ALPHA ARCHITECT GLOBAL FACTOR EQUITY ETF
SCHEDULE OF INVESTMENTS
June 30, 2026 (Unaudited)
EXCHANGE TRADED FUNDS - 99.5%

Shares  

Value  
Alpha Architect International Quantitative Momentum ETF (a)(b)

172,987 

$7,486,013 
Alpha Architect International Quantitative Value ETF (a)(b)

198,791 

6,772,809 
Alpha Architect US Quantitative Momentum ETF (b)

72,997 

5,747,054 
Alpha Architect US Quantitative Value ETF (b)

92,703 

5,140,381 
TOTAL EXCHANGE TRADED FUNDS (Cost $19,063,160)

25,146,257 





SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.2%

First American Government Obligations Fund - Class X, 3.57% (c)

52,607 

52,607 
TOTAL MONEY MARKET FUNDS (Cost $52,607)

52,607 





TOTAL INVESTMENTS - 99.7% (Cost $19,115,767)

$25,198,864 
Other Assets in Excess of Liabilities - 0.3%
78,281 
TOTAL NET ASSETS - 100.0%



$25,277,145 

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)

Affiliated security as defined by the Investment Company Act of 1940.
(c)

The rate shown represents the 7-day annualized yield as of June 30, 2026.






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ALPHA ARCHITECT GLOBAL FACTOR EQUITY ETF

Summary of Fair Value Disclosure as of June 30, 2026 (Unaudited)

Alpha Architect Global Factor Equity ETF (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 June 30, 2026:
DESCRIPTIONS
LEVEL 1

LEVEL 2

LEVEL 3

TOTAL
Investments:







Exchange Traded Funds
$25,146,257 

$— 

$— 

$25,146,257 
Money Market Funds
52,607 

— 

— 

52,607 
Total Investments
$25,198,864 

$— 

$— 

$25,198,864 

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

During the fiscal period ended June 30, 2026, the Fund did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

Transactions with Affiliates

The Fund’s transactions with affiliates represent holdings for which it and the underlying exchange-traded fund have the same investment adviser. The Fund had the following transactions with such affiliated funds during the fiscal period ended June 30, 2026:
Alpha Architect International Quantitative Momentum ETF Alpha Architect International Quantitative Value ETF Alpha Architect US Quantitative Momentum ETF Alpha Architect US Quantitative Value ETF Total
Value as of
September 30, 2025		$6,277,738 $5,473,537 $4,568,351 $4,022,676 $20,342,302 
Additions1,346,366 1,401,892 1,668,563 1,914,452 6,331,273 
Reductions(1,173,422)(756,342)(1,330,089)(1,584,602)(4,844,455)
Realized Gain (Loss)279,789 167,197 252,983 130,822 830,791 
Net Change in Unrealized Appreciation (Depreciation)755,542 486,525 587,246 657,033 2,486,346 
Value as of
June 30, 2026		$7,486,013 $6,772,809 $5,747,054 $5,140,381 $25,146,257 
Dividend/ Interest Income$150,311 $154,628 $21,074 $57,502 $383,515 
Capital Gain Distributions from Underlying Funds— — — — — — $— 
Shares as of
June 30, 2026		172,987 198,791 72,997 92,703 $537,478 
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