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Annual Report
August 31, 2022
Avantis® Responsible Emerging Markets Equity ETF (AVSE)
Avantis® Responsible International Equity ETF (AVSD)




























Table of Contents

Chairman’s Letter
Avantis Responsible Emerging Markets Equity ETF
Performance
Portfolio Commentary
Fund Characteristics
Avantis Responsible International Equity ETF
Performance
Portfolio Commentary
Fund Characteristics
Shareholder Fee Examples
Schedules of Investments
Statements of Assets and Liabilities
Statements of Operations
Statements of Changes in Net Assets
Notes to Financial Statements
Financial Highlights
Report of Independent Registered Public Accounting Firm
Management
Approval of Management Agreement
Additional Information



















Any opinions expressed in this report reflect those of the author as of the date of the report, and do not necessarily represent the opinions of American Century Investments® or any other person in the American Century Investments organization. Any such opinions are subject to change at any time based upon market or other conditions and American Century Investments disclaims any responsibility to update such opinions. These opinions may not be relied upon as investment advice and, because investment decisions made by American Century Investments funds are based on numerous factors, may not be relied upon as an indication of trading intent on behalf of any American Century Investments fund. Security examples are used for representational purposes only and are not intended as recommendations to purchase or sell securities. Performance information for comparative indices and securities is provided to American Century Investments by third party vendors. To the best of American Century Investments’ knowledge, such information is accurate at the time of printing.


Chairman's Letter

jthomasrev0514a66.jpg Jonathan Thomas

Dear Investor:

Thank you for reviewing this annual report for the period ended August 31, 2022. Annual reports
help convey important information about fund returns, including market factors that affected
performance. For additional investment insights, please visit avantisinvestors.com.

Mounting Market Challenges Hampered Performance

Asset class performance weakened dramatically during the funds' fiscal year. In late 2021,
generally upbeat economic activity and corporate earnings supported gains for most U.S. and
global stock indices. Returns generally remained positive despite rapidly rising inflation and waning
central bank support—factors that had started to weigh on fixed-income indices.

By early 2022, the market climate shifted quickly. Inflation, which was already at multiyear highs,
rose to levels last seen in the early 1980s. Massive fiscal and monetary support unleashed during
the pandemic was partly to blame. In addition, escalating energy prices, supply chain breakdowns
and labor market shortages further aggravated inflation in the U.S. and other developed markets.
Russia’s invasion of Ukraine in February also exacerbated global inflationary pressures.

The Bank of England launched its inflation-fighting campaign in December and continued to lift
rates through period-end. The Federal Reserve responded to surging inflation in March, launching
an aggressive rate-hike campaign and ending its asset purchase program. Policymakers indicated
taming inflation remains their priority, even as the U.S. economy contracted in 2022’s first two
quarters. Facing record-high inflation in the eurozone, the European Central Bank in July embarked
on its first rate-hike effort in 11 years.

The combination of sharply elevated inflation, tighter monetary policy, geopolitical strife and weak
economies triggered sharp market volatility and fueled global recession fears. Against this
backdrop, most U.S. and global stock and bond indices declined sharply for the reporting period.

Staying Disciplined in Uncertain Times

We expect market volatility to linger as investors navigate a complex environment of high inflation,
rising interest rates and economic uncertainty. In addition, Russia’s invasion of Ukraine
complicates an increasingly tense geopolitical backdrop and threatens Europe’s winter energy
supply. We will continue to monitor the broad backdrop and its influence on financial markets.

We appreciate your confidence in us during these extraordinary times. Our firm has a long history
of helping clients weather unpredictable markets, and we’re confident we will continue to meet
today’s challenges.

Sincerely,
image48a16.jpg
Jonathan Thomas
Chairman
Avantis Investors
2

Performance
Avantis Responsible Emerging Markets Equity ETF (AVSE)
Total Returns as of August 31, 2022  
  Since Inception Inception Date
Net Asset Value -12.04% 3/28/2022
Market Price -11.99% 3/28/2022
MSCI Emerging Markets IMI Index -9.99% —
Market price is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the net asset value (NAV) is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the NYSE Arca, Inc.


Total Annual Fund Operating Expenses
0.33%
The total annual fund operating expenses shown is as stated in the fund’s prospectus current as of the date of this report. The prospectus may vary from the expense ratio shown elsewhere in this report because it is based on a different time period, includes acquired fund fees and expenses, and, if applicable, does not include fee waivers or expense reimbursements.




























Data presented reflect past performance. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Total returns for periods less than one year are not annualized. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. Data assumes reinvestment of dividends and capital gains, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain performance data current to the most recent month end, please call 1-833-928-2684 or visit avantisinvestors.com. For additional information about the funds, please consult the prospectus.
3

Portfolio Commentary

Portfolio Managers: Eduardo Repetto, Mitch Firestein, Daniel Ong, Ted Randall and Matthew Dubin

Fund Strategy

Avantis Responsible Emerging Markets Equity ETF seeks long-term capital appreciation by investing in a diverse group of companies related to emerging markets across market sectors, industry groups, countries and market capitalizations.

The fund limits its investable universe of companies by screening out companies that do not meet certain environmental, social and governance (ESG) metrics. The fund uses third-party commercial data sources and scoring systems and proprietary evaluations to decide which securities to exclude due to ESG concerns. Within the investable universe, the fund seeks securities of companies that it expects to have higher returns. It places an enhanced emphasis on securities of companies with smaller market capitalizations and securities of companies it defines as high profitability or value companies. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns. These include securities of large companies with lower levels of profitability and higher prices relative to their book values or other financial metrics. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of companies related to emerging markets countries.

The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. The portfolio managers continually analyze market and financial data to make buy, sell and hold decisions. When buying or selling a security, the portfolio managers may consider the trade-off between expected returns of the security and implementation or tax costs of the trade. They do this in an attempt to gain trading efficiencies, avoid unnecessary risk and enhance fund performance.

Performance Review

For the period from the fund’s inception on March 28, 2022, through August 31, 2022, Avantis Responsible Emerging Markets Equity ETF returned -11.99%* on a market price basis. On a net asset value (NAV) basis, the fund returned -12.04%. NAV and market price returns reflect fees and operating expenses, while index returns do not.

The fund underperformed the broad emerging markets stock universe, as measured by the MSCI Emerging Markets IMI Index, which returned -9.99% for the reporting period. The MSCI Emerging Markets IMI Index is an unmanaged index generally representative of the performance of emerging markets stocks across capitalization categories.

The underperformance was largely due to the fund’s environmental screen, which resulted in an underweight to the energy sector. The energy sector outperformed for the reporting period. An underweight to China also detracted, as China was among the better performing emerging markets countries.









*Total returns for periods less than one year are not annualized.

A strategy or emphasis on environmental, social and governance factors (ESG) may limit the investment opportunities available to a portfolio. Therefore, the portfolio may underperform or perform differently than other portfolios that do not have an ESG investment focus. A portfolio’s ESG investment focus may also result in the portfolio investing in securities or industry sectors that perform differently or maintain a different risk profile than the market generally or compared to underlying holdings that are not screened for ESG standards.
4

Fund Characteristics
AUGUST 31, 2022
Avantis Responsible Emerging Markets Equity ETF
Types of Investments in Portfolio % of net assets
Common Stocks 99.9%
Rights
—*
Warrants
—*
Short-Term Investments 0.1%
Other Assets and Liabilities
—*
*Category is less than 0.05% of total net assets.
Top Five Countries % of net assets
China 29.0%
India 17.3%
Taiwan 17.1%
South Korea 13.4%
Brazil 6.2%

5

Performance
Avantis Responsible International Equity ETF (AVSD)
Total Returns as of August 31, 2022  
  Since Inception Inception Date
Net Asset Value -10.66% 3/15/2022
Market Price -10.54% 3/15/2022
MSCI World ex-USA IMI Index -9.31% —
Market price is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the net asset value (NAV) is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. NAV prices are used to calculate market price performance prior to the date when the fund first traded on the NYSE Arca, Inc.


Total Annual Fund Operating Expenses
0.23%
The total annual fund operating expenses shown is as stated in the fund’s prospectus current as of the date of this report. The prospectus may vary from the expense ratio shown elsewhere in this report because it is based on a different time period, includes acquired fund fees and expenses, and, if applicable, does not include fee waivers or expense reimbursements.




























Data presented reflect past performance. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Total returns for periods less than one year are not annualized. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. Data assumes reinvestment of dividends and capital gains, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain performance data current to the most recent month end, please call 1-833-928-2684 or visit avantisinvestors.com. For additional information about the funds, please consult the prospectus.
6

Portfolio Commentary

Portfolio Managers: Eduardo Repetto, Mitch Firestein, Daniel Ong, Ted Randall and Matthew Dubin

Fund Strategy

Avantis Responsible International Equity ETF seeks long-term capital appreciation by investing in a diverse group of non-U.S. companies across countries, market sectors, industry groups and market capitalizations.

The fund limits its investable universe of companies by screening out companies that do not meet certain environmental, social and governance (ESG) metrics. The fund uses third-party commercial data sources and scoring systems and proprietary evaluations to decide which securities to exclude due to ESG concerns. Within the investable universe, the fund seeks securities of companies that it expects to have higher returns. It places an emphasis on the securities of companies with smaller market capitalizations and securities of companies it defines as high profitability or value companies. Conversely, the fund seeks to underweight or exclude securities it expects to have lower returns. These include securities of large companies with lower levels of profitability and higher prices relative to their book values or other financial metrics. Under normal market conditions, the fund will invest at least 80% of its assets in equity securities.

The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. The portfolio managers continually analyze market and financial data to make buy, sell and hold decisions. When buying or selling a security, the portfolio managers may consider the trade-off between expected returns of the security and implementation or tax costs of the trade. They do this in an attempt to gain trading efficiencies, avoid unnecessary risk and enhance fund performance.

Performance Review

For the period from the fund’s inception on March 15, 2022, through August 31, 2022, Avantis Responsible International Equity ETF returned -10.54%* on a market price basis. On a net asset value (NAV) basis, the portfolio returned -10.66%. NAV and market price returns reflect fees and operating expenses, while index returns do not.

The fund underperformed the total non-U.S. developed markets stock universe, as measured by the MSCI World ex-USA IMI Index, which returned -9.31% for the reporting period. The MSCI World ex-USA IMI Index is an unmanaged index generally representative of the performance of non-U.S. developed markets stocks across capitalization categories.
The underperformance was largely due to the fund’s environmental screen. This screen resulted in an underweight to the energy sector, which outperformed for the reporting period. Meanwhile, overweighting companies with the highest book-to-market characteristics and underweighting those with the lowest valuation traits boosted relative performance.










*Total returns for periods less than one year are not annualized.

A strategy or emphasis on environmental, social and governance factors (ESG) may limit the investment opportunities available to a portfolio. Therefore, the portfolio may underperform or perform differently than other portfolios that do not have an ESG investment focus. A portfolio’s ESG investment focus may also result in the portfolio investing in securities or industry sectors that perform differently or maintain a different risk profile than the market generally or compared to underlying holdings that are not screened for ESG standards.
7

Fund Characteristics
AUGUST 31, 2022
Avantis Responsible International Equity ETF
Types of Investments in Portfolio % of net assets
Common Stocks 99.6%
Rights
—*
Warrants
—*
Short-Term Investments 0.9%
Other Assets and Liabilities (0.5)%
*Category is less than 0.05% of total net assets.
Top Five Countries % of net assets
Japan 21.1%
United Kingdom 13.8%
Canada 11.0%
France 9.1%
Switzerland 8.4%
8

Shareholder Fee Examples

Fund shareholders may incur two types of costs: (1) transaction costs, including brokerage commissions paid on purchases and sales of fund shares; and (2) ongoing costs, including management fees and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in your fund and to compare these costs with the ongoing cost of investing in other funds.

The example is based on an investment of $1,000 made at the beginning of the period and held for the entire period from March 1, 2022 to August 31, 2022 (except as noted).

Actual Expenses

The table provides information about actual account values and actual expenses for each fund. You may use the information, together with the amount you invested, to estimate the expenses that you paid over the period. First, identify the fund you own. Then simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The table also provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio of your fund and an assumed rate of return of 5% per year before expenses, which is not the actual return of a fund. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of fund shares. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.











9

Beginning
Account Value
3/1/22		 Ending
Account Value
8/31/22
Expenses Paid
During Period(1)
3/1/22 - 8/31/22
Annualized
Expense Ratio(1)
Avantis Responsible Emerging Markets Equity ETF
Actual $1,000 $879.60
$1.33(2)
 0.33%
Hypothetical $1,000 $1,023.54 $1.68 0.33%
Avantis Responsible International Equity ETF
Actual $1,000 $893.40
$1.01(3)
 0.23%
Hypothetical $1,000 $1,024.05 $1.17 0.23%
(1)Expenses are equal to the fund's annualized expense ratio listed in the table above, multiplied by the average account value over the period, multiplied by 184, the number of days in the most recent fiscal half-year, divided by 365, to reflect the one-half year period. Annualized expense ratio reflects actual expenses, including any applicable fee waivers or expense reimbursements and excluding any acquired fund fees and expenses.
(2)Expenses are equal to the fund's annualized expense ratio listed in the table above, multiplied by the average account value over the period, multiplied by 157, the number of days in the period from March 28, 2022 (fund inception) through August 31, 2022, divided by 365, to reflect the period. Had the fund been available for the full period, the expenses paid during the period would have been higher.
(3)Expenses are equal to the fund's annualized expense ratio listed in the table above, multiplied by the average account value over the period, multiplied by 170, the number of days in the period from March 15, 2022 (fund inception) through August 31, 2022, divided by 365, to reflect the period. Had the fund been available for the full period, the expenses paid during the period would have been higher.
10

Schedules of Investments
AUGUST 31, 2022
Avantis Responsible Emerging Markets Equity ETF
Shares Value
COMMON STOCKS — 99.9%
Brazil — 6.2%
Aeris Industria E Comercio De Equipamentos Para Geracao De Energia SA 1,200  $ 531 
AES Brasil Energia SA 600  1,116 
Aliansce Sonae Shopping Centers SA 900  3,031 
Alpargatas SA, Preference Shares 1,000  4,021 
Alupar Investimento SA 300  1,643 
Ambev SA, ADR 6,225  18,052 
Americanas SA 1,100  3,434 
Anima Holding SA(1)
500  485 
Arezzo Industria e Comercio SA 200  3,550 
Armac Locacao Logistica E Servicos SA 100  304 
Atacadao SA 1,400  5,358 
Auren Energia SA 1,400  4,123 
B3 SA - Brasil Bolsa Balcao 7,000  16,079 
Banco ABC Brasil SA, Preference Shares 800  2,925 
Banco Bradesco SA 3,570  10,842 
Banco Bradesco SA, ADR 12,076  43,836 
Banco BTG Pactual SA 2,900  14,270 
Banco do Brasil SA 3,300  26,496 
Banco do Estado do Rio Grande do Sul SA, Class B Preference Shares 2,000  4,302 
Banco Santander Brasil SA, ADR 1,060  6,063 
BB Seguridade Participacoes SA 1,900  10,387 
Bemobi Mobile Tech SA 300  810 
Boa Vista Servicos SA 1,400  1,843 
BR Malls Participacoes SA 5,300  8,435 
BR Properties SA 2,100  3,334 
BRF SA, ADR(1)
1,653  4,942 
C&A MODAS SA(1)
700  435 
CCR SA 7,900  21,108 
Centrais Eletricas Brasileiras SA, ADR 1,497  13,383 
Centrais Eletricas Brasileiras SA, Class B Preference Shares 500  4,623 
Cia Brasileira de Aluminio 400  992 
Cia Brasileira de Distribuicao, ADR 1,444  5,892 
Cia de Saneamento Basico do Estado de Sao Paulo, ADR 1,103  10,324 
Cia de Saneamento de Minas Gerais-COPASA 800  2,079 
Cia de Saneamento do Parana 900  2,988 
Cia de Saneamento do Parana, Preference Shares 8,300  5,616 
Cia de Transmissao de Energia Eletrica Paulista, Preference Shares 1,400  6,442 
Cia Energetica de Minas Gerais, ADR 1,281  3,023 
Cia Ferro Ligas da Bahia - FERBASA, Preference Shares 500  5,082 
Cia Paranaense de Energia 1,500  1,854 
Cia Paranaense de Energia, ADR 1,566  10,273 
Cia Paranaense de Energia, Preference Shares 11,700  15,653 
Cielo SA 9,200  9,744 
Clear Sale SA(1)
200  216 
11

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Construtora Tenda SA(1)
100  $ 113 
CPFL Energia SA 200  1,354 
Cruzeiro do Sul Educacional SA 200  179 
Cury Construtora e Incorporadora SA 800  1,370 
CVC Brasil Operadora e Agencia de Viagens SA(1)
1,800  2,636 
Cyrela Brazil Realty SA Empreendimentos e Participacoes 1,700  4,666 
Desktop - Sigmanet Comunicacao Multimidia S.A 100  207 
Dexco SA 2,400  4,595 
Dexxos Participacoes SA 100  134 
Direcional Engenharia SA 300  745 
EcoRodovias Infraestrutura e Logistica SA(1)
2,000  2,245 
EDP - Energias do Brasil SA 400  1,744 
Embraer SA, ADR(1)
1,325  14,125 
Empreendimentos Pague Menos S/A(1)
900  875 
Energisa SA 1,200  9,799 
Equatorial Energia SA 3,300  15,370 
Eternit SA 300  744 
Even Construtora e Incorporadora SA 700  799 
Ez Tec Empreendimentos e Participacoes SA 700  2,418 
Fertilizantes Heringer SA(1)
100  269 
Fleury SA 500  1,511 
Fras-Le SA 300  735 
Gafisa SA(1)
800  185 
GPS Participacoes e Empreendimentos SA 700  1,830 
Grendene SA 1,300  1,892 
Grupo Mateus SA(1)
1,400  1,712 
Grupo SBF SA 300  1,270 
Guararapes Confeccoes SA 600  1,065 
Hapvida Participacoes e Investimentos SA 2,300  3,232 
Helbor Empreendimentos SA 200  104 
Hidrovias do Brasil SA(1)
2,800  1,319 
Hospital Mater Dei SA 100  176 
Hypera SA 900  7,454 
Iguatemi SA 1,500  5,648 
Iguatemi SA 2,000  934 
Infracommerce CXAAS SA(1)
100  107 
Instituto Hermes Pardini SA 300  1,142 
International Meal Co. Alimentacao SA, Class A(1)
900  348 
Iochpe Maxion SA 2,100  5,518 
Irani Papel e Embalagem SA 900  1,323 
IRB Brasil Resseguros S/A(1)
5,900  1,883 
Itau Unibanco Holding SA, ADR 13,468  66,532 
Jalles Machado SA 1,300  1,874 
JHSF Participacoes SA 3,900  4,663 
Kepler Weber SA 500  2,030 
Klabin SA 4,500  16,400 
Lavvi Empreendimentos Imobiliarios Ltda 900  983 
Light SA 1,300  1,424 
Localiza Rent a Car SA 2,170  25,454 
LOG Commercial Properties e Participacoes SA 300  1,519 
Log-in Logistica Intermodal SA(1)
400  3,039 
12

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Lojas Quero Quero S/A 1,900  $ 2,527 
Lojas Renner SA 2,400  12,280 
LPS Brasil Consultoria de Imoveis SA 1,700  948 
M Dias Branco SA 500  4,102 
Magazine Luiza SA(1)
2,300  1,901 
Mahle-Metal Leve SA 400  1,877 
Marcopolo SA, Preference Shares 3,500  1,763 
Marfrig Global Foods SA 600  1,522 
Marisa Lojas SA(1)
1,000  486 
Mills Estruturas e Servicos de Engenharia SA 2,200  4,208 
Minerva SA 2,600  7,706 
Mitre Realty Empreendimentos E Participacoes LTDA 200  212 
Movida Participacoes SA 2,100  5,599 
MPM Corporeos SA 300  115 
MRV Engenharia e Participacoes SA 1,800  3,529 
Multilaser Industrial SA 800  741 
Multiplan Empreendimentos Imobiliarios SA 1,500  7,001 
Natura & Co. Holding SA 1,300  3,626 
Oceanpact Servicos Maritimos SA(1)
200  87 
Odontoprev SA 1,020  1,796 
Omega Energia SA(1)
900  1,939 
Oncoclinicas do Brasil Servicos Medicos SA(1)
100  119 
Orizon Valorizacao de Residuos SA(1)
100  684 
Petroreconcavo SA 800  4,192 
Portobello SA 600  1,151 
Positivo Tecnologia SA 400  912 
Qualicorp Consultoria e Corretora de Seguros SA 700  1,286 
Raia Drogasil SA 2,500  10,524 
Randon SA Implementos e Participacoes, Preference Shares 1,000  1,840 
Rede D'Or Sao Luiz SA 200  1,280 
Romi SA 100  259 
Rumo SA 3,500  13,590 
Santos Brasil Participacoes SA 2,800  4,349 
Sao Martinho SA 900  5,531 
Sendas Distribuidora SA, ADR 914  16,105 
Ser Educacional SA 400  477 
SIMPAR SA 1,800  3,706 
StoneCo Ltd., A Shares(1)
1,949  18,477 
Sul America SA 2,200  10,314 
Suzano SA, ADR 2,141  18,391 
SYN prop e tech SA 500  436 
Tegma Gestao Logistica SA 100  339 
Telefonica Brasil SA, ADR 627  5,091 
TIM SA, ADR 953  10,807 
TOTVS SA 800  4,370 
Transmissora Alianca de Energia Eletrica SA 2,000  16,070 
Trisul SA 700  628 
Tupy SA 600  3,076 
Unifique Telecomunicacoes S/A 200  177 
Unipar Carbocloro SA, Class B Preference Shares 610  11,877 
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA 300  609 
13

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA 1,500  $ 4,106 
Via S/A(1)
12,700  7,836 
Vivara Participacoes SA 200  974 
Vulcabras Azaleia SA 900  2,491 
WEG SA 1,300  7,072 
Wiz Solucoes e Corretagem de Seguros SA 400  625 
YDUQS Participacoes SA 700  1,663 
Zamp SA(1)
1,800  2,699 
805,730 
Chile — 0.7%
Aguas Andinas SA, A Shares 34,996  7,809 
Banco de Chile 65,381  6,203 
Banco de Credito e Inversiones SA 28  825 
Banco Santander Chile, ADR 373  5,983 
CAP SA 754  6,083 
Cencosud SA 3,375  4,718 
Cencosud Shopping SA 184  254 
Cia Cervecerias Unidas SA, ADR 45  492 
Embotelladora Andina SA, Class B Preference Shares 3,991  8,171 
Empresa Nacional de Telecomunicaciones SA 1,405  4,442 
Empresas CMPC SA 7,058  13,388 
Falabella SA 2,129  5,017 
Parque Arauco SA 1,220  1,290 
Ripley Corp. SA 12,061  2,207 
Sociedad Quimica y Minera de Chile SA, ADR 199  19,836 
Vina Concha y Toro SA 3,852  4,706 
91,424 
China — 29.0%
360 DigiTech, Inc., ADR 1,063  16,987 
361 Degrees International Ltd.(1)
8,000  4,088 
3SBio, Inc. 13,000  8,643 
A-Living Smart City Services Co. Ltd. 1,000  1,030 
AAC Technologies Holdings, Inc. 3,500  6,484 
Agile Group Holdings Ltd. 8,000  2,802 
Agora, Inc., ADR(1)
264  1,093 
Agricultural Bank of China Ltd., H Shares 75,000  24,507 
AK Medical Holdings Ltd. 2,000  1,734 
Alibaba Group Holding Ltd., ADR(1)
2,543  242,628 
Alibaba Pictures Group Ltd.(1)
40,000  3,147 
Anhui Expressway Co. Ltd., H Shares 6,000  4,356 
ANTA Sports Products Ltd. 2,400  28,902 
Ascletis Pharma, Inc.(1)
1,000  421 
AsiaInfo Technologies Ltd. 1,600  2,294 
Autohome, Inc., ADR 623  22,185 
Baidu, Inc., ADR(1)
222  31,961 
Bairong, Inc.(1)
500  598 
Bank of China Ltd., H Shares 225,000  78,518 
Bank of Chongqing Co. Ltd., H Shares 1,000  517 
Bank of Communications Co. Ltd., H Shares 34,000  19,372 
BeiGene Ltd., ADR(1)
67  11,501 
Beijing Capital International Airport Co. Ltd., H Shares(1)
12,000  7,532 
14

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Beijing Chunlizhengda Medical Instruments Co. Ltd., H Shares 250  $ 364 
Beijing Enterprises Water Group Ltd. 14,000  3,596 
Beijing Tong Ren Tang Chinese Medicine Co. Ltd. 3,000  3,733 
Bilibili, Inc., ADR(1)
17  424 
BOC Aviation Ltd. 2,100  16,809 
BOE Varitronix Ltd. 4,000  9,124 
Bosideng International Holdings Ltd. 28,000  15,722 
Burning Rock Biotech Ltd., ADR(1)
42  165 
BYD Co. Ltd., H Shares 2,000  61,631 
BYD Electronic International Co. Ltd. 3,500  9,247 
C&D International Investment Group Ltd. 2,000  4,000 
Canadian Solar, Inc.(1)
152  6,866 
Cango, Inc., ADR 267  646 
CanSino Biologics, Inc., H Shares 200  1,248 
Cathay Media And Education Group, Inc. 1,000  154 
Central China New Life Ltd. 2,000  863 
Central China Real Estate Ltd. 1,000  66 
CGN Mining Co. Ltd.(1)
20,000  2,606 
Cheerwin Group Ltd. 500  127 
China Bohai Bank Co. Ltd., H Shares 8,500  1,408 
China Cinda Asset Management Co. Ltd., H Shares 75,000  10,299 
China CITIC Bank Corp. Ltd., H Shares 39,000  16,720 
China Communications Services Corp. Ltd., H Shares 24,000  10,306 
China Conch Environment Protection Holdings Ltd.(1)
4,500  4,017 
China Conch Venture Holdings Ltd. 8,000  16,326 
China Construction Bank Corp., H Shares 225,000  139,091 
China Datang Corp. Renewable Power Co. Ltd., H Shares 26,000  6,511 
China Dili Group(1)
6,000  764 
China Dongxiang Group Co. Ltd.(1)
16,000  712 
China East Education Holdings Ltd. 6,500  2,747 
China Education Group Holdings Ltd. 5,000  4,356 
China Everbright Bank Co. Ltd., H Shares 14,000  4,292 
China Everbright Greentech Ltd. 1,000  209 
China Everbright Ltd. 10,000  7,303 
China Feihe Ltd. 16,000  13,243 
China Foods Ltd. 2,000  637 
China Galaxy Securities Co. Ltd., H Shares 21,500  11,754 
China General Education Group Ltd.(1)
1,000  523 
China Glass Holdings Ltd. 2,000  284 
China High Speed Transmission Equipment Group Co. Ltd.(1)
4,000  2,261 
China International Capital Corp. Ltd., H Shares 4,400  7,741 
China Kepei Education Group Ltd. 2,000  514 
China Lesso Group Holdings Ltd. 7,000  8,320 
China Life Insurance Co. Ltd., ADR 3,111  22,119 
China Literature Ltd.(1)
600  2,431 
China Medical System Holdings Ltd. 12,000  17,760 
China Meidong Auto Holdings Ltd. 2,000  4,067 
China Mengniu Dairy Co. Ltd.(1)
12,000  54,339 
China Merchants Bank Co. Ltd., H Shares 6,000  30,685 
China Merchants Port Holdings Co. Ltd. 10,000  15,013 
China Minsheng Banking Corp. Ltd., H Shares 29,500  9,384 
15

Avantis Responsible Emerging Markets Equity ETF
Shares Value
China New Higher Education Group Ltd. 11,000  $ 3,446 
China Nonferrous Mining Corp. Ltd. 19,000  8,123 
China Pacific Insurance Group Co. Ltd., H Shares 10,200  21,607 
China Rare Earth Holdings Ltd.(1)
2,000  119 
China Renaissance Holdings Ltd.(1)
200  226 
China Resources Beer Holdings Co. Ltd. 2,000  13,942 
China Resources Land Ltd. 12,000  49,131 
China Resources Medical Holdings Co. Ltd. 10,500  6,229 
China Resources Mixc Lifestyle Services Ltd. 1,400  6,349 
China Sanjiang Fine Chemicals Co. Ltd. 2,000  409 
China SCE Group Holdings Ltd. 7,000  586 
China Shineway Pharmaceutical Group Ltd. 5,000  3,835 
China Shuifa Singyes Energy Holdings Ltd. 1,000  131 
China South City Holdings Ltd. 52,000  3,269 
China Starch Holdings Ltd. 35,000  1,155 
China Sunshine Paper Holdings Co. Ltd. 2,000  470 
China Taiping Insurance Holdings Co. Ltd. 12,600  12,864 
China Tower Corp. Ltd., H Shares 272,000  33,918 
China Traditional Chinese Medicine Holdings Co. Ltd. 14,000  6,037 
China Travel International Investment Hong Kong Ltd.(1)
22,000  3,997 
China Vanke Co. Ltd., H Shares 2,700  5,271 
China Yongda Automobiles Services Holdings Ltd. 11,000  7,758 
China Youran Dairy Group Ltd.(1)
5,000  1,514 
China Yuhua Education Corp. Ltd.(1)
14,000  2,200 
Chindata Group Holdings Ltd., ADR(1)
1,106  9,335 
CIFI Ever Sunshine Services Group Ltd. 4,000  2,458 
CIFI Holdings Group Co. Ltd. 16,320  4,131 
CITIC Securities Co. Ltd., H Shares 9,000  18,242 
CMGE Technology Group Ltd.(1)
4,000  987 
CMOC Group Ltd., H Shares 6,000  2,676 
COSCO SHIPPING Holdings Co. Ltd., Class H 13,500  20,154 
COSCO SHIPPING Ports Ltd. 16,000  10,353 
Country Garden Holdings Co. Ltd. 27,000  7,970 
Country Garden Services Holdings Co. Ltd. 1,000  1,965 
CSPC Pharmaceutical Group Ltd. 50,000  50,721 
CSSC Hong Kong Shipping Co. Ltd. 10,000  1,690 
Dali Foods Group Co. Ltd. 15,500  7,086 
Daqo New Energy Corp., ADR(1)
724  48,269 
Differ Group Auto Ltd.(1)
4,000  1,008 
Digital China Holdings Ltd. 7,000  3,123 
Dongfeng Motor Group Co. Ltd., Class H 22,000  13,949 
DouYu International Holdings Ltd., ADR(1)
317  476 
Dynagreen Environmental Protection Group Co. Ltd., H Shares 1,000  367 
E-House China Enterprise Holdings Ltd.(1)
5,100  446 
EVA Precision Industrial Holdings Ltd. 10,000  1,913 
Everest Medicines Ltd.(1)
500  756 
Excellence Commercial Property & Facilities Management Group Ltd. 3,000  1,247 
FIH Mobile Ltd.(1)
33,000  4,275 
FinVolution Group, ADR 2,083  10,248 
First Tractor Co. Ltd., H Shares 2,000  801 
16

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Fu Shou Yuan International Group Ltd. 12,000  $ 7,667 
Fuyao Glass Industry Group Co. Ltd., H Shares 2,400  11,452 
Ganfeng Lithium Co. Ltd., H Shares 480  4,217 
GCL New Energy Holdings Ltd.(1)
74,000  827 
GDS Holdings Ltd., Class A(1)
4,000  13,661 
Geely Automobile Holdings Ltd. 33,000  66,304 
Gemdale Properties & Investment Corp. Ltd. 48,000  4,090 
Genertec Universal Medical Group Co. Ltd. 9,000  5,066 
GF Securities Co. Ltd., H Shares 4,200  5,487 
Glory Sun Financial Group Ltd.(1)
80,000  365 
Goldpac Group Ltd. 1,000  205 
GOME Retail Holdings Ltd.(1)
15,000  468 
Grand Pharmaceutical Group Ltd. 7,500  4,004 
Great Wall Motor Co. Ltd., H Shares 2,000  3,001 
Greenland Hong Kong Holdings Ltd. 13,000  1,353 
Greentown China Holdings Ltd. 7,500  14,151 
Guangzhou Automobile Group Co. Ltd., H Shares 6,000  5,159 
Guangzhou R&F Properties Co. Ltd., H Shares 12,400  2,565 
H World Group Ltd., ADR 224  8,429 
Haidilao International Holding Ltd.(1)
4,000  9,412 
Haier Smart Home Co. Ltd., H Shares 3,200  10,454 
Hainan Meilan International Airport Co. Ltd., H Shares(1)
3,000  7,064 
Haitian International Holdings Ltd. 6,000  14,700 
Haitong Securities Co. Ltd., H Shares 10,400  6,809 
Hangzhou Tigermed Consulting Co. Ltd., H Shares 200  1,980 
Hansoh Pharmaceutical Group Co. Ltd. 2,000  3,990 
Hello Group, Inc., ADR 1,032  5,315 
Hengan International Group Co. Ltd. 6,000  28,713 
Hilong Holding Ltd.(1)
14,000  1,104 
Hisense Home Appliances Group Co. Ltd., H Shares 1,000  1,077 
Hollysys Automation Technologies Ltd. 651  11,087 
Hope Education Group Co. Ltd. 56,000  4,827 
Hua Hong Semiconductor Ltd.(1)
3,000  8,806 
Huatai Securities Co. Ltd., H Shares 10,400  13,901 
Huazhong In-Vehicle Holdings Co. Ltd. 2,000  637 
Huijing Holdings Co. Ltd. 4,000  78 
HUYA, Inc., ADR(1)
399  1,313 
I-Mab, ADR(1)
14  86 
iDreamSky Technology Holdings Ltd.(1)
3,600  2,419 
Industrial & Commercial Bank of China Ltd., H Shares 121,000  61,473 
Inkeverse Group Ltd.(1)
3,000  491 
International Alliance Financial Leasing Co. Ltd.(1)
9,000  4,752 
iQIYI, Inc., ADR(1)
2,529  9,256 
JD Health International, Inc.(1)
1,000  6,889 
Jiangsu Expressway Co. Ltd., H Shares 8,000  6,852 
Jiayuan International Group Ltd.(1)
10,000  275 
Jinchuan Group International Resources Co. Ltd. 22,000  2,374 
JinkoSolar Holding Co. Ltd., ADR(1)
79  4,809 
Jinxin Fertility Group Ltd. 9,000  5,861 
Jiumaojiu International Holdings Ltd. 6,000  11,804 
JNBY Design Ltd. 500  544 
17

Avantis Responsible Emerging Markets Equity ETF
Shares Value
JOYY, Inc., ADR 289  $ 8,762 
JW Cayman Therapeutics Co. Ltd.(1)
2,000  1,553 
Kandi Technologies Group, Inc.(1)
223  488 
Kanzhun Ltd., ADR(1)
168  3,946 
KE Holdings, Inc., ADR(1)
413  7,451 
Kingboard Holdings Ltd. 4,000  12,631 
Kingboard Laminates Holdings Ltd. 7,500  7,154 
Kingdee International Software Group Co. Ltd.(1)
1,000  1,941 
Kingsoft Cloud Holdings Ltd., ADR(1)
433  1,490 
Kingsoft Corp. Ltd. 4,400  13,373 
Kuaishou Technology(1)
1,400  12,130 
KWG Group Holdings Ltd. 6,000  1,079 
KWG Living Group Holdings Ltd. 4,000  710 
Legend Biotech Corp., ADR(1)
10  465 
Lenovo Group Ltd. 32,000  26,356 
LexinFintech Holdings Ltd., ADR(1)
807  1,646 
Li Auto, Inc., ADR(1)
917  26,382 
Li Ning Co. Ltd. 8,500  77,421 
Lifetech Scientific Corp.(1)
18,000  5,870 
Linklogis, Inc., Class B(1)
1,000  672 
Logan Group Co. Ltd. 2,000  218 
Longfor Group Holdings Ltd. 4,000  12,983 
Lonking Holdings Ltd. 21,000  3,556 
Lufax Holding Ltd., ADR 1,950  8,522 
Luoyang Glass Co. Ltd., H Shares(1)
2,000  2,780 
Luye Pharma Group Ltd.(1)
8,500  2,453 
LVGEM China Real Estate Investment Co. Ltd.(1)
6,000  723 
Maoyan Entertainment(1)
1,600  1,344 
Meitu, Inc.(1)
7,500  797 
Meituan, Class B(1)
2,600  62,445 
Midea Real Estate Holding Ltd. 5,000  5,335 
Minth Group Ltd. 4,000  11,319 
Mobvista, Inc.(1)
3,000  1,809 
Nam Tai Property, Inc.(1)
45  190 
NetDragon Websoft Holdings Ltd. 3,500  7,615 
NetEase, Inc., ADR 1,248  110,460 
New China Life Insurance Co. Ltd., H Shares 5,100  12,004 
New Horizon Health Ltd.(1)
1,500  3,835 
New Oriental Education & Technology Group, Inc., ADR(1)
609  17,296 
Nexteer Automotive Group Ltd. 5,000  3,716 
NIO, Inc., ADR(1)
1,382  27,516 
Niu Technologies, ADR(1)
10  60 
Noah Holdings Ltd., ADR(1)
171  3,028 
Nongfu Spring Co. Ltd., H Shares 3,800  22,594 
Orient Overseas International Ltd. 1,000  27,875 
People's Insurance Co. Group of China Ltd., H Shares 35,000  10,817 
Pharmaron Beijing Co. Ltd., H Shares 250  1,654 
PICC Property & Casualty Co. Ltd., H Shares 32,000  34,612 
Pinduoduo, Inc., ADR(1)
1,326  94,544 
Ping An Healthcare and Technology Co. Ltd.(1)
1,600  4,331 
Ping An Insurance Group Co. of China Ltd., H Shares 17,500  102,929 
18

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Poly Property Group Co. Ltd. 15,000  $ 3,049 
Postal Savings Bank of China Co. Ltd., H Shares 28,000  16,715 
Q Technology Group Co. Ltd.(1)
2,000  1,099 
Radiance Holdings Group Co. Ltd. 7,000  3,383 
Redco Properties Group Ltd.(1)
2,000  453 
Renren, Inc., ADR(1)
13  375 
Sany Heavy Equipment International Holdings Co. Ltd. 9,000  9,323 
SCE Intelligent Commercial Management Holdings Ltd. 3,000  674 
Seazen Group Ltd.(1)
12,000  3,983 
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares 16,400  22,248 
Shanghai Fosun Pharmaceutical Group Co. Ltd., H Shares 500  1,609 
Shanghai Pharmaceuticals Holding Co. Ltd., H Shares 4,000  5,815 
Shenzhen Expressway Corp. Ltd., H Shares 4,000  3,502 
Shenzhen International Holdings Ltd. 18,000  15,516 
Shenzhen Investment Ltd. 22,000  4,029 
Shenzhou International Group Holdings Ltd. 500  5,226 
Shimao Services Holdings Ltd.(1)
1,000  256 
Shoucheng Holdings Ltd. 2,000  340 
Shui On Land Ltd. 46,500  5,849 
Sihuan Pharmaceutical Holdings Group Ltd. 26,000  3,297 
Simcere Pharmaceutical Group Ltd. 2,000  1,999 
Sino Biopharmaceutical Ltd. 22,000  11,555 
Sino-Ocean Group Holding Ltd. 14,000  2,043 
Sinopec Engineering Group Co. Ltd., H Shares 20,000  8,935 
Sinopharm Group Co. Ltd., H Shares 8,400  18,713 
Sinotruk Hong Kong Ltd. 4,500  4,487 
Skyworth Group Ltd. 10,000  4,968 
SOHO China Ltd.(1)
18,000  3,205 
Sohu.com Ltd., ADR(1)
292  5,203 
South Manganese Investment Ltd.(1)
17,000  1,897 
Sun King Technology Group Ltd.(1)
2,000  568 
Sunny Optical Technology Group Co. Ltd. 1,900  25,940 
SY Holdings Group Ltd. 2,000  1,338 
TAL Education Group, ADR(1)
3,905  22,571 
TCL Electronics Holdings Ltd. 7,000  3,344 
Tencent Holdings Ltd. 5,600  231,452 
Tencent Music Entertainment Group, ADR(1)
2,052  10,486 
Tianneng Power International Ltd. 8,000  8,511 
Times China Holdings Ltd. 4,000  594 
Tingyi Cayman Islands Holding Corp. 14,000  24,860 
Tong Ren Tang Technologies Co. Ltd., H Shares 7,000  4,948 
Tongcheng Travel Holdings Ltd.(1)
8,000  16,385 
Topsports International Holdings Ltd. 16,000  12,629 
TravelSky Technology Ltd., H Shares 8,000  13,943 
Trip.com Group Ltd., ADR(1)
952  24,485 
Truly International Holdings Ltd. 16,000  3,505 
Tsaker New Energy Tech Co. Ltd. 4,000  716 
Tsingtao Brewery Co. Ltd., H Shares 2,000  19,422 
Tuya, Inc., ADR(1)
480  634 
Uni-President China Holdings Ltd. 12,000  10,331 
Up Fintech Holding Ltd., ADR(1)
446  1,681 
19

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Venus MedTech Hangzhou, Inc., H Shares(1)
500  $ 870 
Vinda International Holdings Ltd. 4,000  11,180 
Vipshop Holdings Ltd., ADR(1)
4,230  49,110 
Viva Biotech Holdings(1)
2,500  589 
VNET Group, Inc., ADR(1)
581  3,108 
Want Want China Holdings Ltd. 34,000  23,950 
Weibo Corp., ADR(1)
336  6,952 
Weichai Power Co. Ltd., H Shares 4,000  5,344 
Wharf Holdings Ltd. 9,000  33,894 
Wuling Motors Holdings Ltd. 10,000  1,319 
WuXi AppTec Co. Ltd., H Shares 300  3,387 
Wuxi Biologics Cayman, Inc.(1)
3,000  26,466 
Xiabuxiabu Catering Management China Holdings Co. Ltd.(1)
5,500  2,590 
Xiamen International Port Co. Ltd., H Shares 16,000  4,534 
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares 6,400  9,537 
Xinjiang Xinxin Mining Industry Co. Ltd., H Shares(1)
4,000  598 
Xinte Energy Co. Ltd., H Shares 2,000  5,219 
XPeng, Inc., Class A, ADR(1)
311  5,760 
XTEP International Holdings Ltd. 11,500  15,958 
Yadea Group Holdings Ltd. 10,000  19,074 
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., H Shares(1)
200  127 
Yihai International Holding Ltd.(1)
2,000  5,037 
Yixin Group Ltd.(1)
13,000  1,616 
Youdao, Inc., ADR(1)
12  64 
Yuexiu Property Co. Ltd. 14,000  17,511 
Yuexiu Transport Infrastructure Ltd. 12,000  5,742 
Yum China Holdings, Inc. 2,042  102,325 
Yuzhou Group Holdings Co. Ltd. 10,000  432 
Zengame Technology Holding Ltd.(1)
4,000  768 
Zhejiang Expressway Co. Ltd., H Shares 14,000  10,656 
Zhenro Properties Group Ltd.(1)
8,000  370 
Zhongliang Holdings Group Co. Ltd. 4,500  378 
Zhongsheng Group Holdings Ltd. 3,500  16,549 
Zhongyu Energy Holdings Ltd. 2,000  1,642 
Zhou Hei Ya International Holdings Co. Ltd.(1)
11,000  5,495 
Zhuguang Holdings Group Co. Ltd.(1)
2,000  254 
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H 7,400  3,336 
ZTO Express Cayman, Inc., ADR 1,722  44,858 
3,775,250 
Colombia — 0.2%
Bancolombia SA 708  5,467 
Bancolombia SA, ADR 316  8,674 
Interconexion Electrica SA ESP 1,923  8,324 
22,465 
Czech Republic — 0.1%
Komercni banka AS 425  9,954 
Moneta Money Bank AS 3,008  9,544 
19,498 
Egypt — 0.1%
Commercial International Bank Egypt S.A.E., GDR 4,575  8,034 
20

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Greece — 0.4%
Aegean Airlines SA(1)
98  $ 481 
Alpha Services & Holdings SA(1)
6,966  6,433 
Eurobank Ergasias Services and Holdings SA, Class A(1)
7,327  6,798 
Hellenic Telecommunications Organization SA 375  5,966 
Holding Co. ADMIE IPTO SA 54  97 
JUMBO SA 534  7,634 
LAMDA Development SA(1)
787  4,673 
National Bank of Greece SA(1)
2,075  6,696 
Piraeus Financial Holdings SA(1)
4,523  4,734 
Terna Energy SA 312  5,565 
Viohalco SA 74  255 
49,332 
Hong Kong†
Edvantage Group Holdings Ltd. 2,000  595 
Hungary — 0.2%
Magyar Telekom Telecommunications PLC 1,410  1,197 
OTP Bank Nyrt 593  12,611 
Richter Gedeon Nyrt 381  7,682 
21,490 
India — 17.3%
3i Infotech Ltd.(1)
335  183 
3M India Ltd.(1)
2  582 
Aarti Industries Ltd. 393  4,056 
Acrysil Ltd. 30  259 
Action Construction Equipment Ltd. 218  684 
Adani Green Energy Ltd.(1)
464  14,020 
Adani Ports & Special Economic Zone Ltd. 1,290  13,497 
Aditya Birla Capital Ltd.(1)
2,590  3,658 
Aditya Birla Fashion and Retail Ltd.(1)
258  980 
Affle India Ltd.(1)
8  129 
AGI Greenpac Ltd. 487  1,898 
AIA Engineering Ltd. 190  6,178 
Alkyl Amines Chemicals 58  2,141 
Allcargo Logistics Ltd. 743  3,301 
Alok Industries Ltd.(1)
1,758  422 
Amara Raja Batteries Ltd. 838  5,316 
Ambika Cotton Mills Ltd. 30  665 
Anant Raj Ltd. 349  377 
Andhra Sugars Ltd. 371  674 
Apar Industries Ltd. 293  4,882 
Apcotex Industries Ltd. 9  66 
Apex Frozen Foods Ltd. 40  167 
APL Apollo Tubes Ltd.(1)
706  8,302 
Apollo Hospitals Enterprise Ltd. 150  8,059 
Apollo Pipes Ltd.(1)
31  212 
Apollo Tyres Ltd. 3,478  10,851 
Aptech Ltd. 176  550 
Arvind Ltd.(1)
1,525  1,852 
Asahi India Glass Ltd. 209  1,659 
Ashapura Minechem Ltd. 143  185 
21

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Ashok Leyland Ltd. 6,940  $ 13,274 
Ashoka Buildcon Ltd.(1)
570  568 
Asian Paints Ltd. 303  12,756 
Aster DM Healthcare Ltd.(1)
1,401  3,863 
Astra Microwave Products Ltd. 33  145 
Astral Ltd. 182  4,732 
AU Small Finance Bank Ltd. 758  5,961 
Aurobindo Pharma Ltd. 2,222  15,128 
Avadh Sugar & Energy Ltd. 127  847 
Avenue Supermarts Ltd.(1)
118  6,633 
Axis Bank Ltd., GDR 521  24,683 
Bajaj Auto Ltd. 217  11,053 
Bajaj Consumer Care Ltd. 1,241  2,499 
Bajaj Electricals Ltd. 412  6,353 
Bajaj Finance Ltd. 277  25,000 
Bajaj Finserv Ltd. 36  7,547 
Bajaj Hindusthan Sugar Ltd.(1)
10,011  1,244 
Balaji Amines Ltd. 64  2,747 
Balaji Telefilms Ltd. 116  78 
Balkrishna Industries Ltd. 277  7,037 
Balrampur Chini Mills Ltd. 1,456  6,350 
Bandhan Bank Ltd.(1)
3,225  11,130 
BASF India Ltd. 80  3,306 
Bata India Ltd. 51  1,233 
BEML Ltd. 22  505 
Berger Paints India Ltd. 323  2,701 
BF Utilities Ltd.(1)
24  120 
Bhansali Engineering Polymers Ltd. 218  344 
Bharat Electronics Ltd. 8,834  33,755 
Bharat Forge Ltd. 766  7,052 
Bharat Heavy Electricals Ltd.(1)
4,607  3,366 
Bharat Rasayan Ltd. 9  1,357 
Biocon Ltd. 314  1,215 
Birlasoft Ltd. 848  3,355 
BLS International Services Ltd. 48  154 
Blue Dart Express Ltd. 24  2,561 
Blue Star Ltd. 294  4,033 
Bodal Chemicals Ltd. 231  267 
Bombay Dyeing & Manufacturing Co. Ltd.(1)
90  112 
Borosil Renewables Ltd.(1)
349  2,441 
Brigade Enterprises Ltd. 1,316  8,357 
Brightcom Group Ltd. 2,690  1,364 
Britannia Industries Ltd. 328  15,348 
BSE Ltd. 830  6,717 
Butterfly Gandhimathi Appliances Ltd. 2  38 
Can Fin Homes Ltd. 452  3,556 
Cantabil Retail India Ltd. 11  211 
Caplin Point Laboratories Ltd. 162  1,577 
Carborundum Universal Ltd. 372  3,915 
Care Ratings Ltd. 127  799 
CCL Products India Ltd. 757  4,529 
22

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Ceat Ltd. 286  $ 4,954 
Central Depository Services India Ltd. 24  371 
Century Enka Ltd. 40  230 
Cera Sanitaryware Ltd. 39  2,430 
CG Power & Industrial Solutions Ltd.(1)
641  1,785 
Chalet Hotels Ltd.(1)
51  205 
Chennai Petroleum Corp. Ltd. 934  3,399 
Cholamandalam Financial Holdings Ltd. 208  1,737 
Cholamandalam Investment and Finance Co. Ltd. 2,135  20,917 
Cigniti Technologies Ltd. 36  262 
Cipla Ltd. 1,982  25,683 
City Union Bank Ltd. 3,805  8,515 
Cochin Shipyard Ltd. 396  1,862 
Coforge Ltd. 63  2,777 
Colgate-Palmolive India Ltd. 599  12,577 
Computer Age Management Services Ltd. 201  5,747 
Confidence Petroleum India Ltd. 270  220 
Container Corp. of India Ltd. 1,075  9,325 
Cosmo Films Ltd. 177  2,021 
CreditAccess Grameen Ltd.(1)
641  7,934 
CRISIL Ltd. 66  2,698 
Crompton Greaves Consumer Electricals Ltd. 988  5,027 
Cummins India Ltd. 408  6,059 
Cyient Ltd. 944  9,885 
Dabur India Ltd. 1,009  7,357 
Dalmia Bharat Sugar & Industries Ltd. 176  760 
Datamatics Global Services Ltd. 138  521 
DCB Bank Ltd. 1,457  1,709 
DCM Shriram Ltd. 394  5,142 
Deepak Fertilisers & Petrochemicals Corp. Ltd. 868  9,811 
DEN Networks Ltd.(1)
481  220 
Dhani Services Ltd.(1)
1,040  840 
Dish TV India Ltd.(1)
6,287  941 
Dishman Carbogen Amcis Ltd.(1)
161  234 
Divi's Laboratories Ltd. 348  15,712 
Dixon Technologies India Ltd. 21  1,068 
DLF Ltd. 1,481  7,154 
Dollar Industries Ltd. 80  471 
Dr Lal PathLabs Ltd. 140  4,460 
Dr Reddy's Laboratories Ltd., ADR 447  23,374 
eClerx Services Ltd. 85  2,232 
Edelweiss Financial Services Ltd. 3,272  2,478 
Eicher Motors Ltd. 748  31,218 
EIH Ltd.(1)
281  560 
Elecon Engineering Co. Ltd. 688  3,203 
Electrosteel Castings Ltd. 1,506  689 
Emami Ltd. 1,598  9,673 
Endurance Technologies Ltd. 101  1,885 
Engineers India Ltd. 2,483  2,103 
EPL Ltd. 773  1,643 
Equitas Holdings Ltd.(1)
1,599  1,987 
23

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Eris Lifesciences Ltd. 140  $ 1,209 
Escorts Kubota Ltd. 296  7,379 
Eveready Industries India Ltd.(1)
349  1,548 
Everest Industries Ltd. 78  685 
Everest Kanto Cylinder Ltd. 75  109 
Excel Industries Ltd. 24  435 
Exide Industries Ltd. 4,045  8,077 
FDC Ltd.(1)
41  135 
FIEM Industries Ltd. 69  1,283 
Filatex India Ltd. 645  903 
Fine Organic Industries Ltd. 11  847 
Finolex Cables Ltd. 270  1,550 
Finolex Industries Ltd. 2,058  3,888 
Firstsource Solutions Ltd. 332  441 
Future Consumer Ltd.(1)
2,618  55 
Future Retail Ltd.(1)
209  10 
Gabriel India Ltd. 485  951 
Galaxy Surfactants Ltd. 65  2,657 
Ganesh Housing Corp. Ltd.(1)
109  483 
Ganesha Ecosphere Ltd. 26  210 
Garden Reach Shipbuilders & Engineers Ltd. 425  1,588 
Garware Technical Fibres Ltd. 46  2,003 
Genus Power Infrastructures Ltd. 942  986 
Geojit Financial Services Ltd. 339  193 
GHCL Ltd. 1,095  8,144 
GlaxoSmithKline Pharmaceuticals Ltd. 251  4,579 
Glenmark Pharmaceuticals Ltd. 1,382  6,401 
Globus Spirits Ltd. 96  1,040 
Godrej Agrovet Ltd. 38  248 
Godrej Consumer Products Ltd.(1)
445  5,126 
Godrej Properties Ltd.(1)
33  576 
Gokaldas Exports Ltd.(1)
314  1,407 
Graphite India Ltd. 578  2,959 
Greaves Cotton Ltd. 764  1,610 
Greenpanel Industries Ltd. 376  2,098 
Greenply Industries Ltd. 546  1,278 
GTL Infrastructure Ltd.(1)
7,553  127 
Gufic Biosciences Ltd. 77  202 
Gujarat Alkalies & Chemicals Ltd. 257  2,835 
Gujarat Fluorochemicals Ltd. 6  249 
Gujarat Narmada Valley Fertilizers & Chemicals Ltd. 1,197  11,139 
Gujarat Pipavav Port Ltd. 2,004  2,176 
Gujarat State Fertilizers & Chemicals Ltd. 3,256  6,384 
Happiest Minds Technologies Ltd. 51  648 
Hathway Cable & Datacom Ltd.(1)
3,874  862 
Havells India Ltd. 168  2,908 
HBL Power Systems Ltd. 2,016  2,032 
HCL Technologies Ltd. 3,012  35,035 
HDFC Asset Management Co. Ltd. 115  2,967 
HDFC Life Insurance Co. Ltd. 947  6,786 
HEG Ltd. 98  1,533 
24

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Heritage Foods Ltd. 24  $ 97 
Hero MotoCorp Ltd. 465  16,380 
HFCL Ltd. 5,119  4,700 
HG Infra Engineering Ltd. 123  918 
HIL Ltd. 34  1,568 
Himadri Speciality Chemical Ltd., ADR 515  630 
Himatsingka Seide Ltd.(1)
231  302 
Hindustan Construction Co. Ltd.(1)
1,773  282 
Hindustan Oil Exploration Co. Ltd.(1)
35  71 
Hindustan Unilever Ltd. 837  27,710 
Hindware Home Innovation Ltd. 224  908 
Hitachi Energy India Ltd. 14  652 
Housing Development Finance Corp. Ltd. 3,515  106,418 
ICICI Bank Ltd., ADR 2,255  49,249 
ICICI Lombard General Insurance Co. Ltd. 324  5,205 
ICICI Prudential Life Insurance Co. Ltd. 460  3,396 
IDFC First Bank Ltd.(1)
12,604  7,672 
IFCI Ltd.(1)
4,034  549 
IIFL Finance Ltd. 1,872  8,018 
IIFL Securities Ltd. 789  704 
IIFL Wealth Management Ltd. 201  4,197 
India Glycols Ltd. 91  1,009 
Indiabulls Housing Finance Ltd.(1)
2,134  3,599 
Indiabulls Real Estate Ltd.(1)
3,275  3,521 
Indian Energy Exchange Ltd. 1,415  2,820 
Indian Metals & Ferro Alloys Ltd. 35  120 
Indian Railway Catering & Tourism Corp. Ltd. 133  1,167 
Indo Count Industries Ltd. 105  214 
Indo Rama Synthetics India Ltd(1)
481  374 
Indoco Remedies Ltd. 20  89 
Indus Towers Ltd. 4,172  10,375 
INEOS Styrolution India Ltd. 34  392 
Infibeam Avenues Ltd. 814  160 
Info Edge India Ltd. 50  2,690 
Infosys Ltd., ADR 6,772  123,928 
Inox Wind Ltd.(1)
156  216 
Insecticides India Ltd.(1)
90  1,136 
Intellect Design Arena Ltd. 565  4,147 
InterGlobe Aviation Ltd.(1)
93  2,322 
IOL Chemicals and Pharmaceuticals Ltd. 258  1,154 
ISGEC Heavy Engineering Ltd. 33  197 
ITD Cementation India Ltd. 163  215 
J Kumar Infraprojects Ltd. 871  3,231 
Jai Corp. Ltd. 533  869 
Jain Irrigation Systems Ltd.(1)
2,789  1,404 
Jaiprakash Associates Ltd.(1)
6,016  614 
Jaiprakash Power Ventures Ltd.(1)
31,117  2,910 
Jammu & Kashmir Bank Ltd.(1)
2,604  1,024 
Jamna Auto Industries Ltd. 2,306  3,345 
Jindal Poly Films Ltd. 165  2,160 
JK Paper Ltd. 1,226  6,370 
25

Avantis Responsible Emerging Markets Equity ETF
Shares Value
JK Tyre & Industries Ltd. 1,109  $ 1,922 
JM Financial Ltd. 3,659  2,906 
JSW Ispat Special Products Ltd.(1)
633  223 
Jubilant Foodworks Ltd. 1,429  10,885 
Jubilant Ingrevia Ltd. 51  296 
Jubilant Pharmova Ltd. 241  1,055 
Just Dial Ltd.(1)
23  169 
Jyothy Labs Ltd. 831  1,959 
Kajaria Ceramics Ltd. 389  5,641 
Kansai Nerolac Paints Ltd. 113  713 
Karnataka Bank Ltd. 2,387  2,223 
Karur Vysya Bank Ltd. 5,479  4,655 
KEC International Ltd. 1,170  5,939 
KEI Industries Ltd. 97  1,768 
Kellton Tech Solutions Ltd. 119  102 
Kiri Industries Ltd.(1)
107  654 
Kirloskar Ferrous Industries Ltd. 607  1,918 
Kitex Garments Ltd. 301  858 
KNR Constructions Ltd. 1,170  3,795 
Kolte-Patil Developers Ltd. 131  502 
Kotak Mahindra Bank Ltd. 1,014  24,056 
KPIT Technologies Ltd. 264  1,824 
KPR Mill Ltd. 458  3,444 
KRBL Ltd. 598  2,345 
Lemon Tree Hotels Ltd.(1)
409  354 
LG Balakrishnan & Bros Ltd. 94  815 
LIC Housing Finance Ltd. 3,127  15,889 
Linde India Ltd. 87  3,713 
LT Foods Ltd. 1,149  1,362 
Lupin Ltd. 1,004  8,390 
LUX Industries Ltd. 48  1,087 
Maharashtra Seamless Ltd. 210  2,194 
Mahindra & Mahindra Financial Services Ltd. 5,394  13,738 
Mahindra & Mahindra Ltd. 2,774  45,024 
Mahindra CIE Automotive Ltd. 1,355  4,629 
Mahindra Lifespace Developers Ltd. 220  1,422 
Mahindra Logistics Ltd. 31  186 
Maithan Alloys Ltd. 69  888 
Man Infraconstruction Ltd. 158  178 
Manali Petrochemicals Ltd. 1,472  1,691 
Manappuram Finance Ltd. 3,576  4,698 
Marico Ltd. 1,356  8,902 
Marksans Pharma Ltd. 1,394  906 
Maruti Suzuki India Ltd. 267  30,117 
MAS Financial Services Ltd. 72  674 
Mastek Ltd. 56  1,312 
Mayur Uniquoters Ltd. 41  248 
Meghmani Finechem Ltd.(1)
203  3,597 
Meghmani Organics Ltd. 1,526  2,317 
Metropolis Healthcare Ltd. 81  1,444 
Minda Corp. Ltd. 307  858 
26

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Mirza International Ltd.(1)
663  $ 2,631 
Mishra Dhatu Nigam Ltd. 309  768 
MOIL Ltd. 132  270 
Monte Carlo Fashions Ltd. 87  897 
Motherson Sumi Wiring India Ltd. 1,051  1,068 
Motilal Oswal Financial Services Ltd. 299  2,866 
Mphasis Ltd. 366  9,629 
MRF Ltd. 11  11,725 
Mrs Bectors Food Specialities Ltd. 120  521 
MSTC Ltd. 182  618 
Multi Commodity Exchange of India Ltd. 6  96 
Muthoot Finance Ltd. 558  7,310 
Narayana Hrudayalaya Ltd. 167  1,460 
Natco Pharma Ltd. 452  3,476 
National Aluminium Co. Ltd. 4,225  4,207 
National Fertilizers Ltd.(1)
712  445 
Nava Ltd. 1,023  2,881 
NBCC India Ltd. 4,351  1,862 
Neogen Chemicals Ltd. 29  535 
Nestle India Ltd. 80  19,918 
Neuland Laboratories Ltd. 10  158 
Newgen Software Technologies Ltd. 110  537 
NIIT Ltd. 525  2,259 
Nippon Life India Asset Management Ltd. 804  3,023 
NOCIL Ltd. 855  2,805 
Oberoi Realty Ltd. 508  6,350 
Olectra Greentech Ltd.(1)
242  1,860 
Omaxe Ltd.(1)
298  369 
OnMobile Global Ltd. 473  729 
Oracle Financial Services Software Ltd. 176  6,953 
Orient Cement Ltd. 1,177  1,756 
Orient Electric Ltd. 781  2,531 
Page Industries Ltd. 21  13,379 
Paisalo Digital Ltd. 250  234 
Panama Petrochem Ltd. 251  1,013 
PC Jeweller Ltd.(1)
3,055  2,710 
PCBL Ltd. 2,264  3,870 
Persistent Systems Ltd. 210  9,133 
PG Electroplast Ltd.(1)
56  624 
Phoenix Mills Ltd. 121  2,116 
PI Industries Ltd. 152  6,499 
Pidilite Industries Ltd. 146  4,984 
Piramal Enterprises Ltd. 239  3,154 
Piramal Pharma Ltd.(1)
956  2,621 
PNB Housing Finance Ltd.(1)
488  2,117 
Pokarna Ltd. 11  76 
Polycab India Ltd. 74  2,270 
Polyplex Corp. Ltd. 250  6,687 
Poonawalla Fincorp Ltd. 37  140 
Power Grid Corp. of India Ltd. 14,833  42,468 
Power Mech Projects Ltd.(1)
38  668 
27

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Praj Industries Ltd. 1,308  $ 6,803 
Prakash Industries Ltd.(1)
468  327 
Prestige Estates Projects Ltd. 567  3,220 
Pricol Ltd.(1)
1,179  2,536 
Prince Pipes & Fittings Ltd. 312  2,274 
Privi Speciality Chemicals Ltd. 37  640 
Procter & Gamble Health Ltd. 4  211 
PSP Projects Ltd. 83  627 
PTC India Ltd. 2,192  2,314 
Quess Corp. Ltd. 49  349 
Radico Khaitan Ltd. 329  4,284 
Rajesh Exports Ltd. 131  965 
Rallis India Ltd. 274  771 
Ramco Systems Ltd.(1)
27  97 
Ramkrishna Forgings Ltd. 143  355 
Rashtriya Chemicals & Fertilizers Ltd. 2,073  2,550 
RattanIndia Power Ltd.(1)
2,552  125 
Raymond Ltd. 534  6,362 
RBL Bank Ltd.(1)
1,741  2,628 
REC Ltd. 11,504  15,620 
Redington India Ltd. 4,653  8,682 
Relaxo Footwears Ltd. 151  1,884 
Reliance Industrial Infrastructure Ltd. 30  380 
Religare Enterprises Ltd.(1)
56  91 
Rhi Magnesita India Ltd. 246  1,809 
Route Mobile Ltd. 62  1,164 
RSWM Ltd. 144  692 
Rupa & Co. Ltd. 235  1,002 
Samvardhana Motherson International Ltd. 5,286  8,063 
Sansera Engineering Ltd. 57  517 
Sarda Energy & Minerals Ltd. 96  1,096 
Saregama India Ltd. 326  1,631 
Satia Industries Ltd. 456  656 
SBI Cards & Payment Services Ltd. 335  3,841 
SBI Life Insurance Co. Ltd. 538  8,891 
Schaeffler India Ltd. 201  7,607 
Schneider Electric Infrastructure Ltd.(1)
102  173 
SEAMEC Ltd.(1)
7  95 
Sequent Scientific Ltd. 193  271 
Shakti Pumps India Ltd. 49  302 
Shankara Building Products Ltd. 97  922 
Sharda Cropchem Ltd. 351  2,266 
Share India Securities Ltd. 155  2,164 
Shipping Corp. of India Ltd. 1,242  1,824 
Shoppers Stop Ltd.(1)
361  2,798 
Shree Renuka Sugars Ltd.(1)
996  578 
Shriram City Union Finance Ltd. 266  6,323 
Shriram Transport Finance Co. Ltd. 1,517  25,462 
Siemens Ltd. 88  3,160 
Siyaram Silk Mills Ltd. 139  870 
SKF India Ltd. 82  4,976 
28

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Sobha Ltd. 233  $ 2,018 
Sonata Software Ltd. 689  6,101 
South Indian Bank Ltd.(1)
9,292  952 
Southern Petrochemical Industries Corp. Ltd.(1)
1,412  1,074 
Spandana Sphoorty Financial Ltd.(1)
187  1,274 
SRF Ltd. 243  7,669 
State Bank of India, GDR 375  24,772 
Steel Strips Wheels Ltd 30  326 
Sterling and Wilson Renewable(1)
333  1,229 
Sterlite Technologies Ltd. 1,461  3,115 
Stove Kraft Ltd.(1)
44  335 
Sudarshan Chemical Industries Ltd. 325  1,860 
Sumitomo Chemical India Ltd. 255  1,557 
Sun Pharmaceutical Industries Ltd. 2,729  30,456 
Sun TV Network Ltd. 844  5,272 
Sundaram Finance Ltd. 138  3,617 
Sundram Fasteners Ltd. 523  5,454 
Sunflag Iron & Steel Co.(1)
525  576 
Sunteck Realty Ltd. 323  1,912 
Suprajit Engineering Ltd. 837  3,541 
Supreme Industries Ltd. 254  6,234 
Surya Roshni Ltd. 18  110 
Suven Pharmaceuticals Ltd. 645  3,950 
Suzlon Energy Ltd.(1)
7,871  799 
Syngene International Ltd. 449  3,355 
Tamil Nadu Newsprint & Papers Ltd. 570  1,813 
Tamilnadu Petroproducts Ltd. 713  900 
Tanla Platforms Ltd. 276  2,443 
Tata Coffee Ltd. 130  379 
Tata Communications Ltd. 432  6,461 
Tata Consultancy Services Ltd. 1,704  67,958 
Tata Consumer Products Ltd. 647  6,539 
Tata Elxsi Ltd. 96  10,708 
Tata Investment Corp. Ltd. 63  1,260 
Tata Metaliks Ltd. 112  1,081 
Tata Motors Ltd., ADR(1)
755  21,895 
Tata Steel Long Products Ltd. 18  140 
Tata Teleservices Maharashtra Ltd.(1)
595  806 
TCI Express Ltd. 31  682 
TeamLease Services Ltd.(1)
66  2,796 
Tech Mahindra Ltd. 1,270  16,921 
Technocraft Industries India Ltd(1)
45  506 
Tejas Networks Ltd.(1)
62  471 
Texmaco Rail & Engineering Ltd. 1,729  1,076 
Thermax Ltd. 262  7,887 
Thirumalai Chemicals Ltd. 919  2,675 
Thomas Cook India Ltd.(1)
224  202 
Thyrocare Technologies Ltd. 49  378 
Time Technoplast Ltd. 2,038  3,020 
Tinplate Co. of India Ltd. 367  1,441 
Titagarh Wagons Ltd.(1)
644  1,371 
29

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Titan Co. Ltd. 243  $ 7,874 
Torrent Pharmaceuticals Ltd. 508  9,816 
Transport Corp. of India Ltd. 155  1,379 
Trent Ltd. 138  2,414 
Trident Ltd. 4,876  2,209 
Triveni Engineering & Industries Ltd. 196  573 
Triveni Turbine Ltd. 635  1,617 
TTK Prestige Ltd. 72  862 
Tube Investments of India Ltd. 450  12,688 
TV Today Network Ltd. 140  494 
TV18 Broadcast Ltd.(1)
2,561  1,295 
TVS Motor Co. Ltd. 236  2,889 
Uflex Ltd. 694  6,766 
Ujjivan Financial Services Ltd.(1)
265  645 
United Spirits Ltd.(1)
973  9,835 
UPL Ltd. 794  7,605 
Usha Martin Ltd. 1,303  2,297 
UTI Asset Management Co. Ltd. 164  1,681 
VA Tech Wabag Ltd.(1)
349  1,146 
Vaibhav Global Ltd. 295  1,274 
Vakrangee Ltd. 3,921  1,353 
Valiant Organics Ltd.(1)
107  792 
Vardhman Textiles Ltd. 423  1,746 
Varroc Engineering Ltd.(1)
466  1,992 
Varun Beverages Ltd. 520  6,707 
Venky's India Ltd. 35  913 
Vodafone Idea Ltd.(1)
14,569  1,634 
Voltamp Transformers Ltd. 50  1,730 
VRL Logistics Ltd. 441  3,406 
Welspun Corp. Ltd. 2,059  5,773 
Welspun Enterprises Ltd. 370  522 
Welspun India Ltd. 1,532  1,469 
West Coast Paper Mills Ltd. 271  2,125 
Westlife Development Ltd.(1)
18  145 
Whirlpool of India Ltd. 24  546 
Wipro Ltd., ADR 2,152  10,782 
Wonderla Holidays Ltd.(1)
85  382 
Yes Bank Ltd.(1)
68,455  14,031 
Zee Entertainment Enterprises Ltd. 5,645  17,985 
Zee Media Corp. Ltd.(1)
1,302  302 
Zen Technologies Ltd. 88  228 
Zensar Technologies Ltd. 389  1,105 
2,251,561 
Indonesia — 2.3%
Ace Hardware Indonesia Tbk PT 35,200  1,708 
Adi Sarana Armada Tbk PT(1)
6,100  599 
Aneka Gas Industri Tbk PT 5,500  774 
Bank BTPN Syariah Tbk PT 9,600  1,913 
Bank Bukopin Tbk PT(1)
79,300  977 
Bank Central Asia Tbk PT 59,600  32,912 
Bank Mandiri Persero Tbk PT 63,200  37,609 
30

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Bank Negara Indonesia Persero Tbk PT 21,400  $ 12,274 
Bank Pan Indonesia Tbk PT 25,300  3,401 
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 24,400  2,285 
Bank Pembangunan Daerah Jawa Timur Tbk PT 18,900  917 
Bank Rakyat Indonesia Persero Tbk PT 103,900  30,342 
Bank Tabungan Negara Persero Tbk PT 23,300  2,361 
Barito Pacific Tbk PT 18,000  994 
BFI Finance Indonesia Tbk PT 51,800  4,358 
Buana Lintas Lautan Tbk PT(1)
106,500  1,213 
Bumi Serpong Damai Tbk PT(1)
39,300  2,433 
Bundamedik Tbk PT 12,100  468 
Ciputra Development Tbk PT 85,600  5,476 
Dharma Satya Nusantara Tbk PT 72,400  2,460 
Erajaya Swasembada Tbk PT 84,100  2,763 
Global Mediacom Tbk PT(1)
104,400  2,531 
Indosat Tbk PT 9,400  4,538 
Industri Jamu Dan Farmasi Sido Muncul Tbk PT 33,700  1,611 
Jaccs Mitra Pinasthika Mustika Tbk PT 7,200  495 
Jasa Marga Persero Tbk PT(1)
19,400  4,493 
Kalbe Farma Tbk PT 23,600  2,669 
Kino Indonesia Tbk PT 1,300  208 
Link Net Tbk PT(1)
12,600  4,032 
Lippo Karawaci Tbk PT(1)
74,300  575 
Mark Dynamics Indonesia Tbk PT 4,400  271 
Matahari Department Store Tbk PT 10,100  2,609 
Matahari Putra Prima Tbk PT(1)
24,000  301 
Media Nusantara Citra Tbk PT 59,700  3,677 
Mitra Adiperkasa Tbk PT(1)
105,700  7,182 
Mitra Keluarga Karyasehat Tbk PT 34,800  6,234 
MNC Kapital Indonesia Tbk PT(1)
105,100  815 
MNC Vision Networks Tbk PT(1)
22,500  141 
Multipolar Tbk PT(1)
14,900  153 
Pabrik Kertas Tjiwi Kimia Tbk PT 5,800  2,645 
Pacific Strategic Financial Tbk PT(1)
35,200  2,834 
Pakuwon Jati Tbk PT 97,000  3,162 
Panin Financial Tbk PT 115,300  2,966 
PP Persero Tbk PT(1)
29,300  1,991 
PT Adaro Minerals Indonesia Tbk(1)
42,500  4,901 
PT Berkah Beton Sadaya Tbk 7,300  2,249 
PT Blue Bird Tbk 12,500  1,166 
PT Lippo Cikarang Tbk 6,700  534 
PT M Cash Integrasi(1)
200  154 
PT Medikaloka Hermina Tbk 50,000  5,025 
PT Sumber Alfaria Trijaya Tbk 91,500  13,429 
PT Temas Tbk 10,600  1,737 
Puradelta Lestari Tbk PT 36,300  430 
Samudera Indonesia Tbk PT 16,300  2,836 
Sarana Menara Nusantara Tbk PT 68,000  5,685 
Sawit Sumbermas Sarana Tbk PT 43,900  4,157 
Smartfren Telecom Tbk PT(1)
888,800  5,929 
Steel Pipe Industry of Indonesia PT 6,500  131 
31

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Summarecon Agung Tbk PT 78,500  $ 3,167 
Surya Citra Media Tbk PT 40,200  612 
Telkom Indonesia Persero Tbk PT, ADR 1,037  31,183 
Tower Bersama Infrastructure Tbk PT 22,700  4,310 
Transcoal Pacific Tbk PT 800  447 
Unilever Indonesia Tbk PT 24,400  7,540 
Wijaya Karya Persero Tbk PT(1)
17,200  1,238 
XL Axiata Tbk PT 24,800  4,391 
305,621 
Malaysia — 1.9%
Aeon Co. M Bhd 6,500  2,127 
AEON Credit Service M Bhd 500  1,572 
Alliance Bank Malaysia Bhd 9,600  7,549 
AMMB Holdings Bhd 13,100  12,176 
Ancom Nylex Bhd(1)
3,000  620 
Ann Joo Resources Bhd 300  70 
Astro Malaysia Holdings Bhd 400  74 
Axiata Group Bhd 4,000  2,713 
Bank Islam Malaysia Bhd 1,100  640 
Berjaya Food Bhd 700  648 
Bermaz Auto Bhd 5,100  2,070 
Boustead Holdings Bhd(1)
12,300  1,786 
Bursa Malaysia Bhd 3,700  5,288 
Carlsberg Brewery Malaysia Bhd 300  1,549 
CIMB Group Holdings Bhd 12,600  15,068 
CTOS Digital Bhd 300  96 
Cypark Resources Bhd(1)
3,300  277 
D&O Green Technologies Bhd 100  85 
Dagang NeXchange Bhd 21,800  4,112 
Dayang Enterprise Holdings Bhd 500  121 
DiGi.Com Bhd 6,600  5,509 
Dufu Technology Corp. Bhd 1,200  756 
Eco World Development Group Bhd 7,800  1,161 
Ekovest Bhd(1)
10,100  864 
Evergreen Fibreboard Bhd 4,000  456 
Fraser & Neave Holdings Bhd 100  499 
Frontken Corp. Bhd 2,800  1,697 
Gamuda Bhd 14,600  12,440 
Greatech Technology Bhd(1)
1,100  869 
Hap Seng Plantations Holdings Bhd 900  454 
Hartalega Holdings Bhd 6,400  2,370 
Heineken Malaysia Bhd 700  3,680 
Hengyuan Refining Co. Bhd(1)
1,100  1,301 
Hiap Teck Venture Bhd 7,600  470 
Hong Leong Bank Bhd 1,100  5,120 
Hong Leong Capital Bhd 300  423 
Hong Leong Financial Group Bhd 400  1,729 
Hong Seng Consolidated Bhd(1)
800  83 
IHH Healthcare Bhd 1,600  2,208 
IJM Corp. Bhd 28,900  11,000 
Inari Amertron Bhd 6,800  4,047 
32

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Innoprise Plantations Bhd 800  $ 282 
IOI Properties Group Bhd 1,100  242 
JAKS Resources Bhd(1)
1,300  76 
KNM Group Bhd(1)
12,700  326 
Kossan Rubber Industries Bhd 9,500  2,138 
Kuala Lumpur Kepong Bhd 800  4,134 
Lingkaran Trans Kota Holdings Bhd 2,300  2,506 
Lotte Chemical Titan Holding Bhd 2,000  763 
Malayan Banking Bhd 9,200  18,405 
Malaysia Airports Holdings Bhd(1)
1,100  1,437 
Malaysia Building Society Bhd 15,500  1,998 
Malaysian Pacific Industries Bhd 300  2,014 
Maxis Bhd 3,300  2,829 
Mega First Corp. Bhd 700  566 
Mieco Chipboard Bhd(1)
700  87 
MR DIY Group M Bhd 4,900  2,365 
My EG Services Bhd 5,300  940 
Nestle Malaysia Bhd 100  2,967 
Pentamaster Corp. Bhd 1,100  975 
Perak Transit Bhd 7,500  1,460 
Petron Malaysia Refining & Marketing Bhd 500  602 
PPB Group Bhd 500  1,965 
Press Metal Aluminium Holdings Bhd 2,000  2,120 
Public Bank Bhd 32,300  33,916 
RHB Bank Bhd 6,800  8,689 
Rubberex Corp. M Bhd(1)
4,200  379 
Scientex Bhd 3,300  2,594 
Sime Darby Bhd 5,600  2,853 
Sime Darby Property Bhd 7,400  791 
SP Setia Bhd Group 9,100  1,517 
Sunway Bhd 3,100  1,132 
Supermax Corp. Bhd 11,400  1,855 
Syarikat Takaful Malaysia Keluarga Bhd 500  371 
Ta Ann Holdings Bhd 2,700  2,403 
TDM Bhd 1,600  75 
Telekom Malaysia Bhd 5,700  7,577 
TIME dotCom Bhd 4,500  4,785 
TSH Resources Bhd 6,400  1,582 
Unisem M Bhd 2,700  1,635 
UWC Bhd 500  431 
Velesto Energy Bhd(1)
11,800  222 
ViTrox Corp. Bhd 200  318 
VS Industry Bhd 4,300  962 
Westports Holdings Bhd 2,000  1,551 
242,612 
Mexico — 2.2%
Alsea SAB de CV(1)
1,600  2,899 
America Movil SAB de CV, Class L ADR 2,375  40,375 
Arca Continental SAB de CV 800  5,415 
Banco del Bajio SA 1,700  3,562 
Becle SAB de CV 2,000  4,076 
33

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Bolsa Mexicana de Valores SAB de CV 100  $ 180 
Controladora Vuela Cia de Aviacion SAB de CV, ADR(1)
394  3,499 
Corp. Inmobiliaria Vesta SAB de CV 4,400  8,135 
Fomento Economico Mexicano SAB de CV, ADR 164  10,285 
Genomma Lab Internacional SAB de CV, Class B 7,000  5,719 
Gentera SAB de CV 12,600  9,875 
Grupo Aeroportuario del Centro Norte SAB de CV, ADR 246  12,858 
Grupo Aeroportuario del Pacifico SAB de CV, ADR 88  12,546 
Grupo Aeroportuario del Sureste SAB de CV, ADR 51  10,785 
Grupo Bimbo SAB de CV, Series A 2,400  8,085 
Grupo Comercial Chedraui SA de CV 1,800  5,108 
Grupo Financiero Banorte SAB de CV, Class O 4,800  28,352 
Grupo Financiero Inbursa SAB de CV, Class O(1)
6,600  10,339 
Grupo Mexico SAB de CV, Series B 6,600  24,865 
Grupo Televisa SAB, ADR 3,128  19,800 
Grupo Traxion SAB de CV(1)
200  221 
Industrias Penoles SAB de CV 800  6,614 
Kimberly-Clark de Mexico SAB de CV, A Shares 4,500  6,109 
La Comer SAB de CV 300  507 
Megacable Holdings SAB de CV 2,300  4,825 
Nemak SAB de CV(1)
22,100  4,662 
Orbia Advance Corp. SAB de CV 4,600  8,677 
Promotora y Operadora de Infraestructura SAB de CV 1,235  8,689 
Qualitas Controladora SAB de CV 1,400  6,133 
Regional SAB de CV 1,100  5,947 
Wal-Mart de Mexico SAB de CV 4,100  13,436 
292,578 
Peru — 0.2%
Credicorp Ltd. 137  17,658 
Intercorp Financial Services, Inc. 299  6,447 
Southern Copper Corp. 134  6,307 
30,412 
Philippines — 0.9%
Ayala Land, Inc. 14,300  7,259 
Bank of the Philippine Islands 4,410  7,446 
BDO Unibank, Inc. 4,910  11,227 
Century Pacific Food, Inc. 900  398 
Converge Information and Communications Technology Solutions, Inc.(1)
8,400  2,590 
Globe Telecom, Inc. 125  4,664 
GT Capital Holdings, Inc. 560  4,796 
International Container Terminal Services, Inc. 2,170  6,989 
Jollibee Foods Corp. 1,750  7,459 
LT Group, Inc. 14,300  2,245 
Manila Electric Co. 590  3,160 
Megaworld Corp. 45,000  1,998 
Metropolitan Bank & Trust Co. 12,650  11,823 
Monde Nissin Corp.(1)
14,900  4,373 
Nickel Asia Corp. 19,900  2,016 
PLDT, Inc., ADR 300  8,724 
Puregold Price Club, Inc. 4,500  2,740 
34

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Robinsons Land Corp. 12,200  $ 4,074 
Robinsons Retail Holdings, Inc. 540  576 
Security Bank Corp. 5,060  8,089 
SM Investments Corp. 150  2,214 
SM Prime Holdings, Inc. 10,400  6,991 
Universal Robina Corp. 1,660  3,603 
Wilcon Depot, Inc. 3,600  1,919 
117,373 
Poland — 0.7%
Alior Bank SA(1)
856  4,726 
Allegro.eu SA(1)
453  2,376 
AmRest Holdings SE(1)
255  1,075 
Asseco Poland SA 49  747 
Bank Handlowy w Warszawie SA 30  379 
Bank Millennium SA(1)
4,838  3,888 
Bank Polska Kasa Opieki SA 543  7,512 
CCC SA(1)
18  144 
CD Projekt SA 218  3,888 
Cyfrowy Polsat SA 119  491 
Dino Polska SA(1)
105  7,660 
KGHM Polska Miedz SA 673  12,612 
LiveChat Software SA 28  621 
LPP SA 4  7,202 
mBank SA(1)
38  1,746 
Orange Polska SA 8,232  10,490 
Powszechna Kasa Oszczednosci Bank Polski SA 1,343  6,700 
Powszechny Zaklad Ubezpieczen SA 1,016  6,082 
Santander Bank Polska SA 119  5,407 
TEN Square Games SA 11  227 
Warsaw Stock Exchange 53  388 
XTB SA 400  1,856 
86,217 
Romania†
MAS PLC 350  414 
South Africa — 3.9%
Absa Group Ltd. 2,485  25,738 
AECI Ltd. 880  4,261 
Anglo American Platinum Ltd. 90  6,283 
AngloGold Ashanti Ltd., ADR 1,717  23,145 
Aspen Pharmacare Holdings Ltd. 946  8,118 
Astral Foods Ltd. 560  6,753 
AVI Ltd. 1,582  6,795 
Barloworld Ltd. 990  5,039 
Bid Corp. Ltd. 184  3,485 
Capitec Bank Holdings Ltd. 95  11,296 
Clicks Group Ltd. 603  10,484 
Coronation Fund Managers Ltd. 780  1,436 
DataTec Ltd. 577  1,429 
Dis-Chem Pharmacies Ltd. 1,671  3,459 
Discovery Ltd.(1)
840  6,019 
FirstRand Ltd. 6,738  25,167 
35

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Foschini Group Ltd. 483  $ 3,576 
Gold Fields Ltd., ADR 1,927  15,589 
Grindrod Shipping Holdings Ltd. 161  3,789 
Impala Platinum Holdings Ltd. 2,146  22,487 
Investec Ltd. 1,083  5,085 
KAP Industrial Holdings Ltd. 27,736  7,348 
Kumba Iron Ore Ltd. 149  3,299 
Life Healthcare Group Holdings Ltd. 3,034  3,555 
Merafe Resources Ltd. 11,416  865 
Momentum Metropolitan Holdings 10,635  10,316 
Motus Holdings Ltd. 1,234  8,362 
Mr Price Group Ltd. 910  9,858 
MTN Group Ltd. 3,220  23,306 
MultiChoice Group 1,818  12,277 
Naspers Ltd.,, N Shares 166  23,407 
Nedbank Group Ltd. 1,593  18,803 
NEPI Rockcastle SA 2,190  11,670 
Netcare Ltd. 6,448  5,525 
Ninety One Ltd. 714  1,609 
Oceana Group Ltd. 26  83 
Old Mutual Ltd. 27,470  16,274 
Omnia Holdings Ltd. 1,610  5,805 
Pepkor Holdings Ltd. 1,698  1,994 
Pick n Pay Stores Ltd. 1,804  6,510 
PPC Ltd.(1)
13,102  1,948 
Rand Merchant Investment Holdings Ltd. 3,166  4,998 
Raubex Group Ltd. 524  1,067 
Reinet Investments SCA 701  11,482 
Remgro Ltd. 1,986  14,727 
Reunert Ltd. 980  2,570 
RMB Holdings Ltd.(1)
2,200  231 
Royal Bafokeng Platinum Ltd. 776  6,578 
Sanlam Ltd. 2,578  8,015 
Santam Ltd. 212  3,009 
Sappi Ltd.(1)
6,753  18,001 
Shoprite Holdings Ltd. 515  6,983 
SPAR Group Ltd. 561  5,120 
Standard Bank Group Ltd. 2,875  25,655 
Steinhoff International Holdings NV(1)
15,326  2,084 
Telkom SA SOC Ltd.(1)
1,997  5,125 
Tiger Brands Ltd. 622  6,052 
Transaction Capital Ltd. 121  266 
Truworths International Ltd. 2,462  8,210 
Vodacom Group Ltd. 903  6,647 
Wilson Bayly Holmes-Ovcon Ltd. 21  108 
Woolworths Holdings Ltd. 863  2,815 
511,990 
South Korea — 13.4%
Advanced Nano Products Co. Ltd. 15  1,079 
Aekyung Industrial Co. Ltd. 22  229 
AfreecaTV Co. Ltd. 21  1,192 
36

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Agabang&Company(1)
104  $ 326 
Ahnlab, Inc. 19  1,182 
Aju IB Investment Co. Ltd. 40  87 
Alteogen, Inc.(1)
25  1,179 
Amorepacific Corp. 49  4,466 
AMOREPACIFIC Group 85  2,200 
Ananti, Inc.(1)
673  3,406 
BGF Co. Ltd. 183  551 
BGF retail Co. Ltd. 57  6,827 
BH Co. Ltd. 57  1,333 
Binex Co. Ltd.(1)
79  876 
Bioneer Corp.(1)
28  625 
BNK Financial Group, Inc. 2,222  11,080 
Bukwang Pharmaceutical Co. Ltd. 34  228 
Byucksan Corp. 247  478 
Celltrion Healthcare Co. Ltd. 71  3,799 
Celltrion, Inc. 188  26,462 
Chabiotech Co. Ltd.(1)
26  330 
Cheil Worldwide, Inc. 333  5,429 
CJ CheilJedang Corp. 23  6,977 
CJ ENM Co. Ltd. 79  5,758 
CJ Logistics Corp.(1)
40  3,526 
Classys, Inc. 88  930 
Com2uSCorp 10  599 
Coreana Cosmetics Co. Ltd.(1)
63  145 
CosmoAM&T Co. Ltd.(1)
14  669 
Coway Co. Ltd. 308  14,613 
CS Wind Corp. 63  3,210 
Cuckoo Homesys Co. Ltd. 81  1,914 
Dae Han Flour Mills Co. Ltd. 6  655 
Daeduck Electronics Co. Ltd. 378  8,289 
Daewoo Engineering & Construction Co. Ltd.(1)
1,968  7,589 
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(1)
53  791 
Daishin Securities Co. Ltd. 177  2,027 
Daol Investment & Securities Co. Ltd. 693  2,365 
Daou Technology, Inc. 278  3,887 
DB HiTek Co. Ltd. 169  5,801 
DB Insurance Co. Ltd. 366  16,299 
Dentium Co. Ltd. 14  911 
DGB Financial Group, Inc. 1,456  8,070 
DI Dong Il Corp. 20  263 
DL E&C Co. Ltd. 230  6,981 
DL Holdings Co. Ltd. 69  3,424 
Dong-A Socio Holdings Co. Ltd. 11  890 
Dongwha Enterprise Co. Ltd.(1)
11  553 
Dongwon Development Co. Ltd. 33  91 
Doosan Bobcat, Inc. 54  1,388 
Doosan Co. Ltd. 6  367 
Doosan Enerbility Co. Ltd.(1)
474  7,124 
Doosan Fuel Cell Co. Ltd.(1)
13  368 
DoubleUGames Co. Ltd. 20  638 
37

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Douzone Bizon Co. Ltd. 30  $ 804 
Dreamtech Co. Ltd. 48  336 
Duk San Neolux Co. Ltd.(1)
21  561 
E-MART, Inc. 79  5,735 
Echo Marketing, Inc. 84  1,008 
Ecopro BM Co. Ltd. 38  3,144 
Eo Technics Co. Ltd. 12  669 
Eugene Technology Co. Ltd. 25  507 
F&F Co. Ltd. / New 16  1,688 
Fila Holdings Corp. 177  4,088 
Genexine, Inc.(1)
87  1,963 
GOLFZON Co. Ltd. 34  3,342 
Gradiant Corp. 21  291 
Green Cross Corp. 13  1,587 
GS Engineering & Construction Corp. 531  11,878 
GS Retail Co. Ltd. 377  7,127 
Halla Holdings Corp. 51  1,458 
Hana Financial Group, Inc. 1,408  41,038 
Hana Micron, Inc.(1)
343  3,250 
Handsome Co. Ltd. 153  3,226 
Hanjin Transportation Co. Ltd. 81  1,552 
Hankook Tire & Technology Co. Ltd. 342  9,642 
Hanmi Semiconductor Co. Ltd. 125  1,110 
Hanon Systems 550  4,206 
Hansae Co. Ltd. 27  317 
Hansol Chemical Co. Ltd. 34  5,491 
Hanssem Co. Ltd. 45  1,800 
Hanwha Investment & Securities Co. Ltd. 432  995 
Hanwha Life Insurance Co. Ltd.(1)
2,381  4,085 
Hanwha Solutions Corp.(1)
387  15,090 
Hanwha Systems Co. Ltd. 123  1,419 
HDC Hyundai Development Co-Engineering & Construction, E Shares 178  1,645 
Hite Jinro Co. Ltd. 136  3,087 
HMM Co. Ltd. 1,539  25,363 
Hotel Shilla Co. Ltd. 39  2,136 
Huchems Fine Chemical Corp. 102  1,612 
Hugel, Inc.(1)
19  1,720 
Humax Co. Ltd.(1)
333  989 
Humedix Co. Ltd. 72  1,270 
Hwaseung Enterprise Co. Ltd. 36  354 
HYBE Co. Ltd.(1)
8  1,072 
Hyosung Chemical Corp.(1)
3  385 
Hyosung Corp. 31  1,723 
Hyosung Heavy Industries Corp.(1)
32  1,755 
Hyosung TNC Corp. 22  5,116 
Hyundai Autoever Corp. 20  1,784 
Hyundai Construction Equipment Co. Ltd. 65  1,962 
Hyundai Corp. 30  408 
Hyundai Department Store Co. Ltd. 122  5,612 
Hyundai Doosan Infracore Co. Ltd.(1)
408  1,867 
38

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Hyundai Electric & Energy System Co. Ltd.(1)
295  $ 6,984 
Hyundai Elevator Co. Ltd. 77  1,674 
Hyundai Engineering & Construction Co. Ltd. 477  17,056 
Hyundai Futurenet Co. Ltd. 86  172 
Hyundai Greenfood Co. Ltd. 323  1,850 
Hyundai Heavy Industries Co. Ltd.(1)
55  5,853 
Hyundai Home Shopping Network Corp. 59  2,198 
Hyundai Marine & Fire Insurance Co. Ltd. 594  13,934 
Hyundai Mipo Dockyard Co. Ltd.(1)
62  4,922 
Hyundai Mobis Co. Ltd. 105  16,745 
Hyundai Motor Co. 362  52,592 
Hyundai Rotem Co. Ltd.(1)
119  2,672 
Hyundai Wia Corp. 75  4,221 
i-SENS, Inc. 26  725 
iMarketKorea, Inc. 135  1,044 
Industrial Bank of Korea 1,502  10,695 
Innocean Worldwide, Inc. 85  2,688 
Innox Advanced Materials Co. Ltd. 56  1,434 
Insun ENT Co. Ltd.(1)
102  817 
Interflex Co. Ltd.(1)
17  157 
INTOPS Co. Ltd. 69  1,539 
iNtRON Biotechnology, Inc.(1)
89  757 
IS Dongseo Co. Ltd. 128  3,515 
JB Financial Group Co. Ltd. 1,047  5,915 
Jusung Engineering Co. Ltd. 342  4,022 
JYP Entertainment Corp. 116  5,252 
K Car Co. Ltd. 17  271 
Kakao Corp. 280  15,205 
Kakao Games Corp.(1)
78  3,042 
KakaoBank Corp.(1)
108  2,187 
KB Financial Group, Inc., ADR 1,309  47,883 
KC Co. Ltd. 71  950 
KC Tech Co. Ltd. 77  929 
KCC Corp. 17  3,712 
KEPCO Engineering & Construction Co., Inc. 40  2,177 
KH Vatec Co. Ltd. 168  2,365 
Kia Corp. 904  54,184 
KISCO Corp. 93  478 
KIWOOM Securities Co. Ltd. 152  9,659 
Koh Young Technology, Inc. 97  1,016 
KONA I Co. Ltd.(1)
14  168 
Korea Circuit Co. Ltd.(1)
10  140 
Korea Investment Holdings Co. Ltd. 324  13,661 
Korea Petrochemical Ind Co. Ltd. 36  3,252 
Korea Real Estate Investment & Trust Co. Ltd. 715  866 
Korea Shipbuilding & Offshore Engineering Co. Ltd.(1)
270  19,486 
Korean Air Lines Co. Ltd.(1)
928  18,444 
Korean Reinsurance Co. 445  2,768 
Krafton, Inc.(1)
28  5,115 
Kukjeon Pharmaceutical Co. Ltd. 13  84 
Kumho Petrochemical Co. Ltd. 143  13,793 
39

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Kumho Tire Co., Inc.(1)
454  $ 1,172 
Kyung Dong Navien Co. Ltd. 15  483 
L&F Co. Ltd.(1)
19  3,222 
LEENO Industrial, Inc. 28  2,980 
LF Corp. 203  2,557 
LG Display Co. Ltd., ADR 1,752  10,021 
LG Electronics, Inc. 216  16,163 
LG Energy Solution Ltd.(1)
15  5,141 
LG H&H Co. Ltd. 20  10,591 
LG Innotek Co. Ltd. 74  18,837 
LG Uplus Corp. 1,698  14,542 
Lotte Chemical Corp. 87  11,296 
Lotte Chilsung Beverage Co. Ltd. 33  3,797 
Lotte Data Communication Co. 27  540 
LOTTE Fine Chemical Co. Ltd. 156  8,162 
LOTTE Himart Co. Ltd. 6  70 
Lotte Rental Co. Ltd. 179  4,754 
Lotte Shopping Co. Ltd. 96  7,047 
LS Corp. 84  4,186 
LS Electric Co. Ltd. 77  3,194 
LVMC Holdings(1)
647  1,449 
LX Hausys Ltd. 36  1,203 
LX Holdings Corp.(1)
448  2,795 
LX Semicon Co. Ltd. 91  6,403 
Maeil Dairies Co. Ltd. 36  1,539 
Mando Corp. 259  10,352 
Mcnex Co. Ltd. 33  905 
Medytox, Inc.(1)
7  637 
MegaStudyEdu Co. Ltd. 77  4,479 
Meritz Financial Group, Inc. 177  4,057 
Meritz Fire & Marine Insurance Co. Ltd. 172  4,911 
Meritz Securities Co. Ltd. 2,076  7,482 
Mirae Asset Securities Co. Ltd. 1,679  8,188 
NAVER Corp. 99  17,567 
NCSoft Corp. 44  12,365 
Neowiz(1)
52  1,517 
NEPES Corp.(1)
59  954 
Netmarble Corp. 13  613 
Nexen Tire Corp. 202  999 
NEXTIN, Inc. 25  1,051 
NH Investment & Securities Co. Ltd. 1,039  7,692 
NHN Corp.(1)
45  845 
NHN KCP Corp.(1)
27  254 
NICE Holdings Co. Ltd. 180  1,833 
NICE Information Service Co. Ltd. 176  1,882 
NongShim Co. Ltd. 13  2,906 
OCI Co. Ltd. 87  7,570 
Ottogi Corp. 8  2,863 
Pan Ocean Co. Ltd. 2,747  10,511 
Partron Co. Ltd. 361  2,326 
Pearl Abyss Corp.(1)
35  1,472 
40

Avantis Responsible Emerging Markets Equity ETF
Shares Value
PharmaResearch Co. Ltd. 30  $ 1,503 
PI Advanced Materials Co. Ltd. 57  1,574 
Pulmuone Co. Ltd. 21  215 
S&S Tech Corp. 16  262 
S-1 Corp. 72  3,126 
Sam Young Electronics Co. Ltd. 51  414 
Samsung Biologics Co. Ltd.(1)
24  14,927 
Samsung C&T Corp. 156  13,968 
Samsung Electro-Mechanics Co. Ltd. 230  23,813 
Samsung Electronics Co. Ltd., GDR 255  278,860 
Samsung Fire & Marine Insurance Co. Ltd. 185  26,887 
Samsung Heavy Industries Co. Ltd.(1)
4,709  20,893 
Samsung Life Insurance Co. Ltd. 339  15,646 
Samsung Pharmaceutical Co. Ltd.(1)
37  100 
Samsung SDI Co. Ltd. 66  29,179 
Samsung SDS Co. Ltd. 72  6,872 
Samsung Securities Co. Ltd. 437  11,002 
Samwha Capacitor Co. Ltd. 12  373 
Sangsangin Co. Ltd. 450  2,863 
SD Biosensor, Inc. 172  4,497 
SeAH Steel Corp. 18  2,556 
SeAH Steel Holdings Corp. 10  1,356 
Sebang Global Battery Co. Ltd. 23  889 
Seegene, Inc. 154  3,608 
Seobu T&D 47  280 
Seojin System Co. Ltd. 70  785 
Seoul Semiconductor Co. Ltd. 60  513 
SFA Engineering Corp. 81  2,473 
SFA Semicon Co. Ltd.(1)
398  1,517 
SGC Energy Co. Ltd. 6  167 
Shinhan Financial Group Co. Ltd., ADR 1,718  45,888 
Shinsegae International, Inc. 94  1,949 
Shinsegae, Inc. 61  10,110 
SK Bioscience Co. Ltd.(1)
19  1,591 
SK Chemicals Co. Ltd. 56  4,060 
SK Hynix, Inc. 1,363  95,830 
SK IE Technology Co. Ltd.(1)
23  1,415 
SK Networks Co. Ltd. 1,417  4,791 
SK Securities Co. Ltd. 2,515  1,410 
SK Telecom Co. Ltd., ADR 199  4,249 
SKC Co. Ltd. 27  2,426 
SL Corp. 80  2,281 
SM Entertainment Co. Ltd. 51  2,617 
Soulbrain Holdings Co. Ltd. 5  84 
STIC Investments, Inc. 42  234 
Studio Dragon Corp.(1)
30  1,689 
Sung Kwang Bend Co. Ltd. 108  1,315 
Taewoong Co. Ltd.(1)
36  367 
Taihan Electric Wire Co. Ltd.(1)
697  968 
TES Co. Ltd. 133  1,962 
TK Corp. 105  1,514 
41

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Value Added Technology Co. Ltd. 33  $ 823 
Vidente Co. Ltd.(1)
70  453 
Webzen, Inc.(1)
48  661 
Wemade Co. Ltd. 41  1,877 
WONIK IPS Co. Ltd. 79  1,635 
Wonik QnC Corp. 106  2,149 
Woongjin Thinkbig Co. Ltd. 476  912 
Woori Financial Group, Inc. 2,664  24,098 
Woori Investment Bank Co. Ltd. 3,924  2,582 
Woori Technology Investment Co. Ltd.(1)
501  2,175 
YG Entertainment, Inc. 26  1,168 
Youngone Corp. 91  3,013 
Youngone Holdings Co. Ltd. 62  2,443 
Yuhan Corp. 65  2,749 
Zinus, Inc. 23  742 
1,744,734 
Taiwan — 17.1%
Accton Technology Corp. 1,000  9,209 
Acer, Inc. 15,000  10,773 
ACES Electronic Co. Ltd. 1,000  1,217 
Acter Group Corp. Ltd. 1,000  6,949 
Advanced International Multitech Co. Ltd. 1,000  3,318 
Advantech Co. Ltd. 1,000  10,668 
AGV Products Corp. 2,000  652 
Alltek Technology Corp. 1,080  1,335 
Amazing Microelectronic Corp. 1,000  3,574 
AmTRAN Technology Co. Ltd. 4,000  1,670 
Apacer Technology, Inc. 1,000  1,325 
Apex International Co. Ltd. 1,000  2,014 
Ardentec Corp. 3,000  4,479 
ASE Technology Holding Co. Ltd., ADR 4,897  28,207 
Asia Optical Co., Inc. 1,000  2,146 
Asia Pacific Telecom Co. Ltd.(1)
10,000  2,297 
Asia Polymer Corp. 3,000  2,689 
Asia Vital Components Co. Ltd. 2,000  7,045 
Asustek Computer, Inc. 1,000  8,321 
AUO Corp. 35,000  19,111 
AURAS Technology Co. Ltd. 1,000  5,044 
Avermedia Technologies 1,000  792 
Bank of Kaohsiung Co. Ltd. 2,060  939 
Basso Industry Corp. 1,000  1,387 
BenQ Materials Corp. 1,000  1,039 
BenQ Medical Technology Corp. 1,000  2,502 
Capital Securities Corp. 12,000  4,685 
Career Technology MFG. Co. Ltd.(1)
2,000  1,725 
Catcher Technology Co. Ltd.(1)
3,000  18,185 
Cathay Financial Holding Co. Ltd. 20,000  29,097 
Central Reinsurance Co. Ltd. 1,000  699 
Chailease Holding Co. Ltd. 1,050  6,742 
Chang Hwa Commercial Bank Ltd. 16,160  9,334 
Chang Wah Electromaterials, Inc. 3,000  3,409 
42

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Charoen Pokphand Enterprise 1,100  $ 2,906 
CHC Healthcare Group 1,000  1,523 
Cheng Loong Corp. 5,000  4,632 
Cheng Mei Materials Technology Corp.(1)
4,000  1,410 
Cheng Shin Rubber Industry Co. Ltd. 7,000  8,109 
Cheng Uei Precision Industry Co. Ltd. 2,000  2,439 
Chicony Electronics Co. Ltd. 1,000  2,670 
Chin-Poon Industrial Co. Ltd. 2,000  2,038 
China Bills Finance Corp. 1,000  533 
China Chemical & Pharmaceutical Co. Ltd. 2,000  1,499 
China Container Terminal Corp. 1,000  829 
China General Plastics Corp. 2,000  1,546 
China Man-Made Fiber Corp. 4,000  1,074 
China Motor Corp. 2,000  3,043 
China Wire & Cable Co. Ltd. 1,000  864 
Chinese Maritime Transport Ltd. 1,000  1,264 
Chipbond Technology Corp. 4,000  7,466 
ChipMOS Technologies, Inc. 4,000  4,661 
Chroma ATE, Inc. 2,000  12,273 
Chung-Hsin Electric & Machinery Manufacturing Corp. 4,000  8,644 
Chunghwa Telecom Co. Ltd., ADR 441  17,516 
Clevo Co. 1,000  1,131 
CMC Magnetics Corp.(1)
3,000  787 
Co-Tech Development Corp. 1,000  1,401 
Collins Co. Ltd. 1,000  596 
Compal Electronics, Inc. 19,000  14,147 
Compeq Manufacturing Co. Ltd. 7,000  12,004 
Concord Securities Co. Ltd. 2,000  713 
Continental Holdings Corp. 3,000  2,939 
Coretronic Corp. 1,000  2,051 
CSBC Corp. Taiwan(1)
1,000  600 
CTBC Financial Holding Co. Ltd. 45,000  34,468 
CTCI Corp. 4,000  5,900 
DA CIN Construction Co. Ltd. 1,000  1,009 
Darfon Electronics Corp. 1,000  1,349 
Darwin Precisions Corp.(1)
1,000  336 
Delta Electronics, Inc. 1,000  8,562 
Depo Auto Parts Ind Co. Ltd. 1,000  2,713 
Dimerco Express Corp. 1,000  2,634 
Dynamic Holding Co. Ltd. 3,000  1,986 
E Ink Holdings, Inc. 1,000  7,776 
E.Sun Financial Holding Co. Ltd. 11,741  10,818 
Elan Microelectronics Corp. 2,000  6,325 
Elite Material Co. Ltd. 1,000  5,264 
Elitegroup Computer Systems Co. Ltd. 1,000  856 
Emerging Display Technologies Corp. 1,000  751 
Eternal Materials Co. Ltd. 1,000  1,109 
Etron Technology, Inc.(1)
1,000  1,706 
Eva Airways Corp. 12,000  13,132 
Evergreen International Storage & Transport Corp. 2,000  1,943 
Evergreen Marine Corp. Taiwan Ltd. 7,000  20,060 
43

Avantis Responsible Emerging Markets Equity ETF
Shares Value
EVERGREEN Steel Corp. 1,000  $ 2,011 
Everlight Electronics Co. Ltd. 3,000  3,854 
Excelliance Mos Corp. 1,000  4,212 
Excelsior Medical Co. Ltd. 1,050  2,334 
Far Eastern International Bank 13,000  5,232 
Far Eastern New Century Corp. 15,000  16,073 
Far EasTone Telecommunications Co. Ltd. 8,000  19,620 
Farglory F T Z Investment Holding Co. Ltd. 1,000  1,710 
Farglory Land Development Co. Ltd. 2,000  4,181 
Feng TAY Enterprise Co. Ltd. 1,000  5,610 
First Financial Holding Co. Ltd. 20,400  17,699 
First Steamship Co. Ltd.(1)
6,000  1,886 
Fitipower Integrated Technology, Inc. 1,000  4,133 
FLEXium Interconnect, Inc.(1)
2,000  6,111 
Flytech Technology Co. Ltd. 1,000  2,787 
FocalTech Systems Co. Ltd. 1,000  2,498 
Formosa Laboratories, Inc. 1,000  1,959 
Formosan Union Chemical 1,000  809 
Foxconn Technology Co. Ltd. 5,000  8,267 
Franbo Lines Corp. 1,000  645 
Fubon Financial Holding Co. Ltd. 17,000  31,876 
Fulltech Fiber Glass Corp. 1,029  484 
Gamania Digital Entertainment Co. Ltd. 1,000  1,985 
Gemtek Technology Corp. 2,000  2,070 
General Interface Solution Holding Ltd. 2,000  5,257 
Getac Holdings Corp. 1,000  1,556 
Gigabyte Technology Co. Ltd. 1,000  2,789 
Global Brands Manufacture Ltd. 2,000  1,898 
Globalwafers Co. Ltd. 1,000  15,821 
Gloria Material Technology Corp. 1,000  929 
Gold Circuit Electronics Ltd. 2,000  5,439 
Goldsun Building Materials Co. Ltd. 4,000  3,317 
Gordon Auto Body Parts 1,000  923 
Gourmet Master Co. Ltd. 1,000  3,316 
Grand Fortune Securities Co. Ltd. 1,000  519 
Grand Pacific Petrochemical 6,000  3,685 
Grape King Bio Ltd. 1,000  4,883 
Great Wall Enterprise Co. Ltd. 1,050  1,694 
Greatek Electronics, Inc. 2,000  3,878 
GTM Holdings Corp. 1,000  825 
Hai Kwang Enterprise Corp. 1,000  726 
Hannstar Board Corp. 2,000  2,138 
HannStar Display Corp. 10,000  3,888 
HannsTouch Solution, Inc. 1,000  357 
Highwealth Construction Corp. 1,000  1,586 
Hiroca Holdings Ltd. 1,000  1,826 
Hiwin Technologies Corp. 1,030  6,952 
Ho Tung Chemical Corp. 4,000  1,225 
Holtek Semiconductor, Inc. 1,000  2,416 
Holy Stone Enterprise Co. Ltd. 1,000  2,919 
Hon Hai Precision Industry Co. Ltd. 33,000  117,506 
44

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Hong TAI Electric Industrial 1,000  $ 554 
Horizon Securities Co. Ltd. 1,060  394 
Hotai Finance Co. Ltd. 1,000  3,429 
HTC Corp.(1)
1,000  2,017 
Hua Nan Financial Holdings Co. Ltd. 17,578  13,342 
Huang Hsiang Construction Corp. 1,000  1,504 
Hung Sheng Construction Ltd. 4,000  3,389 
Ibase Technology, Inc. 1,000  2,557 
IBF Financial Holdings Co. Ltd. 13,650  5,975 
IEI Integration Corp. 1,000  2,453 
Innolux Corp. 52,000  20,482 
Inpaq Technology Co. Ltd. 1,000  1,751 
Integrated Service Technology, Inc.(1)
1,000  2,207 
International CSRC Investment Holdings Co. 6,000  4,088 
Inventec Corp. 3,000  2,271 
ITE Technology, Inc. 1,000  2,286 
Jarllytec Co. Ltd. 1,000  2,203 
Kaimei Electronic Corp. 1,000  1,896 
Kaori Heat Treatment Co. Ltd. 1,000  3,719 
Kenda Rubber Industrial Co. Ltd. 1,000  1,141 
Kenmec Mechanical Engineering Co. Ltd.(1)
2,000  2,179 
Kerry TJ Logistics Co. Ltd. 1,000  1,342 
Kindom Development Co. Ltd. 3,000  2,777 
King Yuan Electronics Co. Ltd. 7,000  8,527 
King's Town Bank Co. Ltd. 5,000  5,768 
Kinik Co. 1,000  5,157 
Kinpo Electronics 2,000  880 
Kinsus Interconnect Technology Corp. 1,000  3,972 
KNH Enterprise Co. Ltd. 1,000  622 
L&K Engineering Co. Ltd. 2,000  2,124 
LandMark Optoelectronics Corp. 1,000  5,776 
Lealea Enterprise Co. Ltd. 3,000  1,127 
Lien Hwa Industrial Holdings Corp. 1,050  1,958 
Lingsen Precision Industries Ltd. 3,000  1,559 
Lite-On Technology Corp. 2,000  4,304 
Longchen Paper & Packaging Co. Ltd. 4,000  2,161 
Lung Yen Life Service Corp. 1,000  1,370 
Macronix International Co. Ltd. 11,000  11,807 
Marketech International Corp. 1,000  4,038 
Materials Analysis Technology, Inc. 1,000  4,039 
MediaTek, Inc. 1,000  21,637 
Mega Financial Holding Co. Ltd. 9,225  10,820 
Mercuries Life Insurance Co. Ltd.(1)
9,000  2,099 
Micro-Star International Co. Ltd. 2,000  7,487 
Mitac Holdings Corp. 5,000  4,597 
Mosel Vitelic, Inc. 1,000  1,339 
MPI Corp. 1,000  3,166 
Nan Ya Printed Circuit Board Corp. 1,000  8,724 
Nantex Industry Co. Ltd. 1,000  1,397 
Nanya Technology Corp. 6,000  10,421 
Nien Made Enterprise Co. Ltd. 1,000  9,235 
45

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Novatek Microelectronics Corp. 2,000  $ 17,111 
Nuvoton Technology Corp. 1,000  4,059 
O-Bank Co. Ltd. 9,000  2,554 
Orient Semiconductor Electronics Ltd. 3,000  1,815 
Oriental Union Chemical Corp. 3,000  1,794 
Pan Jit International, Inc. 2,000  4,532 
Pegatron Corp. 9,000  18,718 
Phoenix Silicon International Corp. 1,060  2,415 
Pixart Imaging, Inc. 1,000  3,083 
Pou Chen Corp. 10,000  9,473 
Powerchip Semiconductor Manufacturing Corp. 11,000  12,335 
Powertech Technology, Inc. 5,000  13,952 
President Chain Store Corp. 2,000  17,575 
President Securities Corp. 3,000  1,644 
Primax Electronics Ltd. 1,000  2,188 
Prince Housing & Development Corp. 1,000  392 
Promate Electronic Co. Ltd. 1,000  1,280 
Qisda Corp. 2,000  1,915 
Quanta Computer, Inc. 4,000  10,370 
Quanta Storage, Inc. 1,000  1,447 
Radiant Opto-Electronics Corp. 3,000  9,858 
Raydium Semiconductor Corp. 1,000  8,998 
Realtek Semiconductor Corp. 2,000  22,473 
Rexon Industrial Corp. Ltd. 1,000  1,121 
Ritek Corp.(1)
1,000  278 
Roo Hsing Co. Ltd.(1)
1,000  96 
Ruentex Development Co. Ltd. 2,000  4,124 
Ruentex Industries Ltd. 1,000  2,130 
Sanyang Motor Co. Ltd. 4,000  4,762 
Sesoda Corp. 2,000  3,146 
Shanghai Commercial & Savings Bank Ltd. 14,000  22,788 
Sheng Yu Steel Co. Ltd. 1,000  839 
Shih Wei Navigation Co. Ltd. 2,000  1,838 
Shin Foong Specialty & Applied Materials Co. Ltd. 1,000  2,285 
Shin Kong Financial Holding Co. Ltd. 58,000  16,662 
Shin Zu Shing Co. Ltd. 1,000  2,880 
Shinkong Insurance Co. Ltd. 2,000  3,785 
Shinkong Synthetic Fibers Corp. 6,000  3,553 
Sigurd Microelectronics Corp. 2,000  3,335 
Silicon Integrated Systems Corp. 4,400  2,885 
Simplo Technology Co. Ltd. 1,000  9,436 
Sincere Navigation Corp. 1,000  698 
Sinkang Industries Co. Ltd. 1,000  644 
Sino-American Silicon Products, Inc. 2,000  10,904 
Sinon Corp. 2,000  2,967 
SinoPac Financial Holdings Co. Ltd. 41,410  23,476 
Sitronix Technology Corp. 1,000  6,183 
Siward Crystal Technology Co. Ltd. 1,000  1,351 
Solar Applied Materials Technology Corp. 1,000  1,266 
Sonix Technology Co. Ltd. 1,000  1,938 
Sporton International, Inc. 1,000  7,528 
46

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Sports Gear Co. Ltd. 1,000  $ 2,795 
St Shine Optical Co. Ltd. 1,000  8,778 
Standard Foods Corp. 1,000  1,346 
Stark Technology, Inc. 1,000  2,766 
Symtek Automation Asia Co. Ltd. 1,000  2,962 
Synnex Technology International Corp. 1,000  1,823 
T3EX Global Holdings Corp. 1,000  2,563 
TAI Roun Products Co. Ltd. 1,000  521 
Tai-Saw Technology Co. Ltd. 1,000  1,169 
Taichung Commercial Bank Co. Ltd. 17,650  7,881 
Taigen Biopharmaceuticals Holdings Ltd.(1)
2,000  1,240 
Tainan Spinning Co. Ltd. 1,000  616 
Taishin Financial Holding Co. Ltd. 41,980  20,836 
Taita Chemical Co. Ltd. 1,050  775 
Taiwan Business Bank 34,221  14,343 
Taiwan Cement Corp. 7,399  9,525 
Taiwan Cogeneration Corp. 1,000  1,219 
Taiwan Cooperative Financial Holding Co. Ltd. 18,540  16,743 
Taiwan Glass Industry Corp. 6,000  3,443 
Taiwan High Speed Rail Corp. 7,000  6,692 
Taiwan Hon Chuan Enterprise Co. Ltd. 2,000  4,904 
Taiwan Mobile Co. Ltd. 1,000  3,269 
Taiwan Navigation Co. Ltd. 2,000  1,770 
Taiwan Paiho Ltd. 2,000  4,152 
Taiwan PCB Techvest Co. Ltd. 2,000  2,511 
Taiwan Secom Co. Ltd. 1,000  3,358 
Taiwan Semiconductor Co. Ltd. 1,000  3,107 
Taiwan Semiconductor Manufacturing Co. Ltd., ADR 4,858  404,914 
Taiwan Styrene Monomer 1,000  480 
Taiwan Surface Mounting Technology Corp. 2,000  6,665 
Taiwan TEA Corp.(1)
1,000  652 
Taiwan-Asia Semiconductor Corp. 1,000  1,276 
Tatung Co. Ltd.(1)
4,000  4,511 
Teco Electric and Machinery Co. Ltd. 9,000  8,706 
Tex-Ray Industrial Co. Ltd. 1,000  390 
Thye Ming Industrial Co. Ltd. 1,000  1,410 
Ton Yi Industrial Corp. 7,000  4,644 
Tong Yang Industry Co. Ltd. 3,000  5,348 
Topco Scientific Co. Ltd. 1,000  5,341 
TPK Holding Co. Ltd. 2,000  2,370 
Transcend Information, Inc. 1,000  2,167 
Tripod Technology Corp. 1,000  3,283 
TSRC Corp. 4,000  3,681 
TTY Biopharm Co. Ltd. 1,000  2,489 
Tung Ho Steel Enterprise Corp. 3,000  5,304 
TXC Corp. 2,000  5,661 
TYC Brother Industrial Co. Ltd. 1,000  1,000 
Tycoons Group Enterprise(1)
1,000  285 
Tyntek Corp. 1,000  610 
TZE Shin International Co. Ltd. 1,100  604 
Uni-President Enterprises Corp. 11,000  23,772 
47

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Unimicron Technology Corp. 5,000  $ 24,499 
Union Bank of Taiwan 13,796  7,438 
Unitech Printed Circuit Board Corp.(1)
1,000  756 
United Microelectronics Corp.(1)
30,000  39,914 
United Renewable Energy Co. Ltd.(1)
3,000  2,259 
Unizyx Holding Corp. 1,000  911 
UPC Technology Corp. 4,000  1,836 
USI Corp. 5,000  3,877 
Utechzone Co. Ltd. 1,000  3,005 
Vanguard International Semiconductor Corp. 2,000  4,835 
Wafer Works Corp. 1,000  1,697 
Walsin Lihwa Corp. 6,419  8,290 
Walsin Technology Corp. 1,000  3,022 
Walton Advanced Engineering, Inc. 1,000  439 
Wan Hai Lines Ltd. 2,150  6,060 
We & Win Development Co. Ltd. 1,000  265 
WEI Chih Steel Industrial Co. Ltd. 1,000  868 
Wei Chuan Foods Corp. 2,000  1,333 
Weikeng Industrial Co. Ltd. 1,000  881 
Win Semiconductors Corp. 1,000  5,808 
Winbond Electronics Corp. 14,000  10,087 
Winstek Semiconductor Co. Ltd. 1,000  1,619 
Wisdom Marine Lines Co. Ltd. 3,000  5,653 
Wistron Corp. 13,000  11,786 
Wowprime Corp.(1)
1,000  4,083 
WPG Holdings Ltd. 2,000  3,363 
WT Microelectronics Co. Ltd. 2,000  4,218 
XinTec, Inc. 1,000  4,281 
Yageo Corp. 1,000  10,695 
Yang Ming Marine Transport Corp. 7,000  17,932 
Yem Chio Co. Ltd. 2,000  926 
Yeong Guan Energy Technology Group Co. Ltd. 1,000  1,825 
YFY, Inc. 7,000  5,663 
Youngtek Electronics Corp. 1,000  2,132 
Yuanta Financial Holding Co. Ltd. 33,990  22,562 
Yulon Finance Corp. 1,253  6,625 
Yulon Motor Co. Ltd. 4,000  5,389 
Zhen Ding Technology Holding Ltd. 2,000  7,422 
2,224,767 
Thailand — 2.5%
AAPICO Hitech PCL, NVDR 1,300  899 
Advanced Info Service PCL, NVDR 2,200  11,574 
Advanced Information Technology PCL, NVDR 5,900  1,002 
AEON Thana Sinsap Thailand PCL, NVDR 800  3,629 
Airports of Thailand PCL, NVDR(1)
3,400  6,775 
AJ Plast PCL, NVDR 400  163 
Amanah Leasing PCL, NVDR 3,900  472 
Amata Corp. PCL, NVDR 5,300  3,035 
AP Thailand PCL, NVDR 22,200  6,079 
Aqua Corp. PCL, NVDR(1)
8,600  142 
Asia Plus Group Holdings PCL, NVDR 4,400  371 
48

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Asian Sea Corp. PCL, NVDR 2,300  $ 1,122 
Asset World Corp. PCL, NVDR 18,600  2,849 
Bangkok Airways PCL, NVDR(1)
800  232 
Bangkok Chain Hospital PCL, NVDR 11,200  5,733 
Bangkok Dusit Medical Services PCL, NVDR 18,400  14,747 
Bangkok Life Assurance PCL, NVDR 3,100  3,015 
BCPG PCL, NVDR 11,600  3,431 
BEC World PCL, NVDR 7,700  2,952 
Berli Jucker PCL, NVDR 1,400  1,287 
Better World Green PCL, NVDR(1)
40,500  908 
BTS Group Holdings PCL, NVDR 8,800  2,026 
Bumrungrad Hospital PCL, NVDR 2,200  13,027 
Carabao Group PCL, NVDR 1,000  2,767 
Central Pattana PCL, NVDR 5,500  10,430 
Central Plaza Hotel PCL, NVDR(1)
1,100  1,287 
Central Retail Corp. PCL, NVDR 4,700  5,210 
CH Karnchang PCL, NVDR 1,400  806 
Charoen Pokphand Foods PCL, NVDR 10,800  7,695 
Chularat Hospital PCL, NVDR 46,900  4,706 
Com7 PCL, NVDR 1,200  1,131 
Country Group Holdings PCL, NVDR(1)
11,700  237 
CP ALL PCL, NVDR 6,200  10,450 
Delta Electronics Thailand PCL, NVDR 300  4,299 
Dhipaya Group Holdings PCL, NVDR 1,700  2,902 
Ditto Thailand PCL, NVDR 900  1,425 
Dohome PCL, NVDR 400  167 
Dynasty Ceramic PCL, NVDR 29,300  2,169 
Eastern Polymer Group PCL, NVDR 3,800  1,000 
Eastern Water Resources Development and Management PCL, NVDR 500  88 
Ekachai Medical Care PCL, NVDR 1,560  321 
Energy Absolute PCL, NVDR 2,500  5,837 
Forth Corp. PCL, NVDR 600  952 
G J Steel PCL, NVDR(1)
85,800  917 
GFPT PCL, NVDR 3,500  1,610 
Gunkul Engineering PCL, NVDR 14,500  1,977 
Hana Microelectronics PCL, NVDR 2,800  3,269 
Home Product Center PCL, NVDR 19,500  7,428 
Humanica PCL, NVDR 600  207 
Indorama Ventures PCL, NVDR 6,300  7,461 
Interlink Communication PCL, NVDR 2,600  598 
Intouch Holdings PCL, NVDR 1,700  3,386 
IT City PCL (NVDR), NVDR 1,300  222 
Italian-Thai Development PCL, NVDR(1)
34,400  1,809 
Jasmine International PCL, NVDR(1)
27,400  1,920 
Jay Mart PCL, NVDR 700  996 
JMT Network Services PCL, NVDR 1,500  3,205 
JWD Infologistics PCL, NVDR 3,000  1,404 
Karmarts PCL, NVDR 6,300  793 
KCE Electronics PCL, NVDR 3,000  4,446 
KGI Securities Thailand PCL, NVDR 7,600  1,037 
49

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Kiatnakin Phatra Bank PCL, NVDR 1,800  $ 3,573 
Krung Thai Bank PCL, NVDR 13,500  6,242 
Krungthai Card PCL, NVDR 3,500  5,771 
Land & Houses PCL, NVDR 43,200  10,539 
Lanna Resources PCL, NVDR 3,600  2,359 
LPN Development PCL, NVDR 1,700  211 
Master Ad PCL, NVDR(1)
10,500  161 
MBK PCL, NVDR(1)
7,100  3,168 
MCS Steel PCL, NVDR 3,700  1,044 
Mega Lifesciences PCL, NVDR 2,500  3,371 
MFEC PCL, NVDR 800  205 
Minor International PCL, NVDR(1)
3,200  2,866 
MK Restaurants Group PCL, NVDR 1,800  2,908 
Mono Next PCL, NVDR(1)
9,000  381 
Muangthai Capital PCL, NVDR 2,000  2,327 
Nusasiri PCL, NVDR(1)
5,800  162 
Origin Property PCL, NVDR 4,900  1,381 
Osotspa PCL, NVDR 7,500  6,421 
Plan B Media PCL, NVDR(1)
14,600  2,638 
Polyplex Thailand PCL, NVDR 700  439 
POSCO-Thainox PCL, NVDR 5,200  169 
Praram 9 Hospital PCL, NVDR 7,000  3,415 
Property Perfect PCL, NVDR 11,340  127 
Pruksa Holding PCL, NVDR 1,300  459 
Quality Houses PCL, NVDR 59,700  3,534 
Rajthanee Hospital PCL, NVDR 2,100  2,073 
Ratchthani Leasing PCL, NVDR 14,500  1,890 
Regional Container Lines PCL, NVDR 4,100  3,647 
RS PCL, NVDR 1,600  675 
S Hotels & Resorts PCL, NVDR(1)
8,800  983 
S Kijchai Enterprise PCL, R Shares, NVDR 4,000  618 
Sabina PCL, NVDR 1,300  944 
Sansiri PCL, NVDR 63,300  1,907 
Sappe PCL, NVDR 1,000  1,219 
SC Asset Corp. PCL, NVDR 2,100  202 
SCB X PCL, NVDR 500  1,511 
Sena Development PCL, NVDR 800  87 
Sermsang Power Corp. Co. Ltd., NVDR 2,770  728 
Siam Global House PCL, NVDR 5,900  3,171 
SISB PCL, NVDR 2,300  895 
SNC Former PCL, NVDR 2,000  931 
Somboon Advance Technology PCL, NVDR 2,400  1,282 
Sri Trang Agro-Industry PCL, NVDR 5,200  3,218 
Srisawad Corp. PCL, NVDR 2,500  3,334 
STARK Corp. PCL, NVDR(1)
800  92 
STP & I PCL, NVDR(1)
2,700  268 
Supalai PCL, NVDR 10,500  5,612 
Super Energy Corp. PCL, NVDR 54,700  1,140 
Tata Steel Thailand PCL, NVDR 2,300  64 
Thai Union Group PCL, NVDR 7,100  3,405 
Thai Vegetable Oil PCL, NVDR 3,740  3,130 
50

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Thai Wah PCL, NVDR 6,300  $ 974 
Thaicom PCL, NVDR 600  171 
Thaire Life Assurance PCL, NVDR 800  104 
Thanachart Capital PCL, NVDR 1,900  2,107 
Thonburi Healthcare Group PCL, NVDR 2,800  5,237 
Thoresen Thai Agencies PCL, NVDR 15,300  3,477 
Tipco Asphalt PCL, NVDR 7,000  3,204 
Tisco Financial Group PCL, NVDR 1,300  3,340 
TKS Technologies PCL, NVDR 1,000  293 
TOA Paint Thailand PCL, NVDR 400  337 
TQM Alpha PCL, NVDR 1,500  1,758 
Triple i Logistics PCL, NVDR 2,200  790 
TTW PCL, NVDR 3,200  922 
U City PCL, NVDR(1)
26,300  972 
VGI PCL, NVDR 4,500  540 
WHA Corp. PCL, NVDR 31,600  3,029 
Workpoint Entertainment PCL, NVDR 200  106 
326,292 
Turkey — 0.6%
AG Anadolu Grubu Holding AS 45  183 
Akbank TAS 10,689  6,865 
Aksigorta AS(1)
1,013  208 
Albaraka Turk Katilim Bankasi AS(1)
4,421  596 
Alkim Alkali Kimya AS 221  348 
Anadolu Anonim Turk Sigorta Sirketi(1)
847  377 
Anadolu Efes Biracilik Ve Malt Sanayii AS 836  1,889 
Aselsan Elektronik Sanayi Ve Ticaret AS 632  904 
Aygaz AS 55  138 
Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi AS 674  636 
Baticim Bati Anadolu Cimento Sanayii AS(1)
212  377 
BIM Birlesik Magazalar AS 893  5,358 
Bogazici Beton Sanayi Ve Ticaret AS 359  119 
Brisa Bridgestone Sabanci Sanayi ve Ticaret AS 171  347 
Bursa Cimento Fabrikasi AS(1)
1,946  363 
Coca-Cola Icecek AS 136  1,193 
Dogus Otomotiv Servis ve Ticaret AS 206  1,130 
EGE Gubre Sanayii AS 17  261 
EGE Seramik Sanayi ve Ticaret AS 167  303 
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS 940  714 
Enerjisa Enerji AS 826  775 
Esenboga Elektrik Uretim AS 168  384 
Europap Tezol Kagit Sanayi VE Ticaret AS 314  188 
Fenerbahce Futbol AS(1)
50  164 
Galata Wind Enerji AS 977  783 
Girisim Elektrik Taahhut Ticaret Ve Sanayi AS(1)
203  748 
Goodyear Lastikleri TAS(1)
530  316 
Gozde Girisim Sermayesi Yatirim Ortakligi AS(1)
678  352 
GSD Holding AS 2,660  638 
Hektas Ticaret TAS(1)
371  836 
Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret AS 171  87 
51

Avantis Responsible Emerging Markets Equity ETF
Shares Value
Ipek Dogal Enerji Kaynaklari Arastirma Ve Uretim AS(1)
606  $ 596 
Is Finansal Kiralama AS(1)
1,844  832 
Is Yatirim Menkul Degerler AS 159  248 
Izmir Demir Celik Sanayi AS(1)
1,060  154 
Jantsa Jant Sanayi Ve Ticaret AS 72  310 
Karsan Otomotiv Sanayii Ve Ticaret AS(1)
741  329 
Kartonsan Karton Sanayi ve Ticaret AS 106  418 
Konya Kagit Sanayi VE Ticaret AS 261  430 
Kordsa Teknik Tekstil AS 125  392 
Logo Yazilim Sanayi Ve Ticaret AS 116  303 
Mavi Giyim Sanayi Ve Ticaret AS, B Shares 454  1,745 
Migros Ticaret AS(1)
468  2,100 
MLP Saglik Hizmetleri AS(1)
334  742 
Naturel Yenilenebilir Enerji Ticaret AS 111  476 
ODAS Elektrik Uretim ve Sanayi Ticaret AS(1)
3,682  912 
Otokar Otomotiv Ve Savunma Sanayi AS 31  813 
Parsan Makina Parcalari Sanayii AS(1)
51  112 
Penta Teknoloji Urunleri Dagitim Ticaret AS 29  598 
Petkim Petrokimya Holding AS(1)
2,393  1,900 
Polisan Holding AS 1,677  618 
Qua Granite Hayal(1)
438  743 
Sekerbank Turk AS(1)
4,749  975 
Sok Marketler Ticaret AS(1)
880  815 
TAV Havalimanlari Holding AS(1)
441  1,505 
Tekfen Holding AS 736  1,204 
Tofas Turk Otomobil Fabrikasi AS 325  1,568 
Trabzonspor Sportif Yatirim ve Futbol Isletmeciligi TAS(1)
500  151 
Turcas Petrol AS(1)
576  408 
Turk Traktor ve Ziraat Makineleri AS 34  456 
Turkcell Iletisim Hizmetleri AS, ADR 744  2,210 
Turkiye Halk Bankasi AS(1)
4,765  2,245 
Turkiye Is Bankasi AS, C Shares 10,505  4,550 
Turkiye Sinai Kalkinma Bankasi AS(1)
9,726  2,626 
Turkiye Vakiflar Bankasi TAO, D Shares(1)
5,283  2,118 
Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri AS 1,513  1,714 
Vestel Beyaz Esya Sanayi ve Ticaret AS 849  439 
Vestel Elektronik Sanayi ve Ticaret AS 626  1,024 
Yapi ve Kredi Bankasi AS 11,445  4,422 
Yatas Yatak ve Yorgan Sanayi ve Ticaret AS 475  421 
Zorlu Enerji Elektrik Uretim AS(1)
2,704  434 
71,636 
TOTAL COMMON STOCKS
(Cost $13,795,192)
 13,000,025 
WARRANTS†
Malaysia†
Eco World Development Group Bhd(1)
360  7 
Thailand†
Maco Pharma(1)
2,625  1 
TOTAL WARRANTS
(Cost $—)
 8 
52

Avantis Responsible Emerging Markets Equity ETF
Shares Value
RIGHTS†
Brazil†
AES Brasil Energia SA(1)
142  $ 2 
Infracommerce CXAAS SA(1)
28  3 
TOTAL RIGHTS
(Cost $—)
 5 
SHORT-TERM INVESTMENTS — 0.1%
Money Market Funds — 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost $8,563)
 8,563  8,563 
TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $13,803,755)
 13,008,601 
OTHER ASSETS AND LIABILITIES†
5,487 
TOTAL NET ASSETS — 100.0%
 $ 13,014,088 

MARKET SECTOR DIVERSIFICATION
(as a % of net assets)
Financials 24.6%
Information Technology 19.7%
Consumer Discretionary 15.5%
Industrials 10.1%
Communication Services 8.3%
Consumer Staples 7.2%
Materials 5.2%
Health Care 4.6%
Real Estate 3.0%
Utilities 1.7%
Energy —*
Short-Term Investments 0.1%
Other Assets and Liabilities —*
*Category is less than 0.05% of total net assets.

NOTES TO SCHEDULE OF INVESTMENTS
ADR - American Depositary Receipt
GDR - Global Depositary Receipt
NVDR - Non-Voting Depositary Receipt
†Category is less than 0.05% of total net assets.
(1)Non-income producing.


See Notes to Financial Statements.
53

AUGUST 31, 2022
Avantis Responsible International Equity ETF
Shares Value
COMMON STOCKS — 99.6%


Australia — 7.5%
29Metals Ltd.(1)
1,583  $ 2,144 
88 Energy Ltd.(1)
14,791  89 
Accent Group Ltd. 1,891  1,923 
Adairs Ltd. 689  1,062 
Aeris Resources Ltd.(1)
2,630  771 
ALS Ltd. 960  7,725 
Altium Ltd. 178  4,390 
AMP Ltd.(1)
16,829  13,264 
Ansell Ltd. 107  1,935 
Appen Ltd. 100  251 
Arafura Resources Ltd.(1)
5,367  1,146 
ARB Corp. Ltd. 158  3,233 
Ardent Leisure Group Ltd. 1,690  707 
ASX Ltd. 907  48,282 
Atlas Arteria Ltd. 2,607  14,183 
Atlassian Corp. PLC, Class A(1)
123  30,462 
AUB Group Ltd. 160  2,393 
Aurizon Holdings Ltd. 14,297  36,159 
Australia & New Zealand Banking Group Ltd. 6,847  105,845 
Australian Clinical Labs Ltd. 713  2,144 
Australian Ethical Investment Ltd. 301  1,319 
Australian Finance Group Ltd. 1,752  2,279 
Baby Bunting Group Ltd. 724  2,150 
Bank of Queensland Ltd. 3,807  18,165 
Bapcor Ltd. 475  2,153 
Bega Cheese Ltd. 2,798  7,596 
Bendigo & Adelaide Bank Ltd. 3,259  20,005 
Berkeley Energia Ltd.(1)
1,767  406 
Boral Ltd. 2,367  4,733 
Brambles Ltd. 6,533  54,983 
Bravura Solutions Ltd. 1,839  1,973 
Brickworks Ltd. 453  6,271 
carsales.com Ltd. 358  5,458 
Cedar Woods Properties Ltd. 367  1,136 
Challenger Ltd. 5,107  22,017 
Cleanaway Waste Management Ltd. 3,254  6,180 
Clinuvel Pharmaceuticals Ltd. 51  696 
Cochlear Ltd. 57  8,298 
Codan Ltd. 330  1,622 
Coles Group Ltd. 4,944  59,176 
Collins Foods Ltd. 103  686 
Commonwealth Bank of Australia 2,584  170,756 
Computershare Ltd. 913  15,227 
Credit Corp. Group Ltd. 432  5,952 
CSL Ltd. 521  104,209 
CSR Ltd. 2,722  8,351 
Dacian Gold Ltd.(1)
1,905  129 
Data#3 Ltd. 910  3,796 
54

Avantis Responsible International Equity ETF
Shares Value
DDH1 Ltd. 1,950  $ 1,128 
Deterra Royalties Ltd. 2,083  5,884 
Domino's Pizza Enterprises Ltd. 123  5,302 
Eagers Automotive Ltd. 677  6,094 
Eclipx Group Ltd.(1)
2,678  4,336 
Emeco Holdings Ltd. 2,908  1,806 
Endeavour Group Ltd. 5,165  25,561 
EVENT Hospitality and Entertainment Ltd.(1)
249  2,501 
Evolution Mining Ltd. 13,520  21,727 
Fenix Resources Ltd. 6,582  1,600 
Firefinch Ltd.(1)
1,565  214 
Fortescue Metals Group Ltd. 6,250  77,672 
G8 Education Ltd. 1,090  753 
Genworth Mortgage Insurance Australia Ltd. 5,303  10,203 
Grange Resources Ltd. 7,522  4,447 
GUD Holdings Ltd. 213  1,197 
GWA Group Ltd. 1,093  1,494 
Hansen Technologies Ltd. 827  2,761 
Harvey Norman Holdings Ltd. 4,567  13,114 
Hastings Technology Metals Ltd.(1)
130  479 
Healius Ltd. 847  2,141 
Humm Group Ltd. 3,182  1,159 
IDP Education Ltd.(2)
243  4,784 
IGO Ltd. 2,217  19,841 
Imdex Ltd. 1,781  2,418 
Infomedia Ltd. 3,147  3,082 
Insignia Financial Ltd. 509  1,197 
Insurance Australia Group Ltd. 2,258  7,135 
Integral Diagnostics Ltd. 311  627 
InvoCare Ltd. 249  1,869 
IPH Ltd. 488  3,163 
IRESS Ltd. 300  2,294 
James Hardie Industries PLC 926  20,988 
JB Hi-Fi Ltd.(2)
684  18,865 
Jervois Global Ltd.(1)
2,263  818 
Judo Capital Holdings Ltd.(1)
1,330  1,085 
Kelsian Group Ltd.(2)
568  2,091 
Lendlease Corp. Ltd. 2,610  18,188 
Lifestyle Communities Ltd. 642  7,525 
Link Administration Holdings Ltd. 509  1,492 
Lovisa Holdings Ltd. 318  4,961 
Macquarie Group Ltd. 317  37,930 
Magellan Financial Group Ltd.(2)
695  6,101 
McMillan Shakespeare Ltd. 328  3,196 
Medibank Pvt Ltd. 12,687  31,958 
Melbana Energy Ltd(1)
12,084  617 
Mesoblast Ltd.(1)
3,114  1,811 
Mineral Resources Ltd. 698  29,740 
Monash IVF Group Ltd. 889  633 
Money3 Corp. Ltd. 612  955 
Myer Holdings Ltd. 7,479  2,565 
55

Avantis Responsible International Equity ETF
Shares Value
National Australia Bank Ltd. 6,334  $ 131,343 
Nearmap Ltd.(1)
2,953  4,154 
Neometals Ltd.(1)
641  594 
Netwealth Group Ltd. 429  3,808 
Newcrest Mining Ltd. (Sydney) 1,607  19,319 
nib holdings Ltd. 3,042  16,934 
Nick Scali Ltd. 233  1,740 
Nine Entertainment Co. Holdings Ltd. 5,567  8,263 
Nuix Ltd.(1)
1,217  560 
OFX Group Ltd.(1)
1,974  3,551 
Omni Bridgeway Ltd.(1)
2,245  6,948 
oOh!media Ltd. 2,431  2,274 
Orica Ltd. 2,605  27,249 
Orora Ltd. 3,257  7,336 
OZ Minerals Ltd. 1,957  33,727 
Pact Group Holdings Ltd. 229  237 
Panoramic Resources Ltd.(1)
2,171  322 
Pantoro Ltd.(1)
579  75 
Pendal Group Ltd. 2,452  8,609 
Pepper Money Ltd. 879  935 
Perpetual Ltd.(2)
208  3,869 
PEXA Group Ltd.(1)
121  1,186 
Platinum Asset Management Ltd. 1,603  1,934 
Praemium Ltd.(2)
2,581  1,150 
Premier Investments Ltd. 451  6,485 
Pro Medicus Ltd. 62  2,279 
PT Goulamina Holdings Pty Ltd.(1)
1,597  628 
PWR Holdings Ltd. 241  1,554 
QBE Insurance Group Ltd. 3,519  28,851 
Qube Holdings Ltd. 4,840  9,475 
Ramsay Health Care Ltd. 168  8,188 
REA Group Ltd. 69  5,950 
Reece Ltd. 142  1,537 
Reliance Worldwide Corp. Ltd. 787  2,068 
Renascor Resources Ltd.(1)
363  46 
Ridley Corp. Ltd. 3,122  4,418 
Sandfire Resources Ltd. 3,051  9,423 
SEEK Ltd. 150  2,116 
Select Harvests Ltd. 266  898 
Seven Group Holdings Ltd. 228  2,868 
Seven West Media Ltd.(1)
10,683  3,759 
Sigma Healthcare Ltd. 4,885  2,282 
Silver Mines Ltd.(1)
2,607  309 
Sims Ltd. 1,031  10,637 
SmartGroup Corp. Ltd. 323  1,304 
Sonic Healthcare Ltd. 513  11,863 
Southern Cross Media Group Ltd. 1,529  1,117 
Steadfast Group Ltd. 2,148  7,352 
Strandline Resources Ltd.(1)
1,942  627 
Suncorp Group Ltd. 3,697  27,303 
Super Retail Group Ltd. 1,383  9,879 
56

Avantis Responsible International Equity ETF
Shares Value
Superloop Ltd.(1)
557  $ 280 
Syrah Resources Ltd.(1)
2,089  2,610 
Technology One Ltd. 883  7,071 
Telstra Corp. Ltd. 11,373  30,755 
Temple & Webster Group Ltd.(1)
107  363 
Transurban Group 2,672  25,351 
Treasury Wine Estates Ltd. 1,623  14,559 
United Malt Group Ltd. 2,099  5,083 
Vulcan Steel Ltd. 377  2,025 
Wesfarmers Ltd. 2,125  67,977 
Westpac Banking Corp. 6,507  95,507 
WiseTech Global Ltd. 139  5,490 
Woolworths Group Ltd. 2,663  65,650 
Xero Ltd.(1)
73  4,295 
2,019,681 
Austria — 0.3%
ANDRITZ AG 102  4,698 
AT&S Austria Technologie & Systemtechnik AG 177  7,878 
BAWAG Group AG(1)
92  4,151 
CA Immobilien Anlagen AG 41  1,306 
DO & CO. AG(1)
13  1,028 
Erste Group Bank AG 359  8,073 
IMMOFINANZ AG(1)(2)
122  1,814 
Lenzing AG 49  3,624 
Oesterreichische Post AG 63  1,759 
Porr AG 78  893 
Raiffeisen Bank International AG 330  4,167 
S IMMO AG 22  503 
Semperit AG Holding 91  1,654 
Telekom Austria AG(1)
287  1,792 
UNIQA Insurance Group AG 519  3,431 
Verbund AG 112  10,702 
Vienna Insurance Group AG Wiener Versicherung Gruppe 191  4,528 
Wienerberger AG 366  8,558 
70,559 
Belgium — 0.9%
Ackermans & van Haaren NV 79  11,549 
Ageas SA/NV 539  21,870 
AGFA-Gevaert NV(1)
817  2,954 
Anheuser-Busch InBev SA, ADR 583  28,194 
Barco NV 337  7,510 
Bekaert SA 171  5,245 
bpost SA 1,047  6,360 
Cie d'Entreprises CFE(1)(2)
84  836 
D'ieteren Group 48  7,236 
Deceuninck NV 167  386 
Deme Group NV(1)
70  8,011 
Econocom Group SA 78  243 
Elia Group SA 67  9,733 
Etablissements Franz Colruyt NV 193  5,364 
Exmar NV 429  3,738 
57

Avantis Responsible International Equity ETF
Shares Value
Fagron 521  $ 6,689 
Galapagos NV, ADR(1)
187  9,361 
Gimv NV 162  8,288 
KBC Group NV 492  23,465 
Kinepolis Group NV(1)
87  3,814 
Ontex Group NV(1)
584  3,353 
Proximus SADP 814  10,362 
Recticel SA 93  1,296 
Shurgard Self Storage SA 78  3,765 
Telenet Group Holding NV 47  668 
UCB SA 288  20,237 
Umicore SA 1,045  33,217 
VGP NV 21  3,053 
246,797 
Canada — 11.0%
Absolute Software Corp.(2)
238  2,571 
AG Growth International, Inc. 142  4,246 
AGF Management Ltd., Class B 238  1,118 
Agnico Eagle Mines Ltd. 907  37,403 
Aimia, Inc.(1)(2)
429  1,336 
Alamos Gold, Inc., Class A 2,667  19,231 
Alexco Resource Corp.(1)
144  65 
Algoma Steel Group, Inc.(2)
600  5,482 
Amerigo Resources Ltd. 1,578  1,274 
Aritzia, Inc.(1)
478  15,548 
Ascot Resources Ltd.(1)
1,191  326 
Atrium Mortgage Investment Corp.(2)
238  2,158 
B2Gold Corp. 6,478  19,878 
Ballard Power Systems, Inc.(1)
287  2,240 
Bank of Montreal 1,538  141,990 
Bank of Nova Scotia 2,462  136,133 
BCE, Inc. 238  11,485 
BELLUS Health, Inc.(1)
478  5,452 
Bird Construction, Inc.(2)
238  1,201 
Bonterra Energy Corp.(1)
380  2,546 
Boralex, Inc., A Shares 480  18,091 
Boston Pizza Royalties Income Fund 142  1,716 
Brookfield Business Corp., Class A(2)
69  1,678 
Brookfield Renewable Corp., Class A 478  18,369 
BRP, Inc. 142  9,849 
CAE, Inc.(1)
238  4,346 
Calian Group Ltd. 142  6,504 
Canaccord Genuity Group, Inc. 678  4,052 
Canada Goose Holdings, Inc.(1)
142  2,558 
Canadian Imperial Bank of Commerce 2,400  113,499 
Canadian National Railway Co. 820  97,518 
Canadian Tire Corp. Ltd., Class A 238  27,992 
Canadian Western Bank 478  8,913 
Capstone Mining Corp.(1)
2,858  6,420 
Cascades, Inc. 478  3,257 
CCL Industries, Inc., Class B 238  11,674 
58

Avantis Responsible International Equity ETF
Shares Value
Celestica, Inc.(1)
713  $ 7,356 
Centerra Gold, Inc. 1,700  7,702 
CES Energy Solutions Corp. 1,238  2,338 
CGI, Inc.(1)
380  30,091 
CI Financial Corp. 478  5,241 
Cineplex, Inc.(1)
238  1,633 
Cogeco Communications, Inc. 142  8,694 
Colliers International Group, Inc. (Toronto) 142  16,541 
Computer Modelling Group Ltd. 478  1,674 
Copper Mountain Mining Corp.(1)(2)
1,238  1,376 
Corby Spirit & Wine Ltd. 238  3,218 
Corus Entertainment, Inc., B Shares 1,638  4,615 
Definity Financial Corp. 600  16,995 
Descartes Systems Group, Inc.(1)
142  10,003 
Dollarama, Inc. 478  29,109 
Dorel Industries, Inc., Class B 478  2,471 
DREAM Unlimited Corp., Class A 142  3,048 
Eldorado Gold Corp. (Toronto)(1)
1,238  6,825 
Element Fleet Management Corp. 3,107  39,129 
Empire Co. Ltd., Class A 962  27,402 
Enghouse Systems Ltd. 142  3,466 
EQB, Inc. 142  5,694 
Fairfax Financial Holdings Ltd. 100  49,853 
Fiera Capital Corp. 238  1,654 
Finning International, Inc. 478  10,300 
First National Financial Corp.(2)
238  6,739 
Fission Uranium Corp.(1)
2,380  1,504 
Fortuna Silver Mines, Inc.(1)
2,620  6,064 
Franco-Nevada Corp. 142  17,072 
Freehold Royalties Ltd.(2)
858  9,368 
Gear Energy Ltd. 3,191  3,013 
George Weston Ltd. 238  27,210 
GFL Environmental, Inc. 238  6,705 
Gildan Activewear, Inc. 713  21,086 
goeasy Ltd. 100  9,126 
GoGold Resources, Inc.(1)
138  188 
GoldMining, Inc.(1)(2)
1,522  1,344 
Great-West Lifeco, Inc. 1,107  26,003 
Home Capital Group, Inc. 478  10,169 
Hudbay Minerals, Inc. 1,429  6,311 
Hydro One Ltd. 1,487  40,262 
i-80 Gold Corp.(1)
907  1,623 
iA Financial Corp., Inc. 907  48,722 
IAMGOLD Corp.(1)(2)
3,238  3,871 
IBI Group, Inc.(1)
238  3,506 
IGM Financial, Inc. 142  3,865 
InPlay Oil Corp.(1)
400  1,139 
Intact Financial Corp. 238  34,476 
Interfor Corp.(1)
620  15,253 
Karora Resources, Inc.(1)
1,238  2,696 
Labrador Iron Ore Royalty Corp. 480  10,668 
59

Avantis Responsible International Equity ETF
Shares Value
Laurentian Bank of Canada 238  $ 6,520 
LifeWorks, Inc. 238  5,786 
Linamar Corp. 342  16,168 
Loblaw Cos. Ltd. 580  51,259 
Lundin Mining Corp. 5,722  29,757 
Magna International, Inc. 778  44,944 
Major Drilling Group International, Inc.(1)
762  5,164 
Manulife Financial Corp. 7,491  129,589 
Maple Leaf Foods, Inc. 238  4,199 
Martinrea International, Inc. 787  6,202 
MCAN Mortgage Corp. 142  1,730 
MDA Ltd.(1)
142  805 
Medical Facilities Corp. 238  1,823 
Metro, Inc.(2)
578  30,402 
Mullen Group Ltd. 700  7,494 
National Bank of Canada 1,558  103,076 
Neo Performance Materials, Inc. 142  1,564 
North American Construction Group Ltd.(2)
478  5,496 
North West Co., Inc. 238  6,170 
Northern Dynasty Minerals Ltd.(1)(2)
2,380  670 
Novagold Resources, Inc.(1)
1,102  4,882 
Nutrien Ltd. 1,149  105,482 
OceanaGold Corp.(1)
6,907  10,203 
Onex Corp. 380  18,792 
Open Text Corp. 480  15,120 
Osisko Gold Royalties Ltd. (Toronto) 620  6,000 
Pan American Silver Corp. 1,238  18,419 
Pason Systems, Inc. 600  6,350 
Pine Cliff Energy Ltd.(2)
1,809  2,603 
Pizza Pizza Royalty Corp.(2)
238  2,385 
Polaris Renewable Energy, Inc. 142  2,085 
Power Corp. of Canada 478  12,291 
PrairieSky Royalty Ltd. 500  6,815 
Quebecor, Inc., Class B 667  14,408 
Real Matters, Inc.(1)
478  2,107 
Recipe UnLtd. Corp.(1)
61  914 
Resolute Forest Products, Inc.(1)
400  8,095 
Restaurant Brands International, Inc. 762  44,983 
Ritchie Bros Auctioneers, Inc. 338  23,414 
Rogers Communications, Inc., Class B 478  20,582 
Royal Bank of Canada 2,062  191,748 
Russel Metals, Inc. 578  12,499 
Sandstorm Gold Ltd. 1,029  5,853 
Saputo, Inc. 238  6,044 
Shawcor Ltd.(1)
478  2,861 
Sherritt International Corp.(1)(2)
3,093  918 
Shopify, Inc., Class A(1)
200  6,332 
Sleep Country Canada Holdings, Inc. 242  4,883 
Softchoice Corp. 238  3,329 
Spin Master Corp., VTG Shares(1)
238  8,354 
Sprott, Inc. 142  5,370 
60

Avantis Responsible International Equity ETF
Shares Value
SSR Mining, Inc.(2)
1,191  $ 16,078 
Stantec, Inc. 238  11,295 
Stella-Jones, Inc. 438  13,337 
StorageVault Canada, Inc. 200  929 
Sun Life Financial, Inc. 1,142  50,311 
Surge Energy, Inc. 478  3,669 
Teck Resources Ltd., Class B 3,087  104,549 
TELUS Corp. 813  18,311 
TFI International, Inc. 238  23,745 
Thomson Reuters Corp. 100  11,012 
Tidewater Midstream and Infrastructure Ltd. 2,191  2,019 
Toromont Industries Ltd. 380  29,414 
Toronto-Dominion Bank 1,571  101,065 
Total Energy Services, Inc. 429  2,375 
Transcontinental, Inc., Class A 338  4,262 
TransGlobe Energy Corp. 762  2,530 
Tricon Residential, Inc. (Toronto) 1,287  13,435 
Trisura Group Ltd.(1)
238  6,303 
Uni-Select, Inc.(1)
238  6,732 
Wajax Corp. 478  7,723 
West Fraser Timber Co. Ltd. 620  55,469 
Western Forest Products, Inc. 4,000  4,690 
Westport Fuel Systems, Inc.(1)
629  685 
Westshore Terminals Investment Corp. 142  3,306 
Wheaton Precious Metals Corp. 478  14,591 
Winpak Ltd. 142  4,696 
WSP Global, Inc. 238  28,362 
Yamana Gold, Inc. 5,907  26,086 
Yangarra Resources Ltd.(1)
1,049  2,252 
2,964,700 
Denmark — 2.2%
ALK-Abello A/S(1)
335  6,228 
Alm Brand A/S 2,988  4,378 
Bang & Olufsen A/S(1)
180  312 
Bavarian Nordic A/S(1)
154  5,802 
Carlsberg A/S, B Shares 58  7,531 
Chemometec A/S 29  3,102 
Chr Hansen Holding A/S 98  5,710 
Coloplast A/S, B Shares 142  16,221 
Danske Bank A/S 1,931  25,785 
DSV A/S 72  10,639 
FLSmidth & Co. A/S 100  2,768 
Genmab A/S, ADR(1)
991  35,171 
GN Store Nord A/S 87  2,461 
H Lundbeck A/S 629  2,470 
H Lundbeck A/S, A Shares(1)
158  605 
H+H International A/S, B Shares(1)
79  1,270 
ISS A/S(1)
57  998 
Jyske Bank A/S(1)
222  11,112 
Nilfisk Holding A/S(1)
42  939 
NKT A/S(1)
146  7,453 
61

Avantis Responsible International Equity ETF
Shares Value
Novo Nordisk A/S, ADR 2,457  $ 260,688 
Novozymes A/S, B Shares 412  23,646 
NTG Nordic Transport Group A/S(1)
9  349 
Orsted A/S 282  27,524 
Pandora A/S 192  11,535 
Per Aarsleff Holding A/S 104  2,991 
Ringkjoebing Landbobank A/S 34  3,630 
ROCKWOOL A/S, B Shares 33  6,793 
Royal Unibrew A/S 49  3,671 
SimCorp A/S 103  7,522 
Solar A/S, B Shares 50  4,042 
Spar Nord Bank A/S 457  5,174 
Sparekassen Sjaelland-Fyn A/S 97  2,114 
Sydbank A/S 287  8,293 
Topdanmark A/S 179  9,387 
Tryg A/S 691  15,614 
Vestas Wind Systems A/S 2,186  54,696 
598,624 
Finland — 1.0%
Aktia Bank Oyj 171  1,765 
Anora Group Oyj 65  530 
Cargotec Oyj, B Shares 13  442 
Caverion OYJ 171  837 
Citycon Oyj(1)
350  2,480 
Elisa Oyj 189  10,107 
F-Secure Oyj(1)
53  133 
Huhtamaki Oyj 28  980 
Kemira Oyj 482  5,802 
Kesko Oyj, B Shares 762  16,031 
Kojamo Oyj 379  6,345 
Kone Oyj, B Shares 564  22,556 
Konecranes Oyj 98  2,304 
Lassila & Tikanoja Oyj 93  999 
Marimekko Oyj 238  2,347 
Metso Outotec Oyj 1,353  10,582 
Nokia Oyj, ADR 6,195  31,285 
Nokian Renkaat Oyj 361  3,747 
Orion Oyj, Class B 308  13,965 
Outokumpu Oyj 2,079  8,337 
Puuilo Oyj 362  1,727 
QT Group Oyj(1)
29  1,470 
Raisio Oyj, V Shares 191  416 
Rovio Entertainment Oyj 58  349 
Sampo Oyj, A Shares 809  36,599 
Sanoma Oyj 139  1,896 
Stora Enso Oyj, R Shares 1,903  28,328 
Taaleri Oyj 89  869 
Talenom Oyj 78  851 
TietoEVRY Oyj 63  1,612 
Tokmanni Group Corp. 271  3,235 
UPM-Kymmene Oyj 737  25,039 
62

Avantis Responsible International Equity ETF
Shares Value
Uponor Oyj 222  $ 3,326 
Valmet Oyj 213  5,399 
Wartsila Oyj Abp 754  6,217 
YIT Oyj(2)
608  1,990 
260,897 
France — 9.1%
Accor SA(1)
309  7,370 
Aeroports de Paris(1)
73  9,996 
Airbus SE 640  62,716 
ALD SA(2)
813  8,849 
Alstom SA 549  11,251 
Alten SA 119  14,631 
Amundi SA 120  6,084 
APERAM SA(2)
151  4,076 
Arkema SA 368  31,067 
Atos SE(1)
118  1,191 
Aubay 17  832 
AXA SA 4,747  111,800 
Believe SA(1)
30  247 
Beneteau SA 167  1,780 
Bigben Interactive 33  404 
BioMerieux 197  18,016 
Biosynex 53  779 
BNP Paribas SA 1,603  74,492 
Bureau Veritas SA 913  22,661 
Capgemini SE 190  32,828 
Carbios SACA(1)
25  718 
Carrefour SA 3,574  59,652 
Casino Guichard Perrachon SA(1)
122  1,581 
Catana Group 227  1,403 
Chargeurs SA 42  629 
Cie de Saint-Gobain 1,762  70,969 
Cie des Alpes(1)
232  3,670 
Cie Generale des Etablissements Michelin SCA 3,475  84,516 
Cie Plastic Omnium SA 492  9,123 
Coface SA(1)
744  7,440 
Credit Agricole SA 1,774  16,327 
Danone SA 387  20,364 
Dassault Systemes SE 399  15,387 
DBV Technologies SA(1)
183  756 
Derichebourg SA 729  4,101 
Edenred 303  15,326 
Electricite de France SA 2,823  33,752 
Elis SA 136  1,739 
Equasens 9  697 
Esker SA 9  1,167 
EssilorLuxottica SA 160  23,830 
Esso SA Francaise(1)
11  677 
Etablissements Maurel et Prom SA 717  3,629 
Eurazeo SE 383  22,873 
Euroapi SA(1)
236  3,679 
63

Avantis Responsible International Equity ETF
Shares Value
Eurobio Scientific SA(1)
72  $ 1,328 
Eurofins Scientific SE 399  27,606 
Euronext NV 109  8,055 
Eutelsat Communications SA 1,608  14,544 
Faurecia SE(1)
659  9,451 
Fnac Darty SA 9  303 
Francaise Energie(1)
8  476 
Genfit(1)
530  2,244 
Getlink SE 780  14,688 
Groupe Gorge SA(1)
20  403 
Groupe LDLC 19  518 
Guerbet 21  407 
Hermes International 54  69,161 
ID Logistics Group(1)
18  5,036 
Ipsen SA 268  25,684 
IPSOS 38  1,726 
Jacquet Metals SACA 58  918 
JCDecaux SA(1)
408  5,658 
Kaufman & Broad SA 77  1,824 
Kering SA 151  75,765 
L'Oreal SA 180  61,820 
Legrand SA 251  18,161 
LVMH Moet Hennessy Louis Vuitton SE 343  221,326 
Maisons du Monde SA 249  2,383 
Manitou BF SA 38  626 
McPhy Energy SA(1)
86  1,091 
Mersen SA 112  3,312 
Metropole Television SA 217  2,679 
Nacon SA(1)
9  43 
Neoen SA 207  8,550 
Nexans SA 177  16,172 
Nexity SA 100  2,239 
Novacyt SA(1)
189  225 
Orange SA, ADR(2)
9,067  91,486 
Orpea SA(1)
127  2,763 
Pernod Ricard SA 280  51,377 
Publicis Groupe SA 148  7,226 
Quadient SA 234  3,964 
Remy Cointreau SA 81  15,022 
Renault SA(1)
532  15,153 
ReWorld Media SA(1)
207  1,312 
Rexel SA(1)
918  14,910 
Safran SA 1,051  107,154 
Sanofi, ADR 2,146  88,050 
Sartorius Stedim Biotech 31  11,339 
Schneider Electric SE 223  26,505 
SCOR SE 757  12,527 
SEB SA 91  6,740 
SES SA 4,009  28,145 
SES-imagotag SA(1)
43  4,298 
SMCP SA(1)
348  1,906 
64

Avantis Responsible International Equity ETF
Shares Value
Societe BIC SA 123  $ 6,997 
Societe Generale SA 1,749  38,557 
Sodexo SA 140  10,707 
SOITEC(1)
131  18,502 
Solutions 30 SE(1)
732  2,137 
Somfy SA 29  3,208 
Sopra Steria Group SACA 40  5,521 
SPIE SA 468  10,189 
STMicroelectronics NV, NY Shares 2,870  100,163 
Sword Group 29  1,163 
Technicolor SA(1)
940  2,922 
Teleperformance 157  44,715 
Television Francaise 1 449  2,847 
Thales SA 550  66,308 
Trigano SA 9  779 
Ubisoft Entertainment SA(1)
749  34,540 
Valeo 1,187  22,674 
Vinci SA 1,183  109,136 
Virbac SA 26  9,639 
Vivendi SE 2,000  18,129 
Voltalia SA(1)
140  2,998 
Wavestone 33  1,537 
Worldline SA(1)
100  4,284 
2,437,026 
Germany — 6.4%
1&1 AG 49  788 
7C Solarparken AG 288  1,550 
Adesso SE 18  2,181 
adidas AG 295  43,744 
ADLER Group SA(1)
301  844 
Allianz SE 518  87,561 
Amadeus Fire AG 29  2,893 
Aroundtown SA 2,764  8,061 
Atoss Software AG 22  2,918 
Aumann AG 33  507 
Aurubis AG 208  12,594 
BASF SE 1,574  66,578 
Bayer AG 705  37,286 
Bayerische Motoren Werke AG 639  47,081 
Bayerische Motoren Werke AG, Preference Shares 108  7,509 
BayWa AG 33  1,428 
Bechtle AG 191  7,317 
Beiersdorf AG 232  23,418 
Bertrandt AG 13  444 
Bilfinger SE 67  1,989 
Borussia Dortmund GmbH & Co. KGaA(1)
120  470 
Brenntag SE 103  6,753 
Carl Zeiss Meditec AG 76  9,459 
CECONOMY AG 995  1,440 
Cewe Stiftung & Co. KGAA 30  2,372 
Cliq Digital AG 44  1,152 
65

Avantis Responsible International Equity ETF
Shares Value
Commerzbank AG(1)
4,051  $ 26,955 
CompuGroup Medical SE & Co. KgaA 83  3,122 
Continental AG 193  11,112 
Covestro AG 919  27,710 
CTS Eventim AG & Co. KGaA(1)
261  14,032 
Daimler Truck Holding AG(1)
1,794  45,870 
Datagroup SE 23  1,510 
Delivery Hero SE(1)
38  1,577 
Dermapharm Holding SE 56  2,597 
Deutsche Bank AG 4,503  37,420 
Deutsche Beteiligungs AG 58  1,622 
Deutsche Boerse AG 272  45,988 
Deutsche Lufthansa AG(1)
3,484  20,713 
Deutsche Pfandbriefbank AG 710  6,127 
Deutsche Post AG 2,037  74,349 
Deutsche Rohstoff AG 40  1,090 
Deutsche Telekom AG 4,138  77,990 
Deutz AG 432  1,627 
DIC Asset AG 102  1,044 
Draegerwerk AG & Co. KGaA 15  606 
Draegerwerk AG & Co. KGaA, Preference Shares 16  757 
Duerr AG 170  3,745 
ElringKlinger AG 168  1,179 
Encavis AG 539  11,519 
Energiekontor AG 47  4,129 
Evonik Industries AG 599  11,168 
Evotec SE(1)
351  7,716 
Fielmann AG 130  4,831 
flatexDEGIRO AG(1)
230  2,213 
Fraport AG Frankfurt Airport Services Worldwide(1)
93  4,021 
Freenet AG 300  6,539 
Fresenius Medical Care AG & Co. KGaA, ADR 221  3,779 
Fresenius SE & Co. KGaA 110  2,721 
GEA Group AG 567  19,724 
Gerresheimer AG 163  8,526 
GFT Technologies SE 61  2,028 
Grand City Properties SA 378  4,485 
GRENKE AG 136  3,270 
Hamburger Hafen und Logistik AG 191  2,336 
Hannover Rueck SE 87  12,823 
HelloFresh SE(1)
427  10,195 
Henkel AG & Co. KGaA 123  7,692 
Henkel AG & Co. KGaA, Preference Shares 213  13,746 
Hensoldt AG 160  3,558 
HOCHTIEF AG 98  4,839 
Hornbach Holding AG & Co. KGaA 62  4,373 
HUGO BOSS AG 392  21,365 
Hypoport SE(1)
7  1,367 
Infineon Technologies AG 2,109  51,605 
Instone Real Estate Group SE 352  3,116 
Jenoptik AG 163  3,449 
66

Avantis Responsible International Equity ETF
Shares Value
JOST Werke AG 70  $ 2,594 
Jungheinrich AG, Preference Shares 128  3,125 
KION Group AG 182  7,272 
Kloeckner & Co. SE 278  2,509 
Knorr-Bremse AG 182  8,821 
Koenig & Bauer AG(1)
51  595 
Kontron AG 290  4,412 
Krones AG 78  6,424 
Lang & Schwarz AG 33  470 
Lanxess AG 376  12,687 
LEG Immobilien SE 167  12,621 
Leoni AG(1)
233  1,633 
Manz AG(1)
3  82 
Mercedes-Benz Group AG 1,171  65,653 
Merck KGaA 63  10,822 
METRO AG(1)
621  4,944 
MTU Aero Engines AG 247  43,561 
Muenchener Rueckversicherungs-Gesellschaft AG 143  34,166 
Mutares SE & Co. KGaA 109  1,759 
Nagarro SE(1)
23  2,311 
Nemetschek SE 140  8,247 
New Work SE 17  2,026 
Nordex SE(1)
151  1,452 
Norma Group SE 146  2,296 
Patrizia SE 42  531 
Pfeiffer Vacuum Technology AG 14  1,848 
Porsche Automobil Holding SE, Preference Shares 288  20,307 
ProSiebenSat.1 Media SE 292  2,257 
Puma SE 150  9,169 
PVA TePla AG(1)
158  2,654 
QIAGEN NV(1)
442  20,080 
Rational AG 9  4,854 
Rheinmetall AG 221  35,083 
SAF-Holland SE 145  1,154 
SAP SE, ADR 321  27,356 
Sartorius AG, Preference Shares 37  15,415 
Schaeffler AG, Preference Shares 856  4,460 
Scout24 SE 143  8,239 
Secunet Security Networks AG 9  1,958 
SGL Carbon SE(1)
211  1,434 
Siemens AG 557  56,421 
Siemens Energy AG(1)
705  10,370 
Siemens Healthineers AG 385  18,813 
Siltronic AG 37  2,536 
Sixt SE 88  8,605 
Sixt SE, Preference Shares 110  6,575 
Stabilus SA 139  7,110 
STRATEC SE 51  4,347 
Stroeer SE & Co. KGaA 98  4,165 
SUESS MicroTec SE 97  1,201 
Symrise AG 120  12,556 
67

Avantis Responsible International Equity ETF
Shares Value
Synlab AG 252  $ 3,694 
TAG Immobilien AG 389  3,589 
TeamViewer AG(1)
653  6,535 
Telefonica Deutschland Holding AG 5,671  14,722 
United Internet AG 430  9,727 
Varta AG 47  3,297 
Vitesco Technologies Group AG, Class A(1)
132  6,446 
Volkswagen AG 44  8,139 
Volkswagen AG, Preference Shares 273  38,831 
Vonovia SE 1,628  44,072 
Wacker Chemie AG 70  9,955 
Wacker Neuson SE 134  2,218 
Zalando SE(1)
259  5,997 
1,711,414 
Hong Kong — 2.6%
AIA Group Ltd. 17,200  165,485 
ASMPT Ltd. 2,200  17,040 
Bank of East Asia Ltd. 10,000  12,599 
BOC Hong Kong Holdings Ltd. 9,500  32,697 
Budweiser Brewing Co. APAC Ltd. 1,300  3,821 
Cafe de Coral Holdings Ltd. 2,000  2,863 
Chow Tai Fook Jewellery Group Ltd. 1,600  3,220 
CITIC Telecom International Holdings Ltd. 2,000  691 
CK Asset Holdings Ltd. 6,500  43,873 
CK Hutchison Holdings Ltd. 3,500  22,602 
Cowell e Holdings, Inc.(1)
2,000  4,054 
E-Commodities Holdings Ltd. 16,000  3,573 
EC Healthcare 1,000  703 
Esprit Holdings Ltd.(1)
2,500  311 
ESR Group Ltd.(1)
1,800  5,040 
First Pacific Co. Ltd. 2,000  771 
Fosun Tourism Group(1)(2)
600  838 
Futu Holdings Ltd., ADR(1)
28  1,375 
Giordano International Ltd. 10,000  2,327 
Green Future Food Hydrocolloid Marine Science Co. Ltd.(1)
2,000  892 
Hang Lung Group Ltd. 8,000  13,531 
Hang Lung Properties Ltd. 10,000  16,630 
Hang Seng Bank Ltd. 1,200  18,788 
Henderson Land Development Co. Ltd. 7,000  23,416 
HKBN Ltd. 1,000  955 
HKT Trust & HKT Ltd. 7,000  9,391 
Hong Kong Exchanges & Clearing Ltd. 1,500  60,442 
Hongkong Land Holdings Ltd. 2,900  14,019 
Hysan Development Co. Ltd. 1,000  2,818 
IGG, Inc. 3,000  1,290 
Johnson Electric Holdings Ltd. 500  591 
K Wah International Holdings Ltd. 7,000  2,640 
Kerry Properties Ltd. 5,000  11,528 
Luk Fook Holdings International Ltd. 2,000  5,113 
Man Wah Holdings Ltd. 6,000  4,742 
Modern Dental Group Ltd. 1,000  285 
68

Avantis Responsible International Equity ETF
Shares Value
MTR Corp. Ltd. 1,000  $ 5,121 
New World Development Co. Ltd. 10,000  32,586 
NWS Holdings Ltd. 14,000  13,468 
Oriental Watch Holdings 2,000  1,142 
Pacific Textiles Holdings Ltd. 9,000  3,380 
PC Partner Group Ltd. 2,000  1,901 
PCCW Ltd. 8,000  4,005 
Perfect Medical Health Management Ltd. 1,000  511 
Shangri-La Asia Ltd.(1)
2,000  1,595 
Singamas Container Holdings Ltd. 16,000  1,482 
Sino Land Co. Ltd. 18,000  26,322 
Sun Hung Kai Properties Ltd. 3,500  41,119 
SUNeVision Holdings Ltd. 4,000  2,621 
Swire Properties Ltd. 4,200  9,680 
Tam Jai International Co. Ltd. 2,000  666 
Techtronic Industries Co. Ltd. 500  5,897 
Texhong Textile Group Ltd. 3,500  3,288 
Time Interconnect Technology Ltd. 8,000  2,315 
Value Partners Group Ltd. 8,000  2,346 
VSTECS Holdings Ltd. 2,000  1,322 
VTech Holdings Ltd. 1,300  8,841 
Wharf Real Estate Investment Co. Ltd. 2,000  9,100 
Yue Yuen Industrial Holdings Ltd. 6,000  8,946 
Zensun Enterprises Ltd.(1)
3,000  947 
699,555 
Ireland — 0.5%
AIB Group PLC 4,535  10,287 
Bank of Ireland Group PLC 6,964  42,909 
Cairn Homes PLC 3,773  3,763 
Dalata Hotel Group PLC(1)
1,251  4,382 
Glenveagh Properties PLC(1)
5,562  5,661 
Kerry Group PLC, A Shares 286  29,493 
Kingspan Group PLC 234  13,249 
Origin Enterprises PLC 1,921  7,201 
Smurfit Kappa Group PLC 908  30,445 
Uniphar PLC(1)
393  1,341 
148,731 
Israel — 1.1%
AFI Properties Ltd. 13  642 
Africa Israel Residences Ltd. 32  1,690 
Airport City Ltd.(1)
147  3,076 
Alony Hetz Properties & Investments Ltd. 322  5,193 
Altshuler Shaham Penn Ltd. 336  1,028 
Amos Luzon Development & Energy Group Ltd.(1)
1,331  758 
Amot Investments Ltd. 466  3,330 
Argo Properties NV(1)
20  637 
AudioCodes Ltd. 33  734 
Aura Investments Ltd. 320  621 
Azorim-Investment Development & Construction Co. Ltd. 328  1,341 
Azrieli Group Ltd. 47  3,899 
B Communications Ltd.(1)
188  971 
69

Avantis Responsible International Equity ETF
Shares Value
Bank Hapoalim BM 3,173  $ 32,896 
Bank Leumi Le-Israel BM 2,899  30,646 
Big Shopping Centers Ltd. 19  2,717 
Blue Square Real Estate Ltd. 21  1,815 
Caesarstone Ltd. 88  897 
Camtek Ltd.(1)
20  537 
Carasso Motors Ltd. 393  2,491 
Cellebrite DI Ltd.(1)(2)
39  189 
Ceragon Networks Ltd.(1)(2)
564  1,246 
Check Point Software Technologies Ltd.(1)
146  17,555 
Cognyte Software Ltd.(1)
267  1,394 
CyberArk Software Ltd.(1)
23  3,318 
Danel Adir Yeoshua Ltd. 17  2,077 
Delek Automotive Systems Ltd. 397  6,122 
Delta Galil Industries Ltd. 57  3,024 
Electra Consumer Products 1970 Ltd. 37  1,711 
Energix-Renewable Energies Ltd. 151  688 
FIBI Holdings Ltd. 78  4,100 
Formula Systems 1985 Ltd. 7  695 
Fox Wizel Ltd. 22  3,193 
Gazit-Globe Ltd. 409  2,662 
Gilat Satellite Networks Ltd.(1)
151  981 
Hilan Ltd. 48  2,921 
ICL Group Ltd. 1,446  13,807 
Infinya Ltd. 31  3,145 
Innoviz Technologies Ltd.(1)
177  889 
Isracard Ltd. 1,434  4,773 
Israel Land Development - Urban Renewal Ltd. 151  2,691 
Israel Shipyards Industries 22  643 
Isras Investment Co. Ltd. 11  2,635 
Ituran Location and Control Ltd. 93  2,312 
M Yochananof & Sons Ltd. 29  1,824 
Magic Software Enterprises Ltd. 159  2,730 
Matrix IT Ltd. 77  2,021 
Maytronics Ltd. 29  417 
Mega Or Holdings Ltd. 33  1,141 
Melisron Ltd. 42  3,430 
Mivne Real Estate KD Ltd. 821  3,013 
Mizrahi Tefahot Bank Ltd. 438  17,814 
Nano Dimension Ltd., ADR(1)(2)
142  422 
Neto Malinda Trading Ltd.(1)
33  1,278 
Nice Ltd., ADR(1)(2)
39  8,321 
Norstar Holdings, Inc. 79  759 
Nova Ltd.(1)
67  6,575 
One Software Technologies Ltd. 225  4,148 
OY Nofar Energy Ltd.(1)
22  738 
Partner Communications Co. Ltd.(1)
678  5,864 
Perion Network Ltd.(1)
169  3,438 
Prashkovsky Investments and Construction Ltd. 37  1,237 
Property & Building Corp. Ltd.(1)
11  1,128 
RADA Electronic Industries Ltd.(1)
22  221 
70

Avantis Responsible International Equity ETF
Shares Value
Radware Ltd.(1)
97  $ 2,082 
Retailors Ltd. 70  1,804 
Sapiens International Corp. NV 52  1,169 
Scope Metals Group Ltd. 71  3,559 
Shufersal Ltd. 1,427  9,773 
Sisram Medical Ltd. 400  467 
Strauss Group Ltd. 150  3,923 
Summit Real Estate Holdings Ltd. 67  1,263 
Tamar Petroleum Ltd. 278  899 
Tel Aviv Stock Exchange Ltd. 440  2,092 
Teva Pharmaceutical Industries Ltd., ADR(1)
1,412  12,765 
Wix.com Ltd.(1)
28  1,772 
YH Dimri Construction & Development Ltd. 32  2,537 
289,314 
Italy — 2.1%
ACEA SpA 667  7,987 
Amplifon SpA 279  7,271 
Anima Holding SpA 135  459 
Arnoldo Mondadori Editore SpA 1,063  1,735 
Assicurazioni Generali SpA 1,081  15,855 
Atlantia SpA 1,450  33,203 
Autogrill SpA(1)
857  5,621 
Azimut Holding SpA 826  13,158 
Banca Generali SpA 374  9,887 
Banca IFIS SpA 231  2,758 
Banca Mediolanum SpA 1,177  7,500 
Banco BPM SpA 8,437  20,948 
BFF Bank SpA 1,260  7,976 
Brembo SpA 278  2,550 
Brunello Cucinelli SpA 220  11,394 
Cairo Communication SpA 670  1,042 
Carel Industries SpA 67  1,436 
CNH Industrial NV 2,748  33,457 
d'Amico International Shipping SA(1)
13,842  3,325 
Davide Campari-Milano NV 277  2,718 
De' Longhi SpA 228  3,982 
DiaSorin SpA 11  1,443 
Digital Bros SpA 45  1,110 
Digital Value SpA(1)
9  600 
doValue SpA 317  1,816 
Enav SpA(1)
699  2,890 
Esprinet SpA 120  816 
Ferrari NV 122  23,551 
Fila SpA 87  656 
Fincantieri SpA(1)
4,368  2,190 
FinecoBank Banca Fineco SpA 1,076  11,634 
Geox SpA(1)
567  440 
GVS SpA(1)
78  704 
Infrastrutture Wireless Italiane SpA 177  1,640 
Innovatec SpA(1)
280  544 
Interpump Group SpA 29  1,023 
71

Avantis Responsible International Equity ETF
Shares Value
Intesa Sanpaolo SpA 23,533  $ 40,512 
Iveco Group NV(1)
809  4,091 
Juventus Football Club SpA(1)
6,262  2,265 
Leonardo SpA 1,800  14,731 
Maire Tecnimont SpA 973  2,469 
MARR SpA 144  1,691 
Mediobanca Banca di Credito Finanziario SpA 1,513  11,977 
MFE-MediaForEurope NV, Class A(1)
4,931  2,092 
MFE-MediaForEurope NV, Class B(1)
1,792  1,042 
Moncler SpA 247  10,989 
Nexi SpA(1)
119  976 
Orsero SpA 91  1,502 
OVS SpA 1,733  2,621 
Piaggio & C SpA 723  1,766 
Poste Italiane SpA 1,900  15,185 
Prysmian SpA 590  18,103 
RAI Way SpA 743  3,594 
Recordati Industria Chimica e Farmaceutica SpA 39  1,591 
Reply SpA 20  2,354 
Safilo Group SpA(1)
778  1,090 
Salvatore Ferragamo SpA 333  5,356 
Sanlorenzo SpA/Ameglia 32  1,005 
Sesa SpA 60  7,334 
SOL SpA 100  1,786 
Stellantis NV 3,788  50,458 
Technogym SpA 498  3,415 
Terna - Rete Elettrica Nazionale 7,046  50,092 
Tod's SpA(1)
50  2,020 
UniCredit SpA 4,917  48,117 
Unieuro SpA(2)
91  1,035 
Unipol Gruppo SpA 1,493  6,252 
Wiit SpA 43  764 
563,594 
Japan — 21.1%
A&D HOLON Holdings Co. Ltd. 100  685 
Advantest Corp. 300  16,991 
Adways, Inc. 100  536 
Aeon Co. Ltd.(2)
1,800  35,110 
Aeon Fantasy Co. Ltd. 100  2,565 
Aeon Mall Co. Ltd. 800  9,542 
Aiful Corp. 1,200  3,386 
Ain Holdings, Inc. 100  5,715 
Air Water, Inc. 1,100  13,761 
Aisan Industry Co. Ltd. 700  3,666 
Aisin Corp. 300  8,920 
Ajinomoto Co., Inc. 800  22,112 
Akatsuki, Inc. 100  1,700 
Akebono Brake Industry Co. Ltd.(1)
700  853 
Alconix Corp. 100  1,017 
Alfresa Holdings Corp.(2)
200  2,393 
72

Avantis Responsible International Equity ETF
Shares Value
Alpen Co. Ltd. 100  $ 1,505 
Alps Alpine Co. Ltd. 900  8,051 
Altech Corp. 100  1,340 
Amada Co. Ltd. 900  7,042 
Amano Corp. 300  5,550 
Anritsu Corp. 700  8,251 
AOKI Holdings, Inc. 100  506 
Aoyama Trading Co. Ltd. 400  2,654 
Aoyama Zaisan Networks Co. Ltd. 100  690 
Aozora Bank Ltd. 700  13,512 
Arata Corp. 100  2,963 
Arcland Sakamoto Co. Ltd. 100  1,072 
Arcland Service Holdings Co. Ltd. 100  1,488 
Arcs Co. Ltd. 300  4,387 
Argo Graphics, Inc. 100  2,783 
Arisawa Manufacturing Co. Ltd. 100  954 
ArtSpark Holdings, Inc. 200  1,338 
Aruhi Corp.(1)
100  758 
Asahi Co. Ltd. 100  955 
Asahi Diamond Industrial Co. Ltd. 400  2,232 
Asahi Group Holdings Ltd. 300  10,058 
Asahi Holdings, Inc. 300  4,471 
Asahi Intecc Co. Ltd. 100  1,779 
Asahi Kasei Corp. 4,300  31,423 
ASAHI YUKIZAI Corp. 100  1,646 
Asanuma Corp. 100  2,026 
Asics Corp. 700  12,799 
ASKA Pharmaceutical Holdings Co. Ltd. 100  850 
ASKUL Corp. 200  2,642 
Astellas Pharma, Inc. 2,300  32,609 
Atrae, Inc.(1)
100  1,155 
Aucnet, Inc. 100  1,551 
Autobacs Seven Co. Ltd. 700  7,175 
Avant Corp. 100  1,082 
Axial Retailing, Inc. 100  2,496 
Azbil Corp. 100  2,849 
Bandai Namco Holdings, Inc. 500  37,518 
Bank of Kyoto Ltd. 100  3,898 
Bank of the Ryukyus Ltd. 200  1,114 
Belc Co. Ltd. 100  4,009 
Belluna Co. Ltd. 700  3,710 
Benesse Holdings, Inc. 700  11,002 
BeNext-Yumeshin Group Co. 100  1,179 
Bic Camera, Inc.(2)
700  5,730 
BIPROGY Inc 400  8,859 
BML, Inc. 100  2,559 
Bridgestone Corp. 1,200  46,049 
Brother Industries Ltd. 1,100  21,051 
Canon Marketing Japan, Inc. 100  2,268 
Canon, Inc., ADR 638  15,235 
Capcom Co. Ltd. 700  19,106 
73

Avantis Responsible International Equity ETF
Shares Value
Carenet, Inc. 200  $ 1,713 
Casio Computer Co. Ltd. 300  2,833 
Cawachi Ltd. 100  1,518 
Central Japan Railway Co. 100  11,773 
Charm Care Corp. KK 100  895 
Chiba Bank Ltd. 1,900  10,263 
Chiyoda Corp.(1)
100  285 
Chugai Pharmaceutical Co. Ltd. 1,100  28,389 
Citizen Watch Co. Ltd. 1,900  8,118 
CKD Corp. 300  3,947 
CMIC Holdings Co. Ltd. 100  1,188 
CMK Corp. 100  336 
Coca-Cola Bottlers Japan Holdings, Inc. 700  7,159 
COLOPL, Inc. 100  505 
Comture Corp. 100  1,742 
Concordia Financial Group Ltd. 2,500  7,928 
Cosmos Pharmaceutical Corp. 100  10,532 
Credit Saison Co. Ltd. 1,100  13,839 
Creek & River Co. Ltd. 100  1,731 
CrowdWorks, Inc.(1)
100  1,054 
CyberAgent, Inc. 900  8,774 
Dai Nippon Printing Co. Ltd. 700  14,734 
Dai-Dan Co. Ltd. 100  1,597 
Dai-ichi Life Holdings, Inc. 2,300  39,739 
Daifuku Co. Ltd. 100  5,834 
Daihen Corp. 100  2,961 
Daiichi Sankyo Co. Ltd. 1,100  33,057 
Daikin Industries Ltd. 100  17,457 
Daishinku Corp. 700  4,928 
Daito Pharmaceutical Co. Ltd. 100  1,908 
Daito Trust Construction Co. Ltd. 300  29,513 
Daiwa House Industry Co. Ltd. 800  17,886 
Daiwa Securities Group, Inc. 3,800  16,588 
DCM Holdings Co. Ltd.(2)
700  5,191 
DeNA Co. Ltd. 100  1,368 
Denso Corp. 200  10,916 
Dentsu Group, Inc. 700  22,543 
Dexerials Corp. 700  19,462 
Digital Arts, Inc. 100  4,647 
Digital Garage, Inc. 200  5,575 
Digital Holdings, Inc. 100  933 
Digital Information Technologies Corp. 100  1,121 
Direct Marketing MiX, Inc. 100  1,324 
Disco Corp. 100  24,281 
DMG Mori Co. Ltd. 400  5,191 
Doshisha Co. Ltd. 100  1,093 
DTS Corp. 100  2,576 
Duskin Co. Ltd. 200  4,123 
E-Guardian, Inc. 100  2,152 
Eagle Industry Co. Ltd. 100  840 
East Japan Railway Co. 200  10,359 
74

Avantis Responsible International Equity ETF
Shares Value
Ebara Corp. 700  $ 26,517 
EDION Corp.(2)
700  6,022 
Eiken Chemical Co. Ltd. 200  2,733 
Eisai Co. Ltd. 500  20,387 
Eizo Corp. 100  2,722 
Elan Corp. 200  1,624 
Elematec Corp. 200  1,950 
en Japan, Inc. 100  1,709 
Envipro Holdings, Inc. 100  686 
Exedy Corp. 100  1,288 
F.C.C. Co. Ltd. 700  7,245 
FANUC Corp. 100  16,110 
Fast Retailing Co. Ltd. 100  58,473 
FDK Corp.(1)
100  623 
Ferrotec Holdings Corp. 400  9,105 
Fibergate, Inc. 100  733 
FIDEA Holdings Co. Ltd. 100  949 
Financial Products Group Co. Ltd. 700  6,285 
First Bank of Toyama Ltd. 300  908 
Fixstars Corp. 100  876 
FP Corp. 100  2,347 
Frontier Management, Inc. 100  969 
Fuji Electric Co. Ltd. 700  30,241 
Fuji Oil Co. Ltd. 400  1,067 
Fuji Seal International, Inc. 200  2,219 
Fuji Soft, Inc. 100  5,839 
Fujibo Holdings, Inc. 100  2,595 
FUJIFILM Holdings Corp. 100  5,077 
Fujikura Ltd. 1,300  9,232 
Fujitsu Ltd. 400  47,069 
Fukui Computer Holdings, Inc. 100  2,547 
Fukuoka Financial Group, Inc. 900  16,083 
Fukuyama Transporting Co. Ltd. 100  2,271 
FULLCAST Holdings Co. Ltd. 100  1,750 
Funai Soken Holdings, Inc. 200  3,426 
Furukawa Battery Co. Ltd. 100  831 
Furukawa Co. Ltd. 100  907 
Furukawa Electric Co. Ltd. 700  12,263 
Furuno Electric Co. Ltd. 100  805 
Futaba Corp. 100  475 
Future Corp. 100  1,217 
Fuyo General Lease Co. Ltd. 100  5,905 
G-7 Holdings, Inc. 100  1,072 
G-Tekt Corp. 100  1,000 
Gakken Holdings Co. Ltd. 200  1,409 
Genky DrugStores Co. Ltd. 100  2,630 
GLOBERIDE, Inc. 100  1,960 
Glory Ltd. 700  11,052 
GMO Financial Holdings, Inc. 200  1,088 
GMO Payment Gateway, Inc. 100  7,930 
Goldcrest Co. Ltd. 100  1,246 
75

Avantis Responsible International Equity ETF
Shares Value
Goldwin, Inc. 100  $ 5,955 
Golf Digest Online, Inc. 100  1,515 
GS Yuasa Corp. 300  5,444 
GungHo Online Entertainment, Inc. 700  11,560 
Gunze Ltd. 100  2,826 
H.U. Group Holdings, Inc. 700  14,218 
H2O Retailing Corp. 700  4,932 
Hachijuni Bank Ltd. 1,500  5,144 
Hakuhodo DY Holdings, Inc. 1,100  9,814 
Hakuto Co. Ltd. 100  2,376 
Hamakyorex Co. Ltd. 100  2,277 
Hamamatsu Photonics KK 300  12,720 
Hankyu Hanshin Holdings, Inc. 700  20,992 
Hanwa Co. Ltd. 200  4,948 
Happinet Corp. 100  1,159 
Haseko Corp. 1,400  16,043 
Heiwa Real Estate Co. Ltd. 200  5,640 
Heiwado Co. Ltd. 200  2,859 
Hirose Electric Co. Ltd. 100  14,170 
Hitachi Construction Machinery Co. Ltd. 300  6,167 
Hitachi Transport System Ltd. 100  6,313 
Hokko Chemical Industry Co. Ltd. 100  760 
Honda Motor Co. Ltd., ADR 2,263  60,015 
Honeys Holdings Co. Ltd. 100  887 
Hoosiers Holdings Co. Ltd. 200  1,160 
Horiba Ltd. 200  9,111 
Hosiden Corp. 100  1,136 
Hotland Co. Ltd. 100  938 
Hoya Corp. 300  30,593 
HS Holdings Co. Ltd. 700  5,857 
Hulic Co. Ltd. 2,000  15,156 
Hyakujushi Bank Ltd. 100  1,220 
I'rom Group Co. Ltd. 100  1,731 
Ibiden Co. Ltd. 300  9,522 
Ichiyoshi Securities Co. Ltd. 200  911 
Idec Corp. 200  4,178 
IDOM, Inc. 700  4,143 
Iida Group Holdings Co. Ltd.(2)
700  10,663 
Inaba Denki Sangyo Co. Ltd. 700  13,805 
Infocom Corp. 100  1,449 
INFRONEER Holdings, Inc. 1,000  7,148 
Insource Co. Ltd. 100  2,007 
Intage Holdings, Inc. 100  1,148 
Internet Initiative Japan, Inc. 700  25,281 
Isetan Mitsukoshi Holdings Ltd. 800  6,322 
Ishihara Sangyo Kaisha Ltd. 700  5,625 
Isuzu Motors Ltd. 2,100  26,081 
Ito En Ltd. 100  4,389 
Itochu Techno-Solutions Corp. 200  5,047 
IwaiCosmo Holdings, Inc. 100  902 
J Front Retailing Co. Ltd. 1,300  10,303 
76

Avantis Responsible International Equity ETF
Shares Value
J Trust Co. Ltd. 700  $ 3,096 
J-Lease Co. Ltd. 100  1,847 
J-Oil Mills, Inc. 100  1,149 
JAC Recruitment Co. Ltd. 100  1,415 
JAFCO Group Co. Ltd. 500  7,236 
Japan Aviation Electronics Industry Ltd. 700  11,706 
Japan Communications, Inc.(1)
700  1,140 
Japan Exchange Group, Inc. 1,100  16,392 
Japan Lifeline Co. Ltd. 500  3,630 
Japan Material Co. Ltd. 100  1,384 
Japan Post Bank Co. Ltd. 700  5,103 
Japan Post Holdings Co. Ltd. 3,400  23,456 
Japan Post Insurance Co. Ltd. 1,000  15,318 
Japan Wool Textile Co. Ltd. 200  1,470 
JINUSHI Co. Ltd. 100  1,439 
JM Holdings Co. Ltd. 100  1,145 
Joshin Denki Co. Ltd. 100  1,378 
Joyful Honda Co. Ltd. 300  3,742 
JSR Corp. 600  13,384 
JTEKT Corp. 1,200  8,447 
Juki Corp. 100  506 
Justsystems Corp. 100  2,511 
JVCKenwood Corp. 900  1,321 
K's Holdings Corp. 1,100  10,135 
Kaga Electronics Co. Ltd. 100  2,960 
Kakaku.com, Inc. 100  1,841 
Kamigumi Co. Ltd. 300  5,871 
Kanamoto Co. Ltd. 200  3,079 
Kanematsu Corp. 700  7,573 
Kanematsu Electronics Ltd. 100  3,051 
Kao Corp. 700  30,310 
Kato Sangyo Co. Ltd. 100  2,459 
KDDI Corp. 2,800  85,683 
Keihanshin Building Co. Ltd. 100  903 
Kenko Mayonnaise Co. Ltd. 100  1,098 
KH Neochem Co. Ltd. 700  12,881 
Kintetsu Group Holdings Co. Ltd. 100  3,396 
Kirin Holdings Co. Ltd. 700  11,523 
Kito Corp. 100  1,940 
Koa Corp. 200  3,382 
Kobe Bussan Co. Ltd. 300  7,640 
Kohnan Shoji Co. Ltd. 100  2,479 
Kojima Co. Ltd.(2)
200  917 
Kokusai Pulp & Paper Co. Ltd. 700  3,568 
Kokuyo Co. Ltd. 700  9,015 
Komatsu Ltd. 1,200  25,102 
KOMEDA Holdings Co. Ltd. 100  1,650 
Komeri Co. Ltd. 200  3,756 
Konica Minolta, Inc.(2)
2,800  9,695 
Konoike Transport Co. Ltd. 200  1,898 
Kosaido Holdings Co. Ltd.(1)
100  860 
77

Avantis Responsible International Equity ETF
Shares Value
Kubota Corp. 1,000  $ 15,530 
Kumagai Gumi Co. Ltd. 200  3,826 
Kurabo Industries Ltd. 100  1,526 
Kuraray Co. Ltd. 2,100  15,951 
Kurita Water Industries Ltd. 200  7,781 
Kusuri no Aoki Holdings Co. Ltd. 100  4,411 
Kyocera Corp. 300  16,675 
Kyowa Kirin Co. Ltd. 200  4,483 
Kyushu Financial Group, Inc. 1,400  3,824 
LAND Co. Ltd. 4,500  324 
Lasertec Corp. 100  13,845 
Lawson, Inc. 300  9,942 
Leopalace21 Corp.(1)
200  475 
Link & Motivation, Inc. 100  458 
Lintec Corp. 200  3,333 
Lion Corp. 100  1,168 
LITALICO, Inc. 100  2,089 
Lixil Corp. 800  13,912 
m-up Holdings, Inc. 100  1,035 
M3, Inc. 200  6,406 
Mabuchi Motor Co. Ltd. 100  2,839 
Macnica Holdings, Inc. 200  4,291 
Maeda Kosen Co. Ltd. 100  2,322 
Mani, Inc. 100  1,254 
Marubeni Corp. 2,800  29,182 
Marui Group Co. Ltd.(2)
1,000  17,936 
MARUKA FURUSATO Corp. 100  2,437 
Maruwa Co. Ltd. 100  12,580 
Maruzen Showa Unyu Co. Ltd. 100  2,283 
MatsukiyoCocokara & Co. 100  3,968 
Maxell Ltd. 700  7,425 
Mazda Motor Corp. 3,600  31,882 
McDonald's Holdings Co. Japan Ltd. 200  7,149 
Mebuki Financial Group, Inc.(2)
5,000  9,583 
Medical Data Vision Co. Ltd. 100  801 
Medipal Holdings Corp. 700  9,577 
Meidensha Corp. 100  1,433 
MEIJI Holdings Co. Ltd. 500  23,819 
Meiko Electronics Co. Ltd. 200  4,646 
Meitec Corp. 300  5,275 
Menicon Co. Ltd. 100  2,401 
Micronics Japan Co. Ltd. 700  7,171 
MINEBEA MITSUMI, Inc. 1,500  25,781 
Ministop Co. Ltd. 100  1,015 
Miroku Jyoho Service Co. Ltd. 200  2,214 
Mitsubishi Electric Corp. 2,300  23,253 
Mitsubishi Estate Co. Ltd. 1,100  14,814 
Mitsubishi Gas Chemical Co., Inc. 400  5,946 
Mitsubishi HC Capital, Inc. 3,100  15,023 
Mitsubishi Heavy Industries Ltd. 1,300  50,116 
Mitsubishi Logistics Corp. 200  5,197 
78

Avantis Responsible International Equity ETF
Shares Value
Mitsubishi Motors Corp.(1)
1,300  $ 5,200 
Mitsubishi Pencil Co. Ltd. 100  1,003 
Mitsubishi Research Institute, Inc. 100  2,994 
Mitsubishi Shokuhin Co. Ltd. 100  2,455 
Mitsubishi UFJ Financial Group, Inc., ADR 15,217  78,368 
Mitsui Chemicals, Inc. 1,000  22,466 
Mitsui Fudosan Co. Ltd. 900  18,217 
Mitsui Matsushima Holdings Co. Ltd. 100  2,618 
Mitsui-Soko Holdings Co. Ltd. 100  2,417 
Mixi, Inc. 100  1,717 
Miyazaki Bank Ltd. 100  1,598 
Mizuho Financial Group, Inc., ADR(2)
17,783  40,723 
Mizuho Leasing Co. Ltd. 200  4,831 
Mizuho Medy Co. Ltd. 100  2,144 
Mizuno Corp. 100  1,924 
Monex Group, Inc.(2)
600  2,140 
MonotaRO Co. Ltd. 300  5,383 
Morinaga & Co. Ltd. 100  2,856 
MOS Food Services, Inc. 200  4,565 
MS&AD Insurance Group Holdings, Inc. 1,200  35,803 
Murata Manufacturing Co. Ltd. 900  48,462 
Musashi Seimitsu Industry Co. Ltd. 100  1,211 
Nabtesco Corp. 800  18,944 
Nagahori Corp. 100  876 
Nagase & Co. Ltd. 700  10,046 
NEC Corp. 1,000  36,472 
Neturen Co. Ltd. 700  3,450 
Nexon Co. Ltd. 300  5,974 
NGK Insulators Ltd. 1,100  15,705 
NGK Spark Plug Co. Ltd. 800  16,414 
NHK Spring Co. Ltd. 1,100  7,429 
Nichias Corp. 300  5,181 
Nichiha Corp. 100  1,993 
Nidec Corp. 100  6,643 
Nifco, Inc. 700  15,799 
Nihon Chouzai Co. Ltd. 100  962 
Nihon House Holdings Co. Ltd. 200  610 
Nihon M&A Center Holdings, Inc. 700  8,675 
Nikkon Holdings Co. Ltd. 300  5,078 
Nikon Corp. 700  7,991 
Nintendo Co. Ltd. 100  40,935 
Nippon Carbon Co. Ltd. 100  2,942 
Nippon Chemi-Con Corp.(1)
100  1,311 
Nippon Coke & Engineering Co. Ltd. 900  651 
Nippon Denko Co. Ltd. 700  1,858 
NIPPON EXPRESS HOLDINGS, Inc. 300  16,507 
Nippon Paper Industries Co. Ltd. 700  4,567 
Nippon Parking Development Co. Ltd. 1,300  1,503 
Nippon Pillar Packing Co. Ltd. 100  1,861 
Nippon Sanso Holdings Corp. 200  3,637 
Nippon Seiki Co. Ltd. 300  1,773 
79

Avantis Responsible International Equity ETF
Shares Value
Nippon Sheet Glass Co. Ltd.(1)
400  $ 1,525 
Nippon Shokubai Co. Ltd. 100  3,965 
Nippon Signal Co. Ltd. 300  2,005 
Nippon Soda Co. Ltd. 200  6,614 
Nippon Steel Trading Corp. 100  3,847 
Nippon Telegraph & Telephone Corp. 1,900  51,498 
Nippon Thompson Co. Ltd. 700  2,875 
Nippon Yakin Kogyo Co. Ltd. 100  2,065 
Nipro Corp. 900  7,327 
Nishi-Nippon Railroad Co. Ltd. 700  14,484 
Nishimatsuya Chain Co. Ltd. 700  8,199 
Nishio Rent All Co. Ltd. 100  2,086 
Nissan Chemical Corp. 200  10,077 
Nissha Co. Ltd. 700  9,103 
Nissin Electric Co. Ltd. 200  2,131 
Nissin Foods Holdings Co. Ltd. 100  7,155 
Nitori Holdings Co. Ltd. 100  9,560 
Nitto Boseki Co. Ltd. 100  1,812 
Nitto Denko Corp. 400  24,653 
Nitto Kogyo Corp. 100  1,845 
Nittoc Construction Co. Ltd. 100  648 
NOF Corp. 100  3,790 
Nohmi Bosai Ltd. 100  1,183 
Nojima Corp. 700  14,103 
NOK Corp. 700  6,221 
Nomura Co. Ltd. 100  677 
North Pacific Bank Ltd. 1,300  2,152 
NSD Co. Ltd. 100  1,797 
NSK Ltd. 700  3,795 
NTT Data Corp. 1,100  15,480 
Obayashi Corp. 2,700  18,675 
Obic Co. Ltd. 100  14,790 
Odakyu Electric Railway Co. Ltd. 700  9,563 
Ogaki Kyoritsu Bank Ltd. 200  2,481 
Oisix ra daichi, Inc.(1)
100  1,360 
Oita Bank Ltd. 100  1,361 
Oji Holdings Corp. 4,800  19,151 
Okamura Corp. 200  1,910 
Oki Electric Industry Co. Ltd. 700  3,777 
Olympus Corp. 1,700  36,205 
Omron Corp. 100  5,263 
Ono Pharmaceutical Co. Ltd. 200  4,774 
Open House Group Co. Ltd. 100  3,914 
Oracle Corp. (Tokyo) 100  5,957 
Orient Corp. 4,100  3,585 
Oriental Land Co. Ltd. 100  14,909 
Oriental Shiraishi Corp. 800  1,447 
ORIX Corp., ADR 505  41,587 
Otsuka Corp. 100  3,232 
Pacific Industrial Co. Ltd. 700  5,450 
Pan Pacific International Holdings Corp. 1,100  19,751 
80

Avantis Responsible International Equity ETF
Shares Value
Park24 Co. Ltd.(1)
700  $ 9,974 
Persol Holdings Co. Ltd. 700  14,052 
Pigeon Corp. 200  2,979 
Pilot Corp. 100  3,579 
Piolax, Inc. 100  1,447 
Pola Orbis Holdings, Inc. 100  1,103 
Pole To Win Holdings Inc 700  5,091 
Premium Group Co. Ltd. 300  3,721 
Press Kogyo Co. Ltd. 700  2,214 
Prestige International, Inc. 700  3,362 
Qol Holdings Co. Ltd. 100  907 
Raccoon Holdings, Inc. 100  996 
Rakus Co. Ltd. 100  1,177 
Rakuten Group, Inc. 1,900  9,221 
RaQualia Pharma, Inc.(1)
100  756 
Recruit Holdings Co. Ltd. 1,500  47,686 
Relia, Inc. 300  2,177 
Relo Group, Inc. 500  8,037 
Renesas Electronics Corp.(1)
1,200  11,362 
Rengo Co. Ltd.(2)
1,300  7,659 
Resona Holdings, Inc. 7,700  28,346 
Resorttrust, Inc. 700  11,233 
Retail Partners Co. Ltd. 100  770 
Ricoh Co. Ltd. 2,100  16,505 
Ricoh Leasing Co. Ltd. 100  2,574 
Rion Co. Ltd. 100  1,526 
Riso Kyoiku Co. Ltd. 700  1,570 
Rohm Co. Ltd. 200  14,964 
Roland DG Corp. 100  2,346 
Round One Corp. 700  10,072 
Ryoden Corp. 100  1,178 
Ryohin Keikaku Co. Ltd. 700  6,492 
S-Pool, Inc. 700  5,399 
Sakai Chemical Industry Co. Ltd. 100  1,411 
Sakai Moving Service Co. Ltd. 100  3,300 
San ju San Financial Group, Inc. 100  1,065 
San-In Godo Bank Ltd. 800  3,933 
Sangetsu Corp. 200  2,336 
Sankyu, Inc. 200  6,151 
Santen Pharmaceutical Co. Ltd. 1,600  11,495 
Sanwa Holdings Corp. 1,100  10,884 
Sapporo Holdings Ltd. 200  4,384 
Sato Holdings Corp. 100  1,374 
SB Technology Corp. 100  1,780 
SCREEN Holdings Co. Ltd. 200  13,285 
Scroll Corp. 700  3,944 
SCSK Corp. 600  9,770 
Secom Co. Ltd. 300  19,113 
Seibu Holdings, Inc. 700  7,092 
Seiko Epson Corp. 1,400  21,999 
Seiko Holdings Corp. 200  4,121 
81

Avantis Responsible International Equity ETF
Shares Value
Seino Holdings Co. Ltd. 700  $ 5,559 
Sekisui House Ltd. 700  11,903 
Sekisui Jushi Corp. 100  1,236 
Senshu Ikeda Holdings, Inc. 1,000  1,588 
Septeni Holdings Co. Ltd.(2)
700  2,495 
Seria Co. Ltd. 100  1,950 
SG Holdings Co. Ltd. 1,000  16,587 
Sharp Corp. 1,100  7,874 
Shibaura Electronics Co. Ltd. 100  3,744 
Shiga Bank Ltd.(2)
200  3,690 
Shikoku Bank Ltd. 100  616 
Shimadzu Corp. 400  11,682 
Shimamura Co. Ltd. 100  9,064 
Shimano, Inc. 100  17,691 
Shin Nippon Biomedical Laboratories Ltd.(2)
200  3,410 
Shin-Etsu Chemical Co. Ltd. 400  46,453 
Shin-Etsu Polymer Co. Ltd. 100  957 
Shionogi & Co. Ltd. 200  9,765 
Ship Healthcare Holdings, Inc. 700  13,087 
Shiseido Co. Ltd. 600  22,664 
Shizuoka Bank Ltd. 1,100  6,366 
Shoei Co. Ltd. 100  3,963 
Showa Denko KK 900  13,836 
SIGMAXYZ Holdings, Inc. 200  1,762 
Sinko Industries Ltd. 100  1,157 
SKY Perfect JSAT Holdings, Inc. 1,100  4,372 
Skylark Holdings Co. Ltd.(1)(2)
700  7,700 
SMS Co. Ltd. 100  2,277 
Snow Peak, Inc. 100  1,559 
Softbank Corp. 3,000  32,890 
SoftBank Group Corp. 1,200  47,534 
Sohgo Security Services Co. Ltd. 100  2,591 
Solasto Corp. 100  641 
Sompo Holdings, Inc. 1,100  47,164 
Sony Group Corp., ADR 1,005  79,747 
Sosei Group Corp.(1)
300  3,723 
Square Enix Holdings Co. Ltd. 100  4,342 
Stanley Electric Co. Ltd. 100  1,846 
Star Micronics Co. Ltd. 700  9,205 
Starts Corp., Inc. 300  5,763 
Subaru Corp. 2,100  38,173 
Sugi Holdings Co. Ltd. 100  4,243 
SUMCO Corp. 1,900  25,788 
Sumida Corp. 200  1,389 
Sumitomo Bakelite Co. Ltd. 100  3,152 
Sumitomo Dainippon Pharma Co. Ltd. 700  5,214 
Sumitomo Electric Industries Ltd. 1,200  13,746 
Sumitomo Forestry Co. Ltd. 700  11,835 
Sumitomo Mitsui Financial Group, Inc., ADR 8,919  53,960 
Sumitomo Mitsui Trust Holdings, Inc. 900  27,993 
Sumitomo Realty & Development Co. Ltd. 800  19,565 
82

Avantis Responsible International Equity ETF
Shares Value
Sumitomo Rubber Industries Ltd. 900  $ 7,723 
Sumitomo Warehouse Co. Ltd. 100  1,569 
Sun Frontier Fudousan Co. Ltd. 700  6,039 
Sundrug Co. Ltd. 400  9,787 
Suntory Beverage & Food Ltd. 700  25,569 
Suzuken Co. Ltd. 700  16,776 
Suzuki Motor Corp. 700  24,466 
SWCC Showa Holdings Co. Ltd. 700  9,171 
SymBio Pharmaceuticals Ltd.(1)
100  506 
Sysmex Corp. 100  6,113 
Systena Corp. 800  2,451 
Syuppin Co. Ltd. 100  890 
T&D Holdings, Inc. 1,700  18,566 
T-Gaia Corp. 100  1,189 
Tachi-S Co. Ltd. 100  878 
Taisei Corp. 1,000  30,320 
Taiyo Yuden Co. Ltd. 400  12,362 
Takaoka Toko Co. Ltd. 100  1,382 
Takara Bio, Inc. 100  1,401 
Takara Holdings, Inc. 500  3,794 
Takasago Thermal Engineering Co. Ltd. 700  8,271 
Takashimaya Co. Ltd.(2)
700  7,744 
Takeda Pharmaceutical Co. Ltd., ADR 1,792  24,640 
Tanaka Chemical Corp.(1)
100  1,109 
Tanseisha Co. Ltd. 100  570 
TDK Corp. 1,300  45,451 
TechMatrix Corp. 300  3,696 
TechnoPro Holdings, Inc. 700  15,746 
Teijin Ltd. 1,200  12,687 
Terumo Corp. 200  6,420 
TIS, Inc. 700  19,934 
TKC Corp. 100  2,499 
Toagosei Co. Ltd. 700  5,454 
Tochigi Bank Ltd. 200  414 
Toho Co. Ltd. 100  3,798 
Toho Holdings Co. Ltd. 300  3,973 
Tokai Carbon Co. Ltd. 700  5,110 
Tokai Corp/Gifu 100  1,323 
Tokai Rika Co. Ltd. 100  1,074 
Tokio Marine Holdings, Inc. 1,200  66,503 
Tokyo Century Corp. 200  7,143 
Tokyo Electron Device Ltd. 100  4,224 
Tokyo Electron Ltd. 100  31,364 
Tokyo Individualized Educational Institute, Inc. 100  409 
Tokyo Kiraboshi Financial Group, Inc. 200  3,225 
Tokyo Seimitsu Co. Ltd. 300  9,993 
Tokyo Tatemono Co. Ltd. 1,000  14,990 
Tokyu Corp. 1,200  14,265 
Tokyu Fudosan Holdings Corp. 1,600  8,598 
Tomy Co. Ltd. 700  6,636 
Topcon Corp. 900  12,140 
83

Avantis Responsible International Equity ETF
Shares Value
Toppan, Inc. 700  $ 10,993 
Topy Industries Ltd. 100  1,014 
Toray Industries, Inc. 5,100  29,103 
Torishima Pump Manufacturing Co. Ltd. 100  1,054 
Tosei Corp. 100  999 
Toshiba Corp. 300  11,110 
Toshiba TEC Corp. 100  2,976 
Tosho Co. Ltd. 100  826 
TOTO Ltd. 100  3,447 
Toyo Corp. 100  951 
Toyo Seikan Group Holdings Ltd. 900  10,650 
Toyo Tanso Co. Ltd. 100  2,423 
Toyo Tire Corp. 300  3,636 
Toyobo Co. Ltd. 700  5,304 
Toyoda Gosei Co. Ltd. 700  12,178 
Toyota Boshoku Corp. 500  7,261 
Toyota Industries Corp. 200  11,179 
Toyota Motor Corp., ADR 979  146,233 
Toyota Tsusho Corp. 600  21,005 
TPR Co. Ltd. 100  916 
Transcosmos, Inc. 200  5,517 
TRE Holdings Corp. 700  8,573 
Trend Micro, Inc. 500  30,784 
Trenders, Inc. 100  1,381 
Trusco Nakayama Corp. 100  1,398 
TS Tech Co. Ltd. 700  7,831 
TSI Holdings Co. Ltd. 700  1,949 
Tsukuba Bank Ltd. 700  983 
Tsuruha Holdings, Inc. 100  5,551 
TV Asahi Holdings Corp. 100  1,042 
Uchida Yoko Co. Ltd. 100  3,582 
Ulvac, Inc. 300  11,633 
Unicharm Corp. 700  24,326 
Unipres Corp. 700  4,823 
United Arrows Ltd. 100  1,313 
Unitika Ltd.(1)
700  1,302 
Ushio, Inc. 100  1,214 
USS Co. Ltd. 1,000  17,647 
UT Group Co. Ltd. 100  1,992 
UUUM Co. Ltd.(1)
100  779 
Valqua Ltd. 100  1,943 
ValueCommerce Co. Ltd. 100  1,826 
Vector, Inc. 200  1,671 
VT Holdings Co. Ltd. 700  2,424 
Wacoal Holdings Corp. 100  1,598 
Wacom Co. Ltd. 700  4,201 
Warabeya Nichiyo Holdings Co. Ltd. 100  1,628 
Welcia Holdings Co. Ltd. 100  2,094 
West Japan Railway Co. 100  3,892 
Will Group, Inc. 100  963 
Xebio Holdings Co. Ltd. 100  693 
84

Avantis Responsible International Equity ETF
Shares Value
YAC Holdings Co. Ltd. 100  $ 1,006 
Yakult Honsha Co. Ltd. 100  5,915 
YAMABIKO Corp. 100  816 
Yamada Holdings Co. Ltd. 4,700  16,267 
Yamaguchi Financial Group, Inc.(2)
1,200  6,584 
Yamaha Corp. 100  3,901 
Yamaha Motor Co. Ltd. 1,000  20,724 
Yamaichi Electronics Co. Ltd. 100  1,480 
Yamato Holdings Co. Ltd. 1,100  17,148 
Yamazen Corp. 700  4,687 
Yaskawa Electric Corp. 200  6,513 
Yellow Hat Ltd. 200  2,582 
Yokogawa Electric Corp. 400  6,981 
Yokohama Rubber Co. Ltd. 800  13,084 
Yokorei Co. Ltd. 200  1,326 
Yonex Co. Ltd. 500  5,653 
Yuasa Trading Co. Ltd. 100  2,519 
Z Holdings Corp. 700  2,058 
Zenkoku Hosho Co. Ltd. 300  9,913 
Zenrin Co. Ltd. 100  684 
ZIGExN Co. Ltd. 200  484 
ZOZO, Inc. 200  4,421 
5,675,845 
Netherlands — 3.4%
Aalberts NV 316  11,588 
ABN AMRO Bank NV, CVA 1,721  16,533 
Adyen NV(1)
47  72,528 
Aegon NV, NY Shares 10,633  47,742 
AerCap Holdings NV(1)
641  28,236 
Akzo Nobel NV 355  22,366 
Arcadis NV 248  7,906 
ASM International NV 82  22,295 
ASML Holding NV, NY Shares 389  190,587 
ASR Nederland NV 1,019  41,590 
B&S Group Sarl 217  1,103 
BE Semiconductor Industries NV 350  16,626 
Brunel International NV 65  609 
Coca-Cola Europacific Partners PLC 361  17,750 
Constellium SE(1)
188  2,504 
Corbion NV 102  2,896 
Flow Traders 288  5,763 
Heineken Holding NV 49  3,476 
Heineken NV 212  19,054 
IMCD NV 50  6,898 
ING Groep NV, ADR(2)
4,771  41,889 
InPost SA(1)
267  1,374 
Just Eat Takeaway.com NV(1)
689  11,462 
Koninklijke Ahold Delhaize NV 2,822  77,624 
Koninklijke BAM Groep NV(1)
2,152  5,736 
Koninklijke DSM NV 407  51,899 
Koninklijke KPN NV 16,049  51,069 
85

Avantis Responsible International Equity ETF
Shares Value
Koninklijke Philips NV, NY Shares 703  $ 11,656 
NN Group NV(2)
1,104  45,372 
Ordina NV 300  1,184 
Pharming Group NV(1)
3,412  4,103 
PostNL NV 3,534  7,530 
Prosus NV(1)
431  26,640 
Randstad NV 230  10,711 
TKH Group NV 276  9,629 
TomTom NV(1)
97  781 
Universal Music Group NV 338  6,712 
Van Lanschot Kempen NV 42  885 
Wolters Kluwer NV 121  11,833 
916,139 
New Zealand — 0.3%
a2 Milk Co. Ltd.(1)
1,612  6,132 
Arvida Group Ltd. 1,743  1,607 
Auckland International Airport Ltd.(1)
1,662  7,665 
Chorus Ltd. 2,738  13,409 
Fisher & Paykel Healthcare Corp. Ltd. 233  2,789 
Fletcher Building Ltd. 2,532  8,644 
KMD Brands Ltd. 3,188  2,099 
Mercury NZ Ltd. 3,064  10,843 
Meridian Energy Ltd. 967  2,950 
Pushpay Holdings Ltd.(1)
2,267  1,765 
Ryman Healthcare Ltd. 1,105  6,184 
Spark New Zealand Ltd. 4,623  15,293 
79,380 
Norway — 0.9%
2020 Bulkers Ltd.(1)
82  730 
ABG Sundal Collier Holding ASA 2,153  1,263 
Adevinta ASA(1)
170  1,375 
Atea ASA(1)
128  1,409 
Austevoll Seafood ASA 27  289 
Awilco LNG AS(1)
1,003  585 
B2Holding ASA 1,068  964 
Bakkafrost P/F 51  2,984 
Belships ASA 872  1,306 
Bonheur ASA 189  7,075 
Borr Drilling Ltd.(1)
997  3,885 
Borregaard ASA 345  5,262 
Crayon Group Holding ASA(1)
63  682 
DNB Bank ASA 1,458  27,722 
Elmera Group ASA 133  266 
Elopak ASA 680  1,361 
Europris ASA 531  3,186 
Gjensidige Forsikring ASA 248  5,033 
Grieg Seafood ASA 122  1,476 
Hunter Group ASA(1)
1,712  361 
Kahoot! ASA(1)
257  510 
Kid ASA 161  1,448 
Kitron ASA 364  729 
86

Avantis Responsible International Equity ETF
Shares Value
Kongsberg Automotive ASA(1)
7,409  $ 1,887 
Kongsberg Gruppen ASA 207  7,075 
Leroy Seafood Group ASA 481  3,214 
Magseis Fairfield ASA(1)
1,999  1,714 
Mowi ASA 1,066  21,855 
Nordic Semiconductor ASA(1)
160  2,446 
Norsk Hydro ASA 4,100  28,172 
Norske Skog ASA(1)
365  2,537 
Norwegian Energy Co. ASA(1)
327  11,735 
Odfjell Technology Ltd.(1)
80  200 
OKEA ASA 459  2,384 
Orkla ASA 815  6,825 
Panoro Energy ASA(1)
787  2,335 
Pareto Bank ASA 387  1,877 
Petronor E&P ASA(1)
501  43 
Protector Forsikring ASA 251  3,005 
Rana Gruber ASA(2)
253  1,100 
Scatec ASA 729  7,395 
Schibsted ASA, B Shares 307  5,265 
Schibsted ASA, Class A 231  4,227 
Siem Offshore, Inc.(1)
402  540 
Solstad Offshore ASA(1)
782  2,310 
SpareBank 1 Nord Norge 732  6,598 
Sparebank 1 Oestlandet 151  1,721 
SpareBank 1 SMN 820  9,984 
SpareBank 1 SR-Bank ASA 548  6,268 
Storebrand ASA 1,103  8,829 
Telenor ASA 1,032  11,293 
TGS ASA 637  9,694 
TOMRA Systems ASA 354  8,067 
Veidekke ASA 328  3,350 
253,846 
Portugal — 0.2%
Altri SGPS SA 969  5,468 
Banco Comercial Portugues SA, R Shares 23,428  3,409 
Corticeira Amorim SGPS SA 271  2,737 
CTT-Correios de Portugal SA 858  2,795 
EDP Renovaveis SA 489  11,859 
Greenvolt-Energias Renovaveis SA(1)
182  1,758 
Jeronimo Martins SGPS SA 480  10,642 
Mota-Engil SGPS SA 333  401 
Navigator Co. SA 943  3,742 
NOS SGPS SA 1,580  5,824 
Sonae SGPS SA 10,762  10,817 
59,452 
Singapore — 1.4%
Ascendas India Trust 6,000  4,881 
Aztech Global Ltd. 2,700  1,707 
Capitaland Investment Ltd. 4,700  12,374 
City Developments Ltd. 1,700  9,871 
ComfortDelGro Corp. Ltd. 21,300  21,467 
87

Avantis Responsible International Equity ETF
Shares Value
DBS Group Holdings Ltd. 2,300  $ 53,552 
Dyna-Mac Holdings Ltd.(1)
4,200  593 
Grab Holdings Ltd., Class A(1)
651  1,855 
Haw Par Corp. Ltd. 100  782 
Hong Fok Corp. Ltd. 5,000  3,785 
Hour Glass Ltd. 1,300  2,155 
Hutchison Port Holdings Trust, U Shares 55,000  11,802 
iFAST Corp. Ltd. 800  2,557 
ISDN Holdings Ltd. 1,300  440 
Jiutian Chemical Group Ltd. 24,900  1,651 
Maxeon Solar Technologies Ltd.(1)
133  2,640 
Netlink Nbn Management Pte. Ltd. 7,000  4,679 
Oversea-Chinese Banking Corp. Ltd. 5,300  45,682 
Raffles Medical Group Ltd. 8,100  8,060 
Rex International Holding Ltd.(1)
1,500  295 
Riverstone Holdings Ltd. 8,200  4,227 
Samudera Shipping Line Ltd. 3,200  2,282 
SATS Ltd.(1)
1,200  3,466 
Sea Ltd., ADR(1)
177  10,974 
Sheng Siong Group Ltd. 5,000  5,795 
SIA Engineering Co. Ltd.(1)
800  1,417 
Singapore Exchange Ltd. 2,800  19,001 
Singapore Post Ltd. 15,900  6,591 
Singapore Technologies Engineering Ltd. 200  533 
Singapore Telecommunications Ltd. 16,300  30,601 
Stamford Land Corp. Ltd. 2,000  551 
StarHub Ltd. 2,100  1,846 
United Overseas Bank Ltd. 3,700  72,148 
UOL Group Ltd. 3,300  16,328 
Venture Corp. Ltd. 700  9,145 
Yangzijiang Financial Holding Ltd.(1)
9,200  2,461 
Yanlord Land Group Ltd. 6,900  5,078 
Yoma Strategic Holdings Ltd.(1)
14,200  1,318 
384,590 
Spain — 2.0%
Acciona SA 24  4,701 
Aena SME SA(1)
290  35,618 
Almirall SA 578  5,214 
Amadeus IT Group SA(1)
543  28,665 
Amper SA(1)
7,550  1,339 
Applus Services SA 301  2,014 
Atresmedia Corp. de Medios de Comunicacion SA 885  2,424 
Banco Bilbao Vizcaya Argentaria SA, ADR 7,857  34,885 
Banco de Sabadell SA 29,871  20,543 
Banco Santander SA, ADR 23,059  55,572 
Bankinter SA 2,815  14,426 
CaixaBank SA 7,777  23,483 
Cellnex Telecom SA 248  9,658 
CIE Automotive SA 92  2,256 
Construcciones y Auxiliar de Ferrocarriles SA 96  2,778 
Deoleo SA(1)(2)
1,100  315 
88

Avantis Responsible International Equity ETF
Shares Value
eDreams ODIGEO SA(1)
92  $ 498 
Ence Energia y Celulosa SA 1,095  3,876 
Ercros SA 520  1,597 
Ferrovial SA (Madrid) 259  6,494 
Fluidra SA 359  5,742 
Gestamp Automocion SA 1,306  4,782 
Global Dominion Access SA 352  1,363 
Grifols SA(1)
93  1,124 
Grupo Catalana Occidente SA 180  5,293 
Iberdrola SA 10,515  109,479 
Indra Sistemas SA 817  6,423 
Industria de Diseno Textil SA 1,436  31,005 
Laboratorios Farmaceuticos Rovi SA 93  4,565 
Mapfre SA 3,489  5,788 
Mediaset Espana Comunicacion SA(1)
382  1,063 
Melia Hotels International SA(1)
670  4,063 
Neinor Homes SA 281  2,883 
Obrascon Huarte Lain SA(1)
2,692  1,541 
Pharma Mar SA 117  6,815 
Prosegur Cash SA 1,672  1,144 
Prosegur Cia de Seguridad SA 102  188 
Red Electrica Corp. SA 930  17,003 
Sacyr SA 3,705  8,288 
Siemens Gamesa Renewable Energy SA(1)
78  1,405 
Solaria Energia y Medio Ambiente SA(1)
367  7,793 
Telefonica SA, ADR(2)
11,039  45,039 
Viscofan SA 277  15,585 
544,730 
Sweden — 3.4%
AAK AB 443  6,786 
AcadeMedia AB 407  1,783 
AddTech AB, B Shares 627  8,796 
AFRY AB 12  158 
Alfa Laval AB 479  12,774 
Alimak Group AB 49  360 
Alleima AB(1)
208  836 
Ambea AB 260  1,054 
Arise AB(1)
253  1,807 
Arjo AB, B Shares 423  1,900 
Assa Abloy AB, Class B 573  11,605 
Atlas Copco AB, A Shares 3,510  35,630 
Atlas Copco AB, B Shares 2,040  18,576 
Atrium Ljungberg AB, B Shares 149  2,160 
Attendo AB(1)
290  635 
Avanza Bank Holding AB 505  8,095 
Axfood AB 376  11,334 
BE Group AB 48  458 
Beijer Ref AB 317  4,104 
Bilia AB, A Shares 672  8,360 
BillerudKorsnas AB 760  9,882 
BioGaia AB, B Shares 308  2,486 
89

Avantis Responsible International Equity ETF
Shares Value
Biotage AB 200  $ 3,364 
Boliden AB 975  31,222 
Bonava AB, B Shares 257  920 
Boozt AB(1)(2)
97  569 
Bravida Holding AB 422  3,819 
Bufab AB 6  139 
Bure Equity AB 223  4,405 
Byggmax Group AB 390  1,602 
Castellum AB 623  8,743 
Catena AB 91  3,741 
Catena Media PLC(1)
421  1,265 
Cibus Nordic Real Estate AB 147  2,341 
Cint Group AB(1)
223  1,330 
Clas Ohlson AB, B Shares 418  3,770 
Cloetta AB, B Shares 1,761  3,079 
Coor Service Management Holding AB 416  3,221 
Corem Property Group AB, B Shares 1,547  1,804 
Dios Fastigheter AB 318  2,354 
Dometic Group AB 18  102 
Electrolux AB, B Shares 870  11,001 
Electrolux Professional AB, B Shares 1,048  5,206 
Elekta AB, B Shares(2)
1,259  7,217 
Embracer Group AB(1)
662  4,107 
Epiroc AB, A Shares 852  13,036 
Epiroc AB, B Shares 503  6,848 
EQT AB 279  6,249 
Essity AB, B Shares 584  12,955 
Fabege AB 560  4,950 
Fastighets AB Balder, B Shares(1)
933  5,152 
Fortnox AB 1,770  7,833 
G5 Entertainment AB(2)
38  627 
GARO AB 87  946 
Getinge AB, B Shares 362  6,705 
Granges AB 353  2,736 
H & M Hennes & Mauritz AB, B Shares 2,089  21,695 
Hanza AB 120  536 
Hemnet Group AB 119  1,578 
Hexagon AB, B Shares 1,260  12,876 
Hexatronic Group AB 287  2,795 
Hexpol AB 646  5,735 
HMS Networks AB 91  3,307 
Hoist Finance AB(1)
549  1,662 
Holmen AB, B Shares 201  8,624 
Hufvudstaden AB, A Shares 458  5,456 
Husqvarna AB, B Shares 720  4,844 
Industrivarden AB, A Shares 232  5,142 
Indutrade AB 583  10,795 
Instalco AB 378  1,887 
Intrum AB 120  2,155 
Investment AB Latour, B Shares 78  1,537 
Inwido AB 109  1,066 
90

Avantis Responsible International Equity ETF
Shares Value
JM AB 237  $ 4,075 
Karnov Group AB(1)
310  1,664 
Karo Pharma AB(1)
93  523 
Lindab International AB 308  4,412 
Loomis AB 538  14,533 
MEKO AB 178  1,626 
Millicom International Cellular SA, SDR(1)
421  6,024 
MIPS AB 65  2,929 
Modern Times Group MTG AB, B Shares(1)
508  4,448 
Mycronic AB 183  2,170 
NCC AB, B Shares 132  1,242 
New Wave Group AB, B Shares 291  4,681 
Nibe Industrier AB, B Shares 702  6,574 
Nobia AB 824  2,122 
Nordea Bank Abp 4,537  42,066 
Nordnet AB publ 534  6,393 
Note AB(1)
37  616 
Nyfosa AB 503  4,226 
Oncopeptides AB(1)
120  334 
OX2 AB(1)
401  3,576 
Pandox AB(1)
431  5,328 
Paradox Interactive AB 252  3,962 
Platzer Fastigheter Holding AB, B Shares 157  1,217 
Resurs Holding AB 916  1,952 
Rvrc Holding AB 117  283 
Saab AB, B Shares 373  12,461 
Samhallsbyggnadsbolaget i Norden AB 1,946  3,124 
Samhallsbyggnadsbolaget i Norden AB, D Shares 284  559 
Sandvik AB 1,041  16,230 
Scandic Hotels Group AB(1)
760  2,699 
Sectra AB, B Shares(1)
565  8,414 
Securitas AB, B Shares 479  4,194 
Sinch AB(1)(2)
427  826 
Skandinaviska Enskilda Banken AB, A Shares 2,514  25,061 
Skanska AB, B Shares 1,383  20,431 
SKF AB, B Shares 662  9,925 
SkiStar AB 381  4,903 
SolTech Energy Sweden AB(1)
603  1,010 
Spotify Technology SA(1)
27  2,920 
Stillfront Group AB(1)
643  1,368 
Svenska Cellulosa AB SCA, B Shares 1,147  17,186 
Svenska Handelsbanken AB, A Shares 3,382  27,699 
Sweco AB, B Shares 272  2,564 
Swedbank AB, A Shares 2,472  31,950 
SwedenCare AB 35  205 
Tele2 AB, B Shares 1,070  11,395 
Telefonaktiebolaget LM Ericsson, ADR 4,238  31,488 
Telia Co. AB 6,562  23,096 
Thule Group AB 87  2,122 
Tobii AB(1)
162  363 
Tobii Dynavox AB(1)
233  495 
91

Avantis Responsible International Equity ETF
Shares Value
Trelleborg AB, B Shares 1,132  $ 23,523 
Truecaller AB, B Shares(1)
407  2,140 
Viaplay Group AB, B Shares(1)
58  1,476 
Vitec Software Group AB, B Shares 106  3,954 
Vitrolife AB 22  525 
Volvo AB, A Shares 318  5,292 
Volvo AB, B Shares 2,410  38,175 
Volvo Car AB, Class B(1)(2)
1,901  11,580 
Wallenstam AB, B Shares 858  3,850 
Wihlborgs Fastigheter AB 1,015  7,271 
902,077 
Switzerland — 8.4%
ABB Ltd., ADR(2)
793  21,863 
Adecco Group AG 607  19,242 
Alcon, Inc. 615  40,493 
Allreal Holding AG 48  7,525 
ALSO Holding AG(1)
22  3,657 
ams-OSRAM AG(1)
499  3,651 
Arbonia AG 171  2,241 
Ascom Holding AG 63  406 
Autoneum Holding AG 12  1,345 
Baloise Holding AG 227  32,760 
Banque Cantonale Vaudoise 112  10,628 
Barry Callebaut AG 10  20,461 
Basilea Pharmaceutica AG(1)
14  556 
Belimo Holding AG 7  2,655 
Bossard Holding AG, Class A 10  1,991 
Bucher Industries AG 28  9,976 
Calida Holding AG 33  1,440 
Cembra Money Bank AG 158  10,656 
Chocoladefabriken Lindt & Spruengli AG, Participation Ceritificate 1  10,576 
Cie Financiere Richemont SA, Class A 531  59,381 
Clariant AG(1)
677  12,500 
Comet Holding AG 20  3,478 
Credit Suisse Group AG, ADR(2)
5,455  28,148 
DKSH Holding AG 239  17,782 
dormakaba Holding AG 11  4,613 
Flughafen Zurich AG(1)
59  9,935 
Forbo Holding AG 7  8,735 
Galenica AG 33  2,321 
Geberit AG 28  12,937 
Georg Fischer AG 388  21,023 
Givaudan SA 3  9,572 
Helvetia Holding AG 161  17,746 
Huber + Suhner AG 61  5,081 
Idorsia Ltd.(1)
117  1,831 
Implenia AG(1)
20  591 
Inficon Holding AG 10  6,971 
Intershop Holding AG 3  1,955 
Julius Baer Group Ltd.(1)
791  38,221 
Kardex Holding AG 7  1,227 
92

Avantis Responsible International Equity ETF
Shares Value
Komax Holding AG 11  $ 2,866 
Kuehne + Nagel International AG 171  39,520 
LEM Holding SA 1  1,647 
Leonteq AG 70  3,975 
Logitech International SA 741  36,869 
Lonza Group AG 28  14,933 
Mobilezone Holding AG 407  6,738 
Mobimo Holding AG 27  6,628 
Nestle SA 1,557  182,205 
Novartis AG, ADR 4,210  338,989 
OC Oerlikon Corp. AG 650  4,748 
Partners Group Holding AG 53  51,158 
Peach Property Group AG(1)
42  1,306 
PolyPeptide Group AG(1)
6  221 
PSP Swiss Property AG 162  18,328 
Roche Holding AG 1,131  364,455 
Roche Holding AG, Bearer Shares 42  16,042 
Schindler Holding AG 76  12,836 
Schindler Holding AG, Bearer Participation Certificate 137  23,866 
Schweiter Technologies AG, Bearer Shares 2  2,098 
SGS SA 12  26,426 
Siegfried Holding AG(1)
11  8,778 
SIG Group AG(1)
167  3,916 
Sika AG 41  9,225 
Softwareone Holding AG(1)
200  2,629 
Sonova Holding AG 47  12,383 
St Galler Kantonalbank AG 14  6,584 
Stadler Rail AG 313  9,553 
Straumann Holding AG 234  25,642 
Sulzer AG 112  6,684 
Swatch Group AG 179  8,141 
Swatch Group AG, Bearer Shares 97  23,522 
Swiss Life Holding AG 117  61,153 
Swiss Prime Site AG 236  20,297 
Swiss Re AG 553  42,999 
Swisscom AG 118  61,010 
Swissquote Group Holding SA 49  5,436 
Tecan Group AG 7  2,576 
Temenos AG 112  9,172 
u-blox Holding AG(1)
57  7,900 
UBS Group AG(1)
6,657  105,513 
VAT Group AG(1)
37  8,847 
Vontobel Holding AG 168  10,336 
VZ Holding AG 49  3,920 
Ypsomed Holding AG 7  1,070 
Zehnder Group AG 57  3,367 
Zurich Insurance Group AG 402  178,448 
2,261,125 
United Kingdom — 13.8%
3i Group PLC 3,810  53,631 
abrdn PLC 5,958  10,125 
93

Avantis Responsible International Equity ETF
Shares Value
Admiral Group PLC 669  $ 16,457 
Advanced Medical Solutions Group PLC 280  979 
AG Barr PLC 321  1,879 
Airtel Africa PLC 3,400  5,220 
AJ Bell PLC 1,046  3,568 
Alliance Pharma PLC 1,623  1,789 
Alpha FX Group PLC 201  4,246 
Anglo American PLC 3,368  108,229 
Anglo-Eastern Plantations PLC 241  2,513 
Antofagasta PLC 1,866  23,743 
Ashmore Group PLC 1,876  4,420 
Ashtead Group PLC 1,031  50,651 
ASOS PLC(1)
141  1,134 
Associated British Foods PLC 1,016  17,944 
Aston Martin Lagonda Global Holdings PLC(1)(2)
155  800 
AstraZeneca PLC, ADR 2,472  154,203 
Auto Trader Group PLC 4,307  32,521 
Avast PLC 97  796 
AVEVA Group PLC 20  649 
Aviva PLC 7,863  38,145 
B&M European Value Retail SA 4,261  18,272 
BAE Systems PLC 5,228  47,084 
Balfour Beatty PLC 3,865  14,139 
Bank of Georgia Group PLC 324  7,524 
Barclays PLC, ADR 8,106  63,146 
Barratt Developments PLC 3,026  14,981 
Beazley PLC 3,221  21,734 
Bellway PLC 302  7,141 
Berkeley Group Holdings PLC 539  22,817 
Biffa PLC 2,291  10,694 
Bodycote PLC 393  2,506 
boohoo Group PLC(1)
987  478 
Brewin Dolphin Holdings PLC 2,440  14,509 
Britvic PLC 1,045  9,497 
BT Group PLC 40,343  70,572 
Bunzl PLC 522  17,312 
Burberry Group PLC 1,463  29,595 
Burford Capital Ltd. 1,059  9,906 
Bytes Technology Group PLC 1,538  7,422 
Capital Ltd. 1,380  1,331 
Carnival PLC, ADR(1)
100  847 
Centrica PLC(1)
30,580  26,821 
Chesnara PLC 818  2,868 
Clarkson PLC 200  6,990 
Close Brothers Group PLC 1,126  13,321 
CMC Markets PLC 1,544  4,118 
Coats Group PLC 16,171  11,271 
Coca-Cola HBC AG(1)
1,046  23,869 
Compass Group PLC 1,389  29,879 
Computacenter PLC 458  13,120 
ConvaTec Group PLC 3,992  10,072 
94

Avantis Responsible International Equity ETF
Shares Value
Countryside Partnerships PLC(1)
757  $ 2,120 
Cranswick PLC 276  9,876 
Crest Nicholson Holdings PLC 1,641  4,460 
Croda International PLC 139  10,834 
De La Rue PLC(1)
600  599 
Dechra Pharmaceuticals PLC 29  1,173 
Diageo PLC, ADR 640  112,890 
Direct Line Insurance Group PLC 7,310  17,411 
Domino's Pizza Group PLC 660  1,806 
dotdigital group PLC 978  987 
Dr. Martens PLC 3,538  9,645 
Drax Group PLC 3,223  23,775 
DS Smith PLC 4,283  13,273 
Dunelm Group PLC 657  5,244 
Elementis PLC(1)
671  861 
EMIS Group PLC 414  9,056 
Ergomed PLC(1)
189  2,449 
Euromoney Institutional Investor PLC 42  708 
Experian PLC 792  24,034 
FD Technologies PLC(1)
6  111 
Ferguson PLC 439  50,840 
Firstgroup PLC 8,864  11,806 
Forterra PLC 2,430  7,456 
Foxtons Group PLC 1,387  599 
Frasers Group PLC(1)
1,310  12,198 
Frontier Developments PLC(1)
63  1,068 
Funding Circle Holdings PLC(1)
720  272 
Games Workshop Group PLC 210  17,292 
Gamma Communications PLC 200  2,502 
Genus PLC 21  612 
Georgia Capital PLC(1)
228  1,809 
Go-Ahead Group PLC(1)
539  9,669 
Golar LNG Ltd.(1)
609  16,607 
Grafton Group PLC 1,630  13,682 
Grainger PLC 2,840  8,843 
Greencore Group PLC(1)
320  316 
Greggs PLC 519  11,094 
GSK PLC, ADR 4,571  148,466 
Gym Group PLC(1)
494  828 
Haleon PLC, ADR(1)
3,909  23,376 
Halfords Group PLC 1,593  2,408 
Halma PLC 67  1,612 
Hargreaves Lansdown PLC 1,210  11,455 
Hays PLC 3,010  4,081 
Helical PLC 630  2,850 
Helios Towers PLC(1)
3,908  5,600 
Hikma Pharmaceuticals PLC 777  11,842 
Hill & Smith Holdings PLC 654  7,901 
Hiscox Ltd. 1,385  14,431 
Hollywood Bowl Group PLC 378  755 
HomeServe PLC 658  9,058 
95

Avantis Responsible International Equity ETF
Shares Value
Howden Joinery Group PLC 2,923  $ 19,326 
HSBC Holdings PLC, ADR(2)
4,877  150,358 
Hurricane Energy PLC(1)
22,448  1,915 
Ibstock PLC 2,984  6,559 
IG Group Holdings PLC 2,352  22,320 
IGas Energy PLC(1)
522  492 
IMI PLC 467  6,211 
Inchcape PLC 1,563  13,725 
Informa PLC 393  2,486 
InterContinental Hotels Group PLC 190  10,314 
Intermediate Capital Group PLC 1,396  22,068 
Intertek Group PLC 473  21,710 
Investec PLC 4,115  19,780 
IOG PLC(1)
3,522  1,166 
IP Group PLC 5,307  4,307 
ITV PLC 5,925  4,409 
IWG PLC(1)
3,151  5,873 
J D Wetherspoon PLC(1)
49  274 
J Sainsbury PLC 6,663  15,727 
JD Sports Fashion PLC 7,883  10,311 
Johnson Service Group PLC(1)
1,032  1,153 
Jubilee Metals Group PLC(1)
3,462  475 
Jupiter Fund Management PLC 1,478  1,667 
Just Group PLC 7,161  5,980 
Kainos Group PLC 383  6,043 
Kingfisher PLC 10,522  28,265 
Lancashire Holdings Ltd. 667  3,827 
Learning Technologies Group PLC 717  950 
Legal & General Group PLC 17,509  51,285 
Liberty Global PLC, Class A(1)
479  9,676 
Liberty Global PLC, Class C(1)
873  18,604 
Liontrust Asset Management PLC 297  3,154 
Lloyds Banking Group PLC, ADR 45,450  90,900 
London Stock Exchange Group PLC 247  23,169 
Lookers PLC 3,899  3,692 
Luxfer Holdings PLC 29  477 
M&G PLC 10,678  24,233 
Man Group PLC 8,503  24,028 
Marks & Spencer Group PLC(1)
6,407  9,054 
Marshalls PLC 532  2,063 
Marston's PLC(1)
5,261  2,218 
ME Group International PLC 2,233  2,272 
Mediclinic International PLC 2,762  16,050 
Metro Bank PLC(1)
442  415 
Micro Focus International PLC, ADR 200  1,206 
Mitchells & Butlers PLC(1)
2,258  4,038 
Mitie Group PLC 16,164  13,575 
Mondi PLC 1,402  23,800 
Moneysupermarket.com Group PLC 1,813  4,144 
Morgan Sindall Group PLC 117  2,336 
NatWest Group PLC, ADR 7,413  40,993 
96

Avantis Responsible International Equity ETF
Shares Value
Next PLC 609  $ 41,011 
Ninety One PLC 3,502  8,023 
Ocado Group PLC(1)
62  521 
OSB Group PLC 2,091  13,332 
Pagegroup PLC 1,989  9,990 
Paragon Banking Group PLC 1,800  11,188 
Pearson PLC, ADR 2,666  26,767 
Pendragon PLC(1)
4,371  1,134 
Pennon Group PLC 1,859  20,128 
Persimmon PLC 1,331  22,775 
Pets at Home Group PLC 133  489 
Phoenix Group Holdings PLC 1,870  13,061 
Plus500 Ltd. 952  18,760 
Premier Foods PLC 2,613  3,270 
Provident Financial PLC 1,917  3,836 
Prudential PLC, ADR 921  19,442 
QinetiQ Group PLC 2,739  11,067 
Quilter PLC 4,762  5,810 
Rathbones Group PLC 261  5,456 
Reach PLC 1,382  1,188 
Reckitt Benckiser Group PLC 1,054  81,328 
Redde Northgate PLC 2,359  9,363 
Redrow PLC 913  5,363 
RELX PLC, ADR 3,510  91,892 
Renewi PLC(1)
258  2,323 
Renishaw PLC 60  2,566 
Rentokil Initial PLC 1,991  12,025 
Restaurant Group PLC(1)
2,143  1,017 
Restore PLC 457  2,321 
Rhi Magnesita NV 13  272 
Rightmove PLC 4,477  31,469 
Rolls-Royce Holdings PLC(1)
4,718  4,205 
Royal Mail PLC 3,383  10,794 
RS GROUP PLC 1,694  21,310 
Sage Group PLC 2,748  22,777 
Savannah Energy PLC(1)
639  245 
Savills PLC 851  9,346 
Schroders PLC 315  9,798 
Senior PLC(1)
458  691 
Serco Group PLC 8,516  17,273 
Severn Trent PLC 461  14,891 
SIG PLC(1)
929  361 
Sirius Real Estate Ltd. 2,397  2,261 
Smart Metering Systems PLC 472  4,981 
Smith & Nephew PLC, ADR 910  21,694 
Smiths Group PLC 393  6,789 
Softcat PLC 779  11,682 
Spectris PLC 171  5,529 
Speedy Hire PLC 3,370  1,600 
Spirax-Sarco Engineering PLC 118  14,405 
Spire Healthcare Group PLC(1)
1,314  3,540 
97

Avantis Responsible International Equity ETF
Shares Value
Spirent Communications PLC 3,353  $ 10,030 
SSP Group PLC(1)
2,200  5,391 
St. James's Place PLC 2,459  31,475 
Standard Chartered PLC (London) 8,033  55,638 
SThree PLC 559  2,282 
Strix Group PLC(2)
1,058  1,819 
Superdry PLC(1)
387  563 
Synthomer PLC 1,499  3,422 
Tate & Lyle PLC 3,629  32,136 
Taylor Wimpey PLC 9,328  11,702 
TBC Bank Group PLC 349  7,185 
Team17 Group PLC(1)
158  731 
Ted Baker PLC(1)
591  747 
Telecom Plus PLC 533  12,041 
TI Fluid Systems PLC 642  1,088 
TP ICAP Group PLC 1,230  2,194 
Travis Perkins PLC 690  6,786 
Tremor International Ltd.(1)
329  1,256 
TUI AG(1)
1,618  2,481 
Tyman PLC 251  670 
Unilever PLC, ADR 2,823  128,136 
United Utilities Group PLC 4,104  50,300 
Vertu Motors PLC 4,229  2,382 
Vesuvius PLC 149  599 
Virgin Money UK PLC 9,798  16,942 
Vistry Group PLC 1,147  10,272 
Vodafone Group PLC, ADR 6,967  93,497 
Watkin Jones PLC 617  1,356 
Weir Group PLC 278  4,682 
WH Smith PLC(1)
388  6,432 
Whitbread PLC 739  21,419 
Wickes Group PLC 2,665  3,695 
Wincanton PLC 880  3,453 
WPP PLC, ADR(2)
380  16,306 
Yellow Cake PLC(1)
1,955  9,532 
YouGov PLC 233  2,703 
3,711,893 
United States†
ADTRAN Holdings, Inc. 52  1,202 
GXO Logistics, Inc.(1)
17  754 
1,956 
TOTAL COMMON STOCKS
(Cost $28,455,889)
 26,801,925 
RIGHTS†
Germany†
7C Solarparken AG(1)
(Cost $—)
 288  5 
WARRANTS†
Australia†
Magellan Financial Group Ltd.(1)(2)
(Cost $—)
 4  2 
98

Avantis Responsible International Equity ETF
Shares Value
SHORT-TERM INVESTMENTS — 0.9%
Money Market Funds — 0.9%
State Street Institutional U.S. Government Money Market Fund, Premier Class 24,800  $ 24,800 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
215,191  215,191 
TOTAL SHORT-TERM INVESTMENTS
(Cost $239,991)
 239,991 
TOTAL INVESTMENT SECURITIES — 100.5%
(Cost $28,695,880)
 27,041,923 
OTHER ASSETS AND LIABILITIES — (0.5)%
 (143,482)
TOTAL NET ASSETS — 100.0%
 $ 26,898,441 

MARKET SECTOR DIVERSIFICATION
(as a % of net assets)
Financials 26.5%
Industrials 16.5%
Consumer Discretionary 12.2%
Health Care 9.3%
Materials 8.3%
Information Technology 7.5%
Consumer Staples 7.4%
Communication Services 6.1%
Real Estate 3.0%
Utilities 2.5%
Energy 0.3%
Short-Term Investments 0.9%
Other Assets and Liabilities (0.5)%

NOTES TO SCHEDULE OF INVESTMENTS
ADR - American Depositary Receipt
CVA - Certificaten Van Aandelen
SDR - Swedish Depositary Receipt
†Category is less than 0.05% of total net assets.
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $340,081. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $356,532, which includes securities collateral of $141,341.


See Notes to Financial Statements.
99

Statements of Assets and Liabilities
AUGUST 31, 2022
Avantis Responsible Emerging Markets Equity ETF Avantis Responsible International Equity ETF
Assets
Investment securities, at value (cost of $13,803,755 and $28,480,689, respectively) — including $— and $340,081, respectively of securities on loan $ 13,008,601  $ 26,826,732 
Investment made with cash collateral received for securities on loan, at value (cost of $— and $215,191, respectively) —  215,191 
Total investment securities, at value (cost of $13,803,755 and $28,695,880, respectively) 13,008,601  27,041,923 
Cash —  108 
Foreign currency holdings, at value (cost of $4,689 and $2,137, respectively) 4,677  2,134 
Receivable for investments sold 159  — 
Dividends and interest receivable 25,049  74,267 
Securities lending receivable —  356 
13,038,486  27,118,788 
Liabilities
Payable for collateral received for securities on loan —  215,191 
Payable for investments purchased 413  — 
Accrued management fees 3,687  5,156 
Accrued foreign taxes 20,298  — 
24,398  220,347 
Net Assets $ 13,014,088  $ 26,898,441 
Shares outstanding (unlimited number of shares authorized) 300,000  600,000 
Net Asset Value Per Share $ 43.38  $ 44.83 
Net Assets Consist of:
Capital paid in $ 13,743,914  $ 28,474,658 
Distributable earnings (729,826) (1,576,217)
$ 13,014,088  $ 26,898,441 


See Notes to Financial Statements.

100

Statements of Operations
PERIOD ENDED AUGUST 31, 2022
Avantis Responsible Emerging Markets Equity ETF(1)
Avantis Responsible International Equity ETF(2)
Investment Income (Loss)
Income:
Dividends (net of foreign taxes withheld of $27,186 and $20,514, respectively) $ 171,273  $ 216,072 
Interest 371  788 
Securities lending, net —  356 
171,644  217,216 
Expenses:
Management fees 10,852  15,419 
Net investment income (loss) 160,792  201,797 
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment transactions (net of foreign tax expenses paid (refunded) of $17 and $—, respectively) (34,906) (13,316)
Foreign currency translation transactions (11,996) (3,454)
(46,902) (16,770)
Change in net unrealized appreciation (depreciation) on:
Investments (includes (increase) decrease in accrued foreign taxes of $(20,298) and $—, respectively) (815,452) (1,653,957)
Translation of assets and liabilities in foreign currencies (184) (1,132)
(815,636) (1,655,089)
Net realized and unrealized gain (loss) (862,538) (1,671,859)
Net Increase (Decrease) in Net Assets Resulting from Operations $ (701,746) $ (1,470,062)
(1)March 28, 2022 (fund inception) through August 31, 2022.
(2)March 15, 2022 (fund inception) through August 31, 2022.


See Notes to Financial Statements.

101

Statements of Changes in Net Assets
PERIOD ENDED AUGUST 31, 2022
Avantis Responsible Emerging Markets Equity ETF(1)
Avantis Responsible International Equity ETF(2)
Increase (Decrease) in Net Assets
Operations
Net investment income (loss) $ 160,792  $ 201,797 
Net realized gain (loss) (46,902) (16,770)
Change in net unrealized appreciation (depreciation) (815,636) (1,655,089)
Net increase (decrease) in net assets resulting from operations (701,746) (1,470,062)
Distributions to Shareholders
From earnings (28,080) (106,155)
Capital Share Transactions
Proceeds from shares sold 13,723,663  28,455,437 
Other capital 20,251  19,221 
Net increase (decrease) in net assets from capital share transactions 13,743,914  28,474,658 
Net increase (decrease) in net assets 13,014,088  26,898,441 
Net Assets
End of period $ 13,014,088  $ 26,898,441 
Transactions in Shares of the Funds
Sold 300,000  600,000 
(1)March 28, 2022 (fund inception) through August 31, 2022.
(2)March 15, 2022 (fund inception) through August 31, 2022.


See Notes to Financial Statements.

102

Notes to Financial Statements

AUGUST 31, 2022

1. Organization

American Century ETF Trust (the trust) was registered as a Delaware statutory trust in 2017 and is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. Avantis Responsible Emerging Markets Equity ETF and Avantis Responsible International Equity ETF (collectively, the funds) are two funds in a series issued by the trust. Each of the funds’ investment objective is to seek long-term capital appreciation. Shares of the funds are listed for trading on the NYSE Arca, Inc. Avantis Responsible Emerging Markets Equity ETF incepted on March 28, 2022. Avantis Responsible International Equity ETF incepted on March 15, 2022.

2. Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by the funds in preparation of their financial statements. Each fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

Investment Valuations — The funds determine the fair value of their investments and compute their net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The Board of Trustees has adopted valuation policies and procedures to guide the investment advisor in the funds' investment valuation process and to provide methodologies for the oversight of the funds' pricing function.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price. Equity securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.

Open-end management investment companies are valued at the reported NAV per share.

If the funds determine that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. In its determination of fair value, the funds may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the funds to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.

The funds monitor for significant events occurring after the close of an investment’s primary exchange but before each fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The funds also monitor for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that the Board of Trustees, or its delegate, deems appropriate. The funds may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
103


Security Transactions — Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes. Certain countries impose taxes on realized gains on the sale of securities registered in their country. The funds record the foreign tax expense, if any, on an accrual basis. The foreign tax expense on realized gains and unrealized appreciation reduces the net realized gain (loss) on investment transactions and net unrealized appreciation (depreciation) on investments, respectively.

Investment Income — Dividend income less foreign taxes withheld, if any, is recorded as of the ex-dividend date. Distributions received on securities that represent a return of capital or long-term capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The funds may estimate the components of distributions received that may be considered nontaxable distributions or long-term capital gain distributions for income tax purposes. Interest income is recorded on the accrual basis and includes accretion of discounts and amortization of premiums. Securities lending income is net of fees and rebates earned by the lending agent for its services.

Foreign Currency Translations — All assets and liabilities initially expressed in foreign currencies are translated into U.S. dollars at prevailing exchange rates at period end. The funds may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

Segregated Assets — In accordance with the 1940 Act, the funds segregate assets on their books and records to cover certain types of investment securities and other financial instruments. American Century Investment Management, Inc. (ACIM) (the investment advisor) monitors, on a daily basis, the securities segregated to ensure the funds designate a sufficient amount of liquid assets, marked-to-market daily. The funds may also receive assets or be required to pledge assets at the custodian bank or with a broker for collateral requirements.

Income Tax Status — It is each fund’s policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. The funds file U.S. federal, state, local and non-U.S. tax returns as applicable. The funds' tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

Distributions to Shareholders — Distributions from net investment income, if any, are generally declared and paid semiannually. Distributions from net realized gains, if any, are generally declared and paid annually.

Indemnifications — Under the trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the funds. In addition, in the normal course of business, the funds enter into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

104

Securities Lending — Securities are lent to qualified financial institutions and brokers. State Street Bank & Trust Co. serves as securities lending agent to the funds pursuant to a Securities Lending Agreement. The lending of securities exposes the funds to risks such as: the borrowers may fail to return the loaned securities, the borrowers may not be able to provide additional collateral, the funds may experience delays in recovery of the loaned securities or delays in access to collateral, or the funds may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge collateral in the form of cash and/or securities. The lending agent has agreed to indemnify the funds in the case of default of any securities borrowed. Cash collateral received is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, a money market mutual fund registered under the 1940 Act. The loans may also be secured by U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. By lending securities, the funds seek to increase their net investment income through the receipt of interest and fees. Such income is reflected separately within the Statements of Operations. The value of loaned securities and related collateral outstanding at period end, if any, are shown on a gross basis within the Schedules of Investments and Statements of Assets and Liabilities.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged, and the remaining contractual maturity of those transactions as of August 31, 2022.
Remaining Contractual Maturity of Agreements
Fund / Securities Lending Transactions(1)
 Overnight and
Continuous		 <30 days Between
30 & 90 days		 >90 days Total
Avantis Responsible International Equity ETF
Common Stocks $ 215,190  —  —  —  $ 215,190 
Warrants 1  —  —  —  1 
Total Borrowings $ 215,191  —  —  —  $ 215,191 
Gross amount of recognized liabilities for securities lending transactions $ 215,191 
(1)Amount represents the payable for cash collateral received for securities on loan. This will generally be in the Overnight and Continuous column as the securities are typically callable on demand.

3. Fees and Transactions with Related Parties

Certain officers and trustees of the trust are also officers and/or directors of American Century Companies, Inc. (ACC). The trust's investment advisor, ACIM, and the trust’s administrator, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC.

Management Fees — The trust has entered into a management agreement with ACIM, under which ACIM provides the funds with investment advisory and management services in exchange for a single, unified management fee (the fee). The agreement provides that ACIM will pay all expenses of managing and operating the funds, except brokerage and other transaction fees and expenses relating to the acquisition and disposition of portfolio securities, acquired fund fees and expenses, interest, taxes, litigation expenses and extraordinary expenses. The fee is computed and accrued daily based on the daily net assets of each fund and paid monthly in arrears.

The annual management fee for each fund is as follows:
Annual Management Fee
Avantis Responsible Emerging Markets Equity ETF
 0.33%
Avantis Responsible International Equity ETF
 0.23%

Interfund Transactions — The funds may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Trustees. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. There were no interfund transactions during the period.

105

4. Investment Transactions

Purchases and sales of investment securities, excluding short-term investments and in kind transactions, for the period ended August 31, 2022 were as follows:
Avantis Responsible Emerging Markets Equity ETF(1)
Avantis Responsible International Equity ETF(2)
Purchases $ 13,128,623  $ 13,290,423 
Sales $ 165,141  $ 427,042 
(1)March 28, 2022 (fund inception) through August 31, 2022.
(2)March 15, 2022 (fund inception) through August 31, 2022.

Securities received or delivered in kind through subscriptions and redemptions and in kind net realized gain (loss) for the period ended August 31, 2022 were as follows:
In kind
Subscriptions		 In kind
Redemptions
In kind
Net Realized
Gain/(Loss)*
Avantis Responsible Emerging Markets Equity ETF(1)
 $ 867,219  —  — 
Avantis Responsible International Equity ETF(2)
 $ 15,617,616  —  — 
*Net realized gain (loss) on in kind transactions are not considered taxable for federal income tax purposes.
(1)March 28, 2022 (fund inception) through August 31, 2022.
(2)March 15, 2022 (fund inception) through August 31, 2022.

5. Capital Share Transactions

Each fund’s shares may only be bought and sold in a secondary market through a broker-dealer at a market price. Because ETF shares trade at market prices rather than NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). Each fund issues and redeems shares at their NAV only in aggregations of a specified number of shares (a creation unit) generally in exchange for a designated portfolio of securities and/or cash (including any portion of such securities for which cash may be substituted). Authorized participants may be required to pay an additional variable charge to cover certain brokerage, tax, foreign exchange, execution, market impact and other costs and expenses related to the execution of trades resulting from creation unit transactions. Such variable charges, if any, are included in other capital within the Statements of Changes in Net Assets.

6. Fair Value Measurements

The funds’ investment valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the funds. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

106

The following is a summary of the level classifications as of period end. The Schedules of Investments provide additional information on the funds’ portfolio holdings.
Avantis Responsible Emerging Markets Equity ETF
Level 1 Level 2 Level 3
Assets
Investment Securities
Common Stocks
Brazil $ 265,316  $ 540,414  — 
Chile 26,311  65,113  — 
China 1,055,056  2,720,194  — 
Colombia 8,674  13,791  — 
India 229,228  2,022,333  — 
Indonesia 31,183  274,438  — 
Mexico 110,148  182,430  — 
Peru 30,412  —  — 
Philippines 8,724  108,649  — 
South Africa 38,734  473,256  — 
South Korea 108,041  1,636,693  — 
Taiwan 450,637  1,774,130  — 
Turkey 2,210  69,426  — 
Other Countries —  754,484  — 
Warrants —  8  — 
Rights —  5  — 
Short-Term Investments 8,563  —  — 
$ 2,373,237  $ 10,635,364  — 

107

Avantis Responsible International Equity ETF
Level 1 Level 2 Level 3
Assets
Investment Securities
Common Stocks
Australia $ 30,462  $ 1,989,219  — 
Belgium 37,555  209,242  — 
Canada 6,560  2,958,140  — 
Denmark 295,859  302,765  — 
Finland 31,285  229,612  — 
France 279,699  2,157,327  — 
Germany 88,635  1,622,779  — 
Hong Kong 1,375  698,180  — 
Israel 54,117  235,197  — 
Japan 540,508  5,135,337  — 
Netherlands 340,364  575,775  — 
Singapore 15,469  369,121  — 
Spain 135,496  409,234  — 
Sweden 34,408  867,669  — 
Switzerland 494,513  1,766,612  — 
United Kingdom 1,229,483  2,482,410  — 
United States 754  1,202  — 
Other Countries —  1,175,562  — 
Rights —  5  — 
Warrants —  2  — 
Short-Term Investments 239,991  —  — 
$ 3,856,533  $ 23,185,390  — 

7. Risk Factors

The value of the funds’ shares will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the funds and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the funds’ investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

There are certain risks involved in investing in foreign securities. These risks include those resulting from political events (such as civil unrest, national elections and imposition of exchange controls), social and economic events (such as labor strikes and rising inflation), and natural disasters. Securities of foreign issuers may be less liquid and more volatile. Investing in emerging markets or a significant portion of assets in one country or region may accentuate these risks.



108

8. Federal Tax Information

The tax character of distributions paid during the period ended August 31, 2022 were as follows:
2022
Distributions Paid From:
Ordinary Income Long-term Capital Gains
Avantis Responsible Emerging Markets Equity ETF(1)
 $ 28,080  — 
Avantis Responsible International Equity ETF(2)
 $ 106,155  — 
(1)March 28, 2022 (fund inception) through August 31, 2022.
(2)March 15, 2022 (fund inception) through August 31, 2022.

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

As of period end, the federal tax cost of investments and the components of distributable earnings on a tax-basis were as follows:

Avantis Responsible Emerging Markets Equity ETF Avantis Responsible International Equity ETF
Federal tax cost of investments $ 13,840,805  $ 28,719,368 
Gross tax appreciation of investments $ 411,996  $ 393,811 
Gross tax depreciation of investments (1,244,200) (2,071,256)
Net tax appreciation (depreciation) of investments (832,204) (1,677,445)
Net tax appreciation (depreciation) on translation of assets and
liabilities in foreign currencies		 (20,482) (1,132)
Net tax appreciation (depreciation) $ (852,686) $ (1,678,577)
Undistributed ordinary income $ 157,920  $ 116,740 
Accumulated short-term capital losses $ (35,060) $ (14,380)

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the realization to ordinary income for tax purposes of unrealized gains on investments in passive
foreign investment companies.

Accumulated capital losses represent net capital loss carryovers that may be used to offset future realized
capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an
unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue
Code limitations.



109

Financial Highlights
For a Share Outstanding Throughout the Period Indicated
Per-Share Data Ratios and Supplemental Data
Income From Investment Operations: Ratio to Average Net Assets of:
Net
Asset Value, Beginning
of Period
Net
Investment
Income (Loss)(1)
 Net
Realized and
Unrealized
Gain (Loss)		 Total From
Investment
Operations		 Distributions From Net Investment Income
Other
Capital(1)
 Net Asset Value, End of Period
Total
Return(2)
 Operating
Expenses		 Net
Investment
Income
(Loss)
Portfolio
Turnover
Rate(3)
 Net Assets,
End of
Period
(in thousands)
Avantis Responsible Emerging Markets Equity ETF
2022(4)
 $49.47 0.93 (7.00) (6.07) (0.14) 0.12 $43.38 (12.04)%
0.33%(5)
4.89%(5)
 2% $13,014 

Notes to Financial Highlights
(1)Computed using average shares outstanding throughout the period.
(2)Total returns are calculated based on the net asset value of the last business day. Total returns for periods less than one year are not annualized.
(3)Excludes securities received or delivered in kind.
(4)March 28, 2022 (fund inception) through August 31, 2022.
(5)Annualized.


See Notes to Financial Statements.


For a Share Outstanding Throughout the Period Indicated
Per-Share Data Ratios and Supplemental Data
Income From Investment Operations: Ratio to Average Net Assets of:  
Net Asset
Value, Beginning
of Period
Net
Investment
Income
(Loss)(1)
 Net
Realized and
Unrealized
Gain (Loss)		 Total From
Investment
Operations		 Distributions From Net Investment Income
Other
Capital(1)
 Net Asset Value, End of Period
Total
Return(2)
 Operating
Expenses		 Net
Investment
Income
(Loss)
Portfolio
Turnover
Rate(3)
 Net Assets,
End of
Period
(in thousands)
Avantis Responsible International Equity ETF
2022(4)
 $50.51 0.66 (6.10) (5.44) (0.30) 0.06 $44.83 (10.66)%
0.23%(5)
3.01%(5)
 3% $26,898 

Notes to Financial Highlights
(1)Computed using average shares outstanding throughout the period.
(2)Total returns are calculated based on the net asset value of the last business day. Total returns for periods less than one year are not annualized.
(3)Excludes securities received or delivered in kind.
(4)March 15, 2022 (fund inception) through August 31, 2022.
(5)Annualized.


See Notes to Financial Statements.



Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Trustees of American Century ETF Trust:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Avantis® Responsible Emerging Markets Equity ETF and Avantis® Responsible International Equity ETF (the “Funds”), two of the funds constituting the American Century ETF Trust, as of August 31, 2022, the related statements of operations, statements of changes in net assets, and financial highlights for the periods indicated in the table below; and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds constituting American Century ETF Trust as of August 31, 2022, and the results of their operations, the changes in their net assets, and the financial highlights for the periods listed in the table below, in conformity with accounting principles generally accepted in the United States of America.
Individual Fund Constituting the American Century ETF Trust Statement of Operations Statements of Changes in Net Assets Financial Highlights
Avantis® Responsible Emerging Markets Equity ETF
 For the period March 28, 2022 (fund inception) through August 31, 2022
Avantis® Responsible International Equity ETF
 For the period March 15, 2022 (fund inception) through August 31, 2022

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.

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Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of August 31, 2022, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Kansas City, Missouri
October 17, 2022

We have served as the auditor of one or more American Century investment companies since 1997.
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Management

The Board of Trustees
The individuals listed below serve as trustees of the funds. Each trustee will continue to serve in this capacity until death, retirement, resignation or removal from office. The board has adopted a mandatory retirement age for trustees who are not “interested persons,” as that term is defined in the Investment Company Act (independent trustees). Trustees who are not also officers of the trust shall retire on December 31st of the year in which they reach their 75th birthday.
Jonathan S. Thomas is an “interested person” because he currently serves as President and Chief Executive Officer of American Century Companies, Inc. (ACC), the parent company of American Century Investment Management, Inc. (ACIM or the advisor). The other trustees are independent. They are not employees, directors or officers of, and have no financial interest in, ACC or any of its wholly owned, direct or indirect, subsidiaries, including ACIM and American Century Services, LLC (ACS), and they do not have any other affiliations, positions or relationships that would cause them to be considered “interested persons” under the Investment Company Act. The following trustees also serve in this capacity for a number of other registered investment companies in the American Century Investments family of funds: Jonathan S. Thomas, 15; Jeremy I. Bulow, 8; and Stephen E. Yates, 7.
The following table presents additional information about the trustees. The mailing address for each trustee other than Jonathan S. Thomas is 330 Madison Avenue, New York, New York 10017. The mailing address for Jonathan S. Thomas is 4500 Main Street, Kansas City, Missouri 64111.
Name
(Year of Birth)		 Position(s) Held with Funds Length of Time Served Principal Occupation(s) During Past 5 Years Number of American Century Portfolios Overseen by Trustee Other Directorships Held During Past 5 Years
Independent Trustees
Reginald M. Browne
(1968)		 Trustee and Chairman of the Board Since 2017 (Chairman since 2019) Principal, GTS Securities (automated capital markets trading firm)(2019 to present); Senior Managing Director, Co Global Head-ETF Group, Cantor Fitzgerald (financial services firm)(2013 to 2019) 41 None
Jeremy I. Bulow
(1954)		 Trustee Since 2022 Professor of Economics, Stanford University
Graduate School of Business (1979 to present)		 75 None
Barry A. Mendelson
(1958)		 Trustee Since 2017 Retired 41 None
Stephen E. Yates
(1948)		 Trustee Since 2017 Retired 105 None
Interested Trustees
Jonathan S. Thomas
(1963)		 Trustee Since 2017 President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries 139 None
The Statement of Additional Information has additional information about the funds' trustees and is available without charge, upon request, by calling 1-800-345-6488.
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Officers
The following table presents certain information about the executive officers of the funds. Each officer, except Cleo Chang and Edward Rosenberg, serves as an officer for each of the 16 investment companies in the American Century family of funds. No officer is compensated for his or her service as an officer of the funds. The listed officers are interested persons of the funds and are appointed or re-appointed on an annual basis. The mailing address for each officer listed below is 4500 Main Street, Kansas City, Missouri 64111.
Name
(Year of Birth)		 Offices with the Funds Principal Occupation(s) During the Past Five Years
Patrick Bannigan
(1965)
 President since 2019 Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries
R. Wes Campbell
(1974)		 Chief Financial Officer and Treasurer since 2018 Vice President, ACS (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present)
Amy D. Shelton
(1964)		 Chief Compliance Officer and Vice President since 2017 Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS
John Pak
(1968)		 General Counsel and
Vice President since
2021		 General Counsel and Senior Vice President, ACC (2021 to present). Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management,The Bank of New York Mellon (2014 to 2021)
Cleo Chang
(1977)		 Vice President
since 2019		 Senior Vice President, ACIM (2015 to present)
David H. Reinmiller
(1963)		 Vice President since 2017 Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS
Edward Rosenberg
(1973)		 Vice President since 2017 Senior Vice President, ACIM (2017 to present); Senior Vice President, Flexshares Head of ETF Capital Markets, Northern Trust (2012 to 2017)
C. Jean Wade
(1964)		 Vice President since 2017 Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017)
Ward D. Stauffer
(1960)		 Secretary since 2019 Attorney, ACS (2003 to present)
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Approval of Management Agreement

At a meeting held on March 2, 2022, the Funds’ Board of Trustees (the "Board") unanimously approved the initial management agreement pursuant to which American Century Investment Management, Inc. (the “Advisor”) acts as the investment advisor for the Avantis Responsible Emerging Markets Equity ETF and Avantis Responsible International Equity ETF (collectively the "Funds"). Under Section 15(c) of the of the Investment Company Act of 1940, new contracts for investment advisory services are required to be approved by a majority of a fund’s independent Trustees and to be evaluated on an annual basis thereafter.

In advance of the Board’s consideration, the Advisor provided information concerning the Funds. The materials circulated and the discussions held detailed the investment objective and strategy proposed to be utilized by the Advisor, the Funds’ characteristics and key attributes, the rationale for launching the Funds, the experience of the staff designated to manage the Funds, the proposed pricing, and the markets in which the Funds would be sold. The information considered and the discussions held included, but were not limited to:

•the nature, extent, and quality of investment management and other services to be provided to the Funds;
•the wide range of other programs and services the Advisor would provide to each Fund and its shareholders on a routine and non-routine basis;
•each Fund’s proposed investment objective and strategy, including a discussion of its anticipated investment performance and proposed benchmark;
•the cost of owning each Fund compared to the cost of owning similarly-managed funds;
•the Advisor’s compliance policies, procedures, and regulatory experience; and
•any collateral benefits derived by the Advisor from the management of the Funds.

Part of the Board’s analysis of fee levels involves reviewing certain evaluative data compiled by an independent data provider and comparing each Fund’s fee to the total expense ratio of expected peer funds. The annual management fees charged to shareholders of each of the Funds were anticipated to be below the median of the total expense ratios of their respective peer universe.

When considering the approval of the management agreement for the Funds, the independent Trustees considered the entrepreneurial risk that the Advisor assumes in launching a new fund. In particular, they considered the fact that the Advisor will assume a substantial part of the start-up costs of the Funds and the risk that the Funds will not grow to a level that will become profitable to the Advisor. The Board considered the position that the Funds would take in the lineup of the American Century Investments’ family of funds and the benefits to shareholders of existing funds of the broadened product offering. Finally, while not specifically discussed, but important in the decision to approve the management agreement, is the Trustees’ familiarity with the Advisor. A majority of the Board oversees and evaluates on a continuous basis the nature and quality of all services the Advisor performs for other funds within the American Century Investments’ complex. As such, the Trustees have confidence in the Advisor’s integrity and competence in providing services to the Funds.

The independent Trustees considered all of the information provided by the Advisor and the independent Trustees’ independent counsel in connection with the approval, and evaluated such information for the Funds. In connection with their review, the Trustees did not identify any single factor as being all-important or controlling, and each Trustee may have attributed different levels of importance to different factors. The independent Trustees concluded that the overall arrangements between the Funds and the Advisor, as provided in the management agreement, were fair and reasonable in light of the services to be provided and should be approved.
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Additional Information
 
Retirement Account Information
 
As required by law, distributions you receive from certain retirement accounts are subject to federal income tax withholding, unless you elect not to have withholding apply*. Tax will be withheld on the total amount withdrawn even though you may be receiving amounts that are not subject to withholding, such as nondeductible contributions. In such case, excess amounts of withholding could occur. You may adjust your withholding election so that a greater or lesser amount will be withheld.
Remember, even if you elect not to have income tax withheld, you are liable for paying income tax on the taxable portion of your withdrawal. If you elect not to have income tax withheld or you don’t have enough income tax withheld, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. You can reduce or defer the income tax on a distribution by directly or indirectly rolling such distribution over to another IRA or eligible plan. You should consult your tax advisor for additional information.
State tax will be withheld if, at the time of your distribution, your address is within one of the mandatory withholding states and you have federal income tax withheld (or as otherwise required by state law). State taxes will be withheld from your distribution in accordance with the respective state rules.
*Some 403(b), 457 and qualified retirement plan distributions may be subject to 20% mandatory withholding, as they are subject to special tax and withholding rules.  Your plan administrator or plan sponsor is required to provide you with a special tax notice explaining those rules at the time you request a distribution.  If applicable, federal and/or state taxes may be withheld from your distribution amount.

 
Proxy Voting Policies
 
A description of the policies that the funds' investment advisor uses in exercising the voting rights associated with the securities purchased and/or held by the funds is available without charge, upon request, by calling 1-800-345-6488. It is also available on American Century Investments’ website at americancentury.com/proxy and on the Securities and Exchange Commission’s website at sec.gov. Information regarding how the investment advisor voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available at americancentury.com/proxy. It is also available at sec.gov.


Quarterly Portfolio Disclosure
 
The funds file their complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The funds' Form N-PORT reports are available on the SEC’s website at sec.gov.











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Other Tax Information

The following information is provided pursuant to provisions of the Internal Revenue Code.

The funds hereby designate up to the maximum amount allowable as qualified dividend income for the fiscal year ended August 31, 2022.

For corporate taxpayers, Avantis Responsible Emerging Markets Equity ETF hereby designates $438, or up to the maximum amount allowable, of ordinary income distributions paid during the fiscal year ended August 31, 2022 as qualified for the corporate dividends received deduction.

For the fiscal year ended August 31, 2022, the funds intend to pass through to shareholders the following foreign source income and foreign taxes paid, or up to the maximum amount allowable, as a foreign tax credit.

Foreign Tax Credit Foreign Source Income
Amount Per
Outstanding
Share		 Amount Per
Outstanding
Share
Avantis Responsible Emerging Markets Equity ETF $ 27,186  $ 0.0906  $ 198,014  $ 0.6600 
Avantis Responsible International Equity ETF $ 20,398  $ 0.0340  $ 235,573  $ 0.3926 

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Notes
119

Notes
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American Century ETF Trust
Investment Advisor:
American Century Investment Management, Inc.
Kansas City, Missouri
Distributor:
Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investment Services, Inc.
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.
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