Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

March

31,

2024

(Unaudited)

1

††

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.

Principal

Value

U.S.

Treasury

Bills

–

100.5%

U.S.

Treasury

Bill,

5.40%,

4/2/2024(a)

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

$

35,300,000‌

$

35,294,886‌

U.S.

Treasury

Bill,

5.39%,

4/16/2024(a)

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

94,400,000‌

94,192,930‌

U.S.

Treasury

Bill,

5.39%,

4/30/2024(a)

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

200,000‌

199,153‌

U.S.

Treasury

Bill,

5.39%,

6/20/2024(a)

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

30,000,000‌

29,652,567‌

U.S.

Treasury

Bill,

5.40%,

6/25/2024(a)

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

1,200,000‌

1,185,361‌

Total

U.S.

Treasury

Bills

(Cost

$160,523,260)

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

160,524,897‌

Total

Investments

–

100.5%

(Cost

$160,523,260)

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

$

160,524,897‌

Liabilities

in

Excess

of

Other

Assets

–

(0.5)%

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

(824,071‌)

Net

Assets

–

100.0%

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

$

159,700,826‌

(a)

Represents

a

zero

coupon

bond.

Rate

shown

reflects

the

effective

yield.

Summary

of

Investment

Type††

Industry

%

of

Net

Assets

U.S.

Treasury

Bills

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

100.5‌%

Total

Investments

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

100.5‌%

Liabilities

in

Excess

of

Other

Assets

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

(0.5‌)%

Net

Assets

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

100.0‌%

At

March

31,

2024,

over

the

counter

total

return

swap

contracts

outstanding

were

as

follows:

Reference

Obligation/Index

Termination

Date(a)

Financing

Rate

Paid

(Received)

by

the

Fund

Counterparty

Notional

Amount

Unrealized

Appreciation/

(Depreciation)(b)

BNP

Custom

Global

Long

Equity

Index*

8/5/2024

2.51%(c)

BNP

Paribas

(161,328,195)

$

1,117,906‌

BNP

Custom

Global

Short

Equity

Index*

8/5/2024

(3.13)%(c)

BNP

Paribas

161,534,637

(1,511,494‌)

Goldman

Sachs

Custom

Global

Long

Equity

Index*

3/28/2025

0.30%(c)

Goldman

Sachs

(161,550,936)

637,532‌

Goldman

Sachs

Custom

Global

Short

Equity

Index*

3/28/2025

–%(c)

Goldman

Sachs

161,413,205

(1,028,544‌)

$

(784,600‌)

*

The

components

of

the

basket

shown

below.

(a)

The

Fund

pays/receives

annual

coupon

payments

in

accordance

with

the

swap

contract.

On

the

termination

date

of

the

swap

contract(s),

the

Fund

will

either

receive

from

or

pay

to

the

counterparty

an

amount

equal

to

the

net

of

the

accrued

financing

fees

and

the

value

of

the

reference

security

subtracted

from

the

original

notional

cost

(notional

multiplied

by

the

price

change

of

the

reference

security).

(b)

There

are

no

upfront

payments

on

the

swap

contracts,

therefore

the

unrealized

gain

(loss)

on

the

swap

contracts

is

equal

to

their

market

value.

(c)

Payments

made

quarterly.

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

2

*

The

following

table

shows

the

individual

positions

and

related

values

of

the

securities

within

the

BNP

Custom

Global

Long

Equity

Index

basket.

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

Basic

Materials

Air

Liquide

SA

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

2,011

$

2,882‌

0.26%

Albemarle

Corp.

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

1,407

1,275‌

0.11%

BHP

Group

Ltd

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

4,158

826‌

0.07%

BlueScope

Steel

Ltd

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

42,430

4,543‌

0.41%

Boliden

AB

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

19,613

3,752‌

0.34%

Brenntag

SE

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

5,120

2,972‌

0.27%

Cleveland-Cliffs

Inc

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

35,216

5,510‌

0.49%

Covestro

AG,

144A

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

1,702

641‌

0.06%

Eastman

Chemical

Co

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

2,087

1,439‌

0.13%

Glencore

PLC

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

47,678

1,804‌

0.16%

Holmen

AB,

Class

B

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

4,209

1,179‌

0.10%

International

Paper

Co

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

2,100

564‌

0.05%

Mosaic

Co/The

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

6,606

1,476‌

0.13%

Nissan

Chemical

Corp

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

2,928

761‌

0.07%

Norsk

Hydro

ASA

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

87,273

3,289‌

0.29%

Novozymes

A/S,

Class

B

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

14,400

5,815‌

0.52%

Rio

Tinto

Ltd

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

16,076

8,787‌

0.79%

Rio

Tinto

PLC

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

25,884

11,288‌

1.01%

Sumitomo

Metal

Mining

Co

Ltd

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

47,478

9,679‌

0.87%

voestalpine

AG

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

3,249

628‌

0.06%

Yara

International

ASA

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

17,735

3,858‌

0.34%

72,968‌

Communications

Elisa

Oyj

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

2,530

778‌

0.07%

Expedia

Group

Inc

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

1,864

1,767‌

0.16%

FactSet

Research

Systems,

Inc.

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

188

589‌

0.05%

Juniper

Networks

Inc

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

14,846

3,786‌

0.34%

KDDI

Corp

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

19,449

3,952‌

0.35%

Koninklijke

KPN

NV

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

202,538

5,218‌

0.47%

Meta

Platforms

Inc,

Class

A

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

2,223

7,428‌

0.66%

News

Corp,

Class

A

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

45,111

8,126‌

0.73%

Nippon

Telegraph

&

Telephone

Corp

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

182,723

1,496‌

0.13%

Pinterest

Inc,

Class

A

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

2,293

547‌

0.05%

Rogers

Communications

Inc,

Class

B

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

2,807

792‌

0.07%

Spark

New

Zealand

Ltd.

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

28,479

558‌

0.05%

Tele2

AB,

Class

B

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

56,386

3,190‌

0.29%

Telefonaktiebolaget

LM

Ericsson,

Class

B

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

17,775

659‌

0.06%

Telenor

ASA

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

29,876

2,289‌

0.20%

Trend

Micro

Inc/Japan

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

20,540

7,160‌

0.64%

VeriSign

Inc

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

8,457

11,028‌

0.99%

Vodafone

Group

PLC

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

96,782

593‌

0.05%

Wolters

Kluwer

NV

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

10,312

11,129‌

1.00%

WPP

PLC

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

27,852

1,824‌

0.16%

72,909‌

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

3

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Cyclical

adidas

AG

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

5,682

$

8,743‌

0.78%

Aristocrat

Leisure

Ltd.

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

21,771

4,202‌

0.38%

Bandai

Namco

Holdings

Inc

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

10,585

1,347‌

0.12%

BorgWarner

Inc

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

2,579

616‌

0.06%

Burlington

Stores

Inc

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

372

594‌

0.05%

Canadian

Tire

Corp

Ltd,

Class

A

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

844

579‌

0.05%

Chipotle

Mexican

Grill

Inc,

Class

A

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

136

2,714‌

0.24%

Darden

Restaurants

Inc

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

4,015

4,618‌

0.41%

Deckers

Outdoor

Corp

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

274

1,772‌

0.16%

Dick's

Sporting

Goods,

Inc.

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

665

1,028‌

0.09%

Evolution

AB,

144A

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

6,339

5,428‌

0.49%

Ferrari

NV

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

1,092

3,279‌

0.29%

Genuine

Parts

Co

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

1,534

1,635‌

0.15%

Gildan

Activewear,

Inc.,

Class

A

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

2,219

567‌

0.05%

H

&

M

Hennes

&

Mauritz

AB,

Class

B

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

33,482

3,762‌

0.34%

Hasbro,

Inc.

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

3,294

1,281‌

0.11%

Hilton

Worldwide

Holdings

Inc

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

2,557

3,753‌

0.34%

Iida

Group

Holdings

Co

Ltd

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

12,368

1,098‌

0.10%

InterContinental

Hotels

Group

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

820

588‌

0.05%

Isuzu

Motors

Ltd.

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

93,154

8,638‌

0.77%

Jardine

Cycle

&

Carriage

Ltd

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

11,407

1,406‌

0.13%

Koito

Manufacturing

Co.

Ltd.

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

62,807

5,812‌

0.52%

La

Francaise

des

Jeux

SAEM,

144A

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

3,966

1,114‌

0.10%

Lear

Corp.

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

11,346

11,311‌

1.01%

Lennar

Corp,

Class

A

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

7,438

8,801‌

0.79%

Lululemon

Athletica

Inc

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

2,250

6,048‌

0.54%

Mazda

Motor

Corp

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

14,837

1,189‌

0.11%

McDonald's

Corp

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

922

1,789‌

0.16%

McDonald's

Holdings

Co

Japan

Ltd

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

1,820

563‌

0.05%

NIKE

Inc,

Class

B

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

1,095

708‌

0.06%

Nintendo

Co

Ltd

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

9,118

3,424‌

0.31%

Panasonic

Holdings

Corp

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

169,783

11,106‌

0.99%

Pandora

A/S

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

3,488

3,874‌

0.35%

Persimmon

PLC

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

36,936

4,225‌

0.38%

Rational

AG

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

196

1,161‌

0.10%

Ross

Stores,

Inc.

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

10,937

11,045‌

0.99%

Sands

China

Ltd.

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

267,581

5,188‌

0.46%

Sekisui

House

Ltd.

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

61,401

9,588‌

0.86%

Sumitomo

Corp

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

19,772

3,264‌

0.29%

Taylor

Wimpey

PLC

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

46,544

554‌

0.05%

TJX

Cos

Inc/The

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

15,939

11,123‌

0.99%

USS

Co

Ltd

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

30,689

1,744‌

0.16%

Volvo

AB,

Class

B

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

4,533

846‌

0.08%

Whitbread

PLC

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

1,955

563‌

0.05%

Wynn

Resorts

Ltd

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

1,337

941‌

0.08%

Yamaha

Motor

Co

Ltd

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

9,357

591‌

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

4

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Cyclical

(continued)

Zensho

Holdings

Co

Ltd

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

12,164

$

3,482‌

0.31%

167,702‌

Consumer,

Non-cyclical

Adyen

NV,

144A

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

331

3,862‌

0.35%

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

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

2,405

2,456‌

0.22%

Cardinal

Health

Inc

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

10,670

8,215‌

0.74%

Carlsberg

AS,

Class

B

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

5,022

4,723‌

0.42%

Ck

Hutchison

Holdings

Ltd.

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

113,662

3,778‌

0.34%

Clorox

Co/The

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

8,813

9,284‌

0.83%

Coca-Cola

Co.

(The)

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

1,363

574‌

0.05%

Cochlear

Ltd

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

3,645

5,522‌

0.49%

Coloplast

A/S,

Class

B

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

603

561‌

0.05%

Corteva

Inc

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

7,490

2,972‌

0.27%

Darling

Ingredients

Inc

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

7,389

2,365‌

0.21%

Demant

A/S

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

3,455

1,181‌

0.11%

Dexcom,

Inc.

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

10,807

10,314‌

0.92%

Diageo

PLC

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

2,212

563‌

0.05%

Edenred

SE

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

15,021

5,522‌

0.49%

Elevance

Health

Inc

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

979

3,495‌

0.31%

Essity

AB,

Class

B

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

31,104

5,088‌

0.46%

Experian

PLC

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

2,000

600‌

0.05%

Gartner

Inc

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

285

936‌

0.08%

General

Mills,

Inc.

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

1,285

619‌

0.06%

Genmab

A/S

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

3,229

6,706‌

0.60%

Getinge

AB,

Class

B

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

19,025

2,637‌

0.24%

Henkel

AG

&

Co

KGaA

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

1,563

865‌

0.08%

Hershey

Co.

(The)

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

427

571‌

0.05%

Hologic

Inc

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

11,606

6,226‌

0.56%

Humana,

Inc.

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

683

1,629‌

0.15%

IDP

Education

Ltd

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

47,677

3,835‌

0.34%

Imperial

Brands

PLC

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

3,933

605‌

0.05%

Lamb

Weston

Holdings,

Inc.

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

5,869

4,302‌

0.38%

Lifco

AB,

Class

B

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

5,936

1,068‌

0.10%

MEIJI

Holdings

Co

Ltd

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

3,581

538‌

0.05%

Molina

Healthcare,

Inc.

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

675

1,908‌

0.17%

Mowi

ASA

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

16,997

2,145‌

0.19%

Nissin

Foods

Holdings

Co

Ltd

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

31,059

5,890‌

0.53%

Novo

Nordisk

A/S,

Class

B

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

3,321

2,917‌

0.26%

Ono

Pharmaceutical

Co

Ltd

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

54,624

6,153‌

0.55%

Orion

Oyj,

Class

B

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

5,858

1,505‌

0.13%

Orkla

ASA

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

24,132

1,172‌

0.10%

RELX

PLC

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

3,381

1,006‌

0.09%

ResMed

Inc

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

1,309

1,783‌

0.16%

Robert

Half

Inc

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

11,590

6,322‌

0.57%

S&P

Global

Inc

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

208

608‌

0.05%

Sonic

Healthcare

Ltd

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

7,490

989‌

0.09%

Sysco

Corp

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

1,006

562‌

0.05%

Sysmex

Corp

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

4,686

573‌

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

5

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Non-cyclical

(continued)

Tesco

PLC

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

22,064

$

569‌

0.05%

Unicharm

Corp.

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

32,303

7,079‌

0.63%

Verisk

Analytics

Inc,

Class

A

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

6,967

11,300‌

1.01%

Vertex

Pharmaceuticals

Inc

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

1,589

4,570‌

0.41%

158,663‌

Energy

Aker

BP

ASA

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

15,580

2,667‌

0.24%

ARC

Resources

Ltd

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

5,168

635‌

0.06%

Devon

Energy

Corp

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

14,378

4,964‌

0.44%

Enphase

Energy

Inc

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

734

611‌

0.06%

Equinor

ASA

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

41,217

7,489‌

0.67%

Hess

Corp

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

9,149

9,609‌

0.86%

Inpex

Corp

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

19,474

2,036‌

0.18%

Texas

Pacific

Land

Corp

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

1,192

4,746‌

0.42%

Vestas

Wind

Systems

A/S

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

43,485

8,364‌

0.75%

41,121‌

Financial

abrdn

plc

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

53,763

659‌

0.06%

Aegon

Ltd

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

165,643

6,956‌

0.62%

Allianz

SE

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

5,381

11,111‌

0.99%

Allstate

Corp.

(The)

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

5,388

6,415‌

0.57%

American

Financial

Group,

Inc.

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

7,302

6,857‌

0.61%

American

International

Group

I

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

2,474

1,331‌

0.12%

Ameriprise

Financial

Inc

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

3,733

11,263‌

1.01%

Aon

PLC,

Class

A

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

1,814

4,166‌

0.37%

Arch

Capital

Group

Ltd

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

2,204

1,402‌

0.13%

Arthur

J

Gallagher

&

Co.

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

1,536

2,643‌

0.24%

Assurant,

Inc.

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

1,712

2,218‌

0.20%

Bank

of

New

York

Mellon

Corp.

(The)

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

9,215

3,653‌

0.33%

Boston

Properties

Inc

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

13,840

6,219‌

0.56%

Brookfield

Corp,

Class

A

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

22,793

6,568‌

0.59%

Canadian

Apartment

Properties,

Class

REIT

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

2,518

595‌

0.05%

CapitaLand

Ascendas

REIT

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

103,990

1,469‌

0.13%

Cboe

Global

Markets,

Inc.

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

1,815

2,295‌

0.21%

Cincinnati

Financial

Corp.

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

707

604‌

0.05%

Citizens

Financial

Group,

Inc.

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

18,744

4,680‌

0.42%

CK

Asset

Holdings

Ltd

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

87,339

2,473‌

0.22%

Danske

Bank

A/S

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

2,692

554‌

0.05%

Dexus

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

16,540

587‌

0.05%

Discover

Financial

Services

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

4,362

3,935‌

0.35%

DNB

Bank

ASA

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

33,182

4,528‌

0.41%

Equitable

Holdings

Inc

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

43,136

11,282‌

1.01%

Equity

LifeStyle

Properties,

Inc.

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

1,569

695‌

0.06%

Everest

Group

Ltd

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

1,074

2,937‌

0.26%

Fairfax

Financial

Holdings

Ltd.

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

75

560‌

0.05%

Gjensidige

Forsikring

ASA

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

5,931

592‌

0.05%

Globe

Life

Inc

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

13,824

11,069‌

0.99%

GLP

J-Reit,

Class

REIT

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

677

3,903‌

0.35%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

6

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Financial

(continued)

Great-West

Lifeco

Inc

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

5,126

$

1,129‌

0.10%

Hargreaves

Lansdown

PLC

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

8,946

572‌

0.05%

Hartford

Financial

Services

Group

Inc/The

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

15,993

11,340‌

1.01%

iA

Financial

Corp

Inc

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

5,086

2,176‌

0.20%

Industrivarden

AB,

Class

A

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

2,775

657‌

0.06%

Industrivarden

AB,

Class

C

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

3,753

889‌

0.08%

Intact

Financial

Corp

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

3,805

4,256‌

0.38%

Investor

AB,

Class

B

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

3,453

597‌

0.05%

Japan

Exchange

Group

Inc

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

12,180

2,263‌

0.20%

Japan

Metropolitan

Fund

Invest,

Class

REIT

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

716

3,069‌

0.27%

KDX

Realty

Investment

Corp,

Class

REIT

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

78

570‌

0.05%

KeyCorp

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

77,413

8,421‌

0.75%

L

E

Lundbergforetagen

AB,

Class

B

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

1,922

717‌

0.06%

Land

Securities

Group

PLC

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

10,839

620‌

0.06%

Legal

&

General

Group

PLC

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

210,212

4,649‌

0.42%

LPL

Financial

Holdings

Inc

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

541

984‌

0.09%

Manulife

Financial

Corp,

Class

Common

Subs.

Receipt

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

66,640

11,462‌

1.03%

Marsh

&

McLennan

Cos

Inc

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

405

573‌

0.05%

Mastercard

Inc,

Class

A

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

3,381

11,203‌

1.00%

MetLife

Inc

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

17,389

8,867‌

0.79%

Northern

Trust

Corp.

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

1,441

882‌

0.08%

Phoenix

Group

Holdings

PLC

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

24,693

1,186‌

0.11%

Power

Corp

of

Canada

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

3,035

586‌

0.05%

Principal

Financial

Group

Inc

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

19,067

11,323‌

1.01%

Progressive

Corp/The

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

3,702

5,268‌

0.47%

Raymond

James

Financial,

Inc.

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

5,214

4,607‌

0.41%

RioCan

Real

Estate

Investment,

Class

Trust

Unit

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

18,555

1,742‌

0.16%

Singapore

Exchange

Ltd

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

17,865

839‌

0.08%

Skandinaviska

Enskilda

Banken

AB,

Class

A

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

65,065

6,069‌

0.54%

St

James's

Place

PLC

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

38,137

1,540‌

0.14%

State

Street

Corp

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

7,695

4,094‌

0.37%

Sumitomo

Mitsui

Financial

Group,

Inc.

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

8,240

3,310‌

0.30%

Sun

Life

Financial,

Inc.

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

29,754

11,181‌

1.00%

Svenska

Handelsbanken

AB,

Class

A

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

147,563

10,279‌

0.92%

Swire

Pacific

Ltd,

Class

A

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

35,114

1,988‌

0.18%

Synchrony

Financial

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

1,968

584‌

0.05%

Tradeweb

Markets

Inc,

Class

A

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

2,636

1,889‌

0.17%

Travelers

Cos

Inc/The

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

1,389

2,199‌

0.20%

Tryg

A/S

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

12,176

1,726‌

0.15%

UniCredit

SpA

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

28,862

7,546‌

0.68%

W

R

Berkley

Corp

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

1,336

813‌

0.07%

278,884‌

Industrial

AECOM

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

14,897

10,054‌

0.90%

AGC

Inc

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

24,162

6,023‌

0.54%

Alfa

Laval

AB

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

12,773

3,459‌

0.31%

AP

Moller

-

Maersk

A/S,

Class

A

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

177

1,554‌

0.14%

AP

Moller

-

Maersk

A/S,

Class

B

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

587

5,258‌

0.47%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

7

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Industrial

(continued)

Assa

Abloy

AB,

Class

B

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

16,916

$

3,343‌

0.30%

Atlas

Copco

AB

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

68,827

8,008‌

0.72%

Atlas

Copco

AB,

Class

B

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

20,799

2,117‌

0.19%

Azbil

Corp

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

7,203

1,366‌

0.12%

Beijer

Ref

AB,

Class

B

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

13,992

1,432‌

0.13%

Canadian

National

Railway

Co

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

9,849

8,932‌

0.80%

Carlisle

Cos.,

Inc.

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

764

2,059‌

0.18%

CH

Robinson

Worldwide,

Inc.

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

1,133

594‌

0.05%

CNH

Industrial

NV

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

65,671

5,856‌

0.52%

DSV

A/S

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

2,793

3,123‌

0.28%

Epiroc

AB,

Class

A

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

28,038

3,628‌

0.32%

Epiroc

AB,

Class

B

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

7,780

908‌

0.08%

Expeditors

International

of

Washington

Inc

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

683

571‌

0.05%

Fanuc

Corp.

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

26,362

5,059‌

0.45%

Fortune

Brands

Innovations

Inc

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

19,669

11,459‌

1.02%

Halma

PLC

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

4,494

925‌

0.08%

Hirose

Electric

Co

Ltd

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

1,843

1,299‌

0.12%

Hitachi

Construction

Machinery

Co

Ltd

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

4,949

1,024‌

0.09%

Honeywell

International

Inc

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

2,467

3,484‌

0.31%

Hoya

Corp

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

8,034

6,881‌

0.62%

Huntington

Ingalls

Industries

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

474

951‌

0.09%

Husqvarna

AB,

Class

B

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

19,157

1,130‌

0.10%

Ibiden

Co.

Ltd.

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

1,972

604‌

0.05%

Indutrade

AB

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

7,378

1,386‌

0.12%

Investment

AB

Latour,

Class

B

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

3,025

548‌

0.05%

James

Hardie

Industries

PLC

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

26,781

7,407‌

0.66%

Kawasaki

Kisen

Kaisha

Ltd

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

5,902

545‌

0.05%

Knight-Swift

Transportation

Holdings

Inc,

Class

A

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

13,706

5,189‌

0.46%

Kongsberg

Gruppen

ASA

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

4,364

2,075‌

0.19%

Kyocera

Corp

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

117,834

10,789‌

0.97%

Lockheed

Martin

Corp

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

1,743

5,456‌

0.49%

Makita

Corp

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

25,068

4,873‌

0.44%

Masco

Corp

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

13,699

7,435‌

0.67%

MINEBEA

MITSUMI

Inc

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

7,247

973‌

0.09%

MISUMI

Group

Inc

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

11,023

1,053‌

0.09%

Mitsui

OSK

Lines

Ltd

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

2,631

552‌

0.05%

MTU

Aero

Engines

AG

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

325

567‌

0.05%

Nibe

Industrier

AB,

Class

B

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

123,786

4,187‌

0.37%

NIPPON

EXPRESS

HOLDINGS

INC

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

13,713

4,807‌

0.43%

Northrop

Grumman

Corp

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

3,429

11,293‌

1.01%

Old

Dominion

Freight

Line

Inc

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

376

567‌

0.05%

Owens

Corning

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

4,878

5,598‌

0.50%

Republic

Services

Inc,

Class

A

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

441

581‌

0.05%

ROCKWOOL

A/S,

Class

B

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

1,014

2,292‌

0.20%

RTX

Corp

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

6,307

4,232‌

0.38%

Saab

AB,

Class

B

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

3,560

2,181‌

0.20%

Skanska

AB,

Class

B

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

15,509

1,901‌

0.17%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

8

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Industrial

(continued)

SKF

AB,

Class

B

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

29,999

$

4,218‌

0.38%

TE

Connectivity

Ltd

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

4,197

4,194‌

0.38%

Waste

Connections

Inc

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

6,040

7,149‌

0.64%

Waste

Management

Inc

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

495

727‌

0.06%

Xylem

Inc/NY

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

2,964

2,635‌

0.24%

206,511‌

Technology

Applied

Materials

Inc

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

3,580

5,080‌

0.45%

ASM

International

NV

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

286

1,204‌

0.11%

ASML

Holding

NV

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

255

1,688‌

0.15%

Atlassian

Corp,

Class

A

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

2,017

2,708‌

0.24%

BE

Semiconductor

Industries

NV

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

3,642

3,842‌

0.34%

BILL

Holdings

Inc

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

11,240

5,315‌

0.48%

Broadridge

Financial

Solutions,

Inc.

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

4,841

6,824‌

0.61%

Constellation

Software

Inc/Can

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

534

10,044‌

0.90%

Dynatrace

Inc

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

7,949

2,540‌

0.23%

Electronic

Arts

Inc

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

4,389

4,007‌

0.36%

Fair

Isaac

Corp

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

215

1,848‌

0.17%

Fortinet

Inc

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

1,230

578‌

0.05%

Jack

Henry

&

Associates

Inc

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

614

734‌

0.07%

Lam

Research

Corp

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

135

905‌

0.08%

Leidos

Holdings,

Inc.

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

1,855

1,673‌

0.15%

Manhattan

Associates

Inc

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

4,282

7,372‌

0.66%

Micron

Technology

Inc

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

707

573‌

0.05%

Microsoft

Corp

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

388

1,124‌

0.10%

Monolithic

Power

Systems,

Inc.

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

2,408

11,224‌

1.00%

MSCI,

Inc.,

Class

A

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

583

2,248‌

0.20%

Nemetschek

SE

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

1,645

1,121‌

0.10%

Paycom

Software,

Inc.

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

2,245

3,074‌

0.27%

QUALCOMM

Inc

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

5,877

6,847‌

0.61%

Samsara

Inc,

Class

A

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

11,909

3,097‌

0.28%

ServiceNow

Inc

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

340

1,783‌

0.16%

Tokyo

Electron

Ltd

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

625

1,116‌

0.10%

UiPath

Inc,

Class

A

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

44,282

6,907‌

0.62%

Zscaler,

Inc.

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

845

1,120‌

0.10%

96,596‌

Utilities

AES

Corp.

(The)

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

76,623

9,453‌

0.85%

Canadian

Utilities

Ltd,

Class

A

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

4,006

628‌

0.06%

CenterPoint

Energy

Inc

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

2,995

587‌

0.05%

Centrica

PLC

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

552,803

6,134‌

0.55%

NRG

Energy,

Inc.

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

1,308

609‌

0.05%

RWE

AG

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

5,673

1,327‌

0.12%

Sembcorp

Industries

Ltd

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

94,037

2,589‌

0.23%

United

Utilities

Group

PLC

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

7,133

638‌

0.06%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

9

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Utilities

(continued)

Xcel

Energy

Inc

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

1,587

$

587‌

0.05%

22,552‌

Total

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

$

1,117,906‌

100.00%

*

The

following

table

shows

the

individual

positions

and

related

values

of

the

securities

within

the

BNP

Custom

Global

Short

Equity

Index

basket.

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

Basic

Materials

Agnico

Eagle

Mines

Ltd

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

(5,589)

$

(3,090‌)

0.20%

Anglo

American

PLC

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

(11,189)

(2,555‌)

0.17%

Antofagasta

PLC

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

(34,670)

(8,272‌)

0.55%

Barrick

Gold

Corp

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

(52,611)

(8,113‌)

0.54%

Ecolab

Inc

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

(373)

(799‌)

0.05%

EMS-Chemie

Holding

AG

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

(294)

(2,089‌)

0.14%

First

Quantum

Minerals

Ltd

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

(57,188)

(5,699‌)

0.38%

Freeport-McMoRan,

Inc.

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

(2,916)

(1,270‌)

0.08%

Givaudan

SA

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

(66)

(2,744‌)

0.18%

Ivanhoe

Mines

Ltd,

Class

A

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

(41,860)

(4,630‌)

0.31%

Kinross

Gold

Corp

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

(17,975)

(1,022‌)

0.07%

Lundin

Mining

Corp

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

(10,186)

(966‌)

0.06%

Mitsubishi

Chemical

Group

Corp

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

(146,003)

(8,217‌)

0.54%

Pan

American

Silver

Corp

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

(12,088)

(1,689‌)

0.11%

Pilbara

Minerals

Ltd

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

(212,421)

(4,917‌)

0.33%

South32

Ltd.

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

(154,444)

(2,800‌)

0.19%

Westlake

Corp

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

(659)

(933‌)

0.06%

(59,805‌)

Communications

Airbnb

Inc,

Class

A

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

(2,442)

(3,732‌)

0.25%

Bollore

SE

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

(19,354)

(1,199‌)

0.08%

BT

Group

PLC,

Class

A

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

(60,871)

(781‌)

0.05%

Delivery

Hero

SE,

144A

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

(31,876)

(8,458‌)

0.56%

eBay

Inc

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

(24,102)

(11,784‌)

0.78%

GEN

Digital,

Inc.

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

(17,674)

(3,667‌)

0.24%

Grab

Holdings

Ltd.,

Class

A

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

(27,267)

(793‌)

0.05%

Hikari

Tsushin

Inc

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

(1,682)

(2,917‌)

0.19%

Liberty

Global

Ltd

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

(27,877)

(4,555‌)

0.30%

Liberty

Media

Corp-Liberty

Formula

One,

Class

C

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

(11,625)

(7,064‌)

0.47%

Liberty

Media

Corp-Liberty

SiriusXM

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

(8,175)

(2,250‌)

0.15%

Netflix,

Inc.

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

(398)

(2,238‌)

0.15%

Okta

Inc

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

(5,066)

(4,910‌)

0.32%

Paramount

Global,

Class

B

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

(8,022)

(875‌)

0.06%

Pearson

PLC

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

(54,083)

(6,595‌)

0.44%

Prosus

NV

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

(2,662)

(774‌)

0.05%

Rakuten

Group

Inc

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

(279,803)

(14,663‌)

0.97%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

10

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Communications

(continued)

Robinhood

Markets

Inc,

Class

A

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

(17,008)

$

(3,171‌)

0.21%

Sea

Ltd,

ADR

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

(3,242)

(1,613‌)

0.11%

SEEK

Ltd

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

(6,218)

(941‌)

0.06%

Snap

Inc,

Class

A

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

(36,253)

(3,855‌)

0.25%

Softbank

Group

Corp.

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

(12,862)

(7,057‌)

0.47%

Swisscom

AG

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

(2,071)

(11,740‌)

0.78%

Telecom

Italia

Spa/Milano

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

(1,241,310)

(2,796‌)

0.18%

T-Mobile

US,

Inc.

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

(504)

(762‌)

0.05%

Trade

Desk

Inc/The,

Class

A

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

(3,715)

(3,009‌)

0.20%

Vivendi

SE

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

(39,393)

(3,981‌)

0.26%

Walt

Disney

Co/The

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

(696)

(789‌)

0.05%

Warner

Bros

Discovery

Inc

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

(193,550)

(15,652‌)

1.04%

Zillow

Group

Inc,

Class

C

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

(17,641)

(7,971‌)

0.53%

(140,592‌)

Consumer,

Cyclical

Accor

SA

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

(1,758)

(762‌)

0.05%

Air

Canada

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

(5,838)

(784‌)

0.05%

Autozone,

Inc.

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

(483)

(14,103‌)

0.93%

Caesars

Entertainment

Inc

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

(5,777)

(2,340‌)

0.16%

CarMax

Inc

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

(18,778)

(15,152‌)

1.00%

Carnival

Corp.

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

(7,796)

(1,180‌)

0.08%

Cie

Financiere

Richemont

SA,

Class

A

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

(562)

(795‌)

0.05%

Daiwa

House

Industry

Co

Ltd

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

(2,787)

(766‌)

0.05%

Dollar

General

Corp

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

(9,151)

(13,228‌)

0.88%

Dr

Ing

hc

F

Porsche

AG,

Class

Preference,

144A

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

(4,790)

(4,423‌)

0.29%

Ferguson

PLC

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

(6,146)

(12,434‌)

0.82%

Lowe's

Cos

Inc

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

(6,372)

(15,034‌)

0.99%

LVMH

Moet

Hennessy

Louis

Vuitt

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

(91)

(757‌)

0.05%

Moncler

SpA

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

(1,122)

(777‌)

0.05%

Nitori

Holdings

Co

Ltd

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

(4,751)

(6,638‌)

0.44%

NVR,

Inc.

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

(168)

(12,600‌)

0.83%

Reece

Ltd

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

(10,501)

(1,783‌)

0.12%

Renault

SA

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

(1,625)

(761‌)

0.05%

Restaurant

Brands

Internationa

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

(13,345)

(9,825‌)

0.65%

Rivian

Automotive

Inc,

Class

A

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

(38,895)

(3,945‌)

0.26%

Royal

Caribbean

Cruises

Ltd

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

(1,375)

(1,770‌)

0.12%

Sekisui

Chemical

Co.

Ltd.

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

(16,821)

(2,274‌)

0.15%

Shimano

Inc

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

(588)

(813‌)

0.05%

Suzuki

Motor

Corp

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

(99,247)

(10,457‌)

0.69%

Swatch

Group

AG

(The)

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

(3,701)

(7,969‌)

0.53%

Swatch

Group

AG/The

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

(1,848)

(777‌)

0.05%

Volkswagen

AG

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

(1,132)

(1,603‌)

0.11%

Volvo

Car

AB,

Class

B

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

(105,645)

(3,714‌)

0.25%

Walmart

Inc

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

(3,385)

(1,886‌)

0.13%

Zalando

SE,

144A

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

(27,572)

(7,309‌)

0.48%

(156,659‌)

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

11

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Non-cyclical

Abbott

Laboratories

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

(1,339)

$

(1,410‌)

0.09%

Aeon

Co

Ltd

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

(26,657)

(5,849‌)

0.39%

Alcon

Inc

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

(18,884)

(14,512‌)

0.96%

Alnylam

Pharmaceuticals

Inc

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

(3,284)

(4,547‌)

0.30%

Altria

Group,

Inc.

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

(4,159)

(1,680‌)

0.11%

Anheuser-Busch

InBev

SA/NV

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

(26,871)

(15,181‌)

1.00%

Argenx

SE

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

(1,274)

(4,666‌)

0.31%

Avantor

Inc

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

(18,659)

(4,420‌)

0.29%

Bachem

Holding

AG,

Class

B

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

(2,201)

(1,955‌)

0.13%

Bayer

AG

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

(43,844)

(12,473‌)

0.83%

Becton

Dickinson

&

Co

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

(1,476)

(3,383‌)

0.22%

Biogen,

Inc.

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

(1,418)

(2,833‌)

0.19%

Block,

Inc.

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

(971)

(761‌)

0.05%

Bureau

Veritas

SA

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

(3,804)

(1,076‌)

0.07%

Campbell

Soup

Co.

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

(16,870)

(6,946‌)

0.46%

Carl

Zeiss

Meditec

AG

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

(1,714)

(1,987‌)

0.13%

Celsius

Holdings

Inc

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

(4,498)

(3,455‌)

0.23%

Charles

River

Laboratories

International

Inc

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

(6,098)

(15,304‌)

1.01%

Chocoladefabriken

Lindt

&

Spru

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

(25)

(2,788‌)

0.18%

Church

&

Dwight

Co

Inc

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

(3,660)

(3,537‌)

0.23%

Cooper

Cos.,

Inc.

(The)

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

(1,314)

(1,235‌)

0.08%

Corpay

Inc

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

(1,957)

(5,593‌)

0.37%

CoStar

Group

Inc

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

(16,618)

(14,870‌)

0.98%

Danaher

Corp.

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

(3,908)

(9,040‌)

0.60%

Davide

Campari-Milano

NV

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

(73,288)

(6,831‌)

0.45%

DiaSorin

SpA

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

(3,640)

(3,260‌)

0.22%

Edwards

Lifesciences

Corp.

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

(873)

(773‌)

0.05%

Eisai

Co

Ltd

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

(37,865)

(14,444‌)

0.96%

Endeavour

Group

Ltd/Australia

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

(95,134)

(3,168‌)

0.21%

Essilorluxottica

SA

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

(2,390)

(5,015‌)

0.33%

Exact

Sciences

Corp

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

(10,529)

(6,735‌)

0.45%

Fresenius

Medical

Care

AG

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

(2,157)

(769‌)

0.05%

Fresenius

SE

&

Co

KGaA

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

(28,702)

(7,180‌)

0.48%

FUJIFILM

Holdings

Corp

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

(38,542)

(7,994‌)

0.53%

Grifols

SA

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

(35,357)

(2,950‌)

0.20%

Haleon

PLC

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

(242,442)

(9,450‌)

0.63%

HCA

Healthcare

Inc

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

(251)

(775‌)

0.05%

Heineken

Holding

NV

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

(2,368)

(1,773‌)

0.12%

Hikma

Pharmaceuticals

PLC

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

(16,184)

(3,633‌)

0.24%

Hormel

Foods

Corp

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

(47,017)

(15,195‌)

1.01%

Illumina

Inc

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

(2,159)

(2,747‌)

0.18%

Ipsen

SA

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

(1,791)

(1,977‌)

0.13%

IQVIA

Holdings,

Inc.

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

(460)

(1,077‌)

0.07%

Keurig

Dr

Pepper

Inc

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

(52,626)

(14,951‌)

0.99%

Kraft

Heinz

Co/The

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

(11,808)

(4,036‌)

0.27%

Kyowa

Kirin

Co.

Ltd.

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

(6,036)

(1,003‌)

0.07%

L'Oreal

SA

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

(173)

(759‌)

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

12

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Non-cyclical

(continued)

McCormick

&

Co

Inc/MD

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

(1,820)

$

(1,295‌)

0.09%

Merck

KGaA

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

(6,981)

(11,428‌)

0.76%

Moderna

Inc

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

(9,182)

(9,063‌)

0.60%

Molson

Coors

Beverage

Co,

Class

B

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

(18,811)

(11,718‌)

0.78%

Mondelez

International

Inc,

Class

A

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

(2,248)

(1,458‌)

0.10%

Novartis

AG

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

(858)

(771‌)

0.05%

Ocado

Group

PLC

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

(57,334)

(3,053‌)

0.20%

Otsuka

Holdings

Co

Ltd

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

(28,859)

(11,079‌)

0.73%

Pernod

Ricard

SA

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

(4,360)

(6,542‌)

0.43%

Procter

&

Gamble

Co.

(The)

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

(2,174)

(3,268‌)

0.22%

RB

Global

Inc

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

(3,270)

(2,309‌)

0.15%

Recordati

Industria

Chimica

e

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

(2,167)

(1,111‌)

0.07%

Remy

Cointreau

SA

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

(2,325)

(2,174‌)

0.14%

Rentokil

Initial

PLC

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

(25,440)

(1,404‌)

0.09%

Repligen

Corp

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

(2,303)

(3,924‌)

0.26%

Revvity

Inc

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

(2,690)

(2,616‌)

0.17%

Roche

Holding

AG

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

(361)

(902‌)

0.06%

Royalty

Pharma

PLC,

Class

A

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

(2,741)

(771‌)

0.05%

Sartorius

Stedim

Biotech

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

(1,169)

(3,092‌)

0.21%

Seven

&

i

Holdings

Co

Ltd

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

(5,914)

(797‌)

0.05%

Shionogi

&

Co.

Ltd.

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

(15,710)

(7,437‌)

0.49%

STERIS

PLC

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

(3,775)

(7,861‌)

0.52%

Takeda

Pharmaceutical

Co

Ltd

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

(51,345)

(13,212‌)

0.87%

Teleflex

Inc

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

(1,425)

(2,985‌)

0.20%

Terumo

Corp

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

(12,485)

(2,109‌)

0.14%

Toast

Inc,

Class

A

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

(55,675)

(12,852‌)

0.85%

TransUnion

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

(20,501)

(15,154‌)

1.00%

Transurban

Group

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

(10,940)

(881‌)

0.06%

UCB

SA

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

(7,358)

(8,423‌)

0.56%

U-Haul

Holding

Co,

Class

B

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

(2,516)

(1,554‌)

0.10%

Viatris

Inc

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

(18,188)

(2,012‌)

0.13%

Waters

Corp

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

(371)

(1,183‌)

0.08%

Wise

PLC,

Class

A

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

(26,654)

(2,896‌)

0.19%

Worldline

SA/France,

144A

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

(6,706)

(770‌)

0.05%

(414,100‌)

Energy

AltaGas

Ltd,

Class

Common

Subs.

Receipt

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

(3,810)

(780‌)

0.05%

Cenovus

Energy

Inc

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

(68,536)

(12,703‌)

0.84%

Chesapeake

Energy

Corp

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

(3,922)

(3,227‌)

0.21%

Enbridge

Inc

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

(23,313)

(7,811‌)

0.52%

EQT

Corp

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

(4,676)

(1,606‌)

0.11%

Exxon

Mobil

Corp

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

(718)

(773‌)

0.05%

First

Solar

Inc

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

(836)

(1,306‌)

0.09%

Galp

Energia

SGPS

SA

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

(41,914)

(6,423‌)

0.42%

Kinder

Morgan

Inc

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

(90,093)

(15,306‌)

1.01%

Occidental

Petroleum

Corp.

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

(8,705)

(5,241‌)

0.35%

Phillips

66

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

(1,220)

(1,845‌)

0.12%

Santos

Ltd

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

(192,312)

(9,007‌)

0.60%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

13

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Energy

(continued)

Teck

Resources

Ltd.,

Class

B

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

(24,839)

$

(10,541‌)

0.70%

Valero

Energy

Corp

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

(7,843)

(12,400‌)

0.82%

Williams

Cos.,

Inc.

(The)

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

(42,437)

(15,319‌)

1.01%

(104,288‌)

Financial

Admiral

Group

PLC

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

(8,336)

(2,768‌)

0.18%

AIB

Group

PLC

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

(16,658)

(784‌)

0.05%

AvalonBay

Communities,

Inc.

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

(8,920)

(15,332‌)

1.01%

Banco

Santander

SA

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

(27,437)

(1,241‌)

0.08%

Banque

Cantonale

Vaudoise

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

(1,145)

(1,233‌)

0.08%

CaixaBank

SA

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

(17,511)

(787‌)

0.05%

Charles

Schwab

Corp/The

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

(1,509)

(1,011‌)

0.07%

Citigroup

Inc

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

(1,843)

(1,080‌)

0.07%

Coinbase

Global

Inc,

Class

A

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

(1,196)

(2,937‌)

0.19%

Commerzbank

AG

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

(13,803)

(1,758‌)

0.12%

Commonwealth

Bank

of

Australia

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

(1,169)

(850‌)

0.06%

Concordia

Financial

Group

Ltd

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

(38,239)

(1,777‌)

0.12%

Deutsche

Bank

AG

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

(7,655)

(1,117‌)

0.07%

Equity

Residential

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

(1,406)

(822‌)

0.05%

Essex

Property

Trust

Inc

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

(6,771)

(15,354‌)

1.02%

Eurazeo

SE

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

(2,704)

(2,198‌)

0.15%

Extra

Space

Storage

Inc

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

(11,450)

(15,591‌)

1.03%

Gaming

and

Leisure

Properties

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

(15,404)

(6,574‌)

0.44%

Hang

Seng

Bank

Ltd

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

(38,288)

(3,882‌)

0.26%

Helvetia

Holding

AG

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

(1,602)

(2,047‌)

0.14%

Intercontinental

Exchange,

Inc.

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

(3,467)

(4,414‌)

0.29%

Iron

Mountain

Inc

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

(20,664)

(15,353‌)

1.02%

Japan

Post

Insurance

Co

Ltd

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

(18,575)

(3,286‌)

0.22%

KKR

&

Co

Inc,

Class

Miscellaneous

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

(835)

(778‌)

0.05%

Klepierre

SA

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

(3,194)

(767‌)

0.05%

Leg

Immobilien

Se

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

(4,099)

(3,264‌)

0.22%

Mediobanca

Banca

di

Credito

Finanziario

SpA

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

(64,759)

(8,949‌)

0.59%

MS&AD

Insurance

Group

Holdings,

Inc.

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

(40,898)

(6,671‌)

0.44%

National

Bank

of

Canada

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

(2,984)

(2,330‌)

0.15%

ProLogis,

Inc.

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

(1,257)

(1,516‌)

0.10%

Realty

Income

Corp

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

(1,570)

(787‌)

0.05%

SBI

Holdings

Inc

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

(5,080)

(1,230‌)

0.08%

Sumitomo

Realty

&

Development

Co

Ltd

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

(8,057)

(2,770‌)

0.18%

Swiss

Prime

Site

AG

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

(1,979)

(1,731‌)

0.12%

Swiss

Re

AG

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

(7,780)

(9,275‌)

0.61%

T

Rowe

Price

Group

Inc

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

(13,491)

(15,236‌)

1.01%

Talanx

AG

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

(3,005)

(2,207‌)

0.15%

UBS

Group

AG

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

(3,970)

(1,132‌)

0.08%

Vicinity

Ltd

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

(229,380)

(2,953‌)

0.20%

Vonovia

SE

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

(41,529)

(11,386‌)

0.75%

Warehouses

De

Pauw

CVA

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

(3,074)

(814‌)

0.05%

Washington

H

Soul

Pattinson

&

Co

Ltd

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

(3,768)

(766‌)

0.05%

Weyerhaeuser

Co,

Class

REIT

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

(2,333)

(776‌)

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

14

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Financial

(continued)

Wharf

Real

Estate

Investment

Co.

Ltd.

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

(102,515)

$

(3,088‌)

0.20%

WP

Carey

Inc

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

(13,162)

(6,881‌)

0.46%

(187,503‌)

Industrial

Acciona

SA

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

(3,020)

(3,410‌)

0.23%

ACS

Actividades

de

Construccion

y

Servicios

SA

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

(13,643)

(5,294‌)

0.35%

Aeroports

de

Paris

SA

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

(1,912)

(2,432‌)

0.16%

Alstom

SA

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

(44,687)

(6,318‌)

0.42%

Axon

Enterprise

Inc

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

(5,084)

(14,735‌)

0.97%

Ball

Corp

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

(24,325)

(15,178‌)

1.00%

Bouygues

SA

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

(5,463)

(2,068‌)

0.14%

Brother

Industries

Ltd

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

(12,813)

(2,196‌)

0.15%

CAE

Inc

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

(3,989)

(764‌)

0.05%

Canadian

Pacific

Kansas

City

Ltd.

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

(1,925)

(1,573‌)

0.10%

Cellnex

Telecom

SA,

144A

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

(27,346)

(8,967‌)

0.59%

Central

Japan

Railway

Co.

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

(14,138)

(3,247‌)

0.22%

CK

Infrastructure

Holdings

Ltd

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

(15,163)

(822‌)

0.05%

Getlink

SE

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

(4,743)

(749‌)

0.05%

GFL

Environmental

Inc

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

(4,765)

(1,524‌)

0.10%

Hankyu

Hanshin

Holdings

Inc

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

(10,002)

(2,653‌)

0.18%

Heidelberg

Materials

AG

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

(6,692)

(6,827‌)

0.45%

Knorr-Bremse

AG

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

(1,198)

(840‌)

0.06%

Kuehne

+

Nagel

International

A

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

(2,272)

(5,864‌)

0.39%

Leonardo

SpA

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

(4,832)

(1,126‌)

0.07%

Martin

Marietta

Materials,

Inc.

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

(2,661)

(15,131‌)

1.00%

Metso

Oyj

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

(34,755)

(3,827‌)

0.25%

Mitsubishi

Electric

Corp

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

(12,021)

(1,856‌)

0.12%

Mitsubishi

Heavy

Industries

Lt

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

(10,684)

(893‌)

0.06%

Obayashi

Corp.

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

(27,899)

(3,063‌)

0.20%

Odakyu

Electric

Railway

Co

Ltd

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

(20,083)

(2,559‌)

0.17%

Prysmian

SpA

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

(1,566)

(758‌)

0.05%

Sartorius

AG

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

(1,157)

(4,268‌)

0.28%

Schindler

Holding

AG

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

(514)

(1,162‌)

0.08%

Siemens

Energy

AG

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

(44,402)

(7,555‌)

0.50%

Sika

AG

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

(275)

(759‌)

0.05%

Teledyne

Technologies

Inc

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

(3,823)

(15,205‌)

1.01%

Tenaris

SA

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

(11,986)

(2,197‌)

0.15%

Tokyu

Corp

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

(8,432)

(949‌)

0.06%

Toro

Co.

(The)

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

(9,899)

(8,402‌)

0.56%

TransDigm

Group

Inc

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

(633)

(7,225‌)

0.48%

Trimble,

Inc.

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

(4,886)

(2,913‌)

0.19%

West

Japan

Railway

Co

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

(34,001)

(6,557‌)

0.43%

(171,866‌)

Technology

Advanced

Micro

Devices,

Inc.

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

(1,178)

(1,969‌)

0.13%

Advantest

Corp

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

(6,954)

(2,850‌)

0.19%

ANSYS,

Inc.

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

(4,624)

(14,870‌)

0.98%

Aspen

Technology

Inc

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

(775)

(1,531‌)

0.10%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

15

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Technology

(continued)

Autodesk,

Inc.

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

(4,211)

$

(10,159‌)

0.67%

Bentley

Systems

Inc,

Class

B

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

(25,957)

(12,556‌)

0.83%

Capcom

Co

Ltd

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

(57,650)

(9,974‌)

0.66%

Capgemini

SE

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

(1,043)

(2,227‌)

0.15%

Ceridian

Hcm

Holding,

Inc.

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

(6,955)

(4,266‌)

0.28%

CGI

Inc,

Class

A

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

(7,362)

(7,530‌)

0.50%

Fujitsu

Ltd

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

(5,074)

(751‌)

0.05%

Hewlett

Packard

Enterprise

Co

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

(91,790)

(15,075‌)

1.00%

HP,

Inc.

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

(6,872)

(1,924‌)

0.13%

Infineon

Technologies

AG

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

(18,811)

(5,932‌)

0.39%

Lasertec

Corp

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

(1,881)

(4,944‌)

0.33%

Lattice

Semiconductor

Corp

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

(1,075)

(779‌)

0.05%

Microchip

Technology

Inc

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

(2,957)

(2,457‌)

0.16%

NEC

Corp

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

(7,754)

(5,228‌)

0.35%

Netapp,

Inc.

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

(4,510)

(4,386‌)

0.29%

Nexon

Co

Ltd

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

(7,356)

(1,130‌)

0.07%

NTT

Data

Group

Corp

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

(40,239)

(5,899‌)

0.39%

Oracle

Corp

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

(10,493)

(12,209‌)

0.81%

Ricoh

Co

Ltd

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

(53,246)

(4,373‌)

0.29%

ROBLOX

Corp,

Class

A

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

(2,204)

(779‌)

0.05%

Seiko

Epson

Corp

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

(34,395)

(5,548‌)

0.37%

Synopsys,

Inc.

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

(2,756)

(14,592‌)

0.97%

Take-Two

Interactive

Software,Inc.

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

(10,980)

(15,102‌)

1.00%

Temenos

AG

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

(4,442)

(2,945‌)

0.19%

Texas

Instruments,

Inc.

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

(4,351)

(7,021‌)

0.46%

Unity

Software

Inc

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

(4,968)

(1,229‌)

0.08%

Veeva

Systems,

Inc.,

Class

A

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

(352)

(756‌)

0.05%

Xero

Ltd

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

(11,235)

(9,051‌)

0.60%

Zebra

Technologies

Corp,

Class

A

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

(4,171)

(11,647‌)

0.77%

Zoom

Video

Communications,

Inc.,

Class

A

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

(5,187)

(3,141‌)

0.21%

(204,830‌)

Utilities

BKW

AG

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

(555)

(790‌)

0.05%

Brookfield

Renewable

Corp,

Class

A

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

(6,425)

(1,462‌)

0.10%

Chubu

Electric

Power

Co

Inc

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

(6,230)

(753‌)

0.05%

CLP

Holdings

Ltd

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

(65,641)

(4,844‌)

0.32%

Dominion

Energy

Inc

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

(24,104)

(10,983‌)

0.73%

EDP

-

Energias

de

Portugal

SA

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

(107,217)

(3,873‌)

0.26%

EDP

Renovaveis

SA

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

(23,293)

(2,924‌)

0.19%

Elia

Group

SA/NV

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

(1,709)

(1,710‌)

0.11%

Endesa

SA

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

(9,118)

(1,566‌)

0.10%

Essential

Utilities

Inc

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

(11,790)

(4,046‌)

0.27%

Hong

Kong

&

China

Gas

Co

Ltd

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

(352,842)

(2,477‌)

0.16%

Hydro

One

Ltd.,

144A

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

(2,909)

(786‌)

0.05%

Iberdrola

SA

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

(11,587)

(1,333‌)

0.09%

Kansai

Electric

Power

Co

Inc/T

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

(83,915)

(11,040‌)

0.73%

Meridian

Energy

Ltd

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

(26,087)

(854‌)

0.06%

Northland

Power

Inc

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

(5,193)

(787‌)

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

16

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Utilities

(continued)

Osaka

Gas

Co

Ltd

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

(4,182)

$

(870‌)

0.06%

PG&E

Corp.

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

(8,047)

(1,249‌)

0.08%

Power

Assets

Holdings

Ltd

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

(19,199)

(1,041‌)

0.07%

Public

Service

Enterprise

Group

Inc

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

(1,286)

(795‌)

0.05%

Redeia

Corp

SA

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

(6,839)

(1,082‌)

0.07%

Southern

Co.

(The)

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

(17,394)

(11,559‌)

0.77%

Terna

-

Rete

Elettrica

Naziona

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

(12,026)

(922‌)

0.06%

Verbund

AG

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

(4,330)

(2,935‌)

0.19%

Vistra

Corp

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

(1,813)

(1,170‌)

0.08%

(71,851‌)

Total

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

$

(1,511,494‌)

100.00%

*

The

following

table

shows

the

individual

positions

and

related

values

of

the

securities

within

the

Goldman

Sachs

Custom

Global

Long

Equity

Index

basket.

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

Basic

Materials

Air

Liquide

SA

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

2,021

$

1,649‌

0.26%

Albemarle

Corp.

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

1,419

732‌

0.11%

BHP

Group

Ltd

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

4,141

468‌

0.07%

BlueScope

Steel

Ltd

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

42,112

2,566‌

0.40%

Boliden

AB

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

19,612

2,135‌

0.33%

Brenntag

SE

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

5,130

1,695‌

0.27%

Cleveland-Cliffs

Inc

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

35,588

3,169‌

0.50%

Covestro

AG,

144A

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

1,683

361‌

0.06%

Eastman

Chemical

Co

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

2,073

813‌

0.13%

Glencore

PLC

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

47,566

1,024‌

0.16%

Holmen

AB,

Class

B

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

4,207

671‌

0.11%

International

Paper

Co

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

2,030

310‌

0.05%

Mosaic

Co/The

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

6,492

825‌

0.13%

Nissan

Chemical

Corp

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

2,905

430‌

0.07%

Norsk

Hydro

ASA

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

87,022

1,866‌

0.29%

Novozymes

A/S,

Class

B

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

14,479

3,328‌

0.52%

Rio

Tinto

Ltd

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

16,091

5,006‌

0.78%

Rio

Tinto

PLC

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

25,408

6,307‌

0.99%

Sumitomo

Metal

Mining

Co

Ltd

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

47,383

5,498‌

0.86%

voestalpine

AG

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

3,234

356‌

0.06%

Yara

International

ASA

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

17,752

2,198‌

0.34%

41,407‌

Communications

Elisa

Oyj

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

2,527

442‌

0.07%

Expedia

Group

Inc

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

1,867

1,007‌

0.16%

FactSet

Research

Systems,

Inc.

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

189

336‌

0.05%

Juniper

Networks

Inc

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

14,867

2,158‌

0.34%

KDDI

Corp

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

19,599

2,266‌

0.36%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

17

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Communications

(continued)

Koninklijke

KPN

NV

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

203,981

$

2,991‌

0.47%

Meta

Platforms

Inc,

Class

A

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

2,234

4,248‌

0.67%

News

Corp,

Class

A

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

45,350

4,650‌

0.73%

Nippon

Telegraph

&

Telephone

C

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

183,884

857‌

0.13%

Pinterest

Inc,

Class

A

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

2,353

320‌

0.05%

Rogers

Communications

Inc,

Class

B

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

2,815

452‌

0.07%

Spark

New

Zealand

Ltd.

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

28,256

315‌

0.05%

Tele2

AB,

Class

B

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

56,482

1,818‌

0.29%

Telefonaktiebolaget

LM

Ericsson,

Class

B

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

17,833

377‌

0.06%

Telenor

ASA

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

29,740

1,297‌

0.20%

Trend

Micro

Inc/Japan

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

20,580

4,083‌

0.64%

VeriSign

Inc

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

8,482

6,295‌

0.99%

Vodafone

Group

PLC

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

96,971

338‌

0.05%

Wolters

Kluwer

NV

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

10,289

6,320‌

0.99%

WPP

PLC

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

27,895

1,040‌

0.16%

41,610‌

Consumer,

Cyclical

adidas

AG

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

5,695

4,987‌

0.78%

Aristocrat

Leisure

Ltd.

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

21,618

2,375‌

0.37%

Bandai

Namco

Holdings

Inc

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

10,568

765‌

0.12%

BorgWarner

Inc

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

2,602

354‌

0.06%

Burlington

Stores

Inc

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

372

338‌

0.05%

Canadian

Tire

Corp

Ltd,

Class

A

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

851

333‌

0.05%

Chipotle

Mexican

Grill

Inc,

Class

A

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

138

1,574‌

0.25%

Darden

Restaurants

Inc

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

4,041

2,645‌

0.42%

Deckers

Outdoor

Corp

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

275

1,015‌

0.16%

Dick's

Sporting

Goods,

Inc.

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

667

588‌

0.09%

Evolution

AB,

144A

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

6,413

3,125‌

0.49%

Ferrari

NV

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

1,094

1,870‌

0.29%

Genuine

Parts

Co

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

1,529

928‌

0.15%

Gildan

Activewear,

Inc.,

Class

A

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

2,187

318‌

0.05%

H

&

M

Hennes

&

Mauritz

AB,

Class

B

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

33,754

2,158‌

0.34%

Hasbro,

Inc.

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

3,220

713‌

0.11%

Hilton

Worldwide

Holdings

Inc

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

2,597

2,169‌

0.34%

Iida

Group

Holdings

Co

Ltd

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

12,360

624‌

0.10%

InterContinental

Hotels

Group

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

832

339‌

0.05%

Isuzu

Motors

Ltd.

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

94,357

4,980‌

0.78%

Jardine

Cycle

&

Carriage

Ltd

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

11,490

806‌

0.13%

Koito

Manufacturing

Co.

Ltd.

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

63,359

3,337‌

0.52%

La

Francaise

des

Jeux

SAEM,

144A

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

3,990

638‌

0.10%

Lear

Corp.

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

11,178

6,342‌

0.99%

Lennar

Corp,

Class

A

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

7,478

5,037‌

0.79%

Lululemon

Athletica

Inc

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

2,258

3,454‌

0.54%

Mazda

Motor

Corp

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

14,974

683‌

0.11%

McDonald's

Corp

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

925

1,021‌

0.16%

McDonald's

Holdings

Co

Japan

Ltd

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

1,815

320‌

0.05%

NIKE

Inc,

Class

B

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

1,095

403‌

0.06%

Nintendo

Co

Ltd

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

9,133

1,952‌

0.31%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

18

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Cyclical

(continued)

Panasonic

Holdings

Corp

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

168,325

$

6,267‌

0.98%

Pandora

A/S

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

3,530

2,231‌

0.35%

Persimmon

PLC

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

36,625

2,385‌

0.37%

Rational

AG

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

198

671‌

0.11%

Ross

Stores,

Inc.

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

10,948

6,292‌

0.99%

Sands

China

Ltd.

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

269,326

2,972‌

0.47%

Sekisui

House

Ltd.

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

61,219

5,441‌

0.85%

Sumitomo

Corp

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

19,771

1,857‌

0.29%

Taylor

Wimpey

PLC

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

46,695

317‌

0.05%

TJX

Cos

Inc/The

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

16,083

6,388‌

1.00%

USS

Co

Ltd

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

30,916

1,000‌

0.16%

Volvo

AB,

Class

B

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

4,568

485‌

0.08%

Whitbread

PLC

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

1,950

320‌

0.05%

Wynn

Resorts

Ltd

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

1,353

542‌

0.09%

Yamaha

Motor

Co

Ltd

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

9,426

339‌

0.05%

Zensho

Holdings

Co

Ltd

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

12,117

1,974‌

0.31%

95,672‌

Consumer,

Non-cyclical

Adyen

NV,

144A

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

334

2,217‌

0.35%

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

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

2,424

1,409‌

0.22%

Cardinal

Health

Inc

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

10,722

4,699‌

0.74%

Carlsberg

AS,

Class

B

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

5,012

2,683‌

0.42%

Ck

Hutchison

Holdings

Ltd.

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

112,344

2,125‌

0.33%

Clorox

Co/The

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

8,827

5,293‌

0.83%

Coca-Cola

Co.

(The)

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

1,367

328‌

0.05%

Cochlear

Ltd

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

3,624

3,125‌

0.49%

Coloplast

A/S,

Class

B

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

601

318‌

0.05%

Corteva

Inc

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

7,559

1,707‌

0.27%

Darling

Ingredients

Inc

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

7,352

1,339‌

0.21%

Demant

A/S

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

3,481

677‌

0.11%

Dexcom,

Inc.

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

10,798

5,865‌

0.92%

Diageo

PLC

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

2,222

322‌

0.05%

Edenred

SE

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

15,149

3,170‌

0.50%

Elevance

Health

Inc

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

992

2,014‌

0.32%

Essity

AB,

Class

B

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

31,213

2,906‌

0.46%

Experian

PLC

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

1,969

336‌

0.05%

Gartner

Inc

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

289

539‌

0.08%

General

Mills,

Inc.

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

1,278

350‌

0.05%

Genmab

A/S

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

3,305

3,907‌

0.61%

Getinge

AB,

Class

B

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

18,778

1,481‌

0.23%

Henkel

AG

&

Co

KGaA

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

1,568

494‌

0.08%

Hershey

Co.

(The)

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

426

324‌

0.05%

Hologic

Inc

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

11,650

3,557‌

0.56%

Humana,

Inc.

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

687

932‌

0.15%

IDP

Education

Ltd

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

45,920

2,102‌

0.33%

Imperial

Brands

PLC

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

3,942

345‌

0.05%

Lamb

Weston

Holdings,

Inc.

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

5,978

2,494‌

0.39%

Lifco

AB,

Class

B

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

5,912

605‌

0.10%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

19

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Non-cyclical

(continued)

MEIJI

Holdings

Co

Ltd

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

3,584

$

306‌

0.05%

Molina

Healthcare,

Inc.

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

684

1,101‌

0.17%

Mowi

ASA

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

16,801

1,207‌

0.19%

Nissin

Foods

Holdings

Co

Ltd

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

31,024

3,348‌

0.53%

Novo

Nordisk

A/S,

Class

B

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

3,297

1,648‌

0.26%

Ono

Pharmaceutical

Co

Ltd

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

54,680

3,506‌

0.55%

Orion

Oyj,

Class

B

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

5,866

858‌

0.13%

Orkla

ASA

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

24,086

666‌

0.10%

RELX

PLC

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

3,341

566‌

0.09%

ResMed

Inc

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

1,319

1,023‌

0.16%

Robert

Half

Inc

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

11,525

3,578‌

0.56%

S&P

Global

Inc

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

208

347‌

0.05%

Sonic

Healthcare

Ltd

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

7,572

569‌

0.09%

Sysco

Corp

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

1,009

321‌

0.05%

Sysmex

Corp

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

4,624

322‌

0.05%

Tesco

PLC

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

22,231

326‌

0.05%

Unicharm

Corp.

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

31,944

3,984‌

0.62%

Verisk

Analytics

Inc,

Class

A

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

6,961

6,427‌

1.01%

Vertex

Pharmaceuticals

Inc

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

1,597

2,614‌

0.41%

90,380‌

Energy

Aker

BP

ASA

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

15,434

1,504‌

0.24%

ARC

Resources

Ltd

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

5,151

360‌

0.06%

Devon

Energy

Corp

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

14,383

2,827‌

0.44%

Enphase

Energy

Inc

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

733

347‌

0.06%

Equinor

ASA

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

40,810

4,220‌

0.66%

Hess

Corp

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

9,095

5,437‌

0.85%

Inpex

Corp

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

19,535

1,163‌

0.18%

Texas

Pacific

Land

Corp

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

1,179

2,672‌

0.42%

Vestas

Wind

Systems

A/S

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

43,111

4,719‌

0.74%

23,249‌

Financial

abrdn

plc

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

53,769

375‌

0.06%

Aegon

Ltd

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

167,171

3,996‌

0.63%

Allianz

SE

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

5,418

6,367‌

1.00%

Allstate

Corp.

(The)

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

5,448

3,691‌

0.58%

American

Financial

Group

,Inc.

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

7,314

3,909‌

0.61%

American

International

Group

I

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

2,492

763‌

0.12%

Ameriprise

Financial

Inc

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

3,745

6,431‌

1.01%

Aon

PLC,

Class

A

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

1,828

2,388‌

0.38%

Arch

Capital

Group

Ltd

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

2,200

796‌

0.13%

Arthur

J

Gallagher

&

Co.

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

1,544

1,512‌

0.24%

Assurant,

Inc.

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

1,733

1,277‌

0.20%

Bank

of

New

York

Mellon

Corp.

(The)

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

9,241

2,085‌

0.33%

Boston

Properties

Inc

............................................

13,633

3,487‌

0.55%

Brookfield

Corp,

Class

A

..........................................

22,710

3,725‌

0.58%

Canadian

Apartment

Properties,

Class

REIT

..........................

2,510

338‌

0.05%

CapitaLand

Ascendas

REIT

.......................................

104,967

844‌

0.13%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

20

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Financial

(continued)

Cboe

Global

Markets,

Inc.

........................................

1,799

$

1,294‌

0.20%

Cincinnati

Financial

Corp.

.........................................

707

344‌

0.05%

Citizens

Financial

Group,

Inc.

......................................

18,621

2,646‌

0.42%

CK

Asset

Holdings

Ltd

...........................................

86,563

1,395‌

0.22%

Danske

Bank

A/S

...............................................

2,720

319‌

0.05%

Dexus

........................................................

16,513

334‌

0.05%

Discover

Financial

Services

.......................................

4,379

2,248‌

0.35%

DNB

Bank

ASA

.................................................

33,066

2,568‌

0.40%

Equitable

Holdings

Inc

...........................................

43,182

6,428‌

1.01%

Equity

LifeStyle

Properties,

Inc.

....................................

1,568

395‌

0.06%

Everest

Group

Ltd

...............................................

1,065

1,658‌

0.26%

Fairfax

Financial

Holdings

Ltd.

.....................................

76

320‌

0.05%

Gjensidige

Forsikring

ASA

........................................

5,882

334‌

0.05%

Globe

Life

Inc

..................................................

13,881

6,326‌

0.99%

GLP

J-Reit,

Class

REIT

..........................................

668

2,194‌

0.34%

Great-West

Lifeco

Inc

............................................

5,180

649‌

0.10%

Hargreaves

Lansdown

PLC

.......................................

9,152

333‌

0.05%

Hartford

Financial

Services

Group

,Inc.(The)

..........................

16,053

6,479‌

1.02%

iA

Financial

Corp

Inc

.............................................

5,137

1,251‌

0.20%

Industrivarden

AB,

Class

A

........................................

2,780

375‌

0.06%

Industrivarden

AB,

Class

C

........................................

3,761

507‌

0.08%

Intact

Financial

Corp

.............................................

3,845

2,448‌

0.38%

Investor

AB,

Class

B

.............................................

3,460

340‌

0.05%

Japan

Exchange

Group

Inc

.......................................

12,110

1,280‌

0.20%

Japan

Metropolitan

Fund

Invest,

Class

REIT

..........................

719

1,755‌

0.28%

KDX

Realty

Investment

Corp,

Class

REIT

............................

78

325‌

0.05%

KeyCorp

......................................................

77,246

4,783‌

0.75%

L

E

Lundbergforetagen

AB,

Class

B

.................................

1,904

404‌

0.06%

Land

Securities

Group

PLC

.......................................

10,974

357‌

0.06%

Legal

&

General

Group

PLC

.......................................

211,463

2,661‌

0.42%

LPL

Financial

Holdings

Inc

........................................

540

559‌

0.09%

Manulife

Financial

Corp,

Class

Common

Subs.

Receipt

.................

66,550

6,515‌

1.02%

Marsh

&

McLennan

Cos

Inc

.......................................

405

327‌

0.05%

Mastercard

Inc,

Class

A

..........................................

3,392

6,397‌

1.00%

MetLife

Inc

.....................................................

17,409

5,053‌

0.79%

Northern

Trust

Corp.

.............................................

1,454

506‌

0.08%

Phoenix

Group

Holdings

PLC

......................................

25,056

685‌

0.11%

Power

Corp

of

Canada

...........................................

3,041

334‌

0.05%

Principal

Financial

Group

Inc

......................................

19,129

6,466‌

1.01%

Progressive

Corp/The

............................................

3,703

2,999‌

0.47%

Raymond

James

Financial,

Inc.

....................................

5,204

2,617‌

0.41%

RioCan

Real

Estate

Investment,

Class

Trust

Unit

......................

18,523

990‌

0.16%

Singapore

Exchange

Ltd

..........................................

17,911

479‌

0.08%

Skandinaviska

Enskilda

Banken

AB,

Class

A

..........................

65,700

3,488‌

0.55%

St

James's

Place

PLC

............................................

38,012

873‌

0.14%

State

Street

Corp

...............................................

7,755

2,348‌

0.37%

Sumitomo

Mitsui

Financial

Group,

Inc.

...............................

8,241

1,884‌

0.30%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

21

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Financial

(continued)

Sun

Life

Financial,

Inc.

...........................................

29,870

$

6,388‌

1.00%

Svenska

Handelsbanken

AB,

Class

A

...............................

151,046

5,989‌

0.94%

Swire

Pacific

Ltd,

Class

A

.........................................

35,669

1,149‌

0.18%

Synchrony

Financial

.............................................

1,983

335‌

0.05%

Tradeweb

Markets

Inc,

Class

A

.....................................

2,686

1,096‌

0.17%

Travelers

Cos

Inc/The

............................................

1,391

1,254‌

0.20%

Tryg

A/S

.......................................................

12,059

973‌

0.15%

UniCredit

SpA

..................................................

29,169

4,341‌

0.68%

W

R

Berkley

Corp

...............................................

1,338

463‌

0.07%

159,242‌

Industrial

AECOM

.......................................................

15,078

5,792‌

0.91%

AGC

Inc

.......................................................

24,194

3,433‌

0.54%

Alfa

Laval

AB

...................................................

12,686

1,955‌

0.31%

AP

Moller

-

Maersk

A/S,

Class

A

....................................

172

862‌

0.13%

AP

Moller

-

Maersk

A/S,

Class

B

...................................

575

2,932‌

0.46%

Assa

Abloy

AB,

Class

B

..........................................

16,972

1,909‌

0.30%

Atlas

Copco

AB

.................................................

68,546

4,539‌

0.71%

Atlas

Copco

AB,

Class

B

..........................................

20,659

1,197‌

0.19%

Azbil

Corp

.....................................................

7,139

770‌

0.12%

Beijer

Ref

AB,

Class

B

...........................................

14,294

832‌

0.13%

Canadian

National

Railway

Co

.....................................

9,927

5,124‌

0.80%

Carlisle

Cos.,

Inc.

...............................................

769

1,181‌

0.19%

CH

Robinson

Worldwide,

Inc.

......................................

1,112

332‌

0.05%

CNH

Industrial

NV

...............................................

65,887

3,344‌

0.52%

DSV

A/S

......................................................

2,819

1,794‌

0.28%

Epiroc

AB,

Class

A

..............................................

27,991

2,062‌

0.32%

Epiroc

AB,

Class

B

..............................................

7,765

516‌

0.08%

Expeditors

International

of

Washington

Inc

...........................

683

325‌

0.05%

Fanuc

Corp.

....................................................

25,909

2,830‌

0.44%

Fortune

Brands

Innovations

Inc

....................................

19,791

6,562‌

1.03%

Halma

PLC

....................................................

4,464

523‌

0.08%

Hirose

Electric

Co

Ltd

............................................

1,844

740‌

0.12%

Hitachi

Construction

Machinery

Co

Ltd

..............................

4,972

585‌

0.09%

Honeywell

International

Inc

........................................

2,491

2,002‌

0.31%

Hoya

Corp

.....................................................

8,030

3,915‌

0.61%

Huntington

Ingalls

Industries

.......................................

476

543‌

0.09%

Husqvarna

AB,

Class

B

...........................................

19,300

648‌

0.10%

Ibiden

Co.

Ltd.

..................................................

1,959

341‌

0.05%

Indutrade

AB

...................................................

7,367

788‌

0.12%

Investment

AB

Latour,

Class

B

.....................................

3,017

311‌

0.05%

James

Hardie

Industries

PLC

......................................

26,599

4,187‌

0.66%

Kawasaki

Kisen

Kaisha

Ltd

........................................

5,951

313‌

0.05%

Knight-Swift

Transportation

Holdings

Inc,

Class

A

......................

13,854

2,985‌

0.47%

Kongsberg

Gruppen

ASA

.........................................

4,376

1,184‌

0.19%

Kyocera

Corp

..................................................

117,715

6,135‌

0.96%

Lockheed

Martin

Corp

............................................

1,743

3,106‌

0.49%

Makita

Corp

....................................................

25,119

2,779‌

0.44%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

22

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Industrial

(continued)

Masco

Corp

....................................................

13,840

$

4,275‌

0.67%

MINEBEA

MITSUMI

Inc

..........................................

7,344

561‌

0.09%

MISUMI

Group

Inc

..............................................

11,303

615‌

0.10%

Mitsui

OSK

Lines

Ltd

.............................................

2,632

314‌

0.05%

MTU

Aero

Engines

AG

...........................................

327

325‌

0.05%

Nibe

Industrier

AB,

Class

B

........................................

126,974

2,444‌

0.38%

NIPPON

EXPRESS

HOLDINGS

INC

................................

13,785

2,750‌

0.43%

Northrop

Grumman

Corp

.........................................

3,442

6,453‌

1.01%

Old

Dominion

Freight

Line

Inc

.....................................

375

322‌

0.05%

Owens

Corning

.................................................

4,868

3,180‌

0.50%

Republic

Services

Inc,

Class

A

.....................................

442

332‌

0.05%

ROCKWOOL

A/S,

Class

B

........................................

1,018

1,311‌

0.21%

RTX

Corp

.....................................................

6,340

2,421‌

0.38%

Saab

AB,

Class

B

...............................................

3,601

1,256‌

0.20%

Skanska

AB,

Class

B

............................................

15,659

1,093‌

0.17%

SKF

AB,

Class

B

................................................

30,180

2,415‌

0.38%

TE

Connectivity

Ltd

..............................................

4,209

2,394‌

0.38%

Waste

Connections

Inc

...........................................

6,050

4,075‌

0.64%

Waste

Management

Inc

..........................................

497

414‌

0.06%

Xylem

Inc/NY

...................................................

2,973

1,505‌

0.24%

117,831‌

Technology

Applied

Materials

Inc

.............................................

3,579

2,891‌

0.45%

ASM

International

NV

............................................

286

685‌

0.11%

ASML

Holding

NV

...............................................

252

953‌

0.15%

Atlassian

Corp,

Class

A

...........................................

2,020

1,543‌

0.24%

BE

Semiconductor

Industries

NV

...................................

3,760

2,257‌

0.35%

BILL

Holdings

Inc

...............................................

11,099

2,987‌

0.47%

Broadridge

Financial

Solutions,

Inc.

.................................

4,835

3,879‌

0.61%

Constellation

Software

Inc/Can

.....................................

541

5,793‌

0.91%

Dynatrace

Inc

..................................................

7,948

1,446‌

0.23%

Electronic

Arts

Inc

...............................................

4,405

2,289‌

0.36%

Fair

Isaac

Corp

.................................................

218

1,065‌

0.17%

Fortinet

Inc

....................................................

1,224

327‌

0.05%

Jack

Henry

&

Associates

Inc

.......................................

617

420‌

0.07%

Lam

Research

Corp

.............................................

136

517‌

0.08%

Leidos

Holdings,

Inc.

.............................................

1,871

960‌

0.15%

Manhattan

Associates

Inc

.........................................

4,305

4,219‌

0.66%

Micron

Technology

Inc

...........................................

718

331‌

0.05%

Microsoft

Corp

..................................................

390

642‌

0.10%

Monolithic

Power

Systems,

Inc.

....................................

2,414

6,405‌

1.01%

MSCI,

Inc.,

Class

A

..............................................

584

1,282‌

0.20%

Nemetschek

SE

................................................

1,664

646‌

0.10%

Paycom

Software,

Inc.

...........................................

2,239

1,745‌

0.27%

QUALCOMM

Inc

................................................

5,895

3,908‌

0.61%

Samsara

Inc,

Class

A

............................................

12,153

1,799‌

0.28%

ServiceNow

Inc

.................................................

344

1,027‌

0.16%

Tokyo

Electron

Ltd

...............................................

630

640‌

0.10%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

23

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Technology

(continued)

UiPath

Inc,

Class

A

..............................................

44,191

$

3,923‌

0.62%

Zscaler,

Inc.

....................................................

848

639‌

0.10%

55,218‌

Utilities

AES

Corp.

(The)

................................................

77,922

5,472‌

0.86%

Canadian

Utilities

Ltd,

Class

A

.....................................

4,004

357‌

0.06%

CenterPoint

Energy

Inc

...........................................

2,969

331‌

0.05%

Centrica

PLC

...................................................

552,921

3,492‌

0.55%

NRG

Energy,

Inc.

...............................................

1,285

341‌

0.05%

RWE

AG

......................................................

5,646

751‌

0.12%

Sembcorp

Industries

Ltd

..........................................

94,908

1,487‌

0.23%

United

Utilities

Group

PLC

........................................

7,082

361‌

0.06%

Xcel

Energy

Inc

.................................................

1,574

331‌

0.05%

12,923‌

Total

.......................................................................

$

637,532‌

100.00%

*

The

following

table

shows

the

individual

positions

and

related

values

of

the

securities

within

the

Goldman

Sachs

Custom

Global

Short

Equity

Index

basket.

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

Basic

Materials

Agnico

Eagle

Mines

Ltd

..........................................

(5,601)

$

(2,109‌)

0.21%

Anglo

American

PLC

.............................................

(11,005)

(1,712‌)

0.17%

Antofagasta

PLC

................................................

(34,172)

(5,554‌)

0.54%

Barrick

Gold

Corp

...............................................

(52,739)

(5,540‌)

0.54%

Ecolab

Inc

.....................................................

(375)

(546‌)

0.05%

EMS-Chemie

Holding

AG

.........................................

(293)

(1,420‌)

0.14%

First

Quantum

Minerals

Ltd

........................................

(56,833)

(3,858‌)

0.38%

Freeport-McMoRan,

Inc.

..........................................

(2,884)

(855‌)

0.08%

Givaudan

SA

...................................................

(66)

(1,853‌)

0.18%

Ivanhoe

Mines

Ltd,

Class

A

........................................

(41,952)

(3,161‌)

0.31%

Kinross

Gold

Corp

...............................................

(18,178)

(704‌)

0.07%

Lundin

Mining

Corp

..............................................

(10,293)

(665‌)

0.06%

Mitsubishi

Chemical

Group

Corp

...................................

(145,322)

(5,571‌)

0.54%

Pan

American

Silver

Corp

.........................................

(12,246)

(1,166‌)

0.11%

Pilbara

Minerals

Ltd

.............................................

(204,323)

(3,221‌)

0.31%

South32

Ltd.

...................................................

(151,291)

(1,868‌)

0.18%

Westlake

Corp

..................................................

(658)

(635‌)

0.06%

(40,438‌)

Communications

Airbnb

Inc,

Class

A

..............................................

(2,450)

(2,550‌)

0.25%

Bollore

SE

.....................................................

(19,252)

(812‌)

0.08%

BT

Group

PLC,

Class

A

...........................................

(61,004)

(533‌)

0.05%

Delivery

Hero

SE,

144A

..........................................

(31,750)

(5,738‌)

0.56%

eBay

Inc

......................................................

(24,137)

(8,038‌)

0.78%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

24

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Communications

(continued)

GEN

Digital,

Inc.

................................................

(17,786)

$

(2,514‌)

0.25%

Grab

Holdings

Ltd.,

Class

A

.......................................

(27,492)

(545‌)

0.05%

Hikari

Tsushin

Inc

...............................................

(1,687)

(1,993‌)

0.19%

Liberty

Global

Ltd

...............................................

(27,812)

(3,095‌)

0.30%

Liberty

Media

Corp-Liberty

Formula

One,

Class

C

......................

(11,746)

(4,862‌)

0.47%

Liberty

Media

Corp-Liberty

SiriusXM

................................

(8,220)

(1,541‌)

0.15%

Netflix,

Inc.

.....................................................

(399)

(1,527‌)

0.15%

Okta

Inc

.......................................................

(5,063)

(3,342‌)

0.33%

Paramount

Global,

Class

B

........................................

(7,977)

(592‌)

0.06%

Pearson

PLC

...................................................

(53,747)

(4,464‌)

0.43%

Prosus

NV

.....................................................

(2,721)

(539‌)

0.05%

Rakuten

Group

Inc

..............................................

(277,234)

(9,896‌)

0.96%

Robinhood

Markets

Inc,

Class

A

....................................

(17,216)

(2,187‌)

0.21%

Sea

Ltd,

ADR

...................................................

(3,313)

(1,123‌)

0.11%

SEEK

Ltd

......................................................

(6,070)

(626‌)

0.06%

Snap

Inc,

Class

A

...............................................

(37,098)

(2,687‌)

0.26%

Softbank

Group

Corp.

............................................

(12,775)

(4,774‌)

0.47%

Swisscom

AG

..................................................

(2,093)

(8,082‌)

0.79%

Telecom

Italia

Spa/Milano

.........................................

(1,250,144)

(1,918‌)

0.19%

T-Mobile

US,

Inc.

................................................

(504)

(519‌)

0.05%

Trade

Desk

Inc/The,

Class

A

.......................................

(3,722)

(2,053‌)

0.20%

Vivendi

SE

.....................................................

(39,335)

(2,708‌)

0.26%

Walt

Disney

Co/The

.............................................

(695)

(536‌)

0.05%

Warner

Bros

Discovery

Inc

........................................

(191,066)

(10,524‌)

1.02%

Zillow

Group

Inc,

Class

C

.........................................

(17,667)

(5,437‌)

0.53%

(95,755‌)

Consumer,

Cyclical

Accor

SA

......................................................

(1,756)

(518‌)

0.05%

Air

Canada

....................................................

(5,839)

(534‌)

0.05%

Autozone,

Inc.

..................................................

(486)

(9,656‌)

0.94%

Caesars

Entertainment

Inc

........................................

(5,960)

(1,645‌)

0.16%

CarMax

Inc

....................................................

(18,836)

(10,353‌)

1.01%

Carnival

Corp.

..................................................

(7,804)

(804‌)

0.08%

Cie

Financiere

Richemont

SA,

Class

A

...............................

(557)

(537‌)

0.05%

Daiwa

House

Industry

Co

Ltd

......................................

(2,792)

(522‌)

0.05%

Dollar

General

Corp

.............................................

(9,186)

(9,045‌)

0.88%

Dr

Ing

hc

F

Porsche

AG,

Class

Preference,

144A

......................

(4,823)

(3,034‌)

0.30%

Ferguson

PLC

..................................................

(6,175)

(8,510‌)

0.83%

Lowe's

Cos

Inc

.................................................

(6,328)

(10,171‌)

0.99%

LVMH

Moet

Hennessy

Louis

Vuitt

...................................

(91)

(520‌)

0.05%

Moncler

SpA

...................................................

(1,118)

(527‌)

0.05%

Nitori

Holdings

Co

Ltd

............................................

(4,678)

(4,452‌)

0.43%

NVR,

Inc.

......................................................

(168)

(8,567‌)

0.83%

Reece

Ltd

.....................................................

(10,465)

(1,210‌)

0.12%

Renault

SA

....................................................

(1,653)

(527‌)

0.05%

Restaurant

Brands

Internationa

....................................

(13,342)

(6,691‌)

0.65%

Rivian

Automotive

Inc,

Class

A

.....................................

(39,238)

(2,711‌)

0.26%

Royal

Caribbean

Cruises

Ltd

......................................

(1,379)

(1,209‌)

0.12%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

25

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Cyclical

(continued)

Sekisui

Chemical

Co.

Ltd.

.........................................

(16,862)

$

(1,552‌)

0.15%

Shimano

Inc

...................................................

(587)

(554‌)

0.05%

Suzuki

Motor

Corp

..............................................

(98,551)

(7,072‌)

0.69%

Swatch

Group

AG

(The)

..........................................

(3,712)

(5,444‌)

0.53%

Swatch

Group

AG/The

...........................................

(1,850)

(530‌)

0.05%

Volkswagen

AG

.................................................

(1,133)

(1,093‌)

0.11%

Volvo

Car

AB,

Class

B

............................................

(106,615)

(2,553‌)

0.25%

Walmart

Inc

....................................................

(3,385)

(1,285‌)

0.12%

Zalando

SE,

144A

...............................................

(27,713)

(5,004‌)

0.49%

(106,830‌)

Consumer,

Non-cyclical

Abbott

Laboratories

..............................................

(1,353)

(970‌)

0.10%

Aeon

Co

Ltd

...................................................

(26,446)

(3,952‌)

0.38%

Alcon

Inc

......................................................

(18,743)

(9,811‌)

0.95%

Alnylam

Pharmaceuticals

Inc

......................................

(3,287)

(3,100‌)

0.30%

Altria

Group,

Inc.

................................................

(4,148)

(1,142‌)

0.11%

Anheuser-Busch

InBev

SA/NV

.....................................

(26,862)

(10,337‌)

1.01%

Argenx

SE

.....................................................

(1,269)

(3,167‌)

0.31%

Avantor

Inc

....................................................

(18,942)

(3,056‌)

0.30%

Bachem

Holding

AG,

Class

B

......................................

(2,179)

(1,319‌)

0.13%

Bayer

AG

......................................................

(44,127)

(8,551‌)

0.83%

Becton

Dickinson

&

Co

...........................................

(1,475)

(2,303‌)

0.22%

Biogen,

Inc.

....................................................

(1,393)

(1,895‌)

0.18%

Block,

Inc.

.....................................................

(992)

(530‌)

0.05%

Bureau

Veritas

SA

...............................................

(3,795)

(732‌)

0.07%

Campbell

Soup

Co.

..............................................

(16,885)

(4,736‌)

0.46%

Carl

Zeiss

Meditec

AG

...........................................

(1,715)

(1,354‌)

0.13%

Celsius

Holdings

Inc

.............................................

(4,552)

(2,382‌)

0.23%

Charles

River

Laboratories

International

Inc

..........................

(6,086)

(10,404‌)

1.01%

Chocoladefabriken

Lindt

&

Spruengli

AG

.............................

(25)

(1,886‌)

0.18%

Church

&

Dwight

Co

Inc

..........................................

(3,663)

(2,411‌)

0.24%

Cooper

Cos.,

Inc.

(The)

...........................................

(1,311)

(839‌)

0.08%

Corpay

Inc

.....................................................

(1,945)

(3,786‌)

0.37%

CoStar

Group

Inc

...............................................

(16,513)

(10,065‌)

0.98%

Danaher

Corp.

..................................................

(3,916)

(6,169‌)

0.60%

Davide

Campari-Milano

NV

.......................................

(73,700)

(4,679‌)

0.46%

DiaSorin

SpA

...................................................

(3,606)

(2,200‌)

0.21%

Edwards

Lifesciences

Corp.

.......................................

(878)

(529‌)

0.05%

Eisai

Co

Ltd

....................................................

(37,879)

(9,842‌)

0.96%

Endeavour

Group

Ltd/Australia

.....................................

(95,670)

(2,170‌)

0.21%

Essilorluxottica

SA

...............................................

(2,388)

(3,413‌)

0.33%

Exact

Sciences

Corp

.............................................

(10,649)

(4,640‌)

0.45%

Fresenius

Medical

Care

AG

.......................................

(2,141)

(520‌)

0.05%

Fresenius

SE

&

Co

KGaA

.........................................

(28,733)

(4,896‌)

0.48%

FUJIFILM

Holdings

Corp

..........................................

(38,462)

(5,434‌)

0.53%

Grifols

SA

.....................................................

(35,683)

(2,028‌)

0.20%

Haleon

PLC

....................................................

(240,059)

(6,374‌)

0.62%

HCA

Healthcare

Inc

..............................................

(251)

(529‌)

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

26

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Consumer,

Non-cyclical

(continued)

Heineken

Holding

NV

............................................

(2,398)

$

(1,223‌)

0.12%

Hikma

Pharmaceuticals

PLC

......................................

(15,752)

(2,409‌)

0.23%

Hormel

Foods

Corp

..............................................

(47,236)

(10,398‌)

1.01%

Illumina

Inc

....................................................

(2,162)

(1,873‌)

0.18%

Ipsen

SA

......................................................

(1,770)

(1,330‌)

0.13%

IQVIA

Holdings,

Inc.

.............................................

(457)

(730‌)

0.07%

Keurig

Dr

Pepper

Inc

.............................................

(53,022)

(10,260‌)

1.00%

Kraft

Heinz

Co/The

..............................................

(11,859)

(2,761‌)

0.27%

Kyowa

Kirin

Co.

Ltd.

.............................................

(6,016)

(681‌)

0.07%

L'Oreal

SA

.....................................................

(172)

(515‌)

0.05%

McCormick

&

Co

Inc/MD

..........................................

(1,999)

(969‌)

0.09%

Merck

KGaA

...................................................

(6,951)

(7,750‌)

0.75%

Moderna

Inc

...................................................

(9,032)

(6,072‌)

0.59%

Molson

Coors

Beverage

Co,

Class

B

................................

(18,684)

(7,928‌)

0.77%

Mondelez

International

Inc,

Class

A

.................................

(2,225)

(982‌)

0.10%

Novartis

AG

....................................................

(850)

(520‌)

0.05%

Ocado

Group

PLC

...............................................

(59,125)

(2,145‌)

0.21%

Otsuka

Holdings

Co

Ltd

..........................................

(28,609)

(7,481‌)

0.73%

Pernod

Ricard

SA

...............................................

(4,397)

(4,494‌)

0.44%

Procter

&

Gamble

Co.

(The)

.......................................

(2,178)

(2,229‌)

0.22%

RB

Global

Inc

..................................................

(3,271)

(1,573‌)

0.15%

Recordati

Industria

Chimica

e

......................................

(2,140)

(747‌)

0.07%

Remy

Cointreau

SA

..............................................

(2,342)

(1,492‌)

0.15%

Rentokil

Initial

PLC

..............................................

(25,441)

(956‌)

0.09%

Repligen

Corp

..................................................

(2,294)

(2,662‌)

0.26%

Revvity

Inc

.....................................................

(2,694)

(1,784‌)

0.17%

Roche

Holding

AG

...............................................

(360)

(613‌)

0.06%

Royalty

Pharma

PLC,

Class

A

.....................................

(2,733)

(524‌)

0.05%

Sartorius

Stedim

Biotech

..........................................

(1,157)

(2,085‌)

0.20%

Seven

&

i

Holdings

Co

Ltd

........................................

(5,930)

(544‌)

0.05%

Shionogi

&

Co.

Ltd.

..............................................

(15,567)

(5,020‌)

0.49%

STERIS

PLC

...................................................

(3,789)

(5,374‌)

0.52%

Takeda

Pharmaceutical

Co

Ltd

.....................................

(51,263)

(8,984‌)

0.87%

Teleflex

Inc

....................................................

(1,406)

(2,007‌)

0.20%

Terumo

Corp

...................................................

(12,487)

(1,437‌)

0.14%

Toast

Inc,

Class

A

...............................................

(57,517)

(9,043‌)

0.88%

TransUnion

....................................................

(20,594)

(10,369‌)

1.01%

Transurban

Group

...............................................

(10,915)

(598‌)

0.06%

UCB

SA

.......................................................

(7,263)

(5,663‌)

0.55%

U-Haul

Holding

Co,

Class

B

.......................................

(2,514)

(1,058‌)

0.10%

Viatris

Inc

......................................................

(17,956)

(1,353‌)

0.13%

Waters

Corp

...................................................

(368)

(799‌)

0.08%

Wise

PLC,

Class

A

..............................................

(26,297)

(1,946‌)

0.19%

Worldline

SA/France,

144A

........................................

(6,761)

(529‌)

0.05%

(282,061‌)

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

27

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Energy

AltaGas

Ltd,

Class

Common

Subs.

Receipt

...........................

(3,801)

$

(530‌)

0.05%

Cenovus

Energy

Inc

.............................................

(68,751)

(8,680‌)

0.84%

Chesapeake

Energy

Corp

.........................................

(3,893)

(2,182‌)

0.21%

Enbridge

Inc

...................................................

(23,315)

(5,321‌)

0.52%

EQT

Corp

.....................................................

(4,689)

(1,097‌)

0.11%

Exxon

Mobil

Corp

...............................................

(713)

(523‌)

0.05%

First

Solar

Inc

..................................................

(830)

(884‌)

0.09%

Galp

Energia

SGPS

SA

...........................................

(41,880)

(4,372‌)

0.42%

Kinder

Morgan

Inc

...............................................

(89,834)

(10,395‌)

1.01%

Occidental

Petroleum

Corp.

.......................................

(8,600)

(3,526‌)

0.34%

Phillips

66

.....................................................

(1,220)

(1,257‌)

0.12%

Santos

Ltd

.....................................................

(193,386)

(6,169‌)

0.60%

Teck

Resources

Ltd.,

Class

B

......................................

(24,824)

(7,175‌)

0.70%

Valero

Energy

Corp

..............................................

(7,810)

(8,411‌)

0.82%

Williams

Cos.,

Inc.

(The)

..........................................

(42,304)

(10,402‌)

1.01%

(70,924‌)

Financial

Admiral

Group

PLC

..............................................

(8,287)

(1,874‌)

0.18%

AIB

Group

PLC

.................................................

(16,837)

(540‌)

0.05%

AvalonBay

Communities,

Inc.

......................................

(8,880)

(10,397‌)

1.01%

Banco

Santander

SA

.............................................

(27,646)

(852‌)

0.08%

Banque

Cantonale

Vaudoise

......................................

(1,133)

(832‌)

0.08%

CaixaBank

SA

..................................................

(17,624)

(540‌)

0.05%

Charles

Schwab

Corp/The

........................................

(1,503)

(686‌)

0.07%

Citigroup

Inc

...................................................

(1,862)

(743‌)

0.07%

Coinbase

Global

Inc,

Class

A

......................................

(1,179)

(1,971‌)

0.19%

Commerzbank

AG

...............................................

(13,844)

(1,201‌)

0.12%

Commonwealth

Bank

of

Australia

...................................

(1,168)

(578‌)

0.06%

Concordia

Financial

Group

Ltd

.....................................

(37,715)

(1,194‌)

0.12%

Deutsche

Bank

AG

..............................................

(7,687)

(764‌)

0.08%

Equity

Residential

...............................................

(1,401)

(558‌)

0.05%

Essex

Property

Trust

Inc

..........................................

(6,746)

(10,420‌)

1.01%

Eurazeo

SE

....................................................

(2,678)

(1,483‌)

0.14%

Extra

Space

Storage

Inc

..........................................

(11,486)

(10,653‌)

1.04%

Gaming

and

Leisure

Properties

....................................

(15,455)

(4,492‌)

0.44%

Hang

Seng

Bank

Ltd

.............................................

(38,649)

(2,669‌)

0.26%

Helvetia

Holding

AG

.............................................

(1,575)

(1,371‌)

0.13%

Intercontinental

Exchange,

Inc.

.....................................

(3,490)

(3,026‌)

0.30%

Iron

Mountain

Inc

...............................................

(20,660)

(10,455‌)

1.02%

Japan

Post

Insurance

Co

Ltd

......................................

(18,664)

(2,249‌)

0.22%

KKR

&

Co

Inc,

Class

Miscellaneous

.................................

(838)

(532‌)

0.05%

Klepierre

SA

...................................................

(3,192)

(522‌)

0.05%

Leg

Immobilien

Se

..............................................

(4,113)

(2,231‌)

0.22%

Mediobanca

Banca

di

Credito

Finanziario

SpA

........................

(64,823)

(6,102‌)

0.59%

MS&AD

Insurance

Group

Holdings,

Inc.

.............................

(41,499)

(4,611‌)

0.45%

National

Bank

of

Canada

.........................................

(2,967)

(1,578‌)

0.15%

ProLogis,

Inc.

..................................................

(1,245)

(1,023‌)

0.10%

Realty

Income

Corp

.............................................

(1,580)

(539‌)

0.05%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

28

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Financial

(continued)

SBI

Holdings

Inc

................................................

(5,062)

$

(835‌)

0.08%

Sumitomo

Realty

&

Development

Co

Ltd

.............................

(8,004)

(1,874‌)

0.18%

Swiss

Prime

Site

AG

.............................................

(1,893)

(1,128‌)

0.11%

Swiss

Re

AG

...................................................

(7,769)

(6,309‌)

0.61%

T

Rowe

Price

Group

Inc

..........................................

(13,511)

(10,393‌)

1.01%

Talanx

AG

.....................................................

(3,031)

(1,517‌)

0.15%

UBS

Group

AG

.................................................

(3,949)

(767‌)

0.08%

Vicinity

Ltd

.....................................................

(227,941)

(1,999‌)

0.20%

Vonovia

SE

....................................................

(42,027)

(7,849‌)

0.76%

Warehouses

De

Pauw

CVA

.......................................

(3,079)

(555‌)

0.05%

Washington

H

Soul

Pattinson

&

Co

Ltd

..............................

(3,689)

(510‌)

0.05%

Weyerhaeuser

Co,

Class

REIT

.....................................

(2,337)

(529‌)

0.05%

Wharf

Real

Estate

Investment

Co.

Ltd.

..............................

(101,928)

(2,091‌)

0.20%

WP

Carey

Inc

..................................................

(13,184)

(4,695‌)

0.46%

(127,737‌)

Industrial

Acciona

SA

....................................................

(3,005)

(2,311‌)

0.22%

ACS

Actividades

de

Construccion

y

Servicios

SA

......................

(13,614)

(3,598‌)

0.35%

Aeroports

de

Paris

SA

............................................

(1,925)

(1,667‌)

0.16%

Alstom

SA

.....................................................

(45,542)

(4,386‌)

0.43%

Axon

Enterprise

Inc

..............................................

(5,123)

(10,113‌)

0.98%

Ball

Corp

......................................................

(24,300)

(10,328‌)

1.00%

Bouygues

SA

...................................................

(5,452)

(1,406‌)

0.14%

Brother

Industries

Ltd

............................................

(12,912)

(1,507‌)

0.15%

CAE

Inc

.......................................................

(4,005)

(522‌)

0.05%

Canadian

Pacific

Kansas

City

Ltd.

..................................

(1,925)

(1,072‌)

0.10%

Cellnex

Telecom

SA,

144A

........................................

(27,252)

(6,087‌)

0.59%

Central

Japan

Railway

Co.

........................................

(13,980)

(2,187‌)

0.21%

CK

Infrastructure

Holdings

Ltd

.....................................

(14,948)

(552‌)

0.05%

Getlink

SE

.....................................................

(4,736)

(509‌)

0.05%

GFL

Environmental

Inc

...........................................

(4,750)

(1,034‌)

0.10%

Hankyu

Hanshin

Holdings

Inc

......................................

(9,871)

(1,783‌)

0.17%

Heidelberg

Materials

AG

..........................................

(6,753)

(4,692‌)

0.46%

Knorr-Bremse

AG

...............................................

(1,196)

(571‌)

0.06%

Kuehne

+

Nagel

International

A

....................................

(2,294)

(4,032‌)

0.39%

Leonardo

SpA

..................................................

(4,845)

(769‌)

0.07%

Martin

Marietta

Materials,

Inc.

......................................

(2,672)

(10,349‌)

1.01%

Metso

Oyj

.....................................................

(34,660)

(2,600‌)

0.25%

Mitsubishi

Electric

Corp

...........................................

(12,040)

(1,266‌)

0.12%

Mitsubishi

Heavy

Industries

Lt

.....................................

(10,845)

(617‌)

0.06%

Obayashi

Corp.

.................................................

(27,706)

(2,072‌)

0.20%

Odakyu

Electric

Railway

Co

Ltd

....................................

(19,599)

(1,701‌)

0.17%

Prysmian

SpA

..................................................

(1,561)

(515‌)

0.05%

Sartorius

AG

...................................................

(1,154)

(2,900‌)

0.28%

Schindler

Holding

AG

............................................

(511)

(788‌)

0.08%

Siemens

Energy

AG

.............................................

(43,759)

(5,072‌)

0.49%

Sika

AG

.......................................................

(274)

(516‌)

0.05%

Teledyne

Technologies

Inc

........................................

(3,827)

(10,365‌)

1.01%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

29

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Industrial

(continued)

Tenaris

SA

.....................................................

(12,008)

$

(1,499‌)

0.15%

Tokyu

Corp

....................................................

(7,769)

(596‌)

0.06%

Toro

Co.

(The)

..................................................

(9,753)

(5,639‌)

0.55%

TransDigm

Group

Inc

............................................

(633)

(4,917‌)

0.48%

Trimble,

Inc.

....................................................

(4,934)

(2,004‌)

0.20%

West

Japan

Railway

Co

..........................................

(33,581)

(4,411‌)

0.43%

(116,953‌)

Technology

Advanced

Micro

Devices,

Inc.

......................................

(1,181)

(1,345‌)

0.13%

Advantest

Corp

.................................................

(6,946)

(1,939‌)

0.19%

ANSYS,

Inc.

...................................................

(4,651)

(10,188‌)

0.99%

Aspen

Technology

Inc

............................................

(773)

(1,040‌)

0.10%

Autodesk,

Inc.

..................................................

(4,225)

(6,941‌)

0.67%

Bentley

Systems

Inc,

Class

B

......................................

(26,010)

(8,570‌)

0.83%

Capcom

Co

Ltd

.................................................

(56,528)

(6,661‌)

0.65%

Capgemini

SE

..................................................

(1,038)

(1,510‌)

0.15%

Ceridian

Hcm

Holding,

Inc.

........................................

(6,881)

(2,875‌)

0.28%

CGI

Inc,

Class

A

................................................

(7,366)

(5,132‌)

0.50%

Fujitsu

Ltd

.....................................................

(4,990)

(503‌)

0.05%

Hewlett

Packard

Enterprise

Co

.....................................

(92,791)

(10,380‌)

1.01%

HP,

Inc.

.......................................................

(6,903)

(1,316‌)

0.13%

Infineon

Technologies

AG

.........................................

(19,037)

(4,089‌)

0.40%

Lasertec

Corp

..................................................

(1,877)

(3,360‌)

0.33%

Lattice

Semiconductor

Corp

.......................................

(1,068)

(527‌)

0.05%

Microchip

Technology

Inc

.........................................

(2,923)

(1,655‌)

0.16%

NEC

Corp

.....................................................

(7,686)

(3,530‌)

0.34%

Netapp,

Inc.

....................................................

(4,511)

(2,988‌)

0.29%

Nexon

Co

Ltd

..................................................

(7,427)

(777‌)

0.08%

NTT

Data

Group

Corp

............................................

(39,948)

(3,989‌)

0.39%

Oracle

Corp

....................................................

(10,514)

(8,332‌)

0.81%

Ricoh

Co

Ltd

...................................................

(53,981)

(3,020‌)

0.29%

ROBLOX

Corp,

Class

A

..........................................

(2,235)

(538‌)

0.05%

Seiko

Epson

Corp

...............................................

(34,133)

(3,750‌)

0.36%

Synopsys,

Inc.

..................................................

(2,765)

(9,971‌)

0.97%

Take-Two

Interactive

Software,Inc.

..................................

(11,061)

(10,363‌)

1.01%

Temenos

AG

...................................................

(4,451)

(2,010‌)

0.20%

Texas

Instruments,

Inc.

...........................................

(4,301)

(4,728‌)

0.46%

Unity

Software

Inc

...............................................

(4,956)

(835‌)

0.08%

Veeva

Systems,

Inc.,

Class

A

......................................

(357)

(522‌)

0.05%

Xero

Ltd

.......................................................

(10,924)

(5,995‌)

0.58%

Zebra

Technologies

Corp,

Class

A

..................................

(4,112)

(7,821‌)

0.76%

Zoom

Video

Communications,

Inc.,

Class

A

...........................

(5,171)

(2,133‌)

0.21%

(139,333‌)

Utilities

BKW

AG

......................................................

(544)

(528‌)

0.05%

Brookfield

Renewable

Corp,

Class

A

................................

(6,486)

(1,005‌)

0.10%

Chubu

Electric

Power

Co

Inc

......................................

(6,260)

(515‌)

0.05%

CLP

Holdings

Ltd

...............................................

(65,900)

(3,313‌)

0.32%

Simplify

Market

Neutral

Equity

Long/Short

ETF

Schedule

of

Investments

(Continued)

March

31,

2024

(Unaudited)

30

Shares

Unrealized

Appreciation/

(Depreciation)

%

of

basket

Common

Stocks

(continued)

Utilities

(continued)

Dominion

Energy

Inc

.............................................

(23,473)

$

(7,285‌)

0.71%

EDP

-

Energias

de

Portugal

SA

....................................

(106,037)

(2,609‌)

0.26%

EDP

Renovaveis

SA

.............................................

(23,223)

(1,986‌)

0.19%

Elia

Group

SA/NV

...............................................

(1,662)

(1,133‌)

0.11%

Endesa

SA

.....................................................

(9,100)

(1,065‌)

0.11%

Essential

Utilities

Inc

.............................................

(11,594)

(2,710‌)

0.26%

Hong

Kong

&

China

Gas

Co

Ltd

....................................

(346,652)

(1,657‌)

0.16%

Hydro

One

Ltd.,

144A

............................................

(2,907)

(535‌)

0.05%

Iberdrola

SA

....................................................

(11,614)

(910‌)

0.09%

Kansai

Electric

Power

Co

Inc/T

....................................

(83,951)

(7,523‌)

0.73%

Meridian

Energy

Ltd

.............................................

(25,795)

(575‌)

0.06%

Northland

Power

Inc

.............................................

(5,269)

(544‌)

0.05%

Osaka

Gas

Co

Ltd

...............................................

(4,179)

(592‌)

0.06%

PG&E

Corp.

....................................................

(8,019)

(848‌)

0.08%

Power

Assets

Holdings

Ltd

........................................

(19,107)

(706‌)

0.07%

Public

Service

Enterprise

Group

Inc

.................................

(1,289)

(543‌)

0.05%

Redeia

Corp

SA

................................................

(6,835)

(736‌)

0.07%

Southern

Co.

(The)

..............................................

(17,283)

(7,823‌)

0.76%

Terna

-

Rete

Elettrica

Naziona

.....................................

(11,948)

(624‌)

0.06%

Verbund

AG

....................................................

(4,265)

(1,969‌)

0.19%

Vistra

Corp

....................................................

(1,774)

(779‌)

0.08%

(48,513‌)

Total

.......................................................................

$

(1,028,544‌)

100.00%