PACIFIC GLOBAL ETFs | ||||||||
PACIFIC GLOBAL US EQUITY INCOME ETF | ||||||||
Portfolio of Investments | ||||||||
September 30, 2020 (Unaudited) | ||||||||
Security Description | Shares | Fair Value | ||||||
COMMON STOCKS - 99.2% | ||||||||
Basic Materials - 3.6% | ||||||||
Air Products & Chemicals, Inc. | 879 | $ | 261,819 | |||||
Cabot Corp. | 216 | 7,782 | ||||||
Celanese Corp. | 538 | 57,808 | ||||||
CF Industries Holdings, Inc. | 857 | 26,318 | ||||||
Chemours Co. | 611 | 12,776 | ||||||
Dow, Inc. | 2,618 | 123,177 | ||||||
DuPont de Nemours, Inc. | 2,222 | 123,277 | ||||||
Eastman Chemical Co. | 545 | 42,575 | ||||||
Huntsman Corp. | 839 | 18,634 | ||||||
International Flavors & Fragrances, Inc. | 429 | 52,531 | ||||||
International Paper Co. | 1,675 | 67,905 | ||||||
LyondellBasell Industries NV | 1,087 | 76,623 | ||||||
Nucor Corp. | 1,338 | 60,023 | ||||||
Olin Corp. | 592 | 7,329 | ||||||
Reliance Steel & Aluminum Co. | 272 | 27,755 | ||||||
Southern Copper Corp. | 306 | 13,853 | ||||||
Steel Dynamics, Inc. | 880 | 25,194 | ||||||
Valvoline, Inc. | 643 | 12,243 | ||||||
WR Grace & Co. | 197 | 7,937 | ||||||
1,025,559 | ||||||||
Communications - 6.3% | ||||||||
AT&T, Inc. | 11,401 | 325,042 | ||||||
CenturyLink, Inc. | 5,254 | 53,013 | ||||||
Cisco Systems, Inc. | 7,871 | 310,039 | ||||||
Comcast Corp. | 8,786 | 406,440 | ||||||
Corning, Inc. | 2,970 | 96,258 | ||||||
Interpublic Group of Cos., Inc. | 1,480 | 24,672 | ||||||
John Wiley & Sons, Inc. | 186 | 5,898 | ||||||
Juniper Networks, Inc. | 1,360 | 29,240 | ||||||
Nexstar Media Group, Inc. | 179 | 16,097 | ||||||
NortonLifeLock, Inc. | 2,257 | 47,036 | ||||||
Omnicom Group, Inc. | 1,167 | 57,766 | ||||||
Sinclair Broadcast Group, Inc. | 243 | 4,673 | ||||||
Telephone & Data Systems, Inc. | 602 | 11,101 | ||||||
Verizon Communications, Inc. | 6,522 | 387,994 | ||||||
ViacomCBS, Inc. | 1,182 | 33,108 | ||||||
1,808,377 | ||||||||
Consumer, Cyclical - 8.7% | ||||||||
Best Buy Co., Inc. | 875 | 97,379 | ||||||
Cummins, Inc. | 650 | 137,254 | ||||||
Fastenal Co. | 2,280 | 102,805 | ||||||
Genuine Parts Co. | 606 | 57,673 | ||||||
Hanesbrands, Inc. | 1,413 | 22,255 | ||||||
Hasbro, Inc. | 458 | 37,886 | ||||||
Home Depot, Inc. | 1,476 | 409,900 | ||||||
International Game Technology Plc | 330 | 3,673 | ||||||
Leggett & Platt, Inc. | 526 | 21,655 | ||||||
McDonald's Corp. | 1,874 | 411,324 | ||||||
MSC Industrial Direct Co., Inc. | 174 | 11,011 | ||||||
Newell Brands, Inc. | 1,299 | 22,291 | ||||||
Nu Skin Enterprises, Inc. | 229 | 11,470 | ||||||
Polaris, Inc. | 218 | 20,566 | ||||||
Starbucks Corp. | 4,534 | 389,561 | ||||||
Target Corp. | 1,953 | 307,441 | ||||||
VF Corp. | 1,120 | 78,680 | ||||||
Walgreens Boots Alliance, Inc. | 4,240 | 152,301 | ||||||
Watsco, Inc. | 137 | 31,906 | ||||||
Whirlpool Corp. | 219 | 40,272 | ||||||
Williams-Sonoma, Inc. | 298 | 26,951 | ||||||
Wyndham Destinations, Inc. | 347 | 10,674 | ||||||
Yum! Brands, Inc. | 1,110 | 101,343 | ||||||
2,506,271 | ||||||||
Consumer, Non-cyclical - 28.4% | ||||||||
AbbVie, Inc. | 4,005 | 350,798 | ||||||
Altria Group, Inc. | 8,845 | 341,771 | ||||||
Amgen, Inc. | 1,678 | 426,480 | ||||||
Archer-Daniels-Midland Co. | 2,214 | 102,929 | ||||||
Automatic Data Processing, Inc. | 1,787 | 249,269 | ||||||
Bristol-Myers Squibb Co. | 6,167 | 371,808 | ||||||
Bunge Ltd. | 8,647 | 395,168 | ||||||
Campbell Soup Co. | 572 | 27,668 | ||||||
Cardinal Health, Inc. | 1,132 | 53,147 | ||||||
Clorox Co. | 433 | 91,004 | ||||||
Coca-Cola Co. | 7,600 | 375,212 | ||||||
Colgate-Palmolive Co. | 3,284 | 253,361 | ||||||
Conagra Brands, Inc. | 1,733 | 61,885 | ||||||
CVS Health Corp. | 4,814 | 281,138 | ||||||
Eli Lilly & Co. | 2,539 | 375,823 | ||||||
Flowers Foods, Inc. | 722 | 17,566 | ||||||
General Mills, Inc. | 2,361 | 145,626 | ||||||
Gilead Sciences, Inc. | 4,341 | 274,308 | ||||||
H&R Block, Inc. | 1,015 | 16,534 | ||||||
Hershey Co. | 578 | 82,850 | ||||||
Ingredion, Inc. | 253 | 19,147 | ||||||
JM Smucker Co. | 676 | 78,092 | ||||||
Johnson & Johnson | 2,581 | 384,259 | ||||||
Kellogg Co. | 1,656 | 106,961 | ||||||
Keurig Dr Pepper, Inc. | 1,017 | 28,069 | ||||||
Kimberly-Clark Corp. | 1,427 | 210,711 | ||||||
Kraft Heinz Co. | 2,186 | 65,471 | ||||||
Kroger Co. | 3,279 | 111,191 | ||||||
ManpowerGroup, Inc. | 354 | 25,959 | ||||||
Medtronic Plc | 3,739 | 388,557 | ||||||
Merck & Co., Inc. | 4,570 | 379,081 | ||||||
Mondelez International, Inc. | 5,590 | 321,145 | ||||||
PepsiCo, Inc. | 2,865 | 397,089 | ||||||
Pfizer, Inc. | 10,354 | 379,992 | ||||||
Philip Morris International, Inc. | 4,876 | 365,651 | ||||||
Procter & Gamble Co. | 3,182 | 442,266 | ||||||
Robert Half International, Inc. | 438 | 23,188 | ||||||
Spectrum Brands Holdings, Inc. | 166 | 9,489 | ||||||
Sysco Corp. | 1,698 | 105,650 | ||||||
Tyson Foods, Inc. | �� | 1,212 | 72,090 | |||||
8,208,403 | ||||||||
Energy - 5.6% | ||||||||
Baker Hughes a GE Co. | 2,962 | 39,365 | ||||||
Cabot Oil & Gas Corp. | 1,753 | 30,432 | ||||||
Chevron Corp. | 3,670 | 264,240 | ||||||
Cimarex Energy Co. | 351 | 8,540 | ||||||
ConocoPhillips | 4,209 | 138,224 | ||||||
Devon Energy Corp. | 1,413 | 13,367 | ||||||
Diamondback Energy, Inc. | 559 | 16,837 | ||||||
EOG Resources, Inc. | 2,085 | 74,935 | ||||||
Equitrans Midstream Corp. | 719 | 6,083 | ||||||
Exxon Mobil Corp. | 6,921 | 237,598 | ||||||
Helmerich & Payne, Inc. | 390 | 5,714 | ||||||
HollyFrontier Corp. | 585 | 11,530 | ||||||
Kinder Morgan, Inc. | 7,313 | 90,169 | ||||||
Marathon Petroleum Corp. | 5,094 | 149,458 | ||||||
Murphy Oil Corp. | 497 | 4,433 | ||||||
ONEOK, Inc. | 2,648 | 68,795 | ||||||
Phillips 66 | 2,811 | 145,722 | ||||||
Pioneer Natural Resources Co. | 627 | 53,916 | ||||||
Schlumberger Ltd. | 4,697 | 73,085 | ||||||
Valero Energy Corp. | 2,288 | 99,116 | ||||||
Williams Cos., Inc. | 4,473 | 87,894 | ||||||
1,619,453 | ||||||||
Financials - 18.0% | ||||||||
Aflac, Inc. | 3,381 | 122,899 | ||||||
Alexandria Real Estate Equities, Inc. | 150 | 24,000 | ||||||
Allstate Corp. | 1,001 | 94,234 | ||||||
Ally Financial, Inc. | 1,116 | 27,978 | ||||||
American Campus Communities, Inc. | 195 | 6,809 | ||||||
American Financial Group Inc. | 188 | 12,592 | ||||||
American International Group, Inc. | 2,152 | 59,245 | ||||||
Americold Realty Trust | 248 | 8,866 | ||||||
Ameriprise Financial, Inc. | 386 | 59,486 | ||||||
Apartment Investment & Management Co. | 216 | 7,284 | ||||||
Associated Banc-Corp | 472 | 5,957 | ||||||
Assurant, Inc. | 166 | 20,137 | ||||||
Assured Guaranty Ltd. | 241 | 5,177 | ||||||
AvalonBay Communities, Inc. | 200 | 29,868 | ||||||
Axis Capital Holdings Ltd. | 367 | 16,163 | ||||||
Bank of America Corp. | 13,289 | 320,132 | ||||||
Bank of Hawaii Corp. | 113 | 5,709 | ||||||
Bank of New York Mellon Corp. | 2,457 | 84,373 | ||||||
BANK OZK | 376 | 8,016 | ||||||
BankUnited, Inc. | 457 | 10,013 | ||||||
BlackRock, Inc. | 429 | 241,763 | ||||||
BOK Financial Corp. | 85 | 4,378 | ||||||
Boston Properties, Inc. | 191 | 15,337 | ||||||
Brandywine Realty Trust | 253 | 2,616 | ||||||
Camden Property Trust | 125 | 11,123 | ||||||
Capital One Financial Corp. | 1,203 | 86,448 | ||||||
Chubb Ltd. | 1,266 | 147,008 | ||||||
Cincinnati Financial Corp. | 424 | 33,059 | ||||||
CIT Group, Inc. | 228 | 4,038 | ||||||
Citigroup, Inc. | 6,009 | 259,048 | ||||||
Citizens Financial Group, Inc. | 1,279 | 32,333 | ||||||
CNA Financial Corp. | 72 | 2,159 | ||||||
Columbia Property Trust, Inc. | 163 | 1,778 | ||||||
Comerica, Inc. | 437 | 16,715 | ||||||
CoreSite Realty Corp. | 57 | 6,776 | ||||||
Corporate Office Properties Trust | 146 | 3,463 | ||||||
Cousins Properties, Inc. | 186 | 5,318 | ||||||
Crown Castle International Corp. | 536 | 89,244 | ||||||
CubeSmart | 289 | 9,338 | ||||||
Cullen/Frost Bankers, Inc. | 164 | 10,488 | ||||||
CyrusOne, Inc. | 140 | 9,804 | ||||||
Digital Realty Trust, Inc. | 333 | 48,871 | ||||||
Discover Financial Services | 937 | 54,140 | ||||||
Douglas Emmett, Inc. | 246 | 6,175 | ||||||
Duke Realty Corp. | 429 | 15,830 | ||||||
East West Bancorp, Inc. | 387 | 12,670 | ||||||
Eaton Vance Corp. | 282 | 10,758 | ||||||
Equitable Holdings, Inc. | 1,191 | 21,724 | ||||||
Equity LifeStyle Properties, Inc. | 236 | 14,467 | ||||||
Equity Residential | 450 | 23,099 | ||||||
Erie Indemnity Co. | 56 | 11,776 | ||||||
Essex Property Trust, Inc. | 99 | 19,878 | ||||||
Evercore, Inc. | 107 | 7,004 | ||||||
Everest Re Group Ltd. | 112 | 22,124 | ||||||
Extra Space Storage, Inc. | 171 | 18,295 | ||||||
Federal Realty Investment Trust | 113 | 8,299 | ||||||
Fidelity National Financial, Inc. | 836 | 26,175 | ||||||
Fifth Third Bancorp | 2,003 | 42,704 | ||||||
First American Financial Corp. | 291 | 14,815 | ||||||
First Hawaiian, Inc. | 376 | 5,441 | ||||||
First Horizon National Corp. | 888 | 8,374 | ||||||
FNB Corp. | 808 | 5,478 | ||||||
Franklin Resources, Inc. | 726 | 14,774 | ||||||
Gaming and Leisure Properties, Inc. | 260 | 9,616 | ||||||
Goldman Sachs Group Inc. | 964 | 193,735 | ||||||
Hanover Insurance Group Inc. | 118 | 10,995 | ||||||
Hartford Financial Services Group, Inc. | 949 | 34,980 | ||||||
Healthcare Trust of America, Inc. | 286 | 7,436 | ||||||
Healthpeak Properties, Inc. | 637 | 17,295 | ||||||
Highwoods Properties, Inc. | 141 | 4,733 | ||||||
Hudson Pacific Properties, Inc. | 193 | 4,232 | ||||||
Huntington Bancshares, Inc. | 2,835 | 25,997 | ||||||
Invesco Ltd. | 4,097 | 46,747 | ||||||
Invitation Homes, Inc. | 661 | 18,501 | ||||||
Iron Mountain, Inc. | 413 | 11,064 | ||||||
Janus Henderson Group Plc | 432 | 9,383 | ||||||
JBG SMITH Properties | 157 | 4,198 | ||||||
Jefferies Financial Group, Inc. | 1,001 | 18,018 | ||||||
JPMorgan Chase & Co. | 3,338 | 321,349 | ||||||
KeyCorp | 2,870 | 34,239 | ||||||
Kilroy Realty Corp. | 131 | 6,807 | ||||||
Lamar Advertising Co. | 113 | 7,477 | ||||||
Lazard Ltd. | 292 | 9,651 | ||||||
Life Storage, Inc. | 59 | 6,211 | ||||||
Lincoln National Corp. | 577 | 18,077 | ||||||
M&T Bank Corp. | 582 | 53,596 | ||||||
Medical Properties Trust, Inc. | 654 | 11,530 | ||||||
Mercury General Corp. | 84 | 3,475 | ||||||
MetLife, Inc. | 2,070 | 76,942 | ||||||
MGIC Investment Corp. | 970 | 8,594 | ||||||
Mid-America Apartment Communities, Inc. | 139 | 16,117 | ||||||
Morgan Stanley | 3,376 | 163,230 | ||||||
National Retail Properties, Inc. | 258 | 8,904 | ||||||
Navient Corp. | 776 | 6,557 | ||||||
New York Community Bancorp, Inc. | 1,110 | 9,180 | ||||||
Northern Trust Corp. | 587 | 45,768 | ||||||
Old Republic International Corp. | 817 | 12,043 | ||||||
Omega Healthcare Investors, Inc. | 343 | 10,269 | ||||||
OneMain Holdings, Inc. | 155 | 4,844 | ||||||
PacWest Bancorp | 273 | 4,663 | ||||||
Paramount Group, Inc. | 288 | 2,039 | ||||||
People's United Financial, Inc. | 1,373 | 14,156 | ||||||
PNC Financial Services Group, Inc. | 1,294 | 142,224 | ||||||
Popular, Inc. | 798 | 28,943 | ||||||
Principal Financial Group, Inc. | 800 | 32,216 | ||||||
Prologis, Inc. | 819 | 82,408 | ||||||
Prosperity Bancshares, Inc. | 266 | 13,787 | ||||||
Prudential Financial, Inc. | 1,173 | 74,509 | ||||||
Public Storage | 212 | 47,217 | ||||||
Rayonier, Inc. | 190 | 5,024 | ||||||
Realty Income Corp. | 448 | 27,216 | ||||||
Regency Centers Corp. | 237 | 9,011 | ||||||
Regions Financial Corp. | 2,843 | 32,780 | ||||||
Reinsurance Group of America, Inc. | 154 | 14,659 | ||||||
Santander Consumer USA Holdings, Inc. | 312 | 5,675 | ||||||
Simon Property Group, Inc. | 406 | 26,260 | ||||||
SL Green Realty Corp. | 103 | 4,776 | ||||||
Spirit Realty Capital, Inc. | 128 | 4,320 | ||||||
State Street Corp. | 1,088 | 64,551 | ||||||
STORE Capital Corp. | 307 | 8,421 | ||||||
Sun Communities, Inc. | 92 | 12,936 | ||||||
Synchrony Financial | 1,781 | 46,609 | ||||||
Synovus Financial Corp. | 590 | 12,490 | ||||||
T Rowe Price Group, Inc. | 663 | 85,010 | ||||||
TCF Financial Corp. | 392 | 9,157 | ||||||
Travelers Cos., Inc. | 790 | 85,470 | ||||||
Truist Financial Corp. | 3,897 | 148,281 | ||||||
UDR, Inc. | 413 | 13,468 | ||||||
Umpqua Holdings Corp. | 543 | 5,767 | ||||||
US Bancorp | 4,157 | 149,028 | ||||||
Ventas, Inc. | 486 | 20,393 | ||||||
VEREIT, Inc. | 1,335 | 8,678 | ||||||
VICI Properties, Inc. | 600 | 14,022 | ||||||
Virtu Financial, Inc. | 110 | 2,531 | ||||||
Vornado Realty Trust | 260 | 8,765 | ||||||
Webster Financial Corp. | 237 | 6,259 | ||||||
Weingarten Realty Investors | 141 | 2,391 | ||||||
Wells Fargo & Co. | 10,207 | 239,967 | ||||||
Welltower, Inc. | 478 | 26,333 | ||||||
Western Alliance Bancorp | 234 | 7,399 | ||||||
Western Union Co. | 1,727 | 37,010 | ||||||
Wintrust Financial Corp. | 155 | 6,208 | ||||||
WP Carey, Inc. | 245 | 15,964 | ||||||
Zions Bancorp NA | 473 | 13,821 | ||||||
5,208,645 | ||||||||
Industrial - 14.5% | ||||||||
3M Co. | 2,253 | 360,886 | ||||||
Avnet, Inc. | 387 | 10,000 | ||||||
Caterpillar, Inc. | 2,135 | 318,435 | ||||||
CH Robinson Worldwide, Inc. | 528 | 53,956 | ||||||
Crane Co. | 172 | 8,622 | ||||||
Eaton Corp Plc | 1,688 | 172,227 | ||||||
Emerson Electric Co. | 2,285 | 149,827 | ||||||
Energizer Holdings, Inc. | 219 | 8,572 | ||||||
Flowserve Corp. | 396 | 10,807 | ||||||
Garmin Ltd. | 403 | 38,229 | ||||||
General Dynamics Corp. | 989 | 136,907 | ||||||
Graphic Packaging Holding Co. | 1,139 | 16,049 | ||||||
Honeywell International, Inc. | 2,325 | 382,718 | ||||||
Hubbell, Inc. | 211 | 28,873 | ||||||
Huntington Ingalls Industries, Inc. | 165 | 23,224 | ||||||
Illinois Tool Works, Inc. | 1,363 | 263,345 | ||||||
Johnson Controls International Plc | 3,004 | 122,713 | ||||||
Lincoln Electric Holdings, Inc. | 251 | 23,102 | ||||||
Lockheed Martin Corp. | 866 | 331,920 | ||||||
MDU Resources Group, Inc. | 381 | 8,572 | ||||||
National Instruments Corp. | 485 | 17,314 | ||||||
Norfolk Southern Corp. | 1,003 | 214,632 | ||||||
nVent Electric Plc | 542 | 9,588 | ||||||
Packaging Corp of America | 331 | 36,096 | ||||||
Raytheon Technologies Corp. | 2,940 | 169,168 | ||||||
Ryder System, Inc. | 204 | 8,617 | ||||||
Snap-on, Inc. | 231 | 33,987 | ||||||
Sonoco Products Co. | 378 | 19,304 | ||||||
Timken Co. | 227 | 12,308 | ||||||
Trane Technologies Plc | 938 | 113,733 | ||||||
Trinity Industries, Inc. | 395 | 7,703 | ||||||
Union Pacific Corp. | 2,086 | 410,671 | ||||||
United Parcel Service, Inc. | 2,966 | 494,225 | ||||||
Waste Management, Inc. | 1,403 | 158,778 | ||||||
Westrock Co. | 899 | 31,231 | ||||||
4,206,339 | ||||||||
Technology - 8.9% | ||||||||
Amdocs Ltd. | 534 | 30,657 | ||||||
Analog Devices, Inc. | 1,189 | 138,804 | ||||||
Broadcom, Inc. | 1,193 | 434,634 | ||||||
Hewlett Packard Enterprise Co. | 5,480 | 51,347 | ||||||
HP, Inc. | 8,537 | 162,118 | ||||||
Intel Corp. | 5,950 | 308,091 | ||||||
International Business Machines Corp. | 2,791 | 339,581 | ||||||
Maxim Integrated Products, Inc. | 1,052 | 71,126 | ||||||
NetApp, Inc. | 965 | 42,305 | ||||||
Paychex, Inc. | 1,097 | 87,508 | ||||||
QUALCOMM, Inc. | 4,146 | 487,901 | ||||||
Texas Instruments, Inc. | 2,851 | 407,094 | ||||||
Xerox Holdings Corp. | 874 | 16,405 | ||||||
2,577,571 | ||||||||
Utilities - 5.2% | ||||||||
AES Corp. | 1,134 | 20,537 | ||||||
Alliant Energy Corp. | 415 | 21,435 | ||||||
Ameren Corp. | 388 | 30,683 | ||||||
American Electric Power Co., Inc. | 899 | 73,475 | ||||||
Atmos Energy Corp. | 229 | 21,890 | ||||||
Avangrid, Inc. | 91 | 4,592 | ||||||
CenterPoint Energy, Inc. | 812 | 15,712 | ||||||
CMS Energy Corp. | 507 | 31,135 | ||||||
Consolidated Edison, Inc. | 697 | 54,227 | ||||||
Dominion Energy, Inc. | 1,685 | 132,997 | ||||||
DTE Energy Co. | 358 | 41,184 | ||||||
Duke Energy Corp. | 1,440 | 127,526 | ||||||
Edison International | 711 | 36,147 | ||||||
Entergy Corp. | 327 | 32,219 | ||||||
Evergy, Inc. | 405 | 20,582 | ||||||
Eversource Energy | 554 | 46,287 | ||||||
Exelon Corp. | 1,689 | 60,399 | ||||||
FirstEnergy Corp. | 904 | 25,954 | ||||||
Hawaiian Electric Industries, Inc. | 177 | 5,884 | ||||||
IDACORP, Inc. | 87 | 6,951 | ||||||
National Fuel Gas Co. | 145 | 5,886 | ||||||
NextEra Energy, Inc. | 774 | 214,831 | ||||||
NiSource, Inc. | 707 | 15,554 | ||||||
NRG Energy, Inc. | 453 | 13,925 | ||||||
OGE Energy Corp. | 407 | 12,206 | ||||||
Pinnacle West Capital Corp. | 208 | 15,506 | ||||||
PPL Corp. | 1,507 | 41,006 | ||||||
Public Service Enterprise Group, Inc. | 902 | 49,529 | ||||||
Sempra Energy | 555 | 65,690 | ||||||
Southern Co. | 2,046 | 110,934 | ||||||
UGI Corp. | 379 | 12,499 | ||||||
Vistra Energy Corp. | 714 | 13,466 | ||||||
WEC Energy Group, Inc. | 567 | 54,942 | ||||||
Xcel Energy, Inc. | 846 | 58,383 | ||||||
1,494,173 | ||||||||
Total Common Stocks | ||||||||
(Cost $29,438,723) | 28,654,791 | |||||||
SHORT TERM INVESTMENTS - 0.6% | ||||||||
First American Treasury Obligations Fund - Class X, 0.056% (a) | 185,757 | 185,757 | ||||||
Total Short Term Investments | ||||||||
(Cost $185,757) | 185,757 | |||||||
TOTAL INVESTMENTS - 99.8% | ||||||||
(Cost $29,624,480) | 28,840,548 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2% | 45,203 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 28,885,751 |
(a) Seven-day yield as of September 30, 2020 | ||||||||
Glossary: | ||||||||
Ltd. - Private Limited Company | ||||||||
Plc. Public Limited Company |
PACIFIC GLOBAL ETFs | ||
PACIFIC GLOBAL US EQUITY INCOME ETF | ||
Portfolio Allocation | ||
September 30, 2020 (Unaudited) | ||
Asset Type Allocation | ||
Common Stocks | 99.2% | |
Short Term Investments | 0.6% | |
Total Investments | 99.8% | |
Other Assets in Excess of Liabilities | 0.2% | |
Net Assets | 100.0% | |
Sector Allocation | ||
Consumer, Non-cyclical | 28.4% | |
Financials | 18.0% | |
Industrial | 14.5% | |
Technology | 8.9% | |
Consumer, Cyclical | 8.7% | |
Communications | 6.3% | |
Energy | 5.6% | |
Utilities | 5.2% | |
Basic Materials | 3.6% | |
Short Term Investments | 0.6% | |
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, 2020 (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. | |||||
Market values for domestic and foreign fixed income securities are normally determined on the basis of valuations provided by independent pricing services. Vendors typically value such securities based on one or more inputs. These inputs may include executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, and fundamental data relating to the issuer. In addition, the model may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued principally using dealer quotations. These classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income securities. Securities that use similar valuation techniques and inputs as described before are categorized as Level 2 of the fair value hierarchy. To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3. Assets and liabilities may be transferred between levels. | |||||
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 by the applicable investment adviser or sub-adviser at their respective fair values in accordance with pricing procedures adopted by the Trust’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 Funds may cause the net asset value (“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 Funds’ 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, 2020, based on the inputs used to value them: |
Pacific Global US Equity Income ETF | ||||||||||||||||
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | $ | 28,654,791 | $ | - | $ | - | $ | 28,654,791 | ||||||||
Short Term Investments | 185,757 | - | - | 185,757 | ||||||||||||
Total | $ | 28,840,548 | $ | - | $ | - | $ | 28,840,548 |