American Homes 4 Rent

Residential REIT Income ETF

Schedule of Investments at April 30, 2023 (Unaudited)

	Shares		Value
Real Estate Investment Trusts ⁽¹⁾ - 98.4%
REITS - Apartments - 68.6%
American Homes 4 Rent - Class A		11,703	$	389,242
Apartment Income REIT Corp.		1,931		71,408
Apartment Investment and Management Co.		6,647		52,046
AvalonBay Communities, Inc.		2,436		439,381
BRT Apartments Corp.		782		13,552
Camden Property Trust		1,981		218,009
Centerspace		1,071		60,383
Equity Residential		6,752		427,064
Essex Property Trust, Inc.		999		219,510
Independence Realty Trust, Inc.		12,811		213,303
Invitation Homes, Inc.		6,361		212,267
Mid-America Apartment Communities, Inc.		2,652		407,878
NexPoint Residential Trust, Inc.		1,385		59,458
UDR, Inc.		8,326		344,114
				3,127,615
REITS - Diversified - 4.1%
UMH Properties, Inc.		8,820		134,064
Veris Residential, Inc.		3,318		54,249
				188,313
REITS - Health Care - 13.8%
CareTrust REIT, Inc.		4,633		90,297
National Health Investors, Inc.		1,270		63,208
Omega Healthcare Investors, Inc.		1,578		42,228
Ventas, Inc.		4,458		214,207
Welltower, Inc.		2,774		219,756
				629,696
REITS - Management & Service - 1.5%
Tricon Residential, Inc.		8,661		69,548

REITS - Manufactured Homes - 9.5%
Equity LifeStyle Properties, Inc.		3,072		211,661
Sun Communities, Inc.		1,590		220,898
				432,559
REITS - Office Property - 0.9%
Elme Communities		2,471		42,575
Total Real Estate Investment Trusts
(Cost $5,094,700)				4,490,306

Short-Term Investments - 2.0%
Money Market Funds - 2.0%
First American Government Obligations Fund, Class X, 4.725% ⁽²⁾		89,429		89,429
Total Short-Term Investments
(Cost $89,429)				89,429

Total Investments In Securities - 100.4%
(Cost $5,184,129)				4,579,735
Liabilities in Excess of Other Assets - (0.4)%				(17,303	)
Total Net Assets - 100.0%			$	4,562,432

	REIT	Real Estate Investment Trust
	⁽¹⁾	Grouped by Bloomberg Sector Categories.
	⁽²⁾	The rate shown is the annualized seven-day effective yield as of April 30, 2023.

Summary of Fair Value Exposure at April 30, 2023 (Unaudited)

The Residential REIT Income ETF (the “Fund”) 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:

• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. • Level 2 — 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 spreads, credit risk, yield curves, default rates and similar data. • Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the inputs used to value the Fund’s investments as of April 30, 2023:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stocks ⁽¹⁾	$	4,490,306	$	–	$	–	$	4,490,306
Short-Term Investments		89,429		-		-		89,429
Total Investments in Securities	$	4,579,735	$	–	$	–	$	4,579,735

⁽¹⁾ See Schedule of Investments for industry breakout.