MOTLEY FOOL NEXT INDEX ETF
PORTFOLIO OF INVESTMENTS
NOVEMBER 30, 2023 (Unaudited)
	NUMBER OF SHARES		VALUE
COMMON STOCKS — 99.8%
Aerospace & Defense — 3.7%
AeroVironment, Inc. (United States) (a)		442	$	60,824
Axon Enterprise, Inc. (United States) (a)		1,264		290,556
HEICO Corp. (United States)		2,046		349,926
Textron, Inc. (United States)		3,325		254,895
				956,201
Air Freight & Logistics — 0.4%
GXO Logistics, Inc. (United States) (a)		1,995		112,239
Automobile Components — 0.6%
BorgWarner, Inc. (United States)		3,944		132,873
Phinia, Inc. (United States)		800		20,400
				153,273
Banks — 0.5%
Axos Financial, Inc. (United States) (a)		1,006		38,500
Western Alliance Bancorp (United States)		1,842		94,347
				132,847
Beverages — 1.0%
Boston Beer Co., Inc., Class A (United States) (a)		204		72,371
Celsius Holdings, Inc. (United States) (a)		3,873		191,752
				264,123
Biotechnology — 5.3%
2seventy bio, Inc. (United States) (a)		855		1,565
Alnylam Pharmaceuticals, Inc. (United States) (a)		2,113		355,512
AnaptysBio, Inc. (United States) (a)		472		6,674
BioMarin Pharmaceutical, Inc. (United States) (a)		3,180		289,634
Bluebird Bio, Inc. (United States) (a)		1,809		6,910
Editas Medicine, Inc. (United States) (a)		1,324		13,942
Emergent BioSolutions, Inc. (United States) (a)		832		1,780
Exact Sciences Corp. (United States) (a)		3,044		194,816
Exelixis, Inc. (United States) (a)		5,360		116,902
Ionis Pharmaceuticals, Inc. (United States) (a)		2,405		118,975
Mirati Therapeutics, Inc. (United States) (a)		1,154		65,490
Neurocrine Biosciences, Inc. (United States) (a)		1,647		192,024
				1,364,224
Broadline Retail — 0.6%
Etsy, Inc. (United States) (a)		2,075		157,306
Building Products — 0.5%
Trex Co., Inc. (United States) (a)		1,829		128,524
Capital Markets — 4.5%
Affiliated Managers Group, Inc. (United States)		594		80,517
Cboe Global Markets, Inc. (United States)		1,783		324,845
FactSet Research Systems, Inc. (United States)		642		291,121
Interactive Brokers Group, Inc., Class A (United States)		1,808		140,735
Jefferies Financial Group, Inc. (United States)		3,722		131,908
MarketAxess Holdings, Inc. (United States)		636		152,716
PJT Partners, Inc., Class A (United States)		408		36,744
				1,158,586
Chemicals — 1.1%
Balchem Corp. (United States)		546		68,097
RPM International, Inc. (United States)		2,175		223,873
				291,970
Commercial Services & Supplies — 1.4%
Healthcare Services Group, Inc. (United States)		1,248		12,118
Rollins, Inc. (United States)		8,212		334,557
				346,675
Communications Equipment — 0.4%
Ubiquiti, Inc. (United States)		1,019		114,393
Construction & Engineering — 0.3%
MasTec, Inc. (United States) (a)		1,302		78,953
Consumer Finance — 0.1%
Upstart Holdings, Inc. (United States) (a)		1,407		37,651
Consumer Staples Distribution & Retail — 0.7%
Casey's General Stores, Inc. (United States)		629		173,227
Distributors — 0.8%
LKQ Corp. (United States)		4,551		202,656
Diversified Consumer Services — 0.8%
2U, Inc. (United States) (a)		1,184		1,163
Chegg, Inc. (United States) (a)		1,945		19,314
Duolingo, Inc. (United States) (a)		697		147,966
Rover Group, Inc. (United States) (a)		3,058		33,455
				201,898
Diversified Telecommunication Services — 0.0%
Bandwidth, Inc., Class A (United States) (a)		402		4,414
Electronic Equipment, Instruments & Components — 3.9%
Cognex Corp. (United States)		2,903		109,443
Coherent Corp. (United States) (a)		2,542		93,520
Corning, Inc. (United States)		14,553		414,615
IPG Photonics Corp. (United States) (a)		795		76,129
Littelfuse, Inc. (United States)		422		98,242
Zebra Technologies Corp., Class A (United States) (a)		868		205,699
				997,648
Energy Equipment & Services — 0.2%
Core Laboratories, Inc. (United States)		787		13,938
Oceaneering International, Inc. (United States) (a)		1,675		34,605
				48,543
Entertainment — 4.0%
Live Nation Entertainment, Inc. (United States) (a)		3,854		324,584
Roku, Inc. (United States) (a)		2,389		248,934
Skillz, Inc. (United States) (a)		331		1,973
Take-Two Interactive Software, Inc. (United States) (a)		2,870		454,033
				1,029,524
Financial Services — 2.5%
Euronet Worldwide, Inc. (United States) (a)		844		73,614
Jack Henry & Associates, Inc. (United States)		1,230		195,188
Marqeta, Inc., Class A (United States) (a)		8,936		56,744
Toast, Inc., Class A (United States) (a)		9,000		133,830
Walker & Dunlop, Inc. (United States)		567		47,639
WEX, Inc. (United States) (a)		727		128,374
				635,389
Food Products — 1.8%
Darling Ingredients, Inc. (United States) (a)		2,686		117,835
Freshpet, Inc. (United States) (a)		815		57,824
McCormick & Co., Inc./MD (United States)		4,563		295,819
				471,478
Ground Transportation — 1.5%
AMERCO (United States) (a)		3,168		179,340
RXO, Inc. (United States) (a)		1,984		41,585
XPO Logistics, Inc. (United States) (a)		1,953		168,505
				389,430
Health Care Equipment & Supplies — 2.8%
Globus Medical, Inc., Class A (United States) (a)		2,355		105,787
Inari Medical, Inc. (United States) (a)		970		57,899
Insulet Corp. (United States) (a)		1,173		221,803
Masimo Corp. (United States) (a)		896		84,009
QuidelOrtho Corp. (United States) (a)		1,135		78,009
Shockwave Medical, Inc. (United States) (a)		617		107,697
STAAR Surgical Co. (United States) (a)		804		25,213
TransMedics Group, Inc. (United States) (a)		552		41,775
				722,192
Health Care Providers & Services — 1.6%
Fulgent Genetics, Inc. (United States) (a)		508		14,011
Guardant Health, Inc. (United States) (a)		1,988		50,038
HealthEquity, Inc. (United States) (a)		1,438		96,375
Quest Diagnostics, Inc. (United States)		1,908		261,834
				422,258
Health Care Technology — 0.7%
Doximity, Inc., Class A (United States) (a)		3,300		76,725
GoodRx Holdings, Inc., Class A (United States) (a)		6,579		39,408
Teladoc, Inc. (United States) (a)		2,775		50,339
				166,472
Hotels, Restaurants & Leisure — 2.9%
Dave & Buster's Entertainment, Inc. (United States) (a)		732		30,041
Hyatt Hotels Corp., Class A (United States)		1,749		200,715
Planet Fitness, Inc., Class A (United States) (a)		1,425		96,815
Sweetgreen, Inc., Class A (United States) (a)		1,828		17,201
Texas Roadhouse, Inc. (United States)		1,127		126,855
Vail Resorts, Inc. (United States)		654		142,121
Wingstop, Inc. (United States)		505		121,382
				735,130
Household Durables — 1.9%
Dream Finders Home, Inc., Class A (United States) (a)		1,541		37,508
iRobot Corp. (United States) (a)		464		16,755
Meritage Homes Corp. (United States)		624		88,171
NVR, Inc. (United States) (a)		56		344,702
				487,136
Household Products — 0.2%
Spectrum Brands Holdings, Inc. (United States)		604		41,875
Industrial REITs — 0.4%
STAG Industrial, Inc. (United States)		3,040		108,984
Insurance — 2.0%
Kinsale Capital Group, Inc. (United States)		393		137,589
Lemonade, Inc. (United States) (a)		1,149		20,303
Markel Corp. (United States) (a)		224		322,356
Safety Insurance Group, Inc. (United States)		253		19,463
Trupanion, Inc. (United States) (a)		680		17,490
				517,201
Interactive Media & Services — 2.2%
Bumble, Inc., Class A (United States) (a)		2,336		32,377
Match Group, Inc. (United States) (a)		4,685		151,700
Pinterest, Inc., Class A (United States) (a)		11,322		385,741
				569,818
IT Services — 7.5%
Cloudflare, Inc., Class A (United States) (a)		5,647		435,666
DigitalOcean Holdings, Inc. (United States) (a)		1,506		44,608
EPAM Systems, Inc. (United States) (a)		974		251,477
Fastly, Inc., Class A (United States) (a)		2,148		35,678
GoDaddy, Inc., Class A (United States) (a)		2,476		247,749
MongoDB, Inc. (United States) (a)		1,206		501,383
Okta, Inc. (United States) (a)		2,750		184,388
Twilio, Inc., Class A (United States) (a)		3,052		197,403
				1,898,352
Leisure Products — 0.6%
Hasbro, Inc. (United States)		2,382		110,549
Peloton Interactive, Inc., Class A (United States) (a)		6,006		33,994
				144,543
Life Sciences Tools & Services — 0.6%
Repligen Corp. (United States) (a)		936		147,186
Machinery — 2.9%
Chart Industries, Inc. (United States) (a)		709		92,191
Middleby Corp. (United States) (a)		901		113,733
Proto Labs, Inc. (United States) (a)		429		15,530
Tennant Co. (United States)		316		27,056
Toro Co. (United States)		1,750		145,250
Westinghouse Air Brake Technologies Corp. (United States)		3,031		353,294
				747,054
Media — 0.6%
Boston Omaha Corp. (United States) (a)		536		7,772
New York Times Co., Class A (United States)		2,769		130,116
PubMatic, Inc., Class A (United States) (a)		871		14,554
				152,442
Oil, Gas & Consumable Fuels — 0.1%
Clean Energy Fuels Corp. (United States) (a)		3,693		13,331
Vitesse Energy, Inc. (United States)		455		10,752
				24,083
Passenger Airlines — 0.3%
Alaska Air Group, Inc. (United States) (a)		2,145		81,102
Hawaiian Holdings, Inc. (United States) (a)		804		3,610
				84,712
Pharmaceuticals — 0.7%
Viatris, Inc. (United States)		20,201		185,445
Professional Services — 4.0%
Broadridge Financial Solutions, Inc. (United States)		1,997		387,058
NV5 Global, Inc. (United States) (a)		268		26,071
Paycom Software, Inc. (United States)		974		176,937
Robert Half International, Inc. (United States)		1,775		145,515
SS&C Technologies Holdings, Inc. (United States)		4,178		235,054
TaskUS, Inc., Class A (United States) (a)		1,621		19,484
Upwork, Inc. (United States) (a)		2,187		30,815
				1,020,934
Real Estate Management & Development — 0.7%
Redfin Corp. (United States) (a)		1,876		13,076
Zillow Group, Inc., Class C (United States) (a)		3,891		159,297
				172,373
Retail REITs — 0.1%
Retail Opportunity Investments Corp. (United States)		2,078		26,744
Semiconductors & Semiconductor Equipment — 4.2%
Cirrus Logic, Inc. (United States) (a)		922		69,989
Enphase Energy, Inc. (United States) (a)		2,281		230,427
First Solar, Inc. (United States) (a)		1,795		283,214
Impinj, Inc. (United States) (a)		457		38,201
Silicon Laboratories, Inc. (United States) (a)		542		57,111
Skyworks Solutions, Inc. (United States)		2,713		262,971
Universal Display Corp. (United States)		801		135,529
				1,077,442
Software — 16.3%
Alarm.com Holdings, Inc. (United States) (a)		848		46,199
Alteryx, Inc., Class A (United States) (a)		1,199		48,020
Appfolio, Inc., Class A (United States) (a)		603		114,118
Appian Corp., Class A (United States) (a)		1,239		44,901
Asana, Inc., Class A (United States) (a)		3,679		77,296
Blackbaud, Inc. (United States) (a)		891		67,039
Blackline, Inc. (United States) (a)		1,026		59,354
Box, Inc., Class A (United States) (a)		2,426		63,488
Braze, Inc., Class A (United States) (a)		1,657		91,036
Confluent, Inc., Class A (United States) (a)		5,022		106,567
DocuSign, Inc. (United States) (a)		3,428		147,747
Fair Isaac Corp. (United States) (a)		420		456,792
Five9, Inc. (United States) (a)		1,206		91,921
HubSpot, Inc. (United States) (a)		842		415,889
LivePerson, Inc. (United States) (a)		1,259		3,576
Nutanix, Inc., Class A (United States) (a)		3,971		171,110
Pegasystems, Inc. (United States)		1,408		73,188
Q2 Holdings, Inc. (United States) (a)		991		35,200
Samsara, Inc., Class A (United States) (a)		8,988		247,530
Smartsheet, Inc., Class A (United States) (a)		2,273		96,330
Splunk, Inc. (United States) (a)		2,833		429,313
Tyler Technologies, Inc. (United States) (a)		708		289,459
UiPath, Inc., Class A (United States) (a)		9,512		187,957
Unity Software, Inc. (United States) (a)		6,419		189,425
Varonis Systems, Inc. (United States) (a)		1,863		78,041
Zscaler, Inc. (United States) (a)		2,487		491,256
Zuora, Inc., Class A (United States) (a)		2,330		21,250
				4,144,002
Specialty Retail — 6.9%
Camping World Holdings, Inc., Class A (United States)		754		15,940
CarMax, Inc. (United States) (a)		2,667		170,528
Chewy, Inc., Class A (United States) (a)		7,240		126,121
Designer Brands, Inc., Class A (United States)		985		11,465
Five Below, Inc. (United States) (a)		938		176,775
GameStop Corp. (United States) (a)		5,160		75,078
RH (United States) (a)		313		84,501
Sleep Number Corp. (United States) (a)		354		3,590
Stitch Fix, Inc., Class A (United States) (a)		1,716		6,418
Tractor Supply Co. (United States)		1,839		373,334
Ulta Beauty, Inc. (United States) (a)		832		354,424
Wayfair, Inc., Class A (United States) (a)		1,959		109,312
Williams-Sonoma, Inc. (United States)		1,081		202,731
Winmark Corp. (United States)		62		26,660
				1,736,877
Technology Hardware, Storage & Peripherals — 0.7%
Pure Storage, Inc., Class A (United States) (a)		5,271		175,577
Textiles, Apparel & Luxury Goods — 0.8%
Skechers USA, Inc., Class A (United States) (a)		2,596		152,930
Under Armour, Inc., Class A (United States) (a)		7,236		58,901
				211,831
Trading Companies & Distributors — 1.5%
Watsco, Inc. (United States)		623		238,129
WESCO International, Inc. (United States)		869		135,434
				373,563
TOTAL COMMON STOCKS  (COST $29,720,696)				25,545,398
SHORT-TERM INVESTMENTS — 0.2%
Money Market Deposit Accounts — 0.2%
U.S. Bank Money Market Deposit Account, 5.20% (b)		48,712		48,712
TOTAL MONEY MARKET DEPOSIT ACCOUNTS (COST $48,712)				48,712
TOTAL SHORT-TERM INVESTMENTS (COST $48,712)				48,712
TOTAL INVESTMENTS (COST $29,769,407) — 100.0%				25,594,110
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0%				10,678
TOTAL NET ASSETS — 100.0%			$	25,604,788
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of Morgan Stanley Capital International, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.”

REIT Real Estate Investment Trust

(a)	Non-income producing security.
(b)	The rate shown is as of November 30, 2023.

PORTFOLIO VALUATION - The Fund’s net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Fund are valued using the closing price or the last sales price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded in the over-the-counter ("OTC") market are valued at their closing prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to the market close. Fixed income securities are valued using an independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the market. Foreign securities are valued based on prices from the primary market in which they are traded, and are translated from the local currency into U.S. dollars using current exchange rates. Investments in other open-end investment companies are valued based on the NAV of those investment companies (which may use fair value pricing as discussed in their prospectuses). Options for which the primary market is a national securities exchange are valued at the last sale price on the exchange on which they are traded, or, in the absence of any sale, will be valued at the mean of the last bid and ask prices prior to the market close. Options not traded on a national securities exchange are valued at the last quoted bid price for long option positions and the closing ask price for short option positions. Forward currency exchange contracts are valued by interpolating between spot and forward currency rates as quoted by an independent pricing service. Futures contracts are generally valued using the settlement price determined by the relevant exchange. If market quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the RBB, Fund, Inc.’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments.

FAIR VALUE MEASUREMENTS - The inputs and valuation techniques used to measure the fair value of the Fund’s investments are summarized into three levels as described in the hierarchy below:

Level 1 -	Prices are determined using quoted prices in active markets for identical securities.
Level 2 -	Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 -	Prices are determined using significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodologies 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, as of Returns the end of the date range, in valuing the Fund’s investments carried at fair value: 

MOTLEY FOOL NEXT INDEX ETF
	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
Assets
Equities
Common Stocks	$	25,545,398	$	25,545,398	$	–	$	–
Total Equity Securities	$	25,545,398	$	25,545,398	$	–	$	–
Short-Term Investments
Money Market Deposit Accounts	$	48,712	$	48,712	$	–	$	–
Total Short-Term Investments	$	48,712	$	48,712	$	–	$	–
Total  Assets*	$	25,594,110	$	25,594,110	$	–	$	–

* Please refer to Portfolio of Investments for further details.

At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.

For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Fund to present a reconciliation of the beginning to ending balances for reported market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3 during the period. Transfers in and out between levels are based on values at the end of the period. A reconciliation of Level 3 investments is presented only when the Fund had an amount of Level 3 investments at the end of the reporting period that was meaningful in relation to its net assets. The amounts and reasons for Level 3 transfers are disclosed if the Fund had an amount of total transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.

For the period ended November 30, 2023, the Fund had no Level 3 transfers.       

For more information with regard to significant accounting policies, see the most recent annual report or prospectus filed with the Securities and Exchange Commission.