BURNEY U.S. FACTOR ROTATION ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
Shares  

Value  
COMMON STOCKS - 99.0%

Communication Services - 11.9%

Interactive Media & Services - 10.1%




Alphabet, Inc. - Class A

            93,873

$36,122,331 
Meta Platforms, Inc. - Class A

            28,087

17,186,716 




53,309,047 
Movies & Entertainment - 1.8%




Roku, Inc. (a)

            83,579

9,741,968 
Total Communication Services

63,051,015 





Consumer Discretionary - 10.6%

Apparel, Accessories & Luxury Goods - 1.2%




Ralph Lauren Corp.

            17,991

6,452,292 





Broadline Retail - 0.6%




Kohl's Corp.

            219,566

3,111,250 





Footwear - 0.4%




Deckers Outdoor Corp. (a)

            21,984

2,246,765 





Hotels, Resorts & Cruise Lines - 8.4%




Carnival Corp. (a)

            566,372

15,014,522 
Expedia Group, Inc.

            119,064

29,571,926 




44,586,448 
Total Consumer Discretionary

56,396,755 





Consumer Staples - 3.5%

Consumer Staples Merchandise Retail - 1.9%




Costco Wholesale Corp.

            2,585

2,622,560 
Dollar General Corp.

            41,001

4,751,196 
Target Corp.

            19,186

2,489,383 




9,863,139 
Food Distributors - 0.6%




Andersons, Inc.

            40,366

3,170,346 





Packaged Foods & Meats - 0.5%




Tyson Foods, Inc. - Class A

            42,389

2,715,863 





Soft Drinks & Non-alcoholic Beverages - 0.5%




Primo Brands Corp.

            130,085

2,651,132 
Total Consumer Staples

18,400,480 
1

BURNEY U.S. FACTOR ROTATION ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
Shares  

Value  
Energy - 1.2%

Oil & Gas Exploration & Production - 0.6%




Talos Energy, Inc. (a)

            199,846

$3,181,548 





Oil & Gas Storage & Transportation - 0.6%




TC Energy Corp.

            48,234

3,228,302 
Total Energy

6,409,850 





Financials - 16.3%

Asset Management & Custody Banks - 3.1%




Bank of New York Mellon Corp.

            21,541

2,894,464 
Northern Trust Corp.

            18,486

3,074,961 
State Street Corp.

            68,372

10,449,977 




16,419,402 
Consumer Finance - 3.8%




EZCORP, Inc. - Class A (a)

            150,295

4,926,670 
SLM Corp.

            556,543

12,845,013 
Synchrony Financial

            33,776

2,573,731 




20,345,414 
Investment Banking & Brokerage - 6.8%




Goldman Sachs Group, Inc.

            23,096

21,335,392 
Morgan Stanley

            16,272

3,101,280 
StoneX Group, Inc. (a)

            79,092

8,386,125 
Virtu Financial, Inc. - Class A

            61,307

3,044,506 




35,867,303 
Property & Casualty Insurance - 0.6%




Allstate Corp.

            15,534

3,374,917 





Regional Banks - 1.1%




First Horizon Corp.

            117,674

2,937,143 
Wintrust Financial Corp.

            17,122

2,578,059 




5,515,202 
Transaction & Payment Processing Services - 0.9%




WEX, Inc. (a)

            32,648

4,907,974 
Total Financials

86,430,212 





Health Care - 8.5%

Biotechnology - 6.7%




AnaptysBio, Inc. (a)

            43,316

2,847,161 
Bridgebio Pharma, Inc. (a)

            214,839

15,277,201 
Incyte Corp. (a)

            27,893

2,657,366 
Natera, Inc. (a)

            12,680

2,614,109 
PTC Therapeutics, Inc. (a)

            74,594

4,853,086 
Sarepta Therapeutics, Inc. (a)

            181,681

3,793,499 
2

BURNEY U.S. FACTOR ROTATION ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
Shares  

Value  
Travere Therapeutics, Inc. (a)

            81,126

$3,417,027 




35,459,449 
Health Care Equipment - 1.1%




Novocure Ltd. (a)

            211,669

3,219,486 
Omnicell, Inc. (a)

            61,926

2,564,975 




5,784,461 
Pharmaceuticals - 0.7%




Liquidia Corp. (a)

            95,078

3,728,008 
Total Health Care

44,971,918 





Industrials - 9.1%

Aerospace & Defense - 1.9%




HEICO Corp.

            18,003

4,859,370 
V2X, Inc. (a)

            76,745

5,204,078 




10,063,448 
Commercial Printing - 0.6%




Deluxe Corp.

            100,754

3,138,487 





Industrial Machinery & Supplies & Components - 0.9%




Parker-Hannifin Corp.

            2,648

2,408,144 
Watts Water Technologies, Inc. - Class A

            8,563

2,570,270 




4,978,414 
Passenger Airlines - 2.0%




Allegiant Travel Co. (a)

            40,944

3,097,004 
Copa Holdings SA - Class A

            40,231

4,653,922 
United Airlines Holdings, Inc. (a)

            29,183

2,626,470 




10,377,396 
Trading Companies & Distributors - 3.7%




AerCap Holdings NV

            136,847

19,461,012 
Total Industrials

48,018,757 





Information Technology - 27.1% (b)

Application Software - 1.6%




Autodesk, Inc. (a)

            10,702

2,536,374 
Palantir Technologies, Inc. - Class A (a)

            22,596

3,143,330 
Zoom Communications, Inc. - Class A (a)

            28,796

2,797,531 




8,477,235 
Communications Equipment - 4.3%




ADTRAN Holdings, Inc. (a)

            179,665

3,178,274 
Arista Networks, Inc. (a)

            114,309

19,742,307 




22,920,581 
Semiconductors - 16.5%




Advanced Micro Devices, Inc. (a)

            22,565

7,999,067 
Cirrus Logic, Inc. (a)

            130,475

21,277,863 
3

BURNEY U.S. FACTOR ROTATION ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
Shares  

Value  
Marvell Technology, Inc.

            21,462

$3,544,449 
Micron Technology, Inc.

            30,360

15,700,978 
NVIDIA Corp.

            194,028

38,722,168 




87,244,525 
Technology Hardware, Storage & Peripherals - 4.7%




Apple, Inc.

            92,194

25,016,842 
Total Information Technology

143,659,183 





Materials - 6.1%

Fertilizers & Agricultural Chemicals - 4.2%




CF Industries Holdings, Inc.

            177,966

22,103,377 





Gold Mining - 1.9%




Eldorado Gold Corp.

            331,047

10,292,251 
Total Materials

32,395,628 





Utilities - 4.7%

Electric Utilities - 2.0%




Edison International

            65,595

4,558,197 
PG&E Corp.

            380,147

6,318,043 




10,876,240 
Gas Utilities - 2.7%




UGI Corp.

            392,936

14,181,060 
Total Utilities

25,057,300 
TOTAL COMMON STOCKS (Cost $454,274,330)

524,791,098 





REAL ESTATE INVESTMENT TRUSTS - 1.0%

Real Estate - 1.0%

Retail REITs - 1.0%




Simon Property Group, Inc.

            26,645

5,427,853 
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,714,256)

5,427,853 





SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.1%
First American Government Obligations Fund - Class X, 3.58% (c)

            704,281

704,281 
TOTAL MONEY MARKET FUNDS (Cost $704,281)

704,281 





TOTAL INVESTMENTS - 100.1% (Cost $459,692,867)

$530,923,232 
Liabilities in Excess of Other Assets - (0.1)%
(648,282)
TOTAL NET ASSETS - 100.0%



$530,274,950 

Percentages are stated as a percent of net assets.
REIT - Real Estate Investment Trust
4

BURNEY U.S. FACTOR ROTATION ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)

(a)
Non-income producing security.
(b)
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.
(c)
The rate shown represents the 7-day annualized yield as of April 30, 2026.

The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.



5


BURNEY U.S. FACTOR ROTATION ETF

Summary of Fair Value Disclosure as of April 30, 2026 (Unaudited)
 
Burney U.S. Factor Rotation 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 April 30, 2026:
DESCRIPTION
LEVEL 1

LEVEL 2

LEVEL 3

TOTAL
Investments:







Common Stocks
$524,791,098 

$— 

$— 

$524,791,098 
Real Estate Investment Trusts5,427,853 — — 5,427,853 
Money Market Funds
704,281 

— 

— 

704,281 
Total Investments
$530,923,232 

$— 

$— 

$530,923,232 

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

During the fiscal period ended April 30, 2026, the Fund did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

6