NPORT-EX 2 bad.htm
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.