Schedule of Investments
ARK Fintech Innovation ETF
October 31, 2024 (Unaudited)
| Investments | Shares | Value | ||||||
| COMMON STOCKS–94.2% | ||||||||
| Banks - 2.1% | ||||||||
| NU Holdings Ltd., Class A (Brazil)* | 1,238,918 | $ | 18,695,273 | |||||
| Broadline Retail - 5.9% | ||||||||
| Amazon.com, Inc.* | 21,865 | 4,075,636 | ||||||
| Global-e Online Ltd. (Israel)* | 454,679 | 17,477,861 | ||||||
| MercadoLibre, Inc. (Brazil)* | 15,060 | 30,679,931 | ||||||
| Total Broadline Retail | 52,233,428 | |||||||
| Capital Markets - 13.1% | ||||||||
| Coinbase Global, Inc., Class A* | 382,122 | 68,495,369 | ||||||
| Intercontinental Exchange, Inc. | 66,807 | 10,413,207 | ||||||
| Robinhood Markets, Inc., Class A* | 1,622,164 | 38,104,632 | ||||||
| Total Capital Markets | 117,013,208 | |||||||
| Consumer Finance - 6.3% | ||||||||
| Kaspi.KZ JSC (Kazakhstan)(a) | 123,772 | 13,632,248 | ||||||
| SoFi Technologies, Inc.* | 3,826,894 | 42,746,406 | ||||||
| Total Consumer Finance | 56,378,654 | |||||||
| Entertainment - 10.9% | ||||||||
| ROBLOX Corp., Class A* | 667,374 | 34,516,583 | ||||||
| Roku, Inc.* | 470,704 | 30,162,712 | ||||||
| Sea Ltd. (Singapore)*(a) | 184,590 | 17,360,690 | ||||||
| Spotify Technology SA* | 38,551 | 14,845,990 | ||||||
| Total Entertainment | 96,885,975 | |||||||
| Financial Services - 17.6% | ||||||||
| Adyen NV (Netherlands)*(b) | 22,667 | 34,676,198 | ||||||
| AvidXchange Holdings, Inc.* | 1,143,155 | 9,419,597 | ||||||
| Block, Inc.* | 779,912 | 56,403,236 | ||||||
| PayPal Holdings, Inc.* | 182,984 | 14,510,631 | ||||||
| Toast, Inc., Class A* | 1,379,099 | 41,414,343 | ||||||
| Total Financial Services | 156,424,005 | |||||||
| Hotels, Restaurants & Leisure - 4.8% | ||||||||
| DraftKings, Inc., Class A* | 1,221,364 | 43,138,576 | ||||||
| Insurance - 2.1% | ||||||||
| Discovery Ltd. (South Africa) | 1,864,002 | 19,036,504 | ||||||
| Interactive Media & Services - 9.2% | ||||||||
| LY Corp. (Japan) | 4,923,796 | 13,591,155 | ||||||
| Meta Platforms, Inc., Class A | 46,918 | 26,629,718 | ||||||
| Pinterest, Inc., Class A* | 829,342 | 26,364,782 | ||||||
| Reddit, Inc., Class A* | 128,667 | 15,349,973 | ||||||
| Total Interactive Media & Services | 81,935,628 | |||||||
| IT Services - 8.9% | ||||||||
| Shopify, Inc., Class A (Canada)* | 1,012,199 | 79,164,084 | ||||||
| Media - 0.7% | ||||||||
| Ibotta, Inc., Class A* | 80,265 | 5,882,622 | ||||||
| Real Estate Management & Development - 1.0% | ||||||||
| Zillow Group, Inc., Class C* | 149,870 | 9,005,688 | ||||||
| Semiconductors & Semiconductor Equipment - 1.5% | ||||||||
| NVIDIA Corp. | 97,700 | 12,970,652 | ||||||
| Investments | Shares | Value | ||||||
| Software - 10.1% | ||||||||
| BILL Holdings Inc* | 178,255 | $ | 10,402,962 | |||||
| Crowdstrike Holdings, Inc., Class A* | 40,760 | 12,100,421 | ||||||
| Intuit, Inc. | 22,911 | 13,982,583 | ||||||
| Palantir Technologies, Inc., Class A* | 740,297 | 30,752,673 | ||||||
| UiPath, Inc., Class A* | 1,801,348 | 22,264,661 | ||||||
| Total Software | 89,503,300 | |||||||
| Total Common Stocks | ||||||||
| (Cost $917,231,091) | 838,267,597 | |||||||
| EXCHANGE - TRADED FUNDS–5.7% | ||||||||
| Financial Services - 5.7% | ||||||||
| 3iQ Ether Staking ETF (Canada)* | 617,395 | 6,114,753 | ||||||
| ARK 21 Shares Bitcoin ETF† | 636,601 | 44,472,946 | ||||||
| Total Financial Services | 50,587,699 | |||||||
| Total Exchange - Traded Funds | ||||||||
| (Cost $48,127,038) | 50,587,699 | |||||||
| MONEY MARKET FUND–0.3% | ||||||||
| Goldman Sachs Financial Square Treasury Obligations Fund, 4.74% (c) | ||||||||
| (Cost $2,605,649) | 2,605,649 | 2,605,649 | ||||||
| Total Investments–100.2% | ||||||||
| (Cost $967,963,778) | 891,460,945 | |||||||
| Liabilities in Excess of Other Assets–(0.2)% | (1,450,648 | ) | ||||||
| Net Assets–100.0% | $ | 890,010,297 | ||||||
| † | Affiliated security |
| * | Non-income producing security |
| (a) | American Depositary Receipt |
| (b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
| (c) | Rate shown represents annualized 7-day yield as of October 31, 2024. |
Schedule of Investments (Continued)
ARK Fintech Innovation 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 Fund — 5.0% | |||||||||||||||||||||||||||||||||||
| Financial Services — 5.0% | |||||||||||||||||||||||||||||||||||
| ARK 21 Shares Bitcoin ETF | |||||||||||||||||||||||||||||||||||
| 41,050,779 | 462,420 | – | – | 2,959,747 | – | – | 636,601 | 44,472,946 | |||||||||||||||||||||||||||
| $ | 41,050,779 | $ | 462,420 | $ | – | $ | – | $ | 2,959,747 | $ | – | $ | – | 636,601 | $ | 44,472,946 | |||||||||||||||||||
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 Fintech Innovation ETF | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Assets | ||||||||||||||||
| Common Stocks‡ | $ | 838,267,597 | $ | – | $ | – | $ | 838,267,597 | ||||||||
| Exchange - Traded Funds | $ | 50,587,699 | $ | – | $ | – | $ | 50,587,699 | ||||||||
| Money Market Fund | 2,605,649 | – | – | 2,605,649 | ||||||||||||
| Total | $ | 891,460,945 | $ | – | $ | – | $ | 891,460,945 | ||||||||
| ‡ | Please refer to the Schedule of Investments to view securities segregated by industry type. |
