# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-002597
**Filing Date:** 2025-9
**Character Count:** 624024
**Document Hash:** 54325db6f41d9b79b2eeec658b194f65
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-002597.hdr.sgml**: 20250908

**ACCESSION NUMBER**: 0001592900-25-002597

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250908

**DATE AS OF CHANGE**: 20250908

**EFFECTIVENESS DATE**: 20250908

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22961
- **FILM NUMBER:** 251300465

**BUSINESS ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

## Series and Classes Contracts Data

### Strive 500 ETF (Series ID: S000077125)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000237295 | Strive 500 ETF | STRV            |

### Strive U.S. Energy ETF (Series ID: S000077126)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000237296 | Strive U.S. Energy ETF | DRLL            |

### Strive U.S. Semiconductor ETF (Series ID: S000077127)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000237297 | Strive U.S. Semiconductor ETF | SHOC            |

### Strive Emerging Markets Ex-China ETF (Series ID: S000077313)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000237654 | Strive Emerging Markets Ex-China ETF | STXE            |

### Strive 1000 Growth ETF (Series ID: S000078017)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000238755 | Strive 1000 Growth ETF | STXG            |

### Strive 1000 Value ETF (Series ID: S000078018)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000238756 | Strive 1000 Value ETF | STXV            |

### Strive Small-Cap ETF (Series ID: S000078019)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000238757 | Strive Small-Cap ETF | STXK            |

### Strive 1000 Dividend Growth ETF (Series ID: S000078020)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000238758 | Strive 1000 Dividend Growth ETF | STXD            |

### Strive Natural Resources and Security ETF (Series ID: S000079383)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000240405 | Strive Natural Resources and Security ETF | FTWO            |

### Strive International Developed Markets ETF (Series ID: S000080100)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000241772 | Strive International Developed Markets ETF | STXI            |

### Strive Total Return Bond ETF (Series ID: S000080332)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000242670 | Strive Total Return Bond ETF | STXT            |

### Strive Enhanced Income Short Maturity ETF (Series ID: S000080333)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000242671 | Strive Enhanced Income Short Maturity ETF | BUXX            |

### Strive Mid-Cap ETF (Series ID: S000084251)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000248532 | Strive Mid-Cap ETF | STXM            |

?xml version='1.0' encoding='ASCII'? ck0001592900-20250630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES**

**Investment Company Act file number <u>811-22961</u>**

**<u>EA Series Trust</u>**

(Exact name of registrant as specified in charter)

**<u>3803 West Chester Pike, Suite 150</u>**

**<u>Newtown Square, PA 19073</u>**

(Address of principal executive offices) (Zip code)

**<u>3803 West Chester Pike, Suite 150</u>**

**<u>Newtown Square, PA 19073</u>**

(Name and address of agent for service)

**<u>215-330-4476</u>**

Registrant's telephone number, including area code

Date of fiscal year end: **<u>June 30, 2025</u>**

Date of reporting period: **<u>June 30, 2025</u>**

------

**<u>Item 1. Report to Stockholders</u>.**

(a) ------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Dividend Growth ETF<br>Ticker: STXD<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>www.strivefunds.com/stxd |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Dividend Growth ETF<br>Ticker: STXD<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>www.strivefunds.com/stxd |

---

**This annual shareholder report contains important information about the Strive 1000 Dividend Growth ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxd. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $33 | 0.35% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g2.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (11/9/2022)** |
| Strive 1000 Dividend Growth ETF - NAV | 12.13% | 15.49% |
| Bloomberg US 1000 Dividend Growth Index | 12.53% | 15.92% |
| Bloomberg US 1000 Index | 15.45% | 22.69% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxd for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxd for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxd for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

Growth-tilted U.S. large- and mid-cap stocks with a history of consistently growing dividends rose strongly during the reporting period, though they trailed the stronger returns of growth-tilted companies favored by investors during the period. Companies in the financials sector benefited from interest rates that remained high relative to recent years which boosted net interest income for regional banks, while insurance stocks also gained. The technology sector benefited from increased demand due to the rapid advancements in artificial intelligence (AI) technology, demand for specialized chips, and increased computing power. The health care sector detracted from returns as the changing regulatory environment impacted large pharmaceutical companies as well as companies in the managed care industry that rely heavily on government programs.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Dividend Growth ETF<br>Ticker: STXD<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>www.strivefunds.com/stxd |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Dividend Growth ETF<br>Ticker: STXD<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>www.strivefunds.com/stxd |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $52081909 | **Portfolio Turnover Rate\*** | 18% |
| **# of Portfolio Holdings** | 203 | **Advisory Fees Paid** | $154620 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Information Technology | 25.4% |
| Financials | 25.2% |
| Health Care | 14.7% |
| Industrials | 14.0% |
| Consumer Staples | 7.1% |
| Consumer Discretionary | 6.6% |
| Materials | 3.0% |
| Real Estate | 2.2% |
| Utilities | 1.6% |
| Energy | 0.1% |
| Cash and Cash Equivalents | 0.1% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| Broadcom, Inc. | 6.9% |
| Microsoft Corp. | 6.0% |
| JPMorgan Chase & Co. | 4.8% |
| Eli Lilly & Co. | 4.0% |
| Visa, Inc. - Class A | 3.7% |
| Mastercard, Inc. - Class A | 2.7% |
| Costco Wholesale Corp. | 2.6% |
| Procter & Gamble Co. | 2.2% |
| Home Depot, Inc. | 2.2% |
| Oracle Corp. | 2.1% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxd or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxd. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Growth ETF<br>Ticker: STXG<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxg |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Growth ETF<br>Ticker: STXG<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxg |

---

**This annual shareholder report contains important information about the Strive 1000 Growth ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxg. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $18 | 0.18% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g3.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (11/9/2022)** |
| Strive 1000 Growth ETF - NAV | 16.26% | 27.70% |
| Bloomberg US 1000 Growth Index | 16.50% | 27.95% |
| Bloomberg US 1000 Index | 15.45% | 22.69% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxg for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxg for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxg for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

Growth-tilted U.S. large- and mid-cap stocks rose strongly during the reporting period. Companies in the technology sector, particularly those in the semiconductor industry, benefited from increased demand due to the rapid advancements in artificial intelligence (AI) technology, demand for specialized chips, and increased computing power. In the communication sector, media and entertainment stocks contributed, as the industry realized benefits of AI for advertising. The energy and health care sectors detracted modestly during the period.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Growth ETF<br>Ticker: STXG<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxg |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Growth ETF<br>Ticker: STXG<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxg |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $129629353 | **Portfolio Turnover Rate\*** | 8% |
| **# of Portfolio Holdings** | 697 | **Advisory Fees Paid** | $175009 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions.  | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions.  | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions.  | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions.  |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Information Technology | 40.7% |
| Consumer Discretionary | 12.2% |
| Communication Services | 11.3% |
| Financials | 10.7% |
| Industrials | 9.5% |
| Health Care | 7.4% |
| Consumer Staples | 3.8% |
| Real Estate | 1.5% |
| Materials | 1.5% |
| Utilities | 0.6% |
| Energy | 0.5% |
| Cash and Cash Equivalents | 0.3% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| NVIDIA Corp.  | 9.0% |
| Microsoft Corp. | 8.9% |
| Apple, Inc. | 7.3% |
| Amazon.com, Inc. | 5.1% |
| Meta Platforms, Inc. - Class A | 3.9% |
| Broadcom, Inc. | 3.1% |
| Alphabet, Inc. - Class A | 2.5% |
| Tesla, Inc. | 2.2% |
| Alphabet, Inc. - Class C | 2.0% |
| Eli Lilly & Co. | 1.6% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxg or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxg. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Value ETF<br>Ticker: STXV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxv |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Value ETF<br>Ticker: STXV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxv |

---

**This annual shareholder report contains important information about the Strive 1000 Value ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxv. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $17 | 0.18% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g4.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (11/9/2022)** |
| Strive 1000 Value ETF - NAV | 12.41% | 11.81% |
| Bloomberg US 1000 Value Index | 12.60% | 12.02% |
| Bloomberg US 1000 Index | 15.45% | 22.69% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxv for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxv for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxv for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

Value tilted U.S. large- and mid-cap stocks rose strongly during the reporting period though value-tilted stocks trailed the stronger returns of growth-tilted companies favored by investors during the period. Companies in the financials sector benefited from interest rates that remained high relative to recent years, which boosted net interest income. The energy sector was also a notable detractor amid the expected production increase amid slowing energy demand in major economies. Both the consumer discretionary and materials sectors struggled with trade uncertainty and the impacts of tariffs.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Value ETF<br>Ticker: STXV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxv |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 1000 Value ETF<br>Ticker: STXV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxv |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $62250734 | **Portfolio Turnover Rate\*** | 17% |
| **# of Portfolio Holdings** | 702 | **Advisory Fees Paid** | $101016 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Financials | 22.5% |
| Health Care | 14.6% |
| Energy | 9.9% |
| Consumer Staples | 9.5% |
| Industrials | 9.2% |
| Information Technology | 8.4% |
| Utilities | 6.9% |
| Consumer Discretionary | 5.8% |
| Communication Services | 5.2% |
| Real Estate | 4.1% |
| Materials | 3.7% |
| Cash and Cash Equivalents | 0.2% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| JPMorgan Chase & Co. | 3.2% |
| Exxon Mobil Corp. | 3.0% |
| Johnson & Johnson | 2.4% |
| Bank of America Corp. | 2.0% |
| Philip Morris International, Inc. | 1.6% |
| International Business Machines Corp. | 1.5% |
| Chevron Corp. | 1.5% |
| AT&T, Inc. | 1.4% |
| Wells Fargo & Co. | 1.3% |
| Verizon Communications, Inc. | 1.1% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxv or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxv. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 500 ETF<br>Ticker: STRV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/strv |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 500 ETF<br>Ticker: STRV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/strv |

---

**This annual shareholder report contains important information about the Strive 500 ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/strv. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $5 | 0.05% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g5.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (9/14/2022)** |
| Strive 500 ETF - NAV | 15.76% | 19.64% |
| Bloomberg 500 Index/Solactive GBS United States 500 Index | 15.85% | 19.72% |
| Bloomberg 500 Index | 15.85% | 19.70% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 26, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Large Cap Index. Prior to January 26, 2024, the Fund's investment strategy was to track the investment results of the Solactive GBS United States 500 Index. Performance shown for the Bloomberg 500 Index/Solactive GBS United States 500 Index for the period prior to January 26, 2024 is that of the Solactive GBS United States 500 Index and for the period beginning January 26, 2024 is that of the Bloomberg US Large Cap Index. Visit www.strivefunds.com/strv for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 26, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Large Cap Index. Prior to January 26, 2024, the Fund's investment strategy was to track the investment results of the Solactive GBS United States 500 Index. Performance shown for the Bloomberg 500 Index/Solactive GBS United States 500 Index for the period prior to January 26, 2024 is that of the Solactive GBS United States 500 Index and for the period beginning January 26, 2024 is that of the Bloomberg US Large Cap Index. Visit www.strivefunds.com/strv for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 26, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Large Cap Index. Prior to January 26, 2024, the Fund's investment strategy was to track the investment results of the Solactive GBS United States 500 Index. Performance shown for the Bloomberg 500 Index/Solactive GBS United States 500 Index for the period prior to January 26, 2024 is that of the Solactive GBS United States 500 Index and for the period beginning January 26, 2024 is that of the Bloomberg US Large Cap Index. Visit www.strivefunds.com/strv for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

U.S. large-cap stocks rose strongly during the reporting period. The technology sector benefited from increased demand due to the rapid advancements in artificial intelligence (AI) technology, demand for specialized chips, and increased computing power. Companies in the financials sector benefited from interest rates that remain high relative to recent years which boosted net interest income. In the communication sector, media and entertainment stocks contributed, as the industry realized benefits of AI for advertising. The energy and health care sectors detracted modestly during the period.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 500 ETF<br>Ticker: STRV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/strv |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive 500 ETF<br>Ticker: STRV<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/strv |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $923505228 | **Portfolio Turnover Rate\*** | 2% |
| **# of Portfolio Holdings** | 505 | **Advisory Fees Paid** | $375308 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Information Technology | 33.4% |
| Financials | 13.8% |
| Consumer Discretionary | 10.3% |
| Communication Services | 10.1% |
| Health Care | 9.4% |
| Industrials | 8.6% |
| Consumer Staples | 5.3% |
| Energy | 3.0% |
| Utilities | 2.2% |
| Real Estate | 2.0% |
| Materials | 1.8% |
| Cash & Cash Equivalents | 0.1% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| NVIDIA Corp.  | 7.0% |
| Microsoft Corp. | 7.0% |
| Apple, Inc. | 5.7% |
| Amazon.com, Inc. | 4.0% |
| Meta Platforms, Inc. - Class A | 3.1% |
| Broadcom, Inc. | 2.4% |
| Alphabet, Inc. - Class A | 1.9% |
| Tesla, Inc. | 1.7% |
| Alphabet, Inc. - Class C | 1.6% |
| JPMorgan Chase & Co. | 1.5% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/strv or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/strv. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Emerging Markets Ex-China ETF<br>Ticker: STXE<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxe |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Emerging Markets Ex-China ETF<br>Ticker: STXE<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxe |

---

**This annual shareholder report contains important information about the Strive Emerging Markets Ex-China ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxe. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $30 | 0.32% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**

![7](ck0001592900-20250630_g6.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (1/30/2023)** |
| Strive Emerging Markets Ex-China ETF - NAV | 8.72% | 11.53% |
| Bloomberg Emerging Markets Ex-China Large & Mid-Cap Index | 9.53% | 12.93% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxe for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxe for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxe for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

Stocks in the emerging market countries, excluding China, increased during the reporting period, led by equity returns in Taiwan and South Africa. Taiwanese equities were driven primarily by the technology sector, while returns in South Africa were distributed broadly across the sectors represented in the portfolio. South Korean technology detracted as did Indonesian financials. Equities in Chile and Turkey also detracted slightly from total returns.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Emerging Markets Ex-China ETF<br>Ticker: STXE<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxe |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Emerging Markets Ex-China ETF<br>Ticker: STXE<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxe |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $99300828 | **Portfolio Turnover Rate\*** | 21% |
| **# of Portfolio Holdings** | 238 | **Advisory Fees Paid** | $284644 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Financials | 30.4% |
| Information Technology | 29.8% |
| Materials | 6.9% |
| Industrials | 5.8% |
| Consumer Discretionary | 5.4% |
| Energy | 5.4% |
| Communication Services | 5.4% |
| Consumer Staples | 4.8% |
| Utilities | 2.8% |
| Health Care | 2.6% |
| Real Estate | 0.7% |

---

---

| | |
|:---|:---|
| **TOP 10 COUNTRY WEIGHTING<br>(as a % of Net Assets)** | **TOP 10 COUNTRY WEIGHTING<br>(as a % of Net Assets)** |
| India | 29.8% |
| Taiwan | 22.6% |
| South Korea | 14.2% |
| Saudi Arabia | 7.1% |
| Brazil | 5.9% |
| South Africa | 4.2% |
| Mexico | 3.3% |
| United Arab Emirates | 2.1% |
| Indonesia | 1.9% |
| Thailand | 1.8% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxe or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxe. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Enhanced Income Short Maturity ETF<br>Ticker: BUXX<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/buxx |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Enhanced Income Short Maturity ETF<br>Ticker: BUXX<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/buxx |

---

**This annual shareholder report contains important information about the Strive Enhanced Income Short Maturity ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/buxx. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $23 | 0.25% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g7.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (8/9/2023)** |
| Strive Enhanced Income Short Maturity ETF - NAV | 5.84% | 6.20% |
| Bloomberg US Treasury Bill Index | 4.77% | 5.10% |
| Bloomberg U.S. Aggregate Bond Index | 6.08% | 4.85% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/buxx for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/buxx for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/buxx for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

The Fund provides exposure to short-term investment grade assets in structured credit and investment grade corporate sectors to provide durable enhanced yield and outperformance over a full market cycle. The Fund's return was positively impacted by interest rates declining over the period.

The Fund's allocations to asset-backed securities (ABS), investment-grade corporate bonds, and agency commercial mortgage-backed securities were the most significant drivers of positive performance, while exposure to collateralized loan obligations (CLOs), non-agency residential mortgage-backed securities, and Treasuries were smaller positive contributions to overall performance. ABS was the most significant contributor to positive performance, specifically with income generation coming from an overweight to short-duration consumer and auto credits that benefited from the attractive higher yields on the front end of the yield curve. The Fund's higher yield profile, duration, and tighter spreads all contributed to relative outperformance versus the benchmark. The Fund's allocations to Treasuries and CLOs led to less relative outperformance versus other fixed income sectors like securitized credit that had higher total returns during the period.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Enhanced Income Short Maturity ETF<br>Ticker: BUXX<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/buxx |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Enhanced Income Short Maturity ETF<br>Ticker: BUXX<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/buxx |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $315185367 | **Portfolio Turnover Rate\*** | 54% |
| **# of Portfolio Holdings** | 303 | **Advisory Fees Paid** | $454013 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **INVESTMENT WEIGHTING<br>(as a % of Net Assets)** | **INVESTMENT WEIGHTING<br>(as a % of Net Assets)** |
| Asset-Backed Securities | 28.4% |
| Corporate Bonds | 26.4% |
| Collateralized Mortgage Obligations | 18.9% |
| Collateralized Loan Obligations | 15.5% |
| Cash and Cash Equivalents | 5.0% |
| Mortgage-Backed Securities | 3.0% |
| U.S. Treasury Bills | 2.8% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/buxx or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/buxx. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive International Developed Markets ETF<br>Ticker: STXI<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxi |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive International Developed Markets ETF<br>Ticker: STXI<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxi |

---

**This annual shareholder report contains important information about the Strive International Developed Markets ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxi. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $28 | 0.29% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g8.jpg)

---

| | | |
|:---|:---|:---|
| **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** |
| | **One Year** | **Since Inception (6/25/2024)** |
| Strive International Developed Markets ETF - NAV | 17.40% | 16.36% |
| Bloomberg Developed Markets Ex US Large & Mid Cap Index | 18.99% | 18.06% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxi for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxi for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxi for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

Stocks rose strongly in the developed markets outside of the U.S. during the reporting period. German industrials and financials contributed positively, as did the financials sector in Canada and the U.K. Canada's central bank and the Bank of England increased rates multiple times in the reporting period This widened margins for banks and insurers, pushing profits higher. The largest detractor was the health care sector in Denmark, as global competition and regulatory shift weighted on performance.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive International Developed Markets ETF<br>Ticker: STXI<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxi |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive International Developed Markets ETF<br>Ticker: STXI<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxi |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $18606874 | **Portfolio Turnover Rate\*** | 12% |
| **# of Portfolio Holdings** | 251 | **Advisory Fees Paid** | $41440 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Financials | 28.9% |
| Industrials | 17.7% |
| Health Care | 10.5% |
| Consumer Discretionary | 8.5% |
| Information Technology | 8.9% |
| Consumer Staples | 7.0% |
| Materials | 5.7% |
| Energy | 4.7% |
| Communication Services | 3.9% |
| Utilities | 3.1% |
| Real Estate | 0.6% |
| Cash and Cash Equivalents | 0.5% |

---

---

| | |
|:---|:---|
| **TOP 10 COUNTRY WEIGHTING<br>(as a % of Net Assets)** | **TOP 10 COUNTRY WEIGHTING<br>(as a % of Net Assets)** |
| Japan | 17.5% |
| United Kingdom | 14.0% |
| Canada | 11.9% |
| France | 11.7% |
| Germany | 10.2% |
| Switzerland | 9.5% |
| Australia | 5.7% |
| Netherlands | 4.4% |
| Spain | 2.9% |
| Italy | 2.7% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxi or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxi. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Mid-Cap ETF<br>Ticker: STXM<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxm |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Mid-Cap ETF<br>Ticker: STXM<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxm |

---

**This Annual Shareholder Report contains important information about the Strive Mid-Cap ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can https://www.strivefunds.com/stxm. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $17 | 0.18% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g9.jpg)

---

| | | |
|:---|:---|:---|
| **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** |
| | **One Year** | **Since Inception (4/10/2024)** |
| Strive Mid-Cap ETF - NAV | 11.29% | 7.59% |
| Bloomberg US 400 Index | 11.43% | 7.88% |
| Bloomberg US 1000 Index | 15.45% | 17.49% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxm for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxm for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxm for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

U.S. Mid Cap stocks rose strongly during the reporting period. Companies in the financials sector benefited from interest rates that remained high relative to recent years which boosted net interest income for regional banks, while insurance stocks also gained. The technology sector benefited from increased demand due to the rapid advancements in artificial intelligence (AI) technology, demand for specialized chips, and increased computing power. The energy and health care sectors detracted modestly during the period.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Mid-Cap ETF<br>Ticker: STXM<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxm |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Mid-Cap ETF<br>Ticker: STXM<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxm |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $17154117 | **Portfolio Turnover Rate\*** | 24% |
| **# of Portfolio Holdings** | 391 | **Advisory Fees Paid** | $24124 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Industrials | 22.2% |
| Financials | 15.8% |
| Information Technology | 13.8% |
| Consumer Discretionary | 12.9% |
| Health Care | 9.1% |
| Real Estate | 6.8% |
| Consumer Staples | 5.5% |
| Materials | 5.4% |
| Utilities | 3.1% |
| Energy | 2.7% |
| Communication Services | 2.5% |
| Cash & Cash Equivalents | 0.2% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| NRG Energy, Inc. | 0.9% |
| International Paper Co. | 0.7% |
| EMCOR Group, Inc. | 0.7% |
| Jabil, Inc. | 0.6% |
| AerCap Holdings NV | 0.6% |
| CyberArk Software Ltd. | 0.6% |
| Nutanix, Inc. - Class A | 0.6% |
| Guidewire Software, Inc. | 0.6% |
| Casey's General Stores, Inc. | 0.6% |
| Flex Ltd. | 0.5% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxm or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxm. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Natural Resources and Security ETF<br>Ticker: FTWO<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/ftwo |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Natural Resources and Security ETF<br>Ticker: FTWO<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/ftwo |

---

**This annual shareholder report contains important information about the Strive Natural Resources and Security ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/ftwo. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $50 | 0.49% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g10.jpg)

---

| | | |
|:---|:---|:---|
| **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** |
| | **One Year** | **Since Inception (8/30/2023)** |
| Strive Natural Resources and Security ETF - NAV | 28.36% | 22.49% |
| Bloomberg FAANG 2.0 Select Index | 29.08% | 23.16% |
| Bloomberg US 1000 Index | 15.45% | 20.44% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.** Visit www.strivefunds.com/ftwo for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.** Visit www.strivefunds.com/ftwo for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.** Visit www.strivefunds.com/ftwo for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

North American stocks in the natural resources and security industries saw remarkable returns over the reporting period. Industries seen as traditional inflation hedges and beneficiaries of deglobalization generated strong positive returns during the year. Companies in the nuclear energy industry benefited from the market's expectation for significant demand growth as advances in artificial intelligence (AI) technology require large amounts of reliable energy, as well as policy shifts and deregulation that make the industry more desirable for future growth. Additionally, gold and precious metals benefited from trade uncertainty as battery manufacturers try to source more raw materials in North America. Aerospace and defense benefited from increased geopolitical uncertainty surrounding Russia, China, and Iran throughout the year. Companies in the agriculture sector outperformed due to a convergence of technology adoption and broader structural shifts in inflation and trade uncertainly that benefited North America. The only sector in this fund that underperformed was fuel, which detracted amid a volatile year of increased production and weakening demand.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Natural Resources and Security ETF<br>Ticker: FTWO<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/ftwo |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Natural Resources and Security ETF<br>Ticker: FTWO<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/ftwo |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $35652251 | **Portfolio Turnover Rate\*** | 21% |
| **# of Portfolio Holdings** | 51 | **Advisory Fees Paid** | $117333 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Industrials | 32.5% |
| Materials | 27.4% |
| Energy | 25.0% |
| Utilities | 14.4% |
| Consumer Staples | 0.6% |
| Cash & Cash Equivalents | 0.1% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| Constellation Energy Corp. | 13.6% |
| Deere & Co. | 8.8% |
| Exxon Mobil Corp. | 7.0% |
| General Electric Co. | 4.6% |
| Cameco Corp. | 4.3% |
| Newmont Corp. | 3.6% |
| Chevron Corp. | 3.5% |
| Corteva, Inc. | 3.5% |
| Freeport-McMoRan, Inc. | 3.4% |
| RTX Corp. | 3.4% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/ftwo or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/ftwo. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Small-Cap ETF<br>Ticker: STXK<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxk |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Small-Cap ETF<br>Ticker: STXK<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxk |

---

**This annual shareholder report contains important information about the Strive Small-Cap ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxk. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $16 | 0.18% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g11.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (11/9/2022)** |
| Strive Small-Cap ETF - NAV | 6.46% | 10.36% |
| Bloomberg US 600 Index/Bloomberg US 2000 Index | 6.69% | 10.55% |
| Bloomberg US 1000 Index | 15.45% | 22.69% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 25, 2023, the Fund's investment objective changed to track the total return performance, before fees and expenses, of an index composed of U.S. small-capitalization companies, and the Fund's investment strategy changed to track the investment results of the Bloomberg 600 Index. Prior to January 25, 2023, the Fund's investment objective was to track the total return performance, before fees and expenses, of an index composed of U.S. small- and mid-capitalization companies, and the Fund's investment strategy was to track the investment results of the Bloomberg US 2000 Index. Performance shown for the Bloomberg US 600 Index/Bloomberg US 2000 Index for periods prior to January 25, 2023 is that of the Bloomberg US 2000 Index and for periods beginning January 25, 2023 is that of the Bloomberg US 600 Index. Visit www.strivefunds.com/stxk for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 25, 2023, the Fund's investment objective changed to track the total return performance, before fees and expenses, of an index composed of U.S. small-capitalization companies, and the Fund's investment strategy changed to track the investment results of the Bloomberg 600 Index. Prior to January 25, 2023, the Fund's investment objective was to track the total return performance, before fees and expenses, of an index composed of U.S. small- and mid-capitalization companies, and the Fund's investment strategy was to track the investment results of the Bloomberg US 2000 Index. Performance shown for the Bloomberg US 600 Index/Bloomberg US 2000 Index for periods prior to January 25, 2023 is that of the Bloomberg US 2000 Index and for periods beginning January 25, 2023 is that of the Bloomberg US 600 Index. Visit www.strivefunds.com/stxk for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective January 25, 2023, the Fund's investment objective changed to track the total return performance, before fees and expenses, of an index composed of U.S. small-capitalization companies, and the Fund's investment strategy changed to track the investment results of the Bloomberg 600 Index. Prior to January 25, 2023, the Fund's investment objective was to track the total return performance, before fees and expenses, of an index composed of U.S. small- and mid-capitalization companies, and the Fund's investment strategy was to track the investment results of the Bloomberg US 2000 Index. Performance shown for the Bloomberg US 600 Index/Bloomberg US 2000 Index for periods prior to January 25, 2023 is that of the Bloomberg US 2000 Index and for periods beginning January 25, 2023 is that of the Bloomberg US 600 Index. Visit www.strivefunds.com/stxk for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

U.S. Small Cap stocks rose modestly during the period. Companies in the financials sector benefited from interest rates that remained high relative to recent years which boosted net interest income for regional banks, while insurance stocks also gained. The energy sector was also a notable detractor amid the expected production increase amid slowing energy demand in major economies. Both the energy and materials sectors struggled with trade uncertainty and the impacts of tariffs. The health care sector also detracted broadly from performance.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Small-Cap ETF<br>Ticker: STXK<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxk |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Small-Cap ETF<br>Ticker: STXK<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxk |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $60701238 | **Portfolio Turnover Rate\*** | 32% |
| **# of Portfolio Holdings** | 593 | **Advisory Fees Paid** | $93798 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Financials | 17.7% |
| Industrials | 17.7% |
| Information Technology | 13.5% |
| Consumer Discretionary | 12.5% |
| Health Care | 11.1% |
| Real Estate | 7.4% |
| Materials | 4.9% |
| Energy | 4.5% |
| Utilities | 4.5% |
| Communication Services | 3.1% |
| Consumer Staples | 2.9% |
| Cash and Cash Equivalents | 0.2% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| Nebius Group NV | 0.5% |
| AeroVironment, Inc. | 0.4% |
| AST SpaceMobile, Inc. | 0.4% |
| Celsius Holdings, Inc. | 0.4% |
| NEXTracker, Inc. - Class A | 0.4% |
| National Fuel Gas Co. | 0.4% |
| Oshkosh Corp. | 0.4% |
| Five Below, Inc. | 0.4% |
| Kratos Defense & Security Solutions, Inc. | 0.4% |
| Dycom Industries, Inc. | 0.4% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxk or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxk. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Total Return Bond ETF<br>Ticker: STXT<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxt |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Total Return Bond ETF<br>Ticker: STXT<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxt |

---

**This annual shareholder report contains important information about the Strive Total Return Bond ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/stxt. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $46 | 0.49% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![7](ck0001592900-20250630_g12.jpg)

---

| | | |
|:---|:---|:---|
| **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** | **CUMULATIVE TOTAL RETURNS** |
| | **One Year** | **Since Inception (8/9/2023)** |
| Strive Total Return Bond ETF - NAV | 6.26% | 5.58% |
| Bloomberg U.S. Aggregate Bond Index | 6.08% | 4.85% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxt for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxt for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Visit www.strivefunds.com/stxt for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

The Fund provides actively managed core fixed income exposure with a tactical allocation to structured credit and high-yield corporates. The Fund's return was positively impacted by interest rates declining over the period.

The Fund's allocation to agency residential mortgage-backed securities (RMBS), asset-backed securities, and investment-grade corporate sectors were the most significant drivers of positive performance, while collateralized loan obligations, corporate bonds and convertibles were smaller positive contributors to overall performance. The Fund's allocation to agency RMBS was the largest contributor to positive performance given its largest weighting in the portfolio, duration positioning, and an overweight to higher-coupon agency RMBS. The use of treasury futures to increase the Fund's duration in line with the Bloomberg U.S. Aggregate Bond Index also increased performance with a move lower in treasury rates during the period.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Total Return Bond ETF<br>Ticker: STXT<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxt |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive Total Return Bond ETF<br>Ticker: STXT<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/stxt |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $129398967 | **Portfolio Turnover Rate\*** | 39% |
| **# of Portfolio Holdings** | 243 | **Advisory Fees Paid** | $552225 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **SECTOR WEIGHTING<br>(as a % of Net Assets)** | **SECTOR WEIGHTING<br>(as a % of Net Assets)** |
| Mortgage-Backed Securities | 44.0% |
| Asset-Backed Securities | 16.1% |
| U.S. Treasury Securities | 13.7% |
| Corporate Bonds | 10.0% |
| Collateralized Loan Obligations | 7.0% |
| Collateralized Mortgage Obligations | 4.5% |
| Convertible Bonds | 1.4% |
| Cash and Cash Equivalents | 3.3% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/stxt or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/stxt. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Energy ETF<br>Ticker: DRLL<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/drll |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Energy ETF<br>Ticker: DRLL<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/drll |

---

**This annual shareholder report contains important information about the Strive U.S. Energy ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/drll. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $36 | 0.41% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![6](ck0001592900-20250630_g13.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (8/8/2022)** |
| Strive U.S. Energy ETF - NAV | (6.62)% | 5.77% |
| Bloomberg US Energy Select Index/<br>Solactive United States Energy Regulated Capped Index | (6.30)% | 6.16% |
| Bloomberg US 1000 Index | 15.45% | 16.36% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective April 11, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Energy Select Index. Prior to April 11, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Energy Regulated Capped Index. Performance shown for the Bloomberg US Energy Select Index/Solactive United States Energy Regulated Capped Index for periods prior to April 11, 2024 is that of the Solactive United States Energy Regulated Capped Index and for periods beginning April 11, 2024 is that of the Bloomberg US Energy Select Index. Visit www.strivefunds.com/drll for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective April 11, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Energy Select Index. Prior to April 11, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Energy Regulated Capped Index. Performance shown for the Bloomberg US Energy Select Index/Solactive United States Energy Regulated Capped Index for periods prior to April 11, 2024 is that of the Solactive United States Energy Regulated Capped Index and for periods beginning April 11, 2024 is that of the Bloomberg US Energy Select Index. Visit www.strivefunds.com/drll for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective April 11, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Energy Select Index. Prior to April 11, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Energy Regulated Capped Index. Performance shown for the Bloomberg US Energy Select Index/Solactive United States Energy Regulated Capped Index for periods prior to April 11, 2024 is that of the Solactive United States Energy Regulated Capped Index and for periods beginning April 11, 2024 is that of the Bloomberg US Energy Select Index. Visit www.strivefunds.com/drll for more recent performance information. |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

U.S. large- and mid-cap energy stocks fell in the reporting period amid a volatile year for the energy sector. Energy stocks faced several headwinds throughout the year. The oil and gas environment was marked by significant volatility as the U.S. and other oil exporting countries announced production increases amid slowing energy demand in major economies and trade uncertainty. The largest detractors were companies within the oil and gas exploration and products industry. These firms were pressured by falling crude prices, which reduced profit margins and investor confidence. Integrated oil companies didn't fare much better as they dealt with volatile macroeconomic conditions and lower margins on refined oil products.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Energy ETF<br>Ticker: DRLL<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/drll |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Energy ETF<br>Ticker: DRLL<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/drll |

---

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $261916756 | **Portfolio Turnover Rate\*** | 8% |
| **# of Portfolio Holdings** | 39 | **Advisory Fees Paid** | $1133771 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **INDUSTRY WEIGHTING<br>(as a % of Net Assets)** | **INDUSTRY WEIGHTING<br>(as a % of Net Assets)** |
| Integrated Oil & Gas | 46.0% |
| Oil & Gas Exploration & Production | 38.6% |
| Oil & Gas Refining & Marketing | 14.5% |
| Automotive Retail | 0.8% |
| Real Estate | 0.1% |

---

---

| | |
|:---|:---|
| **Top 10 Holdings<br>(as a % of Net Assets)** | **Top 10 Holdings<br>(as a % of Net Assets)** |
| Exxon Mobil Corp. | 22.5% |
| Chevron Corp. | 20.5% |
| EOG Resources, Inc. | 4.7% |
| Phillips 66 | 4.6% |
| Marathon Petroleum Corp | 4.6% |
| ConocoPhillips | 4.5% |
| Valero Energy Corp | 4.4% |
| Hess Corp | 4.1% |
| EQT Corp | 3.6% |
| Occidental Petroleum Corp | 3.0% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/drll or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/drll. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Semiconductor ETF<br>Ticker: SHOC<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/shoc |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Semiconductor ETF<br>Ticker: SHOC<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/shoc |

---

**This annual shareholder report contains important information about the Strive U.S. Semiconductor ETF (the "Fund") for the period of August 1, 2024 to June 30, 2025 (the "Period"). You can find additional information about the Fund at https://www.strivefunds.com/shoc. You can also request this information by contacting us at (215) 330-4476. This report describes changes to the Fund that occurred during the Period.**<br>

---

| | |
|:---|:---|
| **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** | **WHAT WERE THE FUND COSTS FOR THE PERIOD? <br>(based on a hypothetical $10,000 investment)** |
| **COST OF $10,000 INVESTMENT** | **COST PAID AS A PERCENTAGE OF $10,000 INVESTMENT** |
| $39 | 0.40% |

---

**PERFORMANCE OF A HYPOTHETICAL $10,000 INVESTMENT**<br>

![8](ck0001592900-20250630_g14.jpg)

---

| | | |
|:---|:---|:---|
| **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** | **AVERAGE ANNUAL TOTAL RETURNS** |
| | **One Year** | **Since Inception (10/5/2022)** |
| Strive U.S. Semiconductor ETF - NAV | 5.36% | 32.30% |
| Bloomberg US Listed Semiconductors Select Index /Solactive United States Semiconductors 30 Capped Index | 5.86% | 32.92% |
| Bloomberg US 1000 Index | 15.45% | 21.24% |
| **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective March 21, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Listed Semiconductors Select Index. Prior to March 21, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Semiconductors 30 Capped Index. Performance shown for the Bloomberg US Listed Semiconductors Select Index/Solactive United States Semiconductors 30 Capped Index for periods prior to March 21, 2024 is that of the Solactive United States Semiconductors 30 Capped Index and for periods beginning March 21, 2024 is that of the Bloomberg US Listed Semiconductors Select Index. Visit www.strivefunds.com/shoc for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective March 21, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Listed Semiconductors Select Index. Prior to March 21, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Semiconductors 30 Capped Index. Performance shown for the Bloomberg US Listed Semiconductors Select Index/Solactive United States Semiconductors 30 Capped Index for periods prior to March 21, 2024 is that of the Solactive United States Semiconductors 30 Capped Index and for periods beginning March 21, 2024 is that of the Bloomberg US Listed Semiconductors Select Index. Visit www.strivefunds.com/shoc for more recent performance information. | **The Fund's past performance is not a good predictor of how the Fund will perform in the future. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.** Effective March 21, 2024, the Fund's investment strategy changed to track the investment results of the Bloomberg US Listed Semiconductors Select Index. Prior to March 21, 2024, the Fund's investment strategy was to track the investment results of the Solactive United States Semiconductors 30 Capped Index. Performance shown for the Bloomberg US Listed Semiconductors Select Index/Solactive United States Semiconductors 30 Capped Index for periods prior to March 21, 2024 is that of the Solactive United States Semiconductors 30 Capped Index and for periods beginning March 21, 2024 is that of the Bloomberg US Listed Semiconductors Select Index. Visit www.strivefunds.com/shoc for more recent performance information. |

---

Annual Shareholder Report: June 30, 2025

------

---

| | | |
|:---|:---|:---|
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Semiconductor ETF<br>Ticker: SHOC<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/shoc |
| ![White Strive_300 Jpeg600.jpg](ck0001592900-20250630_g1.jpg) | Fund Name: Strive U.S. Semiconductor ETF<br>Ticker: SHOC<br>Listed on: New York Stock Exchange | June 30, 2025<br>Annual Shareholder Report<br>https://www.strivefunds.com/shoc |

---

**WHAT FACTORS INFLUENCED PERFORMANCE FOR THE PERIOD?**

The U.S. listed semiconductor industry saw positive returns over the period. Several leading chipmakers specializing in high-performance hardware designed for artificial intelligence ("AI") contributed positively during the reporting period. A U.S. dominant manufacturer of graphics processing units optimized for AI workloads benefited amid unprecedented demand. Semiconductors and semiconductor equipment companies were the most significant detractors, partly due to government restrictions on sales to the large Chinese market. Government policy has shifted in favor of selling U.S. semiconductor technology to China since the end of the reporting period on 6/30. While demand for AI chips surged, U.S. semiconductor companies exposed to PCs, smartphones, industrial, and automotive sectors faced significant headwinds amid trade uncertainly and weakened demand. A semiconductor materials and equipment company in the Netherlands declined as delayed orders from major clients and lingering overcapacity in the semiconductor industry weakened demand for its advanced lithography systems that are essential components in chip manufacturing.

---

| | | | |
|:---|:---|:---|:---|
| **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** | **KEY FUND STATISTICS (as of Period End)** |
| **Net Assets** | $102954458 | **Portfolio Turnover Rate\*** | 25% |
| **# of Portfolio Holdings** | 31 | **Advisory Fees Paid** | $286595 |
| \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. | \*Portfolio turnover is not annualized and is calculated without regard to short-term securities having a maturity of less than one year. Excludes impact of in-kind transactions. |

---

---

| | |
|:---|:---|
| **INDUSTRY WEIGHTING<br>(as a % of Net Assets)** | **INDUSTRY WEIGHTING<br>(as a % of Net Assets)** |
| Semiconductors | 72.9% |
| Semiconductor Materials & Equipment | 18.4% |
| Application Software | 5.5% |
| Electronic Manufacturing Services | 1.7% |
| Electronic Equipment & Instruments | 1.0% |
| Specialty Chemicals | 0.3% |
| Money Market Funds | 0.2% |

---

---

| | |
|:---|:---|
| **TOP 10 HOLDINGS<br>(as a % of Net Assets)** | **TOP 10 HOLDINGS<br>(as a % of Net Assets)** |
| NVIDIA Corp. | 23.3% |
| Broadcom, Inc. | 18.1% |
| Advanced Micro Devices Inc | 4.9% |
| ASML Holding NV | 4.7% |
| Micron Technology Inc | 4.7% |
| Applied Materials Inc | 4.4% |
| Texas Instruments Inc | 4.3% |
| Lam Research Corp | 4.2% |
| KLA CORP | 4.0% |
| Analog Devices Inc | 4.0% |

---

**Material Fund Changes**

This is a summary of certain changes to the Fund since August 1, 2024. Effective February 1, 2025, the Fund's fiscal year end changed from July 31 to June 30. For more complete information, you may review the Fund's next prospectus, which we expect to be available by October 31, 2025 at www.strivefunds.com/shoc or by calling (215) 330-4476.

**Availability of Additional Information**

For additional information about the Fund, including its prospectus, financial information, holdings, and proxy information, visit https://www.strivefunds.com/shoc. You can also request information by calling (215) 330-4476.

**Householding**

Householding is an option available to certain investors of the Fund. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Householding for the Fund is available through certain broker-dealers. If you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents or you are currently enrolled in householding and wish to change your householding status, please contact your broker-dealer.

Annual Shareholder Report: June 30, 2025

------

(b) Not applicable.

**<u>Item 2. Code of Ethics</u>.**

The registrant has adopted a code of ethics that applies to the registrant's principal executive officer and principal financial officer. The registrant has not made any amendments to its code of ethics during the year covered by this report. The registrant has not granted any waivers from any provisions of the code of ethics during the year covered by this report.

A copy of the registrant's Code of Ethics is incorporated by reference.

**<u>Item 3. Audit Committee Financial Expert</u>.**

The registrant's Board of Trustees of the Trust has determined that there is at least one audit committee financial expert serving on its audit committee. Dr. Michael Pagano is an "audit committee financial expert" and is considered to be "independent" as each term is defined in Item 3 of Form N-CSR.

**<u>Item 4. Principal Accountant Fees and Services.</u>**

The registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past fiscal year. "Audit services" refer to performing an audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years. "Audit-related services" refer to the assurance and related services by the principal accountant that are reasonably related to the performance of the audit. "Tax services" refer to professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning, including review of the registrant's tax returns and calculations of required income, capital gain and excise distributions. There were no "Other services" provided by the principal accountant. The following table details the aggregate fees billed or expected to be billed for the last fiscal year for audit fees, audit-related fees, tax fees and other fees by the principal accountant.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **STXD** | **STXD** | **STXG** | **STXG** | **STXV** | **STXV** | **STRV** | **STRV** |
| | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 |
| (a) Audit Fees | $8750 | $8750 | $8750 | $7250 | $8750 | $8750 | $8750 | $8750 |
| (b) Audit-Related Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (c)Tax Fees | $2250 | $2250 | $2250 | $1750 | $2250 | $2250 | $2250 | $2250 |
| (d) All Other Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **STXE** | **STXE** | **BUXX** | **BUXX** | **STXI** | **STXI** | **STXM** | **STXM** |
| | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 |
| (a) Audit Fees | $8750 | $8750 | $8750 | $7250 | $8750 | $7250 | $8750 | $7250 |
| (b) Audit-Related Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (c)Tax Fees | $2250 | $2250 | $2250 | $1750 | $2250 | $1750 | $2250 | $1750 |
| (d) All Other Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **FTWO** | **FTWO** | **STXK** | **STXK** | **STXT** | **STXT** | **DRLL** | **DRLL** | **SHOC** | **SHOC** |
| | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 | FYE<br>6/30/2025 | FYE<br>7/31/2024 |
| (a) Audit Fees | $8750 | $7250 | $8750 | $7250 | $8750 | $7250 | $8750 | $8750 | $8750 | $8750 |
| (b) Audit-Related Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| (c)Tax Fees | $2250 | $1750 | $2250 | $1750 | $2250 | $1750 | $2250 | $2250 | $2250 | $2250 |
| (d) All Other Fees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |

---

(e)(1) The audit committee has adopted pre-approval policies and procedures that require the audit committee to pre-approve all audit and non-audit services of the registrant, including services provided to any entity affiliated with the registrant.

(e)(2) None of the fees billed by any Fund's principal accountant were applicable to non-audit services pursuant to a waiver of the pre-approval requirement.

(f) All of the principal accountant's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal accountant.

(g) None of the fees billed by any Fund's principal accountant were applicable to non-audit services billed or expected to be billed to any Fund's investment adviser.

(h) The audit committee of the board of trustees/directors has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser is compatible with maintaining the principal accountant's independence and has concluded that the provision of such non-audit services by the accountant has not compromised the accountant's independence.

(i) The registrant has not been identified by the U.S. Securities and Exchange Commission as having filed an annual report issued by a registered public accounting firm branch or office that is located in a foreign jurisdiction where the Public Company Accounting Oversight Board is unable to inspect or completely investigate because of a position taken by an authority in that jurisdiction..

(j) The registrant is not a foreign issuer.

**<u>Item 5. Audit Committee of Listed Registrants</u>.**

(a) The registrant is an issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934, (the "Act") and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Act. The independent members of the committee are as follows: Daniel Dorn, Chukwuemeka (Emeka) Oguh, and Michael Pagano.

(b) Not applicable.

------

**<u>Item 6. Investments</u>**

(a) The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 0.0%**<sup>(a)</sup> | |  |
| **Publishing - 0.0%**<sup>(a)</sup> |  |  |
| New York Times Co. - Class A  | 483 | $27038 |
| **<u>Consumer Discretionary</u> - 6.6%** |  |  |
| **Broadline Retail - 0.2%** |  |  |
| eBay, Inc.  | 1478 | 110052 |
| **Casinos & Gaming - 0.0%**<sup>(a)</sup> |  |  |
| Churchill Downs, Inc.  | 200 | 20200 |
| **Consumer Electronics - 0.2%** |  |  |
| Garmin Ltd.  | 479 | 99977 |
| **Distributors - 0.1%** |  |  |
| Pool Corp.  | 126 | 36727 |
| **Footwear - 0.5%** |  |  |
| NIKE, Inc. - Class B  | 3583 | 254536 |
| **Home Improvement Retail - 2.9%** |  |  |
| Home Depot, Inc.  | 3069 | 1125218 |
| Lowe's Cos., Inc.  | 1745 | 387163 |
|  |  | 1512381 |
| **Homefurnishing Retail - 0.1%** |  |  |
| Williams-Sonoma, Inc.  | 378 | 61754 |
| **Other Specialty Retail - 0.2%** |  |  |
| Dick's Sporting Goods, Inc.  | 168 | 33232 |
| Tractor Supply Co.  | 1648 | 86965 |
|  |  | 120197 |
| **Restaurants - 2.3%** |  |  |
| Domino's Pizza, Inc.  | 113 | 50918 |
| McDonald's Corp.  | 2216 | 647449 |
| Starbucks Corp.  | 3436 | 314841 |
| Wingstop, Inc.  | 94 | 31653 |
| Yum! Brands, Inc.  | 877 | 129954 |
|  |  | 1174815 |
| **Specialized Consumer Services - 0.1%** |  |  |
| Service Corp. International  | 438 | 35653 |
| **Total Consumer Discretionary** |  | 3426292 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Consumer Staples</u> - 7.1%** | |  |
| **Consumer Staples Merchandise Retail - 2.6%** |  |  |
| Costco Wholesale Corp.  | 1377 | $1363147 |
| **Distillers & Vintners - 0.2%** |  |  |
| Brown-Forman Corp. - Class A  | 132 | 3626 |
| Brown-Forman Corp. - Class B  | 901 | 24246 |
| Constellation Brands, Inc. - Class A  | 481 | 78249 |
|  |  | 106121 |
| **Food Retail - 0.1%** |  |  |
| Casey's General Stores, Inc.  | 124 | 63274 |
| **Household Products - 2.2%** |  |  |
| Procter & Gamble Co.  | 7237 | 1152999 |
| **Packaged Foods & Meats - 0.9%** |  |  |
| Hershey Co.  | 452 | 75009 |
| Lamb Weston Holdings, Inc.  | 421 | 21829 |
| Marzetti Co.  | 54 | 9330 |
| McCormick & Co., Inc.  | 777 | 58912 |
| Mondelez International, Inc. - Class A  | 4120 | 277853 |
|  |  | 442933 |
| **Soft Drinks & Non-alcoholic Beverages - 1.1%** |  |  |
| PepsiCo, Inc.  | 4230 | 558529 |
| **Total Consumer Staples** |  | 3687003 |
| **<u>Energy</u> - 0.1%** |  |  |
| **Oil & Gas Exploration & Production - 0.1%** |  |  |
| Texas Pacific Land Corp.  | 60 | 63383 |
| **<u>Financials</u> - 25.2%**<sup>(b)</sup> |  |  |
| **Asset Management & Custody Banks - 2.4%** |  |  |
| Ameriprise Financial, Inc.  | 303 | 161720 |
| Ares Management Corp. - Class A  | 599 | 103747 |
| Bank of New York Mellon Corp.  | 2227 | 202902 |
| Blackrock, Inc.  | 447 | 469015 |
| Hamilton Lane, Inc. - Class A  | 119 | 16912 |
| KKR & Co., Inc.  | 2082 | 276969 |
| SEI Investments Co.  | 369 | 33158 |
|  |  | 1264423 |
| **Diversified Banks - 6.9%** |  |  |
| Bank of America Corp.  | 21259 | 1005976 |
| First Citizens BancShares, Inc. - Class A  | 32 | 62607 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Diversified Banks - 6.9% (Continued)** | | |
| JPMorgan Chase & Co.  | 8655 | $2509171 |
|  |  | 3577754 |
| **Financial Exchanges & Data - 3.5%** |  |  |
| Cboe Global Markets, Inc.  | 326 | 76026 |
| CME Group, Inc.  | 1111 | 306214 |
| FactSet Research Systems, Inc.  | 125 | 55910 |
| Intercontinental Exchange, Inc.  | 1764 | 323641 |
| MarketAxess Holdings, Inc.  | 108 | 24121 |
| Moody's Corp.  | 473 | 237252 |
| Morningstar, Inc.  | 78 | 24486 |
| MSCI, Inc.  | 228 | 131497 |
| Nasdaq, Inc.  | 1471 | 131537 |
| S&P Global, Inc.  | 982 | 517799 |
|  |  | 1828483 |
| **Insurance Brokers - 1.9%** |  |  |
| Aon PLC - Class A  | 647 | 230824 |
| Arthur J Gallagher & Co.  | 778 | 249053 |
| Brown & Brown, Inc.  | 733 | 81268 |
| Marsh & McLennan Cos., Inc.  | 1515 | 331240 |
| Willis Towers Watson PLC  | 321 | 98386 |
|  |  | 990771 |
| **Investment Banking & Brokerage - 2.7%** |  |  |
| Evercore, Inc. - Class A  | 122 | 32942 |
| Goldman Sachs Group, Inc.  | 956 | 676609 |
| Houlihan Lokey, Inc.  | 161 | 28972 |
| Jefferies Financial Group, Inc.  | 456 | 24939 |
| Morgan Stanley  | 3773 | 531465 |
| Raymond James Financial, Inc.  | 569 | 87268 |
| Stifel Financial Corp.  | 303 | 31445 |
|  |  | 1413640 |
| **Life & Health Insurance - 0.4%** |  |  |
| Aflac, Inc.  | 1704 | 179704 |
| Primerica, Inc.  | 105 | 28735 |
|  |  | 208439 |
| **Property & Casualty Insurance - 0.7%** |  |  |
| Allstate Corp.  | 815 | 164068 |
| Cincinnati Financial Corp.  | 479 | 71333 |
| Erie Indemnity Co. - Class A  | 70 | 24275 |
| Kinsale Capital Group, Inc.  | 61 | 29518 |
| W R Berkley Corp.  | 869 | 63845 |
|  |  | 353039 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 0.2%** |  |  |
| Commerce Bancshares, Inc.  | 360 | $22381 |
| Cullen/Frost Bankers, Inc.  | 184 | 23651 |
| East West Bancorp, Inc.  | 427 | 43118 |
| First Financial Bankshares, Inc.  | 376 | 13529 |
| Wintrust Financial Corp.  | 203 | 25168 |
|  |  | 127847 |
| **Transaction & Payment Processing Services - 6.5%** |  |  |
| Jack Henry & Associates, Inc.  | 222 | 39998 |
| Mastercard, Inc. - Class A  | 2518 | 1414965 |
| Visa, Inc. - Class A  | 5372 | 1907328 |
|  |  | 3362291 |
| **Total Financials** |  | 13126687 |
| **<u>Health Care</u> - 14.7%** |  |  |
| **Biotechnology - 2.8%** |  |  |
| AbbVie, Inc.  | 5454 | 1012372 |
| Amgen, Inc.  | 1657 | 462651 |
|  |  | 1475023 |
| **Health Care Equipment - 2.6%** |  |  |
| Abbott Laboratories  | 5266 | 716229 |
| ResMed, Inc.  | 450 | 116100 |
| STERIS PLC  | 310 | 74468 |
| Stryker Corp.  | 1066 | 421741 |
|  |  | 1328538 |
| **Health Care Facilities - 0.1%** |  |  |
| Ensign Group, Inc.  | 174 | 26841 |
| **Health Care Services - 0.0%**<sup>(a)</sup> |  |  |
| Chemed Corp.  | 47 | 22886 |
| **Life Sciences Tools & Services - 2.0%** |  |  |
| Agilent Technologies, Inc.  | 900 | 106209 |
| Danaher Corp.  | 2033 | 401599 |
| Thermo Fisher Scientific, Inc.  | 1167 | 473172 |
| West Pharmaceutical Services, Inc.  | 236 | 51636 |
|  |  | 1032616 |
| **Managed Health Care - 1.7%** |  |  |
| UnitedHealth Group, Inc.  | 2837 | 885059 |
| **Pharmaceuticals - 5.5%** |  |  |
| Eli Lilly & Co.  | 2646 | 2062636 |
| Merck & Co., Inc.  | 7784 | 616181 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Pharmaceuticals - 5.5% (Continued)** | | |
| Zoetis, Inc.  | 1276 | $198992 |
|  |  | 2877809 |
| **Total Health Care** |  | 7648772 |
| **<u>Industrials</u> - 14.0%** |  |  |
| **Aerospace & Defense - 3.2%** |  |  |
| BWX Technologies, Inc.  | 265 | 38176 |
| General Dynamics Corp.  | 748 | 218162 |
| HEICO Corp.  | 130 | 42640 |
| HEICO Corp. - Class A  | 232 | 60030 |
| L3Harris Technologies, Inc.  | 584 | 146491 |
| Lockheed Martin Corp.  | 730 | 338092 |
| Northrop Grumman Corp.  | 453 | 226491 |
| RTX Corp.  | 4109 | 599996 |
|  |  | 1670078 |
| **Agricultural & Farm Machinery - 0.0%**<sup>(a)</sup> |  |  |
| Toro Co.  | 321 | 22688 |
| **Air Freight & Logistics - 0.1%** |  |  |
| Expeditors International of Washington, Inc.  | 428 | 48899 |
| **Building Products - 1.2%** |  |  |
| A O Smith Corp.  | 368 | 24130 |
| Advanced Drainage Systems, Inc.  | 234 | 26877 |
| Allegion PLC  | 270 | 38912 |
| Armstrong World Industries, Inc.  | 161 | 26153 |
| Carlisle Cos., Inc.  | 142 | 53023 |
| Lennox International, Inc.  | 91 | 52165 |
| Masco Corp.  | 686 | 44151 |
| Owens Corning  | 251 | 34517 |
| Trane Technologies PLC  | 695 | 304000 |
|  |  | 603928 |
| **Cargo Ground Transportation - 0.3%** |  |  |
| JB Hunt Transport Services, Inc.  | 235 | 33746 |
| Knight-Swift Transportation Holdings, Inc.  | 485 | 21452 |
| Landstar System, Inc.  | 100 | 13902 |
| Old Dominion Freight Line, Inc.  | 574 | 93160 |
|  |  | 162260 |
| **Construction & Engineering - 0.4%** |  |  |
| Comfort Systems USA, Inc.  | 111 | 59520 |
| Quanta Services, Inc.  | 441 | 166733 |
|  |  | 226253 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Construction Machinery & Heavy Transportation Equipment - 1.4%** |  |  |
| Allison Transmission Holdings, Inc.  | 269 | $25552 |
| Caterpillar, Inc.  | 1492 | 579210 |
| Cummins, Inc.  | 440 | 144100 |
|  |  | 748862 |
| **Data Processing & Outsourced Services - 0.3%** |  |  |
| Broadridge Financial Solutions, Inc.  | 360 | 87491 |
| Genpact Ltd.  | 509 | 22401 |
| SS&C Technologies Holdings, Inc.  | 664 | 54979 |
|  |  | 164871 |
| **Electrical Components & Equipment - 1.2%** |  |  |
| AMETEK, Inc.  | 714 | 129205 |
| Eaton Corp. PLC  | 1218 | 434814 |
| Hubbell, Inc.  | 165 | 67388 |
|  |  | 631407 |
| **Environmental & Facilities Services - 0.9%** |  |  |
| Republic Services, Inc.  | 628 | 154871 |
| Tetra Tech, Inc.  | 820 | 29487 |
| Waste Management, Inc.  | 1238 | 283279 |
|  |  | 467637 |
| **Human Resource & Employment Services - 1.0%** |  |  |
| Automatic Data Processing, Inc.  | 1254 | 386733 |
| Paychex, Inc.  | 1008 | 146624 |
| Robert Half, Inc.  | 322 | 13218 |
|  |  | 546575 |
| **Industrial Machinery & Supplies & Components - 1.6%** |  |  |
| Graco, Inc.  | 512 | 44017 |
| IDEX Corp.  | 218 | 38274 |
| Illinois Tool Works, Inc.  | 872 | 215602 |
| ITT, Inc.  | 249 | 39051 |
| Lincoln Electric Holdings, Inc.  | 174 | 36074 |
| Parker-Hannifin Corp.  | 398 | 277991 |
| Snap-on, Inc.  | 161 | 50100 |
| Watts Water Technologies, Inc. - Class A  | 67 | 16474 |
| Xylem, Inc.  | 752 | 97279 |
|  |  | 814862 |
| **Rail Transportation - 1.2%** |  |  |
| CSX Corp.  | 5946 | 194018 |
| Union Pacific Corp.  | 1841 | 423577 |
|  |  | 617595 |
| **Research & Consulting Services - 0.5%** |  |  |
| Amentum Holdings, Inc. <sup>(c)</sup> | 1 | 13 |
| Booz Allen Hamilton Holding Corp.  | 382 | 39778 |
| Jacobs Solutions, Inc.  | 375 | 49294 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Research & Consulting Services - 0.5% (Continued)** | | |
| KBR, Inc.  | 409 | $19607 |
| Verisk Analytics, Inc.  | 438 | 136437 |
|  |  | 245129 |
| **Trading Companies & Distributors - 0.7%** |  |  |
| Fastenal Co.  | 3590 | 150780 |
| Watsco, Inc.  | 114 | 50344 |
| WW Grainger, Inc.  | 132 | 137312 |
|  |  | 338436 |
| **Total Industrials** |  | 7309480 |
| **<u>Information Technology</u> - 25.4%**<sup>(b)</sup> |  |  |
| **Application Software - 1.6%** |  |  |
| Intuit, Inc.  | 845 | 665548 |
| Roper Technologies, Inc.  | 324 | 183656 |
|  |  | 849204 |
| **Communications Equipment - 0.4%** |  |  |
| Motorola Solutions, Inc.  | 516 | 216957 |
| **Electronic Components - 0.7%** |  |  |
| Amphenol Corp. - Class A  | 3705 | 365869 |
| Littelfuse, Inc.  | 61 | 13830 |
|  |  | 379699 |
| **Electronic Equipment & Instruments - 0.0%**<sup>(a)</sup> |  |  |
| Cognex Corp.  | 492 | 15606 |
| **Electronic Manufacturing Services - 0.3%** |  |  |
| TE Connectivity PLC  | 950 | 160237 |
| **IT Consulting & Other Services - 1.4%** |  |  |
| Accenture PLC - Class A  | 1934 | 578053 |
| Amdocs Ltd.  | 338 | 30839 |
| Cognizant Technology Solutions Corp. - Class A  | 1526 | 119074 |
|  |  | 727966 |
| **Semiconductor Materials & Equipment - 2.4%** |  |  |
| Applied Materials, Inc.  | 2503 | 458224 |
| KLA Corp.  | 415 | 371732 |
| Lam Research Corp.  | 3964 | 385856 |
|  |  | 1215812 |
| **Semiconductors - 10.2%** |  |  |
| Analog Devices, Inc.  | 1527 | 363457 |
| Broadcom, Inc.  | 12960 | 3572424 |
| Microchip Technology, Inc.  | 1642 | 115547 |
| Monolithic Power Systems, Inc.  | 149 | 108976 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Semiconductors - 10.2% (Continued)** | | |
| Qualcomm, Inc.  | 3413 | $543554 |
| Texas Instruments, Inc.  | 2816 | 584658 |
| Universal Display Corp.  | 176 | 27185 |
|  |  | 5315801 |
| **Systems Software - 8.2%** |  |  |
| Dolby Laboratories, Inc. - Class A  | 166 | 12327 |
| Microsoft Corp.  | 6319 | 3143134 |
| Oracle Corp.  | 5082 | 1111078 |
|  |  | 4266539 |
| **Technology Distributors - 0.2%** |  |  |
| CDW Corp.  | 410 | 73222 |
| **Total Information Technology** |  | 13221043 |
| **<u>Materials</u> - 3.0%** |  |  |
| **Construction Materials - 0.4%** |  |  |
| Martin Marietta Materials, Inc.  | 189 | 103753 |
| Vulcan Materials Co.  | 407 | 106154 |
|  |  | 209907 |
| **Gold - 0.1%** |  |  |
| Royal Gold, Inc.  | 201 | 35746 |
| **Industrial Gases - 1.7%** |  |  |
| Air Products and Chemicals, Inc.  | 686 | 193493 |
| Linde PLC  | 1471 | 690164 |
|  |  | 883657 |
| **Paper & Plastic Packaging Products & Materials - 0.1%** |  |  |
| Avery Dennison Corp.  | 241 | 42288 |
| **Specialty Chemicals - 0.7%** |  |  |
| PPG Industries, Inc.  | 715 | 81331 |
| RPM International, Inc.  | 381 | 41849 |
| Sherwin-Williams Co.  | 719 | 246876 |
|  |  | 370056 |
| **Total Materials** |  | 1541654 |
| **<u>Utilities</u> - 1.6%** |  |  |
| **Electric Utilities - 0.9%** |  |  |
| NextEra Energy, Inc.  | 6347 | 440609 |
| **Gas Utilities - 0.1%** |  |  |
| Atmos Energy Corp.  | 479 | 73819 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.7% (CONTINUED)** | **Shares** | **Value**  |
| **Independent Power Producers & Energy Traders - 0.4%** |  |  |
| Vistra Corp.  | 1046 | $202725 |
| **Water Utilities - 0.2%** |  |  |
| American Water Works Co., Inc.  | 618 | 85970 |
| Essential Utilities, Inc.  | 786 | 29192 |
|  |  | 115162 |
| **Total Utilities** |  | 832315 |
| **TOTAL COMMON STOCKS** (Cost $41,559,252) |  | 50883667 |
| **REAL ESTATE INVESTMENT TRUSTS - 2.2%** |  |  |
| **<u>Real Estate</u> - 2.2%** |  |  |
| **Data Center REITs - 0.4%** |  |  |
| Equinix, Inc.  | 301 | 239437 |
| **Industrial REITs - 0.7%** |  |  |
| EastGroup Properties, Inc.  | 138 | 23063 |
| First Industrial Realty Trust, Inc.  | 365 | 17567 |
| Prologis, Inc.  | 2854 | 300012 |
| Rexford Industrial Realty, Inc.  | 652 | 23192 |
|  |  | 363834 |
| **Multi-Family Residential REITs - 0.1%** |  |  |
| Mid-America Apartment Communities, Inc.  | 359 | 53136 |
| **Retail REITs - 0.0%**<sup>(a)</sup> |  |  |
| Agree Realty Corp.  | 285 | 20822 |
| **Self-Storage REITs - 0.1%** |  |  |
| CubeSmart  | 697 | 29622 |
| National Storage Affiliates Trust  | 218 | 6974 |
|  |  | 36596 |
| **Single-Family Residential REITs - 0.1%** |  |  |
| Equity LifeStyle Properties, Inc.  | 509 | 31390 |
| **Telecom Tower REITs - 0.8%** |  |  |
| American Tower Corp.  | 1442 | 318711 |
| SBA Communications Corp.  | 330 | 77497 |
|  |  | 396208 |
| **Total Real Estate** |  | 1141423 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,149,265) |  | 1141423 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 DIVIDEND GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS - 0.1%** | **Shares** | **Value** |
| **Money Market Funds - 0.1%** | |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(d)</sup> | 51215 | $51215 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $51,215) |  | 51215 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $42,759,732**)** |  | $52076305 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(a)</sup> |  | 5604 |
| **TOTAL NET ASSETS - 100.0%** |  | $52081909 |

---

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Represents less than 0.05% of net assets.

(b) 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.

(c) Non-income producing security.

(d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 11.3%** | |  |
| **Advertising - 0.1%** |  |  |
| DoubleVerify Holdings, Inc. <sup>(a)</sup> | 315 | $4715 |
| Trade Desk, Inc. - Class A <sup>(a)</sup> | 1328 | 95603 |
|  |  | 100318 |
| **Alternative Carriers - 0.0%**<sup>(b)</sup> |  |  |
| Iridium Communications, Inc.  | 321 | 9685 |
| **Cable & Satellite - 0.0%**<sup>(b)</sup> |  |  |
| Liberty Broadband Corp. - Class A <sup>(a)</sup> | 29 | 2837 |
| Liberty Broadband Corp. - Class C <sup>(a)</sup> | 335 | 32957 |
|  |  | 35794 |
| **Interactive Home Entertainment - 0.4%** |  |  |
| Electronic Arts, Inc.  | 837 | 133669 |
| Roblox Corp. - Class A <sup>(a)</sup> | 1820 | 191464 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup> | 577 | 140124 |
|  |  | 465257 |
| **Interactive Media & Services - 8.5%** |  |  |
| Alphabet, Inc. - Class A  | 18144 | 3197517 |
| Alphabet, Inc. - Class C  | 14639 | 2596812 |
| Match Group, Inc.  | 346 | 10688 |
| Meta Platforms, Inc. - Class A  | 6824 | 5036726 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 1779 | 63795 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 345 | 51947 |
| Snap, Inc. - Class A <sup>(a)</sup> | 3201 | 27817 |
| ZoomInfo Technologies, Inc. <sup>(a)</sup> | 1133 | 11466 |
|  |  | 10996768 |
| **Movies & Entertainment - 2.2%** |  |  |
| Liberty Media Corp.-Liberty Formula One - Class A <sup>(a)</sup> | 42 | 3988 |
| Liberty Media Corp.-Liberty Formula One - Class C <sup>(a)</sup> | 611 | 63850 |
| Live Nation Entertainment, Inc. <sup>(a)</sup> | 576 | 87137 |
| Madison Square Garden Sports Corp. <sup>(a)</sup> | 71 | 14835 |
| Netflix, Inc. <sup>(a)</sup> | 1336 | 1789078 |
| Roku, Inc. <sup>(a)</sup> | 320 | 28125 |
| Spotify Technology SA <sup>(a)</sup> | 404 | 310005 |
| TKO Group Holdings, Inc.  | 169 | 30750 |
| Walt Disney Co.  | 3719 | 461193 |
| Warner Music Group Corp. - Class A  | 352 | 9589 |
|  |  | 2798550 |
| **Publishing - 0.0%**<sup>(b)</sup> |  |  |
| New York Times Co. - Class A  | 401 | 22448 |
| News Corp. - Class A  | 352 | 10461 |
| News Corp. - Class B  | 68 | 2333 |
|  |  | 35242 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Wireless Telecommunication Services - 0.1%** |  |  |
| T-Mobile US, Inc.  | 722 | $172024 |
| **Total Communication Services** |  | 14613638 |
| **<u>Consumer Discretionary</u> - 12.2%** |  |  |
| **Apparel Retail - 0.5%** |  |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 121 | 10025 |
| Burlington Stores, Inc. <sup>(a)</sup> | 160 | 37222 |
| Ross Stores, Inc.  | 993 | 126687 |
| TJX Cos., Inc.  | 3545 | 437772 |
|  |  | 611706 |
| **Apparel, Accessories & Luxury Goods - 0.1%** |  |  |
| Columbia Sportswear Co.  | 22 | 1344 |
| Lululemon Athletica, Inc. <sup>(a)</sup> | 342 | 81252 |
| Ralph Lauren Corp.  | 81 | 22217 |
| Tapestry, Inc.  | 237 | 20811 |
| VF Corp.  | 4 | 47 |
|  |  | 125671 |
| **Automobile Manufacturers - 2.2%** |  |  |
| Lucid Group, Inc. <sup>(a)</sup> | 2673 | 5640 |
| Rivian Automotive, Inc. - Class A <sup>(a)</sup> | 2647 | 36370 |
| Tesla, Inc. <sup>(a)</sup> | 8806 | 2797314 |
|  |  | 2839324 |
| **Automotive Parts & Equipment - 0.0%**<sup>(b)</sup> |  |  |
| Gentex Corp.  | 383 | 8422 |
| **Automotive Retail - 0.5%** |  |  |
| AutoZone, Inc. <sup>(a)</sup> | 54 | 200460 |
| CarMax, Inc. <sup>(a)</sup> | 84 | 5646 |
| Carvana Co. <sup>(a)</sup> | 397 | 133773 |
| Murphy USA, Inc.  | 35 | 14238 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | 2715 | 244703 |
| Valvoline, Inc. <sup>(a)</sup> | 319 | 12081 |
|  |  | 610901 |
| **Broadline Retail - 5.1%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 29960 | 6572924 |
| eBay, Inc.  | 854 | 63589 |
| Etsy, Inc. <sup>(a)</sup> | 336 | 16854 |
|  |  | 6653367 |
| **Casinos & Gaming - 0.2%** |  |  |
| Boyd Gaming Corp.  | 27 | 2112 |
| Caesars Entertainment, Inc. <sup>(a)</sup> | 630 | 17886 |
| Churchill Downs, Inc.  | 151 | 15251 |
| DraftKings, Inc. - Class A <sup>(a)</sup> | 1578 | 67681 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Casinos & Gaming - 0.2% (Continued)** | | |
| Las Vegas Sands Corp.  | 1063 | $46251 |
| Light & Wonder, Inc. <sup>(a)</sup> | 283 | 27242 |
| MGM Resorts International <sup>(a)</sup> | 383 | 13171 |
| Wynn Resorts Ltd.  | 90 | 8430 |
|  |  | 198024 |
| **Computer & Electronics Retail - 0.0%**<sup>(b)</sup> |  |  |
| GameStop Corp. - Class A <sup>(a)</sup> | 1340 | 32683 |
| **Consumer Discretionary - 0.0%**<sup>(b)</sup> |  |  |
| Viking Holdings Ltd. <sup>(a)</sup> | 350 | 16253 |
| **Consumer Electronics - 0.1%** |  |  |
| Garmin Ltd.  | 475 | 99142 |
| **Distributors - 0.0%**<sup>(b)</sup> |  |  |
| Pool Corp.  | 107 | 31188 |
| **Education Services - 0.1%** |  |  |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 159 | 19651 |
| Duolingo, Inc. <sup>(a)</sup> | 99 | 40592 |
|  |  | 60243 |
| **Footwear - 0.2%** |  |  |
| Crocs, Inc. <sup>(a)</sup> | 125 | 12660 |
| Deckers Outdoor Corp. <sup>(a)</sup> | 564 | 58132 |
| NIKE, Inc. - Class B  | 1712 | 121620 |
| On Holding AG - Class A <sup>(a)</sup> | 616 | 32063 |
| Skechers USA, Inc. - Class A <sup>(a)</sup> | 138 | 8708 |
|  |  | 233183 |
| **Home Furnishings - 0.0%**<sup>(b)</sup> |  |  |
| Somnigroup International, Inc.  | 420 | 28581 |
| **Home Improvement Retail - 0.6%** |  |  |
| Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 302 | 22940 |
| Home Depot, Inc.  | 1921 | 704316 |
| Lowe's Cos., Inc.  | 398 | 88304 |
|  |  | 815560 |
| **Homebuilding - 0.1%** |  |  |
| Installed Building Products, Inc.  | 57 | 10278 |
| NVR, Inc. <sup>(a)</sup> | 7 | 51700 |
| TopBuild Corp. <sup>(a)</sup> | 89 | 28813 |
|  |  | 90791 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Homefurnishing Retail - 0.1%** |  |  |
| RH <sup>(a)</sup> | 13 | $2457 |
| Wayfair, Inc. - Class A <sup>(a)</sup> | 214 | 10944 |
| Williams-Sonoma, Inc.  | 312 | 50972 |
|  |  | 64373 |
| **Hotels, Resorts & Cruise Lines - 1.2%** |  |  |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 1204 | 159337 |
| Booking Holdings, Inc.  | 104 | 602081 |
| Carnival Corp. <sup>(a)</sup> | 3126 | 87903 |
| Choice Hotels International, Inc.  | 51 | 6471 |
| Expedia Group, Inc.  | 344 | 58026 |
| Hilton Worldwide Holdings, Inc.  | 721 | 192031 |
| Hyatt Hotels Corp. - Class A  | 123 | 17177 |
| Marriott International, Inc. - Class A  | 702 | 191793 |
| Norwegian Cruise Line Holdings Ltd. <sup>(a)</sup> | 585 | 11864 |
| Royal Caribbean Cruises Ltd.  | 711 | 222643 |
| Wyndham Hotels & Resorts, Inc.  | 64 | 5197 |
|  |  | 1554523 |
| **Household Appliances - 0.0%**<sup>(b)</sup> |  |  |
| SharkNinja, Inc. <sup>(a)</sup> | 149 | 14749 |
| **Leisure Facilities - 0.0%**<sup>(b)</sup> |  |  |
| Planet Fitness, Inc. - Class A <sup>(a)</sup> | 319 | 34787 |
| Vail Resorts, Inc.  | 50 | 7856 |
|  |  | 42643 |
| **Leisure Products - 0.0%**<sup>(b)</sup> |  |  |
| YETI Holdings, Inc. <sup>(a)</sup> | 154 | 4854 |
| **Other Specialty Retail - 0.1%** |  |  |
| Chewy, Inc. - Class A <sup>(a)</sup> | 299 | 12744 |
| Dick's Sporting Goods, Inc.  | 77 | 15231 |
| Five Below, Inc. <sup>(a)</sup> | 149 | 19546 |
| Tractor Supply Co.  | 1655 | 87334 |
| Ulta Beauty, Inc. <sup>(a)</sup> | 116 | 54267 |
|  |  | 189122 |
| **Restaurants - 1.1%** |  |  |
| Aramark  | 202 | 8458 |
| Cava Group, Inc. <sup>(a)</sup> | 168 | 14151 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup> | 4285 | 240603 |
| Darden Restaurants, Inc.  | 244 | 53185 |
| Domino's Pizza, Inc.  | 70 | 31542 |
| DoorDash, Inc. - Class A <sup>(a)</sup> | 1169 | 288170 |
| Dutch Bros, Inc. - Class A <sup>(a)</sup> | 411 | 28100 |
| McDonald's Corp.  | 1359 | 397059 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Restaurants - 1.1% (Continued)** | | |
| Starbucks Corp.  | 2497 | $228800 |
| Texas Roadhouse, Inc.  | 174 | 32609 |
| Wingstop, Inc.  | 67 | 22561 |
| Yum! Brands, Inc.  | 627 | 92909 |
|  |  | 1438147 |
| **Specialized Consumer Services - 0.0%**<sup>(b)</sup> |  |  |
| Service Corp. International  | 290 | 23606 |
| **Total Consumer Discretionary** |  | 15787056 |
| **<u>Consumer Staples</u> - 3.8%** |  |  |
| **Consumer Staples Merchandise Retail - 1.9%** |  |  |
| BJ's Wholesale Club Holdings, Inc. <sup>(a)</sup> | 318 | 34290 |
| Costco Wholesale Corp.  | 1382 | 1368097 |
| Walmart, Inc.  | 10730 | 1049179 |
|  |  | 2451566 |
| **Distillers & Vintners - 0.0%**<sup>(b)</sup> |  |  |
| Brown-Forman Corp. - Class A  | 76 | 2088 |
| Brown-Forman Corp. - Class B  | 714 | 19214 |
| Constellation Brands, Inc. - Class A  | 142 | 23100 |
|  |  | 44402 |
| **Food Distributors - 0.1%** |  |  |
| Performance Food Group Co. <sup>(a)</sup> | 363 | 31751 |
| Sysco Corp.  | 320 | 24237 |
| US Foods Holding Corp. <sup>(a)</sup> | 772 | 59452 |
|  |  | 115440 |
| **Food Retail - 0.1%** |  |  |
| Casey's General Stores, Inc.  | 101 | 51537 |
| Maplebear, Inc. <sup>(a)</sup> | 348 | 15743 |
| Sprouts Farmers Market, Inc. <sup>(a)</sup> | 290 | 47746 |
|  |  | 115026 |
| **Household Products - 0.7%** |  |  |
| Church & Dwight Co., Inc.  | 594 | 57090 |
| Clorox Co.  | 133 | 15969 |
| Colgate-Palmolive Co.  | 1742 | 158348 |
| Kimberly-Clark Corp.  | 11 | 1418 |
| Procter & Gamble Co.  | 4197 | 668666 |
|  |  | 901491 |
| **Packaged Foods & Meats - 0.1%** |  |  |
| Hershey Co.  | 107 | 17757 |
| Kellanova  | 194 | 15429 |
| Lamb Weston Holdings, Inc.  | 373 | 19340 |
| Marzetti Co.  | 24 | 4146 |
| McCormick & Co., Inc.  | 317 | 24035 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Packaged Foods & Meats - 0.1% (Continued)** | | |
| Mondelez International, Inc. - Class A  | 909 | $61303 |
| Pilgrim's Pride Corp.  | 1 | 45 |
| Post Holdings, Inc. <sup>(a)</sup> | 8 | 872 |
|  |  | 142927 |
| **Personal Care Products - 0.1%** |  |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 356 | 20623 |
| Coty, Inc. - Class A <sup>(a)</sup> | 1189 | 5529 |
| elf Beauty, Inc. <sup>(a)</sup> | 143 | 17795 |
| Estee Lauder Cos., Inc. - Class A  | 303 | 24482 |
| Kenvue, Inc.  | 2344 | 49060 |
|  |  | 117489 |
| **Soft Drinks & Non-alcoholic Beverages - 0.7%** |  |  |
| Celsius Holdings, Inc. <sup>(a)</sup> | 593 | 27509 |
| Coca-Cola Co.  | 6828 | 483081 |
| Coca-Cola Consolidated, Inc.  | 90 | 10049 |
| Keurig Dr Pepper, Inc.  | 504 | 16662 |
| Monster Beverage Corp. <sup>(a)</sup> | 2153 | 134864 |
| PepsiCo, Inc.  | 1501 | 198192 |
| Primo Brands Corp.  | 176 | 5213 |
|  |  | 875570 |
| **Tobacco - 0.1%** |  |  |
| Philip Morris International, Inc.  | 581 | 105818 |
| **Total Consumer Staples** |  | 4869729 |
| **<u>Energy</u> - 0.5%** |  |  |
| **Oil & Gas Equipment & Services - 0.0%**<sup>(b)</sup> |  |  |
| ChampionX Corp.  | 390 | 9688 |
| Weatherford International PLC  | 174 | 8754 |
|  |  | 18442 |
| **Oil & Gas Exploration & Production - 0.2%** |  |  |
| Antero Resources Corp. <sup>(a)</sup> | 87 | 3505 |
| EQT Corp.  | 903 | 52663 |
| Hess Corp.  | 908 | 125794 |
| Texas Pacific Land Corp.  | 56 | 59158 |
| Venture Global, Inc. - Class A  | 104 | 1620 |
| Viper Energy, Inc.  | 107 | 4080 |
|  |  | 246820 |
| **Oil & Gas Storage & Transportation - 0.3%** |  |  |
| Cheniere Energy, Inc.  | 461 | 112263 |
| DT Midstream, Inc.  | 124 | 13629 |
| New Fortress Energy, Inc.  | 285 | 946 |
| ONEOK, Inc.  | 466 | 38039 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Oil & Gas Storage & Transportation - 0.3% (Continued)** | | |
| Targa Resources Corp.  | 689 | $119941 |
| Williams Cos., Inc.  | 1722 | 108159 |
|  |  | 392977 |
| **Total Energy** |  | 658239 |
| **<u>Financials</u> - 10.7%** |  |  |
| **Asset Management & Custody Banks - 1.0%** |  |  |
| Ameriprise Financial, Inc.  | 228 | 121691 |
| Ares Management Corp. - Class A  | 572 | 99070 |
| Bank of New York Mellon Corp.  | 913 | 83183 |
| Blackrock, Inc.  | 298 | 312677 |
| Blackstone, Inc.  | 2256 | 337453 |
| Blue Owl Capital, Inc. - Class A  | 1567 | 30102 |
| Carlyle Group, Inc.  | 1 | 51 |
| Hamilton Lane, Inc. - Class A  | 66 | 9380 |
| KKR & Co., Inc.  | 2105 | 280028 |
| SEI Investments Co.  | 126 | 11322 |
| TPG, Inc.  | 68 | 3567 |
|  |  | 1288524 |
| **Commercial & Residential Mortgage Finance - 0.0%**<sup>(b)</sup> |  |  |
| Rocket Cos., Inc. - Class A  | 344 | 4878 |
| UWM Holdings Corp.  | 94 | 389 |
|  |  | 5267 |
| **Consumer Finance - 0.5%** |  |  |
| American Express Co.  | 1579 | 503669 |
| Credit Acceptance Corp. <sup>(a)</sup> | 5 | 2547 |
| SoFi Technologies, Inc. <sup>(a)</sup> | 2956 | 53829 |
|  |  | 560045 |
| **Diversified Banks - 1.0%** |  |  |
| Bank of America Corp.  | 1833 | 86738 |
| First Citizens BancShares, Inc. - Class A  | 30 | 58694 |
| JPMorgan Chase & Co.  | 3317 | 961631 |
| Wells Fargo & Co.  | 2480 | 198698 |
|  |  | 1305761 |
| **Diversified Financial Services - 0.1%** |  |  |
| Apollo Global Management, Inc.  | 1183 | 167832 |
| **Financial Exchanges & Data - 1.4%** |  |  |
| Cboe Global Markets, Inc.  | 311 | 72528 |
| CME Group, Inc.  | 327 | 90128 |
| Coinbase Global, Inc. - Class A <sup>(a)</sup> | 642 | 225015 |
| FactSet Research Systems, Inc.  | 94 | 42044 |
| Intercontinental Exchange, Inc.  | 1413 | 259243 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Financial Exchanges & Data - 1.4% (Continued)** | | |
| MarketAxess Holdings, Inc.  | 66 | $14740 |
| Moody's Corp.  | 486 | 243773 |
| Morningstar, Inc.  | 74 | 23231 |
| MSCI, Inc.  | 232 | 133804 |
| Nasdaq, Inc.  | 1279 | 114368 |
| S&P Global, Inc.  | 958 | 505144 |
| Tradeweb Markets, Inc. - Class A  | 327 | 47873 |
|  |  | 1771891 |
| **Insurance Brokers - 0.8%** |  |  |
| Aon PLC - Class A  | 651 | 232251 |
| Arthur J Gallagher & Co.  | 778 | 249053 |
| Brown & Brown, Inc.  | 864 | 95792 |
| Marsh & McLennan Cos., Inc.  | 1435 | 313748 |
| Ryan Specialty Holdings, Inc.  | 297 | 20193 |
| Willis Towers Watson PLC  | 223 | 68350 |
|  |  | 979387 |
| **Investment Banking & Brokerage - 0.9%** |  |  |
| Charles Schwab Corp.  | 1882 | 171714 |
| Evercore, Inc. - Class A  | 114 | 30782 |
| Goldman Sachs Group, Inc.  | 386 | 273191 |
| Houlihan Lokey, Inc.  | 147 | 26453 |
| Interactive Brokers Group, Inc. - Class A  | 696 | 38565 |
| Jefferies Financial Group, Inc.  | 42 | 2297 |
| LPL Financial Holdings, Inc.  | 229 | 85868 |
| Morgan Stanley  | 1601 | 225517 |
| Raymond James Financial, Inc.  | 521 | 79906 |
| Robinhood Markets, Inc. - Class A <sup>(a)</sup> | 2300 | 215349 |
| Stifel Financial Corp.  | 49 | 5085 |
|  |  | 1154727 |
| **Life & Health Insurance - 0.0%**<sup>(b)</sup> |  |  |
| Aflac, Inc.  | 40 | 4218 |
| Primerica, Inc.  | 25 | 6842 |
|  |  | 11060 |
| **Multi-Sector Holdings - 1.2%** |  |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 3268 | 1587496 |
| **Property & Casualty Insurance - 0.5%** |  |  |
| Allstate Corp.  | 397 | 79920 |
| Cincinnati Financial Corp.  | 62 | 9233 |
| Erie Indemnity Co. - Class A  | 75 | 26009 |
| Kinsale Capital Group, Inc.  | 60 | 29034 |
| Progressive Corp.  | 1827 | 487553 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Property & Casualty Insurance - 0.5% (Continued)** | | |
| RLI Corp.  | 146 | $10544 |
| W R Berkley Corp.  | 103 | 7568 |
|  |  | 649861 |
| **Regional Banks - 0.0%**<sup>(b)</sup> |  |  |
| Commerce Bancshares, Inc.  | 74 | 4601 |
| Cullen/Frost Bankers, Inc.  | 23 | 2956 |
| East West Bancorp, Inc.  | 34 | 3433 |
| First Financial Bankshares, Inc.  | 135 | 4857 |
| Pinnacle Financial Partners, Inc.  | 21 | 2319 |
| SouthState Corp.  | 24 | 2209 |
| Western Alliance Bancorp  | 54 | 4211 |
| Wintrust Financial Corp.  | 38 | 4711 |
|  |  | 29297 |
| **Transaction & Payment Processing Services - 3.3%** |  |  |
| Affirm Holdings, Inc. <sup>(a)</sup> | 628 | 43420 |
| Block, Inc. <sup>(a)</sup> | 1722 | 116975 |
| Corpay, Inc. <sup>(a)</sup> | 237 | 78641 |
| Euronet Worldwide, Inc. <sup>(a)</sup> | 28 | 2839 |
| Fidelity National Information Services, Inc.  | 767 | 62442 |
| Fiserv, Inc. <sup>(a)</sup> | 1806 | 311372 |
| Global Payments, Inc.  | 107 | 8564 |
| Jack Henry & Associates, Inc.  | 294 | 52970 |
| Mastercard, Inc. - Class A  | 2557 | 1436881 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 2645 | 196576 |
| Shift4 Payments, Inc. - Class A <sup>(a)</sup> | 200 | 19822 |
| Toast, Inc. - Class A <sup>(a)</sup> | 1233 | 54610 |
| Visa, Inc. - Class A  | 5397 | 1916205 |
| WEX, Inc. <sup>(a)</sup> | 76 | 11164 |
|  |  | 4312481 |
| **Total Financials** |  | 13823629 |
| **<u>Health Care</u> - 7.4%** |  |  |
| **Biotechnology - 1.4%** |  |  |
| AbbVie, Inc.  | 2758 | 511940 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup> | 391 | 127501 |
| Amgen, Inc.  | 708 | 197681 |
| Apellis Pharmaceuticals, Inc. <sup>(a)</sup> | 303 | 5245 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 581 | 31938 |
| CRISPR Therapeutics AG <sup>(a)</sup> | 90 | 4378 |
| Cytokinetics, Inc. <sup>(a)</sup> | 338 | 11168 |
| Exact Sciences Corp. <sup>(a)</sup> | 567 | 30130 |
| Exelixis, Inc. <sup>(a)</sup> | 912 | 40196 |
| Gilead Sciences, Inc.  | 602 | 66744 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Biotechnology - 1.4% (Continued)** | | |
| Halozyme Therapeutics, Inc. <sup>(a)</sup> | 357 | $18571 |
| Incyte Corp. <sup>(a)</sup> | 579 | 39430 |
| Insmed, Inc. <sup>(a)</sup> | 452 | 45489 |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup> | 356 | 14066 |
| Moderna, Inc. <sup>(a)</sup> | 493 | 13602 |
| Natera, Inc. <sup>(a)</sup> | 326 | 55074 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 296 | 37204 |
| Regeneron Pharmaceuticals, Inc.  | 296 | 155400 |
| Roivant Sciences Ltd. <sup>(a)</sup> | 1413 | 15924 |
| Sarepta Therapeutics, Inc. <sup>(a)</sup> | 283 | 4839 |
| Summit Therapeutics, Inc. <sup>(a)</sup> | 164 | 3490 |
| Vaxcyte, Inc. <sup>(a)</sup> | 319 | 10371 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | 785 | 349482 |
|  |  | 1789863 |
| **Health Care Distributors - 0.0%**<sup>(b)</sup> |  |  |
| Henry Schein, Inc. <sup>(a)</sup> | 75 | 5479 |
| **Health Care Equipment - 2.3%** |  |  |
| Abbott Laboratories  | 3629 | 493580 |
| Becton Dickinson & Co.  | 314 | 54086 |
| Boston Scientific Corp. <sup>(a)</sup> | 4632 | 497523 |
| Dexcom, Inc. <sup>(a)</sup> | 1180 | 103002 |
| Edwards Lifesciences Corp. <sup>(a)</sup> | 2011 | 157280 |
| GE HealthCare Technologies, Inc.  | 924 | 68441 |
| Glaukos Corp. <sup>(a)</sup> | 157 | 16217 |
| Globus Medical, Inc. - Class A <sup>(a)</sup> | 309 | 18237 |
| Hologic, Inc. <sup>(a)</sup> | 394 | 25673 |
| IDEXX Laboratories, Inc. <sup>(a)</sup> | 274 | 146957 |
| Inspire Medical Systems, Inc. <sup>(a)</sup> | 52 | 6748 |
| Insulet Corp. <sup>(a)</sup> | 224 | 70376 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 1131 | 614597 |
| Masimo Corp. <sup>(a)</sup> | 140 | 23551 |
| Penumbra, Inc. <sup>(a)</sup> | 105 | 26946 |
| ResMed, Inc.  | 413 | 106554 |
| STERIS PLC  | 298 | 71586 |
| Stryker Corp.  | 1077 | 426094 |
| Teleflex, Inc.  | 46 | 5445 |
| Zimmer Biomet Holdings, Inc.  | 63 | 5746 |
|  |  | 2938639 |
| **Health Care Facilities - 0.1%** |  |  |
| Encompass Health Corp.  | 191 | 23422 |
| Ensign Group, Inc.  | 135 | 20825 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Health Care Facilities - 0.1% (Continued)** | | |
| HCA Healthcare, Inc.  | 88 | $33713 |
|  |  | 77960 |
| **Health Care Services - 0.0%**<sup>(b)</sup> |  |  |
| Chemed Corp.  | 41 | 19964 |
| DaVita, Inc. <sup>(a)</sup> | 97 | 13818 |
| Labcorp Holdings, Inc.  | 4 | 1050 |
| Option Care Health, Inc. <sup>(a)</sup> | 437 | 14194 |
|  |  | 49026 |
| **Health Care Supplies - 0.1%** |  |  |
| Align Technology, Inc. <sup>(a)</sup> | 232 | 43925 |
| Cooper Cos., Inc. <sup>(a)</sup> | 688 | 48958 |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 164 | 13425 |
| Solventum Corp. <sup>(a)</sup> | 173 | 13120 |
|  |  | 119428 |
| **Health Care Technology - 0.0%**<sup>(b)</sup> |  |  |
| Doximity, Inc. - Class A <sup>(a)</sup> | 294 | 18034 |
| **Life Sciences Tools & Services - 0.9%** |  |  |
| Agilent Technologies, Inc.  | 869 | 102551 |
| Avantor, Inc. <sup>(a)</sup> | 1012 | 13622 |
| Bio-Rad Laboratories, Inc. - Class A <sup>(a)</sup> | 22 | 5309 |
| Bio-Techne Corp.  | 403 | 20734 |
| Bruker Corp.  | 284 | 11701 |
| Charles River Laboratories International, Inc. <sup>(a)</sup> | 127 | 19270 |
| Danaher Corp.  | 1313 | 259370 |
| ICON PLC <sup>(a)</sup> | 218 | 31708 |
| Illumina, Inc. <sup>(a)</sup> | 381 | 36351 |
| IQVIA Holdings, Inc. <sup>(a)</sup> | 565 | 89038 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 65 | 20401 |
| Mettler-Toledo International, Inc. <sup>(a)</sup> | 70 | 82230 |
| Repligen Corp. <sup>(a)</sup> | 144 | 17911 |
| Revvity, Inc.  | 118 | 11413 |
| Sotera Health Co. <sup>(a)</sup> | 298 | 3314 |
| Thermo Fisher Scientific, Inc.  | 987 | 400189 |
| Waters Corp. <sup>(a)</sup> | 160 | 55846 |
| West Pharmaceutical Services, Inc.  | 193 | 42228 |
|  |  | 1223186 |
| **Managed Health Care - 0.5%** |  |  |
| HealthEquity, Inc. <sup>(a)</sup> | 303 | 31742 |
| Molina Healthcare, Inc. <sup>(a)</sup> | 101 | 30088 |
| UnitedHealth Group, Inc.  | 1841 | 574337 |
|  |  | 636167 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Pharmaceuticals - 2.1%** |  |  |
| Eli Lilly & Co.  | 2651 | $2066534 |
| Merck & Co., Inc.  | 5994 | 474485 |
| Zoetis, Inc.  | 1280 | 199616 |
|  |  | 2740635 |
| **Total Health Care** |  | 9598417 |
| **<u>Industrials</u> - 9.5%** |  |  |
| **Aerospace & Defense - 2.2%** |  |  |
| ATI, Inc. <sup>(a)</sup> | 360 | 31082 |
| Axon Enterprise, Inc. <sup>(a)</sup> | 228 | 188770 |
| Boeing Co. <sup>(a)</sup> | 2156 | 451747 |
| BWX Technologies, Inc.  | 318 | 45811 |
| Curtiss-Wright Corp.  | 110 | 53740 |
| General Dynamics Corp.  | 265 | 77290 |
| General Electric Co.  | 3264 | 840121 |
| HEICO Corp.  | 97 | 31816 |
| HEICO Corp. - Class A  | 286 | 74002 |
| Hexcel Corp.  | 83 | 4689 |
| Howmet Aerospace, Inc.  | 1230 | 228940 |
| L3Harris Technologies, Inc.  | 213 | 53429 |
| Leonardo DRS, Inc.  | 220 | 10226 |
| Lockheed Martin Corp.  | 104 | 48166 |
| Northrop Grumman Corp.  | 212 | 105996 |
| Rocket Lab Corp. <sup>(a)</sup> | 1036 | 37058 |
| RTX Corp.  | 1918 | 280066 |
| StandardAero, Inc. <sup>(a)</sup> | 171 | 5412 |
| Textron, Inc.  | 103 | 8270 |
| TransDigm Group, Inc.  | 137 | 208328 |
| Woodward, Inc.  | 151 | 37009 |
|  |  | 2821968 |
| **Agricultural & Farm Machinery - 0.2%** |  |  |
| Deere & Co.  | 453 | 230346 |
| Toro Co.  | 283 | 20002 |
|  |  | 250348 |
| **Air Freight & Logistics - 0.0%**<sup>(b)</sup> |  |  |
| CH Robinson Worldwide, Inc.  | 125 | 11994 |
| Expeditors International of Washington, Inc.  | 285 | 32561 |
| GXO Logistics, Inc. <sup>(a)</sup> | 126 | 6136 |
|  |  | 50691 |
| **Building Products - 0.7%** |  |  |
| A O Smith Corp.  | 312 | 20458 |
| AAON, Inc.  | 199 | 14676 |
| Advanced Drainage Systems, Inc.  | 175 | 20100 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Building Products - 0.7% (Continued)** | | |
| Allegion PLC  | 161 | $23203 |
| Armstrong World Industries, Inc.  | 56 | 9097 |
| Builders FirstSource, Inc. <sup>(a)</sup> | 157 | 18320 |
| Carlisle Cos., Inc.  | 157 | 58624 |
| Carrier Global Corp.  | 2169 | 158749 |
| Johnson Controls International PLC  | 1088 | 114915 |
| Lennox International, Inc.  | 93 | 53311 |
| Masco Corp.  | 294 | 18922 |
| Owens Corning  | 26 | 3576 |
| Simpson Manufacturing Co., Inc.  | 76 | 11804 |
| Trane Technologies PLC  | 691 | 302250 |
| Trex Co., Inc. <sup>(a)</sup> | 316 | 17184 |
|  |  | 845189 |
| **Cargo Ground Transportation - 0.2%** |  |  |
| JB Hunt Transport Services, Inc.  | 119 | 17089 |
| Knight-Swift Transportation Holdings, Inc.  | 393 | 17382 |
| Landstar System, Inc.  | 53 | 7368 |
| Old Dominion Freight Line, Inc.  | 600 | 97380 |
| Saia, Inc. <sup>(a)</sup> | 64 | 17535 |
| U-Haul Holding Co.  | 27 | 1468 |
| U-Haul Holding Co. <sup>(a)</sup> | 2 | 121 |
| XPO, Inc. <sup>(a)</sup> | 351 | 44328 |
|  |  | 202671 |
| **Construction & Engineering - 0.3%** |  |  |
| AECOM  | 302 | 34084 |
| API Group Corp. <sup>(a)</sup> | 609 | 31089 |
| Comfort Systems USA, Inc.  | 120 | 64345 |
| Emcor Group, Inc.  | 127 | 67931 |
| Everus Construction Group, Inc. <sup>(a)</sup> | 111 | 7052 |
| MasTec, Inc. <sup>(a)</sup> | 51 | 8692 |
| Quanta Services, Inc.  | 474 | 179210 |
| Valmont Industries, Inc.  | 22 | 7185 |
| WillScot Holdings Corp.  | 580 | 15892 |
|  |  | 415480 |
| **Construction Machinery & Heavy Transportation Equipment - 0.5%** |  |  |
| Allison Transmission Holdings, Inc.  | 37 | 3515 |
| Caterpillar, Inc.  | 1162 | 451100 |
| Cummins, Inc.  | 319 | 104472 |
| PACCAR, Inc.  | 6 | 570 |
| Westinghouse Air Brake Technologies Corp.  | 520 | 108862 |
|  |  | 668519 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Data Processing & Outsourced Services - 0.1%** |  |  |
| Broadridge Financial Solutions, Inc.  | 332 | $80686 |
| Genpact Ltd.  | 33 | 1452 |
| SS&C Technologies Holdings, Inc.  | 308 | 25503 |
|  |  | 107641 |
| **Diversified Support Services - 0.3%** |  |  |
| Cintas Corp.  | 1054 | 234905 |
| Copart, Inc. <sup>(a)</sup> | 2690 | 131998 |
|  |  | 366903 |
| **Electrical Components & Equipment - 0.9%** |  |  |
| Acuity, Inc.  | 83 | 24762 |
| AMETEK, Inc.  | 689 | 124681 |
| Eaton Corp. PLC  | 1219 | 435171 |
| Emerson Electric Co.  | 1226 | 163463 |
| Generac Holdings, Inc. <sup>(a)</sup> | 106 | 15180 |
| Hubbell, Inc.  | 189 | 77189 |
| NEXTracker, Inc. - Class A <sup>(a)</sup> | 15 | 816 |
| nVent Electric PLC  | 650 | 47613 |
| Regal Rexnord Corp.  | 31 | 4494 |
| Rockwell Automation, Inc.  | 350 | 116259 |
| Vertiv Holdings Co. - Class A  | 1130 | 145103 |
|  |  | 1154731 |
| **Environmental & Facilities Services - 0.5%** |  |  |
| Clean Harbors, Inc. <sup>(a)</sup> | 130 | 30054 |
| Republic Services, Inc.  | 648 | 159803 |
| Rollins, Inc.  | 895 | 50496 |
| Tetra Tech, Inc.  | 733 | 26359 |
| Veralto Corp.  | 701 | 70766 |
| Waste Management, Inc.  | 1237 | 283050 |
|  |  | 620528 |
| **Heavy Electrical Equipment - 0.4%** |  |  |
| GE Vernova, Inc.  | 865 | 457715 |
| **Human Resource & Employment Services - 0.5%** |  |  |
| Automatic Data Processing, Inc.  | 1248 | 384884 |
| Dayforce, Inc. <sup>(a)</sup> | 390 | 21602 |
| Paychex, Inc.  | 870 | 126550 |
| Paycom Software, Inc.  | 185 | 42809 |
| Paylocity Holding Corp. <sup>(a)</sup> | 143 | 25910 |
| Robert Half, Inc.  | 76 | 3120 |
| TriNet Group, Inc.  | 51 | 3730 |
|  |  | 608605 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Industrial Conglomerates - 0.2%** |  |  |
| 3M Co.  | 220 | $33493 |
| Honeywell International, Inc.  | 1195 | 278291 |
|  |  | 311784 |
| **Industrial Machinery & Supplies & Components - 0.9%** |  |  |
| Chart Industries, Inc. <sup>(a)</sup> | 149 | 24533 |
| Crane Co.  | 147 | 27914 |
| Donaldson Co., Inc.  | 142 | 9848 |
| Dover Corp.  | 288 | 52770 |
| Flowserve Corp.  | 96 | 5026 |
| Fortive Corp.  | 805 | 41965 |
| Gates Industrial Corp. PLC <sup>(a)</sup> | 74 | 1704 |
| Graco, Inc.  | 580 | 49863 |
| IDEX Corp.  | 181 | 31778 |
| Illinois Tool Works, Inc.  | 641 | 158487 |
| Ingersoll Rand, Inc.  | 1216 | 101147 |
| ITT, Inc.  | 175 | 27445 |
| Lincoln Electric Holdings, Inc.  | 152 | 31513 |
| Middleby Corp. <sup>(a)</sup> | 60 | 8640 |
| Mueller Industries, Inc.  | 138 | 10967 |
| Nordson Corp.  | 143 | 30655 |
| Otis Worldwide Corp.  | 938 | 92881 |
| Parker-Hannifin Corp.  | 388 | 271006 |
| Pentair PLC  | 479 | 49174 |
| RBC Bearings, Inc. <sup>(a)</sup> | 79 | 30399 |
| Snap-on, Inc.  | 29 | 9024 |
| Symbotic, Inc. <sup>(a)</sup> | 51 | 1981 |
| Watts Water Technologies, Inc. - Class A  | 48 | 11803 |
| Xylem, Inc.  | 665 | 86024 |
|  |  | 1166547 |
| **Office Services & Supplies - 0.0%**<sup>(b)</sup> |  |  |
| MSA Safety, Inc.  | 53 | 8879 |
| **Passenger Airlines - 0.0%**<sup>(b)</sup> |  |  |
| Alaska Air Group, Inc. <sup>(a)</sup> | 64 | 3167 |
| Delta Air Lines, Inc.  | 132 | 6492 |
| Southwest Airlines Co.  | 461 | 14955 |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 39 | 3105 |
|  |  | 27719 |
| **Passenger Ground Transportation - 0.5%** |  |  |
| Grab Holdings Ltd. - Class A <sup>(a)</sup> | 8589 | 43203 |
| Lyft, Inc. - Class A <sup>(a)</sup> | 956 | 15066 |
| Uber Technologies, Inc. <sup>(a)</sup> | 6547 | 610835 |
|  |  | 669104 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Rail Transportation - 0.3%** |  |  |
| CSX Corp.  | 3215 | $104905 |
| Norfolk Southern Corp.  | 284 | 72696 |
| Union Pacific Corp.  | 1075 | 247336 |
|  |  | 424937 |
| **Research & Consulting Services - 0.3%** |  |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 188 | 4433 |
| Booz Allen Hamilton Holding Corp.  | 351 | 36550 |
| CACI International, Inc. - Class A <sup>(a)</sup> | 43 | 20498 |
| Clarivate PLC <sup>(a)</sup> | 1174 | 5048 |
| Dun & Bradstreet Holdings, Inc.  | 596 | 5418 |
| Equifax, Inc.  | 375 | 97264 |
| FTI Consulting, Inc. <sup>(a)</sup> | 97 | 15666 |
| Jacobs Solutions, Inc.  | 177 | 23267 |
| KBR, Inc.  | 298 | 14286 |
| Leidos Holdings, Inc.  | 180 | 28397 |
| Parsons Corp. <sup>(a)</sup> | 213 | 15287 |
| Science Applications International Corp.  | 30 | 3378 |
| TransUnion  | 591 | 52008 |
| UL Solutions, Inc.  | 92 | 6703 |
| Verisk Analytics, Inc.  | 407 | 126780 |
|  |  | 454983 |
| **Trading Companies & Distributors - 0.5%** |  |  |
| Applied Industrial Technologies, Inc.  | 118 | 27429 |
| Core & Main, Inc. - Class A <sup>(a)</sup> | 705 | 42547 |
| Fastenal Co.  | 3068 | 128856 |
| Ferguson Enterprises, Inc.  | 425 | 92544 |
| FTAI Aviation Ltd.  | 283 | 32556 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 80 | 9675 |
| United Rentals, Inc.  | 169 | 127325 |
| Watsco, Inc.  | 85 | 37538 |
| WW Grainger, Inc.  | 144 | 149794 |
|  |  | 648264 |
| **Total Industrials** |  | 12283206 |
| **<u>Information Technology</u> - 40.7%**<sup>(c)</sup> |  |  |
| **Application Software - 4.5%** |  |  |
| Adobe, Inc. <sup>(a)</sup> | 1375 | 531960 |
| ANSYS, Inc. <sup>(a)</sup> | 296 | 103961 |
| Appfolio, Inc. - Class A <sup>(a)</sup> | 34 | 7830 |
| AppLovin Corp. - Class A <sup>(a)</sup> | 776 | 271662 |
| Atlassian Corp. - Class A <sup>(a)</sup> | 454 | 92203 |
| Aurora Innovation, Inc. <sup>(a)</sup> | 2989 | 15662 |
| Autodesk, Inc. <sup>(a)</sup> | 648 | 200601 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Application Software - 4.5% (Continued)** | | |
| Bentley Systems, Inc. - Class B  | 647 | $34919 |
| BILL Holdings, Inc. <sup>(a)</sup> | 308 | 14248 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | 852 | 262544 |
| CCC Intelligent Solutions Holdings, Inc. <sup>(a)</sup> | 870 | 8187 |
| Circle Internet Group, Inc. <sup>(a)</sup> | 53 | 9608 |
| Confluent, Inc. - Class A <sup>(a)</sup> | 585 | 14584 |
| Datadog, Inc. - Class A <sup>(a)</sup> | 973 | 130703 |
| Docusign, Inc. <sup>(a)</sup> | 607 | 47279 |
| Dropbox, Inc. - Class A <sup>(a)</sup> | 700 | 20020 |
| Dynatrace, Inc. <sup>(a)</sup> | 995 | 54934 |
| Elastic NV <sup>(a)</sup> | 302 | 25468 |
| Fair Isaac Corp. <sup>(a)</sup> | 77 | 140753 |
| Freshworks, Inc. - Class A <sup>(a)</sup> | 587 | 8752 |
| Guidewire Software, Inc. <sup>(a)</sup> | 296 | 69693 |
| HubSpot, Inc. <sup>(a)</sup> | 141 | 78485 |
| Informatica, Inc. - Class A <sup>(a)</sup> | 90 | 2192 |
| Intuit, Inc.  | 849 | 668698 |
| Klaviyo, Inc. - Class A <sup>(a)</sup> | 66 | 2216 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 162 | 31990 |
| MicroStrategy, Inc. - Class A <sup>(a)</sup> | 789 | 318937 |
| Nutanix, Inc. - Class A <sup>(a)</sup> | 679 | 51903 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 6870 | 936518 |
| Pegasystems, Inc.  | 154 | 8336 |
| Procore Technologies, Inc. <sup>(a)</sup> | 144 | 9852 |
| PTC, Inc. <sup>(a)</sup> | 384 | 66179 |
| Roper Technologies, Inc.  | 321 | 181956 |
| Salesforce, Inc.  | 2859 | 779621 |
| Samsara, Inc. - Class A <sup>(a)</sup> | 613 | 24385 |
| SPS Commerce, Inc. <sup>(a)</sup> | 103 | 14017 |
| Synopsys, Inc. <sup>(a)</sup> | 447 | 229168 |
| Tyler Technologies, Inc. <sup>(a)</sup> | 137 | 81219 |
| Unity Software, Inc. <sup>(a)</sup> | 713 | 17255 |
| Vertex, Inc. - Class A <sup>(a)</sup> | 174 | 6148 |
| Workday, Inc. - Class A <sup>(a)</sup> | 643 | 154320 |
| Zoom Communications, Inc. - Class A <sup>(a)</sup> | 592 | 46164 |
|  |  | 5775130 |
| **Communications Equipment - 0.7%** |  |  |
| Arista Networks, Inc. <sup>(a)</sup> | 3118 | 319003 |
| Ciena Corp. <sup>(a)</sup> | 431 | 35053 |
| Cisco Systems, Inc.  | 4075 | 282724 |
| F5, Inc. <sup>(a)</sup> | 105 | 30904 |
| Juniper Networks, Inc.  | 494 | 19725 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Communications Equipment - 0.7% (Continued)** | | |
| Lumentum Holdings, Inc. <sup>(a)</sup> | 70 | $6654 |
| Motorola Solutions, Inc.  | 503 | 211491 |
|  |  | 905554 |
| **Electronic Components - 0.4%** |  |  |
| Amphenol Corp. - Class A  | 3804 | 375645 |
| Coherent Corp. <sup>(a)</sup> | 648 | 57808 |
| Corning, Inc.  | 1258 | 66158 |
| Littelfuse, Inc.  | 40 | 9069 |
|  |  | 508680 |
| **Electronic Equipment & Instrum - 0.0%**<sup>(b)</sup> |  |  |
| Ralliant Corp. <sup>(a)</sup> | 268 | 13011 |
| **Electronic Equipment & Instruments - 0.2%** |  |  |
| Cognex Corp.  | 431 | 13671 |
| Keysight Technologies, Inc. <sup>(a)</sup> | 624 | 102249 |
| Teledyne Technologies, Inc. <sup>(a)</sup> | 106 | 54305 |
| Trimble, Inc. <sup>(a)</sup> | 628 | 47715 |
| Vontier Corp.  | 458 | 16900 |
| Zebra Technologies Corp. - Class A <sup>(a)</sup> | 135 | 41629 |
|  |  | 276469 |
| **Electronic Manufacturing Services - 0.1%** |  |  |
| Flex Ltd. <sup>(a)</sup> | 214 | 10683 |
| Jabil, Inc.  | 166 | 36205 |
| TE Connectivity PLC  | 438 | 73877 |
|  |  | 120765 |
| **Internet Services & Infrastructure - 0.5%** |  |  |
| Akamai Technologies, Inc. <sup>(a)</sup> | 186 | 14835 |
| Cloudflare, Inc. - Class A <sup>(a)</sup> | 863 | 169001 |
| CoreWeave, Inc. - Class A <sup>(a)</sup> | 59 | 9621 |
| GoDaddy, Inc. - Class A <sup>(a)</sup> | 427 | 76886 |
| MongoDB, Inc. <sup>(a)</sup> | 164 | 34438 |
| Okta, Inc. <sup>(a)</sup> | 564 | 56383 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 941 | 210568 |
| Twilio, Inc. - Class A <sup>(a)</sup> | 433 | 53848 |
| VeriSign, Inc.  | 283 | 81730 |
|  |  | 707310 |
| **IT Consulting & Other Services - 0.6%** |  |  |
| Accenture PLC - Class A  | 1760 | 526046 |
| Amdocs Ltd.  | 74 | 6752 |
| Cognizant Technology Solutions Corp. - Class A  | 294 | 22941 |
| EPAM Systems, Inc. <sup>(a)</sup> | 128 | 22633 |
| Gartner, Inc. <sup>(a)</sup> | 237 | 95800 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **IT Consulting & Other Services - 0.6% (Continued)** | | |
| Globant SA <sup>(a)</sup> | 175 | $15897 |
| International Business Machines Corp.  | 366 | 107890 |
| Kyndryl Holdings, Inc. <sup>(a)</sup> | 496 | 20812 |
|  |  | 818771 |
| **Semiconductor Materials & Equipment - 1.0%** |  |  |
| Applied Materials, Inc.  | 2135 | 390854 |
| Enphase Energy, Inc. <sup>(a)</sup> | 466 | 18477 |
| Entegris, Inc.  | 449 | 36212 |
| KLA Corp.  | 407 | 364566 |
| Lam Research Corp.  | 3619 | 352274 |
| MKS, Inc.  | 162 | 16096 |
| Onto Innovation, Inc. <sup>(a)</sup> | 133 | 13424 |
| Teradyne, Inc.  | 428 | 38486 |
|  |  | 1230389 |
| **Semiconductors - 13.9%** |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 4977 | 706236 |
| Analog Devices, Inc.  | 1433 | 341083 |
| Astera Labs, Inc. <sup>(a)</sup> | 374 | 33817 |
| Broadcom, Inc.  | 14417 | 3974046 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 155 | 16160 |
| Credo Technology Group Holding Ltd. <sup>(a)</sup> | 438 | 40554 |
| First Solar, Inc. <sup>(a)</sup> | 304 | 50324 |
| GlobalFoundries, Inc. <sup>(a)</sup> | 150 | 5730 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 367 | 17979 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup> | 185 | 26509 |
| Marvell Technology, Inc.  | 2648 | 204955 |
| Microchip Technology, Inc.  | 1327 | 93381 |
| Monolithic Power Systems, Inc.  | 167 | 122141 |
| NVIDIA Corp.  | 73537 | 11618111 |
| NXP Semiconductors NV  | 518 | 113178 |
| ON Semiconductor Corp. <sup>(a)</sup> | 583 | 30555 |
| Qorvo, Inc. <sup>(a)</sup> | 11 | 934 |
| Qualcomm, Inc.  | 1750 | 278705 |
| Rambus, Inc. <sup>(a)</sup> | 313 | 20038 |
| Silicon Laboratories, Inc. <sup>(a)</sup> | 56 | 8252 |
| Synaptics, Inc. <sup>(a)</sup> | 64 | 4149 |
| Texas Instruments, Inc.  | 1547 | 321188 |
| Universal Display Corp.  | 79 | 12202 |
|  |  | 18040227 |
| **Systems Software - 11.3%** |  |  |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 734 | 373833 |
| CyberArk Software Ltd. <sup>(a)</sup> | 125 | 50860 |
| Dolby Laboratories, Inc. - Class A  | 72 | 5347 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Systems Software - 11.3% (Continued)** | | |
| Fortinet, Inc. <sup>(a)</sup> | 1996 | $211017 |
| Gen Digital, Inc.  | 754 | 22168 |
| Gitlab, Inc. - Class A <sup>(a)</sup> | 294 | 13262 |
| Microsoft Corp.  | 23318 | 11598606 |
| Monday.com Ltd. <sup>(a)</sup> | 92 | 28932 |
| Oracle Corp.  | 5198 | 1136439 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 2089 | 427493 |
| Qualys, Inc. <sup>(a)</sup> | 64 | 9144 |
| Rubrik, Inc. - Class A <sup>(a)</sup> | 255 | 22845 |
| SentinelOne, Inc. - Class A <sup>(a)</sup> | 685 | 12522 |
| ServiceNow, Inc. <sup>(a)</sup> | 645 | 663112 |
| UiPath, Inc. - Class A <sup>(a)</sup> | 1176 | 15053 |
| Zscaler, Inc. <sup>(a)</sup> | 285 | 89473 |
|  |  | 14680106 |
| **Technology Distributors - 0.0%**<sup>(b)</sup> |  |  |
| CDW Corp.  | 159 | 28396 |
| **Technology Hardware, Storage & Peripherals - 7.5%** |  |  |
| Apple, Inc.  | 46207 | 9480290 |
| Dell Technologies, Inc. - Class C  | 166 | 20352 |
| IonQ, Inc. <sup>(a)</sup> | 539 | 23161 |
| NetApp, Inc.  | 397 | 42300 |
| Pure Storage, Inc. - Class A <sup>(a)</sup> | 900 | 51822 |
| Super Micro Computer, Inc. <sup>(a)</sup> | 1530 | 74985 |
|  |  | 9692910 |
| **Total Information Technology** |  | 52797718 |
| **<u>Materials</u> - 1.5%** |  |  |
| **Aluminum - 0.0%**<sup>(b)</sup> |  |  |
| Alcoa Corp.  | 863 | 25467 |
| **Construction Materials - 0.3%** |  |  |
| CRH PLC  | 1219 | 111904 |
| Eagle Materials, Inc.  | 104 | 21020 |
| Martin Marietta Materials, Inc.  | 165 | 90578 |
| Vulcan Materials Co.  | 470 | 122585 |
|  |  | 346087 |
| **Copper - 0.1%** |  |  |
| Freeport-McMoRan, Inc.  | 2188 | 94850 |
| **Fertilizers & Agricultural Chemicals - 0.0%**<sup>(b)</sup> |  |  |
| Corteva, Inc.  | 993 | 74008 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **Gold - 0.0%**<sup>(b)</sup> |  |  |
| Royal Gold, Inc.  | 227 | $40370 |
| **Industrial Gases - 0.6%** |  |  |
| Air Products and Chemicals, Inc.  | 373 | 105208 |
| Linde PLC  | 1320 | 619318 |
|  |  | 724526 |
| **Metal, Glass & Plastic Containers - 0.0%**<sup>(b)</sup> |  |  |
| AptarGroup, Inc.  | 64 | 10011 |
| Ball Corp.  | 399 | 22380 |
|  |  | 32391 |
| **Paper & Plastic Packaging Products & Materials - 0.1%** |  |  |
| Avery Dennison Corp.  | 160 | 28075 |
| Packaging Corp. of America  | 95 | 17903 |
| Smurfit WestRock PLC  | 933 | 40259 |
|  |  | 86237 |
| **Specialty Chemicals - 0.4%** |  |  |
| Albemarle Corp.  | 161 | 10090 |
| Axalta Coating Systems Ltd. <sup>(a)</sup> | 360 | 10689 |
| DuPont de Nemours, Inc.  | 373 | 25584 |
| Ecolab, Inc.  | 775 | 208816 |
| PPG Industries, Inc.  | 131 | 14901 |
| RPM International, Inc.  | 293 | 32183 |
| Sherwin-Williams Co.  | 697 | 239322 |
|  |  | 541585 |
| **Steel - 0.0%**<sup>(b)</sup> |  |  |
| Carpenter Technology Corp.  | 144 | 39799 |
| **Total Materials** |  | 2005320 |
| **<u>Real Estate</u> - 0.2%** |  |  |
| **Real Estate Development - 0.0%**<sup>(b)</sup> |  |  |
| Howard Hughes Holdings, Inc. <sup>(a)</sup> | 48 | 3240 |
| **Real Estate Services - 0.2%** |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 822 | 115179 |
| CoStar Group, Inc. <sup>(a)</sup> | 1216 | 97766 |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 13 | 3325 |
| Zillow Group, Inc. - Class A <sup>(a)</sup> | 68 | 4657 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 395 | 27670 |
|  |  | 248597 |
| **Total Real Estate** |  | 251837 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.4% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Utilities</u> - 0.6%** | |  |
| **Electric Utilities - 0.4%** |  |  |
| Constellation Energy Corp.  | 959 | $309527 |
| NextEra Energy, Inc.  | 2358 | 163692 |
| PPL Corp.  | 241 | 8168 |
| Southern Co.  | 200 | 18366 |
|  |  | 499753 |
| **Gas Utilities - 0.0%**<sup>(b)</sup> |  |  |
| Atmos Energy Corp.  | 1 | 154 |
| **Independent Power Producers & Energy Traders - 0.2%** |  |  |
| Talen Energy Corp. <sup>(a)</sup> | 111 | 32276 |
| Vistra Corp.  | 966 | 187220 |
|  |  | 219496 |
| **Multi-Utilities - 0.0%**<sup>(b)</sup> |  |  |
| Public Service Enterprise Group, Inc.  | 374 | 31483 |
| Sempra  | 287 | 21746 |
|  |  | 53229 |
| **Water Utilities - 0.0%**<sup>(b)</sup> |  |  |
| American Water Works Co., Inc.  | 199 | 27683 |
| Essential Utilities, Inc.  | 302 | 11216 |
|  |  | 38899 |
| **Total Utilities** |  | 811531 |
| **TOTAL COMMON STOCKS** (Cost $96,241,753) |  | 127500320 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.3%** |  |  |
| **<u>Real Estate</u> - 1.3%** |  |  |
| **Data Center REITs - 0.3%** |  |  |
| Digital Realty Trust, Inc.  | 656 | 114360 |
| Equinix, Inc.  | 291 | 231482 |
|  |  | 345842 |
| **Health Care REITs - 0.2%** |  |  |
| Healthpeak Properties, Inc.  | 59 | 1033 |
| Welltower, Inc.  | 1791 | 275330 |
|  |  | 276363 |
| **Hotel & Resort REITs - 0.0%**<sup>(b)</sup> |  |  |
| Host Hotels & Resorts, Inc.  | 109 | 1674 |
| Ryman Hospitality Properties, Inc.  | 62 | 6118 |
|  |  | 7792 |
| **Industrial REITs - 0.2%** |  |  |
| Americold Realty Trust, Inc.  | 25 | 416 |
| EastGroup Properties, Inc.  | 120 | 20054 |
| First Industrial Realty Trust, Inc.  | 324 | 15594 |
| Lineage, Inc.  | 78 | 3394 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 1.3%** | **Shares** | **Value** |
| **Industrial REITs - 0.2% (Continued)** | | |
| Prologis, Inc.  | 1538 | $161675 |
| Rexford Industrial Realty, Inc.  | 154 | 5478 |
| STAG Industrial, Inc.  | 295 | 10703 |
|  |  | 217314 |
| **Multi-Family Residential REITs - 0.1%** |  |  |
| AvalonBay Communities, Inc.  | 220 | 44770 |
| Camden Property Trust  | 301 | 33920 |
| Equity Residential  | 360 | 24296 |
| Essex Property Trust, Inc.  | 86 | 24372 |
| Mid-America Apartment Communities, Inc.  | 161 | 23830 |
| UDR, Inc.  | 370 | 15107 |
|  |  | 166295 |
| **Office REITs - 0.0%**<sup>(b)</sup> |  |  |
| Vornado Realty Trust  | 324 | 12390 |
| **Other Specialized REITs - 0.1%** |  |  |
| Iron Mountain, Inc.  | 896 | 91903 |
| Lamar Advertising Co. - Class A  | 64 | 7767 |
|  |  | 99670 |
| **Retail REITs - 0.0%**<sup>(b)</sup> |  |  |
| Agree Realty Corp.  | 3 | 219 |
| Brixmor Property Group, Inc.  | 56 | 1458 |
| Federal Realty Investment Trust  | 49 | 4655 |
| Kimco Realty Corp.  | 191 | 4015 |
| Regency Centers Corp.  | 88 | 6268 |
| Simon Property Group, Inc.  | 248 | 39868 |
|  |  | 56483 |
| **Self-Storage REITs - 0.1%** |  |  |
| CubeSmart  | 335 | 14238 |
| Extra Space Storage, Inc.  | 199 | 29341 |
| National Storage Affiliates Trust  | 68 | 2175 |
| Public Storage  | 315 | 92427 |
|  |  | 138181 |
| **Single-Family Residential REITs - 0.1%** |  |  |
| American Homes 4 Rent - Class A  | 859 | 30984 |
| Equity LifeStyle Properties, Inc.  | 405 | 24976 |
| Invitation Homes, Inc.  | 1446 | 47429 |
| Sun Communities, Inc.  | 299 | 37821 |
|  |  | 141210 |
| **Telecom Tower REITs - 0.2%** |  |  |
| American Tower Corp.  | 896 | 198034 |
| Crown Castle, Inc.  | 198 | 20340 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 GROWTH ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 1.3%** | **Shares** | **Value** |
| **Telecom Tower REITs - 0.2% (Continued)** | | |
| SBA Communications Corp.  | 315 | $73975 |
|  |  | 292349 |
| **Total Real Estate** |  | 1753889 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,635,283) |  | 1753889 |
| **CONTINGENT VALUE RIGHTS - 0.0%**<sup>(b)</sup> |  |  |
| **Health Care *-* 0.0%**<sup>(b)</sup> |  |  |
| ABIOMED, Inc., Exercise Price $0.00 <sup>(a)(d)</sup> | 4 |  |
| **TOTAL CONTINGENT VALUE RIGHTS** (Cost $0) |  |  |
| **SHORT-TERM INVESTMENTS - 0.3%** |  |  |
| **Money Market Funds - 0.3%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(e)</sup> | 369325 | 369325 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $369,325) |  | 369325 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $98,246,361**)** |  | $129623534 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(b)</sup> |  | 5819 |
| **TOTAL NET ASSETS - 100.0%** |  | $129629353 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) 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.

(d) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of June 30, 2025.

(e) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 5.2%** | |  |
| **Advertising - 0.1%** |  |  |
| DoubleVerify Holdings, Inc. <sup>(a)</sup> | 71 | $1063 |
| Interpublic Group of Cos., Inc.  | 1495 | 36597 |
| Omnicom Group, Inc.  | 802 | 57696 |
|  |  | 95356 |
| **Broadcasting - 0.2%** |  |  |
| Fox Corp. - Class A  | 710 | 39789 |
| Fox Corp. - Class B  | 464 | 23956 |
| Nexstar Media Group, Inc.  | 105 | 18160 |
| Paramount Global - Class A  | 13 | 298 |
| Paramount Global - Class B  | 1911 | 24652 |
|  |  | 106855 |
| **Cable & Satellite - 1.2%** |  |  |
| Charter Communications, Inc. - Class A <sup>(a)</sup> | 387 | 158209 |
| Comcast Corp. - Class A  | 14996 | 535207 |
| Liberty Broadband Corp. - Class A <sup>(a)</sup> | 25 | 2446 |
| Liberty Broadband Corp. - Class C <sup>(a)</sup> | 180 | 17708 |
| Sirius XM Holdings, Inc.  | 940 | 21592 |
|  |  | 735162 |
| **Integrated Telecommunication Services - 2.5%** |  |  |
| AT&T, Inc.  | 29280 | 847363 |
| Frontier Communications Parent, Inc. <sup>(a)</sup> | 900 | 32760 |
| Verizon Communications, Inc.  | 15624 | 676051 |
|  |  | 1556174 |
| **Interactive Home Entertainment - 0.0%**<sup>(b)</sup> |  |  |
| Electronic Arts, Inc.  | 37 | 5909 |
| **Interactive Media & Services - 0.1%** |  |  |
| Angi, Inc. <sup>(a)</sup> | 189 | 2884 |
| IAC, Inc. <sup>(a)</sup> | 347 | 12957 |
| Match Group, Inc.  | 562 | 17360 |
| ZoomInfo Technologies, Inc. <sup>(a)</sup> | 696 | 7044 |
|  |  | 40245 |
| **Movies & Entertainment - 0.7%** |  |  |
| Liberty Media Corp.-Liberty Live - Class A <sup>(a)</sup> | 1 | 80 |
| Liberty Media Corp.-Liberty Live - Class C <sup>(a)</sup> | 161 | 13067 |
| Roku, Inc. <sup>(a)</sup> | 278 | 24433 |
| Walt Disney Co.  | 2517 | 312133 |
| Warner Bros Discovery, Inc. <sup>(a)</sup> | 8967 | 102762 |
|  |  | 452475 |
| **Publishing - 0.1%** |  |  |
| New York Times Co. - Class A  | 35 | 1959 |
| News Corp. - Class A  | 1082 | 32157 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Publishing - 0.1% (Continued)** | | |
| News Corp. - Class B  | 308 | $10568 |
|  |  | 44684 |
| **Wireless Telecommunication Services - 0.3%** |  |  |
| T-Mobile US, Inc.  | 944 | 224917 |
| **Total Communication Services** |  | 3261777 |
| **<u>Consumer Discretionary</u> - 5.8%** |  |  |
| **Apparel Retail - 0.0%**<sup>(b)</sup> |  |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 30 | 2485 |
| Gap, Inc.  | 911 | 19869 |
|  |  | 22354 |
| **Apparel, Accessories & Luxury Goods - 0.2%** |  |  |
| Columbia Sportswear Co.  | 65 | 3970 |
| Levi Strauss & Co. - Class A  | 270 | 4992 |
| PVH Corp.  | 217 | 14886 |
| Ralph Lauren Corp.  | 20 | 5486 |
| Tapestry, Inc.  | 572 | 50228 |
| VF Corp.  | 1556 | 18283 |
|  |  | 97845 |
| **Automobile Manufacturers - 0.8%** |  |  |
| Ford Motor Co.  | 15740 | 170779 |
| General Motors Co.  | 4019 | 197775 |
| Stellantis NV  | 7368 | 73901 |
| Thor Industries, Inc.  | 208 | 18473 |
|  |  | 460928 |
| **Automotive Parts & Equipment - 0.2%** |  |  |
| Aptiv PLC <sup>(a)</sup> | 943 | 64331 |
| BorgWarner, Inc.  | 879 | 29429 |
| Gentex Corp.  | 430 | 9456 |
| Lear Corp.  | 220 | 20896 |
|  |  | 124112 |
| **Automotive Retail - 0.2%** |  |  |
| AutoNation, Inc. <sup>(a)</sup> | 122 | 24235 |
| AutoZone, Inc. <sup>(a)</sup> | 1 | 3712 |
| CarMax, Inc. <sup>(a)</sup> | 520 | 34949 |
| Lithia Motors, Inc.  | 119 | 40201 |
| Murphy USA, Inc.  | 28 | 11390 |
| Penske Automotive Group, Inc.  | 65 | 11168 |
|  |  | 125655 |
| **Broadline Retail - 0.2%** |  |  |
| Dillard's, Inc. - Class A  | 20 | 8356 |
| eBay, Inc.  | 958 | 71333 |
| Etsy, Inc. <sup>(a)</sup> | 212 | 10634 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Broadline Retail - 0.2% (Continued)** | | |
| Macy's, Inc.  | 1085 | $12651 |
|  |  | 102974 |
| **Casinos & Gaming - 0.1%** |  |  |
| Boyd Gaming Corp.  | 233 | 18228 |
| International Game Technology PLC  | 424 | 6703 |
| MGM Resorts International <sup>(a)</sup> | 450 | 15476 |
| Wynn Resorts Ltd.  | 196 | 18359 |
|  |  | 58766 |
| **Computer & Electronics Retail - 0.1%** |  |  |
| Best Buy Co., Inc.  | 800 | 53704 |
| **Consumer Discretionary - 0.0%** |  |  |
| Viking Holdings Ltd. <sup>(a)</sup> | 195 | 10392 |
| **Distributors - 0.2%** |  |  |
| Genuine Parts Co.  | 563 | 68297 |
| LKQ Corp.  | 1056 | 39083 |
| Pool Corp.  | 45 | 13117 |
|  |  | 120497 |
| **Footwear - 0.3%** |  |  |
| Crocs, Inc. <sup>(a)</sup> | 190 | 19243 |
| NIKE, Inc. - Class B  | 2479 | 176108 |
| Skechers USA, Inc. - Class A <sup>(a)</sup> | 197 | 12431 |
|  |  | 207782 |
| **Home Furnishings - 0.1%** |  |  |
| Mohawk Industries, Inc. <sup>(a)</sup> | 213 | 22331 |
| Somnigroup International, Inc.  | 59 | 4015 |
|  |  | 26346 |
| **Home Improvement Retail - 1.6%** |  |  |
| Home Depot, Inc.  | 1565 | 573791 |
| Lowe's Cos., Inc.  | 1763 | 391157 |
|  |  | 964948 |
| **Homebuilding - 0.6%** |  |  |
| DR Horton, Inc.  | 1113 | 143488 |
| Installed Building Products, Inc.  | 18 | 3246 |
| Lennar Corp. - Class A  | 923 | 102093 |
| Lennar Corp. - Class B  | 18 | 1894 |
| NVR, Inc. <sup>(a)</sup> | 2 | 14771 |
| PulteGroup, Inc.  | 823 | 86794 |
| Toll Brothers, Inc.  | 330 | 37663 |
| TopBuild Corp. <sup>(a)</sup> | 18 | 5827 |
|  |  | 395776 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Homefurnishing Retail - 0.0%**<sup>(b)</sup> |  |  |
| Wayfair, Inc. - Class A <sup>(a)</sup> | 92 | $4705 |
| Williams-Sonoma, Inc.  | 73 | 11926 |
|  |  | 16631 |
| **Hotels, Resorts & Cruise Lines - 0.0%**<sup>(b)</sup> |  |  |
| Travel + Leisure Co.  | 243 | 12541 |
| Wyndham Hotels & Resorts, Inc.  | 34 | 2761 |
|  |  | 15302 |
| **Household Appliances - 0.0%**<sup>(b)</sup> |  |  |
| Whirlpool Corp.  | 213 | 21602 |
| **Housewares & Specialties - 0.0%**<sup>(b)</sup> |  |  |
| Newell Brands, Inc.  | 1531 | 8267 |
| **Leisure Facilities - 0.0%**<sup>(b)</sup> |  |  |
| Vail Resorts, Inc.  | 17 | 2671 |
| **Leisure Products - 0.1%** |  |  |
| Brunswick Corp.  | 275 | 15191 |
| Hasbro, Inc.  | 516 | 38091 |
| Mattel, Inc. <sup>(a)</sup> | 1212 | 23901 |
| YETI Holdings, Inc. <sup>(a)</sup> | 25 | 788 |
|  |  | 77971 |
| **Motorcycle Manufacturers - 0.0%**<sup>(b)</sup> |  |  |
| Harley-Davidson, Inc.  | 463 | 10927 |
| **Other Specialty Retail - 0.1%** |  |  |
| Bath & Body Works, Inc.  | 862 | 25826 |
| Dick's Sporting Goods, Inc.  | 167 | 33034 |
| Five Below, Inc. <sup>(a)</sup> | 5 | 656 |
| Tractor Supply Co.  | 384 | 20264 |
| Ulta Beauty, Inc. <sup>(a)</sup> | 5 | 2339 |
|  |  | 82119 |
| **Restaurants - 0.9%** |  |  |
| Aramark  | 203 | 8499 |
| Darden Restaurants, Inc.  | 143 | 31170 |
| Domino's Pizza, Inc.  | 40 | 18024 |
| McDonald's Corp.  | 1132 | 330736 |
| Starbucks Corp.  | 1260 | 115454 |
| Yum! Brands, Inc.  | 338 | 50085 |
|  |  | 553968 |
| **Specialized Consumer Services - 0.1%** |  |  |
| ADT, Inc.  | 1290 | 10926 |
| H&R Block, Inc.  | 550 | 30190 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Specialized Consumer Services - 0.1% (Continued)** | | |
| Service Corp. International  | 290 | $23606 |
|  |  | 64722 |
| **Total Consumer Discretionary** |  | 3626259 |
| **<u>Consumer Staples</u> - 9.5%** |  |  |
| **Agricultural Products & Services - 0.3%** |  |  |
| Archer-Daniels-Midland Co.  | 1982 | 104610 |
| Bunge Global SA  | 531 | 42629 |
| Darling Ingredients, Inc. <sup>(a)</sup> | 663 | 25154 |
| Ingredion, Inc.  | 250 | 33905 |
|  |  | 206298 |
| **Brewers - 0.1%** |  |  |
| Molson Coors Beverage Co. - Class B  | 671 | 32268 |
| **Consumer Staples Merchandise Retail - 1.2%** |  |  |
| BJ's Wholesale Club Holdings, Inc. <sup>(a)</sup> | 313 | 33751 |
| Dollar General Corp.  | 826 | 94478 |
| Dollar Tree, Inc. <sup>(a)</sup> | 820 | 81213 |
| Target Corp.  | 1847 | 182206 |
| Walmart, Inc.  | 3811 | 372640 |
|  |  | 764288 |
| **Distillers & Vintners - 0.2%** |  |  |
| Brown-Forman Corp. - Class A  | 1 | 27 |
| Brown-Forman Corp. - Class B  | 811 | 21824 |
| Constellation Brands, Inc. - Class A  | 436 | 70929 |
|  |  | 92780 |
| **Drug Retail - 0.1%** |  |  |
| Walgreens Boots Alliance, Inc.  | 2786 | 31983 |
| **Food Distributors - 0.2%** |  |  |
| Performance Food Group Co. <sup>(a)</sup> | 150 | 13121 |
| Sysco Corp.  | 1418 | 107399 |
| US Foods Holding Corp. <sup>(a)</sup> | 126 | 9703 |
|  |  | 130223 |
| **Food Retail - 0.3%** |  |  |
| Albertsons Cos., Inc. - Class A  | 1248 | 26844 |
| Casey's General Stores, Inc.  | 25 | 12757 |
| Kroger Co.  | 2460 | 176456 |
|  |  | 216057 |
| **Household Products - 1.6%** |  |  |
| Church & Dwight Co., Inc.  | 202 | 19414 |
| Clorox Co.  | 278 | 33380 |
| Colgate-Palmolive Co.  | 1045 | 94991 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Household Products - 1.6% (Continued)** | | |
| Kimberly-Clark Corp.  | 1334 | $171979 |
| Procter & Gamble Co.  | 4047 | 644768 |
| Reynolds Consumer Products, Inc.  | 334 | 7154 |
|  |  | 971686 |
| **Packaged Foods & Meats - 1.4%** |  |  |
| Conagra Brands, Inc.  | 1891 | 38709 |
| Flowers Foods, Inc.  | 667 | 10659 |
| General Mills, Inc.  | 2221 | 115070 |
| Hershey Co.  | 442 | 73350 |
| Hormel Foods Corp.  | 1103 | 33366 |
| J M Smucker Co.  | 423 | 41538 |
| Kellanova  | 844 | 67123 |
| Kraft Heinz Co.  | 3081 | 79551 |
| Lamb Weston Holdings, Inc.  | 233 | 12081 |
| Marzetti Co.  | 14 | 2419 |
| McCormick & Co., Inc.  | 629 | 47691 |
| Mondelez International, Inc. - Class A  | 4028 | 271648 |
| Pilgrim's Pride Corp.  | 72 | 3238 |
| Post Holdings, Inc. <sup>(a)</sup> | 160 | 17445 |
| The Campbell's Co.  | 755 | 23141 |
| Tyson Foods, Inc. - Class A  | 1000 | 55940 |
|  |  | 892969 |
| **Personal Care Products - 0.2%** |  |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 47 | 2723 |
| Coty, Inc. - Class A <sup>(a)</sup> | 183 | 851 |
| Estee Lauder Cos., Inc. - Class A  | 620 | 50096 |
| Kenvue, Inc.  | 4727 | 98936 |
|  |  | 152606 |
| **Soft Drinks & Non-alcoholic Beverages - 1.6%** |  |  |
| Coca-Cola Co.  | 5166 | 365495 |
| Coca-Cola Consolidated, Inc.  | 70 | 7816 |
| Keurig Dr Pepper, Inc.  | 4208 | 139116 |
| PepsiCo, Inc.  | 3599 | 475212 |
| Primo Brands Corp.  | 399 | 11818 |
|  |  | 999457 |
| **Tobacco - 2.3%** |  |  |
| Altria Group, Inc.  | 6846 | 401381 |
| Philip Morris International, Inc.  | 5554 | 1011550 |
|  |  | 1412931 |
| **Total Consumer Staples** |  | 5903546 |
| **<u>Energy</u> - 9.9%** |  |  |
| **Integrated Oil & Gas - 4.8%** |  |  |
| Chevron Corp.  | 6630 | 949350 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Integrated Oil & Gas - 4.8% (Continued)** | | |
| Exxon Mobil Corp.  | 17558 | $1892752 |
| Occidental Petroleum Corp.  | 2714 | 114015 |
|  |  | 2956117 |
| **Oil & Gas Drilling - 0.0%**<sup>(b)</sup> |  |  |
| Noble Corp. PLC  | 519 | 13779 |
| Transocean Ltd. <sup>(a)</sup> | 2806 | 7268 |
|  |  | 21047 |
| **Oil & Gas Equipment & Services - 0.7%** |  |  |
| Baker Hughes Co.  | 3993 | 153092 |
| ChampionX Corp.  | 631 | 15674 |
| Halliburton Co.  | 3393 | 69149 |
| NOV, Inc.  | 1365 | 16967 |
| Schlumberger NV  | 5651 | 191004 |
| Weatherford International PLC  | 93 | 4679 |
|  |  | 450565 |
| **Oil & Gas Exploration & Production - 2.3%** |  |  |
| Antero Resources Corp. <sup>(a)</sup> | 881 | 35487 |
| APA Corp.  | 1476 | 26996 |
| Chord Energy Corp.  | 253 | 24503 |
| ConocoPhillips  | 5115 | 459020 |
| Coterra Energy, Inc.  | 2886 | 73247 |
| Devon Energy Corp.  | 2550 | 81116 |
| Diamondback Energy, Inc.  | 765 | 105111 |
| EOG Resources, Inc.  | 2266 | 271036 |
| EQT Corp.  | 1388 | 80948 |
| Expand Energy Corp.  | 935 | 109339 |
| Hess Corp.  | 59 | 8174 |
| Matador Resources Co.  | 427 | 20376 |
| Murphy Oil Corp.  | 630 | 14175 |
| Ovintiv, Inc.  | 1067 | 40599 |
| Permian Resources Corp.  | 2595 | 35344 |
| Range Resources Corp.  | 880 | 35790 |
| Venture Global, Inc. - Class A  | 145 | 2259 |
| Viper Energy, Inc.  | 271 | 10333 |
|  |  | 1433853 |
| **Oil & Gas Refining & Marketing - 1.0%** |  |  |
| HF Sinclair Corp.  | 637 | 26168 |
| Marathon Petroleum Corp.  | 1225 | 203485 |
| PBF Energy, Inc. - Class A  | 433 | 9383 |
| Phillips 66  | 1664 | 198515 |
| Valero Energy Corp.  | 1224 | 164530 |
|  |  | 602081 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Oil & Gas Storage & Transportation - 1.1%** |  |  |
| Cheniere Energy, Inc.  | 339 | $82553 |
| DT Midstream, Inc.  | 239 | 26269 |
| Hess Midstream LP - Class A  | 303 | 11669 |
| Kinder Morgan, Inc.  | 7841 | 230525 |
| Kinetik Holdings, Inc.  | 155 | 6828 |
| New Fortress Energy, Inc.  | 162 | 538 |
| ONEOK, Inc.  | 1878 | 153301 |
| Williams Cos., Inc.  | 2688 | 168833 |
|  |  | 680516 |
| **Total Energy** |  | 6144179 |
| **<u>Financials</u> - 22.3%** |  |  |
| **Asset Management & Custody Banks - 1.4%** |  |  |
| Affiliated Managers Group, Inc.  | 118 | 23219 |
| Ameriprise Financial, Inc.  | 83 | 44300 |
| Bank of New York Mellon Corp.  | 1732 | 157803 |
| Blackrock, Inc.  | 189 | 198308 |
| Blackstone, Inc.  | 104 | 15556 |
| Blue Owl Capital, Inc. - Class A  | 286 | 5494 |
| Carlyle Group, Inc.  | 1079 | 55461 |
| Franklin Resources, Inc.  | 1260 | 30051 |
| Invesco Ltd.  | 1720 | 27124 |
| Northern Trust Corp.  | 767 | 97248 |
| SEI Investments Co.  | 240 | 21566 |
| State Street Corp.  | 1119 | 118994 |
| T Rowe Price Group, Inc.  | 877 | 84631 |
| TPG, Inc.  | 21 | 1101 |
|  |  | 880856 |
| **Commercial & Residential Mortgage Finance - 0.1%** |  |  |
| Essent Group Ltd.  | 426 | 25871 |
| MGIC Investment Corp.  | 1087 | 30262 |
| Radian Group, Inc.  | 627 | 22584 |
| UWM Holdings Corp.  | 77 | 319 |
|  |  | 79036 |
| **Consumer Finance - 1.2%** |  |  |
| Ally Financial, Inc.  | 1091 | 42494 |
| Capital One Financial Corp.  | 2512 | 534453 |
| Credit Acceptance Corp. <sup>(a)</sup> | 13 | 6623 |
| OneMain Holdings, Inc.  | 445 | 25365 |
| SLM Corp.  | 863 | 28298 |
| Synchrony Financial  | 1403 | 93636 |
|  |  | 730869 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Diversified Banks - 8.8%** |  |  |
| Bank of America Corp.  | 25695 | $1215887 |
| Citigroup, Inc.  | 7583 | 645465 |
| Comerica, Inc.  | 483 | 28811 |
| Fifth Third Bancorp  | 2726 | 112120 |
| JPMorgan Chase & Co.  | 6938 | 2011396 |
| KeyCorp  | 4446 | 77449 |
| PNC Financial Services Group, Inc.  | 1597 | 297713 |
| US Bancorp  | 6234 | 282089 |
| Wells Fargo & Co.  | 10067 | 806568 |
|  |  | 5477498 |
| **Diversified Financial Services - 0.2%** |  |  |
| Corebridge Financial, Inc.  | 691 | 24530 |
| Equitable Holdings, Inc.  | 1327 | 74445 |
| Voya Financial, Inc.  | 264 | 18744 |
|  |  | 117719 |
| **Financial Exchanges & Data - 0.6%** |  |  |
| Cboe Global Markets, Inc.  | 11 | 2565 |
| CME Group, Inc.  | 1028 | 283338 |
| Intercontinental Exchange, Inc.  | 447 | 82011 |
| MarketAxess Holdings, Inc.  | 39 | 8710 |
| Nasdaq, Inc.  | 231 | 20656 |
|  |  | 397280 |
| **Insurance Brokers - 0.1%** |  |  |
| Marsh & McLennan Cos., Inc.  | 219 | 47882 |
| Willis Towers Watson PLC  | 101 | 30957 |
|  |  | 78839 |
| **Investment Banking & Brokerage - 2.4%** |  |  |
| Charles Schwab Corp.  | 4582 | 418062 |
| Goldman Sachs Group, Inc.  | 748 | 529397 |
| Houlihan Lokey, Inc.  | 20 | 3599 |
| Interactive Brokers Group, Inc. - Class A  | 772 | 42777 |
| Jefferies Financial Group, Inc.  | 562 | 30736 |
| Lazard, Inc.  | 427 | 20487 |
| Morgan Stanley  | 2863 | 403282 |
| Raymond James Financial, Inc.  | 169 | 25920 |
| Stifel Financial Corp.  | 275 | 28539 |
|  |  | 1502799 |
| **Life & Health Insurance - 1.3%** |  |  |
| Aflac, Inc.  | 2178 | 229692 |
| Globe Life, Inc.  | 356 | 44247 |
| Lincoln National Corp.  | 641 | 22179 |
| MetLife, Inc.  | 2339 | 188102 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Life & Health Insurance - 1.3% (Continued)** | | |
| Primerica, Inc.  | 81 | $22167 |
| Principal Financial Group, Inc.  | 920 | 73076 |
| Prudential Financial, Inc.  | 1435 | 154176 |
| Unum Group  | 652 | 52656 |
|  |  | 786295 |
| **Multi-Sector Holdings - 0.9%** |  |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 1095 | 531918 |
| **Property & Casualty Insurance - 3.0%** |  |  |
| Allstate Corp.  | 536 | 107902 |
| American Financial Group, Inc.  | 300 | 37863 |
| American International Group, Inc.  | 2365 | 202420 |
| Arch Capital Group Ltd.  | 1439 | 131021 |
| Assurant, Inc.  | 214 | 42263 |
| Axis Capital Holdings Ltd.  | 322 | 33430 |
| Chubb Ltd.  | 1515 | 438926 |
| Cincinnati Financial Corp.  | 540 | 80417 |
| Fidelity National Financial, Inc.  | 1044 | 58527 |
| First American Financial Corp.  | 428 | 26275 |
| Hanover Insurance Group, Inc.  | 134 | 22763 |
| Hartford Insurance Group, Inc.  | 1170 | 148438 |
| Loews Corp.  | 731 | 67004 |
| Markel Group, Inc. <sup>(a)</sup> | 51 | 101865 |
| Old Republic International Corp.  | 869 | 33404 |
| RLI Corp.  | 4 | 289 |
| Selective Insurance Group, Inc.  | 228 | 19756 |
| Travelers Cos., Inc.  | 906 | 242391 |
| W R Berkley Corp.  | 941 | 69135 |
|  |  | 1864089 |
| **Regional Banks - 1.7%** |  |  |
| Bank OZK  | 428 | 20142 |
| BOK Financial Corp.  | 40 | 3905 |
| Citizens Financial Group, Inc.  | 1594 | 71332 |
| Commerce Bancshares, Inc.  | 285 | 17718 |
| Cullen/Frost Bankers, Inc.  | 221 | 28407 |
| East West Bancorp, Inc.  | 483 | 48773 |
| First Financial Bankshares, Inc.  | 238 | 8563 |
| First Horizon Corp.  | 1997 | 42336 |
| Flagstar Financial, Inc.  | 1106 | 11724 |
| Huntington Bancshares, Inc.  | 5789 | 97024 |
| M&T Bank Corp.  | 653 | 126676 |
| Pinnacle Financial Partners, Inc.  | 130 | 14353 |
| Popular, Inc.  | 320 | 35267 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 1.7% (Continued)** | | |
| Prosperity Bancshares, Inc.  | 373 | $26200 |
| Regions Financial Corp.  | 3783 | 88976 |
| SouthState Corp.  | 374 | 34419 |
| Synovus Financial Corp.  | 580 | 30015 |
| TFS Financial Corp.  | 210 | 2720 |
| Truist Financial Corp.  | 5329 | 229094 |
| United Bankshares, Inc.  | 467 | 17013 |
| Webster Financial Corp.  | 654 | 35708 |
| Western Alliance Bancorp  | 281 | 21912 |
| Wintrust Financial Corp.  | 213 | 26408 |
| Zions Bancorp NA  | 584 | 30333 |
|  |  | 1069018 |
| **Reinsurance - 0.2%** |  |  |
| Everest Group Ltd.  | 192 | 65251 |
| Reinsurance Group of America, Inc.  | 255 | 50582 |
| RenaissanceRe Holdings Ltd.  | 158 | 38378 |
|  |  | 154211 |
| **Transaction & Payment Processing Services - 0.4%** |  |  |
| Euronet Worldwide, Inc. <sup>(a)</sup> | 134 | 13585 |
| Fidelity National Information Services, Inc.  | 1098 | 89388 |
| Global Payments, Inc.  | 879 | 70355 |
| Jack Henry & Associates, Inc.  | 12 | 2162 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 615 | 45707 |
| Western Union Co.  | 1481 | 12470 |
| WEX, Inc. <sup>(a)</sup> | 10 | 1469 |
|  |  | 235136 |
| **Total Financials** |  | 13905563 |
| **<u>Health Care</u> - 14.6%** |  |  |
| **Biotechnology - 2.6%** |  |  |
| AbbVie, Inc.  | 3571 | 662849 |
| Amgen, Inc.  | 1248 | 348454 |
| Biogen, Inc. <sup>(a)</sup> | 588 | 73847 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 103 | 5662 |
| CRISPR Therapeutics AG <sup>(a)</sup> | 219 | 10652 |
| Cytokinetics, Inc. <sup>(a)</sup> | 106 | 3502 |
| Gilead Sciences, Inc.  | 4257 | 471973 |
| Moderna, Inc. <sup>(a)</sup> | 740 | 20417 |
| Regeneron Pharmaceuticals, Inc.  | 45 | 23625 |
| Summit Therapeutics, Inc. <sup>(a)</sup> | 243 | 5171 |
|  |  | 1626152 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Health Care Distributors - 1.3%** |  |  |
| Cardinal Health, Inc.  | 988 | $165984 |
| Cencora, Inc.  | 744 | 223088 |
| Henry Schein, Inc. <sup>(a)</sup> | 450 | 32873 |
| McKesson Corp.  | 506 | 370787 |
|  |  | 792732 |
| **Health Care Equipment - 1.8%** |  |  |
| Abbott Laboratories  | 2204 | 299766 |
| Baxter International, Inc.  | 2056 | 62256 |
| Becton Dickinson & Co.  | 748 | 128843 |
| GE HealthCare Technologies, Inc.  | 598 | 44294 |
| Glaukos Corp. <sup>(a)</sup> | 2 | 207 |
| Hologic, Inc. <sup>(a)</sup> | 651 | 42419 |
| Medtronic PLC  | 5182 | 451715 |
| STERIS PLC  | 89 | 21379 |
| Teleflex, Inc.  | 174 | 20595 |
| Zimmer Biomet Holdings, Inc.  | 744 | 67860 |
|  |  | 1139334 |
| **Health Care Facilities - 0.6%** |  |  |
| Acadia Healthcare Co., Inc. <sup>(a)</sup> | 368 | 8350 |
| Encompass Health Corp.  | 184 | 22564 |
| HCA Healthcare, Inc.  | 583 | 223347 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 381 | 67056 |
| Universal Health Services, Inc. - Class B  | 225 | 40759 |
|  |  | 362076 |
| **Health Care Services - 1.5%** |  |  |
| Chemed Corp.  | 6 | 2922 |
| Cigna Group  | 1123 | 371241 |
| CVS Health Corp.  | 5032 | 347107 |
| DaVita, Inc. <sup>(a)</sup> | 105 | 14957 |
| Labcorp Holdings, Inc.  | 335 | 87941 |
| Option Care Health, Inc. <sup>(a)</sup> | 306 | 9939 |
| Quest Diagnostics, Inc.  | 463 | 83169 |
|  |  | 917276 |
| **Health Care Supplies - 0.0%**<sup>(b)</sup> |  |  |
| Align Technology, Inc. <sup>(a)</sup> | 11 | 2083 |
| Cooper Cos., Inc. <sup>(a)</sup> | 41 | 2918 |
| Dentsply Sirona, Inc.  | 846 | 13434 |
| Solventum Corp. <sup>(a)</sup> | 273 | 20704 |
|  |  | 39139 |
| **Life Sciences Tools & Services - 0.6%** |  |  |
| Agilent Technologies, Inc.  | 104 | 12273 |
| Avantor, Inc. <sup>(a)</sup> | 1331 | 17915 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Life Sciences Tools & Services - 0.6% (Continued)** | | |
| Bio-Rad Laboratories, Inc. - Class A <sup>(a)</sup> | 61 | $14720 |
| Charles River Laboratories International, Inc. <sup>(a)</sup> | 100 | 15173 |
| Danaher Corp.  | 957 | 189046 |
| ICON PLC <sup>(a)</sup> | 128 | 18618 |
| IQVIA Holdings, Inc. <sup>(a)</sup> | 15 | 2364 |
| Revvity, Inc.  | 462 | 44685 |
| Thermo Fisher Scientific, Inc.  | 242 | 98121 |
|  |  | 412915 |
| **Managed Health Care - 1.7%** |  |  |
| Centene Corp. <sup>(a)</sup> | 2025 | 109917 |
| Elevance Health, Inc.  | 900 | 350064 |
| Humana, Inc.  | 493 | 120529 |
| Molina Healthcare, Inc. <sup>(a)</sup> | 149 | 44387 |
| UnitedHealth Group, Inc.  | 1328 | 414296 |
|  |  | 1039193 |
| **Pharmaceuticals - 4.5%** |  |  |
| Bristol-Myers Squibb Co.  | 8195 | 379347 |
| Elanco Animal Health, Inc. <sup>(a)</sup> | 1744 | 24904 |
| Jazz Pharmaceuticals PLC <sup>(a)</sup> | 213 | 22604 |
| Johnson & Johnson  | 9779 | 1493742 |
| Merck & Co., Inc.  | 2460 | 194734 |
| Organon & Co.  | 1104 | 10687 |
| Perrigo Co. PLC  | 492 | 13146 |
| Pfizer, Inc.  | 22731 | 550999 |
| Royalty Pharma PLC - Class A  | 1498 | 53973 |
| Viatris, Inc.  | 4822 | 43060 |
|  |  | 2787196 |
| **Total Health Care** |  | 9116013 |
| **<u>Industrials</u> - 9.2%** |  |  |
| **Aerospace & Defense - 2.4%** |  |  |
| Boeing Co. <sup>(a)</sup> | 228 | 47773 |
| BWX Technologies, Inc.  | 1 | 144 |
| General Dynamics Corp.  | 613 | 178788 |
| Hexcel Corp.  | 128 | 7231 |
| Huntington Ingalls Industries, Inc.  | 145 | 35012 |
| L3Harris Technologies, Inc.  | 565 | 141725 |
| Lockheed Martin Corp.  | 809 | 374680 |
| Northrop Grumman Corp.  | 302 | 150994 |
| Rocket Lab Corp. <sup>(a)</sup> | 437 | 15631 |
| RTX Corp.  | 2891 | 422144 |
| StandardAero, Inc. <sup>(a)</sup> | 10 | 316 |
| Textron, Inc.  | 581 | 46648 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Aerospace & Defense - 2.4% (Continued)** | | |
| TransDigm Group, Inc.  | 33 | $50181 |
| Woodward, Inc.  | 33 | 8088 |
|  |  | 1479355 |
| **Agricultural & Farm Machinery - 0.5%** |  |  |
| AGCO Corp.  | 228 | 23521 |
| CNH Industrial NV  | 3543 | 45917 |
| Deere & Co.  | 423 | 215091 |
| Toro Co.  | 224 | 15832 |
|  |  | 300361 |
| **Air Freight & Logistics - 0.9%** |  |  |
| CH Robinson Worldwide, Inc.  | 273 | 26194 |
| Expeditors International of Washington, Inc.  | 311 | 35532 |
| FedEx Corp.  | 857 | 194805 |
| GXO Logistics, Inc. <sup>(a)</sup> | 275 | 13392 |
| United Parcel Service, Inc. - Class B  | 2958 | 298581 |
|  |  | 568504 |
| **Building Products - 0.6%** |  |  |
| A O Smith Corp.  | 207 | 13573 |
| Advanced Drainage Systems, Inc.  | 65 | 7466 |
| Allegion PLC  | 117 | 16862 |
| Builders FirstSource, Inc. <sup>(a)</sup> | 335 | 39091 |
| Carlisle Cos., Inc.  | 33 | 12322 |
| Carrier Global Corp.  | 580 | 42450 |
| Fortune Brands Innovations, Inc.  | 336 | 17297 |
| Johnson Controls International PLC  | 1320 | 139418 |
| Masco Corp.  | 607 | 39067 |
| Owens Corning  | 336 | 46207 |
| Simpson Manufacturing Co., Inc.  | 3 | 466 |
| UFP Industries, Inc.  | 227 | 22555 |
|  |  | 396774 |
| **Cargo Ground Transportation - 0.1%** |  |  |
| JB Hunt Transport Services, Inc.  | 117 | 16801 |
| Knight-Swift Transportation Holdings, Inc.  | 365 | 16144 |
| Landstar System, Inc.  | 68 | 9453 |
| U-Haul Holding Co.  | 172 | 9352 |
| U-Haul Holding Co. <sup>(a)</sup> | 7 | 424 |
|  |  | 52174 |
| **Construction & Engineering - 0.2%** |  |  |
| AECOM  | 175 | 19751 |
| API Group Corp. <sup>(a)</sup> | 501 | 25576 |
| Everus Construction Group, Inc. <sup>(a)</sup> | 56 | 3558 |
| Fluor Corp. <sup>(a)</sup> | 687 | 35222 |
| MasTec, Inc. <sup>(a)</sup> | 102 | 17384 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Construction & Engineering - 0.2% (Continued)** | | |
| Valmont Industries, Inc.  | 20 | $6531 |
|  |  | 108022 |
| **Construction Machinery & Heavy Transportation Equipment - 0.7%** |  |  |
| Allison Transmission Holdings, Inc.  | 77 | 7314 |
| Caterpillar, Inc.  | 451 | 175083 |
| Cummins, Inc.  | 141 | 46177 |
| Oshkosh Corp.  | 251 | 28499 |
| PACCAR, Inc.  | 2073 | 197059 |
|  |  | 454132 |
| **Data Processing & Outsourced Services - 0.1%** |  |  |
| Broadridge Financial Solutions, Inc.  | 5 | 1215 |
| Concentrix Corp.  | 217 | 11470 |
| Genpact Ltd.  | 719 | 31643 |
| Maximus, Inc.  | 229 | 16076 |
| SS&C Technologies Holdings, Inc.  | 404 | 33451 |
|  |  | 93855 |
| **Electrical Components & Equipment - 0.3%** |  |  |
| Acuity, Inc.  | 37 | 11039 |
| Emerson Electric Co.  | 709 | 94531 |
| Generac Holdings, Inc. <sup>(a)</sup> | 50 | 7160 |
| NEXTracker, Inc. - Class A <sup>(a)</sup> | 547 | 29740 |
| nVent Electric PLC  | 34 | 2490 |
| Regal Rexnord Corp.  | 225 | 32616 |
| Sensata Technologies Holding PLC  | 605 | 18217 |
|  |  | 195793 |
| **Environmental & Facilities Services - 0.0%**<sup>(b)</sup> |  |  |
| Waste Management, Inc.  | 50 | 11441 |
| **Human Resource & Employment Services - 0.1%** |  |  |
| Automatic Data Processing, Inc.  | 25 | 7710 |
| Paychex, Inc.  | 229 | 33310 |
| Robert Half, Inc.  | 226 | 9277 |
| TriNet Group, Inc.  | 27 | 1975 |
|  |  | 52272 |
| **Industrial Conglomerates - 0.9%** |  |  |
| 3M Co.  | 1901 | 289408 |
| Honeywell International, Inc.  | 1032 | 240332 |
|  |  | 529740 |
| **Industrial Machinery & Supplies & Components - 0.7%** |  |  |
| Donaldson Co., Inc.  | 189 | 13107 |
| Dover Corp.  | 192 | 35180 |
| Flowserve Corp.  | 234 | 12250 |
| Fortive Corp.  | 194 | 10113 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Industrial Machinery & Supplies & Components - 0.7% (Continued)** | | |
| Gates Industrial Corp. PLC <sup>(a)</sup> | 650 | $14970 |
| Graco, Inc.  | 56 | 4814 |
| IDEX Corp.  | 56 | 9832 |
| Illinois Tool Works, Inc.  | 267 | 66016 |
| ITT, Inc.  | 27 | 4235 |
| Lincoln Electric Holdings, Inc.  | 22 | 4561 |
| Middleby Corp. <sup>(a)</sup> | 147 | 21168 |
| Mueller Industries, Inc.  | 224 | 17801 |
| Nordson Corp.  | 66 | 14149 |
| Otis Worldwide Corp.  | 609 | 60303 |
| Pentair PLC  | 99 | 10163 |
| Snap-on, Inc.  | 149 | 46366 |
| Stanley Black & Decker, Inc.  | 663 | 44918 |
| Timken Co.  | 236 | 17122 |
| Watts Water Technologies, Inc. - Class A  | 9 | 2213 |
| Xylem, Inc.  | 220 | 28459 |
|  |  | 437740 |
| **Office Services & Supplies - 0.0%**<sup>(b)</sup> |  |  |
| MSA Safety, Inc.  | 34 | 5696 |
| **Passenger Airlines - 0.1%** |  |  |
| Alaska Air Group, Inc. <sup>(a)</sup> | 43 | 2128 |
| American Airlines Group, Inc. <sup>(a)</sup> | 642 | 7203 |
| Delta Air Lines, Inc.  | 474 | 23311 |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 328 | 26119 |
|  |  | 58761 |
| **Rail Transportation - 0.8%** |  |  |
| CSX Corp.  | 3635 | 118610 |
| Norfolk Southern Corp.  | 548 | 140272 |
| Union Pacific Corp.  | 1012 | 232841 |
|  |  | 491723 |
| **Research & Consulting Services - 0.3%** |  |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 342 | 8077 |
| Booz Allen Hamilton Holding Corp.  | 113 | 11767 |
| CACI International, Inc. - Class A <sup>(a)</sup> | 32 | 15254 |
| Clarivate PLC <sup>(a)</sup> | 1395 | 5998 |
| FTI Consulting, Inc. <sup>(a)</sup> | 37 | 5976 |
| Jacobs Solutions, Inc.  | 382 | 50214 |
| KBR, Inc.  | 227 | 10882 |
| Leidos Holdings, Inc.  | 289 | 45593 |
| Science Applications International Corp.  | 141 | 15878 |
|  |  | 169639 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Trading Companies & Distributors - 0.5%** |  |  |
| AerCap Holdings NV  | 747 | $87399 |
| Air Lease Corp.  | 426 | 24917 |
| Applied Industrial Technologies, Inc.  | 11 | 2557 |
| Core & Main, Inc. - Class A <sup>(a)</sup> | 125 | 7544 |
| Fastenal Co.  | 282 | 11844 |
| Ferguson Enterprises, Inc.  | 354 | 77083 |
| MSC Industrial Direct Co., Inc. - Class A  | 156 | 13263 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 5 | 605 |
| United Rentals, Inc.  | 50 | 37670 |
| Watsco, Inc.  | 13 | 5741 |
| Wesco International, Inc.  | 209 | 38707 |
|  |  | 307330 |
| **Total Industrials** |  | 5713312 |
| **<u>Information Technology</u> - 8.4%** |  |  |
| **Application Software - 0.1%** |  |  |
| Circle Internet Group, Inc. <sup>(a)</sup> | 69 | 12509 |
| Procore Technologies, Inc. <sup>(a)</sup> | 3 | 205 |
| Roper Technologies, Inc.  | 17 | 9636 |
| Zoom Communications, Inc. - Class A <sup>(a)</sup> | 206 | 16064 |
|  |  | 38414 |
| **Communications Equipment - 1.1%** |  |  |
| Cisco Systems, Inc.  | 9360 | 649397 |
| F5, Inc. <sup>(a)</sup> | 46 | 13538 |
| Juniper Networks, Inc.  | 703 | 28071 |
|  |  | 691006 |
| **Electronic Components - 0.1%** |  |  |
| Corning, Inc.  | 1524 | 80147 |
| Littelfuse, Inc.  | 38 | 8616 |
|  |  | 88763 |
| **Electronic Equipment & Instrum - 0.0%**<sup>(b)</sup> |  |  |
| Ralliant Corp. <sup>(a)</sup> | 65 | 3136 |
| **Electronic Equipment & Instruments - 0.1%** |  |  |
| Cognex Corp.  | 125 | 3965 |
| Crane NXT Co.  | 156 | 8409 |
| Teledyne Technologies, Inc. <sup>(a)</sup> | 40 | 20492 |
| Trimble, Inc. <sup>(a)</sup> | 152 | 11549 |
| Vontier Corp.  | 260 | 9594 |
| Zebra Technologies Corp. - Class A <sup>(a)</sup> | 40 | 12334 |
|  |  | 66343 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Electronic Manufacturing Services - 0.4%** |  |  |
| Flex Ltd. <sup>(a)</sup> | 1262 | $62999 |
| Jabil, Inc.  | 200 | 43620 |
| TE Connectivity PLC  | 763 | 128695 |
|  |  | 235314 |
| **Internet Services & Infrastructure - 0.1%** |  |  |
| Akamai Technologies, Inc. <sup>(a)</sup> | 295 | 23529 |
| CoreWeave, Inc. - Class A <sup>(a)</sup> | 77 | 12556 |
| VeriSign, Inc.  | 33 | 9530 |
|  |  | 45615 |
| **IT Consulting & Other Services - 1.9%** |  |  |
| Accenture PLC - Class A  | 256 | 76516 |
| Amdocs Ltd.  | 387 | 35310 |
| Cognizant Technology Solutions Corp. - Class A  | 1525 | 118996 |
| DXC Technology Co. <sup>(a)</sup> | 627 | 9587 |
| EPAM Systems, Inc. <sup>(a)</sup> | 2 | 353 |
| International Business Machines Corp.  | 3267 | 963046 |
| Kyndryl Holdings, Inc. <sup>(a)</sup> | 273 | 11455 |
|  |  | 1215263 |
| **Semiconductor Materials & Equipment - 0.3%** |  |  |
| Amkor Technology, Inc.  | 232 | 4870 |
| Applied Materials, Inc.  | 514 | 94098 |
| Entegris, Inc.  | 7 | 565 |
| Lam Research Corp.  | 511 | 49741 |
| MKS, Inc.  | 168 | 16692 |
| Teradyne, Inc.  | 132 | 11869 |
|  |  | 177835 |
| **Semiconductors - 3.1%** |  |  |
| Analog Devices, Inc.  | 154 | 36655 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 95 | 9904 |
| First Solar, Inc. <sup>(a)</sup> | 73 | 12084 |
| GlobalFoundries, Inc. <sup>(a)</sup> | 10 | 382 |
| Intel Corp.  | 15870 | 355488 |
| Microchip Technology, Inc.  | 599 | 42152 |
| Micron Technology, Inc.  | 4491 | 553516 |
| NXP Semiconductors NV  | 301 | 65766 |
| ON Semiconductor Corp. <sup>(a)</sup> | 964 | 50523 |
| Qorvo, Inc. <sup>(a)</sup> | 364 | 30907 |
| Qualcomm, Inc.  | 2210 | 351965 |
| Silicon Laboratories, Inc. <sup>(a)</sup> | 53 | 7810 |
| Skyworks Solutions, Inc.  | 645 | 48065 |
| Synaptics, Inc. <sup>(a)</sup> | 18 | 1167 |
| Texas Instruments, Inc.  | 1681 | 349009 |
|  |  | 1915393 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Systems Software - 0.0%**<sup>(b)</sup> |  |  |
| Dolby Laboratories, Inc. - Class A  | 31 | $2302 |
| Gen Digital, Inc.  | 1181 | 34722 |
|  |  | 37024 |
| **Technology Distributors - 0.2%** |  |  |
| Arrow Electronics, Inc. <sup>(a)</sup> | 215 | 27397 |
| CDW Corp.  | 323 | 57685 |
| TD Synnex Corp.  | 258 | 35011 |
|  |  | 120093 |
| **Technology Hardware, Storage & Peripherals - 1.0%** |  |  |
| Dell Technologies, Inc. - Class C  | 1042 | 127749 |
| Hewlett Packard Enterprise Co.  | 5222 | 106790 |
| HP, Inc.  | 3785 | 92581 |
| NetApp, Inc.  | 301 | 32071 |
| Sandisk Corp. <sup>(a)</sup> | 516 | 23401 |
| Seagate Technology Holdings PLC  | 854 | 123258 |
| Western Digital Corp.  | 1526 | 97649 |
|  |  | 603499 |
| **Total Information Technology** |  | 5237698 |
| **<u>Materials</u> - 3.7%** |  |  |
| **Aluminum - 0.0%**<sup>(b)</sup> |  |  |
| Alcoa Corp.  | 404 | 11922 |
| **Commodity Chemicals - 0.3%** |  |  |
| Dow, Inc.  | 2960 | 78381 |
| LyondellBasell Industries NV - Class A  | 1046 | 60521 |
| Olin Corp.  | 486 | 9764 |
| Westlake Corp.  | 32 | 2430 |
|  |  | 151096 |
| **Construction Materials - 0.2%** |  |  |
| CRH PLC  | 1250 | 114750 |
| Eagle Materials, Inc.  | 12 | 2426 |
| Martin Marietta Materials, Inc.  | 23 | 12626 |
|  |  | 129802 |
| **Copper - 0.2%** |  |  |
| Freeport-McMoRan, Inc.  | 2944 | 127622 |
| **Fertilizers & Agricultural Chemicals - 0.4%** |  |  |
| CF Industries Holdings, Inc.  | 733 | 67436 |
| Corteva, Inc.  | 1474 | 109857 |
| FMC Corp.  | 464 | 19372 |
| Mosaic Co.  | 1288 | 46986 |
| Scotts Miracle-Gro Co.  | 214 | 14116 |
|  |  | 257767 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Gold - 0.5%** |  |  |
| Newmont Corp.  | 4600 | $267996 |
| Royal Gold, Inc.  | 30 | 5335 |
|  |  | 273331 |
| **Industrial Gases - 0.3%** |  |  |
| Air Products and Chemicals, Inc.  | 376 | 106055 |
| Linde PLC  | 208 | 97589 |
|  |  | 203644 |
| **Metal, Glass & Plastic Containers - 0.2%** |  |  |
| AptarGroup, Inc.  | 106 | 16581 |
| Ball Corp.  | 874 | 49023 |
| Crown Holdings, Inc.  | 496 | 51078 |
|  |  | 116682 |
| **Paper & Plastic Packaging Products & Materials - 0.5%** |  |  |
| Amcor PLC  | 9020 | 82894 |
| Avery Dennison Corp.  | 167 | 29303 |
| Graphic Packaging Holding Co.  | 1097 | 23114 |
| International Paper Co.  | 2142 | 100310 |
| Packaging Corp. of America  | 188 | 35429 |
| Sealed Air Corp.  | 543 | 16849 |
| Smurfit WestRock PLC  | 433 | 18684 |
| Sonoco Products Co.  | 326 | 14200 |
|  |  | 320783 |
| **Specialty Chemicals - 0.6%** |  |  |
| Albemarle Corp.  | 466 | 29204 |
| Ashland, Inc.  | 168 | 8447 |
| Axalta Coating Systems Ltd. <sup>(a)</sup> | 346 | 10273 |
| Celanese Corp.  | 455 | 25175 |
| DuPont de Nemours, Inc.  | 1245 | 85395 |
| Eastman Chemical Co.  | 513 | 38301 |
| International Flavors & Fragrances, Inc.  | 1050 | 77227 |
| PPG Industries, Inc.  | 756 | 85995 |
| RPM International, Inc.  | 183 | 20101 |
|  |  | 380118 |
| **Steel - 0.5%** |  |  |
| Cleveland-Cliffs, Inc. <sup>(a)</sup> | 1755 | 13338 |
| Commercial Metals Co.  | 440 | 21520 |
| Nucor Corp.  | 946 | 122545 |
| Reliance, Inc.  | 218 | 68430 |
| Steel Dynamics, Inc.  | 550 | 70406 |
|  |  | 296239 |
| **Total Materials** |  | 2269006 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Real Estate</u> - 0.1%** | |  |
| **Real Estate Services - 0.1%** |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 138 | $19337 |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 143 | 36576 |
| Zillow Group, Inc. - Class A <sup>(a)</sup> | 25 | 1712 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 74 | 5184 |
| **Total Real Estate** |  | 62809 |
| **<u>Utilities</u> - 6.9%** |  |  |
| **Electric Utilities - 4.4%** |  |  |
| Alliant Energy Corp.  | 1100 | 66517 |
| American Electric Power Co., Inc.  | 2147 | 222773 |
| Constellation Energy Corp.  | 8 | 2582 |
| Duke Energy Corp.  | 3109 | 366862 |
| Edison International  | 1600 | 82560 |
| Entergy Corp.  | 1731 | 143881 |
| Evergy, Inc.  | 937 | 64587 |
| Eversource Energy  | 1415 | 90022 |
| Exelon Corp.  | 4058 | 176198 |
| FirstEnergy Corp.  | 2254 | 90746 |
| IDACORP, Inc.  | 217 | 25053 |
| NextEra Energy, Inc.  | 5261 | 365219 |
| NRG Energy, Inc.  | 816 | 131033 |
| OGE Energy Corp.  | 730 | 32397 |
| PG&E Corp.  | 8825 | 123020 |
| Pinnacle West Capital Corp.  | 444 | 39725 |
| Portland General Electric Co.  | 489 | 19868 |
| PPL Corp.  | 2559 | 86725 |
| Southern Co.  | 4365 | 400838 |
| TXNM Energy, Inc.  | 324 | 18248 |
| Xcel Energy, Inc.  | 2406 | 163849 |
|  |  | 2712703 |
| **Gas Utilities - 0.2%** |  |  |
| Atmos Energy Corp.  | 558 | 85993 |
| MDU Resources Group, Inc.  | 704 | 11736 |
| National Fuel Gas Co.  | 329 | 27870 |
| UGI Corp.  | 839 | 30556 |
|  |  | 156155 |
| **Independent Power Producers & Energy Traders - 0.1%** |  |  |
| AES Corp.  | 2798 | 29435 |
| Talen Energy Corp. <sup>(a)</sup> | 35 | 10177 |
|  |  | 39612 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.6% (CONTINUED)** | **Shares** | **Value**  |
| **Multi-Utilities - 2.0%** |  |  |
| Ameren Corp.  | 1073 | $103051 |
| Black Hills Corp.  | 231 | 12959 |
| CenterPoint Energy, Inc.  | 2626 | 96479 |
| CMS Energy Corp.  | 1151 | 79741 |
| Consolidated Edison, Inc.  | 1379 | 138383 |
| Dominion Energy, Inc.  | 3395 | 191885 |
| DTE Energy Co.  | 765 | 101332 |
| NiSource, Inc.  | 2029 | 81850 |
| Public Service Enterprise Group, Inc.  | 1525 | 128374 |
| Sempra  | 2193 | 166164 |
| WEC Energy Group, Inc.  | 1324 | 137961 |
|  |  | 1238179 |
| **Renewable Electricity - 0.0%**<sup>(b)</sup> |  |  |
| Clearway Energy, Inc. - Class A  | 54 | 1634 |
| Clearway Energy, Inc. - Class C  | 260 | 8320 |
|  |  | 9954 |
| **Water Utilities - 0.2%** |  |  |
| American Water Works Co., Inc.  | 608 | 84579 |
| Essential Utilities, Inc.  | 1076 | 39962 |
|  |  | 124541 |
| **Total Utilities** |  | 4281144 |
| **TOTAL COMMON STOCKS** (Cost $55,321,464) |  | 59521306 |
| **REAL ESTATE INVESTMENT TRUSTS - 4.2%** |  |  |
| **<u>Financials</u> - 0.2%** |  |  |
| **Mortgage REITs - 0.2%** |  |  |
| AGNC Investment Corp.  | 4279 | 39324 |
| Annaly Capital Management, Inc.  | 2260 | 42533 |
| Rithm Capital Corp.  | 1941 | 21914 |
| Starwood Property Trust, Inc.  | 1108 | 22238 |
| **Total Financials** |  | 126009 |
| **<u>Real Estate</u> - 4.0%** |  |  |
| **Data Center REITs - 0.1%** |  |  |
| Digital Realty Trust, Inc.  | 491 | 85596 |
| **Diversified REITs - 0.1%** |  |  |
| WP Carey, Inc.  | 842 | 52524 |
| **Health Care REITs - 0.5%** |  |  |
| Alexandria Real Estate Equities, Inc.  | 582 | 42271 |
| Healthcare Realty Trust, Inc.  | 1495 | 23711 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 4.2% (CONTINUED)** | **Shares** | **Value** |
| **Health Care REITs - 0.5% (Continued** | | |
| Healthpeak Properties, Inc.  | 2395 | $41936 |
| Omega Healthcare Investors, Inc.  | 1105 | 40498 |
| Ventas, Inc.  | 1640 | 103566 |
| Welltower, Inc.  | 203 | 31207 |
|  |  | 283189 |
| **Hotel & Resort REITs - 0.0%**<sup>(b)</sup> |  |  |
| Host Hotels & Resorts, Inc.  | 1580 | 24269 |
| **Industrial REITs - 0.4%** |  |  |
| Americold Realty Trust, Inc.  | 1096 | 18226 |
| EastGroup Properties, Inc.  | 60 | 10027 |
| First Industrial Realty Trust, Inc.  | 164 | 7893 |
| Lineage, Inc.  | 113 | 4918 |
| Prologis, Inc.  | 1748 | 183750 |
| Rexford Industrial Realty, Inc.  | 687 | 24437 |
| STAG Industrial, Inc.  | 538 | 19519 |
|  |  | 268770 |
| **Multi-Family Residential REITs - 0.4%** |  |  |
| AvalonBay Communities, Inc.  | 249 | 50672 |
| Camden Property Trust  | 199 | 22425 |
| Equity Residential  | 850 | 57367 |
| Essex Property Trust, Inc.  | 155 | 43927 |
| Mid-America Apartment Communities, Inc.  | 232 | 34338 |
| UDR, Inc.  | 547 | 22334 |
|  |  | 231063 |
| **Office REITs - 0.1%** |  |  |
| BXP, Inc.  | 644 | 43451 |
| Cousins Properties, Inc.  | 903 | 27117 |
| Kilroy Realty Corp.  | 444 | 15233 |
|  |  | 85801 |
| **Other Specialized REITs - 0.4%** |  |  |
| Gaming and Leisure Properties, Inc.  | 1062 | 49574 |
| Iron Mountain, Inc.  | 262 | 26873 |
| Lamar Advertising Co. - Class A  | 186 | 22573 |
| VICI Properties, Inc.  | 4210 | 137246 |
|  |  | 236266 |
| **Retail REITs - 0.8%** |  |  |
| Agree Realty Corp.  | 372 | 27178 |
| Brixmor Property Group, Inc.  | 848 | 22082 |
| Federal Realty Investment Trust  | 147 | 13964 |
| Kimco Realty Corp.  | 2062 | 43343 |
| NNN REIT, Inc.  | 681 | 29406 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 4.2% (CONTINUED)** | **Shares** | **Value** |
| **Retail REITs - 0.8% (Continued)** | | |
| Realty Income Corp.  | 3523 | $202960 |
| Regency Centers Corp.  | 453 | 32267 |
| Simon Property Group, Inc.  | 923 | 148381 |
|  |  | 519581 |
| **Self-Storage REITs - 0.3%** |  |  |
| CubeSmart  | 634 | 26945 |
| Extra Space Storage, Inc.  | 582 | 85810 |
| National Storage Affiliates Trust  | 249 | 7966 |
| Public Storage  | 226 | 66313 |
|  |  | 187034 |
| **Single-Family Residential REITs - 0.2%** |  |  |
| American Homes 4 Rent - Class A  | 348 | 12552 |
| Equity LifeStyle Properties, Inc.  | 208 | 12827 |
| Invitation Homes, Inc.  | 926 | 30373 |
| Sun Communities, Inc.  | 263 | 33267 |
|  |  | 89019 |
| **Telecom Tower REITs - 0.5%** |  |  |
| American Tower Corp.  | 729 | 161124 |
| Crown Castle, Inc.  | 1703 | 174949 |
|  |  | 336073 |
| **Timber REITs - 0.2%** |  |  |
| Rayonier, Inc.  | 601 | 13330 |
| Weyerhaeuser Co.  | 2930 | 75272 |
|  |  | 88602 |
| **Total Real Estate** |  | 2487787 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,623,743) |  | 2613796 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Funds - 0.1%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(c)</sup> | 59372 | 59372 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $59,372) |  | 59372 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $58,004,579**)** |  | $62194474 |
| Other Assets in Excess of Liabilities - 0.1%  |  | 56260 |
| **TOTAL NET ASSETS - 100.0%** |  | $62250734 |

---

Percentages are stated as a percent of net assets.

LP - Limited Partnership

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 1000 VALUE ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 10.1%** | |  |
| **Advertising - 0.1%** |  |  |
| Omnicom Group, Inc.  | 3297 | $237186 |
| Trade Desk, Inc. - Class A <sup>(a)</sup> | 7414 | 533734 |
|  |  | 770920 |
| **Broadcasting - 0.0%**<sup>(b)</sup> |  |  |
| Fox Corp. - Class A  | 3568 | 199951 |
| Fox Corp. - Class B  | 1950 | 100678 |
|  |  | 300629 |
| **Cable & Satellite - 0.3%** |  |  |
| Charter Communications, Inc. - Class A <sup>(a)</sup> | 1481 | 605448 |
| Comcast Corp. - Class A  | 66060 | 2357681 |
|  |  | 2963129 |
| **Integrated Telecommunication Services - 0.7%** |  |  |
| AT&T, Inc.  | 124758 | 3610496 |
| Verizon Communications, Inc.  | 67448 | 2918475 |
|  |  | 6528971 |
| **Interactive Home Entertainment - 0.3%** |  |  |
| Electronic Arts, Inc.  | 4660 | 744202 |
| Roblox Corp. - Class A <sup>(a)</sup> | 9771 | 1027909 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup> | 2918 | 708637 |
|  |  | 2480748 |
| **Interactive Media & Services - 6.6%** |  |  |
| Alphabet, Inc. - Class A  | 101649 | 17913603 |
| Alphabet, Inc. - Class C  | 82005 | 14546867 |
| Meta Platforms, Inc. - Class A  | 38181 | 28181014 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 9834 | 352647 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 1696 | 255367 |
| Snap, Inc. - Class A <sup>(a)</sup> | 17350 | 150772 |
|  |  | 61400270 |
| **Movies & Entertainment - 1.9%** |  |  |
| Liberty Media Corp.-Liberty Formula One - Class A <sup>(a)</sup> | 255 | 24215 |
| Liberty Media Corp.-Liberty Formula One - Class C <sup>(a)</sup> | 3579 | 374005 |
| Live Nation Entertainment, Inc. <sup>(a)</sup> | 2568 | 388487 |
| Netflix, Inc. <sup>(a)</sup> | 7386 | 9890814 |
| Spotify Technology SA <sup>(a)</sup> | 2252 | 1728050 |
| TKO Group Holdings, Inc.  | 1129 | 205422 |
| Walt Disney Co.  | 32176 | 3990146 |
| Warner Bros Discovery, Inc. <sup>(a)</sup> | 38028 | 435801 |
| Warner Music Group Corp. - Class A  | 2322 | 63251 |
|  |  | 17100191 |
| **Wireless Telecommunication Services - 0.2%** |  |  |
| T-Mobile US, Inc.  | 8236 | 1962309 |
| **Total Communication Services** |  | 93507167 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Consumer Discretionary</u> - 10.3%** | |  |
| **Apparel Retail - 0.4%** |  |  |
| Ross Stores, Inc.  | 5570 | $710620 |
| TJX Cos., Inc.  | 20159 | 2489435 |
|  |  | 3200055 |
| **Apparel, Accessories & Luxury Goods - 0.1%** |  |  |
| Lululemon Athletica, Inc. <sup>(a)</sup> | 1813 | 430733 |
| **Automobile Manufacturers - 1.9%** |  |  |
| Ford Motor Co.  | 67996 | 737757 |
| General Motors Co.  | 17264 | 849561 |
| Rivian Automotive, Inc. - Class A <sup>(a)</sup> | 12831 | 176298 |
| Stellantis NV  | 31699 | 317941 |
| Tesla, Inc. <sup>(a)</sup> | 49262 | 15648567 |
|  |  | 17730124 |
| **Automotive Parts & Equipment - 0.0%**<sup>(b)</sup> |  |  |
| Aptiv PLC <sup>(a)</sup> | 3945 | 269128 |
| **Automotive Retail - 0.3%** |  |  |
| AutoZone, Inc. <sup>(a)</sup> | 273 | 1013439 |
| Carvana Co. <sup>(a)</sup> | 2011 | 677626 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | 15423 | 1390075 |
|  |  | 3081140 |
| **Broadline Retail - 4.0%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 167350 | 36714917 |
| eBay, Inc.  | 8272 | 615933 |
|  |  | 37330850 |
| **Casinos & Gaming - 0.1%** |  |  |
| DraftKings, Inc. - Class A <sup>(a)</sup> | 8043 | 344964 |
| Las Vegas Sands Corp.  | 5915 | 257362 |
|  |  | 602326 |
| **Computer & Electronics Retail - 0.0%**<sup>(b)</sup> |  |  |
| Best Buy Co., Inc.  | 3360 | 225557 |
| **Consumer Electronics - 0.1%** |  |  |
| Garmin Ltd.  | 2677 | 558743 |
| **Distributors - 0.0%**<sup>(b)</sup> |  |  |
| Genuine Parts Co.  | 2364 | 286777 |
| **Footwear - 0.2%** |  |  |
| Deckers Outdoor Corp. <sup>(a)</sup> | 2827 | 291379 |
| NIKE, Inc. - Class B  | 20117 | 1429112 |
|  |  | 1720491 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Home Improvement Retail - 0.9%** |  |  |
| Home Depot, Inc.  | 17547 | $6433432 |
| Lowe's Cos., Inc.  | 9810 | 2176545 |
|  |  | 8609977 |
| **Homebuilding - 0.2%** |  |  |
| DR Horton, Inc.  | 4908 | 632739 |
| Lennar Corp. - Class A  | 3704 | 409699 |
| Lennar Corp. - Class B  | 109 | 11472 |
| NVR, Inc. <sup>(a)</sup> | 48 | 354512 |
| PulteGroup, Inc.  | 3473 | 366263 |
|  |  | 1774685 |
| **Homefurnishing Retail - 0.0%**<sup>(b)</sup> |  |  |
| Williams-Sonoma, Inc.  | 1985 | 324289 |
| **Hotels, Resorts & Cruise Lines - 0.9%** |  |  |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 6481 | 857695 |
| Booking Holdings, Inc.  | 565 | 3270921 |
| Carnival Corp. <sup>(a)</sup> | 16930 | 476071 |
| Expedia Group, Inc.  | 2313 | 390157 |
| Hilton Worldwide Holdings, Inc.  | 4082 | 1087200 |
| Marriott International, Inc. - Class A  | 3809 | 1040657 |
| Royal Caribbean Cruises Ltd.  | 4001 | 1252873 |
|  |  | 8375574 |
| **Other Specialty Retail - 0.1%** |  |  |
| Tractor Supply Co.  | 9290 | 490233 |
| Ulta Beauty, Inc. <sup>(a)</sup> | 752 | 351801 |
|  |  | 842034 |
| **Restaurants - 1.1%** |  |  |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup> | 23840 | 1338616 |
| Darden Restaurants, Inc.  | 1903 | 414797 |
| Domino's Pizza, Inc.  | 623 | 280724 |
| DoorDash, Inc. - Class A <sup>(a)</sup> | 6621 | 1632143 |
| McDonald's Corp.  | 12438 | 3634010 |
| Starbucks Corp.  | 19344 | 1772491 |
| Yum! Brands, Inc.  | 4786 | 709189 |
|  |  | 9781970 |
| **Total Consumer Discretionary** |  | 95144453 |
| **<u>Consumer Staples</u> - 5.3%** |  |  |
| **Agricultural Products & Services - 0.0%**<sup>(b)</sup> |  |  |
| Archer-Daniels-Midland Co.  | 8194 | 432479 |
| **Consumer Staples Merchandise Retail - 1.8%** |  |  |
| Costco Wholesale Corp.  | 7775 | 7696784 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Consumer Staples Merchandise Retail - 1.8% (Continued)** | | |
| Dollar General Corp.  | 3729 | $426523 |
| Dollar Tree, Inc. <sup>(a)</sup> | 3117 | 308708 |
| Target Corp.  | 7905 | 779828 |
| Walmart, Inc.  | 75989 | 7430204 |
|  |  | 16642047 |
| **Distillers & Vintners - 0.1%** |  |  |
| Brown-Forman Corp. - Class A  | 526 | 14449 |
| Brown-Forman Corp. - Class B  | 5014 | 134927 |
| Constellation Brands, Inc. - Class A  | 2613 | 425083 |
|  |  | 574459 |
| **Food Distributors - 0.1%** |  |  |
| Sysco Corp.  | 8345 | 632050 |
| **Food Retail - 0.1%** |  |  |
| Kroger Co.  | 11578 | 830490 |
| **Household Products - 1.0%** |  |  |
| Church & Dwight Co., Inc.  | 4141 | 397991 |
| Clorox Co.  | 2009 | 241221 |
| Colgate-Palmolive Co.  | 14146 | 1285871 |
| Kimberly-Clark Corp.  | 5736 | 739485 |
| Procter & Gamble Co.  | 40796 | 6499619 |
|  |  | 9164187 |
| **Packaged Foods & Meats - 0.4%** |  |  |
| General Mills, Inc.  | 9638 | 499345 |
| Hershey Co.  | 2474 | 410560 |
| Hormel Foods Corp.  | 4852 | 146773 |
| Kellanova  | 4647 | 369576 |
| Kraft Heinz Co.  | 14981 | 386809 |
| McCormick & Co., Inc.  | 4266 | 323448 |
| Mondelez International, Inc. - Class A  | 23452 | 1581603 |
| Tyson Foods, Inc. - Class A  | 4807 | 268904 |
|  |  | 3987018 |
| **Personal Care Products - 0.1%** |  |  |
| Estee Lauder Cos., Inc. - Class A  | 3677 | 297102 |
| Kenvue, Inc.  | 33398 | 699020 |
|  |  | 996122 |
| **Soft Drinks & Non-alcoholic Beverages - 1.0%** |  |  |
| Coca-Cola Co.  | 61236 | 4332447 |
| Keurig Dr Pepper, Inc.  | 19600 | 647976 |
| Monster Beverage Corp. <sup>(a)</sup> | 12573 | 787573 |
| PepsiCo, Inc.  | 23853 | 3149550 |
|  |  | 8917546 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Tobacco - 0.7%** |  |  |
| Altria Group, Inc.  | 29433 | $1725657 |
| Philip Morris International, Inc.  | 26995 | 4916599 |
|  |  | 6642256 |
| **Total Consumer Staples** |  | 48818654 |
| **<u>Energy</u> - 3.0%** |  |  |
| **Integrated Oil & Gas - 1.4%** |  |  |
| Chevron Corp.  | 28519 | 4083636 |
| Exxon Mobil Corp.  | 75527 | 8141810 |
| Occidental Petroleum Corp.  | 11702 | 491601 |
|  |  | 12717047 |
| **Oil & Gas Equipment & Services - 0.2%** |  |  |
| Baker Hughes Co.  | 17054 | 653850 |
| Halliburton Co.  | 14142 | 288214 |
| Schlumberger NV  | 24223 | 818738 |
|  |  | 1760802 |
| **Oil & Gas Exploration & Production - 0.7%** |  |  |
| ConocoPhillips  | 22387 | 2009009 |
| Coterra Energy, Inc.  | 12325 | 312809 |
| Devon Energy Corp.  | 11246 | 357735 |
| Diamondback Energy, Inc.  | 3219 | 442291 |
| EOG Resources, Inc.  | 9802 | 1172417 |
| EQT Corp.  | 10689 | 623383 |
| Expand Energy Corp.  | 3814 | 446009 |
| Hess Corp.  | 5039 | 698103 |
| Texas Pacific Land Corp.  | 310 | 327481 |
| Venture Global, Inc. - Class A  | 1185 | 18462 |
|  |  | 6407699 |
| **Oil & Gas Refining & Marketing - 0.2%** |  |  |
| Marathon Petroleum Corp.  | 5532 | 918920 |
| Phillips 66  | 7379 | 880315 |
| Valero Energy Corp.  | 5450 | 732589 |
|  |  | 2531824 |
| **Oil & Gas Storage & Transportation - 0.5%** |  |  |
| Cheniere Energy, Inc.  | 3662 | 891770 |
| Kinder Morgan, Inc.  | 33309 | 979285 |
| ONEOK, Inc.  | 10118 | 825932 |
| Targa Resources Corp.  | 3648 | 635044 |
| Williams Cos., Inc.  | 21021 | 1320329 |
|  |  | 4652360 |
| **Total Energy** |  | 28069732 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Financials</u> - 13.8%** | |  |
| **Asset Management & Custody Banks - 1.1%** |  |  |
| Ameriprise Financial, Inc.  | 1579 | $842760 |
| Ares Management Corp. - Class A  | 3293 | 570348 |
| Bank of New York Mellon Corp.  | 12564 | 1144706 |
| Blackrock, Inc.  | 2470 | 2591647 |
| Blackstone, Inc.  | 12413 | 1856737 |
| Blue Owl Capital, Inc. - Class A  | 9767 | 187624 |
| KKR & Co., Inc.  | 11638 | 1548203 |
| Northern Trust Corp.  | 3244 | 411307 |
| State Street Corp.  | 4824 | 512984 |
| T Rowe Price Group, Inc.  | 3684 | 355506 |
| TPG, Inc.  | 1340 | 70283 |
|  |  | 10092105 |
| **Commercial & Residential Mortgage Finance - 0.0%**<sup>(b)</sup> |  |  |
| Rocket Cos., Inc. - Class A  | 1373 | 19469 |
| **Consumer Finance - 0.6%** |  |  |
| American Express Co.  | 8712 | 2778954 |
| Capital One Financial Corp.  | 11227 | 2388656 |
| Synchrony Financial  | 7004 | 467447 |
|  |  | 5635057 |
| **Diversified Banks - 3.3%** |  |  |
| Bank of America Corp.  | 120673 | 5710246 |
| Citigroup, Inc.  | 31808 | 2707497 |
| Fifth Third Bancorp  | 11704 | 481386 |
| First Citizens BancShares, Inc. - Class A  | 166 | 324774 |
| JPMorgan Chase & Co.  | 48248 | 13987578 |
| PNC Financial Services Group, Inc.  | 6731 | 1254793 |
| US Bancorp  | 26810 | 1213152 |
| Wells Fargo & Co.  | 58000 | 4646960 |
|  |  | 30326386 |
| **Diversified Financial Services - 0.1%** |  |  |
| Apollo Global Management, Inc.  | 6990 | 991671 |
| Corebridge Financial, Inc.  | 4318 | 153289 |
|  |  | 1144960 |
| **Financial Exchanges & Data - 1.3%** |  |  |
| Cboe Global Markets, Inc.  | 1699 | 396224 |
| CME Group, Inc.  | 6306 | 1738060 |
| Coinbase Global, Inc. - Class A <sup>(a)</sup> | 3517 | 1232673 |
| FactSet Research Systems, Inc.  | 619 | 276866 |
| Intercontinental Exchange, Inc.  | 9907 | 1817637 |
| Moody's Corp.  | 2646 | 1327207 |
| MSCI, Inc.  | 1236 | 712851 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Financial Exchanges & Data - 1.3% (Continued)** | | |
| Nasdaq, Inc.  | 7931 | $709190 |
| S&P Global, Inc.  | 5478 | 2888495 |
| Tradeweb Markets, Inc. - Class A  | 1882 | 275525 |
|  |  | 11374728 |
| **Insurance Brokers - 0.6%** |  |  |
| Aon PLC - Class A  | 3537 | 1261860 |
| Arthur J Gallagher & Co.  | 4258 | 1363071 |
| Brown & Brown, Inc.  | 4015 | 445143 |
| Marsh & McLennan Cos., Inc.  | 8452 | 1847945 |
| Willis Towers Watson PLC  | 1636 | 501434 |
|  |  | 5419453 |
| **Investment Banking & Brokerage - 1.3%** |  |  |
| Charles Schwab Corp.  | 29848 | 2723331 |
| Goldman Sachs Group, Inc.  | 5343 | 3781508 |
| Interactive Brokers Group, Inc. - Class A  | 6336 | 351078 |
| LPL Financial Holdings, Inc.  | 1208 | 452964 |
| Morgan Stanley  | 21379 | 3011446 |
| Raymond James Financial, Inc.  | 3143 | 482042 |
| Robinhood Markets, Inc. - Class A <sup>(a)</sup> | 13008 | 1217939 |
|  |  | 12020308 |
| **Life & Health Insurance - 0.3%** |  |  |
| Aflac, Inc.  | 9781 | 1031504 |
| MetLife, Inc.  | 10258 | 824949 |
| Principal Financial Group, Inc.  | 3853 | 306044 |
| Prudential Financial, Inc.  | 6094 | 654739 |
|  |  | 2817236 |
| **Multi-Sector Holdings - 1.2%** |  |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 23012 | 11178539 |
| **Property & Casualty Insurance - 1.1%** |  |  |
| Allstate Corp.  | 4398 | 885361 |
| American International Group, Inc.  | 10739 | 919151 |
| Arch Capital Group Ltd.  | 6108 | 556133 |
| Chubb Ltd.  | 6408 | 1856526 |
| Cincinnati Financial Corp.  | 2540 | 378257 |
| Erie Indemnity Co. - Class A  | 470 | 162991 |
| Hartford Insurance Group, Inc.  | 4998 | 634096 |
| Loews Corp.  | 2875 | 263523 |
| Markel Group, Inc. <sup>(a)</sup> | 204 | 407462 |
| Progressive Corp.  | 10127 | 2702491 |
| Travelers Cos., Inc.  | 4143 | 1108418 |
| W R Berkley Corp.  | 4738 | 348101 |
|  |  | 10222510 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 0.3%** |  |  |
| Citizens Financial Group, Inc.  | 7437 | $332806 |
| Huntington Bancshares, Inc.  | 24205 | 405676 |
| M&T Bank Corp.  | 2818 | 546664 |
| Regions Financial Corp.  | 16164 | 380177 |
| Truist Financial Corp.  | 23119 | 993886 |
|  |  | 2659209 |
| **Transaction & Payment Processing Services - 2.6%** |  |  |
| Block, Inc. <sup>(a)</sup> | 9459 | 642550 |
| Corpay, Inc. <sup>(a)</sup> | 1098 | 364338 |
| Fidelity National Information Services, Inc.  | 9301 | 757194 |
| Fiserv, Inc. <sup>(a)</sup> | 9970 | 1718928 |
| Global Payments, Inc.  | 4276 | 342251 |
| Mastercard, Inc. - Class A  | 14194 | 7976176 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 17317 | 1287000 |
| Toast, Inc. - Class A <sup>(a)</sup> | 7710 | 341476 |
| Visa, Inc. - Class A  | 30032 | 10662862 |
|  |  | 24092775 |
| **Total Financials** |  | 127002735 |
| **<u>Health Care</u> - 9.4%** |  |  |
| **Biotechnology - 1.7%** |  |  |
| AbbVie, Inc.  | 30839 | 5724335 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup> | 2096 | 683485 |
| Amgen, Inc.  | 9294 | 2594978 |
| Biogen, Inc. <sup>(a)</sup> | 2443 | 306816 |
| Gilead Sciences, Inc.  | 21682 | 2403883 |
| Incyte Corp. <sup>(a)</sup> | 2888 | 196673 |
| Moderna, Inc. <sup>(a)</sup> | 5414 | 149372 |
| Natera, Inc. <sup>(a)</sup> | 2032 | 343286 |
| Regeneron Pharmaceuticals, Inc.  | 1945 | 1021125 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | 4344 | 1933949 |
|  |  | 15357902 |
| **Health Care Distributors - 0.4%** |  |  |
| Cardinal Health, Inc.  | 4070 | 683760 |
| Cencora, Inc.  | 2969 | 890255 |
| McKesson Corp.  | 2213 | 1621642 |
|  |  | 3195657 |
| **Health Care Equipment - 2.2%** |  |  |
| Abbott Laboratories  | 30490 | 4146945 |
| Baxter International, Inc.  | 8143 | 246570 |
| Becton Dickinson & Co.  | 5027 | 865901 |
| Boston Scientific Corp. <sup>(a)</sup> | 26465 | 2842606 |
| Dexcom, Inc. <sup>(a)</sup> | 6638 | 579431 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Health Care Equipment - 2.2% (Continued)** | | |
| Edwards Lifesciences Corp. <sup>(a)</sup> | 10044 | $785541 |
| GE HealthCare Technologies, Inc.  | 7868 | 582783 |
| Hologic, Inc. <sup>(a)</sup> | 3420 | 222847 |
| IDEXX Laboratories, Inc. <sup>(a)</sup> | 1323 | 709578 |
| Insulet Corp. <sup>(a)</sup> | 1517 | 476611 |
| Intuitive Surgical, Inc. <sup>(a)</sup> | 6116 | 3323496 |
| Medtronic PLC  | 22267 | 1941014 |
| ResMed, Inc.  | 2457 | 633906 |
| STERIS PLC  | 1605 | 385553 |
| Stryker Corp.  | 5929 | 2345690 |
| Zimmer Biomet Holdings, Inc.  | 4318 | 393845 |
|  |  | 20482317 |
| **Health Care Facilities - 0.1%** |  |  |
| HCA Healthcare, Inc.  | 3165 | 1212512 |
| **Health Care Services - 0.4%** |  |  |
| Cigna Group  | 4913 | 1624140 |
| CVS Health Corp.  | 21831 | 1505902 |
| Labcorp Holdings, Inc.  | 1383 | 363051 |
| Quest Diagnostics, Inc.  | 2378 | 427160 |
|  |  | 3920253 |
| **Health Care Supplies - 0.1%** |  |  |
| Align Technology, Inc. <sup>(a)</sup> | 1232 | 233255 |
| Cooper Cos., Inc. <sup>(a)</sup> | 3383 | 240734 |
|  |  | 473989 |
| **Life Sciences Tools & Services - 0.8%** |  |  |
| Agilent Technologies, Inc.  | 4915 | 580019 |
| Avantor, Inc. <sup>(a)</sup> | 11665 | 157011 |
| Danaher Corp.  | 11333 | 2238721 |
| ICON PLC <sup>(a)</sup> | 1338 | 194612 |
| Illumina, Inc. <sup>(a)</sup> | 2592 | 247303 |
| IQVIA Holdings, Inc. <sup>(a)</sup> | 3030 | 477498 |
| Mettler-Toledo International, Inc. <sup>(a)</sup> | 339 | 398230 |
| Revvity, Inc.  | 1977 | 191215 |
| Thermo Fisher Scientific, Inc.  | 6656 | 2698742 |
| Waters Corp. <sup>(a)</sup> | 966 | 337172 |
| West Pharmaceutical Services, Inc.  | 1175 | 257090 |
|  |  | 7777613 |
| **Managed Health Care - 0.8%** |  |  |
| Centene Corp. <sup>(a)</sup> | 9254 | 502307 |
| Elevance Health, Inc.  | 3925 | 1526668 |
| Humana, Inc.  | 1941 | 474536 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Managed Health Care - 0.8% (Continued)** | | |
| Molina Healthcare, Inc. <sup>(a)</sup> | 923 | $274962 |
| UnitedHealth Group, Inc.  | 15914 | 4964690 |
|  |  | 7743163 |
| **Pharmaceuticals - 2.9%** |  |  |
| Bristol-Myers Squibb Co.  | 35207 | 1629732 |
| Eli Lilly & Co.  | 14914 | 11625911 |
| Johnson & Johnson  | 41914 | 6402364 |
| Merck & Co., Inc.  | 43996 | 3482723 |
| Pfizer, Inc.  | 98009 | 2375738 |
| Royalty Pharma PLC - Class A  | 5910 | 212937 |
| Zoetis, Inc.  | 7234 | 1128142 |
|  |  | 26857547 |
| **Total Health Care** |  | 87020953 |
| **<u>Industrials</u> - 8.6%** |  |  |
| **Aerospace & Defense - 2.2%** |  |  |
| Axon Enterprise, Inc. <sup>(a)</sup> | 1178 | 975313 |
| Boeing Co. <sup>(a)</sup> | 12932 | 2709642 |
| General Dynamics Corp.  | 4216 | 1229639 |
| General Electric Co.  | 18071 | 4651295 |
| HEICO Corp.  | 688 | 225664 |
| HEICO Corp. - Class A  | 1370 | 354487 |
| Howmet Aerospace, Inc.  | 6980 | 1299187 |
| L3Harris Technologies, Inc.  | 3604 | 904027 |
| Lockheed Martin Corp.  | 3990 | 1847929 |
| Northrop Grumman Corp.  | 2515 | 1257450 |
| RTX Corp.  | 23245 | 3394235 |
| TransDigm Group, Inc.  | 975 | 1482624 |
|  |  | 20331492 |
| **Agricultural & Farm Machinery - 0.3%** |  |  |
| Deere & Co.  | 4531 | 2303968 |
| **Air Freight & Logistics - 0.3%** |  |  |
| Expeditors International of Washington, Inc.  | 2441 | 278884 |
| FedEx Corp.  | 3753 | 853095 |
| United Parcel Service, Inc. - Class B  | 12684 | 1280323 |
|  |  | 2412302 |
| **Building Products - 0.5%** |  |  |
| Builders FirstSource, Inc. <sup>(a)</sup> | 1835 | 214126 |
| Carrier Global Corp.  | 14331 | 1048886 |
| Johnson Controls International PLC  | 11741 | 1240084 |
| Lennox International, Inc.  | 522 | 299231 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Building Products - 0.5% (Continued)** | | |
| Masco Corp.  | 3333 | $214512 |
| Trane Technologies PLC  | 4067 | 1778947 |
|  |  | 4795786 |
| **Cargo Ground Transportation - 0.1%** |  |  |
| JB Hunt Transport Services, Inc.  | 1292 | 185531 |
| Old Dominion Freight Line, Inc.  | 3480 | 564804 |
|  |  | 750335 |
| **Construction & Engineering - 0.1%** |  |  |
| Quanta Services, Inc.  | 2533 | 957677 |
| **Construction Machinery & Heavy Transportation Equipment - 0.6%** |  |  |
| Caterpillar, Inc.  | 8317 | 3228743 |
| Cummins, Inc.  | 2406 | 787965 |
| PACCAR, Inc.  | 9877 | 938908 |
| Westinghouse Air Brake Technologies Corp.  | 2798 | 585761 |
|  |  | 5541377 |
| **Data Processing & Outsourced Services - 0.1%** |  |  |
| Broadridge Financial Solutions, Inc.  | 1892 | 459813 |
| SS&C Technologies Holdings, Inc.  | 3661 | 303131 |
|  |  | 762944 |
| **Diversified Support Services - 0.2%** |  |  |
| Cintas Corp.  | 5900 | 1314933 |
| Copart, Inc. <sup>(a)</sup> | 15290 | 750280 |
|  |  | 2065213 |
| **Electrical Components & Equipment - 0.7%** |  |  |
| AMETEK, Inc.  | 4004 | 724564 |
| Eaton Corp. PLC  | 6945 | 2479296 |
| Emerson Electric Co.  | 10531 | 1404098 |
| Hubbell, Inc.  | 872 | 356134 |
| Rockwell Automation, Inc.  | 1838 | 610528 |
| Vertiv Holdings Co. - Class A  | 6300 | 808983 |
|  |  | 6383603 |
| **Environmental & Facilities Services - 0.3%** |  |  |
| Republic Services, Inc.  | 3465 | 854503 |
| Rollins, Inc.  | 4933 | 278320 |
| Veralto Corp.  | 4023 | 406122 |
| Waste Management, Inc.  | 6985 | 1598308 |
|  |  | 3137253 |
| **Heavy Electrical Equipment - 0.3%** |  |  |
| GE Vernova, Inc.  | 4795 | 2537274 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Human Resource & Employment Services - 0.3%** |  |  |
| Automatic Data Processing, Inc.  | 7064 | $2178538 |
| Paychex, Inc.  | 5557 | 808321 |
|  |  | 2986859 |
| **Industrial Conglomerates - 0.4%** |  |  |
| 3M Co.  | 9484 | 1443844 |
| Honeywell International, Inc.  | 11207 | 2609886 |
|  |  | 4053730 |
| **Industrial Machinery & Supplies & Components - 0.6%** |  |  |
| Dover Corp.  | 2385 | 437004 |
| Fortive Corp.  | 5940 | 309652 |
| IDEX Corp.  | 1139 | 199974 |
| Illinois Tool Works, Inc.  | 4864 | 1202624 |
| Ingersoll Rand, Inc.  | 7008 | 582925 |
| Otis Worldwide Corp.  | 7060 | 699081 |
| Parker-Hannifin Corp.  | 2235 | 1561081 |
| Stanley Black & Decker, Inc.  | 2530 | 171408 |
| Symbotic, Inc. <sup>(a)</sup> | 305 | 11849 |
| Xylem, Inc.  | 4101 | 530505 |
|  |  | 5706103 |
| **Passenger Airlines - 0.0%**<sup>(b)</sup> |  |  |
| Delta Air Lines, Inc.  | 2619 | 128802 |
| Southwest Airlines Co.  | 2491 | 80808 |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 1341 | 106784 |
|  |  | 316394 |
| **Passenger Ground Transportation - 0.4%** |  |  |
| Grab Holdings Ltd. - Class A <sup>(a)</sup> | 47439 | 238618 |
| Uber Technologies, Inc. <sup>(a)</sup> | 36573 | 3412261 |
|  |  | 3650879 |
| **Rail Transportation - 0.5%** |  |  |
| CSX Corp.  | 33651 | 1098032 |
| Norfolk Southern Corp.  | 4219 | 1079938 |
| Union Pacific Corp.  | 10325 | 2375576 |
|  |  | 4553546 |
| **Research & Consulting Services - 0.3%** |  |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 122 | 2871 |
| Booz Allen Hamilton Holding Corp.  | 2047 | 213154 |
| Equifax, Inc.  | 2011 | 521593 |
| Jacobs Solutions, Inc.  | 1999 | 262769 |
| Leidos Holdings, Inc.  | 2350 | 370736 |
| TransUnion  | 3315 | 291720 |
| Verisk Analytics, Inc.  | 2435 | 758502 |
|  |  | 2421345 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Trading Companies & Distributors - 0.4%** |  |  |
| Fastenal Co.  | 21914 | $920388 |
| Ferguson Enterprises, Inc.  | 3380 | 735995 |
| United Rentals, Inc.  | 1060 | 798604 |
| Watsco, Inc.  | 566 | 249957 |
| WW Grainger, Inc.  | 825 | 858198 |
|  |  | 3563142 |
| **Total Industrials** |  | 79231222 |
| **<u>Information Technology</u> - 33.4%**<sup>(c)</sup> |  |  |
| **Application Software - 3.3%** |  |  |
| Adobe, Inc. <sup>(a)</sup> | 7539 | 2916688 |
| ANSYS, Inc. <sup>(a)</sup> | 1417 | 497679 |
| AppLovin Corp. - Class A <sup>(a)</sup> | 4353 | 1523898 |
| Atlassian Corp. - Class A <sup>(a)</sup> | 2760 | 560528 |
| Autodesk, Inc. <sup>(a)</sup> | 3561 | 1102379 |
| Bentley Systems, Inc. - Class B  | 3300 | 178101 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | 4674 | 1440293 |
| Circle Internet Group, Inc. <sup>(a)</sup> | 594 | 107686 |
| Datadog, Inc. - Class A <sup>(a)</sup> | 5091 | 683874 |
| Fair Isaac Corp. <sup>(a)</sup> | 437 | 798819 |
| HubSpot, Inc. <sup>(a)</sup> | 810 | 450870 |
| Intuit, Inc.  | 4752 | 3742818 |
| MicroStrategy, Inc. - Class A <sup>(a)</sup> | 4359 | 1762039 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 38085 | 5191747 |
| PTC, Inc. <sup>(a)</sup> | 1844 | 317795 |
| Roper Technologies, Inc.  | 1976 | 1120076 |
| Salesforce, Inc.  | 16293 | 4442938 |
| Samsara, Inc. - Class A <sup>(a)</sup> | 6047 | 240550 |
| Synopsys, Inc. <sup>(a)</sup> | 2631 | 1348861 |
| Tyler Technologies, Inc. <sup>(a)</sup> | 856 | 507471 |
| Workday, Inc. - Class A <sup>(a)</sup> | 3576 | 858240 |
| Zoom Communications, Inc. - Class A <sup>(a)</sup> | 4049 | 315741 |
|  |  | 30109091 |
| **Communications Equipment - 0.8%** |  |  |
| Arista Networks, Inc. <sup>(a)</sup> | 17091 | 1748580 |
| Cisco Systems, Inc.  | 63082 | 4376629 |
| Motorola Solutions, Inc.  | 2879 | 1210505 |
|  |  | 7335714 |
| **Electronic Components - 0.3%** |  |  |
| Amphenol Corp. - Class A  | 20921 | 2065949 |
| Corning, Inc.  | 13473 | 708545 |
|  |  | 2774494 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Electronic Equipment & Instrum - 0.0%**<sup>(b)</sup> |  |  |
| Ralliant Corp. <sup>(a)</sup> | 1980 | $96010 |
| **Electronic Equipment & Instruments - 0.2%** |  |  |
| Keysight Technologies, Inc. <sup>(a)</sup> | 2951 | 483551 |
| Teledyne Technologies, Inc. <sup>(a)</sup> | 929 | 475936 |
| Trimble, Inc. <sup>(a)</sup> | 4141 | 314633 |
| Zebra Technologies Corp. - Class A <sup>(a)</sup> | 749 | 230962 |
|  |  | 1505082 |
| **Electronic Manufacturing Services - 0.1%** |  |  |
| TE Connectivity PLC  | 5093 | 859036 |
| **Internet Services & Infrastructure - 0.4%** |  |  |
| Akamai Technologies, Inc. <sup>(a)</sup> | 2481 | 197884 |
| Cloudflare, Inc. - Class A <sup>(a)</sup> | 4966 | 972492 |
| CoreWeave, Inc. - Class A <sup>(a)</sup> | 558 | 90987 |
| GoDaddy, Inc. - Class A <sup>(a)</sup> | 2413 | 434485 |
| MongoDB, Inc. <sup>(a)</sup> | 1123 | 235819 |
| Okta, Inc. <sup>(a)</sup> | 2559 | 255823 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 4893 | 1094907 |
| Twilio, Inc. - Class A <sup>(a)</sup> | 2420 | 300951 |
| VeriSign, Inc.  | 1335 | 385548 |
|  |  | 3968896 |
| **IT Consulting & Other Services - 1.0%** |  |  |
| Accenture PLC - Class A  | 10887 | 3254015 |
| Cognizant Technology Solutions Corp. - Class A  | 8513 | 664269 |
| EPAM Systems, Inc. <sup>(a)</sup> | 829 | 146584 |
| Gartner, Inc. <sup>(a)</sup> | 1225 | 495170 |
| International Business Machines Corp.  | 15837 | 4668431 |
|  |  | 9228469 |
| **Semiconductor Materials & Equipment - 0.8%** |  |  |
| Applied Materials, Inc.  | 14239 | 2606734 |
| Entegris, Inc.  | 2494 | 201141 |
| KLA Corp.  | 2338 | 2094240 |
| Lam Research Corp.  | 22295 | 2170195 |
| Teradyne, Inc.  | 3766 | 338639 |
|  |  | 7410949 |
| **Semiconductors - 11.7%** |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 28924 | 4104316 |
| Analog Devices, Inc.  | 8497 | 2022456 |
| Broadcom, Inc.  | 80830 | 22280789 |
| First Solar, Inc. <sup>(a)</sup> | 1664 | 275459 |
| GlobalFoundries, Inc. <sup>(a)</sup> | 1715 | 65513 |
| Intel Corp.  | 68436 | 1532966 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Semiconductors - 11.7% (Continued)** | | |
| Marvell Technology, Inc.  | 14976 | $1159142 |
| Microchip Technology, Inc.  | 9247 | 650711 |
| Micron Technology, Inc.  | 19332 | 2382669 |
| Monolithic Power Systems, Inc.  | 768 | 561700 |
| NVIDIA Corp.  | 410726 | 64890601 |
| NXP Semiconductors NV  | 4118 | 899742 |
| ON Semiconductor Corp. <sup>(a)</sup> | 7277 | 381388 |
| Qualcomm, Inc.  | 19116 | 3044414 |
| Skyworks Solutions, Inc.  | 2606 | 194199 |
| Texas Instruments, Inc.  | 15768 | 3273752 |
|  |  | 107719817 |
| **Systems Software - 8.7%** |  |  |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 4173 | 2125351 |
| Fortinet, Inc. <sup>(a)</sup> | 10922 | 1154674 |
| Microsoft Corp.  | 130161 | 64743383 |
| Oracle Corp.  | 28642 | 6262000 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 11184 | 2288694 |
| ServiceNow, Inc. <sup>(a)</sup> | 3638 | 3740155 |
| Zscaler, Inc. <sup>(a)</sup> | 1554 | 487863 |
|  |  | 80802120 |
| **Technology Distributors - 0.0%**<sup>(b)</sup> |  |  |
| CDW Corp.  | 2324 | 415043 |
| **Technology Hardware, Storage & Peripherals - 6.1%** |  |  |
| Apple, Inc.  | 257862 | 52905546 |
| Dell Technologies, Inc. - Class C  | 5416 | 664002 |
| Hewlett Packard Enterprise Co.  | 21961 | 449102 |
| HP, Inc.  | 16302 | 398747 |
| NetApp, Inc.  | 3456 | 368237 |
| Sandisk Corp. <sup>(a)</sup> | 1640 | 74374 |
| Seagate Technology Holdings PLC  | 3588 | 517856 |
| Super Micro Computer, Inc. <sup>(a)</sup> | 8491 | 416144 |
| Western Digital Corp.  | 5915 | 378501 |
|  |  | 56172509 |
| **Total Information Technology** |  | 308397230 |
| **<u>Materials</u> - 1.8%** |  |  |
| **Commodity Chemicals - 0.1%** |  |  |
| Dow, Inc.  | 11973 | 317045 |
| LyondellBasell Industries NV - Class A  | 4371 | 252906 |
| Westlake Corp.  | 1413 | 107289 |
|  |  | 677240 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Construction Materials - 0.3%** |  |  |
| CRH PLC  | 11649 | $1069378 |
| Martin Marietta Materials, Inc.  | 990 | 543471 |
| Vulcan Materials Co.  | 2133 | 556329 |
|  |  | 2169178 |
| **Copper - 0.1%** |  |  |
| Freeport-McMoRan, Inc.  | 24252 | 1051324 |
| **Fertilizers & Agricultural Chemicals - 0.1%** |  |  |
| CF Industries Holdings, Inc.  | 2935 | 270020 |
| Corteva, Inc.  | 11946 | 890335 |
|  |  | 1160355 |
| **Gold - 0.1%** |  |  |
| Newmont Corp.  | 19521 | 1137294 |
| **Industrial Gases - 0.5%** |  |  |
| Air Products and Chemicals, Inc.  | 3765 | 1061956 |
| Linde PLC  | 8161 | 3828978 |
|  |  | 4890934 |
| **Metal, Glass & Plastic Containers - 0.0%**<sup>(b)</sup> |  |  |
| Ball Corp.  | 5149 | 288807 |
| **Paper & Plastic Packaging Products & Materials - 0.1%** |  |  |
| Amcor PLC  | 37073 | 340701 |
| Packaging Corp. of America  | 1441 | 271556 |
| Smurfit WestRock PLC  | 8524 | 367811 |
|  |  | 980068 |
| **Specialty Chemicals - 0.4%** |  |  |
| DuPont de Nemours, Inc.  | 6352 | 435684 |
| Ecolab, Inc.  | 4285 | 1154550 |
| International Flavors & Fragrances, Inc.  | 4319 | 317662 |
| PPG Industries, Inc.  | 3929 | 446924 |
| Sherwin-Williams Co.  | 3935 | 1351122 |
|  |  | 3705942 |
| **Steel - 0.1%** |  |  |
| Nucor Corp.  | 3957 | 512590 |
| Steel Dynamics, Inc.  | 2516 | 322073 |
|  |  | 834663 |
| **Total Materials** |  | 16895805 |
| **<u>Real Estate</u> - 0.2%** |  |  |
| **Real Estate Services - 0.2%** |  |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | 5193 | 727643 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.1% (CONTINUED)** | **Shares** | **Value**  |
| **Real Estate Services - 0.2% (Continued)** | | |
| CoStar Group, Inc. <sup>(a)</sup> | 7006 | $563282 |
| **Total Real Estate** |  | 1290925 |
| **<u>Utilities</u> - 2.2%** |  |  |
| **Electric Utilities - 1.4%** |  |  |
| Alliant Energy Corp.  | 4324 | 261472 |
| American Electric Power Co., Inc.  | 9259 | 960714 |
| Constellation Energy Corp.  | 5620 | 1813911 |
| Duke Energy Corp.  | 13297 | 1569046 |
| Edison International  | 6609 | 341024 |
| Entergy Corp.  | 7430 | 617582 |
| Evergy, Inc.  | 3806 | 262348 |
| Eversource Energy  | 6225 | 396034 |
| Exelon Corp.  | 16931 | 735144 |
| FirstEnergy Corp.  | 9404 | 378605 |
| NextEra Energy, Inc.  | 35790 | 2484542 |
| PG&E Corp.  | 38029 | 530124 |
| PPL Corp.  | 12295 | 416678 |
| Southern Co.  | 18751 | 1721904 |
| Xcel Energy, Inc.  | 10300 | 701430 |
|  |  | 13190558 |
| **Gas Utilities - 0.0%**<sup>(b)</sup> |  |  |
| Atmos Energy Corp.  | 2679 | 412861 |
| **Independent Power Producers & Energy Traders - 0.1%** |  |  |
| Vistra Corp.  | 5695 | 1103748 |
| **Multi-Utilities - 0.6%** |  |  |
| Ameren Corp.  | 4645 | 446106 |
| CenterPoint Energy, Inc.  | 11204 | 411635 |
| CMS Energy Corp.  | 4898 | 339333 |
| Consolidated Edison, Inc.  | 5942 | 596280 |
| Dominion Energy, Inc.  | 14313 | 808971 |
| DTE Energy Co.  | 3118 | 413010 |
| Public Service Enterprise Group, Inc.  | 8567 | 721170 |
| Sempra  | 10935 | 828545 |
| WEC Energy Group, Inc.  | 5454 | 568307 |
|  |  | 5133357 |
| **Water Utilities - 0.1%** |  |  |
| American Water Works Co., Inc.  | 3327 | 462819 |
| **Total Utilities** |  | 20303343 |
| **TOTAL COMMON STOCKS** (Cost $700,382,566) |  | 905682219 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 1.8%** | **Shares** | **Value**  |
| **<u>Real Estate</u> - 1.8%** | |  |
| **Data Center REITs - 0.3%** |  |  |
| Digital Realty Trust, Inc.  | 5722 | $997516 |
| Equinix, Inc.  | 1734 | 1379345 |
|  |  | 2376861 |
| **Health Care REITs - 0.3%** |  |  |
| Alexandria Real Estate Equities, Inc.  | 2747 | 199515 |
| Ventas, Inc.  | 6966 | 439903 |
| Welltower, Inc.  | 11447 | 1759747 |
|  |  | 2399165 |
| **Industrial REITs - 0.2%** |  |  |
| Lineage, Inc.  | 824 | 35860 |
| Prologis, Inc.  | 15982 | 1680028 |
|  |  | 1715888 |
| **Multi-Family Residential REITs - 0.2%** |  |  |
| AvalonBay Communities, Inc.  | 2388 | 485958 |
| Equity Residential  | 6319 | 426469 |
| Essex Property Trust, Inc.  | 974 | 276032 |
| Mid-America Apartment Communities, Inc.  | 1893 | 280183 |
| UDR, Inc.  | 5324 | 217379 |
|  |  | 1686021 |
| **Other Specialized REITs - 0.1%** |  |  |
| Iron Mountain, Inc.  | 4890 | 501567 |
| VICI Properties, Inc.  | 17356 | 565806 |
|  |  | 1067373 |
| **Retail REITs - 0.2%** |  |  |
| Realty Income Corp.  | 14840 | 854932 |
| Simon Property Group, Inc.  | 5376 | 864246 |
|  |  | 1719178 |
| **Self-Storage REITs - 0.1%** |  |  |
| Extra Space Storage, Inc.  | 3574 | 526951 |
| Public Storage  | 2727 | 800156 |
|  |  | 1327107 |
| **Single-Family Residential REITs - 0.1%** |  |  |
| Invitation Homes, Inc.  | 9698 | 318094 |
| Sun Communities, Inc.  | 2043 | 258419 |
|  |  | 576513 |
| **Telecom Tower REITs - 0.3%** |  |  |
| American Tower Corp.  | 8180 | 1807944 |
| Crown Castle, Inc.  | 7314 | 751367 |
| SBA Communications Corp.  | 1739 | 408387 |
|  |  | 2967698 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE 500 ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 1.8% (CONTINUED)** | **Shares** | **Value**  |
| **Timber REITs - 0.0%**<sup>(b)</sup> |  |  |
| Weyerhaeuser Co.  | 12296 | $315884 |
| **Total Real Estate** |  | 16151688 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $15,183,488) |  | 16151688 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Funds - 0.1%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(d)</sup> | 1365241 | 1365241 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $1,365,241) |  | 1365241 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $716,931,295**)** |  | $923199148 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(b)</sup> |  | 306080 |
| **TOTAL NET ASSETS - 100.0%** |  | $923505228 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) 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.

(d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6%** | **Shares** | **Value**  |
| **Brazil - 4.0%** | |  |
| Ambev SA  | 89867 | $219825 |
| B3 SA - Brasil Bolsa Balcao  | 111253 | 297734 |
| Banco BTG Pactual SA  | 27995 | 217701 |
| Banco do Brasil SA  | 58183 | 237418 |
| Banco Santander Brasil SA  | 79789 | 436313 |
| Centrais Eletricas Brasileiras SA  | 24989 | 185310 |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 10227 | 225148 |
| Embraer SA  | 14840 | 210810 |
| Equatorial Energia SA  | 24029 | 160588 |
| Localiza Rent a Car SA  | 12459 | 93538 |
| Petroleo Brasileiro SA - Petrobras  | 78734 | 492713 |
| Rede D'Or Sao Luiz SA <sup>(a)</sup> | 23906 | 155718 |
| Suzano SA  | 10326 | 97423 |
| Vale SA  | 61589 | 597401 |
| WEG SA  | 41868 | 329359 |
|  |  | 3956999 |
| **Chile - 0.2%** |  |  |
| Latam Airlines Group SA <sup>(b)</sup> | 9256384 | 187388 |
| **Czech Republic - 0.2%** |  |  |
| CEZ AS  | 3295 | 193553 |
| **Greece - 0.2%** |  |  |
| National Bank of Greece SA  | 18683 | 238343 |
| **Hungary - 0.6%** |  |  |
| MOL Hungarian Oil & Gas PLC  | 17329 | 150889 |
| OTP Bank Nyrt  | 5408 | 431997 |
|  |  | 582886 |
| **India - 29.8%**<sup>(c)</sup> |  |  |
| Adani Enterprises Ltd.  | 5878 | 179534 |
| Adani Ports & Special Economic Zone Ltd.  | 16270 | 275125 |
| Adani Power Ltd. <sup>(b)</sup> | 25783 | 176101 |
| Apollo Hospitals Enterprise Ltd.  | 2072 | 174970 |
| Asian Paints Ltd.  | 9461 | 258269 |
| Avenue Supermarts Ltd. <sup>(a)(b)</sup> | 5103 | 260166 |
| Axis Bank Ltd.  | 58603 | 819458 |
| Bajaj Auto Ltd.  | 2359 | 230399 |
| Bajaj Finance Ltd.  | 53110 | 579962 |
| Bajaj Finserv Ltd.  | 10757 | 257887 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **India - 29.8%**<sup>(c)</sup> **(Continued)**  | | |
| Bajaj Holdings & Investment Ltd.  | 978 | $163977 |
| Bharat Electronics Ltd.  | 74398 | 365657 |
| Bharat Petroleum Corp. Ltd.  | 44363 | 171715 |
| Bharti Airtel Ltd.  | 50486 | 1183030 |
| Britannia Industries Ltd.  | 2230 | 152142 |
| BSE Ltd.  | 6166 | 199166 |
| Cholamandalam Investment and Finance Co. Ltd.  | 9383 | 178119 |
| Cipla Ltd.  | 11977 | 210310 |
| Coal India Ltd.  | 37568 | 171698 |
| Divi's Laboratories Ltd.  | 2329 | 184927 |
| Dr Reddy's Laboratories Ltd.  | 11917 | 178324 |
| Eicher Motors Ltd.  | 2757 | 181844 |
| Eternal Ltd. <sup>(b)</sup> | 149562 | 460667 |
| Grasim Industries Ltd.  | 7309 | 242426 |
| HCL Technologies Ltd.  | 20077 | 404677 |
| HDFC Bank Ltd.  | 149136 | 3480594 |
| HDFC Life Insurance Co. Ltd. <sup>(a)</sup> | 21313 | 202369 |
| Hindalco Industries Ltd.  | 27741 | 224118 |
| Hindustan Aeronautics Ltd.  | 3700 | 210101 |
| Hindustan Unilever Ltd.  | 16385 | 438398 |
| ICICI Bank Ltd.  | 138100 | 2328183 |
| Indian Hotels Co. Ltd.  | 18722 | 165979 |
| Info Edge India Ltd.  | 8195 | 142218 |
| Infosys Ltd.  | 65672 | 1226602 |
| InterGlobe Aviation Ltd. <sup>(a)(b)</sup> | 3669 | 255688 |
| ITC Ltd.  | 148025 | 718808 |
| Jio Financial Services Ltd. <sup>(b)</sup> | 65477 | 249471 |
| JSW Steel Ltd.  | 17834 | 212215 |
| Kotak Mahindra Bank Ltd.  | 27828 | 702028 |
| Larsen & Toubro Ltd.  | 20400 | 872947 |
| Mahindra & Mahindra Ltd.  | 18226 | 676504 |
| Maruti Suzuki India Ltd.  | 2559 | 370005 |
| Max Healthcare Institute Ltd.  | 15005 | 223255 |
| Nestle India Ltd.  | 6773 | 194700 |
| NTPC Ltd.  | 87711 | 342519 |
| Oil & Natural Gas Corp. Ltd.  | 58405 | 166314 |
| PB Fintech Ltd. <sup>(b)</sup> | 7504 | 159591 |
| Persistent Systems Ltd.  | 2175 | 153221 |
| Power Finance Corp. Ltd.  | 30649 | 152745 |
| Power Grid Corp. of India Ltd.  | 87191 | 304904 |
| REC Ltd.  | 24733 | 116051 |
| Reliance Industries Ltd.  | 126612 | 2215415 |
| SBI Life Insurance Co. Ltd. <sup>(a)</sup> | 8729 | 187110 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **India - 29.8%**<sup>(c)</sup> **(Continued)**  | | |
| Shree Cement Ltd.  | 592 | $214200 |
| Shriram Finance Ltd.  | 26938 | 222028 |
| State Bank of India  | 63986 | 612068 |
| Sun Pharmaceutical Industries Ltd.  | 21564 | 421348 |
| Suzlon Energy Ltd. <sup>(b)</sup> | 236928 | 187089 |
| Tata Consultancy Services Ltd.  | 18414 | 743345 |
| Tata Consumer Products Ltd.  | 12142 | 155584 |
| Tata Motors Ltd.  | 41984 | 336812 |
| Tata Power Co. Ltd.  | 33429 | 158043 |
| Tata Steel Ltd.  | 159054 | 296297 |
| Tech Mahindra Ltd.  | 11590 | 227989 |
| Titan Co. Ltd.  | 7593 | 326722 |
| Trent Ltd.  | 4303 | 311962 |
| TVS Motor Co. Ltd.  | 4703 | 160020 |
| UltraTech Cement Ltd.  | 2443 | 344487 |
| Varun Beverages Ltd.  | 29107 | 155293 |
| Vedanta Ltd.  | 30457 | 163667 |
| Wipro Ltd.  | 57102 | 177099 |
|  |  | 29566656 |
| **Indonesia - 1.9%** |  |  |
| Amman Mineral Internasional PT <sup>(b)</sup> | 283760 | 147691 |
| Bank Central Asia Tbk PT  | 1112128 | 594254 |
| Bank Mandiri Persero Tbk PT  | 773738 | 232574 |
| Bank Rakyat Indonesia Persero Tbk PT  | 1493677 | 344093 |
| Barito Renewables Energy Tbk PT  | 352170 | 127441 |
| Chandra Asri Pacific Tbk PT  | 478532 | 291069 |
| Telkom Indonesia Persero Tbk PT  | 1046878 | 179262 |
|  |  | 1916384 |
| **Kuwait - 1.2%** |  |  |
| Kuwait Finance House KSCP  | 255736 | 671249 |
| National Bank of Kuwait SAKP  | 174375 | 570122 |
|  |  | 1241371 |
| **Malaysia - 1.1%** |  |  |
| CIMB Group Holdings Bhd  | 146078 | 235570 |
| Malayan Banking Bhd  | 136308 | 314022 |
| Public Bank Bhd  | 282224 | 288893 |
| Tenaga Nasional Bhd  | 67521 | 230603 |
|  |  | 1069088 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **Mexico - 3.3%** | |  |
| America Movil SAB de CV <sup>(b)</sup> | 589116 | $527440 |
| Cemex SAB de CV  | 306476 | 212162 |
| Fomento Economico Mexicano SAB de CV  | 44485 | 457640 |
| Grupo Aeroportuario del Pacifico SAB de CV - Class B  | 7970 | 182451 |
| Grupo Comercial Chedraui SAB de CV  | 21810 | 172706 |
| Grupo Financiero Banorte SAB de CV  | 60603 | 556116 |
| Grupo Mexico SAB de CV - Class B  | 134832 | 813756 |
| Wal-Mart de Mexico SAB de CV  | 108204 | 357979 |
|  |  | 3280250 |
| **Peru - 0.3%** |  |  |
| Credicorp Ltd.  | 1119 | 250119 |
| **Philippines - 0.4%** |  |  |
| International Container Terminal Services, Inc.  | 21874 | 159599 |
| SM Investments Corp.  | 12553 | 194323 |
|  |  | 353922 |
| **Poland - 1.5%** |  |  |
| Allegro.eu SA <sup>(a)(b)</sup> | 22706 | 217903 |
| Bank Polska Kasa Opieki SA  | 4498 | 230868 |
| Dino Polska SA <sup>(a)(b)</sup> | 1088 | 158777 |
| ORLEN SA  | 12373 | 281833 |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 17874 | 373116 |
| Powszechny Zaklad Ubezpieczen SA  | 12774 | 223275 |
|  |  | 1485772 |
| **Qatar - 0.8%** |  |  |
| Industries Qatar QSC  | 41473 | 140673 |
| Qatar Islamic Bank QPSC  | 38208 | 232438 |
| Qatar National Bank QPSC  | 94514 | 450376 |
|  |  | 823487 |
| **Saudi Arabia - 7.1%** |  |  |
| ACWA Power Co. <sup>(b)</sup> | 4599 | 313917 |
| Al Rajhi Bank  | 83512 | 2106449 |
| Alinma Bank  | 47712 | 341191 |
| Almarai Co. JSC  | 15830 | 213993 |
| Banque Saudi Fransi  | 39946 | 190224 |
| Dr Sulaiman Al Habib Medical Services Group Co.  | 2323 | 167977 |
| Elm Co.  | 580 | 154878 |
| Etihad Etisalat Co.  | 12458 | 196976 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **Saudi Arabia - 7.1% (Continued)** | | |
| Riyad Bank  | 37603 | $288151 |
| SABIC Agri-Nutrients Co.  | 5333 | 152432 |
| Saudi Arabian Mining Co. <sup>(b)</sup> | 27978 | 399846 |
| Saudi Arabian Oil Co. <sup>(a)</sup> | 130903 | 848836 |
| Saudi Awwal Bank  | 22427 | 201517 |
| Saudi Basic Industries Corp.  | 19100 | 278314 |
| Saudi National Bank  | 80353 | 773857 |
| Saudi Telecom Co.  | 40355 | 457726 |
|  |  | 7086284 |
| **South Africa - 4.2%** |  |  |
| Absa Group Ltd.  | 17072 | 169720 |
| Bid Corp. Ltd.  | 7106 | 187619 |
| Capitec Bank Holdings Ltd.  | 1868 | 374677 |
| Discovery Ltd.  | 12646 | 153434 |
| FirstRand Ltd.  | 110548 | 472633 |
| Gold Fields Ltd.  | 18579 | 436336 |
| Impala Platinum Holdings Ltd. <sup>(b)</sup> | 20075 | 180217 |
| MTN Group Ltd.  | 35527 | 282631 |
| Naspers Ltd.  | 3243 | 1010316 |
| Sanlam Ltd.  | 38320 | 191927 |
| Shoprite Holdings Ltd.  | 10987 | 171876 |
| Standard Bank Group Ltd.  | 27128 | 348651 |
| Valterra Platinum Ltd.  | 4321 | 192893 |
|  |  | 4172930 |
| **South Korea - 13.6%** |  |  |
| Alteogen, Inc. <sup>(b)</sup> | 639 | 176132 |
| Celltrion, Inc.  | 2799 | 330964 |
| Doosan Enerbility Co. Ltd. <sup>(b)</sup> | 8549 | 433278 |
| Hana Financial Group, Inc.  | 5367 | 343192 |
| Hanwha Aerospace Co. Ltd.  | 598 | 375744 |
| HD Hyundai Electric Co. Ltd.  | 426 | 160034 |
| HD Korea Shipbuilding & Offshore Engineering Co. Ltd.  | 895 | 242716 |
| Hyundai Mobis Co. Ltd.  | 1137 | 241789 |
| Hyundai Motor Co.  | 2602 | 392344 |
| Kakao Corp.  | 5934 | 263812 |
| KB Financial Group, Inc.  | 6979 | 573482 |
| Kia Corp.  | 4466 | 320655 |
| Krafton, Inc. <sup>(b)</sup> | 636 | 171064 |
| KT&G Corp.  | 1643 | 155462 |
| LG Chem Ltd.  | 864 | 135400 |
| Meritz Financial Group, Inc.  | 794 | 66186 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **South Korea - 13.6% (Continued)** | | |
| NAVER Corp.  | 2461 | $478670 |
| POSCO Holdings, Inc.  | 1413 | 273261 |
| Samsung Biologics Co. Ltd. <sup>(a)(b)</sup> | 283 | 208014 |
| Samsung C&T Corp.  | 1421 | 169939 |
| Samsung Electronics Co. Ltd.  | 104360 | 4624132 |
| Samsung Fire & Marine Insurance Co. Ltd.  | 626 | 201307 |
| Samsung Life Insurance Co. Ltd.  | 1366 | 128948 |
| Samsung SDI Co. Ltd.  | 1146 | 146731 |
| Shinhan Financial Group Co. Ltd.  | 8883 | 404132 |
| SK Hynix, Inc.  | 10481 | 2267673 |
| SK Square Co. Ltd. <sup>(b)</sup> | 1785 | 242038 |
|  |  | 13527099 |
| **Taiwan - 22.6%** |  |  |
| Accton Technology Corp.  | 9356 | 233804 |
| Alchip Technologies Ltd.  | 1365 | 144621 |
| ASE Technology Holding Co. Ltd.  | 60983 | 307921 |
| Asia Vital Components Co. Ltd.  | 4670 | 118780 |
| Asustek Computer, Inc.  | 12026 | 265122 |
| Cathay Financial Holding Co. Ltd.  | 157688 | 338998 |
| Chailease Holding Co. Ltd.  | 28828 | 124837 |
| China Steel Corp.  | 218841 | 140840 |
| Chunghwa Telecom Co. Ltd.  | 78874 | 364507 |
| CTBC Financial Holding Co. Ltd.  | 311087 | 465374 |
| Delta Electronics, Inc.  | 33613 | 475222 |
| E.Sun Financial Holding Co. Ltd.  | 251800 | 283159 |
| Evergreen Marine Corp. Taiwan Ltd.  | 33397 | 227509 |
| Far EasTone Telecommunications Co. Ltd.  | 40401 | 123919 |
| Fubon Financial Holding Co. Ltd.  | 141464 | 422765 |
| Hon Hai Precision Industry Co. Ltd.  | 216837 | 1195083 |
| Hua Nan Financial Holdings Co. Ltd.  | 180633 | 168192 |
| International Games System Co. Ltd.  | 4830 | 141864 |
| KGI Financial Holding Co. Ltd.  | 308757 | 158015 |
| Largan Precision Co. Ltd.  | 1480 | 120581 |
| Lite-On Technology Corp.  | 41100 | 155469 |
| MediaTek, Inc.  | 25514 | 1091760 |
| Mega Financial Holding Co. Ltd.  | 205318 | 288522 |
| Novatek Microelectronics Corp.  | 10489 | 195690 |
| Quanta Computer, Inc.  | 49549 | 465603 |
| Realtek Semiconductor Corp.  | 8985 | 174397 |
| Taiwan Mobile Co. Ltd.  | 44905 | 176779 |
| Taiwan Semiconductor Manufacturing Co. Ltd.  | 352138 | 12777841 |
| Uni-President Enterprises Corp.  | 85867 | 238095 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 97.6% (CONTINUED)** | **Shares** | **Value**  |
| **Taiwan - 22.6% (Continued)** | | |
| United Microelectronics Corp.  | 216159 | $327065 |
| Wistron Corp.  | 51278 | 215033 |
| Wiwynn Corp.  | 1787 | 154769 |
| Yageo Corp.  | 8020 | 133154 |
| Yuanta Financial Holding Co. Ltd.  | 229407 | 268186 |
|  |  | 22483476 |
| **Thailand - 1.8%** |  |  |
| Advanced Info Service PCL  | 23835 | 203826 |
| Bangkok Dusit Medical Services PCL  | 236892 | 151570 |
| CP ALL PCL  | 121542 | 164505 |
| Delta Electronics Thailand PCL  | 100407 | 296507 |
| Gulf Development PCL <sup>(b)</sup> | 220441 | 262763 |
| Kasikornbank PCL  | 46921 | 221552 |
| PTT PCL  | 279300 | 257746 |
| SCB X PCL  | 51113 | 184743 |
|  |  | 1743212 |
| **United Arab Emirates - 2.1%** |  |  |
| Abu Dhabi Islamic Bank PJSC  | 47642 | 278904 |
| Aldar Properties PJSC  | 82490 | 200351 |
| Dubai Electricity & Water Authority PJSC  | 201507 | 154727 |
| Dubai Islamic Bank PJSC  | 110792 | 273616 |
| Emaar Properties PJSC  | 145906 | 540304 |
| Emirates NBD Bank PJSC  | 52228 | 324239 |
| Emirates Telecommunications Group Co. PJSC  | 73925 | 354267 |
|  |  | 2126408 |
| **United Kingdom - 0.5%** |  |  |
| Anglogold Ashanti PLC  | 10404 | 470667 |
| **United States - 0.2%** |  |  |
| Southern Copper Corp.  | 1905 | 192696 |
| **TOTAL COMMON STOCKS** (Cost $76,381,029) |  | 96948990 |
| **PREFERRED STOCKS - 2.5%** |  |  |
| **Brazil - 1.9%** |  |  |
| Banco Bradesco SA  | 109351 | 338332 |
| Itau Unibanco Holding SA | 113348 | 769200 |
| Itausa SA  | 121292 | 244455 |
| Petroleo Brasileiro SA - Petrobras | 91251 | 526871 |
|  |  | 1878858 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE EMERGING MARKETS EX-CHINA ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **PREFERRED STOCKS - 2.5%** | **Shares** | **Value**  |
| **South Korea - 0.6%** | |  |
| Samsung Electronics Co. Ltd., 0.00%  | 17455 | $640206 |
| **TOTAL PREFERRED STOCKS** (Cost $2,536,492) |  | 2519064 |
| **RIGHTS - 0.0%**<sup>(d)</sup> |  |  |
| **South Korea *-* 0.0%**<sup>(d)</sup> |  |  |
| Hanwha Aerospace Co. Ltd., Expires 07/03/2025, <br>Exercise Price $684,000.00 <sup>(b)(e)</sup> | 41 | 5020 |
| **TOTAL RIGHTS** (Cost $1,819) |  | 5020 |
| **SHORT-TERM INVESTMENTS - 0.5%** |  |  |
| **Money Market Funds - 0.5%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(f)</sup> | 471799 | 471799 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $471,799) |  | 471799 |
| **TOTAL INVESTMENTS - 100.6% (**Cost $79,391,139**)** |  | $99944873 |
| Liabilities in Excess of Other Assets - (0.6)%  |  | (644045) |
| **TOTAL NET ASSETS - 100.0%** |  | $99300828 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| JSC - Public Joint Stock Company |
| PCL - Public Company Limited |
| PJSC - Public Joint Stock Company |
| PLC - Public Limited Company |

---

(a) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $2,494,581 or 2.5% of the Fund's net assets.

(b) Non-income producing security.

(c) To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting such country or region.

(d) Represents less than 0.05% of net assets.

(e) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $5,020 or 0.0% of net assets as of June 30, 2025.

(f) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES - 28.4%**<sup>(a)</sup>  | **Par** | **Value**  |
| ACHV ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-1PL, Class D, 8.47%, 03/18/2030 <sup>(b)</sup> | $535603 | $541826 |
| &nbsp;&nbsp;&nbsp;Series 2023-3PL, Class C, 7.35%, 08/19/2030 <sup>(b)</sup> | 32752 | 32798 |
| &nbsp;&nbsp;&nbsp;Series 2023-3PL, Class D, 8.36%, 08/19/2030 <sup>(b)</sup> | 1000000 | 1015809 |
| &nbsp;&nbsp;&nbsp;Series 2024-1PL, Class C, 6.42%, 04/25/2031 <sup>(b)</sup> | 129086 | 130241 |
| &nbsp;&nbsp;&nbsp;Series 2024-2PL, Class B, 5.43%, 10/27/2031 <sup>(b)</sup> | 234431 | 235951 |
| &nbsp;&nbsp;&nbsp;Series 2024-3AL, Class C, 5.68%, 12/26/2031 <sup>(b)</sup> | 681926 | 683277 |
| ACHV ABS TRUST, Series 2024-2PL, Class C, 5.72%, 10/27/2031 <sup>(b)</sup> | 2194175 | 2201638 |
| Affirm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2023-B, Class 1B, 7.44%, 09/15/2028 <sup>(b)</sup> | 300000 | 301356 |
| &nbsp;&nbsp;&nbsp;Series 2025-1A, Class B, 5.13%, 02/15/2033 <sup>(b)</sup> | 1000000 | 1007051 |
| American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-4, Class D, 8.00%, 02/15/2029 <sup>(b)</sup> | 1182034 | 1196724 |
| &nbsp;&nbsp;&nbsp;Series 2023-1, Class D, 6.35%, 04/12/2029 <sup>(b)</sup> | 1790000 | 1810636 |
| &nbsp;&nbsp;&nbsp;Series 2023-3, Class D, 6.82%, 10/12/2029 <sup>(b)</sup> | 3700000 | 3778460 |
| &nbsp;&nbsp;&nbsp;Series 2023-4, Class C, 6.99%, 09/12/2030 <sup>(b)</sup> | 1350000 | 1367158 |
| Avis Budget Car Rental LLC |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class B, 2.96%, 02/20/2027 <sup>(b)</sup> | 500000 | 495554 |
| &nbsp;&nbsp;&nbsp;Series 2020-2A, Class C, 4.25%, 02/20/2027 <sup>(b)</sup> | 400000 | 397646 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class A, 1.38%, 08/20/2027 <sup>(b)</sup> | 1207000 | 1172646 |
| &nbsp;&nbsp;&nbsp;Series 2021-1A, Class C, 2.13%, 08/20/2027 <sup>(b)</sup> | 460000 | 446213 |
| &nbsp;&nbsp;&nbsp;Series 2022-5A, Class B, 7.09%, 04/20/2027 <sup>(b)</sup> | 1000000 | 1011817 |
| BOF URSA Funding Trust, Series 2023-CAR2, Class A2, 5.54%, 10/27/2031 <sup>(b)</sup> | 385991 | 387735 |
| Cherry Securitization Trust, Series 2025-1A, Class A, 6.13%, 11/15/2032 <sup>(b)</sup> | 500000 | 505478 |
| COOPR Residential Mortgage Trust, Series 2025-CES1, Class A1A, 5.65%, 05/25/2060 <sup>(b)(c)</sup> | 491994 | 495302 |
| CPS Auto Trust, Series 2022-D, Class D, 8.73%, 01/16/2029 <sup>(b)</sup> | 605000 | 631066 |
| DT Auto Owner Trust, Series 2022-2A, Class D, 5.46%, 03/15/2028 <sup>(b)</sup> | 2000000 | 2003187 |
| Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2022-3A, Class D, 6.76%, 09/15/2028  | 800000 | 812482 |
| &nbsp;&nbsp;&nbsp;Series 2023-3A, Class D, 6.68%, 04/16/2029  | 1000000 | 1021559 |
| FIGRE Trust 2023-HE1 |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-HE6, Class A, 5.72%, 12/25/2054 <sup>(b)(d)</sup> | 892949 | 907264 |
| &nbsp;&nbsp;&nbsp;Series 2024-SL1, Class A1, 5.75%, 07/25/2053 <sup>(b)(d)</sup> | 2434389 | 2484347 |
| FIGRE Trust 2024-HE3, Series 2024-HE3, Class A, 5.94%, 07/25/2054 <sup>(b)(d)</sup> | 803723 | 818253 |
| Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3, Class D, 1.65%, 09/15/2027 <sup>(b)</sup> | 78000 | 74922 |
| &nbsp;&nbsp;&nbsp;Series 2021-4, Class D, 2.26%, 12/15/2027 <sup>(b)</sup> | 116000 | 109509 |
| FREED ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-3FP, Class D, 2.37%, 11/20/2028 <sup>(b)</sup> | 30344 | 30216 |
| &nbsp;&nbsp;&nbsp;Series 2022-3FP, Class D, 7.36%, 08/20/2029 <sup>(b)</sup> | 265643 | 267206 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES - 28.4%**<sup>(a)</sup> **(CONTINUED)** | **Par** | **Value**  |
| &nbsp;&nbsp;&nbsp;Series 2022-4FP, Class D, 7.40%, 12/18/2029 <sup>(b)</sup> | $628328 | $632685 |
| Frontier Communications Parent, Inc., Series 2023-1, Class A2, 6.60%, 08/20/2053 <sup>(b)</sup> | 1000000 | 1016386 |
| GLS Auto Receivables Trust, Series 2022-3A, Class D, 6.42%, 06/15/2028 <sup>(b)</sup> | 2000000 | 2028483 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE2, Class A1, 5.81% (30 day avg SOFR US + 1.50%), 01/25/2055 <sup>(b)</sup> | 1238770 | 1242879 |
| Hertz Corp., Series 2021-2A, Class C, 2.52%, 12/27/2027 <sup>(b)</sup> | 500000 | 479719 |
| Lendbuzz Securitization Trust, Series 2024-3A, Class A2, 4.97%, 10/15/2029 <sup>(b)</sup> | 489960 | 490618 |
| Lobel Automobile Receivables Trust |  |  |
| Series 2023-1, Class C, 8.31%, 10/16/2028 <sup>(b)</sup> | 250000 | 252657 |
| Series 2023-1, Class D, 8.00%, 03/15/2030 <sup>(b)</sup> | 1516000 | 1543843 |
| Marlette Funding Trust |  |  |
| Series 2021-3A, Class C, 1.81%, 12/15/2031 <sup>(b)</sup> | 4306 | 4301 |
| Series 2022-3A, Class C, 6.89%, 11/15/2032 <sup>(b)</sup> | 772630 | 775339 |
| Series 2023-1A, Class C, 7.20%, 04/15/2033 <sup>(b)</sup> | 2862000 | 2884502 |
| Series 2023-3A, Class C, 7.06%, 09/15/2033 <sup>(b)</sup> | 600000 | 605656 |
| Octane Receivables Trust, Series 2022-2A, Class D, 7.70%, 02/20/2030 <sup>(b)</sup> | 1000000 | 1030997 |
| Oportun Financial Corp. |  |  |
| Series 2022-A, Class B, 5.25%, 06/09/2031 <sup>(b)</sup> | 1400000 | 1400682 |
| Series 2024-2, Class A, 5.86%, 02/09/2032 <sup>(b)</sup> | 169415 | 169630 |
| Pagaya AI Debt Selection Trust |  |  |
| Series 2021-HG1, Class B, 1.82%, 01/16/2029 <sup>(b)</sup> | 57453 | 56571 |
| Series 2022-5, Class A, 8.10%, 06/17/2030 <sup>(b)</sup> | 10277 | 10312 |
| Series 2023-3, Class B, 9.57%, 12/16/2030 <sup>(b)</sup> | 813526 | 818191 |
| Series 2023-5, Class C, 9.10%, 04/15/2031 <sup>(b)</sup> | 380540 | 382143 |
| Series 2023-7, Class ABC, 8.58%, 07/15/2031 <sup>(b)(d)</sup> | 288084 | 289779 |
| Series 2023-7, Class C, 8.80%, 07/15/2031 <sup>(b)</sup> | 499814 | 504978 |
| Series 2023-8, Class A, 7.30%, 06/16/2031 <sup>(b)</sup> | 127 | 129 |
| Series 2023-8, Class B, 7.96%, 06/16/2031 <sup>(b)</sup> | 1888237 | 1927454 |
| Series 2023-8, Class C, 9.54%, 06/16/2031 <sup>(b)</sup> | 1716306 | 1761579 |
| Series 2024-1, Class B, 7.11%, 07/15/2031 <sup>(b)</sup> | 564443 | 569203 |
| Series 2024-1, Class C, 8.34%, 07/15/2031 <sup>(b)</sup> | 448537 | 454730 |
| Series 2024-10, Class C, 5.99%, 06/15/2032 <sup>(b)</sup> | 999915 | 1002162 |
| Series 2024-11, Class B, 5.64%, 07/15/2032 <sup>(b)</sup> | 1999770 | 2006533 |
| Series 2024-2, Class B, 6.61%, 08/15/2031 <sup>(b)</sup> | 540195 | 545204 |
| Series 2024-3, Class A, 6.26%, 10/15/2031 <sup>(b)</sup> | 196898 | 198252 |
| Series 2024-3, Class B, 6.57%, 10/15/2031 <sup>(b)</sup> | 846752 | 853664 |
| Series 2024-5, Class B, 6.60%, 10/15/2031 <sup>(b)</sup> | 684269 | 691746 |
| Series 2024-8, Class C, 6.03%, 01/15/2032 <sup>(b)</sup> | 374542 | 375960 |
| Series 2024-8, Class D, 6.53%, 01/15/2032 <sup>(b)</sup> | 596264 | 599182 |
| Series 2024-9, Class D, 6.17%, 03/15/2032 <sup>(b)</sup> | 400237 | 400369 |
| Series 2025-1, Class B, 5.63%, 07/15/2032 <sup>(b)</sup> | 999915 | 1005716 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES - 28.4%**<sup>(a)</sup> **(CONTINUED)** | **Par** | **Value**  |
| Series 2025-1, Class C, 5.87%, 07/15/2032 <sup>(b)</sup> | $499957 | $502850 |
| Series 2025-3, Class A2, 5.37%, 12/15/2032 <sup>(b)</sup> | 500000 | 500885 |
| Series 2025-3, Class B, 6.06%, 12/15/2032 <sup>(b)</sup> | 500000 | 510252 |
| Series 2025-4, Class A2, 5.37%, 01/17/2033 <sup>(b)</sup> | 1500000 | 1509238 |
| Series 2025-4, Class B, 5.69%, 01/17/2033 <sup>(b)</sup> | 1000000 | 1008612 |
| Series 2025-4, Class C, 6.15%, 01/17/2033 <sup>(b)</sup> | 1000000 | 1009961 |
| Series 2025-R1, Class A2, 5.34%, 06/15/2032 <sup>(b)</sup> | 1000000 | 1003261 |
| Series 2025-R1, Class B, 5.71%, 06/15/2032 <sup>(b)</sup> | 1000000 | 1007885 |
| Pagaya Technologies Ltd. |  |  |
| Series 2025-1, Class A, 5.72%, 01/20/2034 <sup>(b)</sup> | 1200000 | 1207885 |
| Series 2025-1, Class C, 6.30%, 01/20/2034 <sup>(b)</sup> | 750000 | 756449 |
| Prestige Auto Receivables Trust, Series 2025-1A, Class B, 5.34%, 11/15/2028 <sup>(b)</sup> | 2000000 | 2010669 |
| Prosper Marketplace Issuance Trust |  |  |
| Series 2023-1A, Class B, 7.48%, 07/16/2029 <sup>(b)</sup> | 120133 | 120331 |
| Series 2023-1A, Class C, 8.29%, 07/16/2029 <sup>(b)</sup> | 600000 | 606577 |
| PRPM LLC |  |  |
| Series 2024-4, Class A1, 6.41%, 08/25/2029 <sup>(b)(c)</sup> | 872601 | 886915 |
| Series 2024-RCF1, Class A1, 4.00%, 01/25/2054 <sup>(b)(c)</sup> | 811508 | 797022 |
| Purchasing Power Funding, Series 2024-A, Class B, 6.43%, 08/15/2028 <sup>(b)</sup> | 400000 | 402913 |
| Reach Financial LLC |  |  |
| Series 2021-1A, Class C, 3.54%, 05/15/2029 <sup>(b)</sup> | 59403 | 59153 |
| Series 2022-2A, Class C, 8.40%, 05/15/2030 <sup>(b)</sup> | 55359 | 55431 |
| Series 2024-1A, Class B, 6.29%, 02/18/2031 <sup>(b)</sup> | 500000 | 505634 |
| Research-Driven Pagaya Motor Asset Trust |  |  |
| Series 2023-3A, Class A, 7.13%, 01/26/2032 <sup>(b)</sup> | 93835 | 94185 |
| Series 2023-4A, Class A, 7.54%, 03/25/2032 <sup>(b)</sup> | 106881 | 107675 |
| Series 2025-3A, Class A2, 5.15%, 02/27/2034 <sup>(b)</sup> | 2000000 | 2010989 |
| SAFCO Auto Receivables Trust, Series 2024-1A, Class B, 6.31%, 11/20/2028 <sup>(b)</sup> | 250000 | 250489 |
| Saluda Grade Mortgage Funding LLC, Series 2023-FIG4, Class A, 6.72%, 11/25/2053 <sup>(b)(d)</sup> | 367151 | 379572 |
| Sotheby's Artfi Master Trust, Series 2024-1A, Class A1, 6.43%, 12/22/2031 <sup>(b)</sup> | 1312000 | 1323354 |
| Strike Acceptance Auto Funding Trust, Series 2025-1A, Class A, 5.84%, 04/15/2032 <sup>(b)</sup> | 852445 | 852915 |
| Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 <sup>(b)</sup> | 1500000 | 1519641 |
| Tricolor Auto Securitization Trust, Series 2024-3A, Class B, 5.36%, 09/15/2028 <sup>(b)</sup> | 2000000 | 2005359 |
| Upgrade Master Pass-Thru Trust, Series 2025-ST4, Class A, 5.50%, 08/16/2032 <sup>(b)</sup> | 1000000 | 1000000 |
| Upstart Pass-Through Trust Series, Series 2022-ST3, Class A, 4.30%, 05/20/2030 <sup>(b)</sup> | 111959 | 111213 |
| Upstart Securitization Trust |  |  |
| Series 2021-2, Class C, 3.61%, 06/20/2031 <sup>(b)</sup> | 126831 | 126190 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES - 28.4%**<sup>(a)</sup> **(CONTINUED)** | **Par** | **Value**  |
| Series 2024-1, Class A, 5.33%, 11/20/2034 <sup>(b)</sup> | $897915 | $899578 |
| Upstart Structured Pass-Through Trust, Series 2022-4A, Class B, 8.54%, 11/15/2030 <sup>(b)</sup> | 252950 | 254569 |
| Veros Automobile Receivables Trust, Series 2023-1, Class A, 7.12%, 11/15/2028 <sup>(b)</sup> | 39286 | 39338 |
| Verus Securitization Trust, Series 2025-4, Class A3, 5.75%, 05/25/2070 <sup>(b)(c)</sup> | 1633064 | 1647149 |
| Vista Point Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2024-CES2, Class A1, 5.25%, 10/25/2054 <sup>(b)(c)</sup> | 419096 | 419817 |
| &nbsp;&nbsp;&nbsp;Series 2024-CES3, Class A1, 5.68%, 01/25/2055 <sup>(b)(c)</sup> | 1841078 | 1859766 |
| &nbsp;&nbsp;&nbsp;Series 2025-CES1, Class A1, 5.81%, 04/25/2055 <sup>(b)(c)</sup> | 2889286 | 2927468 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $89,321,275) |  | 89678751 |
| **CORPORATE BONDS - 26.4%** | **Par** | **Value**  |
| **<u>Communication Services</u> - 0.4%** |  |  |
| **Wireless Telecommunication Services - 0.4%** |  |  |
| Sprint LLC, 7.63%, 03/01/2026  | 1260000 | 1272191 |
| **<u>Consumer Discretionary</u> - 4.5%** |  |  |
| **Apparel, Accessories & Luxury Goods - 0.2%** |  |  |
| PVH Corp., 4.63%, 07/10/2025  | 750000 | 749877 |
| **Automotive - 1.0%** |  |  |
| Ford Motor Credit Co. LLC, 2.90%, 02/16/2028  | 1650000 | 1547784 |
| General Motors Financial Co., Inc., 2.40%, 04/10/2028  | 1650000 | 1552759 |
|  |  | 3100543 |
| **Automotive Parts & Equipment - 0.5%** |  |  |
| BorgWarner, Inc., 2.65%, 07/01/2027  | 1600000 | 1548457 |
| **Automotive Retail - 0.2%** |  |  |
| AutoNation, Inc., 4.50%, 10/01/2025  | 750000 | 749698 |
| **Financial Services - 0.2%** |  |  |
| Block Financial LLC, 5.25%, 10/01/2025  | 600000 | 600201 |
| **Homebuilding - 0.9%** |  |  |
| Meritage Homes Corp., 5.13%, 06/06/2027  | 1200000 | 1214561 |
| Toll Brothers Finance Corp., 4.88%, 03/15/2027  | 1600000 | 1605960 |
|  |  | 2820521 |
| **Hotels, Resorts & Cruise Lines - 0.5%** |  |  |
| Royal Caribbean Cruises Ltd., 4.25%, 07/01/2026 <sup>(b)</sup> | 1600000 | 1592951 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 26.4% (CONTINUED)** | **Par** | **Value**  |
| **Leisure Products - 0.5%** | | |
| Mattel, Inc., 3.38%, 04/01/2026 <sup>(b)</sup> | $1500000 | $1481602 |
| **Passenger Airlines - 0.5%** |  |  |
| United Airlines, Inc., 4.38%, 04/15/2026 <sup>(b)</sup> | 1550000 | 1540722 |
| **Total Consumer Discretionary** |  | 14184572 |
| **<u>Consumer Staples</u> - 0.7%** |  |  |
| **Food & Beverage - 0.4%** |  |  |
| JBS USA Holding Lux Sarl/ JBS USA Food Co./ <br>JBS Lux Co. Sarl, 5.13%, 02/01/2028  | 1100000 | 1124981 |
| **Packaged Foods & Meats - 0.3%** |  |  |
| Conagra Brands, Inc., 1.38%, 11/01/2027  | 1150000 | 1073482 |
| **Total Consumer Staples** |  | 2198463 |
| **<u>Energy</u> - 3.0%** |  |  |
| **Integrated Oil & Gas - 0.5%** |  |  |
| Occidental Petroleum Corp., 3.20%, 08/15/2026  | 1700000 | 1667956 |
| **Oil & Gas Exploration & Production - 1.5%** |  |  |
| Continental Resources, Inc., 2.27%, 11/15/2026 <sup>(b)</sup> | 1700000 | 1643384 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.13%, 05/15/2026 <sup>(b)</sup> | 879000 | 865635 |
| &nbsp;&nbsp;&nbsp;3.90%, 10/01/2027  | 821000 | 810362 |
| Ovintiv, Inc., 5.38%, 01/01/2026  | 1400000 | 1401340 |
|  |  | 4720721 |
| **Oil & Gas Storage & Transportation - 0.8%** |  |  |
| ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 03/01/2026  | 1200000 | 1201066 |
| &nbsp;&nbsp;&nbsp;4.85%, 07/15/2026  | 200000 | 200414 |
| Western Midstream Operating LP, 4.75%, 08/15/2028  | 1150000 | 1149903 |
|  |  | 2551383 |
| **Oil, Gas & Consumable Fuels - 0.2%** |  |  |
| Targa Resources Partners LP<br>Targa Resources Partners Finance Corp., 6.50%, 07/15/2027  | 560000 | 560376 |
| **Total Energy** |  | 9500436 |
| **<u>Financials</u> - 7.4%** |  |  |
| **Asset Management & Custody Banks - 0.5%** |  |  |
| Ares Capital Corp. |  |  |
| 3.25%, 07/15/2025  | 750000 | 749549 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 26.4% (CONTINUED)** | **Par** | **Value**  |
| **Asset Management & Custody Banks - 0.5% (Continued)** | | |
| 7.00%, 01/15/2027  | $950000 | $980529 |
|  |  | 1730078 |
| **Automotive Retail - 0.2%** |  |  |
| Penske Truck Leasing Co. Lp / PTL Finance Corp., 5.75%, 05/24/2026 <sup>(b)</sup> | 625000 | 630375 |
| **Brokerage & Investment Management - 0.3%** |  |  |
| LPL Holdings, Inc., 5.70%, 05/20/2027  | 850000 | 866423 |
| **Commercial & Residential Mortgage Finance - 0.5%** |  |  |
| Radian Group, Inc., 4.88%, 03/15/2027  | 1550000 | 1551991 |
| **Consumer Finance - 0.4%** |  |  |
| Capital One Financial Corp., 4.20%, 10/29/2025  | 1100000 | 1098517 |
| Synchrony Bank, 5.63%, 08/23/2027  | 250000 | 255019 |
|  |  | 1353536 |
| **Diversified Banks - 3.5%** |  |  |
| Bank of America Corp., 4.45%, 03/03/2026  | 1300000 | 1298787 |
| Barclays PLC, 5.20%, 05/12/2026  | 1600000 | 1607562 |
| Capital One NA, 3.45%, 07/27/2026  | 1200000 | 1186990 |
| Citigroup, Inc., 4.60%, 03/09/2026  | 1650000 | 1650000 |
| Comerica, Inc., 3.80%, 07/22/2026  | 1600000 | 1585981 |
| Fifth Third Bank, Inc., 3.85%, 03/15/2026  | 1550000 | 1540462 |
| Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;4.58%, 12/10/2025  | 700000 | 699434 |
| &nbsp;&nbsp;&nbsp;4.65%, 03/24/2026  | 850000 | 849359 |
| Truist Bank, 3.63%, 09/16/2025  | 750000 | 748007 |
|  |  | 11166582 |
| **Diversified Financial Services - 0.1%** |  |  |
| Apollo Management Holdings LP, 4.40%, 05/27/2026 <sup>(b)</sup> | 370000 | 369522 |
| **Finance Companies - 0.8%** |  |  |
| Athene Global Funding, 5.62%, 05/08/2026 <sup>(b)</sup> | 700000 | 706404 |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;2.53%, 11/18/2027 <sup>(b)</sup> | 550000 | 523050 |
| &nbsp;&nbsp;&nbsp;6.38%, 05/04/2028 <sup>(b)</sup> | 1100000 | 1147556 |
|  |  | 2377010 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 26.4% (CONTINUED)** | **Par** | **Value**  |
| **Insurance - 0.1%** | | |
| Prudential Insurance Co. of America, 8.30%, 07/01/2025 <sup>(b)</sup> | $250000 | $250000 |
| **Private Equity - 0.1%** |  |  |
| HAT Holdings I LLC / HAT Holdings II LLC, 3.38%, 06/15/2026 <sup>(b)</sup> | 322000 | 315377 |
| **Specialized REITs - 0.8%** |  |  |
| Host Hotels & Resorts LP, 4.50%, 02/01/2026  | 1050000 | 1047786 |
| VICI Properties LP / VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, 09/01/2026 <sup>(b)</sup> | 1455000 | 1451368 |
| &nbsp;&nbsp;&nbsp;3.75%, 02/15/2027 <sup>(b)</sup> | 150000 | 147756 |
|  |  | 2646910 |
| **Transaction & Payment Processing Services - 0.1%** |  |  |
| Global Payments, Inc., 4.80%, 04/01/2026  | 200000 | 199931 |
| **Total Financials** |  | 23457735 |
| **<u>Health Care</u> - 0.7%** |  |  |
| **Health Care Providers & Services - 0.4%** |  |  |
| HCA, Inc., 5.20%, 06/01/2028  | 1150000 | 1175167 |
| **Pharmaceuticals - 0.3%** |  |  |
| Royalty Pharma PLC, 1.20%, 09/02/2025  | 900000 | 894089 |
| **Total Health Care** |  | 2069256 |
| **<u>Industrials</u> - 3.1%** |  |  |
| **Aerospace & Defense - 1.1%** |  |  |
| Boeing Co., 2.75%, 02/01/2026  | 592000 | 585344 |
| Hexcel Corp., 4.20%, 02/15/2027 <sup>(c)</sup> | 570000 | 564807 |
| Rolls-Royce PLC, 3.63%, 10/14/2025 <sup>(b)</sup> | 1250000 | 1248329 |
| Textron, Inc., 4.00%, 03/15/2026  | 1200000 | 1195724 |
|  |  | 3594204 |
| **Commercial Services - 0.5%** |  |  |
| Ashtead Capital, Inc., 1.50%, 08/12/2026 <sup>(b)</sup> | 1600000 | 1548332 |
| **Passenger Airlines - 0.5%** |  |  |
| Delta Air Lines, Inc., 7.38%, 01/15/2026  | 1500000 | 1522026 |
| **Trading Companies & Distributors - 1.0%** |  |  |
| Aircastle Ltd. |  |  |
| 5.25%, 08/11/2025 <sup>(b)</sup> | 750000 | 749965 |
| 2.85%, 01/26/2028 <sup>(b)</sup> | 1650000 | 1571564 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 26.4% (CONTINUED)** | **Par** | **Value**  |
| **Trading Companies & Distributors - 1.0% (Continued)** | | |
| GATX Corp. |  |  |
| 3.25%, 09/15/2026  | $450000 | $443522 |
| 3.50%, 03/15/2028  | 280000 | 273679 |
|  |  | 3038730 |
| **Total Industrials** |  | 9703292 |
| **<u>Information Technology</u> - 2.1%** |  |  |
| **Communications Equipment - 0.3%** |  |  |
| Juniper Networks, Inc., 1.20%, 12/10/2025  | 900000 | 885888 |
| **Electronic Manufacturing Services - 0.1%** |  |  |
| Flex Ltd., 3.75%, 02/01/2026  | 300000 | 298077 |
| **Technology Distributors - 1.2%** |  |  |
| Arrow Electronics, Inc., 3.88%, 01/12/2028  | 1200000 | 1177317 |
| Avnet, Inc., 4.63%, 04/15/2026  | 1200000 | 1198520 |
| CDW LLC / CDW Finance Corp. |  |  |
| 2.67%, 12/01/2026  | 890000 | 868213 |
| 4.25%, 04/01/2028  | 662000 | 656888 |
|  |  | 3900938 |
| **Technology Hardware, Storage & Peripherals - 0.5%** |  |  |
| Hewlett Packard Enterprise Co., 1.75%, 04/01/2026  | 1500000 | 1470659 |
| **Total Information Technology** |  | 6555562 |
| **<u>Materials</u> - 2.6%** |  |  |
| **Commodity Chemicals - 0.4%** |  |  |
| Cabot Corp., 3.40%, 09/15/2026  | 1200000 | 1183654 |
| **Fertilizers & Agricultural Chemicals - 0.5%** |  |  |
| FMC Corp., 3.20%, 10/01/2026  | 1600000 | 1570376 |
| **Metal, Glass & Plastic Containers - 0.9%** |  |  |
| Berry Global, Inc., 1.57%, 01/15/2026  | 1200000 | 1178700 |
| Silgan Holdings, Inc., 1.40%, 04/01/2026 <sup>(b)</sup> | 1650000 | 1605784 |
|  |  | 2784484 |
| **Packaging & Containers - 0.3%** |  |  |
| Brambles USA, Inc., 4.13%, 10/23/2025 <sup>(b)</sup> | 900000 | 899563 |
| Graphic Packaging International LLC, 1.51%, 04/15/2026 <sup>(b)</sup> | 108000 | 105198 |
|  |  | 1004761 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 26.4% (CONTINUED)** | **Par** | **Value**  |
| **Paper & Plastic Packaging Products & Materials - 0.5%** | | |
| Sealed Air Corp., 1.57%, 10/15/2026 <sup>(b)</sup> | $1650000 | $1579624 |
| **Specialty Chemicals - 0.0%**<sup>(e)</sup> |  |  |
| International Flavors & Fragrances, Inc., 1.23%, 10/01/2025 <sup>(b)</sup> | 235000 | 232735 |
| **Total Materials** |  | 8355634 |
| **<u>Utilities</u> - 1.9%** |  |  |
| **Electric Utilities - 0.9%** |  |  |
| Edison International, 4.70%, 08/15/2025  | 600000 | 599088 |
| NRG Energy, Inc., 2.00%, 12/02/2025 <sup>(b)</sup> | 999000 | 984570 |
| Pacific Gas and Electric Co., 3.15%, 01/01/2026  | 1400000 | 1386788 |
|  |  | 2970446 |
| **Gas Utilities - 0.5%** |  |  |
| National Fuel Gas Co., 5.50%, 10/01/2026  | 1550000 | 1566717 |
| **Utilities - 0.5%** |  |  |
| Vistra Operations Co. LLC |  |  |
| 5.05%, 12/30/2026 <sup>(b)</sup> | 400000 | 402205 |
| 3.70%, 01/30/2027 <sup>(b)</sup> | 1150000 | 1135288 |
|  |  | 1537493 |
| **Total Utilities** |  | 6074656 |
| **TOTAL CORPORATE BONDS** (Cost $83,027,228) |  | 83371797 |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 18.9%** | | |
| Cross Mortgage Trust, Series 2025-H4, Class A3, 5.88%, 06/25/2070 <sup>(b)(c)</sup> | 491634 | 496612 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series K049, Class A2, 3.01%, 07/25/2025  | 50290 | 50201 |
| &nbsp;&nbsp;&nbsp;Series K050, Class A2, 3.33%, 08/25/2025 <sup>(d)</sup> | 410284 | 409562 |
| &nbsp;&nbsp;&nbsp;Series K053, Class A2, 3.00%, 12/25/2025  | 2300961 | 2284778 |
| &nbsp;&nbsp;&nbsp;Series K054, Class A2, 2.75%, 01/25/2026  | 718227 | 711421 |
| &nbsp;&nbsp;&nbsp;Series K055, Class A2, 2.67%, 03/25/2026  | 2141560 | 2114936 |
| &nbsp;&nbsp;&nbsp;Series K056, Class A2, 2.53%, 05/25/2026  | 2423758 | 2387920 |
| &nbsp;&nbsp;&nbsp;Series K058, Class A2, 2.65%, 08/25/2026  | 2777000 | 2725770 |
| &nbsp;&nbsp;&nbsp;Series K059, Class A2, 3.12%, 09/25/2026 <sup>(d)</sup> | 2000000 | 1974054 |
| &nbsp;&nbsp;&nbsp;Series K060, Class A2, 3.30%, 10/25/2026  | 1150000 | 1136199 |
| &nbsp;&nbsp;&nbsp;Series K061, Class A2, 3.35%, 11/25/2026 <sup>(d)</sup> | 837698 | 827351 |
| &nbsp;&nbsp;&nbsp;Series K062, Class A2, 3.41%, 12/25/2026  | 2500000 | 2469473 |
| &nbsp;&nbsp;&nbsp;Series K734, Class A2, 3.21%, 02/25/2026  | 2159752 | 2145225 |
| &nbsp;&nbsp;&nbsp;Series K735, Class A2, 2.86%, 05/25/2026  | 1912177 | 1888313 |
| &nbsp;&nbsp;&nbsp;Series K-F100, Class AS, 4.49% (30 day avg SOFR US + 0.18%), 01/25/2028  | 314851 | 312735 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 18.9% (CONTINUED)** | **Par** | **Value** |
| Series K-F101, Class AS, 4.51% (30 day avg SOFR US + 0.20%), 01/25/2031  | $396564 | $390314 |
| Series K-F104, Class AS, 4.56% (30 day avg SOFR US + 0.25%), 01/25/2031  | 581479 | 578551 |
| Series K-F107, Class AS, 4.56% (30 day avg SOFR US + 0.25%), 03/25/2028  | 1090634 | 1087877 |
| Series K-F112, Class AS, 4.54% (30 day avg SOFR US + 0.23%), 04/25/2031  | 429790 | 421756 |
| Series K-F113, Class AS, 4.54% (30 day avg SOFR US + 0.23%), 05/25/2028  | 291014 | 289093 |
| Series K-F114, Class AS, 4.53% (30 day avg SOFR US + 0.22%), 05/25/2031  | 1121050 | 1104926 |
| Series K-F115, Class AS, 4.52% (30 day avg SOFR US + 0.21%), 06/25/2031  | 1839014 | 1811942 |
| Series K-F117, Class AS, 4.55% (30 day avg SOFR US + 0.24%), 06/25/2031  | 400420 | 395365 |
| Series K-F118, Class AS, 4.51% (30 day avg SOFR US + 0.20%), 07/25/2028  | 243453 | 241476 |
| Series K-F121, Class AS, 4.49% (30 day avg SOFR US + 0.18%), 08/25/2028  | 777213 | 770221 |
| Series KF125, Class AS, 4.53% (30 day avg SOFR US + 0.22%), 10/25/2028  | 1197645 | 1187853 |
| Series KF129, Class AS, 4.56% (30 day avg SOFR US + 0.25%), 01/25/2029  | 384001 | 381058 |
| Series KF133, Class AS, 4.68% (30 day avg SOFR US + 0.37%), 02/25/2029  | 1371583 | 1366076 |
| Series KF160, Class AS, 5.01% (30 day avg SOFR US + 0.70%), 10/25/2030  | 590410 | 594258 |
| Series KF48, Class A, 4.72% (30 day avg SOFR US + 0.40%), 06/25/2028  | 1089069 | 1086706 |
| Series KF57, Class A, 4.97% (30 day avg SOFR US + 0.65%), 12/25/2028  | 543801 | 546599 |
| Series KF59, Class A, 4.97% (30 day avg SOFR US + 0.65%), 02/25/2029  | 999569 | 1002738 |
| Series KF61, Class A, 4.96% (30 day avg SOFR US + 0.64%), 03/25/2029  | 435869 | 437245 |
| Series KF75, Class AL, 4.94% (30 day avg SOFR US + 0.62%), 12/25/2029  | 366907 | 368285 |
| Series KF75, Class AS, 4.86% (SOFR 1M Historical Calendar Day Compounded + 0.55%), 12/25/2029  | 397372 | 398186 |
| Series KF79, Class AL, 4.90% (30 day avg SOFR US + 0.58%), 05/25/2030  | 808230 | 807021 |
| Series KF86, Class AS, 4.63% (30 day avg SOFR US + 0.32%), 08/25/2027  | 510832 | 509437 |
| Series KF87, Class AL, 4.78% (30 day avg SOFR US + 0.46%), 08/25/2030  | 141722 | 141300 |
| Series KF87, Class AS, 4.66% (30 day avg SOFR US + 0.35%), 08/25/2030  | 566888 | 562279 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 18.9% (CONTINUED)** | **Par** | **Value** |
| Series KF88, Class AL, 4.76% (30 day avg SOFR US + 0.44%), 09/25/2030  | $3814421 | $3804325 |
| Series KF90, Class AS, 4.69% (30 day avg SOFR US + 0.38%), 09/25/2030  | 340826 | 337206 |
| Series KF91, Class AS, 4.69% (30 day avg SOFR US + 0.38%), 10/25/2030  | 311798 | 310050 |
| Series KF93, Class AS, 4.62% (30 day avg SOFR US + 0.31%), 10/25/2027  | 1058083 | 1054413 |
| Series KF94, Class AL, 4.73% (30 day avg SOFR US + 0.41%), 11/25/2030  | 1011858 | 1007646 |
| Series KF94, Class AS, 4.65% (30 day avg SOFR US + 0.34%), 11/25/2030  | 337286 | 334279 |
| Series KF95, Class AL, 4.69% (30 day avg SOFR US + 0.37%), 11/25/2030  | 806896 | 798068 |
| Series KF96, Class AL, 4.69% (30 day avg SOFR US + 0.37%), 12/25/2030  | 946916 | 941174 |
| Series KF97, Class AS, 4.56% (30 day avg SOFR US + 0.25%), 12/25/2030  | 197842 | 195470 |
| Series KF99, Class AS, 4.51% (30 day avg SOFR US + 0.20%), 12/25/2030  | 512844 | 505430 |
| Series KJ21, Class A2, 3.70%, 09/25/2026  | 1492940 | 1483935 |
| Series KLU2, Class A7, 2.23%, 09/25/2025 <sup>(d)</sup> | 1185362 | 1178810 |
| Federal National Mortgage Association |  |  |
| Series 2015-M10, Class A2, 3.09%, 04/25/2027 <sup>(d)</sup> | 1071781 | 1048872 |
| Series 2017-M15, Class ATS2, 3.21%, 11/25/2027 <sup>(d)</sup> | 506250 | 496296 |
| Series 2017-M4, Class A2, 2.64%, 12/25/2026 <sup>(d)</sup> | 962674 | 940417 |
| Freddie Mac Structured Agency Credit Risk Debt Notes |  |  |
| Series 2021-DNA7, Class M1, 5.16% (30 day avg SOFR US + 0.85%), 11/25/2041 <sup>(b)</sup> | 178794 | 178957 |
| Series 2022-HQA2, Class M1B, 8.31% (30 day avg SOFR US + 4.00%), 07/25/2042 <sup>(b)</sup> | 1550000 | 1637070 |
| Series 2024-DNA1, Class M1, 5.66% (30 day avg SOFR US + 1.35%), 02/25/2044 <sup>(b)</sup> | 998078 | 1001902 |
| Series 2024-HQA2, Class M1, 5.51% (30 day avg SOFR US + 1.20%), 08/25/2044 <sup>(b)</sup> | 1522856 | 1529160 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A16, 6.50%, 04/25/2054 <sup>(b)(d)</sup> | 286464 | 293563 |
| Home RE Ltd., Series 2023-1, Class M1A, 6.46% (30 day avg SOFR US + 2.15%), 10/25/2033 <sup>(b)</sup> | 19277 | 19309 |
| Onslow Bay Mortgage Loan Trust |  |  |
| Series 2024-NQM2, Class A1, 5.88%, 12/25/2063 <sup>(b)(c)</sup> | 716689 | 727799 |
| Series 2025-NQM7, Class A3, 5.86%, 05/25/2055 <sup>(b)(c)</sup> | 967021 | 970906 |
| Sequoia Mortgage Trust, Series 2023-4, Class A10, 6.00%, 11/25/2053 <sup>(b)(d)</sup> | 224103 | 227166 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $59,478,516) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $59,478,516) | 59437335 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED LOAN OBLIGATIONS - 15.5%** | **Par** | **Value**  |
| AMMC CDO, Series 2017-21A, Class B, 6.21% (3 mo. Term SOFR + 1.94%), 11/02/2030 <sup>(b)</sup> | $118634 | $118687 |
| BCRED BSL Static CLO Ltd., Series 2025-1A, Class AR, 5.54% (3 mo. Term SOFR + 1.25%), 07/24/2035 <sup>(b)</sup> | 1000000 | 999502 |
| Black Diamond CLO Ltd., Series 2019-2A, Class A1AR, 5.60% (3 mo. Term SOFR + 1.32%), 07/23/2032 <sup>(b)</sup> | 999455 | 1000392 |
| Blackstone, Inc., Series 2018-1A, Class A2, 5.53% (3 mo. Term SOFR + 1.27%), 04/15/2031 <sup>(b)</sup> | 106667 | 106736 |
| Canyon Capital CLO Ltd., Series 2016-1A, Class AR, 5.59% (3 mo. Term SOFR + 1.33%), 07/15/2031 <sup>(b)</sup> | 1065679 | 1066371 |
| Carbone CLO LLC, Series 2017-1A, Class A1, 5.67% (3 mo. Term SOFR + 1.40%), 01/20/2031 <sup>(b)</sup> | 858331 | 856804 |
| CBAM Ltd., Series 2019-10A, Class A1R, 5.65% (3 mo. Term SOFR + 1.38%), 04/20/2032 <sup>(b)</sup> | 1487037 | 1486728 |
| Dryden Senior Loan Fund, Series 2019-80A, Class AR, 5.53% (3 mo. Term SOFR + 1.25%), 01/17/2033 <sup>(b)</sup> | 1639012 | 1636679 |
| Fortress Credit Opportunities |  |  |
| Series 2025-31A, Class A1, 5.82% (3 mo. Term SOFR + 1.50%), 07/20/2033 <sup>(b)</sup> | 2000000 | 2004382 |
| Series 2025-35A, Class A1, 0.00% (3 mo. Term SOFR + 1.40%), 07/20/2033 <sup>(b)</sup> | 2100000 | 2100000 |
| Gallatin CLO Ltd., Series 2017-1A, Class A1R, 5.61% (3 mo. Term SOFR + 1.35%), 07/15/2031 <sup>(b)</sup> | 1325632 | 1326146 |
| LCM XIII LP, Series 14A, Class AR, 5.57% (3 mo. Term SOFR + 1.30%), 07/20/2031 <sup>(b)</sup> | 230256 | 230272 |
| LJV I MM CLO LLC, Series 2022-1A, Class A1, 6.13% (3 mo. Term SOFR + 1.85%), 04/28/2034 <sup>(b)</sup> | 3111224 | 3117057 |
| Madison Park Funding Ltd. |  |  |
| Series 2015-18A, Class ARR, 5.47% (3 mo. Term SOFR + 1.20%), 10/21/2030 <sup>(b)</sup> | 1103460 | 1104465 |
| Series 2021-52A, Class X, 5.43% (3 mo. Term SOFR + 1.16%), 01/22/2035 <sup>(b)</sup> | 315789 | 315782 |
| Maranon Loan Funding Ltd., Series 2021-3A, Class XR, 5.56% (3 mo. Term SOFR + 1.30%), 10/15/2036 <sup>(b)</sup> | 875000 | 874977 |
| Milos Clo, Series 2017-1A, Class AR, 5.60% (3 mo. Term SOFR + 1.33%), 10/20/2030 <sup>(b)</sup> | 1083657 | 1084983 |
| Mountain View Funding CLO, Series 2017-2A, Class AR, 5.56% (3 mo. Term SOFR + 1.30%), 01/16/2031 <sup>(b)</sup> | 83983 | 83985 |
| Neuberger Berman CLO Ltd. |  |  |
| Series 2019-34A, Class A1R, 5.51% (3 mo. Term SOFR + 1.24%), 01/20/2035 <sup>(b)</sup> | 1083312 | 1081840 |
| Series 2020-36A, Class A1R2, 5.57% (3 mo. Term SOFR + 1.30%), 04/20/2033 <sup>(b)</sup> | 1235013 | 1233367 |
| OCP CLO Ltd., Series 2014-5A, Class A1R, 5.62% (3 mo. Term SOFR + 1.34%), 04/26/2031 <sup>(b)</sup> | 71822 | 71839 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED LOAN OBLIGATIONS - 15.5% (CONTINUED)** | **Par** | **Value**  |
| Octagon Investment Partners Ltd., Series 2016-1A, Class XRR, 5.58% <br>(3 mo. Term SOFR + 1.30%), 04/24/2037 <sup>(b)</sup> | $1052632 | $1055888 |
| OZLM Ltd., Series 2019-24A, Class A1AR, 5.69% (3 mo. Term SOFR + 1.42%), 07/20/2032 <sup>(b)</sup> | 1837169 | 1837568 |
| Palmer Square Loan Funding Ltd., Series 2022-3A, Class A1AR, 5.36% (3 mo. Term SOFR + 1.10%), 04/15/2031 <sup>(b)</sup> | 676003 | 674297 |
| Parliament Funding, Series 2020-1A, Class BR, 6.18% (3 mo. Term SOFR + 1.91%), 10/20/2031 <sup>(b)</sup> | 1632710 | 1633508 |
| ROMARK CLO LLC, Series 2021-5A, Class X, 5.52% (3 mo. Term SOFR + 1.26%), 01/15/2035 <sup>(b)</sup> | 736842 | 736833 |
| Sound Point CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-3RA, Class A, 5.68% (3 mo. Term SOFR + 1.41%), 04/18/2031 <sup>(b)</sup> | 4277159 | 4282189 |
| &nbsp;&nbsp;&nbsp;Series 2015-2A, Class ARRR, 5.74% (3 mo. Term SOFR + 1.47%), 07/20/2032 <sup>(b)</sup> | 2945711 | 2948966 |
| &nbsp;&nbsp;&nbsp;Series 2018-1A, Class A, 5.52% (3 mo. Term SOFR + 1.26%), 04/15/2031 <sup>(b)</sup> | 948814 | 949231 |
| Steele Creek CLO Ltd., Series 2014-1RA, Class B, 6.03% (3 mo. Term SOFR + 1.76%), 04/21/2031 <sup>(b)</sup> | 1004394 | 1004765 |
| Symphony CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2014-15A, Class AR3, 5.62% (3 mo. Term SOFR + 1.34%), 01/17/2032 <sup>(b)</sup> | 1726139 | 1728207 |
| &nbsp;&nbsp;&nbsp;Series 2021-26A, Class AR, 5.61% (3 mo. Term SOFR + 1.34%), 04/20/2033 <sup>(b)</sup> | 1650811 | 1649371 |
| TCI-Symphony CLO Ltd., Series 2016-1A, Class AR2, 5.52% (3 mo. Term SOFR + 1.28%), 10/13/2032 <sup>(b)</sup> | 857973 | 858979 |
| THL Credit Lake Shore MM CLO Ltd., Series 2019-2A, Class A1RR, 5.68% (3 mo. Term SOFR + 1.40%), 10/17/2031 <sup>(b)</sup> | 762658 | 762840 |
| TIAA CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;Series 2016-1A, Class ARR, 5.52% (3 mo. Term SOFR + 1.25%), 07/20/2031 <sup>(b)</sup> | 953764 | 954339 |
| &nbsp;&nbsp;&nbsp;Series 2017-2A, Class A, 5.67% (3 mo. Term SOFR + 1.41%), 01/16/2031 <sup>(b)</sup> | 634291 | 634648 |
| Trinitas CLO Ltd., Series 2018-9A, Class ARRR, 5.47% (3 mo. Term SOFR + 1.20%), 01/20/2032 <sup>(b)</sup> | 1962482 | 1962892 |
| Venture CDO Ltd. |  |  |
| Series 2014-18X, Class CR, 6.62% (3 mo. Term SOFR + 2.36%), 10/15/2029  | 897663 | 899154 |
| Series 2018-32A, Class A1, 5.63% (3 mo. Term SOFR + 1.36%), 07/18/2031 <sup>(b)</sup> | 493472 | 493955 |
| Voya CLO Ltd., Series 2019-3A, Class AR, 5.62% (3 mo. Term SOFR + 1.34%), 10/17/2032 <sup>(b)</sup> | 1956094 | 1954993 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $48,943,530) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $48,943,530) | 48923617 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED LOAN OBLIGATIONS - 15.5% (CONTINUED)** | **Par** | **Value**  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series KF130, Class AS, 4.60% (30 day avg SOFR US + 0.29%), 01/25/2029  | $590341 | $588780 |
| &nbsp;&nbsp;&nbsp;Series KF135, Class AS, 4.68% (30 day avg SOFR US + 0.37%), 05/25/2029  | 678948 | 677961 |
| &nbsp;&nbsp;&nbsp;Series KF166, Class AS, 4.91% (30 day avg SOFR US + 0.60%), 01/25/2032  | 2000000 | 2002500 |
| &nbsp;&nbsp;&nbsp;Series KJ49, Class AFL, 4.91% (30 day avg SOFR US + 0.60%), 01/25/2031  | 992937 | 989060 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;Pool AN0287, 2.95%, 11/01/2025  | 1500000 | 1494743 |
| &nbsp;&nbsp;&nbsp;Pool AN3381, 2.52%, 10/01/2026  | 912503 | 891088 |
| &nbsp;&nbsp;&nbsp;Pool AN7890, 3.06%, 12/01/2027  | 2750000 | 2685892 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $9,307,194) |  | 9330024 |
| **SHORT-TERM INVESTMENTS - 11.1%** | **Shares** |  |
| **Money Market Funds - 8.3%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(f)</sup> | 26068335 | 26068335 |
| **U.S. Treasury Bills - 2.8%** | **<u>Par</u>** |  |
| &nbsp;&nbsp;&nbsp;4.24%, 08/07/2025 <sup>(g)</sup> | $2500000 | 2489206 |
| &nbsp;&nbsp;&nbsp;4.36%, 09/04/2025 <sup>(g)</sup> | 3000000 | 2976986 |
| &nbsp;&nbsp;&nbsp;4.11%, 10/02/2025 <sup>(g)</sup> | 3500000 | 3461838 |
|  |  | 8928030 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $34,998,360) |  | 34996365 |
| **TOTAL INVESTMENTS - 103.3% (**Cost $325,076,103**)** |  | $325737889 |
| Liabilities in Excess of Other Assets - (3.3)%  |  | (10552522) |
| **TOTAL NET ASSETS - 100.0%** |  | $315185367 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |

---

(a) 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.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $167,680,476 or 53.2% of the Fund's net assets.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE ENHANCED INCOME SHORT MATURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

(c) Step coupon bond. The rate disclosed is as of June 30, 2025.

(d) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of June 30, 2025.

(e) Represents less than 0.05% of net assets.

(f) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

(g) The rate shown is the annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

---

| |
|:---|
| **SCHEDULE OF FUTURES CONTRACTS** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Contracts Purchased** | **Expiration Date** | **Notional** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | 13 | 09/30/2025 | $2704305 | $11330 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | $**11330** |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3%** | **Shares** | **Value**  |
| **Australia - 5.5%** | |  |
| ANZ Group Holdings Ltd.  | 3542 | $67977 |
| Aristocrat Leisure Ltd.  | 663 | 28437 |
| BHP Group Ltd.  | 5256 | 127127 |
| Commonwealth Bank of Australia  | 1994 | 242457 |
| CSL Ltd.  | 567 | 89367 |
| Macquarie Group Ltd.  | 442 | 66538 |
| National Australia Bank Ltd.  | 3653 | 94630 |
| QBE Insurance Group Ltd.  | 1800 | 27709 |
| Rio Tinto Ltd.  | 429 | 30248 |
| Transurban Group  | 3536 | 32534 |
| Wesfarmers Ltd.  | 1329 | 74129 |
| Westpac Banking Corp.  | 3985 | 88806 |
| Woodside Energy Group Ltd.  | 2171 | 33764 |
| Woolworths Group Ltd.  | 1391 | 28481 |
|  |  | 1032204 |
| **Austria - 0.2%** |  |  |
| Erste Group Bank AG  | 386 | 32874 |
| **Belgium - 0.7%** |  |  |
| Anheuser-Busch InBev SA/NV  | 1169 | 80198 |
| KBC Group NV  | 301 | 31081 |
| UCB SA  | 143 | 28123 |
|  |  | 139402 |
| **Canada - 11.9%** |  |  |
| Agnico Eagle Mines Ltd.  | 609 | 72557 |
| Alimentation Couche-Tard, Inc.  | 832 | 41357 |
| Bank of Montreal  | 825 | 91427 |
| Bank of Nova Scotia  | 1475 | 81562 |
| Barrick Mining Corp.  | 1989 | 41409 |
| Brookfield Corp.  | 1586 | 98159 |
| Cameco Corp.  | 519 | 38543 |
| Canadian Imperial Bank of Commerce  | 1095 | 77726 |
| Canadian National Railway Co.  | 715 | 74501 |
| Canadian Natural Resources Ltd.  | 2405 | 75590 |
| Canadian Pacific Kansas City Ltd.  | 1100 | 87386 |
| Constellation Software, Inc.  | 24 | 88002 |
| Dollarama, Inc.  | 312 | 43961 |
| Enbridge, Inc.  | 2547 | 115496 |
| Fairfax Financial Holdings Ltd.  | 26 | 46931 |
| Fortis, Inc.  | 599 | 28601 |
| Franco-Nevada Corp.  | 221 | 36283 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **Canada - 11.9% (Continued)** | | |
| Intact Financial Corp.  | 208 | $48367 |
| Loblaw Cos. Ltd.  | 168 | 27789 |
| Manulife Financial Corp.  | 2067 | 66089 |
| National Bank of Canada  | 447 | 46126 |
| Nutrien Ltd.  | 612 | 35662 |
| Royal Bank of Canada  | 1687 | 222336 |
| Shopify, Inc. - Class A <sup>(a)</sup> | 1407 | 162279 |
| Sun Life Financial, Inc.  | 663 | 44116 |
| Suncor Energy, Inc.  | 1469 | 55027 |
| TC Energy Corp.  | 1250 | 61024 |
| Thomson Reuters Corp.  | 156 | 31371 |
| Toronto-Dominion Bank  | 1970 | 144898 |
| Waste Connections, Inc.  | 299 | 55854 |
| Wheaton Precious Metals Corp.  | 542 | 48741 |
| WSP Global, Inc.  | 161 | 32841 |
|  |  | 2222011 |
| **Denmark - 2.0%** |  |  |
| Danske Bank AS  | 767 | 31279 |
| DSV AS  | 232 | 55750 |
| Novo Nordisk AS  | 3564 | 247363 |
| Novonesis (Novozymes) B  | 468 | 33553 |
|  |  | 367945 |
| **Finland - 0.8%** |  |  |
| Kone Oyj - Class B  | 388 | 25540 |
| Nokia Oyj  | 6363 | 33024 |
| Nordea Bank Abp  | 3662 | 54395 |
| Sampo Oyj  | 2477 | 26640 |
|  |  | 139599 |
| **France - 11.7%** |  |  |
| Air Liquide SA  | 690 | 142352 |
| Airbus SE  | 694 | 144910 |
| AXA SA  | 2235 | 109706 |
| BNP Paribas SA  | 1256 | 112916 |
| Capgemini SE  | 192 | 32806 |
| Cie de Saint-Gobain SA  | 455 | 53404 |
| Cie Generale des Etablissements Michelin SCA  | 807 | 29982 |
| Credit Agricole SA  | 1417 | 26815 |
| Danone SA  | 777 | 63483 |
| Dassault Systemes SE  | 767 | 27764 |
| Engie SA  | 2098 | 49242 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **France - 11.7% (Continued)** | | |
| EssilorLuxottica SA  | 369 | $101233 |
| Hermes International SCA  | 38 | 102908 |
| Legrand SA  | 299 | 39976 |
| L'Oreal SA  | 286 | 122327 |
| LVMH Moet Hennessy Louis Vuitton SE  | 268 | 140356 |
| Orange SA  | 2340 | 35599 |
| Publicis Groupe SA  | 260 | 29304 |
| Safran SA  | 448 | 145599 |
| Sanofi SA  | 1353 | 131024 |
| Schneider Electric SE  | 663 | 176346 |
| Societe Generale SA  | 930 | 53186 |
| Thales SA  | 116 | 34106 |
| TotalEnergies SE  | 2217 | 136060 |
| Veolia Environnement SA  | 859 | 30609 |
| Vinci SA  | 664 | 97848 |
|  |  | 2169861 |
| **Germany - 10.2%** |  |  |
| adidas AG  | 196 | 45703 |
| Allianz SE  | 447 | 181184 |
| BASF SE  | 1067 | 52613 |
| Bayer AG  | 1079 | 32455 |
| Bayerische Motoren Werke AG  | 338 | 30044 |
| Commerzbank AG  | 1183 | 37319 |
| Deutsche Bank AG  | 2166 | 64220 |
| Deutsche Boerse AG  | 221 | 72085 |
| Deutsche Post AG  | 1105 | 51037 |
| Deutsche Telekom AG  | 4034 | 147165 |
| E.ON SE  | 2647 | 48719 |
| Heidelberg Materials AG  | 157 | 36886 |
| Infineon Technologies AG  | 1471 | 62579 |
| Mercedes-Benz Group AG  | 964 | 56425 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 156 | 101179 |
| Rheinmetall AG  | 52 | 110073 |
| RWE AG  | 800 | 33388 |
| SAP SE  | 1221 | 371292 |
| Siemens AG  | 942 | 241511 |
| Siemens Energy AG <sup>(a)</sup> | 784 | 90560 |
| Vonovia SE  | 971 | 34211 |
|  |  | 1900648 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **Hong Kong - 1.2%** | |  |
| AIA Group Ltd.  | 12510 | $112192 |
| Hong Kong Exchanges & Clearing Ltd.  | 1425 | 76025 |
| Prudential PLC  | 3146 | 39409 |
|  |  | 227626 |
| **Ireland - 0.3%** |  |  |
| Experian PLC  | 1101 | 56703 |
| **Italy - 2.7%** |  |  |
| Enel SpA  | 9151 | 86839 |
| Eni SpA  | 2496 | 40457 |
| Ferrari NV  | 128 | 62739 |
| Generali  | 1266 | 45052 |
| Intesa Sanpaolo SpA  | 18607 | 107213 |
| Leonardo SpA  | 482 | 27128 |
| UniCredit SpA  | 1860 | 124689 |
|  |  | 494117 |
| **Japan - 17.5%** |  |  |
| Advantest Corp.  | 845 | 62522 |
| Aeon Co. Ltd.  | 900 | 27624 |
| Ajinomoto Co., Inc.  | 1200 | 32574 |
| Bridgestone Corp.  | 650 | 26631 |
| Canon, Inc.  | 1105 | 32144 |
| Chugai Pharmaceutical Co. Ltd.  | 728 | 38042 |
| Dai-ichi Life Holdings, Inc.  | 4160 | 31661 |
| Daiichi Sankyo Co. Ltd.  | 2158 | 50426 |
| Daikin Industries Ltd.  | 312 | 36886 |
| Denso Corp.  | 2119 | 28701 |
| Fanuc Corp.  | 1079 | 29522 |
| Fast Retailing Co. Ltd.  | 210 | 72214 |
| Fujifilm Holdings Corp.  | 1500 | 32728 |
| Fujitsu Ltd.  | 2028 | 49501 |
| Hitachi Ltd.  | 5288 | 154412 |
| Honda Motor Co. Ltd.  | 4826 | 46733 |
| Hoya Corp.  | 390 | 46460 |
| ITOCHU Corp.  | 1625 | 85264 |
| Japan Tobacco, Inc.  | 1248 | 36815 |
| KDDI Corp.  | 3654 | 62928 |
| Keyence Corp.  | 221 | 88765 |
| Komatsu Ltd.  | 1066 | 35066 |
| Marubeni Corp.  | 1872 | 37868 |
| Mitsubishi Corp.  | 4407 | 88382 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **Japan - 17.5% (Continued)** | | |
| Mitsubishi Electric Corp.  | 2449 | $52907 |
| Mitsubishi Heavy Industries Ltd.  | 3787 | 94935 |
| Mitsubishi UFJ Financial Group, Inc.  | 11830 | 162903 |
| Mitsui & Co. Ltd.  | 3171 | 64893 |
| Mitsui Fudosan Co. Ltd.  | 2964 | 28713 |
| Mizuho Financial Group, Inc.  | 2730 | 75698 |
| MS&AD Insurance Group Holdings, Inc.  | 1517 | 34026 |
| Murata Manufacturing Co. Ltd.  | 2106 | 31501 |
| NEC Corp.  | 1430 | 41896 |
| Nintendo Co. Ltd.  | 1360 | 131084 |
| Nippon Telegraph & Telephone Corp.  | 59670 | 63812 |
| Oriental Land Co. Ltd.  | 1170 | 27007 |
| ORIX Corp.  | 1235 | 27958 |
| Panasonic Holdings Corp.  | 2638 | 28495 |
| Recruit Holdings Co. Ltd.  | 1586 | 94000 |
| Seven & i Holdings Co. Ltd.  | 2712 | 43748 |
| Shin-Etsu Chemical Co. Ltd.  | 2249 | 74527 |
| SoftBank Corp.  | 32986 | 51081 |
| SoftBank Group Corp.  | 1144 | 83533 |
| Sompo Holdings, Inc.  | 1040 | 31379 |
| Sony Group Corp.  | 7090 | 183644 |
| Sumitomo Corp.  | 1326 | 34337 |
| Sumitomo Mitsui Financial Group, Inc.  | 4083 | 103035 |
| Takeda Pharmaceutical Co. Ltd.  | 1764 | 54204 |
| Terumo Corp.  | 1612 | 29664 |
| Tokio Marine Holdings, Inc.  | 2093 | 88819 |
| Tokyo Electron Ltd.  | 521 | 100144 |
| Toyota Motor Corp.  | 10631 | 184043 |
|  |  | 3255855 |
| **Netherlands - 4.4%** |  |  |
| Adyen NV <sup>(a)(b)</sup> | 35 | 64250 |
| Argenx SE <sup>(a)</sup> | 72 | 39845 |
| ASM International NV  | 52 | 33285 |
| ASML Holding NV  | 412 | 328851 |
| Ferrovial SE  | 609 | 32468 |
| Heineken NV  | 325 | 28338 |
| ING Groep NV  | 3651 | 80105 |
| Koninklijke Ahold Delhaize NV  | 1079 | 45121 |
| Prosus NV  | 1510 | 84435 |
| Universal Music Group NV  | 898 | 29068 |
| Wolters Kluwer NV  | 273 | 45649 |
|  |  | 811415 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **Norway - 0.1%** | |  |
| DNB Bank ASA  | 969 | $26784 |
| **Singapore - 1.5%** |  |  |
| DBS Group Holdings Ltd.  | 2404 | 84910 |
| Oversea-Chinese Banking Corp. Ltd.  | 4583 | 58788 |
| Sea Ltd. - ADR <sup>(a)</sup> | 324 | 51821 |
| Singapore Telecommunications Ltd.  | 9790 | 29412 |
| United Overseas Bank Ltd.  | 1747 | 49463 |
|  |  | 274394 |
| **Spain - 2.9%** |  |  |
| Amadeus IT Group SA  | 534 | 44963 |
| Banco Bilbao Vizcaya Argentaria SA  | 6921 | 106432 |
| Banco Santander SA  | 17329 | 143440 |
| CaixaBank SA  | 4020 | 34824 |
| Iberdrola SA  | 7471 | 143360 |
| Industria de Diseno Textil SA  | 1304 | 67863 |
|  |  | 540882 |
| **Sweden - 1.7%** |  |  |
| Assa Abloy AB - Class B  | 1118 | 34884 |
| Atlas Copco AB - Class A  | 3080 | 49760 |
| Investor AB  | 2174 | 64283 |
| Sandvik AB  | 1196 | 27419 |
| Skandinaviska Enskilda Banken AB - Class A  | 1730 | 30190 |
| Swedbank AB - Class A  | 1248 | 33044 |
| Telefonaktiebolaget LM Ericsson - Class B  | 3601 | 30807 |
| Volvo AB - Class B  | 1770 | 49653 |
|  |  | 320040 |
| **Switzerland - 9.5%** |  |  |
| ABB Ltd.  | 1855 | 110606 |
| Alcon AG  | 596 | 52731 |
| Cie Financiere Richemont SA  | 552 | 103972 |
| Geberit AG  | 39 | 30671 |
| Givaudan SA  | 9 | 43568 |
| Glencore PLC  | 13425 | 52261 |
| Holcim AG  | 596 | 44243 |
| Lonza Group AG  | 87 | 61951 |
| Nestle SA  | 2658 | 264075 |
| Novartis AG  | 2342 | 283862 |
| Partners Group Holding AG  | 26 | 33915 |
| Roche Holding AG  | 833 | 271280 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **Switzerland - 9.5% (Continued)** | | |
| Sandoz Group AG  | 524 | $28675 |
| Sika AG  | 194 | 52666 |
| Swiss Life Holding AG  | 35 | 35403 |
| Swiss Re AG  | 353 | 61017 |
| UBS Group AG  | 3465 | 117254 |
| Zurich Insurance Group AG  | 172 | 120223 |
|  |  | 1768373 |
| **United Kingdom - 14.0%** |  |  |
| 3i Group PLC  | 1154 | 65262 |
| Anglo American PLC  | 1292 | 38129 |
| Ashtead Group PLC  | 494 | 31660 |
| AstraZeneca PLC  | 1580 | 219481 |
| Aviva PLC - Class B <sup>(a)</sup> | 3160 | 26858 |
| BAE Systems PLC  | 3603 | 93300 |
| Barclays PLC  | 17160 | 79450 |
| BP PLC  | 17612 | 88408 |
| British American Tobacco PLC  | 2597 | 123448 |
| Compass Group PLC  | 2067 | 69995 |
| Diageo PLC  | 2623 | 65816 |
| GSK PLC  | 4654 | 88797 |
| Haleon PLC  | 10772 | 55359 |
| Halma PLC  | 406 | 17833 |
| HSBC Holdings PLC  | 21095 | 255334 |
| Imperial Brands PLC  | 988 | 39017 |
| Intertek Group PLC  | 162 | 10540 |
| Lloyds Banking Group PLC  | 72397 | 76221 |
| London Stock Exchange Group PLC  | 581 | 84815 |
| National Grid PLC  | 5683 | 82805 |
| NatWest Group PLC  | 9362 | 65718 |
| Reckitt Benckiser Group PLC  | 806 | 54820 |
| Relx PLC  | 2231 | 120566 |
| Rio Tinto PLC  | 1262 | 73535 |
| Rolls-Royce Holdings PLC  | 10027 | 133176 |
| Shell PLC  | 7141 | 250296 |
| SSE PLC  | 1239 | 31140 |
| Standard Chartered PLC  | 2964 | 49107 |
| Tesco PLC  | 8047 | 44326 |
| Unilever PLC  | 2885 | 175234 |
|  |  | 2610446 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE INTERNATIONAL DEVELOPED MARKETS ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.3% (CONTINUED)** | **Shares** | **Value**  |
| **United States - 0.5%** | |  |
| Brookfield Asset Management Ltd. - Class A  | 465 | $25737 |
| Flutter Entertainment PLC <sup>(a)</sup> | 207 | 58646 |
|  |  | 84383 |
| **TOTAL COMMON STOCKS** (Cost $16,157,998) |  | 18475562 |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON - 0.2%** |  |  |
| **Australia - 0.2%** |  |  |
| Goodman Group  | 2107 | 47482 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $48,331) |  | 47482 |
| **SHORT-TERM INVESTMENTS - 0.2%** |  |  |
| **Money Market Funds - 0.2%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(c)</sup> | 34377 | 34377 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $34,377) |  | 34377 |
| **TOTAL INVESTMENTS - 99.7% (**Cost $16,240,706**)** |  | $18557421 |
| Other Assets in Excess of Liabilities - 0.3%  |  | 49453 |
| **TOTAL NET ASSETS - 100.0%** |  | $18606874 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| ADR - American Depositary Receipt |
| ASA - Advanced Subscription Agreement |
| PLC - Public Limited Company |

---

(a) Non-income producing security.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $64,250 or 0.3% of the Fund's net assets.

(c) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 2.5%** | |  |
| **Advertising - 0.2%** |  |  |
| Interpublic Group of Cos., Inc.  | 1820 | $44554 |
| **Broadcasting - 0.2%** |  |  |
| Paramount Global - Class A  | 65 | 1492 |
| Paramount Global - Class B  | 2564 | 33075 |
|  |  | 34567 |
| **Cable & Satellite - 0.6%** |  |  |
| EchoStar Corp. - Class A <sup>(a)</sup> | 574 | 15900 |
| Liberty Broadband Corp. - Class A <sup>(a)</sup> | 75 | 7336 |
| Liberty Broadband Corp. - Class C <sup>(a)</sup> | 558 | 54896 |
| Sirius XM Holdings, Inc.  | 937 | 21523 |
|  |  | 99655 |
| **Integrated Telecommunication Services - 0.3%** |  |  |
| Frontier Communications Parent, Inc. <sup>(a)</sup> | 1236 | 44991 |
| **Interactive Media & Services - 0.2%** |  |  |
| Match Group, Inc.  | 1214 | 37501 |
| **Movies & Entertainment - 0.3%** |  |  |
| Roku, Inc. <sup>(a)</sup> | 617 | 54228 |
| **Publishing - 0.7%** |  |  |
| New York Times Co. - Class A  | 771 | 43161 |
| News Corp. - Class A  | 1820 | 54090 |
| News Corp. - Class B  | 585 | 20071 |
|  |  | 117322 |
| **Total Communication Services** |  | 432818 |
| **<u>Consumer Discretionary</u> - 12.9%** |  |  |
| **Apparel Retail - 0.6%** |  |  |
| Burlington Stores, Inc. <sup>(a)</sup> | 309 | 71886 |
| Gap, Inc.  | 1238 | 27001 |
|  |  | 98887 |
| **Apparel, Accessories & Luxury Goods - 1.0%** |  |  |
| Levi Strauss & Co. - Class A  | 455 | 8413 |
| Ralph Lauren Corp.  | 185 | 50742 |
| Tapestry, Inc.  | 1036 | 90971 |
| VF Corp.  | 1876 | 22043 |
|  |  | 172169 |
| **Automobile Manufacturers - 0.1%** |  |  |
| Lucid Group, Inc. <sup>(a)</sup> | 5809 | 12257 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Automotive Parts & Equipment - 0.2%** |  |  |
| BorgWarner, Inc.  | 1105 | $36995 |
| **Automotive Retail - 1.1%** |  |  |
| AutoNation, Inc. <sup>(a)</sup> | 173 | 34366 |
| CarMax, Inc. <sup>(a)</sup> | 762 | 51214 |
| Lithia Motors, Inc.  | 130 | 43917 |
| Murphy USA, Inc.  | 91 | 37019 |
| Penske Automotive Group, Inc.  | 88 | 15119 |
|  |  | 181635 |
| **Broadline Retail - 0.3%** |  |  |
| Dillard's, Inc. - Class A  | 14 | 5849 |
| Ollie's Bargain Outlet Holdings, Inc. <sup>(a)</sup> | 296 | 39007 |
|  |  | 44856 |
| **Casinos & Gaming - 1.1%** |  |  |
| Boyd Gaming Corp.  | 297 | 23235 |
| Caesars Entertainment, Inc. <sup>(a)</sup> | 975 | 27680 |
| Churchill Downs, Inc.  | 326 | 32926 |
| Light & Wonder, Inc. <sup>(a)</sup> | 428 | 41199 |
| MGM Resorts International <sup>(a)</sup> | 972 | 33427 |
| Wynn Resorts Ltd.  | 413 | 38686 |
|  |  | 197153 |
| **Computer & Electronics Retail - 0.3%** |  |  |
| GameStop Corp. - Class A <sup>(a)</sup> | 2026 | 49414 |
| **Consumer Discretionary - 0.2%** |  |  |
| Viking Holdings Ltd. <sup>(a)</sup> | 819 | 43645 |
| **Distributors - 0.6%** |  |  |
| LKQ Corp.  | 1257 | 46522 |
| Pool Corp.  | 178 | 51883 |
|  |  | 98405 |
| **Education Services - 0.6%** |  |  |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 279 | 34481 |
| Duolingo, Inc. <sup>(a)</sup> | 184 | 75444 |
|  |  | 109925 |
| **Footwear - 0.6%** |  |  |
| On Holding AG - Class A <sup>(a)</sup> | 1159 | 60326 |
| Skechers USA, Inc. - Class A <sup>(a)</sup> | 650 | 41015 |
|  |  | 101341 |
| **Home Furnishings - 0.6%** |  |  |
| Mohawk Industries, Inc. <sup>(a)</sup> | 260 | 27258 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Home Furnishings - 0.6% (Continued)** | | |
| Somnigroup International, Inc.  | 1017 | $69207 |
|  |  | 96465 |
| **Home Improvement Retail - 0.2%** |  |  |
| Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 530 | 40259 |
| **Homebuilding - 0.8%** |  |  |
| Taylor Morrison Home Corp. <sup>(a)</sup> | 481 | 29543 |
| Toll Brothers, Inc.  | 486 | 55467 |
| TopBuild Corp. <sup>(a)</sup> | 142 | 45971 |
|  |  | 130981 |
| **Homefurnishing Retail - 0.1%** |  |  |
| RH <sup>(a)</sup> | 73 | 13798 |
| **Hotels, Resorts & Cruise Lines - 0.7%** |  |  |
| Choice Hotels International, Inc.  | 130 | 16494 |
| Hyatt Hotels Corp. - Class A  | 203 | 28349 |
| Norwegian Cruise Line Holdings Ltd. <sup>(a)</sup> | 2123 | 43055 |
| Wyndham Hotels & Resorts, Inc.  | 368 | 29885 |
|  |  | 117783 |
| **Household Appliances - 0.3%** |  |  |
| SharkNinja, Inc. <sup>(a)</sup> | 341 | 33755 |
| Whirlpool Corp.  | 266 | 26978 |
|  |  | 60733 |
| **Leisure Facilities - 0.3%** |  |  |
| Planet Fitness, Inc. - Class A <sup>(a)</sup> | 405 | 44165 |
| **Leisure Products - 0.3%** |  |  |
| Hasbro, Inc.  | 635 | 46876 |
| **Other Specialty Retail - 0.7%** |  |  |
| Bath & Body Works, Inc.  | 1059 | 31728 |
| Chewy, Inc. - Class A <sup>(a)</sup> | 868 | 36994 |
| Dick's Sporting Goods, Inc.  | 266 | 52617 |
|  |  | 121339 |
| **Restaurants - 1.6%** |  |  |
| Aramark  | 1278 | 53510 |
| Brinker International, Inc. <sup>(a)</sup> | 210 | 37869 |
| Cava Group, Inc. <sup>(a)</sup> | 487 | 41020 |
| Dutch Bros, Inc. - Class A <sup>(a)</sup> | 568 | 38834 |
| Texas Roadhouse, Inc.  | 328 | 61471 |
| Wingstop, Inc.  | 141 | 47480 |
|  |  | 280184 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Specialized Consumer Services - 0.6%** |  |  |
| ADT, Inc.  | 1746 | $14789 |
| H&R Block, Inc.  | 657 | 36063 |
| Service Corp. International/US  | 698 | 56817 |
|  |  | 107669 |
| **Total Consumer Discretionary** |  | 2206934 |
| **<u>Consumer Staples</u> - 5.5%** |  |  |
| **Agricultural Products & Services - 0.5%** |  |  |
| Bunge Global SA  | 651 | 52262 |
| Ingredion, Inc.  | 311 | 42178 |
|  |  | 94440 |
| **Brewers - 0.2%** |  |  |
| Molson Coors Beverage Co. - Class B  | 854 | 41069 |
| **Consumer Staples Merchandise Retail - 0.4%** |  |  |
| BJ's Wholesale Club Holdings, Inc. <sup>(a)</sup> | 651 | 70197 |
| **Drug Retail - 0.2%** |  |  |
| Walgreens Boots Alliance, Inc.  | 3414 | 39193 |
| **Food Distributors - 0.9%** |  |  |
| Performance Food Group Co. <sup>(a)</sup> | 745 | 65165 |
| US Foods Holding Corp. <sup>(a)</sup> | 1126 | 86713 |
|  |  | 151878 |
| **Food Retail - 1.5%** |  |  |
| Albertsons Cos., Inc. - Class A  | 1707 | 36717 |
| Casey's General Stores, Inc.  | 186 | 94910 |
| Maplebear, Inc. <sup>(a)</sup> | 1007 | 45557 |
| Sprouts Farmers Market, Inc. <sup>(a)</sup> | 481 | 79192 |
|  |  | 256376 |
| **Packaged Foods & Meats - 1.1%** |  |  |
| Conagra Brands, Inc.  | 2394 | 49005 |
| Freshpet, Inc. <sup>(a)</sup> | 230 | 15631 |
| J M Smucker Co.  | 494 | 48511 |
| Lamb Weston Holdings, Inc.  | 719 | 37280 |
| Pilgrim's Pride Corp.  | 195 | 8771 |
| The Campbell's Co.  | 955 | 29271 |
|  |  | 188469 |
| **Personal Care Products - 0.3%** |  |  |
| BellRing Brands, Inc. <sup>(a)</sup> | 620 | 35917 |
| Coty, Inc. - Class A <sup>(a)</sup> | 1885 | 8765 |
|  |  | 44682 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Soft Drinks & Non-alcoholic Beverages - 0.4%** |  |  |
| Coca-Cola Consolidated, Inc.  | 271 | $30257 |
| Primo Brands Corp.  | 1078 | 31931 |
|  |  | 62188 |
| **Total Consumer Staples** |  | 948492 |
| **<u>Energy</u> - 2.7%** |  |  |
| **Oil & Gas Exploration & Production - 1.8%** |  |  |
| Antero Resources Corp. <sup>(a)</sup> | 1407 | 56674 |
| APA Corp.  | 1773 | 32428 |
| Chord Energy Corp.  | 287 | 27796 |
| Matador Resources Co.  | 559 | 26675 |
| Ovintiv, Inc.  | 1248 | 47486 |
| Permian Resources Corp.  | 3280 | 44674 |
| Range Resources Corp.  | 1144 | 46527 |
| Viper Energy, Inc.  | 682 | 26005 |
|  |  | 308265 |
| **Oil & Gas Refining & Marketing - 0.2%** |  |  |
| HF Sinclair Corp.  | 795 | 32658 |
| **Oil & Gas Storage & Transportation - 0.7%** |  |  |
| Antero Midstream Corp.  | 1625 | 30794 |
| DT Midstream, Inc.  | 488 | 53636 |
| Hess Midstream LP - Class A  | 546 | 21026 |
| Kinetik Holdings, Inc.  | 253 | 11145 |
|  |  | 116601 |
| **Total Energy** |  | 457524 |
| **<u>Financials</u> - 15.2%** |  |  |
| **Asset Management & Custody Banks - 1.5%** |  |  |
| Carlyle Group, Inc.  | 1262 | 64867 |
| Franklin Resources, Inc.  | 1629 | 38852 |
| Hamilton Lane, Inc. - Class A  | 180 | 25581 |
| Invesco Ltd.  | 2145 | 33827 |
| Janus Henderson Group PLC  | 610 | 23692 |
| SEI Investments Co.  | 585 | 52568 |
| StepStone Group, Inc. - Class A  | 348 | 19314 |
|  |  | 258701 |
| **Commercial & Residential Mortgage Finance - 0.3%** |  |  |
| Mr Cooper Group, Inc. <sup>(a)</sup> | 315 | 47001 |
| UWM Holdings Corp.  | 743 | 3076 |
|  |  | 50077 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Consumer Finance - 1.0%** |  |  |
| Ally Financial, Inc.  | 1300 | $50635 |
| OneMain Holdings, Inc.  | 585 | 33345 |
| SoFi Technologies, Inc. <sup>(a)</sup> | 5175 | 94237 |
|  |  | 178217 |
| **Diversified Banks - 0.8%** |  |  |
| Comerica, Inc.  | 632 | 37699 |
| KeyCorp  | 5380 | 93719 |
|  |  | 131418 |
| **Diversified Financial Services - 0.9%** |  |  |
| Equitable Holdings, Inc.  | 1545 | 86675 |
| Jackson Financial, Inc. - Class A  | 351 | 31165 |
| Voya Financial, Inc.  | 472 | 33512 |
|  |  | 151352 |
| **Financial Exchanges & Data - 0.4%** |  |  |
| MarketAxess Holdings, Inc.  | 175 | 39085 |
| Morningstar, Inc.  | 124 | 38927 |
|  |  | 78012 |
| **Insurance Brokers - 0.2%** |  |  |
| Ryan Specialty Holdings, Inc.  | 538 | 36579 |
| **Investment Banking & Brokerage - 1.2%** |  |  |
| Evercore, Inc. - Class A  | 185 | 49954 |
| Houlihan Lokey, Inc.  | 261 | 46967 |
| Jefferies Financial Group, Inc.  | 715 | 39103 |
| PJT Partners, Inc. - Class A  | 104 | 17161 |
| Stifel Financial Corp.  | 471 | 48881 |
|  |  | 202066 |
| **Life & Health Insurance - 0.9%** |  |  |
| Globe Life, Inc.  | 398 | 49467 |
| Primerica, Inc.  | 160 | 43787 |
| Unum Group  | 847 | 68404 |
|  |  | 161658 |
| **Property & Casualty Insurance - 2.1%** |  |  |
| American Financial Group, Inc.  | 352 | 44426 |
| Assurant, Inc.  | 248 | 48978 |
| Axis Capital Holdings Ltd.  | 364 | 37791 |
| Fidelity National Financial, Inc.  | 1286 | 72093 |
| First American Financial Corp.  | 479 | 29406 |
| Kinsale Capital Group, Inc.  | 107 | 51777 |
| Old Republic International Corp.  | 1135 | 43629 |
| RLI Corp.  | 429 | 30982 |
|  |  | 359082 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 3.5%** |  |  |
| BOK Financial Corp.  | 105 | $10251 |
| Commerce Bancshares, Inc.  | 638 | 39664 |
| Cullen/Frost Bankers, Inc.  | 287 | 36891 |
| East West Bancorp, Inc.  | 683 | 68969 |
| First Horizon Corp.  | 2567 | 54420 |
| Old National Bancorp  | 1511 | 32245 |
| Pinnacle Financial Partners, Inc.  | 363 | 40079 |
| Popular, Inc.  | 353 | 38904 |
| Prosperity Bancshares, Inc.  | 441 | 30976 |
| SouthState Corp.  | 497 | 45739 |
| Synovus Financial Corp.  | 676 | 34983 |
| Webster Financial Corp.  | 825 | 45045 |
| Western Alliance Bancorp  | 523 | 40784 |
| Wintrust Financial Corp.  | 315 | 39054 |
| Zions Bancorp NA  | 715 | 37137 |
|  |  | 595141 |
| **Reinsurance - 1.2%** |  |  |
| Everest Group Ltd.  | 232 | 78845 |
| Reinsurance Group of America, Inc.  | 335 | 66450 |
| RenaissanceRe Holdings Ltd.  | 234 | 56839 |
|  |  | 202134 |
| **Transaction & Payment Processing Services - 1.2%** |  |  |
| Affirm Holdings, Inc. <sup>(a)</sup> | 1261 | 87186 |
| Jack Henry & Associates, Inc.  | 358 | 64501 |
| Shift4 Payments, Inc. - Class A <sup>(a)</sup> | 328 | 32508 |
| WEX, Inc. <sup>(a)</sup> | 167 | 24531 |
|  |  | 208726 |
| **Total Financials** |  | 2613163 |
| **<u>Health Care</u> - 9.1%** |  |  |
| **Biotechnology - 3.1%** |  |  |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | 920 | 50572 |
| Blueprint Medicines Corp. <sup>(a)</sup> | 333 | 42684 |
| Bridgebio Pharma, Inc. <sup>(a)</sup> | 746 | 32212 |
| Exact Sciences Corp. <sup>(a)</sup> | 917 | 48729 |
| Exelixis, Inc. <sup>(a)</sup> | 1303 | 57430 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup> | 611 | 31784 |
| Insmed, Inc. <sup>(a)</sup> | 892 | 89771 |
| Madrigal Pharmaceuticals, Inc. <sup>(a)</sup> | 87 | 26330 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 481 | 60457 |
| Revolution Medicines, Inc. <sup>(a)</sup> | 827 | 30425 |
| Roivant Sciences Ltd. <sup>(a)</sup> | 2106 | 23735 |
| Sarepta Therapeutics, Inc. <sup>(a)</sup> | 441 | 7541 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Biotechnology - 3.1% (Continued)** | | |
| Summit Therapeutics, Inc. <sup>(a)</sup> | 372 | $7916 |
| Vaxcyte, Inc. <sup>(a)</sup> | 574 | 18661 |
|  |  | 528247 |
| **Health Care Distributors - 0.3%** |  |  |
| Henry Schein, Inc. <sup>(a)</sup> | 598 | 43684 |
| **Health Care Equipment - 1.0%** |  |  |
| Glaukos Corp. <sup>(a)</sup> | 263 | 27165 |
| Globus Medical, Inc. - Class A <sup>(a)</sup> | 549 | 32402 |
| Masimo Corp. <sup>(a)</sup> | 256 | 43064 |
| Penumbra, Inc. <sup>(a)</sup> | 191 | 49017 |
| Teleflex, Inc.  | 219 | 25921 |
|  |  | 177569 |
| **Health Care Facilities - 1.3%** |  |  |
| Encompass Health Corp.  | 482 | 59108 |
| Ensign Group, Inc.  | 273 | 42113 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 462 | 81312 |
| Universal Health Services, Inc. - Class B  | 269 | 48729 |
|  |  | 231262 |
| **Health Care Services - 0.6%** |  |  |
| Chemed Corp.  | 72 | 35059 |
| DaVita, Inc. <sup>(a)</sup> | 186 | 26495 |
| Hims & Hers Health, Inc. <sup>(a)</sup> | 888 | 44267 |
|  |  | 105821 |
| **Health Care Supplies - 0.5%** |  |  |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 327 | 26768 |
| Solventum Corp. <sup>(a)</sup> | 710 | 53847 |
|  |  | 80615 |
| **Health Care Technology - 0.3%** |  |  |
| Doximity, Inc. - Class A <sup>(a)</sup> | 542 | 33246 |
| Waystar Holding Corp. <sup>(a)</sup> | 410 | 16757 |
|  |  | 50003 |
| **Life Sciences Tools & Services - 1.3%** |  |  |
| Bio-Rad Laboratories, Inc. - Class A <sup>(a)</sup> | 90 | 21719 |
| Bio-Techne Corp.  | 805 | 41417 |
| Bruker Corp.  | 507 | 20888 |
| Charles River Laboratories International, Inc. <sup>(a)</sup> | 239 | 36264 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 113 | 35466 |
| Repligen Corp. <sup>(a)</sup> | 261 | 32463 |
| Tempus AI, Inc. <sup>(a)</sup> | 492 | 31262 |
|  |  | 219479 |
| **Managed Health Care - 0.2%** |  |  |
| HealthEquity, Inc. <sup>(a)</sup> | 415 | 43475 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Pharmaceuticals - 0.5%** |  |  |
| Jazz Pharmaceuticals PLC <sup>(a)</sup> | 283 | $30032 |
| Viatris, Inc.  | 5789 | 51696 |
|  |  | 81728 |
| **Total Health Care** |  | 1561883 |
| **<u>Industrials</u> - 22.2%** |  |  |
| **Aerospace & Defense - 3.1%** |  |  |
| ATI, Inc. <sup>(a)</sup> | 686 | 59229 |
| BWX Technologies, Inc.  | 463 | 66700 |
| Curtiss-Wright Corp.  | 183 | 89405 |
| Huntington Ingalls Industries, Inc.  | 184 | 44428 |
| Leonardo DRS, Inc.  | 347 | 16128 |
| Loar Holdings, Inc. <sup>(a)</sup> | 163 | 14046 |
| Rocket Lab Corp. <sup>(a)</sup> | 2151 | 76941 |
| StandardAero, Inc. <sup>(a)</sup> | 489 | 15477 |
| Textron, Inc.  | 882 | 70816 |
| Woodward, Inc.  | 289 | 70831 |
|  |  | 524001 |
| **Agricultural & Farm Machinery - 0.7%** |  |  |
| AGCO Corp.  | 326 | 33630 |
| CNH Industrial NV  | 3908 | 50648 |
| Toro Co.  | 502 | 35481 |
|  |  | 119759 |
| **Air Freight & Logistics - 0.3%** |  |  |
| CH Robinson Worldwide, Inc.  | 565 | 54212 |
| **Building Products - 2.9%** |  |  |
| A O Smith Corp.  | 585 | 38358 |
| AAON, Inc.  | 325 | 23969 |
| Advanced Drainage Systems, Inc.  | 370 | 42498 |
| Allegion PLC  | 422 | 60819 |
| AZEK Co., Inc. <sup>(a)</sup> | 715 | 38860 |
| Carlisle Cos., Inc.  | 211 | 78787 |
| Fortune Brands Innovations, Inc.  | 593 | 30528 |
| Owens Corning  | 413 | 56796 |
| Simpson Manufacturing Co., Inc.  | 206 | 31994 |
| Trex Co., Inc. <sup>(a)</sup> | 520 | 28278 |
| UFP Industries, Inc.  | 290 | 28814 |
| Zurn Elkay Water Solutions Corp.  | 845 | 30902 |
|  |  | 490603 |
| **Cargo Ground Transportation - 1.1%** |  |  |
| Knight-Swift Transportation Holdings, Inc.  | 761 | 33659 |
| Ryder System, Inc.  | 188 | 29892 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Cargo Ground Transportation - 1.1% (Continued)** | | |
| Saia, Inc. <sup>(a)</sup> | 131 | $35893 |
| U-Haul Holding Co.  | 485 | 26369 |
| U-Haul Holding Co. <sup>(a)</sup> | 41 | 2483 |
| XPO, Inc. <sup>(a)</sup> | 543 | 68576 |
|  |  | 196872 |
| **Construction & Engineering - 2.9%** |  |  |
| AECOM  | 650 | 73359 |
| API Group Corp. <sup>(a)</sup> | 1185 | 60494 |
| Comfort Systems USA, Inc.  | 171 | 91692 |
| EMCOR Group, Inc.  | 222 | 118746 |
| Fluor Corp. <sup>(a)</sup> | 823 | 42195 |
| MasTec, Inc. <sup>(a)</sup> | 304 | 51811 |
| Valmont Industries, Inc.  | 94 | 30697 |
| WillScot Holdings Corp.  | 868 | 23783 |
|  |  | 492777 |
| **Construction Machinery & Heavy Transportation Equipment - 0.2%** |  |  |
| Allison Transmission Holdings, Inc.  | 417 | 39611 |
| **Data Processing & Outsourced Services - 0.4%** |  |  |
| ExlService Holdings, Inc. <sup>(a)</sup> | 802 | 35120 |
| Genpact Ltd.  | 849 | 37364 |
|  |  | 72484 |
| **Electrical Components & Equipment - 1.1%** |  |  |
| Acuity Brands, Inc.  | 151 | 45049 |
| Generac Holdings, Inc. <sup>(a)</sup> | 287 | 41101 |
| nVent Electric PLC  | 803 | 58820 |
| Regal Rexnord Corp.  | 325 | 47112 |
|  |  | 192082 |
| **Environmental & Facilities Services - 0.8%** |  |  |
| Casella Waste Systems, Inc. - Class A <sup>(a)</sup> | 299 | 34498 |
| Clean Harbors, Inc. <sup>(a)</sup> | 237 | 54790 |
| Tetra Tech, Inc.  | 1302 | 46820 |
|  |  | 136108 |
| **Human Resource & Employment Services - 1.0%** |  |  |
| Dayforce, Inc. <sup>(a)</sup> | 745 | 41266 |
| Paycom Software, Inc.  | 261 | 60395 |
| Paylocity Holding Corp. <sup>(a)</sup> | 229 | 41492 |
| Robert Half, Inc.  | 519 | 21305 |
|  |  | 164458 |
| **Industrial Machinery & Supplies & Components - 4.8%** |  |  |
| Chart Industries, Inc. <sup>(a)</sup> | 208 | 34247 |
| Crane Co.  | 238 | 45194 |
| Donaldson Co., Inc.  | 574 | 39807 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Industrial Machinery & Supplies & Components - 4.8% (Continued)** | | |
| Esab Corp.  | 275 | $33151 |
| Flowserve Corp.  | 640 | 33504 |
| Graco, Inc.  | 814 | 69980 |
| ITT, Inc.  | 398 | 62418 |
| JBT Marel Corp.  | 252 | 30306 |
| Lincoln Electric Holdings, Inc.  | 272 | 56391 |
| Middleby Corp. <sup>(a)</sup> | 260 | 37440 |
| Mueller Industries, Inc.  | 540 | 42914 |
| Nordson Corp.  | 250 | 53593 |
| Pentair PLC  | 800 | 82128 |
| RBC Bearings, Inc. <sup>(a)</sup> | 149 | 57335 |
| Snap-on, Inc.  | 252 | 78417 |
| SPX Technologies, Inc. <sup>(a)</sup> | 227 | 38063 |
| Watts Water Technologies, Inc. - Class A  | 130 | 31966 |
|  |  | 826854 |
| **Passenger Airlines - 0.1%** |  |  |
| Alaska Air Group, Inc. <sup>(a)</sup> | 153 | 7570 |
| American Airlines Group, Inc. <sup>(a)</sup> | 780 | 8752 |
|  |  | 16322 |
| **Research & Consulting Services - 0.9%** |  |  |
| CACI International, Inc. - Class A <sup>(a)</sup> | 107 | 51007 |
| FTI Consulting, Inc. <sup>(a)</sup> | 166 | 26809 |
| KBR, Inc.  | 650 | 31161 |
| Parsons Corp. <sup>(a)</sup> | 246 | 17655 |
| UL Solutions, Inc.  | 297 | 21640 |
|  |  | 148272 |
| **Trading Companies & Distributors - 1.9%** |  |  |
| AerCap Holdings NV  | 892 | 104364 |
| Applied Industrial Technologies, Inc.  | 191 | 44398 |
| Core & Main, Inc. - Class A <sup>(a)</sup> | 952 | 57453 |
| FTAI Aviation Ltd.  | 497 | 57175 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 215 | 26002 |
| Wesco International, Inc.  | 235 | 43522 |
|  |  | 332914 |
| **Total Industrials** |  | 3807329 |
| **<u>Information Technology</u> - 13.8%** |  |  |
| **Application Software - 4.6%** |  |  |
| Appfolio, Inc. - Class A <sup>(a)</sup> | 101 | 23258 |
| Aurora Innovation, Inc. <sup>(a)</sup> | 5513 | 28888 |
| BILL Holdings, Inc. <sup>(a)</sup> | 485 | 22436 |
| CCC Intelligent Solutions Holdings, Inc. <sup>(a)</sup> | 2421 | 22782 |
| Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 1230 | 26974 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Application Software - 4.6% (Continued)** | | |
| Confluent, Inc. - Class A <sup>(a)</sup> | 1300 | $32409 |
| Docusign, Inc. <sup>(a)</sup> | 975 | 75943 |
| Dropbox, Inc. - Class A <sup>(a)</sup> | 955 | 27313 |
| Dynatrace, Inc. <sup>(a)</sup> | 1431 | 79006 |
| Elastic NV <sup>(a)</sup> | 434 | 36599 |
| Guidewire Software, Inc. <sup>(a)</sup> | 410 | 96535 |
| Informatica, Inc. - Class A <sup>(a)</sup> | 529 | 12881 |
| Klaviyo, Inc. - Class A <sup>(a)</sup> | 474 | 15917 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 292 | 57661 |
| Nutanix, Inc. - Class A <sup>(a)</sup> | 1266 | 96773 |
| Pegasystems, Inc.  | 440 | 23817 |
| Procore Technologies, Inc. <sup>(a)</sup> | 583 | 39889 |
| SPS Commerce, Inc. <sup>(a)</sup> | 178 | 24224 |
| Unity Software, Inc. <sup>(a)</sup> | 1421 | 34388 |
| Vertex, Inc. - Class A <sup>(a)</sup> | 283 | 10000 |
|  |  | 787693 |
| **Communications Equipment - 1.2%** |  |  |
| Ciena Corp. <sup>(a)</sup> | 696 | 56606 |
| F5, Inc. <sup>(a)</sup> | 282 | 82998 |
| Juniper Networks, Inc.  | 1597 | 63768 |
|  |  | 203372 |
| **Electronic Components - 0.4%** |  |  |
| Coherent Corp. <sup>(a)</sup> | 759 | 67711 |
| **Electronic Equipment & Instruments - 0.1%** |  |  |
| Cognex Corp.  | 831 | 26359 |
| **Electronic Manufacturing Services - 1.2%** |  |  |
| Flex Ltd. <sup>(a)</sup> | 1889 | 94299 |
| Jabil, Inc.  | 505 | 110140 |
|  |  | 204439 |
| **IT Consulting & Other Services - 0.7%** |  |  |
| Amdocs Ltd.  | 543 | 49543 |
| Globant SA <sup>(a)</sup> | 206 | 18713 |
| Kyndryl Holdings, Inc. <sup>(a)</sup> | 1115 | 46786 |
|  |  | 115042 |
| **Semiconductor Materials & Equipment - 0.5%** |  |  |
| Enphase Energy, Inc. <sup>(a)</sup> | 633 | 25098 |
| MKS, Inc.  | 325 | 32292 |
| Onto Innovation, Inc. <sup>(a)</sup> | 236 | 23820 |
|  |  | 81210 |
| **Semiconductors - 1.6%** |  |  |
| Astera Labs, Inc. <sup>(a)</sup> | 632 | 57145 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Semiconductors - 1.6% (Continued)** | | |
| Credo Technology Group Holding Ltd. <sup>(a)</sup> | 739 | $68424 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 666 | 32627 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup> | 309 | 44277 |
| Qorvo, Inc. <sup>(a)</sup> | 455 | 38634 |
| Universal Display Corp.  | 217 | 33518 |
|  |  | 274625 |
| **Systems Software - 2.5%** |  |  |
| Commvault Systems, Inc. <sup>(a)</sup> | 209 | 36435 |
| CyberArk Software Ltd. <sup>(a)</sup> | 245 | 99686 |
| Dolby Laboratories, Inc. - Class A  | 316 | 23466 |
| Gen Digital, Inc.  | 2635 | 77469 |
| Gitlab, Inc. - Class A <sup>(a)</sup> | 622 | 28058 |
| Monday.com Ltd. <sup>(a)</sup> | 192 | 60380 |
| Onestream, Inc. <sup>(a)</sup> | 389 | 11009 |
| Rubrik, Inc. - Class A <sup>(a)</sup> | 376 | 33686 |
| SentinelOne, Inc. - Class A <sup>(a)</sup> | 1515 | 27694 |
| UiPath, Inc. - Class A <sup>(a)</sup> | 1959 | 25075 |
|  |  | 422958 |
| **Technology Distributors - 0.2%** |  |  |
| TD Synnex Corp.  | 325 | 44103 |
| **Technology Hardware, Storage & Peripherals - 0.8%** |  |  |
| IonQ, Inc. <sup>(a)</sup> | 1037 | 44560 |
| Pure Storage, Inc. - Class A <sup>(a)</sup> | 1504 | 86600 |
|  |  | 131160 |
| **Total Information Technology** |  | 2358672 |
| **<u>Materials</u> - 5.4%** |  |  |
| **Aluminum - 0.2%** |  |  |
| Alcoa Corp.  | 1255 | 37035 |
| **Construction Materials - 0.2%** |  |  |
| Eagle Materials, Inc.  | 158 | 31933 |
| **Fertilizers & Agricultural Chemicals - 0.5%** |  |  |
| FMC Corp.  | 613 | 25593 |
| Mosaic Co.  | 1560 | 56909 |
|  |  | 82502 |
| **Forest Products - 0.2%** |  |  |
| Louisiana-Pacific Corp.  | 326 | 28033 |
| **Gold - 0.3%** |  |  |
| Royal Gold, Inc.  | 325 | 57798 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Metal, Glass & Plastic Containers - 0.6%** |  |  |
| AptarGroup, Inc.  | 326 | $50996 |
| Crown Holdings, Inc.  | 590 | 60758 |
|  |  | 111754 |
| **Paper & Plastic Packaging Products & Materials - 1.3%** |  |  |
| Avery Dennison Corp.  | 379 | 66503 |
| Graphic Packaging Holding Co.  | 1459 | 30741 |
| International Paper Co.  | 2623 | 122835 |
|  |  | 220079 |
| **Specialty Chemicals - 1.2%** |  |  |
| Albemarle Corp.  | 567 | 35534 |
| Axalta Coating Systems Ltd. <sup>(a)</sup> | 1090 | 32362 |
| Celanese Corp.  | 582 | 32202 |
| Eastman Chemical Co.  | 558 | 41661 |
| RPM International, Inc.  | 618 | 67881 |
|  |  | 209640 |
| **Steel - 0.9%** |  |  |
| Carpenter Technology Corp.  | 246 | 67990 |
| Reliance, Inc.  | 259 | 81300 |
|  |  | 149290 |
| **Total Materials** |  | 928064 |
| **<u>Real Estate</u> - 0.7%** |  |  |
| **Real Estate Services - 0.7%** |  |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 229 | 58574 |
| Zillow Group, Inc. - Class A <sup>(a)</sup> | 195 | 13355 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 801 | 56110 |
| **Total Real Estate** |  | 128039 |
| **<u>Utilities</u> - 3.1%** |  |  |
| **Electric Utilities - 1.5%** |  |  |
| NRG Energy, Inc.  | 980 | 157368 |
| OGE Energy Corp.  | 975 | 43271 |
| Pinnacle West Capital Corp.  | 585 | 52340 |
|  |  | 252979 |
| **Gas Utilities - 0.2%** |  |  |
| UGI Corp.  | 1040 | 37877 |
| **Independent Power Producers & Energy Traders - 0.6%** |  |  |
| AES Corp.  | 3413 | 35905 |
| Talen Energy Corp. <sup>(a)</sup> | 222 | 64551 |
|  |  | 100456 |
| **Multi-Utilities - 0.5%** |  |  |
| NiSource, Inc.  | 2324 | 93750 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 93.1% (CONTINUED)** | **Shares** | **Value**  |
| **Water Utilities - 0.3%** |  |  |
| Essential Utilities, Inc.  | 1333 | $49507 |
| **Total Utilities** |  | 534569 |
| **TOTAL COMMON STOCKS** (Cost $14,737,811) |  | 15977487 |
| **REAL ESTATE INVESTMENT TRUSTS - 6.7%** |  |  |
| **<u>Financials</u> - 0.6%** |  |  |
| **Mortgage REITs - 0.6%** |  |  |
| AGNC Investment Corp.  | 4279 | 39324 |
| Annaly Capital Management, Inc.  | 3011 | 56667 |
| **Total Financials** |  | 95991 |
| **<u>Real Estate</u> - 6.1%** |  |  |
| **Diversified REITs - 0.4%** |  |  |
| WP Carey, Inc.  | 1086 | 67745 |
| **Health Care REITs - 0.6%** |  |  |
| Healthpeak Properties, Inc.  | 3411 | 59727 |
| Omega Healthcare Investors, Inc.  | 1433 | 52519 |
|  |  | 112246 |
| **Hotel & Resort REITs - 0.3%** |  |  |
| Host Hotels & Resorts, Inc.  | 3327 | 51103 |
| **Industrial REITs - 0.7%** |  |  |
| EastGroup Properties, Inc.  | 256 | 42783 |
| First Industrial Realty Trust, Inc.  | 639 | 30755 |
| Rexford Industrial Realty, Inc.  | 1201 | 42719 |
|  |  | 116257 |
| **Multi-Family Residential REITs - 0.4%** |  |  |
| Camden Property Trust  | 542 | 61078 |
| **Office REITs - 0.5%** |  |  |
| BXP, Inc.  | 775 | 52289 |
| Vornado Realty Trust  | 856 | 32734 |
|  |  | 85023 |
| **Other Specialized REITs - 0.6%** |  |  |
| Gaming and Leisure Properties, Inc.  | 1309 | 61104 |
| Lamar Advertising Co. - Class A  | 422 | 51214 |
|  |  | 112318 |
| **Retail REITs - 1.7%** |  |  |
| Agree Realty Corp.  | 532 | 38868 |
| Brixmor Property Group, Inc.  | 1518 | 39529 |
| Federal Realty Investment Trust  | 410 | 38946 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE MID-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 205** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 6.7% (Continued)** | **Shares** | **Value** |
| **Retail REITs - 1.7% (Continued)** | | |
| Kimco Realty Corp.  | 3273 | $68798 |
| NNN REIT, Inc.  | 911 | 39337 |
| Regency Centers Corp.  | 894 | 63679 |
|  |  | 289157 |
| **Self-Storage REITs - 0.3%** |  |  |
| CubeSmart  | 1126 | 47855 |
| **Single-Family Residential REITs - 0.6%** |  |  |
| American Homes 4 Rent - Class A  | 1607 | 57964 |
| Equity LifeStyle Properties, Inc.  | 833 | 51371 |
|  |  | 109335 |
| **Total Real Estate** |  | 1052117 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,146,571) |  | 1148108 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Funds - 0.1%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(b)</sup> | 15535 | 15535 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $15,535) |  | 15535 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $15,899,917**)** |  | $17141130 |
| Other Assets in Excess of Liabilities - 0.1%  |  | 12987 |
| **TOTAL NET ASSETS - 100.0%** |  | $17154117 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |

---

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE NATURAL RESOURCES AND SECURITY ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9%** | **Shares** | **Value**  |
| **<u>Consumer Staples</u> - 0.6%** | |  |
| **Agricultural Products & Services - 0.6%** |  |  |
| Ingredion, Inc.  | 1558 | $211296 |
| **<u>Energy</u> - 25.0%**<sup>(a)</sup> |  |  |
| **Coal & Consumable Fuels - 5.9%** |  |  |
| Cameco Corp.  | 20661 | 1534384 |
| Centrus Energy Corp. - Class A <sup>(b)</sup> | 720 | 131889 |
| Denison Mines Corp. <sup>(b)</sup> | 40348 | 73777 |
| Energy Fuels, Inc. <sup>(b)</sup> | 8737 | 50494 |
| NexGen Energy Ltd. <sup>(b)</sup> | 24489 | 170124 |
| Uranium Energy Corp. <sup>(b)</sup> | 20011 | 136075 |
|  |  | 2096743 |
| **Integrated Oil & Gas - 10.5%** |  |  |
| Chevron Corp.  | 8733 | 1250478 |
| Exxon Mobil Corp.  | 23158 | 2496433 |
|  |  | 3746911 |
| **Oil & Gas Exploration & Production - 3.6%** |  |  |
| Canadian Natural Resources Ltd.  | 10989 | 345386 |
| ConocoPhillips  | 6772 | 607719 |
| EOG Resources, Inc.  | 2945 | 352251 |
|  |  | 1305356 |
| **Oil & Gas Storage & Transportation - 5.0%** |  |  |
| Enbridge, Inc.  | 11519 | 522341 |
| Kinder Morgan, Inc.  | 10381 | 305201 |
| ONEOK, Inc.  | 3342 | 272808 |
| TC Energy Corp.  | 5494 | 268215 |
| Williams Cos., Inc.  | 6519 | 409458 |
|  |  | 1778023 |
| **Total Energy** |  | 8927033 |
| **<u>Industrials</u> - 32.5%**<sup>(a)</sup> |  |  |
| **Aerospace & Defense - 21.5%** |  |  |
| Axon Enterprise, Inc. <sup>(b)</sup> | 454 | 375885 |
| Boeing Co. <sup>(b)</sup> | 4685 | 981648 |
| BWX Technologies, Inc.  | 4330 | 623780 |
| General Dynamics Corp.  | 1457 | 424949 |
| General Electric Co.  | 6391 | 1644979 |
| Howmet Aerospace, Inc.  | 2483 | 462161 |
| L3Harris Technologies, Inc.  | 1156 | 289971 |
| Lockheed Martin Corp.  | 1455 | 673869 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE NATURAL RESOURCES AND SECURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (CONTINUED)** | **Shares** | **Value**  |
| **Aerospace & Defense - 21.5% (Continued)** | | |
| Northrop Grumman Corp.  | 887 | $443482 |
| RTX Corp.  | 8316 | 1214302 |
| TransDigm Group, Inc.  | 341 | 518538 |
|  |  | 7653564 |
| **Agricultural & Farm Machinery - 10.4%** |  |  |
| AGCO Corp.  | 1501 | 154843 |
| CNH Industrial NV  | 19287 | 249960 |
| Deere & Co.  | 6161 | 3132807 |
| Toro Co.  | 2406 | 170056 |
|  |  | 3707666 |
| **Heavy Electrical Equipment - 0.6%** |  |  |
| NuScale Power Corp. <sup>(b)</sup> | 5644 | 223276 |
| **Total Industrials** |  | 11584506 |
| **<u>Materials</u> - 27.4%**<sup>(a)</sup> |  |  |
| **Copper - 3.5%** |  |  |
| Freeport-McMoRan, Inc.  | 28313 | 1227369 |
| **Diversified Metals & Mining - 1.1%** |  |  |
| Teck Resources Ltd. - Class B  | 9738 | 393811 |
| **Fertilizers & Agricultural Chemicals - 7.6%** |  |  |
| CF Industries Holdings, Inc.  | 4039 | 371588 |
| Corteva, Inc.  | 16643 | 1240403 |
| FMC Corp.  | 2942 | 122828 |
| Mosaic Co.  | 7655 | 279254 |
| Nutrien Ltd.  | 11953 | 696509 |
|  |  | 2710582 |
| **Gold - 15.2%** |  |  |
| Agnico Eagle Mines Ltd.  | 9968 | 1187596 |
| Alamos Gold, Inc. - Class A  | 8179 | 217546 |
| Barrick Mining Corp.  | 33846 | 704633 |
| Franco-Nevada Corp.  | 3783 | 621087 |
| Kinross Gold Corp.  | 24133 | 377125 |
| Newmont Corp.  | 22044 | 1284283 |
| Royal Gold, Inc.  | 1300 | 231192 |
| Wheaton Precious Metals Corp.  | 8983 | 807827 |
|  |  | 5431289 |
| **Total Materials** |  | 9763051 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE NATURAL RESOURCES AND SECURITY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Utilities</u> - 14.4%** | |  |
| **Electric Utilities - 14.4%** |  |  |
| Constellation Energy Corp.  | 14990 | $4838172 |
| Oklo, Inc. <sup>(b)</sup> | 5120 | 286669 |
| **Total Utilities** |  | 5124841 |
| **TOTAL COMMON STOCKS** (Cost $30,629,926) |  | 35610727 |
| **SHORT-TERM INVESTMENTS - 0.0%**<sup>(c)</sup> |  |  |
| **Money Market Funds - 0.0%**<sup>(c)</sup> |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(d)</sup> | 17067 | 17067 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $17,067) |  | 17067 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $30,646,993**)** |  | $35627794 |
| Other Assets in Excess of Liabilities - 0.1%  |  | 24457 |
| **TOTAL NET ASSETS - 100.0%** |  | $35652251 |

---

Percentages are stated as a percent of net assets.

(a) 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.

(b) Non-income producing security.

(c) Represents less than 0.05% of net assets.

(d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 3.1%** | |  |
| **Advertising - 0.1%** |  |  |
| DoubleVerify Holdings, Inc. <sup>(a)</sup> | 4121 | $61691 |
| **Alternative Carriers - 0.9%** |  |  |
| AST SpaceMobile, Inc. <sup>(a)</sup> | 5383 | 251548 |
| Cogent Communications Holdings, Inc.  | 1409 | 67928 |
| Globalstar, Inc. <sup>(a)</sup> | 1411 | 33229 |
| Iridium Communications, Inc.  | 2882 | 86950 |
| Lumen Technologies, Inc. <sup>(a)</sup> | 28842 | 126328 |
|  |  | 565983 |
| **Broadcasting - 0.4%** |  |  |
| Nexstar Media Group, Inc.  | 877 | 151677 |
| Tegna, Inc.  | 4915 | 82376 |
|  |  | 234053 |
| **Interactive Media & Services - 0.8%** |  |  |
| Angi, Inc. <sup>(a)</sup> | 1180 | 18007 |
| Cargurus, Inc. <sup>(a)</sup> | 2677 | 89599 |
| IAC, Inc. <sup>(a)</sup> | 1919 | 71655 |
| Rumble, Inc. <sup>(a)</sup> | 2562 | 23007 |
| TripAdvisor, Inc. <sup>(a)</sup> | 3765 | 49133 |
| Trump Media & Technology Group Corp. <sup>(a)</sup> | 3426 | 61805 |
| Yelp, Inc. <sup>(a)</sup> | 2015 | 69054 |
| ZoomInfo Technologies, Inc. <sup>(a)</sup> | 9039 | 91475 |
|  |  | 473735 |
| **Movies & Entertainment - 0.7%** |  |  |
| Atlanta Braves Holdings, Inc. - Class A <sup>(a)</sup> | 289 | 14222 |
| Atlanta Braves Holdings, Inc. - Class C <sup>(a)</sup> | 1140 | 53318 |
| Cinemark Holdings, Inc.  | 3482 | 105087 |
| Liberty Media Corp.-Liberty Live - Class A <sup>(a)</sup> | 636 | 50549 |
| Liberty Media Corp.-Liberty Live - Class C <sup>(a)</sup> | 1473 | 119548 |
| Madison Square Garden Sports Corp. <sup>(a)</sup> | 559 | 116803 |
|  |  | 459527 |
| **Wireless Telecommunication Services - 0.2%** |  |  |
| Telephone and Data Systems, Inc.  | 2590 | 92152 |
| United States Cellular Corp. <sup>(a)</sup> | 438 | 28019 |
|  |  | 120171 |
| **Total Communication Services** |  | 1915160 |
| **<u>Consumer Discretionary</u> - 12.5%** |  |  |
| **Apparel Retail - 0.9%** |  |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 1494 | 123778 |
| American Eagle Outfitters, Inc.  | 4031 | 38778 |
| Boot Barn Holdings, Inc. <sup>(a)</sup> | 968 | 147136 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Apparel Retail - 0.9% (Continued)** | | |
| Buckle, Inc.  | 903 | $40951 |
| Urban Outfitters, Inc. <sup>(a)</sup> | 2042 | 148127 |
| Victoria's Secret & Co. <sup>(a)</sup> | 2253 | 41725 |
|  |  | 540495 |
| **Apparel, Accessories & Luxury Goods - 0.7%** |  |  |
| Capri Holdings Ltd. <sup>(a)</sup> | 3810 | 67437 |
| Columbia Sportswear Co.  | 794 | 48498 |
| Hanesbrands, Inc. <sup>(a)</sup> | 9638 | 44142 |
| Kontoor Brands, Inc.  | 1728 | 113996 |
| PVH Corp.  | 1589 | 109005 |
| Under Armour, Inc. - Class A <sup>(a)</sup> | 6041 | 41260 |
| Under Armour, Inc. - Class C <sup>(a)</sup> | 4357 | 28277 |
|  |  | 452615 |
| **Automobile Manufacturers - 0.2%** |  |  |
| Thor Industries, Inc.  | 1605 | 142540 |
| **Automotive Parts & Equipment - 1.5%** |  |  |
| Dorman Products, Inc. <sup>(a)</sup> | 834 | 102307 |
| Gentex Corp.  | 6928 | 152347 |
| LCI Industries  | 761 | 69395 |
| Lear Corp.  | 1647 | 156432 |
| Modine Manufacturing Co. <sup>(a)</sup> | 1624 | 159964 |
| Patrick Industries, Inc.  | 974 | 89871 |
| QuantumScape Corp. <sup>(a)</sup> | 11719 | 78752 |
| Visteon Corp. <sup>(a)</sup> | 852 | 79491 |
|  |  | 888559 |
| **Automotive Retail - 1.0%** |  |  |
| Advance Auto Parts, Inc.  | 1934 | 89912 |
| Asbury Automotive Group, Inc. <sup>(a)</sup> | 597 | 142408 |
| Group 1 Automotive, Inc.  | 387 | 169007 |
| Sonic Automotive, Inc. - Class A  | 402 | 32132 |
| Valvoline, Inc. <sup>(a)</sup> | 3846 | 145648 |
|  |  | 579107 |
| **Broadline Retail - 0.4%** |  |  |
| Etsy, Inc. <sup>(a)</sup> | 3029 | 151935 |
| Macy's, Inc.  | 8653 | 100894 |
|  |  | 252829 |
| **Casinos & Gaming - 0.6%** |  |  |
| International Game Technology PLC  | 3630 | 57390 |
| Penn Entertainment, Inc. <sup>(a)</sup> | 4910 | 87742 |
| Red Rock Resorts, Inc. - Class A  | 1414 | 73570 |
| Rush Street Interactive, Inc. <sup>(a)</sup> | 2335 | 34792 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Casinos & Gaming - 0.6% (Continued)** | | |
| Sportradar Group AG - Class A <sup>(a)</sup> | 3873 | $108754 |
|  |  | 362248 |
| **Education Services - 1.1%** |  |  |
| Adtalem Global Education, Inc. <sup>(a)</sup> | 1121 | 142625 |
| Graham Holdings Co. - Class B  | 94 | 88940 |
| Grand Canyon Education, Inc. <sup>(a)</sup> | 852 | 161028 |
| KinderCare Learning Cos., Inc. <sup>(a)</sup> | 804 | 8120 |
| Strategic Education, Inc.  | 698 | 59421 |
| Stride, Inc. <sup>(a)</sup> | 1312 | 190489 |
|  |  | 650623 |
| **Footwear - 0.4%** |  |  |
| Crocs, Inc. <sup>(a)</sup> | 1702 | 172379 |
| Steven Madden Ltd.  | 2281 | 54698 |
|  |  | 227077 |
| **Homebuilding - 1.4%** |  |  |
| Cavco Industries, Inc. <sup>(a)</sup> | 253 | 109911 |
| Century Communities, Inc.  | 881 | 49618 |
| Champion Homes, Inc. <sup>(a)</sup> | 1677 | 104997 |
| Green Brick Partners, Inc. <sup>(a)</sup> | 1006 | 63257 |
| Installed Building Products, Inc.  | 707 | 127486 |
| KB Home  | 1912 | 101279 |
| M/I Homes, Inc. <sup>(a)</sup> | 731 | 81960 |
| Meritage Homes Corp.  | 2126 | 142378 |
| Tri Pointe Homes, Inc. <sup>(a)</sup> | 2890 | 92335 |
|  |  | 873221 |
| **Homefurnishing Retail - 0.3%** |  |  |
| Wayfair, Inc. - Class A <sup>(a)</sup> | 2962 | 151477 |
| **Hotels, Resorts & Cruise Lines - 0.4%** |  |  |
| Global Business Travel Group I <sup>(a)</sup> | 3285 | 20695 |
| Hilton Grand Vacations, Inc. <sup>(a)</sup> | 2043 | 84846 |
| Marriott Vacations Worldwide Corp.  | 876 | 63343 |
| Travel + Leisure Co.  | 1924 | 99298 |
|  |  | 268182 |
| **Housewares & Specialties - 0.1%** |  |  |
| Newell Brands, Inc.  | 13562 | 73235 |
| **Leisure Facilities - 0.7%** |  |  |
| Life Time Group Holdings, Inc. <sup>(a)</sup> | 3214 | 97480 |
| Six Flags Entertainment Corp.  | 2840 | 86421 |
| United Parks & Resorts, Inc. <sup>(a)</sup> | 933 | 43991 |
| Vail Resorts, Inc.  | 1151 | 180857 |
|  |  | 408749 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Leisure Products - 1.0%** |  |  |
| Acushnet Holdings Corp.  | 932 | $67868 |
| Brunswick Corp.  | 1990 | 109928 |
| Mattel, Inc. <sup>(a)</sup> | 9788 | 193019 |
| Peloton Interactive, Inc. - Class A <sup>(a)</sup> | 11349 | 78762 |
| Polaris, Inc.  | 1682 | 68373 |
| YETI Holdings, Inc. <sup>(a)</sup> | 2324 | 73253 |
|  |  | 591203 |
| **Motorcycle Manufacturers - 0.1%** |  |  |
| Harley-Davidson, Inc.  | 3552 | 83827 |
| **Other Specialty Retail - 0.7%** |  |  |
| Academy Sports & Outdoors, Inc.  | 2011 | 90113 |
| Five Below, Inc. <sup>(a)</sup> | 1696 | 222481 |
| Signet Jewelers Ltd.  | 1257 | 99995 |
|  |  | 412589 |
| **Restaurants - 0.6%** |  |  |
| Cheesecake Factory, Inc.  | 1372 | 85970 |
| Shake Shack, Inc. - Class A <sup>(a)</sup> | 1229 | 172797 |
| Sweetgreen, Inc. - Class A <sup>(a)</sup> | 3011 | 44804 |
| Wendy's Co.  | 5495 | 62753 |
|  |  | 366324 |
| **Specialized Consumer Services - 0.3%** |  |  |
| Frontdoor, Inc. <sup>(a)</sup> | 2273 | 133971 |
| Mister Car Wash, Inc. <sup>(a)</sup> | 2895 | 17399 |
|  |  | 151370 |
| **Tires & Rubber - 0.1%** |  |  |
| Goodyear Tire & Rubber Co. <sup>(a)</sup> | 8368 | 86776 |
| **Total Consumer Discretionary** |  | 7563046 |
| **<u>Consumer Staples</u> - 2.9%** |  |  |
| **Agricultural Products & Services - 0.3%** |  |  |
| Darling Ingredients, Inc. <sup>(a)</sup> | 4946 | 187651 |
| **Brewers - 0.1%** |  |  |
| Boston Beer Co., Inc. - Class A <sup>(a)</sup> | 272 | 51900 |
| **Consumer Staples Merchandise Retail - 0.1%** |  |  |
| PriceSmart, Inc.  | 809 | 84977 |
| **Household Products - 0.3%** |  |  |
| Energizer Holdings, Inc.  | 2093 | 42195 |
| Reynolds Consumer Products, Inc.  | 1533 | 32837 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Household Products - 0.3% (Continued)** | | |
| Spectrum Brands Holdings, Inc.  | 769 | $40757 |
| WD-40 Co.  | 421 | 96026 |
|  |  | 211815 |
| **Packaged Foods & Meats - 1.1%** |  |  |
| Cal-Maine Foods, Inc.  | 1246 | 124139 |
| Flowers Foods, Inc.  | 6218 | 99364 |
| J & J Snack Foods Corp.  | 483 | 54777 |
| Marzetti Co.  | 606 | 104698 |
| Post Holdings, Inc. <sup>(a)</sup> | 1528 | 166598 |
| Seaboard Corp.  | 6 | 17167 |
| Simply Good Foods Co. <sup>(a)</sup> | 2883 | 91074 |
|  |  | 657817 |
| **Personal Care Products - 0.5%** |  |  |
| elf Beauty, Inc. <sup>(a)</sup> | 1671 | 207939 |
| Interparfums, Inc.  | 556 | 73009 |
|  |  | 280948 |
| **Soft Drinks & Non-alcoholic Beverages - 0.5%** |  |  |
| Celsius Holdings, Inc. <sup>(a)</sup> | 5380 | 249579 |
| National Beverage Corp. <sup>(a)</sup> | 709 | 30657 |
|  |  | 280236 |
| **Total Consumer Staples** |  | 1755344 |
| **<u>Energy</u> - 4.5%** |  |  |
| **Coal & Consumable Fuels - 0.3%** |  |  |
| Core Natural Resources, Inc.  | 1606 | 112002 |
| Uranium Energy Corp. <sup>(a)</sup> | 12150 | 82620 |
|  |  | 194622 |
| **Oil & Gas Drilling - 0.6%** |  |  |
| Helmerich & Payne, Inc.  | 2744 | 41599 |
| Noble Corp. PLC  | 3736 | 99191 |
| Patterson-UTI Energy, Inc.  | 11891 | 70514 |
| Seadrill Ltd. <sup>(a)</sup> | 1804 | 47355 |
| Transocean Ltd. <sup>(a)</sup> | 23118 | 59875 |
| Valaris Ltd. <sup>(a)</sup> | 1779 | 74914 |
|  |  | 393448 |
| **Oil & Gas Equipment & Services - 1.5%** |  |  |
| Archrock, Inc.  | 5220 | 129613 |
| Atlas Energy Solutions, Inc.  | 2287 | 30577 |
| Cactus, Inc. - Class A  | 2063 | 90194 |
| ChampionX Corp.  | 5546 | 137763 |
| Kodiak Gas Services, Inc.  | 1609 | 55141 |
| Liberty Energy, Inc.  | 4902 | 56275 |
| NOV, Inc.  | 11559 | 143678 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Oil & Gas Equipment & Services - 1.5% (Continued)** | | |
| Oceaneering International, Inc. <sup>(a)</sup> | 3161 | $65496 |
| Tidewater, Inc. <sup>(a)</sup> | 1518 | 70025 |
| Weatherford International PLC  | 2174 | 109374 |
|  |  | 888136 |
| **Oil & Gas Exploration & Production - 1.6%** |  |  |
| California Resources Corp.  | 2535 | 115773 |
| Civitas Resources, Inc.  | 2807 | 77249 |
| CNX Resources Corp. <sup>(a)</sup> | 4174 | 140580 |
| Comstock Resources, Inc. <sup>(a)</sup> | 2487 | 68815 |
| Crescent Energy Co. - Class A  | 6748 | 58033 |
| Gulfport Energy Corp. <sup>(a)</sup> | 469 | 94349 |
| Magnolia Oil & Gas Corp. - Class A  | 5536 | 124449 |
| Murphy Oil Corp.  | 4021 | 90473 |
| Northern Oil & Gas, Inc.  | 2977 | 84398 |
| Sitio Royalties Corp. - Class A  | 2539 | 46667 |
| SM Energy Co.  | 3650 | 90191 |
|  |  | 990977 |
| **Oil & Gas Refining & Marketing - 0.1%** |  |  |
| PBF Energy, Inc. - Class A  | 2517 | 54543 |
| **Oil & Gas Storage & Transportation - 0.4%** |  |  |
| Excelerate Energy, Inc. - Class A  | 678 | 19879 |
| Golar LNG Ltd.  | 3076 | 126701 |
| New Fortress Energy, Inc.  | 3744 | 12430 |
| Scorpio Tankers, Inc.  | 1470 | 57521 |
|  |  | 216531 |
| **Total Energy** |  | 2738257 |
| **<u>Financials</u> - 16.8%** |  |  |
| **Asset Management & Custody Banks - 0.9%** |  |  |
| Affiliated Managers Group, Inc.  | 841 | 165484 |
| Artisan Partners Asset Management, Inc. - Class A  | 2110 | 93536 |
| Cohen & Steers, Inc.  | 900 | 67815 |
| Federated Hermes, Inc.  | 2512 | 111332 |
| GCM Grosvenor, Inc. - Class A  | 1272 | 14704 |
| Victory Capital Holdings, Inc. - Class A  | 1513 | 96333 |
|  |  | 549204 |
| **Commercial & Residential Mortgage Finance - 1.4%** |  |  |
| Enact Holdings, Inc.  | 899 | 33398 |
| Essent Group Ltd.  | 3145 | 190996 |
| MGIC Investment Corp.  | 7523 | 209440 |
| NMI Holdings, Inc. - Class A <sup>(a)</sup> | 2342 | 98809 |
| PennyMac Financial Services, Inc.  | 899 | 89576 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Commercial & Residential Mortgage Finance - 1.4% (Continued)** | | |
| Radian Group, Inc.  | 4270 | $153806 |
| Walker & Dunlop, Inc.  | 1038 | 73158 |
|  |  | 849183 |
| **Consumer Finance - 1.3%** |  |  |
| Bread Financial Holdings, Inc.  | 1387 | 79225 |
| Credit Acceptance Corp. <sup>(a)</sup> | 141 | 71830 |
| Enova International, Inc. <sup>(a)</sup> | 722 | 80517 |
| FirstCash Holdings, Inc.  | 1164 | 157303 |
| Nelnet, Inc. - Class A  | 416 | 50386 |
| SLM Corp.  | 6006 | 196937 |
| Upstart Holdings, Inc. <sup>(a)</sup> | 2518 | 162864 |
|  |  | 799062 |
| **Insurance Brokers - 0.3%** |  |  |
| Baldwin Insurance Group, Inc. - Class A <sup>(a)</sup> | 2023 | 86605 |
| Goosehead Insurance, Inc. - Class A  | 687 | 72485 |
| Hagerty, Inc. - Class A <sup>(a)</sup> | 739 | 7471 |
|  |  | 166561 |
| **Investment Banking & Brokerage - 1.3%** |  |  |
| BGC Group, Inc. - Class A  | 10981 | 112336 |
| Lazard, Inc.  | 3511 | 168458 |
| Moelis & Co. - Class A  | 2235 | 139285 |
| Perella Weinberg Partners  | 1501 | 29149 |
| Piper Sandler Cos.  | 523 | 145363 |
| StoneX Group, Inc. <sup>(a)</sup> | 1296 | 118118 |
| Virtu Financial, Inc. - Class A  | 2317 | 103778 |
|  |  | 816487 |
| **Life & Health Insurance - 1.1%** |  |  |
| Brighthouse Financial, Inc. <sup>(a)</sup> | 1744 | 93775 |
| CNO Financial Group, Inc.  | 3109 | 119945 |
| F&G Annuities & Life, Inc.  | 540 | 17269 |
| Genworth Financial, Inc. - Class A <sup>(a)</sup> | 12452 | 96877 |
| Lincoln National Corp.  | 5340 | 184764 |
| Oscar Health, Inc. - Class A <sup>(a)</sup> | 6372 | 136616 |
|  |  | 649246 |
| **Property & Casualty Insurance - 1.5%** |  |  |
| Assured Guaranty Ltd.  | 1439 | 125337 |
| Hanover Insurance Group, Inc.  | 991 | 168341 |
| Kemper Corp.  | 1955 | 126176 |
| Mercury General Corp.  | 842 | 56700 |
| Palomar Holdings, Inc. <sup>(a)</sup> | 797 | 122937 |
| Selective Insurance Group, Inc.  | 1852 | 160476 |
| White Mountains Insurance Group Ltd.  | 75 | 134679 |
|  |  | 894646 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 8.1%** |  |  |
| Ameris Bancorp  | 1992 | $128882 |
| Associated Banc-Corp.  | 4944 | 120584 |
| Atlantic Union Bankshares Corp.  | 4297 | 134410 |
| Axos Financial, Inc. <sup>(a)</sup> | 1716 | 130485 |
| Banc of California, Inc.  | 4030 | 56621 |
| BancFirst Corp.  | 519 | 64159 |
| Bancorp, Inc. <sup>(a)</sup> | 1286 | 73263 |
| Bank of Hawaii Corp.  | 1237 | 83535 |
| Bank OZK  | 3416 | 160757 |
| BankUnited, Inc.  | 2277 | 81038 |
| Banner Corp.  | 981 | 62931 |
| Cadence Bank  | 5531 | 176881 |
| Cathay General Bancorp  | 2041 | 92927 |
| Columbia Banking System, Inc.  | 6625 | 154892 |
| Community Financial System, Inc.  | 1652 | 93949 |
| CVB Financial Corp.  | 4073 | 80605 |
| Eastern Bankshares, Inc.  | 5990 | 91467 |
| FB Financial Corp.  | 1017 | 46070 |
| First BanCorp  | 5101 | 106254 |
| First Financial Bancorp  | 2866 | 69529 |
| First Financial Bankshares, Inc.  | 3853 | 138631 |
| First Hawaiian, Inc.  | 4053 | 101163 |
| First Interstate BancSystem, Inc. - Class A  | 2830 | 81561 |
| First Merchants Corp.  | 1819 | 69668 |
| Flagstar Financial, Inc.  | 10412 | 110367 |
| FNB Corp.  | 11307 | 164856 |
| Fulton Financial Corp.  | 5676 | 102395 |
| Glacier Bancorp, Inc.  | 3455 | 148841 |
| Hancock Whitney Corp.  | 2669 | 153201 |
| Home BancShares, Inc.  | 5451 | 155135 |
| Independent Bank Corp.  | 1324 | 83260 |
| International Bancshares Corp.  | 1767 | 117612 |
| Pacific Premier Bancorp, Inc.  | 2957 | 62363 |
| Park National Corp.  | 457 | 76438 |
| Provident Financial Services, Inc.  | 4028 | 70611 |
| Renasant Corp.  | 2820 | 101323 |
| ServisFirst Bancshares, Inc.  | 1553 | 120373 |
| Simmons First National Corp. - Class A  | 3823 | 72484 |
| Texas Capital Bancshares, Inc. <sup>(a)</sup> | 1446 | 114812 |
| TFS Financial Corp.  | 1648 | 21342 |
| Towne Bank  | 2072 | 70821 |
| UMB Financial Corp.  | 1984 | 208637 |
| United Bankshares, Inc.  | 4299 | 156613 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Regional Banks - 8.1% (Continued)** | | |
| United Community Banks, Inc.  | 3764 | $112130 |
| Valley National Bancorp  | 14649 | 130816 |
| WaFd, Inc.  | 2455 | 71882 |
| WSFS Financial Corp.  | 1866 | 102630 |
|  |  | 4929204 |
| **Reinsurance - 0.3%** |  |  |
| Enstar Group Ltd. <sup>(a)</sup> | 357 | 120080 |
| SiriusPoint Ltd. <sup>(a)</sup> | 3097 | 63148 |
|  |  | 183228 |
| **Transaction & Payment Processing Services - 0.6%** |  |  |
| Euronet Worldwide, Inc. <sup>(a)</sup> | 1239 | 125610 |
| Paymentus Holdings, Inc. - Class A <sup>(a)</sup> | 883 | 28918 |
| Payoneer Global, Inc. <sup>(a)</sup> | 9007 | 61698 |
| Remitly Global, Inc. <sup>(a)</sup> | 4980 | 93475 |
| Western Union Co.  | 10033 | 84478 |
|  |  | 394179 |
| **Total Financials** |  | 10231000 |
| **<u>Health Care</u> - 11.1%** |  |  |
| **Biotechnology - 5.2%** |  |  |
| Acadia Pharmaceuticals, Inc. <sup>(a)</sup> | 3859 | 83239 |
| ADMA Biologics, Inc. <sup>(a)</sup> | 7165 | 130475 |
| Akero Therapeutics, Inc. <sup>(a)</sup> | 2332 | 124436 |
| Alkermes PLC <sup>(a)</sup> | 5029 | 143880 |
| Alvotech SA <sup>(a)</sup> | 3204 | 29220 |
| Amicus Therapeutics, Inc. <sup>(a)</sup> | 9362 | 53644 |
| Apellis Pharmaceuticals, Inc. <sup>(a)</sup> | 3545 | 61364 |
| Arcellx, Inc. <sup>(a)</sup> | 1647 | 108455 |
| Arrowhead Pharmaceuticals, Inc. <sup>(a)</sup> | 3760 | 59408 |
| Avidity Biosciences, Inc. <sup>(a)</sup> | 3519 | 99940 |
| Biohaven Ltd. <sup>(a)</sup> | 2511 | 35430 |
| Catalyst Pharmaceuticals, Inc. <sup>(a)</sup> | 3494 | 75820 |
| Crinetics Pharmaceuticals, Inc. <sup>(a)</sup> | 2740 | 78802 |
| CRISPR Therapeutics AG <sup>(a)</sup> | 2647 | 128750 |
| Cytokinetics, Inc. <sup>(a)</sup> | 3551 | 117325 |
| Denali Therapeutics, Inc. <sup>(a)</sup> | 3698 | 51735 |
| ImmunityBio, Inc. <sup>(a)</sup> | 4784 | 12630 |
| Immunovant, Inc. <sup>(a)</sup> | 1926 | 30816 |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup> | 4711 | 186132 |
| Janux Therapeutics, Inc. <sup>(a)</sup> | 1116 | 25780 |
| Krystal Biotech, Inc. <sup>(a)</sup> | 760 | 104470 |
| Kymera Therapeutics, Inc. <sup>(a)</sup> | 1643 | 71701 |
| Merus NV <sup>(a)</sup> | 2214 | 116456 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Biotechnology - 5.2%** | | |
| MoonLake Immunotherapeutics <sup>(a)</sup> | 1132 | $53430 |
| Newamsterdam Pharma Co. NV <sup>(a)</sup> | 2211 | 40041 |
| Nuvalent, Inc. - Class A <sup>(a)</sup> | 1433 | 109338 |
| PTC Therapeutics, Inc. <sup>(a)</sup> | 2454 | 119853 |
| Recursion Pharmaceuticals, Inc. - Class A <sup>(a)</sup> | 11342 | 57391 |
| Rhythm Pharmaceuticals, Inc. <sup>(a)</sup> | 1923 | 121514 |
| Scholar Rock Holding Corp. <sup>(a)</sup> | 2413 | 85468 |
| SpringWorks Therapeutics, Inc. <sup>(a)</sup> | 2215 | 104083 |
| TG Therapeutics, Inc. <sup>(a)</sup> | 4386 | 157852 |
| Twist Bioscience Corp. <sup>(a)</sup> | 1772 | 65192 |
| Ultragenyx Pharmaceutical, Inc. <sup>(a)</sup> | 2829 | 102862 |
| Veracyte, Inc. <sup>(a)</sup> | 2234 | 60385 |
| Vericel Corp. <sup>(a)</sup> | 1538 | 65442 |
| Viking Therapeutics, Inc. <sup>(a)</sup> | 3233 | 85674 |
|  |  | 3158433 |
| **Health Care Equipment - 1.4%** |  |  |
| Enovis Corp. <sup>(a)</sup> | 1700 | 53312 |
| Envista Holdings Corp. <sup>(a)</sup> | 4836 | 94496 |
| Inspire Medical Systems, Inc. <sup>(a)</sup> | 903 | 117182 |
| Integer Holdings Corp. <sup>(a)</sup> | 1039 | 127766 |
| iRhythm Technologies, Inc. <sup>(a)</sup> | 1002 | 154268 |
| LivaNova PLC <sup>(a)</sup> | 1689 | 76039 |
| Novocure Ltd. <sup>(a)</sup> | 3079 | 54806 |
| PROCEPT BioRobotics Corp. <sup>(a)</sup> | 1615 | 93024 |
| QuidelOrtho Corp. <sup>(a)</sup> | 1892 | 54527 |
| Tandem Diabetes Care, Inc. <sup>(a)</sup> | 2188 | 40784 |
|  |  | 866204 |
| **Health Care Facilities - 0.4%** |  |  |
| Acadia Healthcare Co., Inc. <sup>(a)</sup> | 2803 | 63600 |
| Concentra Group Holdings Parent, Inc.  | 3787 | 77899 |
| Select Medical Holdings Corp.  | 3255 | 49411 |
| Surgery Partners, Inc. <sup>(a)</sup> | 2418 | 53752 |
|  |  | 244662 |
| **Health Care Services - 1.4%** |  |  |
| Addus HomeCare Corp. <sup>(a)</sup> | 518 | 59668 |
| Amedisys, Inc. <sup>(a)</sup> | 1028 | 101145 |
| BrightSpring Health Services, Inc. <sup>(a)</sup> | 2423 | 57159 |
| CorVel Corp. <sup>(a)</sup> | 910 | 93530 |
| Guardant Health, Inc. <sup>(a)</sup> | 3624 | 188593 |
| LifeStance Health Group, Inc. <sup>(a)</sup> | 2870 | 14838 |
| Option Care Health, Inc. <sup>(a)</sup> | 4948 | 160711 |
| Privia Health Group, Inc. <sup>(a)</sup> | 3255 | 74865 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Health Care Services - 1.4% (Continued)** | | |
| RadNet, Inc. <sup>(a)</sup> | 2076 | $118145 |
|  |  | 868654 |
| **Health Care Supplies - 0.8%** |  |  |
| Dentsply Sirona, Inc.  | 6164 | 97884 |
| Haemonetics Corp. <sup>(a)</sup> | 1447 | 107961 |
| ICU Medical, Inc. <sup>(a)</sup> | 717 | 94751 |
| Merit Medical Systems, Inc. <sup>(a)</sup> | 1781 | 166488 |
| Neogen Corp. <sup>(a)</sup> | 6901 | 32987 |
|  |  | 500071 |
| **Life Sciences Tools & Services - 0.2%** |  |  |
| Azenta, Inc. <sup>(a)</sup> | 1215 | 37398 |
| Sotera Health Co. <sup>(a)</sup> | 4864 | 54087 |
|  |  | 91485 |
| **Managed Health Care - 0.1%** |  |  |
| Alignment Healthcare, Inc. <sup>(a)</sup> | 3571 | 49994 |
| **Pharmaceuticals - 1.6%** |  |  |
| Amneal Pharmaceuticals, Inc. <sup>(a)</sup> | 4474 | 36195 |
| Axsome Therapeutics, Inc. <sup>(a)</sup> | 1239 | 129339 |
| Corcept Therapeutics, Inc. <sup>(a)</sup> | 2852 | 209337 |
| Edgewise Therapeutics, Inc. <sup>(a)</sup> | 2323 | 30454 |
| Elanco Animal Health, Inc. <sup>(a)</sup> | 15003 | 214243 |
| Organon & Co.  | 8279 | 80141 |
| Perrigo Co. PLC  | 4228 | 112972 |
| Prestige Consumer Healthcare, Inc. <sup>(a)</sup> | 1529 | 122091 |
| Scilex Holding Co. <sup>(a)</sup> | 2 | 14 |
|  |  | 934786 |
| **Total Health Care** |  | 6714289 |
| **<u>Industrials</u> - 17.6%** |  |  |
| **Aerospace & Defense - 2.1%** |  |  |
| AAR Corp. <sup>(a)</sup> | 1065 | 73261 |
| AeroVironment, Inc. <sup>(a)</sup> | 896 | 255315 |
| Archer Aviation, Inc. - Class A <sup>(a)</sup> | 13479 | 146247 |
| Hexcel Corp.  | 2554 | 144275 |
| Intuitive Machines, Inc. <sup>(a)</sup> | 3265 | 35490 |
| Kratos Defense & Security Solutions, Inc. <sup>(a)</sup> | 4717 | 219105 |
| Mercury Systems, Inc. <sup>(a)</sup> | 1581 | 85153 |
| Moog, Inc. - Class A  | 848 | 153463 |
| Spirit AeroSystems Holdings, Inc. - Class A <sup>(a)</sup> | 3686 | 140621 |
|  |  | 1252930 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Air Freight & Logistics - 0.4%** |  |  |
| GXO Logistics, Inc. <sup>(a)</sup> | 3509 | $170889 |
| Hub Group, Inc. - Class A  | 1782 | 59572 |
|  |  | 230461 |
| **Building Products - 1.3%** |  |  |
| Armstrong World Industries, Inc.  | 1298 | 210847 |
| AZZ, Inc.  | 912 | 86166 |
| CSW Industrials, Inc.  | 518 | 148578 |
| Griffon Corp.  | 1450 | 104937 |
| Hayward Holdings, Inc. <sup>(a)</sup> | 6373 | 87947 |
| Resideo Technologies, Inc. <sup>(a)</sup> | 4516 | 99623 |
| Tecnoglass, Inc.  | 686 | 53069 |
|  |  | 791167 |
| **Cargo Ground Transportation - 0.5%** |  |  |
| Landstar System, Inc.  | 1040 | 144581 |
| RXO, Inc. <sup>(a)</sup> | 5050 | 79386 |
| Schneider National, Inc. - Class B  | 1237 | 29873 |
| Werner Enterprises, Inc.  | 1949 | 53325 |
|  |  | 307165 |
| **Commercial Printing - 0.2%** |  |  |
| Brady Corp. - Class A  | 1339 | 91012 |
| **Construction & Engineering - 1.9%** |  |  |
| Arcosa, Inc.  | 1521 | 131886 |
| Construction Partners, Inc. - Class A <sup>(a)</sup> | 1421 | 151024 |
| Dycom Industries, Inc. <sup>(a)</sup> | 886 | 216530 |
| Everus Construction Group, Inc. <sup>(a)</sup> | 1616 | 102664 |
| Granite Construction, Inc.  | 1327 | 124088 |
| IES Holdings, Inc. <sup>(a)</sup> | 265 | 78501 |
| Primoris Services Corp.  | 1558 | 121430 |
| Sterling Infrastructure, Inc. <sup>(a)</sup> | 938 | 216425 |
|  |  | 1142548 |
| **Construction Machinery & Heavy Transportation Equipment - 1.1%** |  |  |
| Atmus Filtration Technologies, Inc.  | 2515 | 91596 |
| Federal Signal Corp.  | 1898 | 201985 |
| Oshkosh Corp.  | 2013 | 228556 |
| Terex Corp.  | 1943 | 90719 |
| Trinity Industries, Inc.  | 2463 | 66526 |
|  |  | 679382 |
| **Data Processing & Outsourced Services - 0.6%** |  |  |
| Concentrix Corp.  | 1692 | 89430 |
| Maximus, Inc.  | 1804 | 126641 |
| Verra Mobility Corp. <sup>(a)</sup> | 4653 | 118140 |
|  |  | 334211 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Diversified Support Services - 0.3%** |  |  |
| ACV Auctions, Inc. - Class A <sup>(a)</sup> | 5018 | $81392 |
| Driven Brands Holdings, Inc. <sup>(a)</sup> | 1687 | 29624 |
| UniFirst Corp./MA  | 466 | 87710 |
|  |  | 198726 |
| **Electrical Components & Equipment - 1.0%** |  |  |
| Atkore, Inc.  | 1132 | 79863 |
| EnerSys  | 1141 | 97864 |
| Fluence Energy, Inc. <sup>(a)</sup> | 1907 | 12796 |
| NEXTracker, Inc. - Class A <sup>(a)</sup> | 4342 | 236074 |
| Powell Industries, Inc.  | 274 | 57663 |
| Sensata Technologies Holding PLC  | 4429 | 133357 |
|  |  | 617617 |
| **Environmental & Facilities Services - 0.2%** |  |  |
| ABM Industries, Inc.  | 2029 | 95789 |
| **Heavy Electrical Equipment - 0.5%** |  |  |
| Bloom Energy Corp. - Class A <sup>(a)</sup> | 6315 | 151055 |
| NuScale Power Corp. <sup>(a)</sup> | 3634 | 143761 |
|  |  | 294816 |
| **Human Resource & Employment Services - 0.7%** |  |  |
| Alight, Inc. - Class A  | 13536 | 76614 |
| First Advantage Corp. <sup>(a)</sup> | 2287 | 37987 |
| Insperity, Inc.  | 1091 | 65591 |
| Korn Ferry  | 1623 | 119015 |
| ManpowerGroup, Inc.  | 1516 | 61246 |
| TriNet Group, Inc.  | 946 | 69190 |
|  |  | 429643 |
| **Industrial Machinery & Supplies & Components - 1.8%** |  |  |
| Albany International Corp. - Class A  | 940 | 65922 |
| Enerpac Tool Group Corp.  | 1552 | 62949 |
| Enpro, Inc.  | 648 | 124124 |
| ESCO Technologies, Inc.  | 805 | 154455 |
| Franklin Electric Co., Inc.  | 1246 | 111816 |
| Gates Industrial Corp. PLC <sup>(a)</sup> | 7352 | 169317 |
| Hillenbrand, Inc.  | 2257 | 45298 |
| Kadant, Inc.  | 353 | 112060 |
| Mueller Water Products, Inc. - Class A  | 4913 | 118109 |
| Timken Co.  | 1961 | 142271 |
|  |  | 1106321 |
| **Marine Transportation - 0.5%** |  |  |
| Kirby Corp. <sup>(a)</sup> | 1721 | 195179 |
| Matson, Inc.  | 946 | 105337 |
|  |  | 300516 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Office Services & Supplies - 0.4%** |  |  |
| HNI Corp.  | 1435 | $70573 |
| MSA Safety, Inc.  | 1136 | 190314 |
|  |  | 260887 |
| **Passenger Airlines - 0.4%** |  |  |
| Copa Holdings SA - Class A  | 249 | 27383 |
| JetBlue Airways Corp. <sup>(a)</sup> | 2537 | 10731 |
| Joby Aviation, Inc. <sup>(a)</sup> | 14755 | 155665 |
| SkyWest, Inc. <sup>(a)</sup> | 295 | 30376 |
|  |  | 224155 |
| **Passenger Ground Transportation - 0.4%** |  |  |
| Avis Budget Group, Inc. <sup>(a)</sup> | 515 | 87061 |
| Lyft, Inc. - Class A <sup>(a)</sup> | 11475 | 180846 |
|  |  | 267907 |
| **Research & Consulting Services - 1.1%** |  |  |
| Amentum Holdings, Inc. <sup>(a)</sup> | 6221 | 146878 |
| CBIZ, Inc. <sup>(a)</sup> | 1567 | 112370 |
| Clarivate PLC <sup>(a)</sup> | 13545 | 58243 |
| Dun & Bradstreet Holdings, Inc.  | 10323 | 93836 |
| Exponent, Inc.  | 1502 | 112214 |
| Science Applications International Corp.  | 1444 | 162609 |
|  |  | 686150 |
| **Security & Alarm Services - 0.2%** |  |  |
| Brink's Co.  | 1283 | 114559 |
| **Trading Companies & Distributors - 2.0%** |  |  |
| Air Lease Corp.  | 3109 | 181845 |
| Boise Cascade Co.  | 1105 | 95936 |
| GATX Corp.  | 1116 | 171373 |
| GMS, Inc. <sup>(a)</sup> | 1245 | 135394 |
| Herc Holdings, Inc.  | 1000 | 131690 |
| McGrath RentCorp  | 707 | 81984 |
| MSC Industrial Direct Co., Inc. - Class A  | 1328 | 112906 |
| QXO, Inc. <sup>(a)</sup> | 9829 | 211717 |
| Rush Enterprises, Inc. - Class A  | 1937 | 99775 |
| Rush Enterprises, Inc. - Class B  | 249 | 13067 |
|  |  | 1235687 |
| **Total Industrials** |  | 10661649 |
| **<u>Information Technology</u> - 13.5%** |  |  |
| **Application Software - 4.5%** |  |  |
| ACI Worldwide, Inc. <sup>(a)</sup> | 3323 | 152559 |
| Agilysys, Inc. <sup>(a)</sup> | 768 | 88043 |
| Alarm.com Holdings, Inc. <sup>(a)</sup> | 1488 | 84176 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Information Technology</u> - 13.5% (Continued)** | | |
| Alkami Technology, Inc. <sup>(a)</sup> | 2113 | $63686 |
| Asana, Inc. - Class A <sup>(a)</sup> | 2513 | 33925 |
| AvePoint, Inc. <sup>(a)</sup> | 4565 | 88150 |
| Bitdeer Technologies Group <sup>(a)</sup> | 2889 | 33166 |
| Blackbaud, Inc. <sup>(a)</sup> | 1456 | 93490 |
| BlackLine, Inc. <sup>(a)</sup> | 1804 | 102142 |
| Box, Inc. - Class A <sup>(a)</sup> | 4372 | 149391 |
| Braze, Inc. - Class A <sup>(a)</sup> | 2209 | 62073 |
| C3.ai, Inc. - Class A <sup>(a)</sup> | 3673 | 90246 |
| Cleanspark, Inc. <sup>(a)</sup> | 9089 | 100252 |
| Clear Secure, Inc. - Class A  | 2854 | 79227 |
| Five9, Inc. <sup>(a)</sup> | 2276 | 60268 |
| Freshworks, Inc. - Class A <sup>(a)</sup> | 7086 | 105652 |
| Intapp, Inc. <sup>(a)</sup> | 1675 | 86463 |
| InterDigital, Inc.  | 798 | 178936 |
| Life360, Inc. <sup>(a)</sup> | 2376 | 155034 |
| MARA Holdings, Inc. <sup>(a)</sup> | 10319 | 161802 |
| nCino, Inc. <sup>(a)</sup> | 3258 | 91126 |
| Q2 Holdings, Inc. <sup>(a)</sup> | 1813 | 169679 |
| RingCentral, Inc. - Class A <sup>(a)</sup> | 2617 | 74192 |
| Riot Platforms, Inc. <sup>(a)</sup> | 9919 | 112085 |
| SEMrush Holdings, Inc. - Class A <sup>(a)</sup> | 1465 | 13258 |
| SoundHound AI, Inc. - Class A <sup>(a)</sup> | 10664 | 114425 |
| Workiva, Inc. <sup>(a)</sup> | 1537 | 105208 |
| Zeta Global Holdings Corp. - Class A <sup>(a)</sup> | 5730 | 88758 |
|  |  | 2737412 |
| **Communications Equipment - 0.5%** |  |  |
| Calix, Inc. <sup>(a)</sup> | 1811 | 96327 |
| Lumentum Holdings, Inc. <sup>(a)</sup> | 2119 | 201432 |
|  |  | 297759 |
| **Electronic Components - 0.5%** |  |  |
| Belden, Inc.  | 1198 | 138728 |
| Littelfuse, Inc.  | 741 | 168007 |
|  |  | 306735 |
| **Electronic Equipment & Instruments - 2.1%** |  |  |
| Advanced Energy Industries, Inc.  | 1147 | 151978 |
| Badger Meter, Inc.  | 880 | 215556 |
| Crane NXT Co.  | 1487 | 80149 |
| Itron, Inc. <sup>(a)</sup> | 1376 | 181123 |
| Mirion Technologies, Inc. <sup>(a)</sup> | 6004 | 129266 |
| Novanta, Inc. <sup>(a)</sup> | 1140 | 146980 |
| OSI Systems, Inc. <sup>(a)</sup> | 497 | 111755 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Electronic Equipment & Instruments - 2.1% (Continued)** | | |
| PAR Technology Corp. <sup>(a)</sup> | 1212 | $84076 |
| Vontier Corp.  | 4495 | 165866 |
|  |  | 1266749 |
| **Electronic Manufacturing Services - 0.7%** |  |  |
| IPG Photonics Corp. <sup>(a)</sup> | 776 | 53272 |
| Plexus Corp. <sup>(a)</sup> | 845 | 114337 |
| Sanmina Corp. <sup>(a)</sup> | 1575 | 154082 |
| TTM Technologies, Inc. <sup>(a)</sup> | 3025 | 123481 |
|  |  | 445172 |
| **Internet Services & Infrastructure - 0.1%** |  |  |
| DigitalOcean Holdings, Inc. <sup>(a)</sup> | 1914 | 54664 |
| **IT Consulting & Other Services - 0.2%** |  |  |
| ASGN, Inc. <sup>(a)</sup> | 1364 | 68105 |
| DXC Technology Co. <sup>(a)</sup> | 5735 | 87688 |
|  |  | 155793 |
| **Semiconductor Materials & Equipment - 0.3%** |  |  |
| Amkor Technology, Inc.  | 3648 | 76572 |
| FormFactor, Inc. <sup>(a)</sup> | 2425 | 83444 |
|  |  | 160016 |
| **Semiconductors - 2.1%** |  |  |
| Ambarella, Inc. <sup>(a)</sup> | 1145 | 75644 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 1618 | 168685 |
| Diodes, Inc. <sup>(a)</sup> | 1418 | 74998 |
| Impinj, Inc. <sup>(a)</sup> | 785 | 87190 |
| Power Integrations, Inc.  | 1810 | 101179 |
| Rambus, Inc. <sup>(a)</sup> | 3349 | 214403 |
| Rigetti Computing, Inc. <sup>(a)</sup> | 8627 | 102316 |
| Semtech Corp. <sup>(a)</sup> | 2620 | 118267 |
| Silicon Laboratories, Inc. <sup>(a)</sup> | 972 | 143234 |
| SiTime Corp. <sup>(a)</sup> | 562 | 119751 |
| Synaptics, Inc. <sup>(a)</sup> | 1242 | 80506 |
|  |  | 1286173 |
| **Systems Software - 1.7%** |  |  |
| Appian Corp. - Class A <sup>(a)</sup> | 1275 | 38072 |
| Nebius Group NV <sup>(a)</sup> | 5890 | 325894 |
| Progress Software Corp.  | 1336 | 85290 |
| Qualys, Inc. <sup>(a)</sup> | 1133 | 161872 |
| Rapid7, Inc. <sup>(a)</sup> | 1892 | 43762 |
| Tenable Holdings, Inc. <sup>(a)</sup> | 3705 | 125155 |
| Teradata Corp. <sup>(a)</sup> | 3079 | 68692 |
| Varonis Systems, Inc. <sup>(a)</sup> | 3275 | 166206 |
|  |  | 1014943 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Technology Distributors - 0.8%** |  |  |
| Arrow Electronics, Inc. <sup>(a)</sup> | 1583 | $201722 |
| Avnet, Inc.  | 2624 | 139282 |
| Insight Enterprises, Inc. <sup>(a)</sup> | 952 | 131457 |
|  |  | 472461 |
| **Total Information Technology** |  | 8197877 |
| **<u>Materials</u> - 4.9%** |  |  |
| **Commodity Chemicals - 0.3%** |  |  |
| Cabot Corp.  | 1635 | 122625 |
| Olin Corp.  | 3602 | 72364 |
|  |  | 194989 |
| **Construction Materials - 0.3%** |  |  |
| Knife River Corp. <sup>(a)</sup> | 1718 | 140257 |
| United States Lime & Minerals, Inc.  | 316 | 31537 |
|  |  | 171794 |
| **Diversified Chemicals - 0.2%** |  |  |
| Chemours Co.  | 4698 | 53792 |
| Huntsman Corp.  | 5268 | 54893 |
|  |  | 108685 |
| **Diversified Metals & Mining - 0.2%** |  |  |
| MP Materials Corp. <sup>(a)</sup> | 4090 | 136074 |
| **Fertilizers & Agricultural Chemicals - 0.1%** |  |  |
| Scotts Miracle-Gro Co.  | 1310 | 86408 |
| **Gold - 0.3%** |  |  |
| Coeur Mining, Inc. <sup>(a)</sup> | 18157 | 160871 |
| **Metal, Glass & Plastic Containers - 0.3%** |  |  |
| Greif, Inc. - Class A  | 733 | 47638 |
| Greif, Inc. - Class B  | 62 | 4279 |
| Silgan Holdings, Inc.  | 2663 | 144281 |
|  |  | 196198 |
| **Paper & Plastic Packaging Products & Materials - 0.5%** |  |  |
| Sealed Air Corp.  | 4561 | 141528 |
| Sonoco Products Co.  | 3049 | 132814 |
|  |  | 274342 |
| **Paper Products - 0.1%** |  |  |
| Sylvamo Corp.  | 1085 | 54358 |
| **Silver - 0.2%** |  |  |
| Hecla Mining Co.  | 18507 | 110857 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Specialty Chemicals - 1.7%** |  |  |
| Ashland, Inc.  | 1538 | $77331 |
| Avient Corp.  | 2854 | 92213 |
| Balchem Corp.  | 1031 | 164135 |
| Element Solutions, Inc.  | 6919 | 156715 |
| HB Fuller Co.  | 1693 | 101834 |
| Innospec, Inc.  | 765 | 64329 |
| Minerals Technologies, Inc.  | 1012 | 55731 |
| NewMarket Corp.  | 246 | 169952 |
| Quaker Chemical Corp.  | 432 | 48358 |
| Sensient Technologies Corp.  | 1301 | 128174 |
|  |  | 1058772 |
| **Steel - 0.7%** |  |  |
| Alpha Metallurgical Resources, Inc. <sup>(a)</sup> | 335 | 37681 |
| Cleveland-Cliffs, Inc. <sup>(a)</sup> | 14559 | 110648 |
| Commercial Metals Co.  | 3568 | 174511 |
| Warrior Met Coal, Inc.  | 1641 | 75207 |
|  |  | 398047 |
| **Total Materials** |  | 2951395 |
| **<u>Real Estate</u> - 0.6%** |  |  |
| **Diversified Real Estate Activities - 0.1%** |  |  |
| St Joe Co.  | 1251 | 59673 |
| **Real Estate Development - 0.1%** |  |  |
| Howard Hughes Holdings, Inc. <sup>(a)</sup> | 1018 | 68715 |
| **Real Estate Operating Companies - 0.1%** |  |  |
| Landbridge Co. LLC - Class A  | 645 | 43589 |
| **Real Estate Services - 0.3%** |  |  |
| Compass, Inc. - Class A <sup>(a)</sup> | 15236 | 95682 |
| Cushman & Wakefield PLC <sup>(a)</sup> | 6976 | 77224 |
| Newmark Group, Inc. - Class A  | 4251 | 51650 |
|  |  | 224556 |
| **Total Real Estate** |  | 396533 |
| **<u>Utilities</u> - 4.5%** |  |  |
| **Electric Utilities - 1.6%** |  |  |
| ALLETE, Inc.  | 1849 | 118465 |
| IDACORP, Inc.  | 1646 | 190031 |
| MGE Energy, Inc.  | 1116 | 98699 |
| Oklo, Inc. <sup>(a)</sup> | 3295 | 184487 |
| Otter Tail Corp.  | 1297 | 99986 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 92.0% (CONTINUED)** | **Shares** | **Value**  |
| **Electric Utilities - 1.6% (Continued)** | | |
| Portland General Electric Co.  | 3318 | $134810 |
| TXNM Energy, Inc.  | 2879 | 162145 |
|  |  | 988623 |
| **Gas Utilities - 1.6%** |  |  |
| Chesapeake Utilities Corp.  | 727 | 87400 |
| MDU Resources Group, Inc.  | 6101 | 101704 |
| National Fuel Gas Co.  | 2730 | 231258 |
| New Jersey Resources Corp.  | 3116 | 139659 |
| ONE Gas, Inc.  | 1829 | 131432 |
| Southwest Gas Holdings, Inc.  | 1907 | 141862 |
| Spire, Inc.  | 1773 | 129411 |
|  |  | 962726 |
| **Multi-Utilities - 0.5%** |  |  |
| Avista Corp.  | 2446 | 92826 |
| Black Hills Corp.  | 2226 | 124878 |
| Northwestern Energy Group, Inc.  | 1904 | 97675 |
|  |  | 315379 |
| **Renewable Electricity - 0.5%** |  |  |
| Clearway Energy, Inc. - Class A  | 1080 | 32681 |
| Clearway Energy, Inc. - Class C  | 2488 | 79616 |
| Ormat Technologies, Inc.  | 1850 | 154956 |
|  |  | 267253 |
| **Water Utilities - 0.3%** |  |  |
| American States Water Co.  | 1128 | 86473 |
| California Water Service Group  | 1844 | 83865 |
|  |  | 170338 |
| **Total Utilities** |  | 2704319 |
| **TOTAL COMMON STOCKS** (Cost $51,707,762) |  | 55828869 |
| **REAL ESTATE INVESTMENT TRUSTS - 7.8%** |  |  |
| **<u>Financials</u> - 0.9%** |  |  |
| **Mortgage REITs - 0.9%** |  |  |
| Arbor Realty Trust, Inc.  | 5860 | 62702 |
| Blackstone Mortgage Trust, Inc. - Class A  | 5078 | 97751 |
| Rithm Capital Corp.  | 16110 | 181882 |
| Starwood Property Trust, Inc.  | 10040 | 201503 |
| **Total Financials** |  | 543838 |
| **<u>Industrials</u> - 0.1%** |  |  |
| **Security & Alarm Services - 0.1%** |  |  |
| GEO Group, Inc. <sup>(a)</sup> | 4100 | 98195 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 7.8% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Real Estate</u> - 6.8%** | |  |
| **Diversified REITs - 0.5%** |  |  |
| Broadstone Net Lease, Inc.  | 5871 | $94230 |
| Essential Properties Realty Trust, Inc.  | 6010 | 191779 |
|  |  | 286009 |
| **Health Care REITs - 1.4%** |  |  |
| American Healthcare REIT, Inc.  | 4811 | 176756 |
| CareTrust REIT, Inc.  | 5936 | 181641 |
| Healthcare Realty Trust, Inc.  | 10738 | 170305 |
| Medical Properties Trust, Inc.  | 14100 | 60771 |
| National Health Investors, Inc.  | 1348 | 94522 |
| Sabra Health Care REIT, Inc.  | 7289 | 134409 |
|  |  | 818404 |
| **Hotel & Resort REITs - 0.5%** |  |  |
| Apple Hospitality REIT, Inc.  | 6972 | 81363 |
| Park Hotels & Resorts, Inc.  | 5082 | 51989 |
| Ryman Hospitality Properties, Inc.  | 1821 | 179678 |
|  |  | 313030 |
| **Industrial REITs - 1.0%** |  |  |
| Americold Realty Trust, Inc.  | 8857 | 147292 |
| LXP Industrial Trust  | 9060 | 74836 |
| STAG Industrial, Inc.  | 5677 | 205962 |
| Terreno Realty Corp.  | 3049 | 170957 |
|  |  | 599047 |
| **Multi-Family Residential REITs - 0.2%** |  |  |
| Independence Realty Trust, Inc.  | 7122 | 125988 |
| **Office REITs - 1.1%** |  |  |
| COPT Defense Properties  | 3547 | 97826 |
| Cousins Properties, Inc.  | 5082 | 152613 |
| Douglas Emmett, Inc.  | 5033 | 75696 |
| Highwoods Properties, Inc.  | 3307 | 102815 |
| Kilroy Realty Corp.  | 3704 | 127084 |
| SL Green Realty Corp.  | 2173 | 134509 |
|  |  | 690543 |
| **Other Specialized REITs - 0.5%** |  |  |
| EPR Properties  | 2332 | 135862 |
| Four Corners Property Trust, Inc.  | 3118 | 83906 |
| Outfront Media, Inc.  | 4693 | 76590 |
|  |  | 296358 |
| **Retail REITs - 1.2%** |  |  |
| Acadia Realty Trust  | 3480 | 64624 |
| Curbline Properties Corp.  | 3044 | 69494 |
| Kite Realty Group Trust  | 6952 | 157463 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE SMALL-CAP ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 7.8% (CONTINUED)** | **Shares** | **Value**  |
| **Retail REITs - 1.2% (Continued)** | | |
| Macerich Co.  | 7454 | $120606 |
| Phillips Edison & Co., Inc.  | 3880 | 135916 |
| Tanger, Inc.  | 3502 | 107091 |
| Urban Edge Properties  | 3970 | 74080 |
|  |  | 729274 |
| **Self-Storage REITs - 0.1%** |  |  |
| National Storage Affiliates Trust  | 2164 | 69226 |
| **Timber REITs - 0.3%** |  |  |
| PotlatchDeltic Corp.  | 2451 | 94045 |
| Rayonier, Inc.  | 4667 | 103514 |
|  |  | 197559 |
| **Total Real Estate** |  | 4125438 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $4,601,905) |  | 4767471 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Funds - 0.1%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(b)</sup> | 42872 | 42872 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $42,872) |  | 42872 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $56,352,539**)** |  | $60639212 |
| Other Assets in Excess of Liabilities - 0.1%  |  | 62026 |
| **TOTAL NET ASSETS - 100.0%** |  | $60701238 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| LLC - Limited Liability Company |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |

---

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES - 44.0%**<sup>(a)</sup>  | **Par** | **Value**  |
| Federal Home Loan Mortgage Corp. |  |  |
| Pool QF3730, 5.00%, 11/01/2052  | $798016 | $787288 |
| Pool QF5342, 4.00%, 12/01/2052  | 1383503 | 1287081 |
| Pool QI2043, 6.00%, 03/01/2054  | 284242 | 290247 |
| Pool QI4343, 4.50%, 04/01/2054  | 2368552 | 2270466 |
| Pool QJ0225, 6.00%, 07/01/2054  | 1193524 | 1219486 |
| Pool QJ6384, 5.50%, 10/01/2054  | 452488 | 452786 |
| Pool QJ7677, 5.50%, 11/01/2054  | 1982196 | 1987216 |
| Pool QJ7705, 5.00%, 11/01/2054  | 490351 | 481671 |
| Pool QJ7711, 5.00%, 11/01/2054  | 950053 | 932641 |
| Pool QX1669, 5.00%, 12/01/2054  | 907387 | 899264 |
| Pool SD1961, 5.50%, 12/01/2052  | 360552 | 360564 |
| Pool SD2500, 5.00%, 03/01/2053  | 877648 | 860466 |
| Pool SD5781, 6.00%, 07/01/2054  | 607558 | 621153 |
| Pool SD6591, 5.00%, 10/01/2054  | 467448 | 458296 |
| Pool SD7029, 5.00%, 12/01/2054  | 985977 | 976534 |
| Pool SD8134, 2.00%, 03/01/2051  | 1424582 | 1132033 |
| Pool SD8256, 4.00%, 10/01/2052  | 1869815 | 1739500 |
| Pool SD8322, 4.50%, 05/01/2053  | 873285 | 835483 |
| Pool SD8325, 6.00%, 05/01/2053  | 915227 | 931988 |
| Pool SD8384, 6.00%, 12/01/2053  | 1914362 | 1945832 |
| Pool SL0079, 5.00%, 02/01/2055  | 991052 | 974686 |
| Pool SL0741, 6.00%, 02/01/2055  | 989375 | 1009720 |
| Federal National Mortgage Association |  |  |
| Pool BW8868, 5.00%, 10/01/2052  | 1815451 | 1782180 |
| Pool CB4379, 4.00%, 08/01/2052  | 2276495 | 2122818 |
| Pool DB6624, 5.50%, 06/01/2054  | 646146 | 650986 |
| Pool DC9709, 6.00%, 01/01/2055  | 495098 | 505403 |
| Pool FA0516, 5.00%, 02/01/2055  | 991897 | 974958 |
| Pool FS3826, 3.00%, 01/01/2052  | 3215930 | 2791685 |
| Pool FS4932, 6.00%, 06/01/2053  | 699660 | 715097 |
| Pool FS5635, 4.00%, 11/01/2052  | 1781926 | 1657736 |
| Pool FS8417, 4.00%, 10/01/2052  | 1022013 | 957811 |
| Pool FS9287, 5.50%, 09/01/2054  | 979916 | 981786 |
| Pool MA4356, 2.50%, 06/01/2051  | 1393763 | 1164124 |
| Pool MA4919, 5.50%, 02/01/2053  | 858389 | 858417 |
| Pool MA4941, 5.50%, 03/01/2053  | 832987 | 833015 |
| Pool MA5008, 4.50%, 05/01/2053  | 1304740 | 1248262 |
| Pool MA5039, 5.50%, 06/01/2053  | 908695 | 908725 |
| Pool MA5109, 6.50%, 08/01/2053  | 314755 | 325979 |
| Pool MA5165, 5.50%, 10/01/2053  | 849628 | 849656 |
| Pool MB0302, 5.50%, 02/01/2055  | 984295 | 984327 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES - 44.0%**<sup>(a)</sup> **(CONTINUED)** | **Par** | **Value**  |
| Ginnie Mae II Pool |  |  |
| Pool MA8493, 6.50%, 12/20/2052  | $99188 | $101830 |
| Pool MA8570, 5.50%, 01/20/2053  | 724873 | 725803 |
| Pool MA8647, 5.00%, 02/20/2053  | 812245 | 798026 |
| Pool MA8725, 5.00%, 03/20/2053  | 412082 | 404868 |
| Pool MA8726, 5.50%, 03/20/2053  | 670789 | 671650 |
| Pool MA8727, 6.00%, 03/20/2053  | 982946 | 997031 |
| Pool MA8800, 5.00%, 04/20/2053  | 418401 | 411076 |
| Pool MA8801, 5.50%, 04/20/2053  | 841464 | 843595 |
| Pool MA8877, 4.50%, 05/20/2053  | 1321598 | 1265422 |
| Pool MA8878, 5.00%, 05/20/2053  | 523102 | 513944 |
| Pool MA8879, 5.50%, 05/20/2053  | 839431 | 840508 |
| Pool MA8880, 6.00%, 05/20/2053  | 653962 | 663333 |
| Pool MA8948, 5.50%, 06/20/2053  | 1032385 | 1033709 |
| Pool MA8949, 6.00%, 06/20/2053  | 1034141 | 1051545 |
| Pool MA9018, 6.00%, 07/20/2053  | 338850 | 343706 |
| Pool MA9105, 5.00%, 08/20/2053  | 1768862 | 1737896 |
| Pool MA9166, 3.00%, 09/20/2053  | 165330 | 146878 |
| Pool MA9305, 5.50%, 11/20/2053  | 750632 | 751596 |
| Pool MA9539, 4.50%, 03/20/2054  | 955166 | 914864 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $56,809,820) |  | 56984646 |
| **ASSET-BACKED SECURITIES - 16.1%** |  |  |
| ACHV ABS TRUST, Series 2024-2PL, Class D, 6.40%, 10/27/2031 <sup>(b)</sup> | 376753 | 378030 |
| Affirm, Inc., Series 2024-A, Class D, 6.89%, 02/15/2029 <sup>(b)</sup> | 200000 | 201895 |
| American Heritage Auto Receivables Trust, Series 2024-1A, Class D, 6.34%, 01/18/2033 <sup>(b)</sup> | 250000 | 256312 |
| Avis Budget Car Rental LLC |  |  |
| Series 2023-1A, Class C, 6.23%, 04/20/2029 <sup>(b)</sup> | 300000 | 306676 |
| Series 2025-2A, Class C, 6.24%, 08/20/2031 <sup>(b)</sup> | 1000000 | 1026286 |
| Bankers Healthcare Group, Inc., Series 2024-1CON, Class C, 6.86%, 04/17/2035 <sup>(b)</sup> | 400000 | 410843 |
| Carvana Auto Receivables Trust |  |  |
| Series 2023-P4, Class D, 7.37%, 10/10/2030 <sup>(b)</sup> | 1000000 | 1062453 |
| Series 2023-P5, Class D, 7.18%, 12/10/2030 <sup>(b)</sup> | 1000000 | 1063416 |
| Series 2024-P2, Class D, 6.10%, 06/10/2031  | 250000 | 257286 |
| Series 2024-P3, Class D, 5.39%, 09/10/2032  | 500000 | 499375 |
| COLT Funding LLC, Series 2022-4, Class A2, 4.50%, 03/25/2067 <sup>(b)(c)</sup> | 412617 | 397648 |
| Ellington Financial Mortgage Trust, Series 2021-2, Class M1, 2.30%, 06/25/2066 <sup>(b)(c)</sup> | 885000 | 606958 |
| FHF Trust |  |  |
| Series 2024-2A, Class C, 6.43%, 07/15/2030 <sup>(b)</sup> | 790000 | 810857 |
| Series 2024-2A, Class D, 7.15%, 09/15/2031 <sup>(b)</sup> | 500000 | 515393 |
| Series 2024-3A, Class D, 6.01%, 12/15/2031 <sup>(b)</sup> | 500000 | 501623 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES - 16.1%** | **Par** | **Value**  |
| FIGRE Trust 2024-HE1, Series 2024-HE1, Class B, 6.51%, 03/25/2054 <sup>(b)(c)</sup> | $735856 | $760727 |
| FREED ABS Trust |  |  |
| Series 2021-3FP, Class D, 2.37%, 11/20/2028 <sup>(b)</sup> | 45517 | 45324 |
| Series 2022-4FP, Class D, 7.40%, 12/18/2029 <sup>(b)</sup> | 199923 | 201309 |
| GCAT, Series 2021-NQM4, Class A3, 1.56%, 08/25/2066 <sup>(b)(c)</sup> | 1073305 | 881967 |
| GLS Auto Select Receivables Trust, Series 2024-2A, Class D, 6.37%, 08/15/2031 <sup>(b)</sup> | 1000000 | 1032877 |
| GoodLeap Sustainable Home Solutions Trust, Series 2022-1GS, Class A, 2.70%, 01/20/2049 <sup>(b)</sup> | 126580 | 108110 |
| GreenSky LLC |  |  |
| Series 2024-1, Class D, 7.33%, 06/25/2059 <sup>(b)</sup> | 500000 | 519531 |
| Series 2024-2, Class D, 6.43%, 10/27/2059 <sup>(b)</sup> | 1000000 | 1013406 |
| Helios Issuer LLC, Series 2021-B, Class A, 1.62%, 07/20/2048 <sup>(b)</sup> | 74814 | 62326 |
| Hertz Corp., Series 2023-4A, Class C, 7.51%, 03/25/2030 <sup>(b)</sup> | 500000 | 518069 |
| Marlette Funding Trust |  |  |
| Series 2023-2A, Class D, 7.92%, 06/15/2033 <sup>(b)</sup> | 300000 | 310527 |
| Series 2024-1A, Class D, 6.93%, 07/17/2034 <sup>(b)</sup> | 500000 | 514205 |
| MFRA Trust, Series 2021-NQM2, Class A3, 1.47%, 11/25/2064 <sup>(b)(c)</sup> | 362112 | 318435 |
| Octane Receivables Trust, Series 2024-RVM1, Class D, 6.30%, <br>01/22/2046 <sup>(b)</sup> | 500000 | 505113 |
| Pagaya AI Debt Selection Trust, Series 2025-1, Class D, 6.28%, 07/15/2032 <sup>(b)</sup> | 999915 | 1003525 |
| PRPM LLC, Series 2022-NQM1, Class A3, 5.50%, 08/25/2067 <sup>(b)(d)</sup> | 264954 | 272508 |
| Purchasing Power Funding, Series 2024-A, Class D, 7.26%, 08/15/2028 <sup>(b)</sup> | 200000 | 202112 |
| Republic Finance Issuance Trust, Series 2024-A, Class C, 7.28%, 08/20/2032 <sup>(b)</sup> | 250000 | 256918 |
| Saluda Grade Mortgage Funding LLC, Series 2023-FIG4, Class A, 6.72%, 11/25/2053 <sup>(b)(c)</sup> | 367151 | 379572 |
| SBNA Auto Receivables Trust 2024-A, Series 2024-A, Class D, 6.04%, 04/15/2030 <sup>(b)</sup> | 500000 | 510631 |
| SoFi Consumer Loan Program Trust, Series 2025-1, Class D, 5.72%, 02/27/2034 <sup>(b)</sup> | 1000000 | 1012257 |
| Sunnova Energy International, Inc., Series 2023-B, Class A, 5.30%, 08/22/2050 <sup>(b)</sup> | 86780 | 79305 |
| Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/2028 <sup>(b)</sup> | 200000 | 202619 |
| Towd Point Mortgage Trust, Series 2024-4, Class A2, 4.43%, <br>10/27/2064 <sup>(b)(c)</sup> | 1500000 | 1357300 |
| Veros Automobile Receivables Trust, Series 2024-1, Class C, 7.57%, 12/15/2028 <sup>(b)</sup> | 500000 | 514394 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $20,488,793) |  | 20878118 |
| **U.S. TREASURY SECURITIES - 13.7%** |  |  |
| **Government - 13.7%** |  |  |
| United States Treasury Note/Bond |  |  |
| 4.63%, 11/15/2026  | 1350000 | 1363289 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **U.S. TREASURY SECURITIES - 13.7%** | **Par** | **Value** |
| **Government - 13.7% (Continued)** | | |
| 0.63%, 03/31/2027  | $800000 | $757938 |
| 4.38%, 08/31/2028  | 1000000 | 1019961 |
| 3.50%, 04/30/2030  | 1000000 | 987324 |
| 4.13%, 08/31/2030  | 1000000 | 1014648 |
| 1.25%, 08/15/2031  | 1000000 | 855664 |
| 1.88%, 02/15/2032  | 1900000 | 1669440 |
| 4.13%, 11/15/2032  | 1200000 | 1208531 |
| 3.50%, 02/15/2033  | 1000000 | 964297 |
| 3.88%, 08/15/2033  | 1000000 | 985078 |
| 4.38%, 05/15/2034  | 1000000 | 1015898 |
| 4.50%, 05/15/2038  | 1000000 | 1012109 |
| 3.50%, 02/15/2039  | 1200000 | 1083891 |
| 1.13%, 05/15/2040  | 2000000 | 1244063 |
| 1.13%, 08/15/2040  | 1000000 | 615508 |
| 3.88%, 08/15/2040  | 1200000 | 1104328 |
| 1.88%, 11/15/2051  | 1500000 | 835078 |
| **TOTAL U.S. TREASURY SECURITIES** (Cost $17,729,741) |  | 17737045 |
| **CORPORATE BONDS - 10.0%** |  |  |
| **<u>Communication Services</u> - 0.4%** |  |  |
| **Cable & Satellite - 0.1%** |  |  |
| Comcast Corp., 6.50%, 11/15/2035  | 100000 | 111158 |
| **Integrated Telecommunication Services - 0.2%** |  |  |
| AT&T, Inc., 4.90%, 08/15/2037  | 100000 | 95906 |
| Verizon Communications, Inc., 4.27%, 01/15/2036  | 200000 | 184977 |
|  |  | 280883 |
| **Technology - 0.1%** |  |  |
| T-Mobile USA, Inc., 5.05%, 07/15/2033  | 150000 | 151079 |
| **Total Communication Services** |  | 543120 |
| **<u>Consumer Discretionary</u> - 0.7%** |  |  |
| **Automotive - 0.1%** |  |  |
| General Motors Financial Co., Inc., 6.10%, 01/07/2034  | 100000 | 102972 |
| **Automotive Parts & Equipment - 0.1%** |  |  |
| BorgWarner, Inc., 5.40%, 08/15/2034  | 100000 | 101192 |
| Phinia, Inc., 6.75%, 04/15/2029 <sup>(b)</sup> | 100000 | 103343 |
|  |  | 204535 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Automotive Retail - 0.1%** | | |
| O'Reilly Automotive, Inc., 4.70%, 06/15/2032  | $150000 | $149001 |
| **CORP - 0.1%** |  |  |
| Ford Motor Credit Co. LLC, 6.13%, 03/08/2034  | 100000 | 97393 |
| **Home Improvement Retail - 0.1%** |  |  |
| Lowe's Cos., Inc., 5.15%, 07/01/2033  | 100000 | 102094 |
| **Homebuilding - 0.2%** |  |  |
| Meritage Homes Corp., 5.65%, 03/15/2035  | 150000 | 150537 |
| PulteGroup, Inc., 6.38%, 05/15/2033  | 100000 | 107347 |
|  |  | 257884 |
| **Total Consumer Discretionary** |  | 913879 |
| **<u>Consumer Staples</u> - 1.4%** |  |  |
| **Agricultural Products & Services - 0.1%** |  |  |
| Bunge Ltd. Finance Corp., 2.75%, 05/14/2031  | 200000 | 181121 |
| **Brewers - 0.1%** |  |  |
| Molson Coors Beverage Co., 4.20%, 07/15/2046  | 100000 | 79850 |
| **Distillers & Vintners - 0.1%** |  |  |
| Brown-Forman Corp., 4.00%, 04/15/2038  | 100000 | 87986 |
| Constellation Brands, Inc., 4.90%, 05/01/2033  | 100000 | 99142 |
|  |  | 187128 |
| **Food & Beverage - 0.2%** |  |  |
| JBS USA Holding Lux Sarl/ JBS USA Food Co./ JBS Lux Co. Sarl, 6.75%, 03/15/2034  | 93000 | 101583 |
| Mars, Inc., 5.20%, 03/01/2035 <sup>(b)</sup> | 200000 | 202496 |
|  |  | 304079 |
| **Food Retail - 0.1%** |  |  |
| Kroger Co., 5.00%, 09/15/2034  | 100000 | 99347 |
| **Packaged Foods & Meats - 0.5%** |  |  |
| Conagra Brands, Inc., 5.30%, 11/01/2038  | 100000 | 95787 |
| J M Smucker Co., 6.20%, 11/15/2033  | 200000 | 214764 |
| Kraft Heinz Foods Co., 6.88%, 01/26/2039  | 100000 | 110689 |
| The Campbell's Co., 5.40%, 03/21/2034  | 100000 | 101623 |
| Tyson Foods, Inc., 4.88%, 08/15/2034  | 100000 | 97506 |
|  |  | 620369 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Soft Drinks & Non-alcoholic Beverages - 0.2%** | | |
| Keurig Dr Pepper, Inc., 5.30%, 03/15/2034  | $200000 | $204844 |
| **Tobacco - 0.1%** |  |  |
| Philip Morris International, Inc., 5.25%, 02/13/2034  | 100000 | 102048 |
| **Total Consumer Staples** |  | 1778786 |
| **<u>Energy</u> - 1.0%** |  |  |
| **Midstream - 0.1%** |  |  |
| Cheniere Corpus Christi Holdings LLC, 2.74%, 12/31/2039  | 100000 | 81437 |
| Plains All American Pipeline LP / PAA Finance Corp., 5.70%, 09/15/2034  | 100000 | 102001 |
|  |  | 183438 |
| **Oil & Gas Exploration & Production - 0.2%** |  |  |
| Continental Resources, Inc., 5.75%, 01/15/2031 <sup>(b)</sup> | 100000 | 101005 |
| Greenfire Resources Ltd., 12.00%, 10/01/2028 <sup>(b)</sup> | 40000 | 42279 |
| Hess Corp., 7.13%, 03/15/2033  | 100000 | 113430 |
|  |  | 256714 |
| **Oil & Gas Storage & Transportation - 0.6%** |  |  |
| Cheniere Energy Partners LP, 5.75%, 08/15/2034  | 100000 | 102748 |
| Energy Transfer LP, 7.38%, 02/01/2031 <sup>(b)</sup> | 100000 | 104798 |
| Kinder Morgan, Inc., 5.95%, 08/01/2054  | 100000 | 98249 |
| MPLX LP, 5.00%, 03/01/2033  | 100000 | 98660 |
| ONEOK, Inc., 6.05%, 09/01/2033  | 100000 | 104972 |
| Targa Resources Corp., 6.50%, 03/30/2034  | 100000 | 107512 |
| Western Midstream Operating LP, 6.15%, 04/01/2033  | 100000 | 104127 |
| Williams Cos., Inc., 5.65%, 03/15/2033  | 100000 | 103974 |
|  |  | 825040 |
| **Oil Field Services - 0.1%** |  |  |
| Shelf Drilling Holdings Ltd., 9.63%, 04/15/2029 <sup>(b)</sup> | 100000 | 80193 |
| **Total Energy** |  | 1345385 |
| **<u>Financials</u> - 3.4%** |  |  |
| **Commercial & Residential Mortgage Finance - 0.4%** |  |  |
| Enact Holdings, Inc., 6.25%, 05/28/2029  | 100000 | 103818 |
| NMI Holdings, Inc., 6.00%, 08/15/2029  | 100000 | 102735 |
| Radian Group, Inc., 6.20%, 05/15/2029  | 250000 | 259890 |
|  |  | 466443 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Consumer Finance - 0.3%** | | |
| American Express Co., 5.28% to 07/26/2034 then SOFR + 1.42%, 07/26/2035  | $200000 | $202556 |
| Capital One Financial Corp., 5.82% to 02/01/2033 then SOFR + 2.60%, 02/01/2034  | 200000 | 206406 |
|  |  | 408962 |
| **Diversified Banks - 1.0%** |  |  |
| Bank of America Corp., 2.48% to 09/21/2031 then 5 yr. CMT Rate + 1.20%, 09/21/2036  | 250000 | 211908 |
| Fifth Third Bancorp, 5.63% to 01/29/2031 then SOFR + 1.84%, 01/29/2032  | 200000 | 208195 |
| JPMorgan Chase & Co., 6.25% to 10/23/2033 then SOFR + 1.81%, 10/23/2034  | 300000 | 326172 |
| PNC Financial Services Group, Inc., 5.68% to 01/22/2034 then SOFR + 1.90%, 01/22/2035  | 300000 | 311814 |
| Wells Fargo & Co., 5.56% to 07/25/2033 then SOFR + 1.99%, 07/25/2034  | 300000 | 309721 |
|  |  | 1367810 |
| **Diversified Capital Markets - 0.2%** |  |  |
| UBS Group AG, 5.70% to 02/08/2034 then 1 yr. CMT Rate + 1.77%, 02/08/2035 <sup>(b)</sup> | 200000 | 207819 |
| **Finance Companies - 0.3%** |  |  |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.30%, 01/30/2032  | 150000 | 135982 |
| Avolon Holdings Funding Ltd., 5.75%, 11/15/2029 <sup>(b)</sup> | 100000 | 102996 |
| Macquarie Airfinance Holdings Ltd., 6.50%, 03/26/2031 <sup>(b)</sup> | 100000 | 105909 |
|  |  | 344887 |
| **Finance-Leasing Companies - 0.1%** |  |  |
| GGAM Finance Ltd., 6.88%, 04/15/2029 <sup>(b)</sup> | 100000 | 103633 |
| **Financial Exchanges & Data - 0.1%** |  |  |
| MSCI, Inc., 3.25%, 08/15/2033 <sup>(b)</sup> | 100000 | 87701 |
| **Investment Banking & Brokerage - 0.5%** |  |  |
| Goldman Sachs Group, Inc., 3.10% to 02/24/2032 then SOFR + 1.41%, 02/24/2033  | 200000 | 180062 |
| LPL Holdings, Inc., 4.00%, 03/15/2029 <sup>(b)</sup> | 200000 | 194336 |
| Morgan Stanley, 5.95% to 01/19/2033 then 5 yr. CMT Rate + 2.43%, 01/19/2038  | 300000 | 308735 |
|  |  | 683133 |
| **Life & Health Insurance - 0.1%** |  |  |
| MetLife, Inc., 6.50%, 12/15/2032  | 100000 | 112317 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Regional Banks - 0.1%** | | |
| M&T Bank Corp., 5.05% to 01/27/2033 then SOFR + 1.85%, 01/27/2034  | $200000 | $197493 |
| **Trading Companies & Distributors - 0.1%** |  |  |
| Aircastle Ltd. / Aircastle Ireland DAC, 5.25%, 03/15/2030 <sup>(b)</sup> | 150000 | 151328 |
| **Transaction & Payment Processing Services - 0.2%** |  |  |
| Fiserv, Inc., 5.63%, 08/21/2033  | 100000 | 104024 |
| Global Payments, Inc., 5.40%, 08/15/2032  | 150000 | 153196 |
|  |  | 257220 |
| **Total Financials** |  | 4388746 |
| **<u>Health Care</u> - 0.7%** |  |  |
| **Biotechnology - 0.1%** |  |  |
| Amgen, Inc., 5.25%, 03/02/2033  | 100000 | 102437 |
| **Health Care Equipment - 0.3%** |  |  |
| Baxter International, Inc., 2.54%, 02/01/2032  | 100000 | 87197 |
| GE HealthCare Technologies, Inc., 5.91%, 11/22/2032  | 150000 | 159524 |
| Zimmer Biomet Holdings, Inc., 2.60%, 11/24/2031  | 200000 | 176847 |
|  |  | 423568 |
| **Health Care Providers & Services - 0.1%** |  |  |
| HCA, Inc., 5.45%, 09/15/2034  | 100000 | 100909 |
| **Life Sciences Tools & Services - 0.1%** |  |  |
| Agilent Technologies, Inc., 4.75%, 09/09/2034  | 100000 | 98458 |
| Bio-Rad Laboratories, Inc., 3.70%, 03/15/2032  | 100000 | 92002 |
|  |  | 190460 |
| **Pharmaceuticals - 0.1%** |  |  |
| Royalty Pharma PLC, 3.30%, 09/02/2040  | 100000 | 75359 |
| **Total Health Care** |  | 892733 |
| **<u>Industrials</u> - 0.9%** |  |  |
| **Aerospace & Defense - 0.1%** |  |  |
| Northrop Grumman Corp., 5.20%, 06/01/2054  | 100000 | 93273 |
| RTX Corp., 6.10%, 03/15/2034  | 100000 | 108158 |
|  |  | 201431 |
| **Air Freight & Logistics - 0.1%** |  |  |
| United Parcel Service, Inc., 5.50%, 05/22/2054  | 100000 | 97060 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Building Products - 0.0%**<sup>(e)</sup> | | |
| Carrier Global Corp., 3.38%, 04/05/2040  | $100000 | $79424 |
| **Commercial Services - 0.1%** |  |  |
| Ashtead Capital, Inc., 5.95%, 10/15/2033 <sup>(b)</sup> | 200000 | 207276 |
| **Construction & Engineering - 0.1%** |  |  |
| MasTec, Inc., 4.50%, 08/15/2028 <sup>(b)</sup> | 100000 | 98696 |
| **Construction Machinery - 0.1%** |  |  |
| United Rentals North America, Inc., 6.00%, 12/15/2029 <sup>(b)</sup> | 100000 | 102494 |
| **Environmental & Facilities Services - 0.1%** |  |  |
| Waste Management, Inc., 4.88%, 02/15/2034  | 100000 | 101421 |
| **Ground Transportation - 0.1%** |  |  |
| Burlington Northern Santa Fe LLC, 4.13%, 06/15/2047  | 100000 | 82219 |
| **Rail Transportation - 0.1%** |  |  |
| CSX Corp., 6.15%, 05/01/2037  | 100000 | 108627 |
| **Trading Companies & Distributors - 0.1%** |  |  |
| GATX Corp., 5.50%, 06/15/2035  | 100000 | 101333 |
| **Total Industrials** |  | 1179981 |
| **<u>Information Technology</u> - 0.6%** |  |  |
| **Application Software - 0.0%**<sup>(e)</sup> |  |  |
| Roper Technologies, Inc., 1.75%, 02/15/2031  | 100000 | 85897 |
| **Electronic Components - 0.1%** |  |  |
| Amphenol Corp., 5.25%, 04/05/2034  | 100000 | 102965 |
| **Systems Software - 0.2%** |  |  |
| Oracle Corp., 3.90%, 05/15/2035  | 150000 | 135397 |
| VMware LLC, 2.20%, 08/15/2031  | 100000 | 86830 |
|  |  | 222227 |
| **Technology - 0.1%** |  |  |
| IBM International Capital Pte Ltd., 4.90%, 02/05/2034  | 100000 | 99857 |
| **Technology Distributors - 0.1%** |  |  |
| Arrow Electronics, Inc., 5.88%, 04/10/2034  | 100000 | 103332 |
| CDW LLC / CDW Finance Corp., 5.55%, 08/22/2034  | 100000 | 99849 |
|  |  | 203181 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE BONDS - 10.0% (CONTINUED)** | **Par** | **Value**  |
| **Wireless - 0.1%** | | |
| Dell International LLC / EMC Corp., 5.75%, 02/01/2033  | $100000 | $105110 |
| **Total Information Technology** |  | 819237 |
| **<u>Materials</u> - 0.6%** |  |  |
| **Construction Materials - 0.2%** |  |  |
| CRH America Finance, Inc., 5.40%, 05/21/2034  | 200000 | 205177 |
| **Copper - 0.1%** |  |  |
| Freeport-McMoRan, Inc., 5.40%, 11/14/2034  | 100000 | 101626 |
| **Fertilizers & Agricultural Chemicals - 0.1%** |  |  |
| Mosaic Co., 5.63%, 11/15/2043  | 100000 | 95667 |
| Nutrien Ltd., 2.95%, 05/13/2030  | 100000 | 93142 |
|  |  | 188809 |
| **Mining - 0.1%** |  |  |
| Barrick International Barbados Corp., 6.35%, 10/15/2036 <sup>(b)</sup> | 100000 | 107554 |
| **Steel - 0.1%** |  |  |
| Nucor Corp., 5.10%, 06/01/2035  | 100000 | 100359 |
| **Total Materials** |  | 703525 |
| **<u>Real Estate</u> - 0.2%** |  |  |
| **Telecom Tower REITs - 0.2%** |  |  |
| American Tower Corp., 5.55%, 07/15/2033  | 150000 | 154800 |
| Crown Castle, Inc., 5.10%, 05/01/2033  | 100000 | 99646 |
| **Total Real Estate** |  | 254446 |
| **<u>Utilities</u> - 0.1%** |  |  |
| **Utilities - 0.1%** |  |  |
| Vistra Operations Co. LLC, 6.00%, 04/15/2034 <sup>(b)</sup> | 100000 | 103933 |
| **TOTAL CORPORATE BONDS** (Cost $12,588,234) |  | 12923771 |
| **COLLATERALIZED LOAN OBLIGATIONS - 7.0%** |  |  |
| Anchorage Credit Funding Ltd., Series 2019-8A, Class BR, 3.01%, 07/25/2037 <sup>(b)</sup> | 400000 | 373815 |
| ARES CLO |  |  |
| &nbsp;&nbsp;Series 2020-57A, Class BR, 6.19% (3 mo. Term SOFR + 1.91%), 01/25/2035 <sup>(b)</sup> | 1050000 | 1052925 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COLLATERALIZED LOAN OBLIGATIONS - 7.0% (CONTINUED)** | **Par** | **Value**  |
| Series 2023-68A, Class E, 12.83% (3 mo. Term SOFR + 8.55%), 04/25/2035 <sup>(b)</sup> | $500000 | $501606 |
| Ballyrock CLO Ltd., Series 2019-1A, Class A2R, 6.07% (3 mo. Term SOFR + 1.81%), 07/15/2032 <sup>(b)</sup> | 1200000 | 1201781 |
| Carlyle Global Market Strategies, Series C17A, Class CR, 7.34% (3 mo. Term SOFR + 3.06%), 04/30/2031 <sup>(b)</sup> | 1000000 | 1003592 |
| Dryden Senior Loan Fund, Series 2018-64A, Class D, 7.18% (3 mo. Term SOFR + 2.91%), 04/18/2031 <sup>(b)</sup> | 500000 | 501849 |
| Golub Capital Partners CLO Ltd., Series 2023-69A, Class C, 8.30% (3 mo. Term SOFR + 4.00%), 11/09/2036 <sup>(b)</sup> | 1000000 | 1003177 |
| Jamestown CLO Ltd., Series 2018-11A, Class A2, 6.20% (3 mo. Term SOFR + 1.96%), 07/14/2031 <sup>(b)</sup> | 1030000 | 1033492 |
| Ocean Trails CLO, Series 2023-14A, Class D1R, 7.37% (3 mo. Term SOFR + 3.10%), 01/20/2038 <sup>(b)</sup> | 580000 | 580747 |
| Octagon Investment Partners Ltd., Series 2018-1A, Class C, 6.22% (3 mo. Term SOFR + 1.96%), 04/15/2031 <sup>(b)</sup> | 500000 | 501532 |
| Verdelite Static CLO Ltd., Series 2024-1A, Class D, 7.12% (3 mo. Term SOFR + 2.85%), 07/20/2032 <sup>(b)</sup> | 500000 | 500801 |
| Voya CLO Ltd., Series 2016-1A, Class BR, 6.33% (3 mo. Term SOFR + 2.06%), 01/20/2031 <sup>(b)</sup> | 750000 | 753044 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $8,974,217) | **TOTAL COLLATERALIZED LOAN OBLIGATIONS** (Cost $8,974,217) | 9008361 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS - 4.5%** |  |  |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2023-HQA2, Class M1B, 7.66% (30 day avg SOFR US + 3.35%), 06/25/2043 <sup>(b)</sup> | 500000 | 521436 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-MM1, Class A2, 2.50%, 04/25/2052 <sup>(b)(c)</sup> | 1624748 | 1324005 |
| &nbsp;&nbsp;&nbsp;Series 2023-PJ4, Class A15, 6.00%, 01/25/2054 <sup>(b)(c)</sup> | 326060 | 329603 |
| JP Morgan Mortgage Trust, Series 2021-1, Class A3, 2.50%, 06/25/2051 <sup>(b)(c)</sup> | 442656 | 360950 |
| Onslow Bay Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2021-J2, Class A1, 2.50%, 07/25/2051 <sup>(b)(c)</sup> | 1153065 | 932522 |
| &nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A3, 1.56%, 05/25/2061 <sup>(b)(c)</sup> | 568933 | 473088 |
| RCKT Mortgage Trust, Series 2022-4, Class A2, 3.50%, 06/25/2052 <sup>(b)(c)</sup> | 801296 | 702356 |
| SGR Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2020-2, Class A1, 1.38%, 05/25/2065 <sup>(b)(c)</sup> | 346657 | 319025 |
| &nbsp;&nbsp;&nbsp;Series 2021-1, Class M1, 2.50%, 07/25/2061 <sup>(b)(c)</sup> | 744000 | 485752 |
| Western Alliance Bancorp, Series 2021-CL2, Class M3, 8.41% (30 day avg SOFR US + 4.10%), 07/25/2059 <sup>(b)</sup> | 436188 | 438568 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $5,854,629) | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** (Cost $5,854,629) | 5887305 |
| **CONVERTIBLE BONDS - 1.4%** |  |  |
| **<u>Information Technology</u> - 1.4%** |  |  |
| **Application Software - 1.4%** |  |  |
| MicroStrategy, Inc., 0.00%, 03/01/2030 <sup>(b)(f)</sup> | 1500000 | 1764550 |
| **TOTAL CONVERTIBLE BONDS** (Cost $1,463,944) |  | 1764550 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENTS - 2.2%** | **Shares** | **Value** |
| **Money Market Funds - 2.2%** | |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(g)</sup> | 2784744 | $2784744 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $2,784,744) |  | 2784744 |
| **TOTAL INVESTMENTS - 98.9% (**Cost $126,694,122**)** |  | $127968540 |
| Other Assets in Excess of Liabilities - 1.1%  |  | 1430427 |
| **TOTAL NET ASSETS - 100.0%** |  | $129398967 |

---

Percentages are stated as a percent of net assets.

---

| |
|:---|
| CMT - Constant Maturity Treasury |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |
| SOFR - Secured Overnight Financing Rate |

---

(a) 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.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $38,989,462 or 30.1% of the Fund's net assets.

(c) Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of June 30, 2025.

(d) Step coupon bond. The rate disclosed is as of June 30, 2025.

(e) Represents less than 0.05% of net assets.

(f) Zero coupon bonds make no periodic interest payments.

(g) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

---

| |
|:---|
| **STRIVE TOTAL RETURN BOND ETF** |
| **SCHEDULE OF FUTURES CONTRACTS** |
| **June 30, 2025** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Contracts Purchased** | **Expiration Date** | **Notional** | **Value / Unrealized Appreciation (Depreciation)** |
| U.S. Treasury 10 Year Notes | 189 | 09/19/2025 | $21191625 | $460026 |
| U.S. Treasury 5 Year Notes | 2 | 09/30/2025 | 218000 | 1774 |
| U.S. Treasury Long Bonds | 19 | 09/19/2025 | 2193906 | 95824 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | $557624 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE U.S. ENERGY ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0%** | **Shares** | **Value**  |
| **<u>Consumer Discretionary</u> - 0.8%** | |  |
| **Automotive Retail - 0.8%** |  |  |
| Murphy USA, Inc.  | 4982 | $2026678 |
| **<u>Energy</u> - 99.1%**<sup>(a)</sup> |  |  |
| **Integrated Oil & Gas - 46.0%** |  |  |
| Chevron Corp.  | 375678 | 53793333 |
| Exxon Mobil Corp.  | 547214 | 58989669 |
| Occidental Petroleum Corp.  | 184401 | 7746686 |
|  |  | 120529688 |
| **Oil & Gas Exploration & Production - 38.6%** |  |  |
| Antero Resources Corp. <sup>(b)</sup> | 79951 | 3220426 |
| APA Corp.  | 98805 | 1807143 |
| California Resources Corp.  | 22038 | 1006475 |
| Chord Energy Corp.  | 16086 | 1557929 |
| Civitas Resources, Inc.  | 25742 | 708420 |
| CNX Resources Corp. <sup>(b)</sup> | 37654 | 1268187 |
| Comstock Resources, Inc. <sup>(b)</sup> | 20929 | 579105 |
| ConocoPhillips  | 130184 | 11682712 |
| Coterra Energy, Inc.  | 204065 | 5179170 |
| Crescent Energy Co. - Class A  | 60893 | 523680 |
| Devon Energy Corp.  | 175427 | 5580333 |
| Diamondback Energy, Inc.  | 52276 | 7182722 |
| EOG Resources, Inc.  | 101859 | 12183355 |
| EQT Corp.  | 163202 | 9517941 |
| Expand Energy Corp.  | 63552 | 7431771 |
| Gulfport Energy Corp. <sup>(b)</sup> | 4157 | 836264 |
| Hess Corp.  | 77615 | 10752782 |
| Magnolia Oil & Gas Corp. - Class A  | 50656 | 1138747 |
| Matador Resources Co.  | 31909 | 1522698 |
| Murphy Oil Corp.  | 36839 | 828878 |
| Northern Oil & Gas, Inc.  | 26540 | 752409 |
| Ovintiv, Inc.  | 70759 | 2692380 |
| Permian Resources Corp.  | 177549 | 2418217 |
| Range Resources Corp.  | 64302 | 2615162 |
| Sitio Royalties Corp. - Class A  | 20368 | 374364 |
| SM Energy Co.  | 30145 | 744883 |
| Texas Pacific Land Corp.  | 5219 | 5513299 |
| Viper Energy, Inc.  | 36194 | 1380077 |
|  |  | 100999529 |
| **Oil & Gas Refining & Marketing - 14.5%** |  |  |
| HF Sinclair Corp.  | 43888 | 1802919 |
| Marathon Petroleum Corp.  | 72404 | 12027029 |
| PBF Energy, Inc. - Class A  | 22414 | 485711 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE U.S. ENERGY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025**  |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0% (CONTINUED)** | **Shares** | **Value**  |
| **Oil & Gas Refining & Marketing - 14.5% (Continued)** | | |
| Phillips 66  | 101503 | $12109308 |
| Valero Energy Corp.  | 85571 | 11502454 |
|  |  | 37927421 |
| **Total Energy** |  | 259456638 |
| **<u>Real Estate</u> - 0.1%** |  |  |
| **Real Estate Operating Companies - 0.1%** |  |  |
| Landbridge Co. LLC - Class A  | 5923 | 400276 |
| **TOTAL COMMON STOCKS** (Cost $285,092,665) |  | 261883592 |
| **SHORT-TERM INVESTMENTS - 0.0%**<sup>(c)</sup> |  |  |
| **Money Market Funds - 0.0%**<sup>(c)</sup> |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(d)</sup> | 62277 | 62277 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $62,277) |  | 62277 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $285,154,942**)** |  | $261945869 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(c)</sup> |  | (29113) |
| **TOTAL NET ASSETS - 100.0%** |  | $261916756 |

---

Percentages are stated as a percent of net assets.

LLC - Limited Liability Company

(a) 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.

(b) Non-income producing security.

(c) Represents less than 0.05% of net assets.

(d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE U.S. SEMICONDUCTOR ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8%** | **Shares** | **Value**  |
| **<u>Information Technology</u> - 99.5%**<sup>(a)</sup> | |  |
| **Application Software - 5.5%** |  |  |
| Cadence Design Systems, Inc. <sup>(b)</sup> | 9473 | $2919105 |
| Synopsys, Inc. <sup>(b)</sup> | 5358 | 2746939 |
|  |  | 5666044 |
| **Electronic Equipment & Instruments - 1.0%** |  |  |
| Keysight Technologies, Inc. <sup>(b)</sup> | 5973 | 978736 |
| **Electronic Manufacturing Services - 1.7%** |  |  |
| TE Connectivity PLC  | 10329 | 1742192 |
| **Semiconductor Materials & Equipment - 18.4%** |  |  |
| Applied Materials, Inc.  | 24653 | 4513225 |
| ASML Holding NV  | 6087 | 4878061 |
| Entegris, Inc.  | 5301 | 427526 |
| KLA Corp.  | 4585 | 4106968 |
| Lam Research Corp.  | 44438 | 4325595 |
| MKS, Inc.  | 2345 | 232999 |
| Teradyne, Inc.  | 5530 | 497257 |
|  |  | 18981631 |
| **Semiconductors - 72.9%** |  |  |
| Advanced Micro Devices, Inc. <sup>(b)</sup> | 35698 | 5065546 |
| Analog Devices, Inc.  | 17195 | 4092754 |
| ARM Holdings PLC - ADR <sup>(b)</sup> | 4362 | 705510 |
| Astera Labs, Inc. <sup>(b)</sup> | 4511 | 407885 |
| Broadcom, Inc.  | 67535 | 18616023 |
| Intel Corp.  | 138341 | 3098838 |
| Lattice Semiconductor Corp. <sup>(b)</sup> | 4631 | 226873 |
| Marvell Technology, Inc.  | 29989 | 2321149 |
| Microchip Technology, Inc.  | 18347 | 1291078 |
| Micron Technology, Inc.  | 38873 | 4791097 |
| Monolithic Power Systems, Inc.  | 1609 | 1176790 |
| NVIDIA Corp.  | 151790 | 23981302 |
| ON Semiconductor Corp. <sup>(b)</sup> | 14452 | 757429 |
| Qualcomm, Inc.  | 18887 | 3007944 |
| Rambus, Inc. <sup>(b)</sup> | 3699 | 236810 |
| STMicroelectronics NV  | 22118 | 672608 |
| Texas Instruments, Inc.  | 21556 | 4475457 |
| Tower Semiconductor Ltd. <sup>(b)</sup> | 3734 | 161869 |
|  |  | 75086962 |
| **Total Information Technology** |  | 102455565 |

---

The accompanying notes are an integral part of these financial statements.

------

---

| |
|:---|
| **STRIVE U.S. SEMICONDUCTOR ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Materials</u> - 0.3%** | |  |
| **Specialty Chemicals - 0.3%** |  |  |
| DuPont de Nemours, Inc.  | 4208 | $288627 |
| **TOTAL COMMON STOCKS** (Cost $84,241,194) |  | 102744192 |
| **SHORT-TERM INVESTMENTS - 0.2%** |  |  |
| **Money Market Funds - 0.2%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(c)</sup> | 164348 | 164348 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $164,348) |  | 164348 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $84,405,542**)** |  | $102908540 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(d)</sup> |  | 45918 |
| **TOTAL NET ASSETS - 100.0%** |  | $102954458 |

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt <br> PLC - Public Limited Company

(a) 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.

(b) Non-income producing security.

(c) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

(d) Represents less than 0.05% of net assets.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

(b) Not applicable

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**<u>Item 7. Financial Statements and Financial Highlights for Open-End Management Investment</u>**

**<u>Companies.</u>**

**STATEMENTS OF ASSETS AND LIABILITIES**

**June 30, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Value ETF** | **Strive 500 ETF** | **Strive Emerging Markets Ex-China ETF** |
| **ASSETS:** | | | | | |
| Investments, at value (See Note 2) | $52076305 | $129623534 | $62194474 | $923199148 | $99944873 |
| Dividends receivable | 23686 | 33346 | 76146 | 443163 | 326328 |
| Cash | 138 | 82 | 60 | 9 |  |
| Dividend tax reclaims receivable | 74 | 152 | 1219 | 6057 | 6155 |
| Receivable for investments sold |  |  |  |  | 74895 |
| Security lending income receivable (See Note 4) |  | 347 | 429 | 4427 |  |
| Foreign currency, at value |  |  |  |  | 13721 |
| Total assets | 52100203 | 129657461 | 62272328 | 923652804 | 100365972 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable to adviser (See Note 3) | 14667 | 18499 | 9084 | 39884 | 25481 |
| Payable for investments purchased | 3627 | 9609 | 12510 | 107692 |  |
| Deferred foreign capital gains tax |  |  |  |  | 1039663 |
| Total liabilities | 18294 | 28108 | 21594 | 147576 | 1065144 |
| **NET ASSETS** | $52081909 | $129629353 | $62250734 | $923505228 | $99300828 |
| **NET ASSETS CONSISTS OF:** | **NET ASSETS CONSISTS OF:** |  |  |  |  |
| Paid-in capital | $43924777 | $98959960 | $58764015 | $720532517 | $85469820 |
| Total distributable earnings | 8157132 | 30669393 | 3486719 | 202972711 | 13831008 |
| Total net assets | $52081909 | $129629353 | $62250734 | $923505228 | $99300828 |
| Net assets | $52081909 | $129629353 | $62250734 | $923505228 | $99300828 |
| Shares issued and outstanding<sup>(a)</sup> | 1500000 | 2820000 | 2020000 | 23090000 | 3200000 |
| Net asset value per share | $34.72 | $45.97 | $30.82 | $40.00 | $31.03 |
| **COST:** |  |  |  |  |  |
| Investments, at cost | $42759732 | $98246361 | $58004579 | $716931295 | $79391139 |
| Foreign currency, at cost | $— | $— | $— | $— | $13672 |

---

(a) Unlimited shares authorized without par value.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)**

**June 30, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Strive Enhanced Income Short Maturity ETF** | **Strive International Developed Markets ETF** | **Strive Mid Cap ETF** | **Strive Natural Resources and Security ETF** | **Strive Small-Cap ETF** |
| **ASSETS:** | | | | | |
| Investments, at value (See Note 2) | $325737889 | $18557421 | $17141130 | $35627794 | $60639212 |
| Receivable for investments sold | 4308965 |  |  |  |  |
| Interest receivable | 1906195 |  |  |  |  |
| Deposit at broker for future contracts (See Note 2) | 40854 |  |  |  |  |
| Variation margin on futures contracts (See Note 2) | 11330 |  |  |  |  |
| Receivable for fund shares sold |  |  |  | 713046 |  |
| Dividends receivable | 55575 | 26628 | 15238 | 26442 | 69813 |
| Dividend tax reclaims receivable, net |  | 27238 |  | 1550 |  |
| Security lending income receivable (See Note 4) |  |  | 23 | 116 | 1050 |
| Cash |  |  | 215 |  |  |
| Total assets | 332060808 | 18611287 | 17156606 | 36368948 | 60710075 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for capital shares redeemed | 9754032 |  |  |  |  |
| Payable for investments purchased | 7058108 |  |  | 703403 |  |
| Payable to adviser (See Note 3) | 63301 | 4413 | 2489 | 13294 | 8837 |
| Total liabilities | 16875441 | 4413 | 2489 | 716697 | 8837 |
| **NET ASSETS** | $315185367 | $18606874 | $17154117 | $35652251 | $60701238 |
| **NET ASSETS CONSISTS OF:** |  |  |  |  |  |
| Paid-in capital | $314126052 | $16509014 | $16126528 | $31237958 | $61464897 |
| Total distributable earnings (accumulated losses) | 1059315 | 2097860 | 1027589 | 4414293 | (763659) |
| Total net assets | $315185367 | $18606874 | $17154117 | $35652251 | $60701238 |
| Net assets | $315185367 | $18606874 | $17154117 | $35652251 | $60701238 |
| Shares issued and outstanding<sup>(a)</sup> | 15510000 | 650000 | 650000 | 1000000 | 2000000 |
| Net asset value per share | $20.32 | $28.63 | $26.39 | $35.65 | $30.35 |
| **COST:** |  |  |  |  |  |
| Investments, at cost | $325076103 | $16240706 | $15899917 | $30646993 | $56352539 |

---

(a) Unlimited shares authorized without par value.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)**

**June 30, 2025**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive Total Return Bond ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Semiconductor ETF** |
| **ASSETS:** | | | |
| Investments, at value (See Note 2) | $127968540 | $261945869 | $102908540 |
| Dividends receivable | 9089 | 58682 | 15175 |
| Variation margin on futures contracts (See Note 2) | 557624 |  |  |
| Deposit at broker for future contracts (See Note 2) | 151153 |  |  |
| Receivable for fund shares sold |  |  | 8491088 |
| Interest receivable | 764476 |  |  |
| Dividend tax reclaims receivable, net |  | 3369 |  |
| Security lending income receivable (See Note 4) |  |  | 30 |
| Total assets | 129450882 | 262007920 | 111414833 |
| **LIABILITIES:** |  |  |  |
| Payable to adviser (See Note 3) | 51915 | 91164 | 28648 |
| Payable for investments purchased |  |  | 8431727 |
| Total liabilities | 51915 | 91164 | 8460375 |
| **NET ASSETS** | $129398967 | $261916756 | $102954458 |
| **NET ASSETS CONSISTS OF:** |  |  |  |
| Paid-in capital | $128617387 | $298202294 | $88844883 |
| Total distributable earnings (accumulated losses) | 781580 | (36285538) | 14109575 |
| Total net assets | $129398967 | $261916756 | $102954458 |
| Net assets | $129398967 | $261916756 | $102954458 |
| Shares issued and outstanding<sup>(a)</sup> | 6410000 | 9650000 | 1940000 |
| Net asset value per share | $20.19 | $27.14 | $53.07 |
| **COST:** |  |  |  |
| Investments, at cost | $126694122 | $285154942 | $84405542 |

---

(a) Unlimited shares authorized without par value.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** |
| **INVESTMENT INCOME:** | | | | |
| Dividend income | $720083 | $610036 | $760219 | $423704 |
| Interest Income |  | 5691 |  | 13228 |
| Less: Issuance fees | (9) |  | (16) |  |
| Less: Dividend withholding taxes | (343) | (101) | (351) | (279) |
| Securities lending income (See Note 4) | 586 | 1010 | 1180 | 817 |
| Total investment income | 720317 | 616636 | 761032 | 437470 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee (See Note 3) | 154620 | 116836 | 175009 | 94514 |
| Total expenses | 154620 | 116836 | 175009 | 94514 |
| **NET INVESTMENT INCOME (LOSS)** | 565697 | 499800 | 586023 | 342956 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | (660442) | 134921 | (570215) | 102826 |
| In-kind redemptions | 1558397 |  | 259213 |  |
| Foreign currency translation |  |  |  |  |
| Net realized gain (loss) | 897955 | 134921 | (311002) | 102826 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments | 2676363 | 5164282 | 16049450 | 12170244 |
| Net change in unrealized appreciation (depreciation) | 2676363 | 5164282 | 16049450 | 12170244 |
| Net realized and unrealized gain (loss) | 3574318 | 5299203 | 15738448 | 12273070 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $4140015 | $5799003 | $16324471 | $12616026 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 500 ETF** | **Strive 500 ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** |
| **INVESTMENT INCOME:** | | | | |
| Dividend income | $1575625 | $864912 | $9197140 | $5798502 |
| Less: Issuance fees | (33) |  | (174) |  |
| Less: Dividend withholding taxes | (1116) | (1515) | (5933) | (6674) |
| Interest Income |  | 6381 |  | 82471 |
| Securities lending income <br>(See Note 4) | 1153 | 1031 | 8150 | 5203 |
| Total investment income | 1575629 | 870809 | 9199183 | 5879502 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee <br>(See Note 3) | 101016 | 55133 | 375308 | 222292 |
| Total expenses | 101016 | 55133 | 375308 | 222292 |
| **NET INVESTMENT INCOME (LOSS)** | 1474613 | 815676 | 8823875 | 5657210 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | (564893) | 569429 | (2459635) | 4645378 |
| Foreign capital gains tax |  |  |  |  |
| In-kind redemptions | 3702863 |  | 4105001 |  |
| Foreign currency translation |  |  |  |  |
| Net realized gain (loss) | 3137970 | 569429 | 1645366 | 4645378 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments | (927463) | 4181033 | 93471415 | 82705354 |
| Net change in unrealized appreciation (depreciation) | (927463) | 4181033 | 93471415 | 82705354 |
| Net realized and unrealized gain (loss) | 2210507 | 4750462 | 95116781 | 87350732 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $3685120 | $5566138 | $103940656 | $93007942 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive Emerging Markets** <br>**Ex-China ETF**  | **Strive Emerging Markets** <br>**Ex-China ETF**  | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024**<sup>(b)</sup> |
| **INVESTMENT INCOME:** | | | | |
| Dividend income | $2610726 | $3527783 | $454581 | $4359064 |
| Less: Dividend withholding taxes | (336628) | (388660) |  |  |
| Interest income |  | 51482 | 9608134 |  |
| Securities lending income (See Note 4) |  |  |  |  |
| Total investment income | 2274098 | 3190605 | 10062715 | 4359064 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee (See Note 3) | 284644 | 305035 | 454013 | 175960 |
| Overdraft fees expense |  | 2036 |  |  |
| Total expenses | 284644 | 307071 | 454013 | 175960 |
| **NET INVESTMENT INCOME (LOSS)** | 1989454 | 2883534 | 9608702 | 4183104 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | (1448786) | (2568739) | 151498 | 88234 |
| In-kind redemptions | 73668 |  |  |  |
| Foreign capital gains tax | (74639) | (539965) |  |  |
| Futures contracts (See Note 2) |  |  | (582) | (36947) |
| Foreign currency translation | (45953) | (26344) |  |  |
| Net realized gain (loss) | (1495710) | (3135048) | 150916 | 51287 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments | 5909137 | 4595876 | 247565 | 414221 |
| Deferred foreign capital gains tax | 244058 | 1239507 |  |  |
| Future contracts (See Note 2) |  |  | (6135) | 17465 |
| Foreign currency translation | (9544) | (2293162) |  |  |
| Net change in unrealized appreciation (depreciation) | 6143651 | 3542221 | 241430 | 431686 |
| Net realized and unrealized gain (loss) | 4647941 | 407173 | 392346 | 482973 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $6637395 | 3290707 | $10001048 | $4666077 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 9, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Period Ended** <br>**July 31, 2024**<sup>(b)</sup> | **Period Ended June 30, 2025**<sup>(a)</sup> | **Period Ended** <br>**July 31, 2024**<sup>(c)</sup> |
| **INVESTMENT INCOME:** | | | | |
| Dividend income | $489385 | $7763 | $199373 | $34347 |
| Less: Dividend withholding taxes | (57342) | (1079) | (255) | (17) |
| Less: Issuance fees | (4) |  | (8) |  |
| Interest income |  | 123 |  | 485 |
| Securities lending income <br>(See Note 4) |  |  | 61 |  |
| Total investment income | 432039 | 6807 | 199171 | 34815 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee <br>(See Note 3) | 41440 | 1863 | 24124 | 4421 |
| Total expenses | 41440 | 1863 | 24124 | 4421 |
| **NET INVESTMENT INCOME (LOSS)** | 390599 | 4944 | 175047 | 30394 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | (219245) | (56) | (199987) | (11259) |
| In-kind redemptions |  |  | 142254 |  |
| Foreign currency translation | (3951) |  |  |  |
| Net realized gain (loss) | (223196) | (56) | (57733) | (11259) |
| Net change in unrealized appreciation (depreciation) on: | Net change in unrealized appreciation (depreciation) on: |  |  |  |
| Investments | 2341502 | (24787) | 718696 | 522518 |
| Foreign currency translation | (143266) | 145060 |  |  |
| Net change in unrealized appreciation (depreciation) | 2198236 | 120273 | 718696 | 522518 |
| Net realized and unrealized gain (loss) | 1975040 | 120217 | 660963 | 511259 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $2365639 | $125161 | $836010 | $541653 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on June 25, 2024.

(c) The Fund commenced operations on April 10, 2024.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive Natural Resources and** <br>**Security ETF** | **Strive Natural Resources and** <br>**Security ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Period Ended** <br>**July 31, 2024**<sup>(b)</sup> | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** |
| **INVESTMENT INCOME:** | | | | |
| Dividend income | 468600 | 125260 | 820977 | 550047 |
| Less: Dividend withholding taxes | (15863) | (4109) | (505) | (731) |
| Less: Issuance fees |  |  | (5) |  |
| Interest income |  | 1286 |  | 7683 |
| Securities lending income <br>(See Note 4) | 517 | 655 | 6556 | 16981 |
| Total investment income | 453254 | 123092 | 827023 | 573980 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee <br>(See Note 3) | 117333 | 35619 | 93798 | 66975 |
| Total expenses | 117333 | 35619 | 93798 | 66975 |
| **NET INVESTMENT INCOME (LOSS)** | 335921 | 87473 | 733225 | 507005 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | (487112) | 349227 | (4025768) | 1497696 |
| In-kind redemptions | 1237476 |  | 4154327 |  |
| Foreign currency translation | (2555) | (310) |  |  |
| Net realized gain (loss) | 747809 | 348917 | 128559 | 1497696 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments | 4091515 | 889286 | (2322836) | 4721382 |
| Foreign currency translation | 53721 | (53712) |  |  |
| Net change in unrealized appreciation (depreciation) | 4145236 | 835574 | (2322836) | 4721382 |
| Net realized and unrealized gain (loss) | 4893045 | 1184491 | (2194277) | 6219078 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $5228966 | $1271964 | $(1461052) | $6726083 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 30, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** |
| | **Period Ended June 30, 2025**<sup>(a)</sup> | **Period Ended** <br>**July 31, 2024**<sup>(b)</sup> | **Period Ended June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** |
| **INVESTMENT INCOME:** | | | | |
| Interest income | $6123705 | $4040562 | $— | $47672 |
| Dividend income | 114869 |  | 9632554 | 10869782 |
| Less: Dividend withholding taxes |  |  |  | (6158) |
| Securities lending income (See Note 4) |  |  | 1064 | 1270 |
| Total investment income | 6238574 | 4040562 | 9633618 | 10912566 |
| **EXPENSES:** |  |  |  |  |
| Investment advisory fee (See Note 3) | 552225 | 339288 | 1133771 | 1419497 |
| Total expenses | 552225 | 339288 | 1133771 | 1419497 |
| **NET INVESTMENT INCOME (LOSS)** | 5686349 | 3701274 | 8499847 | 9493069 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments | 309249 | 162495 | (5071447) | 15050085 |
| In-kind redemptions |  |  | 7974551 |  |
| Futures contracts (See Note 2) | (539649) | (1056964) |  |  |
| Net realized gain (loss) | (230400) | (894469) | 2903104 | 15050085 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments | (288998) | 1563416 | (39729553) | (4310160) |
| Future contracts (See Note 2) | (220164) | 777789 |  |  |
| Net change in unrealized appreciation (depreciation) | (509162) | 2341205 | (39729553) | (4310160) |
| Net realized and unrealized gain (loss) | (739562) | 1446736 | (36826449) | 10739925 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $4946787 | $5148010 | $(28326602) | $20232994 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 9, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF OPERATIONS (CONTINUED)**

**For the Period Ended June 30, 2025**

---

| | | |
|:---|:---|:---|
| | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** |
| | **Period Ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year Ended** <br>**July 31, 2024** |
| **INVESTMENT INCOME:** | | |
| Interest income | $— | $9982 |
| Dividend income | 567967 | 474292 |
| Less: Dividend withholding taxes | (8354) | (4733) |
| Less: Issuance fees | (147) |  |
| Securities lending income (See Note 4) | 155 | 990 |
| Total investment income | 559621 | 480531 |
| **EXPENSES:** |  |  |
| Investment advisory fee (See Note 3) | 286595 | 211458 |
| Total expenses | 286595 | 211458 |
| **NET INVESTMENT INCOME (LOSS)** | 273026 | 269073 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments | (3181377) | 13999964 |
| In-kind redemptions | 1930219 |  |
| Net realized gain (loss) | (1251158) | 13999964 |
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments | 11085082 | (1271109) |
| Net change in unrealized appreciation (depreciation) | 11085082 | (1271109) |
| Net realized and unrealized gain (loss) | 9833924 | 12728855 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $10106950 | $12997928 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | | |
|:---|:---|:---|:---|
| | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| Net investment income (loss) | $565697 | $499800 | $105293 |
| Net realized gain (loss) | 897955 | 134921 | 30599 |
| Net change in unrealized appreciation (depreciation) | 2676363 | 5164282 | 1475928 |
| Net increase (decrease) in net assets from operations | 4140015 | 5799003 | 1611820 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| From earnings | (602333) | (485575) | (84274) |
| Total distributions to shareholders | (602333) | (485575) | (84274) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| Shares sold | 9911624 | 17841150 | 22209595 |
| Shares redeemed | (4567154) | (2370182) | (1321780) |
| Net increase (decrease) in net assets from capital transactions | 5344470 | 15470968 | 20887815 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 8882152 | 20784396 | 22415361 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 43199757 | 22415361 |  |
| End of the period | $52081909 | $43199757 | $22415361 |
| **SHARES TRANSACTIONS** |  |  |  |
| Shares sold | 300000 | 620000 | 850000 |
| Shares redeemed | (140000) | (80000) | (50000) |
| Total increase (decrease) in shares outstanding | 160000 | 540000 | 800000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on November 9, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| Net investment income (loss) | $586023 | $342956 | $54117 |
| Net realized gain (loss) | (311002) | 102826 | 28675 |
| Net change in unrealized appreciation (depreciation) | 16049450 | 12170244 | 3157479 |
| Net increase (decrease) in net assets from operations | 16324471 | 12616026 | 3240271 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| From earnings | (621083) | (350997) | (43091) |
| Total distributions to shareholders | (621083) | (350997) | (43091) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| Shares sold | 27794907 | 46415893 | 27123990 |
| Shares redeemed | (821471) | (706110) | (1343455) |
| ETF transaction fees (See Note 1) |  | 1 | 1 |
| Net increase (decrease) in net assets from capital transactions | 26973436 | 45709784 | 25780536 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 42676824 | 57974813 | 28977716 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 86952529 | 28977716 |  |
| End of the period | $129629353 | $86952529 | $28977716 |
| **SHARES TRANSACTIONS** |  |  |  |
| Shares sold | 650000 | 1310000 | 950000 |
| Shares redeemed | (20000) | (20000) | (50000) |
| Total increase (decrease) in shares outstanding | 630000 | 1290000 | 900000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on November 9, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| Net investment income (loss) | $1474613 | $815676 | $133064 |
| Net realized gain (loss) | 3137970 | 569429 | 1603 |
| Net change in unrealized appreciation (depreciation) | (927463) | 4181033 | 936325 |
| Net increase (decrease) in net assets from operations | 3685120 | 5566138 | 1070992 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| From earnings | (1560714) | (750769) | (102472) |
| Total distributions to shareholders | (1560714) | (750769) | (102472) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| Shares sold | 21070148 | 36289885 | 17387200 |
| Shares redeemed | (15622754) | (3526850) | (1255190) |
| Net increase (decrease) in net assets from capital transactions | 5447394 | 32763035 | 16132010 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 7571800 | 37578404 | 17100530 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 54678934 | 17100530 |  |
| End of the period | $62250734 | $54678934 | $17100530 |
| **SHARES TRANSACTIONS** |  |  |  |
| Shares sold | 690000 | 1330000 | 700000 |
| Shares redeemed | (520000) | (130000) | (50000) |
| Total increase (decrease) in shares outstanding | 170000 | 1200000 | 650000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on November 9, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| Net investment income (loss) | $8823875 | $5657210 | $1648426 |
| Net realized gain (loss) | 1645366 | 4645378 | 729927 |
| Net change in unrealized appreciation (depreciation) | 93471415 | 82705354 | 30091084 |
| Net increase (decrease) in net assets from operations | 103940656 | 93007942 | 32469437 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| From earnings | (9265451) | (5358321) | (1419614) |
| Total distributions to shareholders | (9265451) | (5358321) | (1419614) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| Shares sold | 238341972 | 281414552 | 229618180 |
| Shares redeemed | (10719940) | (19724717) | (8799490) |
| ETF transaction fees (See Note 1) | 13 | 9 |  |
| Net increase (decrease) in net assets from capital transactions | 227622045 | 261689844 | 220818690 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 322297250 | 349339465 | 251868513 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 601207978 | 251868513 |  |
| End of the period | $923505228 | $601207978 | $251868513 |
| **SHARES TRANSACTIONS** |  |  |  |
| Shares sold | 6370000 | 9060000 | 8950000 |
| Shares redeemed | (290000) | (650000) | (350000) |
| Total increase (decrease) in shares outstanding | 6080000 | 8410000 | 8600000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on September 14, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| Net investment income (loss) | $1989454 | $2883534 | $1362334 |
| Net realized gain (loss) | (1495710) | (3135048) | (1324066) |
| Net change in unrealized appreciation (depreciation) | 6143651 | 3542221 | 9799698 |
| Net increase (decrease) in net assets from operations | 6637395 | 3290707 | 9837966 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| From earnings | (3932685) | (1599535) | (462914) |
| Total distributions to shareholders | (3932685) | (1599535) | (462914) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| Shares sold | 4469560 | 31796470 | 143615130 |
| Shares redeemed | (8277105) | (87293030) |  |
| ETF transaction fees (See Note 1) | 57996 | 424052 | 736821 |
| Net increase (decrease) in net assets from capital transactions | (3749549) | (55072508) | 144351951 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | (1044839) | (53381336) | 153727003 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 100345667 | 153727003 |  |
| End of the period | $99300828 | $100345667 | $153727003 |
| **SHARES TRANSACTIONS** |  |  |  |
| Shares sold | 150000 | 1150000 | 5700000 |
| Shares redeemed | (300000) | (3500000) |  |
| Total increase (decrease) in shares outstanding | (150000) | (2350000) | 5700000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on January 30, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | |
|:---|:---|:---|
| | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Period ended** <br>**July 31, 2024**<sup>(b)</sup> |
| **OPERATIONS:** | | |
| Net investment income (loss) | $9608702 | $4183104 |
| Net realized gain (loss) | 150916 | 51287 |
| Net change in unrealized appreciation (depreciation) | 241430 | 431686 |
| Net increase (decrease) in net assets from operations | 10001048 | 4666077 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| From earnings | (9514662) | (4093148) |
| Total distributions to shareholders | (9514662) | (4093148) |
| **CAPITAL TRANSACTIONS:** |  |  |
| Shares sold | 225092385 | 119308162 |
| Shares redeemed | (26021470) | (4253025) |
| ETF transaction fees (See Note 1) |  |  |
| Net increase (decrease) in net assets from capital transactions | 199070915 | 115055137 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 199557301 | 115628066 |
| **NET ASSETS:** |  |  |
| Beginning of the period | 115628066 |  |
| End of the period | $315185367 | $115628066 |
| **SHARES TRANSACTIONS** |  |  |
| Shares sold | 11080000 | 5920000 |
| Shares redeemed | (1280000) | (210000) |
| Total increase (decrease) in shares outstanding | 9800000 | 5710000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 9, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** |
| | **Period ended June 30, 2025**<sup>(a)</sup> | **Period ended July 31, 2024**<sup>(b)</sup> | **Period ended June 30, 2025**<sup>(a)</sup> | **Period ended July 31, 2024**<sup>(c)</sup> |
| **OPERATIONS:** | | | | |
| Net investment income (loss) | $390599 | $4944 | $175047 | $30394 |
| Net realized gain (loss) | (223196) | (56) | (57733) | (11259) |
| Net change in unrealized appreciation (depreciation) | 2198236 | 120273 | 718696 | 522518 |
| Net increase (decrease) in net assets from operations | 2365639 | 125161 | 836010 | 541653 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |  |
| From earnings | (392940) |  | (187000) | (21665) |
| Total distributions to shareholders | (392940) |  | (187000) | (21665) |
| **CAPITAL TRANSACTIONS:** |  |  |  |  |
| Shares sold | 6364635 | 10144250 | 5548112 | 11867833 |
| Shares redeemed |  |  | (1430826) |  |
| ETF transaction fees (See Note 1) | 59 | 70 |  |  |
| Net increase (decrease) in net assets from capital transactions | 6364694 | 10144320 | 4117286 | 11867833 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 8337393 | 10269481 | 4766296 | 12387821 |
| **NET ASSETS:** |  |  |  |  |
| Beginning of the period | 10269481 |  | 12387821 |  |
| End of the period | $18606874 | $10269481 | $17154117 | $12387821 |
| **SHARES TRANSACTIONS** |  |  |  |  |
| Shares sold | 250000 | 400000 | 220000 | 490000 |
| Shares redeemed |  |  | (60000) |  |
| Total increase (decrease) in shares outstanding | 250000 | 400000 | 160000 | 490000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on June 25, 2024.

(c) The Fund commenced operations on April 10, 2024.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | |
|:---|:---|:---|
| | **Strive Natural Resources and** <br>**Security ETF** | **Strive Natural Resources and** <br>**Security ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Period ended** <br>**July 31, 2024**<sup>(b)</sup> |
| **OPERATIONS:** | | |
| &nbsp;&nbsp;Net investment income (loss) | $335921 | $87473 |
| &nbsp;&nbsp;Net realized gain (loss) | 747809 | 348917 |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 4145236 | 835574 |
| Net increase (decrease) in net assets from operations | 5228966 | 1271964 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| &nbsp;&nbsp;From earnings | (332147) | (76248) |
| Total distributions to shareholders | (332147) | (76248) |
| **CAPITAL TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;Shares sold | 19197201 | 25055282 |
| &nbsp;&nbsp;Shares redeemed | (11649535) | (3043232) |
| &nbsp;&nbsp;ETF transaction fees (See Note 1) |  |  |
| Net increase (decrease) in net assets from capital transactions | 7547666 | 22012050 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 12444485 | 23207766 |
| **NET ASSETS:** |  |  |
| Beginning of the period | 23207766 |  |
| End of the period | $35652251 | $23207766 |
| **SHARES TRANSACTIONS** |  |  |
| &nbsp;&nbsp;Shares sold | 600000 | 910000 |
| &nbsp;&nbsp;Shares redeemed | (400000) | (110000) |
| Total increase (decrease) in shares outstanding | 200000 | 800000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 30, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| &nbsp;&nbsp;Net investment income (loss) | $733225 | $507005 | $82659 |
| &nbsp;&nbsp;Net realized gain (loss) | 128559 | 1497696 | 133494 |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (2322836) | 4721382 | 1888127 |
| Net increase (decrease) in net assets from operations | (1461052) | 6726083 | 2104280 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| &nbsp;&nbsp;From earnings | (1065270) | (530975) | (67734) |
| &nbsp;&nbsp;Return of capital | 85083 |  |  |
| Total distributions to shareholders | (980187) | (530975) | (67734) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| &nbsp;&nbsp;Shares sold | 20760909 | 35108214 | 24431395 |
| &nbsp;&nbsp;Shares redeemed | (12464167) | (10297175) | (2628360) |
| &nbsp;&nbsp;ETF transaction fees (See Note 1) | 2 | 4 | 1 |
| Net increase (decrease) in net assets from capital transactions | 8296744 | 24811043 | 21803036 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 5855505 | 31006151 | 23839582 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 54845733 | 23839582 |  |
| End of the period | $60701238 | $54845733 | $23839582 |
| **SHARES TRANSACTIONS** |  |  |  |
| &nbsp;&nbsp;Shares sold | 690000 | 1260000 | 950000 |
| &nbsp;&nbsp;Shares redeemed | (430000) | (370000) | (100000) |
| Total increase (decrease) in shares outstanding | 260000 | 890000 | 850000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on November 9, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | |
|:---|:---|:---|
| | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Period ended** <br>**July 31, 2024**<sup>(b)</sup> |
| **OPERATIONS:** | | |
| &nbsp;&nbsp;Net investment income (loss) | $5686349 | $3701274 |
| &nbsp;&nbsp;Net realized gain (loss) | (230400) | (894469) |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (509162) | 2341205 |
| Net increase (decrease) in net assets from operations | 4946787 | 5148010 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |
| &nbsp;&nbsp;From earnings | (5676002) | (3637215) |
| Total distributions to shareholders | (5676002) | (3637215) |
| **CAPITAL TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;Shares sold | 37233228 | 100345459 |
| &nbsp;&nbsp;Shares redeemed | (8961300) |  |
| Net increase (decrease) in net assets from capital transactions | 28271928 | 100345459 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 27542713 | 101856254 |
| **NET ASSETS:** |  |  |
| Beginning of the period | 101856254 |  |
| End of the period | $129398967 | $101856254 |
| **SHARES TRANSACTIONS** |  |  |
| &nbsp;&nbsp;Shares sold | 1840000 | 5020000 |
| &nbsp;&nbsp;Shares redeemed | (450000) |  |
| Total increase (decrease) in shares outstanding | 1390000 | 5020000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 9, 2023.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| &nbsp;&nbsp;Net investment income (loss) | $8499847 | $9493069 | $10222830 |
| &nbsp;&nbsp;Net realized gain (loss) | 2903104 | 15050085 | 7725816 |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | (39729553) | (4310160) | 20830640 |
| Net increase (decrease) in net assets from operations | (28326602) | 20232994 | 38779286 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| &nbsp;&nbsp;From earnings | (8592613) | (9743291) | (9891239) |
| Total distributions to shareholders | (8592613) | (9743291) | (9891239) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| &nbsp;&nbsp;Shares sold | 42813334 | 98672695 | 423825077 |
| &nbsp;&nbsp;Shares redeemed | (88188217) | (125154920) | (92509749) |
| &nbsp;&nbsp;ETF transaction fees (See Note 1) |  |  | 1 |
| Net increase (decrease) in net assets from capital transactions | (45374883) | (26482225) | 331315329 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | (82294098) | (15992522) | 360203376 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 344210854 | 360203376 |  |
| End of the period | $261916756 | $344210854 | $360203376 |
| **SHARES TRANSACTIONS** |  |  |  |
| &nbsp;&nbsp;Shares sold | 1460000 | 3120000 | 15500000 |
| &nbsp;&nbsp;Shares redeemed | (3130000) | (4060000) | (3240000) |
| Total increase (decrease) in shares outstanding | (1670000) | (940000) | 12260000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on August 8, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)**

---

| | | | |
|:---|:---|:---|:---|
| | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** |
| | **Period ended** <br>**June 30, 2025**<sup>(a)</sup> | **Year ended** <br>**July 31, 2024** | **Period ended** <br>**July 31, 2023**<sup>(b)</sup> |
| **OPERATIONS:** | | | |
| &nbsp;&nbsp;Net investment income (loss) | $273026 | $269073 | $144788 |
| &nbsp;&nbsp;Net realized gain (loss) | (1251158) | 13999964 | 645463 |
| &nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 11085082 | (1271109) | 8689025 |
| Net increase (decrease) in net assets from operations | 10106950 | 12997928 | 9479276 |
| **DISTRIBUTIONS TO SHAREHOLDERS:** |  |  |  |
| &nbsp;&nbsp;From earnings | (299204) | (254625) | (137017) |
| Total distributions to shareholders | (299204) | (254625) | (137017) |
| **CAPITAL TRANSACTIONS:** |  |  |  |
| &nbsp;&nbsp;Shares sold | 16385664 | 67659754 | 31001497 |
| &nbsp;&nbsp;Shares redeemed | (6408243) | (33860172) | (3717350) |
| Net increase (decrease) in net assets from capital transactions | 9977421 | 33799582 | 27284147 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 19785167 | 46542885 | 36626406 |
| **NET ASSETS:** |  |  |  |
| Beginning of the period | 83169291 | 36626406 |  |
| End of the period | $102954458 | $83169291 | $36626406 |
| **SHARES TRANSACTIONS** |  |  |  |
| &nbsp;&nbsp;Shares sold | 330000 | 1530000 | 1150000 |
| &nbsp;&nbsp;Shares redeemed | (140000) | (780000) | (150000) |
| Total increase (decrease) in shares outstanding | 190000 | 750000 | 1000000 |

---

(a) For the period August 1, 2024 to June 30, 2025. See Note 1.

(b) The Fund commenced operations on October 5, 2022.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**FINANCIAL HIGHLIGHTS** 

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | | | | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** |
| **For the period ended** | **Net asset value, beginning of period** | **Net investment income (loss)**<sup>(a)</sup> | **Net realized and unrealized gain (loss) on investments**<sup>(b)</sup> | **Total from investment operations** | **Net investment income** | **Return of capital** | **Net realized gains** | **Total distributions** | **ETF transaction fees per share** | **Net asset value, end of period** | **Total return**<sup>(c)</sup> | **Net assets, end of period (in thousands)** | **Ratio of expense to average net assets**<sup>(d)</sup> | **Ratio of net investment income (loss) to average net assets**<sup>(d)</sup> | **Portfolio turnover rate**<sup>(c)(e)</sup> |
| **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** | **Strive 1000 Dividend Growth ETF** |
| 6/30/2025<sup>(p)</sup> | $32.24 | 0.39 | 2.50 | 2.89 | (0.41) | – | – | (0.41) | – | $34.72 | 9.02% | $52082 | 0.35% | 1.29% | 18% |
| 7/31/2024 | $28.02 | 0.44 | 4.20 | 4.64 | (0.42) | – | – | (0.42) | – | $32.24 | 16.73% | $43200 | 0.35% | 1.50% | 10% |
| 7/31/2023<sup>(f)</sup> | $24.59 | 0.30 | 3.35 | 3.65 | (0.22) | – | – | (0.22) | 0.00<sup>(g)</sup> | $28.02 | 14.90% | $22415 | 0.35% | 1.56% | 18% |
| **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** | **Strive 1000 Growth ETF** |
| 6/30/2025<sup>(p)</sup> | $39.70 | 0.24 | 6.27 | 6.51 | (0.23) | – | (0.01) | (0.24) | – | $45.97 | 16.43% | $129629 | 0.18% | 0.61% | 8% |
| 7/31/2024 | $32.20 | 0.24 | 7.49 | 7.73 | (0.23) | – | – | (0.23) | 0.00<sup>(g)</sup> | $39.70 | 24.14% | $86953 | 0.18% | 0.65% | 9% |
| 7/31/2023<sup>(f)</sup> | $24.51 | 0.16 | 7.64 | 7.80 | (0.11) | – | – | (0.11) | – | $32.20 | 31.88% | $28978 | 0.18% | 0.74% | 2% |
| **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** | **Strive 1000 Value ETF** |
| 6/30/2025<sup>(p)</sup> | $29.56 | 0.73 | 1.30 | 2.03 | (0.77) | – | – | (0.77) | – | $30.82 | 6.97% | $62251 | 0.18% | 2.63% | 17% |
| 7/31/2024 | $26.31 | 0.73 | 3.18 | 3.91 | (0.66) | – | – | (0.66) | – | $29.56 | 15.12% | $54679 | 0.18% | 2.66% | 13% |
| 7/31/2023<sup>(f)</sup> | $24.45 | 0.47 | 1.72 | 2.19 | (0.33) | – | – | (0.33) | – | $26.31 | 9.03% | $17101 | 0.18% | 2.62% | 4% |
| **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** | **Strive 500 ETF** |
| 6/30/2025<sup>(p)</sup> | $35.34 | 0.44 | 4.67 | 5.11 | (0.45) | – | – | (0.45) | 0.00<sup>(g)</sup> | $40.00 | 14.50% | $923505 | 0.05% | 1.28% | 2% |
| 7/31/2024 | $29.29 | 0.44 | 6.02 | 6.46 | (0.41) | – | – | (0.41) | 0.00<sup>(g)</sup> | $35.34 | 22.26% | $601208 | 0.05% | 1.40% | 4% |
| 7/31/2023<sup>(h)</sup> | $25.10 | 0.35 | 4.10 | 4.45 | (0.26) | – | – | (0.26) | – | $29.29 | 17.85% | $251869 | 0.05% | 1.52% | 3% |
| **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** | **Strive Emerging Markets Ex-China ETF** |
| 6/30/2025<sup>(p)</sup> | $29.95 | 0.59 | 1.63 | 2.22 | (1.16) | – | – | (1.16) | 0.02 | $31.03 | 7.72% | $99301 | 0.32% | 2.24% | 21% |
| 7/31/2024 | $26.97 | 0.82 | 2.35 | 3.17 | (0.31) | – | – | (0.31) | 0.12 | $29.95 | 12.38% | $100346 | 0.32% | 3.02% | 80% |
| 7/31/2023<sup>(i)</sup> | $25.17 | 0.29 | 1.43 | 1.88 | (0.08) | – | – | (0.08) | 0.16 | $26.97 | 7.49% | $153727 | 1.29% | 2.28% | 39% |

---

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**FINANCIAL HIGHLIGHTS (CONTINUED)**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | | | | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** |
| **For the period ended** | **Net asset value, beginning of period** | **Net investment income (loss)**<sup>(a)</sup> | **Net realized and unrealized gain (loss) on investments**<sup>(b)</sup> | **Total from investment operations** | **Net investment income** | **Return of capital** | **Net realized gains** | **Total distributions** | **ETF transaction fees per share** | **Net asset value, end of period** | **Total return**<sup>(c)</sup> | **Net assets, end of period (in thousands)** | **Ratio of expense to average net assets**<sup>(d)</sup> | **Ratio of net investment income (loss) to average net assets**<sup>(d)</sup> | **Portfolio turnover rate**<sup>(c)(e)</sup> |
| **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** | **Strive Enhanced Income Short Maturity ETF** |
| 6/30/2025<sup>(p)</sup> | $20.25 | 0.98 | 0.04 | 1.02 | (0.95) | – | – | (0.95) | – | $20.32 | 5.15% | $315185 | 0.25% | 5.29% | 54% |
| 7/31/2024<sup>(j)</sup> | $20.00 | 1.17 | 0.12 | 1.29 | (1.04) | – | – | (1.04) | – | $20.25 | 6.57% | $115628 | 0.25% | 5.94% | 83% |
| **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** | **Strive International Developed Markets ETF** |
| 6/30/2025<sup>(p)</sup> | $25.67 | 0.65 | 2.93 | 3.58 | (0.62) | – | – | (0.62) | 0.00<sup>(g)</sup> | $28.63 | 14.05% | $18607 | 0.29% | 2.73% | 12% |
| 7/31/2024<sup>(k)</sup> | $25.11 | 0.02 | 0.54 | 0.56 | – | – | – | – | 0.00<sup>(g)</sup> | $25.67 | 2.24% | $10269 | 0.29% | 0.77% | 0% |
| **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** | **Strive Mid Cap ETF** |
| 6/30/2025<sup>(p)</sup> | $25.28 | 0.31 | 1.12 | 1.43 | (0.32) | – | (0.00)<sup>(g)</sup> | (0.32) | – | $26.39 | 5.71% | $17154 | 0.18% | 1.31% | 24% |
| 7/31/2024<sup>(l)</sup> | $24.50 | 0.09 | 0.75 | 0.84 | (0.06) | – | – | (0.06) | – | $25.28 | 3.44% | $12388 | 0.18% | 1.24% | 4% |
| **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** | **Strive Natural Resources and Security ETF** |
| 6/30/2025<sup>(p)</sup> | $29.01 | 0.40 | 6.63 | 7.03 | (0.39) |  | – | (0.39) | – | $35.65 | 24.46% | $35652 | 0.49% | 1.40% | 21% |
| 7/31/2024<sup>(m)</sup> | $25.13 | 0.30 | 3.84 | 4.14 | (0.26) | – | – | (0.26) | – | $29.01 | 16.60% | $23208 | 0.49% | 1.20% | 27% |
|  |  |  |  |  |  | – |  |  |  |  |  |  |  |  |  |
| **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** | **Strive Small-Cap ETF** |
| 6/30/2025<sup>(p)</sup> | $31.52 | 0.39 | (1.04) | (0.65) | (0.47) | (0.05) | – | (0.52) | 0.00<sup>(g)</sup> | $30.35 | -2.08% | $60701 | 0.18% | 1.41% | 32% |
| 7/31/2024 | $28.05 | 0.38 | 3.48 | 3.86 | (0.39) | – | – | (0.39) | 0.00<sup>(g)</sup> | $31.52 | 13.99% | $54846 | 0.18% | 1.36% | 31% |
| 7/31/2023<sup>(f)</sup> | $24.32 | 0.25 | 3.67 | 3.92 | (0.19) | – | – | (0.19) | 0.00<sup>(g)</sup> | $28.05 | 16.20% | $23840 | 0.18% | 1.34% | 20% |
| **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** | **Strive Total Return Bond ETF** |
| 6/30/2025<sup>(p)</sup> | $20.29 | 0.93 | (0.11) | 0.82 | (0.92) | – | – | (0.92) | – | $20.19 | 4.11% | $129399 | 0.49% | 5.05% | 39% |
| 7/31/2024<sup>(j)</sup> | $20.00 | 1.04 | 0.21 | 1.25 | (0.96) | – | – | (0.96) | – | $20.29 | 6.45% | $101856 | 0.49% | 5.35% | 51% |

---

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**FINANCIAL HIGHLIGHTS (CONTINUED)**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **INVESTMENT OPERATIONS:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | **LESS DISTRIBUTIONS FROM:** | | | | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** | **SUPPLEMENTAL DATA AND RATIOS:** |
| **For the period ended** | **Net asset value, beginning of period** | **Net investment income (loss)**<sup>(a)</sup> | **Net realized and unrealized gain (loss) on investments**<sup>(b)</sup> | **Total from investment operations** | **Net investment income** | **Return of capital** | **Net realized gains** | **Total distributions** | **ETF transaction fees per share** | **Net asset value, end of period** | **Total return**<sup>(c)</sup> | **Net assets, end of period (in thousands)** | **Ratio of expense to average net assets**<sup>(d)</sup> | **Ratio of net investment income (loss) to average net assets**<sup>(d)</sup> | **Portfolio turnover rate**<sup>(c)(e)</sup> |
| **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** | **Strive U.S. Energy ETF** |
| 6/30/2025<sup>(p)</sup> | $30.41 | 0.79 | (3.24) | (2.45) | (0.82) | – | – | (0.82) | – | $27.14 | -8.08% | $261917 | 0.41% | 3.07% | 8% |
| 7/31/2024 | $29.38 | 0.81 | 1.06 | 1.87 | (0.84) | – | – | (0.84) | – | $30.41 | 6.43% | $344211 | 0.41% | 2.74% | 21% |
| 7/31/2023<sup>(n)</sup> | $25.12 | 0.84 | 4.20 | 5.04 | (0.78) | – | – | (0.78) | 0.00<sup>(g)</sup> | $29.38 | 20.22% | $360203 | 0.41% | 3.04% | 6% |
| **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** | **Strive U.S. Semiconductor ETF** |
| 6/30/2025<sup>(p)</sup> | $47.53 | 0.16 | 5.55 | 5.71 | (0.17) | – | – | (0.17) | – | $53.07 | 12.07% | $102954 | 0.40% | 0.38% | 25% |
| 7/31/2024 | $36.63 | 0.21 | 10.90 | 11.11 | (0.21) | – | – | (0.21) | – | $47.53 | 30.46% | $83169 | 0.40% | 0.51% | 29% |
| 7/31/2023<sup>(o)</sup> | $25.07 | 0.22 | 11.53 | 11.75 | (0.19) | – | – | (0.19) | – | $36.63 | 47.03% | $36626 | 0.40% | 0.92% | 10% |

---

(a) Net investment income per share has been calculated based on average shares outstanding during the periods.

(b) Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

(c) Not annualized for periods less than one year.

(d) Annualized for periods less than one year.

(e) Portfolio turnover rate excludes in-kind transactions.

(f) Inception date of the Fund was November 9, 2022.

(g) Amount represents less than $0.005 per share.

(h) Inception date of the Fund was September 14, 2022.

(i) Inception date of the Fund was January 30, 2023.

(j) Inception date of the Fund was August 9, 2023.

(k) Inception date of the Fund was June 25, 2024.

(l) Inception date of the Fund was April 10, 2024.

(m) Inception date of the Fund was August 30, 2023.

(n) Inception date of the Fund was August 8, 2022.

(o) Inception date of the Fund was October 5, 2022.

(p) For the period August 1, 2024 to June 30, 2025. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS June 30, 2025**

**NOTE 1 – ORGANIZATION**

The funds listed in the table below (individually, a "Fund", or collectively, the "Funds") are each a series of the EA Series Trust (the "Trust"), which was organized as a Delaware statutory trust on October 11, 2013. The Trust is registered with the Securities and Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company, and the offering of the Funds' shares ("Shares") is registered under the Securities Act of 1933, as amended (the "Securities Act"). Each Fund is considered diversified under the 1940 Act with the exception of BUXX, FTWO, STXT, DRLL, and SHOC, which are non-diversified. Each Fund qualifies as an investment company as defined in the Financial Accounting Standards Codification Topic 946-Financial Services-Investment Companies. See the Funds' Prospectus and Statement of Additional Information regarding the risks of investing in shares of each Fund. Each Fund is listed on the New York Stock Exchange.

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Ticker** | **Commencement of Operations** | **Creation Unit Size** |
| Strive 1000 Dividend Growth ETF | STXD | November 9, 2022 | 10000 |
| Strive 1000 Growth ETF | STXG | November 9, 2022 | 10000 |
| Strive 1000 Value ETF | STXV | November 9, 2022 | 10000 |
| Strive 500 ETF | STRV | September 14, 2022 | 10000 |
| Strive Emerging Markets Ex-China ETF | STXE | January 30, 2023 | 50000 |
| Strive Enhanced Income Short Maturity ETF | BUXX | August 9, 2023 | 10000 |
| Strive International Developed Markets ETF | STXI | June 25, 2024 | 50000 |
| Strive Mid-Cap ETF | STXM | April 10, 2024 | 10000 |
| Strive Natural Resources and Security ETF | FTWO | August 30, 2023 | 10000 |
| Strive Small-Cap ETF | STXK | November 9, 2022 | 10000 |
| Strive Total Return Bond ETF | STXT | August 9, 2023 | 10000 |
| Strive U.S. Energy ETF | DRLL | August 8, 2022 | 10000 |
| Strive U.S. Semiconductor ETF | SHOC | October 5, 2022 | 10000 |

---

Effective February 1, 2025, the Funds' fiscal year end changed from July 31 to June 30.

Prior to August 16, 2024, the name of the Strive Natural Resources and Security ETF was Strive FAANG 2.0 ETF.

The investment objective of the below Funds is to seek to track the total return performance, before fees and expenses, of an index as described in the table below, and each Fund's strategy is to track the investment results of its underlying index. The underlying index for each Fund is defined below:

---

| | | |
|:---|:---|:---|
| **Fund** | **Index Description** | **Index** |
| STXD | U.S.-listed equities with a history of consistently growing dividends | Bloomberg U.S. 1000 Dividend Growth Index |
| STXG | Large- and mid-capitalization U.S. equity securities that exhibit growth characteristics | Bloomberg U.S. 1000 Growth Index |
| STXV | Large- and mid-capitalization U.S. equity securities that exhibit value characteristics | Bloomberg U.S. 1000 Value Index |
| STRV | U.S.-listed large cap equity securities | Bloomberg 500 Index |
| STXE | Emerging market, ex-China securities | Bloomberg Emerging Markets ex China Large & Mid Cap Index |
| STXI | Developed markets, ex-US securities | Bloomberg Developed Markets ex U.S. Large & Mid Cap Index |
| STXM | U.S. mid-capitalization companies | Bloomberg U.S. 400 Index |
| FTWO | Companies that are engaged in national security and natural resource security | Bloomberg FAANG 2.0 Select Index |
| STXK | U.S. small-capitalization companies | Bloomberg U.S. 600 Index |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | |
|:---|:---|:---|
| **Fund** | **Index Description** | **Index** |
| DRLL | U.S.-listed equities in the energy sector | Bloomberg U.S. Energy Select Index |
| SHOC | U.S.-listed equities in the semiconductor sector | Bloomberg U.S. Listed Semiconductors Select Index |

---

Prior to January 26, 2024, STRV's underlying index was the Solactive GBS United States 500 Index. Prior to January 25, 2023, STXK's underlying index was the Bloomberg US 2000. Prior to April 11, 2024, DRLL's underlying index was the Solactive United States Energy Regulated Capped Index. Prior to March 21, 2024, SHOC's underlying index was the Solactive United States Semiconductors 30 Capped Total Return Index. The investment objective of BUXX is to seek to provide current income while seeking to minimize price volatility and maintain liquidity, and the investment objective of the STXT is to seek to maximize total return. Each Fund manages to its respective index.

Market prices for the shares may be different from their net asset value ("NAV"). Each Fund issues and redeems shares on a continuous basis at NAV only in blocks of shares, called "Creation Units." Creation Units are issued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally trade in the secondary market at market prices that change throughout the day in share amounts less than a Creation Unit. Except when aggregated in Creation Units, shares are not redeemable securities of the Fund. Shares of the Fund may only be purchased or redeemed by certain financial institutions ("Authorized Participants"). An Authorized Participant is a participant of a clearing agency registered with the SEC, which has a written agreement with the Trust or one of its service providers that allows the authorized participant to place orders for the purchase and redemption of creation units. Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the shares directly from the Fund. Rather, most retail investors may purchase shares in the secondary market with the assistance of a broker and are subject to customary brokerage commissions or fees.

Authorized Participants may be required to pay a transaction fee to compensate the Trust or its custodian for costs incurred in connection with creation and redemption transactions. Certain transactions consisting all or partially of cash may also be subject to a variable charge, which is payable to the relevant Fund, of up to 2.00% of the value of the order in addition to the transaction fee. A Fund may determine to waive the variable charge on certain orders when such waiver is determined to be in the best interests of Fund shareholders. Transaction fees received by a Fund, if any, are displayed in the Capital Share Transactions sections of the Statements of Changes in Net Assets.

The end of the reporting period for each Fund is June 30, 2025, and the period covered by these Notes to Financial Statements is from August 1, 2024 to June 30, 2025 (the "current fiscal period").

**NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES**

The following is a summary of significant accounting policies consistently followed by the Fund. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.*Security Valuation.* Equity securities that are traded on a national securities exchange, except those listed on the NASDAQ Global Market® ("NASDAQ") are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on NASDAQ will be valued at the NASDAQ Official Closing Price ("NOCP"). If, on a particular day, an exchange-traded or NASDAQ security does not trade, then the most recent quoted bid for exchange-traded or the mean between the most recent quoted bid and ask price for NASDAQ securities will be used. Equity securities that are not traded on a listed exchange are generally valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies are valued at the investment company's applicable net asset value, with the exception of exchange-traded open-end investment companies which are priced as equity securities.

Subject to its oversight, the Trust's Board of Trustees (the "Board") has delegated primary responsibility for determining or causing to be determined the value of the Fund's investments to Empowered Funds, LLC dba EA

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

Advisers (the "Adviser"), pursuant to the Trust's valuation policy and procedures, which have been adopted by the Trust and approved by the Board. In accordance with Rule 2a-5 under the 1940 Act, the Board designated the Adviser as the "valuation designee" of each Fund. If the Adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the Adviser in accordance with the Trust's fair valuation policy and procedures. The Adviser will provide the Board with periodic reports, no less frequently than quarterly, that discuss the functioning of the valuation process, if applicable, and that identify issues and valuation problems that have arisen, if any. As appropriate, the Adviser and the Board will review any securities valued by the Adviser in accordance with the Trust's valuation policies during these periodic reports. The use of fair value pricing by each Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of the current fiscal period end, each Fund did not hold any securities that required fair valuation due to unobservable inputs.

As described above, the Funds may use various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.

Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds' own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The following is a summary of the fair value classification of the Funds' investments as of the current fiscal period end:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>STXD</u>** | | | | |
| **<u>Assets</u>** | | | | |
| Common Stocks | $50883667 | $— | $— | $50883667 |
| Real Estate Investment Trusts | 1141423 |  |  | 1141423 |
| Money Market Funds | 51215 |  |  | 51215 |
| **Total Investments in Securities** | $**52076305** | $**—** | $**—** | $**52076305** |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>STXG</u>** | | | | |
| **<u>Assets</u>** | | | | |
| Common Stocks | $127500320 | $— | $— | $127500320 |
| Real Estate Investment Trusts | 1753889 |  |  | 1753889 |
| Contingent Value Rights |  |  | 0<sup>(a)(b)</sup> |  |
| Money Market Funds | 369325 |  |  | 369325 |
| **Total Investments in Securities** | $**129623534** | $**—** | **$0**<sup>(a)(b)</sup> | $**129623534** |
| **<u>STXV</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $59521306 | $— | $— | $59521306 |
| Real Estate Investment Trusts | 2613796 |  |  | 2613796 |
| Money Market Funds | 59372 |  |  | 59372 |
| **Total Investments in Securities** | $**62194474** | $**—** | $**—** | $**62194474** |
| **<u>STRV</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $905682219 | $— | $— | $905682219 |
| Real Estate Investment Trusts | 16151688 |  |  | 16151688 |
| Money Market Funds | 1365241 |  |  | 1365241 |
| **Total Investments in Securities** | $**923199148** | $**—** | $**—** | $**923199148** |
| **<u>STXE</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $96948990 | $— | $— | $96948990 |
| Preferred Stocks | 2519064 |  |  | 2519064 |
| Rights |  |  | 5020<sup>(b)</sup> | 5020 |
| Money Market Funds | 471799 |  |  | 471799 |
| **Total Investments in Securities** | $**99939853** | $**—** | **$5020**<sup>(b)</sup> | $**99944873** |
| **<u>BUXX</u>** | **<u>BUXX</u>** |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Asset-Backed Securities | $— | $89678751 | $— | $89678751 |
| Corporate Bonds |  | 83371797 |  | 83371797 |
| Collateralized Mortgage Obligations |  | 59437335 |  | 59437335 |
| Collateralized Loan Obligations |  | 48923617 |  | 48923617 |
| Mortgage-Backed Securities |  | 9330024 |  | 9330024 |
| Money Market Funds | 26068335 |  |  | 26068335 |
| U.S. Treasury Bills |  | 8928030 |  | 8928030 |
| Total Investments in Securities | $**26068335** | $**299669554** | $**—** | $**325737889** |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Other Financial Instruments:</u>** | | | | |
| Futures Contracts<sup>(c)</sup> | $11330 | $— | $— | $11330 |
| Total Other Financial Instruments | $**11330** | $**—** | $**—** | $**11330** |
| **<u>STXI</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $18475562 | $— | $— | $18475562 |
| Real Estate Investment Trusts | 47482 |  |  | 47482 |
| Money Market Funds | 34377 |  |  | 34377 |
| **Total Investments in Securities** | $**18557421** | $**—** | $**—** | $**18557421** |
| **<u>STXM</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $15977487 | $— | $— | $15977487 |
| Real Estate Investment Trusts | 1148108 |  |  | 1148108 |
| Money Market Funds | 15535 |  |  | 15535 |
| **Total Investments in Securities** | $**17141130** | $**—** | $**—** | $**17141130** |
| **<u>FTWO</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $35610727 | $— | $— | $35610727 |
| Money Market Funds | 17067 |  |  | 17067 |
| **Total Investments in Securities** | $**35627794** | $**—** | $**—** | $**35627794** |
| **<u>STXK</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $55828869 | $— | $— | $55828869 |
| Real Estate Investment Trusts | 4767471 |  |  | 4767471 |
| Money Market Funds | 42872 |  |  | 42872 |
| **Total Investments in Securities** | $**60639212** | $**—** | $**—** | $**60639212** |
| **<u>STXT</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Mortgage-Backed Securities | $— | $56984646 | $— | $56984646 |
| Asset-Backed Securities |  | 20878118 |  | 20878118 |
| U.S. Treasury Securities |  | 17737045 |  | 17737045 |
| Corporate Bonds |  | 12923771 |  | 12923771 |
| Collateralized Loan Obligations |  | 9008361 |  | 9008361 |
| Collateralized Mortgage Obligations |  | 5887305 |  | 5887305 |
| Convertible Bonds |  | 1764550 |  | 1764550 |
| Money Market Funds | 2784744 |  |  | 2784744 |
| **Total Investments in Securities** | $**2784744** | $**125183796** | $**—** | $**127968540** |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **Other Financial Instruments:** | | | | |
| Futures Contracts<sup>(c)</sup> | $557624 | $— | $— | $557624 |
| **Total Other Financial Instruments** | $**557624** | $**—** | $**—** | $**557624** |
| **<u>DRLL</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $261883592 | $— | $— | $261883592 |
| Money Market Funds | 62277 |  |  | 62277 |
| **Total Investments in Securities** | $**261945869** | $**—** | $**—** | $**261945869** |
| **<u>SHOC</u>** |  |  |  |  |
| **<u>Assets</u>** |  |  |  |  |
| Common Stocks | $102744192 | $— | $— | $102744192 |
| Money Market Funds | 164348 |  |  | 164348 |
| **Total Investments in Securities** | $**102908540** | $**—** | $**—** | $**102908540** |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(a) Amount is less than $0.50.

(b) Management has decided that the amount of Level 3 securities compared to total net assets is not material to STXG, STXE and BUXX; therefore, the roll forward of Level 3 securities and assumptions are not shown for the current fiscal period for the respective funds.

(c) The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025.

During the current fiscal period, the Funds, other than STXG, STXE and BUXX, did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.*Derivative Transactions* The values of derivative instruments on the Statements of Assets and Liabilities for BUXX and STXT as of the current fiscal period, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Derivatives** | **Type of Derivative Risk** | **Statements of Assets and Liabilities Location** | **Fair Value of Deposit at Broker for Futures** | **Value of Unrealized Appreciation (Depreciation)\*** |
| BUXX | Futures Contracts | Interest Rate | Deposit at Broker for Futures | $40854 | $11330 |
| STXT | Futures Contracts | Interest Rate | Deposit at Broker for Futures | $151153 | $557624 |

---

\* Represents the value of unrealized appreciation (depreciation) as presented in the Schedule of Open Futures Contracts.

The effect of derivative instruments on the Statements of Operations for the current fiscal period, for BUXX and STXT was as follows:

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Derivatives** | **Type of Derivative Risk** | **Location of Gain (Loss) on Derivatives in Income** | **Realized Gain (Loss) on Derivatives** |
| BUXX | Futures Contracts | Interest Rate | Net realized gain (loss) on futures contracts | $(582) |
| STXT | Futures Contracts | Interest Rate | Net realized gain (loss) on futures contracts | $(539649) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Derivatives** | **Type of Derivative Risk** | **Location of Gain (Loss) on Derivatives in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives** |
| BUXX | Futures Contracts | Interest Rate | Net change in Unrealized appreciation (depreciation) on futures contracts | $(6135) |
| STXT | Futures Contracts | Interest Rate | Net change in Unrealized appreciation (depreciation) on futures contracts | $(220164) |

---

The average notional value of long futures held in BUXX and STXT during the current fiscal period was $2,424,830 and $30,689,072, respectively. The average notional value of short futures held in BUXX and STXT during the current fiscal period was $0 and $9,672, respectively.

**Balance Sheet Offsetting Information**

During the ordinary course of business, the Funds may enter into transactions subject to enforceable netting agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting agreements allows the Funds to offset any exposure to a specific counterparty with any collateral received or delivered to that counterparty based on the terms of the agreement. Generally, the Funds manage their cash collateral and securities collateral on a counterparty basis. As of the current fiscal period, the Funds were not subject to any netting agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.*Foreign Currency.* Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts using the spot rate of exchange at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions.

The Funds isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. That portion of gains (losses) attributable to the changes in market prices and the portion of gains (losses) attributable to changes in foreign exchange rates are included on the "Statement of Operations" under "Net realized gain (loss) – Foreign currency."

Each Fund reports net realized foreign exchange gains or losses that arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal year-end, resulting from changes in exchange rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.*Federal Income Taxes.* The Funds' policy is to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies and to distribute substantially all of their net investment income and net capital gains to shareholders. Therefore, no federal income tax provision is required. Each Fund plans to file U.S. Federal and various state and local tax returns.

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

Each Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund's uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits on uncertain tax positions as income tax expenses in the Statements of Operations. During the current fiscal period, the Funds did not incur any interest or penalties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.Gains and losses realized on sales of securities are determined on a specific identification basis. Dividend income is recorded on the ex-dividend date, net of any foreign taxes withheld at source. Interest income is recorded on an accrual basis. Withholding taxes on foreign dividends have been provided for in accordance with the Funds' understanding of the applicable tax rules and regulations.

Distributions received from a Funds' investments in REITs and MLPs may be characterized as ordinary income, net capital gain, or return of capital. The proper characterization of such distributions is generally not known until after the end of each calendar year. As such, the Funds must use estimates in reporting the character of their income and distributions for financial statement purposes. Such estimates are based on historical information available from each MLP and other industry sources. The actual character of distributions to each Fund's shareholders will be reflected on the Form 1099 received by shareholders after the end of the calendar year. Due to the nature of such investments, a portion of the distributions received by each Fund's shareholders may represent a return of capital.

Distributions to shareholders from net investment income for each Fund are declared and paid on a annual basis and distributions to shareholders from net realized gains on securities normally are declared and paid on an annual basis. Distributions are recorded on the ex-dividend date. The Funds may distribute more frequently, if necessary, for tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.*Use of Estimates.* The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of increases and decreases in net assets from operations during the period. Actual results could differ from those estimates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G.*Share Valuation.* The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds' shares will not be priced on the days on which the New York Stock Exchange ("NYSE") is closed for regular trading. The offering and redemption price per share for each Fund is equal to the Fund's net asset value per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.*Guarantees and Indemnifications.* In the normal course of business, the Funds enter into contracts with service providers that contain general indemnification clauses. Additionally, as is customary, the Trust's organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. Each Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be against the Funds that have not yet occurred. As of the date of this Report, no claim has been made for indemnification pursuant to any such agreement of the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I.*Segment Reporting:* The Funds adopted Financial Accounting Standards Board Update 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures ("ASU 2023-07") during the current fiscal period. The Funds' adoption of the new standard impacted financial statement disclosures only and did not affect each Fund's financial position or results of operations.

The Chief Financial Officer acts as the Funds' Chief Operating Decision Maker ("CODM') and is responsible for assessing performance and allocating resources with respect to each Fund. The CODM has concluded that each Fund operates as a single operating segment since the Funds have a single investment strategy as disclosed in their

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

prospectus, against which the CODM assesses performance. The financial information provided to and reviewed by the CODM is presented within the Funds' financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J.*Reclassification of Capital Accounts.* GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. In addition, the Funds realized net capital gains resulting from in-kind redemptions, in which shareholders exchanged Fund shares for securities held by the Funds rather than for cash. Because such gains are not taxable to the Funds, and are not distributed to shareholders, they have been reclassified from distributable earnings to paid-in capital. For the current fiscal period, the following table shows the reclassifications made:

---

| | | |
|:---|:---|:---|
| | **Distributable<br>Earnings** | **Paid-in<br>Capital** |
| STXD | $(1539737) | $1539737 |
| STXG | (257034) | 257034 |
| STXV | (3556075) | 3556075 |
| STRV | (4078278) | 4078278 |
| STXE | (47386) | 47386 |
| BUXX |  |  |
| STXI |  |  |
| STXM | (141409) | 141409 |
| FTWO | (1219834) | 1219834 |
| STXK | (3841168) | 3841168 |
| STXT |  |  |
| DRLL | (6685256) | 6685256 |
| SHOC | (1884143) | 1884143 |

---

**NOTE 3 – COMMITMENTS AND OTHER RELATED PARTY TRANSACTIONS.**

Empowered Funds, LLC dba EA Advisers (the "Adviser") serves as the investment adviser to the Funds. Pursuant to an investment advisory agreement (the "Advisory Agreement") between the Trust, on behalf of the Funds, and the Adviser, the Adviser provides investment advice to the Funds and oversees the day-to-day operations of the Funds, subject to the direction and control of the Board and the officers of the Trust. Under the Advisory Agreement, the Adviser is also responsible for arranging transfer agency, custody, fund administration and accounting, and other non-distribution related services necessary for the Funds to operate. The Adviser administers the Funds' business affairs, provides office facilities and equipment and certain clerical, bookkeeping and administrative services. The Adviser agrees to pay all expenses incurred by the Funds except for the fee paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing costs), litigation expense (including class action-related services) and other non-routine or extraordinary expenses.

Strive Asset Management, LLC serves as a discretionary investment sub-adviser to the Funds. Pursuant to an investment sub-advisory agreement (the "Sub-Advisory Agreement") among the Trust, the Adviser and the Sub-Adviser, the Sub-Adviser is responsible for determining the investment exposures for the Funds, subject to the overall supervision and oversight of the Adviser and the Board.

Along with Strive Asset Management, LLC, Angel Oak Capital Advisors, LLC ("Angel Oak") also serves as a sub-adviser to BUXX and STXT only. Pursuant to an investment sub-advisory agreement (the "Angel Oak Sub-Advisory Agreement") among the Trust, Angel Oak, and the Adviser, Angel Oak is responsible for implementing Strive Asset Management, LLC's sector allocations and duration target by selecting investments and executing each Fund's transactions in accordance with such sector allocations and duration targets, subject to the investment objective, policies and limitations of each Fund, subject to the overall supervision and oversight of the Adviser and the Board.

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

The table below represents the annual rate based on average daily net assets that each Fund pays the Adviser monthly:

---

| | |
|:---|:---|
| STXD | 0.35% |
| STXG | 0.18% |
| STXV | 0.18% |
| STRV | 0.0545% |
| STXE | 0.32% |
| BUXX | 0.25% |
| STXI | 0.29% |
| STXM | 0.18% |
| FTWO | 0.49% |
| STXK | 0.18% |
| STXT | 0.49% |
| DRLL | 0.41% |
| SHOC | 0.40% |

---

U.S. Bancorp Fund Services, LLC ("Fund Services" or "Administrator"), doing business as U.S. Bank Global Fund Services, acts as the Funds' Administrator and, in that capacity, performs various administrative and accounting services for the Funds. The Administrator prepares various federal and state regulatory filings, reports and returns for the Funds, including regulatory compliance monitoring and financial reporting; prepares reports and materials to be supplied to the trustees; monitors the activities of the Funds' Custodian, transfer agent and fund accountant. Fund Services also serves as the transfer agent and fund accountant to the Funds. U.S. Bank N.A. (the "Custodian"), an affiliate of the Administrator, serves as the Funds' Custodian.

The Custodian acts as the securities lending agent (the "Securities Lending Agent") for the Funds.

**NOTE 4 – SECURITIES LENDING**

Each Fund may lend up to 33<sup>1/3</sup>% of the value of the securities in their portfolios to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending program administered by the Securities Lending Agent. The securities lending agreement requires that loans are collateralized at all times in an amount equal to at least 102% of the value of any domestic loaned securities at the time of the loan, plus accrued interest. The use of loans of foreign securities, which are denominated and payable in U.S. dollars, shall be collateralized in an amount equal to 105% of the value of any loaned securities at the time of the loan plus accrued interest. The Funds receive compensation in the form of fees and earn interest on the cash collateral. The amount of fees depends on a number of factors including the type of security and length of the loan. The Funds continue to receive interest payments or dividends on the securities loaned during the borrowing period. Gain or loss on the value of securities loaned that may occur during the term of the loan will be for the account of the Funds. The Funds have the right under the terms of the securities lending agreement to recall the securities from the borrower on demand.

The securities lending agreement provides that, in the event of a borrower's material default, the Securities Lending Agent shall take all actions the Securities Lending Agent deems appropriate to liquidate the collateral, purchase replacement securities at the Securities Lending Agent's expense, or pay the Fund an amount equal to the market value of the loaned securities, subject to certain limitations which are set forth in detail in the securities lending agreement between the Fund and the Securities Lending Agent.

During the current fiscal period, certain Funds had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with the Trust-approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Funds could also experience delays in recovering their securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Funds are indemnified from this risk by contract with the Securities Lending Agent. As of the end of the current fiscal period, the Funds did not have any securities on loan.

The interest income earned by the funds on the investment of cash collateral received from borrowers for the securities loaned to them ("Securities Lending Income") is reflected in the Funds' Statements of Operations. Securities lending income earned on collateral investments and recognized by the applicable funds during the current fiscal period was as follows:

---

| | |
|:---|:---|
| STXD | $586 |
| STXG | 1180 |
| STXV | 1153 |
| STRV | 8150 |
| STXM | 61 |
| FTWO | 517 |
| STXK | 6556 |
| DRLL | 1064 |
| SHOC | 155 |

---

Due to the absence of a master netting agreement related to the Funds' participation in securities lending, no additional offsetting disclosures have been made on behalf of the Funds for the total borrowings listed above.

**NOTE 5 – PURCHASES AND SALES OF SECURITIES**

For the current fiscal period, purchases and sales of securities for the applicable Funds, excluding short-term securities and in-kind transactions for each Fund were as follows:

---

| | | |
|:---|:---|:---|
| | **Purchases** | **Sales** |
| STXD | $9276727 | $8761142 |
| STXG | 11759942 | 8152133 |
| STXV | 13949347 | 10405503 |
| STRV | 42640055 | 15086966 |
| STXE | 20406982 | 25134949 |
| BUXX | 267556736 | 99022820 |
| STXI | 1902429 | 1898401 |
| STXM | 4392017 | 3578875 |
| FTWO | 6246826 | 5543445 |
| STXK | 23975156 | 18056712 |
| STXT | 72016122 | 46257755 |
| DRLL | 25289599 | 25389456 |
| SHOC | 23193289 | 19932788 |

---

For the current fiscal period, in-kind transactions associated with creations and redemptions for each Fund were as follows:

---

| | | |
|:---|:---|:---|
| | **Purchases** | **Sales** |
| STXD | $9074928 | $4214330 |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | |
|:---|:---|:---|
| | **Purchases** | **Sales** |
| STXG | 23854773 | 593347 |
| STXV | $16525320 | $14430236 |
| STRV | 210059853 | 9502060 |
| STXE | 163118 | 476428 |
| BUXX |  |  |
| STXI | 6310087 |  |
| STXM | 4673232 | 1352078 |
| FTWO | 18341480 | 11458634 |
| STXK | 14721317 | 12355221 |
| STXT |  |  |
| DRLL | 42395840 | 87363097 |
| SHOC | 13518392 | 6291664 |

---

There were no purchases or sales of U.S. Government securities during the current fiscal period, except for the following:

---

| | | |
|:---|:---|:---|
| | **Purchases** | **Sales** |
| BUXX | $— | $1798652 |
| STXT | 5588457 | 3346521 |

---

**NOTE 6 – TAX INFORMATION**

The components of tax basis cost of investments and net unrealized appreciation (depreciation) for federal income tax purposes at the current fiscal period, for each Fund were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **STXD** | **STXG** | **STXV** |
| Tax cost of Investments | $43013964 | $98486074 | $58447224 |
| Gross tax unrealized appreciation | 11169703 | 34587389 | 8272118 |
| Gross tax unrealized depreciation | (2107362) | (3449929) | (4524868) |
| Net tax unrealized appreciation (depreciation) | $9062341 | $31137460 | $3747250 |
| Undistributed ordinary income |  |  | 23110 |
| Undistributed long-term gain |  |  |  |
| Total distributable earnings | $— | $— | $23110 |
| Other accumulated gain (loss) | (905209) | (468067) | (283641) |
| Total accumulated gain (loss) | 8157132 | $30669393 | $3486719 |
|  | **STRV** | **STXE** | **BUXX** |
| Tax cost of Investments | $719165979 | $81901883 | $325098763 |
| Gross tax unrealized appreciation | 236767833 | 24146146 | 909651 |
| Gross tax unrealized depreciation | (32734664) | (6116515) | (247865) |
| Net tax unrealized appreciation (depreciation) | $204033169 | $18029631 | $661786 |
| Undistributed ordinary income | 126481 | 644827 | 368495 |
| Undistributed long-term gain |  |  | 29034 |
| Total distributable earnings | $126481 | $644827 | $397529 |
| Other accumulated gain (loss) | (1186939) | (4843450) |  |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

---

| | | | |
|:---|:---|:---|:---|
| Total accumulated gain (loss) | $202972711 | $13831008 | $1059315 |
|  | **STXI** | **STXM** | **FTWO** |
| Tax cost of Investments | $16283703 | $15944768 | $30866186 |
| Gross tax unrealized appreciation | 3030343 | 2365591 | 5828768 |
| Gross tax unrealized depreciation | (754831) | (1169229) | (1067160) |
| Net tax unrealized appreciation (depreciation) | $2275512 | $1196362 | $4761608 |
| Undistributed ordinary income | 37038 | 1702 | 20293 |
| Undistributed long-term gain |  |  |  |
| Total distributable earnings | $37038 | $1702 | $20293 |
| Other accumulated gain (loss) | (214690) | (170475) | (367608) |
| Total accumulated gain (loss) | $2097860 | $1027589 | $4414293 |
|  | **STXK** | **STXT** | **DRLL** |
| Tax cost of Investments | $57553314 | $127251746 | $287178234 |
| Gross tax unrealized appreciation | 9488934 | 1860190 | 14676387 |
| Gross tax unrealized depreciation | (6403036) | (585771) | (39908752) |
| Net tax unrealized appreciation (depreciation) | $3085898 | $1274419 | $(25232365) |
| Undistributed ordinary income |  | 144180 |  |
| Undistributed long-term gain |  |  |  |
| Total distributable earnings | $— | $144180 | $— |
| Other accumulated gain (loss) | (3849557) | (637019) | (11053173) |
| Total accumulated gain (loss) | $(763659) | $781580 | $(36285538) |
|  | **SHOC** |  |  |
| Tax cost of Investments | $85086407 |  |  |
| Gross tax unrealized appreciation | 22413018 |  |  |
| Gross tax unrealized depreciation | (4590885) |  |  |
| Net tax unrealized appreciation (depreciation) | $17822133 |  |  |
| Undistributed ordinary income |  |  |  |
| Undistributed long-term gain |  |  |  |
| Total distributable earnings | $— |  |  |
| Other accumulated gain (loss) | (3712558) |  |  |
| Total accumulated gain (loss) | $14109575 |  |  |

---

The difference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in REITs, partnerships, passive foreign investment companies and wash sales. Under tax law, certain capital and foreign currency losses realized after October 31 and within the taxable year are deemed to arise on the first business day of each Fund's next taxable year.

For the current fiscal period, the Funds did not defer any post-October capital losses or qualified late-year losses.

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

For the current fiscal period, each Fund had the following capital loss carryforwards that do not expire:

---

| | | |
|:---|:---|:---|
| | **Unlimited Short-Term&nbsp;&nbsp;&nbsp;&nbsp;** | **Unlimited Long-Term&nbsp;&nbsp;&nbsp;&nbsp;** |
| STXD | $(538994) | $(366215) |
| STXG | (468067) |  |
| STXV | (283641) |  |
| STRV | (772809) | (414130) |
| STXE | (3821590) |  |
| BUXX |  |  |
| STXI | (184028) | (30662) |
| STXM | (170475) |  |
| FTWO | (338466) | (29151) |
| STXK | (2631049) | (1218508) |
| STXT | (218386) | (418633) |
| DRLL | (5031452) | (6021721) |
| SHOC | (3164468) | (548090) |

---

**NOTE 7 – DISTRIBUTIONS TO SHAREHOLDERS**

The tax character of distributions paid by each Fund during the current fiscal period, fiscal year ended July 31, 2024, and fiscal period ended July 31, 2023, were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Fiscal Period Ended June 30, 2025** | **Fiscal Period Ended June 30, 2025** | **Fiscal Period Ended June 30, 2025** | **Fiscal Period Ended July 31, 2024** | **Fiscal Period Ended July 31, 2023** |
| | **Long-Term Capital Gains** | **Return of Capital** | **Ordinary Income** | **Ordinary Income** | **Ordinary Income** |
| STXD | $— | $— | $602333 | $485575 | $84274 |
| STXG | 30259 |  | 590824 | 350997 | 43091 |
| STXV |  |  | 1560714 | 750769 | 102472 |
| STRV |  |  | 9265451 | 5358321 | 1419614 |
| STXE |  |  | 3932685 | 1599535 | 462914 |
| BUXX<sup>(a)</sup> |  |  | 9514662 | 4093148 |  |
| STXI<sup>(b)</sup> |  |  | 392940 |  |  |
| STXM<sup>(c)</sup> | 636 |  | 186364 | 21665 |  |
| FTWO<sup>(d)</sup> |  |  | 332147 | 76248 |  |
| STXK |  | 85083 | 895104 | 530975 | 67734 |
| STXT<sup>(a)</sup> |  |  | 5676002 | 3637215 |  |
| DRLL |  |  | 8592613 | 9743291 | 9891239 |
| SHOC |  |  | 299204 | 254625 | 137017 |

---

---

| |
|:---|
| (a) The Fund commenced operations on August 9, 2023. |
| (b) The Fund commenced operations on June 25, 2024. |
| (c) The Fund commenced operations on April 10, 2024. |
| (d) The Fund commenced operations on August 30, 2023. |

---

------

**STRIVE ETFs**

**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) June 30, 2025** 

**NOTE 8 – CREDIT FACILITY**

The Custodian has made available to STXE and another series of the Trust a $30 million secured credit facility, pursuant to a Loan Agreement ("Agreement") effective December 11, 2024, expiring on December 10, 2025, for the purposes of having cash available to satisfy redemption requests. Advances under the Agreement would be limited to the lesser of $30 million, 25% of the gross market value of the Fund, or 33.33% of the unencumbered assets of the Fund. Principal is due 45 days after the initial advance and at the maturity. Interest is payable monthly in arrears. Under the credit facility, the interest rate paid on outstanding borrowings is equal to the lender's prime rate. As of the current fiscal period, the prime rate was 7.50%. The interest paid on outstanding borrowings is paid by the Adviser. For the current fiscal period, STXE's activity under the credit facility was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Average Principal<br>Balance, when in use** | **Average Interest<br>Rate, when in use** | **Maximum Loan<br>Outstanding** | **Period Maximum Loan was<br>Outstanding** |
| $1595800 | 7.50% | $3599000 | April 3, 2025 |

---

As of the current fiscal period, STXE had no outstanding borrowings under the Agreement.

**NOTE 9 – SUBSEQUENT EVENTS**

In preparing these financial statements, management of the Funds have evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. There were no transactions that occurred during the period subsequent to the current fiscal period that materially impacted the amounts or disclosures in the Funds' financial statements.

------

![Tait.jpg](ck0001592900-20250630_g15.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Shareholders of

Strive ETFs and

**The Board of Trustees of**

**EA Series Trust**

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities of Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, Strive 500 ETF, Strive Emerging Markets Ex-China ETF, Strive Enhanced Income Short Maturity ETF, Strive International Developed Markets ETF, Strive Mid Cap ETF, Strive Natural Resources and Security ETF, Strive Small-Cap ETF, Strive Total Return Bond ETF, Strive U.S. Energy ETF and Strive U.S. Semiconductor ETF (the "Funds"), each a series of EA Series Trust (the "Trust"), including the schedules of investments, as of June 30, 2025, the related statements of operations, statements of changes in net assets, and the financial highlights for each of the periods indicated in the table below, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Funds as of June 30, 2025, the results of their operations, the changes in their net assets, and the financial highlights for the periods indicated

in the table below, in conformity with accounting principles generally accepted in the United States of America.

---

| | | | |
|:---|:---|:---|:---|
| **Individual Funds Constituting**<br>**EA Series Trust** | **Statement Of**<br>**Operations** | **Statements Of**<br>**Changes In Net Assets** | **Financial Highlights** |
| Strive 1000 Dividend Growth ETF, Strive 1000 Growth ETF, Strive 1000 Value ETF, Strive Small-Cap ETF | For the period ended June 30, 2025 and for the year ended July 31, 2024 | For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period ended July 31, 2023 | For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period November 9, 2022 (commencement of operations) to July 31, 2023 |
| Strive 500 ETF<br>Strive Emerging Markets Ex-China ETF<br>Strive Enhanced Income Short Maturity ETF, Strive Total Return Bond ETF<br>Strive International Developed Markets ETF | For the period ended June 30, 2025 and for the year ended July 31, 2024<br>For the period ended June 30, 2025 and for the year ended July 31, 2024<br>For the period ended June 30, 2025 and for the period ended July 31, 2024<br>For the period ended June 30, 2025 and for the period ended July 31, 2024 | For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period ended July 31, 2023<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period ended July 31, 2023<br>For the period ended June 30, 2025 and for the period August 9, 2023 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025 and for the period June 25, 2024 (commencement of operations) to July 31, 2024 | For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period September 14, 2022 (commencement of operations) to July 31, 2023<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period January 30, 2023 (commencement of operations) to July 31, 2023<br>For the period ended June 30, 2025 and for the period August 9, 2023 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025 and for the period June 25, 2024 (commencement of operations) to July 31, 2024 |

---

------

![Tait.jpg](ck0001592900-20250630_g15.jpg)

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

---

| | | | |
|:---|:---|:---|:---|
| <br>Strive Mid Cap ETF<br>Strive Natural Resources and Security ETF<br>Strive U.S. Energy ETF<br>Strive U.S. Semiconductor ETF | <br>For the period ended June 30, 2025 and for the period ended July 31, 2024<br>For the period ended June 30, 2025 and for the period ended July 31, 2024<br>For the period ended June 30, 2025 and for the year ended July 31, 2024<br>For the period ended June 30, 2025 and for the year ended July 31, 2024 | <br>For the period ended June 30, 2025 and for the period April 10, 2024 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025 and for the period August 30, 2023 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period ended July 31, 2023<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period ended July 31, 2023 | <br>For the period ended June 30, 2025 and for the period April 10, 2024 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025 and for the period August 30, 2023 (commencement of operations) to July 31, 2024<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period August 8, 2022 (commencement of operations) to July 31, 2023<br>For the period ended June 30, 2025, for the year ended July 31, 2024 and for the period October 5, 2022 (commencement of operations) to July 31, 2023 |

---

**Basis for Opinion**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We have served as the auditor of one or more of the funds in the Trust since 1999.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of June 30, 2025 by correspondence with the custodian and brokers or through other appropriate auditing procedures when replies from brokers were unable to be obtained. We believe that our audits provide a reasonable basis for our opinion.

![Sign.jpg](ck0001592900-20250630_g16.jpg)

**TAIT, WELLER & BAKER LLP**

**Philadelphia, Pennsylvania**

**August 28, 2025**

------

**STRIVE ETFs**

**FEDERAL TAX INFORMATION (UNAUDITED)**

For the current fiscal period, certain dividends paid by the Funds may be subject to a maximum tax rate of 23.8%, as provided for by the Tax Cuts and Jobs Act of 2017. The percentage of dividends declared from ordinary income designated as qualified dividend income were as follows:

---

| | |
|:---|:---|
| STXD | 100.00% |
| STXG | 100.00% |
| STXV | 97.25% |
| STRV | 97.22% |
| STXE | 39.44% |
| BUXX | 0.00% |
| STXI | 95.45% |
| STXM | 82.47% |
| FTWO | 100.00% |
| STXK | 82.73% |
| STXT | 0.00% |
| DRLL | 100.00% |
| SHOC | 100.00% |

---

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the current fiscal period, were as follows:

---

| | |
|:---|:---|
| STXD | 100.00% |
| STXG | 100.00% |
| STXV | 93.65% |
| STRV | 92.74% |
| STXE | 0.00% |
| BUXX | 0.00% |
| STXI | 0.00% |
| STXM | 78.91% |
| FTWO | 100.00% |
| STXK | 81.32% |
| STXT | 0.00% |
| DRLL | 100.00% |
| SHOC | 100.00% |

---

------

**STRIVE ETFs**

**FEDERAL TAX INFORMATION (UNAUDITED) (CONTINUED)**

The percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under the Internal Revenue Section 871(k)(2)(C) for the current fiscal period, were as follows:

---

| | |
|:---|:---|
| STXD | 0.00% |
| STXG | 0.00% |
| STXV | 0.00% |
| STRV | 0.00% |
| STXE | 0.64% |
| BUXX | 0.00% |
| STXI | 0.00% |
| STXM | 2.31% |
| FTWO | 0.00% |
| STXK | 0.00% |
| STXT | 0.00% |
| DRLL | 0.00% |
| SHOC | 0.00% |

---

------

**STRIVE ETFs**

**FOREIGN TAX CREDIT PASS THROUGH (UNAUDITED)**

Pursuant to Section 853 of the Internal Revenue code, the Funds designate the following amounts as foreign taxes paid for the current fiscal period. Foreign taxes paid for purposes of Section 853 may be less than actual foreign taxes paid for financial statement purposes.

---

| | | | |
|:---|:---|:---|:---|
| | **Creditable Foreign Tax Credit Paid** | **Per Share Amount** | **Portion of Ordinary Income Distribution Derived From Foreign Sourced Income** |
| STXE | $332160 | $0.10 | 99.80% |
| STXI | 57342 | 0.09 | 100.00% |

---

Foreign taxes paid or withheld should be included in taxable income with an offsetting deduction from gross income or as a credit for taxes paid to foreign governments.

Above figures may differ from those cited elsewhere in this report due to difference in the calculation of income and gains under GAAP purposes and Internal Revenue Service purposes.

Shareholders are strongly advised to consult their own tax advisers with respect to the tax consequences of their investments in the Funds.

------

**<u>Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment</u>**

**<u>Companies.</u>**

There were no matters concerning changes in and disagreements with Accountants on accounting and financial disclosures required by Item 304 of Regulation S-K.

**<u>Item 9. Proxy Disclosures for Open-End Management Investment Companies.</u>**

There were no matters submitted during the period covered by the report to a vote of shareholders.

**<u>Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management</u>**

**<u>Investment Companies</u>**

Not applicable. The Independent Trustees are paid by the Adviser out. See Note 3 to the Financial Statements under Item 7.

**<u>Item 11. Statement Regarding Basis for Approval of Investment Advisory Contracts.</u>**

The Board (the members of which are referred to as "Trustees") of the EA Series Trust (the "Trust") met in-person on June 5-6, 2025 to consider the approval of the continuation of the Advisory Agreement between the Trust, on behalf of the following series (each, a "Fund," and together, the "Funds"), and Empowered Funds, LLC dba EA Advisers (the "Adviser"):

Strive Enhanced Income Short Maturity ETF

Strive Total Return Bond ETF

Strive Natural Resources and Security ETF

Strive U.S. Energy ETF

Strive 500 ETF

Strive U.S. Semiconductor ETF

Strive 1000 Dividend Growth ETF

Strive 1000 Growth ETF

Strive Small-Cap ETF

Strive 1000 Value ETF

Strive Emerging Markets Ex-China ETF

Strive Mid-Cap ETF

The Board also considered the approval of the continuation of the Sub-Advisory Agreement among the Adviser, Strive Asset Management, LLC (the "Strive"), and the Trust, on behalf of each Fund, and the continuation of the Sub-Advisory Agreement among the Trust, Adviser, Strive, and Angel Oak Capital Advisors, LLC ("Angel Oak" and together with Strive, the "Sub-Advisers") with respect to the Strive Enhanced Income Short Maturity ETF and Strive Total Return Bond ETF (each, a "Fixed Income ETF"), each for an additional annual term. The Board also considered the approval of an interim and new Sub-Advisory Agreement among the Adviser and Sub-Advisers with respect to each Fixed Income ETF. The Board noted that the new sub-advisory agreements were needed due to the anticipated acquisition of Angel Oak by Brookfield Asset Management Ltd., which would cause the termination of the existing Sub-Advisory Agreement with Angel Oak. The Board noted that the interim sub-advisory agreement would take effect upon the closing of the acquisition of Angel Oak and the new sub-advisory agreement would take effect upon the approval by a majority of the outstanding voting securities of each Fixed Income ETF.

In accordance with Section 15(c) of the 1940 Act, the Board requested, reviewed, and considered materials furnished by the Adviser and Sub-Advisers relevant to the Board's consideration of whether to approve the continuation of the Advisory Agreement and each Sub-Advisory Agreement (together, the "Agreements"). In connection with considering the approval of the Agreements, the Trustees who are not "interested persons" of the Trust, as that term is defined in the 1940 Act (the "Independent Trustees"), met in executive session with counsel to the Trust, who provided assistance and advice. In reaching

------

the decision to approve the Agreements, the Board considered and reviewed information provided by the Adviser and Sub-Advisers at this meeting and throughout the year, including among other things information about their respective personnel, operations, financial condition, and compliance programs. The Board also reviewed the Agreements. During its review and consideration, the Board focused on and reviewed the factors it deemed relevant, including:

<u>Nature, Quality, and Extent of Services.</u> The Board was presented with and considered information concerning the nature, quality, and extent of the overall services provided by the Adviser to each Fund. In this context, the Board considered the responsibilities of the Adviser, recognizing that the Adviser had invested significant time and effort in structuring the Trust and each Fund, and arranging service providers for each Fund. In addition, the Board considered that the Adviser is responsible for providing investment advisory oversight services to each Fund, executing all Fund transactions (except for each Fixed Income ETF), monitoring compliance with each Fund's objectives, policies, and restrictions, and carrying out directives of the Board. The Board also considered the services provided by the Adviser in the oversight of the Trust's administrator, transfer agent, and custodian. In addition, the Board evaluated the integrity of each of the Adviser's and Sub-Advisers' personnel, the experience of the portfolio managers in managing assets, and the adequacy of each of the Adviser's and the Sub-Advisers' resources to perform the services provided under the Agreements. The Board also considered the Adviser's ongoing oversight responsibilities vis-à-vis the Sub-Advisers.

<u>Performance.</u> The Board compared each Fund's performance for periods ended March 31, 2025 to that of a peer group of ETFs determined by an independent consultant to the Trust to be highly suitable peers based on factors such as a fund's strategy, geographic focus, portfolio concentration, and factor analyses. The Board noted that the Adviser and the Sub-Adviser have consistently managed each Fund's portfolio in accordance with the applicable Fund's stated investment objective and strategies. The Board considered that, because each Fund had been operational for fewer than three years, its returns cover a relatively short period which may not reflect a sufficient variety of market conditions or market cycles by which to effectively judge longer-term performance. The Board also considered representations from Angel Oak that the team of professionals, including the portfolio managers, will continue to serve the Fixed Income ETFs following the acquisition.

*Strive Enhanced Income Short Maturity ETF* - The Board noted that the Fund slightly underperformed the average total return of its peer group for the one-year period and outperformed for the period since inception.

*Strive Total Return Bond ETF* – The Board noted that, for the one-year and since-inception periods, the Fund returned below-average results relative to the average of its peer group, but within the range of the peer group.

*Strive Natural Resources and Security ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year and since inception periods.

*Strive U.S. Energy ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year period but slightly underperformed for the since inception period.

*Strive 500 ETF* – The Board noted that the Fund underperformed the average total return of its peer group for the one-year period and performed roughly in line with the peer group average for the since inception period.

*Strive U.S. Semiconductor ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year and since inception periods.

*Strive 1000 Dividend Growth ETF* – The Board noted that, for the one-year and since-inception periods, the Fund's returns were below the average of its peer group, but within the range of the peer group.

*Strive 1000 Growth ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year and since inception periods.

*Strive Small-Cap ETF* – The Board noted that the Fund performed roughly in line with the peer group average for the one-year period and outperformed the average total return of its peer group for the since inception period.

*Strive 1000 Value ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year period but underperformed for the since inception period ended.

*Strive Emerging Markets Ex-China ETF* – The Board noted that the Fund outperformed the average total return of its peer group for the one-year period but underperformed for the since inception period.

------

*Strive Mid-Cap ETF* – The Board noted that, for the since inception period of less than one year, the Fund underperformed the average of its peer group but was within the range of the peer group.

<u>Comparative Fees and Expenses</u>. In considering the advisory fees and sub-advisory fees, the Board reviewed and considered the fees in light of the nature, quality, and extent of the services being provided by the Adviser and the Sub-Advisers, respectively. The Board also considered the allocation of fees between the Adviser and Strive and Strive's allocation of fees to Angel Oak. The Board compared each Fund's management fee and net expense ratio to those of a peer group of ETFs determined by an independent consultant to the Trust to be highly suitable peers based on factors such as a fund's strategy, geographic focus, portfolio concentration, and factor analyses.

*Strive Enhanced Income Short Maturity ETF* - The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive Total Return Bond ETF* - The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive Natural Resources and Security ETF* – The Board noted that the Fund's management fee and net expense ratio were below the average for the Fund's peer group.

*Strive U.S. Energy ETF* – The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive 500 ETF* – The Board noted that the Fund's management fee and net expense ratio were roughly in line with the average for the Fund's peer group.

*Strive U.S. Semiconductor ETF* – The Board noted that the Fund's management fee and net expense ratio were roughly in line the average for the Fund's peer group.

*Strive 1000 Dividend Growth ETF* – The Board noted that the Fund's management fee and net expense ratio were in line with or below the average for the Fund's peer group.

*Strive 1000 Growth ETF* – The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive Small-Cap ETF* – The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive 1000 Value ETF* – The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

*Strive Emerging Markets Ex-China ETF* – The Board noted that the Fund's management fee and net expense ratio were roughly in line with or below the average for the Fund's peer group.

*Strive Mid-Cap ETF* - The Board noted that the Fund's management fee and net expense ratio were above the average for the Fund's peer group but within the range of figures in the peer group.

The Board considered each Fund's fee arrangement in which the Adviser is responsible for paying most of a Fund's operating expenses out of its resources, noting that comparisons with a Fund's overall expense ratio may be more relevant than comparisons to management fees only

With respect to the Strive sub-advisory fee, the Board noted that it was payable solely by the Adviser. The Board considered the representations from the Adviser that it does not manage any other accounts that follow a similar strategy. As it relates to the Sub-Advisers, the Board noted that Strive charges its separately managed account clients a higher fee for a strategy similar to that of the Strive 500 ETF and Angel Oak charges its separately managed account clients a higher fee for strategies similar to that of the Fixed Income ETFs.

<u>Costs and Profitability</u>. The Board further considered information regarding the potential profits, if any, that may be realized by each of the Adviser and the Sub-Advisers in connection with providing their respective services to the Funds. The Board reviewed the profit and loss information provided by the Adviser with respect to the Funds and considered the Adviser's profitability with respect to providing investment advisory services as well as non-advisory services. The Board also reviewed the same type of information provided by the Sub-Advisers. The Board discussed the financial condition of the Sub-Advisers, noting that each Sub-Adviser has sufficient capital to maintain its commitment to the Funds for an additional

------

annual period. The Board also reviewed the costs associated with the personnel, systems, and equipment necessary to manage the Funds and to meet the regulatory and compliance requirements adopted by the SEC and other regulatory bodies.

The Board also considered other expenses of a Fund the Adviser would pay in accordance with the Advisory Agreement. The Board took into consideration that, pursuant to the Advisory Agreement, the Adviser agreed to pay all expenses incurred by each Fund except for the fees paid to the Adviser pursuant to the Advisory Agreement, payments under any distribution plan adopted pursuant to Rule 12b-1, brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing costs), the fees and expenses associated with a Fund's securities lending program, litigation expenses and other non-routine or extraordinary expenses. The Board also considered the respective financial obligations of the Adviser, as well as Strive, who serves as the sponsor of the Funds.

<u>Other Benefits</u>. The Board further considered the extent to which the Adviser or the Sub-Advisers might derive ancillary benefits from each Fund's operations. In addition, the Adviser may benefit from continued growth in the Trust by potentially negotiating better fee arrangements with key vendors serving the Funds and other series in the Trust.

<u>Economies of Scale</u>. The Board also considered whether economies of scale would be realized by each Fund as its assets grow larger, including the extent to which this is reflected in the level of fees to be charged. The Board also noted that the advisory and sub-advisory fees do not include breakpoints but concluded that it was premature to meaningfully evaluate potential economies of scale given each Fund's current assets.

<u>Conclusion</u>. No single factor was determinative of the Board's decision to approve the continuation of the Agreements for an additional annual term (or two-year term in the case of the new Sub-Advisory Agreement with Angel Oak); rather, the Board based its determination on the total mix of information available to it. Based on a consideration of all the factors in their totality, the Board, including the Independent Trustees, unanimously determined that the Agreements, including the compensation payable under each Agreement, were fair and reasonable to each Fund. The Board, including the Independent Trustees, unanimously determined that the approval of the continuation of each of the Agreements (and the commencement of an interim Sub-Advisory Agreement and the new Sub-Advisory Agreement with Angel Oak) was in the best interests of each Fund and its shareholders.

**<u>Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies</u>.**

Not applicable to open-end investment companies.

**<u>Item 13. Portfolio Managers of Closed-End Management Investment Companies</u>.**

Not applicable to open-end investment companies.

**<u>Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers</u>.**

Not applicable to open-end investment companies.

**<u>Item 15. Submission of Matters to a Vote of Security Holders.</u>**

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.

**<u>Item 16. Controls and Procedures.</u>**

(a) The Registrant's President (principal executive officer) and Treasurer (principal financial officer) have reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider.

------

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

**<u>Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>**

Not applicable to open-end investment companies.

**<u>Item 18. Changes in and Disagreements with Accountants for Open-End Management Investment</u>**

**<u>Companies.</u>**

There were no matters concerning changes in and disagreements with Accountants on accounting and financial disclosures required by Item 304 of Regulation S-K.

**<u>Item 19. Exhibits</u>.**

*(a)* (1) *Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit.* Filed herewith.

(2) *Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed.* Not Applicable.

(3) *A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)).* Filed herewith.

(4) *Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.* Not Applicable.

(5) *Change in the registrant's independent public accountant.* Not Applicable.

*(b)* *[Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](exhibit99906cert.htm)* <u>[F](exhibit99906cert.htm) [iled](exhibit99906cert.htm) [herewith.](exhibit99906cert.htm)</u>

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) | EA Series Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By (Signature and Title) | /s/ Wesley R. Gray, PhD. |
|  | Wesley R. Gray, PhD., President (principal executive officer) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: | August 29, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By (Signature and Title) | /s/ Wesley R. Gray, PhD. |
|  | Wesley R. Gray, PhD., President (principal executive officer) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: | August 29, 2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By (Signature and Title) | /s/ Sean R. Hegarty, CPA |
|  | Sean R. Hegarty, CPA, Treasurer (principal financial officer) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date: | August 29, 2025 |

---

## Exhibit 99.906

**EX-99.906 CERT**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the EA Series Trust, does hereby certify, to such officer's knowledge, that the report on Form N-CSR of the EA Series Trust for the period ended June 30, 2025 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the EA Series Trust for the stated period.

---

| | |
|:---|:---|
| /s/ Wesley R. Gray, PhD. | /s/ Sean R. Hegarty |
| Wesley R. Gray, PhD. | Sean R. Hegarty, CPA |
| President (principal executive officer) | Treasurer (principal financial officer) |
| EA Series Trust | EA Series Trust |
| Dated: August 29, 2025 | Dated: August 29, 2025 |

---

This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by the EA Series Trust for purposes of Section 18 of the Securities Exchange Act of 1934.

## Ex-99.Cert

**EX-99.CERT**

**<u>CERTIFICATIONS</u>**

I, Wesley R. Gray, PhD., certify that:

1. I have reviewed this report on Form N-CSR of EA Series Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: August 29, 2025 | /s/ Wesley R. Gray, PhD. |
| | Wesley R. Gray, PhD. |
| | President (principal executive officer) |
| | EA Series Trust |

---

------

**<u>CERTIFICATIONS</u>**

I, Sean R. Hegarty, certify that:

1. I have reviewed this report on Form N-CSR of EA Series Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: August 29, 2025 | /s/ Sean R. Hegarty |
| | Sean R. Hegarty, CPA |
| | Treasurer (principal financial officer) |
| | EA Series Trust |

---

## Ex-99.Code

**EX-99.CODE ETH**

**XIX. FINANCIAL CODE OF ETHICS FOR SENIOR EXECUTIVES** 

**Applicable Law:**

**Overview**

The reputation and integrity of the Trust and Funds are valuable assets that are vital to the Funds' success. The Trust's senior officers are responsible for conducting the Funds' business in a manner that demonstrates a commitment to the highest standards of integrity. The Funds' senior officers include the principal executive officer, the principal financial officer, and any person who performs a similar function.

The Sarbanes-Oxley Act of 2002 (the "SOX Act") imposed corporate disclosure and financial reporting reform with respect to public companies, including investment companies, to address corporate malfeasance and assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under the Act, all public companies must either have a code of ethics for their senior officers or disclose why they do not. The SOX Act was intended to foster corporate environments that encourage employees to question and report unethical and potentially illegal business practices. The Trust has chosen to adopt this Code of Ethics for Senior Executives (the "Senior Executive Code") to encourage its senior officers to act in a manner consistent with the highest principles of ethical conduct.

**Purposes Of The Code**

The purposes of this Code are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To promote honest and ethical conduct by the Trust's senior officers, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Funds file with the SEC and in other public communications made by the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To promote compliance with applicable laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To encourage the prompt internal reporting to an appropriate person of violations of this Senior Executive Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To establish accountability for adherence to this Senior Executive Code.

**Questions Regarding This Code**

The Trust CCO is designated to oversee the Trust's Code of Ethics adopted pursuant to Rule 17j-1 and shall also serve as the compliance officer for the implementation and administration of this Senior Executive Code. Senior officers should direct their questions about this Code to the Trust CCO.

**Conduct Guidelines**

The Trust has adopted the following guidelines under which senior officers must perform their official duties and conduct the business affairs of the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Ethical and honest conduct is of paramount importance</u>. The Trust's senior officers must act with honesty and integrity and avoid violations of this Senior Executive Code, including the avoidance of actual or apparent conflicts of interest with the Funds in personal and professional relationships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Senior officers must disclose material transactions or relationships</u>. The Trust's senior officers must disclose to the Trust CCO any actual or apparent conflicts of interest the senior officers may have with the Fund(s) that

------

reasonably could be expected to give rise to any violations of this Senior Executive Code. Such conflicts of interest may arise as a result of material transactions or business or personal relationships to which a senior officer may be a party. If it is not possible to disclose the matter to the Trust CCO, it should be disclosed to the Trust's general counsel or another designated person. In addition to disclosing any actual or apparent conflicts of interest in which a senior officer is personally involved, the Trust's senior officers have an obligation to report any other actual or apparent conflicts that they discover or of which they otherwise become aware. If a senior officer is unsure whether a particular fact pattern gives rise to a conflict of interest, or whether a particular transaction or relationship is "material," the senior officer should bring the matter to the attention of the Trust CCO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Standards for quality of information shared with service providers</u>. The Trust's senior officers must at all times seek to provide information to the Trust's service providers (adviser, sub-advisers, administrator, independent accountants, outside counsel, custodian, etc.) that is accurate, complete, objective, relevant, timely, and understandable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Standards for quality of information included in periodic reports</u>. The Trust's senior officers must at all times endeavor to ensure full, fair, timely, accurate, and understandable disclosure in the Funds' periodic reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Compliance with laws</u>. The Fund's senior officers must comply with the federal securities laws and other laws and rules applicable to the Funds, such as the Internal Revenue Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Standard of care</u>. The Trust's senior officers must at all times act in good faith and with due care, competence, and diligence, without misrepresenting material facts or allowing their independent judgment to be subordinated. The Trust's senior officers must conduct the affairs of the Funds in a responsible manner consistent with this Senior Executive Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Confidentiality of information</u>. The Trust's senior officers must respect and protect the confidentiality of information acquired in the course of their professional duties, except when authorized by the Trust to disclose it or where disclosure is otherwise legally mandated. The Trust's senior officers may not use confidential information acquired in the course of their work for personal advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Sharing of information and educational standards</u>. The Trust's senior officers should share information with relevant parties to keep them informed of the business affairs of the Funds, as appropriate, and maintain skills important and relevant to the Funds' needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Promote ethical conduct</u>. The Trust's senior officers should at all times proactively promote ethical behavior among peers in their work environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Standards for recordkeeping</u>. The Trust's senior officers must at all times endeavor to ensure that the Funds' financial books and records are thoroughly and accurately maintained to the best of their knowledge in a manner consistent with applicable laws and this Senior Executive Code.

**Waivers Of This Senior Executive Code**

A senior officer may request a waiver of a provision of this Senior Executive Code by submitting his or her request in writing to the Trust CCO for appropriate review and consideration. For example, if a senior officer's family member works for a service provider that helps prepare the Funds' financial statements, the senior officer may have a potential conflict of interest in reviewing those statements and should seek a waiver of this Senior Executive Code in order to review the work. The Trust CCO may consult, as necessary, with another appropriate party (such as an executive officer of the Trust, the Board, or a designated Board or Audit Committee member) in deciding whether to grant a waiver. All waivers of this Senior Executive Code must be disclosed to the Funds' shareholders to the extent required by SEC rules.

**Affirmation Of The Senior Executive Code**

Upon adoption of the Senior Executive Code, the Trust's senior officers must affirm in writing (see template form in Exhibit A to this policy) that they have received, read, and understand the Senior Executive Code, and annually thereafter must affirm that they have complied with the requirements of the Senior Executive Code. To the extent

------

necessary, the Trust CCO will provide guidance on the conduct required by this Senior Executive Code and the manner in which violations or suspected violations must be reported and waivers must be requested.

**Reporting Violations**

In the event that a senior officer discovers or in good faith suspects a violation of this Senior Executive Code, the senior officer must immediately report the violation or suspected violation to the Trust CCO. The Trust CCO may, in his or her discretion, consult with another member of the Trust's senior management or the Board in determining how to address the suspected violation. For example, a Senior Executive Code violation may occur when a periodic report or financial statement omits a material fact, or is technically accurate, but, in the view of the senior officer, is written in a way that obscures its meaning. Senior officers who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated as confidential to the extent possible.

**Violations Of The Senior Executive Code**

Dishonest or unethical conduct or conduct that is illegal will constitute a violation of this Senior Executive Code, regardless of whether this Senior Executive Code specifically refers to such conduct. A violation of this Senior Executive Code may result in disciplinary action up to and including removal as a senior officer of the Trust. A variety of laws apply to the Trust and its operations, including the 1933 Act, the 1934 Act, the ICA, state laws relating to duties owed by Trust officers, and criminal laws. The Trust will report any suspected criminal violations to the appropriate authorities, and will investigate, address and report, as appropriate, non-criminal violations.

**Duties Of The Trust CCO**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust's CCO will implement policies and procedures as necessary to implement this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust CCO will advise all senior executives of their status, present this Senior Executive Code to the senior executives, and receive and maintain in accordance with the recordkeeping protocols of the Manual, all affirmations of senior executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust CCO will receive and respond to any questions concerning the application of this Senior Executive Code, and hold informational meetings with senior executives, as necessary, to communicate the standards and requirements of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust CCO will receive, evaluate and address all actual or suspected violations of this Senior Executive Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust CCO will report to the Board, as necessary, any violations of the Senior Executive Code, and all remedial actions taken or recommended for the Board to take.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Trust CCO will review the Senior Executive Code periodically, but not less than annually, to determine the adequacy and effectiveness of this Code.

<br>