| VistaShares Target 15 DRUKMacro Distribution ETF | ||||||
| Schedule of Investments | ||||||
| April 30, 2026 (Unaudited) | ||||||
| COMMON STOCKS - 73.3% | Shares | Value | ||||||||||
| Consumer Discretionary Services - 3.5% | ||||||||||||
| Restaurant Brands International, Inc.(a) | 8,800 | $ | 709,984 | |||||||||
| Health Care - 12.2% | ||||||||||||
| Cogent Biosciences, Inc.(a)(b) | 14,932 | 534,416 | ||||||||||
| Insmed, Inc.(a)(b) | 25 | 3,408 | ||||||||||
| Natera, Inc.(a)(b) | 25 | 5,154 | ||||||||||
| Newamsterdam Pharma Co. NV(a)(b) | 21,133 | 603,559 | ||||||||||
| Teva Pharmaceutical Industries Ltd., ADR(a)(b) | 38,483 | 1,349,599 | ||||||||||
| 2,496,136 | ||||||||||||
| Industrial Products - 11.9% | ||||||||||||
| Bloom Energy Corp. - Class A(a)(b) | 2,744 | 777,540 | ||||||||||
| Westinghouse Air Brake Technologies Corp.(a) | 1,758 | 474,467 | ||||||||||
| Woodward, Inc.(a) | 3,261 | 1,183,710 | ||||||||||
| 2,435,717 | ||||||||||||
| Materials - 2.6% | ||||||||||||
| Alcoa Corp.(a) | 8,390 | 535,198 | ||||||||||
| Media - 5.2% | ||||||||||||
| Alphabet, Inc. - Class A(a) | 2,749 | 1,057,815 | ||||||||||
| Retail & Wholesale - Discretionary - 20.5% | ||||||||||||
| Amazon.com, Inc.(a)(b) | 5,857 | 1,552,457 | ||||||||||
| Coupang, Inc. - Class A(a)(b) | 61,971 | 1,238,181 | ||||||||||
| MercadoLibre, Inc.(a)(b) | 400 | 717,052 | ||||||||||
| Sea Ltd. - Class A, ADR(a)(b) | 7,922 | 672,419 | ||||||||||
| 4,180,109 | ||||||||||||
| Retail & Wholesale - Staples - 3.1% | ||||||||||||
| BBB Foods, Inc. - Class A(a)(b) | 17,242 | 629,333 | ||||||||||
| Software & Tech Services - 2.7% | ||||||||||||
| DocuSign, Inc.(a)(b) | 12,269 | 564,251 | ||||||||||
| Tech Hardware & Semiconductors - 11.6% | ||||||||||||
| Entegris, Inc.(a) | 3,680 | 520,278 | ||||||||||
| Lattice Semiconductor Corp.(a)(b) | 4,860 | 594,281 | ||||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd., ADR(a) | 3,166 | 1,253,926 | ||||||||||
| 2,368,485 | ||||||||||||
| TOTAL COMMON STOCKS (Cost $14,084,802) | 14,977,028 | |||||||||||
| PURCHASED OPTIONS - 5.1%(b)(c)(d)(e) | Notional Amount | Contracts | Value | |||||||||
| Call Options - 5.1% | ||||||||||||
| Alcoa Corp., Expiration: 5/15/2026; Exercise Price: $75.00 | $ | 529,457 | 83 | 2,199 | ||||||||
| Alphabet, Inc., Expiration: 5/15/2026; Exercise Price: $395.00 | 1,038,960 | 27 | 16,267 | |||||||||
| Alphabet, Inc., Expiration: 5/15/2026; Exercise Price: $350.00 | $ | 1,038,960 | 27 | $ | 98,752 | |||||||
| Amazon.com, Inc., Expiration: 5/15/2026; Exercise Price: $265.00 | 1,537,348 | 58 | 38,570 | |||||||||
| BBB Foods, Inc., Expiration: 5/15/2026; Exercise Price: $45.00 | 627,800 | 172 | 2,150 | |||||||||
| Bloom Energy Corp., Expiration: 5/15/2026; Exercise Price: $310.00 | 765,072 | 27 | 32,872 | |||||||||
| Cogent Biosciences, Inc., Expiration: 5/15/2026; Exercise Price: $40.00 | 533,271 | 149 | 11,175 | |||||||||
| Coupang, Inc., Expiration: 5/15/2026; Exercise Price: $26.00 | 1,236,762 | 619 | 2,476 | |||||||||
| Entegris, Inc., Expiration: 5/15/2026; Exercise Price: $155.00 | 508,968 | 36 | 9,360 | |||||||||
| Insmed, Inc., Expiration: 5/15/2026; Exercise Price: $160.00 | 1,622,327 | 119 | 18,743 | |||||||||
| Insmed, Inc., Expiration: 5/15/2026; Exercise Price: $135.00 | 1,622,327 | 119 | 107,100 | |||||||||
| Lattice Semiconductor Corp., Expiration: 5/15/2026; Exercise Price: $120.00 | 586,944 | 48 | 51,120 | |||||||||
| MercadoLibre, Inc., Expiration: 5/15/2026; Exercise Price: $2,120.00 | 717,052 | 4 | 3,770 | |||||||||
| Natera, Inc., Expiration: 5/15/2026; Exercise Price: $230.00 | 4,020,120 | 195 | 113,100 | |||||||||
| Natera, Inc., Expiration: 5/15/2026; Exercise Price: $200.00 | 4,020,120 | 195 | 355,875 | |||||||||
| Newamsterdam Pharma Co. NV, Expiration: 5/15/2026; Exercise Price: $40.00 | 602,616 | 211 | 7,385 | |||||||||
| Restaurant Brands International, Inc., Expiration: 5/15/2026; Exercise Price: $85.00 | 709,984 | 88 | 4,840 | |||||||||
| Sea Ltd., Expiration: 5/15/2026; Exercise Price: $100.00 | 670,552 | 79 | 12,601 | |||||||||
| Taiwan Semiconductor Manufacturing Co. Ltd., Expiration: 5/15/2026; Exercise Price: $400.00 | 1,227,786 | 31 | 38,828 | |||||||||
| Teva Pharmaceutical Industries Ltd., Expiration: 5/15/2026; Exercise Price: $33.00 | 1,346,688 | 384 | 93,312 | |||||||||
| Westinghouse Air Brake Technologies Corp., Expiration: 5/15/2026; Exercise Price: $300.00 | 458,813 | 17 | 893 | |||||||||
| Woodward, Inc., Expiration: 5/15/2026; Exercise Price: $410.00 | 1,161,568 | 32 | 5,440 | |||||||||
| Total Call Options | 1,026,828 | |||||||||||
| Put Options - 0.0%(f) | ||||||||||||
| Docusign, Inc., Expiration: 5/15/2026; Exercise Price: $37.50 | 561,078 | 122 | 1,647 | |||||||||
| TOTAL PURCHASED OPTIONS (Cost $960,142) | 1,028,475 | |||||||||||
| SHORT-TERM INVESTMENTS - 27.6% | ||||||||||||
| Money Market Funds - 27.6% | Shares | Value | ||||||||||
| First American Government Obligations Fund - Class X, 3.58%(g)(h) | 5,638,411 | 5,638,411 | ||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $5,638,411) | 5,638,411 | |||||||||||
| TOTAL INVESTMENTS - 106.0% (Cost $20,683,355) | $ | 21,643,914 | ||||||||||
| Liabilities in Excess of Other Assets - (6.0)% | (1,220,705 | ) | ||||||||||
| TOTAL NET ASSETS - 100.0% | $ | 20,423,209 |
Percentages are stated as a percent of net assets.
| (a) | All or a portion of this security has been pledged as collateral for written options. As of April 30, 2026, the total value of securities pledged as collateral is $6,463,890. |
| (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 Contracts for further information. |
| (f) | Does not round to 0.1% or (0.1)%, as applicable. |
| (g) | The rate shown represents the 7-day annualized effective yield as of April 30, 2026. |
| (h) | Fair value of this security exceeds 25% of the Fund’s net assets. Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov. |
| VistaShares Target 15 DRUKMacro Distribution ETF | |||||
| Schedule of Written Options Contracts | |||||
| April 30, 2026 (Unaudited) | |||||
| WRITTEN OPTIONS - (6.3)%(a)(b) | Notional Amount | Contracts | Value | |||||||||
| Call Options - (4.7)% | ||||||||||||
| Alcoa Corp., Expiration: 5/15/2026; Exercise Price: $70.00 | $ | (529,457 | ) | (83 | ) | $ | (6,765 | ) | ||||
| Alphabet, Inc., Expiration: 5/15/2026; Exercise Price: $385.00 | (1,038,960 | ) | (27 | ) | (27,810 | ) | ||||||
| Alphabet, Inc., Expiration: 5/15/2026; Exercise Price: $330.00 | (1,038,960 | ) | (27 | ) | (150,592 | ) | ||||||
| Amazon.com, Inc., Expiration: 5/15/2026; Exercise Price: $250.00 | (1,537,348 | ) | (58 | ) | (99,760 | ) | ||||||
| BBB Foods, Inc., Expiration: 5/15/2026; Exercise Price: $40.00 | (627,800 | ) | (172 | ) | (6,450 | ) | ||||||
| Bloom Energy Corp., Expiration: 5/15/2026; Exercise Price: $300.00 | (765,072 | ) | (27 | ) | (44,145 | ) | ||||||
| Cogent Biosciences, Inc., Expiration: 5/15/2026; Exercise Price: $38.00 | (533,271 | ) | (149 | ) | (18,625 | ) | ||||||
| Coupang, Inc., Expiration: 5/15/2026; Exercise Price: $24.00 | (1,236,762 | ) | (619 | ) | (13,308 | ) | ||||||
| Entegris, Inc., Expiration: 5/15/2026; Exercise Price: $145.00 | (508,968 | ) | (36 | ) | (19,980 | ) | ||||||
| Insmed, Inc., Expiration: 5/15/2026; Exercise Price: $150.00 | (1,622,327 | ) | (119 | ) | (38,080 | ) | ||||||
| Lattice Semiconductor Corp., Expiration: 5/15/2026; Exercise Price: $115.00 | (586,944 | ) | (48 | ) | (64,080 | ) | ||||||
| MercadoLibre, Inc., Expiration: 5/15/2026; Exercise Price: $2,000.00 | (717,052 | ) | (4 | ) | (6,980 | ) | ||||||
| Natera, Inc., Expiration: 5/15/2026; Exercise Price: $220.00 | (4,020,120 | ) | (195 | ) | (175,500 | ) | ||||||
| Newamsterdam Pharma Co. NV, Expiration: 5/15/2026; Exercise Price: $35.00 | (602,616 | ) | (211 | ) | (10,550 | ) | ||||||
| Restaurant Brands International, Inc., Expiration: 5/15/2026; Exercise Price: $80.00 | (709,984 | ) | (88 | ) | (22,000 | ) | ||||||
| Sea Ltd., Expiration: 5/15/2026; Exercise Price: $95.00 | (670,552 | ) | (79 | ) | (20,145 | ) | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd., Expiration: 5/15/2026; Exercise Price: $380.00 | (1,227,786 | ) | (31 | ) | (73,548 | ) | ||||||
| Teva Pharmaceutical Industries Ltd., Expiration: 5/15/2026; Exercise Price: $31.00 | (1,346,688 | ) | (384 | ) | (159,360 | ) | ||||||
| Westinghouse Air Brake Technologies Corp., Expiration: 5/15/2026; Exercise Price: $280.00 | (458,813 | ) | (17 | ) | (4,335 | ) | ||||||
| Woodward, Inc., Expiration: 5/15/2026; Exercise Price: $390.00 | (1,161,568 | ) | (32 | ) | (10,640 | ) | ||||||
| Total Call Options | (972,653 | ) | ||||||||||
| Put Options - (1.6)% | ||||||||||||
| Docusign, Inc., Expiration: 5/15/2026; Exercise Price: $40.00 | (561,078 | ) | (122 | ) | (3,477 | ) | ||||||
| Insmed, Inc., Expiration: 5/15/2026; Exercise Price: $135.01 | (1,622,327 | ) | (119 | ) | (91,448 | ) | ||||||
| Natera, Inc., Expiration: 5/15/2026; Exercise Price: $200.01 | (4,020,120 | ) | (195 | ) | (227,779 | ) | ||||||
| Total Put Options | (322,704 | ) | ||||||||||
| TOTAL WRITTEN OPTIONS (Premiums received $1,313,707) | $ | (1,295,357 | ) | |||||||||
Percentages are stated as a percent of net assets.
| (a) | Exchange-traded. |
| (b) | 100 shares per contract. |