NPORT-EX 2 emrgngshrehldryldetf-nport.htm N-PORT EX

Sector Weightings
      
Cambria Emerging Shareholder Yield ETF
      
Information Technology
    
23.3
%
Energy
    
17.7
%
Financials
    
16.2
%
Materials
    
12.0
%
Consumer Discretionary
    
10.4
%
Industrials
    
9.4
%
Utilities
    
4.3
%
Consumer Staples
    
3.4
%
Health Care
    
2.2
%
Real Estate
    
1.1
%
     
100.0
%
Cambria Emerging Shareholder Yield ETF
Schedule of Investments
January 31, 2024 (Unaudited)
 

   
Shares
    
Value
Common Stocks - 98.8%
Brazil - 5.3%
    
Cia de Saneamento de Minas Gerais Copasa MG
  
584,800
   $
 2,515,358
Cielo SA
  
2,735,600
    
   2,722,127
Petroleo Brasileiro SA
  
361,200
    
   3,099,187
Telefonica Brasil SA
  
235,000
    
   2,433,292
Ultrapar Participacoes SA
  
619,200
    
   3,521,931
         
   14,291,895
             
China - 17.6%
    
Anhui Conch Cement Co. Ltd. - Class H
  
602,000
    
   1,207,396
Bank of Communications Co. Ltd. - Class H
  
4,300,000
    
   2,541,075
China Coal Energy Co. Ltd. - Class H
  
2,924,000
    
   3,201,535
China Petroleum & Chemical Corp. - Class H
  
5,598,000
    
   2,907,141
China Shenhua Energy Co. Ltd. - Class H
  
1,204,000
    
   4,550,834
Dongfeng Motor Group Co. Ltd. - Class H
  
5,588,000
    
   2,158,591
E-Commodities Holdings Ltd.
  
12,384,000
    
   2,344,390
Fufeng Group Ltd.
  
4,816,000
    
   2,611,917
Huadian Power International Corp. Ltd. - Class H
  
7,750,000
    
   3,717,407
JNBY Design Ltd.
  
1,634,000
    
   2,090,062
Lonking Holdings Ltd.
  
7,396,000
    
   1,191,995
People's Insurance Co. Group of China Ltd. - Class H
  
8,231,000
    
   2,558,386
PetroChina Co. Ltd. - Class H
  
5,046,000
    
   3,646,723
SciClone Pharmaceuticals Holdings Ltd. (a)
  
1,474,000
    
   2,092,799
Shenzhen Expressway Corp. Ltd. - Class H
  
2,408,000
    
   1,931,217
Tianli International Holdings Ltd.
  
9,460,000
    
   3,654,308
Yankuang Energy Group Co. Ltd. - Class H
  
2,064,000
    
   4,234,685
         
   46,640,461
             
Czech Republic - 0.9%
    
CEZ AS
  
62,753
    
   2,377,416
             
Hong Kong - 0.9%
    
China Medical System Holdings Ltd.
  
1,720,000
    
   2,464,073
             
India - 8.3%
    
Bank of Baroda
  
771,696
    
   2,300,859
Coal India Ltd.
  
829,518
    
   4,057,003
Indian Bank
  
833,031
    
   5,004,080
Oil & Natural Gas Corp. Ltd.
  
1,216,332
    
   3,694,676
Oil India Ltd.
  
823,446
    
   4,229,093
Vedanta Ltd.
  
878,370
    
   2,896,565
         
   22,182,276
             
Indonesia - 1.4%
    
Indo Tambangraya Megah Tbk PT
  
1,066,400
    
   1,828,018
United Tractors Tbk PT
  
1,204,000
    
   1,751,065
         
   3,579,083
             
Mexico - 4.0%
    
Arca Continental SAB de CV
  
344,000
    
   3,910,986
Banco del Bajio SA (a)
  
997,600
    
   3,807,474
GCC SAB de CV
  
292,400
    
   3,395,350
         
   11,113,810
             
Poland - 2.6%
    
Powszechna Kasa Oszczednosci Bank Polski SA
  
276,112
    
   3,516,779
Powszechny Zaklad Ubezpieczen SA
  
290,936
    
   3,513,771
         
   7,030,550
             
Russia - 0.0%(c)
    
Alrosa PJSC(d)
  
538,800
    
   0
Federal Grid Co. Unified Energy System(b)(d)
  
328,200,000
    
   4
Gazprom Neft PJSC(d)
  
223,200
    
   0
Gazprom PJSC(d)
  
423,000
    
   0
Inter RAO UES PJSC(d)
  
11,040,000
    
   0
LUKOIL PJSC(d)
  
17,160
    
   0
Magnitogorsk Iron & Steel Works PJSC(c)(d)
  
1,560,000
    
   0
NovaBev Group PJSC(d)
  
20,340
    
   0
Novolipetsk Steel PJSC(b)(d)
  
458,400
    
   0
OGK-2 PJSC(d)
  
94,200,000
    
   1
Sberbank of Russia PJSC(d)
  
276,600
    
   0
Severstal PAO(b)(d)
  
85,200
    
   0
Unipro PJSC(b)(d)
  
21,240,000
    
   0
         
   5
             
South Africa - 15.0%
    
AECI Ltd.
  
474,688
    
   2,567,841
African Rainbow Minerals Ltd.
  
226,100
    
   2,239,927
Exxaro Resources Ltd.
  
208,508
    
   2,085,581
Investec Ltd.
  
553,308
    
   3,661,630
Investec PLC
  
563,036
    
   3,725,405
Kumba Iron Ore Ltd.
  
85,004
    
   2,510,779
Motus Holdings Ltd.
  
545,916
    
   3,055,205
Nedbank Group Ltd.
  
199,428
    
   2,316,763
Reunert Ltd.
  
987,482
    
   3,173,023
Sanlam Ltd.
  
636,164
    
   2,427,090
Sasol Ltd.
  
149,166
    
   1,308,295
Sibanye Stillwater Ltd.
  
1,022,936
    
   1,250,088
Thungela Resources Ltd.
  
195,176
    
   1,250,127
Tiger Brands Ltd.
  
228,738
    
   2,564,162
Truworths International Ltd.
  
1,313,082
    
   5,475,355
         
   39,611,271
             
South Korea – 12.2%
            
Aekyung Chemical Co. Ltd.
    
185,789
    
1,759,542
DB Insurance Co. Ltd.
    
43,344
    
2,854,634
Doosan Bobcat, Inc.
    
56,459
    
2,153,196
GS Holdings Corp.(b)
    
81,190
    
2,816,541
Hanmi Semiconductor Co. Ltd.
    
174,332
    
7,667,394
HD Hyundai Construction Equipment Co. Ltd.(b)
    
56,608
    
2,163,120
Kia Corp.
    
45,337
    
3,495,431
KT&G Corp.
    
39,406
    
2,674,996
LX Semicon Co. Ltd.
    
37,692
    
2,162,070
S-Oil Corp.
    
42,249
    
2,205,631
SSANGYONG C&E Co. Ltd.
    
482,601
    
2,180,410
           
32,132,965
Taiwan - 27.7%(e)
    
Asustek Computer, Inc.
  
344,000
    
   4,896,308
Catcher Technology Co. Ltd.
  
516,000
    
   3,206,505
Chicony Electronics Co. Ltd.
  
860,000
    
   4,519,881
China Motor Corp.
  
733,000
    
   2,681,465
Dimerco Express Corp.
  
1,440,054
    
   4,025,774
Evergreen Marine Corp. Taiwan Ltd.
  
623,000
    
   2,995,623
Generalplus Technology, Inc.
  
1,548,000
    
   2,561,907
Global Mixed Mode Technology, Inc.
  
277,000
    
   2,177,095
Holy Stone Enterprise Co. Ltd.
  
900,000
    
   2,702,919
Huaku Development Co. Ltd.
  
860,000
    
   2,613,013
IEI Integration Corp.
  
1,376,000
    
   3,429,064
ITE Technology, Inc.
  
1,032,000
    
   5,011,709
L&K Engineering Co. Ltd.
  
522,000
    
   2,851,867
Nantex Industry Co. Ltd.
  
2,064,000
    
   2,383,859
Novatek Microelectronics Corp.
  
174,000
    
   2,840,748
O-TA Precision Industry Co. Ltd.
  
860,000
    
   2,439,911
Radiant Opto-Electronics Corp.
  
688,000
    
   3,044,394
Systex Corp.
  
860,000
    
   3,173,533
TaiDoc Technology Corp.
  
516,000
    
   2,637,742
Taiwan Semiconductor Co. Ltd.
  
813,000
    
   2,090,976
Transcend Information, Inc.
  
860,000
    
   2,165,146
Tripod Technology Corp.
  
688,000
    
   4,121,472
Utechzone Co. Ltd.
  
948,000
    
   2,271,602
Winstek Semiconductor Co. Ltd.
  
733,000
    
   2,857,106
         
   73,699,619
             
Turkey - 2.9%
    
Enerjisa Enerji AS (a)
  
2,765,652
    
   5,071,957
Turkiye Petrol Rafinerileri AS
  
514,321
    
   2,542,368
         
   7,614,325
 
Total Common Stocks (Cost $250,256,061)
    
 262,737,749
             
Rights - 0.0%(d)
  
Contracts
      
Taiwan - 0.0%(c)
    
L&K Engineering Co. Ltd., Expires 03/07/2024, Exercise Price $115.00(b)(d)
  
12,946
    
   23,162
TOTAL RIGHTS (Cost $17,609)
    
   23,162
             
Short-Term Investments - 1.0%
  
Shares
      
Money Market Funds - 1.0%
        
 
First American Treasury Obligations Fund - Class X, 5.25%(f)
  
2,782,372
    
   2,782,372
Total Short Term Investments (Cost $2,782,372)
    
   2,782,372
             
Total Investments - 99.8% (Cost $253,056,042)
    
265,543,283
Other Assets in Excess of Liabilities - 0.2%
    
650,344
Total Net Assets - 100.0%
    
 
    $
266,193,627
     
Percentages are stated as a percent of net assets.
    
AS – Turkish Joint Stock Company
    
PAO – Russian Public Stock Company
    
PJSC – Private Joint Stock Company
    

PLC - Public Limited Company
SA - Sociedad Anónima
SAB de CV - Sociedad Anónima Bursátil de Capital Variable

(a)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of January 31, 2024, the value of these securities total $10,972,230 or 4.1% of the Fund’s net assets.
(b)
Non-income producing security.
(c)
Represents less than 0.05% of net assets.
(d)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $23,167 or 0.0% of net assets as of January 31, 2024.
(e)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(f)
The rate shown represents the 7-day effective yield as of January 31, 2024.

Cambria Emerging Shareholder Yield ETF
  
   
Level 1
    
Level 2
    
Level 3 (a)
    
Total
  
Investments:
                        
  Common Stocks
                        
        Brazil
  
$
14,291,895
    
$
–
    
$
–
    
$
14,291,895
  
        China
    
46,640,461
      
–
      
–
      
46,640,461
  
        Czech Republic
    
2,377,416
      
–
      
–
      
2,377,416
  
        Hong Kong
    
2,464,073
      
–
      
–
      
2,464,073
  
        India
    
22,182,276
      
–
      
–
      
22,182,276
  
        Indonesia
    
3,579,083
      
–
      
–
      
3,579,083
  
        Mexico
    
11,113,810
      
–
      
–
      
11,113,810
  
        Poland
    
7,030,550
      
–
      
–
      
7,030,550
  
        Russia
    
–
      
–
      
5
      
5
  
        South Africa
    
39,611,271
      
–
      
–
      
39,611,271
  
        South Korea
    
32,132,965
      
–
      
–
      
32,132,965
  
        Taiwan
    
73,699,619
      
–
      
–
      
73,699,619
  
        Turkey
    
7,614,325
      
–
      
–
      
7,614,325
  
  Common Stocks - Total
  
$
262,737,744
    
$
–
    
$
5
    
$
262,737,749
  
  Rights
    
–
      
–
      
23,162
      
23,162
  
  Short-Term Investments
    
2,782,372
      
–
      
–
      
2,782,372
  
Total Investments
  
$
265,520,116
    
$
–
    
$
23,167
    
$
265,543,283
  
                                 
   

(a)
 A reconciliation of Level 3 investments is presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.