Simplify

Health

Care

ETF

Schedule

of

Investments

September

30,

2023

(Unaudited)

1

Shares

Value

Common

Stocks

–

97.1%

Consumer,

Non-cyclical

–

93.7%

Abbott

Laboratories

............................................................

4,243

$

410,935‌

AbbVie,

Inc.

..................................................................

17,122

2,552,205‌

ACADIA

Pharmaceuticals,

Inc.*

..................................................

1,340

27,926‌

Amedisys,

Inc.*

...............................................................

708

66,127‌

Amgen,

Inc.

..................................................................

13,522

3,634,173‌

Argenx

SE,

ADR*

.............................................................

3,038

1,493,572‌

AtriCure,

Inc.*

................................................................

11,519

504,532‌

Baxter

International,

Inc.

........................................................

1,689

63,743‌

Becton

Dickinson

&

Co.

........................................................

5,695

1,472,328‌

Biogen,

Inc.*

.................................................................

158

40,608‌

Bio-Techne

Corp.

.............................................................

4,576

311,488‌

Boston

Scientific

Corp.*

........................................................

61,116

3,226,925‌

Cigna

Corp.

(The)

.............................................................

9,107

2,605,239‌

Cooper

Cos.,

Inc.

(The)

.........................................................

751

238,825‌

Danaher

Corp.

................................................................

637

158,040‌

Dexcom,

Inc.*

................................................................

2,321

216,549‌

Edwards

Lifesciences

Corp.*

....................................................

859

59,511‌

Eli

Lilly

&

Co.

.................................................................

4,915

2,639,994‌

Embecta

Corp.

...............................................................

695

10,460‌

Establishment

Labs

Holdings,

Inc.*

...............................................

12,733

624,808‌

Exact

Sciences

Corp.*

.........................................................

9,635

657,300‌

Fulcrum

Therapeutics,

Inc.*

.....................................................

105,519

468,504‌

Gilead

Sciences,

Inc.

..........................................................

17,974

1,346,972‌

HCA

Healthcare,

Inc.

...........................................................

711

174,892‌

Henry

Schein,

Inc.*

............................................................

1,760

130,680‌

Humana,

Inc.

.................................................................

1,795

873,303‌

IDEXX

Laboratories,

Inc.*

.......................................................

1,411

616,988‌

Illumina,

Inc.*

.................................................................

435

59,717‌

Intuitive

Surgical,

Inc.*

..........................................................

7,421

2,169,084‌

IQVIA

Holdings,

Inc.*

...........................................................

1,960

385,630‌

Johnson

&

Johnson

............................................................

16,165

2,517,699‌

Lantheus

Holdings,

Inc.*

........................................................

2,184

151,744‌

LivaNova

PLC*

...............................................................

4,301

227,437‌

Medtronic

PLC

...............................................................

29,466

2,308,956‌

Merck

&

Co.,

Inc.

..............................................................

18,787

1,934,122‌

Penumbra,

Inc.*

..............................................................

120

29,029‌

Pfizer,

Inc.

...................................................................

1,322

43,851‌

Quanterix

Corp.*

..............................................................

23,718

643,707‌

QuidelOrtho

Corp.*

............................................................

3,874

282,957‌

Regeneron

Pharmaceuticals,

Inc.*

................................................

4,302

3,540,374‌

Revvity,

Inc.

..................................................................

2,395

265,126‌

Sanofi,

ADR

..................................................................

59,358

3,183,963‌

Stryker

Corp.

.................................................................

4,434

1,211,679‌

Syndax

Pharmaceuticals,

Inc.*

...................................................

12,665

183,896‌

Tenet

Healthcare

Corp.*

........................................................

2,331

153,590‌

Thermo

Fisher

Scientific,

Inc.

....................................................

1,715

868,082‌

UnitedHealth

Group,

Inc.

........................................................

4,785

2,412,549‌

Vertex

Pharmaceuticals,

Inc.*

....................................................

7,425

2,581,969‌

Zimmer

Biomet

Holdings,

Inc.

....................................................

15,179

1,703,387‌

Simplify

Health

Care

ETF

Schedule

of

Investments

(Continued)

September

30,

2023

(Unaudited)

2

Shares

Value

Common

Stocks

(continued)

Consumer,

Non-cyclical

(continued)

Zoetis,

Inc.

...................................................................

1,427

$

248,269‌

51,733,444‌

Industrial

–

3.0%

Agilent

Technologies,

Inc.

.......................................................

828

92,587‌

PureCycle

Technologies,

Inc.*

...................................................

283,945

1,592,931‌

1,685,518‌

Technology

–

0.4%

Veeva

Systems,

Inc.,

Class

A*

...................................................

968

196,940‌

Total

Common

Stocks

(Cost

$55,925,825)

........................................................

53,615,902‌

Money

Market

Funds

–

2.9%

Fidelity

Investments

Money

Market

Treasury

Only

Portfolio

-

Class

I,

5.20%(a)

(Cost

$1,606,018)

...........................................................

1,606,018

1,606,018‌

Total

Investments

–

100.0%

(Cost

$57,531,843)

..........................................................................

$

55,221,920‌

Liabilities

in

Excess

of

Other

Assets

–

(0.0)%†

......................................................

(2,320‌)

Net

Assets

–

100.0%

..........................................................................

$

55,219,600‌

*

Non

Income

Producing

†

Less

than

0.05%

(a)

Rate

shown

reflects

the

7-day

yield

as

of

September

30,

2023.

ADR

:

American

Depositary

Receipt

Summary

of

Investment

Type

Industry

%

of

Net

Assets

Common

Stocks

.................................................................................

97.1‌%

Money

Market

Funds

.............................................................................

2.9‌%

Total

Investments

................................................................................

100.0‌%

Liabilities

in

Excess

of

Other

Assets

..................................................................

(0.0‌)%†

Net

Assets

.....................................................................................

100.0‌%