0001752724-21-236670.txt : 20211112 0001752724-21-236670.hdr.sgml : 20211112 20211112140329 ACCESSION NUMBER: 0001752724-21-236670 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210930 FILED AS OF DATE: 20211112 PERIOD START: 20220630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OSI ETF Trust CENTRAL INDEX KEY: 0001672826 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-23167 FILM NUMBER: 211402470 BUSINESS ADDRESS: STREET 1: 60 STATE STREET STREET 2: STE 700 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-855-7670 MAIL ADDRESS: STREET 1: 60 STATE STREET STREET 2: STE 700 CITY: BOSTON STATE: MA ZIP: 02109 0001672826 S000061854 O'Shares Europe Quality Dividend ETF C000200256 O'Shares Europe Quality Dividend ETF OEUR NPORT-P 1 primary_doc.xml NPORT-P false 0001672826 XXXXXXXX S000061854 C000200256 OSI ETF Trust 811-23167 0001672826 549300GNXV2CM1BGXJ27 75 State Street Suite 100 Boston 02109 617-855-7670 O'Shares Europe Quality Dividend ETF S000061854 549300SDEC2UY93G3T66 2022-06-30 2021-09-30 N 38412962.10 132552.97 38280409.13 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 99660.61000000 N Partners Group Holding AG 549300I3IVVWZWDHI788 Partners Group Holding AG N/A 366.00000000 NS 575375.46000000 1.503054625268 Long EC CORP CH N 1 N N N Siemens Healthineers AG 529900QBVWXMWANH7H45 Siemens Healthineers AG N/A 8644.00000000 NS 562809.21000000 1.470227781758 Long EC CORP DE N 1 N N N Swedish Match AB 529900YVXCGNWAUYZG78 Swedish Match AB N/A 61336.00000000 NS 537462.52000000 1.404014565713 Long EC CORP SE N 1 N N N Danone SA 969500KMUQ2B6CBAF162 Danone SA N/A 9138.00000000 NS 625368.15000000 1.633650643273 Long EC CORP FR N 1 N N N Sanofi 549300E9PC51EN656011 Sanofi N/A 8064.00000000 NS 776446.81000000 2.028313771055 Long EC CORP FR N 1 N N N EssilorLuxottica SA 549300M3VH1A3ER1TB49 EssilorLuxottica SA N/A 3358.00000000 NS 644085.31000000 1.682545522992 Long EC CORP FR N 1 N N N Coloplast A/S 529900NN7SOJ5QG82X67 Coloplast A/S, Class B N/A 3369.00000000 NS 528498.39000000 1.380597548488 Long EC CORP DK N 1 N N N Industria de Diseno Textil SA 549300TTCXZOGZM2EY83 Industria de Diseno Textil SA N/A 18053.00000000 NS 665754.73000000 1.739152598236 Long EC CORP ES N 1 N N N Kering SA 549300VGEJKB7SVUZR78 Kering SA N/A 821.00000000 NS 586122.74000000 1.531129769301 Long EC CORP FR N 1 N N N Deutsche Post AG 8ER8GIG7CSMVD8VUFE78 Deutsche Post AG (Registered) N/A 15172.00000000 NS 957953.95000000 2.502465286477 Long EC CORP DE N 1 N N N Cie Generale des Etablissements Michelin SCA 549300SOSI58J6VIW052 Cie Generale des Etablissements Michelin SCA N/A 3709.00000000 NS 570846.85000000 1.491224527045 Long EC CORP FR N 1 N N N Hexagon AB 549300WJFW6ILNI4TA80 Hexagon AB, Class B N/A 35866.00000000 NS 557347.53000000 1.455960222648 Long EC CORP SE N 1 N N N LVMH Moet Hennessy Louis Vuitton SE IOG4E947OATN0KJYSD45 LVMH Moet Hennessy Louis Vuitton SE N/A 1937.00000000 NS 1392053.91000000 3.636465601171 Long EC CORP FR N 1 N N N RELX plc 549300WSX3VBUFFJOO66 RELX plc N/A 22275.00000000 NS 644840.64000000 1.684518673272 Long EC CORP GB N 1 N N N Schindler Holding AG 5299007DRLI319H7Q933 Schindler Holding AG N/A 1962.00000000 NS 528331.89000000 1.380162600158 Long EC CORP CH N 1 N N N Schneider Electric SE 969500A1YF1XUYYXS284 Schneider Electric SE N/A 4245.00000000 NS 707950.98000000 1.849381958264 Long EC CORP FR N 1 N N N Hermes International 969500Y4IJGHJE2MTJ13 Hermes International N/A 431.00000000 NS 597660.67000000 1.561270330132 Long EC CORP FR N 1 N N N Wolters Kluwer NV 724500TEM53I0U077B74 Wolters Kluwer NV N/A 8029.00000000 NS 852171.09000000 2.226128480252 Long EC CORP NL N 1 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA N/A 57388.00000000 NS 577571.30000000 1.508790823103 Long EC CORP ES N 1 N N N Industrivarden AB 549300TM1DLIQI3B3T37 Industrivarden AB, Class C N/A 16894.00000000 NS 525249.10000000 1.372109420816 Long EC CORP SE N 1 N N N 3i Group plc 35GDVHRBMFE7NWATNM84 3i Group plc N/A 32096.00000000 NS 554590.17000000 1.448757164837 Long EC CORP GB N 1 N N N Legrand SA 969500XXRPGD7HCAFA90 Legrand SA N/A 5332.00000000 NS 573212.41000000 1.497404084824 Long EC CORP FR N 1 N N N ABB Ltd. 5493000LKVGOO9PELI61 ABB Ltd. (Registered) N/A 18561.00000000 NS 624569.64000000 1.631564693781 Long EC CORP CH N 1 N N N Investor AB 549300VEBQPHRZBKUX38 Investor AB, Class B N/A 24566.00000000 NS 531106.67000000 1.387411164275 Long EC CORP SE N 1 N N N Swisscom AG 5493005SL9HHOXS3B739 Swisscom AG (Registered) N/A 981.00000000 NS 565138.45000000 1.476312460717 Long EC CORP CH N 1 N N N ASML Holding NV 724500Y6DUVHQD6OXN27 ASML Holding NV N/A 1368.00000000 NS 1024038.03000000 2.675096879248 Long EC CORP NL N 1 N N N Kuehne + Nagel International AG 529900Q0YED3805QXQ66 Kuehne + Nagel International AG (Registered) N/A 1555.00000000 NS 532418.93000000 1.390839184063 Long EC CORP CH N 1 N N N GlaxoSmithKline plc 5493000HZTVUYLO1D793 GlaxoSmithKline plc N/A 38352.00000000 NS 725828.50000000 1.896083444497 Long EC CORP GB N 1 N N N SAP SE 529900D6BF99LW9R2E68 SAP SE N/A 9322.00000000 NS 1262740.19000000 3.298659075747 Long EC CORP DE N 1 N N N Diageo plc 213800ZVIELEA55JMJ32 Diageo plc N/A 15916.00000000 NS 773859.82000000 2.021555771183 Long EC CORP GB N 1 N N N Unilever plc 549300MKFYEKVRWML317 Unilever plc N/A 23494.00000000 NS 1268709.32000000 3.314252247648 Long EC CORP GB N 1 N N N Novo Nordisk A/S 549300DAQ1CVT6CXN342 Novo Nordisk A/S, Class B N/A 15612.00000000 NS 1512023.94000000 3.949863583916 Long EC CORP DK N 1 N N N Roche Holding AG 549300U41AUUVOAAOB37 Roche Holding AG N/A 5380.00000000 NS 1972118.78000000 5.151770382867 Long EC CORP CH N 1 N N N Assa Abloy AB 549300YECS8HKCIMMB67 Assa Abloy AB, Class B N/A 18993.00000000 NS 555121.72000000 1.450145734113 Long EC CORP SE N 1 N N N Henkel AG & Co. KGaA 549300VZCL1HTH4O4Y49 Henkel AG & Co. KGaA N/A 6646.00000000 NS 574212.56000000 1.500016778948 Long EC CORP DE N 1 N N N Geberit AG 52990093Z5OHD6T7BS47 Geberit AG (Registered) N/A 725.00000000 NS 535482.66000000 1.398842572924 Long EC CORP CH N 1 N N N Atlas Copco AB 213800T8PC8Q4FYJZR07 Atlas Copco AB, Class A N/A 9950.00000000 NS 605287.73000000 1.581194516350 Long EC CORP SE N 1 N N N Siemens AG W38RGI023J3WT1HWRP32 Siemens AG (Registered) N/A 4862.00000000 NS 799692.93000000 2.089039663302 Long EC CORP DE N 1 N N N AstraZeneca plc PY6ZZQWO2IZFZC3IOL08 AstraZeneca plc N/A 8190.00000000 NS 989230.74000000 2.584169716265 Long EC CORP GB N 1 N N N Orsted A/S W9NG6WMZIYEU8VEDOG48 Orsted A/S N/A 4064.00000000 NS 537635.51000000 1.404466467884 Long EC CORP DK N 1 N N N Carlsberg A/S 5299001O0WJQYB5GYZ19 Carlsberg A/S, Class B N/A 3462.00000000 NS 566289.33000000 1.479318907164 Long EC CORP DK N 1 N N N Kone OYJ 2138001CNF45JP5XZK38 Kone OYJ, Class B N/A 11986.00000000 NS 844305.60000000 2.205581442802 Long EC CORP FI N 1 N N N Nestle SA KY37LUS27QQX7BB93L28 Nestle SA (Registered) N/A 15966.00000000 NS 1928893.39000000 5.038852598073 Long EC CORP CH N 1 N N N Admiral Group plc 213800FGVM7Z9EJB2685 Admiral Group plc N/A 11727.00000000 NS 491440.09000000 1.283790066953 Long EC CORP GB N 1 N N N SGS SA 2138007JNS19JHNA2336 SGS SA (Registered) N/A 187.00000000 NS 546456.56000000 1.427509716900 Long EC CORP CH N 1 N N N Bunzl plc 213800Q1Q9DV4L78UM09 Bunzl plc N/A 15899.00000000 NS 526288.58000000 1.374824856789 Long EC CORP GB N 1 N N N Novartis AG 5493007HIVTX6SY6XD66 Novartis AG (Registered) N/A 12270.00000000 NS 1010563.43000000 2.639897150963 Long EC CORP CH N 1 N N N Essity AB 549300G8E6YUVJ1DA153 Essity AB, Class B N/A 18553.00000000 NS 576828.85000000 1.506851319276 Long EC CORP SE N 1 N N N L'Oreal SA 529900JI1GG6F7RKVI53 L'Oreal SA N/A 2569.00000000 NS 1062464.69000000 2.775478930728 Long EC CORP FR N 1 N N N Merck KGaA 529900OAREIS0MOPTW25 Merck KGaA N/A 3156.00000000 NS 686357.31000000 1.792972764917 Long EC CORP DE N 1 N N N 2021-10-29 OSI ETF Trust Joshua Hunter Joshua Hunter Principal Financial Officer and Treasurer XXXX NPORT-EX 2 osi-nportex_093021.htm osi-nportex_093021

1

OSI ETF Trust

O’Shares U.S. Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

COMMON STOCKS - 100.0%

 

​

​

​

Aerospace & Defense - 4.2%

General Dynamics Corp.

10,049

​

$1,969,906​

L3Harris Technologies, Inc.

10,479

​

2,307,895

Lockheed Martin Corp.

53,121

​

18,332,057

Northrop Grumman Corp.

18,608

​

6,701,671

 

​

​

29,311,529

Air Freight & Logistics - 1.6%

Expeditors International of
Washington, Inc.

19,254

​

2,293,729

United Parcel Service, Inc., Class B

47,420

​

8,635,182

 

​

​

10,928,911

Banks - 0.4%

JPMorgan Chase & Co.

14,802

​

2,422,939

 

​

​

​

Beverages - 3.1%

Coca-Cola Co. (The)

208,644

​

10,947,551

PepsiCo, Inc.

70,671

​

10,629,625

 

​

​

21,577,176

Biotechnology - 3.5%

AbbVie, Inc.

46,679

​

5,035,264

Amgen, Inc.

55,697

​

11,843,967

Gilead Sciences, Inc.

107,069

​

7,478,769

 

​

​

24,358,000

Building Products - 0.3%

Trane Technologies plc

11,599

​

2,002,567

 

​

​

​

Capital Markets - 5.1%

BlackRock, Inc.

1,770

​

1,484,428

Blackstone, Inc.

96,332

​

11,207,265

Moody’s Corp.

7,243

​

2,572,062

MSCI, Inc.

2,152

​

1,309,148

S&P Global, Inc.

21,960

​

9,330,584

T. Rowe Price Group, Inc.

47,524

​

9,347,971

 

​

​

35,251,458

Commercial Services & Supplies - 0.9%

Cintas Corp.

8,299

​

3,159,097

Waste Management, Inc.

18,750

​

2,800,500

 

​

​

5,959,597

Communications Equipment - 2.5%

Cisco Systems, Inc.

296,007

​

16,111,661

Motorola Solutions, Inc.

4,752

​

1,103,985

 

​

​

17,215,646

Diversified Telecommunication Services - 4.7%

Verizon Communications, Inc.

598,945

​

32,349,020

 

​

​

​

Electrical Equipment - 0.5%

Emerson Electric Co.

19,510

​

1,837,842

Rockwell Automation, Inc.

5,683

​

1,671,029

 

​

​

3,508,871

Investments

Shares

 

Value ($)

Electronic Equipment, Instruments & Components - 0.2%

Amphenol Corp., Class A

12,357

​

$904,903​

TE Connectivity Ltd.

5,728

​

785,996

 

​

​

1,690,899

Entertainment - 0.4%

Activision Blizzard, Inc.

36,966

​

2,860,799

 

​

​

​

Food & Staples Retailing - 1.7%

Costco Wholesale Corp.

15,139

​

6,802,710

Walmart, Inc.

33,293

​

4,640,378

 

​

​

11,443,088

Food Products - 1.4%

Archer-Daniels-Midland Co.

12,318

​

739,203

General Mills, Inc.

26,895

​

1,608,859

Hershey Co. (The)

12,648

​

2,140,674

Hormel Foods Corp.

34,629

​

1,419,789

Mondelez International, Inc., Class A

69,859

​

4,064,397

 

​

​

9,972,922

Health Care Equipment & Supplies - 3.2%

Abbott Laboratories

119,605

​

14,128,939

Baxter International, Inc.

13,638

​

1,096,904

Becton Dickinson and Co.

4,184

​

1,028,511

Medtronic plc

38,610

​

4,839,764

Stryker Corp.

4,213

​

1,111,052

 

​

​

22,205,170

Health Care Providers & Services - 2.3%

Quest Diagnostics, Inc.

13,691

​

1,989,439

UnitedHealth Group, Inc.

36,435

​

14,236,612

 

​

​

16,226,051

Health Care Technology - 0.2%

Cerner Corp.

20,176

​

1,422,812

 

​

​

​

Hotels, Restaurants & Leisure - 4.7%

McDonald’s Corp.

85,052

​

20,506,888

Starbucks Corp.

85,205

​

9,398,963

Yum! Brands, Inc.

22,899

​

2,800,777

 

​

​

32,706,628

Household Durables - 0.4%

Garmin Ltd.

17,451

​

2,712,933

 

​

​

​

Household Products - 6.5%

Church & Dwight Co., Inc.

15,042

​

1,242,018

Clorox Co. (The)

10,649

​

1,763,581

Colgate-Palmolive Co.

85,695

​

6,476,828

Kimberly-Clark Corp.

25,415

​

3,365,962

Procter & Gamble Co. (The)

232,456

​

32,497,349

 

​

​

45,345,738

Industrial Conglomerates - 3.6%

3M Co.

87,089

​

15,277,152

Honeywell International, Inc.

45,373

​

9,631,781

 

​

​

24,908,933

​

2

OSI ETF Trust

O’Shares U.S. Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

Insurance - 1.8%

​

​

​

Allstate Corp. (The)

36,001

​

$4,583,288​

Aon plc, Class A

6,252

​

1,786,634

Chubb Ltd.

13,069

​

2,267,210

Marsh & McLennan Cos., Inc.

25,503

​

3,861,919

 

​

​

12,499,051

Internet & Direct Marketing Retail - 0.2%

eBay, Inc.

21,336

​

1,486,479

 

​

​

​

IT Services - 4.3%

Accenture plc, Class A

32,745

​

10,475,780

Automatic Data Processing, Inc.

8,144

​

1,628,149

Broadridge Financial Solutions, Inc.

3,015

​

502,420

Cognizant Technology Solutions Corp., Class A

15,264

​

1,132,741

International Business Machines Corp.

7,711

​

1,071,289

Mastercard, Inc., Class A

9,453

​

3,286,619

Paychex, Inc.

14,455

​

1,625,465

Visa, Inc., Class A

45,732

​

10,186,803

 

​

​

29,909,266

Life Sciences Tools & Services - 0.4%

Agilent Technologies, Inc.

6,137

​

966,762

Thermo Fisher Scientific, Inc.

2,831

​

1,617,435

 

​

​

2,584,197

Machinery - 1.8%

Cummins, Inc.

8,929

​

2,005,096

Illinois Tool Works, Inc.

51,951

​

10,734,635

 

​

​

12,739,731

Media - 2.9%

Comcast Corp., Class A

363,310

​

20,319,928

 

​

​

​

Multiline Retail - 1.0%

Dollar General Corp.

12,371

​

2,624,384

Target Corp.

20,285

​

4,640,599

 

​

​

7,264,983

Personal Products - 0.3%

Estee Lauder Cos., Inc. (The), Class A

7,538

​

2,260,872

 

​

​

​

Pharmaceuticals - 12.0%

Eli Lilly and Co.

55,311

​

12,779,607

Johnson & Johnson

215,669

​

34,830,543

Merck & Co., Inc.

151,998

​

11,416,570

Pfizer, Inc.

519,271

​

22,333,846

Zoetis, Inc.

10,995

​

2,134,569

 

​

​

83,495,135

Road & Rail - 1.7%

CSX Corp.

57,271

​

1,703,239

Norfolk Southern Corp.

9,144

​

2,187,702

Union Pacific Corp.

39,873

​

7,815,507

 

​

​

11,706,448

Investments

Shares

 

Value ($)

Semiconductors & Semiconductor Equipment - 3.4%

Analog Devices, Inc.

7,881

​

$1,319,910​

Broadcom, Inc.

1,852

​

898,090

Intel Corp.

83,082

​

4,426,609

QUALCOMM, Inc.

5,084

​

655,734

Texas Instruments, Inc.

85,470

​

16,428,189

 

​

​

23,728,532

Software - 6.0%

Intuit, Inc.

1,663

​

897,205

Microsoft Corp.

121,942

​

34,377,889

Oracle Corp.

75,177

​

6,550,172

 

​

​

41,825,266

Specialty Retail - 6.3%

Home Depot, Inc. (The)

109,255

​

35,864,046

Lowe’s Cos., Inc.

27,108

​

5,499,129

TJX Cos., Inc. (The)

41,093

​

2,711,316

 

​

​

44,074,491

Technology Hardware, Storage & Peripherals - 3.3%

Apple, Inc.

161,385

​

22,835,978

 

​

​

​

Textiles, Apparel & Luxury Goods - 0.8%

NIKE, Inc., Class B

36,866

​

5,354,049

 

​

​

​

Tobacco - 1.9%

Altria Group, Inc.

94,562

​

4,304,462

Philip Morris International, Inc.

95,230

​

9,026,852

 

​

​

13,331,314

Trading Companies & Distributors - 0.5%

Fastenal Co.

64,111

​

3,308,769

 

​

​

​

TOTAL COMMON STOCKS
(COST $598,719,928)

​

695,106,176

Total Investments - 100.0%
(Cost $598,719,928)

​

695,106,176

Other assets less liabilities - 0.0%(1)

​

232,558

Net Assets - 100.0%

​

$695,338,734

(1)Represents less than 0.05% of net assets.


​

3

OSI ETF Trust

O’Shares U.S. Small-Cap Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

COMMON STOCKS - 100.0%

​

​

​

 

​

​

​

Auto Components - 4.0%

BorgWarner, Inc.

37,349

​

$1,613,850​

Gentex Corp.

98,533

​

3,249,618

Lear Corp.

3,068

​

480,081

Standard Motor Products, Inc.

14,474

​

632,659

 

​

​

5,976,208

Building Products - 2.1%

A O Smith Corp.

43,324

​

2,645,797

Simpson Manufacturing Co., Inc.

4,721

​

505,005

 

​

​

3,150,802

Capital Markets - 14.9%

Artisan Partners Asset Management, Inc., Class A

28,685

​

1,403,270

Carlyle Group, Inc. (The)

62,598

​

2,959,633

Cboe Global Markets, Inc.

24,734

​

3,063,553

Cohen & Steers, Inc.

9,920

​

830,998

Evercore, Inc., Class A

9,937

​

1,328,279

Hamilton Lane, Inc., Class A

8,883

​

753,456

Houlihan Lokey, Inc.

34,140

​

3,144,294

Lazard Ltd., Class A

43,246

​

1,980,667

LPL Financial Holdings, Inc.

3,294

​

516,368

Moelis & Co., Class A

33,435

​

2,068,624

Morningstar, Inc.

4,133

​

1,070,571

SEI Investments Co.

51,109

​

3,030,764

 

​

​

22,150,477

Commercial Services & Supplies - 1.5%

Brady Corp., Class A

21,693

​

1,099,835

Ennis, Inc.

19,368

​

365,087

Healthcare Services Group, Inc.

13,103

​

327,444

UniFirst Corp.

1,818

​

386,543

 

​

​

2,178,909

Communications Equipment - 2.0%

Juniper Networks, Inc.

109,247

​

3,006,477

 

​

​

​

Consumer Finance - 0.3%

OneMain Holdings, Inc.

7,899

​

437,052

 

​

​

​

Diversified Consumer Services - 3.6%

Graham Holdings Co., Class B

1,233

​

726,434

H&R Block, Inc.

67,180

​

1,679,500

Service Corp. International

49,220

​

2,965,997

 

​

​

5,371,931

Electric Utilities - 2.6%

ALLETE, Inc.

4,476

​

266,411

Hawaiian Electric Industries, Inc.

7,857

​

320,801

IDACORP, Inc.

6,139

​

634,650

MGE Energy, Inc.

4,626

​

340,011

NRG Energy, Inc.

8,809

​

359,671

OGE Energy Corp.

19,028

​

627,163

Otter Tail Corp.

5,374

​

300,783

Pinnacle West Capital Corp.

11,030

​

798,131

PNM Resources, Inc.

4,987

​

246,757

 

​

​

3,894,378

Investments

Shares

 

Value ($)

Electronic Equipment, Instruments & Components - 2.3%

Avnet, Inc.

23,184

​

$857,112​

Littelfuse, Inc.

3,266

​

892,500

National Instruments Corp.

26,946

​

1,057,092

Vishay Intertechnology, Inc.

30,532

​

613,388

 

​

​

3,420,092

Food & Staples Retailing - 0.6%

Casey’s General Stores, Inc.

3,457

​

651,471

Weis Markets, Inc.

5,796

​

304,580

 

​

​

956,051

Food Products - 6.6%

Bunge Ltd.

35,738

​

2,906,214

Flowers Foods, Inc.

81,064

​

1,915,542

Ingredion, Inc.

18,648

​

1,659,858

J & J Snack Foods Corp.

2,278

​

348,124

Lamb Weston Holdings, Inc.

14,824

​

909,749

Lancaster Colony Corp.

10,392

​

1,754,274

Tootsie Roll Industries, Inc.

13,513

​

411,201

 

​

​

9,904,962

Gas Utilities - 2.4%

National Fuel Gas Co.

8,763

​

460,233

New Jersey Resources Corp.

6,096

​

212,202

ONE Gas, Inc.

4,730

​

299,740

Southwest Gas Holdings, Inc.

4,243

​

283,772

Spire, Inc.

5,278

​

322,908

UGI Corp.

45,402

​

1,935,033

 

​

​

3,513,888

Health Care Equipment & Supplies - 0.7%

Hill-Rom Holdings, Inc.

6,765

​

1,014,750

 

​

​

​

Health Care Providers & Services - 6.4%

Chemed Corp.

2,945

​

1,369,779

Encompass Health Corp.

38,433

​

2,884,012

National HealthCare Corp.

31,553

​

2,208,079

Premier, Inc., Class A

79,191

​

3,069,443

 

​

​

9,531,313

Household Durables - 2.3%

Leggett & Platt, Inc.

28,764

​

1,289,778

MDC Holdings, Inc.

9,488

​

443,279

Whirlpool Corp.

8,224

​

1,676,545

 

​

​

3,409,602

Household Products - 1.0%

Reynolds Consumer Products, Inc.

26,052

​

712,261

WD-40 Co.

3,139

​

726,616

 

​

​

1,438,877

Insurance - 7.3%

Erie Indemnity Co., Class A

17,478

​

3,118,425

Mercury General Corp.

24,207

​

1,347,604

Old Republic International Corp.

121,223

​

2,803,888

RLI Corp.

13,078

​

1,311,331

Safety Insurance Group, Inc.

17,692

​

1,402,091

Stewart Information Services Corp.

14,068

​

889,941

 

​

​

10,873,280

​

4

OSI ETF Trust

O’Shares U.S. Small-Cap Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

IT Services - 9.5%

Amdocs Ltd.

39,529

​

$2,992,740​

CSG Systems International, Inc.

14,734

​

710,179

Genpact Ltd.

32,490

​

1,543,600

Jack Henry & Associates, Inc.

17,951

​

2,945,041

Maximus, Inc.

36,494

​

3,036,301

Western Union Co. (The)

144,194

​

2,915,603

 

​

​

14,143,464

Leisure Products - 1.2%

Acushnet Holdings Corp.

10,681

​

498,803

Polaris, Inc.

4,820

​

576,761

Sturm Ruger & Co., Inc.

10,157

​

749,383

 

​

​

1,824,947

Life Sciences Tools & Services - 0.7%

Bio-Techne Corp.

2,052

​

994,338

 

​

​

​

Machinery - 9.9%

Donaldson Co., Inc.

35,140

​

2,017,387

Franklin Electric Co., Inc.

7,523

​

600,712

Graco, Inc.

39,812

​

2,785,646

ITT, Inc.

6,113

​

524,740

Lincoln Electric Holdings, Inc.

19,935

​

2,567,429

Oshkosh Corp.

5,493

​

562,318

Snap-on, Inc.

13,955

​

2,915,897

Toro Co. (The)

28,742

​

2,799,758

 

​

​

14,773,887

Media - 4.3%

Cable One, Inc.

461

​

835,853

Interpublic Group of Cos., Inc. (The)

83,494

​

3,061,725

John Wiley & Sons, Inc., Class A

17,109

​

893,261

New York Times Co. (The), Class A

9,726

​

479,200

News Corp., Class A

51,770

​

1,218,148

 

​

​

6,488,187

Multi-Utilities - 0.9%

Black Hills Corp.

3,909

​

245,329

MDU Resources Group, Inc.

28,317

​

840,165

NorthWestern Corp.

3,943

​

225,934

 

​

​

1,311,428

Professional Services - 2.6%

Exponent, Inc.

9,081

​

1,027,515

Robert Half International, Inc.

28,787

​

2,888,200

 

​

​

3,915,715

Road & Rail - 1.5%

Landstar System, Inc.

6,029

​

951,497

Schneider National, Inc., Class B

33,603

​

764,132

Werner Enterprises, Inc.

11,518

​

509,902

 

​

​

2,225,531

Semiconductors & Semiconductor Equipment - 1.4%

Monolithic Power Systems, Inc.

3,351

​

1,624,163

Power Integrations, Inc.

4,907

​

485,744

 

​

​

2,109,907

Investments

Shares

 

Value ($)

Software - 3.2%

CDK Global, Inc.

31,168

​

$1,326,198​

Dolby Laboratories, Inc., Class A

32,467

​

2,857,096

Progress Software Corp.

11,758

​

578,376

 

​

​

4,761,670

Specialty Retail - 0.3%

Murphy USA, Inc.

3,043

​

508,972

 

​

​

​

Textiles, Apparel & Luxury Goods - 0.8%

Carter’s, Inc.

6,232

​

606,000

Columbia Sportswear Co.

5,482

​

525,395

 

​

​

1,131,395

Thrifts & Mortgage Finance - 0.3%

MGIC Investment Corp.

29,442

​

440,452

 

​

​

​

Tobacco - 0.3%

Vector Group Ltd.

30,558

​

389,615

 

​

​

​

Trading Companies & Distributors - 1.9%

Watsco, Inc.

10,883

​

2,879,859

 

​

​

​

Water Utilities - 0.6%

American States Water Co.

3,910

​

334,383

Essential Utilities, Inc.

11,360

​

523,469

 

​

​

857,852

TOTAL COMMON STOCKS
(COST $132,225,105)

​

148,986,268

Total Investments - 100.0%
(Cost $132,225,105)

​

148,986,268

Other assets less liabilities - 0.0%(1)

​

46,339

Net Assets - 100.0%

​

$149,032,607

(1)Represents less than 0.05% of net assets.


​

5

OSI ETF Trust

O’Shares Global Internet Giants ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

COMMON STOCKS - 99.2%

​

​

​

 

​

​

​

Entertainment - 12.2%

Activision Blizzard, Inc.

23,858

​

$1,846,371​

Bilibili, Inc., ADR*

101,636

​

6,725,254

CTS Eventim AG & Co. KGaA*

125,397

​

9,489,974

Electronic Arts, Inc.

24,996

​

3,555,681

Live Nation Entertainment, Inc.*

102,913

​

9,378,462

NetEase, Inc., ADR

38,000

​

3,245,200

Netflix, Inc.*

9,479

​

5,785,413

ROBLOX Corp., Class A*

116,065

​

8,768,711

Roku, Inc.*

23,790

​

7,454,596

Sea Ltd., ADR*

45,832

​

14,608,033

Spotify Technology SA*

14,765

​

3,327,145

 

​

​

74,184,840

Food & Staples Retailing - 0.4%

Ocado Group plc*

103,634

​

2,323,093

 

​

​

​

Hotels, Restaurants & Leisure - 1.3%

Trip.com Group Ltd., ADR*

261,449

​

8,039,557

 

​

​

​

Interactive Media & Services - 19.7%

Adevinta ASA*

446,453

​

7,671,673

Alphabet, Inc., Class A*

11,745

​

31,400,493

Baidu, Inc., ADR*

19,947

​

3,066,851

Facebook, Inc., Class A*

59,500

​

20,193,705

Match Group, Inc.*

27,500

​

4,317,225

Pinterest, Inc., Class A*

118,640

​

6,044,708

Snap, Inc., Class A*

165,830

​

12,249,862

Tencent Holdings Ltd.

210,617

​

12,483,372

Twitter, Inc.*

77,247

​

4,664,946

Z Holdings Corp.

377,677

​

2,429,387

Zillow Group, Inc., Class C*

97,630

​

8,605,108

ZoomInfo Technologies, Inc., Class A*

100,765

​

6,165,810

 

​

​

119,293,140

Internet & Direct Marketing Retail - 18.4%

Alibaba Group Holding Ltd., ADR*

74,989

​

11,102,121

Amazon.com, Inc.*

8,245

​

27,085,155

Chewy, Inc., Class A*

52,879

​

3,601,589

Delivery Hero SE*

61,693

​

7,897,076

Etsy, Inc.*

16,266

​

3,382,677

Farfetch Ltd., Class A*

125,566

​

4,706,214

HelloFresh SE*

26,836

​

2,486,882

JD.com, Inc., ADR*

77,937

​

5,630,169

Just Eat Takeaway.com NV*

82,076

​

5,996,490

Meituan, Class B*

389,566

​

12,340,565

MercadoLibre, Inc.*

4,897

​

8,224,022

Pinduoduo, Inc., ADR*

113,889

​

10,326,316

THG plc*

571,929

​

3,909,784

Wayfair, Inc., Class A*

9,046

​

2,311,343

Zalando SE*

28,709

​

2,639,158

 

​

​

111,639,561

Investments

Shares

 

Value ($)

IT Services - 9.2%

Cloudflare, Inc., Class A*

53,465

​

$6,022,832​

Kingsoft Cloud Holdings Ltd., ADR*

243,672

​

6,900,791

MongoDB, Inc.*

13,733

​

6,475,247

Okta, Inc.*

28,896

​

6,858,177

Shopify, Inc., Class A*

8,380

​

11,372,351

Snowflake, Inc., Class A*

38,167

​

11,542,846

Twilio, Inc., Class A*

20,185

​

6,440,024

 

​

​

55,612,268

Software - 38.0%

Adobe, Inc.*

10,445

​

6,013,395

Asana, Inc., Class A*

65,872

​

6,840,148

Atlassian Corp. plc, Class A*

14,735

​

5,767,574

Avalara, Inc.*

22,231

​

3,885,312

Bill.com Holdings, Inc.*

31,630

​

8,443,628

Ceridian HCM Holding, Inc.*

29,745

​

3,349,882

Coupa Software, Inc.*

18,310

​

4,013,186

Crowdstrike Holdings, Inc., Class A*

30,239

​

7,432,141

Datadog, Inc., Class A*

57,799

​

8,169,889

Digital Turbine, Inc.*

130,028

​

8,939,425

DocuSign, Inc.*

25,078

​

6,455,830

Dynatrace, Inc.*

66,610

​

4,727,312

Elastic NV*

28,703

​

4,276,460

Fortinet, Inc.*

11,647

​

3,401,390

HubSpot, Inc.*

8,493

​

5,742,032

Intuit, Inc.

6,868

​

3,705,355

Kingdee International Software
Group Co. Ltd.*

1,289,215

​

4,314,138

Lightspeed Commerce, Inc.*

70,664

​

6,817,345

Microsoft Corp.

93,112

​

26,250,135

Oracle Corp.

30,454

​

2,653,457

Palantir Technologies, Inc., Class A*

224,565

​

5,398,543

Palo Alto Networks, Inc.*

8,494

​

4,068,626

Paycom Software, Inc.*

9,096

​

4,509,342

Paylocity Holding Corp.*

14,560

​

4,082,624

RingCentral, Inc., Class A*

18,630

​

4,052,025

salesforce.com, Inc.*

28,131

​

7,629,690

SAP SE

15,249

​

2,065,600

ServiceNow, Inc.*

10,643

​

6,622,820

Sinch AB*

332,651

​

6,505,831

Smartsheet, Inc., Class A*

74,623

​

5,135,555

Splunk, Inc.*

21,039

​

3,044,554

Trade Desk, Inc. (The), Class A*

73,532

​

5,169,300

Tyler Technologies, Inc.*

8,376

​

3,841,652

UiPath, Inc., Class A*

127,494

​

6,707,459

Unity Software, Inc.*

39,482

​

4,984,602

VMware, Inc., Class A*

13,400

​

1,992,580

Workday, Inc., Class A*

14,353

​

3,586,671

Xero Ltd.*

50,281

​

5,048,547

Zendesk, Inc.*

36,737

​

4,275,819

Zoom Video Communications, Inc.,
Class A*

14,332

​

3,747,818

Zscaler, Inc.*

26,952

​

7,067,353

 

​

​

230,735,045

​

6

OSI ETF Trust

O’Shares Global Internet Giants ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

TOTAL COMMON STOCKS
(COST $530,311,045)

​

$601,827,504

Total Investments - 99.2%
(Cost $530,311,045)

​

601,827,504

Other assets less liabilities - 0.8%

​

4,863,022

Net Assets - 100.0%

​

$606,690,526

*Non-income producing security.

Abbreviations
ADR  American Depositary Receipt

O’Shares Global Internet Giants ETF invested, as a percentage of net assets, in the following countries as of September 30, 2021:

Argentina

​

1.4%

​

Canada

​

3.0%

​

China

​

13.9%

​

France

​

1.3%

​

Germany

​

2.7%

​

Japan

​

0.4%

​

New Zealand

​

0.8%

​

Saudi Arabia

​

1.3%

​

Sweden

​

1.1%

​

Taiwan

​

2.4%

​

United Kingdom

​

2.8%

​

United States

​

68.1%

​

Other(1)

​

0.8%

​

 

​

100.0%

​

(1)Includes cash and any non-equity securities and net other assets (liabilities).

​

7

OSI ETF Trust

O’Shares Europe Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

COMMON STOCKS - 99.7%

​

​

​

 

​

​

​

Air Freight & Logistics - 2.5%

Deutsche Post AG (Registered)

15,172

​

$957,954​

 

​

​

​

Auto Components - 1.5%

Cie Generale des Etablissements
Michelin SCA

3,709

​

570,847

 

​

​

​

Beverages - 3.5%

Carlsberg A/S, Class B

3,462

​

566,289

Diageo plc

15,916

​

773,860

 

​

​

1,340,149

Building Products - 2.8%

Assa Abloy AB, Class B

18,993

​

555,122

Geberit AG (Registered)

725

​

535,482

 

​

​

1,090,604

Capital Markets - 2.9%

3i Group plc

32,096

​

554,590

Partners Group Holding AG

366

​

575,376

 

​

​

1,129,966

Diversified Financial Services - 2.8%

Industrivarden AB, Class C

16,894

​

525,249

Investor AB, Class B

24,566

​

531,107

 

​

​

1,056,356

Diversified Telecommunication Services - 1.5%

Swisscom AG (Registered)

981

​

565,138

 

​

​

​

Electric Utilities - 2.9%

Iberdrola SA

57,388

​

577,571

Orsted A/S

4,064

​

537,636

 

​

​

1,115,207

Electrical Equipment - 5.0%

ABB Ltd. (Registered)

18,561

​

624,570

Legrand SA

5,332

​

573,212

Schneider Electric SE

4,245

​

707,951

 

​

​

1,905,733

Electronic Equipment, Instruments & Components - 1.5%

Hexagon AB, Class B

35,866

​

557,348

 

​

​

​

Food Products - 6.7%

Danone SA

9,138

​

625,368

Nestle SA (Registered)

15,966

​

1,928,894

 

​

​

2,554,262

Health Care Equipment & Supplies - 2.8%

Coloplast A/S, Class B

3,369

​

528,499

Siemens Healthineers AG(

8,644

​

562,809

 

​

​

1,091,308

Household Products - 3.0%

Essity AB, Class B

18,553

​

576,829

Henkel AG & Co. KGaA

6,646

​

574,212

 

​

​

1,151,041

Investments

Shares

 

Value ($)

Industrial Conglomerates - 2.1%

Siemens AG (Registered)

4,862

​

$799,693​

 

​

​

​

Insurance - 1.3%

Admiral Group plc

11,727

​

491,440

 

​

​

​

Machinery - 5.2%

Atlas Copco AB, Class A

9,950

​

605,288

Kone OYJ, Class B

11,986

​

844,305

Schindler Holding AG

1,962

​

528,332

 

​

​

1,977,925

Marine - 1.4%

Kuehne + Nagel International AG (Registered)

1,555

​

532,419

 

​

​

​

Personal Products - 6.1%

L’Oreal SA

2,569

​

1,062,465

Unilever plc

23,494

​

1,268,709

 

​

​

2,331,174

Pharmaceuticals - 20.0%

AstraZeneca plc

8,190

​

989,231

GlaxoSmithKline plc

38,352

​

725,828

Merck KGaA

3,156

​

686,357

Novartis AG (Registered)

12,270

​

1,010,563

Novo Nordisk A/S, Class B

15,612

​

1,512,024

Roche Holding AG

5,380

​

1,972,119

Sanofi

8,064

​

776,447

 

​

​

7,672,569

Professional Services - 5.3%

RELX plc

22,275

​

644,841

SGS SA (Registered)

187

​

546,456

Wolters Kluwer NV

8,029

​

852,171

 

​

​

2,043,468

Semiconductors & Semiconductor Equipment - 2.7%

ASML Holding NV

1,368

​

1,024,038

 

​

​

​

Software - 3.3%

SAP SE

9,322

​

1,262,740

 

​

​

​

Specialty Retail - 1.7%

Industria de Diseno Textil SA

18,053

​

665,755

 

​

​

​

Textiles, Apparel & Luxury Goods - 8.4%

EssilorLuxottica SA

3,358

​

644,085

Hermes International

431

​

597,661

Kering SA

821

​

586,123

LVMH Moet Hennessy Louis Vuitton SE

1,937

​

1,392,054

 

​

​

3,219,923

Tobacco - 1.4%

Swedish Match AB

61,336

​

537,462

​

8

OSI ETF Trust

O’Shares Europe Quality Dividend ETF

Schedule of Investments

September 30, 2021 (unaudited)

See accompanying notes to the financial statements.

Investments

Shares

 

Value ($)

Trading Companies & Distributors - 1.4%

Bunzl plc

15,899

​

$526,289​

 

​

​

​

TOTAL COMMON STOCKS
(COST $36,184,255)

​

38,170,808

Total Investments - 99.7%
(Cost $36,184,255)

​

38,170,808

Other assets less liabilities - 0.3%

​

109,601

Net Assets - 100.0%

​

$38,280,409​

Abbreviations
OYJ  Public Limited Company

SCA  Limited partnership with share capital

O’Shares Europe Quality Dividend ETF invested, as a percentage of net assets, in the following countries as of September 30, 2021:

Denmark

​

8.2%

​

Finland

​

2.2%

​

France

​

17.8%

​

Germany

​

12.7%

​

Netherlands

​

4.9%

​

Spain

​

3.2%

​

Sweden

​

10.2%

​

Switzerland

​

23.0%

​

United Kingdom

​

15.6%

​

United States

​

1.9%

​

Other(1)

​

0.3%

​

 

​

100.0%

​

(1)Includes cash and any non-equity securities and net other assets (liabilities).

​

9

OSI ETF Trust

Notes to Quarterly Schedules of Investments

September 30, 2021 (unaudited)

Investment Valuation

The Funds disclose the fair market value of their investments in a hierarchy that distinguishes between:

(1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds’ own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

•Level 1 — Quoted prices in active markets for identical assets.

•Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

•Level 3 — Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of September 30, 2021 for each Fund based upon the three levels defined above:

 

Level 1 —
Quoted Prices

Level 2 —
Other Significant
Observable Inputs

Level 3 —Significant
Unobservable
Inputs

Total

O’Shares U.S. Quality Dividend ETF
Investments

​

​

​

​

Common Stocks*

$695,106,176​

$—​

$—​

$695,106,176​

Total Investments

$695,106,176​

$—​

$—​

$695,106,176​

 

​

​

​

​

O’Shares U.S. Small-Cap Quality Dividend ETF
Investments

​

​

​

​

Common Stocks*

$148,986,268​

$—​

$—​

$148,986,268​

Total Investments

$148,986,268​

$—​

$—​

$148,986,268​

 

​

​

​

​

O’Shares Global Internet Giants ETF
Investments

​

​

​

​

Common Stocks*

$601,827,504​

$—​

$—​

$601,827,504​

Total Investments

$601,827,504​

$—​

$—​

$601,827,504​

 

​

​

​

​

O’Shares Europe Quality Dividend ETF
Investments

​

​

​

​

Common Stocks*

$38,170,808​

$—​

$—​

$38,170,808​

Total Investments

$38,170,808​

$—​

$—​

$38,170,808​

*See Schedules of Investments for segregation by industry type.