GUINNESS ATKINSON ALTERNATIVE ENERGY FUND
Schedule of Investments
at March 31, 2022 (Unaudited)
| Shares | Common Stocks: 96.6% | Value | ||||||
| Electrification: 33.9% | ||||||||
| 7,930 | APTIV PLC | $ | 949,300 | |||||
| 12,222 | Gentherm Inc.* | 892,695 | ||||||
| 28,340 | Infineon Technologies AG | 964,950 | ||||||
| 11,950 | Itron Inc.* | 629,526 | ||||||
| 27,870 | Johnson Matthey PLC | 687,936 | ||||||
| 1,650 | LG Chem Ltd. | 717,281 | ||||||
| 20,370 | ON Semiconductor Corp.* | 1,275,366 | ||||||
| 1,940 | Samsung SDI Co., Ltd. | 941,566 | ||||||
| 6,730 | Schneider Electric SE | 1,130,329 | ||||||
| 21,360 | Sensata Technologies Holding* | 1,086,156 | ||||||
| 80,000 | Tianneng Power International | 84,653 | ||||||
| 9,359,758 | ||||||||
| Energy Efficiency: 11.9% | ||||||||
| 15,460 | Ameresco PLC* | 1,229,070 | ||||||
| 5,900 | Hubbell Inc. | 1,084,243 | ||||||
| 87,330 | Nibe Industrier AB - B Shares | 970,285 | ||||||
| 3,283,598 | ||||||||
| Renewable Energy Generation: 27.0% | ||||||||
| 20,430 | Albioma SA | 994,014 | ||||||
| 529,000 | China Longyuan Power Group Corp. - H Shares | 1,189,858 | ||||||
| 1,277,000 | China Suntien Green Energy Corp. Ltd. - H Shares | 716,344 | ||||||
| 105,296 | Iberdrola SA | 1,150,693 | ||||||
| 15,480 | Nextera Energy Inc. | 1,311,311 | ||||||
| 11,369 | Ormat Technologies Inc. | 930,325 | ||||||
| 78,900 | TransAlta Renewables Inc. | 1,166,551 | ||||||
| 7,459,096 | ||||||||
| Renewal Equipment Manufacturing: 23.8% | ||||||||
| 25,150 | Canadian Solar Inc.* | 889,304 | ||||||
| 4,700 | Eaton Corp PLC | 713,272 | ||||||
| 3,350 | Enphase Energy Inc.* | 675,963 | ||||||
| 12,910 | First Solar Inc.* | 1,081,083 | ||||||
| 36,230 | Siemens Gamesa Renewable Energy SA | 632,700 | ||||||
| 2,000 | Solaredge Technologies Inc.* | 644,740 | ||||||
| 14,510 | TPI Composites Inc.* | 204,011 | ||||||
| 28,285 | Vestas Wind Systems A/S | 835,599 | ||||||
| 496,200 | Xinyi Solar Holdings Ltd. | 870,973 | ||||||
| 6,547,645 | ||||||||
| Total Common Stocks | $ | 26,650,097 | ||||||
| (cost $25,254,697) | ||||||||
| Total Investments in Securities | 26,650,097 | |||||||
| (cost $25,254,697): 96.6% | ||||||||
| Other Assets less Liabilities: 3.4% | 926,232 | |||||||
| Net Assets: 100.0% | $ | 27,576,329 |
| * | Non-income producing security. |
PLC - Public Limited Company