CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
COMMON STOCKS - 98.7%

Communication Services - 6.2%

Cable & Satellite - 1.5%




Charter Communications, Inc. - Class A (a)

            2,571

$391,851 





Interactive Media & Services - 1.7%




Alphabet, Inc. - Class A

            710

240,939 
Meta Platforms, Inc. - Class A

            324

185,438 




426,377 
Movies & Entertainment - 1.9%




Walt Disney Co.

            2,151

231,340 
Warner Bros Discovery, Inc. (a)

            8,561

244,246 




475,586 
Publishing - 1.1%




News Corp. - Class B

            7,820

269,086 
Total Communication Services

1,562,900 





Consumer Discretionary - 14.4%

Apparel Retail - 1.1%




Urban Outfitters, Inc. (a)

            3,419

275,879 





Automobile Manufacturers - 0.9%




General Motors Co.

            2,758

238,070 





Automotive Retail - 2.0%




AutoNation, Inc. (a)

            1,151

231,639 
Lithia Motors, Inc.

            737

270,715 




502,354 
Broadline Retail - 0.7%




Ollie's Bargain Outlet Holdings, Inc. (a)

            2,251

169,770 





Casinos & Gaming - 1.2%




MGM Resorts International (a)

            7,206

298,040 





Education Services - 1.8%




Grand Canyon Education, Inc. (a)

            1,388

205,605 
Laureate Education, Inc. (a)

            6,946

260,683 




466,288 
Footwear - 0.8%




Deckers Outdoor Corp. (a)

            2,416

210,385 





1

CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
Homebuilding - 1.7%




NVR, Inc. (a)

            32

$202,088 
PulteGroup, Inc.

            1,876

236,976 




439,064 
Homefurnishing Retail - 0.9%




Wayfair, Inc. - Class A (a)

            2,247

223,060 





Hotels, Resorts & Cruise Lines - 1.8%




Carnival Corp. Ltd.

            7,716

184,335 
Expedia Group, Inc.

            872

276,529 




460,864 
Leisure Products - 0.7%




Mattel, Inc. (a)

            11,627

173,824 





Other Specialty Retail - 0.8%




Ulta Beauty, Inc. (a)

            377

202,487 
Total Consumer Discretionary

3,660,085 





Consumer Staples - 4.4%

Consumer Staples Merchandise Retail - 1.0%




Dollar Tree, Inc. (a)

            2,030

256,977 





Food Distributors - 2.1%




Performance Food Group Co. (a)

            2,439

241,876 
US Foods Holding Corp. (a)

            2,843

298,060 




539,936 
Food Retail - 1.3%




Maplebear, Inc. (a)

            6,413

323,985 
Total Consumer Staples

1,120,898 





Financials - 8.8%

Asset Management & Custody Banks - 1.1%




Affiliated Managers Group, Inc.

            767

282,402 





Commercial & Residential Mortgage Finance - 1.4%




Federal Home Loan Mortgage Corp. (a)

            32,465

180,830 
Federal National Mortgage Association (a)

            28,504

174,444 




355,274 
Diversified Banks - 1.0%




First Citizens BancShares, Inc. - Class A

            120

259,728 





Multi-Sector Holdings - 1.0%




Berkshire Hathaway, Inc. - Class B (a)

            502

253,023 





2

CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
Property & Casualty Insurance - 2.4%




Lemonade, Inc. (a)

            2,667

$139,298 
Loews Corp.

            2,300

249,067 
Markel Group, Inc. (a)

            120

216,349 




604,714 
Regional Banks - 1.0%




Axos Financial, Inc. (a)

            2,556

247,395 





Transaction & Payment Processing Services - 0.9%




PayPal Holdings, Inc.

            4,513

237,677 
Total Financials

2,240,213 





Health Care - 21.7%

Biotechnology - 8.7%




Exelixis, Inc. (a)

            5,624

307,295 
Ionis Pharmaceuticals, Inc. (a)

            2,851

172,086 
Natera, Inc. (a)

            1,034

332,906 
Regeneron Pharmaceuticals, Inc.

            321

256,505 
Revolution Medicines, Inc. (a)

            2,414

496,246 
Roivant Sciences Ltd. (a)

            10,837

375,394 
United Therapeutics Corp. (a)

            510

260,294 




2,200,726 
Health Care Distributors - 3.0%




Cencora, Inc.

            672

217,459 
Henry Schein, Inc. (a)

            3,205

287,809 
McKesson Corp.

            289

255,858 




761,126 
Health Care Equipment - 0.8%




Globus Medical, Inc. - Class A (a)

            2,650

215,630 





Health Care Facilities - 2.5%




PACS Group, Inc. (a)

            7,092

300,063 
Tenet Healthcare Corp. (a)

            1,263

335,844 




635,907 
Life Sciences Tools & Services - 3.2%




Charles River Laboratories International, Inc. (a)

            1,118

322,252 
Medpace Holdings, Inc. (a)

            404

239,972 
Thermo Fisher Scientific, Inc.

            404

249,309 




811,533 
Managed Health Care - 1.0%




Molina Healthcare, Inc. (a)

            1,281

254,624 





Pharmaceuticals - 2.5%




Eli Lilly & Co.

            233

269,518 
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CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
Jazz Pharmaceuticals PLC (a)

            1,458

$365,492 




635,010 
Total Health Care

5,514,556 





Industrials - 19.3%

Aerospace & Defense - 1.7%




Boeing Co. (a)

            1,009

209,650 
Textron, Inc.

            2,722

219,284 




428,934 
Air Freight & Logistics - 0.8%




GXO Logistics, Inc. (a)

            4,163

198,700 





Building Products - 1.5%




Builders FirstSource, Inc. (a)

            2,074

137,713 
Zurn Elkay Water Solutions Corp.

            5,172

247,222 




384,935 
Construction & Engineering - 4.8%




Comfort Systems USA, Inc.

            203

313,761 
EMCOR Group, Inc.

            326

239,460 
Primoris Services Corp.

            1,572

113,357 
Sterling Infrastructure, Inc. (a)

            632

297,084 
Valmont Industries, Inc.

            536

251,738 




1,215,400 
Construction Machinery & Heavy Transportation Equipment - 1.2%




Westinghouse Air Brake Technologies Corp.

            1,028

293,936 





Electrical Components & Equipment - 1.9%




AMETEK, Inc.

            1,060

249,280 
EnerSys

            1,290

237,180 




486,460 
Heavy Electrical Equipment - 1.2%




GE Vernova, Inc.

            339

304,602 





Industrial Machinery & Supplies & Components - 2.0%




Gates Industrial Corp. Ltd. (a)

            10,282

263,014 
ITT, Inc.

            1,297

259,776 




522,790 
Marine Transportation - 1.1%




Kirby Corp. (a)

            1,964

278,613 





Passenger Airlines - 0.7%




Alaska Air Group, Inc. (a)

            4,505

186,192 





4

CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
Research & Consulting Services - 1.3%




Amentum Holdings, Inc. (a)

            6,509

$130,115 
FTI Consulting, Inc. (a)

            1,385

208,539 




338,654 
Trading Companies & Distributors - 1.1%




WESCO International, Inc.

            826

281,170 
Total Industrials

4,920,386 





Information Technology - 19.1%

Application Software - 3.1%




Adobe, Inc. (a)

            824

241,259 
Docusign, Inc. (a)

            4,525

299,872 
Zoom Communications, Inc. (a)

            2,618

253,108 




794,239 
Communications Equipment - 2.7%




F5, Inc. (a)

            853

347,282 
Viasat, Inc. (a)

            5,154

346,709 




693,991 
Electronic Equipment & Instruments - 0.9%




Teledyne Technologies, Inc. (a)

            384

235,373 





Electronic Manufacturing Services - 3.9%




Flex Ltd. (a)

            3,628

396,359 
Jabil, Inc.

            986

300,986 
Sanmina Corp. (a)

            1,543

303,539 




1,000,884 
Internet Services & Infrastructure - 1.8%




Twilio, Inc. - Class A (a)

            1,946

458,536 





IT Consulting & Other Services - 1.4%




EPAM Systems, Inc. (a)

            1,163

137,036 
Gartner, Inc. (a)

            1,136

225,053 




362,089 
Semiconductor Materials & Equipment - 0.9%




Amkor Technology, Inc.

            4,776

225,905 





Semiconductors - 2.7%




Advanced Micro Devices, Inc. (a)

            965

454,245 
First Solar, Inc. (a)

            1,073

216,639 




670,884 
Systems Software - 1.7%




JFrog Ltd. (a)

            4,249

425,197 
Total Information Technology

4,867,098 





5

CAMBRIA TAX AWARE ETF
SCHEDULE OF INVESTMENTS
August 31, 2026 (Unaudited)
Shares  

Value  
Materials - 1.6%

Aluminum - 0.8%




Alcoa Corp.

            3,929

$196,254 





Diversified Metals & Mining - 0.8%




MP Materials Corp. (a)

            3,934

215,386 
Total Materials

411,640 





Real Estate - 2.3%

Real Estate Services - 2.3%




CBRE Group, Inc. - Class A (a)

            1,399

203,988 
Jones Lang LaSalle, Inc. (a)

            671

245,499 
Opendoor Technologies, Inc. (a)

            42,678

136,570 
Total Real Estate

586,057 





Utilities - 0.9%

Electric Utilities - 0.9%




Constellation Energy Corp.

            834

229,158 
TOTAL COMMON STOCKS (Cost $22,017,479)

25,112,991 





SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 1.3%
First American Government Obligations Fund - Class X, 3.59% (b)

            329,581

329,581 
TOTAL MONEY MARKET FUNDS (Cost $329,581)

329,581 





TOTAL INVESTMENTS - 100.0% (Cost $22,347,060)

$25,442,572 
Other Assets in Excess of Liabilities - 0.0% (c)
3,532 
TOTAL NET ASSETS - 100.0%



$25,446,104 

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 August 31, 2026.
(c)
Represents less than 0.05% of net assets.

The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.


6


CAMBRIA TAX AWARE ETF

Summary of Fair Value Disclosure as of August 31, 2026 (Unaudited)
 
Cambria Tax Aware 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 August 31, 2026:

DESCRIPTIONLEVEL 1LEVEL 2LEVEL 3TOTAL
Investments
Common Stocks
$25,112,991 

$— $— 

$25,112,991 
Money Market Funds
329,581 

— — 

329,581 
Total Investments$25,442,572 

$— $— 

$25,442,572 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
During the fiscal period ended August 31, 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.

7