# EDGAR Filing Document

**Accession Number:** 0001771146
**File Stem:** 0001752724-23-040975
**Filing Date:** 2023-2
**Character Count:** 28989
**Document Hash:** 426f293507ec6e80e7fedbcd4f386f19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-040975.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-040975

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Opportunities Trust
- **CENTRAL INDEX KEY:** 0001771146
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23439
- **FILM NUMBER:** 23670720

**BUSINESS ADDRESS:**
- **STREET 1:** 8370 STONY POINT PARKWAY, SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-267-7400

**MAIL ADDRESS:**
- **STREET 1:** 8370 STONY POINT PARKWAY, SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235

## Series and Classes Contracts Data

### Formidable Fortress ETF (Series ID: S000071250)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000226145 | Formidable Fortress ETF | KONG            |

## Nport-Ex

**FORMIDABLE FORTRESS ETF**

**Schedule of Investments** **December 31, 2022 (unaudited)**

**1**

QUARTERLY REPORT

FORMIDABLE FORTRESS ETF

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Fair Value** |
| **89.29%** | **COMMON STOCKS** |  |  |
| **10.07%** | **COMMUNICATIONS SERVICES** |  |  |
|  | Activision Blizzard, Inc.  | 17838 | $1365499 <br>|
|  | Take-Two Interactive Software, Inc. <sup>(A)</sup>  | 9730 | 1013185 |
|  |  |  | 2378684 |
| **3.23%** | **CONSUMER DISCRETIONARY**  |  |  |
|  | Garmin Ltd.  | 3753 | 346365 |
|  | Gentex Corp.  | 15240 | 415595 |
|  |  |  | 761960 |
| **5.36%** | **CONSUMER STAPLES** |  |  |
|  | Monster Beverage Corp. <sup>(A)</sup>  | 12468 | 1265876 |
| **1.94%** | **ENERGY** |  |  |
|  | Texas Pacific Land Corp.  | 195 | 457125 |
| **10.56%** | **FINANCIAL**  |  |  |
|  | Erie Indemnity Co.  | 1407 | 349949 |
|  | First American Financial Corp.  | 7709 | 403489 |
|  | Houlihan Lokey, Inc.  | 2696 | 234983 |
|  | MarketAxess Holdings, Inc.  | 1650 | 460168 |
|  | The Progressive Corp.  | 8068 | 1046500 |
|  |  |  | 2495089 |
| **17.78%** | **HEALTH CARE** |  |  |
|  | Bio-Rad Laboratories, Inc. <sup>(A)</sup>  | 889 | 373815 |
|  | Chemed Corp.  | 925 | 472148 |
|  | Regeneron Pharmaceuticals, Inc. <sup>(A)</sup>  | 1737 | 1253228 |
|  | United Therapeutics Corp. <sup>(A)</sup>  | 1589 | 441885 |
|  | Vertex Pharmaceuticals, Inc. <sup>(A)</sup>  | 4292 | 1239444 |
|  | West Pharmaceutical Services, Inc.  | 1782 | 419394 |
|  |  |  | 4199914 |
| **16.83%** | **INDUSTRIAL**  |  |  |
|  | A.O. Smith Corp.  | 7778 | 445213 |
|  | Expeditors International of Washington, Inc.  | 3255 | 338260 |
|  | Fastenal Co.  | 7076 | 334836 |
|  | Graco, Inc.  | 6903 | 464296 |
|  | Landstar System, Inc.  | 2063 | 336063 |
|  | Robert Half International, Inc.  | 9125 | 673699 |
|  | Snap-on, Inc.  | 3623 | 827819 |
|  | Stanley Black & Decker, Inc.  | 7387 | 554911 |
|  |  |  | 3975097 |

---

**2**

QUARTERLY REPORT

**FORMIDABLE FORTRESS ETF**

**Schedule of Investments - continued** **December 31, 2022 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Shares** | **Fair Value** |
| **16.52%** | **INFORMATION TECHNOLOGY** |  |  |
|  | Amdocs Ltd.  | 10908 | $991537 <br>|
|  | Automatic Data Processing, Inc.  | 4285 | 1023515 |
|  | Cisco Sysems, Inc.  | 20051 | 955230 |
|  | Jack Henry & Associates, Inc.  | 2302 | 404139 |
|  | Maximus, Inc.  | 7174 | 526069 |
|  |  |  | 3900490 |
| **7.00%** | **REAL ESTATE**  |  |  |
|  | Gaming and Leisure Properties  | 15348 | 799478 |
|  | Public Storage  | 3045 | 853179 |
|  |  |  | 1652657 |
| **89.29%** | **TOTAL COMMON STOCKS**  | **TOTAL COMMON STOCKS**  | 21086892 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **PURCHASED OPTIONS** |  |  |  |  |  |
| **0.31%** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** |  |  |  |  |
|  | **Description**  | **Number of<br>Contracts** | **Notional<br>Amount** | **Exercise<br>Price** | **Expiration<br>Date** | **Value**  |
|  | SPDR S&P 500 ETF Trust  | 15 | 573645 | 378.00 | 12/29/22 | $15 <br>|
|  | SPDR S&P 500 ETF Trust  | 105 | 4015515 | 365.00 | 01/19/23 | 21000 |
|  | SPDR S&P 500 ETF Trust  | 100 | 3824300 | 370.00 | 01/19/23 | 29600 |
|  | SPDR S&P 500 ETF Trust  | 50 | 1912150 | 375.00 | 01/19/23 | 21500 |
|  |  |  |  |  |  | 72115 |
| **0.31%** | **TOTAL PURCHASED OPTIONS**  | **TOTAL PURCHASED OPTIONS**  | **TOTAL PURCHASED OPTIONS**  | **TOTAL PURCHASED OPTIONS**  | **TOTAL PURCHASED OPTIONS**  | 72115 |
| **89.60%** | **TOTAL INVESTMENTS**  | **TOTAL INVESTMENTS**  | **TOTAL INVESTMENTS**  | **TOTAL INVESTMENTS**  | **TOTAL INVESTMENTS**  | 21159007 |
| **10.40%** | Other assets, net of liabilities  | Other assets, net of liabilities  | Other assets, net of liabilities  | Other assets, net of liabilities  | Other assets, net of liabilities  | 2457724 |
| **100.00%** | **NET ASSETS**  | **NET ASSETS**  | **NET ASSETS**  | **NET ASSETS**  | **NET ASSETS**  | **$** **23616731** <br>|

---

(A)Non-income producing

**FORMIDABLE FORTRESS ETF**

**Schedule of Investments - continued** **December 31, 2022 (unaudited)**

**3**

QUARTERLY REPORT

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **-0.14%** | **OPTIONS WRITTEN**  |  |  |  |  |  |
| **-0.08%** | **PUT OPTIONS** |  |  |  |  |  |
|  | **Description**  | **Number of<br>Contracts** | **Notional<br>Amount** | **Exercise<br>Price** | **Expiration<br>Date** | **Value**  |
|  | SPDR S&P 500 ETF Trust  | 15 | 573645 | 358.00 | 12/29/22 | $(15 ) |
|  | SPDR S&P 500 ETF Trust  | 205 | 7839815 | 350.00 | 01/19/23 | (12710) |
|  | SPDR S&P 500 ETF Trust  | 50 | 1912150 | 360.00 | 01/19/23 | (6650) |
| **-0.08%** | **TOTAL PUT OPTIONS WRITTEN**  | **TOTAL PUT OPTIONS WRITTEN**  | **TOTAL PUT OPTIONS WRITTEN**  | **TOTAL PUT OPTIONS WRITTEN**  | **TOTAL PUT OPTIONS WRITTEN**  | (19375) |
| **-0.06%** | **CALL OPTIONS** |  |  |  |  |  |
|  | MarketAxess Holdings, Inc.  | 5 | 139445 | 310.00 | 01/19/23 | (2400) |
|  | The Progressive Corp.  | 30 | 389130 | 140.00 | 01/19/23 | (450) |
|  | Regeneron <br>Pharmaceuticals, Inc.  | 5 | 360745 | 820.00 | 01/19/23 | (1500) |
|  | Robert Half <br>Internatinational, Inc.  | 30 | 221490 | 85.00 | 01/19/23 | (750) |
|  | Stanley Black & Decker, Inc.  | 30 | 225360 | 90.00 | 01/19/23 | (450) |
|  | Take-Two Interactive Software, Inc.  | 40 | 416520 | 120.00 | 01/19/23 | (920) |
|  | United Therapeutics Corp.  | 5 | 139045 | 310.00 | 01/19/23 | (2400) |
|  | Activision Blizzard, Inc.  | 25 | 191375 | 85.00 | 02/16/23 | (1350) |
|  | Cisco Systems, Inc.  | 50 | 23820 | 52.50 | 02/16/23 | (1600) |
|  | Fastenal Co.  | 20 | 94640 | 52.50 | 02/16/23 | (600) |
|  | West Pharmaceutical Services, Inc.  | 6 | 141210 | 270.00 | 02/16/23 | (2250) |
|  |  |  |  |  |  | (14670) |
| **-0.06%** | **TOTAL CALL OPTIONS WRITTEN**  | **TOTAL CALL OPTIONS WRITTEN**  | **TOTAL CALL OPTIONS WRITTEN**  | **TOTAL CALL OPTIONS WRITTEN**  | **TOTAL CALL OPTIONS WRITTEN**  | (14670) |
| **-0.14%** | **TOTAL OPTIONS WRITTEN**  | **TOTAL OPTIONS WRITTEN**  | **TOTAL OPTIONS WRITTEN**  | **TOTAL OPTIONS WRITTEN**  | **TOTAL OPTIONS WRITTEN**  | (34045) |

---

**4**

QUARTERLY REPORT

**FORMIDABLE FORTRESS ETF**

**Schedule of Investments - continued** **December 31, 2022 (unaudited)**

In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund's investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. 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, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund's investments as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |  |
|  | **Quoted Prices** | **Other Significant Observable Inputs** | **Significant Unobservable Inputs** | **Total** |
|  Common Stocks  | $21086892 <br>| $— <br>| $— <br>| $21086892 <br>|
|  Options Purchased  |  | 72115 |  | 72115 |
|  Total Investments  | $21086892 <br>| $72115 <br>| $— <br>| $21159007 <br>|
|  Options Written  | $— <br>| $(34045 ) | $— <br>| $(34045 ) |

---

The Fund held no Level 3 securities at any time during the period.

There were no transfers into or out of Levels 1 and 2 during the period ended December 31, 2022.

At December 31, 2022 the cost of investments for Federal income tax purposes has been estimated since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $21,649,500 and the related tax-based net unrealized appreciation (depreciation) consists of:

---

| | |
|:---|:---|
|  Gross unrealized appreciation  | $1395468 <br>|
|  Gross unrealized depreciation  | (1920006) |
|  Net unrealized appreciation  | $(524538 ) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ETF Opportunities Trust

- **b. Investment Company Act file number:** 811-23439

- **c. CIK number of Registrant:** 0001771146

- **d. LEI of Registrant:** 549300FWST5041130Z58

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

  - **Street Address 1:** 8730 Stony Point Parkway

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23235

  - **Telephone number:** 804-267-7400

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

- **a. Name of Series:** Formidable Fortress ETF

- **b. EDGAR series identifier (if any):** S000071250

- **c. LEI of Series:** 549300WM25C2V3VL6H50

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $23804821.81

**Total Liabilities:** $188090.72

**Net Assets:** $23616731.09

**Cash Not Reported:** $2634739.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000226145 | 6.44%                | 5.63%                | -3.54%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $1632539.97                                |
| Month 2  | $-12746.68               | $1410528.87                                |
| Month 3  | $261588.98               | $-1200427.42                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACTIVISION BLIZZARD, INC.                   | ACTIVISION BLIZZARD INC                    | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |     17838 | NS      | $1365498.90   | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| GRACO INC                                   | GRACO INC                                  | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      6903 | NS      | $464295.78    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SERVICES, INC.          | WEST PHARMACEUTICAL SERVICES INC           | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      1782 | NS      | $419393.70    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL COMPANY                            | FASTENAL CO CALL OPTION                    | CUSIP: N/A<br>LEI: 529900PP0C7H2HHPSJ32       | N/A              | DE               |  | US        |       -20 | NC      | $-600.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                 | PROGRESSIVE CORPORATION                    | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      8068 | NS      | $1046500.28   | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ABIOMED INC CVR                             | ABIOMED INC CVR                            | CUSIP: 003CVR016<br>LEI: N/A                  | Long             | EC               |  | US        |      1015 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Pacific Land Corp                     | TEXAS PACIFIC LAND CORP                    | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       195 | NS      | $457124.85    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       105 | NC      | $21000.00     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| MONSTER BEVERAGE CORPORATION                | MONSTER BEVERAGE CORP                      | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     12468 | NS      | $1265876.04   | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO-RAD LABORATORIES, INC.                  | BIO RAD LABORATORIES INC                   | CUSIP: 090572207<br>LEI: 549300ZC1GPV35XYDK53 | Long             | EC               | CORP              | US        |       889 | NS      | $373815.61    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| STANLEY BLACK & DECKER, INC.                | STANELY BLACK AND DECKER INC               | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |      7387 | NS      | $554911.44    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAP-ON INCORPORATED                        | SNAP ON INC                                | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      3623 | NS      | $827819.27    | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        50 | NC      | $21500.00     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSING, INC.             | AUTOMATIC DATA PROCESSING INC              | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      4285 | NS      | $1023515.10   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBERT HALF INTERNATIONAL INC.              | ROBERT HALF INTERNATIONAL INC CALL OPTION  | CUSIP: N/A<br>LEI: 529900VPCUY9H3HLIC08       | N/A              | DE               |  | US        |       -30 | NC      | $-750.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JACK HENRY & ASSOCIATES, INC.               | JACK HENRY ASSOCIATES INC                  | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |      2302 | NS      | $404139.12    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                 | PROGRESSIVE CORP THE CALL OPTION           | CUSIP: N/A<br>LEI: 529900TACNVLY9DCR586       | N/A              | DE               |  | US        |       -30 | NC      | $-450.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.                   | MARKETAXESS HOLDINGS INC                   | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      1650 | NS      | $460168.50    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                         | CISCO SYSTEMS INC CALL OPTION              | CUSIP: N/A<br>LEI: 549300LKFJ962MZ46593       | N/A              | DE               |  | US        |       -50 | NC      | $-1600.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHEMED CORPORATION                          | CHEMED CORP                                | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       925 | NS      | $472147.75    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                              | AMDOCS LTD                                 | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | GG        |     10908 | NS      | $991537.20    | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDITORS INTERNATIONAL OF WASHINGTON, INC | EXPEDITORS INTERNATIONAL OF WASHINGTON INC | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |      3255 | NS      | $338259.60    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| GENTEX CORPORATION                          | GENTEX CORP                                | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |     15240 | NS      | $415594.80    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ACTIVISION BLIZZARD, INC.                   | ACTIVISION BLIZZARD INC CALL OPTION        | CUSIP: N/A<br>LEI: 549300TPQQDBP9GNOF40       | N/A              | DE               |  | US        |       -25 | NC      | $-1350.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.         | TAKE TWO INTERACTIVE SOFTWRE CALL OPTION   | CUSIP: N/A<br>LEI: BOMSTHHJK882EWYX3334       | N/A              | DE               |  | US        |       -40 | NC      | $-920.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -205 | NC      | $-12710.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER, INC.                | STANLEY BLACK DECKER INC CALL OPTION       | CUSIP: N/A<br>LEI: 549300DJ09SMTO561131       | N/A              | DE               |  | US        |       -30 | NC      | $-450.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-6650.00     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| FASTENAL COMPANY                            | FASTENAL CO                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      7076 | NS      | $334836.32    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        15 | NC      | $15.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE                              | PUBLIC STORAGE                             | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      3045 | NS      | $853178.55    | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| A. O. SMITH CORPORATION                     | A O SMITH CORPORATION                      | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      7778 | NS      | $445212.72    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.             | REGENERON PHARMACEUTICALS INC CALL OPTION  | CUSIP: N/A<br>LEI: 549300RCBFWIRX3HYQ56       | N/A              | DE               |  | US        |        -5 | NC      | $-1500.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MAXIMUS, INC.                               | MAXIMUS INC                                | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      7174 | NS      | $526069.42    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       100 | NC      | $29600.00     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ROBERT HALF INTERNATIONAL INC.              | ROBERT HALF INTERNATIONAL INC              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |      9125 | NS      | $673698.75    | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SERVICES, INC.          | WEST PHARMACEUTICAL SERVICES CALL OPTION   | CUSIP: N/A<br>LEI: 5493007NKRGM1RJQ1P16       | N/A              | DE               |  | US        |        -6 | NC      | $-2250.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION        | FIRST AMERICAN FINANCIAL CORP              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      7709 | NS      | $403489.06    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| LANDSTAR SYSTEM, INC.                       | LANDSTAR SYSTEM INC                        | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      2063 | NS      | $336062.70    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED         | VERTEX PHARMACEUTICALS INC                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      4292 | NS      | $1239443.76   | 5.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties, Inc.         | GAMING AND LEISURE PROPERTIES INC          | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     15348 | NS      | $799477.32    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION             | UNITED THERAPEUTICS CORP                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1589 | NS      | $441885.01    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.             | REGENERON PHARMACEUTICALS INC              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      1737 | NS      | $1253228.13   | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ERIE INDEMNITY COMPANY                      | ERIE INDEMNITY CO                          | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Long             | EC               | CORP              | US        |      1407 | NS      | $349949.04    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                      | SPDR S P 500 ETF TRUST PUT OPTION          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -15 | NC      | $-15.00       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.                   | MARKETAXESS HOLDINGS INC CALL OPTION       | CUSIP: N/A<br>LEI: 5493002U1CA1XJOVID83       | N/A              | DE               |  | US        |        -5 | NC      | $-2400.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.         | TAKE TWO INTERACTIVE SOFTWARE INC          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      9730 | NS      | $1013184.90   | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION             | UNITED THERAPEUTICS CORP CALL OPTION       | CUSIP: N/A<br>LEI: 5299005C4HZL4UWROC14       | N/A              | DE               |  | US        |        -5 | NC      | $-2400.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HOULIHAN LOKEY, INC.                        | HOULIHAN LOKEY INC                         | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      2696 | NS      | $234983.36    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd.                                 | GARMIN LTD                                 | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |      3753 | NS      | $346364.37    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                         | CISCO SYSTEMS INC                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     20051 | NS      | $955229.64    | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** ETF Opportunities Trust

**Signature:** Karen Shupe

**Name of Signer:** Karen Shupe

**Title:** Treasurer