| Amplify Inflation Fighter ETF | ||||||||
| Consolidated Schedule of Investments | ||||||||
| as of January 31, 2024 (Unaudited) | ||||||||
COMMON STOCKS – 84.5% | Shares | Value | ||||||
| Consumer Discretionary – 16.8% | ||||||||
Airbnb, Inc. - Class A(a) | 539 | $ | 77,691 | |||||
| Century Communities, Inc. | 2,125 | 184,238 | ||||||
| DR Horton, Inc. | 903 | 129,048 | ||||||
Green Brick Partners, Inc.(a) | 4,188 | 218,488 | ||||||
| Lennar Corp. - Class A | 628 | 94,106 | ||||||
LGI Homes, Inc.(a) | 927 | 109,395 | ||||||
M/I Homes, Inc.(a) | 1,795 | 228,719 | ||||||
| MDC Holdings, Inc. | 2,449 | 153,258 | ||||||
| PulteGroup, Inc. | 1,256 | 131,327 | ||||||
Tri Pointe Homes, Inc.(a) | 3,051 | 105,351 | ||||||
1,431,621 | ||||||||
| Consumer Staples – 1.4% | ||||||||
| Alico, Inc. | 4,041 | 118,967 | ||||||
| Energy – 22.0% | ||||||||
Antero Resources Corp.(a) | 4,421 | 98,765 | ||||||
| Cameco Corp. | 6,728 | 321,224 | ||||||
Denison Mines Corp.(a) | 63,048 | 126,617 | ||||||
Energy Fuels, Inc.(a)(b) | 12,821 | 96,799 | ||||||
NexGen Energy Ltd.(a) | 18,845 | 144,374 | ||||||
| Ovintiv, Inc. | 1,348 | 57,182 | ||||||
| Petroleo Brasileiro SA - ADR | 5,384 | 91,905 | ||||||
| Phillips 66 | 672 | 96,976 | ||||||
| Shell PLC - ADR | 1,256 | 79,015 | ||||||
| Suncor Energy, Inc. | 6,464 | 214,087 | ||||||
| Texas Pacific Land Corp. | 90 | 131,520 | ||||||
Uranium Energy Corp.(a) | 53,471 | 408,519 | ||||||
1,866,983 | ||||||||
| Financials – 0.6% | ||||||||
LendingTree, Inc.(a) | 1,497 | 48,413 | ||||||
| Information Technology – 2.4% | ||||||||
| Entegris, Inc. | 655 | 77,094 | ||||||
| QUALCOMM, Inc. | 877 | 130,243 | ||||||
207,337 | ||||||||
| Materials – 16.7% | ||||||||
| Alcoa Corp. | 3,590 | 106,803 | ||||||
| Franco-Nevada Corp. | 789 | 85,409 | ||||||
| Nucor Corp. | 1,256 | 234,783 | ||||||
| Osisko Gold Royalties Ltd. | 8,708 | 126,788 | ||||||
POSCO Holdings, Inc. - ADR(b) | 1,675 | 130,650 | ||||||
| Rio Tinto PLC - ADR | 2,051 | 142,073 | ||||||
| Royal Gold, Inc. | 1,174 | 134,294 | ||||||
| United States Steel Corp. | 2,692 | 126,578 | ||||||
| Vale SA - ADR | 6,525 | 89,327 | ||||||
| Wheaton Precious Metals Corp. | 5,289 | 247,896 | ||||||
1,424,601 | ||||||||
| Real Estate – 24.6% | ||||||||
Farmland Partners, Inc.(c) | 15,902 | 178,420 | ||||||
Five Point Holdings LLC - Class A(a) | 20,091 | 70,118 | ||||||
Forestar Group, Inc.(a) | 7,047 | 220,289 | ||||||
FRP Holdings, Inc.(a) | 2,184 | 126,890 | ||||||
Gladstone Land Corp.(c) | 9,546 | 135,171 | ||||||
Howard Hughes Holdings, Inc.(a) | 2,178 | 174,414 | ||||||
| Kennedy-Wilson Holdings, Inc. | 5,491 | 57,381 | ||||||
| Morguard Corp. | 833 | 69,449 | ||||||
PotlatchDeltic Corp.(c) | 3,406 | 152,350 | ||||||
Rayonier, Inc.(c) | 5,502 | 166,711 | ||||||
Redfin Corp.(a) | 3,379 | 27,573 | ||||||
Stratus Properties, Inc.(a) | 2,685 | 61,755 | ||||||
Tejon Ranch Co.(a) | 7,086 | 111,817 | ||||||
| The St Joe Co. | 4,282 | 236,367 | ||||||
Weyerhaeuser Co.(c) | 6,996 | 229,260 | ||||||
Zillow Group, Inc. - Class C(a) | 1,294 | 73,551 | ||||||
2,091,516 | ||||||||
TOTAL COMMON STOCKS (Cost $7,107,124) | 7,189,438 | |||||||
U.S. TREASURY OBLIGATIONS – 7.9% | Par | |||||||
| United States Treasury Notes | ||||||||
5.22%, 04/30/2024(d) | 225,000 | 224,922 | ||||||
5.33%, 07/31/2024(d) | 225,000 | 224,888 | ||||||
5.43%, 10/31/2024(d) | 225,000 | 224,957 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS (Cost $674,593) | 674,767 | |||||||
| SHORT-TERM INVESTMENTS - 4.0% | Shares | |||||||
Investments Purchased with Proceeds from Securities Lending - 2.7% | ||||||||
First American Government Obligations Fund - Class X, 5.18%(e) | 231,844 | 231,844 | ||||||
Money Market Funds – 1.3% | ||||||||
Invesco Government & Agency Portfolio - Class Institutional, 5.25%(e) | 111,163 | 111,163 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $343,007) | 343,007 | |||||||
TOTAL INVESTMENTS – 96.4% (Cost $8,124,724) | $ | 8,207,212 | ||||||
Other Assets in Excess of Liabilities – 3.6% | 302,278 | |||||||
| TOTAL NET ASSETS - 100.0% | $ | 8,509,490 | ||||||
| Percentages are stated as a percent of net assets. | ||||||||
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services. | ||||||||
| ADR - American Depositary Receipt |
| PLC - Public Limited Company |
| SA - Sociedad Anónima |
| (a) | Non-income producing security. |
| (b) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $220,564 which represented 2.6% of net assets. |
| (c) | Real Estate Investment Trust. |
| (d) | All or a portion of this security is held as collateral for the open futures. At January 31, 2024, the value of these securities amounted to $674,767 or 7.9% of net assets. |
| (e) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
Amplify Inflation Fighter ETF
Consolidated Schedule of Open Contracts
January 31, 2024 (Unaudited)
| Number of Contracts | Description | Long/Short | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) | |||||||
| 110 | Micro Bitcoin | Long | February 2024 | 470,965 | 22,233 | |||||||
| 36 | Micro Gold | Long | April 2024 | 744,264 | 8,642 | |||||||
| $ | 30,875 | |||||||||||
Security Valuation
In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The following describes the levels of the fair value hierarchy:
Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;
Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and
Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).
The valuation techniques used by the Funds to measure fair value for the period ended January 31, 2024 maximized the use of observable inputs and minimized the use of unobservable inputs.
For the period ended January 31, 2024, there have been no significant changes to the Funds’ fair valuation methodologies.
Common stocks, preferred stock, and other equity securities listed on any national or foreign exchange (excluding Nasdaq) and the London Stock Exchange Alternative Investment Market (“AIM”) will be valued at the last price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the exchange representing the principal market for such securities. Foreign securities and other assets denominated in foreign currencies are translated into U.S. dollars at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies shall be valued at the investment company’s applicable NAV, with the exception of exchange-traded open-end and closed-end investment companies which are priced as equity securities. Exchange-traded options will be valued at the current mean price where such contracts are principally traded. Securities traded in the over-the-counter market are valued at the mean of the bid and the asked price, if available, and otherwise at their closing bid price. Fixed income securities will be valued at the mean price. Fixed income securities having a remaining maturity of 60 days or less when purchased will be valued at the current market price. If there is no current market available then the securities will be valued at cost and adjusted for amortization of premiums and accretions of discounts. Swaps will be valued by using the market close price of the underlying holdings. Futures contracts will be valued at the settlement price. If there is no current market price available, then the securities will be valued at the last trade price.
The Trust’s Valuation Procedures provide for the designation of the Adviser as “Valuation Designee”. If no quotation is available from either a pricing service, or one or more brokers or there is reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith, by the Valuation Designee pursuant to procedures established by the Funds’ Board of Trustees (the “Board”).
The following is a summary of the fair valuations according to the inputs used to value the Funds’ investments as of January 31, 2024:
| Amplify Inflation Fighter ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Common Stocks | $ | 7,189,438 | $ | – | $ | – | $ | 7,189,438 | ||||||||
| U.S. Treasury Obligations | – | 674,767 | – | 674,767 | ||||||||||||
| Investments Purchased with Proceeds from Securities Lending | 231,844 | – | – | 231,844 | ||||||||||||
| Money Market Funds | 111,163 | – | – | 111,163 | ||||||||||||
| Total Assets | $ | 7,532,445 | $ | 674,767 | $ | – | $ | 8,207,212 | ||||||||
| Other Financial Instruments:* | ||||||||||||||||
| Assets | ||||||||||||||||
| Futures Contracts | $ | 30,875 | $ | - | $ | – | $ | 30,875 | ||||||||
| Total Assets | $ | 30,875 | $ | - | $ | – | $ | 30,875 | ||||||||
| * The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of January 31, 2024. | ||||||||||||||||
| Refer to the Schedule of Investments for industry classifications. | ||||||||||||||||