NPORT-EX 2 spcz.htm PART F 9/30/2023
RiverNorth Enhanced Pre-Merger SPAC ETF
  
Schedule of Investments
  
September 30, 2023 (Unaudited)
        
             
   
Shares
    
Value
  
COMMON STOCKS - 88.9%
            
Pre-Combination Special Purpose Acquisition Companies - 88.9% (a)
            
99 Acquisition Group, Inc. - Tracking Stock
    
25,000
    
$
259,250
  
Acri Capital Acquisition Corp.
    
10,522
      
115,637
  
Alchemy Investments Acquisition Corp. 1 (b)
    
6,362
      
65,656
  
Ares Acquisition Corp. - Class A (b)
    
7,946
      
85,499
  
Ares Acquisition Corp. II (b)(d)
    
21,312
      
218,874
  
Bukit Jalil Global Acquisition 1 Ltd. (b)
    
23,000
      
237,590
  
Churchill Capital Corp. V - Class A
    
20,425
      
212,420
  
Churchill Capital Corp. VII - Class A
    
20,000
      
209,000
  
Distoken Acquisition Corp. (b)
    
10,238
      
107,909
  
ESH Acquisition Corp. - Class A (d)
    
21,020
      
212,722
  
Four Leaf Acquisition Corp. - Class A
    
23,000
      
241,040
  
Goal Acquisitions Corp.
    
6,973
      
73,635
  
Golden Star Acquisition Corp. (b)(d)
    
26,135
      
269,191
  
Gores Holdings IX, Inc. - Class A
    
21,142
      
219,665
  
Graf Acquisition Corp. IV
    
10,502
      
108,801
  
Haymaker Acquisition Corp. 4 - Tracking Stock (b)
    
5,526
      
57,747
  
Hennessy Capital Investment Corp. VI - Class A
    
14,565
      
151,185
  
Horizon Space Acquisition I Corp. (b)
    
3,578
      
37,766
  
Inflection Point Acquisition Corp. II (b)
    
23,374
      
238,649
  
Innovative International Acquisition Corp. - Class A (b)
    
21,043
      
234,840
  
Israel Acquisitions Corp. - Class A (b)
    
5,375
      
56,706
  
Keen Vision Acquisition Corp. - Tracking Stock (b)
    
12,000
      
123,000
  
Kernel Group Holdings, Inc. - Class A (b)
    
10,522
      
111,533
  
Live Oak Crestview Climate Acquisition Corp. - Class A
    
7,077
      
73,388
  
Mars Acquisition Corp. (b)
    
10,840
      
113,928
  
Newbury Street Acquisition Corp.
    
21,043
      
220,952
  
Oak Woods Acquisition Corp. - Class A (b)(d)
    
21,070
      
220,287
  
OCA Acquisition Corp. - Class A
    
13,677
      
145,660
  
Pono Capital Three, Inc. - Class A (b)
    
10,989
      
115,989
  
Quantum FinTech Acquisition Corp.
    
13,725
      
146,173
  
Screaming Eagle Acquisition Corp. - Class A (b)
    
22,929
      
239,837
  
TMT Acquisition Corp. - Class A (b)(d)
    
21,080
      
219,864
  
Trailblazer Merger Corp. I
    
22,022
      
227,487
  
TOTAL COMMON STOCKS (Cost $5,113,787)
            
5,371,880
  
                 
RIGHTS - 0.7% (a)
                
Bukit Jalil Global Acquisition 1 Ltd., Expiration: May 2024 (b)
    
23,000
      
3,462
  
Distoken Acquisition Corp., Expiration: November 2027 (b)
    
10,238
      
1,945
  
ESH Acquisition Corp., Expiration: December 2024
    
23,000
      
5,612
  
Golden Star Acquisition Corp., Expiration: March 2025 (b)
    
28,085
      
12,076
  
Horizon Space Acquisition I Corp., Expiration: March 2024 (b)
    
3,578
      
608
  
Mars Acquisition Corp., Expiration: February 2028 (b)
    
10,840
      
2,656
  
Oak Woods Acquisition Corp., Expiration: March 2028 (b)
    
23,000
      
5,535
  
TMT Acquisition Corp., Expiration: March 2028 (b)
    
23,000
      
6,211
  
Trailblazer Merger Corp. I, Expiration: April 2028
    
22,022
      
3,964
  
TOTAL RIGHTS (Cost $28,575)
            
42,069
  
                 
WARRANTS - 0.3% (a)
                
Alchemy Investments Acquisition Corp., Expiration: June 2028, Exercise Price: $11.50% (b)
    
3,181
      
581
  
Apollo Strategic Growth Capital II - Class A,  Expiration: December 2027, Exercise Price: $11.50 (b)
    
3,562
      
280
  
Ares Acquisition Corp. - Class A, Expiration: December 2027, Exercise Price: $11.50 (b)
    
767
      
525
  
Ares Acquisition Corp. II, Expiration: June 2028, Exercise Price: $11.50% (b)
    
11,636
      
2,733
  
Bite Acquisition Corp., Expiration: December 2027, Exercise Price: $11.50
    
2,317
      
128
  
Bukit Jalil Global Acquisition 1 Ltd., Expiration: August 2028, Exercise Price: $11.50% (b)
    
11,500
      
747
  
CC Neuberger Principal Holdings III, Expiration: December 2027, Exercise Price: $11.50 (b)
    
455
      
93
  
CF Acquisition Corp. IV,  Expiration: December 2025, Exercise Price: $11.50
    
2,118
      
106
  
Churchill Capital Corp. V - Class A, Expiration: October 2027, Exercise Price: $11.50
    
3,679
      
681
  
Churchill Capital Corp. VI - Class A, Expiration: December 2027, Exercise Price: $11.50
    
3,511
      
546
  
Churchill Capital Corp. VII, Expiration: February 2028, Exercise Price: $11.50
    
7,382
      
2,274
  
Distoken Acquisition Corp., Expiration: March 2028, Exercise Price: $11.50 (b)
    
10,238
      
307
  
FAST Acquisition Corp. II - Class A, Expiration: March 2026, Exercise Price: $11.50
    
2,675
      
1,337
  
Four Leaf Acquisition Corp., Expiration: May 2028, Exercise Price: $11.50
    
23,000
      
1,598
  
Fusion Acquisition Corp. II - Class A, Expiration: December 2027, Exercise Price: $11.50
    
7,666
      
2
  
Goal Acquisitions Corp., Expiration: February 2026, Exercise Price: $11.50
    
2,841
      
74
  
Gores Holdings IX, Inc., Expiration: January 2029, Exercise Price: $11.50
    
5,071
      
1,014
  
Graf Acquisition Corp. IV, Expiration: May 2028, Exercise Price: $11.50
    
1,751
      
691
  
Hennessy Capital Investment Corp. VI - Class A, Expiration: December 2027, Exercise Price: $11.50
    
4,085
      
623
  
Horizon Space Acquisition I Corp., Expiration: January 2028, Exercise Price: $11.50 (b)
    
3,578
      
181
  
Inflection Point Acquisition Corp. II, Expiration: July 2028, Exercise Price 11.50% (b)
    
11,687
      
2,009
  
Israel Acquisitions Corp., Expiration: February 2028, Exercise Price: $11.50 (b)
    
5,375
      
739
  
Jaws Mustang Acquisition Corp., Expiration: January 2026, Exercise Price: $11.50 (b)
    
2,053
      
82
  
Live Oak Crestview Climate Acquisition Corp., Expiration: March 2026, Exercise Price: $11.50
    
1,424
      
119
  
Oak Woods Acquisition Corp., Expiration: May 2028, Exercise Price: $11.50 (b)
    
23,000
      
1,034
  
Pono Capital Three, Inc. - Class A, Expiration: April 2028, Exercise Price: $11.50 (b)
    
10,989
      
604
  
Screaming Eagle Acquisition Corp. - Class A, Expiration: December 2027, Exercise Price: $11.50 (b)
    
5,917
      
980
  
Slam Corp. - Class A, Expiration: December 2027, Exercise Price: $11.50 (b)
    
3,592
      
491
  
Twelve Seas Investment Co. II - Class A, Expiration: March 2028, Exercise Price: $11.50
    
3,509
      
160
  
TOTAL WARRANTS (Cost $21,979)
            
20,739
  
                 
MONEY MARKET FUNDS - 9.7%
          
First American Treasury Obligations Fund - Class X, 5.26% (c)
    
583,833
      
583,833
  
TOTAL MONEY MARKET FUNDS (Cost $583,833)
      
583,833
  
                 
TOTAL INVESTMENTS (Cost $5,748,174) - 99.6%
            
6,018,521
  
Other assets and liabilities, net - 0.4%
            
24,833
  
TOTAL NET ASSETS - 100.0%
          
$
6,043,354
  

Percentages are stated as a percent of net assets.
            

(a)
  
Non-income producing security.
                  
(b)
  
Foreign issued security.
                  
(c)
  
The rate shown is the seven day yield at period end.
                  
(d)
  
Held as collateral for total return swaps.
                  
RiverNorth Enhanced Pre-Merger SPAC ETF
                      
Schedule of Total Return Swaps
 
 
 
 
 
                  
September 30, 2023 (Unaudited)
                            

                             
Long Total Return Equity Swaps
Fund Pays/Receives
Reference Entity
Counterparty
Payment
Frequency
Financing Rate
Expiration Date
  
Upfront Premiums Paid/Received
    
Notional Amount
    
Value/Unrealized Appreciation (Depreciation)
  
Ares Acquisition Corp. II
Receives
Clear Street Derivatives LLC
Monthly
Overnight Bank Funding Rate Index + 5.32%
August 23, 2024
    
-
      
20,129
      
-
  
ESH Acquisition Corp.
Receives
Clear Street Derivatives LLC
Monthly
Overnight Bank Funding Rate Index + 5.32%
August 23, 2024
    
-
      
20,038
      
-
  
Golden Star Acquisition Corp.
Receives
Clear Street Derivatives LLC
Monthly
Overnight Bank Funding Rate Index + 5.32%
August 23, 2024
    
-
      
20,085
      
-
  
Oak Woods Acquisition Corp.
Receives
Clear Street Derivatives LLC
Monthly
Overnight Bank Funding Rate Index + 5.32%
August 23, 2024
    
-
      
20,178
      
-
  
TMT Acquisition Corp.
Receives
Clear Street Derivatives LLC
Monthly
Overnight Bank Funding Rate Index + 5.32%
August 23, 2024
    
-
      
20,026
      
-
  
                  
$
-
    
$
100,456
    
$
-
  
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 September 30, 2023:
                

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments - Assets:
                        
Common Stocks*
  
$
4,158,214
    
$
1,213,666
    
$
-
    
$
5,371,880
  
Money Market Funds
    
583,833
      
-
      
-
    
$
583,833
  
Rights
    
24,206
      
17,863
      
-
    
$
42,069
  
Warrants
    
15,167
      
5,572
      
-
    
$
20,739
  
Total Investments - Assets
  
$
4,781,420
    
$
1,237,101
    
$
-
    
$
6,018,521
  
                                 
Swap Contracts*
                                
Long Total Return Equity Swap Contracts
  
$
-
    
$
-
    
$
-
    
$
-
  
Total Swap Contracts
  
$
-
    
$
-
    
$
-
    
$
-
  
                                 
*See Schedule of Investments for industry classifications.