# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0000910472-25-001618
**Filing Date:** 2025-9
**Character Count:** 86916
**Document Hash:** b936d7b7c6bb9a6eb0ed4c0fc3c419cc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-001618.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0000910472-25-001618

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ultimus Managers Trust
- **CENTRAL INDEX KEY:** 0001545440

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22680
- **FILM NUMBER:** 251349653

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Westwood Salient Enhanced Energy Income ETF (Series ID: S000084179)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000248452 | Westwood Salient Enhanced Energy Income ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **MASTER LIMITED PARTNERSHIPS - 24.1% <sup>(a)</sup>** | **Shares** | **Value** |
| **Crude & Refined Products - 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delek Logistics Partners, L.P. <sup>(b)</sup> | &nbsp;&nbsp;15427 | &nbsp;&nbsp;$711339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy, L.P. <sup>(b)</sup> | &nbsp;&nbsp;45264 | &nbsp;&nbsp;785783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P. <sup>(b)</sup> | &nbsp;&nbsp;116922 | &nbsp;&nbsp;6138405 |
|  |  | &nbsp;&nbsp;7635527 |
| **Gathering & Processing - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners, L.P. <sup>(b)</sup> | &nbsp;&nbsp;86739 | &nbsp;&nbsp;3532879 |
| **Natural Gas Liquids Infrastructure - 15.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer, L.P. <sup>(b)</sup> | &nbsp;&nbsp;623552 | &nbsp;&nbsp;11248879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P. <sup>(b)</sup> | &nbsp;&nbsp;257157 | &nbsp;&nbsp;7969295 |
|  |  | &nbsp;&nbsp;19218174 |
| **Total Master Limited Partnerships** (Cost $28,381,041) | **Total Master Limited Partnerships** (Cost $28,381,041) | &nbsp;&nbsp;$30386580 |
| **MLP RELATED COMPANIES - 76.6%** | **Shares** | **Value** |
| **Crude & Refined Products - 17.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. <sup>(b)</sup> | &nbsp;&nbsp;225449 | &nbsp;&nbsp;$10210585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plains GP Holdings, L.P. - Class A <sup>(b)</sup> | &nbsp;&nbsp;295265 | &nbsp;&nbsp;5787194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Bow Corporation <sup>(b)</sup> | &nbsp;&nbsp;220199 | &nbsp;&nbsp;5782426 |
|  |  | &nbsp;&nbsp;21780205 |
| **Gathering & Processing - 22.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Corporation <sup>(b)</sup> | &nbsp;&nbsp;322667 | &nbsp;&nbsp;5920939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc. <sup>(b)</sup> | &nbsp;&nbsp;57301 | &nbsp;&nbsp;5886532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream, L.P. - Class A <sup>(b)</sup> | &nbsp;&nbsp;159579 | &nbsp;&nbsp;6946473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc. <sup>(b)</sup> | &nbsp;&nbsp;89544 | &nbsp;&nbsp;3884419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation <sup>(b)</sup> | &nbsp;&nbsp;36119 | &nbsp;&nbsp;6010563 |
|  |  | &nbsp;&nbsp;28648926 |
| **Liquefied Natural Gas - 5.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. <sup>(b)</sup> | &nbsp;&nbsp;25597 | &nbsp;&nbsp;6037821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation <sup>(b)(c)</sup> | &nbsp;&nbsp;92993 | &nbsp;&nbsp;1056400 |
|  |  | &nbsp;&nbsp;7094221 |
| **Natural Gas Liquids Infrastructure - 10.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc. <sup>(b)</sup> | &nbsp;&nbsp;86468 | &nbsp;&nbsp;7099888 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **MLP RELATED COMPANIES - 76.6% (Continued)** | **Shares** | **Value** |
| **Natural Gas Liquids Infrastructure - 10.3% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pembina Pipeline Corporation <sup>(b)</sup> | &nbsp;&nbsp;156827 | &nbsp;&nbsp;$5832396 |
|  |  | &nbsp;&nbsp;12932284 |
| **Natural Gas Pipelines - 20.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. <sup>(b)</sup> | &nbsp;&nbsp;335816 | &nbsp;&nbsp;9422997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corporation <sup>(b)</sup> | &nbsp;&nbsp;127985 | &nbsp;&nbsp;6127922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The) <sup>(b)</sup> | &nbsp;&nbsp;164133 | &nbsp;&nbsp;9839773 |
|  |  | &nbsp;&nbsp;25390692 |
| **Water - 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aris Water Solutions, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;31202 | &nbsp;&nbsp;663667 |
| **Total MLP Related Companies** (Cost $87,057,935) | **Total MLP Related Companies** (Cost $87,057,935) | &nbsp;&nbsp;$96509995 |
| **Investments at Value - 100.7%** (Cost $115,438,976) | **Investments at Value - 100.7%** (Cost $115,438,976) | &nbsp;&nbsp;$126896575 |
| **Liabilities in Excess of Other Assets - (0.7%)** | **Liabilities in Excess of Other Assets - (0.7%)** | &nbsp;&nbsp; (896310) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$126000265 |

---

<sup>(a)</sup> The security is considered a non-income producing security as any distributions received during the last 12 months (if applicable) are treated as return of capital per Generally Accepted Accounting Principles.

<sup>(b)</sup> All or a portion of the security covers a written call option. The total value of these securities as of July 31, 2025 was $114,335,356.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |  |  |
| **WRITTEN OPTION CONTRACTS** | **Strike Price** | **Contracts** | **Notional Value** | **Value of Options** |
| **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Corporation, 08/15/25 | &nbsp;&nbsp;$19 .00 | 2475 | $4541625 | &nbsp;&nbsp;&nbsp;&nbsp;$37125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Corporation, 08/15/25 | &nbsp;&nbsp;20 .00 | 68 | 124780 | &nbsp;&nbsp;&nbsp;&nbsp;170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Corporation, 09/19/25 | &nbsp;&nbsp;19 .00 | 522 | 957870 | &nbsp;&nbsp;&nbsp;&nbsp;20880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aris Water Solutions, Inc. - Class A, 08/15/25 | &nbsp;&nbsp;25 .00 | 16 | 34032 | &nbsp;&nbsp;&nbsp;&nbsp;560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aris Water Solutions, Inc. - Class A, 08/15/25 | &nbsp;&nbsp;30 .00 | 226 | 480702 | &nbsp;&nbsp;&nbsp;&nbsp;4520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aris Water Solutions, Inc. - Class A, 09/19/25 | &nbsp;&nbsp;25 .00 | 54 | 114858 | &nbsp;&nbsp;&nbsp;&nbsp;3510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc., 08/15/25 | &nbsp;&nbsp;250 .00 | 1 | 23588 | &nbsp;&nbsp;&nbsp;&nbsp;167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc., 08/15/25 | &nbsp;&nbsp;260 .00 | 207 | 4882716 | &nbsp;&nbsp;&nbsp;&nbsp;10350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc., 09/19/25 | &nbsp;&nbsp;250 .00 | 33 | 778404 | &nbsp;&nbsp;&nbsp;&nbsp;17160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc., 09/19/25 | &nbsp;&nbsp;260 .00 | 2 | 47176 | &nbsp;&nbsp;&nbsp;&nbsp;540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delek Logistics Partners, L.P., 08/15/25 | &nbsp;&nbsp;45 .00 | 113 | 521043 | &nbsp;&nbsp;&nbsp;&nbsp;19210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delek Logistics Partners, L.P., 08/15/25 | &nbsp;&nbsp;50 .00 | 1 | 4611 | &nbsp;&nbsp;&nbsp;&nbsp;10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delek Logistics Partners, L.P., 09/19/25 | &nbsp;&nbsp;50 .00 | 32 | 147552 | &nbsp;&nbsp;&nbsp;&nbsp;320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc., 08/15/25 | &nbsp;&nbsp;110 .00 | 344 | 3533912 | &nbsp;&nbsp;&nbsp;&nbsp;43000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc., 08/15/25 | &nbsp;&nbsp;115 .00 | 83 | 852659 | &nbsp;&nbsp;&nbsp;&nbsp;2075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc., 09/19/25 | &nbsp;&nbsp;110 .00 | 117 | 1201941 | &nbsp;&nbsp;&nbsp;&nbsp;11700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc., 08/15/25 | &nbsp;&nbsp;47 .50 | 1802 | 8161258 | &nbsp;&nbsp;&nbsp;&nbsp;12614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc., 09/19/25 | &nbsp;&nbsp;47 .50 | 339 | 1535331 | &nbsp;&nbsp;&nbsp;&nbsp;8475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer, L.P., 08/15/25 | &nbsp;&nbsp;18 .00 | 316 | 570064 | &nbsp;&nbsp;&nbsp;&nbsp;9164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer, L.P., 08/15/25 | &nbsp;&nbsp;19 .00 | 4452 | 8031408 | &nbsp;&nbsp;&nbsp;&nbsp;17808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer, L.P., 09/19/25 | &nbsp;&nbsp;18 .00 | 1061 | 1914044 | &nbsp;&nbsp;&nbsp;&nbsp;48806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer, L.P., 09/19/25 | &nbsp;&nbsp;19 .00 | 63 | 113652 | &nbsp;&nbsp;&nbsp;&nbsp;819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P., 08/15/25 | &nbsp;&nbsp;33 .00 | 1922 | 5956278 | &nbsp;&nbsp;&nbsp;&nbsp;3844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P., 09/19/25 | &nbsp;&nbsp;33 .00 | 520 | 1611480 | &nbsp;&nbsp;&nbsp;&nbsp;7280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy, L.P., 08/15/25 | &nbsp;&nbsp;17 .50 | 28 | 48608 | &nbsp;&nbsp;&nbsp;&nbsp;1316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy, L.P., 08/15/25 | &nbsp;&nbsp;20 .00 | 12 | 20832 | &nbsp;&nbsp;&nbsp;&nbsp;30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy, L.P., 09/19/25 | &nbsp;&nbsp;17 .50 | 14 | 24304 | &nbsp;&nbsp;&nbsp;&nbsp;1162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy, L.P., 09/19/25 | &nbsp;&nbsp;20 .00 | 376 | 652736 | &nbsp;&nbsp;&nbsp;&nbsp;4888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream, L.P. - Class A, 08/15/25 | &nbsp;&nbsp;41 .00 | 1126 | 4901478 | &nbsp;&nbsp;&nbsp;&nbsp;275870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream, L.P. - Class A, 09/19/25 | &nbsp;&nbsp;41 .00 | 49 | 213297 | &nbsp;&nbsp;&nbsp;&nbsp;14210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream, L.P. - Class A, 09/19/25 | &nbsp;&nbsp;43 .00 | 332 | 1445196 | &nbsp;&nbsp;&nbsp;&nbsp;58100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream, L.P. - Class A, 09/19/25 | &nbsp;&nbsp;46 .00 | 9 | 39177 | &nbsp;&nbsp;&nbsp;&nbsp;225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 08/15/25 | &nbsp;&nbsp;29 .00 | 17 | 47702 | &nbsp;&nbsp;&nbsp;&nbsp;323 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** |
| **WRITTEN OPTION CONTRACTS (Continued)** | **Strike Price** | **Contracts** | **Notional Value** | **Value of Options** |
| **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 08/15/25 | &nbsp;&nbsp;$30 .00 | 2600 | $7295600 | &nbsp;&nbsp;&nbsp;&nbsp;$13000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 09/19/25 | &nbsp;&nbsp;29 .00 | 250 | 701500 | &nbsp;&nbsp;&nbsp;&nbsp;14750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 09/19/25 | &nbsp;&nbsp;30 .00 | 323 | 906338 | &nbsp;&nbsp;&nbsp;&nbsp;9044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc., 08/15/25 | &nbsp;&nbsp;50 .00 | 702 | 3045276 | &nbsp;&nbsp;&nbsp;&nbsp;14040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc., 09/19/25 | &nbsp;&nbsp;45 .00 | 8 | 34704 | &nbsp;&nbsp;&nbsp;&nbsp;1176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc., 09/19/25 | &nbsp;&nbsp;50 .00 | 140 | 607320 | &nbsp;&nbsp;&nbsp;&nbsp;2800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P., 08/15/25 | &nbsp;&nbsp;55 .00 | 850 | 4462500 | &nbsp;&nbsp;&nbsp;&nbsp;5950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P., 09/19/25 | &nbsp;&nbsp;55 .00 | 254 | 1333500 | &nbsp;&nbsp;&nbsp;&nbsp;7366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation, 08/15/25 | &nbsp;&nbsp;10 .00 | 181 | 205616 | &nbsp;&nbsp;&nbsp;&nbsp;26426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation, 08/15/25 | &nbsp;&nbsp;11 .00 | 5 | 5680 | &nbsp;&nbsp;&nbsp;&nbsp;400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation, 08/15/25 | &nbsp;&nbsp;13 .00 | 42 | 47712 | &nbsp;&nbsp;&nbsp;&nbsp;630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation, 09/19/25 | &nbsp;&nbsp;12 .00 | 556 | 631616 | &nbsp;&nbsp;&nbsp;&nbsp;38920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextDecade Corporation, 09/19/25 | &nbsp;&nbsp;13 .00 | 94 | 106784 | &nbsp;&nbsp;&nbsp;&nbsp;3760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 08/15/25 | &nbsp;&nbsp;85 .00 | 44 | 361284 | &nbsp;&nbsp;&nbsp;&nbsp;3608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 08/15/25 | &nbsp;&nbsp;90 .00 | 628 | 5156508 | &nbsp;&nbsp;&nbsp;&nbsp;7536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 09/19/25 | &nbsp;&nbsp;85 .00 | 145 | 1190595 | &nbsp;&nbsp;&nbsp;&nbsp;29000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 09/19/25 | &nbsp;&nbsp;90 .00 | 4 | 32844 | &nbsp;&nbsp;&nbsp;&nbsp;328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pembina Pipeline Corporation, 08/15/25 | &nbsp;&nbsp;40 .00 | 1148 | 4269412 | &nbsp;&nbsp;&nbsp;&nbsp;11480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pembina Pipeline Corporation, 09/19/25 | &nbsp;&nbsp;40 .00 | 341 | 1268179 | &nbsp;&nbsp;&nbsp;&nbsp;5115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plains GP Holdings, L.P. - Class A, 08/15/25 | &nbsp;&nbsp;20 .00 | 353 | 691880 | &nbsp;&nbsp;&nbsp;&nbsp;8119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plains GP Holdings, L.P. - Class A, 08/15/25 | &nbsp;&nbsp;21 .00 | 75 | 147000 | &nbsp;&nbsp;&nbsp;&nbsp;600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plains GP Holdings, L.P. - Class A, 09/19/25 | &nbsp;&nbsp;21 .00 | 2377 | 4658920 | &nbsp;&nbsp;&nbsp;&nbsp;26147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Bow Corporation, 08/15/25 | &nbsp;&nbsp;30 .00 | 1 | 2626 | &nbsp;&nbsp;&nbsp;&nbsp;5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 08/15/25 | &nbsp;&nbsp;180 .00 | 262 | 4359942 | &nbsp;&nbsp;&nbsp;&nbsp;34060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 08/15/25 | &nbsp;&nbsp;185 .00 | 18 | 299538 | &nbsp;&nbsp;&nbsp;&nbsp;990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 09/19/25 | &nbsp;&nbsp;175 .00 | 4 | 66564 | &nbsp;&nbsp;&nbsp;&nbsp;1860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 09/19/25 | &nbsp;&nbsp;180 .00 | 57 | 948537 | &nbsp;&nbsp;&nbsp;&nbsp;21660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corporation, 08/15/25 | &nbsp;&nbsp;50 .00 | 911 | 4361868 | &nbsp;&nbsp;&nbsp;&nbsp;15487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corporation, 08/15/25 | &nbsp;&nbsp;52 .50 | 89 | 426132 | &nbsp;&nbsp;&nbsp;&nbsp;2893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corporation, 09/19/25 | &nbsp;&nbsp;50 .00 | 19 | 90972 | &nbsp;&nbsp;&nbsp;&nbsp;1159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corporation, 09/19/25 | &nbsp;&nbsp;52 .50 | 196 | 938448 | &nbsp;&nbsp;&nbsp;&nbsp;3920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners, L.P., 08/15/25 | &nbsp;&nbsp;41 .00 | 204 | 830892 | &nbsp;&nbsp;&nbsp;&nbsp;6936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners, L.P., 08/15/25 | &nbsp;&nbsp;42 .00 | 40 | 162920 | &nbsp;&nbsp;&nbsp;&nbsp;600 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** | **WESTWOOD SALIENT ENHANCED MIDSTREAM INCOME ETF** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** |
| **WRITTEN OPTION CONTRACTS (Continued)** | **Strike Price** | **Contracts** | **Notional Value** | **Value of Options** |
| **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners, L.P., 09/19/25 | &nbsp;&nbsp;$42 .00 | 118 | $480614 | &nbsp;&nbsp;&nbsp;&nbsp;$4366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners, L.P., 09/19/25 | &nbsp;&nbsp;43 .00 | 462 | 1881726 | &nbsp;&nbsp;&nbsp;&nbsp;8316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The), 08/15/25 | &nbsp;&nbsp;65 .00 | 1277 | 7655615 | &nbsp;&nbsp;&nbsp;&nbsp;26817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The), 09/19/25 | &nbsp;&nbsp;65 .00 | 282 | 1690590 | &nbsp;&nbsp;&nbsp;&nbsp;18330 |
| **Total Written Option Contracts** (Premiums $1,194,211) | **Total Written Option Contracts** (Premiums $1,194,211) |  | $114892066 | &nbsp;&nbsp;&nbsp;&nbsp;$1013825 |
| The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $82,240,202. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $82,240,202. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $82,240,202. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $82,240,202. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $82,240,202. |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **MLP RELATED COMPANIES - 100.7%** | **Shares** | **Value** |
| **Exploration & Production - 64.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation <sup>(a)</sup> | &nbsp;&nbsp;7005 | &nbsp;&nbsp;$135126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation <sup>(a)</sup> | &nbsp;&nbsp;21260 | &nbsp;&nbsp;3223878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips <sup>(a)</sup> | &nbsp;&nbsp;12531 | &nbsp;&nbsp;1194705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. <sup>(a)</sup> | &nbsp;&nbsp;10946 | &nbsp;&nbsp;266973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation <sup>(a)</sup> | &nbsp;&nbsp;8634 | &nbsp;&nbsp;286821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3986 | &nbsp;&nbsp;592559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc. <sup>(a)</sup> | &nbsp;&nbsp;6930 | &nbsp;&nbsp;831739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT Corporation <sup>(a)</sup> | &nbsp;&nbsp;8840 | &nbsp;&nbsp;475150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand Energy Corporation <sup>(a)</sup> | &nbsp;&nbsp;3056 | &nbsp;&nbsp;320208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil Corporation <sup>(a)</sup> | &nbsp;&nbsp;34284 | &nbsp;&nbsp;3827466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation <sup>(a)</sup> | &nbsp;&nbsp;11261 | &nbsp;&nbsp;494808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Pacific Land Corporation <sup>(a)</sup> | &nbsp;&nbsp;222 | &nbsp;&nbsp;214925 |
|  |  | &nbsp;&nbsp;11864358 |
| **Gathering & Processing - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation <sup>(a)</sup> | &nbsp;&nbsp;3087 | &nbsp;&nbsp;513708 |
| **Natural Gas Liquids Infrastructure - 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc. <sup>(a)</sup> | &nbsp;&nbsp;8560 | &nbsp;&nbsp;702862 |
| **Natural Gas Pipelines - 9.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. <sup>(a)</sup> | &nbsp;&nbsp;28065 | &nbsp;&nbsp;787504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The) <sup>(a)</sup> | &nbsp;&nbsp;17396 | &nbsp;&nbsp;1042890 |
|  |  | &nbsp;&nbsp;1830394 |
| **Oilfield Services & Equipment - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baker Hughes Company <sup>(a)</sup> | &nbsp;&nbsp;14170 | &nbsp;&nbsp;638358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company <sup>(a)</sup> | &nbsp;&nbsp;12910 | &nbsp;&nbsp;289184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd. <sup>(a)</sup> | &nbsp;&nbsp;19680 | &nbsp;&nbsp;665184 |
|  |  | &nbsp;&nbsp;1592726 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **MLP RELATED COMPANIES - 100.7% (Continued)** | **Shares** | **Value** |
| **Refining - 11.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon Petroleum Corporation <sup>(a)</sup> | &nbsp;&nbsp;4264 | &nbsp;&nbsp;$725690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66 <sup>(a)</sup> | &nbsp;&nbsp;5598 | &nbsp;&nbsp;691801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy Corporation <sup>(a)</sup> | &nbsp;&nbsp;4580 | &nbsp;&nbsp;628880 |
|  |  | &nbsp;&nbsp;2046371 |
| **Investments at Value - 100.7%** (Cost $18,652,800) | **Investments at Value - 100.7%** (Cost $18,652,800) | &nbsp;&nbsp;$18550419 |
| **Liabilities in Excess of Other Assets - (0.7%)** | **Liabilities in Excess of Other Assets - (0.7%)** | &nbsp;&nbsp; (125393) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$18425026 |

---

<sup>(a)</sup> All or a portion of the security covers a written call option. The total value of securities as of July 31, 2025 was $18,207,681.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |  |  |
| **WRITTEN OPTION CONTRACTS** | **Strike Price** | **Contracts** | **Notional Value** | **Value of Options** |
| **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** | **Call Option Contracts** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation, 08/15/25 | &nbsp;&nbsp;$20 .00 | 5 | $9645 | &nbsp;&nbsp;&nbsp;&nbsp;$250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation, 08/15/25 | &nbsp;&nbsp;22 .50 | 57 | 109953 | &nbsp;&nbsp;&nbsp;&nbsp;513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Corporation, 09/19/25 | &nbsp;&nbsp;20 .00 | 4 | 7716 | &nbsp;&nbsp;&nbsp;&nbsp;420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baker Hughes Company, 08/15/25 | &nbsp;&nbsp;42 .00 | 123 | 554115 | &nbsp;&nbsp;&nbsp;&nbsp;40590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baker Hughes Company, 09/19/25 | &nbsp;&nbsp;43 .00 | 11 | 49555 | &nbsp;&nbsp;&nbsp;&nbsp;3454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation, 08/15/25 | &nbsp;&nbsp;155 .00 | 3 | 46402 | &nbsp;&nbsp;&nbsp;&nbsp;1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation, 08/15/25 | &nbsp;&nbsp;160 .00 | 156 | 2365584 | &nbsp;&nbsp;&nbsp;&nbsp;9672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation, 08/15/25 | &nbsp;&nbsp;165 .00 | 6 | 90984 | &nbsp;&nbsp;&nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation, 09/19/25 | &nbsp;&nbsp;155 .00 | 10 | 151640 | &nbsp;&nbsp;&nbsp;&nbsp;3100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation, 09/19/25 | &nbsp;&nbsp;160 .00 | 23 | 348772 | &nbsp;&nbsp;&nbsp;&nbsp;3680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips, 08/15/25 | &nbsp;&nbsp;100 .00 | 109 | 1039206 | &nbsp;&nbsp;&nbsp;&nbsp;10028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips, 09/19/25 | &nbsp;&nbsp;100 .00 | 10 | 95340 | &nbsp;&nbsp;&nbsp;&nbsp;2160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc., 08/15/25 | &nbsp;&nbsp;28 .00 | 95 | 231705 | &nbsp;&nbsp;&nbsp;&nbsp;760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc., 09/19/25 | &nbsp;&nbsp;26 .00 | 8 | 19512 | &nbsp;&nbsp;&nbsp;&nbsp;368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation, 08/01/25 | &nbsp;&nbsp;37 .00 | 2 | 6644 | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation, 08/15/25 | &nbsp;&nbsp;35 .00 | 73 | 242506 | &nbsp;&nbsp;&nbsp;&nbsp;3650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Devon Energy Corporation, 09/19/25 | &nbsp;&nbsp;35 .00 | 7 | 23254 | &nbsp;&nbsp;&nbsp;&nbsp;756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc., 08/15/25 | &nbsp;&nbsp;165 .00 | 34 | 505444 | &nbsp;&nbsp;&nbsp;&nbsp;2108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc., 09/19/25 | &nbsp;&nbsp;150 .00 | 2 | 29732 | &nbsp;&nbsp;&nbsp;&nbsp;1460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc., 09/19/25 | &nbsp;&nbsp;155 .00 | 1 | 14866 | &nbsp;&nbsp;&nbsp;&nbsp;520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc., 08/15/25 | &nbsp;&nbsp;130 .00 | 60 | 720120 | &nbsp;&nbsp;&nbsp;&nbsp;2850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc., 09/19/25 | &nbsp;&nbsp;125 .00 | 5 | 60010 | &nbsp;&nbsp;&nbsp;&nbsp;1600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT Corporation, 08/15/25 | &nbsp;&nbsp;65 .00 | 76 | 408500 | &nbsp;&nbsp;&nbsp;&nbsp;532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT Corporation, 09/19/25 | &nbsp;&nbsp;60 .00 | 7 | 37625 | &nbsp;&nbsp;&nbsp;&nbsp;595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand Energy Corporation, 09/19/25 | &nbsp;&nbsp;110 .00 | 29 | 303862 | &nbsp;&nbsp;&nbsp;&nbsp;5655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil Corporation, 08/15/25 | &nbsp;&nbsp;120 .00 | 309 | 3449676 | &nbsp;&nbsp;&nbsp;&nbsp;7725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil Corporation, 09/19/25 | &nbsp;&nbsp;115 .00 | 29 | 323756 | &nbsp;&nbsp;&nbsp;&nbsp;6525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company, 08/15/25 | &nbsp;&nbsp;23 .00 | 10 | 22400 | &nbsp;&nbsp;&nbsp;&nbsp;410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company, 08/15/25 | &nbsp;&nbsp;24 .00 | 102 | 228480 | &nbsp;&nbsp;&nbsp;&nbsp;1734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company, 09/19/25 | &nbsp;&nbsp;23 .00 | 10 | 22400 | &nbsp;&nbsp;&nbsp;&nbsp;870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 08/15/25 | &nbsp;&nbsp;30 .00 | 243 | 681858 | &nbsp;&nbsp;&nbsp;&nbsp;1215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc., 09/19/25 | &nbsp;&nbsp;30 .00 | 23 | 64538 | &nbsp;&nbsp;&nbsp;&nbsp;644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon Petroleum Corporation, 08/15/25 | &nbsp;&nbsp;180 .00 | 39 | 663741 | &nbsp;&nbsp;&nbsp;&nbsp;5109 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** | **WESTWOOD SALIENT ENHANCED ENERGY INCOME ETF** |
| **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** | **SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Continued)** |
| **WRITTEN OPTION CONTRACTS (Continued)** | **Strike Price** | **Contracts** | **Notional Value** | **Value of Options** |
| **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** | **Call Option Contracts (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marathon Petroleum Corporation, 09/19/25 | &nbsp;&nbsp;$185 .00 | 1 | $17019 | &nbsp;&nbsp;&nbsp;&nbsp;$220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation, 08/15/25 | &nbsp;&nbsp;47 .50 | 103 | 452582 | &nbsp;&nbsp;&nbsp;&nbsp;4017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation, 09/19/25 | &nbsp;&nbsp;47 .50 | 3 | 13182 | &nbsp;&nbsp;&nbsp;&nbsp;279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 08/15/25 | &nbsp;&nbsp;90 .00 | 74 | 607614 | &nbsp;&nbsp;&nbsp;&nbsp;888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 09/19/25 | &nbsp;&nbsp;85 .00 | 7 | 57477 | &nbsp;&nbsp;&nbsp;&nbsp;1400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66, 08/15/25 | &nbsp;&nbsp;130 .00 | 47 | 580826 | &nbsp;&nbsp;&nbsp;&nbsp;3760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66, 08/15/25 | &nbsp;&nbsp;135 .00 | 1 | 12358 | &nbsp;&nbsp;&nbsp;&nbsp;21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66, 09/19/25 | &nbsp;&nbsp;130 .00 | 3 | 37074 | &nbsp;&nbsp;&nbsp;&nbsp;738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillips 66, 09/19/25 | &nbsp;&nbsp;135 .00 | 2 | 24716 | &nbsp;&nbsp;&nbsp;&nbsp;260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd., 08/15/25 | &nbsp;&nbsp;37 .50 | 171 | 577980 | &nbsp;&nbsp;&nbsp;&nbsp;1197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd., 09/19/25 | &nbsp;&nbsp;37 .50 | 15 | 50700 | &nbsp;&nbsp;&nbsp;&nbsp;570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 08/15/25 | &nbsp;&nbsp;180 .00 | 26 | 432666 | &nbsp;&nbsp;&nbsp;&nbsp;3380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corporation, 09/19/25 | &nbsp;&nbsp;180 .00 | 3 | 49923 | &nbsp;&nbsp;&nbsp;&nbsp;1140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Pacific Land Corporation, 08/15/25 | &nbsp;&nbsp;1200 .00 | 2 | 193626 | &nbsp;&nbsp;&nbsp;&nbsp;350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy Corporation, 08/15/25 | &nbsp;&nbsp;150 .00 | 39 | 535509 | &nbsp;&nbsp;&nbsp;&nbsp;1326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy Corporation, 09/19/25 | &nbsp;&nbsp;150 .00 | 3 | 41193 | &nbsp;&nbsp;&nbsp;&nbsp;570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy Corporation, 09/19/25 | &nbsp;&nbsp;160 .00 | 1 | 13731 | &nbsp;&nbsp;&nbsp;&nbsp;64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The), 08/15/25 | &nbsp;&nbsp;65 .00 | 151 | 905245 | &nbsp;&nbsp;&nbsp;&nbsp;3171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The), 09/19/25 | &nbsp;&nbsp;65 .00 | 14 | 83930 | &nbsp;&nbsp;&nbsp;&nbsp;910 |
| **Total Written Option Contracts** (Premiums $344,296) | **Total Written Option Contracts** (Premiums $344,296) |  | $17616892 | &nbsp;&nbsp;&nbsp;&nbsp;$144514 |
| The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $15,346,466. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $15,346,466. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $15,346,466. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $15,346,466. | The average monthly notional value of written option contracts during the nine months ended July 31, 2025 was $15,346,466. |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 100.0%** | **Shares** | **Value** |
| **Australia - 0.1%** | **Australia - 0.1%** | **Australia - 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coles Group Ltd. | &nbsp;&nbsp;52 | &nbsp;&nbsp;$693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Woolworths Group Ltd. | &nbsp;&nbsp;83 | &nbsp;&nbsp;1681 |
|  |  | &nbsp;&nbsp;2374 |
| **Austria - 0.1%** | **Austria - 0.1%** | **Austria - 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verbund AG | &nbsp;&nbsp;25 | &nbsp;&nbsp;1865 |
| **Bermuda - 0.0% <sup>(a)</sup>** | **Bermuda - 0.0% <sup>(a)</sup>** | **Bermuda - 0.0% <sup>(a)</sup>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Everest Group Ltd. | &nbsp;&nbsp;1 | &nbsp;&nbsp;336 |
| **Brazil - 0.1%** | **Brazil - 0.1%** | **Brazil - 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embraer S.A. - ADR | &nbsp;&nbsp;39 | &nbsp;&nbsp;2246 |
| **Canada - 5.3%** | **Canada - 5.3%** | **Canada - 5.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agnico Eagle Mines Ltd. | &nbsp;&nbsp;81 | &nbsp;&nbsp;10056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;29 | &nbsp;&nbsp;1942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian National Railway Company | &nbsp;&nbsp;258 | &nbsp;&nbsp;24091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CGI, Inc. | &nbsp;&nbsp;22 | &nbsp;&nbsp;2121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp;7 | &nbsp;&nbsp;24149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollarama, Inc. | &nbsp;&nbsp;68 | &nbsp;&nbsp;9294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;3 | &nbsp;&nbsp;5306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortis, Inc. | &nbsp;&nbsp;362 | &nbsp;&nbsp;17713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hydro One Ltd. | &nbsp;&nbsp;176 | &nbsp;&nbsp;6224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Metro, Inc. | &nbsp;&nbsp;97 | &nbsp;&nbsp;7417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutrien Ltd. | &nbsp;&nbsp;154 | &nbsp;&nbsp;9137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RB Global, Inc. | &nbsp;&nbsp;60 | &nbsp;&nbsp;6497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shopify, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;37 | &nbsp;&nbsp;4523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sun Life Financial, Inc. | &nbsp;&nbsp;112 | &nbsp;&nbsp;6829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teck Resources Ltd. - Class B | &nbsp;&nbsp;261 | &nbsp;&nbsp;8463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Connections, Inc. | &nbsp;&nbsp;15 | &nbsp;&nbsp;2801 |
|  |  | &nbsp;&nbsp;146563 |
| **Cayman Islands - 0.2%** | **Cayman Islands - 0.2%** | **Cayman Islands - 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NU Holdings Ltd. - Class A <sup>(b)</sup> | &nbsp;&nbsp;412 | &nbsp;&nbsp;5035 |
| **Denmark - 0.7%** | **Denmark - 0.7%** | **Denmark - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - Class B | &nbsp;&nbsp;277 | &nbsp;&nbsp;13320 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **Denmark - 0.7% (Continued)** | **Denmark - 0.7% (Continued)** | **Denmark - 0.7% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orsted A/S <sup>(b)</sup> | &nbsp;&nbsp;117 | &nbsp;&nbsp;$5515 |
|  |  | &nbsp;&nbsp;18835 |
| **France - 3.0%** | **France - 3.0%** | **France - 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Liquide S.A. | &nbsp;&nbsp;248 | &nbsp;&nbsp;48932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danone S.A. | &nbsp;&nbsp;279 | &nbsp;&nbsp;22899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legrand S.A. | &nbsp;&nbsp;42 | &nbsp;&nbsp;6232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;12 | &nbsp;&nbsp;3127 |
|  |  | &nbsp;&nbsp;81190 |
| **Germany - 1.0%** | **Germany - 1.0%** | **Germany - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;377 | &nbsp;&nbsp;6868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTU Aero Engines AG | &nbsp;&nbsp;42 | &nbsp;&nbsp;18138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Symrise AG | &nbsp;&nbsp;29 | &nbsp;&nbsp;2632 |
|  |  | &nbsp;&nbsp;27638 |
| **Ireland - 0.3%** | **Ireland - 0.3%** | **Ireland - 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegion plc | &nbsp;&nbsp;31 | &nbsp;&nbsp;5143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Linde plc | &nbsp;&nbsp;3 | &nbsp;&nbsp;1381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity plc | &nbsp;&nbsp;14 | &nbsp;&nbsp;2881 |
|  |  | &nbsp;&nbsp;9405 |
| **Japan - 3.0%** | **Japan - 3.0%** | **Japan - 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aeon Company Ltd. | &nbsp;&nbsp;300 | &nbsp;&nbsp;9615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astellas Pharma, Inc. | &nbsp;&nbsp;100 | &nbsp;&nbsp;1047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Daiichi Sankyo Company Ltd. | &nbsp;&nbsp;600 | &nbsp;&nbsp;14801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eisai Company Ltd. | &nbsp;&nbsp;200 | &nbsp;&nbsp;5667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corporation | &nbsp;&nbsp;400 | &nbsp;&nbsp;8372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kao Corporation | &nbsp;&nbsp;100 | &nbsp;&nbsp;4516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kikkoman Corporation | &nbsp;&nbsp;300 | &nbsp;&nbsp;2634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;1200 | &nbsp;&nbsp;16795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | &nbsp;&nbsp;400 | &nbsp;&nbsp;3685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Company Ltd. | &nbsp;&nbsp;100 | &nbsp;&nbsp;2915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sompo Holdings, Inc. | &nbsp;&nbsp;200 | &nbsp;&nbsp;5931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOPPAN Holdings, Inc. | &nbsp;&nbsp;100 | &nbsp;&nbsp;2714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unicharm Corporation | &nbsp;&nbsp;700 | &nbsp;&nbsp;4856 |
|  |  | &nbsp;&nbsp;83548 |
| **Netherlands - 0.2%** | **Netherlands - 0.2%** | **Netherlands - 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASML Holding N.V. | &nbsp;&nbsp;8 | &nbsp;&nbsp;5600 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **Norway - 0.6%** | **Norway - 0.6%** | **Norway - 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;583 | &nbsp;&nbsp;$15096 |
| **Portugal - 0.1%** | **Portugal - 0.1%** | **Portugal - 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EDP S.A. | &nbsp;&nbsp;845 | &nbsp;&nbsp;3653 |
| **Spain - 0.6%** | **Spain - 0.6%** | **Spain - 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iberdrola S.A. | &nbsp;&nbsp;984 | &nbsp;&nbsp;17252 |
| **Switzerland - 1.0%** | **Switzerland - 1.0%** | **Switzerland - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amrize Ltd. <sup>(b)</sup> | &nbsp;&nbsp;75 | &nbsp;&nbsp;3791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;75 | &nbsp;&nbsp;6000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nestle S.A. | &nbsp;&nbsp;195 | &nbsp;&nbsp;17069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sika AG | &nbsp;&nbsp;8 | &nbsp;&nbsp;1897 |
|  |  | &nbsp;&nbsp;28757 |
| **Taiwan Province Of China - 0.3%** | **Taiwan Province Of China - 0.3%** | **Taiwan Province Of China - 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Company Ltd. - ADR | &nbsp;&nbsp;29 | &nbsp;&nbsp;7007 |
| **United Kingdom - 3.0%** | **United Kingdom - 3.0%** | **United Kingdom - 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3i Group plc | &nbsp;&nbsp;261 | &nbsp;&nbsp;14308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ashtead Group plc | &nbsp;&nbsp;88 | &nbsp;&nbsp;5902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays plc | &nbsp;&nbsp;1554 | &nbsp;&nbsp;7620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP plc | &nbsp;&nbsp;4496 | &nbsp;&nbsp;24033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners plc | &nbsp;&nbsp;109 | &nbsp;&nbsp;10564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GSK plc | &nbsp;&nbsp;256 | &nbsp;&nbsp;4794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haleon plc | &nbsp;&nbsp;1038 | &nbsp;&nbsp;4928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Melrose Industries plc | &nbsp;&nbsp;374 | &nbsp;&nbsp;2530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sage Group plc (The) | &nbsp;&nbsp;415 | &nbsp;&nbsp;6686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unilever plc | &nbsp;&nbsp;12 | &nbsp;&nbsp;699 |
|  |  | &nbsp;&nbsp;82064 |
| **United States - 80.4%** | **United States - 80.4%** | **United States - 80.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;131 | &nbsp;&nbsp;24762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. <sup>(b)</sup> | &nbsp;&nbsp;245 | &nbsp;&nbsp;43196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AECOM | &nbsp;&nbsp;27 | &nbsp;&nbsp;3044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airbnb, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;130 | &nbsp;&nbsp;17213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp;274 | &nbsp;&nbsp;52581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class C | &nbsp;&nbsp;249 | &nbsp;&nbsp;48022 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(b)</sup> | &nbsp;&nbsp;491 | &nbsp;&nbsp;$114948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Company | &nbsp;&nbsp;111 | &nbsp;&nbsp;33223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;321 | &nbsp;&nbsp;24920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;20 | &nbsp;&nbsp;10364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;40 | &nbsp;&nbsp;7394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corporation - Class A | &nbsp;&nbsp;335 | &nbsp;&nbsp;35681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;424 | &nbsp;&nbsp;88009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;90 | &nbsp;&nbsp;16205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autodesk, Inc. <sup>(b)</sup> | &nbsp;&nbsp;47 | &nbsp;&nbsp;14246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;53 | &nbsp;&nbsp;9873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Axon Enterprise, Inc. <sup>(b)</sup> | &nbsp;&nbsp;7 | &nbsp;&nbsp;5288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corporation | &nbsp;&nbsp;1356 | &nbsp;&nbsp;64098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of New York Mellon Corporation (The) | &nbsp;&nbsp;352 | &nbsp;&nbsp;35710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bentley Systems, Inc. - Class B | &nbsp;&nbsp;117 | &nbsp;&nbsp;6784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc. <sup>(b)</sup> | &nbsp;&nbsp;107 | &nbsp;&nbsp;6190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific Corporation <sup>(b)</sup> | &nbsp;&nbsp;224 | &nbsp;&nbsp;23502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;187 | &nbsp;&nbsp;54922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. <sup>(b)</sup> | &nbsp;&nbsp;52 | &nbsp;&nbsp;18958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;14 | &nbsp;&nbsp;1529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;14 | &nbsp;&nbsp;4005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc. <sup>(b)</sup> | &nbsp;&nbsp;223 | &nbsp;&nbsp;9562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Church & Dwight Company, Inc. | &nbsp;&nbsp;31 | &nbsp;&nbsp;2907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cincinnati Financial Corporation | &nbsp;&nbsp;18 | &nbsp;&nbsp;2655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cintas Corporation | &nbsp;&nbsp;5 | &nbsp;&nbsp;1113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;436 | &nbsp;&nbsp;29683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;17 | &nbsp;&nbsp;811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CMS Energy Corporation | &nbsp;&nbsp;94 | &nbsp;&nbsp;6937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola Company (The) | &nbsp;&nbsp;51 | &nbsp;&nbsp;3462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colgate-Palmolive Company | &nbsp;&nbsp;182 | &nbsp;&nbsp;15261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;80 | &nbsp;&nbsp;8280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Energy Corporation | &nbsp;&nbsp;10 | &nbsp;&nbsp;3478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Copart, Inc. <sup>(b)</sup> | &nbsp;&nbsp;214 | &nbsp;&nbsp;9701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;45 | &nbsp;&nbsp;3246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale Corporation | &nbsp;&nbsp;23 | &nbsp;&nbsp;21611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;310 | &nbsp;&nbsp;7561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;22 | &nbsp;&nbsp;10001 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;120 | &nbsp;&nbsp;$12611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Company | &nbsp;&nbsp;41 | &nbsp;&nbsp;21498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;26 | &nbsp;&nbsp;3865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;27 | &nbsp;&nbsp;4764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar Tree, Inc. <sup>(b)</sup> | &nbsp;&nbsp;110 | &nbsp;&nbsp;12491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DoorDash, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;5 | &nbsp;&nbsp;1251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dover Corporation | &nbsp;&nbsp;110 | &nbsp;&nbsp;19925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dynatrace, Inc. <sup>(b)</sup> | &nbsp;&nbsp;131 | &nbsp;&nbsp;6892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;37 | &nbsp;&nbsp;3709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences Corporation <sup>(b)</sup> | &nbsp;&nbsp;128 | &nbsp;&nbsp;10152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;5 | &nbsp;&nbsp;1415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Company | &nbsp;&nbsp;54 | &nbsp;&nbsp;39964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;13 | &nbsp;&nbsp;8157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;17 | &nbsp;&nbsp;13348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;245 | &nbsp;&nbsp;12581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;22 | &nbsp;&nbsp;5724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exelon Corporation | &nbsp;&nbsp;207 | &nbsp;&nbsp;9303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;32 | &nbsp;&nbsp;4300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair Isaac Corporation <sup>(b)</sup> | &nbsp;&nbsp;7 | &nbsp;&nbsp;10057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;166 | &nbsp;&nbsp;6901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortinet, Inc. <sup>(b)</sup> | &nbsp;&nbsp;24 | &nbsp;&nbsp;2398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;50 | &nbsp;&nbsp;13554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Mills, Inc. | &nbsp;&nbsp;131 | &nbsp;&nbsp;6416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;77 | &nbsp;&nbsp;55717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graco, Inc. | &nbsp;&nbsp;22 | &nbsp;&nbsp;1848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. (The) | &nbsp;&nbsp;55 | &nbsp;&nbsp;6841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hershey Company (The) | &nbsp;&nbsp;25 | &nbsp;&nbsp;4653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp;48 | &nbsp;&nbsp;17640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;88 | &nbsp;&nbsp;22526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illumina, Inc. <sup>(b)</sup> | &nbsp;&nbsp;9 | &nbsp;&nbsp;924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;88 | &nbsp;&nbsp;16265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Business Machines Corporation | &nbsp;&nbsp;38 | &nbsp;&nbsp;9620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(b)</sup> | &nbsp;&nbsp;7 | &nbsp;&nbsp;3368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;183 | &nbsp;&nbsp;30147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;99 | &nbsp;&nbsp;29328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. <sup>(b)</sup> | &nbsp;&nbsp;34 | &nbsp;&nbsp;5573 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimberly-Clark Corporation | &nbsp;&nbsp;83 | &nbsp;&nbsp;$10343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimco Realty Corporation | &nbsp;&nbsp;139 | &nbsp;&nbsp;2951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KLA Corporation | &nbsp;&nbsp;12 | &nbsp;&nbsp;10548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lennox International, Inc. | &nbsp;&nbsp;4 | &nbsp;&nbsp;2436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loews Corporation | &nbsp;&nbsp;23 | &nbsp;&nbsp;2082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;35 | &nbsp;&nbsp;7825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp;18 | &nbsp;&nbsp;7123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc. <sup>(b)</sup> | &nbsp;&nbsp;1 | &nbsp;&nbsp;201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;12 | &nbsp;&nbsp;6899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp;95 | &nbsp;&nbsp;73477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;254 | &nbsp;&nbsp;135508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mondelez International, Inc. - Class A | &nbsp;&nbsp;184 | &nbsp;&nbsp;11904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;52 | &nbsp;&nbsp;7408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;150 | &nbsp;&nbsp;15620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix, Inc. <sup>(b)</sup> | &nbsp;&nbsp;29 | &nbsp;&nbsp;33623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NiSource, Inc. | &nbsp;&nbsp;23 | &nbsp;&nbsp;976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nordson Corporation | &nbsp;&nbsp;7 | &nbsp;&nbsp;1499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;843 | &nbsp;&nbsp;149944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation | &nbsp;&nbsp;60 | &nbsp;&nbsp;2636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation | &nbsp;&nbsp;21 | &nbsp;&nbsp;5329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;329 | &nbsp;&nbsp;45376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;95 | &nbsp;&nbsp;10022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Procter & Gamble Company (The) | &nbsp;&nbsp;250 | &nbsp;&nbsp;37618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;97 | &nbsp;&nbsp;10047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTC, Inc. <sup>(b)</sup> | &nbsp;&nbsp;92 | &nbsp;&nbsp;19762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;26 | &nbsp;&nbsp;7070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pure Storage, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;105 | &nbsp;&nbsp;6250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;25 | &nbsp;&nbsp;10154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realty Income Corporation | &nbsp;&nbsp;141 | &nbsp;&nbsp;7914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regal Rexnord Corporation | &nbsp;&nbsp;53 | &nbsp;&nbsp;8103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regency Centers Corporation | &nbsp;&nbsp;36 | &nbsp;&nbsp;2570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robinhood Markets, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;108 | &nbsp;&nbsp;11129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;24 | &nbsp;&nbsp;3277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SBA Communications Corporation - Class A | &nbsp;&nbsp;73 | &nbsp;&nbsp;16404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;552 | &nbsp;&nbsp;5205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;15 | &nbsp;&nbsp;4818 |

---

---

| | | |
|:---|:---|:---|
| **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** | **WESTWOOD LBRTY GLOBAL EQUITY ETF** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.0% (Continued)** | **Shares** | **Value** |
| **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** | **United States - 80.4% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;24 | &nbsp;&nbsp;$1624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stryker Corporation | &nbsp;&nbsp;43 | &nbsp;&nbsp;16887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. <sup>(b)</sup> | &nbsp;&nbsp;42 | &nbsp;&nbsp;9355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tesla, Inc. <sup>(b)</sup> | &nbsp;&nbsp;102 | &nbsp;&nbsp;31444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;169 | &nbsp;&nbsp;21045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UDR, Inc. | &nbsp;&nbsp;78 | &nbsp;&nbsp;3065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;59 | &nbsp;&nbsp;14725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;93 | &nbsp;&nbsp;32128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W.R. Berkley Corporation | &nbsp;&nbsp;38 | &nbsp;&nbsp;2615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W.W. Grainger, Inc. | &nbsp;&nbsp;6 | &nbsp;&nbsp;6237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;140 | &nbsp;&nbsp;11288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Digital Corporation | &nbsp;&nbsp;100 | &nbsp;&nbsp;7869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Companies, Inc. (The) | &nbsp;&nbsp;186 | &nbsp;&nbsp;11151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zillow Group, Inc. - Class C <sup>(b)</sup> | &nbsp;&nbsp;61 | &nbsp;&nbsp;4853 |
|  |  | &nbsp;&nbsp;2204999 |
| **Investments at Value - 100.0%** (Cost $2,400,717) | **Investments at Value - 100.0%** (Cost $2,400,717) | &nbsp;&nbsp;$2743463 |
| **Other Assets in Excess of Liabilities - 0.0% <sup>(a)</sup>** | **Other Assets in Excess of Liabilities - 0.0% <sup>(a)</sup>** | &nbsp;&nbsp;31 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$2743494 |

---

---

| | |
|:---|:---|
| A/S | - Aktieselskab |
| ADR | - American Depositary Receipt |
| AG | - Aktiengesellschaft |
| ASA | - Allmennaksjeselskap |
| N.V. | - Naamloze Vennootschap |
| plc | - Public Limited Company |
| S.A. | - Societe Anonyme |
| SE | - Societe Europaea |

---

<sup>(a)</sup> Percentage rounds to less than 0.1%.

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Ultimus Managers Trust

- **b. Investment Company Act file number:** 811-22680

- **c. CIK number of Registrant:** 0001545440

- **d. LEI of Registrant:** 549300FU214TAR7BFY91

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

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

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

- **a. Name of Series:** Westwood Salient Enhanced Energy Income ETF

- **b. EDGAR series identifier (if any):** S000084179

- **c. LEI of Series:** 2549007W21PVVX7R7K69

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $18779989.77

**Total Liabilities:** $354963.76

**Net Assets:** $18425026.01

**Cash Not Reported:** $60710.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248452 | 1.59%                | 5.37%                | 3.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-54961.46               | $167905.03                                 |
| Month 2  | $-21843.32               | $798085.86                                 |
| Month 3  | $-55168.16               | $553680.24                                 |

**Designated Index Information**

- **Index Name:** S&P Energy Select Sector Index TR

- **Index Identifier:** ext_system_key_4

### Schedule of Portfolio Investments

| Name                             | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THE OPTIONS CLEARING CORPORATION | APA Corporation 08/15/2025 22.5 Call                  | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -57 | NS      | $-513.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Expand Energy Corp.              | Expand Energy Corporation                             | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      3056 | NS      | $320207.68    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Targa Resources Corporation 09/19/2025 180 Call       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -3 | NS      | $-1140.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Diamondback Energy, Inc. 08/15/2025 165 Call          | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -34 | NS      | $-2108.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited             | Schlumberger N.V.                                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     19680 | NS      | $665184.00    | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | ONEOK, Inc. 09/19/2025 85 Call                        | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -7 | NS      | $-1400.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Exxon Mobil Corporation 08/15/2025 120 Call           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -309 | NS      | $-7725.00     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Kinder Morgan, Inc. 09/19/2025 30 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -23 | NS      | $-644.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | EQT Corporation 08/15/2025 65 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -76 | NS      | $-532.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Marathon Petroleum Corporation 09/19/2025 185 Call    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -1 | NS      | $-220.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Devon Energy Corporation 09/19/2025 35 Call           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -7 | NS      | $-756.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Chevron Corporation 09/19/2025 160 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -23 | NS      | $-3680.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | EOG Resources, Inc. 09/19/2025 125 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -5 | NS      | $-1600.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.       | Occidental Petroleum Corporation                      | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     11261 | NS      | $494808.34    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Occidental Petroleum Corporation 09/19/2025 47.5 Call | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -3 | NS      | $-279.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Texas Pacific Land Corporation 08/15/2025 1200 Call   | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -2 | NS      | $-350.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Devon Energy Corporation         | Devon Energy Corporation                              | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      8634 | NS      | $286821.48    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.              | Valero Energy Corporation                             | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      4580 | NS      | $628879.80    | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Schlumberger N.V. 08/15/2025 37.5 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -171 | NS      | $-1197.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Devon Energy Corporation 08/15/2025 35 Call           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -73 | NS      | $-3650.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company              | Halliburton Company                                   | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     12910 | NS      | $289184.00    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Williams Companies, Inc. (The) 09/19/2025 65 Call     | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -14 | NS      | $-910.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Valero Energy Corporation 09/19/2025 160 Call         | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -1 | NS      | $-64.00       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Chevron Corporation 08/15/2025 165 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -6 | NS      | $-150.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | EQT Corporation 09/19/2025 60 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -7 | NS      | $-595.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Baker Hughes Company 08/15/2025 42 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -123 | NS      | $-40590.00    | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | ONEOK, Inc. 08/15/2025 90 Call                        | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -74 | NS      | $-888.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Williams Companies, Inc. (The) 08/15/2025 65 Call     | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -151 | NS      | $-3171.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                       | ONEOK, Inc.                                           | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      8560 | NS      | $702861.60    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp.                        | APA Corporation                                       | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      7005 | NS      | $135126.45    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | APA Corporation 09/19/2025 20 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -4 | NS      | $-420.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | ConocoPhillips 09/19/2025 100 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -10 | NS      | $-2160.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Diamondback Energy, Inc. 09/19/2025 150 Call          | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -2 | NS      | $-1460.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Phillips 66 08/15/2025 130 Call                       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -47 | NS      | $-3760.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Devon Energy Corporation 08/01/2025 37 Call           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -2 | NS      | $-2.00        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Coterra Energy, Inc. 09/19/2025 26 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -8 | NS      | $-368.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Valero Energy Corporation 08/15/2025 150 Call         | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -39 | NS      | $-1326.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | EOG Resources, Inc. 08/15/2025 130 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -60 | NS      | $-2850.00     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                | Exxon Mobil Corporation                               | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     34284 | NS      | $3827465.76   | 20.77%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Chevron Corporation 08/15/2025 155 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -3 | NS      | $-1147.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corporation                  | EQT Corporation                                       | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      8840 | NS      | $475150.00    | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Exxon Mobil Corporation 09/19/2025 115 Call           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -29 | NS      | $-6525.00     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.               | EOG Resources, Inc.                                   | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      6930 | NS      | $831738.60    | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                      | Phillips 66                                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      5598 | NS      | $691800.84    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Halliburton Company 08/15/2025 24 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -102 | NS      | $-1734.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Chevron Corporation 08/15/2025 160 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -156 | NS      | $-9672.00     | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Phillips 66 09/19/2025 130 Call                       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -3 | NS      | $-738.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Kinder Morgan, Inc. 08/15/2025 30 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -243 | NS      | $-1215.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Coterra Energy, Inc. 08/15/2025 28 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -95 | NS      | $-760.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Targa Resources Corporation 08/15/2025 180 Call       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -26 | NS      | $-3380.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Baker Hughes Company 09/19/2025 43 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -11 | NS      | $-3454.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                   | ConocoPhillips                                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     12531 | NS      | $1194705.54   | 6.48%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Diamondback Energy, Inc. 09/19/2025 155 Call          | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -1 | NS      | $-520.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Schlumberger N.V. 09/19/2025 37.5 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -15 | NS      | $-570.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.            | Targa Resources Corporation                           | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      3087 | NS      | $513707.67    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | APA Corporation 08/15/2025 20 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -5 | NS      | $-250.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Phillips 66 09/19/2025 135 Call                       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -2 | NS      | $-260.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Halliburton Company 09/19/2025 23 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -10 | NS      | $-870.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                    | Chevron Corporation                                   | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21260 | NS      | $3223877.77   | 17.50%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Halliburton Company 08/15/2025 23 Call                | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -10 | NS      | $-410.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.         | Marathon Petroleum Corporation                        | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      4264 | NS      | $725690.16    | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company             | Baker Hughes Company                                  | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14170 | NS      | $638358.50    | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corporation   | Texas Pacific Land Corporation                        | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       222 | NS      | $214924.86    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)    | Williams Companies, Inc. (The)                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     17396 | NS      | $1042890.20   | 5.66%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Marathon Petroleum Corporation 08/15/2025 180 Call    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -39 | NS      | $-5109.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | ConocoPhillips 08/15/2025 100 Call                    | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -109 | NS      | $-10028.00    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc           | Diamondback Energy, Inc.                              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      3986 | NS      | $592558.76    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Phillips 66 08/15/2025 135 Call                       | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -1 | NS      | $-21.00       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Chevron Corporation 09/19/2025 155 Call               | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -10 | NS      | $-3100.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc               | Coterra Energy, Inc.                                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     10946 | NS      | $266972.94    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Valero Energy Corporation 09/19/2025 150 Call         | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |        -3 | NS      | $-570.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Occidental Petroleum Corporation 08/15/2025 47.5 Call | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |      -103 | NS      | $-4017.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.              | Kinder Morgan, Inc.                                   | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     28065 | NS      | $787503.90    | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| THE OPTIONS CLEARING CORPORATION | Expand Energy Corporation 09/19/2025 110 Call         | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | Short            | DE               | CORP              | US        |       -29 | NS      | $-5655.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Westwood Salient Enhanced Energy Income ETF

**Signature:** Daniel D. Bauer

**Name of Signer:** Daniel D. Bauer

**Title:** Treasurer