A
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% | |||||||
ADVERTISING & MARKETING - 0.2% | |||||||
12,998 | QuinStreet, Inc.(a) | $ 232,794 | |||||
AEROSPACE & DEFENSE - 1.1% | |||||||
6,700 | AAR Corporation(a) | 226,795 | |||||
2,345 | AeroVironment, Inc.(a) | 240,034 | |||||
4,690 | Barnes Group, Inc. | 223,572 | |||||
5,360 | Kaman Corporation | 209,469 | |||||
3,082 | Moog, Inc., Class A | 244,835 | |||||
12,529 | Triumph Group, Inc. (a) | 231,285 | |||||
1,375,990 | |||||||
APPAREL & TEXTILE PRODUCTS - 0.8% | |||||||
1,742 | Crocs, Inc.(a) | 248,792 | |||||
2,747 | Oxford Industries, Inc. | 248,054 | |||||
5,427 | Steven Madden Ltd. | 219,631 | |||||
7,102 | Wolverine World Wide, Inc. | 254,678 | |||||
971,155 | |||||||
ASSET MANAGEMENT - 1.3% | |||||||
4,958 | Artisan Partners Asset Management, Inc., Class A | 257,618 | |||||
14,204 | Blucora, Inc.(a) | 233,088 | |||||
2,881 | Cohen & Steers, Inc. | 252,693 | |||||
7,370 | Federated Hermes, Inc., Class B | 249,327 | |||||
11,859 | Kennedy-Wilson Holdings, Inc. | 260,779 | |||||
10,318 | Sculptor Capital Management, Inc. | 291,999 | |||||
1,545,504 | |||||||
AUTOMOTIVE - 1.5% | |||||||
24,656 | American Axle & Manufacturing Holdings, Inc.(a) | 218,699 | |||||
9,916 | Dana, Inc. | 230,646 | |||||
2,345 | Dorman Products, Inc.(a) | 220,102 | |||||
2,881 | Gentherm, Inc.(a) | 247,247 | |||||
5,025 | Methode Electronics, Inc. | 234,014 | |||||
5,695 | Standard Motor Products, Inc. | 244,259 | |||||
13,802 | Tenneco, Inc., Class A(a) | 215,311 | |||||
2,077 | Visteon Corporation(a) | 219,497 | |||||
1,829,775 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
BANKING - 10.3% | |||||||
4,891 | Ameris Bancorp | $ 240,833 | |||||
12,060 | Associated Banc-Corporation | 248,677 | |||||
6,767 | Atlantic Union Bankshares Corporation | 250,379 | |||||
5,025 | Axos Financial, Inc.(a)(b) | 243,612 | |||||
9,246 | BancorpSouth Bank | 271,185 | |||||
5,896 | Bank OZK(b) | 250,167 | |||||
4,489 | Banner Corporation | 256,771 | |||||
16,616 | Brookline Bancorp, Inc.(b) | 248,742 | |||||
21,574 | Capitol Federal Financial, Inc. | 248,964 | |||||
6,298 | Cathay General Bancorp | 250,534 | |||||
3,149 | City Holding Company | 245,307 | |||||
6,834 | Columbia Banking System, Inc. | 248,484 | |||||
3,350 | Community Bank System, Inc. | 247,900 | |||||
12,529 | CVB Financial Corporation | 255,090 | |||||
4,355 | Eagle Bancorp, Inc. | 251,284 | |||||
19,698 | First BanCorporation | 250,756 | |||||
10,653 | First Financial Bancorp | 250,452 | |||||
5,695 | First Interstate BancSystem, Inc., Class A | 250,922 | |||||
13,333 | First Midwest Bancorp, Inc. | 249,727 | |||||
5,226 | Flagstar Bancorp, Inc. | 258,478 | |||||
15,611 | Fulton Financial Corporation | 247,434 | |||||
7,772 | Great Western Bancorp, Inc. | 240,621 | |||||
5,494 | Hancock Whitney Corporation | 252,504 | |||||
7,571 | Hilltop Holdings, Inc. | 253,401 | |||||
11,256 | Home BancShares, Inc. | 249,320 | |||||
18,023 | Hope Bancorp, Inc. | 248,537 | |||||
6,097 | International Bancshares Corporation | 255,342 | |||||
6,767 | National Bank Holdings Corporation, Class A | 253,763 | |||||
6,834 | NBT Bancorp, Inc. | 245,067 | |||||
17,956 | Northwest Bancshares, Inc. | 233,787 | |||||
14,874 | Old National Bancorp | 247,801 | |||||
6,030 | PacWest Bancorp | 256,577 | |||||
11,055 | Provident Financial Services, Inc. | 243,984 | |||||
6,767 | Renasant Corporation | 237,522 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
BANKING - 10.3% (Continued) | |||||||
8,107 | S&T Bancorp, Inc. | $ 241,589 | |||||
3,350 | ServisFirst Bancshares, Inc. | 245,957 | |||||
8,777 | Simmons First National Corporation, Class A | 254,972 | |||||
6,633 | Southside Bancshares, Inc. | 249,998 | |||||
10,988 | Sterling Bancorp | 251,515 | |||||
562 | SVB Financial Group(a) | 314,439 | |||||
3,819 | Texas Capital Bancshares, Inc.(a) | 259,654 | |||||
3,082 | Tompkins Financial Corporation | 245,296 | |||||
8,040 | Towne Bank | 244,979 | |||||
7,973 | Trustmark Corporation | 252,106 | |||||
6,901 | United Bankshares, Inc. | 250,713 | |||||
8,308 | United Community Banks, Inc. | 250,652 | |||||
7,437 | Washington Federal, Inc. | 247,652 | |||||
7,370 | WesBanco, Inc. | 250,580 | |||||
4,288 | Westamerica BanCorporation | 243,301 | |||||
3,350 | Wintrust Financial Corporation(b) | 250,714 | |||||
12,538,041 | |||||||
BEVERAGES - 0.2% | |||||||
603 | Coca-Cola Consolidated, Inc. | 244,914 | |||||
BIOTECH & PHARMA - 3.7% | |||||||
15,142 | Aerie Pharmaceuticals, Inc.(a) | 225,767 | |||||
48,508 | Amneal Pharmaceuticals, Inc.(a) | 273,585 | |||||
18,291 | Coherus Biosciences, Inc.(a)(b) | 292,290 | |||||
3,618 | Emergent BioSolutions, Inc.(a) | 228,223 | |||||
5,628 | Enanta Pharmaceuticals, Inc.(a)(b) | 321,922 | |||||
5,762 | Halozyme Therapeutics, Inc.(a) | 241,946 | |||||
1,005 | Heska Corporation(a) | 266,627 | |||||
16,884 | Innoviva, Inc.(a) | 257,650 | |||||
13,802 | Intercept Pharmaceuticals, Inc.(a)(b) | 205,788 | |||||
18,023 | Ironwood Pharmaceuticals, Inc.(a) | 236,101 | |||||
2,077 | Ligand Pharmaceuticals, Inc.(a) | 274,787 | |||||
4,087 | Pacira BioSciences, Inc.(a) | 242,318 | |||||
4,556 | Prestige Consumer Healthcare, Inc.(a) | 261,469 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
BIOTECH & PHARMA - 3.7% (Continued) | |||||||
5,494 | Sage Therapeutics, Inc.(a) | $ 253,878 | |||||
9,045 | Supernus Pharmaceuticals, Inc.(a) | 249,009 | |||||
18,425 | Theravance Biopharma, Inc.(a)(b) | 152,928 | |||||
3,015 | Ultragenyx Pharmaceutical, Inc.(a) | 290,314 | |||||
1,340 | United Therapeutics Corporation(a) | 287,939 | |||||
4,562,541 | |||||||
CHEMICALS - 4.0% | |||||||
4,958 | Avient Corporation | 258,262 | |||||
1,742 | Balchem Corporation | 244,612 | |||||
4,355 | Cabot Corporation | 232,557 | |||||
7,169 | Chemours Company (The) | 240,233 | |||||
10,251 | GCP Applied Technologies, Inc.(a) | 244,384 | |||||
3,685 | HB Fuller Company | 248,995 | |||||
2,814 | Ingevity Corporation(a) | 226,217 | |||||
2,680 | Innospec, Inc. | 250,848 | |||||
6,298 | Kraton Corporation(a) | 265,272 | |||||
17,152 | Kronos Worldwide, Inc. | 227,092 | |||||
3,350 | Materion Corporation | 244,651 | |||||
2,948 | Minerals Technologies, Inc. | 231,831 | |||||
5,092 | Olin Corporation | 253,785 | |||||
938 | Quaker Chemical Corporation | 243,055 | |||||
2,747 | Sensient Technologies Corporation | 238,577 | |||||
2,010 | Stepan Company | 236,296 | |||||
4,422 | Trinseo S.A. | 229,634 | |||||
9,715 | Univar Solutions, Inc.(a) | 229,371 | |||||
7,772 | Valvoline, Inc. | 234,404 | |||||
1,005 | WD-40 Company | 240,828 | |||||
4,820,904 | |||||||
COMMERCIAL SUPPORT SERVICES - 2.8% | |||||||
5,159 | ABM Industries, Inc. | 255,474 | |||||
2,345 | AMN Healthcare Services, Inc.(a) | 266,204 | |||||
4,355 | Brady Corporation, Class A | 232,252 | |||||
1,675 | CorVel Corporation(a) | 276,057 | |||||
11,859 | Covanta Holding Corporation | 237,773 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
COMMERCIAL SUPPORT SERVICES - 2.8% (Continued) | |||||||
5,427 | Deluxe Corporation | $ 208,125 | |||||
11,859 | Harsco Corporation(a)(b) | 216,308 | |||||
9,179 | Healthcare Services Group, Inc. | 240,123 | |||||
2,412 | Insperity, Inc. | 266,140 | |||||
3,484 | Korn Ferry | 246,284 | |||||
2,881 | TriNet Group, Inc.(a) | 265,282 | |||||
1,072 | UniFirst Corporation | 245,563 | |||||
6,834 | US Ecology, Inc. (a)(b) | 244,999 | |||||
5,226 | Viad Corporation(a) | 225,711 | |||||
3,426,295 | |||||||
CONSTRUCTION MATERIALS - 0.6% | |||||||
1,675 | Eagle Materials, Inc. | 262,707 | |||||
2,144 | Simpson Manufacturing Company, Inc. | 242,594 | |||||
7,102 | Summit Materials, Inc., Class A(a) | 239,124 | |||||
744,425 | |||||||
CONSUMER SERVICES - 1.5% | |||||||
5,561 | 2U, Inc.(a) | 205,924 | |||||
6,566 | Adtalem Global Education, Inc.(a) | 242,942 | |||||
335 | Graham Holdings Company, Class B | 206,631 | |||||
6,901 | Matthews International Corporation, Class A | 255,544 | |||||
804 | Medifast, Inc. | 183,232 | |||||
20,167 | Perdoceo Education Corporation(a) | 221,434 | |||||
4,154 | Rent-A-Center, Inc. | 262,034 | |||||
3,015 | Strategic Education, Inc. | 236,014 | |||||
1,813,755 | |||||||
CONTAINERS & PACKAGING - 0.6% | |||||||
3,953 | Greif, Inc., Class A | 250,304 | |||||
16,147 | O-I Glass, Inc. (a) | 244,304 | |||||
5,896 | Silgan Holdings, Inc.(b) | 250,167 | |||||
744,775 | |||||||
DATA CENTER REIT - 0.2% | |||||||
3,082 | QTS Realty Trust, Inc., Class A | 240,334 | |||||
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
ELECTRIC UTILITIES - 1.6% | |||||||
3,417 | ALLETE, Inc. | $ 230,374 | |||||
3,551 | Black Hills Corporation | 249,742 | |||||
8,308 | Clearway Energy, Inc. | 260,789 | |||||
3,082 | MGE Energy, Inc. | 248,224 | |||||
3,082 | NextEra Energy Partners, L.P.(b) | 246,344 | |||||
3,886 | NorthWestern Corporation | 247,150 | |||||
3,417 | Ormat Technologies, Inc.(b) | 243,051 | |||||
4,690 | Otter Tail Corporation | 257,340 | |||||
1,983,014 | |||||||
ELECTRICAL EQUIPMENT - 1.8% | |||||||
3,819 | AAON, Inc. | 260,112 | |||||
2,278 | Advanced Energy Industries, Inc. | 205,430 | |||||
2,345 | Badger Meter, Inc. | 251,126 | |||||
4,891 | Belden, Inc. | 280,010 | |||||
3,283 | FARO Technologies, Inc.(a) | 226,330 | |||||
2,412 | Itron, Inc.(a) | 202,632 | |||||
2,412 | OSI Systems, Inc.(a) | 238,643 | |||||
3,618 | SPX Corporation(a) | 226,053 | |||||
1,608 | Watts Water Technologies, Inc., Class A | 275,885 | |||||
2,166,221 | |||||||
ENGINEERING & CONSTRUCTION - 1.4% | |||||||
3,216 | Comfort Systems USA, Inc. | 244,352 | |||||
3,417 | Dycom Industries, Inc.(a)(b) | 257,403 | |||||
2,211 | Exponent, Inc. | 258,466 | |||||
6,231 | Granite Construction, Inc. | 252,605 | |||||
2,010 | Installed Building Products, Inc. | 249,602 | |||||
6,164 | KBR, Inc. | 240,026 | |||||
1,206 | TopBuild Corporation(a) | 263,860 | |||||
1,766,314 | |||||||
ENTERTAINMENT CONTENT - 0.2% | |||||||
4,757 | AMC Networks, Inc., Class A(a)(b) | 226,100 | |||||
FOOD - 2.0% | |||||||
8,308 | B&G Foods, Inc.(b) | 252,231 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
FOOD - 2.0% (Continued) | |||||||
6,834 | Cal-Maine Foods, Inc. | $ 247,117 | |||||
7,772 | Fresh Del Monte Produce, Inc. | 255,544 | |||||
5,963 | Hain Celestial Group, Inc. (The)(a)(b) | 223,076 | |||||
1,474 | J & J Snack Foods Corporation | 241,382 | |||||
2,613 | John B Sanfilippo & Son, Inc. | 222,079 | |||||
10,117 | Phibro Animal Health Corporation, Class A | 245,742 | |||||
1,273 | Sanderson Farms, Inc. | 250,145 | |||||
6,968 | Tootsie Roll Industries, Inc.(b) | 220,537 | |||||
5,360 | TreeHouse Foods, Inc.(a) | 200,839 | |||||
2,358,692 | |||||||
FORESTRY, PAPER & WOOD PRODUCTS - 1.0% | |||||||
4,690 | Boise Cascade Company(b) | 271,317 | |||||
4,355 | Domtar Corporation(a) | 238,785 | |||||
4,288 | Louisiana-Pacific Corporation | 272,030 | |||||
4,757 | Neenah, Inc. | 239,705 | |||||
3,216 | UFP Industries, Inc. | 241,457 | |||||
1,263,294 | |||||||
GAS & WATER UTILITIES - 1.2% | |||||||
2,680 | American States Water Company | 247,123 | |||||
4,623 | National Fuel Gas Company | 239,518 | |||||
4,656 | Northwest Natural Holding Company(b) | 239,551 | |||||
3,216 | ONE Gas, Inc. | 230,973 | |||||
9,514 | South Jersey Industries, Inc.(b) | 236,042 | |||||
14,740 | Suburban Propane Partners, L.P. | 224,490 | |||||
1,417,697 | |||||||
HEALTH CARE FACILITIES & SERVICES - 1.8% | |||||||
3,886 | Acadia Healthcare Company, Inc.(a) | 256,942 | |||||
31,758 | Brookdale Senior Living, Inc.(a) | 231,833 | |||||
2,814 | Ensign Group, Inc. (The) | 229,819 | |||||
2,546 | Magellan Health, Inc.(a) | 240,903 | |||||
8,174 | MEDNAX, Inc.(a) | 262,467 | |||||
6,030 | Select Medical Holdings Corporation | 208,457 | |||||
3,350 | Tenet Healthcare Corporation(a) | 252,423 | |||||
9,514 | Tivity Health, Inc.(a) | 221,201 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
HEALTH CARE FACILITIES & SERVICES - 1.8% (Continued) | |||||||
2,010 | US Physical Therapy, Inc. | $ 235,974 | |||||
2,140,019 | |||||||
HEALTH CARE REIT - 0.8% | |||||||
9,916 | CareTrust REIT, Inc. | 218,053 | |||||
61,305 | Diversified Healthcare Trust | 229,894 | |||||
6,298 | LTC Properties, Inc. | 217,344 | |||||
12,596 | Physicians Realty Trust | 233,152 | |||||
898,443 | |||||||
HOME & OFFICE PRODUCTS - 0.8% | |||||||
5,561 | Herman Miller, Inc. | 233,729 | |||||
6,432 | HNI Corporation | 243,708 | |||||
2,747 | iRobot Corporation(a) | 222,837 | |||||
11,457 | Tupperware Brands Corporation(a) | 273,479 | |||||
973,753 | |||||||
HOME CONSTRUCTION - 2.6% | |||||||
3,216 | American Woodmark Corporation(a) | 226,599 | |||||
1,005 | Cavco Industries, Inc.(a) | 256,779 | |||||
11,658 | Forestar Group, Inc.(a) | 242,370 | |||||
10,385 | Griffon Corporation(b) | 251,317 | |||||
5,628 | KB Home | 242,173 | |||||
1,407 | LGI Homes, Inc.(a) | 225,584 | |||||
3,685 | M/I Homes, Inc.(a) | 237,277 | |||||
4,489 | MDC Holdings, Inc. | 234,550 | |||||
2,211 | Meritage Homes Corporation(a) | 246,615 | |||||
2,881 | Patrick Industries, Inc. | 235,118 | |||||
10,586 | PGT Innovations, Inc.(a) | 224,741 | |||||
8,911 | Taylor Morrison Home Corporation(a) | 250,310 | |||||
9,916 | Tri Pointe Homes, Inc.(a) | 235,703 | |||||
3,109,136 | |||||||
HOTEL REIT - 1.4% | |||||||
27,738 | DiamondRock Hospitality Company(a) | 250,752 | |||||
10,653 | Pebblebrook Hotel Trust | 234,686 | |||||
16,683 | RLJ Lodging Trust | 240,736 | |||||
3,149 | Ryman Hospitality Properties, Inc. (a) | 261,587 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
HOTEL REIT - 1.4% (Continued) | |||||||
21,440 | Service Properties Trust | $ 245,059 | |||||
26,532 | Summit Hotel Properties, Inc. (a) | 247,278 | |||||
13,534 | Xenia Hotels & Resorts, Inc. (a)(b) | 235,762 | |||||
1,715,860 | |||||||
HOUSEHOLD PRODUCTS - 1.1% | |||||||
4,958 | Central Garden & Pet Company(a) | 228,316 | |||||
5,829 | Edgewell Personal Care Company | 246,567 | |||||
5,561 | Energizer Holdings, Inc. | 218,770 | |||||
3,082 | Inter Parfums, Inc. | 223,568 | |||||
4,422 | Nu Skin Enterprises, Inc., Class A(b) | 223,842 | |||||
21,909 | Revlon, Inc., Class A(a)(b) | 249,981 | |||||
1,391,044 | |||||||
INDUSTRIAL INTERMEDIATE PROD - 1.6% | |||||||
4,489 | AZZ, Inc. | 240,386 | |||||
1,541 | Chart Industries, Inc.(a) | 290,295 | |||||
2,546 | EnPro Industries, Inc. | 217,708 | |||||
3,216 | Gibraltar Industries, Inc.(a) | 240,107 | |||||
5,494 | Mueller Industries, Inc. | 245,087 | |||||
3,082 | Proto Labs, Inc.(a) | 228,561 | |||||
4,087 | Raven Industries, Inc. (a) | 238,476 | |||||
1,005 | Valmont Industries, Inc. | 250,104 | |||||
1,950,724 | |||||||
INDUSTRIAL REIT - 0.2% | |||||||
1,541 | PS Business Parks, Inc. | 242,291 | |||||
INDUSTRIAL SUPPORT SERVICES - 0.4% | |||||||
2,680 | Applied Industrial Technologies, Inc. | 238,011 | |||||
2,278 | WESCO International, Inc.(a) | 266,571 | |||||
504,582 | |||||||
INFRASTRUCTURE REIT - 0.2% | |||||||
20,435 | Uniti Group, Inc. | 267,085 | |||||
INSTITUTIONAL FINANCIAL SERVICES - 0.4% | |||||||
1,809 | Evercore, Inc., Class A | 252,609 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
INSTITUTIONAL FINANCIAL SERVICES - 0.4% (Continued) | |||||||
2,680 | Houlihan Lokey, Inc. | $ 241,736 | |||||
494,345 | |||||||
INSURANCE - 2.6% | |||||||
7,437 | American Equity Investment Life Holding Company | 235,679 | |||||
4,154 | AMERISAFE, Inc. | 239,063 | |||||
4,556 | Argo Group International Holdings Ltd.(b) | 241,012 | |||||
10,452 | CNO Financial Group, Inc. | 255,656 | |||||
4,623 | eHealth, Inc.(a) | 178,679 | |||||
5,762 | Employers Holdings, Inc. | 237,222 | |||||
71,556 | Genworth Financial, Inc., Class A(a) | 268,335 | |||||
6,030 | Horace Mann Educators Corporation | 247,230 | |||||
3,953 | Mercury General Corporation | 236,034 | |||||
11,792 | ProAssurance Corporation | 300,695 | |||||
3,149 | Safety Insurance Group, Inc. | 256,045 | |||||
2,948 | Selective Insurance Group, Inc. | 246,364 | |||||
9,581 | United Fire Group, Inc.(b) | 248,723 | |||||
3,190,737 | |||||||
INTERNET MEDIA & SERVICES - 0.2% | |||||||
737 | Stamps.com, Inc.(a) | 242,399 | |||||
LEISURE FACILITIES & SERVICES - 2.4% | |||||||
5,896 | BJ's Restaurants, Inc. (a) | 252,113 | |||||
4,422 | Brinker International, Inc. (a)(b) | 235,560 | |||||
5,293 | Cheesecake Factory, Inc. (The) (a) | 246,918 | |||||
15,410 | Cinemark Holdings, Inc. (a)(b) | 274,759 | |||||
3,082 | Dine Brands Global, Inc. (a) | 254,943 | |||||
2,211 | Jack in the Box, Inc.(b) | 234,278 | |||||
2,077 | Papa John's International, Inc. | 264,880 | |||||
5,025 | SeaWorld Entertainment, Inc.(a) | 247,180 | |||||
2,345 | Shake Shack, Inc., Class A(a) | 203,429 | |||||
5,293 | St Joe Company (The) | 244,907 | |||||
2,613 | Texas Roadhouse, Inc. | 248,235 | |||||
1,407 | Wingstop, Inc. | 241,906 | |||||
2,949,108 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
LEISURE PRODUCTS - 0.9% | |||||||
7,571 | Callaway Golf Company(a) | $ 212,442 | |||||
1,474 | Fox Factory Holding Corporation(a) | 226,510 | |||||
3,216 | Sturm Ruger & Company, Inc.(b) | 251,459 | |||||
2,010 | Thor Industries, Inc.(b) | 227,994 | |||||
3,350 | Winnebago Industries, Inc. | 233,227 | |||||
1,151,632 | |||||||
MACHINERY - 3.9% | |||||||
1,608 | Alamo Group, Inc. | 249,256 | |||||
2,747 | Albany International Corporation, Class A(b) | 215,173 | |||||
3,886 | Astec Industries, Inc. | 237,590 | |||||
2,010 | Curtiss-Wright Corporation | 244,778 | |||||
9,313 | Enerpac Tool Group Corporation | 234,315 | |||||
2,546 | ESCO Technologies, Inc. | 229,446 | |||||
6,030 | Federal Signal Corporation | 244,999 | |||||
2,948 | Franklin Electric Company, Inc. | 250,521 | |||||
5,293 | Hillenbrand, Inc. | 245,701 | |||||
1,608 | John Bean Technologies Corporation | 234,591 | |||||
6,566 | Kennametal, Inc. | 244,124 | |||||
1,474 | Lindsay Corporation | 242,842 | |||||
16,147 | Mueller Water Products, Inc. - Series A | 268,362 | |||||
1,608 | Regal Beloit Corporation | 240,267 | |||||
4,221 | Rexnord Corporation | 256,467 | |||||
2,881 | SPX FLOW, Inc. | 232,007 | |||||
3,015 | Tennant Company(b) | 223,050 | |||||
4,958 | Terex Corporation | 253,105 | |||||
10,184 | Welbilt, Inc.(a) | 238,306 | |||||
4,584,900 | |||||||
MEDICAL EQUIPMENT & DEVICES - 2.7% | |||||||
9,045 | AngioDynamics, Inc.(a) | 255,974 | |||||
6,298 | Avanos Medical, Inc.(a) | 207,834 | |||||
8,844 | CryoLife, Inc.(a)(b) | 232,067 | |||||
1,206 | ICU Medical, Inc.(a) | 240,416 | |||||
3,015 | Inogen, Inc.(a)(b) | 178,458 | |||||
2,412 | Integer Holdings Corporation(a) | 238,281 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
MEDICAL EQUIPMENT & DEVICES - 2.7% (Continued) | |||||||
9,112 | Lantheus Holdings, Inc.(a) | $ 240,283 | |||||
2,747 | LivaNova plc(a) | 227,149 | |||||
3,417 | Merit Medical Systems, Inc.(a) | 245,238 | |||||
7,571 | Myriad Genetics, Inc.(a) | 270,891 | |||||
8,978 | Natus Medical, Inc.(a) | 238,097 | |||||
5,494 | Neogen Corporation(a) | 240,527 | |||||
20,301 | OraSure Technologies, Inc.(a)(b) | 222,296 | |||||
8,777 | Varex Imaging Corporation(a) | 256,025 | |||||
3,293,536 | |||||||
METALS & MINING - 1.4% | |||||||
30,083 | Alliance Resource Partners, L.P. | 260,519 | |||||
9,581 | Cleveland-Cliffs, Inc. (a)(b) | 224,866 | |||||
31,691 | Coeur Mining, Inc.(a) | 223,422 | |||||
3,484 | Compass Minerals International, Inc. | 233,184 | |||||
3,015 | Encore Wire Corporation | 256,305 | |||||
35,711 | Hecla Mining Company | 219,623 | |||||
1,943 | Kaiser Aluminum Corporation | 245,323 | |||||
1,663,242 | |||||||
MORTGAGE FINANCE - 0.4% | |||||||
15,678 | Apollo Commercial Real Estate Finance, Inc. | 243,793 | |||||
69,479 | Invesco Mortgage Capital, Inc.(b) | 216,774 | |||||
460,567 | |||||||
MULTI ASSET CLASS REIT - 0.2% | |||||||
9,849 | Washington Real Estate Investment Trust | 247,604 | |||||
MULTI ASSET CLASS REITS - 0.2% | |||||||
18,157 | Lexington Realty Trust | 245,664 | |||||
OFFICE REIT - 1.4% | |||||||
6,499 | American Assets Trust, Inc. | 258,790 | |||||
17,152 | Brandywine Realty Trust | 238,070 | |||||
14,338 | Columbia Property Trust, Inc. | 239,731 | |||||
8,107 | Corporate Office Properties Trust | 228,455 | |||||
13,266 | Mack-Cali Realty Corporation(a) | 237,196 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
OFFICE REIT - 1.4% (Continued) | |||||||
8,241 | Office Properties Income Trust | $ 218,634 | |||||
12,596 | Piedmont Office Realty Trust, Inc., Class A | 224,461 | |||||
1,645,337 | |||||||
OIL & GAS PRODUCERS - 2.6% | |||||||
6,097 | Callon Petroleum Company(a)(b) | 208,334 | |||||
8,174 | Crestwood Equity Partners, L.P. | 215,385 | |||||
13,735 | Delek US Holdings, Inc. | 235,006 | |||||
38,391 | Enerplus Corporation(b) | 227,275 | |||||
42,880 | EnLink Midstream, LLC | 231,123 | |||||
11,591 | Holly Energy Partners, L.P. | 215,593 | |||||
103,448 | Kosmos Energy Ltd. (a) | 244,137 | |||||
1,608 | Murphy USA, Inc. | 249,691 | |||||
6,030 | PDC Energy, Inc. | 251,754 | |||||
12,797 | SM Energy Company | 244,423 | |||||
50,719 | Southwestern Energy Company(a) | 230,771 | |||||
6,298 | Sunoco, L.P. | 231,766 | |||||
13,266 | Viper Energy Partners, L.P. | 245,686 | |||||
6,968 | World Fuel Services Corporation | 225,484 | |||||
3,256,428 | |||||||
OIL & GAS SERVICES & EQUIPMENT - 1.8% | |||||||
27,738 | Archrock, Inc. | 213,028 | |||||
8,375 | Dril-Quip, Inc.(a) | 203,513 | |||||
86,899 | Frank's International N.V.(a) | 250,268 | |||||
57,553 | Helix Energy Solutions Group, Inc.(a) | 216,399 | |||||
26,063 | MRC Global, Inc.(a) | 213,717 | |||||
2,747 | Nabors Industries Ltd. (a) | 231,682 | |||||
24,187 | NOW, Inc.(a)(b) | 185,756 | |||||
18,023 | Oceaneering International, Inc.(a) | 221,683 | |||||
42,210 | Oil States International, Inc.(a)(b) | 247,351 | |||||
29,815 | Patterson-UTI Energy, Inc. | 231,364 | |||||
2,214,761 | |||||||
PUBLISHING & BROADCASTING - 0.8% | |||||||
89,847 | Clear Channel Outdoor Holdings, Inc.(a) | 236,298 | |||||
12,529 | EW Scripps Company (The), Class A | 232,288 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
PUBLISHING & BROADCASTING - 0.8% (Continued) | |||||||
4,087 | John Wiley & Sons, Inc., Class A | $ 237,454 | |||||
7,102 | Scholastic Corporation | 236,070 | |||||
942,110 | |||||||
RENEWABLE ENERGY - 0.2% | |||||||
2,412 | EnerSys | 204,031 | |||||
RESIDENTIAL REIT - 0.2% | |||||||
12,395 | Independence Realty Trust, Inc. | 253,850 | |||||
RETAIL - CONSUMER STAPLES - 0.9% | |||||||
4,154 | Big Lots, Inc. (b) | 202,134 | |||||
2,546 | Ollie's Bargain Outlet Holdings, Inc.(a)(b) | 184,279 | |||||
2,680 | PriceSmart, Inc. | 226,755 | |||||
9,715 | Sprouts Farmers Market, Inc.(a) | 241,904 | |||||
4,556 | Weis Markets, Inc. | 259,464 | |||||
1,114,536 | |||||||
RETAIL - DISCRETIONARY - 3.9% | |||||||
8,308 | Aaron's Company, Inc. (The) | 220,328 | |||||
1,139 | Asbury Automotive Group, Inc.(a) | 212,127 | |||||
2,881 | Avis Budget Group, Inc.(a) | 261,451 | |||||
5,695 | Buckle, Inc. (The) | 220,567 | |||||
5,360 | Builders FirstSource, Inc.(a) | 285,634 | |||||
9,715 | Caleres, Inc. | 238,892 | |||||
2,814 | Children's Place, Inc. (The) (a) | 244,368 | |||||
16,415 | Designer Brands, Inc., Class A(a) | 238,018 | |||||
1,273 | Dillard's, Inc., Class A(b) | 242,456 | |||||
1,407 | Group 1 Automotive, Inc. | 232,774 | |||||
10,720 | Guess?, Inc. | 259,317 | |||||
7,102 | La-Z-Boy, Inc. | 248,641 | |||||
603 | Lithia Motors, Inc., Class A | 199,774 | |||||
4,489 | MarineMax, Inc.(a) | 218,255 | |||||
4,087 | Monro, Inc.(b) | 232,591 | |||||
335 | RH(a) | 234,724 | |||||
12,663 | Sally Beauty Holdings, Inc.(a) | 235,405 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
RETAIL - DISCRETIONARY - 3.9% (Continued) | |||||||
2,412 | Sleep Number Corporation(a) | $ 223,134 | |||||
4,355 | Sonic Automotive, Inc., Class A | 220,102 | |||||
6,432 | Urban Outfitters, Inc.(a) | 212,385 | |||||
4,680,943 | |||||||
RETAIL REIT - 2.2% | |||||||
11,189 | Acadia Realty Trust | 237,431 | |||||
3,149 | Agree Realty Corporation | 234,758 | |||||
8,308 | Four Corners Property Trust, Inc. | 237,692 | |||||
7,571 | Getty Realty Corporation | 239,471 | |||||
10,471 | Kimco Realty Corporation | 228,163 | |||||
11,859 | Kite Realty Group Trust | 240,263 | |||||
13,534 | Retail Opportunity Investments Corporation | 244,695 | |||||
18,760 | RPT Realty | 242,754 | |||||
5,226 | Saul Centers, Inc. | 240,814 | |||||
13,936 | Tanger Factory Outlet Centers, Inc.(b) | 233,010 | |||||
12,596 | Urban Edge Properties | 238,568 | |||||
2,617,619 | |||||||
SEMICONDUCTORS - 4.0% | |||||||
9,715 | Amkor Technology, Inc. | 266,871 | |||||
2,680 | Brooks Automation, Inc. | 227,693 | |||||
4,824 | CEVA, Inc.(a) | 232,758 | |||||
2,881 | Cirrus Logic, Inc.(a) | 241,053 | |||||
6,767 | Cohu, Inc. (a) | 241,447 | |||||
6,834 | CTS Corporation | 239,737 | |||||
2,881 | Diodes, Inc.(a) | 278,967 | |||||
14,874 | DSP Group, Inc.(a) | 325,740 | |||||
3,417 | II-VI, Inc.(a) | 215,203 | |||||
4,422 | Kulicke & Soffa Industries, Inc. | 310,380 | |||||
4,958 | MaxLinear, Inc., A(a) | 258,956 | |||||
3,417 | Onto Innovation, Inc.(a) | 253,302 | |||||
2,479 | Power Integrations, Inc.(b) | 269,319 | |||||
10,117 | Rambus, Inc.(a)(b) | 240,785 | |||||
3,886 | Semtech Corporation(a) | 271,709 | |||||
3,216 | Silicon Motion Technology Corporation - ADR | 240,107 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
SEMICONDUCTORS - 4.0% (Continued) | |||||||
1,541 | Synaptics, Inc.(a) | $ 292,451 | |||||
10,385 | Veeco Instruments, Inc.(a)(b) | 236,674 | |||||
10,787 | Vishay Intertechnology, Inc. | 236,990 | |||||
4,880,142 | |||||||
SOFTWARE - 4.3% | |||||||
14,003 | Allscripts Healthcare Solutions, Inc.(a)(b) | 215,086 | |||||
3,350 | Blackbaud, Inc. (a)(b) | 233,462 | |||||
5,896 | Bottomline Technologies DE, Inc.(a) | 249,224 | |||||
9,179 | Cognyte Software Ltd.(a) | 252,239 | |||||
3,149 | CommVault Systems, Inc.(a) | 254,975 | |||||
1,474 | Concentrix Corporation(a) | 255,577 | |||||
4,958 | Cornerstone OnDemand, Inc.(a) | 284,093 | |||||
7,906 | Ebix, Inc.(b) | 227,535 | |||||
3,149 | Envestnet, Inc.(a) | 251,511 | |||||
11,859 | FireEye, Inc.(a) | 215,715 | |||||
6,298 | Inovalon Holdings, Inc., Class A(a) | 257,273 | |||||
3,752 | LivePerson, Inc.(a) | 240,503 | |||||
402 | MicroStrategy, Inc., Class A(a)(b) | 279,109 | |||||
3,484 | New Relic, Inc.(a)(b) | 278,615 | |||||
14,740 | NextGen Healthcare, Inc.(a) | 224,932 | |||||
1,608 | Omnicell, Inc.(a) | 249,674 | |||||
5,226 | Progress Software Corporation | 243,323 | |||||
2,345 | Qualys, Inc.(a) | 275,256 | |||||
2,211 | SPS Commerce, Inc.(a) | 299,657 | |||||
5,628 | Verint Systems, Inc.(a)(b) | 251,234 | |||||
11,524 | Xperi Holding Corporation | 246,268 | |||||
5,285,261 | |||||||
SPECIALTY FINANCE - 2.2% | |||||||
5,025 | Encore Capital Group, Inc.(a) | 247,280 | |||||
3,015 | FirstCash, Inc. | 258,355 | |||||
2,613 | GATX Corporation | 239,560 | |||||
1,206 | LendingTree, Inc.(a) | 200,956 | |||||
6,432 | Mr Cooper Group, Inc.(a) | 250,076 | |||||
3,149 | Nelnet, Inc., Class A | 254,691 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
SPECIALTY FINANCE - 2.2% (Continued) | |||||||
6,164 | PRA Group, Inc.(a) | $ 258,888 | |||||
5,427 | PROG Holdings, Inc.(b) | 256,806 | |||||
12,663 | SLM Corporation | 237,431 | |||||
4,020 | Stewart Information Services Corporation | 253,059 | |||||
2,278 | Walker & Dunlop, Inc. | 252,972 | |||||
2,710,074 | |||||||
SPECIALTY REIT - 0.5% | |||||||
23,249 | CoreCivic, Inc. (a) | 225,980 | |||||
34,505 | GEO Group, Inc. (The)(b) | 267,415 | |||||
9,983 | Outfront Media, Inc. | 247,179 | |||||
740,574 | |||||||
STEEL - 0.9% | |||||||
11,658 | Allegheny Technologies, Inc.(a) | 208,212 | |||||
6,231 | Carpenter Technology Corporation(b) | 207,804 | |||||
7,303 | Commercial Metals Company | 238,224 | |||||
9,045 | United States Steel Corporation | 241,954 | |||||
3,752 | Worthington Industries, Inc. | 217,428 | |||||
1,113,622 | |||||||
TECHNOLOGY HARDWARE - 3.0% | |||||||
8,710 | 3D Systems Corporation(a) | 265,132 | |||||
9,045 | Benchmark Electronics, Inc.(b) | 244,486 | |||||
2,546 | Fabrinet(a) | 262,289 | |||||
23,450 | GoPro, Inc., Class A(a) | 233,797 | |||||
3,618 | InterDigital, Inc. | 260,894 | |||||
11,926 | Knowles Corporation(a) | 238,520 | |||||
8,308 | NetScout Systems, Inc.(a) | 227,805 | |||||
7,638 | Plantronics, Inc. (a)(b) | 227,460 | |||||
2,613 | Plexus Corporation(a)(b) | 239,952 | |||||
6,231 | Sanmina Corporation(a) | 246,000 | |||||
6,298 | Super Micro Computer, Inc.(a) | 230,129 | |||||
2,010 | SYNNEX Corporation | 255,411 | |||||
17,085 | TTM Technologies, Inc.(a) | 239,190 | |||||
14,338 | Viavi Solutions, Inc.(a) | 233,566 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
TECHNOLOGY HARDWARE - 3.0% (Continued) | |||||||
2,077 | Vicor Corporation(a) | $ 256,239 | |||||
3,660,870 | |||||||
TECHNOLOGY SERVICES - 1.7% | |||||||
5,293 | CSG Systems International, Inc.(b) | 255,176 | |||||
2,144 | ExlService Holdings, Inc.(a) | 264,012 | |||||
5,159 | Green Dot Corporation, Class A(a) | 269,506 | |||||
5,963 | LiveRamp Holdings, Inc.(a) | 292,187 | |||||
2,747 | ManTech International Corporation, Class A | 217,480 | |||||
2,546 | Perficient, Inc.(a) | 303,534 | |||||
20,301 | Sabre Corporation(a) | 227,980 | |||||
2,278 | TTEC Holdings, Inc. | 240,238 | |||||
2,070,113 | |||||||
TELECOMMUNICATIONS - 1.7% | |||||||
9,380 | 8x8, Inc.(a) | 226,527 | |||||
5,561 | ATN International, Inc. | 253,526 | |||||
15,611 | Cincinnati Bell, Inc.(a)(b) | 241,814 | |||||
3,082 | Cogent Communications Holdings, Inc. | 223,692 | |||||
5,628 | Iridium Communications, Inc.(a) | 250,502 | |||||
29,011 | Spok Holdings, Inc. | 287,500 | |||||
10,720 | Telephone and Data Systems, Inc. | 217,830 | |||||
6,566 | United States Cellular Corporation(a) | 209,784 | |||||
16,750 | Vonage Holdings Corporation(a) | 236,175 | |||||
2,147,350 | |||||||
TIMBER REIT - 0.2% | |||||||
4,623 | PotlatchDeltic Corporation | 240,165 | |||||
TRANSPORTATION & LOGISTICS - 2.0% | |||||||
1,273 | Allegiant Travel Company(a)(b) | 244,976 | |||||
2,680 | Forward Air Corporation | 236,296 | |||||
14,003 | Heartland Express, Inc. | 234,970 | |||||
3,618 | Hub Group, Inc., Class A(a) | 253,984 | |||||
4,154 | Kirby Corporation(a) | 222,613 | |||||
15,075 | Marten Transport Ltd. | 235,019 | |||||
3,551 | Matson, Inc. | 281,133 |
INSPIRE SMALL/MID CAP IMPACT ETF | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
August 31, 2021 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 99.3% (Continued) | |||||||
TRANSPORTATION & LOGISTICS - 2.0% (Continued) | |||||||
1,072 | Saia, Inc.(a) | $ 257,419 | |||||
5,896 | SkyWest, Inc. (a) | 275,048 | |||||
5,226 | Werner Enterprises, Inc.(b) | 246,458 | |||||
2,487,916 | |||||||
TRANSPORTATION EQUIPMENT - 0.2% | |||||||
8,844 | Trinity Industries, Inc.(b) | 256,741 | |||||
WHOLESALE - CONSUMER STAPLES - 0.2% | |||||||
4,221 | Calavo Growers, Inc. | 198,049 | |||||
WHOLESALE - DISCRETIONARY - 0.2% | |||||||
2,613 | ePlus, Inc.(a) | 282,779 | |||||
TOTAL COMMON STOCKS (Cost $105,505,515) | 120,992,476 | ||||||
WARRANT — 0.0%(c) | |||||||
OIL & GAS SERVICES & EQUIPMENT - 0.0% (c) | |||||||
972 | Nabors Industries Ltd. (a)(b) (Cost $0) | 5,638 | |||||
COLLATERAL FOR SECURITIES LOANED — 8.8% | |||||||
MONEY MARKET FUND - 8.8% | |||||||
10,771,797 | Fidelity Government Portfolio - Institutional Class, 0.01% (Cost $10,771,797)(d),(e) | 10,771,797 | |||||
TOTAL INVESTMENTS - 108.1% (Cost $116,277,312) | $ 131,769,911 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (8.1)% | (9,845,418) | ||||||
NET ASSETS - 100.0% | $ 121,924,493 | ||||||
(a) | Non-income producing security. |
(b) | All or a portion of the security is on loan. The total fair value of the securities on loan as of August 31, 2021 was $10,459,286. |
(c) | Percentage rounds to less than 0.1%. |
(d) | Security was purchased with cash received as collateral for securities on loan at August 31, 2021. Total collateral had a value of $10,771,797 at August 31, 2021. |
(e) | Rate disclosed is the seven day effective yield as of August 31, 2021. |