Intelligent Real Estate ETF
Schedule of Investments
as of April 30, 2024 (Unaudited)
| REAL ESTATE INVESTMENT TRUSTS - 96.8% | Shares | Value | ||||||
| Agree Realty Corp. | 1,197 | $ | 68,492 | |||||
| Alexandria Real Estate Equities, Inc. | 803 | 93,044 | ||||||
| American Assets Trust, Inc. | 4,750 | 101,413 | ||||||
| American Tower Corp. | 516 | 88,525 | ||||||
| AvalonBay Communities, Inc. | 369 | 69,951 | ||||||
| Boston Properties, Inc. | 1,635 | 101,190 | ||||||
| Camden Property Trust | 692 | 68,979 | ||||||
| Cousins Properties, Inc. | 4,435 | 101,739 | ||||||
| Crown Castle, Inc. | 981 | 91,998 | ||||||
| CubeSmart | 1,542 | 62,358 | ||||||
| Douglas Emmett, Inc. | 5,044 | 69,153 | ||||||
| Equity Residential | 1,096 | 70,582 | ||||||
| Essex Property Trust, Inc. | 420 | 103,425 | ||||||
| Extra Space Storage, Inc. | 711 | 95,473 | ||||||
| Federal Realty Investment Trust | 1,016 | 105,837 | ||||||
| First Industrial Realty Trust, Inc. | 1,304 | 59,228 | ||||||
| Healthcare Realty Trust, Inc. | 4,984 | 70,922 | ||||||
| Healthpeak Properties, Inc. | 5,689 | 105,873 | ||||||
| Highwoods Properties, Inc. | 2,747 | 71,971 | ||||||
| Independence Realty Trust, Inc. | 4,254 | 67,086 | ||||||
| Innovative Industrial Properties, Inc. | 648 | 67,002 | ||||||
| Kilroy Realty Corp. | 2,806 | 94,843 | ||||||
| Kimco Realty Corp. | 5,314 | 99,000 | ||||||
| Mid-America Apartment Communities, Inc. | 518 | 67,340 | ||||||
| Omega Healthcare Investors, Inc. | 2,169 | 65,959 | ||||||
| Piedmont Office Realty Trust, Inc. - Class A | 15,398 | 106,092 | ||||||
| Prologis, Inc. | 530 | 54,087 | ||||||
| Public Storage | 242 | 62,787 | ||||||
| Realty Income Corp. | 1,911 | 102,315 | ||||||
| Rexford Industrial Realty, Inc. | 1,375 | 58,864 | ||||||
| Safehold, Inc. | 3,370 | 61,469 | ||||||
| SBA Communications Corp. | 469 | 87,290 | ||||||
| STAG Industrial, Inc. - Class A | 1,767 | 60,767 | ||||||
| Sun Communities, Inc. | 799 | 88,945 | ||||||
| UDR, Inc. | 1,829 | 69,648 | ||||||
| Ventas, Inc. | 1,572 | 69,608 | ||||||
| VICI Properties, Inc. | 3,454 | 98,612 | ||||||
| Weyerhaeuser Co. | 2,832 | 85,441 | ||||||
| WP Carey, Inc. | 1,805 | 98,986 | ||||||
| TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $3,308,295) | 3,166,294 | |||||||
| COMMON STOCKS - 2.9% | ||||||||
| Real Estate - 2.9% | ||||||||
| Jones Lang LaSalle, Inc.(a) | 525 | 94,868 | ||||||
| TOTAL COMMON STOCKS (Cost $100,091) | 94,868 | |||||||
| SHORT-TERM INVESTMENTS - 0.3% | ||||||||
| Money Market Funds - 0.3% | ||||||||
| First American Government Obligations Fund - Class X, 5.23%(b) | 11,340 | 11,340 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $11,340) | 11,340 | |||||||
| TOTAL INVESTMENTS - 100.0% (Cost $3,419,726) | $ | 3,272,502 | ||||||
| Other Assets in Excess of Liabilities - 0.0%(c) | 997 | |||||||
| TOTAL NET ASSETS - 100.0% | $ | 3,273,499 | ||||||
Percentages are stated as a percent of net assets.
| (a) | Non-income producing security. | |
| (b) | The rate shown represents the annualized 7-day effective yield as of April 30, 2024. | |
| (c) | Represents less than 0.05% of net assets. |
Summary of Fair Value Exposure at April 30, 2024 (Unaudited)
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, 2024:
Intelligent Real Estate ETF |
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Real Estate Investment Trusts | $ | 3,166,294 | $ | — | $ | — | $ | 3,166,294 | ||||||||
| Common Stocks(a) | 94,868 | — | — | 94,868 | ||||||||||||
| Money Market Funds | 11,340 | — | — | 11,340 | ||||||||||||
| Total Assets | $ | 3,272,502 | $ | — | $ | — | $ | 3,272,502 | ||||||||
(a) Refer to the Schedule of Investments for industry classifications.