# EDGAR Filing Document

**Accession Number:** 0001683471
**File Stem:** 0001145549-23-018099
**Filing Date:** 2023-3
**Character Count:** 20608
**Document Hash:** 9b169b225fc9f77753809b014611aaa5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-018099.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001145549-23-018099

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Listed Funds Trust
- **CENTRAL INDEX KEY:** 0001683471
- **IRS NUMBER:** 826272597
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23226
- **FILM NUMBER:** 23764189

**BUSINESS ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-765-5144

**MAIL ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Active Weighting Funds ETF Trust
- **DATE OF NAME CHANGE:** 20160830

## Series and Classes Contracts Data

### Changebridge Select Equity ETF (Series ID: S000069998)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000222873 | Changebridge Select Equity ETF | CBSE            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Changebridge Select Equity ETF** | **Changebridge Select Equity ETF** | **Changebridge Select Equity ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| January 31, 2023 (Unaudited) | January 31, 2023 (Unaudited) | January 31, 2023 (Unaudited) |
|  | **Shares** | **Value** |
| **COMMON STOCKS — 94.1%** |  |  |
| **Consumer Discretionary Products — 5.2%** |  |  |
| indie Semiconductor, Inc. - Class A (a) | 25000 | $199250 |
| The Lovesac Co. (a) | 4832 | 124376 |
|  |  | 323626 |
| **Consumer Discretionary Services — 18.2%** |  |  |
| 2U, Inc. (a) | 17927 | 154710 |
| Arcos Dorados Holdings, Inc. - Class A (b) | 22251 | 189134 |
| Bowlero Corp. (a) | 14591 | 200626 |
| Luckin Coffee, Inc. - ADR (a)(b) | 6397 | 153848 |
| Playa Hotels & Resorts NV (a)(b) | 29966 | 227142 |
| Service Corp. International | 2780 | 206137 |
|  |  | 1131597 |
| **Consumer Staple Products — 3.8%** |  |  |
| The Estee Lauder Cos., Inc. - Class A | 850 | 235518 |
| **Health Care — 8.5%** |  |  |
| Humacyte, Inc. (a) | 54584 | 143556 |
| The Joint Corp. (a) | 11716 | 212880 |
| TransMedics Group, Inc. (a) | 2717 | 171225 |
|  |  | 527661 |
| **Industrial Products — 3.6%** |  |  |
| Blue Bird Corp. (a) | 4006 | 58087 |
| Chart Industries, Inc. (a) | 1226 | 164259 |
|  |  | 222346 |
| **Industrial Services — 12.8%** |  |  |
| BrightView Holdings, Inc. (a) | 23680 | 188256 |
| Rollins, Inc. | 5069 | 184511 |
| SP Plus Corp. (a) | 5883 | 221848 |
| Sterling Infrastructure, Inc. (a) | 5571 | 202729 |
|  |  | 797344 |
| **Insurance — 1.3%** |  |  |
| Tokio Marine Holdings, Inc. - ADR (a)(b) | 3900 | 81588 |
| **Materials — 5.0%** |  |  |
| B2Gold Corp. (b) | 40000 | 158800 |
| Boliden AB - ADR (b) | 1700 | 151929 |
|  |  | 310729 |
| **Oil & Gas — 13.2%** |  |  |
| Chesapeake Energy Corp. | 1454 | 126091 |
| Civeo Corp. (a)(b) | 6074 | 208034 |
| Denbury, Inc. (a) | 1365 | 118455 |
| Helix Energy Solutions Group, Inc. (a) | 16437 | 130345 |
| PDC Energy, Inc. | 661 | 44770 |
| TechnipFMC PLC (a)(b) | 13836 | 192182 |
|  |  | 819877 |
| **Retail & Wholesale - Discretionary — 17.2%** |  |  |
| Academy Sports & Outdoors, Inc. | 2783 | 162583 |
| Alibaba Group Holding, Ltd. - ADR (a)(b) | 1143 | 125959 |
| Coupang, Inc. (a) | 10800 | 182412 |
| Floor & Decor Holdings, Inc. - Class A (a) | 1700 | 154309 |
| JD.com, Inc. - ADR (b) | 2200 | 130966 |
| MercadoLibre, Inc. (a) | 158 | 186707 |
| Pinduoduo, Inc. - ADR (a)(b) | 1300 | 127374 |
|  |  | 1070310 |
| **Software & Technology Services — 5.3%** |  |  |
| PagSeguro Digital, Ltd. - Class A (a)(b) | 13000 | 131170 |
| StoneCo., Ltd. - Class A (a)(b) | 17600 | 196416 |
|  |  | 327586 |
| **TOTAL COMMON STOCKS (Cost $5,026,166)** |  | 5848182 |
| **MONEY MARKET FUNDS — 3.4%** |  |  |
| First American Government Obligations Fund - Class X, 4.14% (c) | 211033 | 211033 |
| **TOTAL MONEY MARKET FUNDS (Cost $211,033)** |  | 211033 |
| TOTAL INVESTMENTS (Cost $5,237,199) — 97.5% |  | 6059215 |
| Other assets and liabilities, net — 2.5% |  | 158536 |
| NET ASSETS — 100.0% |  | $6217751 |

---

---

| | |
|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| ADR | American Depositary Receipt |
| PLC | Public Limited Company |
| (a) | Non-income producing security. |
| (b) | Foreign issued security. |
| (c) | The rate shown is the seven-day yield at period end. |

---

------

---

| |
|:---|
| **Fair Value Measurements** |
| Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels. |
| Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs |
| (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant |
| unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the |
| securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. |
| The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3. |
| The following is a summary of the inputs used to value the Fund's investments carried at fair value as of January 31, 2023: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investments - Assets:** |  |  |  |  |
| Common Stocks\* | $5848182 | $- | $- | $5848182 |
| Money Market Funds | 211033 | - | - | 211033 |
| **Total Investments - Assets** | $6059215 | $- | $- | $6059215 |
| \* See the Schedules of Investments and Securities Sold Short for industry classifications. | \* See the Schedules of Investments and Securities Sold Short for industry classifications. |  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Listed Funds Trust

- **b. Investment Company Act file number:** 811-23226

- **c. CIK number of Registrant:** 0001683471

- **d. LEI of Registrant:** 549300C5D73JL0P1YC11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1681

**Item A.2. Information about the Series.**

- **a. Name of Series:** Changebridge Select Equity ETF

- **b. EDGAR series identifier (if any):** S000069998

- **c. LEI of Series:** 549300XUULM1FGK7KH90

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $6239076.14

**Total Liabilities:** $21331.98

**Net Assets:** $6217744.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222873 | -2.69%               | -5.83%               | 9.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-144921.90              | $-36269.53                                 |
| Month 2  | $-42665.89               | $-332785.34                                |
| Month 3  | $114551.01               | $421071.89                                 |

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Academy Sports & Outdoors Inc  | Academy Sports & Outdoors Inc              | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2783 | NS      | $162582.86    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |      1143 | NS      | $125958.60    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                 | Blue Bird Corp                             | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |      4006 | NS      | $58087.00     | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Boliden AB                     | Boliden AB                                 | CUSIP: 09752V102<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |      1700 | NS      | $151929.00    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Bowlero Corp                   | Bowlero Corp                               | CUSIP: 10258P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14591 | NS      | $200626.25    | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightView Holdings Inc        | BrightView Holdings Inc                    | CUSIP: 10948C107<br>LEI: 549300F8QN8YHVI7L866 | Long             | EC               | CORP              | US        |     23680 | NS      | $188256.00    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                    | B2Gold Corp                                | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |     40000 | NS      | $158800.00    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries Inc                       | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      1126 | NS      | $150861.48    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corp         | Chesapeake Energy Corp                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      1454 | NS      | $126090.88    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp                     | Civeo Corp                                 | CUSIP: 17878Y207<br>LEI: 254900H0BM0N0O4MSY43 | Long             | EC               | CORP              | US        |      6074 | NS      | $208034.50    | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                    | Coupang Inc                                | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | KR        |     10800 | NS      | $182412.00    | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                    | Denbury Inc                                | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |      1365 | NS      | $118454.70    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    172051 | NS      | $172050.55    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc                 | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |      1500 | NS      | $136155.00    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Helix Energy Solutions Group I | Helix Energy Solutions Group Inc           | CUSIP: 42330P107<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | EC               | CORP              | US        |     16437 | NS      | $130345.41    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Humacyte Inc                   | Humacyte Inc                               | CUSIP: 44486Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51384 | NS      | $135139.92    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| indie Semiconductor Inc        | indie Semiconductor Inc                    | CUSIP: 45569U101<br>LEI: 254900L1MFXFYGB1PV53 | Long             | EC               | CORP              | US        |     25000 | NS      | $199250.00    | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                     | JD.com Inc                                 | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |      2200 | NS      | $130966.00    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Joint Corp/The                 | Joint Corp/The                             | CUSIP: 47973J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11716 | NS      | $212879.72    | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The       | Estee Lauder Cos Inc/The                   | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |       850 | NS      | $235518.00    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Lovesac Co/The                 | Lovesac Co/The                             | CUSIP: 54738L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4232 | NS      | $108931.68    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Luckin Coffee Inc              | Luckin Coffee Inc                          | CUSIP: 54951L109<br>LEI: 549300FO16ASCVSMYI15 | Long             | EC               | CORP              | CN        |      6397 | NS      | $153847.85    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       158 | NS      | $186707.02    | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PDC Energy Inc                 | PDC Energy Inc                             | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |       661 | NS      | $44769.53     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinduoduo Inc                  | Pinduoduo Inc                              | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | CN        |      1300 | NS      | $127374.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                    | Rollins Inc                                | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      5069 | NS      | $184511.60    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| SP Plus Corp                   | SP Plus Corp                               | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               | CORP              | US        |      5883 | NS      | $221847.93    | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US  | Service Corp International/US              | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      2780 | NS      | $206137.00    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure Inc                | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      5571 | NS      | $202728.69    | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc      | Tokio Marine Holdings Inc                  | CUSIP: 889094108<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |      3900 | NS      | $81588.00     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group Inc                      | CUSIP: 89377M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2717 | NS      | $171225.34    | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| 2U Inc                         | 2U Inc                                     | CUSIP: 90214J101<br>LEI: 5493008RVTXVR43PYF84 | Long             | EC               | CORP              | US        |     15127 | NS      | $130546.01    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcos Dorados Holdings Inc     | Arcos Dorados Holdings Inc                 | CUSIP: N/A<br>LEI: 54930023P2MIZN13DQ85       | Long             | EC               | CORP              | UY        |     22251 | NS      | $189133.50    | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagseguro Digital Ltd          | Pagseguro Digital Ltd                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     13000 | NS      | $131170.00    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneCo Ltd                    | StoneCo Ltd                                | CUSIP: N/A<br>LEI: 549300O1A9LEF0XZCR35       | Long             | EC               | CORP              | BR        |     17600 | NS      | $196416.00    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                             | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     13836 | NS      | $192182.04    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Playa Hotels & Resorts NV      | Playa Hotels & Resorts NV                  | CUSIP: N/A<br>LEI: 529900BUP3KWPCJNLS49       | Long             | EC               | CORP              | US        |     28366 | NS      | $215014.28    | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-23

**Name of Applicant:** Listed Funds Trust

**Signature:** /s/Travis Babich

**Name of Signer:** Travis Babich

**Title:** Treasurer