WBI BullBear Trend Switch US Total Return ETF

Schedule of Investments

March 31, 2021 (Unaudited)

Shares		Security Description	Value
		EXCHANGE TRADED FUNDS - 99.3%
	105,167	iShares Broad USD High Yield Corporate Bond ETF	$	4,331,828
	62,861	VanEck Vectors Fallen Angel High Yield Bond ETF		2,007,152
	86,213	Xtrackers USD High Yield Corporate Bond ETF +		4,309,788
		TOTAL EXCHANGE TRADED FUNDS (Cost $10,199,968)		10,648,768
Shares/Amount		Security Description	Value
		SHORT TERM INVESTMENTS - 0.7%
	75,902	U.S. Bank Money Market Deposit Account, 0.00% (c)		75,902
		TOTAL SHORT TERM INVESTMENTS (Cost $75,902)		75,902
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 33.7%
	3,611,463	Mount Vernon Liquid Assets Portfolio, LLC, 0.12% (a)(b)		3,611,463
		TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $3,611,463)		3,611,463
		TOTAL INVESTMENTS - 133.7% (Cost $13,887,333)		14,336,133
		Liabilities in Excess of Other Assets - (33.7)%		(3,615,444	)
		NET ASSETS - 100.0%	$	10,720,689

+ All or portion of this security is on loan as of March 31, 2021. Total value of securities on loan is $3,539,942.

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

(b) Privately offered liquidity fund.

(c) 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.