NPORT-EX 2 bright3final.htm

FIS Bright Portfolios Focused Equity ETF
  
Schedule of Investments
  
August 31, 2025 (Unaudited)
  
   
COMMON STOCKS - 95.3%
  
Shares
    
Value
 
Automobiles - 1.9%
        
Tesla, Inc. (a)
    
5,335
    
$
1,781,196
  
                 
Beverages - 2.6%
          
Coca-Cola Consolidated, Inc.
    
20,467
      
2,399,551
  
                 
Biotechnology - 5.6%
          
AbbVie, Inc.
    
12,867
      
2,707,217
  
Amgen, Inc.
    
4,185
      
1,204,066
  
Vertex Pharmaceuticals, Inc. (a)
    
3,588
      
1,402,980
  
             
5,314,263
  
                 
Capital Markets - 3.1%
          
Moody's Corp.
    
3,411
      
1,738,791
  
S&P Global, Inc.
    
2,172
      
1,191,212
  
             
2,930,003
  
                 
Chemicals - 6.4%
          
DuPont de Nemours, Inc.
    
31,942
      
2,456,979
  
Linde PLC
    
7,493
      
3,583,827
  
             
6,040,806
  
                 
Commercial Services & Supplies - 1.9%
          
Waste Management, Inc.
    
7,825
      
1,771,502
  
                 
Communications Equipment - 8.9%
          
Arista Networks, Inc. (a)
    
27,420
      
3,744,201
  
Cisco Systems, Inc.
    
67,664
      
4,674,906
  
             
8,419,107
  
                 
Electric Utilities - 0.7%
          
NRG Energy, Inc.
    
4,813
      
700,580
  
                 
Electrical Equipment - 1.9%
          
Eaton Corp. PLC
    
4,981
      
1,739,066
  
                 
Ground Transportation - 2.6%
          
Uber Technologies, Inc. (a)
    
25,580
      
2,398,125
  
                 
Health Care Equipment & Supplies - 4.5%
          
Abbott Laboratories
    
18,203
      
2,414,810
  
Stryker Corp.
    
4,747
      
1,858,023
  
             
4,272,833
  
                 
Health Care Providers & Services - 1.3%
          
DaVita, Inc. (a)
    
9,118
      
1,256,096
  
                 
Independent Power and Renewable Electricity Producers - 0.7%
          
Vistra Corp.
    
3,391
      
641,272
  
                 
Insurance - 6.4%
          
Allstate Corp.
    
8,541
      
1,737,666
  
Chubb Ltd.
    
4,436
      
1,220,211
  
Travelers Cos., Inc.
    
4,542
      
1,233,198
  
W.R. Berkley Corp.
    
24,978
      
1,790,673
  
             
5,981,748
  
                 
Machinery - 5.4%
          
Caterpillar, Inc.
    
4,329
      
1,814,024
  
Cummins, Inc.
    
5,233
      
2,085,037
  
Illinois Tool Works, Inc.
    
4,613
      
1,220,830
  
             
5,119,891
  
                 
Metals & Mining - 1.4%
          
Nucor Corp.
    
8,557
      
1,272,683
  
                 
Oil, Gas & Consumable Fuels - 3.2%
          
EOG Resources, Inc.
    
4,714
      
588,401
  
EQT Corp.
    
10,869
      
563,449
  
Exxon Mobil Corp.
    
11,409
      
1,303,935
  
Targa Resources Corp.
    
3,414
      
572,733
  
             
3,028,518
  
                 
Pharmaceuticals - 2.7%
          
Eli Lilly & Co.
    
3,478
      
2,547,913
  
                 
Semiconductors & Semiconductor Equipment - 14.7%
          
Advanced Micro Devices, Inc. (a)
    
8,320
      
1,353,082
  
Broadcom, Inc.
    
17,480
      
5,198,377
  
NVIDIA Corp.
    
41,768
      
7,275,150
  
             
13,826,609
  
                 
Software - 14.9%
          
Adobe, Inc. (a)
    
3,479
      
1,240,959
  
Crowdstrike Holdings, Inc. - Class A (a)
    
1,331
      
563,945
  
Oracle Corp.
    
15,960
      
3,609,035
  
Palo Alto Networks, Inc. (a)
    
24,077
      
4,587,150
  
Salesforce, Inc.
    
10,013
      
2,565,831
  
ServiceNow, Inc. (a)
    
1,541
      
1,413,806
  
             
13,980,726
  
                 
Specialty Retail - 4.5%
          
O'Reilly Automotive, Inc. (a)
    
17,414
      
1,805,483
  
TJX Cos., Inc.
    
17,514
      
2,392,588
  
             
4,198,071
  
TOTAL COMMON STOCKS (Cost $79,736,873)
      
89,620,559
  
           
SHORT-TERM INVESTMENTS
  
   
MONEY MARKET FUNDS - 4.7%
  
Shares
    
Value
  
First American Treasury Obligations Fund - Class X, 4.20%(b)
    
4,465,874
      
4,465,874
  
TOTAL MONEY MARKET FUNDS (Cost $4,465,874)
      
4,465,874
  
                 
TOTAL INVESTMENTS - 100.0% (Cost $84,202,747)
      
94,086,433
  
Other Assets in Excess of Liabilities - 0.0% (c)
      
35,670
  
TOTAL NET ASSETS - 100.0%
          
$
94,122,103
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%
   
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
  

PLC - Public Limited Company

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day annualized effective yield as of August 31, 2025.
(c)
Represents less than 0.05% of net assets.
FIS Bright Portfolios Focused Equity ETF
Notes to Quarterly Schedule of Investments
August 31, 2025 (Unaudited)

Investment Valuation
The Fund discloses the fair 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 Fund’s (observable inputs) and (2) the Fund’s 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 that the Fund’s have the ability to access.
• 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 inputs used to value the Fund’s investments as of August 31, 2025:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets
                        
Investments:
                        
  Common Stocks
  
$
89,620,559
    
$
–
    
$
–
    
$
89,620,559
  
  Money Market Funds
    
4,465,874
      
–
      
–
      
4,465,874
  
Total Investments
  
$
94,086,433
    
$
–
    
$
–
    
$
94,086,433
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  
   

Allocation of Portfolio Holdings by Country as of August 31, 2025
(% of Net Assets)

United States
  
$
91,127,156
      
96.8
%
Ireland
    
1,739,066
      
1.9
  
Switzerland
    
1,220,211
      
1.3
  
Other Assets in Excess of Liabilities
    
35,670
      
0.0
(a) 
   
$
94,122,103
      
100.0
%

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

Sector Classification as of August 31, 2025
(% of Net Assets)

Information Technology
  
$
36,226,442
      
38.5
%
Health Care
    
13,391,105
      
14.2
  
Industrials
    
11,028,584
      
11.8
  
Financials
    
8,911,751
      
9.5
  
Materials
    
7,313,489
      
7.8
  
Consumer Discretionary
    
5,979,267
      
6.3
  
Energy
    
3,028,518
      
3.2
  
Consumer Staples
    
2,399,551
      
2.6
  
Utilities
    
1,341,852
      
1.4
  
Money Market Funds
    
4,465,874
      
4.7
  
Other Assets in Excess of Liabilities
    
35,670
      
0.0
(a) 
     
94,122,103
      
100.0
%

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