Motley Fool Value Factor ETF
Schedule of Investments
May 31, 2026 (Unaudited)

COMMON STOCKS - 99.5%

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Value  
Aerospace & Defense - 0.6%

Textron, Inc.

            467

    $        42,852






Air Freight & Logistics - 4.7%

FedEx Corp.

            852

             350,811






Automobile Components - 1.0%

BorgWarner, Inc.

            841

             60,401
Phinia, Inc.

            182

             14,061




             74,462






Banks - 0.2%

Axos Financial, Inc. (a)

            173

             15,035






Biotechnology - 2.3%

Biogen, Inc. (a)

            469

             91,924
BioMarin Pharmaceutical, Inc. (a)

            404

             23,145
Emergent BioSolutions, Inc. (a)

            442

             4,031
Exelixis, Inc. (a)

            937

             47,300




             166,400






Broadline Retail - 3.3%

Coupang, Inc. (a)

            4,837

             80,294
eBay, Inc.

            1,358

             148,389
Etsy, Inc. (a)

            279

             18,950




             247,633






Capital Markets - 1.0%

Affiliated Managers Group, Inc.

            67

             20,291
Donnelley Financial Solutions, Inc. (a)

            122

             4,842
FactSet Research Systems, Inc.

            75

             18,410
Houlihan Lokey, Inc.

            193

             27,341




             70,884






Consumer Finance - 0.7%

Bread Financial Holdings, Inc.

            349

             31,085
Nelnet, Inc. - Class A

            175

             22,850




             53,935






Consumer Staples Distribution & Retail - 2.5%

Maplebear, Inc. (a)

            1,425

             56,715
Sysco Corp.

            1,430

             108,408
United Natural Foods, Inc. (a)

            454

             23,313




             188,436






Distributors - 0.7%

LKQ Corp.

            1,794

             48,653






Diversified Consumer Services - 0.1%

Duolingo, Inc. (a)

            88

             9,800








Diversified Telecommunication Services - 0.1%

Bandwidth, Inc. - Class A (a)

            149

             9,680






Electronic Equipment, Instruments & Components - 0.3%

Zebra Technologies Corp. - Class A (a)

            92

             22,414






Entertainment - 4.9%

Walt Disney Co.

            3,555

             362,006






Financial Services - 5.8%

Block, Inc. (a)

            1,933

             146,367
Euronet Worldwide, Inc. (a)

            221

             16,018
Marqeta, Inc. - Class A (a)

            2,862

             11,620
PayPal Holdings, Inc.

            5,222

             233,684
WEX, Inc. (a)

            120

             17,395




             425,084






Food Products - 0.6%

Darling Ingredients, Inc. (a)

            329

             19,444
McCormick & Co., Inc.

            543

             25,722




             45,166






Health Care Equipment & Supplies - 2.5%

Align Technology, Inc. (a)

            207

             36,215
DexCom, Inc. (a)

            741

             54,641
Globus Medical, Inc. - Class A (a)

            335

             27,430
Solventum Corp. (a)

            916

             68,654




             186,940






Health Care Providers & Services - 9.8%

CVS Health Corp.

            4,936

             449,077
HCA Healthcare, Inc.

            605

             229,017
Progyny, Inc. (a)

            273

             6,978
Quest Diagnostics, Inc.

            213

             41,514




             726,586






Health Care Technology - 0.1%

Doximity, Inc. - Class A (a)

            478

             10,229






Hotels, Restaurants & Leisure - 5.9%

Airbnb, Inc. - Class A (a)

            1,171

             156,106
Booking Holdings, Inc.

            1,595

             267,051
Vail Resorts, Inc.

            86

             11,489




             434,646






Household Durables - 0.5%

NVR, Inc. (a)

            6

             36,629






Household Products - 0.2%

Spectrum Brands Holdings, Inc.

            191

             15,030






Insurance - 0.8%

CNA Financial Corp.

            1,285

             54,047
Trupanion, Inc. (a)

            128

             2,793




             56,840








Interactive Media & Services - 1.4%

Match Group, Inc.

            917

             33,131
Pinterest, Inc. - Class A (a)

            3,488

             69,935




             103,066






IT Services - 4.4%

Cognizant Technology Solutions Corp. - Class A

            1,684

             93,892
Gartner, Inc. (a)

            314

             50,931
GoDaddy, Inc. - Class A (a)

            511

             43,859
Kyndryl Holdings, Inc. (a)

            1,864

             23,244
Okta, Inc. (a)

            441

             54,362
Twilio, Inc. - Class A (a)

            308

             58,717




             325,005






Leisure Products - 0.3%

Hasbro, Inc.

            297

             25,592






Life Sciences Tools & Services - 1.0%

Illumina, Inc. (a)

            298

             48,562
Medpace Holdings, Inc. (a)

            53

             23,697




             72,259






Machinery - 1.0%

Blue Bird Corp. (a)

            60

             4,066
Middleby Corp. (a)

            153

             23,716
Oshkosh Corp.

            141

             18,330
Tennant Co.

            78

             6,717
Toro Co.

            202

             18,156




             70,985






Media - 0.7%

Magnite, Inc. (a)

            371

             5,317
PubMatic, Inc. - Class A (a)

            381

             4,450
Trade Desk, Inc. - Class A (a)

            1,954

             42,128




             51,895






Oil, Gas & Consumable Fuels - 9.9%

Chevron Corp.

            1,700

             310,182
EQT Corp.

            1,884

             103,488
Exxon Mobil Corp.

            2,169

             315,069
Vitesse Energy, Inc.

            237

             4,095




             732,834






Passenger Airlines - 0.4%

Alaska Air Group, Inc. (a)

            686

             31,570






Personal Care Products - 0.1%

elf Beauty, Inc. (a)

            122

             6,832






Pharmaceuticals - 4.8%

Bristol-Myers Squibb Co.

            6,162

             352,343






Professional Services - 0.4%

Paycom Software, Inc.

            196

             27,375






Real Estate Management & Development - 0.3%



Zillow Group, Inc. - Class C (a)

            702

             24,570






Residential REITs - 0.6%

Invitation Homes, Inc.

            1,505

             44,021






Semiconductors & Semiconductor Equipment - 0.3%

Cirrus Logic, Inc. (a)

            124

             21,074






Software - 14.2%

Adobe Systems, Inc. (a)

            1,350

             349,934
Blackbaud, Inc. (a)

            144

             4,419
BlackLine, Inc. (a)

            200

             5,880
Box, Inc. - Class A (a)

            617

             16,634
Docusign, Inc. (a)

            875

             45,955
HubSpot, Inc. (a)

            151

             33,315
Salesforce, Inc.

            1,732

             330,985
Varonis Systems, Inc. (a)

            363

             12,397
Workday, Inc. - Class A (a)

            895

             130,840
Zoom Communications, Inc. - Class A (a)

            1,141

             115,914




             1,046,273






Specialty Retail - 3.4%

CarMax, Inc. (a)

            809

             36,098
Chewy, Inc. - Class A (a)

            1,678

             37,822
Stitch Fix, Inc. - Class A (a)

            802

             2,855
Tractor Supply Co.

            1,209

             38,120
Ulta Beauty, Inc. (a)

            104

             52,920
Urban Outfitters, Inc. (a)

            454

             32,983
Williams-Sonoma, Inc.

            253

             51,503




             252,301






Textiles, Apparel & Luxury Goods - 3.4%

Crocs, Inc. (a)

            318

             37,737
NIKE, Inc. - Class B

            4,296

             198,604
Under Armour, Inc. - Class A (a)

            2,694

             15,814




             252,155






Wireless Telecommunication Services - 4.3%

T-Mobile US, Inc.

            1,681

             315,238
TOTAL COMMON STOCKS (Cost $7,363,933)

             7,355,539






TOTAL INVESTMENTS - 99.5% (Cost $7,363,933)

             7,355,539
Other Assets in Excess of Liabilities - 0.5%
0.00505
            37,331
TOTAL NET ASSETS - 100.0%




    $        7,392,870


Percentages are stated as a percent of net assets.




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




(a)

Non-income producing security.



Summary of Fair Value Disclosure as of May 31, 2026 (Unaudited)
 
Motley Fool Value Factor ETF 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 May 31, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Common Stocks
    $        7,355,539

    $        –

    $        –

    $        7,355,539
Total Investments
    $        7,355,539

    $        –

    $        –

    $        7,355,539

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