AMPLIFY ETF TRUST

Amplify High Income ETF YYY

Amplify Online Retail ETF IBUY

Amplify CWP Enhanced Dividend Income ETF DIVO

Amplify Transformational Data Sharing ETF BLOK

Amplify Lithium & Battery Technology ETF BATT

Amplify BlackSwan Growth & Treasury Core ETF SWAN

Amplify Emerging Markets FinTech ETF EMFQ

Amplify Seymour Cannabis ETF CNBS

Amplify BlackSwan ISWN ETF ISWN

Amplify Thematic All-Stars ETF MVPS

Amplify Digital & Online Trading ETF BIDS

Amplify BlackSwan Tech & Treasury ETF QSWN

Amplify Inflation Fighter ETF IWIN

Amplify Natural Resources Dividend Income ETF NDIV

Amplify International Enhanced Dividend Income ETF IDVO

    

SEMI-ANNUAL REPORT

April 30, 2023

 

  

Amplify ETF Trust

Table of Contents

  

SCHEDULES OF INVESTMENTS

 

2

STATEMENTS OF ASSETS AND LIABILITIES

 

30

STATEMENTS OF OPERATIONS

 

33

STATEMENTS OF CHANGES IN NET ASSETS

 

36

FINANCIAL HIGHLIGHTS

 

51

NOTES TO THE FINANCIAL STATEMENTS

 

66

BOARD CONSIDERATIONS REGARDING APPROVAL OF INVESTMENT MANAGEMENT AGREEMENT AND SUB-ADVISORY AGREEMENT

 

94

REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM

 

109

DISCLOSURE OF FUND EXPENSES

 

110

ADDITIONAL INFORMATION

 

112

SUPPLEMENTAL INFORMATION

 

114

PRIVACY POLICY

 

115

Amplify ETF Trust (the “Trust”) files its complete schedule of fund holdings with the Securities and Exchange Commission (the “Commission”) for the first and third quarters of each fiscal year on Part F of Form N-PORT within sixty days after the end of the period. The Trust’s Part F of Form N-PORT is available on the Commission’s website at www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

A description of the policies and procedures that Amplify Investments LLC (the “Adviser”) uses to determine how to vote proxies relating to portfolio securities, as well as information relating to how a fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-855-267-3837 and (ii) on the Commission’s website at www.sec.gov.

1

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

April 30, 2023 (Unaudited)

Description

 

Shares

 

Value

INVESTMENT COMPANIES — 99.3%

     

 

 

Equity — 8.6%

     

 

 

Kayne Anderson Energy Infrastructure Fund(a)

 

1,160,735

 

$

9,750,174

Liberty All-Star Equity Fund

 

1,818,036

 

 

10,980,937

MainStay CBRE Global Infrastructure Megatrends Fund

 

615,970

 

 

8,900,766

       

 

29,631,877

Fixed Income — 90.7%

     

 

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

3,685,556

 

 

10,024,712

AllianceBernstein Global High Income Fund, Inc.

 

518,919

 

 

5,132,109

BlackRock Capital Allocation Term Trust

 

343,554

 

 

5,194,536

BlackRock Credit Allocation Income Trust

 

441,847

 

 

4,604,046

BlackRock MuniHoldings California Quality Fund, Inc.

 

225,080

 

 

2,442,118

Blackstone Strategic Credit 2027 Term Fund

 

948,574

 

 

10,178,199

ClearBridge MLP & Midstream Fund, Inc.

 

300,569

 

 

9,921,783

Cohen & Steers Limited Duration Preferred and Income Fund, Inc.

 

207,735

 

 

3,656,136

Cohen & Steers Quality Income Realty Fund, Inc.

 

196,827

 

 

2,306,812

DoubleLine Income Solutions Fund(a)

 

970,041

 

 

11,388,281

DoubleLine Yield Opportunities Fund

 

762,858

 

 

10,580,840

Eaton Vance Limited Duration Income Fund

 

305,270

 

 

2,854,275

First Trust High Yield Opportunities 2027 Term Fund

 

507,726

 

 

7,169,091

First Trust Intermediate Duration Preferred & Income Fund

 

478,178

 

 

7,497,831

Flaherty & Crumrine Preferred and Income Securities Fund, Inc.

 

106,321

 

 

1,494,873

FS Credit Opportunities Corp.

 

1,777,657

 

 

7,697,255

Guggenheim Active Allocation
Fund/DE

 

296,869

 

 

4,197,728

Highland Income Fund

 

784,035

 

 

6,766,222

Invesco Senior Income Trust

 

2,850,396

 

 

10,660,481

Description

 

Shares

 

Value

Nuveen AMT-Free Municipal Credit Income Fund

 

455,159

 

$

5,370,876

Nuveen AMT-Free Quality Municipal Income Fund

 

282,931

 

 

3,143,363

Nuveen California Quality Municipal Income Fund

 

773,685

 

 

8,440,903

Nuveen Credit Strategies Income Fund

 

2,002,173

 

 

10,171,039

Nuveen Floating Rate Income Fund

 

1,221,753

 

 

9,920,634

Nuveen Municipal Credit
Income Fund

 

512,152

 

 

5,976,814

Nuveen New York AMT-Free Quality Municipal Income Fund

 

544,946

 

 

5,656,540

Nuveen Preferred & Income Opportunities Fund

 

1,201,726

 

 

7,703,064

Nuveen Preferred & Income Securities Fund(a)

 

1,469,393

 

 

9,506,973

Nuveen Quality Municipal
Income Fund

 

303,687

 

 

3,483,290

Oxford Lane Capital Corp.(a)

 

2,391,024

 

 

12,433,325

PGIM Global High Yield Fund, Inc.(a)

 

912,650

 

 

10,093,909

PIMCO Access Income Fund

 

728,291

 

 

10,472,825

PIMCO Corporate & Income Opportunity Fund

 

800,018

 

 

10,456,235

PIMCO Corporate & Income Strategy Fund

 

185,128

 

 

2,373,341

Pimco Dynamic Income Fund

 

645,779

 

 

11,617,564

PIMCO Dynamic Income Opportunities Fund

 

857,850

 

 

10,920,431

PIMCO High Income Fund

 

1,806,334

 

 

8,598,150

PIMCO Income Strategy Fund II

 

1,074,037

 

 

7,539,740

Thornburg Income Builder Opportunities Trust(a)

 

703,058

 

 

11,038,011

Western Asset Diversified Income Fund(a)

 

764,358

 

 

10,196,536

Western Asset Emerging Markets Debt Fund, Inc.

 

1,113,808

 

 

9,656,715

Western Asset Inflation-Linked Opportunities & Income Fund

 

674,954

 

 

6,223,076

       

 

314,760,682

Total Investment Companies
(Cost $412,211,636)

     

 

344,392,559

       

 

 

MONEY MARKET FUNDS — 0.3%

     

 

 

Invesco Government & Agency Portfolio - Institutional
Class — 4.78%(b)

 

1,073,233

 

 

1,073,233

Total Money Market Funds
(Cost $1,073,233)

     

 

1,073,233

The accompanying notes are an integral part of the financial statements.

2

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

April 30, 2023 (Unaudited) (Continued)

Description

 

Shares

 

Value

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 3.7%

     

 

 

First American Government Obligations Fund - Class X — 4.66%(b)

 

12,841,369

 

$

12,841,369

Total Investments Purchased with Proceeds from Securities Lending
(Cost $12,841,369)

     

 

12,841,369

       

 

 

Total Investments 103.3%
(Cost $426,126,238)

     

$

358,307,161

Percentages are based on Net Assets of $346,970,856.

(a)   All or a portion of this security is out on loan as of April 30, 2023. Total value of securities out on loan is $12,683,771 or 3.7% of net assets.

(b)  Seven-day yield as of April 30, 2023.

The accompanying notes are an integral part of the financial statements.

3

Amplify ETF Trust

Amplify Online Retail ETF

Schedule of Investments

April 30, 2023 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 99.6%

     

 

 

Marketplace — 38.4%

     

 

 

Affirm Holdings, Inc.(a)(b)

 

264,796

 

$

2,610,889

Alibaba Group Holding Ltd.(b)

 

218,700

 

 

2,286,004

BigCommerce Holdings, Inc.(b)

 

333,142

 

 

2,461,919

Copart, Inc.(b)

 

77,858

 

 

6,154,675

Coupang, Inc.(b)

 

101,761

 

 

1,705,514

Delivery Hero SE(b)(c)

 

54,695

 

 

2,177,506

DoorDash, Inc. - Class A(b)

 

92,715

 

 

5,673,231

Etsy, Inc.(b)

 

44,130

 

 

4,458,454

Fiverr International Ltd.(b)

 

61,992

 

 

2,263,948

Global-e Online Ltd.(b)

 

77,696

 

 

2,166,164

JD.com, Inc. - Class A

 

90,250

 

 

1,562,487

Jumia Technologies AG - ADR(a)(b)

 

365,489

 

 

1,030,679

Just Eat Takeaway.com NV(b)(c)

 

104,281

 

 

1,824,734

KE Holdings, Inc. - ADR(b)

 

162,742

 

 

2,553,422

Liquidity Services, Inc.(b)

 

257,836

 

 

3,369,917

Lyft, Inc. - Class A(b)

 

321,730

 

 

3,297,733

Meituan - Class B(b)(c)

 

97,500

 

 

1,651,985

MercadoLibre, Inc.(b)

 

2,015

 

 

2,574,142

Ozon Holdings PLC - ADR(a)(b)(d)

 

106,678

 

 

PayPal Holdings, Inc.(b)

 

57,665

 

 

4,382,540

PDD Holdings, Inc. - ADR(b)

 

30,795

 

 

2,098,679

Sea Ltd. - ADR(b)

 

38,272

 

 

2,915,178

Shopify, Inc. - Class A(b)

 

51,997

 

 

2,519,255

Uber Technologies, Inc.(b)

 

153,643

 

 

4,770,615

Upwork, Inc.(b)

 

335,676

 

 

3,212,419

Vivid Seats, Inc. - Class A(a)(b)

 

538,308

 

 

3,865,051

       

 

73,587,140

Traditional Retail — 48.5%

     

 

 

1-800-Flowers.com, Inc. - Class A(b)

 

541,610

 

 

4,988,228

Amazon.com, Inc.(b)

 

49,432

 

 

5,212,604

ASKUL Corp.

 

168,200

 

 

2,232,050

Description

 

Shares

 

Value

ASOS PLC(b)

 

259,429

 

$

2,402,253

Carvana Co.(a)(b)

 

307,605

 

 

2,134,779

Chegg, Inc.(b)

 

172,765

 

 

3,106,315

Chewy, Inc. - Class A(a)(b)

 

124,519

 

 

3,861,334

eBay, Inc.

 

113,710

 

 

5,279,555

Farfetch Ltd. - Class A(a)(b)

 

221,229

 

 

891,553

Figs, Inc. - Class A(b)

 

668,806

 

 

4,815,403

HelloFresh SE(b)

 

86,605

 

 

2,312,279

IAC, Inc.(b)

 

97,099

 

 

5,026,815

Lands’ End, Inc.(b)

 

430,648

 

 

3,087,746

Netflix, Inc.(b)

 

16,407

 

 

5,413,162

Ocado Group PLC(b)

 

246,031

 

 

1,562,082

Oisix ra daichi, Inc.(a)(b)

 

159,600

 

 

2,963,690

Overstock.com, Inc.(b)

 

208,214

 

 

4,239,237

Peloton Interactive, Inc. - Class A(b)

 

472,604

 

 

4,196,724

PetMed Express, Inc.

 

206,268

 

 

3,170,339

Revolve Group, Inc.(b)

 

191,837

 

 

3,961,434

Shutterstock, Inc.

 

96,232

 

 

6,447,544

Spotify Technology SA(b)

 

24,462

 

 

3,268,123

Vipshop Holdings Ltd. - ADR(b)

 

231,750

 

 

3,638,475

Wayfair, Inc. - Class A(a)(b)

 

117,838

 

 

4,104,298

Zalando SE(b)(c)

 

72,736

 

 

2,979,105

ZOZO, Inc.

 

81,800

 

 

1,714,711

       

 

93,009,838

Travel — 12.7%

     

 

 

Airbnb, Inc. - Class A(b)

 

47,970

 

 

5,740,570

Booking Holdings, Inc.(b)

 

2,419

 

 

6,498,184

Expedia Group, Inc.(b)

 

50,373

 

 

4,733,047

MakeMyTrip Ltd.(b)

 

64,287

 

 

1,506,887

Trip.com Group Ltd.(b)

 

69,100

 

 

2,419,048

TripAdvisor, Inc.(b)

 

190,511

 

 

3,377,760

       

 

24,275,496

Total Common Stocks
(Cost $372,079,227)

     

 

190,872,474

       

 

 

MONEY MARKET FUNDS — 0.4%

     

 

 

Invesco Government & Agency Portfolio - Institutional
Class — 4.78%(e)

 

764,416

 

 

764,416

Total Money Market Funds
(Cost $764,416)

     

 

764,416

The accompanying notes are an integral part of the financial statements.

4

Amplify ETF Trust

Amplify Online Retail ETF

Schedule of Investments

April 30, 2023 (Unaudited) (Continued)

Description

 

Shares

 

Value

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 7.3%

     

 

 

First American Government Obligations Fund - Class X — 4.66%(e)

 

13,898,713

 

$

13,898,713

Total Investments Purchased with Proceeds from Securities Lending
(Cost $13,898,713)

     

 

13,898,713

       

 

 

Total Investments — 107.3%
(Cost $386,742,356)

     

$

205,535,603

Percentages are based on Net Assets of $191,589,228.

ADR - American Depositary Receipt

(a) All or a portion of this security is out on loan as of April 30, 2023. Total value of the securities out on loan is $11,439,816 or 6.0% of net assets.

(b)  Non-income producing security.

(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 April 30, 2023, the value of these securities amounted to $8,633,330 or 4.5% of net assets.

(d)  Illiquid security. At April 30, 2023, the value of this security amounted to $0 or 0.0% of net assets. The Fund has fair valued this security. Value determined using significant unobservable inputs.

(e)  Seven-day yield as of April 30, 2023.

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 accompanying notes are an integral part of the financial statements.

5

Amplify ETF Trust

Amplify CWP Enhanced Dividend Income ETF

Schedule of Investments

April 30, 2023 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 86.5%

     

 

 

Communication Services — 1.9%

     

 

 

Verizon Communications, Inc.

 

1,445,828

 

$

56,141,501

Consumer Discretionary — 8.1%

     

 

 

McDonald’s Corp.(a)

 

504,554

 

 

149,221,845

The Home Depot, Inc.

 

292,703

 

 

87,968,960

       

 

237,190,805

Consumer Staples — 8.6%

     

 

 

General Mills, Inc.

 

1,054,835

 

 

93,490,026

The Procter & Gamble Co.

 

997,283

 

 

155,955,116

       

 

249,445,142

Energy — 10.9%

     

 

 

Chevron Corp.

 

887,052

 

 

149,539,226

Marathon Petroleum Corp.

 

686,240

 

 

83,721,280

Schlumberger NV

 

1,696,586

 

 

83,726,519

       

 

316,987,025

Financials — 15.1%

     

 

 

JPMorgan Chase & Co.(a)

 

1,032,557

 

 

142,740,680

The Goldman Sachs Group, Inc.(a)

 

414,874

 

 

142,484,326

Visa, Inc. - Class A

 

662,796

 

 

154,252,513

       

 

439,477,519

Health Care — 14.2%

     

 

 

Johnson & Johnson(a)

 

898,040

 

 

147,009,148

Merck & Co., Inc.

 

1,006,244

 

 

116,190,995

UnitedHealth Group, Inc.

 

307,281

 

 

151,209,907

       

 

414,410,050

Industrials — 9.6%

     

 

 

Deere & Co.

 

214,023

 

 

80,904,975

Lockheed Martin Corp.(a)

 

235,461

 

 

109,359,861

United Parcel Service, Inc. - Class B

 

488,438

 

 

87,826,037

       

 

278,090,873

Description

 

Shares

 

Value

Information Technology — 10.1%

     

 

 

Apple, Inc.

 

693,638

 

$

117,696,496

Microsoft Corp.(a)

 

571,398

 

 

175,567,749

       

 

293,264,245

Materials — 5.2%

     

 

 

Dow, Inc.(a)

 

966,732

 

 

52,590,221

Nucor Corp.(a)

 

669,905

 

 

99,266,523

       

 

151,856,744

Utilities — 2.8%

     

 

 

Duke Energy Corp.

 

830,647

 

 

82,134,375

Total Common Stocks
(Cost $2,361,804,051)

     

 

2,518,998,279

       

 

 

MONEY MARKET FUNDS — 14.3%

     

 

 

Invesco Government & Agency Portfolio - Institutional
Class — 4.78%(b)

 

417,753,520

 

 

417,753,520

Total Money Market Funds
(Cost $417,753,520)

     

 

417,753,520

       

 

 

Total Investments — 100.8%
(Cost $2,779,557,571)

     

$

2,936,751,799

Percentages are based on Net Assets of $2,914,064,661.

(a)   All or portion of this security is held as collateral for the options written. At April 30, 2023, the value of these securities amounted to $459,843,440 or 15.8% of net assets.

(b)  Seven-day yield as of April 30, 2023.

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

The accompanying notes are an integral part of the financial statements.

6

Amplify ETF Trust

Amplify CWP Enhanced Dividend Income ETF

Schedule of Options Written

April 30, 2023 (Unaudited)

 

Contracts

 

Notional
Amount

 

Value

Call Options Written(a) — (0.1)%

     

 

 

 

 

 

 

 

DOW, Inc., Expires 5/19/2023, Strike Price $57.50

 

1,501

 

$

(8,165,440

)

 

$

(28,519

)

Johnson & Johnson, Expires 5/19/2023, Strike Price $175.00

 

2,000

 

 

(32,740,000

)

 

 

(8,000

)

JPMorgan Chase & Co., Expires 5/12/2023, Strike Price $143.00

 

7,625

 

 

(105,408,000

)

 

 

(247,812

)

Lockheed Martin Corp., Expires 5/19/2023, Strike Price $530.00

 

600

 

 

(27,867,000

)

 

 

(4,500

)

McDonald’s Corp., Expires 5/5/2023, Strike Price $300.00

 

2,500

 

 

(73,937,500

)

 

 

(90,000

)

Microsoft Corp., Expires 5/19/2023, Strike Price $320.00

 

3,000

 

 

(92,178,000

)

 

 

(436,500

)

Nucor Corp., Expires 5/12/2023, Strike Price $152.50

 

5,750

 

 

(85,203,500

)

 

 

(1,121,250

)

The Goldman Sachs Group, Inc., Expires 5/19/2023, Strike Price $370.00

 

1,000

 

 

(34,344,000

)

 

 

(28,500

)

Total Call Options Written
(Premiums Received $4,303,353)

     

 

 

 

 

$

(1,965,081

)

(a)   Exchange Traded.

The accompanying notes are an integral part of the financial statements.

7

Amplify ETF Trust

Amplify Transformational Data Sharing ETF

Schedule of Investments

April 30, 2023 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 92.8%

     

 

 

Banks — 7.0%

     

 

 

Customers Bancorp, Inc.(a)

 

572,996

 

$

12,514,233

DBS Group Holdings Ltd.

 

130,000

 

 

3,197,512

New York Community Bancorp, Inc.

 

655,608

 

 

7,008,449

NU Holdings Ltd. - Class A(a)

 

1,852,358

 

 

9,558,167

       

 

32,278,361

Consumer Discretionary Distribution — 3.5%

     

 

 

Overstock.com, Inc.(a)

 

795,585

 

 

16,198,111

Consumer Staples Distribution — 0.7%

     

 

 

Walmart, Inc.

 

22,824

 

 

3,445,739

Financial Services — 26.9%

     

 

 

Block, Inc.(a)

 

211,305

 

 

12,845,231

CME Group, Inc.

 

74,187

 

 

13,781,719

Coinbase Global, Inc. - Class A(a)(b)

 

297,027

 

 

15,977,082

Galaxy Digital Holdings Ltd.(a)(b)

 

4,692,923

 

 

17,318,976

Mastercard, Inc. - Class A

 

20,000

 

 

7,600,600

Mogo, Inc.(a)(b)(c)

 

4,361,566

 

 

2,966,301

PayPal Holdings, Inc.(a)

 

186,266

 

 

14,156,216

Robinhood Markets, Inc. - Class A(a)

 

420,093

 

 

3,717,823

SBI Holdings, Inc.

 

858,013

 

 

16,669,679

Visa, Inc. - Class A

 

29,237

 

 

6,804,327

WisdomTree, Inc.

 

1,976,689

 

 

12,334,540

       

 

124,172,494

Media & Entertainment — 3.3%

     

 

 

ROBLOX Corp. - Class A(a)

 

200,414

 

 

7,134,738

Z Holdings Corp.

 

2,960,885

 

 

8,053,903

       

 

15,188,641

Description

 

Shares

 

Value

Semiconductors & Semiconductor Equipment — 3.4%

 

 

   

 

 

Advanced Micro Devices, Inc.(a)

 

 

88,523

 

$

7,911,301

Taiwan Semiconductor Manufacturing Co. Ltd. - ADR

 

 

89,765

 

 

7,567,190

   

 

   

 

15,478,491

Software & Services — 44.2%

 

 

   

 

 

Accenture PLC - Class A

 

 

62,275

 

 

17,455,060

BIGG Digital Assets, Inc.(a)(b)

 

 

4,743,905

 

 

1,032,920

Bitfarms Ltd.(a)(b)

 

 

4,208,310

 

 

4,881,640

Bitfarms Ltd.(a)(b)

 

 

8,455,401

 

 

9,985,343

Cleanspark, Inc.(a)

 

 

3,971,237

 

 

15,527,537

Digital Garage, Inc.

 

 

467,962

 

 

16,417,911

GMO internet group, Inc.

 

 

1,055,692

 

 

21,091,369

Hive Blockchain Technologies Ltd.(a)

 

 

999,022