Exchange Traded Concepts Trust (NUKZ) NPORT-P FMQQ The Next Frontier Internet & Ecommerce ETF (May 2024 report)

EMQQ

The Emerging Markets Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited)

Description	Shares		Fair Value
COMMON STOCK — 99.3%
Argentina — 0.1%
Consumer Discretionary — 0.1%
Despegar.com*		20,831	$	314,548
Brazil — 12.3%
Communication Services — 0.0%
VTEX, Cl A*		19,017		130,457
Consumer Discretionary — 8.0%
Afya, Cl A*		8,730		145,354
CVC Brasil Operadora e Agencia de Viagens*		168,000		62,011
GRUPO DE MODA SOMA		188,500		210,885
Magazine Luiza*		108,620		252,545
MercadoLibre*		16,956		29,258,934
Pet Center Comercio e Participacoes		122,400		88,728
				30,018,457
Financials — 4.3%
Inter		107,279		640,304
NU Holdings, Cl A*		912,937		10,845,692
Pagseguro Digital, Cl A*		76,487		936,966
StoneCo, Cl A*		93,558		1,294,843
XP, Cl A		128,226		2,435,012
				16,152,817
Industrials — 0.0%
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao		30,100		91,058
Information Technology — 0.0%
Locaweb Servicos de Internet		130,400		107,181
				46,499,970
China — 51.9%
Communication Services — 18.9%
Baidu, Cl A*		850,854		10,168,898
Bilibili, Cl Z*		94,736		1,346,564
China Literature*		147,400		495,519
China Ruyi Holdings(A)*		2,120,799		580,124
Hello Group ADR		53,853		303,731
HUYA ADR		32,820		166,726
iDreamSky Technology Holdings*		337,200		129,736
iQIYI ADR*		174,275		806,893

Description	Shares		Fair Value
China — continued
Communication Services — continued
Kanzhun ADR		124,015	$	2,635,319
Kingsoft		356,800		1,140,176
Kuaishou Technology, Cl B*		946,400		6,707,853
Maoyan Entertainment*		132,800		151,076
Meitu(A)		850,000		303,131
NetEase		675,080		11,873,559
Tencent Holdings		665,992		30,629,324
Tencent Music Entertainment Group ADR*		237,588		3,433,147
XD(A)*		100,200		250,777
				71,122,553
Consumer Discretionary — 29.3%
Alibaba Group Holding		3,006,208		28,781,146
JD.com, Cl A		920,294		13,398,542
Meituan, Cl B*		1,979,979		26,599,323
PDD Holdings ADR*		187,309		28,055,142
Tongcheng Travel Holdings*		449,200		1,025,483
Trip.com Group*		216,061		10,814,995
Vipshop Holdings ADR		130,858		2,102,888
				110,777,519
Consumer Staples — 0.7%
Alibaba Health Information Technology(A)*		1,800,000		754,664
Dada Nexus ADR*		93,865		155,816
JD Health International*		383,400		1,281,537
Ping An Healthcare and Technology*		196,000		280,596
				2,472,613
Financials — 0.6%
FinVolution Group ADR		56,414		269,659
Qifu Technology ADR		53,810		1,039,609
Up Fintech Holding ADR*		58,670		249,348
ZhongAn Online P&C Insurance, Cl H*		264,200		449,150
				2,007,766
Health Care — 0.0%
Yidu Tech*		190,600		97,452
Industrials — 0.8%
Full Truck Alliance ADR		337,930		2,987,301

EMQQ

The Emerging Markets Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited) (Continued)

Description	Shares		Fair Value
China — continued
Information Technology — 0.4%
Kingdee International Software Group*		1,055,000	$	1,078,822
Kingsoft Cloud Holdings ADR(A)*		93,643		265,010
Vnet Group ADR*		48,958		94,978
Weimob(A)*		827,000		155,392
				1,594,202
Real Estate — 1.2%
KE Holdings, Cl A		823,242		4,619,546
Phoenix Tree Holdings ADR(A)(B)*		179,833		—
				4,619,546
				195,678,952
Germany — 0.1%
Consumer Discretionary — 0.1%
Jumia Technologies ADR*		37,909		268,775
Hong Kong — 0.8%
Communication Services — 0.1%
Alibaba Pictures Group*		3,470,000		199,595
Zx(A)*		67,400		222,273
				421,868
Financials — 0.7%
Futu Holdings ADR*		32,896		2,471,805
				2,893,673
India — 16.2%
Communication Services — 0.6%
Affle India*		18,581		253,156
Info Edge India		25,942		1,770,600
Nazara Technologies*		15,203		127,831
				2,151,587
Consumer Discretionary — 2.0%
Easy Trip Planners		226,062		113,612
FSN E-Commerce Ventures*		397,138		781,228
Jubilant Foodworks		140,290		830,265
MakeMyTrip*		22,714		1,716,951
Zomato*		1,998,330		4,288,911
				7,730,967

Description	Shares		Fair Value
India — continued
Energy — 8.8%
Reliance Industries		968,665	$	33,198,938
Financials — 4.4%
Angel One		11,958		353,463
Bajaj Finance		105,603		8,473,543
ICICI Securities		30,701		262,887
Indian Energy Exchange		285,733		524,252
Jio Financial Services*		1,247,607		5,146,844
One 97 Communications*		92,466		399,624
PB Fintech*		91,014		1,411,366
				16,571,979
Industrials — 0.1%
IndiaMart InterMesh		10,355		299,927
TeamLease Services*		4,296		150,021
				449,948
Information Technology — 0.3%
CE Info Systems		8,649		198,705
Happiest Minds Technologies		21,466		202,776
Intellect Design Arena		26,878		295,695
Route Mobile		9,856		174,340
Tanla Platforms		24,950		274,500
				1,146,016
				61,249,435
Indonesia — 0.4%
Consumer Discretionary — 0.3%
Bukalapak.com*		19,580,600		156,645
GoTo Gojek Tokopedia, Cl A*		305,835,400		1,223,341
				1,379,986
Financials — 0.1%
Bank Jago*		1,970,100		292,181
				1,672,167
Japan — 0.7%
Communication Services — 0.7%
Nexon		157,600		2,699,293
Poland — 0.9%
Communication Services — 0.2%
CD Projekt(A)		24,374		806,688
Consumer Discretionary — 0.7%
Allegro.eu*		193,856		1,860,023

EMQQ

The Emerging Markets Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited) (Continued)

Description	Shares		Fair Value
Poland — continued
Consumer Discretionary — continued
CCC*		19,445	$	659,362
				2,519,385
				3,326,073
Russia — 0.0%
Communication Services — 0.0%
VK GDR(B)*		117,354		1,174
Consumer Discretionary — 0.0%
Ozon Holdings ADR(B)*		125,832		1,258
TCS Group Holding GDR(B)*		89,202		892
				2,150
Industrials — 0.0%
HeadHunter Group ADR(B)*		25,106		251
				3,575
Singapore — 4.2%
Communication Services — 3.5%
Sea ADR*		193,172		13,042,973
Industrials — 0.7%
Grab Holdings, Cl A*		747,174		2,742,129
				15,785,102
South Africa — 3.8%
Communication Services — 0.2%
MultiChoice Group*		116,494		696,396
Consumer Discretionary — 3.6%
Naspers, Cl N		68,872		13,638,430
				14,334,826
South Korea — 6.6%
Communication Services — 3.1%
CJ ENM*		3,864		249,776
Com2uSCorp		2,846		82,633
Kakao		110,406		3,452,804
Kakao Games*		13,818		213,076
NAVER		52,522		6,456,426
NCSoft		5,985		822,610
Neowiz		4,525		66,345
SOOP		3,014		242,069
				11,585,739

Description	Shares		Fair Value
South Korea — continued
Consumer Discretionary — 3.2%
Coupang, Cl A*		439,531	$	9,994,935
Delivery Hero, Cl A*		68,992		2,090,394
				12,085,329
Financials — 0.3%
KakaoBank		59,681		959,086
Kakaopay*		9,118		204,152
				1,163,238
				24,834,306
Sweden — 0.0%
Information Technology — 0.0%
Truecaller, Cl B(A)		63,632		223,860
Taiwan — 0.2%
Communication Services — 0.0%
Gamania Digital Entertainment		46,000		119,850
Consumer Discretionary — 0.2%
momo.com		42,768		579,587
				699,437
United Arab Emirates — 0.0%
Communication Services — 0.0%
Yalla Group ADR*		34,053		160,049
United States — 1.0%
Financials — 0.8%
Kaspi.KZ JSC ADR		15,200		1,921,280
Lufax Holding ADR(A)		215,750		966,561
				2,887,841
Information Technology — 0.2%
Freshworks, Cl A*		59,569		767,249
				3,655,090
Uruguay — 0.1%
Financials — 0.1%
Dlocal, Cl A*		29,177		266,970
Total Common Stock
(Cost $411,936,683)				374,566,101

EMQQ

The Emerging Markets Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited) (Concluded)

Description	Shares		Fair Value
SHORT-TERM INVESTMENT — 0.8%
Invesco Government & Agency
Portfolio, Institutional Class
5.23%(C)(D)		3,177,878	$	3,177,878
Total Short-Term Investment
(Cost $3,177,878)				3,177,878
Total Investments - 100.1%
(Cost $415,114,561)			$	377,743,979

Percentages are based on net assets of $377,247,328.

* Non-income producing security.

(A) This security or a partial position of this security is on loan at May 31, 2024. The total value of securities on loan at May 31, 2024 was $2,995,194.

(B) Security is fair valued.

(C) This security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2024 was $3,177,878.

(D) The rate shown is the 7-day effective yield as of May 31, 2024.

ADR — American Depositary Receipt

Cl — Class

GDR — Global Depositary Receipt

JSC — Joint-Stock Company

FMQQ

The Next Frontier Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited)

Description	Shares		Fair Value
COMMON STOCK — 99.2%
Argentina — 0.3%
Consumer Discretionary — 0.3%
Despegar.com*		5,739	$	86,659
Brazil — 21.1%
Communication Services — 0.1%
VTEX, Cl A*		5,231		35,885
Consumer Discretionary — 7.5%
Afya, Cl A*		2,407		40,076
CVC Brasil Operadora e
Agencia de Viagens*		46,201		17,053
GRUPO DE MODA SOMA		51,897		58,060
Magazine Luiza*		29,979		69,701
MercadoLibre*		1,032		1,780,799
Pet Center Comercio e
Participacoes		33,614		24,367
				1,990,056
Financials — 13.3%
Inter		29,639		176,903
NU Holdings, Cl A*		176,406		2,095,703
Pagseguro Digital, Cl A*		21,007		257,336
StoneCo, Cl A*		25,684		355,466
XP, Cl A		35,209		668,619
				3,554,027
Industrials — 0.1%
Valid Solucoes e Servicos de
Seguranca em Meios de
Pagamento e Identificacao		8,166		24,704
Information Technology — 0.1%
Locaweb Servicos de Internet		35,658		29,309
				5,633,981
Germany — 0.3%
Consumer Discretionary — 0.3%
Jumia Technologies ADR*		10,460		74,161
India — 34.6%
Communication Services — 2.2%
Affle India*		5,117		69,716
Info Edge India		7,153		488,208
Nazara Technologies*		4,193		35,256
				593,180

Description	Shares		Fair Value
India — continued
Consumer Discretionary — 7.9%
Easy Trip Planners		62,331	$	31,325
FSN E-Commerce Ventures*		109,740		215,875
Jubilant Foodworks		38,756		229,366
MakeMyTrip*		6,237		471,455
Zomato*		552,208		1,185,175
				2,133,196
Energy — 8.6%
Reliance Industries		67,148		2,301,355
Financials — 14.3%
Angel One		3,299		97,514
Bajaj Finance		19,609		1,573,418
ICICI Securities		8,477		72,587
Indian Energy Exchange		78,954		144,862
Jio Financial Services*		342,760		1,414,013
One 97 Communications*		25,545		110,402
PB Fintech*		25,138		389,818
				3,802,614
Industrials — 0.4%
IndiaMart InterMesh		2,856		82,723
TeamLease Services*		1,179		41,172
				123,895
Information Technology — 1.2%
CE Info Systems		2,371		54,472
Happiest Minds Technologies		5,915		55,875
Intellect Design Arena		7,413		81,554
Route Mobile		2,711		47,954
Tanla Platforms		6,884		75,738
				315,593
				9,269,833
Indonesia — 1.7%
Consumer Discretionary — 1.4%
Bukalapak.com*		5,408,800		43,271
GoTo Gojek Tokopedia, Cl A*		84,025,300		336,101
				379,372
Financials — 0.3%
Bank Jago*		543,600		80,620
				459,992

FMQQ

The Next Frontier Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited) (Continued)

Description	Shares		Fair Value
Japan — 2.7%
Communication Services — 2.7%
Nexon		41,900	$	717,642
Poland — 3.4%
Communication Services — 0.8%
CD Projekt		6,718		222,341
Consumer Discretionary — 2.6%
Allegro.eu*		53,548		513,786
CCC*		5,363		181,854
				695,640
				917,981
Russia — 0.0%
Communication Services — 0.0%
VK GDR(A)*		7,810		78
Consumer Discretionary — 0.0%
Ozon Holdings ADR(A)*		8,369		84
TCS Group Holding GDR(A)*		5,934		59
				143
Industrials — 0.0%
HeadHunter Group ADR(A)*		1,664		17
				238
Singapore — 12.0%
Communication Services — 9.2%
Sea ADR*		36,335		2,453,339
Industrials — 2.8%
Grab Holdings, Cl A*		205,268		753,334
				3,206,673
South Africa — 0.7%
Communication Services — 0.7%
MultiChoice Group*		32,175		192,341
South Korea — 18.9%
Communication Services — 9.4%
CJ ENM*		1,048		67,744
Com2uSCorp		768		22,299
Kakao		27,511		860,371
Kakao Games*		3,799		58,581
NAVER		9,641		1,185,149
NCSoft		1,628		223,761

Description	Shares		Fair Value
South Korea — continued
Communication Services — continued
Neowiz		1,248	$	18,298
SOOP		820		65,858
				2,502,061
Consumer Discretionary — 8.3%
Coupang, Cl A*		73,120		1,662,749
Delivery Hero, Cl A*		18,932		573,622
				2,236,371
Financials — 1.2%
KakaoBank		16,435		264,114
Kakaopay*		2,510		56,199
				320,313
				5,058,745
Sweden — 0.2%
Information Technology — 0.2%
Truecaller, Cl B		17,594		61,897
United Arab Emirates — 0.2%
Communication Services — 0.2%
Yalla Group ADR*		9,393		44,147
United States — 2.8%
Financials — 2.0%
Kaspi.KZ JSC ADR		4,193		529,995
Information Technology — 0.8%
Freshworks, Cl A*		16,344		210,511
				740,506
Uruguay — 0.3%
Financials — 0.3%
Dlocal, Cl A*		8,050		73,657
Total Common Stock
(Cost $27,844,815)				26,538,453
Total Investments - 99.2%
(Cost $27,844,815)			$	26,538,453

Percentages are based on net assets of $26,764,251.

FMQQ

The Next Frontier Internet ETF

Schedule of Investments

May 31, 2024 (Unaudited) (Concluded)

* Non-income producing security.

(A) Security is fair valued.

ADR — American Depositary Receipt

Cl — Class

GDR — Global Depositary Receipt

JSC — Joint-Stock Company

EMQ-QH-001-1900