# EDGAR Filing Document

**Accession Number:** 0001936157
**File Stem:** 0001936157-26-000282
**Filing Date:** 2026-5
**Character Count:** 92216
**Document Hash:** 30e3d7a7221c0bdd529dbafd7c5b69f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001936157-26-000282.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001936157-26-000282

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elevation Series Trust
- **CENTRAL INDEX KEY:** 0001936157

**ORGANIZATION NAME:**
- **EIN:** 882465192
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23812
- **FILM NUMBER:** 261029329

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 2100
- **CITY:** DENVER
- **STATE:** CO
- **BUSINESS PHONE:** 7202128740

**MAIL ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 2100
- **CITY:** DENVER
- **STATE:** CO

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Consortio Funds Trust
- **DATE OF NAME CHANGE:** 20220630

## Series and Classes Contracts Data

### TrueShares Eagle Global Renewable Energy Income ETF (Series ID: S000092122)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000260045 | TrueShares Eagle Global Renewable Energy Income ETF | RNWZ            |

## Nport-Ex

**TrueShares Sub-Advised ETFs**

**Polen Dividend Income ETF\* (NYSE Arca, Inc.: DIVZ)<br> RiverNorth Enhanced Pre-Merger SPAC ETF (Cboe BZX Exchange, Inc.: SPCZ)<br> RiverNorth Patriot ETF (Cboe BZX Exchange, Inc.: FLDZ)<br> TrueShares Active Yield ETF\*\* (NASDAQ Stock Market, LLC: ERNZ)<br> TrueShares Eagle Global Renewable Energy Income ETF (NYSE Arca, Inc.: RNWZ)<br> TrueShares Technology, AI & Deep Learning ETF (NYSE Arca, Inc.: LRNZ)**

**Schedules of Investments<br> March 31, 2026**

\* Effective February 8, 2026, the name of the Fund was changed from The Opal Dividend Income ETF to Polen Dividend Income ETF.

\*\* The Board of Trustees of Elevation Series Trust determined to liquidate TrueShares Active Yield ETF. The last day of trading in the Fund on the NASDAQ Stock Market, LLC was March 24, 2026.

Polen Dividend Income ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 92.75%** |  |  |
| *Consumer Discretionary Products - 1.99%* |  |  |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | 53032 | $4605299 |
| *Consumer Staple Products - 19.69%* |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | 75770 | 5000062 |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC - Sponsored ADR | 145343 | 8498205 |
| &nbsp;&nbsp;&nbsp;Hershey Co. | 42634 | 8863182 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | 43560 | 6764432 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | 74505 | 12318657 |
| &nbsp;&nbsp;&nbsp;The Procter & Gamble Co. | 29083 | 4200749 |
|  |  | 45645287 |
| *Financial Services - 5.91%* |  |  |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | 33110 | 9779038 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | 4624 | 3911858 |
|  |  | 13690896 |
| *Health Care - 12.85%* |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | 32207 | 7004701 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 25801 | 6882417 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 44200 | 10804248 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | 18777 | 5080868 |
|  |  | 29772234 |
| *Industrial Services - 4.24%* |  |  |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | 99936 | 9831704 |
| *Insurance - 2.84%* |  |  |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | 87413 | 6577828 |
| *Oil & Gas - 19.01%* |  |  |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | 77198 | 15972266 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 109679 | 5519047 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. | 137405 | 7439107 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | 184905 | 6199865 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | 36104 | 8920576 |
|  |  | 44050861 |
| *Retail & Wholesale - Discretionary - 2.59%* |  |  |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | 18290 | 6015398 |
| *Telecommunications - 6.22%* |  |  |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | 286967 | 14405744 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 92.75% (continued)** |  |  |
| *Utilities - 17.41%* |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | 61038 | $8000861 |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 33313 | 6153577 |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure Corp., Class A | 148599 | 5872633 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | 140937 | 8712725 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | 125057 | 11615294 |
|  |  | 40355090 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $193,550,046)** |  | 214950341 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **LIMITED PARTNERSHIPS - 5.70%** |  |  |
| *Oil & Gas - 5.70%* |  |  |
| &nbsp;&nbsp;&nbsp;MPLX LP | 231535 | 13213703 |
| **TOTAL LIMITED PARTNERSHIPS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $11,493,720)** |  | 13213703 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 1.47%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(a)</sup> | 3411680 | 3411680 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $3,411,680)** |  | 3411680 |
| **TOTAL INVESTMENTS - 99.92%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $208,455,446)** |  | $231575724 |
| **Other Assets in Excess of Liabilities - 0.08%** |  | 191843 |
| **NET ASSETS - 100.00%** |  | $231767567 |

---

*<sup>(a)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

*Percentages are stated as a percent of net assets.*

Investment Abbreviations:

ADR - American Depositary Receipt

LP – Limited Partnership

PLC - Public Limited Company

See Notes to Schedules of Investments.

RiverNorth Enhanced Pre-Merger SPAC ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) - 95.37%<sup>(a)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;A Paradise Acquisition Corp., Class A | 9512 | $96737 |
| &nbsp;&nbsp;&nbsp;Activate Energy Acquisition Corp. | 15000 | 148350 |
| &nbsp;&nbsp;&nbsp;Aldel Financial II, Inc. | 9023 | 95373 |
| &nbsp;&nbsp;&nbsp;Alussa Energy Acquisition Corp. II | 9510 | 94910 |
| &nbsp;&nbsp;&nbsp;Armada Acquisition Corp. II, Class A | 2256 | 23259 |
| &nbsp;&nbsp;&nbsp;BHAV Acquisition Corp. | 10000 | 99700 |
| &nbsp;&nbsp;&nbsp;Bitcoin Infrastructure Acquisition Corp. Ltd. | 15000 | 148500 |
| &nbsp;&nbsp;&nbsp;Blue Water Acquisition Corp. IV | 10000 | 99200 |
| &nbsp;&nbsp;&nbsp;BTC Development Corp. | 4756 | 47513 |
| &nbsp;&nbsp;&nbsp;Centurion Acquisition Corp. | 8923 | 96145 |
| &nbsp;&nbsp;&nbsp;Charlton Aria Acquisition Corp., Class A | 4513 | 47702 |
| &nbsp;&nbsp;&nbsp;CN Healthy Food Tech Group Corp. | 2311 | 12734 |
| &nbsp;&nbsp;&nbsp;CO2 Energy Transition Corp. | 7734 | 80202 |
| &nbsp;&nbsp;&nbsp;Copley Acquisition Corp., Class A | 2256 | 23282 |
| &nbsp;&nbsp;&nbsp;CSLM Digital Asset Acquisition Corp. III Ltd. | 9512 | 95501 |
| &nbsp;&nbsp;&nbsp;D Boral ARC Acquisition I Corp. | 9512 | 96262 |
| &nbsp;&nbsp;&nbsp;Daedalus Special Acquisition Corp. | 5000 | 50150 |
| &nbsp;&nbsp;&nbsp;EQV Ventures Acquisition Corp. II, Class A | 14437 | 145669 |
| &nbsp;&nbsp;&nbsp;Evolution Global Acquisition Corp. | 3044 | 30379 |
| &nbsp;&nbsp;&nbsp;Fact II Acquisition Corp. | 9023 | 94787 |
| &nbsp;&nbsp;&nbsp;Fifth Era Acquisition Corp. I, Class A | 2372 | 24432 |
| &nbsp;&nbsp;&nbsp;Future Money Acquisition Corp. | 10000 | 99800 |
| &nbsp;&nbsp;&nbsp;Gesher Acquisition Corp. II, Class A | 2256 | 23372 |
| &nbsp;&nbsp;&nbsp;GigCapital8 Corp. | 9512 | 94835 |
| &nbsp;&nbsp;&nbsp;GigCapital9 Corp. | 11500 | 115460 |
| &nbsp;&nbsp;&nbsp;Globa Terra Acquisition Corp., Class A | 4109 | 42117 |
| &nbsp;&nbsp;&nbsp;GP-Act III Acquisition Corp., Class A | 16017 | 173624 |
| &nbsp;&nbsp;&nbsp;Graf Global Corp. | 18048 | 193294 |
| &nbsp;&nbsp;&nbsp;Hall Chadwick Acquisition Corp. | 14268 | 141681 |
| &nbsp;&nbsp;&nbsp;HCM III Acquisition Corp. | 6667 | 67337 |
| &nbsp;&nbsp;&nbsp;Hennessy Capital Investment Corp. VII | 9024 | 93398 |
| &nbsp;&nbsp;&nbsp;Invest Green Acquisition Corp. | 14268 | 141824 |
| &nbsp;&nbsp;&nbsp;Jackson Acquisition Co. II, Class A | 4513 | 47793 |
| &nbsp;&nbsp;&nbsp;K&F Growth Acquisition Corp. II, Class A | 4513 | 47116 |
| &nbsp;&nbsp;&nbsp;Lafayette Digital Acquisition Corp. I | 15000 | 147900 |
| &nbsp;&nbsp;&nbsp;Launch One Acquisition Corp. | 4513 | 48425 |
| &nbsp;&nbsp;&nbsp;Launch Two Acquisition Corp. | 9024 | 95835 |
| &nbsp;&nbsp;&nbsp;Legato Merger Corp. III | 18096 | 198875 |
| &nbsp;&nbsp;&nbsp;Legato Merger Corp. IV | 15000 | 149700 |
| &nbsp;&nbsp;&nbsp;Lionheart Holdings | 7523 | 80872 |
| &nbsp;&nbsp;&nbsp;M3-Brigade Acquisition VI Corp. | 9512 | 95691 |
| &nbsp;&nbsp;&nbsp;Maywood Acquisition Corp., Class A | 1881 | 19562 |
| &nbsp;&nbsp;&nbsp;Melar Acquisition Corp. I | 7936 | 85629 |
| &nbsp;&nbsp;&nbsp;Mountain Lake Acquisition Corp. II | 11500 | 114195 |
| &nbsp;&nbsp;&nbsp;Newbury Street II Acquisition Corp., Class A | 4513 | 47567 |
| &nbsp;&nbsp;&nbsp;NewHold Investment Corp. III, Class A | 2239 | 23263 |
| &nbsp;&nbsp;&nbsp;Plum Acquisition Corp. IV | 7356 | 77679 |
| &nbsp;&nbsp;&nbsp;Quantumsphere Acquisition Corp. | 9512 | 96261 |
| &nbsp;&nbsp;&nbsp;Quartzsea Acquisition Corp. | 2256 | 23417 |
| &nbsp;&nbsp;&nbsp;Range Capital Acquisition Corp. II | 9512 | 95120 |
| &nbsp;&nbsp;&nbsp;Rising Dragon Acquisition Corp.<sup>(b)</sup> | 9487 | 99044 |
| &nbsp;&nbsp;&nbsp;Rithm Acquisition Corp. | 1027 | 10681 |
| &nbsp;&nbsp;&nbsp;SC II Acquisition Corp. | 14780 | 147504 |
| &nbsp;&nbsp;&nbsp;Siddhi Acquisition Corp., Class A | 2256 | 23417 |
| &nbsp;&nbsp;&nbsp;Silver Pegasus Acquisition Corp., Class A | 9513 | 96747 |
| &nbsp;&nbsp;&nbsp;SIM Acquisition Corp. I, Class A | 4513 | 48425 |
| &nbsp;&nbsp;&nbsp;Solarius Capital Acquisition Corp., Class A | 15220 | 154940 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) - 95.37%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Space Asset Acquisition Corp. | 9200 | $93610 |
| &nbsp;&nbsp;&nbsp;Spring Valley Acquisition Corp. III | 9510 | 96622 |
| &nbsp;&nbsp;&nbsp;StoneBridge Acquisition II Corp. | 9417 | 94641 |
| &nbsp;&nbsp;&nbsp;SUMA Acquisition Corp. | 15000 | 150300 |
| &nbsp;&nbsp;&nbsp;United Acquisition Corp. I | 15000 | 147000 |
| &nbsp;&nbsp;&nbsp;UY Scuti Acquisition Corp.<sup>(b)</sup> | 2820 | 29384 |
| &nbsp;&nbsp;&nbsp;Viking Acquisition Corp. I | 9510 | 94434 |
| &nbsp;&nbsp;&nbsp;X3 Acquisition Corp. Ltd. | 10000 | 99400 |
| **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS)** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $5,521,046)** |  | 5718578 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **RIGHTS - 1.09%<sup>(a)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;A Paradise Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 7/31/2027 | 10000 | 4518 |
| &nbsp;&nbsp;&nbsp;A SPAC III Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/12/2026 | 4744 | 936 |
| &nbsp;&nbsp;&nbsp;Aimei Health Technology Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/17/2028 | 14391 | 4620 |
| &nbsp;&nbsp;&nbsp;Artius II Acquisition, Inc., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 2/14/2027 | 2372 | 646 |
| &nbsp;&nbsp;&nbsp;Bayview Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 6/15/2026 | 7251 | 1216 |
| &nbsp;&nbsp;&nbsp;Black Hawk Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 12/22/2026 | 3951 | 5334 |
| &nbsp;&nbsp;&nbsp;Cal Redwood Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/15/2030 | 2372 | 474 |
| &nbsp;&nbsp;&nbsp;ChampionsGate Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/14/2030 | 886 | 158 |
| &nbsp;&nbsp;&nbsp;Charlton Aria Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 12/31/2026 | 5000 | 775 |
| &nbsp;&nbsp;&nbsp;CO2 Energy Transition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/22/2026 | 8131 | 1382 |
| &nbsp;&nbsp;&nbsp;Columbus Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 1/22/2027 | 2372 | 854 |
| &nbsp;&nbsp;&nbsp;DT Cloud Star Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 7/9/2029 | 5000 | 868 |
| &nbsp;&nbsp;&nbsp;EGH Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/11/2027 | 2372 | 723 |
| &nbsp;&nbsp;&nbsp;ESH Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 6/13/2028 | 19934 | 3200 |
| &nbsp;&nbsp;&nbsp;Eureka Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 7/3/2026 | 2254 | 947 |

---

See Notes to Schedules of Investments.

RiverNorth Enhanced Pre-Merger SPAC ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **RIGHTS - 1.09%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Fifth Era Acquisition Corp. I, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 2/21/2030 | 2372 | $667 |
| &nbsp;&nbsp;&nbsp;Flag Ship Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 6/30/2026 | 8679 | 956 |
| &nbsp;&nbsp;&nbsp;GigCapital8 Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 9/30/2030 | 9512 | 2754 |
| &nbsp;&nbsp;&nbsp;Globa Terra Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 6/17/2030 | 4320 | 497 |
| &nbsp;&nbsp;&nbsp;Hall Chadwick Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/20/2030 | 14268 | 3282 |
| &nbsp;&nbsp;&nbsp;Hennessy Capital Investment Corp. VII |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 1/17/2030 | 9487 | 2704 |
| &nbsp;&nbsp;&nbsp;IB Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 9/28/2026 | 4998 | 519 |
| &nbsp;&nbsp;&nbsp;Inflection Point Acquisition Corp. III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 4/28/2027 | 1483 | 512 |
| &nbsp;&nbsp;&nbsp;Invest Green Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/17/2030 | 14268 | 2426 |
| &nbsp;&nbsp;&nbsp;Jackson Acquisition Co. II, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 12/11/2026 | 4744 | 833 |
| &nbsp;&nbsp;&nbsp;K&F Growth Acquisition Corp. II, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/6/2026 | 4744 | 674 |
| &nbsp;&nbsp;&nbsp;Kochav Defense Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/29/2027 | 2372 | 546 |
| &nbsp;&nbsp;&nbsp;Maywood Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 8/14/2026 | 1977 | 1166 |
| &nbsp;&nbsp;&nbsp;Oak Woods Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 3/23/2028 | 19934 | 3588 |
| &nbsp;&nbsp;&nbsp;Oyster Enterprises II Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/22/2030 | 2372 | 403 |
| &nbsp;&nbsp;&nbsp;Quantumsphere Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 8/6/2030 | 9512 | 2141 |
| &nbsp;&nbsp;&nbsp;Quartzsea Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 2/18/2030 | 2372 | 326 |
| &nbsp;&nbsp;&nbsp;Quetta Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 10/10/2026 | 1994 | 2951 |
| &nbsp;&nbsp;&nbsp;RF Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/1/2026 | 8065 | 968 |
| &nbsp;&nbsp;&nbsp;Rising Dragon Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/15/2028 | 10000 | 1900 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **RIGHTS - 1.09%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;SC II Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 11/26/2030 | 14780 | $3215 |
| &nbsp;&nbsp;&nbsp;Siddhi Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 9/15/2029 | 2372 | 503 |
| &nbsp;&nbsp;&nbsp;Silver Pegasus Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 6/26/2030 | 10001 | 2600 |
| &nbsp;&nbsp;&nbsp;Sizzle Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 4/2/2030 | 2372 | 470 |
| &nbsp;&nbsp;&nbsp;Soulpower Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 3/31/2026 | 2135 | 384 |
| &nbsp;&nbsp;&nbsp;StoneBridge Acquisition II Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 9/9/2030 | 9417 | 1178 |
| &nbsp;&nbsp;&nbsp;Thayer Ventures Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 5/15/2030 | 1897 | 332 |
| &nbsp;&nbsp;&nbsp;UY Scuti Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subscription Price $10.00, Expires 3/3/2030 | 2965 | 430 |
| **TOTAL RIGHTS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $59,173)** |  | 65576 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **WARRANTS - 1.22%<sup>(a)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;Activate Energy Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 1/26/2031 | 7500 | 2287 |
| &nbsp;&nbsp;&nbsp;Alchemy Investments Acquisition Corp. 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/26/2028 | 2758 | 441 |
| &nbsp;&nbsp;&nbsp;Aldel Financial II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 10/10/2029 | 4743 | 1518 |
| &nbsp;&nbsp;&nbsp;Alussa Energy Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 11/13/2030 | 3170 | 1268 |
| &nbsp;&nbsp;&nbsp;Archimedes Tech SPAC Partners II Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 10/15/2029 | 1067 | 544 |
| &nbsp;&nbsp;&nbsp;Armada Acquisition Corp. II, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/20/2030 | 1186 | 712 |
| &nbsp;&nbsp;&nbsp;Berto Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 4/28/2030 | 519 | 148 |
| &nbsp;&nbsp;&nbsp;Bitcoin Infrastructure Acquisition Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/1/2030 | 7500 | 2227 |
| &nbsp;&nbsp;&nbsp;BTC Development Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/19/2030 | 1189 | 559 |

---

See Notes to Schedules of Investments.

RiverNorth Enhanced Pre-Merger SPAC ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **WARRANTS - 1.22%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Centurion Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/1/2029 | 4944 | $611 |
| &nbsp;&nbsp;&nbsp;CN Healthy Food Tech Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 2/16/2029 | 12150 | 1106 |
| &nbsp;&nbsp;&nbsp;CO2 Energy Transition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/17/2028 | 8131 | 741 |
| &nbsp;&nbsp;&nbsp;Copley Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/23/2030 | 1186 | 178 |
| &nbsp;&nbsp;&nbsp;CSLM Digital Asset Acquisition Corp. III Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/19/2030 | 4756 | 1189 |
| &nbsp;&nbsp;&nbsp;D Boral ARC Acquisition I Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/6/2030 | 5000 | 2800 |
| &nbsp;&nbsp;&nbsp;Digital Asset Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 3/17/2030 | 593 | 223 |
| &nbsp;&nbsp;&nbsp;Dune Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/12/2030 | 1332 | 360 |
| &nbsp;&nbsp;&nbsp;Dynamix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/6/2029 | 5000 | 3800 |
| &nbsp;&nbsp;&nbsp;EQV Ventures Acquisition Corp. II, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/30/2026 | 5059 | 1569 |
| &nbsp;&nbsp;&nbsp;Evolution Global Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 11/7/2030 | 1522 | 563 |
| &nbsp;&nbsp;&nbsp;Fact II Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/20/2029 | 4743 | 1897 |
| &nbsp;&nbsp;&nbsp;Four Leaf Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/12/2028 | 19934 | 2 |
| &nbsp;&nbsp;&nbsp;Gesher Acquisition Corp. II, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 3/12/2030 | 1186 | 301 |
| &nbsp;&nbsp;&nbsp;GIBO Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/8/2030 | 9967 | 270 |
| &nbsp;&nbsp;&nbsp;Globa Terra Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 4/17/2030 | 3240 | 413 |
| &nbsp;&nbsp;&nbsp;Goal Acquisitions Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 7/31/2027 | 2463 | 0 |
| &nbsp;&nbsp;&nbsp;Gores Holdings X, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/20/2031 | 296 | 148 |
| &nbsp;&nbsp;&nbsp;GP-Act III Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/31/2027 | 8874 | 1421 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **WARRANTS - 1.22%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Graf Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/7/2029 | 10000 | $1299 |
| &nbsp;&nbsp;&nbsp;Haymaker Acquisition Corp. 4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/12/2028 | 2397 | 7071 |
| &nbsp;&nbsp;&nbsp;HCM III Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 7/31/2030 | 2222 | 1064 |
| &nbsp;&nbsp;&nbsp;Horizon Space Acquisition I Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 1/26/2028 | 3101 | 91 |
| &nbsp;&nbsp;&nbsp;Israel Acquisitions Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 2/28/2028 | 4661 | 396 |
| &nbsp;&nbsp;&nbsp;Jaws Mustang Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/1/2030 | 1780 | 67 |
| &nbsp;&nbsp;&nbsp;Keen Vision Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/15/2028 | 10401 | 314 |
| &nbsp;&nbsp;&nbsp;Lafayette Digital Acquisition Corp. I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 2/3/2031 | 3750 | 988 |
| &nbsp;&nbsp;&nbsp;Launch One Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/29/2029 | 2500 | 349 |
| &nbsp;&nbsp;&nbsp;Launch Two Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 11/26/2029 | 5000 | 780 |
| &nbsp;&nbsp;&nbsp;Legato Merger Corp. III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 3/28/2029 | 10026 | 5013 |
| &nbsp;&nbsp;&nbsp;Lionheart Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/9/2029 | 4168 | 500 |
| &nbsp;&nbsp;&nbsp;Live Oak Acquisition Corp. V |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 4/17/2030 | 1186 | 1720 |
| &nbsp;&nbsp;&nbsp;M3-Brigade Acquisition V Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/23/2030 | 5000 | 1499 |
| &nbsp;&nbsp;&nbsp;M3-Brigade Acquisition VI Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/5/2030 | 3170 | 1094 |
| &nbsp;&nbsp;&nbsp;Melar Acquisition Corp. I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/1/2031 | 4397 | 550 |
| &nbsp;&nbsp;&nbsp;Namib Minerals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/5/2030 | 3542 | 478 |
| &nbsp;&nbsp;&nbsp;New Providence Acquisition Corp. III, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 4/24/2030 | 790 | 151 |
| &nbsp;&nbsp;&nbsp;Newbury Street II Acquisition Corp., Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/27/2029 | 2372 | 498 |

---

See Notes to Schedules of Investments.

RiverNorth Enhanced Pre-Merger SPAC ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **WARRANTS - 1.22%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;NewHold Investment Corp. III, Class |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Exercise Price $11.50, Expires 4/17/2030 | 1186 | $534 |
| &nbsp;&nbsp;&nbsp;Oak Woods Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/17/2028 | 19934 | 321 |
| &nbsp;&nbsp;&nbsp;Plum Acquisition Corp. IV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 1/30/2030 | 4150 | 2031 |
| &nbsp;&nbsp;&nbsp;Polibeli Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/23/2030 | 4018 | 375 |
| &nbsp;&nbsp;&nbsp;Presidio Production Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 7/1/2031 | 3333 | 2700 |
| &nbsp;&nbsp;&nbsp;ProCap Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/13/2030 | 316 | 95 |
| &nbsp;&nbsp;&nbsp;Procap Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/31/2030 | 593 | 168 |
| &nbsp;&nbsp;&nbsp;Range Capital Acquisition Corp. II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/16/2030 | 4756 | 1569 |
| &nbsp;&nbsp;&nbsp;Real Asset Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/2/2030 | 1186 | 1571 |
| &nbsp;&nbsp;&nbsp;Republic Digital Acquisition Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/1/2030 | 593 | 261 |
| &nbsp;&nbsp;&nbsp;Rithm Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 4/11/2030 | 395 | 246 |
| &nbsp;&nbsp;&nbsp;SIM Acquisition Corp. I, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 8/28/2029 | 2500 | 783 |
| &nbsp;&nbsp;&nbsp;Solarius Capital Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 7/16/2030 | 8000 | 1802 |
| &nbsp;&nbsp;&nbsp;Spark I Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 11/27/2028 | 9967 | 1794 |
| &nbsp;&nbsp;&nbsp;Spring Valley Acquisition Corp. III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 9/30/2030 | 3170 | 3297 |
| &nbsp;&nbsp;&nbsp;Stellar V Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 3/24/2030 | 1186 | 321 |
| &nbsp;&nbsp;&nbsp;Texas Ventures Acquisition III Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 5/15/2031 | 1186 | 569 |
| &nbsp;&nbsp;&nbsp;Titan Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 6/2/2030 | 1186 | 332 |
| &nbsp;&nbsp;&nbsp;United Acquisition Corp. I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 12/19/2030 | 3750 | 1594 |
| &nbsp;&nbsp;&nbsp;Viking Acquisition Corp. I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 11/3/2030 | 3170 | 985 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **WARRANTS - 1.22%<sup>(a)</sup> (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;Youlife Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price $11.50, Expires 3/30/2028 | 8873 | $985 |
| **TOTAL WARRANTS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $63,853)** |  | 73551 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 2.32%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(c)</sup> | 138890 | 138890 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $138,890)** |  | 138890 |
| **TOTAL INVESTMENTS - 100.00%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $5,782,962)** |  | $5996595 |
| **Liabilities in Excess of Other Assets – 0.00%<sup>(d)</sup>** |  | (242) |
| **NET ASSETS - 100.00%** |  | $5996353 |

---

 

*<sup>(a)</sup>* *Non-income producing security.*

*<sup>(b)</sup>* *The Fund has tendered its investment in the security pursuant to a tender offer, which has not closed as of March 31, 2026, and the final settlement date had not been announced. Accordingly, the security continues to be reflected as an investment at its fair value as of period-end.*

*<sup>(c)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

*<sup>(d)</sup>* *Less than 0.005%.*

 

*Percentages are stated as a percent of net assets.*

See Notes to Schedules of Investments.

RiverNorth Patriot ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80%** |  |  |
| *Banking - 7.07%* |  |  |
| &nbsp;&nbsp;&nbsp;Ameris Bancorp | 77 | $6005 |
| &nbsp;&nbsp;&nbsp;BOK Financial Corp. | 65 | 8324 |
| &nbsp;&nbsp;&nbsp;Central BanCo, Inc., Class A | 328 | 7856 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | 128 | 7676 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | 277 | 7598 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | 155 | 7626 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | 51 | 6991 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | 77 | 8220 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 164 | 7619 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | 3 | 5654 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | 341 | 7761 |
| &nbsp;&nbsp;&nbsp;Flagstar Bank NA | 443 | 5834 |
| &nbsp;&nbsp;&nbsp;FNB Corp. | 460 | 7691 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | 166 | 7415 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | 89 | 5659 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | 219 | 5898 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | 498 | 7794 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 383 | 7679 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | 38 | 7855 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | 360 | 7956 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | 90 | 7753 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | 52 | 10821 |
| &nbsp;&nbsp;&nbsp;Prosperity Bancshares, Inc. | 115 | 7726 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | 298 | 7784 |
| &nbsp;&nbsp;&nbsp;SouthState Bank Corp. | 91 | 8419 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | 166 | 7631 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | 63 | 7106 |
| &nbsp;&nbsp;&nbsp;United Bankshares, Inc. | 140 | 5799 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 181 | 9414 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp | 628 | 7712 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | 116 | 8053 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | 116 | 9235 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | 114 | 8077 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | 52 | 7225 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | 140 | 8067 |
|  |  | 265933 |
| *Consumer Discretionary Products - 2.55%* |  |  |
| &nbsp;&nbsp;&nbsp;DR Horton, Inc. | 101 | 13859 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | 155 | 13460 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.<sup>(a)</sup> | 2 | 13180 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | 127 | 14937 |
| &nbsp;&nbsp;&nbsp;Rivian Automotive, Inc., Class A<sup>(a)</sup> | 937 | 14102 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp.<sup>(a)</sup> | 216 | 12580 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | 101 | 13783 |
|  |  | 95901 |
| *Consumer Discretionary Services - 5.25%* |  |  |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | 180 | 14792 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc.<sup>(a)</sup> | 102 | 14563 |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc.<sup>(a)</sup> | 481 | 12713 |
| &nbsp;&nbsp;&nbsp;Cava Group, Inc.<sup>(a)</sup> | 168 | 13591 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc., Class A<sup>(a)</sup> | 441 | 14116 |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | 168 | 15091 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | 67 | 13135 |
| &nbsp;&nbsp;&nbsp;DraftKings, Inc., Class A<sup>(a)</sup> | 632 | 13664 |
| &nbsp;&nbsp;&nbsp;Dutch Bros, Inc., Class A<sup>(a)</sup> | 274 | 13881 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Sports Corp.<sup>(a)</sup> | 52 | 16713 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Consumer Discretionary Services - 5.25% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A<sup>(a)</sup> | 195 | $14504 |
| &nbsp;&nbsp;&nbsp;Service Corp. Intl. | 195 | 16090 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | 81 | 13376 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | 72 | 11158 |
|  |  | 197387 |
| *Consumer Staple Products - 1.56%* |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | 248 | 16366 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | 72 | 13805 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | 89 | 13350 |
| &nbsp;&nbsp;&nbsp;The Campbell's Co. | 682 | 15188 |
|  |  | 58709 |
| *Financial Services - 4.96%* |  |  |
| &nbsp;&nbsp;&nbsp;AGNC Investment Corp. | 770 | 7723 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | 192 | 7532 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | 12 | 5333 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management, Inc. | 360 | 7614 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | 79 | 8619 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Inc., Class A | 852 | 7779 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | 52 | 9486 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | 104 | 9774 |
| &nbsp;&nbsp;&nbsp;Circle Internet Group, Inc.<sup>(a)</sup> | 80 | 7633 |
| &nbsp;&nbsp;&nbsp;Enact Holdings, Inc. | 196 | 7999 |
| &nbsp;&nbsp;&nbsp;Federal National Mortgage Association<sup>(a)</sup> | 1374 | 9975 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | 179 | 8302 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | 55 | 8692 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings, Inc. | 26 | 7821 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | 221 | 5801 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings, Inc. | 140 | 7489 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | 187 | 14315 |
| &nbsp;&nbsp;&nbsp;Riot Platforms, Inc.<sup>(a)</sup> | 411 | 5080 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A<sup>(a)</sup> | 108 | 7484 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 117 | 7958 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group, Inc. | 90 | 8113 |
| &nbsp;&nbsp;&nbsp;TPG, Inc., Class A | 200 | 8102 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | 118 | 8062 |
|  |  | 186686 |
| *Health Care - 10.79%* |  |  |
| &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> | 265 | 16615 |
| &nbsp;&nbsp;&nbsp;Axsome Therapeutics, Inc.<sup>(a)</sup> | 94 | 15888 |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc.<sup>(a)</sup> | 340 | 14487 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | 67 | 14158 |
| &nbsp;&nbsp;&nbsp;Caris Life Sciences, Inc.<sup>(a)</sup> | 668 | 11944 |
| &nbsp;&nbsp;&nbsp;Centene Corp.<sup>(a)</sup> | 444 | 14537 |
| &nbsp;&nbsp;&nbsp;Chemed Corp. | 41 | 15487 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 66 | 17605 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | 225 | 16160 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | 54 | 15808 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | 79 | 15919 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | 41 | 19403 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.<sup>(a)</sup> | 184 | 15377 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | 91 | 15778 |
| &nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | 216 | 16219 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech, Inc.<sup>(a)</sup> | 53 | 13691 |

---

See Notes to Schedules of Investments.

RiverNorth Patriot ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Health Care - 10.79% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> | 40 | $20939 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | 14 | 12115 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.<sup>(a)</sup> | 109 | 14530 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.<sup>(a)</sup> | 80 | 15999 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.<sup>(a)</sup> | 121 | 15941 |
| &nbsp;&nbsp;&nbsp;PACS Group, Inc.<sup>(a)</sup> | 382 | 12270 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | 79 | 15482 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.<sup>(a)</sup> | 81 | 15286 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.<sup>(a)</sup> | 27 | 16010 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | 67 | 18130 |
|  |  | 405778 |
| *Industrial Products - 1.50%* |  |  |
| &nbsp;&nbsp;&nbsp;AAON, Inc. | 178 | 14730 |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | 41 | 15576 |
| &nbsp;&nbsp;&nbsp;Karman Holdings, Inc.<sup>(a)</sup> | 141 | 11287 |
| &nbsp;&nbsp;&nbsp;Symbotic, Inc., Class A<sup>(a)</sup> | 277 | 14736 |
|  |  | 56329 |
| *Industrial Services - 9.04%* |  |  |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | 12 | 16548 |
| &nbsp;&nbsp;&nbsp;Construction Partners, Inc., Class A<sup>(a)</sup> | 114 | 12668 |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc., Class A<sup>(a)</sup> | 287 | 14178 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | 425 | 17446 |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc.<sup>(a)</sup> | 37 | 12536 |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | 25 | 18458 |
| &nbsp;&nbsp;&nbsp;Everus Construction Group, Inc.<sup>(a)</sup> | 123 | 14521 |
| &nbsp;&nbsp;&nbsp;Granite Construction, Inc. | 100 | 11988 |
| &nbsp;&nbsp;&nbsp;IES Holdings, Inc.<sup>(a)</sup> | 36 | 17153 |
| &nbsp;&nbsp;&nbsp;Installed Building Products, Inc. | 50 | 13258 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | 77 | 16316 |
| &nbsp;&nbsp;&nbsp;Kirby Corp.<sup>(a)</sup> | 102 | 13554 |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc., Class A | 266 | 15316 |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc. | 75 | 12023 |
| &nbsp;&nbsp;&nbsp;MasTec, Inc.<sup>(a)</sup> | 50 | 16087 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | 52 | 14924 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | 77 | 15046 |
| &nbsp;&nbsp;&nbsp;Primoris Services Corp. | 101 | 14447 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | 80 | 17522 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.<sup>(a)</sup> | 37 | 12997 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 111 | 14775 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | 362 | 13600 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure, Inc.<sup>(a)</sup> | 36 | 14662 |
|  |  | 340023 |
| *Insurance - 2.93%* |  |  |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | 39 | 8086 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | 65 | 8301 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | 53 | 8340 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | 209 | 7756 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity Co., Class A | 25 | 6283 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | 53 | 7376 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. | 38 | 6587 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc., Class A | 77 | 8140 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | 27 | 9225 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Insurance - 2.93% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. | 217 | $7703 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | 78 | 8326 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | 192 | 7661 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | 53 | 10507 |
| &nbsp;&nbsp;&nbsp;RLI Corp. | 106 | 6046 |
|  |  | 110337 |
| *Materials - 1.85%* |  |  |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | 75 | 14209 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | 25 | 14717 |
| &nbsp;&nbsp;&nbsp;MP Materials Corp.<sup>(a)</sup> | 282 | 13609 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | 64 | 13582 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | 50 | 13615 |
|  |  | 69732 |
| *Media - 3.68%* |  |  |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A<sup>(a)</sup> | 63 | 13601 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | 247 | 14425 |
| &nbsp;&nbsp;&nbsp;Lyft, Inc., Class A<sup>(a)</sup> | 974 | 12954 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc.<sup>(a)</sup> | 400 | 14984 |
| &nbsp;&nbsp;&nbsp;New York Times Co., Class A | 178 | 14904 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | 66 | 11935 |
| &nbsp;&nbsp;&nbsp;Roku, Inc.<sup>(a)</sup> | 152 | 14382 |
| &nbsp;&nbsp;&nbsp;Sirius XM Holdings, Inc. | 639 | 14748 |
| &nbsp;&nbsp;&nbsp;Versant Media Group, Inc.<sup>(a)</sup> | 351 | 12994 |
| &nbsp;&nbsp;&nbsp;Zillow Group, Inc., Class C<sup>(a)</sup> | 327 | 13531 |
|  |  | 138458 |
| *Oil & Gas - 10.39%* |  |  |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | 624 | 14227 |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.<sup>(a)</sup> | 339 | 14387 |
| &nbsp;&nbsp;&nbsp;Archrock, Inc. | 388 | 13502 |
| &nbsp;&nbsp;&nbsp;California Resources Corp. | 191 | 13221 |
| &nbsp;&nbsp;&nbsp;Chord Energy Corp. | 101 | 14360 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp.<sup>(a)</sup> | 355 | 13685 |
| &nbsp;&nbsp;&nbsp;Comstock Resources, Inc.<sup>(a)</sup> | 690 | 14545 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | 423 | 14864 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | 294 | 14794 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | 76 | 15032 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | 115 | 16626 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | 220 | 14001 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | 129 | 14162 |
| &nbsp;&nbsp;&nbsp;Hess Midstream LP, Class A | 309 | 12011 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 231 | 14412 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | 483 | 16195 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp. | 400 | 12628 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp., Class A | 62 | 15139 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | 239 | 15100 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | 26 | 12843 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | 179 | 16180 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp. | 704 | 15009 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | 321 | 14503 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | 472 | 14717 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | 63 | 15796 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | 12 | 5695 |
| &nbsp;&nbsp;&nbsp;Viper Energy, Inc., Class A | 158 | 7425 |

---

See Notes to Schedules of Investments.

RiverNorth Patriot ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Oil & Gas - 10.39% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | 217 | $15793 |
|  |  | 390852 |
| *Real Estate - 7.80%* |  |  |
| &nbsp;&nbsp;&nbsp;Agree Realty Corp. | 107 | 8066 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | 155 | 7195 |
| &nbsp;&nbsp;&nbsp;American Healthcare REIT, Inc. | 159 | 7498 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | 274 | 7650 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | 52 | 8494 |
| &nbsp;&nbsp;&nbsp;BXP, Inc. | 142 | 7370 |
| &nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | 260 | 7488 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 79 | 7715 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT, Inc. | 205 | 7513 |
| &nbsp;&nbsp;&nbsp;Compass, Inc., Class <sub>A</sub>(a) | 941 | 6879 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | 95 | 7724 |
| &nbsp;&nbsp;&nbsp;CubeSmart | 211 | 7733 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | 39 | 7218 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | 120 | 7490 |
| &nbsp;&nbsp;&nbsp;Equity Residential | 131 | 7749 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust, Inc. | 242 | 7347 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | 25 | 6050 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | 53 | 6950 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 79 | 8391 |
| &nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | 130 | 7520 |
| &nbsp;&nbsp;&nbsp;Gaming and Leisure Properties, Inc. | 170 | 7543 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | 441 | 7493 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | 445 | 7311 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | 396 | 7587 |
| &nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | 309 | 7679 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | 335 | 7527 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group Trust | 237 | 5818 |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | 65 | 8233 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | 66 | 8060 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. | 185 | 7776 |
| &nbsp;&nbsp;&nbsp;Public Storage | 27 | 7314 |
| &nbsp;&nbsp;&nbsp;Rayonier, Inc. | 379 | 7815 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | 106 | 8020 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | 220 | 7201 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | 77 | 7105 |
| &nbsp;&nbsp;&nbsp;STAG Industrial, Inc. | 211 | 7609 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | 130 | 7985 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. | 223 | 7533 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | 286 | 7813 |
|  |  | 293462 |
| *Renewable Energy - 0.42%* |  |  |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.<sup>(a)</sup> | 80 | 15781 |
| *Retail & Wholesale - Discretionary - 5.98%* |  |  |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.<sup>(a)</sup> | 76 | 14840 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc.<sup>(a)</sup> | 176 | 14490 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.<sup>(a)</sup> | 50 | 16269 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc.<sup>(a)</sup> | 329 | 13680 |
| &nbsp;&nbsp;&nbsp;Carvana Co.<sup>(a)</sup> | 49 | 15405 |
| &nbsp;&nbsp;&nbsp;Chewy, Inc., Class A<sup>(a)</sup> | 546 | 14742 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Retail & Wholesale - Discretionary - 5.98% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | 78 | $15467 |
| &nbsp;&nbsp;&nbsp;Dillard's, Inc., Class A | 28 | 16019 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 242 | 12294 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | 77 | 18193 |
| &nbsp;&nbsp;&nbsp;QXO, Inc.<sup>(a)</sup> | 705 | 13691 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | 77 | 16680 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | 317 | 14360 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.<sup>(a)</sup> | 28 | 14636 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | 77 | 14039 |
|  |  | 224805 |
| *Retail & Wholesale - Staples - 4.38%* |  |  |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | 847 | 14433 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 143 | 14074 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | 26 | 18924 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | 123 | 14604 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc.<sup>(a)</sup> | 65 | 14851 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | 197 | 14255 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | 152 | 13990 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.<sup>(a)</sup> | 179 | 15333 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc.<sup>(a)</sup> | 189 | 14578 |
| &nbsp;&nbsp;&nbsp;Target Corp. | 129 | 15635 |
| &nbsp;&nbsp;&nbsp;US Foods Holding Corp.<sup>(a)</sup> | 155 | 14292 |
|  |  | 164969 |
| *Software & Tech Services - 3.67%* |  |  |
| &nbsp;&nbsp;&nbsp;Affirm Holdings, Inc., Class A<sup>(a)</sup> | 169 | 7744 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp., Class A | 187 | 14592 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A<sup>(a)</sup> | 28 | 15228 |
| &nbsp;&nbsp;&nbsp;Chime Financial, Inc., Class A<sup>(a)</sup> | 423 | 7923 |
| &nbsp;&nbsp;&nbsp;Figure Technology Solutions, Inc., Class A<sup>(a)</sup> | 232 | 7876 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | 163 | 15016 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | 124 | 15071 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp.<sup>(a)</sup> | 136 | 14693 |
| &nbsp;&nbsp;&nbsp;ServiceTitan, Inc., Class A<sup>(a)</sup> | 191 | 12121 |
| &nbsp;&nbsp;&nbsp;Tempus AI, Inc.<sup>(a)</sup> | 305 | 13792 |
| &nbsp;&nbsp;&nbsp;Toast, Inc., Class A<sup>(a)</sup> | 534 | 14156 |
|  |  | 138212 |
| *Telecommunications - 1.25%* |  |  |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | 562 | 16292 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc.<sup>(a)</sup> | 2102 | 14609 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | 320 | 16064 |
|  |  | 46965 |
| *Utilities - 12.73%* |  |  |
| &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | 167 | 11984 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | 103 | 11322 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | 102 | 13370 |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | 91 | 12384 |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | 65 | 12007 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 141 | 9787 |

---

See Notes to Schedules of Investments.

RiverNorth Patriot ETF

**SCHEDULE OF INVESTMENTS**

**March 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 97.80% (continued)** |  |  |
| *Utilities - 12.73% (continued)* |  |  |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. | 275 | $11869 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | 155 | 12025 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | 104 | 11771 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | 50 | 13962 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | 193 | 11931 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | 77 | 11259 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 104 | 13618 |
| &nbsp;&nbsp;&nbsp;Edison International | 167 | 12221 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | 114 | 12809 |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. | 300 | 12081 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | 141 | 11551 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 169 | 11708 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | 244 | 11961 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | 246 | 12462 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | 90 | 12867 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | 153 | 14376 |
| &nbsp;&nbsp;&nbsp;New Jersey Resources Corp. | 179 | 9831 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | 258 | 12038 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | 75 | 10961 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | 243 | 11654 |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | 117 | 10077 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | 678 | 11912 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | 116 | 11687 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | 235 | 12401 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | 322 | 12300 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | 142 | 11495 |
| &nbsp;&nbsp;&nbsp;Southern Co. | 142 | 13706 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | 140 | 12166 |
| &nbsp;&nbsp;&nbsp;Spire, Inc. | 116 | 10503 |
| &nbsp;&nbsp;&nbsp;Talen Energy Corp.<sup>(a)</sup> | 37 | 11812 |
| &nbsp;&nbsp;&nbsp;TXNM Energy, Inc. | 196 | 11458 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | 75 | 11275 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | 104 | 12040 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | 154 | 12234 |
|  |  | 478875 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $3,527,749)** |  | 3679194 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **LIMITED PARTNERSHIPS - 1.67%** |  |  |
| *Oil & Gas - 1.67%* |  |  |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP | 855 | 16502 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Partners LP | 423 | 16006 |
| &nbsp;&nbsp;&nbsp;MPLX LP | 282 | 16094 |
| &nbsp;&nbsp;&nbsp;Western Midstream Partners LP | 348 | 14327 |
|  |  | 62929 |
| **TOTAL LIMITED PARTNERSHIPS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $51,602)** |  | 62929 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 0.48%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(b)</sup> | 18012 | $18012 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $18,012)** |  | 18012 |
| **TOTAL INVESTMENTS - 99.95%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $3,597,363)** |  | $3760135 |
| **Other Assets in Excess of Liabilities - 0.05%** |  | 2042 |
| **NET ASSETS - 100.00%** |  | $3762177 |

---

 

*<sup>(a)</sup>* *Non-income producing security.*

*<sup>(b)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

 

*Percentages are stated as a percent of net assets.*

Investment Abbreviations:

LP – Limited Partnership

NA - National Association

See Notes to Schedules of Investments.

TrueShares Active Yield ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(a)</sup> | 5525052 | $5525052 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $5,525,052)** |  | 5525052 |
| **TOTAL INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $5,525,052)** |  | $5525052 |
| **Liabilities in Excess of Other Assets<sup>(b)</sup>** |  | (5525052) |
| **NET ASSETS** |  | $- |

---

*<sup>(a)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

*<sup>(b)</sup>* *The Board of Trustees of Elevation Series Trust determined to liquidate the Fund and the liquidation payment to shareholders occurred on April 1, 2026.*

See Notes to Schedules of Investments.

TrueShares Eagle Global Renewable Energy Income ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 95.97%** |  |  |
| *Financial Services - 6.13%* |  |  |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital, Inc. | 6333 | $232738 |
| *Industrial Services - 3.04%* |  |  |
| &nbsp;&nbsp;&nbsp;Acciona SA | 448 | 115371 |
| *Utilities - 86.80%<sup>(a)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | 2845 | 372923 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | 963 | 66842 |
| &nbsp;&nbsp;&nbsp;Boralex, Inc., Class A | 4592 | 120948 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Inc., Class A | 6332 | 248025 |
| &nbsp;&nbsp;&nbsp;Drax Group PLC | 11736 | 137551 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | 564 | 73850 |
| &nbsp;&nbsp;&nbsp;EDP Renovaveis SA | 7647 | 121003 |
| &nbsp;&nbsp;&nbsp;EDP SA | 13268 | 69395 |
| &nbsp;&nbsp;&nbsp;Endesa SA | 4092 | 170650 |
| &nbsp;&nbsp;&nbsp;Enel SpA | 25502 | 276343 |
| &nbsp;&nbsp;&nbsp;Fortum Oyj | 5630 | 142383 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | 2866 | 266194 |
| &nbsp;&nbsp;&nbsp;Northland Power, Inc. | 7510 | 126004 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | 624 | 91191 |
| &nbsp;&nbsp;&nbsp;Orsted A/S<sup>(b)(c)(d)</sup> | 7197 | 173658 |
| &nbsp;&nbsp;&nbsp;Otter Tail Corp. | 790 | 69338 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | 8272 | 145339 |
| &nbsp;&nbsp;&nbsp;RWE AG | 4983 | 332215 |
| &nbsp;&nbsp;&nbsp;SSE PLC | 4488 | 154150 |
| &nbsp;&nbsp;&nbsp;Verbund AG | 1790 | 135829 |
|  |  | 3293831 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $2,922,798)** |  | 3641940 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **LIMITED PARTNERSHIPS - 2.58%** |  |  |
| *Utilities - 2.58%* |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Renewable Partners LP | 3007 | 98149 |
| **TOTAL LIMITED PARTNERSHIPS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $84,987)** |  | 98149 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 0.30%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(e)</sup> | 11256 | 11256 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $11,256)** |  | 11256 |
| **TOTAL INVESTMENTS - 98.85%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $3,019,041)** |  | $3751345 |
| **Other Assets in Excess of Liabilities - 1.15%** |  | 43546 |
| **NET ASSETS - 100.00%** |  | $3794891 |

---

*<sup>(a)</sup>* *To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.*

*<sup>(b)</sup>* *Non-income producing security.*

*<sup>(c)</sup>* *All or a portion of the security is exempt from registration of the Securities Act of 1933. These securities may be resold in transactions exempt from registration under Rule 144A, normally to qualified institutional buyers. As of March 31, 2026, these securities had an aggregate value of $173,658 or 4.58% of net assets.*

*<sup>(d)</sup>* *Security was issued pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As of March 31, 2026, the aggregate market value of these securities was $173,658, representing 4.58% of net assets.*

*<sup>(e)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

 

*Percentages are stated as a percent of net assets.*

Investment Abbreviations:

AG - Aktiengesellschaft (German: Stock Corporation)

A/S - Aktieselskab (Danish: Joint Stock Company)

LP – Limited Partnership

PLC - Public Limited Company

SA - Sociedad Anónima (Portuguese/Spanish: Public Limited Company)

SpA - Società per azioni (Italian: Joint Stock Company)

Oyj - Julkinen Osakeyhtiö (Finnish: Public Limited Company)

See Notes to Schedules of Investments.

TrueShares Technology, AI & Deep Learning ETF

**SCHEDULE OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 99.13%** |  |  |
| *Health Care - 17.11%* |  |  |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | 1425 | $1310672 |
| &nbsp;&nbsp;&nbsp;Guardant Health, Inc.<sup>(a)</sup> | 6596 | 609273 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.<sup>(a)</sup> | 6450 | 1289936 |
| &nbsp;&nbsp;&nbsp;Structure Therapeutics, Inc.<sup>(a)</sup> | 34377 | 1656971 |
|  |  | 4866852 |
| *Media - 4.49%* |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | 4452 | 1277101 |
| *Software & Tech Services - 49.80%<sup>(a)(b)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A | 19275 | 3977204 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A | 6737 | 2630192 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A | 8972 | 1059145 |
| &nbsp;&nbsp;&nbsp;HeartFlow, Inc. | 26885 | 654112 |
| &nbsp;&nbsp;&nbsp;MongoDB, Inc. | 6172 | 1510720 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc. | 5095 | 816830 |
| &nbsp;&nbsp;&nbsp;Samsara, Inc., Class A | 44724 | 1417304 |
| &nbsp;&nbsp;&nbsp;Schrodinger, Inc. | 45706 | 519220 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc. | 10449 | 1575918 |
|  |  | 14160645 |
| *Tech Hardware & Semiconductors - 27.73%<sup>(b)</sup>* |  |  |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.<sup>(a)</sup> | 6887 | 1401022 |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC<sup>(a)</sup> | 7592 | 1148518 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | 2248 | 695778 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | 611 | 668037 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 18617 | 3246805 |
| &nbsp;&nbsp;&nbsp;Vicor Corp.<sup>(a)</sup> | 4505 | 725305 |
|  |  | 7885465 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $23,191,973)** |  | 28190063 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 0.91%** |  |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Administration Class, 3.35% (7-day yield)<sup>(c)</sup> | 258185 | 258185 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $258,185)** |  | 258185 |
| **TOTAL INVESTMENTS - 100.04%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $23,450,158)** |  | $28448248 |
| **Liabilities in Excess of Other Assets - (0.04)%** |  | (10997) |
| **NET ASSETS - 100.00%** |  | $28437251 |

---

*<sup>(a)</sup>* *Non-income producing security.*

*<sup>(b)</sup>* *To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.*

*<sup>(c)</sup>* *Rate disclosed is a 7-Day Yield as of March 31, 2026.*

 

*Percentages are stated as a percent of net assets.*

Investment Abbreviations:

PLC - Public Limited Company

See Notes to Schedules of Investments.

TrueShares Sub-Advised ETFs

**NOTES TO SCHEDULES OF INVESTMENTS<br> March 31, 2026 (Unaudited)**

**NOTE 1 - ORGANIZATION**

Elevation Series Trust (the "Trust") was organized on March 7, 2022, as a Delaware statutory trust, and is authorized to issue multiple investment series. The Trust is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. These schedules of investments relate to six series of the Trust, Polen Dividend Income ETF ("DIVZ"), (formerly known as The Opal Dividend Income ETF), RiverNorth Enhanced Pre-Merger SPAC ETF ("SPCZ"), RiverNorth Patriot ETF ("FLDZ"), TrueShares Active Yield ETF ("ERNZ"), TrueShares Eagle Global Renewable Energy Income ETF ("RNWZ") and TrueShares Technology, AI & Deep Learning ETF ("LRNZ"), (each a "Fund" and collectively the "Funds"). Each Fund is an actively-managed exchange-traded fund ("ETF") that seeks to achieve its following investment objective:

---

| | |
|:---|:---|
| **Fund** | **Investment Objective** |
| Polen Dividend Income ETF | Provide capital appreciation with lower volatility and a higher dividend yield compared to the S&P 500 Index. |
| RiverNorth Enhanced Pre-Merger SPAC ETF | Preserve capital and provide incremental total return. |
| RiverNorth Patriot ETF | Capital growth. |
| TrueShares Active Yield ETF | Deliver a meaningfully higher yield compared to the S&P 500 Index, with a secondary focus on capital preservation and the opportunity for long-term growth of capital. |
| TrueShares Eagle Global Renewal Energy Income ETF | Long-term growth of capital. |
| TrueShares Technology, AI & Deep Learning ETF | Total return. |

---

The Funds commenced operations on the dates listed below, as series of Listed Funds Trust (the "Predecessor Funds"):

---

| | | |
|:---|:---|:---|
| **Fund** | **Diversified/<br> Non-Diversified** | **Commencement of Operations** |
| Polen Dividend Income ETF | Diversified | January 27, 2021 |
| RiverNorth Enhanced Pre-Merger SPAC ETF | Diversified | July 11, 2022 |
| RiverNorth Patriot ETF | Diversified | December 31, 2021 |
| TrueShares Active Yield ETF | Non-diversified | April 30, 2024 |
| TrueShares Eagle Global Renewal Energy Income ETF | Non-Diversified | December 8, 2022 |
| TrueShares Technology, AI & Deep Learning ETF | Non-Diversified | February 28, 2020 |

---

On March 5, 2025, the Board of Trustees of Listed Funds Trust approved a tax-free reorganization wherein all of the assets and liabilities of each Predecessor Fund were acquired by its respective Fund. In connection with this acquisition as of the close of business on June 13, 2025, shares of each Predecessor Funds were exchanged for an equivalent number of shares of the corresponding Funds. The Funds' net assets, net asset value per share, shares outstanding, net unrealized appreciation/depreciation and the results of operations of the Funds were unchanged from that of the Predecessor Funds as a result of the reorganization and were as listed below. The Predecessor Funds had investment objectives that were, in all material respects, the same as those of the Funds as described above. The Funds are a continuation of the Predecessor Funds, and therefore, the performance and financial history of the Predecessor Funds have been adopted by the Funds and will be used going forward. As a result, the information in these financial statements and notes to the financial statements for the periods prior to the close of business on June 13, 2025, reflects that of the Predecessor Funds, which ceased operations as of the date of the reorganization.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Net Assets, as<br> a result of the<br> reorganization** | **Net asset value per<br> share, as a result of<br> the reorganization** | **Shares outstanding,<br> as a result of the<br> reorganization** | **Net unrealized<br> appreciation/<br> depreciation, as<br> a result of the<br> reorganization** |
| Polen Dividend Income ETF | $172418598 | $34.76 | 4960000 | $11967189 |
| RiverNorth Enhanced Pre-Merger SPAC ETF | 5455952 | 27.98 | 195000 | 465095 |
| RiverNorth Patriot ETF | 4221461 | 28.14 | 150000 | 203175 |
| TrueShares Active Yield ETF | 147768753 | 22.32 | 6620000 | 196415 |
| TrueShares Eagle Global Renewal Energy Income ETF | 2419402 | 24.19 | 100000 | 66268 |
| TrueShares Technology, AI & Deep Learning ETF | 32772712 | 42.02 | 780000 | 3326629 |

---

The Funds currently offer an unlimited number of one class of shares, without par value, which are listed and traded on various exchanges. Shares of DIVZ, RNWZ and LRNZ are listed and traded on the NYSE Arca, Inc. Shares of SPCZ and FLDZ are listed and traded on the CBOE BZX Exchange, Inc. Shares of ERNZ are traded on the NASDAQ Stock Market, LLC. The Funds issue and redeem shares only in creation units ("Creation Units") which are offered on a continuous basis through Paralel Distributors LLC (the "Distributor"), without a sales load (but subject to transaction fees, if applicable), at the net asset value per share next determined after receipt of an order in proper form pursuant to the terms of the Authorized Participant Agreement, calculated as of the scheduled close of regular trading on the Exchange on any day on which the Exchange is open for business. The Funds do not issue fractional Creation Units. The offerings of the Funds' shares are registered under the Securities Act of 1933, as amended.

TrueShares Sub-Advised ETFs

**NOTES TO SCHEDULES OF INVESTMENTS<br> March 31, 2026 (Continued) (Unaudited)**

On March 6, 2026, the Board of Trustees of Elevation Series Trust determined to liquidate ERNZ following a recommendation by the Fund's investment adviser and sub-adviser, with a liquidation payment to shareholders to take place on April 1, 2026. After the close of business on March 24, 2026, the Fund no longer accepted creation orders. The last day of trading in the Fund on the NASDAQ Stock Market, LLC (the "Exchange") was on March 24, 2026. Subsequent to March 6, 2026, ERNZ did not pursue its stated investment objective or engage in any business activities except for the purposes of winding up its business and affairs, preserving the value of assets, paying its liabilities, and distributing its remaining assets to shareholders.

**NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES**

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their Schedules of Investments. The accompanying Schedules of Investments were prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). This requires management to make estimates and assumptions that affect the reported amounts in the Schedules of Investments. Actual results could differ from those estimates. The Funds are investment companies and follow accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Topic 946 "Financial Services – Investment Companies, including Accounting Standard Update 2013-08."

**Portfolio Valuation** – The net asset value per share ("NAV") of the Funds is determined no less frequently than daily, on each day that the New York Stock Exchange ("NYSE") is open for trading, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern time). The NAV is determined by dividing the value of each Fund's total assets less its liabilities by the number of shares outstanding.

Equity securities, including common stocks, closed-end funds, exchange-traded funds, business development companies, rights and warrants, traded on any exchange other than the NASDAQ Stock Market LLC ("NASDAQ") are valued at the last sale price on that business day. If there has been no sale that business day, those securities are valued at the mean of the most recent bid and ask prices on that business day. Securities traded on NASDAQ are valued at the NASDAQ Official Closing Price as determined by NASDAQ. Portfolio securities traded on more than one securities exchange are valued at the last sale price on the business day. Portfolio securities traded in the over-the-counter market, but excluding NASDAQ, are valued at the last quoted sale price in such market. Investments in mutual funds, including short-term investments and open-end funds, are generally priced at the ending NAV provided by the service agent of the funds.

U.S. government bonds and notes are valued at the mean of the most recent bid and asked prices on the business day. Options are valued at the mean of the highest bid and lowest ask prices on the principal exchange on which the option trades. If no quotations are available, fair value procedures will be used. Debt obligations with maturities of 60 days or less are valued at amortized cost. Most securities listed on a foreign exchange are valued at the last sale price at the close of the exchange on which the security is primarily traded. In certain countries market maker prices are used since they are the most representative of the daily trading activity. Market maker prices are usually the mean between the bid and ask prices. Certain markets are not closed at the time that the Funds price their portfolio securities. In these situations, snapshot prices are provided by the individual pricing services or other alternate sources at the close of the NYSE as appropriate. Securities not traded on a particular day are valued at the mean between the last reported bid and the asked quotes, or the last sale price when appropriate; otherwise fair value will be determined.

Investments in money market funds, including short-term investments, are generally priced at the ending NAV provided by the service agent of the funds. These securities

will be categorized as level 1 securities

Securities for which market quotations are not readily available, including circumstances under which TrueMark Investments, LLC (the "Adviser") determines that prices received are unreliable, are valued at fair value according to procedures established and adopted by the Trust's Board of Trustees (the "Board"). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the valuation designee with respect to the fair valuation of each Fund's portfolio securities, subject to oversight by and periodic reporting to the Board.

The Funds disclose the classification of their fair value measurements following a three-tier hierarchy based on the inputs used to measure fair value. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available.

Various inputs are used in determining the value of the Funds' investments as of the end of the reporting period. When inputs used fall into different levels of the fair value hierarchy, the level in the hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments. These inputs are categorized in the following hierarchy under applicable financial accounting standards:

Level 1 – Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

Level 2 – Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

Level 3 – Significant unobservable prices or inputs (including the Funds' own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

TrueShares Sub-Advised ETFs

**NOTES TO SCHEDULES OF INVESTMENTS<br> March 31, 2026 (Continued) (Unaudited)**

The following is a summary of the Funds' investments in the fair value hierarchy as of March 31, 2026:

**Polen Dividend Income ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Common Stocks | $214950341 | $– | $– | $214950341 |
| Limited Partnerships | 13213703 |  |  | 13213703 |
| Money Market Funds | 3411680 | – | – | 3411680 |
| Total | $231575724 | $– | $– | $231575724 |

---

**RiverNorth Enhanced Pre-Merger SPAC ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Special Purpose Acquisition Companies (SPACS) | $5718578 | $– | $– | $5718578 |
| Rights | 65576 |  |  | 65576 |
| Warrants | 73551 |  |  | 73551 |
| Money Market Funds | 138890 | – | – | 138890 |
| Total | $5996595 | $– | $– | $5996595 |

---

**RiverNorth Patriot ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Common Stocks | $3679194 | $– | $– | $3679194 |
| Limited Partnerships | 62929 |  |  | 62929 |
| Money Market Funds | 18012 | – | – | 18012 |
| Total | $3760135 | $– | $– | $3760135 |

---

**TrueShares Active Yield ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Money Market Funds | $5525052 | $– | $– | $5525052 |
| Total | $5525052 | $– | $– | $5525052 |

---

**TrueShares Eagle Global Renewable Energy Income ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Common Stocks | $3641940 | $– | $– | $3641940 |
| Limited Partnerships | 98149 |  |  | 98149 |
| Money Market Funds | 11256 | – | – | 11256 |
| Total | $3751345 | $– | $– | $3751345 |

---

**TrueShares Technology, AI & Deep Learning ETF**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 - Unadjusted<br> Quoted Prices** | **Level 2 - Other Significant<br> Observable Inputs** | **Level 3 - Significant<br> Unobservable Inputs** | **Total** |
| Common Stocks | $28190063 | $– | $– | $28190063 |
| Money Market Funds | 258185 | – | – | 258185 |
| Total | $28448248 | $– | $– | $28448248 |

---

*<sup>(a)</sup>* *For detailed descriptions and other security classifications, see the accompanying Schedule of Investments.*

**Cash and Cash Equivalents** – Cash and cash equivalents may include demand deposits and highly liquid investments, typically with original maturities of three months or less. Cash and cash equivalents are carried at cost, which approximates fair value.

**Securities Transactions and Investment Income**: Securities transactions are recorded as of the trade date.

**Foreign Securities** – The Funds may invest a portion of its assets in foreign securities. In the event that the Fund executes a foreign security transaction, the Fund will generally enter into a foreign currency spot contract to settle the foreign security transaction. Foreign securities may carry more risk than U.S. securities, such as political, market and currency risks.

The accounting records of each Fund are maintained in U.S. dollars. Prices of securities denominated in foreign currencies are translated into U.S. dollars at the closing rates of exchange at period end. Amounts related to the purchase and sale of foreign securities and investment income are translated at the rates of exchange prevailing on the respective dates of such transactions. Although the net assets and the values are presented at the foreign exchange rates at market close, the Funds do not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in prices of securities held.

TrueShares Sub-Advised ETFs

**NOTES TO SCHEDULES OF INVESTMENTS<br> March 31, 2026 (Continued) (Unaudited)**

A foreign currency spot contract is a commitment to purchase or sell a foreign currency at a future date, at a negotiated rate. The Fund may enter into foreign currency spot contracts to settle specific purchases or sales of securities denominated in a foreign currency and for protection from adverse exchange rate fluctuation. Risks to a Fund include the potential inability of the counterparty to meet the terms of the contract.

**Total Return Swaps**: SPCZ ETF may enter into total return swap agreements. The Fund may utilize swap agreements in an attempt to gain exposure to the securities in a market without actually purchasing those securities, or to hedge a position. A total return swap is a contract in which one party agrees to make periodic payments to another party based on the change in market value of the assets underlying the contract, which may include a specified security, basket of securities, or securities indices during the specified period, in return for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. Swap agreements will usually be done on a net basis, i.e., where the two parties make net payments with a fund receiving or paying, as the case may be, only the net amount of the two payments. The net amount of the excess, if any, of a fund's obligations over its entitlements with respect to each swap is accrued on a daily basis and an amount of cash or equivalents having an aggregate value at least equal to the accrued excess is maintained by the Fund.

The total return swap contracts are subject to master netting agreements, which are agreements between the Fund and its counterparties that provide for the net settlement of all transactions and collateral with the Fund through a single payment, in the event of default or termination.

The Fund did not hold any total return swap agreements as of March 31, 2026.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Elevation Series Trust

- **b. Investment Company Act file number:** 811-23812

- **c. CIK number of Registrant:** 0001936157

- **d. LEI of Registrant:** 549300QVQ3VLO2G2BM75

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

  - **Street Address 1:** 1700 Broadway Suite 2100

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80290

  - **Telephone number:** 8775249155

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

- **a. Name of Series:** TrueShares Eagle Global Renewable Energy Income ETF

- **b. EDGAR series identifier (if any):** S000092122

- **c. LEI of Series:** 529900QCUBGPS00PFG59

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $3164511.05

**Total Liabilities:** $1978.63

**Net Assets:** $3162532.42

**Cash Not Reported:** $34535.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000260045 | 7.30%                | 7.72%                | -0.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $195911.70                                 |
| Month 2  | $0.00                    | $222336.02                                 |
| Month 3  | $0.00                    | $-7937.52                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acciona SA                     | Acciona SA                                        | CUSIP: N/A<br>LEI: 54930002KP75TLLLNO21       | Long             | EC               | CORP              | ES        |       374 | NS      | $96314.21     | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsted AS                      | Orsted AS                                         | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | EC               | CORP              | DK        |      5997 | NS      | $144702.72    | 4.58%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Brookfield Renewable Partners  | Brookfield Renewable Partners                     | CUSIP: G16258108<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EC               | CORP              | BM        |      2505 | NS      | $81763.20     | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                      | Endesa SA                                         | CUSIP: N/A<br>LEI: 549300LHK07F2CHV4X31       | Long             | EC               | CORP              | ES        |      3410 | NS      | $142208.15    | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                        | SSE PLC                                           | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |      3740 | NS      | $128458.55    | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                      | PG&E Corp                                         | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |      6894 | NS      | $121127.58    | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                                | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      2388 | NS      | $221797.44    | 7.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corp                | Otter Tail Corp                                   | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       658 | NS      | $57752.66     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp               | Black Hills Corp                                  | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |       803 | NS      | $55736.23     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP SA                         | EDP SA                                            | CUSIP: N/A<br>LEI: 529900CLC3WDMGI9VH80       | Long             | EC               | CORP              | PT        |     11056 | NS      | $57825.60     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc            | Clearway Energy Inc                               | CUSIP: 18539C105<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |      5276 | NS      | $206660.92    | 6.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP Renovaveis SA              | EDP Renovaveis SA                                 | CUSIP: N/A<br>LEI: 529900MUFAH07Q1TAX06       | Long             | EC               | CORP              | ES        |      6373 | NS      | $100844.20    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Boralex Inc                    | Boralex Inc                                       | CUSIP: 09950M300<br>LEI: 5493004UT7HNQU2SVR90 | Long             | EC               | CORP              | CA        |      3826 | NS      | $100772.51    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortum Oyj                     | Fortum Oyj                                        | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |      4692 | NS      | $118661.24    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Northland Power Inc            | Northland Power Inc                               | CUSIP: 666511100<br>LEI: 8945002IJ77NEBK48M81 | Long             | EC               | CORP              | CA        |      6258 | NS      | $104997.28    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                       | Enel SpA                                          | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |     21252 | NS      | $230289.77    | 7.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Drax Group PLC                 | Drax Group PLC                                    | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |      9780 | NS      | $114625.56    | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                 | NRG Energy Inc                                    | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |       520 | NS      | $75992.80     | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET INSTITUTIONAL US  | STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS | CUSIP: 857492656<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |     11404 | NS      | $11403.68     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Verbund AG                     | Verbund AG                                        | CUSIP: N/A<br>LEI: 5299006UDSEJCTTEJS30       | Long             | EC               | CORP              | AT        |      1492 | NS      | $113215.82    | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc | American Electric Power Co Inc                    | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      2371 | NS      | $310790.68    | 9.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure  | HA Sustainable Infrastructure                     | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |      5277 | NS      | $193929.75    | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                         | RWE AG                                            | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               | CORP              | DE        |      4153 | NS      | $276879.47    | 8.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp                                  | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |       470 | NS      | $61541.80     | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Elevation Series Trust

**Signature:** Nick Austin

**Name of Signer:** Nick Austin

**Title:** Treasurer