UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY
SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT
INVESTMENT COMPANY
Investment
Company Act File number 811-22704
CAMBRIA
ETF TRUST
(Exact name of Registrant as specified in
charter)
2321 Rosecrans Avenue
Suite 3225
El Segundo, CA 90245
(Address of principal executive offices)
(Zip code)
Corporation Service Company
2711 Centerville Road
Suite 400
Wilmington, DE 19808
(Name and address of agent for service)
With a Copy to:
John McGuire
Morgan Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, D.C. 20004
Registrant’s telephone number,
including area code: 1-310-683-5500
Date of fiscal year end: April 30, 2020
Date of reporting period: January 31,
2020
Item 1. Schedule of Investments
The Registrant’s schedules as of the close of the reporting
period, as set forth in §§ 210.12-12 through 210.12-14 of Regulation S-X [17 CFR §§ 210-12.12-12.14], are
attached hereto.
Cambria Investment Management
Schedule of Investments ● Cambria
Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 98.6%
|
|
|
|
|
|
|
|
|
Communication Services — 1.1%
|
|
|
|
|
|
|
|
|
CenturyLink
|
|
|
85,140
|
|
|
$
|
1,163,013
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary — 26.1%
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch, Cl A
|
|
|
63,855
|
|
|
|
1,044,668
|
|
Best Buy
|
|
|
14,412
|
|
|
|
1,220,552
|
|
Buckle(A)
|
|
|
48,628
|
|
|
|
1,187,010
|
|
Dick’s Sporting Goods
|
|
|
24,255
|
|
|
|
1,072,799
|
|
Dillard’s, Cl A(A)
|
|
|
15,455
|
|
|
|
938,428
|
|
Express*
|
|
|
299,475
|
|
|
|
1,200,895
|
|
Foot Locker
|
|
|
23,375
|
|
|
|
887,549
|
|
GameStop, Cl A* (A)
|
|
|
182,435
|
|
|
|
700,550
|
|
Gap
|
|
|
57,035
|
|
|
|
992,979
|
|
Gentex
|
|
|
35,531
|
|
|
|
1,057,758
|
|
Guess?
|
|
|
53,075
|
|
|
|
1,129,967
|
|
Home Depot
|
|
|
4,298
|
|
|
|
980,374
|
|
International Game Technology
|
|
|
68,585
|
|
|
|
925,212
|
|
Kohl’s
|
|
|
19,800
|
|
|
|
846,450
|
|
Lear
|
|
|
8,305
|
|
|
|
1,023,010
|
|
Meritage Homes*
|
|
|
14,139
|
|
|
|
1,003,303
|
|
Newell Brands
|
|
|
54,890
|
|
|
|
1,072,002
|
|
PulteGroup
|
|
|
27,280
|
|
|
|
1,218,052
|
|
Ralph Lauren, Cl A
|
|
|
10,456
|
|
|
|
1,186,756
|
|
Shoe Carnival(A)
|
|
|
30,140
|
|
|
|
1,080,820
|
|
Signet Jewelers
|
|
|
56,540
|
|
|
|
1,374,487
|
|
Six Flags Entertainment
|
|
|
19,642
|
|
|
|
748,949
|
|
Stamps.com*
|
|
|
14,135
|
|
|
|
1,052,916
|
|
Target
|
|
|
9,299
|
|
|
|
1,029,771
|
|
TRI Pointe Group*
|
|
|
66,605
|
|
|
|
1,082,997
|
|
Wyndham Destinations
|
|
|
21,725
|
|
|
|
1,054,314
|
|
|
|
|
|
|
|
|
27,112,568
|
|
Consumer Staples — 0.9%
|
|
|
|
|
|
|
|
|
Walgreens Boots Alliance
|
|
|
18,150
|
|
|
|
922,928
|
|
|
|
|
|
|
|
|
|
|
Energy — 6.0%
|
|
|
|
|
|
|
|
|
Arch Coal
|
|
|
13,255
|
|
|
|
683,030
|
|
Chevron
|
|
|
7,920
|
|
|
|
848,549
|
|
CNX Resources*
|
|
|
137,225
|
|
|
|
992,137
|
|
ConocoPhillips
|
|
|
17,050
|
|
|
|
1,013,281
|
|
Southwestern Energy*
|
|
|
479,215
|
|
|
|
752,368
|
|
Valero Energy
|
|
|
11,661
|
|
|
|
983,139
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
World Fuel Services
|
|
|
25,025
|
|
|
$
|
978,978
|
|
|
|
|
|
|
|
|
6,251,482
|
|
Financials — 21.6%
|
|
|
|
|
|
|
|
|
Aflac
|
|
|
18,984
|
|
|
|
979,005
|
|
Allstate
|
|
|
9,141
|
|
|
|
1,083,574
|
|
Ameriprise Financial
|
|
|
6,659
|
|
|
|
1,101,465
|
|
Assured Guaranty
|
|
|
22,008
|
|
|
|
1,008,847
|
|
CIT Group
|
|
|
21,725
|
|
|
|
993,050
|
|
Citizens Financial Group
|
|
|
27,776
|
|
|
|
1,035,489
|
|
Discover Financial Services
|
|
|
12,045
|
|
|
|
904,941
|
|
Federated Investors, Cl B
|
|
|
30,316
|
|
|
|
1,098,349
|
|
Franklin Resources
|
|
|
34,265
|
|
|
|
866,905
|
|
JPMorgan Chase
|
|
|
8,364
|
|
|
|
1,107,059
|
|
Lincoln National
|
|
|
16,170
|
|
|
|
880,941
|
|
M&T Bank
|
|
|
6,215
|
|
|
|
1,047,352
|
|
MetLife
|
|
|
20,790
|
|
|
|
1,033,471
|
|
New York Community Bancorp
|
|
|
77,452
|
|
|
|
856,619
|
|
PNC Financial Services Group
|
|
|
6,985
|
|
|
|
1,037,622
|
|
Reinsurance Group of America, Cl A
|
|
|
6,105
|
|
|
|
879,425
|
|
Synchrony Financial
|
|
|
29,326
|
|
|
|
950,455
|
|
Truist Financial
|
|
|
1
|
|
|
|
51
|
|
Trustmark
|
|
|
28,664
|
|
|
|
916,675
|
|
Unum Group
|
|
|
33,220
|
|
|
|
886,642
|
|
US Bancorp
|
|
|
17,765
|
|
|
|
945,453
|
|
Voya Financial
|
|
|
17,930
|
|
|
|
1,070,959
|
|
Waddell & Reed Financial, Cl A
|
|
|
56,489
|
|
|
|
902,694
|
|
Wells Fargo
|
|
|
19,305
|
|
|
|
906,177
|
|
|
|
|
|
|
|
|
22,493,220
|
|
Health Care — 2.0%
|
|
|
|
|
|
|
|
|
Biogen*
|
|
|
3,740
|
|
|
|
1,005,499
|
|
McKesson
|
|
|
7,315
|
|
|
|
1,043,192
|
|
|
|
|
|
|
|
|
2,048,691
|
|
Industrials — 12.7%
|
|
|
|
|
|
|
|
|
AGCO
|
|
|
12,925
|
|
|
|
906,559
|
|
Cummins
|
|
|
6,116
|
|
|
|
978,377
|
|
Delta Air Lines
|
|
|
16,788
|
|
|
|
935,763
|
|
Eaton
|
|
|
11,885
|
|
|
|
1,122,776
|
|
Huntington Ingalls Industries
|
|
|
4,620
|
|
|
|
1,205,820
|
|
KAR Auction Services
|
|
|
39,655
|
|
|
|
833,548
|
|
ManpowerGroup
|
|
|
11,880
|
|
|
|
1,086,901
|
|
Oshkosh
|
|
|
13,145
|
|
|
|
1,130,996
|
|
Regal Beloit
|
|
|
13,475
|
|
|
|
1,057,248
|
|
Robert Half International
|
|
|
17,875
|
|
|
|
1,039,789
|
|
Southwest Airlines
|
|
|
18,046
|
|
|
|
992,169
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Wabash National
|
|
|
66,660
|
|
|
$
|
773,256
|
|
Werner Enterprises
|
|
|
30,360
|
|
|
|
1,119,070
|
|
|
|
|
|
|
|
|
13,182,272
|
|
Information Technology — 15.4%
|
|
|
|
|
|
|
|
|
Apple
|
|
|
4,520
|
|
|
|
1,398,985
|
|
Applied Materials
|
|
|
19,701
|
|
|
|
1,142,461
|
|
Avnet
|
|
|
22,229
|
|
|
|
811,136
|
|
Cirrus Logic*
|
|
|
18,318
|
|
|
|
1,407,006
|
|
Corning
|
|
|
34,761
|
|
|
|
927,771
|
|
Hewlett Packard Enterprise
|
|
|
66,117
|
|
|
|
921,010
|
|
HP
|
|
|
53,130
|
|
|
|
1,132,732
|
|
Intel
|
|
|
19,360
|
|
|
|
1,237,685
|
|
Micron Technology*
|
|
|
20,240
|
|
|
|
1,074,542
|
|
Qorvo*
|
|
|
13,321
|
|
|
|
1,410,161
|
|
Tech Data*
|
|
|
9,517
|
|
|
|
1,369,877
|
|
Texas Instruments
|
|
|
7,713
|
|
|
|
930,573
|
|
Western Union
|
|
|
42,740
|
|
|
|
1,149,706
|
|
Xerox Holdings
|
|
|
32,344
|
|
|
|
1,150,476
|
|
|
|
|
|
|
|
|
16,064,121
|
|
Materials — 11.3%
|
|
|
|
|
|
|
|
|
Cabot
|
|
|
23,925
|
|
|
|
953,411
|
|
Eastman Chemical
|
|
|
13,475
|
|
|
|
960,363
|
|
International Paper
|
|
|
23,650
|
|
|
|
963,028
|
|
Kaiser Aluminum
|
|
|
9,955
|
|
|
|
996,993
|
|
Louisiana-Pacific
|
|
|
39,216
|
|
|
|
1,203,147
|
|
LyondellBasell Industries, Cl A
|
|
|
11,110
|
|
|
|
865,025
|
|
Nucor
|
|
|
19,635
|
|
|
|
932,466
|
|
Olin
|
|
|
51,865
|
|
|
|
771,232
|
|
Reliance Steel & Aluminum
|
|
|
10,010
|
|
|
|
1,149,148
|
|
Steel Dynamics
|
|
|
33,440
|
|
|
|
999,187
|
|
Warrior Met Coal
|
|
|
51,315
|
|
|
|
967,801
|
|
Worthington Industries
|
|
|
27,335
|
|
|
|
1,005,382
|
|
|
|
|
|
|
|
|
11,767,183
|
|
Real Estate — 1.5%
|
|
|
|
|
|
|
|
|
Realogy Holdings* (A)
|
|
|
145,860
|
|
|
|
1,544,657
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $102,437,545)
|
|
|
|
|
|
|
102,550,135
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
SHORT-TERM INVESTMENT — 3.5%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
3,632,570
|
|
|
$
|
3,632,570
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $3,632,570)
|
|
|
|
|
|
|
3,632,570
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 102.1%
|
|
|
|
|
|
|
|
|
(Cost $106,070,115)
|
|
|
|
|
|
$
|
106,182,705
|
|
Other Assets and Liabilities - (2.1)%
|
|
|
|
|
|
|
(2,172,687
|
)
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
104,010,018
|
|
Percentages based on Net Assets.
*
|
Non-income producing security.
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $3,428,692.
|
(B)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $3,632,570.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
Cl — Class
|
PLC — Public Limited Company
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers
in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-001-1400
Cambria Investment Management
Schedule of Investments ● Cambria
Foreign Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 96.6%
|
|
|
|
|
|
|
|
|
Australia — 16.2%
|
|
|
|
|
|
|
|
|
AGL Energy
|
|
|
21,400
|
|
|
$
|
285,786
|
|
Alumina
|
|
|
134,577
|
|
|
|
196,387
|
|
Bendigo & Adelaide Bank
|
|
|
40,400
|
|
|
|
281,525
|
|
BHP Group
|
|
|
12,200
|
|
|
|
321,766
|
|
BlueScope Steel
|
|
|
12,525
|
|
|
|
119,475
|
|
Crown Resorts
|
|
|
25,031
|
|
|
|
196,042
|
|
Fortescue Metals Group
|
|
|
59,300
|
|
|
|
452,129
|
|
JB Hi-Fi
|
|
|
19,000
|
|
|
|
504,418
|
|
Metcash
|
|
|
160,156
|
|
|
|
280,885
|
|
Perpetual
|
|
|
10,836
|
|
|
|
309,728
|
|
Qantas Airways
|
|
|
60,287
|
|
|
|
258,682
|
|
South32
|
|
|
225,850
|
|
|
|
399,124
|
|
Super Retail Group
|
|
|
55,001
|
|
|
|
345,349
|
|
Wesfarmers
|
|
|
13,150
|
|
|
|
397,965
|
|
Whitehaven Coal
|
|
|
77,225
|
|
|
|
129,752
|
|
Woodside Petroleum
|
|
|
11,995
|
|
|
|
278,862
|
|
|
|
|
|
|
|
|
4,757,875
|
|
Belgium — 1.4%
|
|
|
|
|
|
|
|
|
Ageas
|
|
|
7,316
|
|
|
|
403,826
|
|
|
|
|
|
|
|
|
|
|
Canada — 12.0%
|
|
|
|
|
|
|
|
|
Canadian Natural Resources
|
|
|
10,000
|
|
|
|
281,245
|
|
Ensign Energy Services (A)
|
|
|
42,500
|
|
|
|
75,790
|
|
Great-West Lifeco
|
|
|
8,761
|
|
|
|
227,002
|
|
iA Financial
|
|
|
7,500
|
|
|
|
412,744
|
|
Imperial Oil
|
|
|
12,500
|
|
|
|
296,396
|
|
Labrador Iron Ore Royalty
|
|
|
14,612
|
|
|
|
232,860
|
|
Magna International
|
|
|
7,600
|
|
|
|
385,283
|
|
Methanex
|
|
|
5,000
|
|
|
|
162,120
|
|
Norbord
|
|
|
7,500
|
|
|
|
220,285
|
|
Power Corp of Canada
|
|
|
12,500
|
|
|
|
311,886
|
|
Suncor Energy
|
|
|
10,000
|
|
|
|
305,652
|
|
TFI International
|
|
|
9,583
|
|
|
|
306,882
|
|
Whitecap Resources
|
|
|
82,500
|
|
|
|
300,476
|
|
|
|
|
|
|
|
|
3,518,621
|
|
Denmark — 1.6%
|
|
|
|
|
|
|
|
|
Novo Nordisk, Cl B
|
|
|
5,317
|
|
|
|
325,511
|
|
Pandora
|
|
|
2,805
|
|
|
|
145,456
|
|
|
|
|
|
|
|
|
470,967
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Foreign Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Finland — 1.0%
|
|
|
|
|
|
|
|
|
UPM-Kymmene
|
|
|
9,475
|
|
|
$
|
299,801
|
|
|
|
|
|
|
|
|
|
|
France — 4.2%
|
|
|
|
|
|
|
|
|
AXA
|
|
|
9,063
|
|
|
|
242,036
|
|
BNP Paribas
|
|
|
5,707
|
|
|
|
304,094
|
|
Casino Guichard Perrachon * (A)
|
|
|
4,593
|
|
|
|
186,742
|
|
Engie
|
|
|
15,689
|
|
|
|
270,743
|
|
Metropole Television
|
|
|
13,828
|
|
|
|
230,347
|
|
|
|
|
|
|
|
|
1,233,962
|
|
Germany — 5.6%
|
|
|
|
|
|
|
|
|
Dialog Semiconductor *
|
|
|
6,275
|
|
|
|
277,468
|
|
Freenet
|
|
|
10,866
|
|
|
|
241,501
|
|
Linde
|
|
|
1,550
|
|
|
|
316,388
|
|
Muenchener Rueckversicherungs
|
|
|
1,807
|
|
|
|
533,681
|
|
TUI
|
|
|
26,200
|
|
|
|
268,837
|
|
|
|
|
|
|
|
|
1,637,875
|
|
Hong Kong — 2.2%
|
|
|
|
|
|
|
|
|
China Resources Cement Holdings
|
|
|
150,000
|
|
|
|
169,765
|
|
Shandong Chenming Paper Holdings, Cl H
|
|
|
318,750
|
|
|
|
125,176
|
|
Shougang Fushan Resources Group
|
|
|
1,850,000
|
|
|
|
366,827
|
|
|
|
|
|
|
|
|
661,768
|
|
Italy — 5.0%
|
|
|
|
|
|
|
|
|
Assicurazioni Generali
|
|
|
14,350
|
|
|
|
280,023
|
|
Eni
|
|
|
23,700
|
|
|
|
332,710
|
|
Fiat Chrysler Automobiles
|
|
|
12,000
|
|
|
|
156,137
|
|
Saras
|
|
|
107,987
|
|
|
|
145,153
|
|
Societa Cattolica di Assicurazioni SC
|
|
|
31,850
|
|
|
|
252,208
|
|
Unipol Gruppo
|
|
|
60,109
|
|
|
|
306,855
|
|
|
|
|
|
|
|
|
1,473,086
|
|
Japan — 14.5%
|
|
|
|
|
|
|
|
|
Amada Holdings
|
|
|
25,000
|
|
|
|
268,331
|
|
Astellas Pharma
|
|
|
15,000
|
|
|
|
270,015
|
|
Ebara
|
|
|
10,000
|
|
|
|
283,789
|
|
JFE Holdings
|
|
|
22,500
|
|
|
|
273,061
|
|
KDDI
|
|
|
15,000
|
|
|
|
452,817
|
|
Mitsubishi Gas Chemical
|
|
|
20,000
|
|
|
|
311,938
|
|
Nippon Telegraph & Telephone
|
|
|
15,000
|
|
|
|
385,746
|
|
NTT DOCOMO
|
|
|
12,870
|
|
|
|
369,038
|
|
NuFlare Technology *
|
|
|
2,500
|
|
|
|
273,637
|
|
Shinsei Bank *
|
|
|
20,000
|
|
|
|
311,938
|
|
Sompo Holdings
|
|
|
7,500
|
|
|
|
286,074
|
|
Tokio Marine Holdings
|
|
|
7,500
|
|
|
|
414,263
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Foreign Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Z Holdings
|
|
|
92,500
|
|
|
$
|
373,910
|
|
|
|
|
|
|
|
|
4,274,557
|
|
Netherlands — 4.8%
|
|
|
|
|
|
|
|
|
Aegon
|
|
|
62,850
|
|
|
|
255,744
|
|
ASR Nederland
|
|
|
5,715
|
|
|
|
213,218
|
|
Koninklijke Ahold Delhaize
|
|
|
17,475
|
|
|
|
430,252
|
|
Randstad
|
|
|
5,266
|
|
|
|
303,461
|
|
Signify
|
|
|
6,511
|
|
|
|
217,498
|
|
|
|
|
|
|
|
|
1,420,173
|
|
Norway — 0.8%
|
|
|
|
|
|
|
|
|
Telenor
|
|
|
12,628
|
|
|
|
229,208
|
|
|
|
|
|
|
|
|
|
|
Portugal — 1.5%
|
|
|
|
|
|
|
|
|
EDP - Energias de Portugal
|
|
|
86,093
|
|
|
|
431,959
|
|
|
|
|
|
|
|
|
|
|
Spain — 0.8%
|
|
|
|
|
|
|
|
|
Repsol
|
|
|
17,950
|
|
|
|
248,147
|
|
|
|
|
|
|
|
|
|
|
Sweden — 3.9%
|
|
|
|
|
|
|
|
|
JM
|
|
|
10,891
|
|
|
|
333,284
|
|
Peab, Cl B
|
|
|
28,783
|
|
|
|
289,418
|
|
SSAB, Cl B
|
|
|
96,700
|
|
|
|
279,144
|
|
Telia
|
|
|
58,455
|
|
|
|
250,472
|
|
|
|
|
|
|
|
|
1,152,318
|
|
Switzerland — 1.6%
|
|
|
|
|
|
|
|
|
Zurich Insurance Group
|
|
|
1,100
|
|
|
|
457,610
|
|
|
|
|
|
|
|
|
|
|
United Kingdom — 19.5%
|
|
|
|
|
|
|
|
|
Anglo American
|
|
|
6,900
|
|
|
|
180,917
|
|
Aviva
|
|
|
51,475
|
|
|
|
270,803
|
|
Babcock International Group
|
|
|
23,375
|
|
|
|
181,743
|
|
Bellway
|
|
|
6,600
|
|
|
|
347,304
|
|
Berkeley Group Holdings
|
|
|
3,050
|
|
|
|
211,042
|
|
Direct Line Insurance Group
|
|
|
45,607
|
|
|
|
203,436
|
|
Glencore *
|
|
|
80,750
|
|
|
|
237,252
|
|
HSBC Holdings
|
|
|
33,918
|
|
|
|
247,144
|
|
Kingfisher
|
|
|
56,361
|
|
|
|
151,826
|
|
Legal & General Group
|
|
|
75,958
|
|
|
|
306,424
|
|
Lloyds Banking Group
|
|
|
455,050
|
|
|
|
341,247
|
|
Man Group
|
|
|
171,900
|
|
|
|
349,343
|
|
Persimmon
|
|
|
12,850
|
|
|
|
518,045
|
|
Redrow
|
|
|
33,825
|
|
|
|
355,093
|
|
Rio Tinto
|
|
|
6,806
|
|
|
|
367,042
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Foreign Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Royal Dutch Shell, Cl A
|
|
|
8,800
|
|
|
$
|
231,757
|
|
Royal Mail
|
|
|
50,548
|
|
|
|
132,296
|
|
Standard Life Aberdeen
|
|
|
73,425
|
|
|
|
292,327
|
|
Taylor Wimpey
|
|
|
129,375
|
|
|
|
367,476
|
|
Vodafone Group
|
|
|
87,728
|
|
|
|
172,956
|
|
WPP
|
|
|
21,825
|
|
|
|
272,348
|
|
|
|
|
|
|
|
|
5,737,821
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $29,527,894)
|
|
|
|
|
|
|
28,409,574
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 0.7%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
207,452
|
|
|
|
207,452
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $207,452)
|
|
|
|
|
|
|
207,452
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 97.3%
|
|
|
|
|
|
|
|
|
(Cost $29,735,346)
|
|
|
|
|
|
$
|
28,617,026
|
|
Other Assets and Liabilities - 2.7%
|
|
|
|
|
|
|
783,608
|
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
29,400,635
|
|
Percentages based on Net Assets.
*
|
Non-income producing security.
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $196,734.
|
(B)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $207,452.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers
in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-002-1300
Cambria Investment Management
Schedule of Investments ● Cambria
Global Value ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 95.2%
|
|
|
|
|
|
|
|
|
Brazil — 7.9%
|
|
|
|
|
|
|
|
|
AMBEV *
|
|
|
240,072
|
|
|
$
|
1,000,627
|
|
Banco do Brasil *
|
|
|
183,906
|
|
|
|
2,074,128
|
|
Banco Santander Brasil
|
|
|
163,601
|
|
|
|
1,596,051
|
|
Cia Siderurgica Nacional
|
|
|
421,837
|
|
|
|
1,276,562
|
|
Cosan
|
|
|
119,138
|
|
|
|
2,221,354
|
|
JBS
|
|
|
442,766
|
|
|
|
2,850,385
|
|
Vale *
|
|
|
131,952
|
|
|
|
1,552,268
|
|
|
|
|
|
|
|
|
12,571,375
|
|
Czech Republic — 6.5%
|
|
|
|
|
|
|
|
|
CEZ
|
|
|
86,062
|
|
|
|
1,884,607
|
|
Erste Group Bank *
|
|
|
38,223
|
|
|
|
1,393,347
|
|
Komercni Banka
|
|
|
48,015
|
|
|
|
1,654,230
|
|
Moneta Money Bank
|
|
|
438,948
|
|
|
|
1,606,857
|
|
PFNonwovens *
|
|
|
56,307
|
|
|
|
1,678,696
|
|
Philip Morris CR
|
|
|
3,151
|
|
|
|
2,133,777
|
|
|
|
|
|
|
|
|
10,351,514
|
|
Greece — 8.7%
|
|
|
|
|
|
|
|
|
Alpha Bank AE *
|
|
|
31,247
|
|
|
|
62,863
|
|
Athens Water Supply & Sewage
|
|
|
148,645
|
|
|
|
1,226,523
|
|
Bank of Greece
|
|
|
80,556
|
|
|
|
1,420,520
|
|
FF Group *(A) (B)
|
|
|
25,407
|
|
|
|
—
|
|
Hellenic Petroleum
|
|
|
170,839
|
|
|
|
1,498,704
|
|
Hellenic Telecommunications Organization
|
|
|
77,586
|
|
|
|
1,161,635
|
|
Holding ADMIE IPTO
|
|
|
169,781
|
|
|
|
435,906
|
|
Intralot -Integrated Lottery Systems & Services *
|
|
|
554,439
|
|
|
|
225,669
|
|
JUMBO
|
|
|
66,099
|
|
|
|
1,346,655
|
|
Karelia Tobacco
|
|
|
5,753
|
|
|
|
1,850,311
|
|
Motor Oil Hellas Corinth Refineries
|
|
|
126,588
|
|
|
|
2,695,542
|
|
Mytilineos
|
|
|
94,530
|
|
|
|
972,904
|
|
National Bank of Greece *
|
|
|
3,877
|
|
|
|
12,401
|
|
Piraeus Bank *
|
|
|
878
|
|
|
|
3,137
|
|
Public Power *
|
|
|
169,781
|
|
|
|
788,961
|
|
|
|
|
|
|
|
|
13,701,731
|
|
Italy — 8.5%
|
|
|
|
|
|
|
|
|
Atlantia
|
|
|
57,460
|
|
|
|
1,412,810
|
|
Enel
|
|
|
322,361
|
|
|
|
2,808,284
|
|
Eni
|
|
|
92,446
|
|
|
|
1,297,794
|
|
Intesa Sanpaolo
|
|
|
619,875
|
|
|
|
1,543,724
|
|
Saipem *
|
|
|
56,176
|
|
|
|
233,509
|
|
Telecom Italia *
|
|
|
2,755,645
|
|
|
|
1,487,737
|
|
UniCredit
|
|
|
112,101
|
|
|
|
1,502,106
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Global Value ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Unipol Gruppo
|
|
|
312,596
|
|
|
$
|
1,595,794
|
|
UnipolSai
|
|
|
584,608
|
|
|
|
1,569,034
|
|
|
|
|
|
|
|
|
13,450,792
|
|
Norway — 6.8%
|
|
|
|
|
|
|
|
|
Aker Solutions *
|
|
|
262,128
|
|
|
|
530,500
|
|
DNB
|
|
|
74,945
|
|
|
|
1,318,756
|
|
Equinor
|
|
|
58,382
|
|
|
|
1,060,948
|
|
Gjensidige Forsikring
|
|
|
58,743
|
|
|
|
1,283,693
|
|
Norsk Hydro
|
|
|
251,140
|
|
|
|
792,086
|
|
PGS *
|
|
|
396,285
|
|
|
|
765,604
|
|
Storebrand
|
|
|
212,079
|
|
|
|
1,634,756
|
|
Telenor
|
|
|
58,926
|
|
|
|
1,069,553
|
|
TGS Nopec Geophysical
|
|
|
51,250
|
|
|
|
1,309,952
|
|
Yara International
|
|
|
25,249
|
|
|
|
920,696
|
|
|
|
|
|
|
|
|
10,686,544
|
|
Poland — 6.5%
|
|
|
|
|
|
|
|
|
Bank Millennium *
|
|
|
323,769
|
|
|
|
496,364
|
|
Bank Polska Kasa Opieki
|
|
|
32,746
|
|
|
|
836,536
|
|
CCC
|
|
|
16,108
|
|
|
|
403,059
|
|
Grupa Lotos
|
|
|
79,491
|
|
|
|
1,578,516
|
|
ING Bank Slaski
|
|
|
16,496
|
|
|
|
864,278
|
|
KGHM Polska Miedz *
|
|
|
35,129
|
|
|
|
826,874
|
|
PGE Polska Grupa Energetyczna *
|
|
|
385,134
|
|
|
|
681,890
|
|
Polski Koncern Naftowy ORLEN
|
|
|
36,597
|
|
|
|
714,645
|
|
Polskie Gornictwo Naftowe i Gazownictwo
|
|
|
609,357
|
|
|
|
565,863
|
|
Powszechna Kasa Oszczednosci Bank Polski
|
|
|
94,905
|
|
|
|
837,955
|
|
Powszechny Zaklad Ubezpieczen
|
|
|
87,987
|
|
|
|
913,354
|
|
Santander Bank Polska
|
|
|
9,377
|
|
|
|
693,132
|
|
Tauron Polska Energia *
|
|
|
2,055,573
|
|
|
|
788,371
|
|
|
|
|
|
|
|
|
10,200,837
|
|
Portugal — 8.4%
|
|
|
|
|
|
|
|
|
Altri SGPS
|
|
|
70,035
|
|
|
|
433,413
|
|
Corticeira Amorim SGPS
|
|
|
444,017
|
|
|
|
5,328,184
|
|
CTT-Correios de Portugal
|
|
|
27,834
|
|
|
|
90,386
|
|
EDP - Energias de Portugal
|
|
|
443,366
|
|
|
|
2,224,525
|
|
Galp Energia SGPS
|
|
|
124,316
|
|
|
|
1,880,589
|
|
Jeronimo Martins SGPS
|
|
|
40,878
|
|
|
|
704,746
|
|
Mota-Engil SGPS
|
|
|
80,832
|
|
|
|
151,414
|
|
Navigator
|
|
|
66,645
|
|
|
|
239,478
|
|
NOS SGPS
|
|
|
41,244
|
|
|
|
214,163
|
|
Pharol SGPS * (C)
|
|
|
805,485
|
|
|
|
90,762
|
|
REN - Redes Energeticas Nacionais SGPS
|
|
|
101,725
|
|
|
|
307,994
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Global Value ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Semapa-Sociedade de Investimento e Gestao
|
|
|
119,053
|
|
|
$
|
1,661,014
|
|
|
|
|
|
|
|
|
13,326,668
|
|
Russia — 8.4%
|
|
|
|
|
|
|
|
|
Alrosa PJSC
|
|
|
1,663,728
|
|
|
|
2,086,897
|
|
Gazprom Neft PJSC
|
|
|
441,140
|
|
|
|
3,080,304
|
|
Gazprom PJSC
|
|
|
491,419
|
|
|
|
1,742,400
|
|
Rosneft PJSC
|
|
|
260,848
|
|
|
|
1,960,312
|
|
Sberbank of Russia PJSC
|
|
|
378,887
|
|
|
|
1,494,511
|
|
Severstal PJSC
|
|
|
109,326
|
|
|
|
1,558,393
|
|
Unipro PJSC
|
|
|
29,536,652
|
|
|
|
1,359,090
|
|
|
|
|
|
|
|
|
13,281,907
|
|
Singapore — 7.7%
|
|
|
|
|
|
|
|
|
CapitaLand
|
|
|
534,300
|
|
|
|
1,417,387
|
|
City Developments
|
|
|
205,500
|
|
|
|
1,596,292
|
|
ComfortDelGro
|
|
|
739,800
|
|
|
|
1,176,437
|
|
Golden Agri-Resources
|
|
|
5,452,600
|
|
|
|
839,107
|
|
Jardine Cycle & Carriage
|
|
|
54,800
|
|
|
|
1,173,425
|
|
Oversea-Chinese Banking
|
|
|
164,400
|
|
|
|
1,304,743
|
|
SATS
|
|
|
369,900
|
|
|
|
1,236,072
|
|
Sembcorp Industries
|
|
|
616,500
|
|
|
|
957,775
|
|
Singapore Airlines
|
|
|
191,800
|
|
|
|
1,201,737
|
|
United Overseas Bank
|
|
|
68,500
|
|
|
|
1,288,077
|
|
|
|
|
|
|
|
|
12,191,052
|
|
Spain — 9.1%
|
|
|
|
|
|
|
|
|
Acciona
|
|
|
17,573
|
|
|
|
1,995,714
|
|
Banco Bilbao Vizcaya Argentaria
|
|
|
142,117
|
|
|
|
735,827
|
|
Banco Santander
|
|
|
197,425
|
|
|
|
778,165
|
|
CaixaBank
|
|
|
284,044
|
|
|
|
831,653
|
|
Enagas
|
|
|
46,606
|
|
|
|
1,257,065
|
|
Endesa
|
|
|
55,086
|
|
|
|
1,513,281
|
|
Ferrovial
|
|
|
62,617
|
|
|
|
1,990,311
|
|
Iberdrola (C)
|
|
|
210,057
|
|
|
|
2,299,358
|
|
Mapfre
|
|
|
435,709
|
|
|
|
1,117,215
|
|
Naturgy Energy Group
|
|
|
68,395
|
|
|
|
1,805,318
|
|
|
|
|
|
|
|
|
14,323,907
|
|
Turkey — 9.3%
|
|
|
|
|
|
|
|
|
Akbank T.A.S. *
|
|
|
1,154,495
|
|
|
|
1,593,405
|
|
Eregli Demir ve Celik Fabrikalari
|
|
|
829,490
|
|
|
|
1,293,144
|
|
Haci Omer Sabanci Holding
|
|
|
922,727
|
|
|
|
1,503,252
|
|
KOC Holding
|
|
|
442,698
|
|
|
|
1,445,393
|
|
Petkim Petrokimya Holding *
|
|
|
2,024,392
|
|
|
|
1,363,182
|
|
Turkiye Halk Bankasi *
|
|
|
1,195,714
|
|
|
|
1,382,571
|
|
Turkiye Is Bankasi, Cl C *
|
|
|
1,252,367
|
|
|
|
1,517,133
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Global Value ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Turkiye Sise ve Cam Fabrikalari
|
|
|
1,142,582
|
|
|
$
|
1,061,491
|
|
Turkiye Vakiflar Bankasi TAO, Cl D *
|
|
|
1,731,889
|
|
|
|
1,909,932
|
|
Yapi ve Kredi Bankasi *
|
|
|
3,445,456
|
|
|
|
1,709,846
|
|
|
|
|
|
|
|
|
14,779,349
|
|
United Kingdom — 7.4%
|
|
|
|
|
|
|
|
|
Anglo American
|
|
|
45,661
|
|
|
|
1,197,223
|
|
Aviva
|
|
|
226,888
|
|
|
|
1,193,627
|
|
BP
|
|
|
172,546
|
|
|
|
1,040,576
|
|
British American Tobacco
|
|
|
31,837
|
|
|
|
1,411,516
|
|
BT Group, Cl A
|
|
|
427,813
|
|
|
|
909,079
|
|
HSBC Holdings
|
|
|
148,349
|
|
|
|
1,080,946
|
|
Legal & General Group
|
|
|
355,070
|
|
|
|
1,432,396
|
|
Rio Tinto
|
|
|
21,705
|
|
|
|
1,170,532
|
|
Rolls-Royce Holdings
|
|
|
109,689
|
|
|
|
970,455
|
|
Vodafone Group
|
|
|
686,727
|
|
|
|
1,353,885
|
|
|
|
|
|
|
|
|
11,760,235
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $162,285,790)
|
|
|
|
|
|
|
150,625,911
|
|
|
|
|
|
|
|
|
|
|
PREFERRED STOCK — 2.7%
|
|
|
|
|
|
|
|
|
Brazil — 2.7%
|
|
|
|
|
|
|
|
|
Banco Bradesco*(D)
|
|
|
260,306
|
|
|
|
1,993,657
|
|
Cia Energetica de Minas Gerais(D)
|
|
|
299,780
|
|
|
|
1,047,193
|
|
Telefonica Brasil(D)
|
|
|
92,417
|
|
|
|
1,287,226
|
|
|
|
|
|
|
|
|
|
|
Total Preferred Stock
|
|
|
|
|
|
|
|
|
(Cost $4,467,698)
|
|
|
|
|
|
|
4,328,076
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 0.1%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (E)(F)
|
|
|
100,309
|
|
|
|
100,309
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $100,309)
|
|
|
|
|
|
|
100,309
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 98.0%
|
|
|
|
|
|
|
|
|
(Cost $166,853,797)
|
|
|
|
|
|
$
|
155,054,296
|
|
Other Assets and Liabilities - 2.0%
|
|
|
|
|
|
|
3,131,559
|
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
158,185,856
|
|
Percentages based on Net Assets.
Cl — Class
|
PJSC — Private Joint Stock Company
|
Cambria Investment Management
Schedule of Investments ● Cambria
Global Value ETF ● January 31, 2020 (unaudited)
*
|
Non-income producing security.
|
(A)
|
Level 3 security in accordance with fair value hierarchy.
|
(B)
|
Securities considered illiquid. The total value of such securities as of January 31, 2020 was $0 and represented 0.0% of Net Assets.
|
(C)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $92,540.
|
(D)
|
There is currently no rate available.
|
(E)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $100,309.
|
(F)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
The following is a list of the inputs used as of January 31, 2020, in valuing the Fund’s investments and other financial instruments carried at market value:
|
Investments in Securities
|
|
Level 1
|
|
Level 2
|
|
Level 3(1)
|
|
Total
|
Common Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil
|
|
$
|
12,571,375
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
12,571,375
|
|
Czech Republic
|
|
|
10,351,514
|
|
|
|
—
|
|
|
|
—
|
|
|
|
10,351,514
|
|
Greece
|
|
|
13,701,731
|
|
|
|
—
|
|
|
|
—
|
|
|
|
13,701,731
|
|
Italy
|
|
|
13,450,792
|
|
|
|
—
|
|
|
|
—
|
|
|
|
13,450,792
|
|
Norway
|
|
|
10,686,544
|
|
|
|
—
|
|
|
|
—
|
|
|
|
10,686,544
|
|
Poland
|
|
|
10,200,837
|
|
|
|
—
|
|
|
|
—
|
|
|
|
10,200,837
|
|
Portugal
|
|
|
13,326,668
|
|
|
|
—
|
|
|
|
—
|
|
|
|
13,326,668
|
|
Russia
|
|
|
13,281,907
|
|
|
|
—
|
|
|
|
—
|
|
|
|
13,281,907
|
|
Singapore
|
|
|
12,191,052
|
|
|
|
—
|
|
|
|
—
|
|
|
|
12,191,052
|
|
Spain
|
|
|
14,323,907
|
|
|
|
—
|
|
|
|
—
|
|
|
|
14,323,907
|
|
Turkey
|
|
|
14,779,349
|
|
|
|
—
|
|
|
|
—
|
|
|
|
14,779,349
|
|
United Kingdom
|
|
|
11,760,235
|
|
|
|
—
|
|
|
|
—
|
|
|
|
11,760,235
|
|
Total Common Stock
|
|
|
150,625,911
|
|
|
|
—
|
|
|
|
—
|
|
|
|
150,625,911
|
|
Preferred Stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brazil
|
|
|
4,328,076
|
|
|
|
—
|
|
|
|
—
|
|
|
|
4,328,076
|
|
Short-Term Investment
|
|
|
100,309
|
|
|
|
—
|
|
|
|
—
|
|
|
|
100,309
|
|
Total Investments in Securities
|
|
$
|
155,054,296
|
|
|
$
|
–
|
|
|
$
|
–
|
|
|
$
|
155,054,296
|
|
Amounts
designated as “—” are either $0 or have been rounded to $0.
|
(1)
|
Included in Level 3 is one security with total value of
$0. A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has
a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has
concluded that Level 3 investments are not material in relation to net assets.
|
As of January 31, 2020, there were no
transfers in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-003-1200
Cambria Investment Management
Schedule of Investments ● Cambria
Global Momentum ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
EXCHANGE TRADED FUNDS — 98.5%
|
|
|
|
|
|
|
|
|
United States — 98.5%
|
|
|
|
|
|
|
|
|
Affiliated ETF — 22.8%
|
|
|
|
|
|
|
|
|
Cambria Emerging Shareholder Yield ETF‡
|
|
|
186,592
|
|
|
$
|
5,707,066
|
|
Cambria Foreign Shareholder Yield ETF‡
|
|
|
234,760
|
|
|
|
5,485,167
|
|
Cambria Global Value ETF‡
|
|
|
257,950
|
|
|
|
5,919,952
|
|
Cambria Shareholder Yield ETF‡
|
|
|
140,855
|
|
|
|
5,331,362
|
|
|
|
|
|
|
|
|
22,443,547
|
|
Equity ETF — 69.3%
|
|
|
|
|
|
|
|
|
Invesco DB Precious Metals Fund
|
|
|
155,560
|
|
|
|
6,701,945
|
|
iShares Global Consumer Staples ETF
|
|
|
108,046
|
|
|
|
5,972,783
|
|
iShares Global Financials ETF(A)
|
|
|
89,936
|
|
|
|
5,960,059
|
|
iShares Global Healthcare ETF(A)
|
|
|
93,905
|
|
|
|
6,359,247
|
|
iShares Global Industrials ETF(A)
|
|
|
63,448
|
|
|
|
6,102,429
|
|
iShares Global Infrastructure ETF
|
|
|
124,144
|
|
|
|
6,020,984
|
|
iShares Global Tech ETF
|
|
|
31,112
|
|
|
|
6,700,591
|
|
iShares Global Utilities ETF
|
|
|
97,412
|
|
|
|
6,058,052
|
|
Vanguard FTSE All World ex-US Small-Capital ETF(A)
|
|
|
55,825
|
|
|
|
5,968,251
|
|
Vanguard Real Estate ETF
|
|
|
65,364
|
|
|
|
6,139,640
|
|
Vanguard Total Stock Market ETF
|
|
|
38,038
|
|
|
|
6,219,974
|
|
|
|
|
|
|
|
|
68,203,955
|
|
Fixed Income ETF — 6.4%
|
|
|
|
|
|
|
|
|
Vanguard Long-Term Bond ETF
|
|
|
59,766
|
|
|
|
6,316,071
|
|
|
|
|
|
|
|
|
|
|
Total Exchange Traded Funds
|
|
|
|
|
|
|
|
|
(Cost $94,020,745)
|
|
|
|
|
|
|
96,963,573
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 4.8%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
4,693,515
|
|
|
|
4,693,515
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $4,693,515)
|
|
|
|
|
|
|
4,693,515
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 103.3%
|
|
|
|
|
|
|
|
|
(Cost $98,714,260)
|
|
|
|
|
|
$
|
101,657,088
|
|
Other Assets and Liabilities - (3.3)%
|
|
|
|
|
|
|
(3,218,833
|
)
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
98,438,255
|
|
Percentages based on Net Assets.
‡
|
Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor.
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $4,507,988.
|
(B)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $4,693,515.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
Transactions with affiliated companies during the period ended
January 31, 2020 are as follows:
|
|
|
|
|
|
|
|
|
Change in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value at
|
|
|
Purchases
|
|
|
Proceeds
|
|
|
Appreciation
|
|
|
Realized
|
|
|
Value at
|
|
|
Shares at
|
|
|
Dividend
|
|
4/30/2019
|
|
|
at
Cost
|
|
|
from
Sales
|
|
|
(Depreciation)
|
|
|
Gain
(Loss)
|
|
|
1/31/2020
|
|
|
of
1/31/2020
|
|
|
Income
|
|
Cambria Emerging Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
-
|
|
|
$
|
7,981,625
|
|
|
$
|
(2,003,936
|
)
|
|
$
|
(20,459
|
)
|
|
$
|
(250,164
|
)
|
|
$
|
5,707,066
|
|
|
|
186,592
|
|
|
$
|
208,117
|
|
Cambria Foreign Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
5,918,475
|
|
|
|
(369,334
|
)
|
|
|
8,543
|
|
|
|
(72,517
|
)
|
|
|
5,485,167
|
|
|
|
234,760
|
|
|
|
44,031
|
|
Cambria Global Value ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
13,622,532
|
|
|
|
(6,829,448
|
)
|
|
|
(582,326
|
)
|
|
|
(290,806
|
)
|
|
|
5,919,952
|
|
|
|
257,950
|
|
|
|
-
|
|
Cambria Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
13,081,340
|
|
|
|
(7,284,831
|
)
|
|
|
(336,067
|
)
|
|
|
(129,080
|
)
|
|
|
5,331,362
|
|
|
|
140,855
|
|
|
|
33,864
|
|
$
|
-
|
|
|
$
|
40,603,972
|
|
|
$
|
(16,487,549
|
)
|
|
$
|
(930,309
|
)
|
|
$
|
(742,567
|
)
|
|
$
|
22,443,547
|
|
|
|
820,157
|
|
|
$
|
286,012
|
|
Cl — Class
|
ETF — Exchange Traded Fund
|
FTSE — Financial Times Stock Exchange
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers
in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-004-1100
Cambria Investment Management
Schedule of Investments ● Cambria
Global Asset Allocation ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
EXCHANGE TRADED FUNDS — 99.3%
|
|
|
|
|
|
|
|
|
United States — 99.3%
|
|
|
|
|
|
|
|
|
Affiliated ETF — 31.6%
|
|
|
|
|
|
|
|
|
Cambria Emerging Shareholder Yield ETF‡ (A)
|
|
|
173,981
|
|
|
$
|
5,321,348
|
|
Cambria Foreign Shareholder Yield ETF‡ (A)
|
|
|
118,770
|
|
|
|
2,775,061
|
|
Cambria Global Value ETF‡
|
|
|
144,763
|
|
|
|
3,322,311
|
|
Cambria Shareholder Yield ETF‡
|
|
|
99,106
|
|
|
|
3,751,162
|
|
Cambria Sovereign Bond ETF‡
|
|
|
188,415
|
|
|
|
4,756,537
|
|
|
|
|
|
|
|
|
19,926,419
|
|
Equity ETF — 31.2%
|
|
|
|
|
|
|
|
|
Alpha Architect International Quantitative Momentum ETF(A)
|
|
|
48,937
|
|
|
|
1,298,299
|
|
Alpha Architect Value Momentum Trend ETF
|
|
|
47,787
|
|
|
|
1,166,791
|
|
Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF
|
|
|
260,186
|
|
|
|
3,936,614
|
|
iShares Edge MSCI USA Momentum Factor ETF
|
|
|
23,553
|
|
|
|
3,068,014
|
|
Schwab U.S. REIT ETF(A)
|
|
|
44,140
|
|
|
|
2,036,620
|
|
Schwab U.S. TIPS ETF(A)
|
|
|
32,384
|
|
|
|
1,872,767
|
|
Vanguard Global ex-U.S. Real Estate ETF
|
|
|
31,786
|
|
|
|
1,828,013
|
|
Vanguard Mid-Capital ETF
|
|
|
8,388
|
|
|
|
1,490,883
|
|
Vanguard Total Stock Market ETF
|
|
|
18,183
|
|
|
|
2,973,284
|
|
|
|
|
|
|
|
|
19,671,285
|
|
Fixed Income ETF — 36.5%
|
|
|
|
|
|
|
|
|
iShares Short Treasury Bond ETF
|
|
|
10,405
|
|
|
|
1,151,105
|
|
SPDR FTSE International Government Inflation-Protected Bond ETF
|
|
|
33,031
|
|
|
|
1,827,935
|
|
VanEck Vectors Emerging Markets High Yield Bond ETF(A)
|
|
|
102,690
|
|
|
|
2,471,748
|
|
VanEck Vectors International High Yield Bond ETF(A)
|
|
|
48,977
|
|
|
|
1,232,261
|
|
Vanguard Intermediate-Term Corporate Bond ETF
|
|
|
20,843
|
|
|
|
1,945,486
|
|
Vanguard Intermediate-Term Treasury ETF
|
|
|
36,409
|
|
|
|
2,452,510
|
|
Vanguard Long-Term Treasury ETF
|
|
|
30,814
|
|
|
|
2,752,923
|
|
Vanguard Short-Term Corporate Bond ETF
|
|
|
14,742
|
|
|
|
1,205,453
|
|
Vanguard Total Bond Market ETF
|
|
|
58,079
|
|
|
|
4,966,916
|
|
Vanguard Total International Bond ETF(A)
|
|
|
51,846
|
|
|
|
2,988,922
|
|
|
|
|
|
|
|
|
22,995,259
|
|
|
|
|
|
|
|
|
|
|
Total Exchange Traded Funds
|
|
|
|
|
|
|
|
|
(Cost $62,089,315)
|
|
|
|
|
|
|
62,592,963
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Global Asset Allocation ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
SHORT-TERM INVESTMENT — 8.4%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
5,279,510
|
|
|
$
|
5,279,510
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $5,279,510)
|
|
|
|
|
|
|
5,279,510
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 107.7%
|
|
|
|
|
|
|
|
|
(Cost $67,368,825)
|
|
|
|
|
|
$
|
67,872,473
|
|
Other Assets and Liabilities - (7.7)%
|
|
|
|
|
|
|
(4,863,207
|
)
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
63,009,267
|
|
Percentages based on Net Assets.
‡
|
Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor.
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $5,138,986.
|
(B)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $5,279,510.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
Transactions with affiliated companies during the period ended
January 31, 2020 are as follows:
|
|
|
|
|
|
|
|
|
Change in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value at
|
|
|
Purchases
|
|
|
Proceeds
|
|
|
Unrealized
|
|
|
Realized
|
|
|
Value at
|
|
|
Shares at
|
|
|
Dividend
|
|
4/30/2019
|
|
|
at
Cost
|
|
|
from
Sales
|
|
|
Appreciation
|
|
|
Gain
(Loss)
|
|
|
1/31/2020
|
|
|
of
1/31/2020
|
|
|
Income
|
|
Cambria Emerging Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
5,756,475
|
|
|
$
|
360,232
|
|
|
$
|
(602,882
|
)
|
|
$
|
117,386
|
|
|
$
|
(309,863
|
)
|
|
$
|
5,321,348
|
|
|
|
173,981
|
|
|
$
|
238,266
|
|
Cambria Foreign Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,917,359
|
|
|
|
183,190
|
|
|
|
(303,268
|
)
|
|
|
23,352
|
|
|
|
(45,572
|
)
|
|
|
2,775,061
|
|
|
|
118,770
|
|
|
|
87,875
|
|
Cambria Global Value ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,484,839
|
|
|
|
219,581
|
|
|
|
(370,237
|
)
|
|
|
46,815
|
|
|
|
(58,687
|
)
|
|
|
3,322,311
|
|
|
|
144,763
|
|
|
|
97,981
|
|
Cambria Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,871,820
|
|
|
|
252,148
|
|
|
|
(407,221
|
)
|
|
|
64,676
|
|
|
|
(30,261
|
)
|
|
|
3,751,162
|
|
|
|
99,106
|
|
|
|
64,831
|
|
Cambria Sovereign Bond ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,882,337
|
|
|
|
309,000
|
|
|
|
(536,497
|
)
|
|
|
15,057
|
|
|
|
86,640
|
|
|
|
4,756,537
|
|
|
|
188,415
|
|
|
|
182,468
|
|
$
|
20,912,830
|
|
|
$
|
1,324,151
|
|
|
$
|
(2,220,105
|
)
|
|
$
|
267,286
|
|
|
$
|
(357,743
|
)
|
|
$
|
19,926,419
|
|
|
|
725,035
|
|
|
$
|
671,421
|
|
ETF — Exchange Traded Fund
|
FTSE — Financial Times Stock Exchange
|
MSCI — Morgan Stanley Capital International
|
REIT — Real Estate Investment Trust
|
SPDR — Standard & Poor’s Depositary Receipt
|
TIPS— Treasury Inflation Protected Security
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers
in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-005-1200
Cambria Investment Management
Schedule of Investments ● Cambria
Value and Momentum ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 95.2%
|
|
|
|
|
|
|
|
|
Communication Services — 3.7%
|
|
|
|
|
|
|
|
|
AT&T
|
|
|
3,040
|
|
|
$
|
114,365
|
|
Gray Television*
|
|
|
6,210
|
|
|
|
125,939
|
|
TEGNA
|
|
|
9,438
|
|
|
|
159,502
|
|
Tribune Publishing
|
|
|
9,940
|
|
|
|
124,846
|
|
|
|
|
|
|
|
|
524,652
|
|
Consumer Discretionary — 25.1%
|
|
|
|
|
|
|
|
|
Adient*
|
|
|
5,077
|
|
|
|
130,530
|
|
AutoNation*
|
|
|
2,265
|
|
|
|
96,127
|
|
Beazer Homes USA*
|
|
|
7,856
|
|
|
|
108,020
|
|
Carvana, Cl A*
|
|
|
2,012
|
|
|
|
159,451
|
|
Cato, Cl A
|
|
|
6,541
|
|
|
|
104,918
|
|
Gentex
|
|
|
4,179
|
|
|
|
124,409
|
|
Group 1 Automotive
|
|
|
1,340
|
|
|
|
135,032
|
|
Hibbett Sports*
|
|
|
5,305
|
|
|
|
131,458
|
|
Lennar, Cl A
|
|
|
2,109
|
|
|
|
139,953
|
|
Lithia Motors, Cl A
|
|
|
871
|
|
|
|
118,142
|
|
M/I Homes*
|
|
|
3,012
|
|
|
|
133,703
|
|
MDC Holdings
|
|
|
3,250
|
|
|
|
136,955
|
|
Meritage Homes*
|
|
|
2,064
|
|
|
|
146,462
|
|
OneSpaWorld Holdings
|
|
|
7,024
|
|
|
|
105,430
|
|
Overstock.com*
|
|
|
9,534
|
|
|
|
77,416
|
|
PulteGroup
|
|
|
3,242
|
|
|
|
144,755
|
|
Rent-A-Center, Cl A
|
|
|
6,303
|
|
|
|
183,605
|
|
Rubicon Project*
|
|
|
12,673
|
|
|
|
118,619
|
|
Skechers U.S.A., Cl A*
|
|
|
4,011
|
|
|
|
149,971
|
|
Sonic Automotive, Cl A
|
|
|
3,806
|
|
|
|
120,384
|
|
Stamps.com*
|
|
|
1,666
|
|
|
|
124,101
|
|
Target
|
|
|
1,381
|
|
|
|
152,932
|
|
Taylor Morrison Home, Cl A*
|
|
|
4,490
|
|
|
|
116,201
|
|
TopBuild*
|
|
|
1,172
|
|
|
|
134,206
|
|
Winnebago Industries
|
|
|
2,730
|
|
|
|
149,495
|
|
XPEL*
|
|
|
10,225
|
|
|
|
169,735
|
|
Zumiez*
|
|
|
3,712
|
|
|
|
115,703
|
|
|
|
|
|
|
|
|
3,527,713
|
|
Consumer Staples — 3.1%
|
|
|
|
|
|
|
|
|
Ingles Markets, Cl A
|
|
|
2,888
|
|
|
|
120,401
|
|
John B Sanfilippo & Son
|
|
|
1,183
|
|
|
|
99,727
|
|
Sanderson Farms
|
|
|
777
|
|
|
|
106,985
|
|
Tyson Foods, Cl A
|
|
|
1,272
|
|
|
|
105,105
|
|
|
|
|
|
|
|
|
432,218
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Value and Momentum ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Energy — 9.5%
|
|
|
|
|
|
|
|
|
Cosan, Cl A*
|
|
|
11,636
|
|
|
$
|
257,040
|
|
CVR Energy
|
|
|
3,197
|
|
|
|
110,648
|
|
Dorian LPG*
|
|
|
10,636
|
|
|
|
139,544
|
|
Dril-Quip*
|
|
|
2,120
|
|
|
|
86,708
|
|
Green Plains*
|
|
|
8,204
|
|
|
|
102,304
|
|
Helix Energy Solutions Group*
|
|
|
17,265
|
|
|
|
143,990
|
|
Phillips 66
|
|
|
1,162
|
|
|
|
106,172
|
|
Teekay Tankers, Cl A*
|
|
|
6,118
|
|
|
|
99,662
|
|
Valero Energy
|
|
|
1,372
|
|
|
|
115,673
|
|
World Fuel Services
|
|
|
4,527
|
|
|
|
177,096
|
|
|
|
|
|
|
|
|
1,338,837
|
|
Financials — 19.7%
|
|
|
|
|
|
|
|
|
Aflac
|
|
|
2,243
|
|
|
|
115,672
|
|
Arch Capital Group*
|
|
|
4,160
|
|
|
|
183,706
|
|
Ares Capital
|
|
|
6,415
|
|
|
|
120,730
|
|
Assured Guaranty
|
|
|
2,630
|
|
|
|
120,559
|
|
Cannae Holdings*
|
|
|
6,578
|
|
|
|
267,462
|
|
Cincinnati Financial
|
|
|
1,284
|
|
|
|
134,756
|
|
eHealth*
|
|
|
2,641
|
|
|
|
277,727
|
|
Employers Holdings
|
|
|
2,392
|
|
|
|
102,019
|
|
Essent Group
|
|
|
3,039
|
|
|
|
150,765
|
|
Hanover Insurance Group
|
|
|
898
|
|
|
|
124,445
|
|
NMI Holdings, Cl A*
|
|
|
5,077
|
|
|
|
162,058
|
|
Old Republic International
|
|
|
10,304
|
|
|
|
232,354
|
|
Radian Group
|
|
|
6,386
|
|
|
|
156,393
|
|
RenaissanceRe Holdings
|
|
|
938
|
|
|
|
177,695
|
|
Selective Insurance Group
|
|
|
1,632
|
|
|
|
108,120
|
|
Voya Financial
|
|
|
2,669
|
|
|
|
159,419
|
|
WR Berkley
|
|
|
2,362
|
|
|
|
173,678
|
|
|
|
|
|
|
|
|
2,767,558
|
|
Health Care — 0.6%
|
|
|
|
|
|
|
|
|
Anika Therapeutics*
|
|
|
2,146
|
|
|
|
88,222
|
|
|
|
|
|
|
|
|
|
|
Industrials — 19.4%
|
|
|
|
|
|
|
|
|
AGCO
|
|
|
1,932
|
|
|
|
135,510
|
|
Arcosa
|
|
|
2,835
|
|
|
|
124,031
|
|
BMC Stock Holdings*
|
|
|
4,907
|
|
|
|
143,211
|
|
Builders FirstSource*
|
|
|
5,517
|
|
|
|
136,794
|
|
Construction Partners, Cl A*
|
|
|
7,412
|
|
|
|
124,372
|
|
Cummins
|
|
|
859
|
|
|
|
137,414
|
|
Delta Air Lines
|
|
|
1,907
|
|
|
|
106,296
|
|
EMCOR Group
|
|
|
1,210
|
|
|
|
99,426
|
|
Foundation Building Materials*
|
|
|
7,077
|
|
|
|
126,183
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Value and Momentum ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
FTI Consulting*
|
|
|
2,590
|
|
|
$
|
310,956
|
|
GMS*
|
|
|
3,918
|
|
|
|
104,689
|
|
Jacobs Engineering Group
|
|
|
1,247
|
|
|
|
115,385
|
|
KAR Auction Services
|
|
|
4,546
|
|
|
|
95,557
|
|
Kimball International, Cl B
|
|
|
5,846
|
|
|
|
109,788
|
|
ManpowerGroup
|
|
|
1,084
|
|
|
|
99,175
|
|
MasTec*
|
|
|
1,754
|
|
|
|
101,294
|
|
NOW*
|
|
|
9,092
|
|
|
|
91,011
|
|
Oshkosh
|
|
|
1,238
|
|
|
|
106,518
|
|
Quanta Services
|
|
|
2,678
|
|
|
|
104,844
|
|
Saia*
|
|
|
1,179
|
|
|
|
102,691
|
|
Steelcase, Cl A
|
|
|
6,612
|
|
|
|
123,049
|
|
Universal Forest Products
|
|
|
2,833
|
|
|
|
135,701
|
|
|
|
|
|
|
|
|
2,733,895
|
|
Information Technology — 11.6%
|
|
|
|
|
|
|
|
|
Anixter International*
|
|
|
1,484
|
|
|
|
144,838
|
|
Benchmark Electronics
|
|
|
3,858
|
|
|
|
118,749
|
|
Canadian Solar*
|
|
|
7,089
|
|
|
|
142,134
|
|
Fabrinet*
|
|
|
1,925
|
|
|
|
121,352
|
|
KBR
|
|
|
7,059
|
|
|
|
192,005
|
|
KEMET
|
|
|
4,942
|
|
|
|
128,690
|
|
Micron Technology*
|
|
|
2,316
|
|
|
|
122,956
|
|
Sanmina*
|
|
|
4,617
|
|
|
|
147,005
|
|
Tech Data*
|
|
|
1,333
|
|
|
|
191,873
|
|
Ultra Clean Holdings*
|
|
|
7,636
|
|
|
|
175,705
|
|
Xerox Holdings
|
|
|
4,158
|
|
|
|
147,900
|
|
|
|
|
|
|
|
|
1,633,207
|
|
Materials — 2.5%
|
|
|
|
|
|
|
|
|
Advanced Emissions Solutions(A)
|
|
|
8,004
|
|
|
|
91,166
|
|
Commercial Metals
|
|
|
6,034
|
|
|
|
123,999
|
|
Reliance Steel & Aluminum
|
|
|
1,134
|
|
|
|
130,182
|
|
|
|
|
|
|
|
|
345,347
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $11,601,199)
|
|
|
|
|
|
|
13,391,649
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 0.5%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
69,000
|
|
|
|
69,000
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $69,000)
|
|
|
|
|
|
|
69,000
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Value and Momentum ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
Total Investments - 95.7%
|
|
|
|
|
|
|
|
|
(Cost $11,670,199)
|
|
|
|
|
|
$
|
13,460,649
|
|
Other Assets and Liabilities - 4.3%
|
|
|
|
|
|
|
604,402
|
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
14,065,051
|
|
Percentages based on Net Assets.
*
|
Non-income producing security.
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $68,340.
|
(B)
|
This security was purchased with cash collateral held from securities on loan. The total market value of such securities as of January 31, 2020 was $69,000.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
Cl — Class
|
PLC — Public Limited Company
|
S&P — Standard & Poor’s
|
The open futures contracts held by the
Fund January 31, 2020, is as follows:
Type of
Contract
|
|
Number of
Contracts
Short
|
|
Expiration
Date
|
|
Notional Amount
|
|
Value
|
|
Unrealized
Depreciation
|
S&P 500 Index E-MINI
|
|
50
|
|
Mar-2020
|
|
$
|
(5,611,228
|
)
|
|
$
|
(5,642,000
|
)
|
|
$
|
(30,772
|
)
|
As of January 31, 2020, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers
in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-006-0900
Cambria Investment Management
Schedule of Investments ● Cambria
Sovereign Bond ETF ● January 31, 2020 (unaudited)
Description
|
|
|
|
Face
Amount(1)
|
|
Value
|
|
|
|
|
|
|
|
SOVEREIGN DEBT — 87.4%
|
|
|
|
|
|
|
|
|
|
|
Argentina — 0.8%
|
|
|
|
|
|
|
|
|
|
|
Argentine Bonos del Tesoro
|
|
|
|
|
|
|
|
|
|
|
18.200%, 10/03/21
|
|
ARS
|
|
$
|
7,807,548
|
|
|
$
|
62,988
|
|
16.000%, 10/17/23
|
|
ARS
|
|
|
7,741,104
|
|
|
|
47,510
|
|
15.500%, 10/17/26
|
|
ARS
|
|
|
7,416,423
|
|
|
|
41,071
|
|
|
|
|
|
|
|
|
|
|
151,569
|
|
Australia — 3.8%
|
|
|
|
|
|
|
|
|
|
|
Queensland Treasury
|
|
|
|
|
|
|
|
|
|
|
5.750%, 07/22/24
|
|
AUD
|
|
|
609,000
|
|
|
|
493,102
|
|
4.750%, 07/21/25 (A)
|
|
AUD
|
|
|
289,000
|
|
|
|
231,543
|
|
|
|
|
|
|
|
|
|
|
724,645
|
|
Brazil — 5.3%
|
|
|
|
|
|
|
|
|
|
|
Brazilian Government International Bond
|
|
|
|
|
|
|
|
|
|
|
8.500%, 01/05/24
|
|
BRL
|
|
|
3,850,000
|
|
|
|
997,875
|
|
|
|
|
|
|
|
|
|
|
|
|
Chile — 2.7%
|
|
|
|
|
|
|
|
|
|
|
Bonos de la Tesoreria de la Republica en pesos
|
|
|
|
|
|
|
|
|
|
|
6.000%, 01/01/24
|
|
CLP
|
|
|
210,000,000
|
|
|
|
297,153
|
|
4.500%, 03/01/26
|
|
CLP
|
|
|
160,000,000
|
|
|
|
216,948
|
|
|
|
|
|
|
|
|
|
|
514,101
|
|
Colombia — 3.9%
|
|
|
|
|
|
|
|
|
|
|
Colombian TES
|
|
|
|
|
|
|
|
|
|
|
11.000%, 07/24/20
|
|
COP
|
|
|
741,000,000
|
|
|
|
223,428
|
|
7.500%, 08/26/26
|
|
COP
|
|
|
812,500,000
|
|
|
|
263,877
|
|
7.000%, 05/04/22
|
|
COP
|
|
|
819,000,000
|
|
|
|
250,789
|
|
|
|
|
|
|
|
|
|
|
738,094
|
|
Croatia — 2.9%
|
|
|
|
|
|
|
|
|
|
|
Croatia Government International Bond
|
|
|
|
|
|
|
|
|
|
|
6.000%, 01/26/24
|
|
USD
|
|
|
140,000
|
|
|
|
160,888
|
|
5.500%, 04/04/23
|
|
USD
|
|
|
350,000
|
|
|
|
386,583
|
|
|
|
|
|
|
|
|
|
|
547,471
|
|
Greece — 3.7%
|
|
|
|
|
|
|
|
|
|
|
Hellenic Republic Government International Bond
|
|
|
|
|
|
|
|
|
|
|
3.000%,3.650%, 02/24/2024, 02/24/2024 (B)
|
|
EUR
|
|
|
560,916
|
|
|
|
702,696
|
|
|
|
|
|
|
|
|
|
|
|
|
Hungary — 3.2%
|
|
|
|
|
|
|
|
|
|
|
Hungary Government International Bond
|
|
|
|
|
|
|
|
|
|
|
6.000%, 11/24/23
|
|
HUF
|
|
|
67,200,000
|
|
|
|
264,601
|
|
5.500%, 06/24/25
|
|
HUF
|
|
|
82,700,000
|
|
|
|
333,082
|
|
|
|
|
|
|
|
|
|
|
597,683
|
|
Indonesia — 3.8%
|
|
|
|
|
|
|
|
|
|
|
Indonesia Treasury Bond
|
|
|
|
|
|
|
|
|
|
|
8.375%, 03/15/24
|
|
IDR
|
|
|
6,390,000,000
|
|
|
|
508,673
|
|
7.000%, 05/15/27
|
|
IDR
|
|
|
2,760,000,000
|
|
|
|
206,423
|
|
|
|
|
|
|
|
|
|
|
715,096
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Sovereign Bond ETF ● January 31, 2020 (unaudited)
Description
|
|
|
|
Face
Amount(1)
|
|
Value
|
Italy — 2.5%
|
|
|
Italy Buoni Poliennali Del Tesoro
|
|
|
|
|
|
|
|
|
|
|
2.800%, 12/01/28
|
|
EUR
|
|
|
357,000
|
|
|
$
|
464,149
|
|
|
|
|
|
|
|
|
|
|
|
|
Malaysia — 3.9%
|
|
|
|
|
|
|
|
|
|
|
Malaysia Government International Bond
|
|
|
|
|
|
|
|
|
|
|
4.498%, 04/15/30
|
|
MYR
|
|
|
1,055,000
|
|
|
|
285,555
|
|
4.392%, 04/15/26
|
|
MYR
|
|
|
158,000
|
|
|
|
41,386
|
|
4.181%, 07/15/24
|
|
MYR
|
|
|
1,442,000
|
|
|
|
368,796
|
|
Malaysia Government Investment Issue
|
|
|
|
|
|
|
|
|
|
|
4.070%, 09/30/26
|
|
MYR
|
|
|
158,000
|
|
|
|
40,709
|
|
|
|
|
|
|
|
|
|
|
736,446
|
|
Mexico — 6.9%
|
|
|
|
|
|
|
|
|
|
|
Mexican Bonos
|
|
|
|
|
|
|
|
|
|
|
10.000%, 12/05/24
|
|
MXN
|
|
|
2,828,882
|
|
|
|
170,917
|
|
8.500%, 05/31/29
|
|
MXN
|
|
|
8,906,716
|
|
|
|
531,660
|
|
7.500%, 06/03/27
|
|
MXN
|
|
|
10,786,298
|
|
|
|
599,792
|
|
|
|
|
|
|
|
|
|
|
1,302,369
|
|
New Zealand — 2.7%
|
|
|
|
|
|
|
|
|
|
|
New Zealand Government International Bond
|
|
|
|
|
|
|
|
|
|
|
4.500%, 04/15/27
|
|
NZD
|
|
|
643,000
|
|
|
|
509,095
|
|
|
|
|
|
|
|
|
|
|
|
|
Peru — 4.8%
|
|
|
|
|
|
|
|
|
|
|
Peruvian Government International Bond
|
|
|
|
|
|
|
|
|
|
|
4.125%, 08/25/27
|
|
USD
|
|
|
798,000
|
|
|
|
909,321
|
|
|
|
|
|
|
|
|
|
|
|
|
Philippines — 3.3%
|
|
|
|
|
|
|
|
|
|
|
Philippine Government International Bond
|
|
|
|
|
|
|
|
|
|
|
8.000%, 07/19/31
|
|
PHP
|
|
|
23,853,684
|
|
|
|
616,597
|
|
|
|
|
|
|
|
|
|
|
|
|
Poland — 3.8%
|
|
|
|
|
|
|
|
|
|
|
Poland Government International Bond
|
|
|
|
|
|
|
|
|
|
|
5.750%, 04/25/29
|
|
PLN
|
|
|
962,000
|
|
|
|
326,075
|
|
3.250%, 07/25/25
|
|
PLN
|
|
|
693,000
|
|
|
|
191,076
|
|
2.500%, 07/25/26
|
|
PLN
|
|
|
756,000
|
|
|
|
200,511
|
|
|
|
|
|
|
|
|
|
|
717,662
|
|
Romania — 3.5%
|
|
|
|
|
|
|
|
|
|
|
Romania Government International Bond
|
|
|
|
|
|
|
|
|
|
|
5.850%, 04/26/23
|
|
RON
|
|
|
630,000
|
|
|
|
155,597
|
|
5.800%, 07/26/27
|
|
RON
|
|
|
1,470,000
|
|
|
|
377,628
|
|
4.750%, 02/24/25
|
|
RON
|
|
|
500,000
|
|
|
|
120,383
|
|
|
|
|
|
|
|
|
|
|
653,608
|
|
Russia — 6.8%
|
|
|
|
|
|
|
|
|
|
|
Russian Federal Bond - OFZ
|
|
|
|
|
|
|
|
|
|
|
7.600%, 04/14/21
|
|
RUB
|
|
|
26,859,000
|
|
|
|
431,088
|
|
7.600%, 07/20/22
|
|
RUB
|
|
|
11,343,000
|
|
|
|
186,012
|
|
7.000%, 01/25/23
|
|
RUB
|
|
|
40,845,000
|
|
|
|
664,361
|
|
|
|
|
|
|
|
|
|
|
1,281,461
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Sovereign Bond ETF ● January 31, 2020 (unaudited)
Description
|
|
|
|
Face
Amount(1)
|
|
Value
|
South Africa — 6.9%
|
|
|
|
|
|
|
|
|
|
|
South Africa Government International Bond
|
|
|
|
|
|
|
|
|
|
|
8.250%, 03/31/32
|
|
ZAR
|
|
|
4,456,473
|
|
|
$
|
272,649
|
|
8.000%, 01/31/30
|
|
ZAR
|
|
|
16,510,788
|
|
|
|
1,029,434
|
|
|
|
|
|
|
|
|
|
|
1,302,083
|
|
Thailand — 4.1%
|
|
|
|
|
|
|
|
|
|
|
Thailand Government International Bond
|
|
|
|
|
|
|
|
|
|
|
3.625%, 06/16/23
|
|
THB
|
|
|
22,143,000
|
|
|
|
768,689
|
|
|
|
|
|
|
|
|
|
|
|
|
Turkey — 8.1%
|
|
|
|
|
|
|
|
|
|
|
Turkey Government International Bond
|
|
|
|
|
|
|
|
|
|
|
10.700%, 02/17/21
|
|
TRY
|
|
|
4,431,000
|
|
|
|
747,045
|
|
8.500%, 09/14/22
|
|
TRY
|
|
|
4,641,000
|
|
|
|
755,309
|
|
|
|
|
|
|
|
|
|
|
1,502,354
|
|
Total Sovereign Debt
|
|
|
|
|
|
|
|
|
|
|
(Cost $17,744,765)
|
|
|
|
|
|
|
|
|
16,453,064
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. TREASURY OBLIGATION — 9.6%
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury Notes
|
|
|
|
|
|
|
|
|
|
|
2.250%, 02/15/27
|
|
|
|
|
1,716,500
|
|
|
|
1,810,237
|
|
|
|
|
|
|
|
|
|
|
|
|
Total U.S. Treasury Obligations
|
|
|
|
|
|
|
|
|
|
|
(Cost $1,678,068)
|
|
|
|
|
|
|
|
|
1,810,237
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 97.0%
|
|
|
|
|
|
|
|
|
|
|
(Cost $19,422,833)
|
|
|
|
|
|
|
|
$
|
18,263,301
|
|
Other Assets and Liabilities - 3.0%
|
|
|
|
|
|
|
|
|
563,686
|
|
Net Assets - 100.0%
|
|
|
|
|
|
|
|
$
|
18,826,987
|
|
Percentages based on Net Assets.
(1)
|
In U.S. dollars unless otherwise indicated.
|
Cambria Investment Management
Schedule of Investments ● Cambria
Sovereign Bond ETF ● January 31, 2020 (unaudited)
(A)
|
Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” These securities are deemed to be liquid by the Board of Trustees. The total value of such securities at January 31, 2020 was $231,543 and represents 1.2% of Net Assets.
|
(B)
|
Step Bonds – Represents the current rate, the step rate, the step date and the final maturity date.
|
ARS — Argentine Peso
|
AUD — Australian Dollar
|
BRL — Brazilian Real
|
CLP — Chilean Peso
|
COP — Colombian Peso
|
EUR — Euro
|
HUF — Hungarian Forint
|
IDR — Indonesian Rupiah
|
MXN — Mexican Peso
|
MYR — Malaysian Ringgit
|
NZD — New Zealand Dollar
|
PHP — Philippine Peso
|
PLN — Polish Zloty
|
RON — Romanian Leu
|
RUB — Russian Ruble
|
THB — Thailand Baht
|
TRY — Turkish Lira
|
ZAR — South African Rand
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 2, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-007-0800
Cambria Investment Management
Schedule of Investments ● Cambria
Emerging Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 98.8%
|
|
|
|
|
|
|
|
|
Brazil — 11.5%
|
|
|
|
|
|
|
|
|
Cia de Saneamento Basico do Estado de Sao Paulo *
|
|
|
26,400
|
|
|
$
|
376,650
|
|
Cyrela Brazil Realty Empreendimentos e Participacoes
|
|
|
74,400
|
|
|
|
555,751
|
|
Direcional Engenharia
|
|
|
96,000
|
|
|
|
366,730
|
|
Duratex
|
|
|
108,000
|
|
|
|
397,693
|
|
MRV Engenharia e Participacoes
|
|
|
86,400
|
|
|
|
421,852
|
|
Qualicorp Consultoria e Corretora de Seguros
|
|
|
67,200
|
|
|
|
648,996
|
|
Ser Educacional
|
|
|
60,000
|
|
|
|
432,074
|
|
SLC Agricola
|
|
|
96,000
|
|
|
|
511,316
|
|
YDUQS Part
|
|
|
43,200
|
|
|
|
534,628
|
|
|
|
|
|
|
|
|
4,245,690
|
|
China — 0.7%
|
|
|
|
|
|
|
|
|
China Petroleum & Chemical ADR
|
|
|
4,695
|
|
|
|
246,159
|
|
|
|
|
|
|
|
|
|
|
Colombia — 1.1%
|
|
|
|
|
|
|
|
|
Banco de Bogota
|
|
|
15,960
|
|
|
|
415,333
|
|
|
|
|
|
|
|
|
|
|
Czech Republic — 1.0%
|
|
|
|
|
|
|
|
|
O2 Czech Republic
|
|
|
35,304
|
|
|
|
364,038
|
|
|
|
|
|
|
|
|
|
|
Greece — 3.9%
|
|
|
|
|
|
|
|
|
Aegean Airlines
|
|
|
39,384
|
|
|
|
366,030
|
|
Hellenic Petroleum
|
|
|
43,776
|
|
|
|
384,030
|
|
JUMBO
|
|
|
13,732
|
|
|
|
279,766
|
|
Motor Oil Hellas Corinth Refineries
|
|
|
20,064
|
|
|
|
427,239
|
|
|
|
|
|
|
|
|
1,457,065
|
|
Hong Kong — 15.8%
|
|
|
|
|
|
|
|
|
China Lilang
|
|
|
480,000
|
|
|
|
342,389
|
|
China Medical System Holdings
|
|
|
264,000
|
|
|
|
354,873
|
|
China Merchants Bank, Cl H
|
|
|
55,430
|
|
|
|
270,491
|
|
China National Building Material, Cl H
|
|
|
356,571
|
|
|
|
344,790
|
|
China Telecom, Cl H
|
|
|
1,152,000
|
|
|
|
450,915
|
|
CNOOC
|
|
|
288,000
|
|
|
|
439,791
|
|
Fufeng Group
|
|
|
678,858
|
|
|
|
263,970
|
|
Great Wall Motor, Cl H
|
|
|
492,000
|
|
|
|
329,411
|
|
Greatview Aseptic Packaging
|
|
|
666,286
|
|
|
|
265,945
|
|
Greenland Hong Kong Holdings
|
|
|
1,032,000
|
|
|
|
394,644
|
|
Industrial & Commercial Bank of China, Cl H
|
|
|
504,000
|
|
|
|
338,743
|
|
Lenovo Group
|
|
|
352,001
|
|
|
|
232,504
|
|
PICC Property & Casualty, Cl H
|
|
|
288,000
|
|
|
|
311,117
|
|
Shenzhen Expressway, Cl H
|
|
|
336,000
|
|
|
|
436,083
|
|
Sinopec Shanghai Petrochemical ADR
|
|
|
8,242
|
|
|
|
210,006
|
|
West China Cement
|
|
|
2,139,429
|
|
|
|
347,087
|
|
Yanzhou Coal Mining, Cl H
|
|
|
361,144
|
|
|
|
268,768
|
|
Zhejiang Expressway, Cl H
|
|
|
319,999
|
|
|
|
262,868
|
|
|
|
|
|
|
|
|
5,864,395
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Emerging Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
|
|
|
|
|
|
Hungary — 0.6%
|
|
|
|
|
|
|
|
|
Magyar Telekom Telecommunications
|
|
|
157,313
|
|
|
$
|
234,779
|
|
|
|
|
|
|
|
|
|
|
Indonesia — 0.9%
|
|
|
|
|
|
|
|
|
Gudang Garam
|
|
|
83,885
|
|
|
|
342,635
|
|
|
|
|
|
|
|
|
|
|
Mexico — 0.8%
|
|
|
|
|
|
|
|
|
Nemak
|
|
|
705,600
|
|
|
|
293,136
|
|
|
|
|
|
|
|
|
|
|
Russia — 11.4%
|
|
|
|
|
|
|
|
|
Alrosa PJSC
|
|
|
292,800
|
|
|
|
367,274
|
|
Center for Cargo Container Traffic TransContainer PJSC
|
|
|
7,666
|
|
|
|
1,031,126
|
|
Gazprom Neft PJSC
|
|
|
89,280
|
|
|
|
623,407
|
|
Gazprom PJSC
|
|
|
169,200
|
|
|
|
599,924
|
|
LUKOIL PJSC
|
|
|
6,864
|
|
|
|
703,227
|
|
Novolipetsk Steel PJSC
|
|
|
183,360
|
|
|
|
395,756
|
|
Severstal PJSC
|
|
|
34,080
|
|
|
|
485,795
|
|
|
|
|
|
|
|
|
4,206,509
|
|
South Africa — 11.4%
|
|
|
|
|
|
|
|
|
African Rainbow Minerals
|
|
|
60,768
|
|
|
|
683,901
|
|
Assore
|
|
|
22,128
|
|
|
|
361,603
|
|
Astral Foods
|
|
|
22,560
|
|
|
|
299,292
|
|
BHP Group
|
|
|
21,648
|
|
|
|
469,813
|
|
Kumba Iron Ore
|
|
|
23,712
|
|
|
|
552,239
|
|
Momentum Metropolitan Holdings
|
|
|
262,368
|
|
|
|
349,451
|
|
Nedbank Group
|
|
|
29,640
|
|
|
|
386,504
|
|
Reunert
|
|
|
67,910
|
|
|
|
277,776
|
|
RMB Holdings
|
|
|
100,109
|
|
|
|
491,790
|
|
Telkom SOC
|
|
|
90,701
|
|
|
|
194,957
|
|
Truworths International
|
|
|
52,186
|
|
|
|
153,340
|
|
|
|
|
|
|
|
|
4,220,666
|
|
South Korea — 3.9%
|
|
|
|
|
|
|
|
|
Huchems Fine Chemical
|
|
|
25,032
|
|
|
|
409,552
|
|
Hyundai Mobis
|
|
|
3,005
|
|
|
|
578,636
|
|
Kumho Industrial
|
|
|
26,888
|
|
|
|
213,642
|
|
Ssangyong Cement Industrial
|
|
|
59,377
|
|
|
|
247,352
|
|
|
|
|
|
|
|
|
1,449,182
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Emerging Shareholder Yield ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
|
|
|
|
|
|
Taiwan — 24.8%
|
|
|
|
|
|
|
|
|
Amazing Microelectronic
|
|
|
96,000
|
|
|
$
|
295,223
|
|
Asustek Computer
|
|
|
24,000
|
|
|
|
177,960
|
|
Aten International
|
|
|
120,000
|
|
|
|
333,675
|
|
Chenbro Micom
|
|
|
144,000
|
|
|
|
550,565
|
|
Chicony Electronics
|
|
|
120,000
|
|
|
|
341,223
|
|
Chong Hong Construction
|
|
|
216,000
|
|
|
|
600,616
|
|
CyberPower Systems
|
|
|
72,000
|
|
|
|
246,681
|
|
Formosa Chemicals & Fibre
|
|
|
144,000
|
|
|
|
404,701
|
|
GEM Services
|
|
|
105,600
|
|
|
|
210,788
|
|
Global Mixed Mode Technology
|
|
|
72,000
|
|
|
|
272,899
|
|
Innodisk
|
|
|
72,000
|
|
|
|
419,479
|
|
Iron Force Industrial Co
|
|
|
72,000
|
|
|
|
243,106
|
|
Micro-Star International
|
|
|
96,000
|
|
|
|
294,905
|
|
Nan Ya Plastics
|
|
|
192,000
|
|
|
|
442,993
|
|
Nanya Technology
|
|
|
120,000
|
|
|
|
310,239
|
|
Novatek Microelectronics
|
|
|
120,000
|
|
|
|
865,967
|
|
Powertech Technology
|
|
|
120,000
|
|
|
|
429,011
|
|
Radiant Opto-Electronics
|
|
|
96,000
|
|
|
|
333,675
|
|
SCI Pharmtech
|
|
|
96,000
|
|
|
|
312,384
|
|
Simplo Technology
|
|
|
48,000
|
|
|
|
510,048
|
|
Sitronix Technology
|
|
|
72,000
|
|
|
|
368,235
|
|
Tong Hsing Electronic Industries
|
|
|
72,000
|
|
|
|
361,084
|
|
Topco Scientific
|
|
|
96,000
|
|
|
|
343,209
|
|
Tripod Technology
|
|
|
96,000
|
|
|
|
357,509
|
|
Wistron NeWeb
|
|
|
72,000
|
|
|
|
168,506
|
|
|
|
|
|
|
|
|
9,194,681
|
|
Thailand — 1.0%
|
|
|
|
|
|
|
|
|
Tisco Financial Group
|
|
|
110,400
|
|
|
|
364,812
|
|
|
|
|
|
|
|
|
|
|
Turkey — 10.0%
|
|
|
|
|
|
|
|
|
Dogan Sirketler Grubu Holding
|
|
|
1,449,120
|
|
|
|
493,956
|
|
Dogus Otomotiv Servis ve Ticaret
|
|
|
215,352
|
|
|
|
432,881
|
|
Enka Insaat ve Sanayi
|
|
|
645,504
|
|
|
|
760,399
|
|
Eregli Demir ve Celik Fabrikalari
|
|
|
238,272
|
|
|
|
371,457
|
|
Iskenderun Demir ve Celik
|
|
|
263,229
|
|
|
|
341,750
|
|
Tekfen Holding
|
|
|
154,680
|
|
|
|
497,530
|
|
Tofas Turk Otomobil Fabrikasi
|
|
|
76,704
|
|
|
|
338,358
|
|
Vestel Beyaz Esya Sanayi ve Ticaret
|
|
|
109,852
|
|
|
|
454,111
|
|
|
|
|
|
|
|
|
3,690,442
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $36,355,978)
|
|
|
|
|
|
|
36,589,522
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 98.8%
|
|
|
|
|
|
|
|
|
(Cost $36,355,978)
|
|
|
|
|
|
$
|
36,589,522
|
|
Other Assets and Liabilities - 1.2%
|
|
|
|
|
|
|
426,471
|
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
37,015,993
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Emerging Shareholder Yield ETF ● January 31, 2020 (unaudited)
Percentages based on Net Assets.
*
Non-income producing security.
ADR — American Depositary Receipt
Cl — Class
PJSC — Public Joint Stock Company
As of January 31, 2020, all of the Fund’s investments were considered Level 1 in accordance with the authoritative guidance of fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-008-0800
Cambria Investment Management
Schedule of Investments ● Cambria
Tail Risk ETF ● January 31, 2020 (unaudited)
Description
|
|
Face
Amount
|
|
Value
|
|
|
|
U.S. TREASURY OBLIGATION — 95.5%
|
|
|
|
|
|
|
|
|
U.S. Treasury Notes
|
|
|
|
|
|
|
|
|
2.250%, 02/15/27
|
|
$
|
68,152,600
|
|
|
$
|
71,874,371
|
|
|
|
|
|
|
|
|
|
|
Total U.S. Treasury Obligations
|
|
|
|
|
|
|
|
|
(Cost $68,378,209)
|
|
|
|
|
|
|
71,874,371
|
|
|
|
|
|
|
|
|
|
|
Total Investments - 95.5%
|
|
|
|
|
|
|
|
|
(Cost $68,378,209)
|
|
|
|
|
|
$
|
71,874,371
|
|
Other Assets and Liabilities – 4.5%
|
|
|
|
|
|
|
3,387,436
|
|
Net Assets – 100.0%
|
|
|
|
|
|
$
|
75,261,807
|
|
|
|
|
|
|
|
|
|
|
Purchased Options— 3.2%(A)
|
|
|
|
|
|
|
|
|
Total Purchased Options
|
|
|
|
|
|
|
|
|
(Cost $4,762,509)
|
|
|
|
|
|
|
2,393,705
|
|
Percentages based on Net Assets.
(A)
|
Refer to table below for details on Options Contracts.
|
Cambria Investment Management
Schedule of Investments ● Cambria
Tail Risk ETF ● January 31, 2020 (unaudited)
A list of the exchange traded option contracts held by the Fund
at January 31, 2020, is as follows:
|
|
Contracts
|
|
Notional Amount
|
|
Value
|
|
|
|
|
|
|
|
PURCHASED OPTIONS - 3.2%
|
Put Options
|
|
|
|
|
|
|
|
|
|
|
SPX, Expires 03/21/2020, Strike Price $2,550
|
|
13
|
|
$
|
4,200,014
|
|
|
$
|
3,965
|
|
SPX, Expires 03/21/2020, Strike Price $2,600
|
|
38
|
|
|
12,276,964
|
|
|
|
13,680
|
|
SPX, Expires 03/21/2020, Strike Price $2,700
|
|
18
|
|
|
5,815,404
|
|
|
|
9,990
|
|
SPX, Expires 06/20/2020, Strike Price $2,600
|
|
144
|
|
|
46,523,232
|
|
|
|
254,160
|
|
SPX, Expires 06/20/2020, Strike Price $2,700
|
|
35
|
|
|
11,307,730
|
|
|
|
85,225
|
|
SPX, Expires 06/20/2020, Strike Price $3,000
|
|
54
|
|
|
17,446,212
|
|
|
|
331,830
|
|
SPX, Expires 09/19/2020, Strike Price $2,700
|
|
17
|
|
|
5,492,326
|
|
|
|
74,375
|
|
SPX, Expires 09/19/2020, Strike Price $2,800
|
|
6
|
|
|
1,938,468
|
|
|
|
33,990
|
|
SPX, Expires 09/19/2020, Strike Price $2,900
|
|
44
|
|
|
14,215,432
|
|
|
|
319,440
|
|
SPX, Expires 12/19/2020, Strike Price $2,700
|
|
42
|
|
|
13,569,276
|
|
|
|
267,750
|
|
SPX, Expires 12/19/2020, Strike Price $2,725
|
|
10
|
|
|
3,230,780
|
|
|
|
67,550
|
|
SPX, Expires 12/19/2020, Strike Price $2,825
|
|
17
|
|
|
5,492,326
|
|
|
|
143,565
|
|
SPX, Expires 12/19/2020, Strike Price $2,850
|
|
10
|
|
|
3,230,780
|
|
|
|
89,200
|
|
SPX, Expires 12/19/2020, Strike Price $3,000
|
|
50
|
|
|
16,153,900
|
|
|
|
610,750
|
|
SPX, Expires 06/19/2021, Strike Price $2,850
|
|
7
|
|
|
2,261,546
|
|
|
|
88,235
|
|
Total Purchased Options
|
|
|
|
|
|
|
|
|
2,393,705
|
|
The following is a list of the inputs used as of January 31, 2020 in valuing the Fund’s investments and other financial instruments carried at value:
|
Investments in Securities
|
|
|
Level 1
|
|
|
|
Level 2
|
|
|
|
Level 3
|
|
|
|
Total
|
|
U.S. Treasury Obligation
|
|
$
|
—
|
|
|
$
|
71,874,371
|
|
|
$
|
—
|
|
|
$
|
71,874,371
|
|
Total Investments in Securities
|
|
$
|
—
|
|
|
$
|
71,874,371
|
|
|
$
|
—
|
|
|
$
|
71,874,371
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments
|
|
|
Level 1
|
|
|
|
Level 2
|
|
|
|
Level 3
|
|
|
|
Total
|
|
Purchased Options
|
|
$
|
2,393,705
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,393,705
|
|
Total Other Financial Instruments
|
|
$
|
2,393,705
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,393,705
|
|
As of January 31, 2020, there were no transfers in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-011-0600
Cambria Investment Management
Schedule of Investments ● Cambria
Trinity ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
EXCHANGE TRADED FUNDS — 97.8%
|
|
|
|
|
|
|
|
|
United States — 97.8%
|
|
|
|
|
|
|
|
|
Affiliated ETF — 34.5%
|
|
|
|
|
|
|
|
|
Cambria Emerging Shareholder Yield ETF‡ (A)
|
|
|
80,984
|
|
|
$
|
2,476,960
|
|
Cambria Foreign Shareholder Yield ETF‡
|
|
|
106,317
|
|
|
|
2,484,097
|
|
Cambria Global Value ETF‡
|
|
|
110,390
|
|
|
|
2,533,451
|
|
Cambria Shareholder Yield ETF‡
|
|
|
64,774
|
|
|
|
2,451,696
|
|
Cambria Sovereign Bond ETF‡
|
|
|
84,345
|
|
|
|
2,129,290
|
|
Cambria Value and Momentum ETF‡
|
|
|
132,685
|
|
|
|
2,642,422
|
|
|
|
|
|
|
|
|
14,717,916
|
|
Equity ETF — 30.9%
|
|
|
|
|
|
|
|
|
Invesco DB Precious Metals Fund
|
|
|
21,210
|
|
|
|
913,784
|
|
iShares Global Consumer Staples ETF
|
|
|
16,904
|
|
|
|
934,453
|
|
iShares Global Financials ETF
|
|
|
12,565
|
|
|
|
832,683
|
|
iShares Global Healthcare ETF
|
|
|
14,711
|
|
|
|
996,229
|
|
iShares Global Industrials ETF
|
|
|
9,966
|
|
|
|
958,530
|
|
iShares Global Infrastructure ETF
|
|
|
23,738
|
|
|
|
1,151,293
|
|
iShares Global Tech ETF
|
|
|
4,241
|
|
|
|
913,384
|
|
iShares Global Utilities ETF
|
|
|
18,872
|
|
|
|
1,173,650
|
|
Schwab U.S. TIPS ETF
|
|
|
15,785
|
|
|
|
912,847
|
|
Vanguard FTSE All World ex-US Small-Capital ETF
|
|
|
7,840
|
|
|
|
838,174
|
|
Vanguard Global ex-U.S. Real Estate ETF
|
|
|
15,190
|
|
|
|
873,577
|
|
Vanguard Real Estate ETF
|
|
|
19,133
|
|
|
|
1,797,163
|
|
Vanguard Total Stock Market ETF
|
|
|
5,215
|
|
|
|
852,757
|
|
|
|
|
|
|
|
|
13,148,524
|
|
Fixed Income ETF — 19.8%
|
|
|
|
|
|
|
|
|
SPDR FTSE International Government Inflation-Protected Bond ETF
|
|
|
16,520
|
|
|
|
914,217
|
|
Vanguard Intermediate-Term Treasury ETF
|
|
|
54,810
|
|
|
|
3,692,001
|
|
Vanguard Long-Term Bond ETF
|
|
|
9,961
|
|
|
|
1,052,678
|
|
Vanguard Total Bond Market ETF
|
|
|
32,515
|
|
|
|
2,780,682
|
|
|
|
|
|
|
|
|
8,439,578
|
|
Multi-Asset ETF — 12.6%
|
|
|
|
|
|
|
|
|
Alpha Architect Value Momentum Trend ETF
|
|
|
29,890
|
|
|
|
729,809
|
|
Invesco Optimum Yield Diversified Commodity Strategy No. K-1 ETF
|
|
|
95,970
|
|
|
|
1,452,026
|
|
JPMorgan Managed Futures ETF*
|
|
|
70,630
|
|
|
|
1,652,961
|
|
WisdomTree Managed Futures Strategy ETF
|
|
|
42,385
|
|
|
|
1,511,661
|
|
|
|
|
|
|
|
|
5,346,457
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Trinity ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
Total Exchange Traded Funds
|
|
|
|
|
|
|
|
|
(Cost $41,731,420)
|
|
|
|
|
|
$
|
41,652,475
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 0.2%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
86,400
|
|
|
|
86,400
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $86,400)
|
|
|
|
|
|
|
86,400
|
|
Total Investments - 98.0%
|
|
|
|
|
|
|
|
|
(Cost $41,817,820)
|
|
|
|
|
|
$
|
41,738,875
|
|
Other Assets and Liabilities - 2.0%
|
|
|
|
|
|
|
870,100
|
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
42,608,975
|
|
Percentages based on Net Assets.
*
|
Non-income producing security.
|
‡
|
Affiliated investment is a registered investment company which is managed by Cambria Investment Management, L.P. (the “Investment Adviser”) or an affiliate of the Investment Adviser or which is distributed by an affiliate of the Fund’s distributor (see Note 5).
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $82,582.
|
(B)
|
This security was purchased with cash collateral held from securities on loan (see Note 9). The total market value of such securities as of January 31, 2020 was $86,400.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
Transactions with affiliated companies during the period ended
January 31, 2020 are as follows:
|
|
|
|
|
|
|
|
|
Change in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value at
|
|
|
Purchases
|
|
|
Proceeds
|
|
|
Appreciation
|
|
|
Realized
|
|
|
Value at
|
|
|
Shares at
|
|
|
Dividend
|
|
4/30/2019
|
|
|
at
Cost
|
|
|
from
Sales
|
|
|
(Depreciation)
|
|
|
Gain
(Loss)
|
|
|
1/31/2020
|
|
|
of
1/31/20
|
|
|
Income
|
|
Cambria Emerging Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,258,094
|
|
|
$
|
1,352,176
|
|
|
$
|
(49,541
|
)
|
|
$
|
(89,707
|
)
|
|
$
|
5,938
|
|
|
$
|
2,476,960
|
|
|
|
80,984
|
|
|
$
|
77,003
|
|
Cambria Foreign Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,163,465
|
|
|
|
1,390,485
|
|
|
|
(45,620
|
)
|
|
|
(28,148
|
)
|
|
|
3,915
|
|
|
|
2,484,097
|
|
|
|
106,317
|
|
|
|
49,385
|
|
Cambria Global Momentum ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,821,327
|
|
|
|
2,369,817
|
|
|
|
(12,310,625
|
)
|
|
|
182,005
|
|
|
|
(62,524
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
129,673
|
|
Cambria Global Value ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,222,710
|
|
|
|
1,409,975
|
|
|
|
(48,802
|
)
|
|
|
(54,778
|
)
|
|
|
4,346
|
|
|
|
2,533,451
|
|
|
|
110,390
|
|
|
|
43,244
|
|
Cambria Shareholder Yield ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,141,920
|
|
|
|
1,379,897
|
|
|
|
(45,469
|
)
|
|
|
(30,886
|
)
|
|
|
6,234
|
|
|
|
2,451,696
|
|
|
|
64,774
|
|
|
|
29,353
|
|
Cambria Sovereign Bond ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,872,559
|
|
|
|
1,569,929
|
|
|
|
(1,337,193
|
)
|
|
|
(2,856
|
)
|
|
|
26,851
|
|
|
|
2,129,290
|
|
|
|
84,345
|
|
|
|
81,642
|
|
Cambria Value & Momentum ETF
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,969,879
|
|
|
|
846,268
|
|
|
|
(76,852
|
)
|
|
|
(100,370
|
)
|
|
|
3,497
|
|
|
|
2,642,422
|
|
|
|
132,685
|
|
|
|
20,143
|
|
$
|
18,449,954
|
|
|
$
|
10,318,547
|
|
|
$
|
(13,914,102
|
)
|
|
$
|
(124,740
|
)
|
|
$
|
(11,743
|
)
|
|
$
|
14,717,916
|
|
|
|
579,495
|
|
|
$
|
430,443
|
|
ETF — Exchange Traded Fund
|
FTSE — Financial Times Stock Exchange
|
SPDR — Standard & Poor’s Depositary Receipt
|
TIPS — Treasury Inflation Protected Securities
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers in or out of level 3.
For information regarding the Fund’s policy
regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual
and annual financial statements.
CIM-QH-012-0300
Cambria Investment Management
Schedule of Investments ● Cambria
Cannabis ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
COMMON STOCK — 96.4%
|
|
|
|
|
|
|
|
|
Consumer Discretionary — 3.8%
|
|
|
|
|
|
|
|
|
Greenlane Holdings, Cl A*
|
|
|
173,775
|
|
|
$
|
424,011
|
|
|
|
|
|
|
|
|
|
|
Consumer Staples — 29.2%
|
|
|
|
|
|
|
|
|
Altria Group
|
|
|
7,500
|
|
|
|
356,475
|
|
British American Tobacco
|
|
|
14,760
|
|
|
|
654,395
|
|
Constellation Brands, Cl A
|
|
|
3,705
|
|
|
|
697,651
|
|
CV Sciences*
|
|
|
159,390
|
|
|
|
145,778
|
|
Elixinol Global* (A)
|
|
|
137,325
|
|
|
|
70,782
|
|
Neptune Wellness Solutions* (A)
|
|
|
63,630
|
|
|
|
150,803
|
|
New Age Beverages*
|
|
|
83,325
|
|
|
|
144,986
|
|
Philip Morris International
|
|
|
4,320
|
|
|
|
357,264
|
|
Turning Point Brands
|
|
|
8,010
|
|
|
|
182,949
|
|
Universal
|
|
|
3,120
|
|
|
|
165,828
|
|
Village Farms International*
|
|
|
52,620
|
|
|
|
287,305
|
|
|
|
|
|
|
|
|
3,214,216
|
|
Financials — 2.9%
|
|
|
|
|
|
|
|
|
Canopy Rivers* (A)
|
|
|
330,585
|
|
|
|
319,744
|
|
|
|
|
|
|
|
|
|
|
Health Care — 53.5%
|
|
|
|
|
|
|
|
|
Aphria* (A)
|
|
|
151,950
|
|
|
|
708,087
|
|
Aurora Cannabis* (A)
|
|
|
197,070
|
|
|
|
372,462
|
|
CannTrust Holdings* (A)
|
|
|
215,402
|
|
|
|
232,753
|
|
Canopy Growth* (A)
|
|
|
26,400
|
|
|
|
595,320
|
|
Charlottes Web Holdings* (A)
|
|
|
47,055
|
|
|
|
340,983
|
|
Corbus Pharmaceuticals Holdings*
|
|
|
31,350
|
|
|
|
202,835
|
|
Cronos Group* (A)
|
|
|
48,795
|
|
|
|
350,348
|
|
Emerald Health Therapeutics* (A)
|
|
|
252,600
|
|
|
|
57,262
|
|
Flowr*
|
|
|
180,210
|
|
|
|
232,854
|
|
Green Organic Dutchman Holdings* (A)
|
|
|
244,650
|
|
|
|
125,708
|
|
GW Pharmaceuticals ADR*
|
|
|
7,965
|
|
|
|
920,197
|
|
HEXO* (A)
|
|
|
83,145
|
|
|
|
103,931
|
|
MediPharm Labs*
|
|
|
231,030
|
|
|
|
490,550
|
|
Organigram Holdings* (A)
|
|
|
123,450
|
|
|
|
319,026
|
|
Supreme Cannabis* (A)
|
|
|
535,395
|
|
|
|
196,212
|
|
Tilray, Cl 2* (A)
|
|
|
17,460
|
|
|
|
306,248
|
|
Vivo Cannabis*
|
|
|
1,036,965
|
|
|
|
258,575
|
|
Weedmd*
|
|
|
152,025
|
|
|
|
87,305
|
|
|
|
|
|
|
|
|
5,900,656
|
|
Materials — 4.0%
|
|
|
|
|
|
|
|
|
Scotts Miracle-Gro
|
|
|
3,615
|
|
|
|
443,705
|
|
Cambria Investment Management
Schedule of Investments ● Cambria
Cannabis ETF ● January 31, 2020 (unaudited)
Description
|
|
Shares
|
|
Value
|
|
|
|
|
|
|
|
|
|
Real Estate — 3.0%
|
|
|
|
|
|
|
|
|
Innovative Industrial Properties, Cl A‡
|
|
|
3,645
|
|
|
$
|
326,227
|
|
|
|
|
|
|
|
|
|
|
Total Common Stock
|
|
|
|
|
|
|
|
|
(Cost $14,873,306)
|
|
|
|
|
|
|
10,628,559
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENT — 25.5%
|
|
|
|
|
|
|
|
|
Invesco Treasury Portfolio
|
|
|
|
|
|
|
|
|
Institutional Class, 1.470% (B)(C)
|
|
|
2,810,340
|
|
|
|
2,810,340
|
|
Total Short-Term Investments
|
|
|
|
|
|
|
|
|
(Cost $2,810,340)
|
|
|
|
|
|
|
2,810,340
|
|
Total Investments - 121.9%
|
|
|
|
|
|
|
|
|
(Cost $17,683,646)
|
|
|
|
|
|
$
|
13,438,899
|
|
Other Assets and Liabilities - (21.9)%
|
|
|
|
|
|
|
(2,414,897
|
)
|
Net Assets - 100.0%
|
|
|
|
|
|
$
|
11,024,002
|
|
Percentages based on Net Assets.
*
|
Non-income producing security.
|
‡
|
Real Estate Investment Trust
|
(A)
|
This security or a partial position of this security is on loan at January 31, 2020. The total value of securities on loan at January 31, 2020 was $2,599,302.
|
(B)
|
This security was purchased with cash collateral held from securities on loan (see Note 9). The total market value of such securities as of January 31, 2020 was $2,810,340.
|
(C)
|
Rate shown is the 7-day effective yield as of January 31, 2020.
|
ADR — American Depositary Receipt
|
Cl — Class
|
As of January 31, 2020, all of the Fund’s investments in securities were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.
|
As of January 31, 2020, there were no transfers in or out of level 3.
For information regarding the Fund’s policy regarding valuation
of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial
statements.
CIM-QH-013-0200
Item 2. Controls and Procedures
(a) The Registrant’s principal executive and principal
financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) are effective,
based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b)
under the Securities Exchange Act of 1934 as amended as of a date within 90 days of the filing date of this report.
(b) There were no changes in the Registrant’s internal
control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act that occurred during the last fiscal quarter of
the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s
internal control over financial reporting.
Item 3. Exhibits.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act
are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
|
Cambria ETF Trust
|
|
|
|
|
By:
|
/s/ Mebane Faber
|
|
|
Mebane Faber, President
|
|
Date: March 27, 2020
Pursuant to the requirements of the Securities Exchange Act
of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant
and in the capacities and on the dates indicated.
By:
|
/s/ Mebane
Faber
|
|
|
Mebane Faber, President
|
|
|
|
|
Date: March 27, 2020
|
|
|
|
|
|
By:
|
/s/ Eric Kleinschmidt
|
|
|
Eric Kleinschmidt,
Principal Financial Officer
|
|
|
|
|
Date: March 27, 2020
|
|
|
Cambria Value and Moment... (AMEX:VAMO)
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