| Amplify Seymour Cannabis ETF | ||||||||
| Schedule of Investments | ||||||||
| January 31, 2024 (Unaudited) | ||||||||
COMMON STOCKS - 35.1% | Shares | Value | ||||||
| Consumer Discretionary - 3.7% | ||||||||
GrowGeneration Corp.(a) | 515,694 | $ | 1,191,253 | |||||
| Consumer Staples - 1.5% | ||||||||
Neptune Wellness Solutions, Inc.(a)(b) | 0 | 0 | ||||||
Village Farms International, Inc.(a)(c) | 580,778 | 493,661 | ||||||
493,661 | ||||||||
| Financials - 2.0% | ||||||||
| Silver Spike Investment Corp. | 82,918 | 638,469 | ||||||
| Health Care - 19.1% | ||||||||
Aleafia Health, Inc.(a)(b)(d) | 80,872 | 0 | ||||||
Auxly Cannabis Group, Inc.(a) | 3,137,044 | 35,000 | ||||||
Canopy Growth Corp.(a)(c) | 36,276 | 169,409 | ||||||
Cara Therapeutics, Inc.(a) | 65,538 | 37,068 | ||||||
cbdMD, Inc.(a) | 1 | 1 | ||||||
Charlotte's Web Holdings, Inc.(a)(c) | 1,102,907 | 196,882 | ||||||
Clever Leaves Holdings, Inc.(a) | 5,093 | 13,242 | ||||||
Cronos Group, Inc.(a) | 595,463 | 1,190,926 | ||||||
Jazz Pharmaceuticals PLC(a) | 553 | 67,864 | ||||||
MediPharm Labs Corp.(a) | 2,927,844 | 152,441 | ||||||
Organigram Holdings, Inc.(a)(c) | 169,800 | 281,868 | ||||||
SNDL, Inc.(a) | 298,791 | 397,392 | ||||||
TerrAscend Corp.(a) | 780,700 | 1,550,425 | ||||||
Tilray Brands, Inc.(a)(c) | 1,168,784 | 2,138,874 | ||||||
6,231,392 | ||||||||
| Industrials - 0.5% | ||||||||
Hydrofarm Holdings Group, Inc.(a) | 171,646 | 169,930 | ||||||
| Information Technology - 3.0% | ||||||||
Akerna Corp.(a) | 1 | 0 | ||||||
WM Technology, Inc.(a) | 1,214,393 | 984,873 | ||||||
984,873 | ||||||||
| Real Estate - 5.3% | ||||||||
Innovative Industrial Properties, Inc.(e) | 18,424 | 1,717,669 | ||||||
TOTAL COMMON STOCKS (Cost $70,058,802) | 11,427,247 | |||||||
RIGHTS - 0.0%(f) | Contracts | |||||||
Harmony Biosciences Holdings, Inc.(a)(d) | 220,858 | 0 | ||||||
TOTAL RIGHTS (Cost $0) | 0 | |||||||
| SHORT-TERM INVESTMENTS - 21.1% | ||||||||
Investments Purchased with Proceeds from Securities Lending - 9.1% | ||||||||
First American Government Obligations Fund - Class X, 5.18%(g) | 2,979,665 | 2,979,665 | ||||||
Money Market Funds - 12.0% | ||||||||
Invesco Government & Agency Portfolio – Institutional Class, 5.25%(g) | 3,906,469 | 3,906,469 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $6,886,134) | 6,886,134 | |||||||
TOTAL INVESTMENTS - 56.2% (Cost $76,944,936) | 18,313,381 | |||||||
| Other Assets in Excess of Liabilities - 43.8% | 14,252,592 | |||||||
| TOTAL NET ASSETS - 100.0% | $ | 32,565,973 | ||||||
| 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. | |
| PLC - Public Limited Company |
| (a) | Non-income producing security. |
| (b) | Less than $0.50. |
| (c) | All or a portion of this security is on loan as of January 31, 2024. The total market value of these securities was $2,619,923 which represented 8.0% of net assets. |
| (d) | Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of January 31, 2024. |
| (e) | Real Estate Investment Trust. |
| (f) | Represents less than 0.05% of net assets. |
| (g) | The rate shown represents the 7-day effective yield as of January 31, 2024. |
Amplify Seymour Cannabis ETF
Schedule of Total Return Swaps
January 31, 2024 (Unaudited)
| Reference Index | Counterparty | Long/Short | Expiration Date | Financing Rate (a) | Payment Frequency | Notional Amount | Value/Unrealized Appreciation (Depreciation) | |||||||||
| Ayr Wellness, Inc. | Nomura Global Financing Productions, Inc. | Long | 5/28/2024 | 6.81 | Monthly | $ | 847,394 | $ | 117,443 | |||||||
| Cannabist Company | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 13,808 | (13,471 | ) | ||||||||
| Cresco Lab, Inc. | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 2,142,004 | (94,500 | ) | ||||||||
| Curaleaf Holdings, Inc. | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 4,435,981 | 322,309 | |||||||||
| Green Thumb Industries, Inc. | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 5,180,030 | 35,345 | |||||||||
| Truelieve Cannabis Corp. | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 4,054,254 | 1,092,697 | |||||||||
| Verano Holdings Corp. | Nomura Global Financing Productions, Inc | Long | 5/28/2024 | 6.81 | Monthly | 3,278,517 | 372,808 | |||||||||
$ | 1,832,631 | |||||||||||||||
| (a) | Financing rate based on the overnight bank rate plus a spread of 150 basis points and is reset monthly. |
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 Seymour Cannabis ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Common Stocks | ||||||||||||||||
| Consumer Discretionary | $ | 1,191,253 | $ | – | $ | – | $ | 1,191,253 | ||||||||
| Consumer Staples | 493,661 | – | – | 493,661 | ||||||||||||
| Financials | 638,469 | – | – | 638,469 | ||||||||||||
| Health Care | 6,231,392 | – | 0 | 6,231,392 | ||||||||||||
| Industrials | 169,930 | – | – | 169,930 | ||||||||||||
| Information Technology | 984,873 | – | – | 984,873 | ||||||||||||
| Real Estate | 1,717,669 | – | – | 1,717,669 | ||||||||||||
| Common Stocks - Total | $ | 11,427,247 | $ | – | $ | – | $ | 11,427,247 | ||||||||
| Rights | – | – | 0 | – | ||||||||||||
| Investments Purchased with Proceeds from Securities Lending | 2,979,665 | – | – | 2,979,665 | ||||||||||||
| Money Market Funds | 3,906,469 | – | – | 3,906,469 | ||||||||||||
| Total Assets | $ | 18,313,381 | $ | – | $ | 0 | $ | 18,313,381 | ||||||||
| Other Financial Instruments:* | ||||||||||||||||
| Assets | ||||||||||||||||
| Total Return Swaps | $ | – | $ | 1,940,602 | $ | – | $ | 1,940,602 | ||||||||
| Total Assets | $ | – | $ | 1,940,602 | $ | – | $ | 1,940,602 | ||||||||
| Liabilities | ||||||||||||||||
| Total Return Swaps | $ | – | $ | 107,971 | $ | – | $ | 107,971 | ||||||||
| Total Liabilities | $ | – | $ | 107,971 | $ | – | $ | 107,971 | ||||||||
| * 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. | ||||||||||||||||
Secured Borrowings (Unaudited)
The Funds adopted guidance requiring entities to present gross obligations for secured borrowings by the type of collateral pledged and remaining time to maturity.
As of January 31, 2024, the Fund had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Fund could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Fund is indemnified from this risk by contract with the Securities Lending Agent.