltd., 6.88%, 04/15/2029 (a) |
| 100,000 | |
| 102,269 | |
|
|
|
|
|
| Financial Services - 0.8% | | | | |
| Enact Holdings, Inc., 6.25%, 05/28/2029 |
| 100,000 | |
| 102,123 | |
| Fiserv, Inc., 5.63%, 08/21/2033 |
| 150,000 | |
| 154,516 | |
| Global Payments, Inc., 5.40%, 08/15/2032 |
| 150,000 | |
| 150,810 | |
HA Sustainable Infrastructure Capital, Inc., 6.38%, 07/01/2034 (a) |
| 200,000 | |
| 199,191 | |
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| CORPORATE BONDS - 9.7% (CONTINUED) | | Par |
| Value |
| Financial Services - 0.8% (Continued) | | | | |
| NMI Holdings, Inc., 6.00%, 08/15/2029 |
| $ | 100,000 | |
| $ | 101,107 | |
| Radian Group, Inc. | | | | |
| 4.88%, 03/15/2027 |
| 100,000 | |
| 99,285 | |
| 6.20%, 05/15/2029 |
| 100,000 | |
| 102,533 | |
| | |
| 909,565 | |
|
|
|
|
|
| Food & Beverage - 0.2% | | | | |
| Bunge Ltd. Finance Corp., 2.75%, 05/14/2031 |
| 200,000 | |
| 175,349 | |
JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 6.75%, 03/15/2034 (a) |
| 93,000 | |
| 100,059 | |
| | |
| 275,408 | |
|
|
|
|
|
| Food Products - 0.4% | | | | |
| Campbell Soup Co., 5.40%, 03/21/2034 |
| 100,000 | |
| 101,183 | |
| Conagra Brands, Inc., 5.30%, 11/01/2038 |
| 100,000 | |
| 96,500 | |
| J M Smucker Co., 6.20%, 11/15/2033 |
| 200,000 | |
| 213,728 | |
| Tyson Foods, Inc., 4.88%, 08/15/2034 |
| 100,000 | |
| 96,569 | |
| | |
| 507,980 | |
|
|
|
|
|
| Ground Transportation - 0.2% | | | | |
| Burlington Northern Santa Fe LLC, 4.13%, 06/15/2047 |
| 100,000 | |
| 84,050 | |
| CSX Corp., 6.15%, 05/01/2037 |
| 100,000 | |
| 108,495 | |
| | |
| 192,545 | |
|
|
|
|
|
| Health Care Equipment & Supplies - 0.3% | | | | |
| Baxter International, Inc., 2.54%, 02/01/2032 |
| 100,000 | |
| 84,121 | |
| GE HealthCare Technologies, Inc., 5.91%, 11/22/2032 |
| 150,000 | |
| 158,354 | |
| Zimmer Biomet Holdings, Inc., 2.60%, 11/24/2031 |
| 200,000 | |
| 171,659 | |
| | |
| 414,134 | |
|
|
|
|
|
| Health Care Services - 0.1% | | | | |
| HCA, Inc., 5.45%, 09/15/2034 |
| 100,000 | |
| 99,337 | |
|
|
|
|
|
| Household Durables - 0.2% | | | | |
| MDC Holdings, Inc., 6.00%, 01/15/2043 |
| 100,000 | |
| 102,901 | |
| NVR, Inc., 3.00%, 05/15/2030 |
| 100,000 | |
| 90,622 | |
| PulteGroup, Inc., 6.38%, 05/15/2033 |
| 100,000 | |
| 107,087 | |
| | |
| 300,610 | |
|
|
|
|
|
| Insurance - 0.1% | | | | |
| MetLife, Inc., 6.50%, 12/15/2032 |
| 100,000 | |
| 110,988 | |
|
|
|
|
|
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| CORPORATE BONDS - 9.7% (CONTINUED) | | Par |
| Value |
| Life Sciences Tools & Services - 0.1% | | | | |
| Agilent Technologies, Inc., 4.75%, 09/09/2034 |
| $ | 100,000 | |
| $ | 96,788 | |
| Bio-Rad Laboratories, Inc., 3.70%, 03/15/2032 |
| 100,000 | |
| 90,206 | |
| | |
| 186,994 | |
|
|
|
|
|
| Media - 0.1% | | | | |
| Comcast Corp., 6.50%, 11/15/2035 |
| 100,000 | |
| 111,302 | |
|
|
|
|
|
| Metals & Mining - 0.1% | | | | |
| Freeport-McMoRan, Inc., 5.40%, 11/14/2034 |
| 100,000 | |
| 100,218 | |
|
|
|
|
|
| Midstream - 0.1% | | | | |
| Cheniere Corpus Christi Holdings LLC, 2.74%, 12/31/2039 |
| 100,000 | |
| 80,185 | |
|
|
|
|
|
| Oil Field Services - 0.1% | | | | |
Shelf Drilling Holdings Ltd., 9.63%, 04/15/2029 (a) |
| 100,000 | |
| 90,535 | |
|
|
|
|
|
| Oil, Gas & Consumable Fuels - 0.9% | | | | |
Cheniere Energy Partners LP, 5.75%, 08/15/2034 (a) |
| 100,000 | |
| 101,198 | |
Continental Resources, Inc., 5.75%, 01/15/2031 (a) |
| 100,000 | |
| 100,162 | |
Energy Transfer LP, 7.38%, 02/01/2031 (a) |
| 100,000 | |
| 105,318 | |
Greenfire Resources Ltd., 12.00%, 10/01/2028 (a) |
| 40,000 | |
| 43,145 | |
| Hess Corp., 7.13%, 03/15/2033 |
| 100,000 | |
| 112,115 | |
| Kinder Morgan, Inc., 5.95%, 08/01/2054 |
| 100,000 | |
| 100,157 | |
| MPLX LP, 5.00%, 03/01/2033 |
| 100,000 | |
| 97,308 | |
| ONEOK, Inc., 6.05%, 09/01/2033 |
| 100,000 | |
| 104,141 | |
| Targa Resources Corp., 6.50%, 03/30/2034 |
| 100,000 | |
| 107,466 | |
| Western Midstream Operating LP, 6.15%, 04/01/2033 |
| 100,000 | |
| 103,387 | |
| Williams Cos., Inc., 5.65%, 03/15/2033 |
| 100,000 | |
| 102,500 | |
| | |
| 1,076,897 | |
|
|
|
|
|
| Packaged Food & Meats - 0.1% | | | | |
| Kraft Heinz Foods Co., 6.88%, 01/26/2039 |
| 100,000 | |
| 112,845 | |
|
|
|
|
|
| Pharmaceuticals - 0.1% | | | | |
| Royalty Pharma PLC, 3.30%, 09/02/2040 |
| 100,000 | |
| 74,143 | |
|
|
|
|
|
| Software - 0.1% | | | | |
| Roper Technologies, Inc., 1.75%, 02/15/2031 |
| 100,000 | |
| 82,839 | |
| VMware LLC, 2.20%, 08/15/2031 |
| 100,000 | |
| 83,536 | |
| | |
| 166,375 | |
|
|
|
|
|
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| CORPORATE BONDS - 9.7% (CONTINUED) | | Par |
| Value |
| Specialized REITs - 0.2% | | | | |
| American Tower Corp., 5.55%, 07/15/2033 |
| $ | 150,000 | |
| $ | 153,154 | |
| Crown Castle, Inc., 5.10%, 05/01/2033 |
| 100,000 | |
| 98,661 | |
| | |
| 251,815 | |
|
|
|
|
|
| Specialty Retail - 0.2% | | | | |
| Lowe's Cos., Inc., 5.15%, 07/01/2033 |
| 100,000 | |
| 101,212 | |
| O'Reilly Automotive, Inc., 4.70%, 06/15/2032 |
| 100,000 | |
| 97,876 | |
| | |
| 199,088 | |
|
|
|
|
|
| Technology - 0.2% | | | | |
| Dell International LLC / EMC Corp., 5.75%, 02/01/2033 |
| 100,000 | |
| 104,163 | |
| IBM International Capital Pte Ltd., 4.90%, 02/05/2034 |
| 100,000 | |
| 98,837 | |
| | |
| 203,000 | |
|
|
|
|
|
| Technology Distributors - 0.1% | | | | |
| CDW LLC / CDW Finance Corp., 5.55%, 08/22/2034 |
| 100,000 | |
| 99,402 | |
|
|
|
|
|
| Tobacco - 0.1% | | | | |
| Philip Morris International, Inc., 5.25%, 02/13/2034 |
| 100,000 | |
| 100,383 | |
|
|
|
|
|
| Utilities - 0.1% | | | | |
Vistra Operations Co. LLC, 6.00%, 04/15/2034 (a) |
| 100,000 | |
| 103,289 | |
|
|
|
|
|
| Wireless - 0.1% | | | | |
| T-Mobile USA, Inc., 5.05%, 07/15/2033 |
| 150,000 | |
| 149,368 | |
TOTAL CORPORATE BONDS (Cost $11,192,408) | | |
| 11,449,042 | |
|
|
|
|
|
| COLLATERALIZED MORTGAGE OBLIGATIONS - 5.9% | | Par |
| Value |
A&D Mortgage LLC, Series 2023-NQM4, Class A3, 8.10%, 09/25/2068 (a)(c) |
| 88,054 | |
| 91,450 | |
Ellington Financial Mortgage Trust, Series 2024-INV1, Class A1A, 6.56%, 03/25/2069 (a)(c) |
| 457,857 | |
| 466,745 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2023-HQA2, Class M1B, 8.21% (30 day avg SOFR US + 3.35%), 06/25/2043 (a) |
| 500,000 | |
| 523,153 | |
GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, 6.00%, 01/25/2054 (a)(b) |
| 391,481 | |
| 398,411 | |
| JP Morgan Mortgage Trust | | | | |
Series 2021-1, Class A3, 2.50%, 06/25/2051 (a)(b) |
| 468,621 | |
| 383,374 | |
Series 2024-10, Class B2, 7.00%, 03/25/2055 (a)(b) |
| 1,500,000 | |
| 1,585,198 | |
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| COLLATERALIZED MORTGAGE OBLIGATIONS - 5.9% | | Par |
| Value |
| Onslow Bay Mortgage Loan Trust | | | | |
Series 2021-J2, Class A1, 2.50%, 07/25/2051 (a)(b) |
| $ | 1,195,395 | |
| $ | 977,941 | |
Series 2021-NQM2, Class A3, 1.56%, 05/25/2061 (a)(b) |
| 610,160 | |
| 497,634 | |
RCKT Mortgage Trust, Series 2022-4, Class A2, 3.50%, 06/25/2052 (a)(b) |
| 855,299 | |
| 744,710 | |
| SGR Residential Mortgage Trust | | | | |
Series 2020-2, Class A1, 1.38%, 05/25/2065 (a)(b) |
| 417,798 | |
| 377,748 | |
Series 2021-1, Class M1, 2.50%, 07/25/2061 (a)(b) |
| 744,000 | |
| 486,926 | |
Western Alliance Bancorp, Series 2021-CL2, Class M3, 8.96% (30 day avg SOFR US + 4.10%), 07/25/2059 (a) |
| 458,053 | |
| 460,559 | |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $6,920,393) |
| 6,993,849 | |
|
|
|
|
|
| COLLATERALIZED LOAN OBLIGATIONS - 5.1% | | | | |
Anchorage Credit Funding Ltd., Series 2019-8A, Class BR, 3.01%, 07/25/2037 (a) |
| 400,000 | |
| 363,182 | |
Apidos CLO, Series 2022-42A, Class C, 8.52% (3 mo. Term SOFR + 3.90%), 01/20/2036 (a) |
| 475,000 | |
| 483,675 | |
| ARES CLO | | | | |
Series 2020-57A, Class BR, 6.54% (3 mo. Term SOFR + 1.91%), 01/25/2035 (a) |
| 1,050,000 | |
| 1,050,586 | |
Series 2023-68A, Class E, 13.18% (3 mo. Term SOFR + 8.55%), 04/25/2035 (a) |
| 500,000 | |
| 513,663 | |
Capital Four US CLO Ltd., Series 2022-2A, Class E, 0.00% (3 mo. Term SOFR + 8.45%), 01/21/2035 (a) |
| 500,000 | |
| 506,750 | |
LCM LP, Series 22A, Class A2R, 6.33% (3 mo. Term SOFR + 1.71%), 10/20/2028 (a) |
| 292,380 | |
| 291,954 | |
Northwoods Capital Ltd., Series 2018-12BA, Class BR, 6.65% (3 mo. Term SOFR + 1.70%), 06/15/2031 (a) |
| 500,000 | |
| 500,681 | |
Rockford Tower CLO Ltd., Series 2023-1A, Class D, 9.94% (3 mo. Term SOFR + 5.32%), 01/20/2036 (a) |
| 750,000 | |
| 768,723 | |
RR Ltd./Cayman Islands, Series 2018-4A, Class C, 7.87% (3 mo. Term SOFR + 3.21%), 04/15/2030 (a) |
| 1,000,000 | |
| 1,001,584 | |
Saranac CLO, Series 2013-1A, Class BR, 6.78% (3 mo. Term SOFR + 2.16%), 07/26/2029 (a) |
| 142,125 | |
| 142,239 | |
Symphony CLO Ltd., Series 2022-37A, Class B1R, 7.02% (3 mo. Term SOFR + 2.40%), 01/20/2037 (a) |
| 450,000 | |
| 451,580 | |
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $6,065,900) |
| 6,074,617 | |
|
|
|
|
|
| | |
| STRIVE TOTAL RETURN BOND ETF |
| SCHEDULE OF INVESTMENTS (CONTINUED) |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | |
| | | | |
| SHORT-TERM INVESTMENTS - 1.7% | | Shares |
| Value |
| Money Market Funds - 1.7% |
| |
| |
First American Government Obligations Fund - Class X, 4.56% (d) |
| 1,984,305 | |
| $ | 1,984,305 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $1,984,305) | | |
| 1,984,305 | |
|
|
|
|
|
TOTAL INVESTMENTS - 99.2% (Cost $116,691,338) | | |
| $ | 117,139,585 | |
| Other Assets in Excess of Liabilities - 0.8% | | |
| 916,293 | |
| TOTAL NET ASSETS - 100.0% |
| |
| $ | 118,055,878 | |
`Percentages are stated as a percent of net assets.
| | |
| AG - Aktiengesellschaft |
| CMT - Constant Maturity Treasury Rate |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| 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 October 31, 2024, the value of these securities total $35,027,564 or 29.7% 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 October 31, 2024. |
| (c) |
| Step coupon bond. The rate disclosed is as of October 31, 2024. |
| (d) |
| The rate shown represents the 7-day annualized effective yield as of October 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.
| | |
|
| SCHEDULE OF OPEN FUTURES CONTRACTS |
| October 31, 2024 (Unaudited) |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Description | | Contracts Purchased | | Expiration Date | | Notional | | Value / Unrealized Appreciation (Depreciation) |
| U.S. Treasury 10 Year Notes | | 221 | | 12/19/2024 | | $ | 24,413,594 | | | $ | (788,086) | |
| U.S. Treasury 5 Year Note | | 22 | | 12/31/2024 | | 2,359,156 | | | (74,499) | |
| U.S. Treasury Long Bonds | | 19 | | 12/19/2024 | | 2,241,406 | | | (118,965) | |
| Total Unrealized Appreciation (Depreciation) | | $ | (981,550) | |
STRIVE TOTAL RETURN BOND ETF
Summary of Fair Value Disclosure as of October 31, 2024 (Unaudited)
Strive Total Return Bond 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 | | | | | | | | |
| Mortgage-Backed Securities | | $ | — | | | $ | 53,595,034 | | | $ | — | | | $ | 53,595,034 | |
| Asset-Backed Securities | | — | | | 20,518,028 | | | — | | | 20,518,028 | |
| U.S. Treasury Securities | | — | | | 16,524,710 | | | — | | | 16,524,710 | |
| Corporate Bonds | | — | | | 11,449,042 | | | — | | | 11,449,042 | |
| Collateralized Mortgage Obligations | | — | | | 6,993,849 | | | — | | | 6,993,849 | |
| Collateralized Loan Obligations | | — | | | 6,074,617 | | | — | | | 6,074,617 | |
| Money Market Funds | | 1,984,305 | | | — | | | — | | | 1,984,305 | |
| Total Investments in Securities | | $ | 1,984,305 | | | $ | 115,155,280 | | | $ | — | | | $ | 117,139,585 | |
| | | | | | | | |
| Other Financial Instruments | | | | | | | | |
| Futures* | | $ | (981,550) | | | $ | — | | | $ | — | | | $ | (981,550) | |
| Total Futures | | $ | (981,550) | | | $ | — | | | $ | — | | | $ | (981,550) | |
Refer to the Schedule of Investments for additional information.
* The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of October 31, 2024.
During the fiscal period ended October 31, 2024, the Strive Total Return Bond 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.
