Page | |||||
Sector
Allocations |
|||||
Sector1 |
% Net Assets | |||||||
Information Technology |
25.3%2 | |||||||
Financials |
17.4% | |||||||
Communication Services |
13.7% | |||||||
Health Care |
13.2% | |||||||
Consumer Discretionary |
10.9% | |||||||
Consumer Staples |
9.6% | |||||||
Industrials |
4.9% | |||||||
Energy |
4.8% | |||||||
Other3 |
0.2% | |||||||
Total | 100.0% |
Sector1 |
% Net Assets | |||||||
Financials |
33.8%2 | |||||||
Consumer Discretionary | 15.0% | |||||||
Industrials | 14.0% | |||||||
Energy | 11.4% | |||||||
Materials | 6.9% | |||||||
Communication Services | 5.2% | |||||||
Information Technology | 4.4% | |||||||
Consumer Staples | 3.7% | |||||||
Health Care | 3.4% | |||||||
Real Estate | 2.0% | |||||||
Other³ | 0.2% | |||||||
Total | 100.0% |
EA
BRIDGEWAY BLUE CHIP ETF | ||
Schedule
of Investments | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.8% |
Shares | Value | |||||||||||||||
Aerospace & Defense - 2.4% | |||||||||||||||||
RTX Corp. | 38,020 | $ | 3,199,003 | ||||||||||||||
Air Freight & Logistics - 2.5% | |||||||||||||||||
United Parcel Service, Inc. - Class B | 20,638 | 3,244,913 | |||||||||||||||
Automobile Manufacturers - 3.6% | |||||||||||||||||
Tesla,
Inc.(a) |
18,736 | 4,655,521 | |||||||||||||||
Broadline Retail - 2.4% | |||||||||||||||||
Amazon.com,
Inc.(a) |
20,824 | 3,163,999 | |||||||||||||||
Cable & Satellite - 2.4% | |||||||||||||||||
Comcast Corp. - Class A | 72,628 | 3,184,738 | |||||||||||||||
Communications Equipment - 2.4% | |||||||||||||||||
Cisco Systems, Inc. | 63,317 | 3,198,775 | |||||||||||||||
Consumer Staples Merchandise Retail - 2.4% | |||||||||||||||||
Walmart, Inc. | 20,253 | 3,192,885 | |||||||||||||||
Diversified Banks - 8.8% | |||||||||||||||||
Bank of America Corp. | 94,643 | 3,186,630 | |||||||||||||||
JPMorgan Chase & Co. | 30,145 | 5,127,665 | |||||||||||||||
Wells Fargo & Co. | 64,815 | 3,190,194 | |||||||||||||||
11,504,489 | |||||||||||||||||
Home Improvement Retail - 2.4% | |||||||||||||||||
Home Depot, Inc. | 9,134 | 3,165,388 | |||||||||||||||
Household Products - 2.4% | |||||||||||||||||
Procter & Gamble Co. | 21,868 | 3,204,537 | |||||||||||||||
Integrated Oil & Gas - 4.8% | |||||||||||||||||
Chevron Corp. | 21,064 | 3,141,906 | |||||||||||||||
Exxon Mobil Corp. | 31,347 | 3,134,073 | |||||||||||||||
6,275,979 | |||||||||||||||||
Integrated Telecommunication Services - 2.5% | |||||||||||||||||
Verizon Communications, Inc. | 85,727 | 3,231,908 | |||||||||||||||
EA
BRIDGEWAY BLUE CHIP ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.8% |
Shares | Value | |||||||||||||||
Interactive Media & Services - 6.4% | |||||||||||||||||
Alphabet,
Inc. - Class A(a) |
11,371 | $ | 1,588,415 | ||||||||||||||
Alphabet,
Inc. - Class C(a) |
11,278 | 1,589,409 | |||||||||||||||
Meta
Platforms, Inc. - Class A(a) |
14,718 | 5,209,583 | |||||||||||||||
8,387,407 | |||||||||||||||||
Managed Health Care - 2.5% | |||||||||||||||||
UnitedHealth Group, Inc. | 6,120 | 3,221,996 | |||||||||||||||
Movies & Entertainment - 2.4% | |||||||||||||||||
Walt Disney Co. | 35,420 | 3,198,072 | |||||||||||||||
Multi-Sector Holdings - 2.4% | |||||||||||||||||
Berkshire
Hathaway, Inc. - Class B(a) |
8,966 | 3,197,814 | |||||||||||||||
Pharmaceuticals - 10.8% | |||||||||||||||||
Eli Lilly & Co. | 7,622 | 4,443,015 | |||||||||||||||
Johnson & Johnson | 20,467 | 3,207,998 | |||||||||||||||
Merck & Co., Inc. | 29,568 | 3,223,503 | |||||||||||||||
Pfizer, Inc. | 111,533 | 3,211,035 | |||||||||||||||
14,085,551 | |||||||||||||||||
Restaurants - 2.5% | |||||||||||||||||
McDonald's Corp. | 10,859 | 3,219,802 | |||||||||||||||
Semiconductors - 12.6% | |||||||||||||||||
Broadcom, Inc. | 3,477 | 3,881,201 | |||||||||||||||
Intel Corp. | 82,250 | 4,133,063 | |||||||||||||||
NVIDIA Corp. | 10,626 | 5,262,207 | |||||||||||||||
QUALCOMM, Inc. | 21,972 | 3,177,810 | |||||||||||||||
16,454,281 | |||||||||||||||||
Soft Drinks & Non-alcoholic Beverages - 4.8% | |||||||||||||||||
Coca-Cola Co. | 53,059 | 3,126,767 | |||||||||||||||
PepsiCo, Inc. | 18,811 | 3,194,860 | |||||||||||||||
6,321,627 | |||||||||||||||||
Systems Software - 6.5% | |||||||||||||||||
Microsoft Corp. | 14,063 | 5,288,251 | |||||||||||||||
Oracle Corp. | 30,149 | 3,178,609 | |||||||||||||||
8,466,860 | |||||||||||||||||
Technology Hardware, Storage & Peripherals - 3.7% |
EA
BRIDGEWAY BLUE CHIP ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.8% |
Shares | Value | |||||||||||||||
Apple, Inc. | 25,220 | 4,855,607 | |||||||||||||||
Transaction & Payment Processing Services - 6.2% | |||||||||||||||||
Mastercard, Inc. - Class A | 7,391 | $ | 3,152,335 | ||||||||||||||
Visa, Inc. - Class A | 19,280 | 5,019,548 | |||||||||||||||
8,171,883 | |||||||||||||||||
TOTAL
COMMON STOCKS
(Cost $66,314,861) |
$ | 130,803,035 | |||||||||||||||
SHORT-TERM INVESTMENTS - 0.2% | Shares | Value | |||||||||||||||
Money
Market Funds
- 0.2% |
|||||||||||||||||
First
American Government Obligations Fund - Class X, 5.30%(b) |
249,340 | 249,340 | |||||||||||||||
TOTAL
SHORT-TERM INVESTMENTS
(Cost $249,340) |
249,340 | ||||||||||||||||
TOTAL
INVESTMENTS - 100.0% (Cost
$66,564,201) |
$ | 131,052,375 | |||||||||||||||
Other
Assets in Excess of Liabilities - 0.0%(c) |
12,575 | ||||||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 131,064,950 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Advertising - 0.8% | ||||||||||||||
Advantage
Solutions, Inc.(a) |
1,027,647 | $ | 3,720,082 | |||||||||||
comScore,
Inc.(a) |
7,330 | 122,411 | ||||||||||||
Entravision Communications Corp. - Class A | 339,318 | 1,414,956 | ||||||||||||
Fluent,
Inc.(a) |
288,005 | 192,963 | ||||||||||||
Thryv
Holdings, Inc.(a) |
158,528 | 3,226,045 | ||||||||||||
8,676,457 | ||||||||||||||
Aerospace & Defense - 0.1% | ||||||||||||||
Kaman Corp. | 47,238 | 1,131,350 | ||||||||||||
SIFCO
Industries, Inc.(a) |
5,534 | 25,124 | ||||||||||||
V2X,
Inc.(a) |
7,436 | 345,328 | ||||||||||||
1,501,802 | ||||||||||||||
Agricultural & Farm Machinery - 0.3% | ||||||||||||||
Titan
International, Inc.(a) |
195,509 | 2,909,174 | ||||||||||||
Agricultural Products & Services - 0.5% | ||||||||||||||
Alico, Inc. | 12,863 | 374,056 | ||||||||||||
Fresh Del Monte Produce, Inc. | 203,209 | 5,334,236 | ||||||||||||
5,708,292 | ||||||||||||||
Air Freight & Logistics - 0.4% | ||||||||||||||
Air
Transport Services Group, Inc.(a) |
224,257 | 3,949,166 | ||||||||||||
Radiant
Logistics, Inc.(a) |
153,064 | 1,016,345 | ||||||||||||
4,965,511 | ||||||||||||||
Alternative Carriers - 1.0% | ||||||||||||||
EchoStar
Corp. - Class A(a)(b) |
261,327 | 4,330,188 | ||||||||||||
Liberty
Latin America Ltd. - Class A(a) |
155,255 | 1,134,914 | ||||||||||||
Liberty
Latin America Ltd. - Class C(a) |
725,235 | 5,323,225 | ||||||||||||
10,788,327 | ||||||||||||||
Aluminum - 0.3% | ||||||||||||||
Century
Aluminum Co.(a) |
295,735 | 3,590,223 | ||||||||||||
Apparel Retail - 2.4% | ||||||||||||||
Abercrombie
& Fitch Co. - Class A(a) |
45,503 | 4,014,275 | ||||||||||||
Caleres, Inc. | 109,257 | 3,357,468 | ||||||||||||
Cato Corp. - Class A | 36,691 | 261,974 | ||||||||||||
Chico's
FAS, Inc.(a) |
206,516 | 1,565,391 | ||||||||||||
Citi
Trends, Inc.(a) |
19,682 | 556,607 | ||||||||||||
Designer Brands, Inc. - Class A | 184,171 | 1,629,913 | ||||||||||||
Destination
XL Group, Inc.(a) |
51,608 | 227,075 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Apparel
Retail - 2.4% (Continued) |
||||||||||||||
Duluth
Holdings, Inc. - Class B(a) |
72,254 | 388,727 | ||||||||||||
Foot Locker, Inc. | 274,806 | 8,560,206 | ||||||||||||
Genesco,
Inc.(a) |
28,814 | 1,014,541 | ||||||||||||
Lands'
End, Inc.(a) |
32,083 | 306,713 | ||||||||||||
Shoe Carnival, Inc. | 81,246 | 2,454,442 | ||||||||||||
Tilly's,
Inc. - Class A(a) |
131,466 | 991,254 | ||||||||||||
Zumiez,
Inc.(a) |
67,856 | 1,380,191 | ||||||||||||
26,708,777 | ||||||||||||||
Apparel, Accessories & Luxury Goods - 0.9% | ||||||||||||||
Delta
Apparel, Inc.(a) |
32,755 | 233,543 | ||||||||||||
G-III
Apparel Group Ltd.(a) |
172,933 | 5,876,263 | ||||||||||||
Jerash Holdings US, Inc. | 700 | 2,149 | ||||||||||||
Lakeland Industries, Inc. | 10,173 | 188,607 | ||||||||||||
Movado Group, Inc. | 79,629 | 2,400,814 | ||||||||||||
Superior Group of Cos., Inc. | 15,319 | 206,807 | ||||||||||||
Vera
Bradley, Inc.(a) |
93,948 | 723,400 | ||||||||||||
Vince
Holding Corp.(a) |
4,923 | 17,034 | ||||||||||||
9,648,617 | ||||||||||||||
Application Software - 0.4% | ||||||||||||||
Cleanspark,
Inc.(a) |
142,317 | 1,569,757 | ||||||||||||
E2open
Parent Holdings, Inc. - Class A(a) |
617,680 | 2,711,615 | ||||||||||||
Ebix,
Inc.(b) |
79,114 | 82,279 | ||||||||||||
NetSol
Technologies, Inc.(a) |
39,596 | 85,131 | ||||||||||||
4,448,782 | ||||||||||||||
Asset Management & Custody Banks - 0.4% | ||||||||||||||
Hennessy Advisors, Inc. | 6,951 | 46,641 | ||||||||||||
US Global Investors, Inc. - Class A | 43,840 | 123,629 | ||||||||||||
Virtus Investment Partners, Inc. | 17,536 | 4,239,504 | ||||||||||||
Westwood Holdings Group, Inc. | 20,706 | 260,274 | ||||||||||||
4,670,048 | ||||||||||||||
Automobile Manufacturers - 0.7% | ||||||||||||||
Winnebago Industries, Inc. | 101,208 | 7,376,039 | ||||||||||||
Automotive Parts & Equipment - 1.8% | ||||||||||||||
American
Axle & Manufacturing Holdings, Inc.(a) |
426,773 | 3,759,870 | ||||||||||||
China
Automotive Systems, Inc.(a) |
111,309 | 359,528 | ||||||||||||
Dana, Inc. | 411,749 | 6,015,653 | ||||||||||||
Kandi
Technologies Group, Inc.(a) |
76,324 | 213,707 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Automotive
Parts & Equipment - 1.8% (Continued) |
||||||||||||||
Patrick Industries, Inc. | 73,762 | 7,402,017 | ||||||||||||
Standard Motor Products, Inc. | 68,419 | 2,723,760 | ||||||||||||
Strattec
Security Corp.(a) |
4,127 | 103,629 | ||||||||||||
20,578,164 | ||||||||||||||
Automotive Retail - 0.3% | ||||||||||||||
CarParts.com,
Inc.(a) |
52,544 | 166,039 | ||||||||||||
Lazydays
Holdings, Inc.(a)(b) |
25,305 | 178,400 | ||||||||||||
OneWater
Marine, Inc. - Class A(a) |
59,363 | 2,005,876 | ||||||||||||
RumbleON,
Inc. - Class B(a)(b) |
53,925 | 438,950 | ||||||||||||
Sonic Automotive, Inc. - Class A | 11,424 | 642,143 | ||||||||||||
3,431,408 | ||||||||||||||
Biotechnology - 0.9% | ||||||||||||||
Carisma
Therapeutics, Inc.(b) |
48,134 | 141,033 | ||||||||||||
Emergent
BioSolutions, Inc.(a) |
59,524 | 142,858 | ||||||||||||
iTeos
Therapeutics, Inc.(a) |
121,230 | 1,327,469 | ||||||||||||
Ovid
therapeutics, Inc.(a) |
118,445 | 381,393 | ||||||||||||
Vanda
Pharmaceuticals, Inc.(a) |
186,068 | 785,207 | ||||||||||||
Vir
Biotechnology, Inc.(a) |
423,404 | 4,259,443 | ||||||||||||
Voyager
Therapeutics, Inc.(a) |
36,496 | 308,026 | ||||||||||||
XBiotech,
Inc.(a) |
59,552 | 238,208 | ||||||||||||
Zymeworks,
Inc.(a) |
273,416 | 2,840,792 | ||||||||||||
10,424,429 | ||||||||||||||
Broadcasting - 0.5% | ||||||||||||||
EW
Scripps Co. - Class A(a) |
225,493 | 1,801,689 | ||||||||||||
Saga Communications, Inc. - Class A | 17,636 | 392,577 | ||||||||||||
Salem
Media Group, Inc.(a) |
50,587 | 19,729 | ||||||||||||
Sinclair, Inc. | 189,058 | 2,463,426 | ||||||||||||
Townsquare Media, Inc. - Class A | 59,400 | 627,264 | ||||||||||||
Urban
One, Inc.(a) |
123,362 | 435,468 | ||||||||||||
5,740,153 | ||||||||||||||
Building Products - 1.9% | ||||||||||||||
American
Woodmark Corp.(a) |
69,144 | 6,420,021 | ||||||||||||
AZZ, Inc. | 82,637 | 4,800,383 | ||||||||||||
JELD-WEN
Holding, Inc.(a) |
332,583 | 6,279,167 | ||||||||||||
Quanex Building Products Corp. | 116,862 | 3,572,471 | ||||||||||||
21,072,042 | ||||||||||||||
Cargo Ground Transportation - 1.5% | ||||||||||||||
ArcBest Corp. | 70,869 | 8,519,162 | ||||||||||||
Covenant Logistics Group, Inc. | 73,264 | 3,373,075 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Cargo
Ground Transportation - 1.5% (Continued) |
||||||||||||||
Daseke,
Inc.(a) |
121,469 | 983,899 | ||||||||||||
Heartland Express, Inc. | 96,955 | 1,382,578 | ||||||||||||
PAM
Transportation Services, Inc.(a) |
46,974 | 976,120 | ||||||||||||
Universal Logistics Holdings, Inc. | 76,346 | 2,139,215 | ||||||||||||
17,374,049 | ||||||||||||||
Casinos & Gaming - 0.3% | ||||||||||||||
Bally's
Corp.(a) |
129,630 | 1,807,042 | ||||||||||||
Century
Casinos, Inc.(a) |
61,893 | 302,038 | ||||||||||||
Golden Entertainment, Inc. | 25,972 | 1,037,062 | ||||||||||||
3,146,142 | ||||||||||||||
Coal & Consumable Fuels - 0.3% | ||||||||||||||
CONSOL Energy, Inc. | 12,795 | 1,286,281 | ||||||||||||
Hallador
Energy Co.(a) |
180,821 | 1,598,457 | ||||||||||||
NACCO Industries, Inc. - Class A | 28,371 | 1,035,542 | ||||||||||||
3,920,280 | ||||||||||||||
Commercial & Residential Mortgage Finance - 1.9% | ||||||||||||||
Federal Agricultural Mortgage Corp. - Class C | 26,102 | 4,991,225 | ||||||||||||
Guild Holdings Co. - Class A | 219,861 | 3,097,841 | ||||||||||||
loanDepot,
Inc. - Class A(a) |
190,345 | 670,014 | ||||||||||||
Merchants Bancorp | 130,526 | 5,557,798 | ||||||||||||
NMI
Holdings, Inc. - Class A(a) |
86,999 | 2,582,130 | ||||||||||||
Ocwen
Financial Corp.(a) |
34,892 | 1,073,278 | ||||||||||||
Security
National Financial Corp. - Class A(a) |
38,769 | 348,921 | ||||||||||||
Velocity
Financial, Inc.(a) |
113,151 | 1,948,460 | ||||||||||||
Waterstone Financial, Inc. | 60,376 | 857,339 | ||||||||||||
21,127,006 | ||||||||||||||
Commercial Printing - 0.4% | ||||||||||||||
Deluxe Corp. | 165,472 | 3,549,374 | ||||||||||||
Quad/Graphics,
Inc.(a) |
227,652 | 1,233,874 | ||||||||||||
4,783,248 | ||||||||||||||
Commodity Chemicals - 2.0% | ||||||||||||||
AdvanSix, Inc. | 122,579 | 3,672,467 | ||||||||||||
Core
Molding Technologies, Inc.(a) |
29,813 | 552,435 | ||||||||||||
Koppers Holdings, Inc. | 77,412 | 3,965,043 | ||||||||||||
Kronos Worldwide, Inc. | 371,965 | 3,697,332 | ||||||||||||
Mativ Holdings, Inc. | 182,484 | 2,793,830 | ||||||||||||
Tronox Holdings PLC | 561,263 | 7,947,484 | ||||||||||||
22,628,591 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Communications Equipment - 0.5% | ||||||||||||||
Comtech Telecommunications Corp. | 70,605 | 595,200 | ||||||||||||
KVH
Industries, Inc.(a) |
22,730 | 119,560 | ||||||||||||
NetScout
Systems, Inc.(a) |
199,598 | 4,381,176 | ||||||||||||
Network-1 Technologies, Inc. | 88,119 | 192,099 | ||||||||||||
5,288,035 | ||||||||||||||
Construction & Engineering - 0.5% | ||||||||||||||
Concrete
Pumping Holdings, Inc.(a) |
247,982 | 2,033,453 | ||||||||||||
Limbach
Holdings, Inc.(a) |
7,151 | 325,156 | ||||||||||||
Northwest
Pipe Co.(a) |
35,828 | 1,084,155 | ||||||||||||
Orion
Group Holdings, Inc.(a) |
203,566 | 1,005,616 | ||||||||||||
Tutor
Perini Corp.(a) |
186,600 | 1,698,060 | ||||||||||||
6,146,440 | ||||||||||||||
Construction Machinery & Heavy Transportation Equipment - 0.7% | ||||||||||||||
Commercial
Vehicle Group, Inc.(a) |
56,198 | 393,948 | ||||||||||||
Greenbrier Cos., Inc. | 116,271 | 5,136,852 | ||||||||||||
Manitowoc
Co., Inc.(a) |
137,204 | 2,289,935 | ||||||||||||
REV Group, Inc. | 380 | 6,905 | ||||||||||||
7,827,640 | ||||||||||||||
Consumer Electronics - 0.2% | ||||||||||||||
GoPro,
Inc. - Class A(a) |
528,555 | 1,834,085 | ||||||||||||
Koss
Corp.(a) |
5,245 | 17,571 | ||||||||||||
Universal
Electronics, Inc.(a) |
35,156 | 330,115 | ||||||||||||
VOXX
International Corp.(a) |
61,250 | 654,150 | ||||||||||||
2,835,921 | ||||||||||||||
Consumer Finance - 3.1% | ||||||||||||||
Atlanticus
Holdings Corp.(a) |
14,044 | 543,081 | ||||||||||||
Bread Financial Holdings, Inc. | 150,703 | 4,964,157 | ||||||||||||
Consumer
Portfolio Services, Inc.(a) |
116,114 | 1,087,988 | ||||||||||||
Encore
Capital Group, Inc.(a) |
69,164 | 3,510,073 | ||||||||||||
Enova
International, Inc.(a) |
101,810 | 5,636,201 | ||||||||||||
EZCORP,
Inc. - Class A(a) |
264,518 | 2,311,887 | ||||||||||||
Green
Dot Corp. - Class A(a) |
143,675 | 1,422,383 | ||||||||||||
LendingClub
Corp.(a) |
290,939 | 2,542,807 | ||||||||||||
LendingTree,
Inc.(a) |
28,861 | 875,066 | ||||||||||||
Moneylion,
Inc.(a) |
12,846 | 805,316 | ||||||||||||
Navient Corp. | 361,826 | 6,737,199 | ||||||||||||
Nicholas
Financial, Inc.(a) |
23,487 | 160,416 | ||||||||||||
Oportun
Financial Corp.(a) |
90,082 | 352,221 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Consumer
Finance - 3.1% (Continued) |
||||||||||||||
PROG
Holdings, Inc.(a) |
49,049 | 1,516,105 | ||||||||||||
Regional Management Corp. | 34,172 | 857,034 | ||||||||||||
World
Acceptance Corp.(a) |
12,802 | 1,671,045 | ||||||||||||
34,992,979 | ||||||||||||||
Data Processing & Outsourced Services - 0.2% | ||||||||||||||
Conduent,
Inc.(a) |
649,333 | 2,370,065 | ||||||||||||
StarTek,
Inc.(a) |
48,334 | 213,153 | ||||||||||||
2,583,218 | ||||||||||||||
Distributors - 0.4% | ||||||||||||||
AMCON Distributing Co. | 2,267 | 442,065 | ||||||||||||
GigaCloud
Technology, Inc. - Class A(a)(b) |
151,232 | 2,766,789 | ||||||||||||
Weyco Group, Inc. | 26,304 | 824,893 | ||||||||||||
4,033,747 | ||||||||||||||
Diversified
Banks - 0.0%(c) |
||||||||||||||
Bank of NT Butterfield & Son Ltd. | 90 | 2,881 | ||||||||||||
Diversified Financial Services - 0.1% | ||||||||||||||
Alerus Financial Corp. | 28,880 | 646,623 | ||||||||||||
Diversified Support Services - 0.5% | ||||||||||||||
Civeo Corp. | 78,259 | 1,788,218 | ||||||||||||
Matthews International Corp. - Class A | 105,190 | 3,855,214 | ||||||||||||
5,643,432 | ||||||||||||||
Education Services - 1.1% | ||||||||||||||
Chegg,
Inc.(a) |
303,343 | 3,445,976 | ||||||||||||
Lincoln
Educational Services Corp.(a) |
169,253 | 1,699,300 | ||||||||||||
Perdoceo Education Corp. | 292,339 | 5,133,473 | ||||||||||||
Universal
Technical Institute, Inc.(a) |
174,594 | 2,185,917 | ||||||||||||
12,464,666 | ||||||||||||||
Electrical Components & Equipment - 0.2% | ||||||||||||||
CBAK
Energy Technology, Inc.(a) |
252,635 | 265,267 | ||||||||||||
LSI Industries, Inc. | 4,127 | 58,108 | ||||||||||||
Preformed Line Products Co. | 12,185 | 1,631,084 | ||||||||||||
Servotronics,
Inc.(a) |
1,500 | 18,750 | ||||||||||||
Ultralife
Corp.(a) |
29,121 | 198,605 | ||||||||||||
2,171,814 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Electronic Components - 0.1% | ||||||||||||||
Bel Fuse, Inc. - Class B | 17,160 | 1,145,773 | ||||||||||||
Electronic Equipment & Instruments - 0.1% | ||||||||||||||
Daktronics,
Inc.(a) |
92,528 | 784,637 | ||||||||||||
Electronic Manufacturing Services - 1.0% | ||||||||||||||
Benchmark Electronics, Inc. | 46,898 | 1,296,261 | ||||||||||||
Kimball
Electronics, Inc.(a) |
32,239 | 868,841 | ||||||||||||
Methode Electronics, Inc. | 91,266 | 2,074,476 | ||||||||||||
TTM
Technologies, Inc.(a) |
443,845 | 7,017,189 | ||||||||||||
11,256,767 | ||||||||||||||
Environmental & Facilities Services - 0.5% | ||||||||||||||
BrightView
Holdings, Inc.(a) |
356,623 | 3,002,766 | ||||||||||||
Enviri
Corp.(a) |
266,376 | 2,397,384 | ||||||||||||
5,400,150 | ||||||||||||||
Fertilizers & Agricultural Chemicals - 0.2% | ||||||||||||||
American Vanguard Corp. | 91,217 | 1,000,650 | ||||||||||||
Intrepid
Potash, Inc.(a) |
29,457 | 703,728 | ||||||||||||
1,704,378 | ||||||||||||||
Food Distributors - 1.3% | ||||||||||||||
Andersons, Inc. | 136,002 | 7,825,555 | ||||||||||||
SpartanNash Co. | 138,387 | 3,175,982 | ||||||||||||
United
Natural Foods, Inc.(a) |
204,008 | 3,311,050 | ||||||||||||
14,312,587 | ||||||||||||||
Food Retail - 1.2% | ||||||||||||||
Ingles Markets, Inc. - Class A | 73,223 | 6,324,270 | ||||||||||||
Natural Grocers by Vitamin Cottage, Inc. | 61,172 | 978,752 | ||||||||||||
Village Super Market, Inc. - Class A | 46,526 | 1,220,377 | ||||||||||||
Weis Markets, Inc. | 70,126 | 4,485,259 | ||||||||||||
13,008,658 | ||||||||||||||
Footwear
- 0.0%(c) |
||||||||||||||
Rocky Brands, Inc. | 5,783 | 174,531 | ||||||||||||
Gold
- 0.0%(c) |
||||||||||||||
Caledonia Mining Corp. PLC | 44,866 | 547,365 | ||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Health Care Distributors - 0.8% | ||||||||||||||
AdaptHealth
Corp.(a) |
464,678 | 3,387,503 | ||||||||||||
Great
Elm Group, Inc.(a) |
2,917 | 5,659 | ||||||||||||
Owens
& Minor, Inc.(a) |
275,065 | 5,300,502 | ||||||||||||
8,693,664 | ||||||||||||||
Health
Care Equipment - 0.0%(c) |
||||||||||||||
FONAR
Corp.(a) |
11,985 | 234,427 | ||||||||||||
Health Care Services - 0.7% | ||||||||||||||
American
Shared Hospital Services(a) |
9,768 | 23,242 | ||||||||||||
Cross
Country Healthcare, Inc.(a) |
104,731 | 2,371,110 | ||||||||||||
Enhabit,
Inc.(a) |
78,628 | 813,800 | ||||||||||||
Fulgent
Genetics, Inc.(a) |
100,942 | 2,918,233 | ||||||||||||
Pediatrix
Medical Group, Inc.(a) |
217,340 | 2,021,262 | ||||||||||||
8,147,647 | ||||||||||||||
Health Care Supplies - 0.5% | ||||||||||||||
Avanos
Medical, Inc.(a) |
164,145 | 3,681,772 | ||||||||||||
OraSure
Technologies, Inc.(a) |
165,754 | 1,359,183 | ||||||||||||
5,040,955 | ||||||||||||||
Health Care Technology - 0.1% | ||||||||||||||
CareCloud,
Inc.(a) |
33,155 | 50,396 | ||||||||||||
Multiplan
Corp.(a) |
779,794 | 1,122,903 | ||||||||||||
1,173,299 | ||||||||||||||
Heavy
Electrical Equipment - 0.0%(c) |
||||||||||||||
Broadwind,
Inc.(a) |
45,735 | 126,686 | ||||||||||||
Home Furnishings - 0.9% | ||||||||||||||
Bassett Furniture Industries, Inc. | 21,018 | 348,899 | ||||||||||||
Ethan Allen Interiors, Inc. | 51,208 | 1,634,559 | ||||||||||||
Flexsteel Industries, Inc. | 18,136 | 341,864 | ||||||||||||
Hooker Furnishings Corp. | 34,124 | 889,954 | ||||||||||||
La-Z-Boy, Inc. | 165,133 | 6,096,710 | ||||||||||||
Live
Ventures, Inc.(a) |
14,781 | 375,437 | ||||||||||||
9,687,423 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Homebuilding - 1.8% | ||||||||||||||
Beazer
Homes USA, Inc.(a) |
132,246 | 4,468,592 | ||||||||||||
Hovnanian
Enterprises, Inc. - Class A(a) |
23,827 | 3,707,958 | ||||||||||||
Landsea
Homes Corp.(a) |
120,080 | 1,577,851 | ||||||||||||
Legacy
Housing Corp.(a) |
35,135 | 886,105 | ||||||||||||
M/I
Homes, Inc.(a) |
72,248 | 9,951,440 | ||||||||||||
20,591,946 | ||||||||||||||
Homefurnishing Retail - 0.3% | ||||||||||||||
Aaron's Co., Inc. | 140,922 | 1,533,231 | ||||||||||||
Haverty Furniture Cos., Inc. | 66,486 | 2,360,253 | ||||||||||||
3,893,484 | ||||||||||||||
Hotels, Resorts & Cruise Lines - 0.3% | ||||||||||||||
Bluegreen Vacations Holding Corp. | 43,473 | 3,265,692 | ||||||||||||
Household
Appliances - 0.0%(c) |
||||||||||||||
Traeger,
Inc.(a) |
25,804 | 70,445 | ||||||||||||
Human Resource & Employment Services - 0.7% | ||||||||||||||
Asure
Software, Inc.(a) |
62,093 | 591,125 | ||||||||||||
Heidrick & Struggles International, Inc. | 55,637 | 1,642,961 | ||||||||||||
Kelly Services, Inc. - Class A | 159,955 | 3,458,227 | ||||||||||||
TrueBlue,
Inc.(a) |
104,783 | 1,607,371 | ||||||||||||
7,299,684 | ||||||||||||||
Industrial Machinery & Supplies & Components - 0.5% | ||||||||||||||
Eastern Co. | 14,306 | 314,732 | ||||||||||||
Hurco Cos., Inc. | 22,542 | 485,329 | ||||||||||||
LS
Starrett Co. - Class A(a) |
9,336 | 112,966 | ||||||||||||
Mayville
Engineering Co., Inc.(a) |
70,880 | 1,022,090 | ||||||||||||
NN,
Inc.(a) |
146,385 | 585,540 | ||||||||||||
Park-Ohio Holdings Corp. | 8,918 | 240,429 | ||||||||||||
Proto
Labs, Inc.(a) |
73,501 | 2,863,599 | ||||||||||||
5,624,685 | ||||||||||||||
Insurance
Brokers - 0.0%(c) |
||||||||||||||
Crawford & Co. - Class A | 7,251 | 95,568 | ||||||||||||
Crawford & Co. - Class B | 101 | 1,321 | ||||||||||||
GoHealth,
Inc.(a) |
18,136 | 241,935 | ||||||||||||
338,824 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Integrated Telecommunication Services - 0.4% | ||||||||||||||
ATN International, Inc. | 62,909 | 2,451,563 | ||||||||||||
Consolidated
Communications Holdings, Inc.(a) |
386,859 | 1,682,837 | ||||||||||||
4,134,400 | ||||||||||||||
Interactive
Media & Services - 0.0%(c) |
||||||||||||||
DHI
Group, Inc.(a) |
4,105 | 10,632 | ||||||||||||
Investment Banking & Brokerage - 0.1% | ||||||||||||||
Oppenheimer Holdings, Inc. - Class A | 34,391 | 1,421,036 | ||||||||||||
IT
Consulting & Other Services - 0.0%(c) |
||||||||||||||
WidePoint
Corp.(a) |
22,170 | 51,434 | ||||||||||||
Leisure Products - 1.3% | ||||||||||||||
American
Outdoor Brands, Inc.(a) |
18,536 | 155,702 | ||||||||||||
AMMO,
Inc.(a) |
182,145 | 382,505 | ||||||||||||
JAKKS
Pacific, Inc.(a) |
44,633 | 1,586,703 | ||||||||||||
Johnson Outdoors, Inc. - Class A | 14,988 | 800,659 | ||||||||||||
Latham
Group, Inc.(a) |
250,745 | 659,459 | ||||||||||||
MasterCraft
Boat Holdings, Inc.(a) |
63,582 | 1,439,496 | ||||||||||||
Smith & Wesson Brands, Inc. | 60,231 | 816,732 | ||||||||||||
Solo
Brands, Inc. - Class A(a) |
327,222 | 2,015,688 | ||||||||||||
Vista
Outdoor, Inc.(a) |
217,032 | 6,417,637 | ||||||||||||
14,274,581 | ||||||||||||||
Life & Health Insurance - 0.3% | ||||||||||||||
Citizens,
Inc.(a)(b) |
112,841 | 303,542 | ||||||||||||
National Western Life Group, Inc. - Class A | 5,991 | 2,893,773 | ||||||||||||
3,197,315 | ||||||||||||||
Marine Transportation - 1.8% | ||||||||||||||
Costamare, Inc. | 466,402 | 4,855,245 | ||||||||||||
Eagle
Bulk Shipping, Inc.(b) |
37,550 | 2,080,270 | ||||||||||||
Genco Shipping & Trading Ltd. | 208,342 | 3,456,394 | ||||||||||||
Golden Ocean Group Ltd. | 607,293 | 5,927,180 | ||||||||||||
Pangaea Logistics Solutions Ltd. | 275,922 | 2,273,597 | ||||||||||||
Safe Bulkers, Inc. | 423,469 | 1,664,233 | ||||||||||||
20,256,919 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Movies & Entertainment - 0.6% | ||||||||||||||
Marcus Corp. | 131,147 | 1,912,123 | ||||||||||||
Sphere
Entertainment Co.(a) |
131,098 | 4,452,088 | ||||||||||||
6,364,211 | ||||||||||||||
Multi-line Insurance - 0.3% | ||||||||||||||
Atlantic American Corp. | 1,204 | 2,866 | ||||||||||||
Horace Mann Educators Corp. | 106,932 | 3,496,676 | ||||||||||||
3,499,542 | ||||||||||||||
Office Services & Supplies - 0.8% | ||||||||||||||
ACCO Brands Corp. | 355,071 | 2,158,832 | ||||||||||||
ARC Document Solutions, Inc. | 207,659 | 681,122 | ||||||||||||
CompX International, Inc. | 1,500 | 37,920 | ||||||||||||
NL Industries, Inc. | 126,699 | 710,781 | ||||||||||||
Steelcase, Inc. - Class A | 358,238 | 4,843,377 | ||||||||||||
8,432,032 | ||||||||||||||
Oil & Gas Drilling - 0.1% | ||||||||||||||
Nabors
Industries Ltd.(a) |
9,661 | 788,627 | ||||||||||||
Oil & Gas Equipment & Services - 2.8% | ||||||||||||||
Archrock, Inc. | 409,685 | 6,309,148 | ||||||||||||
Bristow
Group, Inc.(a) |
30,516 | 862,687 | ||||||||||||
DMC
Global, Inc.(a) |
74,385 | 1,399,926 | ||||||||||||
Energy Services of America Corp. | 7,051 | 42,165 | ||||||||||||
Forum
Energy Technologies, Inc.(a) |
7,951 | 176,274 | ||||||||||||
Helix
Energy Solutions Group, Inc.(a) |
269,775 | 2,773,287 | ||||||||||||
Mammoth
Energy Services, Inc.(a) |
67,998 | 303,271 | ||||||||||||
Natural
Gas Services Group, Inc.(a) |
72,578 | 1,167,054 | ||||||||||||
NCS
Multistage Holdings, Inc.(a) |
15,719 | 270,681 | ||||||||||||
Newpark
Resources, Inc.(a) |
149,290 | 991,286 | ||||||||||||
Oil
States International, Inc.(a) |
288,858 | 1,961,346 | ||||||||||||
ProPetro
Holding Corp.(a) |
429,822 | 3,601,908 | ||||||||||||
Ranger Energy Services, Inc. | 92,801 | 949,354 | ||||||||||||
RPC, Inc. | 589,609 | 4,292,354 | ||||||||||||
SEACOR
Marine Holdings, Inc.(a) |
90,403 | 1,138,174 | ||||||||||||
Select Water Solutions, Inc. | 205,400 | 1,558,986 | ||||||||||||
Smart
Sand, Inc.(a) |
117,435 | 226,650 | ||||||||||||
US
Silica Holdings, Inc.(a) |
305,041 | 3,450,014 | ||||||||||||
31,474,565 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Oil & Gas Exploration & Production - 3.4% | ||||||||||||||
Amplify
Energy Corp.(a) |
120,722 | 715,881 | ||||||||||||
Barnwell Industries, Inc. | 41,023 | 99,686 | ||||||||||||
Battalion
Oil Corp.(a) |
993 | 9,543 | ||||||||||||
Berry Corp. | 315,987 | 2,221,389 | ||||||||||||
Crescent
Energy Co. - Class A(b) |
510,624 | 6,745,344 | ||||||||||||
Epsilon Energy Ltd. | 70,461 | 357,942 | ||||||||||||
Gulfport
Energy Corp.(a) |
58,686 | 7,816,976 | ||||||||||||
HighPeak
Energy, Inc.(b) |
102,352 | 1,457,492 | ||||||||||||
PEDEVCO
Corp.(a) |
49,091 | 37,805 | ||||||||||||
PHX Minerals, Inc. | 104,883 | 337,723 | ||||||||||||
PrimeEnergy
Resources Corp.(a) |
2,010 | 213,764 | ||||||||||||
Riley Exploration Permian, Inc. | 24,187 | 658,854 | ||||||||||||
Ring
Energy, Inc.(a)(b) |
495,033 | 722,748 | ||||||||||||
SandRidge Energy, Inc. | 189,157 | 2,585,776 | ||||||||||||
SilverBow
Resources, Inc.(a) |
76,288 | 2,218,455 | ||||||||||||
Talos
Energy, Inc.(a) |
440,934 | 6,274,491 | ||||||||||||
US Energy Corp. | 17,536 | 17,536 | ||||||||||||
VAALCO Energy, Inc. | 335,954 | 1,508,433 | ||||||||||||
Vital
Energy, Inc.(a) |
77,613 | 3,530,615 | ||||||||||||
37,530,453 | ||||||||||||||
Oil & Gas Refining & Marketing - 2.1% | ||||||||||||||
Adams Resources & Energy, Inc. | 15,119 | 395,815 | ||||||||||||
Delek US Holdings, Inc. | 260,276 | 6,715,121 | ||||||||||||
FutureFuel Corp. | 181,026 | 1,100,638 | ||||||||||||
Par
Pacific Holdings, Inc.(a) |
204,527 | 7,438,648 | ||||||||||||
REX
American Resources Corp.(a) |
58,718 | 2,777,361 | ||||||||||||
World Kinect Corp. | 223,758 | 5,097,207 | ||||||||||||
23,524,790 | ||||||||||||||
Oil & Gas Storage & Transportation - 2.8% | ||||||||||||||
Ardmore Shipping Corp. | 169,244 | 2,384,648 | ||||||||||||
DHT Holdings, Inc. | 83,499 | 819,125 | ||||||||||||
Dorian LPG Ltd. | 163,815 | 7,186,565 | ||||||||||||
Golar LNG Ltd. | 82,364 | 1,893,548 | ||||||||||||
Overseas Shipholding Group, Inc. - Class A | 342,125 | 1,802,999 | ||||||||||||
SFL Corp. Ltd. | 571,207 | 6,443,216 | ||||||||||||
Teekay
Corp.(a) |
552,606 | 3,951,133 | ||||||||||||
Teekay Tankers Ltd. - Class A | 128,892 | 6,440,733 | ||||||||||||
30,921,967 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Other Specialty Retail - 1.9% | ||||||||||||||
1-800-Flowers.com,
Inc. - Class A(a) |
194,456 | 2,096,236 | ||||||||||||
Big 5 Sporting Goods Corp. | 93,948 | 595,630 | ||||||||||||
Hibbett, Inc. | 36,889 | 2,656,746 | ||||||||||||
MarineMax,
Inc.(a) |
82,625 | 3,214,113 | ||||||||||||
ODP
Corp.(a) |
151,185 | 8,511,715 | ||||||||||||
Sally
Beauty Holdings, Inc.(a) |
270,677 | 3,594,591 | ||||||||||||
Sportsman's
Warehouse Holdings, Inc.(a) |
98,294 | 418,732 | ||||||||||||
21,087,763 | ||||||||||||||
Packaged Foods & Meats - 0.6% | ||||||||||||||
B&G Foods, Inc. | 182,360 | 1,914,780 | ||||||||||||
Dole PLC | 353,916 | 4,349,628 | ||||||||||||
Seneca
Foods Corp. - Class A(a) |
12,376 | 648,997 | ||||||||||||
Whole
Earth Brands, Inc.(a) |
23,487 | 80,091 | ||||||||||||
6,993,496 | ||||||||||||||
Paper & Plastic Packaging Products & Materials - 0.8% | ||||||||||||||
Pactiv Evergreen, Inc. | 541,207 | 7,419,948 | ||||||||||||
Ranpak
Holdings Corp.(a) |
179,772 | 1,046,273 | ||||||||||||
8,466,221 | ||||||||||||||
Paper Products - 0.5% | ||||||||||||||
Clearwater
Paper Corp.(a) |
86,959 | 3,140,959 | ||||||||||||
Glatfelter
Corp.(a) |
44,837 | 86,984 | ||||||||||||
Mercer International, Inc. | 229,098 | 2,171,849 | ||||||||||||
5,399,792 | ||||||||||||||
Passenger Airlines - 1.8% | ||||||||||||||
Allegiant Travel Co. | 66,013 | 5,453,334 | ||||||||||||
JetBlue
Airways Corp.(a) |
761,396 | 4,225,748 | ||||||||||||
SkyWest,
Inc.(a) |
170,400 | 8,894,880 | ||||||||||||
Sun
Country Airlines Holdings, Inc.(a) |
88,914 | 1,398,617 | ||||||||||||
19,972,579 | ||||||||||||||
Personal Care Products - 0.1% | ||||||||||||||
Lifevantage Corp. | 70,461 | 422,767 | ||||||||||||
Mannatech, Inc. | 5,134 | 40,353 | ||||||||||||
Natural
Alternatives International, Inc.(a) |
19,653 | 126,172 | ||||||||||||
Nature's
Sunshine Products, Inc.(a) |
6,401 | 110,673 | ||||||||||||
699,965 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS
- 99.6% |
Shares | Value | ||||||||||||
Pharmaceuticals - 0.4% | ||||||||||||||
Assertio
Holdings, Inc.(a) |
351,608 | 376,221 | ||||||||||||
Innoviva,
Inc.(a) |
230,936 | 3,704,213 | ||||||||||||
ProPhase
Labs, Inc.(a)(b) |
3,317 | 14,993 | ||||||||||||
SCYNEXIS,
Inc.(a) |
81,764 | 182,334 | ||||||||||||
4,277,761 | ||||||||||||||
Property & Casualty Insurance - 1.9% | ||||||||||||||
Ambac
Financial Group, Inc.(a) |
140,922 | 2,322,395 | ||||||||||||
Donegal Group, Inc. - Class A | 102,816 | 1,438,396 | ||||||||||||
Employers Holdings, Inc. | 24,426 | 962,384 | ||||||||||||
Hallmark
Financial Services, Inc.(a) |
10,478 | 10,583 | ||||||||||||
Heritage
Insurance Holdings, Inc.(a) |
89,475 | 583,377 | ||||||||||||
Investors Title Co. | 4,127 | 669,152 | ||||||||||||
James River Group Holdings Ltd. | 91,938 | 849,507 | ||||||||||||
Mercury General Corp. | 116,911 | 4,361,948 | ||||||||||||
Stewart Information Services Corp. | 69,654 | 4,092,173 | ||||||||||||
Tiptree, Inc. | 144,168 | 2,733,425 | ||||||||||||
United Fire Group, Inc. | 57,867 | 1,164,284 | ||||||||||||
Universal Insurance Holdings, Inc. | 151,664 | 2,423,591 | ||||||||||||
21,611,215 | ||||||||||||||
Publishing - 0.6% | ||||||||||||||
Gannett
Co., Inc.(a) |
722,385 | 1,661,486 | ||||||||||||
Scholastic Corp. | 122,035 | 4,600,719 | ||||||||||||
6,262,205 | ||||||||||||||
Real Estate Development - 0.6% | ||||||||||||||
AMREP
Corp.(a) |
34,972 | 768,335 | ||||||||||||
Forestar
Group, Inc.(a) |
186,635 | 6,172,019 | ||||||||||||
6,940,354 | ||||||||||||||
Real Estate Services - 1.4% | ||||||||||||||
Anywhere
Real Estate, Inc.(a) |
318,180 | 2,580,440 | ||||||||||||
Newmark Group, Inc. - Class A | 606,813 | 6,650,671 | ||||||||||||
Opendoor
Technologies, Inc.(a) |
1,325,428 | 5,937,917 | ||||||||||||
RE/MAX Holdings, Inc. - Class A | 46,837 | 624,337 | ||||||||||||
15,793,365 | ||||||||||||||
Regional Banks - 24.2% | ||||||||||||||
1st Source Corp. | 68,944 | 3,788,473 | ||||||||||||
ACNB Corp. | 38,606 | 1,728,005 | ||||||||||||
Amalgamated Financial Corp. | 101,539 | 2,735,461 | ||||||||||||
Amerant Bancorp, Inc. | 30,266 | 743,636 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Regional
Banks - 24.2% (Continued) |
||||||||||||||
American National Bankshares, Inc. | 36,389 | 1,773,964 | ||||||||||||
AmeriServ Financial, Inc. | 77,412 | 250,428 | ||||||||||||
Ames National Corp. | 9,268 | 197,779 | ||||||||||||
Arrow Financial Corp. | 24,839 | 694,002 | ||||||||||||
Auburn National BanCorp, Inc. | 8,642 | 183,902 | ||||||||||||
Banc of California, Inc. | 119,146 | 1,600,131 | ||||||||||||
Bank of Marin Bancorp | 9,368 | 206,283 | ||||||||||||
Bank of the James Financial Group, Inc. | 16,219 | 195,115 | ||||||||||||
Bank7 Corp. | 26,904 | 735,824 | ||||||||||||
BankUnited, Inc. | 163,417 | 5,299,612 | ||||||||||||
Bankwell Financial Group, Inc. | 16,219 | 489,489 | ||||||||||||
Banner Corp. | 94,586 | 5,066,025 | ||||||||||||
Bar Harbor Bankshares | 35,809 | 1,051,352 | ||||||||||||
BayCom Corp. | 26,927 | 635,208 | ||||||||||||
BCB Bancorp, Inc. | 59,776 | 768,122 | ||||||||||||
Berkshire Hills Bancorp, Inc. | 112,392 | 2,790,693 | ||||||||||||
Blue
Ridge Bankshares, Inc.(b) |
49,587 | 150,249 | ||||||||||||
Bridgewater
Bancshares, Inc.(a) |
8,907 | 120,423 | ||||||||||||
Brookline Bancorp, Inc. | 233,046 | 2,542,532 | ||||||||||||
Business First Bancshares, Inc. | 61,311 | 1,511,316 | ||||||||||||
Byline Bancorp, Inc. | 118,556 | 2,793,179 | ||||||||||||
C&F Financial Corp. | 11,087 | 756,023 | ||||||||||||
California
BanCorp(a) |
5,783 | 143,187 | ||||||||||||
Cambridge Bancorp | 18,154 | 1,259,888 | ||||||||||||
Camden National Corp. | 31,046 | 1,168,261 | ||||||||||||
Capital Bancorp, Inc. | 75,941 | 1,837,772 | ||||||||||||
Capital City Bank Group, Inc. | 26,781 | 788,165 | ||||||||||||
Capitol Federal Financial, Inc. | 335,086 | 2,161,305 | ||||||||||||
Carter
Bankshares, Inc.(a) |
72,533 | 1,085,819 | ||||||||||||
CB Financial Services, Inc. | 26,704 | 636,089 | ||||||||||||
Central Pacific Financial Corp. | 70,461 | 1,386,672 | ||||||||||||
Central Valley Community Bancorp | 37,499 | 838,103 | ||||||||||||
CF Bankshares, Inc. | 2,317 | 45,575 | ||||||||||||
Chemung Financial Corp. | 17,333 | 863,183 | ||||||||||||
ChoiceOne Financial Services, Inc. | 22,170 | 649,581 | ||||||||||||
Citizens Community Bancorp, Inc. | 47,474 | 555,921 | ||||||||||||
Citizens Financial Services, Inc. | 1,447 | 93,650 | ||||||||||||
Citizens Holding Co. | 3,717 | 28,807 | ||||||||||||
Civista Bancshares, Inc. | 40,844 | 753,163 | ||||||||||||
CNB Financial Corp. | 56,242 | 1,270,507 | ||||||||||||
Codorus Valley Bancorp, Inc. | 44,604 | 1,146,323 | ||||||||||||
Colony Bankcorp, Inc. | 29,121 | 387,309 | ||||||||||||
Community
Trust Bancorp, Inc.(b) |
52,704 | 2,311,597 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Regional
Banks - 24.2% (Continued) |
||||||||||||||
Community West Bancshares | 31,665 | 550,654 | ||||||||||||
ConnectOne Bancorp, Inc. | 84,319 | 1,931,748 | ||||||||||||
CrossFirst
Bankshares, Inc.(a) |
149,390 | 2,028,716 | ||||||||||||
Customers
Bancorp, Inc.(a) |
17,728 | 1,021,487 | ||||||||||||
Dime Community Bancshares, Inc. | 60,416 | 1,627,003 | ||||||||||||
Eagle Bancorp Montana, Inc. | 18,536 | 292,683 | ||||||||||||
Enterprise Bancorp, Inc. | 47,249 | 1,524,253 | ||||||||||||
Enterprise Financial Services Corp. | 96,578 | 4,312,208 | ||||||||||||
Equity Bancshares, Inc. - Class A | 69,640 | 2,360,796 | ||||||||||||
ESSA Bancorp, Inc. | 38,806 | 776,896 | ||||||||||||
Evans Bancorp, Inc. | 3,396 | 107,076 | ||||||||||||
Farmers National Banc Corp. | 73,359 | 1,060,038 | ||||||||||||
FB Financial Corp. | 113,148 | 4,508,948 | ||||||||||||
Financial Institutions, Inc. | 54,225 | 1,154,993 | ||||||||||||
Finwise
Bancorp(a) |
17,536 | 250,940 | ||||||||||||
First Bancorp, Inc. | 5,634 | 158,991 | ||||||||||||
First Bancorp/Southern Pines | 56,466 | 2,089,807 | ||||||||||||
First Bancshares, Inc. | 75,951 | 2,227,643 | ||||||||||||
First Bank | 68,861 | 1,012,257 | ||||||||||||
First Busey Corp. | 156,237 | 3,877,802 | ||||||||||||
First Business Financial Services, Inc. | 38,126 | 1,528,853 | ||||||||||||
First Capital, Inc. | 11,585 | 316,155 | ||||||||||||
First Commonwealth Financial Corp. | 170,360 | 2,630,358 | ||||||||||||
First Community Bankshares, Inc. | 24,087 | 893,628 | ||||||||||||
First Community Corp. | 30,238 | 651,024 | ||||||||||||
First Financial Bancorp | 214,572 | 5,096,084 | ||||||||||||
First Financial Corp. | 37,541 | 1,615,389 | ||||||||||||
First Financial Northwest, Inc. | 24,187 | 326,041 | ||||||||||||
First Foundation, Inc. | 42,880 | 415,078 | ||||||||||||
First Guaranty Bancshares, Inc. | 34,785 | 386,809 | ||||||||||||
First Merchants Corp. | 131,399 | 4,872,275 | ||||||||||||
First Mid Bancshares, Inc. | 49,191 | 1,704,960 | ||||||||||||
First National Corp. | 11,085 | 241,099 | ||||||||||||
First Northwest Bancorp | 14,002 | 223,192 | ||||||||||||
First of Long Island Corp. | 47,290 | 626,120 | ||||||||||||
First Savings Financial Group, Inc. | 27,721 | 465,713 | ||||||||||||
First United Corp. | 14,944 | 351,333 | ||||||||||||
First US Bancshares, Inc. | 5,634 | 59,833 | ||||||||||||
First
Western Financial, Inc.(a) |
20,729 | 411,056 | ||||||||||||
Flushing Financial Corp. | 28,695 | 472,894 | ||||||||||||
FNCB Bancorp, Inc. | 105,181 | 714,179 | ||||||||||||
Franklin Financial Services Corp. | 25,804 | 814,116 | ||||||||||||
FS Bancorp, Inc. | 28,162 | 1,040,868 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Regional
Banks - 24.2% (Continued) |
||||||||||||||
FVCBankcorp,
Inc.(a) |
44,425 | 630,835 | ||||||||||||
Great Southern Bancorp, Inc. | 16,052 | 952,686 | ||||||||||||
Guaranty Bancshares, Inc. | 20,058 | 674,350 | ||||||||||||
Hanmi Financial Corp. | 59,471 | 1,153,737 | ||||||||||||
HarborOne Bancorp, Inc. | 96,132 | 1,151,661 | ||||||||||||
Hawthorn Bancshares, Inc. | 22,279 | 565,218 | ||||||||||||
Heartland Financial USA, Inc. | 117,647 | 4,424,704 | ||||||||||||
Heritage Commerce Corp. | 122,860 | 1,218,771 | ||||||||||||
Heritage Financial Corp. | 92,101 | 1,970,040 | ||||||||||||
HMN Financial, Inc. | 26,304 | 604,992 | ||||||||||||
Home Bancorp, Inc. | 24,584 | 1,032,774 | ||||||||||||
HomeTrust Bancshares, Inc. | 18,436 | 496,297 | ||||||||||||
Hope Bancorp, Inc. | 257,381 | 3,109,162 | ||||||||||||
Horizon Bancorp, Inc. | 76,922 | 1,100,754 | ||||||||||||
Independent Bank Corp. | 76,912 | 2,001,250 | ||||||||||||
Independent Bank Group, Inc. | 103,514 | 5,266,791 | ||||||||||||
Investar Holding Corp. | 42,233 | 629,694 | ||||||||||||
Kearny Financial Corp. | 136,867 | 1,227,697 | ||||||||||||
Lakeland Bancorp, Inc. | 76,263 | 1,127,930 | ||||||||||||
Landmark Bancorp, Inc. | 11,169 | 216,453 | ||||||||||||
LCNB Corp. | 45,557 | 718,434 | ||||||||||||
Luther
Burbank Corp.(a) |
171,219 | 1,833,755 | ||||||||||||
Macatawa Bank Corp. | 10,478 | 118,192 | ||||||||||||
MainStreet Bancshares, Inc. | 34,112 | 846,319 | ||||||||||||
Mercantile Bank Corp. | 43,037 | 1,737,834 | ||||||||||||
Metrocity Bankshares, Inc. | 41,285 | 991,666 | ||||||||||||
Mid Penn Bancorp, Inc. | 28,993 | 703,950 | ||||||||||||
Middlefield Banc Corp. | 15,519 | 502,350 | ||||||||||||
Midland States Bancorp, Inc. | 59,959 | 1,652,470 | ||||||||||||
MidWestOne Financial Group, Inc. | 49,191 | 1,323,730 | ||||||||||||
Nicolet Bankshares, Inc. | 31,233 | 2,513,632 | ||||||||||||
Northeast Bank | 19,653 | 1,084,649 | ||||||||||||
Northeast Community Bancorp, Inc. | 49,995 | 886,911 | ||||||||||||
Northfield Bancorp, Inc. | 128,401 | 1,615,285 | ||||||||||||
Northrim BanCorp, Inc. | 17,109 | 978,806 | ||||||||||||
Northwest Bancshares, Inc. | 279,747 | 3,491,243 | ||||||||||||
Oak
Valley Bancorp(b) |
31,158 | 933,182 | ||||||||||||
OceanFirst Financial Corp. | 187,392 | 3,253,125 | ||||||||||||
OFG Bancorp | 39,453 | 1,478,698 | ||||||||||||
Ohio Valley Banc Corp. | 6,951 | 159,873 | ||||||||||||
Old Point Financial Corp. | 15,019 | 266,287 | ||||||||||||
Old Second Bancorp, Inc. | 94,012 | 1,451,545 | ||||||||||||
OP Bancorp | 41,023 | 449,202 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Regional
Banks - 24.2% (Continued) |
||||||||||||||
Origin Bancorp, Inc. | 69,837 | 2,484,102 | ||||||||||||
Orrstown Financial Services, Inc. | 20,517 | 605,252 | ||||||||||||
Parke Bancorp, Inc. | 43,299 | 876,805 | ||||||||||||
Pathward Financial, Inc. | 34,711 | 1,837,253 | ||||||||||||
Patriot
National Bancorp, Inc.(a) |
7,451 | 28,537 | ||||||||||||
PCB Bancorp | 42,640 | 785,855 | ||||||||||||
Peapack-Gladstone Financial Corp. | 47,936 | 1,429,452 | ||||||||||||
Penns Woods Bancorp, Inc. | 22,370 | 503,549 | ||||||||||||
Peoples Bancorp of North Carolina, Inc. | 24,899 | 751,701 | ||||||||||||
Peoples Bancorp, Inc. | 124,547 | 4,204,707 | ||||||||||||
Peoples Financial Services Corp. | 24,687 | 1,202,257 | ||||||||||||
Pioneer
Bancorp, Inc.(a) |
46,974 | 470,210 | ||||||||||||
Plumas Bancorp | 2,317 | 95,808 | ||||||||||||
Ponce
Financial Group, Inc.(a) |
15,919 | 155,369 | ||||||||||||
Preferred Bank | 38,054 | 2,779,845 | ||||||||||||
Premier Financial Corp. | 15,245 | 367,405 | ||||||||||||
Primis Financial Corp. | 44,756 | 566,611 | ||||||||||||
Princeton Bancorp, Inc. | 26,304 | 944,314 | ||||||||||||
Provident
Bancorp, Inc.(a) |
32,755 | 329,843 | ||||||||||||
Provident Financial Holdings, Inc. | 21,256 | 268,038 | ||||||||||||
Provident Financial Services, Inc. | 195,877 | 3,531,662 | ||||||||||||
QCR Holdings, Inc. | 52,291 | 3,053,271 | ||||||||||||
RBB Bancorp | 43,318 | 824,775 | ||||||||||||
Red River Bancshares, Inc. | 1,350 | 75,749 | ||||||||||||
Renasant Corp. | 137,839 | 4,642,418 | ||||||||||||
Republic Bancorp, Inc. - Class A | 52,101 | 2,873,891 | ||||||||||||
Rhinebeck
Bancorp, Inc.(a) |
41,023 | 330,235 | ||||||||||||
Riverview Bancorp, Inc. | 73,256 | 468,838 | ||||||||||||
S&T Bancorp, Inc. | 126,214 | 4,218,072 | ||||||||||||
Sandy Spring Bancorp, Inc. | 91,729 | 2,498,698 | ||||||||||||
SB Financial Group, Inc. | 30,916 | 471,160 | ||||||||||||
Shore Bancshares, Inc. | 120,446 | 1,716,356 | ||||||||||||
Sierra Bancorp | 61,302 | 1,382,360 | ||||||||||||
Simmons First National Corp. - Class A | 122,987 | 2,440,062 | ||||||||||||
SmartFinancial, Inc. | 55,062 | 1,348,468 | ||||||||||||
Sound Financial Bancorp, Inc. | 11,785 | 459,615 | ||||||||||||
South Plains Financial, Inc. | 87,997 | 2,548,393 | ||||||||||||
Southern
First Bancshares, Inc.(a) |
11,985 | 444,644 | ||||||||||||
Southern Missouri Bancorp, Inc. | 16,476 | 879,654 | ||||||||||||
Southern States Bancshares, Inc. | 5,790 | 169,531 | ||||||||||||
Southside Bancshares, Inc. | 60,558 | 1,896,677 | ||||||||||||
Stellar Bancorp, Inc. | 77,620 | 2,160,941 | ||||||||||||
Sterling
Bancorp, Inc.(a) |
145,512 | 839,604 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Regional
Banks - 24.2% (Continued) |
||||||||||||||
Summit Financial Group, Inc. | 51,708 | 1,586,919 | ||||||||||||
Summit State Bank | 21,016 | 252,192 | ||||||||||||
Third
Coast Bancshares, Inc.(a) |
23,363 | 464,223 | ||||||||||||
Timberland Bancorp, Inc. | 43,065 | 1,354,825 | ||||||||||||
Towne Bank | 182,005 | 5,416,468 | ||||||||||||
TriCo Bancshares | 19,803 | 850,935 | ||||||||||||
TrustCo Bank Corp. | 58,413 | 1,813,724 | ||||||||||||
Trustmark Corp. | 168,420 | 4,695,550 | ||||||||||||
Union Bankshares, Inc. | 400 | 12,260 | ||||||||||||
United Bancorp, Inc. | 1,509 | 19,225 | ||||||||||||
United Security Bancshares | 40,399 | 339,756 | ||||||||||||
Unity Bancorp, Inc. | 27,435 | 811,802 | ||||||||||||
Univest Financial Corp. | 76,576 | 1,686,969 | ||||||||||||
Veritex Holdings, Inc. | 138,131 | 3,214,308 | ||||||||||||
Virginia National Bankshares Corp. | 1,687 | 57,999 | ||||||||||||
WaFd, Inc. | 177,657 | 5,855,574 | ||||||||||||
Washington Trust Bancorp, Inc. | 36,742 | 1,189,706 | ||||||||||||
WesBanco, Inc. | 151,560 | 4,754,437 | ||||||||||||
Western New England Bancorp, Inc. | 64,875 | 583,875 | ||||||||||||
270,419,767 | ||||||||||||||
Reinsurance - 0.6% | ||||||||||||||
SiriusPoint
Ltd.(a) |
546,379 | 6,337,996 | ||||||||||||
Research & Consulting Services - 0.3% | ||||||||||||||
Mistras
Group, Inc.(a) |
157,708 | 1,154,423 | ||||||||||||
Resources Connection, Inc. | 129,090 | 1,829,205 | ||||||||||||
2,983,628 | ||||||||||||||
Restaurants - 0.4% | ||||||||||||||
Ark Restaurants Corp. | 16,319 | 230,914 | ||||||||||||
Biglari
Holdings, Inc. - Class B(a) |
7,651 | 1,261,879 | ||||||||||||
Carrols Restaurant Group, Inc. | 197,493 | 1,556,245 | ||||||||||||
El
Pollo Loco Holdings, Inc.(a) |
136,196 | 1,201,249 | ||||||||||||
Flanigan's Enterprises, Inc. | 11,585 | 297,966 | ||||||||||||
Good
Times Restaurants, Inc.(a) |
31,038 | 78,837 | ||||||||||||
4,627,090 | ||||||||||||||
Semiconductor Materials & Equipment - 0.6% | ||||||||||||||
AXT,
Inc.(a) |
146,751 | 352,202 | ||||||||||||
Photronics,
Inc.(a) |
201,776 | 6,329,714 | ||||||||||||
Trio-Tech
International(a) |
28,121 | 142,573 | ||||||||||||
6,824,489 |
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Semiconductors - 0.3% | ||||||||||||||
Alpha
& Omega Semiconductor Ltd.(a) |
93,853 | 2,445,809 | ||||||||||||
Magnachip
Semiconductor Corp.(a) |
176,223 | 1,321,673 | ||||||||||||
3,767,482 | ||||||||||||||
Specialized Finance - 0.6% | ||||||||||||||
Acacia
Research Corp.(a) |
159,526 | 625,342 | ||||||||||||
A-Mark Precious Metals, Inc. | 73,988 | 2,238,137 | ||||||||||||
Banco Latinoamericano de Comercio Exterior SA | 113,225 | 2,801,187 | ||||||||||||
SWK
Holdings Corp.(a) |
46,462 | 814,479 | ||||||||||||
6,479,145 | ||||||||||||||
Specialty Chemicals - 0.2% | ||||||||||||||
Rayonier
Advanced Materials, Inc.(a) |
238,991 | 967,914 | ||||||||||||
Valhi, Inc. | 108,379 | 1,646,277 | ||||||||||||
2,614,191 | ||||||||||||||
Steel - 2.9% | ||||||||||||||
Ascent
Industries Co.(a) |
34,820 | 332,879 | ||||||||||||
Friedman Industries, Inc. | 28,521 | 440,935 | ||||||||||||
Olympic Steel, Inc. | 47,113 | 3,142,437 | ||||||||||||
Ramaco
Resources, Inc.(a) |
93,848 | 1,612,309 | ||||||||||||
Ramaco Resources, Inc. - Class B | 18,472 | 245,862 | ||||||||||||
Ryerson Holding Corp. | 157,070 | 5,447,188 | ||||||||||||
Steel
- 2.9% (Continued) |
||||||||||||||
Schnitzer Steel Industries, Inc. - Class A | 103,412 | 3,118,906 | ||||||||||||
SunCoke Energy, Inc. | 376,295 | 4,041,408 | ||||||||||||
TimkenSteel
Corp.(a) |
195,898 | 4,593,808 | ||||||||||||
Universal
Stainless & Alloy Products, Inc.(a) |
11,585 | 232,627 | ||||||||||||
Warrior Met Coal, Inc. | 143,829 | 8,769,254 | ||||||||||||
31,977,613 | ||||||||||||||
Systems Software - 0.5% | ||||||||||||||
Adeia, Inc. | 410,583 | 5,087,123 | ||||||||||||
Technology Distributors - 0.2% | ||||||||||||||
ScanSource,
Inc.(a) |
61,432 | 2,433,322 | ||||||||||||
Technology Hardware, Storage & Peripherals - 0.7% | ||||||||||||||
Eastman
Kodak Co.(a) |
179,160 | 698,724 | ||||||||||||
Xerox Holdings Corp. | 410,592 | 7,526,151 | ||||||||||||
8,224,875 | ||||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
COMMON
STOCKS - 99.6% |
Shares |
Value | ||||||||||||
Textiles
- 0.0%(c) |
||||||||||||||
Crown Crafts, Inc. | 35,122 | 174,205 | ||||||||||||
Unifi,
Inc.(a) |
29,838 | 198,721 | ||||||||||||
372,926 | ||||||||||||||
Trading Companies & Distributors - 0.7% | ||||||||||||||
BlueLinx
Holdings, Inc.(a) |
36,655 | 4,153,377 | ||||||||||||
Hudson
Technologies, Inc.(a) |
170 | 2,293 | ||||||||||||
MRC
Global, Inc.(a) |
77,752 | 856,050 | ||||||||||||
Titan
Machinery, Inc.(a) |
80,829 | 2,334,342 | ||||||||||||
Willis
Lease Finance Corp.(a) |
20,487 | 1,001,405 | ||||||||||||
8,347,467 | ||||||||||||||
Transaction & Payment Processing Services - 0.2% | ||||||||||||||
BM
Technologies, Inc.(a)(b) |
35,072 | 71,898 | ||||||||||||
Repay
Holdings Corp.(a) |
289,026 | 2,468,282 | ||||||||||||
2,540,180 | ||||||||||||||
Wireless Telecommunication Services - 1.3% | ||||||||||||||
Telephone and Data Systems, Inc. | 364,405 | 6,686,832 | ||||||||||||
Tingo
Group, Inc.(a)(d) |
172,141 | 117,624 | ||||||||||||
United
States Cellular Corp.(a) |
175,987 | 7,310,500 | ||||||||||||
14,114,956 | ||||||||||||||
TOTAL
COMMON
STOCKS
(Cost $890,941,371) |
1,112,918,134 | |||||||||||||
REAL
ESTATE INVESTMENT TRUSTS
- 0.1% |
||||||||||||||
Mortgage REITs - 0.1% | ||||||||||||||
AFC Gamma, Inc. | 47,474 | 571,112 | ||||||||||||
Real
Estate Operating Companies - 0.0%(c) |
||||||||||||||
Transcontinental
Realty Investors, Inc.(a) |
1,400 | 48,384 | ||||||||||||
TOTAL
REAL
ESTATE INVESTMENT TRUSTS
(Cost $777,911) |
619,496 | |||||||||||||
CLOSED
END FUNDS - 0.0%(c) |
||||||||||||||
Logan Ridge Finance Corp. | 11,685 | 260,926 | ||||||||||||
TOTAL
CLOSED
END FUNDS
(Cost $279,056) |
260,926 | |||||||||||||
RIGHTS
- 0.0%(c) |
||||||||||||||
Communication
Systems/Pineapple Holdings Inc. CVR(a)(d) |
3,750 | — | ||||||||||||
Resolute
Forest Products CVR(a)(d) |
236,000 | 68,440 | ||||||||||||
TOTAL
RIGHTS
(Cost $0) |
68,440 | |||||||||||||
EA
BRIDGEWAY OMNI SMALL-CAP VALUE ETF | ||
Schedule
of Investments (Continued) | ||
December 31, 2023 (Unaudited) |
WARRANTS
- 0.0%(c) |
Contracts |
Value | ||||||||||||
Oil
& Gas Drilling -
0.0%(c) |
||||||||||||||
Nabors
Industries Ltd., Expires June 11, 2026, Exercise Price $166.67(a) |
5,200 | 54,600 | ||||||||||||
TOTAL
WARRANTS
(Cost $0) |
54,600 | |||||||||||||
PREFERRED
STOCKS
- 0.0%(c) |
Shares | |||||||||||||
Air
Freight & Logistics - 0.0%(c) |
||||||||||||||
Air
T Funding, 8.00%, 06/07/2049 |
|
529 | 8,834 | |||||||||||
TOTAL
PREFERRED
STOCKS
(Cost $11,003) |
8,834 | |||||||||||||
SHORT-TERM INVESTMENTS - 0.9% | ||||||||||||||
Investments
Purchased with Proceeds from Securities Lending
- 0.7% |
||||||||||||||
First
American Government Obligations Fund - Class X, 5.30%(e) |
7,012,188 | 7,012,188 | ||||||||||||
Money
Market Funds
- 0.2% |
||||||||||||||
First
American Government Obligations Fund - Class X, 5.30%(e) |
2,507,601 | 2,507,601 | ||||||||||||
TOTAL
SHORT-TERM INVESTMENTS
(Cost $9,519,789) |
9,519,789 | |||||||||||||
TOTAL
INVESTMENTS - 100.6% (Cost
$901,529,130) |
$ | 1,123,450,219 | ||||||||||||
Liabilities in Excess of Other Assets - (0.6)% | (6,570,313) | |||||||||||||
TOTAL NET ASSETS - 100.0% | $ | 1,116,879,906 |
(a) | Non-income producing security. | |||||||
(b) | All or a portion of this security is on loan as of December 31, 2023. The total market value of these securities was $6,589,760 which represented 0.6% of net assets. | |||||||
(c) | Represents less than 0.05% of net assets. | |||||||
(d) | Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting through its Valuation Committee. These securities represented $186,064 or 0.0% of net assets as of December 31, 2023. | |||||||
(e) | The rate shown represents the 7-day effective yield as of December 31, 2023. |
STATEMENT
OF ASSETS AND LIABILITIES | ||
December 31, 2023 (Unaudited) |
EA Bridgeway Blue Chip ETF | EA Bridgeway Omni Small-Cap Value ETF | ||||||||||
Assets: | |||||||||||
Investments
in securities, at value (1) |
$ | 131,052,375 | $ | 1,123,450,219 | |||||||
Cash | — | 8,186 | |||||||||
Receivable for investments sold | 5,443,894 | — | |||||||||
Receivable for fund shares sold | 2,594,850 | 2,098,740 | |||||||||
Dividends and interest receivable | 66,677 | 792,265 | |||||||||
Securities lending income receivable (Note 5) | — | 24,315 | |||||||||
Total assets | 139,157,796 | 1,126,373,725 | |||||||||
Liabilities: | |||||||||||
Payable for investment securities purchased | $ | 5,487,455 | $ | 2,064,075 | |||||||
Payable for fund shares redeemed | 2,588,950 | — | |||||||||
Due to securities lending agent (Note 5) | — | 7,012,188 | |||||||||
Accrued
investment advisory fees (Note 4) |
16,441 | 417,556 | |||||||||
Total liabilities | 8,092,846 | 9,493,819 | |||||||||
Net Assets | $ | 131,064,950 | $ | 1,116,879,906 | |||||||
Net Assets Consist of: | |||||||||||
Paid-in capital | $ | 58,401,917 | $ | 824,968,131 | |||||||
Total distributable earnings (accumulated deficit) | 72,663,033 | 291,911,775 | |||||||||
Net Assets: | $ | 131,064,950 | $ | 1,116,879,906 | |||||||
Calculation of Net Asset Value Per Share: | |||||||||||
Net Assets | $ | 131,064,950 | $ | 1,116,879,906 | |||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 12,656,288 | 53,216,561 | |||||||||
Net Asset Value per Share | $ | 10.36 | $ | 20.99 | |||||||
Cost of Investments in Securities | $ | 66,564,201 | $ | 901,529,130 | |||||||
(1)
Includes
loaned securities with a value of |
$ | — | $ | 6,589,760 |
STATEMENT
OF OPERATIONS | ||
For the Period Ended December 31, 2023 (Unaudited) |
EA Bridgeway Blue Chip ETF | EA Bridgeway Omni Small-Cap Value ETF | ||||||||||
Investment Income: | |||||||||||
Dividend income (net of foreign withholding tax of $0 & $11,560, respectively) | $ | 1,168,705 | $ | 9,798,581 | |||||||
Interest income | 8,946 | 44,609 | |||||||||
Securities
lending income, net (See Note 5) |
— | 102,087 | |||||||||
Total investment income | 1,177,651 | 9,945,277 | |||||||||
Expenses: | |||||||||||
Investment
advisory fees (Note 4) |
91,451 | 2,102,154 | |||||||||
Net expenses | 91,451 | 2,102,154 | |||||||||
Net Investment Income (Loss) | 1,086,200 | 7,843,123 | |||||||||
Realized and Unrealized Gain (Loss) on Investments: | |||||||||||
Net realized gain (loss) on: | |||||||||||
Investments
|
9,377,758 | 77,403,394 | |||||||||
9,377,758 | 77,403,394 | ||||||||||
Net change in unrealized appreciation (depreciation) on: | |||||||||||
Investments | (1,727,374) | 90,057,728 | |||||||||
(1,727,374) | 90,057,728 | ||||||||||
Net realized and unrealized gain (loss) on investments: | 7,650,384 | 167,461,122 | |||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 8,736,584 | $ | 175,304,245 |
STATEMENT
OF CHANGES IN NET ASSETS |
EA
Bridgeway Blue Chip ETF |
EA
Bridgeway Omni Small-Cap Value ETF | ||||||||||||||||||||||
For the Period Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 ⁽¹⁾ | For the Period Ended December 31, 2023 (Unaudited) | Year Ended June 30, 2023 ⁽²⁾ | ||||||||||||||||||||
Increase (Decrease) in Net Assets from: | |||||||||||||||||||||||
Operations: | |||||||||||||||||||||||
Net investment income (loss) | $ | 1,086,200 | $ | 3,658,154 | $ | 7,843,123 | $ | 15,821,551 | |||||||||||||||
Net realized gain (loss) on investments | 9,377,758 | 124,406,295 | 77,403,394 | 53,987,821 | |||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | (1,727,374) | (99,720,655) | 90,057,728 | (35,972,003) | |||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 8,736,584 | 28,343,794 | 175,304,245 | 33,837,369 | |||||||||||||||||||
Distributions to Shareholders: | |||||||||||||||||||||||
Distributable earnings | (2,206,508) | (92,657,053) | (15,734,014) | (99,730,578) | |||||||||||||||||||
Total distributions to shareholders | (2,206,508) | (92,657,053) | (15,734,014) | (99,730,578) | |||||||||||||||||||
Capital Share Transactions: | |||||||||||||||||||||||
Proceeds from shares sold | 18,338,970 | 56,730,584 | 331,093,790 | 281,727,056 | |||||||||||||||||||
Reinvestment of distributions | — | 45,451,187 | — | 99,141,350 | |||||||||||||||||||
Payments for shares redeemed | (18,068,820) | (239,844,160) | (158,895,435) | (344,419,140) | |||||||||||||||||||
Transaction fees (See Note 1) | 1 | 31 | 97 | 57 | |||||||||||||||||||
Net increase in net assets derived from net change in capital share transactions | 270,151 | (137,662,358) | 172,198,451 | 36,449,323 | |||||||||||||||||||
Net Increase (Decrease) in Net Assets | 6,800,227 | (201,975,617) | 331,768,682 | (29,443,886) | |||||||||||||||||||
Net Assets: | |||||||||||||||||||||||
Beginning of period | 124,264,723 | 326,240,340 | 785,111,224 | 814,555,110 | |||||||||||||||||||
End of period | $ | 131,064,950 | $ | 124,264,723 | $ | 1,116,879,906 | $ | 785,111,224 | |||||||||||||||
Changes in Shares Outstanding: | |||||||||||||||||||||||
Shares outstanding, beginning of period | 12,631,288 | 26,851,745 | 44,066,561 | 41,941,392 | |||||||||||||||||||
Shares sold | 1,850,000 | 6,582,706 | 17,600,000 | 15,464,678 | |||||||||||||||||||
Shares reinvested | — | 4,239,850 | — | 5,489,554 | |||||||||||||||||||
Shares repurchased | (1,825,000) | (25,043,013) | (8,450,000) | (18,829,063) | |||||||||||||||||||
Shares outstanding, end of period | 12,656,288 | 12,631,288 | 53,216,561 | 44,066,561 |
(1) The Fund acquired all of the assets and liabilities of the Bridgeway Blue Chip Fund ("Predecessor Fund") in a reorganization on October 17, 2022. The Predecessor Fund’s Class N Shares' performance and financial history have been adopted by the Fund and will be used going forward. As a result, the information prior to October 17, 2022, will be used going forward. As a result, the information reflects that of the Predecessor Fund's Class N Shares. | ||
(2) The Fund acquired all of the assets and liabilities of the Bridgeway Omni Tax Managed Small-Cap Value Fund ("Predecessor Fund") in a reorganization on March 13, 2023. The Predecessor Fund’s Class N Shares' performance and financial history have been adopted by the Fund and will be used going forward. As a result, the information prior to March 13, 2023, reflects that of the Predecessor Fund's Class N Shares. |
FINANCIAL HIGHLIGHTS | ||
For the Period Ended December 31, 2023 |
Net Asset Value, Beginning of Period |
Net
Investment Income (Loss)(1) |
Net Realized and Unrealized Gain (Loss) on Investments | Net Increase (Decrease) in Net Asset Value Resulting from Operations | Distributions from Net Investment Income | Distributions from Net Realized Gain | Total Distributions | Net Asset Value, End of Period |
Total
Return(2) |
Net Assets, End of Period (000's) |
Net
Expenses(3) |
Gross
Expenses(3) |
Net
Investment Income (Loss)(3) |
Portfolio
Turnover Rate(5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EA Bridgeway Blue Chip ETF | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Period Ended
December
31, 2023 (Unaudited) |
$9.84 | 0.09 | 0.60 | 0.69 | (0.17) | — | (0.17) | $10.36 | 7.06% | $131,065 | 0.15% | 0.15% | 1.78% | 3% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year
Ended June 30, 2023(6) |
$12.15 | 0.20 | 1.84 | 2.04 | (0.26) | (4.09) | (4.35) | $9.84 | 24.50% | $124,265 | 0.15% | 0.22% | 1.90% | 12% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2022 | $15.84 | 0.27 | (1.34) | (1.07) | (0.30) | (2.32) | (2.62) | $12.15 | -9.32% | $326,240 | 0.15% | 0.23% | 1.81% | 24% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2021 | $13.96 | 0.31 | 4.73 | 5.04 | (0.35) | (2.81) | (3.16) | $15.84 | 39.75% | $432,186 | 0.15% | 0.24% | 2.07% | 7% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2020 | $14.99 | 0.33 | 0.28 | 0.61 | (0.32) | (1.32) | (1.64) | $13.96 | 3.49% | $477,400 | 0.15% | 0.27% | 2.28% | 15% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2019 | $14.62 | 0.34 | 1.75 | 2.09 | (0.31) | (1.41) | (1.72) | $14.99 | 16.26% | $505,029 | 0.15% | 0.25% | 2.28% | 20% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EA Bridgeway Omni Small-Cap Value ETF | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For
the Period Ended
December
31, 2023 (Unaudited) |
$17.82 | 0.16 | 3.31 | 3.47 | (0.30) | — | (0.30) | $20.99 | 19.57% | $1,116,880 | 0.47% | 0.47% | 1.75% | 3% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year
Ended June 30, 2023(7) |
$19.42 | 0.37 | 0.53 | 0.90 | (0.45) | (2.05) | (2.50) | $17.82 | 4.41% | $785,111 | 0.47% | 0.62% | 1.93% | 45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2022 | $20.89 | 0.27 | (1.54) | (1.27) | (0.20) | — | (0.20) | $19.42 | -6.17% | $814,555 | 0.47% | 0.67% | 1.26% | 30% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2021 | $10.92 | 0.19 | 9.95 | 10.14 | (0.17) | — | (0.17) | $20.89 | 93.49% | $853,248 | 0.47% | 0.69% | 1.18% | 26% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2020 | $14.43 | 0.19 | (3.63) | (3.44) | (0.07) | — | (0.07) | $10.92 | -23.98% | $427,515 |
0.55%(4) |
0.74%(4) |
1.40% | 63% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2019 | $19.10 | 0.20 | (3.42) | (3.22) | (0.20) | (1.25) | (1.45) | $14.43 | -16.49% | $608,368 | 0.60% | 0.72% | 1.18% | 42% |
(1) Net investment income per share represents net investment income divided by the daily average shares of beneficial interest outstanding throughout the period. | |||||
(2) All returns reflect reinvested dividends, if any, but do not reflect the impact of taxes. Total return for a period of less than one year is not annualized. | |||||
(3) Net expenses include effects of any reimbursement or recoupment. | |||||
(4) Includes interest expense of 0.01%. | |||||
(5) Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes the impact of in-kind transactions. | |||||
(6) EA Bridgeway Blue Chip ETF (the "Fund") acquired all of the assets and liabilities of the Bridgeway Blue Chip Fund (“Predecessor Fund”) in a reorganization on October 17, 2022. Market price returns are calculated using the official closing price listing exchange as of the time that the Fund's NAV of the Fund on the is calculated. Prior to the Fund's listing on October 17, 2022, the NAV performance of the Class N Shares of the Predecessor Fund are used as proxy market price returns. | |||||
(7) EA Bridgeway Omni Small-Cap Value ETF (the "Fund") acquired all of the assets and liabilities of the Bridgeway Omni Tax Managed Small-Cap Value Fund (“Predecessor Fund”) in a reorganization on March 13, 2023. Market price returns are calculated using the official closing price listing exchange as of the time that the Fund's NAV of the Fund on the is calculated. Prior to the Fund's listing on March 13, 2023, the NAV performance of the Class N Shares of the Predecessor Fund are used as proxy market price returns. |
NOTES
TO THE FINANCIAL STATEMENTS | ||
December 31,
2023 (Unaudited) |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | ||||||||||||||||||||||
EA
Bridgeway Blue Chip ETF* | ||||||||||||||||||||||||||
Common Stocks | $ | 130,803,035 | $ | — | $ | — | $ | 130,803,035 | ||||||||||||||||||
Money Market Funds | 249,340 | — | — | 249,340 | ||||||||||||||||||||||
Total Investments in Securities | $ | 131,052,375 | $ | — | $ | — | $ | 131,052,375 |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | ||||||||||||||||||||||
EA
Bridgeway Omni Small-Cap Value ETF* | ||||||||||||||||||||||||||
Common Stocks | $ | 1,112,800,510 | $ | — | $ | 117,624 | $ | 1,112,918,134 | ||||||||||||||||||
Real Estate Investment Trusts | 619,496 | — | — | 619,496 | ||||||||||||||||||||||
Closed End Funds | 260,926 | — | — | 260,926 | ||||||||||||||||||||||
Preferred Stocks | 8,834 | — | — | 8,834 | ||||||||||||||||||||||
Rights | — | — | 68,440 | 68,440 | ||||||||||||||||||||||
Warrants | 54,600 | — | — | 54,600 | ||||||||||||||||||||||
Investments Purchased with Proceeds from Securities Lending | 7,012,188 | — | — | 7,012,188 | ||||||||||||||||||||||
Money Market Funds | 2,507,601 | — | — | 2,507,601 | ||||||||||||||||||||||
Total Investments in Securities | $ | 1,123,264,155 | $ | — | $ | 186,064 | $ | 1,123,450,219 |
EA Bridgeway Omni Small-Cap Value ETF | ||||||||||||||
Rights |
Common
Stock | |||||||||||||
Value, Beginning of Year | $ | 68,440 | $ | — | ||||||||||
Purchases | — | — | ||||||||||||
Proceeds from Sales | — | — | ||||||||||||
Net Realized Gains (Losses) | — | — | ||||||||||||
Return of Capital | — | — | ||||||||||||
Change in Unrealized Appreciation (Depreciation) | — | — | ||||||||||||
Transfers In/(Out) of Level 3 | — | 117,624 | ||||||||||||
Value, End of Year | $ | 68,440 | $ | 117,624 |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
Distributable Earnings | Paid In Capital | |||||||||||||
Bridgeway
Blue Chip ETF |
$ | (79,596,084) | $ | 79,596,084 | ||||||||||
Bridgeway
Omni Small-Cap Value ETF |
$ | (58,194,831) | $ | 58,194,831 |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
Fund | AUM Level | Fee | ||||||
EA Bridgeway Blue Chip ETF | < 3 billion | 15 bps | ||||||
3 billion to 10 billion | 13 bps | |||||||
10 billion to 20 billion | 12 bps | |||||||
> 20 billion | 11 bps | |||||||
EA Bridgeway Omni Small-Cap Value ETF | < 1 billion | 47 bps | ||||||
1 billion to 2 billion | 42 bps | |||||||
> 2 billion | 40 bps | |||||||
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
Values
of Securities on Loan |
Payment
for Collateral received* |
Percentage
of Net Assets of Securities on Loan | |||||||||||||||
$ | 6,589,760 | $ | 7,012,188 |
0.59% |
Purchases | Sales | ||||||||||
EA Bridgeway Blue Chip ETF | $ | 6,986,522 | $ | 3,660,519 | |||||||
EA Bridgeway Omni Small-Cap Value ETF | 164,170,984 | 23,329,479 |
Purchases | Sales | ||||||||||
EA Bridgeway Blue Chip ETF | $ | 10,292,018 | $ | 14,321,950 | |||||||
EA Bridgeway Omni Small-Cap Value ETF | 177,581,752 | 153,744,702 |
Short Term | Long Term | ||||||||||
EA Bridgeway Blue Chip ETF | $ | 204,449 | $ | 9,196,370 | |||||||
EA Bridgeway Omni Small-Cap Value ETF | 7,162,554 | 74,647,924 |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
EA Bridgeway Blue Chip ETF | EA Bridgeway Omni Small-Cap Value ETF | ||||||||||
Tax cost of Investments | $ | 58,973,820 | $ | 660,992,098 | |||||||
Unrealized Appreciation | 66,575,774 | 170,663,236 | |||||||||
Unrealized Depreciation | (1,261,183) | (39,371,116) | |||||||||
Net tax unrealized appreciation (depreciation) | 65,314,591 | 131,292,120 | |||||||||
Undistributed OI | 813,968 | 4,827,153 | |||||||||
Undistributed LTG | 4,398 | — | |||||||||
Distributable earnings | 818,366 | 4,827,153 | |||||||||
Other accumulated gain/(loss) | — | (3,777,729) | |||||||||
Total accumulated gain/(loss) | $ | 66,132,957 | $ | 132,341,544 |
Unlimited Short Term Capital Loss Carryover |
Unlimited Long Term Capital Loss Carryover | Total Capital Loss Carryover | ||||||||||||||||||
EA Bridgeway Blue Chip ETF | $ | — | $ | — | $ | — | ||||||||||||||
EA Bridgeway Omni Small-Cap Value ETF | $ | (3,777,729) | $ | — | $ | (3,777,729) |
EA Bridgeway Blue Chip ETF | EA Bridgeway Omni Small-Cap Value ETF | ||||||||||
Ordinary Income | $ | 2,206,508 | $ | 15,734,014 | |||||||
Total Distributions Paid | $ | 2,206,508 | $ | 15,734,014 |
EA Bridgeway Blue Chip ETF | EA Bridgeway Omni Small-Cap Value ETF | ||||||||||
Ordinary Income | $ | 5,479,841 | $ | 21,115,457 | |||||||
Long Term Capital Gain | 87,177,212 | 78,615,121 | |||||||||
Total Distributions Paid | $ | 92,657,053 | $ | 99,730,578 |
NOTES
TO THE FINANCIAL STATEMENTS (CONTINUED) | ||
December 31,
2023 (Unaudited) |
EXPENSE
EXAMPLE | ||
December 31, 2023 (Unaudited) |
Annualized Expense Ratio |
Beginning
Account Value July 1, 2023 |
Ending Account Value December 31, 2023 | Expenses Paid During the Period | ||||||||||||||||||||
EA
Bridgeway Blue Chip ETF1 |
|||||||||||||||||||||||
Actual | 0.15% | $ | 1,000.00 | $ | 1,070.60 | $0.78 | |||||||||||||||||
Hypothetical (5% annual return before expenses) | 0.15% | 1,000.00 | 1,024.38 | 0.76 |
EXPENSE
EXAMPLE | ||
December 31, 2023 (Unaudited) |
Annualized Expense Ratio |
Beginning
Account Value July 1, 2023 |
Ending Account Value December 31, 2023 | Expenses Paid During the Period | ||||||||||||||||||||
EA
Bridgeway Omni Small-Cap Value ETF1 |
|||||||||||||||||||||||
Actual | 0.47% | $ | 1,000.00 | $ | 1,195.70 | $2.59 | |||||||||||||||||
Hypothetical (5% annual return before expenses) | 0.47% | 1,000.00 | 1,022.77 | 2.39 |
REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM (UNAUDITED) |
FEDERAL TAX INFORMATION (UNAUDITED) |
EA Bridgeway Blue Chip ETF | 100.00% | ||||
EA Bridgeway Omni Small-Cap Value ETF | 100.00% |
EA Bridgeway Blue Chip ETF | 100.00% | ||||
EA Bridgeway Omni Small-Cap Value ETF | 76.88% |
MANAGEMENT OF THE FUND (CONTINUED) |
Name
and Year of Birth |
Position(s)
Held with Trust |
Term
of Office and Length of Time Served |
Principal Occupation During Past 5 Years | Number
of Funds in Fund Complex Overseen by Trustee |
Other
Directorships Held by Trustee During Past 5 Years | ||||||||||||
Independent Trustees | |||||||||||||||||
Daniel
Dorn Born: 1975 |
Trustee | Indefinite
term; Since 2014 |
Associate Professor of Finance, Drexel University, LeBow College of Business (2003–present). | 49 | None | ||||||||||||
Michael
S. Pagano, Ph.D., CFA® Born: 1962 |
Trustee and Audit Committee Chairman | Indefinite
term; Since 2014 |
The Robert J. and Mary Ellen Darretta Endowed Chair in Finance, Villanova University (1999–present); Founder, Michael S. Pagano, LLC (business consulting firm) (2008–present). | 49 | Citadel Federal Credit Union (pro bono service for non-profit) | ||||||||||||
Chukwuemeka
(Emeka) O. Oguh Born: 1983 |
Trustee | Indefinite
term; Since 2018 |
Co-founder and CEO, PeopleJoy (2016–present). | 49 | None | ||||||||||||
Interested Trustee* | |||||||||||||||||
Wesley
R. Gray, Ph.D. Born: 1980 |
Trustee and Chairman | Indefinite
term; Since 2014; President (2014 – 2023) |
Founder and Executive Managing Member, EA Advisers (2013–present); Founder and Executive Managing Member, Empirical Finance, LLC d/b/a Alpha Architect (2010–present). | 49 | None |
MANAGEMENT OF THE FUND (CONTINUED) |
Name and Year of Birth | Position(s) Held with Trust |
Term
of Office and Length of Time Served |
Principal Occupation During Past 5 Years | ||||||||
Patrick
R. Cleary Born: 1982 |
President and Chief Executive Officer | Since
2023; Chief Compliance Officer (2015 – 2022); Secretary (2015 – 2023) |
Chief Operating Officer and Managing Member, Alpha Architect (2014 – present); Chief Executive Officer of EA Advisers (2021 – present). | ||||||||
Alyssa
M. Bernard Born: 1988 |
Secretary | Since 2023 | General Counsel, EA Advisers (October 2023–present); Vice President—Regulatory Administration, U.S. Bank Global Fund Services (2021–2023); Assistant Vice President—Regulatory Administration, U.S. Bank Global Fund Services (2018–2021). | ||||||||
Sean
Hegarty Born: 1993 |
Treasurer, Chief Financial Officer and Comptroller | Since 2023; Assistant Treasurer (2022 – 2023) | Chief Operating Officer, EA Advisers (2022–present); Assistant Vice President—Fund Administration, U.S. Bank Global Fund Services (2018–2022); Staff Accountant, Cohen & Company (2015–2018). | ||||||||
Jessica
Leighty Born: 1981 |
Chief Compliance Officer | Since 2022 | Chief Compliance Officer, EA Advisers (2021–present); Chief Compliance Officer, Alpha Architect (2021 – present); Chief Compliance Officer, Snow Capital (2015–2021). | ||||||||
Brian
P. Massaro Born: 1997 |
Assistant Treasurer | Since 2023 | Chief Technology Officer, EA Advisers (2023 – present); Assistant Operating Officer, EA Advisers (2022 – present); Mutual Funds Administrator, U.S. Bank Global Fund Services (2019–2022). |
INFORMATION ABOUT PORTFOLIO HOLDINGS (UNAUDITED) |
INFORMATION ABOUT PROXY VOTING (UNAUDITED) |
FREQUENCY
DISTRIBUTION OF PREMIUMS AND DISCOUNTS (UNAUDITED) |
PRIVACY POLICY (UNAUDITED) |