ANFIELD DYNAMIC FIXED INCOME ETF
SCHEDULE OF INVESTMENTS (Unaudited)
April 30, 2026
 
Shares             Fair Value
    EXCHANGE-TRADED FUNDS — 81.9%      
    FIXED INCOME - 81.9%      
82,209   iShares iBoxx $ Investment Grade Corporate Bond       $ 8,948,450
61,749   iShares iBoxx High Yield Corporate Bond ETF         4,963,385
167,347   iShares MBS ETF         15,861,148
308,026   iShares U.S. Treasury Bond ETF         7,029,153
101,317   Janus Henderson AAA CLO ETF         5,118,535
             

41,920,671

               
    TOTAL EXCHANGE-TRADED FUNDS (Cost $42,764,254)    

  41,920,671

               
Principal Amount ($)       Spread Coupon Rate (%) Maturity Fair Value
    CORPORATE BONDS — 11.4%      
    ASSET MANAGEMENT — 1.7%      
300,000   Ares Capital Corporation   5.5000 09/01/30   296,115
300,000   Bain Capital Specialty Finance, Inc.   5.9500 03/15/30   294,225
300,000   Blackstone Secured Lending Fund   5.3000 06/30/30   292,581
              882,921
    AUTOMOTIVE — 1.4%      
200,000   Ford Motor Credit Company, LLC   5.8000 03/08/29   202,794
100,000   General Motors Financial Company, Inc.(a) H15T5Y +4.997% 5.7000 Perpetual 98,315
200,000   Nissan Motor Acceptance Company, LLC(b)   5.5500 09/13/29   195,918
200,000   Nissan Motor Acceptance Company, LLC(b)   6.1250 09/30/30   197,078
              694,105
    BANKING — 2.8%      
300,000   Bank of America Corporation(a) H15T5Y + 2.760% 4.3750 Perpetual   297,542
200,000   Bank of Nova Scotia (The)(a) H15T5Y + 2.613% 3.6250 10/27/81   197,407
200,000   Citigroup, Inc.  Series Y(a) H15T5Y + 3.000% 4.1500 Perpetual   198,707
300,000   M&T Bank Corporation(a) H15T5Y + 2.679% 3.5000 Perpetual   295,870
275,000   PNC Financial Services Group, Inc. (The)(a) H15T5Y + 2.595% 3.4000 Perpetual   271,646
200,000   US Bancorp(a) SOFR + 2.914% 5.3000 Perpetual   199,401
              1,460,573
    COMMERCIAL SUPPORT SERVICES — 0.3%      
175,000   Aramark Services, Inc.(b)   5.0000 02/01/28   174,741
 
 

 

ANFIELD DYNAMIC FIXED INCOME ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
April 30, 2026
 
Principal Amount ($)       Spread Coupon Rate (%) Maturity Fair Value
    CORPORATE BONDS — 11.4% (Continued)      
    ELECTRIC UTILITIES — 1.2%      
300,000   American Electric Power Company, Inc.(a) H15T5Y + 2.675% 3.8750 02/15/62 $ 295,666
300,000   Duke Energy Corporation(a) H15T5Y + 2.321% 3.2500 01/15/82   293,748
              589,414
    ENTERTAINMENT CONTENT — 0.4%      
200,000   Univision Communications, Inc.(b)   4.5000 05/01/29   190,893
             
    LEISURE FACILITIES & SERVICES — 1.4%      
200,000   International Game Technology plc(b)   5.2500 01/15/29   199,222
175,000   Light & Wonder International Inc(b)   7.5000 09/01/31   182,451
200,000   Penn National Gaming, Inc.(b)   4.1250 07/01/29   190,425
175,000   Station Casinos, LLC(b)   4.5000 02/15/28   172,586
              744,684
    OIL & GAS PRODUCERS — 0.6%      
300,000   Enbridge, Inc.(a) US0003M + 3.641% 6.2500 03/01/78   301,498
             
    SPECIALTY FINANCE — 1.0%      
300,000   Ally Financial, Inc.  Series B(a) H15T5Y + 3.868% 4.7000 Perpetual   299,610
200,000   OneMain Finance Corporation   5.3750 11/15/29   197,193
              496,803
    TRANSPORTATION & LOGISTICS — 0.6%      
300,000   United Airlines, Inc.(b)   4.6250 04/15/29   296,278
             
  TOTAL CORPORATE BONDS (Cost $5,832,464)    

5,831,910

 

 

 

 

 

 

          
 
 

 

ANFIELD DYNAMIC FIXED INCOME ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
April 30, 2026
 
Principal Amount ($)         Coupon Rate (%) Maturity Fair Value
    U.S. GOVERNMENT & AGENCIES — 5.8%      
    U.S. TREASURY BILLS — 5.8%      
3,000,000   United States Treasury Bill(c)   3.5600 06/09/26

$ 2,988,341

  TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,988,374)    

2,988,341

             
    TOTAL INVESTMENTS - 99.1% (Cost $51,585,092)     $ 50,740,922
    OTHER ASSETS IN EXCESS OF LIABILITIES- 0.9%    

446,023

    NET ASSETS - 100.0%        

$ 51,186,945

           
OPEN FUTURES CONTRACTS        
Number of Contracts   Open Long Futures Contracts   Broker Expiration Notional Amount(d) Value and Unrealized Depreciation
7   CBOT 10 Year US Treasury Note Interactive Broker 06/22/2026 $ 774,156 $ (13,641)
13   CBOT 2 Year US Treasury Note Future Interactive Broker 07/01/2026   2,692,625   (12,602)
17   CBOT 5 Year US Treasury Note Interactive Broker 07/01/2026   1,833,211   (28,687)
12   CBOT US Treasure Bond Futures Interactive Broker 06/22/2026   1,354,125   (50,156)
    TOTAL FUTURES CONTRACTS  

$ (105,086)

         
           
               
 

 

 

 

CLO  - Collateralized Loan Obligation
ETF  - Exchange-Traded Fund
LLC  - Limited Liability Company
PLC  - Public Limited Company
   
H15T5Y US Treasury Yield Curve Rate T Note Constant Maturity 5 Year
SOFR United States SOFR Secured Overnight Financing Rate
US0003M ICE LIBOR USD 3 Month
   
 

 

 

 

(a) Variable rate security; the rate shown represents the rate on April 30, 2026.
(b) Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of April 30, 2026, the total market value of 144A securities is $1,799,592, or 3.5% of net assets.
(c) Zero coupon bond.
(d) The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based.  Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts.  Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments.  The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.