Vident Financial
As of 12/05/2019

All Holdings

Name Country Code Weight Shares
1. PROLOGIS INC US 3.75% 50568
2. AVALONBAY CMNTYS INC US 3.56% 20289
3. TERRENO RLTY CORP US 3.30% 71067
4. MID AMER APT CMNTYS INC US 3.12% 28467
5. EQUITY RESIDENTIAL US 3.11% 45221
6. EQUINIX INC US 3.04% 6688
7. PS BUSINESS PKS INC CALIF US 2.42% 16989
8. AMERICAN HOMES 4 RENT US 2.22% 103842
9. APARTMENT INVT & MGMT CO US 2.17% 50675
10. DIGITAL RLTY TR INC US 2.16% 22643
11. PIEDMONT OFFICE REALTY TR INC COM CL A US 2.07% 114508
12. EASTERLY GOVT PPTYS INC US 1.97% 104683
13. SIMON PPTY GROUP INC NEW US 1.92% 15900
14. UDR INC US 1.84% 47256
15. VEREIT INC US 1.76% 225368
16. BOSTON PROPERTIES INC US 1.66% 14646
17. MARRIOTT INTL INC NEW US 1.65% 14432
18. WELLTOWER INC US 1.59% 23220
19. STAG INDL INC US 1.56% 62369
20. HIGHWOODS PPTYS INC US 1.55% 40346
21. CAMDEN PPTY TR US 1.52% 16924
22. HUDSON PAC PPTYS INC US 1.50% 51125
23. AMERICAN ASSETS TR INC US 1.50% 38779
24. DUKE REALTY CORP US 1.47% 51393
25. ESSEX PPTY TR INC US 1.45% 5734
26. FEDERAL REALTY INVT TR US 1.42% 13331
27. ALEXANDRIA REAL ESTATE EQ INC COM US 1.38% 10570
28. LIBERTY PPTY TR US 1.37% 27364
29. KILROY RLTY CORP US 1.26% 18482
30. W P CAREY INC US 1.24% 18684
31. SUN CMNTYS INC US 1.18% 9020
32. HILTON WORLDWIDE HLDGS INC US 1.18% 13839
33. REALTY INCOME CORP US 1.17% 19079
34. EASTGROUP PPTY INC US 1.12% 10253
35. EQUITY LIFESTYLE PPTYS INC US 1.10% 18436
36. VORNADO RLTY TR US 1.09% 20771
37. FIRST INDUSTRIAL REALTY TRUST COM US 1.07% 31216
38. RETAIL OPPORTUNITY INVTS CORP COM US 1.06% 72210
39. VENTAS INC US 1.05% 22276
40. EQUITY COMWLTH US 1.02% 38258
41. REGENCY CTRS CORP US 0.99% 19042
42. MONMOUTH REAL ESTATE INVT CORP CL A US 0.98% 79063
43. CORPORATE OFFICE PPTYS TR US 0.92% 39028
44. DOUGLAS EMMETT INC US 0.92% 25583
45. CYRUSONE INC US 0.91% 17526
46. HEALTHPEAK PROPERTIES INC. US 0.90% 32044
47. ACADIA RLTY TR US 0.87% 40758
48. COUSINS PPTYS INC US 0.80% 24501
49. PUBLIC STORAGE US 0.76% 4382
50. NATIONAL RETAIL PPTYS INC US 0.75% 16986
51. QTS RLTY TR INC US 0.73% 16900
52. SPIRIT RLTY CAP INC NEW US 0.70% 16377
53. CORESITE RLTY CORP US 0.67% 7279
54. OMEGA HEALTHCARE INVS INC US 0.65% 19021
55. GETTY RLTY CORP NEW US 0.62% 23059
56. RETAIL PPTYS AMER INC US 0.61% 53619
57. HOST HOTELS & RESORTS INC US 0.59% 41121
58. COLUMBIA PPTY TR INC US 0.57% 33768
59. KIMCO RLTY CORP US 0.57% 33226
60. EMPIRE ST RLTY TR INC US 0.56% 49880
61. ESSENTIAL PPTYS RLTY TR INC US 0.55% 25982
62. WEINGARTEN RLTY INVS US 0.53% 20858
63. ALEXANDERS INC US 0.51% 1928
64. HEALTHCARE TR AMER INC US 0.50% 20209
65. PARK HOTELS RESORTS INC US 0.48% 25159
66. AMERICAN CAMPUS CMNTYS INC US 0.48% 12369
67. HYATT HOTELS CORP US 0.44% 6794
68. EXTRA SPACE STORAGE INC US 0.43% 4918
69. URSTADT BIDDLE PPTYS INC US 0.42% 21436
70. PHYSICIANS RLTY TR US 0.39% 25024
71. RYMAN HOSPITALITY PPTYS INC US 0.39% 5402
72. HEALTHCARE RLTY TR US 0.37% 13846
73. WYNDHAM HOTELS & RESORTS INC COM US 0.37% 7941
74. CHOICE HOTELS INTL INC US 0.37% 4655
75. NATIONAL HEALTH INVS INC US 0.35% 5294
76. SITE CENTERS CORP US 0.35% 29927
77. APPLE HOSPITALITY REIT INC US 0.32% 24921
78. MEDICAL PPTYS TRUST INC US 0.31% 18194
79. SUNSTONE HOTEL INVS INC NEW US 0.29% 25781
80. LTC PPTYS INC US 0.28% 7438
81. AGREE REALTY CORP US 0.28% 4787
82. DIAMONDROCK HOSPITALITY CO US 0.28% 32921
83. XENIA HOTELS & RESORTS INC US 0.27% 16066
84. COMMUNITY HEALTHCARE TR INC US 0.27% 6924
85. LIFE STORAGE INC US 0.26% 2908
86. REXFORD INDL RLTY INC US 0.26% 6658
87. CARETRUST REIT INC US 0.25% 14627
88. CUBESMART US 0.24% 9554
89. NATIONAL HEALTHCARE CORP US 0.24% 3505
90. INVITATION HOMES INC US 0.19% 7730
91. JBG SMITH PPTYS US 0.14% 4349
92. ALEXANDER & BALDWIN INC NEW US 0.12% 7215
93. EXTENDED STAY AMER INC US 0.12% 10381
94. RPT REALTY US 0.12% 9803
95. NATIONAL STORAGE AFFILIATES TR COM SHS BEN IN US 0.11% 4040
96. URBAN EDGE PPTYS US 0.11% 6801
97. BRIXMOR PPTY GROUP INC US 0.11% 6296
98. LEXINGTON REALTY TRUST US 0.11% 11965
99. AMERICOLD RLTY TR US 0.11% 3510
100. SL GREEN RLTY CORP US 0.11% 1526
101. BRANDYWINE RLTY TR US 0.11% 8485
102. WASHINGTON REAL ESTATE INVT TR SH BEN INT US 0.10% 4196
103. SAUL CTRS INC US 0.10% 2472
104. ARMADA HOFFLER PPTYS INC US 0.10% 6916
105. SABRA HEALTH CARE REIT INC US 0.10% 5585
106. SUMMIT HOTEL PPTYS INC US 0.10% 10085
107. SERITAGE GROWTH PPTYS US 0.10% 2896
108. PARAMOUNT GROUP INC US 0.09% 8364
109. TANGER FACTORY OUTLET CTRS INC COM US 0.09% 6965
110. MACK CALI RLTY CORP US 0.09% 4897
111. MACERICH CO US 0.08% 3484
112. CHATHAM LODGING TR US 0.07% 4824
113. RLJ LODGING TR US 0.07% 5141
114. PEBBLEBROOK HOTEL TR US 0.07% 3335
115. INNOVATIVE INDL PPTYS INC US 0.07% 1107

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus (VIDI, VUSE, VBND) contains this and other important information about the investment company, and a free hardcopy of the prospectus may be obtained by calling 1-800-617-0004. Read carefully before investing. Holdings information for each fund as follows: VIDI, VUSE, VBND, PPTY.

Investments involve risk. Principal loss is possible. The Funds have the same risks as the underlying securities traded on the exchange throughout the day at market price. Redemptions are limited and often commissions are charged on each trade. VIDI is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. A fund that concentrates its investments in the securities of a particular industry or geographic area may be more volatile than a fund that invests in a broader range of industries. VIDI and VBND may invest in illiquid or thinly traded securities which involve additional risks such as limited liquidity and greater volatility. VBND may make investments in debt securities. The Fund's investments in high yield securities expose it to a substantial degree of credit risk. These investments are considered speculative under traditional investment standards. Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. An increase in interest rates may cause the value of fixed-income securities held by the Fund to decline. During periods of rising interest rates, certain debt obligations will be paid off substantially more slowly than originally anticipated and the value of those securities may fall sharply, resulting in a decline in the Fund's income and potentially in the value of the Fund's investments. VBND may also invest in asset backed and mortgage backed securities which include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The performance of the funds may diverge from that of the Index. Because the Funds employ a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, the Funds may experience tracking error to a greater extent than a fund that seeks to replicate an index. The Funds are not actively managed and may be affected by a general decline in market segments related to the index. The Funds invest in securities included in, or representative of securities included in, the index, regardless of their investment merits. Small and medium-capitalization companies tend to have more limited liquidity and greater price volatility than large-capitalization companies. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Market vs. NAV Returns. The total return of an ETF based on its market price and its NAV at the beginning and end of the holding period. The market return, not the NAV return, is the return actually earned by ETF investors, except for those who hold creation units. The NAV is the value of each share of a fund as determined by the value of its underlying holdings, including any cash in the portfolio. NAV is calculated by dividing a fund's total net assets by its number of shares outstanding.

The Vident Funds are distributed by Quasar Distributors, LLC. The fund's investment advisor is Vident Advisory, LLC. VIDI, VBND, and VUSE's sub-advisor is Vident Investment Advisory (VIA). Vident Financial owns the indexes that underline the funds. Quasar is not affiliated with Vident Financial, Vident Advisory, LLC, or Vident Investment Advisory. Quasar is not the distributor of FLAG ETF.

Diversification does not guarantee a profit or protect from loss in a declining market.

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