Schedule of Investments
Infusive® Compounding Global Equities ETF
March 31, 2022 (Unaudited)
| Number of Shares | Value | |||||||
| COMMON STOCKS — 99.7% | ||||||||
| Argentina — 0.7% | ||||||||
| MercadoLibre, Inc.* | 166 | $ | 197,454 | |||||
| Belgium — 1.3% | ||||||||
| Anheuser-Busch InBev SA/NV | 6,386 | 385,538 | ||||||
| Canada — 0.5% | ||||||||
| Lululemon Athletica, Inc.* | 407 | 148,649 | ||||||
| China — 20.3% | ||||||||
| Alibaba Group Holding Ltd.* | 68,846 | 985,473 | ||||||
| ANTA Sports Products Ltd. | 8,130 | 102,152 | ||||||
| China Tourism Group Duty Free Corp. Ltd., Class A | 6,800 | 176,071 | ||||||
| Foshan Haitian Flavouring & Food Co., Ltd., Class A | 13,070 | 179,988 | ||||||
| JD.Com, Inc., Class A* | 11,632 | 347,561 | ||||||
| Jiangsu Yanghe Brewery Joint-Stock Co., Ltd., Class A | 4,300 | 91,871 | ||||||
| Kuaishou Technology, 144A* | 20,651 | 195,662 | ||||||
| Kweichow Moutai Co., Ltd., Class A | 3,900 | 1,056,080 | ||||||
| Luzhou Laojiao Co., Ltd., Class A | 4,200 | 122,981 | ||||||
| Meituan, Class B, 144A* | 18,644 | 370,433 | ||||||
| Muyuan Foods Co., Ltd., Class A | 14,828 | 132,815 | ||||||
| NetEase, Inc. | 12,911 | 237,071 | ||||||
| Pinduoduo, Inc., ADR* | 4,561 | 182,942 | ||||||
| Shanxi Xinghuacun Fen Wine Factory Co., Ltd., Class A | 3,520 | 141,341 | ||||||
| Shenzhou International Group Holdings Ltd. | 4,268 | 57,114 | ||||||
| Tencent Holdings Ltd. | 22,042 | 1,053,211 | ||||||
| Wuliangye Yibin Co., Ltd., Class A | 11,600 | 283,344 | ||||||
| Yihai Kerry Arawana Holdings Co., Ltd., Class A | 14,300 | 111,686 | ||||||
| 5,827,796 | ||||||||
| France — 9.5% | ||||||||
| Danone SA | 2,025 | 112,723 | ||||||
| Hermes International | 335 | 481,391 | ||||||
| Kering SA | 354 | 226,756 | ||||||
| L'Oreal SA | 1,696 | 686,605 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 1,672 | 1,208,112 | ||||||
| 2,715,587 | ||||||||
| Italy — 0.5% | ||||||||
| Ferrari NV | 589 | 130,218 | ||||||
| Japan — 1.1% | ||||||||
| Nintendo Co., Ltd. | 428 | 217,465 | ||||||
| Z Holdings Corp. | 18,739 | 82,814 | ||||||
| 300,279 | ||||||||
| Netherlands — 1.7% | ||||||||
| Heineken NV | 830 | 79,957 | ||||||
| Prosus NV* | 6,648 | 359,304 | ||||||
| Universal Music Group NV | 1,755 | 47,246 | ||||||
| 486,507 | ||||||||
| South Africa — 0.6% | ||||||||
| Naspers Ltd., Class N | 1,591 | 181,188 | ||||||
| Spain — 0.5% | ||||||||
| Industria de Diseno Textil SA | 6,583 | 144,880 | ||||||
| Switzerland — 4.1% | ||||||||
| Nestle SA | 9,046 | 1,181,558 | ||||||
| United Kingdom — 3.6% | ||||||||
| British American Tobacco PLC | 6,955 | 292,530 | ||||||
| Diageo PLC | 7,069 | 359,591 | ||||||
| Unilever PLC | 8,330 | 378,934 | ||||||
| 1,031,055 | ||||||||
| United States — 55.3% | ||||||||
| Alphabet, Inc., Class A* | 500 | 1,390,675 | ||||||
| Altria Group, Inc. | 5,558 | 290,406 | ||||||
| Amazon.com, Inc.* | 409 | 1,333,320 | ||||||
| Apple, Inc. | 8,010 | 1,398,626 | ||||||
| Brown-Forman Corp., Class B | 1,433 | 96,040 | ||||||
| Chipotle Mexican Grill, Inc.* | 84 | 132,891 | ||||||
| Coca-Cola Co. (The) | 13,604 | 843,448 | ||||||
| Colgate-Palmolive Co. | 2,535 | 192,229 | ||||||
| Constellation Brands, Inc., Class A | 602 | 138,653 | ||||||
| DoorDash, Inc., Class A* | 929 | 108,869 | ||||||
| Estee Lauder Cos., Inc. (The), Class A | 1,097 | 298,735 | ||||||
| General Mills, Inc. | 1,777 | 120,338 | ||||||
| Hershey Co. (The) | 609 | 131,928 | ||||||
| Keurig Dr Pepper, Inc. | 4,213 | 159,673 | ||||||
| Kimberly-Clark Corp. | 978 | 120,450 | ||||||
| Kraft Heinz Co. (The) | 3,790 | 149,288 | ||||||
| Mastercard, Inc., Class A | 3,230 | 1,154,338 | ||||||
| Match Group, Inc.* | 952 | 103,521 | ||||||
| McDonald's Corp. | 2,265 | 560,089 | ||||||
| Meta Platforms, Inc., Class A* | 5,934 | 1,319,484 | ||||||
| Mondelez International, Inc., Class A | 4,204 | 263,927 | ||||||
| Monster Beverage Corp.* | 1,521 | 121,528 | ||||||
| Netflix, Inc.* | 1,445 | 541,283 | ||||||
| NIKE, Inc., Class B | 4,250 | 571,880 | ||||||
| PepsiCo, Inc. | 4,217 | 705,841 | ||||||
| Philip Morris International, Inc. | 5,037 | 473,176 | ||||||
| Ross Stores, Inc. | 1,025 | 92,721 | ||||||
| Snap, Inc., Class A* | 4,866 | 175,127 | ||||||
| Starbucks Corp. | 3,710 | 337,499 | ||||||
| TJX Cos., Inc. (The) | 3,381 | 204,821 | ||||||
| Twitter, Inc.* | 2,663 | 103,031 | ||||||
| Visa, Inc., Class A | 6,038 | 1,339,047 | ||||||
| Walt Disney Co. (The)* | 5,790 | 794,156 | ||||||
Schedule of Investments
Infusive® Compounding Global Equities ETF (Continued)
March 31, 2022 (Unaudited)
| Number of Shares | Value | |||||||
| United States (Continued) | ||||||||
| Yum! Brands, Inc. | 875 | $ | 103,714 | |||||
| 15,870,752 | ||||||||
| TOTAL COMMON STOCKS | ||||||||
| (Cost $28,975,843) | 28,601,461 | |||||||
| PREFERRED STOCKS — 0.1% | ||||||||
| Germany — 0.1% | ||||||||
| Porsche Automobil Holding SE | ||||||||
| (Cost $41,770) | 409 | 40,001 | ||||||
| Short-Term Investments — 0.1% | ||||||||
| MONEY MARKET FUND — 0.1% | ||||||||
| JPMorgan U.S. Government Money Market Fund, Capital Shares, 0.25%(a) | ||||||||
| (Cost $34,963) | 34,963 | 34,963 | ||||||
| TOTAL INVESTMENTS — 99.9% | ||||||||
| (Cost $29,052,576) | $ | 28,676,425 | ||||||
| Other assets and liabilities, net — 0.1% | 27,876 | |||||||
| NET ASSETS — 100.0% | $ | 28,704,301 | ||||||
| * | Non-income producing security. |
| (a) | Rate shown reflects the 7-day yield as of March 31, 2022. |
| ADR: | American Depositary Receipt |
| PLC: | Public Limited Company |
| 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. |
At March 31, 2022 the Infusive® Compounding Global Equities ETF had the following sector diversification:
| Sector Diversification | Market Value | As a % of Total Investments (excluding Cash Equivalents) | ||||||
| Consumer Staples | $ | 9,703,202 | 33.8% | |||||
| Consumer Discretionary | 8,785,503 | 30.7% | ||||||
| Communication Services | 6,260,746 | 21.9% | ||||||
| Information Technology | 3,892,011 | 13.6% | ||||||
| Total | $ | 28,641,462 | 100.0% | |||||
