W R Berkley Corp

NOTE 1 SIGNIFICANT ACCOUNTING POLICIES

A. Valuation:

All equity securities, including domestic common stocks, preferred stocks, real estate investment trusts, exchange-traded funds and exchange-traded notes, that are traded on a national securities exchange, except those listed on the Nasdaq Global Market, Nasdaq Global Select Market and Nasdaq Capital Market (collectively Nasdaq) are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on Nasdaq are valued at the Nasdaq Official Closing Price (NOCP). If, on a particular day, an exchange-traded or Nasdaq security does not trade, then the mean between the most recent quoted bid and asked prices is used. All equity securities that are not traded on a listed exchange are valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price is used.

Investment in mutual funds, including money market funds, are valued at their net asset value (NAV) per share.

Shares in privately offered liquidity funds are valued at their NAV per share.

Short-term securities that have maturities of less than 60 days at the time of purchase are valued at amortized cost, which, when combined with accrued interest, approximates fair value.

Securities for which quotations are not readily available are valued by the Trusts valuation committee based on the valuation procedures adopted by the Board (the Valuation Procedures) and information it receives from the Sub-Advisor and U.S. Bancorp Fund Services, LLC doing business as U.S. Bank Global Fund Services (Fund Services). When a security is fair valued, consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the Valuation Procedures. The use of fair value pricing by the Funds may cause the NAV of their shares to differ significantly from the NAV that would be calculated without regard to such considerations.

As described above, the Funds utilize various methods to measure the fair value of their investments on a recurring basis. Accounting principles generally accepted in the United States of America ("U.S. GAAP") establishes a hierarchy that prioritizes inputs to valuations methods. The three levels of inputs are:

Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have 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; including the Funds Valuation Committees assumptions used in determining the fair value of investments. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The following is a summary of the inputs used to value the Funds investments as of March 31, 2024:

WBI BullBear Value 3000 ETF
	Assets^	Level 1		Level 2		Level 3		Total
	Common Stocks	$	33,810,311	$	-	$	-	$	33,810,311
	Exchange Traded Funds		3,490,498		-		-	$	3,490,498
	Investments Purchased with Proceeds from Securities Lending		-		7,635,743		-		7,635,743
	Total Investments in Securities, at value	$	37,300,809	$	7,635,743	$	-	$	44,936,552

WBI BullBear Yield 3000 ETF
	Assets^	Level 1		Level 2		Level 3		Total
	Common Stocks	$	44,264,306	$	-	$	-	$	44,264,306
	Exchange Traded Funds		4,934,949		-		-		4,934,949
	Closed End Funds		940,272		-		-		940,272
	Investments Purchased with Proceeds from Securities Lending		-		5,516,772		-		5,516,772
	Total Investments in Securities, at value	$	50,139,527	$	5,516,772	$	-	$	55,656,299

WBI Bullbear Quality 3000 ETF
	Assets^	Level 1		Level 2		Level 3		Total
	Common Stocks	$	39,410,193	$	-	$	-	$	39,410,193
	Exchange Traded Funds		4,332,418		-		-		4,332,418
	Investments Purchased with Proceeds from Securities Lending		-		4,666,903		-		4,666,903
	Total Investments in Securities, at value	$	43,742,611	$	4,666,903	$	-	$	48,409,514

WBI Power Factor High Dividend ETF
	Assets^	Level 1		Level 2		Level 3		Total
	Common Stocks	$	64,634,636	$	-	$	-	$	64,634,636
	Investments Purchased with Proceeds from Securities Lending		-		11,365,426		-		11,365,426
	Total Investments in Securities, at value	$	64,634,636	$	11,365,426	$	-	$	76,000,062

	^ See Schedules of Investments for breakout of investments by industry group classification.

	During the period ended March 31, 2024, the Funds did not recognize any transfers to or from Level 3.

WBI BullBear Yield 3000 ETF
Schedule of Investments
as of March 31, 2024 (Unaudited)

COMMON STOCKS - 87.7%	Shares		Value
Capital Goods - 1.3%
Carrier Global Corp.^(a)		11,669	$	678,319

Commercial & Professional Services - 4.0%
Verisk Analytics, Inc.^(a)		8,554		2,016,434

Consumer Discretionary Distribution & Retail - 5.7%
Dick's Sporting Goods, Inc.^(a)		3,858		867,510
TJX Cos., Inc.		19,772		2,005,276
				2,872,786

Consumer Durables & Apparel - 11.6%
Deckers Outdoor Corp.^(b)		2,517		2,369,152
Garmin Ltd.		16,886		2,513,819
Hasbro, Inc.		18,133		1,024,877
				5,907,848

Consumer Services - 4.2%
Marriott International, Inc. - Class A		8,428		2,126,469

Energy - 4.3%
ONEOK, Inc.^(a)		12,988		1,041,248
Viper Energy, Inc.		29,322		1,127,724
				2,168,972

Financial Services - 8.0%
Franklin Resources, Inc.^(a)		31,641		889,429
OneMain Holdings, Inc.^(a)		18,454		942,815
T Rowe Price Group, Inc.		8,396		1,023,640
Tradeweb Markets, Inc. - Class A		11,517		1,199,725
				4,055,609

Food, Beverage & Tobacco - 7.5%
Altria Group, Inc.		22,411		977,567
General Mills, Inc.		14,573		1,019,672
Kraft Heinz Co.		24,284		896,080
Philip Morris International, Inc.		9,742		892,562
				3,785,881

Health Care Equipment & Services - 2.8%
CVS Health Corp.		11,611		926,094
Universal Health Services, Inc. - Class B^(a)		2,594		473,301
				1,399,395

Household & Personal Products - 1.9%
Kimberly-Clark Corp.		7,465		965,598

Insurance - 16.0%
Aon PLC - Class A		2,057		686,462
Prudential Financial, Inc.		8,871		1,041,455
Reinsurance Group of America, Inc.		7,776		1,499,835
Unum Group		44,055		2,363,991
W R Berkley Corp.		27,559		2,437,318
				8,029,061

Materials - 2.0%
LyondellBasell Industries NV - Class A		9,754		997,639

Pharmaceuticals, Biotechnology & Life Sciences - 5.8%
AbbVie, Inc.		5,584		1,016,847
Bristol-Myers Squibb Co.		18,163		984,979
Viatris, Inc.^(a)		76,039		907,906
				2,909,732

Semiconductors & Semiconductor Equipment - 3.9%
NXP Semiconductors NV		7,887		1,954,162

Software & Services - 6.9%
International Business Machines Corp.		5,707		1,089,809
Microsoft Corp.		5,681		2,390,110
				3,479,919

Technology Hardware & Equipment - 1.8%
HP, Inc.		30,327		916,482
TOTAL COMMON STOCKS (Cost $40,311,646)				44,264,306

EXCHANGE TRADED FUNDS - 9.8%	Shares		Value
SPDR Bloomberg Short Term High Yield Bond ETF		195,676		4,934,949
TOTAL EXCHANGE TRADED FUNDS (Cost $4,926,496)				4,934,949

CLOSED END FUNDS - 1.9%	Shares		Value
Blue Owl Capital Corp.^(a)		61,136		940,272
TOTAL CLOSED END FUNDS (Cost $916,563)				940,272

SHORT-TERM INVESTMENTS - 10.9%
Investments Purchased with Proceeds from Securities Lending - 10.9%	Units
Mount Vernon Liquid Assets Portfolio, LLC^(c)		5,516,772		5,516,772

TOTAL SHORT-TERM INVESTMENTS (Cost $5,516,772)				5,516,772

TOTAL INVESTMENTS - 110.3% (Cost $51,671,477)			$	55,656,299
Money Market Deposit Account - 5.9%^(d)				2,992,643
Liabilities in Excess of Other Assets - (16.2)%				(8,182,902	)
TOTAL NET ASSETS - 100.0%			$	50,466,040

Percentages are stated as a percent of net assets.

The Global Industry Classification Standard (GICS) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poors Financial Services LLC (S&P). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

(b)	Non-income producing security.
(c)	The rate shown represents the 7-day effective yield as of March 31, 2024.
(d)	The U.S. Bank Money Market Deposit Account (the MMDA) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2024 was 3.27%.