CONDUCTOR GLOBAL EQUITY VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 59.0%      
    BEVERAGES - 1.4%      
145,307   Coca-Cola Femsa S.A.B. de C.V.       $ 877,655
             
 
    BIOTECHNOLOGY & PHARMACEUTICALS - 0.9%      
118,500   H Lundbeck A/S         585,716
             
 
    CHEMICALS - 2.3%      
16,724   LOTTE Fine Chemical Company Ltd.         845,879
9,400   Nitto Denko Corporation         605,320
             

1,451,199

    CONSUMER SERVICES - 1.2%      
56,058   Perdoceo Education Corporation(a)         767,995
             
 
    E-COMMERCE DISCRETIONARY - 0.9%      
62,300   Vipshop Holdings Ltd. - ADR(a)         570,668
             
 
    ELECTRICAL EQUIPMENT - 1.1%      
41,000   Japan Aviation Electronics Industry Ltd.         700,347
             
 
    ENGINEERING & CONSTRUCTION - 1.5%      
5,806,800   DMCI Holdings, Inc.         997,044
             
 
    FOOD - 2.9%      
1,233,000   Dali Foods Group Company Ltd.         587,071
7,700   Orion Corporation         594,359
897,500   WH Group Ltd.         679,707
             

1,861,137

    FORESTRY, PAPER & WOOD PRODUCTS - 1.5%      
231,569   Navigator Company S.A. (The)         955,109
             
 
    HEALTH CARE FACILITIES & SERVICES - 1.1%      
18,100   Premier, Inc., Class A         696,126
             
 
 
 

 

CONDUCTOR GLOBAL EQUITY VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 59.0% (Continued)      
    HOUSEHOLD PRODUCTS - 1.0%      
134,000   Hengan International Group Company Ltd.       $ 648,586
             
 
    INTERNET MEDIA & SERVICES - 0.9%      
15,900   Autohome, Inc. - ADR         567,471
             
 
    LEISURE FACILITIES & SERVICES - 2.2%      
1,115,100   Genting Singapore Ltd.         651,280
23,500   Sankyo Company Ltd.         739,094
             

1,390,374

    LEISURE PRODUCTS - 1.2%      
69,600   Tomy Company Ltd.         771,315
             
 
    MACHINERY - 0.8%      
2,530,000   Lonking Holdings Ltd.         501,842
             
 
    METALS & MINING - 11.2%      
114,717   Alliance Resource Partners, L.P.         2,513,449
343,000   China Shenhua Energy Company Ltd., Class H         969,430
849,552   Coronado Global Resources, Inc.         845,176
1,700,600   Golden Energy & Resources Ltd.(a)         666,054
619,460   Indo Tambangraya Megah Tbk P.T.         1,655,263
57,700   Koza Altin Isletmeleri A/S         521,626
             

7,170,998

    OIL & GAS PRODUCERS - 2.5%      
523,695   DNO ASA         753,437
445,570   Viva Energy Group Ltd.         837,052
             

1,590,489

    OIL & GAS SERVICES & EQUIPMENT - 1.1%      
46,867   TGS NOPEC Geophysical Company ASA         695,585
             
 
    PUBLISHING & BROADCASTING - 1.8%      
160,665   Atresmedia Corporacion de Medios de Comunicacion S.A.         493,422
9,456,200   Media Nusantara Citra Tbk P.T.         673,618
             

1,167,040

 
 

 

CONDUCTOR GLOBAL EQUITY VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 59.0% (Continued)      
    RETAIL - CONSUMER STAPLES - 1.0%      
4,610   BGF Retail Company Ltd.       $ 640,349
             
 
    RETAIL - DISCRETIONARY - 4.5%      
40,900   Adastria Company Ltd.         614,235
5,904   Dillard's, Inc., Class A         1,342,274
853,000   Matahari Department Store Tbk P.T.         261,321
48,997   Takkt A.G.         667,738
             

2,885,568

    SEMICONDUCTORS - 2.3%      
69,800   Shin-Etsu Polymer Company Ltd.         723,493
35,100   Vishay Intertechnology, Inc.         725,166
             

1,448,659

    STEEL - 2.7%      
12,933   Nucor Corporation         1,756,301
             
 
    TECHNOLOGY HARDWARE - 1.2%      
32,700   Canon, Inc.         773,617
             
 
    TOBACCO & CANNABIS - 3.7%      
293,200   Gudang Garam Tbk P.T.         550,483
8,972,500   Hanjaya Mandala Sampoerna Tbk P.T.         563,012
35,700   Japan Tobacco, Inc.         641,019
9,984   KT&G Corporation         627,437
             

2,381,951

    TRANSPORTATION & LOGISTICS - 5.0%      
42,800   Heartland Express, Inc.         679,664
4,332   Hyundai Glovis Company Ltd.         606,225
33,300   Kamigumi Company Ltd.         677,141
45,837   Westshore Terminals Investment Corporation         1,214,544
             

3,177,574

 
 

 

CONDUCTOR GLOBAL EQUITY VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 59.0% (Continued)      
    WHOLESALE - DISCRETIONARY - 1.1%      
1,328,100   Sime Darby Bhd       $  699,820
             
 
    TOTAL COMMON STOCKS (Cost $31,729,077)    

37,730,535

               
    SHORT-TERM INVESTMENT — 0.1%      
    MONEY MARKET FUND - 0.1%      
41,944   Dreyfus Cash Management, Institutional Class, 1.94% (Cost $41,969)(b)         41,969
             
 
    TOTAL INVESTMENTS - 59.1% (Cost $31,771,046)     $ 37,772,504
    OTHER ASSETS IN EXCESS OF LIABILITIES - 40.9%    

26,189,082

    NET ASSETS - 100.0%        

$ 63,961,586

           

 

ADR

  - American Depositary Receipt  
A/S  - Anonim Sirketi  
LP  - Limited Partnership  
LTD  - Limited Company  
PT  - Perseroan Terbatas  
S/A  - Société Anonyme  
   

 

(a) Non-income producing security.
(b) Rate disclosed is the seven day effective yield as of July 31, 2022.