Schedule of Investments
ARK Fintech Innovation ETF
April 30, 2022 (Unaudited)
| Investments | Shares | Value | ||||||
| COMMON STOCKS–99.3% | ||||||||
| Banks - 6.5% | ||||||||
| NU Holdings Ltd., Class A (Brazil)* | 3,238,438 | $ | 19,463,012 | |||||
| Silvergate Capital Corp., Class A* | 437,725 | 51,196,316 | ||||||
| TCS Group Holding PLC, Class Reg S (Russia)*(a) | 607,059 | 6,071 | ||||||
| Total Banks | 70,665,399 | |||||||
| Capital Markets - 14.2% | ||||||||
| Coinbase Global, Inc., Class A* | 834,679 | 94,076,670 | ||||||
| Intercontinental Exchange, Inc. | 116,078 | 13,442,993 | ||||||
| Robinhood Markets, Inc., Class A* | 4,702,938 | 46,112,307 | ||||||
| Total Capital Markets | 153,631,970 | |||||||
| Consumer Finance - 1.2% | ||||||||
| Kaspi.KZ JSC (Kazakhstan)(a) | 206,540 | 13,425,100 | ||||||
| Entertainment - 4.6% | ||||||||
| Sea Ltd. (Taiwan)*(b) | 598,651 | 49,544,357 | ||||||
| Health Care Technology - 2.8% | ||||||||
| Teladoc Health, Inc.* | 898,202 | 30,323,300 | ||||||
| Hotels Restaurants & Leisure - 2.9% | ||||||||
| DraftKings, Inc., Class A* | 2,270,295 | 31,057,636 | ||||||
| Insurance - 4.9% | ||||||||
| Discovery Ltd. (South Africa)* | 5,497,666 | 53,004,567 | ||||||
| Interactive Media & Services - 2.9% | ||||||||
| Twitter, Inc.* | 293,677 | 14,396,046 | ||||||
| Z Holdings Corp. (Japan) | 4,447,684 | 17,636,511 | ||||||
| Total Interactive Media & Services | 32,032,557 | |||||||
| Internet & Direct Marketing Retail - 10.4% | ||||||||
| Etsy, Inc.* | 114,919 | 10,709,302 | ||||||
| Farfetch Ltd., Class A (United Kingdom)* | 718,598 | 8,048,297 | ||||||
| Global-e Online Ltd. (Israel)* | 642,293 | 14,477,284 | ||||||
| JD.com, Inc. (China)*(b) | 348,309 | 21,476,733 | ||||||
| MercadoLibre, Inc. (Brazil)* | 59,419 | 57,852,121 | ||||||
| Total Internet & Direct Marketing Retail | 112,563,737 | |||||||
| IT Services - 36.3% | ||||||||
| Adyen NV (Netherlands)*(c) | 29,422 | 50,375,991 | ||||||
| Block, Inc.* | 1,229,874 | 122,421,658 | ||||||
| Shopify, Inc., Class A (Canada)* | 212,106 | 90,531,083 | ||||||
| StoneCo Ltd., Class A (Brazil)* | 2,603,693 | 24,526,788 | ||||||
| Toast, Inc., Class A* | 1,430,087 | 26,642,521 | ||||||
| Twilio, Inc., Class A* | 713,340 | 79,765,679 | ||||||
| Total IT Services | 394,263,720 | |||||||
| Real Estate Management & Development - 3.7% | ||||||||
| Zillow Group, Inc., Class C* | 1,016,789 | 40,488,538 | ||||||
| Software - 8.9% | ||||||||
| Bill.com Holdings, Inc.* | 153,431 | 26,192,206 | ||||||
| Intuit, Inc. | 36,749 | 15,388,644 | ||||||
| UiPath, Inc., Class A* | 3,078,464 | 54,889,013 | ||||||
| Total Software | 96,469,863 | |||||||
| Total Common Stocks | ||||||||
| (Cost $2,378,984,841) | 1,077,470,744 | |||||||
| MONEY MARKET FUND–0.2% | ||||||||
| Dreyfus Government Cash Management Fund, Institutional Shares, 0.24% (d) | ||||||||
| (Cost $2,055,121) | 2,055,121 | 2,055,121 | ||||||
| Total Investments–99.5% | ||||||||
| (Cost $2,381,039,962) | $ | 1,079,525,865 | ||||||
| Other Assets in Excess of Liabilities–0.5% | 4,895,848 | |||||||
| Net Assets–100.0% | $ | 1,084,421,713 | ||||||
Schedule of Investments (continued)
ARK Fintech Innovation ETF
April 30, 2022 (Unaudited)
| * | Non-income producing security |
| (a) | Global Depositary Receipt |
| (b) | American Depositary Receipt |
| (c) | 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) | Rate shown represents annualized 7-day yield as of April 30, 2022. |
|
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, 2022, based upon the three levels defined above: | ||||
| ARK Fintech Innovation ETF | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Assets | ||||||||||||||||
| Common Stocks‡ | $ | 1,077,464,673 | $ | 6,071 | $ | – | $ | 1,077,470,744 | ||||||||
| Money Market Fund | 2,055,121 | – | – | 2,055,121 | ||||||||||||
| Total | $ | 1,079,519,794 | $ | 6,071 | $ | – | $ | 1,079,525,865 | ||||||||
| ‡ | Please refer to the Schedule of Investments to view securities segregated by industry type. |