Impact Shares
NAACP Minority Empowerment ETF
Schedule of Investments
March 31, 2020 (Unaudited)
Description | Shares | Fair Value | ||||||
COMMON STOCK†† — 96.2% |
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Communication Services— 13.0% |
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Alphabet, Cl A* | 76 | $ | 88,308 | |||||
Alphabet, Cl C* | 76 | 88,374 | ||||||
AT&T | 2,066 | 60,224 | ||||||
Comcast, Cl A | 1,239 | 42,597 | ||||||
Facebook, Cl A* | 260 | 43,368 | ||||||
Verizon Communications | 1,187 | 63,777 | ||||||
Walt Disney | 515 | 49,749 | ||||||
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436,397 | ||||||||
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Consumer Discretionary— 12.9% |
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Amazon.com* | 110 | 214,469 | ||||||
Aptiv PLC | 55 | 2,708 | ||||||
Autoliv | 25 | 1,150 | ||||||
Best Buy | 62 | 3,534 | ||||||
Carnival | 76 | 1,001 | ||||||
eBay | 221 | 6,644 | ||||||
Ford Motor | 1,118 | 5,400 | ||||||
Gap | 60 | 423 | ||||||
General Motors | 380 | 7,896 | ||||||
Hanesbrands | 105 | 826 | ||||||
Hasbro | 36 | 2,576 | ||||||
Hilton Worldwide Holdings | 81 | 5,528 | ||||||
Home Depot | 296 | 55,266 | ||||||
Marriott International, Cl A | 80 | 5,985 | ||||||
McDonald’s | 199 | 32,905 | ||||||
Nordstrom | 31 | 476 | ||||||
Ross Stores | 98 | 8,523 | ||||||
Royal Caribbean Cruises | 32 | 1,029 | ||||||
Starbucks | 610 | 40,101 | ||||||
Target | 149 | 13,852 | ||||||
TJX | 330 | 15,777 | ||||||
Whirlpool | 16 | 1,373 | ||||||
Yum! Brands | 83 | 5,688 | ||||||
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433,130 | ||||||||
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Consumer Staples— 5.4% |
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Archer-Daniels-Midland | 163 | 5,734 | ||||||
Bunge | 28 | 1,149 | ||||||
Campbell Soup | 48 | 2,216 | ||||||
Church & Dwight | 68 | 4,364 | ||||||
Clorox | 34 | 5,891 | ||||||
Colgate-Palmolive | 233 | 15,462 | ||||||
Estee Lauder, Cl A | 60 | 9,560 | ||||||
General Mills | 171 | 9,024 | ||||||
Hormel Foods | 77 | 3,591 | ||||||
Kellogg | 67 | 4,019 | ||||||
Kimberly-Clark | 92 | 11,764 | ||||||
Kroger | 229 | 6,897 | ||||||
McCormick | 35 | 4,943 | ||||||
Procter & Gamble | 698 | 76,780 | ||||||
Sysco | 143 | 6,525 | ||||||
Tyson Foods, Cl A | 83 | 4,803 | ||||||
Walgreens Boots Alliance | 213 | 9,745 | ||||||
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182,467 | ||||||||
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Energy— 0.2% |
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Kinder Morgan | 529 | 7,364 | ||||||
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Financials— 9.2% | ||||||||
Aflac | 208 | 7,122 | ||||||
Allstate | 87 | 7,980 | ||||||
Bank of America | 2,305 | 48,935 | ||||||
Bank of New York Mellon | 243 | 8,184 | ||||||
Citigroup | 608 | 25,609 | ||||||
Discover Financial Services | 95 | 3,389 | ||||||
Equitable Holdings | 88 | 1,271 | ||||||
Goldman Sachs Group | 84 | 12,986 | ||||||
Hartford Financial Services Group | 103 | 3,630 |
Description | Shares | Fair Value | ||||||
Huntington Bancshares | 303 | $ | 2,488 | |||||
JPMorgan Chase | 894 | 80,487 | ||||||
KeyCorp | 287 | 2,976 | ||||||
Moody’s | 43 | 9,094 | ||||||
Morgan Stanley | 332 | 11,288 | ||||||
Prudential Financial | 113 | 5,892 | ||||||
S&P Global | 102 | 24,995 | ||||||
State Street | 100 | 5,327 | ||||||
US Bancorp | 427 | 14,710 | ||||||
Wells Fargo | 1,124 | 32,259 | ||||||
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308,622 | ||||||||
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Health Care— 14.7% |
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Abbott Laboratories | 499 | 39,376 | ||||||
AbbVie | 420 | 32,000 | ||||||
Agilent Technologies | 83 | 5,945 | ||||||
Baxter International | 135 | 10,961 | ||||||
Becton Dickinson | 74 | 17,003 | ||||||
Biogen* | 52 | 16,451 | ||||||
Bristol-Myers Squibb | 630 | 35,116 | ||||||
Cardinal Health | 81 | 3,883 | ||||||
CVS Caremark | 376 | 22,308 | ||||||
Eli Lilly | 224 | 31,073 | ||||||
Gilead Sciences | 359 | 26,839 | ||||||
Illumina* | 40 | 10,925 | ||||||
Jazz Pharmaceuticals* | 12 | 1,197 | ||||||
Johnson & Johnson | 735 | 96,381 | ||||||
Merck | 720 | 55,397 | ||||||
Mylan* | 96 | 1,431 | ||||||
Perrigo | 30 | 1,443 | ||||||
Pfizer | 1,513 | 49,384 | ||||||
ResMed | 40 | 5,892 | ||||||
Teleflex | 6 | 1,757 | ||||||
Thermo Fisher Scientific | 112 | 31,763 | ||||||
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496,525 | ||||||||
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Industrials— 6.2% |
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3M | 155 | 21,159 | ||||||
AECOM* | 43 | 1,284 | ||||||
AGCO | 19 | 898 | ||||||
Cintas | 22 | 3,811 | ||||||
Cummins | 46 | 6,225 | ||||||
Deere | 88 | 12,158 | ||||||
Delta Air Lines | 163 | 4,650 | ||||||
Eaton | 81 | 6,293 | ||||||
Emerson Electric | 169 | 8,053 | ||||||
FedEx | 63 | 7,639 | ||||||
General Electric | 2,301 | 18,270 | ||||||
Honeywell International | 197 | 26,357 | ||||||
IHS Markit | 76 | 4,560 | ||||||
Illinois Tool Works | 82 | 11,654 | ||||||
Ingersoll Rand* | 42 | 1,042 | ||||||
Johnson Controls International | 152 | 4,098 | ||||||
ManpowerGroup | 16 | 848 | ||||||
Masco | 78 | 2,697 | ||||||
Nielsen Holdings PLC | 71 | 890 | ||||||
Oshkosh | 39 | 2,509 | ||||||
Owens Corning | 30 | 1,164 | ||||||
Pentair | 33 | 982 | ||||||
Rockwell Automation | 33 | 4,980 | ||||||
Roper Technologies | 28 | 8,730 | ||||||
Stanley Black & Decker | 42 | 4,200 | ||||||
Trane Technologies | 48 | 3,964 | ||||||
United Parcel Service, Cl B | 200 | 18,684 | ||||||
Verisk Analytics, Cl A | 43 | 5,993 | ||||||
Waste Management | 105 | 9,719 | ||||||
WW Grainger | 12 | 2,982 | ||||||
Xylem | 49 | 3,191 | ||||||
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209,684 | ||||||||
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Information Technology— 27.8% |
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Accenture, Cl A | 126 | 20,571 | ||||||
Advanced Micro Devices* | 275 | 12,507 |
Impact Shares
NAACP Minority Empowerment ETF
Schedule of Investments
March 31, 2020 (Unaudited)
Description | Shares | Fair Value | ||||||
Apple | 713 | $ | 181,309 | |||||
Cisco Systems | 1,201 | 47,211 | ||||||
Dell Technologies, Cl C* | 44 | 1,740 | ||||||
DXC Technology | 77 | 1,005 | ||||||
Enphase Energy* | 1,271 | 41,041 | ||||||
First Solar* | 1,115 | 40,207 | ||||||
Hewlett Packard Enterprise | 375 | 3,641 | ||||||
HP | 391 | 6,788 | ||||||
Intel | 1,150 | 62,238 | ||||||
International Business Machines | 243 | 26,956 | ||||||
Mastercard, Cl A | 234 | 56,525 | ||||||
Microsoft | 1,378 | 217,324 | ||||||
Motorola Solutions | 45 | 5,982 | ||||||
NortonLifeLock | 169 | 3,162 | ||||||
Oracle | 597 | 28,853 | ||||||
QUALCOMM | 313 | 21,174 | ||||||
salesforce.com* | 225 | 32,396 | ||||||
SolarEdge Technologies* | 509 | 41,677 | ||||||
Texas Instruments | 35 | 3,497 | ||||||
Visa, Cl A | 456 | 73,470 | ||||||
Workday, Cl A* | 41 | 5,339 | ||||||
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934,613 | ||||||||
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Materials— 2.5% |
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Air Products & Chemicals | 62 | 12,376 | ||||||
Amcor | 330 | 2,680 | ||||||
Avery Dennison | 23 | 2,343 | ||||||
Ball | 87 | 5,625 | ||||||
DuPont de Nemours | 217 | 7,399 | ||||||
Eastman Chemical | 41 | 1,910 | ||||||
Ecolab | 70 | 10,908 | ||||||
FMC | 36 | 2,941 | ||||||
Freeport-McMoRan, Cl B | 419 | 2,828 | ||||||
International Flavors & Fragrances | 28 | 2,858 | ||||||
International Paper | 115 | 3,580 | ||||||
Mosaic | 98 | 1,060 | ||||||
Newmont Goldcorp | 280 | 12,679 | ||||||
PPG Industries | 68 | 5,685 | ||||||
Sonoco Products | 185 | 8,575 | ||||||
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83,447 | ||||||||
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Real Estate— 2.3% |
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AvalonBay Communities‡ | 38 | 5,593 | ||||||
CBRE Group, Cl A* | 94 | 3,545 | ||||||
Equinix‡ | 22 | 13,741 | ||||||
Equity Residential‡ | 96 | 5,924 | ||||||
Hannon Armstrong Sustainable Infrastructure Capital‡ | 687 | 14,022 | ||||||
Healthpeak Properties‡ | 129 | 3,077 | ||||||
Iron Mountain‡ | 83 | 1,975 | ||||||
Jones Lang LaSalle | 14 | 1,413 | ||||||
Kilroy Realty‡ | 28 | 1,784 | ||||||
Prologis‡ | 171 | 13,743 | ||||||
SL Green Realty‡ | 22 | 948 | ||||||
Ventas‡ | 103 | 2,760 | ||||||
Welltower‡ | 107 | 4,898 | ||||||
Weyerhaeuser‡ | 207 | 3,509 | ||||||
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76,932 | ||||||||
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Utilities— 2.0% |
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American Water Works | 50 | 5,978 | ||||||
Atlantica Yield | 1,036 | 23,103 | ||||||
TerraForm Power, Cl A | 2,390 | 37,690 | ||||||
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66,771 | ||||||||
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Total Common Stock |
| 3,235,952 | ||||||
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Description | Shares | Fair Value | ||||||
SHORT-TERM INVESTMENT — 3.8% |
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Invesco Government & Agency, | 126,160 | $ | 126,160 | |||||
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Total Short-Term Investment | 126,160 | |||||||
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Total Investments - 100.0% | $ | 3,362,112 | ||||||
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Percentages are based on Net Assets of $3,363,028.
†† | More narrow industries are utilized for compliance purposes whereas broad sectors are utilized for reporting purposes. |
* | Non-income producing security. |
‡ | Real Estate Investment Trust |
(A) | Rate shown represents the 7-day effective yield as of March 31, 2020. |
Cl — Class
PLC — Public Limited Company
As of March 31, 2020, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. generally accepted accounting principles.
For the period ended March 31, 2020, there were no transfers in or out of Level 3.
For more information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.
IMP-QH-001-0400