Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)
March 25 2020 - 9:30AM
Edgar (US Regulatory)
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:
811-23226
Listed Funds Trust
(Exact name of registrant as specified in charter)
615 East Michigan Street
Milwaukee, WI 53202
(Address of principal executive offices) (Zip code)
Kent Barnes
U.S. Bank Global Fund Services
615 East Michigan Street
Milwaukee, WI 53202
(Name and address of agent for service)
Registrant's telephone number, including area code: (414) 765-6511
Copies to:
Laura E. Flores
John McGuire
Morgan Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, D.C. 20004-2541
Date of fiscal year end: April 30
Date of reporting period: January 31, 2020
Item 1. Schedule of Investments.
Schedule of Investments
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Core Alternative ETF
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January 31, 2020 (Unaudited)
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Number
of Shares
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Value
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COMMON STOCKS — 95.1%
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Communication Services — 2.1%
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AT&T, Inc.
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62,003
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$
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2,332,553
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Consumer Discretionary — 5.7%
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Genuine Parts Co.
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18,397
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1,721,407
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McDonald's Corp.
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10,975
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2,348,321
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Starbucks Corp.
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26,300
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2,231,029
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6,300,757
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Consumer Staples— 16.5%
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Altria Group, Inc.
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38,092
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1,810,513
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Diageo PLC - ADR (a)
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12,817
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2,024,445
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Dollar General Corp.
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15,660
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2,402,401
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Kimberly-Clark Corp.
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16,673
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2,388,241
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PepsiCo, Inc.
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16,696
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2,371,166
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Sysco Corp.
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29,709
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2,440,297
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The Procter & Gamble Co.
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19,202
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2,392,953
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Walmart, Inc.
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19,874
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2,275,374
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18,105,390
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Energy — 4.2%
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Chevron Corp.
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16,708
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1,790,095
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Exxon Mobil Corp.
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25,400
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1,577,848
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Occidental Petroleum Corp.
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31,293
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1,242,958
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4,610,901
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Financials — 14.4%
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Aflac, Inc.
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42,684
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2,201,214
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CME Group, Inc.
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11,565
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2,510,877
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Eaton Vance Corp.
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49,582
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2,268,376
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JPMorgan Chase & Co.
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18,126
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2,399,157
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Morgan Stanley
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45,318
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2,368,319
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US Bancorp (d)
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39,292
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2,091,120
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Wells Fargo & Co.
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42,390
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1,989,787
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15,828,850
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Health Care — 14.0%
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Abbott Laboratories
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25,936
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2,260,063
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Amgen, Inc.
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10,200
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2,203,710
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Anthem, Inc.
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7,174
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1,903,119
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Eli Lilly & Co.
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16,642
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2,323,889
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Johnson & Johnson
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15,410
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2,294,086
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Merck & Co., Inc.
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25,570
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2,184,701
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UnitedHealth Group, Inc.
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8,243
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2,245,805
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15,415,373
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Industrials — 12.9%
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Emerson Electric Co.
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29,425
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2,107,713
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L3Harris Technologies, Inc.
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11,509
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2,547,287
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Lockheed Martin Corp.
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6,021
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2,577,710
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Norfolk Southern Corp.
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10,884
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2,266,158
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United Technologies Corp.
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15,358
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2,306,772
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Waste Management, Inc.
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19,897
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2,421,465
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14,227,105
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Information Technology — 16.8%
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Accenture PLC - Class A (a)
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11,514
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2,362,788
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Apple, Inc.
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8,734
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2,703,260
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Broadridge Financial Solutions, Inc.
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18,978
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2,261,229
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Cisco Systems, Inc.
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37,828
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1,738,953
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FactSet Research Systems, Inc.
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8,310
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2,377,574
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Microsoft Corp.
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15,861
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2,700,018
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Oracle Corp.
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38,860
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2,038,207
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Paychex, Inc.
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25,980
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2,228,305
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18,410,334
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Materials — 3.6%
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3M Co.
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9,711
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1,540,747
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Air Products & Chemicals, Inc.
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10,260
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2,449,165
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3,989,912
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Utilities — 4.9%
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NextEra Energy, Inc.
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9,952
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2,669,126
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The Southern Co.
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38,790
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2,730,816
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5,399,942
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TOTAL COMMON STOCKS (Cost $86,108,607)
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104,621,117
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MONEY MARKET FUNDS — 1.5%
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First American Government Obligations Fund - Class X, 1.49% (b)
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1,634,073
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1,634,073
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TOTAL MONEY MARKET FUNDS (Cost $1,634,073)
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1,634,073
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Number of
Contracts (c)
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Notional Value
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PURCHASED OPTIONS — 3.3%
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PURCHASED CALL OPTIONS — 0.1%
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S&P 500 Index
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Expiration: February 2020, Strike Price: $3,275
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50
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124,750
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$
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16,127,600
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TOTAL PURCHASED CALL OPTIONS (Cost $155,059)
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124,750
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PURCHASED PUT OPTIONS — 3.2%
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S&P 500 Index
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Expiration: February 2020, Strike Price: $3,240
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125
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690,000
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$
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40,319,000
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Expiration: February 2020, Strike Price: $3,275
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400
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2,856,000
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129,020,800
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TOTAL PURCHASED PUT OPTIONS (Cost $1,928,622)
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3,546,000
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TOTAL PURCHASED OPTIONS (Cost $2,083,681)
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3,670,750
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TOTAL INVESTMENTS (Cost $89,826,361) — 99.9%
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109,925,940
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Other assets and liabilities, net — 0.1%
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56,330
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NET ASSETS — 100.0%
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$
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109,982,270
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ADR
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American Depositary Receipt
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PLC
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Public Limited Company
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(a)
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Foreign issued security.
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(b)
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The rate shown is the annualized seven-day yield at period end.
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(c)
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Each contract is equivalent to 100 shares of the underlying security.
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(d)
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Affiliated Issuer. See Affiliated Issuers Table following this Schedule of Investments.
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Percentages are stated as a percent of net assets.
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Fair Value Measurements
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Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels.
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Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs
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(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant
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unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the
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securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
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The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3.
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The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of January 31, 2020:
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Level 1
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Level 2
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Level 3
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Total
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Assets:
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Common Stocks*
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$
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104,621,117
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$
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-
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$
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-
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$
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104,621,117
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Money Market Funds
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1,634,073
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-
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-
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1,634,073
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Purchased Call Options
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-
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124,750
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-
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124,750
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Purchased Put Options
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-
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3,546,000
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-
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3,546,000
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Total Investments in Securities
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$
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106,255,190
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$
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3,670,750
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$
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-
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$
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109,925,940
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* See the Schedule of Investments for industry classifications.
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Derivative Investments
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The average monthly value outstanding of purchased options during the period ended Janurary 31, 2020 were as follows:
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Core Alternative ETF
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Purchased Options
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$
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2,245,892
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The following is a summary of the location of derivative instruments on the Fund's Statement of Assets and Liabilities as of January 31, 2020:
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Equity Risk Contracts
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Location on the Statement of Assets and
Liabilities
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Asset Derivatives,
Investments, at value
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Liability Derivatives,
Options written, at value
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Core Alternative ETF
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$
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3,670,750
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$
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–
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The following issuer is affiliated with the U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services, U.S. Bank, N.A., and Quasar Distributors, LLC, which provide accounting,
administration, transfer agency, custodian and distribution services to the Fund as of the period ended January 31, 2020. See Section 2(a)(3) of the 1940 Act.
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Core Alternative ETF
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US Bancorp
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April 30, 2019
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Balance
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Shares
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35,753
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Cost
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$
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1,853,146
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Market Value
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$
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1,906,350
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Gross Additions
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Shares
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6,974
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Cost
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$
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378,943
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Gross Deductions
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Shares
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3,435
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Cost
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$
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178,678
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Proceeds
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$
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202,174
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January 31, 2020
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Balance
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Shares
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39,292
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Cost
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$
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2,053,411
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Market Value
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$
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2,091,120
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Net realized gain (loss)
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$
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23,496
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Change in net unrealized appreciation/(depreciation)
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$
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(15,495)
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Dividend income
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$
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30,315
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Item 2. Controls and Procedures.
(a)
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The Registrant’s President and Treasurer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) (17 CFR 270.30a-3(c))
are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17
CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).
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(b)
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There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
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Item 3. Exhibits.
Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)). Filed herewith.
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.
(Registrant)
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Listed Funds Trust
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By (Signature and Title)*
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/s/ Gregory Bakken
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Gregory Bakken, President and Principal Executive Officer
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Date
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3/24/2020
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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 (Signature and Title)*
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/s/ Gregory Bakken
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Gregory Bakken, President and Principal Executive Officer
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Date
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3/24/2020
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By (Signature and Title)*
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/s/ Travis Babich
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Travis Babich, Treasurer and Principal Financial Officer
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Date
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3/24/2020
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*
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Print the name and title of each signing officer under his or her signature.
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