NPORT-EX 2 ovs.htm

Overlay Shares Small Cap Equity ETF
  
Schedule of Investments
  
as of May 31, 2024 (Unaudited)
  
   
EXCHANGE TRADED FUNDS - 99.9%
    
Shares
    
Value
  
iShares Core S&P Small-Cap ETF(a)(f)
      
97,996
    
$
10,745,262
  
TOTAL EXCHANGE TRADED FUNDS (Cost $10,300,908)
      
10,745,262
  
                       
PURCHASED OPTIONS - 0.0%(b)(c)(d)
  
Notional Amount
    
Contracts
    
Value
  
Put Options - 0.0%(d)
            
$
–
  
S&P 500 Index
      
–
    
$
–
  
Expiration: 06/03/2024; Exercise Price: $5,220.00
    
2,638,755
      
5
      
400
  
Expiration: 06/03/2024; Exercise Price: $5,175.00(g)
    
2,638,755
      
5
      
125
  
Expiration: 06/07/2024; Exercise Price: $5,175.00(g)
    
2,638,755
      
5
      
1,875
  
Expiration: 06/14/2024; Exercise Price: $5,150.00(g)
    
2,638,755
      
5
      
5,575
  
Total Put Options
                    
7,975
  
TOTAL PURCHASED OPTIONS (Cost $25,055)
      
7,975
  
                         
SHORT-TERM INVESTMENTS - 0.1%
                  
Money Market Funds - 0.1%
    
Shares
          
First American Government Obligations Fund - Class X, 5.24%(e)
      
6,092
      
6,092
  
TOTAL SHORT-TERM INVESTMENTS (Cost $6,092)
      
6,092
  
                         
TOTAL INVESTMENTS - 100.0% (Cost $10,332,055)
    
$
10,759,329
  
Liabilities in Excess of Other Assets - 0.0%(f)
      
(5,027
)
TOTAL NET ASSETS - 100.0%
                  
$
10,754,302
  
           
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)
Exchange-traded.
(c)
100 shares per contract.
(d)
Represents less than 0.05% of net assets.
(e)
The rate shown represents the 7-day effective yield as of May 31, 2024.
(f)
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 $7,518,372.
(g)
Held in connection with a written option, see Schedule of Written Options for more detail.
Overlay Shares Small Cap Equity ETF
  
Schedule of Written Options
  
as of May 31, 2024 (Unaudited)
  
   
WRITTEN OPTIONS - (0.2)% (a)(b)
  
Notional Amount
    
Contracts
    
Value
  
Put Options - (0.2)%
                  
S&P 500 Index
    
0
      
0
      
–
  
Expiration: 06/03/2024; Exercise Price: $5,275.00
  
$
(2,638,755
)
    
(5
)
  
$
(4,400
)
Expiration: 06/07/2024; Exercise Price: $5,275.00
    
(2,638,755
)
    
(5
)
    
(12,000
)
Expiration: 06/14/2024; Exercise Price: $5,200.00
    
(2,638,755
)
    
(5
)
    
(9,325
)
Total Put Options
                    
(25,725
)
TOTAL WRITTEN OPTIONS (Premiums received $49,543)
                    
(25,725
)
                         
Percentages are stated as a percent of net assets.
                        

(a)
Exchange-traded.
(b)
100 shares per contract.

Overlay Shares Small Cap Equity ETF
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Exchange Traded Funds
  
$
10,745,261
    
$
–
    
$
–
    
$
10,745,261
  
  Purchased Options
    
400
      
7,575
      
–
      
7,975
  
  Money Market Funds
    
6,092
      
–
      
–
      
6,092
  
Total Investments
  
$
10,751,754
    
$
7,575
    
$
–
    
$
10,759,329
  
                                 
Liabilities:
                                
Investments:
                                
  Written Options
  
$
–
    
$
(25,725
)
  
$
–
    
$
(25,725
)
Total Investments
  
$
–
    
$
(25,725
)
  
$
–
    
$
(25,725
)