Volatility Premium Plus ETF (Consolidated)
Schedule of Investments
May 31, 2026 (Unaudited)

TOTAL INVESTMENTS – 0.0% (Cost $0)

          Value    
Money Market Deposit Account(a)(b) – 79.6%

9,763,370
Other Assets in Excess of Liabilities(c) - 20.4%
0.19101
$2,502,612.00
TOTAL NET ASSETS - 100.0%




$12,265,982.00


Percentages are stated as a percent of net assets.




(a)

Fair value of this security exceeds 25% of the Fund’s net assets.  Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov.
(b)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of May 31, 2026 was 3.15%.
(c)

Includes cash of $1,786,283 that is pledged as collateral for futures contracts.




Volatility Premium Plus ETF (Consolidated)
Schedule of Futures Contracts
May 31, 2026 (Unaudited)

Description

Contracts Sold

Expiration Date

Notional Value

Value / Unrealized Appreciation (Depreciation)
   CBOE VIX FUTURE Sep26

(112)

09/16/2026

    $        2,396,800

    $        189,012
   CBOE VIX FUTURE Oct26

(186)

10/21/2026

             4,115,120

             222,165
   CBOE VIX FUTURE Nov26

(186)

11/18/2026

             4,115,250

             129,746
   CBOE VIX FUTURE Dec26

(75)

12/16/2026

             1,648,130

             25,854
Net Unrealized Appreciation (Depreciation)



    $        –

    $        –

    $        566,777















Summary of Fair Value Disclosure as of May 31, 2026 (Unaudited)
 
Volatility Premium Plus ETF (Consolidated) (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 May 31, 2026:



Level 1

Level 2

Level 3

Total
Other Financial Instruments:







  Futures Contracts*
    $        566,777

    $        –

    $        –

    $        566,777
Total Other Financial Instruments
    $        566,777

    $        –

    $        –

    $        566,777

* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of May 31, 2026.

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