Amplify AI Powered Equity ETF
  
Schedule of Investments
  
December 31, 2025 (Unaudited)
  
   
COMMON STOCKS - 97.7%
  
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Value
 
Communication Services - 11.6%
        
Alphabet, Inc. - Class A
    
10,669
    
$
3,339,397
  
Alphabet, Inc. - Class C
    
10,604
      
3,327,535
  
AT&T, Inc.
    
9,378
      
232,950
  
Charter Communications, Inc. - Class A (a)
    
1,470
      
306,862
  
Fox Corp. - Class B
    
6,764
      
439,186
  
Match Group, Inc.
    
6,002
      
193,805
  
Meta Platforms, Inc. - Class A
    
5,033
      
3,322,233
  
Netflix, Inc. (a)
    
10,406
      
975,667
  
T-Mobile US, Inc.
    
2,172
      
441,003
  
Verizon Communications, Inc.
    
12,132
      
494,136
  
Walt Disney Co.
    
4,688
      
533,354
  
             
13,606,128
  
                 
Consumer Discretionary - 8.1%
          
Amazon.com, Inc. (a)
    
14,620
      
3,374,588
  
AutoZone, Inc. (a)
    
95
      
322,193
  
CarMax, Inc. (a)
    
6,846
      
264,529
  
Home Depot, Inc.
    
3,569
      
1,228,093
  
Lennar Corporation - Class A
    
3,808
      
391,462
  
McDonald's Corporation
    
2,000
      
611,260
  
Royal Caribbean Cruises Ltd.
    
1,163
      
324,384
  
Starbucks Corp.
    
3,942
      
331,956
  
Tesla, Inc. (a)
    
5,848
      
2,629,963
  
             
9,478,428
  
                 
Consumer Staples - 6.1%
          
Altria Group, Inc.
    
6,973
      
402,063
  
Coca-Cola Co.
    
9,784
      
683,999
  
Costco Wholesale Corp.
    
1,240
      
1,069,302
  
Kenvue, Inc.
    
22,591
      
389,695
  
Kraft Heinz Co.
    
16,561
      
401,604
  
Molson Coors Beverage Co. - Class B
    
6,474
      
302,206
  
PepsiCo, Inc.
    
3,672
      
527,005
  
Philip Morris International, Inc.
    
3,159
      
506,704
  
Procter & Gamble Co.
    
9,485
      
1,359,295
  
Target Corp.
    
4,085
      
399,309
  
Walmart, Inc.
    
10,031
      
1,117,554
  
             
7,158,736
  
                 
Energy - 2.6%
          
Chevron Corp.
    
5,508
      
839,474
  
ConocoPhillips
    
5,036
      
471,420
  
EOG Resources, Inc.
    
2,902
      
304,739
  
Exxon Mobil Corp.
    
7,703
      
926,979
  
Phillips 66
    
2,466
      
318,213
  
SLB Ltd.
    
5,415
      
207,828
  
             
3,068,653
  
                 
Financials - 13.0%
          
Allstate Corp.
    
2,461
      
512,257
  
American Express Co.
    
1,161
      
429,512
  
Bank of America Corp.
    
14,524
      
798,820
  
Berkshire Hathaway, Inc. - Class B (a)
    
3,912
      
1,966,367
  
Blackrock, Inc.
    
477
      
510,552
  
Blackstone, Inc.
    
2,414
      
372,094
  
Capital One Financial Corp.
    
1,267
      
307,070
  
Charles Schwab Corp.
    
5,895
      
588,969
  
Citigroup, Inc.
    
3,284
      
383,210
  
FactSet Research Systems, Inc.
    
1,017
      
295,123
  
Fiserv, Inc. (a)
    
4,227
      
283,928
  
Global Payments, Inc.
    
2,711
      
209,831
  
Goldman Sachs Group, Inc.
    
495
      
435,105
  
JPMorgan Chase & Co.
    
6,416
      
2,067,364
  
KKR & Co., Inc.
    
3,652
      
465,557
  
Mastercard, Inc. - Class A
    
1,858
      
1,060,695
  
MetLife, Inc.
    
4,696
      
370,702
  
Morgan Stanley
    
3,443
      
611,236
  
Progressive Corp.
    
2,701
      
615,072
  
Prudential Financial, Inc.
    
3,505
      
395,644
  
Robinhood Markets, Inc. - Class A (a)
    
2,206
      
249,499
  
S&P Global, Inc.
    
773
      
403,962
  
Synchrony Financial
    
3,160
      
263,639
  
Visa, Inc. - Class A
    
3,714
      
1,302,537
  
Wells Fargo & Co.
    
4,066
      
378,951
  
             
15,277,696
  
                 
Health Care - 9.8%
          
Abbott Laboratories
    
5,752
      
720,668
  
AbbVie, Inc.
    
2,944
      
672,675
  
Amgen, Inc.
    
664
      
217,334
  
Boston Scientific Corp. (a)
    
4,482
      
427,359
  
Cigna Group
    
1,597
      
439,542
  
CVS Health Corporation
    
4,167
      
330,693
  
Eli Lilly and Co.
    
1,561
      
1,677,575
  
GE HealthCare Technologies, Inc.
    
3,099
      
254,180
  
Gilead Sciences, Inc.
    
3,692
      
453,156
  
IDEXX Laboratories, Inc. (a)
    
317
      
214,460
  
Johnson & Johnson
    
4,497
      
930,654
  
McKesson Corp.
    
435
      
356,826
  
Merck & Co., Inc.
    
6,690
      
704,189
  
Pfizer, Inc.
    
22,055
      
549,170
  
Regeneron Pharmaceuticals, Inc.
    
515
      
397,513
  
Revvity, Inc.
    
3,461
      
334,852
  
STERIS PLC
    
1,533
      
388,646
  
Stryker Corp.
    
1,629
      
572,545
  
Thermo Fisher Scientific, Inc.
    
1,247
      
722,574
  
UnitedHealth Group, Inc.
    
1,950
      
643,715
  
Vertex Pharmaceuticals, Inc. (a)
    
490
      
222,146
  
Zimmer Biomet Holdings, Inc.
    
2,872
      
258,250
  
             
11,488,722
  
                 
Industrials - 8.7%
          
A.O. Smith Corp.
    
5,183
      
346,639
  
Automatic Data Processing, Inc.
    
1,804
      
464,043
  
Boeing Co. (a)
    
1,726
      
374,749
  
Carrier Global Corp.
    
8,252
      
436,036
  
Caterpillar, Inc.
    
1,072
      
614,117
  
Deere & Co.
    
737
      
343,125
  
Delta Air Lines, Inc.
    
4,515
      
313,341
  
Equifax, Inc.
    
1,205
      
261,461
  
Fastenal Co.
    
12,558
      
503,953
  
Fortive Corp.
    
7,914
      
436,932
  
GE Vernova, Inc.
    
781
      
510,438
  
General Dynamics Corp.
    
1,360
      
457,858
  
General Electric Co.
    
1,801
      
554,762
  
Honeywell International, Inc.
    
3,194
      
623,117
  
Howmet Aerospace, Inc.
    
1,621
      
332,337
  
Lockheed Martin Corp.
    
634
      
306,647
  
Norfolk Southern Corp.
    
1,364
      
393,814
  
Otis Worldwide Corp.
    
3,490
      
304,851
  
Republic Services, Inc.
    
1,715
      
363,460
  
RTX Corp.
    
2,531
      
464,185
  
TransDigm Group, Inc.
    
157
      
208,786
  
Uber Technologies, Inc. (a)
    
4,915
      
401,605
  
Union Pacific Corp.
    
1,686
      
390,006
  
Veralto Corp.
    
4,091
      
408,200
  
Verisk Analytics, Inc.
    
1,954
      
437,090
  
             
10,251,552
  
                 
Information Technology - 32.4% (b)
          
Accenture PLC - Class A
    
1,350
      
362,205
  
Advanced Micro Devices, Inc. (a)
    
3,877
      
830,298
  
Amphenol Corp. - Class A
    
5,355
      
723,675
  
Apple, Inc.
    
26,671
      
7,250,778
  
Applied Materials, Inc.
    
1,917
      
492,650
  
AppLovin Corp. - Class A (a)
    
478
      
322,086
  
Broadcom, Inc.
    
9,537
      
3,300,756
  
Cadence Design System, Inc. (a)
    
1,336
      
417,607
  
CDW Corp.
    
2,219
      
302,228
  
Cisco Systems, Inc.
    
9,947
      
766,217
  
Datadog, Inc. - Class A (a)
    
2,765
      
376,012
  
Gartner, Inc. (a)
    
1,288
      
324,937
  
Intel Corp. (a)
    
8,452
      
311,879
  
International Business Machines Corp.
    
1,909
      
565,465
  
Intuit, Inc.
    
923
      
611,414
  
Lam Research Corp.
    
3,733
      
639,015
  
Micron Technology, Inc.
    
2,008
      
573,103
  
Microsoft Corp.
    
12,444
      
6,018,167
  
NVIDIA Corp.
    
45,935
      
8,566,878
  
ON Semiconductor Corp. (a)
    
4,226
      
228,838
  
Oracle Corp.
    
3,384
      
659,575
  
Palantir Technologies, Inc. - Class A (a)
    
4,756
      
845,379
  
Palo Alto Networks, Inc. (a)
    
1,830
      
337,086
  
Roper Technologies, Inc.
    
922
      
410,410
  
Salesforce, Inc.
    
2,554
      
676,580
  
Seagate Technology Holdings PLC
    
916
      
252,257
  
ServiceNow, Inc. (a)
    
3,716
      
569,254
  
TE Connectivity PLC
    
1,567
      
356,508
  
Texas Instruments, Inc.
    
2,922
      
506,938
  
Workday, Inc. - Class A (a)
    
1,672
      
359,112
  
             
37,957,307
  
                 
Materials - 2.2%
          
DuPont de Nemours, Inc.
    
17,572
      
706,395
  
Linde PLC
    
988
      
421,273
  
Mosaic Co.
    
12,662
      
305,028
  
Newmont Corp.
    
2,785
      
278,082
  
Sherwin-Williams Co.
    
1,273
      
412,490
  
Vulcan Materials Co.
    
1,408
      
401,590
  
             
2,524,858
  
                 
Real Estate - 0.3%
          
CoStar Group, Inc. (a)
    
4,926
      
331,224
  
                 
Utilities - 2.9%
          
American Electric Power Co., Inc.
    
3,339
      
385,020
  
DTE Energy Co.
    
2,302
      
296,912
  
Duke Energy Corp.
    
4,746
      
556,278
  
NextEra Energy, Inc.
    
5,318
      
426,929
  
PG&E Corporation
    
24,724
      
397,315
  
Public Service Enterprise Group, Inc.
    
5,326
      
427,678
  
Southern Co.
    
6,066
      
528,955
  
WEC Energy Group, Inc.
    
3,078
      
324,606
  
             
3,343,693
  
TOTAL COMMON STOCKS (Cost $107,925,279)
      
114,486,997
  
                 
REAL ESTATE INVESTMENT TRUSTS - COMMON - 2.2%
  
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Value
 
Real Estate - 2.2%
          
Alexandria Real Estate Equities, Inc.
    
6,025
      
294,864
  
American Tower Corp.
    
3,134
      
550,236
  
Equinix, Inc.
    
563
      
431,348
  
Healthpeak Properties, Inc.
    
19,878
      
319,638
  
Invitation Homes, Inc.
    
18,718
      
520,173
  
Welltower, Inc.
    
2,180
      
404,630
  
TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $2,521,023)
      
2,520,889
  
                 
SHORT-TERM INVESTMENTS
  
MONEY MARKET FUNDS - 0.7%
  
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Value
 
Invesco Government & Agency Portfolio - Institutional Class, 3.68% (c)
    
872,957
      
872,957
  
TOTAL MONEY MARKET FUNDS (Cost $872,957)
      
872,957
  
                 
TOTAL INVESTMENTS - 100.6% (Cost $111,319,259)
      
117,880,843
  
Liabilities in Excess of Other Assets - (0.6)%
      
(647,166
)
TOTAL NET ASSETS - 100.0%
          
$
117,233,677
  
                 
Percentages are stated as a percent of net assets.
          
   
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
  

PLC - Public Limited Company

(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in particular industries or sectors of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(c)
The rate shown represents the 7-day annualized yield as of December 31, 2025.

 
Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
 
Amplify AI Powered Equity 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 December 31, 2025:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
114,486,997
    
$
–
    
$
–
    
$
114,486,997
  
  Real Estate Investment Trusts - Common
    
2,520,889
      
–
      
–
      
2,520,889
  
  Money Market Funds
    
872,957
      
–
      
–
      
872,957
  
Total Investments
  
$
117,880,843
    
$
–
    
$
–
    
$
117,880,843
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.