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            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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      <managementInvestmentQuestion>
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        <principalAggregatePurchase>35895233.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>12983565.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Simplify Asset Management Inc.</liquidityName>
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            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>Y</isAffiliatedPerson>
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            <assetClassType>Derivative-foreign exchange</assetClassType>
            <assetClassType>Derivative-interest rate</assetClassType>
            <assetClassType>Short-term investment vehicle</assetClassType>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify Enhanced Income ETF</mgmtInvFundName>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
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          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
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          <shareholderServicingAgent>
            <shareholderServiceAgentName>The Bank of New York Mellon</shareholderServiceAgentName>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Bank of New York Mellon</adminName>
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        <brokerDealers>
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          <broker>
            <brokerName>JANE STREET EXECUTION SERVICES, LLC</brokerName>
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            <brokerName>OLD MISSION MARKETS LLC</brokerName>
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          <broker>
            <brokerName>IMC EXECUTION SERVICES</brokerName>
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            <grossCommission>4005.00000000</grossCommission>
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        <aggregateCommission>201670.67000000</aggregateCommission>
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          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
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            <principalName>NOMURA SECURITIES INTERNATIONAL, INC.</principalName>
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            <principalName>CitiGroup Global Markets Inc.</principalName>
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            <principalName>BOFA SECURITIES, INC.</principalName>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
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            <liquidityName>Simplify Asset Management Inc.</liquidityName>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify Gamma Emerging Market Bond ETF</mgmtInvFundName>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
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        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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            <pricingServiceName>Refinitiv</pricingServiceName>
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            <custodianName>Banco Itau Uruguay S.A.</custodianName>
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          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Simplify Asset Management Inc.</investmentAdviserName>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>The Bank of New York Mellon</transferAgentName>
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            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
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            <custodianName>The Bank of New York Mellon</custodianName>
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            <shareholderServiceAgentName>The Bank of New York Mellon</shareholderServiceAgentName>
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            <adminName>The Bank of New York Mellon</adminName>
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          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>319543283.25000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Simplify Asset Management Inc.</liquidityName>
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            <isAffiliatedPerson>Y</isAffiliatedPerson>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify High Yield ETF</mgmtInvFundName>
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        <sharesOutstandings>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <investmentAdvisers>
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          <fundType>Exchange-Traded Fund</fundType>
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        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(f)(17 CFR 270.18f-4(f))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Simplify Asset Management Inc.</liquidityName>
            <liquidityLei>549300E3XNKOUYLNJO28</liquidityLei>
            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>Y</isAffiliatedPerson>
            <assetClassType>ABS-mortgage backed security</assetClassType>
            <assetClassType>Debt</assetClassType>
            <assetClassType>Short-term investment vehicle</assetClassType>
          </liquidityClassificationService>
        </liquidityClassifications>
        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify Managed Futures Strategy ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000075092</mgmtInvSeriesId>
        <mgmtInvLei>549300WB4VYZON2V0562</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
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        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Simplify Managed Futures Strategy ETF" sharesOutstandingClassId="C000233897" sharesOutstandingTickerSymbol="CTA"/>
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        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <foreignInvestments isForeignSubsidiary="Y">
          <foreignInvestment foreignSubsidiaryName="Simplify Managed Futures Strategy Cayman Fund" foreignSubsidiaryLei="N/A" foreignSubsidiaryRssdId="N/A"/>
        </foreignInvestments>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(d)(ii) (17 CFR 270.18f-4(d)(ii))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(f)(17 CFR 270.18f-4(f))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Simplify Asset Management Inc.</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>ALTIS PARTNERS (JERSEY) LIMITED</subAdviserName>
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            <subAdviserLei>549300K3GCBT4QOSW803</subAdviserLei>
            <isSubAdviserAffiliated>N</isSubAdviserAffiliated>
            <subAdviserCountry>JE</subAdviserCountry>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>The Bank of New York Mellon</transferAgentName>
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            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
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            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>The Bank of New York Mellon</shareholderServiceAgentName>
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            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
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        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Bank of New York Mellon</adminName>
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            <adminStateCountry adminState="US-NY" adminCountry="US"/>
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            <isAdminSubAdmin>N</isAdminSubAdmin>
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        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Foreside Financial Services, LLC</brokerDealerName>
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            <brokerDealerCommission>0.00000000</brokerDealerCommission>
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        <brokers>
          <broker>
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            <brokerStateCountry brokerState="US-CT" brokerCountry="US"/>
            <grossCommission>24708.00000000</grossCommission>
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          <broker>
            <brokerName>Wolverine Execution Services LLC</brokerName>
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            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>1444.00000000</grossCommission>
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          <broker>
            <brokerName>VIRTU AMERICAS LLC</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>386.00000000</grossCommission>
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        <aggregateCommission>26537.26000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
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          <principalTransaction>
            <principalName>NOMURA SECURITIES INTERNATIONAL, INC.</principalName>
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            <principalTotalPurchaseSale>413949638.00000000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>CitiGroup Global Markets Inc.</principalName>
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          <principalTransaction>
            <principalName>MORGAN STANLEY &amp; CO. LLC</principalName>
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          <principalTransaction>
            <principalName>BNY MELLON CAPITAL MARKETS, LLC</principalName>
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          <principalTransaction>
            <principalName>The Bank of New York Mellon</principalName>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1300539331.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
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        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Simplify Asset Management Inc.</liquidityName>
            <liquidityLei>549300E3XNKOUYLNJO28</liquidityLei>
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            <isAffiliatedPerson>Y</isAffiliatedPerson>
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            <assetClassType>Equity-common</assetClassType>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify Multi-QIS Alternative ETF</mgmtInvFundName>
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        <sharesOutstandings>
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        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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        <custodians>
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            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
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        <shareholderServicingAgents>
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            <shareholderServiceAgentName>The Bank of New York Mellon</shareholderServiceAgentName>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Bank of New York Mellon</adminName>
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        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
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            <brokerDealerCommission>0.00000000</brokerDealerCommission>
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          <broker>
            <brokerName>INTERACTIVE BROKERS, LLC</brokerName>
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            <grossCommission>121.00000000</grossCommission>
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          <broker>
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            <brokerName>IMC FINANCIAL MARKETS</brokerName>
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            <grossCommission>18279.00000000</grossCommission>
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          <broker>
            <brokerName>Wolverine Execution Services LLC</brokerName>
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            <grossCommission>28024.00000000</grossCommission>
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            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.00000000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.00000000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00000000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00000000</indexFundReturnDailyStdevAfterExpense>
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        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Simplify Asset Management Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-119255</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000309535</investmentAdviserCrdNo>
            <investmentAdviserLei>549300E3XNKOUYLNJO28</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>The Bank of New York Mellon</transferAgentName>
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            <transferAgentLei>HPFHU0OQ28E4N0NFVK49</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
            <pricingServiceLei>549300561UZND4C7B569</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
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            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>The Bank of New York Mellon</shareholderServiceAgentName>
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            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>The Bank of New York Mellon</adminName>
            <adminLei>HPFHU0OQ28E4N0NFVK49</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Foreside Financial Services, LLC</brokerDealerName>
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            <brokerDealerCrdNo>000148477</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerRssdId>N/A</brokerDealerRssdId>
            <brokerDealerStateCountry brokerDealerState="US-ME" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
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        <brokers>
          <broker>
            <brokerName>VIRTU AMERICAS LLC</brokerName>
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            <brokerCrdNo>000149823</brokerCrdNo>
            <brokerLei>549300RA02N3BNSWBV74</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1822.00000000</grossCommission>
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        <aggregateCommission>1822.66000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
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          <principalTransaction>
            <principalName>VIRTU AMERICAS LLC</principalName>
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            <principalStateCountry principalState="US-NY" principalCountry="US"/>
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          <principalTransaction>
            <principalName>JANE STREET EXECUTION SERVICES, LLC</principalName>
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          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
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          <principalTransaction>
            <principalName>JUNIPER NETWORKS INC</principalName>
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            <principalLei>N/A</principalLei>
            <principalRssdId>N/A</principalRssdId>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>3080.00000000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>CIDARA THERAPEUTICS INC</principalName>
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            <principalStateCountry principalState="US-CA" principalCountry="US"/>
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        <principalAggregatePurchase>34585940.00000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>30136769.00000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <liquidityClassifications>
          <liquidityClassificationService>
            <liquidityName>Simplify Asset Management Inc.</liquidityName>
            <liquidityLei>549300E3XNKOUYLNJO28</liquidityLei>
            <liquidityStateCountry liquidityCountry="US" liquidityState="US-DE"/>
            <isAffiliatedPerson>Y</isAffiliatedPerson>
            <assetClassType>Equity-common</assetClassType>
            <assetClassType>Short-term investment vehicle</assetClassType>
          </liquidityClassificationService>
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        <isLiquidityHiredTerminated>N</isLiquidityHiredTerminated>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Simplify Opportunistic Income ETF</mgmtInvFundName>
        <mgmtInvSeriesId>S000080585</mgmtInvSeriesId>
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        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
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          <fundType>Exchange-Traded Fund</fundType>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(f)(17 CFR 270.18f-4(f))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
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        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Simplify Asset Management Inc.</investmentAdviserName>
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            <subAdviserRssdId>N/A</subAdviserRssdId>
            <isSubAdviserAffiliated>N</isSubAdviserAffiliated>
            <subAdviserStateCountry subAdviserState="US-NV" subAdviserCountry="US"/>
            <isSubAdviserHired>N</isSubAdviserHired>
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          <transferAgent>
            <transferAgentName>The Bank of New York Mellon</transferAgentName>
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            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
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            <custodianName>Euroclear Bank</custodianName>
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            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>Refinitiv</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>CIBC Mellon Trust Company</custodianName>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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            <custodianName>Euroclear Bank</custodianName>
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            <custodianName>The Bank of New York Mellon</custodianName>
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          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
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          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
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          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(e) (17 CFR 270.18f-4(e))</relyOnRuleType>
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