INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% | |||||||
BANKING - 3.7% | |||||||
18,952 | Capital City Bank Group, Inc. | $ 578,226 | |||||
4,140 | Credicorp Ltd. | 585,520 | |||||
17,326 | Home Bancorp, Inc. | 565,867 | |||||
16,100 | KB Financial Group, Inc. - ADR | 649,957 | |||||
2,379,570 | |||||||
BIOTECH & PHARMA - 6.0% | |||||||
154,008 | ADMA Biologics, Inc.(a) | 592,931 | |||||
3,036 | Alnylam Pharmaceuticals, Inc.(a) | 600,582 | |||||
27,876 | Collegium Pharmaceutical, Inc.(a) | 652,856 | |||||
10,396 | Dr Reddy's Laboratories Ltd. - ADR | 706,720 | |||||
32,292 | Exelixis, Inc.(a) | 723,017 | |||||
14,168 | PTC Therapeutics, Inc.(a) | 559,636 | |||||
3,835,742 | |||||||
CHEMICALS - 0.9% | |||||||
11,907 | Haynes International, Inc. | 581,181 | |||||
CONSTRUCTION MATERIALS - 1.1% | |||||||
11,684 | CRH plc - ADR | 672,648 | |||||
CONSUMER SERVICES - 1.0% | |||||||
14,729 | Matthews International Corporation, Class A | 621,269 | |||||
CONTAINERS & PACKAGING - 0.8% | |||||||
23,644 | Graphic Packaging Holding Company | 525,843 | |||||
E-COMMERCE DISCRETIONARY - 1.9% | |||||||
502 | MercadoLibre, Inc.(a) | 688,925 | |||||
33,593 | Vipshop Holdings Ltd. - ADR(a) | 530,433 | |||||
1,219,358 | |||||||
ELECTRIC UTILITIES - 1.1% | |||||||
15,916 | Pampa Energia S.A. - ADR(a) | 725,133 | |||||
ELECTRICAL EQUIPMENT - 4.4% | |||||||
51,704 | LSI Industries, Inc. | 814,338 |
INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% (Continued) | |||||||
ELECTRICAL EQUIPMENT - 4.4% (Continued) | |||||||
12,788 | nVent Electric PLC | $ 723,034 | |||||
23,000 | SMART Global Holdings, Inc.(a) | 594,090 | |||||
3,496 | Watts Water Technologies, Inc., Class A | 659,940 | |||||
2,791,402 | |||||||
ENGINEERING & CONSTRUCTION - 1.0% | |||||||
4,600 | MYR Group, Inc.(a) | 653,522 | |||||
FOOD - 2.1% | |||||||
63,480 | Adecoagro S.A. | 728,751 | |||||
5,796 | Ingredion, Inc. | 596,466 | |||||
1,325,217 | |||||||
GAS & WATER UTILITIES - 1.1% | |||||||
27,232 | Consolidated Water Company Ltd. | 725,460 | |||||
HEALTH CARE FACILITIES & SERVICES - 4.3% | |||||||
6,532 | Ensign Group, Inc. (The) | 654,637 | |||||
9,844 | HealthEquity, Inc.(a) | 664,962 | |||||
2,792 | Medpace Holdings, Inc.(a) | 754,594 | |||||
2,172 | Molina Healthcare, Inc.(a) | 673,581 | |||||
2,747,774 | |||||||
HOME CONSTRUCTION - 2.1% | |||||||
5,336 | DR Horton, Inc. | 635,091 | |||||
8,372 | PulteGroup, Inc. | 687,006 | |||||
1,322,097 | |||||||
HOUSEHOLD PRODUCTS - 1.0% | |||||||
18,308 | Energizer Holdings, Inc. | 628,880 | |||||
INDUSTRIAL SUPPORT SERVICES - 2.1% | |||||||
1,502 | United Rentals, Inc. | 715,763 | |||||
1,656 | Watsco, Inc. | 603,695 | |||||
1,319,458 | |||||||
INSTITUTIONAL FINANCIAL SERVICES - 1.1% | |||||||
7,636 | Interactive Brokers Group, Inc., Class A | 695,487 | |||||
INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% (Continued) | |||||||
INSURANCE - 4.6% | |||||||
43,056 | Ambac Financial Group, Inc.(a) | $ 554,561 | |||||
8,740 | Arch Capital Group Ltd.(a) | 671,756 | |||||
3,128 | Primerica, Inc. | 628,603 | |||||
4,266 | Reinsurance Group of America, Inc. | 591,353 | |||||
37,536 | Universal Insurance Holdings, Inc. | 475,206 | |||||
2,921,479 | |||||||
LEISURE FACILITIES & SERVICES - 1.9% | |||||||
65,964 | Arcos Dorados Holdings, Inc., Class A | 651,065 | |||||
10,396 | Yum China Holdings, Inc. | 558,161 | |||||
1,209,226 | |||||||
LEISURE PRODUCTS - 1.0% | |||||||
6,348 | Thor Industries, Inc. | 665,397 | |||||
MACHINERY - 2.2% | |||||||
2,484 | Caterpillar, Inc. | 698,327 | |||||
1,656 | Parker-Hannifin Corporation | 690,386 | |||||
1,388,713 | |||||||
MEDICAL EQUIPMENT & DEVICES - 1.8% | |||||||
7,360 | Haemonetics Corporation(a) | 660,413 | |||||
6,900 | Lantheus Holdings, Inc.(a) | 472,236 | |||||
1,132,649 | |||||||
METALS & MINING - 0.8% | |||||||
40,756 | Gold Fields Ltd. - ADR | 514,748 | |||||
OIL & GAS PRODUCERS - 6.3% | |||||||
11,040 | Canadian Natural Resources Ltd. | 714,178 | |||||
36,248 | Cenovus Energy, Inc. | 722,422 | |||||
21,528 | Eni SpA - ADR | 666,508 | |||||
5,520 | EOG Resources, Inc. | 709,982 | |||||
74,056 | Evolution Petroleum Corporation | 626,514 | |||||
167,164 | Ultrapar Participacoes S.A. - ADR | 608,477 | |||||
4,048,081 |
INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% (Continued) | |||||||
OIL & GAS SERVICES & EQUIPMENT - 1.2% | |||||||
12,788 | Schlumberger Ltd | $ 753,980 | |||||
RENEWABLE ENERGY - 0.5% | |||||||
2,208 | SolarEdge Technologies, Inc.(a) | 358,955 | |||||
RETAIL - DISCRETIONARY - 4.0% | |||||||
2,693 | Asbury Automotive Group, Inc.(a) | 619,390 | |||||
2,944 | Avis Budget Group, Inc.(a) | 628,220 | |||||
5,008 | Builders FirstSource, Inc.(a) | 726,360 | |||||
3,772 | Genuine Parts Company | 579,870 | |||||
2,553,840 | |||||||
SEMICONDUCTORS - 8.7% | |||||||
701 | Broadcom, Inc. | 646,946 | |||||
6,624 | Diodes, Inc.(a) | 542,174 | |||||
1,288 | KLA Corporation | 646,409 | |||||
7,176 | Microchip Technology, Inc. | 587,284 | |||||
3,128 | NXP Semiconductors N.V. | 643,492 | |||||
6,716 | ON Semiconductor Corporation(a) | 661,257 | |||||
26,128 | Photronics, Inc.(a) | 620,801 | |||||
12,328 | STMicroelectronics N.V. - ADR | 582,621 | |||||
22,264 | Vishay Intertechnology, Inc. | 610,924 | |||||
5,541,908 | |||||||
SOFTWARE - 4.7% | |||||||
16,100 | Digi International, Inc.(a) | 537,418 | |||||
81,384 | Immersion Corporation | 571,316 | |||||
20,608 | Nutanix, Inc., Class A(a) | 640,909 | |||||
14,720 | Open Text Corporation | 592,627 | |||||
6,900 | Wix.com Ltd.(a) | 681,513 | |||||
3,023,783 | |||||||
SPECIALTY FINANCE - 5.8% | |||||||
10,028 | AerCap Holdings N.V.(a) | 616,923 | |||||
14,339 | Atlanticus Holdings Corporation(a) | 500,431 | |||||
11,868 | Enova International, Inc.(a) | 598,741 | |||||
13,616 | Essent Group Ltd. | 683,796 |
INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% (Continued) | |||||||
SPECIALTY FINANCE - 5.8% (Continued) | |||||||
72,956 | EZCORP, Inc., Class A(a) | $ 613,560 | |||||
40,204 | MGIC Investment Corporation | 706,785 | |||||
3,720,236 | |||||||
STEEL - 3.1% | |||||||
4,048 | Nucor Corporation | 696,660 | |||||
2,392 | Reliance Steel & Aluminum Company | 681,624 | |||||
5,796 | Steel Dynamics, Inc. | 617,796 | |||||
1,996,080 | |||||||
TECHNOLOGY HARDWARE - 6.7% | |||||||
3,772 | Arista Networks, Inc.(a) | 736,408 | |||||
44,712 | Celestica, Inc.(a) | 1,042,236 | |||||
24,932 | Extreme Networks, Inc.(a) | 684,383 | |||||
5,888 | Jabil, Inc. | 673,705 | |||||
2,526 | Super Micro Computer, Inc.(a) | 694,852 | |||||
15,088 | ViaSat, Inc.(a) | 418,541 | |||||
4,250,125 | |||||||
TECHNOLOGY SERVICES - 2.8% | |||||||
6,373 | Amdocs Ltd. | 568,472 | |||||
1,730 | Gartner, Inc.(a) | 604,946 | |||||
7,268 | MAXIMUS, Inc. | 587,400 | |||||
1,760,818 | |||||||
TELECOMMUNICATIONS - 1.0% | |||||||
35,420 | EchoStar Corporation, Class A(a) | 615,600 | |||||
TRANSPORTATION & LOGISTICS - 3.8% | |||||||
48,300 | Ardmore Shipping Corporation | 600,852 | |||||
25,024 | Dorian, L.P.G Ltd. | 645,619 | |||||
5,152 | Expeditors International of Washington, Inc. | 601,290 | |||||
5,796 | Ryanair Holdings plc - ADR(a) | 575,253 | |||||
2,423,014 | |||||||
TRANSPORTATION EQUIPMENT - 1.0% | |||||||
7,820 | PACCAR, Inc. | 643,508 | |||||
INSPIRE FIDELIS MULTI FACTOR ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.7% (Continued) | |||||||
WHOLESALE - DISCRETIONARY - 2.1% | |||||||
14,168 | Copart, Inc.(a) | $ 635,151 | |||||
11,040 | ePlus, Inc.(a) | 732,836 | |||||
1,367,987 | |||||||
TOTAL COMMON STOCKS (Cost $57,456,948) | 63,660,168 | ||||||
TOTAL INVESTMENTS - 99.7% (Cost $57,456,948) | $ 63,660,168 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3% | 177,231 | ||||||
NET ASSETS - 100.0% | $ 63,837,399 | ||||||
ADR | - American Depositary Receipt |
LTD | - Limited Company |
N.V. | - Naamioze Vennootschap |
S.A. | - Société Anonyme |
(a) | Non-income producing security. |