Leatherback Long/Short Alternative Yield ETF (LBAY) NPORT-P RPAR Risk Parity ETF (Sep 2024 report)

RPAR Risk Parity ETF
Schedule of Investments
September 30, 2024 (Unaudited)
EXCHANGE TRADED FUNDS - 35.4%	Shares		Value
SPDR Gold MiniShares Trust (a)		1,268,264	$	66,114,602
Vanguard FTSE Developed Markets ETF		601,850		31,783,699
Vanguard FTSE Emerging Markets ETF (b)		1,055,966		50,527,973
Vanguard Total Stock Market ETF (b)		282,097		79,878,587
TOTAL EXCHANGE TRADED FUNDS (Cost $200,648,154)				228,304,861
U.S. TREASURY SECURITIES - 34.6%	Par
United States Treasury Inflation Indexed Bonds
2.13%, 02/15/2040	$	3,162,280		3,295,658
2.13%, 02/15/2041		18,696,447		19,543,335
0.75%, 02/15/2042		26,467,678		22,046,451
0.63%, 02/15/2043		27,817,374		22,284,154
1.38%, 02/15/2044		30,968,381		28,219,260
0.75%, 02/15/2045		29,968,438		23,920,414
1.00%, 02/15/2046		26,549,600		22,089,064
0.88%, 02/15/2047		26,309,277		21,092,584
1.00%, 02/15/2048		24,423,657		20,029,225
1.00%, 02/15/2049		16,578,485		13,501,490
0.25%, 02/15/2050		14,240,842		9,431,503
0.13%, 02/15/2051		10,509,610		6,622,386
0.13%, 02/15/2052		9,544,350		5,923,549
1.50%, 02/15/2053		4,448,463		4,012,812
2.13%, 02/15/2054		1,071,000		1,111,586
TOTAL U.S. TREASURY SECURITIES (Cost $321,543,117)				223,123,471
COMMON STOCKS - 15.3%	Shares
Biotechnology - 0.4%
Corteva, Inc.		45,763		2,690,407
Building Materials - 0.1%
Geberit AG		948		619,675
Chemicals - 1.1%
CF Industries Holdings, Inc.		11,120		954,096
Ecolab, Inc.		6,653		1,698,711
FMC Corp.		8,063		531,674
Nutrien Ltd.		33,798		1,625,917
OCI NV		13,193		376,640
PhosAgro PJSC - GDR (c)		52,122		0
Sociedad Quimica y Minera de Chile S.A. - ADR (b)		16,437		685,094
The Mosaic Co.		20,208		541,170
Yara International ASA		16,602		526,622
				6,939,924
Coal - 0.2%
Teck Resources Ltd. - Class B (a)		24,108		1,260,586
Energy - Alternate Sources - 0.7%
Enphase Energy, Inc. (a)		9,872		1,115,733
First Solar, Inc. (a)		7,859		1,960,349
Vestas Wind Systems A/S (a)		77,652		1,718,819
				4,794,901
Food - 0.1%
Salmar ASA		8,062		423,665
Iron & Steel - 0.7%
Fortescue Ltd.		144,805		2,077,483
Mineral Resources Ltd.		8,210		296,404
Vale S.A. - ADR		208,288		2,432,804
				4,806,691
Machinery - Diversified - 1.9%
AGCO Corp.		5,131		502,120
CNH Industrial NV - Class A		81,944		909,578
Deere & Co.		18,925		7,897,970
Husqvarna AB - Class B		35,984		252,044
IDEX Corp.		1,822		390,819
Kubota Corp.		81,574		1,158,255
The Toro Co.		7,052		611,620
Xylem, Inc.		5,789		781,689
				12,504,095
Mining - 4.9%
Antofagasta PLC		48,044		1,297,250
BHP Group Ltd. - ADR (b)		115,676		7,184,636
Boliden AB		11,448		389,069
Cameco Corp.		21,647		1,035,281
CMOC Group Ltd. - Class H		1,203,883		1,182,572
First Quantum Minerals Ltd.		43,229		590,061
Freeport-McMoRan, Inc.		65,561		3,272,805
Glencore PLC		569,774		3,268,757
GMK Norilskiy Nickel PAO - ADR (c)		181,762		0
Ivanhoe Mines Ltd. (a)		67,121		999,648
Jiangxi Copper Co. Ltd. - Class H		205,261		418,053
Lundin Mining Corp.		33,076		346,931
NAC Kazatomprom JSC - GDR		10,896		397,704
Pilbara Minerals Ltd. (a)(b)		135,184		306,674
Rio Tinto PLC - ADR		78,187		5,564,569
South32 Ltd.		194,618		509,012
Southern Copper Corp.		36,605		4,234,100
Sumitomo Metal Mining Co. Ltd.		12,722		381,642
				31,378,764
Oil & Gas - 5.0%
BP PLC - ADR		41,839		1,313,326
Canadian Natural Resources Ltd.		34,224		1,137,718
Cenovus Energy, Inc.		28,409		475,674
Chevron Corp.		29,283		4,312,507
ConocoPhillips		17,469		1,839,136
Coterra Energy, Inc.		11,126		266,468
Devon Energy Corp.		9,329		364,951
Diamondback Energy, Inc.		2,617		451,171
Ecopetrol S.A. - ADR (b)		33,079		295,396
Eni S.p.A. - ADR (b)		24,789		751,355
EOG Resources, Inc.		8,814		1,083,505
EQT Corp.		9,451		346,285
Equinor ASA - ADR (b)		44,585		1,129,338
Exxon Mobil Corp.		70,109		8,218,177
Gazprom PJSC - ADR (c)		523,190		0
Hess Corp.		4,568		620,334
Imperial Oil Ltd.		8,585		604,658
Inpex Corp.		20,463		277,246
LUKOIL PJSC - ADR (c)		31,173		0
Novatek PJSC - GDR (c)		13,358		0
Occidental Petroleum Corp.		13,319		686,461
OMV AG		5,206		222,877
Repsol S.A.		22,257		294,228
Rosneft Oil Co. PJSC - GDR (c)		488,696		0
Shell PLC - ADR		50,572		3,335,223
Suncor Energy, Inc.		18,791		694,361
TotalEnergies SE - ADR (b)		38,437		2,483,799
Tourmaline Oil Corp.		5,519		256,596
Woodside Energy Group Ltd.		28,408		496,643
				31,957,433
Retail - 0.0%(d)
Ferguson Enterprises, Inc.		36		7,098
Water - 0.2%
American Water Works Co., Inc.		4,467		653,254
Veolia Environnement S.A.		15,231		501,796
				1,155,050
TOTAL COMMON STOCKS (Cost $122,432,192)				98,538,289
SHORT-TERM INVESTMENTS - 14.7%
Investments Purchased with Proceeds from Securities Lending - 1.5%
First American Government Obligations Fund - Class X, 4.82% (e)(f)		9,448,058		9,448,058
Money Market Funds - 1.2%
First American Government Obligations Fund - Class X, 4.82% (e)		7,720,279		7,720,279
U.S. Treasury Bills - 12.0%	Par
5.23%, 10/10/2024 (g)	$	78,000,000		77,909,374
TOTAL SHORT-TERM INVESTMENTS (Cost $95,067,718)				95,077,711
TOTAL INVESTMENTS - 100.0% (Cost $739,691,181)				645,044,332
Liabilities in Excess of Other Assets - (0.0)% (d)				(23,274	)
TOTAL NET ASSETS - 100.0%			$	645,021,058
Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

AB - Aktiebolag

AG - Aktiengesellschaft

A/S - Aksjeselskap

ASA - Advanced Subscription Agreement

GDR - Global Depositary Receipt

JSC - Joint Stock Company

NV - Naamloze Vennootschap

PJSC - Public Joint Stock Company

PLC - Public Limited Company

SA - Sociedad Anónima

SE - Societas Europeae

(a)	Non-income producing security.
(b)	All or a portion of this security is on loan as of September 30, 2024. The total market value of these securities was $9,237,869 which represented 1.4% of net assets.
(c)	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 September 30, 2024.
(d)	Represents less than 0.05% of net assets.
(e)	The rate shown represents the 7-day annualized effective yield as of September 30, 2024.
(f)	All or a portion of security has been pledged as collateral. The total value of assets committed as collateral as of September 30, 2024 is $9,448,058 which represented 1.5% of net assets.
(g)	The rate shown is the effective yield as of September 30, 2024.

RPAR Risk Parity ETF
Schedule of Futures Contracts
September 30, 2024 (Unaudited)
Description	Contracts Purchased		Expiration Date	Notional Value		Value / Unrealized Appreciation (Depreciation)
U.S. Treasury 10 Year Notes		964	12/19/2024	$	110,167,125	$	191,307
U.S. Treasury Ultra Bonds		830	12/19/2024		110,467,813		(273,159	)
Total Unrealized Appreciation (Depreciation)						$	(81,852	)

Summary of Fair Value Disclosure as of September 30, 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 September 30, 2024:

RPAR Risk Parity ETF

	Level 1			Level 2		Level 3			Total
Assets:
Investments:
Exchange Traded Funds	$	228,304,861		$	–	$	–		$	228,304,861
U.S. Treasury Securities		–			223,123,471		–			223,123,471
Common Stocks		98,538,289			–		–	(a)		98,538,289
Investments Purchased with Proceeds from Securities Lending		9,448,058			–		–			9,448,058
Money Market Funds		7,720,279			–		–			7,720,279
U.S. Treasury Bills		–			77,909,374		–			77,909,374
Total Investments	$	344,011,487		$	301,032,845	$	–	(a)	$	645,044,332
Other Financial Instruments*:
Futures Contracts	$	191,307		$	–	$	–		$	191,307
Total Other Financial Instruments	$	191,307		$	–	$	–		$	191,307
Liabilities:
Other Financial Instruments*:
Futures Contracts	$	(273,159	)	$	–	$	–		$	(273,159	)
Total Other Financial Instruments	$	(273,159	)	$	–	$	–		$	(273,159	)
* The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of September 30, 2024.
Refer to the Schedule of Investments for further disaggregation of investment categories.

(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 uninvestible.

The following is a reconciliation of the Fund’s Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Common
	Stocks
Balance as of December 31, 2023	$	218,088
Accrued discounts/premiums		—
Realized gain (loss)		—
Change in unrealized appreciation/depreciation		(218,088	)
Purchases		—
Sales		—
Transfer into and/or out of Level 3		—
Balance as of September 30, 2024	$	0
Change in unrealized appreciation/depreciation during the period for Level 3 investments held at September 30, 2024:	$	0