Shareholder Yield (SYLD) - Full Holdings

PERCENTAGE OF
NET ASSETS
NAMEIDENTIFIERSHARES HELDMARKET VALUE
1.218%CASH1,477,778$1,477,778.32
0.000%CANADIAN DOLLAR$.06
1.137%AFLAC INCAFL16,435$1,379,553.90
0.661%AES CORPAES72,144$801,519.84
1.524%ALCOA UPSTREAM CORPAA40,745$1,849,008.10
1.467%ALLSTATE CORPALL19,655$1,779,367.15
1.052%AMERICAN EAGLE OUTFITTERSAEO92,180$1,276,693.00
0.914%AMERICAN EXPRESS COAXP12,547$1,109,154.80
0.849%AMERICAN FINANCIAL GROUPAFG10,041$1,029,503.73
0.939%AMERICAN INTERNATIONAL GRAIG18,769$1,139,465.99
1.220%AMERIPRISE FINANCIAL INCAMP10,357$1,480,222.44
1.519%APPLE INCAAPL12,135$1,843,185.15
1.000%APPLIED MATERIALS INCAMAT25,400$1,213,358.00
0.398%ARCHER-DANIELS-MIDLAND COADM11,138$483,166.44
1.212%ASSURANT INCAIZ15,569$1,470,492.05
1.109%BANK OF AMERICA CORPBAC53,775$1,345,450.50
1.006%BEST BUY CO INCBBY22,633$1,219,918.70
0.071%BRIGHTHOUSE FINANCIAL INCBHF1,468$85,657.80
0.883%CBS CORP-CLASS B NON VOTICBS18,078$1,070,759.94
1.109%CNO FINANCIAL GROUP INCCNO58,272$1,344,917.76
0.636%CVR ENERGY INCCVI31,484$771,987.68
0.969%CVS HEALTH CORPCVS14,766$1,175,816.58
0.709%CALATLANTIC GROUP INCCAA24,357$859,558.53
0.673%CARNIVAL CORPCCL12,696$816,733.68
0.281%CENTURYLINK INCCTL18,382$340,802.28
1.408%CHILDREN'S PLACE INC/THEPLCE15,072$1,707,657.60
0.871%COOPER TIRE RUBBERCTB29,814$1,056,906.30
1.235%CORNING INCGLW49,869$1,498,563.45
1.467%CUMMINS INCCMI10,596$1,779,916.08
0.952%DELTA AIR LINES INCDAL23,832$1,155,137.04
0.306%DILLARDS INC-CL ADDS6,445$370,780.85
1.277%DR PEPPER SNAPPLE GROUP IDPS17,457$1,549,134.18
0.742%EXPRESS SCRIPTS HOLDING CESRX14,459$900,651.11
0.545%FAIRFAX FINANCIAL HLDGS LFRFHF1,291$661,030.73
1.109%FIFTH THIRD BANCORPFITB49,266$1,345,454.46
0.346%FINISH LINE/THE - CL AFINL43,149$419,839.77
0.274%FRANCESCAS HOLDINGS CORPFRAN47,378$332,119.78
0.678%FRANKLIN RESOURCES INCBEN19,182$822,715.98
0.844%GATX CORPGATX16,626$1,023,330.30
0.897%GAP INC/THEGPS38,364$1,088,003.04
0.812%GENERAL DYNAMICS CORPGD4,796$985,146.36
2.081%GREEN DOT CORP-CLASS AGDOT52,132$2,524,231.44
0.946%GREENBRIER COMPANIES INCGBX25,186$1,147,222.30
0.774%GROUP 1 AUTOMOTIVE INCGPI13,536$938,586.24
0.784%GUESS? INCGES59,207$950,864.42
0.689%HP INCHPQ41,912$835,725.28
1.014%HARTFORD FINANCIAL SVCS GHIG22,593$1,230,188.85
0.660%HOLLYFRONTIER CORPHFC23,394$801,010.56
1.652%HOME DEPOT INCHD12,530$2,004,424.10
1.310%HUNTSMAN CORPHUN58,164$1,589,040.48
0.841%JPMORGAN CHASE COJPM10,757$1,020,086.31
0.803%KOHLS CORPKSS21,145$974,150.15
0.987%LEAR CORPLEA7,026$1,196,808.84
0.808%LEUCADIA NATIONAL CORPLUK39,933$979,955.82
1.018%LINCOLN NATIONAL CORPLNC16,943$1,234,805.84
1.379%LOWE'S COS INCLOW21,390$1,673,339.70
0.674%M T BANK CORPMTB5,313$817,245.66
0.860%MRC GLOBAL INCMRC60,718$1,043,742.42
0.242%MACY'S INCM13,621$293,260.13
1.259%MANPOWERGROUP INCMAN13,181$1,527,150.66
0.688%MARRIOTT VACATIONS WORLDVAC6,969$834,328.68
0.639%MCKESSON CORPMCK5,037$775,748.37
0.673%METLIFE INCMET16,146$816,018.84
0.719%MURPHY OIL CORPMUR33,321$872,676.99
0.479%NETAPP INCNTAP13,659$581,190.45
2.042%NORTHROP GRUMMAN CORPNOC8,797$2,476,795.35
1.317%NU SKIN ENTERPRISES INC -NUS25,990$1,597,345.40
1.213%O'REILLY AUTOMOTIVE INCORLY7,024$1,472,160.16
0.549%OFFICE DEPOT INCODP152,421$666,079.77
0.903%PNC FINANCIAL SERVICES GRPNC8,209$1,095,326.87
1.695%PACKAGING CORP OF AMERICAPKG17,695$2,056,335.95
1.609%PARKER HANNIFIN CORPPH11,018$1,951,397.98
0.815%PRINCIPAL FINANCIAL GROUPPFG15,658$988,332.96
0.623%PROSPECT CAPITAL CORPPSEC112,955$755,668.95
0.807%PRUDENTIAL FINANCIAL INCPRU9,320$978,600.00
0.758%REALOGY HOLDINGS CORPRLGY26,772$919,082.76
0.713%ROBERT HALF INTL INCRHI17,802$865,177.20
1.350%SANMINA CORPSANM43,893$1,637,208.90
1.238%SIX FLAGS ENTERTAINMENT CSIX25,470$1,501,711.20
1.488%SOUTHWEST AIRLINES COLUV32,870$1,805,549.10
0.968%SPIRIT AEROSYSTEMS HOLD-CSPR14,973$1,174,631.85
0.761%STATE STREET CORPSTT9,660$923,109.60
0.528%STURM RUGER CO INCRGR12,558$640,458.00
1.352%SUNTRUST BANKS INCSTI28,673$1,640,669.06
0.816%SYNOVUS FINANCIAL CORPSNV22,531$990,237.45
0.599%TARGET CORPTGT12,321$726,815.79
1.692%TEXAS INSTRUMENTS INCTXN23,253$2,052,542.31
1.292%TRAVELERS COS INC/THETRV12,840$1,566,993.60
0.738%US BANCORPUSB16,688$895,644.96
1.273%UNITED CONTINENTAL HOLDINUAL26,271$1,544,734.80
1.274%UNUM GROUPUNM30,843$1,545,851.16
0.930%VALERO ENERGY CORPVLO15,191$1,128,539.39
0.767%VISTEON CORPVC7,421$931,038.66
0.853%WABASH NATIONAL CORPWNC48,626$1,035,247.54
1.038%WAL-MART STORES INCWMT15,831$1,259,039.43
1.009%WHIRLPOOL CORPWHR6,987$1,224,332.01
0.873%WORTHINGTON INDUSTRIESWOR20,670$1,058,510.70
0.816%XEROX CORPXRX29,877$989,825.01
1.416%ASSURED GUARANTY LTDAGO41,339$1,717,635.45
1.151%AXIS CAPITAL HOLDINGS LTDAXS24,527$1,396,076.84
1.484%EATON CORP PLCETN23,057$1,800,751.70
1.360%EVEREST RE GROUP LTDRE7,292$1,649,887.92
0.881%TRINSEO SATSE15,876$1,069,248.60
0.713%LYONDELLBASELL INDU-CL ALYB8,935$865,533.45

Data as of 09/25/2017

Holdings are subject to change.

The Cambria ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Cambria Investment Management, LP, the Investment Adviser for the Fund. Check the background of SIDCO on FINRA's BrokerCheck.

To determine if this Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expense before investing. This and other information can be found in the Fund's full or summary prospectus which may be obtained by calling 855-383-4636 (ETF INFO) or visiting our website at www.cambriafunds.com. Read the prospectus carefully before investing or sending money.

The Cambria Sovereign Bond ETF was formerly known as The Cambria Sovereign High Yield Bond ETF.

SYLD, GMOM and VAMO are actively managed using proprietary investment strategies and processes. There can be no guarantee that these strategies and processes will produce the intended results and no guarantee that the Fund will achieve its investment objective. This could result in the Fund's underperformance compared to other funds with similar investment objectives.

ETFs are subject to commission costs each time a "buy" or "sell" is executed. Depending on the amount of trading activity, the low costs of ETFs may be outweighed by commissions and related trading costs. Shares are bought and sold at market price (closing price) not net asset value (NAV) are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

There is no guarantee that the Fund will achieve its investment goal. Investing involves risk, including the possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from social, economic, or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise.

Investments in sovereign and quasi-sovereign debt obligations involve special risks not present in corporate debt obligations. The issuer of the sovereign debt or the authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. Investments in commodities are subject to higher volatility than more traditional investments. The fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund's gains or losses. The use of leverage by the fund managers may accelerate the velocity of potential losses. The Fund employs a "momentum" style of investing that emphasizes investing in securities that have had higher recent price performance compared to other securities. This style of investing is subject to the risk that these securities may be more volatile than a broad cross-section of securities or that the returns on securities that have previously exhibited price momentum are less than returns on other styles of investing or the overall stock market. Investments in smaller companies typically exhibit higher volatility. Diversification may not protect against market loss. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Buying and selling shares will result in brokerage commissions. Brokerage commissions will reduce returns.

There are special risks associated with margin investing. As with stocks, you may be called upon to deposit additional cash or securities if your account equity declines.