The Brinsmere Fund - Growth ETF
Schedule of Investments
June 30, 2026 (Unaudited)

EXCHANGE TRADED FUNDS - 99.7%

Shares  

Value  
Alternatives - 2.3%

iMGP DBi Managed Futures Strategy ETF

            286,177

    $        8,759,878






Commodities - 2.0%

SPDR Gold MiniShares Trust (a)

            99,471

             7,899,987






Domestic Equity - 49.8%

Invesco RAFI US 1000 ETF

            477,346

             25,791,004
Invesco S&P 500 Momentum ETF

            191,226

             30,890,648
State Street SPDR Portfolio S&P 400 Mid Cap ETF

            218,528

             14,763,752
State Street SPDR Portfolio S&P 500 ETF

            504,127

             44,302,681
State Street SPDR Portfolio S&P 600 Small Cap ETF

            426,129

             24,574,859
Vanguard Growth ETF

            251,148

             21,633,889
Vanguard Mega Cap Growth ETF

            235,300

             20,685,223
Vanguard Small-Cap Growth ETF

            24,420

             8,930,394




             191,572,450






Domestic Fixed Income - 21.0%

iShares 0-1 Year Treasury Bond ETF

            170,044

             18,764,355
Vanguard Intermediate-Term Corporate Bond ETF

            165,429

             13,672,707
Vanguard Intermediate-Term Treasury ETF

            339,292

             20,011,442
Vanguard Long-Term Treasury ETF

            83,654

             4,616,028
Vanguard Short-Term Inflation-Protected Securities ETF

            107,827

             5,416,150
Xtrackers USD High Yield Corporate Bond ETF

            500,159

             18,265,807




             80,746,489






Foreign Equity - 24.6%

Avantis International Small Cap Value ETF

            111,286

             11,468,022
Columbia EM Core ex-China ETF

            206,864

             10,938,968
Dimensional Emerging Markets Value ETF

            277,993

             11,861,155
Dimensional International Core Equity 2 ETF

            327,259

             12,193,671
Dimensional International Value ETF

            225,216

             12,166,168
iShares MSCI EAFE Min Vol Factor ETF

            131,899

             11,568,861
Schwab Fundamental International Equity ETF

            225,554

             11,900,229
Vanguard FTSE Developed Markets ETF

            176,154

             12,550,973




             94,648,047
TOTAL EXCHANGE TRADED FUNDS (Cost $359,414,588)

             383,626,851






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.3%
Shares  

Value  
First American Treasury Obligations Fund - Class X, 3.58% (b)

            1,338,438

             1,338,438
TOTAL MONEY MARKET FUNDS (Cost $1,338,438)

             1,338,438






TOTAL INVESTMENTS - 100.0% (Cost $360,753,026)

             384,965,289
Liabilities in Excess of Other Assets - (0.0)% (c)
(0.00028)
            (106,794)
TOTAL NET ASSETS - 100.0%




    $        384,858,495


Percentages are stated as a percent of net assets.










(a)

Non-income producing security.
(b)

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

Represents less than 0.05% of net assets.










Summary of Fair Value Disclosure as of June 30, 2026 (Unaudited)
 
The Brinsmere Fund - Growth 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 June 30, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Exchange Traded Funds
    $        383,626,851

    $        –

    $        –

    $        383,626,851
  Money Market Funds
            1,338,438

            –

            –

            1,338,438
Total Investments
    $        384,965,289

    $        –

    $        –

    $        384,965,289




 

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