Motley Fool Next Index ETF
Schedule of Investments
May 31, 2026 (Unaudited)

COMMON STOCKS - 99.7%

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Value  
Aerospace & Defense - 1.3%

AeroVironment, Inc. (a)

            785

    $        162,684
Textron, Inc.

            2,804

             257,295




             419,979






Air Freight & Logistics - 0.3%

GXO Logistics, Inc. (a)

            1,867

             93,555






Automobile Components - 0.9%

BorgWarner, Inc.

            3,262

             234,277
Phinia, Inc.

            601

             46,433
XPEL, Inc. (a)

            438

             20,026




             300,736






Banks - 0.7%

Axos Financial, Inc. (a)

            913

             79,349
Western Alliance Bancorp

            1,732

             137,954




             217,303






Beverages - 0.4%

Celsius Holdings, Inc. (a)

            4,204

             139,867






Biotechnology - 7.1%

AnaptysBio, Inc. (a)

            457

             25,441
Ardelyx, Inc. (a)

            3,899

             23,550
Beam Therapeutics, Inc. (a)

            1,599

             52,655
Biogen, Inc. (a)

            2,280

             446,880
BioMarin Pharmaceutical, Inc. (a)

            3,021

             173,073
Bridgebio Pharma, Inc. (a)

            3,028

             200,635
Cullinan Therapeutics, Inc. (a)

            941

             15,470
Editas Medicine, Inc. (a)

            1,527

             5,284
Emergent BioSolutions, Inc. (a)

            845

             7,706
Exelixis, Inc. (a)

            4,091

             206,514
First Tracks Biotherapeutics, Inc. (a)

            491

             7,836
Incyte Corp. (a)

            3,113

             301,152
Iovance Biotherapeutics, Inc. (a)

            6,714

             27,527
Kymera Therapeutics, Inc. (a)

            1,305

             106,253
Moderna, Inc. (a)

            6,141

             289,794
Neurocrine Biosciences, Inc. (a)

            1,542

             244,099
REGENXBIO, Inc. (a)

            797

             5,587
TG Therapeutics, Inc. (a)

            2,291

             86,921
Viking Therapeutics, Inc. (a)

            1,854

             60,700




             2,287,077






Broadline Retail - 0.6%

Etsy, Inc. (a)

            1,547

             105,072
Ollie's Bargain Outlet Holdings, Inc. (a)

            961

             78,447




             183,519






Building Products - 0.2%

Trex Co., Inc. (a)

            1,670

             69,138








Capital Markets - 5.5%

Affiliated Managers Group, Inc.

            422

             127,803
Cboe Global Markets, Inc.

            1,639

             546,705
Donnelley Financial Solutions, Inc. (a)

            408

             16,193
FactSet Research Systems, Inc.

            581

             142,618
Houlihan Lokey, Inc.

            1,100

             155,826
Interactive Brokers Group, Inc. - Class A

            7,111

             618,444
Jefferies Financial Group, Inc.

            3,289

             173,396




             1,780,985






Chemicals - 0.9%

Perimeter Solutions, Inc. (a)

            2,388

             77,085
RPM International, Inc.

            2,040

             216,179




             293,264






Commercial Services & Supplies - 3.7%

Copart, Inc. (a)

            15,056

             493,385
Rollins, Inc.

            7,625

             362,950
Veralto Corp.

            3,885

             319,464




             1,175,799






Construction & Engineering - 2.9%

MasTec, Inc. (a)

            1,262

             477,503
Sterling Infrastructure, Inc. (a)

            510

             439,028




             916,531






Consumer Finance - 1.7%

Bread Financial Holdings, Inc.

            689

             61,369
Nelnet, Inc. - Class A

            559

             72,989
SoFi Technologies, Inc. (a)

            20,464

             372,854
Upstart Holdings, Inc. (a)

            1,525

             51,530




             558,742






Consumer Staples Distribution & Retail - 2.0%

Casey's General Stores, Inc.

            584

             448,010
Maplebear, Inc. (a)

            3,928

             156,334
United Natural Foods, Inc. (a)

            972

             49,912




             654,256






Distributors - 0.3%

LKQ Corp.

            4,101

             111,219






Diversified Consumer Services - 0.3%

Duolingo, Inc. (a)

            723

             80,513






Diversified Telecommunication Services - 1.8%

AST SpaceMobile, Inc. (a)

            4,681

             530,872
Bandwidth, Inc. - Class A (a)

            501

             32,550




             563,422






Electronic Equipment, Instruments & Components - 1.3%

Cognex Corp.

            2,727

             179,573
IPG Photonics Corp. (a)

            690

             79,019
Zebra Technologies Corp. - Class A (a)

            658

             160,308




             418,900








Entertainment - 0.9%

Roku, Inc. (a)

            2,345

             305,272






Financial Services - 1.9%

Euronet Worldwide, Inc. (a)

            614

             44,503
Jack Henry & Associates, Inc.

            1,115

             151,997
Marqeta, Inc. - Class A (a)

            6,832

             27,738
Shift4 Payments, Inc. - Class A (a)

            1,320

             58,819
Toast, Inc. - Class A (a)

            9,557

             248,768
WEX, Inc. (a)

            551

             79,873




             611,698






Food Products - 1.2%

Darling Ingredients, Inc. (a)

            2,489

             147,100
Freshpet, Inc. (a)

            767

             39,577
McCormick & Co., Inc.

            4,237

             200,707
Vital Farms, Inc. (a)

            729

             7,297




             394,681






Ground Transportation - 2.0%

RXO, Inc. (a)

            2,730

             69,833
U-Haul Holding Co. (a)

            2,975

             172,223
XPO, Inc. (a)

            1,886

             404,076




             646,132






Health Care Equipment & Supplies - 3.8%

Align Technology, Inc. (a)

            1,118

             195,594
ClearPoint Neuro, Inc. (a)

            486

             6,158
DexCom, Inc. (a)

            5,955

             439,122
Globus Medical, Inc. - Class A (a)

            2,130

             174,404
Insulet Corp. (a)

            1,077

             156,100
Solventum Corp. (a)

            2,709

             203,040
TransMedics Group, Inc. (a)

            542

             36,422




             1,210,840






Health Care Providers & Services - 2.0%

Fulgent Genetics, Inc. (a)

            495

             8,979
Guardant Health, Inc. (a)

            2,040

             264,568
Progyny, Inc. (a)

            1,272

             32,512
Quest Diagnostics, Inc.

            1,724

             336,008




             642,067






Health Care Technology - 1.6%

Doximity, Inc. - Class A (a)

            2,892

             61,889
Veeva Systems, Inc. - Class A (a)

            2,537

             442,300




             504,189






Hotels, Restaurants & Leisure - 2.9%

Cava Group, Inc. (a)

            1,895

             147,166
Dutch Bros, Inc. - Class A (a)

            2,051

             118,958
Hyatt Hotels Corp. - Class A

            1,486

             269,501
Planet Fitness, Inc. - Class A (a)

            1,211

             64,801
Texas Roadhouse, Inc.

            1,040

             187,845
Vail Resorts, Inc.

            561

             74,949
Wingstop, Inc.

            440

             69,062




             932,282








Household Durables - 1.8%

Dream Finders Homes, Inc. - Class A (a)

            1,599

             24,721
Meritage Homes Corp.

            1,077

             70,263
NVR, Inc. (a)

            46

             280,821
TopBuild Corp. (a)

            448

             187,031




             562,836






Household Products - 0.1%

Spectrum Brands Holdings, Inc.

            358

             28,171






Industrial REITs - 0.4%

STAG Industrial, Inc.

            3,012

             114,065






Insurance - 2.3%

CNA Financial Corp.

            4,276

             179,849
Hagerty, Inc. - Class A (a)

            1,619

             16,546
Kinsale Capital Group, Inc.

            359

             109,412
Lemonade, Inc. (a)

            1,190

             69,020
Markel Group, Inc. (a)

            199

             361,302
Trupanion, Inc. (a)

            680

             14,838




             750,967






Interactive Media & Services - 2.7%

Match Group, Inc.

            3,704

             133,826
Pinterest, Inc. - Class A (a)

            9,949

             199,477
Reddit, Inc. - Class A (a)

            3,078

             541,728




             875,031






IT Services - 6.3%

Cognizant Technology Solutions Corp. - Class A

            7,626

             425,188
Gartner, Inc. (a)

            1,109

             179,880
GoDaddy, Inc. - Class A (a)

            2,110

             181,101
Kyndryl Holdings, Inc. (a)

            3,618

             45,116
MongoDB, Inc. (a)

            1,181

             396,285
Okta, Inc. (a)

            2,838

             349,840
Twilio, Inc. - Class A (a)

            2,413

             460,014




             2,037,424






Leisure Products - 0.6%

Hasbro, Inc.

            2,218

             191,125






Life Sciences Tools & Services - 2.2%

Illumina, Inc. (a)

            2,373

             386,704
Lifecore Biomedical, Inc. (a)

            646

             3,243
Medpace Holdings, Inc. (a)

            445

             198,964
Repligen Corp. (a)

            867

             107,465




             696,376






Machinery - 1.9%

Blue Bird Corp. (a)

            514

             34,834
Middleby Corp. (a)

            769

             119,202
RBC Bearings, Inc. (a)

            504

             288,268
Tennant Co.

            290

             24,972
Toro Co.

            1,544

             138,775




             606,051






Media - 1.2%



Boston Omaha Corp. - Class A (a)

            518

             6,672
Magnite, Inc. (a)

            2,255

             32,314
New York Times Co. - Class A

            2,555

             192,161
PubMatic, Inc. - Class A (a)

            741

             8,655
Trade Desk, Inc. - Class A (a)

            7,394

             159,415




             399,217






Metals & Mining - 0.6%

MP Materials Corp. (a)

            2,919

             188,859






Oil, Gas & Consumable Fuels - 0.0% (b)

Vitesse Energy, Inc.

            633

             10,938






Passenger Airlines - 0.3%

Alaska Air Group, Inc. (a)

            1,851

             85,183






Personal Care Products - 0.2%

elf Beauty, Inc. (a)

            936

             52,416






Pharmaceuticals - 0.7%

Axsome Therapeutics, Inc. (a)

            787

             184,536
Nektar Therapeutics (a)

            455

             29,520




             214,056






Professional Services - 1.2%

Paycom Software, Inc.

            826

             115,367
SS&C Technologies Holdings, Inc.

            3,817

             257,724




             373,091






Real Estate Management & Development - 1.1%

CoStar Group, Inc. (a)

            6,647

             214,033
Zillow Group, Inc. - Class C (a)

            3,802

             133,070




             347,103






Residential REITs - 0.9%

Invitation Homes, Inc.

            9,596

             280,683






Semiconductors & Semiconductor Equipment - 6.9%

Astera Labs, Inc. (a)

            2,731

             936,323
Cirrus Logic, Inc. (a)

            848

             144,118
Enphase Energy, Inc. (a)

            2,132

             145,743
First Solar, Inc. (a)

            1,721

             527,986
Impinj, Inc. (a)

            495

             74,745
SiTime Corp. (a)

            448

             318,170
Universal Display Corp.

            728

             67,063




             2,214,148






Software - 12.0%

Appfolio, Inc. - Class A (a)

            567

             91,383
Appian Corp. - Class A (a)

            1,160

             27,144
Blackbaud, Inc. (a)

            718

             22,035
BlackLine, Inc. (a)

            951

             27,959
Box, Inc. - Class A (a)

            2,172

             58,557
Braze, Inc. - Class A (a)

            1,861

             47,697
Docusign, Inc. (a)

            3,009

             158,033
Fair Isaac Corp. (a)

            371

             463,969


Figma, Inc. - Class A (a)

            8,403

             214,276
Gitlab, Inc. - Class A (a)

            2,839

             88,151
HubSpot, Inc. (a)

            849

             187,315
Life360, Inc. (a)

            1,855

             78,819
Manhattan Associates, Inc. (a)

            938

             140,747
Nutanix, Inc. - Class A (a)

            4,154

             216,299
Q2 Holdings, Inc. (a)

            965

             45,693
Rubrik, Inc. - Class A (a)

            3,192

             250,987
Samsara, Inc. - Class A (a)

            9,108

             318,689
ServiceTitan, Inc. - Class A (a)

            1,528

             110,566
Tyler Technologies, Inc. (a)

            672

             210,437
Unity Software, Inc. (a)

            6,695

             203,997
Varonis Systems, Inc. (a)

            1,856

             63,382
Zoom Communications, Inc. - Class A (a)

            4,806

             488,242
Zscaler, Inc. (a)

            2,542

             355,194




             3,869,571






Specialty Retail - 6.1%

Camping World Holdings, Inc. - Class A

            1,013

             7,425
CarMax, Inc. (a)

            2,330

             103,965
Chewy, Inc. - Class A (a)

            6,300

             142,002
Five Below, Inc. (a)

            875

             198,940
GameStop Corp. - Class A (a)

            7,076

             149,870
RH (a)

            295

             43,805
Stitch Fix, Inc. - Class A (a)

            2,229

             7,935
Tractor Supply Co.

            8,159

             257,253
Ulta Beauty, Inc. (a)

            718

             365,354
Urban Outfitters, Inc. (a)

            1,471

             106,868
Warby Parker, Inc. - Class A (a)

            2,014

             49,383
Wayfair, Inc. - Class A (a)

            2,102

             151,891
Williams-Sonoma, Inc.

            1,881

             382,915




             1,967,606






Textiles, Apparel & Luxury Goods - 0.4%

Crocs, Inc. (a)

            802

             95,173
Under Armour, Inc. - Class A (a)

            8,103

             47,565




             142,738






Trading Companies & Distributors - 1.6%

Watsco, Inc.

            605

             222,096
WESCO International, Inc.

            785

             283,518




             505,614






Transportation Infrastructure - 0.0% (b)

Sky Harbour Group Corp. (a)

            531

             4,986
TOTAL COMMON STOCKS (Cost $29,146,965)

             32,030,221






TOTAL INVESTMENTS - 99.7% (Cost $29,146,965)

             32,030,221
Other Assets in Excess of Liabilities - 0.3%
0.00275
            88,256
TOTAL NET ASSETS - 100.0%




    $        32,118,477


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.
(b)

Represents less than 0.05% of net assets.

















Summary of Fair Value Disclosure as of May 31, 2026 (Unaudited)
 
Motley Fool Next Index 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
    $        32,030,221

    $        –

    $        –

    $        32,030,221
Total Investments
    $        32,030,221

    $        –

    $        –

    $        32,030,221

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