STF Tactical Growth ETF | ||||||||
Schedule of Investments | ||||||||
June 30, 2023 (Unaudited) | ||||||||
Shares | Value | |||||||
COMMON STOCKS — 51.4% | ||||||||
Accommodation — 0.2% | ||||||||
Marriott International, Inc. - Class A | 1,631 | $ | 299,598 | |||||
Administrative and Support Services — 1.0% | ||||||||
Atlassian Corp. - Class A (a) | 776 | 130,220 | ||||||
Baker Hughes Co. | 5,326 | 168,355 | ||||||
Booking Holdings, Inc. (a) | 194 | 523,864 | ||||||
JD.com, Inc. - ADR (b) | 2,508 | 85,598 | ||||||
PayPal Holdings, Inc. (a) | 5,768 | 384,899 | ||||||
PDD Holdings, Inc. - ADR (a)(b) | 3,323 | 229,752 | ||||||
1,522,688 | ||||||||
Apparel Manufacturing — 0.2% | ||||||||
Lululemon Athletica, Inc. (a) | 640 | 242,240 | ||||||
Beverage and Tobacco Product Manufacturing — 1.2% | ||||||||
Keurig Dr. Pepper, Inc. | 7,440 | 232,649 | ||||||
Monster Beverage Corp. (a) | 5,446 | 312,818 | ||||||
PepsiCo, Inc. | 7,278 | 1,348,031 | ||||||
1,893,498 | ||||||||
Broadcasting (except Internet) — 0.8% | ||||||||
Comcast Corp. - Class A | 22,176 | 921,413 | ||||||
Sirius XM Holdings, Inc. | 20,167 | 91,357 | ||||||
Warner Bros Discovery, Inc. (a) | 12,955 | 162,455 | ||||||
1,175,225 | ||||||||
Chemical Manufacturing — 1.9% | ||||||||
Amgen, Inc. | 2,767 | 614,329 | ||||||
AstraZeneca PLC - ADR (b) | 3,199 | 228,952 | ||||||
Biogen, Inc. (a) | 754 | 214,777 | ||||||
Gilead Sciences, Inc. | 6,567 | 506,119 | ||||||
Moderna, Inc. (a) | 1,979 | 240,449 | ||||||
Regeneron Pharmaceuticals (a) | 559 | 401,664 | ||||||
Seagen, Inc. (a) | 966 | 185,916 | ||||||
Vertex Pharmaceuticals, Inc. (a) | 1,376 | 484,228 | ||||||
2,876,434 | ||||||||
Clothing and Clothing Accessories Stores — 0.3% | ||||||||
Charter Communications, Inc. - Class A (a) | 786 | 288,753 | ||||||
Ross Stores, Inc. | 1,807 | 202,619 | ||||||
491,372 | ||||||||
Computer and Electronic Product Manufacturing — 20.2% | ||||||||
Advanced Micro Devices, Inc. (a) | 8,517 | 970,171 | ||||||
Alphabet, Inc. - Class A (a) | 24,283 | 2,937,515 | ||||||
Alphabet, Inc. - Class C (a) | 24,723 | 2,959,343 | ||||||
Analog Devices, Inc. | 2,630 | 512,350 | ||||||
Apple, Inc. | 50,701 | 9,834,473 | ||||||
Broadcom, Inc. | 2,163 | 1,876,251 | ||||||
Cisco Systems, Inc. | 21,223 | 1,098,078 | ||||||
Enphase Energy, Inc. (a) | 682 | 114,221 | ||||||
Fortinet, Inc. (a) | 4,051 | 306,215 | ||||||
GE HealthCare Technologies, Inc. | 4,732 | 384,428 | ||||||
GLOBALFOUNDRIES, Inc. (a)(b) | 2,813 | 181,664 | ||||||
IDEXX Laboratories, Inc. (a) | 429 | 215,457 | ||||||
Illumina, Inc. (a) | 825 | 154,679 | ||||||
Intel Corp. | 21,068 | 704,514 | ||||||
Lam Research Corp. | 701 | 450,645 | ||||||
Marvell Technology, Inc. | 4,681 | 279,830 | ||||||
Microchip Technology, Inc. | 2,926 | 262,140 | ||||||
Micron Technology, Inc. | 5,845 | 368,878 | ||||||
NVIDIA Corp. | 12,534 | 5,302,133 | ||||||
NXP Semiconductors (b) | 1,347 | 275,704 | ||||||
ON Semiconductor Corp. (a) | 2,273 | 214,980 | ||||||
QUALCOMM, Inc. | 5,592 | 665,672 | ||||||
Texas Instruments, Inc. | 4,731 | 851,675 | ||||||
30,921,016 | ||||||||
Data Processing, Hosting and Related Services — 0.6% | ||||||||
Airbnb, Inc. - Class A (a) | 2,138 | 274,006 | ||||||
Automatic Data Processing, Inc. | 2,183 | 479,802 | ||||||
Verisk Analytics, Inc. | 796 | 179,920 | ||||||
933,728 | ||||||||
Food Manufacturing — 0.5% | ||||||||
The Kraft Heinz Co. | 6,489 | 230,360 | ||||||
Mondelez International, Inc. - Class A | 7,345 | 535,744 | ||||||
766,104 | ||||||||
Food Services and Drinking Places — 0.6% | ||||||||
Cintas Corp. | 524 | 260,470 | ||||||
Starbucks Corp. | 6,062 | 600,502 | ||||||
860,972 | ||||||||
General Merchandise Stores — 0.9% | ||||||||
Costco Wholesale Corp. | 2,319 | 1,248,503 | ||||||
Dollar Tree, Inc. (a) | 1,186 | 170,191 | ||||||
1,418,694 | ||||||||
Health and Personal Care Stores — 0.1% | ||||||||
Walgreens Boots Alliance, Inc. | 4,535 | 129,202 | ||||||
Machinery Manufacturing — 0.9% | ||||||||
Applied Materials, Inc. | 4,399 | 635,831 | ||||||
ASML Holding - ADR (b) | 463 | 335,559 | ||||||
KLA Corp. | 726 | 352,125 | ||||||
1,323,515 | ||||||||
Merchant Wholesalers, Durable Goods — 0.3% | ||||||||
Copart, Inc. (a) | 2,473 | 225,562 | ||||||
Fastenal Co. | 2,989 | 176,321 | ||||||
401,883 | ||||||||
Miscellaneous Manufacturing — 0.7% | ||||||||
Align Technology, Inc. (a) | 393 | 138,980 | ||||||
Dexcom, Inc. (a) | 2,037 | 261,775 | ||||||
Intuitive Surgical, Inc. (a) | 1,821 | 622,673 | ||||||
1,023,428 | ||||||||
Motor Vehicle and Parts Dealers — 0.2% | ||||||||
O'Reilly Automotive, Inc. (a) | 320 | 305,696 | ||||||
Nonstore Retailers — 3.8% | ||||||||
Amazon.com, Inc. (a) | 40,821 | 5,321,426 | ||||||
eBay, Inc. | 2,850 | 127,366 | ||||||
MercadoLibre, Inc. (a) | 268 | 317,473 | ||||||
5,766,265 | ||||||||
Other Information Services — 2.3% | ||||||||
CoStar Group, Inc. (a) | 2,117 | 188,413 | ||||||
Meta Platforms, Inc. - Class A (a) | 11,583 | 3,324,089 | ||||||
3,512,502 | ||||||||
Professional, Scientific, and Technical Services — 0.7% | ||||||||
Cognizant Technology Solutions - Class A | 2,679 | 174,885 | ||||||
Palo Alto Networks, Inc. (a) | 1,575 | 402,428 | ||||||
Paychex, Inc. | 1,902 | 212,777 | ||||||
Workday, Inc. - Class A (a) | 1,087 | 245,543 | ||||||
Zscaler, Inc. (a) | 727 | 106,360 | ||||||
1,141,993 | ||||||||
Publishing Industries (except Internet) — 9.1% | ||||||||
Activision Blizzard, Inc. (a) | 4,040 | 340,572 | ||||||
Adobe Systems, Inc. (a) | 2,362 | 1,154,994 | ||||||
ANSYS, Inc. (a) | 442 | 145,979 | ||||||
Autodesk, Inc. (a) | 1,148 | 234,892 | ||||||
Cadence Design Systems, Inc. (a) | 1,394 | 326,921 | ||||||
Crowdstrike Holdings, Inc. - Class A (a) | 1,115 | 163,760 | ||||||
Datadog, Inc. - Class A (a) | 1,522 | 149,734 | ||||||
Electronic Arts, Inc. | 1,432 | 185,731 | ||||||
Intuit, Inc. | 1,492 | 683,620 | ||||||
Microsoft Corp. | 29,962 | 10,203,260 | ||||||
Synopsys, Inc. (a) | 764 | 332,653 | ||||||
13,922,116 | ||||||||
Rail Transportation — 0.2% | ||||||||
CSX Corp. | 10,707 | 365,109 | ||||||
Rental and Leasing Services — 0.6% | ||||||||
Netflix, Inc. (a) | 2,253 | 992,424 | ||||||
Securities, Commodity Contracts, and Other Financial Investments and Related Activities — 0.0% | ||||||||
Lucid Group, Inc. (a) | 9,732 | 67,054 | ||||||
Support Activities for Mining — 0.1% | ||||||||
Diamondback Energy, Inc. | 978 | 128,470 | ||||||
Telecommunications — 0.6% | ||||||||
T-Mobile U.S., Inc. (a) | 6,370 | 884,793 | ||||||
Zoom Video Communications, Inc. - Class A (a) | 1,290 | 87,565 | ||||||
972,358 | ||||||||
Transportation Equipment Manufacturing — 2.7% | ||||||||
Honeywell International, Inc. | 3,487 | 723,552 | ||||||
PACCAR, Inc. | 2,743 | 229,452 | ||||||
Tesla, Inc. (a) | 12,283 | 3,215,321 | ||||||
4,168,325 | ||||||||
Truck Transportation — 0.1% | ||||||||
Old Dominion Freight Line, Inc. | 565 | 208,909 | ||||||
Utilities — 0.5% | ||||||||
American Electric Power Co., Inc. | 2,699 | 227,256 | ||||||
Constellation Energy Corp. | 1,694 | 155,085 | ||||||
Exelon Corp. | 5,189 | 211,400 | ||||||
Xcel Energy, Inc. | 2,876 | 178,801 | ||||||
772,542 | ||||||||
TOTAL COMMON STOCKS (Cost $59,513,165) | 78,603,360 | |||||||
Principal Amounts | ||||||||
U.S. GOVERNMENT OBLIGATIONS — 46.9% | ||||||||
U.S. Treasury Notes — 46.9% | ||||||||
5.03%, 04/15/2024 (c) | 7,391,700 | $ | 7,106,409 | |||||
2.97%, 04/30/2024 (c) | 7,391,700 | 7,215,570 | ||||||
3.20%, 04/30/2024 (c) | 7,391,700 | 7,201,133 | ||||||
3.41%, 04/30/2024 (c) | 7,391,700 | 7,186,695 | ||||||
2.94%, 05/15/2024 (c) | 7,391,700 | 7,206,633 | ||||||
5.19%, 05/15/2024 (c) | 7,391,700 | 7,068,322 | ||||||
2.92%, 05/31/2024 (c) | 7,391,700 | 7,199,429 | ||||||
3.44%, 05/31/2024 (c) | 7,391,700 | 7,165,645 | ||||||
5.21%, 06/15/2024 (c) | 7,391,700 | 7,038,321 | ||||||
2.43%, 06/30/2024 (c) | 7,391,700 | 7,217,648 | ||||||
TOTAL U.S. TREASURY NOTES (Cost $71,754,233) | 71,605,805 | |||||||
Total Investments (Cost $131,267,398) — 98.3% | 150,209,165 | |||||||
Other assets and liabilities, net — 1.7% | 2,623,799 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 152,832,964 |
ADR American Depositary Receipt | |||||||
PLC Public Limited Company | |||||||
(a) Non-income producing security. | |||||||
(b) Foreign issued security. | |||||||
(c) The rate shown is the effective yield as of June 30, 2023. | |||||||
Percentages are stated as a percent of net assets. |
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 June 30, 2023: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments - Assets: | ||||||||||||||||
Common Stocks * | $ | 78,603,360 | $ | - | $ | - | $ | 78,603,360 | ||||||||
U.S. Treasury Notes | - | 71,605,805 | - | 71,605,805 | ||||||||||||
Total Investments - Assets | $ | 78,603,360 | $ | 71,605,805 | $ | - | $ | 150,209,165 | ||||||||
* See the Schedule of Investments for industry classifications. |