NPORT-EX 2 acsi-etf.htm SCHEDULE OF INVESTMENTS
American Customer Satisfaction ETF
  
             
SCHEDULE OF INVESTMENTS at June 30, 2023 (Unaudited)
  
             
 
  
Shares
    
Value
  
Common Stocks - 99.7%
            
Airlines - 4.8%
            
Alaska Air Group, Inc. (1)
    
66,223
    
$
3,521,739
  
                 
Apparel - 2.5%
                
Nike, Inc. - Class B
    
16,207
      
1,788,767
  
                 
Auto Manufacturers - 4.3%
                
Tesla, Inc. (1)
    
11,844
      
3,100,404
  
                 
Beverages - 2.4%
                
The Coca-Cola Co.
    
29,424
      
1,771,913
  
                 
Commercial Services - 2.5%
                
Avis Budget Group, Inc. (1)
    
8,046
      
1,839,879
  
                 
Computers - 9.7%
                
Apple, Inc.
    
36,416
      
7,063,611
  
                 
Diversified Financial Services - 8.9%
                
Ally Financial, Inc.
    
74,782
      
2,019,862
  
Capital One Financial Corp.
    
20,529
      
2,245,257
  
The Charles Schwab Corp.
    
39,400
      
2,233,192
  
             
6,498,311
  
Electric - 2.4%
                
CenterPoint Energy, Inc.
    
30,159
      
879,135
  
NextEra Energy, Inc.
    
11,751
      
871,924
  
             
1,751,059
  
Food - 4.9%
                
The Hershey Co.
    
9,523
      
2,377,893
  
The Kroger Co.
    
25,395
      
1,193,565
  
             
3,571,458
  
Gas - 1.3%
                
Atmos Energy Corp.
    
7,997
      
930,371
  
                 
Healthcare - Services - 3.4%
                
Humana, Inc.
    
2,677
      
1,196,967
  
UnitedHealth Group, Inc.
    
2,714
      
1,304,457
  
             
2,501,424
  
Insurance - 5.3%
                
MetLife, Inc.
    
32,867
      
1,857,972
  
The Travelers Cos, Inc.
    
11,355
      
1,971,909
  
             
3,829,881
  
Internet - 15.7%
                
Alphabet, Inc. - Class C (1)
    
23,521
      
2,845,335
  
Amazon.com, Inc. (1)
    
41,966
      
5,470,688
  
Chewy, Inc. - Class A (1)
    
55,335
      
2,184,073
  
Pinterest, Inc. - Class A (1)
    
32,850
      
898,119
  
             
11,398,215
  
Lodging - 2.8%
                
Hyatt Hotels Corp. - Class A
    
18,022
      
2,064,961
  
                 
Media - 1.7%
                
The Walt Disney Co. (1)
    
13,924
      
1,243,135
  
                 
Pharmaceuticals - 3.4%
                
CVS Health Corp.
    
35,904
      
2,482,043
  
                 
Retail - 8.5%
                
American Eagle Outfitters, Inc.
    
89,407
      
1,055,003
  
Costco Wholesale Corp.
    
4,499
      
2,422,172
  
Papa John's International, Inc.
    
19,106
      
1,410,596
  
The TJX Cos, Inc.
    
15,602
      
1,322,893
  
             
6,210,664
  
Software - 4.1%
                
Microsoft Corp.
    
8,813
      
3,001,179
  
                 
Telecommunications - 7.5%
                
AT&T, Inc.
    
94,453
      
1,506,525
  
Motorola Solutions, Inc.
    
4,533
      
1,329,438
  
T-Mobile US, Inc. (1)
    
6,203
      
861,597
  
Verizon Communications, Inc.
    
47,011
      
1,748,339
  
             
5,445,899
  
Transportation - 3.6%
                
United Parcel Service, Inc. - Class B
    
14,763
      
2,646,268
  
                 
Total Common Stocks
            
72,661,181
  
   (Cost $69,524,562)
                
                 
Short-Term Investments - 0.3%
                
Money Market Funds - 0.3%
                
First American Government Obligations Fund, Class X, 5.006% (2)
    
202,533
      
202,533
  
Total Short-Term Investments
                
   (Cost $202,533)
            
202,533
  
                 
Total Investments in Securities - 100.0%
                
   (Cost $69,727,095)
            
72,863,714
  
Liabilities in Excess of Other Assets - (0.0)% (3)
            
(11,821
)
Total Net Assets - 100.0%
          
$
72,851,893
  

 
(1)
Non-income producing security.
        
 
(2)
The rate shown is the annualized seven-day effective yield as of June 30, 2023.
    
 
(3)
Does not round to 0.1% or (0.1)%, as applicable.
  
Summary of Fair Value Exposure at June 30, 2023 (Unaudited)
         
The American Customer Satisfaction 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 June 30, 2023:

Investments in Securities
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Common Stocks (1)
  
$
72,661,181
    
$
–
    
$
–
    
$
72,661,181
  
Short-Term Investments
    
202,533
      
–
      
–
      
202,533
  
Total Investments in Securities
  
$
72,863,714
    
$
–
    
$
–
    
$
72,863,714
  
           
(1) See Schedule of Investments for the industry breakout.