NPORT-EX 2 carbon-nportex_103123.htm

Carbon Collective Climate Solutions U.S. Equity ETF

SCHEDULE OF INVESTMENTS at October 31, 2023 (Unaudited)

	Shares		Value
Common Stocks - 99.8%
Aerospace & Defense - 0.8%
Amprius Technologies, Inc. ⁽¹⁾		2,328	$	6,774
Archer Aviation, Inc. - Class A ⁽¹⁾		8,285		39,354
Joby Aviation, Inc. ⁽¹⁾		19,728		103,967
				150,095
Auto Manufacturers - 17.2%
Arcimoto, Inc. ⁽¹⁾		210		123
Arrival SA ⁽¹⁾		485		459
AYRO, Inc. ⁽¹⁾		119		186
Canoo, Inc. ⁽¹⁾		18,758		5,142
Cenntro Electric Group Ltd. ⁽¹⁾		8,286		1,364
Fisker, Inc. - Class A ⁽¹⁾		9,181		41,314
GreenPower Motor Co., Inc. ⁽¹⁾		722		1,964
Hyliion Holdings Corp. ⁽¹⁾		5,231		3,119
Hyzon Motors, Inc. ⁽¹⁾		6,601		5,149
Kandi Technologies Group, Inc. ⁽¹⁾		2,146		6,867
Li Auto, Inc. - Class A - ADR ⁽¹⁾		26,803		906,209
The Lion Electric Co. ⁽¹⁾		6,390		10,032
Lucid Group, Inc. ⁽¹⁾		62,424		257,187
Mullen Automotive, Inc. ⁽¹⁾		4,874		1,302
Nikola Corp. ⁽¹⁾		31,545		34,069
NIO, Inc. - Class C - ADR ⁽¹⁾		49,129		358,642
Phoenix Motor, Inc. ⁽¹⁾		527		411
Rivian Automotive, Inc. - Class A ⁽¹⁾		25,073		406,684
Tesla, Inc. ⁽¹⁾		4,027		808,783
Xos, Inc. ⁽¹⁾		4,906		1,213
XPeng, Inc. - ADR ⁽¹⁾		23,256		336,747
				3,186,966
Auto Parts & Equipment - 0.6%
Ads-Tec Energy PLC ⁽¹⁾		1,454		9,451
CBAK Energy Technology, Inc. ⁽¹⁾		2,414		1,907
Microvast Holdings, Inc. ⁽¹⁾		8,959		11,020
QuantumScape Corp. - Class A ⁽¹⁾		13,366		69,770
SES AI Corp. - Class A ⁽¹⁾		9,383		16,983
Solid Power, Inc. ⁽¹⁾		5,016		6,621
				115,752
Beverages - 0.0% ⁽²⁾
Oatly Group AB - ADR ⁽¹⁾		16,548		8,032

	Shares		Value
Biotechnology - 0.0% ⁽²⁾
JanOne, Inc. ⁽¹⁾		103	$	34
Yield10 Bioscience, Inc. ⁽¹⁾		167		54
				88
Building Materials - 13.1%
AAON, Inc.		2,266		123,452
Apogee Enterprises, Inc.		630		27,040
Carrier Global Corp.		18,540		883,616
Crown ElectroKinetics Corp. ⁽¹⁾		33		8
Energy Focus, Inc. ⁽¹⁾		71		102
Johnson Controls International PLC		18,847		923,880
Lennox International, Inc.		995		368,687
LSI Industries, Inc.		792		11,785
PGT Innovations, Inc. ⁽¹⁾		1,631		48,832
Research Frontiers, Inc. ⁽¹⁾		891		962
Reto Eco-solutions, Inc. ⁽¹⁾		139		96
Tecnoglass, Inc.		1,292		42,223
View, Inc. ⁽¹⁾		106		330
				2,431,013
Chemicals - 0.7%
Danimer Scientific, Inc. ⁽¹⁾		2,593		3,708
Daqo New Energy Corp. - ADR ⁽¹⁾		2,104		53,568
Livent Corp. ⁽¹⁾		5,092		74,292
Origin Materials, Inc. ⁽¹⁾		4,213		4,165
Save Foods, Inc. ⁽¹⁾		22		47
				135,780
Commercial Services - 3.9%
Micromobility.com, Inc. ⁽¹⁾		4,191		163
Quanta Services, Inc.		4,237		708,088
Willdan Group, Inc. ⁽¹⁾		366		6,456
				714,707
Distribution & Wholesale - 1.8%
Hudson Technologies, Inc. ⁽¹⁾		1,266		16,306
Ideanomics, Inc. ⁽¹⁾		440		977
LKQ Corp.		7,342		322,461
				339,744
Diversified Financial Services - 0.3%
Hannon Armstrong Sustainable Infrastructure Capital, Inc. - REIT		3,115		53,391

Electric - 2.8%
Altus Power, Inc. - Class A ⁽¹⁾		4,441		23,582
Ameresco, Inc. - Class A ⁽¹⁾		1,539		40,245
Atlantica Sustainable Infrastructure PLC		3,317		60,071
Brookfield Renewable Corp. - Class A		5,255		119,604
Clearway Energy, Inc. - Class A		4,757		96,900
FTC Solar, Inc. ⁽¹⁾		3,199		3,423
Ormat Technologies, Inc.		1,678		103,264
ReNew Energy Global PLC - Class A ⁽¹⁾		10,921		58,973
				506,062

	Shares		Value
Electrical Components & Equipment - 6.4%
Acuity Brands, Inc.		860	$	139,294
Blink Charging Co. ⁽¹⁾		1,767		4,206
ChargePoint Holdings, Inc. - Class A ⁽¹⁾		10,291		26,139
Eaton Corp PLC		4,830		1,004,205
ESS Tech, Inc. ⁽¹⁾		5,068		6,082
Nuvve Holding Corp. ⁽¹⁾		837		153
Orion Energy Systems, Inc. ⁽¹⁾		940		940
				1,181,019

Electronics - 1.1%
Badger Meter, Inc.		870		120,539
Itron, Inc. ⁽¹⁾		1,253		71,772
KULR Technology Group, Inc. ⁽¹⁾		3,534		1,022
SemiLEDs Corp/Taiwan ⁽¹⁾		125		140
				193,473
Energy - Alternate Sources - 8.8%
Advent Technologies Holdings, Inc. ⁽¹⁾		1,617		580
Array Technologies, Inc. ⁽¹⁾		4,506		78,089
Ballard Power Systems, Inc. ⁽¹⁾		8,543		28,448
Beam Global ⁽¹⁾		403		2,208
Brenmiller Energy Ltd. ⁽¹⁾		588		346
Broadwind, Inc. ⁽¹⁾		591		1,548
Canadian Solar, Inc. ⁽¹⁾		1,863		37,223
Eco Wave Power Global AB - ADR ⁽¹⁾		138		330
Emeren Group Ltd. - ADR ⁽¹⁾		1,745		4,275
Energy Vault Holdings, Inc. ⁽¹⁾		4,074		8,189
Enphase Energy, Inc. ⁽¹⁾		3,814		303,518
Eos Energy Enterprises, Inc. ⁽¹⁾		3,712		6,533
First Solar, Inc. ⁽¹⁾		2,979		424,359
Fluence Energy, Inc. - Class A ⁽¹⁾		4,877		84,470
Flux Power Holdings, Inc. ⁽¹⁾		506		1,655
FREYR Battery SA ⁽¹⁾		4,019		12,901
Fusion Fuel Green PLC ⁽¹⁾		489		352
FutureFuel Corp.		1,239		8,115
Heliogen, Inc. ⁽¹⁾		172		335
iSun, Inc. ⁽¹⁾		534		92
JinkoSolar Holding Co. Ltd. - ADR		1,448		47,190
Maxeon Solar Technologies Ltd. ⁽¹⁾		1,561		9,741
Montauk Renewables, Inc. ⁽¹⁾		3,809		38,319
NextEra Energy Partners L.P.		3,145		85,135
Nxu, Inc. ⁽¹⁾		1,854		64
Pineapple Energy, Inc. ⁽¹⁾		276		204
Plug Power, Inc. ⁽¹⁾		18,144		106,868
Shoals Technologies Group, Inc. ⁽¹⁾		5,183		79,611
SolarEdge Technologies, Inc. ⁽¹⁾		1,647		125,090

	Shares		Value
SPI Energy Co. Ltd. ⁽¹⁾		905	$	543
Spruce Power Holding Corp. ⁽¹⁾		468		1,741
Stem, Inc. ⁽¹⁾		4,599		15,545
Sunnova Energy International, Inc. ⁽¹⁾		3,556		32,466
SunPower Corp. ⁽¹⁾		5,128		21,897
Sunrun, Inc. ⁽¹⁾		6,444		62,185
Sunworks, Inc. ⁽¹⁾		1,234		420
TPI Composites, Inc. ⁽¹⁾		1,229		2,839
VivoPower International PLC ⁽¹⁾		73		155
				1,633,579
Engineering & Construction - 2.1%
Comfort Systems USA, Inc.		1,038		188,760
TopBuild Corp. ⁽¹⁾		879		201,080
				389,840
Environmental Control - 13.1%
Aqua Metals, Inc. ⁽¹⁾		3,164		2,603
Denison Mines Corp. ⁽¹⁾		24,925		40,378
Enviri Corp. ⁽¹⁾		2,226		12,777
GFL Environmental, Inc. - SVS		10,207		294,166
Li-Cycle Holdings Corp. ⁽¹⁾		5,083		6,811
Lightbridge Corp. ⁽¹⁾		353		1,518
Perma-Fix Environmental Services, Inc. ⁽¹⁾		375		3,488
PureCycle Technologies, Inc. ⁽¹⁾		4,608		20,506
PyroGenesis Canada, Inc. ⁽¹⁾		4,593		1,378
Quest Resource Holding Corp. ⁽¹⁾		549		3,980
Waste Connections, Inc.		7,236		937,062
Waste Management, Inc.		6,668		1,095,752
				2,420,419
Food - 0.3%
Beyond Meat, Inc. ⁽¹⁾		1,792		10,698
Laird Superfood, Inc. ⁽¹⁾		256		200
Steakholder Foods Ltd. - ADR ⁽¹⁾		655		434
SunOpta, Inc. ⁽¹⁾		3,099		11,900
The Hain Celestial Group, Inc. ⁽¹⁾		2,379		26,288
				49,520
Home Builders - 0.5%
Installed Building Products, Inc.		785		87,661

Household Products & Wares - 0.1%
Quanex Building Products Corp.		923		24,782

Internet - 0.0% ⁽²⁾
Swvl Holdings Corp. ⁽¹⁾		144		136

Iron & Steel - 8.7%
Commercial Metals Co.		3,259		137,823
Nucor Corp.		6,531		965,216
Schnitzer Steel Industries, Inc. - Class A		886		20,121
Steel Dynamics, Inc.		4,521		481,532
				1,604,692

	Shares		Value
Leisure Time - 0.4%
Ezgo Technologies Ltd. ⁽¹⁾		2,058	$	185
Forza X1, Inc. ⁽¹⁾		455		265
Gogoro, Inc. ⁽¹⁾		6,670		15,608
Livewire Group, Inc. ⁽¹⁾		5,275		56,548
Niu Technologies - Class A - ADR ⁽¹⁾		2,183		4,715
Volcon, Inc. ⁽¹⁾		176		199
				77,520

Machinery - Construction & Mining - 0.1%
NuScale Power Corp. - Class A ⁽¹⁾		2,273		7,683
Tritium DCFC Ltd. ⁽¹⁾		4,999		1,001
Wallbox NV - Class A ⁽¹⁾		5,707		8,960
				17,644
Machinery - Diversified - 1.4%
CSW Industrials, Inc.		426		75,513
GrafTech International Ltd.		6,934		23,922
Watts Water Technologies, Inc. - Class A		930		160,899
				260,334
Metal Fabricate & Hardware - 0.6%
Valmont Industries, Inc.		588		115,783

Mining - 10.1%
Cameco Corp.		12,965		530,398
Centrus Energy Corp. - Class A ⁽¹⁾		454		24,094
Gatos Silver, Inc. ⁽¹⁾		1,883		9,170
Gold Resource Corp. ⁽¹⁾		2,438		980
ioneer Ltd. - ADR ⁽¹⁾		1,442		5,321
IperionX Ltd. - ADR ⁽¹⁾		509		3,960
Lithium Americas Argentina Corp. ⁽¹⁾		4,674		25,847
Lithium Americas Corp. ⁽¹⁾		4,674		31,316
MP Materials Corp. ⁽¹⁾		5,028		82,459
NexGen Energy Ltd. ⁽¹⁾		14,414		87,205
Solitario Resources Corp. ⁽¹⁾		1,921		986
Southern Copper Corp.		13,707		971,826
TMC the metals Co., Inc. ⁽¹⁾		8,944		7,318
Uranium Energy Corp. ⁽¹⁾		11,868		70,615
Ur-Energy, Inc. ⁽¹⁾		8,270		13,480
Westwater Resources, Inc. ⁽¹⁾		1,545		927
				1,865,902
Miscellaneous Manufacturers - 0.0% ⁽²⁾
Loop Industries, Inc. ⁽¹⁾		1,227		3,914

	Shares		Value
Retail - 0.9%
Allego NV ⁽¹⁾		7,258	$	10,887
ATRenew, Inc. - Class A - ADR ⁽¹⁾		6,044		8,885
Beacon Roofing Supply, Inc. ⁽¹⁾		1,778		126,540
EVgo, Inc. - Class A ⁽¹⁾		8,472		17,495
Jiuzi Holdings, Inc. ⁽¹⁾		70		50
				163,857
Software - 3.9%
8x8, Inc. ⁽¹⁾		3,098		7,373
DocuSign, Inc. ⁽¹⁾		5,572		216,639
Faraday Future Intelligent Electric, Inc. - Class A ⁽¹⁾		763		809
Freight Technologies, Inc. ⁽¹⁾		189		53
Kaltura, Inc. ⁽¹⁾		3,884		6,680
Zoom Video Communications, Inc. - Class A ⁽¹⁾		8,020		481,040
				712,594
Telecommunications - 0.1%
AudioCodes Ltd.		871		6,846
ClearOne, Inc. ⁽¹⁾		643		427
Oblong, Inc. ⁽¹⁾		78		12
Preformed Line Products Co.		140		18,949
				26,234
Total Common Stocks
(Cost $21,500,607)				18,470,533

Short-Term Investments - 0.1%
Money Market Funds - 0.1%
First American Government Obligations Fund, Class X, 5.276% ⁽²⁾		17,324		17,324
Total Short-Term Investments
(Cost $17,324)				17,324

Total Investments in Securities - 99.9%
(Cost $21,517,931)				18,487,857
Other Assets in Excess of Liabilities - 0.1%				11,540
Total Net Assets - 100.0%			$	18,499,397

ADR	American Depositary Receipt.
REIT	Real Estate Investment Trust
SVS	Subordinate Voting Shares
⁽¹⁾	Non-income producing security.
⁽²⁾	Does not round to 0.1% or (0.1) %, as applicable.
⁽³⁾	The rate shown is the annualized seven-day effective yield as of October 31, 2023.

Summary of Fair Value Exposure at October 31, 2023

The Carbon Collective Climate Solutions U.S. Equity ETF (the “Fund”) utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

● 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 spreads, 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 inputs used to value the Fund’s investments as of October 31, 2023:

Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stocks ⁽¹⁾	$	18,470,533	$	—	$	—	$	18,470,533
Short-Term Investments		17,324		—		—		17,324
Total Investments in Securities	$	18,487,857	$	—	$	—	$	18,487,857

⁽¹⁾	See Schedule of Investments for the industry breakout.