Roundhill Generative AI & Technology ETF
Schedule of Investments
as of January 31, 2024 (Unaudited)
| COMMON STOCKS - 99.6% | Shares | Value | ||||||
| Commercial Services - 1.9% | ||||||||
| Appier Group, Inc.(a) | 119,620 | $ | 1,437,813 | |||||
| Computers - 6.9% | ||||||||
| International Business Machines Corp. | 12,528 | 2,300,892 | ||||||
| Quanta Computer, Inc. | 92,000 | 726,018 | ||||||
| Super Micro Computer, Inc.(a) | 4,348 | 2,302,744 | ||||||
| 5,329,654 | ||||||||
| Internet - 30.8%(b) | ||||||||
| 360 Security Technology, Inc. - Class A(a) | 612,770 | 582,936 | ||||||
| Alibaba Group Holding Ltd. | 257,523 | 2,291,180 | ||||||
| Alphabet, Inc. - Class A(a) | 30,079 | 4,214,067 | ||||||
| Amazon.com, Inc.(a) | 17,874 | 2,774,045 | ||||||
| Baidu, Inc. - Class A(a) | 228,686 | 2,966,358 | ||||||
| Kakao Corp.(a) | 46,510 | 1,829,525 | ||||||
| Meta Platforms, Inc. - Class A(a) | 9,693 | 3,781,627 | ||||||
| NAVER Corp. | 16,930 | 2,543,337 | ||||||
| Snap, Inc. - Class A(a) | 52,050 | 827,075 | ||||||
| Tencent Holdings Ltd. | 57,842 | 2,002,244 | ||||||
| 23,812,394 | ||||||||
| Semiconductors - 19.6% | ||||||||
| Advanced Micro Devices, Inc.(a) | 19,931 | 3,342,229 | ||||||
| Broadcom, Inc. | 769 | 907,420 | ||||||
| Intel Corp. | 22,095 | 951,853 | ||||||
| Marvell Technology, Inc. | 39,067 | 2,644,836 | ||||||
| NVIDIA Corp. | 10,551 | 6,491,714 | ||||||
| Taiwan Semiconductor Manufacturing Co. Ltd. | 38,460 | 771,670 | ||||||
| 15,109,722 | ||||||||
| Software - 36.0%(b) | ||||||||
| Adobe, Inc.(a) | 6,739 | 4,163,219 | ||||||
| Autodesk, Inc.(a) | 2,790 | 708,130 | ||||||
| Beijing Kingsoft Office Software, Inc. - Class A | 20,567 | 613,668 | ||||||
| C3.ai, Inc. - Class A(a) | 41,528 | 1,029,064 | ||||||
| Duolingo, Inc. – Class A(a) | 3,984 | 712,698 | ||||||
| Iflytek Co. Ltd. - Class A | 220,815 | 1,181,034 | ||||||
| Intuit, Inc. | 1,507 | 951,414 | ||||||
| Microsoft Corp. | 15,151 | 6,023,735 | ||||||
| MongoDB, Inc.(a) | 2,196 | 879,542 | ||||||
| Oracle Corp. | 15,815 | 1,766,536 | ||||||
| Palantir Technologies, Inc. - Class A(a) | 46,965 | 755,667 | ||||||
| PKSHA Technology, Inc.(a) | 24,800 | 661,673 | ||||||
| Salesforce, Inc.(a) | 11,679 | 3,282,850 | ||||||
| SenseTime Group, Inc. - Class B(a)(c) | 6,305,044 | 637,179 | ||||||
| ServiceNow, Inc.(a) | 2,429 | 1,859,157 | ||||||
| Snowflake, Inc. - Class A(a) | 8,483 | 1,659,614 | ||||||
| UiPath, Inc. - Class A(a) | 44,255 | 1,016,980 | ||||||
| 27,902,160 | ||||||||
| Telecommunications - 4.4% | ||||||||
| Arista Networks, Inc.(a) | 7,594 | 1,964,416 | ||||||
| Nice Ltd. - ADR(a) | 3,992 | 830,735 | ||||||
| Sakura Internet, Inc. | 24,960 | 618,130 | ||||||
| 3,413,281 | ||||||||
| TOTAL COMMON STOCKS (Cost $68,977,862) | 77,005,024 | |||||||
| SHORT-TERM INVESTMENTS - 0.4% | ||||||||
| Money Market Funds - 0.4% | ||||||||
| First American Government Obligations Fund - Class X, 5.25%(d) | 278,619 | 278,619 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $278,619) | 278,619 | |||||||
| TOTAL INVESTMENTS - 100.0% (Cost $69,256,481) | $ | 77,283,643 | ||||||
| Liabilities in Excess of Other Assets - 0.0%(e) | (35,642 | ) | ||||||
| TOTAL NET ASSETS - 100.0% | $ | 77,248,001 | ||||||
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
| (a) | Non-income producing security. | |
| (b) | To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors. | |
| (c) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of January 31, 2024, the value of these securities total $637,179 or 0.8% of the Fund’s net assets. | |
| (d) | The rate shown represents the 7-day effective yield as of January 31, 2024. | |
| (e) | Represents less than 0.05% of net assets. |
Summary of Fair Value Exposure at January 31, 2024 (Unaudited)
The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. • Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data.
• Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The following is a summary of the inputs used to value the Fund's investments as of January 31, 2024:
Roundhill Generative AI & Technology ETF
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Assets: | ||||||||||||||||
| Common Stocks | $ | 77,005,024 | $ | — | $ | — | $ | 77,005,024 | ||||||||
| Money Market Funds | 278,619 | — | — | 278,619 | ||||||||||||
| Total Assets | $ | 77,283,643 | $ | — | $ | — | $ | 77,283,643 | ||||||||
Refer to the Schedule of Investments for industry classifications.