Schedule of Investments

ARK Fintech Innovation ETF

October 31, 2020 (Unaudited)

Investments	Shares		Value
COMMON STOCKS–99.9%
Banks - 2.7%
HDFC Bank Ltd. (India)*(a)		178,353	$	10,244,596
Silvergate Capital Corp., Class A*		274,943		6,147,726
TCS Group Holding PLC, Class Reg S (Russia)(b)		311,797		7,451,948
Total Banks				23,844,270
Capital Markets - 8.1%
Charles Schwab Corp. (The)		264,196		10,861,098
Interactive Brokers Group, Inc., Class A		204,519		9,728,969
Intercontinental Exchange, Inc.		386,958		36,528,835
MarketAxess Holdings, Inc.		9,138		4,924,011
SBI Holdings, Inc. (Japan)		464,074		10,607,279
Total Capital Markets				72,650,192
Consumer Finance - 5.0%
LendingClub Corp.*		1,879,598		8,777,723
LendingTree, Inc.*		109,632		35,475,819
Total Consumer Finance				44,253,542
Entertainment - 3.5%
Sea Ltd. (Taiwan)*(a)		198,137		31,246,205
Insurance - 3.4%
Discovery Ltd. (South Africa)		1,259,773		8,283,015
ZhongAn Online P&C Insurance Co. Ltd., Class H (China)*(c)		4,278,045		22,238,660
Total Insurance				30,521,675
Interactive Media & Services - 21.6%
Facebook, Inc., Class A*		80,546		21,192,458
Pinterest, Inc., Class A*		886,114		52,236,420
Snap, Inc., Class A*		643,988		25,366,688
Tencent Holdings Ltd. (China)(a)		495,653		37,838,150
Z Holdings Corp. (Japan)		3,906,812		27,057,924
Zillow Group, Inc., Class C*		330,442		29,283,770
Total Interactive Media & Services				192,975,410
Internet & Direct Marketing Retail - 16.8%
Alibaba Group Holding Ltd. (China)*(a)		107,340		32,705,425
Amazon.com, Inc.*		7,913		24,025,055
JD.com, Inc. (China)*(a)		107,648		8,775,465
Meituan, Class B (China)*		791,215		29,413,500
MercadoLibre, Inc. (Argentina)*		36,339		44,117,363
Pinduoduo, Inc. (China)*(a)		128,221		11,537,326
Total Internet & Direct Marketing Retail				150,574,134
IT Services - 20.4%
Adyen NV (Netherlands)*(c)		17,554		29,592,974
PayPal Holdings, Inc.*		149,500		27,826,435
Shopify, Inc., Class A (Canada)*		4,295		3,974,722
Square, Inc., Class A*		572,766		88,709,998
Twilio, Inc., Class A*		81,559		22,752,514
Yeahka Ltd. (China)*		1,770,800		9,410,765
Total IT Services				182,267,408
Professional Services - 1.8%
TransUnion		103,979		8,282,967
Verisk Analytics, Inc.		42,066		7,486,486
Total Professional Services				15,769,453
Real Estate - 0.4%
Social Capital Hedosophia Holdings Corp. II, Class A*		216,144		3,553,407
Semiconductors & Semiconductor Equipment - 2.3%
NVIDIA Corp.		18,824		9,437,601
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)(a)		137,466		11,529,273
Total Semiconductors & Semiconductor Equipment				20,966,874
Software - 11.3%
DocuSign, Inc.*		74,003		14,967,107
Guidewire Software, Inc.*		118,385		11,377,982
Intuit, Inc.		48,561		15,281,175
Lightspeed POS, Inc. (Canada)*		366,596		11,727,330
salesforce.com, Inc.*		14		3,252
Slack Technologies, Inc., Class A*		451,662		11,553,514
Splunk, Inc.*		93,235		18,464,259
Workday, Inc., Class A*		61,339		12,888,551
Zscaler, Inc.*		32,574		4,421,921
Total Software				100,685,091
Technology Hardware, Storage & Peripherals - 2.6%
Apple, Inc.		211,037		22,973,488
Total Common Stocks
(Cost $766,992,321)				892,281,149
MONEY MARKET FUND–0.2%
Morgan Stanley Institutional Liquidity Fund - Government Portfolio, 0.02% (d)
(Cost $1,933,399)		1,933,399		1,933,399
Total Investments–100.1%
(Cost $768,925,720)				894,214,548
Liabilities in Excess of Other Assets–(0.1)%				(​588,244)
Net Assets–100.0%			$	893,626,304

*	Non-income producing security
(a)	American Depositary Receipt
(b)	Global Depositary Receipt
(c)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d)	Rate shown represents annualized 7-day yield as of October 31, 2020.

Schedule of Investments (continued)

ARK Fintech Innovation ETF

October 31, 2020 (Unaudited)

Fair Value Measurement

The Fund discloses the fair value of its investments in a hierarchy that distinguishes between: (i) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (ii) the Fund’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

• Level 1 — Quoted prices in active markets for identical assets.

• Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 — Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of October 31, 2020, based upon the three levels defined above:

ARK Fintech Innovation ETF	Level 1		Level 2		Level 3		Total
Assets
Common Stocks‡	$	892,281,149	$	–	$	–	$	892,281,149
Money Market Fund		1,933,399		–		–		1,933,399
Total	$	894,214,548	$	–	$	–	$	894,214,548

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.