Amplify Transformational Data Sharing ETF
 
Schedule of Investments
 
January 31, 2021 (Unaudited)
 
             
Description
 
Shares
   
Value
 
             
COMMON STOCKS - 97.2%
           
Banks - 5.3%
           
China Construction Bank Corp.
   
5,389,260
   
$
4,087,170
 
Silvergate Capital Corp. - Class A (a)
   
257,366
     
23,950,480
 
             
28,037,650
 
Diversified Financials - 18.1%
               
CME Group, Inc.
   
25,273
     
4,593,115
 
Diginex Ltd. (a) (b)
   
755,026
     
11,582,099
 
Galaxy Digital Holdings Ltd. (a)
   
2,043,895
     
14,688,872
 
Hut 8 Mining Corp. (a) (b)
   
3,820,199
     
14,489,122
 
IG Group Holdings PLC
   
448,501
     
4,608,834
 
Intercontinental Exchange, Inc.
   
163,665
     
18,060,433
 
Nasdaq, Inc.
   
46,742
     
6,322,790
 
Plus500 Ltd.
   
313,886
     
5,777,980
 
SBI Holdings, Inc.
   
418,824
     
10,428,116
 
Vontobel Holding AG
   
49,325
     
3,995,284
 
VPC Impact Acquisition Holdings - Class A (a)
   
121,326
     
1,811,397
 
             
96,358,042
 
                 
Media & Entertainment - 11.6%
               
Alphabet, Inc. - Class A (a)
   
4,211
     
7,695,013
 
Baidu, Inc. - ADR (a)
   
50,053
     
11,763,456
 
Kakao Corp. (a)
   
28,473
     
11,225,275
 
LINE Corp. (a) (b)
   
     
 
NAVER Corp.
   
26,001
     
7,972,772
 
NetEase, Inc. - ADR
   
63,445
     
7,295,541
 
Tencent Holdings Ltd.
   
48,331
     
4,248,228
 
Z Holdings Corp.
   
1,829,116
     
11,357,650
 
             
61,557,935
 
Retailing - 9.0%
               
Alibaba Group Holding Ltd. - ADR (a)
   
45,440
     
11,534,035
 
Amazon.com, Inc. (a)
   
1,686
     
5,405,653
 
JD.com, Inc. - ADR (a)
   
111,189
     
9,861,353
 
Overstock.com, Inc. (a) (b)
   
168,232
     
13,054,803
 
Rakuten, Inc. (a)
   
798,911
     
7,848,388
 
             
47,704,232
 
Semiconductors & Semiconductor Equipment - 5.3%
               
Advanced Micro Devices, Inc. (a)
   
102,343
     
8,764,655
 
NVIDIA Corp.
   
19,039
     
9,892,474
 
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR
   
79,297
     
9,636,172
 
             
28,293,301
 
Software & Services - 42.7%
               
Accenture PLC - Class A
   
17,302
     
4,185,700
 
Akamai Technologies, Inc. (a)
   
32,731
     
3,634,123
 
Bitfarms Ltd./Canada (a)
   
818,575
     
2,131,656
 
Digital Garage, Inc.
   
346,917
     
11,873,573
 
DocuSign, Inc. (a)
   
31,345
     
7,299,937
 
GMO internet, Inc.
   
521,074
     
14,749,958
 
Hive Blockchain Technologies Ltd. (a)
   
8,020,283
     
15,115,450
 
International Business Machines Corp.
   
46,623
     
5,553,265
 
Marathon Patent Group, Inc. (a) (b)
   
1,228,545
     
25,480,023
 
Microsoft Corp.
   
17,229
     
3,996,439
 
MicroStrategy, Inc. (a) (b)
   
56,668
     
34,981,723
 
MoneyGram International, Inc. (a)
   
972,016
     
7,455,363
 
Northern Data AG (a) (b)
   
76,354
     
7,301,549
 
OneConnect Financial Technology Co. Ltd. - ADR (a)
   
239,696
     
4,918,562
 
Opera Ltd. - ADR (a) (b)
   
467,884
     
4,028,481
 
Oracle Corp.
   
69,039
     
4,172,027
 
PayPal Holdings, Inc. (a)
   
82,028
     
19,219,981
 
Recruit Holdings Co. Ltd.
   
71,189
     
3,086,930
 
Riot Blockchain, Inc. (a) (b)
   
537,225
     
11,023,857
 
Square, Inc. - Class A (a)
   
94,762
     
20,464,801
 
Visa, Inc. - Class A
   
29,387
     
5,679,038
 
Voyager Digital Ltd. (a) (b)
   
1,575,336
     
10,175,777
 
             
226,528,213
 
Technology Hardware & Equipment - 4.2%
               
Canaan, Inc. - ADR (a) (b)
   
2,046,345
     
9,331,333
 
Ebang International Holdings, Inc. - Class A (a) (b)
   
1,077,944
     
5,529,853
 
Samsung Electronics Co. Ltd.
   
102,535
     
7,516,422
 
             
22,377,608
 
Telecommunication Services - 1.0%
               
SoftBank Group Corp.
   
65,926
     
5,103,136
 
Total Common Stocks (Cost $394,065,795)
           
515,960,117
 
                 
UNIT INVESTMENT TRUSTS - 1.4 %
               
Grayscale Bitcoin Trust BTC (a) (b)
   
212,328
     
7,365,658
 
Total Unit Investment Trusts (Cost $3,320,002)
           
7,365,658
 
                 
MONEY MARKET FUNDS - 0.1%
               
STIT-Government & Agency Portfolio - Institutional Class - 0.03% (c)
   
298,891
     
298,891
 
Total Money Market Funds (Cost $298,891)
           
298,891
 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 19.1%
               
First American Government Obligations Fund - Class X - 0.04% (c)
   
101,478,731
     
101,478,731
 
Total Investments Purchased with Proceeds from Securities Lending (Cost $101,478,731)
           
101,478,731
 
Total Investments - 117.8%
               
(Cost $499,163,419)
         
$
625,103,397
 

Percentages are based on Net Assets of $530,515,044.
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 $101,403,515 or 19.1% of net assets.
(c)
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 rating 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
  $
                                           4,608,834
             
 
Canada
   
                                           31,736,228
             
 
China
   
                                           68,569,530
             
 
Germany
   
                                             7,301,549
             
 
Hong Kong
   
                                           11,582,099
             
 
Ireland
   
                                             4,185,700
             
 
Israel
   
                                             5,777,980
             
 
Japan
   
                                           64,447,752
             
 
Norway
   
                                             4,028,481
             
 
South Korea
   
                                           26,714,470
             
 
Switzerland
   
                                             3,995,283
             
 
Taiwan
   
                                             9,636,171
             
 
United States
   
                                         280,741,698
             
 
   Money Market Funds
   
                                               298,891
             
 
Investments Purchased with Proceeds from Securities Lending
   
                                        101,478,731
             
 
Total Level 1
   
                                         625,103,397
             
 
Level 2
   
                                                          -
             
 
Total Level 2
   
                                                          -
             
 
Level 3
   
                                                          -
             
 
Total Level 3
   
                                                          -
             
 
Total
  $
                                       625,103,397
             
                       
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.