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

COMMON STOCKS - 99.6%

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Value  
Aerospace & Defense - 11.6%

AeroVironment, Inc. (a)

            28

    $        5,803
ATI, Inc. (a)

            385

             67,437
HEICO Corp.

            87

             30,292
Hexcel Corp.

            100

             8,979
Howmet Aerospace, Inc.

            781

             201,693
Huntington Ingalls Industries, Inc.

            72

             22,188
Kratos Defense & Security Solutions, Inc. (a)

            463

             29,692
L3Harris Technologies, Inc.

            288

             90,772
Lockheed Martin Corp.

            218

             115,638
Moog, Inc. - Class A

            55

             19,798
Northrop Grumman Corp.

            165

             93,007
Rocket Lab Corp. (a)

            1,662

             238,464
RTX Corp.

            2,183

             392,198
Textron, Inc.

            163

             14,957




             1,330,918






Air Freight & Logistics - 1.9%

CH Robinson Worldwide, Inc.

            235

             41,983
FedEx Corp.

            413

             170,053
GXO Logistics, Inc. (a)

            128

             6,414




             218,450






Automobile Components - 0.2%

BorgWarner, Inc.

            284

             20,397
Phinia, Inc.

            41

             3,168
XPEL, Inc. (a)

            10

             457




             24,022






Automobiles - 4.4%

Tesla, Inc. (a)

            1,151

             501,594






Banks - 0.4%

Axos Financial, Inc. (a)

            35

             3,042
Truist Financial Corp.

            922

             44,449




             47,491






Beverages - 0.6%

Monster Beverage Corp. (a)

            781

             68,790






Biotechnology - 4.5%

Amgen, Inc.

            506

             170,416
AnaptysBio, Inc. (a)

            86

             4,788
Biogen, Inc. (a)

            153

             29,988
Bridgebio Pharma, Inc. (a)

            365

             24,185
Cullinan Therapeutics, Inc. (a)

            57

             937
Emergent BioSolutions, Inc. (a)

            62

             565
Exelixis, Inc. (a)

            163

             8,228
First Tracks Biotherapeutics, Inc. (a)

            95

             1,516
Gilead Sciences, Inc.

            1,658

             222,885
Incyte Corp. (a)

            217

             20,993
Kymera Therapeutics, Inc. (a)

            205

             16,691


Moderna, Inc. (a)

            379

             17,885




             519,077






Capital Markets - 2.7%

Affiliated Managers Group, Inc.

            19

             5,754
Cboe Global Markets, Inc.

            60

             20,014
Goldman Sachs Group, Inc.

            244

             250,237
Interactive Brokers Group, Inc. - Class A

            315

             27,395




             303,400






Chemicals - 0.1%

Perimeter Solutions, Inc. (a)

            253

             8,167






Communications Equipment - 3.0%

Arista Networks, Inc. (a)

            1,520

             242,394
Ubiquiti, Inc.

            175

             102,176




             344,570






Construction & Engineering - 3.8%

Comfort Systems USA, Inc.

            114

             208,416
EMCOR Group, Inc.

            82

             67,799
MasTec, Inc. (a)

            205

             77,566
Sterling Infrastructure, Inc. (a)

            95

             81,780




             435,561






Consumer Finance - 0.0% (b)

Bread Financial Holdings, Inc.

            35

             3,117






Consumer Staples Distribution & Retail - 0.5%

Casey's General Stores, Inc.

            38

             29,151
Sysco Corp.

            305

             23,122
United Natural Foods, Inc. (a)

            74

             3,800




             56,073






Diversified Telecommunication Services - 0.8%

AST SpaceMobile, Inc. (a)

            782

             88,687






Electronic Equipment, Instruments & Components - 6.6%

Cognex Corp.

            240

             15,804
Coherent Corp. (a)

            650

             234,955
Corning, Inc.

            2,737

             495,835
IPG Photonics Corp. (a)

            84

             9,620




             756,214






Food Products - 0.1%

Darling Ingredients, Inc. (a)

            125

             7,388






Ground Transportation - 0.7%

Norfolk Southern Corp.

            151

             46,049
XPO, Inc. (a)

            150

             32,137




             78,186






Health Care Equipment & Supplies - 0.1%

Globus Medical, Inc. - Class A (a)

            74

             6,059
iRadimed Corp.

            11

             997




             7,056








Health Care Providers & Services - 1.4%

Guardant Health, Inc. (a)

            226

             29,310
HCA Healthcare, Inc.

            176

             66,623
McKesson Corp.

            79

             58,653




             154,586






Health Care REITs - 0.2%

Ventas, Inc.

            331

             27,943






Hotels, Restaurants & Leisure - 0.6%

Hyatt Hotels Corp. - Class A

            55

             9,975
Lindblad Expeditions Holdings, Inc. (a)

            67

             1,538
Marriott International, Inc. - Class A

            164

             61,598




             73,111






Household Durables - 0.1%

TopBuild Corp. (a)

            17

             7,097






Household Products - 0.0% (b)

Spectrum Brands Holdings, Inc.

            13

             1,023






Insurance - 0.0% (b)

Lemonade, Inc. (a)

            65

             3,770






Interactive Media & Services - 4.8%

Alphabet, Inc. - Class C

            1,462

             550,341






Leisure Products - 0.1%

Hasbro, Inc.

            142

             12,236






Machinery - 2.2%

Blue Bird Corp. (a)

            25

             1,694
Cummins, Inc.

            250

             161,658
Oshkosh Corp.

            87

             11,310
RBC Bearings, Inc. (a)

            39

             22,306
Toro Co.

            76

             6,831
Westinghouse Air Brake Technologies Corp.

            177

             46,225




             250,024






Media - 0.1%

New York Times Co. - Class A

            108

             8,123






Metals & Mining - 0.1%

MP Materials Corp. (a)

            260

             16,822






Oil, Gas & Consumable Fuels - 7.5%

Chevron Corp.

            2,075

             378,604
EQT Corp.

            571

             31,365
Exxon Mobil Corp.

            2,636

             382,905
Kinder Morgan, Inc.

            2,294

             71,298




             864,172






Pharmaceuticals - 5.3%

Axsome Therapeutics, Inc. (a)

            59

             13,834


Bristol-Myers Squibb Co.

            1,460

             83,483
Eli Lilly & Co.

            458

             506,090




             603,407






Semiconductors & Semiconductor Equipment - 34.6% (c)

Advanced Micro Devices, Inc. (a)

            2,142

             1,105,486
Broadcom, Inc.

            1,337

             597,332
Cirrus Logic, Inc. (a)

            64

             10,877
First Solar, Inc. (a)

            103

             31,599
Intel Corp. (a)

            9,277

             1,063,886
Lam Research Corp.

            1,845

             587,042
NVIDIA Corp.

            2,445

             516,237
SiTime Corp. (a)

            62

             44,033




             3,956,492






Specialty Retail - 0.6%

Five Below, Inc. (a)

            125

             28,420
Ulta Beauty, Inc. (a)

            29

             14,757
Wayfair, Inc. - Class A (a)

            119

             8,599
Williams-Sonoma, Inc.

            69

             14,046




             65,822






Textiles, Apparel & Luxury Goods - 0.0% (b)

Under Armour, Inc. - Class A (a)

            246

             1,444
TOTAL COMMON STOCKS (Cost $9,435,885)

             11,395,174






TOTAL INVESTMENTS - 99.6% (Cost $9,435,885)

             11,395,174
Other Assets in Excess of Liabilities - 0.4%
0.00437
            50,036
TOTAL NET ASSETS - 100.0%




    $        11,445,210


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.
(c)

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 that industry or sector.

















Summary of Fair Value Disclosure as of May 31, 2026 (Unaudited)
 
Motley Fool Momentum 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
    $        11,395,174

    $        –

    $        –

    $        11,395,174
Total Investments
    $        11,395,174

    $        –

    $        –

    $        11,395,174

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