A

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6%      
    ADVERTISING & MARKETING - 0.2%      
191,314   TechTarget, Inc.(a)       $ 740,385
             
    AEROSPACE & DEFENSE - 0.9%      
4,837   AAR Corporation(a)         625,376
49,667   Amprius Technologies, Inc.(a)         490,710
6,850   Hexcel Corporation         634,790
38,263   Innovative Solutions and Support, Inc.(a)         726,997
56,812   Redwire Corporation(a)         607,888
             

3,085,761

    APPAREL & TEXTILE PRODUCTS - 0.4%      
17,564   Movado Group, Inc.         592,434
19,755   Oxford Industries, Inc.         756,419
             

1,348,853

    ASSET MANAGEMENT - 0.9%      
9,049   Cohen & Steers, Inc.         729,983
65,534   Compass Diversified Holdings(a)         757,573
17,421   Hannon Armstrong Sustainable Infrastructure Capital, Inc.         689,001
6,520   Oppenheimer Holdings, Inc., Class A         774,510
             

2,951,067

    AUTOMOTIVE - 2.7%      
37,065   Adient plc(a)         703,123
24,738   Aeva Technologies, Inc.(a)         387,397
25,622   Cooper-Standard Holdings, Inc.(a)         686,157
25,292   Dana, Inc.         758,254
127,421   Dauch Corporation(a)         797,655
40,647   Fox Factory Holding Corporation(a)         830,418
26,988   Gentex Corporation         603,722
20,103   Gentherm, Inc.(a)         789,847
104,248   Goodyear Tire & Rubber Company (The)(a)         653,635
156,884   indie Semiconductor, Inc., Class A(a),(b)         582,824
5,131   Lear Corporation         641,324
701,217   SES AI Corporation(a)         364,422
17,416   Standard Motor Products, Inc.         656,932
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    AUTOMOTIVE - 2.7% (Continued)      
6,978   Visteon Corporation       $ 710,500
             

9,166,210

    BANKING - 12.6%      
8,385   1st Source Corporation         718,008
22,144   Alerus Financial Corporation         728,538
7,588   Ameris Bancorp         639,289
6,186   BancFirst Corporation         675,635
14,124   BankUnited, Inc.         644,054
18,068   Bar Harbor Bankshares         708,808
32,569   Bridgewater Bancshares, Inc.(a)         686,229
18,187   Byline Bancorp, Inc.         689,651
12,686   Camden National Corporation         716,505
13,831   Capital City Bank Group, Inc.         698,189
20,199   ChoiceOne Financial Services, Inc.         670,809
5,188   City Holding Company         741,625
10,241   Community Financial System, Inc.         642,623
8,662   Customers Bancorp, Inc.(a)         677,195
24,151   Eagle Bancorp, Inc.         659,081
46,881   Farmers National Banc Corporation         731,812
12,383   FB Financial Corporation         705,336
38,914   First Bank         692,669
23,226   First Busey Corporation         699,103
33,626   First Commonwealth Financial Corporation         696,058
20,300   First Financial Bancorp         662,389
19,813   First Financial Bankshares, Inc.         658,386
17,850   First Interstate BancSystem, Inc., Class A         657,059
15,687   First Merchants Corporation         650,540
14,160   Five Star Bancorp         648,811
45,998   Flagstar Financial, Inc.         612,233
35,721   FNB Corporation         651,194
28,321   Fulton Financial Corporation         664,411
13,264   Glacier Bancorp, Inc.         614,256
8,746   Great Southern Bancorp, Inc.         684,549
17,613   Hilltop Holdings, Inc.         670,175
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    BANKING - 12.6% (Continued)      
23,932   Home BancShares, Inc.       $ 705,037
50,141   Hope Bancorp, Inc.         691,444
34,281   Horizon Bancorp, Inc.         665,737
8,997   International Bancshares Corporation         631,230
11,121   Lakeland Financial Corporation         657,140
16,682   Live Oak Bancshares, Inc.         657,104
11,953   Mercantile Bank Corporation         714,311
13,666   Merchants Bancorp         719,378
13,889   NBT Bancorp, Inc.         714,172
45,210   Northwest Bancshares, Inc.         691,261
17,930   Peoples Bancorp, Inc.         705,904
9,448   Prosperity Bancshares, Inc.         676,099
16,097   Renasant Corporation         658,528
7,559   Republic Bancorp, Inc., Class A         706,842
13,982   S&T Bancorp, Inc.         691,829
15,688   ServisFirst Bancshares, Inc.         675,212
16,894   Sierra Bancorp         669,340
30,187   Simmons First National Corporation, Class A         681,622
14,592   SmartFinancial, Inc.         737,626
19,525   Southside Bancshares, Inc.         616,209
6,607   Texas Capital Bancshares, Inc.         642,068
38,674   TFS Financial Corporation         675,635
17,030   Third Coast Bancshares, Inc.(a)         759,537
18,869   Towne Bank         698,908
14,960   United Bankshares, Inc.         705,065
19,388   United Community Banks, Inc.         675,478
11,678   Unity Bancorp, Inc.         677,674
46,517   Valley National Bancorp         634,492
18,848   Washington Trust Bancorp, Inc.         737,522
17,513   WesBanco, Inc.         700,695
11,660   Westamerica BanCorporation         676,863
             

42,245,182

 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    BEVERAGES - 0.2%      
85,290   Westrock Coffee Company(a)       $ 664,409
             
    BIOTECH & PHARMA - 3.6%      
81,446   ADMA Biologics, Inc.(a)         764,778
18,402   Agios Pharmaceuticals, Inc.(a)         619,779
26,207   Arcutis Biotherapeutics, Inc.(a)         628,182
135,222   Ardelyx, Inc.(a)         511,139
68,561   BioCryst Pharmaceuticals, Inc.(a)         665,042
46,309   Biohaven Ltd.(a)         707,138
107,336   Certara, Inc.(a)         889,816
8,017   Cytokinetics, Inc.(a)         568,485
528,951   Geron Corporation(a)         788,137
27,040   Pacira BioSciences, Inc.(a)         700,336
120,060   Precigen, Inc.(a)         832,016
14,390   Prestige Consumer Healthcare, Inc.(a)         745,114
5,521   Protagonist Therapeutics, Inc.(a)         815,728
8,319   PTC Therapeutics, Inc.(a)         578,503
31,191   Syndax Pharmaceuticals, Inc.(a)         601,674
17,076   Viking Therapeutics, Inc.(a)         559,751
41,948   Xencor, Inc.(a)         1,143,713
             

12,119,331

    CABLE & SATELLITE - 0.1%      
12,791   Cable One, Inc.(a)         350,218
             
    CHEMICALS - 3.9%      
34,977   AdvanSix, Inc.         587,963
18,587   Avient Corporation         818,943
4,050   Balchem Corporation         712,355
7,515   Cabot Corporation         621,566
19,136   Calumet, Inc.(a)         951,634
33,721   Chemours Company (The)         524,699
55,235   Ecovyst, Inc.(a)         561,740
4,873   Hawkins, Inc.         586,076
11,598   HB Fuller Company         637,310
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    CHEMICALS - 3.9% (Continued)      
9,101   Ingevity Corporation(a)       $ 630,608
8,363   Innospec, Inc.         784,951
2,313   Materion Corporation         546,053
9,320   Minerals Technologies, Inc.         660,974
102,237   Orion S.A.         637,959
4,267   Quaker Chemical Corporation         707,469
4,150   Rogers Corporation(a)         521,116
5,584   Sensient Technologies Corporation         753,505
12,315   Stepan Company         771,042
109,236   Tronox Holdings PLC, Class A         577,858
2,802   WD-40 Company         600,048
             

13,193,869

    COMMERCIAL SUPPORT SERVICES - 3.1%      
15,427   ABM Industries, Inc.         719,361
14,670   Alarm.com Holdings, Inc.(a)         844,405
7,501   Brady Corporation, Class A         679,966
48,404   BrightView Holdings, Inc.(a)         537,768
7,207   Brink's Company (The)         785,059
21,180   CBIZ, Inc.(a)         1,154,097
4,836   CRA International, Inc.         843,882
25,185   Distribution Solutions Group, Inc.(a)         876,186
16,596   Insperity, Inc.         885,397
14,470   Kforce, Inc.         833,183
33,543   Target Hospitality Corporation(a)         621,216
2,585   UniFirst Corporation         715,011
8,857   Willdan Group, Inc.(a)         778,973
             

10,274,504

    CONSTRUCTION MATERIALS - 0.7%      
14,926   Apogee Enterprises, Inc.         583,010
107,111   Aspen Aerogels, Inc.(a)         528,057
4,621   Northwest Pipe Company(a)         507,940
13,722   Trex Company, Inc.(a)         625,449
             

2,244,456

 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    CONSUMER SERVICES - 1.4%      
120,910   Coursera, Inc.(a)       $ 788,334
598   Graham Holdings Company, Class B         675,076
4,755   Grand Canyon Education, Inc.(a)         704,358
18,799   Laureate Education, Inc., Class A(a)         705,526
13,682   Lincoln Educational Services Corporation(a)         344,239
25,652   Matthews International Corporation, Class A         532,792
15,948   Universal Technical Institute, Inc.(a)         336,981
32,460   Upbound Group, Inc.         594,018
             

4,681,324

    CONTAINERS & PACKAGING - 1.3%      
20,504   Karat Packaging, Inc.         976,810
19,557   Myers Industries, Inc.         627,584
71,309   O-I Glass, Inc.(a)         518,416
93,318   Ranpak Holdings Corporation(a)         443,261
14,718   Silgan Holdings, Inc.         611,386
12,106   Sonoco Products Company         667,646
15,196   TriMas Corporation         589,301
             

4,434,404

    E-COMMERCE DISCRETIONARY - 0.2%      
29,564   Revolve Group, Inc.(a)         656,912
             
    ELECTRIC UTILITIES - 1.3%      
9,112   Black Hills Corporation         653,148
50,698   Hawaiian Electric Industries, Inc.(a)         568,832
4,498   IDACORP, Inc.         612,448
8,358   MGE Energy, Inc.         649,333
6,266   Ormat Technologies, Inc.         639,132
12,035   TXNM Energy, Inc.         693,335
12,914   Unitil Corporation         691,416
             

4,507,644

    ELECTRICAL EQUIPMENT - 2.2%      
5,335   AAON, Inc.         405,300
1,832   Advanced Energy Industries, Inc.         507,208
867   Argan, Inc.         368,466
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    ELECTRICAL EQUIPMENT - 2.2% (Continued)      
4,643   Badger Meter, Inc.       $ 628,987
5,687   Belden, Inc.         650,934
9,437   Cognex Corporation         575,280
1,955   ESCO Technologies, Inc.         533,774
7,921   Itron, Inc.(a)         768,415
27,209   Kimball Electronics, Inc.(a)         642,677
78,010   Lightbridge Corporation(a)         587,415
2,571   Modine Manufacturing Company(a)         458,744
3,109   OSI Systems, Inc.(a)         646,392
14,327   Sensata Technologies Holding PLC         587,837
             

7,361,429

    ENGINEERING & CONSTRUCTION - 0.7%      
11,689   Exponent, Inc.         830,036
3,010   Installed Building Products, Inc.         730,918
1,378   MYR Group, Inc.(a)         401,577
7,061   Primoris Services Corporation         509,169
             

2,471,700

    FOOD - 2.7%      
8,530   Cal-Maine Foods, Inc.         673,188
12,495   Darling Ingredients, Inc.(a)         828,044
86,646   Flowers Foods, Inc.         599,590
53,501   Herbalife Ltd.(a)         587,976
9,281   J & J Snack Foods Corporation         818,399
7,889   John B Sanfilippo & Son, Inc.         581,340
23,162   Lifeway Foods, Inc.(a)         602,907
5,999   Marzetti Company (The)         675,787
6,748   Nathan's Famous, Inc.         660,359
7,758   Post Holdings, Inc.(a)         646,707
32,413   USANA Health Sciences, Inc.(a)         462,209
88,895   Utz Brands, Inc.         1,262,309
59,299   Vital Farms, Inc.(a)         633,313
             

9,032,128

    FORESTRY, PAPER & WOOD PRODUCTS - 0.4%      
8,729   Louisiana-Pacific Corporation         615,482
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    FORESTRY, PAPER & WOOD PRODUCTS - 0.4% (Continued)      
18,120   Sylvamo Corporation       $ 650,870
             

1,266,352

    GAS & WATER UTILITIES - 1.9%      
8,240   American States Water Company         735,750
5,566   Chesapeake Utilities Corporation         743,284
32,097   MDU Resources Group, Inc.         639,372
12,081   Middlesex Water Company         700,698
12,115   New Jersey Resources Corporation         646,214
8,775   ONE Gas, Inc.         695,594
7,654   Southwest Gas Holdings, Inc.         676,078
8,729   Spire, Inc.         714,381
22,196   York Water Company (The)         756,440
             

6,307,811

    HEALTH CARE FACILITIES & SERVICES - 1.8%      
23,376   Acadia Healthcare Company, Inc.(a)         644,243
6,862   Addus HomeCare Corporation(a)         786,866
6,182   agilon health, Inc.(a)         543,336
10,966   CorVel Corporation(a)         755,338
70,746   Ginkgo Bioworks Holdings, Inc.(a)         481,780
3,240   National HealthCare Corporation         701,557
47,446   NeoGenomics, Inc.(a)         849,757
11,196   RadNet, Inc.(a)         848,881
40,964   Surgery Partners, Inc.(a)         568,990
             

6,180,748

    HEALTH CARE REIT - 0.9%      
16,847   CareTrust REIT, Inc.         656,191
71,548   Diversified Healthcare Trust         541,618
147,462   Medical Properties Trust, Inc.         585,424
8,911   National Health Investors, Inc.         633,661
34,745   Sabra Health Care REIT, Inc.         708,451
             

3,125,345

    HOME & OFFICE PRODUCTS - 0.2%      
17,013   HNI Corporation         823,940
             
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    HOME CONSTRUCTION - 1.6%      
8,645   Green Brick Partners, Inc.(a)       $ 624,342
7,015   Griffon Corporation         683,191
19,201   Interface, Inc.         728,102
465,874   JELD-WEN Holding, Inc.(a)         1,113,440
10,960   KB Home         584,168
10,743   LGI Homes, Inc.(a)         600,963
4,256   M/I Homes, Inc.(a)         633,335
8,173   Meritage Homes Corporation         567,451
             

5,534,992

    HOTEL REIT - 1.2%      
55,802   DiamondRock Hospitality Company         686,923
34,913   Pebblebrook Hotel Trust         632,624
57,849   RLJ Lodging Trust         638,653
5,268   Ryman Hospitality Properties, Inc.         667,772
78,521   Service Properties Trust         612,464
33,348   Xenia Hotels & Resorts, Inc.         625,275
             

3,863,711

    HOUSEHOLD PRODUCTS - 1.8%      
15,396   Central Garden & Pet Company(a)         661,720
25,019   Edgewell Personal Care Company         718,546
32,170   Energizer Holdings, Inc.         700,663
23,699   Helen of Troy Ltd.(a)         713,340
186,382   Honest Company, Inc. (The)(a)         1,066,104
6,105   Interparfums, Inc.         716,910
131,078   Nu Skin Enterprises, Inc., Class A         614,756
36,923   Quanex Building Products Corporation         709,660
             

5,901,699

    INDUSTRIAL INTERMEDIATE PRODUCTS - 1.0%      
1,810   Enpro, Inc.         536,158
15,327   Gibraltar Industries, Inc.(a)         689,563
123,191   Janus International Group, Inc.(a)         611,027
1,896   Standex International Corporation         549,195
4,695   Timken Company (The)         565,513
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    INDUSTRIAL INTERMEDIATE PRODUCTS - 1.0% (Continued)      
1,185   Valmont Industries, Inc.       $ 556,547
             

3,508,003

    INDUSTRIAL REIT - 0.4%      
11,082   First Industrial Realty Trust, Inc.         685,754
12,615   LXP Industrial Trust         765,858
             

1,451,612

    INDUSTRIAL SUPPORT SERVICES - 0.2%      
120,054   Hudson Technologies, Inc.(a)         641,088
             
    INSTITUTIONAL FINANCIAL SERVICES - 0.2%      
26,997   Amerant Bancorp, Inc.         775,084
             
    INSURANCE - 2.1%      
20,046   AMERISAFE, Inc.         521,998
13,462   Employers Holdings, Inc.         660,850
71,539   Genworth Financial, Inc., Class A(a)         711,098
13,226   Horace Mann Educators Corporation         673,071
25,476   Kemper Corporation         717,914
6,364   Mercury General Corporation         648,873
16,557   NMI Holdings, Inc., Class A(a)         734,303
11,617   RLI Corporation         737,331
9,166   Safety Insurance Group, Inc.         950,880
27,909   Trupanion, Inc.(a)         813,547
             

7,169,865

    INTERNET MEDIA & SERVICES - 0.7%      
115,307   Angi, Inc.(a)         536,178
29,203   Groupon, Inc.(a)         560,113
25,232   HealthStream, Inc.         732,989
103,236   Serve Robotics, Inc.(a),(b)         502,759
             

2,332,039

    LEISURE FACILITIES & SERVICES - 0.8%      
8,587   Cheesecake Factory, Inc. (The)         940,190
11,939   Kura Sushi USA, Inc.(a)         545,135
24,126   Lindblad Expeditions Holdings, Inc.(a)         640,787
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    LEISURE FACILITIES & SERVICES - 0.8% (Continued)      
14,431   United Parks & Resorts, Inc.(a)       $ 577,384
             

2,703,496

    LEISURE PRODUCTS - 1.3%      
8,091   Brunswick Corporation         614,107
36,279   Callaway Golf Company(a)         569,943
14,955   Johnson Outdoors, Inc., Class A         672,975
26,702   MasterCraft Boat Holdings, Inc.(a)         621,623
9,951   Polaris, Inc.         642,238
9,059   Thor Industries, Inc.         688,483
21,534   Winnebago Industries, Inc.         647,958
             

4,457,327

    MACHINERY - 2.5%      
9,162   Albany International Corporation, Class A         507,850
11,168   Astec Industries, Inc.         475,198
7,555   CECO Environmental Corporation(a)         537,916
45,659   Columbus McKinnon Corporation         806,338
76,440   Energy Recovery, Inc.(a)         589,352
6,375   Franklin Electric Company, Inc.         638,074
7,465   Gorman-Rupp Company (The)         562,861
7,673   Helios Technologies, Inc.         560,282
19,782   Hyster-Yale, Inc., Class A         669,819
4,724   John Bean Technologies Corporation         552,094
2,175   Kadant, Inc.         650,630
19,492   Kennametal, Inc.         571,895
5,557   Lindsay Corporation         638,555
7,807   Tennant Company         543,367
             

8,304,231

    MEDICAL EQUIPMENT & DEVICES - 4.5%      
29,255   Castle Biosciences, Inc.(a)         966,293
210,423   Embecta Corporation         1,081,574
33,441   Enovis Corporation(a)         822,314
4,850   Glaukos Corporation(a)         870,866
9,065   Haemonetics Corporation(a)         934,330
4,642   ICU Medical, Inc.(a)         802,834
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    MEDICAL EQUIPMENT & DEVICES - 4.5% (Continued)      
37,515   Integra LifeSciences Holdings Corporation(a)       $ 634,754
120,582   Myriad Genetics, Inc.(a)         388,274
77,429   Neogen Corporation(a)         895,079
16,579   Omnicell, Inc.(a)         582,918
74,776   Orthofix Medical, Inc.(a)         702,147
24,198   Pulse Biosciences, Inc.(a)         1,217,885
186,297   SS Innovations International, Inc.(a),(b)         635,273
44,425   Tandem Diabetes Care, Inc.(a)         977,794
6,910   Twist Bioscience Corporation(a)         960,490
2,598   UFP Technologies, Inc.(a)         774,074
66,589   Varex Imaging Corporation(a)         1,231,231
11,639   Veracyte, Inc.(a)         502,688
             

14,980,818

    METALS & MINING - 0.6%      
244,167   American Battery Technology Company(a)         659,251
21,988   Compass Minerals International, Inc.(a)         546,622
44,078   Hecla Mining Company         875,829
             

2,081,702

    MORTGAGE FINANCE - 0.7%      
64,043   Apollo Commercial Real Estate Finance, Inc.         442,537
70,181   MFA Financial, Inc.         618,996
60,455   PennyMac Mortgage Investment Trust         563,441
141,392   Redwood Trust, Inc.         653,231
             

2,278,205

    MULTI ASSET CLASS REIT - 0.6%      
96,946   AH Realty Trust, Inc.         628,210
27,564   American Assets Trust, Inc.         619,087
55,485   Gladstone Commercial Corporation         719,640
             

1,966,937

    OFFICE REIT - 1.3%      
214,723   Brandywine Realty Trust         648,463
126,838   Empire State Realty Trust, Inc., Class A         574,576
22,488   Highwoods Properties, Inc.         688,133
44,055   Hudson Pacific Properties, Inc.(a)         553,771
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    OFFICE REIT - 1.3% (Continued)      
46,004   JBG SMITH Properties       $ 554,348
18,107   Kilroy Realty Corporation         657,284
73,657   Piedmont Realty Trust, Inc., Class A(a)         704,897
             

4,381,472

    OIL & GAS PRODUCERS - 1.5%      
331,704   Clean Energy Fuels Corporation(a)         527,409
97,159   HighPeak Energy, Inc.         795,732
328,477   Kosmos Energy Ltd.(a)         939,444
12,142   Par Pacific Holdings, Inc.(a)         970,389
26,173   SM Energy Company         973,113
135,094   VAALCO Energy, Inc.         802,458
             

5,008,545

    OIL & GAS SERVICES & EQUIPMENT - 2.7%      
52,488   DNOW, Inc.(a)         841,383
46,529   Expro Ltd.(a)         843,105
27,954   Innovex International, Inc.(a)         857,349
8,048   Nabors Industries Ltd.(a)         753,615
23,106   National Energy Services Reunited Corporation(a)         811,252
16,752   Oceaneering International, Inc.(a)         867,083
85,404   Oil States International, Inc.(a)         753,263
47,452   ProPetro Holding Corporation(a)         539,055
117,886   RPC, Inc.         769,796
34,782   Select Water Solutions, Inc., Class A         678,249
59,902   TETRA Technologies, Inc.(a)         413,324
10,241   Tidewater, Inc.(a)         953,641
             

9,081,115

    PUBLISHING & BROADCASTING - 0.4%      
283,030   Clear Channel Outdoor Holdings, Inc.(a)         670,781
14,622   Scholastic Corporation         561,485
             

1,232,266

    REAL ESTATE OWNERS & DEVELOPERS - 0.4%      
5,611   McGrath RentCorporation         630,901
10,943   St Joe Company (The)         723,332
             

1,354,233

 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    REAL ESTATE SERVICES - 0.4%      
21,939   Marcus & Millichap, Inc.       $ 694,589
33,090   RMR Group, Inc. (The), Class A         639,299
             

1,333,888

    RENEWABLE ENERGY - 1.6%      
25,032   Ameresco, Inc., Class A(a)         553,708
93,183   Array Technologies, Inc.(a)         411,869
2,943   EnerSys         541,100
118,895   Eos Energy Enterprises, Inc.(a),(b)         382,842
34,942   Fluence Energy, Inc.(a)         377,723
18,741   FuelCell Energy, Inc.(a)         322,907
461,202   Gevo, Inc.(a)         765,595
44,448   Green Plains, Inc.(a)         642,274
312,037   OPAL Fuels, Inc.(a)         620,954
252,281   Plug Power, Inc.(a)         544,927
73,247   T1 Energy, Inc.(a)         325,949
             

5,489,848

    RESIDENTIAL REIT - 0.8%      
228,706   Apartment Investment and Management Company         574,052
40,796   Independence Realty Trust, Inc.         660,079
24,540   NexPoint Residential Trust, Inc.         581,843
44,799   UMH Properties, Inc.         736,945
             

2,552,919

    RETAIL - CONSUMER STAPLES - 0.4%      
69,953   Grocery Outlet Holding Corporation(a)         835,939
21,685   Natural Grocers by Vitamin Cottage, Inc.         593,518
             

1,429,457

    RETAIL - DISCRETIONARY - 2.0%      
3,422   Asbury Automotive Group, Inc.(a)         723,411
4,664   Avis Budget Group, Inc.(a)         687,893
30,769   Ethan Allen Interiors, Inc.         727,687
365,249   EVgo, Inc.(a),(b)         489,434
17,067   La-Z-Boy, Inc.         540,000
39,915   Monro, Inc.         497,341
36,429   National Vision Holdings, Inc.(a)         622,207
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    RETAIL - DISCRETIONARY - 2.0% (Continued)      
7,624   Patrick Industries, Inc.       $ 623,033
8,088   Sonic Automotive, Inc., Class A         636,121
17,401   Valvoline, Inc.(a)         557,876
1,636   Winmark Corporation         544,330
             

6,649,333

    RETAIL REIT - 1.3%      
32,448   Acadia Realty Trust         664,211
2,438   Alexander's, Inc.         662,307
27,721   Four Corners Property Trust, Inc.         689,698
23,801   Kite Realty Group Trust         614,066
26,863   Macerich Company (The)         634,504
18,241   Saul Centers, Inc.         594,839
17,206   Tanger, Inc.         648,838
             

4,508,463

    SEMICONDUCTORS - 2.8%      
7,078   Aehr Test Systems(a)         561,073
7,696   Ambiq Micro, Inc.(a)         448,754
14,351   CEVA, Inc.(a)         388,195
4,617   Cirrus Logic, Inc.(a)         505,608
9,368   Cohu, Inc.(a)         431,865
6,272   Diodes, Inc.(a)         569,498
4,323   FormFactor, Inc.(a)         434,937
4,842   Impinj, Inc.(a)         844,056
5,809   IPG Photonics Corporation(a)         441,949
5,449   MaxLinear, Inc., Class A(a)         326,450
6,696   NVE Corporation         670,403
9,033   Penguin Solutions, Inc.(a)         443,340
21,055   Photronics, Inc.(a)         592,488
8,192   Power Integrations, Inc.         420,905
4,189   Semtech Corporation(a)         556,969
3,132   Silicon Laboratories, Inc.(a)         686,064
4,799   Ultra Clean Holdings, Inc.(a)         325,516
9,394   Veeco Instruments, Inc.(a)         416,154
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    SEMICONDUCTORS - 2.8% (Continued)      
12,778   Vishay Intertechnology, Inc.       $ 388,835
             

9,453,059

    SOFTWARE - 5.8%      
13,641   ACI Worldwide, Inc.(a)         726,792
91,554   Amplitude, Inc., Class A(a)         1,290,912
23,155   Blackbaud, Inc.(a)         1,112,829
75,064   C3.ai, Inc., Class A(a)         812,192
18,476   Calix, Inc.(a)         704,305
4,836   CommVault Systems, Inc.(a)         665,047
31,017   Concentrix Corporation         933,612
901,000   Definitive Healthcare Corporation(a)         855,950
9,256   Digi International, Inc.(a)         693,645
16,231   Donnelley Financial Solutions, Inc.(a)         783,957
9,536   IonQ, Inc.(a)         374,860
31,233   Omada Health, Inc.(a)         766,770
9,606   PDF Solutions, Inc.(a)         427,275
66,371   Phreesia, Inc.(a)         810,390
20,082   Progress Software Corporation(a)         929,194
52,047   PubMatic, Inc., Class A(a)         865,542
14,302   Q2 Holdings, Inc.(a)         930,202
4,930   Qualys, Inc.(a)         917,670
11,886   SPS Commerce, Inc.(a)         1,015,064
16,366   Varonis Systems, Inc.(a)         716,340
505,446   Veritone, Inc.(a),(b)         401,172
36,950   Via Transportation, Inc.(a)         1,032,014
114,157   Weave Communications, Inc.(a)         834,488
234,163   ZoomInfo Technologies, Inc., Class A(a)         992,851
             

19,593,073

    SPECIALTY FINANCE - 1.2%      
7,327   Encore Capital Group, Inc.(a)         710,792
2,839   Enova International, Inc.(a)         643,658
24,195   MGIC Investment Corporation         741,577
5,122   Nelnet, Inc., Class A         641,633
36,760   PRA Group, Inc.(a)         691,823
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    SPECIALTY FINANCE - 1.2% (Continued)      
3,031   World Acceptance Corporation(a)       $ 557,128
             

3,986,611

    STEEL - 0.4%      
10,798   Commercial Metals Company         728,541
36,531   Metallus, Inc.(a)         713,085
             

1,441,626

    TECHNOLOGY HARDWARE - 3.2%      
49,417   ADTRAN Holdings, Inc.(a)         382,982
6,652   Anterix, Inc.(a)         604,600
51,188   Arlo Technologies, Inc.(a)         673,122
3,231   Arrow Electronics, Inc.(a)         660,513
6,846   Benchmark Electronics, Inc.         481,137
34,770   Daktronics, Inc.(a)         679,059
112,839   Enovix Corporation(a),(b)         381,396
41,829   Harmonic, Inc.(a)         501,111
16,274   Knowles Corporation(a)         556,245
151,710   Kopin Corporation(a)         673,592
15,662   NetScout Systems, Inc.(a)         608,155
38,239   One Stop Systems, Inc.(a)         398,450
39,074   PAR Technology Corporation(a)         734,592
2,299   Plexus Corporation(a)         550,542
176,772   Powerfleet, Inc.(a)         530,316
81,625   Stratasys Ltd.(a)         632,594
56,226   Syntec Optics Holdings, Inc.(a)         460,491
7,804   ViaSat, Inc.(a)         524,975
14,104   Viavi Solutions, Inc.(a)         511,834
53,407   Vistance Networks, Inc.         336,998
             

10,882,704

    TECHNOLOGY SERVICES - 2.2%      
26,888   ExlService Holdings, Inc.(a)         1,023,895
9,296   ICF International, Inc.         828,274
19,767   KBR, Inc.         741,263
42,072   Marqeta, Inc.(a)         690,822
12,673   MAXIMUS, Inc.         732,119
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    TECHNOLOGY SERVICES - 2.2% (Continued)      
162,887   Repay Holdings Corporation(a)       $ 584,764
148,560   TaskUS, Inc., Class A         1,225,621
149,382   Telos Corporation(a)         720,021
4,949   WEX, Inc.(a)         943,180
             

7,489,959

    TELECOMMUNICATIONS - 0.2%      
12,474   Iridium Communications, Inc.         586,029
             
    TIMBER REIT - 0.2%      
32,232   Rayonier, Inc.         660,756
             
    TRANSPORTATION & LOGISTICS - 2.9%      
5,789   Allegiant Travel Company(a)         440,253
4,779   ArcBest Corporation         659,359
15,535   Covenant Logistics Group, Inc., Class A         549,162
19,643   Dorian, L.P.G Ltd.         982,935
51,454   Forward Air Corporation(a)         874,718
27,926   Genco Shipping & Trading Ltd.         732,499
45,002   Heartland Express, Inc.         556,225
15,738   Hub Group, Inc., Class A         627,474
8,794   Knight-Swift Transportation Holdings, Inc.         602,477
3,314   Landstar System, Inc.         598,608
39,320   Marten Transport Ltd.         566,994
3,556   Matson, Inc.         799,424
15,764   Werner Enterprises, Inc.         617,634
80,928   Wheels Up Experience, Inc.(a)         357,702
20,527   World Kinect Corporation         733,840
             

9,699,304

    TRANSPORTATION EQUIPMENT - 1.1%      
6,094   Allison Transmission Holdings, Inc.         766,078
8,715   Blue Bird Corporation(a)         506,777
13,844   Greenbrier Companies, Inc. (The)         623,949
134,805   Hyliion Holdings Corporation(a)         467,773
19,739   Trinity Industries, Inc.         568,878
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.6% (Continued)      
    TRANSPORTATION EQUIPMENT - 1.1% (Continued)      
51,188   Wabash National Corporation       $ 690,526
             

3,623,981

    WHOLESALE - CONSUMER STAPLES - 0.6%      
9,833   Andersons, Inc. (The)         637,867
56,617   Mission Produce, Inc.(a)         720,168
14,903   United Natural Foods, Inc.(a)         653,646
             

2,011,681

    WHOLESALE - DISCRETIONARY - 0.7%      
8,262   ePlus, Inc.         726,808
16,580   OPENLANE, Inc.(a)         590,248
13,162   ScanSource, Inc.(a)         751,419
101,238   ThredUp, Inc.(a)         272,330
             

2,340,805

               
    TOTAL COMMON STOCKS (Cost $299,478,444)    

  331,975,918

               
        Expiration Date Exercise Price    
    RIGHT — 0.0%(d)      
    BIOTECH & PHARMA - 0.0% (d)      
6,384   Bristol-Myers Squibb Company – CVR (a)(f)(g)   1/23/2031 $12.00     –
31,022   Roche Holding A.G. – CVR (a)(f)(g)   12/31/2035 $6.00     –
44,117   Sage Therapeutics, Inc..– CVR (a)(f)(g)   12/31/2030 $3.50     –
             

–

    MEDICAL EQUIPMENT & DEVICES - 0.0% (d)      
26,350   Zimmer Biomet Holdings, Inc. – CVR (a)(f)(g)   12/31/2026 $1.00     –
               
    TOTAL RIGHTS (Cost $0)    

–

               
 
 

 

INSPIRE SMALL/MID CAP ETF
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
August 31, 2026
 
Shares             Fair Value
    COLLATERAL FOR SECURITIES LOANED — 0.9%      
    MONEY MARKET FUND - 0.9%      
2,934,340   Fidelity Investments Money Market Government Portfolio - Institutional Class, 3.59% (Cost $2,934,340)(c)(e)   $ 2,934,340
             
    TOTAL INVESTMENTS - 99.5% (Cost $302,412,784)     $ 334,910,258
    OTHER ASSETS IN EXCESS OF LIABILITIES - 0.5%    

1,588,960

    NET ASSETS - 100.0%        

$ 336,499,218

           
               
 

 

 

 

CVR  - Contingent Value Right
LTD  - Limited Company
PLC  - Public Limited Company
REIT  - Real Estate Investment Trust
S.A.  - Société Anonyme
(a) Non-income producing security.
(b) All or a portion of the security is on loan. The total fair value of the securities on loan as of August 31, 2026 was $2,658,818.
(c) Security was purchased with cash received as collateral for securities on loan at August 31, 2026. Total collateral had a value of $2,934,340 at August 31, 2026.
(d) Percentage rounds to less than 0.1%.
(e) Rate disclosed is the seven day effective yield as of August 31, 2026.
(f) The fair value of this investment is determined using significant unobservable inputs.
(g) Illiquid security.  The total fair value of these securities as of August 31, 2026 was $0, representing 0% of net assets.