Residential REIT ETF
Schedule of Investments
October 31, 2024 (Unaudited)
| REAL ESTATE INVESTMENT TRUSTS - 94.9% | | Shares | | | Value | |
| American Homes 4 Rent - Class A | | | 8,997 | | | $ | 317,054 | |
| Apartment Investment and Management Co. - Class A | | | 39,147 | | | | 330,401 | |
| AvalonBay Communities, Inc. | | | 1,552 | | | | 343,939 | |
| BRT Apartments Corp. | | | 19,168 | | | | 311,097 | |
| Camden Property Trust | | | 2,842 | | | | 329,075 | |
| CareTrust REIT, Inc. | | | 11,240 | | | | 367,211 | |
| Centerspace | | | 4,888 | | | | 340,498 | |
| Elme Communities | | | 20,044 | | | | 338,142 | |
| Equity LifeStyle Properties, Inc. | | | 4,950 | | | | 347,094 | |
| Equity Residential | | | 4,694 | | | | 330,317 | |
| Essex Property Trust, Inc. | | | 1,184 | | | | 336,090 | |
| Extra Space Storage, Inc. | | | 1,951 | | | | 318,598 | |
| Independence Realty Trust, Inc. | | | 17,403 | | | | 341,447 | |
| Invitation Homes, Inc. | | | 10,054 | | | | 315,796 | |
| Mid-America Apartment Communities, Inc. | | | 2,217 | | | | 335,521 | |
| NexPoint Residential Trust, Inc. | | | 8,068 | | | | 336,032 | |
| Public Storage | | | 972 | | | | 319,846 | |
| Sun Communities, Inc. | | | 2,601 | | | | 345,101 | |
| UDR, Inc. | | | 7,673 | | | | 323,724 | |
| UMH Properties, Inc. | | | 17,923 | | | | 334,264 | |
| Veris Residential, Inc. | | | 19,664 | | | | 323,866 | |
| Welltower, Inc. | | | 2,708 | | | | 365,255 | |
| TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $7,354,803) | | | | | | | 7,350,368 | |
| | | | | | | | | |
| SHORT-TERM INVESTMENTS - 5.1% | | | | | | | | |
| Money Market Funds - 5.1% | | | | | | | | |
| First American Government Obligations Fund - Class X, 4.78% (a) | | | 397,903 | | | | 397,903 | |
| TOTAL SHORT-TERM INVESTMENTS (Cost $397,903) | | | | | | | 397,903 | |
| | | | | | | | | |
| TOTAL INVESTMENTS - 100.0% (Cost $7,752,706) | | | | | | | 7,748,271 | |
| Liabilities in Excess of Other Assets - (0.0)% (b) | | | | | | | (2,434 | ) |
| TOTAL NET ASSETS - 100.0% | | | | | | $ | 7,745,837 | |
Percentages are stated as a percent of net assets.
| (a) | | The rate shown represents the 7-day annualized effective yield as of October 31, 2024. |
| (b) | | Represents less than 0.05% of net assets. |
Summary of Fair Value Disclosure as of October 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 October 31, 2024:
Residential REIT ETF
| | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
| Investments: | | | | | | | | | | | | |
| Real Estate Investment Trusts | | $ | 7,350,368 | | | $ | — | | | $ | — | | | $ | 7,350,368 | |
| Money Market Funds | | | 397,903 | | | | — | | | | — | | | | 397,903 | |
| Total Investments | | $ | 7,748,271 | | | $ | — | | | $ | — | | | $ | 7,748,271 | |
Refer to the Schedule of Investments for further disaggregation of investment categories.
