U.S. Global Sea to Sky Cargo ETF
Schedule of Investments
March 31, 2026 (Unaudited)

COMMON STOCKS - 96.6%	Shares		Value
Australia - 2.8%
Brambles Ltd.		32,947	$	513,738

Bermuda - 6.2%
DHT Holdings, Inc.		20,765		379,377
Teekay Corp. Ltd.		62,843		767,313
				1,146,690

Canada - 2.2%
Teekay Tankers Ltd.		5,383		394,682

China - 15.2%
COSCO SHIPPING Energy Transportation Co. Ltd. - Class H		151,650		346,769
COSCO SHIPPING Holdings Co. Ltd. - Class H		430,392		817,839
J&T Global Express Ltd. ^(a)		417,270		538,004
SF Holding Co. Ltd. - Class H		118,599		533,009
ZTO Express Cayman, Inc. - ADR		22,332		562,097
				2,797,718

Denmark - 2.7%
DSV AS		2,106		498,714

Germany - 2.8%
Deutsche Post AG		9,960		515,176

Greece - 3.9%
Danaos Corp.		6,418		722,923

Hong Kong - 9.0%
Orient Overseas International Ltd.		44,378		787,250
SITC International Holdings Co. Ltd.		198,240		861,605
				1,648,855

Japan - 5.8%
Mitsui OSK Lines Ltd.		9,020		369,200
Nippon Yusen KK		19,346		703,114
				1,072,314

Singapore - 9.1%
BW LPG Ltd. ^(b)		49,708		878,870
Hafnia Ltd. ^(c)		105,179		799,360
				1,678,230

Spain - 3.0%
Logista Integral SA		14,898		555,515

Switzerland - 5.0%
Kuehne + Nagel International AG		4,028		908,265

Taiwan - 12.2%
Evergreen Marine Corp. Taiwan Ltd.		131,474		820,428
Wan Hai Lines, Ltd.		347,581		838,239
Yang Ming Marine Transport Corp.		358,794		583,587
				2,242,254

United Kingdom - 6.0%
Global Ship Lease, Inc. - Class A		18,690		695,828
TORM PLC - Class A		14,192		395,957
				1,091,785

United States - 10.7%
Expeditors International of Washington, Inc. ^(c)		3,686		527,946
FedEx Corp.		1,485		528,927
Matson, Inc. ^(c)		2,343		384,111
United Parcel Service, Inc. - Class B		5,357		527,022
				1,968,006
TOTAL COMMON STOCKS (Cost $15,978,280)				17,754,865

SHORT-TERM INVESTMENTS
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 7.0%	Units		Value
Mount Vernon Liquid Assets Portfolio, LLC, 3.78% ^(d)		1,290,967		1,290,967
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $1,290,967)				1,290,967

MONEY MARKET FUNDS - 5.0%	Shares		Value
First American Government Obligations Fund - Class X, 3.58% ^(d)		905,639		905,639
First American Treasury Obligations Fund - Class X, 3.59% ^(d)		1,601		1,601
TOTAL MONEY MARKET FUNDS (Cost $907,240)				907,240

TOTAL INVESTMENTS - 108.6% (Cost $18,176,487)				19,953,072
Liabilities in Excess of Other Assets - (8.6)%				(1,583,598	)
TOTAL NET ASSETS - 100.0%			$	18,369,474

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

LLC - Limited Liability Company

PLC - Public Limited Company

(a)	Non-income producing security.
(b)	Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of March 31, 2026, the value of these securities total $878,870 or 4.8% of the Fund’s net assets.
(c)	All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $1,246,724.
(d)	The rate shown represents the 7-day annualized yield as of March 31, 2026.

Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)

U.S. Global Sea to Sky Cargo 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
Investments:
Common Stocks	$	17,754,865	$	–	$	–	$	17,754,865
Investments Purchased with Proceeds from Securities Lending^(a)		–		–		–		1,290,967
Money Market Funds		907,240		–		–		907,240
Total Investments	$	18,662,105	$	–	$	–	$	19,953,072

Refer to the Schedule of Investments for further disaggregation of investment categories.

(a)

Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $1,290,967 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.