Strive U.S. Energy ETF
Strive 500 ETF
Strive U.S. Semiconductor ETF
Strive Emerging Markets Ex-China ETF
Strive 1000 Dividend Growth ETF
Strive 1000 Growth ETF
Strive 1000 Value ETF
Strive Small-Cap ETF
Semi-Annual Report
January 31, 2023
STRIVE ETFs
TABLE OF CONTENTS
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive U.S. Energy ETF
Sector1 | %
Net Assets |
|||
Energy | 93.2 | % | ||
Utilities | 5.7 | % | ||
Industrials | 0.8 | % | ||
Other2 | 0.3 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive 500 ETF
Sector1 | %
Net Assets |
|||
Information Technology | 27.2 | %2 | ||
Health Care | 14.7 | % | ||
Financials | 11.3 | % | ||
Consumer Discretionary | 10.5 | % | ||
Industrials | 8.1 | % | ||
Communication Services | 8.0 | % | ||
Consumer Staples | 6.6 | % | ||
Energy | 5.1 | % | ||
Utilities | 2.8 | % | ||
Real Estate | 2.7 | % | ||
Materials | 2.5 | % | ||
Other3 | 0.5 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. |
3. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
1
STRIVE ETFs
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive U.S. Semiconductor ETF
Sector1 | %
Net Assets |
|||
Information Technology | 99.7 | % | ||
Other2 | 0.3 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive Emerging Markets Ex-China ETF
Sector1 | %
Net Assets |
|||
Financials | 30.2 | %2 | ||
Information Technology | 27.3 | %2 | ||
Materials | 9.9 | % | ||
Energy | 8.6 | % | ||
Industrials | 6.3 | % | ||
Communication Services | 5.0 | % | ||
Consumer Staples | 4.3 | % | ||
Consumer Discretionary | 3.6 | % | ||
Health Care | 1.4 | % | ||
Real Estate | 0.7 | % | ||
Utilities | 0.6 | % | ||
Other3 | 2.1 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. |
3. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
2
STRIVE ETFs
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive 1000 Dividend Growth ETF
Sector1 | %
Net Assets |
|||
Information Technology | 27.6 | %2 | ||
Health Care | 22.4 | % | ||
Industrials | 12.8 | % | ||
Financials | 10.1 | % | ||
Consumer Discretionary | 8.5 | % | ||
Consumer Staples | 8.2 | % | ||
Real Estate | 4.2 | % | ||
Materials | 2.7 | % | ||
Utilities | 2.6 | % | ||
Communication Services | 0.5 | % | ||
Energy | 0.1 | % | ||
Other3 | 0.3 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. | |
2. | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. | |
3. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive 1000 Growth ETF
Sector1 | %
Net Assets |
|||
Information Technology | 36.3 | %2 | ||
Health Care | 16.1 | % | ||
Consumer Discretionary | 12.5 | % | ||
Communication Services | 8.7 | % | ||
Industrials | 8.2 | % | ||
Financials | 5.9 | % | ||
Consumer Staples | 5.7 | % | ||
Real Estate | 3.2 | % | ||
Materials | 1.5 | % | ||
Utilities | 1.0 | % | ||
Energy | 0.6 | % | ||
Other3 | 0.3 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | For purposes of the Fund’s compliance with its concentration limits, the Fund uses various sub-classifications and none of the Fund’s holdings in the sub-classifications exceed 25% of the Fund’s total assets. |
3. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
3
STRIVE ETFs
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive 1000 Value ETF
Sector1 | %
Net Assets |
|||
Financials | 22.2 | % | ||
Energy | 13.0 | % | ||
Health Care | 12.0 | % | ||
Industrials | 10.9 | % | ||
Consumer Discretionary | 7.8 | % | ||
Consumer Staples | 7.5 | % | ||
Information Technology | 7.2 | % | ||
Utilities | 5.9 | % | ||
Communication Services | 5.5 | % | ||
Materials | 4.1 | % | ||
Real Estate | 3.5 | % | ||
Other2 | 0.4 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. | |
2. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
Tabular Presentation of Schedule of Investments
As of January 31, 2023 (Unaudited)
Strive Small-Cap ETF
Sector1 | %
Net Assets |
|||
Industrials | 17.8 | % | ||
Information Technology | 15.1 | % | ||
Financials | 14.7 | % | ||
Consumer Discretionary | 12.9 | % | ||
Health Care | 12.7 | % | ||
Real Estate | 7.2 | % | ||
Energy | 5.7 | % | ||
Materials | 5.0 | % | ||
Utilities | 3.6 | % | ||
Consumer Staples | 3.3 | % | ||
Communication Services | 1.6 | % | ||
Other2 | 0.4 | % | ||
Total | 100.0 | % |
1. | Sector designations may be different than the sector designations presented in other Fund materials. The sector designations may represent the investment adviser’s internal sector classifications. |
2. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
4
Strive U.S. Energy ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 99.7% | |||||||
Aerospace & Defense - 0.3% | |||||||
18,128 | BWX Technologies, Inc. | $ | 1,103,270 | ||||
Construction & Engineering - 0.3% | |||||||
40,250 | MDU Resources Group, Inc. | 1,244,127 | |||||
Electric Utilities - 2.3% | |||||||
197,039 | Exelon Corp. | 8,313,075 | |||||
10,010 | IDACORP, Inc. | 1,059,158 | |||||
9,372,233 | |||||||
Electrical Components & Equipment - 0.3% | |||||||
41,056 | Sunrun, Inc. (a) | 1,078,952 | |||||
Gas Utilities - 1.3% | |||||||
27,703 | Atmos Energy Corp. | 3,256,211 | |||||
17,969 | National Fuel Gas Co. | 1,043,280 | |||||
12,836 | Southwest Gas Holdings, Inc. | 859,113 | |||||
5,158,604 | |||||||
Independent Power Producers & Energy Traders - 0.9% | |||||||
130,702 | AES Corp. | 3,582,542 | |||||
Integrated Oil & Gas - 42.0% | |||||||
370,088 | Chevron Corp. | 64,402,714 | |||||
801,122 | Exxon Mobil Corp. | 92,938,163 | |||||
186,612 | Occidental Petroleum Corp. | 12,090,591 | |||||
169,431,468 | |||||||
Multi-Utilities - 0.5% | |||||||
80,760 | NiSource, Inc. | 2,241,090 | |||||
Oil & Gas Equipment & Services - 7.8% | |||||||
202,045 | Baker Hughes Co. | 6,412,908 | |||||
167,846 | Halliburton Co. | 6,918,612 | |||||
77,942 | NOV, Inc. | 1,904,902 | |||||
283,164 | Schlumberger Ltd. ADR (b) | 16,134,685 | |||||
31,371,107 | |||||||
Oil & Gas Exploration & Production - 26.2% | |||||||
53,726 | Antero Resources Corp. (a) | 1,549,458 | |||||
65,110 | APA Corp. | 2,886,326 | |||||
22,951 | Chesapeake Energy Corp. | 1,990,311 | |||||
7,585 | Chord Energy Corp. | 1,087,158 | |||||
14,307 | Civitas Resources, Inc. | 952,131 | |||||
245,097 | ConocoPhillips | 29,869,971 | |||||
154,955 | Coterra Energy, Inc. | 3,878,524 | |||||
130,311 | Devon Energy Corp. | 8,240,868 |
The accompanying notes are an integral part of these financial statements.
5
Strive U.S. Energy ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
35,464 | Diamondback Energy, Inc. | $ | 5,182,000 | ||||
117,141 | EOG Resources, Inc. | 15,491,897 | |||||
66,980 | EQT Corp. | 2,188,237 | |||||
56,022 | Hess Corp. | 8,412,264 | |||||
135,174 | Marathon Oil Corp. | 3,713,230 | |||||
22,005 | Matador Resources Co. | 1,455,851 | |||||
29,460 | Murphy Oil Corp. | 1,284,751 | |||||
50,611 | Ovintiv, Inc. | 2,491,580 | |||||
18,992 | PDC Energy, Inc. | 1,286,328 | |||||
45,423 | Pioneer Natural Resources Co. | 10,463,188 | |||||
50,695 | Range Resources Corp. | 1,268,389 | |||||
23,657 | SM Energy Co. | 777,606 | |||||
221,589 | Southwestern Energy Co. (a) | 1,223,171 | |||||
105,693,239 | |||||||
Oil & Gas Refining & Marketing - 8.7% | |||||||
30,955 | HF Sinclair Corp. | 1,761,339 | |||||
99,724 | Marathon Petroleum Corp. | 12,816,528 | |||||
96,208 | Phillips 66 | 9,646,776 | |||||
78,759 | Valero Energy Corp. | 11,028,623 | |||||
35,253,266 | |||||||
Oil & Gas Storage & Transportation - 8.4% | |||||||
49,663 | Cheniere Energy, Inc. | 7,588,010 | |||||
18,826 | DT Midstream, Inc. | 1,029,029 | |||||
8,532 | Hess Midstream LP - Class A | 263,468 | |||||
395,335 | Kinder Morgan, Inc. | 7,234,630 | |||||
9,626 | New Fortress Energy, Inc. | 373,393 | |||||
89,103 | ONEOK, Inc. | 6,101,773 | |||||
44,417 | Targa Resources Corp. | 3,332,163 | |||||
243,758 | Williams Cos., Inc. | 7,858,758 | |||||
33,781,224 | |||||||
Renewable Electricity - 0.7% | |||||||
25,471 | Brookfield Renewable Corp. - Class A ADR (b) | 802,846 | |||||
6,892 | Clearway Energy, Inc. - Class A | 220,889 | |||||
16,262 | Clearway Energy, Inc. - Class C | 549,493 | |||||
16,666 | NextEra Energy Partners LP | 1,221,618 | |||||
2,794,846 | |||||||
TOTAL COMMON STOCKS (Cost $366,636,750) | 402,105,968 | ||||||
MONEY MARKET FUNDS - 0.3% | |||||||
1,227,547 | First American Government Obligations Fund - Class X, 4.14% (c) | 1,227,547 | |||||
TOTAL MONEY MARKET FUNDS (Cost $1,227,547) | 1,227,547 | ||||||
TOTAL INVESTMENTS (Cost $367,864,297) - 100.0% | $ | 403,333,515 | |||||
Other Assets in Excess of Liabilities - 0.0% (d) | 119,446 | ||||||
TOTAL NET ASSETS - 100.0% | $ | 403,452,961 |
The accompanying notes are an integral part of these financial statements.
6
Strive U.S. Energy ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | Rate shown is the 7-day effective yield. |
(d) | Represents less than 0.05% of net assets. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
7
Strive 500 ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 96.9% | |||||||
Advertising - 0.1% | |||||||
648 | Omnicom Group, Inc. | $ | 55,722 | ||||
1,408 | Trade Desk, Inc. - Class A (a) | 71,386 | |||||
127,108 | |||||||
Aerospace & Defense - 1.8% | |||||||
1,936 | Boeing Co. (a) | 412,368 | |||||
792 | General Dynamics Corp. | 184,584 | |||||
231 | HEICO Corp. - Class A | 30,880 | |||||
126 | HEICO Corp. | 21,540 | |||||
616 | L3Harris Technologies, Inc. | 132,329 | |||||
856 | Lockheed Martin Corp. | 396,551 | |||||
449 | Northrop Grumman Corp. | 201,170 | |||||
4,840 | Raytheon Technologies Corp. | 483,274 | |||||
176 | TransDigm Group, Inc. | 126,324 | |||||
1,989,020 | |||||||
Agricultural & Farm Machinery - 0.3% | |||||||
908 | Deere & Co. | 383,939 | |||||
Agricultural Products - 0.1% | |||||||
1,848 | Archer-Daniels-Midland Co. | 153,107 | |||||
Air Freight & Logistics - 0.6% | |||||||
528 | Expeditors International of Washington, Inc. | 57,103 | |||||
792 | FedEx Corp. | 153,537 | |||||
2,376 | United Parcel Service, Inc. - Class B | 440,106 | |||||
650,746 | |||||||
Airlines - 0.2% | |||||||
2,112 | Delta Air Lines, Inc. (a) | 82,579 | |||||
1,936 | Southwest Airlines Co. | 69,251 | |||||
1,056 | United Airlines Holdings, Inc. (a) | 51,702 | |||||
203,532 | |||||||
Apparel Retail - 0.4% | |||||||
1,144 | Ross Stores, Inc. | 135,209 | |||||
3,608 | TJX Cos., Inc. | 295,351 | |||||
430,560 | |||||||
Apparel, Accessories & Luxury Goods - 0.1% | |||||||
380 | Lululemon Athletica, Inc. (a) | 116,614 | |||||
1,144 | VF Corp. | 35,395 | |||||
152,009 | |||||||
Application Software - 2.5% | |||||||
1,507 | Adobe, Inc. (a) | 558,102 | |||||
277 | Ansys, Inc. (a) | 73,782 | |||||
92 | Aspen Technology, Inc. (a) | 18,285 | |||||
459 | Atlassian Corp. - Class A (a) | 74,184 | |||||
704 | Autodesk, Inc. (a) | 151,473 |
The accompanying notes are an integral part of these financial statements.
8
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
704 | Bentley Systems, Inc. - Class B | $ | 27,491 | ||||
306 | Bill.com Holdings, Inc. (a) | 35,380 | |||||
880 | Cadence Design Systems, Inc. (a) | 160,890 | |||||
900 | Datadog, Inc. - Class A (a) | 67,329 | |||||
639 | DocuSign, Inc. (a) | 38,749 | |||||
134 | HubSpot, Inc. (a) | 46,499 | |||||
889 | Intuit, Inc. | 375,754 | |||||
5,632 | Palantir Technologies, Inc. - Class A (a) | 43,817 | |||||
147 | Paycom Software, Inc. (a) | 47,619 | |||||
352 | Roper Technologies, Inc. | 150,216 | |||||
3,168 | Salesforce, Inc. (a) | 532,129 | |||||
528 | Splunk, Inc. (a) | 50,567 | |||||
478 | Synopsys, Inc. (a) | 169,092 | |||||
126 | Tyler Technologies, Inc. (a) | 40,669 | |||||
704 | Unity Software, Inc. (a) | 25,006 | |||||
640 | Workday, Inc. - Class A (a) | 116,115 | |||||
704 | Zoom Video Communications, Inc. - Class A (a) | 52,800 | |||||
2,855,948 | |||||||
Asset Management & Custody Banks - 1.1% | |||||||
352 | Ameriprise Financial, Inc. | 123,242 | |||||
478 | Ares Management Corp. - Class A | 39,669 | |||||
2,376 | Bank of New York Mellon Corp. | 120,154 | |||||
458 | BlackRock, Inc. | 347,718 | |||||
2,288 | Blackstone, Inc. | 219,556 | |||||
1,408 | Blue Owl Capital, Inc. | 17,713 | |||||
968 | Franklin Resources, Inc. | 30,202 | |||||
2,382 | KKR & Co., Inc. | 132,939 | |||||
642 | Northern Trust Corp. | 62,255 | |||||
1,144 | State Street Corp. | 104,482 | |||||
704 | T. Rowe Price Group, Inc. | 81,995 | |||||
1,279,925 | |||||||
Auto Parts & Equipment - 0.1% | |||||||
880 | Aptiv PLC ADR (a)(b) | 99,519 | |||||
Automobile Manufacturers - 1.7% | |||||||
12,848 | Ford Motor Co. | 173,576 | |||||
4,535 | General Motors Co. | 178,316 | |||||
1,848 | Lucid Group, Inc. (a)(c) | 21,603 | |||||
1,680 | Rivian Automotive, Inc. - Class A (a) | 32,592 | |||||
8,595 | Tesla, Inc. (a) | 1,488,826 | |||||
1,894,913 | |||||||
Automotive Retail - 0.3% | |||||||
52 | AutoZone, Inc. (a) | 126,820 | |||||
528 | CarMax, Inc. (a) | 37,198 | |||||
201 | O’Reilly Automotive, Inc. (a) | 159,262 | |||||
323,280 |
The accompanying notes are an integral part of these financial statements.
9
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Biotechnology - 2.5% | |||||||
5,781 | AbbVie, Inc. | $ | 854,143 | ||||
375 | Alnylam Pharmaceuticals, Inc. (a) | 84,900 | |||||
1,760 | Amgen, Inc. | 444,224 | |||||
458 | Biogen, Inc. (a) | 133,232 | |||||
616 | BioMarin Pharmaceutical, Inc. (a) | 71,056 | |||||
4,102 | Gilead Sciences, Inc. | 344,322 | |||||
733 | Horizon Therapeutics PLC ADR (a)(b) | 80,425 | |||||
616 | Incyte Corp. (a) | 52,446 | |||||
1,144 | Moderna, Inc. (a) | 201,413 | |||||
323 | Regeneron Pharmaceuticals, Inc. (a) | 244,986 | |||||
440 | Seagen, Inc. (a) | 61,371 | |||||
818 | Vertex Pharmaceuticals, Inc. (a) | 264,296 | |||||
2,836,814 | |||||||
Broadcasting - 0.1% | |||||||
986 | Fox Corp. - Class A | 33,465 | |||||
440 | Fox Corp. - Class B | 13,948 | |||||
25 | Paramount Global - Class A | 666 | |||||
1,883 | Paramount Global - Class B | 43,610 | |||||
91,689 | |||||||
Building Products - 0.4% | |||||||
148 | Carlisle Cos., Inc. | 37,127 | |||||
2,728 | Carrier Global Corp. | 124,206 | |||||
2,288 | Johnson Controls International PLC ADR (b) | 159,176 | |||||
737 | Trane Technologies PLC ADR (b) | 132,011 | |||||
452,520 | |||||||
Cable & Satellite - 0.7% | |||||||
321 | Charter Communications, Inc. - Class A (a) | 123,364 | |||||
14,287 | Comcast Corp. - Class A | 562,193 | |||||
46 | Liberty Broadband Corp. - Class A (a) | 4,123 | |||||
388 | Liberty Broadband Corp. - Class C (a) | 34,835 | |||||
2,213 | Sirius XM Holdings, Inc. | 12,813 | |||||
737,328 | |||||||
Casinos & Gaming - 0.1% | |||||||
1,056 | Las Vegas Sands Corp. (a) | 62,304 | |||||
1,002 | MGM Resorts International | 41,493 | |||||
103,797 | |||||||
Commodity Chemicals - 0.2% | |||||||
2,376 | Dow, Inc. | 141,016 | |||||
820 | LyondellBasell Industries N.V. - Class A ADR (b) | 79,286 | |||||
220,302 | |||||||
Communications Equipment - 0.7% | |||||||
792 | Arista Networks, Inc. (a) | 99,808 | |||||
12,320 | Cisco Systems, Inc. | 599,614 | |||||
528 | Motorola Solutions, Inc. | 135,701 | |||||
12 | Ubiquiti, Inc. | 3,506 | |||||
838,629 |
The accompanying notes are an integral part of these financial statements.
10
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Computer & Electronics Retail - 0.1% | |||||||
643 | Best Buy Co., Inc. | $ | 57,047 | ||||
Construction Machinery & Heavy Trucks - 0.6% | |||||||
1,705 | Caterpillar, Inc. | 430,154 | |||||
440 | Cummins, Inc. | 109,798 | |||||
1,056 | PACCAR, Inc. | 115,431 | |||||
560 | Westinghouse Air Brake Technologies Corp. | 58,134 | |||||
713,517 | |||||||
Construction Materials - 0.1% | |||||||
192 | Martin Marietta Materials, Inc. | 69,051 | |||||
440 | Vulcan Materials Co. | 80,665 | |||||
149,716 | |||||||
Construction & Engineering - 0.1% | |||||||
455 | Quanta Services, Inc. | 69,246 | |||||
Consumer Electronics - 0.0% (d) | |||||||
528 | Garmin Ltd. ADR (b) | 52,209 | |||||
Consumer Finance - 0.5% | |||||||
1,785 | American Express Co. | 312,250 | |||||
1,232 | Capital One Financial Corp. | 146,608 | |||||
880 | Discover Financial Services | 102,722 | |||||
1,547 | Synchrony Financial | 56,821 | |||||
618,401 | |||||||
Copper - 0.2% | |||||||
4,664 | Freeport-McMoRan, Inc. | 208,108 | |||||
274 | Southern Copper Corp. | 20,608 | |||||
228,716 | |||||||
Data Processing & Outsourced Services - 3.3% | |||||||
1,340 | Automatic Data Processing, Inc. | 302,585 | |||||
1,672 | Block, Inc. (a) | 136,636 | |||||
473 | Broadridge Financial Solutions, Inc. | 71,120 | |||||
1,936 | Fidelity National Information Services, Inc. | 145,277 | |||||
1,936 | Fiserv, Inc. (a) | 206,532 | |||||
228 | FleetCor Technologies, Inc. (a) | 47,609 | |||||
880 | Global Payments, Inc. | 99,194 | |||||
2,777 | Mastercard, Inc. - Class A | 1,029,156 | |||||
1,056 | Paychex, Inc. | 122,348 | |||||
3,784 | PayPal Holdings, Inc. (a) | 308,358 | |||||
704 | SS&C Technologies Holdings, Inc. | 42,486 | |||||
5,336 | Visa, Inc. - Class A | 1,228,401 | |||||
3,739,702 | |||||||
Distillers & Vintners - 0.2% | |||||||
142 | Brown-Forman Corp. - Class A | 9,443 | |||||
968 | Brown-Forman Corp. - Class B | 64,449 | |||||
459 | Constellation Brands, Inc. - Class A | 106,268 | |||||
180,160 |
The accompanying notes are an integral part of these financial statements.
11
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Distributors - 0.1% | |||||||
440 | Genuine Parts Co. | $ | 73,841 | ||||
116 | Pool Corp. | 44,731 | |||||
118,572 | |||||||
Diversified Banks - 2.9% | |||||||
23,081 | Bank of America Corp. | 818,914 | |||||
6,336 | Citigroup, Inc. | 330,866 | |||||
9,540 | JPMorgan Chase & Co. | 1,335,218 | |||||
4,312 | U.S. Bancorp | 214,738 | |||||
12,442 | Wells Fargo & Co. | 583,157 | |||||
3,282,893 | |||||||
Diversified Support Services - 0.2% | |||||||
274 | Cintas Corp. | 121,585 | |||||
1,408 | Copart, Inc. (a) | 93,787 | |||||
215,372 | |||||||
Drug Retail - 0.1% | |||||||
2,288 | Walgreens Boots Alliance, Inc. | 84,336 | |||||
Electric Utilities - 1.8% | |||||||
792 | Alliant Energy Corp. | 42,792 | |||||
1,672 | American Electric Power Co., Inc. | 157,101 | |||||
222 | Avangrid, Inc. | 9,362 | |||||
1,056 | Constellation Energy Corp. | 90,140 | |||||
2,552 | Duke Energy Corp. | 261,452 | |||||
1,232 | Edison International | 84,885 | |||||
647 | Entergy Corp. | 70,057 | |||||
728 | Evergy, Inc. | 45,609 | |||||
1,144 | Eversource Energy | 94,186 | |||||
3,168 | Exelon Corp. | 133,658 | |||||
1,760 | FirstEnergy Corp. | 72,072 | |||||
6,424 | NextEra Energy, Inc. | 479,423 | |||||
5,280 | PG&E Corp. (a) | 83,952 | |||||
2,376 | PPL Corp. | 70,330 | |||||
3,432 | Southern Co. | 232,278 | |||||
1,760 | Xcel Energy, Inc. | 121,035 | |||||
2,048,332 | |||||||
Electrical Components & Equipment - 0.6% | |||||||
733 | AMETEK, Inc. | 106,226 | |||||
1,320 | Eaton Corp. PLC ADR (b) | 214,117 | |||||
1,936 | Emerson Electric Co. | 174,666 | |||||
198 | Generac Holdings, Inc. (a) | 23,879 | |||||
367 | Rockwell Automation, Inc. | 103,505 | |||||
622,393 | |||||||
Electronic Components - 0.2% | |||||||
1,936 | Amphenol Corp. - Class A | 154,435 | |||||
2,464 | Corning, Inc. | 85,279 | |||||
239,714 |
The accompanying notes are an integral part of these financial statements.
12
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Electronic Equipment & Instruments - 0.2% | |||||||
563 | Keysight Technologies, Inc. (a) | $ | 100,974 | ||||
136 | Teledyne Technologies, Inc. (a) | 57,699 | |||||
792 | Trimble, Inc. (a) | 45,984 | |||||
176 | Zebra Technologies Corp. - Class A (a) | 55,648 | |||||
260,305 | |||||||
Electronic Manufacturing Services - 0.1% | |||||||
1,056 | TE Connectivity Ltd. ADR (b) | 134,270 | |||||
Environmental & Facilities Services - 0.3% | |||||||
704 | Republic Services, Inc. | 87,873 | |||||
792 | Rollins, Inc. | 28,829 | |||||
1,351 | Waste Management, Inc. | 209,040 | |||||
325,742 | |||||||
Fertilizers & Agricultural Chemicals - 0.2% | |||||||
639 | C.F. Industries Holdings, Inc. | 54,123 | |||||
2,376 | Corteva, Inc. | 153,133 | |||||
1,144 | Mosaic Co. | 56,674 | |||||
263,930 | |||||||
Financial Exchanges & Data - 1.1% | |||||||
1,170 | CME Group, Inc. | 206,692 | |||||
459 | Coinbase Global, Inc. - Class A (a)(c) | 26,842 | |||||
116 | FactSet Research Systems, Inc. | 49,061 | |||||
1,848 | Intercontinental Exchange, Inc. | 198,752 | |||||
528 | Moody’s Corp. | 170,412 | |||||
264 | MSCI, Inc. | 140,332 | |||||
1,144 | Nasdaq, Inc. | 68,857 | |||||
1,079 | S&P Global, Inc. | 404,560 | |||||
352 | Tradeweb Markets, Inc. - Class A | 26,238 | |||||
1,291,746 | |||||||
Food Distributors - 0.1% | |||||||
1,672 | Sysco Corp. | 129,513 | |||||
Food Retail - 0.1% | |||||||
528 | Albertsons Cos., Inc. - Class A | 11,194 | |||||
2,112 | Kroger Co. | 94,259 | |||||
105,453 | |||||||
Footwear - 0.5% | |||||||
4,098 | Nike, Inc. - Class B | 521,798 | |||||
Gas Utilities - 0.0% (d) | |||||||
440 | Atmos Energy Corp. | 51,718 | |||||
General Merchandise Stores - 0.5% | |||||||
723 | Dollar General Corp. | 168,893 | |||||
704 | Dollar Tree, Inc. (a) | 105,727 | |||||
1,496 | Target Corp. | 257,521 | |||||
532,141 |
The accompanying notes are an integral part of these financial statements.
13
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Gold - 0.1% | |||||||
2,552 | Newmont Corp. | $ | 135,077 | ||||
Health Care Distributors - 0.3% | |||||||
528 | AmerisourceBergen Corp. | 89,211 | |||||
832 | Cardinal Health, Inc. | 64,272 | |||||
451 | McKesson Corp. | 170,785 | |||||
324,268 | |||||||
Health Care Equipment - 2.6% | |||||||
5,720 | Abbott Laboratories | 632,346 | |||||
1,672 | Baxter International, Inc. | 76,394 | |||||
914 | Becton Dickinson and Co. | 230,529 | |||||
4,664 | Boston Scientific Corp. (a) | 215,710 | |||||
1,271 | Dexcom, Inc. (a) | 136,111 | |||||
2,024 | Edwards Lifesciences Corp. (a) | 155,241 | |||||
1,170 | GE HealthCare Technologies, Inc. (a) | 81,338 | |||||
792 | Hologic, Inc. (a) | 64,445 | |||||
264 | IDEXX Laboratories, Inc. (a) | 126,852 | |||||
214 | Insulet Corp. (a) | 61,486 | |||||
1,165 | Intuitive Surgical, Inc. (a) | 286,229 | |||||
4,312 | Medtronic PLC ADR (b) | 360,871 | |||||
460 | ResMed, Inc. | 105,050 | |||||
305 | Steris PLC ADR (b) | 62,986 | |||||
1,074 | Stryker Corp. | 272,592 | |||||
138 | Teleflex, Inc. | 33,592 | |||||
704 | Zimmer Biomet Holdings, Inc. | 89,647 | |||||
2,991,419 | |||||||
Health Care Facilities - 0.2% | |||||||
704 | HCA Healthcare, Inc. | 179,569 | |||||
Health Care Services - 0.7% | |||||||
987 | Cigna Corp. | 312,553 | |||||
4,312 | CVS Health Corp. | 380,405 | |||||
282 | Laboratory Corp. of America Holdings | 71,098 | |||||
370 | Quest Diagnostics, Inc. | 54,938 | |||||
818,994 | |||||||
Health Care Supplies - 0.1% | |||||||
229 | Align Technology, Inc. (a) | 61,768 | |||||
143 | Cooper Cos., Inc. | 49,897 | |||||
111,665 | |||||||
Health Care Technology - 0.1% | |||||||
440 | Veeva Systems, Inc. - Class A (a) | 75,042 | |||||
Home Improvement Retail - 1.3% | |||||||
3,367 | Home Depot, Inc. | 1,091,480 | |||||
2,024 | Lowe’s Cos., Inc. | 421,498 | |||||
1,512,978 |
The accompanying notes are an integral part of these financial statements.
14
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Homebuilding - 0.2% | |||||||
1,056 | D.R. Horton, Inc. | $ | 104,217 | ||||
792 | Lennar Corp. - Class A | 81,101 | |||||
39 | Lennar Corp. - Class B | 3,368 | |||||
8 | NVR, Inc. (a) | 42,160 | |||||
230,846 | |||||||
Hotels, Resorts & Cruise Lines - 0.7% | |||||||
1,174 | Airbnb, Inc. - Class A (a) | 130,443 | |||||
122 | Booking Holdings, Inc. (a) | 296,960 | |||||
3,124 | Carnival Corp. ADR (a)(b) | 33,802 | |||||
478 | Expedia Group, Inc. (a) | 54,635 | |||||
880 | Hilton Worldwide Holdings, Inc. | 127,679 | |||||
968 | Marriott International, Inc. - Class A | 168,606 | |||||
812,125 | |||||||
Household Products - 1.4% | |||||||
792 | Church & Dwight Co., Inc. | 64,041 | |||||
384 | Clorox Co. | 55,561 | |||||
2,728 | Colgate-Palmolive Co. | 203,318 | |||||
1,096 | Kimberly-Clark Corp. | 142,491 | |||||
7,832 | Procter & Gamble Co. | 1,115,120 | |||||
1,580,531 | |||||||
Hypermarkets & Super Centers - 1.2% | |||||||
1,440 | Costco Wholesale Corp. | 736,042 | |||||
4,589 | Walmart, Inc. | 660,219 | |||||
1,396,261 | |||||||
Independent Power Producers & Energy Traders - 0.1% | |||||||
2,112 | AES Corp. | 57,890 | |||||
Industrial Conglomerates - 0.8% | |||||||
1,848 | 3M Co. | 212,668 | |||||
3,520 | General Electric Co. | 283,290 | |||||
2,200 | Honeywell International, Inc. | 458,656 | |||||
954,614 | |||||||
Industrial Gases - 0.7% | |||||||
724 | Air Products and Chemicals, Inc. | 232,049 | |||||
1,614 | Linde PLC ADR (b) | 534,137 | |||||
766,186 | |||||||
Industrial Machinery - 0.7% | |||||||
458 | Dover Corp. | 69,538 | |||||
1,144 | Fortive Corp. | 77,826 | |||||
235 | IDEX Corp. | 56,325 | |||||
880 | Illinois Tool Works, Inc. | 207,715 | |||||
1,320 | Ingersoll Rand, Inc. | 73,920 | |||||
1,408 | Otis Worldwide Corp. | 115,780 | |||||
395 | Parker-Hannifin Corp. | 128,770 | |||||
468 | Stanley Black & Decker, Inc. | 41,797 | |||||
616 | Xylem, Inc. | 64,070 | |||||
835,741 |
The accompanying notes are an integral part of these financial statements.
15
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Insurance Brokers - 0.7% | |||||||
644 | Aon PLC - Class A ADR (b) | $ | 205,230 | ||||
704 | Arthur J. Gallagher & Co. | 137,787 | |||||
792 | Brown & Brown, Inc. | 46,380 | |||||
1,612 | Marsh & McLennan Cos., Inc. | 281,955 | |||||
352 | Willis Towers Watson PLC ADR (b) | 89,475 | |||||
760,827 | |||||||
Integrated Oil & Gas - 2.5% | |||||||
6,290 | Chevron Corp. | 1,094,586 | |||||
13,728 | Exxon Mobil Corp. | 1,592,585 | |||||
3,080 | Occidental Petroleum Corp. | 199,553 | |||||
2,886,724 | |||||||
Integrated Telecommunication Services - 0.9% | |||||||
23,232 | AT&T, Inc. | 473,236 | |||||
13,728 | Verizon Communications, Inc. | 570,673 | |||||
1,043,909 | |||||||
Interactive Home Entertainment - 0.3% | |||||||
2,288 | Activision Blizzard, Inc. | 175,192 | |||||
880 | Electronic Arts, Inc. | 113,238 | |||||
1,080 | Roblox Corp. - Class A (a) | 40,187 | |||||
528 | Take-Two Interactive Software, Inc. (a) | 59,785 | |||||
388,402 | |||||||
Interactive Media & Services - 4.4% | |||||||
19,647 | Alphabet, Inc. - Class A (a) | 1,941,909 | |||||
17,633 | Alphabet, Inc. - Class C (a) | 1,761,008 | |||||
968 | Match Group, Inc. (a) | 52,388 | |||||
7,480 | Meta Platforms, Inc. - Class A (a) | 1,114,296 | |||||
1,848 | Pinterest, Inc. - Class A (a) | 48,584 | |||||
3,344 | Snap, Inc. - Class A (a) | 38,657 | |||||
933 | ZoomInfo Technologies, Inc. (a) | 26,339 | |||||
4,983,181 | |||||||
Internet & Direct Marketing Retail - 3.0% | |||||||
29,174 | Amazon.com, Inc. (a) | 3,008,715 | |||||
286 | Chewy, Inc. - Class A (a) | 12,887 | |||||
2,728 | Coupang, Inc. (a) | 46,076 | |||||
819 | DoorDash, Inc. - Class A (a) | 47,436 | |||||
1,848 | eBay, Inc. | 91,476 | |||||
393 | Etsy, Inc. (a) | 54,069 | |||||
141 | MercadoLibre, Inc. (a) | 166,618 | |||||
3,427,277 | |||||||
Internet Services & Infrastructure - 0.4% | |||||||
528 | Akamai Technologies, Inc. (a) | 46,966 | |||||
901 | Cloudflare, Inc. - Class A (a) | 47,672 | |||||
211 | MongoDB, Inc. (a) | 45,198 | |||||
477 | Okta, Inc. (a) | 35,112 | |||||
880 | Snowflake, Inc. - Class A (a) | 137,667 | |||||
564 | Twilio, Inc. - Class A (a) | 33,750 |
The accompanying notes are an integral part of these financial statements.
16
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
292 | VeriSign, Inc. (a) | $ | 63,671 | ||||
410,036 | |||||||
Investment Banking & Brokerage - 1.2% | |||||||
5,018 | Charles Schwab Corp. | 388,494 | |||||
1,107 | Goldman Sachs Group, Inc. | 404,952 | |||||
300 | Interactive Brokers Group, Inc. - Class A | 23,982 | |||||
264 | LPL Financial Holdings, Inc. | 62,600 | |||||
4,324 | Morgan Stanley | 420,855 | |||||
616 | Raymond James Financial, Inc. | 69,466 | |||||
1,370,349 | |||||||
IT Consulting & Other Services - 1.1% | |||||||
2,171 | Accenture PLC - Class A ADR (b) | 605,818 | |||||
1,672 | Cognizant Technology Solutions Corp. - Class A | 111,606 | |||||
176 | EPAM Systems, Inc. (a) | 58,546 | |||||
264 | Gartner, Inc. (a) | 89,269 | |||||
2,929 | International Business Machines Corp. | 394,624 | |||||
1,259,863 | |||||||
Life & Health Insurance - 0.4% | |||||||
1,936 | Aflac, Inc. | 142,296 | |||||
2,024 | MetLife, Inc. | 147,792 | |||||
792 | Principal Financial Group, Inc. | 73,300 | |||||
1,232 | Prudential Financial, Inc. | 129,286 | |||||
492,674 | |||||||
Life Sciences Tools & Services - 1.8% | |||||||
968 | Agilent Technologies, Inc. | 147,213 | |||||
2,024 | Avantor, Inc. (a) | 48,374 | |||||
57 | Bio-Rad Laboratories, Inc. - Class A (a) | 26,645 | |||||
146 | Charles River Laboratories International, Inc. (a) | 35,515 | |||||
2,171 | Danaher Corp. | 573,969 | |||||
528 | Illumina, Inc. (a) | 113,098 | |||||
616 | IQVIA Holdings, Inc. (a) | 141,317 | |||||
60 | Mettler-Toledo International, Inc. (a) | 91,975 | |||||
392 | PerkinElmer, Inc. | 53,912 | |||||
1,273 | Thermo Fisher Scientific, Inc. | 726,030 | |||||
190 | Waters Corp. (a) | 62,430 | |||||
230 | West Pharmaceutical Services, Inc. | 61,088 | |||||
2,081,566 | |||||||
Managed Health Care - 2.0% | |||||||
1,848 | Centene Corp. (a) | 140,892 | |||||
792 | Elevance Health, Inc. | 395,992 | |||||
399 | Humana, Inc. | 204,168 | |||||
184 | Molina Healthcare, Inc. (a) | 57,377 | |||||
3,048 | UnitedHealth Group, Inc. | 1,521,531 | |||||
2,319,960 | |||||||
Metal & Glass Containers - 0.1% | |||||||
1,056 | Ball Corp. | 61,501 |
The accompanying notes are an integral part of these financial statements.
17
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Movies & Entertainment - 1.2% | |||||||
528 | Live Nation Entertainment, Inc. (a) | $ | 42,499 | ||||
1,421 | Netflix, Inc. (a) | 502,835 | |||||
383 | Spotify Technology S.A. ADR (a)(b) | 43,172 | |||||
5,984 | Walt Disney Co. (a) | 649,204 | |||||
7,216 | Warner Bros Discovery, Inc. (a) | 106,941 | |||||
374 | Warner Music Group Corp. - Class A | 13,632 | |||||
1,358,283 | |||||||
Multi-line Insurance - 0.2% | |||||||
2,552 | American International Group, Inc. | 161,337 | |||||
1,056 | Hartford Financial Services Group, Inc. | 81,956 | |||||
243,293 | |||||||
Multi-Sector Holdings - 1.2% | |||||||
4,251 | Berkshire Hathaway, Inc. - Class B (a) | 1,324,272 | |||||
Multi-Utilities - 0.8% | |||||||
880 | Ameren Corp. | 76,446 | |||||
2,024 | CenterPoint Energy, Inc. | 60,963 | |||||
968 | CMS Energy Corp. | 61,168 | |||||
1,144 | Consolidated Edison, Inc. | 109,035 | |||||
2,734 | Dominion Energy, Inc. | 173,992 | |||||
616 | DTE Energy Co. | 71,684 | |||||
1,584 | Public Service Enterprise Group, Inc. | 98,097 | |||||
1,056 | Sempra Energy | 169,308 | |||||
1,056 | WEC Energy Group, Inc. | 99,253 | |||||
919,946 | |||||||
Oil & Gas Equipment & Services - 0.4% | |||||||
3,168 | Baker Hughes Co. | 100,552 | |||||
2,728 | Halliburton Co. | 112,448 | |||||
4,576 | Schlumberger Ltd. ADR (b) | 260,740 | |||||
473,740 | |||||||
Oil & Gas Exploration & Production - 1.3% | |||||||
4,148 | ConocoPhillips | 505,517 | |||||
2,552 | Coterra Energy, Inc. | 63,877 | |||||
2,112 | Devon Energy Corp. | 133,563 | |||||
562 | Diamondback Energy, Inc. | 82,119 | |||||
1,884 | EOG Resources, Inc. | 249,159 | |||||
1,090 | EQT Corp. | 35,610 | |||||
880 | Hess Corp. | 132,141 | |||||
2,288 | Marathon Oil Corp. | 62,851 | |||||
729 | Pioneer Natural Resources Co. | 167,925 | |||||
17 | Texas Pacific Land Corp. | 33,929 | |||||
1,466,691 | |||||||
Oil & Gas Refining & Marketing - 0.5% | |||||||
1,615 | Marathon Petroleum Corp. | 207,560 | |||||
1,584 | Phillips 66 | 158,828 | |||||
1,320 | Valero Energy Corp. | 184,840 | |||||
551,228 |
The accompanying notes are an integral part of these financial statements.
18
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Oil & Gas Storage & Transportation - 0.4% | |||||||
798 | Cheniere Energy, Inc. | $ | 121,926 | ||||
6,512 | Kinder Morgan, Inc. | 119,170 | |||||
1,408 | ONEOK, Inc. | 96,420 | |||||
3,960 | Williams Cos., Inc. | 127,670 | |||||
465,186 | |||||||
Other Diversified Financial Services - 0.1% | |||||||
1,408 | Apollo Global Management, Inc. | 99,658 | |||||
Packaged Foods & Meats - 0.9% | |||||||
639 | Campbell Soup Co. | 33,183 | |||||
1,584 | Conagra Brands, Inc. | 58,909 | |||||
1,936 | General Mills, Inc. | 151,705 | |||||
463 | Hershey Co. | 103,990 | |||||
968 | Hormel Foods Corp. | 43,860 | |||||
306 | J.M. Smucker Co. | 46,757 | |||||
880 | Kellogg Co. | 60,350 | |||||
2,552 | Kraft Heinz Co. | 103,433 | |||||
792 | McCormick & Co., Inc. | 59,495 | |||||
4,488 | Mondelez International, Inc. - Class A | 293,695 | |||||
968 | Tyson Foods, Inc. - Class A | 63,646 | |||||
1,019,023 | |||||||
Paper Packaging - 0.1% | |||||||
4,928 | Amcor PLC ADR (b) | 59,432 | |||||
1,232 | International Paper Co. | 51,522 | |||||
110,954 | |||||||
Personal Products - 0.2% | |||||||
704 | Estee Lauder Cos., Inc. - Class A | 195,064 | |||||
Pharmaceuticals - 4.4% | |||||||
6,952 | Bristol-Myers Squibb Co. | 505,063 | |||||
551 | Catalent, Inc. (a) | 29,506 | |||||
2,766 | Eli Lilly & Co. | 951,919 | |||||
8,624 | Johnson & Johnson | 1,409,334 | |||||
8,289 | Merck & Co., Inc. | 890,321 | |||||
18,304 | Pfizer, Inc. | 808,305 | |||||
1,186 | Royalty Pharma PLC - Class A ADR (b) | 46,479 | |||||
3,960 | Viatris, Inc. | 48,154 | |||||
1,532 | Zoetis, Inc. | 253,531 | |||||
4,942,612 | |||||||
Property & Casualty Insurance - 1.0% | |||||||
880 | Allstate Corp. | 113,054 | |||||
1,144 | Arch Capital Group Ltd. ADR (a)(b) | 73,616 | |||||
1,257 | Chubb Ltd. ADR (b) | 285,955 | |||||
528 | Cincinnati Financial Corp. | 59,743 | |||||
644 | Loews Corp. | 39,593 | |||||
34 | Markel Corp. (a) | 47,905 | |||||
1,936 | Progressive Corp. | 263,974 |
The accompanying notes are an integral part of these financial statements.
19
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
792 | Travelers Cos., Inc. | $ | 151,367 | ||||
641 | W.R. Berkley Corp. | 44,960 | |||||
1,080,167 | |||||||
Railroads - 0.7% | |||||||
7,040 | CSX Corp. | 217,677 | |||||
745 | Norfolk Southern Corp. | 183,128 | |||||
2,024 | Union Pacific Corp. | 413,281 | |||||
814,086 | |||||||
Real Estate Services - 0.1% | |||||||
1,056 | CBRE Group, Inc. - Class A (a) | 90,299 | |||||
Regional Banks - 0.9% | |||||||
1,584 | Citizens Financial Group, Inc. | 68,619 | |||||
2,200 | Fifth Third Bancorp | 79,838 | |||||
616 | First Republic Bank | 86,782 | |||||
4,576 | Huntington Bancshares, Inc. | 69,418 | |||||
2,992 | KeyCorp | 57,416 | |||||
554 | M&T Bank Corp. | 86,424 | |||||
1,320 | PNC Financial Services Group, Inc. | 218,368 | |||||
2,992 | Regions Financial Corp. | 70,432 | |||||
198 | Signature Bank | 25,532 | |||||
189 | SVB Financial Group (a) | 57,161 | |||||
4,312 | Truist Financial Corp. | 212,970 | |||||
1,032,960 | |||||||
Research & Consulting Services - 0.3% | |||||||
1,320 | CoStar Group, Inc. (a) | 102,828 | |||||
384 | Equifax, Inc. | 85,325 | |||||
392 | Jacobs Solutions, Inc. | 48,432 | |||||
616 | TransUnion | 44,198 | |||||
528 | Verisk Analytics, Inc. | 95,985 | |||||
376,768 | |||||||
Restaurants - 1.3% | |||||||
88 | Chipotle Mexican Grill, Inc. (a) | 144,881 | |||||
384 | Darden Restaurants, Inc. | 56,820 | |||||
110 | Domino’s Pizza, Inc. | 38,830 | |||||
2,412 | McDonald’s Corp. | 644,969 | |||||
3,696 | Starbucks Corp. | 403,381 | |||||
1,320 | Yum China Holdings, Inc. | 81,325 | |||||
968 | Yum! Brands, Inc. | 126,334 | |||||
1,496,540 | |||||||
Semiconductor Equipment - 0.8% | |||||||
2,816 | Applied Materials, Inc. | 313,956 | |||||
440 | Enphase Energy, Inc. (a) | 97,407 | |||||
457 | KLA Corp. | 179,363 | |||||
440 | Lam Research Corp. | 220,044 | |||||
176 | SolarEdge Technologies, Inc. (a) | 56,167 | |||||
528 | Teradyne, Inc. | 53,698 | |||||
920,635 |
The accompanying notes are an integral part of these financial statements.
20
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Semiconductors - 4.5% | |||||||
5,280 | Advanced Micro Devices, Inc. (a) | $ | 396,792 | ||||
1,672 | Analog Devices, Inc. | 286,698 | |||||
1,283 | Broadcom, Inc. | 750,568 | |||||
315 | First Solar, Inc. (a) | 55,944 | |||||
218 | GlobalFoundries, Inc. ADR (a)(b)(c) | 12,923 | |||||
13,376 | Intel Corp. | 378,006 | |||||
2,728 | Marvell Technology, Inc. | 117,713 | |||||
1,760 | Microchip Technology, Inc. | 136,611 | |||||
3,608 | Micron Technology, Inc. | 217,562 | |||||
132 | Monolithic Power Systems, Inc. | 56,306 | |||||
7,832 | NVIDIA Corp. | 1,530,138 | |||||
1,408 | ON Semiconductor Corp. (a) | 103,418 | |||||
3,678 | Qualcomm, Inc. | 489,946 | |||||
528 | Skyworks Solutions, Inc. | 57,906 | |||||
2,992 | Texas Instruments, Inc. | 530,212 | |||||
5,120,743 | |||||||
Soft Drinks - 1.6% | |||||||
12,761 | Coca-Cola Co. | 782,505 | |||||
2,816 | Keurig Dr. Pepper, Inc. | 99,348 | |||||
1,232 | Monster Beverage Corp. (a) | 128,227 | |||||
4,526 | PepsiCo, Inc. | 774,037 | |||||
1,784,117 | |||||||
Specialty Chemicals - 0.7% | |||||||
370 | Albemarle Corp. | 104,136 | |||||
303 | Celanese Corp. | 37,330 | |||||
1,496 | DuPont de Nemours, Inc. | 110,629 | |||||
826 | Ecolab, Inc. | 127,890 | |||||
821 | International Flavors & Fragrances, Inc. | 92,330 | |||||
792 | PPG Industries, Inc. | 103,229 | |||||
792 | Sherwin-Williams Co. | 187,379 | |||||
762,923 | |||||||
Specialty Stores - 0.1% | |||||||
352 | Tractor Supply Co. | 80,252 | |||||
146 | Ulta Beauty, Inc. (a) | 75,038 | |||||
155,290 | |||||||
Steel - 0.1% | |||||||
880 | Nucor Corp. | 148,738 | |||||
Systems Software - 6.3% | |||||||
704 | Crowdstrike Holdings, Inc. - Class A (a) | 74,554 | |||||
2,200 | Fortinet, Inc. (a) | 115,148 | |||||
24,152 | Microsoft Corp. | 5,985,107 | |||||
5,026 | Oracle Corp. | 444,600 | |||||
934 | Palo Alto Networks, Inc. (a) | 148,170 | |||||
654 | ServiceNow, Inc. (a) | 297,655 | |||||
729 | VMware, Inc. - Class A (a) | 89,281 |
The accompanying notes are an integral part of these financial statements.
21
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
274 | Zscaler, Inc. (a) | $ | 34,020 | ||||
7,188,535 | |||||||
Technology Distributors - 0.1% | |||||||
440 | CDW Corp. | 86,253 | |||||
Technology Hardware, Storage & Peripherals - 7.0% | |||||||
52,953 | Apple, Inc. | 7,640,588 | |||||
792 | Dell Technologies, Inc. - Class C | 32,171 | |||||
4,224 | Hewlett Packard Enterprise Co. | 68,133 | |||||
3,344 | HP, Inc. | 97,444 | |||||
704 | NetApp, Inc. | 46,626 | |||||
616 | Seagate Technology Holdings PLC ADR (b) | 41,752 | |||||
1,006 | Western Digital Corp. (a) | 44,214 | |||||
7,970,928 | |||||||
Thrifts & Mortgage Finance - 0.0% (d) | |||||||
352 | Rocket Cos., Inc. - Class A (c) | 3,312 | |||||
Tobacco - 0.7% | |||||||
5,808 | Altria Group, Inc. | 261,592 | |||||
5,079 | Philip Morris International, Inc. | 529,435 | |||||
791,027 | |||||||
Trading Companies & Distributors - 0.2% | |||||||
1,848 | Fastenal Co. | 93,416 | |||||
211 | United Rentals, Inc. (a) | 93,040 | |||||
134 | W.W. Grainger, Inc. | 78,990 | |||||
265,446 | |||||||
Trucking - 0.3% | |||||||
264 | J.B. Hunt Transport Services, Inc. | 49,909 | |||||
308 | Old Dominion Freight Line, Inc. | 102,638 | |||||
6,172 | Uber Technologies, Inc. (a) | 190,900 | |||||
343,447 | |||||||
Water Utilities - 0.1% | |||||||
616 | American Water Works Co., Inc. | 96,398 | |||||
Wireless Telecommunication Services - 0.3% | |||||||
2,061 | T-Mobile U.S., Inc. (a) | 307,728 | |||||
TOTAL COMMON STOCKS (Cost $104,165,256) | 110,137,392 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 2.6% | |||||||
Diversified REITs - 0.1% | |||||||
616 | W.P. Carey, Inc. | 52,686 | |||||
Health Care REITs - 0.2% | |||||||
1,760 | Healthpeak Properties, Inc. | 48,365 | |||||
1,320 | Ventas, Inc. | 68,389 | |||||
1,496 | Welltower, Inc. | 112,260 | |||||
229,014 |
The accompanying notes are an integral part of these financial statements.
22
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Industrial REITs - 0.4% | |||||||
2,997 | Prologis, Inc. | $ | 387,452 | ||||
Office REITs - 0.1% | |||||||
528 | Alexandria Real Estate Equities, Inc. | 84,871 | |||||
459 | Boston Properties, Inc. | 34,214 | |||||
119,085 | |||||||
Residential REITs - 0.4% | |||||||
440 | AvalonBay Communities, Inc. | 78,074 | |||||
352 | Camden Property Trust | 43,370 | |||||
1,232 | Equity Residential | 78,417 | |||||
207 | Essex Property Trust, Inc. | 46,796 | |||||
2,024 | Invitation Homes, Inc. | 65,780 | |||||
368 | Mid-America Apartment Communities, Inc. | 61,353 | |||||
378 | Sun Communities, Inc. | 59,293 | |||||
1,056 | UDR, Inc. | 44,975 | |||||
478,058 | |||||||
Retail REITs - 0.2% | |||||||
2,027 | Realty Income Corp. | 137,491 | |||||
1,056 | Simon Property Group, Inc. | 135,654 | |||||
273,145 | |||||||
Specialized REITs - 1.2% | |||||||
1,523 | American Tower Corp. | 340,223 | |||||
1,408 | Crown Castle, Inc. | 208,539 | |||||
915 | Digital Realty Trust, Inc. | 104,877 | |||||
293 | Equinix, Inc. | 216,272 | |||||
440 | Extra Space Storage, Inc. | 69,445 | |||||
478 | Public Storage | 145,475 | |||||
352 | SBA Communications Corp. | 104,731 | |||||
3,168 | VICI Properties, Inc. | 108,282 | |||||
2,464 | Weyerhaeuser Co. | 84,836 | |||||
1,382,680 | |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $2,712,832) | 2,922,120 | ||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.0% (d) | |||||||
40,470 | First American Government Obligations Fund - Class X, 4.14% (e) | 40,470 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $40,470) | 40,470 | ||||||
MONEY MARKET FUNDS - 0.4% | |||||||
516,930 | First American Government Obligations Fund - Class X, 4.14% (e) | 516,930 | |||||
TOTAL MONEY MARKET FUNDS (Cost $516,930) | 516,930 | ||||||
TOTAL INVESTMENTS (Cost $107,435,488) - 99.9% | $ | 113,616,912 | |||||
Other Assets in Excess of Liabilities - 0.1% | 67,537 | ||||||
TOTAL NET ASSETS - 100.0% | $ | 113,684,449 |
The accompanying notes are an integral part of these financial statements.
23
Strive 500 ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | This security or a portion of this security was out on loan as of January 31, 2023. Total loaned securities had a market value of $40,943 as of January 31, 2023. |
(d) | Represents less than 0.05% of net assets. |
(e) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
24
Strive U.S. Semiconductor ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 99.7% | |||||||
Electronic Manufacturing Services - 4.3% | |||||||
5,835 | TE Connectivity Ltd. ADR (a) | $ | 741,920 | ||||
Semiconductor Equipment - 19.8% | |||||||
7,731 | Applied Materials, Inc. | 861,929 | |||||
2,442 | Enphase Energy, Inc. (b) | 540,610 | |||||
2,737 | Entegris, Inc. | 220,903 | |||||
2,091 | KLA Corp. | 820,676 | |||||
1,708 | Lam Research Corp. | 854,171 | |||||
1,191 | MKS Instruments, Inc. | 121,863 | |||||
3,420,152 | |||||||
Semiconductors - 75.6% | |||||||
10,134 | Advanced Micro Devices, Inc. (b) | 761,570 | |||||
4,537 | Analog Devices, Inc. | 777,959 | |||||
2,371 | Broadcom, Inc. | 1,387,059 | |||||
1,003 | Cirrus Logic, Inc. (b) | 90,661 | |||||
771 | Diodes, Inc. (b) | 68,766 | |||||
1,842 | First Solar, Inc. (b) | 327,139 | |||||
1,259 | GlobalFoundries, Inc. ADR (a)(b)(c) | 74,634 | |||||
41,686 | Intel Corp. | 1,178,046 | |||||
2,545 | Lattice Semiconductor Corp. (b) | 192,886 | |||||
14,275 | Marvell Technology, Inc. | 615,966 | |||||
9,954 | Microchip Technology, Inc. | 772,629 | |||||
12,594 | Micron Technology, Inc. | 759,418 | |||||
810 | Monolithic Power Systems, Inc. | 345,514 | |||||
8,688 | NVIDIA Corp. | 1,697,375 | |||||
7,881 | ON Semiconductor Corp. (b) | 578,859 | |||||
1,001 | Power Integrations, Inc. | 86,176 | |||||
1,863 | Qorvo, Inc. (b) | 202,434 | |||||
9,256 | Qualcomm, Inc. | 1,232,992 | |||||
581 | Silicon Laboratories, Inc. (b) | 91,165 | |||||
2,878 | Skyworks Solutions, Inc. | 315,630 | |||||
700 | Synaptics, Inc. (b) | 87,521 | |||||
6,892 | Texas Instruments, Inc. | 1,221,331 | |||||
2,242 | Wolfspeed, Inc. (b) | 172,656 | |||||
13,038,386 | |||||||
TOTAL COMMON STOCKS (Cost $15,153,142) | 17,200,458 | ||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.4% | |||||||
66,916 | First American Government Obligations Fund - Class X, 4.14% (d) | 66,916 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $66,916) | 66,916 |
The accompanying notes are an integral part of these financial statements.
25
Strive U.S. Semiconductor ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
MONEY MARKET FUNDS - 0.3% | |||||||
41,760 | First American Government Obligations Fund - Class X, 4.14% (d) | $ | 41,760 | ||||
TOTAL MONEY MARKET FUNDS (Cost $41,760) | 41,760 | ||||||
TOTAL INVESTMENTS (Cost $15,261,818) - 100.4% | $ | 17,309,134 | |||||
Other Liabilities in Excess of Assets - (0.4%) | (63,102 | ) | |||||
TOTAL NET ASSETS - 100.0% | $ | 17,246,032 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
(a) | Foreign issued security. |
(b) | Non-income producing security. |
(c) | This security or a portion of this security was out on loan as of January 31, 2023. Total loaned securities had a market value of $67,520 as of January 31, 2023. |
(d) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
26
Strive Emerging Markets Ex-China ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 94.0% | |||||||
Brazil - 5.5% | |||||||
138,623 | Ambev S.A. | $ | 373,572 | ||||
186,078 | B3 S.A. - Brasil Bolsa Balcao | 475,431 | |||||
44,705 | Banco do Brasil S.A. | 359,574 | |||||
117,983 | Banco Santander Brasil S.A. | 673,086 | |||||
25,831 | Localiza Rent a Car S.A. | 301,344 | |||||
115,954 | Petroleo Brasileiro S.A. | 673,617 | |||||
24,768 | Suzano S.A. | 226,636 | |||||
119,122 | Vale S.A. | 2,226,483 | |||||
47,444 | WEG S.A. | 358,239 | |||||
5,667,982 | |||||||
Cayman Islands - 0.3% | |||||||
39,825 | Chailease Holding Co., Ltd. | 298,439 | |||||
Chile - 0.2% | |||||||
1,736,754 | Banco de Chile | 189,784 | |||||
India - 22.3% | |||||||
10,473 | Adani Enterprises Ltd. | 380,155 | |||||
15,924 | Adani Green Energy Ltd. (a) | 237,882 | |||||
22,029 | Asian Paints Ltd. | 732,926 | |||||
87,506 | Axis Bank Ltd. | 930,934 | |||||
8,366 | Bajaj Finance Ltd. | 601,079 | |||||
70,981 | Bharti Airtel Ltd. | 667,368 | |||||
32,849 | HCL Technologies Ltd. | 449,942 | |||||
143,869 | HDFC Bank Ltd. | 2,815,787 | |||||
26,654 | Hindustan Unilever Ltd. | 838,298 | |||||
55,707 | Housing Development Finance Corp. Ltd. | 1,783,460 | |||||
209,847 | ICICI Bank Ltd. | 2,130,775 | |||||
109,356 | Infosys Ltd. | 2,047,203 | |||||
241,803 | ITC Ltd. | 1,039,919 | |||||
42,460 | Kotak Mahindra Bank Ltd. | 897,100 | |||||
33,259 | Larsen & Toubro Ltd. | 862,401 | |||||
32,633 | Mahindra & Mahindra Ltd. | 549,169 | |||||
4,142 | Maruti Suzuki India Ltd. | 449,712 | |||||
98,290 | Reliance Industries Ltd. | 2,823,916 | |||||
104,859 | State Bank of India | 708,414 | |||||
33,005 | Sun Pharmaceutical Industries Ltd. | 416,748 | |||||
29,650 | Tata Consultancy Services Ltd. | 1,215,513 | |||||
12,386 | Titan Co., Ltd. | 359,378 | |||||
22,938,079 | |||||||
Indonesia - 2.9% | |||||||
678,746 | Astra International Tbk PT | 271,680 | |||||
1,857,308 | Bank Central Asia Tbk PT | 1,050,079 | |||||
629,810 | Bank Mandiri Persero Tbk PT | 418,053 | |||||
2,523,127 | Bank Rakyat Indonesia Persero Tbk PT | 770,909 |
The accompanying notes are an integral part of these financial statements.
27
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
1,688,815 | Telkom Indonesia Persero Tbk PT | $ | 433,752 | ||||
2,944,473 | |||||||
Malaysia - 1.5% | |||||||
176,568 | CIMB Group Holdings Bhd | 238,004 | |||||
29,317 | Hong Leong Bank Bhd | 141,027 | |||||
179,760 | Malayan Banking Bhd | 368,306 | |||||
141,438 | Press Metal Aluminium Holdings Bhd | 171,751 | |||||
432,080 | Public Bank Bhd | 429,472 | |||||
73,957 | Tenaga Nasional Bhd | 163,318 | |||||
1,511,878 | |||||||
Mexico - 3.9% | |||||||
467,131 | America Movil S.A.B. de C.V. | 487,709 | |||||
459,353 | Cemex S.A.B. de C.V. (a) | 244,429 | |||||
68,516 | Fomento Economico Mexicano S.A.B. de C.V. | 599,890 | |||||
71,305 | Grupo Carso S.A.B. de C.V. | 357,841 | |||||
91,433 | Grupo Financiero Banorte S.A.B. de C.V. | 757,471 | |||||
199,526 | Grupo Mexico S.A.B. de C.V. - Class B | 887,406 | |||||
163,287 | Wal-Mart de Mexico S.A.B. de C.V. | 637,782 | |||||
3,972,528 | |||||||
Philippines - 1.3% | |||||||
312,652 | Ayala Land, Inc. | 167,694 | |||||
94,843 | Bank of the Philippine Islands | 182,299 | |||||
112,095 | BDO Unibank, Inc. | 251,984 | |||||
24,927 | SM Investments Corp. | 419,804 | |||||
460,125 | SM Prime Holdings, Inc. | 310,807 | |||||
1,332,588 | |||||||
Poland - 0.9% | |||||||
33,919 | Polski Koncern Naftowy ORLEN S.A. | 508,350 | |||||
54,139 | Powszechna Kasa Oszczednosci Bank Polski S.A. | 401,946 | |||||
910,296 | |||||||
Qatar - 1.6% | |||||||
107,788 | Industries Qatar Q.S.C. | 415,850 | |||||
80,277 | Qatar Islamic Bank S.A.Q. | 433,596 | |||||
161,416 | Qatar National Bank Q.P.S.C. | 797,827 | |||||
1,647,273 | |||||||
Republic of Korea - 13.9% | |||||||
2,664 | Celltrion, Inc. | 349,491 | |||||
7,261 | Hana Financial Group, Inc. | 287,363 | |||||
1,477 | Hyundai Mobis Co., Ltd. | 246,407 | |||||
3,240 | Hyundai Motor Co. | 439,260 | |||||
7,663 | Kakao Corp. | 381,968 | |||||
8,778 | KB Financial Group, Inc. | 398,352 | |||||
6,192 | Kia Corp. | 335,790 | |||||
2,707 | KT&G Corp. | 203,278 | |||||
1,189 | LG Chem Ltd. | 666,025 | |||||
2,869 | LG Corp. | 192,850 | |||||
2,705 | LG Electronics, Inc. | 219,817 |
The accompanying notes are an integral part of these financial statements.
28
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
656 | LG Energy Solution Ltd. (a) | $ | 277,461 | ||||
3,605 | Naver Corp. | 592,639 | |||||
1,681 | POSCO Holdings, Inc. | 410,083 | |||||
492 | Samsung Biologics Co., Ltd. (a)(b) | 316,737 | |||||
2,090 | Samsung C&T Corp. | 201,059 | |||||
133,537 | Samsung Electronics Co., Ltd. | 6,612,889 | |||||
1,311 | Samsung SDI Co., Ltd. | 729,043 | |||||
12,464 | Shinhan Financial Group Co., Ltd. | 420,425 | |||||
13,532 | SK Hynix, Inc. | 972,221 | |||||
14,253,158 | |||||||
Saudi Arabia - 9.0% | |||||||
104,060 | Al Rajhi Bank (a) | 2,273,626 | |||||
57,524 | Alinma Bank | 503,507 | |||||
70,439 | Riyad Bank | 578,077 | |||||
23,248 | Saudi Arabian Mining Co. (a) | 456,535 | |||||
368,350 | Saudi Arabian Oil Co. (b) | 3,233,982 | |||||
25,872 | Saudi Basic Industries Corp. | 639,045 | |||||
80,895 | Saudi National Bank | 1,019,540 | |||||
51,866 | Saudi Telecom Co. | 509,954 | |||||
9,214,266 | |||||||
South Africa - 3.6% | |||||||
25,246 | Absa Group Ltd. | 288,515 | |||||
12,752 | AngloGold Ashanti Ltd. | 265,264 | |||||
2,172 | Capitec Bank Holdings Ltd. | 223,660 | |||||
130,181 | FirstRand Ltd. | 482,193 | |||||
26,987 | Gold Fields Ltd. | 306,023 | |||||
23,898 | Impala Platinum Holdings Ltd. | 276,544 | |||||
48,028 | MTN Group Ltd. | 405,395 | |||||
4,507 | Naspers Ltd. | 866,833 | |||||
14,590 | Sasol Ltd. | 262,687 | |||||
36,804 | Standard Bank Group Ltd. | 366,411 | |||||
3,743,525 | |||||||
Taiwan - 19.2% | |||||||
98,066 | ASE Technology Holding Co., Ltd. | 326,615 | |||||
220,247 | Cathay Financial Holding Co., Ltd. | 312,124 | |||||
442,136 | China Development Financial Holding Corp. | 194,378 | |||||
307,895 | China Steel Corp. | 324,559 | |||||
137,193 | Chunghwa Telecom Co., Ltd. | 514,045 | |||||
498,162 | CTBC Financial Holding Co., Ltd. | 379,117 | |||||
50,571 | Delta Electronics, Inc. | 486,762 | |||||
344,234 | E.Sun Financial Holding Co., Ltd. | 280,890 | |||||
43,639 | Evergreen Marine Corp. Taiwan Ltd. | 220,920 | |||||
280,662 | First Financial Holding Co., Ltd. | 243,973 | |||||
89,289 | Formosa Chemicals & Fibre Corp. | 214,710 | |||||
127,350 | Formosa Plastics Corp. | 378,763 | |||||
192,235 | Fubon Financial Holding Co., Ltd. | 385,430 | |||||
312,080 | Hon Hai Precision Industry Co., Ltd. | 1,036,282 |
The accompanying notes are an integral part of these financial statements.
29
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
263,313 | Hua Nan Financial Holdings Co., Ltd. - Class C | $ | 199,513 | ||||
39,785 | MediaTek, Inc. | 951,395 | |||||
279,924 | Mega Financial Holding Co., Ltd. | 297,871 | |||||
128,991 | Nan Ya Plastics Corp. | 323,927 | |||||
253,593 | Taiwan Cooperative Financial Holding Co., Ltd. | 223,398 | |||||
63,572 | Taiwan Mobile Co., Ltd. | 200,297 | |||||
635,560 | Taiwan Semiconductor Manufacturing Co., Ltd. | 11,049,536 | |||||
126,694 | Uni-President Enterprises Corp. | 283,980 | |||||
317,657 | United Microelectronics Corp. | 516,292 | |||||
11,853 | Yageo Corp. | 213,176 | |||||
318,231 | Yuanta Financial Holding Co., Ltd. | 238,475 | |||||
19,796,428 | |||||||
Thailand - 3.7% | |||||||
35,753 | Advanced Info Service PCL | 211,204 | |||||
142,835 | Airports of Thailand PCL (a) | 321,281 | |||||
62,284 | Bangkok Bank PCL | 299,061 | |||||
357,619 | Bangkok Dusit Medical Services PCL | 322,301 | |||||
163,540 | CP All PCL | 329,458 | |||||
15,952 | Delta Electronics Thailand PCL | 434,923 | |||||
148,734 | Gulf Energy Development PCL | 242,183 | |||||
81,237 | Kasikornbank PCL | 356,842 | |||||
45,463 | PTT Exploration & Production PCL | 236,198 | |||||
449,861 | PTT PCL | 453,132 | |||||
116,006 | SCB X PCL | 365,484 | |||||
25,081 | Siam Cement PCL | 255,293 | |||||
3,827,360 | |||||||
Turkey - 0.8% | |||||||
78,522 | Akbank T.A.S. | 70,886 | |||||
11,399 | BIM Birlesik Magazalar AS | 75,451 | |||||
45,790 | Enka Insaat ve Sanayi AS | 72,254 | |||||
42,475 | Eregli Demir ve Celik Fabrikalari T.A.S. | 86,037 | |||||
25,542 | KOC Holding AS | 103,815 | |||||
11,669 | Sasa Polyester Sanayi AS (a) | 62,225 | |||||
17,878 | Turk Hava Yollari A.O. (a) | 130,787 | |||||
3,769 | Turkiye Petrol Rafinerileri AS (a) | 118,505 | |||||
33,488 | Turkiye Sise ve Cam Fabrikalari AS | 70,397 | |||||
790,357 | |||||||
United Arab Emirates - 3.4% | |||||||
40,249 | Alpha Dhabi Holding PJSC (a) | 262,987 | |||||
180,145 | Emaar Properties PJSC | 272,687 | |||||
71,307 | Emirates NBD Bank PJSC | 251,402 | |||||
101,004 | Emirates Telecommunications Group Co. PJSC | 706,706 | |||||
150,041 | First Abu Dhabi Bank PJSC | 555,541 | |||||
13,861 | International Holding Co. PJSC (a) | 1,510,215 | |||||
3,559,538 | |||||||
TOTAL COMMON STOCKS (Cost $96,781,158) | 96,597,952 |
The accompanying notes are an integral part of these financial statements.
30
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
PREFERRED STOCKS - 3.9% | |||||||
Brazil - 2.4% | |||||||
163,389 | Banco Bradesco S.A. | $ | 452,866 | ||||
35,683 | Gerdau S.A. | 231,265 | |||||
151,757 | Itau Unibanco Holding S.A. | 757,245 | |||||
162,637 | Itausa S.A. | 272,968 | |||||
143,771 | Petroleo Brasileiro S.A. | 741,470 | |||||
2,455,814 | |||||||
Chile - 0.5% | |||||||
5,741 | Sociedad Quimica y Minera de Chile S.A. - Class B | 558,456 | |||||
Republic of Korea - 1.0% | |||||||
23,240 | Samsung Electronics Co., Ltd. | 1,037,669 | |||||
TOTAL PREFERRED STOCKS (Cost $4,051,807) | 4,051,939 | ||||||
TOTAL INVESTMENTS (Cost $100,832,965) - 97.9% | $ | 100,649,891 | |||||
Other Assets in Excess of Liabilities - 2.1% | 2,135,298 | ||||||
TOTAL NET ASSETS - 100.0% | $ | 102,785,189 |
Percentages are stated as a percent of net assets.
(a) | Non-income producing security. |
(b) | 144A restricted security. |
The accompanying notes are an integral part of these financial statements.
31
Strive 1000 Dividend Growth ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 95.5% | |||||||
Aerospace & Defense - 2.3% | |||||||
34 | BWX Technologies, Inc. | $ | 2,069 | ||||
14 | Curtiss-Wright Corp. | 2,321 | |||||
93 | General Dynamics Corp. | 21,675 | |||||
28 | HEICO Corp. - Class A | 3,743 | |||||
16 | HEICO Corp. | 2,735 | |||||
73 | L3Harris Technologies, Inc. | 15,682 | |||||
101 | Lockheed Martin Corp. | 46,789 | |||||
54 | Northrop Grumman Corp. | 24,194 | |||||
119,208 | |||||||
Agricultural & Farm Machinery - 0.1% | |||||||
40 | Toro Co. | 4,461 | |||||
Air Freight & Logistics - 1.1% | |||||||
62 | Expeditors International of Washington, Inc. | 6,705 | |||||
282 | United Parcel Service, Inc. - Class B | 52,235 | |||||
58,940 | |||||||
Apparel, Accessories & Luxury Goods - 0.1% | |||||||
134 | VF Corp. | 4,146 | |||||
Application Software - 1.2% | |||||||
106 | Intuit, Inc. | 44,803 | |||||
41 | Roper Technologies, Inc. | 17,497 | |||||
62,300 | |||||||
Asset Management & Custody Banks - 1.3% | |||||||
41 | Ameriprise Financial, Inc. | 14,355 | |||||
54 | BlackRock, Inc. | 40,997 | |||||
46 | SEI Investments Co. | 2,872 | |||||
85 | T. Rowe Price Group, Inc. | 9,900 | |||||
68,124 | |||||||
Auto Parts & Equipment - 0.0% (a) | |||||||
90 | Gentex Corp. | 2,656 | |||||
Biotechnology - 2.9% | |||||||
681 | AbbVie, Inc. | 100,618 | |||||
206 | Amgen, Inc. | 51,994 | |||||
152,612 | |||||||
Building Products - 0.8% | |||||||
49 | A.O. Smith Corp. | 3,317 | |||||
28 | Advanced Drainage Systems, Inc. | 2,824 | |||||
33 | Allegion PLC ADR (b) | 3,879 | |||||
20 | Carlisle Cos., Inc. | 5,017 | |||||
49 | Fortune Brands Innovations, Inc. | 3,161 | |||||
12 | Lennox International, Inc. | 3,127 | |||||
86 | Masco Corp. | 4,575 | |||||
49 | Masterbrand, Inc. (c) | 451 |
The accompanying notes are an integral part of these financial statements.
32
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
89 | Trane Technologies PLC ADR (b) | $ | 15,942 | ||||
42,293 | |||||||
Cable & Satellite - 0.1% | |||||||
2 | Cable One, Inc. | 1,580 | |||||
261 | Sirius XM Holdings, Inc. | 1,511 | |||||
3,091 | |||||||
Casinos & Gaming - 0.1% | |||||||
13 | Churchill Downs, Inc. | 3,225 | |||||
Communications Equipment - 1.6% | |||||||
1,446 | Cisco Systems, Inc. | 70,377 | |||||
64 | Motorola Solutions, Inc. | 16,449 | |||||
86,826 | |||||||
Construction Machinery & Heavy Trucks - 1.0% | |||||||
203 | Caterpillar, Inc. | 51,215 | |||||
Construction Materials - 0.3% | |||||||
24 | Martin Marietta Materials, Inc. | 8,631 | |||||
49 | Vulcan Materials Co. | 8,983 | |||||
17,614 | |||||||
Consumer Finance - 0.2% | |||||||
104 | Discover Financial Services | 12,140 | |||||
Data Processing & Outsourced Services - 6.4% | |||||||
160 | Automatic Data Processing, Inc. | 36,130 | |||||
45 | Broadridge Financial Solutions, Inc. | 6,766 | |||||
28 | Jack Henry & Associates, Inc. | 5,043 | |||||
328 | Mastercard, Inc. - Class A | 121,557 | |||||
124 | Paychex, Inc. | 14,367 | |||||
85 | SS&C Technologies Holdings, Inc. | 5,130 | |||||
629 | Visa, Inc. - Class A | 144,802 | |||||
333,795 | |||||||
Distillers & Vintners - 0.4% | |||||||
117 | Brown-Forman Corp. - Class B | 7,790 | |||||
56 | Constellation Brands, Inc. - Class A | 12,965 | |||||
20,755 | |||||||
Distributors - 0.1% | |||||||
15 | Pool Corp. | 5,784 | |||||
Diversified Banks - 1.8% | |||||||
2,697 | Bank of America Corp. | 95,690 | |||||
Electric Utilities - 1.7% | |||||||
96 | Alliant Energy Corp. | 5,187 | |||||
132 | Eversource Energy | 10,868 | |||||
20 | IDACORP, Inc. | 2,116 | |||||
756 | NextEra Energy, Inc. | 56,420 |
The accompanying notes are an integral part of these financial statements.
33
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
210 | Xcel Energy, Inc. | $ | 14,442 | ||||
89,033 | |||||||
Electrical Components & Equipment - 0.9% | |||||||
153 | Eaton Corp. PLC ADR (b) | 24,818 | |||||
20 | Hubbell, Inc. | 4,578 | |||||
25 | Regal Rexnord Corp. | 3,480 | |||||
44 | Rockwell Automation, Inc. | 12,409 | |||||
45,285 | |||||||
Electronic Components - 0.6% | |||||||
228 | Amphenol Corp. - Class A | 18,188 | |||||
285 | Corning, Inc. | 9,864 | |||||
9 | Littelfuse, Inc. | 2,310 | |||||
30,362 | |||||||
Electronic Equipment & Instruments - 0.1% | |||||||
64 | Cognex Corp. | 3,503 | |||||
50 | National Instruments Corp. | 2,700 | |||||
6,203 | |||||||
Electronic Manufacturing Services - 0.3% | |||||||
125 | TE Connectivity Ltd. ADR (b) | 15,894 | |||||
Environmental & Facilities Services - 0.7% | |||||||
80 | Republic Services, Inc. | 9,986 | |||||
20 | Tetra Tech, Inc. | 3,110 | |||||
157 | Waste Management, Inc. | 24,293 | |||||
37,389 | |||||||
Fertilizers & Agricultural Chemicals - 0.0% (a) | |||||||
14 | Scotts Miracle-Gro Co. | 1,011 | |||||
Financial Exchanges & Data - 3.0% | |||||||
41 | Cboe Global Markets, Inc. | 5,038 | |||||
137 | CME Group, Inc. | 24,202 | |||||
15 | FactSet Research Systems, Inc. | 6,344 | |||||
213 | Intercontinental Exchange, Inc. | 22,908 | |||||
14 | MarketAxess Holdings, Inc. | 5,094 | |||||
60 | Moody’s Corp. | 19,365 | |||||
9 | Morningstar, Inc. | 2,186 | |||||
30 | MSCI, Inc. | 15,947 | |||||
153 | Nasdaq, Inc. | 9,209 | |||||
129 | S&P Global, Inc. | 48,367 | |||||
158,660 | |||||||
Food Distributors - 0.3% | |||||||
193 | Sysco Corp. | 14,950 | |||||
Food Retail - 0.1% | |||||||
14 | Casey’s General Stores, Inc. | 3,303 |
The accompanying notes are an integral part of these financial statements.
34
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Footwear - 1.2% | |||||||
485 | Nike, Inc. - Class B | $ | 61,755 | ||||
Gas Utilities - 0.1% | |||||||
53 | Atmos Energy Corp. | 6,230 | |||||
General Merchandise Stores - 0.6% | |||||||
177 | Target Corp. | 30,469 | |||||
Gold - 0.1% | |||||||
25 | Royal Gold, Inc. | 3,176 | |||||
Health Care Equipment - 3.4% | |||||||
670 | Abbott Laboratories | 74,068 | |||||
193 | Baxter International, Inc. | 8,818 | |||||
512 | Medtronic PLC ADR (b) | 42,849 | |||||
56 | ResMed, Inc. | 12,789 | |||||
38 | Steris PLC ADR (b) | 7,847 | |||||
128 | Stryker Corp. | 32,488 | |||||
178,859 | |||||||
Health Care Services - 0.2% | |||||||
6 | Chemed Corp. | 3,031 | |||||
44 | Quest Diagnostics, Inc. | 6,533 | |||||
9,564 | |||||||
Home Improvement Retail - 3.4% | |||||||
397 | Home Depot, Inc. | 128,695 | |||||
240 | Lowe’s Cos., Inc. | 49,980 | |||||
178,675 | |||||||
Homebuilding - 0.2% | |||||||
124 | D.R. Horton, Inc. | 12,238 | |||||
Homefurnishing Retail - 0.1% | |||||||
25 | Williams-Sonoma, Inc. | 3,373 | |||||
Household Products - 2.8% | |||||||
93 | Church & Dwight Co., Inc. | 7,520 | |||||
48 | Clorox Co. | 6,945 | |||||
916 | Procter & Gamble Co. | 130,420 | |||||
144,885 | |||||||
Human Resource & Employment Services - 0.1% | |||||||
41 | Robert Half International, Inc. | 3,442 | |||||
Hypermarkets & Super Centers - 1.7% | |||||||
171 | Costco Wholesale Corp. | 87,405 | |||||
Industrial Conglomerates - 1.5% | |||||||
213 | 3M Co. | 24,512 |
The accompanying notes are an integral part of these financial statements.
35
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
259 | Honeywell International, Inc. | $ | 53,996 | ||||
78,508 | |||||||
Industrial Gases - 0.5% | |||||||
85 | Air Products and Chemicals, Inc. | 27,243 | |||||
Industrial Machinery - 1.7% | |||||||
46 | Donaldson Co., Inc. | 2,868 | |||||
53 | Dover Corp. | 8,047 | |||||
64 | Graco, Inc. | 4,372 | |||||
29 | IDEX Corp. | 6,951 | |||||
105 | Illinois Tool Works, Inc. | 24,784 | |||||
32 | ITT, Inc. | 2,931 | |||||
22 | Lincoln Electric Holdings, Inc. | 3,671 | |||||
20 | Nordson Corp. | 4,866 | |||||
49 | Parker-Hannifin Corp. | 15,974 | |||||
20 | Snap-on, Inc. | 4,975 | |||||
57 | Stanley Black & Decker, Inc. | 5,091 | |||||
69 | Xylem, Inc. | 7,177 | |||||
91,707 | |||||||
Insurance Brokers - 1.7% | |||||||
77 | Aon PLC - Class A ADR (b) | 24,538 | |||||
80 | Arthur J. Gallagher & Co. | 15,658 | |||||
89 | Brown & Brown, Inc. | 5,212 | |||||
190 | Marsh & McLennan Cos., Inc. | 33,233 | |||||
42 | Willis Towers Watson PLC ADR (b) | 10,676 | |||||
89,317 | |||||||
Interactive Home Entertainment - 0.4% | |||||||
273 | Activision Blizzard, Inc. | 20,904 | |||||
Investment Banking & Brokerage - 1.0% | |||||||
18 | Houlihan Lokey, Inc. | 1,783 | |||||
510 | Morgan Stanley | 49,638 | |||||
51,421 | |||||||
IT Consulting & Other Services - 0.1% | |||||||
46 | Amdocs Ltd. ADR (b) | 4,229 | |||||
Leisure Products - 0.0% (a) | |||||||
28 | Brunswick Corp. | 2,361 | |||||
Life & Health Insurance - 0.0% (a) | |||||||
14 | Primerica, Inc. | 2,264 | |||||
Life Sciences Tools & Services - 1.4% | |||||||
256 | Danaher Corp. | 67,681 | |||||
28 | West Pharmaceutical Services, Inc. | 7,437 | |||||
75,118 | |||||||
Managed Health Care - 4.8% | |||||||
92 | Elevance Health, Inc. | 45,999 |
The accompanying notes are an integral part of these financial statements.
36
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
48 | Humana, Inc. | $ | 24,562 | ||||
360 | UnitedHealth Group, Inc. | 179,708 | |||||
250,269 | |||||||
Metal & Glass Containers - 0.1% | |||||||
120 | Ball Corp. | 6,989 | |||||
Multi-Utilities - 0.5% | |||||||
98 | Ameren Corp. | 8,513 | |||||
112 | CMS Energy Corp. | 7,077 | |||||
121 | WEC Energy Group, Inc. | 11,373 | |||||
26,963 | |||||||
Oil & Gas Exploration & Production - 0.1% | |||||||
2 | Texas Pacific Land Corp. | 3,992 | |||||
Packaged Foods & Meats - 1.2% | |||||||
68 | Flowers Foods, Inc. | 1,883 | |||||
56 | Hershey Co. | 12,578 | |||||
109 | Hormel Foods Corp. | 4,939 | |||||
8 | Lancaster Colony Corp. | 1,535 | |||||
96 | McCormick & Co., Inc. | 7,211 | |||||
526 | Mondelez International, Inc. - Class A | 34,421 | |||||
62,567 | |||||||
Paper Packaging - 0.1% | |||||||
30 | Avery Dennison Corp. | 5,683 | |||||
Pharmaceuticals - 9.7% | |||||||
327 | Eli Lilly & Co. | 112,537 | |||||
1,015 | Johnson & Johnson | 165,871 | |||||
972 | Merck & Co., Inc. | 104,402 | |||||
2,187 | Pfizer, Inc. | 96,578 | |||||
164 | Zoetis, Inc. | 27,140 | |||||
506,528 | |||||||
Property & Casualty Insurance - 0.2% | |||||||
60 | Cincinnati Financial Corp. | 6,789 | |||||
9 | Erie Indemnity Co. - Class A | 2,199 | |||||
17 | RLI Corp. | 2,252 | |||||
11,240 | |||||||
Railroads - 1.8% | |||||||
808 | CSX Corp. | 24,983 | |||||
89 | Norfolk Southern Corp. | 21,877 | |||||
233 | Union Pacific Corp. | 47,576 | |||||
94,436 | |||||||
Regional Banks - 0.9% | |||||||
44 | Commerce Bancshares, Inc. | 2,929 | |||||
22 | Cullen/Frost Bankers, Inc. | 2,866 | |||||
5 | First Citizens BancShares, Inc. - Class A | 3,888 | |||||
53 | First Financial Bankshares, Inc. | 1,888 | |||||
69 | First Republic Bank | 9,721 |
The accompanying notes are an integral part of these financial statements.
37
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
154 | PNC Financial Services Group, Inc. | $ | 25,476 | ||||
46,768 | |||||||
Research & Consulting Services - 0.1% | |||||||
50 | Booz Allen Hamilton Holding Corp. | 4,732 | |||||
Restaurants - 2.4% | |||||||
13 | Domino’s Pizza, Inc. | 4,589 | |||||
284 | McDonald’s Corp. | 75,942 | |||||
433 | Starbucks Corp. | 47,258 | |||||
127,789 | |||||||
Semiconductor Equipment - 0.9% | |||||||
55 | KLA Corp. | 21,586 | |||||
53 | Lam Research Corp. | 26,505 | |||||
48,091 | |||||||
Semiconductors - 4.8% | |||||||
197 | Analog Devices, Inc. | 33,780 | |||||
153 | Broadcom, Inc. | 89,507 | |||||
432 | Qualcomm, Inc. | 57,547 | |||||
61 | Skyworks Solutions, Inc. | 6,690 | |||||
349 | Texas Instruments, Inc. | 61,846 | |||||
249,370 | |||||||
Soft Drinks - 1.7% | |||||||
530 | PepsiCo, Inc. | 90,641 | |||||
Specialized Consumer Services - 0.1% | |||||||
58 | Service Corp. International | 4,301 | |||||
Specialty Chemicals - 1.6% | |||||||
45 | Albemarle Corp. | 12,665 | |||||
18 | Ashland, Inc. | 1,967 | |||||
38 | Celanese Corp. | 4,682 | |||||
97 | Ecolab, Inc. | 15,018 | |||||
98 | International Flavors & Fragrances, Inc. | 11,021 | |||||
90 | PPG Industries, Inc. | 11,731 | |||||
49 | RPM International, Inc. | 4,406 | |||||
92 | Sherwin-Williams Co. | 21,766 | |||||
83,256 | |||||||
Specialty Stores - 0.2% | |||||||
42 | Tractor Supply Co. | 9,576 | |||||
Systems Software - 6.0% | |||||||
22 | Dolby Laboratories, Inc. - Class A | 1,750 | |||||
1,051 | Microsoft Corp. | 260,448 | |||||
598 | Oracle Corp. | 52,899 | |||||
315,097 | |||||||
Technology Distributors - 0.2% | |||||||
52 | CDW Corp. | 10,194 |
The accompanying notes are an integral part of these financial statements.
38
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Technology Hardware, Storage & Peripherals - 5.4% | |||||||
1,912 | Apple, Inc. | $ | 275,882 | ||||
84 | NetApp, Inc. | 5,563 | |||||
281,445 | |||||||
Trading Companies & Distributors - 0.5% | |||||||
220 | Fastenal Co. | 11,121 | |||||
13 | Watsco, Inc. | 3,736 | |||||
17 | W.W. Grainger, Inc. | 10,021 | |||||
24,878 | |||||||
Trucking - 0.2% | |||||||
32 | J.B. Hunt Transport Services, Inc. | 6,050 | |||||
13 | Landstar System, Inc. | 2,247 | |||||
8,297 | |||||||
Water Utilities - 0.3% | |||||||
69 | American Water Works Co., Inc. | 10,798 | |||||
90 | Essential Utilities, Inc. | 4,206 | |||||
15,004 | |||||||
TOTAL COMMON STOCKS (Cost $4,852,148) | 4,998,214 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 4.2% | |||||||
Diversified REITs - 0.1% | |||||||
100 | STORE Capital Corp. | 3,221 | |||||
Industrial REITs - 1.1% | |||||||
16 | EastGroup Properties, Inc. | 2,692 | |||||
50 | First Industrial Realty Trust, Inc. | 2,667 | |||||
357 | Prologis, Inc. | 46,153 | |||||
70 | Rexford Industrial Realty, Inc. | 4,443 | |||||
55,955 | |||||||
Office REITs - 0.2% | |||||||
62 | Alexandria Real Estate Equities, Inc. | 9,966 | |||||
58 | Cousins Properties, Inc. | 1,590 | |||||
44 | Kilroy Realty Corp. | 1,806 | |||||
13,362 | |||||||
Residential REITs - 0.6% | |||||||
65 | Equity LifeStyle Properties, Inc. | 4,666 | |||||
25 | Essex Property Trust, Inc. | 5,652 | |||||
44 | Mid-America Apartment Communities, Inc. | 7,336 | |||||
46 | Sun Communities, Inc. | 7,216 | |||||
124 | UDR, Inc. | 5,281 | |||||
30,151 |
The accompanying notes are an integral part of these financial statements.
39
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Specialized REITs - 2.2% | |||||||
180 | American Tower Corp. | $ | 40,210 | ||||
166 | Crown Castle, Inc. | 24,586 | |||||
85 | CubeSmart | 3,892 | |||||
110 | Digital Realty Trust, Inc. | 12,608 | |||||
35 | Equinix, Inc. | 25,835 | |||||
50 | Extra Space Storage, Inc. | 7,891 | |||||
33 | National Storage Affiliates Trust | 1,346 | |||||
116,368 | |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $201,624) | 219,057 | ||||||
MONEY MARKET FUNDS - 0.2% | |||||||
10,765 | First American Government Obligations Fund - Class X, 4.14% (d) | 10,765 | |||||
TOTAL MONEY MARKET FUNDS (Cost $10,765) | 10,765 | ||||||
TOTAL INVESTMENTS (Cost $5,064,537) - 99.9% | $ | 5,228,036 | |||||
Other Assets in Excess of Liabilities - 0.1% | 3,331 | ||||||
TOTAL NET ASSETS - 100.0% | $ | 5,231,367 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Represents less than 0.05% of net assets. |
(b) | Foreign issued security. |
(c) | Non-income producing security. |
(d) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
40
Strive 1000 Growth ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 96.6% | |||||||
Advertising - 0.1% | |||||||
72 | Trade Desk, Inc. - Class A (a) | $ | 3,650 | ||||
Aerospace & Defense - 1.5% | |||||||
12 | Axon Enterprise, Inc. (a) | 2,345 | |||||
66 | Boeing Co. (a) | 14,058 | |||||
12 | BWX Technologies, Inc. | 730 | |||||
3 | Curtiss-Wright Corp. | 497 | |||||
15 | General Dynamics Corp. | 3,496 | |||||
12 | HEICO Corp. - Class A | 1,604 | |||||
6 | HEICO Corp. | 1,026 | |||||
15 | Hexcel Corp. | 1,059 | |||||
24 | Howmet Aerospace, Inc. | 977 | |||||
3 | Huntington Ingalls Industries, Inc. | 662 | |||||
27 | L3Harris Technologies, Inc. | 5,800 | |||||
24 | Lockheed Martin Corp. | 11,118 | |||||
21 | Northrop Grumman Corp. | 9,409 | |||||
6 | Textron, Inc. | 437 | |||||
9 | TransDigm Group, Inc. | 6,460 | |||||
6 | Woodward, Inc. | 614 | |||||
60,292 | |||||||
Agricultural & Farm Machinery - 0.5% | |||||||
39 | Deere & Co. | 16,491 | |||||
15 | Toro Co. | 1,673 | |||||
18,164 | |||||||
Agricultural Products - 0.0% (b) | |||||||
24 | Darling Ingredients, Inc. (a) | 1,591 | |||||
Air Freight & Logistics - 0.4% | |||||||
9 | C.H. Robinson Worldwide, Inc. | 902 | |||||
24 | Expeditors International of Washington, Inc. | 2,596 | |||||
9 | GXO Logistics, Inc. (a) | 471 | |||||
66 | United Parcel Service, Inc. - Class B | 12,225 | |||||
16,194 | |||||||
Airlines - 0.0% (b) | |||||||
6 | Delta Air Lines, Inc. (a) | 235 | |||||
Apparel Retail - 0.4% | |||||||
9 | Burlington Stores, Inc. (a) | 2,068 | |||||
33 | Ross Stores, Inc. | 3,900 | |||||
129 | TJX Cos., Inc. | 10,560 | |||||
16,528 | |||||||
Apparel, Accessories & Luxury Goods - 0.2% | |||||||
3 | Columbia Sportswear Co. | 288 | |||||
21 | Lululemon Athletica, Inc. (a) | 6,444 | |||||
21 | Under Armour, Inc. - Class A (a) | 260 | |||||
24 | Under Armour, Inc. - Class C (a) | 262 | |||||
7,254 |
The accompanying notes are an integral part of these financial statements.
41
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Application Software - 4.1% | |||||||
18 | ACI Worldwide, Inc. (a) | $ | 503 | ||||
78 | Adobe, Inc. (a) | 28,887 | |||||
15 | Ansys, Inc. (a) | 3,995 | |||||
30 | AppLovin Corp. - Class A (a) | 381 | |||||
12 | Asana, Inc. - Class A (a) | 186 | |||||
24 | Atlassian Corp. - Class A (a) | 3,879 | |||||
36 | Autodesk, Inc. (a) | 7,746 | |||||
36 | Bentley Systems, Inc. - Class B | 1,406 | |||||
15 | Bill.com Holdings, Inc. (a) | 1,734 | |||||
24 | Black Knight, Inc. (a) | 1,454 | |||||
45 | Cadence Design Systems, Inc. (a) | 8,227 | |||||
24 | Ceridian HCM Holding, Inc. (a) | 1,735 | |||||
15 | Confluent, Inc. - Class A (a) | 347 | |||||
12 | Coupa Software, Inc. (a) | 959 | |||||
42 | Datadog, Inc. - Class A (a) | 3,142 | |||||
33 | DocuSign, Inc. (a) | 2,001 | |||||
45 | Dropbox, Inc. - Class A (a) | 1,045 | |||||
33 | Dynatrace, Inc. (a) | 1,268 | |||||
12 | Elastic N.V. ADR (a)(c) | 706 | |||||
3 | Fair Isaac Corp. (a) | 1,998 | |||||
12 | Five9, Inc. (a) | 945 | |||||
6 | Guidewire Software, Inc. (a) | 439 | |||||
6 | HashiCorp, Inc. - Class A (a) | 193 | |||||
9 | HubSpot, Inc. (a) | 3,123 | |||||
45 | Intuit, Inc. | 19,020 | |||||
9 | Manhattan Associates, Inc. (a) | 1,173 | |||||
36 | Nutanix, Inc. - Class A (a) | 1,003 | |||||
276 | Palantir Technologies, Inc. - Class A (a) | 2,147 | |||||
9 | Paycom Software, Inc. (a) | 2,915 | |||||
6 | Paylocity Holding Corp. (a) | 1,250 | |||||
6 | Pegasystems, Inc. | 233 | |||||
12 | Procore Technologies, Inc. (a) | 671 | |||||
18 | PTC, Inc. (a) | 2,428 | |||||
15 | Qualtrics International, Inc. - Class A (a) | 237 | |||||
15 | RingCentral, Inc. - Class A (a) | 585 | |||||
18 | Roper Technologies, Inc. | 7,682 | |||||
162 | Salesforce, Inc. (a) | 27,211 | |||||
12 | Samsara, Inc. - Class A (a) | 164 | |||||
21 | Smartsheet, Inc. - Class A (a) | 907 | |||||
27 | Splunk, Inc. (a) | 2,586 | |||||
24 | Synopsys, Inc. (a) | 8,490 | |||||
6 | Tyler Technologies, Inc. (a) | 1,937 | |||||
33 | Unity Software, Inc. (a) | 1,172 | |||||
33 | Workday, Inc. - Class A (a) | 5,987 | |||||
36 | Zoom Video Communications, Inc. - Class A (a) | 2,700 | |||||
166,797 | |||||||
Asset Management & Custody Banks - 0.8% | |||||||
24 | Ares Management Corp. - Class A | 1,992 |
The accompanying notes are an integral part of these financial statements.
42
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
12 | BlackRock, Inc. | $ | 9,111 | ||||
117 | Blackstone, Inc. | 11,227 | |||||
63 | Blue Owl Capital, Inc. | 793 | |||||
120 | KKR & Co., Inc. | 6,697 | |||||
12 | SEI Investments Co. | 749 | |||||
6 | TPG, Inc. | 193 | |||||
30,762 | |||||||
Auto Parts & Equipment - 0.1% | |||||||
33 | Aptiv PLC ADR (a)(c) | 3,732 | |||||
24 | Gentex Corp. | 708 | |||||
36 | QuantumScape Corp. (a)(d) | 306 | |||||
4,746 | |||||||
Automobile Manufacturers - 1.9% | |||||||
51 | Lucid Group, Inc. (a) | 596 | |||||
102 | Rivian Automotive, Inc. - Class A (a) | 1,979 | |||||
432 | Tesla, Inc. (a) | 74,831 | |||||
77,406 | |||||||
Automotive Retail - 0.5% | |||||||
3 | Advance Auto Parts, Inc. | 457 | |||||
3 | AutoZone, Inc. (a) | 7,317 | |||||
12 | CarMax, Inc. (a) | 845 | |||||
6 | Carvana Co. (a) | 61 | |||||
12 | O’Reilly Automotive, Inc. (a) | 9,508 | |||||
18,188 | |||||||
Biotechnology - 2.6% | |||||||
168 | AbbVie, Inc. | 24,822 | |||||
21 | Alnylam Pharmaceuticals, Inc. (a) | 4,754 | |||||
60 | Amgen, Inc. | 15,144 | |||||
15 | Apellis Pharmaceuticals, Inc. (a) | 791 | |||||
18 | Arrowhead Pharmaceuticals, Inc. (a) | 630 | |||||
6 | Biogen, Inc. (a) | 1,745 | |||||
6 | Biohaven Ltd. ADR (a)(c) | 115 | |||||
30 | BioMarin Pharmaceutical, Inc. (a) | 3,461 | |||||
12 | CRISPR Therapeutics AG ADR (a)(c) | 612 | |||||
15 | Denali Therapeutics, Inc. (a) | 454 | |||||
30 | Exact Sciences Corp. (a) | 2,026 | |||||
51 | Exelixis, Inc. (a) | 899 | |||||
15 | Fate Therapeutics, Inc. (a) | 89 | |||||
24 | Halozyme Therapeutics, Inc. (a) | 1,242 | |||||
39 | Horizon Therapeutics PLC ADR (a)(c) | 4,279 | |||||
30 | Incyte Corp. (a) | 2,554 | |||||
12 | Intellia Therapeutics, Inc. (a) | 509 | |||||
21 | Ionis Pharmaceuticals, Inc. (a) | 837 | |||||
9 | Mirati Therapeutics, Inc. (a) | 481 | |||||
39 | Moderna, Inc. (a) | 6,866 | |||||
15 | Natera, Inc. (a) | 644 | |||||
15 | Neurocrine Biosciences, Inc. (a) | 1,664 | |||||
12 | Novavax, Inc. (a)(d) | 131 |
The accompanying notes are an integral part of these financial statements.
43
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
15 | Regeneron Pharmaceuticals, Inc. (a) | $ | 11,377 | ||||
6 | Sarepta Therapeutics, Inc. (a) | 750 | |||||
24 | Seagen, Inc. (a) | 3,348 | |||||
12 | Ultragenyx Pharmaceutical, Inc. (a) | 544 | |||||
3 | United Therapeutics Corp. (a) | 790 | |||||
42 | Vertex Pharmaceuticals, Inc. (a) | 13,570 | |||||
105,128 | |||||||
Brewers - 0.0% (b) | |||||||
3 | Boston Beer Co., Inc. - Class A (a) | 1,166 | |||||
Broadcasting - 0.0% (b) | |||||||
3 | Nexstar Media Group, Inc. | 614 | |||||
Building Products - 0.5% | |||||||
12 | A.O. Smith Corp. | 812 | |||||
12 | Advanced Drainage Systems, Inc. | 1,210 | |||||
12 | Allegion PLC ADR (c) | 1,411 | |||||
6 | Armstrong World Industries, Inc. | 464 | |||||
9 | Carlisle Cos., Inc. | 2,258 | |||||
75 | Carrier Global Corp. | 3,415 | |||||
3 | Fortune Brands Innovations, Inc. | 194 | |||||
39 | Johnson Controls International PLC ADR (c) | 2,713 | |||||
3 | Lennox International, Inc. | 782 | |||||
18 | Masco Corp. | 958 | |||||
3 | Masterbrand, Inc. (a) | 28 | |||||
21 | Trane Technologies PLC ADR (c) | 3,762 | |||||
18 | Trex Co., Inc. (a) | 949 | |||||
18,956 | |||||||
Cable & Satellite - 0.2% | |||||||
18 | Charter Communications, Inc. - Class A (a) | 6,918 | |||||
3 | Liberty Broadband Corp. - Class A (a) | 269 | |||||
21 | Liberty Broadband Corp. - Class C (a) | 1,885 | |||||
45 | Sirius XM Holdings, Inc. | 261 | |||||
9,333 | |||||||
Casinos & Gaming - 0.1% | |||||||
12 | Boyd Gaming Corp. | 748 | |||||
6 | Churchill Downs, Inc. | 1,489 | |||||
60 | DraftKings, Inc. - Class A (a) | 899 | |||||
3,136 | |||||||
Commodity Chemicals - 0.0% (b) | |||||||
12 | Olin Corp. | 775 | |||||
Communications Equipment - 0.6% | |||||||
39 | Arista Networks, Inc. (a) | 4,915 | |||||
24 | Ciena Corp. (a) | 1,248 | |||||
189 | Cisco Systems, Inc. | 9,199 | |||||
9 | F5, Inc. (a) | 1,329 | |||||
9 | Juniper Networks, Inc. | 291 |
The accompanying notes are an integral part of these financial statements.
44
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
9 | Lumentum Holdings, Inc. (a) | $ | 542 | ||||
24 | Motorola Solutions, Inc. | 6,168 | |||||
23,692 | |||||||
Computer & Electronics Retail - 0.0% (b) | |||||||
15 | GameStop Corp. - Class A (a)(d) | 328 | |||||
Construction Machinery & Heavy Trucks - 0.2% | |||||||
33 | Caterpillar, Inc. | 8,326 | |||||
6 | Westinghouse Air Brake Technologies Corp. | 623 | |||||
8,949 | |||||||
Construction Materials - 0.2% | |||||||
3 | Eagle Materials, Inc. | 438 | |||||
9 | Martin Marietta Materials, Inc. | 3,237 | |||||
21 | Vulcan Materials Co. | 3,850 | |||||
7,525 | |||||||
Construction & Engineering - 0.2% | |||||||
9 | AECOM | 785 | |||||
3 | EMCOR Group, Inc. | 445 | |||||
24 | Quanta Services, Inc. | 3,653 | |||||
36 | WillScot Mobile Mini Holdings Corp. (a) | 1,745 | |||||
6,628 | |||||||
Consumer Electronics - 0.0% (b) | |||||||
18 | Garmin Ltd. ADR (c) | 1,780 | |||||
Consumer Finance - 0.2% | |||||||
42 | American Express Co. | 7,347 | |||||
6 | SLM Corp. | 105 | |||||
7,452 | |||||||
Data Processing & Outsourced Services - 4.7% | |||||||
30 | Affirm Holdings, Inc. (a) | 486 | |||||
69 | Automatic Data Processing, Inc. | 15,581 | |||||
84 | Block, Inc. (a) | 6,864 | |||||
18 | Broadridge Financial Solutions, Inc. | 2,706 | |||||
3 | Concentrix Corp. | 425 | |||||
6 | Euronet Worldwide, Inc. (a) | 676 | |||||
12 | Fidelity National Information Services, Inc. | 900 | |||||
99 | Fiserv, Inc. (a) | 10,561 | |||||
12 | FleetCor Technologies, Inc. (a) | 2,506 | |||||
27 | Genpact Ltd. ADR (c) | 1,277 | |||||
24 | Global Payments, Inc. | 2,705 | |||||
12 | Jack Henry & Associates, Inc. | 2,161 | |||||
144 | Mastercard, Inc. - Class A | 53,366 | |||||
3 | Maximus, Inc. | 225 | |||||
54 | Paychex, Inc. | 6,256 | |||||
192 | PayPal Holdings, Inc. (a) | 15,646 | |||||
30 | SS&C Technologies Holdings, Inc. | 1,811 | |||||
39 | Toast, Inc. - Class A (a) | 870 | |||||
273 | Visa, Inc. - Class A | 62,847 |
The accompanying notes are an integral part of these financial statements.
45
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
6 | WEX, Inc. (a) | $ | 1,110 | ||||
188,979 | |||||||
Distillers & Vintners - 0.2% | |||||||
51 | Brown-Forman Corp. - Class B | 3,396 | |||||
18 | Constellation Brands, Inc. - Class A | 4,167 | |||||
7,563 | |||||||
Distributors - 0.1% | |||||||
6 | Genuine Parts Co. | 1,007 | |||||
9 | LKQ Corp. | 531 | |||||
6 | Pool Corp. | 2,314 | |||||
3,852 | |||||||
Diversified Support Services - 0.3% | |||||||
15 | Cintas Corp. | 6,656 | |||||
72 | Copart, Inc. (a) | 4,796 | |||||
18 | IAA, Inc. (a) | 751 | |||||
12,203 | |||||||
Education Services - 0.0% (b) | |||||||
6 | Bright Horizons Family Solutions, Inc. (a) | 461 | |||||
Electric Utilities - 0.7% | |||||||
15 | Alliant Energy Corp. | 810 | |||||
9 | American Electric Power Co., Inc. | 846 | |||||
48 | Constellation Energy Corp. | 4,097 | |||||
3 | Evergy, Inc. | 188 | |||||
18 | Eversource Energy | 1,482 | |||||
3 | IDACORP, Inc. | 317 | |||||
252 | NextEra Energy, Inc. | 18,807 | |||||
3 | PNM Resources, Inc. | 148 | |||||
15 | Southern Co. | 1,015 | |||||
33 | Xcel Energy, Inc. | 2,269 | |||||
29,979 | |||||||
Electrical Components & Equipment - 0.6% | |||||||
3 | Acuity Brands, Inc. | 566 | |||||
36 | AMETEK, Inc. | 5,217 | |||||
30 | ChargePoint Holdings, Inc. (a)(d) | 364 | |||||
30 | Eaton Corp. PLC ADR (c) | 4,866 | |||||
54 | Emerson Electric Co. | 4,872 | |||||
9 | Generac Holdings, Inc. (a) | 1,085 | |||||
6 | Hubbell, Inc. | 1,373 | |||||
96 | Plug Power, Inc. (a) | 1,634 | |||||
15 | Rockwell Automation, Inc. | 4,230 | |||||
9 | Sensata Technologies Holding PLC ADR (c) | 458 | |||||
51 | Vertiv Holdings Co. | 725 | |||||
25,390 | |||||||
Electronic Components - 0.2% | |||||||
99 | Amphenol Corp. - Class A | 7,897 | |||||
18 | Coherent Corp. (a) | 781 | |||||
15 | Corning, Inc. | 519 |
The accompanying notes are an integral part of these financial statements.
46
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
3 | Littelfuse, Inc. | $ | 770 | ||||
9,967 | |||||||
Electronic Equipment & Instruments - 0.4% | |||||||
27 | Cognex Corp. | 1,478 | |||||
30 | Keysight Technologies, Inc. (a) | 5,381 | |||||
9 | National Instruments Corp. | 486 | |||||
9 | Teledyne Technologies, Inc. (a) | 3,818 | |||||
42 | Trimble, Inc. (a) | 2,439 | |||||
3 | Vontier Corp. | 69 | |||||
9 | Zebra Technologies Corp. - Class A (a) | 2,846 | |||||
16,517 | |||||||
Environmental & Facilities Services - 0.4% | |||||||
6 | Clean Harbors, Inc. (a) | 782 | |||||
30 | Republic Services, Inc. | 3,745 | |||||
39 | Rollins, Inc. | 1,420 | |||||
9 | Tetra Tech, Inc. | 1,400 | |||||
66 | Waste Management, Inc. | 10,212 | |||||
17,559 | |||||||
Fertilizers & Agricultural Chemicals - 0.2% | |||||||
15 | C.F. Industries Holdings, Inc. | 1,271 | |||||
81 | Corteva, Inc. | 5,220 | |||||
15 | FMC Corp. | 1,997 | |||||
8,488 | |||||||
Financial Exchanges & Data - 1.5% | |||||||
15 | Cboe Global Markets, Inc. | 1,843 | |||||
33 | CME Group, Inc. | 5,830 | |||||
6 | FactSet Research Systems, Inc. | 2,538 | |||||
75 | Intercontinental Exchange, Inc. | 8,066 | |||||
6 | MarketAxess Holdings, Inc. | 2,183 | |||||
27 | Moody’s Corp. | 8,714 | |||||
3 | Morningstar, Inc. | 729 | |||||
12 | MSCI, Inc. | 6,379 | |||||
54 | Nasdaq, Inc. | 3,250 | |||||
57 | S&P Global, Inc. | 21,372 | |||||
18 | Tradeweb Markets, Inc. - Class A | 1,342 | |||||
62,246 | |||||||
Food Distributors - 0.1% | |||||||
36 | Sysco Corp. | 2,789 | |||||
24 | U.S. Foods Holding Corp. (a) | 915 | |||||
3,704 | |||||||
Food Retail - 0.0% (b) | |||||||
3 | Casey’s General Stores, Inc. | 708 | |||||
Footwear - 0.7% | |||||||
3 | Deckers Outdoor Corp. (a) | 1,282 | |||||
210 | Nike, Inc. - Class B | 26,739 | |||||
27 | On Holding AG - Class A ADR (a)(c) | 626 | |||||
3 | Skechers USA, Inc. - Class A (a) | 144 | |||||
28,791 |
The accompanying notes are an integral part of these financial statements.
47
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Gas Utilities - 0.0% (b) | |||||||
6 | Atmos Energy Corp. | $ | 705 | ||||
General Merchandise Stores - 0.5% | |||||||
39 | Dollar General Corp. | 9,110 | |||||
33 | Dollar Tree, Inc. (a) | 4,956 | |||||
27 | Target Corp. | 4,648 | |||||
18,714 | |||||||
Gold - 0.1% | |||||||
30 | Newmont Corp. | 1,588 | |||||
9 | Royal Gold, Inc. | 1,143 | |||||
2,731 | |||||||
Health Care Distributors - 0.0% (b) | |||||||
12 | Henry Schein, Inc. (a) | 1,034 | |||||
Health Care Equipment - 3.4% | |||||||
291 | Abbott Laboratories | 32,170 | |||||
54 | Baxter International, Inc. | 2,467 | |||||
33 | Becton Dickinson and Co. | 8,323 | |||||
237 | Boston Scientific Corp. (a) | 10,961 | |||||
66 | Dexcom, Inc. (a) | 7,068 | |||||
102 | Edwards Lifesciences Corp. (a) | 7,823 | |||||
21 | Envista Holdings Corp. (a) | 819 | |||||
12 | Globus Medical, Inc. - Class A (a) | 906 | |||||
36 | Hologic, Inc. (a) | 2,929 | |||||
15 | IDEXX Laboratories, Inc. (a) | 7,208 | |||||
12 | Insulet Corp. (a) | 3,448 | |||||
9 | Integra LifeSciences Holdings Corp. (a) | 516 | |||||
60 | Intuitive Surgical, Inc. (a) | 14,741 | |||||
9 | Masimo Corp. (a) | 1,531 | |||||
69 | Medtronic PLC ADR (c) | 5,775 | |||||
15 | Novocure Ltd. ADR (a)(c) | 1,368 | |||||
6 | Penumbra, Inc. (a) | 1,502 | |||||
9 | QuidelOrtho Corp. (a) | 770 | |||||
24 | ResMed, Inc. | 5,481 | |||||
6 | Shockwave Medical, Inc. (a) | 1,128 | |||||
18 | Steris PLC ADR (c) | 3,717 | |||||
51 | Stryker Corp. | 12,944 | |||||
12 | Tandem Diabetes Care, Inc. (a) | 489 | |||||
6 | Teleflex, Inc. | 1,461 | |||||
9 | Zimmer Biomet Holdings, Inc. | 1,146 | |||||
136,691 | |||||||
Health Care Facilities - 0.0% (b) | |||||||
9 | Acadia Healthcare Co., Inc. (a) | 756 | |||||
Health Care Services - 0.3% | |||||||
33 | agilon health, Inc. (a) | 718 | |||||
6 | Amedisys, Inc. (a) | 580 |
The accompanying notes are an integral part of these financial statements.
48
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
3 | Chemed Corp. | $ | 1,515 | ||||
9 | Cigna Corp. | 2,850 | |||||
15 | Guardant Health, Inc. (a) | 471 | |||||
6 | Laboratory Corp. of America Holdings | 1,513 | |||||
6 | LHC Group, Inc. (a) | 952 | |||||
18 | Oak Street Health, Inc. (a) | 523 | |||||
24 | Option Care Health, Inc. (a) | 693 | |||||
3 | Quest Diagnostics, Inc. | 445 | |||||
48 | R1 RCM, Inc. (a) | 687 | |||||
10,947 | |||||||
Health Care Supplies - 0.2% | |||||||
12 | Align Technology, Inc. (a) | 3,237 | |||||
9 | Cooper Cos., Inc. | 3,140 | |||||
6 | Dentsply Sirona, Inc. | 221 | |||||
3 | ICU Medical, Inc. (a) | 580 | |||||
7,178 | |||||||
Health Care Technology - 0.1% | |||||||
15 | Doximity, Inc. - Class A (a) | 529 | |||||
15 | Teladoc Health, Inc. (a) | 441 | |||||
24 | Veeva Systems, Inc. - Class A (a) | 4,093 | |||||
5,063 | |||||||
Home Improvement Retail - 1.4% | |||||||
18 | Floor & Decor Holdings, Inc. - Class A (a) | 1,634 | |||||
114 | Home Depot, Inc. | 36,955 | |||||
78 | Lowe’s Cos., Inc. | 16,243 | |||||
54,832 | |||||||
Homebuilding - 0.0% (b) | |||||||
6 | TopBuild Corp. (a) | 1,200 | |||||
Homefurnishing Retail - 0.0% (b) | |||||||
3 | RH (a) | 936 | |||||
Hotels, Resorts & Cruise Lines - 0.9% | |||||||
57 | Airbnb, Inc. - Class A (a) | 6,333 | |||||
6 | Booking Holdings, Inc. (a) | 14,605 | |||||
6 | Choice Hotels International, Inc. | 737 | |||||
45 | Hilton Worldwide Holdings, Inc. | 6,529 | |||||
6 | Hyatt Hotels Corp. - Class A (a) | 655 | |||||
48 | Marriott International, Inc. - Class A | 8,361 | |||||
6 | Wyndham Hotels & Resorts, Inc. | 465 | |||||
37,685 | |||||||
Household Products - 1.6% | |||||||
39 | Church & Dwight Co., Inc. | 3,154 | |||||
12 | Clorox Co. | 1,736 | |||||
117 | Colgate-Palmolive Co. | 8,720 | |||||
33 | Kimberly-Clark Corp. | 4,290 | |||||
330 | Procter & Gamble Co. | 46,985 | |||||
3 | Reynolds Consumer Products, Inc. | 89 | |||||
64,974 |
The accompanying notes are an integral part of these financial statements.
49
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Human Resource & Employment Services - 0.0% (b) | |||||||
3 | Robert Half International, Inc. | $ | 252 | ||||
6 | TriNet Group, Inc. (a) | 453 | |||||
705 | |||||||
Hypermarkets & Super Centers - 1.2% | |||||||
12 | BJ’s Wholesale Club Holdings, Inc. (a) | 870 | |||||
75 | Costco Wholesale Corp. | 38,335 | |||||
72 | Walmart, Inc. | 10,359 | |||||
49,564 | |||||||
Independent Power Producers & Energy Traders - 0.0% (b) | |||||||
33 | Vistra Corp. | 761 | |||||
Industrial Conglomerates - 0.4% | |||||||
72 | Honeywell International, Inc. | 15,011 | |||||
Industrial Gases - 0.2% | |||||||
27 | Air Products and Chemicals, Inc. | 8,654 | |||||
Industrial Machinery - 0.9% | |||||||
6 | Chart Industries, Inc. (a) | 804 | |||||
15 | Donaldson Co., Inc. | 935 | |||||
15 | Dover Corp. | 2,277 | |||||
3 | Flowserve Corp. | 103 | |||||
21 | Fortive Corp. | 1,429 | |||||
27 | Graco, Inc. | 1,845 | |||||
12 | IDEX Corp. | 2,876 | |||||
33 | Illinois Tool Works, Inc. | 7,789 | |||||
60 | Ingersoll Rand, Inc. | 3,360 | |||||
6 | ITT, Inc. | 550 | |||||
6 | Lincoln Electric Holdings, Inc. | 1,001 | |||||
6 | Middleby Corp. (a) | 933 | |||||
9 | Nordson Corp. | 2,190 | |||||
51 | Otis Worldwide Corp. | 4,194 | |||||
9 | Parker-Hannifin Corp. | 2,934 | |||||
12 | Pentair PLC ADR (c) | 665 | |||||
3 | RBC Bearings, Inc. (a) | 732 | |||||
24 | Xylem, Inc. | 2,496 | |||||
37,113 | |||||||
Insurance Brokers - 0.9% | |||||||
33 | Aon PLC - Class A ADR (c) | 10,516 | |||||
33 | Arthur J. Gallagher & Co. | 6,459 | |||||
39 | Brown & Brown, Inc. | 2,284 | |||||
84 | Marsh & McLennan Cos., Inc. | 14,692 | |||||
15 | Ryan Specialty Holdings, Inc. (a) | 639 | |||||
34,590 | |||||||
Interactive Home Entertainment - 0.5% | |||||||
120 | Activision Blizzard, Inc. | 9,188 | |||||
45 | Electronic Arts, Inc. | 5,791 |
The accompanying notes are an integral part of these financial statements.
50
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
18 | Playtika Holding Corp. (a) | $ | 189 | ||||
51 | Roblox Corp. - Class A (a) | 1,898 | |||||
27 | Take-Two Interactive Software, Inc. (a) | 3,057 | |||||
20,123 | |||||||
Interactive Media & Services - 6.2% | |||||||
999 | Alphabet, Inc. - Class A (a) | 98,741 | |||||
876 | Alphabet, Inc. - Class C (a) | 87,486 | |||||
15 | Bumble, Inc. - Class A (a) | 386 | |||||
6 | IAC, Inc. (a) | 339 | |||||
27 | Match Group, Inc. (a) | 1,461 | |||||
369 | Meta Platforms, Inc. - Class A (a) | 54,970 | |||||
96 | Pinterest, Inc. - Class A (a) | 2,524 | |||||
171 | Snap, Inc. - Class A (a) | 1,977 | |||||
3 | Ziff Davis, Inc. (a) | 268 | |||||
45 | ZoomInfo Technologies, Inc. (a) | 1,270 | |||||
249,422 | |||||||
Internet & Direct Marketing Retail - 4.0% | |||||||
1,479 | Amazon.com, Inc. (a) | 152,529 | |||||
15 | Chewy, Inc. - Class A (a) | 676 | |||||
51 | DoorDash, Inc. - Class A (a) | 2,954 | |||||
45 | eBay, Inc. | 2,228 | |||||
21 | Etsy, Inc. (a) | 2,889 | |||||
12 | Wayfair, Inc. - Class A (a) | 726 | |||||
162,002 | |||||||
Internet Services & Infrastructure - 0.6% | |||||||
27 | Akamai Technologies, Inc. (a) | 2,402 | |||||
42 | Cloudflare, Inc. - Class A (a) | 2,222 | |||||
27 | GoDaddy, Inc. - Class A (a) | 2,218 | |||||
12 | MongoDB, Inc. (a) | 2,571 | |||||
24 | Okta, Inc. (a) | 1,767 | |||||
45 | Snowflake, Inc. - Class A (a) | 7,040 | |||||
27 | Twilio, Inc. - Class A (a) | 1,616 | |||||
15 | VeriSign, Inc. (a) | 3,271 | |||||
23,107 | |||||||
Investment Banking & Brokerage - 0.5% | |||||||
216 | Charles Schwab Corp. | 16,723 | |||||
6 | Houlihan Lokey, Inc. | 594 | |||||
12 | LPL Financial Holdings, Inc. | 2,845 | |||||
20,162 | |||||||
IT Consulting & Other Services - 1.1% | |||||||
111 | Accenture PLC - Class A ADR (c) | 30,975 | |||||
12 | Amdocs Ltd. ADR (c) | 1,103 | |||||
36 | Cognizant Technology Solutions Corp. - Class A | 2,403 | |||||
9 | EPAM Systems, Inc. (a) | 2,994 | |||||
12 | Gartner, Inc. (a) | 4,058 | |||||
6 | Globant S.A. ADR (a)(c) | 973 | |||||
42,506 |
The accompanying notes are an integral part of these financial statements.
51
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Leisure Facilities - 0.1% | |||||||
15 | Planet Fitness, Inc. - Class A (a) | $ | 1,270 | ||||
6 | Vail Resorts, Inc. | 1,574 | |||||
2,844 | |||||||
Leisure Products - 0.1% | |||||||
6 | Hasbro, Inc. | 355 | |||||
60 | Mattel, Inc. (a) | 1,228 | |||||
3 | Polaris, Inc. | 345 | |||||
15 | YETI Holdings, Inc. (a) | 671 | |||||
2,599 | |||||||
Life Sciences Tools & Services - 2.9% | |||||||
15 | 10X Genomics, Inc. - Class A (a) | 702 | |||||
51 | Agilent Technologies, Inc. | 7,756 | |||||
102 | Avantor, Inc. (a) | 2,438 | |||||
3 | Bio-Rad Laboratories, Inc. - Class A (a) | 1,402 | |||||
24 | Bio-Techne Corp. | 1,912 | |||||
18 | Bruker Corp. | 1,262 | |||||
9 | Charles River Laboratories International, Inc. (a) | 2,189 | |||||
111 | Danaher Corp. | 29,346 | |||||
15 | ICON PLC ADR (a)(c) | 3,461 | |||||
24 | Illumina, Inc. (a) | 5,141 | |||||
30 | IQVIA Holdings, Inc. (a) | 6,882 | |||||
12 | Maravai LifeSciences Holdings, Inc. - Class A (a) | 176 | |||||
3 | Mettler-Toledo International, Inc. (a) | 4,599 | |||||
21 | PerkinElmer, Inc. | 2,888 | |||||
39 | QIAGEN N.V. ADR (a)(c) | 1,911 | |||||
9 | Repligen Corp. (a) | 1,668 | |||||
15 | Sotera Health Co. (a) | 259 | |||||
15 | Syneos Health, Inc. (a) | 539 | |||||
66 | Thermo Fisher Scientific, Inc. | 37,642 | |||||
9 | Waters Corp. (a) | 2,957 | |||||
12 | West Pharmaceutical Services, Inc. | 3,187 | |||||
118,317 | |||||||
Managed Health Care - 2.6% | |||||||
9 | Centene Corp. (a) | 686 | |||||
27 | Elevance Health, Inc. | 13,500 | |||||
15 | HealthEquity, Inc. (a) | 913 | |||||
18 | Humana, Inc. | 9,211 | |||||
6 | Molina Healthcare, Inc. (a) | 1,871 | |||||
156 | UnitedHealth Group, Inc. | 77,874 | |||||
104,055 | |||||||
Metal & Glass Containers - 0.1% | |||||||
6 | AptarGroup, Inc. | 694 | |||||
48 | Ball Corp. | 2,796 | |||||
9 | Crown Holdings, Inc. | 793 | |||||
4,283 |
The accompanying notes are an integral part of these financial statements.
52
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Movies & Entertainment - 1.3% | |||||||
21 | Endeavor Group Holdings, Inc. - Class A (a) | $ | 471 | ||||
3 | Liberty Media Corp. - Liberty Formula One - Class A (a) | 191 | |||||
18 | Liberty Media Corp. - Liberty Formula One - Class C (a) | 1,274 | |||||
72 | Netflix, Inc. (a) | 25,478 | |||||
21 | Roku, Inc. (a) | 1,208 | |||||
18 | Spotify Technology S.A. ADR (a)(c) | 2,029 | |||||
195 | Walt Disney Co. (a) | 21,156 | |||||
21 | Warner Music Group Corp. - Class A | 765 | |||||
52,572 | |||||||
Multi-line Insurance - 0.0% (b) | |||||||
3 | Assurant, Inc. | 398 | |||||
Multi-Sector Holdings - 1.1% | |||||||
141 | Berkshire Hathaway, Inc. - Class B (a) | 43,924 | |||||
Multi-Utilities - 0.2% | |||||||
15 | Ameren Corp. | 1,303 | |||||
21 | CMS Energy Corp. | 1,327 | |||||
24 | Dominion Energy, Inc. | 1,527 | |||||
3 | DTE Energy Co. | 349 | |||||
15 | Public Service Enterprise Group, Inc. | 929 | |||||
9 | Sempra Energy | 1,443 | |||||
24 | WEC Energy Group, Inc. | 2,256 | |||||
9,134 | |||||||
Office Services & Supplies - 0.0% (b) | |||||||
6 | MSA Safety, Inc. | 818 | |||||
Oil & Gas Equipment & Services - 0.2% | |||||||
27 | Baker Hughes Co. | 857 | |||||
75 | Halliburton Co. | 3,092 | |||||
57 | NOV, Inc. | 1,393 | |||||
81 | Schlumberger Ltd. ADR (c) | 4,615 | |||||
9,957 | |||||||
Oil & Gas Exploration & Production - 0.2% | |||||||
9 | Chesapeake Energy Corp. | 780 | |||||
48 | Hess Corp. | 7,208 | |||||
3 | Matador Resources Co. | 198 | |||||
8,186 | |||||||
Oil & Gas Storage & Transportation - 0.2% | |||||||
24 | Cheniere Energy, Inc. | 3,667 | |||||
9 | New Fortress Energy, Inc. | 349 | |||||
36 | Targa Resources Corp. | 2,701 | |||||
6,717 | |||||||
Other Diversified Financial Services - 0.1% | |||||||
48 | Apollo Global Management, Inc. | 3,397 | |||||
6 | Corebridge Financial, Inc. | 131 | |||||
3,528 |
The accompanying notes are an integral part of these financial statements.
53
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Packaged Foods & Meats - 0.6% | |||||||
9 | Campbell Soup Co. | $ | 467 | ||||
12 | Flowers Foods, Inc. | 332 | |||||
45 | General Mills, Inc. | 3,526 | |||||
24 | Hershey Co. | 5,390 | |||||
30 | Hormel Foods Corp. | 1,359 | |||||
12 | Kellogg Co. | 823 | |||||
21 | Lamb Weston Holdings, Inc. | 2,098 | |||||
3 | Lancaster Colony Corp. | 576 | |||||
33 | McCormick & Co., Inc. | 2,479 | |||||
135 | Mondelez International, Inc. - Class A | 8,834 | |||||
3 | Post Holdings, Inc. (a) | 285 | |||||
26,169 | |||||||
Paper Packaging - 0.1% | |||||||
45 | Amcor PLC ADR (c) | 543 | |||||
9 | Avery Dennison Corp. | 1,705 | |||||
24 | Graphic Packaging Holding Co. | 578 | |||||
18 | Sealed Air Corp. | 986 | |||||
3 | Sonoco Products Co. | 183 | |||||
3,995 | |||||||
Personal Products - 0.3% | |||||||
15 | BellRing Brands, Inc. (a) | 425 | |||||
36 | Estee Lauder Cos., Inc. - Class A | 9,975 | |||||
15 | Olaplex Holdings, Inc. (a) | 95 | |||||
10,495 | |||||||
Pharmaceuticals - 4.0% | |||||||
186 | Bristol-Myers Squibb Co. | 13,513 | |||||
27 | Catalent, Inc. (a) | 1,446 | |||||
57 | Elanco Animal Health, Inc. (a) | 783 | |||||
141 | Eli Lilly & Co. | 48,525 | |||||
9 | Jazz Pharmaceuticals PLC ADR (a)(c) | 1,410 | |||||
288 | Johnson & Johnson | 47,065 | |||||
225 | Merck & Co., Inc. | 24,167 | |||||
231 | Pfizer, Inc. | 10,201 | |||||
48 | Royalty Pharma PLC - Class A ADR (c) | 1,881 | |||||
72 | Zoetis, Inc. | 11,915 | |||||
160,906 | |||||||
Property & Casualty Insurance - 0.6% | |||||||
21 | Arch Capital Group Ltd. ADR (a)(c) | 1,351 | |||||
6 | Chubb Ltd. ADR (c) | 1,365 | |||||
15 | Cincinnati Financial Corp. | 1,697 | |||||
3 | Erie Indemnity Co. - Class A | 733 | |||||
3 | Markel Corp. (a) | 4,227 | |||||
90 | Progressive Corp. | 12,271 | |||||
6 | RLI Corp. | 795 | |||||
3 | Selective Insurance Group, Inc. | 285 | |||||
15 | W.R. Berkley Corp. | 1,052 | |||||
23,776 |
The accompanying notes are an integral part of these financial statements.
54
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Publishing - 0.0% (b) | |||||||
21 | New York Times Co. - Class A | $ | 732 | ||||
6 | News Corp. - Class A | 122 | |||||
3 | News Corp. - Class B | 61 | |||||
915 | |||||||
Railroads - 0.7% | |||||||
270 | CSX Corp. | 8,348 | |||||
24 | Norfolk Southern Corp. | 5,899 | |||||
63 | Union Pacific Corp. | 12,864 | |||||
27,111 | |||||||
Real Estate Development - 0.0% (b) | |||||||
3 | Howard Hughes Corp. (a) | 256 | |||||
Real Estate Services - 0.1% | |||||||
24 | CBRE Group, Inc. - Class A (a) | 2,052 | |||||
6 | Zillow Group, Inc. - Class A (a) | 258 | |||||
27 | Zillow Group, Inc. - Class C (a) | 1,194 | |||||
3,504 | |||||||
Regional Banks - 0.2% | |||||||
9 | Commerce Bancshares, Inc. | 599 | |||||
24 | First Financial Bankshares, Inc. | 855 | |||||
24 | First Republic Bank | 3,381 | |||||
3 | Signature Bank | 387 | |||||
6 | SVB Financial Group (a) | 1,815 | |||||
3 | Western Alliance Bancorp | 226 | |||||
7,263 | |||||||
Reinsurance - 0.0% (b) | |||||||
6 | RenaissanceRe Holdings Ltd. ADR (c) | 1,174 | |||||
Renewable Electricity - 0.0% (b) | |||||||
12 | NextEra Energy Partners LP | 880 | |||||
Research & Consulting Services - 0.7% | |||||||
18 | Booz Allen Hamilton Holding Corp. | 1,704 | |||||
3 | CACI International, Inc. - Class A (a) | 924 | |||||
42 | Clarivate PLC ADR (a)(c) | 467 | |||||
66 | CoStar Group, Inc. (a) | 5,141 | |||||
42 | Dun & Bradstreet Holdings, Inc. | 615 | |||||
21 | Equifax, Inc. | 4,666 | |||||
6 | FTI Consulting, Inc. (a) | 957 | |||||
18 | Jacobs Solutions, Inc. | 2,224 | |||||
18 | KBR, Inc. | 922 | |||||
15 | Leidos Holdings, Inc. | 1,483 | |||||
33 | TransUnion | 2,368 | |||||
27 | Verisk Analytics, Inc. | 4,908 | |||||
26,379 |
The accompanying notes are an integral part of these financial statements.
55
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Restaurants - 1.2% | |||||||
3 | Aramark | $ | 134 | ||||
3 | Chipotle Mexican Grill, Inc. (a) | 4,939 | |||||
3 | Darden Restaurants, Inc. | 444 | |||||
6 | Domino’s Pizza, Inc. | 2,118 | |||||
6 | Dutch Bros, Inc. - Class A (a) | 229 | |||||
81 | McDonald’s Corp. | 21,659 | |||||
132 | Starbucks Corp. | 14,406 | |||||
9 | Texas Roadhouse, Inc. | 904 | |||||
21 | Wendy’s Co. | 468 | |||||
39 | Yum! Brands, Inc. | 5,090 | |||||
50,391 | |||||||
Semiconductor Equipment - 1.1% | |||||||
120 | Applied Materials, Inc. | 13,379 | |||||
21 | Enphase Energy, Inc. (a) | 4,649 | |||||
24 | Entegris, Inc. | 1,937 | |||||
24 | KLA Corp. | 9,420 | |||||
21 | Lam Research Corp. | 10,502 | |||||
3 | MKS Instruments, Inc. | 307 | |||||
9 | SolarEdge Technologies, Inc. (a) | 2,872 | |||||
27 | Teradyne, Inc. | 2,746 | |||||
45,812 | |||||||
Semiconductors - 5.3% | |||||||
270 | Advanced Micro Devices, Inc. (a) | 20,290 | |||||
51 | Analog Devices, Inc. | 8,745 | |||||
60 | Broadcom, Inc. | 35,101 | |||||
9 | Cirrus Logic, Inc. (a) | 814 | |||||
9 | First Solar, Inc. (a) | 1,598 | |||||
12 | GlobalFoundries, Inc. ADR (a)(c)(d) | 711 | |||||
24 | Lattice Semiconductor Corp. (a) | 1,819 | |||||
105 | Marvell Technology, Inc. | 4,531 | |||||
63 | Microchip Technology, Inc. | 4,890 | |||||
6 | Monolithic Power Systems, Inc. | 2,559 | |||||
399 | NVIDIA Corp. | 77,953 | |||||
63 | ON Semiconductor Corp. (a) | 4,627 | |||||
15 | Qorvo, Inc. (a) | 1,630 | |||||
186 | Qualcomm, Inc. | 24,777 | |||||
6 | Silicon Laboratories, Inc. (a) | 941 | |||||
3 | Skyworks Solutions, Inc. | 329 | |||||
6 | Synaptics, Inc. (a) | 750 | |||||
114 | Texas Instruments, Inc. | 20,202 | |||||
6 | Universal Display Corp. | 795 | |||||
21 | Wolfspeed, Inc. (a) | 1,617 | |||||
214,679 | |||||||
Soft Drinks - 1.7% | |||||||
6 | Celsius Holdings, Inc. (a) | 602 | |||||
480 | Coca-Cola Co. | 29,434 | |||||
51 | Keurig Dr. Pepper, Inc. | 1,799 |
The accompanying notes are an integral part of these financial statements.
56
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
63 | Monster Beverage Corp. (a) | $ | 6,557 | ||||
183 | PepsiCo, Inc. | 31,297 | |||||
69,689 | |||||||
Specialized Consumer Services - 0.0% (b) | |||||||
24 | Service Corp. International | 1,780 | |||||
Specialized Finance - 0.0% (b) | |||||||
90 | SoFi Technologies, Inc. (a) | 624 | |||||
Specialty Chemicals - 0.6% | |||||||
18 | Albemarle Corp. | 5,066 | |||||
3 | Ashland, Inc. | 328 | |||||
12 | Axalta Coating Systems Ltd. ADR (a)(c) | 361 | |||||
33 | Ecolab, Inc. | 5,109 | |||||
174 | Ginkgo Bioworks Holdings, Inc. (a) | 339 | |||||
9 | International Flavors & Fragrances, Inc. | 1,012 | |||||
18 | PPG Industries, Inc. | 2,346 | |||||
15 | RPM International, Inc. | 1,349 | |||||
39 | Sherwin-Williams Co. | 9,227 | |||||
25,137 | |||||||
Specialty Stores - 0.3% | |||||||
9 | Five Below, Inc. (a) | 1,774 | |||||
18 | Tractor Supply Co. | 4,104 | |||||
9 | Ulta Beauty, Inc. (a) | 4,626 | |||||
10,504 | |||||||
Systems Software - 9.0% | |||||||
36 | Crowdstrike Holdings, Inc. - Class A (a) | 3,812 | |||||
9 | Dolby Laboratories, Inc. - Class A | 716 | |||||
114 | Fortinet, Inc. (a) | 5,967 | |||||
51 | Gen Digital, Inc. | 1,174 | |||||
9 | Gitlab, Inc. - Class A (a) | 445 | |||||
1,245 | Microsoft Corp. | 308,523 | |||||
3 | Monday.com Ltd. ADR (a)(c) | 391 | |||||
213 | Oracle Corp. | 18,842 | |||||
48 | Palo Alto Networks, Inc. (a) | 7,615 | |||||
33 | SentinelOne, Inc. - Class A (a) | 498 | |||||
33 | ServiceNow, Inc. (a) | 15,019 | |||||
15 | Teradata Corp. (a) | 523 | |||||
42 | UiPath, Inc. - Class A (a) | 645 | |||||
15 | Zscaler, Inc. (a) | 1,862 | |||||
366,032 | |||||||
Technology Distributors - 0.1% | |||||||
21 | CDW Corp. | 4,117 | |||||
Technology Hardware, Storage & Peripherals - 9.1% | |||||||
2,547 | Apple, Inc. | 367,507 | |||||
15 | NetApp, Inc. | 993 | |||||
45 | Pure Storage, Inc. - Class A (a) | 1,302 | |||||
369,802 |
The accompanying notes are an integral part of these financial statements.
57
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Tobacco - 0.0% (b) | |||||||
9 | Philip Morris International, Inc. | $ | 938 | ||||
Trading Companies & Distributors - 0.4% | |||||||
96 | Fastenal Co. | 4,853 | |||||
18 | Ferguson PLC ADR (c) | 2,562 | |||||
6 | SiteOne Landscape Supply, Inc. (a) | 909 | |||||
3 | United Rentals, Inc. (a) | 1,323 | |||||
3 | Watsco, Inc. | 862 | |||||
6 | W.W. Grainger, Inc. | 3,537 | |||||
14,046 | |||||||
Trucking - 0.5% | |||||||
99 | Grab Holdings Ltd. - Class A ADR (a)(c) | 375 | |||||
15 | J.B. Hunt Transport Services, Inc. | 2,836 | |||||
3 | Landstar System, Inc. | 518 | |||||
48 | Lyft, Inc. - Class A (a) | 780 | |||||
18 | Old Dominion Freight Line, Inc. | 5,998 | |||||
3 | Saia, Inc. (a) | 818 | |||||
303 | Uber Technologies, Inc. (a) | 9,372 | |||||
20,697 | |||||||
Water Utilities - 0.1% | |||||||
27 | American Water Works Co., Inc. | 4,225 | |||||
30 | Essential Utilities, Inc. | 1,402 | |||||
5,627 | |||||||
Wireless Telecommunication Services - 0.4% | |||||||
105 | T-Mobile U.S., Inc. (a) | 15,678 | |||||
TOTAL COMMON STOCKS (Cost $3,607,330) | 3,916,550 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 3.1% | |||||||
Diversified REITs - 0.0% (b) | |||||||
3 | W.P. Carey, Inc. | 257 | |||||
Health Care REITs - 0.1% | |||||||
24 | Healthcare Realty Trust, Inc. | 517 | |||||
9 | Healthpeak Properties, Inc. | 247 | |||||
9 | Ventas, Inc. | 466 | |||||
45 | Welltower, Inc. | 3,377 | |||||
4,607 | |||||||
Industrial REITs - 0.6% | |||||||
12 | Americold Realty Trust, Inc. | 377 | |||||
6 | EastGroup Properties, Inc. | 1,009 | |||||
21 | First Industrial Realty Trust, Inc. | 1,120 | |||||
150 | Prologis, Inc. | 19,392 | |||||
30 | Rexford Industrial Realty, Inc. | 1,904 | |||||
18 | STAG Industrial, Inc. | 641 | |||||
24,443 |
The accompanying notes are an integral part of these financial statements.
58
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Office REITs - 0.1% | |||||||
12 | Alexandria Real Estate Equities, Inc. | $ | 1,929 | ||||
18 | Cousins Properties, Inc. | 494 | |||||
2,423 | |||||||
Residential REITs - 0.6% | |||||||
48 | American Homes 4 Rent - Class A | 1,646 | |||||
18 | Apartment Income REIT Corp. | 689 | |||||
15 | AvalonBay Communities, Inc. | 2,662 | |||||
15 | Camden Property Trust | 1,848 | |||||
27 | Equity LifeStyle Properties, Inc. | 1,938 | |||||
36 | Equity Residential | 2,291 | |||||
6 | Essex Property Trust, Inc. | 1,356 | |||||
102 | Invitation Homes, Inc. | 3,315 | |||||
18 | Mid-America Apartment Communities, Inc. | 3,001 | |||||
21 | Sun Communities, Inc. | 3,294 | |||||
39 | UDR, Inc. | 1,661 | |||||
23,701 | |||||||
Retail REITs - 0.1% | |||||||
6 | Agree Realty Corp. | 448 | |||||
3 | Federal Realty Investment Trust | 335 | |||||
3 | National Retail Properties, Inc. | 142 | |||||
39 | Realty Income Corp. | 2,645 | |||||
6 | Regency Centers Corp. | 400 | |||||
3,970 | |||||||
Specialized REITs - 1.6% | |||||||
78 | American Tower Corp. | 17,424 | |||||
72 | Crown Castle, Inc. | 10,664 | |||||
27 | CubeSmart | 1,236 | |||||
36 | Digital Realty Trust, Inc. | 4,126 | |||||
15 | Equinix, Inc. | 11,072 | |||||
21 | Extra Space Storage, Inc. | 3,314 | |||||
27 | Iron Mountain, Inc. | 1,474 | |||||
3 | Lamar Advertising Co. - Class A | 320 | |||||
9 | Life Storage, Inc. | 972 | |||||
15 | National Storage Affiliates Trust | 612 | |||||
24 | Public Storage | 7,304 | |||||
15 | Rayonier, Inc. | 546 | |||||
18 | SBA Communications Corp. | 5,356 | |||||
42 | VICI Properties, Inc. | 1,436 | |||||
65,856 | |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $113,471) | 125,257 | ||||||
RIGHTS - 0.0% (b) | |||||||
Health Care Equipment - 0.0% (b) | |||||||
4 | Abiomed, Inc. (a)(e)(f) | - | |||||
TOTAL RIGHTS (Cost $0) | - |
The accompanying notes are an integral part of these financial statements.
59
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.0% (b) | |||||||
1,453 | First American Government Obligations Fund - Class X, 4.14% (g) | $ | 1,453 | ||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $1,453) | 1,453 | ||||||
MONEY MARKET FUNDS - 0.3% | |||||||
13,553 | First American Government Obligations Fund - Class X, 4.14% (g) | 13,553 | |||||
TOTAL MONEY MARKET FUNDS (Cost $13,553) | 13,553 | ||||||
TOTAL INVESTMENTS (Cost $3,735,807) - 100.0% | $ | 4,056,813 | |||||
Liabilities in Excess of Other Assets - (0.0%) (b) | (414 | ) | |||||
TOTAL NET ASSETS - 100.0% | $ | 4,056,399 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Non-income producing security. | |
(b) | Represents less than 0.05% of net assets. | |
(c) | Foreign issued security. | |
(d) | This security or a portion of this security was out on loan as of January 31, 2023. Total loaned securities had a market value of $1,470 as of January 31, 2023. | |
(e) | Value determined using significant unobservable inputs. | |
(f) | Security is deemed to be illiquid. The total value of illiquid securities represents 0.0% of net assets. | |
(g) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
60
Strive 1000 Value ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 96.3% | |||||||
Advertising - 0.2% | |||||||
76 | Interpublic Group of Cos., Inc. | $ | 2,771 | ||||
40 | Omnicom Group, Inc. | 3,440 | |||||
6,211 | |||||||
Aerospace & Defense - 2.4% | |||||||
40 | Boeing Co. (a) | 8,520 | |||||
4 | BWX Technologies, Inc. | 243 | |||||
2 | Curtiss-Wright Corp. | 332 | |||||
30 | General Dynamics Corp. | 6,992 | |||||
44 | Howmet Aerospace, Inc. | 1,790 | |||||
4 | Huntington Ingalls Industries, Inc. | 882 | |||||
6 | L3Harris Technologies, Inc. | 1,289 | |||||
24 | Lockheed Martin Corp. | 11,118 | |||||
2 | Northrop Grumman Corp. | 896 | |||||
290 | Raytheon Technologies Corp. | 28,956 | |||||
36 | Textron, Inc. | 2,623 | |||||
4 | Woodward, Inc. | 409 | |||||
64,050 | |||||||
Agricultural & Farm Machinery - 0.2% | |||||||
12 | AGCO Corp. | 1,658 | |||||
10 | Deere & Co. | 4,228 | |||||
2 | Toro Co. | 223 | |||||
6,109 | |||||||
Agricultural Products - 0.5% | |||||||
108 | Archer-Daniels-Midland Co. | 8,948 | |||||
30 | Bunge Ltd. ADR (b) | 2,973 | |||||
4 | Darling Ingredients, Inc. (a) | 265 | |||||
12 | Ingredion, Inc. | 1,234 | |||||
13,420 | |||||||
Air Freight & Logistics - 0.9% | |||||||
14 | C.H. Robinson Worldwide, Inc. | 1,402 | |||||
6 | Expeditors International of Washington, Inc. | 649 | |||||
48 | FedEx Corp. | 9,305 | |||||
12 | GXO Logistics, Inc. (a) | 628 | |||||
68 | United Parcel Service, Inc. - Class B | 12,596 | |||||
24,580 | |||||||
Airlines - 0.1% | |||||||
6 | Alaska Air Group, Inc. (a) | 308 | |||||
32 | American Airlines Group, Inc. (a) | 516 | |||||
26 | Delta Air Lines, Inc. (a) | 1,017 | |||||
28 | Southwest Airlines Co. | 1,002 | |||||
16 | United Airlines Holdings, Inc. (a) | 783 | |||||
3,626 | |||||||
Alternative Carriers - 0.0% (c) | |||||||
200 | Lumen Technologies, Inc. | 1,050 |
The accompanying notes are an integral part of these financial statements.
61
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Aluminum - 0.1% | |||||||
36 | Alcoa Corp. | $ | 1,881 | ||||
Apparel Retail - 0.4% | |||||||
2 | Burlington Stores, Inc. (a) | 460 | |||||
52 | Gap, Inc. | 706 | |||||
28 | Ross Stores, Inc. | 3,309 | |||||
64 | TJX Cos., Inc. | 5,239 | |||||
9,714 | |||||||
Apparel, Accessories & Luxury Goods - 0.4% | |||||||
28 | Capri Holdings Ltd. ADR (a)(b) | 1,862 | |||||
4 | Columbia Sportswear Co. | 384 | |||||
68 | Hanesbrands, Inc. | 574 | |||||
18 | Levi Strauss & Co. - Class A | 331 | |||||
14 | PVH Corp. | 1,259 | |||||
8 | Ralph Lauren Corp. | 991 | |||||
50 | Tapestry, Inc. | 2,278 | |||||
12 | Under Armour, Inc. - Class A (a) | 149 | |||||
14 | Under Armour, Inc. - Class C (a) | 153 | |||||
68 | VF Corp. | 2,104 | |||||
10,085 | |||||||
Application Software - 0.0% (c) | |||||||
28 | CCC Intelligent Solutions Holdings, Inc. (a) | 259 | |||||
10 | Guidewire Software, Inc. (a) | 732 | |||||
54 | Pagaya Technologies Ltd. - Class A ADR (a)(b) | 58 | |||||
1,049 | |||||||
Asset Management & Custody Banks - 1.8% | |||||||
8 | Affiliated Managers Group, Inc. | 1,382 | |||||
22 | Ameriprise Financial, Inc. | 7,703 | |||||
144 | Bank of New York Mellon Corp. | 7,282 | |||||
14 | BlackRock, Inc. | 10,629 | |||||
8 | Blue Owl Capital, Inc. | 101 | |||||
50 | Carlyle Group, Inc. | 1,799 | |||||
58 | Franklin Resources, Inc. | 1,810 | |||||
88 | Invesco Ltd. ADR (b) | 1,629 | |||||
40 | Northern Trust Corp. | 3,879 | |||||
10 | SEI Investments Co. | 624 | |||||
68 | State Street Corp. | 6,210 | |||||
44 | T. Rowe Price Group, Inc. | 5,125 | |||||
4 | TPG, Inc. | 129 | |||||
48,302 | |||||||
Auto Parts & Equipment - 0.2% | |||||||
14 | Aptiv PLC ADR (a)(b) | 1,583 | |||||
48 | BorgWarner, Inc. | 2,269 | |||||
16 | Gentex Corp. | 472 | |||||
12 | Lear Corp. | 1,749 | |||||
6,073 |
The accompanying notes are an integral part of these financial statements.
62
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Automobile Manufacturers - 0.9% | |||||||
778 | Ford Motor Co. | $ | 10,511 | ||||
260 | General Motors Co. | 10,223 | |||||
48 | Lucid Group, Inc. (a) | 561 | |||||
10 | Thor Industries, Inc. | 953 | |||||
22,248 | |||||||
Automotive Retail - 0.3% | |||||||
8 | Advance Auto Parts, Inc. | 1,218 | |||||
8 | AutoNation, Inc. (a) | 1,014 | |||||
16 | CarMax, Inc. (a) | 1,127 | |||||
10 | Carvana Co. (a) | 102 | |||||
6 | Lithia Motors, Inc. | 1,579 | |||||
4 | Murphy USA, Inc. | 1,088 | |||||
6 | Penske Automotive Group, Inc. | 767 | |||||
6,895 | |||||||
Biotechnology - 2.5% | |||||||
148 | AbbVie, Inc. | 21,867 | |||||
34 | Amgen, Inc. | 8,582 | |||||
22 | Biogen, Inc. (a) | 6,400 | |||||
246 | Gilead Sciences, Inc. | 20,649 | |||||
22 | Moderna, Inc. (a) | 3,873 | |||||
2 | Regeneron Pharmaceuticals, Inc. (a) | 1,517 | |||||
8 | Sarepta Therapeutics, Inc. (a) | 1,000 | |||||
6 | United Therapeutics Corp. (a) | 1,579 | |||||
65,467 | |||||||
Brewers - 0.1% | |||||||
36 | Molson Coors Beverage Co. - Class B | 1,893 | |||||
Broadcasting - 0.2% | |||||||
62 | Fox Corp. - Class A | 2,104 | |||||
28 | Fox Corp. - Class B | 888 | |||||
2 | Nexstar Media Group, Inc. | 410 | |||||
2 | Paramount Global - Class A | 53 | |||||
100 | Paramount Global - Class B | 2,316 | |||||
5,771 | |||||||
Building Products - 0.9% | |||||||
10 | A.O. Smith Corp. | 677 | |||||
4 | Allegion PLC ADR (b) | 470 | |||||
2 | Armstrong World Industries, Inc. | 155 | |||||
34 | Builders FirstSource, Inc. (a) | 2,710 | |||||
80 | Carrier Global Corp. | 3,642 | |||||
22 | Fortune Brands Innovations, Inc. | 1,419 | |||||
92 | Johnson Controls International PLC ADR (b) | 6,400 | |||||
4 | Lennox International, Inc. | 1,042 | |||||
26 | Masco Corp. | 1,383 | |||||
22 | Masterbrand, Inc. (a) | 202 | |||||
18 | Owens Corning | 1,740 | |||||
20 | Trane Technologies PLC ADR (b) | 3,582 | |||||
23,422 |
The accompanying notes are an integral part of these financial statements.
63
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Cable & Satellite - 1.4% | |||||||
42 | Altice USA, Inc. - Class A (a) | $ | 206 | ||||
880 | Comcast Corp. - Class A | 34,628 | |||||
50 | DISH Network Corp. - Class A (a) | 720 | |||||
16 | Liberty Media Corp. - Liberty SiriusXM - Class A (a) | 650 | |||||
30 | Liberty Media Corp. - Liberty SiriusXM - Class C (a) | 1,209 | |||||
90 | Sirius XM Holdings, Inc. | 521 | |||||
37,934 | |||||||
Casinos & Gaming - 0.5% | |||||||
40 | Caesars Entertainment, Inc. (a) | 2,082 | |||||
66 | Las Vegas Sands Corp. (a) | 3,894 | |||||
70 | MGM Resorts International | 2,899 | |||||
32 | Penn Entertainment, Inc. (a) | 1,134 | |||||
20 | Wynn Resorts Ltd. (a) | 2,073 | |||||
12,082 | |||||||
Commodity Chemicals - 0.6% | |||||||
140 | Dow, Inc. | 8,309 | |||||
50 | LyondellBasell Industries N.V. - Class A ADR (b) | 4,834 | |||||
12 | Olin Corp. | 775 | |||||
6 | Westlake Corp. | 737 | |||||
14,655 | |||||||
Communications Equipment - 1.1% | |||||||
526 | Cisco Systems, Inc. | 25,600 | |||||
2 | F5, Inc. (a) | 295 | |||||
54 | Juniper Networks, Inc. | 1,744 | |||||
2 | Lumentum Holdings, Inc. (a) | 120 | |||||
6 | Motorola Solutions, Inc. | 1,542 | |||||
29,301 | |||||||
Computer & Electronics Retail - 0.2% | |||||||
40 | Best Buy Co., Inc. | 3,549 | |||||
32 | GameStop Corp. - Class A (a)(d) | 700 | |||||
4,249 | |||||||
Construction Machinery & Heavy Trucks - 1.3% | |||||||
20 | Allison Transmission Holdings, Inc. | 902 | |||||
66 | Caterpillar, Inc. | 16,651 | |||||
28 | Cummins, Inc. | 6,987 | |||||
12 | Oshkosh Corp. | 1,209 | |||||
62 | PACCAR, Inc. | 6,777 | |||||
26 | Westinghouse Air Brake Technologies Corp. | 2,699 | |||||
35,225 | |||||||
Construction Materials - 0.0% (c) | |||||||
4 | Eagle Materials, Inc. | 584 | |||||
Construction & Engineering - 0.1% | |||||||
16 | AECOM | 1,396 | |||||
8 | EMCOR Group, Inc. | 1,186 | |||||
40 | MDU Resources Group, Inc. | 1,236 | |||||
3,818 |
The accompanying notes are an integral part of these financial statements.
64
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Consumer Electronics - 0.0% (c) | |||||||
10 | Garmin Ltd. ADR (b) | $ | 989 | ||||
Consumer Finance - 1.3% | |||||||
60 | Ally Financial, Inc. | 1,949 | |||||
60 | American Express Co. | 10,496 | |||||
74 | Capital One Financial Corp. | 8,806 | |||||
54 | Discover Financial Services | 6,303 | |||||
22 | OneMain Holdings, Inc. | 949 | |||||
44 | SLM Corp. | 773 | |||||
94 | Synchrony Financial | 3,453 | |||||
32,729 | |||||||
Copper - 0.5% | |||||||
282 | Freeport-McMoRan, Inc. | 12,583 | |||||
Data Processing & Outsourced Services - 0.5% | |||||||
4 | Concentrix Corp. | 567 | |||||
4 | Euronet Worldwide, Inc. (a) | 451 | |||||
106 | Fidelity National Information Services, Inc. | 7,954 | |||||
6 | Genpact Ltd. ADR (b) | 284 | |||||
28 | Global Payments, Inc. | 3,156 | |||||
6 | Maximus, Inc. | 449 | |||||
6 | SS&C Technologies Holdings, Inc. | 362 | |||||
76 | Western Union Co. | 1,077 | |||||
14,300 | |||||||
Department Stores - 0.1% | |||||||
26 | Kohl’s Corp. | 842 | |||||
52 | Macy’s, Inc. | 1,229 | |||||
2,071 | |||||||
Distillers & Vintners - 0.1% | |||||||
6 | Constellation Brands, Inc. - Class A | 1,389 | |||||
Distributors - 0.2% | |||||||
18 | Genuine Parts Co. | 3,021 | |||||
42 | LKQ Corp. | 2,476 | |||||
5,497 | |||||||
Diversified Banks - 7.5% | |||||||
1,390 | Bank of America Corp. | 49,317 | |||||
370 | Citigroup, Inc. | 19,321 | |||||
574 | JPMorgan Chase & Co. | 80,337 | |||||
262 | U.S. Bancorp | 13,048 | |||||
748 | Wells Fargo & Co. | 35,059 | |||||
197,082 | |||||||
Diversified Chemicals - 0.0% (c) | |||||||
36 | Huntsman Corp. | 1,141 | |||||
Diversified Support Services - 0.0% (c) | |||||||
4 | IAA, Inc. (a) | 167 |
The accompanying notes are an integral part of these financial statements.
65
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Drug Retail - 0.2% | |||||||
140 | Walgreens Boots Alliance, Inc. | $ | 5,160 | ||||
Education Services - 0.0% (c) | |||||||
4 | Bright Horizons Family Solutions, Inc. (a) | 307 | |||||
Electric Utilities - 3.7% | |||||||
30 | Alliant Energy Corp. | 1,621 | |||||
92 | American Electric Power Co., Inc. | 8,644 | |||||
14 | Avangrid, Inc. | 590 | |||||
8 | Constellation Energy Corp. | 683 | |||||
150 | Duke Energy Corp. | 15,367 | |||||
76 | Edison International | 5,236 | |||||
40 | Entergy Corp. | 4,331 | |||||
40 | Evergy, Inc. | 2,506 | |||||
46 | Eversource Energy | 3,787 | |||||
190 | Exelon Corp. | 8,016 | |||||
108 | FirstEnergy Corp. | 4,423 | |||||
20 | Hawaiian Electric Industries, Inc. | 845 | |||||
8 | IDACORP, Inc. | 846 | |||||
92 | NextEra Energy, Inc. | 6,866 | |||||
46 | NRG Energy, Inc. | 1,574 | |||||
40 | OGE Energy Corp. | 1,573 | |||||
316 | PG&E Corp. (a) | 5,024 | |||||
22 | Pinnacle West Capital Corp. | 1,640 | |||||
14 | PNM Resources, Inc. | 693 | |||||
18 | Portland General Electric Co. | 856 | |||||
142 | PPL Corp. | 4,203 | |||||
188 | Southern Co. | 12,724 | |||||
70 | Xcel Energy, Inc. | 4,814 | |||||
96,862 | |||||||
Electrical Components & Equipment - 0.7% | |||||||
4 | Acuity Brands, Inc. | 754 | |||||
2 | AMETEK, Inc. | 290 | |||||
12 | ChargePoint Holdings, Inc. (a)(d) | 146 | |||||
44 | Eaton Corp. PLC ADR (b) | 7,137 | |||||
52 | Emerson Electric Co. | 4,691 | |||||
4 | Hubbell, Inc. | 916 | |||||
14 | Regal Rexnord Corp. | 1,949 | |||||
4 | Rockwell Automation, Inc. | 1,128 | |||||
18 | Sensata Technologies Holding PLC ADR (b) | 915 | |||||
40 | Sunrun, Inc. (a) | 1,051 | |||||
18,977 | |||||||
Electronic Components - 0.2% | |||||||
4 | Coherent Corp. (a) | 174 | |||||
126 | Corning, Inc. | 4,361 | |||||
4,535 |
The accompanying notes are an integral part of these financial statements.
66
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Electronic Equipment & Instruments - 0.1% | |||||||
14 | National Instruments Corp. | $ | 756 | ||||
28 | Vontier Corp. | 645 | |||||
1,401 | |||||||
Electronic Manufacturing Services - 0.2% | |||||||
90 | Flex Ltd. ADR (a)(b) | 2,102 | |||||
4 | IPG Photonics Corp. (a) | 448 | |||||
24 | Jabil, Inc. | 1,887 | |||||
4,437 | |||||||
Environmental & Facilities Services - 0.1% | |||||||
2 | Clean Harbors, Inc. (a) | 261 | |||||
4 | Republic Services, Inc. | 499 | |||||
16 | Stericycle, Inc. (a) | 861 | |||||
4 | Waste Management, Inc. | 619 | |||||
2,240 | |||||||
Fertilizers & Agricultural Chemicals - 0.4% | |||||||
22 | C.F. Industries Holdings, Inc. | 1,863 | |||||
46 | Corteva, Inc. | 2,965 | |||||
8 | FMC Corp. | 1,065 | |||||
72 | Mosaic Co. | 3,567 | |||||
6 | Scotts Miracle-Gro Co. | 433 | |||||
9,893 | |||||||
Financial Exchanges & Data - 0.4% | |||||||
4 | Cboe Global Markets, Inc. | 492 | |||||
30 | CME Group, Inc. | 5,300 | |||||
28 | Coinbase Global, Inc. - Class A (a)(d) | 1,637 | |||||
18 | Intercontinental Exchange, Inc. | 1,936 | |||||
2 | Nasdaq, Inc. | 120 | |||||
9,485 | |||||||
Food Distributors - 0.3% | |||||||
30 | Performance Food Group Co. (a) | 1,840 | |||||
58 | Sysco Corp. | 4,493 | |||||
14 | US Foods Holding Corp. (a) | 534 | |||||
6,867 | |||||||
Food Retail - 0.3% | |||||||
32 | Albertsons Cos., Inc. - Class A | 678 | |||||
6 | Casey’s General Stores, Inc. | 1,415 | |||||
128 | Kroger Co. | 5,713 | |||||
7,806 | |||||||
Footwear - 0.0% (c) | |||||||
22 | Skechers USA, Inc. - Class A (a) | 1,059 | |||||
Gas Utilities - 0.2% | |||||||
20 | Atmos Energy Corp. | 2,351 | |||||
16 | National Fuel Gas Co. | 929 | |||||
42 | UGI Corp. | 1,673 | |||||
4,953 |
The accompanying notes are an integral part of these financial statements.
67
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
General Merchandise Stores - 0.4% | |||||||
2 | Dollar Tree, Inc. (a) | $ | 300 | ||||
58 | Target Corp. | 9,984 | |||||
10,284 | |||||||
Gold - 0.2% | |||||||
118 | Newmont Corp. | 6,246 | |||||
2 | Royal Gold, Inc. | 254 | |||||
6,500 | |||||||
Health Care Distributors - 0.8% | |||||||
32 | AmerisourceBergen Corp. | 5,407 | |||||
54 | Cardinal Health, Inc. | 4,171 | |||||
12 | Henry Schein, Inc. (a) | 1,034 | |||||
28 | McKesson Corp. | 10,603 | |||||
21,215 | |||||||
Health Care Equipment - 1.2% | |||||||
34 | Baxter International, Inc. | 1,553 | |||||
16 | Becton Dickinson and Co. | 4,036 | |||||
8 | Envista Holdings Corp. (a) | 312 | |||||
71 | GE HealthCare Technologies, Inc. (a) | 4,936 | |||||
8 | Hologic, Inc. (a) | 651 | |||||
2 | Integra LifeSciences Holdings Corp. (a) | 115 | |||||
180 | Medtronic PLC ADR (b) | 15,064 | |||||
2 | QuidelOrtho Corp. (a) | 171 | |||||
4 | Stryker Corp. | 1,015 | |||||
2 | Teleflex, Inc. | 487 | |||||
30 | Zimmer Biomet Holdings, Inc. | 3,820 | |||||
32,160 | |||||||
Health Care Facilities - 0.6% | |||||||
8 | Acadia Healthcare Co., Inc. (a) | 672 | |||||
20 | Encompass Health Corp. | 1,249 | |||||
44 | HCA Healthcare, Inc. | 11,223 | |||||
20 | Tenet Healthcare Corp. (a) | 1,097 | |||||
12 | Universal Health Services, Inc. - Class B | 1,779 | |||||
16,020 | |||||||
Health Care Services - 1.8% | |||||||
54 | Cigna Corp. | 17,100 | |||||
258 | CVS Health Corp. | 22,761 | |||||
10 | DaVita, Inc. (a) | 824 | |||||
12 | Laboratory Corp. of America Holdings | 3,025 | |||||
22 | Premier, Inc. - Class A | 734 | |||||
18 | Quest Diagnostics, Inc. | 2,673 | |||||
47,117 | |||||||
Health Care Supplies - 0.1% | |||||||
36 | Dentsply Sirona, Inc. | 1,326 | |||||
2 | ICU Medical, Inc. (a) | 386 | |||||
1,712 |
The accompanying notes are an integral part of these financial statements.
68
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Health Care Technology - 0.0% (c) | |||||||
10 | Teladoc Health, Inc. (a) | $ | 294 | ||||
Home Furnishings - 0.1% | |||||||
26 | Leggett & Platt, Inc. | 951 | |||||
10 | Mohawk Industries, Inc. (a) | 1,201 | |||||
34 | Tempur Sealy International, Inc. | 1,386 | |||||
3,538 | |||||||
Home Improvement Retail - 1.1% | |||||||
66 | Home Depot, Inc. | 21,395 | |||||
34 | Lowe’s Cos., Inc. | 7,080 | |||||
28,475 | |||||||
Homebuilding - 0.6% | |||||||
64 | D.R. Horton, Inc. | 6,316 | |||||
50 | Lennar Corp. - Class A | 5,120 | |||||
2 | Lennar Corp. - Class B | 173 | |||||
46 | PulteGroup, Inc. | 2,617 | |||||
22 | Toll Brothers, Inc. | 1,309 | |||||
15,535 | |||||||
Homefurnishing Retail - 0.1% | |||||||
2 | RH (a) | 624 | |||||
14 | Williams-Sonoma, Inc. | 1,889 | |||||
2,513 | |||||||
Hotels, Resorts & Cruise Lines - 0.7% | |||||||
2 | Booking Holdings, Inc. (a) | 4,868 | |||||
190 | Carnival Corp. ADR (a)(b) | 2,056 | |||||
30 | Expedia Group, Inc. (a) | 3,429 | |||||
2 | Hyatt Hotels Corp. - Class A (a) | 218 | |||||
8 | Marriott Vacations Worldwide Corp. | 1,280 | |||||
82 | Norwegian Cruise Line Holdings Ltd. ADR (a)(b) | 1,247 | |||||
42 | Royal Caribbean Cruises Ltd. ADR (a)(b) | 2,727 | |||||
16 | Travel + Leisure Co. | 678 | |||||
10 | Wyndham Hotels & Resorts, Inc. | 775 | |||||
17,278 | |||||||
Household Appliances - 0.1% | |||||||
10 | Whirlpool Corp. | 1,556 | |||||
Household Products - 0.7% | |||||||
10 | Clorox Co. | 1,447 | |||||
28 | Colgate-Palmolive Co. | 2,087 | |||||
30 | Kimberly-Clark Corp. | 3,900 | |||||
82 | Procter & Gamble Co. | 11,675 | |||||
6 | Reynolds Consumer Products, Inc. | 179 | |||||
19,288 | |||||||
Housewares & Specialties - 0.0% (c) | |||||||
74 | Newell Brands, Inc. | 1,181 |
The accompanying notes are an integral part of these financial statements.
69
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Human Resource & Employment Services - 0.1% | |||||||
10 | ManpowerGroup, Inc. | $ | 872 | ||||
16 | Robert Half International, Inc. | 1,343 | |||||
2 | TriNet Group, Inc. (a) | 151 | |||||
2,366 | |||||||
Hypermarkets & Super Centers - 1.1% | |||||||
12 | BJ’s Wholesale Club Holdings, Inc. (a) | 870 | |||||
196 | Walmart, Inc. | 28,199 | |||||
29,069 | |||||||
Independent Power Producers & Energy Traders - 0.2% | |||||||
128 | AES Corp. | 3,508 | |||||
46 | Vistra Corp. | 1,061 | |||||
4,569 | |||||||
Industrial Conglomerates - 1.5% | |||||||
110 | 3M Co. | 12,659 | |||||
214 | General Electric Co. | 17,223 | |||||
48 | Honeywell International, Inc. | 10,007 | |||||
39,889 | |||||||
Industrial Gases - 0.1% | |||||||
10 | Air Products and Chemicals, Inc. | 3,205 | |||||
Industrial Machinery - 1.0% | |||||||
8 | Crane Holdings Co. | 927 | |||||
8 | Donaldson Co., Inc. | 499 | |||||
8 | Dover Corp. | 1,215 | |||||
22 | Flowserve Corp. | 757 | |||||
44 | Fortive Corp. | 2,993 | |||||
22 | Gates Industrial Corp. PLC ADR (a)(b) | 291 | |||||
2 | Graco, Inc. | 137 | |||||
16 | Illinois Tool Works, Inc. | 3,777 | |||||
8 | Ingersoll Rand, Inc. | 448 | |||||
10 | ITT, Inc. | 916 | |||||
2 | Lincoln Electric Holdings, Inc. | 334 | |||||
4 | Middleby Corp. (a) | 622 | |||||
22 | Otis Worldwide Corp. | 1,809 | |||||
14 | Parker-Hannifin Corp. | 4,564 | |||||
20 | Pentair PLC ADR (b) | 1,108 | |||||
10 | Snap-on, Inc. | 2,487 | |||||
30 | Stanley Black & Decker, Inc. | 2,679 | |||||
10 | Symbotic, Inc. (a) | 157 | |||||
8 | Xylem, Inc. | 832 | |||||
26,552 | |||||||
Insurance Brokers - 0.2% | |||||||
2 | Arthur J. Gallagher & Co. | 391 | |||||
22 | Willis Towers Watson PLC ADR (b) | 5,592 | |||||
5,983 |
The accompanying notes are an integral part of these financial statements.
70
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Integrated Oil & Gas - 6.4% | |||||||
356 | Chevron Corp. | $ | 61,951 | ||||
832 | Exxon Mobil Corp. | 96,520 | |||||
142 | Occidental Petroleum Corp. | 9,200 | |||||
167,671 | |||||||
Integrated Telecommunication Services - 2.4% | |||||||
1,408 | AT&T, Inc. | 28,681 | |||||
48 | Frontier Communications Parent, Inc. (a) | 1,421 | |||||
776 | Verizon Communications, Inc. | 32,258 | |||||
62,360 | |||||||
Interactive Home Entertainment - 0.0% (c) | |||||||
10 | Playtika Holding Corp. (a) | 105 | |||||
Interactive Media & Services - 0.2% | |||||||
8 | IAC, Inc. (a) | 452 | |||||
22 | Match Group, Inc. (a) | 1,191 | |||||
14 | Meta Platforms, Inc. - Class A (a) | 2,086 | |||||
4 | Ziff Davis, Inc. (a) | 358 | |||||
4,087 | |||||||
Internet & Direct Marketing Retail - 0.1% | |||||||
58 | eBay, Inc. | 2,871 | |||||
Internet Services & Infrastructure - 0.0% (c) | |||||||
2 | VeriSign, Inc. (a) | 436 | |||||
Investment Banking & Brokerage - 2.5% | |||||||
44 | Charles Schwab Corp. | 3,406 | |||||
6 | Evercore, Inc. - Class A | 779 | |||||
68 | Goldman Sachs Group, Inc. | 24,875 | |||||
4 | Houlihan Lokey, Inc. | 396 | |||||
18 | Interactive Brokers Group, Inc. - Class A | 1,439 | |||||
32 | Jefferies Financial Group, Inc. | 1,257 | |||||
22 | Lazard Ltd. - Class A ADR (b) | 882 | |||||
266 | Morgan Stanley | 25,890 | |||||
38 | Raymond James Financial, Inc. | 4,285 | |||||
116 | Robinhood Markets, Inc. - Class A (a) | 1,208 | |||||
20 | Stifel Financial Corp. | 1,348 | |||||
20 | Virtu Financial, Inc. - Class A | 386 | |||||
66,151 | |||||||
IT Consulting & Other Services - 1.2% | |||||||
10 | Amdocs Ltd. ADR (b) | 919 | |||||
60 | Cognizant Technology Solutions Corp. - Class A | 4,005 | |||||
46 | DXC Technology Co. (a) | 1,322 | |||||
178 | International Business Machines Corp. | 23,982 | |||||
30,228 | |||||||
Leisure Products - 0.1% | |||||||
14 | Brunswick Corp. | 1,181 |
The accompanying notes are an integral part of these financial statements.
71
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
20 | Hasbro, Inc. | $ | 1,183 | ||||
8 | Polaris, Inc. | 919 | |||||
3,283 | |||||||
Life & Health Insurance - 1.3% | |||||||
114 | Aflac, Inc. | 8,379 | |||||
3 | F&G Annuities & Life, Inc. | 64 | |||||
18 | Globe Life, Inc. | 2,175 | |||||
30 | Lincoln National Corp. | 1,063 | |||||
120 | MetLife, Inc. | 8,762 | |||||
6 | Primerica, Inc. | 971 | |||||
50 | Principal Financial Group, Inc. | 4,627 | |||||
74 | Prudential Financial, Inc. | 7,766 | |||||
34 | Unum Group | 1,429 | |||||
35,236 | |||||||
Life Sciences Tools & Services - 0.0% (c) | |||||||
8 | Maravai LifeSciences Holdings, Inc. - Class A (a) | 117 | |||||
2 | Syneos Health, Inc. (a) | 72 | |||||
189 | |||||||
Managed Health Care - 0.7% | |||||||
102 | Centene Corp. (a) | 7,776 | |||||
14 | Elevance Health, Inc. | 7,000 | |||||
4 | Humana, Inc. | 2,047 | |||||
4 | Molina Healthcare, Inc. (a) | 1,247 | |||||
18,070 | |||||||
Metal & Glass Containers - 0.1% | |||||||
4 | AptarGroup, Inc. | 463 | |||||
8 | Ball Corp. | 466 | |||||
26 | Berry Global Group, Inc. | 1,605 | |||||
14 | Crown Holdings, Inc. | 1,234 | |||||
3,768 | |||||||
Motorcycle Manufacturers - 0.0% (c) | |||||||
26 | Harley-Davidson, Inc. | 1,197 | |||||
Movies & Entertainment - 1.0% | |||||||
102 | AMC Entertainment Holdings, Inc. - Class A (a) | 546 | |||||
2 | Liberty Media Corp. - Liberty Formula One - Class A (a) | 127 | |||||
16 | Liberty Media Corp. - Liberty Formula One - Class C (a) | 1,133 | |||||
30 | Live Nation Entertainment, Inc. (a) | 2,415 | |||||
2 | Madison Square Garden Sports Corp. | 364 | |||||
128 | Walt Disney Co. (a) | 13,887 | |||||
436 | Warner Bros Discovery, Inc. (a) | 6,462 | |||||
24,934 | |||||||
Multi-line Insurance - 0.6% | |||||||
154 | American International Group, Inc. | 9,736 | |||||
6 | Assurant, Inc. | 796 | |||||
64 | Hartford Financial Services Group, Inc. | 4,967 | |||||
15,499 |
The accompanying notes are an integral part of these financial statements.
72
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Multi-Sector Holdings - 1.0% | |||||||
80 | Berkshire Hathaway, Inc. - Class B (a) | $ | 24,922 | ||||
Multi-Utilities - 1.8% | |||||||
34 | Ameren Corp. | 2,954 | |||||
12 | Black Hills Corp. | 869 | |||||
122 | CenterPoint Energy, Inc. | 3,675 | |||||
34 | CMS Energy Corp. | 2,148 | |||||
70 | Consolidated Edison, Inc. | 6,672 | |||||
132 | Dominion Energy, Inc. | 8,400 | |||||
30 | DTE Energy Co. | 3,491 | |||||
80 | NiSource, Inc. | 2,220 | |||||
82 | Public Service Enterprise Group, Inc. | 5,078 | |||||
52 | Sempra Energy | 8,337 | |||||
36 | WEC Energy Group, Inc. | 3,384 | |||||
47,228 | |||||||
Office Services & Supplies - 0.0% (c) | |||||||
2 | MSA Safety, Inc. | 273 | |||||
Oil & Gas Equipment & Services - 0.7% | |||||||
164 | Baker Hughes Co. | 5,205 | |||||
76 | Halliburton Co. | 3,133 | |||||
8 | NOV, Inc. | 196 | |||||
180 | Schlumberger Ltd. ADR (b) | 10,256 | |||||
18,790 | |||||||
Oil & Gas Exploration & Production - 3.5% | |||||||
52 | Antero Resources Corp. (a) | 1,500 | |||||
66 | APA Corp. | 2,926 | |||||
16 | Chesapeake Energy Corp. | 1,388 | |||||
254 | ConocoPhillips | 30,955 | |||||
152 | Coterra Energy, Inc. | 3,805 | |||||
128 | Devon Energy Corp. | 8,095 | |||||
34 | Diamondback Energy, Inc. | 4,968 | |||||
114 | EOG Resources, Inc. | 15,076 | |||||
66 | EQT Corp. | 2,156 | |||||
138 | Marathon Oil Corp. | 3,791 | |||||
18 | Matador Resources Co. | 1,191 | |||||
50 | Ovintiv, Inc. | 2,461 | |||||
20 | PDC Energy, Inc. | 1,355 | |||||
46 | Pioneer Natural Resources Co. | 10,596 | |||||
50 | Range Resources Corp. | 1,251 | |||||
216 | Southwestern Energy Co. (a) | 1,192 | |||||
3 | Vitesse Energy, Inc. (a) | 48 | |||||
92,754 | |||||||
Oil & Gas Refining & Marketing - 1.4% | |||||||
30 | HF Sinclair Corp. | 1,707 | |||||
106 | Marathon Petroleum Corp. | 13,623 |
The accompanying notes are an integral part of these financial statements.
73
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
96 | Phillips 66 | $ | 9,626 | ||||
80 | Valero Energy Corp. | 11,202 | |||||
36,158 | |||||||
Oil & Gas Storage & Transportation - 1.0% | |||||||
18 | Cheniere Energy, Inc. | 2,750 | |||||
20 | DT Midstream, Inc. | 1,093 | |||||
8 | Hess Midstream LP - Class A | 247 | |||||
390 | Kinder Morgan, Inc. | 7,137 | |||||
88 | ONEOK, Inc. | 6,026 | |||||
240 | Williams Cos., Inc. | 7,738 | |||||
24,991 | |||||||
Other Diversified Financial Services - 0.2% | |||||||
8 | Apollo Global Management, Inc. | 566 | |||||
8 | Corebridge Financial, Inc. | 174 | |||||
76 | Equitable Holdings, Inc. | 2,437 | |||||
20 | Voya Financial, Inc. | 1,395 | |||||
4,572 | |||||||
Packaged Foods & Meats - 1.4% | |||||||
30 | Campbell Soup Co. | 1,558 | |||||
94 | Conagra Brands, Inc. | 3,496 | |||||
22 | Flowers Foods, Inc. | 609 | |||||
64 | General Mills, Inc. | 5,015 | |||||
22 | Hormel Foods Corp. | 997 | |||||
20 | J.M. Smucker Co. | 3,056 | |||||
38 | Kellogg Co. | 2,606 | |||||
152 | Kraft Heinz Co. | 6,161 | |||||
4 | Lamb Weston Holdings, Inc. | 400 | |||||
2 | Lancaster Colony Corp. | 384 | |||||
8 | McCormick & Co., Inc. | 601 | |||||
108 | Mondelez International, Inc. - Class A | 7,068 | |||||
8 | Pilgrim’s Pride Corp. (a) | 194 | |||||
8 | Post Holdings, Inc. (a) | 760 | |||||
56 | Tyson Foods, Inc. - Class A | 3,682 | |||||
36,587 | |||||||
Paper Packaging - 0.5% | |||||||
244 | Amcor PLC ADR (b) | 2,943 | |||||
6 | Avery Dennison Corp. | 1,137 | |||||
32 | Graphic Packaging Holding Co. | 771 | |||||
74 | International Paper Co. | 3,095 | |||||
18 | Packaging Corp. of America | 2,569 | |||||
8 | Sealed Air Corp. | 438 | |||||
18 | Sonoco Products Co. | 1,100 | |||||
50 | Westrock Co. | 1,962 | |||||
14,015 | |||||||
Personal Products - 0.0% (c) | |||||||
4 | BellRing Brands, Inc. (a) | 113 | |||||
70 | Coty, Inc. - Class A (a) | 697 | |||||
810 |
The accompanying notes are an integral part of these financial statements.
74
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Pharmaceuticals - 4.3% | |||||||
200 | Bristol-Myers Squibb Co. | $ | 14,530 | ||||
20 | Elanco Animal Health, Inc. (a) | 275 | |||||
2 | Jazz Pharmaceuticals PLC ADR (a)(b) | 313 | |||||
180 | Johnson & Johnson | 29,416 | |||||
232 | Merck & Co., Inc. | 24,919 | |||||
50 | Organon & Co. | 1,507 | |||||
26 | Perrigo Co. PLC ADR (b) | 973 | |||||
840 | Pfizer, Inc. | 37,094 | |||||
10 | Royalty Pharma PLC - Class A ADR (b) | 392 | |||||
238 | Viatris, Inc. | 2,894 | |||||
112,313 | |||||||
Property & Casualty Insurance - 2.0% | |||||||
54 | Allstate Corp. | 6,937 | |||||
14 | American Financial Group, Inc. | 1,996 | |||||
44 | Arch Capital Group Ltd. ADR (a)(b) | 2,831 | |||||
16 | Axis Capital Holdings Ltd. ADR (b) | 1,001 | |||||
70 | Chubb Ltd. ADR (b) | 15,924 | |||||
14 | Cincinnati Financial Corp. | 1,584 | |||||
52 | Fidelity National Financial, Inc. | 2,290 | |||||
20 | First American Financial Corp. | 1,237 | |||||
6 | Hanover Insurance Group, Inc. | 807 | |||||
42 | Loews Corp. | 2,582 | |||||
56 | Old Republic International Corp. | 1,478 | |||||
10 | Progressive Corp. | 1,364 | |||||
10 | Selective Insurance Group, Inc. | 950 | |||||
46 | Travelers Cos., Inc. | 8,792 | |||||
22 | W.R. Berkley Corp. | 1,543 | |||||
51,316 | |||||||
Publishing - 0.1% | |||||||
8 | New York Times Co. - Class A | 279 | |||||
68 | News Corp. - Class A | 1,378 | |||||
22 | News Corp. - Class B | 450 | |||||
2,107 | |||||||
Railroads - 0.7% | |||||||
102 | CSX Corp. | 3,154 | |||||
18 | Norfolk Southern Corp. | 4,425 | |||||
48 | Union Pacific Corp. | 9,801 | |||||
17,380 | |||||||
Real Estate Development - 0.0% (c) | |||||||
4 | Howard Hughes Corp. (a) | 342 | |||||
Real Estate Services - 0.2% | |||||||
34 | CBRE Group, Inc. - Class A (a) | 2,907 | |||||
10 | Jones Lang LaSalle, Inc. (a) | 1,849 | |||||
4,756 | |||||||
Regional Banks - 3.1% | |||||||
22 | Bank OZK | 1,005 |
The accompanying notes are an integral part of these financial statements.
75
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
6 | BOK Financial Corp. | $ | 603 | ||||
98 | Citizens Financial Group, Inc. | 4,245 | |||||
26 | Comerica, Inc. | 1,906 | |||||
12 | Commerce Bancshares, Inc. | 799 | |||||
10 | Cullen/Frost Bankers, Inc. | 1,303 | |||||
28 | East West Bancorp, Inc. | 2,199 | |||||
134 | Fifth Third Bancorp | 4,863 | |||||
2 | First Citizens BancShares, Inc. - Class A | 1,555 | |||||
106 | First Horizon Corp. | 2,621 | |||||
8 | First Republic Bank | 1,127 | |||||
278 | Huntington Bancshares, Inc. | 4,217 | |||||
182 | KeyCorp | 3,493 | |||||
34 | M&T Bank Corp. | 5,304 | |||||
14 | Pinnacle Financial Partners, Inc. | 1,102 | |||||
82 | PNC Financial Services Group, Inc. | 13,565 | |||||
16 | Popular, Inc. ADR (b) | 1,098 | |||||
18 | Prosperity Bancshares, Inc. | 1,365 | |||||
182 | Regions Financial Corp. | 4,284 | |||||
8 | Signature Bank | 1,032 | |||||
14 | SouthState Corp. | 1,114 | |||||
2 | SVB Financial Group (a) | 605 | |||||
28 | Synovus Financial Corp. | 1,175 | |||||
260 | Truist Financial Corp. | 12,841 | |||||
42 | Umpqua Holdings Corp. | 764 | |||||
26 | United Bankshares, Inc. | 1,045 | |||||
34 | Webster Financial Corp. | 1,790 | |||||
16 | Western Alliance Bancorp | 1,206 | |||||
12 | Wintrust Financial Corp. | 1,098 | |||||
30 | Zions Bancorp NA | 1,595 | |||||
80,919 | |||||||
Reinsurance - 0.2% | |||||||
8 | Everest Re Group Ltd. ADR (b) | 2,798 | |||||
14 | Reinsurance Group of America, Inc. | 2,125 | |||||
4,923 | |||||||
Renewable Electricity - 0.0% (c) | |||||||
6 | Clearway Energy, Inc. - Class A | 192 | |||||
16 | Clearway Energy, Inc. - Class C | 541 | |||||
2 | NextEra Energy Partners LP | 147 | |||||
880 | |||||||
Research & Consulting Services - 0.2% | |||||||
2 | Booz Allen Hamilton Holding Corp. | 189 | |||||
2 | CACI International, Inc. - Class A (a) | 616 | |||||
32 | Clarivate PLC ADR (a)(b) | 356 | |||||
4 | Jacobs Solutions, Inc. | 494 | |||||
6 | KBR, Inc. | 307 | |||||
10 | Leidos Holdings, Inc. | 988 | |||||
10 | Science Applications International Corp. | 1,038 | |||||
3,988 |
The accompanying notes are an integral part of these financial statements.
76
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Restaurants - 1.1% | |||||||
48 | Aramark | $ | 2,137 | ||||
20 | Darden Restaurants, Inc. | 2,959 | |||||
50 | McDonald’s Corp. | 13,370 | |||||
68 | Starbucks Corp. | 7,422 | |||||
4 | Texas Roadhouse, Inc. | 402 | |||||
6 | Wendy’s Co. | 134 | |||||
10 | Yum! Brands, Inc. | 1,305 | |||||
27,729 | |||||||
Semiconductor Equipment - 0.2% | |||||||
30 | Applied Materials, Inc. | 3,345 | |||||
2 | Lam Research Corp. | 1,000 | |||||
8 | MKS Instruments, Inc. | 819 | |||||
5,164 | |||||||
Semiconductors - 2.5% | |||||||
42 | Analog Devices, Inc. | 7,202 | |||||
8 | Broadcom, Inc. | 4,680 | |||||
2 | Cirrus Logic, Inc. (a) | 181 | |||||
6 | First Solar, Inc. (a) | 1,066 | |||||
808 | Intel Corp. | 22,834 | |||||
44 | Marvell Technology, Inc. | 1,899 | |||||
34 | Microchip Technology, Inc. | 2,639 | |||||
216 | Micron Technology, Inc. | 13,025 | |||||
12 | ON Semiconductor Corp. (a) | 881 | |||||
4 | Qorvo, Inc. (a) | 435 | |||||
26 | Skyworks Solutions, Inc. | 2,851 | |||||
46 | Texas Instruments, Inc. | 8,152 | |||||
65,845 | |||||||
Soft Drinks - 1.0% | |||||||
198 | Coca-Cola Co. | 12,141 | |||||
108 | Keurig Dr. Pepper, Inc. | 3,810 | |||||
56 | PepsiCo, Inc. | 9,577 | |||||
25,528 | |||||||
Specialized Consumer Services - 0.1% | |||||||
40 | ADT, Inc. | 352 | |||||
32 | H&R Block, Inc. | 1,247 | |||||
2 | Service Corp. International | 148 | |||||
1,747 | |||||||
Specialized Finance - 0.0% (c) | |||||||
34 | SoFi Technologies, Inc. (a) | 236 | |||||
Specialty Chemicals - 0.9% | |||||||
6 | Ashland, Inc. | 656 | |||||
30 | Axalta Coating Systems Ltd. ADR (a)(b) | 903 | |||||
20 | Celanese Corp. | 2,464 | |||||
92 | DuPont de Nemours, Inc. | 6,803 | |||||
26 | Eastman Chemical Co. | 2,292 | |||||
12 | Ecolab, Inc. | 1,858 |
The accompanying notes are an integral part of these financial statements.
77
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
42 | International Flavors & Fragrances, Inc. | $ | 4,723 | ||||
24 | PPG Industries, Inc. | 3,128 | |||||
8 | RPM International, Inc. | 719 | |||||
23,546 | |||||||
Specialty Stores - 0.1% | |||||||
42 | Bath & Body Works, Inc. | 1,932 | |||||
10 | Dick’s Sporting Goods, Inc. | 1,308 | |||||
3,240 | |||||||
Steel - 0.7% | |||||||
92 | Cleveland-Cliffs, Inc. (a) | 1,964 | |||||
52 | Nucor Corp. | 8,789 | |||||
12 | Reliance Steel & Aluminum Co. | 2,729 | |||||
36 | Steel Dynamics, Inc. | 4,343 | |||||
17,825 | |||||||
Systems Software - 0.4% | |||||||
2 | Dolby Laboratories, Inc. - Class A | 159 | |||||
48 | Gen Digital, Inc. | 1,104 | |||||
46 | Oracle Corp. | 4,069 | |||||
2 | Teradata Corp. (a) | 70 | |||||
10 | UiPath, Inc. - Class A (a) | 154 | |||||
44 | VMware, Inc. - Class A (a) | 5,389 | |||||
10,945 | |||||||
Technology Distributors - 0.1% | |||||||
14 | Arrow Electronics, Inc. (a) | 1,645 | |||||
8 | TD SYNNEX Corp. | 817 | |||||
2,462 | |||||||
Technology Hardware, Storage & Peripherals - 0.7% | |||||||
50 | Dell Technologies, Inc. - Class C | 2,031 | |||||
256 | Hewlett Packard Enterprise Co. | 4,129 | |||||
180 | HP, Inc. | 5,245 | |||||
24 | NetApp, Inc. | 1,590 | |||||
40 | Seagate Technology Holdings PLC ADR (b) | 2,711 | |||||
60 | Western Digital Corp. (a) | 2,637 | |||||
18,343 | |||||||
Thrifts & Mortgage Finance - 0.1% | |||||||
20 | Essent Group Ltd. ADR (b) | 881 | |||||
60 | MGIC Investment Corp. | 847 | |||||
90 | New York Community Bancorp, Inc. | 899 | |||||
34 | Radian Group, Inc. | 751 | |||||
22 | Rocket Cos., Inc. - Class A | 207 | |||||
10 | TFS Financial Corp. | 143 | |||||
16 | UWM Holdings Corp. | 73 | |||||
3,801 | |||||||
Tobacco - 1.8% | |||||||
358 | Altria Group, Inc. | 16,124 | |||||
294 | Philip Morris International, Inc. | 30,647 | |||||
46,771 |
The accompanying notes are an integral part of these financial statements.
78
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Trading Companies & Distributors - 0.4% | |||||||
20 | Air Lease Corp. | $ | 899 | ||||
20 | Ferguson PLC ADR (b) | 2,847 | |||||
10 | MSC Industrial Direct Co., Inc. - Class A | 827 | |||||
10 | United Rentals, Inc. (a) | 4,409 | |||||
2 | Watsco, Inc. | 575 | |||||
9,557 | |||||||
Trucking - 0.3% | |||||||
6 | Avis Budget Group, Inc. (a) | 1,200 | |||||
406 | Grab Holdings Ltd. - Class A ADR (a)(b) | 1,539 | |||||
44 | Hertz Global Holdings, Inc. (a) | 793 | |||||
30 | Knight-Swift Transportation Holdings, Inc. | 1,773 | |||||
4 | Landstar System, Inc. | 691 | |||||
22 | RXO, Inc. (a) | 403 | |||||
18 | U-Haul Holding Co. - Series N | 1,112 | |||||
2 | U-Haul Holding Co. | 134 | |||||
22 | XPO, Inc. (a) | 877 | |||||
8,522 | |||||||
Water Utilities - 0.0% (c) | |||||||
4 | American Water Works Co., Inc. | 626 | |||||
10 | Essential Utilities, Inc. | 467 | |||||
1,093 | |||||||
Wireless Telecommunication Services - 0.0% (c) | |||||||
2 | T-Mobile U.S., Inc. (a) | 299 | |||||
TOTAL COMMON STOCKS (Cost $2,361,612) | 2,526,685 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 3.3% | |||||||
Diversified REITs - 0.2% | |||||||
52 | STORE Capital Corp. | 1,675 | |||||
32 | W.P. Carey, Inc. | 2,737 | |||||
4,412 | |||||||
Health Care REITs - 0.5% | |||||||
46 | Healthcare Realty Trust, Inc. | 990 | |||||
96 | Healthpeak Properties, Inc. | 2,638 | |||||
116 | Medical Properties Trust, Inc. | 1,502 | |||||
46 | Omega Healthcare Investors, Inc. | 1,354 | |||||
68 | Ventas, Inc. | 3,523 | |||||
36 | Welltower, Inc. | 2,701 | |||||
12,708 | |||||||
Hotel & Resort REITs - 0.1% | |||||||
138 | Host Hotels & Resorts, Inc. | 2,601 | |||||
42 | Park Hotels & Resorts, Inc. | 618 | |||||
3,219 | |||||||
Industrial REITs - 0.1% | |||||||
40 | Americold Realty Trust, Inc. | 1,256 | |||||
2 | First Industrial Realty Trust, Inc. | 107 | |||||
4 | Prologis, Inc. | 517 |
The accompanying notes are an integral part of these financial statements.
79
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
14 | STAG Industrial, Inc. | $ | 498 | ||||
2,378 | |||||||
Mortgage REITs - 0.2% | |||||||
102 | AGNC Investment Corp. | 1,183 | |||||
80 | Annaly Capital Management, Inc. | 1,878 | |||||
32 | Blackstone Mortgage Trust, Inc. - Class A | 763 | |||||
92 | Rithm Capital Corp. | 866 | |||||
58 | Starwood Property Trust, Inc. | 1,212 | |||||
5,902 | |||||||
Office REITs - 0.3% | |||||||
18 | Alexandria Real Estate Equities, Inc. | 2,893 | |||||
26 | Boston Properties, Inc. | 1,938 | |||||
6 | Cousins Properties, Inc. | 165 | |||||
34 | Douglas Emmett, Inc. | 570 | |||||
20 | Highwoods Properties, Inc. | 607 | |||||
22 | Kilroy Realty Corp. | 903 | |||||
12 | SL Green Realty Corp. | 494 | |||||
34 | Vornado Realty Trust | 829 | |||||
8,399 | |||||||
Residential REITs - 0.3% | |||||||
10 | Apartment Income REIT Corp. | 383 | |||||
10 | AvalonBay Communities, Inc. | 1,774 | |||||
4 | Camden Property Trust | 493 | |||||
28 | Equity Residential | 1,782 | |||||
4 | Essex Property Trust, Inc. | 904 | |||||
2 | Mid-America Apartment Communities, Inc. | 333 | |||||
18 | UDR, Inc. | 767 | |||||
6,436 | |||||||
Retail REITs - 0.9% | |||||||
10 | Agree Realty Corp. | 746 | |||||
60 | Brixmor Property Group, Inc. | 1,412 | |||||
12 | Federal Realty Investment Trust | 1,338 | |||||
118 | Kimco Realty Corp. | 2,650 | |||||
32 | National Retail Properties, Inc. | 1,515 | |||||
74 | Realty Income Corp. | 5,019 | |||||
28 | Regency Centers Corp. | 1,866 | |||||
64 | Simon Property Group, Inc. | 8,222 | |||||
26 | Spirit Realty Capital, Inc. | 1,141 | |||||
23,909 | |||||||
Specialized REITs - 0.7% | |||||||
12 | CubeSmart | 550 | |||||
14 | Digital Realty Trust, Inc. | 1,605 | |||||
2 | Extra Space Storage, Inc. | 316 | |||||
48 | Gaming and Leisure Properties, Inc. | 2,571 | |||||
26 | Iron Mountain, Inc. | 1,419 | |||||
12 | Lamar Advertising Co. - Class A | 1,279 | |||||
4 | Life Storage, Inc. | 432 |
The accompanying notes are an integral part of these financial statements.
80
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
10 | Rayonier, Inc. | $ | 364 | ||||
140 | VICI Properties, Inc. | 4,785 | |||||
146 | Weyerhaeuser Co. | 5,027 | |||||
18,348 | |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $77,045) | 85,711 | ||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.1% | |||||||
2,280 | First American Government Obligations Fund - Class X, 4.14% (e) | 2,280 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $2,280) | 2,280 | ||||||
MONEY MARKET FUNDS - 0.3% | |||||||
7,436 | First American Government Obligations Fund - Class X, 4.14% (e) | 7,436 | |||||
TOTAL MONEY MARKET FUNDS (Cost $7,436) | 7,436 | ||||||
TOTAL INVESTMENTS (Cost $2,448,373) - 100.0% | $ | 2,622,112 | |||||
Other Assets in Excess of Liabilities - 0.0% (c) | 593 | ||||||
TOTAL NET ASSETS - 100.0% | $ | 2,622,704 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | Represents less than 0.05% of net assets. |
(d) | This security or a portion of this security was out on loan as of January 31, 2023. Total loaned securities had a market value of $2,310 as of January 31, 2023. |
(e) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
81
Strive Small-Cap ETF |
Schedule of Investments |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
COMMON STOCKS - 93.3% | |||||||
Aerospace & Defense - 1.5% | |||||||
171 | Aerojet Rocketdyne Holdings, Inc. (a) | $ | 9,562 | ||||
206 | BWX Technologies, Inc. | 12,537 | |||||
190 | Hexcel Corp. | 13,410 | |||||
127 | Mercury Systems, Inc. (a) | 6,348 | |||||
65 | Moog, Inc. - Class A | 6,196 | |||||
84 | Parsons Corp. (a) | 3,656 | |||||
235 | Spirit AeroSystems Holdings, Inc. - Class A | 8,495 | |||||
60,204 | |||||||
Air Freight & Logistics - 0.8% | |||||||
163 | Air Transport Services Group, Inc. (a) | 4,615 | |||||
60 | Forward Air Corp. | 6,471 | |||||
264 | GXO Logistics, Inc. (a) | 13,815 | |||||
74 | Hub Group, Inc. - Class A (a) | 6,310 | |||||
31,211 | |||||||
Airlines - 0.2% | |||||||
18 | Copa Holdings S.A. - Class A ADR (a)(b) | 1,657 | |||||
83 | Frontier Group Holdings, Inc. (a) | 1,044 | |||||
182 | JetBlue Airways Corp. (a) | 1,456 | |||||
509 | Joby Aviation, Inc. (a) | 2,250 | |||||
61 | Spirit Airlines, Inc. | 1,210 | |||||
7,617 | |||||||
Alternative Carriers - 0.2% | |||||||
96 | Cogent Communications Holdings, Inc. | 6,583 | |||||
1,561 | Globalstar, Inc. (a) | 2,201 | |||||
8,784 | |||||||
Aluminum - 0.1% | |||||||
226 | Arconic Corp. (a) | 5,313 | |||||
Apparel Retail - 0.6% | |||||||
205 | Foot Locker, Inc. | 8,920 | |||||
517 | Gap, Inc. | 7,016 | |||||
162 | Victoria’s Secret & Co. (a) | 6,828 | |||||
22,764 | |||||||
Apparel, Accessories & Luxury Goods - 1.1% | |||||||
86 | Carter’s, Inc. | 7,170 | |||||
73 | Columbia Sportswear Co. | 7,001 | |||||
778 | Hanesbrands, Inc. | 6,566 | |||||
146 | PVH Corp. | 13,125 | |||||
423 | Under Armour, Inc. - Class A (a) | 5,241 | |||||
436 | Under Armour, Inc. - Class C (a) | 4,752 | |||||
43,855 | |||||||
Application Software - 5.4% | |||||||
254 | ACI Worldwide, Inc. (a) | 7,094 | |||||
106 | Alarm.com Holdings, Inc. (a) | 5,682 | |||||
115 | Altair Engineering, Inc. - Class A (a) | 6,107 | |||||
132 | Alteryx, Inc. - Class A (a) | 7,325 |
The accompanying notes are an integral part of these financial statements.
82
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
40 | Appfolio, Inc. - Class A (a) | $ | 4,493 | ||||
118 | Asana, Inc. - Class A (a) | 1,829 | |||||
117 | Blackbaud, Inc. (a) | 7,279 | |||||
123 | Blackline, Inc. (a) | 8,831 | |||||
308 | Box, Inc. - Class A (a) | 9,853 | |||||
79 | Braze, Inc. - Class A (a) | 2,528 | |||||
178 | Clear Secure, Inc. - Class A | 5,587 | |||||
54 | Clearwater Analytics Holdings, Inc. - Class A (a) | 1,057 | |||||
171 | Coupa Software, Inc. (a) | 13,666 | |||||
135 | Cvent Holding Corp. (a) | 1,089 | |||||
157 | DoubleVerify Holdings, Inc. (a) | 4,269 | |||||
50 | EngageSmart, Inc. (a) | 985 | |||||
122 | Envestnet, Inc. (a) | 7,930 | |||||
62 | EverCommerce, Inc. (a) | 640 | |||||
304 | Freshworks, Inc. - Class A (a) | 4,919 | |||||
36 | Instructure Holdings, Inc. (a) | 973 | |||||
145 | Jamf Holding Corp. (a) | 2,881 | |||||
21 | MicroStrategy, Inc. - Class A (a) | 5,286 | |||||
164 | nCino, Inc. (a) | 4,690 | |||||
294 | NCR Corp. (a) | 8,061 | |||||
117 | New Relic, Inc. (a) | 7,143 | |||||
519 | Nutanix, Inc. - Class A (a) | 14,465 | |||||
182 | PagerDuty, Inc. (a) | 5,422 | |||||
121 | Paycor HCM, Inc. (a) | 3,038 | |||||
94 | Pegasystems, Inc. | 3,655 | |||||
188 | PowerSchool Holdings, Inc. - Class A (a) | 4,234 | |||||
123 | Q2 Holdings, Inc. (a) | 4,025 | |||||
188 | RingCentral, Inc. - Class A (a) | 7,338 | |||||
285 | Smartsheet, Inc. - Class A (a) | 12,315 | |||||
214 | Sprinklr, Inc. - Class A (a) | 2,127 | |||||
102 | Sprout Social, Inc. - Class A (a) | 6,525 | |||||
81 | SPS Commerce, Inc. (a) | 11,022 | |||||
143 | Verint Systems, Inc. (a) | 5,430 | |||||
103 | Workiva, Inc. (a) | 8,913 | |||||
218,706 | |||||||
Asset Management & Custody Banks - 1.3% | |||||||
86 | Affiliated Managers Group, Inc. | 14,856 | |||||
147 | Artisan Partners Asset Management, Inc. - Class A | 5,413 | |||||
56 | Cohen & Steers, Inc. | 4,114 | |||||
188 | Federated Hermes, Inc. | 7,388 | |||||
108 | Focus Financial Partners, Inc. - Class A (a) | 4,876 | |||||
71 | Hamilton Lane, Inc. - Class A | 5,528 | |||||
298 | Janus Henderson Group PLC ADR (b) | 7,724 | |||||
117 | StepStone Group, Inc. - Class A | 3,415 | |||||
53,314 | |||||||
Auto Parts & Equipment - 1.4% | |||||||
211 | Adient PLC ADR (a)(b) | 9,499 | |||||
288 | Dana, Inc. | 5,224 |
The accompanying notes are an integral part of these financial statements.
83
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
59 | Dorman Products, Inc. (a) | $ | 5,727 | ||||
95 | Fox Factory Holding Corp. (a) | 11,219 | |||||
56 | LCI Industries | 6,284 | |||||
483 | Luminar Technologies, Inc. (a) | 3,222 | |||||
504 | QuantumScape Corp. (a)(c) | 4,289 | |||||
63 | Visteon Corp. (a) | 9,849 | |||||
55,313 | |||||||
Automobile Manufacturers - 0.3% | |||||||
362 | Fisker, Inc. (a)(c) | 2,697 | |||||
116 | Thor Industries, Inc. | 11,058 | |||||
13,755 | |||||||
Automotive Retail - 0.6% | |||||||
50 | Asbury Automotive Group, Inc. (a) | 11,000 | |||||
85 | Camping World Holdings, Inc. - Class A | 2,160 | |||||
217 | Carvana Co. (a) | 2,207 | |||||
34 | Group 1 Automotive, Inc. | 7,271 | |||||
22,638 | |||||||
Biotechnology - 3.4% | |||||||
269 | Acadia Pharmaceuticals, Inc. (a) | 5,119 | |||||
365 | Alkermes PLC ADR (a)(b) | 10,454 | |||||
624 | Amicus Therapeutics, Inc. (a) | 8,137 | |||||
227 | Arrowhead Pharmaceuticals, Inc. (a) | 7,943 | |||||
150 | Beam Therapeutics, Inc. (a) | 6,518 | |||||
133 | Blueprint Medicines Corp. (a) | 6,216 | |||||
136 | Cerevel Therapeutics Holdings, Inc. (a) | 4,644 | |||||
205 | Cytokinetics, Inc. (a) | 8,708 | |||||
221 | Denali Therapeutics, Inc. (a) | 6,690 | |||||
561 | EQRx, Inc. (a) | 1,374 | |||||
183 | Fate Therapeutics, Inc. (a) | 1,091 | |||||
296 | Insmed, Inc. (a) | 6,373 | |||||
161 | Intellia Therapeutics, Inc. (a) | 6,833 | |||||
62 | Karuna Therapeutics, Inc. (a) | 12,362 | |||||
112 | Mirati Therapeutics, Inc. (a) | 5,982 | |||||
200 | Natera, Inc. (a) | 8,586 | |||||
175 | Novavax, Inc. (a)(c) | 1,909 | |||||
86 | ProKidney Corp. ADR (a)(b) | 897 | |||||
160 | PTC Therapeutics, Inc. (a) | 7,342 | |||||
199 | Relay Therapeutics, Inc. (a) | 4,271 | |||||
123 | Twist Bioscience Corp. (a) | 3,529 | |||||
147 | Ultragenyx Pharmaceutical, Inc. (a) | 6,664 | |||||
228 | Vir Biotechnology, Inc. (a) | 6,737 | |||||
138,379 | |||||||
Brewers - 0.2% | |||||||
21 | Boston Beer Co., Inc. - Class A (a) | 8,161 | |||||
Broadcasting - 0.2% | |||||||
498 | TEGNA, Inc. | 9,925 |
The accompanying notes are an integral part of these financial statements.
84
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Building Products - 1.2% | |||||||
95 | AAON, Inc. | $ | 7,250 | ||||
101 | Armstrong World Industries, Inc. | 7,818 | |||||
247 | AZEK Co., Inc. (a) | 5,960 | |||||
215 | Hayward Holdings, Inc. (a) | 2,900 | |||||
322 | Resideo Technologies, Inc. (a) | 6,192 | |||||
98 | Simpson Manufacturing Co., Inc. | 10,497 | |||||
322 | Zurn Elkay Water Solutions Corp. - Class C | 7,039 | |||||
47,656 | |||||||
Cable & Satellite - 0.1% | |||||||
485 | Altice USA, Inc. - Class A (a) | 2,377 | |||||
Casinos & Gaming - 0.7% | |||||||
230 | International Game Technology PLC (b) | 6,084 | |||||
210 | Light & Wonder, Inc. (a) | 13,702 | |||||
111 | Red Rock Resorts, Inc. - Class A | 4,996 | |||||
209 | Sportradar Holding AG - Class A ADR (a)(b) | 2,623 | |||||
27,405 | |||||||
Coal & Consumable Fuels - 0.5% | |||||||
41 | Arch Resources, Inc. | 6,069 | |||||
62 | Consol Energy, Inc. | 3,585 | |||||
69 | Enviva, Inc. | 3,138 | |||||
261 | Peabody Energy Corp. (a) | 7,279 | |||||
20,071 | |||||||
Commercial Printing - 0.1% | |||||||
99 | Brady Corp. - Class A | 5,294 | |||||
Commodity Chemicals - 0.3% | |||||||
125 | Cabot Corp. | 9,416 | |||||
256 | Tronox Holdings PLC ADR (b) | 4,390 | |||||
13,806 | |||||||
Communications Equipment - 0.6% | |||||||
129 | Calix, Inc. (a) | 6,791 | |||||
155 | NetScout Systems, Inc. (a) | 4,976 | |||||
168 | Viasat, Inc. (a) | 5,788 | |||||
504 | Viavi Solutions, Inc. (a) | 5,695 | |||||
23,250 | |||||||
Construction Machinery & Heavy Trucks - 0.5% | |||||||
215 | Allison Transmission Holdings, Inc. | 9,692 | |||||
133 | Federal Signal Corp. | 7,082 | |||||
677 | Nikola Corp. (a)(c) | 1,835 | |||||
18,609 | |||||||
Construction Materials - 0.5% | |||||||
82 | Eagle Materials, Inc. | 11,979 | |||||
269 | Summit Materials, Inc. - Class A (a) | 8,839 | |||||
20,818 |
The accompanying notes are an integral part of these financial statements.
85
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Construction & Engineering - 1.2% | |||||||
71 | Ameresco, Inc. - Class A (a) | $ | 4,577 | ||||
435 | API Group Corp. (a) | 9,674 | |||||
107 | Arcosa, Inc. | 6,342 | |||||
80 | Comfort Systems USA, Inc. | 9,683 | |||||
64 | Dycom Industries, Inc. (a) | 6,104 | |||||
315 | Fluor Corp. (a) | 11,576 | |||||
47,956 | |||||||
Consumer Electronics - 0.1% | |||||||
282 | Sonos, Inc. (a) | 5,200 | |||||
Consumer Finance - 0.9% | |||||||
85 | FirstCash Holdings, Inc. | 7,835 | |||||
226 | Navient Corp. | 4,287 | |||||
28 | Nelnet, Inc. - Class A | 2,674 | |||||
254 | OneMain Holdings, Inc. | 10,958 | |||||
557 | SLM Corp. | 9,786 | |||||
35,540 | |||||||
Data Processing & Outsourced Services - 1.6% | |||||||
106 | Euronet Worldwide, Inc. (a) | 11,944 | |||||
149 | Evertec, Inc. ADR (b) | 5,504 | |||||
72 | ExlService Holdings, Inc. (a) | 12,283 | |||||
180 | Flywire Corp. (a) | 4,855 | |||||
1,001 | Marqeta, Inc. - Class A (a) | 6,637 | |||||
135 | Maximus, Inc. | 10,105 | |||||
1 | Paysafe Ltd. ADR (a)(b) | 14 | |||||
112 | Shift4 Payments, Inc. - Class A (a) | 7,172 | |||||
42 | TTEC Holdings, Inc. | 2,135 | |||||
341 | Verra Mobility Corp. (a) | 5,262 | |||||
65,911 | |||||||
Department Stores - 0.7% | |||||||
8 | Dillard’s, Inc. - Class A | 3,146 | |||||
258 | Kohl’s Corp. | 8,351 | |||||
602 | Macy’s, Inc. | 14,225 | |||||
214 | Nordstrom, Inc. | 4,182 | |||||
29,904 | |||||||
Distillers & Vintners - 0.1% | |||||||
32 | MGP Ingredients, Inc. | 3,121 | |||||
Diversified Real Estate Activities - 0.1% | |||||||
82 | St. Joe Co. | 3,862 | |||||
Diversified Support Services - 0.6% | |||||||
789 | Aurora Innovation, Inc. (a) | 1,436 | |||||
139 | Driven Brands Holdings, Inc. (a) | 4,057 | |||||
299 | IAA, Inc. (a) | 12,477 | |||||
34 | UniFirst Corp. | 6,747 | |||||
24,717 |
The accompanying notes are an integral part of these financial statements.
86
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Education Services - 0.7% | |||||||
276 | Chegg, Inc. (a) | $ | 5,730 | ||||
212 | Coursera, Inc. (a) | 3,381 | |||||
58 | Duolingo, Inc. (a) | 5,538 | |||||
8 | Graham Holdings Co. - Class B | 5,226 | |||||
71 | Grand Canyon Education, Inc. (a) | 8,276 | |||||
28,151 | |||||||
Electric Utilities - 1.2% | |||||||
128 | Allete, Inc. | 7,918 | |||||
246 | Hawaiian Electric Industries, Inc. | 10,398 | |||||
81 | MGE Energy, Inc. | 5,922 | |||||
92 | Otter Tail Corp. | 5,902 | |||||
191 | PNM Resources, Inc. | 9,451 | |||||
224 | Portland General Electric Co. | 10,658 | |||||
50,249 | |||||||
Electrical Components & Equipment - 1.6% | |||||||
93 | Atkore, Inc. (a) | 12,113 | |||||
590 | ChargePoint Holdings, Inc. (a)(c) | 7,163 | |||||
40 | Encore Wire Corp. | 6,457 | |||||
90 | EnerSys | 7,472 | |||||
137 | Shoals Technologies Group, Inc. - Class A (a) | 3,821 | |||||
191 | SunPower Corp. (a) | 3,329 | |||||
463 | Sunrun, Inc. (a) | 12,168 | |||||
697 | Vertiv Holdings Co. | 9,911 | |||||
50 | Vicor Corp. (a) | 3,472 | |||||
65,906 | |||||||
Electronic Components - 0.5% | |||||||
96 | Belden, Inc. | 7,785 | |||||
42 | Rogers Corp. (a) | 5,863 | |||||
291 | Vishay Intertechnology, Inc. | 6,661 | |||||
20,309 | |||||||
Electronic Equipment & Instruments - 1.1% | |||||||
83 | Advanced Energy Industries, Inc. | 7,697 | |||||
66 | Badger Meter, Inc. | 7,649 | |||||
101 | Itron, Inc. (a) | 5,804 | |||||
297 | National Instruments Corp. | 16,038 | |||||
353 | Vontier Corp. | 8,130 | |||||
45,318 | |||||||
Electronic Manufacturing Services - 0.3% | |||||||
62 | Plexus Corp. (a) | 5,951 | |||||
126 | Sanmina Corp. (a) | 7,677 | |||||
13,628 | |||||||
Environmental & Facilities Services - 1.0% | |||||||
147 | ABM Industries, Inc. | 6,896 | |||||
113 | Casella Waste Systems, Inc. - Class A (a) | 9,054 | |||||
114 | Clean Harbors, Inc. (a) | 14,854 | |||||
206 | Stericycle, Inc. (a) | 11,085 | |||||
41,889 |
The accompanying notes are an integral part of these financial statements.
87
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Fertilizers & Agricultural Chemicals - 0.2% | |||||||
86 | Scotts Miracle-Gro Co. | $ | 6,208 | ||||
Food Distributors - 0.1% | |||||||
128 | United Natural Foods, Inc. (a) | 5,327 | |||||
Food Retail - 0.3% | |||||||
200 | Grocery Outlet Holding Corp. (a) | 6,078 | |||||
239 | Sprouts Farmers Market, Inc. (a) | 7,636 | |||||
13,714 | |||||||
Footwear - 0.5% | |||||||
134 | Crocs, Inc. (a) | 16,317 | |||||
162 | Steven Madden Ltd. | 5,808 | |||||
22,125 | |||||||
Forest Products - 0.3% | |||||||
165 | Louisiana-Pacific Corp. | 11,235 | |||||
Gas Utilities - 1.1% | |||||||
39 | Chesapeake Utilities Corp. | 4,917 | |||||
217 | New Jersey Resources Corp. | 10,833 | |||||
120 | ONE Gas, Inc. | 9,883 | |||||
274 | South Jersey Industries, Inc. | 9,889 | |||||
115 | Spire, Inc. | 8,305 | |||||
43,827 | |||||||
General Merchandise Stores - 0.2% | |||||||
130 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 7,119 | |||||
Health Care Distributors - 0.3% | |||||||
158 | AdaptHealth Corp. (a) | 3,386 | |||||
165 | Owens & Minor, Inc. (a) | 3,257 | |||||
194 | Patterson Cos., Inc. | 5,857 | |||||
12,500 | |||||||
Health Care Equipment - 2.6% | |||||||
102 | AtriCure, Inc. (a) | 4,415 | |||||
110 | Axonics, Inc. (a) | 6,754 | |||||
68 | CONMED Corp. | 6,512 | |||||
107 | Enovis Corp. (a) | 6,736 | |||||
102 | Glaukos Corp. (a) | 5,003 | |||||
96 | Inari Medical, Inc. (a) | 5,477 | |||||
156 | Inmode Ltd. ADR (a)(b) | 5,468 | |||||
73 | Integer Holdings Corp. (a) | 4,804 | |||||
165 | Integra LifeSciences Holdings Corp. (a) | 9,454 | |||||
66 | iRhythm Technologies, Inc. (a) | 6,488 | |||||
120 | LivaNova PLC ADR (a)(b) | 6,744 | |||||
116 | NuVasive, Inc. (a) | 5,290 | |||||
98 | Omnicell, Inc. (a) | 5,436 | |||||
81 | Penumbra, Inc. (a) | 20,283 | |||||
144 | Tandem Diabetes Care, Inc. (a) | 5,867 | |||||
104,731 |
The accompanying notes are an integral part of these financial statements.
88
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Health Care Facilities - 0.9% | |||||||
347 | Cano Health, Inc. (a) | $ | 479 | ||||
221 | Encompass Health Corp. | 13,801 | |||||
119 | Ensign Group, Inc. | 11,097 | |||||
223 | Select Medical Holdings Corp. | 6,483 | |||||
89 | Surgery Partners, Inc. (a) | 2,955 | |||||
34,815 | |||||||
Health Care Services - 1.6% | |||||||
403 | 1Life Healthcare, Inc. (a) | 6,444 | |||||
75 | Agiliti, Inc. (a) | 1,384 | |||||
72 | Amedisys, Inc. (a) | 6,960 | |||||
97 | AMN Healthcare Services, Inc. (a) | 9,296 | |||||
87 | Apollo Medical Holdings, Inc. (a) | 3,101 | |||||
21 | CorVel Corp. (a) | 3,741 | |||||
219 | Guardant Health, Inc. (a) | 6,883 | |||||
67 | LHC Group, Inc. (a) | 10,626 | |||||
126 | MSP Recovery, Inc. (a) | 146 | |||||
261 | Premier, Inc. - Class A | 8,707 | |||||
115 | Privia Health Group, Inc. (a) | 3,110 | |||||
163 | Signify Health, Inc. - Class A (a) | 4,639 | |||||
65,037 | |||||||
Health Care Supplies - 1.4% | |||||||
115 | Haemonetics Corp. (a) | 9,729 | |||||
51 | ICU Medical, Inc. (a) | 9,855 | |||||
151 | Lantheus Holdings, Inc. (a) | 8,683 | |||||
125 | Merit Medical Systems, Inc. (a) | 8,919 | |||||
471 | Neogen Corp. (a) | 10,084 | |||||
107 | STAAR Surgical Co. (a) | 7,549 | |||||
54,819 | |||||||
Health Care Technology - 0.4% | |||||||
269 | Certara, Inc. (a) | 5,219 | |||||
71 | Definitive Healthcare Corp. (a) | 879 | |||||
195 | Evolent Health, Inc. - Class A (a) | 6,283 | |||||
166 | GoodRx Holdings, Inc. - Class A (a) | 928 | |||||
814 | Multiplan Corp. (a) | 1,074 | |||||
122 | Schrodinger, Inc. (a) | 2,950 | |||||
17,333 | |||||||
Heavy Electrical Equipment - 0.2% | |||||||
361 | Bloom Energy Corp. - Class A (a) | 9,000 | |||||
65 | NuScale Power Corp. (a) | 693 | |||||
9,693 | |||||||
Home Furnishings - 0.6% | |||||||
291 | Leggett & Platt, Inc. | 10,639 | |||||
380 | Tempur Sealy International, Inc. | 15,485 | |||||
26,124 | |||||||
Homebuilding - 1.2% | |||||||
53 | Installed Building Products, Inc. | 5,835 |
The accompanying notes are an integral part of these financial statements.
89
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
171 | KB Home | $ | 6,575 | ||||
46 | LGI Homes, Inc. (a) | 5,237 | |||||
128 | MDC Holdings, Inc. | 4,833 | |||||
81 | Meritage Homes Corp. (a) | 8,723 | |||||
119 | Skyline Champion Corp. (a) | 7,015 | |||||
232 | Taylor Morrison Home Corp. (a) | 8,306 | |||||
46,524 | |||||||
Hotels, Resorts & Cruise Lines - 0.8% | |||||||
194 | Hilton Grand Vacations, Inc. (a) | 9,188 | |||||
946 | Norwegian Cruise Line Holdings Ltd. ADR (a)(b) | 14,389 | |||||
184 | Travel + Leisure Co. | 7,796 | |||||
31,373 | |||||||
Household Appliances - 0.2% | |||||||
54 | Helen of Troy Ltd. ADR (a)(b) | 6,108 | |||||
Household Products - 0.4% | |||||||
89 | Central Garden & Pet Co. - Class A (a) | 3,527 | |||||
21 | Central Garden & Pet Co. (a) | 881 | |||||
90 | Spectrum Brands Holdings, Inc. | 6,109 | |||||
30 | WD-40 Co. | 5,236 | |||||
15,753 | |||||||
Human Resource & Employment Services - 1.3% | |||||||
634 | Alight, Inc. - Class A (a) | 5,953 | |||||
110 | ASGN, Inc. (a) | 10,004 | |||||
81 | Insperity, Inc. | 8,955 | |||||
118 | Korn Ferry | 6,371 | |||||
116 | ManpowerGroup, Inc. | 10,111 | |||||
83 | TriNet Group, Inc. (a) | 6,262 | |||||
271 | Upwork, Inc. (a) | 3,512 | |||||
51,168 | |||||||
Industrial Machinery - 3.1% | |||||||
70 | Albany International Corp. - Class A | 7,851 | |||||
145 | Altra Industrial Motion Corp. | 8,855 | |||||
106 | Crane Holdings Co. | 12,286 | |||||
114 | Esab Corp. | 6,590 | |||||
271 | Evoqua Water Technologies Corp. (a) | 13,146 | |||||
293 | Flowserve Corp. | 10,085 | |||||
88 | Franklin Electric Co., Inc. | 7,946 | |||||
231 | Gates Industrial Corp. PLC ADR (a)(b) | 3,052 | |||||
137 | Hillenbrand, Inc. | 6,420 | |||||
71 | John Bean Technologies Corp. | 7,933 | |||||
26 | Kadant, Inc. | 5,298 | |||||
124 | Mueller Industries, Inc. | 8,128 | |||||
99 | SPX Technologies, Inc. (a) | 7,426 | |||||
147 | Timken Co. | 12,105 | |||||
61 | Watts Water Technologies, Inc. - Class A | 9,975 | |||||
127,096 |
The accompanying notes are an integral part of these financial statements.
90
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Insurance Brokers - 0.1% | |||||||
133 | BRP Group, Inc. - Class A (a) | $ | 3,810 | ||||
46 | Hagerty, Inc. - Class A (a) | 442 | |||||
4,252 | |||||||
Interactive Home Entertainment - 0.1% | |||||||
397 | Playtika Holding Corp. (a) | 4,165 | |||||
Interactive Media & Services - 0.5% | |||||||
158 | Angi, Inc. (a) | 460 | |||||
222 | Cargurus, Inc. (a) | 3,918 | |||||
224 | TripAdvisor, Inc. (a) | 5,219 | |||||
103 | Ziff Davis, Inc. (a) | 9,216 | |||||
18,813 | |||||||
Internet & Direct Marketing Retail - 0.3% | |||||||
168 | Wayfair, Inc. - Class A (a) | 10,164 | |||||
Internet Services & Infrastructure - 0.2% | |||||||
140 | DigitalOcean Holdings, Inc. (a) | 4,109 | |||||
108 | Squarespace, Inc. - Class A (a) | 2,562 | |||||
6,671 | |||||||
Investment Banking & Brokerage - 0.9% | |||||||
73 | Evercore, Inc. - Class A | 9,476 | |||||
244 | Lazard Ltd. - Class A ADR (b) | 9,780 | |||||
143 | Moelis & Co. - Class A | 6,685 | |||||
51 | PJT Partners, Inc. - Class A | 4,082 | |||||
220 | Virtu Financial, Inc. - Class A | 4,248 | |||||
34,271 | |||||||
IT Consulting & Other Services - 0.3% | |||||||
453 | Kyndryl Holdings, Inc. (a) | 6,066 | |||||
76 | Perficient, Inc. (a) | 5,635 | |||||
192 | Thoughtworks Holding, Inc. (a) | 2,074 | |||||
13,775 | |||||||
Leisure Facilities - 0.2% | |||||||
111 | Life Time Group Holdings, Inc. (a) | 2,086 | |||||
88 | SeaWorld Entertainment, Inc. (a) | 5,490 | |||||
7,576 | |||||||
Leisure Products - 0.7% | |||||||
71 | Acushnet Holdings Corp. | 3,333 | |||||
687 | Peloton Interactive, Inc. - Class A (a) | 8,883 | |||||
312 | Topgolf Callaway Brands Corp. (a) | 7,641 | |||||
193 | YETI Holdings, Inc. (a) | 8,639 | |||||
28,496 | |||||||
Life & Health Insurance - 0.9% | |||||||
158 | American Equity Investment Life Holding Co. | 7,529 | |||||
160 | Brighthouse Financial, Inc. (a) | 9,003 | |||||
84 | Primerica, Inc. | 13,587 | |||||
83 | Trupanion, Inc. (a) | 4,899 | |||||
35,018 |
The accompanying notes are an integral part of these financial statements.
91
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Life Sciences Tools & Services - 0.8% | |||||||
198 | 10X Genomics, Inc. - Class A (a) | $ | 9,272 | ||||
166 | Azenta, Inc. (a) | 9,279 | |||||
54 | Medpace Holdings, Inc. (a) | 11,938 | |||||
30,489 | |||||||
Managed Health Care - 0.5% | |||||||
188 | Alignment Healthcare, Inc. (a) | 2,322 | |||||
186 | HealthEquity, Inc. (a) | 11,318 | |||||
166 | Progyny, Inc. (a) | 5,709 | |||||
19,349 | |||||||
Marine - 0.4% | |||||||
133 | Kirby Corp. (a) | 9,414 | |||||
86 | Matson, Inc. | 5,686 | |||||
15,100 | |||||||
Metal & Glass Containers - 0.4% | |||||||
306 | Ardagh Metal Packaging S.A. ADR (b) | 1,720 | |||||
55 | Greif, Inc. - Class A | 3,929 | |||||
10 | Greif, Inc. - Class B | 824 | |||||
189 | Silgan Holdings, Inc. | 10,185 | |||||
16,658 | |||||||
Motorcycle Manufacturers - 0.3% | |||||||
299 | Harley-Davidson, Inc. | 13,763 | |||||
Movies & Entertainment - 0.4% | |||||||
244 | Cinemark Holdings, Inc. (a) | 2,913 | |||||
36 | Madison Square Garden Sports Corp. | 6,546 | |||||
96 | World Wrestling Entertainment, Inc. - Class A | 8,124 | |||||
17,583 | |||||||
Multi-Utilities - 0.6% | |||||||
163 | Avista Corp. | 6,504 | |||||
146 | Black Hills Corp. | 10,567 | |||||
129 | NorthWestern Corp. | 7,327 | |||||
24,398 | |||||||
Office Services & Supplies - 0.3% | |||||||
84 | MSA Safety, Inc. | 11,457 | |||||
Oil & Gas Drilling - 0.7% | |||||||
211 | Helmerich & Payne, Inc. | 10,221 | |||||
478 | Patterson-UTI Energy, Inc. | 8,030 | |||||
135 | Valaris Ltd. ADR (a)(b) | 9,806 | |||||
28,057 | |||||||
Oil & Gas Equipment & Services - 0.8% | |||||||
136 | Cactus, Inc. - Class A | 7,359 | |||||
447 | ChampionX Corp. | 14,760 | |||||
372 | Liberty Energy, Inc. | 5,889 | |||||
479 | NexTier Oilfield Solutions, Inc. (a) | 4,512 | |||||
32,520 |
The accompanying notes are an integral part of these financial statements.
92
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Oil & Gas Exploration & Production - 2.4% | |||||||
168 | California Resources Corp. | $ | 7,179 | ||||
136 | Callon Petroleum Co. (a) | 5,787 | |||||
89 | Chord Energy Corp. | 12,756 | |||||
115 | Civitas Resources, Inc. | 7,653 | |||||
410 | CNX Resources Corp. (a) | 6,859 | |||||
203 | Comstock Resources, Inc. | 2,466 | |||||
87 | Crescent Energy Co. - Class A | 1,049 | |||||
109 | Denbury, Inc. (a) | 9,459 | |||||
31 | HighPeak Energy, Inc. | 867 | |||||
378 | Magnolia Oil & Gas Corp. - Class A | 8,925 | |||||
336 | Murphy Oil Corp. | 14,653 | |||||
161 | Sitio Royalties Corp. - Class A | 4,278 | |||||
271 | SM Energy Co. | 8,908 | |||||
167 | Viper Energy Partners LP | 5,302 | |||||
96,141 | |||||||
Oil & Gas Refining & Marketing - 0.3% | |||||||
66 | CVR Energy, Inc. | 2,191 | |||||
248 | PBF Energy, Inc. - Class A | 10,414 | |||||
12,605 | |||||||
Oil & Gas Storage & Transportation - 1.0% | |||||||
716 | Antero Midstream Corp. | 7,804 | |||||
218 | DT Midstream, Inc. | 11,916 | |||||
970 | Equitrans Midstream Corp. | 7,033 | |||||
40 | Excelerate Energy, Inc. - Class A | 932 | |||||
225 | Golar LNG Ltd. ADR (a)(b) | 5,274 | |||||
36 | Kinetik Holdings, Inc. | 1,126 | |||||
116 | Scorpio Tankers, Inc. ADR (b) | 5,553 | |||||
39,638 | |||||||
Other Diversified Financial Services - 0.2% | |||||||
170 | Jackson Financial, Inc. - Class A | 7,487 | |||||
Packaged Foods & Meats - 1.6% | |||||||
88 | Cal-Maine Foods, Inc. | 5,035 | |||||
104 | Freshpet, Inc. (a) | 6,586 | |||||
304 | Hostess Brands, Inc. (a) | 7,032 | |||||
26 | J&J Snack Foods Corp. | 3,726 | |||||
44 | Lancaster Colony Corp. | 8,444 | |||||
122 | Post Holdings, Inc. (a) | 11,584 | |||||
1 | Seaboard Corp. | 3,921 | |||||
218 | Simply Good Foods Co. (a) | 7,913 | |||||
34 | Tootsie Roll Industries, Inc. | 1,521 | |||||
124 | TreeHouse Foods, Inc. (a) | 6,005 | |||||
158 | Utz Brands, Inc. | 2,632 | |||||
64,399 | |||||||
Personal Products - 0.4% | |||||||
293 | BellRing Brands, Inc. (a) | 8,309 | |||||
239 | Herbalife Nutrition Ltd. ADR (a)(b) | 4,199 |
The accompanying notes are an integral part of these financial statements.
93
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
41 | Inter Parfums, Inc. | $ | 4,847 | ||||
17,355 | |||||||
Pharmaceuticals - 0.8% | |||||||
103 | Arvinas, Inc. (a) | 3,375 | |||||
207 | Corcept Therapeutics, Inc. (a) | 4,732 | |||||
62 | Harmony Biosciences Holdings, Inc. (a) | 2,987 | |||||
194 | Intra-Cellular Therapies, Inc. (a) | 9,296 | |||||
100 | Pacira BioSciences, Inc. (a) | 3,927 | |||||
111 | Prestige Consumer Healthcare, Inc. (a) | 7,299 | |||||
57 | Tricida, Inc. (a) | 2 | |||||
31,618 | |||||||
Property & Casualty Insurance - 1.8% | |||||||
132 | Assured Guaranty Ltd. ADR (b) | 8,263 | |||||
172 | Axis Capital Holdings Ltd. ADR (b) | 10,762 | |||||
73 | Hanover Insurance Group, Inc. | 9,824 | |||||
140 | Kemper Corp. | 8,222 | |||||
60 | Mercury General Corp. | 2,144 | |||||
99 | RLI Corp. | 13,113 | |||||
134 | Selective Insurance Group, Inc. | 12,730 | |||||
6 | White Mountains Insurance Group Ltd. ADR (b) | 9,168 | |||||
74,226 | |||||||
Publishing - 0.1% | |||||||
96 | John Wiley & Sons, Inc. - Class A | 4,397 | |||||
Real Estate Development - 0.2% | |||||||
81 | Howard Hughes Corp. (a) | 6,925 | |||||
Real Estate Operating Companies - 0.3% | |||||||
361 | DigitalBridge Group, Inc. | 5,343 | |||||
264 | Kennedy-Wilson Holdings, Inc. | 4,720 | |||||
656 | WeWork, Inc. - Class A (a) | 1,043 | |||||
11,106 | |||||||
Real Estate Services - 0.3% | |||||||
366 | Cushman & Wakefield PLC ADR (a)(b) | 5,281 | |||||
311 | Newmark Group, Inc. - Class A | 2,665 | |||||
1,115 | Opendoor Technologies, Inc. (a) | 2,442 | |||||
10,388 | |||||||
Regional Banks - 6.6% | |||||||
147 | Ameris Bancorp | 6,933 | |||||
324 | Associated Banc-Corp | 7,261 | |||||
165 | Atlantic Union Bankshares Corp. | 6,384 | |||||
40 | BancFirst Corp. | 3,445 | |||||
89 | Bank of Hawaii Corp. | 6,808 | |||||
249 | Bank OZK | 11,372 | |||||
173 | BankUnited, Inc. | 6,512 | |||||
403 | Cadence Bank | 10,309 | |||||
157 | Cathay General Bancorp | 6,902 | |||||
176 | Columbia Banking System, Inc. | 5,440 |
The accompanying notes are an integral part of these financial statements.
94
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
119 | Community Bank System, Inc. | $ | 6,867 | ||||
297 | CVB Financial Corp. | 7,193 | |||||
362 | Eastern Bankshares, Inc. | 5,854 | |||||
409 | First BanCorp ADR (b) | 5,501 | |||||
286 | First Hawaiian, Inc. | 7,848 | |||||
178 | First Interstate BancSystem, Inc. - Class A | 6,387 | |||||
131 | First Merchants Corp. | 5,586 | |||||
779 | FNB Corp. | 11,116 | |||||
369 | Fulton Financial Corp. | 6,173 | |||||
187 | Hancock Whitney Corp. | 9,627 | |||||
427 | Home BancShares, Inc. | 10,192 | |||||
101 | Independent Bank Corp. | 8,049 | |||||
79 | Independent Bank Group, Inc. | 4,843 | |||||
125 | International Bancshares Corp. | 5,859 | |||||
649 | Old National Bancorp | 11,357 | |||||
209 | Pacific Premier Bancorp, Inc. | 6,759 | |||||
265 | PacWest Bancorp | 7,330 | |||||
112 | ServisFirst Bancshares, Inc. | 7,636 | |||||
69 | Silvergate Capital Corp. - Class A (a)(c) | 983 | |||||
276 | Simmons First National Corp. - Class A | 6,158 | |||||
110 | Texas Capital Bancshares, Inc. (a) | 7,268 | |||||
89 | UMB Financial Corp. | 8,027 | |||||
484 | Umpqua Holdings Corp. | 8,809 | |||||
296 | United Bankshares, Inc. | 11,899 | |||||
232 | United Community Banks, Inc. | 7,549 | |||||
135 | Wintrust Financial Corp. | 12,348 | |||||
268,584 | |||||||
Reinsurance - 0.1% | |||||||
24 | Enstar Group Ltd. ADR (a)(b) | 5,815 | |||||
Renewable Electricity - 0.3% | |||||||
97 | Ormat Technologies, Inc. | 8,977 | |||||
222 | Sunnova Energy International, Inc. (a) | 4,325 | |||||
13,302 | |||||||
Research & Consulting Services - 0.7% | |||||||
110 | CBIZ, Inc. (a) | 5,235 | |||||
114 | Exponent, Inc. | 11,690 | |||||
124 | Science Applications International Corp. | 12,869 | |||||
29,794 | |||||||
Restaurants - 0.7% | |||||||
149 | Krispy Kreme, Inc. | 1,818 | |||||
73 | Papa John’s International, Inc. | 6,547 | |||||
373 | Wendy’s Co. | 8,318 | |||||
67 | Wingstop, Inc. | 10,617 | |||||
27,300 | |||||||
Security & Alarm Services - 0.2% | |||||||
102 | Brink’s Co. | 6,691 |
The accompanying notes are an integral part of these financial statements.
95
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
Semiconductor Equipment - 0.9% | |||||||
239 | Amkor Technology, Inc. | $ | 6,993 | ||||
73 | Axcelis Technologies, Inc. (a) | 8,026 | |||||
172 | FormFactor, Inc. (a) | 4,840 | |||||
127 | Kulicke & Soffa Industries, Inc. | 6,490 | |||||
110 | Onto Innovation, Inc. (a) | 8,652 | |||||
35,001 | |||||||
Semiconductors - 2.0% | |||||||
82 | Ambarella, Inc. ADR (a)(b) | 7,367 | |||||
126 | Cirrus Logic, Inc. (a) | 11,389 | |||||
99 | Diodes, Inc. (a) | 8,830 | |||||
114 | MACOM Technology Solutions Holdings, Inc. (a) | 7,640 | |||||
163 | MaxLinear, Inc. (a) | 6,716 | |||||
126 | Power Integrations, Inc. | 10,847 | |||||
247 | Rambus, Inc. (a) | 9,996 | |||||
141 | Semtech Corp. (a) | 4,657 | |||||
73 | Silicon Laboratories, Inc. (a) | 11,454 | |||||
34 | SiTime Corp. (a) | 3,918 | |||||
82,814 | |||||||
Silver - 0.2% | |||||||
1,238 | Hecla Mining Co. | 7,638 | |||||
Soft Drinks - 0.2% | |||||||
11 | Coca-Cola Consolidated, Inc. | 5,575 | |||||
53 | National Beverage Corp. (a) | 2,343 | |||||
7,918 | |||||||
Specialized Consumer Services - 0.0% (d) | |||||||
180 | Mister Car Wash, Inc. (a) | 1,849 | |||||
Specialty Chemicals - 2.2% | |||||||
202 | Avient Corp. | 8,185 | |||||
72 | Balchem Corp. | 9,405 | |||||
172 | Diversey Holdings Ltd. ADR (a)(b) | 1,044 | |||||
517 | Element Solutions, Inc. | 10,588 | |||||
2,490 | Ginkgo Bioworks Holdings, Inc. (a) | 4,856 | |||||
119 | HB Fuller Co. | 8,223 | |||||
80 | Ingevity Corp. (a) | 6,595 | |||||
55 | Innospec, Inc. | 6,216 | |||||
400 | Livent Corp. (a) | 10,368 | |||||
16 | NewMarket Corp. | 5,512 | |||||
31 | Quaker Chemical Corp. | 6,103 | |||||
94 | Sensient Technologies Corp. | 7,115 | |||||
48 | Stepan Co. | 5,272 | |||||
89,482 | |||||||
Specialty Stores - 0.8% | |||||||
177 | Academy Sports & Outdoors, Inc. | 10,340 | |||||
316 | Leslie’s, Inc. (a) | 4,895 | |||||
177 | National Vision Holdings, Inc. (a) | 7,275 |
The accompanying notes are an integral part of these financial statements.
96
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
179 | Petco Health & Wellness Co., Inc. (a) | $ | 2,093 | ||||
98 | Signet Jewelers Ltd. ADR (b) | 7,527 | |||||
32,130 | |||||||
Steel - 0.8% | |||||||
34 | Alpha Metallurgical Resources, Inc. | 5,472 | |||||
291 | ATI, Inc. (a) | 10,589 | |||||
261 | Commercial Metals Co. | 14,164 | |||||
69 | Worthington Industries, Inc. | 3,924 | |||||
34,149 | |||||||
Systems Software - 1.4% | |||||||
90 | Appian Corp. - Class A (a) | 3,723 | |||||
99 | CommVault Systems, Inc. (a) | 6,161 | |||||
190 | KnowBe4, Inc. - Class A (a) | 4,729 | |||||
35 | Monday.com Ltd. ADR (a)(b) | 4,557 | |||||
78 | Qualys, Inc. (a) | 8,998 | |||||
128 | Rapid7, Inc. (a) | 5,103 | |||||
248 | Tenable Holdings, Inc. (a) | 9,977 | |||||
227 | Teradata Corp. (a) | 7,918 | |||||
241 | Varonis Systems, Inc. (a) | 6,227 | |||||
57,393 | |||||||
Technology Distributors - 0.5% | |||||||
212 | Avnet, Inc. | 9,727 | |||||
78 | Insight Enterprises, Inc. (a) | 8,792 | |||||
18,519 | |||||||
Technology Hardware, Storage & Peripherals - 0.3% | |||||||
102 | Super Micro Computer, Inc. (a) | 7,378 | |||||
245 | Xerox Holdings Corp. | 4,013 | |||||
11,391 | |||||||
Thrifts & Mortgage Finance - 1.9% | |||||||
128 | Axos Financial, Inc. (a) | 6,159 | |||||
87 | Columbia Financial, Inc. (a) | 1,727 | |||||
67 | Enact Holdings, Inc. | 1,685 | |||||
237 | Essent Group Ltd. ADR (b) | 10,435 | |||||
676 | MGIC Investment Corp. | 9,545 | |||||
146 | Mr. Cooper Group, Inc. (a) | 6,715 | |||||
1,494 | New York Community Bancorp, Inc. | 14,925 | |||||
58 | PennyMac Financial Services, Inc. | 3,910 | |||||
360 | Radian Group, Inc. | 7,956 | |||||
116 | TFS Financial Corp. | 1,653 | |||||
69 | Walker & Dunlop, Inc. | 6,581 | |||||
141 | WSFS Financial Corp. | 6,812 | |||||
78,103 | |||||||
Tires & Rubber - 0.2% | |||||||
634 | Goodyear Tire & Rubber Co. (a) | 7,133 | |||||
Trading Companies & Distributors - 2.2% | |||||||
232 | Air Lease Corp. | 10,433 | |||||
86 | Applied Industrial Technologies, Inc. | 12,316 |
The accompanying notes are an integral part of these financial statements.
97
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
112 | Beacon Roofing Supply, Inc. (a) | $ | 6,371 | ||||
87 | Boise Cascade Co. | 6,522 | |||||
79 | GATX Corp. | 9,042 | |||||
56 | Herc Holdings, Inc. | 8,698 | |||||
103 | MSC Industrial Direct Co., Inc. - Class A | 8,518 | |||||
94 | Rush Enterprises, Inc. - Class A | 5,058 | |||||
11 | Rush Enterprises, Inc. - Class B | 640 | |||||
137 | Triton International Ltd. ADR (b) | 9,678 | |||||
375 | Univar Solutions, Inc. (a) | 12,930 | |||||
90,206 | |||||||
Trucking - 0.7% | |||||||
677 | Lyft, Inc. - Class A (a) | 11,001 | |||||
108 | Ryder System, Inc. | 10,196 | |||||
90 | Schneider National, Inc. - Class B | 2,385 | |||||
126 | Werner Enterprises, Inc. | 5,918 | |||||
29,500 | |||||||
Water Utilities - 0.4% | |||||||
83 | American States Water Co. | 7,816 | |||||
121 | California Water Service Group | 7,402 | |||||
15,218 | |||||||
Wireless Telecommunication Services - 0.0% (d) | |||||||
33 | United States Cellular Corp. (a) | 807 | |||||
TOTAL COMMON STOCKS (Cost $3,560,994) | 3,773,112 | ||||||
REAL ESTATE INVESTMENT TRUSTS - 6.3% | |||||||
Diversified REITs - 0.3% | |||||||
336 | Broadstone Net Lease, Inc. | 6,085 | |||||
317 | Essential Properties Realty Trust, Inc. | 8,077 | |||||
14,162 | |||||||
Health Care REITs - 0.5% | |||||||
96 | National Health Investors, Inc. | 5,648 | |||||
505 | Physicians Realty Trust | 8,009 | |||||
512 | Sabra Health Care REIT, Inc. | 6,912 | |||||
20,569 | |||||||
Hotel & Resort REITs - 0.9% | |||||||
458 | Apple Hospitality REIT, Inc. | 8,120 | |||||
468 | Park Hotels & Resorts, Inc. | 6,884 | |||||
292 | Pebblebrook Hotel Trust | 4,789 | |||||
118 | Ryman Hospitality Properties, Inc. | 10,961 | |||||
470 | Sunstone Hotel Investors, Inc. | 5,165 | |||||
35,919 | |||||||
Industrial REITs - 0.6% | |||||||
62 | Innovative Industrial Properties, Inc. | 5,566 | |||||
616 | LXP Industrial Trust | 7,115 | |||||
166 | Terreno Realty Corp. | 10,695 | |||||
23,376 | |||||||
Mortgage REITs - 1.0% | |||||||
369 | Arbor Realty Trust, Inc. | 5,509 |
The accompanying notes are an integral part of these financial statements.
98
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Shares | Value | ||||||
365 | Blackstone Mortgage Trust, Inc. - Class A | $ | 8,702 | ||||
512 | Chimera Investment Corp. | 3,732 | |||||
266 | Claros Mortgage Trust, Inc. | 4,453 | |||||
194 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 7,161 | |||||
1,044 | Rithm Capital Corp. | 9,824 | |||||
39,381 | |||||||
Office REITs - 1.2% | |||||||
251 | Corporate Office Properties Trust | 7,046 | |||||
339 | Cousins Properties, Inc. | 9,295 | |||||
382 | Douglas Emmett, Inc. | 6,398 | |||||
234 | Equity Commonwealth | 5,972 | |||||
233 | Highwoods Properties, Inc. | 7,076 | |||||
256 | JBG SMITH Properties | 5,156 | |||||
147 | SL Green Realty Corp. | 6,049 | |||||
46,992 | |||||||
Residential REITs - 0.2% | |||||||
496 | Independence Realty Trust, Inc. | 9,340 | |||||
Retail REITs - 0.8% | |||||||
489 | Kite Realty Group Trust | 10,611 | |||||
480 | Macerich Co. | 6,595 | |||||
261 | Phillips Edison & Co., Inc. | 8,749 | |||||
412 | SITE Centers Corp. | 5,624 | |||||
31,579 | |||||||
Specialized REITs - 0.8% | |||||||
166 | EPR Properties | 7,052 | |||||
181 | Four Corners Property Trust, Inc. | 5,206 | |||||
327 | Outfront Media, Inc. | 6,507 | |||||
178 | PotlatchDeltic Corp. | 8,713 | |||||
58 | Safehold, Inc. | 2,028 | |||||
529 | Uniti Group, Inc. | 3,486 | |||||
32,992 | |||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $235,751) | 254,310 | ||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.4% | |||||||
16,973 | First American Government Obligations Fund - Class X, 4.14% (e) | 16,973 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $16,973) | 16,973 | ||||||
MONEY MARKET FUNDS - 0.5% | |||||||
22,998 | First American Government Obligations Fund - Class X, 4.14% (e) | 22,998 | |||||
TOTAL MONEY MARKET FUNDS (Cost $22,998) | 22,998 | ||||||
TOTAL INVESTMENTS (Cost $3,836,716) - 100.5% | $ | 4,067,393 | |||||
Liabilities in Excess of Other Assets - (0.5%) | (21,372 | ) | |||||
TOTAL NET ASSETS - 100.0% | $ | 4,046,021 |
The accompanying notes are an integral part of these financial statements.
99
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
January 31, 2023 (Unaudited) |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Non-income producing security. |
(b) | Foreign issued security. |
(c) | This security or a portion of this security was out on loan as of January 31, 2023. Total loaned securities had a market value of $17,277 as of January 31, 2023. |
(d) | Represents less than 0.05% of net assets. |
(e) | Rate shown is the 7-day effective yield. |
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”).
GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.
The accompanying notes are an integral part of these financial statements.
100
STATEMENTS OF ASSETS AND LIABILITIES
January 31, 2023 (Unaudited)
Strive
U.S. Energy ETF |
Strive
500 ETF |
Strive
U.S. Semiconductor ETF |
Strive Emerging Markets Ex-China ETF |
|||||||||||||
Assets: | ||||||||||||||||
Investments in securities, at value | $ | 403,333,515 | $ | 113,616,912 | $ | 17,309,134 | $ | 100,649,891 | ||||||||
Receivable for return of capital | 155,656 | 2,504 | - | - | ||||||||||||
Dividends and interest receivable | 101,546 | 80,957 | 8,951 | - | ||||||||||||
Securities lending income receivable (Note 4) | 94 | 230 | 61 | - | ||||||||||||
Receivable for fund shares sold | - | 1,273,290 | - | 102,973,800 | ||||||||||||
Total assets | 403,590,811 | 114,973,893 | 17,318,146 | 203,623,691 | ||||||||||||
Liabilities: | ||||||||||||||||
Accrued investment advisory fees | 137,850 | 4,787 | 5,198 | 22 | ||||||||||||
Payable for investment securities purchased | - | 1,244,187 | - | 100,834,629 | ||||||||||||
Due to securities lending agent (Note 4) | - | 40,470 | 66,916 | - | ||||||||||||
Spot trade payable | - | - | - | 3,851 | ||||||||||||
Total liabilities | 137,850 | 1,289,444 | 72,114 | 100,838,502 | ||||||||||||
Net Assets | $ | 403,452,961 | $ | 113,684,449 | $ | 17,246,032 | $ | 102,785,189 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in capital | $ | 364,047,487 | $ | 107,151,725 | $ | 15,250,708 | $ | 102,973,800 | ||||||||
Total distributable earnings (accumulated deficit) | 39,405,474 | 6,532,724 | 1,995,324 | (188,611 | ) | |||||||||||
Net Assets: | $ | 403,452,961 | $ | 113,684,449 | $ | 17,246,032 | $ | 102,785,189 | ||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||
Net Assets | $ | 403,452,961 | $ | 113,684,449 | $ | 17,246,032 | $ | 102,785,189 | ||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 13,370,000 | 4,400,000 | 620,000 | 4,100,000 | ||||||||||||
Net Asset Value per Share | $ | 30.18 | $ | 25.84 | $ | 27.82 | $ | 25.07 | ||||||||
Cost of Investments in Securities | $ | 367,864,297 | $ | 107,435,488 | $ | 15,261,818 | $ | 100,832,965 |
The accompanying notes are an integral part of these financial statements.
101
STRIVE ETFs
STATEMENTS OF ASSETS AND LIABILITIES
January 31, 2023 (Unaudited)
Strive
1000 Dividend Growth ETF |
Strive
1000 Growth ETF |
Strive
1000 Value ETF |
Strive Small-Cap ETF |
|||||||||||||
Assets: | ||||||||||||||||
Investments in securities, at value | $ | 5,228,036 | $ | 4,056,813 | $ | 2,622,112 | $ | 4,067,393 | ||||||||
Dividends and interest receivable | 4,341 | 1,487 | 3,088 | 795 | ||||||||||||
Securities lending income receivable (Note 4) | 4 | 7 | 22 | 147 | ||||||||||||
Receivable for return of capital | - | - | 154 | 104 | ||||||||||||
Receivable for investments sold | - | - | - | 5 | ||||||||||||
Cash | - | - | - | 2 | ||||||||||||
Total assets | 5,232,381 | 4,058,307 | 2,625,376 | 4,068,446 | ||||||||||||
Liabilities: | ||||||||||||||||
Accrued investment advisory fees | 1,014 | 455 | 392 | 533 | ||||||||||||
Due to securities lending agent (Note 4) | - | 1,453 | 2,280 | 16,973 | ||||||||||||
Payable for investment securities purchased | - | - | - | 4,919 | ||||||||||||
Total liabilities | 1,014 | 1,908 | 2,672 | 22,425 | ||||||||||||
Net Assets | $ | 5,231,367 | $ | 4,056,399 | $ | 2,622,704 | $ | 4,046,021 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in capital | $ | 5,066,090 | $ | 3,734,215 | $ | 2,445,000 | $ | 3,681,266 | ||||||||
Total distributable earnings (accumulated deficit) | 165,277 | 322,184 | 177,704 | 364,755 | ||||||||||||
Net Assets: | $ | 5,231,367 | $ | 4,056,399 | $ | 2,622,704 | $ | 4,046,021 | ||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||
Net Assets | $ | 5,231,367 | $ | 4,056,399 | $ | 2,622,704 | $ | 4,046,021 | ||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 200,000 | 150,000 | 100,000 | 150,000 | ||||||||||||
Net Asset Value per Share | $ | 26.16 | $ | 27.04 | $ | 26.23 | $ | 26.97 | ||||||||
Cost of Investments in Securities | $ | 5,064,537 | $ | 3,735,807 | $ | 2,448,373 | $ | 3,836,716 |
The accompanying notes are an integral part of these financial statements.
102
STATEMENTS OF OPERATIONS
For the Period Ended January 31, 2023 (Unaudited)
Strive
U.S. Energy ETF(1) |
Strive
500 ETF(2) |
Strive
U.S. Semiconductor ETF(3) |
Strive Emerging Markets Ex-China ETF(4) |
|||||||||||||
Investment Income: | ||||||||||||||||
Dividend income (net of foreign withholding tax of $2,892, $0, $0, and $0, respectively) | $ | 5,341,571 | $ | 432,752 | $ | 50,400 | $ | - | ||||||||
Interest income | 18,692 | 3,882 | 431 | - | ||||||||||||
Securities lending income | 122 | 285 | 85 | - | ||||||||||||
Total investment income | 5,360,385 | 436,919 | 50,916 | - | ||||||||||||
Expenses: | ||||||||||||||||
Investment advisory fees | 673,433 | 14,968 | 13,841 | 22 | ||||||||||||
Net expenses | 673,433 | 14,968 | 13,841 | 22 | ||||||||||||
Net Investment Income (Loss) | 4,686,952 | 421,951 | 37,075 | (22 | ) | |||||||||||
Realized and Unrealized Gain (Loss) on Investments: | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 3,849,012 | 267,288 | (56,244 | ) | - | |||||||||||
3,849,012 | 267,288 | (56,244 | ) | - | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | 35,469,218 | 6,181,424 | 2,047,316 | (189,006 | ) | |||||||||||
Foreign currency | - | - | - | 417 | ||||||||||||
35,469,218 | 6,181,424 | 2,047,316 | (188,589 | ) | ||||||||||||
Net realized and unrealized gain (loss) on investments: | 39,318,230 | 6,448,712 | 1,991,072 | (188,589 | ) | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 44,005,182 | $ | 6,870,663 | $ | 2,028,147 | $ | (188,611 | ) |
(1) | The Fund commenced operations on August 9, 2022. |
(2) | The Fund commenced operations on September 15, 2022. |
(3) | The Fund commenced operations on October 6, 2022. |
(4) | The Fund commenced operations on January 31, 2023. |
The accompanying notes are an integral part of these financial statements.
103
STRIVE ETFs
STATEMENTS OF OPERATIONS
For the Period Ended January 31, 2023 (Unaudited)
Strive
1000 Dividend Growth ETF(1) |
Strive
1000 Growth ETF(1) |
Strive
1000 Value ETF(1) |
Strive Small-Cap ETF(1) |
|||||||||||||
Investment Income: | ||||||||||||||||
Dividend income (net of foreign withholding tax of $0, $0, $1, and $6, respectively) | $ | 13,191 | $ | 6,102 | $ | 16,563 | $ | 9,874 | ||||||||
Interest income | 66 | 78 | 71 | 103 | ||||||||||||
Securities lending income | 5 | 9 | 28 | 181 | ||||||||||||
Total investment income | 13,262 | 6,189 | 16,662 | 10,158 | ||||||||||||
Expenses: | ||||||||||||||||
Investment advisory fees | 2,305 | 1,122 | 1,042 | 1,182 | ||||||||||||
Net expenses | 2,305 | 1,122 | 1,042 | 1,182 | ||||||||||||
Net Investment Income | 10,957 | 5,067 | 15,620 | 8,976 | ||||||||||||
Realized and Unrealized Gain on Investments: | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | (1,957 | ) | 46 | 8 | 132,624 | |||||||||||
(1,957 | ) | 46 | 8 | 132,624 | ||||||||||||
Net change in unrealized appreciation on: | ||||||||||||||||
Investments | 163,499 | 321,006 | 173,739 | 230,677 | ||||||||||||
163,499 | 321,006 | 173,739 | 230,677 | |||||||||||||
Net realized and unrealized gain on investments: | 161,542 | 321,052 | 173,747 | 363,301 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 172,499 | $ | 326,119 | $ | 189,367 | $ | 372,277 |
(1) | The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
104
STATEMENTS OF CHANGES IN NET ASSETS
Strive
U.S. Energy ETF For the Period Ended January 31, 2023 (Unaudited)(1) |
Strive
500 ETF For the Period Ended January 31, 2023 (Unaudited)(2) |
Strive
U.S. Semiconductor ETF For the Period Ended January 31, 2023 (Unaudited)(3) |
Strive Emerging Markets Ex- China ETF For the Period Ended January 31, 2023 (Unaudited)(4) |
|||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||
Operations: | ||||||||||||||||
Net investment income (loss) | $ | 4,686,952 | $ | 421,951 | $ | 37,075 | $ | (22 | ) | |||||||
Net realized gain (loss) on investments | 3,849,012 | 267,288 | (56,244 | ) | - | |||||||||||
Net change in unrealized appreciation (depreciation) on investments | 35,469,218 | 6,181,424 | 2,047,316 | (188,589 | ) | |||||||||||
Net increase (decrease) in net assets resulting from operations | 44,005,182 | 6,870,663 | 2,028,147 | (188,611 | ) | |||||||||||
Distributions to Shareholders: | ||||||||||||||||
Net investment income | (4,599,708 | ) | (337,939 | ) | (32,823 | ) | - | |||||||||
Total distributions to shareholders | (4,599,708 | ) | (337,939 | ) | (32,823 | ) | - | |||||||||
Capital Share Transactions: | ||||||||||||||||
Proceeds from shares sold | 409,305,361 | 112,000,165 | 17,252,966 | 102,973,800 | ||||||||||||
Payments for shares redeemed | (45,257,875 | ) | (4,848,440 | ) | (2,002,258 | ) | - | |||||||||
Transaction fees (See Note 1) | 1 | - | - | - | ||||||||||||
Net increase in net assets derived from net change in capital share transactions | 364,047,487 | 107,151,725 | 15,250,708 | 102,973,800 | ||||||||||||
Net Increase in Net Assets | 403,452,961 | 113,684,449 | 17,246,032 | 102,785,189 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | - | - | - | - | ||||||||||||
End of period | $ | 403,452,961 | $ | 113,684,449 | $ | 17,246,032 | $ | 102,785,189 | ||||||||
Changes in Shares Outstanding: | ||||||||||||||||
Shares outstanding, beginning of period | - | - | - | - | ||||||||||||
Shares sold | 14,990,000 | 4,600,000 | 710,000 | 4,100,000 | ||||||||||||
Shares repurchased | (1,620,000 | ) | (200,000 | ) | (90,000 | ) | - | |||||||||
Shares outstanding, end of period | 13,370,000 | 4,400,000 | 620,000 | 4,100,000 |
(1) | The Fund commenced operations on August 9, 2022. |
(2) | The Fund commenced operations on September 15, 2022. |
(3) | The Fund commenced operations on October 6, 2022. |
(4) | The Fund commenced operations on January 31, 2023. |
The accompanying notes are an integral part of these financial statements.
105
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive
1000 Dividend Growth ETF |
Strive
1000 Growth ETF |
Strive
1000 Value ETF |
Strive Small-Cap ETF |
|||||||||||||
For
the Period Ended January 31, 2023 (Unaudited)(1) |
For
the Period Ended January 31, 2023 (Unaudited)(1) |
For
the Period Ended January 31, 2023 (Unaudited)(1) |
For
the Period Ended January 31, 2023 (Unaudited)(1) |
|||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||
Operations: | ||||||||||||||||
Net investment income | $ | 10,957 | $ | 5,067 | $ | 15,620 | $ | 8,976 | ||||||||
Net realized gain (loss) on investments | (1,957 | ) | 46 | 8 | 132,624 | |||||||||||
Net change in unrealized appreciation on investments | 163,499 | 321,006 | 173,739 | 230,677 | ||||||||||||
Net increase in net assets resulting from operations | 172,499 | 326,119 | 189,367 | 372,277 | ||||||||||||
Distributions to Shareholders: | ||||||||||||||||
Net investment income | (7,222 | ) | (3,935 | ) | (11,663 | ) | (7,522 | ) | ||||||||
Total distributions to shareholders | (7,222 | ) | (3,935 | ) | (11,663 | ) | (7,522 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Proceeds from shares sold | 5,066,090 | 3,734,215 | 2,445,000 | 4,996,380 | ||||||||||||
Payments for shares redeemed | - | - | - | (1,315,115 | ) | |||||||||||
Transaction fees (See Note 1) | - | - | - | 1 | ||||||||||||
Net increase in net assets derived from net change in capital share transactions | 5,066,090 | 3,734,215 | 2,445,000 | 3,681,266 | ||||||||||||
Net Increase in Net Assets | 5,231,367 | 4,056,399 | 2,622,704 | 4,046,021 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | - | - | - | - | ||||||||||||
End of period | $ | 5,231,367 | $ | 4,056,399 | $ | 2,622,704 | $ | 4,046,021 | ||||||||
Changes in Shares Outstanding: | ||||||||||||||||
Shares outstanding, beginning of period | - | - | - | - | ||||||||||||
Shares sold | 200,000 | 150,000 | 100,000 | 200,000 | ||||||||||||
Shares repurchased | - | - | - | (50,000 | ) | |||||||||||
Shares outstanding, end of period | 200,000 | 150,000 | 100,000 | 150,000 |
(1) | The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
106
FINANCIAL HIGHLIGHTS
For the Period Ended January 31, 2023 (Unaudited)
Net Asset Value, Beginning of Period |
Net Investment Income (Loss)(1) |
Net Realized and Unrealized Gain (Loss) on Investments |
Net Increase in Net Asset Value Resulting from Operations |
Distributions from Net Investment Income |
Total Distributions |
Net Asset Value, End of Period |
Total Return(2) |
Net Assets, End of Period (000’s) |
Net Expenses(3)(4) |
Net Investment Income (Loss)(3) |
Portfolio Turnover Rate(5) | |||||||||||||
Strive U.S. Energy ETF | ||||||||||||||||||||||||
August 9, 2022(6) to January 31, 2023 | $25.12 | 0.40 | 5.01 | 5.41 | (0.35) | (0.35) | $30.18 | 21.55% | $403,453 | 0.41% | 2.85% | 2% | ||||||||||||
Strive 500 ETF | ||||||||||||||||||||||||
September 15, 2022(6) to January 31, 2023 | $25.10 | 0.14 | 0.69 | 0.83 | (0.09) | (0.09) | $25.84 | 3.32% | $113,684 | 0.05% | 1.21% | 1% | ||||||||||||
Strive U.S. Semiconductor ETF | ||||||||||||||||||||||||
October 6, 2022(6) to January 31, 2023 | $25.07 | 0.09 | 2.72 | 2.81 | (0.06) | (0.06) | $27.82 | 11.22% | $17,246 | 0.40% | 0.72% | 10% | ||||||||||||
Strive Emerging Markets Ex-China ETF | ||||||||||||||||||||||||
January 31, 2023(6) | $25.17 | (0.00)(7) | (0.10) | (0.10) | - | - | $25.07 | (0.22%) | $102,785 | 0.32% | (0.00%) | 0%⁽⁸⁾ | ||||||||||||
Strive 1000 Dividend Growth ETF | ||||||||||||||||||||||||
November 10, 2022(6) to January 31, 2023 | $24.59 | 0.10 | 1.54 | 1.64 | (0.07) | (0.07) | $26.16 | 6.67% | $5,231 | 0.35% | 0.78% | 2% | ||||||||||||
Strive 1000 Growth ETF | ||||||||||||||||||||||||
November 10, 2022(6) to January 31, 2023 | $24.51 | 0.05 | 2.52 | 2.57 | (0.04) | (0.04) | $27.04 | 10.51% | $4,056 | 0.18% | 0.38% | 0%⁽⁸⁾ | ||||||||||||
Strive 1000 Value ETF | ||||||||||||||||||||||||
November 10, 2022(6) to January 31, 2023 | $24.45 | 0.16 | 1.74 | 1.90 | (0.12) | (0.12) | $26.23 | 7.77% | $2,623 | 0.18% | 1.27% | 0%⁽⁸⁾ | ||||||||||||
Strive Small-Cap ETF | ||||||||||||||||||||||||
November 10, 2022(6) to January 31, 2023 | $24.32 | 0.08 | 2.65 | 2.73 | (0.08) | (0.08) | $26.97 | 11.25% | $4,046 | 0.18% | 0.64% | 26% |
(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) | For periods of less than one year, these ratios are annualized. |
(4) | Net expenses include effects of any reimbursement or recoupment. |
(5) | Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. |
(6) | Commencement of operations. |
(7) | Rounds to less than $0.005. |
(8) | Amounts less than 0.5% are displayed as 0%. |
The accompanying Notes to the Financial Statements are an integral part of these Financial Statements.
107
NOTES TO THE FINANCIAL STATEMENTS
JANUARY 31, 2023 (UNAUDITED)
NOTE 1 – ORGANIZATION
Each of Strive U.S. Energy ETF, Strive 500 ETF, Strive U.S. Semiconductor ETF, Strive Emerging Markets Ex-China ETF, Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and Strive Small-Cap ETF (individually a “Fund” or collectively the “Funds”) is a series of the EA Series Trust (the “Trust”), which was organized as a Delaware statutory trust on October 11, 2013. The Trust is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company and the offering of the Funds’ shares (“Shares”) is registered under the Securities Act of 1933, as amended (the “Securities Act”). Each of the Strive Energy ETF and the Strive Semiconductor ETF is considered non-diversified under the 1940 Act. Non-diversified funds generally hold securities of fewer issuers than diversified funds and may be more susceptible to the risks associated with these particular issuers, or to a single economic, political or regulatory occurrence affecting these issuers. Each Fund qualifies as an investment company as defined in the Financial Accounting Standards Codification Topic 946-Financial Services - Investment Companies. The investment objective of each Fund is to seek to track the total return performance, before fees and expenses, of its particular index. The underlying index for each Fund is defined below:
Fund | Index | |
Strive U.S. Energy ETF | Solactive United States Energy Regulated Capped Index | |
Strive 500 ETF | Solactive GBS United States 500 Index | |
Strive U.S. Semiconductor ETF | Solactive United States Semiconductors 30 Capped Index | |
Strive Emerging Markets Ex-China ETF | Solactive GBS Emerging Markets ex China Large and Mid Cap Index | |
Strive 1000 Dividend Growth ETF | Bloomberg U.S. 1000 Dividend Growth Index | |
Strive 1000 Growth ETF | Bloomberg U.S. 1000 Growth Index | |
Strive 1000 Value ETF | Bloomberg U.S. 1000 Value Index | |
Strive Small-Cap ETF | Bloomberg U.S. 600 Index |
Strive U.S. Energy ETF commenced operations on August 9, 2022. Strive 500 ETF commenced operations on September 15, 2022. Strive U.S. Semiconductor ETF commenced operations on October 6, 2022. Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and Strive Small-Cap ETF commenced operations on November 10, 2022. Strive Emerging Markets Ex-China ETF commenced operations on January 31, 2023. Each Fund manages to its respective index. A short description of each index is as follows:
The Solactive United States Energy Regulated Capped Index, Solactive GBS United States 500 Index, Solactive United States Semiconductors 30 Capped Index, and Solactive GBS Emerging Markets ex China Large and Mid Cap Index are based on proprietary methodologies developed by Solactive AG, licensed to Strive Assets Management, LLC.
The Bloomberg U.S. 1000 Dividend Growth Index, Bloomberg U.S. 1000 Growth Index, Bloomberg U.S. 1000 Value Index, and Bloomberg U.S. 2000 Index are based on proprietary methodologies developed by Bloomberg Index Services Limited, licensed to Strive Assets Management, LLC.
Effective January 25, 2022, Strive Small-Cap ETF changed its name from Strive 2000 ETF to Strive Small-Cap ETF, and its Index from Bloomberg U.S. 2000 Index to the Bloomberg U.S. 600 Index.
Shares of the Strive U.S. Energy ETF, Strive 500 ETF, Strive U.S. Semiconductor ETF, and Strive Emerging Markets Ex-China ETF are listed and traded on the NYSE Arca, Inc. Shares of Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and Strive Small-Cap ETF are listed and traded on the Nasdaq Stock Market.
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JANUARY 31, 2023 (UNAUDITED)
Market prices for the shares may be different from their net asset value (“NAV”). The Funds issue and redeem shares on a continuous basis at NAV only in blocks of a specified number of shares, called “Creation Units.” Creation Units are issued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally trade in the secondary market at market prices that change throughout the day in share amounts less than a Creation Unit. Except when aggregated in Creation Units, shares are not redeemable securities of the Funds. Shares of the Funds may only be purchased or redeemed by certain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a DTC participant and, in each case, must have executed a Participant Agreement with the Distributor. Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the shares directly from the Funds. Rather, most retail investors may purchase shares in the secondary market with the assistance of a broker and are subject to customary brokerage commissions or fees.
The size of a Creation Unit for each Fund is illustrated in the table below.
Fund | Size of Creation Unit (Shares) |
|||
Strive U.S. Energy ETF | 10,000 | |||
Strive 500 ETF | 50,000 | |||
Strive U.S. Semiconductor ETF | 10,000 | |||
Strive Emerging Markets Ex-China ETF | 100,000 | |||
Strive 1000 Dividend Growth ETF | 50,000 | |||
Strive 1000 Growth ETF | 50,000 | |||
Strive 1000 Value ETF | 50,000 | |||
Strive Small-Cap ETF | 50,000 |
Authorized Participants may be required to pay a transaction fee to compensate the Trust or its custodian for costs incurred in connection with creation and redemption transactions. The standard transaction fee, which is payable to the Trust’s custodian, typically applies to in-kind purchases of the Funds effected through the clearing process on any business day, regardless of the number of Creation Units purchased or redeemed that day (“Standard Transaction Fees”). Variable fees are imposed to compensate the Funds for the transaction costs associated with the cash transactions fees. Certain fund deposits consisting of cash-in-lieu or cash value may be subject to a variable charge (“Variable Transaction Fees”), which is payable to the Fund, of up to 2.00% of the value of the order in addition to the Standard Transaction Fees. Variable Transaction Fees received by the Fund, if any, are displayed in the Capital Share Transactions sections of the Statements of Changes in Net Assets.
Because, among other things, the Funds impose transaction fees on purchases and redemptions of Shares to cover the custodial and other costs incurred by the Funds in effecting trades, the Board determined that it is not necessary to adopt policies and procedures to detect and deter market timing of the Funds’ Shares.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies consistently followed by the Fund. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).
A. | Security Valuation. Equity securities that are traded on a national securities exchange, except those listed on the NASDAQ Global Market® (“NASDAQ”) are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on NASDAQ will be valued at the |
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JANUARY 31, 2023 (UNAUDITED)
NASDAQ Official Closing Price (“NOCP”). If, on a particular day, an exchange-traded or NASDAQ security does not trade, then the most recent quoted bid for exchange-traded or the mean between the most recent quoted bid and ask price for NASDAQ securities will be used. Equity securities that are not traded on a listed exchange are generally valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies are valued at the investment company’s applicable net asset value, with the exception of exchange-traded open-end investment companies which are priced as equity securities.
Subject to its oversight, the Trust’s Board of Trustees (the “Board”) has delegated primary responsibility for determining or causing to be determined the value of the Fund’s investments to Empowered Funds, LLC d/b/a EA Advisers (the “Adviser”), pursuant to the Trust’s valuation policy and procedures, which have been adopted by the Trust and approved by the Board. Effective September 8, 2022, and in accordance with Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the “valuation designee” of the Fund. If the Adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the Adviser in accordance with the Trust’s fair valuation policy and procedures. The Adviser will provide the Board with periodic reports, no less frequently than quarterly, that discuss the functioning of the valuation process, if applicable, and that identify issues and valuation problems that have arisen, if any. As appropriate, the Adviser and the Board will review any securities valued by the Adviser in accordance with the Trust’s valuation policies during these periodic reports. The use of fair value pricing by the Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of January 31, 2023, the Funds did not hold any securities that were fair valued under the Trust’s valuation policies and procedures.
As described above, the Funds may use various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.
Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
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JANUARY 31, 2023 (UNAUDITED)
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The following is a summary of the fair value classification of the Funds’ investments as of January 31, 2023:
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | |||||||||||||
Strive U.S. Energy ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 402,105,968 | $ | - | $ | - | $ | 402,105,968 | |||||||||
Money Market Funds | 1,227,547 | - | - | 1,227,547 | |||||||||||||
Total Investments in Securities | $ | 403,333,515 | $ | - | $ | - | $ | 403,333,515 | |||||||||
Strive 500 ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 110,137,392 | $ | - | $ | - | $ | 110,137,392 | |||||||||
Real Estate Invesment Trusts | 2,922,120 | - | - | 2,922,120 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 40,470 | - | - | 40,470 | |||||||||||||
Money Market Funds | 516,930 | - | - | 516,930 | |||||||||||||
Total Investments in Securities | $ | 113,616,912 | $ | - | $ | - | $ | 113,616,912 | |||||||||
Strive U.S. Semiconductor ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 17,200,458 | $ | - | $ | - | $ | 17,200,458 | |||||||||
Investments Purchased with Proceeds from Securities Lending | 66,916 | - | - | 66,916 | |||||||||||||
Money Market Funds | 41,760 | - | - | 41,760 | |||||||||||||
Total Investments in Securities | $ | 17,309,134 | $ | - | $ | - | $ | 17,309,134 | |||||||||
Strive Emerging Markets Ex-China ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 96,597,952 | $ | - | $ | - | $ | 96,597,952 | |||||||||
Preferred Stocks | 4,051,939 | - | - | 4,051,939 | |||||||||||||
Total Investments in Securities | $ | 100,649,891 | $ | - | $ | - | $ | 100,649,891 | |||||||||
Strive 1000 Dividend Growth ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 4,998,214 | $ | - | $ | - | $ | 4,998,214 | |||||||||
Real Estate Invesment Trusts | 219,057 | - | - | 219,057 | |||||||||||||
Money Market Funds | 10,765 | - | - | 10,765 | |||||||||||||
Total Investments in Securities | $ | 5,228,036 | $ | - | $ | - | $ | 5,228,036 |
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JANUARY 31, 2023 (UNAUDITED)
Strive 1000 Growth ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 3,916,550 | $ | - | $ | - | $ | 3,916,550 | |||||||||
Real Estate Invesment Trusts | 125,257 | - | - | 125,257 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 1,453 | - | - | 1,453 | |||||||||||||
Money Market Funds | 13,553 | - | - | 13,553 | |||||||||||||
Total Investments in Securities | $ | 4,056,813 | $ | - | $ | - | $ | 4,056,813 | |||||||||
Strive 1000 Value ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 2,526,685 | $ | - | $ | - | $ | 2,526,685 | |||||||||
Real Estate Invesment Trusts | 85,711 | - | - | 85,711 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 2,280 | - | - | 2,280 | |||||||||||||
Money Market Funds | 7,436 | - | - | 7,436 | |||||||||||||
Total Investments in Securities | $ | 2,622,112 | $ | - | $ | - | $ | 2,622,112 | |||||||||
Strive Small-Cap ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 3,773,112 | $ | - | $ | - | $ | 3,773,112 | |||||||||
Real Estate Invesment Trusts | 254,310 | - | - | 254,310 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 16,973 | - | - | 16,973 | |||||||||||||
Money Market Funds | 22,998 | - | - | 22,998 | |||||||||||||
Total Investments in Securities | $ | 4,067,393 | $ | - | $ | - | $ | 4,067,393 |
* | For further detail on each asset class, see the Schedule of Investments |
During the fiscal period ended January 31, 2023, Strive 1000 Growth ETF did invest in a Level 3 investment and recognized the transfer to/from Level 3. Transfers between levels are recognized at the end of the reporting period.
Strive 1000 Growth ETF |
|||||
Rights | |||||
Value, Beginning of Period | $ | - | |||
Purchases | - | ||||
Proceeds from Sales | - | ||||
Net Realized Gains (Losses) | - | ||||
Return of Capital | - | ||||
Change in Unrealized Appreciation (Depreciation) | - | ||||
Transfers In/(Out) of Level 3 | - | ||||
Value, End of Year | - |
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B. | Foreign Currency. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts using the spot rate of exchange at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. |
The Funds isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. That portion of gains (losses) attributable to the changes in market prices and the portion of gains (losses) attributable to changes in foreign exchange rates are included on the “Statement of Operations” under “Net realized gain (loss) – Foreign currency” and “Change in Net Unrealized Appreciation (Depreciation) – Foreign Currency,” respectively.
Each Fund reports net realized foreign exchange gains or losses that arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.
C. | Federal Income Taxes. Each Fund intends to continue to comply with the requirements of subchapter M of the Internal Revenue Code of 1986, as amended, as necessary to qualify as a regulated investment company and distribute substantially all net taxable investment income and net realized gains to shareholders in a manner which results in no tax cost to a Fund. Therefore, no federal income tax provision is required. As of and during the fiscal period ended January 31, 2023, the Funds did not have any tax positions that did not meet the “more-likely-than-not” threshold of being sustained by the applicable tax authority. As of and during the fiscal period ended January 31, 2023, the Funds did not have liabilities for any unrecognized tax benefits. A Fund would/will recognize interest and penalties, if any, related to unrecognized tax benefits on uncertain tax positions as income tax expense in the Funds’ Statement of Operations. During the fiscal period ended January 31, 2023, the Funds did not incur any interest or penalties. Each Fund is subject to examination by U.S. taxing authorities for the tax periods since each Fund’s commencement of operations. |
Each Fund may be subject to taxes imposed on realized and unrealized gains on securities of certain foreign countries in which the Fund invests. The foreign tax expense, if any, was recorded on an accrual basis and is included in “Net realized gain (loss) on investments” and “Net increase (decrease) in unrealized appreciation or depreciation on investments” on the accompanying Statements of Operations. The amount of foreign tax owed, if any, is included in “Payable for foreign taxes” on the accompanying Statements of Assets and Liabilities and is comprised of withholding taxes on foreign dividends and taxes on unrealized gains.
D. | Security Transactions and Investment Income. Investment securities transactions are accounted for on the trade date. Gains and losses realized on sales of securities are determined on a specific identification basis. Dividend income is recorded on the ex-dividend date, net of any foreign taxes withheld at source. Interest income is recorded on an accrual basis. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable tax rules and regulations. |
Distributions to shareholders from net investment income and from net realized gains on securities for each Fund are declared and paid on a quarterly basis. Distributions are recorded on the ex-dividend date. The Funds may distribute more frequently, if necessary, for tax purposes.
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E. | Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of increases and decreases in net assets from operations during the period. Actual results could differ from those estimates. |
F. | Share Valuation. The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds’ shares will not be priced on the days on which the New York Stock Exchange (“NYSE”) is closed for regular trading. The offering and redemption price per share for each Fund is equal to the Fund’s net asset value per share. |
G. | Guarantees and Indemnifications. In the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. Additionally, as is customary, the Trust’s organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. Each Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be against the Funds that have not yet occurred. As of the date of this Report, no claim has been made for indemnification pursuant to any such agreement of the Funds. |
H. | Reclassification of Capital Accounts. GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. No reclassifications were made for the fiscal period ended January 31, 2023. |
NOTE 3 – RISKS
An investment in the Fund involves risk, including those described below. There is no assurance that the Fund will achieve its investment objective. An investor may lose money by investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. More complete risk descriptions are set forth below under the heading “Additional Information About the Fund’s Risks”.
The Strive U.S. Energy ETF and the Strive U.S. Semiconductor ETF are subject to non-diversification risk. Because the Funds are non-diversified, they may be more sensitive to economic, business, political or other changes affecting individual issuers or investments than a diversified fund, which may result in greater fluctuation in the value of the Funds’ Shares and greater risk of loss.
The Strive U.S. Energy ETF is subject to energy sector risk. The market value of securities in the energy sector may decline for many reasons including, fluctuations in energy prices and supply and demand of energy fuels caused by geopolitical events, the success of exploration projects, weather or meteorological events, taxes, increased governmental or environmental regulation, resource depletion, rising interest rates, declines in domestic or foreign production, accidents or catastrophic events that result in injury, loss of life or property, pollution or other environmental damage claims, terrorist threats or attacks, among other factors. Markets for various energy-related commodities can have significant volatility and are subject to control or manipulation by large producers or purchasers. Companies in the energy sector may need to make substantial expenditures, and may incur significant amounts of debt, to maintain or expand their reserves through exploration of new sources of supply, through the development of existing sources, through acquisitions, or through long-term contracts to acquire reserves. Factors adversely affecting producers, refiners, distributors, or others in the energy sector may adversely affect companies that service or supply those entities, either because demand for those services or products is curtailed, or those services or products come under price pressure. Issuers in the energy sector may also be impacted by changing investor and consumer preferences arising from the sector’s potential exposure to sustainability and environmental concerns.
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JANUARY 31, 2023 (UNAUDITED)
The Strive U.S. Semiconductor ETF is subject to semiconductor sector risk. The semiconductor sector is highly cyclical and periodically experiences significant economic downturns characterized by diminished product demand, resulting in production overcapacity and excess inventory, which can result in rapid erosion of product selling prices. The sector has experienced significant downturns, often in connection with, or in anticipation of, maturing product cycles of both semiconductor companies’ and their customers’ products and the decline in general economic conditions. The Strive U.S. Semiconductor ETF is also subject to technology sector risk. The Fund will have exposure to companies operating in the technology sector. Technology companies, including information technology companies, may have limited product lines, financial resources and/or personnel. Technology companies typically face intense competition and potentially rapid product obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights.
The Strive 1000 Growth ETF is subject to growth investing risk. The Fund invests in growth securities, which may be more volatile than other types of investments, may perform differently than the market as a whole and may underperform when compared to securities with different investment parameters. Under certain market conditions, growth securities have performed better during the later stages of economic recovery (although there is no guarantee that they will continue to do so). Therefore, growth securities may go in and out of favor over time.
The Strive 1000 Value ETF is subject to value investing risk. Securities issued by companies that may be perceived as undervalued may be appropriately valued. Value securities may fail to appreciate for long periods of time or may never realize their full potential value. In addition, the Fund’s ability to realize any benefits of investing in value securities may depend on the Fund’s ability to stay invested until the market’s perception of such securities change. Value securities have generally performed better than non-value securities during periods of economic recovery (although there is no assurance that they will continue to do so). Value securities may go in and out of favor over time.
The Strive Emerging Markets Ex-China ETF is subject to emerging markets risk. Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to those securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments. For example, developing and emerging markets may be subject to (i) greater market volatility, (ii) lower trading volume and liquidity, (iii) greater social, political and economic uncertainty, (iv) governmental controls on foreign investments and limitations on repatriation of invested capital, (v) lower disclosure, corporate governance, auditing and financial reporting standards, (vi) fewer protections of property rights, (vii) restrictions on the transfer of securities or currency, and (viii) settlement and trading practices that differ from those in U.S. markets. Each of these factors may impact the ability of the Fund to buy, sell or otherwise transfer securities, adversely affect the trading market and price for shares and cause the Fund to decline in value.
See the Funds’ Prospectus and Statement of Additional Information regarding the risks of investing in shares of the Fund.
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
JANUARY 31, 2023 (UNAUDITED)
NOTE 4 – COMMITMENTS AND OTHER RELATED PARTY TRANSACTIONS.
Empowered Funds, LLC d/b/a EA Advisers (the “Adviser”) serves as the investment adviser to the Funds. Pursuant to an investment advisory agreement (the “Advisory Agreement”) between the Trust, on behalf of the Funds, and the Adviser, the Adviser provides investment advice to the Funds and oversees the day-to-day operations of the Funds, subject to the direction and control of the Board and the officers of the Trust. Under the Advisory Agreement, the Adviser is also responsible for arranging transfer agency, custody, fund administration and accounting, and other non-distribution related services necessary for the Funds to operate. The Adviser administers the Funds’ business affairs, provides office facilities and equipment and certain clerical, bookkeeping and administrative services. The Adviser agrees to pay all expenses incurred by the Funds except for the fee paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes (including tax-related services), interest (including borrowing costs), litigation expense (including class action-related services) and other non-routine or extraordinary expenses.
U.S. Bancorp Fund Services, LLC (“Fund Services” or “Administrator”), doing business as U.S. Bank Global Fund Services, acts as the Funds’ Administrator and, in that capacity, performs various administrative and accounting services for the Funds. The Administrator prepares various federal and state regulatory filings, reports and returns for the Funds, including regulatory compliance monitoring and financial reporting; prepares reports and materials to be supplied to the trustees; monitors the activities of the Funds’ Custodian, transfer agent and fund accountant. Fund Services also serves as the transfer agent and fund accountant to the Funds. U.S. Bank N.A. (the “Custodian”), an affiliate of the Administrator, serves as the Funds’ Custodian.
The Custodian acts as the securities lending agent (the “Securities Lending Agent”) for the Funds.
Strive Asset Management, LLC, serves as a discretionary investment sub-adviser to the Funds. Pursuant to an investment sub-advisory agreement (the “Sub-Advisory Agreement”) among the Trust, the Adviser and the Sub-Adviser, the Sub-Adviser is responsible for determining the investment exposures for the Funds, subject to the overall supervision and oversight of the Adviser and the Board.
At a Board meeting held on July 26, 2022, the Board of Trustees of the Trust (the “Trustees”) including each Trustee who is not an “interested person” of the Trust, as defined in the 1940 Act, approved the Advisory Agreement and Sub-Advisory Agreement for the Strive U.S. Energy ETF, Strive 500 ETF, Strive U.S. Semiconductor ETF, and Strive Emerging Markets Ex-China ETF. The Trustees also met at a special meeting held on January 9, 2023 to consider an amendment to the Advisory Agreement for the Strive Emerging Markets Ex-China ETF to increase the Fund’s investment advisory fee prior to the Fund’s commencement of operations.
At a Board meeting held on November 4, 2022, the Trustees including each Trustee who is not an “interested person” of the Trust, as defined in the 1940 Act, approved the Advisory Agreement and Sub-Advisory Agreement for the Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and Strive Small-Cap ETF.
The table below represents the annual rate (after fee waivers) based on average daily net assets that each Fund pays the Adviser monthly:
Strive U.S. Energy ETF | 0.41 | % | ||
Strive 500 ETF | 0.0545 | % | ||
Strive U.S. Semiconductor ETF | 0.40 | % | ||
Strive Emerging Markets Ex-China ETF | 0.32 | % | ||
Strive 1000 Dividend Growth ETF | 0.35 | % | ||
Strive 1000 Growth ETF | 0.18 | % | ||
Strive 1000 Value ETF | 0.18 | % | ||
Strive Small-Cap ETF | 0.18 | % |
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
JANUARY 31, 2023 (UNAUDITED)
NOTE 5 – SECURITIES LENDING
The Funds may lend up to 33⅓% of the value of the securities in their portfolios to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending program administered by the Securities Lending Agent. The securities lending agreement requires that loans are collateralized at all times in an amount equal to at least 102% of the value of any domestic loaned securities at the time of the loan, plus accrued interest. The use of loans of foreign securities, which are denominated and payable in U.S. dollars, shall be collateralized in an amount equal to 105% of the value of any loaned securities at the time of the loan plus accrued interest. The Funds receive compensation in the form of fees and earn interest on the cash collateral. The amount of fees depends on a number of factors including the type of security and length of the loan. The Funds continue to receive interest payments or dividends on the securities loaned during the borrowing period. Gain or loss on the value of securities loaned that may occur during the term of the loan will be for the account of the Funds. The Funds have the right under the terms of the securities lending agreement to recall the securities from the borrower on demand.
The securities lending agreement provides that, in the event of a borrower’s material default, the Securities Lending Agent shall take all actions the Securities Lending Agent deems appropriate to liquidate the collateral, purchase replacement securities at the Securities Lending Agent’s expense, or pay the Fund an amount equal to the market value of the loaned securities, subject to certain limitations which are set forth in detail in the securities lending agreement between the Funds and the Securities Lending Agent.
As of the end of the current fiscal period, the Funds had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with the Trust approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Funds could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Funds are indemnified from this risk by contract with the Securities Lending Agent.
As of the end of the current fiscal period, the value of the securities on loan and payable for collateral due to broker were as follows:
Value of | Payable for | |||||||
Securities | Collateral | |||||||
on Loan | Received* | |||||||
Strive U.S. Energy ETF | $ | - | $ | - | ||||
Strive 500 ETF | 40,943 | 40,470 | ||||||
Strive U.S. Semiconductor ETF | 67,520 | 66,916 | ||||||
Strive Emerging Markets Ex-China ETF | - | - | ||||||
Strive 1000 Dividend Growth ETF | - | - | ||||||
Strive 1000 Growth ETF | 1,470 | 1,453 | ||||||
Strive 1000 Value ETF | 2,310 | 2,280 | ||||||
Strive Small-Cap ETF | 17,277 | 16,973 |
* | The cash collateral received was invested in the First American Money Market Government Obligations Fund as shown on the Schedule of Investments. The investment objective is to seek maximum current income to the extent consistent with the preservation of capital and maintenance of liquidity. |
117
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
JANUARY 31, 2023 (UNAUDITED)
The interest income earned by the Funds on the investment of cash collateral received from borrowers for the securities loaned to them (“Securities Lending Income, Net”) is reflected in the Funds’ Statement of Operations. Net securities lending income earned on collateral investments and recognized by the Funds during the current fiscal period, was as follows:
Strive U.S. Energy ETF | $ | 122 | ||
Strive 500 ETF | 285 | |||
Strive U.S. Semiconductor ETF | 85 | |||
Strive Emerging Markets Ex-China ETF | - | |||
Strive 1000 Dividend Growth ETF | 5 | |||
Strive 1000 Growth ETF | 9 | |||
Strive 1000 Value ETF | 28 | |||
Strive Small-Cap ETF | 181 |
NOTE 6 – PURCHASES AND SALES OF SECURITIES
For the fiscal period ended January 31, 2023, purchases and sales of securities for the Funds, excluding short-term securities and in-kind transactions, were as follows:
Purchases | Sales | |||||||
Strive U.S. Energy ETF | $ | 14,705,310 | $ | 5,706,536 | ||||
Strive 500 ETF | 1,254,813 | 650,188 | ||||||
Strive U.S. Semiconductor ETF | 1,470,374 | 925,866 | ||||||
Strive Emerging Markets Ex-China ETF | 83,306,196 | - | ||||||
Strive 1000 Dividend Growth ETF | 63,085 | 48,620 | ||||||
Strive 1000 Growth ETF | - | 3,254 | ||||||
Strive 1000 Value ETF | 70 | 827 | ||||||
Strive Small-Cap ETF | 1,892,273 | 585,932 |
For the fiscal period ended January 31, 2023, in-kind transactions associated with creations and redemptions were as follows:
Purchases | Sales | |||||||
Strive U.S. Energy ETF | $ | 399,208,244 | $ | 45,037,565 | ||||
Strive 500 ETF | 110,790,720 | 4,779,558 | ||||||
Strive U.S. Semiconductor ETF | 16,661,365 | 1,996,487 | ||||||
Strive Emerging Markets Ex-China ETF | 17,526,769 | - | ||||||
Strive 1000 Dividend Growth ETF | 5,041,264 | - | ||||||
Strive 1000 Growth ETF | 3,724,014 | - | ||||||
Strive 1000 Value ETF | 2,439,582 | - | ||||||
Strive Small-Cap ETF | 3,667,309 | 1,309,215 |
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STRIVE ETFs
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
JANUARY 31, 2023 (UNAUDITED)
For the fiscal period ended January 31, 2023, short term and long-term gains on in-kind transactions were as follows:
Short Term | Long Term | |||||||
Strive U.S. Energy ETF | $ | 4,166,651 | $ | - | ||||
Strive 500 ETF | 292,737 | - | ||||||
Strive U.S. Semiconductor ETF | 71,782 | - | ||||||
Strive Emerging Markets Ex-China ETF | - | - | ||||||
Strive 1000 Dividend Growth ETF | - | - | ||||||
Strive 1000 Growth ETF | - | - | ||||||
Strive 1000 Value ETF | - | - | ||||||
Strive Small-Cap ETF | 168,240 | - |
There were no purchases or sales of U.S. Government securities during the fiscal period.
NOTE 7 – TAX INFORMATION
As of July 31, 2022, the Funds had not commenced operations. Tax information will be presented within the Funds’ first annual report as of July 31, 2023.
NOTE 8 – DISTRIBUTIONS TO SHAREHOLDERS
The tax character of distributions paid by the Funds during the fiscal period ended January 31, 2023, was as follows:
Fiscal
Period Ended January 31, 2023 |
||||
Ordinary Income |
||||
Strive U.S. Energy ETF | 4,599,708 | |||
Strive 500 ETF | 337,939 | |||
Strive U.S. Semiconductor ETF | 32,823 | |||
Strive Emerging Markets Ex-China ETF | - | |||
Strive 1000 Dividend Growth ETF | 7,222 | |||
Strive 1000 Growth ETF | 3,935 | |||
Strive 1000 Value ETF | 11,663 | |||
Strive Small-Cap ETF | 7,522 |
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
JANUARY 31, 2023 (UNAUDITED)
NOTE 9 – SUBSEQUENT EVENTS
In preparing these financial statements, management of the Funds has evaluated events and transactions for potential recognition or disclosure through date the financial statements were issued. Except as noted below, there were no transactions that occurred during the period subsequent to January 31, 2023, that materially impacted the amounts or disclosures in the Funds’ financial statements.
Strive 500 ETF, Strive 1000 Growth ETF, and Strive 1000 Value ETF (the “Funds”) held positions in Silicon Valley Bank at the end of the semi-annual period. On March 10, 2023, regulators halted trading in shares of SVB Financial Group (ticker: SIVB), the bank’s parent company, and closed the bank to protect depositors. In addition, the Funds held positions in New York-based Signature Bank (ticker: SBNY) at the end of the semi-annual period. On March 12, 2023, SNBY was also shut down by regulators and placed into FDIC receivership. As a result of these actions, both SIVB and SNBY were removed from the Funds’ indices. Subsequently, the Funds sold their holdings in both SIVB and SNBY on March 28, 2023.
120
EXPENSE EXAMPLE
JANUARY 31, 2023 (UNAUDITED)
As a shareholder of the Strive U.S. Energy ETF, Strive 500 ETF, Strive U.S. Semiconductor ETF, Strive Emerging Markets Ex-China ETF, Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and/or Strive Small-Cap ETF, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of Fund shares, and (2) ongoing costs, including management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in each Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the most recent six-month period and held the entire period (August 1, 2022 to January 31, 2023).
Actual Expenses
The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Fiscal Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line of the table below provides information about hypothetical account values and hypothetical expenses based on each of the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not each Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in each Fund compared to other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. If these transactional costs were included, your costs would have been higher. The information assumes the reinvestment of all dividends and distributions.
Annualized Expense Ratio |
Beginning Account Value |
Ending Account Value |
Expenses Paid During the Period |
||||||||||||
Strive U.S. Energy ETF1 | |||||||||||||||
Actual | 0.41% | $ | 1,000.00 | $ | 1,215.50 | $ | 2.19 | ||||||||
Hypothetical (5% annual return before expenses) | 0.41% | 1,000.00 | 1,023.14 | 2.09 | |||||||||||
Strive 500 ETF2 | |||||||||||||||
Actual | 0.05% | $ | 1,000.00 | $ | 1,033.20 | $ | 0.19 | ||||||||
Hypothetical (5% annual return before expenses) | 0.05% | 1,000.00 | 1,024.95 | 0.26 | |||||||||||
Strive U.S. Semiconductor ETF3 | |||||||||||||||
Actual | 0.40% | $ | 1,000.00 | $ | 1,112.20 | $ | 1.37 | ||||||||
Hypothetical (5% annual return before expenses) | 0.40% | 1,000.00 | 1,023.19 | 2.04 |
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STRIVE ETFS
Annualized Expense Ratio |
Beginning Account Value |
Ending Account Value |
Expenses Paid During the Period |
||||||||||||
Strive Emerging Markets Ex-China ETF4 | |||||||||||||||
Actual | 0.32% | $ | 1,000.00 | $ | 997.80 | $ | 0.01 | ||||||||
Hypothetical (5% annual return before expenses) | 0.32% | 1,000.00 | 1,023.59 | 1.63 | |||||||||||
Strive 1000 Dividend Growth ETF5 | |||||||||||||||
Actual | 0.35% | $ | 1,000.00 | $ | 1,066.70 | $ | 0.82 | ||||||||
Hypothetical (5% annual return before expenses) | 0.35% | 1,000.00 | 1,023.44 | 1.79 | |||||||||||
Strive 1000 Growth ETF5 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,105.10 | $ | 0.43 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,024.30 | 0.92 | |||||||||||
Strive 1000 Value ETF5 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,077.70 | $ | 0.43 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,024.30 | 0.92 | |||||||||||
Strive Small-Cap ETF5 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,112.50 | $ | 0.43 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,024.30 | 0.92 |
1. | The inception date for the Strive U.S. Energy ETF was August 9, 2022. Actual expenses paid during the period are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 176/365 (to reflect the period). |
2. | The inception date for the Strive 500 ETF was September 15, 2022. Actual expenses paid during the period are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 139/365 (to reflect the period). |
3. | The inception date for the Strive U.S. Semiconductor ETF was October 6, 2022. Actual expenses paid during the period are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 118/365 (to reflect the period). |
4. | The inception date for the Strive Emerging Markets Ex-China ETF was January 31, 2023. Actual expenses paid during the period are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 1/365 (to reflect the period). |
5. | The inception date for the Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, and Strive Small-Cap ETF was November 10, 2022. Actual expenses paid during the period are equal to the annualized net expense ratio for the class, multiplied by the average account value over the period, multiplied by 83/365 (to reflect the period). |
122
REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM (UNAUDITED)
Pursuant to Rule 22e-4 under the Investment Company Act of 1940, the Trust, on behalf of the series of the Trust covered by this shareholder report (each a “Fund”, and collectively, the “Funds”), has adopted a liquidity risk management program (“the Program”) to govern the Trust’s approach to managing liquidity risk. Rule 22e-4 seeks to promote effective liquidity risk management, thereby reducing the risk that a Fund will be unable to meet its redemption obligations and mitigating dilution of the interests of fund shareholders. The Trust’s liquidity risk management program is tailored to reflect each Fund’s particular risks, but not to eliminate all adverse impacts of liquidity risk, which would be incompatible with the nature of the Fund.
During the period, the Trust’s Board of Trustees had designated Sean Hegarty and Wm. Joshua Russell of the Adviser as the Program Administrators, responsible for administering the Program and its policies and procedures.
At the July 26, 2022, meeting of the Board of Trustees of the Trust, the Program Administrator provided the Trustees with a report pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the period ended March 31, 2022. The report concluded that the Program is adequately operating, and its implementation has been effective. The report reflected that there were no liquidity events that impacted the Funds’ ability to timely meet redemptions without dilution to existing shareholders. The report further described material changes that were made to the Program since its implementation.
There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding the Funds’ exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.
The Strive Funds were analyzed at the Board of Trustee meeting on which each respective Fund was approved.
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MANAGEMENT OF THE FUNDS
The table below sets forth certain information about each of the Trust’s executive officers as well as its affiliated and independent Trustees.
Name, Address, 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 | Since 2014 | Associate Professor of Finance, Drexel University, LeBow College of Business (2003 – present). | 33 | None |
Michael S. Pagano, Ph.D., CFA Born: 1962 |
Trustee | Since 2014 | The Robert J. and Mary Ellen Darretta Endowed Chair in Finance, Villanova University (1999 – present); Co-Editor of the Financial Review (2023 – present); Founder, Michael S. Pagano, LLC (business consulting firm) (2008 – present). | 33 |
Citadel Federal Credit Union (pro bono service for non-profit) |
Chukwuemeka (Emeka) O. Oguh Born: 1983 |
Trustee | Since 2018 | Co-founder and CEO, PeopleJoy (2016 – present). | 33 | None |
Interested Trustee* | |||||
Wesley R. Gray, Ph.D. Born: 1980 |
Trustee and President | Since 2014 | Founder and Executive Managing Member, EA Advisers (2013 – present); Founder and Executive Managing Member, Empirical Finance, LLC d/b/a Alpha Architect (2010 – present). | 33 | None |
* | Dr. Gray is an “interested person,” as defined by the Investment Company Act, because of his employment with and ownership interest in the Adviser. |
Additional information about the Affiliated Trustee and Independent Trustees is available in the Statement of Additional Information (SAI).
124
STRIVE ETFS
MANAGEMENT OF THE FUNDS (CONTINUED)
Officers
Name, Address, and Year of Birth |
Position(s) Held with Trust |
Term
of Office and Length of Time Served |
Principal
Occupation During Past 5 Years |
John Vogel, Ph.D. Born: 1983 |
Treasurer and Chief Financial Officer | Since 2014 | Managing Member, EA Advisers (2013 – present); Managing Member, Empirical Finance, LLC d/b/a Alpha Architect (2012 – present). |
Jessica D. Leighty Born: 1981 |
Chief Compliance Officer | Since 2022 | Chief Compliance Officer, Alpha Architect (2021 – Present), Chief Compliance Officer, Snow Compliance (2015 – 2021) |
Patrick R. Cleary Born: 1982 |
Secretary | Since 2015 | Chief Operating Officer and Managing Member, Alpha Architect, LLC (2014 – present); Chief Executive Officer of EA Advisers (2021 – present). |
Sean Hegarty Born: 1993 |
Assistant Treasurer | Since 2022 | 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) |
125
BOARD REVIEW AND APPROVAL OF ADVISORY AND SUB-ADVISORY AGREEMENTS
The Board (the members of which are referred to as “Trustees”) of the EA Series Trust (the “Trust”) met virtually on both July 26, 2022 and November 4, 2022 to consider the approval of Advisory Agreement between the Trust, on behalf of the Strive U.S. Energy ETF, the Strive 500 ETF, the Strive U.S. Semiconductor ETF, the Strive Emerging Markets Ex-China ETF, the Strive 1000 Dividend Growth ETF, the Strive 1000 Growth ETF, the Strive 1000 Value ETF, and the Strive Small-Cap ETF (each a “New Fund” and collectively, the “New Funds”), and Empowered Funds, LLC (the “Adviser”), as well as to consider the approval of the Sub-Advisory Agreement between the Adviser and Strive Asset Management, LLC (the “Sub-Adviser”). The Board also met at a special meeting held on January 9, 2023 to consider an amendment to the Advisory Agreement for the Strive Emerging Markets Ex-China ETF to increase the Fund’s investment advisory fee prior to the Fund’s commencement of operations. In accordance with Section 15(c) of the 1940 Act, the Board requested, reviewed and considered materials furnished by the Adviser and Sub-Adviser relevant to the Board’s consideration of whether to approve the Advisory Agreement and Sub-Advisory Agreement. In connection with considering approval of both the Advisory Agreement and Sub-Advisory Agreement, the Trustees who are not “interested persons” of the Trust, as that term is defined in the 1940 Act (the “Independent Trustees”), met in executive session with counsel to the Independent Trustees and separately with Trust counsel who each provided assistance and advice. In reaching the decision to approve both the Advisory Agreements and Sub-Advisory Agreements the Board considered and reviewed information provided by the Adviser and Sub-Adviser, including among other things information about its personnel, operations, financial condition, and compliance and risk management. The Board also reviewed copies of the proposed Advisory Agreement and Sub-Advisory Agreement. During their review and consideration, the Board focused on and reviewed the factors they deemed relevant, including:
Nature, Quality and Extent of Services. The Board was presented and considered information concerning the nature, quality and extent of the overall services expected to be provided by the Adviser to the New Funds. In this connection, the Board considered the responsibilities of the Adviser, recognizing that the Adviser had invested significant time and effort in structuring the Trust and the New Funds, and arranging service providers for the New Funds. In addition, the Board considered that the Adviser is responsible for providing investment advisory oversight services to the New Funds, executing all New Fund transactions, monitoring compliance with the New Funds’ objectives, policies, and restrictions, and carrying out directives of the Board. The Board also considered the services expected to be provided by the Adviser in the oversight of the Trust’s administrator, transfer agent and custodian. In addition, the Board evaluated the integrity of each of the Adviser’s and Sub-Adviser’s personnel, the experience of the portfolio manager in managing assets and the adequacy of each of the Adviser’s and Sub-Adviser’s resources. The Board also considered the Adviser’s ongoing oversight responsibilities vis-à-vis the Strive Sub-Adviser, to include the augmented resources mentioned above. The Board also considered that the Strive Sub-Adviser would provide its services to the New Funds as a discretionary investment sub-adviser, while each New Fund is passive and tracks a third-party index.
Performance. Performance information was not available for each New Fund as each had not yet commenced operations.
Comparative Fees and Expenses. In considering the advisory fees and sub-advisory fees, the Board reviewed and considered the fees in light of the nature, quality and extent of the services expected to be provided by the Adviser and Strive Sub-Adviser, respectively. With respect to the advisory fees and expense ratios for the Funds, the Board also considered the fees and expense ratios versus the fees and expenses charged to other exchange-traded funds and mutual funds. The Board noted that there were several comparable funds available for comparison, with the fees charged within a reasonable range as compared to the peers. Nevertheless, the peers under consideration were quite large and likely enjoyed material economies of scale that are not currently available to the Adviser and Sub-Adviser. With respect to the sub-advisory fees, the Board noted that they were payable solely out of the unitary management fee payable to the Adviser. The Adviser also presented two sets of peer analysis – the first being a mix of active and passive funds, with the second being an active only peer group. The Adviser also noted that the Funds had been priced at parity with comparable ETF products.
126
STRIVE ETFS
BOARD REVIEW AND APPROVAL OF ADVISORY AND SUB-ADVISORY AGREEMENTS
The Board considered, among other information, the data provided in the third-party report. Fee information was provided in quartiles, ranging from quartile one (the least expensive) to quartile four (the most expensive).
The Board considered the third-party peer group analysis that included comparison of the New Funds’ anticipated total expense ratios (for both gross and net) and management fees against funds that were both exchanged-traded funds and mutual funds. The Board was agreeable to the fee levels.
Additionally, at a special meeting of the Board held on January 9, 2023, the Board considered a proposal to amend the fee schedule for the previously approved Strive Emerging Markets ex-China ETF. The Board was provided with updated fee analysis and other information and data to support the fee proposal. In connection with the Board’s deliberations, it considered that certain costs for the Fund were higher than initially anticipated (e.g., custody costs). The Board also considered that the Fund had not yet launched and the initial fee that was approved would make the Fund more difficult for the Fund’s Sub-Adviser to support at the previously approved fee levels. The Board considered the third-party peer group analysis that included comparison of the New Funds’ anticipated total expense ratios (for both gross and net) and management fees against funds that were both exchanged-traded funds and mutual funds. The Board was agreeable to the fee levels.
Costs and Profitability. The Board further considered information regarding the potential profits, if any, that may be realized by each of the Adviser and the Strive Sub-Adviser in connection with providing their respective services to each New Fund. The Board reviewed estimated profit and loss information provided by the Adviser with respect to each New Fund and estimated data regarding the proposed sub-advisory fee and the costs associated with the personnel, systems, and equipment necessary to manage each New Fund and to meet the regulatory and compliance requirements adopted by the SEC and other regulatory bodies as well as other expenses the Adviser would pay in accordance with the Advisory Agreement. The Board also took into consideration that the Adviser agreed to pay all expenses incurred by each New Fund except for the fees paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing costs), litigation expenses and other non-routine or extraordinary expenses. The Board also considered the respective financial obligations of the Adviser and the Strive Sub-Adviser, as sponsor of the Fund. They also considered each New Fund’s projected asset totals over the first two years of operations.
Other Benefits. The Board further considered the extent to which the Adviser or Strive Sub-Adviser might derive ancillary benefits from each New Fund’s operations. For example, the Adviser may engage in soft dollar transactions in the future, although it did not currently plan to do so. In addition, the Adviser may benefit from continued growth in the Trust by potentially negotiating better fee arrangements with key vendors serving the Funds.
Economies of Scale. The Board also considered whether economies of scale would be realized by the New Fund as its assets grow larger, including the extent to which this is reflected in the level of fees to be charged. The Board also noted that the proposed advisory and sub-advisory fees do not include breakpoints but concluded that it was premature to meaningfully evaluate potential economies of scale.
Conclusion. No single factor was determinative of the Board’s decision to approve both the Advisory Agreement and Sub-Advisory Agreement; rather, the Board based its determination on the total mix of information available to it. Based on a consideration of all the factors in their totality, the Board, including a majority of the Independent Trustees, approved both the Advisory Agreement and Sub-Advisory Agreement, including the compensation payable under the Agreements.
127
STRIVE ETFS
INFORMATION ABOUT PORTFOLIO HOLDINGS (UNAUDITED)
The Funds file their complete schedules of portfolio holdings for their first and third fiscal quarters with the Securities and Exchange Commission (“SEC”) on Part F of Form N-PORT. The Funds’ Form N-PORT is available without charge, upon request, by calling (215) 882-9983. Furthermore, you may obtain the Form N-PORT on the SEC’s website at www.sec.gov. Each Funds’ portfolio holdings are posted on their website at https://strivefunds.com/.
INFORMATION ABOUT PROXY VOTING (UNAUDITED)
A description of the policies and procedures the Funds use to determine how to vote proxies relating to portfolio securities is provided in the Statement of Additional Information (“SAI”). The SAI is available without charge upon request by calling (215) 882-9983, by accessing the SEC’s website at www.sec.gov, or by accessing the Funds’ website at https://strivefunds.com/.
When available, information regarding how the Funds voted proxies relating to portfolio securities during the twelve months ending June 30 is (1) available by calling (215) 882-9983 and (2) the SEC’s website at www.sec.gov.
FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS (UNAUDITED)
Information regarding how often shares of each Fund trade on an exchange at a price above (i.e., at premium) or below (i.e., at a discount) the NAV of each Fund is available, without charge, on the Funds’ website at https://strivefunds.com/.
EA Series Trust (the “Trust”) is strongly committed to preserving and safeguarding the personal financial information of any customers of the Trust. Confidentiality is extremely important to us.
Regulation S-P requires, among others, each investment company to “adopt written policies and procedures that address administrative, technical, and physical safeguards for the protection of customer records and information.” However, Pursuant to Regulation S-P’s definition of “customer,” the Trust currently does not have, nor does it anticipate having in the future, any customers. In addition, the Trust does not collect any non-public personal information from any consumers.
Nonetheless, the Trust has instituted certain technical, administrative and physical safeguards through which the Trust would seek to protect personal financial information about any customers from unauthorized use and access. First, technical procedures are used in order to limit the accessibility and exposure of Trust-maintained information contained in electronic form. If customer information were obtained by the Trust, such technical procedures would cover such information.
Second, administrative procedures that are in place, would be used to control the number and type of employees, affiliated and nonaffiliated persons, to whom customer information (if the Trust were to obtain any) would be accessible.
Third, physical safeguards have been established, which if customer information were obtained by the Trust, to prevent access to such information contained in hard-copy form.
As these procedures illustrate, the Trust realizes the importance of information confidentiality and security and emphasizes practices which are aimed at achieving those goals.
128
Adviser
Empowered Funds, LLC d/b/a EA Advisers
19 East Eagle Road
Havertown, Pennsylvania 19083
Sub-Adviser
Strive Asset Management, LLC
6515 Longshore Loop, Suite 100
Dublin, Ohio 43017
Distributor
Quasar Distributors, LLC
111 East Kilbourn Avenue, Suite 2200
Milwaukee, Wisconsin 53202
Custodian and Securities Lending Agent
U.S. Bank National Association Custody Operations
1555 North River Center Drive, Suite 302
Milwaukee, Wisconsin 53212
Transfer Agent
U.S. Bank Global Fund Services, LLC
615 East Michigan Street
Milwaukee, Wisconsin 53202
Independent Registered Public Accounting Firm
Cohen & Company, Ltd.
342 North Water Street, Suite 830
Milwaukee, Wisconsin 53202
Legal Counsel
Practus, LLP
11300 Tomahawk Creek Parkway, Suite 310
Leawood, Kansas 66211
Strive U.S. Energy ETF
Symbol – DRLL
CUSIP – 02072L722
Strive 500 ETF
Symbol – STRV
CUSIP – 02072L680
Strive U.S. Semiconductor ETF
Symbol – SHOC
CUSIP – 02072L672
Strive Emerging Markets Ex-China ETF
Symbol – STXE
CUSIP – 02072L698
Strive 1000 Dividend Growth ETF
Symbol – STXD
CUSIP – 02072L581
Strive 1000 Growth ETF
Symbol – STXG
CUSIP – 02072L615
Strive 1000 Value ETF
Symbol – STXV
CUSIP – 02072L599
Strive Small-Cap ETF
Symbol – STXK
CUSIP – 02072L573