Madison Covered Call ETF
  
Schedule of Investments
  
March 31, 2026 (Unaudited)
  
   
COMMON STOCKS - 95.8%
  
Shares
   
Value
 
Communications - 8.3%
        
Comcast Corp. - Class A (a)
    
30,300
    
$
869,913
  
Meta Platforms, Inc. - Class A (a)
    
1,500
      
858,195
  
T-Mobile US, Inc. (a)
    
5,400
      
1,134,162
  
             
2,862,270
  
                 
Consumer Discretionary - 10.1%
          
Amazon.com, Inc. (a)(b)
    
5,400
      
1,124,658
  
Las Vegas Sands Corp. (a)
    
13,500
      
727,380
  
Lowe's Cos., Inc. (a)
    
4,300
      
1,016,004
  
NIKE, Inc. - Class B (a)
    
11,200
      
591,584
  
             
3,459,626
  
                 
Consumer Staples - 9.8%
          
Archer-Daniels-Midland Co. (a)
    
19,000
      
1,381,110
  
Constellation Brands, Inc. - Class A (a)
    
5,800
      
870,000
  
PepsiCo, Inc. (a)
    
7,200
      
1,118,088
  
             
3,369,198
  
                 
Energy - 7.1%
          
Matador Resources Co. (a)
    
19,000
      
1,200,420
  
Transocean Ltd. (b)
    
190,000
      
1,259,700
  
             
2,460,120
  
                 
Financials - 13.3%
          
Blackrock, Inc. (a)
    
1,000
      
961,710
  
Fiserv, Inc. (a)(b)
    
15,500
      
864,900
  
Marsh & McLennan Cos., Inc. (a)
    
5,400
      
936,630
  
PayPal Holdings, Inc. (a)
    
17,000
      
768,910
  
Visa, Inc. - Class A (a)
    
3,400
      
1,027,616
  
             
4,559,766
  
                 
Health Care - 7.1%
          
Agilent Technologies, Inc. (a)
    
9,500
      
1,082,810
  
Danaher Corp. (a)
    
7,200
      
1,365,120
  
             
2,447,930
  
                 
Industrials - 7.3%
          
Honeywell International, Inc. (a)
    
4,200
      
949,326
  
Illinois Tool Works, Inc. (a)
    
2,600
      
676,754
  
Union Pacific Corp. (a)
    
3,700
      
897,694
  
             
2,523,774
  
                 
Materials - 2.4%
          
Newmont Corp. (a)
    
7,500
      
811,875
  
                 
Technology - 28.2% (c)
          
Accenture PLC - Class A (a)
    
5,300
      
1,050,937
  
Adobe, Inc. (a)(b)
    
4,400
      
1,069,552
  
Broadcom, Inc. (a)
    
3,000
      
928,530
  
Microchip Technology, Inc. (a)
    
20,000
      
1,292,200
  
Microsoft Corp. (a)
    
3,300
      
1,221,561
  
Palo Alto Networks, Inc. (a)(b)
    
4,500
      
721,440
  
QUALCOMM, Inc. (a)
    
8,200
      
1,055,996
  
Salesforce, Inc. (a)
    
5,000
      
933,350
  
Synopsys, Inc. (a)(b)
    
1,800
      
713,664
  
Texas Instruments, Inc. (a)
    
3,600
      
698,904
  
             
9,686,134
  
                 
                 
Utilities - 2.2%
          
AES Corp.
    
53,000
      
746,770
  
TOTAL COMMON STOCKS (Cost $40,304,597)
      
32,927,463
  
                 
REAL ESTATE INVESTMENT TRUSTS - COMMON - 2.9%
  
Shares
   
Value
 
Real Estate - 2.9%
          
American Tower Corp. (a)
    
5,800
      
1,000,964
  
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,347,953)
      
1,000,964
  
                 
TOTAL INVESTMENTS - 98.7% (Cost $41,652,550)
      
33,928,427
  
Money Market Deposit Account - 3.6% (d)
      
1,243,188
  
Liabilities in Excess of Other Assets - (2.3)%
      
(813,028
)
TOTAL NET ASSETS - 100.0%
          
$
34,358,587
  
                 
Percentages are stated as a percent of net assets.
          

(a)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(b)
Non-income producing security.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2026 was 3.45%.
   
Madison Covered Call ETF
  
Schedule of Written Options
  
March 31, 2026 (Unaudited)
  
   
WRITTEN OPTIONS - (2.5)%
  
Notional Amount
    
Contracts
    
Value
  
Call Options - (2.5)% (a)(b)
  
Accenture PLC, Expiration: 06/18/2026; Exercise Price: $230.00
  
$
(1,050,937
)
    
(53
)
  
$
(25,705
)
Adobe, Inc., Expiration: 05/15/2026; Exercise Price: $270.00
    
(1,069,552
)
    
(44
)
    
(19,140
)
Agilent Technologies, Inc., Expiration: 06/18/2026; Exercise Price: $130.00
    
(1,082,810
)
    
(95
)
    
(25,175
)
Amazon.com, Inc., Expiration: 06/18/2026; Exercise Price: $240.00
    
(1,124,658
)
    
(54
)
    
(22,005
)
American Tower Corp., Expiration: 06/18/2026; Exercise Price: $190.00
    
(1,000,964
)
    
(58
)
    
(18,125
)
Archer-Daniels-Midland Co., Expiration: 06/18/2026; Exercise Price: $75.00
    
(1,381,110
)
    
(190
)
    
(68,400
)
Blackrock, Inc., Expiration: 06/18/2026; Exercise Price: $1,100.00
    
(961,710
)
    
(10
)
    
(14,500
)
Broadcom, Inc., Expiration: 06/18/2026; Exercise Price: $350.00
    
(928,530
)
    
(30
)
    
(41,250
)
Comcast Corp., Expiration: 06/18/2026; Exercise Price: $35.00
    
(869,913
)
    
(303
)
    
(4,848
)
Constellation Brands, Inc., Expiration: 06/18/2026; Exercise Price: $170.00
    
(870,000
)
    
(58
)
    
(15,950
)
Danaher Corp., Expiration: 05/15/2026; Exercise Price: $230.00
    
(1,365,120
)
    
(72
)
    
(2,160
)
Fiserv, Inc., Expiration: 06/18/2026; Exercise Price: $70.00
    
(864,900
)
    
(155
)
    
(25,187
)
Honeywell International, Inc., Expiration: 06/18/2026; Exercise Price: $240.00
    
(949,326
)
    
(42
)
    
(25,200
)
Illinois Tool Works, Inc., Expiration: 05/15/2026; Exercise Price: $270.00
    
(676,754
)
    
(26
)
    
(15,340
)
Las Vegas Sands Corp., Expiration: 04/17/2026; Exercise Price: $62.50
    
(727,380
)
    
(135
)
    
(4,388
)
Lowe's Cos., Inc., Expiration: 06/18/2026; Exercise Price: $260.00
    
(1,016,004
)
    
(43
)
    
(23,543
)
Marsh & McLennan Cos., Inc., Expiration: 04/17/2026; Exercise Price: $200.00
    
(936,630
)
    
(54
)
    
(5,265
)
Matador Resources Co., Expiration: 06/18/2026; Exercise Price: $60.00
    
(1,124,604
)
    
(178
)
    
(121,930
)
Meta Platforms, Inc., Expiration: 06/18/2026; Exercise Price: $630.00
    
(858,195
)
    
(15
)
    
(31,763
)
Microchip Technology, Inc., Expiration: 06/18/2026; Exercise Price: $75.00
    
(1,292,200
)
    
(200
)
    
(54,500
)
Microsoft Corp., Expiration: 06/18/2026; Exercise Price: $430.00
    
(1,221,561
)
    
(33
)
    
(14,602
)
Newmont Corp., Expiration: 05/15/2026; Exercise Price: $115.00
    
(811,875
)
    
(75
)
    
(42,938
)
NIKE, Inc., Expiration: 06/18/2026; Exercise Price: $60.00
    
(591,584
)
    
(112
)
    
(18,760
)
Palo Alto Networks, Inc., Expiration: 05/15/2026; Exercise Price: $170.00
    
(721,440
)
    
(45
)
    
(23,625
)
PayPal Holdings, Inc., Expiration: 06/18/2026; Exercise Price: $55.00
    
(768,910
)
    
(170
)
    
(16,575
)
PepsiCo, Inc., Expiration: 04/17/2026; Exercise Price: $155.00
    
(1,118,088
)
    
(72
)
    
(34,560
)
QUALCOMM, Inc.
                        
Expiration: 05/15/2026; Exercise Price: $165.00
    
(450,730
)
    
(35
)
    
(997
)
Expiration: 06/18/2026; Exercise Price: $150.00
    
(605,266
)
    
(47
)
    
(11,444
)
Salesforce, Inc., Expiration: 06/18/2026; Exercise Price: $200.00
    
(933,350
)
    
(50
)
    
(49,125
)
Synopsys, Inc., Expiration: 05/15/2026; Exercise Price: $440.00
    
(713,664
)
    
(18
)
    
(19,260
)
Texas Instruments, Inc., Expiration: 06/18/2026; Exercise Price: $220.00
    
(698,904
)
    
(36
)
    
(15,930
)
T-Mobile US, Inc., Expiration: 05/15/2026; Exercise Price: $240.00
    
(1,134,162
)
    
(54
)
    
(9,342
)
Union Pacific Corp., Expiration: 06/18/2026; Exercise Price: $260.00
    
(897,694
)
    
(37
)
    
(21,275
)
Visa, Inc., Expiration: 05/15/2026; Exercise Price: $330.00
    
(1,027,616
)
    
(34
)
    
(9,129
)
TOTAL WRITTEN OPTIONS (Premiums received $879,447)
                  
$
(851,936
)
   
Percentages are stated as a percent of net assets.
  

(a)
100 shares per contract.
(b)
Exchange-traded.
Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
 
Madison Covered Call 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 March 31, 2026:


   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Common Stocks
  
$
32,927,463
    
$
–
    
$
–
    
$
32,927,463
  
  Real Estate Investment Trusts
    
1,000,964
      
–
      
–
      
1,000,964
  
Total Investments
  
$
33,928,427
    
$
–
    
$
–
    
$
33,928,427
  
                                 
Liabilities:
                                
Investments:
                                
  Written Options
  
$
–
    
$
(851,936
)
  
$
–
    
$
(851,936
)
Total Investments
  
$
–
    
$
(851,936
)
  
$
–
    
$
(851,936
)
   
Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories.