Wedbush ETFMG Global Cloud Technology ETF
 
Schedule of Investments
 
December 31, 2023 (Unaudited)
 
   
COMMON STOCKS - 99.1%
 
Shares
   
Value
 
Australia - 6.8%
       
IT Services - 6.8%
           
Data#3, Ltd.
   
43,659
   
$
251,102
 
Megaport, Ltd.(a)
   
44,836
     
281,092
 
NEXTDC, Ltd.(a)
   
121,015
     
1,132,252
 
             
1,664,446
 
Total Australia
     
1,664,446
 
                 
Canada - 4.4%
         
Software - 4.4%
               
Open Text Corp.
   
26,143
     
1,098,754
 
                 
Cayman Islands - 6.0%
         
IT Services - 6.0%
               
Chinasoft International Ltd.
   
830,842
     
637,350
 
GDS Holdings, Ltd. - ADR(a)(b)
   
52,634
     
480,022
 
Kingsoft Cloud Holdings, Ltd. - ADR(a)(b)
   
66,622
     
251,831
 
Vnet Group, Inc. - ADR(a)(b)
   
41,883
     
120,204
 
             
1,489,407
 
Total Cayman Islands
     
1,489,407
 
                 
Israel - 5.2%
         
Software - 5.2%(f)
               
JFrog, Ltd.(a)
   
5,626
     
194,716
 
Nice, Ltd.(a)
   
5,380
     
1,083,415
 
             
1,278,131
 
Total Israel
     
1,278,131
 
                 
Japan - 9.9%
         
IT Services - 9.0%
               
Hennge KK(a)
   
9,206
     
78,806
 
NS Solutions Corp.
   
25,919
     
840,989
 
SCSK Corp.
   
56,811
     
1,126,549
 
TechMatrix Corp.
   
12,611
     
156,698
 
             
2,203,042
 
Software - 0.9%
               
Cybozu, Inc.
   
14,945
     
231,065
 
Total Japan
     
2,434,107
 
                 
Republic of Korea - 0.4%
         
Diversified Telecommunication Services - 0.4%
               
KINX, Inc.(a)
   
1,376
     
106,520
 
                 
Singapore - 3.7%
         
Specialized REITs - 3.7%
               
Digital Core REIT Management Pte, Ltd.
   
317,115
     
204,539
 
Keppel DC REIT
   
486,320
     
718,564
 
             
923,103
 
Total Singapore
     
923,103
 
                 
Sweden - 3.6%
         
Software - 3.6%(f)
               
Sinch AB(a)(c)(d)
   
240,488
     
894,374
 
                 
United Kingdom - 2.1%
         
Software - 2.1%
               
Bytes Technology Group PLC
   
67,749
     
528,500
 
                 
United States - 57.0%(e)
         
IT Services - 11.4%
               
Backblaze, Inc. - Class A(a)
   
2,017
     
15,309
 
Cloudflare, Inc. - Class A(a)
   
8,787
     
731,606
 
DigitalOcean Holdings, Inc.(a)(b)
   
4,613
     
169,251
 
Fastly, Inc. - Class A(a)(b)
   
7,016
     
124,885
 
Grid Dynamics Holdings, Inc.(a)
   
4,055
     
54,053
 
Kyndryl Holdings, Inc.(a)
   
12,308
     
255,760
 
MongoDB, Inc.(a)(b)
   
1,631
     
666,834
 
Okta, Inc.(a)(b)
   
8,447
     
764,707
 
Rackspace Technology, Inc.(a)
   
11,608
     
23,216
 
Unisys Corp.(a)
   
3,669
     
20,620
 
             
2,826,241
 
Software - 37.7%(f)
               
8x8, Inc.(a)
   
6,553
     
24,770
 
Alteryx, Inc. - Class A(a)
   
3,850
     
181,566
 
Appfolio, Inc. - Class A(a)(b)
   
1,918
     
332,274
 
Appian Corp. - Class A(a)
   
3,928
     
147,928
 
Blackbaud, Inc.(a)
   
2,889
     
250,476
 
Box, Inc. - Class A(a)(b)
   
7,726
     
197,863
 
CommVault Systems, Inc.(a)
   
2,349
     
187,568
 
Confluent, Inc. - Class A(a)(b)
   
16,514
     
386,428
 
Datadog, Inc. - Class A(a)(b)
   
5,816
     
705,946
 
Domo, Inc. - Class B(a)
   
1,935
     
19,911
 
Dropbox, Inc. - Class A(a)(b)
   
18,546
     
546,736
 
Elastic NV(a)
   
13,026
     
1,468,031
 
Everbridge, Inc.(a)
   
2,203
     
53,555
 
Gitlab, Inc. - Class A(a)(b)
   
8,298
     
522,442
 
HashiCorp, Inc. - Class A(a)(b)
   
10,400
     
245,856
 
Informatica, Inc. - Class A(a)(b)
   
15,616
     
443,338
 
Intapp, Inc.(a)
   
3,736
     
142,043
 
Jamf Holding Corp.(a)
   
6,748
     
121,869
 
MicroStrategy, Inc. - Class A(a)(b)
   
779
     
492,032
 
N-able, Inc.(a)
   
9,812
     
130,009
 
nCino, Inc.(a)(b)
   
6,056
     
203,663
 
Nutanix, Inc. - Class A(a)
   
13,056
     
622,641
 
PagerDuty, Inc.(a)(b)
   
5,005
     
115,866
 
RingCentral, Inc. - Class A(a)(b)
   
5,029
     
170,735
 
Samsara, Inc. - Class A(a)
   
24,617
     
821,716
 
Smartsheet, Inc. - Class A(a)
   
7,248
     
346,599
 
SolarWinds Corp.(a)
   
8,896
     
111,111
 
Teradata Corp.(a)
   
5,246
     
228,253
 
Zeta Global Holdings Corp. - Class A(a)
   
11,494
     
101,377
 
             
9,322,602
 
Technology Hardware, Storage & Peripherals - 7.9%
               
NetApp, Inc.(b)
   
7,418
     
653,971
 
Pure Storage, Inc. - Class A(a)
   
16,733
     
596,699
 
Super Micro Computer, Inc.(a)(b)
   
2,479
     
704,680
 
             
1,955,350
 
Total United States
     
14,104,193
 
TOTAL COMMON STOCKS (Cost $23,942,034)
     
24,521,535
 
                 
SHORT-TERM INVESTMENTS - 28.5%
               
Investments Purchased with Proceeds from Securities Lending - 27.6%
               
Mount Vernon Liquid Assets Portfolio, LLC, 5.61%(g)
   
6,833,496
     
6,833,496
 
                 
Money Market Funds - 0.9%
               
First American Government Obligations Fund - Class X, 5.28%(g)
   
211,852
     
211,852
 
TOTAL SHORT-TERM INVESTMENTS (Cost $7,045,348)
     
7,045,348
 
                 
TOTAL INVESTMENTS - 127.6% (Cost $30,987,382)
     
31,566,883
 
Liabilities in Excess of Other Assets - (27.6)%
     
(6,826,875
)
TOTAL NET ASSETS - 100.0%
         
$
24,740,008
 
                 
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. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.
 

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 December 31, 2023. The total market value of these securities was $6,544,641 which represented 26.5% of net assets.
(c)
Security considered restricted. The total market value of these securities was $894,374 which represented 3.6% of net assets as of December 31, 2023.
(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 December 31, 2023, the value of these securities total $894,374 or 3.6% of the Fund’s net assets.
(e)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(f)
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.
(g)
The rate shown represents the 7-day effective yield as of December 31, 2023.

 ETF Managers Trust

The following is a summary of significant accounting policies consistently followed by ETFMG Prime Junior Silver Miners ETF (“SILJ”), ETFMG Prime Cyber Security ETF (“HACK”), ETFMG Prime Mobile Payments ETF (“IPAY”), ETFMG Travel Tech ETF (“AWAY”), ETFMG Treatments, Testing and Advancements ETF (“GERM”), ETFMG Alternative Harvest U.S. ETF (“MJUS”), ETFMG Alternative Harvest ETF (“MJ”), ETFMG Wedbush ETFMG Video Game Tech ETF (“GAMR”), Wedbush ETFMG Global Cloud Technology ETF (“IVES”), BlueStar Israel Technology ETF (“ITEQ”), Etho Climate Leadership U.S. ETF (“ETHO”) and AI Powered Equity ETF (“AIEQ”)(each a “Fund,” or collectively the “Funds”).
 
Security Valuation. Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded on the valuation date (or at approximately 4:00 pm Eastern Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used.
 
Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith by ETF Managers Group, LLC (the “Adviser”), using procedures adopted by the Board of Trustees (the “Board”). When a security is “fair valued,” consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing procedures adopted by the Funds’ Board. The use of fair value pricing by a Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of December 31, 2023, AIEQ, HACK, AWAY, MJUS, IVES, ITEQ and ETHO did not hold any fair valued securities. As of December 31, 2023, SILJ held three fair valued securities, IPAY, MJ, GERM, and GAMR held one fair valued security.
 
As described above, the Funds utilize various methods to measure the fair value of their investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

Level 1
Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have 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 Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
 
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
 
The following is a summary of the inputs used to value the Funds’ investments as of December 31, 2023:

Wedbush ETFMG Global Cloud Technology ETF
 
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Investments:
                       
  Common Stocks
 
$
24,521,535
   
$
   
$
   
$
24,521,535
 
  Investments Purchased with Proceeds from Securities Lending(a)
   
     
     
     
6,833,496
 
  Money Market Funds
   
211,852
     
     
     
211,852
 
Total Investments
 
$
24,733,387
   
$
   
$
   
$
31,566,883
 
                                 
   
Refer to the Schedule of Investments for industry classifications.
 
   

(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.