SoFi Be Your Own Boss ETF |
Schedule of Investments |
as of November 30, 2023 (Unaudited) |
COMMON STOCKS - 100.0% | Shares | Value | |||||
Advertising Services - 0.9% | |||||||
The Trade Desk, Inc. - Class A(a)(b) | 982 | $ | 69,192 | ||||
Applications Software - 5.2% | |||||||
Five9, Inc.(a) | 912 | 69,513 | |||||
Materialise NV - ADR(a) | 6,840 | 43,297 | |||||
Microsoft Corp. | 238 | 90,180 | |||||
Monday.com Ltd.(a)(b) | 1,040 | 187,034 | |||||
390,024 | |||||||
Auto Manufacturers - 1.6% | |||||||
Rivian Automotive, Inc. - Class A(a)(b) | 1,724 | 28,894 | |||||
Tesla, Inc.(a) | 377 | 90,510 | |||||
119,404 | |||||||
Commercial Services - 0.3% | |||||||
IWG PLC(a) | 14,335 | 25,915 | |||||
Commercial Services - Finance - 11.3% | |||||||
Adyen NV(a) | 54 | 63,103 | |||||
Block, Inc.(a) | 3,474 | 220,356 | |||||
PayPal Holdings, Inc.(a) | 2,359 | 135,902 | |||||
Shift4 Payments, Inc. - Class A(a)(b) | 1,892 | 124,531 | |||||
StoneCo Ltd. - Class A(a) | 15,531 | 242,284 | |||||
Yeahka Ltd.(a) | 34,099 | 61,035 | |||||
847,211 | |||||||
Communications Software - 0.4% | |||||||
Zoom Video Communications, Inc. - Class A(a) | 444 | 30,117 | |||||
Computer Software - 7.9% | |||||||
Cloudflare, Inc. - Class A(a) | 923 | 71,209 | |||||
Dropbox, Inc. - Class A(a)(b) | 1,839 | 51,823 | |||||
Fastly, Inc. - Class A(a) | 3,565 | 59,215 | |||||
Lightspeed Commerce, Inc.(a) | 4,094 | 65,791 | |||||
MongoDB, Inc.(a)(b) | 137 | 56,956 | |||||
Snowflake, Inc. - Class A(a) | 994 | 186,554 | |||||
Splunk, Inc.(a) | 582 | 88,196 | |||||
Twilio, Inc. - Class A(a) | 251 | 16,235 | |||||
595,979 | |||||||
Computers - Other - 2.3% | |||||||
Nano Dimension Ltd. - ADR(a)(b) | 31,981 | 73,556 | |||||
Stratasys Ltd.(a) | 8,679 | 95,816 | |||||
169,372 | |||||||
Data Processing & Management - 0.1% | |||||||
DocuSign, Inc.(a) | 215 | 9,267 | |||||
E-Commerce & Products - 9.0% | |||||||
Alibaba Group Holding Ltd. - ADR | 2,001 | 149,835 | |||||
eBay, Inc.(b) | 682 | 27,969 | |||||
Etsy, Inc.(a)(b) | 329 | 24,941 | |||||
Farfetch Ltd. - Class A(a) | 4,036 | 4,722 | |||||
JD.com, Inc. - ADR | 2,785 | 76,393 | |||||
JD.com, Inc. - Class A | 452 | 6,175 | |||||
PDD Holdings, Inc. - ADR(a) | 1,870 | 275,712 | |||||
Rakuten Group, Inc. | 18,822 | 74,570 | |||||
Sea Ltd. - ADR(a) | 934 | 33,829 | |||||
674,146 | |||||||
E-Commerce & Services - 13.5% | |||||||
Airbnb, Inc. - Class A(a)(b) | 1,826 | 230,697 | |||||
BASE, Inc.(a) | 4,180 | 6,899 | |||||
Demae-Can Co. Ltd.(a) | 3,380 | 9,237 | |||||
Fiverr International Ltd.(a) | 1,283 | 33,473 | |||||
Lyft, Inc. - Class A(a)(b) | 2,189 | 25,677 | |||||
MercadoLibre, Inc.(a) | 176 | 285,200 | |||||
Uber Technologies, Inc.(a) | 4,006 | 225,858 | |||||
Upwork, Inc.(a) | 14,246 | 200,726 | |||||
1,017,767 | |||||||
E-Marketing - Information - 0.5% | |||||||
Jumia Technologies AG - ADR(a)(b) | 10,759 | 36,473 | |||||
Enterprise Software & Services - 6.6% | |||||||
HubSpot, Inc.(a) | 223 | 110,146 | |||||
Salesforce, Inc.(a) | 316 | 79,600 | |||||
UiPath, Inc. - Class A(a) | 12,295 | 242,950 | |||||
Workday, Inc. - Class A(a) | 242 | 65,514 | |||||
498,210 | |||||||
Entertainment Software - 7.7% | |||||||
HUYA, Inc. - ADR(a) | 17,924 | 60,762 | |||||
NetEase, Inc. - ADR | 1,545 | 175,327 | |||||
ROBLOX Corp. - Class A(a)(b) | 5,128 | 201,582 | |||||
Unity Software, Inc.(a)(b) | 4,933 | 145,573 | |||||
583,244 | |||||||
Finance - Consumer Loans - 1.0% | |||||||
Dave, Inc.(a) | 455 | 2,730 | |||||
LendingClub Corp.(a) | 3,502 | 22,063 | |||||
LendingTree, Inc.(a) | 904 | 16,001 | |||||
Upstart Holdings, Inc.(a)(b) | 1,283 | 34,332 | |||||
75,126 | |||||||
Finance - Other Services - 5.0% | |||||||
Coinbase Global, Inc. - Class A(a)(b) | 3,019 | 376,530 | |||||
Internet Application Software - 4.3% | |||||||
Shopify, Inc. - Class A(a) | 4,449 | 323,976 | |||||
Internet Content - Entertainment - 6.9% | |||||||
JOYY, Inc. - ADR | 2,512 | 96,486 | |||||
Pinterest, Inc. - Class A(a) | 2,264 | 77,134 | |||||
Snap, Inc. - Class A(a)(b) | 6,390 | 88,374 | |||||
Spotify Technology SA(a) | 1,378 | 255,082 | |||||
517,076 | |||||||
Internet Content - Information & News - 5.1% | |||||||
Bilibili, Inc. - ADR(a)(b) | 1,876 | 21,255 | |||||
DiDi Global, Inc. - ADR(a) | 18,913 | 75,085 | |||||
Meituan - Class B(a) | 5,027 | 58,314 | |||||
Nerdy, Inc.(a) | 19,832 | 51,563 | |||||
Tencent Holdings Ltd. | 4,205 | 176,053 | |||||
382,270 | |||||||
Internet Gambling - 3.3% | |||||||
DraftKings, Inc. - Class A(a)(b) | 6,494 | 248,331 | |||||
Medical - HMO - 1.7% | |||||||
Oscar Health, Inc. - Class A(a) | 15,486 | 131,631 | |||||
Medical - Output & Home Medicine - 0.9% | |||||||
Teladoc Health, Inc.(a) | 3,538 | 64,179 | |||||
Metal Processors & Fabrication - 1.4% | |||||||
Proto Labs, Inc.(a)(b) | 2,924 | 105,849 | |||||
Property & Casualty Insurance - 1.3% | |||||||
Lemonade, Inc.(a)(b) | 5,750 | 101,603 | |||||
Real Estate Operations & Development - 0.0%(c) | |||||||
WeWork, Inc.(a) | 126 | 82 | |||||
Schools - 0.1% | |||||||
2U, Inc.(a) | 8,776 | 8,622 | |||||
Web Portals & ISPs - 1.7% | |||||||
Baidu, Inc. - ADR(a) | 1,082 | 128,390 | |||||
Yandex NV - Class A(a)(d) | 4,764 | 0 | |||||
128,390 | |||||||
TOTAL COMMON STOCKS (Cost $16,519,110) | 7,529,986 | ||||||
SHORT-TERM INVESTMENTS - 27.9% | |||||||
Investments Purchased with Proceeds from Securities Lending - 27.9% | |||||||
Mount Vernon Liquid Assets Portfolio, LLC, 4.93%(e) | 2,096,511 | 2,096,511 | |||||
Money Market Funds - 0.0%(c) | |||||||
First American Government Obligations Fund - Class X, 5.29%(e) | 1,332 | 1,332 | |||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,097,843) | 2,097,843 | ||||||
TOTAL INVESTMENTS - 127.9% (Cost $18,616,953) | $ | 9,627,829 | |||||
Liabilities in Excess of Other Assets - (27.9)% | (2,098,278) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 7,529,551 | |||||
Percentages are stated as a percent of net assets. |
ADR - American Depositary Receipt |
PLC - Public Limited Company |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan as of November 30, 2023. The total market value of these securities was $2,036,799 which represented 27.1% of net assets. The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. |
(c) | Represents less than 0.05% of net assets. |
(d) | 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 November 30, 2023. |
(e) | The rate shown represents the annualized seven-day effective yield as of November 30, 2023. |
Summary of Fair Value Exposure at November 30, 2023 (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 November 30, 2023: | ||||||||||||||||
SoFi Be Your Own Boss ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Advertising Services | 69,192 | – | – | 69,192 | ||||||||||||
Applications Software | 390,024 | – | – | 390,024 | ||||||||||||
Auto Manufacturers | 119,404 | – | – | 119,404 | ||||||||||||
Commercial Services | 25,915 | – | – | 25,915 | ||||||||||||
Commercial Services - Finance | 847,211 | – | – | 847,211 | ||||||||||||
Communications Software | 30,117 | – | – | 30,117 | ||||||||||||
Computer Software | 595,979 | – | – | 595,979 | ||||||||||||
Computers - Other | 169,372 | – | – | 169,372 | ||||||||||||
Data Processing & Management | 9,267 | – | – | 9,267 | ||||||||||||
E-Commerce & Products | 674,146 | – | – | 674,146 | ||||||||||||
E-Commerce & Services | 1,017,767 | – | – | 1,017,767 | ||||||||||||
E-Marketing - Information | 36,473 | – | – | 36,473 | ||||||||||||
Enterprise Software & Services | 498,210 | – | – | 498,210 | ||||||||||||
Entertainment Software | 583,244 | – | – | 583,244 | ||||||||||||
Finance - Consumer Loans | 75,126 | – | – | 75,126 | ||||||||||||
Finance - Other Services | 376,530 | – | – | 376,530 | ||||||||||||
Internet Application Software | 323,976 | – | – | 323,976 | ||||||||||||
Internet Content - Entertainment | 517,076 | – | – | 517,076 | ||||||||||||
Internet Content - Information & News | 382,270 | – | – | 382,270 | ||||||||||||
Internet Gambling | 248,331 | – | – | 248,331 | ||||||||||||
Medical - HMO | 131,631 | – | – | 131,631 | ||||||||||||
Medical - Output & Home Medicine | 64,179 | – | – | 64,179 | ||||||||||||
Metal Processors & Fabrication | 105,849 | – | – | 105,849 | ||||||||||||
Property & Casualty Insurance | 101,603 | – | – | 101,603 | ||||||||||||
Real Estate Operations & Development | 82 | – | – | 82 | ||||||||||||
Schools | 8,622 | – | – | 8,622 | ||||||||||||
Web Portals & ISPs | 128,390 | – | 0 | (a) | 128,390 | |||||||||||
Common Stocks - Total | $ | 7,529,986 | $ | – | $ | 0 | $ | 7,529,986 | ||||||||
Investments Purchased with Proceeds from Securities Lending(b) | – | – | – | 2,096,511 | ||||||||||||
Money Market Funds | 1,332 | – | – | 1,332 | ||||||||||||
Total Investments | $ | 7,531,318 | $ | – | $ | 0 | $ | 9,627,829 | ||||||||
Refer to the Schedule of Investments for industry classifications. |
Common Stock | ||||||||
Balance as of February 28, 2023 | $ | 0(a) | ||||||
Accrued discounts/premiums | - | |||||||
Realized gain (loss) | - | |||||||
Change in unrealized appreciation/depreciation | - | |||||||
Purchases | - | |||||||
Sales | - | |||||||
Transfer into and/or out of Level 3 | - | |||||||
Balance as of November 30, 2023 | $ | 0 | ||||||
Change in unrealized appreciate/depreciation during the period for Level 3 investments held at November 30, 2023: | $ | 0 | ||||||
(a) | The Level 3 securities (Common Stocks) 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. | |||||||
(b) | 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 listed in the Schedule of Investments. |