# EDGAR Filing Document

**Accession Number:** 0001831313
**File Stem:** 0001752724-23-051570
**Filing Date:** 2023-3
**Character Count:** 53885
**Document Hash:** b6aaa59dc7e6644be354a81d536a9bb6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-051570.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001752724-23-051570

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Engine No. 1 ETF Trust
- **CENTRAL INDEX KEY:** 0001831313
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23617
- **FILM NUMBER:** 23721901

**BUSINESS ADDRESS:**
- **STREET 1:** 850 NEW BURTON ROAD, SUITE 201
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19904
- **BUSINESS PHONE:** (212) 756-2000

**MAIL ADDRESS:**
- **STREET 1:** 850 NEW BURTON ROAD, SUITE 201
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19904

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Deer Lane ETF Trust
- **DATE OF NAME CHANGE:** 20201104

## Series and Classes Contracts Data

### Engine No. 1 Transform Climate ETF (Series ID: S000072458)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000228741 | Engine No. 1 Transform Climate ETF | NETZ            |

## Nport-Ex

---

| | |
|:---|:---|
| **Schedule of Investments**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS - 99.8%** | **COMMON STOCKS - 99.8%** | **COMMON STOCKS - 99.8%** |
| **Aerospace & Defense - 1.8%** | **Aerospace & Defense - 1.8%** | **Aerospace & Defense - 1.8%** |
| Boeing Co.\* | 6451 | $1374063 |
| General Dynamics Corp. | 2592 | 604092 |
| HEICO Corp. | 456 | 77953 |
| HEICO Corp., Class A | 805 | 107612 |
| Howmet Aerospace, Inc. | 4246 | 172770 |
| L3Harris Technologies, Inc. | 2192 | 470885 |
| Lockheed Martin Corp. | 2687 | 1244780 |
| Northrop Grumman Corp. | 1669 | 747779 |
| Raytheon Technologies Corp. | 16934 | 1690859 |
| Textron, Inc. | 2403 | 175059 |
| TransDigm Group, Inc. | 594 | 426344 |
|  |  | 7092196 |
| **Air Freight & Logistics - 0.6%** | **Air Freight & Logistics - 0.6%** | **Air Freight & Logistics - 0.6%** |
| Expeditors International of Washington, Inc. | 1833 | 198239 |
| FedEx Corp. | 2755 | 534084 |
| United Parcel Service, Inc., Class B | 8407 | 1557229 |
|  |  | 2289552 |
| **Airlines - 0.2%** | **Airlines - 0.2%** | **Airlines - 0.2%** |
| Delta Air Lines, Inc.\* | 7384 | 288714 |
| Southwest Airlines Co. | 6840 | 244667 |
| United Airlines Holdings, Inc.\* | 3768 | 184481 |
|  |  | 717862 |
| **Auto Components - 0.1%** | **Auto Components - 0.1%** | **Auto Components - 0.1%** |
| Aptiv plc\* | 3120 | 352841 |
| **Automobiles - 1.7%** | **Automobiles - 1.7%** | **Automobiles - 1.7%** |
| Ford Motor Co. | 45469 | 614286 |
| General Motors Co. | 16364 | 643432 |
| Lucid Group, Inc.\*†† | 6757 | 78989 |
| Rivian Automotive, Inc., Class A\* | 6301 | 122239 |
| Tesla, Inc.\* | 30923 | 5356483 |
|  |  | 6815429 |
| **Banks - 3.8%** | **Banks - 3.8%** | **Banks - 3.8%** |
| Bank of America Corp. | 80402 | 2852662 |
| Citigroup, Inc. | 22314 | 1165237 |
| Citizens Financial Group, Inc. | 5674 | 245798 |
| Fifth Third Bancorp | 7906 | 286909 |
| First Republic Bank | 2109 | 297116 |
| Huntington Bancshares, Inc. | 16621 | 252141 |
| JPMorgan Chase & Co. | 33792 | 4729527 |
| KeyCorp | 10735 | 206005 |
| M&T Bank Corp. | 1989 | 310284 |
| PNC Financial Services Group, Inc. (The) | 4648 | 768919 |
| Regions Financial Corp. | 10763 | 253361 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Value** | **Value** |
| SVB Financial Group\* | 681 | $| 205962 |
| Truist Financial Corp. | 15286 |  | 754976 |
| US Bancorp | 15580 |  | 775884 |
| Wells Fargo & Co. | 43901 |  | 2057640 |
|  |  |  | 15162421 |
| **Beverages - 1.7%** | **Beverages - 1.7%** | **Beverages - 1.7%** | **Beverages - 1.7%** |
| Brown-Forman Corp., Class B | 2110 |  | 140484 |
| Coca-Cola Co. | 44841 |  | 2749651 |
| Constellation Brands, Inc., Class A | 1868 |  | 432479 |
| Keurig Dr Pepper, Inc. | 9794 |  | 345532 |
| Monster Beverage Corp.\* | 4385 |  | 456391 |
| PepsiCo, Inc. | 15873 |  | 2714600 |
|  |  |  | 6839137 |
| **Biotechnology - 2.5%** | **Biotechnology - 2.5%** | **Biotechnology - 2.5%** | **Biotechnology - 2.5%** |
| AbbVie, Inc. | 20371 |  | 3009816 |
| Alnylam Pharmaceuticals, Inc.\* | 1417 |  | 320809 |
| Amgen, Inc. | 6145 |  | 1550998 |
| Biogen, Inc.\* | 1660 |  | 482894 |
| BioMarin Pharmaceutical, Inc.\* | 2140 |  | 246849 |
| Gilead Sciences, Inc. | 14449 |  | 1212849 |
| Horizon Therapeutics plc\* | 2607 |  | 286040 |
| Incyte Corp.\* | 2124 |  | 180837 |
| Moderna, Inc.\* | 3807 |  | 670260 |
| Regeneron Pharmaceuticals, Inc.\* | 1235 |  | 936710 |
| Seagen, Inc.\* | 1583 |  | 220797 |
| Vertex Pharmaceuticals, Inc.\* | 2957 |  | 955407 |
|  |  |  | 10074266 |
| **Building Products - 0.4%** | **Building Products - 0.4%** | **Building Products - 0.4%** | **Building Products - 0.4%** |
| Carrier Global Corp. | 9633 |  | 438590 |
| Johnson Controls International plc | 7934 |  | 551969 |
| Masco Corp. | 2599 |  | 138267 |
| Trane Technologies plc | 2654 |  | 475384 |
|  |  |  | 1604210 |
| **Capital Markets - 3.4%** | **Capital Markets - 3.4%** | **Capital Markets - 3.4%** | **Capital Markets - 3.4%** |
| Ameriprise Financial, Inc. | 1227 |  | 429597 |
| Bank of New York Mellon Corp. (The) | 8472 |  | 428429 |
| BlackRock, Inc., Class A | 1729 |  | 1312674 |
| Blackstone, Inc. | 8086 |  | 775933 |
| Carlyle Group, Inc. (The) | 2514 |  | 90429 |
| Charles Schwab Corp. (The) | 17574 |  | 1360579 |
| CME Group, Inc., Class A | 4143 |  | 731902 |
| FactSet Research Systems, Inc. | 438 |  | 185248 |
| Goldman Sachs Group, Inc. (The) | 3899 |  | 1426293 |
| Intercontinental Exchange, Inc. | 6434 |  | 691977 |
| KKR & Co., Inc. | 6644 |  | 370802 |
| LPL Financial Holdings, Inc. | 914 |  | 216728 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Value** | **Value** |
| MarketAxess Holdings, Inc. | 432 | $| 157183 |
| Moody's Corp. | 1816 |  | 586114 |
| Morgan Stanley | 15185 |  | 1477955 |
| MSCI, Inc., Class A | 919 |  | 488504 |
| Nasdaq, Inc. | 3911 |  | 235403 |
| Northern Trust Corp. | 2402 |  | 232922 |
| Raymond James Financial, Inc. | 2232 |  | 251703 |
| S&P Global, Inc. | 3836 |  | 1438269 |
| State Street Corp. | 4226 |  | 385961 |
| T Rowe Price Group, Inc. | 2573 |  | 299677 |
|  |  |  | 13574282 |
| **Chemicals - 1.9%** | **Chemicals - 1.9%** | **Chemicals - 1.9%** | **Chemicals - 1.9%** |
| Air Products & Chemicals, Inc. | 2554 |  | 818584 |
| Albemarle Corp. | 1345 |  | 378550 |
| Celanese Corp., Class A | 1146 |  | 141187 |
| CF Industries Holdings, Inc. | 2260 |  | 191422 |
| Corteva, Inc. | 8226 |  | 530166 |
| Dow, Inc. | 8104 |  | 480972 |
| DuPont de Nemours, Inc. | 5723 |  | 423216 |
| Eastman Chemical Co. | 1385 |  | 122115 |
| Ecolab, Inc. | 2852 |  | 441575 |
| FMC Corp. | 1449 |  | 192905 |
| International Flavors & Fragrances, Inc. | 2938 |  | 330407 |
| Linde plc | 5694 |  | 1884373 |
| LyondellBasell Industries NV, Class A | 2929 |  | 283205 |
| Mosaic Co. | 3918 |  | 194098 |
| PPG Industries, Inc. | 2709 |  | 353091 |
| Sherwin-Williams Co. | 2716 |  | 642578 |
| Westlake Corp. | 397 |  | 48732 |
|  |  |  | 7457176 |
| **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** |
| Cintas Corp. | 994 |  | 441078 |
| Copart, Inc.\* | 4937 |  | 328854 |
| Republic Services, Inc., Class A | 2367 |  | 295449 |
| Rollins, Inc. | 2664 |  | 96970 |
| Waste Management, Inc. | 4299 |  | 665183 |
|  |  |  | 1827534 |
| **Communications Equipment - 0.8%** | **Communications Equipment - 0.8%** | **Communications Equipment - 0.8%** | **Communications Equipment - 0.8%** |
| Arista Networks, Inc.\* | 2849 |  | 359031 |
| Cisco Systems, Inc. (Delaware) | 47303 |  | 2302237 |
| Motorola Solutions, Inc. | 1929 |  | 495772 |
|  |  |  | 3157040 |
| **Construction & Engineering - 0.1%** | **Construction & Engineering - 0.1%** | **Construction & Engineering - 0.1%** | **Construction & Engineering - 0.1%** |
| Quanta Services, Inc. | 1649 |  | 250961 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Construction Materials - 0.1%** | **Construction Materials - 0.1%** | **Construction Materials - 0.1%** |
| Martin Marietta Materials, Inc. | 716 | $257502 |
| Vulcan Materials Co. | 1532 | 280862 |
|  |  | 538364 |
| **Consumer Finance - 0.6%** | **Consumer Finance - 0.6%** | **Consumer Finance - 0.6%** |
| American Express Co. | 6890 | 1205267 |
| Capital One Financial Corp. | 4396 | 523124 |
| Discover Financial Services | 3146 | 367233 |
| Synchrony Financial | 5194 | 190776 |
|  |  | 2286400 |
| **Containers & Packaging - 0.2%** | **Containers & Packaging - 0.2%** | **Containers & Packaging - 0.2%** |
| Amcor plc | 17159 | 206938 |
| Avery Dennison Corp. | 935 | 177126 |
| Ball Corp. | 3616 | 210596 |
| Crown Holdings, Inc. | 1380 | 121661 |
| International Paper Co. | 4103 | 171587 |
|  |  | 887908 |
| **Distributors - 0.2%** | **Distributors - 0.2%** | **Distributors - 0.2%** |
| Genuine Parts Co. | 1621 | 272036 |
| LKQ Corp. | 2927 | 172576 |
| Pool Corp. | 448 | 172753 |
|  |  | 617365 |
| **Diversified Financial Services - 1.7%** | **Diversified Financial Services - 1.7%** | **Diversified Financial Services - 1.7%** |
| Apollo Global Management, Inc. | 5004 | 354183 |
| Berkshire Hathaway, Inc., Class B\* | 20756 | 6465909 |
|  |  | 6820092 |
| **Diversified Telecommunication Services - 0.9%** | **Diversified Telecommunication Services - 0.9%** | **Diversified Telecommunication Services - 0.9%** |
| AT&T, Inc. | 82101 | 1672397 |
| Verizon Communications, Inc. | 48387 | 2011448 |
|  |  | 3683845 |
| **Electric Utilities - 1.8%** | **Electric Utilities - 1.8%** | **Electric Utilities - 1.8%** |
| American Electric Power Co., Inc. | 5921 | 556337 |
| Avangrid, Inc. | 805 | 33947 |
| Constellation Energy Corp. | 3770 | 321807 |
| Duke Energy Corp. | 8865 | 908219 |
| Edison International | 4397 | 302953 |
| Entergy Corp. | 2349 | 254350 |
| Evergy, Inc. | 2645 | 165709 |
| Eversource Energy | 4008 | 329979 |
| Exelon Corp. | 11445 | 482865 |
| FirstEnergy Corp. | 6252 | 256019 |
| NextEra Energy, Inc. | 22891 | 1708355 |
| PG&E Corp.\* | 18523 | 294516 |
| PPL Corp. | 8481 | 251038 |
| Southern Co. | 12540 | 848707 |
| Xcel Energy, Inc. | 6303 | 433457 |
|  |  | 7148258 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Electrical Equipment - 0.5%** | **Electrical Equipment - 0.5%** | **Electrical Equipment - 0.5%** |
| AMETEK, Inc. | 2646 | $383458 |
| Eaton Corp. plc | 4578 | 742597 |
| Emerson Electric Co. | 6812 | 614579 |
| Rockwell Automation, Inc. | 1320 | 372280 |
|  |  | 2112914 |
| **Electronic Equipment, Instruments & Components - 0.6%** | **Electronic Equipment, Instruments & Components - 0.6%** | **Electronic Equipment, Instruments & Components - 0.6%** |
| Amphenol Corp., Class A | 6852 | 546583 |
| CDW Corp. | 1560 | 305807 |
| Corning, Inc. | 8770 | 303530 |
| Keysight Technologies, Inc.\* | 2055 | 368564 |
| TE Connectivity Ltd. | 3665 | 466005 |
| Teledyne Technologies, Inc.\* | 541 | 229525 |
| Trimble, Inc.\* | 2836 | 164658 |
| Zebra Technologies Corp., Class A\* | 594 | 187811 |
|  |  | 2572483 |
| **Energy Equipment & Services - 0.4%** | **Energy Equipment & Services - 0.4%** | **Energy Equipment & Services - 0.4%** |
| Baker Hughes Co., Class A | 11538 | 366216 |
| Halliburton Co. | 10458 | 431079 |
| Schlumberger Ltd. | 16335 | 930768 |
|  |  | 1728063 |
| **Entertainment - 1.4%** | **Entertainment - 1.4%** | **Entertainment - 1.4%** |
| Activision Blizzard, Inc. | 8205 | 628257 |
| Electronic Arts, Inc. | 3019 | 388485 |
| Live Nation Entertainment, Inc.\* | 1650 | 132809 |
| Netflix, Inc.\* | 5126 | 1813886 |
| ROBLOX Corp., Class A\* | 4170 | 155166 |
| Take-Two Interactive Software, Inc.\* | 1819 | 205965 |
| Walt Disney Co.\* | 21003 | 2278615 |
|  |  | 5603183 |
| **Equity Real Estate Investment Trusts (REITs) - 2.6%** | **Equity Real Estate Investment Trusts (REITs) - 2.6%** | **Equity Real Estate Investment Trusts (REITs) - 2.6%** |
| Alexandria Real Estate Equities, Inc. | 1719 | 276312 |
| American Tower Corp. | 5366 | 1198711 |
| AvalonBay Communities, Inc. | 1609 | 285501 |
| Boston Properties, Inc. | 1641 | 122320 |
| Crown Castle, Inc. | 4989 | 738921 |
| Digital Realty Trust, Inc. | 3310 | 379392 |
| Equinix, Inc. | 1069 | 789061 |
| Equity Residential | 3921 | 249572 |
| Essex Property Trust, Inc. | 745 | 168422 |
| Extra Space Storage, Inc. | 1543 | 243532 |
| Healthpeak Properties, Inc. | 6195 | 170239 |
| Invitation Homes, Inc. | 6679 | 217068 |
| Iron Mountain, Inc. | 3350 | 182843 |
| Mid-America Apartment Communities, Inc. | 1326 | 221071 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Value** | **Value** |
| Prologis, Inc. | 10635 | $| 1374892 |
| Public Storage | 1821 |  | 554203 |
| Realty Income Corp. | 7220 |  | 489733 |
| SBA Communications Corp., Class A | 1244 |  | 370127 |
| Simon Property Group, Inc. | 3768 |  | 484037 |
| Sun Communities, Inc. | 1426 |  | 223682 |
| Ventas, Inc. | 4603 |  | 238481 |
| VICI Properties, Inc., Class A | 11087 |  | 378954 |
| Welltower, Inc. | 5440 |  | 408218 |
| Weyerhaeuser Co. | 8479 |  | 291932 |
| WP Carey, Inc. | 2393 |  | 204673 |
|  |  |  | 10261897 |
| **Food & Staples Retailing - 1.5%** | **Food & Staples Retailing - 1.5%** | **Food & Staples Retailing - 1.5%** | **Food & Staples Retailing - 1.5%** |
| Costco Wholesale Corp. | 5100 |  | 2606813 |
| Kroger Co. | 7501 |  | 334770 |
| Sysco Corp. | 5836 |  | 452057 |
| Walgreens Boots Alliance, Inc. | 8271 |  | 304869 |
| Walmart, Inc. | 16262 |  | 2339614 |
|  |  |  | 6038123 |
| **Food Products - 1.1%** | **Food Products - 1.1%** | **Food Products - 1.1%** | **Food Products - 1.1%** |
| Archer-Daniels-Midland Co. | 6333 |  | 524689 |
| Bunge Ltd. | 1726 |  | 171047 |
| Campbell Soup Co. | 2309 |  | 119906 |
| Conagra Brands, Inc. | 5521 |  | 205326 |
| General Mills, Inc. | 6833 |  | 535434 |
| Hershey Co. | 1693 |  | 380248 |
| Hormel Foods Corp. | 3324 |  | 150610 |
| J M Smucker Co. | 1229 |  | 187791 |
| Kellogg Co. | 2949 |  | 202242 |
| Kraft Heinz Co. | 9169 |  | 371620 |
| McCormick & Co., Inc. | 2879 |  | 216270 |
| Mondelez International, Inc., Class A | 15735 |  | 1029699 |
| Tyson Foods, Inc., Class A | 3340 |  | 219605 |
|  |  |  | 4314487 |
| **Gas Utilities - 0.0%†** | **Gas Utilities - 0.0%†** | **Gas Utilities - 0.0%†** | **Gas Utilities - 0.0%†** |
| Atmos Energy Corp. | 1611 |  | 189357 |
| **Health Care Equipment & Supplies - 2.7%** | **Health Care Equipment & Supplies - 2.7%** | **Health Care Equipment & Supplies - 2.7%** | **Health Care Equipment & Supplies - 2.7%** |
| Abbott Laboratories | 20083 |  | 2220177 |
| Align Technology, Inc.\* | 836 |  | 225494 |
| Baxter International, Inc. | 5803 |  | 265139 |
| Becton Dickinson & Co. | 3283 |  | 828038 |
| Boston Scientific Corp.\* | 16502 |  | 763218 |
| Cooper Cos, Inc. (The) | 567 |  | 197843 |
| Dexcom, Inc.\* | 4449 |  | 476443 |
| Edwards Lifesciences Corp.\* | 7116 |  | 545797 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Value** | **Value** |
| Hologic, Inc.\* | 2874 | $| 233857 |
| IDEXX Laboratories, Inc.\* | 956 |  | 459358 |
| Insulet Corp.\* | 801 |  | 230143 |
| Intuitive Surgical, Inc.\* | 4073 |  | 1000695 |
| Medtronic plc | 15314 |  | 1281629 |
| ResMed, Inc. | 1688 |  | 385489 |
| STERIS plc | 1150 |  | 237487 |
| Stryker Corp. | 3878 |  | 984275 |
| Teleflex, Inc. | 540 |  | 131447 |
| Zimmer Biomet Holdings, Inc. | 2418 |  | 307908 |
|  |  |  | 10774437 |
| **Health Care Providers & Services - 3.2%** | **Health Care Providers & Services - 3.2%** | **Health Care Providers & Services - 3.2%** | **Health Care Providers & Services - 3.2%** |
| AmerisourceBergen Corp., Class A | 1866 |  | 315279 |
| Cardinal Health, Inc. | 3019 |  | 233218 |
| Centene Corp.\* | 6526 |  | 497542 |
| Cigna Corp. | 3523 |  | 1115628 |
| CVS Health Corp. | 15138 |  | 1335474 |
| Elevance Health, Inc. | 2749 |  | 1374473 |
| HCA Healthcare, Inc. | 2440 |  | 622371 |
| Humana, Inc. | 1456 |  | 745035 |
| Laboratory Corp. of America Holdings | 1020 |  | 257162 |
| McKesson Corp. | 1637 |  | 619899 |
| Molina Healthcare, Inc.\* | 673 |  | 209862 |
| Quest Diagnostics, Inc. | 1311 |  | 194657 |
| UnitedHealth Group, Inc. | 10765 |  | 5373781 |
|  |  |  | 12894381 |
| **Health Care Technology - 0.1%** | **Health Care Technology - 0.1%** | **Health Care Technology - 0.1%** | **Health Care Technology - 0.1%** |
| Veeva Systems, Inc., Class A\* | 1616 |  | 275609 |
| **Hotels, Restaurants & Leisure - 2.1%** | **Hotels, Restaurants & Leisure - 2.1%** | **Hotels, Restaurants & Leisure - 2.1%** | **Hotels, Restaurants & Leisure - 2.1%** |
| Airbnb, Inc., Class A\* | 4587 |  | 509662 |
| Booking Holdings, Inc.\* | 446 |  | 1085609 |
| Caesars Entertainment, Inc.\* | 2469 |  | 128536 |
| Carnival Corp.\* | 11536 |  | 124820 |
| Chipotle Mexican Grill, Inc., Class A\* | 318 |  | 523549 |
| Darden Restaurants, Inc. | 1408 |  | 208342 |
| Domino's Pizza, Inc. | 408 |  | 144024 |
| Expedia Group, Inc.\* | 1734 |  | 198196 |
| Hilton Worldwide Holdings, Inc. | 3114 |  | 451810 |
| Las Vegas Sands Corp.\* | 3782 |  | 223138 |
| Marriott International, Inc., Class A | 3098 |  | 539610 |
| McDonald's Corp. | 8435 |  | 2255518 |
| MGM Resorts International | 3668 |  | 151892 |
| Royal Caribbean Cruises Ltd.\* | 2527 |  | 164103 |
| Starbucks Corp. | 13222 |  | 1443049 |
| Yum! Brands, Inc. | 3244 |  | 423374 |
|  |  |  | 8575232 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Household Durables - 0.3%** | **Household Durables - 0.3%** | **Household Durables - 0.3%** |
| DR Horton, Inc. | 3600 | $355284 |
| Garmin Ltd. | 1764 | 174424 |
| Lennar Corp., Class A | 2935 | 300544 |
| NVR, Inc.\* | 35 | 184450 |
|  |  | 1014702 |
| **Household Products - 1.4%** | **Household Products - 1.4%** | **Household Products - 1.4%** |
| Church & Dwight Co., Inc. | 2809 | 227136 |
| Clorox Co. | 1422 | 205749 |
| Colgate-Palmolive Co. | 9624 | 717277 |
| Kimberly-Clark Corp. | 3884 | 504959 |
| Procter & Gamble Co. | 27299 | 3886831 |
|  |  | 5541952 |
| **Independent Power & Renewable Electricity Producers - 0.1%** | **Independent Power & Renewable Electricity Producers - 0.1%** | **Independent Power & Renewable Electricity Producers - 0.1%** |
| AES Corp. (The) | 7694 | 210893 |
| **Industrial Conglomerates - 0.8%** | **Industrial Conglomerates - 0.8%** | **Industrial Conglomerates - 0.8%** |
| 3M Co. | 6368 | 732829 |
| General Electric Co. | 12592 | 1013404 |
| Honeywell International, Inc. | 7748 | 1615304 |
|  |  | 3361537 |
| **Insurance - 2.3%** | **Insurance - 2.3%** | **Insurance - 2.3%** |
| Aflac, Inc. | 6517 | 479000 |
| Allstate Corp. (The) | 3058 | 392861 |
| American International Group, Inc. | 8557 | 540974 |
| Aon plc, Class A | 2383 | 759414 |
| Arch Capital Group Ltd.\* | 4260 | 274131 |
| Arthur J Gallagher & Co. | 2428 | 475208 |
| Brown & Brown, Inc. | 2709 | 158639 |
| Chubb Ltd. | 4784 | 1088313 |
| Cincinnati Financial Corp. | 1810 | 204802 |
| Hartford Financial Services Group, Inc. (The) | 3664 | 284363 |
| Markel Corp.\* | 154 | 216983 |
| Marsh & McLennan Cos, Inc. | 5710 | 998736 |
| MetLife, Inc. | 7588 | 554076 |
| Principal Financial Group, Inc. | 2620 | 242481 |
| Progressive Corp. (The) | 6738 | 918726 |
| Prudential Financial, Inc. | 4242 | 445155 |
| Travelers Cos, Inc. (The) | 2701 | 516215 |
| W R Berkley Corp. | 2360 | 165530 |
| Willis Towers Watson plc | 1249 | 317483 |
|  |  | 9033090 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Interactive Media & Services - 4.3%** | **Interactive Media & Services - 4.3%** | **Interactive Media & Services - 4.3%** |
| Alphabet, Inc., Class A\* | 68815 | $6801674 |
| Alphabet, Inc., Class C\* | 61001 | 6092170 |
| Match Group, Inc.\* | 3219 | 174212 |
| Meta Platforms, Inc., Class A\* | 25901 | 3858472 |
| Pinterest, Inc., Class A\* | 6768 | 177931 |
| Snap, Inc., Class A\* | 11576 | 133819 |
| ZoomInfo Technologies, Inc., Class A\* | 3107 | 87711 |
|  |  | 17325989 |
| **Internet & Direct Marketing Retail - 3.0%** | **Internet & Direct Marketing Retail - 3.0%** | **Internet & Direct Marketing Retail - 3.0%** |
| Amazon.com, Inc.\* | 102236 | 10543598 |
| Coupang, Inc., Class A\* | 11768 | 198762 |
| DoorDash, Inc., Class A\* | 3027 | 175324 |
| eBay, Inc. | 6249 | 309326 |
| Etsy, Inc.\* | 1447 | 199078 |
| MercadoLibre, Inc.\* | 535 | 632204 |
|  |  | 12058292 |
| **IT Services - 4.6%** | **IT Services - 4.6%** | **IT Services - 4.6%** |
| Accenture plc, Class A | 7258 | 2025345 |
| Akamai Technologies, Inc.\* | 1814 | 161355 |
| Automatic Data Processing, Inc. | 4782 | 1079823 |
| Block, Inc., Class A\* | 6196 | 506337 |
| Broadridge Financial Solutions, Inc. | 1357 | 204039 |
| Cloudflare, Inc., Class A\* | 3274 | 173227 |
| Cognizant Technology Solutions Corp., Class A | 5921 | 395227 |
| EPAM Systems, Inc.\* | 665 | 221212 |
| Fidelity National Information Services, Inc. | 6836 | 512973 |
| Fiserv, Inc.\* | 7319 | 780791 |
| FleetCor Technologies, Inc.\* | 849 | 177280 |
| Gartner, Inc.\* | 908 | 307031 |
| Global Payments, Inc. | 3114 | 351010 |
| GoDaddy, Inc., Class A\* | 1786 | 146684 |
| International Business Machines Corp. | 10413 | 1402943 |
| Mastercard, Inc., Class A | 9781 | 3624839 |
| MongoDB, Inc., Class A\* | 795 | 170297 |
| Paychex, Inc. | 3694 | 427987 |
| PayPal Holdings, Inc.\* | 13129 | 1069882 |
| Snowflake, Inc., Class A\* | 3280 | 513123 |
| SS&C Technologies Holdings, Inc. | 2522 | 152203 |
| VeriSign, Inc.\* | 1059 | 230915 |
| Visa, Inc., Class A | 18838 | 4336697 |
|  |  | 18971220 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Life Sciences Tools & Services - 1.8%** | **Life Sciences Tools & Services - 1.8%** | **Life Sciences Tools & Services - 1.8%** |
| Agilent Technologies, Inc. | 3409 | $518441 |
| Avantor, Inc.\* | 7761 | 185488 |
| Bio-Rad Laboratories, Inc., Class A\* | 250 | 116865 |
| Danaher Corp. | 7546 | 1995011 |
| Illumina, Inc.\* | 1813 | 388345 |
| IQVIA Holdings, Inc.\* | 2139 | 490708 |
| Mettler-Toledo International, Inc.\* | 258 | 395493 |
| PerkinElmer, Inc. | 1454 | 199969 |
| Thermo Fisher Scientific, Inc. | 4519 | 2577321 |
| Waters Corp.\* | 685 | 225077 |
| West Pharmaceutical Services, Inc. | 853 | 226557 |
|  |  | 7319275 |
| **Machinery - 1.7%** | **Machinery - 1.7%** | **Machinery - 1.7%** |
| Caterpillar, Inc. | 5994 | 1512226 |
| Cummins, Inc. | 1621 | 404504 |
| Deere & Co. | 3162 | 1337020 |
| Dover Corp. | 1615 | 245205 |
| Fortive Corp. | 4076 | 277290 |
| IDEX Corp. | 868 | 208042 |
| Illinois Tool Works, Inc. | 3221 | 760285 |
| Ingersoll Rand, Inc. | 4665 | 261240 |
| Otis Worldwide Corp. | 4799 | 394622 |
| PACCAR, Inc. | 4006 | 437896 |
| Parker-Hannifin Corp. | 1476 | 481176 |
| Stanley Black & Decker, Inc. | 1705 | 152274 |
| Westinghouse Air Brake Technologies Corp. | 2097 | 217690 |
| Xylem, Inc./NY | 2080 | 216341 |
|  |  | 6905811 |
| **Media - 0.9%** | **Media - 0.9%** | **Media - 0.9%** |
| Charter Communications, Inc., Class A\* | 1239 | 476160 |
| Comcast Corp., Class A | 49702 | 1955774 |
| Fox Corp., Class A | 3493 | 118552 |
| Fox Corp., Class B | 1605 | 50879 |
| Liberty Broadband Corp., Class A\* | 185 | 16580 |
| Liberty Broadband Corp., Class C\* | 1381 | 123986 |
| Liberty Media Corp.-Liberty SiriusXM | 856 | 34771 |
| Liberty Media Corp.-Liberty SiriusXM\* | 1756 | 70767 |
| Omnicom Group, Inc. | 2351 | 202162 |
| Paramount Global, Class B | 5808 | 134513 |
| Sirius XM Holdings, Inc.†† | 8042 | 46563 |
| Trade Desk, Inc. (The), Class A\* | 5130 | 260091 |
|  |  | 3490798 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Metals & Mining - 0.5%** | **Metals & Mining - 0.5%** | **Metals & Mining - 0.5%** |
| Freeport-McMoRan, Inc. | 16465 | $734668 |
| Newmont Corp. | 9133 | 483410 |
| Nucor Corp. | 2957 | 499792 |
| Southern Copper Corp. | 981 | 73781 |
| Steel Dynamics, Inc. | 1922 | 231870 |
|  |  | 2023521 |
| **Multiline Retail - 0.5%** | **Multiline Retail - 0.5%** | **Multiline Retail - 0.5%** |
| Dollar General Corp. | 2597 | 606659 |
| Dollar Tree, Inc.\* | 2424 | 364036 |
| Target Corp. | 5297 | 911826 |
|  |  | 1882521 |
| **Multi-Utilities - 0.8%** | **Multi-Utilities - 0.8%** | **Multi-Utilities - 0.8%** |
| Ameren Corp. | 2977 | 258612 |
| CenterPoint Energy, Inc. | 7240 | 218069 |
| CMS Energy Corp. | 3348 | 211560 |
| Consolidated Edison, Inc. | 4087 | 389532 |
| Dominion Energy, Inc. | 9604 | 611198 |
| DTE Energy Co. | 2231 | 259621 |
| Public Service Enterprise Group, Inc. | 5743 | 355664 |
| Sempra Energy | 3617 | 579914 |
| WEC Energy Group, Inc. | 3635 | 341654 |
|  |  | 3225824 |
| **Oil, Gas & Consumable Fuels - 4.6%** | **Oil, Gas & Consumable Fuels - 4.6%** | **Oil, Gas & Consumable Fuels - 4.6%** |
| APA Corp. | 3700 | 164021 |
| Cheniere Energy, Inc. | 2865 | 437743 |
| Chevron Corp. | 20491 | 3565845 |
| ConocoPhillips | 14355 | 1749444 |
| Coterra Energy, Inc. | 9078 | 227222 |
| Devon Energy Corp. | 7527 | 476007 |
| Diamondback Energy, Inc. | 2025 | 295893 |
| EOG Resources, Inc. | 6769 | 895200 |
| EQT Corp. | 4233 | 138292 |
| Exxon Mobil Corp. | 47444 | 5503979 |
| Hess Corp. | 3191 | 479161 |
| Kinder Morgan, Inc. | 22765 | 416600 |
| Marathon Oil Corp. | 7298 | 200476 |
| Marathon Petroleum Corp. | 5400 | 694008 |
| Occidental Petroleum Corp. | 8380 | 542940 |
| ONEOK, Inc. | 5144 | 352261 |
| Phillips 66 | 5441 | 545569 |
| Pioneer Natural Resources Co. | 2735 | 630007 |
| Targa Resources Corp. | 2601 | 195127 |
| Texas Pacific Land Corp. | 72 | 143701 |
| Valero Energy Corp. | 4441 | 621873 |
| Williams Cos, Inc. (The) | 14035 | 452488 |
|  |  | 18727857 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Personal Products - 0.2%** | **Personal Products - 0.2%** | **Personal Products - 0.2%** |
| Estee Lauder Cos, Inc. (The), Class A | 2665 | $738418 |
| **Pharmaceuticals - 4.3%** | **Pharmaceuticals - 4.3%** | **Pharmaceuticals - 4.3%** |
| Bristol-Myers Squibb Co. | 24498 | 1779780 |
| Eli Lilly & Co. | 9085 | 3126603 |
| Johnson & Johnson | 30119 | 4922046 |
| Merck & Co., Inc. | 29211 | 3137554 |
| Pfizer, Inc. | 64661 | 2855430 |
| Royalty Pharma plc, Class A | 4269 | 167302 |
| Viatris, Inc. | 13964 | 169802 |
| Zoetis, Inc., Class A | 5369 | 888516 |
|  |  | 17047033 |
| **Professional Services - 0.4%** | **Professional Services - 0.4%** | **Professional Services - 0.4%** |
| CoStar Group, Inc.\* | 4682 | 364729 |
| Equifax, Inc. | 1411 | 313524 |
| Jacobs Solutions, Inc. | 1467 | 181248 |
| Leidos Holdings, Inc. | 1572 | 155376 |
| TransUnion | 2219 | 159213 |
| Verisk Analytics, Inc., Class A | 1804 | 327949 |
|  |  | 1502039 |
| **Real Estate Management & Development - 0.1%** | **Real Estate Management & Development - 0.1%** | **Real Estate Management & Development - 0.1%** |
| CBRE Group, Inc., Class A\* | 3641 | 311342 |
| **Road & Rail - 1.0%** | **Road & Rail - 1.0%** | **Road & Rail - 1.0%** |
| CSX Corp. | 24223 | 748975 |
| JB Hunt Transport Services, Inc. | 954 | 180354 |
| Norfolk Southern Corp. | 2669 | 656067 |
| Old Dominion Freight Line, Inc. | 1041 | 346903 |
| Uber Technologies, Inc.\* | 22976 | 710648 |
| Union Pacific Corp. | 7084 | 1446481 |
|  |  | 4089428 |
| **Semiconductors & Semiconductor Equipment - 5.5%** | **Semiconductors & Semiconductor Equipment - 5.5%** | **Semiconductors & Semiconductor Equipment - 5.5%** |
| Advanced Micro Devices, Inc.\* | 18573 | 1395761 |
| Analog Devices, Inc. | 5927 | 1016303 |
| Applied Materials, Inc. | 9908 | 1104643 |
| Broadcom, Inc. | 4667 | 2730241 |
| Enphase Energy, Inc.\* | 1565 | 346460 |
| Entegris, Inc. | 1714 | 138337 |
| First Solar, Inc.\* | 1143 | 202997 |
| Intel Corp. | 47541 | 1343509 |
| KLA Corp. | 1636 | 642097 |
| Lam Research Corp. | 1570 | 785157 |
| Marvell Technology, Inc. | 9820 | 423733 |
| Microchip Technology, Inc. | 6335 | 491723 |
| Micron Technology, Inc. | 12523 | 755137 |
| Monolithic Power Systems, Inc. | 516 | 220105 |
| NVIDIA Corp. | 28684 | 5603992 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Investments** | **Shares** | **Value** | **Value** |
| NXP Semiconductors NV | 2984 | $| 549981 |
| ON Semiconductor Corp.\* | 4978 |  | 365634 |
| Qorvo, Inc.\* | 1165 |  | 126589 |
| QUALCOMM, Inc. | 12915 |  | 1720407 |
| Skyworks Solutions, Inc. | 1849 |  | 202780 |
| SolarEdge Technologies, Inc.\* | 646 |  | 206158 |
| Teradyne, Inc. | 1798 |  | 182857 |
| Texas Instruments, Inc. | 10458 |  | 1853262 |
|  |  |  | 22407863 |
| **Software - 8.9%** | **Software - 8.9%** | **Software - 8.9%** | **Software - 8.9%** |
| Adobe, Inc.\* | 5358 |  | 1984282 |
| ANSYS, Inc.\* | 1002 |  | 266893 |
| Aspen Technology, Inc.\* | 332 |  | 65985 |
| Atlassian Corp., Class A\* | 1709 |  | 276209 |
| Autodesk, Inc.\* | 2490 |  | 535748 |
| Bill.com Holdings, Inc.\* | 1096 |  | 126720 |
| Cadence Design Systems, Inc.\* | 3158 |  | 577377 |
| Crowdstrike Holdings, Inc., Class A\* | 2473 |  | 261891 |
| Datadog, Inc., Class A\* | 2854 |  | 213508 |
| DocuSign, Inc., Class A\* | 2314 |  | 140321 |
| Fair Isaac Corp.\* | 288 |  | 191794 |
| Fortinet, Inc.\* | 7470 |  | 390980 |
| Gen Digital, Inc. | 6682 |  | 153753 |
| HubSpot, Inc.\* | 559 |  | 193979 |
| Intuit, Inc. | 3248 |  | 1372832 |
| Microsoft Corp. | 85871 |  | 21279693 |
| Oracle Corp. | 17706 |  | 1566273 |
| Palantir Technologies, Inc., Class A\* | 20265 |  | 157662 |
| Palo Alto Networks, Inc.\* | 3457 |  | 548418 |
| Paycom Software, Inc.\* | 559 |  | 181082 |
| PTC, Inc.\* | 1221 |  | 164688 |
| Roper Technologies, Inc. | 1224 |  | 522342 |
| Salesforce, Inc.\* | 11520 |  | 1935014 |
| ServiceNow, Inc.\* | 2325 |  | 1058177 |
| Splunk, Inc.\* | 1724 |  | 165107 |
| Synopsys, Inc.\* | 1758 |  | 621893 |
| Tyler Technologies, Inc.\* | 478 |  | 154284 |
| Unity Software, Inc.\* | 2804 |  | 99598 |
| VMware, Inc., Class A\* | 2394 |  | 293193 |
| Workday, Inc., Class A\* | 2312 |  | 419466 |
| Zoom Video Communications, Inc., Class A\* | 2547 |  | 191025 |
| Zscaler, Inc.\* | 971 |  | 120559 |
|  |  |  | 36230746 |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **Specialty Retail - 2.3%** | **Specialty Retail - 2.3%** | **Specialty Retail - 2.3%** |
| AutoZone, Inc.\* | 219 | $534108 |
| Best Buy Co., Inc. | 2308 | 204766 |
| Burlington Stores, Inc.\* | 752 | 172832 |
| CarMax, Inc.\* | 1822 | 128360 |
| Home Depot, Inc. (The) | 11793 | 3822938 |
| Lowe's Cos, Inc. | 7148 | 1488572 |
| O'Reilly Automotive, Inc.\* | 721 | 571284 |
| Ross Stores, Inc. | 3997 | 472405 |
| TJX Cos, Inc. (The) | 13376 | 1094959 |
| Tractor Supply Co. | 1272 | 290003 |
| Ulta Beauty, Inc.\* | 589 | 302722 |
|  |  | 9082949 |
| **Technology Hardware, Storage & Peripherals - 6.4%** | **Technology Hardware, Storage & Peripherals - 6.4%** | **Technology Hardware, Storage & Peripherals - 6.4%** |
| Apple, Inc. | 172251 | 24854098 |
| Dell Technologies, Inc., Class C | 2986 | 121291 |
| Hewlett Packard Enterprise Co. | 14810 | 238885 |
| HP, Inc. | 10199 | 297199 |
| NetApp, Inc. | 2502 | 165707 |
| Seagate Technology Holdings plc | 2217 | 150268 |
| Western Digital Corp.\* | 3658 | 160769 |
|  |  | 25988217 |
| **Textiles, Apparel & Luxury Goods - 0.6%** | **Textiles, Apparel & Luxury Goods - 0.6%** | **Textiles, Apparel & Luxury Goods - 0.6%** |
| Lululemon Athletica, Inc.\* | 1335 | 409685 |
| NIKE, Inc., Class B | 14509 | 1847431 |
| VF Corp. | 3799 | 117541 |
|  |  | 2374657 |
| **Tobacco - 0.7%** | **Tobacco - 0.7%** | **Tobacco - 0.7%** |
| Altria Group, Inc. | 20641 | 929671 |
| Philip Morris International, Inc. | 17858 | 1861518 |
|  |  | 2791189 |
| **Trading Companies & Distributors - 0.2%** | **Trading Companies & Distributors - 0.2%** | **Trading Companies & Distributors - 0.2%** |
| Fastenal Co. | 6595 | 333377 |
| United Rentals, Inc.\* | 800 | 352760 |
| WW Grainger, Inc. | 520 | 306530 |
|  |  | 992667 |
| **Water Utilities - 0.1%** | **Water Utilities - 0.1%** | **Water Utilities - 0.1%** |
| American Water Works Co., Inc. | 2097 | 328160 |
| **Wireless Telecommunication Services - 0.3%** | **Wireless Telecommunication Services - 0.3%** | **Wireless Telecommunication Services - 0.3%** |
| T-Mobile US, Inc.\* | 6878 | 1026954 |
| **Total Common Stocks** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $427,445,836) |  | **400542249** |
| **Securities Lending Reinvestment†††** | **Securities Lending Reinvestment†††** | **Securities Lending Reinvestment†††** |
| **Money Market Fund - 0.0%†** | **Money Market Fund - 0.0%†** | **Money Market Fund - 0.0%†** |
| Fidelity Investments Money Market |  |  |
| &nbsp;&nbsp;&nbsp;Treasury Portfolio – Institutional |  |  |
| &nbsp;&nbsp;&nbsp;Class, 4.24%†††† |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $121,200) | 121200 | 121200 |

---

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal** | **Value** |
| **Short-Term Investments - 0.1%** | **Short-Term Investments - 0.1%** | **Short-Term Investments - 0.1%** |
| **Time Deposit - 0.1%** | **Time Deposit - 0.1%** | **Time Deposit - 0.1%** |
| Citibank, New York 3.68% 2/1/2023 |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $224,029) | $224029 | $224029 |
| **Total Investments - 99.9%** | **Total Investments - 99.9%** | **Total Investments - 99.9%** |
| &nbsp;&nbsp;&nbsp;(Cost $427,791,065) |  | $**400887478** |
| Other Assets Less Liabilities – 0.1% |  | 211508 |
| **Net Assets - 100.0%** |  | $**401098986** |

---

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| † | Represents less than 0.05%. |
| †† | The security or a portion of this security is on loan at January 31, 2023. The total value of securities on loan at January 31, 2023 was $117,651, collateralized in the form of cash with a value of $121,200 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments. The total value of collateral is $121,200. |
| ††† | The security was purchased with cash collateral held from securities on loan at January 31, 2023. The total value of securities purchased was $121,200. |
| †††† | 7-day net yield. |

---

**Futures Contracts Purchased**

Engine No. 1 Transform 500 ETF had the following open long futures contracts as of January 31, 2023:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Number of<br> Contracts** | **Expiration** <br> **Date** | **Trading<br> Currency** | **Notional<br> Amount** | **Value and<br> Unrealized<br> Appreciation** |
| S&P 500 Micro E-Mini Index | 27 | 3/17/2023 | USD | $552150 | $21276 |

---

**Fair Value Measurement**

The Fund discloses the fair market value of its investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (2) the Fund's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs).

The three levels defined by the hierarchy are as follows:

● **Level 1** — Quoted prices in active markets for identical assets that the Fund has the ability to access.

● **Level 2** — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

● **Level 3** — Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform 500 ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

The following is a summary of the valuations as of January 31, 2023 for the Fund based upon the three levels defined above:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Engine No. 1 Transform 500 ETF** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Investments** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks\* | $400542249 | $- | $- | $400542249 |
| &nbsp;&nbsp;&nbsp;Money Market Fund | 121200 | - | - | 121200 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Time Deposit | 224029 | - | - | 224029 |
| **Total Investments** | $**400887478** | **$-** | **$-** | $**400887478** |
| **Other Financial Instruments** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts\*\* | $21276 | $- | $- | $21276 |
| **Total Other Financial Instruments** | $**21276** | **$-** | **$-** | $**21276** |

---

\* Please refer to the Schedule of Investments to view securities segregated by industry type. <br> \*\* Futures Contracts Purchased.

---

| | |
|:---|:---|
| **Schedule of Investments**<br> **Engine No. 1 Transform Climate ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Shares** | **Value** |
| **COMMON STOCKS - 93.5%** | **COMMON STOCKS - 93.5%** | **COMMON STOCKS - 93.5%** |
| **Aerospace & Defense - 9.1%** | **Aerospace & Defense - 9.1%** | **Aerospace & Defense - 9.1%** |
| Airbus SE ADR | 134179 | $4202486 |
| Safran S.A. ADR | 117831 | 4228955 |
|  |  | 8431441 |
| **Automobiles - 9.5%** | **Automobiles - 9.5%** | **Automobiles - 9.5%** |
| General Motors Co. | 159042 | 6253532 |
| Tesla, Inc.\* | 14774 | 2559152 |
|  |  | 8812684 |
| **Building Products - 1.7%** | **Building Products - 1.7%** | **Building Products - 1.7%** |
| Trane Technologies plc | 8618 | 1543656 |
| **Chemicals - 6.7%** | **Chemicals - 6.7%** | **Chemicals - 6.7%** |
| Livent Corp.\* | 240020 | 6221318 |
| **Commercial Services & Supplies - 13.4%** | **Commercial Services & Supplies - 13.4%** | **Commercial Services & Supplies - 13.4%** |
| Republic Services, Inc., Class A | 57612 | 7191130 |
| Waste Management, Inc. | 34314 | 5309405 |
|  |  | 12500535 |
| **Construction & Engineering - 4.2%** | **Construction & Engineering - 4.2%** | **Construction & Engineering - 4.2%** |
| WillScot Mobile Mini Holdings Corp.\* | 80757 | 3913484 |
| **Electrical Equipment - 5.9%** | **Electrical Equipment - 5.9%** | **Electrical Equipment - 5.9%** |
| Rockwell Automation, Inc. | 19549 | 5513404 |
| **Machinery - 16.6%** | **Machinery - 16.6%** | **Machinery - 16.6%** |
| Caterpillar, Inc. | 11874 | 2995691 |
| Deere & Co. | 10409 | 4401343 |
| Epiroc AB ADR | 207469 | 4026973 |
| Sandvik AB ADR | 198663 | 4106365 |
|  |  | 15530372 |
| **Oil, Gas & Consumable Fuels - 11.6%** | **Oil, Gas & Consumable Fuels - 11.6%** | **Oil, Gas & Consumable Fuels - 11.6%** |
| ConocoPhillips | 49508 | 6033540 |
| Occidental Petroleum Corp. | 43809 | 2838385 |
| Pioneer Natural Resources Co. | 8154 | 1878274 |
|  |  | 10750199 |
| **Road & Rail - 7.7%** | **Road & Rail - 7.7%** | **Road & Rail - 7.7%** |
| Canadian Pacific Railway Ltd. | 43680 | 3446352 |
| Union Pacific Corp. | 18170 | 3710132 |
|  |  | 7156484 |
| **Semiconductors & Semiconductor Equipment - 7.1%** | **Semiconductors & Semiconductor Equipment - 7.1%** | **Semiconductors & Semiconductor Equipment - 7.1%** |
| Applied Materials, Inc. | 44040 | 4910019 |
| Enphase Energy, Inc.\* | 3334 | 738081 |
| SolarEdge Technologies, Inc.\* | 3097 | 988346 |
|  |  | 6636446 |
| **Total Common Stocks** | **Total Common Stocks** |  |
| &nbsp;&nbsp;&nbsp;(Cost $83,480,601) |  | **87010023** |

---

---

| | | |
|:---|:---|:---|
| **Investments** | **Principal** | **Value** |
| **Short-Term Investments - 4.0%** | **Short-Term Investments - 4.0%** | **Short-Term Investments - 4.0%** |
| **Time Deposit - 4.0%** | **Time Deposit - 4.0%** | **Time Deposit - 4.0%** |
| Citibank, New York 3.68% 2/1/2023 |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $3,740,612) | $3740612 | $3740612 |
| **Total Investments - 97.5%** | **Total Investments - 97.5%** | **Total Investments - 97.5%** |
| &nbsp;&nbsp;&nbsp;(Cost $87,221,213) |  | $**90750635** |
| Other Assets Less Liabilities – 2.5% |  | 2286764 |
| **Net Assets - 100.0%** |  | $**93037399** |

---

\* Non-income producing security.

Engine No. 1 Transform Climate ETF invested, as a percentage of net assets, in the following countries of January 31, 2023:

---

| | |
|:---|:---|
| United States | 69.3% |
| France | 9.1% |
| Sweden | 8.7% |
| Canada | 3.7% |
| Ireland | 1.6% |
| Israel | 1.1% |
| Other<sup>(1)</sup> | 6.5% |
| **Total** | **100.0%** |

---

(1) Includes cash, short term investments and net other assets (liabilities).

---

| | |
|:---|:---|
| **Schedule of Investments (continued)**<br> **Engine No. 1 Transform Climate ETF**<br> **January 31, 2023 (Unaudited)** | ![](img_001.jpg) |

---

**Fair Value Measurement**

The Fund discloses the fair market value of its investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (2) the Fund's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs).

The three levels defined by the hierarchy are as follows:

● **Level 1** — Quoted prices in active markets for identical assets that the Fund has the ability to access.

● **Level 2** — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

● **Level 3** — Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2023 for the Fund based upon the three levels defined above:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Engine No. 1 Transform Climate ETF** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Investments** |  |  |  |  |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks\* | $87010023 | $- | $- | $87010023 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Time Deposit | 3740612 | - | - | 3740612 |
| **Total Investments** | $**90750635** | **$-** | **$-** | $**90750635** |

---

\* Please refer to the Schedule of Investments to view securities segregated by industry type.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Engine No. 1 ETF Trust

- **b. Investment Company Act file number:** 811-23617

- **c. CIK number of Registrant:** 0001831313

- **d. LEI of Registrant:** 549300NV06RWMAEJ2V61

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 710 Sansome Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94111

  - **Telephone number:** 628-251-1222

**Item A.2. Information about the Series.**

- **a. Name of Series:** Engine No. 1 Transform Climate ETF

- **b. EDGAR series identifier (if any):** S000072458

- **c. LEI of Series:** 5493003PS37XTBOZF328

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $93074595.43

**Total Liabilities:** $57705.78

**Net Assets:** $93016889.65

**Cash Not Reported:** $3671352.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228741 | 2.94%                | -8.07%               | 5.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $291224.25               | $2435554.05                                |
| Month 2  | $-478972.56              | $-7602886.11                               |
| Month 3  | $285581.18               | $4667098.43                                |

### Schedule of Portfolio Investments

| Name                         | Title                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GENERAL MOTORS CO            | GENERAL MOTORS CO 0.00000000            | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    159042 | NS      | $6253531.44   | 6.72%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC         | WASTE MANAGEMENT INC 0.00000000         | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     34314 | NS      | $5309405.22   | 5.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBUS SE - UNSP ADR         | AIRBUS SE - UNSP ADR 0.00000000         | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |    134179 | NS      | $4202486.28   | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLAREDGE TECHNOLOGIES INC   | SOLAREDGE TECHNOLOGIES INC 0.00000000   | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | US        |      3097 | NS      | $988345.61    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS               | CONOCOPHILLIPS 0.00000000               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     49508 | NS      | $6033539.96   | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE AND CO                 | DEERE AND CO 0.00000000                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     10409 | NS      | $4401341.56   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVENT CORP                  | LIVENT CORP 0.00000000                  | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               | CORP              | US        |    240020 | NS      | $6221318.40   | 6.69%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP           | UNION PACIFIC CORP 0.00000000           | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     18170 | NS      | $3710132.30   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER NATURAL RESOURCES CO | PIONEER NATURAL RESOURCES CO 0.00000000 | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      8154 | NS      | $1878273.90   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORP    | OCCIDENTAL PETROLEUM CORP 0.00000000    | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     43809 | NS      | $2838385.11   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                    | TESLA INC 0.00000000                    | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     14774 | NS      | $2559152.28   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC       | TRANE TECHNOLOGIES PLC 0.00000000       | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      8618 | NS      | $1543656.16   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFRAN SA-UNSPON ADR         | SAFRAN SA-UNSPON ADR 0.00000000         | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |    117831 | NS      | $4228954.59   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLSCOT MOBILE MINI HOLDING | WILLSCOT MOBILE MINI HOLDING 0.00000000 | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     80757 | NS      | $3913484.22   | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ENPHASE ENERGY INC           | ENPHASE ENERGY INC 0.00000000           | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      3334 | NS      | $738080.92    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CATERPILLAR INC              | CATERPILLAR INC 0.00000000              | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     10025 | NS      | $2529207.25   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY LTD | CANADIAN PACIFIC RAILWAY LTD 0.00000000 | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     43680 | NS      | $3446352.00   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDVIK AB-SPONSORED ADR     | SANDVIK AB-SPONSORED ADR 0.00000000     | CUSIP: 800212201<br>LEI: 5299008ZUAXN43LVZF54 | Long             | EC               | CORP              | SE        |    198663 | NS      | $4106364.21   | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC        | APPLIED MATERIALS INC 0.00000000        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     44040 | NS      | $4910019.60   | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EPIROC AB-UNSP ADR           | EPIROC AB-UNSP ADR 0.00000000           | CUSIP: 29429L105<br>LEI: 5493004Q73OEYW1SPE91 | Long             | EC               | CORP              | SE        |    207469 | NS      | $4026973.29   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC      | ROCKWELL AUTOMATION INC 0.00000000      | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     19549 | NS      | $5513404.47   | 5.93%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC        | REPUBLIC SERVICES INC 0.00000000        | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     57612 | NS      | $7191129.84   | 7.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** Engine No. 1 ETF Trust

**Signature:** Joshua G. Hunter

**Name of Signer:** Joshua G. Hunter

**Title:** Treasurer