SoFi Web 3 ETF | ||||||
SCHEDULE OF INVESTMENTS at November 30, 2022 (Unaudited) | ||||||
Shares | Value | |||||
Common Stocks - 99.3% | ||||||
Biotechnology - 1.9% | ||||||
Exscientia PLC - ADR (1) | 2,438 | $ | 13,896 | |||
Commercial Services - 7.8% | ||||||
Bakkt Holdings, Inc. - Class A (1)(2) | 9,595 | 16,983 | ||||
Block, Inc. - Class A (1) | 172 | 11,656 | ||||
Marathon Digital Holdings, Inc. (1) | 2,145 | 13,556 | ||||
PayPal Holdings, Inc. (1) | 43 | 3,372 | ||||
Riot Blockchain, Inc. (1)(2) | 2,226 | 10,351 | ||||
55,918 | ||||||
Computers - 12.7% | ||||||
Apple, Inc. | 134 | 19,836 | ||||
TaskUS, Inc. - Class A (1) | 377 | 7,416 | ||||
TELUS International CDA, Inc. (1) | 1,044 | 21,755 | ||||
Vuzix Corp. (1) | 10,160 | 42,367 | ||||
91,374 | ||||||
Diversified Financial Services - 9.0% | ||||||
Argo Blockchain PLC (1) | 61,927 | 4,056 | ||||
Coinbase Global, Inc. - Class A (1)(2) | 332 | 15,183 | ||||
Galaxy Digital Holdings Ltd. (1)(2) | 1,760 | 5,595 | ||||
SBI Holdings, Inc. | 1,970 | 36,961 | ||||
Upstart Holdings, Inc. (1) | 137 | 2,678 | ||||
64,473 | ||||||
Electronics - 4.0% | ||||||
Kopin Corp. (1) | 17,503 | 28,355 | ||||
Entertainment - 8.6% | ||||||
AMC Entertainment Holdings, Inc. (1)(2) | 2,233 | 16,144 | ||||
DraftKings, Inc. - Class A (1) | 2,968 | 45,470 | ||||
61,614 | ||||||
Internet - 22.0% | ||||||
1stdibs.com, Inc. (1) | 5,853 | 35,235 | ||||
Alphabet, Inc. - Class A (1) | 384 | 38,780 | ||||
Amazon.com, Inc. (1) | 236 | 22,783 | ||||
Meta Platforms, Inc. - Class A (1) | 208 | 24,565 | ||||
Overstock.com, Inc. (1) | 311 | 8,279 | ||||
Robinhood Markets, Inc. - Class A (1) | 2,523 | 24,196 | ||||
Snap, Inc. - Class A (1) | 404 | 4,165 | ||||
158,003 | ||||||
Real Estate - 1.9% | ||||||
eXp World Holdings, Inc. (2) | 1,054 | 13,776 | ||||
Retail - 4.8% | ||||||
GameStop Corp. (1) | 1,313 | 34,414 | ||||
Semiconductors - 12.7% | ||||||
CEVA, Inc. (1) | 190 | 5,162 | ||||
Himax Technologies, Inc. - ADR | 3,426 | 25,250 | ||||
Intel Corp. | 430 | 12,930 | ||||
NVIDIA Corp. | 284 | 48,061 | ||||
91,403 | ||||||
Software - 10.8% | ||||||
HIVE Blockchain Technologies Ltd. (1) | 6,315 | 13,229 | ||||
ROBLOX Corp. - Class A (1) | 581 | 18,458 | ||||
Unity Software, Inc. (1) | 454 | 17,938 | ||||
Veritone, Inc. (1) | 3,789 | 25,538 | ||||
WiMi Hologram Cloud, Inc. - Class A - ADR (1) | 2,812 | 2,136 | ||||
77,299 | ||||||
Toys, Games & Hobbies - 3.1% | ||||||
Funko, Inc. - Class A (1) | 1,717 | 16,312 | ||||
Vinco Ventures, Inc. (1) | 8,253 | 5,534 | ||||
21,846 | ||||||
Total Common Stocks | ||||||
(Cost $808,833) | 712,371 | |||||
Preferred Stocks - 0.3% | ||||||
Commercial Services - 0.3% | ||||||
AMC Entertainment Holdings, Inc. | ||||||
12/31/2049 (2)(4) | 2,209 | 2,146 | ||||
Total Preferred Stocks | ||||||
(Cost $5,915) | 2,146 | |||||
Short-Term Investments - 0.3% | ||||||
Money Market Funds - 0.3% | ||||||
First American Government Obligations Fund, Class X, 3.668% (3) | 2,003 | 2,003 | ||||
Total Money Market Funds | ||||||
(Cost $2,003) | 2,003 | |||||
Investments Purchased with Collateral from Securities Lending - 9.5% | ||||||
Mount Vernon Liquid Assets Portfolio, LLC, 4.070% (3) | 68,138 | 68,138 | ||||
Total Investments Purchased with Collateral from Securities Lending | ||||||
(Cost $68,138) | 68,138 | |||||
Total Investments in Securities - 109.4% | ||||||
(Cost $884,889) | 784,658 | |||||
Liabilities in Excess of Other Assets - (9.4)% | (67,473) | |||||
Total Net Assets - 100.0% | $ | 717,185 | ||||
ADR | American Depositary Receipt | |||||
(1) | Non-income producing security. | |||||
(2) | This security or a portion of this security was out on loan as of November 30, 2022. Total loaned had a value of $63,251 or 8.8% of net assets as of November 30, 2022. The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. | |||||
(3) | The rate shown is the annualized seven-day effective yield as of November 30, 2022. | |||||
(4) | Zero coupon security. |
Summary of Fair Value Exposure at November 30, 2022 (Unaudited) | |||||
The SoFi Web 3 ETF (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 November 30, 2022: | |||||
Investments in Securities | Investments Measured at Net Asset Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Common Stocks (1) | $ | – | $ | 712,371 | $ | – | $ | – | $ | 712,371 | |||||||||
Preferred Stocks (1) | – | 2,146 | – | – | 2,146 | ||||||||||||||
Short-Term Investments | – | 2,003 | – | – | 2,003 | ||||||||||||||
Investments Purchased With Collateral From Securities Lending (2) | 68,138 | – | – | – | 68,138 | ||||||||||||||
Total Investments in Securities | $ | 68,138 | $ | 716,520 | $ | – | $ | – | $ | 784,658 | |||||||||
(1) See Schedule of Investment for the industry breakout. | |||||||||||||||||||
(2) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments. |