Infusive US Trust NPORT-P Infusive(r) Compounding Global Equities Etf (Mar 2021 report)

Schedule of Investments

Infusive^® Compounding Global Equities ETF

March 31, 2021 (unaudited)

	Number of Shares		Value
COMMON STOCKS — 100.0%
Belgium — 0.6%
Anheuser-Busch InBev SA/NV		3,960	$	250,163
Brazil — 0.5%
Ambev SA, ADR		43,158		118,253
Lojas Renner SA		11,120		83,927
				202,180
Canada — 0.8%
Lululemon Athletica, Inc.*		642		196,908
Restaurant Brands International, Inc.		2,226		144,751
				341,659
China — 11.3%
Alibaba Group Holding Ltd., ADR*		7,157		1,622,707
Angel Yeast Co., Ltd., Class A		600		5,052
Anhui Kouzi Distillery Co., Ltd., Class A		100		945
ANTA Sports Products Ltd.		9,865		160,897
Baidu, Inc., ADR*		1,534		333,722
By-health Co., Ltd., Class A		1,100		4,798
China Feihe Ltd., 144A		33,070		93,581
Chongqing Fuling Zhacai Group Co., Ltd., Class A		500		3,201
DaShenLin Pharmaceutical Group Co., Ltd., Class A		100		1,279
Foshan Haitian Flavouring & Food Co., Ltd., Class A		1,900		46,275
Fujian Sunner Development Co., Ltd., Class A		200		785
Guangdong Haid Group Co., Ltd., Class A		1,100		13,077
Haidilao International Holding Ltd., 144A		83		567
Jiangsu King's Luck Brewery JSC Ltd., Class A		900		6,728
Jiangsu Yanghe Brewery Joint-Stock Co., Ltd., Class A		1,000		25,102
JiuGui Liquor Co., Ltd., Class A		100		2,319
Jonjee Hi-Tech Industrial And Commercial Holding Co., Ltd., Class A		100		738
Juewei Food Co., Ltd., Class A		100		1,174
Kweichow Moutai Co., Ltd., Class A		500		153,097
Li Ning Co., Ltd.		3,027		19,662
Luzhou Laojiao Co., Ltd., Class A		1,000		34,296
Mango Excellent Media Co., Ltd., Class A		1,200		10,630
Muyuan Foods Co., Ltd., Class A		2,620		39,944
Perfect World Co., Ltd., Class A		200		603
Qianhe Condiment and Food Co., Ltd., Class A		200		1,128
Shanxi Xinghuacun Fen Wine Factory Co., Ltd., Class A		600		30,433
Shenzhou International Group Holdings Ltd.		1,736		35,973
Sichuan Swellfun Co., Ltd., Class A		100		1,090
Smoore International Holdings Ltd., 144A*		89		542
Tencent Holdings Ltd.		20,181		1,583,444
Tencent Music Entertainment Group, ADR*		5,559		113,904
Vipshop Holdings Ltd., ADR*		4,747		141,745
Wens Foodstuffs Group Co., Ltd., Class A		4,400		11,347
Wuhu Sanqi Interactive Entertainment Network Technology Group Co., Ltd., Class A		1,500		5,020
Wuliangye Yibin Co., Ltd., Class A		2,700		110,276
Yifeng Pharmacy Chain Co., Ltd., Class A		100		1,352
Yihai International Holding Ltd.*		49		507
Yum China Holdings, Inc.		987		58,440
Zhejiang Century Huatong Group Co., Ltd., Class A*		5,200		5,651
				4,682,031
France — 4.9%
Danone SA		3,261		224,210
Hermes International		91		100,963
Kering SA		392		271,179
L'Oreal SA		1,149		441,318
LVMH Moet Hennessy Louis Vuitton SE		1,203		803,229
Vivendi SE		5,258		173,032
				2,013,931
Germany — 0.5%
adidas AG*		638		199,608
HelloFresh SE*		180		13,455
				213,063
Italy — 0.4%
Ferrari NV		788		165,177
Japan — 2.0%
Fast Retailing Co., Ltd.		193		153,928
Kao Corp.		2,682		177,498
Kobe Bussan Co., Ltd.		2,316		62,144
Nintendo Co., Ltd.		549		307,092
Nitori Holdings Co., Ltd.		591		114,590
				815,252
Netherlands — 0.4%
Heineken NV		1,630		167,857
South Korea — 0.3%
NCSoft Corp.		149		114,934
Spain — 0.5%
Industria de Diseno Textil SA		6,342		209,451
Sweden — 0.4%
Hennes & Mauritz AB, Class B*		6,695		151,124
Switzerland — 3.3%
Nestle SA		12,018		1,345,137
United Kingdom — 4.2%
British American Tobacco PLC		10,624		406,611
Capri Holdings Ltd.*		4,238		216,138

Schedule of Investments

Infusive^® Compounding Global Equities ETF (Continued)

March 31, 2021 (unaudited)

	Number of Shares		Value
United Kingdom (Continued)
Diageo PLC	10,741	$	443,025
Unilever PLC	12,158		680,370
			1,746,144
United States — 69.9%
Alphabet, Inc., Class A*	918		1,893,393
Altria Group, Inc.	8,545		437,162
Amazon.com, Inc.*	972		3,007,446
Apple, Inc.	48,877		5,970,326
Beyond Meat, Inc.*	561		72,997
Boston Beer Co., Inc. (The), Class A*	104		125,453
Brown-Forman Corp., Class B	2,000		137,940
Campbell Soup Co.	1,817		91,341
Chipotle Mexican Grill, Inc.*	78		110,824
Clorox Co. (The)	744		143,503
Coca-Cola Co. (The)	17,054		898,916
Colgate-Palmolive Co.	3,901		307,516
Conagra Brands, Inc.	3,427		128,855
Constellation Brands, Inc., Class A	974		222,072
Dave & Buster's Entertainment, Inc.*	23		1,102
Domino's Pizza, Inc.	293		107,762
Estee Lauder Cos., Inc. (The), Class A	1,146		333,314
Etsy, Inc.*	904		182,310
Facebook, Inc., Class A*	7,072		2,082,916
Five Below, Inc.*	757		144,428
Foot Locker, Inc.	16		900
General Mills, Inc.	3,254		199,535
Hanesbrands, Inc.	65		1,278
Hershey Co. (The)	967		152,941
JM Smucker Co. (The)	967		122,355
Kellogg Co.	1,845		116,789
Keurig Dr Pepper, Inc.	3,354		115,277
Kimberly-Clark Corp.	1,692		235,273
Kraft Heinz Co. (The)	4,252		170,080
L Brands, Inc.*	185		11,444
Lamb Weston Holdings, Inc.	1,477		114,438
Mastercard, Inc., Class A	3,983		1,418,147
Match Group, Inc.*	1,463		200,987
McCormick & Co., Inc.	1,533		136,682
McDonald's Corp.	3,622		811,835
Molson Coors Beverage Co., Class B*	20		1,023
Mondelez International, Inc., Class A	6,558		383,840
Monster Beverage Corp.*	2,235		203,586
Netflix, Inc.*	1,825		952,030
PepsiCo, Inc.	5,963		843,466
Philip Morris International, Inc.	6,780		601,657
Planet Fitness, Inc., Class A*	1,399		108,143
RH*	241		143,780
Roku, Inc.*	791		257,684
Ross Stores, Inc.	2,024		242,698
Shake Shack, Inc., Class A*	1,218		137,354
Stamps.com, Inc.*	278		55,464
Starbucks Corp.	6,032		659,117
Take-Two Interactive Software, Inc.*	262		46,295
Tapestry, Inc.*	4,943		203,701
TJX Cos., Inc. (The)	5,713		377,915
Vail Resorts, Inc.*	432		125,997
Visa, Inc., Class A	7,103		1,503,918
Walt Disney Co. (The)*	7,598		1,401,983
Wendy's Co. (The)	3,491		70,728
Williams-Sonoma, Inc.	908		162,713
Wingstop, Inc.	480		61,042
Yum! Brands, Inc.	1,786		193,209
ZoomInfo Technologies, Inc., Class A*	22		1,076
			28,945,956
TOTAL INVESTMENTS — 100.0%
(Cost $33,760,683)		$	41,364,059
Other assets and liabilities, net — 0.0%(a)			17,595
NET ASSETS — 100.0%		$	41,381,654

*	Non-income producing security.
(a)	Amount is less than 0.05%.

ADR:	American Depositary Receipt
144A:	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

Schedule of Investments

Infusive^® Compounding Global Equities ETF (Continued)

March 31, 2021 (unaudited)

At March 31, 2021 the Infusive^® Compounding Global Equities ETF had the following sector diversification:

Sector Diversification	Market Value		As a % of Total Investments (excluding Cash Equivalents)
Consumer Discretionary	$	11,785,609	28 .5	%
Consumer Staples		11,201,663	27 .1	%
Communication Services		9,484,396	22 .9	%
Information Technology		8,892,391	21 .5	%
Total	$	41,364,059	100 .0	%