GraniteShares ETF Trut
Schedules of Investments
GraniteShares HIPS U.S. High Income ETF
September 30, 2021 (Unaudited)
Investments | Shares | Value | ||||||
COMMON STOCKS - 47.96% | ||||||||
Capital Markets - 15.87% AllianceBernstein Holding LP(a) | 17,584 | $ | 871,814 | |||||
Apollo Global Management, Inc. | 12,188 | 750,659 | ||||||
Ares Capital Corp. | 35,790 | 727,611 | ||||||
Artisan Partners Asset Management, Inc., Class A | 11,815 | 577,990 | ||||||
Bain Capital Specialty Finance, Inc. | 46,807 | 694,616 | ||||||
Franklin Resources, Inc. | 23,725 | 705,107 | ||||||
FS KKR Capital Corp. | 35,252 | 776,954 | ||||||
Golub Capital BDC, Inc. | 42,533 | 672,447 | ||||||
Hercules Capital, Inc. | 40,960 | 680,346 | ||||||
Main Street Capital Corp. | 18,855 | 774,941 | ||||||
New Mountain Finance Corp. | 51,532 | 685,891 | ||||||
Oaktree Specialty Lending Corp. | 107,108 | 756,182 | ||||||
Owl Rock Capital Corp. | 45,116 | 637,038 | ||||||
Prospect Capital Corp. | 107,501 | 827,757 | ||||||
Sixth Street Specialty Lending, Inc. | 28,424 | 631,297 | ||||||
Total Capital Markets | 10,770,650 | |||||||
Energy Equipment & Services - 1.11% USA Compression Partners LP(a) | 45,254 | 749,859 | ||||||
Equity Real Estate Investment Trust (REIT) - 7.80% | ||||||||
Alexander’s, Inc. | 2,153 | 561,115 | ||||||
Brandywine Realty Trust | 49,953 | 670,369 | ||||||
Columbia Property Trust, Inc. | 41,160 | 782,863 | ||||||
GEO Group, Inc. (The) | 66,624 | 497,681 | ||||||
Global Net Lease, Inc. | 35,022 | 561,052 | ||||||
Iron Mountain, Inc. | 19,917 | 865,394 | ||||||
Office Properties Income Trust | 25,983 | 658,149 | ||||||
Spirit Realty Capital, Inc. | 14,826 | 682,589 | ||||||
Total Equity Real Estate Investment Trust (REIT) | 5,279,212 | |||||||
Mortgage Real Estate Investment Trust (REIT) - 7.06% | ||||||||
AGNC Investment Corp. | 37,457 | 590,697 | ||||||
Annaly Capital Management, Inc. | 69,298 | 583,489 | ||||||
Arbor Realty Trust, Inc. | 41,598 | 770,811 | ||||||
Blackstone Mortgage Trust, Inc., Class A | 20,674 | 626,836 | ||||||
Chimera Investment Corp. | 55,216 | 819,958 | ||||||
KKR Real Estate Finance Trust, Inc. | 31,899 | 673,069 | ||||||
Starwood Property Trust, Inc. | 29,780 | 726,930 | ||||||
Total Mortgage Real Estate Investment Trust (REIT) | 4,791,790 | |||||||
Oil, Gas & Consumable Fuels - 16.12% | ||||||||
Antero Midstream Corp. | 69,544 | 724,648 | ||||||
Black Stone Minerals LP(a) | 83,731 | 1,008,958 | ||||||
BP Midstream Partners LP(a) | 55,477 | 735,070 | ||||||
DCP Midstream LP(a) | 31,371 | 885,603 | ||||||
Delek Logistics Partners LP(a) | 19,690 | 890,580 | ||||||
Energy Transfer LP(a) | 90,024 | 862,430 | ||||||
Equitrans Midstream Corp. | 72,196 | 732,067 | ||||||
Holly Energy Partners LP(a) | 42,288 | 775,139 | ||||||
MPLX LP(a) | 26,619 | 757,843 |
Investments | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) Phillips 66 Partners LP(a) | 21,407 | $ | 767,441 | |||||
Plains All American Pipeline LP(a) | 65,362 | 664,732 | ||||||
Plains GP Holdings LP, Class A | 63,523 | 684,460 | ||||||
Shell Midstream Partners LP(a) | 58,000 | 682,660 | ||||||
Sunoco LP(a) | 20,437 | 762,709 | ||||||
Total Oil, Gas & Consumable Fuels | 10,934,340 | |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $29,068,268) | 32,525,851 | |||||||
INVESTMENT COMPANIES - 51.72% | ||||||||
Aberdeen Asia-Pacific Income Fund, Inc. | 491,362 | 2,039,152 | ||||||
Aberdeen Total Dynamic Dividend Fund | 244,842 | 2,384,761 | ||||||
BlackRock Debt Strategies Fund, Inc. | 211,203 | 2,437,283 | ||||||
BlackRock Enhanced Equity Dividend Trust | 256,822 | 2,516,856 | ||||||
BlackRock Enhanced Global Dividend Trust | 203,419 | 2,382,036 | ||||||
BlackRock Multi-Sector Income Trust | 127,347 | 2,382,662 | ||||||
Blackstone Strategic Credit Fund | 173,004 | 2,396,105 | ||||||
BNY Mellon High Yield Strategies Fund | 717,388 | 2,317,163 | ||||||
Eaton Vance, Ltd. Duration Income Fund | 175,115 | 2,308,016 | ||||||
Invesco Dynamic Credit Opportunities Fund | 206,740 | 2,418,858 | ||||||
Nuveen S&P 500 Buy-Write Income Fund | 171,898 | 2,446,109 | ||||||
PGIM Global High Yield Fund, Inc. | 147,915 | 2,277,891 | ||||||
PGIM High Yield Bond Fund, Inc. | 142,812 | 2,319,267 | ||||||
Tekla Healthcare Investors | 90,694 | 2,319,046 | ||||||
Western Asset Emerging Markets Debt Fund, Inc. | 157,322 | 2,139,579 | ||||||
TOTAL INVESTMENT COMPANIES | ||||||||
(Cost $33,852,388) | 35,084,784 | |||||||
TOTAL INVESTMENTS - 99.68% | ||||||||
(Cost $62,920,656) | $ | 67,610,635 | ||||||
Other Assets In Excess Of Liabilities - 0.32% | 213,749 | |||||||
NET ASSETS (100.00%) | $ | 67,824,384 |
(a)Master Limited Partnership (“MLP”).
The following table summarizes valuation of the Fund’s investments under the fair value hierarchy levels as of September 30, 2021:
GraniteShares HIPS U.S. High Income ETF Investments in Securities at Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks | $ | 32,525,851 | $ | – | $ | – | $ | 32,525,851 | ||||||||
Investment Companies | 35,084,784 | – | – | 35,084,784 | ||||||||||||
Total | $ | 67,610,635 | $ | – | $ | – | $ | 67,610,635 |
As of September 30, 2021, there were no Level 3 investments held in the Fund.
GraniteShares ETF Trut
Schedules of Investments
GraniteShares ETF Trust
Notes to Quarterly Schedules of Investments
September 30, 2021 (Unaudited)
1. FAIR VALUE MEASUREMENT
The Financial Accounting Standards Board (FASB) established a framework for measuring fair value in accordance with U.S. GAAP. Under Fair Value Measurements and Disclosures, various inputs are used in determining the value of the exchange traded fund’s investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The three Levels of inputs of the fair value hierarchy are defined as follows:
Level 1 – | Unadjusted quoted prices in active markets for identical assets or liabilities. |
Level 2 – | Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
Level 3 – | Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
The hierarchy classification of inputs used to value each Fund’s investments is disclosed at the end of the Fund’s Schedule of Investments.