Amplify Online Retail ETF
 
Schedule of Investments
 
July 31, 2023 (Unaudited)
 
             
Description
 
Shares
   
Value
 
             
COMMON STOCKS - 99.9%
           
Marketplace - 40.6%
           
Adevinta ASA (a)
   
231,797
   
$
1,714,169
 
Affirm Holdings, Inc. (a)
   
454,304
     
8,808,955
 
Alibaba Group Holding Ltd. (a)
   
164,200
     
2,052,789
 
BigCommerce Holdings, Inc. (a)
   
573,872
     
6,203,556
 
Copart, Inc. (a)
   
53,524
     
4,730,986
 
Coupang, Inc. (a)
   
244,471
     
4,437,149
 
Dada Nexus Ltd. - ADR (a)
   
305,175
     
2,041,621
 
Delivery Hero SE (a) (c)
   
38,835
     
1,761,986
 
DoorDash, Inc. - Class A (a)
   
66,483
     
6,035,992
 
Etsy, Inc. (a)
   
45,591
     
4,634,325
 
Fiverr International Ltd. (a)
   
64,102
     
1,932,034
 
Global-e Online Ltd. (a)
   
56,419
     
2,541,676
 
JD.com, Inc.
   
96,450
     
1,976,267
 
Just Eat Takeaway.com NV (a) (c)
   
98,620
     
1,771,365
 
KE Holdings, Inc. - ADR (a)
   
107,738
     
1,876,796
 
Liquidity Services, Inc. (a)
   
306,218
     
5,138,338
 
Lyft, Inc. - Class A (a)
   
394,194
     
5,010,206
 
Meituan (a) (c)
   
101,000
     
1,894,665
 
MercadoLibre, Inc. (a)
   
1,391
     
1,722,128
 
Ozon Holdings PLC - ADR (a) (b) (d)
   
106,678
     
 
PayPal Holdings, Inc. (a)
   
58,670
     
4,448,359
 
PDD Holdings, Inc. - ADR (a)
   
26,140
     
2,347,895
 
Sea Ltd. - ADR (a)
   
22,857
     
1,520,448
 
Shopify, Inc. - Class A (a)
   
29,253
     
1,976,918
 
Uber Technologies, Inc. (a)
   
111,666
     
5,523,000
 
Upwork, Inc. (a)
   
524,588
     
5,471,453
 
Vivid Seats, Inc. - Class A (a) (b)
   
585,841
     
4,880,055
 
             
92,453,131
 
Traditional Retail - 48.4%
               
1-800-Flowers.com, Inc. - Class A (a)
   
559,812
     
4,859,168
 
Allegro.eu SA (a) (c)
   
215,302
     
1,898,435
 
Amazon.com, Inc. (a)
   
40,169
     
5,369,792
 
ASKUL Corp.
   
127,900
     
1,782,769
 
ASOS PLC (a)
   
211,949
     
1,144,053
 
Boozt AB (a) (c)
   
152,344
     
1,814,860
 
Carvana Co. (a) (b)
   
233,821
     
10,744,075
 
Chegg, Inc. (a)
   
446,443
     
4,522,468
 
Chewy, Inc. - Class A (a)
   
130,571
     
4,426,357
 
eBay, Inc.
   
95,271
     
4,240,512
 
Figs, Inc. - Class A (a)
   
605,107
     
4,453,588
 
HelloFresh SE (a)
   
65,283
     
1,859,794
 
Hims & Hers Health, Inc. (a)
   
362,581
     
3,252,352
 
IAC, Inc. (a)
   
79,729
     
5,549,138
 
iQIYI, Inc. - ADR (a)
   
287,004
     
1,819,605
 
Netflix, Inc. (a)
   
12,988
     
5,701,342
 
Ocado Group PLC (a)
   
275,079
     
3,312,767
 
Oisix ra daichi, Inc. (a) (b)
   
90,500
     
1,485,379
 
Overstock.com, Inc. (a)
   
210,531
     
7,678,066
 
Peloton Interactive, Inc. - Class A (a)
   
549,275
     
5,333,460
 
PetMed Express, Inc. (b)
   
293,424
     
4,298,662
 
Revolve Group, Inc. (a)
   
228,189
     
4,499,887
 
Shutterstock, Inc.
   
81,709
     
4,203,928
 
Spotify Technology SA (a)
   
11,915
     
1,780,220
 
Vipshop Holdings Ltd. - ADR (a)
   
112,105
     
2,110,937
 
Wayfair, Inc. - Class A (a)
   
114,417
     
8,909,652
 
Zalando SE (a) (c)
   
48,370
     
1,669,948
 
ZOZO, Inc.
   
78,500
     
1,529,554
 
             
110,250,768
 
Travel - 10.9%
               
Airbnb, Inc. - Class A (a)
   
35,631
     
5,422,682
 
Booking Holdings, Inc. (a)
   
1,614
     
4,794,871
 
Expedia Group, Inc. (a)
   
46,851
     
5,740,653
 
MakeMyTrip Ltd. (a)
   
67,404
     
1,939,213
 
Trip.com Group Ltd. (a)
   
50,800
     
2,028,378
 
TripAdvisor, Inc. (a)
   
268,738
     
5,011,964
 
             
24,937,761
 
Total Common Stocks (Cost $332,643,111)
           
227,641,660
 
                 
MONEY MARKET FUNDS - 0.1%
               
Invesco Government & Agency Portfolio - Institutional Class - 5.10% (e)
   
248,135
     
248,135
 
Total Money Market Funds (Cost $248,135)
           
248,135
 
                 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 2.5%
               
First American Government Obligations Fund - Class X - 5.18% (e)
   
5,728,152
     
5,728,152
 
Total Investments Purchased with Proceeds from Securities Lending (Cost $5,728,152)
           
5,728,152
 
Total Investments - 102.5%
               
(Cost $338,619,398)
         
$
233,617,947
 
                 
Percentages are based on Net Assets of $227,841,734.
 

ADR -
American Depositary Receipt
(a)
Non-income producing security.
(b)
All or a portion of this security is out on loan as of July 31, 2023. Total value of the securities out on loan is $3,970,656 or 1.7% of net assets.
(c)
Security exempt from registration under Rule 144(a) and Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities, according to the Fund's liquidity guidelines.  At July 31, 2023, the value of these securities amounted to $10,811,259 or 4.7% of net assets.
(d)
Illiquid security. At July 31, 2023, the value of this security amounted to $0 or 0.0% of net assets. The Fund has fair valued this security. Value determined using significant unobservable inputs.
(e)
Seven-day yield as of July 31, 2023.
                   
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.


 
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 July 31, 2023 maximized the use of observable inputs and minimized the use of unobservable inputs.
                                     
For the period ended July 31, 2023, there have been no significant changes to the Fund's fair valuation methodologies.
                                     
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. Deposit accounts are valued at acquisition cost, which approximates fair value. 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. Swaps will be valued by using the market close price of the underlying holdings. If there is no market price available, then the securities will be valued at the last trade price.
                 
The Trust's valuation procedures provide for the designation of the Adviser as "Valuation Designee". 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 Valuation Designee, pursuant to procedures established by 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 July 31, 2023:

   
Category
                               
   
Investments in Securities
                               
   
Assets
                               
   
Level 1
                               
   
Common Stocks
 
 $227,641,660
                           
   
Money Market Funds
 
         248,135
                           
   
Investments Purchased with
Proceeds from Securities Lending
 
      5,728,152
                           
   
Total Level 1
 
   233,617,947
                           
   
Level 2
 
                    -
                           
   
Total Level 2
 
                    -
                           
   
Level 3
                               
   
Common Stocks
 
0
                           
   
Total Level 3
 
0
                           
   
Total
 
 $233,617,947
                           

See the Schedule of Investments for further disaggregation of investment categories.
             
                                     
For the period ended July 31, 2023, there were no transfers into or out of Level 3 for the Fund. Below is a reconciliation of securities in Level 3 for the Fund.
     

IBUY
 
Balance as of 10/31/2022
   
Net Realized
Gain (Loss)
   
Net Change in Unrealized Appreciation (Depreciation)
   
Purchases/
Acquisition
   
Sales
   
Corporate
Action
   
Transfers In/
Out of Level 3
   
Balance as of 07/31/2023
   
Net Change in Unrealized Appreciation (Depreciation) on Securities held at 07/31/2023
 
Common Stocks
 
$
0
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
0
   
$
-
 
                                                                         
The following is a summary of quantitative information about Level 3 Fair Value Measurements:
                                 
                                                                         
IBUY
                 
Fair Value as of 07/31/23
   
Valuation Techniques
   
Unobservable
Input
   
Range/Weighted Average Unobservable
Input
   
Impact to
Valuation from
an Increase to Input
                 
Common Stock
                 
$
0
   
Market Approach
   
No Market Activity
     
-
   
Increase
                 
                                                                         
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 July 31, 2023, 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.