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

 

    Page
Sector Allocations   1
Schedules of Investments   5 – 100
Statements of Assets and Liabilities   101
Statements of Operations   103
Statements of Changes in Net Assets   105
Financial Highlights   107
Notes to Financial Statements   108 – 120
Expense Example   121
Liquidity Risk Management Program   123
Management of the Funds   124 – 125
Board Review and Approval of Advisory and Sub-Advisory Agreements   126 – 127
Information About Portfolio Holdings   128
Information About Proxy Voting   128
Privacy Policy   128

 

 

 

 

STRIVE ETFs

 

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