SoFi Select 500 ETF
Schedule of Investments
May 31, 2025 (Unaudited)
| COMMON STOCKS - 97.9% | Shares | Value | ||||||
| Advertising - 0.1% | ||||||||
| Omnicom Group, Inc. (a) | 1,223 | $ | 89,817 | |||||
| The Trade Desk, Inc. - Class A (b) | 5,636 | 423,940 | ||||||
| 513,757 | ||||||||
| Aerospace & Defense - 1.5% | ||||||||
| General Dynamics Corp. | 2,035 | 566,727 | ||||||
| General Electric Co. | 4,214 | 1,036,265 | ||||||
| Howmet Aerospace, Inc. | 3,251 | 552,312 | ||||||
| L3Harris Technologies, Inc. | 1,520 | 371,397 | ||||||
| Lockheed Martin Corp. | 1,488 | 717,781 | ||||||
| Northrop Grumman Corp. | 1,174 | 569,120 | ||||||
| RTX Corp. | 15,014 | 2,049,111 | ||||||
| The Boeing Co. (b) | 2,758 | 571,789 | ||||||
| TransDigm Group, Inc. | 544 | 798,826 | ||||||
| 7,233,328 | ||||||||
| Agriculture - 0.6% | ||||||||
| Altria Group, Inc. | 10,094 | 611,797 | ||||||
| Archer-Daniels-Midland Co. | 2,262 | 109,187 | ||||||
| Bunge Global SA | 721 | 56,346 | ||||||
| Philip Morris International, Inc. | 11,250 | 2,031,638 | ||||||
| 2,808,968 | ||||||||
| Airlines - 0.1% | ||||||||
| Delta Air Lines, Inc. | 4,304 | 208,270 | ||||||
| Southwest Airlines Co. (a) | 3,534 | 117,965 | ||||||
| United Airlines Holdings, Inc. (b) | 2,157 | 171,363 | ||||||
| 497,598 | ||||||||
| Apparel - 0.1% | ||||||||
| Deckers Outdoor Corp. (b) | 1,320 | 139,286 | ||||||
| Nike, Inc. - Class B | 6,213 | 376,446 | ||||||
| 515,732 | ||||||||
| Auto Manufacturers - 1.4% | ||||||||
| Cummins, Inc. | 2,314 | 743,905 | ||||||
| Ford Motor Co. | 29,601 | 307,258 | ||||||
| General Motors Co. | 6,851 | 339,878 | ||||||
| PACCAR, Inc. | 3,212 | 301,446 | ||||||
| Tesla, Inc. (b) | 14,928 | 5,171,955 | ||||||
| 6,864,442 | ||||||||
| Banks - 3.9% | ||||||||
| Bank of America Corp. | 49,968 | 2,205,088 | ||||||
| Citigroup, Inc. | 13,932 | 1,049,358 | ||||||
| Citizens Financial Group, Inc. | 2,494 | 100,633 | ||||||
| Fifth Third Bancorp | 5,557 | 212,222 | ||||||
| First Citizens BancShares, Inc. - Class A | 65 | 120,177 | ||||||
| Huntington Bancshares, Inc. | 11,659 | 182,230 | ||||||
| JPMorgan Chase & Co. | 25,561 | 6,748,104 | ||||||
| KeyCorp | 10,741 | 170,352 | ||||||
| M&T Bank Corp. | 1,288 | 235,240 | ||||||
| Morgan Stanley | 10,318 | 1,321,014 | ||||||
| Northern Trust Corp. | 2,954 | 315,310 | ||||||
| Regions Financial Corp. (a) | 5,696 | 122,122 | ||||||
| State Street Corp. | 3,182 | 306,363 | ||||||
| The Bank of New York Mellon Corp. | 7,027 | 622,662 | ||||||
| The Goldman Sachs Group, Inc. | 2,831 | 1,699,874 | ||||||
| The PNC Financial Services Group, Inc. | 2,537 | 440,956 | ||||||
| Truist Financial Corp. | 23,811 | 940,535 | ||||||
| U.S. Bancorp | 10,169 | 443,267 | ||||||
| Wells Fargo & Co. | 20,823 | 1,557,144 | ||||||
| 18,792,651 | ||||||||
| Beverages - 0.8% | ||||||||
| Brown-Forman Corp. - Class B (a) | 2,007 | 66,914 | ||||||
| Constellation Brands, Inc. - Class A (a) | 1,118 | 199,328 | ||||||
| Keurig Dr Pepper, Inc. | 7,954 | 267,811 | ||||||
| Monster Beverage Corp. (b) | 4,861 | 310,861 | ||||||
| PepsiCo, Inc. | 8,380 | 1,101,551 | ||||||
| The Coca-Cola Co. | 23,909 | 1,723,839 | ||||||
| 3,670,304 | ||||||||
| Biotechnology - 1.8% | ||||||||
| Alnylam Pharmaceuticals, Inc. (b) | 1,486 | 452,576 | ||||||
| Amgen, Inc. | 5,652 | 1,628,793 | ||||||
| Biogen, Inc. (b) | 774 | 100,457 | ||||||
| BioMarin Pharmaceutical, Inc. (b) | 2,678 | 155,511 | ||||||
| Corteva, Inc. | 4,575 | 323,910 | ||||||
| Gilead Sciences, Inc. | 27,048 | 2,977,444 | ||||||
| Illumina, Inc. (b) | 1,167 | 95,974 | ||||||
| Incyte Corp. (b) | 2,459 | 159,983 | ||||||
| Moderna, Inc. (a)(b) | 1,317 | 34,980 | ||||||
| Regeneron Pharmaceuticals, Inc. | 808 | 396,146 | ||||||
| Royalty Pharma PLC - Class A | 2,354 | 77,400 | ||||||
| Vertex Pharmaceuticals, Inc. (b) | 4,458 | 1,970,659 | ||||||
| 8,373,833 | ||||||||
| Building Materials - 0.5% | ||||||||
| Builders FirstSource, Inc. (b) | 526 | 56,640 | ||||||
| Carrier Global Corp. | 4,607 | 328,018 | ||||||
| CRH PLC | 3,986 | 363,364 | ||||||
| Johnson Controls International PLC | 3,165 | 320,836 | ||||||
| Lennox International, Inc. | 251 | 141,677 | ||||||
| Martin Marietta Materials, Inc. (a) | 444 | 243,112 | ||||||
| Masco Corp. | 1,252 | 78,150 | ||||||
| Owens Corning | 525 | 70,324 | ||||||
| Trane Technologies PLC | 1,754 | 754,693 | ||||||
| Vulcan Materials Co. | 775 | 205,429 | ||||||
| 2,562,243 | ||||||||
| Chemicals - 0.8% | ||||||||
| Air Products and Chemicals, Inc. | 1,224 | 341,386 | ||||||
| CF Industries Holdings, Inc. | 720 | 65,311 | ||||||
| Dow, Inc. (a) | 4,130 | 114,566 | ||||||
| DuPont de Nemours, Inc. | 4,253 | 284,101 | ||||||
| Ecolab, Inc. | 1,894 | 503,084 | ||||||
| International Flavors & Fragrances, Inc. | 2,941 | 225,163 | ||||||
| Linde PLC | 2,934 | 1,371,880 | ||||||
| LyondellBasell Industries NV - Class A | 1,506 | 85,074 | ||||||
| PPG Industries, Inc. | 1,462 | 161,990 | ||||||
| RPM International, Inc. | 779 | 88,681 | ||||||
| The Sherwin-Williams Co. | 1,319 | 473,270 | ||||||
| 3,714,506 | ||||||||
| Commercial Services - 1.6% | ||||||||
| Automatic Data Processing, Inc. | 2,559 | 833,031 | ||||||
| Block, Inc. - Class A (b) | 13,924 | 859,807 | ||||||
| Booz Allen Hamilton Holding Corp. | 1,206 | 128,137 | ||||||
| Cintas Corp. | 2,335 | 528,877 | ||||||
| Corpay, Inc. (b) | 446 | 144,999 | ||||||
| Equifax, Inc. | 873 | 230,638 | ||||||
| Global Payments, Inc. | 2,271 | 171,710 | ||||||
| Moody’s Corp. (a) | 1,634 | 783,209 | ||||||
| PayPal Holdings, Inc. (b) | 7,138 | 501,659 | ||||||
| Quanta Services, Inc. | 1,324 | 453,549 | ||||||
| Rollins, Inc. | 2,446 | 140,034 | ||||||
| S&P Global, Inc. | 2,924 | 1,499,603 |
| Toast, Inc. - Class A (b) | 14,133 | 596,130 | ||||||
| TransUnion | 3,211 | 274,958 | ||||||
| United Rentals, Inc. | 554 | 392,443 | ||||||
| Verisk Analytics, Inc. | 841 | 264,192 | ||||||
| 7,802,976 | ||||||||
| Computers - 6.2% | ||||||||
| Accenture PLC - Class A | 3,886 | 1,231,163 | ||||||
| Amentum Holdings, Inc. (b) | 55 | 1,132 | ||||||
| Apple, Inc. | 96,949 | 19,472,207 | ||||||
| Cognizant Technology Solutions Corp. - Class A | 2,802 | 226,934 | ||||||
| Crowdstrike Holdings, Inc. - Class A (b) | 6,047 | 2,850,374 | ||||||
| Dell Technologies, Inc. - Class C | 2,072 | 230,551 | ||||||
| Fortinet, Inc. (b) | 5,511 | 560,910 | ||||||
| Gartner, Inc. (b) | 496 | 216,464 | ||||||
| Hewlett Packard Enterprise Co. | 8,444 | 145,912 | ||||||
| HP, Inc. | 5,261 | 130,999 | ||||||
| International Business Machines Corp. | 5,380 | 1,393,743 | ||||||
| Leidos Holdings, Inc. | 2,383 | 353,923 | ||||||
| NetApp, Inc. | 1,172 | 116,216 | ||||||
| Okta, Inc. - Class A (a)(b) | 4,128 | 425,886 | ||||||
| Pure Storage, Inc. - Class A (a)(b) | 4,488 | 240,512 | ||||||
| Seagate Technology Holdings PLC | 3,117 | 367,619 | ||||||
| Super Micro Computer, Inc. (a)(b) | 10,284 | 411,566 | ||||||
| Western Digital Corp. | 5,990 | 308,784 | ||||||
| Zscaler, Inc. (b) | 2,704 | 745,493 | ||||||
| 29,430,388 | ||||||||
| Cosmetics & Personal Care - 0.7% | ||||||||
| Colgate-Palmolive Co. | 5,328 | 495,184 | ||||||
| Kenvue, Inc. | 12,257 | 292,575 | ||||||
| The Estee Lauder Co., Inc. - Class A | 1,597 | 106,903 | ||||||
| The Procter & Gamble Co. | 14,208 | 2,413,797 | ||||||
| 3,308,459 | ||||||||
| Distribution & Wholesale - 0.2% | ||||||||
| Copart, Inc. (b) | 5,537 | 285,045 | ||||||
| Fastenal Co. (a) | 6,592 | 272,513 | ||||||
| W.W. Grainger, Inc. | 266 | 289,291 | ||||||
| Watsco, Inc. | 221 | 98,029 | ||||||
| 944,878 | ||||||||
| Diversified Financial Services - 3.9% | ||||||||
| American Express Co. | 4,582 | 1,347,337 | ||||||
| Ameriprise Financial, Inc. | 777 | 395,679 | ||||||
| Apollo Global Management, Inc. | 1,745 | 228,054 | ||||||
| Ares Management Corp. - Class A (a) | 1,556 | 257,518 | ||||||
| Blackrock, Inc. | 1,353 | 1,325,791 | ||||||
| Capital One Financial Corp. | 4,846 | 916,621 | ||||||
| Cboe Global Markets, Inc. | 637 | 145,949 | ||||||
| CME Group, Inc. - Class A | 2,841 | 821,049 | ||||||
| Coinbase Global, Inc. - Class A (b) | 5,777 | 1,424,724 | ||||||
| Interactive Brokers Group, Inc. - Class A | 1,061 | 222,471 | ||||||
| Intercontinental Exchange, Inc. | 4,970 | 893,606 | ||||||
| LPL Financial Holdings, Inc. (a) | 612 | 236,942 | ||||||
| Mastercard, Inc. - Class A | 6,280 | 3,677,568 | ||||||
| Nasdaq, Inc. | 4,964 | 414,693 | ||||||
| Raymond James Financial, Inc. | 1,307 | 192,103 | ||||||
| Synchrony Financial | 4,304 | 248,126 | ||||||
| T. Rowe Price Group, Inc. (a) | 1,346 | 125,972 | ||||||
| The Charles Schwab Corp. | 10,993 | 971,122 | ||||||
| Tradeweb Markets, Inc. - Class A | 1,496 | 216,097 | ||||||
| Visa, Inc. - Class A | 12,991 | 4,744,183 | ||||||
| 18,805,605 | ||||||||
| Electric - 1.7% | ||||||||
| Alliant Energy Corp. | 1,413 | 87,931 |
| Ameren Corp. | 1,305 | 126,428 | ||||||
| American Electric Power Co., Inc. | 3,768 | 389,950 | ||||||
| CenterPoint Energy, Inc. | 3,226 | 120,136 | ||||||
| CMS Energy Corp. | 1,501 | 105,415 | ||||||
| Consolidated Edison, Inc. | 1,845 | 192,784 | ||||||
| Constellation Energy Corp. | 2,608 | 798,439 | ||||||
| Dominion Energy, Inc. | 5,537 | 313,782 | ||||||
| DTE Energy Co. | 844 | 115,333 | ||||||
| Duke Energy Corp. | 4,927 | 580,007 | ||||||
| Edison International | 2,439 | 135,730 | ||||||
| Entergy Corp. | 2,013 | 167,643 | ||||||
| Evergy, Inc. | 1,238 | 82,216 | ||||||
| Eversource Energy | 5,259 | 340,836 | ||||||
| Exelon Corp. | 8,044 | 352,488 | ||||||
| FirstEnergy Corp. | 4,994 | 209,448 | ||||||
| NextEra Energy, Inc. | 14,248 | 1,006,479 | ||||||
| NRG Energy, Inc. | 3,366 | 524,759 | ||||||
| PG&E Corp. | 15,741 | 265,708 | ||||||
| PPL Corp. | 4,348 | 151,093 | ||||||
| Public Service Enterprise Group, Inc. | 2,590 | 209,868 | ||||||
| Sempra (a) | 2,655 | 208,657 | ||||||
| The Southern Co. | 7,468 | 672,120 | ||||||
| Vistra Corp. | 3,813 | 612,253 | ||||||
| WEC Energy Group, Inc. | 1,654 | 177,706 | ||||||
| Xcel Energy, Inc. | 2,700 | 189,270 | ||||||
| 8,136,479 | ||||||||
| Electrical Components & Equipment - 0.3% | ||||||||
| AMETEK, Inc. | 1,388 | 248,091 | ||||||
| Eaton Corp. PLC | 2,783 | 891,117 | ||||||
| Emerson Electric Co. | 4,414 | 526,943 | ||||||
| 1,666,151 | ||||||||
| Electronics - 0.8% | ||||||||
| Amphenol Corp. - Class A | 15,802 | 1,421,074 | ||||||
| Fortive Corp. | 2,656 | 186,425 | ||||||
| Garmin Ltd. | 1,643 | 333,480 | ||||||
| Honeywell International, Inc. | 4,348 | 985,561 | ||||||
| Hubbell, Inc. (a) | 435 | 169,467 | ||||||
| Keysight Technologies, Inc. (b) | 955 | 149,973 | ||||||
| Mettler-Toledo International, Inc. (b) | 130 | 150,218 | ||||||
| TE Connectivity PLC | 1,665 | 266,516 | ||||||
| 3,662,714 | ||||||||
| Energy - Alternate Sources - 0.1% | ||||||||
| First Solar, Inc. (b) | 1,522 | 240,598 | ||||||
| Engineering & Construction - 0.1% | ||||||||
| EMCOR Group, Inc. | 433 | 204,316 | ||||||
| Jacobs Solutions, Inc. | 901 | 113,796 | ||||||
| 318,112 | ||||||||
| Entertainment - 0.4% | ||||||||
| DraftKings, Inc. - Class A (b) | 8,014 | 287,542 | ||||||
| Flutter Entertainment PLC (b) | 4,868 | 1,230,144 | ||||||
| Live Nation Entertainment, Inc. (a)(b) | 1,654 | 226,912 | ||||||
| 1,744,598 | ||||||||
| Environmental Control - 0.3% | ||||||||
| Pentair PLC | 950 | 94,221 | ||||||
| Republic Services, Inc. | 1,398 | 359,692 | ||||||
| Veralto Corp. | 1,502 | 151,747 | ||||||
| Waste Management, Inc. | 3,288 | 792,309 | ||||||
| 1,397,969 | ||||||||
| Food - 0.5% | ||||||||
| Conagra Brands, Inc. | 2,973 | 68,052 |
| General Mills, Inc. | 2,970 | 161,152 | ||||||
| Kellanova | 1,416 | 117,004 | ||||||
| McCormick & Co., Inc. | 1,564 | 113,750 | ||||||
| Mondelez International, Inc. - Class A | 7,175 | 484,241 | ||||||
| Sprouts Farmers Market, Inc. (b) | 924 | 159,723 | ||||||
| Sysco Corp. | 2,938 | 214,474 | ||||||
| The Hershey Co. (a) | 958 | 153,941 | ||||||
| The J.M. Smucker Co. | 836 | 94,142 | ||||||
| The Kraft Heinz Co. | 4,735 | 126,566 | ||||||
| The Kroger Co. | 3,514 | 239,760 | ||||||
| Tyson Foods, Inc. - Class A | 4,344 | 243,959 | ||||||
| 2,176,764 | ||||||||
| Forest Products & Paper - 0.0%(c) | ||||||||
| International Paper Co. (a) | 4,758 | 227,480 | ||||||
| Gas - 0.0%(c) | ||||||||
| Atmos Energy Corp. (a) | 732 | 113,226 | ||||||
| NiSource, Inc. | 2,175 | 85,999 | ||||||
| 199,225 | ||||||||
| Hand & Machine Tools - 0.0%(c) | ||||||||
| Snap-on, Inc. | 362 | 116,112 | ||||||
| Stanley Black & Decker, Inc. (a) | 1,036 | 67,785 | ||||||
| 183,897 | ||||||||
| Healthcare - Products - 2.6% | ||||||||
| Abbott Laboratories | 16,086 | 2,148,768 | ||||||
| Agilent Technologies, Inc. | 1,462 | 163,627 | ||||||
| Align Technology, Inc. (b) | 588 | 106,393 | ||||||
| Baxter International, Inc. (a) | 2,247 | 68,533 | ||||||
| Boston Scientific Corp. (b) | 18,423 | 1,939,205 | ||||||
| Danaher Corp. | 3,890 | 738,711 | ||||||
| Edwards Lifesciences Corp. (b) | 3,801 | 297,314 | ||||||
| GE HealthCare Technologies, Inc. | 2,582 | 182,134 | ||||||
| Hologic, Inc. (b) | 1,239 | 77,029 | ||||||
| IDEXX Laboratories, Inc. (b) | 625 | 320,850 | ||||||
| Insulet Corp. (b) | 890 | 289,277 | ||||||
| Intuitive Surgical, Inc. (b) | 3,874 | 2,139,765 | ||||||
| Medtronic PLC | 9,178 | 761,590 | ||||||
| Natera, Inc. (b) | 1,987 | 313,409 | ||||||
| ResMed, Inc. (a) | 1,035 | 253,358 | ||||||
| Revvity, Inc. (a) | 730 | 66,007 | ||||||
| STERIS PLC | 624 | 153,011 | ||||||
| Stryker Corp. | 2,648 | 1,013,231 | ||||||
| The Cooper Cos, Inc. (b) | 1,663 | 113,550 | ||||||
| Thermo Fisher Scientific, Inc. | 2,258 | 909,568 | ||||||
| Waters Corp. (b) | 339 | 118,392 | ||||||
| West Pharmaceutical Services, Inc. | 367 | 77,382 | ||||||
| Zimmer Biomet Holdings, Inc. | 1,736 | 160,007 | ||||||
| 12,411,111 | ||||||||
| Healthcare - Services – 1.1% | ||||||||
| Centene Corp. (b) | 3,369 | 190,147 | ||||||
| Elevance Health, Inc. | 1,483 | 569,235 | ||||||
| HCA Healthcare, Inc. | 1,238 | 472,161 | ||||||
| Humana, Inc. | 840 | 195,829 | ||||||
| IQVIA Holdings, Inc. (b) | 1,213 | 170,220 | ||||||
| Labcorp Holdings, Inc. (a) | 798 | 198,678 | ||||||
| Molina Healthcare, Inc. (b) | 533 | 162,586 | ||||||
| Quest Diagnostics, Inc. | 561 | 97,244 | ||||||
| The Cigna Group | 3,032 | 960,052 | ||||||
| UnitedHealth Group, Inc. | 7,155 | 2,160,166 | ||||||
| 5,176,318 |
| Home Builders - 0.1% | ||||||||
| D.R. Horton, Inc. | 1,920 | 226,675 | ||||||
| Lennar Corp. - Class A | 1,482 | 157,211 | ||||||
| NVR, Inc. (b) | 17 | 120,971 | ||||||
| PulteGroup, Inc. | 1,207 | 118,322 | ||||||
| 623,179 | ||||||||
| Household Products & Wares - 0.2% | ||||||||
| Avery Dennison Corp. | 436 | 77,490 | ||||||
| Church & Dwight Co., Inc. | 1,885 | 185,314 | ||||||
| Kimberly-Clark Corp. | 1,993 | 286,514 | ||||||
| The Clorox Co. | 2,334 | 307,808 | ||||||
| 857,126 | ||||||||
| Insurance - 3.2% | ||||||||
| Aflac, Inc. | 3,053 | 316,108 | ||||||
| American International Group, Inc. | 2,799 | 236,907 | ||||||
| Aon PLC - Class A | 1,979 | 736,346 | ||||||
| Arch Capital Group Ltd. | 3,742 | 355,640 | ||||||
| Arthur J Gallagher & Co. | 2,765 | 960,672 | ||||||
| Berkshire Hathaway, Inc. - Class B (b) | 7,988 | 4,025,632 | ||||||
| Brown & Brown, Inc. | 1,834 | 207,059 | ||||||
| Chubb Ltd. | 2,848 | 846,426 | ||||||
| Cincinnati Financial Corp. | 1,061 | 160,020 | ||||||
| Everest Group Ltd. | 447 | 155,194 | ||||||
| Fidelity National Financial, Inc. | 3,361 | 184,082 | ||||||
| Hartford Insurance Group, Inc. | 2,157 | 280,065 | ||||||
| Markel Group, Inc. (b) | 78 | 151,452 | ||||||
| Marsh & McLennan Co., Inc. | 3,620 | 845,849 | ||||||
| MetLife, Inc. | 6,728 | 528,686 | ||||||
| Principal Financial Group, Inc. (a) | 1,205 | 93,857 | ||||||
| Prudential Financial, Inc. | 4,755 | 493,997 | ||||||
| The Allstate Corp. | 5,318 | 1,116,089 | ||||||
| The Progressive Corp. | 8,062 | 2,297,106 | ||||||
| The Travelers Co., Inc. | 2,266 | 624,736 | ||||||
| W.R. Berkley Corp. | 2,342 | 174,924 | ||||||
| Willis Towers Watson PLC | 1,847 | 584,668 | ||||||
| 15,375,515 | ||||||||
| Internet - 14.9% | ||||||||
| Airbnb, Inc. - Class A (b) | 2,844 | 366,876 | ||||||
| Alphabet, Inc. - Class A | 61,769 | 10,608,208 | ||||||
| Alphabet, Inc. - Class C | 54,363 | 9,396,645 | ||||||
| Amazon.com, Inc. (b) | 97,888 | 20,068,019 | ||||||
| Booking Holdings, Inc. | 265 | 1,462,516 | ||||||
| CDW Corp. | 793 | 143,025 | ||||||
| DoorDash, Inc. - Class A (b) | 8,458 | 1,764,762 | ||||||
| eBay, Inc. | 2,568 | 187,901 | ||||||
| Expedia Group, Inc. - Class A | 967 | 161,247 | ||||||
| Gen Digital, Inc. | 3,834 | 109,192 | ||||||
| GoDaddy, Inc. - Class A (b) | 874 | 159,199 | ||||||
| Meta Platforms, Inc. - Class A | 23,856 | 15,446,521 | ||||||
| Netflix, Inc. (b) | 4,551 | 5,494,104 | ||||||
| Palo Alto Networks, Inc. (b) | 4,997 | 961,523 | ||||||
| Pinterest, Inc. - Class A (b) | 12,602 | 392,048 | ||||||
| Robinhood Markets, Inc. - Class A (b) | 18,208 | 1,204,459 | ||||||
| Snap, Inc. - Class A (a)(b) | 6,202 | 51,167 | ||||||
| Uber Technologies, Inc. (b) | 38,120 | 3,208,179 | ||||||
| VeriSign, Inc. | 564 | 153,673 | ||||||
| 71,339,264 | ||||||||
| Iron & Steel - 0.1% | ||||||||
| Nucor Corp. | 951 | 104,001 | ||||||
| Reliance, Inc. | 283 | 82,868 | ||||||
| Steel Dynamics, Inc. | 692 | 85,165 | ||||||
| 272,034 |
| Leisure Time - 0.2% | ||||||||
| Carnival Corp. (b) | 19,126 | 444,106 | ||||||
| Royal Caribbean Cruises Ltd. | 2,824 | 725,683 | ||||||
| 1,169,789 | ||||||||
| Lodging - 0.2% | ||||||||
| Hilton Worldwide Holdings, Inc. | 1,809 | 449,428 | ||||||
| Las Vegas Sands Corp. | 2,370 | 97,549 | ||||||
| Marriott International, Inc. - Class A | 1,501 | 396,009 | ||||||
| 942,986 | ||||||||
| Machinery - Construction & Mining - 0.8% | ||||||||
| Caterpillar, Inc. | 2,472 | 860,330 | ||||||
| GE Vernova, Inc. | 5,076 | 2,400,846 | ||||||
| Vertiv Holdings Co. - Class A | 4,704 | 507,703 | ||||||
| 3,768,879 | ||||||||
| Machinery - Diversified - 0.4% | ||||||||
| Deere & Co. | 910 | 460,697 | ||||||
| Dover Corp. | 780 | 138,645 | ||||||
| IDEX Corp. | 435 | 78,696 | ||||||
| Ingersoll Rand, Inc. | 3,228 | 263,534 | ||||||
| Otis Worldwide Corp. | 2,472 | 235,705 | ||||||
| Rockwell Automation, Inc. | 629 | 198,481 | ||||||
| Westinghouse Air Brake Technologies Corp. | 1,451 | 293,566 | ||||||
| Xylem, Inc. | 2,394 | 301,740 | ||||||
| 1,971,064 | ||||||||
| Media - 0.6% | ||||||||
| Charter Communications, Inc. - Class A (a)(b) | 441 | 174,755 | ||||||
| Comcast Corp. - Class A | 21,969 | 759,468 | ||||||
| FactSet Research Systems, Inc. (a) | 253 | 115,940 | ||||||
| The Walt Disney Co. | 14,511 | 1,640,324 | ||||||
| Warner Bros Discovery, Inc. (b) | 10,265 | 102,342 | ||||||
| 2,792,829 | ||||||||
| Mining - 0.4% | ||||||||
| Freeport-McMoRan, Inc. | 11,872 | 456,834 | ||||||
| Newmont Corp. | 24,261 | 1,279,040 | ||||||
| 1,735,874 | ||||||||
| Miscellaneous Manufacturers - 0.5% | ||||||||
| 3M Co. | 2,937 | 435,704 | ||||||
| Axon Enterprise, Inc. (b) | 1,067 | 800,634 | ||||||
| Carlisle Cos., Inc. (a) | 219 | 83,259 | ||||||
| Illinois Tool Works, Inc. | 1,589 | 389,432 | ||||||
| Parker-Hannifin Corp. | 863 | 573,636 | ||||||
| Teledyne Technologies, Inc. (b) | 295 | 147,164 | ||||||
| Textron, Inc. | 1,419 | 105,049 | ||||||
| 2,534,878 | ||||||||
| Office & Business Equipment - 0.0%(c) | ||||||||
| Zebra Technologies Corp. - Class A (b) | 242 | 70,124 | ||||||
| Oil & Gas - 1.5% | ||||||||
| Chevron Corp. | 8,948 | 1,223,192 | ||||||
| ConocoPhillips | 7,106 | 606,497 | ||||||
| Coterra Energy, Inc. | 2,937 | 71,398 | ||||||
| Devon Energy Corp. | 2,752 | 83,276 | ||||||
| Diamondback Energy, Inc. | 2,518 | 338,797 | ||||||
| EOG Resources, Inc. | 2,669 | 289,773 | ||||||
| EQT Corp. | 10,364 | 571,367 | ||||||
| Expand Energy Corp. | 693 | 80,478 | ||||||
| Exxon Mobil Corp. | 26,316 | 2,692,127 | ||||||
| Hess Corp. | 3,566 | 471,390 | ||||||
| Marathon Petroleum Corp. | 1,555 | 249,951 | ||||||
| Occidental Petroleum Corp. | 3,103 | 126,540 |
| Phillips 66 | 2,286 | 259,415 | ||||||
| Texas Pacific Land Corp. (a) | 154 | 171,561 | ||||||
| Valero Energy Corp. | 1,296 | 167,145 | ||||||
| 7,402,907 | ||||||||
| Oil & Gas Services - 0.2% | ||||||||
| Baker Hughes Co. | 9,168 | 339,675 | ||||||
| Halliburton Co. | 5,168 | 101,241 | ||||||
| Schlumberger NV | 11,625 | 384,206 | ||||||
| 825,122 | ||||||||
| Packaging & Containers - 0.1% | ||||||||
| Ball Corp. | 1,574 | 84,335 | ||||||
| Packaging Corp. of America | 456 | 88,085 | ||||||
| Smurfit WestRock PLC | 9,581 | 415,145 | ||||||
| 587,565 | ||||||||
| Pharmaceuticals - 5.9% | ||||||||
| AbbVie, Inc. | 19,402 | 3,610,906 | ||||||
| Becton Dickinson & Co. | 3,142 | 542,278 | ||||||
| Bristol-Myers Squibb Co. | 11,817 | 570,525 | ||||||
| Cardinal Health, Inc. | 2,010 | 310,425 | ||||||
| Cencora, Inc. | 1,374 | 400,164 | ||||||
| CVS Health Corp. | 7,207 | 461,536 | ||||||
| Dexcom, Inc. (b) | 2,799 | 240,154 | ||||||
| Eli Lilly & Co. | 15,884 | 11,717,150 | ||||||
| Johnson & Johnson | 17,422 | 2,704,069 | ||||||
| McKesson Corp. | 1,069 | 769,156 | ||||||
| Merck & Co., Inc. | 52,294 | 4,018,271 | ||||||
| Pfizer, Inc. | 91,781 | 2,155,936 | ||||||
| Viatris, Inc. | 7,070 | 62,145 | ||||||
| Zoetis, Inc. | 3,332 | 561,875 | ||||||
| 28,124,590 | ||||||||
| Pipelines - 0.4% | ||||||||
| Cheniere Energy, Inc. | 752 | 178,216 | ||||||
| Kinder Morgan, Inc. | 9,768 | 273,895 | ||||||
| ONEOK, Inc. | 7,594 | 613,899 | ||||||
| Targa Resources Corp. | 2,041 | 322,335 | ||||||
| The Williams Co., Inc. | 8,016 | 485,048 | ||||||
| 1,873,393 | ||||||||
| Private Equity - 0.6% | ||||||||
| Blackstone, Inc. | 10,356 | 1,436,998 | ||||||
| KKR & Co., Inc. | 9,802 | 1,190,551 | ||||||
| 2,627,549 | ||||||||
| Real Estate - 0.1% | ||||||||
| CBRE Group, Inc. - Class A (b) | 2,381 | 297,673 | ||||||
| CoStar Group, Inc. (b) | 2,713 | 199,568 | ||||||
| 497,241 | ||||||||
| Retail - 3.4% | ||||||||
| AutoZone, Inc. (b) | 104 | 388,236 | ||||||
| Best Buy Co., Inc. | 1,160 | 76,885 | ||||||
| Burlington Stores, Inc. (a)(b) | 562 | 128,288 | ||||||
| CarMax, Inc. (b) | 799 | 51,503 | ||||||
| Carvana Co. - Class A (b) | 1,558 | 509,715 | ||||||
| Casey’s General Stores, Inc. | 252 | 110,315 | ||||||
| Chipotle Mexican Grill, Inc. (b) | 12,982 | 650,139 | ||||||
| Costco Wholesale Corp. | 2,973 | 3,092,455 | ||||||
| Darden Restaurants, Inc. | 825 | 176,723 | ||||||
| Dollar General Corp. | 1,317 | 128,078 | ||||||
| Dollar Tree, Inc. (b) | 1,303 | 117,609 | ||||||
| Domino’s Pizza, Inc. | 172 | 81,497 | ||||||
| Ferguson Enterprises, Inc. | 1,047 | 190,910 | ||||||
| Genuine Parts Co. | 798 | 100,963 |
| Lowe’s Co., Inc. | 2,778 | 627,078 | ||||||
| McDonald’s Corp. | 4,288 | 1,345,789 | ||||||
| O’Reilly Automotive, Inc. (b) | 372 | 508,710 | ||||||
| Ross Stores, Inc. | 2,440 | 341,820 | ||||||
| Starbucks Corp. | 6,720 | 564,144 | ||||||
| Target Corp. | 2,657 | 249,785 | ||||||
| The Home Depot, Inc. | 6,266 | 2,307,705 | ||||||
| The TJX Co., Inc. | 7,646 | 970,277 | ||||||
| Tractor Supply Co. (a) | 2,987 | 144,571 | ||||||
| Ulta Beauty, Inc. (b) | 258 | 121,637 | ||||||
| Walmart, Inc. | 29,553 | 2,917,472 | ||||||
| Williams-Sonoma, Inc. | 638 | 103,203 | ||||||
| Yum! Brands, Inc. | 1,685 | 242,539 | ||||||
| 16,248,046 | ||||||||
| Semiconductors - 18.1% | ||||||||
| Advanced Micro Devices, Inc. (b) | 23,757 | 2,630,613 | ||||||
| Analog Devices, Inc. | 2,168 | 463,909 | ||||||
| Applied Materials, Inc. | 4,730 | 741,427 | ||||||
| Broadcom, Inc. | 73,232 | 17,727,270 | ||||||
| Entegris, Inc. | 1,426 | 98,023 | ||||||
| Intel Corp. | 19,897 | 388,986 | ||||||
| KLA Corp. | 1,157 | 875,710 | ||||||
| Lam Research Corp. | 12,866 | 1,039,444 | ||||||
| Marvell Technology, Inc. | 8,720 | 524,857 | ||||||
| Microchip Technology, Inc. | 1,990 | 115,500 | ||||||
| Micron Technology, Inc. | 24,180 | 2,284,043 | ||||||
| Monolithic Power Systems, Inc. | 801 | 530,182 | ||||||
| NVIDIA Corp. | 420,098 | 56,767,843 | ||||||
| ON Semiconductor Corp. (b) | 2,073 | 87,107 | ||||||
| QUALCOMM, Inc. | 10,359 | 1,504,127 | ||||||
| Skyworks Solutions, Inc. (a) | 884 | 61,022 | ||||||
| Teradyne, Inc. | 1,041 | 81,823 | ||||||
| Texas Instruments, Inc. | 4,331 | 791,923 | ||||||
| 86,713,809 | ||||||||
| Software - 12.1% | ||||||||
| Adobe, Inc. (b) | 3,491 | 1,449,079 | ||||||
| Akamai Technologies, Inc. (b) | 1,119 | 84,966 | ||||||
| ANSYS, Inc. (b) | 689 | 227,935 | ||||||
| AppLovin Corp. - Class A (b) | 5,964 | 2,343,852 | ||||||
| Atlassian Corp. - Class A (b) | 2,773 | 575,758 | ||||||
| Autodesk, Inc. (b) | 1,835 | 543,380 | ||||||
| Broadridge Financial Solutions, Inc. | 874 | 212,233 | ||||||
| Cadence Design Systems, Inc. (b) | 2,627 | 754,133 | ||||||
| Cloudflare, Inc. - Class A (b) | 5,639 | 935,454 | ||||||
| Datadog, Inc. - Class A (b) | 6,295 | 742,055 | ||||||
| Docusign, Inc. (b) | 3,711 | 328,832 | ||||||
| Electronic Arts, Inc. | 1,514 | 217,683 | ||||||
| Fair Isaac Corp. (b) | 188 | 324,541 | ||||||
| Fidelity National Information Services, Inc. | 5,010 | 398,846 | ||||||
| Fiserv, Inc. (b) | 4,185 | 681,276 | ||||||
| Guidewire Software, Inc. (b) | 1,968 | 423,159 | ||||||
| HubSpot, Inc. (b) | 1,410 | 831,759 | ||||||
| Intuit, Inc. | 2,466 | 1,858,057 | ||||||
| Jack Henry & Associates, Inc. (a) | 521 | 94,390 | ||||||
| Manhattan Associates, Inc. (b) | 637 | 120,253 | ||||||
| Microsoft Corp. | 59,059 | 27,188,401 | ||||||
| MicroStrategy, Inc. - Class A (b) | 962 | 355,036 | ||||||
| MongoDB, Inc. (b) | 931 | 175,801 | ||||||
| MSCI, Inc. | 618 | 348,564 | ||||||
| Nutanix, Inc. - Class A (b) | 4,903 | 376,011 | ||||||
| Oracle Corp. | 11,409 | 1,888,532 | ||||||
| Palantir Technologies, Inc. - Class A (b) | 38,966 | 5,134,939 | ||||||
| Paychex, Inc. | 2,023 | 319,452 | ||||||
| PTC, Inc. (b) | 1,015 | 170,845 | ||||||
| ROBLOX Corp. - Class A (b) | 6,318 | 549,540 |
| Roper Technologies, Inc. | 905 | 516,094 | ||||||
| Salesforce, Inc. | 8,315 | 2,206,552 | ||||||
| ServiceNow, Inc. (b) | 2,546 | 2,574,235 | ||||||
| Snowflake, Inc. - Class A (b) | 3,506 | 721,079 | ||||||
| SS&C Technologies Holdings, Inc. | 1,740 | 140,609 | ||||||
| Synopsys, Inc. (b) | 879 | 407,838 | ||||||
| Take-Two Interactive Software, Inc. (b) | 825 | 186,681 | ||||||
| Twilio, Inc. - Class A (b) | 2,465 | 290,130 | ||||||
| Tyler Technologies, Inc. (b) | 351 | 202,523 | ||||||
| Veeva Systems, Inc. - Class A (b) | 1,301 | 363,890 | ||||||
| Workday, Inc. - Class A (b) | 2,296 | 568,742 | ||||||
| Zoom Communications, Inc. - Class A (b) | 2,040 | 165,750 | ||||||
| 57,998,885 | ||||||||
| Telecommunications - 1.3% | ||||||||
| Arista Networks, Inc. (b) | 8,844 | 766,244 | ||||||
| AT&T, Inc. | 39,878 | 1,108,609 | ||||||
| Cisco Systems, Inc. | 20,775 | 1,309,656 | ||||||
| Corning, Inc. (a) | 7,009 | 347,576 | ||||||
| Motorola Solutions, Inc. | 1,227 | 509,671 | ||||||
| T-Mobile US, Inc. | 3,172 | 768,259 | ||||||
| Verizon Communications, Inc. | 27,826 | 1,223,231 | ||||||
| 6,033,246 | ||||||||
| Transportation - 0.5% | ||||||||
| CSX Corp. | 9,911 | 313,089 | ||||||
| Expeditors International of Washington, Inc. (a) | 588 | 66,285 | ||||||
| FedEx Corp. | 1,233 | 268,917 | ||||||
| J.B. Hunt Transport Services, Inc. | 438 | 60,816 | ||||||
| Norfolk Southern Corp. | 1,310 | 323,727 | ||||||
| Old Dominion Freight Line, Inc. (a) | 952 | 152,482 | ||||||
| Union Pacific Corp. | 3,351 | 742,783 | ||||||
| United Parcel Service, Inc. - Class B | 4,332 | 422,543 | ||||||
| 2,350,642 | ||||||||
| Water - 0.0%(c) | ||||||||
| American Water Works Co., Inc. | 1,297 | 185,432 | ||||||
| TOTAL COMMON STOCKS (Cost $400,362,131) | 468,303,052 | |||||||
| REAL ESTATE INVESTMENT TRUSTS - COMMON - 1.7% | ||||||||
| Alexandria Real Estate Equities, Inc. | 1,909 | 133,993 | ||||||
| American Tower Corp. | 2,843 | 610,250 | ||||||
| AvalonBay Communities, Inc. | 841 | 173,894 | ||||||
| Crown Castle, Inc. | 2,080 | 208,728 | ||||||
| Digital Realty Trust, Inc. | 1,792 | 307,364 | ||||||
| Equinix, Inc. | 688 | 611,508 | ||||||
| Equity Residential | 2,236 | 156,833 | ||||||
| Essex Property Trust, Inc. | 393 | 111,573 | ||||||
| Extra Space Storage, Inc. | 2,333 | 352,633 | ||||||
| Healthpeak Properties, Inc. | 4,152 | 72,286 | ||||||
| Host Hotels & Resorts, Inc. (a) | 4,512 | 69,891 | ||||||
| Invitation Homes, Inc. | 4,630 | 156,031 | ||||||
| Iron Mountain, Inc. | 2,234 | 220,518 | ||||||
| Kimco Realty Corp. | 4,221 | 89,738 | ||||||
| Mid-America Apartment Communities, Inc. (a) | 690 | 108,089 | ||||||
| Prologis, Inc. | 5,460 | 592,956 | ||||||
| Public Storage | 869 | 268,008 | ||||||
| Realty Income Corp. | 10,407 | 589,244 | ||||||
| SBA Communications Corp. (a) | 705 | 163,482 | ||||||
| Simon Property Group, Inc. | 2,116 | 345,056 | ||||||
| Sun Communities, Inc. | 925 | 114,182 | ||||||
| UDR, Inc. | 1,685 | 69,810 | ||||||
| Ventas, Inc. | 8,261 | 531,017 | ||||||
| VICI Properties, Inc. | 8,186 | 259,578 | ||||||
| W.P. Carey, Inc. | 1,212 | 76,065 | ||||||
| Welltower, Inc. | 11,095 | 1,711,737 | ||||||
| Weyerhaeuser Co. | 3,175 | 82,264 |
| TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $8,145,406) | 8,186,728 | |||||||
| CONTINGENT VALUE RIGHTS - 0.0%(c) | ||||||||
| Healthcare - Products - 0.0% | ||||||||
| ABIOMED, Inc., Expires, Exercise Price $0.00 (b)(d) | 455 | 0 | ||||||
| TOTAL CONTINGENT VALUE RIGHTS (Cost $0) | 0 | |||||||
| SHORT-TERM INVESTMENTS - 1.8% | Units | |||||||
| Investments Purchased with Proceeds from Securities Lending - 1.5% | ||||||||
| Mount Vernon Liquid Assets Portfolio, LLC, 4.45% (e) | 7,142,843 | 7,142,843 | ||||||
| Money Market Funds - 0.3% | Shares | |||||||
| First American Government Obligations Fund - Class X, 4.23% (e) | 1,394,651 | 1,394,651 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,537,494) | 8,537,494 | |||||||
| TOTAL INVESTMENTS - 101.4% (Cost $417,045,031) | 485,027,274 | |||||||
| Liabilities in Excess of Other Assets - (1.4)% | (6,732,847 | ) | ||||||
| TOTAL NET ASSETS - 100.0% | $ | 478,294,427 |
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
| (a) | All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $6,932,105 which represented 1.4% of net assets. | |
| (b) | Non-income producing security. | |
| (c) | Represents less than 0.05% of net assets. | |
| (d) | Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of May 31, 2025. | |
| (e) | The rate shown represents the 7-day annualized effective yield as of May 31, 2025. |
Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
SoFi Select 500 ETF (the “Fund”) has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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 speeds, 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 based on the best information available.
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of May 31, 2025:
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments: | ||||||||||||||||
| Common Stocks | $ | 468,303,052 | $ | — | $ | — | $ | 468,303,052 | ||||||||
| Real Estate Investment Trusts - Common | 8,186,728 | — | — | 8,186,728 | ||||||||||||
| Contingent Value Rights | — | — | 0 | 0 | ||||||||||||
| Investments Purchased with Proceeds from Securities Lending(a) | — | — | — | 7,142,843 | ||||||||||||
| Money Market Funds | 1,394,651 | — | — | 1,394,651 | ||||||||||||
| Total Investments | $ | 477,884,431 | $ | — | $ | 0 | $ | 485,027,274 | ||||||||
Refer to the Schedule of Investments for further disaggregation of investment categories.
Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year’s annual report.
| Contingent Value Rights | ||||
| Balance as of February 28, 2025 | $ | 0 | (b) | |
| Accrued discounts/premiums | — | |||
| Realized gain (loss) | — | |||
| Change in unrealized appreciation/(depreciation) | — | |||
| Purchases | — | |||
| Sales | — | |||
| Transfer into and/or out of Level 3 | — | |||
| Balance as of May 31, 2025 | $ | 0 | ||
| Change in unrealized appreciation/(depreciation) during the period for Level 3 investments held at May 31, 2025: | $ | 0 | ||
| (a) | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $7,142,843 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments. | |
| (b) | The Level 3 securities (Contingent Value Rights) are fair valued at $0 due to lack of market activity. |