Convergence Long/Short Equity ETF
Schedule of Investments
August 31, 2026 (Unaudited)

COMMON STOCKS - 113.7%

Shares  

Value  
Accommodation - 0.2%

Travel + Leisure Co. (a)

            23,052

    $        1,585,056






Administrative and Support Services - 2.4%

Booking Holdings, Inc. (a)

            17,568

             3,497,613
Bread Financial Holdings, Inc. (a)

            71,011

             7,418,519
Expedia Group, Inc. (a)

            13,688

             4,340,739
Mastercard, Inc. - Class A (a)

            1,257

             740,763
Millicom International Cellular SA (a)

            27,386

             2,567,711
Uber Technologies, Inc. (a)(b)

            41,767

             3,159,673




             21,725,018






Beverage and Tobacco Product Manufacturing - 1.0%

Altria Group, Inc. (a)

            73,174

             5,010,955
Coca-Cola Consolidated, Inc. (a)

            22,119

             4,325,813




             9,336,768






Chemical Manufacturing - 5.9%

Amgen, Inc. (a)

            7,886

             3,390,034
Biogen, Inc. (a)(b)

            22,150

             4,798,797
Bristol-Myers Squibb Co. (a)

            98,626

             6,589,203
Halozyme Therapeutics, Inc. (a)(b)

            62,247

             6,628,683
Incyte Corp. (a)(b)

            52,015

             6,409,288
Jazz Pharmaceuticals PLC (a)(b)

            28,810

             7,222,091
Merck & Co., Inc. (a)

            32,836

             4,851,847
Neurocrine Biosciences, Inc. (a)(b)

            47,992

             7,392,208
Viatris, Inc. (a)

            325,386

             5,372,123




             52,654,274






Computer and Electronic Product Manufacturing - 30.9% (c)

10X Genomics, Inc. - Class A (a)(b)

            118,694

             7,412,440
Advanced Micro Devices, Inc. (a)(b)

            33,396

             15,720,165
Amkor Technology, Inc. (a)

            53,918

             2,550,322
Apple, Inc.

            59,944

             18,993,256
Arista Networks, Inc. (a)(b)

            59,605

             11,664,103
AXT, Inc. (a)(b)

            51,982

             3,150,629
Broadcom, Inc. (a)

            85,447

             31,644,442
Cisco Systems, Inc.

            88,347

             9,761,460
Dell Technologies, Inc. - Class C (a)

            30,621

             13,963,482
Fortinet, Inc. (a)(b)

            93,469

             15,976,656
Illumina, Inc. (a)(b)

            15,511

             3,313,615
Keysight Technologies, Inc. (b)

            10,564

             3,409,003
Lam Research Corp. (a)

            49,180

             14,827,278
Micron Technology, Inc. (a)

            28,618

             27,436,935
MKS, Inc. (a)

            13,792

             3,534,062
Northrop Grumman Corp. (a)

            8,123

             4,383,983
NVIDIA Corp. (a)

            251,998

             55,636,119
Otis Worldwide Corp.

            68,562

             4,876,815
Sandisk Corp. (a)(b)

            12,262

             19,210,875
Teradata Corp. (a)(b)

            141,476

             4,102,804
Western Digital Corp. (a)

            14,589

             6,573,074




             278,141,518








Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - 0.8%

Airbnb, Inc. - Class A (a)(b)

            25,217

             4,620,259
Automatic Data Processing, Inc. (a)

            7,754

             2,218,884




             6,839,143






Construction of Buildings - 0.9%

Everus Construction Group, Inc. (b)

            42,501

             4,893,140
NVR, Inc. (a)(b)

            257

             1,623,014
Toll Brothers, Inc. (a)

            9,888

             1,418,434




             7,934,588






Couriers and Messengers - 0.3%

United Parcel Service, Inc. - Class B (a)

            25,884

             2,697,889






Credit Intermediation and Related Activities - 7.1%

Bank of America Corp. (a)

            155,329

             9,621,078
Bank of New York Mellon Corp. (a)

            48,186

             7,771,438
Citigroup, Inc. (a)

            43,396

             5,711,782
Citizens Financial Group, Inc. (a)

            62,875

             4,330,201
First BanCorp/Puerto Rico (a)

            204,277

             5,695,243
Northern Trust Corp. (a)

            37,073

             6,879,266
PNC Financial Services Group, Inc. (a)

            26,445

             6,337,015
State Street Corp. (a)

            40,359

             7,723,905
Synchrony Financial (a)

            24,785

             1,910,428
Wells Fargo & Co. (a)

            57,697

             4,984,444
Zions Bancorp NA (a)

            45,971

             3,065,806




             64,030,606






Electrical Equipment, Appliance, and Component Manufacturing - 0.5%

EnerSys (a)

            25,852

             4,753,149






Fabricated Metal Product Manufacturing - 1.0%

Mueller Industries, Inc. (a)

            74,784

             4,667,270
Nucor Corp. (a)

            17,741

             4,428,863




             9,096,133






Food Manufacturing - 1.2%

Archer-Daniels-Midland Co. (a)

            74,441

             6,051,309
Darling Ingredients, Inc. (a)(b)

            73,216

             4,852,024




             10,903,333






Food Services and Drinking Places - 1.4%

Manhattan Associates, Inc. (a)(b)

            54,647

             12,196,664






General Merchandise Retailers - 2.5%

Macy's, Inc. (a)

            266,555

             5,853,548
Target Corp. (a)

            67,799

             10,907,503
Walmart, Inc. (a)

            55,958

             5,868,315




             22,629,366






Health and Personal Care Retailers - 0.6%

CVS Health Corp. (a)

            60,376

             5,669,910






Insurance Carriers and Related Activities - 4.5%

Centene Corp. (a)(b)

            96,117

             6,184,168
Cigna Group (a)

            18,680

             5,157,174


Frontdoor, Inc. (a)(b)

            62,589

             5,061,572
MetLife, Inc. (a)

            42,817

             4,074,894
Oscar Health, Inc. - Class A (a)(b)

            61,799

             1,851,498
Prudential Financial, Inc. (a)

            36,693

             4,315,097
Reinsurance Group of America, Inc. (a)

            14,741

             3,626,876
Travelers Cos., Inc. (a)

            9,886

             3,617,584
UnitedHealth Group, Inc. (a)

            15,832

             6,165,139




             40,054,002






Leather and Allied Product Manufacturing - 0.2%

Tapestry, Inc. (a)

            12,218

             1,507,579






Machinery Manufacturing - 0.6%

Cummins, Inc.

            8,707

             4,914,231






Management of Companies and Enterprises - 0.4%

Cathay General Bancorp (a)

            48,426

             2,964,155
Slide Insurance Holdings, Inc. (a)(b)

            44,659

             1,038,322




             4,002,477






Merchant Wholesalers, Durable Goods - 1.8%

Arrow Electronics, Inc. (a)(b)

            20,257

             4,141,139
Avnet, Inc. (a)

            53,541

             4,795,132
OPENLANE, Inc. (a)(b)

            58,723

             2,090,539
Reliance, Inc. (a)

            4,321

             1,659,480
TD SYNNEX Corp. (a)

            13,310

             3,365,433




             16,051,723






Merchant Wholesalers, Nondurable Goods - 1.9%

Cardinal Health, Inc. (a)

            23,468

             5,506,062
HF Sinclair Corp. (a)

            55,547

             5,644,131
McKesson Corp. (a)

            6,538

             5,788,222




             16,938,415






Mining (except Oil and Gas) - 0.8%

Freeport-McMoRan, Inc. (a)

            27,399

             2,075,200
Southern Copper Corp. (a)

            23,569

             4,922,857




             6,998,057






Miscellaneous Manufacturing - 0.9%

Brady Corp. - Class A (a)

            30,621

             2,775,794
Johnson & Johnson (a)

            20,705

             5,504,424




             8,280,218






Motor Vehicle and Parts Dealers - 2.1%

Cargurus, Inc. (a)(b)

            136,701

             4,874,758
CarMax, Inc. (a)(b)

            79,587

             4,881,071
Murphy USA, Inc. (a)

            8,745

             4,507,085
Sensata Technologies Holding PLC (a)

            116,506

             4,780,241




             19,043,155






Oil and Gas Extraction - 1.1%

APA Corp. (a)

            126,621

             5,463,696
ExxonMobil Holdings Corp. (a)

            28,373

             4,566,635




             10,030,331








Petroleum and Coal Products Manufacturing - 3.0%

Marathon Petroleum Corp. (a)

            23,550

             8,791,686
Phillips 66 (a)

            33,753

             8,322,815
Quaker Chemical Corp. (a)

            10,989

             1,821,976
Valero Energy Corp. (a)

            22,988

             8,250,853




             27,187,330






Primary Metal Manufacturing - 1.3%

Commercial Metals Co. (a)

            65,563

             4,423,536
Constellium SE (a)(b)

            122,194

             3,229,587
Howmet Aerospace, Inc. (a)

            16,201

             3,968,435




             11,621,558






Professional, Scientific, and Technical Services - 10.4%

Alphabet, Inc. - Class A (a)

            81,459

             27,643,112
Alphabet, Inc. - Class C (a)

            70,243

             23,560,205
Exelixis, Inc. (a)(b)

            118,790

             6,490,685
GoDaddy, Inc. - Class A (a)(b)

            68,341

             6,689,217
Oracle Corp. (a)

            24,281

             3,620,783
Paychex, Inc. (a)

            29,276

             3,728,006
Seagate Technology Holdings PLC (a)

            4,074

             3,374,820
VeriSign, Inc. (a)

            38,026

             10,962,135
Virtu Financial, Inc. - Class A (a)

            120,089

             7,882,642




             93,951,605






Publishing Industries - 8.8%

Adobe, Inc. (a)(b)

            34,724

             10,166,840
Autodesk, Inc. (a)(b)

            21,240

             5,491,177
Cloudflare, Inc. - Class A (b)

            19,475

             5,942,017
Dropbox, Inc. - Class A (a)(b)

            61,839

             2,176,115
Hewlett Packard Enterprise Co. (a)

            219,091

             11,445,314
Microsoft Corp.

            24,824

             12,592,967
Reddit, Inc. - Class A (a)(b)

            83,052

             12,275,916
Salesforce, Inc. (a)

            44,761

             11,527,748
Toast, Inc. - Class A (a)(b)

            80,395

             2,740,666
UiPath, Inc. - Class A (a)(b)

            247,014

             4,611,751




             78,970,511






Rail Transportation - 0.7%

CSX Corp. (a)

            48,035

             2,426,248
Union Pacific Corp. (a)

            14,201

             4,269,815




             6,696,063






Real Estate - 0.2%

Jones Lang LaSalle, Inc. (a)(b)

            4,116

             1,505,921






Rental and Leasing Services - 0.6%

AerCap Holdings NV (a)

            36,021

             5,256,905






Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.4%

Interactive Brokers Group, Inc. - Class A (a)

            85,486

             8,316,933
Morgan Stanley (a)

            13,210

             2,817,957
PJT Partners, Inc. - Class A (a)

            25,804

             4,654,783
Raymond James Financial, Inc. (a)

            39,451

             7,028,985
StoneX Group, Inc. (a)(b)

            118,479

             8,113,442




             30,932,100








Specialty Trade Contractors - 1.8%

Argan, Inc.

            8,217

             3,492,143
Comfort Systems USA, Inc. (a)

            3,279

             5,068,088
EMCOR Group, Inc. (a)

            7,250

             5,325,415
IES Holdings, Inc. (a)(b)

            8,445

             2,558,835




             16,444,481






Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - 4.2%

Amazon.com, Inc. (a)(b)

            109,478

             28,439,100
eBay, Inc. (a)

            45,238

             4,684,848
Etsy, Inc. (a)(b)

            57,958

             4,713,724




             37,837,672






Telecommunications - 0.8%

AT&T, Inc. (a)

            283,956

             7,351,621






Textile Product Mills - 0.2%

Mohawk Industries, Inc. (a)(b)

            11,597

             1,487,315






Transportation Equipment Manufacturing - 3.8%

BorgWarner, Inc. (a)

            29,804

             1,912,225
Ford Motor Co. (a)

            336,384

             4,689,193
General Motors Co. (a)

            102,141

             8,816,811
Lear Corp. (a)

            32,853

             4,106,297
Lockheed Martin Corp. (a)

            8,831

             4,956,222
RTX Corp. (a)

            24,399

             5,068,404
Textron, Inc. (a)

            56,588

             4,558,729




             34,107,881






Utilities - 2.2%

Eversource Energy (a)

            59,552

             4,176,977
Exelon Corp. (a)

            90,629

             3,962,300
National Fuel Gas Co. (a)

            35,538

             2,951,786
NextEra Energy, Inc. (a)

            50,554

             4,162,616
UGI Corp.

            118,117

             4,541,599




             19,795,278






Warehousing and Storage - 0.3%

Landstar System, Inc. (a)

            16,172

             2,921,148






Web Search Portals, Libraries, Archives, and Other Information Services - 1.0%

Meta Platforms, Inc. - Class A (a)

            16,129

             9,231,272
TOTAL COMMON STOCKS (Cost $914,005,536)

             1,023,312,264






REAL ESTATE INVESTMENT TRUSTS - 2.3%

Shares  

Value  
Professional, Scientific, and Technical Services - 0.4%

Outfront Media, Inc. (a)

            113,277

             3,328,078






Real Estate - 1.9%

DiamondRock Hospitality Co. (a)

            150,801

             1,856,361
EPR Properties (a)

            60,010

             3,523,187
First Industrial Realty Trust, Inc. (a)

            41,441

             2,564,369
Gaming and Leisure Properties, Inc. (a)

            67,956

             2,858,909
Host Hotels & Resorts, Inc. (a)

            148,170

             3,249,368
Prologis, Inc. (a)

            24,999

             3,497,860




             17,550,054
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $21,030,650)

             20,878,132








SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.1%
Shares  

Value  
First American Government Obligations Fund - Class X, 3.59% (d)

            793,038

             793,038
TOTAL MONEY MARKET FUNDS (Cost $793,038)

             793,038






TOTAL INVESTMENTS - 116.1% (Cost $935,829,224)

             1,044,983,434
Liabilities in Excess of Other Assets - (16.1)%
(57)
            (144,575,372)
TOTAL NET ASSETS - 100.0%




    $        900,408,062


Percentages are stated as a percent of net assets.
PLC – Public Limited Company




(a)

All or a portion of the security has been pledged as collateral for securities sold short. The fair value of assets committed as collateral as of August 31, 2026 was $974,869,123.
(b)

Non-income producing security.
(c)

To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect that industry or sector.
(d)

The rate shown represents the 7-day annualized yield as of August 31, 2026.




Convergence Long/Short Equity ETF
Schedule of Securities Sold Short
August 31, 2026 (Unaudited)

COMMON STOCKS - (51.8)%

Shares

Value
Administrative and Support Services - (2.4)%

Carlyle Group, Inc.

(70,754)

    $        (3,423,786)
Circle Internet Group, Inc.

(38,450)

             (3,673,897)
Equifax, Inc.

(5,482)

             (1,036,975)
GPGI, Inc.

(141,957)

             (1,876,671)
Paramount Skydance Corp.

(296,811)

             (3,238,208)
ROBLOX Corp. - Class A

(141,213)

             (5,830,685)
Rollins, Inc.

(42,513)

             (1,533,444)
Royal Caribbean Cruises Ltd.

(3,167)

             (851,100)




             (21,464,766)





Air Transportation - (0.2)%

Alaska Air Group, Inc.

(49,958)

             (2,064,764)





Ambulatory Health Care Services - (0.4)%

Guardant Health, Inc.

(18,078)

             (2,874,763)
RadNet, Inc.

(8,234)

             (624,302)




             (3,499,065)





Amusement, Gambling, and Recreation Industries - (0.5)%

Walt Disney Co.

(37,685)

             (4,053,022)





Animal Production and Aquaculture - (0.3)%

Cal-Maine Foods, Inc.

(28,874)

             (2,278,736)





Beverage and Tobacco Product Manufacturing - (0.6)%

Celsius Holdings, Inc.

(85,012)

             (2,673,627)
Constellation Brands, Inc. - Class A

(9,629)

             (1,257,740)
Primo Brands Corp.

(54,720)

             (1,248,711)






             (5,180,078)





Broadcasting and Content Providers - (1.1)%

Liberty Media Corp.-Liberty Formula One - Class C

(54,429)

             (5,440,179)
Spotify Technology SA

(7,633)

             (4,149,451)




             (9,589,630)





Chemical Manufacturing - (3.1)%

Abbott Laboratories

(28,035)

             (3,093,943)
Air Products and Chemicals, Inc.

(3,706)

             (1,146,859)
Alkermes PLC

(63,119)

             (2,965,962)
Alnylam Pharmaceuticals, Inc.

(7,051)

             (1,697,105)
Arrowhead Pharmaceuticals, Inc.

(36,756)

             (3,028,327)
DuPont de Nemours, Inc.

(16,498)

             (2,220,466)
elf Beauty, Inc.

(34,817)

             (3,796,794)
Insmed, Inc.

(12,333)

             (1,502,406)
International Flavors & Fragrances, Inc.

(18,760)

             (1,619,551)
Rhythm Pharmaceuticals, Inc.

(13,510)

             (1,433,816)
TG Therapeutics, Inc.

(45,738)

             (2,483,573)
Vertex Pharmaceuticals, Inc.

(5,958)

             (3,244,250)




             (28,233,052)





Clothing, Clothing Accessories, Shoe, and Jewelry Retailers - (0.2)%

Boot Barn Holdings, Inc.

(9,102)

             (1,371,034)





Computer and Electronic Product Manufacturing - (11.5)% (a)

ACM Research, Inc. - Class A

(36,283)

             (2,642,128)
Advanced Energy Industries, Inc.

(8,090)

             (2,239,797)
Amphenol Corp. - Class A

(60,634)

             (9,613,521)
Applied Optoelectronics, Inc.

(27,036)

             (2,911,507)
Astera Labs, Inc.

(19,659)

             (5,838,330)
Badger Meter, Inc.

(25,666)

             (3,476,973)
Ciena Corp.

(10,777)

             (4,125,436)
Credo Technology Group Holding Ltd.

(34,604)

             (7,827,079)
Everpure, Inc. - Class A

(35,561)

             (3,305,395)
First Solar, Inc.

(19,696)

             (3,976,622)
GE HealthCare Technologies, Inc.

(27,626)

             (1,967,800)
Kratos Defense & Security Solutions, Inc.

(39,689)

             (2,023,345)
Kulicke & Soffa Industries, Inc.

(39,942)

             (3,197,757)
Lumentum Holdings, Inc.

(3,544)

             (3,241,910)
Mirion Technologies, Inc.

(262,817)

             (3,960,652)
Monolithic Power Systems, Inc.

(4,873)

             (6,177,843)
Motorola Solutions, Inc.

(6,933)

             (3,364,585)
NXP Semiconductors NV

(8,967)

             (2,014,347)
Onto Innovation, Inc.

(11,711)

             (3,129,296)
Rambus, Inc.

(86,002)

             (7,455,513)
Roper Technologies, Inc.

(2,716)

             (1,153,322)
Sanmina Corp.

(6,756)

             (1,329,040)
SiTime Corp.

(13,354)

             (7,550,619)
Teledyne Technologies, Inc.

(2,797)

             (1,714,421)
Universal Display Corp.

(24,030)

             (1,998,575)
Waters Corp.

(16,547)

             (6,860,883)




             (103,096,696)





Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services - (0.6)%

Core Scientific, Inc.

(234,770)

             (3,826,751)
Tempus AI, Inc. - Class A

(24,219)

             (1,527,008)




             (5,353,759)







Credit Intermediation and Related Activities - (2.5)%

Coinbase Global, Inc. - Class A

(15,355)

             (2,888,583)
Eastern Bankshares, Inc.

(34,270)

             (752,569)
Fifth Third Bancorp

(72,354)

             (3,890,475)
Flagstar Bank NA

(150,852)

             (2,007,840)
Old National Bancorp

(69,270)

             (1,771,927)
Pinnacle Financial Partners, Inc.

(16,513)

             (1,650,805)
Prosperity Bancshares, Inc.

(14,631)

             (1,046,994)
Renasant Corp.

(39,726)

             (1,625,191)
Rocket Cos., Inc. - Class A

(252,240)

             (3,382,538)
SouthState Bank Corporation

(16,270)

             (1,706,560)
Western Alliance Bancorp

(25,541)

             (1,995,518)




             (22,719,000)





Electrical Equipment, Appliance, and Component Manufacturing - (0.5)%

Novanta, Inc.

(19,900)

             (2,909,778)
SharkNinja, Inc.

(7,512)

             (1,445,985)




             (4,355,763)





Fabricated Metal Product Manufacturing - (0.2)%

Axon Enterprise, Inc.

(2,966)

             (1,680,417)





Food and Beverage Retailers - (0.2)%

Dutch Bros, Inc. - Class A

(33,155)

             (1,619,953)





Food Manufacturing - (0.2)%

McCormick & Co., Inc.

(37,281)

             (2,021,376)





Food Services and Drinking Places - (0.3)%

Cava Group, Inc.

(31,207)

             (2,051,860)
Wingstop, Inc.

(9,467)

             (1,036,447)




             (3,088,307)





Furniture and Related Product Manufacturing - (0.2)%

Somnigroup International, Inc.

(22,596)

             (1,463,091)





Furniture, Home Furnishings, Electronics, and Appliance Retailers - (0.8)%

CoreWeave, Inc. - Class A

(51,097)

             (4,337,625)
Floor & Decor Holdings, Inc. - Class A

(63,886)

             (3,211,549)




             (7,549,174)





General Merchandise Retailers - (1.0)%

BJ's Wholesale Club Holdings, Inc.

(34,131)

             (3,093,975)
Burlington Stores, Inc.

(3,436)

             (892,536)
Costco Wholesale Corp.

(4,161)

             (3,927,526)
Ollie's Bargain Outlet Holdings, Inc.

(19,362)

             (1,460,282)




             (9,374,319)





Heavy and Civil Engineering Construction - (0.0)% (b)

Howard Hughes Holdings, Inc.

(5,961)

             (382,279)





Insurance Carriers and Related Activities - (1.0)%

Arthur J Gallagher & Co.

(11,413)

             (2,991,918)
Brown & Brown, Inc.

(27,219)

             (1,964,395)
Kinsale Capital Group, Inc.

(2,556)

             (955,689)


Markel Group, Inc.

(688)

             (1,240,402)
Ryan Specialty Holdings, Inc.

(41,350)

             (1,744,143)




             (8,896,547)





Machinery Manufacturing - (1.2)%

Deere & Co.

(3,623)

             (2,372,739)
Esab Corp.

(14,350)

             (1,081,703)
Flowserve Corp.

(28,152)

             (2,226,542)
Ingersoll Rand, Inc.

(13,155)

             (1,013,593)
ITT, Inc.

(10,415)

             (2,086,020)
JBT Marel Corp.

(19,198)

             (2,243,670)




             (11,024,267)





Management of Companies and Enterprises - (0.8)%

Glacier Bancorp, Inc.

(37,863)

             (1,753,436)
On Holding AG - Class A

(35,671)

             (1,016,623)
Rivian Automotive, Inc. - Class A

(198,127)

             (3,181,920)
U-Haul Holding Co.

(27,921)

             (1,666,046)




             (7,618,025)





Merchant Wholesalers, Durable Goods - (0.4)%

Copart, Inc.

(32,175)

             (1,061,453)
Genuine Parts Co.

(11,714)

             (1,589,239)
Pool Corp.

(6,908)

             (1,288,480)




             (3,939,172)





Merchant Wholesalers, Nondurable Goods - (0.4)%

Chefs' Warehouse, Inc.

(10,604)

             (1,192,632)
Praxis Precision Medicines, Inc.

(7,154)

             (2,506,046)




             (3,698,678)





Mining (except Oil and Gas) - (0.9)%

Coeur Mining, Inc.

(83,103)

             (1,726,880)
Core Natural Resources, Inc.

(24,432)

             (2,499,394)
Martin Marietta Materials, Inc.

(3,292)

             (1,707,560)
Uranium Energy Corp.

(188,248)

             (2,304,156)




             (8,237,990)





Miscellaneous Manufacturing - (0.9)%

Boston Scientific Corp.

(73,011)

             (3,526,432)
Cooper Cos., Inc.

(15,543)

             (1,089,409)
Medline, Inc.

(38,607)

             (1,352,403)
ResMed, Inc.

(8,122)

             (1,950,092)




             (7,918,336)





Motion Picture and Sound Recording Industries - (0.6)%

TKO Group Holdings, Inc.

(27,213)

             (4,969,366)





Motor Vehicle and Parts Dealers - (1.2)%

AutoZone, Inc.

(1,379)

             (4,124,920)
Carvana Co.

(63,039)

             (4,630,845)
O'Reilly Automotive, Inc.

(25,435)

             (2,258,628)




             (11,014,393)





Nonmetallic Mineral Product Manufacturing - (0.1)%

James Hardie Industries PLC

(41,764)

             (1,240,808)







Oil and Gas Extraction - (1.0)%

Devon Energy Corp.

(46,708)

             (2,265,805)
EQT Corp.

(42,273)

             (2,290,351)
Expand Energy Corp.

(24,446)

             (2,399,619)
Golar LNG Ltd.

(41,067)

             (2,114,540)




             (9,070,315)





Performing Arts, Spectator Sports, and Related Industries - (0.1)%

Flutter Entertainment PLC

(12,244)

             (1,226,604)





Professional, Scientific, and Technical Services - (2.9)%

CG Oncology, Inc.

(22,345)

             (1,679,450)
Figma, Inc. - Class A

(149,338)

             (4,105,302)
Kymera Therapeutics, Inc.

(11,041)

             (1,311,781)
Omnicom Group, Inc.

(36,364)

             (3,182,941)
QXO, Inc.

(161,454)

             (2,144,109)
ServiceNow, Inc.

(30,541)

             (4,519,762)
Take-Two Interactive Software, Inc.

(28,178)

             (6,190,707)
Trade Desk, Inc. - Class A

(59,353)

             (814,323)
VSE Corp.

(9,259)

             (1,932,168)




             (25,880,543)





Publishing Industries - (2.3)%

Applied Digital Corp.

(133,606)

             (3,394,928)
Gitlab, Inc. - Class A

(65,010)

             (3,025,565)
HubSpot, Inc.

(12,788)

             (3,342,272)
Nebius Group NV

(14,084)

             (2,905,811)
Strategy, Inc. - Class A

(30,422)

             (4,044,301)
Synopsys, Inc.

(10,005)

             (4,398,098)




             (21,110,975)





Repair and Maintenance - (0.4)%

BitMine Immersion Technologies, Inc.

(142,625)

             (3,611,265)





Securities, Commodity Contracts, and Other Financial Investments and Related Activities - (4.3)%

Apollo Global Management, Inc.

(13,654)

             (1,864,863)
Ares Management Corp. - Class A

(20,452)

             (2,928,113)
Aurora Innovation, Inc.

(738,245)

             (4,156,319)
Blackstone, Inc.

(20,096)

             (2,878,551)
Houlihan Lokey, Inc.

(16,708)

             (2,227,009)
IonQ, Inc.

(107,033)

             (4,207,467)
KKR & Co., Inc.

(30,632)

             (3,360,943)
LPL Financial Holdings, Inc.

(5,160)

             (1,909,897)
Rigetti Computing, Inc.

(153,583)

             (2,405,110)
Robinhood Markets, Inc. - Class A

(26,597)

             (2,787,632)
Roivant Sciences Ltd.

(86,264)

             (2,988,185)
SoFi Technologies, Inc.

(192,320)

             (3,438,682)
StepStone Group, Inc. - Class A

(68,235)

             (3,565,961)




             (38,718,732)





Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers - (0.8)%

Dick's Sporting Goods, Inc.

(19,359)

             (2,615,401)
DoorDash, Inc. - Class A

(8,824)

             (2,044,874)
Tractor Supply Co.

(64,168)

             (2,239,463)




             (6,899,738)







Support Activities for Mining - (0.4)%

MP Materials Corp.

(33,182)

             (1,816,714)
Royal Gold, Inc.

(5,338)

             (1,395,727)




             (3,212,441)





Telecommunications - (0.5)%

Telephone and Data Systems, Inc.

(129,187)

             (4,351,018)





Transportation Equipment Manufacturing - (2.0)%

AeroVironment, Inc.

(11,750)

             (1,743,112)
Boeing Co.

(8,940)

             (1,857,553)
Firefly Aerospace, Inc.

(59,639)

             (1,259,576)
Honeywell International, Inc.

(9,296)

             (1,984,975)
Joby Aviation, Inc.

(170,271)

             (1,164,654)
Rocket Lab Corp.

(26,013)

             (1,662,751)
Tesla, Inc.

(9,130)

             (3,359,383)
Thor Industries, Inc.

(38,796)

             (2,948,496)
TransDigm Group, Inc.

(1,567)

             (1,836,117)




             (17,816,617)





Truck Transportation - (0.1)%

Saia, Inc.

(3,467)

             (1,231,236)





Utilities - (1.6)%

Constellation Energy Corp.

(10,028)

             (2,755,393)
MDU Resources Group, Inc.

(65,560)

             (1,305,955)
Ormat Technologies, Inc.

(15,632)

             (1,594,464)
Sempra

(33,470)

             (2,734,499)
Texas Pacific Land Corp.

(6,958)

             (2,604,658)
Venture Global, Inc. - Class A

(111,242)

             (1,628,583)
Xcel Energy, Inc.

(26,514)

             (2,006,845)




             (14,630,397)





Waste Management and Remediation Services - (0.2)%

Casella Waste Systems, Inc. - Class A

(10,747)

             (991,411)
Republic Services, Inc.

(3,105)

             (685,956)




             (1,677,367)





Web Search Portals, Libraries, Archives, and Other Information Services - (0.4)%

CoStar Group, Inc.

(11,529)

             (369,735)
Pinterest, Inc. - Class A

(134,213)

             (2,913,764)




             (3,283,499)





Wood Product Manufacturing - (0.5)%

Builders FirstSource, Inc.

(31,744)

             (2,107,802)
Louisiana-Pacific Corp.

(29,669)

             (2,091,961)




             (4,199,763)
TOTAL COMMON STOCKS (Proceeds $483,465,012)

             (465,916,373)





EXCHANGE TRADED FUNDS - (3.1)%

Shares

Value
Funds, Trusts, and Other Financial Vehicles - (3.1)%
Invesco QQQ Trust Series 1

(7,194)

             (5,156,371)
iShares Core S&P 500 ETF

(7,098)

             (5,470,713)
iShares Semiconductor ETF

(33,567)

             (17,154,080)
TOTAL EXCHANGE TRADED FUNDS (Proceeds $28,596,005)

             (27,781,164)





REAL ESTATE INVESTMENT TRUSTS - (1.1)%

Shares

Value


Real Estate - (0.9)%

American Healthcare REIT, Inc.

(29,068)

             (1,604,844)
Crown Castle, Inc.

(11,419)

             (869,443)
Digital Realty Trust, Inc.

(7,870)

             (1,460,593)
Equinix, Inc.

(1,619)

             (1,694,640)
Macerich Co.

(81,737)

             (1,930,628)
Public Storage

(3,306)

             (1,014,909)




             (8,575,057)





Warehousing and Storage - (0.2)%

Iron Mountain, Inc.

(14,524)

             (1,675,343)
TOTAL REAL ESTATE INVESTMENT TRUSTS (Proceeds $10,332,485)

             (10,250,400)





TOTAL SECURITIES SOLD SHORT - (56.0)% (Proceeds $522,393,502)



    $        (503,947,937)





Percentages are stated as a percent of net assets.









PLC – Public Limited Company
REIT – Real Estate Investment Trust




(a)

To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect that industry or sector.
(b)

Represents less than 0.05% of net assets.
























Summary of Fair Value Disclosure as of August 31, 2026 (Unaudited)

Convergence Long/Short Equity 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 August 31, 2026:



Level 1

Level 2

Level 3

Total
Assets:







Investments:







  Common Stocks
    $        1,023,312,264

    $        –

    $        –

    $        1,023,312,264
  Real Estate Investment Trusts
            20,878,132

            –

            –

            20,878,132
  Money Market Funds
            793,038

            –

            –

            793,038
Total Investments
    $        1,044,983,434

    $        –

    $        –

    $        1,044,983,434








Liabilities:







  Common Stocks
    $        (465,916,373)

    $        –

    $        –

    $        (465,916,373)
  Exchange Traded Funds
            (27,781,164)

            –

            –

            (27,781,164)
  Real Estate Investment Trusts
            (10,250,400)

            –

            –

            (10,250,400)
Total Short Securities
    $        (503,947,937)

    $        –

    $        –

    $        (503,947,937)



 

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