200 Central Avenue, Suite 220
St. Petersburg, FL 33701
(Address of principal executive offices) (Zip code)

Corporation Service Company
251 Little Falls Drive
Wilmington, DE 19808
(Name and address of agent for service)

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

ARK Genomic Revolution ETF

ARKG | Cboe BZX Exchange, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Genomic Revolution ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Genomic Revolution ETF	$38	0.75%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$1,183,025,575
Total number of portfolio holdings	36
Period portfolio turnover rate	20%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Health Care	99.3%
Information Technology	0.6%
Financials (Money Market Fund)	0.1%
Total	100.0%

Availability of Additional Information

If you wish to find additional information about the Fund such as the prospectus, financial information, fund holdings and proxy voting information, please see the website address https://www.ark-funds.com/download-fund-materials/ or contact number (727) 810-8160 included at the beginning of this shareholder report.

ARK Autonomous Technology & Robotics ETF

ARKQ | Cboe BZX Exchange, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Autonomous Technology & Robotics ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Autonomous Technology & Robotics ETF	$46	0.75%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$1,012,396,740
Total number of portfolio holdings	37
Period portfolio turnover rate	14%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Industrials	39.5%
Information Technology	31.0%
Consumer Discretionary	19.0%
Communication Services	6.5%
Utilities	1.7%
Energy	1.2%
Health Care	1.1%
Financials (Money Market Fund)	0.0%
Total	100.0%

Availability of Additional Information

ARK Innovation ETF

ARKK | NYSE Arca, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Innovation ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Innovation ETF	$45	0.75%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$6,780,306,613
Total number of portfolio holdings	34
Period portfolio turnover rate	18%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Health Care	22.3%
Communication Services	21.1%
Financials	18.6%
Information Technology	18.1%
Consumer Discretionary	17.2%
Industrials	2.4%
Financials (Money Market Fund)	0.3%
Total	100.0%

Availability of Additional Information

ARK Next Generation Internet ETF

ARKW | NYSE Arca, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Next Generation Internet ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Next Generation Internet ETF	$48	0.75%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$1,909,752,538
Total number of portfolio holdings	39
Period portfolio turnover rate	13%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Financials	30.8%
Information Technology	26.6%
Communication Services	25.5%
Consumer Discretionary	17.0%
Financials (Money Market Fund)	0.1%
Total	100.0%

Availability of Additional Information

ARK Fintech Innovation ETF

ARKF | NYSE Arca, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Fintech Innovation ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Fintech Innovation ETF	$48	0.75%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$1,123,381,085
Total number of portfolio holdings	36
Period portfolio turnover rate	9%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Financials	48.7%
Communication Services	20.3%
Information Technology	20.2%
Consumer Discretionary	9.8%
Real Estate	1.0%
Total	100.0%

Availability of Additional Information

ARK Space Exploration & Innovation ETF

ARKX | Cboe BZX Exchange, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Space Exploration & Innovation ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Space Exploration & Innovation ETF	$44	0.73%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$314,795,335
Total number of portfolio holdings	33
Period portfolio turnover rate	10%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Industrials	57.4%
Information Technology	24.7%
Communication Services	10.1%
Consumer Discretionary	6.1%
Equity Fund	1.5%
Financials (Money Market Fund)	0.2%
Total	100.0%

Availability of Additional Information

The 3D Printing ETF

PRNT | Cboe BZX Exchange, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about The 3D Printing ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK The 3D Printing ETF	$35	0.67%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$90,761,726
Total number of portfolio holdings	52
Period portfolio turnover rate	15%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Information Technology	41.4%
Industrials	32.8%
Health Care	13.7%
Materials	5.6%
Consumer Discretionary	5.5%
Financials (Money Market Fund)	0.9%
Consumer Staples	0.1%
Total	100.0%

Availability of Additional Information

ARK Israel Innovative Technology ETF

IZRL | Cboe BZX Exchange, Inc.

SEMI ANNUAL SHAREHOLDER REPORT | JANUARY 31, 2025

This semi-annual shareholder report contains important information about ARK Israel Innovative Technology ETF (the "Fund") for the period of August 1, 2024 to January 31, 2025. You can find additional information about the Fund at https://www.ark-funds.com/download-fund-materials/. You can also request this information by contacting us at (727) 810-8160.

What were the Fund’s cost for the period?

(based on a hypothetical $10,000 investment)

Fund	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
ARK Israel Innovative Technology ETF	$28	0.51%

Fund Statistics

The following table outlines key Fund statistics that you should pay attention to:

Fund net assets	$104,012,986
Total number of portfolio holdings	54
Period portfolio turnover rate	27%

Graphical Representation of Holdings

The table below shows the investment makeup of the Fund. The allocations may not be representative of the Fund's future investments.

Sector Diversification	% of Total Investments
Information Technology	54.6%
Industrials	15.3%
Health Care	13.0%
Communication Services	11.3%
Consumer Discretionary	5.6%
Financials (Money Market Fund)	0.2%
Total	100.0%

Availability of Additional Information

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

Investments	Shares	Value
COMMON STOCKS – 99.6%
Biotechnology – 59.6%
Absci Corp.*†	8,605,933	$	31,928,011
Amgen, Inc.	64,406		18,382,761
Arcturus Therapeutics Holdings, Inc.*†	1,876,909		31,851,146
Beam Therapeutics, Inc.*	1,719,304		44,564,360
CareDx, Inc.*	2,271,241		52,919,915
Compass Pathways PLC (United Kingdom)*(a)	1,685,677		7,265,268
CRISPR Therapeutics AG (Switzerland)*	1,847,381		76,832,576
Exact Sciences Corp.*	76,730		4,300,717
Incyte Corp.*	156,814		11,629,326
Intellia Therapeutics, Inc.*	2,904,766		29,977,185
Ionis Pharmaceuticals, Inc.*	994,476		31,723,784
Natera, Inc.*	323,323		57,202,305
Nurix Therapeutics, Inc.*	1,484,259		29,254,745
Prime Medicine, Inc.*	2,372,677		6,643,496
Recursion Pharmaceuticals, Inc., Class A*	11,358,971		82,238,950
Regeneron Pharmaceuticals, Inc.*	12,806		8,618,182
Repare Therapeutics, Inc. (Canada)*	1,941,770		2,368,959
Twist Bioscience Corp.*	2,122,970		111,179,939
Veracyte, Inc.*	1,204,913		54,799,443
Vertex Pharmaceuticals, Inc.*	24,552		11,335,167
Total Biotechnology			705,016,235
Electronic Equipment, Instruments & Components – 0.6%
908 Devices, Inc.*†	2,707,225		6,768,063
Health Care Equipment & Supplies – 3.3%
Butterfly Network, Inc.*	6,556,670		26,161,113
Cerus Corp.*	7,110,253		13,296,173
Total Health Care Equipment & Supplies			39,457,286
Health Care Providers & Services – 7.1%
Accolade, Inc.*	2,774,550		19,116,649
Guardant Health, Inc.*	1,396,557		65,610,248
Total Health Care Providers & Services			84,726,897
Health Care Technology – 5.8%
Schrodinger, Inc.*	2,142,890		53,732,967
Veeva Systems, Inc., Class A*	63,819		14,886,420
Total Health Care Technology			68,619,387
Life Sciences Tools & Services – 23.2%
10X Genomics, Inc., Class A*	2,771,595		41,573,925
Adaptive Biotechnologies Corp.*†	7,992,831		61,944,440
Illumina, Inc.*	153,224		20,338,954
Pacific Biosciences of California, Inc.*	12,123,040		18,669,482
Personalis, Inc.*†	6,572,229		34,307,036
Quantum-Si, Inc.*†	8,137,889		16,113,020
Standard BioTools, Inc.*	3,224,624		4,998,167
Tempus AI, Inc.*	1,330,527		76,358,944
Total Life Sciences Tools & Services			274,303,968
Total Common Stocks (Cost $2,971,805,326)			1,178,891,836

Investments	Shares	Value
MONEY MARKET FUND – 0.1%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(b) (Cost $798,248)	798,248	$	798,248
Total Investments – 99.7% (Cost $2,972,603,574)			1,179,690,084
Other Assets in Excess of Liabilities – 0.3%			3,335,491
Net Assets – 100.0%		$	1,183,025,575

† Affiliated security

* Non-income producing security

(a) American Depositary Receipt

(b) Rate shown represents annualized 7-day yield as of January 31, 2025.

Affiliated Issuer Transactions

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities, or a company that is under common ownership or control. Period-to-date transactions with companies which are or were affiliates are as follows:

	Value ($) at 7/31/2024(a)	Purchases Cost ($)	Sales Proceeds ($)	Net Realized Gain/(Loss) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in non-affiliated securities ($)	Affiliated Dividend Income ($)	Number of Shares at 1/31/2025	Value ($) at 1/31/2025(a)
Common Stocks — 15.5%
Biotechnology — 5.4%
Absci Corp.	24,990,376	35,902,777	(24,014,417)	1,356,927	(6,307,652)	—	—	8,605,933	31,928,011
Arcturus Therapeutics Holdings, Inc.	45,569,126	33,849,177	(34,454,961)	(1,386,672)	(11,725,524)	—	—	1,876,909	31,851,146
CareDx, Inc.^	97,345,523	47,886,200	(115,893,131)	(80,401,841)	—	103,983,164	—	2,271,241	52,919,915
Repare Therapeutics, Inc.^	9,725,317	3,907,875	(5,840,905)	(17,698,463)	—	12,275,135	—	1,941,770	2,368,959
Electronic Equipment, Instruments & Components — 0.6%
908 Devices, Inc.	22,657,608	6,777,219	(11,184,725)	(42,512,578)	31,030,539	—	—	2,707,225	6,768,063
Health Care Equipment & Supplies — 0.0%
Butterfly Network, Inc.^	11,946,968	15,910,656	(26,105,046)	(50,583,244)	—	74,991,779	—	6,556,670	26,161,113
Health Care Providers & Services — 0.0%
Accolade, Inc.^	22,871,518	15,130,684	(31,351,383)	(102,252,356)	—	114,718,186	—	2,774,550	19,116,649
Life Sciences Tools & Services — 9.5%
Adaptive Biotechnologies Corp.	54,689,649	42,597,907	(66,135,689)	(93,366,036)	124,158,609	—	—	7,992,831	61,944,440
Personalis, Inc.	22,038,148	33,928,818	(31,315,939)	(70,088)	9,726,097	—	—	6,572,229	34,307,036
Quantum-Si, Inc.	13,382,946	10,944,797	(21,700,180)	(24,366,051)	37,851,508	—	—	8,137,889	16,113,020
	$325,217,179	$246,836,110	$(367,996,376)	$(411,280,402)	$184,733,577	$305,968,264	$ —	49,437,247	$283,478,352

(a) The fair value and number of shares of securities are only displayed at the beginning and end of each reporting period when such securities were considered an affiliate as of each date. Refer to the Schedule of Investments to view the fair value and number of shares as of January 31, 2025.

^ As of January 31, 2025, the company is no longer considered to be an affiliated security.

Fair Value Measurement

The Fund discloses the fair value of its investments in a hierarchy that distinguishes between: (i) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (ii) the Fund’s own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Genomic Revolution ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$1,178,891,836	$ —	$ —	$1,178,891,836
Money Market Fund	798,248	—	—	798,248
Total	$1,179,690,084	$ —	$ —	$1,179,690,084

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 100.0%
Aerospace & Defense – 27.5%
AeroVironment, Inc.*	169,105	$	30,464,266
Archer Aviation, Inc., Class A*	6,076,358		57,421,583
BWX Technologies, Inc.	94,922		10,719,541
Elbit Systems Ltd. (Israel)	45,716		13,968,524
Intuitive Machines, Inc.*	267,642		5,802,479
Kratos Defense & Security Solutions, Inc.*	2,929,103		97,744,167
Lockheed Martin Corp.	16,212		7,505,345
Rocket Lab USA, Inc.*	1,894,135		55,024,622
Total Aerospace & Defense			278,650,527
Automobile Components – 0.6%
Magna International, Inc. (Canada)	161,171		6,393,654
Automobiles – 15.4%
BYD Co. Ltd. (China)(a)	162,549		11,391,434
Tesla, Inc.*	357,348		144,583,001
Total Automobiles			155,974,435
Broadline Retail – 3.0%
Amazon.com, Inc.*	128,090		30,444,431
Diversified Telecommunication – 4.6%
Iridium Communications, Inc.	1,621,161		46,608,379
Electric Utilities – 1.7%
Oklo, Inc.*	403,960		16,808,776
Electronic Equipment, Instruments & Components – 5.3%
Teledyne Technologies, Inc.*	22,339		11,422,601
Trimble, Inc.*	563,576		42,245,657
Total Electronic Equipment, Instruments & Components			53,668,258
Health Care Equipment & Supplies – 1.1%
Intuitive Surgical, Inc.*	18,957		10,841,129
Interactive Media & Services – 1.9%
Alphabet, Inc., Class C	92,912		19,102,707
Machinery – 8.1%
3D Systems Corp.*	2,594,928		9,341,741
Caterpillar, Inc.	20,856		7,746,753
Deere & Co.	67,806		32,313,627
Komatsu Ltd. (Japan)(a)	885,560		26,726,201
Symbotic, Inc.*	183,696		5,391,477
Total Machinery			81,519,799
Oil, Gas & Consumable Fuels – 1.2%
Cameco Corp. (Canada)	251,593		12,438,758
Passenger Airlines – 3.9%
Blade Air Mobility, Inc.*†	5,480,931		21,101,584
Joby Aviation, Inc.*	2,217,771		18,318,789
Total Passenger Airlines			39,420,373

Investments	Shares	Value
Semiconductors & Semiconductor Equipment – 15.4%
Advanced Micro Devices, Inc.*	183,232	$	21,245,750
NVIDIA Corp.	122,615		14,722,383
QUALCOMM, Inc.	62,300		10,773,539
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)(a)	121,542		25,441,171
Teradyne, Inc.	726,845		84,161,383
Total Semiconductors & Semiconductor Equipment			156,344,226
Software – 10.3%
ANSYS, Inc.*	18,342		6,428,871
Aurora Innovation, Inc.*	2,349,403		15,975,940
Palantir Technologies, Inc., Class A*	508,396		41,937,586
Synopsys, Inc.*	19,816		10,412,912
UiPath, Inc., Class A*	2,087,028		29,677,538
Total Software			104,432,847
Total Common Stocks (Cost $908,736,149)			1,012,648,299
MONEY MARKET FUND – 0.0%(b)
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(c) (Cost $207,920)	207,920		207,920
Total Investments – 100.0% (Cost $908,944,069)			1,012,856,219
Liabilities in Excess of Other Assets – (0.0)%(b)			(459,479	)
Net Assets – 100.0%		$	1,012,396,740

† Affiliated security

* Non-income producing security

(a) American Depositary Receipt

(b) Less than 0.05%

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Autonomous Technology & Robotics ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$1,012,648,299	$ —	$ —	$1,012,648,299
Money Market Fund	207,920	—	—	207,920
Total	$1,012,856,219	$ —	$ —	$1,012,856,219

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 99.8%
Aerospace & Defense – 2.4%
Archer Aviation, Inc., Class A*	16,924,247	$	159,934,134
Automobiles – 13.4%
Tesla, Inc.*	2,249,412		910,112,095
Biotechnology – 14.7%
Beam Therapeutics, Inc.*†	4,694,377		121,678,252
CRISPR Therapeutics AG (Switzerland)*†	6,808,945		283,184,022
Intellia Therapeutics, Inc.*†	8,733,345		90,128,120
Natera, Inc.*	480,075		84,934,869
Prime Medicine, Inc.*	2,186,956		6,123,477
Recursion Pharmaceuticals, Inc., Class A*†	18,859,124		136,540,058
Twist Bioscience Corp.*†	3,008,312		157,545,300
Veracyte, Inc.*	2,635,678		119,870,635
Total Biotechnology			1,000,004,733
Broadline Retail – 1.9%
Amazon.com, Inc.*	549,777		130,670,998
Capital Markets – 13.6%
Coinbase Global, Inc., Class A*	1,975,981		575,662,545
Robinhood Markets, Inc., Class A*	6,668,445		346,425,718
Total Capital Markets			922,088,263
Consumer Finance – 1.3%
SoFi Technologies, Inc.*	5,340,350		84,270,723
Entertainment – 15.8%
ROBLOX Corp., Class A*	6,370,488		452,750,582
Roku, Inc.*†	7,466,340		617,914,298
Total Entertainment			1,070,664,880
Financial Services – 3.8%
Block, Inc.*	2,834,072		257,390,419
Health Care Equipment & Supplies – 0.3%
Cerus Corp.*†	11,754,333		21,980,603
Hotels, Restaurants & Leisure – 1.9%
DraftKings, Inc., Class A*	3,095,995		129,876,990
Interactive Media & Services – 3.7%
Meta Platforms, Inc., Class A	251,560		173,370,121
Pinterest, Inc., Class A*	2,392,706		78,863,590
Total Interactive Media & Services			252,233,711

Investments	Shares	Value
IT Services – 4.3%
Shopify, Inc., Class A (Canada)*	2,501,064	$	292,124,275
Life Sciences Tools & Services – 7.3%
10X Genomics, Inc., Class A*†	8,740,410		131,106,150
Illumina, Inc.*	661,786		87,845,473
Pacific Biosciences of California, Inc.*†	21,103,511		32,499,407
Tempus AI, Inc.*	4,254,076		244,141,422
Total Life Sciences Tools & Services			495,592,452
Media – 1.6%
Trade Desk, Inc. (The), Class A*	893,534		106,044,615
Semiconductors & Semiconductor Equipment – 3.0%
Advanced Micro Devices, Inc.*	709,346		82,248,669
Teradyne, Inc.	1,060,813		122,831,537
Total Semiconductors & Semiconductor Equipment			205,080,206
Software – 10.8%
Gitlab, Inc., Class A*	1,105,306		80,422,065
PagerDuty, Inc.*†	6,805,521		126,038,249
Palantir Technologies, Inc., Class A*	4,322,372		356,552,466
UiPath, Inc., Class A*	11,699,064		166,360,690
Total Software			729,373,470
Total Common Stocks (Cost $8,733,768,677)			6,767,442,567
MONEY MARKET FUND – 0.3%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(a) (Cost $19,330,348)	19,330,348		19,330,348
Total Investments – 100.1% (Cost $8,753,099,025)			6,786,772,915
Liabilities in Excess of Other Assets – (0.1)%			(6,466,302	)
Net Assets – 100.0%		$	6,780,306,613

* Non-income producing security

† Affiliated security

(a) Rate shown represents annualized 7-day yield as of January 31, 2025.

	Value ($) at 7/31/2024(a)	Purchases Cost ($)	Sales Proceeds ($)	Net Realized Gain/(Loss) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in non-affiliated securities ($)	Affiliated Dividend Income ($)	Number of Shares at 1/31/2025	Value ($) at 1/31/2025(a)
Common Stocks — 23.0%
Aerospace & Defense — 0.0%
Archer Aviation, Inc.^	65,008,132	101,643,581	(110,399,322)	27,952,115	—	75,729,628	—	16,924,247	159,934,134
Biotechnology — 9.3%
Beam Therapeutics, Inc.	155,963,970	92,142,036	(98,080,848)	(43,737,810)	15,390,904	—	—	4,694,377	121,678,252
CRISPR Therapeutics AG	302,476,878	278,942,685	(205,169,927)	(3,589,112)	(89,476,502)	—	—	6,808,945	283,184,022
Intellia Therapeutics, Inc.	218,386,385	109,623,839	(103,185,545)	(1,921,951)	(132,774,608)	—	—	8,733,345	90,128,120
Recursion Pharmaceuticals, Inc.	140,475,692	106,130,990	(94,665,078)	2,338,101	(17,739,647)	—	—	18,859,124	136,540,058
Twist Bioscience Corp.	165,426,030	106,469,780	(106,574,853)	(13,880,802)	6,105,145	—	—	3,008,312	157,545,300
Veracyte, Inc.^	92,262,048	61,404,686	(100,074,611)	(11,682,551)	—	77,961,063	—	2,635,678	119,870,635
Entertainment — 9.1%
Roku, Inc.	512,438,347	357,590,943	(456,605,672)	(22,491,515)	226,982,195	—	—	7,466,340	617,914,298
Health Care Equipment & Supplies — 0.3%
Cerus Corp.	22,993,572	18,163,707	(15,623,173)	(3,400,232)	(153,271)	—	—	11,754,333	21,980,603
Life Sciences Tools & Services — 2.4%
10X Genomics, Inc.	163,159,368	111,909,732	(102,566,291)	6,472,650	(47,869,309)	—	—	8,740,410	131,106,150
Pacific Biosciences of California, Inc.	38,446,666	33,538,692	(27,517,021)	(6,915,854)	(5,053,076)	—	—	21,103,511	32,499,407
Software — 1.9%
PagerDuty, Inc.	167,426,710	82,935,710	(105,138,814)	(3,864,584)	(15,320,773)	—	—	6,805,521	126,038,249
	$2,044,463,798	$1,460,496,381	$(1,525,601,154)	$(74,721,545)	$(59,908,942)	$153,690,691	$—	117,534,143	$1,998,419,228

^ As of January 31, 2025, the company is no longer considered to be an affiliated security.

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Innovation ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$6,767,442,567	$ —	$ —	$6,767,442,567
Money Market Fund	19,330,348	—	—	19,330,348
Total	$6,786,772,915	$ —	$ —	$6,786,772,915

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 87.4%
Automobiles – 10.1%
Tesla, Inc.*	479,134	$	193,857,617
Banks – 0.0%(a)
NU Holdings Ltd., Class A (Brazil)*	200		2,648
Broadline Retail – 2.9%
Amazon.com, Inc.*	129,266		30,723,943
MercadoLibre, Inc. (Brazil)*	12,985		24,959,637
Total Broadline Retail			55,683,580
Capital Markets – 12.7%
Coinbase Global, Inc., Class A*	401,976		117,107,668
Robinhood Markets, Inc., Class A*	2,399,993		124,679,636
Total Capital Markets			241,787,304
Entertainment – 15.7%
ROBLOX Corp., Class A*	1,784,375		126,815,531
Roku, Inc.*	1,727,060		142,931,486
Spotify Technology SA*	55,940		30,685,887
Total Entertainment			300,432,904
Financial Services – 5.6%
Adyen NV (Netherlands)*(b)	6,494		104,359
Block, Inc.*	930,187		84,479,583
Toast, Inc., Class A*	536,260		21,943,759
Total Financial Services			106,527,701
Hotels, Restaurants & Leisure – 4.0%
DraftKings, Inc., Class A*	914,294		38,354,633
Genius Sports Ltd. (United Kingdom)*	4,277,999		37,774,731
Total Hotels, Restaurants & Leisure			76,129,364
Interactive Media & Services – 8.3%
Meta Platforms, Inc., Class A	124,943		86,108,217
Nextdoor Holdings, Inc.*	6,638,659		17,393,287
Pinterest, Inc., Class A*	755,763		24,909,948
Reddit, Inc., Class A*	147,300		29,393,715
Total Interactive Media & Services			157,805,167
IT Services – 6.0%
Cloudflare, Inc., Class A*	288,165		39,882,036
Shopify, Inc., Class A (Canada)*	632,936		73,926,925
Total IT Services			113,808,961
Media – 1.5%
Trade Desk, Inc. (The), Class A*	246,897		29,301,736

Investments	Shares	Value
Semiconductors & Semiconductor Equipment – 3.8%
Advanced Micro Devices, Inc.*	214,041	$	24,818,054
NVIDIA Corp.	139,280		16,723,350
QUALCOMM, Inc.	70,856		12,253,128
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)(b)	88,532		18,531,518
Total Semiconductors & Semiconductor Equipment			72,326,050
Software – 15.9%
Crowdstrike Holdings, Inc., Class A*	98,101		39,051,065
Datadog, Inc., Class A*	119,435		17,044,569
Gitlab, Inc., Class A*	395,440		28,772,214
Microsoft Corp.	28,965		12,022,213
PagerDuty, Inc.*	1,278,774		23,682,895
Palantir Technologies, Inc., Class A*	1,029,607		84,932,281
Rubrik, Inc., Class A*	405,233		29,691,422
Salesforce.com, Inc.	54,076		18,477,769
UiPath, Inc., Class A*	1,946,800		27,683,496
Unity Software, Inc.*	1,048,351		23,273,392
Total Software			304,631,316
Technology Hardware, Storage & Peripherals – 0.9%
Pure Storage, Inc., Class A*	263,858		17,886,934
Total Common Stocks (Cost $1,333,094,900)			1,670,181,282
EXCHANGE-TRADED FUNDS – 12.6%
Financials –12.6%
3iQ Ether Staking ETF (Canada)*†	1,475,547		19,239,423
ARK 21Shares Bitcoin ETF†	2,172,360		220,125,239
Total Financials			239,364,662
Total Exchange-Traded Funds (Cost $107,171,298)			239,364,662
MONEY MARKET FUND – 0.1%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(c) (Cost $1,268,707)	1,268,707		1,268,707
Total Investments – 100.1% (Cost $1,441,534,905)			1,910,814,651
Liabilities in Excess of Other Assets – (0.1)%			(1,062,113	)
Net Assets – 100.0%		$	1,909,752,538

† Affiliated security

* Non-income producing security

(a) Less than 0.05%

(b) American Depositary Receipt

Affiliated Issuer Transactions

	Value ($) at 7/31/2024(a)	Purchases Cost ($)	Sales Proceeds ($)	Net Realized Gain/(Loss) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in non-affiliated securities ($)	Affiliated Dividend Income ($)	Number of Shares at 1/31/2025	Value ($) at 1/31/2025(a)
Exchange-Traded Funds — 12.5%
Financials — 12.5%
3iQ Ether Staking ETF	—	21,064,390	(1,976,447)	(199,183)	350,663	—	—	1,475,547	19,239,423
ARK 21Shares Active Ethereum Futures Strategy ETF	744,116	—	(559,671)	(155,855)	(28,590)	—	—	—	—
ARK 21Shares Bitcoin ETF	153,959,889	—	(13,282,453)	5,034,567	74,413,236	—	—	2,172,360	220,125,239
	$154,704,005	$21,064,390	$(15,818,571)	$4,679,529	$74,735,309	$ —	$ —	3,647,907	$239,364,662

^ As of January 31, 2025, the company is no longer considered to be an affiliated security.

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Next Generation Internet ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$1,670,181,282	$ —	$ —	$1,670,181,282
Exchange-Traded Funds	239,364,662	—	—	239,364,662
Money Market Fund	1,268,707	—	—	1,268,707
Total	$1,910,814,651	$ —	$ —	$1,910,814,651

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 93.2%
Banks – 1.4%
NU Holdings Ltd., Class A (Brazil)*	1,159,319	$	15,349,384
Broadline Retail – 6.1%
Amazon.com, Inc.*	46,224		10,986,520
Global-e Online Ltd. (Israel)*	425,445		25,479,901
MercadoLibre, Inc. (Brazil)*	16,666		32,035,219
Total Broadline Retail			68,501,640
Capital Markets – 17.9%
Coinbase Global, Inc., Class A*	359,189		104,642,531
Futu Holdings Ltd. (Hong Kong)(a)	128,243		12,394,686
Intercontinental Exchange, Inc.	62,515		9,991,772
Robinhood Markets, Inc., Class A*	1,430,468		74,312,813
Total Capital Markets			201,341,802
Consumer Finance – 5.3%
Kaspi.KZ JSC (Kazakhstan)(a)	115,817		11,014,196
SoFi Technologies, Inc.*	3,049,724		48,124,645
Total Consumer Finance			59,138,841
Entertainment – 10.7%
ROBLOX Corp., Class A*	624,485		44,382,149
Roku, Inc.*	440,475		36,453,711
Sea Ltd. (Singapore)*(a)	172,707		21,033,986
Spotify Technology SA*	33,824		18,554,155
Total Entertainment			120,424,001
Financial Services – 15.8%
Adyen NV (Netherlands)*(b)	20,525		33,429,379
AvidXchange Holdings, Inc.*	975,982		10,345,409
Block, Inc.*	723,588		65,716,262
PayPal Holdings, Inc.*	171,218		15,166,491
Toast, Inc., Class A*	1,290,481		52,806,483
Total Financial Services			177,464,024
Hotels, Restaurants & Leisure – 3.7%
DraftKings, Inc., Class A*	985,973		41,361,567
Insurance – 1.5%
Discovery Ltd. (South Africa)	1,744,230		16,898,468
Interactive Media & Services – 8.1%
LY Corp. (Japan)	4,605,596		13,508,402
Meta Platforms, Inc., Class A	43,914		30,264,651
Pinterest, Inc., Class A*	810,975		26,729,736
Reddit, Inc., Class A*	105,248		21,002,238
Total Interactive Media & Services			91,505,027
IT Services – 9.6%
Shopify, Inc., Class A (Canada)*	927,751		108,361,317
Media – 1.5%
Ibotta, Inc., Class A*	224,090		16,246,525

Investments	Shares	Value
Real Estate Management & Development – 1.0%
Zillow Group, Inc., Class C*	140,250	$	11,531,355
Semiconductors & Semiconductor Equipment – 1.0%
NVIDIA Corp.	91,410		10,975,599
Software – 9.6%
BILL Holdings Inc*	166,785		16,139,784
Crowdstrike Holdings, Inc., Class A*	38,133		15,179,603
Intuit, Inc.	21,431		12,890,961
Palantir Technologies, Inc., Class A*	485,693		40,064,816
UiPath, Inc., Class A*	1,685,601		23,969,246
Total Software			108,244,410
Total Common Stocks (Cost $889,849,128)			1,047,343,960
EXCHANGE-TRADED FUNDS – 6.8%
Financial Services – 6.8%
3iQ Ether Staking ETF (Canada)*†	886,193		11,554,930
ARK 21Shares Bitcoin ETF*†	636,601		64,506,779
Total Financial Services			76,061,709
Total Exchange – Traded Funds (Cost $51,854,434)			76,061,709
Total Investments – 100.0% (Cost $941,703,562)			1,123,405,669
Liabilities in Excess of Other Assets – (0.0)%(c)			(24,584	)
Net Assets – 100.0%		$	1,123,381,085

† Affiliated security

* Non-income producing security

(a) American Depositary Receipt

(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) The fair value and number of shares of securities are only displayed at the beginning and end of each reporting period when such securities were considered an affiliate as of each date. Refer to the Schedule of Investments for view the fair value and number of shares as of January 31, 2025.

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Fintech Innovation ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$1,047,343,960	$ —	$ —	$1,047,343,960
Exchange-Traded Funds	76,061,709	—	—	76,061,709
Total	$1,123,405,669	$ —	$ —	$1,123,405,669

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 98.2%
Aerospace & Defense – 41.8%
AeroVironment, Inc.*	86,312	$	15,549,107
Airbus SE (France)	19,142		3,318,648
Archer Aviation, Inc., Class A*	2,228,050		21,055,073
Elbit Systems Ltd. (Israel)	15,796		4,826,468
HEICO Corp.	15,717		3,755,420
Intuitive Machines, Inc.*	163,424		3,543,032
Kratos Defense & Security Solutions, Inc.*	900,324		30,043,812
L3Harris Technologies, Inc.	50,505		10,707,565
Lockheed Martin Corp.	5,961		2,759,645
Rocket Lab USA, Inc.*	1,059,787		30,786,812
Thales SA (France)	32,636		5,285,004
Total Aerospace & Defense			131,630,586
Air Freight & Logistics – 1.4%
JD Logistics, Inc. (China)*(a)	2,495,425		4,272,253
Broadline Retail – 4.2%
Amazon.com, Inc.*	55,870		13,279,182
Diversified Telecommunication – 8.0%
Iridium Communications, Inc.	873,613		25,116,374
Electronic Equipment, Instruments & Components – 7.4%
Teledyne Technologies, Inc.*	7,756		3,965,875
Trimble, Inc.*	259,685		19,465,988
Total Electronic Equipment, Instruments & Components			23,431,863
Household Durables – 1.9%
Garmin Ltd.	27,821		6,005,163
Industrial Conglomerates – 1.2%
Honeywell International, Inc.	16,816		3,762,075
Interactive Media & Services – 2.1%
Alphabet, Inc., Class C	32,637		6,710,167
Machinery – 6.9%
3D Systems Corp.*	622,124		2,239,646
Deere & Co.	17,568		8,372,206
Komatsu Ltd. (Japan)	363,588		11,102,568
Total Machinery			21,714,420
Passenger Airlines – 6.0%
Blade Air Mobility, Inc.*	2,479,745		9,547,018
Joby Aviation, Inc.*	1,112,742		9,191,249
Total Passenger Airlines			18,738,267

Investments	Shares	Value
Semiconductors & Semiconductor Equipment – 7.8%
Advanced Micro Devices, Inc.*	41,053	$	4,760,095
Teradyne, Inc.	170,138		19,700,279
Total Semiconductors & Semiconductor Equipment			24,460,374
Software – 9.5%
ANSYS, Inc.*	7,967		2,792,434
Dassault Systemes SE (France)	159,507		6,254,852
Palantir Technologies, Inc., Class A*	172,298		14,212,862
Synopsys, Inc.*	5,940		3,121,351
UiPath, Inc., Class A*	254,640		3,620,981
Total Software			30,002,480
Total Common Stocks (Cost $264,544,870)			309,123,204
EXCHANGE – TRADED FUND – 1.5%
Equity Fund – 1.5%
The 3D Printing ETF† (Cost $8,248,606)	212,058	$	4,671,638
MONEY MARKET FUND – 0.2%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(b) (Cost $711,000)	711,000		711,000
Total Investments – 99.9% (Cost $273,504,476)			314,505,842
Other Assets in Excess of Liabilities – 0.1%			289,493
Net Assets – 100.0%		$	314,795,335

† Affiliated security

* Non-income producing security

(a) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(b) Rate shown represents annualized 7-day yield as of January 31, 2025.

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Space Exploration & Innovation ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$309,123,204	$ —	$ —	$309,123,204
Exchange-Traded Fund	4,671,638	—	—	4,671,638
Money Market Fund	711,000	—	—	711,000
Total	$314,505,842	$ —	$ —	$314,505,842

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 98.8%
Aerospace & Defense – 5.8%
General Electric Co.	6,917	$	1,408,094
Hexcel Corp.	1,368		89,193
L3Harris Technologies, Inc.	5,700		1,208,457
Melrose Industries PLC (United Kingdom)	183,524		1,395,339
Moog, Inc., Class A	6,083		1,105,038
Total Aerospace & Defense			5,206,121
Air Freight & Logistics – 1.2%
United Parcel Service, Inc., Class B	9,583		1,094,666
Automobile Components – 1.4%
Cie Generale des Etablissements Michelin SCA (France)	37,248		1,298,338
Chemicals – 3.9%
5N Plus, Inc. (Canada)*	16,306		86,840
Arkema SA (France)	1,259		100,568
Avient Corp.	2,307		98,970
DuPont de Nemours, Inc.	1,250		96,000
Eastman Chemical Co.	1,046		104,234
Evonik Industries AG (Germany)	5,402		101,629
Titomic Ltd. (Australia)*	19,513,948		2,850,983
Toray Industries, Inc. (Japan)	14,805		103,047
Total Chemicals			3,542,271
Electrical Equipment – 1.7%
AMETEK, Inc.	8,041		1,484,047
SGL Carbon SE (Germany)*	22,474		88,129
Total Electrical Equipment			1,572,176
Electronic Equipment, Instruments & Components – 10.1%
FARO Technologies, Inc.*	107,949		3,424,142
Hexagon AB, Class B (Sweden)	144,047		1,683,697
Jabil, Inc.	593		96,309
Renishaw PLC (United Kingdom)	88,311		3,947,343
Total Electronic Equipment, Instruments & Components			9,151,491
Health Care Equipment & Supplies – 9.6%
Align Technology, Inc.*	6,470		1,417,642
DENTSPLY SIRONA, Inc.	174,363		3,445,413
Straumann Holding AG (Switzerland)	27,025		3,867,920
Total Health Care Equipment & Supplies			8,730,975
Household Durables – 4.1%
Nikon Corp. (Japan)	343,169		3,696,211
Industrial Conglomerates – 3.9%
3M Co.	689		104,866
Siemens AG (Germany)	15,951		3,432,787
Total Industrial Conglomerates			3,537,653
Life Sciences Tools & Services – 3.9%
BICO Group AB (Sweden)*	1,186,153		3,570,933

Investments	Shares	Value
Machinery – 16.2%
3D Systems Corp.*	1,186,075	$	4,269,870
Lincoln Electric Holdings, Inc.	6,414		1,274,975
Markforged Holding Corp.*	1		3
OC Oerlikon Corp. AG (Switzerland)	325,243		1,311,328
Proto Labs, Inc.*	94,994		3,964,100
Sandvik AB (Sweden)	5,165		107,140
Stratasys Ltd.*	405,974		3,779,618
Total Machinery			14,707,034
Metals & Mining – 1.7%
ATI Inc.*	1,668		95,226
Carpenter Technology Corp.	479		92,476
Kaiser Aluminum Corp.	16,744		1,172,080
Materion Corp.	964		97,364
voestalpine AG (Austria)	4,979		104,544
Total Metals & Mining			1,561,690
Software – 23.2%
Altair Engineering, Inc., Class A*	29,652		3,272,098
ANSYS, Inc.*	9,391		3,291,545
Autodesk, Inc.*	11,228		3,495,726
Dassault Systemes SE (France)	91,677		3,594,990
Materialise NV (Belgium)*(a)	477,479		4,001,274
PTC, Inc.*	17,418		3,370,035
Total Software			21,025,668
Technology Hardware, Storage & Peripherals – 8.1%
Eastman Kodak Co.*	13,068		96,573
HP, Inc.	111,663		3,629,047
Nano Dimension Ltd. (Israel)*(a)	1,566,287		3,618,123
Total Technology Hardware, Storage & Peripherals			7,343,743
Trading Companies & Distributors – 4.0%
Xometry, Inc., Class A*	109,298		3,629,786
Total Common Stocks
(Cost $115,153,884)			89,668,756
PREFERRED STOCK – 0.1%
Household Products – 0.1%
Henkel AG & Co. KGaA (Germany) (Cost $113,882)	1,099		96,019
MONEY MARKET FUND – 0.9%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(b)
(Cost $849,835)	849,835		849,835
Total Investments – 99.8%
(Cost $116,117,601)			90,614,610
Other Assets in Excess of Liabilities – 0.2%			147,116
Net Assets – 100.0%		$	90,761,726

* Non-income producing security

(a) American Depositary Receipt

(b) Rate shown represents annualized 7-day yield as of January 31, 2025.

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

The 3D Printing ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$89,668,756	$ —	$ —	$89,668,756
Preferred Stock‡	96,019	—	—	96,019
Money Market Fund	849,835	—	—	849,835
Total	$90,614,610	$ —	$ —	$90,614,610

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

Investments	Shares	Value
COMMON STOCKS – 99.8%
Aerospace & Defense – 8.0%
Aryt Industries Ltd. (Israel)	574,085	$	2,135,630
Bet Shemesh Engines Holdings 1997 Ltd. (Israel)*	17,998		2,102,676
Elbit Systems Ltd. (Israel)	6,587		1,988,122
TAT Technologies Ltd.*	68,805		2,113,438
Total Aerospace & Defense			8,339,866
Automobile Components – 1.8%
Mobileye Global, Inc., Class A (Israel)*	115,987		1,916,685
Biotechnology – 4.0%
Compugen Ltd. (Israel)*	889,669		2,109,853
UroGen Pharma Ltd.*	185,790		2,045,548
Total Biotechnology			4,155,401
Communications Equipment – 5.7%
AudioCodes Ltd. (Israel)	185,117		1,878,938
Gilat Satellite Networks Ltd. (Israel)*	294,105		2,102,851
Ituran Location and Control Ltd. (Israel)	58,927		1,967,572
Total Communications Equipment			5,949,361
Diversified Telecommunication – 1.9%
Bezeq The Israeli Telecommunication Corp. Ltd. (Israel)	1,216,060		1,934,262
Electronic Equipment, Instruments & Components – 3.9%
Nayax Ltd. (Israel)*	56,509		2,147,970
Telsys Ltd. (Israel)	38,080		1,932,790
Total Electronic Equipment, Instruments & Components			4,080,760
Entertainment – 1.9%
Playtika Holding Corp.	275,372		1,974,417
Health Care Equipment & Supplies – 3.8%
Brainsway Ltd. (Israel)*(a)	188,328		1,979,327
Inmode Ltd.*	116,709		2,008,562
Total Health Care Equipment & Supplies			3,987,889
Health Care Providers & Servic – 1.6%
Nano-X Imaging Ltd. (Israel)*	229,777		1,672,777
Hotels, Restaurants & Leisure – 3.8%
Fattal Holdings 1998 Ltd. (Israel)*	13,779		1,927,496
Isrotel Ltd. (Israel)*	82,549		1,984,185
Total Hotels, Restaurants & Leisure			3,911,681
Interactive Media & Services – 2.0%
Taboola.com Ltd. (Israel)*	539,207		2,054,379
IT Services – 5.6%
Matrix IT Ltd. (Israel)	80,764		1,989,586
One Software Technologies Ltd. (Israel)	107,858		1,962,480
Wix.com Ltd. (Israel)*	8,024		1,916,853
Total IT Services			5,868,919

Investments	Shares	Value
Machinery – 1.9%
Stratasys Ltd.*	217,668	$	2,026,489
Media – 1.9%
Perion Network Ltd. (Israel)*	217,298		1,946,990
Pharmaceuticals – 3.6%
MediWound Ltd. (Israel)*	106,930		2,093,689
Teva Pharmaceutical Industries Ltd. (Israel)*(a)	90,253		1,600,186
Total Pharmaceuticals			3,693,875
Professional Services – 5.3%
Danel Adir Yeoshua Ltd. (Israel)	15,905		1,847,041
Fiverr International Ltd.*	55,682		1,718,903
Hilan Ltd. (Israel)	31,433		1,971,426
Total Professional Services			5,537,370
Semiconductors & Semiconductor Equipment – 8.5%
Camtek Ltd. (Israel)	19,820		1,873,783
Nova Ltd. (Israel)*	8,015		1,965,118
Qualitau Ltd. (Israel)	25,763		1,792,948
Tower Semiconductor Ltd. (Israel)*	37,159		1,816,703
Valens Semiconductor Ltd. (Israel)*	567,753		1,339,897
Total Semiconductors & Semiconductor Equipment			8,788,449
Software – 31.0%
Allot Ltd. (Israel)*	248,490		2,136,324
Cellebrite DI Ltd. (Israel)*	84,700		2,036,188
Check Point Software Technologies Ltd. (Israel)*	10,440		2,276,129
Cognyte Software Ltd. (Israel)*	197,018		1,834,238
CyberArk Software Ltd.*	5,586		2,072,294
JFrog Ltd. (Israel)*	58,395		2,029,810
Magic Software Enterprises Ltd. (Israel)	153,868		2,016,940
Monday.com Ltd.*	8,030		2,051,344
Nice Ltd. (Israel)*(a)	11,883		1,974,242
Pagaya Technologies Ltd., Class A*	219,110		2,033,341
RADCOM Ltd. (Israel)*	137,832		1,768,384
Radware Ltd. (Israel)*	89,327		1,987,526
Riskified Ltd., Class A*	391,067		2,010,084
Sapiens International Corp. NV (Israel)	74,531		2,039,168
SimilarWeb Ltd. (Israel)*	120,751		1,957,374
WalkMe Ltd. (Israel)*	145,813		2,034,091
Total Software			32,257,477
Wireless Telecommunication Services – 3.6%
Cellcom Israel Ltd. (Israel)*	285,158		1,880,119
Partner Communications Co. Ltd. (Israel)*	262,332		1,833,002
Total Wireless Telecommunication Services			3,713,121
Total Common Stocks
(Cost $88,435,173)			103,810,168

Investments	Shares	Value
MONEY MARKET FUND – 0.2%
Goldman Sachs Financial Square Treasury Obligations Fund, 4.28%(b) (Cost $246,247)	246,247	$	246,247
Total Investments – 100.0% (Cost $88,681,420)			104,056,415
Liabilities in Excess of Other Assets – (0.0)%(c)			(43,429	)
Net Assets – 100.0%		$	104,012,986

* Non-income producing security

(a) American Depositary Receipt

(b) Rate shown represents annualized 7-day yield as of January 31, 2025.

Country	Value	% of Net Assets
Israel	$ 83,755,747	80.5%
United States	20,300,668	19.5
Total Investments	104,056,415	100.0
Liabilities in Excess of Other Assets	(43,429)	(0.0)
Net Assets	$104,012,986	100.0%

Fair Value Measurement

• Level 1 – Quoted prices in active markets for identical assets.

• Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuations as of January 31, 2025, based upon the three levels defined above:

ARK Israel Innovative Technology ETF	Level 1	Level 2	Level 3	Total
Assets
Common Stocks‡	$101,776,077	$ —	$2,034,091	$103,810,168
Money Market Fund	246,247	—	—	246,247
Total	$102,022,324	$ —	$2,034,091	$104,056,415

‡ Please refer to the Schedule of Investments to view securities segregated by industry type.

	ARK Genomic Revolution ETF	ARK Autonomous Technology & Robotics ETF	ARK Innovation ETF	ARK Next Generation Internet ETF (consolidated)
ASSETS:
Investments in non-affiliated securities at fair value (Note 2)	$ 996,778,368	$ 991,754,635	$ 5,068,158,456	$ 1,671,449,989
Investments in affiliated securities at fair value (Note 2)	182,911,716	21,101,584	1,718,614,459	239,364,662
Receivables:
Dividends and interest	2,937	130,148	44,169	3,982
Capital shares sold	—	—	15,716,340	—
Investment securities sold	24,852,640	—	122,994,030	95,085
Tax reclaims	4,024,465	44,776	1,446,000	—
Total Assets	1,208,570,126	1,013,031,143	6,926,973,454	1,910,913,718
LIABILITIES:
Due to custodian	2	—	—	432
Payables:
Capital shares purchased	22,826,995	—	116,300,914	—
Investment securities purchased	1,989,458	—	26,254,595	—
Management fees (Note 3)	728,096	634,403	4,111,332	1,160,748
Total Liabilities	25,544,551	634,403	146,666,841	1,161,180
NET ASSETS	$ 1,183,025,575	$1,012,396,740	$ 6,780,306,613	$ 1,909,752,538
NET ASSETS CONSIST OF:
Paid-in capital	$ 6,235,647,577	$1,489,117,972	$16,245,835,363	$ 3,441,528,425
Total accumulated loss	(5,052,622,002)	(476,721,232)	(9,465,528,750)	(1,531,775,887	)
NET ASSETS	$ 1,183,025,575	$1,012,396,740	$ 6,780,306,613	$ 1,909,752,538
Shares outstanding no par value (unlimited shares authorized)	44,050,000	12,350,000	107,850,000	15,850,000
Net asset value, per share	$ 26.86	$ 81.97	$ 62.87	$ 120.49
Investments in non-affiliated securities at cost	$ 2,291,367,319	$ 845,694,659	$ 4,391,492,557	$ 1,334,363,607
Investments in affiliated securities at cost	$ 681,236,255	$ 63,249,410	$ 4,361,606,468	$ 107,171,298

	ARK Fintech Innovation ETF (consolidated)	ARK Space Exploration & Innovation ETF	The 3D Printing ETF	ARK Israel Innovative Technology ETF
ASSETS:
Investments in non-affiliated securities at fair value (Note 2)	$ 1,047,343,960	$309,834,204	$ 90,614,610	$ 104,056,415
Investments in affiliated securities at fair value (Note 2)	76,061,709	4,671,638	—	—
Foreign currency	—	—	318,993	—
Receivables:
Dividends and interest	2,321	28,062	15,237	3,250
Capital shares sold	—	56,840	—	—
Investment securities sold	1,139,960	483,179	—	—
Tax reclaims	13,157	—	250,319	—
Total Assets	1,124,561,107	315,073,923	91,199,159	104,059,665
LIABILITIES:
Due to custodian	483,456	—	—	3,320
Due to custodian for foreign currency	9,487	4,412	—	973
Payables:
Investment securities purchased	—	85,117	386,503	—
Management fees (Note 3)	687,079	189,059	50,160	41,521
Other accrued expenses	—	—	770	865
Total Liabilities	1,180,022	278,588	437,433	46,679
NET ASSETS	$ 1,123,381,085	$314,795,335	$ 90,761,726	$ 104,012,986
NET ASSETS CONSIST OF:
Paid-in capital	$ 2,399,932,586	$379,328,107	$ 345,731,292	$ 215,951,161
Total accumulated loss	(1,276,551,501)	(64,532,772)	(254,969,566)	(111,938,175	)
NET ASSETS	$ 1,123,381,085	$314,795,335	$ 90,761,726	$ 104,012,986
Shares outstanding no par value (unlimited shares authorized)	26,950,000	15,100,000	4,100,000	4,350,000
Net asset value, per share	$ 41.68	$ 20.85	$ 22.14	$ 23.91
Investments in non-affiliated securities at cost	$ 889,849,128	$265,255,870	$ 116,117,601	$ 88,681,420
Investments in affiliated securities at cost	$ 51,854,434	$ 8,248,606	$ —	$ —
Foreign currency at cost	$ —	$ —	$ 320,105	$ —

	ARK Genomic Revolution ETF	ARK Autonomous Technology & Robotics ETF	ARK Innovation ETF	ARK Next Generation Internet ETF (consolidated)
INVESTMENT INCOME:
Unaffiliated dividend income	$ 379,007	$ 2,039,416	$ 756,303	$ 431,213
Foreign withholding tax	(1,148,968)	(158,972)	(332,642)	(24,045	)
Total Income	(769,961)	1,880,444	423,661	407,168
EXPENSES:
Management fees	4,700,380	3,190,431	22,928,956	5,916,995
Overdraft expense	64	—	84	1,762
Total Expenses	4,700,444	3,190,431	22,929,040	5,918,757
Net Investment Loss	(5,470,405)	(1,309,987)	(22,505,379)	(5,511,589	)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSLATION:
Net realized gain (loss) on:
Investments in non-affiliated securities	(470,586,873)	(133,484,148)	(1,426,091,468)	(208,663,108	)
Investments in affiliated securities	(385,823,928)	—	(93,789,418)	4,825,271
In-kind redemptions – non-affiliated securities	29,854,529	3,057,684	803,264,290	62,709,842
In-kind redemptions – affiliated securities	(25,456,474)	(37,689)	19,067,873	(145,742	)
Net realized loss	(852,012,746)	(130,464,153)	(697,548,723)	(141,273,737	)
Change in unrealized appreciation (depreciation) on:
Investments in non-affiliated securities	642,754,221	443,692,150	2,747,609,790	748,217,742
Investments in affiliated securities	184,733,577	2,953,087	(59,908,942)	74,735,309
Change in unrealized appreciation	827,487,798	446,645,237	2,687,700,848	822,953,051
Net realized and unrealized gain (loss) on investments and foreign currency translation	(24,524,948)	316,181,084	1,990,152,125	681,679,314
Net Increase (Decrease) in Net Assets Resulting From Operations	$ (29,995,353)	$ 314,871,097	$1,967,646,746	$ 676,167,725

	ARK Fintech Innovation ETF (consolidated)	ARK Space Exploration & Innovation ETF	The 3D Printing ETF	ARK Israel Innovative Technology ETF
INVESTMENT INCOME:
Unaffiliated dividend income	$ 796,116	$ 817,328	$ 359,643	$ 505,259
Affiliated dividend income	—	22,652	—	—
Foreign withholding tax	(23,837)	(27,454)	(6,613)	(108,422	)
Total Income	772,279	812,526	353,030	396,837
EXPENSES:
Management fees	3,665,803	952,511	317,275	240,235
Overdraft expense	12,775	239	1,504	9,710
Other expenses	—	—	4,843	4,981
Total Expenses	3,678,578	952,750	323,622	254,926
Less expense waivers and reimbursements	—	(15,889)(1)	—	—
Net Expenses	3,678,578	936,861	323,622	254,926
Net Investment Income (Loss)	(2,906,299)	(124,335)	29,408	141,911
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSLATION:
Net realized gain (loss) on:
Investments in non-affiliated securities	(21,749,756)	(25,894,349)	(18,615,614)	670,790
Investments in affiliated securities	(47,338)	(1,648,012)	—	—
Foreign currency transactions	(174,810)	(10,993)	(21,466)	(29,446	)
In-kind redemptions – non-affiliated securities	50,206,592	1,103,614	2,189,039	3,608,162
In-kind redemptions – affiliated securities	(71,003)	(224,200)	—	—
Net realized gain (loss)	28,163,685	(26,673,940)	(16,448,041)	4,249,506
Change in unrealized appreciation (depreciation) on:
Investments in non-affiliated securities	362,366,586	104,881,164	23,142,113	13,914,539
Investments in affiliated securities	23,246,048	2,084,780	—	—
Foreign currency translation	252	(510)	(11,352)	(2	)
Change in unrealized appreciation	385,612,886	106,965,434	23,130,761	13,914,537
Net realized and unrealized gain on investments and foreign currency translation	413,776,571	80,291,494	6,682,720	18,164,043
Net Increase in Net Assets Resulting From Operations	$410,870,272	$ 80,167,159	$ 6,712,128	$18,305,934

(1) The Adviser has agreed to reduce the acquired fund fees and expenses from their management fees for ARK Space Exploration & Innovation ETF as a result of investing in The 3D Printing ETF. Refer to Note 3.

	ARK Genomic Revolution ETF		ARK Autonomous Technology & Robotics ETF
	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024
OPERATIONS:
Net investment loss	$ (5,470,405)	$ (12,028,814)	$ (1,309,987)	$ (2,309,891	)
Net realized loss on investments and foreign currency transactions	(852,012,746)	(1,481,943,629)	(130,464,153)	(139,474,463	)
Net change in unrealized appreciation on investments and foreign currency translations	827,487,798	789,176,756	446,645,237	81,139,271
Net increase (decrease) in net assets resulting from operations	(29,995,353)	(704,795,687)	314,871,097	(60,645,083	)
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	—
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	878,769,618	1,072,099,765	4,046,428	10,865,479
Cost of shares redeemed	(1,129,150,644)	(1,400,563,723)	(98,340,614)	(329,058,291	)
Net decrease in net assets resulting from shareholder transactions	(250,381,026)	(328,463,958)	(94,294,186)	(318,192,812	)
Increase (decrease) in net assets	(280,376,379)	(1,033,259,645)	220,576,911	(378,837,895	)
NET ASSETS:
Beginning of period	1,463,401,954	2,496,661,599	791,819,829	1,170,657,724
End of period	$ 1,183,025,575	$ 1,463,401,954	$1,012,396,740	$ 791,819,829
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	54,300,000	65,800,000	14,000,000	19,900,000
Shares sold	35,050,000	38,250,000	50,000	200,000
Shares redeemed	(45,300,000)	(49,750,000)	(1,700,000)	(6,100,000	)
Shares outstanding, end of period	44,050,000	54,300,000	12,350,000	14,000,000

	ARK Innovation ETF		ARK Next Generation Internet ETF
	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024	Six Months Ended January 31, 2025 (Unaudited)	(consolidated) Year Ended July 31, 2024
OPERATIONS:
Net investment loss	$ (22,505,379)	$ (53,890,604)	$ (5,511,589)	$ (9,856,320	)
Net realized loss on investments and foreign currency transactions	(697,548,723)	(5,104,347,182)	(141,273,737)	(991,832,099	)
Net change in unrealized appreciation on investments and foreign currency translations	2,687,700,848	4,295,062,357	822,953,051	1,220,057,077
Net increase (decrease) in net assets resulting from operations	1,967,646,746	(863,175,429)	676,167,725	218,368,658
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	—
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	3,507,488,511	7,856,112,757	69,658,368	216,700,868
Cost of shares redeemed	(4,660,526,672)	(10,322,592,100)	(230,455,727)	(691,198,315	)
Net decrease in net assets resulting from shareholder transactions	(1,153,038,161)	(2,466,479,343)	(160,797,359)	(474,497,447	)
Increase (decrease) in net assets	814,608,585	(3,329,654,772)	515,370,366	(256,128,789	)
NET ASSETS:
Beginning of period	5,965,698,028	9,295,352,800	1,394,382,172	1,650,510,961
End of period	$ 6,780,306,613	$ 5,965,698,028	$1,909,752,538	$1,394,382,172
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	131,100,000	184,350,000	17,800,000	24,550,000
Shares sold	65,650,000	174,900,000	650,000	2,950,000
Shares redeemed	(88,900,000)	(228,150,000)	(2,600,000)	(9,700,000	)
Shares outstanding, end of period	107,850,000	131,100,000	15,850,000	17,800,000

	ARK Fintech Innovation ETF		ARK Space Exploration & Innovation ETF
	Six Months Ended January 31, 2025 (Unaudited)	(consolidated) Year Ended July 31, 2024	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024
OPERATIONS:
Net investment loss	$ (2,906,299)	$ (5,096,823)	$ (124,335)	$ (84,084	)
Net realized gain (loss) on investments and foreign currency transactions	28,163,685	(353,111,280)	(26,673,940)	(43,815,729	)
Net change in unrealized appreciation on investments and foreign currency translations	385,612,886	471,020,520	106,965,434	35,669,112
Net increase (decrease) in net assets resulting from operations	410,870,272	112,812,417	80,167,159	(8,230,701	)
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	—
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	59,030,238	35,042,227	18,505,192	6,395
Cost of shares redeemed	(174,733,076)	(407,930,411)	(10,113,039)	(64,478,167	)
Net increase (decrease) in net assets resulting from shareholder transactions	(115,702,838)	(372,888,184)	8,392,153	(64,471,772	)
Increase (decrease) in net assets	295,167,434	(260,075,767)	88,559,312	(72,702,473	)
NET ASSETS:
Beginning of period	828,213,651	1,088,289,418	226,236,023	298,938,496
End of period	$1,123,381,085	$ 828,213,651	$ 314,795,335	$226,236,023
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	30,400,000	45,050,000	14,800,000	19,200,000
Shares sold	1,700,000	1,300,000	950,000	—
Shares redeemed	(5,150,000)	(15,950,000)	(650,000)	(4,400,000	)
Shares outstanding, end of period	26,950,000	30,400,000	15,100,000	14,800,000

	The 3D Printing ETF		ARK Israel Innovative Technology ETF
	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024
OPERATIONS:
Net investment income	$ 29,408	$ 417,615	$ 141,891	$ 132,058
Net realized gain (loss) on investments and foreign currency transactions	(16,448,041)	(30,716,929)	4,249,506	(7,025,662	)
Net change in unrealized appreciation on investments and foreign currency translations	23,130,761	3,450,186	13,914,537	6,448,450
Net increase (decrease) in net assets resulting from operations	6,712,128	(26,849,128)	18,305,934	(445,154	)
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	(470,008)	—	(440,002)	—
SHAREHOLDER TRANSACTIONS:
Proceeds from shares sold	—	—	—	29,874,741
Cost of shares redeemed	(20,834,076)	(53,652,141)	(13,065,840)	(30,150,723	)
Net decrease in net assets resulting from shareholder transactions	(20,834,076)	(53,652,141)	(13,065,840)	(275,982	)
Increase (decrease) in net assets	(14,591,956)	(80,501,269)	4,800,092	(721,136	)
NET ASSETS:
Beginning of period	105,353,682	185,854,951	99,212,894	99,934,030
End of period	$ 90,761,726	$105,353,682	$104,012,986	$ 99,212,894
CHANGES IN SHARES OUTSTANDING:
Shares outstanding, beginning of period	5,100,000	7,600,000	4,950,000	4,975,000
Shares sold	—	—	—	1,600,000
Shares redeemed	(1,000,000)	(2,500,000)	(600,000)	(1,625,000	)
Shares outstanding, end of period	4,100,000	5,100,000	4,350,000	4,950,000

	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024	Year Ended July 31, 2023	Year Ended July 31, 2022	Year Ended July 31, 2021	Year Ended July 31, 2020
Per Share Data:
Net asset value, beginning of period	$ 26.95	$ 37.94	$ 36.67	$ 84.40	$ 53.70	$ 34.50
Net investment loss(1)	(0.11)	(0.20)	(0.23)	(0.35)	(0.24)	(0.28)
Net realized and unrealized gain (loss) on investments	0.02	(10.79)	1.50	(47.00)	31.73	20.53
Total gain (loss) from investment operations	(0.09)	(10.99)	1.27	(47.35)	31.49	20.25
Distributions to shareholders:
Net realized gains	—	—	—	(0.38)	(0.79)	(1.05)
Total distributions	—	—	—	(0.38)	(0.79)	(1.05)
Net asset value, end of period	$ 26.86	$ 26.95	$ 37.94	$ 36.67	$ 84.40	$ 53.70
Market value, end of period	$ 26.84	$ 26.95	$ 38.00	$ 36.61	$ 84.35	$ 53.70
Total Return at Net Asset Value(2)	(0.35)%	(28.97)%	3.46%	(56.27)%	58.48%	60.41%
Total Return at Market Value(2)	(0.41)%	(29.08)%	3.80%	(56.32)%	58.39%	60.05%
Ratios/Supplemental Data:
Net assets, end of period (000’s omitted)	$1,183,026	$1,463,402	$2,496,662	$2,780,026	$8,588,014	$1,589,856
Ratio to average net assets of:
Expenses	0.75%(3)	0.75%	0.75%	0.75%	0.75%	0.75%
Net investment loss	(0.87)%(3)	(0.71)%	(0.70)%	(0.62)%	(0.28)%	(0.73)%
Portfolio turnover rate(4)	20%	26%	28%	51%	45%	50%

(1) Based on average daily shares outstanding.

(2) Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period at net asset value. Market value total return is calculated assuming an initial investment made at the market value at the beginning of the period, reinvestment of all dividends, and distributions at market value during the period, and sale at the market value on the last day of the period. Market returns are based on the trade price at which shares are bought and sold on the Cboe BZX Exchange, Inc. using the last trade price. Total return calculated for a period of less than one year is not annualized.

(3) Annualized.

(4) Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

	Six Months Ended January 31, 2025 (Unaudited)	Year Ended July 31, 2024	Year Ended July 31, 2023	Year Ended July 31, 2022	Year Ended July 31, 2021	Year Ended July 31, 2020
Per Share Data:
Net asset value, beginning of period	$ 56.56	$ 58.83	$ 56.11	$ 81.12	$ 52.69	$ 33.05
Net investment loss(1)	(0.10)	(0.13)	(0.16)	(0.30)	(0.33)	(0.13)
Net realized and unrealized gain (loss) on investments	25.51	(2.14)	2.88	(24.10)	29.42	19.77
Total gain (loss) from investment operations	25.41	(2.27)	2.72	(24.40)	29.09	19.64
Distributions to shareholders:
Net realized gains	—	—	—	(0.61)	(0.66)	—
Total distributions	—	—	—	(0.61)	(0.66)	—
Net asset value, end of period	$ 81.97	$ 56.56	$ 58.83	$ 56.11	$ 81.12	$ 52.69
Market value, end of period	$ 82.00	$ 56.53	$ 58.86	$ 56.07	$ 81.18	$ 52.78
Total Return at Net Asset Value(2)	44.93%	(3.86)%	4.85%	(30.27)%	55.31%	59.43%
Total Return at Market Value(2)	45.06%	(3.96)%	4.98%	(30.38)%	55.17%	59.65%
Ratios/Supplemental Data:
Net assets, end of period (000’s omitted)	$1,012,397	$791,820	$1,170,658	$1,211,939	$2,806,640	$447,887
Ratio to average net assets of:
Expenses	0.75%(3)	0.75%	0.75%	0.75%	0.75%	0.75%
Net investment loss	(0.31)%(3)	(0.25)%	(0.32)%	(0.42)%	(0.41)%	(0.34)%
Portfolio turnover rate(4)	14%	20%	21%	54%	86%	71%

(1) Based on average daily shares outstanding.

(3) Annualized.

(4) Portfolio turnover rate is not annualized and excludes the value of portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares.

Schedule of Investments		1
ARK Genomic Revolution ETF		1
ARK Autonomous Technology & Robotics ETF		3
ARK Innovation ETF		5
ARK Next Generation Internet ETF (consolidated)		7
ARK Fintech Innovation ETF (consolidated)		9
ARK Space Exploration & Innovation ETF		11
The 3D Printing ETF		13
ARK Israel Innovative Technology ETF		15
Statements of Assets and Liabilities		17
Statements of Operations		19
Statements of Changes in Net Assets		21
Financial Highlights		25
Notes to Financial Statements		33
Supplemental Information		39
Risks Involved with Investing in the Funds		40

Schedule of Investments (continued) ARK Genomic Revolution ETF
January 31, 2025 (Unaudited)

Schedule of Investments ARK Autonomous Technology & Robotics ETF
January 31, 2025 (Unaudited)

Schedule of Investments ARK Innovation ETF
January 31, 2025 (Unaudited)

Schedule of Investments ARK Next Generation Internet ETF (consolidated)
January 31, 2025 (Unaudited)

Schedule of Investments ARK Fintech Innovation ETF (consolidated)
January 31, 2025 (Unaudited)

Value ($) at 7/31/2024(a)	Purchases Cost ($)	Sales Proceeds ($)	Net Realized Gain/(Loss) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in affiliated securities ($)	Net Change in Unrealized Appreciation (Depreciation) on investments in non-affiliated securities ($)	Affiliated Dividend Income ($)	Number of Shares at 1/31/2025	Value ($) at 1/31/2025(a)
Financial Services — 6.8%
3iQ Ether Staking ETF
—	13,101,357	(1,680,555)	(118,340)	252,468	—	—	886,193	11,554,930
ARK 21Shares Bitcoin ETF
41,050,779	462,420	—	—	22,993,580	—	—	636,601	64,506,779
$ 41,050,779	$13,563,777	$(1,680,555)	$(118,340)	$23,246,048	$ —	$ —	1,522,794	$76,061,709

Schedule of Investments The 3D Printing ETF
January 31, 2025 (Unaudited)

Schedule of Investments (continued) The 3D Printing ETF
January 31, 2025 (Unaudited)

Schedule of Investments ARK Israel Innovative Technology ETF
January 31, 2025 (Unaudited)

Table of Contents

Schedule of Investments (concluded) ARK Israel Innovative Technology ETF
January 31, 2025 (Unaudited)

Statements of Assets and Liabilities (concluded)
January 31, 2025 (Unaudited)

Statements of Operations
For the Six Months Ended January 31, 2025 (Unaudited)

Statements of Operations (concluded)
For the Six Months Ended January 31, 2025 (Unaudited)