VistaShares Animal Spirits Daily 2x Strategy ETF

Schedule of Investments

July 31, 2025 (Unaudited)

MONEY MARKET FUND - 0.2%	Shares		Value
Money Market Funds - 0.2%
First American Government Obligations Fund - Class X, 4.214%^(a)		2,460	$	2,460

TOTAL MONEY MARKET FUND (Cost $2,460)				2,460

TOTAL INVESTMENTS - 0.2% (Cost $2,460)			$	2,460
Other Assets in Excess of Liabilities - 99.8%				1,226,774
TOTAL NET ASSETS - 100.0%			$	1,229,234

Percentages are stated as a percent of net assets.

(a)	The rate shown represents the 7-day annualized effective yield as of July 31, 2025.

VistaShares Animal Spirits Daily 2x Strategy ETF

Schedule of Total Return Swaps Contracts

July 31, 2025 (Unaudited)

SWAP - TOTAL RETURN – 7.2%

Reference Entity

Counterparty

Pay/ Receive
Reference Entity

Financing Rate

Payment
Frequency

Maturity Date

Notional Value

Value / Unrealized Appreciation (Depreciation)

Alphabet, Inc.

MAREX CAPITAL MARKETS INC.

Receive

OBFR + 2.50%

Monthly

07/31/26

495,486

36,499

Apple, Inc.

MAREX CAPITAL MARKETS INC.

Receive

OBFR + 2.50%

Monthly

07/31/26

492,563

2,973

Hims & Hers Health, Inc.

MAREX CAPITAL MARKETS INC.

Receive

OBFR + 4.00%

Monthly

08/27/26

491,188

63,224

Palantir Technologies, Inc.

MAREX CAPITAL MARKETS INC.

Receive

OBFR + 4.00%

Monthly

08/27/26

495,477

(1,337

)

Tesla, Inc.

MAREX CAPITAL MARKETS INC.

Receive

OBFR + 4.00%

Monthly

08/27/26

491,999

(12,721

)

88,638

Net Unrealized Appreciation (Depreciation)

88,638

There are no upfront payments or receipts associated with total return swaps in the Fund as of July 31, 2025.

OBFR – Overnight Bank Funding Rate was 4.33% as of July 31, 2025.

Percentages are stated as a percent of net assets.