WBI Bull|Bear Quality 3000 ETF

TICKER

WBIL

INCEPTION DATE

8/25/2014

NAV

$35.03
As of 10/13/2025

FUND NET ASSETS

$34.23 (MM)
As of 10/13/2025

WBI’s Unique Active Management

Utilized for nearly 30 years, WBI’s active investment process seeks to manage risk to capital, unleash the benefits of compounding, and grow capital efficiently through good and bad market cycles.

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Stock Selection Process

WBIL is an active ETF focused on global small-, mid- and large-cap dividend paying stocks. The fund seeks to manage risk to capital while providing attractive returns and long-term growth of capital. The rigorous stock selection process targets stocks with the highest quality fundamentals and potential for growth.

Active Risk Management

WBIL is designed to participate in market advances and protect capital during market declines. With WBI’s time-tested active risk management, is a great tool to pair with passive ETFs to reduce down-market correlation, volatility, and loss of capital.

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Fund Performance

Daily Holdings:

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
10/14/2025	WBIL	Cash&Other	Cash&Other	Cash & Other	4,439,214	1.000000	4439214.48	12.97%	34228926.53	977182	19.540000000000	Y
10/14/2025	WBIL	RGTI	76655K103	Rigetti Computing Inc	15,053	54.910000	826560.23	2.41%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	AAPL	037833100	Apple Inc	2,968	247.660000	735054.88	2.15%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	QBTS	26740W109	D-Wave Quantum Inc	17,634	40.620000	716293.08	2.09%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	NOW	81762P102	ServiceNow Inc	767	923.700000	708477.90	2.07%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ANET	040413205	Arista Networks Inc	4,776	147.450000	704221.20	2.06%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	NRG	629377508	NRG Energy Inc	4,121	168.770000	695501.17	2.03%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	APH	032095101	Amphenol Corp	5,519	123.910000	683859.29	2.00%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	EME	29084Q100	EMCOR Group Inc	996	677.020000	674311.92	1.97%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MPWR	609839105	Monolithic Power Systems Inc	678	981.670000	665572.26	1.94%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	OKLO	02156V109	Oklo Inc	3,830	171.010000	654968.30	1.91%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CSCO	17275R102	Cisco Systems Inc	9,466	67.460000	638576.36	1.87%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	IBKR	45841N107	Interactive Brokers Group Inc	9,073	70.520000	639827.96	1.87%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	AMP	03076C106	Ameriprise Financial Inc	1,317	481.810000	634543.77	1.85%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	INTU	461202103	Intuit Inc	967	655.680000	634042.56	1.85%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	BMY	110122108	Bristol-Myers Squibb Co	14,291	43.540000	622230.14	1.82%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	V	92826C839	Visa Inc	1,816	343.300000	623432.80	1.82%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	TKO	87256C101	TKO Group Holdings Inc	3,237	188.600000	610498.20	1.78%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CBRE	12504L109	CBRE Group Inc	3,843	152.930000	587709.99	1.72%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	BKR	05722G100	Baker Hughes Co	12,747	45.490000	579861.03	1.69%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	IONQ	46222L108	IonQ Inc	6,945	82.090000	570115.05	1.67%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	RMD	761152107	ResMed Inc	2,093	273.010000	571409.93	1.67%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SOUN	836100107	SoundHound AI Inc	28,465	19.140000	544820.10	1.59%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SNDK	80004C200	Sandisk Corp/DE	3,932	134.610000	529286.52	1.55%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CIEN	171779309	Ciena Corp	3,096	164.780000	510158.88	1.49%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CRDO	G25457105	Credo Technology Group Holding Ltd	3,056	149.900000	458094.40	1.34%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MDB	60937P106	MongoDB Inc	1,425	319.210000	454874.25	1.33%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ALAB	04626A103	Astera Labs Inc	2,245	199.530000	447944.85	1.31%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	LITE	55024U109	Lumentum Holdings Inc	2,745	160.560000	440737.20	1.29%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	BIDU	056752108	Baidu Inc	3,309	125.720000	416007.48	1.22%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	RMBS	750917106	Rambus Inc	4,292	97.010000	416366.92	1.22%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	WDC	958102105	Western Digital Corp	3,483	118.860000	413989.38	1.21%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	VRT	92537N108	Vertiv Holdings Co	2,118	179.000000	379122.00	1.11%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	RDDT	75734B100	Reddit Inc	1,844	203.680000	375585.92	1.10%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	EXPE	30212P303	Expedia Group Inc	1,600	215.640000	345024.00	1.01%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MLM	573284106	Martin Marietta Materials Inc	540	638.610000	344849.40	1.01%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	EBAY	278642103	eBay Inc	3,737	89.360000	333938.32	0.98%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	LLY	532457108	Eli Lilly & Co	410	819.400000	335954.00	0.98%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	WTW	G96629103	Willis Towers Watson PLC	1,001	336.620000	336956.62	0.98%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	EMR	291011104	Emerson Electric Co	2,588	128.180000	331729.84	0.97%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SOFI	83406F102	SoFi Technologies Inc	12,280	27.140000	333279.20	0.97%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ARES	03990B101	Ares Management Corp	2,297	143.630000	329918.11	0.96%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ROL	775711104	Rollins Inc	5,831	56.090000	327060.79	0.96%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CMI	231021106	Cummins Inc	788	409.000000	322292.00	0.94%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	UI	90353W103	Ubiquiti Inc	464	686.850000	318698.40	0.93%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MNST	61174X109	Monster Beverage Corp	4,662	67.150000	313053.30	0.91%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	NVDA	67066G104	NVIDIA Corp	1,643	188.320000	309409.76	0.90%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	VMC	929160109	Vulcan Materials Co	1,019	302.750000	308502.25	0.90%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CTAS	172908105	Cintas Corp	1,580	187.940000	296945.20	0.87%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	AME	031100100	AMETEK Inc	1,617	182.240000	294682.08	0.86%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MKL	570535104	Markel Group Inc	152	1929.110000	293224.72	0.86%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MSCI	55354G100	MSCI Inc	531	548.350000	291173.85	0.85%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	TT	G8994E103	Trane Technologies PLC	697	418.760000	291875.72	0.85%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	CME	12572Q105	CME Group Inc	1,061	271.280000	287828.08	0.84%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	GILD	375558103	Gilead Sciences Inc	2,444	118.210000	288905.24	0.84%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SYY	871829107	Sysco Corp	3,691	78.270000	288894.57	0.84%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	PH	701094104	Parker-Hannifin Corp	388	728.660000	282720.08	0.83%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	REGN	75886F107	Regeneron Pharmaceuticals Inc	509	557.730000	283884.57	0.83%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	AMGN	031162100	Amgen Inc	956	292.405000	279539.18	0.82%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ITW	452308109	Illinois Tool Works Inc	1,143	244.460000	279417.78	0.82%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	YUM	988498101	Yum! Brands Inc	2,006	140.470000	281782.82	0.82%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	HLT	43300A203	Hilton Worldwide Holdings Inc	1,050	263.360000	276528.00	0.81%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	ROK	773903109	Rockwell Automation Inc	819	339.200000	277804.80	0.81%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SCHW	808513105	Charles Schwab Corp/The	2,979	93.490000	278506.71	0.81%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	COST	22160K105	Costco Wholesale Corp	293	935.560000	274119.08	0.80%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	MA	57636Q104	Mastercard Inc	491	559.240000	274586.84	0.80%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	SYK	863667101	Stryker Corp	754	364.920000	275149.68	0.80%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	RCL	V7780T103	Royal Caribbean Cruises Ltd	884	306.220000	270698.48	0.79%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	BR	11133T103	Broadridge Financial Solutions Inc	1,130	232.670000	262917.10	0.77%	34228926.53	977182	19.540000000000		0.00
10/14/2025	WBIL	NDAQ	631103108	Nasdaq Inc	1,000	89.390000	89390.00	0.26%	34228926.53	977182	19.540000000000		0.00

Distributions

An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. There is no guarantee the Advisor’s investment strategy and quantitative models used to identify companies with high-quality fundamentals will be successful. Companies with an apparently attractive financial condition and prospects for ongoing financial stability may experience adverse business conditions specific to their industry or enterprise that cause their financial condition and prospects to deteriorate. To the extent that the Fund invests in dividend-paying equities, if stocks held by the Fund reduce or stop paying dividends, the Fund’s ability to generate income may be affected. Small and medium capitalization companies may involve greater volatility and risk than investing in larger and more established companies. Foreign and emerging market securities carry additional risks such as currency fluctuation, economic or financial instability, lack of timely or reliable financial information, or unfavorable political or legal developments. For a full list of investment risks associated with the fund including but not limited to Debt Risk, High Yield Securities Risk, Cash Position Risk, Portfolio Turnover Risk, Quantitative Model Risk, Master Limited Partnership Risk, and Real-Estate Investment Trust Risk please read the prospectus.