Wahed FTSE USA Shariah ETF |
Schedule of Investments |
February 29, 2024 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS — 98.9% | |||||||
Administrative and Support Services — 0.2% | |||||||
Baker Hughes Co. | 18,894 | $ | 559,073 | ||||
Robert Half International, Inc. | 1,898 | 152,599 | |||||
Rollins, Inc. | 4,312 | 190,030 | |||||
901,702 | |||||||
Air Transportation — 0.1% | |||||||
Delta Air Lines, Inc. | 3,000 | 126,810 | |||||
United Airlines Holdings, Inc. (a) | 1,511 | 68,735 | |||||
195,545 | |||||||
Ambulatory Health Care Services — 0.1% | |||||||
Laboratory Corp. of America Holdings | 1,555 | 335,616 | |||||
Quest Diagnostics, Inc. | 1,947 | 243,161 | |||||
578,777 | |||||||
Apparel Manufacturing — 0.2% | |||||||
Lululemon Athletica, Inc. (a) | 2,066 | 965,008 | |||||
Beverage and Tobacco Product Manufacturing — 1.2% | |||||||
Keurig Dr. Pepper, Inc. | 17,262 | 516,306 | |||||
The Coca-Cola Co. | 72,671 | 4,361,713 | |||||
4,878,019 | |||||||
Broadcasting (except Internet) — 0.1% | |||||||
Liberty Broadband Corp. - Class A (a) | 276 | 16,601 | |||||
Liberty Broadband Corp. - Class C (a) | 2,153 | 129,568 | |||||
Liberty Media Corp. - Liberty Formula One - Class A (a) | 432 | 28,318 | |||||
Liberty Media Corp. - Liberty Formula One - Class C (a) | 3,585 | 260,845 | |||||
435,332 | |||||||
Building Material and Garden Equipment and Supplies Dealers — 0.1% | |||||||
Snap-on, Inc. | 939 | 258,845 | |||||
Chemical Manufacturing — 12.1% | |||||||
Abbott Laboratories | 32,288 | 3,830,648 | |||||
Air Products & Chemicals, Inc. | 4,122 | 964,713 | |||||
Albemarle Corp. | 2,074 | 285,901 | |||||
Biogen, Inc. (a) | 2,601 | 564,391 | |||||
BioMarin Pharmaceutical, Inc. (a) | 3,471 | 299,478 | |||||
Bio-Techne Corp. | 2,876 | 211,587 | |||||
Bristol-Myers Squibb Co. | 37,537 | 1,905,003 | |||||
CF Industries Holdings, Inc. | 3,561 | 287,444 | |||||
Church & Dwight Co., Inc. | 4,531 | 453,644 | |||||
Dow, Inc. | 13,173 | 736,107 | |||||
DuPont de Nemours, Inc. | 8,536 | 590,606 | |||||
Eli Lilly & Co. | 15,745 | 11,866,692 | |||||
FMC Corp. | 2,327 | 131,220 | |||||
Gilead Sciences, Inc. | 23,074 | 1,663,635 | |||||
International Flavors & Fragrances, Inc. | 4,749 | 358,549 | |||||
Linde PLC (b) | 8,971 | 4,026,364 | |||||
Merck & Co., Inc. | 47,114 | 5,990,545 | |||||
Pfizer, Inc. | 105,438 | 2,800,433 | |||||
PPG Industries, Inc. | 4,370 | 618,792 | |||||
Regeneron Pharmaceuticals, Inc. (a) | 1,887 | 1,823,012 | |||||
The Estee Lauder Cos., Inc. - Class A | 4,142 | 615,418 | |||||
The Mosaic Co. | 6,149 | 191,603 | |||||
The Procter & Gamble Co. | 43,794 | 6,960,618 | |||||
West Pharmaceutical Services, Inc. | 1,374 | 492,387 | |||||
Westlake Chemical Corp. | 576 | 79,897 | |||||
47,748,687 | |||||||
Clothing and Clothing Accessories Stores — 0.8% | |||||||
Ross Stores, Inc. | 6,234 | 928,617 | |||||
The TJX Cos., Inc. | 21,464 | 2,127,941 | |||||
3,056,558 | |||||||
Computer and Electronic Product Manufacturing — 24.3% | |||||||
Advanced Micro Devices, Inc. (a) | 29,735 | 5,724,880 | |||||
Agilent Technologies, Inc. | 5,435 | 746,552 | |||||
Analog Devices, Inc. | 9,291 | 1,782,200 | |||||
Apple, Inc. | 274,303 | 49,580,267 | |||||
Bio-Rad Laboratories, Inc. - Class A (a) | 378 | 123,183 | |||||
Cisco Systems, Inc. | 75,661 | 3,659,723 | |||||
Danaher Corp. | 12,183 | 3,084,005 | |||||
Flex Ltd. (a)(b) | 7,489 | 210,815 | |||||
Fortive Corp. | 6,565 | 558,878 | |||||
GE Healthcare Technologies, Inc. | 7,241 | 660,958 | |||||
GlobalFoundries, Inc. (a)(b) | 1,448 | 79,162 | |||||
Hologic, Inc. (a) | 4,233 | 312,395 | |||||
HP, Inc. | 16,094 | 455,943 | |||||
IDEXX Laboratories, Inc. (a) | 1,490 | 857,093 | |||||
Illumina, Inc. (a) | 2,919 | 408,164 | |||||
Intel Corp. | 78,407 | 3,375,421 | |||||
Juniper Networks, Inc. | 5,903 | 218,588 | |||||
Lam Research Corp. | 2,423 | 2,273,380 | |||||
Marvell Technology, Inc. | 15,937 | 1,142,045 | |||||
Masimo Corp. (a) | 790 | 101,547 | |||||
Medtronic PLC (b) | 24,760 | 2,063,994 | |||||
Micron Technology, Inc. | 20,376 | 1,846,269 | |||||
NetApp, Inc. | 3,901 | 347,657 | |||||
NXP Semiconductors NV (b) | 4,812 | 1,201,701 | |||||
ON Semiconductor Corp. (a) | 8,033 | 633,964 | |||||
Qorvo, Inc. (a) | 1,665 | 190,726 | |||||
QUALCOMM, Inc. | 20,792 | 3,280,770 | |||||
Revvity, Inc. | 2,279 | 249,756 | |||||
Roper Technologies, Inc. | 1,940 | 1,056,776 | |||||
Teradyne, Inc. | 2,851 | 295,335 | |||||
Texas Instruments, Inc. | 16,936 | 2,833,901 | |||||
Thermo Fisher Scientific, Inc. | 7,175 | 4,091,041 | |||||
Trane Technologies PLC (b) | 4,220 | 1,189,913 | |||||
Trimble, Inc. (a) | 4,565 | 279,332 | |||||
Western Digital Corp. (a) | 6,038 | 359,080 | |||||
Zebra Technologies Corp. - Class A (a) | 925 | 258,519 | |||||
95,533,933 | |||||||
Construction of Buildings — 0.5% | |||||||
DR Horton, Inc. | 5,786 | 864,660 | |||||
Lennar Corp. - Class A | 4,546 | 720,586 | |||||
Lennar Corp. - Class B | 221 | 32,569 | |||||
PulteGroup, Inc. | 3,993 | 432,761 | |||||
2,050,576 | |||||||
Couriers and Messengers — 0.8% | |||||||
FedEx Corp. | 4,324 | 1,076,546 | |||||
United Parcel Service, Inc. - Class B | 13,488 | 1,999,731 | |||||
3,076,277 | |||||||
Data Processing, Hosting and Related Services — 0.9% | |||||||
Automatic Data Processing, Inc. | 7,708 | 1,935,710 | |||||
Fiserv, Inc. (a) | 11,133 | 1,661,823 | |||||
3,597,533 | |||||||
Electrical Equipment, Appliance and Component Manufacturing — 0.3% | |||||||
Generac Holdings, Inc. (a) | 1,119 | 125,899 | |||||
Hubbell, Inc. | 998 | 379,909 | |||||
Rockwell Automation, Inc. | 2,127 | 606,365 | |||||
1,112,173 | |||||||
Fabricated Metal Product Manufacturing — 0.6% | |||||||
Emerson Electric Co. | 10,421 | 1,113,484 | |||||
Nucor Corp. | 4,636 | 891,503 | |||||
Stanley Black & Decker, Inc. | 2,834 | 253,048 | |||||
2,258,035 | |||||||
Food Manufacturing — 0.7% | |||||||
Archer-Daniels-Midland Co. | 9,957 | 528,816 | |||||
Bunge Ltd. (b) | 2,693 | 254,138 | |||||
Mondelez International, Inc. - Class A | 25,357 | 1,852,836 | |||||
The JM Smucker Co. | 1,888 | 226,881 | |||||
WK Kellogg Co. | 1,189 | 17,407 | |||||
2,880,078 | |||||||
Food Services and Drinking Places — 0.3% | |||||||
Cintas Corp. | 1,587 | 997,604 | |||||
Funds, Trusts and Other Financial Vehicles — 0.1% | |||||||
Garmin Ltd. (b) | 2,843 | 390,486 | |||||
General Merchandise Stores — 0.2% | |||||||
Burlington Stores, Inc. (a) | 1,183 | 242,633 | |||||
Dollar Tree, Inc. (a) | 3,761 | 551,663 | |||||
794,296 | |||||||
Health and Personal Care Stores — 0.2% | |||||||
Ulta Beauty, Inc. (a) | 891 | 488,767 | |||||
Walgreens Boots Alliance, Inc. | 13,349 | 283,800 | |||||
772,567 | |||||||
Leather and Allied Product Manufacturing — 0.6% | |||||||
NIKE, Inc. - Class B | 22,192 | 2,306,415 | |||||
Machinery Manufacturing — 2.2% | |||||||
Applied Materials, Inc. | 15,590 | 3,143,256 | |||||
Carrier Global Corp. | 15,510 | 862,046 | |||||
Cummins, Inc. | 2,612 | 701,609 | |||||
Dover Corp. | 2,482 | 410,473 | |||||
IDEX Corp. | 1,401 | 330,496 | |||||
Ingersoll Rand, Inc. | 7,311 | 667,714 | |||||
KLA Corp. | 2,535 | 1,729,630 | |||||
Pentair PLC (b) | 3,051 | 237,337 | |||||
Xylem, Inc. | 4,411 | 560,418 | |||||
8,642,979 | |||||||
Merchant Wholesalers Durable Goods — 1.2% | |||||||
Fastenal Co. | 10,645 | 777,191 | |||||
Genuine Parts Co. | 2,484 | 370,762 | |||||
Henry Schein, Inc. (a) | 2,418 | 184,904 | |||||
Johnson Controls International PLC (b) | 12,328 | 730,681 | |||||
LKQ Corp. | 4,967 | 259,724 | |||||
NEXTracker, Inc. - Class A (a) | 1,281 | 72,043 | |||||
Pool Corp. | 665 | 264,750 | |||||
STERIS PLC (b) | 1,830 | 426,225 | |||||
TE Connectivity Ltd. (b) | 5,829 | 836,811 | |||||
WW Grainger, Inc. | 807 | 785,582 | |||||
4,708,673 | |||||||
Merchant Wholesalers Nondurable Goods — 0.8% | |||||||
Cardinal Health, Inc. | 4,571 | 511,861 | |||||
Cencora, Inc. | 3,011 | 709,392 | |||||
LyondellBasell Industries NV - Class A (b) | 4,806 | 481,946 | |||||
McKesson Corp. | 2,476 | 1,291,011 | |||||
Vestis Corp. | 2,163 | 40,578 | |||||
3,034,788 | |||||||
Mining (except Oil and Gas) — 0.5% | |||||||
Martin Marietta Materials, Inc. | 1,135 | 655,701 | |||||
Newmont Corp. | 21,522 | 672,562 | |||||
Southern Copper Corp. | 1,563 | 126,384 | |||||
Vulcan Materials Co. | 2,455 | 652,662 | |||||
2,107,309 | |||||||
Miscellaneous Manufacturing — 4.2% | |||||||
3M Co. | 10,059 | 926,635 | |||||
Align Technology, Inc. (a) | 1,414 | 427,622 | |||||
Becton Dickinson and Co. | 5,393 | 1,270,321 | |||||
Boston Scientific Corp. (a) | 26,876 | 1,779,460 | |||||
DENTSPLY SIRONA, Inc. | 3,911 | 127,811 | |||||
Edwards Lifesciences Corp. (a) | 11,029 | 936,031 | |||||
Johnson & Johnson | 44,951 | 7,254,192 | |||||
ResMed, Inc. | 2,702 | 469,391 | |||||
Stryker Corp. | 6,628 | 2,313,636 | |||||
Teleflex, Inc. | 854 | 190,263 | |||||
The Cooper Cos., Inc. | 3,534 | 330,782 | |||||
Zimmer Biomet Holdings, Inc. | 3,757 | 467,221 | |||||
16,493,365 | |||||||
Miscellaneous Store Retailers — 0.1% | |||||||
Tractor Supply Co. | 1,923 | 489,057 | |||||
Motion Picture and Sound Recording Industries — 0.1% | |||||||
Take-Two Interactive Software, Inc. (a) | 3,066 | 450,487 | |||||
Nonmetallic Mineral Product Manufacturing — 0.1% | |||||||
Corning, Inc. | 14,158 | 456,454 | |||||
Oil and Gas Extraction — 1.1% | |||||||
Coterra Energy, Inc. | 13,167 | 339,445 | |||||
Devon Energy Corp. | 11,952 | 526,605 | |||||
EOG Resources, Inc. | 10,963 | 1,254,825 | |||||
Marathon Oil Corp. | 11,269 | 273,273 | |||||
Occidental Petroleum Corp. | 12,796 | 775,566 | |||||
Pioneer Natural Resources Co. | 4,338 | 1,020,254 | |||||
4,189,968 | |||||||
Other Information Services — 5.2% | |||||||
Dayforce, Inc. (a) | 2,739 | 191,073 | |||||
Meta Platforms, Inc. - Class A | 41,175 | 20,181,103 | |||||
20,372,176 | |||||||
Paper Manufacturing — 0.2% | |||||||
International Paper Co. | 6,441 | 227,754 | |||||
Packaging Corp. of America | 1,661 | 300,957 | |||||
Westrock Co. | 4,726 | 214,041 | |||||
742,752 | |||||||
Petroleum and Coal Products Manufacturing — 4.3% | |||||||
Chevron Corp. | 32,114 | 4,881,649 | |||||
Exxon Mobil Corp. | 75,546 | 7,896,068 | |||||
Hess Corp. | 5,176 | 754,402 | |||||
Marathon Petroleum Corp. | 7,068 | 1,196,118 | |||||
Phillips 66 | 8,157 | 1,162,454 | |||||
Valero Energy Corp. | 6,329 | 895,300 | |||||
16,785,991 | |||||||
Primary Metal Manufacturing — 0.1% | |||||||
Steel Dynamics, Inc. | 2,883 | 385,803 | |||||
Professional, Scientific and Technical Services — 9.1% | |||||||
Alphabet, Inc. - Class A (a) | 110,449 | 15,292,769 | |||||
Alphabet, Inc. - Class C (a) | 93,389 | 13,053,914 | |||||
Amdocs Ltd. (b) | 2,164 | 197,357 | |||||
Charles River Laboratories (a) | 917 | 233,092 | |||||
Exact Sciences Corp. (a) | 3,327 | 191,402 | |||||
F5, Inc. (a) | 1,091 | 204,257 | |||||
Gartner, Inc. (a) | 1,420 | 661,095 | |||||
ICON PLC (a)(b) | 1,500 | 480,930 | |||||
Omnicom Group, Inc. | 3,675 | 324,833 | |||||
Palo Alto Networks, Inc. (a) | 5,707 | 1,772,309 | |||||
Paycom Software, Inc. | 933 | 170,170 | |||||
The Interpublic Group of Cos., Inc. | 7,165 | 224,981 | |||||
ServiceNow, Inc. (a) | 3,784 | 2,918,751 | |||||
35,725,860 | |||||||
Publishing Industries (except Internet) — 18.9% | |||||||
Adobe, Inc. (a) | 8,524 | 4,775,827 | |||||
Akamai Technologies, Inc. (a) | 2,771 | 307,359 | |||||
ANSYS, Inc. (a) | 1,589 | 530,996 | |||||
Autodesk, Inc. (a) | 4,005 | 1,033,971 | |||||
Cadence Design Systems, Inc. (a) | 4,984 | 1,517,030 | |||||
Electronic Arts, Inc. | 5,040 | 702,979 | |||||
Microsoft Corp. | 138,505 | 57,291,208 | |||||
News Corp. - Class A | 6,437 | 173,027 | |||||
News Corp. - Class B | 2,152 | 60,234 | |||||
Okta, Inc. (a) | 2,830 | 303,659 | |||||
PTC, Inc. (a) | 2,121 | 388,164 | |||||
salesforce.com, Inc. (a) | 17,580 | 5,429,056 | |||||
Synopsys, Inc. (a) | 2,816 | 1,615,624 | |||||
Tyler Technologies, Inc. (a) | 724 | 316,489 | |||||
Yandex NV - Class A (a)(b)(e)(f) | 3,809 | 41,899 | |||||
ZoomInfo Technologies, Inc. (a) | 5,578 | 93,487 | |||||
74,581,009 | |||||||
Specialty Trade Contractors — 0.2% | |||||||
Quanta Services, Inc. | 2,678 | 646,764 | |||||
Support Activities for Agriculture and Forestry — 0.2% | |||||||
Corteva, Inc. | 13,301 | 711,870 | |||||
Support Activities for Mining — 1.3% | |||||||
ConocoPhillips | 22,342 | 2,514,369 | |||||
Diamondback Energy, Inc. | 3,325 | 606,879 | |||||
Halliburton Co. | 16,737 | 586,967 | |||||
Schlumberger Ltd. (b) | 26,577 | 1,284,466 | |||||
4,992,681 | |||||||
Support Activities for Transportation — 0.1% | |||||||
JB Hunt Transport Services, Inc. | 1,513 | 312,147 | |||||
Telecommunications — 0.0% (c) | |||||||
Twilio, Inc. - Class A (a) | 3,138 | 186,993 | |||||
Transit and Ground Passenger Transportation — 0.7% | |||||||
Uber Technologies, Inc. (a) | 36,329 | 2,888,156 | |||||
Transportation Equipment Manufacturing — 3.2% | |||||||
Aptiv PLC (a)(b) | 5,040 | 400,630 | |||||
Autoliv, Inc. | 1,390 | 161,282 | |||||
BorgWarner, Inc. | 4,344 | 135,229 | |||||
Lear Corp. | 1,071 | 147,102 | |||||
PACCAR, Inc. | 9,535 | 1,057,336 | |||||
Tesla, Inc. (a) | 51,258 | 10,347,965 | |||||
Westinghouse Air Brake Technologies Corp. | 3,323 | 469,507 | |||||
12,719,051 | |||||||
Truck Transportation — 0.2% | |||||||
Old Dominion Freight Line, Inc. | 1,821 | 805,756 | |||||
Utilities — 0.4% | |||||||
Atmos Energy Corp. | 2,750 | 310,503 | |||||
Avangrid, Inc. | 1,324 | 41,216 | |||||
Constellation Energy Corp. | 5,853 | 985,938 | |||||
First Solar, Inc. (a) | 1,951 | 300,239 | |||||
1,637,896 | |||||||
Wood Product Manufacturing — 0.1% | |||||||
Builders FirstSource, Inc. (a) | 2,262 | 441,497 | |||||
TOTAL COMMON STOCKS (Cost $300,517,949) | 389,297,928 | ||||||
Real Estate Investment Trusts (REITs) — 0.8% | |||||||
Real Estate — 0.7% | |||||||
Alexandria Real Estate Equities, Inc. | 3,177 | 396,267 | |||||
Net Lease Office Properties | 237 | 5,780 | |||||
Prologis, Inc. | 17,034 | 2,270,121 | |||||
2,672,168 | |||||||
Wood Product Manufacturing — 0.1% | |||||||
Weyerhaeuser Co. | 13,141 | 451,788 | |||||
TOTAL REITS (Cost $2,876,878) | 3,123,956 | ||||||
TOTAL INVESTMENTS (Cost $303,394,827) — 99.7% | 392,421,884 | ||||||
Other assets and liabilities, net — 0.3% | 1,337,427 | ||||||
NET ASSETS — 100.0% | $ | 393,759,311 |
Percentages are stated as a percent of net assets. | |||||||||
PLC | Public Limited Company | ||||||||
(a) | Non-income producing security. | ||||||||
(b) | Foreign issued security. | ||||||||
(c) | Amount is less than 0.05%. | ||||||||
(d) | Value determined based on estimated fair value. The value of this security totals $41,899, which represents 0.01% of total net assets. Classified as Level 3 in the fair value hierarchy. | ||||||||
(e) | Security has been deemed illiquid according to the Fund's liquidity guidelines. The value of these securities total $41,899, which represents 0.01% of total 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 following is a summary of the inputs used to value the Fund’s investments carried at fair value as of February 29, 2024: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments - Assets: | ||||||||||||||||
Common Stocks* | $ | 389,256,029 | $ | - | $ | 41,899 | $ | 389,297,928 | ||||||||
Real Estate Investment Trusts (REITs)* | 3,123,956 | - | - | 3,123,956 | ||||||||||||
Total Investments - Assets | $ | 392,379,985 | $ | - | $ | 41,899 | $ | 392,421,884 | ||||||||
* See the Schedule of Investments for industry classifications. |