EXCHANGE TRADED CONCEPTS TRUST
ETC 6 Meridian Hedged Equity-Index Option Strategy ETF
ETC 6 Meridian Low Beta Equity Strategy ETF
ETC 6 Meridian Mega Cap Equity ETF
ETC 6 Meridian Small Cap Equity ETF
ETC 6 Meridian Quality Growth ETF
Semi-Annual Report
May
31,
2022
(Unaudited)
6 Meridian
Table of Contents
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1 | ||
|
13 | ||
|
15 | ||
|
17 | ||
|
22 | ||
|
23 | ||
|
33 | ||
|
35 | ||
|
36 | ||
|
37 |
The Funds file their complete schedule of Fund holdings with the Securities and Exchange Commission (the “Commission”) for the first and third quarters of each fiscal year as an exhibit to each Fund’s report on Form N-PORT within sixty days after the period end. Each Fund’s Form N-PORT reports are available on the Commission’s website at https://www.sec.gov.
Exchange Traded Concepts, LLC’s proxy voting policies and procedures are attached to the Funds’ Statement of Additional Information (the “SAI”). The SAI, as well as information relating to how each Fund voted proxies relating to its securities during the most recent 12-month period ended June 30, is available without charge, upon request, by calling 866-SIXM-ETF (749-6383) and on the Commission’s website at https://www.sec.gov.
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
May 31, 2022 (Unaudited)
|
Description |
Shares |
Fair Value | |||
|
COMMON STOCK — 93.6% |
|
||||
|
Communication Services — 6.6% |
|
||||
|
Alphabet, Cl A* |
1,480 |
$ |
3,367,355 | ||
|
Comcast, Cl A |
85,360 |
|
3,779,741 | ||
|
Verizon Communications |
224,074 |
|
11,492,755 | ||
|
|
18,639,851 | ||||
|
Consumer Discretionary — 5.5% |
|
||||
|
Home Depot(A) |
11,247 |
|
3,405,029 | ||
|
Lowe’s(A) |
16,996 |
|
3,319,319 | ||
|
NIKE, Cl B |
27,385 |
|
3,254,707 | ||
|
Target(A) |
15,024 |
|
2,432,085 | ||
|
Tesla* |
3,822 |
|
2,898,070 | ||
|
|
15,309,210 | ||||
|
Consumer Staples — 21.7% |
|
||||
|
Altria Group(A) |
187,053 |
|
10,117,697 | ||
|
Colgate-Palmolive |
91,857 |
|
7,239,250 | ||
|
Costco Wholesale(A) |
6,527 |
|
3,043,018 | ||
|
Kraft Heinz(A) |
164,504 |
|
6,223,186 | ||
|
Mondelez International, Cl A |
54,128 |
|
3,440,376 | ||
|
PepsiCo |
20,581 |
|
3,452,463 | ||
|
Philip Morris International(A) |
105,092 |
|
11,166,025 | ||
|
Procter & Gamble |
21,798 |
|
3,223,488 | ||
|
Walgreens Boots Alliance |
162,415 |
|
7,118,650 | ||
|
Walmart |
45,437 |
|
5,844,561 | ||
|
|
60,868,714 | ||||
|
Energy — 9.5% |
|
||||
|
Chevron |
86,458 |
|
15,100,754 | ||
|
Exxon Mobil(A) |
119,880 |
|
11,508,480 | ||
|
|
26,609,234 | ||||
|
Description |
Shares |
Fair Value | |||
|
Financials — 10.2% |
|
||||
|
American Express |
20,119 |
$ |
3,396,490 | ||
|
American International Group |
58,462 |
|
3,430,550 | ||
|
Berkshire Hathaway, Cl B* |
10,851 |
|
3,428,699 | ||
|
Capital One Financial |
27,265 |
|
3,486,102 | ||
|
JPMorgan Chase |
28,666 |
|
3,790,505 | ||
|
Morgan Stanley |
42,126 |
|
3,628,734 | ||
|
US Bancorp |
141,368 |
|
7,502,400 | ||
|
|
28,663,480 | ||||
|
Health Care — 23.1% |
|
||||
|
AbbVie(A) |
70,053 |
|
10,323,711 | ||
|
Bristol-Myers Squibb |
45,987 |
|
3,469,719 | ||
|
CVS Health(A) |
71,562 |
|
6,923,624 | ||
|
Eli Lilly |
23,848 |
|
7,474,917 | ||
|
Gilead Sciences |
171,762 |
|
11,138,765 | ||
|
Johnson & Johnson(A) |
19,326 |
|
3,469,597 | ||
|
Merck |
39,393 |
|
3,625,338 | ||
|
Pfizer(A) |
285,724 |
|
15,154,802 | ||
|
UnitedHealth Group |
6,889 |
|
3,422,317 | ||
|
|
65,002,790 | ||||
|
Industrials — 1.2% |
|
||||
|
General Dynamics |
14,802 |
|
3,329,118 | ||
|
Information Technology — 12.1% |
|
||||
|
Adobe(A)* |
8,476 |
|
3,530,084 | ||
|
Apple |
43,719 |
|
6,507,136 | ||
|
Broadcom |
5,989 |
|
3,474,399 | ||
|
Intel |
76,797 |
|
3,411,323 | ||
|
International Business Machines(A) |
25,952 |
|
3,603,176 | ||
|
NVIDIA(A) |
35,353 |
|
6,601,111 | ||
|
QUALCOMM |
23,767 |
|
3,403,910 | ||
|
Texas Instruments(A) |
19,843 |
|
3,507,449 | ||
|
|
34,038,588 | ||||
|
Materials — 2.5% |
|
||||
|
Dow |
102,980 |
|
7,000,580 | ||
|
Real Estate — 1.2% |
|
||||
|
Simon Property Group‡ |
29,550 |
|
3,387,908 | ||
|
|
|||||
|
Total
Common Stock |
|
262,849,473 | |||
|
EXCHANGE-TRADED FUND — 6.9% |
|
||||
|
SPDR S&P 500 ETF Trust(A) |
47,183 |
|
19,483,276 | ||
|
Total
Exchange-Traded Fund |
|
19,483,276 | |||
The accompanying notes are an integral part of the financial statements.
1
ETC 6 Meridian
Hedged Equity-Index Option Strategy ETF
Schedule of Investments
May 31, 2022 (Unaudited) (Concluded)
|
Description |
Shares |
Fair Value | ||||
|
SHORT-TERM INVESTMENT — 0.1% |
|
| ||||
|
Invesco Government & Agency, CI Institutional, 2.26%(B) |
287,111 |
$ |
287,111 |
| ||
|
Total Short-Term Investment (Cost $287,111) |
|
287,111 |
| |||
|
Total
Investments — 100.6% |
$ |
282,619,860 |
| |||
|
WRITTEN OPTION(C) — -0.6% |
|
| ||||
|
Total Written Option (Premiums Received |
$ |
(1,547,522 |
) | |||
Percentages are based on Net Assets of $280,897,450.
* Non-income producing security.
(A) All or a portion of these securities has been pledged as collateral on written options with a fair value of $29,446,370.
(B) The rate reported is the 7-day effective yield as of May 31, 2022.
(C) Refer to table below for details on Options Contracts
|
Description |
Number
of |
Notional
|
Exercise
|
Expiration
|
Value | |||||||||||
|
WRITTEN OPTION — (0.6)% |
|
|
|
|
|
| ||||||||||
|
Call Options |
|
|
|
|
|
| ||||||||||
|
S&P 500 Index |
(202 |
) |
$ |
(83,469,430 |
) |
$ |
4,150 |
06/18/22 |
$ |
(1,547,522 |
) | |||||
|
|
|
|
|
|
(1,547,522 |
) | ||||||||||
|
Total Written Option |
|
|
|
|
|
| ||||||||||
|
(Premiums Received $1,335,228) |
|
|
|
|
$ |
(1,547,522 |
) | |||||||||
Cl — Class
ETF — Exchange Traded Fund
PLC — Public Limited Company
SPDR — Standard & Poor’s Depository Receipt
S&P — Standard & Poor’s
As of May 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance under U.S. GAAP.
For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.
The accompanying notes are an integral part of the financial statements.
2
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
May 31, 2022 (Unaudited)
|
Description |
Shares |
Fair Value | |||
|
COMMON STOCK — 99.8% |
|
||||
|
Communication Services — 3.3% |
|
||||
|
ATN International |
16,635 |
$ |
733,437 | ||
|
Cable One |
381 |
|
496,480 | ||
|
Charter Communications, Cl A* |
978 |
|
495,778 | ||
|
Cogent Communications Holdings |
9,570 |
|
577,932 | ||
|
New York Times, Cl A |
14,348 |
|
494,863 | ||
|
Shenandoah Telecommunications |
26,908 |
|
617,808 | ||
|
Verizon Communications |
11,230 |
|
575,987 | ||
|
World Wrestling Entertainment, Cl A |
11,578 |
|
773,063 | ||
|
|
4,765,348 | ||||
|
Consumer Discretionary — 2.8% |
|
||||
|
Dollar General |
2,960 |
|
652,206 | ||
|
Helen of Troy* |
2,942 |
|
544,829 | ||
|
Murphy USA |
3,258 |
|
811,633 | ||
|
Papa John’s International |
4,938 |
|
434,593 | ||
|
Service International |
9,540 |
|
668,086 | ||
|
Standard Motor Products |
12,762 |
|
509,842 | ||
|
Wendy’s |
26,398 |
|
492,060 | ||
|
|
4,113,249 | ||||
|
Consumer Staples — 19.2% |
|
||||
|
Altria Group |
11,928 |
|
645,186 | ||
|
B&G Foods |
19,526 |
|
441,483 | ||
|
BellRing Brands* |
7,294 |
|
190,738 | ||
|
BJ’s Wholesale Club Holdings* |
10,003 |
|
578,874 | ||
|
Boston Beer, Cl A* |
1,428 |
|
507,368 | ||
|
Brown-Forman, Cl B |
8,917 |
|
589,592 | ||
|
Cal-Maine Foods |
14,512 |
|
692,659 | ||
|
Campbell Soup |
319 |
|
15,283 | ||
|
Casey’s General Stores |
3,219 |
|
674,509 | ||
|
Church & Dwight |
5,930 |
|
534,056 | ||
|
Description |
Shares |
Fair Value | |||
|
Consumer Staples (continued) |
|
||||
|
Coca-Cola |
9,821 |
$ |
622,455 | ||
|
Coca-Cola Consolidated |
1,054 |
|
595,478 | ||
|
Colgate-Palmolive |
7,380 |
|
581,618 | ||
|
Conagra Brands |
17,244 |
|
567,155 | ||
|
Edgewell Personal Care |
13,937 |
|
507,307 | ||
|
Flowers Foods |
21,289 |
|
587,576 | ||
|
General Mills |
8,812 |
|
615,518 | ||
|
Grocery Outlet Holding* |
23,725 |
|
907,481 | ||
|
Hain Celestial Group* |
16,170 |
|
426,080 | ||
|
Hershey |
2,954 |
|
625,391 | ||
|
Hormel Foods |
12,746 |
|
620,348 | ||
|
Hostess Brands, Cl A* |
29,333 |
|
623,326 | ||
|
Ingredion |
7,023 |
|
665,008 | ||
|
J & J Snack Foods |
3,991 |
|
511,726 | ||
|
J M Smucker |
4,375 |
|
548,494 | ||
|
John B Sanfilippo & Son |
7,529 |
|
575,065 | ||
|
Kellogg |
9,727 |
|
678,361 | ||
|
Kraft Heinz |
17,234 |
|
651,962 | ||
|
Kroger |
13,378 |
|
708,633 | ||
|
Lancaster Colony |
3,893 |
|
474,557 | ||
|
McCormick |
5,889 |
|
546,028 | ||
|
Mondelez International, Cl A |
8,933 |
|
567,781 | ||
|
National Beverage |
14,067 |
|
698,146 | ||
|
PepsiCo |
3,472 |
|
582,428 | ||
|
Philip Morris International |
5,780 |
|
614,125 | ||
|
Pilgrim’s Pride* |
21,567 |
|
718,613 | ||
|
Post Holdings* |
5,753 |
|
473,069 | ||
|
Procter & Gamble |
3,705 |
|
547,895 | ||
|
Sanderson Farms |
3,297 |
|
657,752 | ||
|
SpartanNash |
23,218 |
|
798,931 | ||
|
Sprouts Farmers Market* |
20,792 |
|
563,255 | ||
|
Tootsie Roll Industries |
18,878 |
|
624,295 | ||
|
TreeHouse Foods* |
16,587 |
|
682,058 | ||
|
Tyson Foods, Cl A |
6,784 |
|
607,914 | ||
|
Universal |
11,744 |
|
747,857 | ||
|
USANA Health Sciences* |
6,485 |
|
456,090 | ||
|
Walmart |
4,293 |
|
552,209 | ||
|
WD-40 |
2,727 |
|
514,830 | ||
|
|
27,916,563 | ||||
|
Energy — 0.5% |
|
||||
|
DT Midstream |
11,700 |
|
679,770 | ||
|
Financials — 7.5% |
|
||||
|
Alleghany* |
871 |
|
726,223 | ||
|
Allstate |
4,903 |
|
670,191 | ||
|
AMERISAFE |
11,571 |
|
583,178 | ||
The accompanying notes are an integral part of the financial statements.
3
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
May 31, 2022 (Unaudited) (Continued)
|
Description |
Shares |
Fair Value | |||
|
Financials (continued) |
|
||||
|
Capitol Federal Financial |
54,756 |
$ |
555,773 | ||
|
Cboe Global Markets |
4,976 |
|
558,855 | ||
|
Ellington Financial‡ |
36,981 |
|
572,836 | ||
|
Employers Holdings |
15,488 |
|
641,358 | ||
|
Encore Capital Group* |
9,053 |
|
553,229 | ||
|
FirstCash Holdings |
8,580 |
|
640,497 | ||
|
Hanover Insurance Group |
4,249 |
|
622,903 | ||
|
Hartford Financial Services Group |
8,494 |
|
615,900 | ||
|
Horace Mann Educators |
15,074 |
|
609,894 | ||
|
KKR Real Estate Finance Trust‡ |
28,404 |
|
580,009 | ||
|
Mercury General |
11,389 |
|
557,492 | ||
|
PRA Group* |
13,213 |
|
488,881 | ||
|
Progressive |
5,487 |
|
655,038 | ||
|
RenaissanceRe Holdings |
3,871 |
|
594,276 | ||
|
Safety Insurance Group |
6,968 |
|
647,048 | ||
|
|
10,873,581 | ||||
|
Health Care — 21.6% |
|
||||
|
AbbVie |
4,254 |
|
626,912 | ||
|
Allscripts Healthcare Solutions* |
29,032 |
|
496,157 | ||
|
AmerisourceBergen, Cl A |
4,382 |
|
678,290 | ||
|
Amgen |
2,692 |
|
691,144 | ||
|
AMN Healthcare Services* |
5,768 |
|
558,919 | ||
|
Amphastar Pharmaceuticals* |
23,922 |
|
888,463 | ||
|
Anika Therapeutics* |
19,959 |
|
433,909 | ||
|
Anthem |
1,336 |
|
680,839 | ||
|
Baxter International |
6,901 |
|
524,821 | ||
|
Becton Dickinson |
2,221 |
|
568,132 | ||
|
Bristol-Myers Squibb |
9,216 |
|
695,347 | ||
|
Bruker |
8,849 |
|
552,886 | ||
|
Cardinal Health |
11,524 |
|
649,032 | ||
|
Centene* |
7,428 |
|
604,936 | ||
|
Cerner |
6,543 |
|
620,604 | ||
|
Chemed |
1,278 |
|
619,063 | ||
|
Cigna |
2,701 |
|
724,651 | ||
|
Collegium Pharmaceutical* |
33,000 |
|
515,460 | ||
|
Computer Programs and Systems* |
21,604 |
|
688,951 | ||
|
CorVel* |
3,993 |
|
595,596 | ||
|
CVS Health |
5,515 |
|
533,576 | ||
|
DaVita* |
5,474 |
|
533,660 | ||
|
Eagle Pharmaceuticals* |
13,433 |
|
627,321 | ||
|
Encompass Health |
9,939 |
|
651,402 | ||
|
Gilead Sciences |
9,374 |
|
607,904 | ||
|
HealthStream* |
25,137 |
|
512,041 | ||
|
Humana |
1,393 |
|
632,742 | ||
|
ICU Medical* |
2,819 |
|
512,043 | ||
|
Description |
Shares |
Fair Value | |||
|
Health Care (continued) |
|
||||
|
Innoviva* |
38,301 |
$ |
581,026 | ||
|
Jazz Pharmaceuticals* |
4,246 |
|
635,541 | ||
|
Johnson & Johnson |
3,489 |
|
626,380 | ||
|
Laboratory Corp of America Holdings |
2,155 |
|
531,682 | ||
|
LivaNova* |
8,167 |
|
555,928 | ||
|
Masimo* |
2,690 |
|
377,757 | ||
|
Merck |
7,625 |
|
701,729 | ||
|
Meridian Bioscience* |
24,979 |
|
686,922 | ||
|
Mesa Laboratories |
2,223 |
|
465,163 | ||
|
Molina Healthcare* |
2,000 |
|
580,440 | ||
|
Neurocrine Biosciences* |
7,378 |
|
689,769 | ||
|
Omnicell* |
3,943 |
|
438,304 | ||
|
OraSure Technologies* |
88,116 |
|
365,681 | ||
|
Orthofix Medical* |
19,794 |
|
544,137 | ||
|
Pacira BioSciences* |
9,302 |
|
588,352 | ||
|
Perrigo PLC |
16,325 |
|
650,715 | ||
|
Pfizer |
11,301 |
|
599,405 | ||
|
Prestige Consumer Healthcare* |
10,267 |
|
573,104 | ||
|
Quest Diagnostics |
4,462 |
|
629,231 | ||
|
QuidelOrtho* |
6,059 |
|
575,786 | ||
|
Repligen* |
2,979 |
|
489,956 | ||
|
Supernus Pharmaceuticals* |
19,361 |
|
539,591 | ||
|
Syneos Health, Cl A* |
6,664 |
|
492,403 | ||
|
Tandem Diabetes Care* |
5,109 |
|
348,281 | ||
|
United Therapeutics* |
2,970 |
|
684,110 | ||
|
Vertex Pharmaceuticals* |
2,473 |
|
664,371 | ||
|
|
31,640,565 | ||||
|
Industrials — 9.0% |
|
||||
|
3M |
3,723 |
|
555,807 | ||
|
Aerojet Rocketdyne Holdings* |
16,166 |
|
658,603 | ||
|
CACI International, Cl A* |
2,357 |
|
660,832 | ||
|
CH Robinson Worldwide |
6,751 |
|
732,551 | ||
|
Forrester Research* |
11,246 |
|
588,503 | ||
|
FTI Consulting* |
4,063 |
|
682,584 | ||
|
Heartland Express |
41,508 |
|
592,734 | ||
|
Knight-Swift Transportation Holdings, Cl A |
10,737 |
|
522,248 | ||
|
L3Harris Technologies |
2,807 |
|
676,206 | ||
|
Lockheed Martin |
1,532 |
|
674,249 | ||
|
ManTech International, Cl A |
7,414 |
|
709,148 | ||
|
Marten Transport |
35,973 |
|
631,686 | ||
|
MDU Resources Group |
21,002 |
|
575,035 | ||
|
Northrop Grumman |
1,617 |
|
756,707 | ||
|
NV5 Global* |
5,896 |
|
726,269 | ||
|
Science Applications International |
7,214 |
|
624,444 | ||
|
Stericycle* |
10,273 |
|
519,300 | ||
The accompanying notes are an integral part of the financial statements.
4
ETC 6 Meridian
Low Beta Equity Strategy ETF
Schedule of Investments
May 31, 2022 (Unaudited) (Continued)
|
Description |
Shares |
Fair Value | |||
|
Industrials (continued) |
|
||||
|
Toro |
6,236 |
$ |
514,408 | ||
|
UniFirst |
3,312 |
|
541,313 | ||
|
Waste Management |
4,124 |
||||