Wahed FTSE USA Shariah ETF | ||||||||
Schedule of Investments | ||||||||
August 31, 2021 (Unaudited) | ||||||||
Shares | Value | |||||||
COMMON STOCKS — 98.0% | ||||||||
Administrative and Support Services — 0.5% | ||||||||
Baker Hughes Co. | 7,210 | $ | 164,244 | |||||
FleetCor Technologies, Inc. (a) | 782 | 205,885 | ||||||
GXO Logistics, Inc. (a) | 895 | 73,202 | ||||||
Robert Half International, Inc. | 1,065 | 110,121 | ||||||
Rollins, Inc. | 2,206 | 85,857 | ||||||
639,309 | ||||||||
Air Transportation — 0.1% | ||||||||
Delta Air Lines, Inc. (a) | 1,567 | 63,370 | ||||||
United Airlines Holdings, Inc. (a) | 783 | 36,417 | ||||||
99,787 | ||||||||
Ambulatory Health Care Services — 0.5% | ||||||||
Laboratory Corp of America Holdings (a) | 943 | 286,088 | ||||||
Quest Diagnostics, Inc. | 1,276 | 195,011 | ||||||
Teladoc Health, Inc. (a) | 1,422 | 205,365 | ||||||
686,464 | ||||||||
Apparel Manufacturing — 0.7% | ||||||||
Cintas Corp. | 869 | 343,924 | ||||||
Lululemon Athletica, Inc. (a) | 1,101 | 440,587 | ||||||
VF Corp. | 3,163 | 241,875 | ||||||
1,026,386 | ||||||||
Beverage and Tobacco Product Manufacturing — 0.5% | ||||||||
Coca-Cola Europacific Partners PLC (b) | 1,971 | 113,806 | ||||||
Keurig Dr. Pepper, Inc. | 6,839 | 243,947 | ||||||
Monster Beverage Corp. (a) | 3,641 | 355,252 | ||||||
713,005 | ||||||||
Broadcasting (Except Internet) — 0.2% | ||||||||
Liberty Broadband Corp. - Class A (a) | 230 | 42,727 | ||||||
Liberty Broadband Corp. - Class C (a) | 1,478 | 282,771 | ||||||
325,498 | ||||||||
Building Material and Garden Equipment and Supplies Dealers — 0.1% | ||||||||
Snap-on, Inc. | 510 | 114,724 | ||||||
Chemical Manufacturing — 19.1% | ||||||||
Abbott Laboratories | 17,200 | 2,173,564 | ||||||
Air Products & Chemicals, Inc. | 2,160 | 582,142 | ||||||
Albemarle Corp. | 1,137 | 269,173 | ||||||
AstraZeneca PLC - ADR (b) | 4,678 | 272,634 | ||||||
Biogen, Inc. (a) | 1,485 | 503,281 | ||||||
BioMarin Pharmaceutical, Inc. (a) | 1,775 | 149,473 | ||||||
Bristol-Myers Squibb Co. | 21,919 | 1,465,504 | ||||||
Catalent, Inc. (a) | 1,586 | 206,878 | ||||||
CF Industries Holdings, Inc. | 2,079 | 94,428 | ||||||
Church & Dwight Co., Inc. | 2,403 | 201,035 | ||||||
Dow, Inc. | 7,326 | 460,805 | ||||||
DuPont de Nemours, Inc. | 5,322 | 393,934 | ||||||
Ecolab, Inc. | 2,444 | 550,780 | ||||||
Eli Lilly & Co. | 8,351 | 2,156,980 | ||||||
FMC Corp. | 1,263 | 118,255 | ||||||
Horizon Therapeutics PLC (a)(b) | 2,133 | 230,556 | ||||||
International Flavors & Fragrances, Inc. | 2,434 | 368,751 | ||||||
Jazz Pharmaceuticals PLC (a)(b) | 577 | 75,997 | ||||||
Johnson & Johnson | 26,011 | 4,503,284 | ||||||
Linde PLC (b) | 5,143 | 1,617,936 | ||||||
Merck & Co., Inc. | 25,038 | 1,910,149 | ||||||
Organon & Co. | 2,473 | 83,810 | ||||||
Perrigo Co. PLC (b) | 1,304 | 53,399 | ||||||
Pfizer, Inc. | 55,248 | 2,545,275 | ||||||
PPG Industries, Inc. | 2,311 | 368,720 | ||||||
Regeneron Pharmaceuticals, Inc. (a) | 982 | 661,279 | ||||||
The Estee Lauder Cos., Inc. - Class A | 2,244 | 764,060 | ||||||
The Procter & Gamble Co. | 24,030 | 3,421,632 | ||||||
West Pharmaceutical Services, Inc. | 718 | 324,263 | ||||||
Westlake Chemical Corp. | 319 | 27,865 | ||||||
26,555,842 | ||||||||
Computer and Electronic Product Manufacturing — 32.4% (c) | ||||||||
Advanced Micro Devices, Inc. (a) | 11,970 | 1,325,318 | ||||||
Agilent Technologies, Inc. | 2,978 | 522,550 | ||||||
Analog Devices, Inc. | 3,600 | 586,620 | ||||||
Apple, Inc. | 154,874 | 23,514,519 | ||||||
Bio-Rad Laboratories, Inc. - Class A (a) | 199 | 160,159 | ||||||
Cisco Systems, Inc. | 41,800 | 2,467,036 | ||||||
Danaher Corp. | 6,244 | 2,024,055 | ||||||
Dell Technologies, Inc. - Class C (a) | 2,667 | 259,926 | ||||||
Fortive Corp. | 3,186 | 235,350 | ||||||
Hologic, Inc. (a) | 2,474 | 195,817 | ||||||
HP, Inc. | 12,229 | 363,690 | ||||||
IDEXX Laboratories, Inc. (a) | 809 | 545,072 | ||||||
Intel Corp. | 39,947 | 2,159,535 | ||||||
Juniper Networks, Inc. | 3,169 | 91,838 | ||||||
Marvell Technology, Inc. | 7,898 | 483,279 | ||||||
Medtronic PLC (b) | 13,306 | 1,776,085 | ||||||
Micron Technology, Inc. (a) | 10,985 | 809,594 | ||||||
NXP Semiconductors NV (b) | 2,699 | 580,636 | ||||||
PerkinElmer, Inc. | 1,083 | 200,138 | ||||||
QUALCOMM, Inc. | 11,145 | 1,634,860 | ||||||
Texas Instruments, Inc. | 9,119 | 1,740,908 | ||||||
Thermo Fisher Scientific, Inc. | 3,865 | 2,144,882 | ||||||
Trane Technologies PLC (b) | 2,328 | 462,108 | ||||||
Trimble, Inc. (a) | 2,446 | 230,462 | ||||||
Western Digital Corp. (a) | 3,000 | 189,600 | ||||||
Zebra Technologies Corp. - Class A (a) | 522 | 306,503 | ||||||
45,010,540 |
Construction of Buildings — 0.5% | ||||||||
DR Horton, Inc. | 3,256 | 311,339 | ||||||
Lennar Corp. - Class A | 2,660 | 285,445 | ||||||
Lennar Corp. - Class B | 152 | 13,303 | ||||||
PulteGroup, Inc. | 2,563 | 138,043 | ||||||
748,130 | ||||||||
Couriers and Messengers — 1.5% | ||||||||
FedEx Corp. | 2,402 | 638,187 | ||||||
United Parcel Service, Inc. - Class B | 7,154 | 1,399,537 | ||||||
2,037,724 | ||||||||
Electrical Equipment, Appliance, and Component Manufacturing — 0.9% | ||||||||
Eaton Corp PLC (b) | 3,962 | 667,042 | ||||||
Plug Power, Inc. (a) | 4,882 | 127,225 | ||||||
Rockwell Automation, Inc. | 1,136 | 369,711 | ||||||
Whirlpool Corp. | 595 | 131,811 | ||||||
1,295,789 | ||||||||
Fabricated Metal Product Manufacturing — 0.9% | ||||||||
Emerson Electric Co. | 5,840 | 616,120 | ||||||
Nucor Corp. | 2,916 | 342,805 | ||||||
Stanley Black & Decker, Inc. | 1,610 | 311,165 | ||||||
1,270,090 | ||||||||
Food Manufacturing — 1.0% | ||||||||
Archer-Daniels-Midland Co. | 5,443 | 326,580 | ||||||
Bunge Ltd. (b) | 1,336 | 101,149 | ||||||
Mondelez International, Inc. - Class A | 13,673 | 848,683 | ||||||
The JM Smucker Co. | 1,033 | 127,751 | ||||||
1,404,163 | ||||||||
Funds, Trusts and Other Financial Vehicles — 0.2% | ||||||||
Garmin Ltd. (b) | 1,474 | 257,110 | ||||||
Furniture and Related Product Manufacturing — 0.1% | ||||||||
Fortune Brands Home & Security, Inc. | 1,342 | 130,671 | ||||||
Gasoline Stations — 1.3% | ||||||||
Chevron Corp. | 19,138 | 1,851,984 | ||||||
General Merchandise Stores — 0.3% | ||||||||
Burlington Stores, Inc. (a) | 639 | 191,374 | ||||||
Dollar Tree, Inc. (a) | 2,268 | 205,345 | ||||||
396,719 | ||||||||
Health and Personal Care Stores — 1.2% | ||||||||
CVS Health Corp. | 13,038 | 1,126,353 | ||||||
Ulta Beauty, Inc. (a) | 514 | 199,077 | ||||||
Walgreens Boots Alliance, Inc. | 7,171 | 363,928 | ||||||
1,689,358 |
Hospitals — 0.1% | ||||||||
Universal Health Services, Inc. - Class B | 737 | 114,795 | ||||||
Leather and Allied Product Manufacturing — 1.4% | ||||||||
NIKE, Inc. - Class B | 12,216 | 2,012,464 | ||||||
Machinery Manufacturing — 2.5% | ||||||||
Applied Materials, Inc. | 8,983 | 1,213,873 | ||||||
Carrier Global Corp. | 8,511 | 490,234 | ||||||
Cummins, Inc. | 1,429 | 337,216 | ||||||
Dover Corp. | 1,406 | 245,150 | ||||||
IDEX Corp. | 739 | 165,536 | ||||||
Ingersoll Rand, Inc. (a) | 3,670 | 194,583 | ||||||
KLA Corp. | 1,491 | 506,880 | ||||||
Pentair PLC (b) | 1,610 | 124,228 | ||||||
Xylem, Inc. | 1,746 | 237,997 | ||||||
3,515,697 | ||||||||
Management of Companies and Enterprises — 0.1% | ||||||||
Ceridian HCM Holding, Inc. (a) | 1,264 | 142,010 | ||||||
Merchant Wholesalers, Durable Goods — 1.4% | ||||||||
Copart, Inc. (a) | 2,038 | 294,124 | ||||||
Fastenal Co. | 5,777 | 322,645 | ||||||
Flex Ltd. (a)(b) | 4,871 | 90,503 | ||||||
Genuine Parts Co. | 1,370 | 167,400 | ||||||
Henry Schein, Inc. (a) | 1,366 | 103,256 | ||||||
LKQ Corp. (a) | 2,735 | 144,107 | ||||||
Pool Corp. | 382 | 188,823 | ||||||
TE Connectivity Ltd. (b) | 3,234 | 485,812 | ||||||
WW Grainger, Inc. | 451 | 195,599 | ||||||
1,992,269 | ||||||||
Merchant Wholesalers. Nondurable Goods — 0.4% | ||||||||
AmerisourceBergen Corp. | 1,434 | 175,249 | ||||||
Cardinal Health, Inc. | 2,843 | 149,229 | ||||||
McKesson Corp. | 1,560 | 318,458 | ||||||
642,936 | ||||||||
Mining (Except Oil and Gas) — 1.1% | ||||||||
Freeport-McMoRan, Inc. | 14,344 | 521,978 | ||||||
Martin Marietta Materials, Inc. | 603 | 229,894 | ||||||
Newmont Corp. | 7,863 | 455,975 | ||||||
Southern Copper Corp. | 810 | 50,698 | ||||||
Vulcan Materials Co. | 1,292 | 240,222 | ||||||
1,498,767 |
Miscellaneous Manufacturing — 3.6% | ||||||||
Align Technology, Inc. (a) | 763 | 540,967 | ||||||
Baxter International, Inc. | 4,929 | 375,688 | ||||||
Becton Dickinson and Co. | 2,831 | 712,563 | ||||||
Boston Scientific Corp. (a) | 13,915 | 628,262 | ||||||
DENTSPLY SIRONA, Inc. | 2,127 | 131,236 | ||||||
Edwards Lifesciences Corp. (a) | 6,137 | 719,134 | ||||||
STERIS PLC (b) | 951 | 204,475 | ||||||
Stryker Corp. | 3,414 | 946,019 | ||||||
Teleflex, Inc. | 453 | 179,143 | ||||||
The Cooper Cos., Inc. | 467 | 210,482 | ||||||
Zimmer Biomet Holdings, Inc. | 2,036 | 306,316 | ||||||
4,954,285 | ||||||||
Miscellaneous Store Retailers — 0.2% | ||||||||
Tractor Supply Co. | 1,127 | 218,920 | ||||||
Motor Vehicle and Parts Dealers — 0.7% | ||||||||
Advance Auto Parts, Inc. | 631 | 127,998 | ||||||
AutoZone, Inc. (a) | 206 | 319,125 | ||||||
O'Reilly Automotive, Inc. (a) | 662 | 393,281 | ||||||
Sensata Technologies Holding PLC (a)(b) | 1,509 | 89,303 | ||||||
929,707 | ||||||||
Nonmetallic Mineral Product Manufacturing — 1.1% | ||||||||
3M Co. | 5,720 | 1,113,913 | ||||||
Corning, Inc. | 7,455 | 298,126 | ||||||
Mohawk Industries, Inc. (a) | 540 | 106,790 | ||||||
1,518,829 | ||||||||
Nonstore Retailers — 0.4% | ||||||||
eBay, Inc. | 6,749 | 517,918 | ||||||
Oil and Gas Extraction — 0.8% | ||||||||
Cabot Oil & Gas Corp. | 3,840 | 61,018 | ||||||
EOG Resources, Inc. | 5,707 | 385,337 | ||||||
Phillips 66 | 4,282 | 304,407 | ||||||
Pioneer Natural Resources Co. | 2,159 | 323,137 | ||||||
1,073,899 | ||||||||
Paper Manufacturing — 0.5% | ||||||||
Avery Dennison Corp. | 797 | 179,636 | ||||||
International Paper Co. | 3,831 | 230,205 | ||||||
Packaging Corp. of America | 909 | 137,895 | ||||||
Westrock Co. | 2,548 | 132,598 | ||||||
680,334 | ||||||||
Petroleum and Coal Products Manufacturing — 1.8% | ||||||||
Exxon Mobil Corp. | 41,818 | 2,279,917 | ||||||
Valero Energy Corp. | 3,993 | 264,776 | ||||||
2,544,693 | ||||||||
Primary Metal Manufacturing — 0.1% | ||||||||
Steel Dynamics, Inc. | 1,966 | 132,685 | ||||||
Professional, Scientific and Technical Services — 2.3% | ||||||||
Amdocs Ltd. (b) | 1,267 | 97,597 | ||||||
CDW Corp. | 1,358 | 272,428 | ||||||
Cerner Corp. | 2,954 | 225,538 | ||||||
Cognizant Technology Solutions Corp. - Class A | 5,153 | 393,226 | ||||||
F5 Networks, Inc. (a) | 581 | 118,274 | ||||||
Gartner, Inc. (a) | 808 | 249,462 | ||||||
International Business Machines Corp. | 8,799 | 1,234,852 | ||||||
Jack Henry & Associates, Inc. | 721 | 127,170 | ||||||
Omnicom Group, Inc. | 2,073 | 151,785 | ||||||
The Interpublic Group of Cos., Inc. | 3,835 | 142,777 | ||||||
VMware, Inc. - Class A (a) | 777 | 115,672 | ||||||
3,128,781 | ||||||||
Publishing Industries (Except Internet) — 7.6% | ||||||||
Adobe, Inc. (a) | 4,714 | 3,128,682 | ||||||
Akamai Technologies, Inc. (a) | 1,571 | 177,916 | ||||||
ANSYS, Inc. (a) | 851 | 310,921 | ||||||
Autodesk, Inc. (a) | 2,186 | 677,857 | ||||||
Cadence Design Systems, Inc. (a) | 2,691 | 439,925 | ||||||
Citrix Systems, Inc. | 1,202 | 123,650 | ||||||
DocuSign, Inc. (a) | 1,863 | 551,895 | ||||||
Hewlett Packard Enterprise Co. | 12,745 | 197,038 | ||||||
Intuit, Inc. | 2,525 | 1,429,428 | ||||||
News Corp. - Class A | 3,816 | 85,746 | ||||||
News Corp. - Class B | 1,179 | 25,973 | ||||||
Paycom Software, Inc. (a) | 487 | 238,094 | ||||||
PTC, Inc. (a) | 1,026 | 135,083 | ||||||
Salesforce.com, Inc. (a) | 8,741 | 2,318,725 | ||||||
Synopsys, Inc. (a) | 1,477 | 490,718 | ||||||
Tyler Technologies, Inc. (a) | 380 | 184,566 | ||||||
10,516,217 | ||||||||
Rail Transportation — 0.5% | ||||||||
Norfolk Southern Corp. | 2,472 | 626,751 | ||||||
Securities, Commodity Contracts, and Other Financial Investments and Related Activities — 0.1% | ||||||||
Clarivate PLC (a)(b) | 4,009 | 100,987 | ||||||
Specialty Trade Contractors — 0.4% | ||||||||
Johnson Controls International PLC (b) | 7,020 | 525,096 | ||||||
Support Activities for Agriculture and Forestry — 0.2% | ||||||||
Corteva, Inc. | 7,389 | 324,894 | ||||||
Support Activities for Mining — 0.6% | ||||||||
ConocoPhillips | 13,366 | 742,214 | ||||||
Diamondback Energy, Inc. | 1,758 | 135,612 | ||||||
877,826 | ||||||||
Support Activities for Transportation — 0.4% | ||||||||
CH Robinson Worldwide, Inc. | 1,356 | 122,121 | ||||||
Expeditors International of Washington, Inc. | 1,636 | 203,911 | ||||||
JB Hunt Transport Services, Inc. | 809 | 143,517 | ||||||
XPO Logistics, Inc. (a) | 895 | 77,784 | ||||||
547,333 | ||||||||
Telecommunications — 0.9% | ||||||||
ResMed, Inc. | 1,409 | 409,357 | ||||||
T-Mobile US, Inc. (a) | 5,836 | 799,648 | ||||||
1,209,005 | ||||||||
Transit and Ground Passenger Transportation — 0.5% | ||||||||
Uber Technologies, Inc. (a) | 15,960 | 624,674 | ||||||
Transportation Equipment Manufacturing — 4.9% | ||||||||
Aptiv PLC (a)(b) | 2,630 | 400,260 | ||||||
Autoliv, Inc. | 855 | 75,573 | ||||||
BorgWarner, Inc. | 2,337 | 99,743 | ||||||
Gentex Corp. | 2,354 | 72,503 | ||||||
Lear Corp. | 584 | 93,405 | ||||||
PACCAR, Inc. | 3,326 | 272,300 | ||||||
Tesla, Inc. (a) | 7,651 | 5,628,994 | ||||||
Westinghouse Air Brake Technologies Corp. | 1,766 | 158,569 | ||||||
6,801,347 | ||||||||
Truck Transportation — 0.2% | ||||||||
Old Dominion Freight Line, Inc. | 998 | 288,143 | ||||||
Utilities — 1.2% | ||||||||
Atmos Energy Corp. | 1,266 | 123,448 | ||||||
Avangrid, Inc. | 542 | 29,620 | ||||||
Edison International | 3,653 | 211,289 | ||||||
Exelon Corp. | 9,569 | 469,072 | ||||||
Pinnacle West Capital Corp. | 1,089 | 83,744 | ||||||
Public Service Enterprise Group, Inc. | 4,940 | 315,864 | ||||||
Sempra Energy | 3,091 | 409,125 | ||||||
1,642,162 | ||||||||
TOTAL COMMON STOCKS (Cost $106,887,635) | 135,956,717 | |||||||
REITS — 1.5% | ||||||||
Real Estate — 1.5% | ||||||||
Equinix, Inc. | 872 | 735,488 | ||||||
Prologis, Inc. | 7,222 | 972,515 | ||||||
Regency Centers Corp. | 1,641 | 112,606 | ||||||
Weyerhaeuser Co. | 7,526 | 270,936 | ||||||
TOTAL REITS (Cost $1,728,720) | 2,091,545 | |||||||
TOTAL INVESTMENTS — 99.5% | ||||||||
(Cost $108,616,355) | 138,048,262 | |||||||
Other assets and liabilities, net — 0.5% | 746,287 | |||||||
NET ASSETS — 100.0% | $ | 138,794,549 |
Percentages are stated as a percent of net assets. | |||||||||
ADR | American Depositary Receipt | ||||||||
PLC | Public Limited Company | ||||||||
REIT | Real Estate Investment Trust | ||||||||
(a) | Non-income producing security. | ||||||||
(b) | Foreign issued security. | ||||||||
(c) | To the extent the Fund invests more heavily in particular sectors of the economy, its performance will be especially sensitive to developments that significantly affect those sectors. |
Fair Value Measurements | |||||||||
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. | |||||||||
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs | |||||||||
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant | |||||||||
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the | |||||||||
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. | |||||||||
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3. | |||||||||
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of August 31, 2021: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets*: | ||||||||||||||||
Common Stocks | $ | 135,956,717 | $ | - | $ | - | $ | 135,956,717 | ||||||||
REITs | 2,091,545 | - | - | 2,091,545 | ||||||||||||
Total Investments in Securities | $ | 138,048,262 | $ | - | $ | - | $ | 138,048,262 | ||||||||
* See the Schedule of Investments for industry classifications. |