NPORT-EX 2 dfnv2.htm

Abacus FCF Innovation Leaders ETF
(formerly, Donoghue Forlines Innovation ETF)
  
Schedule of Investments
  
October 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 99.8%
  
Shares
    
Value
  
Communications - 14.7%
        
AppLovin Corp. - Class A (a)
    
3,112
    
$
527,142
  
DoorDash, Inc. - Class A (a)(b)
    
2,860
      
448,162
  
Electronic Arts, Inc.
    
2,193
      
330,814
  
Expedia Group, Inc. (a)
    
1,516
      
236,966
  
Lyft, Inc. - Class A (a)
    
8,935
      
115,887
  
Maplebear, Inc. (a)
    
4,745
      
209,254
  
Match Group, Inc. (a)
    
4,301
      
154,965
  
New York Times Co. - Class A
    
2,423
      
135,300
  
Pinterest, Inc. - Class A (a)
    
7,650
      
243,193
  
Playtika Holding Corp.
    
8,705
      
68,160
  
ROBLOX Corp. - Class A (a)(b)
    
6,198
      
320,561
  
Spotify Technology SA (a)
    
1,266
      
487,537
  
Trade Desk, Inc. - Class A (a)
    
3,191
      
383,590
  
Uber Technologies, Inc. (a)
    
8,437
      
607,886
  
VeriSign, Inc. (a)
    
1,015
      
179,493
  
Yelp, Inc. (a)
    
1,557
      
53,156
  
             
4,502,066
  
                 
Consumer Discretionary - 1.8%
          
Amazon.com, Inc. (a)
    
300
      
55,920
  
Etsy, Inc. (a)(b)
    
2,557
      
131,532
  
Hasbro, Inc.
    
2,283
      
149,833
  
International Game Technology PLC
    
3,981
      
80,894
  
Mattel, Inc. (a)(b)
    
6,289
      
128,170
  
             
546,349
  
                 
Energy - 0.7%
          
Enphase Energy, Inc. (a)
    
1,628
      
135,189
  
Fluence Energy, Inc. (a)
    
2,989
      
65,011
  
             
200,200
  
                 
Financials - 1.9%
          
Jack Henry & Associates, Inc.
    
956
      
173,925
  
PayPal Holdings, Inc. (a)
    
5,161
      
409,267
  
             
583,192
  
                 
Health Care - 15.3%
          
AbbVie, Inc.
    
4,992
      
1,017,719
  
ACADIA Pharmaceuticals, Inc. (a)
    
3,756
      
54,800
  
Alkermes PLC (a)(b)
    
3,374
      
86,712
  
Amgen, Inc.
    
1,747
      
559,319
  
Bristol-Myers Squibb Co.
    
11,184
      
623,732
  
Gilead Sciences, Inc.
    
6,778
      
602,022
  
Halozyme Therapeutics, Inc. (a)
    
2,151
      
108,776
  
Jazz Pharmaceuticals PLC (a)
    
1,140
      
125,434
  
Johnson & Johnson
    
5,238
      
837,347
  
Neurocrine Biosciences, Inc. (a)
    
1,397
      
168,017
  
Protagonist Therapeutics, Inc. (a)
    
1,332
      
61,059
  
ResMed, Inc.
    
1,076
      
260,898
  
Solventum Corp. (a)
    
2,287
      
165,990
  
             
4,671,825
  
                 
Industrials - 3.2%
          
3M Co.
    
3,095
      
397,615
  
Alarm.com Holdings, Inc. (a)
    
1,154
      
61,543
  
Cimpress PLC (a)
    
593
      
40,923
  
Generac Holdings, Inc. (a)
    
852
      
141,049
  
Vertiv Holdings Co. - Class A
    
3,212
      
351,039
  
             
992,169
  
                 
Technology - 62.2%(c)
          
Adobe, Inc. (a)
    
1,447
      
691,782
  
Altair Engineering, Inc. - Class A (a)
    
1,278
      
132,899
  
Apple, Inc.
    
11,358
      
2,565,886
  
Arista Networks, Inc. (a)
    
1,316
      
508,555
  
Atlassian Corp. - Class A (a)
    
1,788
      
337,110
  
Autodesk, Inc. (a)
    
1,302
      
369,508
  
BlackLine, Inc. (a)
    
1,462
      
80,951
  
Box, Inc. - Class A (a)(b)
    
3,396
      
107,857
  
Broadcom, Inc.
    
7,836
      
1,330,318
  
Cirrus Logic, Inc. (a)
    
1,036
      
113,774
  
Clear Secure, Inc. - Class A (b)
    
2,085
      
76,686
  
Clearwater Analytics Holdings, Inc. - Class A (a)
    
3,626
      
94,675
  
CommVault Systems, Inc. (a)
    
883
      
137,916
  
Crowdstrike Holdings, Inc. - Class A (a)(b)
    
1,606
      
476,773
  
Datadog, Inc. - Class A (a)(b)
    
2,907
      
364,654
  
DocuSign, Inc. (a)(b)
    
3,249
      
225,416
  
Dropbox, Inc. - Class A (a)
    
5,620
      
145,277
  
Duolingo, Inc. (a)
    
735
      
215,333
  
Dynatrace, Inc. (a)(b)
    
4,010
      
215,738
  
F5, Inc. (a)
    
791
      
184,999
  
Fortinet, Inc. (a)
    
5,282
      
415,482
  
Gen Digital, Inc.
    
7,363
      
214,337
  
Impinj, Inc. (a)(b)
    
630
      
119,694
  
International Business Machines Corp.
    
3,181
      
657,576
  
Intuit, Inc.
    
1,068
      
651,800
  
Manhattan Associates, Inc. (a)(b)
    
854
      
224,909
  
Microchip Technology, Inc.
    
3,877
      
284,456
  
Motorola Solutions, Inc.
    
1,003
      
450,698
  
NetApp, Inc.
    
2,220
      
255,988
  
Nutanix, Inc. - Class A (a)
    
3,554
      
220,703
  
Palantir Technologies, Inc. - Class A (a)
    
12,582
      
522,908
  
Palo Alto Networks, Inc. (a)(b)
    
1,596
      
575,087
  
Paylocity Holding Corp. (a)
    
909
      
167,774
  
Pegasystems, Inc.
    
1,963
      
155,941
  
Progress Software Corp.
    
998
      
63,962
  
PTC, Inc. (a)
    
1,282
      
237,593
  
Pure Storage, Inc. - Class A (a)
    
4,476
      
224,024
  
Qorvo, Inc. (a)(b)
    
1,475
      
105,109
  
QUALCOMM, Inc.
    
4,369
      
711,142
  
Qualys, Inc. (a)
    
856
      
102,069
  
Rapid7, Inc. (a)
    
1,463
      
59,134
  
RingCentral, Inc. - Class A (a)
    
1,922
      
69,211
  
Salesforce, Inc.
    
2,816
      
820,498
  
ServiceNow, Inc. (a)
    
855
      
797,706
  
Skyworks Solutions, Inc.
    
1,962
      
171,832
  
Smartsheet, Inc. - Class A (a)
    
2,939
      
165,818
  
Snowflake, Inc. - Class A (a)(b)
    
2,933
      
336,767
  
Tenable Holdings, Inc. (a)
    
2,781
      
110,155
  
Teradata Corp. (a)
    
2,258
      
72,775
  
Ubiquiti, Inc. (b)
    
944
      
250,811
  
UiPath, Inc. - Class A (a)
    
9,768
      
120,733
  
Veeva Systems, Inc. - Class A (a)
    
1,464
      
305,727
  
Vertex, Inc. - Class A (a)(b)
    
1,479
      
61,393
  
Workday, Inc. - Class A (a)
    
1,392
      
325,519
  
Zeta Global Holdings Corp. - Class A (a)
    
4,514
      
124,948
  
Zoom Video Communications, Inc. - Class A (a)(b)
    
3,072
      
229,601
  
Zscaler, Inc. (a)
    
1,530
      
276,609
  
             
19,036,596
  
TOTAL COMMON STOCKS (Cost $27,266,491)
      
30,532,397
  
                 
SHORT-TERM INVESTMENTS - 13.5%
                
Investments Purchased with Proceeds from Securities Lending - 13.5%
                
Mount Vernon Liquid Assets Portfolio, LLC, 5.00% (d)
    
4,109,789
      
4,109,789
  
TOTAL SHORT-TERM INVESTMENTS (Cost $4,109,789)
      
4,109,789
  
                 
TOTAL INVESTMENTS - 113.3% (Cost $31,376,280)
      
34,642,186
  
Money Market Deposit Account - 0.2% (e)
      
62,418
  
Liabilities in Excess of Other Assets - (13.5)%
      
(4,114,476
)
TOTAL NET ASSETS - 100.0%
          
$
30,590,128
  
                 
Percentages are stated as a percent of net assets.
          

PLC - Public Limited Company
SA - Sociedad Anónima

(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of October 31, 2024. The total market value of these securities was $4,042,743 which represented 13.2% of net assets.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
The rate shown represents the 7-day annualized effective yield as of October 31, 2024.
(e)
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 October 31, 2024 was 4.45%.
 
For Fund compliance purposes, the Fund’s sector classifications refers to any one or more of the sector classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management.  This definition does not apply for all purposes of this report, which may combine classifications for reporting ease.
Summary of Fair Value Disclosure as of October 31, 2024 (Unaudited)
 
Abacus FCF Innovation Leaders ETF (formerly, Donoghue Forlines Innovation ETF)  has adopted authoritative fair value accounting standards which establish an authoritative 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 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 would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of October 31, 2024:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
30,532,397
    
$
–
    
$
–
    
$
30,532,397
  
  Investments Purchased with Proceeds from Securities Lending (a)
    
–
      
–
      
–
      
4,109,789
  
Total Investments
  
$
30,532,397
    
$
–
    
$
–
    
$
34,642,186
  
   
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 $4,109,789 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.