ETC 6 Meridian
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
February 29, 2024 (Unaudited)
| Description | Shares | Fair Value | ||||||
| COMMON STOCK — 100.1% | ||||||||
| Communication Services — 9.6% | ||||||||
| Alphabet, Cl A(A) * | 70,337 | $ | 9,738,861 | |||||
| Comcast, Cl A | 106,231 | 4,551,998 | ||||||
| Meta Platforms, Cl A(A) | 25,150 | 12,326,770 | ||||||
| Netflix* | 8,747 | 5,273,741 | ||||||
| T-Mobile US | 30,549 | 4,988,652 | ||||||
| 36,880,022 | ||||||||
| Consumer Discretionary — 10.9% | ||||||||
| Amazon.com(A) * | 62,335 | 11,018,334 | ||||||
| Booking Holdings* | 1,395 | 4,839,018 | ||||||
| General Motors | 127,712 | 5,233,638 | ||||||
| Home Depot | 13,787 | 5,247,470 | ||||||
| Lowe's(A) | 22,541 | 5,424,943 | ||||||
| McDonald's(A) | 16,654 | 4,867,631 | ||||||
| Tesla* | 26,285 | 5,306,416 | ||||||
| 41,937,450 | ||||||||
| Consumer Staples — 19.2% | ||||||||
| Altria Group(A) | 237,985 | 9,735,966 | ||||||
| Coca-Cola(A) | 162,820 | 9,772,456 | ||||||
| Colgate-Palmolive(A) | 115,290 | 9,974,891 | ||||||
| Costco Wholesale | 7,047 | 5,242,193 | ||||||
| Kraft Heinz(A) | 262,943 | 9,276,629 | ||||||
| Mondelez International, Cl A | 64,857 | 4,739,101 | ||||||
| PepsiCo(A) | 57,826 | 9,560,951 | ||||||
| Procter & Gamble | 31,186 | 4,956,703 | ||||||
| Walmart(A) | 176,969 | 10,372,153 | ||||||
| 73,631,043 | ||||||||
| Energy — 7.9% | ||||||||
| Chevron | 67,136 | 10,205,344 | ||||||
| ConocoPhillips(A) | 89,143 | 10,032,153 | ||||||
| Exxon Mobil(A) | 96,970 | 10,135,304 | ||||||
| 30,372,801 | ||||||||
| Financials — 6.7% | ||||||||
| American Express | 24,428 | 5,359,992 | ||||||
| Berkshire Hathaway, Cl B* | 12,846 | 5,259,152 | ||||||
| Capital One Financial | 36,892 | 5,076,708 | ||||||
| Citigroup | 88,551 | 4,913,695 | ||||||
| Morgan Stanley | 57,178 | 4,919,595 | ||||||
| 25,529,142 | ||||||||
| Health Care — 15.9% | ||||||||
| AbbVie(A) | 59,244 | 10,429,906 | ||||||
| CVS Health | 67,156 | 4,994,392 | ||||||
| Eli Lilly(A) | 22,551 | 16,996,238 | ||||||
| Gilead Sciences(A) | 127,031 | 9,158,935 | ||||||
| Johnson & Johnson(A) | 31,347 | 5,058,779 | ||||||
| Medtronic PLC | 56,353 | 4,697,586 | ||||||
| Description | Shares | Fair Value | ||||||
| Health Care (continued) | ||||||||
| Merck(A) | 39,280 | $ | 4,994,452 | |||||
| UnitedHealth Group | 9,789 | 4,831,850 | ||||||
| 61,162,138 | ||||||||
| Industrials — 8.2% | ||||||||
| Caterpillar | 16,134 | 5,388,111 | ||||||
| Deere | 12,610 | 4,603,281 | ||||||
| Emerson Electric | 52,946 | 5,657,280 | ||||||
| General Electric(A) | 36,660 | 5,751,587 | ||||||
| Lockheed Martin(A) | 11,551 | 4,946,600 | ||||||
| United Parcel Service, Cl B | 34,858 | 5,168,047 | ||||||
| 31,514,906 | ||||||||
| Information Technology — 20.3% | ||||||||
| Accenture PLC, Cl A | 13,384 | 5,016,056 | ||||||
| Adobe(A) * | 15,812 | 8,859,148 | ||||||
| Advanced Micro Devices* | 29,119 | 5,606,281 | ||||||
| Apple(A) | 53,135 | 9,604,151 | ||||||
| Broadcom | 4,137 | 5,380,127 | ||||||
| Cisco Systems | 98,927 | 4,785,099 | ||||||
| International Business Machines(A) | 26,561 | 4,914,582 | ||||||
| Microsoft | 12,294 | 5,085,290 | ||||||
| NVIDIA | 15,753 | 12,462,514 | ||||||
| QUALCOMM | 35,179 | 5,550,894 | ||||||
| Salesforce* | 17,492 | 5,401,879 | ||||||
| Texas Instruments(A) | 31,086 | 5,201,620 | ||||||
| 77,867,641 | ||||||||
| Real Estate — 1.4% | ||||||||
| Simon Property Group‡,(A) | 35,611 | 5,275,414 | ||||||
| Total Common Stock | ||||||||
| (Cost $336,847,562) | 384,170,557 | |||||||
| EXCHANGE TRADED FUND — 1.4% | ||||||||
| SPDR Bloomberg 1-3 Month T-Bill ETF | 59,477 | 5,458,799 | ||||||
| Total Exchange Traded Fund (Cost $5,437,937) | 5,458,799 | |||||||
| SHORT-TERM INVESTMENT — 0.3% | ||||||||
| Invesco Government & Agency Portfolio, Institutional Class Class, 5.24%(B) | 1,036,591 | 1,036,591 | ||||||
| Total Short-Term Investment (Cost $1,036,591) | 1,036,591 | |||||||
1
ETC 6 Meridian
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Concluded)
| Description | Fair Value | |||||||
| Total Investments - 101.8% | ||||||||
| (Cost $343,322,090) | $ | 390,665,947 | ||||||
| WRITTEN OPTION — -1.7% | ||||||||
| Total Written Option | ||||||||
| (Premiums Received $6,164,586) | $ | (6,431,630 | ) | |||||
A list of the Exchange Traded Option Contracts held by the Fund at February 29, 2024, is as follows:
| Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | |||||||||||||
| WRITTEN OPTION — (1.7)% | ||||||||||||||||||
| Call Option | ||||||||||||||||||
| S&P 500 Index | (758 | ) | $ | 386,297,266 | $ | 5,120 | 04/19/24 | $ | (6,431,630 | ) | ||||||||
| Total Written Option | $ | (6,431,630 | ) | |||||||||||||||
| (Premiums Received $6,164,586) | ||||||||||||||||||
Percentages are based on Net Assets of $383,915,140.
| * | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | All or a portion of these securities has been pledged as collateral on written options with a fair value of $70,429,154. |
| (B) | The rate reported is the 7-day effective yield as of February 29, 2024. |
| Cl — Class |
| ETF — Exchange Traded Fund |
| PLC — Public Limited Company |
| S&P — Standard & Poor's |
| SPDR — Standard & Poor's Depository Receipt |
MER-QH-001-0800
2
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
February 29, 2024 (Unaudited)
| Description | Shares | Fair Value | ||||||
| COMMON STOCK — 99.3% | ||||||||
| Communication Services — 4.4% | ||||||||
| AT&T | 42,561 | $ | 720,558 | |||||
| ATN International | 15,635 | 524,398 | ||||||
| Electronic Arts | 4,861 | 678,012 | ||||||
| Iridium Communications | 11,989 | 347,082 | ||||||
| Madison Square Garden Sports* | 3,121 | 587,341 | ||||||
| Marcus | 36,645 | 537,582 | ||||||
| New York Times, Cl A | 14,789 | 654,857 | ||||||
| Scholastic | 13,548 | 534,333 | ||||||
| TEGNA | 34,825 | 487,898 | ||||||
| T-Mobile US | 4,427 | 722,929 | ||||||
| Verizon Communications | 18,266 | 731,005 | ||||||
| 6,525,995 | ||||||||
| Consumer Discretionary — 7.4% | ||||||||
| Adtalem Global Education* | 13,223 | 654,539 | ||||||
| Grand Canyon Education* | 5,209 | 702,173 | ||||||
| McDonald's | 2,076 | 606,773 | ||||||
| Monro | 16,870 | 566,326 | ||||||
| Murphy USA | 1,982 | 826,514 | ||||||
| O'Reilly Automotive* | 644 | 700,298 | ||||||
| Perdoceo Education | 37,404 | 666,165 | ||||||
| Service International | 9,135 | 668,591 | ||||||
| Strategic Education | 7,921 | 877,567 | ||||||
| Stride* | 15,173 | 906,586 | ||||||
| Sturm Ruger | 10,783 | 467,120 | ||||||
| Texas Roadhouse, Cl A | 5,460 | 815,560 | ||||||
| Ulta Beauty* | 1,359 | 745,493 | ||||||
| Valvoline* | 16,262 | 693,412 | ||||||
| Wendy's | 27,598 | 499,800 | ||||||
| Yum! Brands | 4,435 | 613,893 | ||||||
| 11,010,810 | ||||||||
| Consumer Staples — 18.9% | ||||||||
| Altria Group | 13,542 | 554,003 | ||||||
| BellRing Brands* | 16,644 | 947,876 | ||||||
| BJ's Wholesale Club Holdings* | 8,760 | 639,830 | ||||||
| Calavo Growers | 15,889 | 458,557 | ||||||
| Cal-Maine Foods | 16,980 | 976,181 | ||||||
| Campbell Soup | 13,197 | 562,720 | ||||||
| Casey's General Stores | 2,444 | 744,175 | ||||||
| Church & Dwight | 6,297 | 630,456 | ||||||
| Clorox | 3,633 | 556,975 | ||||||
| Coca-Cola | 9,815 | 589,096 | ||||||
| Coca-Cola Consolidated | 857 | 720,565 | ||||||
| Colgate-Palmolive | 7,813 | 675,980 | ||||||
| Conagra Brands | 18,442 | 517,851 | ||||||
| Edgewell Personal Care | 15,349 | 586,178 | ||||||
| Flowers Foods | 23,891 | 535,636 | ||||||
| Description | Shares | Fair Value | ||||||
| Consumer Staples (continued) | ||||||||
| Fresh Del Monte Produce | 21,357 | $ | 511,073 | |||||
| General Mills | 8,097 | 519,665 | ||||||
| Grocery Outlet Holding* | 17,904 | 461,744 | ||||||
| Hershey | 2,611 | 490,659 | ||||||
| Hormel Foods | 14,698 | 519,133 | ||||||
| Ingredion | 5,440 | 639,907 | ||||||
| J & J Snack Foods | 3,448 | 500,236 | ||||||
| J M Smucker | 3,987 | 479,118 | ||||||
| John B Sanfilippo & Son | 5,568 | 569,996 | ||||||
| Kellanova | 9,649 | 532,142 | ||||||
| Keurig Dr Pepper | 17,734 | 530,424 | ||||||
| Kimberly-Clark | 4,663 | 565,016 | ||||||
| Kraft Heinz | 16,889 | 595,844 | ||||||
| Kroger | 12,040 | 597,304 | ||||||
| Lamb Weston Holdings | 7,110 | 726,714 | ||||||
| Lancaster Colony | 3,082 | 637,727 | ||||||
| McCormick | 6,822 | 469,763 | ||||||
| MGP Ingredients | 4,945 | 421,215 | ||||||
| Molson Coors Beverage, Cl B | 9,123 | 569,458 | ||||||
| Mondelez International, Cl A | 8,061 | 589,017 | ||||||
| National Beverage* | 11,206 | 589,884 | ||||||
| PepsiCo | 3,228 | 533,718 | ||||||
| Philip Morris International | 6,193 | 557,122 | ||||||
| Post Holdings* | 6,817 | 710,060 | ||||||
| Procter & Gamble | 3,837 | 609,853 | ||||||
| Simply Good Foods* | 15,553 | 551,820 | ||||||
| SpartanNash | 26,648 | 561,473 | ||||||
| Sprouts Farmers Market* | 15,676 | 978,810 | ||||||
| Tootsie Roll Industries | 17,422 | 566,563 | ||||||
| TreeHouse Foods* | 11,452 | 409,867 | ||||||
| Universal | 12,138 | 582,746 | ||||||
| USANA Health Sciences* | 8,989 | 433,809 | ||||||
| Walmart | 11,289 | 661,648 | ||||||
| 28,369,607 | ||||||||
| Financials — 14.9% | ||||||||
| Ambac Financial Group* | 42,409 | 693,811 | ||||||
| American Financial Group | 5,344 | 682,268 | ||||||
| AMERISAFE | 11,059 | 583,473 | ||||||
| Arch Capital Group* | 7,767 | 680,312 | ||||||
| Cboe Global Markets | 4,093 | 785,855 | ||||||
| Chubb | 2,966 | 746,453 | ||||||
| City Holding | 6,123 | 615,239 | ||||||
| CME Group, Cl A | 2,906 | 640,337 | ||||||
| Employers Holdings | 15,243 | 696,758 | ||||||
| Erie Indemnity, Cl A | 2,014 | 819,456 | ||||||
| Everest Group | 1,677 | 618,612 | ||||||
| EZCORP, Cl A* | 64,556 | 677,192 | ||||||
| Federated Hermes, Cl B | 18,056 | 636,113 | ||||||
| FirstCash Holdings | 5,968 | 683,336 | ||||||
| Globe Life | 5,246 | 665,875 | ||||||
3
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Continued)
| Description | Shares | Fair Value | ||||||
| Financials (continued) | ||||||||
| Hanover Insurance Group | 5,304 | $ | 697,317 | |||||
| Horace Mann Educators | 20,682 | 748,482 | ||||||
| Interactive Brokers Group, Cl A | 6,672 | 725,380 | ||||||
| Mercury General | 19,517 | 950,283 | ||||||
| Northfield Bancorp | 50,283 | 507,858 | ||||||
| Old Republic International | 21,303 | 616,935 | ||||||
| Progressive | 4,709 | 892,638 | ||||||
| Reinsurance Group of America, Cl A | 4,246 | 750,905 | ||||||
| RenaissanceRe Holdings | 3,086 | 693,795 | ||||||
| RLI | 4,383 | 641,890 | ||||||
| Safety Insurance Group | 8,215 | 674,944 | ||||||
| Selective Insurance Group | 5,768 | 602,641 | ||||||
| Travelers | 3,533 | 780,652 | ||||||
| United Fire Group | 28,660 | 667,491 | ||||||
| Unum Group | 11,841 | 585,537 | ||||||
| WisdomTree | 91,810 | 739,989 | ||||||
| WR Berkley | 9,626 | 804,734 | ||||||
| 22,306,561 | ||||||||
| Health Care — 21.4% | ||||||||
| AbbVie | 4,033 | 710,010 | ||||||
| Acadia Healthcare* | 7,772 | 648,573 | ||||||
| Addus HomeCare* | 6,351 | 586,070 | ||||||
| Amedisys* | 6,486 | 603,328 | ||||||
| Amgen | 2,449 | 670,610 | ||||||
| AMN Healthcare Services* | 6,627 | 372,901 | ||||||
| Amphastar Pharmaceuticals* | 9,487 | 441,810 | ||||||
| Boston Scientific* | 11,748 | 777,835 | ||||||
| Bristol-Myers Squibb | 9,850 | 499,888 | ||||||
| Cardinal Health | 6,530 | 731,229 | ||||||
| Chemed | 1,159 | 725,685 | ||||||
| Cigna Group | 2,079 | 698,835 | ||||||
| Corcept Therapeutics* | 19,104 | 448,944 | ||||||
| CorVel* | 2,790 | 680,760 | ||||||
| Cross Country Healthcare* | 43,269 | 790,525 | ||||||
| Elevance Health | 1,286 | 644,608 | ||||||
| Eli Lilly | 1,326 | 999,379 | ||||||
| Encompass Health | 8,482 | 631,061 | ||||||
| Enhabit* | 43,748 | 393,732 | ||||||
| Ensign Group | 6,147 | 767,883 | ||||||
| Exelixis* | 29,396 | 643,772 | ||||||
| Gilead Sciences | 7,573 | 546,013 | ||||||
| Haemonetics* | 6,632 | 484,003 | ||||||
| Halozyme Therapeutics* | 14,050 | 559,331 | ||||||
| Harmony Biosciences Holdings* | 17,734 | 569,261 | ||||||
| HealthEquity* | 8,897 | 734,981 | ||||||
| HealthStream | 26,157 | 713,563 | ||||||
| Humana | 1,230 | 430,894 | ||||||
| Incyte* | 9,364 | 546,483 | ||||||
| Innoviva* | 43,909 | 670,930 | ||||||
| Description | Shares | Fair Value | ||||||
| Health Care (continued) | ||||||||
| Ironwood Pharmaceuticals, Cl A* | 53,535 | $ | 504,835 | |||||
| Jazz Pharmaceuticals* | 4,579 | 544,443 | ||||||
| Johnson & Johnson | 3,525 | 568,865 | ||||||
| LeMaitre Vascular | 10,477 | 733,390 | ||||||
| LivaNova* | 10,437 | 572,052 | ||||||
| McKesson | 1,413 | 736,752 | ||||||
| Merck | 5,675 | 721,576 | ||||||
| Molina Healthcare* | 1,967 | 774,821 | ||||||
| Neurocrine Biosciences* | 5,863 | 764,535 | ||||||
| Option Care Health* | 17,850 | 576,020 | ||||||
| Pacira BioSciences* | 15,092 | 448,534 | ||||||
| Perrigo PLC | 16,338 | 429,036 | ||||||
| Prestige Consumer Healthcare* | 8,851 | 615,853 | ||||||
| Quest Diagnostics | 4,393 | 548,642 | ||||||
| Regeneron Pharmaceuticals* | 777 | 750,652 | ||||||
| Supernus Pharmaceuticals* | 18,516 | 549,925 | ||||||
| UFP Technologies* | 3,267 | 680,549 | ||||||
| United Therapeutics* | 2,521 | 568,838 | ||||||
| UnitedHealth Group | 1,185 | 584,916 | ||||||
| Vanda Pharmaceuticals* | 101,681 | 454,514 | ||||||
| Varex Imaging* | 26,260 | 451,672 | ||||||
| Vertex Pharmaceuticals* | 1,750 | 736,295 | ||||||
| 32,039,612 | ||||||||
| Industrials — 10.2% | ||||||||
| Brady, Cl A | 11,734 | 683,858 | ||||||
| BWX Technologies | 8,068 | 813,497 | ||||||
| CACI International, Cl A* | 1,681 | 630,123 | ||||||
| Curtiss-Wright | 2,945 | 695,815 | ||||||
| Exponent | 6,756 | 546,493 | ||||||
| FTI Consulting* | 3,233 | 668,843 | ||||||
| General Dynamics | 2,660 | 726,845 | ||||||
| Genpact | 16,446 | 559,164 | ||||||
| Huntington Ingalls Industries | 2,627 | 766,087 | ||||||
| KBR | 9,692 | 581,811 | ||||||
| L3Harris Technologies | 3,196 | 676,465 | ||||||
| Leidos Holdings | 6,136 | 784,548 | ||||||
| Lockheed Martin | 1,337 | 572,557 | ||||||
| MAXIMUS | 7,486 | 626,279 | ||||||
| MDU Resources Group | 28,360 | 614,845 | ||||||
| National Presto Industries | 7,449 | 576,031 | ||||||
| Northrop Grumman | 1,359 | 626,526 | ||||||
| Republic Services, Cl A | 4,012 | 736,603 | ||||||
| Rollins | 14,793 | 651,928 | ||||||
| RTX | 7,047 | 631,904 | ||||||
| Science Applications International | 4,896 | 685,244 | ||||||
| UniFirst | 3,604 | 608,067 | ||||||
| Waste Management | 3,714 | 763,783 | ||||||
| 15,227,316 | ||||||||
4
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Concluded)
| Description | Shares | Fair Value | ||||||
| Information Technology — 4.4% | ||||||||
| A10 Networks | 37,664 | $ | 501,308 | |||||
| Agilysys* | 8,062 | 627,224 | ||||||
| Aspen Technology* | 3,163 | 613,274 | ||||||
| CommVault Systems* | 8,398 | 803,772 | ||||||
| Harmonic* | 53,874 | 707,366 | ||||||
| Insight Enterprises* | 4,180 | 785,840 | ||||||
| International Business Machines | 4,131 | 764,359 | ||||||
| NetScout Systems* | 21,288 | 460,885 | ||||||
| PC Connection | 11,443 | 759,586 | ||||||
| Progress Software | 9,857 | 525,970 | ||||||
| 6,549,584 | ||||||||
| Materials — 3.0% | ||||||||
| AptarGroup | 4,939 | 693,732 | ||||||
| Corteva | 10,636 | 569,239 | ||||||
| Graphic Packaging Holding | 25,761 | 668,498 | ||||||
| Greif, Cl A | 7,955 | 512,779 | ||||||
| NewMarket | 1,305 | 837,379 | ||||||
| Royal Gold | 5,255 | 539,321 | ||||||
| Silgan Holdings | 13,564 | 595,595 | ||||||
| 4,416,543 | ||||||||
| Real Estate — 3.7% | ||||||||
| CareTrust‡ | 29,123 | 657,015 | ||||||
| Community Healthcare Trust‡ | 16,347 | 443,658 | ||||||
| Easterly Government Properties, Cl A‡ | 41,264 | 486,915 | ||||||
| Equity LifeStyle Properties‡ | 8,572 | 577,067 | ||||||
| Four Corners Property Trust‡ | 23,284 | 563,007 | ||||||
| Getty Realty‡ | 19,018 | 501,314 | ||||||
| LTC Properties‡ | 17,670 | 555,898 | ||||||
| NNN REIT‡ | 14,778 | 601,317 | ||||||
| Omega Healthcare Investors‡ | 18,832 | 586,052 | ||||||
| Universal Health Realty Income Trust‡ | 12,544 | 486,456 | ||||||
| 5,458,699 | ||||||||
| Utilities — 11.0% | ||||||||
| ALLETE | 10,686 | 605,254 | ||||||
| American States Water | 6,929 | 494,800 | ||||||
| Atmos Energy | 5,081 | 573,696 | ||||||
| Avista | 16,087 | 534,088 | ||||||
| Black Hills | 10,474 | 544,962 | ||||||
| California Water Service Group | 11,579 | 531,360 | ||||||
| CenterPoint Energy | 20,525 | 564,438 | ||||||
| Chesapeake Utilities | 5,287 | 539,433 | ||||||
| CMS Energy | 10,321 | 592,116 | ||||||
| Consolidated Edison | 6,672 | 581,865 | ||||||
| Duke Energy | 6,661 | 611,679 | ||||||
| Evergy | 10,399 | 515,166 | ||||||
| Hawaiian Electric Industries | 16,065 | 195,672 | ||||||
| IDACORP | 6,042 | 532,361 | ||||||
| Middlesex Water | 7,450 | 379,131 | ||||||
| Description | Shares | Fair Value | ||||||
| Utilities (continued) | ||||||||
| National Fuel Gas | 11,018 | $ | 537,017 | |||||
| New Jersey Resources | 13,372 | 556,409 | ||||||
| Northwest Natural Holding | 14,417 | 529,681 | ||||||
| Northwestern Energy Group | 10,974 | 525,874 | ||||||
| OGE Energy | 17,181 | 565,427 | ||||||
| ONE Gas | 7,692 | 458,443 | ||||||
| Otter Tail | 6,644 | 601,016 | ||||||
| PNM Resources | 13,441 | 490,731 | ||||||
| Portland General Electric | 12,786 | 513,614 | ||||||
| SJW Group | 8,603 | 473,681 | ||||||
| Southern | 8,783 | 590,657 | ||||||
| Spire | 9,805 | 581,632 | ||||||
| Unitil | 11,922 | 607,545 | ||||||
| Vistra | 18,638 | 1,016,517 | ||||||
| WEC Energy Group | 6,828 | 535,930 | ||||||
| 16,380,195 | ||||||||
| Total Common Stock | ||||||||
| (Cost $140,464,512) | 148,284,922 | |||||||
| SHORT-TERM INVESTMENT — 0.3% | ||||||||
| Invesco Government & Agency Portfolio, Institutional Class Class, 5.24%(A) | 435,689 | 435,689 | ||||||
| Total Short-Term Investment (Cost $435,689) | 435,689 | |||||||
| Total Investments - 99.6% | ||||||||
| (Cost $140,900,201) | $ | 148,720,611 | ||||||
Percentages are based on Net Assets of $149,315,858.
| * | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | The rate reported is the 7-day effective yield as of February 29, 2024. |
| Cl — Class |
| PLC — Public Limited Company |
| REIT — Real Estate Investment Trust |
MER-QH-001-0800
5
ETC 6 Meridian
Mega Cap Equity ETF
Schedule of Investments
February 29, 2024 (Unaudited)
| Description | Shares | Fair Value | ||||||
| COMMON STOCK — 99.7% | ||||||||
| Communication Services — 9.6% | ||||||||
| Alphabet, Cl A* | 40,426 | $ | 5,597,384 | |||||
| Comcast, Cl A | 61,057 | 2,616,292 | ||||||
| Meta Platforms, Cl A | 14,455 | 7,084,830 | ||||||
| Netflix* | 5,027 | 3,030,879 | ||||||
| T-Mobile US | 17,558 | 2,867,221 | ||||||
| 21,196,606 | ||||||||
| Consumer Discretionary — 10.9% | ||||||||
| Amazon.com* | 35,827 | 6,332,781 | ||||||
| Booking Holdings* | 801 | 2,778,533 | ||||||
| General Motors | 73,403 | 3,008,055 | ||||||
| Home Depot | 7,924 | 3,015,954 | ||||||
| Lowe's | 12,955 | 3,117,879 | ||||||
| McDonald's | 9,571 | 2,797,412 | ||||||
| Tesla* | 15,107 | 3,049,801 | ||||||
| 24,100,415 | ||||||||
| Consumer Staples — 19.1% | ||||||||
| Altria Group | 136,783 | 5,595,793 | ||||||
| Coca-Cola | 93,581 | 5,616,732 | ||||||
| Colgate-Palmolive | 66,263 | 5,733,074 | ||||||
| Costco Wholesale | 4,050 | 3,012,755 | ||||||
| Kraft Heinz | 151,128 | 5,331,796 | ||||||
| Mondelez International, Cl A | 37,277 | 2,723,830 | ||||||
| PepsiCo | 33,236 | 5,495,240 | ||||||
| Procter & Gamble | 17,924 | 2,848,841 | ||||||
| Walmart | 101,715 | 5,961,516 | ||||||
| 42,319,577 | ||||||||
| Energy — 7.9% | ||||||||
| Chevron | 38,587 | 5,865,610 | ||||||
| ConocoPhillips | 51,235 | 5,765,987 | ||||||
| Exxon Mobil | 55,733 | 5,825,213 | ||||||
| 17,456,810 | ||||||||
| Financials — 6.6% | ||||||||
| American Express | 14,039 | 3,080,436 | ||||||
| Berkshire Hathaway, Cl B* | 7,382 | 3,022,191 | ||||||
| Capital One Financial | 21,203 | 2,917,745 | ||||||
| Citigroup | 50,895 | 2,824,164 | ||||||
| Morgan Stanley | 32,863 | 2,827,533 | ||||||
| 14,672,069 | ||||||||
| Health Care — 15.9% | ||||||||
| AbbVie | 34,051 | 5,994,679 | ||||||
| CVS Health | 38,598 | 2,870,533 | ||||||
| Eli Lilly | 12,960 | 9,767,693 | ||||||
| Gilead Sciences | 73,011 | 5,264,093 | ||||||
| Johnson & Johnson | 18,017 | 2,907,583 | ||||||
| Medtronic PLC | 32,389 | 2,699,947 | ||||||
| Description | Shares | Fair Value | ||||||
| Health Care (continued) | ||||||||
| Merck | 22,576 | $ | 2,870,538 | |||||
| UnitedHealth Group | 5,626 | 2,776,994 | ||||||
| 35,152,060 | ||||||||
| Industrials — 8.2% | ||||||||
| Caterpillar | 9,273 | 3,096,811 | ||||||
| Deere | 7,247 | 2,645,517 | ||||||
| Emerson Electric | 30,430 | 3,251,446 | ||||||
| General Electric | 21,071 | 3,305,829 | ||||||
| Lockheed Martin | 6,638 | 2,842,657 | ||||||
| United Parcel Service, Cl B | 20,035 | 2,970,389 | ||||||
| 18,112,649 | ||||||||
| Information Technology — 20.1% | ||||||||
| Accenture PLC, Cl A | 7,692 | 2,882,808 | ||||||
| Adobe* | 9,088 | 5,091,825 | ||||||
| Advanced Micro Devices* | 16,736 | 3,222,182 | ||||||
| Apple | 30,539 | 5,519,924 | ||||||
| Broadcom | 2,377 | 3,091,265 | ||||||
| Cisco Systems | 56,859 | 2,750,270 | ||||||
| International Business Machines | 15,266 | 2,824,668 | ||||||
| Microsoft | 7,066 | 2,922,780 | ||||||
| NVIDIA | 9,054 | 7,162,800 | ||||||
| QUALCOMM | 20,219 | 3,190,356 | ||||||
| Salesforce* | 10,053 | 3,104,567 | ||||||
| Texas Instruments | 17,866 | 2,989,518 | ||||||
| 44,752,963 | ||||||||
| Real Estate — 1.4% | ||||||||
| Simon Property Group‡ | 20,467 | 3,031,981 | ||||||
| Total Common Stock | ||||||||
| (Cost $193,910,651) | 220,795,130 | |||||||
| SHORT-TERM INVESTMENT — 0.2% | ||||||||
| Invesco Government & Agency Portfolio, Institutional Class Class, 5.24%(A) | 503,041 | 503,041 | ||||||
| Total Short-Term Investment (Cost $503,041) | 503,041 | |||||||
| Total Investments - 99.9% | ||||||||
| (Cost $194,413,692) | $ | 221,298,171 | ||||||
Percentages are based on Net Assets of $221,523,226
| * | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | The rate reported is the 7-day effective yield as of February 29, 2024. |
6
6 Meridian
Mega Cap Equity ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Concluded)
| Cl — Class |
| PLC — Public Limited Company |
MER-QH-001-0800
7
ETC 6 Meridian
Small Cap Equity ETF
Schedule of Investments
February 29, 2024 (Unaudited)
| Description | Shares | Fair Value | ||||||
| COMMON STOCK — 99.7% | ||||||||
| Communication Services — 3.7% | ||||||||
| ATN International | 20,918 | $ | 701,590 | |||||
| Madison Square Garden Sports* | 6,793 | 1,278,374 | ||||||
| Scholastic | 18,002 | 709,999 | ||||||
| 2,689,963 | ||||||||
| Consumer Discretionary — 16.1% | ||||||||
| Buckle | 21,948 | 898,551 | ||||||
| Century Communities | 10,587 | 913,552 | ||||||
| Ethan Allen Interiors | 22,122 | 739,538 | ||||||
| M* | 8,307 | 1,054,907 | ||||||
| MDC Holdings | 15,869 | 994,987 | ||||||
| Meritage Homes | 5,450 | 859,247 | ||||||
| Movado Group | 28,610 | 821,393 | ||||||
| Patrick Industries | 9,302 | 1,115,682 | ||||||
| Perdoceo Education | 56,542 | 1,007,013 | ||||||
| Strategic Education | 10,454 | 1,158,199 | ||||||
| Stride* | 20,141 | 1,203,424 | ||||||
| Tri Pointe Homes* | 25,716 | 909,832 | ||||||
| 11,676,325 | ||||||||
| Consumer Staples — 12.5% | ||||||||
| Andersons | 14,953 | 826,602 | ||||||
| Cal-Maine Foods | 22,817 | 1,311,748 | ||||||
| Edgewell Personal Care | 19,078 | 728,589 | ||||||
| Fresh Del Monte Produce | 28,464 | 681,144 | ||||||
| J & J Snack Foods | 4,502 | 653,150 | ||||||
| John B Sanfilippo & Son | 7,288 | 746,073 | ||||||
| Medifast | 13,575 | 544,222 | ||||||
| National Beverage* | 14,628 | 770,018 | ||||||
| SpartanNash | 35,489 | 747,753 | ||||||
| Tootsie Roll Industries | 22,946 | 746,208 | ||||||
| TreeHouse Foods* | 15,168 | 542,863 | ||||||
| Universal | 15,881 | 762,447 | ||||||
| 9,060,817 | ||||||||
| Energy — 12.7% | ||||||||
| California Resources | 15,112 | 788,393 | ||||||
| Civitas Resources | 10,885 | 747,582 | ||||||
| Comstock Resources | 65,248 | 557,870 | ||||||
| CONSOL Energy | 9,786 | 839,835 | ||||||
| CVR Energy | 21,475 | 712,541 | ||||||
| Dorian LPG | 28,199 | 1,019,393 | ||||||
| FutureFuel | 81,510 | 483,354 | ||||||
| Par Pacific Holdings* | 24,615 | 889,094 | ||||||
| RPC | 94,511 | 698,436 | ||||||
| SM Energy | 21,130 | 924,860 | ||||||
| US Silica Holdings* | 61,869 | 711,494 | ||||||
| World Kinect | 35,827 | 872,746 | ||||||
| 9,245,598 | ||||||||
| Description | Shares | Fair Value | ||||||
| Financials — 12.2% | ||||||||
| Ambac Financial Group* | 56,379 | $ | 922,360 | |||||
| AMERISAFE | 14,704 | 775,783 | ||||||
| Bread Financial Holdings | 20,891 | 799,707 | ||||||
| Employers Holdings | 20,178 | 922,336 | ||||||
| Enova International* | 14,587 | 922,628 | ||||||
| Genworth Financial, Cl A* | 131,587 | 809,260 | ||||||
| Horace Mann Educators | 27,703 | 1,002,572 | ||||||
| Mr Cooper Group* | 13,272 | 946,028 | ||||||
| Radian Group | 28,683 | 835,823 | ||||||
| Safety Insurance Group | 10,905 | 895,955 | ||||||
| 8,832,452 | ||||||||
| Health Care — 16.4% | ||||||||
| Addus HomeCare* | 8,320 | 767,770 | ||||||
| Amphastar Pharmaceuticals* | 12,494 | 581,846 | ||||||
| Corcept Therapeutics* | 25,230 | 592,905 | ||||||
| Cross Country Healthcare* | 35,827 | 654,559 | ||||||
| Dynavax Technologies* | 58,865 | 745,820 | ||||||
| Enhabit* | 58,299 | 524,691 | ||||||
| Harmony Biosciences Holdings* | 24,207 | 777,045 | ||||||
| HealthStream | 34,135 | 931,203 | ||||||
| Innoviva* | 120,150 | 1,835,891 | ||||||
| Ironwood Pharmaceuticals, Cl A* | 143,831 | 1,356,325 | ||||||
| LeMaitre Vascular | 13,774 | 964,180 | ||||||
| Prestige Consumer Healthcare* | 11,850 | 824,522 | ||||||
| Supernus Pharmaceuticals* | 24,745 | 734,927 | ||||||
| Vanda Pharmaceuticals* | 139,755 | 624,705 | ||||||
| 11,916,389 | ||||||||
| Industrials — 9.0% | ||||||||
| Boise Cascade | 7,166 | 973,931 | ||||||
| Encore Wire | 4,774 | 1,150,534 | ||||||
| Matson | 8,208 | 911,498 | ||||||
| Mueller Industries | 20,065 | 1,030,940 | ||||||
| Resources Connection | 48,836 | 675,402 | ||||||
| Titan International* | 68,538 | 874,545 | ||||||
| Wabash National | 32,992 | 900,022 | ||||||
| 6,516,872 | ||||||||
| Information Technology — 2.6% | ||||||||
| Agilysys* | 10,775 | 838,295 | ||||||
| Insight Enterprises* | 5,662 | 1,064,456 | ||||||
| 1,902,751 | ||||||||
| Materials — 3.8% | ||||||||
| AdvanSix | 20,013 | 559,964 | ||||||
| Olympic Steel | 15,545 | 1,057,371 | ||||||
| Warrior Met Coal | 20,617 | 1,174,550 | ||||||
| 2,791,885 | ||||||||
| Real Estate — 5.0% | ||||||||
| CareTrust‡ | 38,094 | 859,401 | ||||||
| Community Healthcare Trust‡ | 21,870 | 593,552 | ||||||
8
ETC 6 Meridian
Small Cap Equity ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Concluded)
| Description | Shares | Fair Value | ||||||
| Real Estate (continued) | ||||||||
| Four Corners Property Trust‡ | 30,996 | $ | 749,483 | |||||
| Getty Realty‡ | 25,245 | 665,458 | ||||||
| LTC Properties‡ | 23,402 | 736,227 | ||||||
| 3,604,121 | ||||||||
| Utilities — 5.7% | ||||||||
| American States Water | 9,171 | 654,901 | ||||||
| Avista | 20,879 | 693,183 | ||||||
| Chesapeake Utilities | 6,854 | 699,314 | ||||||
| Northwest Natural Holding | 18,553 | 681,637 | ||||||
| SJW Group | 11,451 | 630,492 | ||||||
| Unitil | 15,896 | 810,060 | ||||||
| 4,169,587 | ||||||||
| Total Common Stock | ||||||||
| (Cost $68,265,103) | 72,406,760 | |||||||
| SHORT-TERM INVESTMENT — 0.3% | ||||||||
| Invesco Government & Agency Portfolio, Institutional Class Class, 5.24%(A) | 225,153 | 225,153 | ||||||
| Total Short-Term Investment (Cost $225,153) | 225,153 | |||||||
| Total Investments - 100.0% | ||||||||
| (Cost $68,490,256) | $ | 72,631,913 | ||||||
Percentages are based on Net Assets of $72,636,380
| * | Non-income producing security. |
| ‡ | Real Estate Investment Trust |
| (A) | The rate reported is the 7-day effective yield as of February 29, 2024. |
| Cl — Class |
MER-QH-001-0800
9
ETC 6 Meridian
Quality Growth ETF
Schedule of Investments
February 29, 2024 (Unaudited)
| Description | Shares | Fair Value | ||||||
| COMMON STOCK†† — 100.0% | ||||||||
| Communication Services — 4.5% | ||||||||
| Alphabet, Cl A* | 11,232 | $ | 1,555,183 | |||||
| Cargurus, Cl A* | 1,764 | 39,055 | ||||||
| Yelp, Cl A* | 826 | 31,751 | ||||||
| 1,625,989 | ||||||||
| Consumer Discretionary — 5.7% | ||||||||
| Cavco Industries* | 109 | 40,610 | ||||||
| Deckers Outdoor* | 334 | 299,127 | ||||||
| Grand Canyon Education* | 391 | 52,707 | ||||||
| Home Depot | 90 | 34,255 | ||||||
| Lululemon Athletica* | 1,604 | 749,212 | ||||||
| Murphy USA | 267 | 111,342 | ||||||
| NVR* | 41 | 312,649 | ||||||
| Skyline Champion* | 698 | 58,485 | ||||||
| Ulta Beauty* | 668 | 366,438 | ||||||
| XPEL* | 273 | 14,354 | ||||||
| 2,039,179 | ||||||||
| Consumer Staples — 4.1% | ||||||||
| Cal-Maine Foods | 623 | 35,816 | ||||||
| Celsius Holdings* | 2,198 | 179,401 | ||||||
| Coca-Cola Consolidated | 62 | 52,130 | ||||||
| Kimberly-Clark | 4,599 | 557,261 | ||||||
| Lancaster Colony | 263 | 54,420 | ||||||
| Monster Beverage* | 10,034 | 593,009 | ||||||
| National Beverage* | 313 | 16,476 | ||||||
| 1,488,513 | ||||||||
| Energy — 1.8% | ||||||||
| Cheniere Energy | 3,121 | 484,379 | ||||||
| Crescent Energy, Cl A | 1,665 | 18,615 | ||||||
| Par Pacific Holdings* | 737 | 26,620 | ||||||
| Texas Pacific Land | 68 | 107,129 | ||||||
| 636,743 | ||||||||
| Financials — 11.6% | ||||||||
| Apollo Global Management | 4,925 | 550,615 | ||||||
| Kinsale Capital Group | 293 | 151,241 | ||||||
| Mastercard, Cl A | 3,406 | 1,617,033 | ||||||
| PJT Partners | 504 | 53,122 | ||||||
| StoneCo, Cl A* | 3,807 | 65,518 | ||||||
| Visa, Cl A | 6,116 | 1,728,626 | ||||||
| 4,166,155 | ||||||||
| Health Care — 23.0% | ||||||||
| Axonics* | 686 | 46,607 | ||||||
| Catalyst Pharmaceuticals* | 1,301 | 20,855 | ||||||
| Cencora, Cl A | 2,336 | 550,362 | ||||||
| Chemed | 204 | 127,731 | ||||||
| Corcept Therapeutics* | 944 | 22,184 | ||||||
| Description | Shares | Fair Value | ||||||
| Health Care (continued) | ||||||||
| CorVel* | 124 | $ | 30,256 | |||||
| Dynavax Technologies* | 1,560 | 19,765 | ||||||
| Edwards Lifesciences* | 8,204 | 696,273 | ||||||
| Humana | 1,618 | 566,817 | ||||||
| IDEXX Laboratories* | 1,135 | 652,886 | ||||||
| Incyte* | 2,538 | 148,118 | ||||||
| Inmode* | 935 | 20,570 | ||||||
| Inspire Medical Systems* | 409 | 73,227 | ||||||
| Intuitive Surgical* | 3,869 | 1,491,887 | ||||||
| Ironwood Pharmaceuticals, Cl A* | 1,798 | 16,955 | ||||||
| Karuna Therapeutics* | 470 | 147,566 | ||||||
| Lantheus Holdings* | 1,023 | 66,884 | ||||||
| Neurocrine Biosciences* | 1,341 | 174,866 | ||||||
| Regeneron Pharmaceuticals* | 1,365 | 1,318,713 | ||||||
| Shockwave Medical* | 501 | 130,696 | ||||||
| Veeva Systems, Cl A* | 2,176 | 490,710 | ||||||
| Vertex Pharmaceuticals* | 3,464 | 1,457,443 | ||||||
| 8,271,371 | ||||||||
| Industrials — 11.4% | ||||||||
| Atkore | 549 | 93,001 | ||||||
| Cintas | 1,166 | 732,960 | ||||||
| Copart* | 11,572 | 615,052 | ||||||
| Expeditors International of Washington | 2,047 | 244,821 | ||||||
| Exponent | 685 | 55,410 | ||||||
| Fastenal | 7,800 | 569,478 | ||||||
| Graco | 2,248 | 205,152 | ||||||
| Landstar System | 486 | 92,437 | ||||||
| Mueller Industries | 1,500 | 77,070 | ||||||
| Old Dominion Freight Line | 1,337 | 591,596 | ||||||
| Rollins | 3,561 | 156,933 | ||||||
| UFP Industries | 796 | 91,245 | ||||||
| WW Grainger | 603 | 586,996 | ||||||
| 4,112,151 | ||||||||
| Information Technology — 37.7% | ||||||||
| Accenture PLC, Cl A | 4,209 | 1,577,449 | ||||||
| Adobe* | 2,510 | 1,406,303 | ||||||
| Allegro MicroSystems* | 998 | 31,427 | ||||||
| Apple | 8,259 | 1,492,814 | ||||||
| Arista Networks* | 3,207 | 890,071 | ||||||
| Autodesk* | 2,927 | 755,664 | ||||||
| Axcelis Technologies* | 453 | 51,040 | ||||||
| Badger Meter | 389 | 61,730 | ||||||
| Cadence Design Systems* | 3,583 | 1,090,594 | ||||||
| CommVault Systems* | 575 | 55,033 | ||||||
| Fortinet* | 11,355 | 784,744 | ||||||
| KLA | 1,824 | 1,244,514 | ||||||
| Lattice Semiconductor* | 1,802 | 138,051 | ||||||
| Manhattan Associates* | 818 | 207,224 | ||||||
10
ETC 6 Meridian
Quality Growth ETF
Schedule of Investments
February 29, 2024 (Unaudited) (Concluded)
| Description | Shares | Fair Value | ||||||
| Information Technology (continued) | ||||||||
| Monolithic Power Systems | 600 | $ | 432,024 | |||||
| PDF Solutions* | 447 | 15,194 | ||||||
| Power Integrations | 797 | 56,954 | ||||||
| Pure Storage, Cl A* | 3,866 | 203,545 | ||||||
| Qualys* | 454 | 78,024 | ||||||
| Rambus* | 1,459 | 86,431 | ||||||
| ServiceNow* | 2,205 | 1,700,805 | ||||||
| SPS Commerce* | 489 | 90,543 | ||||||
| Synopsys* | 2,032 | 1,165,819 | ||||||
| 13,615,997 | ||||||||
| Materials — 0.2% | ||||||||
| Alpha Metallurgical Resources | 163 | 61,492 | ||||||
| Real Estate — 0.0% | ||||||||
| eXp World Holdings | 1,027 | 13,454 | ||||||
| Total Common Stock | ||||||||
| (Cost $28,590,672) | 36,031,044 | |||||||
| SHORT-TERM INVESTMENT — 0.1% | ||||||||
| Invesco Government & Agency Portfolio, Institutional Class Class, 5.24%(A) | 25,852 | 25,852 | ||||||
| Total Short-Term Investment (Cost $25,852) | 25,852 | |||||||
| Total Investments - 100.1% | ||||||||
| (Cost $28,616,524) | $ | 36,056,896 | ||||||
Percentages are based on Net Assets of $36,032,646.
| †† | Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting. |
| * | Non-income producing security. |
| (A) | The rate reported is the 7-day effective yield as of February 29, 2024. |
| Cl — Class |
| PLC — Public Limited Company |
MER-QH-001-0800
11