Amplify Online Retail ETF
 
Schedule of Investments
 
January 31, 2021 (Unaudited)
 
             
Description
 
Shares
   
Value
 
             
COMMON STOCKS - 99.9%
           
Marketplace - 31.2%
           
Alibaba Group Holding Ltd. - ADR (a)
   
39,186
   
$
9,946,582
 
BigCommerce Holdings, Inc. (a) (b)
   
366,571
     
29,303,686
 
Copart, Inc. (a)
   
249,742
     
27,409,185
 
Dada Nexus Ltd. - ADR (a) (b)
   
340,998
     
14,096,857
 
Delivery Hero SE (a) (c)
   
92,921
     
14,151,894
 
Etsy, Inc. (a)
   
222,358
     
44,269,254
 
Fiverr International Ltd. (a)
   
72,699
     
15,013,071
 
Groupon, Inc. (a)
   
1,413,212
     
48,289,454
 
Grubhub, Inc. (a)
   
391,819
     
29,492,216
 
Jumia Technologies AG - ADR (a) (b)
   
656,949
     
37,807,415
 
Just Eat Takeaway.com NV (a) (c)
   
99,264
     
11,393,261
 
KE Holdings, Inc. - ADR (a)
   
153,685
     
9,082,784
 
Lyft, Inc. - Class A (a)
   
1,037,604
     
46,131,874
 
MercadoLibre, Inc. (a)
   
8,786
     
15,634,775
 
PayPal Holdings, Inc. (a)
   
155,940
     
36,538,301
 
Pinduoduo, Inc. - ADR (a)
   
105,030
     
17,404,521
 
Rakuten, Inc. (a)
   
1,171,500
     
11,508,650
 
Shopify, Inc. - Class A (a)
   
11,630
     
12,776,602
 
The RealReal, Inc. (a)
   
2,183,760
     
51,711,437
 
Uber Technologies, Inc. (a)
   
739,039
     
37,639,256
 
             
519,601,075
 
Traditional Retail - 59.8%
               
1-800-Flowers.com, Inc. - Class A (a)
   
1,461,528
     
44,912,755
 
Amazon.com, Inc. (a)
   
9,322
     
29,888,196
 
AO World PLC (a)
   
2,312,713
     
9,886,503
 
ASKUL Corp.
   
309,900
     
10,946,871
 
ASOS PLC (a)
   
187,986
     
11,523,592
 
Carvana Co. (a)
   
150,520
     
39,314,319
 
Chegg, Inc. (a)
   
395,465
     
37,671,996
 
Chewy, Inc. - Class A (a) (b)
   
451,711
     
45,993,214
 
Cimpress PLC (a)
   
140,590
     
12,848,520
 
eBay, Inc.
   
634,308
     
35,844,745
 
Farfetch Ltd. - Class A (a)
   
330,707
     
20,252,497
 
HelloFresh SE (a)
   
196,730
     
16,664,143
 
IAC/InterActiveCorp (a)
   
231,312
     
48,563,954
 
iQIYI, Inc. - ADR (a) (b)
   
441,005
     
9,635,959
 
JD.com, Inc. - ADR (a)
   
129,604
     
11,494,579
 
Lands' End, Inc. (a)
   
1,816,224
     
50,145,945
 
Netflix, Inc. (a)
   
60,945
     
32,446,508
 
Ocado Group PLC (a)
   
348,330
     
13,253,578
 
Overstock.com, Inc. (a) (b)
   
506,773
     
39,325,585
 
Peloton Interactive, Inc. - Class A (a)
   
255,337
     
37,312,396
 
PetMed Express, Inc. (b)
   
993,784
     
37,962,549
 
Qurate Retail, Inc. - Class A
   
5,053,556
     
63,674,806
 
Revolve Group, Inc. (a)
   
1,690,167
     
62,806,606
 
Shutterstock, Inc.
   
447,742
     
29,098,753
 
Spotify Technology SA (a)
   
48,435
     
15,257,025
 
Stamps.com, Inc. (a)
   
129,605
     
29,590,118
 
Stitch Fix, Inc. - Class A (a)
   
875,470
     
83,554,857
 
Vipshop Holdings Ltd. - ADR (a)
   
545,376
     
14,954,210
 
Vroom, Inc. (a)
   
742,588
     
27,349,516
 
Wayfair, Inc. - Class A (a)
   
112,116
     
30,531,429
 
Zalando SE (a) (c)
   
112,265
     
12,904,555
 
zooplus AG (a)
   
69,607
     
16,134,045
 
ZOZO, Inc.
   
445,100
     
12,463,395
 
             
994,207,719
 
Travel - 8.9%
               
Booking Holdings, Inc. (a)
   
17,669
     
34,354,367
 
Expedia Group, Inc.
   
307,620
     
38,175,642
 
MakeMyTrip Ltd. (a)
   
580,800
     
16,570,224
 
Trip.com Group Ltd. - ADR (a)
   
379,566
     
12,081,586
 
TripAdvisor, Inc. (a)
   
1,536,282
     
47,578,653
 
             
148,760,472
 
Total Common Stocks (Cost $1,113,087,450)
           
1,662,569,266
 
                 
MONEY MARKET FUNDS - 0.2%
               
STIT-Government & Agency Portfolio - Institutional Class - 0.03% (d)
   
2,581,778
     
2,581,778
 
Total Money Market Funds (Cost $2,581,778)
           
2,581,778
 
                 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 7.5%
               
First American Government Obligations Fund - Class X - 0.04% (d)
   
125,325,481
     
125,325,481
 
Total Investments Purchased with Proceeds from Securities Lending (Cost $125,325,481)
           
125,325,481
 
Total Investments - 107.6%
               
(Cost $1,240,994,709)
         
$
1,790,476,525
 

Percentages are based on Net Assets of $1,664,624,158.
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 $119,125,769 or 7.2% 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 January 31, 2020 the value of these securities amounted to $38,449,711 or 2.3% of net assets.
(d)
Seven-day yield as of January 31, 2021.
                   
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 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
  $
                                    1,662,569,266
             
 
   Money Market Funds
   
                                            2,581,778
             
 
Investments Purchased with Proceeds from Securities Lending
   
                                        125,325,481
             
 
Total Level 1
   
                                      1,790,476,525
             
 
Level 2
   
                                                          -
             
 
Total Level 2
   
                                                          -
             
 
Level 3
   
                                                          -
             
 
Total Level 3
   
                                                          -
             
 
Total
  $
                                    1,790,476,525
             
                       
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.