Aptus Defined Risk ETF
  
Schedule of Investments
  
January 31, 2026 (Unaudited)
  
   
EXCHANGE TRADED FUNDS - 94.6%
    
Shares
    
Value
 
Investment Grade Corporate Bonds - 94.6%
        
Invesco BulletShares 2029 Corporate Bond ETF
      
3,517,530
    
$
66,340,616
  
Invesco BulletShares 2030 Corporate Bond ETF (a)
      
9,121,418
      
154,334,393
  
Invesco BulletShares 2031 Corporate Bond ETF (a)
      
10,545,508
      
176,004,528
  
Invesco BulletShares 2032 Corporate Bond ETF (a)
      
8,665,795
      
180,768,484
  
Invesco BulletShares 2033 Corporate Bond ETF (a)
      
6,953,309
      
148,870,346
  
Invesco BulletShares 2034 Corporate Bond ETF (a)
      
1,756,954
      
36,878,464
  
iShares iBonds Dec 2029 Term Corporate ETF
      
6,731,663
      
158,328,714
  
iShares iBonds Dec 2030 Term Corporate ETF
      
5,997,738
      
132,819,908
  
iShares iBonds Dec 2031 Term Corporate ETF (a)
      
7,339,499
      
155,744,169
  
iShares iBonds Dec 2032 Term Corporate ETF (a)
      
6,296,743
      
161,259,588
  
               
1,371,349,210
  
TOTAL EXCHANGE TRADED FUNDS (Cost $1,341,465,060)
      
1,371,349,210
  
                       
PURCHASED OPTIONS - 4.3% (b)(c)(d)
  
Notional Amount
    
Contracts
    
Value
 
Call Options - 3.8%
                  
Antero Resources Corp., Expiration: 03/20/2026; Exercise Price: $38.00 (e)
  
$
145,480,000
      
40,000
      
6,800,000
  
AppLovin Corp., Expiration: 05/15/2026; Exercise Price: $700.00 (e)
    
141,933,000
      
3,000
      
6,855,000
  
CBOE Volatility Index, Expiration: 02/18/2026; Exercise Price: $25.00 (e)
    
25,811,200
      
14,800
      
1,361,600
  
IREN Ltd., Expiration: 07/17/2026; Exercise Price: $80.00 (e)
    
53,740,000
      
10,000
      
8,600,000
  
iShares Expanded Tech-Software Sector ETF, Expiration: 05/15/2026; Exercise Price: $105.00
    
180,620,000
      
20,000
      
2,800,000
  
Netflix, Inc., Expiration: 09/18/2026; Exercise Price: $100.00 (e)
    
166,980,000
      
20,000
      
9,450,000
  
S&P 500 Index
                  
Expiration: 03/20/2026; Exercise Price: $7,100.00
    
1,040,854,500
      
1,500
      
11,392,500
  
Expiration: 04/17/2026; Exercise Price: $7,500.00 (e)
    
2,775,612,000
      
4,000
      
5,820,000
  
Snap, Inc., Expiration: 03/20/2026; Exercise Price: $10.00
    
69,300,000
      
100,000
      
1,350,000
  
Total Call Options
                    
54,429,100
  
                         
Put Options - 0.5%
                  
iShares iBoxx $ High Yield Corporate Bond ETF (e)
                  
Expiration: 03/20/2026; Exercise Price: $80.00
    
243,360,000
      
30,000
      
1,155,000
  
Expiration: 04/17/2026; Exercise Price: $79.00
    
324,480,000
      
40,000
      
1,760,000
  
S&P 500 Index, Expiration: 02/20/2026; Exercise Price: $6,900.00 (e)
    
485,732,100
      
700
      
4,795,000
  
Total Put Options
                    
7,710,000
  
TOTAL PURCHASED OPTIONS (Cost $65,006,987)
      
62,139,100
  
                         
SHORT-TERM INVESTMENTS
  
MONEY MARKET FUNDS - 1.4%
    
Shares
    
Value
 
First American Treasury Obligations Fund - Class X, 3.60% (f)
      
20,542,719
      
20,542,719
  
TOTAL MONEY MARKET FUNDS (Cost $20,542,719)
      
20,542,719
  
                         
TOTAL INVESTMENTS - 100.3% (Cost $1,427,014,766)
      
1,454,031,029
  
Liabilities in Excess of Other Assets - (0.3)%
      
(4,429,745
)
TOTAL NET ASSETS - 100.0%
                  
$
1,449,601,284
  
           
Percentages are stated as a percent of net assets.
          

(a)
Affiliated security as defined by the Investment Company Act of 1940.
(b)
Non-income producing security.
(c)
Exchange-traded.
(d)
100 shares per contract.
(e)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(f)
The rate shown represents the 7-day annualized yield as of January 31, 2026.


Aptus Defined Risk ETF
  
Schedule of Written Options
  
January 31, 2026 (Unaudited)
  
   
WRITTEN OPTIONS - (0.7)% (a)(b)
  
Notional Amount
    
Contracts
    
Value
  
Call Options - (0.6)%
  
Antero Resources Corp., Expiration: 03/20/2026; Exercise Price: $45.00
  
$
(145,480,000
)
    
(40,000
)
  
$
(1,100,000
)
AppLovin Corp., Expiration: 05/15/2026; Exercise Price: $900.00
    
(141,933,000
)
    
(3,000
)
    
(2,115,000
)
CBOE Volatility Index, Expiration: 02/18/2026; Exercise Price: $50.00
    
(25,811,200
)
    
(14,800
)
    
(377,400
)
IREN Ltd., Expiration: 05/15/2026; Exercise Price: $110.00
    
(26,870,000
)
    
(5,000
)
    
(1,562,500
)
Netflix, Inc., Expiration: 09/18/2026; Exercise Price: $125.00
    
(125,235,000
)
    
(15,000
)
    
(1,927,500
)
S&P 500 Index, Expiration: 04/17/2026; Exercise Price: $7,800.00
    
(2,775,612,000
)
    
(4,000
)
    
(1,020,000
)
Total Call Options
                    
(8,102,400
)
                         
Put Options - (0.1)%
  
iShares iBoxx $ High Yield Corporate Bond ETF
                        
Expiration: 03/20/2026; Exercise Price: $75.00
    
(243,360,000
)
    
(30,000
)
    
(285,000
)
Expiration: 04/17/2026; Exercise Price: $74.00
    
(324,480,000
)
    
(40,000
)
    
(560,000
)
S&P 500 Index, Expiration: 02/20/2026; Exercise Price: $6,450.00
    
(485,732,100
)
    
(700
)
    
(826,000
)
Total Put Options
                    
(1,671,000
)
TOTAL WRITTEN OPTIONS (Premiums received $9,909,622)
                  
$
(9,773,400
)
   
Percentages are stated as a percent of net assets.
  

(a)
Exchange-traded.
(b)
100 shares per contract.


Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
 
Aptus Defined Risk 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:
                        
  Exchange Traded Funds
  
$
1,371,349,210
    
$
–
    
$
–
    
$
1,371,349,210
  
  Purchased Options
    
–
      
62,139,100
      
–
      
62,139,100
  
  Money Market Funds
    
20,542,719
      
–
      
–
      
20,542,719
  
Total Investments
  
$
1,391,891,929
    
$
62,139,100
    
$
–
    
$
1,454,031,029
  
                                 
Liabilities:
                                
Investments:
                                
  Written Options
  
$
–
    
$
(9,773,400
)
  
$
–
    
$
(9,773,400
)
Total Investments
  
$
–
    
$
(9,773,400
)
  
$
–
    
$
(9,773,400
)
   
Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories.
  


Aptus Defined Risk ETF - Transactions with Affiliates
        
   
Value as of
April 30, 2025
    
Additions
    
Reductions
    
Realized
Gain (Loss)
    
Net Change in Unrealized Appreciation (Depreciation)
    
Value as of
January 31, 2026
    
Shares as of
January 31, 2026
    
Dividend /
Interest Income
    
Capital Gain Distributions from Underlying Funds
  
Invesco BulletShares 2030 Corporate Bond ETF
  
$
126,560,646
    
$
29,978,889
    
$
(4,436,735
)
  
$
213,995
    
$
2,017,598
    
$
154,334,393
      
9,121,418
    
$
4,941,834
    
$
–
  
Invesco BulletShares 2031 Corporate Bond ETF
    
126,714,642
      
50,965,662
      
(4,988,909
)
    
285,497
      
3,027,636
      
176,004,528
      
10,545,508
      
5,635,076
      
–
  
Invesco BulletShares 2032 Corporate Bond ETF
    
107,820,948
      
73,816,102
      
(5,038,795
)
    
231,067
      
3,939,162
      
180,768,484
      
8,665,795
      
5,875,188
      
–
  
Invesco BulletShares 2033 Corporate Bond ETF
    
81,927,399
      
67,670,062
      
(4,128,303
)
    
136,982
      
3,264,206
      
148,870,346
      
6,953,309
      
4,883,577
      
–
  
Invesco BulletShares 2034 Corporate Bond ETF
    
–
      
37,426,181
      
(324,787
)
    
978
      
(223,908
)
    
36,878,464
      
1,756,954
      
281,731
      
–
  
iShares iBonds Dec 2030 Term Corporate ETF (a)
    
109,062,186
      
25,761,145
      
(3,808,688
)
    
184,712
      
1,620,553
      
132,819,908
      
5,997,738
      
4,159,390
      
–
  
iShares iBonds Dec 2031 Term Corporate ETF
    
127,403,196
      
30,160,357
      
(4,464,506
)
    
260,416
      
2,384,706
      
155,744,169
      
7,339,499
      
5,076,864
      
–
  
iShares iBonds Dec 2032 Term Corporate ETF
    
102,371,837
      
59,977,882
      
(3,917,087
)
    
216,771
      
2,610,185
      
161,259,588
      
6,296,743
      
4,255,069
      
–
  
   
$
781,860,854
    
$
375,756,280
    
$
(31,107,810
)
  
$
1,530,418
    
$
18,640,138
    
$
1,146,679,880
      
56,676,964
    
$
35,108,729
    
$
–
  

(a)
  
Security is still held but is no longer affiliated as of January 31, 2026.