(null)

NPORT-P false 0001633061 XXXXXXXX S000052601 C000165126 Amplify ETF Trust 811-23108 0001633061 5493006EMX6222CPWJ71 310 South Hale Street Wheaton 60187 855-267-3837 Amplify Online Retail ETF S000052601 549300BHTS5Z71BMK238 2022-10-31 2022-01-31 N 571375508.720000000000 81070499.370000000000 490305009.350000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 1420.960000000000 N Affirm Holdings Inc N/A Affirm Holdings Inc 00827B106 75441.000000000000 NS USD 4833504.870000000000 0.9858159264 Long EC CORP US N 1 N N N Airbnb Inc 549300HMUDNO0RY56D37 Airbnb Inc 009066101 70306.000000000000 NS USD 10825014.820000000000 2.2078124053 Long EC CORP US N 1 N N N Alibaba Group Holding Ltd 5493001NTNQJDH60PM02 Alibaba Group Holding Ltd 01609W102 31349.000000000000 NS USD 3943390.710000000000 0.8042729800 Long EC CORP CN N 1 N N N Amazon.com Inc ZXTILKJKG63JELOEG630 Amazon.com Inc 023135106 3606.000000000000 NS USD 10787240.820000000000 2.2001082213 Long EC CORP US N 1 N N N BigCommerce Holdings Inc 549300MOVEFQ78DMPG58 BigCommerce Holdings Inc 08975P108 269431.000000000000 NS USD 8807699.390000000000 1.7963714876 Long EC CORP US N 1 N N N Booking Holdings Inc FXM8FAOHMYDIPD38UZ17 Booking Holdings Inc 09857L108 4998.000000000000 NS USD 12275737.740000000000 2.5036941304 Long EC CORP US N 1 N N N CarParts.com Inc 5493005FSRX4Y7E7H678 CarParts.com Inc 14427M107 812244.000000000000 NS USD 7472644.800000000000 1.5240808594 Long EC CORP US N 1 N N N Carvana Co 5493003WEAK2PJ5WS063 Carvana Co 146869102 40315.000000000000 NS USD 6533448.900000000000 1.3325274626 Long EC CORP US N 1 N N N Chegg Inc 549300AKX7O8JG0O3G77 Chegg Inc 163092109 356554.000000000000 NS USD 9437984.380000000000 1.9249210593 Long EC CORP US N 1 N N N Chewy Inc N/A Chewy Inc 16679L109 166100.000000000000 NS USD 7908021.000000000000 1.6128778718 Long EC CORP US N 1 N N ContextLogic Inc 549300YZDCRQ367LIE74 ContextLogic Inc 21077C107 2332221.000000000000 NS USD 6180385.650000000000 1.2605185613 Long EC CORP US N 1 N N Copart Inc 549300KVYX3JWMYEHU61 Copart Inc 217204106 78024.000000000000 NS USD 10084602.000000000000 2.0568017474 Long EC CORP US N 1 N N N Coupang Inc 549300XR4L1D80AK4W76 Coupang Inc 22266T109 171317.000000000000 NS USD 3566819.940000000000 0.7274696101 Long EC CORP KR N 1 N N DiDi Global Inc N/A DiDi Global Inc 23292E108 622925.000000000000 NS USD 2248759.250000000000 0.4586449673 Long EC CORP CN N 1 N N Dada Nexus Ltd 655600D3KK4AC093RT71 Dada Nexus Ltd 23344D108 248106.000000000000 NS USD 2709317.520000000000 0.5525779807 Long EC CORP CN N 1 N N N DingDong Cayman Ltd N/A DingDong Cayman Ltd 25445D101 168537.000000000000 NS USD 844370.370000000000 0.1722132864 Long EC CORP CN N 1 N N DoorDash Inc N/A DoorDash Inc 25809K105 58995.000000000000 NS USD 6695342.550000000000 1.3655464297 Long EC CORP US N 1 N N N eBay Inc OML71K8X303XQONU6T67 eBay Inc 278642103 161065.000000000000 NS USD 9675174.550000000000 1.9732971039 Long EC CORP US N 1 N N N Etsy Inc 54930089Q7XT501AEA40 Etsy Inc 29786A106 50710.000000000000 NS USD 7965526.800000000000 1.6246064487 Long EC CORP US N 1 N N N Expedia Group Inc N/A Expedia Group Inc 30212P303 74891.000000000000 NS USD 13726771.390000000000 2.7996392303 Long EC CORP US N 1 N N N Figs Inc N/A Figs Inc 30260D103 287467.000000000000 NS USD 6462258.160000000000 1.3180077782 Long EC CORP US N 1 N N Farfetch Ltd 549300QFQ74Z0F96NS78 Farfetch Ltd 30744W107 133003.000000000000 NS USD 2887495.130000000000 0.5889181377 Long EC CORP GB N 1 N N N ASOS PLC 213800H8DBB8JSKDW630 ASOS PLC G0536Q108 151004.000000000000 NS 4494275.460000000000 0.9166285015 Long EC CORP GB N 1 N N N First American Government Obli 549300R5MYM6VZF1RM44 First American Government Obligations Fund 31846V336 80770843.020000000000 NS USD 80770843.020000000000 16.4735912299 Long STIV RF US N 1 N N Groupon Inc 5299005W5W1R5POQJL03 Groupon Inc 399473206 517066.000000000000 NS USD 15791195.640000000000 3.2206882122 Long EC CORP US N 1 N N N IAC/InterActiveCorp 549300TO56L57RP6P031 IAC/InterActiveCorp 44891N208 79254.000000000000 NS USD 10821341.160000000000 2.2070631451 Long EC CORP US N 1 N N N iQIYI Inc 222100XL8T2Q5B8MS302 iQIYI Inc 46267X108 612668.000000000000 NS USD 2499685.440000000000 0.5098225375 Long EC CORP CN N 1 N N JD.com Inc 549300HVTWB0GJZ16V92 JD.com Inc 47215P106 64015.000000000000 NS USD 4793443.200000000000 0.9776451614 Long EC CORP CN N 1 N N N Jumia Technologies AG 391200JWCL5VCOSXNT56 Jumia Technologies AG 48138M105 272098.000000000000 NS USD 2380857.500000000000 0.4855870233 Long EC CORP DE N 1 N N KE Holdings Inc 254900RHVY072XPAZE03 KE Holdings Inc 482497104 274825.000000000000 NS USD 5988436.750000000000 1.2213696854 Long EC CORP CN N 1 N N N Lands' End Inc 54930016WOL7P2P67Q43 Lands' End Inc 51509F105 452549.000000000000 NS USD 8295223.170000000000 1.6918495654 Long EC CORP US N 1 N N N Liquidity Services Inc 5299002AZ4ULSAXN0G81 Liquidity Services Inc 53635B107 553575.000000000000 NS USD 10534532.250000000000 2.1485671264 Long EC CORP US N 1 N N N Lyft Inc 549300H7I5VN334XVZ52 Lyft Inc 55087P104 247833.000000000000 NS USD 9546527.160000000000 1.9470588670 Long EC CORP US N 1 N N N MYT Netherlands Parent BV N/A MYT Netherlands Parent BV 55406W103 191102.000000000000 NS USD 3273577.260000000000 0.6676613939 Long EC CORP DE N 1 N N MercadoLibre Inc 549300DKPDN9M5S8GB14 MercadoLibre Inc 58733R102 3402.000000000000 NS USD 3851268.120000000000 0.7854841469 Long EC CORP AR N 1 N N N Rakuten Group Inc 529900IMXUCQKUL1H943 Rakuten Group Inc J64264104 470900.000000000000 NS 4055108.620000000000 0.8270583703 Long EC CORP JP N 1 N N N ASKUL Corp N/A ASKUL Corp J03325107 388000.000000000000 NS 4699965.240000000000 0.9585798942 Long EC CORP JP N 1 N N N Netflix Inc 549300Y7VHGU0I7CE873 Netflix Inc 64110L106 17673.000000000000 NS USD 7548845.220000000000 1.5396222914 Long EC CORP US N 1 N N N 1-800-Flowers.com Inc N/A 1-800-Flowers.com Inc 68243Q106 356978.000000000000 NS USD 6079335.340000000000 1.2399088780 Long EC CORP US N 1 N N N BARK Inc N/A BARK Inc 68622E104 1687659.000000000000 NS USD 6362474.430000000000 1.2976564197 Long EC CORP US N 1 N N Overstock.com Inc 549300ACR0DL9U7EI710 Overstock.com Inc 690370101 115965.000000000000 NS USD 5559362.100000000000 1.1338579035 Long EC CORP US N 1 N N N Ozon Holdings PLC 213800GXSI7E5V776B13 Ozon Holdings PLC 69269L104 116534.000000000000 NS USD 2408757.780000000000 0.4912774159 Long EC CORP RU N 1 N N PayPal Holdings Inc 5493005X2GO78EFZ3E94 PayPal Holdings Inc 70450Y103 52760.000000000000 NS USD 9071554.400000000000 1.8501859510 Long EC CORP US N 1 N N N Peloton Interactive Inc 5493002YS021166W0339 Peloton Interactive Inc 70614W100 135176.000000000000 NS USD 3694360.080000000000 0.7534820182 Long EC CORP US N 1 N N N PetMed Express Inc 529900PGHW5ASJ1AZL48 PetMed Express Inc 716382106 379736.000000000000 NS USD 9808580.880000000000 2.0005059489 Long EC CORP US N 1 N N Pinduoduo Inc 5493000573DS7005T657 Pinduoduo Inc 722304102 56378.000000000000 NS USD 3373659.520000000000 0.6880736390 Long EC CORP CN N 1 N N N Poshmark Inc N/A Poshmark Inc 73739W104 505243.000000000000 NS USD 7987891.830000000000 1.6291679011 Long EC CORP US N 1 N N N Purple Innovation Inc N/A Purple Innovation Inc 74640Y106 613081.000000000000 NS USD 5100833.920000000000 1.0403389365 Long EC CORP US N 1 N N N Qurate Retail Inc 549300PSXEKU4PHLCR04 Qurate Retail Inc 74915M100 1227627.000000000000 NS USD 8630217.810000000000 1.7601732892 Long EC CORP US N 1 N N N Rent the Runway Inc N/A Rent the Runway Inc 76010Y103 765676.000000000000 NS USD 4417950.520000000000 0.9010616730 Long EC CORP US N 1 N N Revolve Group Inc N/A Revolve Group Inc 76156B107 159901.000000000000 NS USD 7886317.320000000000 1.6084513047 Long EC CORP US N 1 N N N Sea Ltd 529900OM6JLLW44YKI15 Sea Ltd 81141R100 14731.000000000000 NS USD 2214216.610000000000 0.4515998343 Long EC CORP SG N 1 N N N Shopify Inc 549300HGQ43STJLLP808 Shopify Inc 82509L107 3502.000000000000 NS USD 3376768.480000000000 0.6887077259 Long EC CORP CA N 1 N N N Invesco Government & Agency Po 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio 825252885 1465351.950000000000 NS USD 1465351.950000000000 0.2988653842 Long STIV RF US N 1 N N N Shutterstock Inc 529900G2TDIS56V0LO22 Shutterstock Inc 825690100 101441.000000000000 NS USD 9836733.770000000000 2.0062478625 Long EC CORP US N 1 N N N Solo Brands Inc N/A Solo Brands Inc 83425V104 664004.000000000000 NS USD 7410284.640000000000 1.5113622130 Long EC CORP US N 1 N N Stitch Fix Inc 549300TNHOVBOJZIYE72 Stitch Fix Inc 860897107 348166.000000000000 NS USD 5720367.380000000000 1.1666956835 Long EC CORP US N 1 N N N RealReal Inc/The 549300O00VUGT4H1PE90 RealReal Inc/The 88339P101 956030.000000000000 NS USD 9034483.500000000000 1.8426251675 Long EC CORP US N 1 N N N ThredUp Inc N/A ThredUp Inc 88556E102 592735.000000000000 NS USD 5494653.450000000000 1.1206602717 Long EC CORP US N 1 N N Trip.com Group Ltd 2549004RMYDSRQL4KW41 Trip.com Group Ltd 89677Q107 181970.000000000000 NS USD 4842221.700000000000 0.9875937646 Long EC CORP CN N 1 N N N TripAdvisor Inc 549300XVG45PT5BART17 TripAdvisor Inc 896945201 370115.000000000000 NS USD 10048622.250000000000 2.0494635091 Long EC CORP US N 1 N N N Uber Technologies Inc 549300B2FTG34FILDR98 Uber Technologies Inc 90353T100 265775.000000000000 NS USD 9939985.000000000000 2.0273064338 Long EC CORP US N 1 N N N Upwork Inc 5493004QJ6WWBXVE2S70 Upwork Inc 91688F104 248397.000000000000 NS USD 6756398.400000000000 1.3779990559 Long EC CORP US N 1 N N N Vipshop Holdings Ltd 549300I9F52K06HPZX60 Vipshop Holdings Ltd 92763W103 452048.000000000000 NS USD 4208566.880000000000 0.8583569002 Long EC CORP CN N 1 N N N Vivid Seats Inc N/A Vivid Seats Inc 92854T100 909511.000000000000 NS USD 8094647.900000000000 1.6509413010 Long EC CORP US N 1 N N Vroom Inc N/A Vroom Inc 92918V109 611225.000000000000 NS USD 4902024.500000000000 0.9997908254 Long EC CORP US N 1 N N Wayfair Inc 54930027N9ZAVYFDHK53 Wayfair Inc 94419L101 45201.000000000000 NS USD 7047739.920000000000 1.4374195216 Long EC CORP US N 1 N N ZOZO Inc 549300GC7XPQMZA0OW13 ZOZO Inc J9893A108 166600.000000000000 NS 4386496.350000000000 0.8946464479 Long EC CORP JP N 1 N N N Ocado Group PLC 213800LO8F61YB8MBC74 Ocado Group PLC G6718L106 217813.000000000000 NS 4405766.280000000000 0.8985766403 Long EC CORP GB N 1 N N N About You Holding SE 894500DKEE3GY8870322 About You Holding SE N/A 225401.000000000000 NS 4380799.560000000000 0.8934845609 Long EC CORP DE N 1 N N Zalando SE 529900YRFFGH5AXU4S86 Zalando SE D98423102 59555.000000000000 NS 4682131.510000000000 0.9549426216 Long EC CORP DE N 1 N N N Just Eat Takeaway.com NV 724500FVZIBSSQ7SHI95 Just Eat Takeaway.com NV N4753E105 72939.000000000000 NS 3561647.460000000000 0.7264146586 Long EC CORP NL N 1 N N N HelloFresh SE 391200ZAF4V6XD2M9G57 HelloFresh SE D3R2MA100 51137.000000000000 NS 3363097.090000000000 0.6859193820 Long EC CORP DE N 1 N N N Temple & Webster Group Ltd 549300BZZ48T6HQ11E08 Temple & Webster Group Ltd Q8948V101 572585.000000000000 NS 3433089.020000000000 0.7001945635 Long EC CORP AU N 1 N N N Delivery Hero SE 529900C3EX1FZGE48X78 Delivery Hero SE D1T0KZ103 41540.000000000000 NS 3169681.390000000000 0.6464713453 Long EC CORP DE N 1 N N N Cimpress PLC 549300X1IFD75XISOR81 Cimpress PLC G2143T103 56393.000000000000 NS USD 3790737.460000000000 0.7731386357 Long EC CORP IE N 1 N N N Newegg Commerce Inc N/A Newegg Commerce Inc G6483G100 950063.000000000000 NS USD 6422425.880000000000 1.3098837984 Long EC CORP US N 1 N N Spotify Technology SA 549300B4X0JHWV0DTD60 Spotify Technology SA L8681T102 17479.000000000000 NS USD 3430428.540000000000 0.6996519462 Long EC CORP SE N 1 N N N Fiverr International Ltd 549300Z8OREY6THCPF67 Fiverr International Ltd M4R82T106 31546.000000000000 NS USD 2691189.260000000000 0.5488806373 Long EC CORP IL N 1 N N N Global-e Online Ltd N/A Global-e Online Ltd M5216V106 88670.000000000000 NS USD 3166405.700000000000 0.6458032530 Long EC CORP IL N 1 N N N MakeMyTrip Ltd 529900DNT8HNJ7RYUO60 MakeMyTrip Ltd V5633W109 159012.000000000000 NS USD 4244030.280000000000 0.8655898266 Long EC CORP IN N 1 N N N 2022-02-24 Amplify ETF Trust /s/ Bradley H. Bailey Amplify ETF Trust Principal Financial Officer XXXX

Amplify Online Retail ETF
Schedule of Investments
January 31, 2022 (Unaudited)

Description	Shares		Value

COMMON STOCKS - 99.7%
Marketplace - 38.8%
Affirm Holdings, Inc. (a)		74,281	$	4,759,184
Alibaba Group Holding Ltd. - ADR (a)		30,869		3,883,012
BigCommerce Holdings, Inc. (a)		265,287		8,672,232
ContextLogic, Inc. - Class A (a) (b)		2,296,341		6,085,304
Copart, Inc. (a)		76,824		9,929,502
Coupang, Inc. (a) (b)		168,683		3,511,980
Dada Nexus Ltd. - ADR (a)		244,290		2,667,647
Delivery Hero SE (a) (c)		40,902		3,120,999
DiDi Global, Inc. - ADR (a) (b)		613,343		2,214,168
DingDong Cayman Ltd. - ADR (a) (b)		165,945		831,384
DoorDash, Inc. - Class A (a)		58,089		6,592,521
Etsy, Inc. (a)		49,930		7,843,004
Fiverr International Ltd. (a)		31,062		2,649,899
Global-e Online Ltd. (a)		87,306		3,117,697
Groupon, Inc. (a)		509,112		15,548,280
Jumia Technologies AG - ADR (a) (b)		267,914		2,344,247
Just Eat Takeaway.com NV (a) (c)		71,819		3,506,957
KE Holdings, Inc. - ADR (a)		270,599		5,896,352
Liquidity Services, Inc. (a)		545,059		10,372,473
Lyft, Inc. - Class A (a)		244,021		9,399,689
MercadoLibre, Inc. (a)		3,350		3,792,401
Ozon Holdings PLC - ADR (a) (b)		114,742		2,371,717
PayPal Holdings, Inc. (a)		51,950		8,932,283
Pinduoduo, Inc. - ADR (a)		55,512		3,321,838
Poshmark, Inc. - Class A (a)		497,471		7,865,017
Rakuten Group, Inc. (a)		463,700		3,993,107
Sea Ltd. - ADR (a)		14,505		2,180,247
Shopify, Inc. - Class A (a)		3,450		3,326,628
The RealReal, Inc. (a)		941,324		8,895,512
ThredUp, Inc. - Class A (a) (b)		583,617		5,410,130
Uber Technologies, Inc. (a)		261,687		9,787,094
Upwork, Inc. (a)		244,577		6,652,494
Vivid Seats, Inc. - Class A (b)		895,519		7,970,119
				187,445,118
Traditional Retail - 49.5%
1-800-Flowers.com, Inc. - Class A (a)		351,488		5,985,841
About You Holding SE (a) (b)		221,935		4,313,436
Amazon.com, Inc. (a)		3,552		10,625,701
ASKUL Corp.		382,000		4,627,285
ASOS PLC (a)		148,682		4,425,167
BARK, Inc. (a) (b)		1,661,697		6,264,598
CarParts.com, Inc. (a)		799,750		7,357,700
Carvana Co. (a)		39,695		6,432,972
Chegg, Inc. (a)		351,070		9,292,823
Chewy, Inc. - Class A (a) (b)		163,546		7,786,425
Cimpress PLC (a)		55,527		3,732,525
eBay, Inc.		158,589		9,526,441
Farfetch Ltd. - Class A (a)		130,959		2,843,120
Figs, Inc. - Class A (a) (b)		283,045		6,362,852
HelloFresh SE (a)		50,351		3,311,405
IAC/InterActiveCorp (a)		78,036		10,655,035
iQIYI, Inc. - ADR (a) (b)		603,244		2,461,236
JD.com, Inc. - ADR (a)		63,031		4,719,761
Lands' End, Inc. (a)		445,587		8,167,610
MYT Netherlands Parent BV - ADR (a) (b)		188,162		3,223,215
Netflix, Inc. (a)		17,403		7,433,517
Newegg Commerce, Inc. (a) (b)		935,449		6,323,635
Ocado Group PLC (a)		214,463		4,338,005
Overstock.com, Inc. (a)		114,183		5,473,933
Peloton Interactive, Inc. - Class A (a)		133,098		3,637,568
PetMed Express, Inc. (b)		373,896		9,657,734
Purple Innovation, Inc. (a)		603,651		5,022,376
Qurate Retail, Inc. - Class A		1,208,741		8,497,449
Rent the Runway, Inc. - Class A (a) (b)		753,898		4,349,992
Revolve Group, Inc. (a)		157,443		7,765,089
Shutterstock, Inc.		99,881		9,685,461
Solo Brands, Inc. - Class A (a) (b)		653,790		7,296,296
Spotify Technology SA (a)		17,211		3,377,831
Stitch Fix, Inc. - Class A (a)		342,810		5,632,368
Temple & Webster Group Ltd. (a)		563,777		3,380,278
Vipshop Holdings Ltd. - ADR (a)		445,094		4,143,825
Vroom, Inc. (a) (b)		601,823		4,826,620
Wayfair, Inc. - Class A (a) (b)		44,507		6,939,531
Zalando SE (a) (c)		58,641		4,610,274
ZOZO, Inc.		164,000		4,318,040
				238,824,970
Travel - 11.4%
Airbnb, Inc. - Class A (a)		69,226		10,658,727
Booking Holdings, Inc. (a)		4,922		12,089,072
Expedia Group, Inc. (a)		73,739		13,515,621
MakeMyTrip Ltd. (a)		156,566		4,178,747
Trip.com Group Ltd. - ADR (a)		179,172		4,767,767
TripAdvisor, Inc. (a)		364,421		9,894,030
				55,103,964
Total Common Stocks (Cost $719,186,527)				481,374,052

MONEY MARKET FUNDS - 0.3%
Invesco Government & Agency Portfolio - Institutional Class - 0.03% (b)		1,465,352		1,465,352
Total Money Market Funds (Cost $1,465,352)				1,465,352

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 16.7%
First American Government Obligations Fund - Class X - 0.03% (d)		80,770,843		80,770,843
Total Investments Purchased with Proceeds from Securities Lending (Cost $80,770,843)				80,770,843
Total Investments - 116.7%
(Cost $801,422,722)			$	563,610,247

Percentages are based on Net Assets of $482,780,192.
ADR -	American Depositary Receipt
(a)	Non-income producing security.
(b)	All or a portion of this security is out on loan as of January 31, 2022. Total value of securities out on loan is $84,046,419 or 17.4% of net assets.
(c)	Security exempt from registration under Rule 144(a) and Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities, according to the Fund’s liquidity guidelines. At January 31, 2022 the value of these securities amounted to $11,238,230 or 2.3% of net assets.
(d)	Seven-day yield as of January 31, 2022.

For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition may not apply for purposes of this report, which may combine sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

Security Valuation

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The following describes the levels of the fair value hierarchy:

Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;
Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and
Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

The valuation techniques used by the Funds to measure fair value for the period ended January 31, 2022 maximized the use of observable inputs and minimized the use of unobservable inputs.

For the period ended January 31, 2022, there have been no significant changes to the Fund's fair valuation methodologies.

Common stocks, preferred stock, and other equity securities listed on any national or foreign exchange (excluding Nasdaq) and the London Stock Exchange Alternative Investment Market (“AIM”) will be valued at the last price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the exchange representing the principal market for such securities. Foreign securities and other assets denominated in foreign currencies are translated into U.S. dollars at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies shall be valued at the investment company’s applicable NAV, with the exception of exchange-traded open-end and closed-end investment companies which are priced as equity securities. Exchange-traded options will be valued at the current mean price where such contracts are principally traded. Securities traded in the over-the-counter market are valued at the mean of the bid and the asked price, if available, and otherwise at their closing bid price. Fixed income securities will be valued using the mean price. Fixed income securities having a remaining maturity of 60 days or less when purchased will be valued at the current market price. If there is no current market price available then the securities will be valued at cost and adjusted for amortization of premiums and accretions of discounts. Swaps will be valued by using the market close price of the underlying holdings. If there is no market price available, then the securities will be valued at the last price.

If no quotation is available from either a pricing service, or one or more brokers or if the pricing committee has reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith by the pricing committee, pursuant to procedures established under the general supervision and responsibility of the Fund’s Board of Trustees (the “Board”).

The following is a summary of the fair valuations according to the inputs used to value the Fund's investments as of January 31, 2022:

	Category
	Investments in Securities
	Assets
	Level 1
	Common Stocks	$	481,374,052
	Money Market Funds		1,465,352
	Investments Purchased with Proceeds from Securities Lending		80,770,843
	Total Level 1		563,610,247
	Level 2		-
	Total Level 2		-
	Level 3		-
	Total Level 3		-
	Total	$	563,610,247

See the Schedule of Investments for further disaggregation of investment categories.

For the period ended January 31, 2022, there were no transfers into or out of Level 3 for the Fund.

Secured Borrowings (Unaudited)
The Funds adopted guidance requiring entities to present gross obligations for secured borrowings by the type of collateral pledged and remaining time to maturity.

As of January 31, 2022, the Fund had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Fund could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Fund is indemnified from this risk by contract with the Securities Lending Agent.