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
Annual Report
July 31, 2023
STRIVE ETFs
TABLE OF CONTENTS
Page | ||
Letter to Shareholders | 1 – 4 | |
Sector Allocations | 5 – 20 | |
Index Overview | 21 | |
Schedules of Investments | 22 – 131 | |
Statements of Assets and Liabilities | 132 – 133 | |
Statements of Operations | 134 – 135 | |
Statements of Changes in Net Assets | 136 – 137 | |
Financial Highlights | 138 | |
Notes to Financial Statements | 139 – 155 | |
Report of Independent Registered Public Accounting Firm | 156 – 157 | |
Expense Example | 158 – 159 | |
Liquidity Risk Management Program | 160 | |
Federal Tax Information | 161 | |
Management of the Funds | 162 – 163 | |
Information About Portfolio Holdings | 164 | |
Information About Proxy Voting | 164 | |
Privacy Policy | 164 |
LETTER TO SHAREHOLDERS
JULY 31, 2023
6555 Longshore Street, Suite 220
Dublin, OH 43017
Phone: 872-270-5406
www.strivefunds.com
July 31, 2023
Dear Strive ETF Shareholders,
Thank you for your investment in the Strive U.S. Energy ETF (DRLL), Strive 500 ETF (STRV), Strive U.S. Semiconductor ETF (SHOC), Strive 1000 Dividend Growth ETF (STXD), Strive 1000 Growth ETF (STXG), Strive 1000 Value ETF (STXV), Strive Small-Cap ETF (STXK), and Strive Emerging Markets Ex-China ETF (STXE), collectively referred to as the “Funds”. The information presented in this letter relates to the operations of the Funds for their fiscal periods beginning on their respective inceptions through July 31, 2023. The inception dates are as follows: DRLL: August 8, 2022, STRV: September 14, 2022, SHOC: October 5, 2022, STXD: November 9, 2022, STXG: November 9, 2022, STXV: November 9, 2022, STXK: November 9, 2022, and STXE: January 30, 2023.
DRLL is a passively managed exchange-traded fund (“ETF”) that seeks to track the investment results of the Solactive United States Energy Regulated Capped Index (the “Index”), which measures the performance of the energy sector of the U.S. equity market as defined by Solactive AG. The Index includes large, and mid-capitalization companies.
STRV is a passively managed ETF that seeks to track the investment results of the Solactive GBS United States 500 Index (the “Index”), which is a float-adjusted, capitalization weighted index consisting of equity securities of the 500 largest companies in the U.S. stock market.
SHOC is a passively managed ETF that seeks to track the investment results of the Solactive United States Semiconductors 30 Capped Index (the “Index”), which measures the performance of the largest thirty (30) U.S. companies in the U.S. semiconductor sector as defined by Solactive AG. The Index includes large, mid, and small capitalization companies.
STXD is a passively managed ETF that seeks to track the investment results of the Bloomberg US 1000 Dividend Growth Index (the “Index”). The Index is a subset of the Bloomberg US 1000 Growth Index, which measures the performance of large- and mid-capitalization growth companies in the U.S. equity market as determined by Bloomberg.
STXG is a passively managed exchange-traded fund (“ETF”) that seeks to track the investment results of the Bloomberg US 1000 Growth Index (the “Index”), which measures the performance of large- and mid-capitalization growth companies in the U.S. equity market as determined by Bloomberg. The Index includes large- and mid-capitalization companies.
STXV is a passively managed ETF that seeks to track the investment results of the Bloomberg US 1000 Value Index (the “Index”), which measures the performance of the large- and mid-capitalization value sector of the U.S. equity market as determined by Bloomberg. The Index includes large- and mid-capitalization companies.
1
STRIVE ETFs
LETTER TO SHAREHOLDERS (CONTINUED)
JULY 31, 2023
STXK is a passively managed ETF that, as of January 25, 2023, seeks to track the investment results of the Bloomberg US 600 Index (the “Index”), which measures the performance of the small-capitalization sector in the U.S. equity market as determined by Bloomberg. Prior to January 25, 2023, the ETF sought to track the investment results of the Bloomberg US 2000 Index, which measures the performance of the small- and mid-capitalization sectors of the U.S. equity market as determined by Bloomberg and includes small- and mid-capitalization companies.
STXE is a passively managed ETF that seeks to track the investment results of the Bloomberg Emerging Markets ex China Large & Mid Cap Index (the “Index”), which tracks large and mid-capitalization equity securities across 24 emerging market economies, excluding China. Components of the Index are selected and weighted according to free-float market capitalization.
Strive launched eight passively managed ETFs during its first fiscal year ending July 31, 2023. One of Strive’s core differentiators is our approach to shareholder voting and engagement, in which we are unapologetically committed to shareholder primacy and believe the purpose of a for-profit company is to maximize long-run value to investors. We leverage our voice and vote to maximize long-run client value by mandating the corporate pursuit of excellence through our variety of investment funds and client solutions.
DRLL
For FY 2023, DRLL was up 20.15% at its market price and up 20.22% at net asset value (“NAV”). Over the period, DRLL underperformed the Solactive United States Energy Regulated Capped Index, which was up 20.60%.
DRLL distributes income to shareholders on a quarterly basis.
STRV
For FY 2023, STRV was up 17.92% at its market price and up 17.85% at net asset value (“NAV”). Over the period, STRV underperformed the Solactive GBS United States 500 Index, which was up 17.95%.
STRV distributes income to shareholders on a quarterly basis.
SHOC
For FY 2023, SHOC was up 47.06% at its market price and up 47.03% at net asset value (“NAV”). Over the period, SHOC underperformed the Solactive United States Semiconductors 30 Capped Index, which was up 47.62%.
SHOC distributes income to shareholders on a quarterly basis.
STXD
For FY 2023, STXD was up 14.97% at its market price and up 14.90% at net asset value (“NAV”). Over the period, STXD underperformed the Bloomberg US 1000 Dividend Growth Index, which was up 15.22%.
STXD distributes income to shareholders on a quarterly basis.
STXG
For FY 2023, STXG was up 31.78% at its market price and up 31.88% at net asset value (“NAV”). Over the period, STXG underperformed the Bloomberg US 1000 Growth Index, which was up 32.12%.
STXG distributes income to shareholders on a quarterly basis.
2
STRIVE ETFs
LETTER TO SHAREHOLDERS (CONTINUED)
JULY 31, 2023
STXV
For FY 2023, STXV was up 8.93% at its market price and up 9.03% at net asset value (“NAV”). Over the period, STXV underperformed the Bloomberg US 1000 Value Index, which was up 9.16%.
STXV distributes income to shareholders on a quarterly basis.
STXK
For FY 2023, STXK was up 16.33% at its market price and up 16.20% at net asset value (“NAV”). Over the period, STXK underperformed the Bloomberg US 600 Index, which was up 17.12%.
STXK distributes income to shareholders on a quarterly basis.
STXE
For FY 2023, STXE was up 8.24% at its market price and up 7.49% at net asset value (“NAV”). Over the period, STXE outperformed the Bloomberg Emerging Markets ex China Large & Mid Cap Index, which was up 7.64%.
STXE distributes income to shareholders on a quarterly basis.
We appreciate your continued investment in the Funds and thank you for being clients of Strive. We remain committed to maximizing shareholder value above any other non-pecuniary factors.
Sincerely,
/s/ Matthew Cole
Matthew Cole, CFA
Portfolio Manager
Chief Executive Officer and Chief Investment Officer
Strive Asset Management, LLC
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.
Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. ETF shares may only be redeemed at NAV by authorized participants in large creation units. There can be no guarantee that an active trading market for shares will exist. The trading of shares may incur brokerage commissions.
Any offering must be preceded or accompanied by a prospectus.
Investments involve risk and principal loss is possible. There can be no assurance that the Fund will achieve its investment objective. The Fund is subject to the following principal risks, among others:
Please refer to the prospectus for each respective ETF for additional risk information.
3
STRIVE ETFs
LETTER TO SHAREHOLDERS (CONTINUED)
JULY 31, 2023
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. We make no representation or warranty as to the accuracy or completeness of the information contained in this report, including third-party data sources. The views expressed are as of the publication date and subject to change at any time. No part of this material may be reproduced in any form or referred to in any other publication without express written permission. References to other funds should not be interpreted as an offer or recommendation of these securities.
The Funds are distributed by Quasar Distributors, LLC. The Funds’ investment adviser is Empowered Funds, LLC dba EA Advisers. The Funds’ investment sub-adviser is Strive Asset Management, LLC.
4
Strive U.S. Energy ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(August 9, 2022) | ||
Strive U.S. Energy ETF - NAV | 20.22% | |
Strive U.S. Energy ETF - MKT | 20.15% | |
Solactive United States Energy Regulated Capped Index TR | 20.60% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on August 9, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
5
STRIVE ETFs
Strive U.S. Energy ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Energy | 92.8 | %2 | ||
Utilities | 6.0 | % | ||
Industrials | 0.7 | % | ||
Materials | 0.1 | % | ||
Other3 | 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. | 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. |
6
STRIVE ETFs
Strive 500 ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(September 15, 2022) | ||
Strive 500 ETF - NAV | 17.85% | |
Strive 500 ETF - MKT | 17.92% | |
Solactive GBS United States 500 Index TR | 17.95% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on September 15, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
7
STRIVE ETFs
Strive 500 ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Information Technology | 28.9 | %2 | ||
Health Care | 13.0 | % | ||
Financials | 12.4 | % | ||
Consumer Discretionary | 10.4 | % | ||
Communication Services | 8.8 | % | ||
Industrials | 8.5 | % | ||
Consumer Staples | 6.3 | % | ||
Energy | 4.3 | % | ||
Utilities | 2.4 | % | ||
Materials | 2.4 | % | ||
Real Estate | 2.2 | % | ||
Other3 | 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. | 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. |
8
STRIVE ETFs
Strive U.S. Semiconductor ETF
Growth of $10,000 (Unaudited)
Average Annual | ||
Since Inception | ||
(October 6, 2022) | ||
Strive U.S. Semiconductor ETF - NAV | 47.03% | |
Strive U.S. Semiconductor ETF - MKT | 47.06% | |
Solactive United States Semiconductors 30 Capped Index TR | 47.62% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on October 6, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
9
STRIVE ETFs
Strive U.S. Semiconductor ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Information Technology | 99.8 | %2 | ||
Other3 | 0.2 | % | ||
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. |
10
STRIVE ETFs
Strive Emerging Markets Ex-China ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(January 31, 2023) | ||
Strive Emerging Markets Ex-China ETF - NAV | 7.49% | |
Strive Emerging Markets Ex-China ETF - MKT | 8.24% | |
Bloomberg Emerging Markets Ex-China Large & Mid-Cap Net Return Index | 7.64% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on January 31, 2023. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
11
STRIVE ETFs
Strive Emerging Markets Ex-China ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Financials | 27.5 | %2 | ||
Information Technology | 23.7 | % | ||
Materials | 9.7 | % | ||
Energy | 9.2 | % | ||
Industrials | 8.1 | % | ||
Consumer Staples | 5.8 | % | ||
Communication Services | 4.9 | % | ||
Consumer Discretionary | 4.8 | % | ||
Utilities | 2.5 | % | ||
Health Care | 2.3 | % | ||
Real Estate | 1.1 | % | ||
Other3 | 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. | 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. |
12
STRIVE ETFs
Strive 1000 Dividend Growth ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(November 10, 2022) | ||
Strive 1000 Dividend Growth ETF - NAV | 14.90% | |
Strive 1000 Dividend Growth ETF - MKT | 14.97% | |
Bloomberg US 1000 Dividend Growth Total Return Index | 15.22% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on November 10, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
13
STRIVE ETFs
Strive 1000 Dividend Growth ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Health Care | 23.5 | % | ||
Information Technology | 23.4 | % | ||
Industrials | 13.3 | % | ||
Financials | 11.7 | % | ||
Consumer Staples | 8.8 | % | ||
Consumer Discretionary | 7.2 | % | ||
Real Estate | 3.2 | % | ||
Utilities | 3.1 | % | ||
Energy | 2.9 | % | ||
Materials | 2.3 | % | ||
Communication Services | 0.1 | % | ||
Other2 | 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. |
2. | Cash, cash equivalents, short-term investments and other assets less liabilities. |
14
STRIVE ETFs
Strive 1000 Growth ETF
Growth of $10,000 (Unaudited)
Average Annual | ||
Since Inception | ||
(November 10, 2022) | ||
Strive 1000 Growth ETF - NAV | 31.88% | |
Strive 1000 Growth ETF - MKT | 31.78% | |
Bloomberg US 1000 Growth Total Return Index | 32.12% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on November 10, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
15
STRIVE ETFs
Strive 1000 Growth ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Information Technology | 36.8 | %2 | ||
Health Care | 13.8 | % | ||
Consumer Discretionary | 13.2 | % | ||
Communication Services | 8.5 | % | ||
Financials | 8.2 | % | ||
Industrials | 8.2 | % | ||
Consumer Staples | 5.7 | % | ||
Real Estate | 2.4 | % | ||
Materials | 1.4 | % | ||
Utilities | 0.8 | % | ||
Energy | 0.8 | % | ||
Other3 | 0.2 | % | ||
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. |
16
STRIVE ETFs
Strive 1000 Value ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(November 10, 2022) | ||
Strive 1000 Value ETF - NAV | 9.03% | |
Strive 1000 Value ETF - MKT | 8.93% | |
Bloomberg US 1000 Value Total Return Index | 9.16% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on November 10, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
17
STRIVE ETFs
Strive 1000 Value ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Financials | 21.6 | % | ||
Energy | 11.9 | % | ||
Industrials | 11.8 | % | ||
Health Care | 11.5 | % | ||
Communication Services | 8.0 | % | ||
Consumer Staples | 7.7 | % | ||
Information Technology | 7.5 | % | ||
Utilities | 5.9 | % | ||
Consumer Discretionary | 5.7 | % | ||
Real Estate | 4.1 | % | ||
Materials | 3.7 | % | ||
Other2 | 0.6 | % | ||
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. |
18
STRIVE ETFs
Strive Small-Cap ETF
Growth of $10,000 (Unaudited)
Average Annual Return* | ||
Since Inception | ||
(November 10, 2022) | ||
Strive Small-Cap ETF - NAV | 16.20% | |
Strive Small-Cap ETF - MKT | 16.33% | |
Bloomberg US 600 Total Return Index | 17.12% |
See “Index Overview” section for a description of the Index.
* | This chart assumes an initial gross investment of $10,000 made on November 10, 2022. Returns shown include the dividends. Past performance does not guarantee future results. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more or less than the original cost. |
19
STRIVE ETFs
Strive Small-Cap ETF
Tabular Presentation of Schedule of Investments
As of July 31, 2023
Sector1 | %
Net Assets |
|||
Industrials | 18.2 | % | ||
Information Technology | 15.9 | % | ||
Financials | 15.0 | % | ||
Health Care | 12.5 | % | ||
Consumer Discretionary | 11.2 | % | ||
Real Estate | 6.6 | % | ||
Materials | 5.2 | % | ||
Energy | 5.1 | % | ||
Utilities | 4.0 | % | ||
Consumer Staples | 3.8 | % | ||
Communication Services | 1.9 | % | ||
Other2 | 0.6 | % | ||
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. |
20
INDEX OVERVIEW (UNAUDITED)
July 31, 2023
Solactive United States Energy Regulated Capped Index
The Solactive United States Energy Regulated Capped Index is a subset of the GBS Index Universe of the Solactive GBS United States 1000 Index with selection criteria contingent on being assigned to one of the following national industries, according to the North America Industry Classification System (NAICS): Crude Petroleum Extraction, Natural Gas Extraction, Bituminous Coal and Lignite Surface Mining, Bituminous Coal Underground Mining, Anthracite Mining, Drilling Oil and Gas Wells, Support Activities for Oil and Gas Operations, Support Activities for Coal Mining, Hydroelectric Power Generation, Nuclear Electric Power Generation, Solar Electric Power Generation, Wind Electric Power Generation, Geothermal Electric Power Generation, and Biomass Electric Power Generation.
The Solactive GBS United States 1000 Index intends to track the performance of the largest 1000 companies from the US stock market and is based on the Solactive Global Benchmark Series. Constituents are selected based on company market capitalization and weighted by free float market capitalization. The index is calculated as a net total return index in USD and is reconstituted quarterly.
Solactive GBS United States 500 Index
The Solactive GBS United States 500 Index intends to track the performance of the largest 500 companies from the US stock market and is based on the Solactive Global Benchmark Series. Constituents are selected based on company market capitalization and weighted by free float market capitalization. The index is calculated as a total return index in USD and is reconstituted quarterly.
Solactive United States Semiconductors 30 Capped Index
The Solactive United States Semiconductors 30 Capped Index is a representation of the largest 30 securities in the semiconductors industry in the United States stock market. To be eligible for inclusion in the index, securities must be assigned either to the Semiconductor and Related Device Manufacturing Industry or to the Semiconductor Machinery Manufacturing.
Bloomberg Emerging Markets Ex-China Large & Mid-Cap Index
The Bloomberg Emerging Markets ex China Large & Mid Cap Index is a float market-cap-weighted equity benchmark that covers 85% market cap of the measured market.
Bloomberg US 1000 Dividend Growth Index
The Bloomberg US 1000 Dividend Growth Index aims to track a subset of stocks in the Bloomberg US 1000 Growth Index which have increased their trailing full year dividend payment for five consecutive years and have a calculated five year dividend growth rate greater than the benchmark index.
Bloomberg US 1000 Growth Index
The Bloomberg US 1000 Growth Index provides exposure to companies with superior growth factor scores based on their earnings yield, valuation, dividend yield, and growth.
Bloomberg US 1000 Value Index
The Bloomberg US 1000 Value Index provides exposure to companies with superior value factor scores based on their earnings yield, valuation, dividend yield, and growth.
Bloomberg US 600 Index
The Bloomberg US 600 Index is a float market-cap-weighted benchmark of the lower 600 in capitalization of the Bloomberg US 1500 Index.
The Bloomberg US 1500 Index is a float market-cap-weighted benchmark of the 1500 most highly capitalized US companies.
21
Strive U.S. Energy ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 99.6% | ||||||||
Aerospace & Defense - 0.3% | ||||||||
17,063 | BWX Technologies, Inc. | $ | 1,177,347 | |||||
Construction & Engineering - 0.2% | ||||||||
36,107 | MDU Resources Group, Inc. | 798,687 | ||||||
Construction Materials - 0.1% | ||||||||
8,904 | Knife River Corp. (a) | 387,057 | ||||||
Electric Utilities - 2.5% | ||||||||
187,935 | Exelon Corp. | 7,866,959 | ||||||
9,455 | IDACORP, Inc. | 972,163 | ||||||
8,839,122 | ||||||||
Electrical Components & Equipment - 0.2% | ||||||||
38,453 | Sunrun, Inc. (a) | 729,838 | ||||||
Gas Utilities - 2.1% | ||||||||
58,117 | APA Corp | 2,353,157 | ||||||
27,017 | Atmos Energy Corp | 3,288,239 | ||||||
16,255 | National Fuel Gas Co. | 863,303 | ||||||
13,143 | Southwest Gas Holdings, Inc. | 866,649 | ||||||
7,371,348 | ||||||||
Independent Power Producers & Energy Traders - 0.8% | ||||||||
125,470 | AES Corp. | 2,713,916 | ||||||
Integrated Oil & Gas - 37.8% | ||||||||
328,380 | Chevron Corp. | 53,742,671 | ||||||
690,287 | Exxon Mobil Corp. | 74,026,378 | ||||||
133,453 | Occidental Petroleum Corp. | 8,424,888 | ||||||
136,193,937 | ||||||||
Multi-Utilities - 0.6% | ||||||||
77,427 | NiSource, Inc. | 2,155,568 | ||||||
Oil & Gas Drilling - 0.5% | ||||||||
18,691 | Helmerich & Payne, Inc. | 836,796 | ||||||
19,347 | Noble Corp. PLC ADR (b) | 1,011,268 | ||||||
1,848,064 | ||||||||
Oil & Gas Equipment & Services - 6.6% | ||||||||
170,473 | Halliburton Co. | 6,662,085 | ||||||
72,484 | NOV, Inc. | 1,455,479 | ||||||
268,649 | Schlumberger Ltd. ADR (b) | 15,672,983 | ||||||
23,790,547 | ||||||||
Oil & Gas Exploration & Production - 27.0% | ||||||||
59,327 | Antero Midstream Corp | 708,364 | ||||||
48,009 | Antero Resources Corp (a) | 1,284,241 | ||||||
21,287 | Chesapeake Energy Corp. | 1,795,345 | ||||||
7,643 | Chord Energy Corp. | 1,198,728 |
The accompanying notes are an integral part of these financial statements.
22
Strive U.S. Energy ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
12,398 | Civitas Resources, Inc. | $ | 928,114 | |||||
230,070 | ConocoPhillips | 27,083,840 | ||||||
142,735 | Coterra Energy, Inc. | 3,930,922 | ||||||
122,810 | Devon Energy Corp. | 6,631,740 | ||||||
32,958 | Diamondback Energy, Inc. | 4,855,372 | ||||||
111,113 | EOG Resources, Inc. | 14,725,806 | ||||||
63,914 | EQT Corp. | 2,695,893 | ||||||
52,263 | Hess Corp. | 7,929,865 | ||||||
34,481 | Magnolia Oil & Gas Corp. - Class A | 763,754 | ||||||
117,959 | Marathon Oil Corp. | 3,098,783 | ||||||
20,718 | Matador Resources Co. | 1,152,542 | ||||||
27,599 | Murphy Oil Corp. | 1,194,209 | ||||||
45,813 | Ovintiv, Inc. | 2,111,521 | ||||||
16,251 | PDC Energy, Inc. | 1,233,288 | ||||||
39,431 | Permian Resources Corp. | 460,948 | ||||||
44,262 | Pioneer Natural Resources Co. | 9,988,605 | ||||||
43,651 | Range Resources Corp. | 1,371,951 | ||||||
22,471 | SM Energy Co. | 815,473 | ||||||
181,066 | Southwestern Energy Co. (a) | 1,173,308 | ||||||
97,132,612 | ||||||||
Oil & Gas Refining & Marketing - 9.3% | ||||||||
31,916 | Brookfield Renewable Corp - Class A ADR (b)(c) | 994,822 | ||||||
29,813 | HF Sinclair Corp. | 1,552,959 | ||||||
84,331 | Marathon Petroleum Corp. | 11,217,710 | ||||||
21,440 | PBF Energy, Inc. - Class A | 1,017,114 | ||||||
87,773 | Phillips 66 | 9,791,078 | ||||||
70,024 | Valero Energy Corp. | 9,026,794 | ||||||
33,600,477 | ||||||||
Oil & Gas Storage & Transportation - 11.2% | ||||||||
190,772 | Baker Hughes Co | 6,827,730 | ||||||
45,539 | Cheniere Energy, Inc. | 7,370,942 | ||||||
17,915 | DT Midstream, Inc. | 958,811 | ||||||
43,651 | EnLink Midstream LLC | 506,352 | ||||||
7,630 | Hess Midstream LP - Class A | 237,980 | ||||||
371,865 | Kinder Morgan, Inc. | 6,585,729 | ||||||
14,417 | New Fortress Energy, Inc. | 411,605 | ||||||
84,076 | ONEOK, Inc. | 5,636,455 | ||||||
33,868 | Plains GP Holdings LP - Class A | 531,389 | ||||||
42,135 | Targa Resources Corp. | 3,454,649 | ||||||
230,375 | Williams Cos., Inc. | 7,936,419 | ||||||
40,458,061 | ||||||||
Renewable Electricity - 0.4% | ||||||||
5,604 | Clearway Energy, Inc. - Class A | 138,251 | ||||||
14,606 | Clearway Energy, Inc. - Class C | 385,744 | ||||||
15,919 | NextEra Energy Partners LP | 866,789 | ||||||
1,390,784 | ||||||||
TOTAL COMMON STOCKS (Cost $337,756,725) | 358,587,365 |
The accompanying notes are an integral part of these financial statements.
23
Strive U.S. Energy ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.0% (d) | ||||||||
48,000 | First American Government Obligations Fund - Class X, 5.14% (e) | $ | 48,000 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $48,000) | 48,000 | |||||||
MONEY MARKET FUNDS - 0.4% | ||||||||
1,435,943 | First American Government Obligations Fund - Class X, 5.14% (e) | 1,435,943 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $1,435,943) | 1,435,943 | |||||||
TOTAL INVESTMENTS (Cost $339,240,668) - 100.0% | $ | 360,071,308 | ||||||
Other Assets in Excess of Liabilities - 0.0% (d) | 132,068 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 360,203,376 |
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 July 31, 2023. Total loaned securities had a market value of $46,755 as of July 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 500 ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 97.3% | ||||||||
Advertising - 0.1% | ||||||||
1,236 | Omnicom Group, Inc. | $ | 104,590 | |||||
2,752 | Trade Desk, Inc. - Class A (a) | 251,148 | ||||||
355,738 | ||||||||
Aerospace & Defense - 1.6% | ||||||||
471 | Axon Enterprise, Inc. (a) | 87,573 | ||||||
3,902 | Boeing Co. (a) | 931,993 | ||||||
1,433 | General Dynamics Corp. | 320,390 | ||||||
488 | HEICO Corp. - Class A | 68,491 | ||||||
395 | HEICO Corp. | 69,512 | ||||||
2,616 | Howmet Aerospace, Inc. | 133,782 | ||||||
1,204 | L3Harris Technologies, Inc. | 228,146 | ||||||
1,617 | Lockheed Martin Corp. | 721,780 | ||||||
943 | Northrop Grumman Corp. | 419,635 | ||||||
9,460 | RTX Corp. | 831,818 | ||||||
351 | TransDigm Group, Inc. | 315,802 | ||||||
4,128,922 | ||||||||
Agricultural & Farm Machinery - 0.3% | ||||||||
1,748 | Deere & Co. | 750,941 | ||||||
Agricultural Products & Services - 0.1% | ||||||||
3,471 | Archer-Daniels-Midland Co. | 294,896 | ||||||
Air Freight & Logistics - 0.6% | ||||||||
1,032 | Expeditors International of Washington, Inc. | 131,374 | ||||||
1,491 | FedEx Corp. | 402,495 | ||||||
4,710 | United Parcel Service, Inc. - Class B | 881,382 | ||||||
1,415,251 | ||||||||
Apparel Retail - 0.4% | ||||||||
2,254 | Ross Stores, Inc. | 258,399 | ||||||
7,426 | TJX Cos., Inc. | 642,572 | ||||||
900,971 | ||||||||
Apparel, Accessories & Luxury Goods - 0.1% | ||||||||
708 | Lululemon Athletica, Inc. (a) | 267,999 | ||||||
Application Software - 2.9% | ||||||||
2,950 | Adobe, Inc. (a) | 1,611,201 | ||||||
603 | Ansys, Inc. (a) | 206,286 | ||||||
176 | Aspen Technology, Inc. (a) | 31,416 | ||||||
879 | Atlassian Corp. - Class A (a) | 159,925 | ||||||
1,376 | Autodesk, Inc. (a) | 291,698 | ||||||
1,376 | Bentley Systems, Inc. - Class B | 74,139 | ||||||
1,720 | Cadence Design Systems, Inc. (a) | 402,497 | ||||||
2,021 | Datadog, Inc. - Class A (a) | 235,891 | ||||||
181 | Fair Isaac Corp. (a) | 151,673 | ||||||
309 | HubSpot, Inc. (a) | 179,390 |
The accompanying notes are an integral part of these financial statements.
25
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
1,758 | Intuit, Inc. | $ | 899,569 | |||||
11,008 | Palantir Technologies, Inc. - Class A (a) | 218,399 | ||||||
688 | Roper Technologies, Inc. | 339,218 | ||||||
6,301 | Salesforce, Inc. (a) | 1,417,788 | ||||||
1,032 | Splunk, Inc. (a) | 111,797 | ||||||
995 | Synopsys, Inc. (a) | 449,541 | ||||||
237 | Tyler Technologies, Inc. (a) | 94,001 | ||||||
1,275 | Workday, Inc. - Class A (a) | 302,341 | ||||||
1,376 | Zoom Video Communications, Inc. - Class A (a) | 100,930 | ||||||
7,277,700 | ||||||||
Asset Management & Custody Banks - 1.0% | ||||||||
688 | Ameriprise Financial, Inc. | 239,734 | ||||||
898 | Ares Management Corp. - Class A | 89,100 | ||||||
5,018 | Bank of New York Mellon Corp. | 227,616 | ||||||
964 | BlackRock, Inc. | 712,251 | ||||||
4,472 | Blackstone, Inc. | 468,621 | ||||||
2,752 | Blue Owl Capital, Inc. | 33,905 | ||||||
1,892 | Franklin Resources, Inc. | 55,322 | ||||||
4,138 | KKR & Co., Inc. | 245,714 | ||||||
1,230 | Northern Trust Corp. | 98,548 | ||||||
2,236 | State Street Corp. | 161,976 | ||||||
1,500 | T. Rowe Price Group, Inc. | 184,890 | ||||||
2,517,677 | ||||||||
Automobile Manufacturers - 2.2% | ||||||||
25,112 | Ford Motor Co. | 331,730 | ||||||
8,819 | General Motors Co. | 338,385 | ||||||
3,612 | Lucid Group, Inc. (a) | 27,487 | ||||||
3,276 | Rivian Automotive, Inc. - Class A (a) | 90,549 | ||||||
17,740 | Tesla, Inc. (a) | 4,744,208 | ||||||
5,532,359 | ||||||||
Automotive Parts & Equipment - 0.1% | ||||||||
1,720 | Aptiv PLC ADR (a)(b) | 188,323 | ||||||
258 | Mobileye Global, Inc. - Class A (a) | 9,850 | ||||||
198,173 | ||||||||
Automotive Retail - 0.2% | ||||||||
99 | AutoZone, Inc. (a) | 245,690 | ||||||
379 | O’Reilly Automotive, Inc. (a) | 350,874 | ||||||
596,564 | ||||||||
Biotechnology - 2.1% | ||||||||
11,411 | AbbVie, Inc. | 1,706,857 | ||||||
805 | Alnylam Pharmaceuticals, Inc. (a) | 157,297 | ||||||
3,440 | Amgen, Inc. | 805,476 | ||||||
906 | Biogen, Inc. (a) | 244,792 | ||||||
1,204 | BioMarin Pharmaceutical, Inc. (a) | 105,868 | ||||||
7,966 | Gilead Sciences, Inc. | 606,531 | ||||||
1,405 | Horizon Therapeutics PLC ADR (a)(b) | 140,879 | ||||||
1,204 | Incyte Corp. (a) | 76,719 |
The accompanying notes are an integral part of these financial statements.
26
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
2,105 | Moderna, Inc. (a) | $ | 247,674 | |||||
635 | Regeneron Pharmaceuticals, Inc. (a) | 471,113 | ||||||
860 | Seagen, Inc. (a) | 164,931 | ||||||
1,681 | Vertex Pharmaceuticals, Inc. (a) | 592,284 | ||||||
5,320,421 | ||||||||
Broadcasting - 0.1% | ||||||||
1,910 | Fox Corp. - Class A | 63,890 | ||||||
860 | Fox Corp. - Class B | 27,013 | ||||||
3,647 | Paramount Global - Class B | 58,461 | ||||||
149,364 | ||||||||
Broadline Retail - 3.4% | ||||||||
58,387 | Amazon.com, Inc. (a) | 7,805,174 | ||||||
6,978 | Coupang, Inc. (a) | 126,651 | ||||||
16 | Dillard’s, Inc. - Class A | 5,489 | ||||||
3,612 | eBay, Inc. | 160,770 | ||||||
729 | Etsy, Inc. (a) | 74,103 | ||||||
275 | MercadoLibre, Inc. (a) | 340,464 | ||||||
8,512,651 | ||||||||
Building Products - 0.4% | ||||||||
252 | Carlisle Cos., Inc. | 69,854 | ||||||
5,332 | Carrier Global Corp. | 317,521 | ||||||
4,472 | Johnson Controls International PLC ADR (b) | 311,028 | ||||||
194 | Lennox International, Inc. | 71,283 | ||||||
1,496 | Trane Technologies PLC ADR (b) | 298,362 | ||||||
1,068,048 | ||||||||
Cable & Satellite - 0.6% | ||||||||
660 | Charter Communications, Inc. - Class A (a) | 267,425 | ||||||
27,005 | Comcast Corp. - Class A | 1,222,246 | ||||||
4,313 | Sirius XM Holdings, Inc. | 21,996 | ||||||
1,511,667 | ||||||||
Cargo Ground Transportation - 0.1% | ||||||||
516 | JB Hunt Transport Services, Inc. | 105,233 | ||||||
579 | Old Dominion Freight Line, Inc. | 242,885 | ||||||
348,118 | ||||||||
Casinos & Gaming - 0.1% | ||||||||
2,064 | Las Vegas Sands Corp. | 123,448 | ||||||
1,926 | MGM Resorts International | 97,783 | ||||||
221,231 | ||||||||
Commercial & Residential Mortgage Finance - 0.0% (c) | ||||||||
688 | Rocket Cos., Inc. - Class A (a)(d) | 7,520 | ||||||
Commodity Chemicals - 0.2% | ||||||||
4,489 | Dow, Inc. | 253,494 | ||||||
1,576 | LyondellBasell Industries N.V. - Class A ADR (b) | 155,803 | ||||||
409,297 |
The accompanying notes are an integral part of these financial statements.
27
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Communications Equipment - 0.8% | ||||||||
1,548 | Arista Networks, Inc. (a) | $ | 240,079 | |||||
26,739 | Cisco Systems, Inc. | 1,391,498 | ||||||
1,051 | Motorola Solutions, Inc. | 301,248 | ||||||
12 | Ubiquiti, Inc. | 2,132 | ||||||
1,934,957 | ||||||||
Computer & Electronics Retail - 0.0% (c) | ||||||||
1,231 | Best Buy Co., Inc. | 102,235 | ||||||
Construction & Engineering - 0.1% | ||||||||
875 | Quanta Services, Inc. | 176,418 | ||||||
Construction Machinery & Heavy Transportation Equipment - 0.6% | ||||||||
3,301 | Caterpillar, Inc. | 875,326 | ||||||
881 | Cummins, Inc. | 229,765 | ||||||
3,311 | PACCAR, Inc. | 285,176 | ||||||
1,233 | Westinghouse Air Brake Technologies Corp. | 146,037 | ||||||
1,536,304 | ||||||||
Construction Materials - 0.1% | ||||||||
382 | Martin Marietta Materials, Inc. | 170,548 | ||||||
860 | Vulcan Materials Co. | 189,630 | ||||||
360,178 | ||||||||
Consumer Electronics - 0.0% (c) | ||||||||
1,032 | Garmin Ltd. ADR (b) | 109,278 | ||||||
Consumer Finance - 0.5% | ||||||||
3,810 | American Express Co. | 643,433 | ||||||
2,408 | Capital One Financial Corp. | 281,784 | ||||||
1,720 | Discover Financial Services | 181,546 | ||||||
2,975 | Synchrony Financial | 102,757 | ||||||
1,209,520 | ||||||||
Consumer Staples Merchandise Retail - 1.5% | ||||||||
2,822 | Costco Wholesale Corp. | 1,582,211 | ||||||
1,395 | Dollar General Corp. | 235,560 | ||||||
1,246 | Dollar Tree, Inc. (a) | 192,295 | ||||||
2,924 | Target Corp. | 399,038 | ||||||
9,261 | Walmart, Inc. | 1,480,463 | ||||||
3,889,567 | ||||||||
Copper - 0.2% | ||||||||
9,116 | Freeport-McMoRan, Inc. | 407,029 | ||||||
526 | Southern Copper Corp. | 45,993 | ||||||
453,022 | ||||||||
Data Processing & Outsourced Services - 0.1% | ||||||||
719 | Broadridge Financial Solutions, Inc. | 120,734 | ||||||
1,376 | SS&C Technologies Holdings, Inc. | 80,152 | ||||||
200,886 |
The accompanying notes are an integral part of these financial statements.
28
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Distillers & Vintners - 0.2% | ||||||||
1,892 | Brown-Forman Corp. - Class B | $ | 133,575 | |||||
1,046 | Constellation Brands, Inc. - Class A | 285,349 | ||||||
418,924 | ||||||||
Distributors - 0.1% | ||||||||
860 | Genuine Parts Co. | 133,919 | ||||||
254 | Pool Corp. | 97,724 | ||||||
231,643 | ||||||||
Diversified Banks - 2.8% | ||||||||
45,881 | Bank of America Corp. | 1,468,192 | ||||||
12,384 | Citigroup, Inc. | 590,221 | ||||||
4,300 | Fifth Third Bancorp | 125,130 | ||||||
18,835 | JPMorgan Chase & Co. | 2,975,177 | ||||||
5,848 | KeyCorp | 71,989 | ||||||
2,580 | PNC Financial Services Group, Inc. | 353,176 | ||||||
9,514 | U.S. Bancorp | 377,516 | ||||||
24,670 | Wells Fargo & Co. | 1,138,767 | ||||||
7,100,168 | ||||||||
Diversified Financial Services - 0.1% | ||||||||
2,669 | Apollo Global Management, Inc. | 218,084 | ||||||
Diversified Support Services - 0.2% | ||||||||
545 | Cintas Corp. | 273,612 | ||||||
2,869 | Copart, Inc. (a) | 253,591 | ||||||
527,203 | ||||||||
Drug Retail - 0.1% | ||||||||
4,472 | Walgreens Boots Alliance, Inc. | 134,026 | ||||||
Electric Utilities - 1.6% | ||||||||
1,548 | Alliant Energy Corp. | 83,190 | ||||||
3,412 | American Electric Power Co., Inc. | 289,133 | ||||||
390 | Avangrid, Inc. | 14,461 | ||||||
2,064 | Constellation Energy Corp. | 199,486 | ||||||
4,988 | Duke Energy Corp. | 466,977 | ||||||
2,408 | Edison International | 173,280 | ||||||
1,311 | Entergy Corp. | 134,640 | ||||||
1,400 | Evergy, Inc. | 83,958 | ||||||
2,236 | Eversource Energy | 161,730 | ||||||
6,611 | Exelon Corp. | 276,736 | ||||||
3,440 | FirstEnergy Corp. | 135,502 | ||||||
13,003 | NextEra Energy, Inc. | 953,120 | ||||||
10,070 | PG&E Corp. (a) | 177,333 | ||||||
4,644 | PPL Corp. | 127,849 | ||||||
7,120 | Southern Co. | 515,061 | ||||||
3,440 | Xcel Energy, Inc. | 215,791 | ||||||
4,008,247 |
The accompanying notes are an integral part of these financial statements.
29
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Electrical Components & Equipment - 0.5% | ||||||||
1,405 | AMETEK, Inc. | $ | 222,833 | |||||
2,580 | Eaton Corp. PLC ADR (b) | 529,726 | ||||||
3,784 | Emerson Electric Co. | 345,668 | ||||||
749 | Rockwell Automation, Inc. | 251,881 | ||||||
1,350,108 | ||||||||
Electronic Components - 0.2% | ||||||||
3,784 | Amphenol Corp. - Class A | 334,165 | ||||||
5,416 | Corning, Inc. | 183,819 | ||||||
517,984 | ||||||||
Electronic Equipment & Instruments - 0.2% | ||||||||
1,217 | Keysight Technologies, Inc. (a) | 196,034 | ||||||
259 | Teledyne Technologies, Inc. (a) | 99,593 | ||||||
1,548 | Trimble, Inc. (a) | 83,282 | ||||||
344 | Zebra Technologies Corp. - Class A (a) | 105,938 | ||||||
484,847 | ||||||||
Electronic Manufacturing Services - 0.1% | ||||||||
775 | Jabil, Inc. | 85,769 | ||||||
2,064 | TE Connectivity Ltd. ADR (b) | 296,163 | ||||||
381,932 | ||||||||
Environmental & Facilities Services - 0.3% | ||||||||
1,376 | Republic Services, Inc. | 207,927 | ||||||
1,548 | Rollins, Inc. | 63,205 | ||||||
2,611 | Waste Management, Inc. | 427,656 | ||||||
698,788 | ||||||||
Fertilizers & Agricultural Chemicals - 0.2% | ||||||||
1,227 | CF Industries Holdings, Inc. | 100,712 | ||||||
4,644 | Corteva, Inc. | 262,061 | ||||||
747 | FMC Corp. | 71,884 | ||||||
2,236 | Mosaic Co. | 91,139 | ||||||
525,796 | ||||||||
Financial Exchanges & Data - 1.0% | ||||||||
2,262 | CME Group, Inc. | 450,048 | ||||||
228 | FactSet Research Systems, Inc. | 99,189 | ||||||
3,612 | Intercontinental Exchange, Inc. | 414,658 | ||||||
1,032 | Moody’s Corp. | 364,038 | ||||||
518 | MSCI, Inc. | 283,905 | ||||||
2,236 | Nasdaq, Inc. | 112,896 | ||||||
2,075 | S&P Global, Inc. | 818,608 | ||||||
688 | Tradeweb Markets, Inc. - Class A | 56,272 | ||||||
2,599,614 | ||||||||
Food Distributors - 0.1% | ||||||||
3,268 | Sysco Corp. | 249,381 |
The accompanying notes are an integral part of these financial statements.
30
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Food Retail - 0.1% | ||||||||
1,032 | Albertsons Cos., Inc. - Class A | $ | 22,425 | |||||
4,544 | Kroger Co. | 221,020 | ||||||
243,445 | ||||||||
Footwear - 0.3% | ||||||||
7,836 | NIKE, Inc. - Class B | 865,016 | ||||||
Gas Utilities - 0.0% (c) | ||||||||
967 | Atmos Energy Corp. | 117,694 | ||||||
Gold - 0.1% | ||||||||
4,988 | Newmont Corp. | 214,085 | ||||||
Health Care Distributors - 0.3% | ||||||||
1,065 | AmerisourceBergen Corp. | 199,048 | ||||||
1,588 | Cardinal Health, Inc. | 145,254 | ||||||
899 | McKesson Corp. | 361,758 | ||||||
706,060 | ||||||||
Health Care Equipment - 2.5% | ||||||||
11,124 | Abbott Laboratories | 1,238,435 | ||||||
3,268 | Baxter International, Inc. | 147,812 | ||||||
1,900 | Becton Dickinson and Co. | 529,378 | ||||||
9,116 | Boston Scientific Corp. (a) | 472,665 | ||||||
2,447 | Dexcom, Inc. (a) | 304,798 | ||||||
3,956 | Edwards Lifesciences Corp. (a) | 324,669 | ||||||
2,446 | GE HealthCare Technologies, Inc. | 190,788 | ||||||
1,548 | Hologic, Inc. (a) | 122,942 | ||||||
516 | IDEXX Laboratories, Inc. (a) | 286,241 | ||||||
414 | Insulet Corp. (a) | 114,575 | ||||||
2,257 | Intuitive Surgical, Inc. (a) | 732,171 | ||||||
8,477 | Medtronic PLC ADR (b) | 743,942 | ||||||
913 | ResMed, Inc. | 203,006 | ||||||
692 | STERIS PLC ADR (b) | 156,081 | ||||||
2,075 | Stryker Corp. | 588,076 | ||||||
261 | Teleflex, Inc. | 65,555 | ||||||
1,376 | Zimmer Biomet Holdings, Inc. | 190,094 | ||||||
6,411,228 | ||||||||
Health Care Facilities - 0.1% | ||||||||
1,376 | HCA Healthcare, Inc. | 375,387 | ||||||
Health Care Services - 0.6% | ||||||||
64 | Chemed Corp. | 33,350 | ||||||
1,924 | Cigna Group | 567,772 | ||||||
8,428 | CVS Health Corp. | 629,487 | ||||||
534 | Laboratory Corp. of America Holdings | 114,239 | ||||||
706 | Quest Diagnostics, Inc. | 95,458 | ||||||
1,440,306 |
The accompanying notes are an integral part of these financial statements.
31
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Health Care Supplies - 0.1% | ||||||||
436 | Align Technology, Inc. (a) | $ | 164,760 | |||||
369 | Cooper Cos., Inc. | 144,375 | ||||||
309,135 | ||||||||
Health Care Technology - 0.1% | ||||||||
909 | Veeva Systems, Inc. - Class A (a) | 185,636 | ||||||
Home Improvement Retail - 1.2% | ||||||||
6,591 | Home Depot, Inc. | 2,200,339 | ||||||
3,895 | Lowe’s Cos., Inc. | 912,482 | ||||||
3,112,821 | ||||||||
Homebuilding - 0.2% | ||||||||
1,932 | D.R. Horton, Inc. | 245,403 | ||||||
1,548 | Lennar Corp. - Class A | 196,333 | ||||||
39 | Lennar Corp. - Class B | 4,481 | ||||||
17 | NVR, Inc. (a) | 107,209 | ||||||
553,426 | ||||||||
Hotels, Resorts & Cruise Lines - 0.8% | ||||||||
2,519 | Airbnb, Inc. - Class A (a) | 383,367 | ||||||
237 | Booking Holdings, Inc. (a) | 704,080 | ||||||
6,064 | Carnival Corp. ADR (a)(b) | 114,246 | ||||||
898 | Expedia Group, Inc. (a) | 110,032 | ||||||
1,720 | Hilton Worldwide Holdings, Inc. | 267,443 | ||||||
1,753 | Marriott International, Inc. - Class A | 353,773 | ||||||
1,932,941 | ||||||||
Household Products - 1.3% | ||||||||
1,548 | Church & Dwight Co., Inc. | 148,097 | ||||||
801 | Clorox Co. | 121,335 | ||||||
5,332 | Colgate-Palmolive Co. | 406,618 | ||||||
2,253 | Kimberly-Clark Corp. | 290,862 | ||||||
15,324 | Procter & Gamble Co. | 2,395,141 | ||||||
3,362,053 | ||||||||
Human Resource & Employment Services - 0.4% | ||||||||
2,619 | Automatic Data Processing, Inc. | 647,574 | ||||||
2,064 | Paychex, Inc. | 258,970 | ||||||
280 | Paycom Software, Inc. | 103,253 | ||||||
1,009,797 | ||||||||
Independent Power Producers & Energy Traders - 0.0% (c) | ||||||||
4,128 | AES Corp. | 89,289 | ||||||
Industrial Conglomerates - 0.8% | ||||||||
3,492 | 3M Co. | 389,358 | ||||||
6,956 | General Electric Co. | 794,653 | ||||||
4,300 | Honeywell International, Inc. | 834,759 | ||||||
2,018,770 |
The accompanying notes are an integral part of these financial statements.
32
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Industrial Gases - 0.7% | ||||||||
1,396 | Air Products and Chemicals, Inc. | $ | 426,241 | |||||
3,145 | Linde PLC ADR (b) | 1,228,657 | ||||||
1,654,898 | ||||||||
Industrial Machinery & Supplies & Components - 0.8% | ||||||||
878 | Dover Corp. | 128,162 | ||||||
2,236 | Fortive Corp. | 175,191 | ||||||
442 | IDEX Corp. | 99,808 | ||||||
1,942 | Illinois Tool Works, Inc. | 511,367 | ||||||
2,580 | Ingersoll Rand, Inc. | 168,397 | ||||||
280 | Nordson Corp. | 70,451 | ||||||
2,752 | Otis Worldwide Corp. | 250,322 | ||||||
818 | Parker-Hannifin Corp. | 335,388 | ||||||
1,057 | Stanley Black & Decker, Inc. | 104,928 | ||||||
1,204 | Xylem, Inc. | 135,751 | ||||||
1,979,765 | ||||||||
Insurance Brokers - 0.6% | ||||||||
1,277 | Aon PLC - Class A ADR (b) | 406,725 | ||||||
1,376 | Arthur J. Gallagher & Co. | 295,565 | ||||||
1,548 | Brown & Brown, Inc. | 109,057 | ||||||
3,220 | Marsh & McLennan Cos., Inc. | 606,712 | ||||||
688 | Willis Towers Watson PLC ADR (b) | 145,395 | ||||||
1,563,454 | ||||||||
Integrated Oil & Gas - 2.0% | ||||||||
11,380 | Chevron Corp. | 1,862,451 | ||||||
26,394 | Exxon Mobil Corp. | 2,830,493 | ||||||
4,534 | Occidental Petroleum Corp. | 286,231 | ||||||
4,979,175 | ||||||||
Integrated Telecommunication Services - 0.6% | ||||||||
46,028 | AT&T, Inc. | 668,327 | ||||||
27,100 | Verizon Communications, Inc. | 923,568 | ||||||
1,591,895 | ||||||||
Interactive Home Entertainment - 0.4% | ||||||||
4,738 | Activision Blizzard, Inc. | 439,497 | ||||||
1,720 | Electronic Arts, Inc. | 234,522 | ||||||
2,503 | Roblox Corp. - Class A (a) | 98,243 | ||||||
1,032 | Take-Two Interactive Software, Inc. (a) | 157,834 | ||||||
930,096 | ||||||||
Interactive Media & Services - 5.7% | ||||||||
38,614 | Alphabet, Inc. - Class A (a) | 5,124,850 | ||||||
33,543 | Alphabet, Inc. - Class C (a) | 4,464,909 | ||||||
14,367 | Meta Platforms, Inc. - Class A (a) | 4,577,326 | ||||||
3,612 | Pinterest, Inc. - Class A (a) | 104,712 | ||||||
6,536 | Snap, Inc. - Class A (a) | 74,249 | ||||||
14,346,046 |
The accompanying notes are an integral part of these financial statements.
33
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Internet Services & Infrastructure - 0.4% | ||||||||
1,032 | Akamai Technologies, Inc. (a) | $ | 97,524 | |||||
1,741 | Cloudflare, Inc. - Class A (a) | 119,729 | ||||||
421 | MongoDB, Inc. (a) | 178,251 | ||||||
897 | Okta, Inc. (a) | 68,943 | ||||||
1,720 | Snowflake, Inc. - Class A (a) | 305,661 | ||||||
601 | VeriSign, Inc. (a) | 126,781 | ||||||
896,889 | ||||||||
Investment Banking & Brokerage - 1.0% | ||||||||
9,011 | Charles Schwab Corp. | 595,627 | ||||||
2,156 | Goldman Sachs Group, Inc. | 767,256 | ||||||
552 | Interactive Brokers Group, Inc. - Class A | 48,206 | ||||||
516 | LPL Financial Holdings, Inc. | 118,350 | ||||||
8,428 | Morgan Stanley | 771,668 | ||||||
1,204 | Raymond James Financial, Inc. | 132,524 | ||||||
2,433,631 | ||||||||
IT Consulting & Other Services - 1.1% | ||||||||
4,310 | Accenture PLC - Class A ADR (b) | 1,363,468 | ||||||
747 | Amdocs Ltd. ADR (b) | 69,949 | ||||||
3,268 | Cognizant Technology Solutions Corp. - Class A | 215,786 | ||||||
344 | EPAM Systems, Inc. (a) | 81,463 | ||||||
446 | Gartner, Inc. (a) | 157,701 | ||||||
5,856 | International Business Machines Corp. | 844,318 | ||||||
2,732,685 | ||||||||
Life & Health Insurance - 0.3% | ||||||||
3,616 | Aflac, Inc. | 261,581 | ||||||
4,182 | MetLife, Inc. | 263,341 | ||||||
1,548 | Principal Financial Group, Inc. | 123,639 | ||||||
2,408 | Prudential Financial, Inc. | 232,348 | ||||||
880,909 | ||||||||
Life Sciences Tools & Services - 1.5% | ||||||||
1,892 | Agilent Technologies, Inc. | 230,389 | ||||||
3,956 | Avantor, Inc. (a) | 81,375 | ||||||
92 | Bio-Rad Laboratories, Inc. - Class A (a) | 37,293 | ||||||
4,187 | Danaher Corp. | 1,067,936 | ||||||
534 | Fortrea Holdings, Inc. (a) | 17,067 | ||||||
1,032 | Illumina, Inc. (a) | 198,299 | ||||||
1,099 | IQVIA Holdings, Inc. (a) | 245,912 | ||||||
129 | Mettler-Toledo International, Inc. (a) | 162,214 | ||||||
728 | Revvity, Inc. | 89,508 | ||||||
2,498 | Thermo Fisher Scientific, Inc. | 1,370,553 | ||||||
358 | Waters Corp. (a) | 98,883 | ||||||
437 | West Pharmaceutical Services, Inc. | 160,833 | ||||||
3,760,262 | ||||||||
Managed Health Care - 1.8% | ||||||||
3,612 | Centene Corp. (a) | 245,941 | ||||||
1,554 | Elevance Health, Inc. | 732,913 |
The accompanying notes are an integral part of these financial statements.
34
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
768 | Humana, Inc. | $ | 350,845 | |||||
352 | Molina Healthcare, Inc. (a) | 107,180 | ||||||
6,021 | UnitedHealth Group, Inc. | 3,048,854 | ||||||
4,485,733 | ||||||||
Metal, Glass & Plastic Containers- 0.0% (c) | ||||||||
2,064 | Ball Corp. | 121,136 | ||||||
Movies & Entertainment - 1.1% | ||||||||
862 | Endeavor Group Holdings, Inc. - Class A (a) | 20,343 | ||||||
1,032 | Live Nation Entertainment, Inc. (a) | 90,558 | ||||||
2,810 | Netflix, Inc. (a) | 1,233,506 | ||||||
800 | Spotify Technology S.A. ADR (a)(b) | 119,528 | ||||||
11,772 | Walt Disney Co. (a) | 1,046,413 | ||||||
14,104 | Warner Bros Discovery, Inc. (a) | 184,339 | ||||||
710 | Warner Music Group Corp. - Class A | 22,401 | ||||||
2,717,088 | ||||||||
Multi-line Insurance - 0.2% | ||||||||
4,701 | American International Group, Inc. | 283,376 | ||||||
2,064 | Hartford Financial Services Group, Inc. | 148,360 | ||||||
431,736 | ||||||||
Multi-Sector Holdings - 1.2% | ||||||||
8,325 | Berkshire Hathaway, Inc. - Class B (a) | 2,930,067 | ||||||
Multi-Utilities - 0.7% | ||||||||
1,720 | Ameren Corp. | 147,352 | ||||||
3,956 | CenterPoint Energy, Inc. | 119,036 | ||||||
1,892 | CMS Energy Corp. | 115,544 | ||||||
2,236 | Consolidated Edison, Inc. | 212,107 | ||||||
5,338 | Dominion Energy, Inc. | 285,850 | ||||||
1,258 | DTE Energy Co. | 143,789 | ||||||
3,096 | Public Service Enterprise Group, Inc. | 195,420 | ||||||
1,955 | Sempra Energy | 291,334 | ||||||
2,064 | WEC Energy Group, Inc. | 185,471 | ||||||
1,695,903 | ||||||||
Oil & Gas Equipment & Services - 0.4% | ||||||||
6,918 | Baker Hughes Co. | 247,595 | ||||||
5,774 | Halliburton Co. | 225,648 | ||||||
9,140 | Schlumberger Ltd. ADR (b) | 533,228 | ||||||
1,006,471 | ||||||||
Oil & Gas Exploration & Production - 1.1% | ||||||||
7,947 | ConocoPhillips | 935,521 | ||||||
4,988 | Coterra Energy, Inc. | 137,370 | ||||||
4,128 | Devon Energy Corp. | 222,912 | ||||||
1,066 | Diamondback Energy, Inc. | 157,043 | ||||||
3,685 | EOG Resources, Inc. | 488,373 | ||||||
2,098 | EQT Corp. | 88,494 | ||||||
1,752 | Hess Corp. | 265,831 |
The accompanying notes are an integral part of these financial statements.
35
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
4,010 | Marathon Oil Corp. | $ | 105,343 | |||||
1,552 | Pioneer Natural Resources Co. | 350,240 | ||||||
52 | Texas Pacific Land Corp. | 78,328 | ||||||
2,829,455 | ||||||||
Oil & Gas Refining & Marketing - 0.4% | ||||||||
2,960 | Marathon Petroleum Corp. | 393,739 | ||||||
3,096 | Phillips 66 | 345,359 | ||||||
2,436 | Valero Energy Corp. | 314,025 | ||||||
1,053,123 | ||||||||
Oil & Gas Storage & Transportation - 0.4% | ||||||||
1,554 | Cheniere Energy, Inc. | 251,530 | ||||||
12,728 | Kinder Morgan, Inc. | 225,413 | ||||||
2,752 | ONEOK, Inc. | 184,494 | ||||||
1,401 | Targa Resources Corp. | 114,868 | ||||||
7,740 | Williams Cos., Inc. | 266,643 | ||||||
1,042,948 | ||||||||
Other Specialty Retail - 0.1% | ||||||||
538 | Chewy, Inc. - Class A (a) | 18,238 | ||||||
370 | Dick’s Sporting Goods, Inc. | 52,170 | ||||||
688 | Tractor Supply Co. | 154,105 | ||||||
312 | Ulta Beauty, Inc. (a) | 138,778 | ||||||
363,291 | ||||||||
Packaged Foods & Meats - 0.8% | ||||||||
1,227 | Campbell Soup Co. | 56,221 | ||||||
3,096 | Conagra Brands, Inc. | 101,580 | ||||||
3,784 | General Mills, Inc. | 282,816 | ||||||
901 | Hershey Co. | 208,410 | ||||||
1,892 | Hormel Foods Corp. | 77,345 | ||||||
613 | J.M. Smucker Co. | 92,348 | ||||||
1,720 | Kellogg Co. | 115,051 | ||||||
4,988 | Kraft Heinz Co. | 180,466 | ||||||
1,548 | McCormick & Co., Inc. | 138,515 | ||||||
8,772 | Mondelez International, Inc. - Class A | 650,268 | ||||||
1,892 | Tyson Foods, Inc. - Class A | 105,422 | ||||||
2,008,442 | ||||||||
Paper & Plastic Packaging Products & Materials - 0.1% | ||||||||
9,632 | Amcor PLC ADR (b) | 98,824 | ||||||
457 | Avery Dennison Corp. | 84,093 | ||||||
2,408 | International Paper Co. | 86,832 | ||||||
269,749 | ||||||||
Passenger Airlines - 0.2% | ||||||||
4,128 | Delta Air Lines, Inc. | 190,961 | ||||||
3,784 | Southwest Airlines Co. | 129,261 | ||||||
2,064 | United Airlines Holdings, Inc. (a) | 112,096 | ||||||
432,318 |
The accompanying notes are an integral part of these financial statements.
36
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Passenger Ground Transportation - 0.3% | ||||||||
89 | Avis Budget Group, Inc. (a) | $ | 19,606 | |||||
12,463 | Uber Technologies, Inc. (a) | 616,420 | ||||||
636,026 | ||||||||
Personal Care Products - 0.1% | ||||||||
1,376 | Estee Lauder Cos., Inc. - Class A | 247,680 | ||||||
Pharmaceuticals - 3.9% | ||||||||
13,588 | Bristol-Myers Squibb Co. | 845,038 | ||||||
5,516 | Eli Lilly & Co. | 2,507,298 | ||||||
16,950 | Johnson & Johnson | 2,839,634 | ||||||
16,380 | Merck & Co., Inc. | 1,746,927 | ||||||
36,301 | Pfizer, Inc. | 1,309,014 | ||||||
2,278 | Royalty Pharma PLC - Class A ADR (b) | 71,484 | ||||||
7,740 | Viatris, Inc. | 81,502 | ||||||
2,960 | Zoetis, Inc. | 556,746 | ||||||
9,957,643 | ||||||||
Property & Casualty Insurance - 0.8% | ||||||||
1,720 | Allstate Corp. | 193,810 | ||||||
2,434 | Arch Capital Group Ltd. ADR (a)(b) | 189,097 | ||||||
2,635 | Chubb Ltd. ADR (b) | 538,620 | ||||||
1,032 | Cincinnati Financial Corp. | 111,023 | ||||||
1,232 | Loews Corp. | 77,185 | ||||||
80 | Markel Corp. (a) | 115,977 | ||||||
3,784 | Progressive Corp. | 476,708 | ||||||
1,554 | Travelers Cos., Inc. | 268,236 | ||||||
1,229 | W.R. Berkley Corp. | 75,817 | ||||||
2,046,473 | ||||||||
Rail Transportation - 0.7% | ||||||||
13,432 | CSX Corp. | 447,554 | ||||||
1,417 | Norfolk Southern Corp. | 330,997 | ||||||
3,956 | Union Pacific Corp. | 917,871 | ||||||
1,696,422 | ||||||||
Real Estate Services - 0.1% | ||||||||
1,919 | CBRE Group, Inc. - Class A (a) | 159,872 | ||||||
2,580 | CoStar Group, Inc. (a) | 216,643 | ||||||
376,515 | ||||||||
Regional Banks - 0.3% | ||||||||
3,096 | Citizens Financial Group, Inc. | 99,877 | ||||||
8,944 | Huntington Bancshares, Inc. | 109,475 | ||||||
1,058 | M&T Bank Corp. | 147,972 | ||||||
5,848 | Regions Financial Corp. | 119,124 | ||||||
8,428 | Truist Financial Corp. | 279,978 | ||||||
756,426 | ||||||||
Reinsurance - 0.0% (c) | ||||||||
224 | Everest Group Ltd. ADR (b) | 80,754 |
The accompanying notes are an integral part of these financial statements.
37
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Research & Consulting Services - 0.2% | ||||||||
757 | Equifax, Inc. | $ | 154,489 | |||||
728 | Jacobs Solutions, Inc. | 91,298 | ||||||
1,204 | TransUnion | 95,947 | ||||||
1,032 | Verisk Analytics, Inc. | 236,266 | ||||||
578,000 | ||||||||
Restaurants - 1.2% | ||||||||
176 | Chipotle Mexican Grill, Inc. (a) | 345,361 | ||||||
720 | Darden Restaurants, Inc. | 121,622 | ||||||
1,575 | DoorDash, Inc. - Class A (a) | 142,994 | ||||||
4,748 | McDonald’s Corp. | 1,392,114 | ||||||
7,224 | Starbucks Corp. | 733,742 | ||||||
2,580 | Yum China Holdings, Inc. | 157,432 | ||||||
1,764 | Yum! Brands, Inc. | 242,850 | ||||||
3,136,115 | ||||||||
Semiconductor Materials & Equipment - 0.9% | ||||||||
5,360 | Applied Materials, Inc. | 812,522 | ||||||
860 | Enphase Energy, Inc. (a) | 130,574 | ||||||
877 | KLA Corp. | 450,734 | ||||||
860 | Lam Research Corp. | 617,901 | ||||||
344 | SolarEdge Technologies, Inc. (a) | 83,062 | ||||||
1,032 | Teradyne, Inc. | 116,554 | ||||||
2,211,347 | ||||||||
Semiconductors - 6.5% | ||||||||
10,320 | Advanced Micro Devices, Inc. (a) | 1,180,608 | ||||||
3,268 | Analog Devices, Inc. | 652,064 | ||||||
2,645 | Broadcom, Inc. | 2,376,929 | ||||||
692 | First Solar, Inc. (a) | 143,521 | ||||||
386 | GlobalFoundries, Inc. ADR (a)(b) | 24,584 | ||||||
27,122 | Intel Corp. | 970,154 | ||||||
5,332 | Marvell Technology, Inc. | 347,273 | ||||||
3,440 | Microchip Technology, Inc. | 323,154 | ||||||
7,052 | Micron Technology, Inc. | 503,442 | ||||||
251 | Monolithic Power Systems, Inc. | 140,432 | ||||||
15,384 | NVIDIA Corp. | 7,188,789 | ||||||
2,752 | ON Semiconductor Corp. (a) | 296,528 | ||||||
7,259 | Qualcomm, Inc. | 959,422 | ||||||
1,032 | Skyworks Solutions, Inc. | 118,030 | ||||||
5,848 | Texas Instruments, Inc. | 1,052,640 | ||||||
16,277,570 | ||||||||
Soft Drinks & Non-alcoholic Beverages - 1.4% | ||||||||
25,354 | Coca-Cola Co. | 1,570,173 | ||||||
5,852 | Keurig Dr. Pepper, Inc. | 199,027 | ||||||
3,281 | Monster Beverage Corp. (a) | 188,625 | ||||||
8,855 | PepsiCo, Inc. | 1,659,958 | ||||||
3,617,783 |
The accompanying notes are an integral part of these financial statements.
38
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Specialty Chemicals - 0.6% | ||||||||
706 | Albemarle Corp. | $ | 149,870 | |||||
695 | Celanese Corp. | 87,146 | ||||||
2,669 | DuPont de Nemours, Inc. | 207,194 | ||||||
1,582 | Ecolab, Inc. | 289,727 | ||||||
1,577 | International Flavors & Fragrances, Inc. | 133,430 | ||||||
1,548 | PPG Industries, Inc. | 222,757 | ||||||
1,548 | Sherwin-Williams Co. | 428,022 | ||||||
1,518,146 | ||||||||
Steel - 0.2% | ||||||||
1,592 | Nucor Corp. | 273,967 | ||||||
1,046 | Steel Dynamics, Inc. | 111,483 | ||||||
385,450 | ||||||||
Systems Software - 7.7% | ||||||||
1,376 | Crowdstrike Holdings, Inc. - Class A (a) | 222,444 | ||||||
4,300 | Fortinet, Inc. (a) | 334,196 | ||||||
47,597 | Microsoft Corp. | 15,988,784 | ||||||
10,074 | Oracle Corp. | 1,180,975 | ||||||
1,897 | Palo Alto Networks, Inc. (a) | 474,174 | ||||||
1,312 | ServiceNow, Inc. (a) | 764,896 | ||||||
1,401 | VMware, Inc. - Class A (a) | 220,840 | ||||||
606 | Zscaler, Inc. (a) | 97,190 | ||||||
19,283,499 | ||||||||
Technology Distributors - 0.1% | ||||||||
860 | CDW Corp. | 160,880 | ||||||
Technology Hardware, Storage & Peripherals - 7.8% | ||||||||
96,686 | Apple, Inc. | 18,993,965 | ||||||
1,548 | Dell Technologies, Inc. - Class C | 81,920 | ||||||
8,256 | Hewlett Packard Enterprise Co. | 143,489 | ||||||
6,536 | HP, Inc. | 214,577 | ||||||
1,376 | NetApp, Inc. | 107,342 | ||||||
1,204 | Seagate Technology Holdings PLC ADR (b) | 76,454 | ||||||
1,930 | Western Digital Corp. (a) | 82,141 | ||||||
19,699,888 | ||||||||
Tobacco - 0.6% | ||||||||
11,352 | Altria Group, Inc. | 515,608 | ||||||
9,997 | Philip Morris International, Inc. | 996,901 | ||||||
1,512,509 | ||||||||
Trading Companies & Distributors - 0.3% | ||||||||
3,612 | Fastenal Co. | 211,699 | ||||||
1,283 | Ferguson PLC ADR (b) | 207,358 | ||||||
434 | United Rentals, Inc. | 201,671 | ||||||
260 | W.W. Grainger, Inc. | 192,007 | ||||||
812,735 |
The accompanying notes are an integral part of these financial statements.
39
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Transaction & Payment Processing Services - 2.6% | ||||||||
3,348 | Block, Inc. (a) | $ | 269,614 | |||||
3,784 | Fidelity National Information Services, Inc. | 228,478 | ||||||
3,997 | Fiserv, Inc. (a) | 504,461 | ||||||
446 | FleetCor Technologies, Inc. (a) | 111,014 | ||||||
1,720 | Global Payments, Inc. | 189,630 | ||||||
5,462 | Mastercard, Inc. - Class A | 2,153,557 | ||||||
7,259 | PayPal Holdings, Inc. (a) | 550,377 | ||||||
10,509 | Visa, Inc. - Class A | 2,498,305 | ||||||
6,505,436 | ||||||||
Water Utilities - 0.1% | ||||||||
1,296 | American Water Works Co., Inc. | 191,069 | ||||||
Wireless Telecommunication Services - 0.2% | ||||||||
3,624 | T-Mobile US, Inc. (a) | 499,278 | ||||||
TOTAL COMMON STOCKS (Cost $215,426,511) | 245,476,516 | |||||||
REAL ESTATE INVESTMENT TRUSTS - 2.3% | ||||||||
Data Center REITs - 0.3% | ||||||||
1,959 | Digital Realty Trust, Inc. | 244,131 | ||||||
572 | Equinix, Inc. | 463,274 | ||||||
707,405 | ||||||||
Diversified REITs - 0.0% (c) | ||||||||
1,261 | W.P. Carey, Inc. | 85,155 | ||||||
Health Care REITs - 0.2% | ||||||||
3,440 | Healthpeak Properties, Inc. | 75,095 | ||||||
2,580 | Ventas, Inc. | 125,182 | ||||||
3,145 | Welltower, Inc. | 258,362 | ||||||
458,639 | ||||||||
Industrial REITs - 0.3% | ||||||||
5,916 | Prologis, Inc. | 738,021 | ||||||
Multi-Family Residential REITs - 0.3% | ||||||||
860 | AvalonBay Communities, Inc. | 162,239 | ||||||
688 | Camden Property Trust | 75,054 | ||||||
2,408 | Equity Residential | 158,784 | ||||||
375 | Essex Property Trust, Inc. | 91,331 | ||||||
799 | Mid-America Apartment Communities, Inc. | 119,578 | ||||||
2,064 | UDR, Inc. | 84,376 | ||||||
691,362 | ||||||||
Office REITs - 0.1% | ||||||||
1,139 | Alexandria Real Estate Equities, Inc. | 143,150 | ||||||
Other Specialized REITs - 0.1% | ||||||||
7,095 | VICI Properties, Inc. | 223,351 |
The accompanying notes are an integral part of these financial statements.
40
Strive 500 ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Retail REITs - 0.2% | ||||||||
4,221 | Realty Income Corp. | $ | 257,354 | |||||
2,064 | Simon Property Group, Inc. | 257,174 | ||||||
514,528 | ||||||||
Self-Storage REITs - 0.2% | ||||||||
860 | Extra Space Storage, Inc. | 120,030 | ||||||
968 | Public Storage | 272,734 | ||||||
392,764 | ||||||||
Single-Family Residential REITs - 0.1% | ||||||||
3,956 | Invitation Homes, Inc. | 140,438 | ||||||
714 | Sun Communities, Inc. | 93,034 | ||||||
233,472 | ||||||||
Telecom Tower REITs - 0.4% | ||||||||
3,016 | American Tower Corp. | 573,975 | ||||||
2,752 | Crown Castle, Inc. | 298,014 | ||||||
688 | SBA Communications Corp. | 150,638 | ||||||
1,022,627 | ||||||||
Timber REITs - 0.1% | ||||||||
4,816 | Weyerhaeuser Co. | 164,033 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $5,333,428) | 5,374,507 | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.0% (c) | ||||||||
7,301 | First American Government Obligations Fund - Class X, 5.14% (e) | 7,301 | ||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $7,301) | 7,301 | |||||||
MONEY MARKET FUNDS - 0.3% | ||||||||
821,711 | First American Government Obligations Fund - Class X, 5.14% (e) | 821,711 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $821,711) | 821,711 | |||||||
TOTAL INVESTMENTS (Cost $221,588,951) - 99.9% | $ | 251,680,035 | ||||||
Other Assets in Excess of Liabilities - 0.1% | 188,478 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 251,868,513 |
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 July 31, 2023. Total loaned securities had a market value of $7,094 as of July 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.
41
Strive U.S. Semiconductor ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 99.8% | ||||||||
Electronic Manufacturing Services - 4.2% | ||||||||
10,614 | TE Connectivity Ltd. ADR (a) | $ | 1,523,003 | |||||
Semiconductor Materials & Equipment - 19.4% | ||||||||
11,457 | Applied Materials, Inc. | 1,736,767 | ||||||
1,105 | Axcelis Technologies, Inc. (b) | 221,530 | ||||||
4,529 | Enphase Energy, Inc. (b) | 687,638 | ||||||
5,100 | Entegris, Inc. | 559,521 | ||||||
3,526 | KLA Corp. | 1,812,188 | ||||||
2,625 | Lam Research Corp. | 1,886,036 | ||||||
1,967 | MKS Instruments, Inc. | 214,737 | ||||||
7,118,417 | ||||||||
Semiconductors - 76.2% | ||||||||
23,649 | Advanced Micro Devices, Inc. (b) | 2,705,446 | ||||||
7,039 | Analog Devices, Inc. | 1,404,492 | ||||||
3,564 | Broadcom, Inc. | 3,202,789 | ||||||
1,874 | Cirrus Logic, Inc. (b) | 151,419 | ||||||
3,420 | First Solar, Inc. (b) | 709,308 | ||||||
2,578 | GlobalFoundries, Inc. ADR (a)(b) | 164,193 | ||||||
41,252 | Intel Corp. | 1,475,584 | ||||||
4,649 | Lattice Semiconductor Corp. (b) | 422,780 | ||||||
29,317 | Marvell Technology, Inc. | 1,909,416 | ||||||
16,558 | Microchip Technology, Inc. | 1,555,458 | ||||||
20,980 | Micron Technology, Inc. | 1,497,762 | ||||||
1,529 | Monolithic Power Systems, Inc. | 855,460 | ||||||
8,172 | NVIDIA Corp. | 3,818,694 | ||||||
14,770 | ON Semiconductor Corp. (b) | 1,591,467 | ||||||
1,909 | Power Integrations, Inc. | 185,440 | ||||||
3,414 | Qorvo, Inc. (b) | 375,608 | ||||||
18,004 | Qualcomm, Inc. | 2,379,589 | ||||||
3,660 | Rambus, Inc. (b) | 229,153 | ||||||
1,055 | Silicon Laboratories, Inc. (b) | 157,343 | ||||||
5,438 | Skyworks Solutions, Inc. | 621,944 | ||||||
12,356 | Texas Instruments, Inc. | 2,224,080 | ||||||
4,234 | Wolfspeed, Inc. (b) | 279,021 | ||||||
27,916,446 | ||||||||
TOTAL COMMON STOCKS (Cost $27,868,841) | 36,557,866 | |||||||
MONEY MARKET FUNDS - 0.2% | ||||||||
61,338 | First American Government Obligations Fund - Class X, 5.14% (c) | 61,338 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $61,338) | 61,338 | |||||||
TOTAL INVESTMENTS (Cost $27,930,179) - 100.0% | $ | 36,619,204 | ||||||
Other Assets in Excess of Liabilities - 0.0% (d) | 7,202 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 36,626,406 |
The accompanying notes are an integral part of these financial statements.
42
Strive U.S. Semiconductor ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
(a) | Foreign issued security. | |
(b) | Non-income producing 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.
43
Strive Emerging Markets Ex-China ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 96.3% | ||||||||
Bermuda - 0.1% | ||||||||
1,242 | Credicorp Ltd. ADR | $ | 195,056 | |||||
Brazil - 5.8% | ||||||||
135,185 | Ambev S.A. | 423,386 | ||||||
11,581 | Atacadao S.A. | 33,086 | ||||||
172,456 | B3 S.A. - Brasil Bolsa Balcao | 544,127 | ||||||
36,969 | Banco Bradesco S.A. | 116,096 | ||||||
58,148 | Banco BTG Pactual S.A. | 417,350 | ||||||
43,870 | Banco do Brasil S.A. | 447,444 | ||||||
115,266 | Banco Santander Brasil S.A. | 700,067 | ||||||
16,457 | BB Seguridade Participacoes S.A. | 108,373 | ||||||
11,323 | Caixa Seguridade Participacoes S.A. | 25,813 | ||||||
27,319 | CCR S.A. | 76,664 | ||||||
14,875 | Centrais Eletricas Brasileiras S.A. | 121,485 | ||||||
8,320 | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 101,643 | ||||||
6,099 | Cia Energetica de Minas Gerais | 23,848 | ||||||
4,126 | Cia Paranaense de Energia | 7,146 | ||||||
12,988 | Cia Siderurgica Nacional S.A. | 37,931 | ||||||
29,176 | Cosan S.A. | 122,658 | ||||||
4,107 | CPFL Energia S.A. | 31,223 | ||||||
9,948 | Energisa S.A | 105,544 | ||||||
3,802 | Engie Brasil Energia S.A. | 35,433 | ||||||
27,173 | Equatorial Energia S.A. | 193,479 | ||||||
120,719 | Hapvida Participacoes e Investimentos S.A. (a)(b) | 123,304 | ||||||
9,821 | Hypera S.A. | 89,658 | ||||||
9,851 | Itau Unibanco Holding S.A. | 51,601 | ||||||
18,279 | Itausa S.A. | 38,423 | ||||||
17,140 | JBS S.A. | 68,034 | ||||||
27,432 | Klabin S.A. | 133,310 | ||||||
25,393 | Localiza Rent a Car S.A. | 360,697 | ||||||
23,116 | Lojas Renner S.A. | 91,511 | ||||||
62,714 | Magazine Luiza S.A. (a) | 44,429 | ||||||
26,193 | Natura & Co. Holding S.A. (a) | 100,812 | ||||||
4,305 | Neoenergia S.A. | 17,716 | ||||||
116,752 | Petroleo Brasileiro S.A. | 859,453 | ||||||
19,699 | PRIO Brasil S.A.(a) | 190,293 | ||||||
29,144 | Raia Drogasil S.A. | 179,347 | ||||||
29,928 | Rede D’Or Sao Luiz S.A. (b) | 227,652 | ||||||
29,737 | Rumo S.A. | 146,209 | ||||||
27,920 | Sendas Distribuidora S.A. | 80,181 | ||||||
23,920 | Suzano S.A. | 243,209 | ||||||
9,911 | Telefonica Brasil S.A. | 88,636 | ||||||
17,692 | TIM Brasil S.A. | 53,464 | ||||||
108,000 | Vale S.A. | 1,583,886 | ||||||
27,435 | Vibra Energia S.A. | 99,152 | ||||||
46,386 | WEG S.A. | 391,688 | ||||||
8,935,461 |
The accompanying notes are an integral part of these financial statements.
44
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Cayman Islands - 0.2% | ||||||||
43,967 | Chailease Holding Co., Ltd. | $ | 291,001 | |||||
15,348 | Zhen Ding Technology Holding Ltd. | 51,280 | ||||||
342,281 | ||||||||
Chile - 0.5% | ||||||||
3,032 | AntarChile S.A. | 27,105 | ||||||
1,599,427 | Banco de Chile | 178,065 | ||||||
2,121 | Banco de Credito e Inversiones S.A. | 63,710 | ||||||
1,707,853 | Banco Santander Chile | 91,180 | ||||||
35,511 | Cencosud S.A. | 76,318 | ||||||
411,034 | Cia Sud Americana de Vapores S.A. | 31,111 | ||||||
29,298 | Empresas CMPC S.A. | 57,832 | ||||||
15,057 | Empresas Copec S.A. | 115,492 | ||||||
544,169 | Enel Americas S.A. (a) | 73,555 | ||||||
22,617 | Falabella S.A. | 62,545 | ||||||
11,147 | Quinenco S.A. | 38,798 | ||||||
815,711 | ||||||||
Colombia - 0.1% | ||||||||
1,555 | Banco de Bogota S.A. | 12,120 | ||||||
4,741 | Bancolombia S.A. | 40,627 | ||||||
99,675 | Ecopetrol S.A. | 58,392 | ||||||
4,412 | Grupo de Inversiones Suramericana S.A. | 42,387 | ||||||
55,944 | Grupo Energia Bogota S.A. ESP | 25,183 | ||||||
8,888 | Interconexion Electrica S.A. ESP | 38,943 | ||||||
217,652 | ||||||||
Czech Republic - 0.2% | ||||||||
3,922 | CEZ AS | 173,562 | ||||||
1,817 | Komercni Banka AS | 59,585 | ||||||
11,101 | Moneta Money Bank AS (b) | 43,684 | ||||||
276,831 | ||||||||
Greece - 0.2% | ||||||||
60,500 | Eurobank Ergasias Services and Holdings S.A. - Class A (a) | 105,601 | ||||||
4,048 | Hellenic Telecommunications Organization S.A. | 63,869 | ||||||
13,360 | National Bank of Greece S.A. (a) | 91,956 | ||||||
4,466 | OPAP S.A. | 78,615 | ||||||
340,041 | ||||||||
Hungary - 0.3% | ||||||||
11,788 | MOL Hungarian Oil & Gas PLC | 93,092 | ||||||
5,391 | OTP Bank Nyrt | 196,176 | ||||||
3,397 | Richter Gedeon Nyrt | 85,691 | ||||||
374,959 | ||||||||
India - 22.1% | ||||||||
1,300 | ABB India Ltd. | 71,960 | ||||||
1,768 | ACC Ltd. | 43,376 | ||||||
9,728 | Adani Enterprises Ltd. | 294,766 | ||||||
15,381 | Adani Green Energy Ltd. (a) | 204,454 | ||||||
18,185 | Adani Ports & Special Economic Zone Ltd. | 171,981 |
The accompanying notes are an integral part of these financial statements.
45
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
39,641 | Adani Power Ltd. (a) | $ | 131,721 | |||||
4,652 | Adani Total Gas Ltd. | 37,539 | ||||||
6,030 | Adani Transmission Ltd. (a) | 60,169 | ||||||
3,372 | Adani Wilmar Ltd. (a) | 16,887 | ||||||
660 | Alkem Laboratories Ltd. | 31,927 | ||||||
14,332 | Ambuja Cements Ltd. | 80,679 | ||||||
3,060 | Apollo Hospitals Enterprise Ltd. | 192,474 | ||||||
46,108 | Ashok Leyland Ltd. | 103,149 | ||||||
14,046 | Asian Paints Ltd. | 576,766 | ||||||
2,759 | Astral Ltd. | 66,061 | ||||||
8,707 | AU Small Finance Bank Ltd. (b) | 77,263 | ||||||
5,672 | Avenue Supermarts Ltd. (a)(b) | 258,799 | ||||||
80,565 | Axis Bank Ltd. | 934,372 | ||||||
2,555 | Bajaj Auto Ltd. | 153,191 | ||||||
7,708 | Bajaj Finance Ltd. | 684,153 | ||||||
12,757 | Bajaj Finserv Ltd. | 247,901 | ||||||
942 | Bajaj Holdings & Investment Ltd. | 86,396 | ||||||
1,666 | Balkrishna Industries Ltd. | 51,497 | ||||||
20,291 | Bandhan Bank Ltd. (b) | 55,113 | ||||||
40,562 | Bank of Baroda | 99,717 | ||||||
6,910 | Berger Paints India Ltd. | 57,331 | ||||||
87,623 | Bharat Electronics Ltd. | 139,240 | ||||||
6,263 | Bharat Forge Ltd. | 70,927 | ||||||
19,383 | Bharat Petroleum Corp. Ltd. | 88,963 | ||||||
65,156 | Bharti Airtel Ltd. | 704,963 | ||||||
7,769 | Biocon Ltd. | 24,285 | ||||||
145 | Bosch Ltd. | 33,444 | ||||||
2,451 | Britannia Industries Ltd. | 142,859 | ||||||
10,440 | Canara Bank | 43,709 | ||||||
14,161 | CG Power & Industrial Solutions Ltd. | 69,222 | ||||||
10,585 | Cholamandalam Investment and Finance Co., Ltd. | 145,696 | ||||||
10,822 | Cipla Ltddia | 154,602 | ||||||
34,567 | Coal India Ltd. | 96,348 | ||||||
2,919 | Colgate-Palmolive India Ltd. | 71,668 | ||||||
5,556 | Container Corp. Of India Ltd. | 46,928 | ||||||
15,406 | Dabur India Ltd. | 107,816 | ||||||
1,977 | Dalmia Bharat Ltd. | 46,963 | ||||||
2,661 | Divi’s Laboratories Ltd. | 119,198 | ||||||
15,195 | DLF Ltd. | 95,836 | ||||||
2,493 | Dr Reddy’s Laboratories Ltd. | 170,965 | ||||||
3,118 | Eicher Motors Ltd. (a) | 127,584 | ||||||
24,323 | FSN E-Commerce Ventures Ltd. (a) | 42,555 | ||||||
49,624 | GAIL India Ltd. | 71,858 | ||||||
8,936 | Godrej Consumer Products Ltd. (a) | 112,552 | ||||||
2,344 | Godrej Properties Ltd. (a) | 49,602 | ||||||
7,707 | Grasim Industries Ltd. | 173,300 | ||||||
3,750 | Gujarat Gas Ltd. | 22,008 | ||||||
5,194 | Havells India Ltd. | 84,245 |
The accompanying notes are an integral part of these financial statements.
46
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
29,544 | HCL Technologies Ltd. | $ | 401,122 | |||||
1,277 | HDFC Asset Management Co., Ltd. (b) | 39,343 | ||||||
212,743 | HDFC Bank Ltd. | 4,270,961 | ||||||
22,818 | HDFC Life Insurance Co., Ltd. (b) | 179,453 | ||||||
2,319 | Hero MotoCorp Ltd. | 90,328 | ||||||
28,671 | Hindalco Industries Ltd. | 161,257 | ||||||
2,039 | Hindustan Aeronautics Ltd. | 98,208 | ||||||
12,276 | Hindustan Petroleum Corp. Ltd. | 42,149 | ||||||
24,358 | Hindustan Unilever Ltd. | 758,382 | ||||||
45 | Honeywell Automation India Ltd. | 23,522 | ||||||
198,631 | ICICI Bank Ltd. | 2,410,898 | ||||||
5,403 | ICICI Lombard General Insurance Co., Ltd. (b) | 91,015 | ||||||
9,393 | ICICI Prudential Life Insurance Co., Ltd. (b) | 66,180 | ||||||
63,193 | Indian Oil Corp. Ltd. | 72,030 | ||||||
5,924 | Indian Railway Catering & Tourism Corp. Ltd. | 46,143 | ||||||
38,332 | Indian Railway Finance Corp. Ltd. (b) | 17,803 | ||||||
19,865 | Indus Towers Ltd. (a) | 41,542 | ||||||
14,466 | IndusInd Bank Ltd. | 249,355 | ||||||
1,820 | Info Edge India Ltd. | 101,503 | ||||||
96,100 | Infosys Ltd. | 1,584,009 | ||||||
3,016 | InterGlobe Aviation Ltd. (a)(b) | 95,080 | ||||||
204,287 | ITC Ltd. | 1,156,692 | ||||||
9,751 | Jindal Steel & Power Ltd. | 79,284 | ||||||
91,036 | Jio Financial Services Ltd. (a)(c) | 275,658 | ||||||
12,500 | JSW Energy Ltd. | 43,876 | ||||||
20,368 | JSW Steel Ltd. | 202,259 | ||||||
8,036 | Jubilant Foodworks Ltd. | 46,751 | ||||||
38,219 | Kotak Mahindra Bank Ltd. | 862,694 | ||||||
506 | L&T Technology Services Ltd. (b) | 24,831 | ||||||
29,449 | Larsen & Toubro Ltd. | 960,052 | ||||||
4,799 | Life Insurance Corp. of India | 37,339 | ||||||
2,242 | LTIMindtree Ltd. (b) | 133,340 | ||||||
4,784 | Lupin Ltd. | 57,319 | ||||||
4,372 | Macrotech Developers Ltd. (b) | 40,364 | ||||||
26,792 | Mahindra & Mahindra Ltd. | 480,537 | ||||||
11,270 | Marico Ltd. | 76,808 | ||||||
3,801 | Maruti Suzuki India Ltd. | 453,851 | ||||||
7,045 | Max Financial Services Ltd. (a) | 69,787 | ||||||
1,650 | Mphasis Ltd. | 46,039 | ||||||
72 | MRF Ltd. | 90,127 | ||||||
2,291 | Muthoot Finance Ltd. | 37,615 | ||||||
825 | Nestle India Ltd. | 226,222 | ||||||
59,206 | NHPC Ltd. | 37,072 | ||||||
15,792 | NMDC Ltd. | 22,512 | ||||||
102,223 | NTPC Ltd. | 271,377 | ||||||
64,532 | Oil & Natural Gas Corp. Ltd. | 138,913 | ||||||
3,501 | One 97 Communications Ltd. (a) | 34,070 | ||||||
113 | Page Industries Ltd. | 51,940 |
The accompanying notes are an integral part of these financial statements.
47
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
1,611 | Patanjali Foods Ltd. | $ | 26,070 | |||||
14,969 | Petronet LNG Ltd. | 42,505 | ||||||
1,812 | PI Industries Ltd. | 79,657 | ||||||
2,947 | Pidilite Industries Ltd. | 93,695 | ||||||
25,723 | Power Finance Corp. Ltd. | 81,752 | ||||||
73,684 | Power Grid Corp. of India Ltd. | 238,346 | ||||||
180 | Procter & Gamble Hygiene & Health Care Ltd. | 34,498 | ||||||
43,863 | Punjab National Bank | 32,984 | ||||||
26,262 | REC Ltd. | 64,802 | ||||||
91,036 | Reliance Industries Ltd. | 2,821,605 | ||||||
50,325 | Samvardhana Motherson International Ltd. | 60,146 | ||||||
6,270 | SBI Cards & Payment Services Ltd. | 65,205 | ||||||
9,633 | SBI Life Insurance Co., Ltd. (b) | 150,166 | ||||||
653 | Shree Cement Ltd. | 191,405 | ||||||
3,235 | Shriram Finance Ltd. | 74,461 | ||||||
1,954 | Siemens Ltd. | 94,625 | ||||||
3,339 | SRF Ltd. | 88,116 | ||||||
93,499 | State Bank of India | 705,033 | ||||||
25,999 | Steel Authority of India Ltd. | 29,903 | ||||||
30,102 | Sun Pharmaceutical Industries Ltd. | 418,470 | ||||||
2,109 | Tata Communications Ltd. | 46,056 | ||||||
26,670 | Tata Consultancy Services Ltd. | 1,109,440 | ||||||
12,882 | Tata Consumer Products Ltd. | 134,586 | ||||||
857 | Tata Elxsi Ltd. | 74,598 | ||||||
36,502 | Tata Motors Ltd. | 285,940 | ||||||
9,292 | Tata Motors Ltd. | 46,805 | ||||||
34,980 | Tata Power Co., Ltd. | 100,667 | ||||||
173,635 | Tata Steel Ltd. | 259,981 | ||||||
13,077 | Tech Mahindra Ltd. | 177,357 | ||||||
11,233 | Titan Co., Ltd. | 410,274 | ||||||
2,093 | Torrent Pharmaceuticals Ltd. | 50,967 | ||||||
4,512 | Trent Ltd. | 96,391 | ||||||
2,058 | Tube Investments of India Ltd. | 77,047 | ||||||
5,222 | TVS Motor Co., Ltd. | 87,407 | ||||||
2,699 | UltraTech Cement Ltd. | 272,961 | ||||||
16,143 | Union Bank of India Ltd. (a) | 17,468 | ||||||
1,482 | United Breweries Ltd. | 27,753 | ||||||
6,767 | United Spirits Ltd. (a) | 83,579 | ||||||
11,142 | UPL Ltd. | 84,626 | ||||||
9,929 | Varun Beverages Ltd. | 97,106 | ||||||
20,846 | Vedanta Ltd. | 69,952 | ||||||
30,387 | Wipro Ltd. | 149,647 | ||||||
413,310 | Yes Bank Ltd. (a) | 85,176 | ||||||
121,370 | Zomato Ltd. (a) | 124,102 | ||||||
3,889 | Zydus Lifesciences Ltd. | 29,895 | ||||||
34,037,815 |
The accompanying notes are an integral part of these financial statements.
48
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Indonesia - 2.7% | ||||||||
307,598 | Adaro Energy Indonesia Tbk PT | $ | 49,159 | |||||
203,494 | Adaro Minerals Indonesia Tbk PT (a) | 12,482 | ||||||
184,783 | Aneka Tambang Tbk | 24,323 | ||||||
607,277 | Astra International Tbk PT | 275,852 | ||||||
343,779 | Avia Avian Tbk PT | 14,134 | ||||||
1,662,282 | Bank Central Asia Tbk PT | 1,005,857 | ||||||
139,089 | Bank Jago Tbk PT (a) | 26,840 | ||||||
1,166,049 | Bank Mandiri Persero Tbk PT | 442,681 | ||||||
110,295 | Bank Mega Tbk PT | 39,130 | ||||||
190,487 | Bank Negara Indonesia Persero Tbk PT | 112,107 | ||||||
2,264,084 | Bank Rakyat Indonesia Persero Tbk PT | 848,281 | ||||||
399,976 | Bank Syariah Indonesia Tbk PT | 43,897 | ||||||
572,029 | Barito Pacific Tbk PT | 29,398 | ||||||
19,283 | Bayan Resources Tbk PT | 25,382 | ||||||
500,196 | Chandra Asri Petrochemical Tbk PT | 70,319 | ||||||
183,796 | Charoen Pokphand Indonesia Tbk PT (a) | 63,073 | ||||||
411,191 | Dayamitra Telekomunikasi PT | 17,860 | ||||||
493,077 | Elang Mahkota Teknologi Tbk PT | 21,253 | ||||||
17,683,076 | GoTo Gojek Tokopedia Tbk PT (a) | 132,506 | ||||||
10,067 | Gudang Garam Tbk PT | 18,642 | ||||||
56,267 | Indah Kiat Pulp & Paper Tbk PT | 34,141 | ||||||
49,949 | Indofood CBP Sukses Makmur Tbk PT | 37,097 | ||||||
110,455 | Indofood Sukses Makmur Tbk PT | 53,653 | ||||||
506,873 | Kalbe Farma Tbk PT | 64,367 | ||||||
314,011 | Merdeka Copper Gold Tbk PT (a) | 73,089 | ||||||
35,901 | MNC Digital Entertainment Tbk PT (a) | 8,999 | ||||||
421,688 | Sarana Menara Nusantara Tbk PT | 28,383 | ||||||
73,056 | Semen Indonesia Persero Tbk PT | 33,791 | ||||||
464,588 | Sumber Alfaria Trijaya Tbk PT | 83,182 | ||||||
1,510,033 | Telkom Indonesia Persero Tbk PT | 372,502 | ||||||
102,780 | Tower Bersama Infrastructure Tbk PT | 13,154 | ||||||
125,935 | Unilever Indonesia Tbk PT | 32,152 | ||||||
33,237 | United Tractors Tbk PT | 60,666 | ||||||
101,764 | Vale Indonesia Tbk PT | 46,394 | ||||||
4,214,746 | ||||||||
Kuwait - 1.1% | ||||||||
34,018 | Agility Public Warehousing Co. KSC (a) | 69,763 | ||||||
38,980 | Boubyan Bank KSCP | 78,671 | ||||||
35,048 | Commercial Bank of Kuwait KPSC | 66,171 | ||||||
250,944 | Kuwait Finance House KSCP | 644,514 | ||||||
46,165 | Mobile Telecommunications Co. KSCP | 78,294 | ||||||
213,709 | National Bank of Kuwait SAKP | 669,232 | ||||||
1,606,645 | ||||||||
Luxembourg - 0.1% | ||||||||
10,292 | Allegro.eu S.A. (a)(b) | 90,750 |
The accompanying notes are an integral part of these financial statements.
49
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Malaysia - 1.2% | ||||||||
30,245 | AMMB Holdings Bhd | $ | 25,892 | |||||
53,242 | Axiata Group Bhd | 31,527 | ||||||
33,372 | CELCOMDIGI BHD | 32,713 | ||||||
146,847 | CIMB Group Holdings Bhd | 180,750 | ||||||
37,806 | Dialog Group Bhd | 19,285 | ||||||
45,096 | Genting Bhd | 43,106 | ||||||
60,570 | Genting Malaysia Bhd | 34,926 | ||||||
22,525 | Hong Leong Bank Bhd | 97,813 | ||||||
3,968 | Hong Leong Financial Group Bhd | 16,104 | ||||||
26,314 | IHH Healthcare Bhd | 34,724 | ||||||
30,346 | IOI Corp. Bhd | 28,065 | ||||||
7,755 | Kuala Lumpur Kepong Bhd | 40,108 | ||||||
135,439 | Malayan Banking Bhd | 270,938 | ||||||
20,033 | Maxis Bhd | 17,949 | ||||||
19,057 | MISC Bhd | 30,388 | ||||||
46,560 | MR DIY Group M Bhd (b) | 15,179 | ||||||
823 | Nestle Malaysia Bhd | 24,440 | ||||||
30,574 | Petronas Chemicals Group Bhd | 47,126 | ||||||
2,673 | Petronas Dagangan Bhd | 13,611 | ||||||
6,348 | Petronas Gas Bhd | 24,046 | ||||||
10,405 | PPB Group Bhd | 38,537 | ||||||
112,689 | Press Metal Aluminium Holdings Bhd | 125,960 | ||||||
343,471 | Public Bank Bhd | 317,648 | ||||||
12,025 | QL Resources Bhd | 14,615 | ||||||
31,847 | RHB Bank Bhd | 40,188 | ||||||
44,973 | Sime Darby Bhd | 21,743 | ||||||
34,533 | Sime Darby Plantation Bhd | 34,847 | ||||||
27,532 | Telekom Malaysia Bhd | 31,080 | ||||||
58,778 | Tenaga Nasional Bhd | 125,143 | ||||||
8,859 | Westports Holdings Bhd | 6,877 | ||||||
1,785,328 | ||||||||
Mexico - 4.2% | ||||||||
118,104 | Alfa S.A.B. de C.V. - Class A | 72,717 | ||||||
904,522 | America Movil S.A.B. de C.V. (a) | 948,546 | ||||||
10,322 | Arca Continental S.A.B. de C.V. | 103,565 | ||||||
10,148 | Becle S.A.B. de C.V. | 26,532 | ||||||
438,652 | Cemex S.A.B. de C.V. (a) | 334,261 | ||||||
12,277 | Coca-Cola Femsa S.A.B. de C.V. | 103,444 | ||||||
4,261 | El Puerto de Liverpool S.A.B. de C.V. | 26,660 | ||||||
65,641 | Fomento Economico Mexicano S.A.B. de C.V. | 743,709 | ||||||
17,705 | GMexico Transportes S.A.B. de C.V. - Class C (b) | 42,293 | ||||||
4,416 | Gruma S.A.B. de C.V. - Class B | 78,879 | ||||||
9,224 | Grupo Aeroportuario del Pacifico S.A.B. de C.V. - Class B | 175,501 | ||||||
4,433 | Grupo Aeroportuario del Sureste S.A.B. de C.V. - Class B | 125,771 | ||||||
31,552 | Grupo Bimbo S.A.B. de C.V. - Class A | 163,987 | ||||||
67,841 | Grupo Carso S.A.B. de C.V. | 539,608 | ||||||
1,172 | Grupo Elektra S.A.B. de C.V. (a) | 88,251 |
The accompanying notes are an integral part of these financial statements.
50
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
87,186 | Grupo Financiero Banorte S.A.B. de C.V. | $ | 826,718 | |||||
40,189 | Grupo Financiero Inbursa S.A.B. de C.V. (a) | 97,874 | ||||||
190,596 | Grupo Mexico S.A.B. de C.V. - Class B | 991,509 | ||||||
2,393 | Grupo Simec S.A.B. de C.V. - Class B (a) | 28,589 | ||||||
69,179 | Grupo Televisa SAB | 73,290 | ||||||
2,949 | Industrias CH S.A.B. de C.V. - Class B (a) | 35,066 | ||||||
2,675 | Industrias Penoles S.A.B. de C.V. | 38,305 | ||||||
39,161 | Kimberly-Clark de Mexico S.A.B. de C.V. - Class A | 92,354 | ||||||
20,213 | Orbia Advance Corp. S.A.B. de C.V. | 45,906 | ||||||
5,304 | Promotora y Operadora de Infraestructura S.A.B. de C.V. | 55,172 | ||||||
155,912 | Wal-Mart de Mexico S.A.B. de C.V. | 649,439 | ||||||
6,507,946 | ||||||||
Panama - 0.0% (d) | ||||||||
928 | InRetail Peru Corp. ADR (a)(b) | 31,181 | ||||||
726 | Intercorp Financial Services, Inc. ADR | 17,816 | ||||||
48,997 | ||||||||
Peru - 0.0% (d) | ||||||||
20,585 | Minsur S.A. | 22,733 | ||||||
Philippines - 1.1% | ||||||||
57,984 | Aboitiz Equity Ventures, Inc. | 56,796 | ||||||
32,271 | Aboitiz Power Corp. | 21,181 | ||||||
173,520 | ACEN Corp. | 16,491 | ||||||
7,834 | Ayala Corp. | 87,718 | ||||||
233,808 | Ayala Land, Inc. | 116,638 | ||||||
70,180 | Bank of the Philippine Islands | 146,302 | ||||||
85,476 | BDO Unibank, Inc. | 225,809 | ||||||
68,773 | Emperador, Inc. | 26,232 | ||||||
695 | Globe Telecom, Inc. | 24,295 | ||||||
1,525 | Golden MV Holdings, Inc. (a) | 23,600 | ||||||
25,542 | International Container Terminal Services, Inc. | 100,912 | ||||||
72,504 | JG Summit Holdings, Inc. | 56,828 | ||||||
11,384 | Jollibee Foods Corp. | 52,852 | ||||||
5,445 | Manila Electric Co. | 35,292 | ||||||
47,171 | Metropolitan Bank & Trust Co. | 51,530 | ||||||
157,223 | Monde Nissin Corp. (b) | 23,444 | ||||||
1,979 | PLDT, Inc. | 47,201 | ||||||
10,585 | San Miguel Corp. | 20,987 | ||||||
19,024 | SM Investments Corp. | 315,883 | ||||||
351,905 | SM Prime Holdings, Inc. | 213,994 | ||||||
20,930 | Universal Robina Corp. | 46,719 | ||||||
1,710,704 | ||||||||
Poland - 1.1% | ||||||||
4,326 | Bank Polska Kasa Opieki S.A. | 127,761 | ||||||
5,411 | Cyfrowy Polsat S.A. | 21,816 | ||||||
1,174 | Dino Polska S.A. (a)(b) | 130,804 | ||||||
698 | ING Bank Slaski S.A. (a) | 34,816 | ||||||
3,346 | KGHM Polska Miedz S.A. | 103,621 |
The accompanying notes are an integral part of these financial statements.
51
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
17 | LPP S.A. | $ | 58,567 | |||||
32,568 | ORLEN S.A. | 581,251 | ||||||
25,135 | PGE Polska Grupa Energetyczna S.A. (a) | 53,475 | ||||||
30,721 | Powszechna Kasa Oszczednosci Bank Polski S.A. (a) | 311,838 | ||||||
13,939 | Powszechny Zaklad Ubezpieczen S.A. | 141,038 | ||||||
817 | Santander Bank Polska S.A. (a) | 81,054 | ||||||
1,646,041 | ||||||||
Qatar - 1.3% | ||||||||
99,095 | Commercial Bank PSQC | 170,149 | ||||||
47,878 | Industries Qatar Q.S.C. | 175,333 | ||||||
163,698 | Masraf Al Rayan Q.S.C. | 112,880 | ||||||
106,394 | Mesaieed Petrochemical Holding Co. | 56,997 | ||||||
24,391 | Ooredoo Q.P.S.C. | 76,590 | ||||||
8,623 | Qatar Electricity & Water Co. Q.S.C. | 42,997 | ||||||
19,475 | Qatar Fuel Q.S.C. | 89,885 | ||||||
82,953 | Qatar Gas Transport Co., Ltd. | 96,057 | ||||||
34,825 | Qatar International Islamic Bank Q.S.C. | 99,309 | ||||||
70,977 | Qatar Islamic Bank S.A.Q. | 412,408 | ||||||
142,692 | Qatar National Bank Q.P.S.C. | 665,635 | ||||||
1,998,240 | ||||||||
Republic of Korea - 13.8% | ||||||||
629 | Amorepacific Corp. | 55,614 | ||||||
667 | AMOREPACIFIC Group | 14,338 | ||||||
2,221 | Celltrion Healthcare Co., Ltd. | 114,652 | ||||||
2,748 | Celltrion, Inc. | 316,053 | ||||||
150 | CJ CheilJedang Corp. | 32,950 | ||||||
1,208 | Coway Co., Ltd. | 38,856 | ||||||
948 | DB Insurance Co., Ltd. | 56,152 | ||||||
9,706 | Doosan Enerbility Co., Ltd. (a) | 133,180 | ||||||
1,153 | Ecopro BM Co., Ltd. | 379,011 | ||||||
315 | F&F Co., Ltd. | 25,578 | ||||||
1,693 | GS Holdings Corp. | 50,073 | ||||||
7,703 | Hana Financial Group, Inc. | 237,499 | ||||||
1,612 | Hankook Tire & Technology Co., Ltd. | 48,942 | ||||||
2,789 | Hanon Systems | 18,664 | ||||||
2,056 | Hanwha Solutions Corp. (a) | 61,052 | ||||||
827 | HD Hyundai Co., Ltd. | 39,966 | ||||||
224 | HD Hyundai Heavy Industries Co., Ltd. (a) | 24,550 | ||||||
943 | HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (a) | 91,219 | ||||||
2,761 | HLB, Inc. (a) | 71,156 | ||||||
5,993 | HMM Co., Ltd. | 82,232 | ||||||
321 | HYBE Co., Ltd. (a) | 66,106 | ||||||
1,546 | Hyundai Engineering & Construction Co., Ltd. | 45,362 | ||||||
364 | Hyundai Glovis Co., Ltd. | 49,775 | ||||||
1,630 | Hyundai Mobis Co., Ltd. | 297,956 | ||||||
3,581 | Hyundai Motor Co. | 550,642 | ||||||
1,841 | Hyundai Steel Co. | 52,212 | ||||||
5,272 | Industrial Bank of Korea | 42,973 |
The accompanying notes are an integral part of these financial statements.
52
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
8,136 | Kakao Corp. | $ | 327,444 | |||||
814 | Kakao Games Corp. (a) | 20,116 | ||||||
3,836 | KakaoBank Corp. | 78,246 | ||||||
441 | Kakaopay Corp. (a) | 17,368 | ||||||
2,392 | Kangwon Land, Inc. | 29,275 | ||||||
9,152 | KB Financial Group, Inc. | 366,181 | ||||||
6,623 | Kia Corp. | 429,704 | ||||||
1,474 | Korea Aerospace Industries Ltd. | 56,895 | ||||||
6,646 | Korea Electric Power Corp. (a) | 100,161 | ||||||
737 | Korea Investment Holdings Co., Ltd. | 28,245 | ||||||
207 | Korea Zinc Co., Ltd. | 80,224 | ||||||
5,305 | Korean Air Lines Co., Ltd. | 102,383 | ||||||
630 | Krafton, Inc. (a) | 84,913 | ||||||
4,753 | KT Corp. | 110,002 | ||||||
2,869 | KT&G Corp. | 185,917 | ||||||
310 | Kumho Petrochemical Co., Ltd. | 29,209 | ||||||
571 | L&F Co., Ltd. | 115,351 | ||||||
1,258 | LG Chem Ltd. | 639,536 | ||||||
3,036 | LG Corp. | 198,883 | ||||||
5,065 | LG Display Co., Ltd. (a) | 53,604 | ||||||
2,862 | LG Electronics, Inc. | 243,393 | ||||||
303 | LG Energy Solution Ltd. (a) | 133,119 | ||||||
202 | LG H&H Co., Ltd. | 67,827 | ||||||
291 | LG Innotek Co., Ltd. | 60,271 | ||||||
5,713 | LG Uplus Corp. | 44,865 | ||||||
523 | Lotte Chemical Corp. | 61,792 | ||||||
2,373 | Meritz Financial Group, Inc. | 91,595 | ||||||
4,226 | Mirae Asset Securities Co., Ltd. | 22,976 | ||||||
3,859 | NAVER Corp. | 687,242 | ||||||
303 | NCSoft Corp. | 65,727 | ||||||
356 | Netmarble Corp. (a)(b) | 13,741 | ||||||
405 | Orion Corp. | 36,063 | ||||||
633 | POSCO Future M Co., Ltd. | 261,712 | ||||||
1,837 | POSCO Holdings, Inc. | 925,238 | ||||||
526 | Samsung Biologics Co., Ltd. (a)(b) | 316,099 | ||||||
2,159 | Samsung C&T Corp. | 174,969 | ||||||
489 | Samsung Card Co., Ltd. | 10,934 | ||||||
1,187 | Samsung Electro-Mechanics Co., Ltd. | 135,402 | ||||||
145,982 | Samsung Electronics Co., Ltd. | 7,993,993 | ||||||
3,173 | Samsung Engineering Co., Ltd. (a) | 92,105 | ||||||
697 | Samsung Fire & Marine Insurance Co., Ltd. | 133,423 | ||||||
15,791 | Samsung Heavy Industries Co., Ltd. (a) | 111,868 | ||||||
1,625 | Samsung Life Insurance Co., Ltd. | 88,985 | ||||||
1,395 | Samsung SDI Co., Ltd. | 727,788 | ||||||
743 | Samsung SDS Co., Ltd. | 74,787 | ||||||
13,165 | Shinhan Financial Group Co., Ltd. | 362,008 | ||||||
490 | SK Biopharmaceuticals Co., Ltd. (a) | 31,292 | ||||||
378 | SK Bioscience Co., Ltd. (a) | 21,737 |
The accompanying notes are an integral part of these financial statements.
53
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
14,566 | SK Hynix, Inc. | $ | 1,410,147 | |||||
386 | SK IE Technology Co., Ltd. (a)(b) | 32,493 | ||||||
738 | SK, Inc. | 88,469 | ||||||
1,019 | SK Innovation Co., Ltd. (a) | 172,678 | ||||||
2,176 | SK Square Co., Ltd. (a) | 75,797 | ||||||
3,361 | SK Telecom Co., Ltd. | 121,557 | ||||||
348 | SKC Co., Ltd. | 27,083 | ||||||
816 | S-Oil Corp. | 47,949 | ||||||
13,279 | Woori Financial Group, Inc. | 121,367 | ||||||
1,122 | Yuhan Corp. | 64,258 | ||||||
21,203,169 | ||||||||
Saudi Arabia - 10.1% | ||||||||
3,307 | ACWA Power Co. | 162,547 | ||||||
118,275 | Al Rajhi Bank | 2,351,881 | ||||||
54,337 | Alinma Bank | 535,896 | ||||||
6,107 | Almarai Co. JSC | 112,158 | ||||||
18,642 | Arab National Bank | 132,426 | ||||||
596 | Arabian Internet & Communications Services Co. | 57,986 | ||||||
13,285 | Bank AlBilad | 154,926 | ||||||
18,231 | Bank Al-Jazira (a) | 89,318 | ||||||
22,128 | Banque Saudi Fransi | 251,267 | ||||||
1,836 | Bupa Arabia for Cooperative Insurance Co. | 84,469 | ||||||
2,103 | Dr Sulaiman Al Habib Medical Services Group Co. | 162,002 | ||||||
656 | Elm Co. | 118,939 | ||||||
13,768 | Etihad Etisalat Co. | 171,935 | ||||||
21,639 | Jarir Marketing Co. | 89,403 | ||||||
17,392 | Kingdom Holding Co. | 35,743 | ||||||
1,180 | Mouwasat Medical Services Co. | 78,948 | ||||||
832 | Nahdi Medical Co. | 38,544 | ||||||
8,908 | Rabigh Refining & Petrochemical Co. (a) | 24,694 | ||||||
53,521 | Riyad Bank | 453,665 | ||||||
5,901 | SABIC Agri-Nutrients Co. | 226,816 | ||||||
16,209 | Sahara International Petrochemical Co. | 163,317 | ||||||
36,625 | Saudi Arabian Mining Co. (a) | 433,455 | ||||||
717,984 | Saudi Arabian Oil Co. (b) | 6,200,736 | ||||||
24,861 | Saudi Awwal Bank | 252,480 | ||||||
27,175 | Saudi Basic Industries Corp. | 620,774 | ||||||
19,423 | Saudi Electricity Co. | 116,178 | ||||||
15,265 | Saudi Industrial Investment Group | 101,642 | ||||||
17,299 | Saudi Investment Bank | 82,539 | ||||||
24,223 | Saudi Kayan Petrochemical Co. (a) | 79,159 | ||||||
113,792 | Saudi National Bank | 1,169,283 | ||||||
686 | Saudi Research & Media Group (a) | 34,231 | ||||||
1,192 | Saudi Tadawul Group Holding Co. | 63,991 | ||||||
54,422 | Saudi Telecom Co. | 615,069 | ||||||
10,235 | Savola Group | 115,402 | ||||||
6,847 | Yanbu National Petrochemical Co. | 83,589 | ||||||
15,465,408 |
The accompanying notes are an integral part of these financial statements.
54
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
South Africa - 3.3% | ||||||||
22,791 | Absa Group Ltd. | $ | 241,435 | |||||
1,741 | African Rainbow Minerals Ltd. | 19,543 | ||||||
1,023 | Anglo American Platinum Ltd. | 50,934 | ||||||
11,442 | AngloGold Ashanti Ltd. | 252,465 | ||||||
6,653 | Aspen Pharmacare Holdings Ltd. | 71,349 | ||||||
6,184 | Bid Corp. Ltd. | 146,476 | ||||||
6,479 | Bidvest Group Ltd. | 100,534 | ||||||
1,950 | Capitec Bank Holdings Ltd. | 195,549 | ||||||
4,606 | Clicks Group Ltd. | 72,249 | ||||||
8,771 | Discovery Ltd. (a) | 77,485 | ||||||
7,079 | Exxaro Resources Ltd. | 64,133 | ||||||
117,564 | FirstRand Ltd. | 478,506 | ||||||
24,245 | Gold Fields Ltd. | 372,695 | ||||||
21,748 | Impala Platinum Holdings Ltd. | 156,874 | ||||||
3,924 | Investec Ltd. | 24,494 | ||||||
1,004 | Kumba Iron Ore Ltd. | 27,430 | ||||||
43,329 | MTN Group Ltd. | 339,315 | ||||||
4,742 | MultiChoice Group | 23,469 | ||||||
4,057 | Naspers Ltd. | 797,190 | ||||||
12,557 | Nedbank Group Ltd. | 165,004 | ||||||
7,794 | Northam Platinum Holdings Ltd. (a) | 65,852 | ||||||
120,627 | Old Mutual Ltd. | 87,753 | ||||||
12,795 | OUTsurance Group Ltd. | 27,667 | ||||||
45,687 | Pepkor Holdings Ltd. (b) | 44,400 | ||||||
8,967 | Remgro Ltd. | 80,616 | ||||||
41,044 | Sanlam Ltd. | 150,945 | ||||||
13,248 | Sasol Ltd. | 184,070 | ||||||
10,368 | Shoprite Holdings Ltd. | 149,806 | ||||||
39,381 | Sibanye Stillwater Ltd. | 74,474 | ||||||
33,216 | Standard Bank Group Ltd. | 354,750 | ||||||
6,893 | Vodacom Group Ltd. | 45,470 | ||||||
15,205 | Woolworths Holdings, Ltd. | 68,017 | ||||||
5,010,949 | ||||||||
Taiwan - 18.5% | ||||||||
11,630 | Accton Technology Corp. | 141,367 | ||||||
10,736 | Advantech Co., Ltd. | 133,746 | ||||||
108,393 | ASE Technology Holding Co., Ltd. | 394,921 | ||||||
55,065 | Asia Cement Corp. | 70,613 | ||||||
15,648 | Asustek Computer, Inc. | 181,244 | ||||||
145,106 | AUO Corp. | 95,578 | ||||||
15,680 | Catcher Technology Co., Ltd. | 86,566 | ||||||
270,877 | Cathay Financial Holding Co., Ltd. | 394,337 | ||||||
148,158 | Chang Hwa Commercial Bank Ltd. | 88,867 | ||||||
44,368 | Cheng Shin Rubber Industry Co., Ltd. | 54,284 | ||||||
83,652 | China Airlines Ltd. | 66,413 | ||||||
470,637 | China Development Financial Holding Corp. (a) | 187,946 | ||||||
343,017 | China Steel Corp. | 305,071 |
The accompanying notes are an integral part of these financial statements.
55
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
122,723 | Chunghwa Telecom Co., Ltd. | $ | 452,989 | |||||
102,067 | Compal Electronics, Inc. | 98,896 | ||||||
519,622 | CTBC Financial Holding Co., Ltd. | 434,031 | ||||||
54,603 | Delta Electronics, Inc. | 635,050 | ||||||
18,569 | E Ink Holdings, Inc. | 132,946 | ||||||
393,142 | E.Sun Financial Holding Co., Ltd. | 323,380 | ||||||
4,214 | Eclat Textile Co., Ltd. | 72,677 | ||||||
1,615 | eMemory Technology, Inc. | 95,328 | ||||||
69,604 | Eva Airways Corp. | 81,395 | ||||||
44,920 | Evergreen Marine Corp. Taiwan Ltd. | 148,654 | ||||||
68,775 | Far Eastern New Century Corp. | 64,997 | ||||||
45,998 | Far EasTone Telecommunications Co., Ltd. | 103,921 | ||||||
10,579 | Feng TAY Enterprise Co., Ltd. | 71,365 | ||||||
310,935 | First Financial Holding Co., Ltd. | 287,422 | ||||||
96,409 | Formosa Chemicals & Fibre Corp. | 200,632 | ||||||
28,484 | Formosa Petrochemical Corp. | 72,691 | ||||||
138,113 | Formosa Plastics Corp. | 365,647 | ||||||
209,073 | Fubon Financial Holding Co., Ltd. | 435,756 | ||||||
7,138 | Giant Manufacturing Co., Ltd. | 52,695 | ||||||
4,918 | Globalwafers Co., Ltd. | 80,437 | ||||||
341,095 | Hon Hai Precision Industry Co., Ltd. | 1,177,631 | ||||||
6,513 | Hotai Motor Co., Ltd. | 157,092 | ||||||
290,390 | Hua Nan Financial Holdings Co., Ltd. - Class C | 205,596 | ||||||
214,649 | Innolux Corp. | 113,723 | ||||||
62,117 | Inventec Corp. | 125,908 | ||||||
2,259 | Largan Precision Co., Ltd. | 156,343 | ||||||
51,969 | Lite-On Technology Corp. | 248,877 | ||||||
41,324 | MediaTek, Inc. | 907,309 | ||||||
309,591 | Mega Financial Holding Co., Ltd. | 396,514 | ||||||
16,418 | Micro-Star International Co., Ltd. | 101,612 | ||||||
1,084 | momo.com, Inc. | 20,661 | ||||||
142,108 | Nan Ya Plastics Corp. | 316,534 | ||||||
3,709 | Nan Ya Printed Circuit Board Corp. | 29,269 | ||||||
27,472 | Nanya Technology Corp. | 63,202 | ||||||
3,701 | Nien Made Enterprise Co., Ltd. | 38,274 | ||||||
13,599 | Novatek Microelectronics Corp. | 183,475 | ||||||
41,922 | Pegatron Corp. | 101,915 | ||||||
5,313 | PharmaEssentia Corp. (a) | 57,988 | ||||||
54,769 | Pou Chen Corp. | 54,461 | ||||||
72,370 | Powerchip Semiconductor Manufacturing Corp. | 68,970 | ||||||
12,426 | President Chain Store Corp. | 110,316 | ||||||
63,980 | Quanta Computer, Inc. | 485,553 | ||||||
10,153 | Realtek Semiconductor Corp. | 139,082 | ||||||
36,845 | Ruentex Development Co., Ltd. (a) | 41,738 | ||||||
94,965 | Shanghai Commercial & Savings Bank Ltd. | 133,111 | ||||||
326,078 | Shin Kong Financial Holding Co., Ltd. (a) | 99,920 | ||||||
12,020 | Sino-American Silicon Products, Inc. | 65,595 | ||||||
257,187 | SinoPac Financial Holdings Co., Ltd. | 152,627 |
The accompanying notes are an integral part of these financial statements.
56
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
31,173 | Synnex Technology International Corp. | $ | 58,722 | |||||
277,786 | Taishin Financial Holding Co., Ltd. | 161,316 | ||||||
141,968 | Taiwan Business Bank | 65,051 | ||||||
156,393 | Taiwan Cement Corp. | 185,622 | ||||||
277,225 | Taiwan Cooperative Financial Holding Co., Ltd. | 259,348 | ||||||
51,891 | Taiwan High Speed Rail Corp. | 49,783 | ||||||
66,411 | Taiwan Mobile Co., Ltd. | 199,488 | ||||||
720,484 | Taiwan Semiconductor Manufacturing Co., Ltd. | 12,953,191 | ||||||
29,555 | Unimicron Technology Corp. | 173,513 | ||||||
141,514 | Uni-President Enterprises Corp. | 339,077 | ||||||
310,989 | United Microelectronics Corp. | 465,101 | ||||||
22,106 | Vanguard International Semiconductor Corp. | 54,374 | ||||||
1,601 | Voltronic Power Technology Corp. | 89,152 | ||||||
59,842 | Walsin Lihwa Corp. | 76,168 | ||||||
37,930 | Wan Hai Lines Ltd. | 60,830 | ||||||
66,897 | Winbond Electronics Corp. | 62,477 | ||||||
66,320 | Wistron Corp. | 298,610 | ||||||
1,759 | Wiwynn Corp. | 99,630 | ||||||
37,342 | WPG Holdings Ltd. | 59,887 | ||||||
8,671 | Yageo Corp. | 126,782 | ||||||
58,098 | Yang Ming Marine Transport Corp. | 85,964 | ||||||
350,747 | Yuanta Financial Holding Co., Ltd. | 272,325 | ||||||
28,361,569 | ||||||||
Thailand - 3.1% | ||||||||
31,336 | Advanced Info Service PCL | 206,900 | ||||||
126,257 | Airports of Thailand PCL (a) | 263,737 | ||||||
171,572 | Asset World Corp. PCL | 22,456 | ||||||
17,190 | B Grimm Power PCL | 19,461 | ||||||
54,544 | Bangkok Bank PCL | 273,288 | ||||||
338,362 | Bangkok Dusit Medical Services PCL | 284,203 | ||||||
182,241 | Bangkok Expressway & Metro PCL | 48,450 | ||||||
20,184 | Berli Jucker PCL | 20,639 | ||||||
165,765 | BTS Group Holdings PCL | 39,227 | ||||||
21,262 | Bumrungrad Hospital PCL | 134,174 | ||||||
7,551 | Carabao Group PCL | 16,049 | ||||||
92,605 | Central Pattana PCL | 183,972 | ||||||
105,866 | Central Retail Corp. PCL (b) | 127,582 | ||||||
76,571 | Charoen Pokphand Foods PCL | 45,412 | ||||||
141,901 | CP ALL PCL | 263,250 | ||||||
38,950 | CP Axtra PCL | 39,259 | ||||||
140,272 | Delta Electronics Thailand PCL | 463,083 | ||||||
4,629 | Electricity Generating PCL | 18,054 | ||||||
35,647 | Energy Absolute PCL | 64,569 | ||||||
14,002 | Global Power Synergy PCL | 23,624 | ||||||
130,115 | Gulf Energy Development PCL | 189,117 | ||||||
126,185 | Home Product Center PCL | 52,349 | ||||||
42,115 | Indorama Ventures PCL | 42,141 | ||||||
21,574 | Intouch Holdings PCL | 48,532 |
The accompanying notes are an integral part of these financial statements.
57
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
71,788 | Kasikornbank PCL | $ | 264,260 | |||||
142,106 | Krung Thai Bank PCL | 85,109 | ||||||
22,480 | Krungthai Card PCL | 30,868 | ||||||
170,039 | Land & Houses PCL | 42,226 | ||||||
66,910 | Minor International PCL | 64,508 | ||||||
30,453 | Osotspa PCL | 26,023 | ||||||
40,533 | PTT Exploration & Production PCL | 188,877 | ||||||
52,677 | PTT Global Chemical PCL | 60,789 | ||||||
59,584 | PTT Oil & Retail Business PCL (b) | 37,252 | ||||||
396,960 | PTT PCL | 405,904 | ||||||
77,229 | SCB X PCL | 253,829 | ||||||
24,707 | SCG Packaging PCL | 29,234 | ||||||
21,340 | Siam Cement PCL | 202,622 | ||||||
46,046 | Siam Global House PCL | 22,197 | ||||||
99,896 | Thai Life Insurance PCL | 32,687 | ||||||
27,470 | Thai Oil PCL | 41,130 | ||||||
2,043,178 | TMBThanachart Bank PCL | 102,670 | ||||||
259,601 | True Corp. PCL (a) | 54,986 | ||||||
4,834,699 | ||||||||
Turkey - 0.9% | ||||||||
103,203 | Akbank TAS | 107,023 | ||||||
12,619 | Aselsan Elektronik Sanayi Ve Ticaret AS | 34,940 | ||||||
13,849 | BIM Birlesik Magazalar AS | 111,079 | ||||||
60,219 | Enka Insaat ve Sanayi AS | 75,143 | ||||||
56,421 | Eregli Demir ve Celik Fabrikalari TAS (a) | 87,324 | ||||||
1,417 | Ford Otomotiv Sanayi AS | 49,942 | ||||||
1,087 | Gubre Fabrikalari TAS (a) | 12,571 | ||||||
32,410 | Haci Omer Sabanci Holding AS | 69,288 | ||||||
21,019 | Hektas Ticaret TAS (a) | 23,888 | ||||||
3,233 | Iskenderun Demir ve Celik AS (a) | 4,857 | ||||||
30,962 | KOC Holding AS | 155,139 | ||||||
20,890 | Koza Altin Isletmeleri AS | 21,710 | ||||||
36,602 | Sasa Polyester Sanayi AS (a) | 82,802 | ||||||
2,666 | Tofas Turk Otomobil Fabrikasi AS | 29,883 | ||||||
21,707 | Turk Hava Yollari AO (a) | 188,769 | ||||||
25,832 | Turkcell Iletisim Hizmetleri AS | 49,569 | ||||||
12,635 | Turkiye Garanti Bankasi AS | 20,587 | ||||||
74,195 | Turkiye Is Bankasi AS - Class C | 41,610 | ||||||
28,170 | Turkiye Petrol Rafinerileri AS | 108,110 | ||||||
40,652 | Turkiye Sise ve Cam Fabrikalari AS | 80,571 | ||||||
58,824 | Yapi ve Kredi Bankasi AS | 31,068 | ||||||
1,385,873 | ||||||||
United Arab Emirates - 4.1% | ||||||||
71,341 | Abu Dhabi Commercial Bank PJSC | 170,539 | ||||||
52,413 | Abu Dhabi Islamic Bank PJSC | 160,397 | ||||||
274,879 | Abu Dhabi National Energy Co. PJSC | 242,481 | ||||||
70,529 | Abu Dhabi National Oil Co. for Distribution PJSC | 74,890 | ||||||
19,051 | Abu Dhabi Ports Co. PJSC (a) | 34,234 |
The accompanying notes are an integral part of these financial statements.
58
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
38,269 | ADNOC Drilling Co. PJSC | $ | 41,052 | |||||
89,578 | Aldar Properties PJSC | 126,091 | ||||||
41,420 | Alpha Dhabi Holding PJSC (a) | 225,093 | ||||||
220,776 | Dubai Electricity & Water Authority PJSC | 161,093 | ||||||
127,958 | Dubai Islamic Bank PJSC | 200,321 | ||||||
18,125 | Emaar Development PJSC | 31,287 | ||||||
186,203 | Emaar Properties PJSC | 342,708 | ||||||
19,831 | Emirates Integrated Telecommunications Co. PJSC | 29,804 | ||||||
73,731 | Emirates NBD Bank PJSC | 341,264 | ||||||
104,406 | Emirates Telecommunications Group Co. PJSC | 636,743 | ||||||
154,889 | First Abu Dhabi Bank PJSC | 617,380 | ||||||
25,546 | International Holding Co. PJSC (a) | 2,748,026 | ||||||
91,690 | Multiply Group PJSC (a) | 80,633 | ||||||
4,333 | National Marine Dredging Co. (a) | 25,930 | ||||||
6,289,966 | ||||||||
United States - 0.2% | ||||||||
2,532 | Southern Copper Corp. | 221,398 | ||||||
TOTAL COMMON STOCKS (Cost $138,650,428) | 147,940,968 | |||||||
PREFERRED STOCKS - 3.2% | ||||||||
Brazil - 2.2% | ||||||||
160,370 | Banco Bradesco S.A. | 564,665 | ||||||
8,543 | Banco Santander Brasil S.A. | 27,352 | ||||||
4,070 | Braskem S.A. - Class A | 21,672 | ||||||
5,316 | Centrais Eletricas Brasileiras S.A. - Class B | 49,116 | ||||||
34,716 | Cia Energetica de Minas Gerais | 93,163 | ||||||
22,748 | Cia Paranaense de Energia | 40,168 | ||||||
4,049 | CTEEP-Cia de Transmissao de Energia Eletrica Paulista | 21,578 | ||||||
25,710 | Energisa S.A. | 47,465 | ||||||
35,574 | Gerdau S.A. | 220,271 | ||||||
148,289 | Itau Unibanco Holding S.A. | 897,495 | ||||||
159,067 | Itausa S.A. | 330,328 | ||||||
77,054 | Klabin S.A. | 75,282 | ||||||
146,390 | Petroleo Brasileiro S.A. | 963,396 | ||||||
21,277 | Raizen S.A. | 18,853 | ||||||
3,370,804 | ||||||||
Chile - 0.2% | ||||||||
5,284 | Sociedad Quimica y Minera de Chile S.A. - Class B | 387,445 | ||||||
Colombia - 0.1% | ||||||||
11,069 | Bancolombia S.A. | 84,126 | ||||||
80,789 | Grupo Aval Acciones y Valores S.A. | 10,508 | ||||||
2,284 | Grupo de Inversiones Suramericana S.A. | 8,173 | ||||||
102,807 | ||||||||
Republic of Korea - 0.7% | ||||||||
24,672 | Samsung Electronics Co., Ltd. | 1,111,029 | ||||||
TOTAL PREFERRED STOCKS (Cost $4,474,277) | 4,972,085 |
The accompanying notes are an integral part of these financial statements.
59
Strive Emerging Markets Ex-China ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
REAL ESTATE INVESTMENT TRUSTS - 0.1% | ||||||||
Mexico - 0.1% | ||||||||
93,742 | Fibra Uno Administracion S.A. de CV | $ | 140,907 | |||||
South Africa - 0.0% (d) | ||||||||
57,324 | Growthpoint Properties Ltd. | 40,612 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $170,156) | 181,519 | |||||||
MONEY MARKET FUNDS - 0.5% | ||||||||
810,994 | First American Government Obligations Fund - Class X, 5.14% (e) | 810,994 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $810,994) | 810,994 | |||||||
TOTAL INVESTMENTS (Cost $144,105,855) - 100.1% | $ | 153,905,566 | ||||||
Other Liabilities in Excess of Assets - (0.1%) | (178,563 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 153,727,003 |
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
(a) | Non-income producing security. | |
(b) | 144A restricted security. | |
(c) | Value determined using significant unobservable inputs. | |
(d) | Represents less than 0.05% of net assets. | |
(e) | Rate shown is the 7-day effective yield. |
The accompanying notes are an integral part of these financial statements.
60
Strive 1000 Dividend Growth ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 96.3% | ||||||||
Advertising - 0.1% | ||||||||
562 | Interpublic Group of Cos., Inc. | $ | 19,237 | |||||
Aerospace & Defense - 2.0% | ||||||||
130 | BWX Technologies, Inc. | 8,970 | ||||||
52 | Curtiss-Wright Corp. | 9,951 | ||||||
359 | General Dynamics Corp. | 80,265 | ||||||
102 | HEICO Corp. - Class A | 14,316 | ||||||
62 | HEICO Corp. | 10,911 | ||||||
58 | Huntington Ingalls Industries, Inc. | 13,321 | ||||||
282 | L3Harris Technologies, Inc. | 53,436 | ||||||
377 | Lockheed Martin Corp. | 168,281 | ||||||
204 | Northrop Grumman Corp. | 90,780 | ||||||
450,231 | ||||||||
Agricultural & Farm Machinery - 0.1% | ||||||||
85 | AGCO Corp | 11,313 | ||||||
147 | Toro Co. | 14,943 | ||||||
26,256 | ||||||||
Air Freight & Logistics - 1.0% | ||||||||
228 | Expeditors International of Washington, Inc. | 29,024 | ||||||
1,078 | United Parcel Service, Inc. - Class B | 201,726 | ||||||
230,750 | ||||||||
Application Software - 1.3% | ||||||||
407 | Intuit, Inc. | 208,262 | ||||||
157 | Roper Technologies, Inc. | 77,409 | ||||||
285,671 | ||||||||
Asset Management & Custody Banks - 1.0% | ||||||||
156 | Ameriprise Financial, Inc. | 54,358 | ||||||
205 | BlackRock, Inc. | 151,464 | ||||||
177 | SEI Investments Co. | 11,149 | ||||||
216,971 | ||||||||
Biotechnology - 3.2% | ||||||||
2,637 | AbbVie Inc | 394,442 | ||||||
795 | Amgen, Inc. | 186,149 | ||||||
1,862 | Gilead Sciences, Inc. | 141,773 | ||||||
722,364 | ||||||||
Broadcasting - 0.0% (a) | ||||||||
50 | Nexstar Media Group, Inc. | 9,336 | ||||||
Broadline Retail - 0.0% (a) | ||||||||
3 | Dillard’s, Inc. - Class A | 1,029 | ||||||
Building Products - 0.8% | ||||||||
103 | Advanced Drainage Systems, Inc. | 12,565 | ||||||
180 | A.O. Smith Corp. | 13,073 | ||||||
128 | Allegion PLC ADR (b) | 14,958 | ||||||
75 | Carlisle Cos., Inc. | 20,790 |
The accompanying notes are an integral part of these financial statements.
61
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
181 | Fortune Brands Innovations, Inc. | $ | 12,864 | |||||
48 | Lennox International, Inc. | 17,637 | ||||||
324 | Masco Corp. | 19,660 | ||||||
336 | Trane Technologies PLC ADR (b) | 67,012 | ||||||
178,559 | ||||||||
Cable & Satellite - 0.0% (a) | ||||||||
7 | Cable One, Inc. | 5,068 | ||||||
980 | Sirius XM Holdings, Inc. | 4,998 | ||||||
10,066 | ||||||||
Cargo Ground Transportation - 0.4% | ||||||||
122 | JB Hunt Transport Services, Inc. | 24,881 | ||||||
50 | Landstar System, Inc. | 10,179 | ||||||
148 | Old Dominion Freight Line, Inc. | 62,085 | ||||||
97,145 | ||||||||
Casinos & Gaming - 0.0% (a) | ||||||||
96 | Churchill Downs, Inc. | 11,122 | ||||||
Communications Equipment - 1.6% | ||||||||
5,596 | Cisco Systems, Inc. | 291,216 | ||||||
248 | Motorola Solutions, Inc. | 71,084 | ||||||
362,300 | ||||||||
Construction Machinery & Heavy Transportation Equipment - 1.2% | ||||||||
770 | Caterpillar, Inc. | 204,181 | ||||||
210 | Cummins, Inc. | 54,768 | ||||||
87 | Oshkosh Corp. | 8,010 | ||||||
266,959 | ||||||||
Construction Materials - 0.4% | ||||||||
90 | Martin Marietta Materials, Inc. | 40,181 | ||||||
194 | Vulcan Materials Co. | 42,777 | ||||||
82,958 | ||||||||
Consumer Electronics - 0.1% | ||||||||
224 | Garmin Ltd. ADR (b) | 23,719 | ||||||
Consumer Staples Merchandise Retail - 2.3% | ||||||||
660 | Costco Wholesale Corp. | 370,042 | ||||||
323 | Dollar General Corp. | 54,542 | ||||||
684 | Target Corp. | 93,345 | ||||||
517,929 | ||||||||
Data Processing & Outsourced Services - 0.3% | ||||||||
173 | Broadridge Financial Solutions, Inc. | 29,050 | ||||||
261 | Genpact Ltd. ADR (b) | 9,419 | ||||||
321 | SS&C Technologies Holdings, Inc. | 18,698 | ||||||
57,167 | ||||||||
Distillers & Vintners - 0.4% | ||||||||
439 | Brown-Forman Corp. - Class B | 30,993 | ||||||
233 | Constellation Brands, Inc. - Class A | 63,562 | ||||||
94,555 |
The accompanying notes are an integral part of these financial statements.
62
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Distributors - 0.2% | ||||||||
205 | Genuine Parts Co. | $ | 31,923 | |||||
56 | Pool Corp. | 21,545 | ||||||
53,468 | ||||||||
Diversified Banks - 0.1% | ||||||||
16 | First Citizens BancShares, Inc. - Class A | 22,901 | ||||||
Electric Utilities - 1.8% | ||||||||
359 | Alliant Energy Corp. | 19,293 | ||||||
766 | American Electric Power Co., Inc. | 64,911 | ||||||
500 | Eversource Energy | 36,165 | ||||||
69 | IDACORP, Inc. | 7,095 | ||||||
3,012 | NextEra Energy, Inc. | 220,780 | ||||||
118 | PNM Resources, Inc. | 5,289 | ||||||
819 | Xcel Energy, Inc. | 51,376 | ||||||
404,909 | ||||||||
Electrical Components & Equipment - 1.0% | ||||||||
592 | Eaton Corp. PLC ADR (b) | 121,549 | ||||||
81 | Hubbell, Inc. | 25,272 | ||||||
98 | Regal Rexnord Corp. | 15,306 | ||||||
170 | Rockwell Automation, Inc. | 57,169 | ||||||
219,296 | ||||||||
Electronic Components - 0.6% | ||||||||
882 | Amphenol Corp. - Class A | 77,889 | ||||||
1,110 | Corning, Inc. | 37,673 | ||||||
34 | Littelfuse, Inc. | 10,356 | ||||||
125,918 | ||||||||
Electronic Equipment & Instruments - 0.1% | ||||||||
242 | Cognex Corp. | 13,218 | ||||||
183 | National Instruments Corp. | 10,797 | ||||||
24,015 | ||||||||
Electronic Manufacturing Services - 0.3% | ||||||||
469 | TE Connectivity Ltd. ADR (b) | 67,297 | ||||||
Environmental & Facilities Services - 0.7% | ||||||||
307 | Republic Services, Inc. | 46,391 | ||||||
78 | Tetra Tech, Inc. | 13,198 | ||||||
612 | Waste Management, Inc. | 100,239 | ||||||
159,828 | ||||||||
Fertilizers & Agricultural Chemicals - 0.1% | ||||||||
180 | FMC Corp. | 17,321 | ||||||
Financial Exchanges & Data - 2.8% | ||||||||
149 | Cboe Global Markets, Inc. | 20,812 | ||||||
533 | CME Group, Inc. | 106,046 | ||||||
57 | FactSet Research Systems, Inc. | 24,797 | ||||||
827 | Intercontinental Exchange, Inc. | 94,940 |
The accompanying notes are an integral part of these financial statements.
63
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
51 | MarketAxess Holdings, Inc. | $ | 13,730 | |||||
233 | Moody’s Corp. | 82,191 | ||||||
35 | Morningstar, Inc. | 8,067 | ||||||
116 | MSCI, Inc. | 63,577 | ||||||
579 | Nasdaq, Inc. | 29,234 | ||||||
488 | S&P Global, Inc. | 192,521 | ||||||
635,915 | ||||||||
Food Distributors - 0.2% | ||||||||
749 | Sysco Corp. | 57,156 | ||||||
Food Retail - 0.1% | ||||||||
51 | Casey’s General Stores, Inc. | 12,886 | ||||||
Footwear - 0.9% | ||||||||
1,827 | Nike, Inc. - Class B | 201,683 | ||||||
Gas Utilities - 0.1% | ||||||||
213 | Atmos Energy Corp. | 25,924 | ||||||
Gold - 0.1% | ||||||||
96 | Royal Gold, Inc. | 11,533 | ||||||
Health Care Equipment - 3.0% | ||||||||
2,574 | Abbott Laboratories | 286,563 | ||||||
736 | Baxter International, Inc. | 33,289 | ||||||
1,984 | Medtronic PLC ADR (b) | 174,116 | ||||||
145 | Steris PLC ADR (b) | 32,705 | ||||||
505 | Stryker Corp. | 143,122 | ||||||
669,795 | ||||||||
Health Care Services - 0.1% | ||||||||
22 | Chemed Corp. | 11,464 | ||||||
163 | Quest Diagnostics, Inc. | 22,039 | ||||||
33,503 | ||||||||
Home Improvement Retail - 3.2% | ||||||||
1,510 | Home Depot, Inc. | 504,098 | ||||||
885 | Lowe’s Cos., Inc. | 207,329 | ||||||
711,427 | ||||||||
Household Products - 2.7% | ||||||||
354 | Church & Dwight Co., Inc. | 33,867 | ||||||
178 | Clorox Co. | 26,963 | ||||||
3,513 | Procter & Gamble Co. | 549,082 | ||||||
609,912 | ||||||||
Human Resource & Employment Services - 1.0% | ||||||||
612 | Automatic Data Processing, Inc. | 151,323 | ||||||
481 | Paychex, Inc. | 60,351 | ||||||
149 | Robert Half International, Inc. | 11,048 | ||||||
222,722 |
The accompanying notes are an integral part of these financial statements.
64
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Independent Power Producers & Energy Traders - 0.9% | ||||||||
950 | AES Corp. | $ | 20,549 | |||||
Industrial Conglomerates - 0.9% | ||||||||
990 | Honeywell International, Inc. | 192,189 | ||||||
Industrial Gases - 0.4% | ||||||||
330 | Air Products and Chemicals, Inc. | 100,759 | ||||||
Industrial Machinery & Supplies & Components - 1.7% | ||||||||
176 | Donaldson Co., Inc. | 11,058 | ||||||
208 | Dover Corp. | 30,362 | ||||||
241 | Graco, Inc. | 19,119 | ||||||
112 | IDEX Corp. | 25,291 | ||||||
409 | Illinois Tool Works, Inc. | 107,698 | ||||||
116 | ITT, Inc. | 11,554 | ||||||
82 | Lincoln Electric Holdings, Inc. | 16,458 | ||||||
75 | Nordson Corp. | 18,871 | ||||||
190 | Parker-Hannifin Corp. | 77,902 | ||||||
77 | Snap-on, Inc. | 20,978 | ||||||
354 | Xylem, Inc. | 39,914 | ||||||
379,205 | ||||||||
Insurance Brokers - 1.6% | ||||||||
288 | Aon PLC - Class A ADR (b) | 91,728 | ||||||
315 | Arthur J. Gallagher & Co. | 67,662 | ||||||
339 | Brown & Brown, Inc. | 23,883 | ||||||
736 | Marsh & McLennan Cos., Inc. | 138,677 | ||||||
157 | Willis Towers Watson PLC ADR (b) | 33,179 | ||||||
355,129 | ||||||||
Integrated Oil & Gas - 1.9% | ||||||||
2,581 | Chevron Corp. | 422,406 | ||||||
Investment Banking & Brokerage - 0.2% | ||||||||
68 | Houlihan Lokey, Inc. | 6,790 | ||||||
290 | Raymond James Financial, Inc. | 31,920 | ||||||
38,710 | ||||||||
IT Consulting & Other Services - 0.1% | ||||||||
176 | Amdocs Ltd. ADR (b) | 16,481 | ||||||
Life & Health Insurance - 0.4% | ||||||||
821 | Aflac, Inc. | 59,391 | ||||||
129 | Globe Life, Inc. | 14,470 | ||||||
51 | Primerica, Inc. | 10,848 | ||||||
84,709 |
The accompanying notes are an integral part of these financial statements.
65
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Life Sciences Tools & Services - 3.0% | ||||||||
432 | Agilent Technologies, Inc. | $ | 52,605 | |||||
1,004 | Danaher Corp. | 256,080 | ||||||
574 | Thermo Fisher Scientific, Inc. | 314,931 | ||||||
109 | West Pharmaceutical Services, Inc. | 40,116 | ||||||
663,732 | ||||||||
Managed Health Care - 4.2% | ||||||||
353 | Elevance Health, Inc. | 166,485 | ||||||
184 | Humana, Inc. | 84,057 | ||||||
1,387 | UnitedHealth Group, Inc. | 702,335 | ||||||
952,877 | ||||||||
Metal, Glass & Plastic Containers - 0.1% | ||||||||
452 | Ball Corp. | 26,528 | ||||||
Multi-Utilities - 0.8% | ||||||||
389 | Ameren Corp. | 33,326 | ||||||
419 | CMS Energy Corp. | 25,588 | ||||||
469 | Sempra Energy | 69,890 | ||||||
470 | WEC Energy Group, Inc. | 42,234 | ||||||
171,038 | ||||||||
Office Services & Supplies - 0.0% (a) | ||||||||
51 | MSA Safety, Inc. | 8,466 | ||||||
Oil & Gas Exploration & Production - 1.0% | ||||||||
1,814 | ConocoPhillips | 213,544 | ||||||
9 | Texas Pacific Land Corp. | 13,557 | ||||||
227,101 | ||||||||
Other Specialty Retail - 0.2% | ||||||||
82 | Dick’s Sporting Goods, Inc. | 11,562 | ||||||
161 | Tractor Supply Co. | 36,062 | ||||||
47,624 | ||||||||
Packaged Foods & Meats - 1.4% | ||||||||
279 | Flowers Foods, Inc. | 6,894 | ||||||
218 | Hershey Co. | 50,426 | ||||||
417 | Hormel Foods Corp. | 17,047 | ||||||
146 | J.M. Smucker Co. | 21,995 | ||||||
208 | Lamb Weston Holdings, Inc. | 21,555 | ||||||
28 | Lancaster Colony Corp. | 5,394 | ||||||
371 | McCormick & Co., Inc. | 33,197 | ||||||
2,026 | Mondelez International, Inc. - Class A | 150,187 | ||||||
306,695 | ||||||||
Paper & Plastic Packaging Products & Materials - 0.1% | ||||||||
115 | Avery Dennison Corp. | 21,161 |
The accompanying notes are an integral part of these financial statements.
66
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Pharmaceuticals - 10.0% | ||||||||
3,130 | Bristol-Myers Squibb Co. | $ | 194,655 | |||||
1,264 | Eli Lilly & Co. | 574,551 | ||||||
3,875 | Johnson & Johnson | 649,179 | ||||||
3,771 | Merck & Co., Inc. | 402,177 | ||||||
8,417 | Pfizer, Inc. | 303,517 | ||||||
630 | Zoetis, Inc. | 118,497 | ||||||
2,242,576 | ||||||||
Property & Casualty Insurance - 0.8% | ||||||||
385 | Allstate Corp. | 43,382 | ||||||
224 | Cincinnati Financial Corp. | 24,098 | ||||||
34 | Erie Indemnity Co. - Class A | 7,547 | ||||||
32 | Kinsale Capital Group, Inc. | 11,924 | ||||||
83 | Selective Insurance Group, Inc. | 8,565 | ||||||
343 | Travelers Cos., Inc. | 59,205 | ||||||
290 | W.R. Berkley Corp. | 17,890 | ||||||
172,611 | ||||||||
Rail Transportation - 1.7% | ||||||||
3,025 | CSX Corp. | 100,793 | ||||||
340 | Norfolk Southern Corp. | 79,421 | ||||||
897 | Union Pacific Corp. | 208,122 | ||||||
388,336 | ||||||||
Regional Banks - 0.1% | ||||||||
163 | Commerce Bancshares, Inc. | 8,668 | ||||||
83 | Cullen/Frost Bankers, Inc. | 9,012 | ||||||
196 | First Financial Bankshares, Inc. | 6,388 | ||||||
24,068 | ||||||||
Renewable Electricity - 0.0% (a) | ||||||||
119 | NextEra Energy Partners LP | 6,480 | ||||||
Research & Consulting Services - 0.1% | ||||||||
194 | Booz Allen Hamilton Holding Corp. | 23,490 | ||||||
Restaurants - 2.5% | ||||||||
50 | Domino’s Pizza, Inc. | 19,837 | ||||||
1,089 | McDonald’s Corp. | 319,295 | ||||||
1,680 | Starbucks Corp. | 170,638 | ||||||
418 | Yum! Brands, Inc. | 57,546 | ||||||
567,316 | ||||||||
Semiconductor Materials & Equipment - 2.0% | ||||||||
1,254 | Applied Materials, Inc. | 190,094 | ||||||
205 | KLA Corp. | 105,360 | ||||||
199 | Lam Research Corp. | 142,980 | ||||||
438,434 |
The accompanying notes are an integral part of these financial statements.
67
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Semiconductors - 5.8% | ||||||||
752 | Analog Devices, Inc. | $ | 150,047 | |||||
608 | Broadcom, Inc. | 546,379 | ||||||
801 | Microchip Technology, Inc. | 75,246 | ||||||
67 | Monolithic Power Systems, Inc. | 37,486 | ||||||
1,662 | Qualcomm, Inc. | 219,667 | ||||||
228 | Skyworks Solutions, Inc. | 26,076 | ||||||
1,352 | Texas Instruments, Inc. | 243,360 | ||||||
64 | Universal Display Corp. | 9,336 | ||||||
1,307,597 | ||||||||
Soft Drinks & Non-alcoholic Beverages - 1.7% | ||||||||
2,052 | PepsiCo, Inc. | 384,668 | ||||||
Specialized Consumer Services - 0.1% | ||||||||
213 | Service Corp. International | 14,196 | ||||||
Specialty Chemicals - 1.1% | ||||||||
68 | Ashland, Inc. | 6,212 | ||||||
376 | Ecolab, Inc. | 68,861 | ||||||
350 | PPG Industries, Inc. | 50,365 | ||||||
181 | RPM International, Inc. | 18,699 | ||||||
352 | Sherwin-Williams Co. | 97,328 | ||||||
241,465 | ||||||||
Systems Software - 6.0% | ||||||||
83 | Dolby Laboratories, Inc. - Class A | 7,355 | ||||||
3,166 | Microsoft Corp. | 1,063,523 | ||||||
2,309 | Oracle Corp. | 270,684 | ||||||
1,341,562 | ||||||||
Technology Distributors - 0.2% | ||||||||
201 | CDW Corp. | 37,601 | ||||||
Technology Hardware, Storage & Peripherals - 5.2% | ||||||||
5,863 | Apple, Inc. | 1,151,786 | ||||||
309 | NetApp, Inc. | 24,105 | ||||||
1,175,891 | ||||||||
Trading Companies & Distributors - 0.5% | ||||||||
833 | Fastenal Co. | 48,822 | ||||||
48 | Watsco, Inc. | 18,153 | ||||||
65 | W.W. Grainger, Inc. | 48,002 | ||||||
114,977 | ||||||||
Transaction & Payment Processing Services - 4.8% | ||||||||
101 | Jack Henry & Associates, Inc. | 16,925 | ||||||
1,252 | Mastercard, Inc. - Class A | 493,639 | ||||||
2,402 | Visa, Inc. - Class A | 571,027 | ||||||
1,081,591 |
The accompanying notes are an integral part of these financial statements.
68
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Water Utilities - 0.3% | ||||||||
290 | American Water Works Co., Inc. | $ | 42,755 | |||||
341 | Essential Utilities, Inc. | 14,421 | ||||||
57,176 | ||||||||
TOTAL COMMON STOCKS (Cost $20,136,439) | 21,607,127 | |||||||
REAL ESTATE INVESTMENT TRUSTS - 3.2% | ||||||||
Data Center REITs - 0.8% | ||||||||
434 | Digital Realty Trust, Inc. | 54,085 | ||||||
138 | Equinix, Inc. | 111,769 | ||||||
165,854 | ||||||||
Industrial REITs - 0.9% | ||||||||
65 | EastGroup Properties, Inc. | 11,517 | ||||||
192 | First Industrial Realty Trust, Inc. | 9,926 | ||||||
1,374 | Prologis, Inc. | 171,407 | ||||||
279 | Rexford Industrial Realty, Inc. | 15,370 | ||||||
208,220 | ||||||||
Multi-Family Residential REITs - 0.1% | ||||||||
172 | Mid-America Apartment Communities, Inc. | 25,742 | ||||||
Retail REITs - 0.0% (a) | ||||||||
128 | Agree Realty Corp. | 8,292 | ||||||
Self-Storage REITs - 0.3% | ||||||||
323 | CubeSmart | 14,005 | ||||||
311 | Extra Space Storage, Inc. | 43,406 | ||||||
117 | National Storage Affiliates Trust | 3,953 | ||||||
61,364 | ||||||||
Single-Family Residential REITs - 0.2% | ||||||||
245 | Equity LifeStyle Properties, Inc. | 17,439 | ||||||
177 | Sun Communities, Inc. | 23,063 | ||||||
40,502 | ||||||||
Telecom Tower REITs - 0.9% | ||||||||
693 | American Tower Corp. | 131,885 | ||||||
645 | Crown Castle, Inc. | 69,847 | ||||||
201,732 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $706,466) | 711,706 | |||||||
MONEY MARKET FUNDS - 0.4% | ||||||||
82,776 | First American Government Obligations Fund - Class X, 5.14% (b) | 82,776 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $82,776) | 82,776 | |||||||
TOTAL INVESTMENTS (Cost $20,925,681) - 99.9% | $ | 22,401,609 | ||||||
Other Assets in Excess of Liabilities - 0.1% | 13,752 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 22,415,361 |
The accompanying notes are an integral part of these financial statements.
69
Strive 1000 Dividend Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
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) | 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.
70
Strive 1000 Growth ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 97.7% | ||||||||
Advertising - 0.1% | ||||||||
38 | Interpublic Group of Cos., Inc. | $ | 1,301 | |||||
432 | Trade Desk, Inc. - Class A (a) | 39,424 | ||||||
40,725 | ||||||||
Aerospace & Defense - 0.9% | ||||||||
67 | Axon Enterprise, Inc. (a) | 12,457 | ||||||
72 | BWX Technologies, Inc. | 4,968 | ||||||
28 | Curtiss-Wright Corp. | 5,358 | ||||||
101 | General Dynamics Corp. | 22,582 | ||||||
72 | HEICO Corp. - Class A | 10,105 | ||||||
41 | HEICO Corp. | 7,215 | ||||||
3 | Hexcel Corp. | 212 | ||||||
165 | Howmet Aerospace, Inc. | 8,438 | ||||||
33 | Huntington Ingalls Industries, Inc. | 7,579 | ||||||
108 | L3Harris Technologies, Inc. | 20,465 | ||||||
153 | Lockheed Martin Corp. | 68,295 | ||||||
115 | Northrop Grumman Corp. | 51,175 | ||||||
72 | Textron, Inc. | 5,599 | ||||||
44 | TransDigm Group, Inc. | 39,588 | ||||||
36 | Woodward, Inc. | 4,334 | ||||||
268,370 | ||||||||
Agricultural & Farm Machinery - 0.4% | ||||||||
4 | AGCO Corp. | 532 | ||||||
270 | Deere & Co. | 115,992 | ||||||
93 | Toro Co. | 9,453 | ||||||
125,977 | ||||||||
Agricultural Products & Services - 0.0% (c) | ||||||||
56 | Archer-Daniels-Midland Co. | 4,759 | ||||||
144 | Darling Ingredients, Inc. (a) | 9,973 | ||||||
14,732 | ||||||||
Air Freight & Logistics - 0.2% | ||||||||
19 | CH Robinson Worldwide, Inc. | 1,903 | ||||||
126 | Expeditors International of Washington, Inc. | 16,040 | ||||||
21 | GXO Logistics, Inc. (a) | 1,408 | ||||||
263 | United Parcel Service, Inc. - Class B | 49,215 | ||||||
68,566 | ||||||||
Alternative Carriers - 0.0% (c) | ||||||||
109 | Iridium Communications, Inc. | 5,728 | ||||||
Apparel Retail - 0.5% | ||||||||
57 | Burlington Stores, Inc. (a) | 10,124 | ||||||
326 | Ross Stores, Inc. | 37,373 | ||||||
1,148 | TJX Cos., Inc. | 99,336 | ||||||
146,833 | ||||||||
Apparel, Accessories & Luxury Goods - 0.2% | ||||||||
18 | Columbia Sportswear Co. | 1,415 |
The accompanying notes are an integral part of these financial statements.
71
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
114 | Lululemon Athletica, Inc. (a) | $ | 43,152 | |||||
144 | Under Armour, Inc. - Class C (a) | 1,068 | ||||||
126 | Under Armour, Inc. - Class A (a) | 1,016 | ||||||
46,651 | ||||||||
Application Software - 4.3% | ||||||||
108 | ACI Worldwide, Inc. (a) | 2,505 | ||||||
456 | Adobe, Inc. (a) | 249,054 | ||||||
90 | ANSYS, Inc. (a) | 30,789 | ||||||
180 | AppLovin Corp. - Class A (a) | 5,652 | ||||||
18 | Aspen Technology, Inc. (a) | 3,213 | ||||||
144 | Atlassian Corp. - Class A (a) | 26,199 | ||||||
216 | Autodesk, Inc. (a) | 45,790 | ||||||
216 | Bentley Systems, Inc. - Class B | 11,638 | ||||||
100 | BILL Holdings, Inc. (a) | 12,534 | ||||||
144 | Black Knight, Inc. (a) | 10,126 | ||||||
270 | Cadence Design Systems, Inc. (a) | 63,183 | ||||||
162 | CCC Intelligent Solutions Holdings, Inc. (a) | 1,785 | ||||||
156 | Confluent, Inc. - Class A (a) | 5,388 | ||||||
252 | Datadog, Inc. - Class A (a) | 29,413 | ||||||
198 | DocuSign, Inc. (a) | 10,656 | ||||||
270 | Dropbox, Inc. - Class A (a) | 7,277 | ||||||
198 | Dynatrace, Inc. (a) | 10,829 | ||||||
72 | Elastic N.V. ADR (a)(b) | 4,784 | ||||||
24 | Fair Isaac Corp. (a) | 20,111 | ||||||
72 | Five9, Inc. (a) | 6,318 | ||||||
18 | Guidewire Software, Inc. (a) | 1,527 | ||||||
129 | HashiCorp, Inc. - Class A (a) | 3,820 | ||||||
45 | HubSpot, Inc. (a) | 26,125 | ||||||
270 | Intuit, Inc. | 138,159 | ||||||
54 | Manhattan Associates, Inc. (a) | 10,293 | ||||||
216 | Nutanix, Inc. - Class A (a) | 6,523 | ||||||
1,752 | Palantir Technologies, Inc. - Class A (a) | 34,760 | ||||||
36 | Pegasystems, Inc. | 1,899 | ||||||
72 | Procore Technologies, Inc. (a) | 5,461 | ||||||
108 | PTC, Inc. (a) | 15,747 | ||||||
90 | RingCentral, Inc. - Class A (a) | 3,722 | ||||||
95 | Roper Technologies, Inc. | 46,840 | ||||||
963 | Salesforce, Inc. (a) | 216,685 | ||||||
72 | Samsara, Inc. - Class A (a) | 2,012 | ||||||
126 | Smartsheet, Inc. - Class A (a) | 5,594 | ||||||
162 | Splunk, Inc. (a) | 17,549 | ||||||
150 | Synopsys, Inc. (a) | 67,770 | ||||||
41 | Tyler Technologies, Inc. (a) | 16,262 | ||||||
252 | Unity Software, Inc. (a) | 11,552 | ||||||
198 | Workday, Inc. - Class A (a) | 46,952 | ||||||
216 | Zoom Video Communications, Inc. - Class A (a) | 15,844 | ||||||
1,252,340 |
The accompanying notes are an integral part of these financial statements.
72
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Asset Management & Custody Banks - 0.6% | ||||||||
56 | Ameriprise Financial, Inc. | $ | 19,513 | |||||
158 | Ares Management Corp. - Class A | 15,677 | ||||||
75 | BlackRock, Inc. | 55,414 | ||||||
471 | Blackstone, Inc. | 49,356 | ||||||
378 | Blue Owl Capital, Inc. | 4,657 | ||||||
417 | KKR & Co., Inc. | 24,761 | ||||||
72 | SEI Investments Co. | 4,535 | ||||||
36 | TPG, Inc. | 1,059 | ||||||
174,972 | ||||||||
Automobile Manufacturers - 2.6% | ||||||||
454 | Lucid Group, Inc. (a) | 3,455 | ||||||
705 | Rivian Automotive, Inc. - Class A (a) | 19,486 | ||||||
2,751 | Tesla, Inc. (a) | 735,700 | ||||||
758,641 | ||||||||
Automotive Parts & Equipment - 0.1% | ||||||||
145 | Aptiv PLC ADR (a)(b) | 15,876 | ||||||
144 | Gentex Corp. | 4,836 | ||||||
216 | QuantumScape Corp. (a)(d) | 2,875 | ||||||
23,587 | ||||||||
Automotive Retail - 0.4% | ||||||||
1 | Advance Auto Parts, Inc. | 74 | ||||||
18 | AutoZone, Inc. (a) | 44,671 | ||||||
7 | Murphy USA, Inc. | 2,149 | ||||||
60 | O’Reilly Automotive, Inc. (a) | 55,547 | ||||||
55 | Valvoline, Inc. | 2,088 | ||||||
104,529 | ||||||||
Biotechnology - 2.2% | ||||||||
1,083 | AbbVie, Inc. | 161,995 | ||||||
126 | Alnylam Pharmaceuticals, Inc. (a) | 24,620 | ||||||
349 | Amgen, Inc. | 81,718 | ||||||
90 | Apellis Pharmaceuticals, Inc. (a) | 2,318 | ||||||
108 | Arrowhead Pharmaceuticals, Inc. (a) | 3,728 | ||||||
44 | Biogen, Inc. (a) | 11,888 | ||||||
180 | BioMarin Pharmaceutical, Inc. (a) | 15,827 | ||||||
72 | CRISPR Therapeutics AG ADR (a)(b) | 4,128 | ||||||
90 | Denali Therapeutics, Inc. (a) | 2,559 | ||||||
180 | Exact Sciences Corp. (a) | 17,557 | ||||||
306 | Exelixis, Inc. (a) | 6,031 | ||||||
306 | Gilead Sciences, Inc. | 23,299 | ||||||
144 | Halozyme Therapeutics, Inc. (a) | 6,186 | ||||||
234 | Horizon Therapeutics PLC ADR (a)(b) | 23,463 | ||||||
180 | Incyte Corp. (a) | 11,470 | ||||||
39 | Ionis Pharmaceuticals, Inc. (a) | 1,616 | ||||||
326 | Moderna, Inc. (a) | 38,357 | ||||||
166 | Natera, Inc. (a) | 7,507 | ||||||
90 | Neurocrine Biosciences, Inc. (a) | 9,170 | ||||||
103 | Regeneron Pharmaceuticals, Inc. (a) | 76,417 |
The accompanying notes are an integral part of these financial statements.
73
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
374 | Roivant Sciences Ltd. ADR (a)(b) | $ | 4,481 | |||||
18 | Sarepta Therapeutics, Inc. (a) | 1,951 | ||||||
86 | Seagen, Inc. (a) | 16,493 | ||||||
19 | United Therapeutics Corp. (a) | 4,612 | ||||||
254 | Vertex Pharmaceuticals, Inc. (a) | 89,494 | ||||||
646,885 | ||||||||
Brewers - 0.0% (c) | ||||||||
8 | Boston Beer Co., Inc. - Class A (a) | 2,972 | ||||||
Broadline Retail - 4.2% | ||||||||
8,933 | Amazon.com, Inc. (a) | 1,194,163 | ||||||
270 | eBay, Inc. | 12,018 | ||||||
126 | Etsy, Inc. (a) | 12,808 | ||||||
1,218,989 | ||||||||
Building Products - 0.5% | ||||||||
72 | A.O. Smith Corp. | 5,229 | ||||||
72 | Advanced Drainage Systems, Inc. | 8,783 | ||||||
72 | Allegion PLC ADR (b) | 8,414 | ||||||
36 | Armstrong World Industries, Inc. | 2,785 | ||||||
45 | Carlisle Cos., Inc. | 12,474 | ||||||
541 | Carrier Global Corp. | 32,217 | ||||||
18 | Fortune Brands Innovations, Inc. | 1,279 | ||||||
488 | Johnson Controls International PLC ADR (b) | 33,940 | ||||||
18 | Lennox International, Inc. | 6,614 | ||||||
56 | Masco Corp. | 3,398 | ||||||
164 | Trane Technologies PLC ADR (b) | 32,708 | ||||||
108 | Trex Co., Inc. (a) | 7,467 | ||||||
155,308 | ||||||||
Cable & Satellite - 0.1% | ||||||||
55 | Charter Communications, Inc. - Class A (a) | 22,285 | ||||||
18 | Liberty Broadband Corp. - Class A (a) | 1,599 | ||||||
126 | Liberty Broadband Corp. - Class C (a) | 11,230 | ||||||
270 | Sirius XM Holdings, Inc. | 1,377 | ||||||
36,491 | ||||||||
Cargo Ground Transportation - 0.3% | ||||||||
93 | JB Hunt Transport Services, Inc. | 18,966 | ||||||
41 | Landstar System, Inc. | 8,347 | ||||||
98 | Old Dominion Freight Line, Inc. | 41,110 | ||||||
33 | Saia, Inc. (a) | 13,964 | ||||||
58 | U-Haul Holding Co. | 3,318 | ||||||
85,705 | ||||||||
Casinos & Gaming - 0.1% | ||||||||
22 | Boyd Gaming Corp. | 1,503 | ||||||
57 | Caesars Entertainment, Inc. (a) | 3,364 | ||||||
72 | Churchill Downs, Inc. | 8,341 | ||||||
360 | DraftKings, Inc. - Class A (a) | 11,441 | ||||||
90 | Light & Wonder, Inc. (a) | 6,327 |
The accompanying notes are an integral part of these financial statements.
74
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
38 | MGM Resorts International | $ | 1,929 | |||||
32,905 | ||||||||
Commodity Chemicals - 0.0% (c) | ||||||||
72 | Olin Corp. | 4,153 | ||||||
Communications Equipment - 0.6% | ||||||||
234 | Arista Networks, Inc. (a) | 36,291 | ||||||
144 | Ciena Corp. (a) | 6,077 | ||||||
1,260 | Cisco Systems, Inc. | 65,570 | ||||||
37 | F5, Inc. (a) | 5,855 | ||||||
128 | Juniper Networks, Inc. | 3,558 | ||||||
54 | Lumentum Holdings, Inc. (a) | 2,827 | ||||||
153 | Motorola Solutions, Inc. | 43,854 | ||||||
164,032 | ||||||||
Construction & Engineering - 0.2% | ||||||||
90 | AECOM | 7,830 | ||||||
40 | EMCOR Group, Inc. | 8,602 | ||||||
20 | MasTec, Inc. (a) | 2,355 | ||||||
144 | Quanta Services, Inc. | 29,033 | ||||||
19 | Valmont Industries, Inc. | 5,030 | ||||||
216 | WillScot Mobile Mini Holdings Corp. (a) | 10,357 | ||||||
63,207 | ||||||||
Construction Machinery & Heavy Transportation Equipment - 0.3% | ||||||||
307 | Caterpillar, Inc. | 81,407 | ||||||
38 | Cummins, Inc. | 9,910 | ||||||
56 | Westinghouse Air Brake Technologies Corp. | 6,633 | ||||||
97,950 | ||||||||
Construction Materials - 0.2% | ||||||||
42 | Eagle Materials, Inc. | 7,744 | ||||||
61 | Martin Marietta Materials, Inc. | 27,234 | ||||||
126 | Vulcan Materials Co. | 27,783 | ||||||
62,761 | ||||||||
Consumer Electronics - 0.0% (c) | ||||||||
90 | Garmin Ltd. ADR (b) | 9,530 | ||||||
Consumer Finance - 0.1% | ||||||||
199 | American Express Co. | 33,607 | ||||||
3 | Credit Acceptance Corp. (a) | 1,670 | ||||||
35,277 | ||||||||
Consumer Staples Merchandise Retail - 1.5% | ||||||||
72 | BJ’s Wholesale Club Holdings, Inc. (a) | 4,774 | ||||||
441 | Costco Wholesale Corp. | 247,255 | ||||||
218 | Dollar General Corp. | 36,811 | ||||||
182 | Dollar Tree, Inc. (a) | 28,088 | ||||||
183 | Target Corp. | 24,974 | ||||||
595 | Walmart, Inc. | 95,117 | ||||||
437,019 |
The accompanying notes are an integral part of these financial statements.
75
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Copper - 0.1% | ||||||||
612 | Freeport-McMoRan, Inc. | $ | 27,326 | |||||
Data Processing & Outsourced Services - 0.1% | ||||||||
108 | Broadridge Financial Solutions, Inc. | 18,135 | ||||||
18 | Concentrix Corp. | 1,498 | ||||||
162 | Genpact Ltd. ADR (b) | 5,847 | ||||||
37 | Maximus, Inc. | 3,099 | ||||||
129 | SS&C Technologies Holdings, Inc. | 7,514 | ||||||
36,093 | ||||||||
Distillers & Vintners - 0.2% | ||||||||
39 | Brown-Forman Corp. - Class A | 2,804 | ||||||
306 | Brown-Forman Corp. - Class B | 21,604 | ||||||
123 | Constellation Brands, Inc. - Class A | 33,554 | ||||||
57,962 | ||||||||
Distributors - 0.1% | ||||||||
92 | Genuine Parts Co. | 14,326 | ||||||
91 | LKQ Corp. | 4,986 | ||||||
36 | Pool Corp. | 13,851 | ||||||
33,163 | ||||||||
Diversified Financial Services - 0.0% (c) | ||||||||
184 | Apollo Global Management, Inc. | 15,036 | ||||||
Diversified Support Services - 0.3% | ||||||||
84 | Cintas Corp. | 42,171 | ||||||
432 | Copart, Inc. (a) | 38,184 | ||||||
80,355 | ||||||||
Education Services - 0.0% (c) | ||||||||
36 | Bright Horizons Family Solutions, Inc. (a) | 3,493 | ||||||
Electric Utilities - 0.6% | ||||||||
57 | Alliant Energy Corp. | 3,063 | ||||||
324 | Constellation Energy Corp. | 31,315 | ||||||
73 | Eversource Energy | 5,280 | ||||||
18 | IDACORP, Inc. | 1,851 | ||||||
1,653 | NextEra Energy, Inc. | 121,165 | ||||||
18 | PNM Resources, Inc. | 807 | ||||||
144 | Southern Co. | 10,417 | ||||||
147 | Xcel Energy, Inc. | 9,221 | ||||||
183,119 | ||||||||
Electrical Components & Equipment - 0.7% | ||||||||
18 | Acuity Brands, Inc. | 2,974 | ||||||
227 | AMETEK, Inc. | 36,002 | ||||||
180 | ChargePoint Holdings, Inc. (a)(d) | 1,559 | ||||||
231 | Eaton Corp. PLC ADR (b) | 47,429 | ||||||
343 | Emerson Electric Co. | 31,333 | ||||||
60 | Generac Holdings, Inc. (a) | 9,222 |
The accompanying notes are an integral part of these financial statements.
76
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
36 | Hubbell, Inc. | $ | 11,232 | |||||
76 | nVent Electric PLC ADR (b) | 4,019 | ||||||
576 | Plug Power, Inc. (a) | 7,557 | ||||||
110 | Rockwell Automation, Inc. | 36,992 | ||||||
54 | Sensata Technologies Holding PLC ADR (b) | 2,282 | ||||||
306 | Vertiv Holdings Co. | 7,959 | ||||||
198,560 | ||||||||
Electronic Components - 0.2% | ||||||||
594 | Amphenol Corp. - Class A | 52,456 | ||||||
40 | Coherent Corp. (a) | 1,894 | ||||||
3 | Corning, Inc. | 102 | ||||||
18 | Littelfuse, Inc. | 5,483 | ||||||
59,935 | ||||||||
Electronic Equipment & Instruments - 0.3% | ||||||||
127 | Cognex Corp. | 6,937 | ||||||
180 | Keysight Technologies, Inc. (a) | 28,994 | ||||||
108 | National Instruments Corp. | 6,372 | ||||||
45 | Teledyne Technologies, Inc. (a) | 17,304 | ||||||
252 | Trimble, Inc. (a) | 13,558 | ||||||
54 | Zebra Technologies Corp. - Class A (a) | 16,630 | ||||||
89,795 | ||||||||
Electronic Manufacturing Services - 0.1% | ||||||||
174 | TE Connectivity Ltd. ADR (b) | 24,967 | ||||||
Environmental & Facilities Services - 0.4% | ||||||||
58 | Clean Harbors, Inc. (a) | 9,643 | ||||||
180 | Republic Services, Inc. | 27,200 | ||||||
234 | Rollins, Inc. | 9,554 | ||||||
54 | Tetra Tech, Inc. | 9,137 | ||||||
396 | Waste Management, Inc. | 64,861 | ||||||
120,395 | ||||||||
Fertilizers & Agricultural Chemicals - 0.1% | ||||||||
562 | Corteva, Inc. | 31,714 | ||||||
90 | FMC Corp. | 8,661 | ||||||
40,375 | ||||||||
Financial Exchanges & Data - 1.3% | ||||||||
103 | Cboe Global Markets, Inc. | 14,387 | ||||||
55 | CME Group, Inc. | 10,943 | ||||||
144 | Coinbase Global, Inc. - Class A (a) | 14,200 | ||||||
36 | FactSet Research Systems, Inc. | 15,661 | ||||||
450 | Intercontinental Exchange, Inc. | 51,660 | ||||||
36 | MarketAxess Holdings, Inc. | 9,692 | ||||||
156 | Moody’s Corp. | 55,029 | ||||||
37 | Morningstar, Inc. | 8,528 | ||||||
76 | MSCI, Inc. | 41,654 | ||||||
400 | Nasdaq, Inc. | 20,196 | ||||||
324 | S&P Global, Inc. | 127,821 |
The accompanying notes are an integral part of these financial statements.
77
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
108 | Tradeweb Markets, Inc. - Class A | $ | 8,833 | |||||
378,604 | ||||||||
Food Distributors - 0.1% | ||||||||
360 | Sysco Corp. | 27,472 | ||||||
Food Retail - 0.0% (c) | ||||||||
18 | Casey’s General Stores, Inc. | 4,548 | ||||||
Footwear - 0.6% | ||||||||
55 | Crocs, Inc. (a) | 5,959 | ||||||
25 | Deckers Outdoor Corp. (a) | 13,592 | ||||||
1,225 | NIKE, Inc. - Class B | 135,228 | ||||||
162 | On Holding AG - Class A ADR (a)(b) | 5,832 | ||||||
40 | Skechers USA, Inc. - Class A (a) | 2,223 | ||||||
162,834 | ||||||||
Gas Utilities - 0.0% (c) | ||||||||
36 | Atmos Energy Corp. | 4,382 | ||||||
Gold - 0.0% (c) | ||||||||
54 | Newmont Corp. | 2,318 | ||||||
88 | Royal Gold, Inc. | 10,572 | ||||||
12,890 | ||||||||
Health Care Distributors - 0.0% (c) | ||||||||
72 | Henry Schein, Inc. (a) | 5,673 | ||||||
Health Care Equipment - 3.0% | ||||||||
1,713 | Abbott Laboratories | 190,708 | ||||||
4 | ABIOMED, Inc. (a) | - | ||||||
219 | Baxter International, Inc. | 9,905 | ||||||
181 | Becton Dickinson & Co. | 50,430 | ||||||
1,422 | Boston Scientific Corp. (a) | 73,731 | ||||||
379 | Dexcom, Inc. (a) | 47,208 | ||||||
612 | Edwards Lifesciences Corp. (a) | 50,227 | ||||||
126 | Envista Holdings Corp. (a) | 4,336 | ||||||
290 | GE HealthCare Technologies, Inc. | 22,620 | ||||||
72 | Globus Medical, Inc. - Class A (a) | 4,339 | ||||||
216 | Hologic, Inc. (a) | 17,155 | ||||||
81 | IDEXX Laboratories, Inc. (a) | 44,933 | ||||||
27 | Inspire Medical Systems, Inc. (a) | 7,771 | ||||||
72 | Insulet Corp. (a) | 19,926 | ||||||
54 | Integra LifeSciences Holdings Corp. (a) | 2,455 | ||||||
348 | Intuitive Surgical, Inc. (a) | 112,891 | ||||||
54 | Masimo Corp. (a) | 6,604 | ||||||
73 | Medtronic PLC ADR (b) | 6,406 | ||||||
90 | Novocure Ltd. ADR (a)(b) | 2,938 | ||||||
36 | Penumbra, Inc. (a) | 10,921 | ||||||
144 | ResMed, Inc. | 32,018 |
The accompanying notes are an integral part of these financial statements.
78
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
36 | Shockwave Medical, Inc. (a) | $ | 9,382 | |||||
109 | STERIS PLC ADR (b) | 24,585 | ||||||
337 | Stryker Corp. | 95,509 | ||||||
41 | Teleflex, Inc. | 10,298 | ||||||
75 | Zimmer Biomet Holdings, Inc. | 10,361 | ||||||
867,657 | ||||||||
Health Care Facilities - 0.1% | ||||||||
54 | Acadia Healthcare Co., Inc. (a) | 4,268 | ||||||
81 | HCA Healthcare, Inc. | 22,098 | ||||||
26,366 | ||||||||
Health Care Services - 0.2% | ||||||||
198 | agilon health, Inc. (a) | 3,792 | ||||||
19 | Chemed Corp. | 9,901 | ||||||
108 | Cigna Group | 31,871 | ||||||
90 | Guardant Health, Inc. (a) | 3,512 | ||||||
13 | Laboratory Corp. of America Holdings | 2,781 | ||||||
144 | Option Care Health, Inc. (a) | 4,864 | ||||||
40 | Quest Diagnostics, Inc. | 5,408 | ||||||
72 | R1 RCM, Inc. (a) | 1,244 | ||||||
63,373 | ||||||||
Health Care Supplies - 0.2% | ||||||||
72 | Align Technology, Inc. (a) | 27,208 | ||||||
48 | Cooper Cos., Inc. | 18,780 | ||||||
36 | DENTSPLY SIRONA, Inc. | 1,495 | ||||||
18 | ICU Medical, Inc. (a) | 3,207 | ||||||
50,690 | ||||||||
Health Care Technology - 0.1% | ||||||||
90 | Doximity, Inc. - Class A (a) | 3,216 | ||||||
90 | Teladoc Health, Inc. (a) | 2,679 | ||||||
144 | Veeva Systems, Inc. - Class A (a) | 29,408 | ||||||
35,303 | ||||||||
Home Furnishings - 0.0% (c) | ||||||||
144 | Tempur Sealy International, Inc. | 6,427 | ||||||
Home Improvement Retail - 1.6% | ||||||||
108 | Floor & Decor Holdings, Inc. - Class A (a) | 12,404 | ||||||
991 | Home Depot, Inc. | 330,835 | ||||||
474 | Lowe’s Cos., Inc. | 111,044 | ||||||
454,283 | ||||||||
Homebuilding - 0.1% | ||||||||
2 | NVR, Inc. (a) | 12,613 | ||||||
19 | TopBuild Corp. (a) | 5,205 | ||||||
17,818 | ||||||||
Homefurnishing Retail - 0.0% (c) | ||||||||
18 | RH (a) | 6,987 | ||||||
1 | Wayfair, Inc. - Class A (a) | 78 | ||||||
7,065 |
The accompanying notes are an integral part of these financial statements.
79
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Hotels, Resorts & Cruise Lines - 0.9% | ||||||||
374 | Airbnb, Inc. - Class A (a) | $ | 56,919 | |||||
35 | Booking Holdings, Inc. (a) | 103,978 | ||||||
36 | Choice Hotels International, Inc. | 4,707 | ||||||
259 | Hilton Worldwide Holdings, Inc. | 40,272 | ||||||
272 | Marriott International, Inc. - Class A | 54,892 | ||||||
36 | Wyndham Hotels & Resorts, Inc. | 2,805 | ||||||
263,573 | ||||||||
Household Products - 1.4% | ||||||||
234 | Church & Dwight Co., Inc. | 22,387 | ||||||
72 | Clorox Co. | 10,907 | ||||||
612 | Colgate-Palmolive Co. | 46,671 | ||||||
189 | Kimberly-Clark Corp. | 24,400 | ||||||
1,964 | Procter & Gamble Co. | 306,973 | ||||||
18 | Reynolds Consumer Products, Inc. | 498 | ||||||
411,836 | ||||||||
Human Resource & Employment Services - 0.6% | ||||||||
414 | Automatic Data Processing, Inc. | 102,366 | ||||||
144 | Ceridian HCM Holding, Inc. (a) | 10,197 | ||||||
307 | Paychex, Inc. | 38,519 | ||||||
54 | Paycom Software, Inc. | 19,913 | ||||||
36 | Paylocity Holding Corp. (a) | 8,167 | ||||||
18 | Robert Half, Inc. | 1,335 | ||||||
36 | TriNet Group, Inc. (a) | 3,788 | ||||||
184,285 | ||||||||
Independent Power Producers & Energy Traders - 0.0% (c) | ||||||||
201 | AES Corp. | 4,348 | ||||||
127 | Vistra Corp. | 3,564 | ||||||
7,912 | ||||||||
Industrial Conglomerates - 0.4% | ||||||||
128 | General Electric Co. | 14,623 | ||||||
495 | Honeywell International, Inc. | 96,094 | ||||||
110,717 | ||||||||
Industrial Gases - 0.2% | ||||||||
217 | Air Products and Chemicals, Inc. | 66,257 | ||||||
Industrial Machinery & Supplies & Components - 1.0% | ||||||||
36 | Chart Industries, Inc. (a) | 6,558 | ||||||
3 | Crane Co. | 281 | ||||||
3 | Crane NXT Co. | 177 | ||||||
90 | Donaldson Co., Inc. | 5,655 | ||||||
108 | Dover Corp. | 15,765 | ||||||
18 | Flowserve Corp. | 680 | ||||||
144 | Fortive Corp. | 11,282 | ||||||
162 | Graco, Inc. | 12,851 | ||||||
72 | IDEX Corp. | 16,258 | ||||||
222 | Illinois Tool Works, Inc. | 58,457 |
The accompanying notes are an integral part of these financial statements.
80
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
360 | Ingersoll Rand, Inc. | $ | 23,497 | |||||
36 | ITT, Inc. | 3,586 | ||||||
50 | Lincoln Electric Holdings, Inc. | 10,036 | ||||||
36 | Middleby Corp. (a) | 5,467 | ||||||
54 | Nordson Corp. | 13,587 | ||||||
325 | Otis Worldwide Corp. | 29,562 | ||||||
84 | Parker-Hannifin Corp. | 34,441 | ||||||
72 | Pentair PLC ADR (b) | 5,004 | ||||||
27 | RBC Bearings, Inc. (a) | 6,103 | ||||||
13 | Snap-on, Inc. | 3,542 | ||||||
236 | Xylem, Inc. | 26,609 | ||||||
289,398 | ||||||||
Insurance Brokers - 0.8% | ||||||||
185 | Aon PLC - Class A ADR (b) | 58,923 | ||||||
198 | Arthur J. Gallagher & Co. | 42,530 | ||||||
234 | Brown & Brown, Inc. | 16,485 | ||||||
492 | Marsh & McLennan Cos., Inc. | 92,703 | ||||||
90 | Ryan Specialty Holdings, Inc. (a) | 3,901 | ||||||
108 | Willis Towers Watson PLC ADR (b) | 22,824 | ||||||
237,366 | ||||||||
Integrated Oil & Gas - 0.1% | ||||||||
93 | Chevron Corp. | 15,220 | ||||||
235 | Exxon Mobil Corp. | 25,201 | ||||||
40,421 | ||||||||
Interactive Home Entertainment - 0.5% | ||||||||
633 | Activision Blizzard, Inc. | 58,717 | ||||||
270 | Electronic Arts, Inc. | 36,815 | ||||||
108 | Playtika Holding Corp. (a) | 1,290 | ||||||
342 | Roblox Corp. - Class A (a) | 13,424 | ||||||
162 | Take-Two Interactive Software, Inc. (a) | 24,776 | ||||||
135,022 | ||||||||
Interactive Media & Services - 6.5% | ||||||||
5,913 | Alphabet, Inc. - Class A (a) | 784,773 | ||||||
5,040 | Alphabet, Inc. - Class C (a) | 670,874 | ||||||
90 | Bumble, Inc. - Class A (a) | 1,667 | ||||||
1,251 | Meta Platforms, Inc. - Class A (a) | 398,569 | ||||||
576 | Pinterest, Inc. - Class A (a) | 16,698 | ||||||
1,026 | Snap, Inc. - Class A (a) | 11,655 | ||||||
18 | Ziff Davis, Inc. (a) | 1,305 | ||||||
342 | ZoomInfo Technologies, Inc. (a) | 8,745 | ||||||
1,894,286 | ||||||||
Internet Services & Infrastructure - 0.6% | ||||||||
146 | Akamai Technologies, Inc. (a) | 13,797 | ||||||
252 | Cloudflare, Inc. - Class A (a) | 17,330 | ||||||
162 | GoDaddy, Inc. - Class A (a) | 12,489 | ||||||
66 | MongoDB, Inc. (a) | 27,944 | ||||||
144 | Okta, Inc. (a) | 11,068 |
The accompanying notes are an integral part of these financial statements.
81
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
270 | Snowflake, Inc. - Class A (a) | $ | 47,982 | |||||
218 | Twilio, Inc. - Class A (a) | 14,395 | ||||||
90 | VeriSign, Inc. (a) | 18,986 | ||||||
163,991 | ||||||||
Investment Banking & Brokerage - 0.5% | ||||||||
1,514 | Charles Schwab Corp. | 100,075 | ||||||
40 | Houlihan Lokey, Inc. | 3,994 | ||||||
78 | LPL Financial Holdings, Inc. | 17,890 | ||||||
148 | Raymond James Financial, Inc. | 16,290 | ||||||
138,249 | ||||||||
IT Consulting & Other Services - 0.9% | ||||||||
660 | Accenture PLC - Class A ADR (b) | 208,791 | ||||||
72 | Amdocs Ltd. ADR (b) | 6,742 | ||||||
74 | Cognizant Technology Solutions Corp. - Class A | 4,886 | ||||||
54 | EPAM Systems, Inc. (a) | 12,788 | ||||||
73 | Gartner, Inc. (a) | 25,812 | ||||||
36 | Globant S.A. ADR (a)(b) | 6,290 | ||||||
265,309 | ||||||||
Leisure Facilities - 0.1% | ||||||||
90 | Planet Fitness, Inc. - Class A (a) | 6,080 | ||||||
41 | Vail Resorts, Inc. | 9,656 | ||||||
15,736 | ||||||||
Leisure Products - 0.0% (c) | ||||||||
360 | Mattel, Inc. (a) | 7,668 | ||||||
18 | Polaris, Inc. | 2,445 | ||||||
90 | YETI Holdings, Inc. (a) | 3,834 | ||||||
13,947 | ||||||||
Life & Health Insurance - 0.0% (c) | ||||||||
94 | Aflac, Inc. | 6,800 | ||||||
36 | Globe Life, Inc. | 4,038 | ||||||
11 | Primerica, Inc. | 2,340 | ||||||
13,178 | ||||||||
Life Sciences Tools & Services - 2.3% | ||||||||
90 | 10X Genomics, Inc. - Class A (a) | 5,668 | ||||||
289 | Agilent Technologies, Inc. | 35,192 | ||||||
612 | Avantor, Inc. (a) | 12,589 | ||||||
19 | Bio-Rad Laboratories, Inc. - Class A (a) | 7,702 | ||||||
144 | Bio-Techne Corp. | 12,010 | ||||||
108 | Bruker Corp. | 7,422 | ||||||
54 | Charles River Laboratories International, Inc. (a) | 11,315 | ||||||
672 | Danaher Corp. | 171,400 | ||||||
13 | Fortrea Holdings, Inc. (a) | 415 | ||||||
80 | ICON PLC ADR (a)(b) | 20,113 | ||||||
156 | Illumina, Inc. (a) | 29,975 | ||||||
180 | IQVIA Holdings, Inc. (a) | 40,277 | ||||||
20 | Medpace Holdings, Inc. (a) | 5,063 | ||||||
21 | Mettler-Toledo International, Inc. (a) | 26,407 |
The accompanying notes are an integral part of these financial statements.
82
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
54 | Repligen Corp. (a) | $ | 9,264 | |||||
126 | Revvity, Inc. | 15,492 | ||||||
90 | Sotera Health Co. (a) | 1,708 | ||||||
384 | Thermo Fisher Scientific, Inc. | 210,685 | ||||||
55 | Waters Corp. (a) | 15,192 | ||||||
72 | West Pharmaceutical Services, Inc. | 26,499 | ||||||
664,388 | ||||||||
Managed Health Care - 2.0% | ||||||||
156 | Elevance Health, Inc. | 73,574 | ||||||
90 | HealthEquity, Inc. (a) | 6,115 | ||||||
80 | Humana, Inc. | 36,546 | ||||||
55 | Molina Healthcare, Inc. (a) | 16,747 | ||||||
902 | UnitedHealth Group, Inc. | 456,746 | ||||||
589,728 | ||||||||
Metal, Glass & Plastic Containers - 0.1% | ||||||||
66 | AptarGroup, Inc. | 8,016 | ||||||
234 | Ball Corp. | 13,733 | ||||||
22 | Crown Holdings, Inc. | 2,041 | ||||||
23,790 | ||||||||
Movies & Entertainment - 1.0% | ||||||||
4 | Atlanta Braves Holdings, Inc. - Class C (a) | 163 | ||||||
126 | Endeavor Group Holdings, Inc. - Class A (a) | 2,974 | ||||||
18 | Liberty Media Corp. - Liberty Formula One - Class A (a) | 1,157 | ||||||
128 | Liberty Media Corp. - Liberty Formula One - Class C (a) | 9,293 | ||||||
73 | Live Nation Entertainment, Inc. (a) | 6,406 | ||||||
436 | Netflix, Inc. (a) | 191,391 | ||||||
126 | Roku, Inc. (a) | 12,130 | ||||||
111 | Spotify Technology S.A. ADR (a)(b) | 16,585 | ||||||
576 | Walt Disney Co. (a) | 51,201 | ||||||
126 | Warner Music Group Corp. - Class A | 3,975 | ||||||
38 | World Wrestling Entertainment, Inc. - Class A | 3,990 | ||||||
299,265 | ||||||||
Multi-Sector Holdings - 0.9% | ||||||||
772 | Berkshire Hathaway, Inc. - Class B (a) | 271,713 | ||||||
Multi-Utilities - 0.1% | ||||||||
57 | Ameren Corp. | 4,883 | ||||||
126 | CMS Energy Corp. | 7,695 | ||||||
18 | DTE Energy Co. | 2,057 | ||||||
126 | Sempra | 18,777 | ||||||
111 | WEC Energy Group, Inc. | 9,974 | ||||||
43,386 | ||||||||
Office Services & Supplies - 0.0% (c) | ||||||||
36 | MSA Safety, Inc. | 5,976 | ||||||
Oil & Gas Equipment & Services - 0.3% | ||||||||
198 | ChampionX Corp. | 7,049 |
The accompanying notes are an integral part of these financial statements.
83
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
234 | Halliburton Co. | $ | 9,145 | |||||
453 | NOV, Inc. | 9,096 | ||||||
991 | Schlumberger N.V. ADR (b) | 57,815 | ||||||
83,105 | ||||||||
Oil & Gas Exploration & Production - 0.3% | ||||||||
274 | ConocoPhillips | 32,255 | ||||||
272 | Hess Corp. | 41,271 | ||||||
38 | Matador Resources Co. | 2,114 | ||||||
5 | Texas Pacific Land Corp. | 7,532 | ||||||
83,172 | ||||||||
Oil & Gas Storage & Transportation - 0.1% | ||||||||
91 | Cheniere Energy, Inc. | 14,729 | ||||||
54 | New Fortress Energy, Inc. | 1,542 | ||||||
72 | ONEOK, Inc. | 4,827 | ||||||
216 | Targa Resources Corp. | 17,710 | ||||||
38,808 | ||||||||
Other Specialty Retail - 0.2% | ||||||||
90 | Chewy, Inc. - Class A (a) | 3,051 | ||||||
20 | Dick’s Sporting Goods, Inc. | 2,820 | ||||||
54 | Five Below, Inc. (a) | 11,250 | ||||||
108 | Tractor Supply Co. | 24,191 | ||||||
48 | Ulta Beauty, Inc. (a) | 21,350 | ||||||
62,662 | ||||||||
Packaged Foods & Meats - 0.6% | ||||||||
74 | Campbell Soup Co. | 3,391 | ||||||
36 | Conagra Brands, Inc. | 1,181 | ||||||
72 | Flowers Foods, Inc. | 1,779 | ||||||
309 | General Mills, Inc. | 23,095 | ||||||
144 | Hershey Co. | 33,309 | ||||||
180 | Hormel Foods Corp. | 7,358 | ||||||
19 | J M Smucker Co. | 2,862 | ||||||
39 | Kellogg Co. | 2,609 | ||||||
144 | Lamb Weston Holdings, Inc. | 14,923 | ||||||
18 | Lancaster Colony Corp. | 3,467 | ||||||
166 | McCormick & Co., Inc. | 14,854 | ||||||
831 | Mondelez International, Inc. - Class A | 61,602 | ||||||
170,430 | ||||||||
Paper & Plastic Packaging Products & Materials - 0.1% | ||||||||
147 | Amcor PLC ADR (b) | 1,508 | ||||||
56 | Avery Dennison Corp. | 10,305 | ||||||
144 | Graphic Packaging Holding Co. | 3,485 | ||||||
57 | Sealed Air Corp. | 2,600 | ||||||
17,898 | ||||||||
Passenger Ground Transportation - 0.3% | ||||||||
288 | Lyft, Inc. - Class A (a) | 3,660 | ||||||
1,893 | Uber Technologies, Inc. (a) | 93,628 | ||||||
97,288 |
The accompanying notes are an integral part of these financial statements.
84
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Personal Care Products - 0.2% | ||||||||
146 | BellRing Brands, Inc. (a) | $ | 5,249 | |||||
216 | Estee Lauder Cos., Inc. - Class A | 38,880 | ||||||
98 | Kenvue, Inc. (a) | 2,321 | ||||||
90 | Olaplex Holdings, Inc. (a) | 324 | ||||||
46,774 | ||||||||
Pharmaceuticals - 3.6% | ||||||||
631 | Bristol-Myers Squibb Co. | 39,242 | ||||||
162 | Catalent, Inc. (a) | 7,860 | ||||||
848 | Eli Lilly & Co. | 385,458 | ||||||
38 | Jazz Pharmaceuticals PLC ADR (a)(b) | 4,956 | ||||||
1,587 | Johnson & Johnson | 265,870 | ||||||
1,783 | Merck & Co., Inc. | 190,157 | ||||||
1,800 | Pfizer, Inc. | 64,908 | ||||||
288 | Royalty Pharma PLC - Class A ADR (b) | 9,037 | ||||||
415 | Zoetis, Inc. | 78,057 | ||||||
1,045,545 | ||||||||
Property & Casualty Insurance - 0.5% | ||||||||
202 | Arch Capital Group Ltd. ADR (a)(b) | 15,693 | ||||||
127 | Chubb Ltd. ADR (b) | 25,960 | ||||||
37 | Cincinnati Financial Corp. | 3,980 | ||||||
18 | Erie Indemnity Co. - Class A | 3,995 | ||||||
19 | Kinsale Capital Group, Inc. | 7,080 | ||||||
10 | Markel Group, Inc. (a) | 14,497 | ||||||
577 | Progressive Corp. | 72,690 | ||||||
36 | RLI Corp. | 4,803 | ||||||
18 | Selective Insurance Group, Inc. | 1,857 | ||||||
126 | W.R. Berkley Corp. | 7,773 | ||||||
158,328 | ||||||||
Publishing - 0.0% (c) | ||||||||
126 | New York Times Co. - Class A | 5,136 | ||||||
18 | News Corp. - Class B | 362 | ||||||
146 | News Corp. - Class A | 2,894 | ||||||
8,392 | ||||||||
Rail Transportation - 0.6% | ||||||||
1,545 | CSX Corp. | 51,479 | ||||||
144 | Norfolk Southern Corp. | 33,637 | ||||||
331 | Union Pacific Corp. | 76,799 | ||||||
161,915 | ||||||||
Real Estate Development - 0.0% (c) | ||||||||
18 | Howard Hughes Corp. (a) | 1,520 | ||||||
Real Estate Services - 0.2% | ||||||||
164 | CBRE Group, Inc. - Class A (a) | 13,663 | ||||||
396 | CoStar Group, Inc. (a) | 33,252 | ||||||
2 | Zillow Group, Inc. - Class A (a) | 106 | ||||||
20 | Zillow Group, Inc. - Class C (a) | 1,083 | ||||||
48,104 |
The accompanying notes are an integral part of these financial statements.
85
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Regional Banks - 0.0% (c) | ||||||||
54 | Commerce Bancshares, Inc. | $ | 2,872 | |||||
18 | Cullen/Frost Bankers, Inc. | 1,954 | ||||||
144 | First Financial Bankshares, Inc. | 4,693 | ||||||
9,519 | ||||||||
Renewable Electricity - 0.0% (c) | ||||||||
37 | NextEra Energy Partners LP | 2,015 | ||||||
Research & Consulting Services - 0.5% | ||||||||
127 | Booz Allen Hamilton Holding Corp. | 15,377 | ||||||
11 | CACI International, Inc. - Class A (a) | 3,855 | ||||||
252 | Clarivate PLC ADR (a)(b) | 2,397 | ||||||
252 | Dun & Bradstreet Holdings, Inc. | 2,979 | ||||||
126 | Equifax, Inc. | 25,714 | ||||||
36 | FTI Consulting, Inc. (a) | 6,306 | ||||||
92 | Jacobs Solutions, Inc. | 11,538 | ||||||
146 | KBR, Inc. | 8,978 | ||||||
90 | Leidos Holdings, Inc. | 8,418 | ||||||
18 | Science Applications International Corp. | 2,184 | ||||||
198 | TransUnion | 15,779 | ||||||
147 | Verisk Analytics, Inc. | 33,654 | ||||||
137,179 | ||||||||
Restaurants - 1.4% | ||||||||
18 | Aramark | 727 | ||||||
28 | Chipotle Mexican Grill, Inc. (a) | 54,944 | ||||||
47 | Darden Restaurants, Inc. | 7,939 | ||||||
36 | Domino’s Pizza, Inc. | 14,283 | ||||||
306 | DoorDash, Inc. - Class A (a) | 27,782 | ||||||
36 | Dutch Bros, Inc. - Class A (a) | 1,116 | ||||||
529 | McDonald’s Corp. | 155,103 | ||||||
1,027 | Starbucks Corp. | 104,312 | ||||||
54 | Texas Roadhouse, Inc. | 6,024 | ||||||
126 | Wendy’s Co. | 2,708 | ||||||
253 | Yum! Brands, Inc. | 34,831 | ||||||
409,769 | ||||||||
Semiconductor Materials & Equipment - 1.2% | ||||||||
786 | Applied Materials, Inc. | 119,150 | ||||||
128 | Enphase Energy, Inc. (a) | 19,434 | ||||||
144 | Entegris, Inc. | 15,798 | ||||||
137 | KLA Corp. | 70,411 | ||||||
126 | Lam Research Corp. | 90,530 | ||||||
18 | MKS Instruments, Inc. | 1,965 | ||||||
54 | SolarEdge Technologies, Inc. (a) | 13,039 | ||||||
162 | Teradyne, Inc. | 18,296 | ||||||
348,623 | ||||||||
Semiconductors - 7.9% | ||||||||
1,598 | Advanced Micro Devices, Inc. (a) | 182,811 | ||||||
396 | Analog Devices, Inc. | 79,014 |
The accompanying notes are an integral part of these financial statements.
86
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
407 | Broadcom, Inc. | $ | 365,751 | |||||
54 | Cirrus Logic, Inc. (a) | 4,363 | ||||||
100 | First Solar, Inc. (a) | 20,740 | ||||||
72 | GLOBALFOUNDRIES, Inc. ADR (a)(b) | 4,586 | ||||||
144 | Lattice Semiconductor Corp. (a) | 13,095 | ||||||
704 | Marvell Technology, Inc. | 45,852 | ||||||
526 | Microchip Technology, Inc. | 49,412 | ||||||
42 | Monolithic Power Systems, Inc. | 23,499 | ||||||
2,366 | NVIDIA Corp. | 1,105,608 | ||||||
253 | NXP Semiconductors N.V. ADR (b) | 56,414 | ||||||
453 | ON Semiconductor Corp. (a) | 48,811 | ||||||
72 | Qorvo, Inc. (a) | 7,921 | ||||||
865 | Qualcomm, Inc. | 114,327 | ||||||
36 | Silicon Laboratories, Inc. (a) | 5,369 | ||||||
18 | Skyworks Solutions, Inc. | 2,059 | ||||||
19 | Synaptics, Inc. (a) | 1,716 | ||||||
788 | Texas Instruments, Inc. | 141,840 | ||||||
36 | Universal Display Corp. | 5,252 | ||||||
1 | Wolfspeed, Inc. (a) | 66 | ||||||
2,278,506 | ||||||||
Soft Drinks & Non-alcoholic Beverages - 1.6% | ||||||||
36 | Celsius Holdings, Inc. (a) | 5,209 | ||||||
2,985 | Coca-Cola Co. | 184,861 | ||||||
20 | Keurig Dr. Pepper, Inc. | 680 | ||||||
756 | Monster Beverage Corp. (a) | 43,462 | ||||||
1,172 | PepsiCo, Inc. | 219,703 | ||||||
453,915 | ||||||||
Specialized Consumer Services - 0.0% (c) | ||||||||
144 | Service Corp. International | 9,598 | ||||||
Specialized Finance - 0.0% (c) | ||||||||
540 | SoFi Technologies, Inc. (a) | 6,183 | ||||||
Specialty Chemicals - 0.6% | ||||||||
116 | Albemarle Corp. | 24,624 | ||||||
18 | Ashland, Inc. | 1,644 | ||||||
72 | Axalta Coating Systems Ltd. ADR (a)(b) | 2,304 | ||||||
187 | Ecolab, Inc. | 34,247 | ||||||
1,044 | Ginkgo Bioworks Holdings, Inc. (a)(d) | 2,620 | ||||||
4 | International Flavors & Fragrances, Inc. | 338 | ||||||
148 | PPG Industries, Inc. | 21,297 | ||||||
111 | RPM International, Inc. | 11,467 | ||||||
234 | Sherwin-Williams Co. | 64,701 | ||||||
163,242 | ||||||||
Systems Software - 10.3% | ||||||||
216 | Crowdstrike Holdings, Inc. - Class A (a) | 34,919 | ||||||
54 | Dolby Laboratories, Inc. - Class A | 4,785 |
The accompanying notes are an integral part of these financial statements.
87
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
696 | Fortinet, Inc. (a) | $ | 54,093 | |||||
306 | Gen Digital, Inc. | 5,952 | ||||||
82 | Gitlab, Inc. - Class A (a) | 4,070 | ||||||
7,420 | Microsoft Corp. | 2,492,526 | ||||||
18 | Monday.com Ltd. ADR (a)(b) | 3,254 | ||||||
1,491 | Oracle Corp. | 174,790 | ||||||
296 | Palo Alto Networks, Inc. (a) | 73,988 | ||||||
198 | SentinelOne, Inc. - Class A (a) | 3,301 | ||||||
203 | ServiceNow, Inc. (a) | 118,349 | ||||||
90 | Teradata Corp. (a) | 5,117 | ||||||
306 | UiPath, Inc. - Class A (a) | 5,532 | ||||||
90 | Zscaler, Inc. (a) | 14,434 | ||||||
2,995,110 | ||||||||
Technology Distributors - 0.1% | ||||||||
148 | CDW Corp. | 27,686 | ||||||
Technology Hardware, Storage & Peripherals - 10.1% | ||||||||
14,875 | Apple, Inc. | 2,922,194 | ||||||
54 | NetApp, Inc. | 4,213 | ||||||
270 | Pure Storage, Inc. - Class A (a) | 9,987 | ||||||
2,936,394 | ||||||||
Trading Companies & Distributors - 0.4% | ||||||||
542 | Fastenal Co. | 31,767 | ||||||
90 | Ferguson PLC ADR (b) | 14,546 | ||||||
36 | SiteOne Landscape Supply, Inc. (a) | 6,120 | ||||||
48 | United Rentals, Inc. | 22,305 | ||||||
22 | Watsco, Inc. | 8,320 | ||||||
45 | W.W. Grainger, Inc. | 33,232 | ||||||
116,290 | ||||||||
Transaction & Payment Processing Services - 3.4% | ||||||||
180 | Affirm Holdings, Inc. (a) | 3,490 | ||||||
524 | Block, Inc. (a) | 42,198 | ||||||
19 | Euronet Worldwide, Inc. (a) | 1,670 | ||||||
578 | Fiserv, Inc. (a) | 72,949 | ||||||
72 | FleetCor Technologies, Inc. (a) | 17,922 | ||||||
94 | Global Payments, Inc. | 10,364 | ||||||
72 | Jack Henry & Associates, Inc. | 12,065 | ||||||
837 | Mastercard, Inc. - Class A | 330,012 | ||||||
1,120 | PayPal Holdings, Inc. (a) | 84,918 | ||||||
452 | Toast, Inc. - Class A (a) | 9,976 | ||||||
1,607 | Visa, Inc. - Class A | 382,032 | ||||||
41 | WEX, Inc. (a) | 7,763 | ||||||
975,359 | ||||||||
Water Utilities - 0.1% | ||||||||
159 | American Water Works Co., Inc. | 23,441 | ||||||
180 | Essential Utilities, Inc. | 7,612 | ||||||
31,053 |
The accompanying notes are an integral part of these financial statements.
88
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Wireless Telecommunication Services - 0.2% | ||||||||
398 | T-Mobile US, Inc. (a) | $ | 54,832 | |||||
TOTAL COMMON STOCKS (Cost $25,160,794) | 28,309,737 | |||||||
REAL ESTATE INVESTMENT TRUSTS - 2.1% | ||||||||
Data Center REITs - 0.3% | ||||||||
163 | Digital Realty Trust, Inc. | 20,313 | ||||||
93 | Equinix, Inc. | 75,323 | ||||||
95,636 | ||||||||
Health Care REITs - 0.0% (c) | ||||||||
163 | Healthpeak Properties, Inc. | 3,558 | ||||||
92 | Welltower, Inc. | 7,558 | ||||||
11,116 | ||||||||
Industrial REITs - 0.5% | ||||||||
1 | Americold Realty Trust, Inc. | 32 | ||||||
36 | EastGroup Properties, Inc. | 6,378 | ||||||
126 | First Industrial Realty Trust, Inc. | 6,514 | ||||||
915 | Prologis, Inc. | 114,146 | ||||||
180 | Rexford Industrial Realty, Inc. | 9,916 | ||||||
108 | STAG Industrial, Inc. | 3,920 | ||||||
140,906 | ||||||||
Multi-Family Residential REITs - 0.2% | ||||||||
146 | Apartment Income REIT Corp. | 5,043 | ||||||
55 | AvalonBay Communities, Inc. | 10,376 | ||||||
90 | Camden Property Trust | 9,818 | ||||||
110 | Equity Residential | 7,253 | ||||||
19 | Essex Property Trust, Inc. | 4,627 | ||||||
91 | Mid-America Apartment Communities, Inc. | 13,619 | ||||||
148 | UDR, Inc. | 6,050 | ||||||
56,786 | ||||||||
Other Specialized REITs - 0.1% | ||||||||
21 | Gaming and Leisure Properties, Inc. | 997 | ||||||
200 | Iron Mountain, Inc. | 12,280 | ||||||
18 | Lamar Advertising Co. - Class A | 1,777 | ||||||
15,054 | ||||||||
Retail REITs - 0.1% | ||||||||
36 | Agree Realty Corp. | 2,332 | ||||||
18 | Federal Realty Investment Trust | 1,827 | ||||||
18 | NNN REIT, Inc. | 768 | ||||||
144 | Realty Income Corp. | 8,780 | ||||||
36 | Regency Centers Corp. | 2,359 | ||||||
16,066 | ||||||||
Self-Storage REITs - 0.2% | ||||||||
162 | CubeSmart | 7,024 | ||||||
141 | Extra Space Storage, Inc. | 19,710 | ||||||
38 | National Storage Affiliates Trust | 1,284 | ||||||
65 | Public Storage | 18,314 | ||||||
46,332 |
The accompanying notes are an integral part of these financial statements.
89
Strive 1000 Growth ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Single-Family Residential REITs - 0.2% | ||||||||
288 | American Homes 4 Rent - Class A | $ | 10,794 | |||||
162 | Equity LifeStyle Properties, Inc. | 11,531 | ||||||
612 | Invitation Homes, Inc. | 21,726 | ||||||
126 | Sun Communities, Inc. | 16,418 | ||||||
60,469 | ||||||||
Telecom Tower REITs - 0.5% | ||||||||
463 | American Tower Corp. | 88,114 | ||||||
410 | Crown Castle, Inc. | 44,399 | ||||||
108 | SBA Communications Corp. | 23,647 | ||||||
156,160 | ||||||||
Timber REITs - 0.0% (c) | ||||||||
90 | Rayonier, Inc. | 2,981 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $592,970) | 601,506 | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.0% | ||||||||
6,750 | First American Government Obligations Fund - Class X, 5.14% (e) | 6,750 | ||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $6,750) | 6,750 | |||||||
MONEY MARKET FUNDS - 0.2% | ||||||||
58,485 | First American Government Obligations Fund - Class X, 5.14% (e) | 58,485 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $58,485) | 58,485 | |||||||
TOTAL INVESTMENTS (Cost $25,818,999) - 100.0% | $ | 28,976,478 | ||||||
Other Assets in Excess of Liabilities - 0.0% (c) | 1,238 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 28,977,716 |
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 July 31, 2023. Total loaned securities had a market value of $6,697 as of July 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.
90
Strive 1000 Value ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 95.5% | ||||||||
Advertising - 0.2% | ||||||||
442 | Interpublic Group of Cos., Inc. | $ | 15,129 | |||||
267 | Omnicom Group, Inc. | 22,593 | ||||||
37,722 | ||||||||
Aerospace & Defense - 3.2% | ||||||||
793 | Boeing Co. (a) | 189,407 | ||||||
26 | BWX Technologies, Inc. | 1,793 | ||||||
13 | Curtiss-Wright Corp. | 2,487 | ||||||
184 | General Dynamics Corp. | 41,138 | ||||||
92 | Hexcel Corp. | 6,502 | ||||||
260 | Howmet Aerospace, Inc. | 13,295 | ||||||
26 | Huntington Ingalls Industries, Inc. | 5,971 | ||||||
105 | L3Harris Technologies, Inc. | 19,896 | ||||||
132 | Lockheed Martin Corp. | 58,921 | ||||||
27 | Northrop Grumman Corp. | 12,015 | ||||||
1,937 | RTX Corp. | 170,320 | ||||||
171 | Textron, Inc. | 13,299 | ||||||
8 | TransDigm Group, Inc. | 7,198 | ||||||
40 | Woodward, Inc. | 4,815 | ||||||
547,057 | ||||||||
Agricultural & Farm Machinery - 0.1% | ||||||||
69 | AGCO Corp. | 9,184 | ||||||
Agricultural Products & Services - 0.5% | ||||||||
627 | Archer-Daniels-Midland Co. | 53,270 | ||||||
195 | Bunge Ltd. ADR (b) | 21,191 | ||||||
26 | Darling Ingredients, Inc. (a) | 1,801 | ||||||
78 | Ingredion, Inc. | 8,678 | ||||||
84,940 | ||||||||
Air Freight & Logistics - 1.3% | ||||||||
119 | CH Robinson Worldwide, Inc. | 11,921 | ||||||
39 | Expeditors International of Washington, Inc. | 4,965 | ||||||
304 | FedEx Corp. | 82,065 | ||||||
108 | GXO Logistics, Inc. (a) | 7,244 | ||||||
606 | United Parcel Service, Inc. - Class B | 113,401 | ||||||
219,596 | ||||||||
Alternative Carriers - 0.0% (c) | ||||||||
1,300 | Lumen Technologies, Inc. | 2,327 | ||||||
Aluminum - 0.0% (c) | ||||||||
234 | Alcoa Corp. | 8,468 | ||||||
Apparel Retail - 0.0% (c) | ||||||||
338 | Gap, Inc. | 3,481 | ||||||
2 | Ross Stores, Inc. | 229 | ||||||
3,710 |
The accompanying notes are an integral part of these financial statements.
91
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Apparel, Accessories & Luxury Goods - 0.3% | ||||||||
144 | Capri Holdings Ltd. ADR (a)(b) | $ | 5,315 | |||||
14 | Columbia Sportswear Co. | 1,101 | ||||||
117 | Levi Strauss & Co. - Class A | 1,763 | ||||||
81 | PVH Corp. | 7,261 | ||||||
52 | Ralph Lauren Corp. | 6,829 | ||||||
288 | Tapestry, Inc. | 12,427 | ||||||
91 | Under Armour, Inc. - Class C (a) | 675 | ||||||
78 | Under Armour, Inc. - Class A (a) | 629 | ||||||
442 | VF Corp. | 8,756 | ||||||
44,756 | ||||||||
Application Software - 0.1% | ||||||||
42 | ACI Worldwide, Inc. (a) | 974 | ||||||
13 | Aspen Technology, Inc. (a) | 2,321 | ||||||
80 | Guidewire Software, Inc. (a) | 6,786 | ||||||
13 | Procore Technologies, Inc. (a) | 986 | ||||||
13 | Roper Technologies, Inc. | 6,410 | ||||||
17,477 | ||||||||
Asset Management & Custody Banks - 1.8% | ||||||||
39 | Affiliated Managers Group, Inc. | 5,407 | ||||||
57 | Ameriprise Financial, Inc. | 19,862 | ||||||
1,003 | Bank of New York Mellon Corp. | 45,496 | ||||||
82 | BlackRock, Inc. | 60,586 | ||||||
300 | Blackstone, Inc. | 31,437 | ||||||
52 | Blue Owl Capital, Inc. | 641 | ||||||
325 | Carlyle Group, Inc. | 11,586 | ||||||
377 | Franklin Resources, Inc. | 11,023 | ||||||
572 | Invesco Ltd. ADR (b) | 9,610 | ||||||
287 | KKR & Co., Inc. | 17,042 | ||||||
260 | Northern Trust Corp. | 20,831 | ||||||
65 | SEI Investments Co. | 4,094 | ||||||
420 | State Street Corp. | 30,425 | ||||||
286 | T. Rowe Price Group, Inc. | 35,252 | ||||||
26 | TPG, Inc. | 765 | ||||||
304,057 | ||||||||
Automobile Manufacturers - 0.8% | ||||||||
5,148 | Ford Motor Co. | 68,005 | ||||||
1,783 | General Motors Co. | 68,414 | ||||||
78 | Lucid Group, Inc. (a) | 594 | ||||||
65 | Thor Industries, Inc. | 7,507 | ||||||
144,520 | ||||||||
Automotive Parts & Equipment - 0.3% | ||||||||
156 | Aptiv PLC ADR (a)(b) | 17,080 | ||||||
312 | BorgWarner, Inc. | 14,508 | ||||||
134 | Gentex Corp. | 4,500 | ||||||
78 | Lear Corp. | 12,071 | ||||||
62 | Phinia, Inc. (a) | 1,748 | ||||||
49,907 |
The accompanying notes are an integral part of these financial statements.
92
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Automotive Retail - 0.3% | ||||||||
68 | Advance Auto Parts, Inc. | $ | 5,059 | |||||
52 | AutoNation, Inc. (a) | 8,371 | ||||||
199 | CarMax, Inc. (a) | 16,439 | ||||||
35 | Lithia Motors, Inc. | 10,869 | ||||||
14 | Murphy USA, Inc. | 4,298 | ||||||
27 | Penske Automotive Group, Inc. | 4,358 | ||||||
147 | Valvoline, Inc. | 5,582 | ||||||
54,976 | ||||||||
Biotechnology - 2.1% | ||||||||
906 | AbbVie, Inc. | 135,519 | ||||||
235 | Amgen, Inc. | 55,025 | ||||||
130 | Biogen, Inc. (a) | 35,125 | ||||||
54 | Exelixis, Inc. (a) | 1,064 | ||||||
1,263 | Gilead Sciences, Inc. | 96,165 | ||||||
118 | Ionis Pharmaceuticals, Inc. (a) | 4,889 | ||||||
34 | Karuna Therapeutics, Inc. (a) | 6,792 | ||||||
96 | Sarepta Therapeutics, Inc. (a) | 10,405 | ||||||
66 | Seagen, Inc. (a) | 12,657 | ||||||
27 | United Therapeutics Corp. (a) | 6,553 | ||||||
364,194 | ||||||||
Brewers - 0.1% | ||||||||
234 | Molson Coors Beverage Co. - Class B | 16,326 | ||||||
Broadcasting - 0.2% | ||||||||
403 | Fox Corp. - Class A | 13,480 | ||||||
182 | Fox Corp. - Class B | 5,717 | ||||||
42 | Nexstar Media Group, Inc. | 7,842 | ||||||
650 | Paramount Global - Class B | 10,420 | ||||||
13 | Paramount Global - Class A | 250 | ||||||
37,709 | ||||||||
Broadline Retail - 0.2% | ||||||||
2 | Dillard’s, Inc. - Class A | 686 | ||||||
377 | eBay, Inc. | 16,780 | ||||||
169 | Kohl’s Corp. | 4,808 | ||||||
338 | Macy’s, Inc. | 5,607 | ||||||
27,881 | ||||||||
Building Products - 0.8% | ||||||||
53 | A.O. Smith Corp. | 3,849 | ||||||
26 | Allegion PLC ADR (b) | 3,038 | ||||||
13 | Armstrong World Industries, Inc. | 1,006 | ||||||
176 | Builders FirstSource, Inc. (a) | 25,420 | ||||||
3 | Carlisle Cos., Inc. | 832 | ||||||
368 | Carrier Global Corp. | 21,914 | ||||||
157 | Fortune Brands Innovations, Inc. | 11,158 | ||||||
238 | Johnson Controls International PLC ADR (b) | 16,553 | ||||||
16 | Lennox International, Inc. | 5,879 | ||||||
211 | Masco Corp. | 12,803 |
The accompanying notes are an integral part of these financial statements.
93
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
117 | Owens Corning | $ | 16,379 | |||||
78 | Trane Technologies PLC ADR (b) | 15,556 | ||||||
134,387 | ||||||||
Cable & Satellite - 1.7% | ||||||||
5 | Cable One, Inc. | 3,620 | ||||||
52 | Charter Communications, Inc. - Class A (a) | 21,070 | ||||||
5,527 | Comcast Corp. - Class A | 250,152 | ||||||
325 | DISH Network Corp. - Class A (a) | 2,577 | ||||||
195 | Liberty Media Corp. - Liberty SiriusXM - Class C (a) | 6,207 | ||||||
104 | Liberty Media Corp. - Liberty SiriusXM - Class A (a) | 3,297 | ||||||
585 | Sirius XM Holdings, Inc. | 2,984 | ||||||
289,907 | ||||||||
Cargo Ground Transportation - 0.1% | ||||||||
169 | Knight-Swift Transportation Holdings, Inc. | 10,267 | ||||||
15 | Landstar System, Inc. | 3,054 | ||||||
53 | U-Haul Holding Co. | 3,079 | ||||||
143 | XPO, Inc. (a) | 9,901 | ||||||
26,301 | ||||||||
Casinos & Gaming - 0.5% | ||||||||
52 | Boyd Gaming Corp. | 3,553 | ||||||
183 | Caesars Entertainment, Inc. (a) | 10,801 | ||||||
496 | Las Vegas Sands Corp. | 29,666 | ||||||
340 | MGM Resorts International | 17,262 | ||||||
208 | Penn Entertainment, Inc. (a) | 5,468 | ||||||
130 | Wynn Resorts Ltd. | 14,167 | ||||||
80,917 | ||||||||
Commercial & Residential Mortgage Finance - 0.1% | ||||||||
130 | Essent Group Ltd. ADR (b) | 6,448 | ||||||
390 | MGIC Investment Corp. | 6,529 | ||||||
221 | Radian Group, Inc. | 5,952 | ||||||
143 | Rocket Cos., Inc. - Class A (a)(d) | 1,563 | ||||||
65 | TFS Financial Corp. | 943 | ||||||
104 | UWM Holdings Corp. | 682 | ||||||
22,117 | ||||||||
Commodity Chemicals - 0.6% | ||||||||
940 | Dow, Inc. | 53,082 | ||||||
347 | LyondellBasell Industries N.V. - Class A ADR (b) | 34,304 | ||||||
78 | Olin Corp. | 4,499 | ||||||
39 | Westlake Corp. | 5,363 | ||||||
97,248 | ||||||||
Communications Equipment - 1.1% | ||||||||
3,272 | Cisco Systems, Inc. | 170,275 | ||||||
29 | F5, Inc. (a) | 4,589 | ||||||
238 | Juniper Networks, Inc. | 6,616 | ||||||
40 | Lumentum Holdings, Inc. (a) | 2,094 | ||||||
18 | Motorola Solutions, Inc. | 5,159 | ||||||
188,733 |
The accompanying notes are an integral part of these financial statements.
94
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Computer & Electronics Retail - 0.2% | ||||||||
260 | Best Buy Co., Inc. | $ | 21,593 | |||||
339 | GameStop Corp. - Class A (a)(d) | 7,526 | ||||||
29,119 | ||||||||
Construction & Engineering - 0.1% | ||||||||
56 | AECOM | 4,872 | ||||||
26 | EMCOR Group, Inc. | 5,591 | ||||||
42 | MasTec, Inc. (a) | 4,946 | ||||||
260 | MDU Resources Group, Inc. | 5,751 | ||||||
21,160 | ||||||||
Construction Machinery & Heavy Transportation Equipment - 1.2% | ||||||||
130 | Allison Transmission Holdings, Inc. | 7,630 | ||||||
273 | Caterpillar, Inc. | 72,391 | ||||||
143 | Cummins, Inc. | 37,294 | ||||||
78 | Oshkosh Corp. | 7,181 | ||||||
683 | PACCAR, Inc. | 58,827 | ||||||
144 | Westinghouse Air Brake Technologies Corp. | 17,055 | ||||||
200,378 | ||||||||
Construction Materials - 0.0% (c) | ||||||||
4 | Eagle Materials, Inc. | 737 | ||||||
65 | Knife River Corp. (a) | 2,826 | ||||||
3,563 | ||||||||
Consumer Electronics - 0.0% (c) | ||||||||
79 | Garmin Ltd. ADR (b) | 8,365 | ||||||
Consumer Finance - 1.2% | ||||||||
342 | Ally Financial, Inc. | 10,445 | ||||||
456 | American Express Co. | 77,009 | ||||||
500 | Capital One Financial Corp. | 58,510 | ||||||
1 | Credit Acceptance Corp. (a) | 557 | ||||||
334 | Discover Financial Services | 35,254 | ||||||
159 | OneMain Holdings, Inc. | 7,231 | ||||||
286 | SLM Corp. | 4,627 | ||||||
563 | Synchrony Financial | 19,446 | ||||||
213,079 | ||||||||
Consumer Staples Merchandise Retail - 1.4% | ||||||||
92 | BJ’s Wholesale Club Holdings, Inc. (a) | 6,101 | ||||||
41 | Dollar Tree, Inc. (a) | 6,328 | ||||||
355 | Target Corp. | 48,447 | ||||||
1,088 | Walmart, Inc. | 173,928 | ||||||
234,804 | ||||||||
Copper - 0.3% | ||||||||
1,085 | Freeport-McMoRan, Inc. | 48,445 | ||||||
Data Processing & Outsourced Services - 0.1% | ||||||||
3 | Broadridge Financial Solutions, Inc. | 504 | ||||||
26 | Concentrix Corp. | 2,164 |
The accompanying notes are an integral part of these financial statements.
95
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
16 | Genpact Ltd. ADR (b) | $ | 577 | |||||
26 | Maximus, Inc. | 2,178 | ||||||
106 | SS&C Technologies Holdings, Inc. | 6,175 | ||||||
11,598 | ||||||||
Distillers & Vintners - 0.1% | ||||||||
54 | Constellation Brands, Inc. - Class A | 14,731 | ||||||
Distributors - 0.1% | ||||||||
66 | Genuine Parts Co. | 10,278 | ||||||
212 | LKQ Corp. | 11,615 | ||||||
21,893 | ||||||||
Diversified Banks - 8.5% | ||||||||
9,168 | Bank of America Corp. | 293,376 | ||||||
2,499 | Citigroup, Inc. | 119,102 | ||||||
169 | Comerica, Inc. | 9,119 | ||||||
871 | Fifth Third Bancorp | 25,346 | ||||||
13 | First Citizens BancShares, Inc. - Class A | 18,607 | ||||||
3,804 | JPMorgan Chase & Co. | 600,880 | ||||||
1,183 | KeyCorp | 14,563 | ||||||
525 | PNC Financial Services Group, Inc. | 71,867 | ||||||
1,942 | U.S. Bancorp | 77,059 | ||||||
4,972 | Wells Fargo & Co. | 229,508 | ||||||
1,459,427 | ||||||||
Diversified Chemicals - 0.0% (c) | ||||||||
234 | Huntsman Corp. | 6,966 | ||||||
Diversified Financial Services - 0.3% | ||||||||
248 | Apollo Global Management, Inc. | 20,264 | ||||||
95 | Corebridge Financial, Inc. | 1,777 | ||||||
494 | Equitable Holdings, Inc. | 14,173 | ||||||
130 | Voya Financial, Inc. | 9,654 | ||||||
45,868 | ||||||||
Drug Retail - 0.1% | ||||||||
938 | Walgreens Boots Alliance, Inc. | 28,112 | ||||||
Education Services - 0.0% (c) | ||||||||
32 | Bright Horizons Family Solutions, Inc. (a) | 3,105 | ||||||
Electric Utilities - 3.7% | ||||||||
238 | Alliant Energy Corp. | 12,790 | ||||||
666 | American Electric Power Co., Inc. | 56,437 | ||||||
91 | Avangrid, Inc. | 3,374 | ||||||
1,016 | Duke Energy Corp. | 95,118 | ||||||
494 | Edison International | 35,548 | ||||||
282 | Entergy Corp. | 28,961 | ||||||
290 | Evergy, Inc. | 17,391 | ||||||
351 | Eversource Energy | 25,388 |
The accompanying notes are an integral part of these financial statements.
96
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
1,277 | Exelon Corp. | $ | 53,455 | |||||
702 | FirstEnergy Corp. | 27,652 | ||||||
130 | Hawaiian Electric Industries, Inc. | 4,991 | ||||||
52 | IDACORP, Inc. | 5,347 | ||||||
536 | NextEra Energy, Inc. | 39,289 | ||||||
299 | NRG Energy, Inc. | 11,359 | ||||||
260 | OGE Energy Corp. | 9,399 | ||||||
2,475 | PG&E Corp. (a) | 43,585 | ||||||
143 | Pinnacle West Capital Corp. | 11,843 | ||||||
91 | PNM Resources, Inc. | 4,079 | ||||||
117 | Portland General Electric Co. | 5,577 | ||||||
923 | PPL Corp. | 25,410 | ||||||
1,239 | Southern Co. | 89,629 | ||||||
507 | Xcel Energy, Inc. | 31,804 | ||||||
638,426 | ||||||||
Electrical Components & Equipment - 0.6% | ||||||||
15 | Acuity Brands, Inc. | 2,479 | ||||||
78 | ChargePoint Holdings, Inc. (a)(d) | 675 | ||||||
215 | Eaton Corp. PLC ADR (b) | 44,144 | ||||||
301 | Emerson Electric Co. | 27,496 | ||||||
15 | Hubbell, Inc. | 4,680 | ||||||
104 | nVent Electric PLC ADR (b) | 5,500 | ||||||
78 | Regal Rexnord Corp. | 12,182 | ||||||
134 | Sensata Technologies Holding PLC ADR (b) | 5,662 | ||||||
260 | Sunrun, Inc. (a) | 4,935 | ||||||
107,753 | ||||||||
Electronic Components - 0.2% | ||||||||
81 | Coherent Corp. (a) | 3,836 | ||||||
977 | Corning, Inc. | 33,159 | ||||||
9 | Littelfuse, Inc. | 2,741 | ||||||
39,736 | ||||||||
Electronic Equipment & Instruments - 0.1% | ||||||||
42 | Cognex Corp. | 2,294 | ||||||
27 | National Instruments Corp. | 1,593 | ||||||
227 | Vontier Corp. | 7,021 | ||||||
10,908 | ||||||||
Electronic Manufacturing Services - 0.4% | ||||||||
585 | Flex Ltd. ADR (a)(b) | 16,006 | ||||||
26 | IPG Photonics Corp. (a) | 3,418 | ||||||
174 | Jabil, Inc. | 19,257 | ||||||
208 | TE Connectivity Ltd. ADR (b) | 29,846 | ||||||
68,527 | ||||||||
Environmental & Facilities Services - 0.1% | ||||||||
29 | Republic Services, Inc. | 4,382 | ||||||
104 | Stericycle, Inc. (a) | 4,419 | ||||||
13 | Waste Management, Inc. | 2,129 | ||||||
10,930 |
The accompanying notes are an integral part of these financial statements.
97
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Fertilizers & Agricultural Chemicals - 0.3% | ||||||||
250 | CF Industries Holdings, Inc. | $ | 20,520 | |||||
171 | Corteva, Inc. | 9,650 | ||||||
41 | FMC Corp. | 3,945 | ||||||
442 | Mosaic Co. | 18,016 | ||||||
52 | Scotts Miracle-Gro Co. | 3,642 | ||||||
55,773 | ||||||||
Financial Exchanges & Data - 0.5% | ||||||||
391 | CME Group, Inc. | 77,793 | ||||||
139 | Intercontinental Exchange, Inc. | 15,957 | ||||||
93,750 | ||||||||
Food Distributors - 0.2% | ||||||||
195 | Performance Food Group Co. (a) | 11,653 | ||||||
182 | Sysco Corp. | 13,888 | ||||||
263 | US Foods Holding Corp. (a) | 11,238 | ||||||
36,779 | ||||||||
Food Retail - 0.3% | ||||||||
397 | Albertsons Cos., Inc. - Class A | 8,627 | ||||||
16 | Casey’s General Stores, Inc. | 4,043 | ||||||
859 | Kroger Co. | 41,782 | ||||||
54,452 | ||||||||
Footwear - 0.0% (c) | ||||||||
105 | Skechers USA, Inc. - Class A (a) | 5,836 | ||||||
Gas Utilities - 0.2% | ||||||||
147 | Atmos Energy Corp. | 17,891 | ||||||
130 | National Fuel Gas Co. | 6,904 | ||||||
273 | UGI Corp. | 7,368 | ||||||
32,163 | ||||||||
Gold - 0.2% | ||||||||
964 | Newmont Corp. | 41,375 | ||||||
Health Care Distributors - 0.9% | ||||||||
221 | AmerisourceBergen Corp. | 41,305 | ||||||
345 | Cardinal Health, Inc. | 31,557 | ||||||
78 | Henry Schein, Inc. (a) | 6,146 | ||||||
176 | McKesson Corp. | 70,822 | ||||||
149,830 | ||||||||
Health Care Equipment - 1.4% | ||||||||
354 | Baxter International, Inc. | 16,011 | ||||||
126 | Becton Dickinson & Co. | 35,106 | ||||||
93 | Envista Holdings Corp. (a) | 3,200 | ||||||
81 | GE HealthCare Technologies, Inc. | 6,318 | ||||||
28 | Hologic, Inc. (a) | 2,224 | ||||||
13 | Integra LifeSciences Holdings Corp. (a) | 591 | ||||||
1,659 | Medtronic PLC ADR (b) | 145,594 | ||||||
56 | QuidelOrtho Corp. (a) | 4,892 |
The accompanying notes are an integral part of these financial statements.
98
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
9 | Teleflex, Inc. | $ | 2,261 | |||||
160 | Zimmer Biomet Holdings, Inc. | 22,104 | ||||||
238,301 | ||||||||
Health Care Facilities - 0.4% | ||||||||
30 | Acadia Healthcare Co., Inc. (a) | 2,371 | ||||||
104 | Encompass Health Corp. | 6,867 | ||||||
163 | HCA Healthcare, Inc. | 44,468 | ||||||
143 | Tenet Healthcare Corp. (a) | 10,686 | ||||||
78 | Universal Health Services, Inc. - Class B | 10,839 | ||||||
75,231 | ||||||||
Health Care Services - 1.5% | ||||||||
261 | Cigna Group | 77,021 | ||||||
1,788 | CVS Health Corp. | 133,546 | ||||||
65 | DaVita, Inc. (a) | 6,629 | ||||||
93 | Laboratory Corp. of America Holdings | 19,895 | ||||||
104 | Premier, Inc. - Class A | 2,886 | ||||||
80 | Quest Diagnostics, Inc. | 10,817 | ||||||
119 | R1 RCM, Inc. (a) | 2,056 | ||||||
252,850 | ||||||||
Health Care Supplies - 0.1% | ||||||||
234 | Dentsply Sirona, Inc. | 9,716 | ||||||
9 | ICU Medical, Inc. (a) | 1,604 | ||||||
11,320 | ||||||||
Health Care Technology - 0.0% (c) | ||||||||
65 | Teladoc Health, Inc. (a) | 1,935 | ||||||
Home Furnishings - 0.1% | ||||||||
169 | Leggett & Platt, Inc. | 4,945 | ||||||
65 | Mohawk Industries, Inc. (a) | 6,912 | ||||||
17 | Tempur Sealy International, Inc. | 759 | ||||||
12,616 | ||||||||
Home Improvement Retail - 0.2% | ||||||||
26 | Home Depot, Inc. | 8,680 | ||||||
156 | Lowe’s Cos., Inc. | 36,546 | ||||||
45,226 | ||||||||
Homebuilding - 0.8% | ||||||||
408 | D.R. Horton, Inc. | 51,824 | ||||||
325 | Lennar Corp. - Class A | 41,220 | ||||||
13 | Lennar Corp. - Class B | 1,494 | ||||||
1 | NVR, Inc. (a) | 6,306 | ||||||
299 | PulteGroup, Inc. | 25,233 | ||||||
143 | Toll Brothers, Inc. | 11,487 | ||||||
14 | TopBuild Corp. (a) | 3,835 | ||||||
141,399 |
The accompanying notes are an integral part of these financial statements.
99
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Homefurnishing Retail - 0.1% | ||||||||
2 | RH (a) | $ | 776 | |||||
91 | Wayfair, Inc. - Class A (a) | 7,086 | ||||||
84 | Williams-Sonoma, Inc. | 11,646 | ||||||
19,508 | ||||||||
Hotels, Resorts & Cruise Lines - 0.7% | ||||||||
2 | Booking Holdings, Inc. (a) | 5,942 | ||||||
1,281 | Carnival Corp. ADR (a)(b) | 24,134 | ||||||
195 | Expedia Group, Inc. (a) | 23,893 | ||||||
55 | Hyatt Hotels Corp. - Class A | 6,949 | ||||||
41 | Marriott Vacations Worldwide Corp. | 5,269 | ||||||
533 | Norwegian Cruise Line Holdings Ltd. ADR (a)(b) | 11,763 | ||||||
286 | Royal Caribbean Cruises Ltd. ADR (a)(b) | 31,205 | ||||||
104 | Travel + Leisure Co. | 4,236 | ||||||
65 | Wyndham Hotels & Resorts, Inc. | 5,065 | ||||||
118,456 | ||||||||
Household Appliances - 0.1% | ||||||||
74 | Whirlpool Corp. | 10,675 | ||||||
Household Products - 0.8% | ||||||||
27 | Church & Dwight Co., Inc. | 2,583 | ||||||
65 | Clorox Co. | 9,846 | ||||||
286 | Colgate-Palmolive Co. | 21,810 | ||||||
221 | Kimberly-Clark Corp. | 28,531 | ||||||
521 | Procter & Gamble Co. | 81,432 | ||||||
39 | Reynolds Consumer Products, Inc. | 1,080 | ||||||
145,282 | ||||||||
Housewares & Specialties - 0.0% (c) | ||||||||
481 | Newell Brands, Inc. | 5,368 | ||||||
Human Resource & Employment Services - 0.1% | ||||||||
65 | ManpowerGroup, Inc. | 5,127 | ||||||
13 | Paychex, Inc. | 1,631 | ||||||
104 | Robert Half International, Inc. | 7,712 | ||||||
13 | TriNet Group, Inc. (a) | 1,368 | ||||||
15,838 | ||||||||
Independent Power Producers & Energy Traders - 0.1% | ||||||||
574 | AES Corp. | 12,416 | ||||||
340 | Vistra Corp. | 9,540 | ||||||
21,956 | ||||||||
Industrial Conglomerates - 1.5% | ||||||||
729 | 3M Co. | 81,284 | ||||||
1,253 | General Electric Co. | 143,143 | ||||||
221 | Honeywell International, Inc. | 42,903 | ||||||
267,330 |
The accompanying notes are an integral part of these financial statements.
100
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Industrial Gases - 0.0% (c) | ||||||||
1 | Air Products and Chemicals, Inc. | $ | 305 | |||||
Industrial Machinery & Supplies & Components - 0.9% | ||||||||
52 | Crane Co. | 4,872 | ||||||
52 | Crane NXT Co. | 3,076 | ||||||
29 | Donaldson Co., Inc. | 1,822 | ||||||
39 | Dover Corp. | 5,693 | ||||||
162 | Flowserve Corp. | 6,117 | ||||||
261 | Fortive Corp. | 20,449 | ||||||
143 | Gates Industrial Corp. PLC ADR (a)(b) | 1,948 | ||||||
65 | Illinois Tool Works, Inc. | 17,116 | ||||||
66 | Ingersoll Rand, Inc. | 4,308 | ||||||
42 | ITT, Inc. | 4,183 | ||||||
5 | Lincoln Electric Holdings, Inc. | 1,004 | ||||||
15 | Middleby Corp. (a) | 2,278 | ||||||
107 | Otis Worldwide Corp. | 9,733 | ||||||
57 | Parker-Hannifin Corp. | 23,371 | ||||||
130 | Pentair PLC ADR (b) | 9,035 | ||||||
52 | Snap-on, Inc. | 14,167 | ||||||
195 | Stanley Black & Decker, Inc. | 19,358 | ||||||
148,530 | ||||||||
Insurance Brokers - 0.0% (c) | ||||||||
6 | Aon PLC - Class A ADR (b) | 1,911 | ||||||
13 | Arthur J. Gallagher & Co. | 2,792 | ||||||
13 | Willis Towers Watson PLC ADR (b) | 2,747 | ||||||
7,450 | ||||||||
Integrated Oil & Gas - 5.5% | ||||||||
2,158 | Chevron Corp. | 353,178 | ||||||
5,026 | Exxon Mobil Corp. | 538,988 | ||||||
886 | Occidental Petroleum Corp. | 55,933 | ||||||
948,099 | ||||||||
Integrated Telecommunication Services - 1.8% | ||||||||
9,403 | AT&T, Inc. | 136,532 | ||||||
312 | Frontier Communications Parent, Inc. (a) | 5,682 | ||||||
5,125 | Verizon Communications, Inc. | 174,660 | ||||||
316,874 | ||||||||
Interactive Home Entertainment - 0.1% | ||||||||
117 | Activision Blizzard, Inc. | 10,853 | ||||||
5 | Electronic Arts, Inc. | 682 | ||||||
121 | Playtika Holding Corp. (a) | 1,445 | ||||||
12,980 | ||||||||
Interactive Media & Services - 2.5% | ||||||||
65 | Bumble, Inc. - Class A (a) | 1,204 | ||||||
95 | IAC, Inc. (a) | 6,612 | ||||||
364 | Match Group, Inc. (a) | 16,930 |
The accompanying notes are an integral part of these financial statements.
101
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
1,263 | Meta Platforms, Inc. - Class A (a) | $ | 402,392 | |||||
26 | Ziff Davis, Inc. (a) | 1,886 | ||||||
429,024 | ||||||||
Internet Services & Infrastructure - 0.0% (c) | ||||||||
7 | Akamai Technologies, Inc. (a) | 662 | ||||||
Investment Banking & Brokerage - 2.1% | ||||||||
39 | Evercore, Inc. - Class A | 5,267 | ||||||
438 | Goldman Sachs Group, Inc. | 155,871 | ||||||
130 | Interactive Brokers Group, Inc. - Class A | 11,353 | ||||||
208 | Jefferies Financial Group, Inc. | 7,652 | ||||||
143 | Lazard Ltd. - Class A ADR (b) | 5,019 | ||||||
1,695 | Morgan Stanley | 155,194 | ||||||
41 | Raymond James Financial, Inc. | 4,513 | ||||||
903 | Robinhood Markets, Inc. - Class A (a) | 11,613 | ||||||
130 | Stifel Financial Corp. | 8,260 | ||||||
130 | Virtu Financial, Inc. - Class A | 2,413 | ||||||
367,155 | ||||||||
IT Consulting & Other Services - 1.3% | ||||||||
65 | Amdocs Ltd. ADR (b) | 6,087 | ||||||
562 | Cognizant Technology Solutions Corp. - Class A | 37,109 | ||||||
299 | DXC Technology Co. (a) | 8,267 | ||||||
1,191 | International Business Machines Corp. | 171,718 | ||||||
223,181 | ||||||||
Leisure Products - 0.1% | ||||||||
91 | Brunswick Corp. | 7,854 | ||||||
169 | Hasbro, Inc. | 10,911 | ||||||
52 | Polaris, Inc. | 7,064 | ||||||
25,829 | ||||||||
Life & Health Insurance - 1.1% | ||||||||
599 | Aflac, Inc. | 43,332 | ||||||
67 | Globe Life, Inc. | 7,515 | ||||||
195 | Lincoln National Corp. | 5,468 | ||||||
793 | MetLife, Inc. | 49,935 | ||||||
28 | Primerica, Inc. | 5,956 | ||||||
325 | Principal Financial Group, Inc. | 25,958 | ||||||
481 | Prudential Financial, Inc. | 46,412 | ||||||
221 | Unum Group | 10,743 | ||||||
195,319 | ||||||||
Life Sciences Tools & Services - 0.1% | ||||||||
93 | Fortrea Holdings, Inc. (a) | 2,972 | ||||||
143 | Maravai LifeSciences Holdings, Inc. - Class A (a) | 1,617 | ||||||
131 | Syneos Health, Inc. (a) | 5,556 | ||||||
10,145 | ||||||||
Managed Health Care - 0.9% | ||||||||
776 | Centene Corp. (a) | 52,838 | ||||||
110 | Elevance Health, Inc. | 51,879 |
The accompanying notes are an integral part of these financial statements.
102
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
65 | Humana, Inc. | $ | 29,694 | |||||
34 | UnitedHealth Group, Inc. | 17,217 | ||||||
151,628 | ||||||||
Metal, Glass & Plastic Containers - 0.2% | ||||||||
26 | AptarGroup, Inc. | 3,158 | ||||||
94 | Ball Corp. | 5,517 | ||||||
152 | Berry Global Group, Inc. | 9,967 | ||||||
107 | Crown Holdings, Inc. | 9,925 | ||||||
28,567 | ||||||||
Motorcycle Manufacturers - 0.0% (c) | ||||||||
169 | Harley-Davidson, Inc. | 6,525 | ||||||
Movies & Entertainment - 1.2% | ||||||||
663 | AMC Entertainment Holdings, Inc. - Class A (a)(d) | 3,295 | ||||||
3 | Atlanta Braves Holdings, Inc. - Class C (a) | 107 | ||||||
13 | Liberty Media Corp. - Liberty Formula One - Class A (a) | 836 | ||||||
78 | Liberty Media Corp. - Liberty Formula One - Class C (a) | 5,663 | ||||||
104 | Live Nation Entertainment, Inc. (a) | 9,126 | ||||||
15 | Madison Square Garden Sports Corp. | 3,191 | ||||||
1,646 | Walt Disney Co. (a) | 146,313 | ||||||
2,968 | Warner Bros Discovery, Inc. (a) | 38,792 | ||||||
207,323 | ||||||||
Multi-line Insurance - 0.6% | ||||||||
964 | American International Group, Inc. | 58,110 | ||||||
66 | Assurant, Inc. | 8,878 | ||||||
416 | Hartford Financial Services Group, Inc. | 29,902 | ||||||
96,890 | ||||||||
Multi-Sector Holdings - 1.3% | ||||||||
659 | Berkshire Hathaway, Inc. - Class B (a) | 231,942 | ||||||
Multi-Utilities - 1.8% | ||||||||
249 | Ameren Corp. | 21,332 | ||||||
78 | Black Hills Corp. | 4,706 | ||||||
852 | CenterPoint Energy, Inc. | 25,637 | ||||||
247 | CMS Energy Corp. | 15,084 | ||||||
463 | Consolidated Edison, Inc. | 43,920 | ||||||
1,082 | Dominion Energy, Inc. | 57,941 | ||||||
209 | DTE Energy Co. | 23,889 | ||||||
520 | NiSource, Inc. | 14,477 | ||||||
650 | Public Service Enterprise Group, Inc. | 41,028 | ||||||
250 | Sempra Energy | 37,255 | ||||||
250 | WEC Energy Group, Inc. | 22,465 | ||||||
307,734 | ||||||||
Office Services & Supplies - 0.0% (c) | ||||||||
13 | MSA Safety, Inc. | 2,158 |
The accompanying notes are an integral part of these financial statements.
103
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Oil & Gas Equipment & Services - 0.6% | ||||||||
1,301 | Baker Hughes Co. | $ | 46,563 | |||||
768 | Halliburton Co. | 30,013 | ||||||
537 | Schlumberger Ltd. ADR (b) | 31,329 | ||||||
107,905 | ||||||||
Oil & Gas Exploration & Production - 3.4% | ||||||||
338 | Antero Resources Corp. (a) | 9,042 | ||||||
429 | APA Corp. | 17,370 | ||||||
160 | Chesapeake Energy Corp. | 13,494 | ||||||
52 | Chord Energy Corp. | 8,156 | ||||||
1,239 | ConocoPhillips | 145,855 | ||||||
1,008 | Coterra Energy, Inc. | 27,760 | ||||||
846 | Devon Energy Corp. | 45,684 | ||||||
235 | Diamondback Energy, Inc. | 34,620 | ||||||
772 | EOG Resources, Inc. | 102,313 | ||||||
490 | EQT Corp. | 20,668 | ||||||
822 | Marathon Oil Corp. | 21,594 | ||||||
82 | Matador Resources Co. | 4,562 | ||||||
195 | Murphy Oil Corp. | 8,438 | ||||||
325 | Ovintiv, Inc. | 14,979 | ||||||
124 | PDC Energy, Inc. | 9,410 | ||||||
404 | Permian Resources Corp. | 4,723 | ||||||
300 | Pioneer Natural Resources Co. | 67,701 | ||||||
325 | Range Resources Corp. | 10,215 | ||||||
1,404 | Southwestern Energy Co. (a) | 9,098 | ||||||
575,682 | ||||||||
Oil & Gas Refining & Marketing - 1.3% | ||||||||
195 | HF Sinclair Corp. | 10,158 | ||||||
586 | Marathon Petroleum Corp. | 77,950 | ||||||
160 | PBF Energy, Inc. - Class A | 7,590 | ||||||
604 | Phillips 66 | 67,376 | ||||||
488 | Valero Energy Corp. | 62,908 | ||||||
225,982 | ||||||||
Oil & Gas Storage & Transportation - 1.0% | ||||||||
196 | Cheniere Energy, Inc. | 31,725 | ||||||
130 | DT Midstream, Inc. | 6,958 | ||||||
52 | Hess Midstream LP - Class A | 1,622 | ||||||
2,627 | Kinder Morgan, Inc. | 46,524 | ||||||
482 | ONEOK, Inc. | 32,313 | ||||||
1,616 | Williams Cos., Inc. | 55,671 | ||||||
174,813 | ||||||||
Other Specialty Retail - 0.1% | ||||||||
313 | Bath & Body Works, Inc. | 11,600 | ||||||
39 | Dick’s Sporting Goods, Inc. | 5,499 | ||||||
17,099 |
The accompanying notes are an integral part of these financial statements.
104
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Packaged Foods & Meats - 1.3% | ||||||||
147 | Campbell Soup Co. | $ | 6,736 | |||||
563 | Conagra Brands, Inc. | 18,472 | ||||||
143 | Flowers Foods, Inc. | 3,534 | ||||||
342 | General Mills, Inc. | 25,561 | ||||||
171 | Hormel Foods Corp. | 6,990 | ||||||
107 | J.M. Smucker Co. | 16,120 | ||||||
276 | Kellogg Co. | 18,462 | ||||||
1,062 | Kraft Heinz Co. | 38,423 | ||||||
92 | McCormick & Co., Inc. | 8,232 | ||||||
676 | Mondelez International, Inc. - Class A | 50,112 | ||||||
52 | Pilgrim’s Pride Corp. (a) | 1,288 | ||||||
66 | Post Holdings, Inc. (a) | 5,630 | ||||||
364 | Tyson Foods, Inc. - Class A | 20,282 | ||||||
219,842 | ||||||||
Paper & Plastic Packaging Products & Materials - 0.5% | ||||||||
1,732 | Amcor PLC ADR (b) | 17,770 | ||||||
26 | Avery Dennison Corp. | 4,784 | ||||||
241 | Graphic Packaging Holding Co. | 5,832 | ||||||
481 | International Paper Co. | 17,345 | ||||||
117 | Packaging Corp. of America | 17,942 | ||||||
95 | Sealed Air Corp. | 4,334 | ||||||
126 | Sonoco Products Co. | 7,389 | ||||||
325 | Westrock Co. | 10,819 | ||||||
86,215 | ||||||||
Passenger Airlines - 0.2% | ||||||||
39 | Alaska Air Group, Inc. (a) | 1,897 | ||||||
208 | American Airlines Group, Inc. (a) | 3,484 | ||||||
209 | Delta Air Lines, Inc. | 9,668 | ||||||
182 | Southwest Airlines Co. | 6,217 | ||||||
104 | United Airlines Holdings, Inc. (a) | 5,648 | ||||||
26,914 | ||||||||
Passenger Ground Transportation - 0.1% | ||||||||
27 | Avis Budget Group, Inc. (a) | 5,948 | ||||||
3,488 | Grab Holdings Ltd. - Class A ADR (a)(b) | 13,359 | ||||||
185 | Hertz Global Holdings, Inc. (a) | 3,117 | ||||||
22,424 | ||||||||
Personal Care Products - 0.1% | ||||||||
4 | BellRing Brands, Inc. (a) | 144 | ||||||
455 | Coty, Inc. - Class A (a) | 5,478 | ||||||
162 | Kenvue, Inc. (a) | 3,836 | ||||||
9,458 | ||||||||
Pharmaceuticals - 4.0% | ||||||||
1,945 | Bristol-Myers Squibb Co. | 120,960 | ||||||
26 | Catalent, Inc. (a) | 1,262 | ||||||
614 | Elanco Animal Health, Inc. (a) | 7,411 | ||||||
30 | Jazz Pharmaceuticals PLC ADR (a)(b) | 3,913 | ||||||
1,332 | Johnson & Johnson | 223,150 |
The accompanying notes are an integral part of these financial statements.
105
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
984 | Merck & Co., Inc. | $ | 104,944 | |||||
325 | Organon & Co. | 7,144 | ||||||
169 | Perrigo Co. PLC ADR (b) | 6,192 | ||||||
5,105 | Pfizer, Inc. | 184,086 | ||||||
83 | Royalty Pharma PLC - Class A ADR (b) | 2,605 | ||||||
1,547 | Viatris, Inc. | 16,290 | ||||||
677,957 | ||||||||
Property & Casualty Insurance - 1.7% | ||||||||
344 | Allstate Corp. | 38,762 | ||||||
91 | American Financial Group, Inc. | 11,067 | ||||||
184 | Arch Capital Group Ltd. ADR (a)(b) | 14,295 | ||||||
104 | Axis Capital Holdings Ltd. ADR (b) | 5,732 | ||||||
370 | Chubb Ltd. ADR (b) | 75,632 | ||||||
146 | Cincinnati Financial Corp. | 15,707 | ||||||
338 | Fidelity National Financial, Inc. | 13,239 | ||||||
130 | First American Financial Corp. | 8,239 | ||||||
39 | Hanover Insurance Group, Inc. | 4,426 | ||||||
251 | Loews Corp. | 15,725 | ||||||
4 | Markel Group, Inc. (a) | 5,799 | ||||||
364 | Old Republic International Corp. | 10,035 | ||||||
13 | RLI Corp. | 1,734 | ||||||
53 | Selective Insurance Group, Inc. | 5,469 | ||||||
299 | Travelers Cos., Inc. | 51,610 | ||||||
93 | W.R. Berkley Corp. | 5,737 | ||||||
283,208 | ||||||||
Publishing - 0.0% (c) | ||||||||
15 | New York Times Co. - Class A | 611 | ||||||
91 | News Corp. - Class B | 1,830 | ||||||
290 | News Corp. - Class A | 5,748 | ||||||
8,189 | ||||||||
Rail Transportation - 0.8% | ||||||||
654 | CSX Corp. | 21,791 | ||||||
113 | Norfolk Southern Corp. | 26,396 | ||||||
354 | Union Pacific Corp. | 82,135 | ||||||
130,322 | ||||||||
Real Estate Development - 0.0% (c) | ||||||||
26 | Howard Hughes Corp. (a) | 2,195 | ||||||
Real Estate Services - 0.2% | ||||||||
171 | CBRE Group, Inc. - Class A (a) | 14,246 | ||||||
65 | Jones Lang LaSalle, Inc. (a) | 10,826 | ||||||
41 | Zillow Group, Inc. - Class A (a) | 2,182 | ||||||
171 | Zillow Group, Inc. - Class C (a) | 9,261 | ||||||
36,515 | ||||||||
Regional Banks - 1.6% | ||||||||
143 | Bank OZK | 6,253 | ||||||
39 | BOK Financial Corp. | 3,474 | ||||||
637 | Citizens Financial Group, Inc. | 20,550 |
The accompanying notes are an integral part of these financial statements.
106
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
54 | Commerce Bancshares, Inc. | $ | 2,872 | |||||
53 | Cullen/Frost Bankers, Inc. | 5,755 | ||||||
182 | East West Bancorp, Inc. | 11,322 | ||||||
29 | First Financial Bankshares, Inc. | 945 | ||||||
689 | First Horizon Corp. | 9,391 | ||||||
1,957 | Huntington Bancshares, Inc. | 23,954 | ||||||
221 | M&T Bank Corp. | 30,909 | ||||||
927 | New York Community Bancorp, Inc. | 12,857 | ||||||
91 | Pinnacle Financial Partners, Inc. | 6,907 | ||||||
91 | Popular, Inc. ADR (b) | 6,602 | ||||||
117 | Prosperity Bancshares, Inc. | 7,408 | ||||||
1,267 | Regions Financial Corp. | 25,809 | ||||||
97 | SouthState Corp. | 7,534 | ||||||
182 | Synovus Financial Corp. | 6,170 | ||||||
1,718 | Truist Financial Corp. | 57,072 | ||||||
169 | United Bankshares, Inc. | 5,651 | ||||||
221 | Webster Financial Corp. | 10,458 | ||||||
133 | Western Alliance Bancorp | 6,909 | ||||||
78 | Wintrust Financial Corp. | 6,580 | ||||||
195 | Zions Bancorp NA | 7,459 | ||||||
282,841 | ||||||||
Reinsurance - 0.3% | ||||||||
66 | Everest Group Ltd. ADR (b) | 23,794 | ||||||
91 | Reinsurance Group of America, Inc. | 12,772 | ||||||
54 | RenaissanceRe Holdings Ltd. ADR (b) | 10,085 | ||||||
46,651 | ||||||||
Renewable Electricity - 0.0% (c) | ||||||||
39 | Clearway Energy, Inc. - Class A | 962 | ||||||
104 | Clearway Energy, Inc. - Class C | 2,747 | ||||||
54 | NextEra Energy Partners LP | 2,940 | ||||||
6,649 | ||||||||
Research & Consulting Services - 0.1% | ||||||||
13 | CACI International, Inc. - Class A (a) | 4,556 | ||||||
119 | Clarivate PLC ADR (a)(b) | 1,132 | ||||||
104 | Dun & Bradstreet Holdings, Inc. | 1,229 | ||||||
30 | Jacobs Solutions, Inc. | 3,762 | ||||||
3 | KBR, Inc. | 184 | ||||||
65 | Leidos Holdings, Inc. | 6,079 | ||||||
42 | Science Applications International Corp. | 5,096 | ||||||
22,038 | ||||||||
Restaurants - 0.7% | ||||||||
276 | Aramark | 11,142 | ||||||
92 | Darden Restaurants, Inc. | 15,541 | ||||||
263 | McDonald’s Corp. | 77,112 | ||||||
117 | Starbucks Corp. | 11,884 | ||||||
2 | Texas Roadhouse, Inc. | 223 | ||||||
39 | Wendy’s Co. | 838 |
The accompanying notes are an integral part of these financial statements.
107
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
28 | Yum! Brands, Inc. | $ | 3,855 | |||||
120,595 | ||||||||
Semiconductor Materials & Equipment - 0.2% | ||||||||
118 | Amkor Technology, Inc. | 3,433 | ||||||
66 | Applied Materials, Inc. | 10,005 | ||||||
13 | Lam Research Corp. | 9,340 | ||||||
65 | MKS Instruments, Inc. | 7,096 | ||||||
29,874 | ||||||||
Semiconductors - 2.6% | ||||||||
143 | Analog Devices, Inc. | 28,533 | ||||||
13 | Cirrus Logic, Inc. (a) | 1,050 | ||||||
5,437 | Intel Corp. | 194,481 | ||||||
173 | Marvell Technology, Inc. | 11,267 | ||||||
1,434 | Micron Technology, Inc. | 102,373 | ||||||
29 | Qorvo, Inc. (a) | 3,191 | ||||||
329 | Qualcomm, Inc. | 43,484 | ||||||
182 | Skyworks Solutions, Inc. | 20,815 | ||||||
17 | Synaptics, Inc. (a) | 1,535 | ||||||
157 | Texas Instruments, Inc. | 28,260 | ||||||
147 | Wolfspeed, Inc. (a) | 9,687 | ||||||
444,676 | ||||||||
Soft Drinks & Non-alcoholic Beverages - 0.9% | ||||||||
1,200 | Coca-Cola Co. | 74,316 | ||||||
1,177 | Keurig Dr. Pepper, Inc. | 40,030 | ||||||
266 | PepsiCo, Inc. | 49,864 | ||||||
164,210 | ||||||||
Specialized Consumer Services - 0.0% (c) | ||||||||
260 | ADT, Inc. | 1,659 | ||||||
173 | H&R Block, Inc. | 5,815 | ||||||
13 | Service Corp. International | 866 | ||||||
8,340 | ||||||||
Specialized Finance - 0.0% (c) | ||||||||
378 | SoFi Technologies, Inc. (a) | 4,328 | ||||||
Specialty Chemicals - 0.8% | ||||||||
39 | Ashland, Inc. | 3,563 | ||||||
134 | Axalta Coating Systems Ltd. ADR (a)(b) | 4,288 | ||||||
130 | Celanese Corp. | 16,301 | ||||||
561 | DuPont de Nemours, Inc. | 43,550 | ||||||
156 | Eastman Chemical Co. | 13,350 | ||||||
80 | Ecolab, Inc. | 14,651 | ||||||
313 | International Flavors & Fragrances, Inc. | 26,483 | ||||||
119 | PPG Industries, Inc. | 17,124 | ||||||
13 | RPM International, Inc. | 1,343 | ||||||
140,653 |
The accompanying notes are an integral part of these financial statements.
108
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Steel - 0.8% | ||||||||
654 | Cleveland-Cliffs, Inc. (a) | $ | 11,543 | |||||
146 | Commercial Metals Co. | 8,354 | ||||||
333 | Nucor Corp. | 57,306 | ||||||
78 | Reliance Steel & Aluminum Co. | 22,843 | ||||||
211 | Steel Dynamics, Inc. | 22,488 | ||||||
274 | United States Steel Corp. | 6,987 | ||||||
129,521 | ||||||||
Systems Software - 0.4% | ||||||||
13 | Dolby Laboratories, Inc. - Class A | 1,152 | ||||||
312 | Gen Digital, Inc. | 6,068 | ||||||
94 | Oracle Corp. | 11,020 | ||||||
13 | Teradata Corp. (a) | 739 | ||||||
304 | VMware, Inc. - Class A (a) | 47,920 | ||||||
66,899 | ||||||||
Technology Distributors - 0.1% | ||||||||
79 | Arrow Electronics, Inc. (a) | 11,261 | ||||||
58 | TD SYNNEX Corp. | 5,725 | ||||||
16,986 | ||||||||
Technology Hardware, Storage & Peripherals - 0.8% | ||||||||
325 | Dell Technologies, Inc. - Class C | 17,199 | ||||||
1,664 | Hewlett Packard Enterprise Co. | 28,920 | ||||||
1,170 | HP, Inc. | 38,411 | ||||||
209 | NetApp, Inc. | 16,304 | ||||||
260 | Seagate Technology Holdings PLC ADR (b) | 16,510 | ||||||
437 | Western Digital Corp. (a) | 18,599 | ||||||
135,943 | ||||||||
Tobacco - 1.8% | ||||||||
2,446 | Altria Group, Inc. | 111,097 | ||||||
2,041 | Philip Morris International, Inc. | 203,529 | ||||||
314,626 | ||||||||
Trading Companies & Distributors - 0.4% | ||||||||
130 | Air Lease Corp. | 5,504 | ||||||
26 | Fastenal Co. | 1,524 | ||||||
146 | Ferguson PLC ADR (b) | 23,597 | ||||||
65 | MSC Industrial Direct Co., Inc. - Class A | 6,560 | ||||||
26 | United Rentals, Inc. | 12,082 | ||||||
13 | Watsco, Inc. | 4,916 | ||||||
65 | WESCO International, Inc. | 11,412 | ||||||
65,595 | ||||||||
Transaction & Payment Processing Services - 0.4% | ||||||||
26 | Euronet Worldwide, Inc. (a) | 2,285 | ||||||
767 | Fidelity National Information Services, Inc. | 46,311 | ||||||
210 | Global Payments, Inc. | 23,153 | ||||||
494 | Western Union Co. | 6,017 | ||||||
77,766 |
The accompanying notes are an integral part of these financial statements.
109
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Water Utilities - 0.0% (c) | ||||||||
40 | American Water Works Co., Inc. | $ | 5,897 | |||||
40 | Essential Utilities, Inc. | 1,692 | ||||||
7,589 | ||||||||
Wireless Telecommunication Services - 0.2% | ||||||||
276 | T-Mobile US, Inc. (a) | 38,025 | ||||||
TOTAL COMMON STOCKS (Cost $15,426,021) | 16,341,404 | |||||||
REAL ESTATE INVESTMENT TRUSTS - 3.9% | ||||||||
Data Center REITs - 0.1% | ||||||||
157 | Digital Realty Trust, Inc. | 19,565 | ||||||
Diversified REITs - 0.1% | ||||||||
288 | W.P. Carey, Inc. | 19,449 | ||||||
Health Care REITs - 0.6% | ||||||||
494 | Healthcare Realty Trust, Inc. | 9,648 | ||||||
481 | Healthpeak Properties, Inc. | 10,500 | ||||||
754 | Medical Properties Trust, Inc. | 7,608 | ||||||
299 | Omega Healthcare Investors, Inc. | 9,538 | ||||||
520 | Ventas, Inc. | 25,230 | ||||||
524 | Welltower, Inc. | 43,047 | ||||||
105,571 | ||||||||
Hotel & Resort REITs - 0.1% | ||||||||
897 | Host Hotels & Resorts, Inc. | 16,505 | ||||||
Industrial REITs - 0.1% | ||||||||
341 | Americold Realty Trust, Inc. | 11,055 | ||||||
3 | EastGroup Properties, Inc. | 532 | ||||||
40 | First Industrial Realty Trust, Inc. | 2,068 | ||||||
2 | Prologis, Inc. | 250 | ||||||
111 | STAG Industrial, Inc. | 4,029 | ||||||
17,934 | ||||||||
Mortgage REITs - 0.3% | ||||||||
772 | AGNC Investment Corp. | 7,867 | ||||||
685 | Annaly Capital Management, Inc. | 13,762 | ||||||
208 | Blackstone Mortgage Trust, Inc. - Class A | 4,782 | ||||||
598 | Rithm Capital Corp. | 6,028 | ||||||
377 | Starwood Property Trust, Inc. | 7,819 | ||||||
40,258 | ||||||||
Multi-Family Residential REITs - 0.4% | ||||||||
104 | AvalonBay Communities, Inc. | 19,620 | ||||||
26 | Camden Property Trust | 2,836 | ||||||
326 | Equity Residential | 21,496 | ||||||
53 | Essex Property Trust, Inc. | 12,908 | ||||||
26 | Mid-America Apartment Communities, Inc. | 3,891 | ||||||
211 | UDR, Inc. | 8,626 | ||||||
69,377 |
The accompanying notes are an integral part of these financial statements.
110
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Office REITs - 0.3% | ||||||||
228 | Alexandria Real Estate Equities, Inc. | $ | 28,655 | |||||
184 | Boston Properties, Inc. | 12,260 | ||||||
196 | Cousins Properties, Inc. | 4,788 | ||||||
143 | Kilroy Realty Corp. | 5,105 | ||||||
221 | Vornado Realty Trust | 4,968 | ||||||
55,776 | ||||||||
Other Specialized REITs - 0.4% | ||||||||
276 | Gaming and Leisure Properties, Inc. | 13,099 | ||||||
132 | Iron Mountain, Inc. | 8,105 | ||||||
78 | Lamar Advertising Co. - Class A | 7,699 | ||||||
1,319 | VICI Properties, Inc. | 41,522 | ||||||
70,425 | ||||||||
Retail REITs - 0.9% | ||||||||
78 | Agree Realty Corp. | 5,053 | ||||||
390 | Brixmor Property Group, Inc. | 8,869 | ||||||
67 | Federal Realty Investment Trust | 6,802 | ||||||
767 | Kimco Realty Corp. | 15,539 | ||||||
208 | NNN REIT, Inc. | 8,877 | ||||||
677 | Realty Income Corp. | 41,277 | ||||||
169 | Regency Centers Corp. | 11,075 | ||||||
418 | Simon Property Group, Inc. | 52,083 | ||||||
149,575 | ||||||||
Retail REITs - 0.1% | ||||||||
169 | Spirit Realty Capital, Inc. | 6,816 | ||||||
Self-Storage REITs - 0.3% | ||||||||
106 | CubeSmart | 4,596 | ||||||
76 | Extra Space Storage, Inc. | 10,668 | ||||||
52 | National Storage Affiliates Trust | 1,757 | ||||||
122 | Public Storage | 34,374 | ||||||
51,395 | ||||||||
Telecom Tower REITs - 0.0% (c) | ||||||||
26 | Crown Castle, Inc. | 2,816 | ||||||
Timber REITs - 0.2% | ||||||||
107 | Rayonier, Inc. | 3,544 | ||||||
949 | Weyerhaeuser Co. | 32,323 | ||||||
35,867 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $640,387) | 661,329 | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.1% | ||||||||
12,381 | First American Government Obligations Fund - Class X, 5.14% (e) | 12,381 | ||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $12,381) | 12,381 |
The accompanying notes are an integral part of these financial statements.
111
Strive 1000 Value ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
MONEY MARKET FUNDS - 0.5% | ||||||||
78,413 | First American Government Obligations Fund - Class X, 5.14% (e) | $ | 78,413 | |||||
TOTAL MONEY MARKET FUNDS (Cost $78,413) | 78,413 | |||||||
TOTAL INVESTMENTS (Cost $16,157,202) - 100.0% | $ | 17,093,527 | ||||||
Other Assets in Excess of Liabilities - 0.0% (c) | 7,003 | |||||||
TOTAL NET ASSETS - 100.0% | $ | 17,100,530 |
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 July 31, 2023. Total loaned securities had a market value of $12,391 as of July 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.
112
Strive Small-Cap ETF |
Schedule of Investments |
July 31, 2023 |
Shares | Value | |||||||
COMMON STOCKS - 93.3% | ||||||||
Aerospace & Defense - 1.4% | ||||||||
1,190 | BWX Technologies, Inc. | $ | 82,110 | |||||
1,108 | Hexcel Corp. | 78,313 | ||||||
740 | Mercury Systems, Inc. (a) | 28,105 | ||||||
376 | Moog, Inc. - Class A | 39,645 | ||||||
545 | Parsons Corp. (a) | 26,934 | ||||||
3,527 | Rocket Lab USA, Inc. (a) | 25,994 | ||||||
1,361 | Spirit AeroSystems Holdings, Inc. - Class A | 43,307 | ||||||
324,408 | ||||||||
Air Freight & Logistics - 0.3% | ||||||||
340 | Forward Air Corp. | 40,406 | ||||||
410 | Hub Group, Inc. - Class A (a) | 36,953 | ||||||
77,359 | ||||||||
Alternative Carriers - 0.3% | ||||||||
561 | Cogent Communications Holdings, Inc. | 34,356 | ||||||
8,841 | Globalstar, Inc. (a) | 9,548 | ||||||
13,297 | Lumen Technologies, Inc. | 23,802 | ||||||
67,706 | ||||||||
Aluminum - 0.2% | ||||||||
1,276 | Arconic Corp. (a) | 38,140 | ||||||
Apparel Retail - 0.8% | ||||||||
2,459 | American Eagle Outfitters, Inc. | 34,549 | ||||||
392 | Boot Barn Holdings, Inc. (a) | 36,809 | ||||||
1,190 | Foot Locker, Inc. | 31,975 | ||||||
3,554 | Gap, Inc. | 36,606 | ||||||
783 | Urban Outfitters, Inc. (a) | 28,478 | ||||||
1,046 | Victoria’s Secret & Co. (a) | 21,433 | ||||||
189,850 | ||||||||
Apparel, Accessories & Luxury Goods - 0.5% | ||||||||
478 | Carter’s, Inc. | 35,855 | ||||||
4,404 | Hanesbrands, Inc. | 23,209 | ||||||
701 | Kontoor Brands, Inc. | 29,694 | ||||||
2,466 | Under Armour, Inc. - Class C (a) | 18,298 | ||||||
2,538 | Under Armour, Inc. - Class A (a) | 20,456 | ||||||
127,512 | ||||||||
Application Software - 5.6% | ||||||||
1,430 | ACI Worldwide, Inc. (a) | 33,162 | ||||||
616 | Alarm.com Holdings, Inc. (a) | 34,009 | ||||||
680 | Altair Engineering, Inc. - Class A (a) | 50,959 | ||||||
766 | Alteryx, Inc. - Class A (a) | 31,758 | ||||||
232 | Appfolio, Inc. - Class A (a) | 41,897 | ||||||
2,162 | AppLovin Corp. - Class A (a) | 67,887 | ||||||
953 | Asana, Inc. - Class A (a) | 23,139 | ||||||
702 | Blackbaud, Inc. (a) | 52,966 | ||||||
734 | BlackLine, Inc. (a) | 42,631 | ||||||
1,847 | Box, Inc. - Class A (a) | 57,719 |
The accompanying notes are an integral part of these financial statements.
113
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
629 | Braze, Inc. - Class A (a) | $ | 28,594 | |||||
2,274 | CCC Intelligent Solutions Holdings, Inc. (a) | 25,059 | ||||||
1,132 | Clear Secure, Inc. - Class A | 26,840 | ||||||
978 | Clearwater Analytics Holdings, Inc. - Class A (a) | 16,851 | ||||||
1,387 | DoubleVerify Holdings, Inc. (a) | 58,393 | ||||||
552 | EngageSmart, Inc. (a) | 10,466 | ||||||
647 | Envestnet, Inc. (a) | 40,101 | ||||||
920 | Five9, Inc. (a) | 80,730 | ||||||
2,023 | Freshworks, Inc. - Class A (a) | 37,749 | ||||||
461 | Informatica, Inc. - Class A (a) | 8,777 | ||||||
265 | Instructure Holdings, Inc. (a) | 7,200 | ||||||
877 | Jamf Holding Corp. (a) | 19,048 | ||||||
115 | MicroStrategy, Inc. - Class A (a) | 50,356 | ||||||
868 | nCino, Inc. (a) | 28,080 | ||||||
1,720 | NCR Corp. (a) | 46,234 | ||||||
699 | New Relic, Inc. (a) | 58,702 | ||||||
1,116 | PagerDuty, Inc. (a) | 28,927 | ||||||
554 | Pegasystems, Inc. | 29,224 | ||||||
687 | PowerSchool Holdings, Inc. - Class A (a) | 16,605 | ||||||
1,124 | RingCentral, Inc. - Class A (a) | 46,489 | ||||||
1,078 | Sprinklr, Inc. - Class A (a) | 15,135 | ||||||
595 | Sprout Social, Inc. - Class A (a) | 33,998 | ||||||
477 | SPS Commerce, Inc. (a) | 86,046 | ||||||
861 | Verint Systems, Inc. (a) | 32,176 | ||||||
608 | Workiva, Inc. (a) | 64,016 | ||||||
1,331,923 | ||||||||
Asset Management & Custody Banks - 1.0% | ||||||||
867 | Artisan Partners Asset Management, Inc. - Class A | 35,972 | ||||||
345 | Cohen & Steers, Inc. | 22,187 | ||||||
1,122 | Federated Hermes, Inc. | 37,957 | ||||||
743 | Focus Financial Partners, Inc. - Class A (a) | 38,881 | ||||||
431 | Hamilton Lane, Inc. - Class A | 38,113 | ||||||
1,730 | Janus Henderson Group PLC ADR (b) | 50,776 | ||||||
735 | StepStone Group, Inc. - Class A | 20,631 | ||||||
244,517 | ||||||||
Automobile Manufacturers - 0.4% | ||||||||
2,580 | Fisker, Inc. (a)(c) | 15,919 | ||||||
631 | Thor Industries, Inc. | 72,874 | ||||||
88,793 | ||||||||
Automotive Parts & Equipment - 1.5% | ||||||||
1,224 | Adient PLC ADR (a)(b) | 52,093 | ||||||
1,709 | Dana, Inc. | 32,437 | ||||||
343 | Dorman Products, Inc. (a) | 29,049 | ||||||
545 | Fox Factory Holding Corp. (a) | 60,986 | ||||||
425 | Gentherm, Inc. (a) | 25,402 | ||||||
324 | LCI Industries | 44,151 | ||||||
3,054 | Luminar Technologies, Inc. (a)(c) | 22,600 |
The accompanying notes are an integral part of these financial statements.
114
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
2,978 | QuantumScape Corp. (a)(c) | $ | 39,637 | |||||
368 | Visteon Corp. (a) | 56,705 | ||||||
363,060 | ||||||||
Automotive Retail - 0.5% | ||||||||
282 | Asbury Automotive Group, Inc. (a) | 63,619 | ||||||
531 | Camping World Holdings, Inc. - Class A | 17,008 | ||||||
179 | Group 1 Automotive, Inc. | 46,277 | ||||||
126,904 | ||||||||
Biotechnology - 3.9% | ||||||||
1,569 | ACADIA Pharmaceuticals, Inc. (a) | 45,878 | ||||||
2,146 | Alkermes PLC ADR (a)(b) | 62,835 | ||||||
852 | Alvotech S.A. ADR (a)(b) | 8,350 | ||||||
3,730 | Amicus Therapeutics, Inc. (a) | 50,803 | ||||||
1,347 | Arrowhead Pharmaceuticals, Inc. (a) | 46,498 | ||||||
919 | Beam Therapeutics, Inc. (a) | 28,370 | ||||||
773 | Blueprint Medicines Corp. (a) | 51,018 | ||||||
757 | Cerevel Therapeutics Holdings, Inc. (a) | 23,157 | ||||||
992 | CRISPR Therapeutics AG ADR (a)(b) | 56,871 | ||||||
1,190 | Cytokinetics, Inc. (a) | 39,687 | ||||||
1,305 | Denali Therapeutics, Inc. (a) | 37,101 | ||||||
680 | Immunovant, Inc. (a) | 15,524 | ||||||
1,734 | Insmed, Inc. (a) | 38,304 | ||||||
1,080 | Intellia Therapeutics, Inc. (a) | 45,716 | ||||||
187 | Madrigal Pharmaceuticals, Inc. (a) | 38,391 | ||||||
665 | Mirati Therapeutics, Inc. (a) | 20,130 | ||||||
1,389 | Natera, Inc. (a) | 62,811 | ||||||
478 | ProKidney Corp. ADR (a)(b)(c) | 6,128 | ||||||
503 | Prothena Corp. PLC ADR (a)(b) | 34,642 | ||||||
957 | PTC Therapeutics, Inc. (a) | 38,605 | ||||||
1,513 | Relay Therapeutics, Inc. (a) | 19,064 | ||||||
1,277 | REVOLUTION Medicines, Inc. (a) | 33,521 | ||||||
666 | Sage Therapeutics, Inc. (a) | 23,097 | ||||||
859 | Ultragenyx Pharmaceutical, Inc. (a) | 37,040 | ||||||
1,072 | Vaxcyte, Inc. (a) | 51,520 | ||||||
1,347 | Vir Biotechnology, Inc. (a) | 18,966 | ||||||
934,027 | ||||||||
Brewers - 0.2% | ||||||||
121 | Boston Beer Co., Inc. - Class A (a) | 44,944 | ||||||
Broadcasting - 0.2% | ||||||||
2,875 | TEGNA, Inc. | 48,588 | ||||||
Broadline Retail - 0.5% | ||||||||
1,411 | Kohl’s Corp. | 40,143 | ||||||
1,278 | Nordstrom, Inc. (c) | 29,535 | ||||||
801 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 58,377 | ||||||
128,055 |
The accompanying notes are an integral part of these financial statements.
115
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Building Products - 2.0% | ||||||||
598 | AAON, Inc. | $ | 62,944 | |||||
580 | Armstrong World Industries, Inc. | 44,868 | ||||||
1,547 | AZEK Co., Inc. (a) | 48,265 | ||||||
677 | Griffon Corp. | 28,243 | ||||||
1,437 | Hayward Holdings, Inc. (a) | 19,197 | ||||||
1,898 | Resideo Technologies, Inc. (a) | 35,530 | ||||||
554 | Simpson Manufacturing Co., Inc. | 87,531 | ||||||
802 | UFP Industries, Inc. | 82,413 | ||||||
1,830 | Zurn Elkay Water Solutions Corp. - Class C | 55,704 | ||||||
464,695 | ||||||||
Cable & Satellite - 0.2% | ||||||||
66 | Cable One, Inc. | 47,780 | ||||||
Cargo Ground Transportation - 0.9% | ||||||||
572 | Ryder System, Inc. | 58,430 | ||||||
587 | Schneider National, Inc. - Class B | 18,085 | ||||||
737 | Werner Enterprises, Inc. | 34,654 | ||||||
1,446 | XPO, Inc. (a) | 100,121 | ||||||
211,290 | ||||||||
Casinos & Gaming - 0.6% | ||||||||
1,360 | International Game Technology PLC (b) | 46,009 | ||||||
2,048 | Penn Entertainment, Inc. (a) | 53,842 | ||||||
629 | Red Rock Resorts, Inc. - Class A | 30,507 | ||||||
1,175 | Sportradar Holding AG - Class A ADR (a)(b) | 17,308 | ||||||
147,666 | ||||||||
Coal & Consumable Fuels - 0.3% | ||||||||
238 | Arch Resources, Inc. | 30,569 | ||||||
391 | Enviva, Inc. | 5,267 | ||||||
1,619 | Peabody Energy Corp. | 36,330 | ||||||
72,166 | ||||||||
Commercial & Residential Mortgage Finance - 1.3% | ||||||||
375 | Enact Holdings, Inc. | 10,200 | ||||||
1,379 | Essent Group Ltd. ADR (b) | 68,398 | ||||||
3,811 | MGIC Investment Corp. | 63,796 | ||||||
810 | Mr Cooper Group, Inc. (a) | 46,956 | ||||||
306 | PennyMac Financial Services, Inc. | 23,020 | ||||||
2,040 | Radian Group, Inc. | 54,937 | ||||||
648 | TFS Financial Corp. | 9,402 | ||||||
411 | Walker & Dunlop, Inc. | 37,393 | ||||||
314,102 | ||||||||
Commercial Printing - 0.1% | ||||||||
602 | Brady Corp. - Class A | 31,051 | ||||||
Commodity Chemicals - 0.3% | ||||||||
746 | Cabot Corp. | 52,966 | ||||||
1,547 | Tronox Holdings PLC ADR (b) | 20,560 | ||||||
73,526 |
The accompanying notes are an integral part of these financial statements.
116
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Communications Equipment - 0.9% | ||||||||
756 | Calix, Inc. (a) | $ | 34,103 | |||||
1,691 | Extreme Networks, Inc. (a) | 44,964 | ||||||
875 | Lumentum Holdings, Inc. (a) | 45,815 | ||||||
922 | NetScout Systems, Inc. (a) | 25,770 | ||||||
952 | Viasat, Inc. (a) | 29,455 | ||||||
2,856 | Viavi Solutions, Inc. (a) | 31,045 | ||||||
211,152 | ||||||||
Construction & Engineering - 1.3% | ||||||||
425 | Ameresco, Inc. - Class A (a) | 24,739 | ||||||
2,468 | API Group Corp. (a) | 70,980 | ||||||
632 | Arcosa, Inc. | 48,778 | ||||||
462 | Comfort Systems USA, Inc. | 80,374 | ||||||
368 | Dycom Industries, Inc. (a) | 36,645 | ||||||
1,888 | Fluor Corp. (a) | 58,490 | ||||||
320,006 | ||||||||
Construction Machinery & Heavy Transportation Equipment - 0.8% | ||||||||
1,190 | Allison Transmission Holdings, Inc. | 69,841 | ||||||
782 | Federal Signal Corp. | 47,772 | ||||||
887 | Terex Corp. | 52,005 | ||||||
1,100 | Trinity Industries, Inc. | 28,842 | ||||||
198,460 | ||||||||
Construction Materials - 0.6% | ||||||||
469 | Eagle Materials, Inc. | 86,470 | ||||||
1,583 | Summit Materials, Inc. - Class A (a) | 57,273 | ||||||
143,743 | ||||||||
Consumer Electronics - 0.1% | ||||||||
1,639 | Sonos, Inc. (a) | 28,092 | ||||||
Consumer Finance - 0.9% | ||||||||
493 | FirstCash Holdings, Inc. | 46,973 | ||||||
1,190 | Navient Corp. | 22,658 | ||||||
175 | Nelnet, Inc. - Class A | 17,269 | ||||||
1,568 | OneMain Holdings, Inc. | 71,313 | ||||||
3,133 | SLM Corp. | 50,692 | ||||||
208,905 | ||||||||
Consumer Staples Merchandise Retail - 0.1% | ||||||||
325 | PriceSmart, Inc. | 25,262 | ||||||
Data Processing & Outsourced Services - 0.5% | ||||||||
796 | Maximus, Inc. | 66,673 | ||||||
238 | TTEC Holdings, Inc. | 8,197 | ||||||
1,811 | Verra Mobility Corp. (a) | 38,013 | ||||||
112,883 | ||||||||
Diversified Chemicals - 0.3% | ||||||||
1,924 | Chemours Co. | 71,150 |
The accompanying notes are an integral part of these financial statements.
117
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Diversified Financial Services - 0.2% | ||||||||
1,056 | Jackson Financial, Inc. - Class A | $ | 34,868 | |||||
Diversified Real Estate Activities - 0.1% | ||||||||
478 | St Joe Co. | 30,343 | ||||||
Diversified Support Services - 0.2% | ||||||||
825 | Driven Brands Holdings, Inc. (a) | 21,343 | ||||||
193 | UniFirst Corp. | 31,324 | ||||||
52,667 | ||||||||
Education Services - 0.9% | ||||||||
750 | Bright Horizons Family Solutions, Inc. (a) | 72,773 | ||||||
1,564 | Chegg, Inc. (a) | 15,843 | ||||||
404 | Duolingo, Inc. (a) | 62,697 | ||||||
46 | Graham Holdings Co. - Class B | 26,991 | ||||||
393 | Grand Canyon Education, Inc. (a) | 42,660 | ||||||
220,964 | ||||||||
Electric Utilities - 1.5% | ||||||||
754 | ALLETE, Inc. | 43,302 | ||||||
1,423 | Hawaiian Electric Industries, Inc. | 54,629 | ||||||
663 | IDACORP, Inc. | 68,170 | ||||||
470 | MGE Energy, Inc. | 37,713 | ||||||
534 | Otter Tail Corp. | 43,259 | ||||||
1,105 | PNM Resources, Inc. | 49,526 | ||||||
1,164 | Portland General Electric Co. | 55,488 | ||||||
352,087 | ||||||||
Electrical Components & Equipment - 1.5% | ||||||||
1,942 | Array Technologies, Inc. (a) | 36,995 | ||||||
510 | Atkore, Inc. (a) | 80,922 | ||||||
3,779 | ChargePoint Holdings, Inc. (a)(c) | 32,726 | ||||||
222 | Encore Wire Corp. | 37,893 | ||||||
523 | EnerSys | 56,651 | ||||||
496 | Fluence Energy, Inc. (a) | 14,503 | ||||||
2,170 | Shoals Technologies Group, Inc. - Class A (a) | 56,333 | ||||||
1,073 | SunPower Corp. (a) | 10,591 | ||||||
293 | Vicor Corp. (a) | 27,035 | ||||||
353,649 | ||||||||
Electronic Components - 0.6% | ||||||||
553 | Belden, Inc. | 53,442 | ||||||
245 | Rogers Corp. (a) | 41,309 | ||||||
1,707 | Vishay Intertechnology, Inc. | 48,052 | ||||||
142,803 | ||||||||
Electronic Equipment & Instruments - 1.0% | ||||||||
485 | Advanced Energy Industries, Inc. | 60,712 | ||||||
389 | Badger Meter, Inc. | 64,045 | ||||||
581 | Itron, Inc. (a) | 45,707 | ||||||
2,063 | Vontier Corp. | 63,809 | ||||||
234,273 |
The accompanying notes are an integral part of these financial statements.
118
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Electronic Manufacturing Services - 0.6% | ||||||||
375 | IPG Photonics Corp. (a) | $ | 49,293 | |||||
352 | Plexus Corp. (a) | 34,667 | ||||||
766 | Sanmina Corp. (a) | 47,077 | ||||||
131,037 | ||||||||
Environmental & Facilities Services - 0.6% | ||||||||
871 | ABM Industries, Inc. | 40,310 | ||||||
668 | Casella Waste Systems, Inc. - Class A (a) | 53,901 | ||||||
1,232 | Stericycle, Inc. (a) | 52,348 | ||||||
146,559 | ||||||||
Fertilizers & Agricultural Chemicals - 0.2% | ||||||||
531 | Scotts Miracle-Gro Co. | 37,191 | ||||||
Food Distributors - 0.1% | ||||||||
752 | United Natural Foods, Inc. (a) | 15,642 | ||||||
Food Retail - 0.4% | ||||||||
1,159 | Grocery Outlet Holding Corp. (a) | 38,769 | ||||||
1,361 | Sprouts Farmers Market, Inc. (a) | 53,419 | ||||||
206 | Weis Markets, Inc. | 13,666 | ||||||
105,854 | ||||||||
Footwear - 0.1% | ||||||||
918 | Steven Madden Ltd. | 30,643 | ||||||
Forest Products - 0.3% | ||||||||
835 | Louisiana-Pacific Corp. | 63,569 | ||||||
Gas Utilities - 1.2% | ||||||||
1,195 | National Fuel Gas Co. | 63,466 | ||||||
1,267 | New Jersey Resources Corp. | 56,635 | ||||||
710 | ONE Gas, Inc. | 56,182 | ||||||
901 | Southwest Gas Holdings, Inc. | 59,412 | ||||||
667 | Spire, Inc. | 42,401 | ||||||
278,096 | ||||||||
Health Care Distributors - 0.2% | ||||||||
886 | AdaptHealth Corp. (a) | 12,174 | ||||||
1,143 | Patterson Cos., Inc. | 37,593 | ||||||
49,767 | ||||||||
Health Care Equipment - 2.1% | ||||||||
632 | Axonics, Inc. (a) | 38,154 | ||||||
393 | CONMED Corp. | 47,573 | ||||||
651 | Enovis Corp. (a) | 41,599 | ||||||
613 | Glaukos Corp. (a) | 47,287 | ||||||
568 | Inari Medical, Inc. (a) | 32,416 | ||||||
884 | Inmode Ltd. ADR (a)(b) | 37,932 | ||||||
428 | Integer Holdings Corp. (a) | 39,581 | ||||||
935 | Integra LifeSciences Holdings Corp. (a) | 42,514 |
The accompanying notes are an integral part of these financial statements.
119
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
393 | iRhythm Technologies, Inc. (a) | $ | 41,289 | |||||
702 | LivaNova PLC ADR (a)(b) | 41,032 | ||||||
683 | NuVasive, Inc. (a) | 28,146 | ||||||
580 | Omnicell, Inc. (a) | 36,627 | ||||||
851 | Tandem Diabetes Care, Inc. (a) | 29,717 | ||||||
503,867 | ||||||||
Health Care Facilities - 0.6% | ||||||||
705 | Ensign Group, Inc. | 68,293 | ||||||
1,365 | Select Medical Holdings Corp. | 40,964 | ||||||
887 | Surgery Partners, Inc. (a) | 34,265 | ||||||
143,522 | ||||||||
Health Care Services - 1.3% | ||||||||
425 | Agiliti, Inc. (a) | 7,297 | ||||||
418 | Amedisys, Inc. (a) | 37,971 | ||||||
528 | AMN Healthcare Services, Inc. (a) | 56,575 | ||||||
119 | CorVel Corp. (a) | 24,343 | ||||||
1,280 | Guardant Health, Inc. (a) | 49,946 | ||||||
714 | MSP Recovery, Inc. (a) | 145 | ||||||
2,195 | Option Care Health, Inc. (a) | 74,147 | ||||||
1,514 | Premier, Inc. - Class A | 42,014 | ||||||
819 | Privia Health Group, Inc. (a) | 22,866 | ||||||
315,304 | ||||||||
Health Care Supplies - 1.4% | ||||||||
654 | Haemonetics Corp. (a) | 60,325 | ||||||
303 | ICU Medical, Inc. (a) | 53,989 | ||||||
871 | Lantheus Holdings, Inc. (a) | 75,333 | ||||||
734 | Merit Medical Systems, Inc. (a) | 54,808 | ||||||
2,588 | Neogen Corp. (a) | 60,016 | ||||||
622 | STAAR Surgical Co. (a) | 34,067 | ||||||
338,538 | ||||||||
Health Care Technology - 0.6% | ||||||||
1,515 | Certara, Inc. (a) | 29,497 | ||||||
1,388 | Evolent Health, Inc. - Class A (a) | 42,181 | ||||||
936 | GoodRx Holdings, Inc. - Class A (a) | 8,649 | ||||||
2,029 | Teladoc Health, Inc. (a) | 60,403 | ||||||
140,730 | ||||||||
Heavy Electrical Equipment - 0.2% | ||||||||
2,341 | Bloom Energy Corp. - Class A (a) | 41,810 | ||||||
687 | NuScale Power Corp. (a) | 5,207 | ||||||
47,017 | ||||||||
Home Furnishings - 0.2% | ||||||||
1,684 | Leggett & Platt, Inc. | 49,274 | ||||||
Homebuilding - 1.6% | ||||||||
104 | Cavco Industries, Inc. (a) | 30,748 | ||||||
313 | Installed Building Products, Inc. | 46,330 | ||||||
969 | KB Home | 52,297 |
The accompanying notes are an integral part of these financial statements.
120
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
264 | LGI Homes, Inc. (a) | $ | 36,630 | |||||
752 | MDC Holdings, Inc. | 38,563 | ||||||
468 | Meritage Homes Corp. | 69,709 | ||||||
683 | Skyline Champion Corp. (a) | 47,578 | ||||||
1,366 | Taylor Morrison Home Corp. (a) | 66,142 | ||||||
387,997 | ||||||||
Hotels, Resorts & Cruise Lines - 0.5% | ||||||||
189 | Global Business Travel Group I (a) | 1,331 | ||||||
1,092 | Hilton Grand Vacations, Inc. (a) | 50,778 | ||||||
4,200 | Sabre Corp. (a) | 17,220 | ||||||
969 | Travel + Leisure Co. | 39,467 | ||||||
108,796 | ||||||||
Household Appliances - 0.2% | ||||||||
306 | Helen of Troy Ltd. ADR (a)(b) | 43,238 | ||||||
Household Products - 0.5% | ||||||||
965 | Energizer Holdings, Inc. | 34,451 | ||||||
528 | Spectrum Brands Holdings, Inc. | 41,400 | ||||||
178 | WD-40 Co. | 40,851 | ||||||
116,702 | ||||||||
Human Resource & Employment Services - 1.3% | ||||||||
4,361 | Alight, Inc. - Class A (a) | 42,651 | ||||||
621 | ASGN, Inc. (a) | 47,395 | ||||||
471 | Insperity, Inc. | 55,413 | ||||||
664 | Korn Ferry | 34,980 | ||||||
669 | ManpowerGroup, Inc. | 52,771 | ||||||
871 | Paycor HCM, Inc. (a) | 23,395 | ||||||
443 | TriNet Group, Inc. (a) | 46,617 | ||||||
303,222 | ||||||||
Industrial Machinery & Supplies & Components - 2.6% | ||||||||
402 | Albany International Corp. - Class A | 38,705 | ||||||
268 | EnPro Industries, Inc. | 37,193 | ||||||
756 | Esab Corp. | 51,937 | ||||||
325 | ESCO Technologies, Inc. | 32,679 | ||||||
1,685 | Flowserve Corp. | 63,626 | ||||||
531 | Franklin Electric Co., Inc. | 52,473 | ||||||
1,396 | Gates Industrial Corp. PLC ADR (a)(b) | 19,014 | ||||||
801 | Hillenbrand, Inc. | 41,604 | ||||||
415 | John Bean Technologies Corp. | 51,298 | ||||||
148 | Kadant, Inc. | 32,982 | ||||||
1,037 | Kennametal, Inc. | 31,608 | ||||||
738 | Mueller Industries, Inc. | 59,822 | ||||||
580 | SPX Technologies, Inc. (a) | 49,074 | ||||||
359 | Watts Water Technologies, Inc. - Class A | 66,964 | ||||||
628,979 |
The accompanying notes are an integral part of these financial statements.
121
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Insurance Brokers - 0.1% | ||||||||
792 | BRP Group, Inc. - Class A (a) | $ | 19,729 | |||||
256 | Hagerty, Inc. - Class A (a) | 2,260 | ||||||
21,989 | ||||||||
Interactive Home Entertainment - 0.0% (d) | ||||||||
597 | Playtika Holding Corp. (a) | 7,128 | ||||||
Interactive Media & Services - 0.8% | ||||||||
1,203 | Bumble, Inc. - Class A (a) | 22,280 | ||||||
1,024 | IAC, Inc. (a) | 71,270 | ||||||
852 | Rumble, Inc. (a)(c) | 7,344 | ||||||
307 | Shutterstock, Inc. | 15,795 | ||||||
1,345 | TripAdvisor, Inc. (a) | 25,084 | ||||||
599 | Ziff Davis, Inc. (a) | 43,439 | ||||||
185,212 | ||||||||
Internet Services & Infrastructure - 0.2% | ||||||||
731 | DigitalOcean Holdings, Inc. (a) | 36,199 | ||||||
612 | Squarespace, Inc. - Class A (a) | 20,282 | ||||||
56,481 | ||||||||
Investment Banking & Brokerage - 1.0% | ||||||||
414 | Evercore, Inc. - Class A | 55,914 | ||||||
1,411 | Lazard Ltd. - Class A ADR (b) | 49,525 | ||||||
829 | Moelis & Co. - Class A | 40,480 | ||||||
233 | Piper Sandler Cos. | 34,102 | ||||||
289 | PJT Partners, Inc. - Class A | 22,921 | ||||||
1,242 | Virtu Financial, Inc. - Class A | 23,052 | ||||||
225,994 | ||||||||
IT Consulting & Other Services - 0.3% | ||||||||
2,945 | Kyndryl Holdings, Inc. (a) | 40,229 | ||||||
443 | Perficient, Inc. (a) | 28,259 | ||||||
1,088 | Thoughtworks Holding, Inc. (a) | 7,714 | ||||||
76,202 | ||||||||
Leisure Facilities - 0.3% | ||||||||
497 | Bowlero Corp. (a) | 6,029 | ||||||
716 | Life Time Group Holdings, Inc. (a) | 12,952 | ||||||
460 | SeaWorld Entertainment, Inc. (a) | 25,470 | ||||||
982 | Six Flags Entertainment Corp. (a) | 23,470 | ||||||
67,921 | ||||||||
Leisure Products - 0.6% | ||||||||
391 | Acushnet Holdings Corp. | 23,315 | ||||||
4,124 | Peloton Interactive, Inc. - Class A (a) | 40,044 | ||||||
1,837 | Topgolf Callaway Brands Corp. (a) | 36,685 | ||||||
1,126 | YETI Holdings, Inc. (a) | 47,968 | ||||||
148,012 |
The accompanying notes are an integral part of these financial statements.
122
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Life & Health Insurance - 1.0% | ||||||||
1,095 | American Equity Investment Life Holding Co. | $ | 58,769 | |||||
886 | Brighthouse Financial, Inc. (a) | 46,187 | ||||||
1,447 | CNO Financial Group, Inc. | 37,217 | ||||||
208 | F&G Annuities & Life, Inc. | 5,450 | ||||||
6,360 | Genworth Financial, Inc. - Class A (a) | 37,270 | ||||||
2,177 | Lincoln National Corp. | 61,043 | ||||||
245,936 | ||||||||
Life Sciences Tools & Services - 0.7% | ||||||||
894 | Azenta, Inc. (a) | 42,000 | ||||||
1,413 | Maravai LifeSciences Holdings, Inc. - Class A (a) | 15,981 | ||||||
3,005 | Pacific Biosciences of California, Inc. (a) | 39,696 | ||||||
1,260 | Sotera Health Co. (a) | 23,915 | ||||||
1,326 | Syneos Health, Inc. (a) | 56,236 | ||||||
177,828 | ||||||||
Managed Health Care - 0.5% | ||||||||
1,056 | Alignment Healthcare, Inc. (a) | 6,558 | ||||||
1,090 | HealthEquity, Inc. (a) | 74,055 | ||||||
1,007 | Progyny, Inc. (a) | 42,052 | ||||||
122,665 | ||||||||
Marine Transportation - 0.6% | ||||||||
797 | Kirby Corp. (a) | 64,940 | ||||||
459 | Matson, Inc. | 42,898 | ||||||
107,838 | ||||||||
Metal, Glass & Plastic Containers - 0.3% | ||||||||
1,734 | Ardagh Metal Packaging S.A. ADR (b) | 6,555 | ||||||
35 | Greif, Inc. - Class B | 2,767 | ||||||
326 | Greif, Inc. - Class A | 24,114 | ||||||
1,976 | O-I Glass, Inc. (a) | 45,369 | ||||||
78,805 | ||||||||
Mortgage REITs - 0.1% | ||||||||
1,591 | Claros Mortgage Trust, Inc. | 19,601 | ||||||
Movies & Entertainment - 0.3% | ||||||||
6,698 | AMC Entertainment Holdings, Inc. - Class A (a)(c) | 33,289 | ||||||
222 | Madison Square Garden Sports Corp. | 47,231 | ||||||
80,520 | ||||||||
Multi-Utilities - 0.6% | ||||||||
976 | Avista Corp. | 37,713 | ||||||
851 | Black Hills Corp. | 51,341 | ||||||
772 | NorthWestern Corp. | 43,595 | ||||||
132,649 | ||||||||
Office Services & Supplies - 0.3% | ||||||||
479 | MSA Safety, Inc. | 79,514 |
The accompanying notes are an integral part of these financial statements.
123
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Oil & Gas Drilling - 1.0% | ||||||||
1,186 | Helmerich & Payne, Inc. | $ | 53,097 | |||||
1,445 | Noble Corp. PLC ADR (b) | 75,530 | ||||||
2,756 | Patterson-UTI Energy, Inc. | 43,655 | ||||||
8,407 | Transocean Ltd. ADR (a)(b) | 73,982 | ||||||
246,264 | ||||||||
Oil & Gas Equipment & Services - 0.8% | ||||||||
820 | Cactus, Inc. - Class A | 41,640 | ||||||
2,091 | Liberty Energy, Inc. | 34,439 | ||||||
2,521 | NexTier Oilfield Solutions, Inc. (a) | 30,050 | ||||||
1,030 | ProFrac Holding Corp. - Class A (a) | 13,256 | ||||||
938 | Weatherford International PLC ADR (a)(b) | 77,948 | ||||||
197,333 | ||||||||
Oil & Gas Exploration & Production - 1.7% | ||||||||
920 | California Resources Corp. | 49,082 | ||||||
803 | Callon Petroleum Co. (a) | 30,161 | ||||||
2,098 | CNX Resources Corp. (a) | 42,799 | ||||||
1,190 | Comstock Resources, Inc. | 15,173 | ||||||
493 | Crescent Energy Co. - Class A | 5,852 | ||||||
633 | Denbury, Inc. (a) | 55,647 | ||||||
171 | HighPeak Energy, Inc. | 2,591 | ||||||
2,368 | Magnolia Oil & Gas Corp. - Class A | 52,451 | ||||||
972 | Northern Oil and Gas, Inc. | 38,268 | ||||||
1,037 | Sitio Royalties Corp. - Class A | 28,352 | ||||||
1,583 | SM Energy Co. | 57,447 | ||||||
978 | Viper Energy Partners LP | 26,523 | ||||||
404,346 | ||||||||
Oil & Gas Refining & Marketing - 0.1% | ||||||||
374 | CVR Energy, Inc. | 13,741 | ||||||
Oil & Gas Storage & Transportation - 1.2% | ||||||||
4,192 | Antero Midstream Corp. | 50,052 | ||||||
1,259 | DT Midstream, Inc. | 67,382 | ||||||
5,430 | Equitrans Midstream Corp. | 56,309 | ||||||
222 | Excelerate Energy, Inc. - Class A | 4,711 | ||||||
1,329 | Golar LNG Ltd. ADR (b) | 32,055 | ||||||
204 | Kinetik Holdings, Inc. | 7,344 | ||||||
2,398 | Plains GP Holdings LP - Class A | 37,625 | ||||||
699 | Scorpio Tankers, Inc. ADR (b) | 32,881 | ||||||
288,359 | ||||||||
Other Specialty Retail - 0.7% | ||||||||
1,003 | Academy Sports & Outdoors, Inc. | 59,969 | ||||||
2,200 | Leslie’s, Inc. (a) | 14,014 | ||||||
1,063 | National Vision Holdings, Inc. (a) | 22,993 | ||||||
502 | ODP Corp. (a) | 25,040 | ||||||
1,005 | Petco Health & Wellness Co., Inc. (a) | 8,201 | ||||||
566 | Signet Jewelers Ltd. ADR (b) | 45,557 | ||||||
175,774 |
The accompanying notes are an integral part of these financial statements.
124
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Packaged Foods & Meats - 1.5% | ||||||||
494 | Cal-Maine Foods, Inc. | $ | 22,818 | |||||
635 | Freshpet, Inc. (a) | 46,698 | ||||||
1,718 | Hostess Brands, Inc. (a) | 41,301 | ||||||
156 | J & J Snack Foods Corp. | 25,010 | ||||||
255 | Lancaster Colony Corp. | 49,121 | ||||||
690 | Post Holdings, Inc. (a) | 58,857 | ||||||
3 | Seaboard Corp. | 10,815 | ||||||
1,259 | Simply Good Foods Co. (a) | 48,736 | ||||||
166 | Tootsie Roll Industries, Inc. | 5,787 | ||||||
721 | TreeHouse Foods, Inc. (a) | 37,211 | ||||||
886 | Utz Brands, Inc. | 14,841 | ||||||
361,195 | ||||||||
Passenger Airlines - 0.2% | ||||||||
102 | Copa Holdings S.A. - Class A ADR (b) | 12,038 | ||||||
461 | Frontier Group Holdings, Inc. (a) | 4,287 | ||||||
1,022 | JetBlue Airways Corp. (a) | 7,941 | ||||||
3,673 | Joby Aviation, Inc. (a) | 32,873 | ||||||
57,139 | ||||||||
Personal Care Products - 0.8% | ||||||||
1,752 | BellRing Brands, Inc. (a) | 62,984 | ||||||
671 | elf Beauty, Inc. (a) | 78,319 | ||||||
240 | Inter Parfums, Inc. | 35,894 | ||||||
1,108 | Olaplex Holdings, Inc. (a) | 3,989 | ||||||
181,186 | ||||||||
Pharmaceuticals - 1.3% | ||||||||
667 | Amylyx Pharmaceuticals, Inc. (a) | 15,641 | ||||||
461 | Axsome Therapeutics, Inc. (a) | 36,175 | ||||||
1,092 | Corcept Therapeutics, Inc. (a) | 27,824 | ||||||
412 | Harmony Biosciences Holdings, Inc. (a) | 14,572 | ||||||
1,140 | Intra-Cellular Therapies, Inc. (a) | 70,498 | ||||||
1,736 | Perrigo Co. PLC ADR (b) | 63,607 | ||||||
650 | Prestige Consumer Healthcare, Inc. (a) | 42,387 | ||||||
1,124 | Revance Therapeutics, Inc. (a) | 26,560 | ||||||
85 | Scilex Holding Co. (a) | 465 | ||||||
698 | Supernus Pharmaceuticals, Inc. (a) | 21,422 | ||||||
319,151 | ||||||||
Property & Casualty Insurance - 1.1% | ||||||||
748 | Assured Guaranty Ltd. ADR (b) | 44,715 | ||||||
1,006 | Axis Capital Holdings Ltd. ADR (b) | 55,451 | ||||||
427 | Hanover Insurance Group, Inc. | 48,456 | ||||||
833 | Kemper Corp. | 42,458 | ||||||
493 | Trupanion, Inc. (a) | 15,209 | ||||||
32 | White Mountains Insurance Group Ltd. ADR (b) | 49,505 | ||||||
255,794 | ||||||||
Publishing - 0.1% | ||||||||
544 | John Wiley & Sons, Inc. - Class A | 18,621 |
The accompanying notes are an integral part of these financial statements.
125
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Real Estate Development - 0.2% | ||||||||
444 | Howard Hughes Corp. (a) | $ | 37,487 | |||||
Real Estate Operating Companies - 0.1% | ||||||||
1,496 | Kennedy-Wilson Holdings, Inc. | 24,684 | ||||||
Real Estate Services - 0.1% | ||||||||
2,074 | Cushman & Wakefield PLC ADR (a)(b) | 20,387 | ||||||
Regional Banks - 6.8% | ||||||||
882 | Ameris Bancorp | 38,499 | ||||||
1,973 | Associated Banc-Corp | 37,388 | ||||||
986 | Atlantic Union Bankshares Corp. | 31,532 | ||||||
748 | Axos Financial, Inc. (a) | 35,156 | ||||||
222 | BancFirst Corp. | 22,178 | ||||||
495 | Bank of Hawaii Corp. | 28,279 | ||||||
1,412 | Bank OZK | 61,747 | ||||||
971 | BankUnited, Inc. | 28,975 | ||||||
2,329 | Cadence Bank | 58,341 | ||||||
918 | Cathay General Bancorp | 34,921 | ||||||
2,705 | Columbia Banking System, Inc. | 60,457 | ||||||
493 | Columbia Financial, Inc. (a) | 8,618 | ||||||
719 | Community Bank System, Inc. | 38,704 | ||||||
1,683 | CVB Financial Corp. | 31,758 | ||||||
2,169 | Eastern Bankshares, Inc. | 30,626 | ||||||
2,313 | First BanCorp/Puerto Rico ADR (b) | 34,348 | ||||||
1,157 | First Financial Bancorp | 26,715 | ||||||
1,819 | First Financial Bankshares, Inc. | 59,281 | ||||||
1,670 | First Hawaiian, Inc. | 34,552 | ||||||
1,091 | First Interstate BancSystem, Inc. - Class A | 31,344 | ||||||
783 | First Merchants Corp. | 25,150 | ||||||
4,746 | FNB Corp. | 60,701 | ||||||
2,091 | Fulton Financial Corp. | 29,901 | ||||||
1,429 | Glacier Bancorp, Inc. | 46,728 | ||||||
1,098 | Hancock Whitney Corp. | 48,323 | ||||||
2,465 | Home BancShares Inc/AR | 59,924 | ||||||
578 | Independent Bank Corp. | 34,825 | ||||||
470 | Independent Bank Group, Inc. | 21,089 | ||||||
733 | International Bancshares Corp. | 36,386 | ||||||
3,747 | Old National Bancorp | 63,811 | ||||||
1,227 | Pacific Premier Bancorp, Inc. | 31,338 | ||||||
1,685 | PacWest Bancorp | 15,671 | ||||||
905 | Popular, Inc. ADR (b) | 65,658 | ||||||
647 | ServisFirst Bancshares, Inc. | 38,613 | ||||||
1,615 | Simmons First National Corp. - Class A | 32,607 | ||||||
615 | Texas Capital Bancshares, Inc. (a) | 39,268 | ||||||
514 | UMB Financial Corp. | 36,494 | ||||||
1,778 | United Bankshares, Inc. | 59,456 |
The accompanying notes are an integral part of these financial statements.
126
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
1,470 | United Community Banks Inc/GA | $ | 42,733 | |||||
801 | Wintrust Financial Corp. | 67,572 | ||||||
799 | WSFS Financial Corp. | 34,956 | ||||||
1,624,623 | ||||||||
Reinsurance - 0.2% | ||||||||
168 | Enstar Group Ltd. ADR (a)(b) | 42,988 | ||||||
Renewable Electricity - 0.3% | ||||||||
665 | Ormat Technologies, Inc. | 54,065 | ||||||
1,329 | Sunnova Energy International, Inc. (a) | 23,470 | ||||||
77,535 | ||||||||
Research & Consulting Services - 0.4% | ||||||||
631 | CBIZ, Inc. (a) | 33,374 | ||||||
667 | Exponent, Inc. | 59,750 | ||||||
93,124 | ||||||||
Restaurants - 0.9% | ||||||||
291 | Cracker Barrel Old Country Store, Inc. | 27,121 | ||||||
408 | Papa John’s International, Inc. | 33,742 | ||||||
504 | Shake Shack, Inc. - Class A (a) | 39,141 | ||||||
2,319 | Wendy’s Co. | 49,835 | ||||||
396 | Wingstop, Inc. | 66,758 | ||||||
216,597 | ||||||||
Security & Alarm Services - 0.2% | ||||||||
595 | Brink’s Co. | 43,411 | ||||||
Semiconductor Materials & Equipment - 0.9% | ||||||||
418 | Axcelis Technologies, Inc. (a) | 83,801 | ||||||
715 | Kulicke & Soffa Industries, Inc. | 42,814 | ||||||
646 | Onto Innovation, Inc. (a) | 80,311 | ||||||
206,926 | ||||||||
Semiconductors - 2.3% | ||||||||
498 | Ambarella, Inc. ADR (a)(b) | 41,543 | ||||||
724 | Cirrus Logic, Inc. (a) | 58,499 | ||||||
1,114 | Credo Technology Group Holding Ltd. ADR (a)(b) | 18,905 | ||||||
572 | Diodes, Inc. (a) | 54,048 | ||||||
303 | Impinj, Inc. (a) | 20,186 | ||||||
723 | MACOM Technology Solutions Holdings, Inc. (a) | 50,552 | ||||||
956 | MaxLinear, Inc. (a) | 23,585 | ||||||
732 | Power Integrations, Inc. | 71,106 | ||||||
1,395 | Rambus, Inc. (a) | 87,341 | ||||||
408 | Silicon Laboratories, Inc. (a) | 60,849 | ||||||
206 | SiTime Corp. (a) | 26,576 | ||||||
510 | Synaptics, Inc. (a) | 46,058 | ||||||
559,248 | ||||||||
Silver - 0.2% | ||||||||
7,297 | Hecla Mining Co. | 42,031 |
The accompanying notes are an integral part of these financial statements.
127
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Soft Drinks & Non-alcoholic Beverages - 0.2% | ||||||||
62 | Coca-Cola Consolidated, Inc. | $ | 39,271 | |||||
291 | National Beverage Corp. (a) | 15,379 | ||||||
54,650 | ||||||||
Specialized Consumer Services - 0.0% (d) | ||||||||
1,193 | Mister Car Wash, Inc. (a) | 11,846 | ||||||
Specialized Finance - 0.5% | ||||||||
10,066 | SoFi Technologies, Inc. (a) | 115,256 | ||||||
Specialty Chemicals - 2.2% | ||||||||
1,169 | Avient Corp. | 47,380 | ||||||
427 | Balchem Corp. | 57,534 | ||||||
2,925 | Element Solutions, Inc. | 61,308 | ||||||
18,049 | Ginkgo Bioworks Holdings, Inc. (a)(c) | 45,303 | ||||||
706 | HB Fuller Co. | 52,265 | ||||||
446 | Ingevity Corp. (a) | 28,553 | ||||||
318 | Innospec, Inc. | 34,071 | ||||||
2,388 | Livent Corp. (a) | 58,793 | ||||||
91 | NewMarket Corp. | 41,105 | ||||||
178 | Quaker Chemical Corp. | 35,668 | ||||||
544 | Sensient Technologies Corp. | 34,838 | ||||||
272 | Stepan Co. | 26,063 | ||||||
522,881 | ||||||||
Steel - 0.6% | ||||||||
174 | Alpha Metallurgical Resources, Inc. | 30,140 | ||||||
1,666 | ATI, Inc. (a) | 79,435 | ||||||
410 | Worthington Industries, Inc. | 30,594 | ||||||
140,169 | ||||||||
Systems Software - 1.7% | ||||||||
534 | Appian Corp. - Class A (a) | 27,512 | ||||||
581 | CommVault Systems, Inc. (a) | 45,277 | ||||||
546 | Progress Software Corp. | 32,793 | ||||||
425 | Qualys, Inc. (a) | 58,990 | ||||||
2,984 | SentinelOne, Inc. - Class A (a) | 49,743 | ||||||
1,472 | Tenable Holdings, Inc. (a) | 71,628 | ||||||
1,294 | Teradata Corp. (a) | 73,564 | ||||||
1,355 | Varonis Systems, Inc. (a) | 38,889 | ||||||
398,396 | ||||||||
Technology Distributors - 0.5% | ||||||||
1,175 | Avnet, Inc. | 56,988 | ||||||
427 | Insight Enterprises, Inc. (a) | 62,637 | ||||||
119,625 | ||||||||
Technology Hardware, Storage & Peripherals - 0.9% | ||||||||
600 | Super Micro Computer, Inc. (a) | 198,162 | ||||||
1,379 | Xerox Holdings Corp. | 22,036 | ||||||
220,198 |
The accompanying notes are an integral part of these financial statements.
128
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Tires & Rubber - 0.3% | ||||||||
3,793 | Goodyear Tire & Rubber Co. (a) | $ | 60,991 | |||||
Trading Companies & Distributors - 2.9% | ||||||||
1,343 | Air Lease Corp. | 56,863 | ||||||
500 | Applied Industrial Technologies, Inc. | 72,495 | ||||||
646 | Beacon Roofing Supply, Inc. (a) | 55,343 | ||||||
512 | Boise Cascade Co. | 52,987 | ||||||
1,012 | Core & Main, Inc. - Class A (a) | 31,989 | ||||||
464 | GATX Corp. | 58,167 | ||||||
530 | GMS, Inc. (a) | 39,056 | ||||||
347 | Herc Holdings, Inc. | 46,439 | ||||||
326 | McGrath RentCorp | 31,420 | ||||||
601 | MSC Industrial Direct Co., Inc. - Class A | 60,653 | ||||||
546 | Rush Enterprises, Inc. - Class A | 35,315 | ||||||
71 | Rush Enterprises, Inc. - Class B | 4,878 | ||||||
705 | Triton International Ltd. ADR (b) | 59,439 | ||||||
2,082 | Univar Solutions, Inc. (a) | 75,243 | ||||||
680,287 | ||||||||
Transaction & Payment Processing Services - 0.9% | ||||||||
2,654 | Affirm Holdings, Inc. (a) | 51,461 | ||||||
835 | EVERTEC, Inc. ADR (b) | 32,841 | ||||||
1,233 | Flywire Corp. (a) | 42,095 | ||||||
6,360 | Marqeta, Inc. - Class A (a) | 35,489 | ||||||
700 | Shift4 Payments, Inc. - Class A (a) | 48,293 | ||||||
210,179 | ||||||||
Water Utilities - 0.4% | ||||||||
479 | American States Water Co. | 42,348 | ||||||
714 | California Water Service Group | 37,856 | ||||||
365 | SJW Group | 25,718 | ||||||
105,922 | ||||||||
TOTAL COMMON STOCKS (Cost $20,407,266) | 22,207,552 | |||||||
REAL ESTATE INVESTMENT TRUSTS - 6.1% | ||||||||
Diversified REITs - 0.4% | ||||||||
2,486 | Broadstone Net Lease, Inc. | 40,522 | ||||||
1,931 | Essential Properties Realty Trust, Inc. | 47,406 | ||||||
87,928 | ||||||||
Health Care REITs - 0.5% | ||||||||
544 | National Health Investors, Inc. | 29,871 | ||||||
3,086 | Physicians Realty Trust | 45,488 | ||||||
2,979 | Sabra Health Care REIT, Inc. | 38,697 | ||||||
114,056 | ||||||||
Hotel & Resort REITs - 0.6% | ||||||||
2,653 | Apple Hospitality REIT, Inc. | 41,122 | ||||||
2,705 | Park Hotels & Resorts, Inc. | 36,869 | ||||||
684 | Ryman Hospitality Properties, Inc. | 65,178 | ||||||
143,169 |
The accompanying notes are an integral part of these financial statements.
129
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
Industrial REITs - 0.5% | ||||||||
361 | Innovative Industrial Properties, Inc. | $ | 28,602 | |||||
3,744 | LXP Industrial Trust | 37,702 | ||||||
1,060 | Terreno Realty Corp. | 62,900 | ||||||
129,204 | ||||||||
Mortgage REITs - 0.8% | ||||||||
2,100 | Arbor Realty Trust, Inc. (c) | 35,511 | ||||||
2,134 | Blackstone Mortgage Trust, Inc. - Class A | 49,061 | ||||||
1,182 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 30,862 | ||||||
6,292 | Rithm Capital Corp. | 63,423 | ||||||
178,857 | ||||||||
Multi-Family Residential REITs - 0.2% | ||||||||
2,961 | Independence Realty Trust, Inc. | 50,455 | ||||||
Office REITs - 1.3% | ||||||||
1,466 | Corporate Office Properties Trust | 38,116 | ||||||
1,956 | Cousins Properties, Inc. | 47,785 | ||||||
2,160 | Douglas Emmett, Inc. | 31,752 | ||||||
1,394 | Equity Commonwealth | 27,308 | ||||||
1,361 | Highwoods Properties, Inc. | 34,392 | ||||||
1,497 | Kilroy Realty Corp. | 53,443 | ||||||
833 | SL Green Realty Corp. | 31,412 | ||||||
2,295 | Vornado Realty Trust | 51,592 | ||||||
315,800 | ||||||||
Other Specialized REITs - 0.4% | ||||||||
971 | EPR Properties | 43,345 | ||||||
1,175 | Four Corners Property Trust, Inc. | 30,903 | ||||||
1,853 | Outfront Media, Inc. | 28,647 | ||||||
102,895 | ||||||||
Retail REITs - 0.8% | ||||||||
2,878 | Kite Realty Group Trust | 65,849 | ||||||
2,843 | Macerich Co. | 36,248 | ||||||
1,513 | Phillips Edison & Co., Inc. | 53,424 | ||||||
2,356 | SITE Centers Corp. | 33,102 | ||||||
188,623 | ||||||||
Self-Storage REITs - 0.2% | ||||||||
1,089 | National Storage Affiliates Trust | 36,797 | ||||||
Timber REITs - 0.5% | ||||||||
1,039 | PotlatchDeltic Corp. | 55,722 | ||||||
1,887 | Rayonier, Inc. | 62,497 | ||||||
118,219 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,378,162) | 1,466,003 |
The accompanying notes are an integral part of these financial statements.
130
Strive Small-Cap ETF |
Schedule of Investments (Continued) |
July 31, 2023 |
Shares | Value | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.0% | ||||||||
248,817 | First American Government Obligations Fund - Class X, 5.14% (e) | $ | 248,817 | |||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $248,817) | 248,817 | |||||||
MONEY MARKET FUNDS - 0.4% | ||||||||
102,793 | First American Government Obligations Fund - Class X, 5.14% (e) | 102,793 | ||||||
TOTAL MONEY MARKET FUNDS (Cost $102,793) | 102,793 | |||||||
TOTAL INVESTMENTS (Cost $22,137,038) - 100.8% | $ | 24,025,165 | ||||||
Other Liabilities in Excess of Assets - (0.8%) | (185,583 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 23,839,582 |
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 July 31, 2023. Total loaned securities had a market value of $247,441 as of July 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.
131
STATEMENTS OF ASSETS AND LIABILITIES
July 31, 2023
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(1) | $ | 360,071,308 | $ | 251,680,035 | $ | 36,619,204 | $ | 153,905,566 | ||||||||
Dividends and interest receivable | 229,067 | 169,978 | 15,384 | 467,223 | ||||||||||||
Receivable for return of capital | 69,865 | 2,992 | - | 1,275 | ||||||||||||
Securities lending income receivable (Note 5) | 552 | 497 | 36 | - | ||||||||||||
Receivable for fund shares sold | - | 1,464,350 | 366,264 | - | ||||||||||||
Foreign currencies, at value | - | - | - | 989 | ||||||||||||
Prepaid expenses and other assets | - | - | - | 143 | ||||||||||||
Total assets | 360,370,792 | 253,317,852 | 37,000,888 | 154,375,196 | ||||||||||||
Liabilities: | ||||||||||||||||
Accrued investment advisory fees | 119,416 | 10,845 | 11,386 | 41,068 | ||||||||||||
Due to securities lending agent (Note 5) | 48,000 | 7,301 | - | - | ||||||||||||
Payable for investment securities purchased | - | 1,431,193 | 363,096 | 86,708 | ||||||||||||
Deferred tax payable | - | - | - | 520,417 | ||||||||||||
Spot trade payable | - | - | - | - | ||||||||||||
Total liabilities | 167,416 | 1,449,339 | 374,482 | 648,193 | ||||||||||||
Net Assets | $ | 360,203,376 | $ | 251,868,513 | $ | 36,626,406 | $ | 153,727,003 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in capital | $ | 341,355,043 | $ | 221,862,100 | $ | 28,070,355 | $ | 144,351,951 | ||||||||
Total distributable earnings (accumulated deficit) | 18,848,333 | 30,006,413 | 8,556,051 | 9,375,052 | ||||||||||||
Net Assets: | $ | 360,203,376 | $ | 251,868,513 | $ | 36,626,406 | $ | 153,727,003 | ||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||
Net Assets | $ | 360,203,376 | $ | 251,868,513 | $ | 36,626,406 | $ | 153,727,003 | ||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 12,260,000 | 8,600,000 | 1,000,000 | 5,700,000 | ||||||||||||
Net Asset Value per Share | $ | 29.38 | $ | 29.29 | $ | 36.63 | $ | 26.97 | ||||||||
Cost of Investments in Securities | $ | 339,240,668 | $ | 221,588,951 | $ | 27,930,179 | $ | 144,105,855 | ||||||||
Cost of Foreign Currency | $ | - | $ | - | $ | - | $ | 992 | ||||||||
(1) Includes loaned securities with a value of | $ | 46,755 | $ | 7,094 | $ | - | $ | - |
The accompanying notes are an integral part of these financial statements.
132
STRIVE ETFs
STATEMENTS OF ASSETS AND LIABILITIES
July 31, 2023
Strive
1000 Dividend Growth ETF |
Strive
1000 Growth ETF |
Strive
1000 Value ETF |
Strive Small-Cap ETF |
|||||||||||||
Assets: | ||||||||||||||||
Investments in securities, at value(1) | $ | 22,401,609 | $ | 28,976,478 | $ | 17,093,527 | $ | 24,025,165 | ||||||||
Dividends and interest receivable | 19,652 | 11,875 | 21,067 | 4,364 | ||||||||||||
Securities lending income receivable (Note 5) | 93 | 42 | 369 | 3,314 | ||||||||||||
Receivable for return of capital | - | 205 | 355 | 1,490 | ||||||||||||
Margin deposit | - | 9 | - | - | ||||||||||||
Receivable for investments sold | - | - | - | 57,362 | ||||||||||||
Total assets | 22,421,354 | 28,988,609 | 17,115,318 | 24,091,695 | ||||||||||||
Liabilities: | ||||||||||||||||
Accrued investment advisory fees | 5,993 | 4,143 | 2,407 | 3,296 | ||||||||||||
Due to securities lending agent (Note 5) | - | 6,750 | 12,381 | 248,817 | ||||||||||||
Total liabilities | 5,993 | 10,893 | 14,788 | 252,113 | ||||||||||||
Net Assets | $ | 22,415,361 | $ | 28,977,716 | $ | 17,100,530 | $ | 23,839,582 | ||||||||
Net Assets Consist of: | ||||||||||||||||
Paid-in capital | $ | 21,017,161 | $ | 25,825,518 | $ | 16,172,997 | $ | 22,001,825 | ||||||||
Total distributable earnings (accumulated deficit) | 1,398,200 | 3,152,198 | 927,533 | 1,837,757 | ||||||||||||
Net Assets: | $ | 22,415,361 | $ | 28,977,716 | $ | 17,100,530 | $ | 23,839,582 | ||||||||
Calculation of Net Asset Value Per Share: | ||||||||||||||||
Net Assets | $ | 22,415,361 | $ | 28,977,716 | $ | 17,100,530 | $ | 23,839,582 | ||||||||
Shares Outstanding (unlimited shares of beneficial interest authorized, no par value) | 800,000 | 900,000 | 650,000 | 850,000 | ||||||||||||
Net Asset Value per Share | $ | 28.02 | $ | 32.20 | $ | 26.31 | $ | 28.05 | ||||||||
Cost of Investments in Securities | $ | 20,925,681 | $ | 25,818,999 | $ | 16,157,202 | $ | 22,137,038 | ||||||||
(1) Includes loaned securities with a value of | $ | - | $ | 6,697 | $ | 12,391 | $ | 247,441 |
The accompanying notes are an integral part of these financial statements.
133
STATEMENTS OF OPERATIONS
For the Period Ended July 31, 2023
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 $7,383, $0, $0, and $329,255, respectively) | $ | 11,552,309 | $ | 1,687,856 | $ | 205,910 | $ | 2,108,650 | ||||||||
Interest income | 45,096 | 18,126 | 1,407 | 22,646 | ||||||||||||
Securities lending income (Note 5) | 1,937 | 1,706 | 577 | - | ||||||||||||
Total investment income | 11,599,342 | 1,707,688 | 207,894 | 2,131,296 | ||||||||||||
Expenses: | ||||||||||||||||
Investment advisory fees | 1,376,512 | 59,262 | 63,106 | 191,376 | ||||||||||||
Indian Rupee Tax | - | - | - | 577,586 | ||||||||||||
Net expenses | 1,376,512 | 59,262 | 63,106 | 768,962 | ||||||||||||
Net Investment Income (Loss) | 10,222,830 | 1,648,426 | 144,788 | 1,362,334 | ||||||||||||
Realized and Unrealized Gain (Loss) on Investments: | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 7,725,816 | 729,927 | 645,463 | (1,343,468 | ) | |||||||||||
Foreign currency | - | - | - | 19,402 | ||||||||||||
7,725,816 | 729,927 | 645,463 | (1,324,066 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments | 20,830,640 | 30,091,084 | 8,689,025 | 10,129,430 | ||||||||||||
Foreign currency | - | - | - | (329,732 | ) | |||||||||||
20,830,640 | 30,091,084 | 8,689,025 | 9,799,698 | |||||||||||||
Net realized and unrealized gain (loss) on investments: | 28,556,456 | 30,821,011 | 9,334,488 | 8,475,632 | ||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 38,779,286 | $ | 32,469,437 | $ | 9,479,276 | $ | 9,837,966 |
(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.
134
STRIVE ETFs
STATEMENTS OF OPERATIONS
For the Period Ended July 31, 2023
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, $52, $6, and $80, respectively) | $ | 127,554 | $ | 65,578 | $ | 140,437 | $ | 84,989 | ||||||||
Interest income | 1,177 | 1,574 | 849 | 1,419 | ||||||||||||
Securities lending income (Note 5) | 169 | 142 | 909 | 7,375 | ||||||||||||
Total investment income | 128,900 | 67,294 | 142,195 | 93,783 | ||||||||||||
Expenses: | ||||||||||||||||
Investment advisory fees | 23,607 | 13,177 | 9,131 | 11,124 | ||||||||||||
Net expenses | 23,607 | 13,177 | 9,131 | 11,124 | ||||||||||||
Net Investment Income | 105,293 | 54,117 | 133,064 | 82,659 | ||||||||||||
Realized and Unrealized Gain on Investments: | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments | 30,599 | 28,675 | 1,603 | 133,494 | ||||||||||||
30,599 | 28,675 | 1,603 | 133,494 | |||||||||||||
Net change in unrealized appreciation on: | ||||||||||||||||
Investments | 1,475,928 | 3,157,479 | 936,325 | 1,888,127 | ||||||||||||
1,475,928 | 3,157,479 | 936,325 | 1,888,127 | |||||||||||||
Net realized and unrealized gain on investments: | 1,506,527 | 3,186,154 | 937,928 | 2,021,621 | ||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 1,611,820 | $ | 3,240,271 | $ | 1,070,992 | $ | 2,104,280 |
(1) | The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
135
STATEMENTS OF CHANGES IN NET ASSETS
Strive
U.S. Energy ETF For the Period Ended July 31, 2023(1) |
Strive
500 ETF For the Period Ended July 31, 2023(2) |
Strive
U.S. Semiconductor ETF For the Period Ended July 31, 2023(3) |
Strive Emerging Markets Ex-China ETF For the Period Ended July 31, 2023(4) |
|||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||
Operations: | ||||||||||||||||
Net investment income (loss) | $ | 10,222,830 | $ | 1,648,426 | $ | 144,788 | $ | 1,362,334 | ||||||||
Net realized gain (loss) on investments | 7,725,816 | 729,927 | 645,463 | (1,324,066 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) on investments | 20,830,640 | 30,091,084 | 8,689,025 | 9,799,698 | ||||||||||||
Net increase (decrease) in net assets resulting from operations | 38,779,286 | 32,469,437 | 9,479,276 | 9,837,966 | ||||||||||||
Distributions to Shareholders: | ||||||||||||||||
Distributable earnings | (9,891,239 | ) | (1,419,614 | ) | (137,017 | ) | (462,914 | ) | ||||||||
Total distributions to shareholders | (9,891,239 | ) | (1,419,614 | ) | (137,017 | ) | (462,914 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Proceeds from shares sold | 423,825,077 | 229,618,180 | 31,001,497 | 143,615,130 | ||||||||||||
Payments for shares redeemed | (92,509,749 | ) | (8,799,490 | ) | (3,717,350 | ) | - | |||||||||
Transaction fees (See Note 1) | 1 | - | - | 736,821 | ||||||||||||
Net increase in net assets derived from net change in capital share transactions | 331,315,329 | 220,818,690 | 27,284,147 | 144,351,951 | ||||||||||||
Net Increase in Net Assets | 360,203,376 | 251,868,513 | 36,626,406 | 153,727,003 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | - | - | - | - | ||||||||||||
End of period | $ | 360,203,376 | $ | 251,868,513 | $ | 36,626,406 | $ | 153,727,003 | ||||||||
Changes in Shares Outstanding: | ||||||||||||||||
Shares outstanding, beginning of period | - | - | - | - | ||||||||||||
Shares sold | 15,500,000 | 8,950,000 | 1,150,000 | 5,700,000 | ||||||||||||
Shares repurchased | (3,240,000 | ) | (350,000 | ) | (150,000 | ) | - | |||||||||
Shares outstanding, end of period | 12,260,000 | 8,600,000 | 1,000,000 | 5,700,000 |
(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.
136
STRIVE ETFs
STATEMENTS OF CHANGES IN NET ASSETS
Strive
1000 Dividend Growth ETF For the Period Ended July 31, 2023(1) |
Strive
1000 Growth ETF For the Period Ended July 31, 2023(1) |
Strive 1000 Value ETF For the Period Ended July 31, 2023(1) |
Strive Small-Cap ETF For the Period Ended July 31, 2023(1) |
|||||||||||||
Increase (Decrease) in Net Assets from: | ||||||||||||||||
Operations: | ||||||||||||||||
Net investment income | $ | 105,293 | $ | 54,117 | $ | 133,064 | $ | 82,659 | ||||||||
Net realized gain (loss) on investments | 30,599 | 28,675 | 1,603 | 133,494 | ||||||||||||
Net change in unrealized appreciation on investments | 1,475,928 | 3,157,479 | 936,325 | 1,888,127 | ||||||||||||
Net increase in net assets resulting from operations | 1,611,820 | 3,240,271 | 1,070,992 | 2,104,280 | ||||||||||||
Distributions to Shareholders: | ||||||||||||||||
Distributable earnings | (84,274 | ) | (43,091 | ) | (102,472 | ) | (67,734 | ) | ||||||||
Total distributions to shareholders | (84,274 | ) | (43,091 | ) | (102,472 | ) | (67,734 | ) | ||||||||
Capital Share Transactions: | ||||||||||||||||
Proceeds from shares sold | 22,209,595 | 27,123,990 | 17,387,200 | 24,431,395 | ||||||||||||
Payments for shares redeemed | (1,321,780 | ) | (1,343,455 | ) | (1,255,190 | ) | (2,628,360 | ) | ||||||||
Transaction fees (See Note 1) | - | 1 | - | 1 | ||||||||||||
Net increase in net assets derived from net change in capital share transactions | 20,887,815 | 25,780,536 | 16,132,010 | 21,803,036 | ||||||||||||
Net Increase in Net Assets | 22,415,361 | 28,977,716 | 17,100,530 | 23,839,582 | ||||||||||||
Net Assets: | ||||||||||||||||
Beginning of period | - | - | - | - | ||||||||||||
End of period | $ | 22,415,361 | $ | 28,977,716 | $ | 17,100,530 | $ | 23,839,582 | ||||||||
Changes in Shares Outstanding: | ||||||||||||||||
Shares outstanding, beginning of period | - | - | - | - | ||||||||||||
Shares sold | 850,000 | 950,000 | 700,000 | 950,000 | ||||||||||||
Shares repurchased | (50,000 | ) | (50,000 | ) | (50,000 | ) | (100,000 | ) | ||||||||
Shares outstanding, end of period | 800,000 | 900,000 | 650,000 | 850,000 |
(1) | The Fund commenced operations on November 10, 2022. |
The accompanying notes are an integral part of these financial statements.
137
FINANCIAL HIGHLIGHTS
For the Period Ended July 31, 2023
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) |
Net Investment Income (Loss)(3) |
Portfolio
Turnover Rate(4)(6) |
||||||||||||||
Strive U.S. Energy ETF | |||||||||||||||||||||||||
August 9, 2022(5) to July 31, 2023 | $25.12 | 0.84 | 4.20 | 5.04 | (0.78) | (0.78) | $29.38 | 20.22% | $360,203 | 0.41% | 3.04% | 6% | |||||||||||||
Strive 500 ETF | |||||||||||||||||||||||||
September 15, 2022(5) to July 31, 2023 | $25.10 | 0.35 | 4.10 | 4.45 | (0.26) | (0.26) | $29.29 | 17.85% | $251,869 | 0.05% | 1.52% | 3% | |||||||||||||
Strive U.S. Semiconductor ETF | |||||||||||||||||||||||||
October 6, 2022(5) to July 31, 2023 | $25.07 | 0.22 | 11.53 | 11.75 | (0.19) | (0.19) | $36.63 | 47.03% | $36,626 | 0.40% | 0.92% | 10% | |||||||||||||
Strive Emerging Markets Ex-China ETF | |||||||||||||||||||||||||
January 31, 2023(5) to July 31, 2023 | $25.17 | 0.29 | 1.59 | 1.88 | (0.08) | (0.08) | $26.97 | 7.49% | $153,727 | 1.29% | 2.28% | 39% | |||||||||||||
Strive 1000 Dividend Growth ETF | |||||||||||||||||||||||||
November 10, 2022(5) to July 31, 2023 | $24.59 | 0.30 | 3.35 | 3.65 | (0.22) | (0.22) | $28.02 | 14.90% | $22,415 | 0.35% | 1.56% | 18% | |||||||||||||
Strive 1000 Growth ETF | |||||||||||||||||||||||||
November 10, 2022(5) to July 31, 2023 | $24.51 | 0.16 | 7.64 | 7.80 | (0.11) | (0.11) | $32.20 | 31.88% | $28,978 | 0.18% | 0.74% | 2% | |||||||||||||
Strive 1000 Value ETF | |||||||||||||||||||||||||
November 10, 2022(5) to July 31, 2023 | $24.45 | 0.47 | 1.72 | 2.19 | (0.33) | (0.33) | $26.31 | 9.03% | $17,101 | 0.18% | 2.62% | 4% | |||||||||||||
Strive Small-Cap ETF | |||||||||||||||||||||||||
November 10, 2022(5) to July 31, 2023 | $24.32 | 0.25 | 3.67 | 3.92 | (0.19) | (0.19) | $28.05 | 16.20% | $23,840 | 0.18% | 1.34% | 20% |
(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) | Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. | |
(5) | Commencement of operations. | |
(6) | Excludes the impact of in-kind transactions. |
The accompanying Notes to the Financial Statements are an integral part of these Financial Statements.
138
NOTES TO
THE FINANCIAL STATEMENTS
JULY 31, 2023
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 Funds 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 | Bloomberg Emerging Markets ex China Large & 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, 2023 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.
139
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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 shares, called “Creation Units.” These are the blocks of shares for each fund. Strive U.S. Energy ETF and Strive U.S. Semiconductor ETF 10,000 shares, Strive 500 ETF, Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive Small-Cap ETF, and Strive 1000 Value ETF 50,000 shares, Strive Emerging Markets Ex-China 100,000 shares. 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.
Authorized Participants may be required to pay a transaction fee to compensate the Fund as applicable 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 are payable to a Fund, of up to 2.00% of the value of the order in addition to the Standard Transaction Fees. Variable Transaction Fees received by a 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 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. |
140
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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 July 31, 2023, the Funds did hold securities valued by the valuation designee.
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.
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.
141
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
The following is a summary of the fair value classification of the Funds’ investments as of July 31, 2023:
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | |||||||||||||
Strive U.S. Energy ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 358,587,365 | $ | - | $ | - | $ | 358,587,365 | |||||||||
Investments Purchased with Proceeds from Securities Lending | 48,000 | - | - | 48,000 | |||||||||||||
Money Market Funds | 1,435,943 | - | - | 1,435,943 | |||||||||||||
Total Investments in Securities | $ | 360,071,308 | $ | - | $ | - | $ | 360,071,308 | |||||||||
Strive 500 ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 245,476,516 | $ | - | $ | - | $ | 245,476,516 | |||||||||
Real Estate Invesment Trusts | 5,374,507 | - | - | 5,374,507 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 7,301 | - | - | 7,301 | |||||||||||||
Money Market Funds | 821,711 | - | - | 821,711 | |||||||||||||
Total Investments in Securities | $ | 251,680,035 | $ | - | $ | - | $ | 251,680,035 | |||||||||
Strive U.S. Semiconductor ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 36,557,866 | $ | - | $ | - | $ | 36,557,866 | |||||||||
Investments Purchased with Proceeds from Securities Lending | - | - | - | - | |||||||||||||
Money Market Funds | 61,338 | - | - | 61,338 | |||||||||||||
Total Investments in Securities | $ | 36,619,204 | $ | - | $ | - | $ | 36,619,204 | |||||||||
Strive Emerging Markets Ex-China ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 147,665,310 | $ | - | $ | 275,658 | $ | 147,940,968 | |||||||||
Preferred Stocks | 4,972,085 | - | - | 4,972,085 | |||||||||||||
Real Estate Invesment Trusts | 181,519 | - | - | 181,519 | |||||||||||||
Money Market Funds | 810,994 | - | - | 810,994 | |||||||||||||
Total Investments in Securities | $ | 153,629,908 | $ | - | $ | 275,658 | $ | 153,905,566 | |||||||||
Strive 1000 Dividend Growth ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 21,607,127 | $ | - | $ | - | $ | 21,607,127 | |||||||||
Real Estate Invesment Trusts | 711,706 | - | - | 711,706 | |||||||||||||
Money Market Funds | 82,776 | - | - | 82,776 | |||||||||||||
Total Investments in Securities | $ | 22,401,609 | $ | - | $ | - | $ | 22,401,609 | |||||||||
Strive 1000 Growth ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 28,309,737 | $ | - | $ | - | $ | 28,309,737 | |||||||||
Real Estate Invesment Trusts | 601,506 | - | - | 601,506 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 6,750 | - | - | 6,750 | |||||||||||||
Money Market Funds | 58,485 | - | - | 58,485 | |||||||||||||
Total Investments in Securities | $ | 28,976,478 | $ | - | $ | - | $ | 28,976,478 |
142
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
DESCRIPTION | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL | |||||||||||||
Strive 1000 Value ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 16,341,404 | $ | - | $ | - | $ | 16,341,404 | |||||||||
Real Estate Invesment Trusts | 661,329 | - | - | 661,329 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 12,381 | - | - | 12,381 | |||||||||||||
Money Market Funds | 78,413 | - | - | 78,413 | |||||||||||||
Total Investments in Securities | $ | 17,093,527 | $ | - | $ | - | $ | 17,093,527 | |||||||||
Strive Small-Cap ETF | |||||||||||||||||
Assets* | |||||||||||||||||
Common Stocks | $ | 22,207,552 | $ | - | $ | - | $ | 22,207,552 | |||||||||
Real Estate Invesment Trusts | 1,466,003 | - | - | 1,466,003 | |||||||||||||
Investments Purchased with Proceeds from Securities Lending | 248,817 | - | - | 248,817 | |||||||||||||
Money Market Funds | 102,793 | - | - | 102,793 | |||||||||||||
Total Investments in Securities | $ | 24,025,165 | $ | - | $ | - | $ | 24,025,165 |
* | For further detail on each asset class, see the Schedule of Investments |
During the fiscal year ended July 31, 2023. Strive Emerging Markets Ex-China 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 Emerging Markets Ex-China ETF |
||||
Rights | ||||
Value, Beginning of Period | $ | - | ||
Purchases | 124,156 | |||
Proceeds from Sales | - | |||
Net Realized Gains (Losses) | - | |||
Return of Capital | - | |||
Change in Unrealized Appreciation (Depreciation) | 151,502 | |||
Transfers In/(Out) of Level 3 | - | |||
Value, End of Year | 275,658 |
143
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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 year ended July 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 year ended July 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 year ended July 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.
144
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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. |
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. In addition, the Funds realized net capital gains resulting from in-kind redemptions, in which shareholders exchanged Fund shares for securities held by the Funds rather than for cash. Because such gains are not taxable to the Funds, and are not distributed to shareholders, they have been reclassified from distributable earnings to paid-in capital. For the fiscal year ended July 31, 2023. The following table shows the reclassifications made:
Distributable Earnings |
Paid
in Capital |
|||||||
Strive U.S. Energy ETF | $ | (10,039,714 | ) | $ | 10,039,714 | |||
Strive 500 ETF | (1,043,410 | ) | 1,043,410 | |||||
Strive U.S. Semiconductor ETF | (786,208 | ) | 786,208 | |||||
Strive Emerging Markets Ex-China ETF | - | - | ||||||
Strive 1000 Dividend Growth ETF | (129,346 | ) | 129,346 | |||||
Strive 1000 Growth ETF | (44,982 | ) | 44,982 | |||||
Strive 1000 Value ETF | (40,987 | ) | 40,987 | |||||
Strive Small-Cap ETF | (198,789 | ) | 198,789 |
145
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
NOTE 3 – RISKS
An investment in the Funds involves risk, including those described below. There is no assurance that the Funds will achieve its investment objective. An investor may lose money by investing in the Funds. An investment in the Funds 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.
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
146
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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 sampling risk. The Fund’s use of a representative sampling approach will result in it holding a smaller number of securities than are in the Index. As a result, an adverse development respecting a security held by the Fund could result in a greater decline in NAV than would be the case if the Fund held all of the securities in the Index. Conversely, a positive development relating to a security in the Index that is not held by the Fund could cause the Fund to underperform the Index. To the extent the assets in the Fund are smaller, these risks will be greater.
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 Funds.
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.
147
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
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.
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 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 | % |
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.
148
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
As of the end of the current fiscal period, certain 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 year. The values of the securities on loan and payable for collateral due to broker for the Funds were as follows:
Value
of Securities on Loan |
Payable
for Collateral Received* |
Percentage of Net Assets of Securities On Loan |
||||||||||
Strive U.S. Energy ETF | $ | 46,755 | $ | 48,000 | 0.01 | % | ||||||
Strive 500 ETF | 7,094 | 7,301 | 0.00 | %^ | ||||||||
Strive U.S. Semiconductor ETF | - | - | 0.00 | % | ||||||||
Strive Emerging Markets Ex-China ETF | - | - | 0.00 | % | ||||||||
Strive 1000 Dividend Growth ETF | - | - | 0.00 | % | ||||||||
Strive 1000 Growth ETF | 6,697 | 6,750 | 0.02 | % | ||||||||
Strive 1000 Value ETF | 12,391 | 12,381 | 0.07 | % | ||||||||
Strive Small-Cap ETF | 247,441 | 248,817 | 1.04 | % |
* | 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. | |
^ | Rounds to less than 0.005%. |
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 fiscal period, was as follows:
Strive U.S. Energy ETF | $ | 1,937 | ||
Strive 500 ETF | 1,706 | |||
Strive U.S. Semiconductor ETF | 577 | |||
Strive Emerging Markets Ex-China ETF | - | |||
Strive 1000 Dividend Growth ETF | 169 | |||
Strive 1000 Growth ETF | 142 | |||
Strive 1000 Value ETF | 909 | |||
Strive Small-Cap ETF | 7,375 |
149
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
NOTE 6 – PURCHASES AND SALES OF SECURITIES
For the fiscal year ended July 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 | $ | 31,752,328 | $ | 18,703,555 | ||||
Strive 500 ETF | 6,496,319 | 3,129,998 | ||||||
Strive U.S. Semiconductor ETF | 4,116,036 | 1,814,496 | ||||||
Strive Emerging Markets Ex-China ETF | 161,560,064 | 41,486,516 | ||||||
Strive 1000 Dividend Growth ETF | 1,795,575 | 1,616,416 | ||||||
Strive 1000 Growth ETF | 901,821 | 221,353 | ||||||
Strive 1000 Value ETF | 884,892 | 312,708 | ||||||
Strive Small-Cap ETF | 3,756,433 | 1,648,612 |
For the fiscal year ended July 31, 2023. In-kind transactions associated with creations and redemptions were as follows:
Purchases | Sales | |||||||
Strive U.S. Energy ETF | $ | 409,166,878 | $ | 91,608,431 | ||||
Strive 500 ETF | 225,327,456 | 8,631,948 | ||||||
Strive U.S. Semiconductor ETF | 28,578,618 | 3,656,780 | ||||||
Strive Emerging Markets Ex-China ETF | 23,995,597 | - | ||||||
Strive 1000 Dividend Growth ETF | 21,922,446 | 1,288,118 | ||||||
Strive 1000 Growth ETF | 25,335,195 | 288,739 | ||||||
Strive 1000 Value ETF | 15,923,847 | 427,400 | ||||||
Strive Small-Cap ETF | 21,540,304 | 1,984,966 |
For the fiscal year ended July 31, 2023. Short term and long-term gains on in-kind transactions were as follows:
Short Term | Long Term | |||||||
Strive U.S. Energy ETF | $ | 10,039,714 | $ | - | ||||
Strive 500 ETF | 1,043,410 | - | ||||||
Strive U.S. Semiconductor ETF | 786,208 | - | ||||||
Strive Emerging Markets Ex-China ETF | - | - | ||||||
Strive 1000 Dividend Growth ETF | 129,346 | - | ||||||
Strive 1000 Growth ETF | 44,982 | - | ||||||
Strive 1000 Value ETF | 40,987 | - | ||||||
Strive Small-Cap ETF | 198,789 | - |
There were no purchases or sales of U.S. Government securities during the fiscal year ended July 31, 2023.
150
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
NOTE 7 – TAX INFORMATION
The components of tax basis cost of investments and net unrealized appreciation (depreciation) for federal income tax purposes at July 31, 2023 were as follows:
Strive
U.S. Energy ETF |
||||
Tax cost of Investments | $ | 340,403,747 | ||
Gross tax unrealized appreciation | 30,816,758 | |||
Gross tax unrealized depreciation | (11,149,197 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 19,667,561 | ||
Undistributed ordinary income | 331,591 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 331,591 | |||
Other accumulated gain (loss) | (1,150,819 | ) | ||
Total accumulated gain (loss) | $ | 18,848,333 |
Strive
500 ETF |
||||
Tax cost of Investments | $ | 221,704,573 | ||
Gross tax unrealized appreciation | 33,925,270 | |||
Gross tax unrealized depreciation | (3,949,808 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 29,975,462 | ||
Undistributed ordinary income | 229,083 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 229,083 | |||
Other accumulated gain (loss) | (198,132 | ) | ||
Total accumulated gain (loss) | $ | 30,006,413 |
Strive
U.S. Semiconductor ETF |
||||
Tax cost of Investments | $ | 28,049,070 | ||
Gross tax unrealized appreciation | 9,181,233 | |||
Gross tax unrealized depreciation | (611,099 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 8,570,134 | ||
Undistributed ordinary income | 7,771 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 7,771 | |||
Other accumulated gain (loss) | (21,854 | ) | ||
Total accumulated gain (loss) | $ | 8,556,051 |
151
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
Strive
Emerging Markets Ex-China ETF |
||||
Tax cost of Investments | $ | 145,141,793 | ||
Gross tax unrealized appreciation | 13,609,074 | |||
Gross tax unrealized depreciation | (4,845,314 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 8,763,760 | ||
Undistributed ordinary income | 786,005 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 786,005 | |||
Other accumulated gain (loss) | (174,713 | ) | ||
Total accumulated gain (loss) | $ | 9,375,052 |
Strive
1000 Dividend Growth ETF |
||||
Tax cost of Investments | $ | 20,982,610 | ||
Gross tax unrealized appreciation | 1,773,257 | |||
Gross tax unrealized depreciation | (354,258 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 1,418,999 | ||
Undistributed ordinary income | 21,019 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 21,019 | |||
Other accumulated gain (loss) | (41,818 | ) | ||
Total accumulated gain (loss) | $ | 1,398,200 |
Strive
1000 Growth ETF |
||||
Tax cost of Investments | $ | 25,830,280 | ||
Gross tax unrealized appreciation | 3,383,844 | |||
Gross tax unrealized depreciation | (237,646 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 3,146,198 | ||
Undistributed ordinary income | 11,319 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 11,319 | |||
Other accumulated gain (loss) | (5,319 | ) | ||
Total accumulated gain (loss) | $ | 3,152,198 |
152
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
Strive
1000 Value ETF |
||||
Tax cost of Investments | $ | 16,179,867 | ||
Gross tax unrealized appreciation | 1,297,658 | |||
Gross tax unrealized depreciation | (383,998 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 913,660 | ||
Undistributed ordinary income | 33,009 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 33,009 | |||
Other accumulated gain (loss) | (19,136 | ) | ||
Total accumulated gain (loss) | $ | 927,533 |
Strive
Small-Cap ETF |
||||
Tax cost of Investments | $ | 22,164,642 | ||
Gross tax unrealized appreciation | 2,504,780 | |||
Gross tax unrealized depreciation | (644,257 | ) | ||
Net tax unrealized appreciation (depreciation) | $ | 1,860,523 | ||
Undistributed ordinary income | 19,759 | |||
Undistributed long-term gain | - | |||
Total distributable earnings | 19,759 | |||
Other accumulated gain (loss) | (42,525 | ) | ||
Total accumulated gain (loss) | $ | 1,837,757 |
The difference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in REITs, partnerships, passive foreign investment companies and wash sales. Under tax law, certain capital and foreign currency losses realized after October 31 and within the taxable year are deemed to arise on the first business day of the Fund’s next taxable year.
For the fiscal year ended July 31, 2023, the Funds did not defer any Post-October capital losses or qualified late year losses.
At July 31, 2023, the Funds had the following capital loss carryforwards:
Unlimited Short-Term |
Unlimited Long-Term |
|||||||
Strive U.S. Energy ETF | $ | (1,150,819 | ) | $ | - | |||
Strive 500 ETF | (198,132 | ) | - | |||||
Strive U.S. Semiconductor ETF | (21,854 | ) | - | |||||
Strive Emerging Markets Ex-China ETF | (174,713 | ) | - | |||||
Strive 1000 Dividend Growth ETF | (41,818 | ) | - | |||||
Strive 1000 Growth ETF | (5,319 | ) | - | |||||
Strive 1000 Value ETF | (19,136 | ) | - | |||||
Strive Small-Cap ETF | (42,525 | ) | - |
153
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
NOTE 8 – DISTRIBUTIONS TO SHAREHOLDERS
The tax character of distributions paid by the Funds during the fiscal year ended July 31, 2023. Was as follows:
Fiscal Period Ended July 31, 2023 |
||||
Ordinary Income |
||||
Strive U.S. Energy ETF | $ | 9,891,239 | ||
Strive 500 ETF | 1,419,614 | |||
Strive U.S. Semiconductor ETF | 137,017 | |||
Strive Emerging Markets Ex-China ETF | 462,914 | |||
Strive 1000 Dividend Growth ETF | 84,274 | |||
Strive 1000 Growth ETF | 43,091 | |||
Strive 1000 Value ETF | 102,472 | |||
Strive Small-Cap ETF | 67,734 |
NOTE 9 – CHANGE IN INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
On June 9, 2023, the Board of Trustees (“Board”) of the EA Series Trust (the “Trust”), including a majority of the Independent Trustees, upon the recommendation and approval of the Audit Committee of the Board, appointed Tait Weller & Baker, LLP (“Tait”) to serve as the Fund’s independent registered public accounting firm for the Funds for the fiscal year period July 31, 2023. Tait was approved as the auditor for all funds in the Trust. Tait replaces Cohen & Company, Ltd. (“Cohen”) in this role. Cohen did not resign and did not decline to stand for re-election.
During the interim period from inception of the Funds through June 9, 2023, during which Cohen served as the Fund’s independent registered public accounting firm, there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) with Cohen on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Cohen, would have caused it to make a reference in connection with its opinion to the subject matter of the disagreement.
During the interim period from inception of the Funds through June 9, 2023, neither the Funds, nor anyone on their behalf, consulted with Tait with respect to: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might have been rendered on the Fund’s financial statements, and no written report or oral advice was provided that Tait concluded was an important factor considered by the Fund in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) or a “reportable event” (as defined in Item 304(a)(1)(v) of Regulation S-K).
154
STRIVE ETFs
NOTES TO
THE FINANCIAL STATEMENTS (CONTINUED)
JULY 31, 2023
NOTE 10 – Other
Effective July 13, 2023, Wesley Gray, Ph.D., and John Vogel, Ph.d., resigned as Principal Executive Officer and Principal Financial Officer of the Trust, respectively. Patrick Cleary and Sean Hegarty, CPA., were named their replacements as Principal Executive Officer of the Trust. Dr. Gray continues to serve as a Trustee and Chairman of the Board of Trustees.
NOTE 11 – 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. There were no transactions that occurred during the period subsequent to July 31, 2023, that materially impacted the amounts or disclosures in the Funds’ financial statements.
155
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
![]() |
taitweller.com |
To the Shareholders of
Strive ETFs and
The Board of Trustees of EA Series Trust
Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities 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 (the “Funds”), each a series of EA Series Trust (the “Trust”), including the schedules of investments, as of July 31, 2023, the related statements of operations, statements of changes in net assets, and the financial highlights for each of the periods indicated in the table below, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Funds as of July 31, 2023, the results of their operations, the changes in their net assets, and the financial highlights for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
Individual
Funds |
Statement Of Operations |
Statements
Of |
Financial Highlights | |||
Strive U.S. Energy ETF | For the period August 9, 2022 (commencement of operations) to July 31, 2023 | For the period August 9, 2022 (commencement of operations) to July 31, 2023 | For the period August 9, 2022 (commencement of operations) to July 31, 2023 | |||
Strive 500 ETF | For the period September 15, 2022 (commencement of operations) to July 31, 2023 | For the period September 15, 2022 (commencement of operations) to July 31, 2023 | For the period September 15, 2022 (commencement of operations) to July 31, 2023 | |||
Strive U.S. Semiconductor ETF | For the period October 6, 2022 (commencement of operations) to July 31, 2023 | For the period October 6, 2022 (commencement of operations) to July 31, 2023 | For the period October 6, 2022 (commencement of operations) to July 31, 2023 | |||
Strive Emerging Markets Ex-China ETF | For the period January 31, 2023 (commencement of operations) to July 31, 2023 | For the period January 31, 2023 (commencement of operations) to July 31, 2023 | For the period January 31, 2023 (commencement of operations) to July 31, 2023 | |||
Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF and Strive Small-Cap ETF | For the period November 10, 2022 (commencement of operations) to July 31, 2023 | For the period November 10, 2022 (commencement of operations) to July 31, 2023 | For the period November 10, 2022 (commencement of operations) to July 31, 2023 |
156
STRIVE ETFs
To the Shareholders
of
Strive ETFs and
The Board of Trustees of EA Series Trust
Page
2
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We have served as the auditor of one or more of the funds in the Trust since 2023.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2023 by correspondence with the custodian and brokers or through other appropriate auditing procedures when replies from brokers were unable to be obtained. We believe that our audits provide a reasonable basis for our opinion.
![]() | |
TAIT, WELLER & BAKER LLP |
Philadelphia, Pennsylvania
September 28, 2023
157
EXPENSE EXAMPLE (UNAUDITED)
JULY 31, 2023
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 (February 1, 2023 to July 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 | $ | 989.00 | $ | 2.02 | ||||||||
Hypothetical (5% annual return before expenses) | 0.41% | 1,000.00 | 1,022.76 | 2.06 | |||||||||||
Strive 500 ETF1 | |||||||||||||||
Actual | 0.05% | $ | 1,000.00 | $ | 1,140.60 | $ | 0.27 | ||||||||
Hypothetical (5% annual return before expenses) | 0.05% | 1,000.00 | 1,024.55 | 0.25 |
158
STRIVE ETFs
EXPENSE
EXAMPLE (UNAUDITED)
JULY 31, 2023 (CONTINUED)
Annualized Expense Ratio |
Beginning Account Value |
Ending Account Value |
Expenses Paid During the Period |
||||||||||||
Strive U.S. Semiconductor ETF1 | |||||||||||||||
Actual | 0.40% | $ | 1,000.00 | $ | 1,322.00 | $ | 2.30 | ||||||||
Hypothetical (5% annual return before expenses) | 0.40% | 1,000.00 | 1,022.81 | 2.01 | |||||||||||
Strive Emerging Markets Ex-China ETF1 | |||||||||||||||
Actual | 1.29% | $ | 1,000.00 | $ | 1,077.30 | $ | 6.64 | ||||||||
Hypothetical (5% annual return before expenses) | 1.29% | 1,000.00 | 1,018.40 | 6.46 | |||||||||||
Strive 1000 Dividend Growth ETF1 | |||||||||||||||
Actual | 0.35% | $ | 1,000.00 | $ | 1,077.10 | $ | 1.80 | ||||||||
Hypothetical (5% annual return before expenses) | 0.35% | 1,000.00 | 1,023.06 | 1.76 | |||||||||||
Strive 1000 Growth ETF1 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,193.50 | $ | 0.98 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,023.90 | 0.90 | |||||||||||
Strive 1000 Value ETF1 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,011.70 | $ | 0.90 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,023.90 | 0.90 | |||||||||||
Strive Small-Cap ETF1 | |||||||||||||||
Actual | 0.18% | $ | 1,000.00 | $ | 1,044.50 | $ | 0.91 | ||||||||
Hypothetical (5% annual return before expenses) | 0.18% | 1,000.00 | 1,023.90 | 0.90 |
1. | The dollar amounts shown as expenses paid during the period are equal to the annualized six-month expense ratio multiplied by the average account value during the period, multiplied by 181/365, to reflect the one-half year period. |
159
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.
The Trust’s Board of Trustees has designated the Chief Operating Officer of the Adviser as the Program Administrator, responsible for administering the Program and its policies and procedures.
At the June 9, 2023, 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, 2023. The report concluded that the Program appeared effectively tailored to identify potential illiquid scenarios and to enable the Funds to deliver appropriate reporting. In addition, 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.
160
FEDERAL TAX INFORMATION (UNAUDITED)
For the fiscal period ended July 31, 2023, certain dividends paid by the Funds may be subject to a maximum tax rate of 23.8%, as provided for by the Tax Cuts and Jobs Act of 2017. The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:
Strive U.S. Energy ETF | 100.00 | % | ||
Strive 500 ETF | 97.13 | % | ||
Strive U.S. Semiconductor ETF | 100.00 | % | ||
Strive Emerging Markets Ex-China ETF | 60.10 | % | ||
Strive 1000 Dividend Growth ETF | 100.00 | % | ||
Strive 1000 Growth ETF | 100.00 | % | ||
Strive 1000 Value ETF | 96.54 | % | ||
Strive Small-Cap ETF | 74.13 | % |
For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal period ended July 31, 2023 was as follows:
Strive U.S. Energy ETF | 100.00 | % | ||
Strive 500 ETF | 93.95 | % | ||
Strive U.S. Semiconductor ETF | 100.00 | % | ||
Strive Emerging Markets Ex-China ETF | 0.24 | % | ||
Strive 1000 Dividend Growth ETF | 100.00 | % | ||
Strive 1000 Growth ETF | 100.00 | % | ||
Strive 1000 Value ETF | 93.89 | % | ||
Strive Small-Cap ETF | 68.41 | % |
SHORT TERM CAPITAL GAIN
The percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under the Internal Revenue Section 871 (k)(2)(C) for the fiscal period ended July 31, 2023 was as follows:
Strive U.S. Energy ETF | 0.00 | % | ||
Strive 500 ETF | 0.00 | % | ||
Strive U.S. Semiconductor ETF | 0.00 | % | ||
Strive Emerging Markets Ex-China ETF | 0.00 | % | ||
Strive 1000 Dividend Growth ETF | 0.00 | % | ||
Strive 1000 Growth ETF | 0.00 | % | ||
Strive 1000 Value ETF | 0.00 | % | ||
Strive Small-Cap ETF | 0.00 | % |
161
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 |
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). | 42 | 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). | 42 | 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). | 42 | None |
Interested Trustee* | |||||
Wesley R. Gray, Ph.D. Born: 1980 |
Trustee and Chairman; President | Since 2014; 2014 – 2023 | Founder and Executive Managing Member, EA Advisers (2013 – present); Founder and Executive Managing Member, Empirical Finance, LLC d/b/a Alpha Architect (2010 – present). | 42 | 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).
162
STRIVE ETFs
MANAGEMENT OF THE FUNDS (Continued)
OFFICERS TABLE
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 |
Patrick R. Cleary Born: 1982 |
President and Chief Executive Officer; Secretary | Since 2023; Since 2015 | Chief Operating Officer (2014 – 2022) and Managing Member (2014 – present), Alpha Architect, LLC; Chief Executive Officer of EA Advisers (2021 – present). |
Sean Hegarty Born: 1993 |
Treasurer and Chief Financial Officer; Assistant Treasurer | Since 2023; 2022 – 2023 | Chief Operating Officer, EA Advisers (2022 – present); Assistant Vice President – Fund Administration, U.S. Bank Global Fund Services (2018 – 2022); Staff Accountant, Cohen & Company (2015 – 2018). |
Jessica D. Leighty Born: 1981 |
Chief Compliance Officer | Since 2022 | Chief Compliance Officer, Alpha Architect (2021 – Present), Chief Compliance Officer, Snow Capital (2015 – 2021). |
Brian P. Massaro Born: 1997 |
Assistant Treasurer | Since 2023 | Chief Data Officer, EA Advisers (2023 – present); Assistant Operating Officer, EA Advisers (2022 – 2023); Mutual Funds Administrator, U.S. Bank Global Fund Services (2019 – 2022). |
163
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.
164
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
Tait, Weller & Baker LLP
Two Liberty Place
50 South 16th Street, Suite 2900
Philadelphia, Pennsylvania 19102
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