NPORT-EX 2 mf-next.htm NPORT-EX

Motley Fool Next Index ETF
  
Schedule of Investments
  
November 30, 2024 (Unaudited)
  
   
COMMON STOCKS - 99.4%
  
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Value
 
Aerospace & Defense - 5.7%
        
AeroVironment, Inc. (a)
    
412
    
$
80,134
  
Axon Enterprise, Inc. (a)
    
1,112
      
719,419
  
HEICO Corp.
    
1,767
      
483,045
  
Rocket Lab USA, Inc. (a)
    
7,315
      
199,553
  
Textron, Inc.
    
2,757
      
236,082
  
             
1,718,233
  
                 
Air Freight & Logistics - 0.4%
          
GXO Logistics, Inc. (a)
    
1,758
      
106,939
  
                 
Automobile Components - 0.6%
          
BorgWarner, Inc.
    
3,352
      
115,041
  
Phinia, Inc.
    
643
      
36,059
  
XPEL, Inc. (a)
    
407
      
17,705
  
             
168,805
  
                 
Banks - 0.7%
          
Axos Financial, Inc. (a)
    
836
      
69,263
  
Western Alliance Bancorp
    
1,604
      
150,150
  
             
219,413
  
                 
Beverages - 0.5%
          
Boston Beer Co., Inc. - Class A (a)
    
166
      
52,496
  
Celsius Holdings, Inc. (a)
    
3,432
      
97,640
  
             
150,136
  
                 
Biotechnology - 4.5%
          
2seventy bio, Inc. (a)
    
758
      
3,024
  
Alnylam Pharmaceuticals, Inc. (a)
    
1,888
      
477,796
  
AnaptysBio, Inc. (a)
    
442
      
11,032
  
BioMarin Pharmaceutical, Inc. (a)
    
2,803
      
185,082
  
Bluebird Bio, Inc. (a)
    
2,855
      
1,156
  
Bridgebio Pharma, Inc. (a)
    
2,767
      
74,958
  
Editas Medicine, Inc. (a)
    
1,207
      
2,704
  
Emergent BioSolutions, Inc. (a)
    
792
      
8,015
  
Exact Sciences Corp. (a)
    
2,718
      
168,734
  
Exelixis, Inc. (a)
    
4,200
      
153,132
  
Ionis Pharmaceuticals, Inc. (a)
    
2,320
      
82,894
  
Neurocrine Biosciences, Inc. (a)
    
1,485
      
188,224
  
             
1,356,751
  
                 
Broadline Retail - 0.3%
          
Etsy, Inc. (a)
    
1,689
      
92,659
  
                 
Building Products - 0.4%
          
Trex Co., Inc. (a)
    
1,599
      
119,973
  
                 
Capital Markets - 5.0%
          
Affiliated Managers Group, Inc.
    
436
      
81,767
  
Cboe Global Markets, Inc.
    
1,539
      
332,193
  
FactSet Research Systems, Inc.
    
557
      
273,303
  
Houlihan Lokey, Inc.
    
1,021
      
193,061
  
Interactive Brokers Group, Inc. - Class A
    
1,600
      
305,744
  
Jefferies Financial Group, Inc.
    
3,026
      
239,478
  
PJT Partners, Inc. - Class A
    
350
      
58,576
  
             
1,484,122
  
                 
Chemicals - 1.2%
          
Balchem Corp.
    
477
      
86,108
  
RPM International, Inc.
    
1,894
      
262,849
  
             
348,957
  
                 
Commercial Services & Supplies - 2.6%
          
Healthcare Services Group, Inc. (a)
    
1,078
      
13,303
  
Rollins, Inc.
    
7,134
      
359,054
  
Veralto Corp.
    
3,637
      
393,487
  
             
765,844
  
                 
Communications Equipment - 1.0%
          
Ubiquiti, Inc.
    
889
      
308,030
  
                 
Construction & Engineering - 0.6%
          
MasTec, Inc. (a)
    
1,144
      
164,805
  
                 
Consumer Finance - 0.5%
          
Nelnet, Inc. - Class A
    
533
      
58,054
  
Upstart Holdings, Inc. (a)
    
1,315
      
103,609
  
             
161,663
  
                 
Consumer Staples Distribution & Retail - 1.3%
          
Casey's General Stores, Inc.
    
545
      
229,385
  
Maplebear, Inc. (a)
    
3,786
      
165,335
  
             
394,720
  
                 
Distributors - 0.5%
          
LKQ Corp.
    
3,874
      
152,209
  
                 
Diversified Consumer Services - 0.8%
          
Chegg, Inc. (a)
    
1,525
      
3,218
  
Duolingo, Inc. (a)
    
641
      
223,241
  
             
226,459
  
                 
Diversified Telecommunication Services - 0.0%(b)
          
Bandwidth, Inc. - Class A (a)
    
398
      
8,370
  
                 
Electronic Equipment, Instruments & Components - 2.6%
          
Cognex Corp.
    
2,524
      
100,909
  
Coherent Corp. (a)
    
2,254
      
225,761
  
IPG Photonics Corp. (a)
    
650
      
50,726
  
Littelfuse, Inc.
    
363
      
89,541
  
Zebra Technologies Corp. - Class A (a)
    
759
      
308,913
  
             
775,850
  
                 
Entertainment - 4.9%
          
Live Nation Entertainment, Inc. (a)
    
3,391
      
468,806
  
Roku, Inc. (a)
    
2,128
      
146,896
  
Take-Two Interactive Software, Inc. (a)
    
2,580
      
486,020
  
Warner Bros Discovery, Inc. (a)
    
36,118
      
378,517
  
             
1,480,239
  
                 
Financial Services - 2.7%
          
Euronet Worldwide, Inc. (a)
    
660
      
69,386
  
Jack Henry & Associates, Inc.
    
1,072
      
188,865
  
Marqeta, Inc. - Class A (a)
    
7,488
      
29,053
  
Toast, Inc. - Class A (a)
    
8,276
      
360,337
  
Walker & Dunlop, Inc.
    
494
      
54,429
  
WEX, Inc. (a)
    
603
      
113,762
  
             
815,832
  
                 
Food Products - 1.7%
          
Darling Ingredients, Inc. (a)
    
2,341
      
94,881
  
Freshpet, Inc. (a)
    
713
      
109,124
  
McCormick & Co., Inc./MD
    
3,956
      
310,190
  
             
514,195
  
                 
Ground Transportation - 2.1%
          
Landstar System, Inc.
    
522
      
97,050
  
RXO, Inc. (a)
    
2,324
      
70,069
  
U-Haul Holding Co. (a)
    
2,767
      
195,544
  
XPO, Inc. (a)
    
1,712
      
260,926
  
             
623,589
  
                 
Health Care Equipment & Supplies - 3.9%
          
Align Technology, Inc. (a)
    
1,096
      
255,116
  
Globus Medical, Inc. - Class A (a)
    
1,993
      
170,621
  
Inari Medical, Inc. (a)
    
855
      
44,392
  
Insulet Corp. (a)
    
1,028
      
274,250
  
Masimo Corp. (a)
    
785
      
135,444
  
QuidelOrtho Corp. (a)
    
990
      
40,590
  
Solventum Corp. (a)
    
2,540
      
181,635
  
STAAR Surgical Co. (a)
    
722
      
21,010
  
TransMedics Group, Inc. (a)
    
489
      
42,401
  
             
1,165,459
  
                 
Health Care Providers & Services - 1.6%
          
Fulgent Genetics, Inc. (a)
    
443
      
8,107
  
Guardant Health, Inc. (a)
    
1,811
      
64,489
  
HealthEquity, Inc. (a)
    
1,285
      
130,479
  
Progyny, Inc. (a)
    
1,326
      
20,646
  
Quest Diagnostics, Inc.
    
1,638
      
266,437
  
             
490,158
  
                 
Health Care Technology - 0.7%
          
Doximity, Inc. - Class A (a)
    
2,734
      
144,902
  
GoodRx Holdings, Inc. - Class A (a)
    
5,588
      
27,046
  
Teladoc, Inc. (a)
    
2,520
      
30,190
  
             
202,138
  
                 
Hotels, Restaurants & Leisure - 3.8%
          
Cava Group, Inc. (a)
    
1,684
      
237,276
  
Dave & Buster's Entertainment, Inc. (a)
    
575
      
22,609
  
Hyatt Hotels Corp. - Class A
    
1,475
      
232,962
  
Planet Fitness, Inc. - Class A (a)
    
1,244
      
123,840
  
Sweetgreen, Inc. - Class A (a)
    
1,677
      
68,723
  
Texas Roadhouse, Inc.
    
978
      
200,754
  
Vail Resorts, Inc.
    
552
      
98,941
  
Wingstop, Inc.
    
429
      
141,042
  
             
1,126,147
  
                 
Household Durables - 1.8%
          
Dream Finders Homes, Inc. - Class A (a)
    
1,377
      
45,813
  
iRobot Corp. (a)
    
442
      
3,364
  
Meritage Homes Corp.
    
534
      
102,031
  
NVR, Inc. (a)
    
42
      
387,894
  
             
539,102
  
                 
Household Products - 0.1%
          
Spectrum Brands Holdings, Inc.
    
412
      
37,883
  
                 
Industrial REITs - 0.3%
          
STAG Industrial, Inc.
    
2,681
      
98,634
  
                 
Insurance - 2.1%
          
Kinsale Capital Group, Inc.
    
339
      
172,361
  
Lemonade, Inc. (a)
    
1,046
      
54,193
  
Markel Group, Inc. (a)
    
189
      
336,972
  
Safety Insurance Group, Inc.
    
215
      
18,456
  
Trupanion, Inc. (a)
    
618
      
32,946
  
             
614,928
  
                 
Interactive Media & Services - 1.4%
          
Match Group, Inc. (a)
    
3,797
      
124,314
  
Pinterest, Inc. - Class A (a)
    
10,107
      
306,444
  
             
430,758
  
                 
IT Services - 5.4%
          
Cloudflare, Inc. - Class A (a)
    
5,030
      
502,145
  
DigitalOcean Holdings, Inc. (a)
    
1,354
      
51,560
  
EPAM Systems, Inc. (a)
    
836
      
203,917
  
Fastly, Inc. - Class A (a)
    
2,041
      
17,308
  
GoDaddy, Inc. - Class A (a)
    
2,073
      
409,563
  
Okta, Inc. (a)
    
2,501
      
193,978
  
Twilio, Inc. - Class A (a)
    
2,362
      
246,923
  
             
1,625,394
  
                 
Leisure Products - 0.4%
          
Hasbro, Inc.
    
2,052
      
133,688
  
                 
Life Sciences Tools & Services - 0.4%
          
Repligen Corp. (a)
    
824
      
124,045
  
                 
Machinery - 3.5%
          
Chart Industries, Inc. (a)
    
616
      
119,042
  
Middleby Corp. (a)
    
789
      
113,135
  
Proto Labs, Inc. (a)
    
368
      
15,158
  
RBC Bearings, Inc. (a)
    
426
      
142,757
  
Tennant Co.
    
275
      
24,302
  
Toro Co.
    
1,511
      
131,578
  
Westinghouse Air Brake Technologies Corp.
    
2,578
      
517,198
  
             
1,063,170
  
                 
Media - 0.5%
          
Boston Omaha Corp. - Class A (a)
    
459
      
7,009
  
New York Times Co. - Class A
    
2,416
      
131,092
  
PubMatic, Inc. - Class A (a)
    
728
      
11,612
  
             
149,713
  
                 
Oil, Gas & Consumable Fuels - 1.4%
          
Clean Energy Fuels Corp. (a)
    
3,288
      
10,127
  
EQT Corp.
    
8,747
      
397,464
  
Excelerate Energy, Inc. - Class A
    
367
      
11,366
  
Vitesse Energy, Inc.
    
432
      
12,130
  
             
431,087
  
                 
Passenger Airlines - 0.3%
          
Alaska Air Group, Inc. (a)
    
1,858
      
97,731
  
                 
Personal Care Products - 0.4%
          
elf Beauty, Inc. (a)
    
829
      
107,372
  
                 
Pharmaceuticals - 0.8%
          
Viatris, Inc.
    
17,582
      
230,148
  
                 
Professional Services - 3.5%
          
Broadridge Financial Solutions, Inc.
    
1,716
      
405,010
  
NV5 Global, Inc. (a)
    
956
      
20,802
  
Paycom Software, Inc.
    
823
      
190,870
  
Robert Half, Inc.
    
1,503
      
112,139
  
SS&C Technologies Holdings, Inc.
    
3,614
      
279,507
  
TaskUS, Inc. - Class A (a)
    
1,304
      
19,117
  
Upwork, Inc. (a)
    
1,942
      
32,956
  
             
1,060,401
  
                 
Real Estate Management & Development - 0.1%
          
Redfin Corp. (a)
    
1,790
      
16,987
  
                 
Retail REITs - 0.1%
          
Retail Opportunity Investments Corp.
    
1,876
      
32,642
  
                 
Semiconductors & Semiconductor Equipment - 3.3%
          
Cirrus Logic, Inc. (a)
    
784
      
81,889
  
Enphase Energy, Inc. (a)
    
1,993
      
142,201
  
First Solar, Inc. (a)
    
1,576
      
314,049
  
Impinj, Inc. (a)
    
413
      
79,383
  
Silicon Laboratories, Inc. (a)
    
474
      
52,448
  
Skyworks Solutions, Inc.
    
2,350
      
205,836
  
Universal Display Corp.
    
698
      
114,835
  
             
990,641
  
                 
Software - 12.1%
          
Alarm.com Holdings, Inc. (a)
    
723
      
47,096
  
Appfolio, Inc. - Class A (a)
    
533
      
135,249
  
Appian Corp. - Class A (a)
    
1,064
      
40,272
  
Asana, Inc. - Class A (a)
    
3,357
      
51,396
  
Blackbaud, Inc. (a)
    
741
      
62,199
  
BlackLine, Inc. (a)
    
912
      
56,553
  
Box, Inc. - Class A (a)
    
2,108
      
73,970
  
Braze, Inc. - Class A (a)
    
1,513
      
60,096
  
Confluent, Inc. - Class A (a)
    
4,750
      
146,490
  
DocuSign, Inc. (a)
    
2,987
      
238,034
  
Gitlab, Inc. - Class A (a)
    
2,360
      
150,450
  
HubSpot, Inc. (a)
    
756
      
545,114
  
Manhattan Associates, Inc. (a)
    
900
      
256,896
  
Nutanix, Inc. - Class A (a)
    
3,905
      
254,918
  
Pegasystems, Inc.
    
1,255
      
119,187
  
Q2 Holdings, Inc. (a)
    
886
      
92,800
  
Samsara, Inc. - Class A (a)
    
8,195
      
438,351
  
Smartsheet, Inc. - Class A (a)
    
2,045
      
114,418
  
Tyler Technologies, Inc. (a)
    
625
      
393,231
  
UiPath, Inc. - Class A (a)
    
8,099
      
115,087
  
Unity Software, Inc. (a)
    
5,843
      
140,875
  
Varonis Systems, Inc. (a)
    
1,650
      
82,434
  
Zuora, Inc. - Class A (a)
    
2,229
      
22,134
  
             
3,637,250
  
                 
Specialty Retail - 7.8%
          
Camping World Holdings, Inc. - Class A
    
662
      
16,179
  
CarMax, Inc. (a)
    
2,296
      
192,795
  
Carvana Co. (a)
    
1,822
      
474,485
  
Chewy, Inc. - Class A (a)
    
6,162
      
205,873
  
Designer Brands, Inc. - Class A
    
817
      
4,052
  
Five Below, Inc. (a)
    
806
      
74,716
  
GameStop Corp. - Class A (a)
    
6,282
      
182,492
  
RH (a)
    
269
      
103,603
  
Sleep Number Corp. (a)
    
326
      
4,890
  
Stitch Fix, Inc. - Class A (a)
    
1,802
      
8,578
  
Tractor Supply Co.
    
1,587
      
450,184
  
Ulta Beauty, Inc. (a)
    
690
      
266,782
  
Williams-Sonoma, Inc.
    
1,860
      
319,957
  
Winmark Corp.
    
48
      
19,772
  
             
2,324,358
  
                 
Technology Hardware, Storage & Peripherals - 0.9%
          
Pure Storage, Inc. - Class A (a)
    
4,826
      
255,730
  
                 
Textiles, Apparel & Luxury Goods - 0.7%
          
Skechers USA, Inc. - Class A (a)
    
2,241
      
143,020
  
Under Armour, Inc. - Class A (a)
    
6,222
      
60,416
  
             
203,436
  
                 
Trading Companies & Distributors - 1.5%
          
Watsco, Inc.
    
551
      
303,932
  
WESCO International, Inc.
    
722
      
152,753
  
             
456,685
  
TOTAL COMMON STOCKS (Cost $26,278,138)
      
29,803,478
  
                 
TOTAL INVESTMENTS - 99.4% (Cost $26,278,138)
      
29,803,478
  
Other Assets in Excess of Liabilities - 0.6%
      
196,100
  
TOTAL NET ASSETS - 100.0%
          
$
29,999,578
  
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)
Represents less than 0.05% of net assets.


Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)
 
Motley Fool Next Index 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
  
$
29,803,478
    
$
–
    
$
–
    
$
29,803,478
  
Total Investments
  
$
29,803,478
    
$
–
    
$
–
    
$
29,803,478
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.