Roundhill Cannabis ETF | ||||||||
Schedule of Investments | ||||||||
September 30, 2023 (Unaudited) | ||||||||
Shares | Value | |||||||
SHORT-TERM INVESTMENTS - 88.4% | ||||||||
Money Market Fund — 13.6% | ||||||||
First American Government Obligations Fund, Class X, 5.26% (a) | 476,040 | $ | 476,040 | |||||
Total Money Market Fund (Cost $476,040) | 476,040 | |||||||
U.S. Treasury Bills — 74.8% | ||||||||
5.41%, 10/03/2023 (b)(c) | 2,609,000 | 2,608,237 | ||||||
Total U.S. Treasury Bills (Cost $2,608,237) | 2,608,237 | |||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $3,084,277) | 3,084,277 | |||||||
TOTAL INVESTMENTS (Cost $3,084,277) — 88.4% | 3,084,277 | |||||||
Other assets and liabilities, net — 11.6% | 402,882 | |||||||
NET ASSETS — 100.0% | $ | 3,487,159 |
(a) | The rate shown is the seven day yield at period end. | ||||||||
(b) | The rate shown is the effective yield as of September 30, 2023. | ||||||||
(c) | Held as collateral for total return swaps. | ||||||||
Percentages are stated as a percent of net assets. | |||||||||
Percentage of Net Assets | |||||||||
SHORT-TERM INVESTMENTS | 88.4% | ||||||||
TOTAL INVESTMENTS | 88.4% | ||||||||
Other assets and liabilities, net | 11.6% | ||||||||
NET ASSETS | 100.0% |
Roundhill Cannabis ETF | ||||||||
Schedule of Total Return Swaps | ||||||||
September 30, 2023 (Unaudited) |
Long Total Return Equity Swaps | Fund Pays/Receives Reference Entity | Counterparty | Payment Frequency | Financing Rate | Expiration Date | Upfront Premiums Paid/Received | Notional Amount | Value/Unrealized Appreciation (Depreciation) | |||||||||
Cresco Labs, Inc. Swap | Receives | Nomura Securities International, Inc. | Monthly | Overnight Bank Funding Rate Index + 1.50% | June 20, 2024 | - | 370,818 | - | |||||||||
Curaleaf Holdings, Inc. Swap | Receives | Nomura Securities International, Inc. | Monthly | Overnight Bank Funding Rate Index + 1.50% | June 20, 2024 | - | 1,166,847 | - | |||||||||
Green Thumb Industries, Inc. Swap | Receives | Nomura Securities International, Inc. | Monthly | Overnight Bank Funding Rate Index + 1.50% | June 20, 2024 | - | 1,027,043 | - | |||||||||
Trulieve Cannabis Corp. Swap | Receives | Nomura Securities International, Inc. | Monthly | Overnight Bank Funding Rate Index + 1.50% | June 20, 2024 | - | 416,258 | - | |||||||||
Verano Holdings Corp. Swap | Receives | Nomura Securities International, Inc. | Monthly | Overnight Bank Funding Rate Index + 1.50% | June 20, 2024 | - | 504,094 | - | |||||||||
$ | - | $ | 3,485,060 | $ | - |
Fair Value Measurements | |||||||||
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. | |||||||||
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs | |||||||||
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant | |||||||||
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the | |||||||||
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. | |||||||||
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3. | |||||||||
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of September 30, 2023: |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments - Assets: | ||||||||||||||||
Money Market Fund | $ | 476,040 | $ | - | $ | - | $ | 476,040 | ||||||||
U.S. Treasury Bills | - | 2,608,237 | - | 2,608,237 | ||||||||||||
Total Investments - Assets | $ | 476,040 | $ | 2,608,237 | $ | - | $ | 3,084,277 | ||||||||
Swap Contracts* | ||||||||||||||||
Long Total Return Equity Swap Contracts | $ | - | $ | - | $ | - | $ | - | ||||||||
Total Swap Contracts | $ | - | $ | - | $ | - | $ | - |
* Swap contracts are derivative instruments, which are presented at the unrealized appreciation/depreciation on the instrument. | ||||||