Roundhill Sports Betting & iGaming ETF
  
Schedule of Investments
  
March 31, 2026 (Unaudited)
  
   
COMMON STOCKS - 99.3%
  
Shares
   
Value
 
Entertainment - 92.2% (a)
        
Allwyn AG
    
125,771
    
$
1,896,926
  
Aristocrat Leisure Ltd.
    
71,364
      
2,215,599
  
Ballys Intralot SA (b)
    
335,073
      
354,029
  
Betsson AB
    
180,943
      
1,903,214
  
Caesars Entertainment, Inc. (b)(c)
    
37,307
      
986,024
  
Churchill Downs, Inc.
    
27,239
      
2,446,879
  
Codere Online Luxembourg SA (b)(c)
    
43,427
      
369,130
  
DraftKings, Inc. - Class A (b)
    
111,569
      
2,412,122
  
Entain PLC
    
308,436
      
2,281,789
  
Evoke PLC (b)
    
1,006,025
      
454,378
  
Evolution AB (d)
    
51,260
      
3,148,915
  
FDJ UNITED
    
104,750
      
3,039,066
  
Flutter Entertainment PLC (b)(c)
    
25,969
      
2,647,540
  
Kambi Group PLC (b)(c)
    
21,596
      
265,012
  
Lottery Corp. Ltd.
    
772,592
      
2,846,812
  
Lottomatica Group SpA
    
115,567
      
3,296,968
  
Penn Entertainment, Inc. (b)(c)
    
71,545
      
1,075,321
  
Playtech PLC
    
459,653
      
2,024,529
  
Rush Street Interactive, Inc. (b)
    
145,750
      
3,170,062
  
Sportradar Group AG - Class A (b)
    
92,885
      
1,554,895
  
Super Group SGHC Ltd.
    
239,717
      
2,588,944
  
Tabcorp Holdings Ltd.
    
4,321,303
      
2,782,075
  
Tokyotokeiba Co. Ltd.
    
25,700
      
917,569
  
             
44,677,798
  
                 
Internet - 1.5%
          
Better Collective AS (b)(c)
    
16,497
      
238,287
  
Jumbo Interactive Ltd.
    
96,770
      
511,001
  
             
749,288
  
                 
Lodging - 4.7%
          
Boyd Gaming Corp. (c)
    
10,959
      
900,611
  
MGM Resorts International (b)(c)
    
37,131
      
1,374,218
  
             
2,274,829
  
                 
Software - 0.9%
          
Genius Sports, Ltd. (b)
    
96,631
      
428,076
  
TOTAL COMMON STOCKS (Cost $57,757,027)
      
48,129,991
  
                 
SHORT-TERM INVESTMENTS
  
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 10.2%
  
Units
   
Value
 
Mount Vernon Liquid Assets Portfolio, LLC, 3.78% (e)
    
4,945,442
      
4,945,442
  
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $4,945,442)
      
4,945,442
  
                 
MONEY MARKET FUNDS - 0.5%
  
Shares
   
Value
 
First American Government Obligations Fund - Class X, 3.58% (e)
    
226,338
      
226,338
  
TOTAL MONEY MARKET FUNDS (Cost $226,338)
      
226,338
  
                 
TOTAL INVESTMENTS - 110.0% (Cost $62,928,807)
      
53,301,771
  
Liabilities in Excess of Other Assets - (10.0)%
      
(4,858,503
)
TOTAL NET ASSETS - 100.0%
          
$
48,443,268
  
                 
Percentages are stated as a percent of net assets.
          

LLC - Limited Liability Company
PLC - Public Limited Company

(a)
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.
(b)
Non-income producing security.
(c)
All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $4,993,257.
(d)
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 March 31, 2026, the value of these securities total $3,148,915 or 6.5% of the Fund’s net assets.
(e)
The rate shown represents the 7-day annualized yield as of March 31, 2026.
Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
 
Roundhill Sports Betting & iGaming ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
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 speeds, 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 based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of March 31, 2026:


   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
48,129,991
    
$
–
    
$
–
    
$
48,129,991
  
  Investments Purchased with Proceeds from Securities Lending(a)
    
–
      
–
      
–
      
4,945,442
  
  Money Market Funds
    
226,338
      
–
      
–
      
226,338
  
Total Investments
  
$
48,356,329
    
$
–
    
$
–
    
$
53,301,771
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  

(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $4,945,442 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

Allocation of Portfolio Holdings by Country as of March 31, 2026
        
(% of Net Assets)
        
Australia
  
$
8,355,487
      
17.2
%
Sweden
    
5,052,129
      
10.4
  
Italy
    
3,296,968
      
6.8
  
France
    
3,039,066
      
6.3
  
United Kingdom
    
2,709,865
      
5.6
  
Guernsey
    
2,588,944
      
5.3
  
Luxembourg
    
2,266,056
      
4.7
  
IM
    
2,024,529
      
4.2
  
Switzerland
    
1,554,895
      
3.2
  
Japan
    
917,569
      
1.9
  
Gibraltar
    
454,378
      
0.9
  
Greece
    
354,029
      
0.7
  
Malta
    
265,012
      
0.6
  
Denmark
    
238,287
      
0.5
  
United States
    
20,184,557
      
41.7
  
Liabilities in Excess of Other Assets
    
(4,858,503
)
    
(10.0
)
   
$
48,443,268
      
100.0
%