NPORT-EX 2 emfq.htm NPORT-EX

Amplify International Online Retail ETF
  
Schedule of Investments
  
July 31, 2022 (Unaudited)
  
             
Description
  
Shares
    
Value
  
             
COMMON STOCKS - 99.8%
            
Banking - 7.8%
            
Bank BTPN Syariah Tbk PT
    
371,700
    
$
70,418
  
Bank Jago Tbk PT (a)
    
107,800
      
76,857
  
NU Holdings Ltd. - Class A (a) (b)
    
14,055
      
59,172
  
TCS Group Holding PLC - GDR (a) (c) (d)
    
2,536
      
–
  
             
206,447
  
Digital Assets - 5.0%
                
Danal Co. Ltd. (a)
    
11,540
      
66,179
  
Huobi Technology Holdings Ltd. (a) (d)
    
125,500
      
66,827
  
             
133,006
  
Fintech Software - 3.4%
                
Bairong, Inc. (a) (e)
    
43,500
      
49,762
  
Linklogis, Inc. - Class B (a) (e)
    
53,000
      
39,295
  
             
89,057
  
Insurance - 4.8%
                
Fanhua, Inc. - ADR
    
8,110
      
42,699
  
Ping An Insurance Group Co. of China Ltd. - Class H
    
7,500
      
44,141
  
Renaissance Insurance Group JSC (a) (c)
    
196,320
      
–
  
ZhongAn Online P&C Insurance Co. Ltd. - Class H (a) (e)
    
15,400
      
39,158
  
             
125,998
  
Investment & Trading - 9.0%
                
Futu Holdings Ltd. - ADR (a)
    
2,715
      
112,944
  
Up Fintech Holding Ltd. - ADR (a) (b)
    
13,120
      
49,594
  
XP, Inc. - Class A (a)
    
3,470
      
73,217
  
             
235,755
  
Lending & Credit - 10.8%
                
360 DigiTech, Inc. - ADR
    
3,510
      
50,965
  
Cango, Inc. - ADR
    
22,385
      
60,439
  
CNFinance Holdings Ltd. - ADR (a)
    
1,906
      
4,441
  
FinVolution Group - ADR
    
13,685
      
57,340
  
Kaspi.KZ JSC - GDR (d)
    
1,315
      
69,038
  
Lufax Holding Ltd. - ADR
    
9,455
      
43,304
  
             
285,527
  
Marketplace - 2.4%
                
Yixin Group Ltd. (a) (e)
    
518,000
      
64,008
  
Payment - 54.6%
                
Alibaba Group Holding Ltd. (a)
    
4,500
      
53,370
  
Dlocal Ltd. (a)
    
3,645
      
101,258
  
EVERTEC, Inc.
    
2,205
      
85,973
  
Fawry for Banking & Payment Technology Services SAE (a)
    
346,624
      
57,343
  
Forth Smart Service PCL - NVDR
    
133,980
      
71,340
  
Grab Holdings Ltd. (a)
    
30,310
      
89,414
  
Green World FinTech Service Co. Ltd.
    
5,040
      
68,174
  
Jumia Technologies AG - ADR (a) (b)
    
11,245
      
61,960
  
Kakaopay Corp. (a)
    
985
      
47,692
  
Kginicis Co. Ltd.
    
6,400
      
67,986
  
Lesaka Technologies, Inc. (a)
    
17,155
      
94,867
  
MercadoLibre, Inc. (a)
    
85
      
69,165
  
Network International Holdings PLC (a) (e)
    
26,120
      
63,825
  
Pagseguro Digital Ltd. - Class A (a)
    
5,695
      
61,791
  
PAX Global Technology Ltd.
    
103,000
      
96,441
  
QIWI PLC - ADR (c)
    
22,528
      
–
  
Sea Ltd. - ADR (a)
    
1,025
      
78,228
  
StoneCo Ltd. - Class A (a)
    
8,940
      
85,645
  
Tencent Holdings Ltd.
    
1,200
      
46,900
  
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA
    
47,000
      
96,115
  
Yeahka Ltd. (a)
    
19,600
      
43,146
  
             
1,440,633
  
Real Estate Services - 2.0%
                
KE Holdings, Inc. - ADR (a)
    
3,765
      
53,124
  
Total Common Stocks (Cost $4,525,532)
            
2,633,555
  
                 
MONEY MARKET FUNDS - 0.2%
                
Invesco Government & Agency Portfolio - Institutional Class - 1.64% (f)
    
5,434
      
5,434
  
Total Money Market Funds (Cost $5,434)
            
5,434
  
                 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 6.7%
                
First American Government Obligations Fund - Class X - 1.94% (f)
    
178,018
      
178,018
  
Total Investments Purchased with Proceeds from Securities Lending (Cost $178,018)
            
178,018
  
Total Investments - 106.7%
                
(Cost $4,708,984)
          
$
2,817,007
  

Percentages are based on Net Assets of $2,639,298.
ADR -
American Depositary Receipt
GDR -
Global Depositary Receipt
NVDR -
Non-Voting Depositary Receipt
(a)
Non-income producing security.
(b)
All or a portion of this security is out on loan as of July 31, 2022. Total value of securities out on loan is $165,480 or 6.3% of net assets.
(c)
Illiquid security. At July 31, 2022, the value of this security amounted to $0 or 0.0% of net assets.
(d)
Security exempt from registration under Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities, according to the Fund’s liquidity guidelines. At July 31, 2022 the value of these securities amounted to $135,865 or 5.1% of net assets.
(e)
Security exempt from registration under Rule 144(a) and Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities, according to the Fund’s liquidity guidelines. At July 31, 2022 the value of these securities amounted to $256,048 or 9.7% of net assets.
(f)
Seven-day yield as of July 31, 2022.

 
Security Valuation
                                
                                     
In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The following describes the levels of the fair value hierarchy:
 
Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;
Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and
Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).
 
The valuation techniques used by the Funds to measure fair value for the period ended July 31, 2022 maximized the use of observable inputs and minimized the use of unobservable inputs.
 
For the period ended July 31, 2022, there have been no significant changes to the Fund's fair valuation methodologies.
 
Common stocks, preferred stock, and other equity securities listed on any national or foreign exchange (excluding Nasdaq) and the London Stock Exchange Alternative Investment Market (“AIM”) will be valued at the last price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the exchange representing the principal market for such securities. Foreign securities and other assets denominated in foreign currencies are translated into U.S. dollars at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies shall be valued at the investment company’s applicable NAV, with the exception of exchange-traded open-end and closed-end investment companies which are priced as equity securities. Exchange-traded options will be valued at the current mean price where such contracts are principally traded. Securities traded in the over-the-counter market are valued at the mean of the bid and the asked price, if available, and otherwise at their closing bid price. Fixed income securities will be valued using the mean price. Fixed income securities having a remaining maturity of 60 days or less when purchased will be valued at the current market price. If there is no current market price available then the securities will be valued at cost and adjusted for amortization of premiums and accretions of discounts. Swaps will be valued by using the market close price of the underlying holdings. If there is no market price available, then the securities will be valued at the last price.
 
If no quotation is available from either a pricing service, or one or more brokers or if the pricing committee has reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith by the pricing committee, pursuant to procedures established under the general supervision and responsibility of the Fund’s Board of Trustees (the “Board”).
               
The following is a summary of the fair valuations according to the inputs used to value the Fund's investments as of July 31, 2022:
              

   
Category
                                  
   
Investments in Securities
                                  
   
Assets
                                  
   
Level 1
                                  
   
   Common Stocks
                                  
   
Argentina
   $
          69,165
                            
   
Brazil
    
           375,940
                            
   
China
    
           741,686
                            
   
Egypt
    
             57,343
                            
   
Germany
    
             61,960
                            
   
Hong Kong
    
           276,212
                            
   
Indonesia
    
           147,275
                            
   
Kazakhstan
    
             69,038
                            
   
Puerto Rico
    
             85,973
                            
   
Singapore
    
           167,643
                            
   
South Africa
    
             94,867
                            
   
South Korea
    
           181,856
                            
   
Taiwan
    
             68,174
                            
   
Thailand
    
             71,340
                            
   
United Arab Emirates
    
             63,825
                            
   
Urugay
    
           101,258
                            
   
   Money Market Funds
                                  
   
United States
    
              5,434
                            
   
   Investments Purchased with
   Proceeds from Securities Lending
                                  
   
United States
    
          178,018
                            
   
Total Level 1
    
        2,817,007
                            
   
Level 2
    
                    -
                            
   
Total Level 2
    
                    -
                            
   
Level 3
    
                    -
                            
   
   Common Stocks
                                  
   
Cyprus
    
0
                            
   
Russia
    
0
                            
   
Total Level 3
    
0
                            
   
Total
   $
      2,817,007
                            

See the Schedule of Investments for further disaggregation of investment categories.
                          
                                                       
For the period ended July 31, 2022, there were no transfers into or out of Level 3 for the Fund. Below is a reconciliation of securities in Level 3 for the Fund.
        
                                                       
EMFQ
  
Balance as of 10/31/2021
    
Net Realized
Gain (Loss)
    
Change in Net Unrealized Appreciation (Depreciation)
    
Purchases/
Acquisition
    
Sales
    
Corporate
Action
    
Transfers
In/Out of
Level 3
    
Balance as of 07/31/2022
    
Net Change in Unrealized Appreciation (Depreciation) on Securities held at 07/31/2022
  
Common Stocks
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
0
    
$
-
  
                                                                         
The following is a summary of quantitative information about Level 3 Fair Value Measurements:
                                  
                                                                         
EMFQ
                  
Fair Value as of 07/31/22
    
Valuation Techniques
    
Unobservable
Input
    
Range/Weighted Average Unobservable
Input
                          
Common Stocks
                  
$
-
    
Last Avalible Price
    
No Market Activity
      
-
                          
                                                                         
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 July 31, 2022, 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.