NPORT-EX 2 siren.htm

Siren DIVCON Leaders Dividend ETF
  
Schedule of Investments
  
June 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 99.9%
  
Shares
    
Value
  
Communications - 1.2%
        
Comcast Corp. - Class A
    
16,859
    
$
660,198
  
                 
Consumer Discretionary - 4.9%
          
D.R. Horton, Inc.
    
5,375
      
757,498
  
McDonald's Corp.
    
4,076
      
1,038,728
  
PulteGroup, Inc.
    
8,178
      
900,398
  
             
2,696,624
  
                 
Consumer Staples - 8.4%
          
Costco Wholesale Corp.
    
3,028
      
2,573,770
  
Lamb Weston Holdings, Inc.
    
7,188
      
604,367
  
The Hershey Co.
    
3,797
      
698,003
  
The Procter & Gamble Co.
    
4,697
      
774,629
  
             
4,650,769
  
                 
Energy - 1.4%
          
Marathon Petroleum Corp.
    
4,592
      
796,620
  
                 
Financials - 13.2%
          
Aon PLC - Class A
    
2,244
      
658,793
  
Brown & Brown, Inc.
    
9,563
      
855,028
  
Cboe Global Markets, Inc.
    
3,899
      
663,064
  
Chubb Ltd.
    
3,098
      
790,238
  
CME Group, Inc.
    
3,054
      
600,416
  
Globe Life, Inc.
    
5,813
      
478,294
  
Marsh & McLennan Companies, Inc.
    
3,601
      
758,803
  
Mastercard, Inc. - Class A
    
2,968
      
1,309,363
  
Visa, Inc. - Class A
    
4,747
      
1,245,945
  
             
7,359,944
  
                 
Industrials - 27.3%(a)
          
A O Smith Corp.
    
9,453
      
773,066
  
Allegion PLC
    
6,548
      
773,646
  
Cintas Corp.
    
2,083
      
1,458,641
  
Cummins, Inc.
    
3,120
      
864,022
  
Eaton Corp. PLC
    
3,088
      
968,242
  
Fastenal Co.
    
11,880
      
746,539
  
Honeywell International, Inc.
    
3,596
      
767,890
  
Hubbell, Inc.
    
3,836
      
1,401,981
  
Illinois Tool Works, Inc.
    
3,034
      
718,937
  
Jacobs Solutions, Inc.
    
5,617
      
784,751
  
Lockheed Martin Corp.
    
1,599
      
746,893
  
Nordson Corp.
    
2,990
      
693,501
  
Old Dominion Freight Line, Inc.
    
5,610
      
990,726
  
Rockwell Automation, Inc.
    
2,546
      
700,863
  
Snap-on, Inc.
    
5,702
      
1,490,446
  
W.W. Grainger, Inc.
    
1,492
      
1,346,142
  
             
15,226,286
  
                 
Materials - 7.7%
          
Albemarle Corp.
    
5,682
      
542,745
  
Linde PLC
    
1,767
      
775,377
  
Martin Marietta Materials, Inc.
    
2,495
      
1,351,791
  
PPG Industries, Inc.
    
6,936
      
873,173
  
The Sherwin-Williams Co.
    
2,569
      
766,667
  
             
4,309,753
  
                 
Technology - 35.8%(a)
          
Accenture PLC - Class A
    
3,513
      
1,065,879
  
Analog Devices, Inc.
    
4,215
      
962,116
  
Apple, Inc.
    
3,893
      
819,944
  
Applied Materials, Inc.
    
4,947
      
1,167,443
  
Broadcom, Inc.
    
1,325
      
2,127,327
  
Broadridge Financial Solutions, Inc.
    
3,642
      
717,474
  
CDW Corporation of Delaware
    
5,826
      
1,304,092
  
Cisco Systems, Inc.
    
14,624
      
694,786
  
FactSet Research Systems, Inc.
    
2,530
      
1,032,923
  
Intuit, Inc.
    
1,318
      
866,203
  
KLA Corp.
    
2,171
      
1,790,011
  
Microchip Technology, Inc.
    
9,116
      
834,114
  
Microsoft Corp.
    
1,949
      
871,106
  
Monolithic Power Systems, Inc.
    
2,010
      
1,651,577
  
Moody's Corp.
    
1,895
      
797,662
  
Motorola Solutions, Inc.
    
2,213
      
854,329
  
MSCI, Inc.
    
2,254
      
1,085,864
  
Verisk Analytics, Inc.
    
4,911
      
1,323,760
  
             
19,966,610
  
TOTAL COMMON STOCKS (Cost $48,612,356)
      
55,666,804
  
                 
SHORT-TERM INVESTMENTS - 0.1%
                
Money Market Funds - 0.1%
  
Shares
          
First American Government Obligations Fund, 5.23% (b)
    
68,477
      
68,477
  
TOTAL SHORT-TERM INVESTMENTS (Cost $68,477)
      
68,477
  
                 
TOTAL INVESTMENTS - 100.0% (Cost $48,680,833)
      
55,735,281
  
Liabilities in Excess of Other Assets - (0.0)% (c)
      
(1,085
)
TOTAL NET ASSETS - 100.0%
          
$
55,734,196
  
               
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company

(a)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)
The rate shown represents the 7-day effective yield as of June 30, 2024.
(c)
Represents less than 0.05% of net assets.


Siren DIVCON Dividend Defender ETF
  
Schedule of Investments
  
June 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 89.1%
  
Shares
    
Value
  
Communications - 1.1%
        
Comcast Corp. - Class A
    
2,907
    
$
113,838
  
                 
Consumer Discretionary - 5.2%
          
D.R. Horton, Inc.
    
989
      
139,380
  
McDonald's Corp.
    
813
      
207,185
  
PulteGroup, Inc.
    
1,702
      
187,390
  
             
533,955
  
                 
Consumer Staples - 6.4%
          
Costco Wholesale Corp.
    
143
      
121,549
  
Lamb Weston Holdings, Inc.
    
1,550
      
130,324
  
The Hershey Co.
    
839
      
154,233
  
The Procter & Gamble Co.
    
1,500
      
247,380
  
             
653,486
  
                 
Energy - 2.5%
          
Marathon Petroleum Corp.
    
1,467
      
254,495
  
                 
Financials - 12.9%
          
Aon PLC - Class A
    
444
      
130,349
  
Brown & Brown, Inc.
    
2,143
      
191,606
  
Cboe Global Markets, Inc.
    
699
      
118,872
  
Chubb Ltd.
    
535
      
136,468
  
CME Group, Inc.
    
612
      
120,319
  
Globe Life, Inc.
    
945
      
77,755
  
Marsh & McLennan Companies, Inc.
    
604
      
127,275
  
Mastercard, Inc. - Class A
    
371
      
163,670
  
Visa, Inc. - Class A
    
958
      
251,446
  
             
1,317,760
  
                 
Industrials - 25.5%(a)
          
A O Smith Corp.
    
1,653
      
135,182
  
Allegion PLC
    
1,181
      
139,535
  
Cintas Corp.
    
330
      
231,086
  
Cummins, Inc.
    
633
      
175,297
  
Eaton Corp. PLC
    
531
      
166,495
  
Fastenal Co.
    
1,517
      
95,328
  
Honeywell International, Inc.
    
694
      
148,197
  
Hubbell, Inc.
    
317
      
115,857
  
Illinois Tool Works, Inc.
    
697
      
165,161
  
Jacobs Solutions, Inc.
    
1,111
      
155,218
  
Lockheed Martin Corp.
    
420
      
196,182
  
Nordson Corp.
    
955
      
221,503
  
Old Dominion Freight Line, Inc.
    
436
      
76,997
  
Rockwell Automation, Inc.
    
632
      
173,977
  
Snap-on, Inc.
    
818
      
213,817
  
W.W. Grainger, Inc.
    
211
      
190,373
  
             
2,600,205
  
                 
Materials - 8.7%
          
Albemarle Corp.
    
1,086
      
103,735
  
Linde PLC
    
292
      
128,132
  
Martin Marietta Materials, Inc.
    
483
      
261,689
  
PPG Industries, Inc.
    
1,576
      
198,403
  
The Sherwin-Williams Co.
    
639
      
190,697
  
             
882,656
  
                 
Technology - 26.8%(a)
          
Accenture PLC - Class A
    
103
      
31,251
  
Analog Devices, Inc.
    
710
      
162,065
  
Apple, Inc.
    
461
      
97,096
  
Applied Materials, Inc.
    
942
      
222,303
  
Broadcom, Inc.
    
55
      
88,304
  
Broadridge Financial Solutions, Inc.
    
363
      
71,511
  
Cisco Systems, Inc.
    
2,849
      
135,356
  
FactSet Research Systems, Inc.
    
494
      
201,685
  
Intuit, Inc.
    
122
      
80,180
  
KLA Corp.
    
414
      
341,347
  
Microchip Technology, Inc.
    
2,911
      
266,356
  
Microsoft Corp.
    
259
      
115,760
  
Monolithic Power Systems, Inc.
    
251
      
206,242
  
Moody's Corp.
    
423
      
178,053
  
Motorola Solutions, Inc.
    
416
      
160,597
  
MSCI, Inc.
    
241
      
116,102
  
Verisk Analytics, Inc.
    
940
      
253,377
  
             
2,727,585
  
TOTAL COMMON STOCKS (Cost $7,922,338)
      
9,083,980
  
                 
SHORT-TERM INVESTMENTS - 10.2%
                
Money Market Funds - 10.2%
  
Shares
          
First American Government Obligations Fund, 5.23% (b)
    
1,037,321
      
1,037,321
  
TOTAL SHORT-TERM INVESTMENTS (Cost $1,037,321)
      
1,037,321
  
                 
TOTAL INVESTMENTS - 99.3% (Cost $8,959,659)
      
10,121,301
  
Other Assets in Excess of Liabilities - 0.7%
      
75,644
  
TOTAL NET ASSETS - 100.0%
          
$
10,196,945
  
               
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company

(a)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)
The rate shown represents the 7-day effective yield as of June 30, 2024.


Siren DIVCON Dividend Defender ETF
  
Schedule of Securities Sold Short
  
June 30, 2024 (Unaudited)
  
   
COMMON STOCKS - (26.1)%
  
Shares
    
Value
  
Communications - (4.3)%
        
AT&T, Inc.
    
(10,847
)
  
$
(207,286
)
News Corp. - Class B
    
(6,784
)
    
(192,598
)
Paramount Global - Class B
    
(3,248
)
    
(33,747
)
             
(433,631
)
                 
Consumer Discretionary - (3.7)%
          
Ford Motor Co.
    
(23,953
)
    
(300,371
)
VF Corp.
    
(5,960
)
    
(80,460
)
             
(380,831
)
                 
Energy - (2.6)%
          
APA Corp.
    
(4,015
)
    
(118,201
)
Devon Energy Corp.
    
(3,144
)
    
(149,026
)
             
(267,227
)
                 
Industrials - (2.0)%
          
Southwest Airlines Co.
    
(6,971
)
    
(199,440
)
                 
Materials - (6.5)%
          
Freeport-McMoRan, Inc.
    
(4,744
)
    
(230,558
)
International Paper Co.
    
(4,495
)
    
(193,959
)
Westrock Co.
    
(4,707
)
    
(236,574
)
             
(661,091
)
                 
Technology - (1.4)%
          
Intel Corp.
    
(4,763
)
    
(147,510
)
                 
Utilities - (5.6)%
          
CenterPoint Energy, Inc.
    
(9,395
)
    
(291,057
)
Dominion Energy, Inc.
    
(5,797
)
    
(284,053
)
             
(575,110
)
TOTAL COMMON STOCKS (Proceeds $2,567,008)
      
(2,664,840
)
                 
TOTAL SECURITIES SOLD SHORT - (26.1)% (Proceeds $2,567,008)
          
$
(2,664,840
)
                 
Percentages are stated as a percent of net assets.
                


Siren Nasdaq NexGen Economy ETF
  
Schedule of Investments
  
June 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 98.5%
  
Shares
    
Value
  
Communications - 10.9%
        
Baidu, Inc. - ADR (a)
    
17,764
    
$
1,536,231
  
Digital Garage, Inc.
    
71,867
      
1,103,310
  
GMO Internet, Inc.
    
66,755
      
1,019,021
  
Meta Platforms, Inc. - Class A
    
5,547
      
2,796,908
  
Swisscom AG
    
1,836
      
1,032,999
  
             
7,488,469
  
                 
Consumer Discretionary - 6.3%
          
Alibaba Group Holding Ltd. - ADR
    
23,189
      
1,669,608
  
Beyond, Inc. (a)
    
81,405
      
1,064,777
  
JD.com, Inc. - ADR
    
31,684
      
818,715
  
Rakuten Group, Inc. (a)
    
146,990
      
758,201
  
             
4,311,301
  
                 
Consumer Staples - 1.9%
          
Walmart, Inc.
    
19,150
      
1,296,647
  
                 
Financials - 31.0%(b)
          
American Express Co.
    
4,146
      
960,006
  
BlackRock, Inc.
    
2,155
      
1,696,675
  
Coinbase Global, Inc. - Class A (a)
    
12,774
      
2,838,766
  
Customers Bancorp, Inc. (a)
    
11,309
      
542,606
  
Deutsche Boerse AG
    
4,492
      
919,327
  
Galaxy Digital Holdings Ltd. (a)
    
46,723
      
545,765
  
Intercontinental Exchange, Inc.
    
3,182
      
435,584
  
JPMorgan Chase & Co.
    
4,916
      
994,310
  
Mastercard, Inc. - Class A
    
4,239
      
1,870,077
  
Nasdaq, Inc.
    
12,616
      
760,240
  
NU Holdings Ltd. - Class A (a)
    
158,949
      
2,048,853
  
PayPal Holdings, Inc. (a)
    
17,861
      
1,036,474
  
Plus500 Ltd.
    
20,419
      
584,890
  
Robinhood Markets, Inc. - Class A (a)
    
53,139
      
1,206,787
  
SBI Holdings, Inc.
    
36,888
      
932,460
  
The Bank of New York Mellon Corp.
    
20,990
      
1,257,091
  
The Goldman Sachs Group,  Inc.
    
2,320
      
1,049,382
  
Visa, Inc. - Class A
    
2,454
      
644,101
  
WisdomTree, Inc.
    
85,505
      
847,354
  
             
21,170,748
  
                 
Industrials - 3.3%
          
Hitachi Ltd.
    
53,205
      
1,190,821
  
Siemens AG
    
5,808
      
1,080,552
  
             
2,271,373
  
                 
Technology - 45.1%(b)
          
Accenture PLC - Class A
    
4,711
      
1,429,364
  
Advanced Micro Devices, Inc. (a)
    
7,295
      
1,183,322
  
Block, Inc. (a)
    
25,716
      
1,658,425
  
Broadridge Financial Solutions, Inc.
    
7,919
      
1,560,043
  
Canaan, Inc. - ADR (a)
    
146,547
      
146,518
  
Cisco Systems, Inc.
    
18,919
      
898,842
  
Cleanspark, Inc. (a)
    
158,144
      
2,522,397
  
Fujitsu Ltd.
    
78,202
      
1,223,410
  
Hewlett Packard Enterprise Co.
    
17,833
      
377,525
  
Infosys Ltd. - ADR
    
48,880
      
910,146
  
International Business Machines Corp.
    
4,691
      
811,308
  
Marathon Digital Holdings, Inc. (a)
    
151,252
      
3,002,352
  
Micron Technology, Inc.
    
6,568
      
863,889
  
Microsoft Corp.
    
3,533
      
1,579,074
  
MicroStrategy, Inc. - Class A (a)
    
2,122
      
2,923,012
  
NTT Data Group Corp.
    
60,942
      
894,680
  
NVIDIA Corp.
    
24,716
      
3,053,415
  
Oracle Corp.
    
7,446
      
1,051,375
  
Samsung Electronics Co. Ltd. - GDR
    
955
      
1,413,400
  
SAP SE - ADR
    
5,506
      
1,110,615
  
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR
    
7,847
      
1,363,887
  
Texas Instruments, Inc.
    
4,547
      
884,528
  
             
30,861,527
  
TOTAL COMMON STOCKS (Cost $57,719,823)
      
67,400,065
  
                 
SHORT-TERM INVESTMENTS - 1.0%
                
Money Market Funds - 1.0%
  
Shares
          
First American Government Obligations Fund, 5.23% (c)
    
651,244
      
651,244
  
TOTAL SHORT-TERM INVESTMENTS (Cost $651,244)
      
651,244
  
                 
TOTAL INVESTMENTS - 99.5% (Cost $58,371,067)
      
68,051,309
  
Other Assets in Excess of Liabilities - 0.5%
      
327,251
  
TOTAL NET ASSETS - 100.0%
          
$
68,378,560
  
               
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt
AG - Aktiengesellschaft
GDR - Global Depositary Receipt
PLC - Public Limited Company

(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(c)
The rate shown represents the 7-day effective yield as of June 30, 2024.


The net asset value (“NAV”) per share of each Fund is calculated each business day as of the close of regular trading on the New York Stock Exchange (“NYSE”), generally 4:00 p.m., Eastern Time. The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds’ shares will not be priced on the days on which the NYSE is closed for trading. The offering and redemption price per share for each Fund is equal to the NAV per share.
 
Securities held by the Funds are valued at market quotations when reliable market quotations are readily available. Exchange traded securities and instruments (including equity securities, depositary receipts and ETFs) are generally valued at the last reported sale price on the principal exchange on which such securities are traded (at the NASDAQ Official Closing Price for NASDAQ listed securities), as of the close of regular trading on the NYSE on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Over-the-counter (“OTC”) securities and instruments not traded on an exchange are generally valued at the last traded price. In the absence of a recorded transaction sale price or if the last sale price is unavailable, OTC securities are valued at the mean between last bid and ask, as quoted. If an ask price for an OTC security is unavailable, the last bid price is used. Such valuations would typically be categorized as Level 1 or Level 2 in the fair value hierarchy described below.
 
When reliable market quotations are not readily available, securities are priced at their fair value in accordance with the Trust’s valuation procedures, which were approved by the Trustees. The Funds may use fair value pricing in a variety of circumstances, including but not limited to, situations when the value of a Fund’s security has been materially affected by events occurring after the close of the market on which such security is principally traded (such as a corporate action or other news that may materially affect the price of such security) or trading in such security has been suspended or halted. Such valuations would typically be categorized as Level 2 or Level 3 in the fair value hierarchy described below. Fair value pricing involves subjective judgments, and it is possible that a fair value determination for a security is materially different than the value that could be realized upon the sale of such security. In addition, fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by the Funds’ target Index. This may adversely affect a Fund’s ability to track its Target Index.
 
The Funds disclose the fair market value of their investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:
 
• Level 1 — Quoted prices in active markets for identical assets.
 
• Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
• Level 3 — Significant unobservable inputs (including the Fund’s own assumptions in determining the 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 Funds’ investments as of June 30, 2024:
 
Siren DIVCON Leaders Dividend ETF
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
55,666,804
    
$
–
    
$
–
    
$
55,666,804
  
  Money Market Funds
    
68,477
      
–
      
–
      
68,477
  
Total Investments
  
$
55,735,281
    
$
–
    
$
–
    
$
55,735,281
  

Siren DIVCON Dividend Defender ETF
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Common Stocks
  
$
9,083,980
    
$
–
    
$
–
    
$
9,083,980
  
  Money Market Funds
    
1,037,321
      
–
      
–
      
1,037,321
  
Total Investments
  
$
10,121,301
    
$
–
    
$
–
    
$
10,121,301
  
                                 
Liabilities:
                                
Investments:
                                
  Common Stocks
    
(2,664,840
)
    
–
      
–
      
(2,664,840
)
Total Investments
  
$
(2,664,840
)
  
$
–
    
$
–
    
$
(2,664,840
)

Siren Nasdaq NexGen Economy ETF
        
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
67,400,065
    
$
–
    
$
–
    
$
67,400,065
  
  Money Market Funds
    
651,244
      
–
      
–
      
651,244
  
Total Investments
  
$
68,051,309
    
$
–
    
$
–
    
$
68,051,309
  
   
Refer to the Schedule of Investments for additional information.
  


Tax Disclosure - The Funds’ policy is to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as regulated investment companies and distribute substantially all net taxable investment income and net realized gains to shareholders in a manner which results in no tax cost to the Funds. Therefore, no federal income tax provision is required. The Funds plan to file U.S. Federal and various state and local tax returns.
 
The Funds recognize the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed the Funds’ uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits on uncertain tax positions as income tax expenses in the Statements of Operations. During the period ended June 30, 2024, the Funds did not incur any interest or penalties.