NPORT-EX 2 mf-global.htm NPORT-EX

Motley Fool Global Opportunities ETF
  
Schedule of Investments
  
November 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 91.2%
  
Shares
    
Value
 
Argentina - 2.1%
        
MercadoLibre, Inc. (a)
    
4,907
    
$
9,741,229
  
                 
Australia - 2.3%
          
Atlassian Corp. - Class A (a)
    
40,731
      
10,735,877
  
                 
Canada - 10.5%
          
Brookfield Asset Management Ltd. (b)
    
267,724
      
15,303,104
  
Canadian National Railway Co.
    
118,774
      
13,265,868
  
Waste Connections, Inc.
    
103,729
      
19,964,721
  
             
48,533,693
  
                 
China - 2.2%
          
Yum China Holdings, Inc. (b)
    
221,686
      
10,319,483
  
                 
France - 1.6%
          
Vivendi SA (b)
    
785,591
      
7,214,188
  
                 
Germany - 2.0%
          
Symrise AG
    
83,152
      
9,182,484
  
                 
Ireland - 4.9%
          
ICON PLC (a)
    
63,621
      
13,376,315
  
Kerry Group PLC - Class A
    
78,893
      
7,624,184
  
Kerry Group PLC - Class A
    
20,005
      
1,877,252
  
             
22,877,751
  
                 
Japan - 3.6%
          
Nintendo Co. Ltd.
    
281,112
      
16,553,131
  
                 
Kenya - 0.1%
          
Safaricom PLC
    
4,000,000
      
462,428
  
                 
Netherlands - 0.9%
          
Universal Music Group NV
    
164,228
      
3,958,619
  
                 
Philippines - 2.2%
          
International Container Terminal Services, Inc.
    
1,610,522
      
10,162,755
  
                 
Spain - 1.3%
          
Cellnex Telecom SA (c)
    
169,101
      
6,072,125
  
                 
Taiwan - 2.0%
          
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR
    
48,835
      
9,017,871
  
                 
United Arab Emirates - 0.0%(d)
          
NMC Health PLC (a)(e)
    
485,482
      
0
  
                 
United Kingdom - 6.1%
          
London Stock Exchange Group PLC
    
91,262
      
13,087,363
  
Rentokil Initial PLC - ADR (b)
    
459,452
      
11,734,404
  
System1 Group PLC
    
447,260
      
3,556,954
  
             
28,378,721
  
                 
United States - 49.4%(f)
          
Alphabet, Inc. - Class C
    
96,753
      
16,495,419
  
Amazon.com, Inc. (a)
    
111,669
      
23,214,868
  
American Tower Corp.
    
64,526
      
13,485,934
  
Aon PLC - Class A
    
30,796
      
12,057,866
  
Axon Enterprise, Inc. (a)(b)
    
30,863
      
19,967,126
  
BioMarin Pharmaceutical, Inc. (a)
    
84,394
      
5,572,536
  
Comcast Corp. - Class A
    
220,750
      
9,534,193
  
Costco Wholesale Corp. (b)
    
15,855
      
15,409,157
  
DexCom, Inc. (a)
    
186,197
      
14,521,504
  
Equinix, Inc.
    
14,394
      
14,127,423
  
Fastenal Co.
    
125,454
      
10,482,936
  
Mastercard, Inc. - Class A
    
32,874
      
17,519,870
  
Salesforce, Inc.
    
41,246
      
13,610,768
  
SBA Communications Corp.
    
25,424
      
5,752,180
  
Starbucks Corp. (b)
    
95,516
      
9,786,569
  
Waters Corp. (a)(b)
    
22,100
      
8,502,312
  
Watsco, Inc. (b)
    
33,355
      
18,398,618
  
             
228,439,279
  
TOTAL COMMON STOCKS (Cost $240,320,307)
      
421,649,634
  
                 
PREFERRED STOCKS - 2.1%
  
Shares
    
Value
 
Germany - 2.1%
          
Dr Ing hc F Porsche AG 0.00%,   (c)
    
152,959
      
9,549,633
  
TOTAL PREFERRED STOCKS (Cost $13,292,973)
      
9,549,633
  
                 
SHORT-TERM INVESTMENTS - 17.6%
          
Value
 
Investments Purchased with Proceeds from Securities Lending - 17.6%
  
Units
          
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (g)
    
81,174,013
      
81,174,013
  
TOTAL SHORT-TERM INVESTMENTS (Cost $81,174,013)
      
81,174,013
  
                 
TOTAL INVESTMENTS - 110.9% (Cost $334,787,293)
      
512,373,280
  
Liabilities in Excess of Other Assets - (10.9)%
      
(50,131,966
)
TOTAL NET ASSETS - 100.0%
          
$
462,241,314
  
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.
  

ADR - American Depositary Receipt
AG - Aktiengesellschaft
NV - Naamloze Vennootschap
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 November 30, 2024. The total market value of these securities was $79,373,889 which represented 17.2% of net assets.
(c)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of November 30, 2024, the value of these securities total $15,621,758 or 3.4% of the Fund’s net assets.
(d)
Represents less than 0.05% of net assets.
(e)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of November 30, 2024.
(f)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(g)
The rate shown represents the 7-day annualized effective yield as of November 30, 2024.


Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)
 
Motley Fool Global Opportunities 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 November 30, 2024:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
421,649,634
    
$
–
    
$
–
(a) 
  
$
421,649,634
  
  Preferred Stocks
    
9,549,633
      
–
      
–
      
9,549,633
  
  Investments Purchased with Proceeds from Securities Lending(b)
    
–
      
–
      
–
      
81,174,013
  
Total Investments
  
$
431,199,267
    
$
–
    
$
–
(a) 
  
$
512,373,280
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  
   
Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year’s annual report.
  

(a)
Amount is less than $0.50.
(b)
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 $81,174,013 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.