US Treasury 2 Year Note ETF
  
Schedule of Investments
  
May 31, 2025 (Unaudited)
  
   
U.S. TREASURY SECURITIES - 99.7%
  
Par
    
Value
  
United States Treasury Note/Bond, 3.88%, 05/31/2027
  
$
380,360,000
    
$
380,241,137
  
TOTAL U.S. TREASURY SECURITIES (Cost $380,241,137)
      
380,241,137
  
                 
TOTAL INVESTMENTS - 99.7% (Cost $380,241,137)
    
$
380,241,137
  
Other Assets in Excess of Liabilities - 0.3%
      
1,148,304
  
TOTAL NET ASSETS - 100.0%
          
$
381,389,441
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%


Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
 
US Treasury 2 Year Note 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:
                        
  U.S. Treasury Securities
  
$
–
    
$
380,241,137
    
$
–
    
$
380,241,137
  
Total Investments
  
$
–
    
$
380,241,137
    
$
–
    
$
380,241,137
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.