Schedule of Investments

ARK Next Generation Internet ETF

April 30, 2021 (Unaudited)

Investments	Shares		Value
COMMON STOCKS–94.6%
Automobiles - 10.6%
Tesla, Inc.*		990,327	$	702,577,587
Banks - 0.1%
Silvergate Capital Corp., Class A*		53,775		5,765,755
Biotechnology - 1.0%
Veracyte, Inc.*		1,362,284		67,773,629
Capital Markets - 3.9%
Coinbase Global, Inc., Class A*		625,334		186,124,411
Intercontinental Exchange, Inc.		605,256		71,244,684
Total Capital Markets				257,369,095
Consumer Finance - 1.4%
LendingClub Corp.*		4,534,752		69,789,833
LendingTree, Inc.*		106,848		22,063,044
Total Consumer Finance				91,852,877
Diversified Consumer Services - 0.9%
2U, Inc.*		1,558,586		61,174,500
Entertainment - 15.5%
HUYA, Inc. (China)*(a)		3,716,911		65,491,972
Netflix, Inc.*		179,067		91,945,532
Nintendo Co. Ltd. (Japan)(a)		818,358		58,831,757
ROBLOX Corp., Class A*		726,576		54,166,241
Roku, Inc.*		644,727		221,122,019
Sea Ltd. (Taiwan)*(a)		661,285		167,000,914
Skillz, Inc.*		6,786,918		118,906,803
Spotify Technology SA*		989,997		249,598,044
Total Entertainment				1,027,063,282
Health Care Technology - 4.6%
Teladoc Health, Inc.*		1,767,059		304,552,619
Hotels, Restaurants & Leisure - 1.6%
DraftKings, Inc., Class A*		1,882,777		106,678,145
Interactive Media & Services - 10.7%
Baidu, Inc. (China)*(a)		518,003		108,951,571
Pinterest, Inc., Class A*		1,082,039		71,814,928
Snap, Inc., Class A*		1,239,056		76,598,442
Tencent Holdings Ltd. (China)(a)		1,327,103		105,717,025
Twitter, Inc.*		3,371,023		186,147,890
Zillow Group, Inc., Class C*		1,261,506		164,147,161
Total Interactive Media & Services				713,377,017
Internet & Direct Marketing Retail - 5.4%
JD.com, Inc. (China)*(a)		2,183,007		168,877,422
MercadoLibre, Inc. (Argentina)*		37,993		59,686,243
Pinduoduo, Inc. (China)*(a)		950,928		127,357,787
Total Internet & Direct Marketing Retail				355,921,452
IT Services - 15.6%
Adyen NV (Netherlands)*(a)		1,653,697		81,527,262
Fastly, Inc., Class A*		1,369,212		87,451,570
Okta, Inc.*		107,725		29,053,432
PayPal Holdings, Inc.*		368,375		96,621,079
Shopify, Inc., Class A (Canada)*		240,547		284,449,233
Snowflake, Inc., Class A*		98		22,696
Square, Inc., Class A*		1,216,846		297,908,238
Twilio, Inc., Class A*		441,187		162,268,579
Total IT Services				1,039,302,089
Leisure Products - 2.1%
Peloton Interactive, Inc., Class A*		1,388,908		136,599,102
Real Estate Management & Development - 3.3%
KE Holdings, Inc. (China)*(a)		1,702,977		88,639,953
Opendoor Technologies, Inc.*		6,534,196		132,448,153
Total Real Estate Management & Development				221,088,106
Semiconductors & Semiconductor Equipment - 0.0%(b)
NVIDIA Corp.		1,098		659,217
Software - 16.3%
Agora, Inc. (China)*(a)		1,116,352		54,265,871
Cloudflare, Inc., Class A*		900,165		76,279,982
Crowdstrike Holdings, Inc., Class A*		319,130		66,541,796
DocuSign, Inc.*		342,022		76,250,385
HubSpot, Inc.*		128,878		67,847,823
PagerDuty, Inc.*		1,774,317		75,337,500
Palantir Technologies, Inc., Class A*		4,961,656		114,316,554
Trade Desk, Inc. (The), Class A*		227,927		166,229,440
UiPath, Inc., Class A*		426,145		30,682,440
Unity Software, Inc.*		1,717,517		174,465,377
Zoom Video Communications, Inc., Class A*		553,857		176,996,082
Total Software				1,079,213,250
Technology Hardware, Storage & Peripherals - 1.6%
Nano Dimension Ltd. (Israel)*(a)		5,383,591		39,515,558
Pure Storage, Inc., Class A*		3,395,505		68,657,111
Total Technology Hardware, Storage & Peripherals				108,172,669

Total Common Stocks
(Cost $5,909,794,589)			6,279,140,391
UNIT TRUST–5.4%
Financials - 5.4%
Grayscale Bitcoin Trust BTC*
(Cost $201,093,462)	7,611,861		356,615,688
MONEY MARKET FUND–0.1%
Dreyfus Government Cash Management Fund, Institutional Shares, 0.03% (c)
(Cost $8,270,167)	8,270,167		8,270,167
Total Investments–100.1%
(Cost $6,119,158,218)			6,644,026,246
Liabilities in Excess of Other Assets–(0.1)%			(​5,413,798	)
Net Assets–100.0%		$	6,638,612,448

Schedule of Investments (continued)

ARK Next Generation Internet ETF

April 30, 2021 (Unaudited)

*	Non-income producing security
(a)	American Depositary Receipt
(b)	Less than 0.05%
(c)	Rate shown represents annualized 7-day yield as of April 30, 2021.

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 April 30, 2021, based upon the three levels defined above:

ARK Next Generation Internet ETF	Level 1		Level 2		Level 3		Total
Assets
Common Stocks‡	$	6,279,140,391	$	–	$	–	$	6,279,140,391
Unit Trust‡		356,615,688		–		–		356,615,688
Money Market Fund		8,270,167		–		–		8,270,167
Total	$	6,644,026,246	$	–	$	–	$	6,644,026,246

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