Siren Large Cap Blend Index ETF | ||||||||
SCHEDULE OF INVESTMENTS | ||||||||
December 31, 2021 (Unaudited) | ||||||||
Number of Shares | Value | |||||||
COMMON STOCKS 99.6% | ||||||||
Communications 21.1% | ||||||||
28 | Alphabet, Inc. - Class A (a) | $ | 81,117 | |||||
267 | AT&T, Inc. | 6,568 | ||||||
42 | Charter Communications, Inc. - Class A (a) | 27,383 | ||||||
934 | Comcast Corp. - Class A | 47,008 | ||||||
205 | Meta Platforms, Inc. - Class A (a) | 68,952 | ||||||
100 | Netflix, Inc. (a) | 60,244 | ||||||
170 | T-Mobile US, Inc. (a) | 19,717 | ||||||
128 | The Walt Disney Co. (a) | 19,826 | ||||||
428 | Verizon Communications, Inc. | 22,239 | ||||||
353,054 | ||||||||
Consumer Discretionary 14.2% | ||||||||
17 | Amazon.com, Inc. (a) | 56,684 | ||||||
108 | JD.com, Inc. - ADR (a) | 7,567 | ||||||
3 | MercadoLibre, Inc. (a) | 4,045 | ||||||
173 | NIKE, Inc. - Class B | 28,834 | ||||||
140 | Pinduoduo, Inc. - ADR (a) | 8,162 | ||||||
235 | Starbucks Corp. | 27,488 | ||||||
61 | Tesla, Inc. (a) | 64,464 | ||||||
96 | The Home Depot, Inc. | 39,841 | ||||||
237,085 | ||||||||
Consumer Staples 8.5% | ||||||||
70 | Costco Wholesale Corp. | 39,739 | ||||||
178 | PepsiCo, Inc. | 30,920 | ||||||
500 | The Coca-Cola Co. | 29,605 | ||||||
110 | The Procter & Gamble Co. | 17,994 | ||||||
171 | Walmart, Inc. | 24,742 | ||||||
143,000 | ||||||||
Energy 1.5% | ||||||||
419 | Exxon Mobil Corp. | 25,639 | ||||||
Financials 9.6% | ||||||||
661 | Bank of America Corp. | 29,408 | ||||||
111 | Berkshire Hathaway, Inc. - Class B (a) | 33,189 | ||||||
181 | JPMorgan Chase & Co. | 28,661 | ||||||
76 | Mastercard, Inc. - Class A | 27,308 | ||||||
89 | PayPal Holdings, Inc. (a) | 16,783 | ||||||
117 | Visa, Inc. - Class A | 25,355 | ||||||
160,704 | ||||||||
Health Care 5.4% | ||||||||
44 | Amgen, Inc. | 9,899 | ||||||
140 | Johnson & Johnson | 23,950 | ||||||
264 | Merck & Co., Inc. | 20,233 | ||||||
72 | UnitedHealth Group, Inc. | 36,154 | ||||||
90,236 | ||||||||
Technology 39.3% | ||||||||
103 | Adobe, Inc. (a) | 58,407 | ||||||
269 | Advanced Micro Devices, Inc. (a) | 38,709 | ||||||
359 | Apple, Inc. | 63,748 | ||||||
225 | Applied Materials, Inc. | 35,406 | ||||||
42 | ASML Holding NV - ADR | 33,438 | ||||||
78 | Broadcom, Inc. | 51,902 | ||||||
554 | Cisco Systems, Inc. | 35,107 | ||||||
828 | Intel Corp. | 42,642 | ||||||
64 | Intuit, Inc. | 41,166 | ||||||
199 | Microsoft Corp. | 66,928 | ||||||
336 | NVIDIA Corp. | 98,821 | ||||||
149 | QUALCOMM, Inc. | 27,248 | ||||||
108 | Salesforce.com, Inc. (a) | 27,446 | ||||||
138 | Texas Instruments, Inc. | 26,009 | ||||||
64 | Zoom Video Communications, Inc. - Class A (a) | 11,770 | ||||||
658,747 | ||||||||
Total Common Stocks | ||||||||
(Cost $1,197,430) | 1,668,465 | |||||||
MONEY MARKET FUNDS 0.4% | ||||||||
6,506 | First American Government Obligations Fund, 0.026% (b) | 6,506 | ||||||
Total Money Market Funds | ||||||||
(Cost $6,506) | 6,506 | |||||||
Total Investments 100.0% | ||||||||
(Cost $1,203,936) | 1,674,971 | |||||||
Other Assets in Excess of Liabilities 0.0% | 178 | |||||||
TOTAL NET ASSETS 100.0% | $ | 1,675,149 | ||||||
(a) | Non-Income Producing. | |||||||
(b) | 7-day net yield at December 31, 2021. | |||||||
ADR - American Depositary Receipt |
Siren DIVCON Leaders Dividend ETF | ||||||||
SCHEDULE OF INVESTMENTS | ||||||||
December 31, 2021 (Unaudited) | ||||||||
Number of Shares | Value | |||||||
COMMON STOCKS 97.1% | ||||||||
Communications 1.2% | ||||||||
10,311 | Activision Blizzard, Inc. | $ | 685,991 | |||||
Consumer Discretionary 13.7% | ||||||||
8,309 | Best Buy Co., Inc. | 844,194 | ||||||
1,887 | Domino's Pizza, Inc. | 1,064,891 | ||||||
9,446 | DR Horton, Inc. | 1,024,419 | ||||||
3,325 | Lowe's Companies, Inc. | 859,536 | ||||||
5,028 | NIKE, Inc. - Class B | 837,962 | ||||||
1,582 | Pool Corp. | 895,412 | ||||||
2,090 | The Home Depot, Inc. | 867,371 | ||||||
3,662 | Tractor Supply Co. | 873,753 | ||||||
4,572 | Williams-Sonoma, Inc. | 773,256 | ||||||
8,040,794 | ||||||||
Consumer Staples 5.6% | ||||||||
9,545 | Colgate-Palmolive Co. | 814,570 | ||||||
3,459 | Dollar General Corp. | 815,736 | ||||||
3,409 | Target Corp. | 789,043 | ||||||
4,439 | The Hershey Co. | 858,861 | ||||||
3,278,210 | ||||||||
Energy 1.3% | ||||||||
8,546 | EOG Resources, Inc. | 759,141 | ||||||
Financials 14.3% | ||||||||
13,263 | Aflac, Inc. | 774,426 | ||||||
16,278 | Ally Financial, Inc. | 774,996 | ||||||
12,220 | Brown & Brown, Inc. | 858,822 | ||||||
7,167 | Discover Financial Services | 828,255 | ||||||
23,408 | Franklin Resources, Inc. | 783,934 | ||||||
3,129 | Mastercard, Inc. - Class A | 1,124,312 | ||||||
8,079 | Morgan Stanley | 793,059 | ||||||
4,231 | T. Rowe Price Group, Inc. | 831,984 | ||||||
2,057 | The Goldman Sachs Group, Inc. | 786,905 | ||||||
4,029 | Visa, Inc. - Class A | 873,170 | ||||||
8,429,863 | ||||||||
Health Care 10.5% | ||||||||
6,006 | Abbott Laboratories | 845,285 | ||||||
5,391 | Agilent Technologies, Inc. | 860,614 | ||||||
9,428 | Baxter International, Inc. | 809,300 | ||||||
2,751 | Danaher Corp. | 905,118 | ||||||
3,642 | McKesson Corp. | 905,278 | ||||||
1,337 | Thermo Fisher Scientific, Inc. | 891,834 | ||||||
2,019 | West Pharmaceutical Services, Inc. | 946,931 | ||||||
6,164,360 | ||||||||
Industrials 14.7% | ||||||||
9,692 | Amphenol Corp. - Class A | 847,662 | ||||||
20,718 | CSX Corp. | 778,997 | ||||||
6,336 | Expeditors International of Washington, Inc. | 850,927 | ||||||
3,891 | JB Hunt Transport Services, Inc. | 795,321 | ||||||
4,396 | L3Harris Technologies, Inc. | 937,403 | ||||||
4,686 | Nordson Corp. | 1,196,195 | ||||||
2,409 | Old Dominion Freight Line, Inc. | 863,167 | ||||||
2,443 | Parker-Hannifin Corp. | 777,167 | ||||||
5,680 | Waste Connections, Inc. | 774,014 | ||||||
1,616 | W.W. Grainger, Inc. | 837,399 | ||||||
8,658,252 | ||||||||
Materials 6.6% | ||||||||
3,760 | Avery Dennison Corp. | 814,303 | ||||||
4,755 | Celanese Corp. | 799,125 | ||||||
7,838 | Nucor Corp. | 894,708 | ||||||
3,869 | The Sherwin-Williams Co. | 1,362,507 | ||||||
3,870,643 | ||||||||
Technology 29.2% | ||||||||
4,614 | Analog Devices, Inc. | 810,983 | ||||||
5,258 | Apple, Inc. | 933,663 | ||||||
5,220 | Applied Materials, Inc. | 821,419 | ||||||
1,416 | Broadcom, Inc. | 942,221 | ||||||
4,147 | CDW Corporation of Delaware | 849,222 | ||||||
1,576 | FactSet Research Systems, Inc. | 765,952 | ||||||
21,903 | HP, Inc. | 825,075 | ||||||
1,318 | Intuit, Inc. | 847,764 | ||||||
2,132 | KLA Corp. | 916,994 | ||||||
1,289 | Lam Research Corp. | 926,984 | ||||||
2,615 | Microsoft Corp. | 879,477 | ||||||
1,575 | Monolithic Power Systems, Inc. | 776,798 | ||||||
2,201 | Moody's Corp. | 859,667 | ||||||
4,297 | QUALCOMM, Inc. | 785,792 | ||||||
1,814 | S&P Global, Inc. | 856,081 | ||||||
5,787 | Skyworks Solutions, Inc. | 897,795 | ||||||
9,942 | SS&C Technologies Holdings, Inc. | 815,045 | ||||||
5,541 | Teradyne, Inc. | 906,120 | ||||||
4,698 | Texas Instruments, Inc. | 885,432 | ||||||
2,886 | Ubiquiti, Inc. | 885,136 | ||||||
17,187,620 | ||||||||
Total Common Stocks | ||||||||
(Cost $49,472,651) | 57,074,874 | |||||||
MONEY MARKET FUNDS 2.9% | ||||||||
1,705,276 | First American Government Obligations Fund, 0.026% (a) | 1,705,276 | ||||||
Total Money Market Funds | ||||||||
(Cost $1,705,276) | 1,705,276 | |||||||
Total Investments 100.0% | ||||||||
(Cost $51,177,927) | 58,780,150 | |||||||
Other Assets in Excess of Liabilities 0.0% | 11,569 | |||||||
TOTAL NET ASSETS 100.0% | $ | 58,791,719 | ||||||
(a) | 7-day net yield at December 31, 2021. |
Siren DIVCON Dividend Defender ETF | ||||||||
SCHEDULE OF INVESTMENTS | ||||||||
December 31, 2021 (Unaudited) | ||||||||
Number of Shares | Value | |||||||
COMMON STOCKS 80.8% | ||||||||
Communications 1.2% | ||||||||
7,176 | Activision Blizzard, Inc. (a) | $ | 477,419 | |||||
Consumer Discretionary 10.6% | ||||||||
4,817 | Best Buy Co., Inc. | 489,407 | ||||||
920 | Domino's Pizza, Inc. | 519,184 | ||||||
4,720 | DR Horton, Inc. (a) | 511,884 | ||||||
1,769 | Lowe's Companies, Inc. | 457,251 | ||||||
2,679 | NIKE, Inc. - Class B | 446,509 | ||||||
844 | Pool Corp. | 477,704 | ||||||
1,066 | The Home Depot, Inc. | 442,401 | ||||||
2,102 | Tractor Supply Co. (a) | 501,537 | ||||||
2,411 | Williams-Sonoma, Inc. | 407,772 | ||||||
4,253,649 | ||||||||
Consumer Staples 4.5% | ||||||||
5,252 | Colgate-Palmolive Co. | 448,206 | ||||||
1,929 | Dollar General Corp. (a) | 454,916 | ||||||
1,791 | Target Corp. | 414,509 | ||||||
2,393 | The Hershey Co. | 462,974 | ||||||
1,780,605 | ||||||||
Energy 1.1% | ||||||||
4,756 | EOG Resources, Inc. | 422,475 | ||||||
Financials 11.4% | ||||||||
7,872 | Aflac, Inc. (a) | 459,646 | ||||||
8,956 | Ally Financial, Inc. | 426,395 | ||||||
7,850 | Brown & Brown, Inc. (a) | 551,698 | ||||||
3,982 | Discover Financial Services | 460,160 | ||||||
12,879 | Franklin Resources, Inc. | 431,318 | ||||||
1,293 | Mastercard, Inc. - Class A | 464,601 | ||||||
4,332 | Morgan Stanley | 425,229 | ||||||
2,192 | T. Rowe Price Group, Inc. (a) | 431,035 | ||||||
1,104 | The Goldman Sachs Group, Inc. | 422,335 | ||||||
2,215 | Visa, Inc. - Class A | 480,013 | ||||||
4,552,430 | ||||||||
Health Care 10.1% | ||||||||
3,220 | Abbott Laboratories | 453,183 | ||||||
2,890 | Agilent Technologies, Inc. | 461,389 | ||||||
5,252 | Baxter International, Inc. | 450,832 | ||||||
1,442 | Danaher Corp. | 474,432 | ||||||
1,997 | McKesson Corp. | 496,394 | ||||||
689 | Thermo Fisher Scientific, Inc. | 459,728 | ||||||
1,362 | West Pharmaceutical Services, Inc. (a) | 638,792 | ||||||
2,514 | Zoetis, Inc. (a) | 613,491 | ||||||
4,048,241 | ||||||||
Industrials 12.5% | ||||||||
6,050 | Amphenol Corp. - Class A (a) | 529,133 | ||||||
11,399 | CSX Corp. | 428,602 | ||||||
3,397 | Expeditors International of Washington, Inc. | 456,183 | ||||||
2,900 | JB Hunt Transport Services, Inc. (a) | 592,760 | ||||||
2,329 | L3Harris Technologies, Inc. (a) | 496,636 | ||||||
2,910 | Nordson Corp. (a) | 742,836 | ||||||
1,267 | Old Dominion Freight Line, Inc. | 454,068 | ||||||
1,366 | Parker-Hannifin Corp. | 434,552 | ||||||
3,148 | Waste Connections, Inc. | 428,978 | ||||||
875 | W.W. Grainger, Inc. | 453,460 | ||||||
5,017,208 | ||||||||
Materials 4.5% | ||||||||
2,055 | Avery Dennison Corp. | 445,051 | ||||||
2,700 | Celanese Corp. | 453,762 | ||||||
4,202 | Nucor Corp. | 479,658 | ||||||
1,145 | The Sherwin-Williams Co. (a) | 403,223 | ||||||
1,781,694 | ||||||||
Technology 24.9% | ||||||||
2,434 | Analog Devices, Inc. | 427,824 | ||||||
2,621 | Apple, Inc. (a) | 465,411 | ||||||
2,891 | Applied Materials, Inc. | 454,928 | ||||||
764 | Broadcom, Inc. | 508,373 | ||||||
2,270 | CDW Corporation of Delaware | 464,851 | ||||||
997 | FactSet Research Systems, Inc. (a) | 484,552 | ||||||
11,742 | HP, Inc. | 442,321 | ||||||
636 | Intuit, Inc. (a) | 409,088 | ||||||
1,204 | KLA Corp. (a) | 517,852 | ||||||
910 | Lam Research Corp. (a) | 654,427 | ||||||
1,541 | Microsoft Corp. (a) | 518,269 | ||||||
791 | Monolithic Power Systems, Inc. | 390,224 | ||||||
1,366 | Moody's Corp. (a) | 533,532 | ||||||
570 | MSCI, Inc. (a) | 349,233 | ||||||
2,325 | QUALCOMM, Inc. | 425,173 | ||||||
1,166 | S&P Global, Inc. (a) | 550,270 | ||||||
3,054 | Skyworks Solutions, Inc. (a) | 473,798 | ||||||
5,614 | SS&C Technologies Holdings, Inc. | 460,236 | ||||||
2,670 | Teradyne, Inc. (a) | 436,625 | ||||||
3,151 | Texas Instruments, Inc. (a) | 593,869 | ||||||
1,383 | Ubiquiti, Inc. | 424,166 | ||||||
9,985,022 | ||||||||
Total Common Stocks | ||||||||
(Cost $27,692,309) | 32,318,743 | |||||||
MONEY MARKET FUNDS 17.1% | ||||||||
6,863,090 | First American Government Obligations Fund, 0.026% (b) | 6,863,090 | ||||||
Total Money Market Funds | ||||||||
(Cost $6,863,090) | 6,863,090 | |||||||
Total Investments Before Securities Sold Short | ||||||||
(Cost $34,555,399) | 39,181,833 | |||||||
SECURITIES SOLD SHORT | ||||||||
COMMON STOCKS (25.9%) | ||||||||
Communications (1.5)% | ||||||||
(4,458 | ) | Electronic Arts, Inc. | (588,010 | ) | ||||
Consumer Discretionary (3.4)% | ||||||||
(31,469 | ) | Ford Motor Co. | (653,611 | ) | ||||
(16,067 | ) | MGM Resorts International | (721,087 | ) | ||||
(1,374,698 | ) | |||||||
Consumer Staples (1.7)% | ||||||||
(18,662 | ) | The Kraft Heinz Co. | (669,966 | ) | ||||
Energy (7.1)% | ||||||||
(24,506 | ) | Baker Hughes Co. | (589,614 | ) | ||||
(25,594 | ) | Halliburton Co. | (585,335 | ) | ||||
(6,887 | ) | Hess Corp. | (509,845 | ) | ||||
(20,914 | ) | Occidental Petroleum Corp. | (606,297 | ) | ||||
(18,453 | ) | Schlumberger NV | (552,667 | ) | ||||
(2,843,758 | ) | |||||||
Financials (2.4)% | ||||||||
(9,451 | ) | The Progressive Corp. | (970,145 | ) | ||||
Health Care (1.7)% | ||||||||
(48,737 | ) | Viatris, Inc. | (659,412 | ) | ||||
Industrials (1.9)% | ||||||||
(7,928 | ) | General Electric Co. | (748,958 | ) | ||||
Utilities (6.2)% | ||||||||
(34,825 | ) | CenterPoint Energy, Inc. | (971,965 | ) | ||||
(9,114 | ) | Dominion Energy, Inc. | (715,996 | ) | ||||
(6,787 | ) | DTE Energy Co. | (811,318 | ) | ||||
(2,499,279 | ) | |||||||
Total Securities Sold Short | ||||||||
[Proceeds $(9,552,572)] | (10,354,226 | ) | ||||||
Total Investments 72.0% | ||||||||
(Cost $25,002,827) | 28,827,607 | |||||||
Other Assets in Excess of Liabilities 28.0% | 11,217,942 | |||||||
TOTAL NET ASSETS 100.0% | $ | 40,045,549 | ||||||
(a) | Substantially all the securities, or a portion thereof, have been pledged as collateral for open short positions by the Fund. The aggregate market value of the collateral at December 31, 2021 was $24,629,530, which includes cash in the amount of $11,237,598. | |||||||
(b) | 7-day net yield at December 31, 2021. |
Siren Nasdaq NexGen Economy ETF | ||||||||
SCHEDULE OF INVESTMENTS | ||||||||
December 31, 2021 (Unaudited) | ||||||||
Number of Shares | Value | |||||||
COMMON STOCKS 99.7% | ||||||||
Communications 9.9% | ||||||||
32,390 | Baidu, Inc. - ADR (b) | $ | 4,819,308 | |||||
109,649 | Digital Garage, Inc. (a) | 4,666,016 | ||||||
205,789 | GMO Internet, Inc. (a) | 4,857,143 | ||||||
9,969 | Meta Platforms, Inc. - Class A (b) | 3,353,073 | ||||||
6,454 | Swisscom AG (a) | 3,644,895 | ||||||
78,010 | Tencent Holdings Ltd. (a) | 4,570,021 | ||||||
25,910,456 | ||||||||
Consumer Discretionary 6.5% | ||||||||
38,557 | Alibaba Group Holding Ltd. - ADR (b) | 4,580,186 | ||||||
67,055 | JD.com, Inc. - ADR (b) | 4,698,544 | ||||||
69,721 | Overstock.com, Inc. (b) | 4,114,236 | ||||||
360,388 | Rakuten Group, Inc. (a) | 3,615,472 | ||||||
17,008,438 | ||||||||
Consumer Staples 1.4% | ||||||||
25,146 | Walmart, Inc. | 3,638,375 | ||||||
Financials 36.7% | ||||||||
24,920 | American Express Co. | 4,076,912 | ||||||
61,176 | Citigroup, Inc. | 3,694,419 | ||||||
22,658 | Coinbase Global, Inc. - Class A (b) | 5,718,200 | ||||||
59,264 | Customers Bancorp, Inc. (b) | 3,874,088 | ||||||
20,274 | Deutsche Boerse AG (a) | 3,395,350 | ||||||
260,624 | Galaxy Digital Holdings Ltd. (a)(b) | 4,666,693 | ||||||
274,978 | ING Groep NV - ADR | 3,827,694 | ||||||
28,096 | Intercontinental Exchange, Inc. | 3,842,690 | ||||||
30,176 | JPMorgan Chase & Co. | 4,778,370 | ||||||
12,553 | Mastercard, Inc. - Class A | 4,510,544 | ||||||
1,132,632 | Mogo, Inc. (b) | 3,873,602 | ||||||
21,494 | Nasdaq, Inc. | 4,513,955 | ||||||
26,761 | PayPal Holdings, Inc. (b) | 5,046,589 | ||||||
222,940 | Plus500 Ltd. (a) | 4,105,439 | ||||||
208,475 | Robinhood Markets, Inc. - Class A (b) | 3,702,516 | ||||||
174,221 | SBI Holdings, Inc. (a) | 4,748,177 | ||||||
13,958 | Signature Bank/New York NY | 4,514,994 | ||||||
30,487 | Silvergate Capital Corp. - Class A (b) | 4,518,173 | ||||||
63,239 | The Bank of New York Mellon Corp. | 3,672,921 | ||||||
8,873 | The Goldman Sachs Group, Inc. | 3,394,366 | ||||||
34,667 | TMX Group Ltd. (a)(b) | 3,514,797 | ||||||
20,300 | Visa, Inc. - Class A | 4,399,213 | ||||||
1,211,764 | ZhongAn Online P&C Insurance Co. Ltd. (a)(b) | 4,211,426 | ||||||
96,601,128 | ||||||||
Industrials 3.3% | ||||||||
79,037 | Hitachi Ltd. (a) | 4,280,627 | ||||||
26,129 | Siemens AG (a) | 4,541,897 | ||||||
8,822,524 | ||||||||
Technology 41.9% | ||||||||
12,682 | Accenture PLC - Class A | 5,257,323 | ||||||
31,964 | Advanced Micro Devices, Inc. (b) | 4,599,620 | ||||||
427,955 | Bakkt Holdings, Inc. (b) | 3,641,897 | ||||||
762,167 | Bitfarms Ltd. of Canada (b) | 3,848,943 | ||||||
29,274 | Block, Inc. (b) | 4,728,044 | ||||||
25,389 | Broadridge Financial Solutions, Inc. | 4,641,617 | ||||||
770,078 | Canaan, Inc. (b) | 3,965,902 | ||||||
69,419 | Cisco Systems, Inc. | 4,399,082 | ||||||
2,010,238 | Ebang International Holdings, Inc. - Class A (b) | 2,070,545 | ||||||
27,759 | Fujitsu Ltd. (a) | 4,761,237 | ||||||
274,468 | Hewlett Packard Enterprise Co. | 4,328,360 | ||||||
1,803,419 | Huobi Technology Holdings Ltd. (a)(b) | 1,898,810 | ||||||
166,780 | Infosys Ltd. - ADR | 4,221,202 | ||||||
40,249 | International Business Machines Corp. | 5,379,681 | ||||||
127,028 | Marathon Digital Holdings, Inc. (b) | 4,174,140 | ||||||
37,891 | Micron Technology, Inc. | 3,529,547 | ||||||
13,936 | Microsoft Corp. | 4,686,955 | ||||||
7,428 | MicroStrategy, Inc. (b) | 4,044,472 | ||||||
199,454 | NTT Data Corp. (a) | 4,275,872 | ||||||
15,046 | NVIDIA Corp. | 4,425,179 | ||||||
1,287,994 | OneConnect Financial Technology Co. Ltd. (b) | 3,181,345 | ||||||
45,136 | Oracle Corp. | 3,936,311 | ||||||
2,523 | Samsung Electronics Co. Ltd. - GDR 144A (c) | 4,160,427 | ||||||
31,656 | SAP SE - ADR | 4,435,322 | ||||||
31,873 | Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 3,834,641 | ||||||
20,392 | Texas Instruments, Inc. | 3,843,280 | ||||||
682,714 | Z Holdings Corp. (a) | 3,961,083 | ||||||
110,230,837 | ||||||||
Total Common Stocks | ||||||||
(Cost $229,193,656) | 262,211,758 | |||||||
MONEY MARKET FUNDS 0.2% | ||||||||
482,153 | First American Government Obligations Fund, 0.026% (d) | 482,153 | ||||||
Total Money Market Funds | ||||||||
(Cost $482,153) | 482,153 | |||||||
Total Investments 99.9% | ||||||||
(Cost $229,675,809) | 262,693,911 | |||||||
Other Assets in Excess of Liabilities 0.1% | 196,935 | |||||||
TOTAL NET ASSETS 100.0% | $ | 262,890,846 | ||||||
(a) | U.S.-dollar denominated security of a foreign issuer. | |||||||
(b) | Non-Income Producing. | |||||||
(c) | Security was purchased pursuant to Rule 144 under the securities Act of 1933 and may not be resold subject to the rule except to qualified institutional buyers. Unless otherwise noted, 144 securities are deemed to be liquid. At December 31, 2021, the net value of these securities amounted to $4,160,427 which represents 1.6% of net assets. | |||||||
(d) | 7-day net yield at December 31, 2021. | |||||||
ADR - American Depositary Receipt | ||||||||
GDR - Global Depositary Receipt |
The net asset value (“NAV”) per share of each Fund is calculated each business day as of the close of regular trading on the New York Stock Exchange (“NYSE”), generally 4:00 p.m., Eastern Time. The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds’ shares will not be priced on the days on which the NYSE is closed for trading. The offering and redemption price per share for each Fund is equal to the NAV per share.
Securities held by the Funds are valued at market quotations when reliable market quotations are readily available. Exchange traded securities and instruments (including equity securities, depositary receipts and ETFs) are generally valued at the last reported sale price on the principal exchange on which such securities are traded (at the NASDAQ Official Closing Price for NASDAQ listed securities), as of the close of regular trading on the NYSE on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Over-the-counter (“OTC”) securities and instruments not traded on an exchange are generally valued at the last traded price. In the absence of a recorded transaction sale price or if the last sale price is unavailable, OTC securities are valued at the mean between last bid and ask, as quoted. If an ask price for an OTC security is unavailable, the last bid price is used. Such valuations would typically be categorized as Level 1 or Level 2 in the fair value hierarchy described below.
When reliable market quotations are not readily available, securities are priced at their fair value in accordance with the Trust’s valuation procedures, which were approved by the Trustees. The Funds may use fair value pricing in a variety of circumstances, including but not limited to, situations when the value of a Fund’s security has been materially affected by events occurring after the close of the market on which such security is principally traded (such as a corporate action or other news that may materially affect the price of such security) or trading in such security has been suspended or halted. Such valuations would typically be categorized as Level 2 or Level 3 in the fair value hierarchy described below. Fair value pricing involves subjective judgments, and it is possible that a fair value determination for a security is materially different than the value that could be realized upon the sale of such security. In addition, fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ target Index. This may adversely affect a Fund’s ability to track its Target Index.
The Funds disclose the fair market value of their investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:
• Level 1 — Quoted prices in active markets for identical assets.
• 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 in determining the fair value of investments). The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used to value the Funds’ investments as of December 31, 2021:
Siren Large Cap Blend Index ETF | ||||||||||||||||
Investments at Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity | ||||||||||||||||
Common Stocks(a) | $ | 1,668,465 | $ | - | $ | - | $ | 1,668,465 | ||||||||
Short-Term Investments | ||||||||||||||||
Money Market Funds | 6,506 | - | - | 6,506 | ||||||||||||
Total | $ | 1,674,971 | $ | - | $ | - | $ | 1,674,971 | ||||||||
Siren DIVCON Leaders Dividend ETF | ||||||||||||||||
Investments at Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity | ||||||||||||||||
Common Stocks(a) | $ | 57,074,874 | $ | - | $ | - | $ | 57,074,874 | ||||||||
Short-Term Investments | ||||||||||||||||
Money Market Funds | 1,705,276 | - | - | 1,705,276 | ||||||||||||
Total | $ | 58,780,150 | $ | - | $ | - | $ | 58,780,150 | ||||||||
Siren DIVCON Dividend Defender ETF | ||||||||||||||||
Investments at Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets | ||||||||||||||||
Equity | ||||||||||||||||
Common Stocks(a) | $ | 32,318,743 | $ | - | $ | - | $ | 32,318,743 | ||||||||
Short-Term Investments | ||||||||||||||||
Money Market Funds | 6,863,090 | - | - | 6,863,090 | ||||||||||||
Total Assets | $ | 39,181,833 | $ | - | $ | - | $ | 39,181,833 | ||||||||
Liabilities | ||||||||||||||||
Equity | ||||||||||||||||
Common Stocks(a) | $ | (10,354,226 | ) | $ | - | $ | - | $ | (10,354,226 | ) | ||||||
Total Liabilities | $ | (10,354,226 | ) | $ | - | $ | - | $ | (10,354,226 | ) | ||||||
Siren Nasdaq NexGen Economy ETF | ||||||||||||||||
Investments at Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Equity | ||||||||||||||||
Common Stocks(a) | $ | 262,211,758 | $ | - | $ | - | $ | 262,211,758 | ||||||||
Short-Term Investments | ||||||||||||||||
Money Market Funds | 482,153 | - | - | 482,153 | ||||||||||||
Total | $ | 262,693,911 | $ | - | $ | - | $ | 262,693,911 | ||||||||
(a)See each Fund's Schedule of Investments for breakout by sector classification. |
Tax Disclosure - The Funds’ policy is to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as regulated investment companies and distribute substantially all net taxable investment income and net realized gains to shareholders in a manner which results in no tax cost to the Funds. Therefore, no federal income tax provision is required. The Funds plan to file U.S. Federal and various state and local tax returns.
The Funds recognize the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Funds’ uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits on uncertain tax positions as income tax expenses in the Statements of Operations. During the period ended December 31, 2021, the Funds did not incur any interest or penalties.