MDST holdings, by weight
#	Ticker	Name	Weight	Cumulative	Shares	Mkt value	Share chg	Sector	Industry
1	—	Enbridge Inc. Cumulative Redeemable PfdEnergy · Oil & Gas	8.96%	9.0%	378,729	$20.51M	-	Energy	Oil & Gas
2	ET	Energy Transfer LpEnergy · Oil & Gas	8.78%	17.7%	1,061,333	$20.09M	+140.4K	Energy	Oil & Gas
Share changes, sector and industry · Pro
3	WMB	Williams Companies Inc	8.48%	26.2%	269,447	$19.40M
4	EPD	Enterprise Produ	6.96%	33.2%	423,765	$15.92M
5	DTM	DT Midstream Inc	6.07%	39.3%	103,708	$13.90M
6	KMI	Kinder Morgan Inc	5.90%	45.1%	409,970	$13.52M
7	LNG	Cheniere Energy Inc	5.38%	50.5%	43,837	$12.33M
8	OKE	Oneok Inc.	4.99%	55.5%	129,249	$11.41M
9	—	South Bow Corp	4.98%	60.5%	343,349	$11.39M
10	—	Transcanada Pipelines Limited	4.85%	65.3%	175,128	$11.10M
11	AM	Antero Midstream Corp	4.81%	70.2%	483,776	$11.01M
12	PBA	Pembina Pipeline Corp	4.65%	74.8%	238,718	$10.65M
13	—	Mplx Lp	4.57%	79.4%	187,321	$10.47M
14	—	Plains Gp Hold-a	4.49%	83.9%	427,065	$10.28M
15	TRGP	Targa Resources Corp.	4.35%	88.2%	40,786	$9.97M
16	—	Hess Midstream Partners Lp	4.22%	92.4%	248,935	$9.66M
17	KNTK	Kinetik Holdings Inc	3.00%	95.4%	146,978	$6.86M
18	WES	Western Midstream Partners Lp	2.35%	97.8%	130,732	$5.38M
19	—	Venture Global Lng Inc	1.66%	99.4%	260,153	$3.81M
20	NEXT	Nextdecade Corp	0.90%	100.3%	263,867	$2.07M
21	—	Bnp Paribas Issuance Bv 11.37 2026-10-06	0.63%	101.0%	1,450,663	$1.45M
22	DKL	Delek Logistics Partners, Lp	0.46%	101.4%	20,743	$1.04M
23	GEL	Genesis Energy Lp	0.16%	101.6%	20,311	$357.5K
24	Debt	University Tex Univ Revs	0.16%	101.8%	367,607	$367.6K
25	—	Forward Foreign Currency Contract	0.00%	101.8%	-133	$-665
26	—	Lng Us 05/15/26 C330	0.00%	101.8%	-5	$-1800
27	—	Mplx Us 04/17/26 C60	0.00%	101.8%	-66	$-330
28	Debt	Taot 2024-A A3	0.00%	101.8%	-15	$-375
29	—	Barclays Bank Plc 2026-12-30	0.00%	101.8%	-50	$-950
30	Debt	Fhlmc 30Yr Umbs Mirror	0.00%	101.8%	-189	$-3024
31	Debt	Dnnscd	0.00%	101.8%	-22	$-924
32	—	Hesm Us 05/15/26 C41	0.00%	101.8%	-29	$-1392
33	—	Kntk Us 05/15/26 C55	0.00%	101.8%	-18	$-1260
34	Debt	Us Treasury N/B 09/28 4.625	0.00%	101.8%	-37	$-555
35	—	Cds Simon Property Group Lp	0.00%	101.8%	-55	$-550
36	—	Square 3.29 44384 2021-07-07	0.00%	101.8%	-463	$-3241
37	—	Oke Us 05/15/26 C100	0.00%	101.8%	-30	$-1740
38	—	Kmi Us 05/15/26 C37	0.00%	101.8%	-109	$-1362
39	—	JPMorgan Securities Llc 2026-02-02	0.00%	101.8%	-122	$-1525
40	—	Vg Us 04/17/26 C15	0.00%	101.8%	-38	$-3230
41	—	Am Us 05/15/26 C26	0.00%	101.8%	-71	$-532
42	—	Lng Us 05/15/26 C310	0.00%	101.8%	-6	$-3588
43	—	Forward Foreign Currency Contract	0.00%	101.8%	-103	$-5253
44	—	Kmi Us 04/17/26 C37	0.00%	101.8%	-27	$-148
45	—	Forward Foreign Currency Contract	0.00%	101.8%	-100	$-6750
46	—	Enb Us 04/17/26 C60	0.00%	101.8%	-34	$-85
47	—	Dkl Us 05/15/26 C60	0.00%	101.8%	-39	$-877
48	—	Us Dollar Broker	0.00%	101.8%	559	$559
49	—	Fannie Mae Pool 4.5%11/01/2048	0.00%	101.8%	-15	$-2490
50	—	Bought ILS Sold USD 20251015	0.00%	101.8%	-26	$-455
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MDST ETF All Holdings

MDST holdings total 118 positions. The top 10 holdings account for 65.3% of the fund, led by Enbridge Inc. Cumulative Redeemable Pfd at 9.0%, Energy Transfer Lp at 8.8%, Williams Companies Inc at 8.5%.

MDST portfolio concentration is relatively high, with the top 10 representing 65.3% of total assets. The largest sector exposure is Energy at 81.5%.

MDST sector allocation provides a detailed breakdown. MDST overlap tool shows how holdings compare to other funds in your portfolio.

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MDST ETF Holdings

118 of 118 holdings

Sector

Industry

Sort By

1
Enbridge Inc. Cumulative Redeemable Pfd
ENB:AQLEnergy
8.96%
2
Energy Transfer Lp
ETEnergy
8.78%
3
Williams Companies Inc
WMBEnergy
8.48%
4
Enterprise Produ
ESSO:THUnknown
6.96%
5
DT Midstream Inc
DTMEnergy
6.07%
6
Kinder Morgan Inc
KMIEnergy
5.90%
7
Cheniere Energy Inc Common Stock
LNGEnergy
5.38%
8
Oneok Inc.
OKEEnergy
4.99%
9
South Bow Corp
SOBO:CAReal Estate
4.98%
10
Transcanada Pipelines Limited
TRP:CAEnergy
4.85%
11
Antero Midstream Corp
AMEnergy
4.81%
12
Pembina Pipeline Corp
PPL:CAEnergy
4.65%
13
Mplx Lp
MPLXEnergy
4.57%
14
Plains Gp Hold-a
PAGPUnknown
4.49%
15
Targa Resources Corp.
TRGPEnergy
4.35%
16
Hess Midstream Partners Lp
HESMEnergy
4.22%
17
Kinetik Holdings Inc
KNTKUtilities
3.00%
18
Western Midstream Partners Lp
WESEnergy
2.35%
19
Venture Global Lng Inc
VGEnergy
1.66%
20
Nextdecade Corp Common Stock
NEXTEnergy
0.90%
21
Bnp Paribas Issuance Bv 11.37 2026-10-06
Other
0.63%
22
Delek Logistics Partners, Lp
DKLEnergy
0.46%
23
Genesis Energy Lp
GELEnergy
0.16%
24
University Tex Univ Revs 4 08/15/2035
Other
0.16%
25
Forward Foreign Currency Contract
Other
0.00%
26
Lng Us 05/15/26 C330
Other
0.00%
27
Mplx Us 04/17/26 C60
Other
0.00%
28
Taot 2024-A A3 04.8300 10/16/2028 4.83 2028-10-16
Other
0.00%
29
Barclays Bank Plc 2026-12-30
Other
0.00%
30
Fhlmc 30Yr Umbs Mirror 4 01/01/2049 4 2049-01-01
Other
0.00%
31
Dnnscd 5.000 08/15/34
Other
0.00%
32
Hesm Us 05/15/26 C41
Other
0.00%
33
Kntk Us 05/15/26 C55
Other
0.00%
34
Us Treasury N/B 09/28 4.625
Other
0.00%
35
Cds Simon Property Group Lp
Other
0.00%
36
Square 3.29 44384 2021-07-07
Other
0.00%
37
Oke Us 05/15/26 C100
Other
0.00%
38
Kmi Us 05/15/26 C37
Other
0.00%
39
Jpmorgan Securities Llc 2026-02-02
Other
0.00%
40
Vg Us 04/17/26 C15
Other
0.00%
41
Am Us 05/15/26 C26
Other
0.00%
42
Lng Us 05/15/26 C310
Other
0.00%
43
Forward Foreign Currency Contract
Other
0.00%
44
Kmi Us 04/17/26 C37
Other
0.00%
45
Forward Foreign Currency Contract
Other
0.00%
46
Enb Us 04/17/26 C60
Other
0.00%
47
Dkl Us 05/15/26 C60
Other
0.00%
48
Us Dollar Broker
Other
0.00%
49
Fannie Mae Pool 4.5%11/01/2048
Other
0.00%
50
Bought ILS Sold USD 20251015
Other
0.00%
51
Am Us 05/15/26 C25
Other
0.00%
52
Freddie Mac Pool Ra9734 3.00% 8/1/2053
Other
0.00%
53
United Airlines Holdings Inc
Other
0.00%
54
Epd Us 05/15/26 C42
Other
0.00%
55
Fswp: ZAR 7.217500 17-Sep-2030 Jib
Other
0.00%
56
Wmb Us 05/15/26 C80
Other
0.00%
57
Dtm Us 04/17/26 C150
Other
0.00%
58
Sortera Tech Series Pf2-14 Pfd Pp
Other
0.00%
59
Enb Us 04/17/26 C57.5
Other
0.00%
60
Hesm Us 05/15/26 C42
Other
0.00%
61
Egypt Government International Bonds 6.375% 04/11/2031
Other
0.00%
62
Wes Us 04/17/26 C44
Other
0.00%
63
Uber Technologies, Inc. 4.50% 8/15/2029
Other
0.00%
64
Mplx Us 05/15/26 C60
Other
0.00%
65
Enb Us 05/15/26 C60
Other
0.00%
66
Forward Foreign Currency Contract
Other
0.00%
67
Sold IDR Bought USD 20260610
Other
0.00%
68
Dkl Us 04/17/26 C60
Other
0.00%
69
Sold Inr/Bought USD
Other
0.00%
70
Huntington Bank Auto Credit-Linked Notes Series 2025-1 4.96 03/21/2033
Other
0.00%
71
Dkl Us 05/15/26 C55
Other
0.00%
72
E-Mini Dow Jones Industrial Average Index Futures, Jun-2026,Eth
Other
0.00%
73
Hesm Us 05/15/26 C43
Other
0.00%
74
U.S. Treasury 1.625% 5/15/2031
Other
0.00%
75
Gel Us 05/15/26 C20
Other
0.00%
76
Dkl Us 04/17/26 C55
Other
0.00%
77
New York N Y City Mun Wtr Fin 2.9% 06/15/2053
Other
0.00%
78
Lng Us 04/17/26 C280
Other
0.00%
79
Sold TWD Bought USD 20260617
Other
0.00%
80
Next Us 04/17/26 C7
Other
0.00%
81
Bought PHP Sold USD 20260417
Other
0.00%
82
Eli Lilly & Co 4.0000% Mat 10/15/2028 4 2028-10-15
Other
0.00%
83
ASF IX L.P.
Other
0.00%
84
Trp Us 04/17/26 C65
Other
0.00%
85
Torchys Holdings Cvt Pfd
Other
-0.01%
86
Oke Us 04/17/26 C90
Other
-0.01%
87
Lng Us 04/17/26 C250
Other
-0.01%
88
Chandler Ariz Indl Dev Auth Indl Dev Rev Var 01-Sep-2042
Other
-0.01%
89
Mplx Us 05/15/26 C65
Other
-0.01%
90
Duluth Minn Economic Dev Auth Health Care Facs Rev 5.25% 15-Jun-2042
Other
-0.01%
91
Mozambique (Republic Of) 9.00% 9/15/2031
Other
-0.01%
92
Cheung Kong Infrastructure Holding
Other
-0.01%
93
Sobo Us 05/15/26 C35
Other
-0.01%
94
Sold AUD Bought USD 20251002
Other
-0.01%
95
Artera Services Llc 8.17 2031-02-15
Other
-0.02%
96
Bought INR Sold USD 20260407
Other
-0.02%
97
Jm Smucker Co Sr Unsecured 11/43 6.5
Other
-0.02%
98
Indonesia (Republic Of) 7.125% 8/15/2040
Other
-0.02%
99
Pba Us 04/17/26 C45
Other
-0.03%
100
Sobo Us 04/17/26 C35
Other
-0.03%
101
CHF/USD Fwd 20251104
Other
-0.03%
102
Next Us 05/15/26 C9
Other
-0.03%
103
Forward Foreign Currency Contract
Other
-0.03%
104
Trgp Us 04/17/26 C230
Other
-0.03%
105
Mondelez International Inc Class A option
Other
-0.04%
106
Viasat, Inc. 6.50% 7/15/2028
Other
-0.04%
107
Enb Us 05/15/26 C57.5
Other
-0.06%
108
Kntk Us 05/15/26 C50
Other
-0.06%
109
Oke Us 05/15/26 C95
Other
-0.06%
110
Hesm Us 04/17/26 C39
Other
-0.07%
111
Trgp Us 05/15/26 C260
Other
-0.08%
112
National Express Group Plc
Other
-0.10%
113
Vg Us 04/17/26 C12.5
Other
-0.12%
114
AMGEN INC 3.15 02/21/2040
Other
-0.12%
115
Hyundai Cap America P/P 144A 05.3500 03/19/2029
Other
-0.14%
116
Pagp Us 04/17/26 C23
Other
-0.14%
117
Hicpxt
Other
-0.16%
118
Vg Us 04/17/26 C10
Other
-0.20%

#	Company	Ticker	Weight
1	Enbridge Inc. Cumulative Redeemable Pfd	ENB:AQL	8.960%
2	Energy Transfer Lp	ET	8.780%
3	Williams Companies Inc	WMB	8.480%
4	Enterprise Produ	ESSO:TH	6.960%
5	DT Midstream Inc	DTM	6.070%
6	Kinder Morgan Inc	KMI	5.900%
7	Cheniere Energy Inc Common Stock	LNG	5.380%
8	Oneok Inc.	OKE	4.990%
9	South Bow Corp	SOBO:CA	4.980%
10	Transcanada Pipelines Limited	TRP:CA	4.850%
11	Antero Midstream Corp	AM	4.810%
12	Pembina Pipeline Corp	PPL:CA	4.650%
13	Mplx Lp	MPLX	4.570%
14	Plains Gp Hold-a	PAGP	4.490%
15	Targa Resources Corp.	TRGP	4.350%
16	Hess Midstream Partners Lp	HESM	4.220%
17	Kinetik Holdings Inc	KNTK	3.000%
18	Western Midstream Partners Lp	WES	2.350%
19	Venture Global Lng Inc	VG	1.660%
20	Nextdecade Corp Common Stock	NEXT	0.900%
21	Bnp Paribas Issuance Bv 11.37 2026-10-06	-	0.630%
22	Delek Logistics Partners, Lp	DKL	0.460%
23	Genesis Energy Lp	GEL	0.160%
24	University Tex Univ Revs 4 08/15/2035	-	0.160%
25	Forward Foreign Currency Contract	-	0.000%
26	Lng Us 05/15/26 C330	-	0.000%
27	Mplx Us 04/17/26 C60	-	0.000%
28	Taot 2024-A A3 04.8300 10/16/2028 4.83 2028-10-16	-	0.000%
29	Barclays Bank Plc 2026-12-30	-	0.000%
30	Fhlmc 30Yr Umbs Mirror 4 01/01/2049 4 2049-01-01	-	0.000%
31	Dnnscd 5.000 08/15/34	-	0.000%
32	Hesm Us 05/15/26 C41	-	0.000%
33	Kntk Us 05/15/26 C55	-	0.000%
34	Us Treasury N/B 09/28 4.625	-	0.000%
35	Cds Simon Property Group Lp	-	0.000%
36	Square 3.29 44384 2021-07-07	-	0.000%
37	Oke Us 05/15/26 C100	-	0.000%
38	Kmi Us 05/15/26 C37	-	0.000%
39	Jpmorgan Securities Llc 2026-02-02	-	0.000%
40	Vg Us 04/17/26 C15	-	0.000%
41	Am Us 05/15/26 C26	-	0.000%
42	Lng Us 05/15/26 C310	-	0.000%
43	Forward Foreign Currency Contract	-	0.000%
44	Kmi Us 04/17/26 C37	-	0.000%
45	Forward Foreign Currency Contract	-	0.000%
46	Enb Us 04/17/26 C60	-	0.000%
47	Dkl Us 05/15/26 C60	-	0.000%
48	Us Dollar Broker	-	0.000%
49	Fannie Mae Pool 4.5%11/01/2048	-	0.000%
50	Bought ILS Sold USD 20251015	-	0.000%
51	Am Us 05/15/26 C25	-	0.000%
52	Freddie Mac Pool Ra9734 3.00% 8/1/2053	-	0.000%
53	United Airlines Holdings Inc	-	0.000%
54	Epd Us 05/15/26 C42	-	0.000%
55	Fswp: ZAR 7.217500 17-Sep-2030 Jib	-	0.000%
56	Wmb Us 05/15/26 C80	-	0.000%
57	Dtm Us 04/17/26 C150	-	0.000%
58	Sortera Tech Series Pf2-14 Pfd Pp	-	0.000%
59	Enb Us 04/17/26 C57.5	-	0.000%
60	Hesm Us 05/15/26 C42	-	0.000%
61	Egypt Government International Bonds 6.375% 04/11/2031	-	0.000%
62	Wes Us 04/17/26 C44	-	0.000%
63	Uber Technologies, Inc. 4.50% 8/15/2029	-	0.000%
64	Mplx Us 05/15/26 C60	-	0.000%
65	Enb Us 05/15/26 C60	-	0.000%
66	Forward Foreign Currency Contract	-	0.000%
67	Sold IDR Bought USD 20260610	-	0.000%
68	Dkl Us 04/17/26 C60	-	0.000%
69	Sold Inr/Bought USD	-	0.000%
70	Huntington Bank Auto Credit-Linked Notes Series 2025-1 4.96 03/21/2033	-	0.000%
71	Dkl Us 05/15/26 C55	-	0.000%
72	E-Mini Dow Jones Industrial Average Index Futures, Jun-2026,Eth	-	0.000%
73	Hesm Us 05/15/26 C43	-	0.000%
74	U.S. Treasury 1.625% 5/15/2031	-	0.000%
75	Gel Us 05/15/26 C20	-	0.000%
76	Dkl Us 04/17/26 C55	-	0.000%
77	New York N Y City Mun Wtr Fin 2.9% 06/15/2053	-	0.000%
78	Lng Us 04/17/26 C280	-	0.000%
79	Sold TWD Bought USD 20260617	-	0.000%
80	Next Us 04/17/26 C7	-	0.000%
81	Bought PHP Sold USD 20260417	-	0.000%
82	Eli Lilly & Co 4.0000% Mat 10/15/2028 4 2028-10-15	-	0.000%
83	ASF IX L.P.	-	0.000%
84	Trp Us 04/17/26 C65	-	0.000%
85	Torchys Holdings Cvt Pfd	-	-0.010%
86	Oke Us 04/17/26 C90	-	-0.010%
87	Lng Us 04/17/26 C250	-	-0.010%
88	Chandler Ariz Indl Dev Auth Indl Dev Rev Var 01-Sep-2042	-	-0.010%
89	Mplx Us 05/15/26 C65	-	-0.010%
90	Duluth Minn Economic Dev Auth Health Care Facs Rev 5.25% 15-Jun-2042	-	-0.010%
91	Mozambique (Republic Of) 9.00% 9/15/2031	-	-0.010%
92	Cheung Kong Infrastructure Holding	-	-0.010%
93	Sobo Us 05/15/26 C35	-	-0.010%
94	Sold AUD Bought USD 20251002	-	-0.010%
95	Artera Services Llc 8.17 2031-02-15	-	-0.020%
96	Bought INR Sold USD 20260407	-	-0.020%
97	Jm Smucker Co Sr Unsecured 11/43 6.5	-	-0.020%
98	Indonesia (Republic Of) 7.125% 8/15/2040	-	-0.020%
99	Pba Us 04/17/26 C45	-	-0.030%
100	Sobo Us 04/17/26 C35	-	-0.030%
101	CHF/USD Fwd 20251104	-	-0.030%
102	Next Us 05/15/26 C9	-	-0.030%
103	Forward Foreign Currency Contract	-	-0.030%
104	Trgp Us 04/17/26 C230	-	-0.030%
105	Mondelez International Inc Class A option	-	-0.040%
106	Viasat, Inc. 6.50% 7/15/2028	-	-0.040%
107	Enb Us 05/15/26 C57.5	-	-0.060%
108	Kntk Us 05/15/26 C50	-	-0.060%
109	Oke Us 05/15/26 C95	-	-0.060%
110	Hesm Us 04/17/26 C39	-	-0.070%
111	Trgp Us 05/15/26 C260	-	-0.080%
112	National Express Group Plc	-	-0.100%
113	Vg Us 04/17/26 C12.5	-	-0.120%
114	AMGEN INC 3.15 02/21/2040	-	-0.120%
115	Hyundai Cap America P/P 144A 05.3500 03/19/2029	-	-0.140%
116	Pagp Us 04/17/26 C23	-	-0.140%
117	Hicpxt	-	-0.160%
118	Vg Us 04/17/26 C10	-	-0.200%