Amplify Seymour Cannabis ETF
 
Schedule of Investments
 
January 31, 2021 (Unaudited)
 
             
Description
 
Shares
   
Value
 
             
COMMON STOCKS - 100.0%
           
Consumer Discretionary - 4.3%
           
GrowGeneration Corp. (a) (b)
   
54,331
   
$
2,346,556
 
Consumer Staples - 10.5%
               
Neptune Wellness Solutions, Inc. (a) (b)
   
641,080
     
1,141,122
 
Village Farms International, Inc. (a) (b)
   
389,643
     
4,605,580
 
             
5,746,702
 
Financials - 12.2%
               
Canopy Rivers, Inc. (a)
   
1,701,124
     
2,474,362
 
Silver Spike Acquisition Corp. - Class A (a) (c)
   
223,162
     
4,249,005
 
             
6,723,367
 
Health Care - 63.4%
               
Aleafia Health, Inc. (a) (b)
   
29,516
     
16,388
 
Aphria, Inc. (a) (b)
   
421,036
     
5,119,930
 
Arena Pharmaceuticals, Inc. (a)
   
8,181
     
607,357
 
Auxly Cannabis Group, Inc. (a)
   
1,143,557
     
263,812
 
Canopy Growth Corp. (a)
   
185,576
     
7,436,030
 
Cara Therapeutics, Inc. (a)
   
68,497
     
1,280,894
 
cbdMD, Inc. (a)
   
243,225
     
851,288
 
Charlotte's Web Holdings, Inc. (a) (b)
   
375,906
     
1,508,033
 
Clever Leaves Holdings, Inc. (a)
   
165,704
     
1,474,766
 
Cronos Group, Inc. (a) (b)
   
254,512
     
2,634,199
 
GW Pharmaceuticals PLC - ADR (a) (b)
   
36,919
     
5,629,040
 
MediPharm Labs Corp. (a)
   
765,200
     
394,942
 
Organigram Holdings, Inc. (a)
   
1,293,064
     
2,366,307
 
PerkinElmer, Inc.
   
9,524
     
1,400,695
 
Sundial Growers, Inc. (a)
   
1,383,155
     
1,127,271
 
Tilray, Inc. (a) (b)
   
117,962
     
2,135,112
 
Zynerba Pharmaceuticals, Inc. (a)
   
143,632
     
501,276
 
             
34,747,340
 
Industrials - 5.0%
               
Akerna Corp. (a)
   
20,163
     
117,349
 
Hydrofarm Holdings Group, Inc. (a)
   
34,750
     
2,623,972
 
             
2,741,321
 
Real Estate - 4.6%
               
Innovative Industrial Properties, Inc. (b) (d)
   
13,432
     
2,513,396
 
Total Common Stocks (Cost $43,722,534)
           
54,818,682
 
Total Investments - 100.0%
               
(Cost $43,722,534)
         
$
54,818,682
 

Percentages are based on Net Assets of $54,828,107.
ADR -
American Depositary Receipt
(a)
Non-income producing security.
(b)
All or a portion of this security is out on loan as of January 31. 2021. Total value of securities out on loan is $7,694,264 or 14.0% of net assets. As of January 31, 2021, total cash collateral has a value of $7,819,264.
(c)
Special Purpose Acquisition Company.
(d)
Real Estate Investment Trust.
                     
For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition may not apply for purposes of this report, which may combine sub-classifications for reporting ease. Industries are shown as a percentage of net assets.
                     
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”). GICS® is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund’s Administrator, U.S. Bancorp Fund Services, LLC.

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 year/period ended January 31, 2021 maximized the use of observable inputs and minimized the use of unobservable inputs.
                     
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 using 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 price available then the securities will be valued at cost and adjusted for amortization of premiums and accretions of discounts.
 
If no quotation is available from either a pricing service, or one or more brokers or if the pricing committee has reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith by the pricing committee, pursuant to procedures established under the general supervision and responsibility of the Fund’s Board of Trustees (the “Board”).
 
The following is a summary of the fair valuations according to the inputs used to value the Fund's investments as of January 31, 2021:

 
Category
                   
 
Investments in Securities
                   
 
Assets
                   
 
Level 1
                   
 
Common Stocks
                   
 
Britain
  $
                                           5,629,040
             
 
Canada
   
                                           31,189,822
             
 
United States
   
                                           17,999,820
             
 
Total Level 1
   
                                           54,818,682
             
 
Level 2
                   
 
Total Level 2
   
                                                          -
             
 
Level 3
   
                                                          -
             
 
Total Level 3
   
                                                          -
             
 
Total
  $
                                         54,818,682
             
                       
See the Schedules of Investments for further disaggregation of investment categories.
                       
For the period ended January 31, 2021, there were no transfers into or out of Level 3 for the Fund.
                       
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, 2021, 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.