Amplify Seymour Cannabis ETF
  
Schedule of Investments
  
December 31, 2025 (Unaudited)
  
    
COMMON STOCKS - 15.7%
Shares
  
Value
 
Consumer Discretionary - 1.1%
       
GrowGeneration Corp. (a)
    
724,409
    
$
1,086,614
  
                      
Financials - 0.4%
            
Chicago Atlantic BDC, Inc.
    
39,001
      
402,880
  
                      
Health Care - 12.4%
            
Aleafia Health, Inc. (a)
    
78,894
      
0
(b) 
Charlotte's Web Holdings, Inc. (a)(c)
    
145,581
      
52,503
  
Clever Leaves Holdings, Inc. (a)
    
4,857
      
1
  
Cronos Group, Inc. (a)
    
167,584
      
440,746
  
Curaleaf Holdings, Inc. (a)
    
4,781,872
      
11,880,211
  
Organigram Global, Inc. (a)
    
157,155
      
264,020
  
SNDL, Inc. (a)
    
203,556
      
337,903
  
             
12,975,384
  
                      
Industrials - 0.3%
            
Hydrofarm Holdings Group, Inc. (a)
    
3,614
      
5,457
  
RYTHM, Inc. (a)(c)
    
16,045
      
342,400
  
             
347,857
  
                      
Information Technology - 1.5%
            
WM Technology, Inc. (a)
    
1,902,568
      
1,569,809
  
TOTAL COMMON STOCKS (Cost $17,834,486)
      
16,382,544
  
                      
REAL ESTATE INVESTMENT TRUSTS - COMMON - 2.8%
Shares
  
Value
 
Financials - 0.5%
            
Chicago Atlantic Real Estate Finance, Inc.
    
43,324
      
531,152
  
                      
Real Estate - 2.3%
            
Innovative Industrial Properties, Inc.
    
51,304
      
2,429,758
  
TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $4,103,153)
      
2,960,910
  
                      
CONTINGENT VALUE RIGHTS - 0.0% (d)
Shares
  
Value
 
Health Care - 0.0%(d)
            
Zynerba Pharmaceuticals, Expires 12/31/2040, Exercise Price $0.00  (a)(e)
    
220,858
      
0
  
TOTAL CONTINGENT VALUE RIGHTS (Cost $0)
      
0
  
                      
SHORT-TERM INVESTMENTS
  
U.S. TREASURY BILLS - 91.8%
Par
  
Value
 
3.64%, 01/02/2026 (f)
    
14,091,000
      
14,091,000
  
3.77%, 01/22/2026 (f)
    
11,040,000
      
11,018,206
  
3.77%, 02/05/2026 (f)
    
640,000
      
637,862
  
3.73%, 02/10/2026 (f)
    
42,480,000
      
42,317,411
  
3.78%, 02/12/2026 (f)
    
1,180,000
      
1,175,182
  
3.73%, 02/19/2026 (f)
    
640,000
      
636,966
  
3.70%, 02/24/2026 (f)
    
1,879,000
      
1,869,235
  
3.71%, 02/26/2026 (f)
    
930,000
      
924,906
  
3.52%, 03/12/2026 (f)
    
23,100,000
      
22,944,008
  
3.50%, 03/19/2026 (f)
    
320,000
      
317,626
  
TOTAL U.S. TREASURY BILLS (Cost $95,914,373)
      
95,932,402
  
                      
MONEY MARKET FUNDS - 2.0%
Shares
  
Value
 
Invesco Government & Agency Portfolio - Institutional Class, 3.68% (g)
    
2,114,432
      
2,114,432
  
TOTAL MONEY MARKET FUNDS (Cost $2,114,432)
      
2,114,432
  
                      
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.1%
Shares
  
Value
 
First American Government Obligations Fund - Class X, 3.67% (g)
    
95,410
      
95,410
  
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $95,410)
      
95,410
  
                      
TOTAL INVESTMENTS - 112.4% (Cost $120,061,854)
      
117,485,698
  
Liabilities in Excess of Other Assets - (12.4)%
      
(12,943,045
)
TOTAL NET ASSETS - 100.0%
          
$
104,542,653
  
              
Par amount is in USD unless otherwise indicated.
            
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.
  

(a)
Non-income producing security.
(b)
Rounds to zero.
(c)
All or a portion of this security is on loan as of December 31, 2025. The fair value of these securities was $35,501.
(d)
Represents less than 0.05% of net assets.
(e)
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 December 31, 2025.
(f)
The rate shown is the annualized yield as of December 31, 2025.
(g)
The rate shown represents the 7-day annualized yield as of December 31, 2025.


Amplify Seymour Cannabis ETF
  
Schedule of Total Return Swap Contracts
  
December 31, 2025
  
   
Reference Entity
Counterparty
Long/Short
Financing Rate
Payment
Frequency
Maturity Date
Notional
Amount
  
Value/ Unrealized
Appreciation
(Depreciation)
  
Ayr Wellness, Inc. Warrant Expires 06/27/2026
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
129
      
86
  
Cresco Labs, Inc.
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
1,021,642
      
(63,076
)
Green Thumb Industries, Inc.
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
1,095,695
      
(54,128
)
Trulieve Cannabis Corp.
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
1,835,146
      
(131,428
)
Verano Holdings Corp.
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
180,117
      
(16,194
)
Vireo Growth, Inc.
Nomura Securities International, Inc.
Long
OBFR + 1.50%
Monthly
6/27/2026
    
100,660
      
5,175
  
NBC Basket Swap 1
National Bank of Canada Financial, Inc.
Long
SOFR + 1.50%
Quarterly
3/15/2027
    
71,251,833
      
(12,617,293
)
NBC Basket Swap 2
National Bank of Canada Financial, Inc.
Long
SOFR + 2.00%
Quarterly
3/15/2027
    
8,976,556
      
(3,259,526
)
Net Unrealized Appreciation (Depreciation)
    
$
(16,136,384
)

There are no upfront payments or receipts associated with total return swaps in the Fund as of December 31, 2025.
  
                             
The underlying swaps of the NBC Basket Swap 1 as of December 31, 2025 are shown below:
                          
                             
Description
Counterparty
Notional Amount
  
Concentration %
of Exposure
                    
Option Contracts:
                            
Ascend Wellness Holdings, Inc.
National Bank of Canada Financial, Inc.
  
$
2,064,991
      
2.90
%
                  
Ayr Wellness, Inc.
National Bank of Canada Financial, Inc.
    
34,171
      
0.05
%
                  
Cannabist Co. Holdings, Inc.
National Bank of Canada Financial, Inc.
    
409,955
      
0.57
%
                  
Cresco Labs, Inc.
National Bank of Canada Financial, Inc.
    
10,509,276
      
14.75
%
                  
Glass House Brands, Inc.
National Bank of Canada Financial, Inc.
    
7,376,634
      
10.35
%
                  
Green Thumb Industries, Inc.
National Bank of Canada Financial, Inc.
    
15,707,541
      
22.05
%
                  
Jushi Holdings, Inc.
National Bank of Canada Financial, Inc.
    
2,241,195
      
3.15
%
                  
MariMed, Inc.
National Bank of Canada Financial, Inc.
    
864,003
      
1.21
%
                  
Planet 13 Holdings, Inc.
National Bank of Canada Financial, Inc.
    
1,139,595
      
1.60
%
                  
Trulieve Cannabis Corp.
National Bank of Canada Financial, Inc.
    
20,217,528
      
28.37
%
                  
Verano Holdings Corp.
National Bank of Canada Financial, Inc.
    
8,213,349
      
11.53
%
                  
Vireo Growth, Inc.
National Bank of Canada Financial, Inc.
    
2,473,595
      
3.47
%
                  
The Underlying Positions
  $

71,251,833.00
      
100.00
%
                  
                                     
The underlying swaps of the NBC Basket Swap 2 as of December 31, 2025 are shown below:
                                  
                                     
Description
Counterparty
Notional Amount
  
Concentration %
of Exposure
                    
Option Contracts:
                                    
Curaleaf Holdings, Inc.
National Bank of Canada Financial, Inc.
 $

3,700,552
      
41.22
%
                  
TerrAscend Corp.
National Bank of Canada Financial, Inc.
    
5,276,004
      
58.78
%
                  
The Underlying Positions
  $

8,976,556.00
      
100.00
%
                  
                                     
                                     
OBFR - Overnight Bank Funding Rate was 3.88% as of December 31, 2025.
  
SOFR - Secured Overnight Financing Rate was 3.87% as of December 31, 2025.
  

 
Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
 
Amplify Seymour Cannabis 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
  
Assets:
                        
Investments:
                        
  Common Stocks
  
$
16,382,543
    
$
1
    
$
–
    
$
16,382,544
  
  Real Estate Investment Trusts - Common
    
2,960,910
      
–
      
–
      
2,960,910
  
  Contingent Value Rights
    
–
      
–
      
0
      
0
  
  U.S. Treasury Bills
    
–
      
95,932,402
      
–
      
95,932,402
  
  Money Market Funds
    
2,114,432
      
–
      
–
      
2,114,432
  
  Investments Purchased with Proceeds from Securities Lending
    
95,410
      
–
      
–
      
95,410
  
Total Investments
  
$
21,553,295
    
$
95,932,403
    
$
0
    
$
117,485,698
  
   
Other Financial Instruments:
                                
  Total Return Swaps*
  
$
–
    
$
5,261
    
$
–
    
$
5,261
  
Total Other Financial Instruments
  
$
–
    
$
5,261
    
$
–
    
$
5,261
  
                                 
Liabilities:
                                
Other Financial Instruments:
                                
  Total Return Swaps*
  
$
–
    
$
(16,141,645
)
  
$
–
    
$
(16,141,645
)
Total Other Financial Instruments
  
$
–
    
$
(16,141,645
)
  
$
–
    
$
(16,141,645
)
   
* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of December 31, 2025.
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.