Grizzle Growth ETF
 
Schedule of Investments
 
April 30, 2022 (Unaudited)
 
   
Shares
   
Value
 
COMMON STOCKS — 97.9%
           
Basic Materials - 21.0%
           
Albermarle Corp.
   
117
   
$
22,561
 
BHP Group Ltd. - ADR (b)
   
252
     
16,879
 
Century Aluminum Co. (a)
   
1,453
     
24,512
 
Danimer Scientific, Inc. (a)
   
2,047
     
8,025
 
Hudbay Minerals, Inc. (b)
   
1,548
     
9,907
 
Largo, Inc. (a)(b)
   
568
     
4,754
 
Lithium Americas Corp. (a)(b)
   
370
     
9,309
 
Lyondell Basell Industries NV - Class A (b)
   
168
     
17,813
 
Rio Tinto PLC - ADR (b)
   
240
     
17,069
 
Sierra Metals, Inc. (b)
   
3,512
     
3,547
 
Sociedad Quimica y Minera de Chile SA - ADR (b)
   
1,377
     
101,623
 
Vale SA - ADR (b)
   
625
     
10,556
 
             
246,555
 
Communications - 14.2%
               
Airbnb, Inc. - Class A (a)
   
266
     
40,754
 
Alphabet, Inc. - Class A (a)
   
25
     
57,055
 
Amazon.com, Inc. (a)
   
11
     
27,342
 
Lyft, Inc. - Class A (a)
   
100
     
3,260
 
Roku, Inc. (a)
   
62
     
5,760
 
Twitter, Inc. (a)
   
206
     
10,098
 
The Walt Disney Co. (a)
   
196
     
21,879
 
             
166,148
 
Consumer, Cyclical - 4.7%
               
Carvana Co. (a)
   
37
     
2,144
 
Dutch Bros, Inc. - Class A (a)
   
40
     
1,911
 
Ford Motor Co.
   
1,092
     
15,463
 
Peloton Interactive, Inc. - Class A (a)
   
270
     
4,741
 
Penn National Gaming, Inc. (a)
   
608
     
22,235
 
Tesla, Inc. (a)
   
10
     
8,708
 
             
55,202
 
Consumer, Non-Cyclical - 3.1%
               
ATAI Life Sciences NV (a)(b)
   
690
     
2,960
 
Beyond Meat, Inc. (a)
   
131
     
4,831
 
Compass Pathways PLC - ADR (a)(b)
   
351
     
3,180
 
CVS Health Group
   
271
     
26,051
 
             
37,022
 
Energy - 32.4% (d)
               
ARC Resources Ltd. (b)
   
525
     
7,279
 
Chevron Corp.
   
226
     
35,407
 
Comstock Resources, Inc. (a)
   
3,988
     
67,916
 
EQT Corp.
   
1,243
     
49,409
 
Patterson-UTI Energy, Inc.
   
701
     
11,524
 
Range Resources Corp. (a)
   
1,462
     
43,772
 
Schlumberger NV (b)
   
227
     
8,855
 
Shell PLC - ADR (b)
   
666
     
35,584
 
SilverBow Resources, Inc. (a)
   
1,580
     
57,828
 
Southwestern Energy Co. (a)
   
8,285
     
62,138
 
             
379,712
 
Financial - 6.8%
               
Galaxy Digital Holdings Ltd. (b)
   
390
     
4,265
 
Mastercard, Inc. - Class A
   
138
     
50,147
 
Visa, Inc. - Class A
   
117
     
24,936
 
             
79,348
 
Technology - 15.7%
               
Activision Blizzard, Inc.
   
200
     
15,120
 
Adobe, Inc. (a)
   
103
     
40,783
 
Apple, Inc.
   
226
     
35,629
 
Crowdstrike Holdings, Inc. - Class A (a)
   
86
     
17,093
 
eGain Corp. (a)
   
891
     
9,222
 
EverCommerce, Inc. (a)
   
706
     
8,740
 
Microsoft Corp.
   
111
     
30,805
 
Verint Systems, Inc. (a)
   
173
     
9,439
 
WM Technology, Inc. (a)
   
1,560
     
9,048
 
Wolfspeed, Inc. (a)
   
67
     
6,145
 
Zoom Video Communications, Inc. - Class A (a)
   
27
     
2,688
 
             
184,712
 
TOTAL COMMON STOCKS (Cost $1,149,516)
           
1,148,699
 
                 
MONEY MARKET FUNDS — 1.5%
               
First American Government Obligations Fund - Class X, 0.22% (c)
   
8,848
     
8,848
 
First American Treasury Obligations Fund - Class X, 0.29% (c)
   
8,848
     
8,848
 
TOTAL MONEY MARKET FUNDS (Cost $17,696)
           
17,696
 
                 
Total Investments (Cost $1,167,212) — 99.4%
           
1,166,395
 
Other assets and liabilities, net — 0.6%
           
6,549
 
 TOTAL NET ASSETS — 100.0%
         
$
1,172,944
 

Percentages are stated as a percent of net assets.
       
                 
ADR
American Depositary Receipt
     
PLC
Public Limited Company
     
(a)
Non-income producing security.
     
(b)
Foreign issued security.
     
(c)
The rate shown is the seven-day yield at period end.
     
(d)
To the extent that the Fund invests more heavily in particular industry groups of the economy, its performance will be especially sensitive to developments that significantly affect those industry groups or strategies.
     

Fair Value Measurements
             
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels.
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
                 
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3.
                 
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of April 30, 2022:

   
Level 1
   
Level 2
   
Level 3
   
Total
Investments - Assets:
                     
Common Stocks*
 
$
1,148,699
   
$
-
   
$
-
   
$
1,148,699
Money Market Funds
   
17,696
     
-
     
-
     
17,696
Total Investments - Assets
 
$
1,166,395
   
$
-
   
$
-
   
$
1,166,395
                               
* See the Schedule of Investments for industry classifications.