NPORT-EX 2 ovf.htm
Overlay Shares Foreign Equity ETF
  
Schedule of Investments
  
as of November 30, 2023 (Unaudited)
  
   
EXCHANGE TRADED FUNDS - 99.8%
  
Shares
    
Value
  
iShares Core MSCI EAFE ETF(a)(b)
          
178,125
    
$
12,032,343
  
iShares Core MSCI Emerging Markets ETF
          
60,432
      
3,000,449
  
TOTAL EXCHANGE TRADED FUNDS (Cost $14,618,113)
      
15,032,792
  
                       
OPTIONS PURCHASED - 0.0%
  
Notional
  
Contracts (f)
    
Value
  
Put Options - 0.0%(c)(d)(e)
            
$
–
  
S&P 500 Index
      
–
    
$
–
  
Expires December 4, 2023 at $4,400.00
    
2,740,680
      
6
      
105
  
Expires December 6, 2023 at $4,375.00
    
2,740,680
      
6
      
270
  
Expires December 8, 2023 at $4,375.00
    
2,740,680
      
6
      
780
  
Expires December 11, 2023 at $4,400.00
    
3,197,460
      
7
      
1,663
  
Expires December 13, 2023 at $4,390.00
    
3,197,460
      
7
      
3,185
  
Total Put Options
                    
6,003
  
TOTAL OPTIONS (Cost $13,920)
      
6,003
  
                         
SHORT-TERM INVESTMENTS - 1.1%
                  
Money Market Funds - 1.1%
  
Shares
          
First American Government Obligations Fund - Class X, 5.29%(g)
      
162,473
      
162,473
  
TOTAL SHORT-TERM INVESTMENTS (Cost $162,473)
      
162,473
  
                         
TOTAL INVESTMENTS - 100.9% (Cost $14,794,505)
    
$
15,201,268
  
Liabilities in Excess of Other Assets - (0.9)%
      
(131,377
)
TOTAL NET ASSETS - 100.0%
                  
$
15,069,891
  
           
Percentages are stated as a percent of net assets.
          

(a)
Fair value of this security exceeds 25% of the Fund’s net assets.  Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov.
(b)
All or a portion of the security is segregated as collateral for written options. The value of the security segregated as collateral for written options is $2,631,748.
(c)
Represents less than 0.05% of net assets.
(d)
Exchange-traded.
(e)
Held in connection with a written option, see Schedule of Written Options for more detail.
(f)
Each contract has a multiplier of 100.
(g)
The rate shown represents the 7-day effective yield as of November 30, 2023.
Overlay Shares Foreign Equity ETF
  
Schedule of Written Options
  
as of November 30, 2023 (Unaudited)
  
   
Options Written - (0.3)% (a)
  
Notional
    
Contracts(b)
    
Value
  
Put Options - (0.3)%
                  
S&P 500 Index
    
0
      
0
      
–
  
   Expires December 4, 2023 at $4,535.00
  
$
2,740,680
      
6
    
$
3,720
  
   Expires December 6, 2023 at $4,500.00
    
2,740,680
      
6
      
2,760
  
   Expires December 8, 2023 at $4,510.00
    
2,740,680
      
6
      
5,970
  
   Expires December 11, 2023 at $4,530.00
    
3,197,460
      
7
      
11,445
  
   Expires December 13, 2023 at $4,520.00
    
3,197,460
      
7
      
14,315
  
Total Put Options
                    
38,210
  
Total Options Written (Premiums received $71,980)
                    
38,210
  

(a)
Exchange-traded.
(b)
Each contract has a multiplier of 100.
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 November 30, 2023:

Overlay Shares Foreign Equity ETF
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Exchange Traded Funds
  
$
15,032,793
    
$
–
    
$
–
    
$
15,032,793
  
  Options
    
–
      
6,003
      
–
      
6,003
  
  Money Market Funds
    
162,473
      
–
      
–
      
162,473
  
Total Investments
  
$
15,195,265
    
$
6,003
    
$
–
    
$
15,201,268
  
                                 
Investments Sold Short:
                                
  Options
  
$
–
    
$
38,210
    
$
–
    
$
38,210
  
Total Investments Sold Short
  
$
–
    
$
38,210
    
$
–
    
$
38,210