Annual Report | |||||
August 31, 2023 | |||||
Avantis®
Core Fixed Income ETF (AVIG) | |||||
Avantis®
Core Municipal Fixed Income ETF (AVMU) | |||||
Avantis®
Short-Term Fixed Income ETF (AVSF) |
Table of Contents |
Chairman’s Letter | |||||
Avantis Core Fixed Income ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Avantis Core Municipal Fixed Income ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Avantis Short-Term Fixed Income ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Shareholder Fee Examples | |||||
Schedules of Investments | |||||
Statements of Assets and Liabilities | |||||
Statements of Operations | |||||
Statements of Changes in Net Assets | |||||
Notes to Financial Statements | |||||
Financial Highlights | |||||
Report of Independent Registered Public Accounting Firm | |||||
Management | |||||
Approval of Management Agreement | |||||
Liquidity Risk Management Program | |||||
Additional Information |
Chairman's Letter |
Performance |
Avantis Core Fixed Income ETF (AVIG) | |||||||||||||||||
Total Returns as of August 31, 2023 | Average Annual Returns | ||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||
Net Asset Value | -0.67% | -4.84% | 10/13/2020 | ||||||||||||||
Market Price | -0.50% | -4.83% | 10/13/2020 | ||||||||||||||
Bloomberg U.S. Aggregate Bond Index | -1.19% | -4.58% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made October 13, 2020 |
Value on August 31, 2023 | |||||
Net Asset Value — $8,669 | |||||
Bloomberg U.S. Aggregate Bond Index — $8,735 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.15% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2023 | |||||
Avantis Core Fixed Income ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Corporate Bonds | 61.7% | ||||
U.S. Treasury Securities | 24.0% | ||||
U.S. Government Agency Mortgage-Backed Securities | 19.9% | ||||
U.S. Government Agency Securities | 2.5% | ||||
Sovereign Governments and Agencies | 0.4% | ||||
Short-Term Investments | 11.3% | ||||
Forward Sales Commitments | (0.5)% | ||||
Other Assets and Liabilities | (19.3)% |
Performance |
Avantis Core Municipal Fixed Income ETF (AVMU) | |||||||||||||||||
Total Returns as of August 31, 2023 | Average Annual Returns | ||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||
Net Asset Value | 2.22% | -2.03% | 12/8/2020 | ||||||||||||||
Market Price | 2.27% | -2.01% | 12/8/2020 | ||||||||||||||
S&P National AMT-Free Municipal Bond Index | 2.17% | -1.72% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made December 8, 2020 |
Value on August 31, 2023 | |||||
Net Asset Value — $9,455 | |||||
S&P National AMT-Free Municipal Bond Index — $9,538 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.15% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2023 | |||||
Avantis Core Municipal Fixed Income ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Municipal Securities | 98.8% | ||||
Short-Term Investments | 0.7% | ||||
Other Assets and Liabilities | 0.5% | ||||
Top Five States and Territories | % of net assets | ||||
New York | 15.1% | ||||
California | 15.0% | ||||
Texas | 9.2% | ||||
Illinois | 6.7% | ||||
Washington | 4.8% | ||||
Top Five Sectors | % of fund investments | ||||
Special Tax | 25% | ||||
General Obligation (GO) - State | 11% | ||||
General Obligation (GO) - Local | 11% | ||||
Public Power | 10% | ||||
Toll Facilities | 8% |
Performance |
Avantis Short-Term Fixed Income ETF (AVSF) | |||||||||||||||||
Total Returns as of August 31, 2023 | Average Annual Returns | ||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||
Net Asset Value | 1.63% | -1.43% | 10/13/2020 | ||||||||||||||
Market Price | 1.81% | -1.42% | 10/13/2020 | ||||||||||||||
Bloomberg U.S. Aggregate Government/Credit 1-5 Year Index | 1.19% | -1.56% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made October 13, 2020 |
Value on August 31, 2023 | |||||
Net Asset Value — $9,592 | |||||
Bloomberg U.S. Aggregate Government/Credit 1-5 Year Index — $9,556 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.15% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2023 | |||||
Avantis Short-Term Fixed Income ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Corporate Bonds | 66.5% | ||||
U.S. Treasury Securities and Equivalents | 30.0% | ||||
U.S. Government Agency Securities | 2.1% | ||||
Sovereign Governments and Agencies | 0.3% | ||||
Short-Term Investments | 0.6% | ||||
Other Assets and Liabilities | 0.5% |
Shareholder Fee Examples |
Beginning
Account
Value
3/1/23 |
Ending
Account
Value
8/31/23 |
Expenses
Paid
During
Period(1)
3/1/23
- 8/31/23 |
Annualized
Expense
Ratio(1) | |||||||||||
Avantis Core Fixed Income ETF | ||||||||||||||
Actual | $1,000 | $1,014.40 | $0.76 | 0.15% | ||||||||||
Hypothetical | $1,000 | $1,024.45 | $0.77 | 0.15% | ||||||||||
Avantis Core Municipal Fixed Income ETF | ||||||||||||||
Actual | $1,000 | $1,011.00 | $0.76 | 0.15% | ||||||||||
Hypothetical | $1,000 | $1,024.45 | $0.77 | 0.15% | ||||||||||
Avantis Short-Term Fixed Income ETF | ||||||||||||||
Actual | $1,000 | $1,019.50 | $0.76 | 0.15% | ||||||||||
Hypothetical | $1,000 | $1,024.45 | $0.77 | 0.15% |
Schedules of Investments |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
CORPORATE
BONDS — 61.7% |
||||||||
Aerospace
and Defense — 1.8% |
||||||||
Boeing
Co., 2.20%, 2/4/26 |
$ | 600,000 | $ | 553,813 | ||||
Boeing
Co., 2.80%, 3/1/27 |
25,000 | 22,849 | ||||||
Boeing
Co., 5.04%, 5/1/27 |
100,000 | 98,940 | ||||||
Boeing
Co., 5.15%, 5/1/30 |
1,250,000 | 1,230,385 | ||||||
Boeing
Co., 3.60%, 5/1/34 |
200,000 | 169,480 | ||||||
General
Dynamics Corp., 3.75%, 5/15/28 |
13,000 | 12,422 | ||||||
General
Dynamics Corp., 4.25%, 4/1/40 |
1,320,000 | 1,176,946 | ||||||
Huntington
Ingalls Industries, Inc., 3.48%, 12/1/27 |
1,024,000 | 943,817 | ||||||
Lockheed
Martin Corp., 3.55%, 1/15/26 |
338,000 | 327,288 | ||||||
Lockheed
Martin Corp., 3.90%, 6/15/32(1) |
488,000 | 454,107 | ||||||
Lockheed
Martin Corp., 5.25%, 1/15/33 |
2,250,000 | 2,310,628 | ||||||
Lockheed
Martin Corp., 4.50%, 5/15/36 |
990,000 | 939,667 | ||||||
Precision
Castparts Corp., 3.25%, 6/15/25 |
451,000 | 436,698 | ||||||
RTX
Corp., 3.50%, 3/15/27 |
65,000 | 61,408 | ||||||
Textron,
Inc., 3.65%, 3/15/27 |
61,000 | 57,342 | ||||||
Textron,
Inc., 2.45%, 3/15/31 |
489,000 | 402,440 | ||||||
9,198,230 | ||||||||
Air
Freight and Logistics — 0.4% |
||||||||
United
Parcel Service, Inc., 3.40%, 3/15/29 |
1,510,000 | 1,414,708 | ||||||
United
Parcel Service, Inc., 4.875%, 11/15/40 |
710,000 | 684,325 | ||||||
2,099,033 | ||||||||
Automobile
Components — 0.1% |
||||||||
BorgWarner,
Inc., 2.65%, 7/1/27 |
660,000 | 598,429 | ||||||
Automobiles
— 0.8% |
||||||||
American
Honda Finance Corp., 1.00%, 9/10/25 |
100,000 | 91,708 | ||||||
American
Honda Finance Corp., 2.35%, 1/8/27 |
802,000 | 734,578 | ||||||
American
Honda Finance Corp., 2.00%, 3/24/28 |
250,000 | 219,077 | ||||||
General
Motors Co., 4.20%, 10/1/27 |
322,000 | 303,633 | ||||||
General
Motors Financial Co., Inc., 5.10%, 1/17/24 |
44,000 | 43,864 | ||||||
General
Motors Financial Co., Inc., 3.95%, 4/13/24 |
150,000 | 148,067 | ||||||
General
Motors Financial Co., Inc., 4.00%, 10/6/26 |
50,000 | 47,293 | ||||||
General
Motors Financial Co., Inc., 2.35%, 1/8/31 |
90,000 | 69,982 | ||||||
General
Motors Financial Co., Inc., 6.40%, 1/9/33 |
100,000 | 100,744 | ||||||
Toyota
Motor Corp., 2.36%, 3/25/31 |
71,000 | 59,735 | ||||||
Toyota
Motor Credit Corp., 3.95%, 6/30/25 |
450,000 | 439,872 | ||||||
Toyota
Motor Credit Corp., 3.05%, 3/22/27 |
465,000 | 436,719 | ||||||
Toyota
Motor Credit Corp., 1.90%, 4/6/28 |
200,000 | 176,493 | ||||||
Toyota
Motor Credit Corp., 2.15%, 2/13/30 |
100,000 | 85,115 | ||||||
Toyota
Motor Credit Corp., 3.375%, 4/1/30 |
630,000 | 573,758 | ||||||
Toyota
Motor Credit Corp., 1.65%, 1/10/31 |
1,011,000 | 808,516 | ||||||
4,339,154 | ||||||||
Banks
— 9.7% |
||||||||
African
Development Bank, 0.875%, 7/22/26 |
1,373,000 | 1,232,753 | ||||||
Asian
Development Bank, 2.625%, 1/30/24 |
611,000 | 603,950 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Asian
Development Bank, 0.375%, 6/11/24 |
$ | 521,000 | $ | 501,121 | ||||
Asian
Development Bank, 4.125%, 9/27/24 |
35,000 | 34,547 | ||||||
Asian
Development Bank, 0.625%, 10/8/24 |
1,462,000 | 1,389,583 | ||||||
Asian
Development Bank, 2.375%, 8/10/27 |
90,000 | 83,469 | ||||||
Asian
Development Bank, 3.125%, 4/27/32 |
170,000 | 156,150 | ||||||
Asian
Infrastructure Investment Bank, 0.25%, 9/29/23 |
686,000 | 683,671 | ||||||
Asian
Infrastructure Investment Bank, 2.25%, 5/16/24 |
1,450,000 | 1,415,886 | ||||||
Asian
Infrastructure Investment Bank, 0.50%, 5/28/25 |
1,224,000 | 1,128,686 | ||||||
Asian
Infrastructure Investment Bank, 3.75%, 9/14/27(1) |
435,000 | 421,941 | ||||||
Asian
Infrastructure Investment Bank, 4.00%, 1/18/28 |
810,000 | 791,743 | ||||||
Australia
& New Zealand Banking Group Ltd., 5.09%, 12/8/25 |
750,000 | 747,100 | ||||||
Bank
of America Corp., 5.875%, 2/7/42 |
1,325,000 | 1,373,087 | ||||||
Bank
of Montreal, 5.20%, 12/12/24 |
200,000 | 198,963 | ||||||
Bank
of Montreal, 5.20%, 2/1/28 |
70,000 | 69,465 | ||||||
Bank
of Montreal, Series E, 3.30%, 2/5/24 |
735,000 | 727,056 | ||||||
Bank
of Montreal, Series H, 4.25%, 9/14/24 |
140,000 | 137,832 | ||||||
Bank
of Nova Scotia, 3.40%, 2/11/24 |
163,000 | 161,225 | ||||||
Bank
of Nova Scotia, 5.25%, 12/6/24 |
55,000 | 54,722 | ||||||
Bank
of Nova Scotia, 2.70%, 8/3/26 |
250,000 | 232,285 | ||||||
Canadian
Imperial Bank of Commerce, 3.10%, 4/2/24 |
465,000 | 457,797 | ||||||
Citigroup,
Inc., 3.20%, 10/21/26 |
2,300,000 | 2,145,771 | ||||||
Commonwealth
Bank of Australia, 5.08%, 1/10/25 |
1,400,000 | 1,396,225 | ||||||
Council
Of Europe Development Bank, 0.25%, 10/20/23 |
126,000 | 125,205 | ||||||
Council
Of Europe Development Bank, 2.50%, 2/27/24 |
121,000 | 119,224 | ||||||
Council
Of Europe Development Bank, 0.875%, 9/22/26 |
214,000 | 191,285 | ||||||
Discover
Bank, 4.65%, 9/13/28 |
600,000 | 551,699 | ||||||
European
Bank for Reconstruction & Development, 0.50%, 5/19/25 |
215,000 | 199,048 | ||||||
European
Bank for Reconstruction & Development, 0.50%, 1/28/26 |
100,000 | 90,435 | ||||||
European
Investment Bank, 2.625%, 3/15/24 |
130,000 | 128,049 | ||||||
European
Investment Bank, 2.25%, 6/24/24 |
406,000 | 395,782 | ||||||
European
Investment Bank, 1.625%, 3/14/25(1) |
950,000 | 901,722 | ||||||
European
Investment Bank, 0.75%, 9/23/30 |
300,000 | 236,814 | ||||||
European
Investment Bank, 4.875%, 2/15/36 |
411,000 | 431,651 | ||||||
Export
Development Canada, 2.625%, 2/21/24 |
1,300,000 | 1,282,543 | ||||||
Export
Development Canada, 3.375%, 8/26/25 |
1,000,000 | 971,457 | ||||||
Export
Development Canada, 3.875%, 2/14/28 |
1,300,000 | 1,271,040 | ||||||
Inter-American
Development Bank, 0.25%, 11/15/23 |
100,000 | 99,001 | ||||||
Inter-American
Development Bank, 0.875%, 4/3/25 |
275,000 | 257,481 | ||||||
Inter-American
Development Bank, 0.625%, 7/15/25 |
1,278,000 | 1,180,357 | ||||||
Inter-American
Development Bank, 2.00%, 7/23/26 |
850,000 | 789,657 | ||||||
Inter-American
Development Bank, 2.375%, 7/7/27 |
227,000 | 210,534 | ||||||
Inter-American
Development Bank, 3.125%, 9/18/28 |
518,000 | 488,528 | ||||||
International
Bank for Reconstruction & Development, 2.50%, 3/19/24 |
350,000 | 344,305 | ||||||
International
Bank for Reconstruction & Development, 0.75%, 11/24/27 |
1,190,000 | 1,023,290 | ||||||
International
Bank for Reconstruction & Development, 0.875%, 5/14/30 |
894,000 | 715,269 | ||||||
JPMorgan
Chase & Co., 5.50%, 10/15/40 |
1,999,000 | 2,012,649 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Kreditanstalt
fuer Wiederaufbau, 0.25%, 10/19/23 |
$ | 47,000 | $ | 46,696 | ||||
Kreditanstalt
fuer Wiederaufbau, 0.25%, 3/8/24 |
300,000 | 292,221 | ||||||
Kreditanstalt
fuer Wiederaufbau, 2.50%, 11/20/24(1) |
1,017,000 | 983,673 | ||||||
Kreditanstalt
fuer Wiederaufbau, 2.00%, 5/2/25 |
150,000 | 142,778 | ||||||
Kreditanstalt
fuer Wiederaufbau, 1.00%, 10/1/26 |
216,000 | 194,234 | ||||||
Landwirtschaftliche
Rentenbank, 0.50%, 5/27/25 |
1,016,000 | 939,381 | ||||||
Lloyds
Banking Group PLC, 4.55%, 8/16/28 |
60,000 | 56,924 | ||||||
Mitsubishi
UFJ Financial Group, Inc., 3.74%, 3/7/29 |
85,000 | 78,722 | ||||||
Mitsubishi
UFJ Financial Group, Inc., 2.05%, 7/17/30 |
120,000 | 96,632 | ||||||
National
Australia Bank Ltd., 5.13%, 11/22/24 |
1,100,000 | 1,096,111 | ||||||
Oesterreichische
Kontrollbank AG, 1.50%, 2/12/25 |
952,000 | 902,533 | ||||||
PNC
Financial Services Group, Inc., 3.15%, 5/19/27 |
1,200,000 | 1,113,449 | ||||||
Royal
Bank of Canada, 5.66%, 10/25/24 |
850,000 | 850,539 | ||||||
Royal
Bank of Canada, 4.90%, 1/12/28(1) |
325,000 | 320,501 | ||||||
Royal
Bank of Canada, 5.00%, 2/1/33 |
40,000 | 38,807 | ||||||
Santander
Holdings USA, Inc., 4.50%, 7/17/25 |
200,000 | 195,322 | ||||||
Sumitomo
Mitsui Financial Group, Inc., 3.94%, 10/16/23 |
444,000 | 442,995 | ||||||
Sumitomo
Mitsui Financial Group, Inc., 1.40%, 9/17/26 |
150,000 | 132,791 | ||||||
Sumitomo
Mitsui Financial Group, Inc., 3.45%, 1/11/27 |
175,000 | 163,776 | ||||||
Sumitomo
Mitsui Financial Group, Inc., 3.36%, 7/12/27 |
10,000 | 9,292 | ||||||
Toronto-Dominion
Bank, 0.75%, 1/6/26 |
672,000 | 603,909 | ||||||
Toronto-Dominion
Bank, 4.11%, 6/8/27 |
2,397,000 | 2,291,265 | ||||||
US
Bancorp, 3.95%, 11/17/25 |
640,000 | 620,555 | ||||||
US
Bancorp, 3.90%, 4/26/28 |
725,000 | 680,973 | ||||||
US
Bancorp, 1.375%, 7/22/30 |
1,000,000 | 758,857 | ||||||
Wells
Fargo & Co., 3.55%, 9/29/25 |
1,087,000 | 1,043,288 | ||||||
Wells
Fargo & Co., 3.00%, 10/23/26 |
1,419,000 | 1,314,798 | ||||||
Wells
Fargo & Co., 4.15%, 1/24/29 |
300,000 | 283,121 | ||||||
Westpac
Banking Corp., 2.70%, 8/19/26 |
300,000 | 280,116 | ||||||
Westpac
Banking Corp., 3.35%, 3/8/27 |
1,940,000 | 1,831,240 | ||||||
Westpac
Banking Corp., 5.46%, 11/18/27 |
650,000 | 660,111 | ||||||
Westpac
Banking Corp., 3.40%, 1/25/28 |
1,112,000 | 1,046,336 | ||||||
49,673,999 | ||||||||
Beverages
— 1.8% |
||||||||
Anheuser-Busch
Cos. LLC / Anheuser-Busch InBev Worldwide, Inc., 4.70%,
2/1/36 |
1,450,000 | 1,388,782 | ||||||
Anheuser-Busch
InBev Worldwide, Inc., 4.00%, 4/13/28 |
321,000 | 309,304 | ||||||
Anheuser-Busch
InBev Worldwide, Inc., 4.90%, 1/23/31 |
225,000 | 226,079 | ||||||
Anheuser-Busch
InBev Worldwide, Inc., 8.20%, 1/15/39 |
322,000 | 411,785 | ||||||
Anheuser-Busch
InBev Worldwide, Inc., 4.35%, 6/1/40 |
475,000 | 425,420 | ||||||
Brown-Forman
Corp., 4.75%, 4/15/33 |
1,500,000 | 1,485,859 | ||||||
Coca-Cola
Co., 3.45%, 3/25/30 |
729,000 | 678,521 | ||||||
Coca-Cola
Co., 1.375%, 3/15/31 |
973,000 | 768,621 | ||||||
Keurig
Dr Pepper, Inc., 2.55%, 9/15/26 |
60,000 | 55,417 | ||||||
Keurig
Dr Pepper, Inc., 3.20%, 5/1/30 |
619,000 | 549,332 | ||||||
Molson
Coors Beverage Co., 3.00%, 7/15/26 |
1,328,000 | 1,244,720 | ||||||
PepsiCo,
Inc., 3.00%, 10/15/27 |
875,000 | 823,559 | ||||||
PepsiCo,
Inc., 1.625%, 5/1/30 |
792,000 | 652,240 | ||||||
9,019,639 | ||||||||
Biotechnology
— 0.4% |
||||||||
AbbVie,
Inc., 3.20%, 11/21/29 |
272,000 | 245,331 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
AbbVie,
Inc., 4.50%, 5/14/35 |
$ | 2,013,000 | $ | 1,894,839 | ||||
Amgen,
Inc., 2.80%, 8/15/41 |
55,000 | 37,977 | ||||||
2,178,147 | ||||||||
Broadline
Retail — 0.3% |
||||||||
Amazon.com,
Inc., 5.20%, 12/3/25 |
700,000 | 702,490 | ||||||
Amazon.com,
Inc., 1.20%, 6/3/27 |
600,000 | 528,708 | ||||||
Amazon.com,
Inc., 4.55%, 12/1/27 |
40,000 | 39,867 | ||||||
Amazon.com,
Inc., 1.65%, 5/12/28(1) |
200,000 | 174,914 | ||||||
1,445,979 | ||||||||
Capital
Markets — 2.3% |
||||||||
Ameriprise
Financial, Inc., 3.70%, 10/15/24(1) |
475,000 | 465,015 | ||||||
Bank
of New York Mellon Corp., 1.05%, 10/15/26 |
305,000 | 268,338 | ||||||
Bank
of New York Mellon Corp., 3.85%, 4/28/28 |
2,070,000 | 1,970,460 | ||||||
Bank
of New York Mellon Corp., 3.85%, 4/26/29 |
625,000 | 590,104 | ||||||
BlackRock,
Inc., 3.25%, 4/30/29 |
450,000 | 416,324 | ||||||
Brookfield
Finance, Inc., 3.90%, 1/25/28 |
850,000 | 795,024 | ||||||
Charles
Schwab Corp., 3.20%, 3/2/27 |
650,000 | 602,189 | ||||||
Franklin
Resources, Inc., 1.60%, 10/30/30 |
849,000 | 666,427 | ||||||
Goldman
Sachs Group, Inc., 5.70%, 11/1/24 |
140,000 | 139,808 | ||||||
Goldman
Sachs Group, Inc., 3.85%, 1/26/27 |
1,950,000 | 1,851,496 | ||||||
Goldman
Sachs Group, Inc., 3.80%, 3/15/30 |
65,000 | 59,162 | ||||||
Intercontinental
Exchange, Inc., 4.00%, 9/15/27 |
212,000 | 203,260 | ||||||
Intercontinental
Exchange, Inc., 4.35%, 6/15/29 |
135,000 | 129,628 | ||||||
Intercontinental
Exchange, Inc., 4.60%, 3/15/33 |
200,000 | 191,232 | ||||||
Morgan
Stanley, 3.70%, 10/23/24 |
400,000 | 391,627 | ||||||
Morgan
Stanley, 3.625%, 1/20/27 |
125,000 | 118,155 | ||||||
Morgan
Stanley, 7.25%, 4/1/32 |
2,450,000 | 2,788,162 | ||||||
11,646,411 | ||||||||
Chemicals
— 2.6% |
||||||||
CF
Industries, Inc., 5.15%, 3/15/34 |
2,150,000 | 2,031,741 | ||||||
Dow
Chemical Co., 4.80%, 11/30/28 |
1,238,000 | 1,221,193 | ||||||
DuPont
de Nemours, Inc., 5.32%, 11/15/38 |
2,464,000 | 2,418,571 | ||||||
Eastman
Chemical Co., 3.80%, 3/15/25 |
1,857,000 | 1,805,591 | ||||||
LYB
International Finance III LLC, 5.625%, 5/15/33 |
850,000 | 842,370 | ||||||
Mosaic
Co., 4.05%, 11/15/27 |
25,000 | 23,873 | ||||||
Mosaic
Co., 5.45%, 11/15/33 |
1,985,000 | 1,935,609 | ||||||
Nutrien
Ltd., 2.95%, 5/13/30 |
651,000 | 562,294 | ||||||
RPM
International, Inc., 4.55%, 3/1/29 |
858,000 | 805,297 | ||||||
Westlake
Corp., 3.60%, 8/15/26 |
220,000 | 208,719 | ||||||
Westlake
Corp., 3.375%, 6/15/30 |
1,871,000 | 1,619,768 | ||||||
13,475,026 | ||||||||
Commercial
Services and Supplies† |
||||||||
Waste
Management, Inc., 1.15%, 3/15/28 |
50,000 | 42,238 | ||||||
Waste
Management, Inc., 4.625%, 2/15/30 |
65,000 | 63,583 | ||||||
Waste
Management, Inc., 4.15%, 4/15/32 |
20,000 | 18,771 | ||||||
124,592 | ||||||||
Construction
and Engineering — 0.2% |
||||||||
Quanta
Services, Inc., 2.90%, 10/1/30 |
1,060,000 | 894,797 | ||||||
Construction
Materials — 0.1% |
||||||||
Martin
Marietta Materials, Inc., 3.50%, 12/15/27 |
270,000 | 252,633 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Consumer
Finance — 0.4% |
||||||||
American
Express Co., 3.00%, 10/30/24 |
$ | 195,000 | $ | 189,374 | ||||
American
Express Co., 3.95%, 8/1/25 |
500,000 | 485,431 | ||||||
American
Express Co., 1.65%, 11/4/26 |
125,000 | 111,571 | ||||||
American
Express Co., 4.05%, 5/3/29 |
320,000 | 304,188 | ||||||
Capital
One Financial Corp., 3.80%, 1/31/28 |
1,000,000 | 917,586 | ||||||
Discover
Financial Services, 6.70%, 11/29/32 |
30,000 | 29,870 | ||||||
2,038,020 | ||||||||
Consumer
Staples Distribution & Retail — 1.5% |
||||||||
Dollar
General Corp., 5.45%, 7/5/33 |
100,000 | 97,074 | ||||||
Dollar
Tree, Inc., 4.20%, 5/15/28 |
2,414,000 | 2,292,552 | ||||||
Target
Corp., 3.375%, 4/15/29 |
50,000 | 46,797 | ||||||
Target
Corp., 2.65%, 9/15/30 |
1,000,000 | 869,826 | ||||||
Target
Corp., 6.50%, 10/15/37 |
2,310,000 | 2,563,604 | ||||||
Walgreens
Boots Alliance, Inc., 3.45%, 6/1/26 |
308,000 | 291,036 | ||||||
Walgreens
Boots Alliance, Inc., 3.20%, 4/15/30(1) |
333,000 | 282,836 | ||||||
Walmart,
Inc., 2.85%, 7/8/24 |
500,000 | 489,208 | ||||||
Walmart,
Inc., 3.55%, 6/26/25 |
547,000 | 532,795 | ||||||
Walmart,
Inc., 4.15%, 9/9/32(1) |
160,000 | 155,143 | ||||||
Walmart,
Inc., 4.10%, 4/15/33 |
345,000 | 328,974 | ||||||
7,949,845 | ||||||||
Containers
and Packaging — 0.3% |
||||||||
Sonoco
Products Co., 2.85%, 2/1/32(1) |
494,000 | 405,601 | ||||||
WRKCo,
Inc., 3.375%, 9/15/27 |
68,000 | 62,761 | ||||||
WRKCo,
Inc., 4.90%, 3/15/29 |
1,258,000 | 1,211,621 | ||||||
1,679,983 | ||||||||
Diversified
Consumer Services — 0.1% |
||||||||
Novant
Health, Inc., 2.64%, 11/1/36 |
550,000 | 409,093 | ||||||
Diversified
REITs — 0.7% |
||||||||
Boston
Properties LP, 3.65%, 2/1/26 |
250,000 | 235,698 | ||||||
Boston
Properties LP, 2.55%, 4/1/32 |
60,000 | 45,025 | ||||||
Essex
Portfolio LP, 3.875%, 5/1/24 |
85,000 | 83,601 | ||||||
Invitation
Homes Operating Partnership LP, 2.70%, 1/15/34 |
100,000 | 76,135 | ||||||
Prologis
LP, 2.25%, 4/15/30 |
1,460,000 | 1,227,078 | ||||||
Simon
Property Group LP, 4.75%, 3/15/42 |
1,680,000 | 1,431,017 | ||||||
Ventas
Realty LP, 3.50%, 2/1/25 |
415,000 | 399,438 | ||||||
Ventas
Realty LP, 4.75%, 11/15/30 |
300,000 | 281,666 | ||||||
3,779,658 | ||||||||
Diversified
Telecommunication Services — 0.9% |
||||||||
AT&T,
Inc., 2.25%, 2/1/32 |
200,000 | 156,116 | ||||||
Deutsche
Telekom International Finance BV, 8.75%, 6/15/30 |
2,150,000 | 2,532,145 | ||||||
Verizon
Communications, Inc., 3.15%, 3/22/30 |
65,000 | 57,047 | ||||||
Verizon
Communications, Inc., 2.55%, 3/21/31 |
672,000 | 553,570 | ||||||
Verizon
Communications, Inc., 5.05%, 5/9/33 |
100,000 | 97,076 | ||||||
Verizon
Communications, Inc., 4.50%, 8/10/33 |
242,000 | 223,682 | ||||||
Verizon
Communications, Inc., 4.40%, 11/1/34 |
1,310,000 | 1,187,489 | ||||||
4,807,125 | ||||||||
Electric
Utilities — 4.0% |
||||||||
American
Electric Power Co., Inc., 5.95%, 11/1/32 |
950,000 | 977,467 | ||||||
Berkshire
Hathaway Energy Co., 3.25%, 4/15/28 |
100,000 | 92,087 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
CenterPoint
Energy Houston Electric LLC, 6.95%, 3/15/33 |
$ | 1,331,000 | $ | 1,492,570 | ||||
Commonwealth
Edison Co., 5.90%, 3/15/36 |
2,390,000 | 2,467,534 | ||||||
DTE
Electric Co., 2.25%, 3/1/30 |
1,024,000 | 870,300 | ||||||
DTE
Electric Co., Series C, 2.625%, 3/1/31 |
361,000 | 307,506 | ||||||
Duke
Energy Carolinas LLC, Series A, 6.00%, 12/1/28 |
1,531,000 | 1,590,943 | ||||||
Duke
Energy Florida LLC, 3.80%, 7/15/28 |
290,000 | 276,372 | ||||||
Duke
Energy Ohio, Inc., 2.125%, 6/1/30 |
210,000 | 173,090 | ||||||
Enel
Americas SA, 4.00%, 10/25/26 |
85,000 | 80,396 | ||||||
Entergy
Arkansas LLC, 4.00%, 6/1/28 |
623,000 | 595,194 | ||||||
Entergy
Louisiana LLC, 2.40%, 10/1/26 |
686,000 | 629,400 | ||||||
Entergy
Louisiana LLC, 3.05%, 6/1/31 |
302,000 | 259,540 | ||||||
MidAmerican
Energy Co., 6.75%, 12/30/31 |
900,000 | 989,576 | ||||||
NextEra
Energy Capital Holdings, Inc., 2.25%, 6/1/30 |
2,100,000 | 1,727,765 | ||||||
Northern
States Power Co., 6.25%, 6/1/36 |
1,720,000 | 1,849,103 | ||||||
PacifiCorp,
2.70%, 9/15/30 |
90,000 | 75,310 | ||||||
PPL
Electric Utilities Corp., 5.00%, 5/15/33 |
30,000 | 29,713 | ||||||
PPL
Electric Utilities Corp., 6.25%, 5/15/39 |
1,443,000 | 1,544,401 | ||||||
Puget
Energy, Inc., 2.38%, 6/15/28 |
1,989,000 | 1,718,321 | ||||||
Puget
Energy, Inc., 4.10%, 6/15/30 |
307,000 | 274,990 | ||||||
Southern
California Edison Co., 6.05%, 3/15/39 |
30,000 | 30,312 | ||||||
Union
Electric Co., 2.95%, 3/15/30 |
2,172,000 | 1,909,144 | ||||||
Virginia
Electric & Power Co., Series A, 3.50%, 3/15/27 |
13,000 | 12,289 | ||||||
Virginia
Electric & Power Co., Series B, 6.00%, 1/15/36 |
300,000 | 310,463 | ||||||
Wisconsin
Power & Light Co., 3.00%, 7/1/29 |
422,000 | 377,505 | ||||||
20,661,291 | ||||||||
Electronic
Equipment, Instruments and Components — 0.3% | ||||||||
Flex
Ltd., 3.75%, 2/1/26 |
50,000 | 47,791 | ||||||
Jabil,
Inc., 3.00%, 1/15/31 |
400,000 | 334,483 | ||||||
Trimble,
Inc., 4.90%, 6/15/28 |
500,000 | 486,236 | ||||||
Tyco
Electronics Group SA, 3.125%, 8/15/27 |
973,000 | 907,451 | ||||||
1,775,961 | ||||||||
Energy
Equipment and Services — 0.1% |
||||||||
Baker
Hughes Holdings LLC / Baker Hughes Co.-Obligor, Inc., 3.34%,
12/15/27 |
317,000 | 294,174 | ||||||
Schlumberger
Investment SA, 2.65%, 6/26/30 |
417,000 | 360,972 | ||||||
655,146 | ||||||||
Entertainment† |
||||||||
Netflix,
Inc., 4.875%, 4/15/28 |
245,000 | 241,438 | ||||||
Financial
Services — 0.8% |
||||||||
Equitable
Holdings, Inc., 4.35%, 4/20/28 |
50,000 | 47,361 | ||||||
Fidelity
National Information Services, Inc., 1.15%, 3/1/26 |
250,000 | 225,110 | ||||||
Fidelity
National Information Services, Inc., 2.25%, 3/1/31 |
588,000 | 475,207 | ||||||
Fidelity
National Information Services, Inc., 5.10%, 7/15/32(1) |
100,000 | 98,024 | ||||||
Fiserv,
Inc., 4.20%, 10/1/28 |
50,000 | 47,754 | ||||||
Global
Payments, Inc., 2.90%, 5/15/30 |
60,000 | 50,751 | ||||||
Mastercard,
Inc., 3.35%, 3/26/30 |
200,000 | 183,952 | ||||||
National
Rural Utilities Cooperative Finance Corp., 3.40%, 2/7/28 |
350,000 | 326,419 | ||||||
National
Rural Utilities Cooperative Finance Corp., 3.70%, 3/15/29 |
272,000 | 252,610 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
National
Rural Utilities Cooperative Finance Corp., 5.80%, 1/15/33 |
$ | 2,300,000 | $ | 2,375,850 | ||||
4,083,038 | ||||||||
Food
Products — 1.8% |
||||||||
Archer-Daniels-Midland
Co., 3.25%, 3/27/30 |
2,383,000 | 2,170,002 | ||||||
Archer-Daniels-Midland
Co., 4.50%, 8/15/33 |
1,000,000 | 969,047 | ||||||
Bunge
Ltd. Finance Corp., 3.25%, 8/15/26 |
220,000 | 207,311 | ||||||
Campbell
Soup Co., 4.15%, 3/15/28 |
659,000 | 627,872 | ||||||
Conagra
Brands, Inc., 5.30%, 11/1/38 |
2,075,000 | 1,918,581 | ||||||
General
Mills, Inc., 4.20%, 4/17/28 |
619,000 | 593,957 | ||||||
General
Mills, Inc., 4.95%, 3/29/33 |
100,000 | 97,591 | ||||||
Ingredion,
Inc., 2.90%, 6/1/30 |
959,000 | 822,464 | ||||||
Kellogg
Co., 5.25%, 3/1/33 |
40,000 | 39,556 | ||||||
Kraft
Heinz Foods Co., 3.875%, 5/15/27 |
30,000 | 28,673 | ||||||
Kraft
Heinz Foods Co., 5.00%, 6/4/42 |
903,000 | 825,662 | ||||||
Mondelez
International, Inc., 1.50%, 2/4/31 |
1,321,000 | 1,026,152 | ||||||
Mondelez
International, Inc., 3.00%, 3/17/32 |
10,000 | 8,559 | ||||||
9,335,427 | ||||||||
Gas
Utilities — 0.1% |
||||||||
Southern
California Gas Co., 2.55%, 2/1/30 |
518,000 | 441,053 | ||||||
Ground
Transportation — 0.9% |
||||||||
Burlington
Northern Santa Fe LLC, 5.75%, 5/1/40 |
500,000 | 522,683 | ||||||
Canadian
National Railway Co., 6.25%, 8/1/34 |
988,000 | 1,072,585 | ||||||
CSX
Corp., 4.10%, 11/15/32(1) |
600,000 | 563,555 | ||||||
Norfolk
Southern Corp., 3.15%, 6/1/27 |
125,000 | 116,717 | ||||||
Norfolk
Southern Corp., 3.80%, 8/1/28 |
153,000 | 144,629 | ||||||
Ryder
System, Inc., 5.65%, 3/1/28 |
550,000 | 551,707 | ||||||
Union
Pacific Corp., 3.70%, 3/1/29 |
1,110,000 | 1,053,196 | ||||||
Union
Pacific Corp., 4.50%, 1/20/33(1) |
425,000 | 412,752 | ||||||
4,437,824 | ||||||||
Health
Care Equipment and Supplies — 0.3% |
||||||||
Becton
Dickinson & Co., 3.70%, 6/6/27 |
77,000 | 73,035 | ||||||
Edwards
Lifesciences Corp., 4.30%, 6/15/28 |
1,383,000 | 1,330,821 | ||||||
Smith
& Nephew PLC, 2.03%, 10/14/30 |
448,000 | 354,773 | ||||||
1,758,629 | ||||||||
Health
Care Providers and Services — 2.3% |
||||||||
Aetna,
Inc., 6.75%, 12/15/37 |
1,565,000 | 1,709,492 | ||||||
Cigna
Group, 5.40%, 3/15/33 |
400,000 | 401,573 | ||||||
Cigna
Group, 4.80%, 8/15/38 |
1,025,000 | 945,651 | ||||||
CVS
Health Corp., 2.875%, 6/1/26 |
25,000 | 23,427 | ||||||
CVS
Health Corp., 5.25%, 2/21/33 |
1,100,000 | 1,076,274 | ||||||
CVS
Health Corp., 5.30%, 6/1/33 |
200,000 | 195,999 | ||||||
Elevance
Health, Inc., 3.35%, 12/1/24 |
320,000 | 311,431 | ||||||
HCA,
Inc., 5.25%, 6/15/26 |
600,000 | 592,818 | ||||||
HCA,
Inc., 5.375%, 9/1/26 |
20,000 | 19,860 | ||||||
HCA,
Inc., 4.50%, 2/15/27 |
555,000 | 536,827 | ||||||
HCA,
Inc., 5.625%, 9/1/28 |
151,000 | 150,851 | ||||||
HCA,
Inc., 4.125%, 6/15/29 |
1,416,000 | 1,308,633 | ||||||
Humana,
Inc., 3.95%, 3/15/27 |
300,000 | 288,153 | ||||||
Humana,
Inc., 4.875%, 4/1/30 |
10,000 | 9,704 | ||||||
Humana,
Inc., 2.15%, 2/3/32 |
485,000 | 380,631 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
UnitedHealth
Group, Inc., 5.25%, 2/15/28 |
$ | 1,075,000 | $ | 1,096,250 | ||||
UnitedHealth
Group, Inc., 6.50%, 6/15/37 |
1,900,000 | 2,136,370 | ||||||
UnitedHealth
Group, Inc., 6.875%, 2/15/38 |
420,000 | 488,902 | ||||||
11,672,846 | ||||||||
Health
Care REITs — 0.3% |
||||||||
Healthpeak
OP LLC, 5.25%, 12/15/32 |
250,000 | 241,814 | ||||||
Welltower
OP LLC, 4.00%, 6/1/25 |
325,000 | 315,178 | ||||||
Welltower
OP LLC, 4.25%, 4/1/26 |
941,000 | 911,500 | ||||||
Welltower
OP LLC, 2.70%, 2/15/27 |
60,000 | 55,090 | ||||||
1,523,582 | ||||||||
Hotels,
Restaurants and Leisure — 1.0% |
||||||||
Expedia
Group, Inc., 4.625%, 8/1/27 |
1,030,000 | 999,729 | ||||||
Expedia
Group, Inc., 3.25%, 2/15/30 |
1,562,000 | 1,362,608 | ||||||
Hyatt
Hotels Corp., 4.85%, 3/15/26 |
60,000 | 58,845 | ||||||
Marriott
International, Inc., 3.60%, 4/15/24 |
195,000 | 192,060 | ||||||
McDonald's
Corp., 4.70%, 12/9/35 |
772,000 | 738,325 | ||||||
McDonald's
Corp., 3.70%, 2/15/42 |
250,000 | 198,460 | ||||||
Starbucks
Corp., 4.00%, 11/15/28 |
1,511,000 | 1,446,907 | ||||||
4,996,934 | ||||||||
Household
Durables — 0.2% |
||||||||
Lennar
Corp., 5.25%, 6/1/26 |
200,000 | 199,064 | ||||||
Lennar
Corp., 5.00%, 6/15/27 |
646,000 | 636,514 | ||||||
835,578 | ||||||||
Independent
Power and Renewable Electricity Producers — 0.1% | ||||||||
AES
Corp., 1.375%, 1/15/26 |
365,000 | 328,569 | ||||||
Industrial
Conglomerates — 1.0% |
||||||||
3M
Co., 5.70%, 3/15/37(1) |
1,000,000 | 1,063,974 | ||||||
Eaton
Corp., 4.15%, 3/15/33 |
25,000 | 23,590 | ||||||
Honeywell
International, Inc., 5.00%, 2/15/33 |
925,000 | 933,167 | ||||||
Honeywell
International, Inc., 5.70%, 3/15/37 |
3,090,000 | 3,225,356 | ||||||
5,246,087 | ||||||||
Insurance
— 2.2% |
||||||||
Allstate
Corp., 5.25%, 3/30/33 |
1,900,000 | 1,862,615 | ||||||
Aon
Corp., 2.80%, 5/15/30 |
40,000 | 34,395 | ||||||
Aon
Corp. / Aon Global Holdings PLC, 5.35%, 2/28/33 |
300,000 | 299,746 | ||||||
Athene
Holding Ltd., 4.125%, 1/12/28 |
444,000 | 415,263 | ||||||
Chubb
INA Holdings, Inc., 3.15%, 3/15/25 |
2,669,000 | 2,581,957 | ||||||
Cincinnati
Financial Corp., 6.125%, 11/1/34 |
310,000 | 319,764 | ||||||
First
American Financial Corp., 4.00%, 5/15/30 |
66,000 | 57,419 | ||||||
Hartford
Financial Services Group, Inc., 2.80%, 8/19/29 |
405,000 | 354,928 | ||||||
Hartford
Financial Services Group, Inc., 6.10%, 10/1/41 |
85,000 | 85,974 | ||||||
MetLife,
Inc., 3.60%, 11/13/25 |
912,000 | 882,821 | ||||||
Principal
Financial Group, Inc., 6.05%, 10/15/36 |
2,045,000 | 2,101,300 | ||||||
Progressive
Corp., 2.45%, 1/15/27 |
301,000 | 277,546 | ||||||
Prudential
Financial, Inc., 6.625%, 6/21/40 |
25,000 | 27,007 | ||||||
Prudential
Funding Asia PLC, 3.125%, 4/14/30 |
1,219,000 | 1,075,807 | ||||||
Willis
North America, Inc., 4.50%, 9/15/28 |
850,000 | 810,776 | ||||||
11,187,318 | ||||||||
IT
Services — 0.4% |
||||||||
International
Business Machines Corp., 1.95%, 5/15/30 |
1,659,000 | 1,369,375 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Leidos,
Inc., 4.375%, 5/15/30 |
$ | 964,000 | $ | 889,573 | ||||
2,258,948 | ||||||||
Leisure
Products — 0.1% |
||||||||
Hasbro,
Inc., 3.50%, 9/15/27 |
571,000 | 533,957 | ||||||
Machinery
— 1.2% |
||||||||
Caterpillar,
Inc., 5.20%, 5/27/41 |
910,000 | 922,071 | ||||||
IDEX
Corp., 3.00%, 5/1/30 |
277,000 | 240,916 | ||||||
John
Deere Capital Corp., 4.75%, 1/20/28 |
230,000 | 229,119 | ||||||
Oshkosh
Corp., 4.60%, 5/15/28 |
1,258,000 | 1,230,401 | ||||||
Parker-Hannifin
Corp., 3.25%, 6/14/29 |
120,000 | 108,624 | ||||||
Parker-Hannifin
Corp., 4.20%, 11/21/34 |
693,000 | 628,549 | ||||||
Stanley
Black & Decker, Inc., 6.00%, 3/6/28 |
2,250,000 | 2,299,364 | ||||||
Westinghouse
Air Brake Technologies Corp., 3.20%, 6/15/25 |
500,000 | 477,394 | ||||||
6,136,438 | ||||||||
Media
— 1.1% |
||||||||
Comcast
Corp., 2.65%, 2/1/30 |
1,923,000 | 1,673,340 | ||||||
Comcast
Corp., 3.40%, 4/1/30 |
200,000 | 182,495 | ||||||
Comcast
Corp., 4.25%, 10/15/30 |
300,000 | 285,592 | ||||||
Comcast
Corp., 3.20%, 7/15/36 |
60,000 | 48,588 | ||||||
Comcast
Corp., 3.90%, 3/1/38 |
500,000 | 426,861 | ||||||
Fox
Corp., 5.48%, 1/25/39 |
2,140,000 | 1,943,931 | ||||||
Interpublic
Group of Cos., Inc., 4.75%, 3/30/30 |
372,000 | 354,772 | ||||||
Walt
Disney Co., 6.40%, 12/15/35 |
100,000 | 109,525 | ||||||
Walt
Disney Co., 6.65%, 11/15/37 |
700,000 | 789,419 | ||||||
5,814,523 | ||||||||
Metals
and Mining — 0.8% |
||||||||
BHP
Billiton Finance USA Ltd., 4.90%, 2/28/33 |
2,100,000 | 2,074,116 | ||||||
Kinross
Gold Corp., 4.50%, 7/15/27 |
95,000 | 91,690 | ||||||
Newmont
Corp., 2.60%, 7/15/32 |
60,000 | 48,350 | ||||||
Newmont
Corp., 5.875%, 4/1/35 |
1,000,000 | 1,009,018 | ||||||
Steel
Dynamics, Inc., 3.25%, 1/15/31 |
1,000,000 | 872,548 | ||||||
4,095,722 | ||||||||
Multi-Utilities
— 0.7% |
||||||||
Consumers
Energy Co., 4.625%, 5/15/33 |
1,757,000 | 1,704,977 | ||||||
Dominion
Energy, Inc., 4.25%, 6/1/28 |
150,000 | 143,181 | ||||||
Dominion
Energy, Inc., 5.375%, 11/15/32 |
300,000 | 295,490 | ||||||
NiSource,
Inc., 5.25%, 3/30/28 |
155,000 | 154,443 | ||||||
San
Diego Gas & Electric Co., 1.70%, 10/1/30 |
1,625,000 | 1,295,456 | ||||||
3,593,547 | ||||||||
Office
REITs — 0.2% |
||||||||
Alexandria
Real Estate Equities, Inc., 3.45%, 4/30/25 |
475,000 | 458,713 | ||||||
Alexandria
Real Estate Equities, Inc., 3.375%, 8/15/31 |
350,000 | 302,613 | ||||||
761,326 | ||||||||
Oil,
Gas and Consumable Fuels — 5.8% |
||||||||
Boardwalk
Pipelines LP, 5.95%, 6/1/26 |
425,000 | 426,001 | ||||||
Boardwalk
Pipelines LP, 4.80%, 5/3/29 |
1,180,000 | 1,124,148 | ||||||
BP
Capital Markets America, Inc., 3.63%, 4/6/30 |
948,000 | 876,067 | ||||||
BP
Capital Markets America, Inc., 4.89%, 9/11/33 |
160,000 | 155,782 | ||||||
BP
Capital Markets PLC, 3.28%, 9/19/27 |
370,000 | 348,652 | ||||||
Burlington
Resources LLC, 7.40%, 12/1/31 |
130,000 | 149,886 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Canadian
Natural Resources Ltd., 2.95%, 7/15/30 |
$ | 598,000 | $ | 511,032 | ||||
Canadian
Natural Resources Ltd., 5.85%, 2/1/35 |
735,000 | 716,842 | ||||||
Cheniere
Corpus Christi Holdings LLC, 5.125%, 6/30/27 |
1,496,000 | 1,480,614 | ||||||
Chevron
USA, Inc., 6.00%, 3/1/41 |
2,250,000 | 2,418,743 | ||||||
ConocoPhillips,
6.50%, 2/1/39 |
510,000 | 569,262 | ||||||
ConocoPhillips
Co., 2.40%, 3/7/25 |
36,000 | 34,524 | ||||||
Continental
Resources, Inc., 4.375%, 1/15/28 |
530,000 | 499,339 | ||||||
Devon
Energy Corp., 5.25%, 9/15/24 |
775,000 | 770,419 | ||||||
Devon
Energy Corp., 4.50%, 1/15/30 |
989,000 | 926,039 | ||||||
Diamondback
Energy, Inc., 3.125%, 3/24/31 |
210,000 | 180,704 | ||||||
Enbridge,
Inc., 3.125%, 11/15/29 |
592,000 | 523,249 | ||||||
Energy
Transfer LP, 4.95%, 5/15/28 |
580,000 | 563,784 | ||||||
Equinor
ASA, 3.70%, 3/1/24 |
509,000 | 504,625 | ||||||
Equinor
ASA, 7.25%, 9/23/27 |
804,000 | 872,452 | ||||||
Equinor
ASA, 3.125%, 4/6/30(1) |
194,000 | 176,340 | ||||||
Exxon
Mobil Corp., 2.61%, 10/15/30 |
2,056,000 | 1,782,194 | ||||||
Hess
Corp., 4.30%, 4/1/27 |
735,000 | 707,444 | ||||||
Hess
Corp., 7.875%, 10/1/29 |
521,000 | 576,112 | ||||||
Hess
Corp., 5.60%, 2/15/41 |
750,000 | 705,899 | ||||||
Kinder
Morgan, Inc., 5.30%, 12/1/34 |
1,250,000 | 1,190,005 | ||||||
Marathon
Petroleum Corp., 4.70%, 5/1/25 |
540,000 | 530,878 | ||||||
MPLX
LP, 2.65%, 8/15/30 |
1,281,000 | 1,064,153 | ||||||
Phillips
66, 3.90%, 3/15/28 |
484,000 | 458,677 | ||||||
Pioneer
Natural Resources Co., 1.90%, 8/15/30 |
1,673,000 | 1,351,223 | ||||||
Plains
All American Pipeline LP / PAA Finance Corp., 4.50%,
12/15/26 |
250,000 | 241,873 | ||||||
Sabine
Pass Liquefaction LLC, 5.00%, 3/15/27 |
890,000 | 875,216 | ||||||
Shell
International Finance BV, 3.25%, 5/11/25 |
277,000 | 268,285 | ||||||
Shell
International Finance BV, 2.75%, 4/6/30 |
2,163,000 | 1,908,250 | ||||||
TotalEnergies
Capital International SA, 2.43%, 1/10/25 |
219,000 | 210,702 | ||||||
TransCanada
PipeLines Ltd., 4.25%, 5/15/28 |
216,000 | 205,782 | ||||||
TransCanada
PipeLines Ltd., 7.625%, 1/15/39 |
250,000 | 284,017 | ||||||
Valero
Energy Corp., 6.625%, 6/15/37 |
893,000 | 951,222 | ||||||
Valero
Energy Partners LP, 4.50%, 3/15/28 |
793,000 | 763,794 | ||||||
Williams
Cos., Inc., 4.00%, 9/15/25 |
2,057,000 | 1,993,015 | ||||||
Williams
Cos., Inc., 2.60%, 3/15/31 |
60,000 | 49,282 | ||||||
29,946,527 | ||||||||
Passenger
Airlines — 0.2% |
||||||||
Southwest
Airlines Co., 5.125%, 6/15/27 |
502,000 | 496,319 | ||||||
Southwest
Airlines Co., 2.625%, 2/10/30 |
677,000 | 572,630 | ||||||
1,068,949 | ||||||||
Personal
Care Products — 0.2% |
||||||||
Unilever
Capital Corp., 3.25%, 3/7/24 |
245,000 | 242,005 | ||||||
Unilever
Capital Corp., 5.90%, 11/15/32 |
770,000 | 838,155 | ||||||
1,080,160 | ||||||||
Pharmaceuticals
— 2.1% |
||||||||
Astrazeneca
Finance LLC, 2.25%, 5/28/31 |
672,000 | 559,534 | ||||||
AstraZeneca
PLC, 4.00%, 1/17/29 |
949,000 | 910,912 | ||||||
Bristol-Myers
Squibb Co., 1.45%, 11/13/30 |
734,000 | 582,460 | ||||||
Bristol-Myers
Squibb Co., 2.95%, 3/15/32 |
500,000 | 433,604 | ||||||
Eli
Lilly & Co., 3.375%, 3/15/29 |
420,000 | 393,089 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Johnson
& Johnson, 0.55%, 9/1/25 |
$ | 40,000 | $ | 36,635 | ||||
Johnson
& Johnson, 2.95%, 3/3/27 |
41,000 | 38,848 | ||||||
Johnson
& Johnson, 2.90%, 1/15/28 |
484,000 | 453,785 | ||||||
Johnson
& Johnson, 4.375%, 12/5/33 |
30,000 | 29,651 | ||||||
Johnson
& Johnson, 5.85%, 7/15/38 |
1,100,000 | 1,204,446 | ||||||
Merck
& Co., Inc., 0.75%, 2/24/26 |
520,000 | 471,101 | ||||||
Merck
& Co., Inc., 3.40%, 3/7/29 |
1,124,000 | 1,047,333 | ||||||
Merck
& Co., Inc., 4.30%, 5/17/30 |
20,000 | 19,411 | ||||||
Merck
& Co., Inc., 2.15%, 12/10/31 |
250,000 | 204,471 | ||||||
Merck
& Co., Inc., 2.35%, 6/24/40 |
200,000 | 140,198 | ||||||
Novartis
Capital Corp., 3.10%, 5/17/27 |
307,000 | 290,535 | ||||||
Royalty
Pharma PLC, 2.20%, 9/2/30 |
1,188,000 | 947,484 | ||||||
Sanofi,
3.625%, 6/19/28 |
751,000 | 725,554 | ||||||
Shire
Acquisitions Investments Ireland DAC, 3.20%, 9/23/26 |
229,000 | 215,156 | ||||||
Wyeth
LLC, 5.95%, 4/1/37 |
1,900,000 | 2,037,736 | ||||||
10,741,943 | ||||||||
Professional
Services — 0.2% |
||||||||
Automatic
Data Processing, Inc., 1.25%, 9/1/30 |
102,000 | 81,296 | ||||||
Verisk
Analytics, Inc., 4.125%, 3/15/29 |
944,000 | 899,661 | ||||||
980,957 | ||||||||
Residential
REITs — 0.9% |
||||||||
American
Homes 4 Rent LP, 4.25%, 2/15/28 |
821,000 | 777,463 | ||||||
AvalonBay
Communities, Inc., 3.20%, 1/15/28 |
726,000 | 670,453 | ||||||
Camden
Property Trust, 2.80%, 5/15/30 |
1,225,000 | 1,064,967 | ||||||
UDR,
Inc., 2.10%, 8/1/32 |
1,423,000 | 1,069,311 | ||||||
UDR,
Inc., 1.90%, 3/15/33 |
1,200,000 | 876,663 | ||||||
4,458,857 | ||||||||
Retail
REITs — 0.3% |
||||||||
Kimco
Realty OP LLC, 2.80%, 10/1/26 |
650,000 | 598,471 | ||||||
Kimco
Realty OP LLC, 1.90%, 3/1/28 |
222,000 | 188,264 | ||||||
Realty
Income Corp., 3.65%, 1/15/28 |
332,000 | 310,830 | ||||||
Realty
Income Corp., 3.25%, 1/15/31 |
350,000 | 303,061 | ||||||
Realty
Income Corp., 2.85%, 12/15/32 |
90,000 | 73,023 | ||||||
1,473,649 | ||||||||
Semiconductors
and Semiconductor Equipment — 2.1% |
||||||||
Applied
Materials, Inc., 1.75%, 6/1/30 |
20,000 | 16,497 | ||||||
Broadcom,
Inc., 4.11%, 9/15/28 |
10,000 | 9,416 | ||||||
Broadcom,
Inc., 4.30%, 11/15/32 |
1,213,000 | 1,096,980 | ||||||
Broadcom,
Inc., 2.60%, 2/15/33(2) |
741,000 | 573,185 | ||||||
Broadcom,
Inc., 4.93%, 5/15/37(2) |
190,000 | 171,284 | ||||||
Intel
Corp., 5.125%, 2/10/30 |
245,000 | 245,576 | ||||||
Intel
Corp., 4.15%, 8/5/32 |
550,000 | 517,833 | ||||||
Intel
Corp., 5.20%, 2/10/33 |
1,200,000 | 1,199,590 | ||||||
KLA
Corp., 4.65%, 7/15/32 |
725,000 | 712,859 | ||||||
Lam
Research Corp., 3.75%, 3/15/26 |
858,000 | 832,650 | ||||||
Marvell
Technology, Inc., 2.95%, 4/15/31 |
1,049,000 | 876,000 | ||||||
Micron
Technology, Inc., 4.19%, 2/15/27 |
1,047,000 | 998,464 | ||||||
Micron
Technology, Inc., 6.75%, 11/1/29 |
200,000 | 208,260 | ||||||
Micron
Technology, Inc., 5.875%, 2/9/33 |
100,000 | 98,961 | ||||||
NVIDIA
Corp., 2.85%, 4/1/30 |
2,653,000 | 2,383,155 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
NXP
BV / NXP Funding LLC, 5.55%, 12/1/28 |
$ | 504,000 | $ | 505,250 | ||||
NXP
BV / NXP Funding LLC / NXP USA, Inc., 5.00%, 1/15/33 |
280,000 | 266,087 | ||||||
Texas
Instruments, Inc., 3.875%, 3/15/39 |
327,000 | 283,606 | ||||||
Xilinx,
Inc., 2.375%, 6/1/30 |
35,000 | 29,963 | ||||||
11,025,616 | ||||||||
Software
— 0.9% |
||||||||
Autodesk,
Inc., 2.85%, 1/15/30 |
2,193,000 | 1,915,041 | ||||||
Oracle
Corp., 3.25%, 11/15/27 |
100,000 | 92,724 | ||||||
Oracle
Corp., 3.25%, 5/15/30 |
392,000 | 345,039 | ||||||
Oracle
Corp., 2.875%, 3/25/31 |
1,525,000 | 1,289,329 | ||||||
Oracle
Corp., 3.90%, 5/15/35 |
45,000 | 38,443 | ||||||
Oracle
Corp., 3.85%, 7/15/36 |
30,000 | 24,830 | ||||||
Roper
Technologies, Inc., 1.40%, 9/15/27 |
135,000 | 116,967 | ||||||
Salesforce,
Inc., 1.50%, 7/15/28 |
200,000 | 172,171 | ||||||
VMware,
Inc., 1.80%, 8/15/28 |
146,000 | 122,448 | ||||||
VMware,
Inc., 4.70%, 5/15/30 |
752,000 | 709,183 | ||||||
4,826,175 | ||||||||
Specialized
REITs — 1.3% |
||||||||
American
Tower Corp., 2.75%, 1/15/27 |
350,000 | 320,210 | ||||||
American
Tower Corp., 3.60%, 1/15/28 |
210,000 | 194,013 | ||||||
American
Tower Corp., 2.90%, 1/15/30 |
1,246,000 | 1,062,944 | ||||||
American
Tower Corp., 1.875%, 10/15/30 |
60,000 | 46,747 | ||||||
American
Tower Corp., 5.65%, 3/15/33 |
160,000 | 159,487 | ||||||
Crown
Castle, Inc., 2.10%, 4/1/31 |
1,820,000 | 1,436,778 | ||||||
Equinix,
Inc., 1.25%, 7/15/25 |
252,000 | 232,612 | ||||||
Equinix,
Inc., 1.00%, 9/15/25 |
50,000 | 45,630 | ||||||
Equinix,
Inc., 2.90%, 11/18/26 |
175,000 | 161,869 | ||||||
Equinix,
Inc., 2.00%, 5/15/28 |
592,000 | 506,406 | ||||||
Equinix,
Inc., 3.90%, 4/15/32 |
935,000 | 832,503 | ||||||
Public
Storage, 1.85%, 5/1/28 |
1,760,000 | 1,529,325 | ||||||
6,528,524 | ||||||||
Specialty
Retail — 0.7% |
||||||||
AutoNation,
Inc., 3.80%, 11/15/27 |
116,000 | 106,789 | ||||||
Home
Depot, Inc., 2.125%, 9/15/26 |
295,000 | 272,274 | ||||||
Home
Depot, Inc., 2.95%, 6/15/29 |
2,073,000 | 1,884,201 | ||||||
Home
Depot, Inc., 5.95%, 4/1/41 |
310,000 | 331,954 | ||||||
Lowe's
Cos., Inc., 3.10%, 5/3/27 |
100,000 | 93,184 | ||||||
Lowe's
Cos., Inc., 5.00%, 4/15/33 |
60,000 | 58,646 | ||||||
Lowe's
Cos., Inc., 5.50%, 10/15/35 |
300,000 | 303,082 | ||||||
O'Reilly
Automotive, Inc., 4.35%, 6/1/28(1) |
775,000 | 752,764 | ||||||
3,802,894 | ||||||||
Technology
Hardware, Storage and Peripherals — 1.1% |
||||||||
Apple,
Inc., 3.25%, 2/23/26 |
598,000 | 575,233 | ||||||
Apple,
Inc., 3.20%, 5/11/27 |
614,000 | 583,564 | ||||||
Apple,
Inc., 3.00%, 6/20/27 |
150,000 | 141,576 | ||||||
Apple,
Inc., 3.00%, 11/13/27 |
500,000 | 469,678 | ||||||
Apple,
Inc., 3.25%, 8/8/29 |
130,000 | 121,091 | ||||||
Apple,
Inc., 2.20%, 9/11/29 |
627,000 | 549,961 | ||||||
Apple,
Inc., 4.30%, 5/10/33 |
100,000 | 98,200 | ||||||
Dell
International LLC / EMC Corp., 5.75%, 2/1/33(1) |
1,650,000 | 1,648,808 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Hewlett
Packard Enterprise Co., 6.20%, 10/15/35 |
$ | 1,294,000 | $ | 1,344,572 | ||||
HP,
Inc., 4.75%, 1/15/28 |
50,000 | 48,723 | ||||||
HP,
Inc., 5.50%, 1/15/33 |
280,000 | 271,976 | ||||||
5,853,382 | ||||||||
Textiles,
Apparel and Luxury Goods — 0.5% |
||||||||
NIKE,
Inc., 2.85%, 3/27/30 |
2,827,000 | 2,525,960 | ||||||
Trading
Companies and Distributors — 0.1% |
||||||||
Air
Lease Corp., 3.625%, 12/1/27 |
321,000 | 295,226 | ||||||
Transportation
Infrastructure — 0.2% |
||||||||
FedEx
Corp. Pass-Through Trust, Series 2020-1, Class AA, 1.875%,
8/20/35 |
999,942 | 819,142 | ||||||
Wireless
Telecommunication Services — 0.8% |
||||||||
T-Mobile
USA, Inc., 4.80%, 7/15/28(1) |
165,000 | 161,392 | ||||||
T-Mobile
USA, Inc., 2.55%, 2/15/31 |
1,307,000 | 1,077,688 | ||||||
T-Mobile
USA, Inc., 2.875%, 2/15/31 |
20,000 | 16,834 | ||||||
T-Mobile
USA, Inc., 2.25%, 11/15/31 |
756,000 | 601,393 | ||||||
T-Mobile
USA, Inc., 3.00%, 2/15/41 |
120,000 | 84,839 | ||||||
Vodafone
Group PLC, 6.15%, 2/27/37 |
1,950,000 | 1,998,953 | ||||||
3,941,099 | ||||||||
TOTAL
CORPORATE BONDS
(Cost
$329,983,700) |
317,354,035 | |||||||
U.S.
TREASURY SECURITIES — 24.0% |
||||||||
U.S.
Treasury Bonds, 4.50%, 2/15/36 |
4,950,000 | 5,177,391 | ||||||
U.S.
Treasury Bonds, 1.125%, 8/15/40 |
3,886,800 | 2,387,953 | ||||||
U.S.
Treasury Bonds, 1.875%, 2/15/41 |
3,267,600 | 2,269,067 | ||||||
U.S.
Treasury Bonds, 2.25%, 5/15/41 |
5,235,200 | 3,859,733 | ||||||
U.S.
Treasury Bonds, 2.00%, 11/15/41 |
9,615,200 | 6,732,142 | ||||||
U.S.
Treasury Bonds, 2.75%, 8/15/42 |
9,500,000 | 7,471,602 | ||||||
U.S.
Treasury Bonds, 2.875%, 5/15/43 |
10,100,000 | 8,046,859 | ||||||
U.S.
Treasury Bonds, 3.625%, 8/15/43 |
9,300,000 | 8,313,691 | ||||||
U.S.
Treasury Bonds, 2.50%, 2/15/45 |
5,347,000 | 3,927,330 | ||||||
U.S.
Treasury Bonds, 2.875%, 8/15/45 |
2,000,000 | 1,565,312 | ||||||
U.S.
Treasury Notes, 0.25%, 9/30/23 |
7,100,000 | 7,070,961 | ||||||
U.S.
Treasury Notes, 0.50%, 11/30/23 |
3,800,000 | 3,754,921 | ||||||
U.S.
Treasury Notes, 0.75%, 12/31/23 |
6,450,000 | 6,350,329 | ||||||
U.S.
Treasury Notes, 0.125%, 1/15/24 |
5,400,000 | 5,296,737 | ||||||
U.S.
Treasury Notes, 0.875%, 1/31/24 |
5,600,000 | 5,496,861 | ||||||
U.S.
Treasury Notes, 0.125%, 2/15/24 |
7,475,000 | 7,299,090 | ||||||
U.S.
Treasury Notes, 2.25%, 3/31/24 |
5,517,000 | 5,417,588 | ||||||
U.S.
Treasury Notes, 0.375%, 4/15/24 |
5,559,400 | 5,387,786 | ||||||
U.S.
Treasury Notes, 2.50%, 5/15/24 |
5,700,000 | 5,583,964 | ||||||
U.S.
Treasury Notes, 1.50%, 11/30/24 |
3,873,200 | 3,700,268 | ||||||
U.S.
Treasury Notes, 2.25%, 12/31/24 |
3,500,000 | 3,368,887 | ||||||
U.S.
Treasury Notes, 1.375%, 1/31/25(3) |
3,790,200 | 3,597,285 | ||||||
U.S.
Treasury Notes, 2.75%, 2/28/25 |
3,268,800 | 3,159,116 | ||||||
U.S.
Treasury Notes, 0.375%, 4/30/25 |
1,767,600 | 1,638,275 | ||||||
U.S.
Treasury Notes, 2.75%, 8/31/25 |
1,200,000 | 1,152,094 | ||||||
U.S.
Treasury Notes, 1.125%, 2/29/28 |
2,000,000 | 1,741,602 | ||||||
U.S.
Treasury Notes, 1.375%, 10/31/28 |
1,950,000 | 1,690,635 | ||||||
U.S.
Treasury Notes, 2.625%, 2/15/29 |
2,000,000 | 1,841,719 | ||||||
TOTAL
U.S. TREASURY SECURITIES
(Cost
$128,910,953) |
123,299,198 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
U.S.
GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 19.9% | ||||||||
Fixed-Rate
U.S. Government Agency Mortgage-Backed Securities —
19.9% | ||||||||
GNMA,
4.00%, TBA |
$ | 9,000,000 | $ | 8,386,875 | ||||
GNMA,
4.00%, TBA |
2,500,000 | 2,295,538 | ||||||
GNMA,
4.50%, TBA |
12,000,000 | 11,436,563 | ||||||
GNMA,
5.50%, TBA |
11,500,000 | 11,384,102 | ||||||
UMBS,
2.00%, TBA |
3,000,000 | 2,628,495 | ||||||
UMBS,
2.00%, TBA |
1,500,000 | 1,316,357 | ||||||
UMBS,
3.00%, TBA |
10,000,000 | 8,617,578 | ||||||
UMBS,
3.00%, TBA |
4,000,000 | 3,697,812 | ||||||
UMBS,
3.00%, TBA |
3,500,000 | 3,019,434 | ||||||
UMBS,
3.00%, TBA |
3,000,000 | 2,772,188 | ||||||
UMBS,
4.00%, TBA |
10,250,000 | 9,462,031 | ||||||
UMBS,
4.00%, TBA |
5,000,000 | 4,620,312 | ||||||
UMBS,
4.00%, TBA |
3,000,000 | 2,880,469 | ||||||
UMBS,
4.00%, TBA |
1,500,000 | 1,440,820 | ||||||
UMBS,
4.50%, TBA |
13,000,000 | 12,326,641 | ||||||
UMBS,
4.50%, TBA |
6,000,000 | 5,845,313 | ||||||
UMBS,
4.50%, TBA |
2,500,000 | 2,372,070 | ||||||
UMBS,
4.50%, TBA |
2,000,000 | 1,949,844 | ||||||
UMBS,
5.50%, TBA |
6,000,000 | 5,924,531 | ||||||
TOTAL
U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES
(Cost
$102,199,795) |
102,376,973 | |||||||
U.S.
GOVERNMENT AGENCY SECURITIES — 2.5% |
||||||||
Federal
Farm Credit Banks Funding Corp., 3.30%, 8/15/24 |
512,000 | 501,683 | ||||||
Federal
Farm Credit Banks Funding Corp., 1.125%, 1/6/25 |
100,000 | 94,676 | ||||||
Federal
Farm Credit Banks Funding Corp., 4.75%, 2/21/25 |
800,000 | 795,185 | ||||||
FHLB,
3.375%, 12/8/23 |
150,000 | 149,253 | ||||||
FHLB,
3.625%, 2/28/24 |
950,000 | 941,108 | ||||||
FHLB,
5.42%, 3/6/24 |
550,000 | 548,703 | ||||||
FHLB,
3.125%, 6/13/25 |
50,000 | 48,387 | ||||||
FHLB,
0.375%, 9/4/25 |
125,000 | 114,400 | ||||||
FHLB,
1.25%, 12/21/26 |
500,000 | 450,166 | ||||||
FHLB,
3.00%, 3/12/27 |
50,000 | 47,534 | ||||||
FHLB,
3.25%, 11/16/28 |
1,120,000 | 1,066,690 | ||||||
FHLMC,
5.31%, 11/15/24 |
250,000 | 248,550 | ||||||
FHLMC,
4.00%, 11/25/24 |
450,000 | 441,765 | ||||||
FHLMC,
1.50%, 2/12/25 |
350,000 | 332,405 | ||||||
FHLMC,
0.375%, 7/21/25 |
251,000 | 230,632 | ||||||
FHLMC,
0.375%, 9/23/25 |
646,000 | 589,554 | ||||||
FNMA,
2.50%, 2/5/24 |
30,000 | 29,629 | ||||||
FNMA,
2.625%, 9/6/24 |
1,450,000 | 1,410,748 | ||||||
FNMA,
1.625%, 10/15/24 |
37,000 | 35,563 | ||||||
FNMA,
1.625%, 1/7/25 |
1,100,000 | 1,050,079 | ||||||
FNMA,
0.625%, 4/22/25 |
125,000 | 116,450 | ||||||
FNMA,
0.50%, 6/17/25 |
100,000 | 92,415 | ||||||
FNMA,
0.375%, 8/25/25 |
100,000 | 91,442 | ||||||
FNMA,
6.25%, 5/15/29 |
221,000 | 242,222 | ||||||
FNMA,
7.125%, 1/15/30 |
105,000 | 121,236 | ||||||
FNMA,
7.25%, 5/15/30 |
70,000 | 81,774 | ||||||
FNMA,
6.625%, 11/15/30 |
361,000 | 411,164 |
Avantis Core Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Tennessee
Valley Authority, 0.75%, 5/15/25 |
$ | 105,000 | $ | 97,536 | ||||
Tennessee
Valley Authority, Series A, 2.875%, 2/1/27 |
60,000 | 56,805 | ||||||
Tennessee
Valley Authority, 7.125%, 5/1/30 |
1,106,000 | 1,266,537 | ||||||
Tennessee
Valley Authority, 5.25%, 9/15/39 |
500,000 | 514,814 | ||||||
Tennessee
Valley Authority, 3.50%, 12/15/42 |
650,000 | 527,508 | ||||||
TOTAL
U.S. GOVERNMENT AGENCY SECURITIES
(Cost
$13,122,662) |
12,746,613 | |||||||
SOVEREIGN
GOVERNMENTS AND AGENCIES — 0.4% |
||||||||
Japan
— 0.2% |
||||||||
Japan
Bank for International Cooperation, 1.75%, 10/17/24 |
1,000,000 | 958,926 | ||||||
Sweden
— 0.2% |
||||||||
Svensk
Exportkredit AB, 3.625%, 9/3/24 |
500,000 | 490,181 | ||||||
Svensk
Exportkredit AB, 0.625%, 5/14/25 |
200,000 | 185,245 | ||||||
Svensk
Exportkredit AB, 2.25%, 3/22/27 |
450,000 | 414,243 | ||||||
1,089,669 | ||||||||
TOTAL
SOVEREIGN GOVERNMENTS AND AGENCIES
(Cost
$2,071,955) |
2,048,595 | |||||||
SHORT-TERM
INVESTMENTS — 11.3% |
||||||||
Money
Market Funds — 1.2% |
||||||||
State
Street Navigator Securities Lending Government Money Market
Portfolio(4) |
6,216,703 | 6,216,703 | ||||||
Treasury
Bills(5)
— 10.1% |
||||||||
U.S.
Treasury Bills, 5.36%, 9/5/23 |
$ | 6,750,000 | 6,746,087 | |||||
U.S.
Treasury Bills, 5.34%, 9/28/23 |
9,000,000 | 8,964,410 | ||||||
U.S.
Treasury Bills, 5.43%, 10/19/23 |
11,000,000 | 10,922,395 | ||||||
U.S.
Treasury Bills, 5.44%, 11/9/23 |
10,750,000 | 10,641,184 | ||||||
U.S.
Treasury Bills, 5.49%, 11/28/23 |
1,250,000 | 1,233,844 | ||||||
U.S.
Treasury Bills, 5.48%, 12/5/23 |
6,000,000 | 5,916,222 | ||||||
U.S.
Treasury Bills, 5.49%, 12/12/23 |
6,000,000 | 5,910,464 | ||||||
U.S.
Treasury Bills, 5.39%, 12/14/23 |
1,750,000 | 1,723,501 | ||||||
52,058,107 | ||||||||
TOTAL
SHORT-TERM INVESTMENTS
(Cost
$58,276,452) |
58,274,810 | |||||||
TOTAL
INVESTMENT SECURITIES — 119.8%
(Cost
$634,565,517) |
616,100,224 | |||||||
FORWARD SALES COMMITMENTS —(0.5)% | ||||||||
UMBS,
4.00%, TBA |
(500,000) | (480,078) | ||||||
UMBS,
4.50%, TBA |
(2,000,000) | (1,948,438) | ||||||
TOTAL
FORWARD SALES COMMITMENTS (Proceeds
$2,447,773) |
(2,428,516) | |||||||
OTHER
ASSETS AND LIABILITIES — (19.3)% |
(99,454,257) | |||||||
TOTAL
NET ASSETS — 100.0% |
$ | 514,217,451 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount |
Unrealized Appreciation (Depreciation)^ | ||||||||||
U.S. Treasury Long Bonds | 65 | December 2023 | $ | 7,909,687 | $ | 94,340 | ||||||||
U.S. Treasury Ultra Bonds | 13 | December 2023 | 1,683,094 | 28,881 | ||||||||||
$ | 9,592,781 | $ | 123,221 |
FUTURES CONTRACTS SOLD | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount |
Unrealized Appreciation (Depreciation)^ | ||||||||||
U.S. Treasury 10-Year Notes | 35 | December 2023 | $ | 3,886,094 | $ | (26,512) |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS | |||||||||||||||||||||||
Reference Entity |
Type‡ |
Fixed
Rate Received (Paid) Quarterly |
Termination Date |
Notional Amount |
Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
Value^ | ||||||||||||||||
Markit CDX North America Investment Grade Index Series 39 | Sell | 1.00% | 12/20/27 | $ | 10,000,000 | $ | 71,732 | $ | 99,044 | $ | 170,776 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
CDX | – | Credit Derivatives Indexes | ||||||
FHLB | – | Federal Home Loan Bank | ||||||
FHLMC | – | Federal Home Loan Mortgage Corporation | ||||||
FNMA | – | Federal National Mortgage Association | ||||||
GNMA | – | Government National Mortgage Association | ||||||
TBA | – | To-Be-Announced. Security was purchased and/or sold on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. | ||||||
UMBS | – | Uniform Mortgage-Backed Securities |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
MUNICIPAL
SECURITIES — 98.8% |
||||||||
Alabama
— 1.7% |
||||||||
Alabama
Federal Aid Highway Finance Authority Rev., 5.00%, 9/1/24(1) |
$ | 100,000 | $ | 101,650 | ||||
Alabama
Federal Aid Highway Finance Authority Rev., 4.00%, 9/1/27, Prerefunded at
100% of Par(1) |
50,000 | 51,878 | ||||||
Alabama
Public School and College Authority Rev., 5.00%, 11/1/37 |
200,000 | 218,043 | ||||||
Alabama
Public School and College Authority Rev., 4.00%, 11/1/38 |
150,000 | 149,909 | ||||||
Alabama
Public School and College Authority Rev., 5.00%, 11/1/39 |
250,000 | 270,093 | ||||||
Alabama
Public School and College Authority Rev., 4.00%, 11/1/40 |
700,000 | 681,502 | ||||||
1,473,075 | ||||||||
Arizona
— 1.1% |
||||||||
Arizona
Transportation Board Rev., 5.00%, 7/1/24 |
50,000 | 50,712 | ||||||
Mesa
Utility System Rev., 4.00%, 7/1/34 |
15,000 | 15,385 | ||||||
Phoenix
GO, 5.00%, 7/1/25 |
85,000 | 87,712 | ||||||
Pima
County Sewer System Rev., 5.00%, 7/1/24(1) |
5,000 | 5,062 | ||||||
Pima
County Sewer System Rev., 5.00%, 7/1/24 |
20,000 | 20,280 | ||||||
Pima
County Sewer System Rev., 5.00%, 7/1/25(1) |
5,000 | 5,140 | ||||||
Pima
County Sewer System Rev., 5.00%, 7/1/25 |
30,000 | 30,952 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 5.00%,
1/1/31 |
30,000 | 31,828 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 5.00%,
1/1/31 |
60,000 | 64,922 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 5.00%,
1/1/35 |
70,000 | 75,267 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 5.00%,
1/1/38 |
40,000 | 41,716 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 4.00%,
1/1/39 |
200,000 | 200,099 | ||||||
Salt
River Project Agricultural Improvement & Power District Rev., 5.00%,
1/1/39 |
65,000 | 68,484 | ||||||
Scottsdale
Municipal Property Corp. Rev., 5.00%, 7/1/30 |
50,000 | 55,015 | ||||||
State
of Arizona COP, 5.00%, 10/1/25(1) |
125,000 | 128,771 | ||||||
State
of Arizona COP, 5.00%, 10/1/29(1) |
10,000 | 11,002 | ||||||
State
of Arizona Lottery Rev., 5.00%, 7/1/29(1) |
30,000 | 33,141 | ||||||
925,488 | ||||||||
California
— 15.0% |
||||||||
California
Educational Facilities Authority Rev., (Loma Linda University), 5.00%,
4/1/42 |
500,000 | 510,631 | ||||||
California
Infrastructure & Economic Development Bank Rev., (University of
California), 5.00%, 5/15/42 |
160,000 | 168,633 | ||||||
California
State Public Works Board Rev., 5.00%, 2/1/26 |
1,000,000 | 1,046,340 | ||||||
California
State Public Works Board Rev., 5.00%, 11/1/29 |
25,000 | 25,054 | ||||||
California
State Public Works Board Rev., (State of California Department of
Corrections & Rehabilitation), 5.00%, 9/1/27 |
75,000 | 76,340 | ||||||
California
State Public Works Board Rev., (State of California Department of
Corrections & Rehabilitation), 5.00%, 9/1/32 |
100,000 | 101,620 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
California
State Public Works Board Rev., (State of California Department of General
Services), 5.00%, 5/1/25 |
$ | 40,000 | $ | 41,253 | ||||
California
State University Rev., 5.00%, 11/1/26 |
25,000 | 26,060 | ||||||
California
State University Rev., 5.00%, 11/1/36 |
200,000 | 208,922 | ||||||
Chino
Basin Regional Financing Authority Rev., (Inland Empire Utilities Agency),
4.00%, 11/1/25 |
25,000 | 25,406 | ||||||
Coast
Community College District GO, 5.00%, 8/15/25, Prerefunded at 100% of
Par(1) |
40,000 | 41,465 | ||||||
Coast
Community College District GO, 5.00%, 8/15/25, Prerefunded at 100% of
Par(1) |
75,000 | 77,746 | ||||||
Coast
Community College District GO, Capital Appreciation, 0.00%, 8/1/27
(AGM)(2) |
50,000 | 43,856 | ||||||
East
Bay Municipal Utility District Water System Rev., 5.00%,
6/1/30 |
135,000 | 139,839 | ||||||
East
Bay Municipal Utility District Water System Rev., 5.00%,
6/1/35 |
30,000 | 32,312 | ||||||
Eastern
Municipal Water District Financing Authority Rev., 4.00%,
7/1/38 |
60,000 | 60,209 | ||||||
Fresno
Unified School District GO, 4.00%, 8/1/41 |
200,000 | 195,879 | ||||||
Los
Angeles Community College District GO, 5.00%, 8/1/24 |
10,000 | 10,179 | ||||||
Los
Angeles Community College District GO, 5.00%, 8/1/25 |
65,000 | 67,480 | ||||||
Los
Angeles Community College District GO, 5.00%, 6/1/26 |
60,000 | 63,294 | ||||||
Los
Angeles Community College District GO, 4.00%, 8/1/34 |
100,000 | 102,463 | ||||||
Los
Angeles County Metropolitan Transportation Authority Sales Tax Rev.,
5.00%, 7/1/37 |
60,000 | 63,823 | ||||||
Los
Angeles County Metropolitan Transportation Authority Sales Tax Rev.,
5.00%, 7/1/38 |
105,000 | 111,186 | ||||||
Los
Angeles County Public Works Financing Authority Rev., 5.00%,
12/1/39 |
650,000 | 659,452 | ||||||
Los
Angeles County Public Works Financing Authority Rev., 4.00%,
12/1/40 |
60,000 | 60,009 | ||||||
Los
Angeles Department of Airports Rev., 5.00%, 5/15/36 |
35,000 | 38,873 | ||||||
Los
Angeles Department of Airports Rev., 5.00%, 5/15/37 |
200,000 | 220,471 | ||||||
Los
Angeles Department of Airports Rev., 4.00%, 5/15/39 |
10,000 | 10,052 | ||||||
Los
Angeles Department of Airports Rev., 5.00%, 5/15/39 |
200,000 | 218,313 | ||||||
Los
Angeles Department of Airports Rev., 4.00%, 5/15/40 |
75,000 | 75,094 | ||||||
Los
Angeles Department of Airports Rev., 5.00%, 5/15/40 |
65,000 | 70,582 | ||||||
Los
Angeles Department of Water & Power System Rev., 5.00%,
7/1/24 |
25,000 | 25,386 | ||||||
Los
Angeles Department of Water & Power System Rev., 5.00%,
7/1/25 |
25,000 | 25,835 | ||||||
Los
Angeles Department of Water & Power System Rev., 5.00%,
7/1/27 |
50,000 | 50,748 | ||||||
Los
Angeles Department of Water & Power System Rev., 5.00%,
7/1/40 |
75,000 | 82,449 | ||||||
Los
Angeles Department of Water & Power Water System Rev., 5.00%,
7/1/40 |
125,000 | 140,976 | ||||||
Los
Angeles Unified School District GO, 3.00%, 7/1/35 |
45,000 | 41,156 | ||||||
Los
Angeles Unified School District GO, 4.00%, 7/1/40 |
70,000 | 70,018 | ||||||
Los
Angeles Unified School District GO, 5.00%, 7/1/40 |
225,000 | 230,104 | ||||||
Los
Angeles Unified School District GO, 3.00%, 7/1/45 |
150,000 | 115,911 | ||||||
Los
Rios Community College District GO, 3.00%, 8/1/25 |
15,000 | 14,924 | ||||||
Municipal
Improvement Corp. of Los Angeles Rev., 5.00%, 11/1/24 |
80,000 | 81,665 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Municipal
Improvement Corp. of Los Angeles Rev., 5.00%, 11/1/31 |
$ | 60,000 | $ | 63,587 | ||||
Municipal
Improvement Corp. of Los Angeles Rev., 4.00%, 11/1/33 |
95,000 | 97,238 | ||||||
Municipal
Improvement Corp. of Los Angeles Rev., 4.00%, 11/1/35 |
100,000 | 101,264 | ||||||
Oakland
Unified School District / Alameda County GO, 5.00%, 8/1/26
(AGM) |
120,000 | 124,224 | ||||||
Peralta
Community College District GO, 4.00%, 8/1/39 |
85,000 | 83,656 | ||||||
Perris
Union High School District GO, 4.00%, 9/1/43 (AGM) |
50,000 | 48,752 | ||||||
Riverside
County Public Financing Authority Rev., 4.125%, 11/1/25, Prerefunded at
100% of Par(1) |
10,000 | 10,242 | ||||||
Riverside
Unified School District GO, 4.00%, 8/1/42 |
675,000 | 661,375 | ||||||
Sacramento
City Financing Authority Rev., (Sacramento), 5.25%, 12/1/30
(Ambac) |
100,000 | 111,771 | ||||||
Sacramento
Municipal Utility District Rev., 5.00%, 8/15/39 |
50,000 | 54,645 | ||||||
San
Diego Association of Governments Rev., 5.00%, 11/15/26 |
275,000 | 285,941 | ||||||
San
Diego Community College District GO, 4.00%, 8/1/26, Prerefunded at 100% of
Par(1) |
45,000 | 46,528 | ||||||
San
Diego Community College District GO, 5.00%, 8/1/26, Prerefunded at 100% of
Par(1) |
30,000 | 31,851 | ||||||
San
Diego Community College District GO, 5.00%, 8/1/26, Prerefunded at 100% of
Par(1) |
30,000 | 31,851 | ||||||
San
Diego Community College District GO, 5.00%, 8/1/27 |
10,000 | 10,604 | ||||||
San
Diego Community College District GO, 5.00%, 8/1/28 |
40,000 | 42,443 | ||||||
San
Diego Public Facilities Financing Authority Rev., (San Diego Sewer Utility
Rev.), 5.00%, 5/15/29 |
35,000 | 37,043 | ||||||
San
Diego Unified School District GO, 5.00%, 7/1/26 |
75,000 | 77,595 | ||||||
San
Diego Unified School District GO, 5.25%, 7/1/28 (AGM) |
35,000 | 38,920 | ||||||
San
Diego Unified School District GO, Capital Appreciation, 0.00%,
7/1/30(2) |
40,000 | 31,586 | ||||||
San
Francisco Bay Area Rapid Transit District GO, 4.00%,
8/1/34 |
125,000 | 126,148 | ||||||
San
Francisco Bay Area Rapid Transit District GO, 4.00%,
8/1/42 |
250,000 | 243,355 | ||||||
San
Francisco City & County Airport Comm-San Francisco International
Airport Rev., 5.00%, 5/1/32 |
20,000 | 22,269 | ||||||
San
Francisco City & County Airport Comm-San Francisco International
Airport Rev., 5.00%, 5/1/35 |
40,000 | 44,201 | ||||||
San
Francisco Public Utilities Commission Water Rev., 5.00%,
11/1/24 |
25,000 | 25,532 | ||||||
San
Francisco Public Utilities Commission Water Rev., 4.00%,
11/1/35 |
10,000 | 10,052 | ||||||
Santa
County Clara GO, 3.50%, 8/1/38 |
175,000 | 161,888 | ||||||
Santa
County Clara GO, 3.25%, 8/1/39 |
50,000 | 44,078 | ||||||
State
of California GO, 5.00%, 8/1/27 |
200,000 | 207,490 | ||||||
State
of California GO, 5.00%, 8/1/28 |
5,000 | 5,382 | ||||||
State
of California GO, 5.00%, 9/1/28 |
400,000 | 415,637 | ||||||
State
of California GO, 5.00%, 4/1/30 |
5,000 | 5,645 | ||||||
State
of California GO, 5.00%, 4/1/30 |
20,000 | 22,174 | ||||||
State
of California GO, 5.00%, 9/1/31 |
50,000 | 52,747 | ||||||
State
of California GO, 5.00%, 10/1/31 |
15,000 | 16,783 | ||||||
State
of California GO, 5.00%, 11/1/31 |
900,000 | 902,223 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
State
of California GO, 5.25%, 8/1/32 (AGM) |
$ | 230,000 | $ | 268,995 | ||||
State
of California GO, 4.00%, 9/1/32 |
110,000 | 112,515 | ||||||
State
of California GO, 4.00%, 9/1/33 |
60,000 | 61,325 | ||||||
State
of California GO, 4.00%, 9/1/33 |
300,000 | 306,627 | ||||||
State
of California GO, 4.00%, 10/1/34 |
40,000 | 41,831 | ||||||
State
of California GO, 5.00%, 3/1/35 |
70,000 | 78,178 | ||||||
State
of California GO, 3.00%, 10/1/35 |
300,000 | 277,771 | ||||||
State
of California GO, 4.00%, 10/1/35 |
200,000 | 209,200 | ||||||
State
of California GO, 4.00%, 3/1/36 |
145,000 | 149,794 | ||||||
State
of California GO, 4.00%, 10/1/36 |
50,000 | 51,328 | ||||||
State
of California GO, 4.00%, 11/1/36 |
50,000 | 51,499 | ||||||
State
of California GO, 4.00%, 8/1/37 |
100,000 | 100,697 | ||||||
State
of California GO, 4.00%, 10/1/39 |
200,000 | 202,147 | ||||||
State
of California Department of Water Resources Rev., 5.00%, 12/1/24,
Prerefunded at 100% of Par(1) |
135,000 | 138,299 | ||||||
Sweetwater
Union High School District GO, 4.00%, 8/1/42 |
235,000 | 226,944 | ||||||
University
of California Rev., 5.00%, 5/15/29 |
35,000 | 36,119 | ||||||
University
of California Rev., 5.00%, 5/15/34 |
50,000 | 54,565 | ||||||
University
of California Rev., 5.00%, 5/15/36 |
65,000 | 69,174 | ||||||
University
of California Rev., 5.00%, 5/15/38 |
30,000 | 32,237 | ||||||
University
of California Rev., 5.00%, 5/15/38 |
30,000 | 33,073 | ||||||
University
of California Rev., 4.00%, 5/15/40 |
310,000 | 313,099 | ||||||
University
of California Rev., 5.00%, 5/15/40 |
450,000 | 459,418 | ||||||
13,043,563 | ||||||||
Colorado
— 1.4% |
||||||||
City
& County of Denver GO, 5.00%, 8/1/30 |
325,000 | 368,094 | ||||||
City
& County of Denver Airport System Rev., 5.00%,
11/15/23 |
50,000 | 50,162 | ||||||
City
& County of Denver Airport System Rev., 5.00%,
11/15/24 |
30,000 | 30,611 | ||||||
E-470
Public Highway Authority Rev., Capital Appreciation, 0.00%, 9/1/24
(NATL)(2) |
55,000 | 52,954 | ||||||
E-470
Public Highway Authority Rev., Capital Appreciation, 0.00%, 9/1/30
(NATL)(2) |
80,000 | 61,292 | ||||||
Regional
Transportation District COP, 4.00%, 6/1/40 |
140,000 | 133,553 | ||||||
Regional
Transportation District Sales Tax Rev., 5.00%, 11/1/28 |
30,000 | 32,935 | ||||||
State
of Colorado COP, 5.00%, 12/15/32 |
50,000 | 56,042 | ||||||
State
of Colorado COP, 4.00%, 12/15/35 |
50,000 | 50,927 | ||||||
State
of Colorado COP, 4.00%, 12/15/37 |
40,000 | 39,901 | ||||||
State
of Colorado COP, 4.00%, 12/15/38 |
30,000 | 29,815 | ||||||
State
of Colorado COP, 4.00%, 12/15/40 |
250,000 | 246,231 | ||||||
University
of Colorado Rev., 4.00%, 6/1/43 |
80,000 | 76,937 | ||||||
1,229,454 | ||||||||
Connecticut
— 2.2% |
||||||||
Connecticut
State Health & Educational Facilities Authority Rev., (Quinnipiac
University), 4.125%, 7/1/41 |
75,000 | 71,119 | ||||||
Connecticut
State Health & Educational Facilities Authority Rev., (Sacred Heart
University, Inc.), 5.00%, 7/1/42 |
400,000 | 407,492 | ||||||
State
of Connecticut GO, 5.00%, 5/15/24 |
30,000 | 30,356 | ||||||
State
of Connecticut GO, 5.00%, 4/15/25 |
25,000 | 25,702 | ||||||
State
of Connecticut GO, 5.00%, 1/15/26 |
35,000 | 36,409 | ||||||
State
of Connecticut GO, 4.00%, 1/15/31 |
50,000 | 53,034 | ||||||
State
of Connecticut GO, 5.00%, 11/15/31 |
30,000 | 30,998 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
State
of Connecticut GO, 3.00%, 1/15/32 |
$ | 20,000 | $ | 19,021 | ||||
State
of Connecticut GO, 5.00%, 10/15/34 |
50,000 | 52,202 | ||||||
State
of Connecticut GO, 4.00%, 1/15/37 |
75,000 | 76,148 | ||||||
State
of Connecticut GO, 4.00%, 4/15/38 |
225,000 | 225,193 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 9/1/28 |
55,000 | 57,894 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 9/1/29 |
40,000 | 42,010 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 8/1/31 |
25,000 | 25,731 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 5/1/32 |
90,000 | 101,863 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 5/1/33 |
25,000 | 28,306 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 10/1/33 |
60,000 | 65,064 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 5/1/37 |
75,000 | 81,574 | ||||||
State
of Connecticut, Special Tax Rev., 4.00%, 11/1/39 |
70,000 | 69,573 | ||||||
State
of Connecticut, Special Tax Rev., 3.125%, 5/1/40 |
75,000 | 62,313 | ||||||
State
of Connecticut, Special Tax Rev., 5.00%, 5/1/41 |
210,000 | 226,764 | ||||||
University
of Connecticut Rev., 4.00%, 4/15/38 |
95,000 | 93,425 | ||||||
1,882,191 | ||||||||
District
of Columbia — 4.5% |
||||||||
District
of Columbia GO, 5.00%, 10/15/30 |
100,000 | 110,657 | ||||||
District
of Columbia GO, 5.00%, 6/1/31 |
120,000 | 121,375 | ||||||
District
of Columbia GO, 5.00%, 6/1/33 |
60,000 | 60,675 | ||||||
District
of Columbia GO, 5.00%, 6/1/35 |
265,000 | 279,252 | ||||||
District
of Columbia GO, 5.00%, 6/1/36 |
100,000 | 104,974 | ||||||
District
of Columbia Rev., (Georgetown University), 5.00%, 4/1/32 |
10,000 | 10,502 | ||||||
District
of Columbia Rev., (Georgetown University), 5.00%, 4/1/33 |
25,000 | 26,263 | ||||||
District
of Columbia Rev., (Georgetown University), 5.00%, 4/1/34 |
350,000 | 367,810 | ||||||
District
of Columbia Rev., (Income Tax Revenue), 4.00%, 3/1/37 |
360,000 | 362,519 | ||||||
District
of Columbia Rev., (Income Tax Revenue), 5.00%, 3/1/38 |
100,000 | 108,997 | ||||||
District
of Columbia Rev., (Income Tax Revenue), 4.00%, 3/1/40 |
1,165,000 | 1,147,838 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 5.00%, 7/1/36 |
200,000 | 208,719 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 5.00%, 7/1/37 |
25,000 | 25,963 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 5.00%, 7/15/37 |
85,000 | 92,662 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 4.00%, 7/15/38 |
480,000 | 483,072 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 4.00%, 7/15/39 |
165,000 | 165,082 | ||||||
Washington
Metropolitan Area Transit Authority Rev., 4.00%, 7/15/40 |
215,000 | 212,961 | ||||||
3,889,321 | ||||||||
Florida
— 4.5% |
||||||||
Broward
County Airport System Rev., 4.00%, 10/1/42 |
275,000 | 264,333 | ||||||
Broward
County Water & Sewer Utility Rev., 5.00%, 10/1/38 |
15,000 | 16,195 | ||||||
Central
Florida Expressway Authority Rev., 4.00%, 7/1/31 |
10,000 | 10,100 | ||||||
Central
Florida Expressway Authority Rev., 4.00%, 7/1/35 |
180,000 | 180,227 | ||||||
Central
Florida Expressway Authority Rev., 3.25%, 7/1/36 |
60,000 | 54,357 | ||||||
Central
Florida Expressway Authority Rev., 4.00%, 7/1/37 |
95,000 | 92,785 | ||||||
Central
Florida Expressway Authority Rev., 4.00%, 7/1/38 |
65,000 | 63,605 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Central
Florida Expressway Authority Rev., 4.00%, 7/1/41 |
$ | 135,000 | $ | 127,097 | ||||
Florida
Municipal Power Agency Rev., (Florida Municipal Power Agency
All-Requirements Power Supply Project Rev.), 5.00%,
10/1/28 |
160,000 | 167,420 | ||||||
Gainesville
Utilities System Rev. Rev., 5.00%, 10/1/37 |
55,000 | 57,756 | ||||||
Hillsborough
County School Board COP, 5.00%, 7/1/26 |
105,000 | 107,376 | ||||||
JEA
Water & Sewer System Rev., 4.00%, 10/1/39 |
300,000 | 297,650 | ||||||
Miami-Dade
County GO, 4.00%, 7/1/33 |
50,000 | 50,188 | ||||||
Miami-Dade
County Aviation Rev., 5.00%, 10/1/28 |
50,000 | 52,328 | ||||||
Miami-Dade
County Aviation Rev., 5.00%, 10/1/37 |
85,000 | 85,611 | ||||||
Miami-Dade
County Transit System Rev., 4.00%, 7/1/38 |
65,000 | 64,970 | ||||||
Miami-Dade
County Water & Sewer System Rev., 5.00%, 10/1/23 |
10,000 | 10,011 | ||||||
Miami-Dade
County Water & Sewer System Rev., 5.00%, 10/1/24 |
50,000 | 50,842 | ||||||
Miami-Dade
County Water & Sewer System Rev., 5.00%, 10/1/32 |
130,000 | 133,182 | ||||||
Miami-Dade
County Water & Sewer System Rev., 4.00%, 10/1/36 |
500,000 | 502,395 | ||||||
Miami-Dade
County Water & Sewer System Rev., 4.00%, 10/1/38 |
140,000 | 140,198 | ||||||
Miami-Dade
County Water & Sewer System Rev., 3.125%, 10/1/39 |
25,000 | 20,683 | ||||||
Orange
County Convention Center Rev., 4.00%, 10/1/36 |
50,000 | 49,646 | ||||||
Orange
County Convention Center/Orlando Rev., 5.00%, 10/1/24 |
80,000 | 81,010 | ||||||
Orange
County School Board COP, 5.00%, 8/1/33 |
50,000 | 52,602 | ||||||
Orange
County School Board COP, 5.00%, 8/1/34 |
90,000 | 94,555 | ||||||
Palm
Beach County School District COP, 5.00%, 8/1/29 |
130,000 | 140,779 | ||||||
Palm
Beach County School District COP, 5.00%, 8/1/31 |
110,000 | 112,641 | ||||||
Port
State Lucie Utility System Rev., 4.00%, 9/1/36 |
130,000 | 130,113 | ||||||
School
Board of Miami-Dade County COP, 5.00%, 2/1/25 |
60,000 | 61,362 | ||||||
School
Board of Miami-Dade County COP, 5.00%, 2/1/27 |
80,000 | 82,809 | ||||||
School
Board of Miami-Dade County COP, 5.00%, 2/1/29 |
60,000 | 61,896 | ||||||
School
Board of Miami-Dade County COP, 5.00%, 5/1/30 |
60,000 | 61,187 | ||||||
School
Board of Miami-Dade County COP, 5.00%, 5/1/32 |
80,000 | 81,621 | ||||||
School
District of Broward County COP, 5.00%, 7/1/32 |
25,000 | 27,694 | ||||||
Tampa
Bay Water Rev., 5.50%, 10/1/24 (NATL) |
55,000 | 56,208 | ||||||
Tampa-Hillsborough
County Expressway Authority Rev., 4.00%, 7/1/42 |
250,000 | 234,962 | ||||||
3,878,394 | ||||||||
Georgia
— 2.0% |
||||||||
Atlanta
Department of Aviation Rev., 5.00%, 7/1/27 |
10,000 | 10,653 | ||||||
Atlanta
Water & Wastewater Rev., 5.75%, 11/1/30 (AGM) |
10,000 | 11,783 | ||||||
Atlanta
Water & Wastewater Rev., 5.00%, 11/1/40 |
15,000 | 15,288 | ||||||
DeKalb
County Water & Sewerage Rev., 5.25%, 10/1/32 (AGM) |
75,000 | 79,525 | ||||||
Fulton
County Water & Sewerage Rev., 3.00%, 1/1/40 |
150,000 | 124,742 | ||||||
Georgia
State Road & Tollway Authority Rev., 5.00%, 6/1/30 |
80,000 | 90,100 | ||||||
Gwinnett
County School District GO, 4.00%, 2/1/37 |
200,000 | 205,596 | ||||||
Metropolitan
Atlanta Rapid Transit Authority Rev., 5.00%, 7/1/33 |
310,000 | 325,550 | ||||||
Metropolitan
Atlanta Rapid Transit Authority Rev., 3.25%, 7/1/37 |
45,000 | 41,037 | ||||||
Metropolitan
Atlanta Rapid Transit Authority Rev., 3.25%, 7/1/39 |
260,000 | 232,330 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Private
Colleges & Universities Authority Rev., (Emory University), 5.00%,
9/1/29 |
$ | 20,000 | $ | 22,290 | ||||
Private
Colleges & Universities Authority Rev., (Emory University), 4.00%,
9/1/38 |
250,000 | 254,655 | ||||||
Private
Colleges & Universities Authority Rev., (Emory University), 4.00%,
9/1/39 |
50,000 | 50,731 | ||||||
Private
Colleges & Universities Authority Rev., (Emory University), 4.00%,
9/1/41 |
235,000 | 236,877 | ||||||
1,701,157 | ||||||||
Hawaii
— 0.7% |
||||||||
City
& County Honolulu Wastewater System Rev., 3.00%,
7/1/41 |
90,000 | 73,441 | ||||||
City
& County of Honolulu GO, 5.00%, 3/1/25 |
45,000 | 46,099 | ||||||
City
& County of Honolulu GO, 5.00%, 9/1/30 |
185,000 | 201,417 | ||||||
City
& County of Honolulu GO, 5.00%, 3/1/31 |
45,000 | 50,538 | ||||||
State
of Hawaii GO, 5.00%, 10/1/30 |
60,000 | 64,235 | ||||||
State
of Hawaii GO, 5.00%, 1/1/36 |
35,000 | 37,352 | ||||||
State
of Hawaii GO, 3.00%, 4/1/36 |
30,000 | 27,324 | ||||||
State
of Hawaii GO, 4.00%, 5/1/36 |
10,000 | 10,083 | ||||||
State
of Hawaii GO, 5.00%, 1/1/38 |
75,000 | 78,940 | ||||||
State
of Hawaii Airports System Rev., 5.00%, 7/1/33 |
35,000 | 38,635 | ||||||
628,064 | ||||||||
Idaho
— 0.2% |
||||||||
Idaho
Housing & Finance Association Rev., 4.00%, 7/15/38 |
160,000 | 155,678 | ||||||
Illinois
— 6.7% |
||||||||
Chicago
GO, 5.00%, 1/1/34 |
65,000 | 69,543 | ||||||
Chicago
GO, 5.00%, 1/1/34 |
200,000 | 212,530 | ||||||
Chicago
GO, 4.00%, 1/1/36 |
145,000 | 138,629 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/30 |
45,000 | 45,700 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/31 |
100,000 | 101,511 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/32 |
25,000 | 25,806 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/32 |
170,000 | 172,578 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/34 |
25,000 | 25,787 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/35 |
90,000 | 94,135 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/36 |
115,000 | 118,050 | ||||||
Chicago
O'Hare International Airport Rev., 4.00%, 1/1/37 |
100,000 | 100,246 | ||||||
Chicago
O'Hare International Airport Rev., 5.00%, 1/1/37 |
160,000 | 165,604 | ||||||
Chicago
Waterworks Rev., 5.00%, 11/1/39 |
340,000 | 342,071 | ||||||
Cook
County Sales Tax Rev., 4.00%, 11/15/40 |
285,000 | 276,414 | ||||||
Cook
County Sales Tax Rev., 4.00%, 11/15/41 |
100,000 | 96,588 | ||||||
Illinois
Finance Authority Rev., (DePaul University), 4.00%,
10/1/40 |
135,000 | 127,254 | ||||||
Illinois
Finance Authority Rev., (State of Illinois Water Revolving Fund - Clean
Water Program), 5.00%, 7/1/32 |
115,000 | 121,991 | ||||||
Illinois
Finance Authority Rev., (State of Illinois Water Revolving Fund - Clean
Water Program), 5.00%, 7/1/35 |
25,000 | 26,363 | ||||||
Illinois
Finance Authority Rev., (State of Illinois Water Revolving Fund - Clean
Water Program), 4.00%, 7/1/38 |
90,000 | 89,394 | ||||||
Illinois
Municipal Electric Agency Rev., 5.00%, 2/1/26 |
150,000 | 153,967 | ||||||
Illinois
Municipal Electric Agency Rev., 5.00%, 2/1/29 |
140,000 | 143,469 | ||||||
Illinois
Municipal Electric Agency Rev., 4.00%, 2/1/33 |
240,000 | 238,928 | ||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/28 |
20,000 | 21,484 | ||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/30 |
25,000 | 27,665 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/30 |
$ | 135,000 | $ | 149,389 | ||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/31 |
30,000 | 33,189 | ||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/37 |
1,000,000 | 1,002,441 | ||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/40 |
135,000 | 137,630 | ||||||
Illinois
State Toll Highway Authority Rev., 5.00%, 1/1/41 |
75,000 | 76,741 | ||||||
Illinois
State Toll Highway Authority Rev., 4.00%, 1/1/42 |
135,000 | 130,410 | ||||||
Metropolitan
Water Reclamation District of Greater Chicago GO, 5.00%,
12/1/25 |
100,000 | 103,454 | ||||||
Northern
Illinois Municipal Power Agency Rev., 4.00%, 12/1/41 |
100,000 | 93,635 | ||||||
Sales
Tax Securitization Corp. Rev., 5.00%, 1/1/27 |
55,000 | 57,500 | ||||||
Sales
Tax Securitization Corp. Rev., 5.50%, 1/1/32 |
10,000 | 10,953 | ||||||
Sales
Tax Securitization Corp. Rev., 5.00%, 1/1/37 (BAM) |
150,000 | 159,549 | ||||||
Sales
Tax Securitization Corp. Rev., 4.00%, 1/1/40 (BAM) |
135,000 | 130,315 | ||||||
Sales
Tax Securitization Corp. Rev., 5.00%, 1/1/43 |
150,000 | 154,181 | ||||||
Springfield
Electric Rev., 4.00%, 3/1/40 (AGM) |
20,000 | 18,947 | ||||||
State
of Illinois GO, 5.00%, 2/1/26 |
40,000 | 41,188 | ||||||
State
of Illinois GO, 5.00%, 2/1/27 |
200,000 | 200,613 | ||||||
State
of Illinois GO, 5.00%, 10/1/31 |
100,000 | 108,766 | ||||||
State
of Illinois GO, 5.00%, 3/1/34 |
40,000 | 42,978 | ||||||
State
of Illinois GO, 5.00%, 5/1/35 |
35,000 | 35,102 | ||||||
State
of Illinois GO, 4.00%, 11/1/38 |
20,000 | 19,083 | ||||||
State
of Illinois GO, 5.00%, 5/1/39 |
150,000 | 150,026 | ||||||
State
of Illinois GO, 5.50%, 5/1/39 |
15,000 | 16,110 | ||||||
State
of Illinois Rev., 5.00%, 6/15/26 |
15,000 | 15,013 | ||||||
5,822,920 | ||||||||
Indiana
— 0.7% |
||||||||
Indiana
Finance Authority Rev., (CWA Authority, Inc.), 4.00%,
10/1/36 |
390,000 | 393,448 | ||||||
Indiana
Municipal Power Agency Rev., 5.00%, 1/1/33 |
50,000 | 51,670 | ||||||
Indiana
Municipal Power Agency Rev., 4.00%, 1/1/42 |
200,000 | 188,660 | ||||||
633,778 | ||||||||
Kentucky
— 0.1% |
||||||||
Kentucky
Asset Liability Commission Rev., 5.00%, 9/1/26 |
50,000 | 50,747 | ||||||
Kentucky
State Property & Building Commission Rev., (Kentucky Finance and
Administration Cabinet), 5.00%, 11/1/25 |
50,000 | 51,705 | ||||||
102,452 | ||||||||
Louisiana
— 0.2% |
||||||||
East
Baton Rouge Sewerage Commission Rev., 5.00%, 2/1/25, Prerefunded at 100%
of Par(1) |
85,000 | 87,048 | ||||||
State
of Louisiana GO, 5.00%, 8/1/27 |
75,000 | 78,902 | ||||||
165,950 | ||||||||
Maryland
— 2.1% |
||||||||
Montgomery
County GO, 5.00%, 11/1/24 |
35,000 | 35,676 | ||||||
Prince
County George's GO, 5.00%, 7/15/31 |
100,000 | 109,149 | ||||||
State
of Maryland GO, 5.00%, 3/15/25 |
25,000 | 25,669 | ||||||
State
of Maryland GO, 5.00%, 8/1/27 |
500,000 | 537,867 | ||||||
State
of Maryland GO, 5.00%, 3/15/29 |
25,000 | 27,681 | ||||||
State
of Maryland GO, 5.00%, 8/1/30 |
15,000 | 16,979 | ||||||
State
of Maryland GO, 5.00%, 3/15/31 |
25,000 | 26,610 | ||||||
State
of Maryland GO, 3.25%, 3/15/32 |
25,000 | 24,829 | ||||||
State
of Maryland GO, 5.00%, 8/1/35 |
105,000 | 117,423 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
State
of Maryland GO, 5.00%, 6/1/36 |
$ | 150,000 | $ | 170,153 | ||||
State
of Maryland Department of Transportation Rev., 2.125%,
10/1/31 |
70,000 | 62,063 | ||||||
State
of Maryland Department of Transportation Rev., 4.00%,
10/1/32 |
690,000 | 708,984 | ||||||
1,863,083 | ||||||||
Massachusetts
— 3.1% |
||||||||
Massachusetts
GO, 5.50%, 8/1/30 (Ambac) |
150,000 | 171,667 | ||||||
Massachusetts
GO, 5.00%, 9/1/30 |
10,000 | 11,107 | ||||||
Massachusetts
GO, 5.00%, 5/1/31 |
165,000 | 166,639 | ||||||
Massachusetts
GO, 5.00%, 2/1/35 |
50,000 | 53,009 | ||||||
Massachusetts
GO, 3.00%, 7/1/35 |
100,000 | 92,878 | ||||||
Massachusetts
GO, 5.00%, 9/1/37 |
50,000 | 53,437 | ||||||
Massachusetts
GO, 4.00%, 12/1/39 |
50,000 | 49,820 | ||||||
Massachusetts
GO, 4.00%, 11/1/40 |
275,000 | 274,392 | ||||||
Massachusetts
GO, 5.00%, 11/1/41 |
55,000 | 57,516 | ||||||
Massachusetts
GO, 4.00%, 4/1/42 |
645,000 | 635,837 | ||||||
Massachusetts
GO, 5.00%, 11/1/45 |
75,000 | 79,644 | ||||||
Massachusetts
GO, 5.00%, 11/1/50 |
75,000 | 79,138 | ||||||
Massachusetts
Bay Transportation Authority Rev., 0.00%, Capital Appreciation,
7/1/31(2) |
500,000 | 366,938 | ||||||
Massachusetts
Development Finance Agency Rev., (Northeastern University), 5.00%,
3/1/39 |
75,000 | 75,387 | ||||||
Massachusetts
Development Finance Agency Rev., (President and Fellows of Harvard
College), 5.00%, 10/15/29 |
10,000 | 11,239 | ||||||
Massachusetts
Development Finance Agency Rev., (Suffolk University), 4.00%,
7/1/39 |
105,000 | 94,353 | ||||||
Massachusetts
School Building Authority Rev., 5.00%, 11/15/33 |
25,000 | 26,388 | ||||||
Massachusetts
School Building Authority Rev., 5.00%, 8/15/37 |
60,000 | 61,448 | ||||||
Massachusetts
Transportation Fund Rev., 5.00%, 6/1/25 |
150,000 | 154,532 | ||||||
Massachusetts
Transportation Trust Fund Metropolitan Highway System Rev., 5.00%,
1/1/33 |
155,000 | 169,149 | ||||||
2,684,518 | ||||||||
Michigan
— 3.0% |
||||||||
Michigan
Finance Authority Rev., (Detroit Public Lighting Authority Utility Users
Tax Rev.), 5.00%, 7/1/39 |
165,000 | 163,742 | ||||||
Michigan
Finance Authority Rev., (Detroit), 4.50%, 10/1/29 |
170,000 | 167,671 | ||||||
Michigan
Finance Authority Rev., (Great Lakes Water Authority Sewage Disposal
System Rev.), 5.00%, 7/1/26 (AGM) |
25,000 | 25,278 | ||||||
Michigan
State Building Authority Rev., 5.00%, 10/15/29 |
1,320,000 | 1,322,007 | ||||||
Michigan
State Building Authority Rev., 5.00%, 4/15/30 |
30,000 | 30,881 | ||||||
Michigan
State Building Authority Rev., 5.00%, 10/15/30 |
10,000 | 10,474 | ||||||
State
of Michigan Rev., 5.00%, 3/15/24 |
220,000 | 221,730 | ||||||
State
of Michigan Trunk Line Rev., 5.00%, 11/15/29 |
75,000 | 83,240 | ||||||
State
of Michigan Trunk Line Rev., 4.00%, 11/15/37 |
25,000 | 25,209 | ||||||
State
of Michigan Trunk Line Rev., 4.00%, 11/15/37 |
75,000 | 75,700 | ||||||
State
of Michigan Trunk Line Rev., 4.00%, 11/15/41 |
270,000 | 266,847 | ||||||
University
of Michigan Rev., 5.00%, 4/1/26, Prerefunded at 100% of Par(1) |
20,000 | 20,956 | ||||||
Wayne
County Airport Authority Rev., (Detroit Metropolitan Wayne County
Airport), 5.00%, 12/1/40 |
200,000 | 202,742 | ||||||
2,616,477 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Minnesota
— 0.2% |
||||||||
Minneapolis-St.
Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/27 |
$ | 30,000 | $ | 31,701 | ||||
Minneapolis-St.
Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/28 |
25,000 | 26,415 | ||||||
Minneapolis-St.
Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/30 |
20,000 | 21,075 | ||||||
Minneapolis-St.
Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/31 |
100,000 | 105,262 | ||||||
184,453 | ||||||||
Mississippi† |
||||||||
State
of Mississippi GO, 5.00%, 10/1/27, Prerefunded at 100% of Par(1) |
25,000 | 26,915 | ||||||
Missouri
— 0.4% |
||||||||
Missouri
Joint Municipal Electric Utility Commission Rev., 5.00%,
12/1/40 |
275,000 | 278,281 | ||||||
Springfield
School District No. R-12 GO, 3.00%, 3/1/39 |
20,000 | 16,646 | ||||||
St.
Louis Airport Rev., 5.50%, 7/1/28 (NATL) |
25,000 | 27,510 | ||||||
322,437 | ||||||||
Nebraska
— 1.4% |
||||||||
Omaha
Public Power District Rev., 5.00%, 2/1/31 |
30,000 | 32,841 | ||||||
Omaha
Public Power District Rev., 4.00%, 2/1/39 |
1,210,000 | 1,194,574 | ||||||
1,227,415 | ||||||||
Nevada
— 1.4% |
||||||||
Clark
County Passenger Facility Charge Rev., 5.00%, 7/1/33 |
55,000 | 59,769 | ||||||
Clark
County School District GO, 5.00%, 6/15/26 |
15,000 | 15,516 | ||||||
Clark
County School District GO, 5.00%, 6/15/27 |
125,000 | 129,355 | ||||||
Las
Vegas Convention & Visitors Authority Rev., (Clark County & City
of Las Vegas Combined Room Tax Rev.), 5.00%, 7/1/43 |
500,000 | 516,396 | ||||||
Las
Vegas Valley Water District GO, 4.00%, 6/1/39 |
200,000 | 198,975 | ||||||
State
of Nevada Highway Improvement Rev., 5.00%, 12/1/25 |
50,000 | 51,946 | ||||||
State
of Nevada Highway Improvement Rev., 5.00%, 12/1/26 |
45,000 | 47,071 | ||||||
State
of Nevada Highway Improvement Rev., 5.00%, 12/1/27 |
50,000 | 52,287 | ||||||
State
of Nevada Highway Improvement Rev., 5.00%, 12/1/31 |
105,000 | 110,739 | ||||||
Truckee
Meadows Water Authority Rev., 5.00%, 7/1/34 |
25,000 | 25,983 | ||||||
1,208,037 | ||||||||
New
Jersey — 3.4% |
||||||||
Garden
State Preservation Trust Rev., 5.75%, 11/1/28 (AGM) |
25,000 | 26,692 | ||||||
Garden
State Preservation Trust Rev., Capital Appreciation, 0.00%, 11/1/28
(AGM)(2) |
5,000 | 4,162 | ||||||
Hudson
County Improvement Authority Rev., 4.00%, 10/1/46 |
100,000 | 95,846 | ||||||
Hudson
County Improvement Authority Rev., 4.00%, 10/1/51 |
150,000 | 140,918 | ||||||
New
Jersey Economic Development Authority Rev., (New Jersey Transit Corp.),
4.00%, 11/1/25 |
30,000 | 30,232 | ||||||
New
Jersey Economic Development Authority Rev., (New Jersey Transit Corp.),
5.00%, 11/1/26 |
50,000 | 52,355 | ||||||
New
Jersey Economic Development Authority Rev., (New Jersey Transit Corp.),
4.00%, 11/1/27 |
25,000 | 25,534 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 5.00%, 6/15/25, Prerefunded at 100% of
Par(1) |
20,000 | 20,649 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 5.00%, 6/15/25, Prerefunded at 100% of
Par(1) |
25,000 | 25,811 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 4.25%, 6/15/26 |
$ | 95,000 | $ | 95,498 | ||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 5.00%, 12/15/26, Prerefunded at 100% of
Par(1) |
140,000 | 148,335 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 5.50%, 12/15/26, Prerefunded at 100% of
Par(1) |
20,000 | 21,500 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 4.00%, 6/15/27, Prerefunded at 100% of
Par(1) |
25,000 | 25,912 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 4.375%, 6/15/27 |
25,000 | 25,221 | ||||||
New
Jersey Economic Development Authority Rev., (State of New Jersey
Department of the Treasury), 5.00%, 6/15/27, Prerefunded at 100% of
Par(1) |
90,000 | 96,477 | ||||||
New
Jersey Educational Facilities Authority Rev., (Montclair State University,
Inc.), 5.00%, 7/1/39 |
20,000 | 20,120 | ||||||
New
Jersey Educational Facilities Authority Rev., (State of New Jersey),
5.00%, 9/1/36 |
55,000 | 56,365 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
6/15/27 |
5,000 | 5,203 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
12/15/27 |
25,000 | 26,641 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
12/15/27 |
35,000 | 37,297 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
6/15/30 |
25,000 | 26,019 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
6/15/30 |
100,000 | 109,632 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
6/15/31 |
140,000 | 145,554 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., 5.00%,
6/15/35 |
50,000 | 53,132 | ||||||
New
Jersey Transportation Trust Fund Authority Rev., (State of New Jersey),
4.25%, 6/15/40 |
850,000 | 852,814 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/30 |
285,000 | 288,125 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/31 |
15,000 | 16,092 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/31 |
20,000 | 21,456 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/32 |
10,000 | 10,720 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/33 |
25,000 | 26,317 | ||||||
New
Jersey Turnpike Authority Rev., 4.00%, 1/1/34 |
25,000 | 25,587 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/34 |
25,000 | 26,277 | ||||||
New
Jersey Turnpike Authority Rev., 4.00%, 1/1/35 |
95,000 | 96,781 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/35 |
10,000 | 10,702 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/36 |
10,000 | 10,635 | ||||||
New
Jersey Turnpike Authority Rev., 3.25%, 1/1/38 |
30,000 | 25,959 | ||||||
New
Jersey Turnpike Authority Rev., 5.00%, 1/1/40 |
15,000 | 15,662 | ||||||
State
of New Jersey GO, 5.00%, 6/1/28 |
50,000 | 54,179 | ||||||
State
of New Jersey GO, 4.00%, 6/1/30 |
100,000 | 104,368 | ||||||
State
of New Jersey GO, 4.00%, 6/1/31 |
25,000 | 26,192 | ||||||
State
of New Jersey GO, 4.00%, 6/1/33 |
40,000 | 40,015 | ||||||
State
of New Jersey GO, 4.00%, 6/1/34 |
20,000 | 20,165 | ||||||
2,987,151 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
New
Mexico — 0.1% |
||||||||
State
of New Mexico Severance Tax Permanent Fund Rev., 5.00%, 7/1/31
|
$ | 45,000 | $ | 51,215 | ||||
New
York — 15.1% |
||||||||
Dutchess
County Local Development Corp. Rev., (Vassar College), 5.00%,
7/1/42 |
20,000 | 20,607 | ||||||
Hudson
Yards Infrastructure Corp. Rev., 5.00%, 2/15/28 |
25,000 | 26,624 | ||||||
Hudson
Yards Infrastructure Corp. Rev., 5.00%, 2/15/29 |
60,000 | 63,802 | ||||||
Hudson
Yards Infrastructure Corp. Rev., 5.00%, 2/15/32 |
20,000 | 21,198 | ||||||
Hudson
Yards Infrastructure Corp. Rev., 5.00%, 2/15/37 |
160,000 | 167,179 | ||||||
Hudson
Yards Infrastructure Corp. Rev., 5.00%, 2/15/42 |
30,000 | 31,044 | ||||||
Long
Island Power Authority Rev., 5.00%, 9/1/33 |
55,000 | 59,879 | ||||||
Long
Island Power Authority Rev., 5.00%, 9/1/38 |
100,000 | 105,662 | ||||||
Long
Island Power Authority Rev., 5.00%, 9/1/39 |
350,000 | 354,070 | ||||||
Long
Island Power Authority Rev., 5.00%, 9/1/41 |
165,000 | 170,297 | ||||||
Metropolitan
Transportation Authority Rev., 5.00%, 11/15/25 |
110,000 | 112,977 | ||||||
Metropolitan
Transportation Authority Rev., 4.00%, 11/15/36 |
40,000 | 39,105 | ||||||
Metropolitan
Transportation Authority Rev., 5.00%, 11/15/37 |
40,000 | 40,309 | ||||||
Metropolitan
Transportation Authority Rev., 4.00%, 11/15/41 (AGM) |
220,000 | 212,845 | ||||||
Metropolitan
Transportation Authority Rev., 5.00%, 11/15/41 |
100,000 | 100,869 | ||||||
Metropolitan
Transportation Authority Rev., 4.25%, 11/15/42 |
135,000 | 128,106 | ||||||
Metropolitan
Transportation Authority Rev., 5.00%, 11/15/44 (AGM) |
25,000 | 25,789 | ||||||
Metropolitan
Transportation Authority Rev., (Metropolitan Transportation Authority
Dedicated Tax Fund), 5.25%, 11/15/33 |
25,000 | 27,089 | ||||||
Metropolitan
Transportation Authority Rev., (Metropolitan Transportation Authority
Dedicated Tax Fund), 5.25%, 11/15/35 |
25,000 | 26,392 | ||||||
Nassau
County GO, 5.00%, 10/1/27 |
80,000 | 86,510 | ||||||
New
York City GO, 5.00%, 8/1/25 |
165,000 | 167,691 | ||||||
New
York City GO, 5.00%, 8/1/25 |
200,000 | 206,765 | ||||||
New
York City GO, 5.00%, 8/1/26 |
25,000 | 26,320 | ||||||
New
York City GO, 5.00%, 8/1/27 |
100,000 | 107,230 | ||||||
New
York City GO, 5.00%, 8/1/28 |
10,000 | 10,765 | ||||||
New
York City GO, 5.25%, 10/1/30 |
50,000 | 53,969 | ||||||
New
York City GO, 5.00%, 8/1/37 |
105,000 | 108,040 | ||||||
New
York City GO, 5.00%, 12/1/38 |
30,000 | 31,672 | ||||||
New
York City GO, 4.00%, 8/1/39 |
360,000 | 354,160 | ||||||
New
York City GO, 4.00%, 8/1/41 |
400,000 | 389,584 | ||||||
New
York City GO, 5.00%, 12/1/41 |
80,000 | 82,292 | ||||||
New
York City GO, 5.00%, 9/1/42 |
185,000 | 198,276 | ||||||
New
York City Industrial Development Agency Rev., (Yankee Stadium LLC), 4.00%,
3/1/45 (AGM) |
100,000 | 93,430 | ||||||
New
York City Transitional Finance Authority Building Aid Rev., 5.00%,
7/15/29 |
25,000 | 26,824 | ||||||
New
York City Transitional Finance Authority Building Aid Rev., 5.00%,
7/15/35 |
25,000 | 26,604 | ||||||
New
York City Transitional Finance Authority Building Aid Rev., 4.00%,
7/15/36 |
50,000 | 50,322 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Rev., 4.00%,
11/1/36 |
155,000 | 156,534 | ||||||
New
York City Transitional Finance Authority Future Tax Secured Rev., 4.00%,
11/1/37 |
130,000 | 130,339 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
New
York City Transitional Finance Authority Future Tax Secured Rev., 4.00%,
11/1/38 |
$ | 50,000 | $ | 49,898 | ||||
New
York City Transitional Finance Authority Future Tax Secured Rev., 4.00%,
8/1/41 |
75,000 | 73,834 | ||||||
New
York Convention Center Development Corp. Rev., (New York City Hotel Unit
Fee Rev.), 5.00%, 11/15/40 |
75,000 | 76,025 | ||||||
New
York State Dormitory Authority Rev., (Icahn School of Medicine at Mount
Sinai), 5.00%, 7/1/40 |
115,000 | 115,768 | ||||||
New
York State Dormitory Authority Rev., (New York University), 5.00%,
7/1/34 |
75,000 | 77,084 | ||||||
New
York State Dormitory Authority Rev., (New York University), 4.00%,
7/1/36 |
50,000 | 50,348 | ||||||
New
York State Dormitory Authority Rev., (New York University), 5.00%,
7/1/36 |
100,000 | 103,838 | ||||||
New
York State Dormitory Authority Rev., (New York University), 5.00%,
7/1/39 |
10,000 | 10,324 | ||||||
New
York State Dormitory Authority Rev., (New York University), 4.00%,
7/1/40 |
285,000 | 274,938 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 2/15/24(1) |
60,000 | 60,457 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/26 |
35,000 | 36,058 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 2/15/30 |
100,000 | 106,748 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/30 |
500,000 | 542,578 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/32 |
40,000 | 43,391 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/32 |
40,000 | 44,945 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/32 |
100,000 | 109,674 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 4.00%, 2/15/37 |
75,000 | 75,733 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 4.00%, 2/15/38 |
65,000 | 65,007 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 4.00%, 2/15/39 |
200,000 | 198,407 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 3/15/39 |
25,000 | 26,508 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 4.00%, 3/15/40 |
100,000 | 98,610 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 2/15/41 |
125,000 | 131,977 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 3.00%, 3/15/41 |
530,000 | 427,287 | ||||||
New
York State Dormitory Authority Rev., (State of New York Personal Income
Tax Rev.), 5.00%, 2/15/42 |
100,000 | 103,484 | ||||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/32 |
75,000 | 75,554 | ||||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/33 |
60,000 | 62,690 | ||||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/34 |
165,000 | 169,825 | ||||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/36 |
50,000 | 53,065 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/40 |
$ | 105,000 | $ | 110,433 | ||||
New
York State Dormitory Authority Rev., (State of New York Sales Tax Rev.),
5.00%, 3/15/42 |
25,000 | 26,057 | ||||||
New
York State Dormitory Authority Rev., (Trustees of Columbia University in
the New York City), 5.00%, 10/1/38 |
70,000 | 75,087 | ||||||
New
York State Thruway Authority Rev., 5.00%, 1/1/26 |
40,000 | 40,185 | ||||||
New
York State Thruway Authority Rev., 5.00%, 1/1/29 |
100,000 | 101,908 | ||||||
New
York State Thruway Authority Rev., 4.00%, 1/1/38 |
100,000 | 98,392 | ||||||
New
York State Thruway Authority Rev., 4.00%, 1/1/39 |
100,000 | 96,761 | ||||||
New
York State Thruway Authority Rev., 4.00%, 1/1/40 |
35,000 | 33,912 | ||||||
New
York State Thruway Authority Rev., (State of New York Personal Income Tax
Rev.), 4.00%, 3/15/37 |
100,000 | 100,459 | ||||||
New
York State Thruway Authority Rev., (State of New York Personal Income Tax
Rev.), 5.00%, 3/15/40 |
120,000 | 130,080 | ||||||
New
York State Thruway Authority Rev., (State of New York Personal Income Tax
Rev.), 4.00%, 3/15/41 |
25,000 | 24,098 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/24, Prerefunded at 100% of Par(1) |
30,000 | 30,272 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/26 |
55,000 | 57,440 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/26, Prerefunded at 100% of Par(1) |
115,000 | 120,227 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/29 |
65,000 | 67,042 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/31 |
25,000 | 26,678 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/31 |
50,000 | 51,946 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/31 |
110,000 | 110,813 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/32 |
25,000 | 27,974 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 4.00%, 3/15/34 |
150,000 | 156,267 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/34 |
60,000 | 60,431 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/35 |
25,000 | 27,678 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/36 |
50,000 | 53,804 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 4.00%, 3/15/37 |
30,000 | 30,328 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 4.00%, 3/15/37 |
85,000 | 85,378 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/38 |
200,000 | 214,870 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/39 |
60,000 | 63,492 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 4.00%, 3/15/41 |
65,000 | 63,832 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/41 |
50,000 | 53,073 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
New
York State Urban Development Corp. Rev., (State of New York Personal
Income Tax Rev.), 5.00%, 3/15/41 |
$ | 110,000 | $ | 116,332 | ||||
New
York State Urban Development Corp. Rev., (State of New York Sales Tax
Rev.), 5.00%, 3/15/36 |
15,000 | 16,287 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Sales Tax
Rev.), 5.00%, 3/15/36 |
140,000 | 157,050 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Sales Tax
Rev.), 4.00%, 3/15/39 |
1,390,000 | 1,386,751 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Sales Tax
Rev.), 5.00%, 3/15/39 |
70,000 | 74,526 | ||||||
New
York State Urban Development Corp. Rev., (State of New York Sales Tax
Rev.), 4.00%, 3/15/43 |
75,000 | 72,589 | ||||||
Port
Authority of New York & New Jersey Rev., 5.00%,
7/15/29 |
10,000 | 10,872 | ||||||
Port
Authority of New York & New Jersey Rev., 5.00%,
10/15/31 |
5,000 | 5,168 | ||||||
Port
Authority of New York & New Jersey Rev., 5.00%,
7/15/33 |
15,000 | 16,840 | ||||||
Port
Authority of New York & New Jersey Rev., 5.00%,
7/15/34 |
425,000 | 459,817 | ||||||
Port
Authority of New York & New Jersey Rev., 5.00%,
7/15/35 |
40,000 | 44,278 | ||||||
Port
Authority of New York & New Jersey Rev., 4.00%,
7/15/37 |
100,000 | 100,843 | ||||||
Sales
Tax Asset Receivable Corp. Rev., 5.00%, 10/15/24, Prerefunded at 100% of
Par(1) |
10,000 | 10,185 | ||||||
Sales
Tax Asset Receivable Corp. Rev., 5.00%, 10/15/24(1) |
50,000 | 50,927 | ||||||
Suffolk
County Water Authority Rev., 3.00%, 6/1/32 |
10,000 | 9,898 | ||||||
Suffolk
County Water Authority Rev., 3.25%, 6/1/43 |
15,000 | 12,671 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/23 |
100,000 | 100,314 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/25 |
20,000 | 20,757 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/27 |
60,000 | 63,671 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/27 |
80,000 | 86,132 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/28 |
50,000 | 54,776 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/34 |
95,000 | 100,288 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/37 |
200,000 | 208,587 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/38 |
50,000 | 52,056 | ||||||
Triborough
Bridge & Tunnel Authority Rev., 5.00%, 11/15/41 |
100,000 | 102,872 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 12/15/25 |
35,000 | 35,135 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 6/15/27 |
40,000 | 41,300 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 6/15/28 |
25,000 | 26,218 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 12/15/32 |
85,000 | 88,281 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 12/15/33 |
25,000 | 25,954 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 12/15/34 |
85,000 | 88,956 | ||||||
Utility
Debt Securitization Authority Rev., 5.00%, 12/15/36 |
50,000 | 51,607 | ||||||
13,136,080 | ||||||||
North
Carolina — 0.8% |
||||||||
Charlotte
Water & Sewer System Rev., 5.00%, 7/1/40 |
25,000 | 25,479 | ||||||
North
Carolina Municipal Power Agency No. 1 Rev., 5.00%, 1/1/31 |
50,000 | 51,417 | ||||||
North
Carolina Turnpike Authority Rev., 0.00%, Capital Appreciation,
1/1/41(2) |
500,000 | 229,036 | ||||||
State
of North Carolina GO, 5.00%, 6/1/29 |
60,000 | 66,832 | ||||||
State
of North Carolina Rev., 5.00%, 3/1/30 |
10,000 | 10,992 | ||||||
State
of North Carolina Rev., 5.00%, 3/1/33 |
115,000 | 126,101 | ||||||
Wake
County GO, 5.00%, 3/1/24 |
160,000 | 161,384 | ||||||
671,241 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Ohio
— 2.5% |
||||||||
American
Municipal Power, Inc. Rev., 5.00%, 2/15/33 |
$ | 90,000 | $ | 98,712 | ||||
American
Municipal Power, Inc. Rev., 5.00%, 2/15/35 |
100,000 | 108,955 | ||||||
American
Municipal Power, Inc. Rev., 4.00%, 2/15/36 |
45,000 | 44,844 | ||||||
American
Municipal Power, Inc. Rev., 4.00%, 2/15/37 |
435,000 | 427,126 | ||||||
American
Municipal Power, Inc. Rev., 4.00%, 2/15/38 |
50,000 | 48,563 | ||||||
American
Municipal Power, Inc. Rev., 5.00%, 2/15/42 |
400,000 | 401,354 | ||||||
Cincinnati
City School District GO, 5.25%, 12/1/29 (NATL) |
15,000 | 16,844 | ||||||
Cincinnati
City School District GO, 5.25%, 12/1/30 (NATL) |
30,000 | 34,123 | ||||||
Cincinnati
City School District GO, 5.25%, 12/1/31 (NATL) |
5,000 | 5,773 | ||||||
Hamilton
County Sales Tax Rev. Rev., 4.00%, 12/1/32 |
450,000 | 453,811 | ||||||
Northeast
Ohio Regional Sewer District Rev., 3.00%, 11/15/39 |
230,000 | 191,189 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%,
12/1/36 |
75,000 | 82,162 | ||||||
Ohio
Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%,
12/1/39 |
100,000 | 108,418 | ||||||
Rickenbacker
Port Authority Rev., 5.375%, 1/1/32 |
45,000 | 50,324 | ||||||
State
of Ohio GO, 5.00%, 8/1/24 |
30,000 | 30,447 | ||||||
State
of Ohio Rev., 5.00%, 12/15/23 |
55,000 | 55,248 | ||||||
2,157,893 | ||||||||
Oklahoma
— 0.6% |
||||||||
Cleveland
County Educational Facilities Authority Rev., (Cleveland County
Independent School District No. 2 Moore), 4.00%, 6/1/31 |
80,000 | 83,815 | ||||||
Grand
River Dam Authority Rev., 5.00%, 6/1/25 |
250,000 | 256,527 | ||||||
Oklahoma
Turnpike Authority Rev., 5.00%, 1/1/30 |
175,000 | 194,820 | ||||||
535,162 | ||||||||
Oregon
— 0.5% |
||||||||
Deschutes
Public Library District GO, 3.00%, 12/1/41 |
100,000 | 79,956 | ||||||
Multnomah
County School District No. 1 Portland GO, 5.00%, 6/15/24 (SCH BD
GTY) |
25,000 | 25,323 | ||||||
Oregon
State Lottery Rev., 5.00%, 4/1/27 |
175,000 | 179,559 | ||||||
State
of Oregon Department of Transportation Rev., 5.00%,
11/15/23 |
30,000 | 30,098 | ||||||
State
of Oregon Department of Transportation Rev., 5.00%, 11/15/24, Prerefunded
at 100% of Par(1) |
65,000 | 66,297 | ||||||
Washington
& Multnomah Counties School District No. 48J Beaverton GO, 5.00%,
6/15/24, Prerefunded at 100% of Par (SCH BD GTY)(1) |
35,000 | 35,439 | ||||||
416,672 | ||||||||
Pennsylvania
— 4.3% |
||||||||
Commonwealth
of Pennsylvania COP, 5.00%, 7/1/43 |
100,000 | 103,095 | ||||||
Delaware
Valley Regional Finance Authority Rev., 5.50%, 8/1/28
(Ambac) |
20,000 | 22,027 | ||||||
Delaware
Valley Regional Finance Authority Rev., 5.75%, 7/1/32 |
25,000 | 29,975 | ||||||
Montgomery
County Higher Education and Health Authority Rev., (Thomas Jefferson
University Obligated Group), 5.00%, 9/1/33 |
175,000 | 185,971 | ||||||
Montgomery
County Higher Education and Health Authority Rev., (Thomas Jefferson
University Obligated Group), 4.00%, 9/1/34 |
300,000 | 296,230 | ||||||
Northampton
County General Purpose Authority Rev., (Lafayette College), 5.00%,
11/1/34 |
100,000 | 105,556 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Pennsylvania
GO, 5.00%, 1/1/24 |
$ | 25,000 | $ | 25,132 | ||||
Pennsylvania
GO, 5.00%, 9/15/24 |
100,000 | 101,706 | ||||||
Pennsylvania
GO, 5.00%, 1/1/28 |
5,000 | 5,311 | ||||||
Pennsylvania
GO, 4.00%, 5/1/33 |
220,000 | 229,041 | ||||||
Pennsylvania
GO, 3.00%, 9/15/36 |
80,000 | 70,351 | ||||||
Pennsylvania
GO, 3.00%, 5/1/38 |
25,000 | 20,791 | ||||||
Pennsylvania
GO, 2.00%, 5/1/39 |
30,000 | 20,509 | ||||||
Pennsylvania
Higher Educational Facilities Authority Rev., (Trustees of the University
of Pennsylvania), 4.00%, 8/15/41 |
1,000,000 | 970,498 | ||||||
Pennsylvania
State Public School Building Authority Rev., (School District of
Philadelphia), 5.00%, 6/1/29 (AGM) |
30,000 | 32,933 | ||||||
Pennsylvania
Turnpike Commission Rev., 5.00%, 12/1/23 |
30,000 | 30,107 | ||||||
Pennsylvania
Turnpike Commission Rev., 5.00%, 12/1/40 |
1,025,000 | 1,044,854 | ||||||
Pennsylvania
Turnpike Commission Rev., 5.00%, 12/1/41 |
30,000 | 30,565 | ||||||
Philadelphia
GO, 4.00%, 8/1/35 |
20,000 | 20,086 | ||||||
Philadelphia
Authority for Industrial Development Rev., (Thomas Jefferson University
Obligated Group), 4.00%, 9/1/42 |
170,000 | 158,812 | ||||||
Philadelphia
Gas Works Co Rev., 5.00%, 8/1/50 (AGM) |
100,000 | 103,775 | ||||||
Philadelphia
Water & Wastewater Rev. Rev., 5.00%, 10/1/42 |
90,000 | 93,307 | ||||||
3,700,632 | ||||||||
Rhode
Island — 1.2% |
||||||||
Rhode
Island Health & Educational Building Corp. Rev., (Brown University),
4.00%, 9/1/37 |
1,000,000 | 1,003,405 | ||||||
South
Carolina — 1.0% |
||||||||
Charleston
Educational Excellence Finance Corp. Rev., (Charleston County School
District), 5.00%, 12/1/23, Prerefunded at 100% of Par(1) |
30,000 | 30,121 | ||||||
Charleston
Educational Excellence Finance Corp. Rev., (Charleston County School
District), 5.00%, 12/1/26 |
500,000 | 502,018 | ||||||
South
Carolina Public Service Authority Rev., 5.00%, 12/1/26 |
50,000 | 50,617 | ||||||
South
Carolina Public Service Authority Rev., 5.00%, 12/1/30 |
120,000 | 123,661 | ||||||
South
Carolina Public Service Authority Rev., 5.00%, 12/1/36 |
25,000 | 25,418 | ||||||
South
Carolina Public Service Authority Rev., 3.00%, 12/1/41 |
50,000 | 38,796 | ||||||
South
Carolina Public Service Authority Rev., 4.00%, 12/1/42 |
60,000 | 56,005 | ||||||
826,636 | ||||||||
Tennessee
— 0.1% |
||||||||
Metropolitan
Government of Nashville & Davidson County GO, 5.00%, 1/1/26
|
50,000 | 52,030 | ||||||
Texas
— 9.2% |
||||||||
Austin
GO, 2.95%, 9/1/27 |
25,000 | 24,514 | ||||||
Bexar
County GO, 4.00%, 6/15/41 |
75,000 | 73,059 | ||||||
Bexar
County GO, 5.00%, 6/15/42 |
400,000 | 415,446 | ||||||
Board
of Regents of the University of Texas System Rev., 5.00%,
8/15/24 |
30,000 | 30,458 | ||||||
Board
of Regents of the University of Texas System Rev., 5.00%,
8/15/24 |
35,000 | 35,534 | ||||||
Board
of Regents of the University of Texas System Rev., 5.00%,
8/15/25 |
50,000 | 51,633 | ||||||
Board
of Regents of the University of Texas System Rev., 5.00%,
8/15/26 |
25,000 | 26,291 | ||||||
Board
of Regents of the University of Texas System Rev., 5.00%,
8/15/38 |
445,000 | 474,329 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Board
of Regents of the University of Texas System Rev., 4.00%,
8/15/42 |
$ | 245,000 | $ | 240,921 | ||||
Central
Texas Regional Mobility Authority Rev., 3.375%, 1/1/41 |
35,000 | 29,366 | ||||||
Central
Texas Turnpike System Rev., 4.00%, 8/15/38 |
360,000 | 333,701 | ||||||
Central
Texas Turnpike System Rev., 5.00%, 8/15/39 |
90,000 | 94,529 | ||||||
Cypress-Fairbanks
Independent School District GO, 5.00%, 2/15/24 (PSF-GTD) |
80,000 | 80,592 | ||||||
Dallas
GO, 5.00%, 2/15/27 |
655,000 | 659,121 | ||||||
Dallas
Area Rapid Transit Rev., 5.00%, 12/1/29 |
35,000 | 38,725 | ||||||
Dallas
Area Rapid Transit Rev., 5.00%, 12/1/33 |
240,000 | 264,033 | ||||||
Dallas
Fort Worth International Airport Rev., 5.00%, 11/1/32 |
15,000 | 16,519 | ||||||
Dallas
Fort Worth International Airport Rev., 5.00%, 11/1/33 |
50,000 | 54,921 | ||||||
Dallas
Fort Worth International Airport Rev., 5.00%, 11/1/33 |
65,000 | 65,154 | ||||||
Dallas
Fort Worth International Airport Rev., 5.00%, 11/1/33 |
65,000 | 71,397 | ||||||
Dallas
Fort Worth International Airport Rev., 4.125%, 11/1/39 |
530,000 | 530,384 | ||||||
Dallas
Independent School District GO, 5.00%, 8/15/24 (PSF-GTD) |
35,000 | 35,567 | ||||||
Dallas
Independent School District GO, 5.00%, 8/15/24, Prerefunded at 100% of Par
(PSF-GTD)(1) |
40,000 | 40,591 | ||||||
Dallas
Waterworks & Sewer System Rev., 5.00%, 10/1/27 |
80,000 | 82,408 | ||||||
Dallas
Waterworks & Sewer System Rev., 5.00%, 10/1/31 |
190,000 | 198,816 | ||||||
El
Paso GO, 4.00%, 8/15/41 |
50,000 | 47,677 | ||||||
Houston
GO, 5.00%, 3/1/24 |
75,000 | 75,587 | ||||||
Houston
GO, 5.00%, 3/1/28 |
35,000 | 37,543 | ||||||
Houston
Independent School District GO, 5.00%, 2/15/27 (PSF-GTD) |
55,000 | 57,177 | ||||||
Lower
Colorado River Authority Rev., (LCRA Transmission Services Corp.), 5.00%,
5/15/40 |
285,000 | 289,034 | ||||||
North
Texas Tollway Authority Rev., 5.00%, 1/1/30 |
65,000 | 66,017 | ||||||
North
Texas Tollway Authority Rev., 5.00%, 1/1/30 |
65,000 | 67,495 | ||||||
North
Texas Tollway Authority Rev., 4.00%, 1/1/37 |
50,000 | 49,956 | ||||||
North
Texas Tollway Authority Rev., 4.00%, 1/1/38 |
35,000 | 33,215 | ||||||
North
Texas Tollway Authority Rev., 5.00%, 1/1/43 |
400,000 | 411,043 | ||||||
North
Texas Tollway Authority Rev., (North Texas Tollway System), 5.00%,
1/1/28 |
10,000 | 10,395 | ||||||
North
Texas Tollway Authority Rev., (North Texas Tollway System), 4.00%,
1/1/36 |
20,000 | 20,132 | ||||||
North
Texas Tollway Authority Rev., (North Texas Tollway System), 4.00%,
1/1/38 |
30,000 | 29,034 | ||||||
North
Texas Tollway Authority Rev., (North Texas Tollway System), 5.00%,
1/1/38 |
25,000 | 26,256 | ||||||
North
Texas Tollway Authority Rev., (North Texas Tollway System), Capital
Appreciation, 0.00%, 1/1/30 (AGC)(2) |
100,000 | 79,223 | ||||||
San
Antonio Electric & Gas Systems Rev., 5.00%, 2/1/26 |
75,000 | 77,997 | ||||||
San
Antonio Electric & Gas Systems Rev., 5.00%, 2/1/29 |
40,000 | 41,935 | ||||||
San
Antonio Public Facilities Corp. Rev., 4.00%, 9/15/42 |
750,000 | 691,556 | ||||||
State
of Texas GO, 4.00%, 4/1/24, Prerefunded at 100% of Par(1) |
50,000 | 50,181 | ||||||
State
of Texas GO, 5.00%, 4/1/24, Prerefunded at 100% of Par(1) |
60,000 | 60,555 | ||||||
State
of Texas GO, 5.00%, 10/1/24, Prerefunded at 100% of Par(1) |
50,000 | 50,816 | ||||||
State
of Texas GO, 5.00%, 10/1/28 |
40,000 | 41,326 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
State
of Texas GO, 5.00%, 10/1/30 |
$ | 55,000 | $ | 58,736 | ||||
State
of Texas GO, 5.00%, 10/1/33 |
100,000 | 106,495 | ||||||
Texas
A&M University Rev., 5.00%, 5/15/25 |
295,000 | 303,479 | ||||||
Texas
Transportation Commission State Highway Fund Rev., 5.00%,
4/1/24 |
5,000 | 5,047 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 5.00%, 10/15/29 |
45,000 | 46,671 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 4.00%, 10/15/34 |
105,000 | 105,327 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 4.00%, 4/15/38 |
220,000 | 217,541 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 4.00%, 10/15/38 |
400,000 | 399,782 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 5.00%, 10/15/38 |
285,000 | 302,874 | ||||||
Texas
Water Development Board Rev., (State Water Implementation Rev. Fund for
Texas), 5.00%, 10/15/40 |
75,000 | 76,720 | ||||||
Trinity
River Authority Central Regional Wastewater System Rev., 5.00%,
8/1/28 |
25,000 | 26,576 | ||||||
University
of Texas System Rev., 5.00%, 8/15/30 |
50,000 | 56,231 | ||||||
7,987,638 | ||||||||
Utah
— 1.3% |
||||||||
City
of Salt Lake City Airport Revenue Rev., 5.00%, 7/1/42 |
150,000 | 153,497 | ||||||
State
of Utah GO, 5.00%, 7/1/28 |
125,000 | 137,005 | ||||||
State
of Utah GO, 5.00%, 7/1/29 |
40,000 | 44,149 | ||||||
Utah
Transit Authority Rev., 5.00%, 6/15/25, Prerefunded at 100% of
Par(1) |
30,000 | 30,921 | ||||||
Utah
Transit Authority Rev., 5.00%, 6/15/25 |
110,000 | 112,940 | ||||||
Utah
Transit Authority Rev., 5.00%, 6/15/25, Prerefunded at 100% of
Par(1) |
600,000 | 618,416 | ||||||
Utah
Transit Authority Rev., 5.25%, 6/15/32 (AGM) |
40,000 | 45,871 | ||||||
1,142,799 | ||||||||
Virginia
— 1.1% |
||||||||
Richmond
Public Utility Rev., 5.00%, 1/15/28 |
25,000 | 25,925 | ||||||
University
of Virginia Rev., 5.00%, 4/1/38 |
25,000 | 26,320 | ||||||
Virginia
College Building Authority Rev., 5.00%, 2/1/30 |
75,000 | 81,147 | ||||||
Virginia
College Building Authority Rev., 5.00%, 2/1/31 |
70,000 | 73,631 | ||||||
Virginia
College Building Authority Rev., 3.00%, 2/1/35 |
80,000 | 72,975 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 5/15/24 |
50,000 | 50,583 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 3/15/25 |
25,000 | 25,665 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 9/15/26 |
50,000 | 52,802 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 9/15/27 |
60,000 | 64,613 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 5/15/32 |
10,000 | 10,724 | ||||||
Virginia
Commonwealth Transportation Board Rev., 5.00%, 5/15/33 |
50,000 | 53,543 | ||||||
Virginia
Public Building Authority Rev., 5.00%, 8/1/27 |
100,000 | 107,344 | ||||||
Virginia
Small Business Financing Authority Rev., (Hampton University), 4.00%,
10/1/38 |
360,000 | 346,982 | ||||||
992,254 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
Washington
— 4.8% |
||||||||
Central
Puget Sound Regional Transit Authority Rev., 5.00%, 11/1/25, Prerefunded
at 100% of Par(1) |
$ | 50,000 | $ | 51,843 | ||||
Central
Puget Sound Regional Transit Authority Rev., (Central Puget Sound Regional
Transit Auth Sales Motor Vehicle & Rental Car Tax), 5.00%,
11/1/36 |
50,000 | 55,723 | ||||||
Central
Puget Sound Regional Transit Authority Rev., (Central Puget Sound Regional
Transit Auth Sales Motor Vehicle & Rental Car Tax), 4.00%,
11/1/40 |
150,000 | 147,290 | ||||||
Central
Puget Sound Regional Transit Authority Rev., (Sales Motor Vehicle &
Rental Car Tax), 5.00%, 11/1/26 |
50,000 | 52,904 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/25 |
25,000 | 25,771 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/27 |
25,000 | 25,315 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/27 |
65,000 | 69,582 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/28 |
20,000 | 21,361 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/30 |
25,000 | 27,152 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/31 |
15,000 | 15,180 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/32 |
50,000 | 51,342 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/33 |
25,000 | 25,667 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/35 |
50,000 | 55,505 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 5.00%,
7/1/36 |
65,000 | 72,955 | ||||||
Energy
Northwest Rev., (Bonneville Power Administration), 4.00%,
7/1/42 |
985,000 | 964,548 | ||||||
King
County Sewer Rev., 4.00%, 7/1/31 |
125,000 | 126,974 | ||||||
Seattle
Municipal Light & Power Rev., 4.00%, 7/1/41 |
640,000 | 627,176 | ||||||
Snohomish
County Public Utility District No. 1 Electric System Rev. Rev., 5.00%,
12/1/40 |
200,000 | 205,006 | ||||||
State
of Washington GO, 5.00%, 8/1/24 |
300,000 | 304,627 | ||||||
State
of Washington GO, 4.00%, 7/1/26 |
50,000 | 50,180 | ||||||
State
of Washington GO, 5.00%, 8/1/28 |
50,000 | 52,489 | ||||||
State
of Washington GO, 5.00%, 7/1/29 |
250,000 | 259,791 | ||||||
State
of Washington GO, 5.00%, 8/1/31 |
25,000 | 26,732 | ||||||
State
of Washington GO, 5.00%, 8/1/32 |
40,000 | 41,077 | ||||||
State
of Washington GO, 5.00%, 8/1/32 |
255,000 | 272,183 | ||||||
State
of Washington GO, 5.00%, 8/1/34 |
145,000 | 148,770 | ||||||
State
of Washington GO, 5.00%, 8/1/36 |
55,000 | 57,056 | ||||||
State
of Washington GO, 5.00%, 2/1/40 |
40,000 | 42,822 | ||||||
State
of Washington GO, 5.00%, 8/1/40 |
265,000 | 282,483 | ||||||
State
of Washington GO, 5.00%, 2/1/41 |
25,000 | 26,692 | ||||||
University
of Washington Rev., 4.00%, 6/1/37 |
10,000 | 9,937 | ||||||
4,196,133 | ||||||||
West
Virginia — 0.2% |
||||||||
State
of West Virginia GO, 5.00%, 12/1/41 |
70,000 | 73,294 |
Avantis Core Municipal Fixed Income ETF | ||||||||
Principal Amount/Shares |
Value | |||||||
State
of West Virginia GO, 4.00%, 12/1/42 |
$ | 100,000 | $ | 96,651 | ||||
169,945 | ||||||||
TOTAL
MUNICIPAL SECURITIES
(Cost
$88,645,879) |
85,691,706 | |||||||
SHORT-TERM
INVESTMENTS — 0.7% |
||||||||
Money
Market Funds — 0.7% |
||||||||
Morgan
Stanley Institutional Liquidity Funds Tax-Exempt Portfolio, Institutional
Class
(Cost
$593,470) |
593,530 | 593,471 | ||||||
TOTAL
INVESTMENT SECURITIES — 99.5%
(Cost
$89,239,349) |
86,285,177 | |||||||
OTHER
ASSETS AND LIABILITIES — 0.5% |
460,332 | |||||||
TOTAL
NET ASSETS — 100.0% |
$ | 86,745,509 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AGC | – | Assured Guaranty Corporation | ||||||
AGM | – | Assured Guaranty Municipal Corporation | ||||||
BAM | – | Build America Mutual Assurance Company | ||||||
COP | – | Certificates of Participation | ||||||
GO | – | General Obligation | ||||||
NATL | – | National Public Finance Guarantee Corporation | ||||||
PSF-GTD | – | Permanent School Fund Guaranteed | ||||||
SCH BD GTY | – | School Bond Guaranty |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
CORPORATE
BONDS — 66.5% |
||||||||
Aerospace
and Defense — 0.6% |
||||||||
General
Dynamics Corp., 3.50%, 5/15/25 |
$ | 856,000 | $ | 831,376 | ||||
Huntington
Ingalls Industries, Inc., 3.84%, 5/1/25 |
780,000 | 755,283 | ||||||
1,586,659 | ||||||||
Air
Freight and Logistics — 0.9% |
||||||||
United
Parcel Service, Inc., 3.90%, 4/1/25 |
1,415,000 | 1,386,746 | ||||||
United
Parcel Service, Inc., 3.05%, 11/15/27 |
840,000 | 787,253 | ||||||
2,173,999 | ||||||||
Automobiles
— 1.8% |
||||||||
American
Honda Finance Corp., 2.15%, 9/10/24 |
617,000 | 595,924 | ||||||
American
Honda Finance Corp., 1.00%, 9/10/25 |
1,066,000 | 977,605 | ||||||
American
Honda Finance Corp., 4.70%, 1/12/28 |
465,000 | 459,366 | ||||||
General
Motors Co., 6.80%, 10/1/27 |
11,000 | 11,348 | ||||||
General
Motors Financial Co., Inc., 4.00%, 1/15/25 |
900,000 | 875,402 | ||||||
General
Motors Financial Co., Inc., 2.70%, 8/20/27 |
500,000 | 445,167 | ||||||
Toyota
Motor Corp., 5.12%, 7/13/28 |
1,000,000 | 1,010,076 | ||||||
4,374,888 | ||||||||
Banks
— 12.8% |
||||||||
African
Development Bank, 3.00%, 9/20/23 |
306,000 | 305,697 | ||||||
African
Development Bank, 0.875%, 7/22/26 |
500,000 | 448,927 | ||||||
African
Development Bank, 4.375%, 3/14/28 |
425,000 | 423,965 | ||||||
Asian
Development Bank, 0.25%, 10/6/23 |
439,000 | 437,109 | ||||||
Asian
Development Bank, 2.625%, 1/30/24 |
355,000 | 350,904 | ||||||
Asian
Development Bank, 0.375%, 6/11/24 |
100,000 | 96,184 | ||||||
Asian
Infrastructure Investment Bank, 0.25%, 9/29/23 |
434,000 | 432,526 | ||||||
Asian
Infrastructure Investment Bank, 2.25%, 5/16/24 |
165,000 | 161,118 | ||||||
Asian
Infrastructure Investment Bank, 0.50%, 10/30/24 |
1,154,000 | 1,090,154 | ||||||
Asian
Infrastructure Investment Bank, 3.75%, 9/14/27(1) |
1,350,000 | 1,309,471 | ||||||
Asian
Infrastructure Investment Bank, 4.00%, 1/18/28 |
304,000 | 297,148 | ||||||
Australia
& New Zealand Banking Group Ltd., 3.70%, 11/16/25 |
400,000 | 387,220 | ||||||
Bank
of Montreal, 1.25%, 9/15/26 |
1,250,000 | 1,108,702 | ||||||
Bank
of Nova Scotia, 2.70%, 8/3/26 |
909,000 | 844,589 | ||||||
Barclays
PLC, 3.65%, 3/16/25 |
1,050,000 | 1,013,397 | ||||||
Citigroup,
Inc., 3.30%, 4/27/25 |
1,188,000 | 1,148,217 | ||||||
Commonwealth
Bank of Australia, 5.08%, 1/10/25 |
825,000 | 822,776 | ||||||
Cooperatieve
Rabobank UA, 3.375%, 5/21/25 |
1,500,000 | 1,448,862 | ||||||
Council
Of Europe Development Bank, 1.375%, 2/27/25 |
214,000 | 202,515 | ||||||
Discover
Bank, 2.45%, 9/12/24 |
800,000 | 767,468 | ||||||
European
Bank for Reconstruction & Development, 0.50%, 5/19/25 |
500,000 | 462,903 | ||||||
European
Investment Bank, 1.375%, 3/15/27(1) |
230,000 | 206,703 | ||||||
Export
Development Canada, 2.625%, 2/21/24 |
100,000 | 98,657 | ||||||
Export
Development Canada, 3.375%, 8/26/25 |
100,000 | 97,146 | ||||||
Export
Development Canada, 3.875%, 2/14/28 |
300,000 | 293,317 | ||||||
HSBC
Holdings PLC, 3.90%, 5/25/26 |
300,000 | 285,819 | ||||||
Inter-American
Development Bank, 0.25%, 11/15/23 |
182,000 | 180,183 | ||||||
International
Bank for Reconstruction & Development, 2.50%, 3/19/24 |
350,000 | 344,305 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
International
Bank for Reconstruction & Development, 1.50%, 8/28/24 |
$ | 1,175,000 | $ | 1,131,696 | ||||
International
Bank for Reconstruction & Development, 0.875%, 7/15/26 |
190,000 | 171,101 | ||||||
JPMorgan
Chase & Co., 3.90%, 7/15/25 |
1,488,000 | 1,446,787 | ||||||
Kreditanstalt
fuer Wiederaufbau, 0.25%, 3/8/24 |
525,000 | 511,387 | ||||||
Landwirtschaftliche
Rentenbank, 0.50%, 5/27/25 |
368,000 | 340,248 | ||||||
Mizuho
Financial Group, Inc., 3.66%, 2/28/27 |
1,000,000 | 942,586 | ||||||
National
Australia Bank Ltd., 2.50%, 7/12/26 |
1,550,000 | 1,441,166 | ||||||
National
Australia Bank Ltd., 4.94%, 1/12/28 |
775,000 | 769,822 | ||||||
Oesterreichische
Kontrollbank AG, 1.50%, 2/12/25 |
1,005,000 | 952,779 | ||||||
PNC
Bank NA, 2.50%, 8/27/24 |
1,100,000 | 1,063,135 | ||||||
PNC
Bank NA, 2.95%, 2/23/25 |
450,000 | 432,007 | ||||||
Royal
Bank of Canada, 6.00%, 11/1/27 |
800,000 | 819,518 | ||||||
Santander
Holdings USA, Inc., 4.50%, 7/17/25 |
834,000 | 814,494 | ||||||
Toronto-Dominion
Bank, 4.11%, 6/8/27 |
1,300,000 | 1,242,655 | ||||||
US
Bancorp, 3.95%, 11/17/25 |
1,000,000 | 969,617 | ||||||
Wells
Fargo & Co., 3.00%, 10/23/26 |
1,400,000 | 1,297,193 | ||||||
Westpac
Banking Corp., 2.85%, 5/13/26 |
1,850,000 | 1,745,496 | ||||||
Westpac
Banking Corp., 5.46%, 11/18/27 |
560,000 | 568,711 | ||||||
31,726,380 | ||||||||
Beverages
— 0.6% |
||||||||
Constellation
Brands, Inc., 4.40%, 11/15/25 |
715,000 | 700,127 | ||||||
Diageo
Capital PLC, 5.30%, 10/24/27 |
800,000 | 809,689 | ||||||
1,509,816 | ||||||||
Biotechnology
— 0.2% |
||||||||
AbbVie,
Inc., 3.20%, 5/14/26 |
610,000 | 580,051 | ||||||
Broadline
Retail — 0.9% |
||||||||
Amazon.com,
Inc., 5.20%, 12/3/25 |
225,000 | 225,800 | ||||||
Amazon.com,
Inc., 3.15%, 8/22/27 |
1,500,000 | 1,411,488 | ||||||
Amazon.com,
Inc., 1.65%, 5/12/28 |
800,000 | 699,657 | ||||||
2,336,945 | ||||||||
Capital
Markets — 2.9% |
||||||||
Bank
of New York Mellon Corp., 1.60%, 4/24/25 |
1,250,000 | 1,175,213 | ||||||
Charles
Schwab Corp., 3.75%, 4/1/24 |
100,000 | 98,685 | ||||||
Charles
Schwab Corp., 3.85%, 5/21/25 |
463,000 | 449,271 | ||||||
CME
Group, Inc., 3.00%, 3/15/25 |
2,213,000 | 2,137,779 | ||||||
Goldman
Sachs Group, Inc., 3.85%, 1/26/27 |
1,115,000 | 1,058,676 | ||||||
Jefferies
Financial Group, Inc., 4.85%, 1/15/27 |
200,000 | 194,553 | ||||||
Lazard
Group LLC, 3.75%, 2/13/25 |
667,000 | 644,769 | ||||||
State
Street Corp., 3.55%, 8/18/25 |
1,369,000 | 1,322,458 | ||||||
7,081,404 | ||||||||
Chemicals
— 0.2% |
||||||||
Linde,
Inc., 2.65%, 2/5/25 |
463,000 | 445,214 | ||||||
Construction
Materials — 0.5% |
||||||||
Vulcan
Materials Co., 5.80%, 3/1/26 |
1,250,000 | 1,252,218 | ||||||
Consumer
Staples Distribution & Retail — 2.3% |
||||||||
Costco
Wholesale Corp., 2.75%, 5/18/24 |
1,500,000 | 1,469,727 | ||||||
Dollar
Tree, Inc., 4.00%, 5/15/25 |
1,293,000 | 1,255,147 | ||||||
Target
Corp., 2.25%, 4/15/25 |
1,820,000 | 1,738,400 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Walmart,
Inc., 3.30%, 4/22/24 |
$ | 565,000 | $ | 557,230 | ||||
Walmart,
Inc., 2.85%, 7/8/24 |
800,000 | 782,732 | ||||||
5,803,236 | ||||||||
Containers
and Packaging — 0.4% |
||||||||
Amcor
Flexibles North America, Inc., 4.00%, 5/17/25 |
96,000 | 93,131 | ||||||
Packaging
Corp. of America, 3.65%, 9/15/24 |
800,000 | 783,094 | ||||||
876,225 | ||||||||
Diversified
Consumer Services — 0.1% |
||||||||
Yale
University, 0.87%, 4/15/25 |
300,000 | 280,396 | ||||||
Diversified
REITs — 1.3% |
||||||||
ERP
Operating LP, 3.375%, 6/1/25 |
513,000 | 495,226 | ||||||
Host
Hotels & Resorts LP, 3.875%, 4/1/24 |
850,000 | 839,697 | ||||||
Spirit
Realty LP, 4.45%, 9/15/26 |
322,000 | 307,141 | ||||||
Ventas
Realty LP, 3.85%, 4/1/27 |
700,000 | 656,606 | ||||||
WP
Carey, Inc., 4.00%, 2/1/25 |
913,000 | 889,456 | ||||||
3,188,126 | ||||||||
Diversified
Telecommunication Services — 0.1% |
||||||||
AT&T,
Inc., 4.10%, 2/15/28 |
165,000 | 156,683 | ||||||
Electric
Utilities — 3.5% |
||||||||
Berkshire
Hathaway Energy Co., 4.05%, 4/15/25 |
1,888,000 | 1,848,464 | ||||||
Berkshire
Hathaway Energy Co., 3.25%, 4/15/28 |
1,350,000 | 1,243,172 | ||||||
Black
Hills Corp., 3.15%, 1/15/27 |
242,000 | 224,710 | ||||||
Cleco
Corporate Holdings LLC, 3.74%, 5/1/26 |
242,000 | 227,434 | ||||||
DTE
Electric Co., Series A, 1.90%, 4/1/28 |
600,000 | 527,038 | ||||||
Edison
International, 4.70%, 8/15/25 |
1,050,000 | 1,027,680 | ||||||
Edison
International, 4.125%, 3/15/28 |
750,000 | 702,107 | ||||||
Entergy
Louisiana LLC, 2.40%, 10/1/26 |
450,000 | 412,872 | ||||||
Florida
Power & Light Co., 5.05%, 4/1/28 |
400,000 | 402,089 | ||||||
NextEra
Energy Capital Holdings, Inc., 1.875%, 1/15/27 |
66,000 | 59,029 | ||||||
Pacific
Gas & Electric Co., 5.45%, 6/15/27 |
1,000,000 | 978,505 | ||||||
Public
Service Electric & Gas Co., 2.25%, 9/15/26 |
100,000 | 92,376 | ||||||
Sierra
Pacific Power Co., 2.60%, 5/1/26 |
675,000 | 629,618 | ||||||
Southwestern
Electric Power Co., 1.65%, 3/15/26 |
414,000 | 376,851 | ||||||
8,751,945 | ||||||||
Electronic
Equipment, Instruments and Components — 0.8% |
||||||||
Avnet,
Inc., 4.625%, 4/15/26 |
285,000 | 276,210 | ||||||
Flex
Ltd., 3.75%, 2/1/26 |
293,000 | 280,054 | ||||||
Jabil,
Inc., 1.70%, 4/15/26 |
705,000 | 636,608 | ||||||
Keysight
Technologies, Inc., 4.55%, 10/30/24 |
848,000 | 834,487 | ||||||
2,027,359 | ||||||||
Financial
Services — 0.4% |
||||||||
National
Rural Utilities Cooperative Finance Corp., 3.40%, 2/7/28 |
1,040,000 | 969,930 | ||||||
Voya
Financial, Inc., 3.65%, 6/15/26 |
15,000 | 14,175 | ||||||
984,105 | ||||||||
Food
Products — 0.5% |
||||||||
Bunge
Ltd. Finance Corp., 1.63%, 8/17/25 |
1,059,000 | 981,231 | ||||||
Hershey
Co., 2.05%, 11/15/24 |
273,000 | 262,833 | ||||||
1,244,064 | ||||||||
Gas
Utilities — 0.6% |
||||||||
Southern
California Gas Co., 3.15%, 9/15/24 |
1,450,000 | 1,413,891 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Ground
Transportation — 1.2% |
||||||||
Canadian
National Railway Co., 2.75%, 3/1/26 |
$ | 1,975,000 | $ | 1,866,765 | ||||
Ryder
System, Inc., 2.50%, 9/1/24 |
598,000 | 578,238 | ||||||
Ryder
System, Inc., 3.35%, 9/1/25 |
624,000 | 597,537 | ||||||
3,042,540 | ||||||||
Health
Care Equipment and Supplies — 0.5% |
||||||||
Baxter
International, Inc., 2.60%, 8/15/26 |
9,000 | 8,313 | ||||||
Medtronic
Global Holdings SCA, 4.25%, 3/30/28 |
1,200,000 | 1,167,841 | ||||||
1,176,154 | ||||||||
Health
Care Providers and Services — 3.4% |
||||||||
Aetna,
Inc., 3.50%, 11/15/24 |
1,140,000 | 1,110,450 | ||||||
Cardinal
Health, Inc., 3.50%, 11/15/24 |
1,187,000 | 1,153,778 | ||||||
CVS
Health Corp., 2.875%, 6/1/26 |
70,000 | 65,597 | ||||||
HCA,
Inc., 5.25%, 6/15/26 |
270,000 | 266,768 | ||||||
HCA,
Inc., 4.50%, 2/15/27 |
1,100,000 | 1,063,981 | ||||||
Humana,
Inc., 5.70%, 3/13/26 |
1,350,000 | 1,350,291 | ||||||
Laboratory
Corp. of America Holdings, 3.60%, 2/1/25 |
1,200,000 | 1,164,689 | ||||||
Quest
Diagnostics, Inc., 3.45%, 6/1/26 |
627,000 | 598,575 | ||||||
UnitedHealth
Group, Inc., 3.50%, 2/15/24 |
1,600,000 | 1,586,729 | ||||||
8,360,858 | ||||||||
Hotels,
Restaurants and Leisure — 1.6% |
||||||||
Booking
Holdings, Inc., 3.65%, 3/15/25 |
425,000 | 414,421 | ||||||
Booking
Holdings, Inc., 3.60%, 6/1/26 |
1,350,000 | 1,299,415 | ||||||
Expedia
Group, Inc., 4.625%, 8/1/27 |
1,443,000 | 1,400,592 | ||||||
Hyatt
Hotels Corp., 4.85%, 3/15/26 |
515,000 | 505,087 | ||||||
Starbucks
Corp., 3.80%, 8/15/25 |
393,000 | 382,386 | ||||||
4,001,901 | ||||||||
Household
Durables — 1.1% |
||||||||
Lennar
Corp., 4.75%, 5/30/25 |
750,000 | 736,837 | ||||||
Lennar
Corp., 5.25%, 6/1/26 |
600,000 | 597,193 | ||||||
PulteGroup,
Inc., 5.00%, 1/15/27(1) |
1,450,000 | 1,429,242 | ||||||
2,763,272 | ||||||||
Industrial
Conglomerates — 0.6% |
||||||||
3M
Co., 2.65%, 4/15/25 |
1,600,000 | 1,527,447 | ||||||
Insurance
— 1.0% |
||||||||
Allstate
Corp., 0.75%, 12/15/25 |
1,250,000 | 1,128,950 | ||||||
Chubb
INA Holdings, Inc., 3.35%, 5/15/24 |
1,350,000 | 1,327,801 | ||||||
2,456,751 | ||||||||
Interactive
Media and Services — 0.7% |
||||||||
Meta
Platforms, Inc., 3.50%, 8/15/27 |
1,650,000 | 1,573,333 | ||||||
Meta
Platforms, Inc., 4.60%, 5/15/28 |
250,000 | 247,949 | ||||||
1,821,282 | ||||||||
IT
Services — 1.4% |
||||||||
International
Business Machines Corp., 3.625%, 2/12/24 |
650,000 | 644,020 | ||||||
International
Business Machines Corp., 7.00%, 10/30/25 |
500,000 | 517,666 | ||||||
International
Business Machines Corp., 4.50%, 2/6/28 |
750,000 | 735,126 | ||||||
VeriSign,
Inc., 5.25%, 4/1/25 |
1,650,000 | 1,638,729 | ||||||
3,535,541 | ||||||||
Machinery
— 1.0% |
||||||||
Caterpillar
Financial Services Corp., 1.45%, 5/15/25 |
873,000 | 819,122 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Cummins,
Inc., 0.75%, 9/1/25 |
$ | 900,000 | $ | 824,467 | ||||
John
Deere Capital Corp., 4.95%, 7/14/28 |
360,000 | 361,443 | ||||||
PACCAR
Financial Corp., 4.95%, 8/10/28 |
340,000 | 341,751 | ||||||
2,346,783 | ||||||||
Media
— 1.1% |
||||||||
Comcast
Corp., 3.375%, 8/15/25 |
1,906,000 | 1,842,147 | ||||||
Discovery
Communications LLC, 4.90%, 3/11/26 |
795,000 | 781,578 | ||||||
2,623,725 | ||||||||
Metals
and Mining — 1.0% |
||||||||
ArcelorMittal
SA, 4.55%, 3/11/26 |
330,000 | 323,414 | ||||||
BHP
Billiton Finance USA Ltd., 6.42%, 3/1/26 |
450,000 | 462,470 | ||||||
BHP
Billiton Finance USA Ltd., 4.75%, 2/28/28 |
1,750,000 | 1,735,589 | ||||||
2,521,473 | ||||||||
Multi-Utilities
— 0.4% |
||||||||
Consumers
Energy Co., 4.65%, 3/1/28 |
1,050,000 | 1,040,443 | ||||||
Sempra,
3.25%, 6/15/27 |
64,000 | 59,200 | ||||||
1,099,643 | ||||||||
Oil,
Gas and Consumable Fuels — 6.4% |
||||||||
Boardwalk
Pipelines LP, 4.45%, 7/15/27 |
900,000 | 858,664 | ||||||
BP
Capital Markets America, Inc., 3.02%, 1/16/27 |
1,075,000 | 1,009,093 | ||||||
BP
Capital Markets America, Inc., 3.59%, 4/14/27 |
1,100,000 | 1,050,012 | ||||||
Cheniere
Corpus Christi Holdings LLC, 5.125%, 6/30/27 |
1,150,000 | 1,138,173 | ||||||
Chevron
Corp., 2.90%, 3/3/24 |
66,000 | 65,126 | ||||||
Continental
Resources, Inc., 4.375%, 1/15/28 |
500,000 | 471,074 | ||||||
Coterra
Energy, Inc., 3.90%, 5/15/27 |
75,000 | 71,353 | ||||||
Enbridge,
Inc., 4.25%, 12/1/26 |
300,000 | 289,730 | ||||||
Energy
Transfer LP, 4.75%, 1/15/26 |
888,000 | 869,918 | ||||||
Energy
Transfer LP, 5.50%, 6/1/27 |
400,000 | 397,897 | ||||||
Energy
Transfer LP, 5.55%, 2/15/28 |
800,000 | 797,912 | ||||||
Enterprise
Products Operating LLC, 3.90%, 2/15/24 |
285,000 | 282,555 | ||||||
Equinor
ASA, 3.70%, 3/1/24 |
841,000 | 833,771 | ||||||
Equinor
ASA, 7.25%, 9/23/27 |
483,000 | 524,122 | ||||||
Exxon
Mobil Corp., 2.99%, 3/19/25 |
1,000,000 | 968,597 | ||||||
Kinder
Morgan, Inc., 4.30%, 3/1/28 |
495,000 | 472,180 | ||||||
Marathon
Oil Corp., 4.40%, 7/15/27 |
1,244,000 | 1,186,313 | ||||||
Phillips
66, 3.85%, 4/9/25 |
480,000 | 467,336 | ||||||
Plains
All American Pipeline LP / PAA Finance Corp., 4.50%, 12/15/26(1) |
820,000 | 793,344 | ||||||
Targa
Resources Corp., 5.20%, 7/1/27 |
1,100,000 | 1,089,562 | ||||||
TotalEnergies
Capital International SA, 2.43%, 1/10/25 |
875,000 | 841,847 | ||||||
Williams
Cos., Inc., 4.00%, 9/15/25 |
1,338,000 | 1,296,380 | ||||||
15,774,959 | ||||||||
Personal
Care Products — 0.9% |
||||||||
Estee
Lauder Cos., Inc., 2.00%, 12/1/24 |
98,000 | 94,075 | ||||||
Kenvue,
Inc., 5.50%, 3/22/25(2) |
1,900,000 | 1,907,722 | ||||||
Kenvue,
Inc., 5.05%, 3/22/28(2) |
145,000 | 145,475 | ||||||
2,147,272 | ||||||||
Pharmaceuticals
— 2.9% |
||||||||
Astrazeneca
Finance LLC, 0.70%, 5/28/24 |
650,000 | 627,747 | ||||||
Astrazeneca
Finance LLC, 1.20%, 5/28/26 |
499,000 | 450,599 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Bristol-Myers
Squibb Co., 2.90%, 7/26/24 |
$ | 431,000 | $ | 421,339 | ||||
Bristol-Myers
Squibb Co., 3.45%, 11/15/27 |
1,000,000 | 951,939 | ||||||
GlaxoSmithKline
Capital PLC, 3.00%, 6/1/24 |
537,000 | 527,235 | ||||||
Novartis
Capital Corp., 1.75%, 2/14/25 |
1,563,000 | 1,488,572 | ||||||
Pfizer
Investment Enterprises Pte. Ltd., 4.45%, 5/19/28 |
350,000 | 343,543 | ||||||
Pfizer,
Inc., 2.95%, 3/15/24 |
1,205,000 | 1,189,272 | ||||||
Royalty
Pharma PLC, 1.20%, 9/2/25 |
1,270,000 | 1,157,384 | ||||||
7,157,630 | ||||||||
Real
Estate Management and Development — 0.2% |
||||||||
CBRE
Services, Inc., 4.875%, 3/1/26 |
409,000 | 400,262 | ||||||
Residential
REITs — 0.6% |
||||||||
AvalonBay
Communities, Inc., 2.95%, 5/11/26 |
775,000 | 730,773 | ||||||
UDR,
Inc., 3.50%, 7/1/27 |
800,000 | 746,469 | ||||||
1,477,242 | ||||||||
Retail
REITs — 1.4% |
||||||||
Federal
Realty Investment Trust, 3.25%, 7/15/27 |
750,000 | 690,933 | ||||||
Kimco
Realty OP LLC, 3.30%, 2/1/25 |
1,088,000 | 1,048,645 | ||||||
NNN
REIT, Inc., 3.50%, 10/15/27 |
500,000 | 460,046 | ||||||
Realty
Income Corp., 3.875%, 4/15/25 |
1,300,000 | 1,266,461 | ||||||
3,466,085 | ||||||||
Semiconductors
and Semiconductor Equipment — 2.8% |
||||||||
Broadcom
Corp. / Broadcom Cayman Finance Ltd., 3.875%, 1/15/27 |
1,375,000 | 1,306,847 | ||||||
Intel
Corp., 3.40%, 3/25/25 |
1,000,000 | 971,555 | ||||||
Intel
Corp., 4.875%, 2/10/28 |
1,150,000 | 1,143,653 | ||||||
Lam
Research Corp., 3.80%, 3/15/25 |
650,000 | 634,743 | ||||||
Marvell
Technology, Inc., 1.65%, 4/15/26 |
380,000 | 345,193 | ||||||
Micron
Technology, Inc., 4.98%, 2/6/26 |
795,000 | 783,529 | ||||||
Micron
Technology, Inc., 4.19%, 2/15/27 |
900,000 | 858,278 | ||||||
Xilinx,
Inc., 2.95%, 6/1/24 |
950,000 | 931,443 | ||||||
6,975,241 | ||||||||
Software
— 0.2% |
||||||||
Oracle
Corp., 2.50%, 4/1/25 |
500,000 | 476,333 | ||||||
Specialized
REITs — 1.1% |
||||||||
American
Tower Corp., 3.65%, 3/15/27 |
825,000 | 775,076 | ||||||
American
Tower Corp., 3.55%, 7/15/27 |
750,000 | 696,029 | ||||||
Crown
Castle, Inc., 4.45%, 2/15/26 |
1,175,000 | 1,145,253 | ||||||
Crown
Castle, Inc., 3.70%, 6/15/26 |
92,000 | 87,628 | ||||||
2,703,986 | ||||||||
Specialty
Retail — 1.0% |
||||||||
AutoNation,
Inc., 3.50%, 11/15/24 |
800,000 | 775,278 | ||||||
AutoZone,
Inc., 3.75%, 6/1/27 |
388,000 | 369,240 | ||||||
Ross
Stores, Inc., 4.60%, 4/15/25 |
1,338,000 | 1,315,506 | ||||||
2,460,024 | ||||||||
Technology
Hardware, Storage and Peripherals — 1.7% |
||||||||
Apple,
Inc., 3.00%, 2/9/24 |
147,000 | 145,409 | ||||||
Apple,
Inc., 3.45%, 5/6/24 |
1,750,000 | 1,727,521 | ||||||
Dell
International LLC / EMC Corp., 6.02%, 6/15/26 |
656,000 | 663,080 | ||||||
Dell
International LLC / EMC Corp., 4.90%, 10/1/26 |
225,000 | 221,038 | ||||||
Hewlett
Packard Enterprise Co., 4.90%, 10/15/25 |
1,529,000 | 1,509,466 | ||||||
4,266,514 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Textiles,
Apparel and Luxury Goods — 0.5% |
||||||||
Ralph
Lauren Corp., 3.75%, 9/15/25 |
$ | 1,320,000 | $ | 1,278,934 | ||||
Trading
Companies and Distributors — 0.4% |
||||||||
Air
Lease Corp., 3.25%, 3/1/25 |
850,000 | 814,072 | ||||||
Air
Lease Corp., 2.875%, 1/15/26 |
50,000 | 46,770 | ||||||
860,842 | ||||||||
TOTAL
CORPORATE BONDS
(Cost
$167,102,082) |
164,516,298 | |||||||
U.S.
TREASURY SECURITIES AND EQUIVALENTS — 30.0% |
||||||||
Israel
Government AID Bond, 5.50%, 9/18/23 |
32,000 | 32,000 | ||||||
U.S.
Treasury Notes, 0.125%, 10/15/23 |
3,500,000 | 3,477,599 | ||||||
U.S.
Treasury Notes, 0.50%, 11/30/23 |
3,150,000 | 3,112,632 | ||||||
U.S.
Treasury Notes, 0.875%, 1/31/24 |
3,100,000 | 3,042,905 | ||||||
U.S.
Treasury Notes, 0.125%, 2/15/24 |
1,965,000 | 1,918,758 | ||||||
U.S.
Treasury Notes, 1.50%, 2/29/24 |
3,350,000 | 3,286,220 | ||||||
U.S.
Treasury Notes, 0.375%, 4/15/24 |
2,450,000 | 2,374,370 | ||||||
U.S.
Treasury Notes, 0.25%, 6/15/24 |
2,025,000 | 1,945,340 | ||||||
U.S.
Treasury Notes, 0.375%, 7/15/24 |
2,125,000 | 2,034,857 | ||||||
U.S.
Treasury Notes, 2.375%, 8/15/24 |
2,100,000 | 2,040,786 | ||||||
U.S.
Treasury Notes, 2.125%, 9/30/24 |
2,500,000 | 2,415,946 | ||||||
U.S.
Treasury Notes, 4.25%, 9/30/24 |
3,000,000 | 2,966,521 | ||||||
U.S.
Treasury Notes, 1.50%, 10/31/24 |
2,150,000 | 2,059,549 | ||||||
U.S.
Treasury Notes, 1.50%, 11/30/24(4)
) |
2,220,000 | 2,120,880 | ||||||
U.S.
Treasury Notes, 1.125%, 1/15/25 |
2,000,000 | 1,894,141 | ||||||
U.S.
Treasury Notes, 1.50%, 2/15/25 |
2,000,000 | 1,899,141 | ||||||
U.S.
Treasury Notes, 2.75%, 2/28/25 |
2,000,000 | 1,932,891 | ||||||
U.S.
Treasury Notes, 0.25%, 10/31/25 |
2,600,000 | 2,360,820 | ||||||
U.S.
Treasury Notes, 0.375%, 9/30/27 |
4,200,000 | 3,580,828 | ||||||
U.S.
Treasury Notes, 0.625%, 11/30/27 |
4,985,000 | 4,272,690 | ||||||
U.S.
Treasury Notes, 0.75%, 1/31/28 |
5,050,000 | 4,332,150 | ||||||
U.S.
Treasury Notes, 1.125%, 2/29/28 |
6,400,000 | 5,573,125 | ||||||
U.S.
Treasury Notes, 1.25%, 4/30/28 |
6,370,000 | 5,556,456 | ||||||
U.S.
Treasury Notes, 1.25%, 6/30/28 |
6,800,000 | 5,909,094 | ||||||
U.S.
Treasury Notes, 1.00%, 7/31/28 |
4,750,000 | 4,065,703 | ||||||
TOTAL
U.S. TREASURY SECURITIES AND EQUIVALENTS
(Cost
$75,490,330) |
74,205,402 | |||||||
U.S.
GOVERNMENT AGENCY SECURITIES — 2.1% |
||||||||
Federal
Farm Credit Banks Funding Corp., 3.30%, 8/15/24 |
51,000 | 49,972 | ||||||
Federal
Farm Credit Banks Funding Corp., 1.125%, 1/6/25 |
250,000 | 236,690 | ||||||
Federal
Farm Credit Banks Funding Corp., 4.50%, 3/2/26 |
198,000 | 196,894 | ||||||
FHLB,
3.375%, 12/8/23 |
250,000 | 248,755 | ||||||
FHLB,
3.625%, 2/28/24 |
1,000,000 | 990,640 | ||||||
FHLB,
5.42%, 3/6/24 |
600,000 | 598,585 | ||||||
FHLB,
1.50%, 8/15/24 |
170,000 | 163,863 | ||||||
FHLB,
3.125%, 6/13/25 |
25,000 | 24,194 | ||||||
FHLMC,
0.125%, 10/16/23 |
104,000 | 103,360 | ||||||
FHLMC,
0.25%, 11/6/23 |
104,000 | 103,084 | ||||||
FHLMC,
0.25%, 12/4/23 |
100,000 | 98,552 | ||||||
FHLMC,
5.31%, 11/15/24 |
750,000 | 745,650 | ||||||
FHLMC,
4.00%, 11/25/24 |
550,000 | 539,935 |
Avantis Short-Term Fixed Income ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
FHLMC,
0.375%, 7/21/25 |
$ | 115,000 | $ | 105,668 | ||||
FNMA,
2.625%, 9/6/24 |
675,000 | 656,727 | ||||||
FNMA,
1.625%, 1/7/25 |
250,000 | 238,654 | ||||||
FNMA,
0.375%, 8/25/25 |
25,000 | 22,861 | ||||||
Tennessee
Valley Authority, 0.75%, 5/15/25 |
125,000 | 116,115 | ||||||
TOTAL
U.S. GOVERNMENT AGENCY SECURITIES
(Cost
$5,315,960) |
5,240,199 | |||||||
SOVEREIGN
GOVERNMENTS AND AGENCIES — 0.3% |
||||||||
Sweden
— 0.3% |
||||||||
Svensk
Exportkredit AB, 3.625%, 9/3/24 |
500,000 | 490,181 | ||||||
Svensk
Exportkredit AB, 2.25%, 3/22/27 |
350,000 | 322,189 | ||||||
TOTAL
SOVEREIGN GOVERNMENTS AND AGENCIES
(Cost
$824,790) |
812,370 | |||||||
SHORT-TERM
INVESTMENTS — 0.6% |
||||||||
Money
Market Funds — 0.6% |
||||||||
State
Street Navigator Securities Lending Government Money Market
Portfolio(3)
(Cost
$1,613,350) |
1,613,350 | 1,613,350 | ||||||
TOTAL
INVESTMENT SECURITIES — 99.5%
(Cost
$250,346,512) |
246,387,619 | |||||||
OTHER
ASSETS AND LIABILITIES — 0.5% |
1,166,040 | |||||||
TOTAL
NET ASSETS — 100.0% |
$ | 247,553,659 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount |
Unrealized Appreciation (Depreciation)^ | ||||||||||
U.S. Treasury 5-Year Notes | 50 | December 2023 | $ | 5,346,094 | $ | 45,028 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AID | – | Agency for International Development | ||||||
Equivalent | – | Security whose payments are secured by the U.S. Treasury | ||||||
FHLB | – | Federal Home Loan Bank | ||||||
FHLMC | – | Federal Home Loan Mortgage Corporation | ||||||
FNMA | – | Federal National Mortgage Association |
Statements of Assets and Liabilities |
AUGUST 31, 2023 | ||||||||
Avantis Core Fixed Income ETF | Avantis Core Municipal Fixed Income ETF | |||||||
Assets | ||||||||
Investment securities, at value (cost of $628,348,814 and $89,239,349, respectively) — including $6,025,769 and $—, respectively of securities on loan | $ | 609,883,521 | $ | 86,285,177 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $6,216,703 and $—, respectively) | 6,216,703 | — | ||||||
Total investment securities, at value (cost of $634,565,517 and $89,239,349, respectively) | 616,100,224 | 86,285,177 | ||||||
Cash | 2,589,308 | — | ||||||
Receivable for investments sold | 23,657,047 | — | ||||||
Receivable for variation margin on futures contracts | 29,188 | — | ||||||
Interest receivable | 4,483,771 | 993,571 | ||||||
Securities lending receivable | 6,754 | — | ||||||
646,866,292 | 87,278,748 | |||||||
Liabilities | ||||||||
Forward
sales commitments, at value (proceeds of $2,447,773 and —,
respectively) |
2,428,516 | — | ||||||
Payable for collateral received for securities on loan | 6,216,703 | — | ||||||
Payable for investments purchased | 123,936,736 | 522,505 | ||||||
Payable for variation margin on swap agreements | 3,498 | — | ||||||
Accrued management fees | 63,388 | 10,734 | ||||||
132,648,841 | 533,239 | |||||||
Net Assets | $ | 514,217,451 | $ | 86,745,509 | ||||
Shares outstanding (unlimited number of shares authorized) | 12,600,000 | 1,900,000 | ||||||
Net Asset Value Per Share | $ | 40.81 | $ | 45.66 | ||||
Net Assets Consist of: | ||||||||
Capital paid in | $ | 548,186,074 | $ | 89,535,932 | ||||
Distributable earnings (loss) | (33,968,623) | (2,790,423) | ||||||
$ | 514,217,451 | $ | 86,745,509 |
AUGUST 31, 2023 | |||||
Avantis
Short-Term
Fixed
Income ETF | |||||
Assets | |||||
Investment securities, at value (cost of $248,733,162) — including $1,566,453 of securities on loan | $ | 244,774,269 | |||
Investment made with cash collateral received for securities on loan, at value (cost of $1,613,350) | 1,613,350 | ||||
Total investment securities, at value (cost of $250,346,512) | 246,387,619 | ||||
Cash | 965,240 | ||||
Receivable for investments sold | 1,710,558 | ||||
Receivable for variation margin on futures contracts | 5,860 | ||||
Interest receivable | 1,870,971 | ||||
Securities lending receivable | 1,015 | ||||
250,941,263 | |||||
Liabilities | |||||
Payable for collateral received for securities on loan | 1,613,350 | ||||
Payable for investments purchased | 1,743,145 | ||||
Accrued management fees | 31,109 | ||||
3,387,604 | |||||
Net Assets | $ | 247,553,659 | |||
Shares outstanding (unlimited number of shares authorized) | 5,400,000 | ||||
Net Asset Value Per Share | $ | 45.84 | |||
Net Assets Consist of: | |||||
Capital paid in | $ | 253,528,527 | |||
Distributable earnings (loss) | (5,974,868) | ||||
$ | 247,553,659 |
Statements of Operations |
YEAR ENDED AUGUST 31, 2023 | ||||||||
Avantis
Core Fixed
Income
ETF |
Avantis
Core Municipal Fixed
Income
ETF | |||||||
Investment Income (Loss) | ||||||||
Income: | ||||||||
Interest | $ | 14,866,747 | $ | 1,705,634 | ||||
Securities lending, net | 18,874 | — | ||||||
14,885,621 | 1,705,634 | |||||||
Expenses: | ||||||||
Management fees | 549,477 | 99,573 | ||||||
Other expenses | 14,104 | — | ||||||
563,581 | 99,573 | |||||||
Net investment income (loss) | 14,322,040 | 1,606,061 | ||||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) on: | ||||||||
Investment transactions | (13,850,933) | (41,515) | ||||||
Futures contract transactions | (677,790) | — | ||||||
Swap agreement transactions | 75,109 | — | ||||||
(14,453,614) | (41,515) | |||||||
Change in net unrealized appreciation (depreciation) on: | ||||||||
Investments | (323,694) | (277,807) | ||||||
Futures contracts | 124,441 | — | ||||||
Swap agreements | 110,106 | — | ||||||
(89,147) | (277,807) | |||||||
Net realized and unrealized gain (loss) | (14,542,761) | (319,322) | ||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (220,721) | $ | 1,286,739 |
YEAR ENDED AUGUST 31, 2023 | |||||
Avantis
Short-Term
Fixed
Income ETF | |||||
Investment Income (Loss) | |||||
Income: | |||||
Interest | $ | 7,583,587 | |||
Securities lending, net | 5,658 | ||||
7,589,245 | |||||
Expenses: | |||||
Management fees | 296,426 | ||||
Other expenses | 453 | ||||
296,879 | |||||
Net investment income (loss) | 7,292,366 | ||||
Realized and Unrealized Gain (Loss) | |||||
Net realized gain (loss) on: | |||||
Investment transactions | (2,370,547) | ||||
Futures contract transactions | (80,407) | ||||
(2,450,954) | |||||
Change in net unrealized appreciation (depreciation) on: | |||||
Investments | 7,143 | ||||
Futures contracts | 45,028 | ||||
52,171 | |||||
Net realized and unrealized gain (loss) | (2,398,783) | ||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 4,893,583 |
Statements of Changes in Net Assets |
YEARS ENDED AUGUST 31, 2023 AND AUGUST 31, 2022 | ||||||||||||||
Avantis
Core Fixed
Income
ETF |
Avantis
Core Municipal Fixed
Income
ETF | |||||||||||||
Increase (Decrease) in Net Assets | August 31, 2023 | August 31, 2022 | August 31, 2023 | August 31, 2022 | ||||||||||
Operations | ||||||||||||||
Net investment income (loss) | $ | 14,322,040 | $ | 3,231,684 | $ | 1,606,061 | $ | 295,442 | ||||||
Net realized gain (loss) | (14,453,614) | (5,265,375) | (41,515) | 60 | ||||||||||
Change in net unrealized appreciation (depreciation) | (89,147) | (18,555,986) | (277,807) | (2,780,081) | ||||||||||
Net increase (decrease) in net assets resulting from operations | (220,721) | (20,589,677) | 1,286,739 | (2,484,579) | ||||||||||
Distributions to Shareholders | ||||||||||||||
From earnings | (12,947,460) | (2,680,155) | (1,437,620) | (271,910) | ||||||||||
Capital Share Transactions | ||||||||||||||
Proceeds from shares sold | 306,161,799 | 202,856,185 | 50,339,950 | 11,608,180 | ||||||||||
Payments for shares redeemed | (27,914,250) | — | — | — | ||||||||||
Other capital | 6,416 | 11,448 | 57,527 | 10,377 | ||||||||||
Net increase (decrease) in net assets from capital share transactions | 278,253,965 | 202,867,633 | 50,397,477 | 11,618,557 | ||||||||||
Net increase (decrease) in net assets | 265,085,784 | 179,597,801 | 50,246,596 | 8,862,068 | ||||||||||
Net Assets | ||||||||||||||
Beginning of period | 249,131,667 | 69,533,866 | 36,498,913 | 27,636,845 | ||||||||||
End of period | $ | 514,217,451 | $ | 249,131,667 | $ | 86,745,509 | $ | 36,498,913 | ||||||
Transactions in Shares of the Funds | ||||||||||||||
Sold | 7,450,000 | 4,450,000 | 1,100,000 | 250,000 | ||||||||||
Redeemed | (700,000) | — | — | — | ||||||||||
Net increase (decrease) in shares of the funds | 6,750,000 | 4,450,000 | 1,100,000 | 250,000 |
YEARS ENDED AUGUST 31, 2023 AND AUGUST 31, 2022 | ||||||||
Avantis
Short-Term Fixed Income ETF | ||||||||
Increase (Decrease) in Net Assets | August 31, 2023 | August 31, 2022 | ||||||
Operations | ||||||||
Net investment income (loss) | $ | 7,292,366 | $ | 730,680 | ||||
Net realized gain (loss) | (2,450,954) | (527,439) | ||||||
Change in net unrealized appreciation (depreciation) | 52,171 | (3,976,581) | ||||||
Net increase (decrease) in net assets resulting from operations | 4,893,583 | (3,773,340) | ||||||
Distributions to Shareholders | ||||||||
From earnings | (6,495,520) | (622,910) | ||||||
Capital Share Transactions | ||||||||
Proceeds from shares sold | 162,951,075 | 58,095,084 | ||||||
Other capital | 2,647 | 4,107 | ||||||
Net increase (decrease) in net assets from capital share transactions | 162,953,722 | 58,099,191 | ||||||
Net increase (decrease) in net assets | 161,351,785 | 53,702,941 | ||||||
Net Assets | ||||||||
Beginning of period | 86,201,874 | 32,498,933 | ||||||
End of period | $ | 247,553,659 | $ | 86,201,874 | ||||
Transactions in Shares of the Funds | ||||||||
Sold | 3,550,000 | 1,200,000 |
Notes to Financial Statements |
Remaining Contractual Maturity of Agreements | |||||||||||||||||
Fund
/ Securities Lending Transactions(1) |
Overnight
and
Continuous |
<30 days |
Between
30
& 90 days |
>90 days | Total | ||||||||||||
Avantis Core Fixed Income ETF | |||||||||||||||||
Corporate Bonds | $ | 6,216,703 | — | — | — | $ | 6,216,703 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 6,216,703 | |||||||||||||||
Avantis Short-Term Fixed Income ETF | |||||||||||||||||
Corporate Bonds | $ | 1,613,350 | — | — | — | $ | 1,613,350 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 1,613,350 |
Annual Management Fee | |||||
Avantis Core Fixed Income ETF | 0.15% | ||||
Avantis Core Municipal Fixed Income ETF | 0.15% | ||||
Avantis Short-Term Fixed Income ETF | 0.15% |
Avantis
Core Fixed Income ETF |
Avantis
Core Municipal Fixed Income ETF |
Avantis Short-Term Fixed Income ETF | |||||||||
Purchases of U.S. Treasury and Government Agency obligations | $1,316,244,610 | — | $36,806,767 | ||||||||
Purchases of other investment securities | $60,008,878 | $42,582,911 | $74,512,859 | ||||||||
Total Purchases | $1,376,253,488 | $42,582,911 | $111,319,626 | ||||||||
Sales of U.S. Treasury and Government Agency obligations | $1,260,795,261 | — | $31,403,519 | ||||||||
Sales of other investment securities | $79,508,653 | $3,927,089 | $77,597,200 | ||||||||
Total Sales | $1,340,303,914 | $3,927,089 | $109,000,719 |
In
kind
Subscriptions |
In
kind
Redemptions |
In
kind
Net
Realized
Gain/(Loss)* | |||||||||
Avantis Core Fixed Income ETF | $278,282,651 | $22,008,230 | $(2,052,681) | ||||||||
Avantis Core Municipal Fixed Income ETF | $13,532,799 | — | — | ||||||||
Avantis Short-Term Fixed Income ETF | $150,608,458 | — | — |
Avantis Core Fixed Income ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Corporate Bonds | — | $ | 317,354,035 | — | |||||||
U.S. Treasury Securities | — | 123,299,198 | — | ||||||||
U.S. Government Agency Mortgage-Backed Securities | — | 102,376,973 | — | ||||||||
U.S. Government Agency Securities | — | 12,746,613 | — | ||||||||
Sovereign Governments and Agencies | — | 2,048,595 | — | ||||||||
Short-Term Investments | $ | 6,216,703 | 52,058,107 | — | |||||||
$ | 6,216,703 | $ | 609,883,521 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 123,221 | — | — | |||||||
Swap Agreements | — | $ | 170,776 | — | |||||||
$ | 123,221 | $ | 170,776 | — | |||||||
Liabilities | |||||||||||
Other Financial Instruments | |||||||||||
Forward Sales Commitments | — | $ | 2,428,516 | — | |||||||
Futures Contracts | $ | 26,512 | — | — | |||||||
$ | 26,512 | $ | 2,428,516 | — |
Avantis Core Municipal Fixed Income ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Municipal Securities | — | $ | 85,691,706 | — | |||||||
Short-Term Investments | $ | 593,471 | — | — | |||||||
$ | 593,471 | $ | 85,691,706 | — |
Avantis Short-Term Fixed Income ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Corporate Bonds | — | $ | 164,516,298 | — | |||||||
U.S. Treasury Securities and Equivalents | — | 74,205,402 | — | ||||||||
U.S. Government Agency Securities | — | 5,240,199 | — | ||||||||
Sovereign Governments and Agencies | — | 812,370 | — | ||||||||
Short-Term Investments | $ | 1,613,350 | — | — | |||||||
$ | 1,613,350 | $ | 244,774,269 | — | |||||||
Other Financial Instruments | |||||||||||
Futures Contracts | $ | 45,028 | — | — |
Avantis Core Fixed Income ETF | $ | 8,083,333 |
Futures Contracts Purchased | Futures Contracts Sold | |||||||
Avantis Core Fixed Income ETF | $ | 8,574,021 | $ | 3,159,297 | ||||
Avantis Short-Term Fixed Income ETF | $ | 5,343,555 | — |
Asset Derivatives | Liability Derivatives | |||||||||||||
Fund / Type of Risk Exposure | Location on Statement of Assets and Liabilities | Value | Location on Statement of Assets and Liabilities | Value | ||||||||||
Avantis Core Fixed Income ETF | ||||||||||||||
Credit Risk | Receivable for variation margin on swap agreements* | — | Payable for variation margin on swap agreements* | $ | 3,498 | |||||||||
Interest Rate Risk | Receivable for variation margin on futures contracts* | $ | 29,188 | Payable for variation margin on futures contracts* | — | |||||||||
$ | 29,188 | $ | 3,498 | |||||||||||
Avantis Short-Term Fixed Income ETF | ||||||||||||||
Interest Rate Risk | Receivable for variation margin on futures contracts* | $ | 5,860 | Payable for variation margin on futures contracts* | — |
|
Net Realized Gain (Loss) |
Change
in Net Unrealized Appreciation
(Depreciation) | ||||||||||||
Fund / Type of Risk Exposure | Location on Statement of Operations | Value | Location on Statement of Operations | Value | ||||||||||
Avantis Core Fixed Income ETF | ||||||||||||||
Credit Risk | Net realized gain (loss) on swap agreement transactions | $ | 75,109 | Change in net unrealized appreciation (depreciation) on swap agreements | $ | 110,106 | ||||||||
Interest Rate Risk | Net realized gain (loss) on futures contract transactions | (677,790) | Change in net unrealized appreciation (depreciation) on futures contracts | 124,441 | ||||||||||
$ | (602,681) | $ | 234,547 | |||||||||||
Avantis Short-Term Fixed Income ETF | ||||||||||||||
Interest Rate Risk | Net realized gain (loss) on futures contract transactions | $ | (80,407) | Change in net unrealized appreciation (depreciation) on futures contracts | $ | 45,028 |
2023 | 2022 | |||||||||||||||||||
Distributions Paid From: | Distributions Paid From: | |||||||||||||||||||
Exempt Income |
Ordinary Income |
Long-term
Capital
Gains |
Exempt Income |
Ordinary Income |
Long-term Capital Gains | |||||||||||||||
Avantis Core Fixed Income ETF | — | $ | 12,947,460 | — | — | $ | 2,680,155 | — | ||||||||||||
Avantis Core Municipal Fixed Income ETF | $ | 1,437,620 | — | — | $ | 271,910 | — | — | ||||||||||||
Avantis Short-Term Fixed Income ETF | — | $ | 6,495,520 | — | — | $ | 622,910 | — |
Avantis
Core Fixed Income ETF |
Avantis
Core Municipal Fixed Income ETF |
Avantis
Short-Term Fixed Income ETF | |||||||||
Federal tax cost of investments | $ | 634,896,024 | $ | 89,239,859 | $ | 250,346,900 | |||||
Gross tax appreciation of investments | $ | 450,419 | $ | 186,108 | $ | 75,738 | |||||
Gross tax depreciation of investments | (19,246,219) | (3,140,790) | (4,035,019) | ||||||||
Net tax appreciation (depreciation) of investments | (18,795,800) | (2,954,682) | (3,959,281) | ||||||||
Net tax appreciation (depreciation) on forward sales commitments | 19,257 | — | — | ||||||||
Net tax appreciation (depreciation) on derivatives | 78,766 | — | — | ||||||||
Net tax appreciation (depreciation) | $ | (18,697,777) | $ | (2,954,682) | $ | (3,959,281) | |||||
Undistributed ordinary income | $ | 2,083,907 | — | $ | 944,679 | ||||||
Undistributed exempt income | — | $ | 210,730 | — | |||||||
Accumulated short-term capital losses | $ | (11,576,914) | $ | (10,141) | $ | (1,238,809) | |||||
Accumulated long-term capital losses | $ | (5,777,839) | $ | (36,330) | $ | (1,721,457) |
Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | ||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | |||||||||||||||||||||||||||||||||||||
Income From Investment Operations*: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||
Net
Asset
Value,
Beginning
of
Period |
Net
Investment
Income
(Loss)(1) |
Net
Realized
and
Unrealized
Gain
(Loss) |
Total
From
Investment
Operations |
Distributions From Net Investment Income |
Other
Capital(1) |
Net
Asset
Value,
End
of
Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets,
End
of
Period
(in
thousands) | |||||||||||||||||||||||||||
Avantis Core Fixed Income ETF | ||||||||||||||||||||||||||||||||||||||
2023 | $42.59 | 1.62 | (1.92) | (0.30) | (1.48) |
0.00(4) |
$40.81 | (0.67)% | 0.15% | 3.91% | 346% | $514,217 | ||||||||||||||||||||||||||
2022 | $49.67 | 0.94 | (7.28) | (6.34) | (0.74) |
0.00(4) |
$42.59 | (12.86)% | 0.15% | 2.09% | 382% | $249,132 | ||||||||||||||||||||||||||
2021(5) |
$50.00 | 0.51 | (0.43) | 0.08 | (0.41) |
0.00(4) |
$49.67 | 0.15% |
0.15%(6) |
1.17%(6) |
185% | $69,534 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | ||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | |||||||||||||||||||||||||||||||||||||
Income From Investment Operations*: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||
Net
Asset
Value,
Beginning
of
Period |
Net
Investment
Income
(Loss)(1) |
Net
Realized
and
Unrealized
Gain
(Loss) |
Total
From
Investment
Operations |
Distributions From Net Investment Income |
Other
Capital(1) |
Net
Asset
Value,
End
of
Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets,
End
of
Period
(in
thousands) | |||||||||||||||||||||||||||
Avantis Core Municipal Fixed Income ETF | ||||||||||||||||||||||||||||||||||||||
2023 | $45.62 | 1.11 | (0.13) | 0.98 | (0.98) | 0.04 | $45.66 | 2.22% | 0.15% | 2.42% | 6% | $86,746 | ||||||||||||||||||||||||||
2022 | $50.25 | 0.48 | (4.69) | (4.21) | (0.44) | 0.02 | $45.62 | (8.36)% | 0.15% | 1.01% | 2% | $36,499 | ||||||||||||||||||||||||||
2021(4) |
$50.00 | 0.26 | 0.17 | 0.43 | (0.21) | 0.03 | $50.25 | 0.93% |
0.15%(5) |
0.70%(5) |
14% | $27,637 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | ||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | |||||||||||||||||||||||||||||||||||||
Income From Investment Operations*: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||
Net
Asset
Value,
Beginning
of
Period |
Net
Investment
Income
(Loss)(1) |
Net
Realized
and
Unrealized
Gain
(Loss) |
Total
From
Investment
Operations |
Distributions From Net Investment Income |
Other
Capital(1) |
Net
Asset
Value,
End
of
Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets,
End
of
Period
(in
thousands) | |||||||||||||||||||||||||||
Avantis Short-Term Fixed Income ETF | ||||||||||||||||||||||||||||||||||||||
2023 | $46.60 | 1.70 | (0.96) | 0.74 | (1.50) |
0.00(4) |
$45.84 | 1.63% | 0.15% | 3.69% | 59% | $247,554 | ||||||||||||||||||||||||||
2022 | $50.00 | 0.57 | (3.52) | (2.95) | (0.45) |
0.00(4) |
$46.60 | (5.92)% | 0.15% | 1.18% | 38% | $86,202 | ||||||||||||||||||||||||||
2021(5) |
$50.00 | 0.18 | (0.02) | 0.16 | (0.16) |
0.00(4) |
$50.00 | 0.33% |
0.15%(6) |
0.40%(6) |
49% | $32,499 |
Notes to Financial Highlights |
Report of Independent Registered Public Accounting Firm |
Individual Fund Constituting the American Century ETF Trust | Statement of Operations | Statements of Changes in Net Assets | Financial Highlights | ||||||||
Avantis®
Core Fixed Income ETF |
For the year ended August 31, 2023 | For the years ended August 31, 2023 and 2022 | For the years ended August 31, 2023 and 2022, and the period from October 13, 2020 (fund inception) through August 31, 2021 | ||||||||
Avantis®
Core Municipal Fixed Income ETF |
For the year ended August 31, 2023 | For the years ended August 31, 2023 and 2022 | For the years ended August 31, 2023 and 2022, and the period from December 8, 2020 (fund inception) through August 31, 2021 | ||||||||
Avantis®
Short-Term Fixed Income ETF |
For the year ended August 31, 2023 | For the years ended August 31, 2023 and 2022 | For the years ended August 31, 2023 and 2022, and the period from October 13, 2020 (fund inception) through August 31, 2021 |
Management |
Name (Year of Birth) |
Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Trustee | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Trustees | |||||||||||||||||
Reginald
M. Browne (1968) |
Trustee and Board Chair | Since 2017 (Board Chair since 2019) | Principal, GTS Securities (automated capital markets trading firm) (2019 to present); Senior Managing Director, Co Global Head-ETF Group, Cantor Fitzgerald (financial services firm) (2013 to 2019) | 50 | None | ||||||||||||
Jeremy
I. Bulow (1954) |
Trustee | Since 2022 | Professor
of Economics, Stanford University Graduate School of Business (1979 to present) |
82 | None | ||||||||||||
Barry
A. Mendelson (1958) |
Trustee | Since 2017 | Retired | 50 | None | ||||||||||||
Stephen
E. Yates (1948) |
Trustee | Since 2017 | Retired | 115 | None | ||||||||||||
Interested Trustees | |||||||||||||||||
Jonathan
S. Thomas (1963) |
Trustee | Since 2017 | President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries | 147 | None |
Name
(Year of Birth) |
Offices with the Funds | Principal Occupation(s) During the Past Five Years | ||||||
Patrick
Bannigan (1965) |
President since 2019 | Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries | ||||||
R.
Wes Campbell (1974) |
Chief Financial Officer and Treasurer since 2018 | Vice President, ACS (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present) | ||||||
Amy
D. Shelton (1964) |
Chief Compliance Officer and Vice President since 2017 | Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS | ||||||
John
Pak (1968) |
General
Counsel and Vice President since 2021 |
General Counsel and Senior Vice President, ACC (2021 to present). Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management, The Bank of New York Mellon (2014 to 2021) | ||||||
Cleo
Chang (1977) |
Vice
President since 2019 |
Senior
Vice President, ACIM (2015 to present) | ||||||
David
H. Reinmiller (1963) |
Vice President since 2017 | Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS | ||||||
Ward
D. Stauffer (1960) |
Secretary since 2019 | Attorney, ACS (2003 to present) |
Approval of Management Agreement |
Liquidity Risk Management Program |
Additional Information |
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Contact Us | avantisinvestors.com | |||||||
American Century Sales Representatives, Financial Professionals, Broker Dealers, Insurance Companies, Banks and Trust Companies | 1-833-928-2684 | |||||||
Telecommunications Relay Service for the Deaf | 711 | |||||||
American Century ETF Trust | ||||||||
Investment
Advisor:
American
Century Investment Management, Inc.
Kansas
City, Missouri |
||||||||
Distributor:
Foreside
Fund Services, LLC - Distributor, not affiliated with American Century
Investment Services, Inc. |
||||||||
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. | ||||||||
©2023
American Century Proprietary Holdings, Inc. All rights
reserved. CL-ANN-96956 2310 |