0001752724-22-154796.txt : 20220705
0001752724-22-154796.hdr.sgml : 20220705
20220705125514
ACCESSION NUMBER: 0001752724-22-154796
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 4
CONFORMED PERIOD OF REPORT: 20220430
FILED AS OF DATE: 20220705
DATE AS OF CHANGE: 20220705
EFFECTIVENESS DATE: 20220705
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Exchange Listed Funds Trust
CENTRAL INDEX KEY: 0001547950
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22700
FILM NUMBER: 221063849
BUSINESS ADDRESS:
STREET 1: 10900 HEFNER POINTE DRIVE
STREET 2: SUITE 400
CITY: OKLAHOMA CITY
STATE: OK
ZIP: 73120
BUSINESS PHONE: 405-778-8377
MAIL ADDRESS:
STREET 1: 10900 HEFNER POINTE DRIVE
STREET 2: SUITE 400
CITY: OKLAHOMA CITY
STATE: OK
ZIP: 73120
FORMER COMPANY:
FORMER CONFORMED NAME: Exchange Traded Concepts Trust II
DATE OF NAME CHANGE: 20120420
0001547950
S000065357
QRAFT AI-Enhanced U.S. Large Cap ETF
C000211432
QRAFT AI-Enhanced U.S. Large Cap ETF
QRFT
0001547950
S000065358
QRAFT AI-Enhanced U.S. Large Cap Momentum ETF
C000211433
QRAFT AI-Enhanced U.S. Large Cap Momentum ETF
AMOM
0001547950
S000067182
QRAFT AI-Enhanced U.S. High Dividend ETF
C000216128
QRAFT AI-Enhanced U.S. High Dividend ETF
HDIV
0001547950
S000068386
Cabana Target Drawdown 5 ETF
C000218790
Cabana Target Drawdown 5 ETF
TDSA
0001547950
S000068387
Cabana Target Drawdown 7 ETF
C000218791
Cabana Target Drawdown 7 ETF
TDSB
0001547950
S000068388
Cabana Target Drawdown 10 ETF
C000218792
Cabana Target Drawdown 10 ETF
TDSC
0001547950
S000068389
Cabana Target Drawdown 13 ETF
C000218793
Cabana Target Drawdown 13 ETF
TDSD
0001547950
S000068390
Cabana Target Drawdown 16 ETF
C000218794
Cabana Target Drawdown 16 ETF
TDSE
0001547950
S000069970
QRAFT AI-Enhanced U.S. Next Value ETF
C000222820
QRAFT AI-Enhanced U.S. Next Value ETF
NVQ
0001547950
S000071948
Asian Growth Cubs ETF
C000227565
Asian Growth Cubs ETF
CUBS
0001547950
S000072146
Cabana Target Leading Sector Aggressive ETF
C000227936
Cabana Target Leading Sector Aggressive ETF
CLSA
0001547950
S000072147
Cabana Target Leading Sector Conservative ETF
C000227937
Cabana Target Leading Sector Conservative ETF
CLSC
0001547950
S000072148
Cabana Target Leading Sector Moderate ETF
C000227938
Cabana Target Leading Sector Moderate ETF
CLSM
N-CEN
1
primary_doc.xml
X0404
N-CEN
LIVE
0001547950
XXXXXXXX
811-22700
false
false
false
N-1A
S000068387
true
S000068389
true
S000069970
true
S000071948
true
S000068386
true
S000072148
true
S000068390
true
S000065358
true
S000072147
true
S000068388
true
S000067182
true
S000065357
true
S000072146
true
Exchange Listed Funds Trust
811-22700
0001547950
549300NACQI9T12KM079
10900 Hefner Pointe Drive
Suite 400
Oklahoma City
73120
US-OK
US
405-778-8377
The Bank of New York Mellon
240 Greenwich Street
New York
10286
1-212-495-1784
Records relating to its function as custodian and administrator
Cabana Asset Management
220 South School Avenue
Fayetteville
72701
479-442-6464
Records relating to its function as sub-advisor
Exchange Traded Concepts, LLC
10900 Hefner Pointe Drive
Suite 400
Oklahoma City
73120
405-943-9433
Records relating to its function as registrant and adviser
Foreside Fund Services, LLC
Three Canal Plaza
Suite 100
Portland
04101
207-553-7111
Records relating to its function as distributor
Dawn Global Limited
2nd Floor, the Le Gallais Building
54 Bath Street
St. Helier
JE
JE1 1FW
44 794-825-4411
Records relating to its function as sub-advisor
N
N
N
N-1A
18
Y
Linda Petrone
N/A
N
Stuart Strauss
N/A
N
Richard Hogan
N/A
Y
Timothy J. Jacoby
N/A
N
Matthew B. Fleischer
N/A
10900 Hefner Pointe Drive
Suite 400
Oklahoma
73120
XXXXXX
N
N
N
N
N
Foreside Fund Services, LLC
008-51293
000046106
N/A
N
N
Cohen & Company, Ltd.
925
N/A
N
N
N
N
N
N
Cabana Target Drawdown 7 ETF
S000068387
5493006OBDECTH2I1F82
N
0
0
0
Exchange-Traded Fund
Fund of Funds
N
N
N
N
N/A
N/A
N/A
Rule 6c-11 (17 CFR 270.6c-11)
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 17a-7 (17 CFR 270.17a-7)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
Cabana Asset Management
801-108439
000151418
N/A
N
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
431.85000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
4013.07000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
814.26000000
5259.00000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
1342785575.66000000
J.P. Morgan Securities LLC
008-35008
000000079
ZBUT11V806EZRVTWT807
1299193.42000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
165245123.25000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
674512576.35000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
491179387.90000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
120153090.36000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
143400277.59000000
2938575225.00000000
N
299325409.00000000
0.00000000
N
N
N
Cabana Target Drawdown 13 ETF
S000068389
5493008NQZJAVJ00YM84
N
0
0
0
Exchange-Traded Fund
Fund of Funds
N
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 17a-7 (17 CFR 270.17a-7)
Rule 6c-11 (17 CFR 270.6c-11)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
Cabana Asset Management
801-108439
000151418
N/A
N
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
114.95000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
83.40000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
291.73000000
490.00000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
820843923.31000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
1602824455.04000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
240044212.55000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
523150784.54000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
135653814.33000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
46435464.37000000
3368952654.00000000
N
299623716.00000000
0.00000000
N
N
N
QRAFT AI-Enhanced U.S. Next Value ETF
S000069970
549300QHPBQI7PS32K07
N
0
0
0
Exchange-Traded Fund
Y
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 6c-11 (17 CFR 270.6c-11)
N
N
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
4.21000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
3052.10000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
4581.06000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
2346.89000000
9984.00000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
19079176.47000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
4040042.27000000
INOVALON HOLDINGS, INC.
N/A
N/A
5493007H9QSF4NHIHL56
24313.00000000
DOMTAR CORPORATION
N/A
N/A
XYSIJOU3HNVROZWNA008
25252.50000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
5964379.26000000
29133164.00000000
N
5934837.00000000
0.00000000
N
N
N
Asian Growth Cubs ETF
S000071948
549300AK5PF3QNEFUT05
Y
0
0
0
Exchange-Traded Fund
Y
N
N
N
N/A
N/A
N/A
Rule 6c-11 (17 CFR 270.6c-11)
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
2021-05-31
Kingsway Capital Partners Limited
N/A
000291956
213800CDKHX9H9BNO767
N
GB
Dawn Global Limited
801-122263
000315449
25490001HFTHKTCL7I48
N
JE
Kingsway Capital Partners Limited
N/A
000291956
213800CDKHX9H9BNO767
GB
2022-01-31
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
Y
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Y
HSBC Bangladesh
N/A
BD
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank AG (Pakistan)
N/A
PK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited, Vietnam Branch
2HI3YI5320L3RW6NJ957
VN
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
PT Deutsche Sekuritas Indonesia
529900BYFVEGGOM24P36
ID
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank AG (Phillipines)
N/A
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
226.14000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
227.66000000
CLSA AMERICAS, LLC
008-69166
000165533
213800M2DXATWY7JMS07
614.85000000
Financial Brokerage Group
N/A
N/A
558600U9YMGSR4KAHP73
EG
23830.72000000
FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC
008-69711
000282266
549300H90VV8DK5UM624
0.19000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
397.40000000
Topline Securities Limited
N/A
N/A
2549000HYYAUPFRFTQ09
PA
279.89000000
BRAC EPL Stock Brokerage Ltd.
N/A
N/A
549300IBT66DQE0R7L71
BD
15081.82000000
40659.00000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
608909.01000000
CREDIT SUISSE SECURITIES (USA) LLC
008-00422
000000816
1V8Y6QCX6YMJ2OELII46
120860.66000000
729770.00000000
N
10614013.00000000
0.00000000
N
N
N
Cabana Target Drawdown 5 ETF
S000068386
549300BWH8OH1HPKPM54
N
0
0
0
Exchange-Traded Fund
Fund of Funds
N
N
N
N
N/A
N/A
N/A
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 17a-7 (17 CFR 270.17a-7)
Rule 6c-11 (17 CFR 270.6c-11)
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
Cabana Asset Management
801-108439
000151418
N/A
N
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
94.97000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
32.61000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
3.84000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
627.91000000
759.00000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
101428864.86000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
40580415.40000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
26556816.12000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
25899181.12000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
83515431.92000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
6700918.20000000
284681628.00000000
N
29461191.00000000
0.00000000
N
N
N
Cabana Target Leading Sector Moderate ETF
S000072148
549300BQKRF74M4QWC87
Y
0
0
0
Exchange-Traded Fund
Fund of Funds
Y
N
N
N
N/A
N/A
N/A
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 6c-11 (17 CFR 270.6c-11)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 17a-7 (17 CFR 270.17a-7)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
2021-07-02
Cabana Asset Management
801-108439
000151418
N/A
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
Y
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Y
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
27.60000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
130.35000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
12.85000000
171.00000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
177408849.42000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
38505923.91000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
332244488.80000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
517550353.41000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
25456534.74000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
394079528.24000000
1485245679.00000000
N
167714275.00000000
0.00000000
N
N
N
Cabana Target Drawdown 16 ETF
S000068390
5493004Y2TBEETZ0TG26
N
0
0
0
Exchange-Traded Fund
Fund of Funds
N
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 6c-11 (17 CFR 270.6c-11)
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 17a-7 (17 CFR 270.17a-7)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
Cabana Asset Management
801-108439
000151418
N/A
N
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
64.31000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
124.37000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
24.64000000
213.00000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
120371962.56000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
378768769.92000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
10334637.73000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
866884906.85000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
466034486.79000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
66574713.32000000
1908969477.00000000
N
161517813.00000000
0.00000000
N
N
N
QRAFT AI-Enhanced U.S. Large Cap Momentum ETF
S000065358
549300GE7TLHVR9RWF36
N
0
0
0
Exchange-Traded Fund
Y
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 6c-11 (17 CFR 270.6c-11)
N
N
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
5435.28000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
20990.89000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
12484.44000000
38911.00000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
58079364.15000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
15963650.41000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
131912400.98000000
205955416.00000000
N
27611542.00000000
0.00000000
N
N
N
Cabana Target Leading Sector Conservative ETF
S000072147
549300YNROPRBDPGH060
Y
0
0
0
Exchange-Traded Fund
Fund of Funds
Y
N
N
N
N/A
N/A
N/A
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 17a-7 (17 CFR 270.17a-7)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 6c-11 (17 CFR 270.6c-11)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
2021-07-02
Cabana Asset Management
801-108439
000151418
N/A
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
Y
Bloomberg L.P.
549300B56MD0ZC402L06
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
597.16000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
4.94000000
602.00000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
104921421.32000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
719423499.45000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
1235270225.18000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
382638546.08000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
2306543358.41000000
J.P. Morgan Securities LLC
008-35008
000000079
ZBUT11V806EZRVTWT807
25980582.90000000
4774777633.00000000
N
120136220.00000000
0.00000000
N
N
N
Cabana Target Drawdown 10 ETF
S000068388
5493009RVUHEJ6BIBS77
N
0
0
0
Exchange-Traded Fund
Fund of Funds
N
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 17a-7 (17 CFR 270.17a-7)
Rule 6c-11 (17 CFR 270.6c-11)
Rule 12d1-4 (17 CFR 270.12d1-4)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
Cabana Asset Management
801-108439
000151418
N/A
N
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
799.62000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
1906.63000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
519.80000000
3226.00000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
161112089.63000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
2874593874.74000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
229647235.13000000
J.P. Morgan Securities LLC
008-35008
000000079
ZBUT11V806EZRVTWT807
1362691.32000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
1151536150.31000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
1962912636.67000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
525060895.24000000
6906225573.00000000
N
780867033.00000000
0.00000000
N
N
N
QRAFT AI-Enhanced U.S. High Dividend ETF
S000067182
549300WTV6FO6R49MB39
N
0
0
0
Exchange-Traded Fund
Y
N
N
N
N/A
N/A
N/A
Rule 6c-11 (17 CFR 270.6c-11)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
3.83000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
1924.09000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
630.60000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
1308.51000000
3867.00000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
10333105.34000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
5759711.88000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
3115860.94000000
19208678.00000000
N
6080919.00000000
0.00000000
N
N
N
QRAFT AI-Enhanced U.S. Large Cap ETF
S000065357
549300ZX5YKWOIS35E78
N
0
0
0
Exchange-Traded Fund
Y
N
N
N
N/A
N/A
N/A
Rule 6c-11 (17 CFR 270.6c-11)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Refinitiv US LLC
213800HQORQAP68CJJ04
N
N
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
N
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
1343.73000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
2689.32000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
1182.94000000
5216.00000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
31172304.35000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
16989377.81000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
21582457.52000000
ALEXION PHARMACEUTICALS, INC.
N/A
N/A
M1YXUUZR0EIMU8T0EM75
3360.00000000
69747500.00000000
N
19318176.00000000
0.00000000
N
N
N
Cabana Target Leading Sector Aggressive ETF
S000072146
54930039JPMH1A29WZ64
Y
0
0
0
Exchange-Traded Fund
Fund of Funds
Y
N
N
N
N/A
N/A
N/A
Rule 12d1-4 (17 CFR 270.12d1-4)
Rule 17a-7 (17 CFR 270.17a-7)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 6c-11 (17 CFR 270.6c-11)
Y
Y
N
N
Exchange Traded Concepts, LLC
801-70485
000151197
549300BB5DRIKK8VVV91
2021-07-02
Cabana Asset Management
801-108439
000151418
N/A
N
The Bank of New York Mellon
085-05006
HPFHU0OQ28E4N0NFVK49
N
N
Y
Refinitiv US LLC
213800HQORQAP68CJJ04
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Y
The Depository Trust Company
549300HBJLRO8YFMI370
N
Y
Securities depository - rule 17f-4 (17 CFR 270.17f-4)
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
The Bank of New York Mellon
HPFHU0OQ28E4N0NFVK49
N
N
Y
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
200.33000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
21.81000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
106.12000000
328.00000000
GOLDMAN SACHS & CO. LLC
008-00129
000000361
FOR8UP27PHTHYVLBNG30
713224498.03000000
VIRTU AMERICAS LLC
008-68193
000149823
549300RA02N3BNSWBV74
663291358.38000000
BOFA SECURITIES, INC.
008-69787
000283942
549300HN4UKV1E2R3U73
268295693.87000000
Jane Street Execution Services, LLC
008-69254
000167280
549300HXJLXCPDWAH070
129781192.72000000
MISCHLER FINANCIAL GROUP, INC.
008-48067
000037818
2549004IPXPSM9EJFC92
545251658.01000000
CITADEL SECURITIES LLC
008-53574
000116797
12UUJYTN7D3SW8KCSG25
11410962.36000000
2331255363.00000000
N
278569817.00000000
0.00000000
N
N
N
Cabana Target Drawdown 7 ETF
S000068387
Y
25000.00000000
0.55000000
0.13000000
99.45000000
0.13000000
0.66000000
1.30000000
99.34000000
1.30000000
0.00000000
501.19000000
0.00000000
0.00000000
501.19000000
0.00000000
0.00000000
500.88000000
0.00000000
0.00000000
500.88000000
0.00000000
Y
Cabana Target Drawdown 13 ETF
S000068389
Y
25000.00000000
0.39000000
0.16000000
99.61000000
0.16000000
0.77000000
1.06000000
99.23000000
1.06000000
0.00000000
502.89000000
0.00000000
0.00000000
502.89000000
0.00000000
0.00000000
501.32000000
0.00000000
0.00000000
501.32000000
0.00000000
Y
QRAFT AI-Enhanced U.S. Next Value ETF
S000069970
Y
25000.00000000
0.82000000
0.32000000
99.18000000
0.32000000
25.80000000
16.82000000
74.20000000
16.82000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
275.00000000
0.00000000
0.00000000
275.00000000
0.00000000
Y
Asian Growth Cubs ETF
S000071948
Y
10000.00000000
94.51000000
19.49000000
5.49000000
19.49000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
2700.00000000
0.00000000
0.00000000
2700.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
N
Cabana Target Drawdown 5 ETF
S000068386
Y
25000.00000000
0.38000000
0.16000000
99.62000000
0.16000000
2.39000000
14.57000000
97.61000000
14.57000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
504.55000000
0.00000000
0.00000000
504.55000000
0.00000000
Y
Cabana Target Leading Sector Moderate ETF
S000072148
Y
25000.00000000
0.24000000
0.18000000
99.76000000
0.18000000
0.41000000
2.88000000
99.59000000
2.88000000
0.00000000
494.44000000
0.00000000
0.00000000
494.44000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
Y
Cabana Target Drawdown 16 ETF
S000068390
Y
25000.00000000
0.40000000
0.07000000
99.60000000
0.07000000
0.72000000
1.71000000
99.28000000
1.71000000
0.00000000
502.53000000
0.00000000
0.00000000
502.53000000
0.00000000
0.00000000
504.17000000
0.00000000
0.00000000
504.17000000
0.00000000
Y
QRAFT AI-Enhanced U.S. Large Cap Momentum ETF
S000065358
Y
25000.00000000
0.24000000
0.41000000
99.76000000
0.41000000
6.84000000
5.85000000
93.16000000
5.85000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
353.33000000
0.00000000
0.00000000
353.33000000
0.00000000
Y
Cabana Target Leading Sector Conservative ETF
S000072147
Y
25000.00000000
0.33000000
0.14000000
99.67000000
0.14000000
4.86000000
8.31000000
95.14000000
8.31000000
0.00000000
485.00000000
0.00000000
0.00000000
485.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
Y
Cabana Target Drawdown 10 ETF
S000068388
Y
25000.00000000
0.48000000
0.10000000
99.52000000
0.10000000
0.39000000
1.03000000
99.61000000
1.03000000
0.00000000
501.67000000
0.00000000
0.00000000
501.67000000
0.00000000
0.00000000
501.47000000
0.00000000
0.00000000
501.47000000
0.00000000
Y
QRAFT AI-Enhanced U.S. High Dividend ETF
S000067182
Y
25000.00000000
1.06000000
0.14000000
98.94000000
0.14000000
11.73000000
11.95000000
88.27000000
11.95000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
Y
QRAFT AI-Enhanced U.S. Large Cap ETF
S000065357
Y
25000.00000000
0.19000000
0.15000000
99.81000000
0.15000000
11.96000000
14.24000000
88.04000000
14.24000000
0.00000000
1750.00000000
0.00000000
0.00000000
1750.00000000
0.00000000
0.00000000
1230.77000000
0.00000000
0.00000000
1230.77000000
0.00000000
Y
Cabana Target Leading Sector Aggressive ETF
S000072146
Y
25000.00000000
0.18000000
0.11000000
99.82000000
0.11000000
0.33000000
0.99000000
99.67000000
0.99000000
0.00000000
497.00000000
0.00000000
0.00000000
497.00000000
0.00000000
0.00000000
500.00000000
0.00000000
0.00000000
500.00000000
0.00000000
Y
false
false
true
false
false
false
INTERNAL CONTROL RPT
2
Cabana-Internal-Control-RPT.htm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders Cabana Target Drawdown 5 ETF, Cabana Target Drawdown 7 ETF, Cabana Target Drawdown 10 ETF, Cabana Target Drawdown 13 ETF, Cabana Target Drawdown 16 ETF, Cabana Target Leading Sector Aggressive ETF, Cabana Target Leading Sector Conservative ETF, and Cabana Target Leading Sector Moderate ETF and Board of Trustees of Exchange Listed Funds Trust
In planning and performing our audit of the financial statements of Cabana Target Drawdown 5 ETF, Cabana Target Drawdown 7 ETF, Cabana Target Drawdown 10 ETF, Cabana Target Drawdown 13 ETF, Cabana Target Drawdown 16 ETF, Cabana Target Leading Sector Aggressive ETF, Cabana Target Leading Sector Conservative ETF, and Cabana Target Leading Sector Moderate ETF (the “Funds”), each a series of Exchange Listed Funds Trust, as of and for the year or period ended April 30, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of April 30, 2022.
This report is intended solely for the information and use of management and the Board of Trustees of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ COHEN & COMPANY, LTD.
Cleveland, Ohio
June 29, 2022
INTERNAL CONTROL RPT
3
CUBS-Internal-Control-RPT.htm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders Asian Growth Cubs ETF and
Board of Trustees of Exchange Listed Funds Trust
In planning and performing our audit of the financial statements of Asian Growth Cubs ETF (the “Fund”), a series of Exchange Listed Funds Trust, as of and for the period ended April 30, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.
The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of April 30, 2022.
This report is intended solely for the information and use of management and the Board of Trustees of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ COHEN & COMPANY, LTD.
Cleveland, Ohio
June 29, 2022
INTERNAL CONTROL RPT
4
QRAFT-Internal-Control-RPT.htm
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders QRAFT AI-Enhanced U.S. High Dividend ETF, QRAFT AI-Enhanced U.S. Large Cap ETF, QRAFT AI-Enhanced U.S. Large Cap Momentum ETF, and QRAFT AI-Enhanced U.S. Next Value ETF and Board of Trustees of Exchange Listed Funds Trust
In planning and performing our audit of the financial statements of QRAFT AI-Enhanced U.S. High Dividend ETF, QRAFT AI-Enhanced U.S. Large Cap ETF, QRAFT AI-Enhanced U.S. Large Cap Momentum ETF, and QRAFT AI-Enhanced U.S. Next Value ETF (the “Funds”), each a series of Exchange Listed Funds Trust, as of and for the year ended April 30, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of April 30, 2022.
This report is intended solely for the information and use of management and the Board of Trustees of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ COHEN & COMPANY, LTD.
Cleveland, Ohio
June 29, 2022