AB Active ETFs (SDFI) NPORT-P UPAR Ultra Risk Parity ETF (Mar 2024 report)

UPAR Ultra Risk Parity ETF
Schedule of Investments
as of March 31, 2024 (Unaudited)
U.S. TREASURY OBLIGATIONS - 47.3%	Par		Value
United States Treasury Inflation Indexed Bonds
2.13%, 02/15/2040	$	841,889	$	854,828
2.13%, 02/15/2041		3,863,104		3,925,944
0.75%, 02/15/2042		5,005,125		4,009,219
0.63%, 02/15/2043		5,674,376		4,374,083
1.38%, 02/15/2044		5,745,942		5,058,474
0.75%, 02/15/2045		5,541,468		4,269,939
1.00%, 02/15/2046		4,938,422		3,969,699
0.88%, 02/15/2047		4,885,772		3,782,657
1.00%, 02/15/2048		4,587,531		3,627,801
1.00%, 02/15/2049		3,080,058		2,423,579
0.25%, 02/15/2050		3,003,848		1,905,972
0.13%, 02/15/2051		1,948,700		1,171,012
0.13%, 02/15/2052		1,777,104		1,051,182
1.50%, 02/15/2053		830,040		727,738
2.13%, 02/15/2054		204,001		207,090
TOTAL U.S. TREASURY OBLIGATIONS (Cost $43,401,254)				41,359,217
EXCHANGE TRADED FUNDS - 25.3%	Shares
SPDR Gold MiniShares Trust(a)		288,538		12,710,098
Vanguard Extended Market ETF		17,240		3,021,655
Vanguard FTSE Developed Markets ETF		42,987		2,156,658
Vanguard FTSE Emerging Markets ETF		101,906		4,256,614
TOTAL EXCHANGE TRADED FUNDS (Cost $19,386,578)				22,145,025
COMMON STOCKS - 21.7%
Biotechnology - 0.6%
Corteva, Inc.		8,486		489,388
Building Materials - 0.1%
Geberit AG		116		68,644
Chemicals - 1.5%
Arcadium Lithium PLC(a)		4,808		21,267
CF Industries Holdings, Inc.		2,378		197,873
Ecolab, Inc.		1,072		247,526
FMC Corp.		1,412		89,944
Nutrien Ltd.		5,952		323,671
OCI N.V.		2,606		71,459
PhosAgro PJSC - GDR(a)(b)		1,126		0
Sociedad Quimica y Minera de Chile S.A. - ADR		3,391		166,702
The Mosaic Co.		3,461		112,344
Yara International ASA		2,849		90,051
				1,320,837
Coal - 0.2%
Teck Resources Ltd. - Class B(a)		4,597		210,614
Distribution & Wholesale - 0.2%
Ferguson PLC		755		165,238
Energy - Alternate Sources - 1.1%
Enphase Energy, Inc.(a)		1,654		200,101
First Solar, Inc.(a)		1,282		216,401
Flat Glass Group Co. Ltd. - Class H		40,700		98,910
Ming Yang Smart Energy Group Ltd. - GDR		17		119
SolarEdge Technologies, Inc.(a)		510		36,200
Vestas Wind Systems A/S(a)		11,090		309,906
Xinyi Solar Holdings Ltd.		122,145		94,577
				956,214
Food - 0.1%
Salmar ASA		1,563		103,070
Iron & Steel - 1.1%
Fortescue Ltd.		28,177		472,436
Mineral Resources Ltd.		1,817		84,010
Vale S.A. - ADR		36,723		447,653
				1,004,099
Machinery - Diversified - 2.6%
AGCO Corp.		831		102,230
CNH Industrial N.V. - Class A		15,590		202,046
Deere & Co.		3,503		1,438,822
Husqvarna AB - Class B		7,136		61,158
IDEX Corp.		372		90,775
Kubota Corp.		13,794		215,690
The Toro Co.		1,182		108,307
Xylem, Inc.		926		119,676
				2,338,704
Mining - 6.2%
Antofagasta PLC		7,759		199,853
BHP Group Ltd. - ADR		22,049		1,272,007
Boliden AB		2,310		64,217
Cameco Corp.		3,471		150,408
CMOC Group Ltd. - Class H		203,824		173,186
First Quantum Minerals Ltd.		5,849		62,931
Freeport-McMoRan, Inc.		12,828		603,173
Glencore PLC		108,815		598,365
Ivanhoe Mines Ltd. - Class A(a)		10,642		127,083
Jiangxi Copper Co. Ltd. - Class H		41,939		71,484
Lundin Mining Corp.		6,482		66,389
MMC Norilsk Nickel PJSC - ADR(a)(b)		3,990		0
NAC Kazatomprom JSC - GDR		2,404		97,242
Pilbara Minerals Ltd.		27,231		68,042
Rio Tinto PLC - ADR		15,079		961,135
South32 Ltd.		40,003		78,294
Southern Copper Corp.		6,849		729,555
Sumitomo Metal Mining Co. Ltd.		2,541		75,267
				5,398,631
Oil & Gas - 7.8%
Aker BP ASA		1,899		47,227
BP PLC - ADR		8,877		334,485
Canadian Natural Resources Ltd.		3,050		232,889
Cenovus Energy, Inc.		5,699		114,043
Chevron Corp.		5,805		915,681
ConocoPhillips		3,436		437,334
Coterra Energy, Inc.		2,083		58,074
Devon Energy Corp.		1,841		92,381
Diamondback Energy, Inc.		559		110,777
Ecopetrol S.A. - ADR		5,751		68,092
Eni S.p.A. - ADR		4,892		155,174
EOG Resources, Inc.		1,717		219,501
EQT Corp.		1,155		42,816
Equinor ASA - ADR		8,859		239,459
Exxon Mobil Corp.		11,879		1,380,816
Gazprom PJSC - ADR(a)(b)		11,925		0
Hess Corp.		889		135,697
Imperial Oil Ltd.		1,806		124,688
Inpex Corp.		3,993		60,669
LUKOIL PJSC - ADR(a)(b)		818		0
Marathon Oil Corp.		1,816		51,465
Novatek PJSC - GDR(a)(b)		329		0
Occidental Petroleum Corp.		2,616		170,014
Pioneer Natural Resources Co.		672		176,400
Repsol S.A.		3,596		59,964
Rosneft Oil Co. PJSC - GDR(a)(b)		10,479		0
Shell PLC - ADR		10,011		671,138
Suncor Energy, Inc.		3,668		135,498
TotalEnergies SE - ADR		7,286		501,495
Tourmaline Oil Corp.		973		45,535
Woodside Energy Group Ltd.		5,671		112,843
				6,694,155
Water - 0.2%
American Water Works Co., Inc.		830		101,434
Veolia Environment S.A.		2,696		87,729
				189,163
TOTAL COMMON STOCKS (Cost $19,391,291)				18,938,757
SHORT-TERM INVESTMENTS - 2.8%
Money Market Funds - 2.8%
First American Government Obligations Fund - Class X, 5.29%(c)		2,450,240		2,450,240
TOTAL SHORT-TERM INVESTMENTS (Cost $2,450,240)				2,450,240
TOTAL INVESTMENTS - 97.1% (Cost $84,629,363)			$	84,893,239
Other Assets in Excess of Liabilities - 2.9%				2,517,328
TOTAL NET ASSETS - 100.0%			$	87,410,567
Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

AG - Aktiengesellschaft

ASA - Advanced Subscription Agreement

GDR - Global Depositary Receipt

PJSC - Public Joint Stock Company

PLC - Public Limited Company

(a)	Non-income producing security.
(b)	Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of March 31, 2024.
(c)	The rate shown represents the 7-day effective yield as of March 31, 2024.

UPAR Ultra Risk Parity ETF
Schedule of Open Futures Contracts
as of March 31, 2024 (Unaudited)
Description	Contracts Purchased		Expiration Date	Notional		Value / Unrealized Appreciation (Depreciation)
MSCI EAFE Index		33	06/21/2024	$	3,889,215	$	20,072
MSCI Emerging Markets Index		89	06/21/2024		4,668,050		(42,877	)
S&P 500 Index		454	06/21/2024		12,050,295		274,231
U.S. Treasury 10 Year Notes		185	06/18/2024		20,497,422		114,717
U.S. Treasury Ultra Bonds		160	06/18/2024		20,640,000		366,324
						$	732,467
							–
Total Unrealized Appreciation (Depreciation)						$	732,467

Summary of Fair Value Exposure at March 31, 2024 (Unaudited) The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: • Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. • Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data. • Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The following is a summary of the inputs used to value the Fund's investments as of March 31, 2024: UPAR Ultra Risk Parity ETF
	Level 1			Level 2		Level 3			Total
Assets:
U.S. Treasury Obligations	$	–		$	41,359,217	$	–		$	41,359,217
Exchange Traded Funds		22,145,025			–		–			22,145,025
Common Stocks		18,938,757			–		0	(a)		18,938,757
Money Market Funds		2,450,240			–		–			2,450,240
Total Assets	$	43,534,022		$	41,359,217	$	0	(a)	$	84,893,239
Other Financial Instruments(b):
Assets
Futures	$	775,344			–		–		$	775,344
Total Assets	$	775,344			–		–		$	775,344
Liabilities
Futures	$	(42,877	)		–		–		$	(42,877	)
Total Liabilities	$	(42,877	)		–		–		$	(42,877	)
Refer to the Schedule of Investments for industry classifications.

	Common Stock
Balance as of December 31, 2023	$	35,389
Accrued discounts/premiums		-
Realized gain (loss)		-
Change in unrealized appreciation/depreciation		13,948
Purchases		-
Sales		-
Transfer into and/or out of Level 3		-
Corporate actions		(49,337	)
Balance as of March 31, 2024	$	0
Change in unrealized appreciate/depreciation during the period for Level 3 investments held at March 31, 2024:	$	13,948

(a)	The Level 3 securities are fair valued at $0 due to a halt in trading of Russian securities as a result of the ongoing Ukrainian/ Russian conflict and the Russian markets being currently uninvestable.
(b)	Other Financial Instruments are derivative instruments not reflected on the Schedule of Investments, such as futures contracts, which are presented at the unrealized appreciation/depreciation on the investment.