Preferred-Plus ETF

Schedule of Investments

as of December 31, 2023 (Unaudited)

PREFERRED STOCKS - 86.7%		Shares		Value
Agriculture - 1.9%
CHS, Inc.
Series 2, 7.10% to 03/31/2024 then 3 Month LIBOR USD + 4.30%, Perpetual(a) (h)		4,022	$	100,429
Series 4, 7.50%, Perpetual(h)		4,669		118,033
				218,462
Auto Manufacturers - 2.5%
Ford Motor Co.
6.00%, 12/01/2059(b) (h)		6,503		152,365
6.20%, 06/01/2059(b) (h)		5,896		138,615
				290,980
Banks - 35.5%(g)
Bank of America Corp.
Series HH, 5.88%, Perpetual		4,119		101,863
Series LL, 5.00%, Perpetual		6,010		129,395
Series PP, 4.13%, Perpetual		5,220		96,048
Series QQ, 4.25%, Perpetual		5,256		97,341
Series SS, 4.75%, Perpetual		6,302		131,082
Citigroup Capital XIII
12.02% (3 Month Term SOFR + 6.63%), 10/30/2040(a)(b) (h)		4,112		117,356
Citigroup, Inc.
Series J, 9.63% (3 Month Term SOFR + 4.30%), Perpetual(a)		680		17,428
Citizens Financial Group, Inc.
Series D, 6.35% to 04/06/2024 then (3 Month Term SOFR + 3.90%), Perpetual(a)		6,130		147,120
ConnectOne Bancorp, Inc.
Series A, 5.25% to 09/01/2026 then (5 Year CMT Rate + 4.42%), Perpetual(a)		4,998		92,463
Fifth Third Bancorp
Series I, 9.30% to 01/29/2024 then (3 Month Term SOFR + 3.97%), Perpetual(a)		1,803		45,922
Series K, 4.95%, Perpetual(h)		3,996		89,670
First Citizens BancShares, Inc., Series A, 5.38%, Perpetual		4,499		90,475
Series A, 5.38%, Perpetual(h)
Goldman Sachs Group, Inc.
Series K, 6.38% to 05/10/2024 then (3 Month Term SOFR + 3.81%), Perpetual(a)		1,226		30,981
JPMorgan Chase & Co.
Series DD, 5.75%, Perpetual		9,038		225,950
Series EE, 6.00%, Perpetual		4,515		114,275
Series LL, 4.63%, Perpetual		5,384		112,418
KeyCorp
6.20% to 12/15/2027 then (5 Year CMT Rate + 3.13%), Perpetual(a)		6,352		136,314
Series E, 6.13% to 12/15/2026 then 3 Month Term SOFR + 4.15%, Perpetual(a) (h)		5,008		107,372
Merchants Bancorp
8.25% to 10/01/2027 then (5 Year CMT Rate + 4.34%), Perpetual(a)		2,772		66,944
Midland States Bancorp, Inc.
7.75% to 09/30/2027 then (5 Year CMT Rate + 4.71%), Perpetual(a)		4,425		107,528
Morgan Stanley
Series F, 6.88%, 04/15/2024, Perpetual(h)		6,307		157,801
Series K, 5.85%, 04/15/2027, Perpetual(h)		7,119		172,422
Series P, 6.50%, 10/15/2027, Perpetual		4,800		125,616
Old National Bancorp
Series C, 7.00%, Perpetual(h)		6,010		152,293
Regions Financial Corp.
Series C, 5.70% to 05/15/2029 then (3 Month LIBOR USD + 3.15%), Perpetual(a) (h)		6,010		128,073
State Street Corp.
Series D, 5.90%, 03/15/2024, Perpetual		5,008		125,350
Series G, 5.35%, 03/15/2026, Perpetual		3,945		93,536
Synovus Financial Corp.
Series E, 5.88% to 07/01/2024 then (5 Year CMT Rate + 4.13%), Perpetual(a)		9,862		230,279
Truist Financial Corp.
Series R, 4.75%, Perpetual(h)		6,398		128,728
US Bancorp
Series K, 5.50%, Perpetual		6,010		139,492
Wells Fargo & Co.
Series DD, 4.25%, Perpetual		2,880		51,206
Series R, 6.63%, 03/15/2024, Perpetual		3,185		79,912
WesBanco, Inc.
Series A, 6.75% to 11/15/2025 then (5 Year CMT Rate + 6.56%), Perpetual(a)		5,008		119,942
Western Alliance Bancorp
Series A, 4.25% to 09/30/2026 then (5 Year CMT Rate + 3.45%), Perpetual(a)		7,384		127,374
Wintrust Financial Corp.
Series E, 6.88% to 07/15/2025 then (5 Year CMT Rate + 6.51%), Perpetual(a)		6,130		149,204
				4,039,173
Distribution/Wholesale - 1.6%
WESCO International, Inc.
Series A, 10.63% to 06/22/2025 then (5 Year CMT Rate + 10.33%), Perpetual(a) (h)		6,968		184,095
Diversified Financial Services - 7.6%
Air Lease Corp.
Series A, 6.15% to 03/15/2024 then (3 Month Term SOFR + 3.91%), Perpetual(a)(h)		6,010		149,649
Apollo Global Management, Inc.
7.63% to 09/15/2028 then (5 Year CMT Rate + 3.23%), 09/15/2053(a)(b)		2,000		54,940
B Riley Financial, Inc.
5.00%, 12/31/2026(b)		3,515		55,713
Capital One Financial Corp.
Series I, 5.00%, Perpetual(h)		5,073		93,597
Series J, 4.80%, Perpetual(h)		3,049		53,784
Stifel Financial Corp.
Series D, 4.50%, Perpetual		8,931		153,345
Synchrony Financial
Series A, 5.63%, Perpetual(h)		8,860		152,835
Voya Financial, Inc.
Series B, 5.35% to 09/15/2029 then (5 Year CMT Rate + 3.21%), Perpetual(a)		6,447		149,764
				863,627
Electric - 8.6%
Algonquin Power & Utilities Corp.
Series 19-A, 6.20% to 07/01/2024 then (3 Month LIBOR USD + 4.01%), 07/01/2079(a)(b)(c)		6,130		147,917
Brookfield BRP Holdings Canada, Inc.
4.63%, Perpetual(c)		3,360		52,584
CMS Energy Corp.
5.88%, 03/01/2079(b)		3,007		75,085
National Rural Utilities Cooperative Finance Corp.
Series US, 5.50%, 05/15/2064(b) (h)		5,008		126,001
SCE Trust III
Series H, 5.75% to 03/15/2024 then (3 Month Term SOFR + 3.25%), Perpetual(a)		5,018		124,798
SCE Trust IV
Series J, 5.38% to 09/15/2025 then (3 Month Term SOFR + 3.39%), Perpetual(a) (h)		5,008		110,176
SCE Trust V
Series K, 5.45% to 03/15/2026 then (3 Month Term SOFR + 4.05%), Perpetual(a) (h)		5,110		124,377
Sempra
5.75%, 07/01/2079(b)		6,010		150,130
The Southern Co.
Series 2020, 4.95%, 01/30/2080(b)		3,007		67,597
				978,665
Gas - 1.2%
NiSource, Inc.
Series B, 6.50% to 03/15/2024 then (5 Year CMT Rate + 3.63%), Perpetual(a) (h)		5,577		139,202
Insurance - 18.1%
American Equity Investment Life Holding Co.
Series A, 5.95% to 12/01/2024 then (5 Year CMT Rate + 4.32%), Perpetual(a) (h)		7,455		161,326
Series B, 6.63% to 09/01/2025 then (5 Year CMT Rate + 6.30%), Perpetual(a) (h)		7,022		174,147
Aspen Insurance Holdings Ltd.
5.63%, Perpetual(c)		3,007		58,757
Athene Holding Ltd.
Series A, 6.35% to 06/30/2029 then (3 Month LIBOR USD + 4.25%), Perpetual(a)(c) (h)		9,999		224,777
Series C, 6.38% to 06/30/2025 then (5 Year CMT Rate + 5.97%), Perpetual(a)		3,979		96,371
Brighthouse Financial, Inc.
6.25%, 09/15/2058(b) (h)		3,400		73,950
Series B, 6.75%, Perpetual(h)		7,160		160,957
Series C, 5.38%, Perpetual		3,624		66,790
Enstar Group Ltd.
Series D, 7.00% to 09/01/2028 then (3 Month LIBOR USD + 4.02%), Perpetual(a)(c) (h)		6,010		150,731
Equitable Holdings, Inc.
Series A, 5.25%, Perpetual(h)		6,867		146,404
Jackson Financial, Inc.
8.00% to 03/30/2028 then (5 Year CMT Rate + 3.73%), Perpetual(a)		5,172		130,541
Kemper Corp.
5.88% to 03/15/2027 then (5 Year CMT Rate + 4.14%), 03/15/2062(a)(b)		4,499		90,385
Lincoln National Corp.
Series D, 9.00%, Perpetual		2,300		62,767
MetLife, Inc.
Series E, 5.63%, Perpetual		5,566		135,198
Series F, 4.75%, Perpetual		6,096		124,358
Prudential Financial, Inc.
5.63%, 08/15/2058(b)		2,890		72,134
Reinsurance Group of America, Inc.
5.75% to 06/15/2026 then (3 Month LIBOR USD + 4.04%), 06/15/2056(a)(b)		2,850		72,048
Unum Group
6.25%, 06/15/2058(b)		3,007		75,867
				2,077,508
Investment Companies - 0.6%
Oaktree Capital Group LLC
Series B, 6.55%, Perpetual		3,007		63,959
Pipelines - 2.4%
Energy Transfer LP
Series E, 7.60% to 05/15/2024 then (3 Month LIBOR USD + 5.16%), Perpetual(a) (h)		7,022		174,145
NuStar Logistics LP
12.39% (3 Month Term SOFR + 7.00%), 01/15/2043(a)(b)		3,919		101,424
				275,569
Savings & Loans - 3.1%
Banc of California, Inc.
Series F, 7.75% to 09/01/2027 then (5 Year CMT Rate + 4.82%), Perpetual(a)		8,538		198,253
New York Community Bancorp, Inc.
Series A., 6.38% to 03/17/2027 then (3 Month LIBOR USD + 3.82%), Perpetual(a)		7,118		159,514
				357,767
Telecommunications - 3.6%
AT&T, Inc.
5.63%, 08/01/2067(b)		2,951		73,185
Series A, 5.00%, Perpetual(h)		1,175		24,663
Series C, 4.75%, Perpetual(h)		5,693		112,323
Telephone and Data Systems, Inc.
Series UU, 6.63%, Perpetual(h)		6,010		104,995
United States Cellular Corp.
5.50%, 03/01/2070(b)		5,237		93,480
				408,646
TOTAL PREFERRED STOCKS (Cost $10,982,198)				9,897,653
REAL ESTATE INVESTMENT TRUSTS - 11.8%
AGNC Investment Corp.
Series F, 6.13% (3 Month LIBOR USD + 4.70%), 04/15/2025, Perpetual(a)		7,016		152,667
Annaly Capital Management, Inc.
Series F, 10.60% (3 Month LIBOR USD + 4.99), 01/31/2024, Perpetual (a)		2,922		73,459
Series I, 6.75% (3 Month LIBOR USD + 4.99%), 06/30/2024, Perpetual (a)		2,972		72,190
Arbor Realty Trust, Inc.
Series F, 6.25% (SOFR + 5.44%), 10/12/2026, Perpetual (a)		6,961		130,866
Digital Realty Trust, Inc.
Series L, 5.20%, 10/10/2024, Perpetual		5,760		128,333
Hudson Pacific Properties, Inc.
Series C, 4.75%, 11/16/2026, Perpetual		2,951		41,344
KKR Real Estate Finance Trust, Inc.
Series A, 6.50%, 04/16/2026, Perpetual(h)		5,108		92,710
MFA Financial, Inc.
Series C, 6.50% (3 Month LIBOR USD + 5.35%), 03/31/2025, Perpetual (a)		2,514		53,297
Pebblebrook Hotel Trust
Series G, 6.38%, 05/13/2026, Perpetual(h)		6,010		126,871
Public Storage
Series M, 4.13%, 08/14/2025, Perpetual(h)		1,054		19,689
Series S, 4.10%, 01/13/2027, Perpetual		3,508		64,863
Sachem Capital Corp.
Series A, 7.75%, 06/29/2026(h)		2,893		70,445
6.00%, 12/30/2026(b)		6,010		117,195
6.88%, 12/30/2024(b) (h)		2,893		62,142
Vornado Realty Trust
Series N, 5.25%, 11/24/2025, Perpetual(h)		1,742		23,639
Series O, 4.45%, 09/22/2026, Perpetual		8,018		123,076
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,642,629)				1,352,786
CLOSED END FUNDS - 0.2%
Cohen & Steers Ltd. Duration Preferred and Income Fund, Inc. (h)		1,172		21,600
TOTAL CLOSED END FUNDS (Cost $27,526)				21,600
PURCHASED OPTIONS - 0.0%(d)(e)	Notional Amount	Contracts		Value
Purchased Put Options - 0.0%(e)				$–
CBOE Mini S&P 500 Index		–		$–
Expiration: 01/05/2024; Exercise Price: $375(i)	1,500,000	40		80
Expiration: 01/26/2024; Exercise Price: $395(i)	1,619,500	41		451
Expiration: 02/02/2024; Exercise Price: $390(i)	1,599,000	41		574
TOTAL PURCHASED OPTIONS (Cost $2,366)				1,105
SHORT-TERM INVESTMENTS - 0.6%
Money Market Funds - 0.6%		Shares
First American Government Obligations Fund - Class X, 5.28%(f)		74,104		74,104
TOTAL SHORT-TERM INVESTMENTS (Cost $74,104)				74,104
TOTAL INVESTMENTS - 99.3% (Cost $12,728,823)			$	11,347,248
Other Assets and Liabilities, net - 0.7%				73,880
TOTAL NET ASSETS - 100.0%			$	11,421,128
Percentages are stated as a percent of net assets.

CBOE – Chicago Board Options Exchange

CMT - Constant Maturity Treasury Rate

LIBOR - London Interbank Offered Rate

SOFR - Secured Overnight Financing Rate

(a)	Coupon rate is variable or floats based on components including but not limited to reference rate and spread. These securities may not indicate a reference rate and/or spread in their description. Variable rate Preferred Stocks will typically have interest rates that redetermine periodically by reference to a base lending rate plus a spread. Preferred Stocks that reference SOFR may be subject to a credit spread adjustment, particularly to legacy LIBOR Preferred Stocks that have transitioned to SOFR as the base lending rate. The rate disclosed is as of December 31, 2023.
(b)	Security may be called/redeemed by the issuer as of an earlier date.
(c)	Foreign issued security.
(d)	Each contract has a multiplier of 100.
(e)	Less than 0.05%.
(f)	The rate shown represents the seven-day yield at period end.
(g)	To the extent the Fund invests more heavily in particular sectors or asset classes, its performance will be especially sensitive to developments that significantly affect those sectors or asset classes.
(h)	A portion or all of the security has been segregated or earmarked as collateral for written options. As of December 31, 2023, the value of these securities amounts to $4,023,455 or 35.2% of net assets.
(i)	Held in connection with a written option, see Schedule of Written Options for more detail.

Preferred-Plus ETF
Schedule of Options Written
as of December 31, 2023 (Unaudited)
WRITTEN OPTIONS - (0.1)% (a)	Notional Amount			Contracts			Value
Written Put Options - (0.1)%
CBOE Mini S&P 500 Index		0			0			–
Expiration: 01/05/2024; Exercise Price: $440	$	(1,760,000	)		(40	)	$	(120	)
Expiration: 01/26/2024; Exercise Price: $465		(1,906,500	)		(41	)		(7,011	)
Expiration: 02/02/2024; Exercise Price: $460		(1,886,000	)		(41	)		(7,196	)
TOTAL WRITTEN OPTIONS (Premiums received $24,711)								(14,327	)

(a) Each contract has a multiplier of 100.

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 December 31, 2023:

	Level 1		Level 2			Level 3		Total
Investments:
Preferred Stocks*	$	9,897,653	$	–		$	–	$	9,897,653
Real Estate Investment Trusts		1,352,786		–			–		1,352,786
Closed End Funds		21,600		–			–		21,600
Options		–		1,105			–		1,105
Money Market Funds		74,104		–			–		74,104
Total Investments	$	11,346,143	$	1,105		$	–	$	11,347,248
Investments Sold Short:
Options		–		(14,327	)		–		(14,327	)
Total Investments Sold Short	$	–	$	(14,327	)	$	–	$	(14,327	)
*Refer to the Schedule of Investments for industry classifications.