0001752724-24-041397.txt : 20240227 0001752724-24-041397.hdr.sgml : 20240227 20240227085843 ACCESSION NUMBER: 0001752724-24-041397 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240227 DATE AS OF CHANGE: 20240227 PERIOD START: 20240331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ETF Opportunities Trust CENTRAL INDEX KEY: 0001771146 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-23439 FILM NUMBER: 24682283 BUSINESS ADDRESS: STREET 1: 8370 STONY POINT PARKWAY, SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 BUSINESS PHONE: 804-267-7400 MAIL ADDRESS: STREET 1: 8370 STONY POINT PARKWAY, SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 0001771146 S000071250 Formidable Fortress ETF C000226145 Formidable Fortress ETF KONG NPORT-P 1 primary_doc.xml NPORT-P false 0001771146 XXXXXXXX S000071250 C000226145 ETF Opportunities Trust 811-23439 0001771146 549300FWST5041130Z58 8730 Stony Point Parkway Suite 205 Richmond 23235 804-267-7400 Formidable Fortress ETF S000071250 549300WM25C2V3VL6H50 2024-03-31 2023-12-31 N 27197037.44 86510.15 27110527.29 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1342042.57000000 N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A 100.00000000 NC USD 15200.00000000 0.056066781134 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Purchased SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 100.00000000 458.00000000 USD 2024-01-31 XXXX 646.06000000 N N N UNITED THERAPEUTICS CORPORATION 5299005C4HZL4UWROC14 UNITED THERAPEUTICS CORP CALL OPTION N/A -10.00000000 NC USD -4800.00000000 -0.01770529930 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written UNITED THERAPEUTICS CORPORATION UNITED THERAPEUTICS CORP CALL OPTION 10.00000000 250.00000000 USD 2024-01-19 XXXX -2420.31000000 N N N GRACO INC 4T5VJ4S81BRT6Q7GGT78 GRACO INC 384109104 10876.00000000 NS USD 943601.76000000 3.480573247087 Long EC CORP US N 1 N N N WEST PHARMACEUTICAL SERVICES, INC. 5493007NKRGM1RJQ1P16 WEST PHARMACEUTICAL SERVICES INC 955306105 2173.00000000 NS USD 765156.76000000 2.822360302384 Long EC CORP US N 1 N N N PUBLIC STORAGE. N/A PUBLIC STORAGE CALL OPTION N/A -8.00000000 NC USD -14480.00000000 -0.05341098623 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written PUBLIC STORAGE. PUBLIC STORAGE CALL OPTION 8.00000000 290.00000000 USD 2024-01-19 XXXX -13782.25000000 N N N FASTENAL CO CALL OPTION N/A FASTENAL CO CALL OPTION N/A -25.00000000 NC USD -3875.00000000 -0.01429334058 N/A DE US N 1 N/A N/A Call Written FASTENAL CO CALL OPTION FASTENAL CO CALL OPTION 25.00000000 65.00000000 N/A 2024-01-19 XXXX -3297.75000000 N N N JOHNSON & JOHNSON 549300G0CFPGEF6X2043 JOHNSON JOHNSON 478160104 5697.00000000 NS USD 892947.78000000 3.293730772729 Long EC CORP US N 1 N N N ABIOMED INC CVR N/A ABIOMED INC CVR 003CVR016 1065.00000000 NS USD 0.00000000 0.000000 Long EC US N 3 N N N Texas Pacific Land Corp N/A TEXAS PACIFIC LAND CORP 88262P102 581.00000000 NS USD 913593.45000000 3.369884474128 Long EC CORP US N 1 N N N MONSTER BEVERAGE CORPORATION 52990090AP0E7HCB6F33 MONSTER BEVERAGE CORP 61174X109 14598.00000000 NS USD 840990.78000000 3.102081973559 Long EC CORP US N 1 N N N Amdocs Limited 549300HQV672RJ7RQV66 AMDOCS LTD CALL OPTION N/A -15.00000000 NC USD -1125.00000000 -0.00414967952 N/A DE GG N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written Amdocs Limited AMDOCS LTD CALL OPTION 15.00000000 95.00000000 USD 2024-02-16 XXXX -570.45000000 N N N SNAP-ON INCORPORATED HHWAT5TDOYZMM26KKQ73 SNAP ON INC 833034101 2235.00000000 NS USD 645557.40000000 2.381205622061 Long EC CORP US N 1 N N N AUTOMATIC DATA PROCESSING, INC. HGBOLILQXWER4SAL2I23 AUTOMATIC DATA PROCESSING INC 053015103 3253.00000000 NS USD 757851.41000000 2.795413758992 Long EC CORP US N 1 N N N JACK HENRY & ASSOCIATES, INC. 529900X1QS8C54W0JB21 JACK HENRY ASSOCIATES INC 426281101 5208.00000000 NS USD 851039.28000000 3.139146911074 Long EC CORP US N 1 N N N S&P GLOBAL INC. Y6X4K52KMJMZE7I7MY94 S P GLOBAL INC 78409V104 2089.00000000 NS USD 920246.28000000 3.394424129623 Long EC CORP US N 1 N N N MARKETAXESS HOLDINGS INC. 5493002U1CA1XJOVID83 MARKETAXESS HOLDINGS INC 57060D108 3356.00000000 NS USD 982804.60000000 3.625177000384 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A 50.00000000 NC USD 2850.00000000 0.010512521462 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Purchased SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 50.00000000 455.00000000 USD 2024-01-19 XXXX -12311.47000000 N N N MARKETAXESS HOLDINGS INC. 5493002U1CA1XJOVID83 MARKETAXESS HOLDINGS INC CALL OPTION N/A -10.00000000 NC USD -11300.00000000 -0.04168122544 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written MARKETAXESS HOLDINGS INC. MARKETAXESS HOLDINGS INC CALL OPTION 10.00000000 290.00000000 USD 2024-01-19 XXXX -8283.32000000 N N N CHEMED CORPORATION 54930020031IDJT2IM79 CHEMED CORP 16359R103 1672.00000000 NS USD 977702.00000000 3.606355529501 Long EC CORP US N 1 N N N Amdocs Limited 549300HQV672RJ7RQV66 AMDOCS LTD G02602103 9301.00000000 NS USD 817464.89000000 3.015304281084 Long EC CORP GG N 1 N N N CAMDEN PROPERTY TRUST 5493002MYX22OHYJBD89 CAMDEN PROPERTY TRUST 133131102 9242.00000000 NS USD 917638.18000000 3.384803881474 Long EC CORP US N 1 N N N GENTEX CORPORATION 549300S3UD8XV1MN0287 GENTEX CORP 371901109 28924.00000000 NS USD 944657.84000000 3.484468708022 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A -100.00000000 NC USD -3000.00000000 -0.01106581206 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Written SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 100.00000000 445.00000000 USD 2024-01-19 XXXX 5715.98000000 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A -50.00000000 NC USD -3300.00000000 -0.01217239327 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Written SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 50.00000000 444.00000000 USD 2024-01-31 XXXX -271.50000000 N N N ARCHER-DANIELS-MIDLAND COMPANY. 549300LO13MQ9HYSTR83 ARCHER DANIELS MIDLAND CO CALL OPTION N/A -30.00000000 NC USD -450.00000000 -0.00165987180 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written ARCHER-DANIELS-MIDLAND COMPANY. ARCHER DANIELS MIDLAND CO CALL OPTION 30.00000000 79.00000000 USD 2024-01-12 XXXX 213.11000000 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A 100.00000000 NC USD 8700.00000000 0.032090854991 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Purchased SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 100.00000000 460.00000000 USD 2024-01-19 XXXX -14469.94000000 N N N Coterra Energy Inc. FCNMH6O7VWU7LHXMK351 COTERRA ENERCOTERRA ENERGY CALL OPTION N/A -100.00000000 NC USD -2000.00000000 -0.00737720804 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written Coterra Energy Inc. COTERRA ENERCOTERRA ENERGY CALL OPTION 100.00000000 28.00000000 USD 2024-01-05 XXXX -616.96000000 N N N Coterra Energy Inc. FCNMH6O7VWU7LHXMK351 COTERRA ENERCOTERRA ENERGY INC 127097103 30505.00000000 NS USD 778487.60000000 2.871532492424 Long EC CORP US N 1 N N N CHEMED CORPORATION 54930020031IDJT2IM79 CHEMED CORP CALL OPTION N/A -5.00000000 NC USD -2550.00000000 -0.00940594025 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written CHEMED CORPORATION CHEMED CORP CALL OPTION 5.00000000 610.00000000 USD 2024-01-19 XXXX -2000.16000000 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A -50.00000000 NC USD -1200.00000000 -0.00442632482 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Written SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 50.00000000 440.00000000 USD 2024-01-19 XXXX 4384.48000000 N N N FASTENAL COMPANY 529900PP0C7H2HHPSJ32 FASTENAL CO 311900104 11685.00000000 NS USD 756837.45000000 2.791673662058 Long EC CORP US N 1 N N N ROBERT HALF INC. 529900VPCUY9H3HLIC08 ROBERT HALF INTERNATIONAL INC CALL OPTION N/A -30.00000000 NC USD -3000.00000000 -0.01106581206 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written ROBERT HALF INC. ROBERT HALF INTERNATIONAL INC CALL OPTION 30.00000000 90.00000000 USD 2024-01-19 XXXX -1495.90000000 N N N United States of America 254900HROIFWPRGM1V77 UNITED STATES TREASURY BILL 912797LL9 1381000.00000000 PA USD 1365300.12000000 5.036051513847 Long DBT UST US N 2 2024-03-21 None 0.00000000 N N N N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A -150.00000000 NC USD -3150.00000000 -0.01161910266 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Written SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 150.00000000 435.00000000 USD 2024-01-19 XXXX 13437.45000000 N N N PUBLIC STORAGE. 549300LMZF40TKJ6DM64 PUBLIC STORAGE 74460D109 2923.00000000 NS USD 891515.00000000 3.288445814659 Long EC CORP US N 1 N N N RELIANCE STEEL & ALUMINUM CO. 549300E287ZOFT3C5Z56 RELIANCE STEEL ALUMINUM CO 759509102 2831.00000000 NS USD 791774.08000000 2.920541055990 Long EC CORP US N 1 N N N Gaming and Leisure Properties, Inc. 5493006GWRDBCZYWTM57 GAMING AND LEISURE PROPER CALL OPTION N/A -50.00000000 NC USD -1150.00000000 -0.00424189462 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written Gaming and Leisure Properties, Inc. GAMING AND LEISURE PROPER CALL OPTION 50.00000000 52.50000000 USD 2024-02-16 XXXX -451.48000000 N N N GENTEX CORPORATION 549300S3UD8XV1MN0287 GENTEX CORP CALL OPTION N/A -60.00000000 NC USD -2250.00000000 -0.00829935904 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written GENTEX CORPORATION GENTEX CORP CALL OPTION 60.00000000 35.00000000 USD 2024-02-16 XXXX -850.78000000 N N N JACK HENRY & ASSOCIATES, INC. 529900X1QS8C54W0JB21 JACK HENRY ASSOC CALL OPTION N/A -15.00000000 NC USD -7200.00000000 -0.02655794895 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written JACK HENRY & ASSOCIATES, INC. JACK HENRY ASSOC CALL OPTION 15.00000000 180.00000000 USD 2024-01-19 XXXX -6210.45000000 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A 150.00000000 NC USD 6150.00000000 0.022684914735 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Purchased SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 150.00000000 450.00000000 USD 2024-01-19 XXXX -37464.41000000 N N N ROBERT HALF INC. 529900VPCUY9H3HLIC08 ROBERT HALF INC 770323103 11005.00000000 NS USD 967559.60000000 3.568944232069 Long EC CORP US N 1 N N N ARCHER-DANIELS-MIDLAND COMPANY. 549300LO13MQ9HYSTR83 ARCHER DANIELS MIDLAND CO 039483102 12656.00000000 NS USD 914016.32000000 3.371444274110 Long EC CORP US N 1 N N N VERTEX PHARMACEUTICALS INCORPORATED 54930015RAQRRZ5ZGJ91 VERTEX PHARMACEUTICALS INC 92532F100 1777.00000000 NS USD 723043.53000000 2.667021272827 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A 100.00000000 NC USD 100.00000000 0.000368860402 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Purchased SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 100.00000000 440.00000000 USD 2023-12-29 XXXX -12447.94000000 N N N Gaming and Leisure Properties, Inc. 5493006GWRDBCZYWTM57 GAMING AND LEISURE PROPERTIES INC 36467J108 17575.00000000 NS USD 867326.25000000 3.199223094122 Long EC CORP US N 1 N N N WEST PHARMACEUTICAL SERVICES, INC. 5493007NKRGM1RJQ1P16 WEST PHARMACEUTICAL SERV CALL OPTION N/A -5.00000000 NC USD -1212.50000000 -0.00447243237 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written WEST PHARMACEUTICAL SERVICES, INC. WEST PHARMACEUTICAL SERV CALL OPTION 5.00000000 400.00000000 USD 2024-02-16 XXXX 377.33000000 N N N INTERACTIVE BROKERS GROUP, INC. 5493004DT6DCDUZNDM53 INTERACTIVE BROKERS GROUP INC 45841N107 9258.00000000 NS USD 767488.20000000 2.830960061345 Long EC CORP US N 1 N N N UNITED THERAPEUTICS CORPORATION 5299005C4HZL4UWROC14 UNITED THERAPEUTICS CORP 91307C102 3540.00000000 NS USD 778410.60000000 2.871248469914 Long EC CORP US N 1 N N N REGENERON PHARMACEUTICALS, INC. 549300RCBFWIRX3HYQ56 REGENERON PHARMACEUTICALS INC 75886F107 784.00000000 NS USD 688579.36000000 2.539896596751 Long EC CORP US N 1 N N N ERIE INDEMNITY COMPANY 549300WA5KP94KRUFZ80 ERIE INDEMNITY CO 29530P102 1906.00000000 NS USD 638357.52000000 2.354648115735 Long EC CORP US N 1 N N N NORDSON CORPORATION 14OS6Q5N55N95WM84M53 NORDSON CORP 655663102 3448.00000000 NS USD 910823.68000000 3.359667889366 Long EC CORP US N 1 N N N AUTOMATIC DATA PROCESSING, INC. HGBOLILQXWER4SAL2I23 AUTOMATIC DATA PROCESSING INC CALL OPTION N/A -10.00000000 NC USD -150.00000000 -0.00055329060 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Call Written AUTOMATIC DATA PROCESSING, INC. AUTOMATIC DATA PROCESSING INC CALL OPTION 10.00000000 245.00000000 USD 2024-01-12 XXXX 538.70000000 N N N EMCOR GROUP, INC. 529900X0SQJB2J7YDU43 EMCOR GROUP INC 29084Q100 4087.00000000 NS USD 880462.41000000 3.247677186731 Long EC CORP US N 1 N N N SPDR S&P 500 ETF Trust N/A SPDR S P 500 ETF TRUST PUT OPTION N/A -100.00000000 NC USD -100.00000000 -0.00036886040 N/A DE US N 1 CBOE GLOBAL MARKETS, INC. 529900RLNSGA90UPEH54 Put Written SPDR S&P 500 ETF Trust SPDR S P 500 ETF TRUST PUT OPTION 100.00000000 425.00000000 USD 2023-12-29 XXXX 4475.02000000 N N N CISCO SYSTEMS, INC. 549300LKFJ962MZ46593 CISCO SYSTEMS INC 17275R102 18098.00000000 NS USD 914310.96000000 3.372531084400 Long EC CORP US N 1 N N N 2024-01-30 ETF Opportunities Trust Karen Shupe Karen Shupe Treasurer XXXX NPORT-EX 2 formfortress-soi_123123.htm

 

Formidable Fortress ETF

Schedule of Investments

December 31, 2023 (unaudited)

 

 

       Shares   Value  
 90.15%  COMMON STOCK             
 3.49%  CONSUMER DISCRETIONARY             
     Gentex Corp.  28,924   $  944,658  
                   
 6.47%  CONSUMER STAPLES             
     Archer-Daniels-Midland Co.   12,656     914,016  
     Monster Beverage Corp.(A)   14,598     840,991  
               1,755,007  
                   
 6.24%  ENERGY             
     Coterra Energy, Inc.   30,505     778,488  
     Texas Pacific Land Corp.   581     913,593  
               1,692,081  
                   
 15.34%  FINANCIALS             
     Erie Indemnity Co., Class A   1,906     638,358  
     Interactive Brokers Group, Inc.   9,258     767,488  
     Jack Henry & Associates, Inc.   5,208     851,039  
     MarketAxess Holdings, Inc.   3,356     982,805  
     S&P 500 Global, Inc.   2,089     920,246  
               4,159,936  
                   
 17.80%  HEALTH CARE             
     Chemed Corporation   1,672     977,702  
     Johnson & Johnson   5,697     892,948  
     Regeneron Pharmaceuticals, Inc.(A)   784     688,579  
     United Therapeutics Corp.(A)   3,540     778,411  
     Vertex Pharmaceuticals(A)   1,777     723,044  
     West Pharmaceutical Services I   2,173     765,157  
               4,825,841  
                   
 21.63%  INDUSTRIALS             
     Automatic Data Processing, Inc.   3,253     757,851  
     EMCOR Group, Inc.   4,087     880,462  
     Fastenal Co.   11,685     756,837  
     Graco, Inc.   10,876     943,602  
     Nordson Corp.   3,448     910,824  
     Robert Half International, Inc.   11,005     967,560  
     Snap-on, Inc.   2,235     645,557  
               5,862,693  

 

1

 

 

Formidable Fortress ETF

Schedule of Investments - continued

December 31, 2023 (unaudited)

 

 

       Shares   Value  
 6.39%  INFORMATION TECHNOLOGY             
     AMDOCS LTD ADR   9,301   $ 817,465  
     Cisco Systems, Inc.   18,098     914,311  
               1,731,776  
                   
 2.92%  MATERIALS             
     Reliance Steel & Aluminum Co.   2,831     791,774  
                   
 9.87%  REAL ESTATE             
     Camden Property Trust   9,242     917,638  
     Gaming and Leisure Properties, Inc.   17,575     867,326  
     Public Storage   2,923     891,515  
               2,676,479  
                   
 90.15%  TOTAL COMMON STOCKS         24,440,245  
                   
 5.04%  DEBT SECURITIES             
 5.04%  TREASURIES             
     US Treasury 03/21/2024 0.000%(A)   1,381,000     1,365,300  
                   
 5.04%  TOTAL DEBT SECURITIES         1,365,300  
                   
 0.12%  OPTIONS PURCHASED             

 

    Description  Number of Contracts   Notional Amount   Exercise Price   Expiration Date    Value  
 0.12%  PUT OPTIONS PURCHASED                              
     SPDR S&P 500 ETF Trust   150    7,129,650    450     01/18/2024      6,150  
     SPDR S&P 500 ETF Trust   50    2,376,550    455     01/18/2024      2,850  
     SPDR S&P 500 ETF Trust   100    4,753,100    460     01/18/2024      8,700  
     SPDR S&P 500 ETF Trust   100    4,753,100    458     01/30/2024      15,200  
     SPDR S&P 500 ETF Trust   100    4,753,100    440     12/28/2023      100  
                                33,000  
                                    
 0.12%  TOTAL OPTIONS PURCHASED                        $ 33,000  
                                    
 95.31%  TOTAL INVESTMENTS                          25,838,545  
 4.69%  Assets net of liabilities                          1,271,982  
 100.00%  NET ASSETS                        $ 27,110,527  
                                    
 (0.24%)  OPTIONS WRITTEN                              
 (0.20%)  CALL                              
     Archer-Daniels-Midland Co.   (30)   (216,660)   79     01/11/2024      (450 ) 
     Automatic Data Processing, Inc.   (10)   (232,970)   245     01/11/2024      (150 ) 
     Chemed Corporation   (5)   (292,375)   610     01/18/2024      (2,550 )
     Coterra Energy, Inc.   (100)   (255,200)   28     01/04/2024      (2,000 )
     Amdocs Ltd.   (15)   (131,835)   95     02/15/2024      (1,125 )
     Fastenal Co.   (25)   (161,925)   65     01/18/2024      (3,875 )
     Gaming and Leisure Properties, Inc.   (50)   (246,750)   52.5     02/15/2024      (1,150 )
     Gentex Corp.   (60)   (195,960)   35     02/15/2024      (2,250 )
     Jack Henry & Associates, Inc.   (15)   (245,115)   180     01/18/2024      (7,200 )
     MarketAxess Holdings, Inc.   (10)   (292,850)   290     01/18/2024      (11,300 )
     Public Storage   (8)   (244,000)   290     01/18/2024      (14,480 )
     Robert Half International, Inc.   (30)   (263,760)   90     01/18/2024      (3,000 ) 
     United Therapeutics Corp.   (10)   (219,890)   250     01/18/2024      (4,800 ) 
     West Pharmaceutical Services, Inc.   (5)   (176,060)   400     02/15/2024      (1,212 ) 
                                (55,542 ) 
                                    
 (0.04%)  PUT                              
     SPDR S&P 500 ETF Trust   (150)   (7,129,650)   435     01/18/2024      (3,150 )
     SPDR S&P 500 ETF Trust   (50)   (2,376,550)   440     01/18/2024      (1,200 ) 
     SPDR S&P 500 ETF Trust   (100)   (4,753,100)   445     01/18/2024      (3,000 ) 
     SPDR S&P 500 ETF Trust   (50)   (2,376,550)   444     01/30/2024      (3,300 ) 
     SPDR S&P 500 ETF Trust   (100)   (4,753,100)   42     12/28/2023      (100 )
                                (10,750 )
                                    
 (0.24%)  TOTAL OPTIONS WRITTEN                          (66,292 )
                                    
 0.12%  TOTAL OPTIONS                          33,000  

 

(A)Non-income producing 

(B)Effective 7 day yield as of December 31, 2023

See Notes to Schedule of Investments

 

2

 

 

Formidable Fortress ETF

Schedule of Investments - continued

December 31, 2023 (unaudited)

 

 

In accordance with U.S. GAAP, “fair value” is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

 

The following is a summary of the inputs used to value the Fund’s investments as of December 31, 2023:

 

   Level 1   Level 2   Level 3     
  

Quoted

Prices

  

Other 

Significant 

Observable Inputs 

  

Significant 

Unobservable 

Inputs 

    Total 
COMMON STOCKS  $24,440,245   $—   $—   $24,440,245 
TREASURIES  $1,365,300             $1,365,300 
OPTIONS PURCHASED   —   $33,000    —    33,000 
TOTAL INVESTMENTS  $25,805,545   $33,000   $—   $25,838,545 
OPTIONS WRITTEN  $—   $(66,292)  $—   $(66,292)

 

The Fund held no Level 3 securities at any time during the period.

 

There were no transfers into or out of Levels 1 and 2 during the period ended December 31, 2023.

 

At December 31, 2023 the cost of investments for Federal income tax purposes has been estimated since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $24,066,987 and the related tax-based net unrealized appreciation (depreciation) consists of:

 

  Gross unrealized appreciation  $2,182,577 
  Gross unrealized depreciation   (477,311)
  Net unrealized appreciation  $(1,705,266)

 

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