Aptus Deferred Income ETF
  
Schedule of Investments
  
January 31, 2026 (Unaudited)
  
   
PURCHASED OPTIONS - 93.1% (a)(b)(c)
  
Notional Amount
    
Contracts
    
Value
 
Call Options - 49.0%
              
Invesco QQQ Trust Series 1, Expiration: 03/20/2026; Exercise Price: $100.00 (d)
  
$
61,129,821
      
983
    
$
51,352,952
  
iShares 7-10 Year Treasury Bond ETF, Expiration: 03/20/2026; Exercise Price: $96.55 (d)
    
80,829,450
      
8,425
      
286,450
  
Total Call Options
                    
51,639,402
  
                         
Put Options - 44.1%
                  
Invesco QQQ Trust Series 1, Expiration: 03/20/2026; Exercise Price: $1,100.00 (d)
    
61,129,821
      
983
      
46,407,843
  
TOTAL PURCHASED OPTIONS (Cost $98,145,919)
      
98,047,245
  
                         
SHORT-TERM INVESTMENTS
  
U.S. TREASURY BILLS - 5.5%
    
Par
    
Value
 
3.54%, 07/09/2026 (e)(f)
    
$
5,850,000
      
5,759,983
  
TOTAL U.S. TREASURY BILLS (Cost $5,760,651)
      
5,759,983
  
                         
MONEY MARKET FUNDS - 0.2%
    
Shares
    
Value
 
First American Treasury Obligations Fund - Class X, 3.59% (g)
      
245,867
      
245,867
  
TOTAL MONEY MARKET FUNDS (Cost $245,867)
      
245,867
  
                         
TOTAL INVESTMENTS - 98.8% (Cost $104,152,437)
      
104,053,095
  
Other Assets in Excess of Liabilities - 1.2%
      
1,308,525
  
TOTAL NET ASSETS - 100.0%
                  
$
105,361,620
  
           
Par amount is in USD unless otherwise indicated.
          
Percentages are stated as a percent of net assets.
          

(a)
Non-income producing security.
(b)
Exchange-traded.
(c)
100 shares per contract.
(d)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(e)
The rate shown is the annualized yield as of January 31, 2026.
(f)
All or a portion of the security has been pledged as collateral for swap contracts. The fair value of assets committed as collateral as of January 31, 2026 was $5,759,969.
(g)
The rate shown represents the 7-day annualized yield as of January 31, 2026.

   
Aptus Deferred Income ETF
  
Schedule of Written Options
  
January 31, 2026 (Unaudited)
  
   
WRITTEN OPTIONS - (1.0)% (a)(b)
  
Notional Amount
    
Contracts
    
Value
  
Call Options - (0.0)% (c)
  
Invesco QQQ Trust Series 1, Expiration: 03/20/2026; Exercise Price: $1,100.00
  
$
(61,129,821
)
    
(983
)
  
$
(167
)
                         
Put Options - (1.0)%
  
Invesco QQQ Trust Series 1, Expiration: 03/20/2026; Exercise Price: $100.00
    
(61,129,821
)
    
(983
)
    
(649
)
iShares 7-10 Year Treasury Bond ETF, Expiration: 03/20/2026; Exercise Price: $96.55
    
(80,829,450
)
    
(8,425
)
    
(1,002,575
)
Total Put Options
                    
(1,003,224
)
TOTAL WRITTEN OPTIONS (Premiums received $985,148)
                  
$
(1,003,391
)
   
Percentages are stated as a percent of net assets.
  

(a)
Exchange-traded.
(b)
100 shares per contract.
(c)
Represents less than 0.05% of net assets.


Aptus Deferred Income ETF
  
Schedule of Total Return Swap Contracts
  
January 31, 2026 (Unaudited)
  
   
Reference Entity
Counterparty
Pay/ Receive Reference Entity
Financing Rate
Payment Frequency
Maturity Date
  
Notional Amount
    
Value/ Unrealized Appreciation (Depreciation)
  
RCXTSOA7 (a)
Goldman Sachs
Receive
EFFR
Termination
06/25/2027
    
$
7,004,068
    
$
65,750
  
RCXTSOA7 (a)
Goldman Sachs
Receive
EFFR
Termination
05/14/2030
      
43,388,149
      
2,350,656
  
Net Unrealized Appreciation (Depreciation)
        
0
    
$
2,416,406
  
   
There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026.
  
EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026.
  
   
(a) The Systematic Dynamic PutWrite Series 1 (“RCXTSOA7” or the “Index”) is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The index generally is made up of S&P Index options. As of January 31, 2026, the components of the Index are provided below.
  

The underlying components of the index as of Janaury 31, 2026 are shown below:
        
                       
Description
  
Expiration
Date
  
Number of
Contracts Sold
    
Notional
Amount
    
Concentration
% of Exposure
  
Option Contracts:
                      
S&P 500 Weekly Index P6765
  
02/02/2026
    
(100.18
)
  
$
(119
)
    
0.00
%
S&P 500 Weekly Index P6795
  
02/02/2026
    
(392.54
)
    
(811
)
    
0.00
%
S&P 500 Weekly Index P6820
  
02/02/2026
    
(352.69
)
    
(1,209
)
    
0.00
%
S&P 500 Weekly Index P6850
  
02/02/2026
    
(1293.65
)
    
(7,895
)
    
-0.02
%
S&P 500 Weekly Index P6765
  
02/03/2026
    
(213.67
)
    
(771
)
    
0.00
%
S&P 500 Weekly Index P6795
  
02/03/2026
    
(138.58
)
    
(748
)
    
0.00
%
S&P 500 Weekly Index P6800
  
02/03/2026
    
(99.73
)
    
(576
)
    
0.00
%
S&P 500 Weekly Index P6805
  
02/03/2026
    
(393.21
)
    
(2,417
)
    
0.00
%
S&P 500 Weekly Index P6860
  
02/03/2026
    
(172.54
)
    
(2,192
)
    
0.00
%
S&P 500 Weekly Index P6745
  
02/04/2026
    
(138.65
)
    
(687
)
    
0.00
%
S&P 500 Weekly Index P6775
  
02/04/2026
    
(99.35
)
    
(688
)
    
0.00
%
S&P 500 Weekly Index P6780
  
02/04/2026
    
(214.04
)
    
(1,561
)
    
0.00
%
S&P 500 Weekly Index P6900
  
02/04/2026
    
(172.46
)
    
(4,603
)
    
-0.01
%
S&P 500 Weekly Index P6725
  
02/05/2026
    
(99.39
)
    
(646
)
    
0.00
%
S&P 500 Weekly Index P6755
  
02/05/2026
    
(138.89
)
    
(1,222
)
    
0.00
%
S&P 500 Weekly Index P6940
  
02/05/2026
    
(171.87
)
    
(8,044
)
    
-0.02
%
S&P 500 Weekly Index P6730
  
02/06/2026
    
(99.57
)
    
(1,075
)
    
0.00
%
S&P 500 Weekly Index P6920
  
02/06/2026
    
(171.15
)
    
(7,966
)
    
-0.02
%
S&P 500 Weekly Index P6920
  
02/09/2026
    
(171.61
)
    
(8,822
)
    
-0.02
%
S&P 500 Weekly Index P6970
  
02/10/2026
    
(171.63
)
    
(12,775
)
    
-0.03
%
S&P 500 Weekly Index P6975
  
02/11/2026
    
(170.93
)
    
(13,796
)
    
-0.03
%
S&P 500 Weekly Index P6960
  
02/12/2026
    
(170.77
)
    
(13,266
)
    
-0.03
%
S&P 500 Weekly Index P6925
  
02/13/2026
    
(171.00
)
    
(11,493
)
    
-0.02
%
S&P 500 Weekly Index P6940
  
02/17/2026
    
(171.67
)
    
(13,228
)
    
-0.03
%
S&P 500 Weekly Index P6940
  
02/18/2026
    
(171.47
)
    
(13,736
)
    
-0.03
%
S&P 500 Weekly Index P6800
  
02/19/2026
    
(171.63
)
    
(7,920
)
    
-0.02
%
S&P 500 Weekly Index P6875
  
02/20/2026
    
(173.24
)
    
(11,580
)
    
-0.02
%
S&P 500 Weekly Index P6910
  
02/23/2026
    
(172.75
)
    
(13,808
)
    
-0.03
%
S&P 500 Weekly Index P6920
  
02/24/2026
    
(172.39
)
    
(14,817
)
    
-0.03
%
S&P 500 Weekly Index P6950
  
02/25/2026
    
(172.42
)
    
(17,111
)
    
-0.03
%
S&P 500 Weekly Index P6980
  
02/26/2026
    
(172.03
)
    
(19,907
)
    
-0.03
%
S&P 500 Weekly Index P6980
  
02/27/2026
    
(171.57
)
    
(20,284
)
    
-0.04
%
S&P 500 Weekly Index P6970
  
03/02/2026
    
(171.62
)
    
(19,982
)
    
-0.04
%
S&P 500 Weekly Index P6940
  
03/03/2026
    
(171.78
)
    
(18,482
)
    
-0.04
%
Total Options Contracts
                
(274,237
)
    
-0.54
%
Cash
                            
Cash
                
50,666,454
      
100.54
%
Total Underlying Positions
              
$
50,392,217
      
100.00
%
                             
 
Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
 
Aptus Deferred Income 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 January 31, 2026:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Purchased Options
  
$
286,450
    
$
97,760,795
    
$
–
    
$
98,047,245
  
  U.S. Treasury Bills
    
–
      
5,759,983
      
–
      
5,759,983
  
  Money Market Funds
    
245,867
      
–
      
–
      
245,867
  
Total Investments
  
$
532,317
    
$
103,520,778
    
$
–
    
$
104,053,095
  
   
Other Financial Instruments:
                                
  Total Return Swaps*
  
$
–
    
$
2,416,406
    
$
–
    
$
2,416,406
  
Total Other Financial Instruments
  
$
–
    
$
2,416,406
    
$
–
    
$
2,416,406
  
                                 
Liabilities:
                                
Investments:
                                
  Written Options
  
$
(1,002,575
)
  
$
(816
)
  
$
–
    
$
(1,003,391
)
Total Investments
  
$
(1,002,575
)
  
$
(816
)
  
$
–
    
$
(1,003,391
)
   
* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026.
  
   
Refer to the Schedule of Investments, Schedule of Written Options, and Schedule of Total Return Swap Contracts for further disaggregation of investment categories.