ASYMmetric Smart S&P 500 ETF | ||||||||
Schedule of Investments (Unaudited) | ||||||||
September 30, 2023 | ||||||||
Shares | Value | |||||||
COMMON STOCKS - 99.6% | ||||||||
Communication Services - 8.9% | ||||||||
Activision Blizzard, Inc. | 4,187 | $ | 392,029 | |||||
AT&T, Inc. | 26,026 | 390,911 | ||||||
Electronic Arts, Inc. | 3,213 | 386,845 | ||||||
Verizon Communications, Inc. | 11,005 | 356,672 | ||||||
1,526,457 | ||||||||
Consumer Discretionary - 10.3% | ||||||||
Genuine Parts Co. | 2,430 | 350,843 | ||||||
McDonald's Corp. | 1,324 | 348,795 | ||||||
O'Reilly Automotive, Inc. * | 400 | 363,544 | ||||||
Tractor Supply Co. | 1,700 | 345,185 | ||||||
Yum! Brands, Inc. | 2,873 | 358,953 | ||||||
1,767,320 | ||||||||
Consumer Staples - 6.2% | ||||||||
Campbell Soup Co. | 9,179 | 377,073 | ||||||
General Mills, Inc. | 5,656 | 361,928 | ||||||
J.M. Smucker Co. | 2,641 | 324,605 | ||||||
1,063,606 | ||||||||
Energy - 4.9% | ||||||||
Exxon Mobil Corp. | 3,483 | 409,531 | ||||||
Valero Energy Corp. | 2,980 | 422,296 | ||||||
831,827 | ||||||||
Financials - 13.1% | ||||||||
Allstate Corp. | 3,370 | 375,452 | ||||||
Cboe Global Markets, Inc. | 2,427 | 379,122 | ||||||
Globe Life, Inc. | 3,258 | 354,242 | ||||||
Progressive Corp. | 2,724 | 379,453 | ||||||
Travelers Companies, Inc. | 2,271 | 370,877 | ||||||
W.R. Berkley Corp. | 5,874 | 372,940 | ||||||
2,232,086 | ||||||||
Health Care - 13.0% | ||||||||
AbbVie, Inc. | 2,238 | 333,596 | ||||||
Bristol-Myers Squibb Co. | 5,333 | 309,527 | ||||||
DaVita, Inc. * | 3,213 | 303,725 | ||||||
Humana, Inc. | 716 | 348,348 | ||||||
Incyte Corp. * | 5,092 | 294,165 | ||||||
Johnson & Johnson | 2,034 | 316,796 | ||||||
Merck & Co., Inc. | 3,015 | 310,394 | ||||||
2,216,551 | ||||||||
Industrials - 8.3% | ||||||||
Huntington Ingalls Industries, Inc. | 1,677 | 343,081 | ||||||
Lockheed Martin Corp. | 823 | 336,574 | ||||||
Northrop Grumman Corp. | 854 | 375,922 | ||||||
Waste Management, Inc. | 2,361 | 359,911 | ||||||
1,415,488 | ||||||||
Information Technology# - 27.5% | ||||||||
CDW Corp. | 1,673 | 337,544 | ||||||
Cisco Systems Inc. | 6,146 | 330,409 | ||||||
Corning, Inc. | 10,734 | 327,065 | ||||||
First Solar, Inc. * | 1,867 | 301,689 | ||||||
Gen Digital, Inc. | 17,399 | 307,614 | ||||||
Hewlett Packard Enterprise Co. | 20,736 | 360,184 | ||||||
International Business Machines Corp. | 2,404 | 337,281 | ||||||
Juniper Networks, Inc. | 12,100 | 336,259 | ||||||
Motorola Solutions, Inc. | 1,245 | 338,939 | ||||||
NetApp, Inc. | 4,596 | 348,744 | ||||||
PTC, Inc. * | 2,398 | 339,749 | ||||||
Roper Technologies, Inc. | 709 | 343,355 | ||||||
Teledyne Technologies, Inc. * | 846 | 345,659 | ||||||
Texas Instruments, Inc. | 2,098 | 333,603 | ||||||
4,688,094 | ||||||||
Materials - 2.8% | ||||||||
CF Industries Holdings, Inc. | 5,585 | 478,858 | ||||||
Real Estate - 2.2% | ||||||||
Realty Income Corp. | 7,625 | 380,792 | ||||||
Utilities - 2.4% | ||||||||
Consolidated Edison, Inc. | 4,772 | 408,149 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $18,059,228) | 17,009,228 | |||||||
SHORT-TERM INVESTMENT - 0.2% | ||||||||
Money Market Deposit Account - 0.2% | ||||||||
U.S. Bank N.A., 5.200% (a) | ||||||||
(Cost $30,111) | 30,111 | 30,111 | ||||||
Total Investments - 99.8% | ||||||||
(Cost $18,089,339) | 17,039,339 | |||||||
Other Assets and Liabilities, Net - 0.2% | 32,051 | |||||||
Total Net Assets - 100.0% | $ | 17,071,390 |
* Non-income producing security | ||||||
# The Fund is signficantly invested in this sector and therefore is subject to additional risks. The information technology sector may be more sensitive to short product cycles, competition and more aggressive pricing than the overall market. | ||||||
(a) The Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of September 30, 2023. | ||||||
Summary of Fair Value Exposure | ||||||
The Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion in changes in valuation techniques and related inputs during the period and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below: | ||||||
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. | ||||||
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. | ||||||
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. | ||||||
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. | ||||||
The following is a summary of the inputs used to value the Fund's securities as of September 30, 2023: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks | $ | 17,009,228 | $ | - | $ | - | $ | 17,009,228 | ||||||||
Short-Term Investment | 30,111 | - | - | 30,111 | ||||||||||||
Total Investments | $ | 17,039,339 | $ | - | $ | - | $ | 17,039,339 | ||||||||
Refer to the Schedule of Investments for further information on the classification of investments. | ||||||||||||||||