|
B.A.D. ETF
|
||||||||
|
Schedule of Investments
|
||||||||
|
August 31, 2023 (Unaudited)
|
||||||||
|
Shares
|
Value
|
|||||||
|
COMMON STOCKS - 99.7%
|
||||||||
|
Beverages-Wine/Spirits — 13.4%
|
||||||||
|
Brown-Forman Corp. - Class B
|
4,428
|
$
|
292,824
|
|||||
|
Cia Cervecerias Unidas SA - ADR (b)
|
18,167
|
267,600
|
||||||
|
Diageo PLC - ADR (b)
|
1,705
|
282,433
|
||||||
|
MGP Ingredients, Inc.
|
2,850
|
341,715
|
||||||
|
The Duckhorn Portfolio, Inc. (a)
|
21,105
|
262,546
|
||||||
|
1,447,118
|
||||||||
|
Brewery — 13.6%
|
||||||||
|
Ambev SA - ADR (b)
|
96,889
|
268,383
|
||||||
|
Anheuser-Busch InBev SA/NV - ADR (b)
|
5,270
|
299,810
|
||||||
|
Constellation Brands, Inc. - Class A
|
1,193
|
310,848
|
||||||
|
Molson Coors Beverage Co. - Class B
|
4,378
|
277,959
|
||||||
|
The Boston Beer Co., Inc. - Class A (a)
|
871
|
318,290
|
||||||
|
1,475,290
|
||||||||
|
Casino Hotels — 9.3%
|
||||||||
|
Boyd Gaming Corp.
|
2,980
|
199,273
|
||||||
|
Las Vegas Sands Corp.
|
3,561
|
195,356
|
||||||
|
Melco Resorts & Entertainment Ltd. - ADR (a)(b)
|
16,884
|
189,438
|
||||||
|
MGM Resorts International
|
4,921
|
216,426
|
||||||
|
Wynn Resorts Ltd.
|
1,984
|
201,138
|
||||||
|
1,001,631
|
||||||||
|
Casino Services — 6.0%
|
||||||||
|
Caesars Entertainment, Inc. (a)
|
4,213
|
232,810
|
||||||
|
Everi Holdings, Inc. (a)
|
12,864
|
186,013
|
||||||
|
Light & Wonder, Inc. (a)
|
3,050
|
233,844
|
||||||
|
652,667
|
||||||||
|
Consumer Products-Misc. — 3.2%
|
||||||||
|
Cronos Group, Inc. (b)
|
171,175
|
350,909
|
||||||
|
Gambling (Non-Hotel) — 7.0%
|
||||||||
|
Golden Entertainment, Inc. (a)
|
4,475
|
162,935
|
||||||
|
International Game Technology PLC (b)
|
6,494
|
207,938
|
||||||
|
Monarch Casino & Resort, Inc.
|
2,930
|
197,482
|
||||||
|
Red Rock Resorts, Inc. - Class A
|
4,192
|
184,154
|
||||||
|
752,509
|
||||||||
|
Internet Gambling— 6.1%
|
||||||||
|
DraftKings, Inc. - Class A (a)
|
8,015
|
237,645
|
||||||
|
Genius Sports Ltd. (a)(b)
|
34,336
|
227,991
|
||||||
|
Sportradar Holding AG - Class A (a)(b)
|
16,654
|
191,854
|
||||||
|
657,490
|
||||||||
|
Medical-Biomedical/Genetics— 14.9%
|
||||||||
|
Amgen, Inc.
|
715
|
183,283
|
||||||
|
BeiGene, Ltd. - ADR (a)(b)
|
730
|
151,512
|
||||||
|
Biogen, Inc. (a)
|
519
|
138,760
|
||||||
|
BioNTech SE - ADR (a)(b)
|
1,455
|
175,953
|
||||||
|
Genmab A/S - ADR (a)(b)
|
4,069
|
155,802
|
||||||
|
Gilead Sciences, Inc.
|
2,042
|
156,172
|
||||||
|
Moderna, Inc. (a)
|
1,263
|
142,807
|
||||||
|
Regeneron Pharmaceuticals, Inc. (a)
|
211
|
174,389
|
||||||
|
Seagen, Inc. (a)
|
812
|
167,329
|
||||||
|
Vertex Pharmaceuticals, Inc. (a)
|
477
|
166,158
|
||||||
|
1,612,165
|
||||||||
|
Medical-Drugs — 22.8%
|
||||||||
|
AbbVie, Inc.
|
1,165
|
171,208
|
||||||
|
AstraZeneca PLC - ADR (b)
|
2,123
|
143,982
|
||||||
|
Bristol-Myers Squibb Co.
|
2,449
|
150,981
|
||||||
|
Eli Lilly & Co.
|
356
|
197,295
|
||||||
|
GSK PLC - ADR (b)
|
4,555
|
160,017
|
||||||
|
Johnson & Johnson
|
989
|
159,902
|
||||||
|
Merck & Co., Inc.
|
1,457
|
158,784
|
||||||
|
Novartis AG - ADR (b)
|
1,569
|
157,653
|
||||||
|
Novo Nordisk A/S - ADR (b)
|
987
|
183,207
|
||||||
|
Pfizer, Inc.
|
4,101
|
145,093
|
||||||
|
Sanofi - ADR (b)
|
3,077
|
163,635
|
||||||
|
Takeda Pharmaceutical Co. Ltd. - ADR (b)
|
9,835
|
151,459
|
||||||
|
Tilray Brands, Inc. (a)
|
174,587
|
516,778
|
||||||
|
2,459,994
|
||||||||
|
Racetracks — 3.4%
|
||||||||
|
Churchill Downs, Inc.
|
1,453
|
182,032
|
||||||
|
Penn Entertainment, Inc. (a)
|
7,714
|
182,745
|
||||||
|
364,777
|
||||||||
|
TOTAL COMMON STOCKS (Cost $10,860,770)
|
10,774,550
|
|||||||
|
SHORT-TERM INVESTMENTS — 0.2%
|
||||||||
|
Money Market Fund — 0.2%
|
||||||||
|
First American Government Obligations Fund - Class X, 5.25% (c)
|
19,963
|
19,963
|
||||||
|
TOTAL SHORT-TERM INVESTMENTS (Cost $19,963)
|
19,963
|
|||||||
|
TOTAL INVESTMENTS (Cost $10,880,733) — 99.9%
|
10,794,513
|
|||||||
|
Other assets and liabilities, net — 0.1%
|
9,941
|
|||||||
|
NET ASSETS — 100.0%
|
10,804,454
|
|||||||
|
Percentages are stated as a percent of net assets
|
||||||||
|
ADR
|
American Depositary Receipt
|
|||||||
|
PLC
|
Public Limited Company
|
|||||||
|
(a)
|
Non-income producing security.
|
|||||||
|
(b)
|
Foreign issued security, or represents a foreign issued security.
|
|||||||
|
(c)
|
The rate shown is the seven-day yield at period end.
|
|||||||
|
Fair Value Measurements
|
||||||||
|
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels.
|
||||||||
|
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs
|
||||||||
|
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant
|
||||||||
|
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the
|
||||||||
|
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
|
||||||||
|
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3.
|
||||||||
|
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of August 31, 2023:
|
||||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
|
Investments - Assets:
|
||||||||||||||||
|
Common Stocks*
|
$
|
10,774,550
|
$
|
-
|
$
|
-
|
$
|
10,774,550
|
||||||||
|
Money Market Fund
|
19,963
|
-
|
-
|
19,963
|
||||||||||||
|
Total Investments - Assets
|
$
|
10,794,513
|
$
|
-
|
$
|
-
|
$
|
10,794,513
|
||||||||
|
* See the Schedule of Investments for industry classifications.
|
||||||||||||||||