Amplify Online Retail ETF
 
Schedule of Investments
 
June 30, 2025 (Unaudited)
 
   
COMMON STOCKS - 99.7%
 
Shares
   
Value
 
Omnichannel - 9.3%
       
Apple, Inc.
   
4,146
   
$
850,635
 
Best Buy Co., Inc.
   
11,899
     
798,780
 
CarMax, Inc. (a)
   
12,350
     
830,044
 
Dick's Sporting Goods, Inc.
   
4,319
     
854,341
 
Gap, Inc.
   
34,967
     
762,630
 
H & M Hennes & Mauritz AB - Class B
   
10,808
     
150,716
 
Home Depot, Inc.
   
2,242
     
822,007
 
Industria de Diseno Textil SA
   
2,946
     
152,781
 
Kohl's Corp. (b)
   
124,800
     
1,058,304
 
Lululemon Athletica, Inc. (a)
   
2,950
     
700,861
 
Macy's, Inc.
   
70,145
     
817,891
 
Next PLC
   
937
     
159,732
 
NIKE, Inc. - Class B
   
13,880
     
986,035
 
Tapestry, Inc.
   
10,884
     
955,724
 
Target Corp.
   
8,520
     
840,498
 
Ulta Beauty, Inc. (a)
   
2,071
     
968,855
 
Victoria's Secret & Co. (a)(b)
   
42,291
     
783,229
 
Walmart, Inc.
   
8,233
     
805,023
 
Williams-Sonoma, Inc.
   
5,161
     
843,153
 
             
14,141,239
 
                 
Online Marketplace - 39.7%(c)
         
Affirm Holdings, Inc. (a)
   
67,104
     
4,639,571
 
Alibaba Group Holding Ltd.
   
70,500
     
986,102
 
BigCommerce Holdings, Inc. (a)
   
665,112
     
3,325,560
 
Copart, Inc. (a)
   
56,475
     
2,771,228
 
Coupang, Inc. (a)
   
41,442
     
1,241,602
 
Delivery Hero SE (a)(d)(e)
   
39,710
     
1,070,711
 
DoorDash, Inc. - Class A (a)
   
19,540
     
4,816,805
 
Etsy, Inc. (a)
   
75,316
     
3,777,851
 
Fiverr International Ltd. (a)
   
37,842
     
1,109,906
 
Global-e Online Ltd. (a)
   
29,545
     
990,939
 
JD.com, Inc. - Class A
   
65,350
     
1,064,747
 
KE Holdings, Inc. - ADR
   
56,272
     
998,265
 
Liquidity Services, Inc. (a)
   
109,692
     
2,587,634
 
Lyft, Inc. - Class A (a)
   
274,708
     
4,329,398
 
Maplebear, Inc. (a)
   
75,630
     
3,421,501
 
Meituan - Class B (a)(d)(e)
   
61,500
     
981,650
 
MercadoLibre, Inc. (a)
   
488
     
1,275,451
 
Mercari, Inc. (a)
   
68,400
     
1,266,237
 
Ozon Holdings PLC - ADR (a)(b)(f)
   
106,678
     
0
 
PayPal Holdings, Inc. (a)
   
50,349
     
3,741,938
 
PDD Holdings, Inc. - ADR (a)
   
10,077
     
1,054,659
 
Prosus NV
   
23,001
     
1,281,673
 
Rakuten Group, Inc. (a)
   
184,400
     
1,016,693
 
Sea Ltd. - ADR (a)
   
7,733
     
1,236,816
 
Shopify, Inc. - Class A (a)
   
11,665
     
1,345,558
 
Silicon2 Co. Ltd. (a)
   
41,546
     
1,899,369
 
Uber Technologies, Inc. (a)
   
41,345
     
3,857,488
 
Upwork, Inc. (a)
   
212,574
     
2,856,995
 
VTEX - Class A (a)(b)
   
188,438
     
1,243,691
 
             
60,190,038
 
                 
Online Retail - 40.0%(c)
         
1-800-Flowers.com, Inc. - Class A (a)(b)
   
609,980
     
3,001,102
 
Allegro.eu SA (a)(d)(e)
   
124,080
     
1,187,666
 
Amazon.com, Inc. (a)
   
18,327
     
4,020,760
 
ASKUL Corp.
   
104,000
     
1,108,796
 
Auto1 Group SE (a)(d)(e)
   
50,565
     
1,623,968
 
BuySell Technologies Co. Ltd. (b)
   
51,800
     
1,015,595
 
Carvana Co. (a)
   
13,344
     
4,496,394
 
Chewy, Inc. - Class A (a)
   
90,184
     
3,843,642
 
DocMorris AG (a)(b)
   
86,742
     
694,699
 
eBay, Inc.
   
49,577
     
3,691,503
 
HelloFresh SE (a)
   
101,352
     
944,873
 
Hims & Hers Health, Inc. (a)(b)
   
66,066
     
3,293,390
 
MSC Industrial Direct Co., Inc. - Class A
   
46,138
     
3,922,653
 
Oisix ra daichi, Inc. (a)
   
104,100
     
1,249,676
 
Peloton Interactive, Inc. - Class A - Class A (a)
   
495,498
     
3,438,756
 
Redcare Pharmacy NV (a)(d)(e)
   
7,948
     
873,730
 
Revolve Group, Inc. (a)
   
202,612
     
4,062,371
 
Shutterstock, Inc. (b)
   
199,456
     
3,781,686
 
Spotify Technology SA (a)
   
5,263
     
4,038,510
 
Temple & Webster Group Ltd. (a)
   
91,616
     
1,280,066
 
Vipshop Holdings Ltd. - ADR
   
77,686
     
1,169,174
 
Wayfair, Inc. - Class A (a)
   
113,582
     
5,808,583
 
Zalando SE (a)(d)(e)
   
32,216
     
1,056,975
 
ZOZO, Inc.
   
103,900
     
1,119,958
 
             
60,724,526
 
                 
Online Travel - 10.7%
         
Airbnb, Inc. - Class A (a)
   
28,090
     
3,717,431
 
Booking Holdings, Inc.
   
666
     
3,855,634
 
Expedia Group, Inc.
   
20,764
     
3,502,471
 
MakeMyTrip Ltd. (a)
   
9,839
     
964,419
 
Trip.com Group Ltd.
   
17,750
     
1,031,083
 
TripAdvisor, Inc. (a)
   
240,847
     
3,143,053
 
             
16,214,091
 
TOTAL COMMON STOCKS (Cost $162,489,871)
     
151,269,894
 
                 
SHORT-TERM INVESTMENTS - 10.5%
         
Value
 
Investments Purchased with Proceeds from Securities Lending - 10.2%
 
Shares
         
First American Government Obligations Fund - Class X, 4.25% (g)
   
15,440,932
     
15,440,932
 
                 
Money Market Funds - 0.3%
 
Shares
         
Invesco Government & Agency Portfolio – Institutional Class, 4.26% (g)
   
447,477
     
447,477
 
TOTAL SHORT-TERM INVESTMENTS (Cost $15,888,409)
     
15,888,409
 
                 
TOTAL INVESTMENTS - 110.2% (Cost $178,378,280)
     
167,158,303
 
Liabilities in Excess of Other Assets - (10.2)%
     
(15,447,270
)
TOTAL NET ASSETS - 100.0%
         
$
151,711,033
 
two
     
%
Percentages are stated as a percent of net assets.
     
%
   
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.
 

ADR - American Depositary Receipt
PLC - Public Limited Company

(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of June 30, 2025. The fair value of these securities was $13,689,781.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $6,794,700 or 4.5% of the Fund’s net assets.
(e)
Security is exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. As of June 30, 2025, the value of these securities total $6,794,700 or 4.5% of the Fund’s net assets.
(f)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of June 30, 2025.
(g)
The rate shown represents the 7-day annualized effective yield as of June 30, 2025.



Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
 
Amplify Online Retail ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
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 instruments, 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 Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of June 30, 2025:
 
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets:
                       
Investments:
                       
  Common Stocks
   
151,269,894
     
     
0
     
151,269,894
 
  Investments Purchased with Proceeds from Securities Lending
   
15,440,932
     
     
     
15,440,932
 
  Money Market Funds
   
447,477
     
     
     
447,477
 
Total Investments
   
167,158,303
     
     
0
     
167,158,303
 
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
 

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 June 30, 2025, 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.