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A.
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Security Valuation. Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available
(except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded on the valuation date (or at
approximately 4:00 pm Eastern Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ
Official Closing Price will be used.
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Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith by the Board of
Trustees (the “Board”) or the board designee. When a security is “fair valued,” consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing
procedures adopted by the Trust’s Board. The use of fair value pricing by a fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As
of January 31, 2024, the Trust did not hold any fair valued securities.
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As described above, the Trust utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a
hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
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Level 1
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Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access.
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Level 2
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Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These
inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
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Level 3
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Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Trust’s own
assumptions about the assumptions a market participant would use in valuing the asset or liabilities and would be based on the best information available.
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The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the
type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less
observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
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The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level
in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
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The following table presents a summary of the Trust’s investments in securities, at fair value, as of January 31, 2024:
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Procure Space ETF
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||||||||||||||||
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Level 1
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Level 2
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Level 3
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Total
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Assets^:
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||||||||||||||||
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Common Stocks
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$
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35,197,654
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$
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–
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$
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–
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$
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35,197,654
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Money Market Funds
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98,531
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–
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–
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98,531
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||||||||||||
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Total Assets
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$
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35,296,185
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$
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–
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$
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–
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$
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35,296,185
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||||||||
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Procure Disaster Recovery Strategy ETF
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Level 1
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Level 2
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Level 3
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Total
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Assets^:
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Common Stocks
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$
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2,237,351
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$
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–
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$
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–
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$
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2,237,351
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Money Market Funds
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24,243
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–
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–
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24,243
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||||||||||||
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Total Assets
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$
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2,261,594
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$
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–
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$
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–
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$
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2,261,594
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||||||||
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Procure Disaster Recovery Strategy ETF
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Schedule of Investments
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as of January 31, 2024 (Unaudited)
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COMMON STOCKS - 98.9%
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Shares
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Value
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||||||
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Australia - 2.2%
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Broadline Retail - 2.2%
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Wesfarmers, Ltd.
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1,287
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$
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49,490
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Canada - 6.5%
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Construction & Engineering - 4.3%
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SNC-Lavalin Group, Inc. (a)
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1,485
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49,560
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Stantec, Inc. (a)
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582
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47,059
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96,619
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IT Services - 2.2%
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CGI, Inc.(a)
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435
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49,020
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Total Canada
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145,639
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Finland - 2.1%
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Machinery - 2.1%
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Valmet Oyj
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1,671
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47,647
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Germany - 2.2%
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Specialty Retail - 2.2%
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Hornbach Holding AG & Co.
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696
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50,465
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Hong Kong - 2.2%
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Commercial Services & Supplies - 2.2%
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China Everbright Environment Group, Ltd.
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144,000
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50,105
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Japan - 6.6%
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IT Services - 4.4%
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Fujitsu, Ltd.
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320
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45,622
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NEC Corp.
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835
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55,409
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101,031
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Specialty Retail - 2.2%
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Nitori Holdings Co., Ltd.
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380
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50,082
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Total Japan
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151,113
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Luxembourg - 2.3%
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Chemicals - 2.3%
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Perimeter Solutions SA(a)
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11,007
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52,173
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Netherlands - 4.4%
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Construction & Engineering - 2.2%
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Fugro NV(a)
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2,622
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48,789
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$
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–
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Professional Services - 2.2%
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Arcadis NV
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900
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49,810
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Total Netherlands
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98,599
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Sweden - 4.2%
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Building Products - 2.1%
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Assa Abloy AB - Class B
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1,725
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47,865
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$
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–
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Electronic Equipment, Instruments & Components - 2.1%
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Hexagon AB - Class B
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4,317
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47,631
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Total Sweden
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95,496
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Switzerland - 2.0%
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Machinery - 2.0%
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Sulzer AG
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465
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45,397
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United Kingdom - 10.8%
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Aerospace & Defense - 2.3%
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Babcock International Group PLC
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9,039
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52,097
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$
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–
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Construction & Engineering - 2.0%
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Balfour Beatty PLC
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10,725
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45,344
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$
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–
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Energy Equipment & Services - 2.3%
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John Wood Group PLC(a)
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25,971
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52,090
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$
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–
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Machinery - 2.2%
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CNH Industrial NV
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4,143
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49,716
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$
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–
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Specialty Retail - 2.0%
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Kingfisher PLC
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15,798
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44,340
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Total United Kingdom
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243,587
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United States - 53.4%(b)
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Chemicals - 2.1%
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Ecolab, Inc.
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234
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46,383
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$
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–
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Commercial Services & Supplies - 5.8%
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Clean Harbors, Inc.(a)
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267
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44,845
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MSA Safety, Inc.
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264
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43,568
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Tetra Tech, Inc.
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273
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43,183
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131,596
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Construction & Engineering - 8.3%
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AECOM
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495
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43,654
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Fluor Corp.(a)
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1,203
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45,365
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Great Lakes Dredge & Dock Corp.(a)
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6,471
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49,438
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Sterling Infrastructure, Inc.(a)
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666
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50,017
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||||||
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188,474
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Electrical Equipment - 6.2%
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Eaton Corp PLC
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198
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48,724
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||||||
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EnerSys
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501
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47,881
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Generac Holdings, Inc.(a)
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375
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42,626
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||||||
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139,231
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Health Care Equipment & Supplies - 1.1%
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||||||||
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Outset Medical, Inc.(a)
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7,920
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24,077
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||||||
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$
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–
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Machinery - 10.9%
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Allison Transmission Holdings, Inc.
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825
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49,946
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Cummins, Inc.
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195
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46,664
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||||||
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Oshkosh Corp.
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459
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50,536
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REV Group, Inc.
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2,751
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53,699
|
||||||
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Xylem, Inc.
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426
|
47,899
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||||||
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248,744
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Professional Services - 8.0%
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ICF International, Inc.
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324
|
45,049
|
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NV5 Global, Inc.(a)
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447
|
46,885
|
||||||
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Verisk Analytics, Inc.
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192
|
46,374
|
||||||
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Willdan Group, Inc.(a)
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2,175
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41,630
|
||||||
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179,938
|
||||||||
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Semiconductors & Semiconductor Equipment - 2.7%
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||||||||
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NVIDIA Corp.
|
99
|
60,912
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$
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–
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Specialty Retail - 6.2%
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||||||||
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Floor & Decor Holdings, Inc. - Class A(a)
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450
|
45,252
|
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Home Depot, Inc.
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141
|
49,768
|
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Lowe's Cos., Inc.
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216
|
45,973
|
||||||
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140,993
|
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Trading Companies & Distributors - 2.1%
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SiteOne Landscape Supply, Inc.(a)
|
306
|
47,292
|
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Total United States
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1,207,640
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TOTAL COMMON STOCKS (Cost $2,138,620)
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2,237,351
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SHORT-TERM INVESTMENTS - 1.1%
|
||||||||
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Money Market Funds - 1.1%
|
Shares
|
|||||||
|
First American Government Obligations Fund - Class X, 5.25%(c)
|
24,243
|
24,243
|
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TOTAL SHORT-TERM INVESTMENTS
(Cost $24,243)
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24,243
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TOTAL INVESTMENTS - 100.0% (Cost
$2,162,863)
|
$
|
2,261,594
|
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Liabilities in Excess of Other Assets - 0.0%(d)
|
(659
|
)
|
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TOTAL NET ASSETS - 100.0%
|
$
|
2,260,935
|
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Percentages are stated as a percent of net assets.
|
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The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and
Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.
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(a)
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Non-income producing security.
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(b)
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To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or
region, it is more likely to be impacted by events or conditions affecting the country or region.
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(c)
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The rate shown represents the 7-day effective yield as of January 31, 2024.
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(d)
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Represents less than 0.05% of net assets.
|