|
ETFMG Sit Ultra Short ETF
|
||||||||
|
Schedule of Investments
|
||||||||
|
December 31, 2022 (Unaudited)
|
||||||||
|
Principal Amount
|
Value
|
|||||||
|
CORPORATE BONDS - 83.6%
|
||||||||
|
Bermuda - 2.6%
|
||||||||
|
Commercial and Industrial Machinery and Equipment Rental and Leasing - 2.6%
|
||||||||
|
Triton Container International, Ltd.
|
||||||||
|
1.150%, 06/07/2024 (a)
|
3,550,000
|
$
|
3,288,127
|
|||||
|
Ireland - 1.1%
|
||||||||
|
Capital Goods - 1.1%
|
||||||||
|
AerCap Ireland Capital DAC / AerCap Global Aviation Trust
|
||||||||
|
1.750%, 10/29/2024
|
1,500,000
|
1,382,175
|
||||||
|
United Kingdom - 1.8%
|
||||||||
|
Banks - 1.8%
|
||||||||
|
Barclays PLC
|
||||||||
|
6.024%, (3 Month LIBOR USD + 1.380%), 05/16/2024 (b)
|
2,281,000
|
2,281,104
|
||||||
|
United States - 78.1%
|
||||||||
|
Automotive - 7.1%
|
||||||||
|
American Honda Finance Corp.
|
||||||||
|
4.815%, (3 Month LIBOR USD + 0.150%), 02/22/2023 (b)
|
575,000
|
574,757
|
||||||
|
4.962%, (3 Month LIBOR USD + 0.370%), 05/10/2023 (b)
|
450,000
|
449,686
|
||||||
|
General Motors Financial Co., Inc.
|
||||||||
|
4.578%, (SOFR + 0.760%), 03/08/2024 (b)
|
2,244,000
|
2,211,884
|
||||||
|
4.416%, (SOFR + 0.620%), 10/15/2024 (b)
|
1,000,000
|
972,216
|
||||||
|
Hyundai Capital America
|
||||||||
|
1.250%, 09/18/2023 (a)
|
2,564,000
|
2,485,567
|
||||||
|
Penske Truck Leasing Co. Lp / PTL Finance Corp.
|
||||||||
|
3.450%, 07/01/2024 (a)
|
2,200,000
|
2,126,552
|
||||||
|
8,820,662
|
||||||||
|
Banks - 18.4%
|
||||||||
|
Bank of America Corp.
|
||||||||
|
4.963%, (BSBY3M + 0.430%), 05/28/2024 (b)
|
1,704,000
|
1,688,391
|
||||||
|
3.864%, (3 Month LIBOR USD + 0.940%), 07/23/2024 (b)
|
1,194,000
|
1,183,459
|
||||||
|
Citigroup, Inc.
|
||||||||
|
3.352%, (3 Month LIBOR USD + 0.897%), 04/24/2025 (b)
|
2,557,000
|
2,478,766
|
||||||
|
0.981%, (SOFR + 0.669%), 05/01/2025 (b)
|
2,000,000
|
1,873,009
|
||||||
|
Citizens Financial Group, Inc.
|
||||||||
|
3.750%, 07/01/2024
|
500,000
|
477,906
|
||||||
|
Comerica Bank
|
||||||||
|
4.000%, 07/27/2025
|
1,436,000
|
1,394,881
|
||||||
|
JPMorgan Chase & Co.
|
||||||||
|
3.845%, (SOFR + 0.980%), 06/07/2025 (b)
|
2,500,000
|
2,446,662
|
||||||
|
KeyBank NA
|
||||||||
|
4.150%, 08/08/2025
|
2,100,000
|
2,056,608
|
||||||
|
Manufacturers & Traders Trust Co.
|
||||||||
|
5.400%, 11/21/2025
|
1,250,000
|
1,258,955
|
||||||
|
M&T Bank Corp.
|
||||||||
|
5.007%, (3 Month LIBOR USD + 0.680%), 07/26/2023 (b)
|
1,005,000
|
1,005,319
|
||||||
|
PNC Bank NA
|
||||||||
|
3.875%, 04/10/2025
|
2,268,000
|
2,212,795
|
||||||
|
The Huntington National Bank
|
||||||||
|
4.008%, (SOFR + 1.205%), 05/16/2025 (b)
|
850,000
|
832,866
|
||||||
|
Truist Bank
|
||||||||
|
3.689%, (3 Month LIBOR USD + 0.735%), 08/02/2024 (b)
|
3,300,000
|
3,271,225
|
||||||
|
Webster Financial Corp.
|
||||||||
|
4.375%, 02/15/2024
|
750,000
|
735,498
|
||||||
|
22,916,340
|
||||||||
|
Capital Goods - 0.8%
|
||||||||
|
Air Lease Corp.
|
||||||||
|
0.800%, 08/18/2024
|
1,040,000
|
958,770
|
||||||
|
Communication Equipment - 0.5%
|
||||||||
|
Motorola Solutions, Inc.
|
||||||||
|
4.000%, 09/01/2024
|
580,000
|
569,962
|
||||||
|
Commercial and Industrial Machinery - 0.4%
|
||||||||
|
Caterpillar Financial Services Corp.
|
||||||||
|
5.116%, (3 Month LIBOR USD + 0.510%), 05/15/2023 (b)
|
495,000
|
495,388
|
||||||
|
Consumer Services - 0.8%
|
||||||||
|
7-Eleven, Inc.
|
||||||||
|
0.800%, 02/10/2024 (a)
|
1,000,000
|
951,917
|
||||||
|
Diversified Financial Services - 3.6%
|
||||||||
|
BGC Partners, Inc.
|
||||||||
|
5.375%, 07/24/2023
|
1,245,000
|
1,239,352
|
||||||
|
Morgan Stanley
|
||||||||
|
5.770%, (3 Month LIBOR USD + 1.220%), 05/08/2024 (b)
|
2,242,000
|
2,246,175
|
||||||
|
3.620%, (SOFR + 1.160%), 04/17/2025 (b)
|
1,000,000
|
976,646
|
||||||
|
4,462,173
|
||||||||
|
Health Care Equipment & Supplies - 3.4%
|
||||||||
|
Thermo Fisher Scientific, Inc.
|
||||||||
|
4.160%, (SOFRINDX + 0.350%), 04/18/2023 (b)
|
1,040,000
|
1,037,710
|
||||||
|
4.200%, (SOFRINDX + 0.390%), 10/18/2023 (b)
|
1,750,000
|
1,743,937
|
||||||
|
Zimmer Biomet Holdings, Inc.
|
||||||||
|
1.450%, 11/22/2024
|
1,500,000
|
1,396,287
|
||||||
|
4,177,934
|
||||||||
|
Insurance - 21.2%
|
||||||||
|
Brighthouse Financial Global Funding
|
||||||||
|
4.499%, (SOFR + 0.760%), 04/12/2024 (a)(b)
|
3,693,000
|
3,658,306
|
||||||
|
Brown & Brown, Inc.
|
||||||||
|
4.200%, 09/15/2024
|
3,453,000
|
3,392,353
|
||||||
|
CNO Global Funding
|
||||||||
|
1.650%, 01/06/2025 (a)
|
3,000,000
|
2,783,481
|
||||||
|
Equitable Financial Life Global Funding
|
||||||||
|
4.082%, (SOFR + 0.390%), 04/06/2023 (a)(b)
|
995,000
|
995,049
|
||||||
|
F&G Global Funding
|
||||||||
|
0.900%, 09/20/2024 (a)
|
2,700,000
|
2,470,050
|
||||||
|
Fairfax US, Inc.
|
||||||||
|
4.875%, 08/13/2024 (a)
|
745,000
|
727,548
|
||||||
|
Finial Holdings, Inc.
|
||||||||
|
7.125%, 10/15/2023
|
1,415,000
|
1,435,705
|
||||||
|
Health Care Service Corp A Mutual Legal Reserve Corp.
|
||||||||
|
1.500%, 06/01/2025 (a)
|
2,000,000
|
1,840,742
|
||||||
|
Jackson Financial, Inc.
|
||||||||
|
1.125%, 11/22/2023
|
500,000
|
481,586
|
||||||
|
Jackson National Life Global Funding
|
||||||||
|
3.875%, 06/11/2025 (a)
|
718,000
|
690,536
|
||||||
|
John Hancock Life Insurance Co.
|
||||||||
|
7.375%, 02/15/2024 (a)(b)
|
495,000
|
504,777
|
||||||
|
Metropolitan Life Insurance Co.
|
||||||||
|
7.875%, 02/15/2024 (a)
|
1,695,000
|
1,732,449
|
||||||
|
Nationwide Mutual Insurance Co.
|
||||||||
|
7.059%, (3 Month LIBOR USD + 2.290%), 12/15/2024 (a)(b)(c)
|
3,000,000
|
2,992,950
|
||||||
|
Pacific Life Insurance Co.
|
||||||||
|
7.900%, 12/30/2023 (a)
|
1,700,000
|
1,732,900
|
||||||
|
Reliance Standard Life Global Funding II
|
||||||||
|
2.500%, 10/30/2024 (a)
|
1,000,000
|
946,684
|
||||||
|
26,385,116
|
||||||||
|
Multi-Utilites - 16.6%
|
||||||||
|
Atlantic City Electric Co.
|
||||||||
|
3.375%, 09/01/2024
|
535,000
|
517,518
|
||||||
|
Baltimore Gas and Electric Co.
|
||||||||
|
3.350%, 07/01/2023
|
870,000
|
863,855
|
||||||
|
CenterPoint Energy, Inc.
|
||||||||
|
4.655%, (SOFRINDX + 0.650%), 05/13/2024 (b)
|
2,473,000
|
2,444,689
|
||||||
|
CMS Energy Corp.
|
||||||||
|
3.875%, 03/01/2024
|
1,845,000
|
1,806,164
|
||||||
|
DTE Energy Co.
|
||||||||
|
4.220%, 11/01/2025
|
1,000,000
|
984,090
|
||||||
|
Duke Energy Corp.
|
||||||||
|
3.469%, (SOFR + 0.250%), 06/10/2023 (b)
|
1,836,000
|
1,831,027
|
||||||
|
Florida Power & Light Co.
|
||||||||
|
0.436%, (SOFRINDX + 0.250%), 05/10/2023 (b)
|
1,540,000
|
1,537,501
|
||||||
|
4.119%, (SOFRINDX + 0.380%), 01/12/2024 (b)
|
899,000
|
892,764
|
||||||
|
National Rural Utilities Cooperative Finance Corp.
|
||||||||
|
4.503%, (SOFR + 0.400%), 08/07/2023 (b)
|
1,792,000
|
1,785,887
|
||||||
|
NSTAR Electric Co.
|
||||||||
|
3.250%, 11/15/2025
|
805,000
|
762,864
|
||||||
|
PacifiCorp
|
||||||||
|
3.350%, 07/01/2025
|
1,000,000
|
959,880
|
||||||
|
Potomac Electric Power Co.
|
||||||||
|
3.600%, 03/15/2024
|
1,000,000
|
983,819
|
||||||
|
Public Service Co. of Colorado
|
||||||||
|
2.900%, 05/15/2025
|
283,000
|
270,070
|
||||||
|
Public Service Electric and Gas Co.
|
||||||||
|
3.050%, 11/15/2024
|
585,000
|
566,098
|
||||||
|
3.000%, 05/15/2025
|
460,000
|
441,154
|
||||||
|
The Southern Co.
|
||||||||
|
2.950%, 07/01/2023
|
2,000,000
|
1,981,011
|
||||||
|
Union Electric Co.
|
||||||||
|
3.500%, 04/15/2024
|
1,000,000
|
982,023
|
||||||
|
Wisconsin Electric Power Co.
|
||||||||
|
3.100%, 06/01/2025
|
450,000
|
430,483
|
||||||
|
5.350%, 11/10/2025
|
589,000
|
596,662
|
||||||
|
20,637,559
|
||||||||
|
Oil, Gas & Consumable Fuels - 1.9%
|
||||||||
|
Kinder Morgan, Inc.
|
||||||||
|
3.150%, 01/15/2023
|
500,000
|
499,574
|
||||||
|
Magellan Midstream Partners LP
|
||||||||
|
3.200%, 03/15/2025
|
1,992,000
|
1,901,889
|
||||||
|
2,401,463
|
||||||||
|
Professional Services - 0.7%
|
||||||||
|
Equifax, Inc.
|
||||||||
|
3.950%, 06/15/2023
|
842,000
|
837,345
|
||||||
|
Retailing - 1.6%
|
||||||||
|
Genuine Parts Co.
|
||||||||
|
1.750%, 02/01/2025
|
2,089,000
|
1,953,410
|
||||||
|
Transportation - 1.1%
|
||||||||
|
United Parcel Service, Inc.
|
||||||||
|
4.193%, (3 Month LIBOR USD + 0.450%), 04/01/2023 (b)
|
1,345,000
|
1,345,366
|
||||||
|
Total United States
|
96,913,405
|
|||||||
|
TOTAL CORPORATE BONDS (Cost $106,450,066)
|
103,864,811
|
|||||||
|
MUNICIPAL BONDS - 3.8%
|
||||||||
|
United States - 3.8%
|
||||||||
|
Colorado Bridge Enterprise
|
||||||||
|
0.923%, 12/31/2023
|
2,000,000
|
1,915,384
|
||||||
|
Homewood Educational Building Authority
|
||||||||
|
2.000%, 12/01/2023
|
620,000
|
601,078
|
||||||
|
Indiana Finance Authority
|
||||||||
|
0.955%, 03/01/2024
|
450,000
|
430,073
|
||||||
|
Iowa Student Loan Liquidity Corp.
|
||||||||
|
3.586%, 12/01/2023
|
1,000,000
|
987,093
|
||||||
|
Kentucky Housing Corp.
|
||||||||
|
0.800%, 01/01/2024
|
350,000
|
335,558
|
||||||
|
Minnesota Housing Finance Agency
|
||||||||
|
2.498%, 07/01/2023
|
245,000
|
241,857
|
||||||
|
North Springs Improvement District
|
||||||||
|
1.000%, 05/01/2023
|
215,000
|
212,406
|
||||||
|
TOTAL MUNICIPAL BONDS (Cost $4,885,664)
|
4,723,449
|
|||||||
|
U.S. GOVERNMENT AGENCY ISSUES - 5.2%
|
||||||||
|
United States - 5.2%
|
||||||||
|
Federal Home Loan Banks
|
||||||||
|
4.000%, 08/28/2025
|
2,000,000
|
1,965,105
|
||||||
|
5.500%, 11/24/2025
|
1,000,000
|
999,941
|
||||||
|
Federal Home Loan Mortgage Corp.
|
||||||||
|
4.050%, 07/21/2025
|
1,800,000
|
1,767,385
|
||||||
|
Federal National Mortgage Association
|
||||||||
|
4.125%, 08/28/2025
|
1,700,000
|
1,669,189
|
||||||
|
TOTAL U.S. GOVERNMENT AGENCY ISSUES (Cost $6,500,000)
|
6,401,620
|
|||||||
|
SHORT-TERM INVESTMENTS - 7.4%
|
||||||||
|
U.S. Treasury Bills - 2.4%
|
||||||||
|
United States Treasury Bill
|
|
|
||||||
|
4.63%, 06/22/2023
|
3,000,000 |
2,935,882 |
||||||
|
U.S. Treasury Debt - 2.4%
|
||||||||
|
United States Cash Management Bill
|
|
|
||||||
|
2.63%, 01/10/2023
|
3,000,000 |
2,998,053 |
||||||
|
Money Market Funds - 2.6%
|
||||||||
|
First American Government Obligations Fund - Class X, 4.08% (d)
|
3,223,754
|
3,223,754
|
||||||
|
TOTAL SHORT-TERM INVESTMENTS (Cost $9,157,464)
|
9,157,688
|
|||||||
|
Total Investments (Cost $126,993,194) - 100.0%
|
124,147,568
|
|||||||
|
Other Assets in Excess of Liabilities - 0.0%
|
28,058
|
|||||||
|
TOTAL NET ASSETS - 100.0%
|
$
|
124,175,626
|
||||||
|
Percentages are stated as a percent of net assets.
|
||||||||
|
PLC
|
Public Limited Company
|
||||
|
(a)
|
Restriced security as defined in Rule 144(a) under the Securities Act of 1933. Resale to the public may require registration or may extend only to qualified
institutional buyers. At December 31, 2022, the market value of these securities total $29,927,635, which represents 24.10% of total net assets.
|
||||
|
(b)
|
Variable rate security based on a reference index and spread. The rate reported is the rate in effect as of December 31, 2022.
|
||||
|
(c)
|
Variable rate security. The coupon is based on an underlying pool of assets. The rate reported is the rate in effect as of December 31, 2022.
|
||||
|
(d)
|
The rate shown is the seven-day yield at period end.
|
||||
|
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 and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services (“Fund
Services”).
|
|||||
|
The accompanying notes are an integral part of these financial statements.
|
|||||
|
The following is a summary of significant accounting policies consistently followed by ETFMG Prime Junior Silver Miners ETF (“SILJ”), ETFMG Prime 2x Daily Junior
Silver Miners ETF (“SILX”), ETFMG Prime Cyber Security ETF (“HACK”), ETFMG Prime Mobile Payments ETF (“IPAY”), ETFMG Sit Ultra Short ETF (“VALT”), 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 2x Daily Travel Tech ETF (“AWYX”), 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 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, 2022,
AIEQ, HACK, VALT, AWAY, GERM, MJUS, SILX, AWYX, IVES, ITEQ and ETHO did not hold any fair valued securities. As of December 31, 2022, SILJ held three fair valued securities and MJ, IPAY 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, 2022:
|
||||||||||||||||||
|
VALT
|
||||||||||||||||
|
Assets^
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
|
Fixed Income
|
||||||||||||||||
|
Corporate Bonds
|
$
|
-
|
$
|
103,864,811
|
$
|
-
|
$
|
103,864,811
|
||||||||
|
Municipal Bonds
|
-
|
4,723,449
|
-
|
4,723,449
|
||||||||||||
|
U.S. Government Agency Issues
|
-
|
6,401,620
|
-
|
6,401,620
|
||||||||||||
|
Short-Term Investments
|
9,157,688
|
-
|
-
|
9,157,688
|
||||||||||||
|
Total Investments in Securities
|
$
|
9,157,688
|
$
|
114,989,880
|
$
|
-
|
$
|
124,147,568
|
||||||||
|
(1) Includes a security valued at $0.
|
||||||||
|
^ See Schedule of Investments for classifications by country and industry
|
||||||||
|
* Certain investments that are measured at fair value used 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 presented in the Schedules of Investments.
|
||||||||
|
** Investment was purchased with collateral.
|
||||||||
|
*** Swap contracts are derivative instruments, which are presented at the unrealized appreciation/depreciation on the instrument.
|
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