PACIFIC GLOBAL ETFs | ||||||||
PACIFIC GLOBAL US EQUITY INCOME ETF | ||||||||
Portfolio of Investments | ||||||||
September 30, 2019 (Unaudited) | ||||||||
Security Description | Shares | Fair Value | ||||||
COMMON STOCKS - 99.6% | ||||||||
Basic Materials - 3.0% | ||||||||
Air Products & Chemicals, Inc. | 696 | $ | 154,415 | |||||
Albemarle Corp. | 472 | 32,813 | ||||||
Cabot Corp. | 364 | 16,497 | ||||||
CF Industries Holdings, Inc. | 709 | 34,883 | ||||||
Chemours Co. | 561 | 8,381 | ||||||
Domtar Corp. | 176 | 6,303 | ||||||
Dow, Inc. | 2,235 | 106,498 | ||||||
Eastman Chemical Co. | 939 | 69,326 | ||||||
Huntsman Corp. | 724 | 16,840 | ||||||
International Flavors & Fragrances, Inc. | 357 | 43,800 | ||||||
International Paper Co. | 3,987 | 166,736 | ||||||
LyondellBasell Industries NV | 918 | 82,133 | ||||||
Nucor Corp. | 1,134 | 57,732 | ||||||
Olin Corp. | 493 | 9,229 | ||||||
Reliance Steel & Aluminum Co. | 236 | 23,520 | ||||||
RPM International, Inc. | 390 | 26,836 | ||||||
Southern Copper Corp. | 260 | 8,874 | ||||||
Steel Dynamics, Inc. | 736 | 21,933 | ||||||
886,749 | ||||||||
Communications - 6.0% | ||||||||
AT&T, Inc. | 9,793 | 370,567 | ||||||
CenturyLink, Inc. | 3,405 | 42,494 | ||||||
Cisco Systems, Inc. | 7,513 | 371,217 | ||||||
Corning, Inc. | 3,292 | 93,888 | ||||||
Interpublic Group of Cos., Inc. | 17,426 | 375,705 | ||||||
John Wiley & Sons, Inc. | 271 | 11,908 | ||||||
Juniper Networks, Inc. | 2,054 | 50,837 | ||||||
Omnicom Group, Inc. | 678 | 53,087 | ||||||
Telephone & Data Systems, Inc. | 330 | 8,514 | ||||||
Verizon Communications, Inc. | 6,053 | 365,359 | ||||||
Viacom, Inc. | 1,220 | 29,317 | ||||||
1,772,893 | ||||||||
Consumer, Cyclical - 12.5% | ||||||||
Alaska Air Group, Inc. | 454 | 29,469 | ||||||
Best Buy Co, Inc. | 794 | 54,778 |
Carnival Corp. | 2,175 | 95,069 | ||||||
Carter's, Inc. | 152 | 13,864 | ||||||
Cinemark Holdings, Inc. | 449 | 17,349 | ||||||
Copa Holdings SA | 94 | 9,282 | ||||||
Darden Restaurants, Inc. | 378 | 44,687 | ||||||
Delta Air Lines, Inc. | 6,261 | 360,634 | ||||||
Dick's Sporting Goods, Inc. | 243 | 9,917 | ||||||
Extended Stay America, Inc. | 979 | 14,332 | ||||||
Fastenal Co. | 1,787 | 58,381 | ||||||
Foot Locker, Inc. | 664 | 28,658 | ||||||
Ford Motor Co. | 16,643 | 152,450 | ||||||
Gap, Inc. | 1,017 | 17,655 | ||||||
General Motors Co. | 3,662 | 137,252 | ||||||
Genuine Parts Co. | 643 | 64,036 | ||||||
Goodyear Tire & Rubber Co. | 2,531 | 36,459 | ||||||
Hanesbrands, Inc. | 2,031 | 31,115 | ||||||
Harley-Davidson, Inc. | 7,370 | 265,099 | ||||||
Hasbro, Inc. | 318 | 37,743 | ||||||
Home Depot, Inc. | 1,584 | 367,520 | ||||||
International Game Technology Plc | 304 | 4,320 | ||||||
KAR Auction Services, Inc. | 396 | 9,722 | ||||||
Kohl's Corp. | 657 | 32,627 | ||||||
L Brands, Inc. | 686 | 13,439 | ||||||
Las Vegas Sands Corp. | 1,081 | 62,439 | ||||||
Lear Corp. | 369 | 43,505 | ||||||
Leggett & Platt, Inc. | 426 | 17,440 | ||||||
Macy's, Inc. | 1,545 | 24,009 | ||||||
McDonald's Corp. | 1,706 | 366,295 | ||||||
MSC Industrial Direct Co., Inc. | 340 | 24,660 | ||||||
Newell Brands, Inc. | 5,011 | 93,806 | ||||||
Nordstrom, Inc. | 534 | 17,980 | ||||||
Nu Skin Enterprises, Inc. | 181 | 7,698 | ||||||
Penske Automotive Group, Inc. | 344 | 16,264 | ||||||
Polaris, Inc. | 361 | 31,772 | ||||||
Ralph Lauren Corp. | 197 | 18,808 | ||||||
Royal Caribbean Cruises Ltd. | 717 | 77,673 | ||||||
Scotts Miracle-Gro Co. | 123 | 12,524 | ||||||
Six Flags Entertainment Corp. | 831 | 42,206 | ||||||
Tapestry, Inc. | 885 | 23,054 | ||||||
Target Corp. | 1,650 | 176,401 | ||||||
Thor Industries, Inc. | 217 | 12,291 | ||||||
Tiffany & Co. | 490 | 45,389 | ||||||
Vail Resorts, Inc. | 232 | 52,794 | ||||||
Walgreens Boots Alliance, Inc. | 5,822 | 322,015 | ||||||
Watsco, Inc. | 651 | 110,136 | ||||||
Whirlpool Corp. | 188 | 29,772 | ||||||
Williams-Sonoma, Inc. | 247 | 16,791 |
Wyndham Destinations, Inc. | 1,951 | 89,785 | ||||||
Wyndham Hotels & Resorts, Inc. | 286 | 14,798 | ||||||
Wynn Resorts Ltd. | 289 | 31,420 | ||||||
3,687,582 | ||||||||
Consumer, Non-cyclical - 23.1% | ||||||||
AbbVie, Inc. | 4,905 | 371,407 | ||||||
Altria Group, Inc. | 9,066 | 370,799 | ||||||
Amgen, Inc. | 1,868 | 361,477 | ||||||
Archer-Daniels-Midland Co. | 3,239 | 133,026 | ||||||
Bristol-Myers Squibb Co. | 5,079 | 257,556 | ||||||
Bunge Ltd. | 5,298 | 299,973 | ||||||
Campbell Soup Co. | 496 | 23,272 | ||||||
Cardinal Health, Inc. | 7,653 | 361,145 | ||||||
Clorox Co. | 443 | 67,279 | ||||||
Coca-Cola Co. | 6,732 | 366,490 | ||||||
Colgate-Palmolive Co. | 2,741 | 201,491 | ||||||
Conagra Brands, Inc. | 1,394 | 42,768 | ||||||
Coty, Inc. | 1,608 | 16,900 | ||||||
CVS Health Corp. | 5,232 | 329,982 | ||||||
Eli Lilly & Co. | 2,839 | 317,485 | ||||||
Flowers Foods, Inc. | 636 | 14,711 | ||||||
General Mills, Inc. | 2,224 | 122,587 | ||||||
Gilead Sciences, Inc. | 4,495 | 284,893 | ||||||
H&R Block, Inc. | 597 | 14,101 | ||||||
Ingredion, Inc. | 419 | 34,249 | ||||||
JM Smucker Co. | 383 | 42,138 | ||||||
Johnson & Johnson | 2,795 | 361,617 | ||||||
Kellogg Co. | 855 | 55,019 | ||||||
Keurig Dr Pepper, Inc. | 597 | 16,310 | ||||||
Kimberly-Clark Corp. | 1,068 | 151,709 | ||||||
Kraft Heinz Co. | 2,774 | 77,492 | ||||||
Kroger Co. | 3,901 | 100,568 | ||||||
Macquarie Infrastructure Corp. | 1,039 | 41,009 | ||||||
ManpowerGroup, Inc. | 251 | 21,144 | ||||||
Merck & Co, Inc. | 4,352 | 366,351 | ||||||
Molson Coors Brewing Co. | 528 | 30,360 | ||||||
Nielsen Holdings Plc | 1,187 | 25,224 | ||||||
PepsiCo, Inc. | 2,690 | 368,799 | ||||||
Pfizer, Inc. | 10,118 | 363,540 | ||||||
Philip Morris International, Inc. | 4,856 | 368,716 | ||||||
Procter & Gamble Co. | 2,932 | 364,682 | ||||||
Robert Half International, Inc. | 523 | 29,110 | ||||||
Sabre Corp. | 861 | 19,282 | ||||||
Spectrum Brands Holdings, Inc. | 165 | 8,696 | ||||||
6,803,357 |
Energy - 7.3% | ||||||||
Apache Corp. | 1,251 | 32,026 | ||||||
Baker Hughes a GE Co. | 2,010 | 46,632 | ||||||
Chevron Corp. | 3,003 | 356,156 | ||||||
Exxon Mobil Corp. | 5,133 | 362,441 | ||||||
Halliburton Co. | 2,752 | 51,875 | ||||||
Helmerich & Payne, Inc. | 399 | 15,988 | ||||||
HollyFrontier Corp. | 505 | 27,088 | ||||||
Kinder Morgan, Inc. | 5,845 | 120,465 | ||||||
Kosmos Energy Ltd. | 1,124 | 7,014 | ||||||
Marathon Petroleum Corp. | 2,158 | 131,099 | ||||||
Murphy Oil Corp. | 625 | 13,819 | ||||||
Noble Energy, Inc. | 1,655 | 37,171 | ||||||
Occidental Petroleum Corp. | 3,978 | 176,902 | ||||||
ONEOK, Inc. | 1,322 | 97,418 | ||||||
PBF Energy, Inc. | 334 | 9,081 | ||||||
Phillips 66 | 1,559 | 159,642 | ||||||
Targa Resources Corp. | 686 | 27,557 | ||||||
Schlumberger Ltd. | 8,013 | 273,804 | ||||||
Valero Energy Corp. | 1,388 | 118,313 | ||||||
Williams Cos., Inc. | 3,923 | 94,387 | ||||||
2,158,878 | ||||||||
Financials - 25.1% | ||||||||
AGNC Investment Corp. | 1,677 | 26,983 | ||||||
Alexandria Real Estate Equities, Inc. | 109 | 16,790 | ||||||
American Campus Communities, Inc. | 164 | 7,885 | ||||||
American International Group, Inc. | 2,751 | 153,231 | ||||||
Americold Realty Trust | 206 | 7,636 | ||||||
Ameriprise Financial, Inc. | 483 | 71,049 | ||||||
Apartment Investment & Management Co. | 167 | 8,707 | ||||||
Apple Hospitality REIT, Inc. | 275 | 4,559 | ||||||
Associated Banc-Corp | 1,192 | 24,138 | ||||||
AvalonBay Communities, Inc. | 147 | 31,654 | ||||||
AXA Equitable Holdings, Inc. | 1,020 | 22,603 | ||||||
Axis Capital Holdings Ltd. | 271 | 18,081 | ||||||
Bank of America Corp. | 12,481 | 364,071 | ||||||
Bank of Hawaii Corp. | 115 | 9,882 | ||||||
Bank of New York Mellon Corp. | 5,255 | 237,579 | ||||||
BANK OZK | 438 | 11,944 | ||||||
BankUnited, Inc. | 310 | 10,422 | ||||||
BB&T Corp. | 2,686 | 143,352 | ||||||
BGC Partners, Inc. | 863 | 4,746 | ||||||
BlackRock, Inc. | 400 | 178,256 | ||||||
BOK Financial Corp. | 91 | 7,203 | ||||||
Boston Properties, Inc. | 171 | 22,172 | ||||||
Brandywine Realty Trust | 201 | 3,045 |
Brixmor Property Group, Inc. | 332 | 6,736 | ||||||
Brookfield Property REIT, Inc. | 80 | 1,631 | ||||||
Camden Property Trust | 86 | 9,547 | ||||||
CIT Group, Inc. | 542 | 24,558 | ||||||
Citigroup, Inc. | 5,261 | 363,430 | ||||||
Citizens Financial Group, Inc. | 6,771 | 239,490 | ||||||
CNA Financial Corp. | 66 | 3,250 | ||||||
Columbia Property Trust, Inc. | 105 | 2,221 | ||||||
Comerica, Inc. | 1,764 | 116,406 | ||||||
CoreSite Realty Corp. | 44 | 5,361 | ||||||
Corporate Office Properties Trust | 106 | 3,157 | ||||||
Cousins Properties, Inc. | 156 | 5,864 | ||||||
Crown Castle International Corp. | 466 | 64,779 | ||||||
CubeSmart | 218 | 7,608 | ||||||
Cullen/Frost Bankers, Inc. | 199 | 17,621 | ||||||
CyrusOne, Inc. | 105 | 8,305 | ||||||
Digital Realty Trust, Inc. | 211 | 27,390 | ||||||
Discover Financial Services | 1,274 | 103,309 | ||||||
Douglas Emmett, Inc. | 162 | 6,938 | ||||||
Duke Realty Corp. | 321 | 10,904 | ||||||
East West Bancorp, Inc. | 478 | 21,171 | ||||||
Eaton Vance Corp. | 383 | 17,208 | ||||||
Empire State Realty Trust, Inc. | 176 | 2,512 | ||||||
EPR Properties | 98 | 7,532 | ||||||
Equity Residential | 395 | 34,073 | ||||||
Essex Property Trust, Inc. | 67 | 21,886 | ||||||
Evercore, Inc. | 137 | 10,974 | ||||||
Everest Re Group Ltd. | 118 | 31,399 | ||||||
Extra Space Storage, Inc. | 136 | 15,888 | ||||||
Federal Realty Investment Trust | 98 | 13,342 | ||||||
Fidelity National Financial, Inc. | 861 | 38,237 | ||||||
Fifth Third Bancorp | 4,692 | 128,467 | ||||||
First American Financial Corp. | 333 | 19,650 | ||||||
First Hawaiian, Inc. | 397 | 10,600 | ||||||
First Horizon National Corp. | 1,115 | 18,063 | ||||||
FNB Corp. | 960 | 11,069 | ||||||
Franklin Resources, Inc. | 1,290 | 37,229 | ||||||
Gaming and Leisure Properties, Inc. | 220 | 8,413 | ||||||
Goldman Sachs Group Inc/The | 1,114 | 230,854 | ||||||
HCP, Inc. | 438 | 15,606 | ||||||
Healthcare Trust of America, Inc. | 213 | 6,258 | ||||||
Highwoods Properties, Inc. | 120 | 5,393 | ||||||
Host Hotels & Resorts, Inc. | 783 | 13,538 | ||||||
Hudson Pacific Properties, Inc. | 168 | 5,621 | ||||||
Huntington Bancshares, Inc. | 3,719 | 53,070 | ||||||
Invesco Ltd. | 3,279 | 55,546 | ||||||
Iron Mountain, Inc. | 393 | 12,729 |
Janus Henderson Group Plc | 524 | 11,769 | ||||||
JBG SMITH Properties | 111 | 4,352 | ||||||
Jefferies Financial Group, Inc. | 2,118 | 38,971 | ||||||
JPMorgan Chase & Co. | 3,097 | 364,486 | ||||||
KeyCorp | 3,571 | 63,707 | ||||||
Kilroy Realty Corp. | 104 | 8,101 | ||||||
Kimco Realty Corp. | 456 | 9,521 | ||||||
Lamar Advertising Co. | 88 | 7,210 | ||||||
Lazard Ltd. | 341 | 11,935 | ||||||
Legg Mason, Inc. | 298 | 11,381 | ||||||
Liberty Property Trust | 125 | 6,416 | ||||||
Life Storage, Inc. | 44 | 4,638 | ||||||
Lincoln National Corp. | 1,544 | 93,134 | ||||||
M&T Bank Corp. | 458 | 72,350 | ||||||
Macerich Co. | 176 | 5,560 | ||||||
Medical Properties Trust, Inc. | 476 | 9,311 | ||||||
Mercury General Corp. | 87 | 4,862 | ||||||
MetLife, Inc. | 2,994 | 141,197 | ||||||
MFA Financial, Inc. | 1,211 | 8,913 | ||||||
Mid-America Apartment Communities, Inc. | 110 | 14,301 | ||||||
Morgan Stanley | 8,517 | 363,420 | ||||||
National Retail Properties, Inc. | 169 | 9,532 | ||||||
Navient Corp. | 712 | 9,114 | ||||||
New York Community Bancorp, Inc. | 1,309 | 16,428 | ||||||
Northern Trust Corp. | 1,035 | 96,586 | ||||||
Old Republic International Corp. | 842 | 19,846 | ||||||
Omega Healthcare Investors, Inc. | 231 | 9,653 | ||||||
Outfront Media, Inc. | 150 | 4,167 | ||||||
PacWest Bancorp | 1,150 | 41,791 | ||||||
Paramount Group, Inc. | 264 | 3,524 | ||||||
Park Hotels & Resorts, Inc. | 233 | 5,818 | ||||||
People's United Financial, Inc. | 1,324 | 20,701 | ||||||
PNC Financial Services Group, Inc. | 1,656 | 232,105 | ||||||
Popular, Inc. | 502 | 27,148 | ||||||
Principal Financial Group, Inc. | 1,356 | 77,482 | ||||||
Prologis, Inc. | 594 | 50,621 | ||||||
Prosperity Bancshares, Inc. | 226 | 15,962 | ||||||
Prudential Financial, Inc. | 2,761 | 248,352 | ||||||
Public Storage | 166 | 40,715 | ||||||
Rayonier, Inc. | 134 | 3,779 | ||||||
Realty Income Corp. | 324 | 24,844 | ||||||
Regency Centers Corp. | 185 | 12,856 | ||||||
Regions Financial Corp. | 3,565 | 56,398 | ||||||
Retail Properties of America, Inc. | 256 | 3,154 | ||||||
Santander Consumer USA Holdings, Inc. | 416 | 10,612 | ||||||
Service Properties Trust | 212 | 5,468 | ||||||
Simon Property Group, Inc. | 411 | 63,972 |
SITE Centers Corp. | 181 | 2,735 | ||||||
SL Green Realty Corp. | 99 | 8,093 | ||||||
Spirit Realty Capital, Inc. | 87 | 4,164 | ||||||
Starwood Property Trust, Inc. | 682 | 16,518 | ||||||
State Street Corp. | 2,027 | 119,978 | ||||||
STORE Capital Corp. | 220 | 8,230 | ||||||
SunTrust Banks, Inc. | 1,651 | 113,589 | ||||||
Synchrony Financial | 5,505 | 187,665 | ||||||
Synovus Financial Corp. | 802 | 28,680 | ||||||
T Rowe Price Group, Inc. | 723 | 82,603 | ||||||
Taubman Centers, Inc. | 66 | 2,695 | ||||||
TCF Financial Corp. | 482 | 18,350 | ||||||
TD Ameritrade Holding Corp. | 815 | 38,060 | ||||||
Travelers Cos., Inc. | 890 | 132,334 | ||||||
UDR, Inc. | 289 | 14,011 | ||||||
Umpqua Holdings Corp. | 653 | 10,748 | ||||||
Unum Group | 2,425 | 72,071 | ||||||
US Bancorp | 4,478 | 247,813 | ||||||
Ventas, Inc. | 381 | 27,824 | ||||||
VEREIT, Inc. | 1,051 | 10,279 | ||||||
VICI Properties, Inc. | 508 | 11,506 | ||||||
Virtu Financial, Inc. | 159 | 2,601 | ||||||
Vornado Realty Trust | 228 | 14,517 | ||||||
Webster Financial Corp. | 301 | 14,108 | ||||||
Weingarten Realty Investors | 159 | 4,632 | ||||||
Wells Fargo & Co. | 7,432 | 374,870 | ||||||
Welltower, Inc. | 371 | 33,631 | ||||||
Western Alliance Bancorp | 304 | 14,008 | ||||||
Western Union Co. | 1,447 | 33,527 | ||||||
Weyerhaeuser Co. | 788 | 21,828 | ||||||
WP Carey, Inc. | 152 | 13,604 | ||||||
Zions Bancorp NA | 1,878 | 83,609 | ||||||
7,395,865 | ||||||||
Industrial - 12.5% | ||||||||
3M Co. | 2,230 | 366,612 | ||||||
Boeing Co. | 946 | 359,925 | ||||||
Caterpillar, Inc. | 1,792 | 226,347 | ||||||
CH Robinson Worldwide, Inc. | 443 | 37,557 | ||||||
Cummins, Inc. | 528 | 85,890 | ||||||
Eaton Corp Plc | 1,343 | 111,670 | ||||||
Emerson Electric Co. | 1,996 | 133,453 | ||||||
Energizer Holdings, Inc. | 202 | 8,803 | ||||||
Fluor Corp. | 422 | 8,073 | ||||||
Garmin Ltd. | 365 | 30,912 | ||||||
General Dynamics Corp. | 835 | 152,579 | ||||||
GrafTech International Ltd. | 217 | 2,778 |
Graphic Packaging Holding Co. | 2,527 | 37,273 | ||||||
Hubbell, Inc. | 177 | 23,258 | ||||||
Illinois Tool Works, Inc. | 1,728 | 270,415 | ||||||
Johnson Controls International Plc | 2,608 | 114,465 | ||||||
Lincoln Electric Holdings, Inc. | 222 | 19,261 | ||||||
Lockheed Martin Corp. | 698 | 272,262 | ||||||
MDU Resources Group, Inc. | 154 | 4,341 | ||||||
National Instruments Corp. | 407 | 17,090 | ||||||
nVent Electric Plc | 498 | 10,976 | ||||||
Packaging Corp of America | 281 | 29,814 | ||||||
Rockwell Automation, Inc. | 395 | 65,096 | ||||||
Ryder System, Inc. | 732 | 37,896 | ||||||
Snap-on, Inc. | 316 | 49,467 | ||||||
Sonoco Products Co. | 319 | 18,569 | ||||||
Timken Co. | 202 | 8,789 | ||||||
Trinity Industries, Inc. | 702 | 13,815 | ||||||
Union Pacific Corp. | 2,222 | 359,920 | ||||||
United Parcel Service, Inc. | 3,089 | 370,124 | ||||||
United Technologies Corp. | 2,335 | 318,774 | ||||||
Westrock Co. | 2,743 | 99,982 | ||||||
3,666,186 | ||||||||
Technology - 8.2% | ||||||||
Broadcom, Inc. | 1,325 | 365,793 | ||||||
DXC Technology Co. | 887 | 26,167 | ||||||
Hewlett Packard Enterprise Co. | 9,559 | 145,010 | ||||||
HP, Inc. | 6,226 | 117,796 | ||||||
Intel Corp. | 7,207 | 371,377 | ||||||
International Business Machines Corp. | 2,563 | 372,711 | ||||||
Maxim Integrated Products, Inc. | 885 | 51,250 | ||||||
NetApp, Inc. | 1,317 | 69,156 | ||||||
Paychex, Inc. | 964 | 79,790 | ||||||
QUALCOMM, Inc. | 4,195 | 319,995 | ||||||
Skyworks Solutions, Inc. | 645 | 51,116 | ||||||
Texas Instruments, Inc. | 2,854 | 368,851 | ||||||
Western Digital Corp. | 854 | 50,932 | ||||||
Xerox Holdings Corp. | 728 | 21,774 | ||||||
2,411,718 | ||||||||
Utilities - 1.9% | ||||||||
AES Corp. | 460 | 7,516 | ||||||
Alliant Energy Corp. | 154 | 8,305 | ||||||
Ameren Corp. | 132 | 10,567 | ||||||
American Electric Power Co., Inc. | 281 | 26,327 | ||||||
Aqua America, Inc. | 132 | 5,918 | ||||||
Avangrid, Inc. | 22 | 1,150 | ||||||
CenterPoint Energy, Inc. | 340 | 10,261 |
CMS Energy Corp. | 176 | 11,255 | ||||||
Consolidated Edison, Inc. | 198 | 18,705 | ||||||
Dominion Energy, Inc. | 619 | 50,164 | ||||||
DTE Energy Co. | 103 | 13,695 | ||||||
Duke Energy Corp. | 454 | 43,520 | ||||||
Edison International | 281 | 21,193 | ||||||
Entergy Corp. | 100 | 11,736 | ||||||
Evergy, Inc. | 159 | 10,583 | ||||||
Eversource Energy | 198 | 16,923 | ||||||
Exelon Corp. | 579 | 27,972 | ||||||
FirstEnergy Corp. | 276 | 13,312 | ||||||
Hawaiian Electric Industries, Inc. | 44 | 2,007 | ||||||
IDACORP, Inc. | 35 | 3,943 | ||||||
National Fuel Gas Co. | 58 | 2,721 | ||||||
NextEra Energy, Inc. | 290 | 67,567 | ||||||
OGE Energy Corp. | 132 | 5,990 | ||||||
Pinnacle West Capital Corp. | 66 | 6,407 | ||||||
PPL Corp. | 514 | 16,186 | ||||||
Public Service Enterprise Group, Inc. | 303 | 18,810 | ||||||
Sempra Energy | 176 | 25,979 | ||||||
Southern Co. | 667 | 41,201 | ||||||
UGI Corp. | 153 | 7,691 | ||||||
WEC Energy Group, Inc. | 185 | 17,594 | ||||||
Xcel Energy, Inc. | 309 | 20,051 | ||||||
545,249 | ||||||||
Total Common Stocks | ||||||||
(Cost $28,818,966) | 29,328,477 | |||||||
SHORT TERM INVESTMENTS - 0.2% | ||||||||
First American Treasury Obligations Fund - Class X, 1.89% (a) | 65,123 | 65,123 | ||||||
Total Short Term Investments | ||||||||
(Cost $65,123) | 65,123 | |||||||
TOTAL INVESTMENTS - 99.8% | ||||||||
(Cost $28,884,089) | 29,393,600 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2% | 50,924 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 29,444,524 | ||||||
(a) Seven-day yield as of September 30, 2019 | ||||||||
Glossary: | ||||||||
Ltd. - Private Limited Company | ||||||||
Plc - Public Limited Company |
PACIFIC GLOBAL ETFs | ||
PACIFIC GLOBAL US EQUITY INCOME ETF | ||
Portfolio of Investments | ||
(as of September 30, 2019) | ||
Financial | 25.1% | |
Consumer, Non-cyclical | 23.1% | |
Consumer, Cyclical | 12.5% | |
Industrial | 12.5% | |
Technology | 8.2% | |
Energy | 7.3% | |
Communications | 6.0% | |
Basic Materials | 3.0% | |
Utilities | 1.9% | |
Money Market Funds | 0.2% | |
Total Investments | 99.8% | |
Other Assets in Excess of Liabilities | 0.2% | |
Net Assets | 100.0% | |
Percentages indicated are based upon net assets. |
PACIFIC GLOBAL ETFs | |||||
NOTES TO PORTFOLIOS OF INVESTMENTS | |||||
September 30, 2019 (Unaudited) | |||||
Securities Valuation | |||||
All equity securities, including domestic and foreign common stocks, preferred stocks, and exchange traded funds that are traded on a national securities exchange, except those listed on the Nasdaq Global Market®, Nasdaq Global Select Market® and Nasdaq Capital Market Exchange® (collectively “Nasdaq”), are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on Nasdaq will be valued at the Nasdaq Official Closing Price (“NOCP”). If, on a particular day, an exchange traded or Nasdaq security does not trade, then the mean between the most recent quoted bid and asked prices will be used. All equity securities that are not traded on a listed exchange are valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. | |||||
Short-term securities, including repurchase agreements, that have maturities of less than 60 days at the time of purchase, are valued at amortized cost, which, when combined with accrued interest, approximates fair value. | |||||
Securities for which quotations are not readily available are valued at their respective fair values in accordance with pricing procedures adopted by the Fund’s Board of Trustees (the “Board”). When a security is “fair valued,” consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing procedures adopted by the Board. The use of fair value pricing by the Fund may cause the NAV of its shares to differ significantly from the NAV that would be calculated without regard to such considerations. | |||||
Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. Level 1 — Quoted prices in active markets for identical securities. Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 — Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). | |||||
The following table summarizes the market value of the fund’s investments as of September 30, 2019, based on the inputs used to value them: |
Pacific Global US Equity Income ETF | ||||||||||||||||
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | $ | 29,328,477 | $ | - | $ | - | $ | 29,328,477 | ||||||||
Short Term Investments | $ | 65,123 | $ | - | $ | - | $ | 65,123 | ||||||||
Total | $ | 29,393,600 | $ | - | $ | - | $ | 29,393,600 |