NPORT-EX 2 yield.htm

WBI BullBear Yield 3000 ETF
  
Schedule of Investments
  
March 31, 2026 (Unaudited)
  
   
COMMON STOCKS - 84.9%
  
Shares
   
Value
 
Automobiles & Components - 0.7%
        
Autoliv, Inc.
    
1,834
    
$
192,863
  
                 
Capital Goods - 4.3%
          
Applied Industrial Technologies, Inc.
    
339
      
89,943
  
EMCOR Group, Inc.
    
389
      
287,203
  
General Dynamics Corp.
    
782
      
268,398
  
Lincoln Electric Holdings, Inc.
    
1,070
      
266,516
  
Toro Co.
    
2,934
      
274,153
  
             
1,186,213
  
                 
Commercial & Professional Services - 3.4%
          
Booz Allen Hamilton Holding Corp.
    
3,403
      
265,536
  
Genpact Ltd.
    
2,424
      
90,294
  
Paychex, Inc. (a)
    
3,472
      
319,841
  
Verisk Analytics, Inc.
    
1,310
      
248,572
  
             
924,243
  
                 
Consumer Discretionary Distribution & Retail - 1.2%
          
Best Buy Co., Inc. (a)
    
5,196
      
333,583
  
                 
Consumer Services - 1.0%
          
Yum! Brands, Inc.
    
1,664
      
258,719
  
                 
Consumer Staples Distribution & Retail - 0.9%
          
Dollar General Corp.
    
2,120
      
251,708
  
                 
Energy - 9.6%
          
Archrock, Inc.
    
17,213
      
599,013
  
Baker Hughes Co.
    
3,911
      
238,767
  
EQT Corp.
    
4,300
      
273,652
  
Expand Energy Corp. (a)
    
2,549
      
279,829
  
Exxon Mobil Corp.
    
1,699
      
288,252
  
HF Sinclair Corp. (a)
    
4,746
      
296,103
  
ONEOK, Inc. (a)
    
3,783
      
341,945
  
Phillips 66
    
1,600
      
291,488
  
             
2,609,049
  
                 
Financial Services - 10.3%
          
American Express Co.
    
924
      
279,491
  
Cboe Global Markets, Inc.
    
947
      
266,173
  
Interactive Brokers Group, Inc. - Class A
    
4,003
      
268,481
  
Mastercard, Inc. - Class A
    
530
      
264,820
  
Piper Sandler Cos. (a)
    
3,716
      
284,460
  
T Rowe Price Group, Inc.
    
3,661
      
330,003
  
Tradeweb Markets, Inc. - Class A
    
5,221
      
614,303
  
Virtu Financial, Inc. - Class A
    
6,392
      
281,120
  
Visa, Inc. - Class A
    
775
      
234,236
  
             
2,823,087
  
                 
Food, Beverage & Tobacco - 3.2%
          
Altria Group, Inc.
    
5,162
      
340,641
  
Molson Coors Beverage Co. - Class B
    
6,516
      
280,579
  
Philip Morris International, Inc.
    
1,577
      
260,741
  
             
881,961
  
                 
Health Care Equipment & Services - 1.0%
          
Quest Diagnostics, Inc.
    
1,386
      
271,628
  
                 
Household & Personal Products - 1.0%
          
Kimberly-Clark Corp.
    
2,762
      
266,450
  
                 
Insurance - 11.3%
          
Allstate Corp.
    
1,320
      
273,689
  
Chubb Ltd.
    
841
      
274,107
  
Cincinnati Financial Corp.
    
1,666
      
262,145
  
Hartford Insurance Group, Inc.
    
4,411
      
596,500
  
Marsh & McLennan Cos., Inc. (a)
    
3,202
      
555,387
  
Primerica, Inc.
    
2,304
      
577,106
  
Progressive Corp.
    
1,362
      
270,003
  
RenaissanceRe Holdings Ltd.
    
924
      
274,640
  
             
3,083,577
  
                 
Materials - 3.5%
          
Ball Corp.
    
4,374
      
258,547
  
CF Industries Holdings, Inc.
    
1,496
      
194,241
  
Nucor Corp.
    
1,259
      
212,897
  
Sonoco Products Co.
    
5,169
      
279,591
  
             
945,276
  
                 
Media & Entertainment - 1.0%
          
Netflix, Inc. (b)
    
2,896
      
278,450
  
                 
Pharmaceuticals, Biotechnology & Life Sciences - 4.3%
          
Bristol-Myers Squibb Co.
    
5,037
      
305,494
  
Merck & Co., Inc. (a)
    
2,405
      
289,298
  
Pfizer, Inc.
    
10,113
      
283,973
  
Royalty Pharma PLC - Class A
    
5,857
      
280,960
  
             
1,159,725
  
                 
Semiconductors & Semiconductor Equipment - 1.1%
          
QuickLogic Corp. (b)
    
31,109
      
291,802
  
                 
Software & Services - 7.7%
          
Accenture PLC - Class A
    
495
      
98,154
  
Fastly, Inc. - Class A (b)
    
11,444
      
332,563
  
Figma, Inc. - Class A (b)
    
10,591
      
223,894
  
HubSpot, Inc. (b)
    
1,075
      
262,407
  
Microsoft Corp.
    
273
      
101,056
  
RingCentral, Inc. - Class A (a)
    
7,282
      
270,818
  
Roper Technologies, Inc.
    
875
      
309,627
  
ServiceTitan, Inc. - Class A (a)(b)
    
3,664
      
232,517
  
Wix.com Ltd. (a)(b)
    
3,126
      
281,559
  
             
2,112,595
  
                 
Technology Hardware & Equipment - 6.2%
          
Applied Optoelectronics, Inc. (a)(b)
    
2,610
      
220,780
  
Cisco Systems, Inc.
    
3,481
      
270,091
  
Dell Technologies, Inc. - Class C
    
1,667
      
273,605
  
HP, Inc. (a)
    
18,569
      
356,710
  
Keysight Technologies, Inc. (b)
    
980
      
276,723
  
TD SYNNEX Corp.
    
1,724
      
290,856
  
             
1,688,765
  
                 
Telecommunication Services - 2.1%
          
AT&T, Inc.
    
10,349
      
300,017
  
Millicom International Cellular SA
    
3,657
      
274,056
  
             
574,073
  
                 
Transportation - 1.0%
          
FedEx Corp.
    
771
      
274,615
  
                 
Utilities - 10.1%
          
Atmos Energy Corp. (a)
    
1,467
      
270,984
  
CenterPoint Energy, Inc.
    
6,290
      
271,476
  
Clearway Energy, Inc. - Class A
    
8,300
      
325,111
  
CMS Energy Corp.
    
3,520
      
273,082
  
FirstEnergy Corp.
    
5,364
      
271,740
  
National Fuel Gas Co.
    
2,849
      
267,692
  
NextEra Energy, Inc.
    
2,983
      
277,061
  
NiSource, Inc.
    
5,906
      
275,574
  
WEC Energy Group, Inc.
    
2,359
      
273,101
  
Xcel Energy, Inc.
    
3,342
      
265,489
  
             
2,771,310
  
TOTAL COMMON STOCKS (Cost $23,101,970)
      
23,179,692
  
                 
EXCHANGE TRADED FUNDS - 13.5%
  
Shares
   
Value
 
Angel Oak High Yield Opportunities ETF
    
66,533
      
727,206
  
Eaton Vance Short Duration Income ETF
    
8,771
      
446,795
  
First Trust Senior Loan ETF (a)
    
5,569
      
249,491
  
Invesco Ultra Short Duration ETF
    
6,053
      
303,376
  
iShares Short Duration Bond Active ETF
    
4,806
      
244,313
  
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
    
14,155
      
435,691
  
TCW Senior Loan ETF
    
10,918
      
494,381
  
WisdomTree Trust WisdomTree Interest Rate Hedged US Aggregate Bond Fund
    
34,963
      
788,325
  
TOTAL EXCHANGE TRADED FUNDS (Cost $3,712,809)
      
3,689,578
  
                 
SHORT-TERM INVESTMENTS
  
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 15.2%
  
Units
   
Value
 
Mount Vernon Liquid Assets Portfolio, LLC, 3.78% (c)
    
4,165,226
      
4,165,226
  
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $4,165,226)
      
4,165,226
  
                 
TOTAL INVESTMENTS - 113.6% (Cost $30,980,005)
      
31,034,496
  
Money Market Deposit Account - 2.4% (d)
      
669,057
  
Liabilities in Excess of Other Assets - (16.0)%
      
(4,381,069
)
TOTAL NET ASSETS - 100.0%
          
$
27,322,484
  
                 
Percentages are stated as a percent of net assets.
          

LLC - Limited Liability Company
PLC - Public Limited Company
 
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

(a)
All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $4,095,565.
(b)
Non-income producing security.
(c)
The rate shown represents the 7-day annualized yield as of March 31, 2026.
(d)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of March 31, 2026 was 1.77%.

 
Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
 
WBI BullBear Yield 3000 ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of March 31, 2026:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
23,179,692
    
$
–
    
$
–
    
$
23,179,692
  
  Exchange Traded Funds
    
3,689,578
      
–
      
–
      
3,689,578
  
  Investments Purchased with Proceeds from Securities Lending(a)
    
–
      
–
      
–
      
4,165,226
  
Total Investments
  
$
26,869,270
    
$
–
    
$
–
    
$
31,034,496
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  

(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $4,165,226 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.