| Portfolio of Investments | June 30, 2026 (Unaudited) |
The SPAC and New Issue ETF
| Shares/Units | Fair Value ($) | |||||||
| Common Stocks — 98.9% | ||||||||
| Financials — 95.0% | ||||||||
| 10,769 | Abony Acquisition Corp. I(a) | 107,798 | ||||||
| 74,315 | Acropolis Infrastructure Escrow(a) | — | ||||||
| 10,769 | Activate Energy Acquisition Corp.(a) | 109,413 | ||||||
| 21,538 | Apogee Acquisition Corp.(a) | 220,334 | ||||||
| 10,769 | Archimedes Tech SPAC Partners III Co.(a) | 109,413 | ||||||
| 21,538 | Art Technology Acquisition Corp.(a) | 214,088 | ||||||
| 26,923 | Art Technology Acquisition Corp.(a) | 268,691 | ||||||
| 30,577 | BERTO ACQUISITION Corp.(a) | 320,752 | ||||||
| 37,692 | Bleichroeder Acquisition Corp. II(a) | 414,988 | ||||||
| 16,154 | Cambridge Acquisition Corp.(a) | 161,217 | ||||||
| 21,608 | Cantor Equity Partners I, Inc., Class A(a) | 190,799 | ||||||
| 32,308 | Cantor Equity Partners VI, Inc., Class A(a) | 335,034 | ||||||
| 20,000 | Cantor Equity Partners VII, Inc., Class A(a) | 201,800 | ||||||
| 37,692 | Cohen Circle Acquisition Corp. II(a) | 388,227 | ||||||
| 26,923 | Collective Acquisition Corp. II(a) | 270,576 | ||||||
| 20,000 | CSLM Digital Asset Acquisition Corp. III, Ltd.(a) | 202,800 | ||||||
| 10,769 | Digital Asset Acquisition Corp.(a) | 113,613 | ||||||
| 10,769 | Drugs Made In America Acquisition II Corp.(a) | 108,336 | ||||||
| 35,000 | FG Imperii Acquisition Corp.(a) | 347,550 | ||||||
| 21,538 | Forefront Tech Holdings Acquisition Corp.(a) | 216,457 | ||||||
| 25,000 | FutureCorp Space Acquisition 1(a) | 253,250 | ||||||
| 20,000 | GigCapital9 Corp., Class A(a) | 198,600 | ||||||
| 5,385 | Hennessy Capital Investment Corp. VII(a) | 57,943 | ||||||
| 10,769 | ITHAX Acquisition Corp. III(a) | 108,121 | ||||||
| 5,385 | Leapfrog Acquisition Corp.(a) | 54,335 | ||||||
| 21,538 | M3-Brigade Acquisition V Corp., Class A(a) | 233,257 | ||||||
| 16,154 | Melar Acquisition Corp. I(a) | 175,756 | ||||||
| 20,000 | Miluna Acquisition Corp.(a) | 202,000 | ||||||
| 10,769 | Muzero Acquisition Corp.(a) | 108,121 | ||||||
| 20,000 | New Providence Acquisition Corp. III, Class A(a) | 207,600 | ||||||
| 26,923 | Praetorian Acquisition Corp.(a) | 270,038 | ||||||
| 16,154 | Proem Acquisition Corp. I(a) | 162,832 | ||||||
| 5,385 | Rithm Acquisition Corp., Class A(a) | 56,327 | ||||||
| 26,923 | RRE Ventures Acquisition Corp.(a) | 269,768 | ||||||
| 5,385 | Space Asset Acquisition Corp.(a) | 56,866 | ||||||
| 20,000 | SPACSphere Acquisition Corp., Class A(a) | 199,600 | ||||||
| 26,923 | Tribeca Strategic Acquisition Corp.(a) | 267,884 | ||||||
| 28,462 | Twelve Seas Investment Co. III, Class A(a) | 284,335 | ||||||
| 24,231 | West Enclave Merger Corp.(a) | 244,248 | ||||||
| 10,000 | Wilco 63 Corp.(a) | 99,500 | ||||||
| 7,812,267 | ||||||||
| Health Care — 0.0%(b) | ||||||||
| 172 | DIH Holdings U.S., Inc.(a) | — | ||||||
| Information Technology — 1.3% | ||||||||
| 10,769 | Social Commerce Partners Corp.(a) | 110,382 | ||||||
| Materials — 1.3% | ||||||||
| 10,769 | M Evo Global Acquisition Corp. II(a) | 108,767 | ||||||
| Utilities — 1.3% | ||||||||
| 10,769 | Legato Merger Corp. IV(a) | 108,013 | ||||||
| Total Common Stocks (Cost $8,105,860) | 8,139,429 | |||||||
| Portfolio of Investments (continued) | June 30, 2026 (Unaudited) |
The SPAC and New Issue ETF
| Shares/Units | Fair Value ($) | |||||||
| Private Investments — 0.0%(b) | ||||||||
| 59,668 | Clean Energy Special Situations Corp. - Founder Shares(a)(c)(d) | — | ||||||
| 33,750 | Silver Spike Sponsor II LLC(a)(c)(d) | 34 | ||||||
| Total Private Investments (Cost $153,894) | 34 | |||||||
| Warrants — 0.0%(b) | ||||||||
| 50,000 | Aura FAT Projects Acquisition Corp., 06/02/2027(a) | — | ||||||
| 19,889 | Clean Energy Special Situations Corp. - Private Placement Units, 01/13/2049(a)(c)(d) | 20 | ||||||
| 19,770 | Newbury Street Acquisition Corp., 12/31/2027(a) | — | ||||||
| Total Warrants (Cost $45,666) | 20 | |||||||
| Total Investments — 98.9% (Cost $8,305,420) | 8,139,483 | |||||||
| Net other assets (liabilities) — 1.1% | 93,321 | |||||||
| Net Assets — 100.0% | 8,232,804 | |||||||
The illiquid restricted securities held as of June 30, 2026 are identified below.
| Security | Acquisition | Acquisition Cost ($) | Shares or Units | Fair Value ($) | Percentage of Net Assets (%) | |||||||||||||||
| Clean Energy Special Situations Corp. - Founder Shares | 8/12/2021 | 153,894 | 59,668 | — | — | |||||||||||||||
| Clean Energy Special Situations Corp. - Private Placement Units | 8/12/2021 | 45,000 | 19,889 | 20 | 0.0 | |||||||||||||||
| Silver Spike Sponsor II LLC | 4/22/2024(f) | — | (f) | 33,750 | 34 | 0.0 | ||||||||||||||
Amounts shown as “—” are either $0 or round to less than $1
| (a) | Non-income producing security |
| (b) | Represents less than 0.05%. |
| (c) | Security was valued using unobservable inputs in good faith pursuant to procedures approved by the Board of Trustees as of June 30, 2026. |
| (d) | 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 $54 which represented less than 0.05% of the net assets of the Fund. |
| (e) | Acquisition date represents the initial purchase date of the security, if applicable. |
| (f) |
Silver Spike Sponsor II LLC was removed from the portfolio when the SPAC liquidated and then added back onto accounting records on date above in anticipation of final distribution of Trust assets. Since the value of the distribution is unknown, this security is fair valued at $0. |