WBI BullBear Value 3000 ETF

Schedule of Investments

March 31, 2021 (Unaudited)

Shares		Security Description	Value
		COMMON STOCKS - 97.6%
		Capital Goods - 15.0%
	20,026	Emerson Electric Company	$	1,806,746
	6,250	Lockheed Martin Corp.		2,309,375
	2,465	Parker - Hannifin Corp.		777,535
	5,142	W.W. Grainger, Inc. +		2,061,582
				6,955,238
		Consumer Durables & Apparel - 4.2%
	34,536	Toll Brothers, Inc.		1,959,227
		Consumer Services - 1.4%
	12,816	Service Corp. International		654,257
		Diversified Financials - 9.4%
	9,140	Ameriprise Financial, Inc.		2,124,593
	18,185	Raymond James Financial, Inc.		2,228,754
				4,353,347
		Energy - 2.2%
	13,670	Diamondback Energy, Inc.		1,004,608
		Food, Beverage & Tobacco - 7.6%
	13,255	JM Smucker Company +		1,677,155
	24,883	Tyson Foods, Inc. - Class A		1,848,807
				3,525,962
		Health Care Equipment & Services - 7.5%
	9,817	HCA Holdings, Inc.		1,848,934
	12,566	Quest Diagnostics, Inc.		1,612,720
				3,461,654
		Household & Personal Products - 5.8%
	14,454	Kimberly-Clark Corp.		2,009,829
	5,134	Procter & Gamble Company		695,297
				2,705,126
		Insurance - 12.7%
	17,418	American Financial Group, Inc.		1,987,394
	14,767	First American Financial Corp.		836,550
	3,175	Primerica, Inc.		469,328
	35,536	Principal Financial Group, Inc.		2,130,739
	5,929	W. R. Berkley Corp.		446,750
				5,870,761
		Materials - 3.2%
	19,995	CRH PLC - ADR+(c)		939,365
	9,061	Newmont Corp.		546,107
				1,485,472
		Pharmaceuticals, Biotechnology & Life Sciences - 2.3%
	9,622	AbbVie, Inc.		1,041,293
		Retailing - 9.4%
	19,803	Best Buy Company, Inc.		2,273,583
	10,434	Target Corp. +		2,066,662
				4,340,245
		Software & Services - 10.0%
	1,879	Accenture PLC - Class A - ADR(c)		519,074
	12,764	Broadridge Financial Solutions, Inc.		1,954,168
	4,907	Microsoft Corp.		1,156,923
	879	Shopify, Inc. - ADR*+(c)		972,614
				4,602,779
		Technology Hardware & Equipment - 3.1%
	8,640	CDW Corp.		1,432,080
		Transportation - 3.8%
	10,211	United Parcel Service, Inc. - Class B		1,735,768
		TOTAL COMMON STOCKS (Cost $43,971,355)		45,127,817

Shares/Amount	Security Description	Value
	SHORT TERM INVESTMENTS - 1.9%
879,533	U.S. Bank Money Market Deposit Account, 0.00% (d)		879,533
	TOTAL TOTAL SHORT TERM INVESTMENTS (Cost $879,532)		879,533
	INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 9.7%
4,498,230	Mount Vernon Liquid Assets Portfolio, LLC, 0.12% (a)(b)		4,498,230
	TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $4,498,230)		4,498,230
	TOTAL INVESTMENTS - 109.2% (Cost $49,349,117)		50,505,580
	Liabilities in Excess of Other Assets - (9.2)%		(4,274,743	)
	NET ASSETS - 100.0%	$	46,230,837

PLC Public Limited Company

ADR American Depository Receipt

+ All or portion of this security is on loan as of March 31, 2021. Total value of securities on loan is $4,390,153.

* Non-income producing security.

(a) The rate quoted is the annualized seven-day yield as of March 31, 2021.

(b) Privately offered liquidity fund.

(c) Foreign issued security. Foreign concentration is as follows: Ireland: 3.15%, Canada: 2.10%.

(d) Rounded to 0.00

The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

The accompanying notes are an integral part of these schedules of investments.