Schedule of Investments
ARK Next Generation Internet ETF
October 31, 2024 (Unaudited)
| Investments | Shares | Value | ||||||
| COMMON STOCKS–88.3% | ||||||||
| Automobiles - 9.1% | ||||||||
| Tesla, Inc.* | 507,429 | $ | 126,781,136 | |||||
| Banks - 0.9% | ||||||||
| NU Holdings Ltd., Class A (Brazil)* | 829,027 | 12,510,017 | ||||||
| Broadline Retail - 2.4% | ||||||||
| Amazon.com, Inc.* | 84,192 | 15,693,389 | ||||||
| MercadoLibre, Inc. (Brazil)* | 8,800 | 17,927,184 | ||||||
| Total Broadline Retail | 33,620,573 | |||||||
| Capital Markets - 9.5% | ||||||||
| Coinbase Global, Inc., Class A* | 404,512 | 72,508,776 | ||||||
| Robinhood Markets, Inc., Class A* | 2,513,331 | 59,038,145 | ||||||
| Total Capital Markets | 131,546,921 | |||||||
| Entertainment - 16.6% | ||||||||
| ROBLOX Corp., Class A* | 1,809,050 | 93,564,066 | ||||||
| Roku, Inc.* | 1,737,958 | 111,368,349 | ||||||
| Spotify Technology SA* | 63,693 | 24,528,174 | ||||||
| Total Entertainment | 229,460,589 | |||||||
| Financial Services - 7.5% | ||||||||
| Adyen NV (Netherlands)*(a) | 983,741 | 15,054,014 | ||||||
| Block, Inc.* | 1,000,846 | 72,381,183 | ||||||
| Toast, Inc., Class A* | 539,644 | 16,205,509 | ||||||
| Total Financial Services | 103,640,706 | |||||||
| Hotels, Restaurants & Leisure - 4.6% | ||||||||
| DraftKings, Inc., Class A* | 920,065 | 32,496,696 | ||||||
| Genius Sports Ltd. (United Kingdom)* | 4,532,051 | 31,044,549 | ||||||
| Total Hotels, Restaurants & Leisure | 63,541,245 | |||||||
| Interactive Media & Services - 9.4% | ||||||||
| Meta Platforms, Inc., Class A | 119,578 | 67,870,081 | ||||||
| Nextdoor Holdings, Inc.* | 6,680,557 | 16,166,948 | ||||||
| Pinterest, Inc., Class A* | 645,161 | 20,509,668 | ||||||
| Reddit, Inc., Class A* | 215,088 | 25,659,999 | ||||||
| Total Interactive Media & Services | 130,206,696 | |||||||
| IT Services - 5.7% | ||||||||
| Cloudflare, Inc., Class A* | 337,883 | 29,635,718 | ||||||
| Shopify, Inc., Class A (Canada)* | 636,930 | 49,814,295 | ||||||
| Total IT Services | 79,450,013 | |||||||
| Media - 2.0% | ||||||||
| Trade Desk, Inc. (The), Class A* | 229,745 | 27,617,647 | ||||||
| Semiconductors & Semiconductor Equipment - 4.8% | ||||||||
| Advanced Micro Devices, Inc.* | 172,569 | 24,862,016 | ||||||
| NVIDIA Corp. | 140,158 | 18,607,376 | ||||||
| QUALCOMM, Inc. | 41,557 | 6,764,233 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)(a) | 89,086 | 16,974,446 | ||||||
| Total Semiconductors & Semiconductor Equipment | 67,208,071 | |||||||
| Investments | Shares | Value | ||||||
| Software - 15.1% | ||||||||
| Crowdstrike Holdings, Inc., Class A* | 98,723 | $ | 29,307,897 | |||||
| Datadog, Inc., Class A* | 120,189 | 15,076,508 | ||||||
| Gitlab, Inc., Class A* | 277,949 | 14,939,759 | ||||||
| Microsoft Corp. | 29,143 | 11,842,258 | ||||||
| PagerDuty, Inc.* | 1,286,840 | 23,240,330 | ||||||
| Palantir Technologies, Inc., Class A* | 1,196,794 | 49,738,759 | ||||||
| Rubrik, Inc., Class A* | 407,784 | 16,825,168 | ||||||
| UiPath, Inc., Class A* | 1,959,081 | 24,214,241 | ||||||
| Unity Software, Inc.* | 1,168,275 | 23,458,962 | ||||||
| Total Software | 208,643,882 | |||||||
| Technology Hardware, Storage & Peripherals - 0.7% | ||||||||
| Pure Storage, Inc., Class A* | 187,188 | 9,368,759 | ||||||
| Total Common Stocks | ||||||||
| (Cost $1,322,131,999) | 1,223,596,255 | |||||||
| EXCHANGE - TRADED FUNDS–11.8% | ||||||||
| Financials - 11.8% | ||||||||
| 3iQ Ether Staking ETF (Canada)*† | 980,459 | 9,710,583 | ||||||
| ARK 21Shares Bitcoin ETF† | 2,209,075 | 154,325,979 | ||||||
| Total Financials | 164,036,562 | |||||||
| Total Exchange - Traded Funds | ||||||||
| (Cost $101,926,527) | 164,036,562 | |||||||
| MONEY MARKET FUND–0.0%(b) | ||||||||
| Goldman Sachs Financial Square Treasury Obligations Fund, 4.74% (c) | ||||||||
| (Cost $4,119) | 4,119 | 4,119 | ||||||
| Total Investments–100.1% | ||||||||
| (Cost $1,424,062,645) | 1,387,636,936 | |||||||
| Liabilities in Excess of Other Assets–(0.1)% | (1,843,466 | ) | ||||||
| Net Assets–100.0% | $ | 1,385,793,470 |
| † | Affiliated security |
| * | Non-income producing security |
| (a) | American Depositary Receipt |
| (b) | Less than 0.05% |
| (c) | Rate shown represents annualized 7-day yield as of October 31, 2024. |
Schedule of Investments (continued)
ARK Next Generation Internet ETF
October 31, 2024 (Unaudited)
Affiliated Issuer Transactions
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities, or a company that is under common ownership or control. Period-to-date transactions with companies which are or were affiliates are as follows:
| Value ($) at 7/31/2024 | Purchases Cost ($) | Sales Proceeds ($) | Net Realized Gain/(Loss) ($) | Net Change in Unrealized Appreciation (Depreciation) ($) | Dividend Income ($) | Capital Gain Distributions ($) | Number of Shares at 10/31/2024 | Value ($) at 10/31/2024 | ||||||||||||||||||||||||||
| Exchange - Traded Funds — 11.8% | ||||||||||||||||||||||||||||||||||
| Financials — 11.8% | ||||||||||||||||||||||||||||||||||
| 3iQ Ether Staking ETF | ||||||||||||||||||||||||||||||||||
| – | 13,411,337 | (1,102,481 | ) | (258,034 | ) | (2,340,239 | ) | – | – | 980,459 | 9,710,583 | |||||||||||||||||||||||
| ARK 21Shares Active Ethereum Futures Strategy ETF ^ | ||||||||||||||||||||||||||||||||||
| 744,116 | – | (559,671 | ) | (155,855 | ) | (28,590 | ) | – | – | – | – | |||||||||||||||||||||||
| ARK 21Shares Bitcoin ETF | ||||||||||||||||||||||||||||||||||
| 153,959,889 | – | (9,686,801 | ) | 3,032,081 | 7,020,810 | – | – | 2,209,075 | 154,325,979 | |||||||||||||||||||||||||
| $ | 154,704,005 | $ | 13,411,33 | $ | (11,348,953 | ) | $ | (2,618,192 | ) | $ | 4,651,981 | $ | – | $ | – | 3,189,534 | $ | 164,036,562 | ||||||||||||||||
| ^ | As of October 31, 2024, the company was no longer considered to be an affiliated security. |
Fair Value Measurement
The Fund discloses the fair value of its investments in a hierarchy that distinguishes between: (i) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (ii) the Fund’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:
• Level 1 — Quoted prices in active markets for identical assets.
• Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
• Level 3 — Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the valuations as of October 31, 2024, based upon the three levels defined above:
| ARK Next Generation Internet ETF | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Assets | ||||||||||||||||
| Common Stocks‡ | $ | 1,223,596,255 | $ | – | $ | – | $ | 1,223,596,255 | ||||||||
| Exchange - Traded Funds | $ | 164,036,562 | $ | – | $ | – | $ | 164,036,562 | ||||||||
| Money Market Fund | 4,119 | – | – | 4,119 | ||||||||||||
| Total | $ | 1,387,636,936 | $ | – | $ | – | $ | 1,387,636,936 | ||||||||
| ‡ | Please refer to the Schedule of Investments to view securities segregated by industry type. |
