Portfolio of Investments June 30, 2026 (Unaudited)

Rareview Dynamic Fixed Income ETF

 

Shares      Fair Value ($) 
Closed-End Funds — 89.9%     
 263,270   Aberdeen Asia-Pacific Income Fund, Inc.   3,872,702 
 61,571   AllianceBernstein National Municipal Income Fund, Inc.   702,525 
 201,234   Allspring Multi-Sector Income Fund   1,853,365 
 220,501   BlackRock Core Bond Trust   2,021,994 
 452,806   BlackRock Corporate High Yield Fund, Inc.   3,876,019 
 420,186   BlackRock Credit Allocation Income Trust   4,294,301 
 162,069   BlackRock Multi-Sector Income Trust   2,029,104 
 15,369   BlackRock MuniHoldings California Quality Fund, Inc.   168,905 
 268,998   BlackRock MuniHoldings Fund, Inc.   3,201,076 
 157,237   BlackRock MuniYield Quality Fund III, Inc.   1,746,903 
 184,963   BlackRock MuniYield Quality Fund, Inc.   2,145,571 
 56,424   BlackRock Taxable Municipal Bond Trust   912,376 
 179,226   BrandywineGLOBAL Global Income Opportunities Fund, Inc.   1,423,055 
 277,726   Brookfield Real Assets Income Fund, Inc.   3,577,111 
 145,557   Cohen & Steers Limited Duration Preferred and Income Fund, Inc.   3,079,986 
 27,393   Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund   525,398 
 1,045,398   Credit Suisse High Yield Credit Fund   1,860,808 
 166,033   DoubleLine Income Solutions Fund   1,836,325 
 227,782   DoubleLine Yield Opportunities Fund   3,204,893 
 183,327   Eaton Vance Municipal Bond Fund   1,825,937 
 133,367   First Trust Intermediate Duration Preferred & Income Fund   2,423,278 
 198,863   KKR Income Opportunities Fund   2,239,197 
 312,755   Morgan Stanley Emerging Markets Debt Fund, Inc.   2,283,112 
 1,048,147   Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.   6,163,104 
 167,511   Neuberger Municipal Fund, Inc.   1,767,241 
 98,718   PIMCO Dynamic Income Strategy Fund   2,055,309 
 115,499   PIMCO Municipal Income Fund II   878,947 
 307,541   TCW Strategic Income Fund, Inc.   1,387,010 
 605,008   Templeton Emerging Markets Income Fund   4,077,754 
 311,012   Western Asset Emerging Markets Debt Fund, Inc.   3,340,269 
 903,653   Western Asset High Income Opportunity Fund, Inc.   3,289,297 
 82,810   Western Asset Managed Municipals Fund, Inc.   862,880 
Total Closed-End Funds (Cost $74,256,393)   74,925,752 
Exchange-Traded Funds — 8.8%     
 98,270   Angel Oak Income ETF   2,042,051 
 52,830   Rareview Government Money Market ETF(a)   5,300,962 
Total Exchange-Traded Funds (Cost $7,331,030)   7,343,013 
           
Purchased Options Contracts — 0.4%(b)     
Total Purchased Options Contracts (Cost $354,581)   328,900 
           
Total Investments — 99.1% (Cost $81,942,004)   82,597,665 
Net other assets (liabilities) — 0.9%   769,565 
Net Assets — 100.0%   83,367,230 

 

(a)Affiliated security
(b)See Purchased Options Contracts

 

ETF — Exchange-Traded Fund

PIMCO — Pacific Investment Management Company

 

 

 

 

Portfolio of Investments (continued) June 30, 2026 (Unaudited)

Rareview Dynamic Fixed Income ETF

 

Futures Contracts

 

At June 30, 2026, the Fund’s open futures contracts were as follows:

 

Futures Contracts Purchased

 

Description  Number
of
Contracts		   Expiration
Date		  Notional
Amount
(000)($)(a)		   Value ($)   Unrealized
Appreciation
(Depreciation) ($)		 
Brazil Real Futures   124   6/30/26   2,441    2,395,432    (45,714)
                      (45,714)

 

 

Written Options Contracts           
Exchange-traded options on future contracts written as of June 30, 2026 were as follows:           
            
Description  Put/Call    Number
of
Contracts		    Notional Amount (000)($)(a)    Premiums
Received
($)		    Strike
Price ($)		   Expiration Date   Value ($) 
3 Month SOFR Options  Call    792    191,441    59,352    96.69   12/11/26   (69,300)
3 Month SOFR Options  Call    728    176,313    120,404    96.88   3/12/27   (131,950)
(Total Premiums Received $179,756)                              (201,250)

 

Purchased Options Contracts

 

Exchange-traded options on futures contracts purchased as of June 30, 2026 were as follows:

 

Description  Put/Call    Number
of
Contracts		    Notional Amount (000)($)(a)    Cost ($)    Strike
Price ($)		   Expiration Date   Value ($) 
3 Month SOFR Options  Call    792    190,699    149,933    96.31   12/11/26   128,700 
3 Month SOFR Options  Call    728    175,630    204,648    96.50   3/12/27   200,200 
(Total Cost $354,581)                              328,900 

  

(a)Notional amount is expressed as the number of contracts multiplied by contract size multiplied by the strike price of the underlying asset.

 

 

 

 

Portfolio of Investments June 30, 2026 (Unaudited)

Rareview Tax Advantaged Income ETF

 

Shares      Fair Value ($) 
Closed-End Funds — 97.7%     
 103,683   AllianceBernstein National Municipal Income Fund, Inc.   1,183,023 
 84,946   BlackRock MuniHoldings California Quality Fund, Inc.   933,557 
 264,558   BlackRock MuniHoldings Fund, Inc.   3,148,240 
 220,336   BlackRock MuniYield Quality Fund III, Inc.   2,447,933 
 210,024   BlackRock MuniYield Quality Fund, Inc.   2,436,278 
 203,552   Eaton Vance Municipal Bond Fund   2,027,378 
 222,819   Neuberger Municipal Fund, Inc.   2,350,741 
 38,814   NYLI MacKay DefinedTerm Muni Opportunities Fund   601,617 
 114,166   PIMCO Municipal Income Fund II   868,803 
 184,641   Western Asset Managed Municipals Fund, Inc.   1,923,959 
Total Closed-End Funds (Cost $17,333,615)   17,921,529 
           
Purchased Options Contracts — 0.4%(a)     
Total Purchased Options Contracts (Cost $72,871)   76,962 
           
Total Investments — 98.1% (Cost $17,406,486)   17,998,491 
Net other assets (liabilities) — 1.9%   348,528 
Net Assets — 100.0%   18,347,019 

 

(a)See Purchased Options Contracts

 

NYLI — New York Life Investments

PIMCO — Pacific Investment Management Company

 

Written Options Contracts

 

Exchange-traded options on future contracts written as of June 30, 2026 were as follows:

 

Description  Put/Call    Number
of
Contracts		    Notional Amount (000)($)(a)    Premiums
Received
($)		    Strike Price ($)   Expiration Date   Value ($) 
3 Month SOFR Options  Call    169    40,850    12,378    96.69   12/11/26   (14,788)
3 Month SOFR Options  Call    180    43,594    23,308    96.88   3/12/27   (32,625)
(Total Premiums Received $35,686)                              (47,413)

 

Purchased Options Contracts

Exchange-traded options on futures contracts purchased as of June 30, 2026 were as follows:

 

Description  Put/Call    Number
of
Contracts		    Notional Amount (000)($)(a)    Cost ($)    Strike Price ($)   Expiration Date   Value ($) 
3 Month SOFR Options  Call    169    40,692    30,929    96.31   12/11/26   27,462 
3 Month SOFR Options  Call    180    43,425    41,942    96.50   3/12/27   49,500 
(Total Cost $72,871)                              76,962 

  

(a)Notional amount is expressed as the number of contracts multiplied by contract size multiplied by the strike price of the underlying asset.

 

 

 

 

Portfolio of Investments June 30, 2026 (Unaudited)

Rareview Systematic Equity ETF

 

Shares      Fair Value ($) 
Exchange-Traded Funds — 164.0%     
 26,341   Invesco QQQ Trust Series 1 ETF(a)   19,397,512 
 225,755   Rareview Government Money Market ETF(b)(c)   22,652,257 
 338,468   Vanguard FTSE Developed Markets ETF(d)   24,115,845 
 158,809   Vanguard FTSE Emerging Markets ETF   9,479,309 
 49,439   Vanguard S&P 500 ETF(e)   33,955,200 
 32,840   Vanguard Small-Cap ETF   9,954,461 
Total Exchange-Traded Funds (Cost $93,978,189)   119,554,584 
           
Total Investments — 164.0% (Cost $93,978,189)   119,554,584 
Net other assets (liabilities) — (64.0%)   (46,662,810)
Net Assets — 100.0%   72,891,774 

 

(a) As of June 30, 2026, investment is 26.6% of the Fund’s net assets.
(b) As of June 30, 2026, investment is 31.1% of the Fund’s net assets.  
(c) Affiliated security
(d) As of June 30, 2026, investment is 33.1% of the Fund’s net assets.
(e) As of June 30, 2026, investment is 46.6% of the Fund’s net assets.  

 

ETF — Exchange-Traded Fund

FTSE — Financial Times Stock Exchange

S&P — Standard and Poor’s

 

 

 

 

Portfolio of Investments June 30, 2026 (Unaudited)

Rareview Total Return Bond ETF

 

Face Amount ($)      Fair Value ($) 

 Asset-Backed Securities — 1.0%

     
 100,000   Aligned Data Centers Issuer LLC Series 2021-1A Class A2 1.94%, 08/15/2046   99,674 
 60,000   Carmax Auto Owner Trust Series 2022-3 Class C 4.98%, 02/15/2028   60,097 
 150,000   DataBank Issuer II LLC Series 2025-1A Class A2 5.18%, 09/27/2055   147,036 
 61,226   Ford Credit Auto Owner Trust Series 2024-A Class A3 5.09%, 12/15/2028   61,516 
 215,000   Verizon Master Trust Series 2024-3 Class A1A 5.34%, 04/22/2030   216,819 
Total Asset-Backed Securities (Cost $583,169)   585,142 
           
Collateralized Mortgage Obligations — 7.3%     
 141,390   Angel Oak Mortgage Trust Series 2021-7 Class A1 1.98%, 10/25/2066   121,942 
 123,551   BRAVO Residential Funding Trust Series 2024-NQM4 Class A1A 4.35%, 01/25/2060   121,911 
 225,000   Chase Home Lending Mortgage Trust Series 2024-7 Class A7 6.00%, 06/25/2055   225,712 
 97,627   Chase Home Lending Mortgage Trust Series 2024-9 Class A7 5.50%, 09/25/2055   96,941 
 237,938   CIM Trust Series 2021-INV1 Class A29 2.50%, 07/01/2051   194,143 
 210,440   CITIGROUP MORTGAGE LOAN TRUST 2021-J1 Series 2021-J1 Class B3W 2.61%, 04/25/2051   174,642 
 10,181   COLT Mortgage Loan Trust Series 2020-2R Class A1 1.33%, 10/26/2065   9,689 
 85,250   COLT Mortgage Loan Trust Series 2021-HX1 Class A1 1.11%, 10/25/2066   73,235 
 64,730   Flagstar Mortgage Trust Series 2021-4 Class A5 2.50%, 06/01/2051(a)   57,530 
 106,898   GCAT Trust Series 2021-NQM5 Class A1 1.26%, 07/25/2066   89,670 
 90,008   GS Mortgage-Backed Securities Trust Series 2021-PJ8 Class A8 2.50%, 01/25/2052   80,248 
 232,053   JPMorgan Mortgage Trust Series 2017-2 Class B5 3.65%, 05/25/2047   208,199 
 92,584   JPMorgan Mortgage Trust Series 2018-6 Class B2 3.90%, 12/25/2048   84,837 
 80,373   JPMorgan Mortgage Trust Series 2019-INV1 Class B3 4.93%, 09/25/2049   77,841 
 210,115   JPMorgan Mortgage Trust Series 2020-2 Class B5 3.81%, 07/25/2050   185,357 
 175,038   JPMorgan Mortgage Trust Series 2021-4 Class A11 4.26%, 08/25/2051   161,991 
 246,252   JPMorgan Mortgage Trust Series 2021-10 Class A11 4.41%, 12/25/2051   230,850 
 209,614   JPMorgan Mortgage Trust Series 2024-INV1 Class A3 5.50%, 04/25/2055   209,589 
 101,161   Mello Mortgage Capital Acceptance Series 2021-INV2 Class A4 2.50%, 08/25/2051   90,013 
 129,166   New Residential Mortgage Loan Trust Series 2021-INV2 Class A11 4.56%, 09/25/2051   121,324 
 167,831   New Residential Mortgage Loan Trust Series 2025-NQM1 Class A1 5.64%, 01/25/2065   168,537 
 238,742   New Residential Mortgage Loan Trust Series 2025-NQM4 Class A2 5.60%, 07/25/2065   238,070 
 80,675   New Residential Mortgage Loan Trust Series 2025-NQM5 Class A1 5.11%, 08/25/2065   80,025 
 240,029   PRKCM Trust Series 2021-AFC2 Class A1 2.07%, 11/25/2056   211,005 
 63,698   PRMI Securitization Trust Series 2021-1 Class A3B 2.00%, 04/25/2051   54,697 
 69,162   TRK Trust Series 2021-INV2 Class A1 1.97%, 11/25/2056   61,715 
 223,224   Wells Fargo Mortgage Backed Securities Trust Series 2021-1 Class B2 2.70%, 12/25/2050   191,960 
 106,123   Wells Fargo Mortgage Backed Securities Trust Series 2021-RR1 Class A1 2.50%, 12/25/2050   87,651 
 109,919   Wells Fargo Mortgage Backed Securities Trust Series 2021-2 Class A3 2.50%, 06/25/2051(a)   97,743 
 65,480   Wells Fargo Mortgage Backed Securities Trust Series 2021-INV2 Class A4 2.50%, 09/25/2051   58,620 
 85,702   Wells Fargo Mortgage Backed Securities Trust Series 2021-INV2 Class A17 3.00%, 09/25/2051   72,927 
 72,624   Wells Fargo Mortgage Backed Securities Trust Series 2022-2 Class A2 2.50%, 12/25/2051   59,892 
 73,104   Wells Fargo Mortgage Backed Securities Trust Series 2022-INV1 Class A2 3.00%, 03/25/2052   62,985 
 118,102   Wells Fargo Mortgage Backed Securities Trust Series 2022-INV1 Class A4 3.00%, 03/25/2052   107,048 
Total Collateralized Mortgage Obligations (Cost $4,181,464)   4,168,539 
           
Collateralized Mortgage-Backed Securities — 6.9%     
 260,000   BANK Series 2023-5YR1 Class D 4.00%, 04/15/2056   235,686 
 39,200   BANK Series 2023-5YR1 Class A2 5.78%, 04/15/2056   39,461 
 50,000   BANK Series 2024-BNK47 Class C 6.83%, 06/15/2057   50,047 
 121,000   BANK Series 2024-5YR10 Class B 6.14%, 10/15/2057   122,584 
 250,000   BANK Series 2025-5YR14 Class C 6.46%, 04/15/2058   251,005 
 350,000   BANK Series 2019-BN18 Class B 3.98%, 05/15/2062   306,759 
 100,000   BANK Series 2019-BN22 Class A4 2.98%, 11/15/2062   94,222 
 165,000   BANK Series 2019-BN24 Class B 3.45%, 11/15/2062   150,578 
 140,000   BANK Series 2019-BN22 Class B 3.41%, 11/15/2062   120,783 
 200,000   BANK Trust Series 2025-5YR13 Class A2 5.03%, 01/15/2058   200,572 
 126,664   BBCMS Mortgage Trust Series 2024-C24 Class A1 5.23%, 02/15/2057   127,044 
 198,187   BBCMS Mortgage Trust Series 2024-5C29 Class A2 4.74%, 09/15/2057   197,091 
 65,000   Benchmark Mortgage Trust Series 2020-B20 Class B 2.53%, 10/15/2053   52,624 
 127,000   Benchmark Mortgage Trust Series 2024-V7 Class A3 6.23%, 05/15/2056   131,280 

 

 

 

 

Portfolio of Investments (continued) June 30, 2026 (Unaudited)

Rareview Total Return Bond ETF

 

Face Amount ($)      Fair Value ($) 
Collateralized Mortgage-Backed Securities — 6.9% (continued)     
 100,000   Benchmark Mortgage Trust Series 2024-V7 Class AS 6.53%, 05/15/2056   103,269 
 240,000   Benchmark Mortgage Trust Series 2024-V5 Class B 6.06%, 01/10/2057   242,232 
 100,000   Benchmark Mortgage Trust Series 2024-V6 Class AS 6.38%, 03/15/2057   102,637 
 100,000   BMO Mortgage Trust Series 2024-C9 Class A2 6.76%, 07/15/2057   102,989 
 69,847   CCUBS Commercial Mortgage Trust Series 2017-C1 Class A3 3.28%, 11/15/2050   68,569 
 135,000   CSAIL Commercial Mortgage Trust Series 2018-C14 Class A4 4.42%, 11/15/2051   133,658 
 100,000   Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates Series KG02 Class A2 2.41%, 08/25/2029   94,513 
 100,000   Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates Series K-158 Class A2 4.05%, 07/25/2033   96,675 
 5,000   JPMBB Commercial Mortgage Securities Trust Series 2014-C25 Class A5 3.67%, 11/15/2047   4,950 
 145,000   MED Commercial Mortgage Trust Series 2024-MOB Class A 5.22%, 05/15/2041   143,072 
 100,000   Morgan Stanley Capital I Trust Series 2019-L2 Class A4 4.07%, 03/15/2052   98,040 
 140,000   Wells Fargo Commercial Mortgage Trust Series 2019-C54 Class B 3.67%, 12/15/2052   125,401 
 145,000   Wells Fargo Commercial Mortgage Trust Series 2024-C63 Class A5 5.31%, 08/15/2057   147,315 
 175,000   Wells Fargo Commercial Mortgage Trust Series 2025-5C3 Class A3 6.10%, 01/15/2058   181,288 
 200,000   Wells Fargo Commercial Mortgage Trust Series 2026-5C8 Class A3 5.03%, 03/15/2059   200,593 
Total Collateralized Mortgage-Backed Securities (Cost $3,960,405)   3,924,937 
           
Corporate Bonds — 23.2%     
 450,000   Appalachian Power Co. 5.65%, 04/01/2034   462,277 
 149,000   AthenaHealth Group, Inc. 6.50%, 02/15/2030   142,865 
 457,000   Bank of America Corp. 5.47%, 01/23/2035   465,945 
 212,000   Beacon Point DC LLC 6.13%, 11/30/2042   213,821 
 142,000   Beazer Homes USA, Inc. 7.50%, 03/15/2031   141,371 
 438,000   Boeing Co. (The) 6.13%, 02/15/2033   465,546 
 461,000   Boston Properties, LP 5.75%, 01/15/2035   465,390 
 462,000   Citigroup, Inc. 4.91%, 05/24/2033   459,642 
 132,000   Comstock Resources, Inc. 6.75%, 03/01/2029   129,978 
 154,000   CoreWeave, Inc. 9.25%, 06/01/2030   155,000 
 449,000   Dell International LLC/EMC Corp. 5.40%, 04/15/2034   455,204 
 102,000   Directv Financing LLC 8.88%, 02/01/2030   103,685 
 465,000   EQT Corp. 5.75%, 02/01/2034   475,452 
 439,000   General Motors Financial Co., Inc. 6.10%, 01/07/2034   458,000 
 519,000   Goldman Sachs Group, Inc. (The) 4.41%, 04/23/2039   469,343 
 567,000   GXO Logistics, Inc. 2.65%, 07/15/2031   502,584 
 441,000   HCA, Inc. 5.60%, 04/01/2034   450,299 
 400,000   Intel Corp. 5.15%, 02/21/2034   400,209 
 438,000   Interstate Power and Light Co. 5.70%, 10/15/2033   453,534 
 633,000   JPMorgan Chase & Co. 3.11%, 04/22/2041   488,252 
 461,000   Kinder Morgan, Inc. 5.30%, 12/01/2034   464,419 
 103,000   Kraken Oil & Gas Partners LLC 7.63%, 08/15/2029   104,019 
 455,000   Morgan Stanley 5.47%, 01/18/2035   461,908 
 467,000   Oracle Corp. 5.20%, 09/26/2035   437,208 
 438,000   Ovintiv, Inc. 6.25%, 07/15/2033   460,754 
 432,000   Patterson-UTI Energy, Inc. 7.15%, 10/01/2033   464,167 
 449,000   Philip Morris International, Inc. 5.25%, 02/13/2034   456,361 
 504,000   Pilgrim’s Pride Corp. 4.25%, 04/15/2031   483,323 
 130,000   Rithm Capital Corp. 8.00%, 04/01/2029   130,520 
 266,000   Salesforce, Inc. 5.20%, 03/15/2033   266,468 
 174,000   Space Exploration Technologies Corp. 5.65%, 07/15/2033   172,963 
 451,000   State Street Corp. 5.16%, 05/18/2034   455,766 
 440,000   Tyson Foods, Inc. 5.70%, 03/15/2034   452,711 
 441,000   U.S. Bancorp 5.68%, 01/23/2035   455,330 
 108,000   Univision Communications, Inc. 7.38%, 06/30/2030   108,292 
 116,000   Venture Global LNG, Inc. 9.88%, 02/01/2032   123,837 
 452,000   Wells Fargo & Co. 5.61%, 01/15/2044   435,329 
Total Corporate Bonds (Cost $13,320,419)   13,291,772 

 

 

 

 

Portfolio of Investments (continued) June 30, 2026 (Unaudited)

Rareview Total Return Bond ETF

 

Shares/Face Amount ($)      Fair Value ($) 
Exchange-Traded Funds — 16.0%     
 24,636   First Trust Emerging Markets Local Currency Bond ETF   719,864 
 199,348   Rareview Dynamic Fixed Income ETF(b)   4,748,708 
 24,173   Rareview Government Money Market ETF(b)   2,425,519 
 18,894   Vanguard Extended Duration Treasury ETF   1,229,622 
Total Exchange-Traded Funds (Cost $9,218,390)   9,123,713 
           
Municipal Bonds — 0.8%     
 95,000   County of Miami-Dade FL Transit System (RB) Series B 5.53%, 07/01/2032   95,803 
 100,000   Metropolitan Transportation Authority (RB) 6.65%, 11/15/2039   107,178 
 65,000   New York City Municipal Water Finance Authority (RB) Series BABS 5.88%, 06/15/2044   64,587 
 85,000   State of California (GO) 7.55%, 04/01/2039   100,888 
 95,686   State of Illinois (GO) 5.10%, 06/01/2033   96,666 
Total Municipal Bonds (Cost $468,856)   465,122 
           
Preferred Stocks — 0.4%     
Financials — 0.2%     
 4,522   Rithm Capital Corp.   112,734 
Utilities — 0.2%     
 6,532   Brookfield Infrastructure Partners, LP   102,944 
Total Preferred Stocks (Cost $220,222)   215,678 
           
           
Treasury Notes — 13.2%     
 882,000   United States Treasury Note/Bond 3.88%, 03/31/2028   877,659 
 340,000   United States Treasury Note/Bond 3.50%, 12/15/2028   334,741 
 2,400,000   United States Treasury Note/Bond 3.88%, 03/31/2031   2,365,874 
 1,710,000   United States Treasury Note/Bond 4.25%, 03/31/2033   1,704,656 
 1,825,000   United States Treasury Note/Bond 4.13%, 02/15/2036   1,780,516 
 541,000   United States Treasury Note/Bond 4.25%, 02/15/2054   482,716 
Total Treasury Notes (Cost $7,644,991)   7,546,162 
           
U.S. Government Agency Mortgages — 31.0%     
 100,000   Federal Farm Credit Banks Funding Corp. 5.43%, 12/01/2045   98,935 
 130,000   Federal Home Loan Banks 5.35%, 09/25/2040   126,377 
 162,695   Federal Home Loan Mortgage Corporation 4.00%, 01/01/2040   158,122 
 148,306   Federal Home Loan Mortgage Corporation 3.00%, 02/01/2050   133,896 
 327,501   Federal Home Loan Mortgage Corporation 2.50%, 09/01/2051   273,898 
 114,296   Federal Home Loan Mortgage Corporation 2.50%, 02/01/2052   96,073 
 405,994   Federal Home Loan Mortgage Corporation 2.50%, 04/01/2052   341,100 
 445,428   Federal Home Loan Mortgage Corporation 2.50%, 04/01/2052   374,391 
 865,167   Federal Home Loan Mortgage Corporation 3.00%, 05/01/2052   756,234 
 472,557   Federal Home Loan Mortgage Corporation 3.00%, 05/01/2052   412,960 
 375,785   Federal Home Loan Mortgage Corporation 2.50%, 05/01/2052   321,438 
 314,738   Federal Home Loan Mortgage Corporation 3.50%, 06/01/2052   285,745 
 794,957   Federal Home Loan Mortgage Corporation 3.00%, 06/01/2052   694,502 
 74,819   Federal Home Loan Mortgage Corporation 4.00%, 06/01/2052   70,108 
 705,680   Federal Home Loan Mortgage Corporation 4.00%, 08/01/2052   660,856 
 389,516   Federal Home Loan Mortgage Corporation 2.50%, 08/01/2052   327,255 
 777,832   Federal Home Loan Mortgage Corporation 3.50%, 08/01/2052   706,177 
 780,320   Federal Home Loan Mortgage Corporation 3.00%, 09/01/2052   681,094 
 640,078   Federal Home Loan Mortgage Corporation 2.50%, 10/01/2052   536,708 
 763,633   Federal Home Loan Mortgage Corporation 3.50%, 01/01/2055   693,266 
 310,049   Federal Home Loan Mortgage Corporation 4.00%, 03/01/2056   289,859 
 205,858   Federal National Mortgage Association 2.50%, 09/01/2051   172,164 
 1   Federal National Mortgage Association 2.50%, 12/01/2051   1 
 175,810   Federal National Mortgage Association 2.50%, 01/01/2052   147,033 
 143,043   Federal National Mortgage Association 3.00%, 04/01/2052   126,252 
 444,075   Federal National Mortgage Association 2.50%, 04/01/2052   372,017 
 401,535   Federal National Mortgage Association 2.50%, 04/01/2052   337,792 
 806,627   Federal National Mortgage Association 3.00%, 04/01/2052   704,178 

 

 

 

 

Portfolio of Investments (continued) June 30, 2026 (Unaudited)

Rareview Total Return Bond ETF

 

Face Amount ($)      Fair Value ($) 
U.S. Government Agency Mortgages — 31.0% (continued)     
 198,028   Federal National Mortgage Association 2.50%, 05/01/2052   165,613 
 849,542   Federal National Mortgage Association 4.00%, 06/01/2052   797,434 
 821,733   Federal National Mortgage Association 3.00%, 06/01/2052   717,165 
 168,779   Federal National Mortgage Association 2.50%, 06/01/2052   141,653 
 789,474   Federal National Mortgage Association 3.50%, 07/01/2052   717,321 
 334,144   Federal National Mortgage Association 4.00%, 08/01/2052   313,483 
 469,889   Federal National Mortgage Association 3.00%, 10/01/2052   410,374 
 782,325   Federal National Mortgage Association 3.50%, 10/01/2052   710,257 
 193,636   Federal National Mortgage Association 4.00%, 03/01/2053   181,396 
 725,184   Federal National Mortgage Association 3.50%, 04/01/2053   662,180 
 248,236   Federal National Mortgage Association 4.00%, 05/01/2053   232,266 
 785,532   Federal National Mortgage Association 3.50%, 11/01/2054   713,065 
 391,906   Federal National Mortgage Association 4.00%, 03/01/2055   366,466 
 372,480   Federal National Mortgage Association 4.00%, 07/01/2055   348,301 
 315,000   Federal National Mortgage Association 4.50%, 07/01/2056   301,883 
 466,000   Federal National Mortgage Association 5.00%, TBA   457,373 
 636,000   Federal National Mortgage Association 4.50%, TBA   608,746 
Total U.S. Government Agency Mortgages (Cost $17,797,224)   17,743,407 
           
Yankee Dollars — 0.5%     
 210,000   Brookfield Residential Properties, Inc. / Brookfield Residential US LLC 5.00%, 06/15/2029   199,968 
 67,900   Transocean International, Ltd. 8.75%, 02/15/2030   70,555 
Total Yankee Dollars (Cost $271,798)   270,523 
           
Total Investments — 100.3% (Cost $57,666,938)   57,334,995 
Net other assets (liabilities) — (0.3%)   (156,985)
Net Assets — 100.0%   57,178,010 

 

(a) Security which is restricted to resale. The Fund’s Advisor has deemed this security to be illiquid based upon procedures approved by the Board of Trustees. The aggregate value of these securities at June 30, 2026 was $155,273 which represented 0.27% of the net assets of the Fund.
(b) Affiliated security

 

ETF — Exchange-Traded Fund

GO — General Obligation

LP — Limited Partnership

RB — Revenue Bond

TBA — To Be Announced purchase or sale commitment. Security is subject to delayed delivery