Form NPORT-P Emles Trust For: Mar 31

  
    NPORT-P
    false
    
      
      
        
          0001755351
          XXXXXXXX
        
      
      
      
      
        S000071225
        C000226057
      
      
    
  
  
    
      Emles Trust
      811-23431
      0001755351
      549300JRCLKDU3X4FS78
      5323 Anita Street
      Dallas
      
      75206
      833-673-2661
      Emles Alpha Opportunities ETF 
      S000071225
      549300RAG67WVMNRNK46
      2022-06-30
      2022-03-31
      N
    
    
      63379520.64
      10731018.82
      52648501.82
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      2658358.99
      
        
        
        
        
        
      
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        COMTECH TELECOMMUNICATIONS CORP.
        529900FTEZ8MGM0Y8F73
        
        205826209
        
          
        
        9731.00000000
        NS
        USD
        152679.39000000
        0.289997596744
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ETHAN ALLEN INTERIORS INC.
        N/A
        
        297602104
        
          
        
        18276.00000000
        NS
        USD
        476455.32000000
        0.904974127523
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE LGL GROUP, INC.
        5493005MPYH70BZ7T366
        
        50186A108
        
          
        
        191285.00000000
        NS
        USD
        2094570.75000000
        3.978405230145
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FORTINET, INC.
        549300O0QJWDBAS0QX03
        
        34959E109
        
          
        
        -770.00000000
        NS
        USD
        -263139.80000000
        -0.49980491543
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ALIBABA GROUP HOLDING LIMITED
        5493001NTNQJDH60PM02
        
        N/A
        
          
          
        
        100.00000000
        NC
        USD
        255000.00000000
        0.484344266569
        N/A
        DE
        
        KY
        
        N
        
        2
        
          
            
              CBOE GLOBAL MARKETS, INC.
              529900RLNSGA90UPEH54
            
            Call
            Purchased
            
              
                ALIBABA GROUP HOLDING LIMITED
                ALIBABA GROUP HOLDING SP ADR CALL OPTION
                
                  
                
              
            
            100.00000000
            100.00000000
            USD
            2023-01-20
            XXXX
            -125127.78000000
          
        
        
          N
          N
          N
        
      
      
        Lions Gate Entertainment Corp.
        5493000JSMHPHZURLM72
        
        535919401
        
          
        
        217297.00000000
        NS
        USD
        3531076.25000000
        6.706888378462
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ZOOM VIDEO COMMUNICATIONS, INC.
        549300T9GCHU0ODOM055
        
        98980L101
        
          
        
        800.00000000
        NS
        USD
        93784.00000000
        0.178132324297
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PURPLE INNOVATION, INC.
        N/A
        
        74640Y106
        
          
        
        70776.00000000
        NS
        USD
        414039.60000000
        0.786422378010
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        THE LGL GROUP, INC.
        5493005MPYH70BZ7T366
        
        N/A
        
          
          
        
        211739.00000000
        NS
        USD
        110093.69000000
        0.209110774654
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              CBOE EDGX U.S. EQUITIES EXCHANGE
              N/A
            
            Call
            Purchased
            
              
                THE LGL GROUP, INC.
                LGL GROUP INC WT
                
                  
                  
                  
                
              
            
            211739.00000000
            12.50000000
            USD
            2025-11-16
            XXXX
            13518.61000000
          
        
        
          N
          N
          N
        
      
      
        TRIUMPH GROUP, INC.
        5493007L6S47Q14SL582
        
        896818101
        
          
        
        14560.00000000
        NS
        USD
        368076.80000000
        0.699121128381
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LAZYDAYS HOLDINGS INC WRT
        N/A
        
        N/A
        
          
          
        
        155365.00000000
        NS
        USD
        630005.08000000
        1.196624895716
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              OTC Markets
              N/A
            
            Call
            Purchased
            
              
                LAZYDAYS HOLDINGS INC WRT
                LAZYDAYS HOLDINGS INC WRT
                
                  
                  
                
              
            
            155365.00000000
            11.50000000
            N/A
            2023-03-15
            XXXX
            81431.79000000
          
        
        
          N
          N
          N
        
      
      
        ALIBABA GROUP HOLDING LIMITED
        5493001NTNQJDH60PM02
        
        01609W102
        
          
        
        9397.00000000
        NS
        USD
        1022393.60000000
        1.941923444460
        Long
        
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SIGNET JEWELERS LIMITED
        549300N3XPGE91WV7M22
        
        G81276100
        
          
        
        80500.00000000
        NS
        USD
        5852350.00000000
        11.11589085670
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        HEICO CORPORATION
        529900O1DTDLCJ7L0I14
        
        422806208
        
          
        
        3380.00000000
        NS
        USD
        428685.40000000
        0.814240453537
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BIG LOTS, INC.
        N/A
        
        089302103
        
          
        
        13300.00000000
        NS
        USD
        460180.00000000
        0.874060959176
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CITIBANK NA
        N/A
        
        N/A
        
          
        
        3571243.90000000
        NS
        USD
        3571243.90000000
        6.783182382301
        Long
        STIV
        
        US
        
        N
        
        1
        
          
          N
          N
        
      
      
        THOR INDUSTRIES, INC.
        254900XZO1228PDSG060
        
        N/A
        
          
          
        
        400.00000000
        NC
        USD
        472000.00000000
        0.896511740474
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              CBOE GLOBAL MARKETS, INC.
              529900RLNSGA90UPEH54
            
            Call
            Purchased
            
              
                THOR INDUSTRIES, INC.
                THOR INDUSTRIES INC CALL OPTION
                
                  
                
              
            
            400.00000000
            70.00000000
            USD
            2022-06-17
            XXXX
            -285208.92000000
          
        
        
          N
          N
          N
        
      
      
        XEROX HOLDINGS CORPORATION
        5493000Y33XDVO2CXC18
        
        98421M106
        
          
        
        11880.00000000
        NS
        USD
        239619.60000000
        0.455130899677
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE CHEESECAKE FACTORY INCORPORATED
        529900872XMLK10SY247
        
        163072101
        
          
        
        6396.00000000
        NS
        USD
        254496.84000000
        0.483388569859
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MOHAWK INDUSTRIES, INC.
        549300JI1115MG3Q6322
        
        608190104
        
          
        
        2284.00000000
        NS
        USD
        283672.80000000
        0.538805075536
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE CHEFS' WAREHOUSE, INC.
        549300JYEDC8C547E980
        
        163086101
        
          
        
        11626.00000000
        NS
        USD
        379007.60000000
        0.719882972730
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        L3HARRIS TECHNOLOGIES, INC.
        549300UTE50ZMDBG8A20
        
        502431109
        
          
        
        -1000.00000000
        NS
        USD
        -248470.00000000
        -0.47194125456
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PMV Consumer Acquisition Corp
        N/A
        
        N/A
        
          
          
        
        64800.00000000
        NS
        USD
        15710.76000000
        0.029840849135
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              NYSE MKT LLC
              N/A
            
            Call
            Purchased
            
              
                PMV Consumer Acquisition Corp
                PMV CONSUMER ACQUISITION A
                
                  
                  
                  
                
              
            
            64800.00000000
            11.50000000
            USD
            2027-08-31
            XXXX
            -33347.74000000
          
        
        
          N
          N
          N
        
      
      
        LOCKHEED MARTIN CORPORATION
        DPRBOZP0K5RM2YE8UU08
        
        539830109
        
          
        
        -2200.00000000
        NS
        USD
        -971080.00000000
        -1.84445894266
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Direxion Daily Small Cap Bull 3X Shares
        N/A
        
        25459W847
        
          
        
        26266.00000000
        NS
        USD
        1654495.34000000
        3.142530713706
        Long
        
        RF
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        SCIENCE APPLICATIONS INTERNATIONAL CORPORATION
        549300LZPNZIXQGZPZ48
        
        808625107
        
          
        
        3149.00000000
        NS
        USD
        290243.33000000
        0.551285069786
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE MOSAIC COMPANY
        2YD5STGSJNMUB7H76907
        
        61945C103
        
          
        
        -7300.00000000
        NS
        USD
        -485450.00000000
        -0.92205852629
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PARTY CITY HOLDCO INC.
        549300BUAG9YASF5Q703
        
        702149105
        
          
        
        24500.00000000
        NS
        USD
        87710.00000000
        0.166595433807
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ALIBABA GROUP HOLDING LIMITED
        5493001NTNQJDH60PM02
        
        N/A
        
          
          
        
        200.00000000
        NC
        USD
        170000.00000000
        0.322896177713
        N/A
        DE
        
        KY
        
        N
        
        2
        
          
            
              CBOE GLOBAL MARKETS, INC.
              529900RLNSGA90UPEH54
            
            Call
            Purchased
            
              
                ALIBABA GROUP HOLDING LIMITED
                ALIBABA GROUP HOLDING CALL OPTION
                
                  
                
              
            
            200.00000000
            150.00000000
            USD
            2023-01-20
            XXXX
            -120309.21000000
          
        
        
          N
          N
          N
        
      
      
        AEROVIRONMENT, INC.
        529900PGHVI29YLZ6221
        
        008073108
        
          
        
        -3200.00000000
        NS
        USD
        -301248.00000000
        -0.57218722202
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LENNAR CORPORATION
        529900G61XVRLX5TJX09
        
        526057104
        
          
        
        2740.00000000
        NS
        USD
        222405.80000000
        0.422435192477
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MARRIOTT INTERNATIONAL, INC.
        225YDZ14ZO8E1TXUSU86
        
        571903202
        
          
        
        912.00000000
        NS
        USD
        160284.00000000
        0.304441711462
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BLOOMIN' BRANDS, INC.
        E1UJ2GO305B5FXGV7N04
        
        094235108
        
          
        
        9140.00000000
        NS
        USD
        200531.60000000
        0.380887571474
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NORDSTROM, INC.
        549300S3IZB5P35KNV16
        
        655664100
        
          
        
        9140.00000000
        NS
        USD
        247785.40000000
        0.470640932665
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        HIBBETT, INC.
        529900RD6P643J1CZM55
        
        428567101
        
          
        
        2000.00000000
        NS
        USD
        88680.00000000
        0.168437841409
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BRINKER INTERNATIONAL, INC.
        52990067JY6PBGJNTG76
        
        109641100
        
          
        
        7940.00000000
        NS
        USD
        302990.40000000
        0.575496717904
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        OppFi Inc
        N/A
        
        N/A
        
          
          
        
        470880.00000000
        NS
        USD
        242691.55000000
        0.460965728578
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              NYSE MKT LLC
              N/A
            
            Call
            Purchased
            
              
                OppFi Inc
                OPPFI INC
                
                  
                  
                  
                
              
            
            470880.00000000
            11.50000000
            USD
            2026-07-20
            XXXX
            -681287.06000000
          
        
        
          N
          N
          N
        
      
      
        Northrop Grumman Corporation
        RIMU48P07456QXSO0R61
        
        666807102
        
          
        
        -1100.00000000
        NS
        USD
        -491942.00000000
        -0.93438936150
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AAR CORP.
        MP76T5YQX3YK5VVAQ802
        
        000361105
        
          
        
        4590.00000000
        NS
        USD
        222293.70000000
        0.422222270939
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DARDEN RESTAURANTS, INC.
        CY1NFSCCB5GUXC7WZC70
        
        237194105
        
          
        
        3065.00000000
        NS
        USD
        407491.75000000
        0.773985461909
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SPIRIT AEROSYSTEMS HOLDINGS, INC.
        N/A
        
        848574109
        
          
        
        29876.00000000
        NS
        USD
        1460637.64000000
        2.774319476352
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Dreyfus Government Cash Management Funds: Dreyfus Government Cash Management; Institutional Shares
        N/A
        
        262006208
        
          
        
        675750.01000000
        NS
        USD
        675750.01000000
        1.283512325403
        Long
        STIV
        RF
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        RAYTHEON TECHNOLOGIES CORPORATION
        I07WOS4YJ0N7YRFE7309
        
        75513E101
        
          
        
        -2450.00000000
        NS
        USD
        -242721.50000000
        -0.46102261528
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE HOWARD HUGHES CORPORATION
        549300BVHY25JZC1KI49
        
        44267D107
        
          
        
        2328.00000000
        NS
        USD
        241204.08000000
        0.458140444004
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Lions Gate Entertainment Corp.
        5493000JSMHPHZURLM72
        
        535919500
        
          
        
        92850.00000000
        NS
        USD
        1395535.50000000
        2.650665169488
        Long
        EC
        CORP
        CA
        
        N
        
        1
        
          N
          N
          N
        
      
      
        WELLS FARGO & COMPANY
        PBLD0EJDB5FWOLXP3B76
        
        949746101
        
          
        
        5440.00000000
        NS
        USD
        263622.40000000
        0.500721560703
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LAZYDAYS HOLDINGS, INC.
        5493006PPWVM3TDVJH23
        
        52110H100
        
          
        
        211826.00000000
        NS
        USD
        4274648.68000000
        8.119221881402
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        RH
        5493008MTS3OGGMHGK69
        
        74967X103
        
          
        
        3208.00000000
        NS
        USD
        1046096.72000000
        1.986944896507
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NEWELL BRANDS INC.
        549300LWGYFM1TVO1Z12
        
        651229106
        
          
        
        14763.00000000
        NS
        USD
        316075.83000000
        0.600351043379
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE GAP, INC.
        T2ZG1WRWZ4BUCMQL9224
        
        364760108
        
          
        
        70204.00000000
        NS
        USD
        988472.32000000
        1.877493728842
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SIGNET JEWELERS LIMITED
        549300N3XPGE91WV7M22
        
        N/A
        
          
          
        
        -400.00000000
        NC
        USD
        -4000.00000000
        -0.00759755712
        N/A
        DE
        
        BM
        
        N
        
        2
        
          
            
              CBOE GLOBAL MARKETS, INC.
              529900RLNSGA90UPEH54
            
            Call
            Written
            
              
                SIGNET JEWELERS LIMITED
                SIGNET JEWELERS LTD CALL OPTION
                
                  
                
              
            
            400.00000000
            130.00000000
            USD
            2022-04-14
            XXXX
            166343.62000000
          
        
        
          N
          N
          N
        
      
      
        INVESCO LTD.
        ECPGFXU8A2SHKVVGJI15
        
        G491BT108
        
          
        
        24632.00000000
        NS
        USD
        568013.92000000
        1.078879550916
        Long
        EC
        CORP
        BM
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DINE BRANDS GLOBAL, INC.
        529900HKM8OWSHLKJY75
        
        254423106
        
          
        
        18052.00000000
        NS
        USD
        1407153.40000000
        2.672732084211
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DICK'S SPORTING GOODS, INC.
        529900SSBV5I4LWSK313
        
        N/A
        
          
          
        
        200.00000000
        NC
        USD
        310000.00000000
        0.588810677006
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              CBOE GLOBAL MARKETS, INC.
              529900RLNSGA90UPEH54
            
            Call
            Purchased
            
              
                DICK'S SPORTING GOODS, INC.
                DICKS S SPORTING GOODS INC CALL OPTION
                
                  
                
              
            
            200.00000000
            100.00000000
            USD
            2023-01-20
            XXXX
            -204807.04000000
          
        
        
          N
          N
          N
        
      
      
        KOHL'S CORPORATION
        549300JF6LPRTRJ0FH50
        
        500255104
        
          
        
        93485.00000000
        NS
        USD
        5652103.10000000
        10.73554404135
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MACY'S, INC.
        529900NZQ81TIOW3CW52
        
        55616P104
        
          
        
        20909.00000000
        NS
        USD
        509343.24000000
        0.967441090235
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MGM RESORTS INTERNATIONAL
        54930066VBP7DZEGGJ87
        
        552953101
        
          
        
        14872.00000000
        NS
        USD
        623731.68000000
        1.184709267003
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CAMPING WORLD HOLDINGS, INC.
        549300E828QQI7MWI432
        
        13462K109
        
          
        
        119028.00000000
        NS
        USD
        3326832.60000000
        6.318950179008
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        CAESARS ENTERTAINMENT, INC.
        549300FA4CTCW903Y781
        
        12769G100
        
          
        
        3656.00000000
        NS
        USD
        282828.16000000
        0.537200775374
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        RED ROCK RESORTS, INC.
        N/A
        
        75700L108
        
          
        
        7312.00000000
        NS
        USD
        355070.72000000
        0.674417519446
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TESLA, INC.
        54930043XZGB27CTOV49
        
        88160R101
        
          
        
        -2700.00000000
        NS
        USD
        -2909520.00000000
        -5.52631109988
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DAVE & BUSTER'S ENTERTAINMENT, INC.
        529900WTVU85QZLYHR86
        
        238337109
        
          
        
        16175.00000000
        NS
        USD
        794192.50000000
        1.508480721284
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        WINNEBAGO INDUSTRIES, INC.
        549300B7OYKYJLTE3G11
        
        974637100
        
          
        
        18320.00000000
        NS
        USD
        989829.60000000
        1.880071731925
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        DEERE & COMPANY
        PWFTNG3EI0Y73OXWDH08
        
        244199105
        
          
        
        -2300.00000000
        NS
        USD
        -955558.00000000
        -1.81497662225
        Short
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FLUOR CORPORATION
        CQ7WZ4NOFWT7FAE6Q943
        
        343412102
        
          
        
        71186.00000000
        NS
        USD
        2042326.34000000
        3.879172757816
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        THE CHILDREN'S PLACE, INC.
        549300BGVK2OO5O7TC19
        
        168905107
        
          
        
        79092.00000000
        NS
        USD
        3899235.60000000
        7.406166301428
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        EXXON MOBIL CORPORATION
        J3WHBG0MTS7O8ZVMDC91
        
        30231G102
        
          
        
        1828.00000000
        NS
        USD
        150974.52000000
        0.286759384941
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        RED ROBIN GOURMET BURGERS, INC.
        529900V6NUMBYX34LV46
        
        75689M101
        
          
        
        14545.00000000
        NS
        USD
        245228.70000000
        0.465784764091
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        OppFi Inc
        N/A
        
        68386H103
        
          
        
        25913.00000000
        NS
        USD
        88881.59000000
        0.168820739294
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        WYNN RESORTS, LIMITED
        254900CEKKWIHTEAB172
        
        983134107
        
          
        
        1828.00000000
        NS
        USD
        145764.72000000
        0.276863946667
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THOR INDUSTRIES, INC.
        254900XZO1228PDSG060
        
        885160101
        
          
        
        30979.00000000
        NS
        USD
        2438047.30000000
        4.630800907375
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          
        
      
      
        TRANSDIGM GROUP INCORPORATED
        N/A
        
        893641100
        
          
        
        184.00000000
        NS
        USD
        119883.36000000
        0.227705168914
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-05-02
      Emles Trust
      Peter Sattelmair
      Peter Sattelmair
      Treasurer
    
  
  XXXX

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles @Home ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Information Technology			50.2
Industrials			16.9
Communication Services			14.1
Consumer Staples			11.2
Consumer Discretionary			7.6
Total			100.0

 

Country		Percentage of Investments (%)
United States			90.6
Canada			5.7
Taiwan			3.7
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Shares		Security Description		Value ($)
Common Stocks (99.6%)
Communication Services (14.1%)
1,434		Comcast Corp.			67,140
267		Meta Platforms, Inc.(a)			59,370
219		Netflix, Inc.(a)			82,036
1,255		ROBLOX Corp., Class A(a)			58,031
2,709		TripAdvisor, Inc.(a)			73,468
1,100		Verizon Communications, Inc.			56,034
					396,079
Consumer Discretionary (7.6%)
570		Etsy, Inc.(a)			70,840
216		Lululemon Athletica, Inc.(a)			78,890
1,074		YETI Holdings, Inc.(a)			64,418
					214,148
Consumer Staples (11.1%)
898		Procter & Gamble Co. (The)			137,214
434		Sanderson Farms, Inc.			81,371
639		Walmart, Inc.			95,160
					313,745
Industrials (16.8%)
2,112		GXO Logistics, Inc.(a)			150,670
595		Insperity, Inc.			59,750
355		JB Hunt Transport Services, Inc.			71,280
1,708		Korn Ferry			110,918
753		TFI International, Inc.			80,202
					472,820
Information Technology (50.0%)
119		Adobe, Inc.(a)			54,219
535		Akamai Technologies, Inc.(a)			63,874
691		Analog Devices, Inc.			114,139
657		Apple, Inc.			114,719
133		Broadcom, Inc.			83,747
545		Crowdstrike Holdings, Inc., Class A(a)			123,759
456		Microsoft Corp.			140,589
632		NVIDIA Corp.			172,448
191		Palo Alto Networks, Inc.(a)			118,899
639		Paychex, Inc.			87,204
528		PayPal Holdings, Inc.(a)			61,063
757		QUALCOMM, Inc.			115,685
1,001		Taiwan Semiconductor Manufacturing Co., Ltd. ADR			104,364
228		Workday, Inc., Class A(a)			54,597
					1,409,306
Total Common Stocks (Cost $2,789,554)					2,806,098
Total Investments (Cost $2,789,554) — 99.6%					2,806,098
Other assets in excess of liabilities — 0.4%					11,450
Net Assets — 100.0%				$	2,817,548

 

(a)

Non-income producing

 

ADR

American Depositary Receipt

 

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles Made in America ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Consumer Staples			40.0
Materials			27.5
Industrials			26.7
Consumer Discretionary			3.7
Health Care			1.8
Real Estate			0.3
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Shares		Security Description		Value ($)
Common Stocks (99.7%)
Consumer Discretionary (3.6%)
248		LCI Industries			25,745
473		Polaris, Inc.(a)			49,816
478		Skyline Champion Corp.(b)			26,233
316		Sleep Number Corp.(b)			16,024
637		Vista Outdoor, Inc.(b)			22,734
386		Winnebago Industries, Inc.			20,856
					161,408
Consumer Staples (39.9%)
4,198		Altria Group, Inc.			219,345
2,802		BellRing Brands, Inc.(b)			64,670
95		Boston Beer Co., Inc. (The), Class A(b)			36,905
2,075		Campbell Soup Co.			92,483
325		Central Garden & Pet Co.(b)			14,287
1,502		Church & Dwight Co., Inc.			149,269
3,409		Conagra Brands, Inc.			114,440
1,753		Flowers Foods, Inc.			45,069
851		Hershey Co. (The)			184,352
3,068		Hormel Foods Corp.			158,125
719		J M Smucker Co. (The)			97,360
5,781		Keurig Dr Pepper, Inc.			219,100
242		Lancaster Colony Corp.			36,094
485		Post Holdings, Inc.(b)			33,591
1,632		Reynolds Consumer Products, Inc.			47,883
185		Sanderson Farms, Inc.			34,686
267		Seneca Foods Corp.(b)			13,761
696		TreeHouse Foods, Inc.(b)			22,453
1,813		Tyson Foods, Inc.			162,499
2,022		Vector Group, Ltd.			24,345
					1,770,717
Health Care (1.8%)
603		Emergent BioSolutions, Inc.(b)			24,759
316		United Therapeutics Corp.(b)			56,694
					81,453
Industrials (26.6%)
512		Advanced Drainage Systems, Inc.			60,831
277		American Woodmark Corp.(b)			13,559
388		Apogee Enterprises, Inc.			18,414
444		Arcosa, Inc.			25,419
372		Atkore, Inc.(b)			36,620
727		BWX Technologies, Inc.			39,156
1,109		Cornerstone Building Brands, Inc.(b)			26,971
197		Encore Wire Corp.			22,472

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Made in America ETF

 

Shares		Security Description		Value ($)
Common Stocks (continued)
Industrials (continued)
913		Fortune Brands Home & Security, Inc.			67,818
913		General Dynamics Corp.			220,197
582		HNI Corp.			21,563
363		Hubbell, Inc.			66,709
270		Huntington Ingalls Industries, Inc.			53,849
257		Lennox International, Inc.			66,270
536		Mueller Industries, Inc.			29,035
484		Northrop Grumman Corp.			216,455
500		Oshkosh Corp.			50,325
1,183		REV Group, Inc.			15,852
341		Simpson Manufacturing Co., Inc.			37,183
495		SPX Corp.(b)			24,458
388		Steel Partners Holdings, LP			16,125
483		UFP Industries, Inc.			37,268
1,010		Wabash National Corp.			14,988
					1,181,537
Materials (27.4%)
488		Clearwater Paper Corp.(b)			13,679
2,781		Cleveland-Cliffs, Inc.(b)			89,576
313		Eagle Materials, Inc.			40,177
712		Louisiana-Pacific Corp.			44,229
385		Martin Marietta Materials, Inc.			148,183
1,610		Nucor Corp.			239,326
422		Olympic Steel, Inc.			16,230
598		Packaging Corp. of America			93,354
413		Reliance Steel & Aluminum Co.			75,723
467		Scotts Miracle-Gro Co. (The)			57,422
1,232		Steel Dynamics, Inc.			102,786
1,078		Summit Materials, Inc.(b)			33,483
827		Vulcan Materials Co.			151,920
1,843		Westrock Co.			86,676
468		Worthington Industries, Inc.			24,060
					1,216,824
Real Estate (0.4%)
2,069		Douglas Elliman, Inc.			15,104
Total Common Stocks (Cost $3,767,218)					4,427,043
Total Investments (Cost $3,767,218) — 99.7%					4,427,043
Other assets in excess of liabilities — 0.3%					13,756
Net Assets — 100.0%				$	4,440,799

 

(a)	This security or a partial position of this security was on loan as of March 31, 2022. The total value of securities on loan as of March 31, 2022 was $49,079.
(b)	Non-income producing

LP	Limited Partnership

 

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles Real Estate Credit ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Real Estate			89.5
Consumer Discretionary			6.8
Industrials			2.0
Financials			1.1
Communication Services			0.6
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Principal Amount ($)		Security Description		Value ($)
Corporate Bonds (98.7%)
Communication Services (0.6%)
31,000		Lamar Media Corp., 3.75%, 2/15/28, Callable 2/15/23 @ 102			29,436
Consumer Discretionary (6.7%)
30,000		D.R. Horton, Inc., 1.40%, 10/15/27, Callable 8/15/27 @ 100			26,837
40,000		Lennar Corp., 4.75%, 11/29/27, Callable 5/29/27 @ 100			41,731
40,000		MDC Holdings, Inc., 6.00%, 1/15/43, Callable 10/15/42 @ 100			41,094
66,000		NVR, Inc., 3.00%, 5/15/30, Callable 11/15/29 @ 100			61,608
22,000		PulteGroup, Inc., 5.00%, 1/15/27, Callable 10/15/26 @ 100			23,210
58,000		Taylor Morrison Communities, Inc., 5.13%, 8/1/30, Callable 2/1/30 @ 100(a)			56,840
58,000		Toll Brothers Finance Corp., 3.80%, 11/1/29, Callable 8/1/29 @ 100			56,085
					307,405
Financials (1.1%)
49,000		Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 5.88%, 10/1/28, Callable 10/1/23 @ 103(a)			48,755
Industrials (2.0%)
87,000		CoreCivic, Inc., 8.25%, 4/15/26, Callable 4/15/24 @ 104			90,288
Real Estate (88.3%)
119,000		Alexandria Real Estate Equities, Inc., 3.00%, 5/18/51, Callable 11/18/50 @ 100			100,072
62,000		Alexandria Real Estate Equities, Inc., 3.45%, 4/30/25, Callable 2/28/25 @ 100			62,461
47,000		Alexandria Real Estate Equities, Inc., 4.90%, 12/15/30, Callable 9/15/30 @ 100			51,967
50,000		American Tower Corp., 1.45%, 9/15/26, Callable 8/15/26 @ 100			45,681
53,000		American Tower Corp., 1.88%, 10/15/30, Callable 7/15/30 @ 100			45,121

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Real Estate Credit ETF

 

Principal Amount ($)		Security Description		Value ($)
Corporate Bonds (continued)
Real Estate (continued)
49,000		American Tower Corp., 2.10%, 6/15/30, Callable 3/15/30 @ 100			42,739
118,000		American Tower Corp., 3.38%, 10/15/26, Callable 7/15/26 @ 100			116,575
100,000		American Tower Corp., 3.80%, 8/15/29, Callable 5/15/29 @ 100			99,525
47,000		AvalonBay Communities, Inc., 2.30%, 3/1/30, Callable 12/1/29 @ 100			44,034
29,000		AvalonBay Communities, Inc., 3.20%, 1/15/28, Callable 10/15/27 @ 100, MTN			28,689
47,000		Boston Properties, LP, 2.90%, 3/15/30, Callable 12/15/29 @ 100			44,484
76,000		Boston Properties, LP, 3.25%, 1/30/31, Callable 10/30/30 @ 100			73,512
63,000		Boston Properties, LP, 4.50%, 12/1/28, Callable 9/1/28 @ 100			66,211
47,000		Brixmor Operating Partnership, LP, 3.85%, 2/1/25, Callable 11/1/24 @ 100			47,391
25,000		Brixmor Operating Partnership, LP, 3.90%, 3/15/27, Callable 12/15/26 @ 100			25,242
49,000		Brixmor Operating Partnership, LP, 4.13%, 5/15/29, Callable 2/15/29 @ 100			50,264
49,000		Camden Property Trust, 2.80%, 5/15/30, Callable 2/15/30 @ 100			47,099
55,000		CBRE Services, Inc., 2.50%, 4/1/31, Callable 1/1/31 @ 100			49,701
50,000		Crown Castle International Corp., 1.05%, 7/15/26, Callable 6/15/26 @ 100			45,233
91,000		Crown Castle International Corp., 2.10%, 4/1/31, Callable 1/1/31 @ 100			78,707
49,000		Crown Castle International Corp., 3.30%, 7/1/30, Callable 4/1/30 @ 100			46,880
58,000		Crown Castle International Corp., 4.30%, 2/15/29, Callable 11/15/28 @ 100			59,636
30,000		CTR Partnership, LP, 3.88%, 6/30/28, Callable 3/30/28 @ 100(a)			28,200

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Real Estate Credit ETF

 

Principal Amount ($)		Security Description		Value ($)
Corporate Bonds (continued)
Real Estate (continued)
42,000		CyrusOne, LP / CyrusOne Finance Corp., 3.45%, 11/15/29			43,260
58,000		Digital Realty Trust, LP, 3.60%, 7/1/29, Callable 4/1/29 @ 100			57,744
25,000		Duke Realty, LP, 2.88%, 11/15/29, Callable 8/15/29 @ 100			23,968
35,000		EPR Properties, 3.75%, 8/15/29, Callable 5/15/29 @ 100			32,766
29,000		EPR Properties, 4.50%, 6/1/27, Callable 3/1/27 @ 100			28,638
35,000		Equinix, Inc., 1.25%, 7/15/25, Callable 6/15/25 @ 100			32,667
93,000		Equinix, Inc., 1.45%, 5/15/26, Callable 4/15/26 @ 100			85,427
30,000		Equinix, Inc., 1.80%, 7/15/27, Callable 5/15/27 @ 100			27,320
42,000		ERP Operating, LP, 2.50%, 2/15/30, Callable 11/15/29 @ 100			39,581
42,000		ERP Operating, LP, 3.00%, 7/1/29, Callable 4/1/29 @ 100			41,170
25,000		ERP Operating, LP, 4.15%, 12/1/28, Callable 9/1/28 @ 100			25,863
40,000		Extra Space Storage, LP, 2.55%, 6/1/31, Callable 3/1/31 @ 100			36,090
20,000		Federal Realty Investment Trust, 3.50%, 6/1/30, Callable 3/1/30 @ 100			19,630
47,000		GLP Capital, LP / GLP Financing II, Inc., 4.00%, 1/15/30, Callable 10/15/29 @ 100			45,619
35,000		GLP Capital, LP / GLP Financing II, Inc., 5.75%, 6/1/28, Callable 3/3/28 @ 100			37,670
43,000		Healthpeak Properties, Inc., 3.25%, 7/15/26, Callable 5/15/26 @ 100			42,989
89,000		Host Hotels & Resorts, LP, 3.50%, 9/15/30, Callable 6/15/30 @ 100			84,869
50,000		Howard Hughes Corp. (The), 4.38%, 2/1/31, Callable 2/1/26 @ 102(a)			47,025
70,000		Iron Mountain, Inc., 4.50%, 2/15/31, Callable 2/15/26 @ 102(a)			64,646
28,000		Kilroy Realty, LP, 2.50%, 11/15/32, Callable 8/15/32 @ 100			24,340
35,000		Kimco Realty Corp., 3.30%, 2/1/25, Callable 12/1/24 @ 100			34,873
35,000		Life Storage, LP, 3.88%, 12/15/27, Callable 9/15/27 @ 100			35,453
49,000		MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc., 5.75%, 2/1/27, Callable 11/1/26 @ 100			51,756
25,000		Mid-America Apartments, LP, 3.75%, 6/15/24, Callable 3/15/24 @ 100			25,378
38,000		Mid-America Apartments, LP, 3.95%, 3/15/29, Callable 12/15/28 @ 100			39,134
58,000		MPT Operating Partnership, LP / MPT Finance Corp., 4.63%, 8/1/29, Callable 8/1/24 @ 102			57,420
30,000		National Retail Properties, Inc., 3.50%, 4/15/51, Callable 10/15/50 @ 100			26,372
43,000		Office Properties Income Trust, 4.50%, 2/1/25, Callable 11/1/24 @ 100			42,960

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Real Estate Credit ETF

 

Principal Amount ($)		Security Description		Value ($)
Corporate Bonds (continued)
Real Estate (continued)
35,000		Omega Healthcare Investors, Inc., 3.63%, 10/1/29, Callable 7/1/29 @ 100			33,074
38,000		Omega Healthcare Investors, Inc., 4.75%, 1/15/28, Callable 10/15/27 @ 100			38,685
23,000		Outfront Media Capital LLC / Outfront Media Capital Corp., 4.25%, 1/15/29, Callable 1/15/24 @ 102(a)			21,396
50,000		Physicians Realty, LP, 2.63%, 11/1/31, Callable 8/1/31 @ 100			45,116
49,000		Prologis, LP, 1.25%, 10/15/30, Callable 7/15/30 @ 100			41,725
63,000		Prologis, LP, 2.25%, 4/15/30, Callable 1/15/30 @ 100			58,538
34,000		Public Storage, 3.09%, 9/15/27, Callable 6/15/27 @ 100			34,064
42,000		Realty Income Corp., 3.00%, 1/15/27, Callable 10/15/26 @ 100			41,414
38,000		Realty Income Corp., 3.65%, 1/15/28, Callable 10/15/27 @ 100			38,241
35,000		Realty Income Corp., 3.88%, 4/15/25, Callable 2/15/25 @ 100			35,443
21,000		Realty Income Corp., 4.13%, 10/15/26, Callable 7/15/26 @ 100			21,680
44,000		Realty Income Corp., 4.63%, 11/1/25, Callable 9/1/25 @ 100			46,100
30,000		Regency Centers, LP, 4.40%, 2/1/47, Callable 8/1/46 @ 100			30,794
34,000		Sabra Health Care, LP, 5.13%, 8/15/26, Callable 5/15/26 @ 100			34,821
88,000		SBA Communications Corp., 3.88%, 2/15/27, Callable 2/15/23 @ 102			85,710
53,000		Service Properties Trust, 4.35%, 10/1/24, Callable 9/1/24 @ 100			51,097
53,000		Service Properties Trust, 7.50%, 9/15/25, Callable 6/15/25 @ 100			55,639
63,000		Simon Property Group, LP, 2.00%, 9/13/24, Callable 6/13/24 @ 100			61,891
40,000		Simon Property Group, LP, 2.20%, 2/1/31, Callable 11/1/30 @ 100			36,001
49,000		Simon Property Group, LP, 2.65%, 7/15/30, Callable 4/15/30 @ 100			46,179
49,000		Simon Property Group, LP, 3.38%, 12/1/27, Callable 9/1/27 @ 100			48,780
70,000		Simon Property Group, LP, 3.50%, 9/1/25, Callable 6/1/25 @ 100			70,700
29,000		SITE Centers Corp., 4.70%, 6/1/27, Callable 3/1/27 @ 100			30,059
29,000		Spirit Realty, LP, 3.20%, 2/15/31, Callable 11/15/30 @ 100			27,661
75,000		UDR, Inc., 2.10%, 8/1/32, Callable 5/1/32 @ 100			64,648
25,000		UDR, Inc., 3.00%, 8/15/31, Callable 5/15/31 @ 100			23,728
29,000		Ventas Realty, LP, 2.65%, 1/15/25, Callable 12/15/24 @ 100			28,481
29,000		Ventas Realty, LP, 3.25%, 10/15/26, Callable 7/15/26 @ 100			28,750

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Real Estate Credit ETF

 

Principal Amount ($)		Security Description		Value ($)
Corporate Bonds (continued)
Real Estate (continued)
34,000		Ventas Realty, LP, 4.13%, 1/15/26, Callable 10/15/25 @ 100			34,812
34,000		Ventas Realty, LP, 4.75%, 11/15/30, Callable 8/15/30 @ 100			36,187
63,000		VICI Properties, LP / VICI Note Co., Inc., 4.13%, 8/15/30, Callable 2/15/25 @ 102(a)			60,818
63,000		VICI Properties, LP / VICI Note Co., Inc., 4.63%, 12/1/29, Callable 12/1/24 @ 102(a)			63,000
15,000		Welltower, Inc., 2.75%, 1/15/31, Callable 10/15/30 @ 100			13,978
67,000		Welltower, Inc., 4.00%, 6/1/25, Callable 3/1/25 @ 100			68,103
47,000		Welltower, Inc., 4.25%, 4/1/26, Callable 1/1/26 @ 100			48,290
50,000		Weyerhaeuser Co., 4.00%, 4/15/30, Callable 1/15/30 @ 100			51,495
34,000		WP Carey, Inc., 4.60%, 4/1/24, Callable 1/1/24 @ 100			34,895
					4,046,045
Total Corporate Bonds (Cost $4,880,709)					4,521,929
Total Investments (Cost $4,880,709) — 98.7%					4,521,929
Other assets in excess of liabilities — 1.3%					59,632
Net Assets — 100.0%				$	4,581,561

 

(a)

Rule 144A, Section 4(2), or other security which is restricted as to resale to institutional investors. The Fund’s Advisor has deemed this security to be liquid based upon procedures approved by the Board of Trustees. The aggregate value of these securities at March 31, 2022 was $390,680 and represents 8.5% of the net assets of the fund.

 

LLC	Limited Liability Corporation
LP	Limited Partnership
MTN	Medium Term Note

 

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles Luxury Goods ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Consumer Discretionary			72.2
Consumer Staples			19.8
Information Technology			8.0
Total			100.0

 

Country		Percentage of Investments (%)
United States			29.5
France			26.5
Germany			12.2
Italy			10.8
United Kingdom			6.5
Japan			4.8
Switzerland			3.2
Canada			2.8
China			1.4
Brazil			1.2
Hong Kong			1.1
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the tables above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Shares		Security Description		Value ($)
Common Stocks (99.9%)
Consumer Discretionary (72.2%)
437		adidas AG			103,031
1,320		Bayerische Motoren Werke AG			115,439
1,146		Brunello Cucinelli SpA(a)			67,707
2,963		Burberry Group PLC			65,307
2,256		Canada Goose Holdings, Inc.(a)			59,333
1,217		Capri Holdings, Ltd.(a)			62,542
36,291		Chow Tai Fook Jewellery Group, Ltd.			66,081
273		Christian Dior SE			187,870
991		Cie Financiere Richemont SA			127,072
1,967		Daimler AG			139,653
5,353		Ermenegildo Zegna Holditalia SpA(a)(b)			56,474
750		EssilorLuxottica SA			138,774
1,837		Fast Retailing Co., Ltd. ADR			94,293
471		Ferrari NV			104,130
149		Hermes International			214,110
1,154		HUGO BOSS AG			67,589
218		Kering SA			139,640
9,758		Li Ning Co., Ltd.			84,230
299		Lululemon Athletica, Inc.(a)			109,204
603		LVMH Moet Hennessy Louis Vuitton SE			435,698
1,280		Moncler SpA			72,263
4,315		MYT Netherlands Parent BV ADR(a)			52,772
1,697		NIKE, Inc.			228,348
823		Porsche Automobil Holding SE			80,491
13,152		Prada SpA			83,550
528		Ralph Lauren Corp.			59,896
1,159		Revolve Group Inc.(a)			62,227
175		RH(a)			57,066
3,102		Salvatore Ferragamo SpA(a)			59,295
1,570		Sanlorenzo SpA Ameglia			64,197
226		Swatch Group AG (The)			64,761

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Luxury Goods ETF

 

Shares		Security Description		Value ($)
Common Stocks (continued)
Consumer Discretionary (continued)
1,745		Tapestry, Inc.			64,827
511		Tesla, Inc.(a)			550,654
1,323		Tod’s SpA(a)			60,118
562		Volkswagen AG			98,173
4,064		Watches of Switzerland Group PLC(a)(c)			61,000
421		Williams-Sonoma, Inc.(b)			61,045
1,297		Zalando SE(a)(c)			66,383
					4,285,243
Consumer Staples (19.8%)
1,107		Brown-Forman Corp.			74,191
6,191		Davide Campari-Milano NV			72,707
3,796		Diageo PLC			193,099
422		Estee Lauder Cos. (The)			114,919
8,421		Kao Corp. ADR			67,663
2,441		Kose Corp. ADR			50,480
678		L’Oreal SA			274,478
13,352		Natura & Co. Holding SA(a)			73,195
527		Pernod Ricard SA			116,862
323		Remy Cointreau SA			67,205
1,363		Shiseido Co., Ltd. ADR			68,832
					1,173,631
Information Technology (7.9%)
2,703		Apple, Inc.			471,971
Total Common Stocks (Cost $6,119,761)					5,930,845
Total Investments (Cost $6,119,761) — 99.9%					5,930,845
Other assets in excess of liabilities — 0.1%					8,105
Net Assets — 100.0%				$	5,938,950

 

(a)	Non-income producing
(b)	This security or a partial position of this security was on loan as of March 31, 2022. The total value of securities on loan as of March 31, 2022 was $69,340.
(c)	Rule 144A, Section 4(2), or other security which is restricted as to resale to institutional investors. The Fund’s Advisor has deemed this security to be liquid based upon procedures approved by the Board of Trustees. The aggregate value of these securities at March 31, 2022 was $127,383 and represents 2.1% of the net assets of the fund.

 

ADR	American Depositary Receipt
PLC	Public Limited Company
SA	Special Assessment

 

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles Federal Contractors ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Industrials			87.0
Information Technology			7.9
Real Estate			2.6
Health Care			2.5
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Shares		Security Description		Value ($)
Common Stocks (99.9%)
Health Care (2.6%)
2,075		Emergent BioSolutions, Inc.(a)			85,200
Industrials (86.8%)
1,052		Ameresco, Inc.(a)			83,634
1,460		Booz Allen Hamilton Holding Corp.			128,246
341		CACI International, Inc.(a)			102,730
2,957		Fluor Corp.(a)			84,836
1,255		General Dynamics Corp.			302,681
1,603		Honeywell International, Inc.			311,912
526		Huntington Ingalls Industries, Inc.			104,905
1,179		Jacobs Engineering Group, Inc.			162,478
1,931		KBR, Inc.			105,684
4,264		Kratos Defense & Security Solutions, Inc.(a)			87,327
614		L3Harris Technologies, Inc.			152,561
1,347		Leidos Holdings, Inc.			145,503
665		Lockheed Martin Corp.			293,531
959		ManTech International Corp.			82,656
665		Northrop Grumman Corp.			297,401
2,414		Parsons Corp.(a)			93,422
2,999		Raytheon Technologies Corp.			297,111
1,073		Science Applications International Corp.			98,898
					2,935,516
Information Technology (7.9%)
1,259		Maximus, Inc.			94,362
367		Teledyne Technologies, Inc.(a)			173,455
					267,817
Real Estate (2.6%)
13,140		GEO Group, Inc. (The)(a)(b)			86,855
Total Common Stocks (Cost $3,208,661)					3,375,388
Total Investments (Cost $3,208,661) — 99.9%					3,375,388
Other assets in excess of liabilities — 0.1%					5,058
Net Assets — 100.0%				$	3,380,446

 

(a)	Non-income producing
(b)	This security or a partial position of this security was on loan as of March 31, 2022. The total value of securities on loan as of March 31, 2022 was $2,466.

 

 

Schedule of Investments	March 31, 2022 (Unaudited)
Emles Alpha Opportunities ETF

 

Schedule of Investments Summary Table

 

Holdings by Sector		Percentage of Investments (%)
Consumer Discretionary			71.7
Communication Services			9.9
Information Technology			4.9
Industrials			3.5
Financials			2.3
Consumer Staples			0.8
Real Estate			0.5
Energy			0.3
Materials			(1.0	)
Mutual Fund			7.1
Total			100.0

 

Country		Percentage of Investments (%)
United States			97.4
China			2.1
Cayman Islands			0.5
Total			100.0

 

Portfolio holdings and allocations are subject to change. As of March 31, 2022, percentages in the table above are based on total investments. Such total investments may differ from the percentages set forth in the following Schedule of Investments which are computed using the Fund’s total net assets.

 

Shares		Security Description		Value ($)
Common Stocks (98.6%)
Communication Services (9.4%)
217,297		Lions Gate Entertainment Corp., Class A(a)			3,531,076
92,850		Lions Gate Entertainment Corp., Class B(a)			1,395,536
					4,926,612
Consumer Discretionary (71.7%)
9,397		Alibaba Group Holding, Ltd. ADR(a)			1,022,394
13,300		Big Lots Inc.			460,180
9,140		Bloomin’ Brands, Inc.			200,532
7,940		Brinker International, Inc.(a)			302,990
3,656		Caesars Entertainment, Inc.(a)			282,828
119,028		Camping World Holdings, Inc., Class A(b)			3,326,833
6,396		Cheesecake Factory, Inc. (The)(a)			254,497
79,092		Children’s Place, Inc. (The)(a)			3,899,236
3,065		Darden Restaurants, Inc.			407,492
16,175		Dave & Buster’s Entertainment, Inc.(a)			794,192
18,052		Dine Brands Global, Inc.			1,407,152
18,276		Ethan Allen Interiors, Inc.			476,454
70,204		Gap, Inc. (The)			988,472
2,000		Hibbett  Inc.			88,680
93,485		Kohl’s Corp.			5,652,104
211,826		Lazydays Holdings, Inc.(a)(b)			4,274,649
2,740		Lennar Corp., Class A			222,406
20,909		Macy’s, Inc.			509,343
912		Marriott International, Inc., Class A(a)			160,284
14,872		MGM Resorts International			623,732
2,284		Mohawk Industries, Inc.(a)			283,673
14,763		Newell Brands, Inc.			316,076
9,140		Nordstrom, Inc.(b)			247,785
24,500		Party City Holdco Inc.(a)			87,710
70,776		Purple Innovation, Inc.(a)(b)			414,040
14,545		Red Robin Gourmet Burgers, Inc.(a)			245,229

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Alpha Opportunities ETF

 

Shares		Security Description		Value ($)
Common Stocks (continued)
Consumer Discretionary (continued)
7,312		Red Rock Resorts, Inc., Class A			355,071
3,208		RH(a)			1,046,097
80,500		Signet Jewelers, Ltd.			5,852,349
30,979		Thor Industries, Inc.(b)			2,438,047
18,320		Winnebago Industries, Inc.(b)			989,830
1,828		Wynn Resorts, Ltd.(a)			145,765
					37,776,122
Consumer Staples (0.7%)
11,626		Chefs’ Warehouse, Inc. (The)(a)			379,008
Energy (0.3%)
1,828		Exxon Mobil Corp.			150,975
Financials (1.7%)
24,632		Invesco, Ltd.			568,014
25,913		OppFi, Inc.(a)(b)			88,882
5,440		Wells Fargo & Co.			263,622
					920,518
Industrials (9.4%)
4,590		AAR Corp.(a)			222,294
71,186		Fluor Corp.(a)(b)			2,042,326
3,380		HEICO Corp., Class A			428,685
3,149		Science Applications International Corp.			290,243
29,876		Spirit AeroSystems Holdings, Inc., Class A			1,460,638
184		TransDigm Group, Inc.(a)			119,883
14,560		Triumph Group, Inc.(a)			368,077
					4,932,146
Information Technology (4.9%)
9,731		Comtech Telecommunications Corp.			152,679
191,285		LGL Group, Inc. (The)			2,094,571
11,880		Xerox Holdings Corp.			239,620
800		Zoom Video Communications, Inc.(a)			93,784
					2,580,654

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Alpha Opportunities ETF

 

Shares		Security Description		Value ($)
Common Stocks (continued)
Real Estate (0.5%)
2,328		Howard Hughes Corp. (The)(a)			241,204
Total Common Stocks (Cost $60,448,420)					51,907,239
Mutual Funds (4.4%)
26,266		Direxion Daily Small Capital Bull 3X Shares(b)			1,654,495
675,750		Dreyfus Government Cash Management			675,750
Total Mutual Fund (Cost $2,731,470)					2,330,245
Purchased Options (2.3%)
Total Purchased Options (Cost $1,942,453)					1,207,000
Warrants (1.9%)
155,365		Lazydays Holdings, Inc. Exp 03/15/23			630,004
211,739		LGL Group, Inc. (The) Exp 11/17/25			110,094
470,880		OppFi, Inc. Exp 08/31/27			242,692
64,800		PMV Consumer Acquisition Corp. Exp 08/31/27			15,711
Total Warrant (Cost $1,974,558)					998,501
Total Investments (Cost $67,096,901) — 107.2%					56,442,985
Securities Sold Short (Proceeds $6,415,849) — (13.0)%					(6,869,129	)
Other assets in excess of liabilities — 5.8%					3,074,646
Net Assets — 100.0%				$	52,648,502

 

(a)	Non-income producing
(b)	This security or a partial position of this security was on loan as of March 31, 2022. The total value of securities on loan as of March 31, 2022 was $3,371,714.

 

ADR	American Depositary Receipt

 

 

Schedule of Investments (continued)	March 31, 2022 (Unaudited)
Emles Alpha Opportunities ETF

 

Shares		Security Description		Value ($)
Securities Sold Short ((13.0)%)
Consumer Discretionary ((5.5)%)
(2,700	)	Tesla, Inc.(a)			(2,909,520	)
Industrials ((6.1)%)
(3,200	)	AeroVironment, Inc.(a)			(301,248	)
(2,300	)	Deere & Co.			(955,558	)
(1,000	)	L3Harris Technologies, Inc.			(248,470	)
(2,200	)	Lockheed Martin Corp.			(971,080	)
(1,100	)	Northrop Grumman Corp.			(491,942	)
(2,450	)	Raytheon Technologies Corp.			(242,721	)
					(3,211,019	)
Information Technology ((0.5)%)
(770	)	Fortinet, Inc.(a)			(263,140	)
Materials ((0.9)%)
(7,300	)	Mosaic Co. (The)			(485,450	)
Total Securities Sold Short (Proceeds $(6,415,849))				$	(6,869,129	)

 

Written Options

Exchange-traded options

 

Description		Put/ Call		Number of Contracts		Notional Amount ($)(*)				Strike Price ($)				Expiration Date		Value ($)
Signet Jewelers, Ltd.		Call		(400)			(52,000	)			130.00			4/15/22			(4,000	)
Total (Premiums Received $170,344)						$	(52,000	)								$	(4,000	)

 

Purchased Options

 

Description		Put/ Call		Number of Contracts		Notional Amount ($)(*)				Strike Price ($)				Expiration Date		Value ($)
Alibaba Group Holding		Call		200			30,000				150.00			1/20/23			170,000
Alibaba Group Holding-SP ADR		Call		100			10,000				100.00			1/20/23			255,000
Dick’s Sporting Goods Inc.		Call		200			20,000				100.00			1/20/23			310,000
Thor Industries, Inc.		Call		400			28,000				70.00			6/20/22			472,000
Total						$	88,000									$	1,207,000

 

(a)	Non-income producing
*	Notional Amount is expressed as the number of contracts multiplied by the strike price of the underlying asset.

 

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