NPORT-EX 2 mf-midcap.htm NPORT-EX

Motley Fool Mid-Cap Growth ETF
  
Schedule of Investments
  
November 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 98.7%
  
Shares
    
Value
 
Aerospace & Defense - 5.1%
        
Axon Enterprise, Inc. (a)
    
18,074
    
$
11,693,155
  
                 
Air Freight & Logistics - 2.9%
          
GXO Logistics, Inc. (a)(b)
    
107,899
      
6,563,496
  
                 
Automobile Components - 2.9%
          
Gentex Corp.
    
219,941
      
6,721,397
  
                 
Biotechnology - 3.8%
          
BioMarin Pharmaceutical, Inc. (a)
    
66,890
      
4,416,747
  
Ultragenyx Pharmaceutical, Inc. (a)
    
92,147
      
4,388,961
  
             
8,805,708
  
                 
Building Products - 2.4%
          
Trex Co., Inc. (a)
    
73,642
      
5,525,359
  
                 
Capital Markets - 6.6%
          
Morningstar, Inc.
    
14,986
      
5,307,292
  
StoneX Group, Inc. (a)
    
95,209
      
9,878,886
  
             
15,186,178
  
                 
Chemicals - 2.2%
          
Eastman Chemical Co.
    
48,541
      
5,083,214
  
                 
Financial Services - 5.1%
          
Toast, Inc. - Class A (a)(b)
    
268,811
      
11,704,031
  
                 
Ground Transportation - 3.5%
          
RXO, Inc. (a)(b)
    
268,886
      
8,106,913
  
                 
Health Care Equipment & Supplies - 10.0%
          
Cooper Cos., Inc. (a)
    
73,133
      
7,639,473
  
DexCom, Inc. (a)
    
79,040
      
6,164,330
  
Globus Medical, Inc. - Class A (a)(b)
    
106,903
      
9,151,966
  
             
22,955,769
  
                 
Health Care Providers & Services - 3.6%
          
HealthEquity, Inc. (a)(b)
    
81,739
      
8,299,778
  
                 
Health Care REITs - 1.5%
          
Alexandria Real Estate Equities, Inc. (b)
    
31,762
      
3,501,125
  
                 
Insurance - 8.9%
          
Brown & Brown, Inc.
    
119,064
      
13,466,139
  
Goosehead Insurance, Inc. - Class A (a)(b)
    
56,269
      
7,096,646
  
             
20,562,785
  
                 
Life Sciences Tools & Services - 2.9%
          
Waters Corp. (a)(b)
    
17,280
      
6,647,962
  
                 
Professional Services - 6.8%
          
Broadridge Financial Solutions, Inc.
    
44,274
      
10,449,549
  
TransUnion
    
49,930
      
5,067,895
  
             
15,517,444
  
                 
Real Estate Management & Development - 2.2%
          
CoStar Group, Inc. (a)(b)
    
61,300
      
4,986,142
  
                 
Software - 13.3%
          
Alarm.com Holdings, Inc. (a)
    
100,395
      
6,539,730
  
Guidewire Software, Inc. (a)
    
33,225
      
6,741,020
  
QXO, Inc.
    
290,847
      
4,839,694
  
Tyler Technologies, Inc. (a)
    
19,808
      
12,462,600
  
             
30,583,044
  
                 
Specialized REITs - 3.3%
          
SBA Communications Corp.
    
33,019
      
7,470,549
  
                 
Specialty Retail - 1.8%
          
Tractor Supply Co. (b)
    
14,229
      
4,036,340
  
                 
Trading Companies & Distributors - 9.9%
          
Fastenal Co.
    
100,924
      
8,433,209
  
Herc Holdings, Inc.
    
31,899
      
7,400,568
  
Watsco, Inc. (b)
    
12,440
      
6,861,904
  
             
22,695,681
  
TOTAL COMMON STOCKS (Cost $130,887,243)
      
226,646,070
  
                 
SHORT-TERM INVESTMENTS - 19.7%
          
Value
 
Investments Purchased with Proceeds from Securities Lending - 19.7%
  
Units
          
Mount Vernon Liquid Assets Portfolio, LLC, 4.93% (c)
    
45,336,146
      
45,336,146
  
TOTAL SHORT-TERM INVESTMENTS (Cost $45,336,146)
      
45,336,146
  
                 
TOTAL INVESTMENTS - 118.4% (Cost $176,223,389)
      
271,982,216
  
Liabilities in Excess of Other Assets - (18.4)%
      
(42,227,071
)
TOTAL NET ASSETS - 100.0%
          
$
229,705,145
  
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.
  

REIT - Real Estate Investment Trust

(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 $44,255,941 which represented 19.3% of net assets.
(c)
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 Mid-Cap Growth 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
  
$
226,646,070
    
$
–
    
$
–
    
$
226,646,070
  
  Investments Purchased with Proceeds from Securities Lending(a)
    
–
      
–
      
–
      
45,336,146
  
Total Investments
  
$
226,646,070
    
$
–
    
$
–
    
$
271,982,216
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  

(a)
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 $45,336,146 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.