GUINNESS ATKINSON GLOBAL INNOVATORS FUND
Schedule of Investments
at September 30, 2022 (Unaudited)
| | | | | | | |
| Shares | | | Common Stocks: 99.2% | | Value | |
| | | | | Application Software: 13.7% | | | | |
| | 13,003 | | | Intuit Inc. | | $ | 5,036,322 | |
| | 21,923 | | | Microsoft Corp. | | | 5,105,867 | |
| | 29,653 | | | Salesforce Inc.* | | | 4,265,287 | |
| | 48,037 | | | Zoom Video Communications | | | 3,535,043 | |
| | | | | | | | 17,942,519 | |
| | | | | | | | | |
| | | | | Athletic Footwear: 2.7% | | | | |
| | 42,783 | | | NIKE Inc. | | | 3,556,123 | |
| | | | | | | | | |
| | | | | Cable/Satellite TV: 2.5% | | | | |
| | 113,354 | | | Comcast Corp. - Class A | | | 3,324,673 | |
| | | | | | | | | |
| | | | | Commercial Services: 4.2% | | | | |
| | 63,430 | | | PayPal Holdings, Inc.* | | | 5,459,420 | |
| | | | | | | | | |
| | | | | Computers: 3.6% | | | | |
| | 33,467 | | | Apple Inc. | | | 4,625,140 | |
| | | | | | | | | |
| | | | | Diversified Manufacturing Operations: 8.2% | | | | |
| | 20,423 | | | Danaher Corp. | | | 5,275,057 | |
| | 10,782 | | | Thermo Fisher Scientific Inc. | | | 5,468,522 | |
| | | | | | | | 10,743,579 | |
| | | | | E-Commerce: 3.2% | | | | |
| | 37,552 | | | Amazon.com Inc.* | | | 4,243,376 | |
| | | | | | | | | |
| | | | | Electronic Components - Semiconductor: 8.8% | | | | |
| | 82,273 | | | Amphenol Corporation | | | 5,509,000 | |
| | 149,272 | | | Infineon Technologies AG | | | 3,256,266 | |
| | 22,250 | | | NVIDIA Corp. | | | 2,700,927 | |
| | | | | | | | 11,466,193 | |
| | | | | Enterprise Software/Services: 2.3% | | | | |
| | 10,753 | | | Adobe Inc.* | | | 2,959,226 | |
| | | | | | | | | |
| | | | | Finance - Other Services: 11.3% | | | | |
| | 53,279 | | | Intercontinental Exchange, Inc. | | | 4,813,758 | |
| | 17,693 | | | Mastercard Inc . | | | 5,030,828 | |
| | 27,505 | | | Visa Inc. | | | 4,886,263 | |
| | | | | | | | 14,730,849 | |
| | | | | Internet Content: 3.1% | | | | |
| | 29,951 | | | Meta Platforms Inc. - Class A* | | | 4,063,752 | |
| | | | | Machinery - Electric Utility: 3.6% | | | | |
| | 184,955 | | | ABB Ltd. | | $ | 4,727,885 | |
| | | | | | | | | |
| | | | | Machinery: 3.8% | | | | |
| | 13,729 | | | Roper Industries, Inc. | | | 4,937,497 | |
| | | | | | | | | |
| | | | | Metal Instrument: 3.0% | | | | |
| | 49,319 | | | Medtronic PLC | | | 3,982,509 | |
| | | | | | | | | |
| | | | | Pharmaceutical: 3.8% | | | | |
| | 69,120 | | | Bristol-Myers Squibb Co | | | 4,913,741 | |
| | | | | | | | | |
| | | | | Power Conversion/Supply Equipment: 3.2% | | | | |
| | 36,974 | | | Schneider Electric SE | | | 4,179,124 | |
| | | | | | | | | |
| | | | | Retail - Apparel: 2.7% | | | | |
| | 340,000 | | | ANTA Sports Products Ltd. | | | 3,578,654 | |
| | | | | | | | | |
| | | | | Semiconductor: 12.1% | | | | |
| | 46,757 | | | Applied Materials Inc. | | | 3,830,801 | |
| | 14,250 | | | KLA-Tencor Corp. | | | 4,312,477 | |
| | 10,601 | | | Lam Research Corp. | | | 3,879,966 | |
| | 55,596 | | | Taiwan Semiconductor - ADR | | | 3,811,662 | |
| | | | | | | | 15,834,906 | |
| | | | | Web Portals: 3.4% | | | | |
| | 45,820 | | | Alphabet Inc. - A Shares* | | | 4,382,683 | |
| | | | | | | | | |
| | | | | Total Common Stocks | | $ | 129,651,849 | |
| | | | | (cost $100,687,789) | | | | |
| | | | | | | | | |
| | | | | Total Investments in Securities | | | 129,651,849 | |
| | | | | (cost $100,687,789): 99.2% | | | | |
| | | | | | | | | |
| | | | | Other Assets less Liabilities: 0.8% | | | 1,116,365 | |
| | | | | | | | | |
| | | | | Net Assets: 100.0% | | $ | 130,768,214 | |
| * | Non-income producing security. |
ADR - American Depository Receipt
GDR - Global Depository Receipt
PLC - Public Limited Company
