Simplify

Hedged

Equity

ETF

Schedule

of

Investments

March

31,

2024

(Unaudited)

1

Shares

Value

Exchange-Traded

Funds

–

102.0%

Equity

Funds

–

102.0%

iShares

Core

S&P

500

ETF(a)(b)

(Cost

$302,502,442)

.....................................................

640,989

$

336,987,147‌

Number

of

Contracts

Notional

Amount

Purchased

Options

–

0.3%

Puts

–

Exchange-Traded

–

0.3%

S&P

500

Index,

April

Strike

Price

$4,540,

Expires

4/19/24

...............

213

$

96,702,000‌

38,340‌

S&P

500

Index,

May

Strike

Price

$4,775,

Expires

5/17/24

...............

213

101,707,500‌

199,155‌

S&P

500

Index,

June

Strike

Price

$4,875,

Expires

6/21/24

...............

214

104,325,000‌

595,990‌

833,485‌

Total

Purchased

Options

(Cost

$2,415,749)

...........................................

833,485‌

Shares

Money

Market

Funds

–

0.3%

Fidelity

Investments

Money

Market

Treasury

Only

Portfolio

-

Class

I,

5.20%(c)

(Cost

$918,535)

.........................................................

918,535

918,535‌

Total

Investments

–

102.6%

(Cost

$305,836,726)

...........................................................

$

338,739,167‌

Liabilities

in

Excess

of

Other

Assets

–

(2.6)%

.........................................

(8,467,799‌)

Net

Assets

–

100.0%

............................................................

$

330,271,368‌

Number

of

Contracts

Notional

Amount

Written

Options

–

(2.6)%

Calls

–

Exchange-Traded

–

(2.5)%

S&P

500

Index,

April

Strike

Price

$5,020,

Expires

4/19/24

...............

(213)

$

(106,926,000‌)

$

(5,394,225‌)

S&P

500

Index,

May

Strike

Price

$5,310,

Expires

5/17/24

...............

(213)

(113,103,000‌)

(1,574,070‌)

S&P

500

Index,

June

Strike

Price

$5,425,

Expires

6/21/24

...............

(214)

(116,095,000‌)

(1,392,070‌)

(8,360,365‌)

Puts

–

Exchange-Traded

–

(0.1)%

S&P

500

Index,

April

Strike

Price

$3,820,

Expires

4/19/24

...............

(213)

$

(81,366,000‌)

$

(12,780‌)

S&P

500

Index,

May

Strike

Price

$4,020,

Expires

5/17/24

...............

(213)

(85,626,000‌)

(47,393‌)

S&P

500

Index,

June

Strike

Price

$4,110,

Expires

6/21/24

...............

(214)

(87,954,000‌)

(126,260‌)

(186,433‌)

Total

Written

Options

(Premiums

Received

$4,204,759)

.................................

$

(8,546,798‌)

(a)

A

copy

of

the

security's

annual

report

to

shareholders

may

be

obtained

without

charge

at

www.ishares.com.

(b)

Securities

with

an

aggregate

market

value

of

$228,177,335

have

been

pledged

as

collateral

for

options

as

of

March

31,

2024.

(c)

Rate

shown

reflects

the

7-day

yield

as

of

March

31,

2024.

Simplify

Hedged

Equity

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

2

††

The

percentage

shown

for

each

investment

category

is

the

total

value

of

investments

in

that

category

as

a

percentage

of

the

net

assets

of

the

Fund.

The

table

depicts

the

Fund's

investments

but

may

not

represent

the

Fund's

market

exposure

to

certain

derivatives,

if

any,

which

are

included

in

Liabilities

in

Excess

of

Other

Assets.

Summary

of

Investment

Type††

Industry

%

of

Net

Assets

Exchange-Traded

Funds

...........................................................................

102.0‌%

Purchased

Options

...............................................................................

0.3‌%

Money

Market

Funds

.............................................................................

0.3‌%

Total

Investments

................................................................................

102.6‌%

Liabilities

in

Excess

of

Other

Assets

..................................................................

(2.6‌)%

Net

Assets

.....................................................................................

100.0‌%