(null)

NPORT-P false 0001633061 XXXXXXXX S000061920 C000200636 Amplify ETF Trust 811-23108 0001633061 5493006EMX6222CPWJ71 310 South Hale Street Wheaton 60187 855-267-3837 Amplify Lithium & Battery Technology ETF S000061920 549300SPZTELK054BM10 2022-10-31 2022-01-31 N 253994115.510000000000 30340909.400000000000 223653206.110000000000 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 N Albemarle Corp HDBLS2Q6GV1LSKQPBS54 Albemarle Corp 012653101 16501.000000000000 NS USD 3642430.740000000000 1.6286065393 Long EC CORP US N 1 N N N BHP Group Ltd WZE1WSENV6JSZFK0JC28 BHP Group Ltd 088606108 273756.000000000000 NS USD 17410881.600000000000 7.7847672756 Long EC CORP AU N 1 N N Blink Charging Co N/A Blink Charging Co 09354A100 47901.000000000000 NS USD 1001609.910000000000 0.4478406223 Long EC CORP US N 1 N N ChargePoint Holdings Inc N/A ChargePoint Holdings Inc 15961R105 88802.000000000000 NS USD 1229907.700000000000 0.5499173123 Long EC CORP US N 1 N N First Quantum Minerals Ltd 549300I7UVBGWRYMYZ18 First Quantum Minerals Ltd 335934105 127871.000000000000 NS 3149621.220000000000 1.4082611534 Long EC CORP CA N 1 N N N Lundin Mining Corp 549300FQDIM6C8HTN269 Lundin Mining Corp 550372106 223319.000000000000 NS 1860479.260000000000 0.8318589715 Long EC CORP CA N 1 N N N EnerSys 7ZS3DE5PN30BYUJFWP05 EnerSys 29275Y102 21711.000000000000 NS USD 1626805.230000000000 0.7273784527 Long EC CORP US N 1 N N N Eos Energy Enterprises Inc N/A Eos Energy Enterprises Inc 29415C101 133847.000000000000 NS USD 554126.580000000000 0.2477615187 Long EC CORP US N 1 N N N EVgo Inc N/A EVgo Inc 30052F100 167880.000000000000 NS USD 1385010.000000000000 0.6192667765 Long EC CORP US N 1 N N First American Government Obli 549300R5MYM6VZF1RM44 First American Government Obligations Fund 31846V336 30138363.510000000000 NS USD 30138363.510000000000 13.4754891442 Long STIV RF US N 1 N N Fisker Inc 549300UUN5RWU44MBX79 Fisker Inc 33813J106 31057.000000000000 NS USD 366783.170000000000 0.1639963837 Long EC CORP US N 1 N N FuelCell Energy Inc 549300SRU8020X1X9J22 FuelCell Energy Inc 35952H601 187533.000000000000 NS USD 795139.920000000000 0.3555235956 Long EC CORP US N 1 N N Eramet SA 549300LUH78PG2MP6N64 Eramet SA F3145H130 20864.000000000000 NS 2132997.800000000000 0.9537076786 Long EC CORP FR N 1 N N N Hyliion Holdings Corp N/A Hyliion Holdings Corp 449109107 184934.000000000000 NS USD 822956.300000000000 0.3679608776 Long EC CORP US N 1 N N Li Auto Inc 2549003R73Q70J5H4I65 Li Auto Inc 50202M102 93675.000000000000 NS USD 2443980.750000000000 1.0927546233 Long EC CORP CN N 1 N N N Li-Cycle Holdings Corp N/A Li-Cycle Holdings Corp 50202P105 124001.000000000000 NS USD 939927.580000000000 0.4202611697 Long EC CORP CA N 1 N N N Lightning eMotors Inc 549300JQ9U3NF5XD5A71 Lightning eMotors Inc 53228T101 181713.000000000000 NS USD 819525.630000000000 0.3664269537 Long EC CORP US N 1 N N Lion Electric Co/The 894500XKOKXHCZ99CE73 Lion Electric Co/The 536221104 122971.000000000000 NS USD 1078455.670000000000 0.4821999598 Long EC CORP CA N 1 N N Livent Corp 254900OOLQ2VNMZTJL47 Livent Corp 53814L108 62891.000000000000 NS USD 1447121.910000000000 0.6470383033 Long EC CORP US N 1 N N N Lucid Group Inc N/A Lucid Group Inc 549498103 153730.000000000000 NS USD 4518124.700000000000 2.0201475215 Long EC CORP US N 1 N N Varta AG 529900E7KB95KOXBWP63 Varta AG D85802110 13371.000000000000 NS 1430353.910000000000 0.6395409817 Long EC CORP DE N 1 N N Microvast Holdings Inc 549300J4UX9OMHSTKS35 Microvast Holdings Inc 59516C106 187253.000000000000 NS USD 1037381.620000000000 0.4638348978 Long EC CORP US N 1 N N African Rainbow Minerals Ltd 529900L3TPSCK8ZVZ589 African Rainbow Minerals Ltd S01680107 136628.000000000000 NS 2024974.520000000000 0.9054082234 Long EC CORP ZA N 1 N N N Aneka Tambang Tbk 529900LRE2NALSSHMB80 Aneka Tambang Tbk Y7116R158 11643181.000000000000 NS 1432932.160000000000 0.6406937709 Long EC CORP ID N 1 N N N Western Areas Ltd 213800QVJGB47FY5Z403 Western Areas Ltd Q9618L100 671282.000000000000 NS 1632723.680000000000 0.7300247148 Long EC CORP AU N 1 N N N NIO Inc 549300JBU4TV5OCKJV96 NIO Inc 62914V106 153998.000000000000 NS USD 3774490.980000000000 1.6876534192 Long EC CORP CN N 1 N N N LG Chem Ltd 988400IES4EIG7O06940 LG Chem Ltd Y52758102 8954.000000000000 NS 4746251.350000000000 2.1221476913 Long EC CORP KR N 1 N N N JINCHUAN INTL 254900RWLOXOMORJEB03 Jinchuan Group International Resources Co Ltd G5138B102 11132962.000000000000 NS 1970423.120000000000 0.8810171579 Long EC CORP HK N 1 N N N Simplo Technology Co Ltd N/A Simplo Technology Co Ltd Y7987E104 146854.000000000000 NS 1657875.750000000000 0.7412707284 Long EC CORP TW N 1 N N N IGO Ltd 2549005DZO8VGXM5QN07 IGO Ltd Q4875H108 274251.000000000000 NS 2278428.120000000000 1.0187325993 Long EC CORP AU N 1 N N N BYD Co Ltd 5299005557VL7ULJ7A69 BYD Co Ltd Y1023R104 329433.000000000000 NS 9354366.870000000000 4.1825319801 Long EC CORP CN N 1 N N N Nikola Corp 6354007SKFUCHYZAKQ61 Nikola Corp 654110105 128400.000000000000 NS USD 1031052.000000000000 0.4610047931 Long EC CORP US N 1 N N Panasonic Corp 254900GE1G59KGWPHX32 Panasonic Corp J6354Y104 360618.000000000000 NS 3924870.050000000000 1.7548910290 Long EC CORP JP N 1 N N N L&F Co Ltd N/A L&F Co Ltd Y52747105 12511.000000000000 NS 1751851.350000000000 0.7832891737 Long EC CORP KR N 1 N N N NEC Corp 5493000QYMPFRTEY4K28 NEC Corp J48818207 56057.000000000000 NS 2167654.240000000000 0.9692032937 Long EC CORP JP N 1 N N N Dynapack International Technol N/A Dynapack International Technology Corp Y2185V107 412499.000000000000 NS 1505308.420000000000 0.6730547020 Long EC CORP TW N 1 N N N GS Yuasa Corp 353800MW7O6PQQHLDR79 GS Yuasa Corp J1770L109 74587.000000000000 NS 1579497.040000000000 0.7062259770 Long EC CORP JP N 1 N N N Samsung SDI Co Ltd 9884002AESDO4YW87G32 Samsung SDI Co Ltd Y74866107 9047.000000000000 NS 4382785.570000000000 1.9596345817 Long EC CORP KR N 1 N N N Showa Denko KK 5493006AIPA1V92YPP18 Showa Denko KK J75046136 77497.000000000000 NS 1595328.410000000000 0.7133045118 Long EC CORP JP N 1 N N N Sumitomo Metal Mining Co Ltd 353800CF81IXL9974H84 Sumitomo Metal Mining Co Ltd J77712180 67642.000000000000 NS 3084682.100000000000 1.3792255223 Long EC CORP JP N 1 N N N Piedmont Lithium Inc 254900QJ73581MY1JN11 Piedmont Lithium Inc 72016P105 23440.000000000000 NS USD 1134027.200000000000 0.5070471467 Long EC CORP US N 1 N N Plug Power Inc 549300JPDKRSJ8JSM954 Plug Power Inc 72919P202 91286.000000000000 NS USD 1996424.820000000000 0.8926430587 Long EC CORP US N 1 N N N Proterra Inc N/A Proterra Inc 74374T109 143837.000000000000 NS USD 1137750.670000000000 0.5087119875 Long EC CORP US N 1 N N QuantumScape Corp N/A QuantumScape Corp 74767V109 42317.000000000000 NS USD 706270.730000000000 0.3157883324 Long EC CORP US N 1 N N Romeo Power Inc N/A Romeo Power Inc 776153108 343883.000000000000 NS USD 811563.880000000000 0.3628670897 Long EC CORP US N 1 N N Invesco Government & Agency Po 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio 825252885 209898.330000000000 NS USD 209898.330000000000 0.0938499088 Long STIV RF US N 1 N N N Sociedad Quimica y Minera de C TJ88LXZZW5PWIN93ZC81 Sociedad Quimica y Minera de Chile SA 833635105 50330.000000000000 NS USD 2725369.500000000000 1.2185693858 Long EC CORP CL N 1 N N N SolarEdge Technologies Inc 5493000K6Y58XXPDF853 SolarEdge Technologies Inc 83417M104 9279.000000000000 NS USD 2210443.380000000000 0.9883352081 Long EC CORP IL N 1 N N N TMC the metals co Inc N/A TMC the metals co Inc 87261Y106 472490.000000000000 NS USD 718184.800000000000 0.3211153609 Long EC CORP CA N 1 N N Tesla Inc 54930043XZGB27CTOV49 Tesla Inc 88160R101 14160.000000000000 NS USD 13263955.200000000000 5.9305902342 Long EC CORP US N 1 N N N XPeng Inc N/A XPeng Inc 98422D105 80042.000000000000 NS USD 2808673.780000000000 1.2558164619 Long EC CORP CN N 1 N N N Vale Indonesia Tbk PT 5299002HHYBH7C6WBQ62 Vale Indonesia Tbk PT Y7150Y101 5488113.000000000000 NS 1797316.940000000000 0.8036177845 Long EC CORP ID N 1 N N N Mineral Resources Ltd 5299007V1ACKFFX2P066 Mineral Resources Ltd Q60976109 67831.000000000000 NS 2657453.150000000000 1.1882025732 Long EC CORP AU N 1 N N N China Molybdenum Co Ltd 2549008KG3638J59U652 China Molybdenum Co Ltd Y1503Z105 5533711.000000000000 NS 2810485.450000000000 1.2566264973 Long EC CORP CN N 1 N N N AMG Advanced Metallurgical Gro 5493006MN6OH67U2YI74 AMG Advanced Metallurgical Group NV N04897109 53322.000000000000 NS 1818694.020000000000 0.8131759216 Long EC CORP NL N 1 N N N Pilbara Minerals Ltd 5299000VV1CZVF5K9C16 Pilbara Minerals Ltd Q7539C100 1131192.000000000000 NS 2559384.580000000000 1.1443540759 Long EC CORP AU N 1 N N N Iljin Materials Co Ltd N/A Iljin Materials Co Ltd Y3884M109 21925.000000000000 NS 1704166.320000000000 0.7619682050 Long EC CORP KR N 1 N N N Glencore PLC 2138002658CPO9NBH955 Glencore PLC G39420107 1586427.000000000000 NS 8171629.900000000000 3.6537056822 Long EC CORP CH N 1 N N N Eve Energy Co Ltd 300300FTCIO530XV7T38 Eve Energy Co Ltd N/A 269573.000000000000 NS 3949990.760000000000 1.7661230209 Long EC CORP CN N 1 N N N Sunwoda Electronic Co Ltd N/A Sunwoda Electronic Co Ltd N/A 340900.000000000000 NS 1883549.690000000000 0.8421742405 Long EC CORP CN N 1 N N N NAURA Technology Group Co Ltd 300300JI5I0B95GO5C39 NAURA Technology Group Co Ltd N/A 72284.000000000000 NS 3213707.340000000000 1.4369153905 Long EC CORP CN N 1 N N N LEAD INTELLIGENT N/A Wuxi Lead Intelligent Equipment Co Ltd N/A 265992.000000000000 NS 3002849.040000000000 1.3426362592 Long EC CORP CN N 1 N N N Neo Lithium Corp 254900R0YJWNNUFEYU56 Neo Lithium Corp 64047A108 293507.000000000000 NS 1499687.660000000000 0.6705415433 Long EC CORP CA N 1 N N N Standard Lithium Ltd 549300LA4BSHAKT4SL33 Standard Lithium Ltd 853606101 130095.000000000000 NS 955896.080000000000 0.4274010181 Long EC CORP CA N 1 N N N Shanghai Putailai New Energy T N/A Shanghai Putailai New Energy Technology Co Ltd N/A 122200.000000000000 NS 2731830.930000000000 1.2214584255 Long EC CORP CN N 1 N N N Umicore SA 529900F3AIQECS8ZSV61 Umicore SA B95505184 49239.000000000000 NS 1848702.850000000000 0.8265934936 Long EC CORP BE N 1 N N N Lithium Americas Corp 529900Q9ENG7EHHZ5R75 Lithium Americas Corp 53680Q207 54527.000000000000 NS 1428001.280000000000 0.6384890719 Long EC CORP CA N 1 N N Yunnan Energy New Material N/A Yunnan Energy New Material Co Ltd N/A 121054.000000000000 NS 4832194.750000000000 2.1605747729 Long EC CORP CN N 1 N N N Zhejiang Huayou Cobalt Co Ltd 30030099QFLNMEGP7M05 Zhejiang Huayou Cobalt Co Ltd N/A 204979.000000000000 NS 3167741.640000000000 1.4163631701 Long EC CORP CN N 1 N N N ioneer Ltd N/A ioneer Ltd Q4978A109 2794738.000000000000 NS 1304170.230000000000 0.5831216340 Long EC CORP AU N 1 N N N CATL 300300KINDY1K0E9I032 Contemporary Amperex Technology Co Ltd Y1R48E105 184379.000000000000 NS 17165276.910000000000 7.6749523106 Long EC CORP CN N 1 N N N Ecopro BM Co Ltd N/A Ecopro BM Co Ltd Y2243T102 6301.000000000000 NS 1715983.660000000000 0.7672519835 Long EC CORP KR N 1 N N N Fastned BV 7245000V8JJ8CE1L8G60 Fastned BV N/A 26745.000000000000 NS 1398665.070000000000 0.6253722423 Long EC CORP NL N 1 N N Vulcan Energy Resources Ltd 8945006OYFHQ9HE4XE54 Vulcan Energy Resources Ltd Q9496S102 170987.000000000000 NS 1111035.280000000000 0.4967669810 Long EC CORP AU N 1 N N N Largo Inc 549300DNLDBZOCZKIM08 Largo Inc 517097101 126678.000000000000 NS 1058349.020000000000 0.4732098584 Long EC CORP CA N 1 N N Allkem Ltd 2138006SR6M416DVKM86 Allkem Ltd Q0226L103 278175.000000000000 NS 1778016.450000000000 0.7949881341 Long EC CORP AU N 1 N N N Nouveau Monde Graphite Inc 549300JDLMT728W4PV57 Nouveau Monde Graphite Inc 66979W842 162679.000000000000 NS 1136443.000000000000 0.5081273011 Long EC CORP CA N 1 N N N SK IE Technology Co Ltd 988400ZA9LM3JZBI5088 SK IE Technology Co Ltd N/A 17651.000000000000 NS 1683836.580000000000 0.7528783554 Long EC CORP KR N 1 N N N South32 Ltd 213800LAZNPXSBKVHR17 South32 Ltd Q86668102 990147.000000000000 NS 2695315.770000000000 1.2051317381 Long EC CORP AU N 1 N N N MMC Norilsk Nickel PJSC 253400JPTEEW143W3E47 MMC Norilsk Nickel PJSC 55315J102 207530.000000000000 NS USD 5835743.600000000000 2.6092823356 Long EC CORP RU N 1 N N N Yadea Group Holdings Ltd N/A Yadea Group Holdings Ltd G9830F106 318018.000000000000 NS 451103.830000000000 0.2016979045 Long EC CORP CN N 1 N N N Johnson Matthey PLC 2138001AVBSD1HSC6Z10 Johnson Matthey PLC G51604166 59237.000000000000 NS 1545555.510000000000 0.6910500130 Long EC CORP GB N 1 N N N Ganfeng Lithium Co Ltd 3003006BE6UOHWEOOR42 Ganfeng Lithium Co Ltd Y2690M105 259371.000000000000 NS 4071669.460000000000 1.8205280983 Long EC CORP CN N 1 N N N Arrival SA 549300IID9QLI5KRBG37 Arrival SA L0423Q108 57082.000000000000 NS USD 223190.620000000000 0.0997931681 Long EC CORP LU N 1 N N FREYR Battery SA 222100QIBHPZGVW6UT76 FREYR Battery SA L4135L100 140015.000000000000 NS USD 1271336.200000000000 0.5684408563 Long EC CORP NO N 1 N N Wallbox NV 894500JI9CLUTQ0H9V68 Wallbox NV N94209108 109362.000000000000 NS USD 1315624.860000000000 0.5882432373 Long EC CORP ES N 1 N N 2022-02-24 Amplify ETF Trust /s/ Bradley H. Bailey Amplify ETF Trust Principal Financial Officer XXXX

Amplify Lithium & Battery Technology ETF
Schedule of Investments
January 31, 2022 (Unaudited)

Description	Shares		Value

COMMON STOCKS - 99.6%
Consumer Discretionary - 19.3%
Arrival SA (a) (b)		57,082	$	223,190
BYD Co. Ltd. - Class H		329,433		9,354,367
EVgo, Inc. (a) (b)		167,880		1,385,010
Fisker, Inc. (a) (b)		31,057		366,783
Li Auto, Inc. - ADR (a)		93,675		2,443,981
Lucid Group, Inc. (a) (b)		153,730		4,518,125
NIO, Inc. - ADR (a)		153,998		3,774,491
Panasonic Corp.		360,618		3,924,870
QuantumScape Corp. (a) (b)		42,317		706,271
Tesla, Inc. (a)		14,160		13,263,955
XPeng, Inc. - ADR (a)		80,042		2,808,674
Yadea Group Holdings Ltd. (c)		318,018		451,104
				43,220,821
Industrials - 20.2%
Blink Charging Co. (a) (b)		47,901		1,001,610
ChargePoint Holdings, Inc. (a) (b)		88,802		1,229,908
Contemporary Amperex Technology Co. Ltd.		184,379		17,165,277
Ecopro BM Co. Ltd.		6,301		1,715,984
EnerSys		21,711		1,626,805
Eos Energy Enterprises, Inc. (a)		133,847		554,126
Eve Energy Co. Ltd.		269,573		3,949,991
FREYR Battery SA (a) (b)		140,015		1,271,336
FuelCell Energy, Inc. (a) (b)		187,533		795,140
GS Yuasa Corp.		74,587		1,579,497
Hyliion Holdings Corp. (a) (b)		184,934		822,956
Li-Cycle Holdings Corp. (a)		124,001		939,927
Lightning eMotors, Inc. (a) (b)		181,713		819,525
Microvast Holdings, Inc. (a) (b)		187,253		1,037,381
Nikola Corp. (a) (b)		128,400		1,031,052
Plug Power, Inc. (a)		91,286		1,996,425
Proterra, Inc. (a) (b)		143,837		1,137,751
Romeo Power, Inc. (a) (b)		343,883		811,564
Sunwoda Electronic Co. Ltd.		340,900		1,883,550
The Lion Electric Co. (a) (b)		122,971		1,078,456
Varta AG (b)		13,371		1,430,354
Wallbox NV (a) (b)		109,362		1,315,625
				45,194,240
Information Technology - 9.7%
Dynapack International Technology Corp.		412,499		1,505,309
Iljin Materials Co. Ltd.		21,925		1,704,166
L&F Co. Ltd. (a)		12,511		1,751,851
NAURA Technology Group Co. Ltd.		72,284		3,213,707
NEC Corp.		56,057		2,167,654
Samsung SDI Co. Ltd.		9,047		4,382,786
Simplo Technology Co. Ltd.		146,854		1,657,876
SolarEdge Technologies, Inc. (a)		9,279		2,210,443
Wuxi Lead Intelligent Equipment Co. Ltd.		265,992		3,002,849
				21,596,641
Materials - 49.8%
African Rainbow Minerals Ltd.		136,628		2,024,975
Albemarle Corp.		16,501		3,642,431
Allkem Ltd. (a)		278,175		1,778,016
AMG Advanced Metallurgical Group NV		53,322		1,818,694
Aneka Tambang Tbk		11,643,181		1,432,932
BHP Group Ltd. - ADR (b)		273,756		17,410,882
China Molybdenum Co. Ltd. - Class H		5,533,711		2,810,485
Eramet SA (a)		20,864		2,132,998
First Quantum Minerals Ltd.		127,871		3,149,621
Ganfeng Lithium Co. Ltd. - Class H (c)		259,371		4,071,669
Glencore PLC		1,586,427		8,171,630
IGO Ltd.		274,251		2,278,428
ioneer Ltd. (a)		2,794,738		1,304,170
Jinchuan Group International Resources Co. Ltd.		11,132,962		1,970,423
Johnson Matthey PLC		59,237		1,545,556
Largo, Inc. (a) (b)		126,678		1,058,349
LG Chem Ltd.		8,954		4,746,251
Lithium Americas Corp. (a) (b)		54,527		1,428,001
Livent Corp. (a)		62,891		1,447,122
Lundin Mining Corp.		223,319		1,860,479
Mineral Resources Ltd.		67,831		2,657,453
MMC Norilsk Nickel PJSC - ADR		207,530		5,835,744
Neo Lithium Corp. (a)		293,507		1,499,688
Nouveau Monde Graphite, Inc. (a)		162,679		1,136,443
Piedmont Lithium, Inc. (a) (b)		23,440		1,134,027
Pilbara Minerals Ltd. (a)		1,131,192		2,559,385
Shanghai Putailai New Energy Technology Co. Ltd.		122,200		2,731,831
Showa Denko KK		77,497		1,595,328
SK IE Technology Co., Ltd. (a) (c)		17,651		1,683,837
Sociedad Quimica y Minera de Chile SA - ADR		50,330		2,725,369
South32 Ltd.		990,147		2,695,316
Standard Lithium Ltd. (a)		130,095		955,896
Sumitomo Metal Mining Co. Ltd.		67,642		3,084,682
TMC the metals co., Inc. (a) (b)		472,490		718,185
Umicore SA		49,239		1,848,703
Vale Indonesia Tbk PT		5,488,113		1,797,317
Vulcan Energy Resources Ltd. (a)		170,987		1,111,035
Western Areas Ltd. (a)		671,282		1,632,724
Yunnan Energy New Material Co. Ltd.		121,054		4,832,195
Zhejiang Huayou Cobalt Co. Ltd.		204,979		3,167,742
				111,486,012
Utilities - 0.6%
Fastned BV (a) (b)		26,745		1,398,665
Total Common Stocks (Cost $241,329,126)				222,896,379

MONEY MARKET FUNDS - 0.1%
Invesco Government & Agency Portfolio - Institutional Class - 0.03% (d)		209,898		209,898
Total Money Market Funds (Cost $209,898)				209,898

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 13.5%
First American Government Obligations Fund, Class X - 0.03% (d)		30,138,364		30,138,364
Total Investments Purchased with Proceeds from Securities Lending (Cost $30,138,364)				30,138,364
Total Investments - 113.2%
(Cost $271,677,388)			$	253,244,641

Percentages are based on Net Assets of $223,673,024.

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 $30,721,743 or 13.7% 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 $6,206,610 or 2.8% 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.

The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC (“S&P”). GICS^® is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

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 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
	Australia	$	33,427,409
	Belgium		1,848,703
	Britain		1,545,555
	Canada		13,825,046
	Chile		2,725,369
	China		65,661,912
	France		2,132,998
	Germany		1,430,354
	Hong Kong		1,970,423
	Indonesia		3,230,249
	Israel		2,210,443
	Japan		12,352,032
	Luxembourg		223,191
	Netherlands		3,217,359
	Norway		1,271,336
	Russia		5,835,744
	South Africa		2,024,974
	South Korea		15,984,875
	Spain		1,315,625
	Switzerland		8,171,630
	Taiwan		3,163,184
	United States		39,327,968
	Money Market Funds		209,898
	Investments Purchased with Proceeds from Securities Lending		30,138,364
	Total Level 1		253,244,641
	Level 2
	Total Level 2		-
	Level 3
	Total Level 3		-
	Total	$	253,244,641

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.