NPORT-EX 2 otgl.htm NPORT-EX

OTG LATIN AMERICA ETF
  
Schedule of Investments
  
December 31, 2025 (unaudited)
  

          
Shares
    
Value
  
 
97.21
%
  
COMMON STOCKS
            
 
2.04
%
  
ARGENTINA
            
       
YPF SA(A)
    
12,955
    
$
468,453
  
                         
 
43.22
%
  
BRAZIL
                
       
Ambev SA(A)
    
277,850
      
686,290
  
       
Banco Bradesco SA
    
136,801
      
455,547
  
       
Gerdau SA
    
150,552
      
555,537
  
       
Inter & Co., Inc.
    
51,971
      
440,714
  
       
Itau Unibanco Holding SA
    
31,404
      
224,853
  
       
JBS NV(A)
    
38,479
      
554,867
  
       
Lojas Renner SA(A)
    
268,377
      
662,157
  
       
MercadoLibre, Inc.(A)
    
221
      
445,152
  
       
Nu Holdings Ltd.(A)
    
56,547
      
946,597
  
       
Petroleo Brasileiro SA
    
66,794
      
791,509
  
       
Raia Drogasil SA(A)
    
102,315
      
438,779
  
       
Rede D'Or Sao Luiz SA 144A
    
67,933
      
506,793
  
       
Rumo SA
    
87,778
      
236,275
  
       
Sendas Distribuidora SA
    
187,442
      
249,706
  
       
Suzano SA
    
63,396
      
592,119
  
       
TOTVS SA(A)
    
71,168
      
546,512
  
       
Vale SA
    
69,788
      
909,338
  
       
XP, Inc.
    
40,146
      
657,190
  
                     
9,899,935
  
                         
 
11.45
%
  
CHILE
                
       
Aguas Andinas SA Class A
    
602,504
      
246,796
  
       
Banco de Crédito e Inversiones(A)
    
62
      
4,019
  
       
Banco Itau Chile SA
    
43,073
      
953,895
  
       
Banco Santander Chile(A)
    
4,969,236
      
392,204
  
       
Cencosud SA
    
152,948
      
491,524
  
       
SMU SA
    
3,127,521
      
534,273
  
                     
2,622,711
  
                         
 
1.59
%
  
COLOMBIA
                
       
Grupo Energia Bogota S.A. E.S.P.
    
461,294
      
363,895
  


OTG LATIN AMERICA ETF
  
Schedule of Investments
  
December 31, 2025 (unaudited)
  

            
Shares
    
Value
  
 
24.75
%
  
MEXICO
                
       
Alsea  S.A.B. de C.V.
    
66,562
    
$
199,751
  
       
America Movil S.A.B. de C.V.
    
15,842
      
327,454
  
       
America Movil S.A.B. de C.V.
    
410,199
      
423,468
  
       
Arca Continental S.A.B. de C.V.
    
34,420
      
371,772
  
       
Cemex S.A.B. de C.V.
    
100,692
      
1,156,951
  
       
Coca-Cola FEMSA S.A.B. de C.V.
    
21,306
      
202,346
  
       
Fomento Economico Mexicano SAB
    
4,485
      
453,299
  
       
Genomma Lab Internacional S.A.B. de C.V.
    
327,059
      
325,288
  
       
GCC S.A.B. de C.V.
    
38,725
      
392,594
  
       
Grupo Financiero Banorte S.A.B. de C.V.
    
18,748
      
173,701
  
       
Grupo Traxion S.A.B. de C.V. 144A(A)
    
658,123
      
555,517
  
       
Kimberly-Clark de México S.A.B. de C.V.
    
164,363
      
350,586
  
       
Walmart de Mexico S.A.B. de C.V.
    
236,954
      
737,015
  
                     
5,669,742
  
                         
 
13.73
%
  
PERU
                
       
Alicorp S.A.A.(A)
    
79,151
      
251,976
  
       
Cementos Pacasmayo S.A.A.
    
161,514
      
338,780
  
       
Ferreycorp S.A.A.
    
485,232
      
563,031
  
       
InRetail Peru Corp. 144A
    
11,557
      
291,236
  
       
Intercorp Financial Services, Inc.
    
14,494
      
613,966
  
       
Minsur SA(A)
    
170,219
      
275,502
  
       
Southern Copper Corp.
    
5,650
      
810,584
  
                     
3,145,075
  
                         
 
0.43
%
  
UNITED STATES
                
       
Tecnoglass, Inc.
    
1,967
      
98,980
  
                         
                         
                         
 
97.21
%
  
TOTAL COMMON STOCKS
            
22,268,791
  
       
(Cost: $18,483,074)
                


OTG LATIN AMERICA ETF
  
Schedule of Investments
  
December 31, 2025 (unaudited)
  

            
Principle
    
Value
  
 
1.67
%
  
CORPORATE BONDS
                
 
0.72
%
  
FRANCE
                
       
BNP Paribas SA 05/20/2027 0.000%(B)
    
200,000
    
$
165,660
  
                         
 
0.95
%
  
PERU
                
       
Peru LNG 03/22/2030 5.375%
    
225,030
      
218,094
  
                         
 
1.67
%
  
TOTAL CORPORATE BONDS
            
383,754
  
       
(Cost: $420,175)
                
                         
 
98.87
%
  
TOTAL INVESTMENTS
            
22,652,545
  
       
(Cost: $18,903,249)
                
 
1.13
%
  
Other assets, net of liabilities
            
255,907
  
 
100.00
%
  
NET ASSETS
          
$
22,908,452
  
                         
                         
       
(A)Non-income producing.
                
       
(B)Zero coupon security. The rate shown is the yield-to-maturity on the date of December 31, 2025.
  
       
See Notes to Schedule of Investments.
                
                         
       
A 144A Security is exempt from the registration requirements for resales of restricted securities to qualified institutional buyers. The aggregate amount of these securities is $1,353,547 and is 5.91% of the Fund's net assets.
  


 
In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the
  
 
principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier
  
 
hierarchy of inputs to establish a classification of fair value measurements for  disclosure purposes. Level 1 includes quoted prices in active markets for identical
    
 
securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
    
 
Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining 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 summarizes the inputs used to value the Fund’s investments as of December 31, 2025:

     
Level 1
    
Level 2
    
Level 3
        
           
Other
    
Significant
        
           
Significant
    
Unobservable
        
     
Quoted Prices
    
Observable Inputs
    
Inputs
    
Total
  
 
COMMON STOCKS
  
$
22,268,791
    
$
-
    
$
-
    
$
22,268,791
  
 
CORPORATE BONDS
    
-
      
383,754
      
-
      
383,754
  
 
TOTAL INVESTMENTS
  
$
22,268,791
    
$
383,754
    
$
-
    
$
22,652,545
  
                                   
                                   
                                   
                                   
 
The cost of investments for Federal income tax purposes has been estimated a/o December 31, 2025 since
  
 
the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income
  
 
tax purpose is $18,903,249, and the related net unrealized appreciation (depreciation) consists of:
          
                                   
                                   
               
Gross unrealized appreciation
    
$
4,353,704
  
               
Gross unrealized depreciation
      
(604,408
)
               
Net unrealized appreciation
    
$
3,749,296