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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Croghan Bancshares Inc (QB) | USOTC:CHBH | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 46.27 | 46.50 | 49.00 | 0.00 | 14:30:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-22175
ALPS ETF TRUST
(Exact name of registrant as specified in charter)
1290 Broadway, Suite 1100, Denver, Colorado 80203
(Address of principal executive offices) (Zip code)
Erin D. Nelson
ALPS ETF Trust
1290 Broadway, Suite 1100
Denver, Colorado 80203
(Name and address of agent for service)
Registrants telephone number, including area code: (303) 623-2577
Date of fiscal year end: November 30
Date of reporting period: June 1, 2013 August 31, 2013
Item 1. Schedule of Investments.
COHEN & STEERS GLOBAL REALTY MAJORS ETF | SCHEDULE OF INVESTMENTS | |
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCKS (99.58%) |
||||||||
Australia (7.67%) |
||||||||
Dexus Property Group |
809,484 | $ | 742,097 | |||||
Goodman Group |
249,053 | 1,026,333 | ||||||
GPT Group |
269,627 | 851,936 | ||||||
Mirvac Group |
601,354 | 880,464 | ||||||
Stockland Trust Group |
380,005 | 1,261,576 | ||||||
Westfield Group |
333,483 | 3,288,734 | ||||||
|
|
|||||||
8,051,140 | ||||||||
|
|
|||||||
Brazil (0.56%) |
||||||||
BR Malls Participacoes SA |
76,900 | 584,336 | ||||||
|
|
|||||||
Canada (1.86%) |
||||||||
Boardwalk Real Estate Investment Trust |
6,586 | 350,966 | ||||||
Dundee Real Estate Investment Trust |
17,660 | 489,578 | ||||||
RioCan Real Estate Investment Trust |
49,758 | 1,112,504 | ||||||
|
|
|||||||
1,953,048 | ||||||||
|
|
|||||||
France (4.93%) |
||||||||
Gecina SA |
4,405 | 524,026 | ||||||
ICADE |
5,324 | 463,914 | ||||||
Klepierre |
16,409 | 650,826 | ||||||
Unibail-Rodamco |
15,737 | 3,537,877 | ||||||
|
|
|||||||
5,176,643 | ||||||||
|
|
|||||||
Germany (0.77%) |
||||||||
Deutsche EuroShop AG |
7,679 | 313,704 | ||||||
Deutsche Wohnen AG |
27,923 | 489,722 | ||||||
|
|
|||||||
803,426 | ||||||||
|
|
|||||||
Hong Kong (12.60%) |
||||||||
China Overseas Land & Investment, Ltd. |
633,000 | 1,885,666 | ||||||
China Resources Land, Ltd. |
311,500 | 851,614 | ||||||
Hang Lung Properties, Ltd. |
316,000 | 988,207 | ||||||
Hongkong Land Holdings, Ltd. |
194,600 | 1,257,116 | ||||||
The Link Real Estate Investment Trust |
377,664 | 1,731,387 | ||||||
Sino Land Co., Ltd. |
480,000 | 644,997 | ||||||
Sun Hung Kai Properties, Ltd. |
256,000 | 3,321,138 | ||||||
Swire Properties, Ltd. |
176,400 | 493,637 | ||||||
The Wharf Holdings, Ltd. |
249,700 | 2,052,805 | ||||||
|
|
|||||||
13,226,567 | ||||||||
|
|
|||||||
Japan (14.29%) |
||||||||
Japan Real Estate Investment Corp. |
98 | 1,044,029 | ||||||
Japan Retail Fund Investment Corp. |
337 | 619,873 | ||||||
Mitsubishi Estate Co., Ltd. |
164,000 | 4,276,009 | ||||||
Mitsui Fudosan Co., Ltd. |
137,000 | 4,332,485 | ||||||
Nippon Building Fund, Inc. |
114 | 1,242,349 | ||||||
Sumitomo Realty & Development Co., Ltd. |
79,000 | 3,483,933 | ||||||
|
|
|||||||
14,998,678 | ||||||||
|
|
Security Description | Shares | Value | ||||||
Netherlands (0.60%) |
||||||||
Corio N.V. |
16,078 | $ | 631,322 | |||||
|
|
|||||||
Singapore (3.48%) |
||||||||
Ascendas Real Estate Investment Trust |
324,066 | 553,829 | ||||||
CapitaLand, Ltd. |
421,000 | 1,006,624 | ||||||
CapitaMall Trust |
423,347 | 617,298 | ||||||
City Developments, Ltd. |
74,000 | 578,379 | ||||||
Global Logistic Properties, Ltd. |
424,000 | 897,460 | ||||||
|
|
|||||||
3,653,590 | ||||||||
|
|
|||||||
Sweden (0.38%) |
||||||||
Castellum AB |
28,775 | 394,023 | ||||||
|
|
|||||||
Switzerland (0.53%) |
||||||||
PSP Swiss Property AG |
6,441 | 553,450 | ||||||
|
|
|||||||
United Kingdom (5.85%) |
||||||||
British Land Co. Plc |
164,685 | 1,424,077 | ||||||
Derwent London Plc |
14,364 | 515,536 | ||||||
Great Portland Estates Plc |
57,834 | 478,148 | ||||||
Hammerson Plc |
117,225 | 878,338 | ||||||
Intu Properties Plc |
112,242 | 532,084 | ||||||
Land Securities Group Plc |
129,115 | 1,766,780 | ||||||
Segro Plc |
121,684 | 550,632 | ||||||
|
|
|||||||
6,145,595 | ||||||||
|
|
|||||||
United States (46.06%) |
||||||||
Alexandria Real Estate Equities, Inc. |
11,579 | 714,077 | ||||||
American Campus Communities, Inc. |
17,234 | 574,065 | ||||||
AvalonBay Communities, Inc. |
20,052 | 2,484,443 | ||||||
Boston Properties, Inc. |
25,120 | 2,574,800 | ||||||
Brookfield Office Properties, Inc. |
42,111 | 675,461 | ||||||
Camden Property Trust |
14,038 | 867,408 | ||||||
Digital Realty Trust, Inc. |
21,076 | 1,171,826 | ||||||
Douglas Emmett, Inc. |
22,114 | 510,833 | ||||||
Equity Residential |
52,922 | 2,746,123 | ||||||
Essex Property Trust, Inc. |
6,289 | 901,277 | ||||||
Federal Realty Investment Trust |
10,830 | 1,053,867 | ||||||
General Growth Properties, Inc. |
74,417 | 1,427,318 | ||||||
HCP REIT, Inc. |
75,043 | 3,056,501 | ||||||
Health Care REIT, Inc. |
46,978 | 2,886,328 | ||||||
Host Hotels & Resorts, Inc. |
123,035 | 2,095,286 | ||||||
Kimco Realty Corp. |
67,501 | 1,352,045 | ||||||
Liberty Property Trust |
23,234 | 803,896 | ||||||
The Macerich Co. |
22,648 | 1,274,630 | ||||||
ProLogis |
82,284 | 2,899,688 | ||||||
Public Storage |
23,802 | 3,633,851 | ||||||
Realty Income Corp. |
32,293 | 1,275,574 | ||||||
Regency Centers Corp. |
15,126 | 719,241 | ||||||
Simon Property Group, Inc. |
27,955 | 4,071,087 | ||||||
SL Green Realty Corp. |
15,112 | 1,317,615 | ||||||
Tanger Factory Outlet Centers |
15,748 | 485,826 | ||||||
UDR, Inc. |
41,877 | 946,001 |
Security Description | Shares | Value | ||||||
United States (continued) |
||||||||
Ventas, Inc. |
48,423 | $ | 3,014,816 | |||||
Vornado Realty Trust |
28,129 | 2,286,888 | ||||||
Weingarten Realty Investors |
18,671 | 536,044 | ||||||
|
|
|||||||
48,356,815 | ||||||||
|
|
|||||||
TOTAL COMMON STOCKS
|
104,528,633 | |||||||
|
|
(a) | Less than 0.0005% |
Common Abbreviations:
AB - | Aktiebolag is the Swedish equivalent of the term corporation. | |
AG - | Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders. | |
Ltd. - | Limited. | |
N.V. - | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | |
Plc - | Public Limited Co. | |
REIT - | Real Estate Investment Trust. | |
SA - | Generally designated corporations in various countries, mostly those employing the civil law. |
See Notes to Quarterly Statement of Investments.
ALPS EQUAL SECTOR WEIGHT ETF | STATEMENT OF INVESTMENTS |
August 31, 2013 (Unaudited)
(a) | Less than 0.0005% |
Common Abbreviations:
SPDR ® - Standard & Poors Depositary Receipts
See Notes to Quarterly Statement of Investments.
JEFFERIES | TR/J CRB GLOBAL COMMODITY
EQUITY INDEX FUND
STATEMENT OF INVESTMENTS
August 31, 2013 (Unaudited)
Security Description | Shares | Value | ||||||
COMMON STOCKS (99.41%) |
|
|||||||
Australia (1.83%) |
||||||||
Fortescue Metals Group, Ltd. |
33,192 | $ | 127,920 | |||||
Iluka Resources, Ltd. |
8,904 | 85,194 | ||||||
Incitec Pivot, Ltd. |
131,818 | 303,871 | ||||||
Newcrest Mining, Ltd. |
31,563 | 372,509 | ||||||
Nufarm, Ltd. |
18,158 | 75,959 | ||||||
Woodside Petroleum, Ltd. |
5,676 | 192,883 | ||||||
|
|
|||||||
1,158,336 | ||||||||
|
|
|||||||
Bermuda (1.37%) |
||||||||
Bunge, Ltd. |
11,100 | 841,158 | ||||||
Sinofert Holdings, Ltd. |
170,000 | 26,527 | ||||||
|
|
|||||||
867,685 | ||||||||
|
|
|||||||
Brazil (2.85%) |
||||||||
Companhia Siderurgica Nacional SA, ADR |
32,747 | 116,907 | ||||||
Gerdau SA, ADR |
25,755 | 184,921 | ||||||
Petroleo Brasileiro SA, ADR |
33,152 | 448,215 | ||||||
Vale SA, ADR |
73,184 | 1,054,581 | ||||||
|
|
|||||||
1,804,624 | ||||||||
|
|
|||||||
Canada (13.60%) |
||||||||
Agnico-Eagle Mines, Ltd. |
7,164 | 215,947 | ||||||
Agrium, Inc. |
12,089 | 1,034,101 | ||||||
Barrick Gold Corp. |
41,508 | 792,487 | ||||||
Cameco Corp. |
8,902 | 169,453 | ||||||
Canadian Natural Resources, Ltd. |
9,355 | 285,455 | ||||||
Eldorado Gold Corp. |
29,441 | 250,722 | ||||||
EnCana Corp. |
6,524 | 111,428 | ||||||
First Quantum Minerals, Ltd. |
13,079 | 217,176 | ||||||
Goldcorp, Inc. |
33,891 | 1,000,674 | ||||||
IAMGOLD Corp. |
15,407 | 92,445 | ||||||
Kinross Gold Corp. |
47,384 | 261,370 | ||||||
New Gold, Inc. * |
19,252 | 129,772 | ||||||
Osisko Mining Corp. * |
18,504 | 91,879 | ||||||
Pan American Silver Corp. |
6,232 | 76,029 | ||||||
Potash Corp. of Saskatchewan, Inc. |
70,167 | 2,075,099 | ||||||
Silver Wheaton Corp. |
14,737 | 389,517 | ||||||
Suncor Energy, Inc. |
13,380 | 450,954 | ||||||
Teck Resources, Ltd., Class B |
10,504 | 264,470 | ||||||
TransCanada Corp. |
6,268 | 273,202 | ||||||
Turquoise Hill Resources, Ltd. * |
15,496 | 80,621 | ||||||
Yamana Gold, Inc. |
31,138 | 355,931 | ||||||
|
|
|||||||
8,618,732 | ||||||||
|
|
|||||||
Cayman Islands (0.00%) (a) |
||||||||
Chaoda Modern Agriculture Holdings, Ltd. * |
348,000 | 449 | ||||||
|
|
Security Description | Shares | Value | ||||||
Chile (0.40%) |
||||||||
Sociedad Quimica y Minera de Chile SA, Sponsored ADR |
9,701 | $ | 251,353 | |||||
|
|
|||||||
China (1.00%) |
||||||||
China BlueChemical, Ltd., Class H |
134,000 | 70,331 | ||||||
China Petroleum & Chemical Corp., Class H |
212,137 | 152,925 | ||||||
China Shenhua Energy Co., Ltd., Class H |
30,216 | 93,908 | ||||||
Jiangxi Copper Co., Ltd., Class H |
29,000 | 55,872 | ||||||
PetroChina Co., Ltd., Class H |
186,119 | 202,573 | ||||||
Zijin Mining Group Co., Ltd.,
|
221,000 | 55,575 | ||||||
|
|
|||||||
631,184 | ||||||||
|
|
|||||||
France (1.59%) |
||||||||
Total SA |
18,211 | 1,008,834 | ||||||
|
|
|||||||
Germany (0.82%) |
||||||||
K+S AG |
14,037 | 340,707 | ||||||
ThyssenKrupp AG * |
8,380 | 176,155 | ||||||
|
|
|||||||
516,862 | ||||||||
|
|
|||||||
Hong Kong (0.57%) |
||||||||
China Agri-Industries Holdings, Ltd. |
170,000 | 79,799 | ||||||
CNOOC, Ltd. |
140,987 | 279,994 | ||||||
|
|
|||||||
359,793 | ||||||||
|
|
|||||||
India (0.73%) |
||||||||
Reliance Industries, Ltd., Sponsored GDR (b) |
14,376 | 361,700 | ||||||
Sterlite Industries India, Ltd., ADR |
16,637 | 99,822 | ||||||
|
|
|||||||
461,522 | ||||||||
|
|
|||||||
Israel (0.59%) |
||||||||
Israel Chemicals, Ltd. |
34,693 | 240,708 | ||||||
The Israel Corp., Ltd. * |
310 | 131,356 | ||||||
|
|
|||||||
372,064 | ||||||||
|
|
|||||||
Italy (0.81%) |
||||||||
Eni SpA |
22,508 | 514,040 | ||||||
|
|
|||||||
Japan (1.51%) |
||||||||
INPEX Corp. |
22 | 99,822 | ||||||
JFE Holdings, Inc. |
11,400 | 252,882 | ||||||
Kobe Steel, Ltd. * |
54,000 | 86,347 | ||||||
Nippon Steel & Sumitomo Metal Corp. |
182,000 | 519,020 | ||||||
|
|
|||||||
958,071 | ||||||||
|
|
|||||||
Jersey (1.11%) |
||||||||
Glencore International Plc |
75,048 | 354,951 | ||||||
Polymetal International |
6,800 | 79,614 | ||||||
Randgold Resources, Ltd. |
3,406 | 268,399 | ||||||
|
|
|||||||
702,964 | ||||||||
|
|
|||||||
Luxembourg (0.45%) |
||||||||
ArcelorMittal |
22,002 | 282,444 | ||||||
|
|
Security Description | Shares | Value | ||||||
Malaysia (1.26%) |
||||||||
Genting Plantations BHD |
16,900 | $ | 48,826 | |||||
IOI Corp., BHD |
227,900 | 374,659 | ||||||
Kuala Lumpur Kepong BHD |
32,020 | 209,779 | ||||||
PPB Group BHD |
40,700 | 165,290 | ||||||
|
|
|||||||
798,554 | ||||||||
|
|
|||||||
Mauritius (0.37%) |
||||||||
Golden Agri-Resources, Ltd. |
538,000 | 236,187 | ||||||
|
|
|||||||
Mexico (0.62%) |
||||||||
Grupo Mexico SAB de CV,
|
83,984 | 240,116 | ||||||
Industrias Penoles SAB de CV |
5,069 | 153,652 | ||||||
|
|
|||||||
393,768 | ||||||||
|
|
|||||||
Netherlands (1.94%) |
||||||||
Nutreco Holding N.V. |
5,624 | 264,614 | ||||||
Schlumberger, Ltd. |
11,895 | 962,781 | ||||||
|
|
|||||||
1,227,395 | ||||||||
|
|
|||||||
Norway (0.92%) |
||||||||
Norsk Hydro ASA |
17,700 | 71,264 | ||||||
Yara International ASA |
13,000 | 514,065 | ||||||
|
|
|||||||
585,329 | ||||||||
|
|
|||||||
Peru (0.20%) |
||||||||
Companhia de Minas Buenaventura SA, ADR |
10,259 | 129,571 | ||||||
|
|
|||||||
Russia (6.59%) |
||||||||
Gazprom OAO, ADR |
105,375 | 828,247 | ||||||
LUKOIL OAO, Sponsored ADR |
6,278 | 363,810 | ||||||
Mechel Steel Group, Sponsored ADR * |
10,769 | 31,122 | ||||||
MMC Norilsk Nickel JSC, ADR |
38,672 | 503,896 | ||||||
NovaTek OAO, Sponsored GDR (c) |
2,667 | 319,507 | ||||||
Phosagro OAO, GDR (c) |
31,485 | 290,292 | ||||||
Rosneft Oil Co., GDR (c) |
94,358 | 693,531 | ||||||
Severstal OAO, GDR (c) |
2,854 | 23,574 | ||||||
Uralkali, GDR (c) |
47,605 | 1,118,718 | ||||||
|
|
|||||||
4,172,697 | ||||||||
|
|
|||||||
Singapore (0.82%) |
||||||||
Olam International, Ltd. |
115,000 | 129,370 | ||||||
Wilmar International, Ltd. |
159,000 | 392,639 | ||||||
|
|
|||||||
522,009 | ||||||||
|
|
|||||||
South Africa (1.34%) |
||||||||
Anglo Platinum, Ltd. * |
2,108 | 84,011 | ||||||
AngloGold Ashanti, Ltd., Sponsored ADR |
14,728 | 196,913 | ||||||
Gold Fields, Ltd. |
26,913 | 141,116 | ||||||
Harmony Gold Mining Co., Ltd. |
6,913 | 25,987 | ||||||
Impala Platinum Holdings, Ltd. |
17,816 | 196,675 | ||||||
Kumba Iron Ore, Ltd. |
673 | 29,456 | ||||||
Sasol, Ltd. |
3,766 | 176,489 | ||||||
|
|
|||||||
850,647 | ||||||||
|
|
Security Description | Shares | Value | ||||||
South Korea (0.72%) |
||||||||
POSCO |
1,577 | $ | 458,162 | |||||
|
|
|||||||
Spain (0.31%) |
||||||||
Repsol YPF SA |
8,583 | 199,139 | ||||||
|
|
|||||||
Switzerland (4.91%) |
||||||||
Syngenta AG |
7,579 | 2,971,486 | ||||||
Transocean, Ltd. |
3,045 | 137,421 | ||||||
|
|
|||||||
3,108,907 | ||||||||
|
|
|||||||
Taiwan (0.52%) |
||||||||
China Steel Corp. |
238,638 | 201,759 | ||||||
Taiwan Fertilizer Co., Ltd. |
56,400 | 129,482 | ||||||
|
|
|||||||
331,241 | ||||||||
|
|
|||||||
United Kingdom (9.83%) |
||||||||
Anglo American Plc |
27,525 | 630,658 | ||||||
Antofagasta Plc |
7,818 | 103,587 | ||||||
BG Group Plc |
29,073 | 552,815 | ||||||
BHP Billiton Plc |
45,210 | 1,315,755 | ||||||
BP Plc |
168,509 | 1,165,193 | ||||||
Kazakhmys Plc |
4,064 | 18,988 | ||||||
Lonmin Plc * |
18,876 | 99,574 | ||||||
Rio Tinto Plc |
27,611 | 1,246,429 | ||||||
Royal Dutch Shell Plc, Class A |
33,752 | 1,092,458 | ||||||
|
|
|||||||
6,225,457 | ||||||||
|
|
|||||||
United States (39.83%) |
||||||||
AGCO Corp. |
7,340 | 415,150 | ||||||
Alcoa, Inc. |
23,975 | 184,607 | ||||||
Allegheny Technologies, Inc. |
2,195 | 58,628 | ||||||
Allied Nevada Gold Corp. * |
4,392 | 20,379 | ||||||
American Vanguard Corp. |
1,974 | 49,508 | ||||||
Anadarko Petroleum Corp. |
4,422 | 404,259 | ||||||
Apache Corp. |
3,459 | 296,367 | ||||||
Archer-Daniels-Midland Co. |
52,612 | 1,852,469 | ||||||
Baker Hughes, Inc. |
3,945 | 183,403 | ||||||
Cabot Oil & Gas Corp. |
3,600 | 140,868 | ||||||
Cameron International Corp. * |
2,144 | 121,758 | ||||||
CF Industries Holdings, Inc. |
4,806 | 914,774 | ||||||
Chesapeake Energy Corp. |
5,277 | 136,199 | ||||||
Chevron Corp. |
17,347 | 2,089,099 | ||||||
Cliffs Natural Resources, Inc. |
3,402 | 71,000 | ||||||
Coeur Mining, Inc. * |
4,184 | 60,417 | ||||||
ConocoPhillips |
10,852 | 719,488 | ||||||
Deere & Co. |
31,619 | 2,644,613 | ||||||
Detour Gold Corp. * |
5,627 | 62,184 | ||||||
Devon Energy Corp. |
3,419 | 195,191 | ||||||
Ensco Plc, Class A |
2,048 | 113,787 | ||||||
EOG Resources, Inc. |
2,405 | 377,705 | ||||||
Exxon Mobil Corp. |
39,723 | 3,462,257 | ||||||
Freeport-McMoRan Copper & Gold, Inc. |
22,958 | 693,791 | ||||||
Halliburton Co. |
7,747 | 371,856 | ||||||
Hecla Mining Co. |
10,462 | 35,780 |
Security Description | Shares | Value | ||||||
United States (39.83%)(continued) |
|
|||||||
Hess Corp. |
2,635 | $ | 197,230 | |||||
Ingredion, Inc. |
6,162 | 387,836 | ||||||
Intrepid Potash, Inc. |
4,711 | 58,605 | ||||||
Kinder Morgan, Inc. |
5,880 | 223,028 | ||||||
Marathon Oil Corp. |
6,260 | 215,532 | ||||||
Monsanto Co. |
43,285 | 4,237,169 | ||||||
The Mosaic Co. |
22,465 | 935,667 | ||||||
National Oilwell Varco, Inc. |
3,815 | 283,455 | ||||||
Newmont Mining Corp. |
20,407 | 648,330 | ||||||
Noble Energy, Inc. |
3,094 | 190,064 | ||||||
Nucor Corp. |
7,107 | 323,297 | ||||||
Occidental Petroleum Corp. |
7,150 | 630,702 | ||||||
Pioneer Natural Resources Co. |
1,170 | 204,715 | ||||||
Royal Gold, Inc. |
2,722 | 157,958 | ||||||
Southern Copper Corp. |
3,542 | 97,405 | ||||||
Southwestern Energy Co. * |
3,119 | 119,146 | ||||||
Spectra Energy Corp. |
5,895 | 195,183 | ||||||
United States Steel Corp. |
3,219 | 57,620 | ||||||
Valero Energy Corp. |
4,819 | 171,219 | ||||||
The Williams Co., Inc. |
6,033 | 218,636 | ||||||
|
|
|||||||
25,228,334 | ||||||||
|
|
|||||||
TOTAL COMMON STOCKS |
|
|||||||
(Cost $75,913,049) |
62,976,354 | |||||||
|
|
7 Day Yield | Shares | Value | ||||||
SHORT TERM INVESTMENTS (0.24%) |
|
|||||||
Dreyfus Treasury Prime Cash Management, Institutional
|
150,351 | 150,351 | ||||||
|
|
|||||||
TOTAL SHORT TERM INVESTMENTS |
|
|||||||
(Cost $150,351) |
150,351 | |||||||
|
|
|||||||
TOTAL INVESTMENTS (99.65%) |
|
|||||||
(Cost $76,063,400) |
$ | 63,126,705 | ||||||
NET OTHER ASSETS AND LIABILITIES (0.35%) |
|
219,074 | ||||||
|
|
|||||||
NET ASSETS (100.00%) |
|
$ | 63,345,779 | |||||
|
|
* | Non-income producing security. |
(a) | Less than 0.005% of Net Assets. |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At period end, the market value of this security restricted under Rule 144A was $361,700, representing 0.57% of the Funds net assets. |
(c) | These securities initially sold to other parties pursuant to Regulation S under the 1933 Act and subsequently resold to the Fund. At the period end, the aggregate market values of these securities were $2,445,622, representing 3.86% of the Funds net assets. |
(d) | Less than 0.0005%. |
Common Abbreviations:
ADR - |
American Depositary Receipt. | |
AG - |
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders. | |
ASA - |
Allmennaksjeselskap is the Norwegian term for public limited company. | |
BHD - |
Berhad (in Malaysia; equivalent to Public Limited Company). | |
GDR - |
Global Depository Receipt. | |
JSC - |
Joint Stock Company. | |
Ltd. - |
Limited. | |
N.V. - |
Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | |
OAO - |
Otkytoe Aktsionernoe Obshchestvo (open Joint Stock Corporation) is a Russian term for a stock-based corporation. | |
Plc - |
Public Limited Company. | |
SA - |
Generally designated corporations in various countries, mostly those employing the civil law. | |
SAB de CV A - |
A variable capital company. | |
SpA - |
Società Per Azioni is an Italian shared company. |
See Notes to Quarterly Statement of Investments.
Alerian MLP ETF |
STATEMENT OF INVESTMENTS |
|
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||||||
Master Limited Partnerships Shares (107.39%) |
||||||||||||
Gathering & Processing (21.80%) |
||||||||||||
DCP Midstream Partners LP |
3,090,786 | $ | 148,141,373 | |||||||||
MarkWest Energy Partners LP |
7,013,514 | 468,432,600 | ||||||||||
PVR Partners LP |
5,165,575 | 119,892,996 | ||||||||||
Targa Resources Partners LP |
4,782,470 | 233,671,484 | ||||||||||
Western Gas Partners LP |
3,289,577 | 194,545,584 | ||||||||||
Williams Partners LP |
6,136,968 | 302,736,631 | ||||||||||
|
|
|||||||||||
1,467,420,668 | ||||||||||||
|
|
|||||||||||
Natural Gas Pipelines (38.49%) |
||||||||||||
Atlas Pipeline Partners LP |
3,819,850 | 148,210,180 | ||||||||||
Boardwalk Pipeline Partners LP |
6,281,832 | 188,831,870 | ||||||||||
El Paso Pipeline Partners LP |
6,725,188 | 280,642,095 | ||||||||||
Energy Transfer Partners LP |
10,227,786 | 524,378,588 | ||||||||||
Enterprise Products Partners LP |
11,488,577 | 682,651,245 | ||||||||||
ONEOK Partners LP |
6,788,591 | 336,646,228 | ||||||||||
Regency Energy Partners LP |
7,764,741 | 209,880,949 | ||||||||||
Spectra Energy Partners LP |
2,457,144 | 102,413,762 | ||||||||||
TC Pipelines LP |
2,417,881 | 116,832,010 | ||||||||||
|
|
|||||||||||
2,590,486,927 | ||||||||||||
|
|
|||||||||||
Petroleum Transportation (47.10%) |
||||||||||||
Access Midstream Partners LP |
3,961,589 | 180,688,074 | ||||||||||
Buckeye Partners LP |
5,092,941 | 356,505,870 | ||||||||||
Enbridge Energy Partners LP |
11,102,127 | 331,065,427 | ||||||||||
Genesis Energy LP |
3,603,706 | 175,392,371 | ||||||||||
Kinder Morgan Energy Partners LP |
8,179,973 | 667,158,598 | ||||||||||
Magellan Midstream Partners LP |
9,758,345 | 529,487,800 | ||||||||||
NuStar Energy LP |
3,483,436 | 145,294,116 | ||||||||||
Plains All American Pipeline LP |
9,121,629 | 461,189,562 | ||||||||||
Sunoco Logistics Partners LP |
3,750,789 | 240,950,685 | ||||||||||
Tesoro Logistics LP |
1,548,006 | 82,973,122 | ||||||||||
|
|
|||||||||||
3,170,705,625 | ||||||||||||
|
|
|||||||||||
Total Master Limited Partnerships Shares
|
7,228,613,220 | |||||||||||
|
|
|||||||||||
7 Day Yield | Shares | Value | ||||||||||
Short Term Investments (0.12%)
|
||||||||||||
Dreyfus Treasury Prime Cash Management, Institutional Class |
0.000% (a) | 7,978,505 | $ | 7,978,505 | ||||||||
|
|
|||||||||||
Total Short Term Investments
|
7,978,505 | |||||||||||
|
|
|||||||||||
Total Investments (107.51%)
|
7,236,591,725 | |||||||||||
Net Liabilities Less Other Assets (-7.51%) |
(505,215,615) | |||||||||||
|
|
|||||||||||
Net Assets (100.00%) |
$ | 6,731,376,110 | ||||||||||
|
|
(a) Less | than 0.00005%. |
Common Abbreviations:
LP - Limited Partnerships.
See Notes to Quarterly Statement of Investments.
ALPS SECTOR DIVIDEND DOGS ETF |
STATEMENT OF INVESTMENTS |
|
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCK (99.32%) |
||||||||
Consumer Discretionary (10.65%) |
||||||||
Best Buy Co., Inc. |
258,738 | $ | 9,314,568 | |||||
Cablevision Systems Corp., Class A |
473,574 | 8,396,467 | ||||||
Gannett Co., Inc. |
278,166 | 6,701,019 | ||||||
H&R Block, Inc. |
242,848 | 6,777,888 | ||||||
Leggett & Platt, Inc. |
215,392 | 6,229,136 | ||||||
|
|
|||||||
Total Consumer Discretionary |
37,419,078 | |||||||
|
|
|||||||
Consumer Staples (9.56%) |
||||||||
Altria Group, Inc. |
195,431 | 6,621,202 | ||||||
Avon Products, Inc. |
304,167 | 6,013,382 | ||||||
Lorillard, Inc. |
158,362 | 6,698,713 | ||||||
Reynolds American, Inc. |
143,575 | 6,838,477 | ||||||
Safeway, Inc. |
285,431 | 7,392,663 | ||||||
|
|
|||||||
Total Consumer Staples |
33,564,437 | |||||||
|
|
|||||||
Energy (9.88%) |
||||||||
Chevron Corp. |
57,772 | 6,957,482 | ||||||
ConocoPhillips |
113,937 | 7,554,023 | ||||||
Diamond Offshore Drilling, Inc. |
103,476 | 6,625,568 | ||||||
Kinder Morgan, Inc. |
180,934 | 6,862,827 | ||||||
Spectra Energy Corp. |
202,453 | 6,703,219 | ||||||
|
|
|||||||
Total Energy |
34,703,119 | |||||||
|
|
|||||||
Financials (9.46%) |
||||||||
Cincinnati Financial Corp. |
150,580 | 6,878,494 | ||||||
CME Group, Inc. |
93,598 | 6,655,754 | ||||||
HCP, Inc., REIT |
151,269 | 6,161,186 | ||||||
Health Care REIT, Inc. |
103,179 | 6,339,318 | ||||||
Peoples United Financial, Inc. |
505,251 | 7,184,669 | ||||||
|
|
|||||||
Total Financials |
33,219,421 | |||||||
|
|
|||||||
Health Care (9.61%) |
||||||||
Bristol-Myers Squibb Co. |
148,514 | 6,191,549 | ||||||
Eli Lilly & Co. |
133,566 | 6,865,292 | ||||||
Johnson & Johnson |
81,908 | 7,077,670 | ||||||
Merck & Co., Inc. |
145,015 | 6,857,759 | ||||||
Pfizer, Inc. |
239,032 | 6,743,093 | ||||||
|
|
|||||||
Total Health Care |
33,735,363 | |||||||
|
|
|||||||
Industrials (10.90%) |
||||||||
Lockheed Martin Corp. |
64,580 | 7,905,884 | ||||||
Northrop Grumman Corp. |
83,896 | 7,741,084 | ||||||
Pitney Bowes, Inc. |
476,510 | 7,776,643 | ||||||
Raytheon Co. |
103,159 | 7,779,220 | ||||||
Waste Management, Inc. |
175,222 | 7,085,978 | ||||||
|
|
|||||||
Total Industrials |
38,288,809 | |||||||
|
|
|||||||
Information Technology (9.66%) |
||||||||
CA, Inc. |
245,987 | 7,195,120 | ||||||
Intel Corp. |
278,931 | 6,130,903 |
(a) Less | than 0.0005%. |
Common Abbreviations:
Plc- Public Limited Company.
REIT- Real Estate Investment Trust.
See Notes to Quarterly Statement of Investments.
ALPS INTERNATIONAL SECTOR DIVIDEND DOGS ETF |
STATEMENT OF INVESTMENTS | |
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCK (99.82%) |
||||||||
Australia (9.91%) |
||||||||
Amcor, Ltd. |
30,185 | $ | 280,215 | |||||
National Australia Bank, Ltd. |
10,069 | 290,814 | ||||||
Wesfarmers, Ltd. |
7,712 | 279,094 | ||||||
Westpac Banking Corp. |
10,220 | 285,534 | ||||||
Woolworths, Ltd. |
9,219 | 292,686 | ||||||
|
|
|||||||
1,428,343 | ||||||||
|
|
|||||||
Belgium (4.17%) |
||||||||
Belgacom SA |
13,365 | 319,716 | ||||||
Delhaize Group |
4,422 | 282,135 | ||||||
|
|
|||||||
601,851 | ||||||||
|
|
|||||||
Bermuda (2.01%) |
||||||||
Li & Fung, Ltd. |
196,943 | 289,531 | ||||||
|
|
|||||||
Finland (10.65%) |
||||||||
Fortum OYJ |
14,627 | 291,137 | ||||||
Metso OYJ |
7,458 | 286,933 | ||||||
Nokian Renkaat OYJ |
6,803 | 317,838 | ||||||
Stora Enso OYJ, Class R |
40,764 | 314,904 | ||||||
UPM-Kymmene OYJ |
26,909 | 324,880 | ||||||
|
|
|||||||
1,535,692 | ||||||||
|
|
|||||||
France (8.29%) |
||||||||
France Telecom SA * |
28,977 | 293,971 | ||||||
GDF Suez |
13,815 | 299,441 | ||||||
Total SA |
5,698 | 315,652 | ||||||
Vinci SA |
5,529 | 285,500 | ||||||
|
|
|||||||
1,194,564 | ||||||||
|
|
|||||||
Germany (3.95%) |
||||||||
Daimler AG, Registered Shares |
4,515 | 309,819 | ||||||
E.ON SE |
16,390 | 259,509 | ||||||
|
|
|||||||
569,328 | ||||||||
|
|
|||||||
Great Britain (12.22%) |
||||||||
Aviva Plc |
54,348 | 325,772 | ||||||
BAE Systems Plc |
46,920 | 316,368 | ||||||
GlaxoSmithKline Plc |
10,843 | 276,498 | ||||||
Imperial Tobacco Group Plc |
7,727 | 255,296 | ||||||
Royal Dutch Shell Plc, Class A |
8,678 | 280,883 | ||||||
Tesco Plc |
53,961 | 306,520 | ||||||
|
|
|||||||
1,761,337 | ||||||||
|
|
|||||||
Israel (3.66%) |
||||||||
Bezeq The Israeli Telecommunication Corp., Ltd. |
214,142 | 349,037 | ||||||
Israel Chemicals, Ltd. |
25,779 | 178,861 | ||||||
|
|
|||||||
527,898 | ||||||||
|
|
Security Description | Shares | Value | ||||||
Italy (3.96%) |
||||||||
Eni SpA |
12,671 | $ | 289,382 | |||||
Snam SpA |
60,281 | 282,033 | ||||||
|
|
|||||||
571,415 | ||||||||
|
|
|||||||
Japan (17.74%) |
||||||||
Canon, Inc. |
8,616 | 258,695 | ||||||
Daiichi Sankyo Co., Ltd. |
17,075 | 294,076 | ||||||
Eisai Co., Ltd. |
7,278 | 296,871 | ||||||
Hoya Corp. |
14,142 | 301,751 | ||||||
ITOCHU Corp. |
23,213 | 263,373 | ||||||
Nippon Electric Glass Co., Ltd. |
56,685 | 293,283 | ||||||
Takeda Pharmaceutical Co., Ltd. |
6,314 | 287,453 | ||||||
TonenGeneral Sekiyu |
28,020 | 254,844 | ||||||
Trend Micro, Inc. |
8,770 | 307,265 | ||||||
|
|
|||||||
2,557,611 | ||||||||
|
|
|||||||
Netherlands (2.06%) |
||||||||
ArcelorMittal |
23,115 | 296,732 | ||||||
|
|
|||||||
New Zealand (1.93%) |
||||||||
Telecom Corp. of New Zealand, Ltd. |
158,444 | 278,563 | ||||||
|
|
|||||||
Norway (1.67%) |
||||||||
Orkla ASA |
33,344 | 240,606 | ||||||
|
|
|||||||
Portugal (3.86%) |
||||||||
EDP - Energias de Portugal SA |
84,114 | 297,266 | ||||||
Portugal Telecom SGPS SA |
68,617 | 259,095 | ||||||
|
|
|||||||
556,361 | ||||||||
|
|
|||||||
Singapore (1.77%) |
||||||||
Singapore Press Holdings, Ltd. |
82,772 | 255,013 | ||||||
|
|
|||||||
Spain (4.06%) |
||||||||
Banco Santander SA |
41,569 | 293,377 | ||||||
Repsol SA |
12,599 | 292,317 | ||||||
|
|
|||||||
585,694 | ||||||||
|
|
|||||||
Sweden (4.05%) |
||||||||
Hennes & Mauritz AB, Class B |
8,272 | 303,927 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
23,755 | 279,224 | ||||||
|
|
|||||||
583,151 | ||||||||
|
|
|||||||
Switzerland (3.86%) |
||||||||
Novartis AG |
3,917 | 285,634 | ||||||
Zurich Insurance Group AG |
1,089 | 271,065 | ||||||
|
|
|||||||
556,699 | ||||||||
|
|
* | Non-income producing security. |
(a) | Less than 0.0005%. |
Common Abbreviations:
AB | - | Aktiebolag is the Swedish term for corporation. | ||
AG | - | Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders. | ||
ASA | - | Allmennaksjeselskap is the Norwegian term for public limited company. | ||
Ltd. | - | Limited. | ||
OYJ | - | Osakeyhtio is the Finnish term for public limited company. | ||
Plc | - | Public Limited Company. | ||
SA | - | Generally designated corporations in various countries, mostly those employing civil law. | ||
SE | - | SE Regulation is a European Company which can operate on a Europe-wide basis and be governed by Community law directly appliciable in all Member States. | ||
SpA | - | Societa per Azioni is an Italian shared company. |
See Notes to Quarterly Statement of Investments.
U.S. EQUITY HIGH VOLATILITY PUT WRITE INDEX FUND |
STATEMENT OF INVESTMENTS | |
August 31, 2013 (Unaudited) |
Security Description |
Principal Amount |
Value | ||||||
SHORT TERM INVESTMENTS (101.01%) |
||||||||
U.S. Treasury Bills Discount Notes, 0.011%, 10/10/13 (a)(b) |
$ | 2,600,000 | $ | 2,599,974 | ||||
U.S. Treasury Bills Discount Notes, 0.020%, 10/31/13 (a) |
2,600,000 | 2,599,958 | ||||||
U.S. Treasury Bills Discount Notes, 0.027%, 11/21/13 (a) |
7,700,000 | 7,699,708 | ||||||
|
|
|||||||
TOTAL SHORT TERM INVESTMENTS (Cost $12,899,279) |
12,899,640 | |||||||
|
|
|||||||
TOTAL INVESTMENTS (101.01%) (Cost $12,899,279) |
$ | 12,899,640 | ||||||
NET LIABILITIES LESS OTHER ASSETS (-1.01%) |
(129,101) | |||||||
|
|
|||||||
NET ASSETS (100.00%) |
$ | 12,770,539 | ||||||
|
|
(a) Rate shown represents the bond equivalent yield to maturity at date of purchase.
(b) All or portion of this security is being held as collateral for written options.
SCHEDULE OF WRITTEN OPTIONS
Expiration Date | Exercise Price | Contracts | Value | |||||||||||||
WRITTEN PUT OPTIONS |
||||||||||||||||
Best Buy Co., Inc. |
10/19/2013 | $ | 26.00 | (243) | $ | (1,944) | ||||||||||
Cablevision Systems Corp. |
10/19/2013 | 15.00 | (422) | (10,550) | ||||||||||||
Cobalt International Energy, Inc. |
10/19/2013 | 20.00 | (317) | (19,812) | ||||||||||||
Delta Air Lines, Inc. |
10/19/2013 | 16.00 | (396) | (7,722) | ||||||||||||
GameStop Corp. |
10/19/2013 | 41.00 | (155) | (7,828) | ||||||||||||
Green Mountain Coffee Roasters, Inc. |
10/19/2013 | 67.50 | (93) | (9,951) | ||||||||||||
Herbalife Ltd. |
10/19/2013 | 55.00 | (115) | (26,680) | ||||||||||||
Hewlett-Packard Co. |
10/19/2013 | 22.00 | (288) | (31,392) | ||||||||||||
Marvell Technology Group Ltd. |
10/19/2013 | 11.00 | (577) | (18,752) | ||||||||||||
Micron Technology, Inc. |
10/19/2013 | 12.00 | (528) | (22,968) | ||||||||||||
Newmont Mining Corp. |
10/19/2013 | 27.00 | (235) | (12,690) | ||||||||||||
PulteGroup, Inc. |
10/19/2013 | 13.00 | (488) | (11,224) | ||||||||||||
Salesforce.com, Inc. |
10/19/2013 | 37.00 | (171) | (1,368) | ||||||||||||
ServiceNow, Inc. |
10/19/2013 | 35.00 | (181) | (3,620) | ||||||||||||
Splunk, Inc. |
10/19/2013 | 42.50 | (148) | (3,330) | ||||||||||||
Tesla Motors, Inc. |
10/19/2013 | 125.00 | (50) | (11,225) | ||||||||||||
T-Mobile US, Inc. |
10/19/2013 | 20.00 | (317) | (8,876) | ||||||||||||
Ulta Salon Cosmetics & Fragrance, Inc. |
10/19/2013 | 85.00 | (73) | (9,125) | ||||||||||||
United Continental Holdings, Inc. |
10/19/2013 | 26.00 | (243) | (20,534) | ||||||||||||
Workday, Inc. |
10/19/2013 | 65.00 | (97) | (12,368) | ||||||||||||
TOTAL WRITTEN OPTIONS |
||||||||||||||||
(Premiums received $309,709) |
$ | (251,959) | ||||||||||||||
|
See Notes to Quarterly Statement of Investments.
ALPS/GOLDMAN SACHS MOMENTUM BUILDER ® GROWTH MARKETS EQUITIES AND U.S. TREASURIES INDEX ETF |
STATEMENT OF INVESTMENTS |
|||||
August 31, 2013 (Unaudited) |
(1) | Non-income producing security. |
(2) | Less than 0.005% of Net Assets. |
(3) | Less than 0.0005%. |
Common Abbreviations:
ETF - Exchange Traded Fund.
SPDR - Standard & Poors Depository Receipt.
See Notes to Quarterly Statement of Investments.
ALPS/GOLDMAN SACHS MOMENTUM BUILDER ® MULTI-ASSET INDEX ETF |
STATEMENT OF INVESTMENTS |
|
August 31, 2013 (Unaudited) |
Security Description |
Shares | Value | ||||||
EXCHANGE TRADED FUNDS (100.06%) |
||||||||
Debt Funds (42.79%) |
||||||||
iShares ® Short Treasury Bond ETF |
23,991 | $ | 2,645,008 | |||||
SPDR ® Barclays ® 1-3 Month Treasury Bill ETF (1) |
57,758 | 2,645,316 | ||||||
|
|
|||||||
Total Debt Funds |
5,290,324 | |||||||
|
|
|||||||
Equity Funds (57.27%) |
||||||||
iShares ® Russell 1000 ® Index Fund |
40,002 | 3,650,983 | ||||||
iShares ® Russell 2000 ® Index Fund |
34,159 | 3,428,880 | ||||||
|
|
|||||||
Total Equity Funds |
7,079,863 | |||||||
|
|
|||||||
TOTAL EXCHANGE TRADED FUNDS (Cost $12,210,571) |
12,370,187 | |||||||
|
|
|||||||
TOTAL INVESTMENTS (100.06%) (Cost $12,210,571) |
$ | 12,370,187 | ||||||
NET LIABILITIES LESS OTHER ASSETS (-0.06%) |
(7,656) | |||||||
|
|
|||||||
NET ASSETS (100.00%) |
$ | 12,362,531 | ||||||
|
|
(1) | Non-income producing security. |
Common Abbreviations:
SPDR - Standard & Poors Depository Receipt.
See Notes to Quarterly Statement of Investments.
ALPS/GOLDMAN SACHS MOMENTUM BUILDER ® ASIA EX-JAPAN EQUITIES AND U.S. TREASURIES INDEX ETF |
STATEMENT OF INVESTMENTS |
|||
August 31, 2013 (Unaudited) |
Security Description |
Shares | Value | ||||||
EXCHANGE TRADED FUNDS (100.06%) |
||||||||
Debt Funds (40.91%) |
||||||||
iShares ® Short Treasury Bond ETF |
16,308 | $ | 1,797,957 | |||||
SPDR ® Barclays ® 1-3 Month Treasury Bill ETF (1) |
39,261 | 1,798,154 | ||||||
|
|
|||||||
Total Debt Funds |
3,596,111 | |||||||
|
|
|||||||
Equity Funds (59.15%) |
||||||||
iShares ® MSCI Malaysia ETF |
176,366 | 2,546,725 | ||||||
iShares ® MSCI Taiwan ETF |
196,835 | 2,653,336 | ||||||
|
|
|||||||
Total Equity Funds |
5,200,061 | |||||||
|
|
|||||||
TOTAL EXCHANGE TRADED FUNDS (Cost $9,164,802) |
8,796,172 | |||||||
|
|
|||||||
TOTAL INVESTMENTS (100.06%) (Cost $9,164,802) |
$ | 8,796,172 | ||||||
NET LIABILITIES LESS OTHER ASSETS (-0.06%) |
(5,249) | |||||||
|
|
|||||||
NET ASSETS (100.00%) |
$ | 8,790,923 | ||||||
|
|
(1) | Non-income producing security. |
Common Abbreviations:
ETF - Exchange Traded Fund.
MSCI - Morgan Stanley Capital International.
SPDR - Standard & Poors Depository Receipt.
See Notes to Quarterly Statement of Investments.
ALPS/GOLDMAN SACHS RISK-ADJUSTED RETURN U.S. LARGE CAP INDEX ETF | STATEMENT OF INVESTMENTS | |
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCKS (99.85%) |
||||||||
Basic Materials (9.74%) |
||||||||
Carpenter Technology Corp. |
4,568 | $ | 245,621 | |||||
Cytec Industries, Inc. |
3,218 | 240,642 | ||||||
Newmont Mining Corp. |
6,481 | 205,901 | ||||||
Royal Gold, Inc. |
4,045 | 234,732 | ||||||
Southern Copper Corp. |
7,139 | 196,323 | ||||||
|
|
|||||||
Total Basic Materials |
1,123,219 | |||||||
|
|
|||||||
Communications (14.90%) |
||||||||
Comcast Corp., Class A |
5,574 | 234,610 | ||||||
Crown Castle International Corp. (1) |
3,169 | 219,992 | ||||||
Expedia, Inc. |
3,912 | 182,925 | ||||||
Facebook, Inc., Class A (1) |
9,419 | 388,817 | ||||||
Liberty Interactive Corp., Class A (1) |
9,785 | 220,945 | ||||||
Liberty Media Corp., Class A (1) |
1,803 | 246,073 | ||||||
SBA Communications Corp., Class A (1) |
2,996 | 224,700 | ||||||
|
|
|||||||
Total Communications |
1,718,062 | |||||||
|
|
|||||||
Consumer, Cyclical (5.65%) |
||||||||
Foot Locker, Inc. |
6,563 | 211,329 | ||||||
The Madison Square Garden Co., Class A (1) |
3,832 | 223,022 | ||||||
Wal-Mart Stores, Inc. |
2,970 | 216,751 | ||||||
|
|
|||||||
Total Consumer, Cyclical |
651,102 | |||||||
|
|
|||||||
Consumer, Non-cyclical (27.57%) |
||||||||
The ADT Corp. |
5,506 | 219,304 | ||||||
Ariad Pharmaceuticals, Inc. (1) |
12,640 | 235,104 | ||||||
Bunge, Ltd. |
3,230 | 244,769 | ||||||
Catamaran Corp. (1) |
4,652 | 255,441 | ||||||
Church & Dwight Co., Inc. |
3,717 | 220,604 | ||||||
The Coca-Cola Co. |
5,525 | 210,945 | ||||||
ConAgra Foods, Inc. |
6,731 | 227,642 | ||||||
Hologic, Inc. (1) |
10,839 | 231,304 | ||||||
IDEXX Laboratories, Inc. (1) |
2,716 | 254,815 | ||||||
Iron Mountain, Inc. |
6,356 | 163,985 | ||||||
Medivation, Inc. (1) |
4,613 | 260,773 | ||||||
PepsiCo, Inc. |
2,768 | 220,692 | ||||||
Quanta Services, Inc. (1) |
8,021 | 209,669 | ||||||
Teleflex, Inc. |
2,896 | 223,224 | ||||||
|
|
|||||||
Total Consumer, Non-cyclical |
3,178,271 | |||||||
|
|
|||||||
Energy (9.44%) |
||||||||
Cobalt International Energy, Inc. (1) |
8,533 | 208,205 | ||||||
Newfield Exploration Co. (1) |
9,428 | 224,575 | ||||||
Peabody Energy Corp. |
11,484 | 197,525 | ||||||
QEP Resources, Inc. |
7,854 | 214,571 | ||||||
Whiting Petroleum Corp. (1) |
4,825 | 243,518 | ||||||
|
|
|||||||
Total Energy |
1,088,394 | |||||||
|
|
Security Description | Shares | Value | ||||||
Financial (8.76%) |
||||||||
American Campus Communities, Inc. |
5,355 | $ | 178,375 | |||||
American Tower Corp. |
2,902 | 201,660 | ||||||
Digital Realty Trust, Inc. |
3,796 | 211,058 | ||||||
Jones Lang LaSalle, Inc. |
2,480 | 203,955 | ||||||
Validus Holdings, Ltd. |
6,197 | 214,478 | ||||||
|
|
|||||||
Total Financial |
1,009,526 | |||||||
|
|
|||||||
Industrial (5.79%) |
||||||||
FedEx Corp. |
2,307 | 247,680 | ||||||
Joy Global, Inc. |
4,222 | 207,385 | ||||||
Republic Services, Inc. |
6,538 | 212,550 | ||||||
|
|
|||||||
Total Industrial |
667,615 | |||||||
|
|
|||||||
Technology (6.30%) |
||||||||
Cognizant Technology Solutions Corp., Class A (1) |
3,471 | 254,424 | ||||||
DST Systems, Inc. |
3,315 | 236,592 | ||||||
EMC Corp. |
9,117 | 235,036 | ||||||
|
|
|||||||
Total Technology |
726,052 | |||||||
|
|
|||||||
Utilities (11.70%) |
||||||||
Alliant Energy Corp. |
4,533 | 224,882 | ||||||
Calpine Corp. (1) |
11,097 | 214,505 | ||||||
Duke Energy Corp. |
3,331 | 218,514 | ||||||
Edison International |
4,883 | 224,081 | ||||||
NextEra Energy, Inc. |
2,936 | 235,937 | ||||||
NRG Energy, Inc. |
8,820 | 231,525 | ||||||
|
|
|||||||
Total Utilities |
1,349,444 | |||||||
|
|
|||||||
TOTAL COMMON STOCKS (Cost $11,542,745) |
11,511,685 | |||||||
|
|
(1) | Non-income producing security. |
(2) | Less than 0.0005%. |
Common Abbreviations:
Ltd. - Limited.
See Notes to Quarterly Statement of Investments.
VELOCITYSHARES EMERGING MARKETS DR ETF |
STATEMENTS OF
INVESTMENTS |
|||
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCKS (89.72%) |
||||||||
Argentina (0.42%) |
||||||||
Alto Palermo SA, ADR |
2 | $37 | ||||||
Banco Macro SA, ADR (a) |
55 | 1,016 | ||||||
BBVA Banco Frances SA, ADR (a) |
67 | 326 | ||||||
Cresud SACIF y A, Sponsored ADR |
49 | 394 | ||||||
Empresa Distribuidora Y Comercializadora Norte, ADR (a) |
14 | 31 | ||||||
Grupo Financiero Galicia SA, ADR |
130 | 881 | ||||||
IRSA Inversiones y Representaciones SA, Sponsored ADR |
34 | 286 | ||||||
Pampa Energia SA, Sponsored ADR (a) |
82 | 308 | ||||||
Petrobras Argentina SA, ADR |
104 | 472 | ||||||
Telecom Argentina SA, Sponsored ADR (a) |
37 | 697 | ||||||
Transportadora de Gas del Sur SA, Sponsored ADR |
54 | 108 | ||||||
YPF SA, Sponsored ADR |
302 | 5,098 | ||||||
|
|
|||||||
9,654 | ||||||||
|
|
|||||||
Brazil (10.00%) |
||||||||
Banco Bradesco SA, ADR |
3,344 | 38,857 | ||||||
Banco Bradesco SA, ADR |
790 | 11,257 | ||||||
Banco Santander Brasil SA, ADR |
822 | 4,743 | ||||||
BrasilAgro - Co. Brasileira de Propriedades Agricolas, Sponsored ADR (a) |
153 | 605 | ||||||
Braskem SA, Sponsored ADR (a) |
116 | 1,712 | ||||||
BRF - Brasil Foods SA, ADR |
1,071 | 24,858 | ||||||
Centrais Eletricas Brasileiras SA, Sponsored ADR (a) |
426 | 903 | ||||||
Cia de Bebidas das Americas, Class C, ADR |
247 | 8,571 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo, ADR |
534 | 4,555 | ||||||
Cia Energetica de Minas Gerais, Class C, Sponsored ADR |
104 | 814 | ||||||
Cia Energetica de Minas Gerais, Sponsored ADR |
847 | 6,734 | ||||||
Cia Siderurgica Nacional SA, Sponsored ADR |
1,187 | 4,238 | ||||||
CPFL Energia SA, ADR |
173 | 2,825 | ||||||
Embraer SA, ADR |
244 | 8,040 | ||||||
Fibria Celulose SA, Sponsored ADR (a) |
349 | 3,979 | ||||||
Gafisa SA, ADR (a) |
340 | 785 | ||||||
Gerdau SA, Sponsored ADR |
1,400 | 10,052 | ||||||
Gol Linhas Aereas Inteligentes SA, ADR (a) |
166 | 607 | ||||||
Oi SA, ADR |
1,313 | 1,917 | ||||||
Oi SA, Class C, ADR |
425 | 693 | ||||||
Petroleo Brasileiro SA, ADR |
2,631 | 35,571 | ||||||
Telefonica Brasil SA, ADR |
455 | 8,977 | ||||||
Tim Participacoes SA, ADR |
249 | 4,910 | ||||||
Ultrapar Participacoes SA, Sponsored ADR |
647 | 14,176 | ||||||
Vale SA, Sponsored ADR |
2,141 | 30,852 | ||||||
|
|
|||||||
231,231 | ||||||||
|
|
|||||||
Chile (2.19%) |
||||||||
Administradora de Fondos de Pensiones Provida SA, Sponsored ADR |
17 | 1,557 | ||||||
Banco de Chile, ADR |
36 | 2,977 | ||||||
Banco Santander Chile, ADR |
244 | 5,431 | ||||||
Cencosud SA, ADR |
556 | 6,761 |
Chile (continued) |
||||||||
Cia Cervecerias Unidas SA, ADR |
86 | $2,271 | ||||||
Corpbanca SA, ADR |
163 | 2,328 | ||||||
Embotelladora Andina SA, Class A, ADR |
26 | 606 | ||||||
Embotelladora Andina SA, Class B, ADR |
50 | 1,513 | ||||||
Empresa Nacional de Electricidad SA, Sponsored ADR |
171 | 6,862 | ||||||
Enersis SA, Sponsored ADR |
606 | 9,575 | ||||||
Latam Airlines Group SA, Sponsored ADR |
484 | 6,089 | ||||||
Sociedad Quimica y Minera de Chile SA, Sponsored ADR |
142 | 3,679 | ||||||
Vina Concha y Toro SA, Sponsored ADR |
30 | 1,083 | ||||||
|
|
|||||||
50,732 | ||||||||
|
|
|||||||
China (17.36%) |
||||||||
21Vianet Group, Inc., ADR (a) |
98 | 1,328 | ||||||
51job, Inc., ADR (a) |
14 | 883 | ||||||
Acorn International, Inc., ADR (a) |
9 | 19 | ||||||
Actions Semiconductor Co. Ltd., ADR (a) |
106 | 286 | ||||||
Agria Corp., ADR (a) |
43 | 49 | ||||||
AirMedia Group, Inc., ADR (a) |
67 | 119 | ||||||
Aluminum Corp. of China Ltd., ADR (a) |
246 | 2,020 | ||||||
ATA, Inc., ADR (a) |
10 | 47 | ||||||
AutoNavi Holdings Ltd., ADR (a) |
43 | 484 | ||||||
Baidu, Inc., Sponsored ADR (a) |
432 | 58,549 | ||||||
Bitauto Holdings Ltd., ADR (a) |
28 | 384 | ||||||
Bona Film Group Ltd., Sponsored ADR (a) |
12 | 56 | ||||||
Camelot Information Systems, Inc., ADR (a) |
62 | 112 | ||||||
Changyou.com Ltd., ADR (a) |
17 | 475 | ||||||
Charm Communications, Inc., ADR |
10 | 40 | ||||||
China Digital TV Holding Co. Ltd., ADR |
82 | 113 | ||||||
China Distance Education Holdings Ltd., ADR |
14 | 134 | ||||||
China Eastern Airlines Corp. Ltd., ADR (a) |
50 | 755 | ||||||
China Finance Online Co. Ltd., ADR (a) |
19 | 30 | ||||||
China Hydroelectric Corp., ADR (a) |
38 | 84 | ||||||
China Life Insurance Co. Ltd., ADR |
803 | 29,430 | ||||||
China Lodging Group Ltd., Sponsored ADR (a) |
28 | 536 | ||||||
China Ming Yang Wind Power Group Ltd., ADR (a) |
101 | 164 | ||||||
China Mobile Ltd., Sponsored ADR |
1,662 | 89,698 | ||||||
China Nepstar Chain Drugstore Ltd., ADR (a) |
40 | 62 | ||||||
China New Borun Corp., ADR (a) |
12 | 15 | ||||||
China Petroleum & Chemical Corp., ADR |
412 | 29,656 | ||||||
China Southern Airlines Co. Ltd., Sponsored ADR |
55 | 940 | ||||||
China Sunergy Co. Ltd., ADR (a) |
8 | 19 | ||||||
China Techfaith Wireless Communication Technology Ltd., ADR (a) |
57 | 68 | ||||||
China Telecom Corp. Ltd., ADR |
216 | 10,919 | ||||||
China Unicom Hong Kong Ltd., ADR |
665 | 10,008 | ||||||
China Xiniya Fashion Ltd., Sponsored ADR (a) |
34 | 40 | ||||||
China Zenix Auto International Ltd., ADR (a) |
23 | 69 | ||||||
ChinaCache International Holdings Ltd., Sponsored ADR (a) |
22 | 99 | ||||||
ChinaEdu Corp., ADR (a) |
24 | 158 | ||||||
CNinsure, Inc., ADR (a) |
44 | 216 | ||||||
CNOOC Ltd., ADR |
256 | 51,328 | ||||||
Concord Medical Services Holdings Ltd., Sponsored ADR (a) |
37 | 185 | ||||||
Country Style Cooking Restaurant Chain Co. Ltd., Sponsored ADR (a) |
11 | 72 | ||||||
Ctrip.com International Ltd., ADR (a) |
200 | 9,204 |
China (continued) |
||||||||||
Daqo New Energy Corp., ADR (a) |
6 | $56 | ||||||||
E-Commerce China Dangdang, Inc., Sponsored ADR (a) |
87 | 679 | ||||||||
E-House China Holdings Ltd., ADR |
111 | 673 | ||||||||
eLong, Inc., Sponsored ADR (a) |
4 | 61 | ||||||||
Giant Interactive Group, Inc., ADR |
156 | 1,157 | ||||||||
Guangshen Railway Co. Ltd., Sponsored ADR |
44 | 1,056 | ||||||||
Hanwha SolarOne Co. Ltd., Sponsored ADR (a) |
67 | 194 | ||||||||
Home Inns & Hotels Management, Inc., ADR (a) |
15 | 505 | ||||||||
Huaneng Power International, Inc., Sponsored ADR |
124 | 4,902 | ||||||||
IFM Investments Ltd., ADR (a) |
9 | 23 | ||||||||
iSoftStone Holdings Ltd., ADR (a) |
69 | 349 | ||||||||
JA Solar Holdings Co. Ltd., ADR (a) |
44 | 312 | ||||||||
Jiayuan.com International Ltd., ADR |
21 | 132 | ||||||||
JinkoSolar Holding Co. Ltd., ADR (a) |
18 | 287 | ||||||||
Kingtone Wirelessinfo Solution Holding Ltd., ADR (a) |
1 | 3 | ||||||||
KongZhong Corp., ADR (a) |
40 | 401 | ||||||||
Ku6 Media Co. Ltd., Sponsored ADR (a) |
21 | 30 | ||||||||
LDK Solar Co. Ltd., ADR (a) |
103 | 154 | ||||||||
Le Gaga Holdings Ltd., ADR (a) |
34 | 124 | ||||||||
Lentuo International, Inc., Sponsored ADR (a) |
18 | 55 | ||||||||
Linktone Ltd., ADR (a) |
27 | 67 | ||||||||
Mecox Lane Ltd., ADR (a) |
7 | 26 | ||||||||
Mindray Medical International Ltd., ADR |
134 | 5,213 | ||||||||
NetEase, Inc., ADR |
114 | 8,064 | ||||||||
New Oriental Education & Technology Group, Sponsored ADR (a) |
206 | 4,373 | ||||||||
Ninetowns Internet Technology Group Co. Ltd., ADR (a) |
35 | 59 | ||||||||
Noah Education Holdings Ltd., ADR (a) |
22 | 42 | ||||||||
Noah Holdings Ltd., Sponsored ADR |
27 | 329 | ||||||||
NQ Mobile, Inc., ADR (a) |
58 | 983 | ||||||||
O2Micro International Ltd., ADR (a) |
46 | 140 | ||||||||
Ossen Innovation Co. Ltd., Sponsored ADR (a) |
13 | 9 | ||||||||
Pactera Technology International Ltd., ADR (a) |
125 | 842 | ||||||||
Perfect World Co. Ltd., Sponsored ADR |
62 | 1,211 | ||||||||
PetroChina Co. Ltd., ADR |
336 | 36,557 | ||||||||
Phoenix New Media Ltd., ADR (a) |
52 | 459 | ||||||||
Qihoo 360 Technology Co. Ltd., ADR (a) |
120 | 9,352 | ||||||||
RDA Microelectronics, Inc., Sponsored ADR |
28 | 319 | ||||||||
ReneSola Ltd., ADR (a) |
99 | 472 | ||||||||
Renren, Inc., ADR (a) |
211 | 688 | ||||||||
Semiconductor Manufacturing International Corp., ADR (a) |
732 | 2,599 | ||||||||
Shanda Games Ltd., Sponsored ADR (a) |
119 | 474 | ||||||||
Simcere Pharmaceutical Group, ADR (a) |
31 | 294 | ||||||||
Sinopec Shanghai Petrochemical Co. Ltd., Sponsored ADR (a) |
37 | 1,303 | ||||||||
Sky-mobi Ltd., Sponsored ADR (a) |
15 | 52 | ||||||||
SouFun Holdings Ltd., ADR |
26 | 1,086 | ||||||||
Spreadtrum Communications, Inc., ADR |
60 | 1,816 | ||||||||
TAL Education Group, ADR |
53 | 632 | ||||||||
Taomee Holdings Ltd., Sponsored ADR (a) |
16 | 77 | ||||||||
The9 Ltd., ADR (a) |
29 | 88 | ||||||||
Trina Solar Ltd., Sponsored ADR (a) |
120 | 1,127 | ||||||||
Vimicro International Corp., ADR (a) |
30 | 45 | ||||||||
Vipshop Holdings Ltd., ADR (a) |
23 | 996 | ||||||||
VisionChina Media, Inc., ADR (a) |
5 | 10 | ||||||||
WSP Holdings Ltd., ADR (a) |
5 | 14 |
China (continued) |
||||||||
WuXi PharmaTech Cayman, Inc., ADR (a) |
110 | $2,640 | ||||||
Xinyuan Real Estate Co. Ltd., ADR |
51 | 288 | ||||||
Xueda Education Group, Sponsored ADR |
45 | 175 | ||||||
Yanzhou Coal Mining Co. Ltd., Sponsored ADR |
307 | 2,689 | ||||||
Yingli Green Energy Holding Co. Ltd., ADR (a) |
166 | 714 | ||||||
Youku Tudou, Inc., ADR (a) |
199 | 4,615 | ||||||
YY, Inc., ADR (a) |
12 | 474 | ||||||
Zuoan Fashion Ltd., Sponsored ADR (a) |
14 | 29 | ||||||
|
|
|||||||
401,448 | ||||||||
|
|
|||||||
Colombia (1.09%) |
||||||||
Bancolombia SA, Sponsored ADR |
133 | 7,324 | ||||||
Ecopetrol SA, Sponsored ADR |
401 | 17,909 | ||||||
|
|
|||||||
25,233 | ||||||||
|
|
|||||||
Egypt (0.33%) |
||||||||
Commercial International Bank Egypt SAE, GDR (b) |
934 | 4,436 | ||||||
Egyptian Financial Group-Hermes Holding, GDR (a)(b) |
250 | 513 | ||||||
Orascom Telecom Holding SAE, GDR (a)(b) |
822 | 2,453 | ||||||
Orascom Telecom Media And Technology Holding SAE, GDR (b) |
788 | 268 | ||||||
|
|
|||||||
7,670 | ||||||||
|
|
|||||||
India (6.24%) |
||||||||
Axis Bank Ltd., GDR (b) |
359 | 4,423 | ||||||
Dr. Reddys Laboratories Ltd., ADR |
130 | 4,325 | ||||||
GAIL India Ltd., GDR (b) |
79 | 2,133 | ||||||
HDFC Bank Ltd., ADR |
618 | 17,910 | ||||||
ICICI Bank Ltd., Sponsored ADR |
456 | 11,865 | ||||||
Infosys Ltd., Sponsored ADR |
779 | 36,122 | ||||||
Larsen & Toubro Ltd., GDR (b) |
345 | 3,691 | ||||||
Mahindra & Mahindra Ltd., Sponsored GDR (b) |
472 | 5,386 | ||||||
Ranbaxy Laboratories Ltd., Sponsored GDR (a)(b) |
198 | 1,227 | ||||||
Rediff.Com India Ltd., ADR (a) |
23 | 54 | ||||||
Reliance Industries Ltd., Sponsored GDR (c) |
1,264 | 31,802 | ||||||
Sify Technologies Ltd., Sponsored ADR (a) |
38 | 68 | ||||||
State Bank of India, GDR (b) |
105 | 4,809 | ||||||
Sterlite Industries India Ltd., ADR |
316 | 1,896 | ||||||
Tata Motors Ltd., Sponsored ADR |
294 | 6,562 | ||||||
Tata Steel Ltd., GDR (b) |
366 | 1,458 | ||||||
Wipro Ltd., ADR |
995 | 8,975 | ||||||
WNS Holdings Ltd., ADR (a) |
80 | 1,618 | ||||||
|
|
|||||||
144,324 | ||||||||
|
|
|||||||
Indonesia (0.62%) |
||||||||
Telekomunikasi Indonesia Persero Tbk PT, Sponsored ADR |
388 | 14,379 | ||||||
|
|
|||||||
Kazakhstan (0.27%) |
||||||||
Halyk Savings Bank of Kazakhstan JSC, GDR (b) |
140 | 1,078 | ||||||
Kazkommertsbank JSC, GDR (a)(b) |
220 | 376 | ||||||
KazMunaiGas Exploration Production JSC, GDR (b) |
258 | 3,568 | ||||||
Zhaikmunai LP, GDR (b) |
95 | 1,193 | ||||||
|
|
|||||||
6,215 | ||||||||
|
|
Lebanon (0.23%) |
||||||||
Banque Audi sal- Audi Saradar Group, GDR (b) |
409 | $2,556 | ||||||
BLOM Bank SAL, GDR (b) |
108 | 903 | ||||||
Solidere, GDR (a)(b) |
166 | 1,768 | ||||||
|
|
|||||||
5,227 | ||||||||
|
|
|||||||
Mexico (6.47%) |
||||||||
America Movil SAB de CV, Series A, ADR |
60 | 1,155 | ||||||
America Movil SAB de CV, Series L, ADR |
2,666 | 51,454 | ||||||
Cemex SAB de CV, Sponsored ADR (a) |
1,816 | 20,412 | ||||||
Coca-Cola Femsa SAB de CV, Sponsored ADR |
40 | 4,801 | ||||||
Desarrolladora Homex SAB de CV, ADR (a) |
57 | 125 | ||||||
Empresas ICA SAB de CV, Sponsored ADR (a) |
224 | 1,837 | ||||||
Fomento Economico Mexicano SAB de CV, Sponsored ADR |
302 | 28,503 | ||||||
Gruma SAB de CV, Sponsored ADR (a) |
59 | 1,217 | ||||||
Grupo Aeroportuario del Centro Norte Sab de CV, ADR (a) |
39 | 1,064 | ||||||
Grupo Aeroportuario del Pacifico SAB de CV, ADR |
58 | 2,902 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, ADR |
28 | 3,136 | ||||||
Grupo Financiero Santander Mexico SAB de CV, Class B, ADR |
1,041 | 14,199 | ||||||
Grupo Simec SAB de CV, Sponsored ADR (a) |
50 | 546 | ||||||
Grupo Televisa SAB, Sponsored ADR |
629 | 15,819 | ||||||
Industrias Bachoco SAB de CV, Sponsored ADR |
12 | 458 | ||||||
Ternium SA, Sponsored ADR |
83 | 2,055 | ||||||
|
|
|||||||
149,683 | ||||||||
|
|
|||||||
Nigeria (0.29%) |
||||||||
Guaranty Trust Bank PLC, GDR (b) |
913 | 6,811 | ||||||
|
|
|||||||
Oman (0.08%) |
||||||||
BankMuscat SAOG, GDR (b) |
303 | 1,818 | ||||||
|
|
|||||||
Peru (0.20%) |
||||||||
Cementos Pacasmayo SAA, ADR |
72 | 893 | ||||||
Cia de Minas Buenaventura SA, ADR |
289 | 3,650 | ||||||
|
|
|||||||
4,543 | ||||||||
|
|
|||||||
Phillipines (0.36%) |
||||||||
Philippine Long Distance Telephone Co., Sponsored ADR |
130 | 8,236 | ||||||
|
|
|||||||
Russia (15.09%) |
||||||||
AFI Development PLC, GDR (a)(b) |
295 | 177 | ||||||
Cherkizovo Group OJSC GDR (a)(b) |
51 | 543 | ||||||
Etalon Group Ltd., GDR (a)(b) |
186 | 844 | ||||||
Eurasia Drilling Co. Ltd., GDR (b) |
49 | 1,889 | ||||||
Federal Hydrogenerating Co. JSC, ADR |
1,939 | 3,044 | ||||||
Gazprom Neft OAO, Sponsored ADR (a) |
59 | 1,214 | ||||||
Gazprom OAO, Sponsored ADR |
9,416 | 74,010 | ||||||
Global Ports Investments PLC, GDR (b) |
61 | 640 | ||||||
Globaltrans Investment PLC, Sponsored GDR (b) |
159 | 2,116 | ||||||
Hydraulic Machines and Systems Group PLC, GDR (b) |
52 | 135 | ||||||
IG Seismic Service PLC, GDR (a)(b) |
8 | 216 | ||||||
LSR Group, GDR (b) |
262 | 1,100 | ||||||
Lukoil OAO, Sponsored ADR |
823 | 47,693 | ||||||
Magnit OJSC, Sponsored GDR (b) |
456 | 25,308 | ||||||
Magnitogorsk Iron & Steel Works, Sponsored GDR (b) |
398 | 1,263 | ||||||
Mail.ru Group Ltd., GDR (b) |
125 | 4,081 |
Russia (continued) |
||||||||
Mechel, Sponsored ADR (a) |
215 | $621 | ||||||
MegaFon OAO, GDR (b) |
145 | 4,901 | ||||||
MMC Norilsk Nickel OJSC, ADR |
913 | 11,896 | ||||||
Mobile Telesystems OJSC, Sponsored ADR |
793 | 16,780 | ||||||
NOMOS-BANK, GDR (a)(b) |
15 | 195 | ||||||
Nord Gold NV, GDR (b) |
66 | 132 | ||||||
NovaTek OAO, Sponsored GDR (b) |
131 | 15,694 | ||||||
Novolipetsk Steel OJSC, GDR (b) |
103 | 1,653 | ||||||
Novorossiysk Commercial Sea Port PJSC, GDR (b) |
88 | 697 | ||||||
OKey Group SA, GDR (b) |
58 | 749 | ||||||
Pharmstandard OJSC, GDR (a)(b) |
109 | 1,612 | ||||||
Phosagro OAO, GDR (b) |
127 | 1,171 | ||||||
PIK Group, GDR (a)(b) |
449 | 892 | ||||||
QIWI plc ADR |
25 | 745 | ||||||
Ros Agro PLC, GDR (a)(b) |
46 | 244 | ||||||
Rosneft OAO, GDR (b) |
1,659 | 12,194 | ||||||
Rostelecom OJSC, Sponsored ADR |
376 | 6,967 | ||||||
Sberbank of Russia, Sponsored ADR |
4,132 | 43,551 | ||||||
Severstal OAO, GDR (b) |
275 | 2,272 | ||||||
Sistema JSFC, Sponsored GDR (b) |
273 | 6,044 | ||||||
Surgutneftegas OAO, Sponsored ADR |
1,509 | 11,755 | ||||||
Tatneft OAO, Sponsored ADR |
352 | 13,341 | ||||||
TMK OAO, GDR (b) |
84 | 1,081 | ||||||
Uralkali OJSC, Sponsored GDR (b) |
545 | 12,808 | ||||||
VimpelCom Ltd., Sponsored ADR |
356 | 3,820 | ||||||
VTB Bank OJSC, GDR (b) |
4,065 | 10,772 | ||||||
X5 Retail Group NV, GDR (a)(b) |
135 | 2,187 | ||||||
|
|
|||||||
349,047 | ||||||||
|
|
|||||||
South Africa (2.48%) |
||||||||
AngloGold Ashanti Ltd., Sponsored ADR |
598 | 7,995 | ||||||
DRDGOLD Ltd., Sponsored ADR |
61 | 363 | ||||||
Gold Fields Ltd., Sponsored ADR |
1,143 | 5,886 | ||||||
Harmony Gold Mining Co. Ltd., Sponsored ADR |
574 | 2,078 | ||||||
Sappi Ltd., Sponsored ADR (a) |
747 | 1,793 | ||||||
Sasol Ltd., Sponsored ADR |
813 | 38,057 | ||||||
Sibanye Gold Ltd., Sponsored ADR (a) |
285 | 1,177 | ||||||
|
|
|||||||
57,349 | ||||||||
|
|
|||||||
South Korea (16.20%) |
||||||||
Gravity Co. Ltd., Sponsored ADR (a) |
18 | 20 | ||||||
Hyundai Motor Co., GDR (b) |
59 | 2,738 | ||||||
KB Financial Group, Inc., ADR |
620 | 19,598 | ||||||
Korea Electric Power Corp., Sponsored ADR (a) |
884 | 12,128 | ||||||
KT Corp., Sponsored ADR |
401 | 6,444 | ||||||
LG Display Co. Ltd., ADR (a) |
695 | 9,021 | ||||||
LG Electronics, Inc., GDR (b)(c) |
36 | 453 | ||||||
Lotte Shopping Co. Ltd., GDR (b)(c) |
433 | 6,556 | ||||||
POSCO, ADR |
529 | 38,099 | ||||||
Samsung Electronics Co. Ltd., GDR (b) |
385 | 234,465 | ||||||
Shinhan Financial Group Co. Ltd., ADR |
768 | 27,494 | ||||||
SK Telecom Co. Ltd., ADR |
557 | 12,215 | ||||||
Woori Finance Holdings Co. Ltd., ADR |
182 | 5,398 | ||||||
|
|
|||||||
374,629 | ||||||||
|
|
(a) | Non-income producing security. |
(b) | These securities initially sold to other parties pursuant to Regulation S under the 1933 Act and subsequently resold to the Fund. At the period end, the aggregate market values of these securities were $495,912, representing 21.44% of the Funds net assets. |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At period end, the market value of this security restricted under Rule 144A was $ 38,811, representing 1.68% of the Funds net assets. |
(d) | Less than 0.0005%. |
Common Abbreviations:
ADR - American Depositary Receipt.
AS - Anonim Sirket is the Turkish term for Incorporation.
GDR - Global Depositary Receipt.
JSC - Joint Stock Company.
JSFC - Joint Stock Financial Corporation.
LP - Limited Partnership.
Ltd. - Limited.
NV - Naamloze Vennootschap is the Dutch term for a public limited liability corporation.
OAO - Otkrytoe Aktsionernoe Obschestvo is the Russian term for Open Joint Stock Company.
OJSC - Open Joint Stock Company.
PJSC - Private Joint Stock Company.
PLC - Public Limited Company.
SA - Generally designates corporations in various countries, mostly those emloying the civil law.
SAA - Sociedad Anonima Abierta is the Peruvian term used for companies with 20 or more shareholders.
SAB de CV - A variable capital company.
SACIF y A - Sociedad Anonima Comercial, Industrial, Financiera Y Agropecuaria.
SAE - Societe Anonyme Egyptienne is the French term for a Joint Stock Company in Egypt.
SAL - Societe Anonyme Libanaise is the French term for a Joint Stock Company in Lebanon.
SAOG - Societe Anonyme Omanaise Generale the term for an Open Joint Stock Company in Oman.
Tbk PT - Terbuka Perseroan Terbatas is an Indonesian term for a limited liability company.
See Notes to Quarterly Statement of Investments.
VELOCITYSHARES RUSSIA SELECT DR ETF |
STATEMENTS OF
|
|||||||
August 31, 2013 (Unaudited) | ||||||||
Security Description | Shares | Value | ||||||
COMMON STOCKS (98.70%) |
||||||||
Chemicals: Agricultural (5.13%) |
||||||||
Phosagro OAO, GDR (a) |
3,263 | $30,085 | ||||||
Uralkali OJSC, Sponsored GDR (a) |
3,949 | 92,801 | ||||||
|
|
|||||||
122,886 | ||||||||
|
|
|||||||
Construction Materials (0.73%) |
||||||||
LSR Group, GDR (a) |
4,150 | 17,430 | ||||||
|
|
|||||||
Contract Drilling (1.13%) |
||||||||
Eurasia Drilling Co. Ltd., GDR (a) |
703 | 27,101 | ||||||
|
|
|||||||
Electric Utilities (1.29%) |
||||||||
Federal Hydrogenerating Co. JSC, ADR |
19,755 | 31,015 | ||||||
|
|
|||||||
Food Retail (7.64%) |
||||||||
Magnit OJSC, Sponsored GDR (a) |
2,399 | 133,145 | ||||||
OKey Group SA, GDR (a) |
1,630 | 21,043 | ||||||
X5 Retail Group NV, GDR (a)(b) |
1,777 | 28,787 | ||||||
|
|
|||||||
182,975 | ||||||||
|
|
|||||||
Homebuilding (1.84%) |
||||||||
Etalon Group Ltd., GDR (a)(b) |
4,133 | 18,764 | ||||||
PIK Group, GDR (a)(b) |
12,812 | 25,444 | ||||||
|
|
|||||||
44,208 | ||||||||
|
|
|||||||
Integrated Oil (36.62%) |
||||||||
Gazprom Neft OAO, Sponsored ADR (b) |
1,024 | 21,064 | ||||||
Gazprom OAO, Sponsored ADR |
64,024 | 503,229 | ||||||
Lukoil OAO, Sponsored ADR |
1,630 | 94,458 | ||||||
NovaTek OAO, Sponsored GDR (a) |
616 | 73,797 | ||||||
Rosneft OAO, GDR (a) |
13,220 | 97,167 | ||||||
Surgutneftegas OAO, Sponsored ADR |
11,267 | 87,770 | ||||||
|
|
|||||||
877,485 | ||||||||
|
|
|||||||
Internet Software/Services (1.71%) |
||||||||
Mail.ru Group Ltd., GDR (a) |
1,258 | 41,074 | ||||||
|
|
|||||||
Major Telecommunications (2.41%) |
||||||||
Sistema JSFC, Sponsored GDR (a) |
2,606 | 57,697 | ||||||
|
|
|||||||
Oil & Gas Production (4.01%) |
||||||||
Tatneft OAO, Sponsored ADR |
2,534 | 96,039 | ||||||
|
|
|||||||
Oilfield Services/Equipment (1.45%) |
||||||||
Global Ports Investments PLC, GDR (a) |
1,372 | 14,406 | ||||||
TMK OAO, GDR (a) |
1,580 | 20,335 | ||||||
|
|
|||||||
34,741 | ||||||||
|
|
(a) | These securities initially sold to other parties pursuant to Regulation S under the 1933 Act and subsequently resold to the Fund. At the period end, the aggregate market values of these securities were $952,575, representing 39.76% of the Funds net assets. |
(b) | Non-income producing security. |
(c) | Less than 0.0005%. |
Common Abbreviations:
ADR - American Depositary Receipt.
GDR - Global Depositary Receipt.
JSC - Joint Stock Company.
JSFC - Joint Stock Financial Corporation.
Ltd. - Limited.
NV - Naamloze Vennootschap is the Dutch term for a public limited liability corporation.
OAO - Otkrytoe Aktsionernoe Obschestvo is the Russian term for Open Joint Stock Company.
OJSC - Open Joint Stock Company.
PLC - Public Limited Company.
SA - Generally designates corporations in various countries, mostly those emloying the civil law.
See Notes to Quarterly Statement of Investments.
VELOCITYSHARES EMERGING ASIA DR ETF |
STATEMENTS OF
|
|||||||
August 31, 2013 (Unaudited) | ||||||||
Security Description | Shares | Value | ||||||
COMMON STOCKS (97.09%) |
||||||||
China (33.94%) |
||||||||
21Vianet Group, Inc., ADR (a) |
141 | $1,911 | ||||||
51job, Inc., ADR (a) |
28 | 1,765 | ||||||
Acorn International, Inc., ADR (a) |
24 | 50 | ||||||
Actions Semiconductor Co. Ltd., ADR (a) |
216 | 583 | ||||||
Agria Corp., ADR (a) |
89 | 102 | ||||||
AirMedia Group, Inc., ADR (a) |
144 | 256 | ||||||
Aluminum Corp. of China Ltd., ADR (a) |
509 | 4,179 | ||||||
ATA, Inc./China, ADR (a) |
20 | 94 | ||||||
AutoNavi Holdings Ltd., ADR (a) |
88 | 991 | ||||||
Baidu, Inc., Sponsored ADR (a) |
914 | 123,874 | ||||||
Bitauto Holdings Ltd., ADR (a) |
57 | 782 | ||||||
Bona Film Group Ltd., Sponsored ADR (a) |
23 | 106 | ||||||
Camelot Information Systems, Inc., ADR (a) |
127 | 229 | ||||||
Changyou.com Ltd., ADR (a) |
34 | 949 | ||||||
Charm Communications, Inc., ADR |
21 | 84 | ||||||
China Digital TV Holding Co. Ltd., ADR |
165 | 228 | ||||||
China Distance Education Holdings Ltd., ADR |
28 | 268 | ||||||
China Eastern Airlines Corp. Ltd., ADR (a) |
131 | 1,979 | ||||||
China Finance Online Co. Ltd., ADR (a) |
40 | 63 | ||||||
China Hydroelectric Corp., ADR (a) |
80 | 177 | ||||||
China Life Insurance Co. Ltd., ADR |
1,679 | 61,535 | ||||||
China Lodging Group Ltd., Sponsored ADR (a) |
57 | 1,091 | ||||||
China Ming Yang Wind Power Group Ltd., ADR (a) |
209 | 339 | ||||||
China Mobile Ltd., Sponsored ADR |
3,536 | 190,838 | ||||||
China Nepstar Chain Drugstore Ltd., ADR (a) |
86 | 132 | ||||||
China New Borun Corp., ADR (a) |
25 | 32 | ||||||
China Petroleum & Chemical Corp., ADR |
865 | 62,263 | ||||||
China Southern Airlines Co. Ltd., Sponsored ADR |
111 | 1,897 | ||||||
China Sunergy Co. Ltd., ADR (a) |
16 | 39 | ||||||
China Techfaith Wireless Communication Technology Ltd., ADR (a) |
117 | 140 | ||||||
China Telecom Corp. Ltd., ADR |
474 | 23,961 | ||||||
China Unicom Hong Kong Ltd., ADR |
1,445 | 21,747 | ||||||
China Xiniya Fashion Ltd., Sponsored ADR (a) |
71 | 84 | ||||||
China Zenix Auto International Ltd., ADR (a) |
50 | 151 | ||||||
ChinaCache International Holdings Ltd., Sponsored ADR (a) |
39 | 175 | ||||||
ChinaEdu Corp., ADR (a) |
49 | 323 | ||||||
CNinsure, Inc., ADR (a) |
92 | 452 | ||||||
CNOOC Ltd., ADR |
544 | 109,072 | ||||||
Concord Medical Services Holdings Ltd., Sponsored ADR (a) |
80 | 400 | ||||||
Country Style Cooking Restaurant Chain Co. Ltd., Sponsored ADR (a) |
21 | 137 | ||||||
Ctrip.com International Ltd., ADR (a) |
438 | 20,157 | ||||||
Daqo New Energy Corp., ADR (a) |
12 | 111 | ||||||
E-Commerce China Dangdang, Inc., Sponsored ADR (a) |
180 | 1,406 | ||||||
E-House China Holdings Ltd., ADR |
223 | 1,351 | ||||||
eLong, Inc., Sponsored ADR (a) |
6 | 92 |
China (continued) |
||||||||||
Giant Interactive Group, Inc., ADR |
316 | $2,345 | ||||||||
Guangshen Railway Co. Ltd., Sponsored ADR |
92 | 2,208 | ||||||||
Hanwha SolarOne Co. Ltd., Sponsored ADR (a) |
122 | 354 | ||||||||
Home Inns & Hotels Management, Inc., ADR (a) |
33 | 1,111 | ||||||||
Huaneng Power International, Inc., Sponsored ADR |
271 | 10,713 | ||||||||
IFM Investments Ltd., ADR (a) |
20 | 51 | ||||||||
iSoftStone Holdings Ltd., ADR (a) |
143 | 724 | ||||||||
JA Solar Holdings Co. Ltd., ADR (a) |
95 | 673 | ||||||||
Jiayuan.com International Ltd., ADR |
42 | 265 | ||||||||
JinkoSolar Holding Co. Ltd., ADR (a) |
37 | 590 | ||||||||
Kingtone Wirelessinfo Solution Holding Ltd., ADR (a) |
2 | 5 | ||||||||
KongZhong Corp., ADR (a) |
83 | 832 | ||||||||
Ku6 Media Co. Ltd., Sponsored ADR (a) |
43 | 61 | ||||||||
LDK Solar Co. Ltd., ADR (a) |
214 | 321 | ||||||||
Le Gaga Holdings Ltd., ADR (a) |
73 | 267 | ||||||||
Lentuo International, Inc., Sponsored ADR (a) |
37 | 113 | ||||||||
Linktone Ltd., ADR (a) |
53 | 131 | ||||||||
Mecox Lane Ltd., ADR (a) |
14 | 53 | ||||||||
Mindray Medical International Ltd., ADR |
298 | 11,592 | ||||||||
NetEase, Inc., ADR |
248 | 17,543 | ||||||||
New Oriental Education & Technology Group, Sponsored ADR (a) |
446 | 9,469 | ||||||||
Ninetowns Internet Technology Group Co. Ltd., ADR (a) |
71 | 119 | ||||||||
Noah Education Holdings Ltd., ADR (a) |
45 | 86 | ||||||||
Noah Holdings Ltd., Sponsored ADR |
59 | 720 | ||||||||
NQ Mobile, Inc., ADR (a) |
99 | 1,677 | ||||||||
O2Micro International Ltd., ADR (a) |
97 | 296 | ||||||||
Ossen Innovation Co. Ltd., Sponsored ADR (a) |
26 | 17 | ||||||||
Pactera Technology International Ltd., ADR (a) |
272 | 1,833 | ||||||||
Perfect World Co. Ltd., Sponsored ADR |
131 | 2,558 | ||||||||
PetroChina Co. Ltd., ADR |
712 | 77,466 | ||||||||
Phoenix New Media Ltd., ADR (a) |
111 | 979 | ||||||||
Qihoo 360 Technology Co. Ltd., ADR (a) |
258 | 20,106 | ||||||||
RDA Microelectronics, Inc., Sponsored ADR |
110 | 1,254 | ||||||||
ReneSola Ltd., ADR (a) |
204 | 973 | ||||||||
Renren, Inc., ADR (a) |
456 | 1,487 | ||||||||
Semiconductor Manufacturing International Corp., ADR (a) |
1,607 | 5,705 | ||||||||
Shanda Games Ltd., Sponsored ADR (a) |
276 | 1,100 | ||||||||
Simcere Pharmaceutical Group, ADR (a) |
65 | 617 | ||||||||
Sinopec Shanghai Petrochemical Co. Ltd., Sponsored ADR (a) |
76 | 2,677 | ||||||||
Sky-mobi Ltd., Sponsored ADR (a) |
31 | 107 | ||||||||
SouFun Holdings Ltd., ADR |
56 | 2,339 | ||||||||
Spreadtrum Communications, Inc., ADR |
122 | 3,692 | ||||||||
TAL Education Group, ADR |
111 | 1,323 | ||||||||
Taomee Holdings Ltd., Sponsored ADR (a) |
32 | 153 | ||||||||
The9 Ltd., ADR (a) |
60 | 183 | ||||||||
Trina Solar Ltd., Sponsored ADR (a) |
254 | 2,385 | ||||||||
Vimicro International Corp., ADR (a) |
62 | 93 | ||||||||
Vipshop Holdings Ltd., ADR (a) |
46 | 1,992 | ||||||||
VisionChina Media, Inc., ADR (a) |
11 | 23 | ||||||||
WSP Holdings Ltd., ADR (a) |
12 | 33 | ||||||||
WuXi PharmaTech Cayman, Inc., ADR (a) |
227 | 5,448 | ||||||||
Xinyuan Real Estate Co. Ltd., ADR |
104 | 587 | ||||||||
Xueda Education Group, Sponsored ADR |
91 | 354 |
China (continued) |
||||||||||
Yanzhou Coal Mining Co. Ltd., Sponsored ADR |
633 | $5,545 | ||||||||
Yingli Green Energy Holding Co. Ltd., ADR (a) |
342 | 1,471 | ||||||||
Youku Tudou, Inc., ADR (a) |
431 | 9,995 | ||||||||
YY, Inc., ADR (a) |
32 | 1,263 | ||||||||
Zuoan Fashion Ltd., Sponsored ADR (a) |
27 | 56 | ||||||||
|
|
|||||||||
852,728 | ||||||||||
|
|
|||||||||
India (12.15%) |
||||||||||
Axis Bank Ltd., GDR (b) |
780 | 9,610 | ||||||||
Dr. Reddys Laboratories Ltd., ADR |
283 | 9,415 | ||||||||
GAIL India Ltd., GDR (b) |
183 | 4,941 | ||||||||
HDFC Bank Ltd., ADR |
1,320 | 38,254 | ||||||||
ICICI Bank Ltd., Sponsored ADR |
955 | 24,849 | ||||||||
Infosys Ltd., Sponsored ADR |
1,629 | 75,537 | ||||||||
Larsen & Toubro Ltd., GDR (b) |
766 | 8,196 | ||||||||
Mahindra & Mahindra Ltd., Sponsored GDR (b) |
1,022 | 11,661 | ||||||||
Ranbaxy Laboratories Ltd., Sponsored GDR (a),(b) |
405 | 2,509 | ||||||||
Rediff.Com India Ltd., ADR (a) |
47 | 110 | ||||||||
Reliance Industries Ltd., Sponsored GDR (c) |
2,673 | 67,253 | ||||||||
Sify Technologies Ltd., Sponsored ADR (a) |
80 | 143 | ||||||||
State Bank of India, GDR (b) |
227 | 10,397 | ||||||||
Sterlite Industries India Ltd., ADR |
652 | 3,912 | ||||||||
Tata Motors Ltd., Sponsored ADR |
633 | 14,128 | ||||||||
Tata Steel Ltd., GDR (b) |
754 | 3,004 | ||||||||
Wipro Ltd., ADR |
2,050 | 18,491 | ||||||||
WNS Holdings Ltd., ADR (a) |
140 | 2,832 | ||||||||
|
|
|||||||||
305,242 | ||||||||||
|
|
|||||||||
Indonesia (1.23%) |
||||||||||
Telekomunikasi Indonesia Persero Tbk PT, Sponsored ADR |
834 | 30,908 | ||||||||
|
|
|||||||||
Phillipines (0.72%) |
||||||||||
Philippine Long Distance Telephone Co., Sponsored ADR |
286 | 18,118 | ||||||||
|
|
|||||||||
South Korea (31.67%) |
||||||||||
Gravity Co. Ltd., Sponsored ADR (a) |
37 | 42 | ||||||||
Hyundai Motor Co., GDR (b) |
121 | 5,615 | ||||||||
KB Financial Group, Inc., ADR |
1,299 | 41,061 | ||||||||
Korea Electric Power Corp., Sponsored ADR (a) |
1,926 | 26,425 | ||||||||
KT Corp., Sponsored ADR |
852 | 13,692 | ||||||||
LG Display Co. Ltd., ADR (a) |
1,511 | 19,613 | ||||||||
LG Electronics, Inc., GDR (b),(c) |
74 | 930 | ||||||||
Lotte Shopping Co. Ltd., GDR (b),(c) |
936 | 14,171 | ||||||||
POSCO, ADR |
1,122 | 80,807 | ||||||||
Samsung Electronics Co. Ltd., GDR (b) |
817 | 497,553 | ||||||||
Shinhan Financial Group Co. Ltd., ADR |
1,603 | 57,387 | ||||||||
SK Telecom Co. Ltd., ADR |
1,202 | 26,360 | ||||||||
Woori Finance Holdings Co. Ltd., ADR |
399 | 11,834 | ||||||||
|
|
|||||||||
795,490 | ||||||||||
|
|
|||||||||
Taiwan (17.38%) |
||||||||||
Acer, Inc., Sponsored GDR (a),(b) |
1,705 | 5,500 | ||||||||
Advanced Semiconductor Engineering, Inc., ADR |
4,084 | 17,439 | ||||||||
AU Optronics Corp., Sponsored ADR (a) |
2,974 | 11,420 |
(a) | Non-income producing security. |
(b) | These securities initially sold to other parties pursuant to Regulation S under the 1933 Act and subsequently resold to the Fund. At the period end, the aggregate market values of these securities were $761,767, representing 30.32% of the Funds net assets. |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. At period end, the market value of this security restricted under Rule 144A was $ 82,354, representing 3.28% of the Funds net assets. |
(d) | Less than 0.0005%. |
Common Abbreviations:
ADR - American Depositary Receipt.
GDR - Global Depositary Receipt.
Ltd. - Limited.
Tbk PT - Terbuka Perseroan Terbatas is an Indonesian term for a limited liability company.
See Notes to Quarterly Statement of Investments.
(a) | Less than 0.0005%. |
Common Abbreviations:
ETF - Exchange Traded Fund.
S&P - Standard and Poors.
SPDR- Standard and Poors Depositary Receipt.
See Notes to Quarterly Statement of Investments.
VelocityShares Tail Risk Hedged Large Cap ETF
TOTAL RETURN SWAP CONTRACTS (a)
Reference Obligation |
Swap
Counterparty |
Rate Paid
by the Fund |
Termination
Dates |
Notional
Amount |
Unrealized
Appreciation / (Depreciation) |
|||||||||||||||
S&P 500 ® VIX ® Futures Tail Risk Index - Short Term |
BNP Paribas | 1.970% | 02/03/2015 | $ | 198,428 | $ | (20,541 | ) | ||||||||||||
S&P 500 ® VIX ® Futures Tail Risk Index - Short Term |
BNP Paribas | 1.970% | 03/02/2015 | $ | 16,504 | 14 | ||||||||||||||
|
|
|||||||||||||||||||
$ | (20,527 | ) | ||||||||||||||||||
|
|
(a) The Fund receives monthly payments based on any positive monthly return of the Reference Obligation. The Fund makes payments on any negative monthly return of such Reference Obligation.
VELOCITYSHARES VOLATILITY HEDGED LARGE CAP ETF |
STATEMENTS OF
INVESTMENTS |
|
August 31, 2013 (Unaudited) |
(a) | Less than 0.0005%. |
Common Abbreviations:
ETF - Exchange Traded Fund.
S&P - Standard and Poors.
SPDR - Standard and Poors Depositary Receipt.
See Notes to Quarterly Statement of Investments.
VelocityShares Volatility Hedged Large Cap ETF
TOTAL RETURN SWAP CONTRACTS (a)
Reference Obligation |
Swap
Counterparty |
Rate Paid
by the Fund |
Termination
Dates |
Notional
Amount |
Unrealized
Depreciation |
|||||||||||||
S&P 500 ® VIX ® Futures Variable Long/Short Index - Short Term |
BNP Paribas | 1.970% | 02/03/2015 | $ | 760,665 | $ | (13,456 | ) | ||||||||||
S&P 500 ® VIX ® Futures Variable Long/Short Index - Short Term |
BNP Paribas | 1.970% | 03/02/2015 | 14,783 | (159 | ) | ||||||||||||
|
|
|||||||||||||||||
$ | (13,615 | ) | ||||||||||||||||
|
|
(a) The Fund receives monthly payments based on any positive monthly return of the Reference Obligation. The Fund makes payments on any negative monthly return of such Reference Obligation.
BARRONS 400 ETF | STATEMENT OF INVESTMENTS | |
August 31, 2013 (Unaudited) |
Security Description | Shares | Value | ||||||
COMMON STOCKS (99.50%) |
||||||||
Basic Materials (3.02%) |
||||||||
Axiall Corp. |
3,068 | $ | 122,812 | |||||
Carpenter Technology Corp. |
3,717 | 199,863 | ||||||
CF Industries Holdings, Inc. |
885 | 168,451 | ||||||
FMC Corp. |
2,832 | 188,639 | ||||||
Freeport-McMoRan Copper & Gold, Inc. |
7,729 | 233,570 | ||||||
Kronos Worldwide, Inc. |
9,912 | 146,797 | ||||||
Monsanto Co. |
1,711 | 167,490 | ||||||
NewMarket Corp. |
649 | 177,943 | ||||||
Olin Corp. |
7,316 | 169,000 | ||||||
PPG Industries, Inc. |
1,298 | 202,760 | ||||||
Sherwin-Williams Co. |
1,062 | 183,089 | ||||||
Sigma-Aldrich Corp. |
2,242 | 184,897 | ||||||
US Silica Holdings, Inc. |
6,785 | 159,448 | ||||||
|
|
|||||||
Total Basic Materials |
2,304,759 | |||||||
|
|
|||||||
Communications (7.83%) |
||||||||
8x8, Inc. (a) |
25,370 | 234,673 | ||||||
AOL, Inc. |
4,661 | 153,487 | ||||||
Belo Corp., Class A |
18,305 | 258,833 | ||||||
CalAmp Corp. (a) |
_15,812 | 259,159 | ||||||
Cisco Systems, Inc. |
7,965 | 185,664 | ||||||
Dice Holdings, Inc. (a) |
18,408 | 153,339 | ||||||
F5 Networks, Inc. (a) |
1,829 | 152,502 | ||||||
FactSet Research Systems, Inc. |
1,770 | 181,160 | ||||||
Google, Inc., Class A (a) |
236 | 199,868 | ||||||
InterDigital, Inc. |
3,658 | 130,005 | ||||||
IPG Photonics Corp. |
2,833 | 152,302 | ||||||
LIN Media LLC, Class A (a) |
15,930 | 267,624 | ||||||
Motorola Solutions, Inc. |
2,773 | 155,316 | ||||||
NeuStar, Inc., Class A (a) |
3,894 | 196,803 | ||||||
NIC, Inc. |
9,676 | 215,388 | ||||||
Omnicom Group, Inc. |
3,009 | 182,496 | ||||||
OpenTable, Inc. (a) |
2,832 | 211,097 | ||||||
Plantronics, Inc. |
4,130 | 178,416 | ||||||
priceline.com, Inc. (a) |
236 | 221,493 | ||||||
Scripps Networks Interactive, Inc., Class A |
2,714 | 199,560 | ||||||
Shutterfly, Inc. (a) |
3,835 | 199,267 | ||||||
Sinclair Broadcast Group, Inc., Class A |
9,735 | 232,861 | ||||||
Sirius XM Radio, Inc. |
54,267 | 194,276 | ||||||
Stamps.com, Inc. (a) |
6,785 | 284,155 | ||||||
Starz, Class A (a) |
8,673 | 216,478 | ||||||
Symantec Corp. |
7,080 | 181,319 | ||||||
T-Mobile US, Inc. |
8,201 | 191,493 | ||||||
TripAdvisor, Inc. (a) |
3,422 | 253,125 | ||||||
ValueClick, Inc. (a) |
6,372 | 134,832 | ||||||
Walt Disney Co. |
3,068 | 186,626 | ||||||
|
|
|||||||
Total Communications |
5,963,617 | |||||||
|
|
|||||||
Consumer, Cyclical (24.05%) |
||||||||
Advance Auto Parts, Inc. |
2,301 | 184,241 |
Security Description | Shares | Value | ||||||||
Consumer, Cyclical (continued) |
||||||||||
Alaska Air Group, Inc. |
3,127 | $ | 177,051 | |||||||
American Eagle Outfitters, Inc. |
8,511 | 123,154 | ||||||||
ANN, Inc. (a) |
6,018 | 208,825 | ||||||||
Arctic Cat, Inc. |
4,189 | 224,865 | ||||||||
Bally Technologies, Inc. (a) |
3,481 | 251,085 | ||||||||
Bed Bath & Beyond, Inc. (a) |
2,950 | 217,533 | ||||||||
BorgWarner, Inc. |
2,242 | 216,532 | ||||||||
Buckle, Inc. |
3,894 | 201,631 | ||||||||
Carters, Inc. |
3,068 | 225,928 | ||||||||
Cheesecake Factory, Inc. |
4,897 | 204,548 | ||||||||
Chicos FAS, Inc. |
10,089 | 157,388 | ||||||||
Chipotle Mexican Grill, Inc. (a) |
531 | 216,738 | ||||||||
Coach, Inc. |
3,599 | 190,063 | ||||||||
Cooper Tire & Rubber Co. |
6,903 | 220,413 | ||||||||
Copart, Inc. (a) |
5,428 | 172,448 | ||||||||
Crocs, Inc. (a) |
11,033 | 148,504 | ||||||||
CVS Caremark Corp. |
3,363 | 195,222 | ||||||||
Deckers Outdoor Corp. (a) |
3,540 | 207,904 | ||||||||
Dicks Sporting Goods, Inc. |
3,481 | 161,553 | ||||||||
Dollar General Corp. (a) |
3,658 | 197,422 | ||||||||
Dollar Tree, Inc. (a) |
3,835 | 202,105 | ||||||||
DR Horton, Inc. |
7,316 | 130,591 | ||||||||
DSW, Inc., Class A |
2,537 | 218,410 | ||||||||
Express, Inc. (a) |
9,263 | 194,430 | ||||||||
Family Dollar Stores, Inc. |
3,009 | 214,211 | ||||||||
Fastenal Co. |
3,422 | 150,534 | ||||||||
First Cash Financial Services, Inc. (a) |
3,140 | 173,548 | ||||||||
Foot Locker, Inc. |
4,947 | 159,293 | ||||||||
Fossil Group, Inc. (a) |
1,652 | 191,863 | ||||||||
Francescas Holdings Corp. (a) |
6,667 | 160,808 | ||||||||
Gap, Inc. |
4,838 | 195,649 | ||||||||
Gentherm, Inc. (a) |
10,620 | 177,673 | ||||||||
Genuine Parts Co. |
2,360 | 181,744 | ||||||||
GNC Holdings, Inc., Class A |
4,366 | 222,098 | ||||||||
Hanesbrands, Inc. |
4,425 | 263,199 | ||||||||
Hibbett Sports, Inc. (a) |
3,186 | 165,035 | ||||||||
Home Depot, Inc. |
2,478 | 184,586 | ||||||||
HSN, Inc. |
3,186 | 171,598 | ||||||||
International Game Technology |
10,325 | 195,039 | ||||||||
Krispy Kreme Doughnuts, Inc. (a) |
11,800 | 232,696 | ||||||||
Las Vegas Sands Corp. |
3,304 | 186,180 | ||||||||
LeapFrog Enterprises, Inc. (a) |
20,340 | 195,670 | ||||||||
Lear Corp. |
3,245 | 223,093 | ||||||||
Lennar Corp., Class A |
4,189 | 133,252 | ||||||||
Lumber Liquidators Holdings, Inc. (a) |
2,714 | 269,826 | ||||||||
Macys, Inc. |
4,239 | 188,339 | ||||||||
Mattel, Inc. |
4,189 | 169,655 | ||||||||
McDonalds Corp. |
1,770 | 167,017 | ||||||||
Michael Kors Holdings, Ltd. (a) |
3,009 | 222,937 | ||||||||
MSC Industrial Direct Co., Inc., Class A |
2,006 | 152,456 | ||||||||
Multimedia Games Holding Co., Inc. (a) |
9,027 | 354,219 | ||||||||
MWI Veterinary Supply, Inc. (a) |
1,298 | 197,399 | ||||||||
NIKE, Inc., Class B |
3,127 | 196,438 | ||||||||
Nordstrom, Inc. |
3,245 | 180,844 |
Security Description | Shares | Value | ||||||
Consumer, Cyclical (continued) |
||||||||
Nu Skin Enterprises, Inc., Class A |
4,189 | $ | 350,661 | |||||
OReilly Automotive, Inc. (a) |
1,652 | 202,717 | ||||||
Panera Bread Co., Class A (a) |
1,062 | 174,189 | ||||||
PetSmart, Inc. |
2,773 | 195,302 | ||||||
Pier 1 Imports, Inc. |
7,788 | 170,713 | ||||||
Polaris Industries, Inc. |
1,947 | 212,632 | ||||||
Pool Corp. |
3,717 | 193,619 | ||||||
Ralph Lauren Corp. |
1,003 | 165,906 | ||||||
Ross Stores, Inc. |
3,127 | 210,322 | ||||||
rue21, Inc. (a) |
6,195 | 253,066 | ||||||
Select Comfort Corp. (a) |
10,030 | 247,741 | ||||||
SHFL Entertainment, Inc. (a) |
11,210 | 255,252 | ||||||
Six Flags Entertainment Corp. |
5,098 | 168,285 | ||||||
Spirit Airlines, Inc. (a) |
7,473 | 232,933 | ||||||
Standard Motor Products, Inc. |
6,313 | 193,557 | ||||||
Starbucks Corp. |
3,009 | 212,195 | ||||||
Steven Madden, Ltd. (a) |
3,894 | 210,276 | ||||||
Target Corp. |
2,655 | 168,088 | ||||||
Texas Roadhouse, Inc. |
8,791 | 218,456 | ||||||
Titan International, Inc. |
8,496 | 137,975 | ||||||
TJX Cos, Inc. |
3,894 | 205,292 | ||||||
Tractor Supply Co. |
1,652 | 202,155 | ||||||
TRW Automotive Holdings Corp. (a) |
2,950 | 203,757 | ||||||
Ulta Salon Cosmetics & Fragrance, Inc. (a) |
1,947 | 193,220 | ||||||
Under Armour, Inc., Class A (a) |
3,422 | 248,574 | ||||||
UniFirst Corp. |
2,006 | 192,335 | ||||||
US Airways Group, Inc. (a) |
11,741 | 189,735 | ||||||
Vera Bradley, Inc. (a) |
7,276 | 142,901 | ||||||
VF Corp. |
1,062 | 198,817 | ||||||
Vitamin Shoppe, Inc. (a) |
3,363 | 141,650 | ||||||
Wabash National Corp. (a) |
18,290 | 190,582 | ||||||
WABCO Holdings, Inc. (a) |
2,478 | 193,259 | ||||||
Wal-Mart Stores, Inc. |
2,360 | 172,233 | ||||||
Williams-Sonoma, Inc. |
3,835 | 216,332 | ||||||
World Fuel Services Corp. |
4,484 | 171,065 | ||||||
WW Grainger, Inc. |
767 | 189,717 | ||||||
Wyndham Worldwide Corp. |
2,832 | 168,108 | ||||||
Zumiez, Inc. (a) |
7,906 | 211,090 | ||||||
|
|
|||||||
Total Consumer, Cyclical |
18,330,190 | |||||||
|
|
|||||||
Consumer, Non-Cyclical (22.91%) |
||||||||
Aarons, Inc. |
6,195 | 167,699 | ||||||
Abaxis, Inc. |
4,012 | 157,190 | ||||||
Acorda Therapeutics, Inc. (a) |
5,723 | 193,380 | ||||||
Air Methods Corp. |
3,599 | 147,271 | ||||||
Akorn, Inc. (a) |
12,567 | 225,829 | ||||||
Alexion Pharmaceuticals, Inc. (a) |
1,888 | 203,451 | ||||||
Allergan, Inc. |
1,593 | 140,789 | ||||||
Alliance Data Systems Corp. (a) |
1,121 | 219,380 | ||||||
Altria Group, Inc. |
5,133 | 173,906 | ||||||
American Public Education, Inc. (a) |
5,369 | 214,867 | ||||||
Amgen, Inc. |
1,888 | 205,679 | ||||||
Arbitron, Inc. |
3,717 | 174,922 | ||||||
Automatic Data Processing, Inc. |
2,773 | 197,327 |
Security Description | Shares | Value | ||||||||
Consumer, Non-Cyclical (continued) |
||||||||||
Avis Budget Group, Inc. (a) |
6,844 | $ | 183,214 | |||||||
Barrett Business Services, Inc. |
3,717 | 238,892 | ||||||||
Baxter International, Inc. |
2,537 | 176,474 | ||||||||
Becton Dickinson and Co. |
1,947 | 189,599 | ||||||||
Biogen Idec, Inc. (a) |
1,003 | 213,659 | ||||||||
Bio-Reference Labs, Inc. (a) |
6,372 | 184,342 | ||||||||
Cambrex Corp. (a) |
14,054 | 191,556 | ||||||||
Cardtronics, Inc. (a) |
6,490 | 225,138 | ||||||||
Celgene Corp. (a) |
1,593 | 222,988 | ||||||||
Church & Dwight Co., Inc |
2,832 | 168,079 | ||||||||
Cigna Corp. |
2,950 | 232,136 | ||||||||
Clorox Co. |
2,065 | 170,776 | ||||||||
Colgate-Palmolive Co. |
3,009 | 173,830 | ||||||||
Cubist Pharmaceuticals, Inc. (a) |
3,658 | 231,771 | ||||||||
Cyberonics, Inc. (a) |
3,599 | 183,081 | ||||||||
Deluxe Corp. |
4,366 | 171,802 | ||||||||
Edwards Lifesciences Corp. (a) |
1,947 | 137,030 | ||||||||
Emergent Biosolutions, Inc. (a) |
11,446 | 201,221 | ||||||||
Estee Lauder Cos, Inc., Class A |
2,655 | 173,531 | ||||||||
FleetCor Technologies, Inc. (a) |
2,478 | 255,508 | ||||||||
Fresh Market, Inc. (a) |
4,425 | 215,984 | ||||||||
Gartner, Inc. (a) |
3,422 | 198,373 | ||||||||
Gilead Sciences, Inc. (a) |
3,894 | 234,691 | ||||||||
Grand Canyon Education, Inc. (a) |
7,316 | 252,475 | ||||||||
Green Mountain Coffee Roasters, Inc. (a) |
3,363 | 290,260 | ||||||||
Heartland Payment Systems, Inc. |
5,841 | 215,825 | ||||||||
Helen of Troy, Ltd. (a) |
4,720 | 189,650 | ||||||||
Herbalife, Ltd. |
4,248 | 259,170 | ||||||||
Hershey Co. |
2,065 | 189,877 | ||||||||
Hi-Tech Pharmacal Co., Inc. |
4,838 | 208,566 | ||||||||
IDEXX Laboratories, Inc. (a) |
1,888 | 177,132 | ||||||||
Illumina, Inc. (a) |
3,245 | 252,590 | ||||||||
Impax Laboratories, Inc. (a) |
10,856 | 221,245 | ||||||||
Ingredion, Inc. |
2,596 | 163,392 | ||||||||
Intuitive Surgical, Inc. (a) |
354 | 136,828 | ||||||||
J&J Snack Foods Corp. |
2,478 | 190,608 | ||||||||
Magellan Health Services, Inc. (a) |
3,245 | 182,401 | ||||||||
Mastercard, Inc., Class A |
354 | 214,552 | ||||||||
MAXIMUS, Inc. |
4,508 | 169,095 | ||||||||
Mead Johnson Nutrition Co. |
2,301 | 172,644 | ||||||||
Medifast, Inc. (a) |
7,139 | 177,476 | ||||||||
Medtronic, Inc. |
3,785 | 195,873 | ||||||||
Meridian Bioscience, Inc. |
8,083 | 181,787 | ||||||||
Monster Beverage Corp. (a) |
3,658 | 209,933 | ||||||||
Moodys Corp. |
3,481 | 221,252 | ||||||||
Mylan, Inc. (a) |
5,664 | 200,166 | ||||||||
Myriad Genetics, Inc. (a) |
6,962 | 182,196 | ||||||||
Paychex, Inc. |
5,133 | 198,544 | ||||||||
PepsiCo, Inc. |
2,242 | 178,755 | ||||||||
Perrigo Co. |
1,534 | 186,458 | ||||||||
Pharmacyclics, Inc. (a) |
1,829 | 203,934 | ||||||||
Philip Morris International, Inc. |
1,888 | 157,535 | ||||||||
Prestige Brands Holdings, Inc. (a) |
7,198 | 233,719 | ||||||||
Procter & Gamble Co. |
2,242 | 174,629 |
Security Description | Shares | Value | ||||||
Consumer, Non-Cyclical (continued) |
||||||||
Quanta Services, Inc. (a) |
5,959 | $ | 155,768 | |||||
Questcor Pharmaceuticals, Inc. |
5,664 | 377,676 | ||||||
Regeneron Pharmaceuticals, Inc. (a) |
1,003 | 243,037 | ||||||
ResMed, Inc. |
4,012 | 189,527 | ||||||
Robert Half International, Inc. |
4,838 | 170,636 | ||||||
Rollins, Inc. |
7,139 | 176,690 | ||||||
Salix Pharmaceuticals, Ltd. (a) |
3,540 | 236,968 | ||||||
Santarus, Inc. (a) |
11,387 | 256,435 | ||||||
Spectrum Pharmaceuticals, Inc. |
14,991 | 114,831 | ||||||
STERIS Corp. |
4,425 | 180,938 | ||||||
Stryker Corp. |
2,655 | 177,593 | ||||||
Team, Inc. (a) |
3,776 | 147,264 | ||||||
Thoratec Corp. (a) |
4,897 | 174,970 | ||||||
Towers Watson & Co., Class A |
2,596 | 213,521 | ||||||
United Therapeutics Corp. (a) |
2,832 | 200,817 | ||||||
UnitedHealth Group, Inc. |
3,245 | 232,796 | ||||||
USANA Health Sciences, Inc. (a) |
3,658 | 277,825 | ||||||
Varian Medical Systems, Inc. (a) |
2,419 | 170,419 | ||||||
Verisk Analytics, Inc., Class A (a) |
2,950 | 183,431 | ||||||
WD-40 Co. |
3,186 | 185,361 | ||||||
Western Union Co. |
12,095 | 212,025 | ||||||
|
|
|||||||
Total Consumer, Non-Cyclical |
17,462,460 | |||||||
|
|
|||||||
Diversified Financial Services (0.20%) |
||||||||
Credit Acceptance Corp. (a) |
1,416 | 152,291 | ||||||
|
|
|||||||
Total Diversified Financial Services |
152,291 | |||||||
|
|
|||||||
Energy (5.31%) |
||||||||
Atwood Oceanics, Inc. (a) |
3,540 | 197,107 | ||||||
C&J Energy Services, Inc. (a) |
7,611 | 156,254 | ||||||
Cameron International Corp. (a) |
2,714 | 154,128 | ||||||
CARBO Ceramics, Inc. |
1,888 | 154,042 | ||||||
Chevron Corp. |
1,475 | 177,634 | ||||||
CVR Energy, Inc. |
3,196 | 136,853 | ||||||
Delek US Holdings, Inc. |
4,484 | 111,472 | ||||||
Ensco Plc, Class A |
3,009 | 167,180 | ||||||
Exxon Mobil Corp. |
1,947 | 169,701 | ||||||
Geospace Technologies Corp. (a) |
1,593 | 111,128 | ||||||
Halliburton Co. |
4,189 | 201,072 | ||||||
Helmerich & Payne, Inc. |
2,655 | 167,371 | ||||||
HollyFrontier Corp. |
3,068 | 136,465 | ||||||
Marathon Petroleum Corp. |
1,947 | 141,177 | ||||||
Noble Energy, Inc. |
3,074 | 188,836 | ||||||
Oceaneering International, Inc. |
2,773 | 215,129 | ||||||
Oil States International, Inc. (a) |
2,242 | 200,031 | ||||||
Phillips 66 |
2,655 | 151,601 | ||||||
Rex Energy Corp. (a) |
12,213 | 254,030 | ||||||
Rosetta Resources, Inc. (a) |
3,481 | 161,971 | ||||||
RPC, Inc. |
10,738 | 153,339 | ||||||
Superior Energy Services, Inc. (a) |
6,549 | 160,843 | ||||||
Synergy Resources Corp. (a) |
25,842 | 241,881 | ||||||
Tesoro Corp. |
3,009 | 138,685 | ||||||
|
|
|||||||
Total Energy |
4,047,930 | |||||||
|
|
Security Description | Shares | Value | ||||||
Financial (11.43%) |
||||||||
Alleghany Corp. (a) |
472 | $ | 182,706 | |||||
American Express Co. |
2,714 | 195,164 | ||||||
Ameriprise Financial, Inc. |
2,478 | 213,480 | ||||||
Amtrust Financial Services, Inc. |
5,448 | 194,603 | ||||||
Bank of Hawaii Corp. |
3,540 | 182,310 | ||||||
BB&T Corp. |
5,605 | 190,346 | ||||||
BofI Holding, Inc. (a) |
4,956 | 321,000 | ||||||
BOK Financial Corp. |
2,891 | 185,284 | ||||||
Brookline Bancorp, Inc. |
18,703 | 169,262 | ||||||
CapitalSource, Inc. |
18,538 | 214,113 | ||||||
Cardinal Financial Corp. |
10,030 | 164,893 | ||||||
CBOE Holdings, Inc. |
4,838 | 222,016 | ||||||
Cohen & Steers, Inc. |
4,956 | 154,627 | ||||||
Columbia Banking System, Inc. |
8,378 | 194,370 | ||||||
Commerce Bancshares, Inc. |
4,543 | 196,212 | ||||||
Discover Financial Services |
4,189 | 197,930 | ||||||
East West Bancorp, Inc. |
6,903 | 201,775 | ||||||
Encore Capital Group, Inc. (a) |
5,547 | 237,799 | ||||||
Erie Indemnity Co., Class A |
2,360 | 174,074 | ||||||
Fidelity National Financial, Inc., Class A |
6,903 | 163,670 | ||||||
Fifth Third Bancorp |
10,738 | 196,398 | ||||||
First American Financial Corp. |
7,080 | 147,972 | ||||||
First Financial Bankshares, Inc. |
3,717 | 213,728 | ||||||
Franklin Resources, Inc. |
3,550 | 163,868 | ||||||
Greenlight Capital Re, Ltd., Class A (a) |
7,198 | 193,266 | ||||||
Hanmi Financial Corp. |
10,443 | 170,534 | ||||||
Higher One Holdings, Inc. (a) |
19,293 | 143,154 | ||||||
Home BancShares, Inc. |
10,030 | 254,962 | ||||||
HomeStreet, Inc. |
6,844 | 134,348 | ||||||
Huntington Bancshares, Inc. |
23,718 | 195,436 | ||||||
JPMorgan Chase & Co. |
3,422 | 172,914 | ||||||
MarketAxess Holdings, Inc. |
4,425 | 224,613 | ||||||
Ocwen Financial Corp. (a) |
4,248 | 214,269 | ||||||
Oritani Financial Corp. |
11,517 | 178,629 | ||||||
Outerwall, Inc. (a) |
3,304 | 205,410 | ||||||
Portfolio Recovery Associates, Inc. (a) |
4,248 | 225,314 | ||||||
Reinsurance Group of America, Inc. |
2,950 | 191,190 | ||||||
Signature Bank (a) |
2,301 | 201,844 | ||||||
Stewart Information Services Corp. |
6,903 | 211,162 | ||||||
SVB Financial Group (a) |
2,537 | 210,064 | ||||||
T Rowe Price Group, Inc. |
2,301 | 161,392 | ||||||
ViewPoint Financial Group, Inc. |
8,319 | 165,465 | ||||||
Webster Financial Corp. |
7,434 | 196,704 | ||||||
Wells Fargo & Co. |
4,779 | 196,321 | ||||||
World Acceptance Corp. (a) |
2,183 | 187,018 | ||||||
|
|
|||||||
Total Financial |
8,711,609 | |||||||
|
|
|||||||
Industrial (13.51%) |
||||||||
3M Co. |
1,652 | 187,634 | ||||||
Agilent Technologies, Inc. |
4,012 | 187,120 | ||||||
Albany International Corp., Class A |
5,900 | 190,393 | ||||||
American Railcar Industries, Inc. |
3,835 | 135,644 | ||||||
AMETEK, Inc. |
4,130 | 177,260 | ||||||
Amphenol Corp., Class A |
2,419 | 183,288 |
Security Description | Shares | Value | ||||||
Industrial (continued) |
||||||||
Applied Industrial Technologies, Inc. |
3,953 | $ | 188,242 | |||||
AZZ, Inc. |
3,745 | 140,587 | ||||||
Boeing Co. |
2,124 | 220,726 | ||||||
CAI International, Inc. (a) |
6,136 | 134,501 | ||||||
Carlisle Cos, Inc. |
2,537 | 168,964 | ||||||
Caterpillar, Inc. |
1,947 | 160,705 | ||||||
Celadon Group, Inc. |
8,559 | 155,260 | ||||||
CH Robinson Worldwide, Inc. |
3,068 | 174,477 | ||||||
CSX Corp. |
7,670 | 188,759 | ||||||
Cummins, Inc. |
1,475 | 181,720 | ||||||
Deere & Co. |
1,947 | 162,847 | ||||||
DXP Enterprises, Inc. (a) |
2,478 | 168,454 | ||||||
Emerson Electric Co. |
3,068 | 185,215 | ||||||
FEI Co. |
2,714 | 212,452 | ||||||
Gentex Corp. |
9,145 | 206,037 | ||||||
Graco, Inc. |
3,009 | 209,095 | ||||||
Hexcel Corp. (a) |
6,195 | 220,357 | ||||||
Illinois Tool Works, Inc. |
2,773 | 198,186 | ||||||
InvenSense, Inc. (a) |
15,163 | 270,962 | ||||||
JB Hunt Transport Services, Inc. |
2,537 | 182,664 | ||||||
Joy Global, Inc. |
2,832 | 139,108 | ||||||
Knight Transportation, Inc. |
10,974 | 178,657 | ||||||
Lincoln Electric Holdings, Inc. |
3,099 | 193,780 | ||||||
Lindsay Corp. |
1,947 | 148,011 | ||||||
LSB Industries, Inc. (a) |
4,366 | 131,067 | ||||||
Mettler-Toledo International, Inc. (a) |
826 | 181,910 | ||||||
Middleby Corp. (a) |
1,180 | 219,410 | ||||||
Movado Group, Inc. |
4,602 | 196,091 | ||||||
NACCO Industries, Inc., Class A |
3,127 | 173,799 | ||||||
Nordson Corp. |
2,655 | 176,956 | ||||||
Norfolk Southern Corp. |
2,360 | 170,298 | ||||||
Proto Labs, Inc. (a) |
3,599 | 255,674 | ||||||
Rockwell Automation, Inc. |
1,888 | 183,570 | ||||||
Rogers Corp. (a) |
3,599 | 199,637 | ||||||
Smith & Wesson Holding Corp. (a) |
17,582 | 192,347 | ||||||
Snap-on, Inc. |
2,124 | 198,807 | ||||||
Sturm Ruger & Co., Inc |
3,068 | 160,671 | ||||||
Swift Transportation Co. (a) |
12,839 | 230,588 | ||||||
TAL International Group, Inc. |
4,071 | 174,239 | ||||||
Taser International, Inc. (a) |
21,771 | 253,413 | ||||||
Textainer Group Holdings, Ltd. |
4,248 | 148,085 | ||||||
Timken Co. |
3,068 | 171,992 | ||||||
TransDigm Group, Inc. |
1,188 | 162,756 | ||||||
Triumph Group, Inc. |
2,360 | 169,849 | ||||||
Union Pacific Corp. |
1,248 | 191,618 | ||||||
Valmont Industries, Inc. |
1,062 | 143,328 | ||||||
Wabtec Corp. |
3,540 | 207,161 | ||||||
Waters Corp. (a) |
1,829 | 180,797 | ||||||
Worthington Industries, Inc. |
5,900 | 196,647 | ||||||
Zebra Technologies Corp., Class A (a) |
3,894 | 177,566 | ||||||
|
|
|||||||
Total Industrial |
10,299,381 | |||||||
|
|
|||||||
Technology (10.85%) |
||||||||
3D Systems Corp. (a) |
5,251 | 269,900 |
Security Description | Shares | Value | ||||||
Technology (continued) |
||||||||
Accenture Plc, Class A |
2,242 | $ | 161,985 | |||||
Activision Blizzard, Inc. |
11,623 | 189,687 | ||||||
Apple, Inc. |
413 | 201,152 | ||||||
Cadence Design Systems, Inc. (a) |
11,977 | 161,330 | ||||||
Cerner Corp. (a) |
3,776 | 173,923 | ||||||
Cirrus Logic, Inc. (a) |
7,560 | 170,100 | ||||||
Citrix Systems, Inc. (a) |
2,360 | 167,017 | ||||||
Cognizant Technology Solutions Corp., Class A (a) |
2,183 | 160,014 | ||||||
CommVault Systems, Inc. (a) |
2,301 | 192,893 | ||||||
Computer Programs & Systems, Inc. |
3,304 | 181,588 | ||||||
Cray, Inc. (a) |
8,673 | 212,142 | ||||||
Ebix, Inc. |
11,151 | 126,787 | ||||||
EMC Corp. |
7,257 | 187,085 | ||||||
EPAM Systems, Inc. (a) |
7,434 | 237,739 | ||||||
Fortinet, Inc. (a) |
7,257 | 143,689 | ||||||
iGATE Corp. (a) |
8,850 | 206,648 | ||||||
Intel Corp. |
7,965 | 175,071 | ||||||
International Business Machines Corp. |
826 | 150,555 | ||||||
Intuit, Inc. |
2,537 | 161,176 | ||||||
j2 Global, Inc. |
4,661 | 229,507 | ||||||
Jack Henry & Associates, Inc. |
3,894 | 194,311 | ||||||
KLA-Tencor Corp. |
3,186 | 175,708 | ||||||
Kulicke & Soffa Industries, Inc. (a) |
15,694 | 173,576 | ||||||
LSI Corp. |
25,519 | 189,096 | ||||||
Manhattan Associates, Inc. (a) |
2,360 | 206,500 | ||||||
Medidata Solutions, Inc. (a) |
3,245 | 290,232 | ||||||
Mentor Graphics Corp. |
10,207 | 226,187 | ||||||
MICROS Systems, Inc. (a) |
4,130 | 201,957 | ||||||
Microsoft Corp. |
6,195 | 206,913 | ||||||
Monotype Imaging Holdings, Inc. |
7,800 | 200,850 | ||||||
NVIDIA Corp. |
13,629 | 201,027 | ||||||
Oracle Corp. |
4,838 | 154,139 | ||||||
Pitney Bowes, Inc. |
12,390 | 202,205 | ||||||
QUALCOMM, Inc. |
2,596 | 172,063 | ||||||
Rudolph Technologies, Inc. (a) |
15,222 | 157,548 | ||||||
Seagate Technology Plc |
5,428 | 208,001 | ||||||
Skyworks Solutions, Inc. (a) |
8,260 | 209,473 | ||||||
SolarWinds, Inc. (a) |
2,950 | 107,528 | ||||||
Syntel, Inc. |
2,773 | 199,296 | ||||||
Teradata Corp. (a) |
3,009 | 176,207 | ||||||
Ultratech, Inc. (a) |
4,189 | 118,465 | ||||||
Virtusa Corp. (a) |
7,906 | 208,086 | ||||||
Western Digital Corp. |
3,658 | 226,795 | ||||||
|
|
|||||||
Total Technology |
8,266,151 | |||||||
|
|
|||||||
Utilities (0.39%) |
||||||||
Pike Electric Corp. |
11,918 | 132,290 | ||||||
Questar Corp. |
7,375 | 161,660 | ||||||
|
|
|||||||
Total Utilities |
293,950 | |||||||
|
|
|||||||
TOTAL COMMON STOCKS |
||||||||
(Cost $74,591,338) |
75,832,338 | |||||||
|
|
(a) | Non-income producing security. |
(b) | Less than 0.0005%. |
Common Abbreviations:
LLC - Limited Liability Company.
Ltd. - Limited.
Plc - Public Limited Company.
See Notes to Quarterly Statement of Investments.
ALPS ETF Trust
Notes to Quarterly Statement of Investments (unaudited)
1. Portfolio Valuation
All Funds Shares are listed on the New York Stock Exchange (NYSE), with the exception of VelocityShares Emerging Markets DR ETF, VelocityShares Russia Select DR ETF and VelocityShares Emerging Asia DR ETF which are listed on The NASDAQ Stock Market LLC (NASDAQ). The Funds Net Asset Value (NAV) is determined daily, as of the close of regular trading on the listed exchange, normally 4:00 p.m. Eastern time, on each day the NYSE or NASDAQ are open for trading. The NAV is computed by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.
Portfolio securities listed on any exchange other than the National Association of Securities Dealer Automated Quotation (NASDAQ) exchange are valued at the last sale price on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the most recent bid and asked prices on such day. Securities traded on the NASDAQ are valued at the NASDAQ Official Closing Price as determined by NASDAQ. Portfolio securities traded on more than one securities exchange are valued at the last sale price on the business day as of which such value is being determined at the close of the exchange representing the principal market for such securities. Portfolio securities traded in the over-the-counter market, but excluding securities traded on the NASDAQ, are valued at the closing bid prices. Short-term investments that mature in less than 60 days are valued at amortized cost, which approximates market value.
U.S. Equity High Volatility Put Write Index Funds listed put options are valued at the mean of the most recent bid and asked prices. Other equity securities that are traded in over the counter markets are valued at the NASDAQ Official Closing Price as of the close of regular trading on the NYSE on the day the securities are valued or, if there are no sales, at the mean of the most recent bid and asked prices.
The Funds investments are valued at market value or, in the absence of market value with respect to any portfolio securities, at fair value according to procedures adopted by the Trusts Board of Trustees (the Board). When market quotations are not readily available or when events occur that make established valuation methods unreliable, securities of the Fund may be valued in good faith by or under the direction of the Board. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market price is not available from a pre-established primary pricing source or the pricing source is not willing to provide a price; a security with respect to which an event has occurred that is most likely to materially affect the value of the security after the market has closed but before the calculation of the Funds NAV or make it difficult or impossible to obtain a reliable market quotation; or a security whose price, as provided by the pricing service, does not reflect the securitys fair value due to the security being de-listed from a national exchange or the securitys primary trading market is temporarily closed at a time when, under normal conditions, it would be open. As a general principle, the current fair value of a security would be the amount which the owner might reasonably expect to receive from the closing sale prices on the applicable exchange and fair value prices may not reflect the actual value of a security. A variety of factors may be considered in determining the fair value of such securities.
The accounting records of the Funds are maintained in U.S. dollars.
Some of the Funds invest in foreign securities which may involve a number of risk factors and special considerations not present with investments in securities of U.S. corporations. Investment in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers. These risks may include, but are not limited to: (i) less information about non-U.S. issuers or markets may be available due to less rigorous disclosure, accounting standards or regulatory practices; (ii) many non-U.S. markets are smaller, less liquid and more volatile thus, in a changing market, the advisers may not be able to sell the Funds portfolio securities at times, in amounts and at prices they consider reasonable; (iii) currency exchange rates or controls may adversely affect the value of the Funds investments; (iv) the economies of non-U.S. countries may grow at slower rates than expected or may experience downturns or recessions; and, (v) withholdings and other non-U.S. taxes may decrease the Funds return.
Because foreign markets may be open on different days than the days during which investors may purchase the shares of each Fund, the value of the Funds securities may change on the days when investors are not able to purchase the shares of the Funds. The value of securities denominated in foreign currencies is converted into U.S. dollars using exchange rates determined daily as of the close of regular trading on the NYSE. Any use of a different rate from the rates used by the Index may adversely affect the Funds ability to track their Index.
2. Fair Value Measurements
The Funds disclose the classification of their fair value measurements following a three-tier hierarchy based on the inputs used to measure fair value. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entitys own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available.
Various inputs are used in determining the value of the Funds investments as of the end of the reporting period. When inputs used fall into different levels of the fair value hierarchy, the level in the hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments. These inputs are categorized in the following hierarchy under applicable financial accounting standards:
Level 1 Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that a Fund has the ability to access at the measurement date; |
Level 2 Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and |
Level 3 Significant unobservable prices or inputs (including the Funds own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date. |
The following is a summary of the inputs used as of August 31, 2013 in valuing the Funds assets:
Cohen & Steers Global Realty Majors ETF
Investments in Securities at Value* |
Level 1 -
Prices
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Common Stocks |
$ | 104,528,633 | $ | - | $ | - | $ | 104,528,633 | ||||||||
Short Term Investments |
158,642 | - | - | 158,642 | ||||||||||||
TOTAL |
$ | 104,687,275 | $ | - | $ | - | $ | 104,687,275 |
ALPS Equal Sector Weight ETF
Investments in Securities at Value* |
Level 1 -
Prices
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Exchange Traded Funds |
$ | 109,485,011 | $ | - | $ | - | $ | 109,485,011 | ||||||||
Short Term Investments |
65,120 | - | - | 65,120 | ||||||||||||
TOTAL |
$ | 109,550,131 | $ | - | $ | - | $ | 109,550,131 |
Jefferies | TR/J CRB Global Commodity Equity Index Fund
Investments in Securities at Value* |
Level 1 -
Prices
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Common Stocks |
||||||||||||||||
Cayman Islands |
$ | - | $ | 449 | $ | - | $ | 449 | ||||||||
Other* |
62,975,905 | - | - | 62,975,905 | ||||||||||||
Short Term Investments |
150,351 | - | - | 150,351 | ||||||||||||
TOTAL |
$ | 63,126,256 | $ | 449 | $ | - | $ | 63,126,705 |
Alerian MLP ETF
Investments in Securities at Value* |
Level 1 -
Prices
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Master Limited Partnerships Shares |
$ | 7,228,613,220 | $ | - | $ | - | $ | 7,228,613,220 | ||||||||
Short Term Investments |
7,978,505 | - | - | 7,978,505 | ||||||||||||
TOTAL |
$ | 7,236,591,725 | $ | - | $ | - | $ | 7,236,591,725 |
ALPS Sector Dividend Dogs ETF
Investments in Securities at Value* |
Level 1
-
Prices |
Level 2 - Other
|
Level 3 -
Significant
|
Total |
||||||||||||
Common Stocks |
$ | 348,843,164 | $ | - | $ | - | $ | 348,843,164 | ||||||||
Short Term Investments |
1,177,523 | - | - | 1,177,523 | ||||||||||||
TOTAL |
$ | 350,020,687 | $ | - | $ | - | $ | 350,020,687 |
ALPS International Sector Dividend Dogs ETF
Investments in Securities at Value* |
Level 1 -
Prices |
Level 2 - Other
|
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Common Stocks |
$ | 14,390,389 | $ | - | $ | - | $ | 14,390,389 | ||||||||
Short Term Investments |
4,736 | - | - | 4,736 | ||||||||||||
TOTAL |
$ | 14,395,125 | $ | - | $ | - | $ | 14,395,125 |
U.S. Equity High Volatility Put Write Index Fund
ALPS | GS Momentum Builder ® Multi-Asset Index ETF
Investments in Securities at Value* |
Level 1
-
|
Level 2 - Other
|
Level 3
-
|
Total | ||||||||||||
Exchange Traded Funds |
$ | 12,370,187 | $ | - | $ | - | $ | 12,370,187 | ||||||||
TOTAL |
$ | 12,370,187 | $ | - | $ | - | $ | 12,370,187 |
ALPS | GS Momentum Builder ® Asia ex-Japan Equities and U.S. Treasuries Index ETF
Investments in Securities at Value* |
Level 1 -
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Exchange Traded Funds |
$ | 8,796,172 | $ | - | $ | - | $ | 8,796,172 | ||||||||
TOTAL |
$ | 8,796,172 | $ | - | $ | - | $ | 8,796,172 |
ALPS | GS Risk-Adjusted Return U.S. Large Cap Index ETF
Investments in Securities at Value* |
Level 1
-
|
Level 2 - Other
Significant Observable Inputs |
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Common Stocks |
$ | 11,511,685 | $ | - | $ | - | $ | 11,511,685 | ||||||||
Short Term Investments |
9,023 | - | - | 9,023 | ||||||||||||
TOTAL |
$ | 11,520,708 | $ | - | $ | - | $ | 11,520,708 |
VelocityShares Emerging Markets DR ETF
Investments in Securities at Value* |
Level 1 -
Unadjusted Quoted Prices |
Level 2 - Other
|
Level 3 -
Significant
|
Total | ||||||||||||
Common Stocks |
$ | 2,074,918 | $ | - | $ | - | $ | 2,074,918 | ||||||||
Preferred Stock |
225,644 | - | - | 225,644 | ||||||||||||
Short Term Investments |
4,048 | - | - | 4,048 | ||||||||||||
TOTAL |
$ | 2,304,610 | $ | - | $ | - | $ | 2,304,610 | ||||||||
VelocityShares Russia Select DR ETF
|
|
|||||||||||||||
Investments in Securities at Value* |
Level 1 -
Unadjusted Quoted Prices |
Level 2 - Other
|
Level 3 -
Significant
|
Total | ||||||||||||
Common Stocks |
$ | 2,364,709 | $ | - | $ | - | $ | 2,364,709 | ||||||||
Short Term Investments |
2,966 | - | - | 2,966 | ||||||||||||
TOTAL |
$ | 2,367,675 | $ | - | $ | - | $ | 2,367,675 |
VelocityShares Emerging Asia DR ETF
VelocityShares Volatility Hedged Large Cap ETF
Investments in Securities at Value* |
Level
1 -
Prices |
Level 2 - Other
|
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Exchange Traded Funds |
$ | 4,357,013 | $ | - | $ | - | $ | 4,357,013 | ||||||||
Short Term Investments |
774,019 | - | - | 774,019 | ||||||||||||
TOTAL |
$ | 5,131,032 | $ | - | $ | - | $ | 5,131,032 | ||||||||
Other Financial Instruments** |
||||||||||||||||
Liabilities |
||||||||||||||||
Total Return Swap Contracts |
$ | (13,615 | ) | $ | - | $ | - | $ | (13,615 | ) | ||||||
TOTAL |
$ | (13,615 | ) | $ | - | $ | - | $ | (13,615 | ) | ||||||
Barrons 400 ETF
|
|
|||||||||||||||
Investments in Securities at Value* |
Level 1
-
Prices |
Level 2 - Other
|
Level 3 -
Significant Unobservable Inputs |
Total | ||||||||||||
Common Stocks |
$ | 75,832,338 | $ | - | $ | - | $ | 75,832,338 | ||||||||
Short Term Investments |
326,128 | - | - | 326,128 | ||||||||||||
TOTAL |
$ | 76,158,466 | $ | - | $ | - | $ | 76,158,466 |
*For detailed descriptions, see the accompanying Statement of Investments.
**Other financial instruments are instruments not reflected in the Statement of Investments, such as written options and swaps.
Each Fund recognizes transfers between levels as of the end of the period. For the period ended August 31, 2013, the Funds did not have any significant transfers between Level 1 and Level 2 securities. The Funds did not have any securities which used significant unobservable inputs (Level 3) in determining fair value.
3. Derivative Instruments and Hedging Activities
The following discloses the Funds use of derivative instruments and hedging activities. Derivatives are financial contracts whose value depends on, or is derived from, the value of an underlying asset, reference rate or index, and may relate to stocks, bonds, interest rates, currencies or currency exchange rates, commodities, and related indexes. Certain Funds investment objectives may permit the Fund to purchase investment securities but also allow certain Funds to enter into various types of derivative contracts, including, but not limited to, futures contracts, swap contracts, foreign currency transactions, and purchased and written options. In doing so, the Funds may employ strategies in differing combinations to permit them to increase, decrease, or change the level or types of exposure to market factors. Central to those strategies are features inherent to derivatives that make them more attractive for this purpose than equity or debt securities: they require little or no initial cash investment, they can focus exposure on only certain selected risk factors, and they may not require the ultimate receipt or delivery of the underlying security (or securities) to the contract. This may allow the Funds to pursue their objectives more quickly and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market factors. Each Fund may, but is not required to, use derivative instruments for risk management purposes or as part of its investment strategies.
A Funds use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivatives are subject to a number of risks including liquidity risk, market risk, credit risk, default risk, counterparty risk and management risk. They also involve the risk of mispricing or improper valuation and the risk that changes in the value of the derivative may not correlate exactly with the change in the value of the underlying asset, rate or index. Also, suitable derivative transactions may not be available in all circumstances and there can be no assurance that a Fund will engage in these transactions to reduce exposure to other risks when that would be beneficial.
Market Risk Factors: In pursuit of their investment objectives, certain Funds may seek to use derivatives to increase or decrease their exposure to the following market risk factors:
Credit Risk: Credit risk is the risk an issuer will be unable to make principal and interest payments when due, or will default on its obligations.
Equity Risk: Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market.
Interest Rate Risk: Interest rate risk refers to the fluctuations in value of fixed-income securities resulting from the inverse relationship between price and yield. For example, an increase in general interest rates will tend to reduce the market value of already issued fixed-income investments, and a decline in general interest rates will tend to increase the value of such investments. In addition, debt securities
with longer maturities, which tend to have higher yields, are subject to potentially greater fluctuations in value from changes in interest rates than obligations with shorter maturities.
Swaps: Swap agreements are contracts between parties in which one party agrees to make periodic payments to the other party (the Counterparty) based on the change in market value or level of a specified rate, index or asset. In return, the Counterparty agrees to make periodic payments to the first party based on the return of a different specified rate, index or asset. Swap agreements will usually be done on a net basis, the Funds receiving or paying only the net amount of the two payments. The net amount of the excess, if any, of the Funds obligations over its entitlements with respect to each swap is accrued on a daily basis and an amount of cash or highly liquid securities having an aggregate value at least equal to the accrued excess is maintained in an account at the Trusts custodian bank. The use of interest rate and index swaps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio security transactions. These transactions generally do not involve the delivery of securities or other underlying assets or principal. The use of swap agreements involves certain risks. For example, if the Counterparty under a swap agreement defaults on its obligation to make payments due from it, as a result of its bankruptcy or otherwise, the Funds may lose such payments altogether, or collect only a portion thereof, which collection could involve costs or delays.
Swap Risk: The VelocityShares Tail Risk Hedged Large Cap ETF and the VelocityShares Volatility Hedged Large Cap ETF Funds expects to use swap agreements in addition to other derivatives to obtain exposure to the Underlying Volatility ETFs and/or VIX Short-Term Futures Index as a means to achieve their investment objectives. A small percentage of swap contracts are cleared through a central clearinghouse. Most swap agreements provide that when the period payment dates for both parties are the same, the payments are made on a net basis (i.e., the two payment streams are netted out, with only the net amount paid by one party to the other). The Funds obligations or rights under a swap contract entered into on a net basis will generally be equal only to the net amount to be paid or received under the agreement, based on the relative values of the positions held by each counterparty. Most swap agreements are traded over the counter rather than being entered into or traded on exchanges and often there is no central clearing or guaranty function for swaps. Unlike in futures contracts, the counterparty to swap agreements or forward contracts is generally a single bank or other financial institution, rather than a clearing organization backed by a group of financial institutions.
As a result, the VelocityShares Tail Risk Hedged Large Cap ETF and the VelocityShares Volatility Hedged Large Cap ETF Funds are subject to credit risk with respect to amounts they expect to receive from counterparties to swaps entered into as part of the Funds principal investment strategy. If a counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Fund could suffer significant losses on these contracts and the value of an investors investment in the Fund may decline. The Fund seeks to mitigate these risks by generally requiring that the counterparties agree to post collateral for the benefit of the Fund, marked-to-market daily, in an amount approximately equal to what the counterparty owes the Fund. In the event of the bankruptcy of a counterparty, the Fund will have direct access to the collateral received from the counterparty. To the extent any such collateral is otherwise insufficient, the Funds will be exposed to counterparty risk as described above, including possible delays in recovering amounts as a result of bankruptcy proceedings. The Fund typically enters into swap transactions only with large, well capitalized and well established financial institutions. Swaps have terms that make them less marketable than futures contracts. Swaps are less marketable because they are not traded on an exchange, do not have uniform terms and conditions, and are
entered into based upon the creditworthiness of the parties and the availability of credit support, such as collateral, and in general, are not transferable without the consent of the counterparty. Swap agreements may entail breakage costs if terminated prior to the final maturity date.
If the Volatility Component has a dramatic intraday move in value that would cause a material decline in the Funds NAV, the terms of the swap may permit the counterparty to immediately close out the transaction with the Fund. In that event, it may not be possible for the Fund to enter into another swap agreement or to invest in other instruments necessary to achieve the desired exposure to the Underlying Volatility ETFs consistent with the Funds objective. This, in turn, may prevent the fund from achieving its investment objective, even if the value of the Funds benchmark reverses all or part of its intraday move by the end of the day.
Option Writing/Purchasing: The U.S. Equity High Volatility Put Write Index Fund (the Fund) seeks to track the performance of the NYSE Arca U.S. Equity High Volatility Put Write Index (the Index). The Funds investment objective permits the Fund to purchase derivative contracts, written options. In doing so, the Fund will employ strategies in differing combinations to permit them to increase, decrease, or change the level or types of exposure to market factors. Central to those strategies are features inherent to derivatives that make them more attractive for this purpose than equity or debt securities; they require little or no initial cash investment, they can focus exposure on only certain selected risk factors, and they may not require the ultimate receipt or delivery of the underlying security (or securities) to the contract. This may allow the Fund to pursue their objectives more quickly and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market factors.
Market Risk Factors : In pursuit of the U.S. Equity High Volatility Put Write Index Funds investment objective, the Fund will use derivatives to increase or decrease their exposure to the following market risk factors:
Equity Risk: The value of the options sold by the Fund is based on the value of the stocks underlying such options. Accordingly, the Fund is exposed to equity risk, which is the risk that the value of the stocks underlying options written by the Fund will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of such stock participate, or factors relating to specific companies. In such event, the value of the options sold by the Fund will likely decline. Additionally, if the value of the stocks underlying the options sold by the Fund increases, the Funds returns will not increase accordingly.
The U.S. Equity High Volatility Put Write Index Fund will seek to track the performance of the Index by selling listed 60-day put options in proportion to their weightings in the Index. By selling an option, the Fund will receive premiums from the buyer of the option, which will increase the Funds return if the option is not exercised and thus expires worthless. However, if the options underlying stock declines below the strike price, the option will finish in-the-money and the Fund will be required to buy the underlying stock at the strike price, effectively paying the buyer the difference between the strike price and the closing price. Therefore, by writing a put option, the Fund is exposed to the amount by which the price of the underlying stock is less than the strike price. Accordingly, the potential return to the Fund is limited to the amount of option premiums it receives, while the Fund can potentially lose up to the entire strike price of each option it sells. Further, if the value of the stocks underlying the options sold by the Fund increases, the Funds returns will not increase accordingly.
As the seller of a listed put option, the Fund incurs an obligation to buy the underlying instrument from the purchaser of the option at the options strike price, upon exercise by the option purchaser. If a listed put option sold by the Fund is exercised prior to the end of a 60-day period, the Fund will buy the underlying stock at the time of exercise and at the strike price, and will hold the stock until the end of the 60-day period. Each put option sold by the Fund will be covered through investments in three month Treasury bills at least equal to the Funds maximum liability under the option (i.e., the strike price). Every 60 days, the options included within the Index are exercised or expire and new option positions are established, and the Fund will enter into new option positions accordingly and sell any underlying stocks it owns as a result of the Funds prior option positions having been exercised. This 60-day cycle likely will cause the Fund to have frequent and substantial portfolio turnover. If the Fund receives additional inflows (and issues more Shares accordingly in large numbers known as Creation Units, as further defined herein) during a 60-day period, the Fund will sell additional listed put options which will be exercised or expire at the end of such 60-day period. Conversely, if the U.S. Equity High Volatility Put Write Index Fund redeems Shares in Creation Unit size during a 60-day period, the Fund will terminate the appropriate portion of the options it has sold accordingly.
Put Option Risk. Options are generally subject to volatile swings in price based on changes in value of the underlying instrument, and the options written by the Fund may be particularly subject to this risk because the underlying stocks are selected by the Index Provider to have high volatility. The Fund will incur a form of economic leverage through its use of options, which will increase the volatility of the Funds returns and may increase the risk of loss to the Fund. While the Fund will collect premiums on the options it writes, the Funds risk of loss if one or more of its options is exercised and expires in-the-money may substantially outweigh the gains to the Fund from the receipt of such option premiums. The Fund will either earmark or segregate sufficient liquid assets to cover its obligations under each option on an ongoing basis. Moreover, the options sold by the Fund may have imperfect correlation to the returns of their underlying stocks.
Transactions in written put option contracts during the period ended August 31, 2013, were as follows:
U.S. Equity High Volatility Put Write Index Fund
Written Put Options | ||||||||
Contracts | Premiums | |||||||
Options Outstanding at February 27, 2013 (1) |
- | $ | - | |||||
Options Written |
(10,526) | 576,852 | ||||||
Options Expired |
4,847 | (241,193 | ) | |||||
Options Closed |
542 | (25,950 | ) | |||||
Options Outstanding at August 31, 2013 |
(5,137) | $ | (309,709 | ) | ||||
|
|
|||||||
Market Value at end of Period |
$ | (251,959 | ) | |||||
|
|
(1) | The Funds inception date was February 27, 2013. |
The average written option contracts volume and the average notional value during the period ended August 31, 2013, were as follows:
U.S. Equity High Volatility Put Write Index Fund
Average Written Option Contract Volume | Average Written Option Contract Notional Value | |
1,919 | $ 67,514 |
4. Unrealized Appreciation and Depreciation on Investments (Tax Basis)
As of August 31, 2013, the costs of investments for federal income tax purposes and accumulated net unrealized appreciation/(depreciation) on investments were as follows:
Cohen & Steers
ETF |
ALPS Equal
Sector Weight ETF |
Jefferies
| TR/J CRB
|
||||||||||
Gross appreciation (excess of value over tax cost) |
$ | 8,525,840 | $ | 17,583,005 | $ | 4,059,029 | ||||||
Gross depreciation (excess of tax cost over value) |
(3,397,212) | 0 | (17,495,075) | |||||||||
Net unrealized appreciation /(depreciation) |
$ | 5,128,628 | $ | 17,583,005 | $ | (13,436,046) | ||||||
Cost of investments for income tax purposes |
$ | 99,558,647 | $ | 91,967,126 | $ | 76,562,751 | ||||||
Alerian MLP ETF |
ALPS Sector
Dividend Dogs ETF |
ALPS International
Sector Dividend Dogs ETF |
||||||||||
Gross appreciation (excess of value over tax cost) |
$ | 1,878,192,219 | $ | 22,942,599 | $ | 197,192 | ||||||
Gross depreciation (excess of tax cost over value) |
(60,565,214) | (6,583,027) | (213,392) | |||||||||
Net unrealized appreciation /(depreciation) |
$ | 1,817,627,005 | $ | 16,359,572 | $ | (16,200) | ||||||
Cost of investments for income tax purposes |
$ | 5,418,964,720 | $ | 333,661,115 | $ | 14,411,325 |
U.S. Equity High
Volatility Put Write Index Fund |
ALPS /
GS
Momentum Builder ® Growth Markets Equities and U.S. Treasuries Index ETF |
ALPS / GS Momentum Builder ® Multi- Asset Index ETF |
||||||||||
Gross appreciation (excess of value over tax cost) |
$ | 27,771 | $ | 0 | $ | 160,402 | ||||||
Gross depreciation (excess of tax cost over value) |
(27,410) | (1,284) | (1,154) | |||||||||
Net unrealized appreciation /(depreciation) |
$ | 361 | $ | (1,284) | $ | 159,248 | ||||||
Cost of investments for income tax purposes |
$ | 12,899,279 | $ | 8,321,717 | $ | 12,210,939 | ||||||
ALPS / GS
Momentum Builder ® Asia ex-Japan Equities and U.S. Treasuries Index ETF |
ALPS / GS Risk-
Adjusted Return U.S. Large Cap Index ETF |
VelocityShares
Emerging Markets DR ETF |
||||||||||
Gross appreciation (excess of value over tax cost) |
$ | 0 | $ | 468,141 | $ | 81,933 | ||||||
Gross depreciation (excess of tax cost over value) |
(368,630) | (499,877) | (276,251) | |||||||||
Net unrealized appreciation /(depreciation) |
$ | (368,630) | $ | (31,736) | $ | (194,318) | ||||||
Cost of investments for income tax purposes |
$ | 9,164,802 | $ | 11,552,444 | $ | 2,498,928 |
VelocityShares
Russia Select DR ETF |
VelocityShares Emerging Asia DR ETF |
VelocityShares Tail
Risk Hedged Large Cap ETF |
||||||||||
Gross appreciation (excess of value over tax cost) |
$ | 77,130 | $ | 131,962 | $ | 27,622 | ||||||
Gross depreciation (excess of tax cost over value) |
(222,668) | (150,008) | 0 | |||||||||
Net unrealized appreciation /(depreciation) |
$ | (145,538) | $ | (18,046) | $ | 27,622 | ||||||
Cost of investments for income tax purposes |
$ | 2,513,213 | $ | 2,524,213 | $ | 1,255,486 |
VelocityShares
Hedged
Large
|
Barrons 400 ETF | |||||||
Gross appreciation (excess of value over tax cost) |
$ | 112,852 | $ | 3,137,197 | ||||
Gross depreciation (excess of tax cost over value) |
0 | (1,896,228) | ||||||
Net unrealized appreciation /(depreciation) |
$ | 112,852 | $ | 1,240,969 | ||||
Cost of investments for income tax purposes |
$ | 5,018,180 | $ | 74,917,497 |
5. Return of Capital Estimates
The Alerian MLP ETF (Alerian Fund) expects that a portion of the distributions it receives from Master Limited Partnerships (MLPs) may be treated as a tax-deferred return of capital, thus reducing the Alerian Funds current tax liability. Return of capital distributions are not taxable income to the shareholder, but reduce the investors tax basis in the investors Fund Shares. Such a reduction in tax basis will result in larger taxable gains and/or lower tax losses on a subsequent sale of Fund Shares. Shareholders who periodically receive the payment of dividends or other distributions consisting of a return of capital may be under the impression that they are receiving net profits from the Fund when, in fact, they are not. Shareholders should not assume that the source of the distributions is from the net profits of the Fund.
6. Master Limited Partnerships
MLPs are publicly traded partnerships engaged in the transportation, storage and processing of minerals and natural resources. By confining their operations to these specific activities, their interests, or units, are able to trade on public securities exchanges exactly like the shares of a corporation, without entity level taxation. Of the seventy MLPs eligible for inclusion in the Index, approximately two-thirds trade on the NYSE and the rest trade on the NASDAQ. To qualify as a MLP and to not be taxed as a corporation, a partnership must receive at least 90% of its income from qualifying sources as set forth in Section 7704(d) of the Internal Revenue Code of 1986, as amended (the Code). These qualifying sources include natural resource based activities such as the processing, transportation and storage of mineral or natural resources. MLPs generally have two classes of owners, the general partner and limited partners. The general partner of an MLP is typically owned by a major energy company, an investment fund, the direct management of the MLP, or is an entity owned by one or more of such parties. The general partner may be structured as a private or publicly traded corporation or other entity. The general partner typically controls the operations and management of the MLP through an up to 2% equity interest in the MLP plus, in many cases, ownership of common units and subordinated units. Limited partners typically own the remainder of the partnership, through ownership of common units, and have a limited role in the partnerships operations and management. MLPs are typically structured such that common units and general partner interests have first priority to receive quarterly cash distributions up to an established minimum amount (minimum quarterly distributions or MQD). Common and general partner interests also accrue arrearages in distributions to the extent the MQD is not paid. Once common and general partner interests have been paid, subordinated units receive distributions of up to the MQD; however, subordinated units do not accrue arrearages. Distributable cash in excess of the MQD is paid to both common and subordinated units and is distributed to both common and subordinated units generally on a pro rata basis. The general partner is also eligible to receive incentive distributions if the general partner operates the business in a manner which results in distributions paid per common unit surpassing specified target levels. As the general partner increases cash distributions to the limited partners, the general partner receives an increasingly higher percentage of the incremental cash distributions.
Item 2. Controls and Procedures.
(a) |
The registrants Principal Executive Officer and Principal Financial Officer have evaluated the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) within 90 days of this filing and have concluded that the registrants disclosure controls and procedures were effective, as of that date. |
(b) |
There was no change in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) during registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting. |
Item 3. Exhibits.
Separate certifications for the registrants Principal Executive Officer and Principal Financial Officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached as Exhibit 99 Cert.
-2-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ALPS ETF TRUST |
||||
By: |
/s/ Thomas A. Carter |
|||
Thomas A. Carter | ||||
President (Principal Executive Officer) | ||||
Date: |
October 29, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: |
/s/ Thomas A. Carter |
|||
Thomas A. Carter | ||||
President (Principal Executive Officer) | ||||
Date: |
October 29, 2013 |
By: |
/s/ Patrick D. Buchanan |
|||
Patrick D. Buchanan | ||||
Treasurer (Principal Financial Officer) | ||||
Date: |
October 29, 2013 |
-3-
1 Year Croghan Bancshares (QB) Chart |
1 Month Croghan Bancshares (QB) Chart |
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