RiverNorth Enhanced Pre-Merger SPAC ETF | ||||||||
Schedule of Investments | ||||||||
as of March 31, 2024 (Unaudited) | ||||||||
SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) - 82.5% | Shares | Value | ||||||
99 Acquisition Group, Inc. - Class A(a) | 4,334 | $ | 44,662 | |||||
Acri Capital Acquisition Corp.(a) | 9,121 | 102,246 | ||||||
Ai Transportation Acquisition Corp.(a)(b) | 19,934 | 204,922 | ||||||
Aimei Health Technology Co. Ltd.(a)(b) | 14,391 | 147,364 | ||||||
Ares Acquisition Corp. II(a)(b) | 18,471 | 195,238 | ||||||
Bayview Acquisition Corp. - Class A(a)(b) | 7,251 | 73,163 | ||||||
Black Hawk Acquisition Corp.(a)(b) | 19,756 | 200,622 | ||||||
Bukit Jalil Global Acquisition 1 Ltd.(a)(b) | 19,934 | 209,307 | ||||||
Colombier Acquisition Corp. II - Class A(a)(b) | 12,813 | 131,590 | ||||||
ESH Acquisition Corp. - Class A(a) | 18,218 | 188,921 | ||||||
Four Leaf Acquisition Corp. - Class A(a) | 19,934 | 214,690 | ||||||
Global Lights Acquisition Corp.(a)(b) | 20,802 | 211,764 | ||||||
Golden Star Acquisition Corp.(a)(b) | 22,652 | 241,018 | ||||||
IB Acquisition Corp.(a) | 4,998 | 50,005 | ||||||
Inflection Point Acquisition Corp. II - Class A(a)(b) | 20,260 | 212,122 | ||||||
Iron Horse Acquisitions Corp.(a) | 12,150 | 121,318 | ||||||
JVSPAC Acquisition Corp.(a)(b) | 14,218 | 146,303 | ||||||
Keen Vision Acquisition Corp.(a)(b) | 10,401 | 108,794 | ||||||
Legato Merger Corp. III(a)(b) | 20,052 | 203,227 | ||||||
Newbury Street Acquisition Corp.(a) | 18,238 | 196,788 | ||||||
Oak Woods Acquisition Corp. - Class A(a)(b) | 18,262 | 195,769 | ||||||
Quetta Acquisition Corp.(a) | 19,934 | 203,127 | ||||||
Spark I Acquisition Corp.(a)(b) | 19,934 | 204,523 | ||||||
TMT Acquisition Corp. - Class A(a)(b) | 18,272 | 195,419 | ||||||
Trailblazer Merger Corp. I(a) | 19,088 | 202,905 | ||||||
TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) (Cost $4,002,864) | 4,205,807 | |||||||
RIGHTS - 0.9% | Contracts | Value | ||||||
Holding Companies-Diversified - 0.9% | ||||||||
99 Acquisition Group, Inc.(a) | 21,667 | 3,899 | ||||||
Ai Transportation Acquisition Corp.(a)(b) | 19,934 | 3,586 | ||||||
Aimei Health Technology Co. Ltd.(a)(b) | 14,391 | 2,817 | ||||||
Bayview Acquisition Corp. (a)(b) | 7,251 | 834 | ||||||
Bukit Jalil Global Acquisition 1 Ltd.(a)(b) | 19,934 | 4,684 | ||||||
Distoken Acquisition Corp.(a)(b) | 8,873 | 847 | ||||||
ESH Acquisition Corp.(a) | 19,934 | 1,615 | ||||||
Global Lights Acquisition Corp.(a)(b) | 20,802 | 5,814 | ||||||
Golden Star Acquisition Corp.(a)(b) | 24,341 | 6,015 | ||||||
Horizon Space Acquisition I Corp.(a)(b) | 3,101 | 287 | ||||||
Iron Horse Acquisitions Corp.(a) | 12,150 | 2,552 | ||||||
Mars Acquisition Corp.(a)(b) | 9,397 | 1,945 | ||||||
Oak Woods Acquisition Corp.(a)(b) | 19,934 | 3,985 | ||||||
Quetta Acquisition Corp.(a) | 1,994 | 2,253 | ||||||
TMT Acquisition Corp.(a)(b) | 19,934 | 4,075 | ||||||
Trailblazer Merger Corp. I(a) | 19,088 | 1,424 | ||||||
Total Holding Companies-Diversified | 46,632 | |||||||
TOTAL RIGHTS (Cost $42,701) | 46,632 | |||||||
WARRANTS - 0.4% | Contracts | Value | ||||||
99 Acquisition Group, Inc., Expires 08/25/2028, Exercise Price $11.50(a) | 21,667 | 727 | ||||||
Alchemy Investments Acquisition Corp. 1, Expires 11/30/2027, Exercise Price $11.50(a)(b) | 2,758 | 524 | ||||||
Ares Acquisition Corp. II, Expires 06/12/2028, Exercise Price $11.50(a)(b) | 10,085 | 1,866 | ||||||
Bite Acquisition Corp., Expires 02/12/2031, Exercise Price $11.50(a) | 2,010 | 141 | ||||||
Bukit Jalil Global Acquisition 1 Ltd., Expires 12/30/2029, Exercise Price $11.50(a)(b) | 9,967 | 424 | ||||||
Churchill Capital Corp. VII, Expires 02/29/2028, Exercise Price $11.50(a) | 6,398 | 2,046 | ||||||
Colombier Acquisition Corp. II, Expires 11/24/2028, Exercise Price $11.50(a)(b) | 4,271 | 1,965 | ||||||
Distoken Acquisition Corp., Expires 11/30/2027, Exercise Price $11.50(a)(b) | 8,873 | 177 | ||||||
Four Leaf Acquisition Corp., Expires 03/15/2028, Exercise Price $11.50(a) | 19,934 | 856 | ||||||
Goal Acquisitions Corp., Expires 02/11/2026, Exercise Price $11.50(a) | 2,463 | 30 | ||||||
Gores Holdings IX, Inc., Expires 01/14/2029, Exercise Price $11.50(a) | 4,396 | 1,231 | ||||||
Haymaker Acquisition Corp. 4, Expires 05/31/2028, Exercise Price $11.50(a)(b) | 2,397 | 479 | ||||||
Hennessy Capital Investment Corp. VI, Expires 06/10/2026, Exercise Price $11.50(a) | 3,542 | 371 | ||||||
Horizon Space Acquisition I Corp., Expires 03/02/2029, Exercise Price $11.50(a)(b) | 3,101 | 83 | ||||||
Inflection Point Acquisition Corp. II, Expires 08/31/2029, Exercise Price $11.50(a)(b) | 10,130 | 1,520 | ||||||
Iron Horse Acquisitions Corp., Expires 02/16/2029, Exercise Price $11.50(a) | 12,150 | 431 | ||||||
Israel Acquisitions Corp., Expires 02/28/2028, Exercise Price $11.50(a)(b) | 4,661 | 361 | ||||||
Jaws Mustang Acquisition Corp., Expires 01/30/2026, Exercise Price $11.50(a)(b) | 1,780 | 383 | ||||||
Keen Vision Acquisition Corp., Expires 03/15/2028, Exercise Price $11.50(a)(b) | 10,401 | 561 | ||||||
New Horizon Aircraft Ltd., Expires 01/12/2029, Exercise Price $11.50(a)(b) | 9,525 | 477 | ||||||
NKGen Biotech, Inc., Expires 05/31/2028, Exercise Price $11.50(a) | 1,520 | 213 | ||||||
Oak Woods Acquisition Corp., Expires 03/23/2028, Exercise Price $11.50(a)(b) | 19,934 | 399 | ||||||
Screaming Eagle Acquisition Corp., Expires 01/15/2027, Exercise Price $11.50(a)(b) | 5,130 | 2,423 | ||||||
Slam Corp., Expires 02/23/2026, Exercise Price $11.50(a)(b) | 3,115 | 561 | ||||||
Spark I Acquisition Corp., Expires 10/01/2030, Exercise Price $11.50(a)(b) | 9,967 | 1,804 | ||||||
Twelve Seas Investment Co. II, Expires 03/02/2028, Exercise Price $11.50(a) | 3,043 | 286 | ||||||
TOTAL WARRANTS (Cost $20,486) | 20,339 | |||||||
SHORT-TERM INVESTMENTS - 15.6% | ||||||||
Money Market Funds - 15.6% | Shares | |||||||
First American Treasury Obligations Fund - Class X, 5.22%(c) | 797,939 | 797,939 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $797,939) | 797,939 | |||||||
TOTAL INVESTMENTS - 99.4% (Cost $4,863,990) | $ | 5,070,717 | ||||||
Other Assets in Excess of Liabilities - 0.6% | 28,309 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 5,099,026 | ||||||
Percentages are stated as a percent of net assets. |
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | The rate shown represents the 7-day effective yield as of March 31, 2024. |
Counterparty | Reference Entity | Pay/Receive Total Return on Reference Entity | Financing Rate | Pay/Receive Frequency | Termination Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||
Clear Street Derivatives LLC | Custom basket of U.S. stocks* | Receive | Overnight Bank Funding Rate + 0.85% | Monthly | August 23, 2024 | $ | 102,571 | $ | - |
* The components of the basket as of March 31, 2024 are shown below:
Name | Quantity | Value | Weight | |||||||||
Ares Acquisition Corporation II | 1,960 | $ | 20,717 | 20.1 | % | |||||||
ESH Acquisition Corp. – Class A | 1,980 | 20,493 | 19.8 | % | ||||||||
Golden Star Acquisition Corporation | 1,950 | 20,748 | 20.1 | % | ||||||||
Oak Woods Acquisition Corporation – Class A | 1,930 | 20,748 | 20.1 | % | ||||||||
TMT Acquisition Corp. | 1,920 | 20,525 | 19.9 | % | ||||||||
$ | 103,231 | 100.0 | % |
RiverNorth Enhanced Pre-Merger SPAC ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Special Purpose Acquisition Companies (SPACs) | $ | 3,179,525 | $ | 1,026,282 | $ | – | $ | 4,205,807 | ||||||||
Rights | 28,283 | 18,349 | – | 46,632 | ||||||||||||
Warrants | 17,120 | 3,219 | – | 20,339 | ||||||||||||
Money Market Funds | 797,939 | – | – | 797,939 | ||||||||||||
Total Assets | $ | 4,022,867 | $ | 1,047,850 | $ | – | $ | 5,070,717 | ||||||||
Other Financial Instruments*: | ||||||||||||||||
Liabilities | ||||||||||||||||
Total Return Swaps | $ | – | $ | – | $ | – | $ | – | ||||||||
Total Liabilities | $ | – | $ | – | $ | – | $ | – | ||||||||
* The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of March 31, 2024. | ||||||||||||||||
Refer to the Schedule of Investments for industry classifications. | ||||||||||||||||