PACIFIC GLOBAL ETFs | ||||||||
PACIFIC GLOBAL INTERNATIONAL EQUITY INCOME ETF | ||||||||
Portfolio of Investments | ||||||||
September 30, 2020 (Unaudited) | ||||||||
Security Description | Shares | Fair Value | ||||||
COMMON STOCKS - 98.2% | ||||||||
Basic Materials - 11.4% | ||||||||
Air Liquide SA | 1,572 | $ | 249,740 | |||||
Air Water, Inc. | 785 | 10,569 | ||||||
Akzo Nobel NV | 734 | 74,372 | ||||||
Anglo American Plc | 7,814 | 189,134 | ||||||
Arkema SA | 227 | 24,118 | ||||||
Asahi Kasei Corp. | 5,935 | 51,474 | ||||||
BASF SE | 2,587 | 157,663 | ||||||
BHP Group Ltd. | 14,007 | 357,158 | ||||||
BHP Group Plc | 10,771 | 229,852 | ||||||
Boliden AB | 1,183 | 35,229 | ||||||
Chr Hansen Holding A/S | 416 | 46,239 | ||||||
Covestro AG (b) | 524 | 26,018 | ||||||
Daicel Corp. | 1,081 | 7,759 | ||||||
Evonik Industries AG | 601 | 15,573 | ||||||
Fortescue Metals Group Ltd. | 11,882 | 138,721 | ||||||
Israel Chemicals Ltd. | 13,279 | 46,981 | ||||||
Koninklijke DSM NV | 615 | 101,381 | ||||||
Kuraray Co. Ltd. | 1,484 | 14,324 | ||||||
Mitsubishi Chemical Holdings Corp. | 5,904 | 33,908 | ||||||
Mitsubishi Gas Chemical Co., Inc. | 569 | 10,499 | ||||||
Mitsui Chemicals, Inc. | 697 | 16,760 | ||||||
Nitto Denko Corp. | 788 | 51,106 | ||||||
Novozymes A/S | 803 | 50,571 | ||||||
Oji Holdings Corp. | 4,023 | 18,386 | ||||||
Rio Tinto Ltd. | 2,756 | 186,186 | ||||||
Rio Tinto Plc | 6,936 | 416,663 | ||||||
Solvay SA | 389 | 33,504 | ||||||
South32 Ltd. | 36,225 | 52,930 | ||||||
Sumitomo Chemical Co. Ltd. | 6,301 | 20,732 | ||||||
Sumitomo Metal Mining Co. Ltd. | 842 | 25,907 | ||||||
Toray Industries, Inc. | 5,028 | 22,850 | ||||||
Tosoh Corp. | 976 | 15,779 | ||||||
UPM-Kymmene Oyj | 652 | 19,868 | ||||||
voestalpine AG | 363 | 9,576 | ||||||
Yara International ASA | 448 | 17,267 | ||||||
2,778,797 | ||||||||
Communications - 5.8% | ||||||||
Bollore SA | 1,854 | 6,930 | ||||||
Dentsu, Inc. | 528 | 15,495 | ||||||
Deutsche Telekom AG | 5,885 | 98,600 | ||||||
Elisa Oyj | 47 | 2,771 | ||||||
Hakuhodo DY Holdings, Inc. | 823 | 10,574 | ||||||
HKT Trust & HKT Ltd. | 34,631 | 45,847 | ||||||
KDDI Corp. | 4,052 | 102,044 | ||||||
Koninklijke KPN NV | 7,323 | 17,232 | ||||||
Nippon Telegraph & Telephone Corp. * | 2,968 | 60,505 | ||||||
NTT DOCOMO, Inc. | 2,978 | 109,700 | ||||||
Orange SA | 4,724 | 49,206 | ||||||
PCCW Ltd. | 28,789 | 17,162 | ||||||
Pearson Plc | 3,815 | 27,036 | ||||||
Proximus SADP | 430 | 7,852 | ||||||
Publicis Groupe SA | 811 | 26,225 | ||||||
SES SA | 2,083 | 14,790 | ||||||
Singapore Telecommunications Ltd. | 51,977 | 80,723 | ||||||
SoftBank Corp. | 4,368 | 48,768 | ||||||
Spark New Zealand Ltd. | 5,255 | 16,339 | ||||||
Swisscom AG | 115 | 61,005 | ||||||
Tele2 AB | 1,194 | 16,905 | ||||||
Telecom Italia SpA | 16,668 | 6,738 | ||||||
Telecom Italia SpA/Milano | 16,342 | 6,553 | ||||||
Telefonaktiebolaget LM Ericsson | 4,831 | 53,015 | ||||||
Telefonica Deutschland Holding AG | 1,782 | 4,574 | ||||||
Telefonica SA | 11,196 | 38,553 | ||||||
Telenet Group Holding NV | 51 | 1,981 | ||||||
Telenor ASA | 2,080 | 34,888 | ||||||
Telia Co. AB | 6,248 | 25,708 | ||||||
Telstra Corp Ltd. | 19,097 | 38,025 | ||||||
Trend Micro, Inc. | 616 | 37,440 | ||||||
Vivendi SA | 1,742 | 48,610 | ||||||
Vodafone Group Plc | 133,887 | 177,392 | ||||||
Wolters Kluwer NV | 1,148 | 98,041 | ||||||
1,407,227 | ||||||||
Consumer, Cyclical - 11.2% | ||||||||
ABC-Mart, Inc. | 161 | 8,350 | ||||||
Aisin Seiki Co. Ltd. | 698 | 22,171 | ||||||
Bandai Namco Holdings, Inc. | 900 | 65,615 | ||||||
Bayerische Motoren Werke AG | 1,138 | 82,711 | ||||||
Bridgestone Corp. | 2,608 | 82,025 | ||||||
Cie Financiere Richemont SA | 4,419 | 296,023 | ||||||
Cie Generale des Etablissements Michelin SCA | 766 | 82,374 | ||||||
Continental AG | 383 | 41,528 | ||||||
Daiwa House Industry Co Ltd. | 1,178 | 30,130 | ||||||
Denso Corp. | 1,929 | 84,081 | ||||||
Genting Singapore Ltd. | 54,700 | 26,848 | ||||||
Hino Motors Ltd. | 1,369 | 8,814 | ||||||
Honda Motor Co. Ltd. | 7,400 | 173,554 | ||||||
Iida Group Holdings Co. Ltd. | 709 | 14,272 | ||||||
Isuzu Motors Ltd. | 2,540 | 22,095 | ||||||
ITOCHU Corp. | 6,205 | 157,971 | ||||||
Jardine Cycle & Carriage Ltd. | 900 | 11,861 | ||||||
JTEKT Corp. | 1,156 | 8,988 | ||||||
Lawson, Inc. | 308 | 14,660 | ||||||
Marubeni Corp. | 7,363 | 41,505 | ||||||
Marui Group Co Ltd. | 908 | 17,314 | ||||||
Mitsubishi Corp. | 6,102 | 145,368 | ||||||
Mitsui & Co. Ltd. | 7,670 | 131,124 | ||||||
NGK Insulators Ltd. | 1,193 | 16,911 | ||||||
NGK Spark Plug Co. Ltd. | 748 | 12,979 | ||||||
Nintendo Co Ltd. | 250 | 141,421 | ||||||
Panasonic Corp. | 10,077 | 84,923 | ||||||
Pandora A/S | 437 | 31,499 | ||||||
Sega Sammy Holdings, Inc. | 824 | 9,985 | ||||||
Sekisui Chemical Co. Ltd. | 1,799 | 28,606 | ||||||
Sekisui House Ltd. | 3,022 | 53,225 | ||||||
Shimamura Co Ltd. | 107 | 10,379 | ||||||
Sodexo SA | 370 | 26,471 | ||||||
Subaru Corp. | 2,826 | 54,449 | ||||||
Sumitomo Corp. | 5,435 | 64,855 | ||||||
Sumitomo Electric Industries Ltd. | 3,586 | 40,088 | ||||||
Sumitomo Rubber Industries Ltd. | 746 | 6,883 | ||||||
Swatch Group AG | 324 | 14,563 | ||||||
Swatch Group AG | 246 | 57,397 | ||||||
Teijin Ltd. | 924 | 14,272 | ||||||
Toyoda Gosei Co. Ltd. | 270 | 6,157 | ||||||
Toyota Industries Corp. | 623 | 39,224 | ||||||
Toyota Motor Corp. | 5,240 | 344,415 | ||||||
Toyota Tsusho Corp. | 934 | 26,054 | ||||||
USS Co. Ltd. | 978 | 17,424 | ||||||
Volkswagen AG | 111 | 19,417 | ||||||
Yamaha Motor Co. Ltd. | 1,247 | 17,996 | ||||||
Yokohama Rubber Co. Ltd. | 594 | 8,398 | ||||||
2,717,373 | ||||||||
Consumer, Non-cyclical - 24.6% | ||||||||
Adecco Group AG | 1,300 | 68,709 | ||||||
Alfresa Holdings Corp. | 907 | 19,763 | ||||||
Amadeus IT Group SA * | 1,911 | 106,628 | ||||||
Anheuser-Busch InBev SA/NV | 1,618 | 87,690 | ||||||
Asahi Group Holdings Ltd. | 1,776 | 61,566 | ||||||
Astellas Pharma, Inc. | 8,701 | 129,280 | ||||||
Bayer AG | 3,475 | 217,200 | ||||||
Benesse Holdings, Inc. | 300 | 7,695 | ||||||
British American Tobacco Plc | 11,781 | 422,227 | ||||||
Carlsberg A/S | 532 | 71,716 | ||||||
Carrefour SA | 2,542 | 40,727 | ||||||
Coca-Cola Amatil Ltd. | 4,542 | 30,906 | ||||||
Coca-Cola European Partners Plc | 931 | 36,132 | ||||||
Colruyt SA | 134 | 8,698 | ||||||
Dai Nippon Printing Co Ltd. | 1,095 | 22,073 | ||||||
Dairy Farm International Holdings Ltd. | 3,187 | 12,015 | ||||||
Danone SA | 2,604 | 168,591 | ||||||
Edenred | 987 | 44,437 | ||||||
GlaxoSmithKline Plc | 22,636 | 424,107 | ||||||
H Lundbeck A/S | 360 | 11,877 | ||||||
ICA Gruppen AB | 413 | 20,996 | ||||||
Imperial Brands Plc | 5,682 | 100,262 | ||||||
Japan Tobacco, Inc. | 5,477 | 99,709 | ||||||
Kirin Holdings Co. Ltd. | 3,775 | 70,639 | ||||||
Koninklijke Ahold Delhaize NV | 4,661 | 137,987 | ||||||
Medipal Holdings Corp. | 800 | 15,968 | ||||||
METRO AG | 583 | 5,824 | ||||||
NH Foods Ltd. | 419 | 18,633 | ||||||
Nisshin Seifun Group, Inc. | 900 | 14,226 | ||||||
Novartis AG | 6,776 | 587,884 | ||||||
Novo Nordisk A/S | 5,230 | 361,864 | ||||||
Orion Oyj | 69 | 3,128 | ||||||
Orkla ASA | 2,364 | 23,920 | ||||||
Otsuka Holdings Co Ltd. | 1,785 | 75,283 | ||||||
Pernod Ricard SA | 890 | 142,071 | ||||||
Pola Orbis Holdings, Inc. | 440 | 8,273 | ||||||
Roche Holding AG | 1,659 | 567,650 | ||||||
Ryman Healthcare Ltd. | 1,367 | 12,733 | ||||||
Sanofi | 3,853 | 385,476 | ||||||
Seven & i Holdings Co. Ltd. | 3,459 | 106,592 | ||||||
SGS SA | 57 | 152,796 | ||||||
Suntory Beverage & Food Ltd. | 600 | 22,472 | ||||||
Swedish Match AB | 289 | 23,647 | ||||||
Takeda Pharmaceutical Co. Ltd. | 7,234 | 256,807 | ||||||
Tesco Plc | 39,737 | 108,959 | ||||||
Toppan Printing Co Ltd. | 1,557 | 21,820 | ||||||
Transurban Group | 17,378 | 175,627 | ||||||
Treasury Wine Estates Ltd. | 6,337 | 40,578 | ||||||
Unilever NV | 5,109 | 308,489 | ||||||
WH Group Ltd. (b) | 92,500 | 74,954 | ||||||
Wm Morrison Supermarkets Plc | 24,085 | 52,880 | ||||||
5,990,184 | ||||||||
Energy - 5.7% | ||||||||
APA Group | 5,258 | 38,903 | ||||||
BP Plc | 100,956 | 293,366 | ||||||
Eni SpA | 9,643 | 75,615 | ||||||
Equinor ASA | 3,358 | 47,809 | ||||||
Galp Energia SGPS SA | 2,101 | 19,490 | ||||||
Idemitsu Kosan Co. Ltd. | 846 | 17,985 | ||||||
Inpex Corp. | 4,720 | 25,219 | ||||||
JXTG Holdings, Inc. | 14,420 | 51,273 | ||||||
Koninklijke Vopak NV | 231 | 13,016 | ||||||
Lundin Petroleum AB | 827 | 16,483 | ||||||
Oil Search Ltd. | 8,614 | 16,288 | ||||||
OMV AG * | 300 | 8,231 | ||||||
Repsol SA | 5,701 | 38,247 | ||||||
Royal Dutch Shell Plc - Class A | 17,662 | 219,675 | ||||||
Royal Dutch Shell Plc - Class B | 17,307 | 209,967 | ||||||
Total SA | 6,727 | 230,304 | ||||||
Woodside Petroleum Ltd. | 5,855 | 73,724 | ||||||
1,395,595 | ||||||||
Financials - 13.6% | ||||||||
3i Group Plc | 2,329 | 29,950 | ||||||
ABN AMRO Bank NV (b) | 642 | 5,383 | ||||||
Admiral Group Plc | 694 | 23,382 | ||||||
Aegon NV | 2,641 | 6,874 | ||||||
Aeon Mall Co. Ltd. | 220 | 3,079 | ||||||
Allianz SE | 551 | 105,702 | ||||||
Aozora Bank Ltd. | 242 | 4,000 | ||||||
Assicurazioni Generali SpA | 2,350 | 33,132 | ||||||
Aviva Plc | 11,248 | 41,466 | ||||||
AXA SA | 3,053 | 56,470 | ||||||
Azrieli Group Ltd. | 218 | 9,736 | ||||||
Baloise Holding AG | 154 | 22,656 | ||||||
Bank Hapoalim BM | 2,516 | 13,440 | ||||||
Bank Leumi Le-Israel BM | 5,487 | 24,154 | ||||||
Banque Cantonale Vaudoise | 102 | 10,366 | ||||||
BOC Hong Kong Holdings Ltd. | 22,897 | 60,270 | ||||||
CaixaBank SA | 5,795 | 12,318 | ||||||
CapitaLand Mall Trust | 18,586 | 26,278 | ||||||
Chiba Bank Ltd | 1,056 | 5,797 | ||||||
CK Asset Holdings Ltd. | 10,409 | 50,702 | ||||||
Commonwealth Bank of Australia | 5,959 | 271,496 | ||||||
Concordia Financial Group Ltd. | 1,865 | 6,455 | ||||||
Covivio | 102 | 7,187 | ||||||
Dai-ichi Life Holdings, Inc. | 1,823 | 25,531 | ||||||
Daito Trust Construction Co. Ltd. | 76 | 6,716 | ||||||
Daiwa House REIT Investment Corp. | 8 | 20,405 | ||||||
Daiwa Securities Group, Inc. | 1,746 | 7,296 | ||||||
DBS Group Holdings Ltd. | 7,082 | 103,295 | ||||||
Dexus | 1,827 | 11,633 | ||||||
EQT AB | 98 | 1,906 | ||||||
Fukuoka Financial Group, Inc. | 308 | 5,152 | ||||||
Gecina SA | 93 | 12,289 | ||||||
GLP J-Reit | 3 | 4,631 | ||||||
GPT Group | 6,210 | 17,347 | ||||||
Groupe Bruxelles Lambert SA | 159 | 14,351 | ||||||
Hang Lung Properties Ltd. | 5,815 | 14,691 | ||||||
Hang Seng Bank Ltd. | 5,445 | 80,164 | ||||||
Hannover Rueck SE | 79 | 12,245 | ||||||
Henderson Land Development Co Ltd. | 4,495 | 16,559 | ||||||
Hongkong Land Holdings Ltd. | 4,727 | 17,537 | ||||||
Hulic Co Ltd. | 548 | 5,113 | ||||||
ICADE | 79 | 4,439 | ||||||
Isracard Ltd. | 1 | 2 | ||||||
Israel Discount Bank Ltd. | 2,596 | 7,002 | ||||||
Japan Exchange Group, Inc. | 582 | 16,213 | ||||||
Japan Post Insurance Co Ltd. | 422 | 6,606 | ||||||
Japan Prime Realty Investment Corp. | 1 | 3,096 | ||||||
Japan Real Estate Investment Corp. | 1 | 5,101 | ||||||
Japan Retail Fund Investment Corp. | 8 | 12,319 | ||||||
Jardine Matheson Holdings Ltd. | 1,047 | 41,545 | ||||||
Julius Baer Group Ltd. | 479 | 20,423 | ||||||
Kerry Properties Ltd. | 1,891 | 4,826 | ||||||
Klepierre SA | 421 | 5,916 | ||||||
Legal & General Group Plc | 20,497 | 49,816 | ||||||
Lendlease Group | 1,185 | 9,362 | ||||||
Link REIT | 8,258 | 67,129 | ||||||
Macquarie Group Ltd. | 745 | 63,803 | ||||||
Mapfre SA | 2,481 | 3,889 | ||||||
Mebuki Financial Group, Inc. | 1,848 | 4,170 | ||||||
Medibank Pvt Ltd. | 9,329 | 16,772 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 1,240 | 9,738 | ||||||
Mirvac Group | 11,362 | 17,741 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 20,846 | 82,246 | ||||||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 550 | 2,529 | ||||||
Mitsui Fudosan Co Ltd. | 900 | 15,587 | ||||||
Mizrahi Tefahot Bank Ltd. | 316 | 5,603 | ||||||
Mizuho Financial Group, Inc. | 4,117 | 51,163 | ||||||
MS&AD Insurance Group Holdings, Inc. | 786 | 21,046 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 190 | 48,251 | ||||||
National Australia Bank Ltd. | 10,803 | 137,343 | ||||||
New World Development Co Ltd. | 6,236 | 30,174 | ||||||
Nippon Building Fund, Inc. | 1 | 5,651 | ||||||
Nippon Prologis REIT, Inc. | 8 | 26,966 | ||||||
NN Group NV | 456 | 17,135 | ||||||
Nomura Holdings, Inc. | 4,070 | 18,470 | ||||||
Nomura Real Estate Holdings, Inc. | 274 | 5,180 | ||||||
Nomura Real Estate Master Fund, Inc. | 8 | 10,013 | ||||||
ORIX Corp. | 1,479 | 18,301 | ||||||
Orix JREIT, Inc. * | 8 | 12,235 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 13,309 | 82,094 | ||||||
Pacific Century Premium Developments Ltd. | 3,109 | 814 | ||||||
Partners Group Holding AG | 41 | 37,730 | ||||||
Prudential Plc | 9,299 | 133,069 | ||||||
QBE Insurance Group Ltd. | 4,911 | 30,286 | ||||||
Raiffeisen Bank International AG | 189 | 2,896 | ||||||
Resona Holdings, Inc. | 3,592 | 12,179 | ||||||
Sampo Oyj | 229 | 9,072 | ||||||
SBI Holdings, Inc. | 286 | 7,357 | ||||||
Schroders Plc | 299 | 10,398 | ||||||
Seven Bank Ltd. | 1,166 | 2,819 | ||||||
Shizuoka Bank Ltd. | 1,241 | 8,543 | ||||||
Sino Land Co. Ltd. | 9,056 | 10,517 | ||||||
Sompo Holdings, Inc. | 616 | 21,196 | ||||||
Standard Life Aberdeen Plc | 5,419 | 15,803 | ||||||
Stockland | 6,910 | 18,708 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 2,266 | 62,685 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 616 | 16,310 | ||||||
Sun Hung Kai Properties Ltd. | 6,106 | 77,841 | ||||||
Suncorp Group Ltd. | 4,318 | 26,134 | ||||||
Suntec Real Estate Investment Trust | 13,270 | 14,096 | ||||||
Swire Pacific Ltd. | 1,410 | 6,768 | ||||||
Swire Properties Ltd. | 4,756 | 12,519 | ||||||
Swiss Life Holding AG | 107 | 40,486 | ||||||
Swiss Prime Site AG | 244 | 22,147 | ||||||
Swiss Re AG | 931 | 69,018 | ||||||
T&D Holdings, Inc. | 1,122 | 10,979 | ||||||
Tokio Marine Holdings, Inc. | 1,110 | 48,414 | ||||||
Tokyo Century Corp. | 44 | 2,382 | ||||||
Tokyu Fudosan Holdings Corp. | 1,228 | 5,251 | ||||||
Tryg A/S | 239 | 7,543 | ||||||
UBS Group AG | 8,167 | 91,331 | ||||||
United Overseas Bank Ltd. | 4,100 | 57,158 | ||||||
United Urban Investment Corp. | 8 | 8,852 | ||||||
Vicinity Centres | 10,460 | 10,301 | ||||||
Vonovia SE | 736 | 50,550 | ||||||
Wendel SE | 28 | 2,543 | ||||||
Wharf Real Estate Investment Co. Ltd. | 4,322 | 17,567 | ||||||
Zurich Insurance Group AG | 475 | 165,390 | ||||||
3,314,701 | ||||||||
Industrial - 15.1% | ||||||||
ABB Ltd. | 16,122 | 410,467 | ||||||
ACS Actividades de Construccion y Servicios SA | 1,225 | 27,813 | ||||||
AGC, Inc. | 880 | 25,616 | ||||||
Amada Holdings Co. Ltd. | 1,750 | 16,295 | ||||||
AP Moller - Maersk A/S - Class B | 32 | 50,798 | ||||||
AP Moller - Maersk A/S - Class A | 16 | 23,522 | ||||||
Assa Abloy AB | 1,690 | 39,647 | ||||||
Atlas Copco AB - Class A | 1,126 | 53,912 | ||||||
Atlas Copco AB - Class B | 491 | 20,570 | ||||||
Aurizon Holdings Ltd. | 17,610 | 53,606 | ||||||
Brother Industries Ltd. | 1,204 | 19,019 | ||||||
Casio Computer Co Ltd. | 1,151 | 18,488 | ||||||
CK Hutchison Holdings Ltd. | 25,550 | 153,629 | ||||||
CK Infrastructure Holdings Ltd. | 5,651 | 26,359 | ||||||
CRH Plc | 4,408 | 159,542 | ||||||
Deutsche Post AG | 3,413 | 155,662 | ||||||
East Japan Railway Co. | 1,400 | 86,019 | ||||||
Elbit Systems Ltd. | 115 | 13,995 | ||||||
Epiroc AB - Class B | 458 | 6,377 | ||||||
Epiroc AB - Class A | 1,086 | 15,782 | ||||||
Ferrovial SA | 2,175 | 52,914 | ||||||
Fuji Electric Co Ltd. | 828 | 25,987 | ||||||
Hirose Electric Co. Ltd. | 154 | 19,757 | ||||||
Hitachi Ltd. | 4,442 | 149,225 | ||||||
HOCHTIEF AG | 87 | 6,778 | ||||||
JSR Corp. | 846 | 19,966 | ||||||
Kajima Corp. | 2,356 | 28,192 | ||||||
Kamigumi Co Ltd. | 823 | 16,138 | ||||||
Komatsu Ltd. | 4,143 | 90,744 | ||||||
Kone Oyj | 327 | 28,778 | ||||||
Kubota Corp. | 4,723 | 84,079 | ||||||
Kurita Water Industries Ltd. | 400 | 13,123 | ||||||
Kyocera Corp. | 1,491 | 84,782 | ||||||
Kyushu Railway Co. | 714 | 15,212 | ||||||
LafargeHolcim Ltd. | 3,505 | 159,790 | ||||||
Legrand SA | 986 | 78,819 | ||||||
Leonardo SpA | 1,678 | 9,837 | ||||||
LIXIL Group Corp. | 1,220 | 24,408 | ||||||
Maruichi Steel Tube Ltd. | 286 | 7,121 | ||||||
Mitsubishi Electric Corp. | 8,349 | 112,531 | ||||||
MTR Corp Ltd. | 14,666 | 72,383 | ||||||
Murata Manufacturing Co. Ltd. | 2,563 | 164,597 | ||||||
Nabtesco Corp. | 572 | 20,691 | ||||||
Nikon Corp. | 1,833 | 12,305 | ||||||
Nippon Express Co. Ltd. | 374 | 21,774 | ||||||
NSK Ltd. | 1,787 | 13,572 | ||||||
Obayashi Corp. | 2,929 | 26,523 | ||||||
Omron Corp. | 824 | 63,911 | ||||||
Poste Italiane SpA (b) | 1,064 | 9,441 | ||||||
Schneider Electric SE | 2,246 | 279,265 | ||||||
Seibu Holdings, Inc. | 1,000 | 10,714 | ||||||
Shimizu Corp. | 2,528 | 18,912 | ||||||
Siemens AG | 2,084 | 263,594 | ||||||
SKF AB | 1,578 | 32,720 | ||||||
Sumitomo Heavy Industries Ltd. | 650 | 15,050 | ||||||
Taiheiyo Cement Corp. | 419 | 10,624 | ||||||
Taisei Corp. | 990 | 33,324 | ||||||
TDK Corp. | 626 | 67,725 | ||||||
TOTO Ltd. | 828 | 37,881 | ||||||
Venture Corp Ltd. | 2,485 | 35,025 | ||||||
Wartsila OYJ Abp | 634 | 4,994 | ||||||
West Japan Railway Co. | 733 | 36,078 | ||||||
Yokogawa Electric Corp. | 1,161 | 18,329 | ||||||
3,674,731 | ||||||||
Technology - 4.8% | ||||||||
ASM Pacific Technology Ltd. | 5,294 | 53,828 | ||||||
Atos SE * | 404 | 32,589 | ||||||
Canon, Inc. | 4,615 | 76,424 | ||||||
Capgemini SE | 668 | 85,956 | ||||||
Computershare Ltd. | 4,362 | 38,179 | ||||||
FUJIFILM Holdings Corp. | 1,776 | 87,314 | ||||||
Fujitsu Ltd. | 869 | 118,157 | ||||||
NEC Corp. | 1,162 | 67,650 | ||||||
Nomura Research Institute Ltd. | 1,516 | 44,489 | ||||||
Otsuka Corp. | 523 | 26,679 | ||||||
Ricoh Co. Ltd. | 3,133 | 20,973 | ||||||
Rohm Co. Ltd. | 449 | 34,484 | ||||||
SAP SE | 1,752 | 272,708 | ||||||
SCSK Corp. | 200 | 11,132 | ||||||
Seiko Epson Corp. | 1,381 | 15,779 | ||||||
Tokyo Electron Ltd. | 703 | 182,174 | ||||||
1,168,515 | ||||||||
Utilities - 6.0% | ||||||||
AGL Energy Ltd. | 2,924 | 28,525 | ||||||
AusNet Services | 7,600 | 10,234 | ||||||
Chubu Electric Power Co., Inc. | 1,450 | 17,612 | ||||||
Chugoku Electric Power, Co. Inc. | 636 | 7,954 | ||||||
CLP Holdings Ltd. | 10,405 | 96,665 | ||||||
E.ON SE | 3,997 | 44,183 | ||||||
EDP - Energias de Portugal SA | 10,726 | 52,755 | ||||||
Electric Power Development Co. Ltd. | 396 | 6,094 | ||||||
Enagas SA | 1,111 | 25,655 | ||||||
Endesa SA | 772 | 20,664 | ||||||
Enel SpA | 23,418 | 203,673 | ||||||
Fortum Oyj | 340 | 6,886 | ||||||
HK Electric Investments & HK Electric Investments Ltd. | 14,408 | 14,873 | ||||||
Hong Kong & China Gas Co. Ltd. | 52,000 | 74,477 | ||||||
Iberdrola SA | 13,437 | 165,578 | ||||||
Kansai Electric Power Co., Inc. | 1,716 | 16,596 | ||||||
Kyushu Electric Power Co., Inc. | 858 | 7,786 | ||||||
Mercury NZ Ltd. | 1,513 | 5,105 | ||||||
Meridian Energy Ltd. | 3,253 | 10,653 | ||||||
National Grid Plc | 16,156 | 185,496 | ||||||
Naturgy Energy Group SA | 746 | 14,974 | ||||||
Origin Energy Ltd. | 7,760 | 23,900 | ||||||
Osaka Gas Co. Ltd. | 902 | 17,533 | ||||||
Power Assets Holdings Ltd. | 12,161 | 63,708 | ||||||
Red Electrica Corp SA | 1,048 | 19,678 | ||||||
Severn Trent Plc | 1,191 | 37,483 | ||||||
Siemens Energy AG * | 1,042 | 28,099 | ||||||
Snam SpA | 8,212 | 42,258 | ||||||
SSE Plc | 5,008 | 78,062 | ||||||
Suez | 719 | 13,324 | ||||||
Terna Rete Elettrica Nazionale SpA | 4,098 | 28,703 | ||||||
Tohoku Electric Power Co., Inc. | 1,160 | 11,615 | ||||||
Tokyo Gas Co. Ltd. | 838 | 19,117 | ||||||
Uniper SE | 355 | 11,471 | ||||||
United Utilities Group Plc | 3,390 | 37,435 | ||||||
Veolia Environnement SA | 1,135 | 24,512 | ||||||
1,473,336 | ||||||||
Total Common Stocks | ||||||||
(Cost $25,434,283) | 23,920,459 | |||||||
PREFERRED STOCKS - 0.6% | ||||||||
Consumer, Cyclical - 0.6% | ||||||||
Bayerische Motoren Werke AG | 187 | 10,239 | ||||||
Porsche Automobil Holding SE | 532 | 31,749 | ||||||
Volkswagen AG | 641 | 103,262 | ||||||
145,250 | ||||||||
Basic Materials - 0.0% ~ | ||||||||
Fuchs Petrolub SE | 191 | 9,714 | ||||||
Total Preferred Stocks | ||||||||
(Cost $179,761) | 154,964 | |||||||
SHORT TERM INVESTMENTS - 0.6% | ||||||||
First American Treasury Obligations Fund - Class X, 0.056% (a) | 158,370 | 158,370 | ||||||
Total Short Term Investments | ||||||||
(Cost $158,370) | 158,370 | |||||||
TOTAL INVESTMENTS - 99.4% | ||||||||
(Cost $25,772,414) | 24,233,793 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.6% | 135,840 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 24,369,633 |
(a) Seven-day yield as of September 30, 2020 | ||||||
(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional buyers. | ||||||
* Non income producing | ||||||
~ Represents less than 0.05% of net assets | ||||||
Glossary: | ||||||
Ltd. - Private Limited Company | ||||||
Plc - Public Limited Company | ||||||
Oyj - Public Limited Company | ||||||
SpA - Societa per Azioni | ||||||
SCA - Limited Partnership with share capital |
PACIFIC GLOBAL ETFs | |||
PACIFIC GLOBAL INTERNATIONAL EQUITY INCOME ETF | |||
Portfolio Allocations | |||
September 30, 2020 (Unaudited) | |||
Asset Type Allocation | |||
Common Stocks | 98.2% | ||
Short Term Investments | 0.6% | ||
Preferred Stocks | 0.6% | ||
Total Investments | 99.4% | ||
Other Assets in Excess of Liabilities | 0.6% | ||
Net Assets | 100.0% | ||
Sector Allocation | |||
Consumer, Non-cyclical | 24.6% | ||
Industrial | 15.1% | ||
Financials | 13.6% | ||
Consumer, Cyclical | 11.8% | ||
Basic Materials | 11.4% | ||
Utilities | 6.0% | ||
Communications | 5.8% | ||
Energy | 5.7% | ||
Technology | 4.8% | ||
Short Term Investments | 0.6% | ||
Total Investments | 99.4% | ||
Other Assets in Excess of Liabilities | 0.6% | ||
Net Assets | 100.0% | ||
Country Allocation | |||
Japan | 27.1% | ||
United Kingdom | 13.9% | ||
France | 11.7% | ||
Australia | 8.7% | ||
Germany | 8.1% | ||
Switzerland | 7.5% | ||
Hong Kong | 5.0% | ||
Sweden | 3.7% | ||
Netherlands | 2.7% | ||
Denmark | 2.2% | ||
Spain | 1.8% | ||
Belgium | 1.7% | ||
Singapore | 1.5% | ||
Italy | 0.7% | ||
Finland | 0.6% | ||
New Zealand | 0.6% | ||
United States | 0.5% | ||
Israel | 0.5% | ||
Norway | 0.3% | ||
Portugal | 0.3% | ||
Austria | 0.2% | ||
Ireland | 0.1% | ||
Luxembourg | 0.0% | ~ | |
Total Investments | 99.4% | ||
Other Assets in Excess of Liabilities | 0.6% | ||
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 International Equity Income ETF | ||||||||||||||||
Assets | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | $ | 23,920,459 | $ | - | $ | - | $ | 23,920,459 | ||||||||
Preferred Stocks | 154,964 | - | - | 154,964 | ||||||||||||
Short Term Investments | 158,370 | - | - | 158,370 | ||||||||||||
Total | $ | 24,233,793 | $ | - | $ | - | $ | 24,233,793 |