Amplify Alternative Harvest ETF
  
Schedule of Investments
  
December 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 47.0%
  
Shares
    
Value
 
Consumer Discretionary - 1.4%
        
GrowGeneration Corp. (a)
    
1,332,151
    
$
2,251,335
  
                 
Consumer Staples - 6.6%
          
Altria Group, Inc.
    
25,064
      
1,310,597
  
British American Tobacco PLC
    
39,056
      
1,408,710
  
Imperial Brands PLC
    
45,039
      
1,440,061
  
Philip Morris International, Inc.
    
10,286
      
1,237,920
  
Scandinavian Tobacco Group AS (b)(c)
    
90,325
      
1,195,286
  
Turning Point Brands, Inc.
    
28,900
      
1,736,890
  
Village Farms International, Inc. (a)(d)
    
2,431,488
      
1,874,677
  
             
10,204,141
  
                 
Health Care - 36.6%(e)
          
Aurora Cannabis, Inc. (a)(d)
    
1,309,578
      
5,565,707
  
Canopy Growth Corp. (a)(d)
    
2,263,873
      
6,203,012
  
Cronos Group, Inc. (a)
    
4,884,980
      
9,867,660
  
High Tide, Inc. (a)
    
1,778,875
      
5,466,992
  
Jazz Pharmaceuticals PLC (a)
    
12,405
      
1,527,676
  
Organigram Holdings, Inc. (a)(d)
    
1,723,004
      
2,774,036
  
SNDL, Inc. (a)
    
6,358,765
      
11,382,189
  
Tilray Brands, Inc. (a)(d)
    
10,556,576
      
14,040,246
  
             
56,827,518
  
                 
Industrials - 0.0%(f)
          
Empresas ICA SAB de CV (a)(g)
    
155,893
      
0
  
                 
Information Technology - 1.7%
          
WM Technology, Inc. (a)
    
1,952,731
      
2,694,769
  
                 
Materials - 0.7%
          
Scotts Miracle-Gro Co.
    
15,693
      
1,041,074
  
TOTAL COMMON STOCKS (Cost $98,273,170)
      
73,018,837
  
                 
AFFILIATED EXCHANGE TRADED FUNDS - 41.1%
                
Amplify U.S. Alternative Harvest ETF (d)(h)(i)
    
76,590,909
      
63,876,818
  
TOTAL AFFILIATED EXCHANGE TRADED FUNDS (Cost $137,812,769)
      
63,876,818
  
                 
REAL ESTATE INVESTMENT TRUSTS - 11.1%
                
Advanced Flower Capital, Inc.
    
405,872
      
3,380,914
  
Chicago Atlantic Real Estate Finance, Inc.
    
386,056
      
5,952,983
  
Innovative Industrial Properties, Inc.
    
117,259
      
7,814,140
  
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $19,208,672)
      
17,148,037
  
                 
SHORT-TERM INVESTMENTS - 19.9%
                
Investments Purchased with Proceeds from Securities Lending - 18.6%
                
First American Government Obligations Fund - Class X, 4.39% (j)
    
28,870,590
      
28,870,590
  
                 
Money Market Funds - 1.3%
                
Invesco Government & Agency Portfolio - Institutional Class, 4.42% (j)
    
2,043,081
      
2,043,081
  
TOTAL SHORT-TERM INVESTMENTS (Cost $30,913,671)
      
30,913,671
  
                 
TOTAL INVESTMENTS - 119.1% (Cost $286,208,282)
      
184,957,363
  
Liabilities in Excess of Other Assets - (19.1)%
      
(29,667,800
)
TOTAL NET ASSETS - 100.0%
          
$
155,289,563
  
two
      
–
%
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.
  

AS - Aksjeselskap
PLC - Public Limited Company
SAB de CV - Sociedad Anónima Bursátil de Capital Variable

(a)
Non-income producing security.
(b)
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, 2024, the value of these securities total $1,195,286 or 0.8% of the Fund’s net assets.
(c)
Security is exempt from registration pursuant to Regulation S under the Securities Act of 1933, as amended. As of December 31, 2024, the value of these securities total $1,195,286 or 0.8% of the Fund’s net assets.
(d)
All or a portion of this security is on loan as of December 31, 2024. The total market value of these securities was $25,950,140 which represented 16.7% of net assets.
(e)
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.
(f)
Represents less than 0.05% of net assets.
(g)
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, 2024.
(h)
Fair value of this security exceeds 25% of the Fund’s net assets.  Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov.
(i)
Affiliated company as defined by the Investment Company Act of 1940.
(j)
The rate shown represents the 7-day annualized effective yield as of December 31, 2024.


Security Name
  
Value at
September 30, 2024
    
Purchases
    
Sales
    
Net Realized
Gain (Losses)
    
Net Change in Unrealized Appreciation (Depreciation)
    
Dividend Income
    
Value at
December 31, 2024
    
Ending Shares
  
Amplify U.S. Alternative Harvest ETF
    
111,134,471
      
5,402,168
      
(762,527
)
    
(1,828,451
)
    
(50,068,843
)
    
17
      
63,876,818
      
76,590,909
  
   
$
111,134,471
    
$
5,402,168
    
$
(762,527
)
  
$
(1,828,451
)
  
$
(50,068,843
)
  
$
17
    
$
63,876,818
      
76,590,909
  

Summary of Fair Value Disclosure as of December 31, 2024 (Unaudited)
 
Amplify Alternative Harvest ETF has adopted authoritative fair value accounting standards which establish an authoritative 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 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 would be 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, 2024:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
73,018,837
    
$
–
    
$
–
(a) 
  
$
73,018,837
  
  Affiliated Exchange Traded Funds
    
63,876,818
      
–
      
–
      
63,876,818
  
  Real Estate Investment Trusts
    
17,148,037
      
–
      
–
      
17,148,037
  
  Investments Purchased with Proceeds from Securities Lending
    
28,870,590
      
–
      
–
      
28,870,590
  
  Money Market Funds
    
2,043,081
      
–
      
–
      
2,043,081
  
Total Investments
  
$
184,957,363
    
$
–
    
$
–
(a) 
  
$
184,957,363
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  
   
Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were [no] transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year’s annual report.
  

(a)
Amount is less than $0.50.

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 December 31, 2024, 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