SoFi Select 500 ETF

Ticker: SFY

SoFi Next 500 ETF

Ticker: SFYX

SoFi Social 50 ETF

Ticker: SFYF

SoFi Be Your Own Boss ETF

Ticker: BYOB

SoFi Weekly Income ETF

Ticker: TGIF

SoFi Weekly Dividend ETF

Ticker: WKLY

SoFi Web 3 ETF

Ticker: TWEB

SoFi Smart Energy ETF

Ticker: ENRG

Semi-Annual Report

August 31, 2023

SoFi Funds

TABLE OF CONTENTS

 

Portfolio Allocations

1

Schedules of Investments

4

Statements of Assets and Liabilities

39

Statements of Operations

41

Statements of Changes in Net Assets

43

Financial Highlights

51

Notes to Financial Statements

59

Expense Examples

84

Statement Regarding Liquidity Risk Management Program

86

Basis For Trustees’ Approval of Investment Advisory Agreement

87

Additional Information

91

This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.

1

SoFi Funds

SOFI SELECT 500 ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Technology

25.3

%

Communications

16.2

Consumer, Non-cyclical

16.2

Financial

12.2

Consumer, Cyclical

10.5

Energy

8.5

Industrial

6.0

Utilities

2.6

Basic Materials

2.0

Cash & Cash Equivalents(1)

0.5

100.0

%

(1)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

SOFI NEXT 500 ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Consumer, Non-cyclical

18.6

%

Financial

18.1

Industrial

16.9

Consumer, Cyclical

15.0

Technology

12.8

Energy

10.8

Communications

2.7

Utilities

2.4

Basic Materials

2.3

Cash & Cash Equivalents(2)

0.4

100.0

%

(2)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

SOFI SOCIAL 50 ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Consumer, Cyclical

30.0

%

Technology

27.2

Communications

26.8

Financial

6.6

Consumer, Non-cyclical

6.3

Industrial

1.6

Energy

1.2

Cash & Cash Equivalents(3)

0.3

100.0

%

(3)Represents cash, short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

2

SoFi Funds

SOFI BE YOUR OWN BOSS ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Communications

43.2

%

Technology

31.0

Consumer, Non-cyclical

14.1

Financial

5.8

Consumer, Cyclical

4.7

Industrial

1.2

Cash & Cash Equivalents(4)

0.0

(5) 

100.0

%

(4)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

(5)Does not round to 0.1% or (0.1)%, as applicable.

SOFI WEEKLY INCOME ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector/Investment Type

% of Net Assets

Financial

24.2

%

Consumer, Cyclical

21.3

Energy

13.6

Communications

9.5

Industrial

8.1

Consumer, Non-cyclical

7.7

Asset Backed Securities

2.9

Basic Materials

2.6

Technology

2.5

Utilities

2.5

Cash & Cash Equivalents(6)

2.1

Government

1.8

Mortgage Backed Securities

1.2

100.0

%

(6)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

SOFI WEEKLY DIVIDEND ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Financial

24.5

%

Consumer, Non-cyclical

23.8

Energy

12.7

Industrial

10.7

Consumer, Cyclical

7.5

Technology

5.9

Utilities

5.3

Communications

5.2

Basic Materials

3.7

Cash & Cash Equivalents(7)

0.7

Diversified

0.0

(8) 

100.0

%

(7)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

(8)Does not round to 0.1% or (0.1)%, as applicable.

3

SoFi Funds

SOFI WEB 3 ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Technology

35.7

%

Communications

25.1

Consumer, Cyclical

14.6

Financial

11.0

Consumer, Non-cyclical

13.0

Cash & Cash Equivalents(9)

0.6

100.0

%

(9)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

SOFI SMART ENERGY ETF PORTFOLIO ALLOCATION at August 31, 2023 (Unaudited)

Sector

% of Net Assets

Industrial

45.8

%

Energy

30.9

Consumer, Cyclical

9.4

Technology

6.7

Utilities

4.6

Consumer, Non-cyclical

2.5

Cash & Cash Equivalents(10)

0.1

100.0

%

(10)Represents short-term investments, investments purchased with collateral from securities lending and liabilities in excess of other assets.

SoFi Select 500 ETF

4

The accompanying notes are an integral part of these financial statements.

 

 

Shares

 

Value

Common Stocks – 99.5%

Advertising – 0.1%

Omnicom Group, Inc.(1)

1,775

$143,793

The Trade Desk, Inc. - Class A(1)(2)

8,004

640,560

784,353

Aerospace & Defense – 1.3%

General Dynamics Corp.

2,728

618,274

Howmet Aerospace, Inc.

5,600

277,032

L3Harris Technologies, Inc.

1,852

329,823

Lockheed Martin Corp.

2,394

1,073,350

Northrop Grumman Corp.

1,345

582,506

RTX Corp.

16,587

1,427,145

The Boeing Co.(2)

7,356

1,647,965

TransDigm Group, Inc.

674

609,195

6,565,290

Agriculture – 0.6%

Altria Group, Inc.

22,075

976,156

Archer-Daniels-Midland Co.

7,702

610,769

Bunge Ltd.

1,619

185,084

Philip Morris International, Inc.

14,762

1,418,038

3,190,047

Airlines – 0.4%

Delta Air Lines, Inc.

26,103

1,119,297

Southwest Airlines Co.

14,459

456,904

United Airlines Holdings, Inc.(2)

12,548

625,016

2,201,217

Apparel – 0.2%

Nike, Inc. - Class A

11,448

1,164,376

Auto Manufacturers – 4.6%

Cummins, Inc.

1,668

383,706

Ford Motor Co.

71,246

864,214

General Motors Co.

17,535

587,598

PACCAR, Inc.

7,579

623,676

Stellantis NV(1)

44,400

823,620

Tesla, Inc.(2)

81,186

20,952,483

24,235,297

Banks – 3.4%

Bank of America Corp.

98,223

2,816,053

Citigroup, Inc.

25,009

1,032,622

Citizens Financial Group, Inc.

7,688

216,264

Fifth Third Bancorp

8,597

228,250

Huntington Bancshares, Inc.

27,555

305,585

JPMorgan Chase & Co.

37,186

5,441,427

KeyCorp

10,945

124,007

 

 

Shares

 

Value

Banks – 3.4% (Continued)

M&T Bank Corp.

3,286

$410,914

Morgan Stanley

16,345

1,391,777

Northern Trust Corp.

2,785

211,855

Regions Financial Corp.

11,174

204,931

State Street Corp.

3,869

265,955

The Bank of New York Mellon Corp.

11,158

500,660

The Goldman Sachs Group, Inc.

2,942

964,123

The PNC Financial Services Group, Inc.

4,984

601,718

Truist Financial Corp.

16,582

506,580

U.S. Bancorp

23,300

851,149

Wells Fargo & Co.

42,054

1,736,410

17,810,280

Beverages – 1.6%

Brown-Forman Corp. - Class A

3,194

211,219

Constellation Brands, Inc. - Class 1

7,709

2,008,657

Keurig Dr Pepper, Inc.

16,113

542,203

Monster Beverage Corp.(2)

10,179

584,376

PepsiCo, Inc.

13,721

2,441,240

The Coca-Cola Co.

44,923

2,687,743

8,475,438

Biotechnology – 1.4%

Alnylam Pharmaceuticals, Inc.(1)(2)

1,531

302,862

Amgen, Inc.

5,560

1,425,250

Biogen, Inc.(2)

1,176

314,415

BioMarin Pharmaceutical, Inc.(2)

4,556

416,327

Bio-Rad Laboratories, Inc. - Class A(2)

182

72,836

Corteva, Inc.

7,976

402,868

Gilead Sciences, Inc.

12,236

935,809

Horizon Therapeutics PLC(1)(2)

3,131

352,989

Illumina, Inc.(1)(2)

1,145

189,177

Incyte Corp.(2)

2,982

192,429

Moderna, Inc.(2)

3,427

387,491

Regeneron Pharmaceuticals, Inc.(2)

703

581,023

Royalty Pharma PLC - Class A

12,279

366,160

Seagen, Inc.(1)(2)

2,601

535,988

Vertex Pharmaceuticals, Inc.(2)

2,908

1,012,973

7,488,597

Building Materials – 0.4%

Carrier Global Corp.(1)

9,113

523,542

Johnson Controls International PLC

7,179

423,992

Martin Marietta Materials, Inc.

675

301,327

Masco Corp.

2,378

140,326

Trane Technologies PLC

2,522

517,665

Vulcan Materials Co.

1,884

411,183

2,318,035


SCHEDULE OF INVESTMENTS at August 31, 2023 (Unaudited)

SoFi Select 500 ETF

5

The accompanying notes are an integral part of these financial statements.

 

 

Shares

 

Value

Chemicals – 1.5%

Air Products and Chemicals, Inc.

2,543

$751,431

Albemarle Corp.(1)

6,453

1,282,276

Celanese Corp.(1)

1,147

144,935

CF Industries Holdings, Inc.

5,965

459,723

Dow, Inc.

6,125

334,180

DuPont de Nemours, Inc.

3,547

272,729

Eastman Chemical Co.

1,078

91,641

Ecolab, Inc.

2,888

530,843

FMC Corp.

1,518

130,897

International Flavors & Fragrances, Inc.

1,767

124,485

Linde PLC

5,374

2,079,953

LyondellBasell Industries NV

3,185

314,582

PPG Industries, Inc.

2,299

325,906

The Mosaic Co.

7,790

302,641

The Sherwin-Williams Co.

2,750

747,230

Westlake Corp.

1,867

244,540

8,137,992

Commercial Services – 1.7%

Automatic Data Processing, Inc.

4,378

1,114,683

Block, Inc. - Class A(2)

4,323

249,221

Booz Allen Hamilton Holding Corp.

1,468

166,339

Cintas Corp.

1,081

545,008

CoStar Group, Inc.(2)

4,126

338,291

Equifax, Inc.(1)

1,098

226,957

FleetCor Technologies, Inc.(2)

958

260,317

Gartner, Inc.(2)

868

303,522

Global Payments, Inc.

7,882

998,571

MarketAxess Holdings, Inc.

351

84,566

Moody’s Corp.

1,352

455,354

PayPal Holdings, Inc.(2)

12,669

791,939

Quanta Services, Inc.

2,214

464,652

Rollins, Inc.

4,875

192,904

S&P Global, Inc.

5,055

1,975,797

TransUnion

2,980

242,036

United Rentals, Inc.

1,008

480,352

Verisk Analytics, Inc.

1,107

268,137

9,158,646

Computers – 6.8%

Accenture PLC - Class A

7,674

2,484,611

Apple, Inc.

141,143

26,516,535

Cognizant Technology Solutions Corp.

4,913

351,820

Crowdstrike Holdings, Inc. - Class A(2)

7,406

1,207,400

Dell Technologies, Inc. - Class A

2,219

124,797

EPAM Systems, Inc.(2)

897

232,314

Fortinet, Inc.(2)

14,295

860,702

Hewlett Packard Enterprise Co.

15,136

257,161

 

 

Shares

 

Value

Computers – 6.8% (Continued)

HP, Inc.

7,348

$218,309

International Business Machines Corp.

14,838

2,178,663

Leidos Holdings, Inc.

1,454

141,780

NetApp, Inc.

2,199

168,663

Seagate Technology Holdings PLC

1,494

105,760

Western Digital Corp.(2)

2,714

122,130

Zscaler, Inc.(2)

4,137

645,579

35,616,224

Cosmetics & Personal Care – 0.8%

Colgate-Palmolive Co.

7,214

530,012

The Estee Lauder Companies, Inc.

2,300

369,219

The Procter & Gamble Co.

20,620

3,182,491

4,081,722

Distribution & Wholesale – 0.3%

Copart, Inc.(2)

10,660

477,888

Fastenal Co.

6,542

376,688

LKQ Corp.

2,220

116,616

W.W. Grainger, Inc.

605

432,055

1,403,247

Diversified Financial Services – 3.6%

American Express Co.

10,620

1,677,854

Ameriprise Financial, Inc.

1,609

543,166

Apollo Global Management, Inc.

13,628

1,190,270

BlackRock, Inc.

1,207

845,552

Capital One Financial Corp.

4,288

439,048

Cboe Global Markets, Inc.

1,451

217,229

CME Group, Inc. - Class A

3,749

759,847

Coinbase Global, Inc. - Class A(1)(2)

1,356

107,938

Discover Financial Services

3,029

272,822

Franklin Resources, Inc.(1)

4,076

108,992

Intercontinental Exchange, Inc.

4,633

546,648

LPL Financial Holdings, Inc.(1)

1,167

269,099

Mastercard, Inc. - Class A

11,230

4,633,947

Nasdaq, Inc.

5,015

263,187

Raymond James Financial, Inc.

2,837

296,722

Synchrony Financial(1)

4,819

155,557

T. Rowe Price Group, Inc.(1)

1,634

183,384

The Charles Schwab Corp.

23,886

1,412,857

Visa, Inc. - Class A(1)

20,536

5,045,284

18,969,403

Electric – 2.6%

Alliant Energy Corp.

2,754

138,168

Ameren Corp.

3,422

271,262

American Electric Power Co., Inc.

5,899

462,482

Avangrid, Inc.

4,351

150,110


SCHEDULE OF INVESTMENTS at August 31, 2023 (Unaudited) (Continued)

SoFi Select 500 ETF

6

The accompanying notes are an integral part of these financial statements.

 

 

Shares

 

Value

Electric – 2.6% (Continued)

CenterPoint Energy, Inc.(1)

7,353

$205,075

CMS Energy Corp.

3,415

191,889

Consolidated Edison, Inc.

4,051

360,377

Constellation Energy Corp.(1)

11,444

1,192,007

Dominion Energy, Inc.

13,741

666,988

DTE Energy Co.

3,092

319,651

Duke Energy Corp.

8,518

756,398

Edison International

5,325

366,626

Entergy Corp.

2,573

245,078

Evergy, Inc.

2,169

119,230

Eversource Energy(1)

4,824

307,868

Exelon Corp.

7,325

293,879

FirstEnergy Corp.(1)

8,647

311,897

NextEra Energy, Inc.

30,670

2,048,756

PG&E Corp.(2)

59,157

964,259

PPL Corp.

28,515

710,594

Public Service Enterprise Group, Inc.

12,206

745,543

Sempra Energy

9,174

644,198

The AES Corp.

12,894

231,189

The Southern Co.

16,068

1,088,286

WEC Energy Group, Inc.

3,568

300,140

Xcel Energy, Inc.

6,213

354,949

13,446,899

Electrical Components & Equipment – 0.2%

AMETEK, Inc.

2,315

369,266

Emerson Electric Co.

5,062

497,341

866,607

Electronics – 0.6%

Agilent Technologies, Inc.(1)

3,130

378,949

Amphenol Corp.

7,012

619,721

Fortive Corp.(1)

4,350

342,997

Garmin Ltd.

1,627

172,495

Honeywell International, Inc.

6,161

1,157,898

Keysight Technologies, Inc.(2)

2,058

274,331

Mettler-Toledo International, Inc.(2)

221

268,179

3,214,570

Energy – Alternate Sources – 0.3%

Enphase Energy, Inc.(2)

5,642

713,882

First Solar, Inc.(2)

3,203

605,752

1,319,634

Engineering & Construction – 0.0%(3)

Jacobs Solutions, Inc.

1,755

236,609

Entertainment – 0.1%

Live Nation Entertainment, Inc.(2)

7,320

618,760

 

 

Shares

 

Value

Environmental Control – 0.2%

Republic Services, Inc.

3,610

$520,309

Waste Management, Inc.

4,268

669,137

1,189,446

Food – 0.8%

Campbell Soup Co.(1)

2,991

124,725

Conagra Brands, Inc.

4,823

144,111

General Mills, Inc.

5,558

376,054

Hormel Foods Corp.

5,029

194,069

Kellogg Co.(1)

3,022

184,402

Lamb Weston Holdings, Inc.

2,351

229,011

McCormick & Co., Inc.(1)

2,131

174,912

Mondelez International, Inc.

12,611

898,660

Sysco Corp.

7,937

552,812

The Hershey Co.

1,594

342,487

The J.M. Smucker Co.

1,072

155,386

The Kraft Heinz Co.

15,328

507,204

The Kroger Co.

7,745

359,291

Tyson Foods, Inc. - Class A

2,526

134,560

4,377,684

Forest Products & Paper – 0.0%(3)

International Paper Co.

4,111

143,556

Gas – 0.1%

Atmos Energy Corp.(1)

2,264

262,511

Hand & Machine Tools – 0.0%(3)

Snap-on, Inc.

446

119,796

Stanley Black & Decker, Inc.(1)

1,419

133,925

253,721

Healthcare – Products – 2.8%

Abbott Laboratories

15,722

1,617,794

Align Technology, Inc.(2)

720

266,501

Baxter International, Inc.(1)

3,866

156,960

Boston Scientific Corp.(2)

21,678

1,169,311

Danaher Corp.

7,517

1,992,005

Edwards Lifesciences Corp.(2)

5,518

421,961

Exact Sciences Corp.(1)(2)

2,277

190,517

GE HealthCare Technologies, Inc.

4,275

301,174

Hologic, Inc.(2)

1,651

123,396

IDEXX Laboratories, Inc.(1)(2)

788

402,991

Insulet Corp.(2)

2,235

428,472

Intuitive Surgical, Inc.(2)

3,476

1,086,876

Medtronic PLC

11,158

909,377

QIAGEN NV(2)

1,901

86,476

ResMed, Inc.

1,602

255,663


SCHEDULE OF INVESTMENTS at August 31, 2023 (Unaudited) (Continued)

SoFi Select 500 ETF

7

The accompanying notes are an integral part of these financial statements.

 

 

Shares

 

Value