# EDGAR Filing Document

**Accession Number:** 0001683471
**File Stem:** 0000894189-26-005041
**Filing Date:** 2026-2
**Character Count:** 18903
**Document Hash:** 5741c06abc77d2ea2426cd1526501a01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-005041.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000894189-26-005041

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Listed Funds Trust
- **CENTRAL INDEX KEY:** 0001683471

**ORGANIZATION NAME:**
- **EIN:** 826272597
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23226
- **FILM NUMBER:** 26678182

**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

### Horizon Kinetics Inflation Beneficiaries ETF (Series ID: S000070458)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000223962 | Horizon Kinetics Inflation Beneficiaries ETF | INFL            |

## 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:** 414-516-1692

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

- **a. Name of Series:** Horizon Kinetics Inflation Beneficiaries ETF

- **b. EDGAR series identifier (if any):** S000070458

- **c. LEI of Series:** 5493002HSH81OPEVAK36

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1340989299.60

**Total Liabilities:** $19728602.79

**Net Assets:** $1321260696.81

**Delayed Delivery Securities:** $31003.22

**Cash Not Reported:** $298920.95

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000223962 | -2.60%               | 1.51%                | 0.92%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9175862.48              | $-43863196.73                              |
| Month 2  | $-5269640.32             | $23536570.86                               |
| Month 3  | $3769202.00              | $7087308.87                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Viper Energy Inc               | Viper Energy Inc                 | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1582797 | NS      | $61143448.11  | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WaterBridge Infrastructure LLC | WaterBridge Infrastructure LLC   | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2510545 | NS      | $50236005.45  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Landbridge Co LLC              | Landbridge Co LLC                | CUSIP: 514952100<br>LEI: 529900P7NBGGY6C0SF08 | Long             | EC               | CORP              | US        |   1255405 | NS      | $61502290.95  | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc         | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |    151891 | NS      | $28178818.32  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesabi Trust                   | Mesabi Trust                     | CUSIP: 590672101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    393971 | NS      | $15175762.92  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt | Metalla Royalty & Streaming Ltd  | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |    390000 | NS      | $3034200.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Toei Animation Co Ltd          | Toei Animation Co Ltd            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    127599 | NS      | $2218298.99   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Triple Flag Precious Metals Co | Triple Flag Precious Metals Corp | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |    386220 | NS      | $12830228.40  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings I | Miami International Holdings Inc | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |    353883 | NS      | $15705327.54  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd         | Singapore Exchange Ltd           | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |   2992182 | NS      | $39461436.02  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp   | Wheaton Precious Metals Corp     | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |    874434 | NS      | $102763483.68 | 7.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd       | Wilmar International Ltd         | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |   4436472 | NS      | $10625453.93  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                    | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |    146022 | NS      | $39875687.76  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc        | DigitalBridge Group Inc          | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |   2815605 | NS      | $43191380.70  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG             | Deutsche Boerse AG               | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |    138502 | NS      | $36387965.85  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Deterra Royalties Ltd          | Deterra Royalties Ltd            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   5684286 | NS      | $15427579.55  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc               | OR Royalties Inc                 | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |   1603366 | NS      | $56743122.74  | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Basin Royalty Trust    | Permian Basin Royalty Trust      | CUSIP: 714236106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1701245 | NS      | $28887140.10  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabine Royalty Trust           | Sabine Royalty Trust             | CUSIP: 785688102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85201 | NS      | $5842232.57   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                    | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |    286316 | NS      | $16998580.92  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| San Juan Basin Royalty Trust   | San Juan Basin Royalty Trust     | CUSIP: 798241105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1283345 | NS      | $7212398.90   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                     | Sprott Inc                       | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |    180682 | NS      | $17692381.44  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tejon Ranch Co                 | Tejon Ranch Co                   | CUSIP: 879080109<br>LEI: 549300TMNDO77VJ6J111 | Long             | EC               | CORP              | US        |    684986 | NS      | $10802229.22  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp        | Texas Pacific Land Corp          | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186456 | NS      | $53553892.32  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PL | London Stock Exchange Group PLC  | CUSIP: G5689U103<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     54057 | NS      | $6508914.47   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TMX Group Ltd                  | TMX Group Ltd                    | CUSIP: 87262K105<br>LEI: 549300N65GFVKSHGJW59 | Long             | EC               | CORP              | CA        |    904740 | NS      | $34473514.65  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithium Royalty Corp           | Lithium Royalty Corp             | CUSIP: 53680W105<br>LEI: 549300PNTZ1SGOX9FY92 | Long             | EC               | CORP              | CA        |    100000 | NS      | $693780.78    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| PrairieSky Royalty Ltd         | PrairieSky Royalty Ltd           | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Long             | EC               | CORP              | CA        |   3180931 | NS      | $62725197.83  | 4.75%             |  |  |  | No            |                  1 | On Loan: —       |
| Royalty Pharma PLC             | Royalty Pharma PLC               | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | US        |    341549 | NS      | $13197453.36  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarkson PLC                   | Clarkson PLC                     | CUSIP: N/A<br>LEI: 2138007G6BGTEHI3OT22       | Long             | EC               | CORP              | GB        |    110369 | NS      | $5663412.58   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                  | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |    349544 | NS      | $16040574.16  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                      | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    592255 | NS      | $54185409.95  | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc              | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |    177010 | NS      | $34408973.90  | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Altius Minerals Corp           | Altius Minerals Corp             | CUSIP: 020936100<br>LEI: 54930083UJGDUCMJMU61 | Long             | EC               | CORP              | CA        |    378934 | NS      | $11289924.90  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorchester Minerals LP         | Dorchester Minerals LP           | CUSIP: 25820R105<br>LEI: 529900J537JTEZOMXG05 | Long             | EC               | CORP              | US        |    184692 | NS      | $4129713.12   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fermi Inc                      | Fermi Inc                        | CUSIP: 314911108<br>LEI: 529900TSHBYBCFMYZ228 | Long             | EC               | CORP              | US        |     66337 | NS      | $530696.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Franco-Nevada Corp             | Franco-Nevada Corp               | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |    325826 | NS      | $67537213.28  | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries I | Hawaiian Electric Industries Inc | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |   3381002 | NS      | $41586324.60  | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc    | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    336380 | NS      | $54480104.80  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Ltd                        | ASX Ltd                          | CUSIP: N/A<br>LEI: 549300VSBVYUCBIQKT71       | Long             | EC               | CORP              | AU        |    572062 | NS      | $19623276.55  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc       | Japan Exchange Group Inc         | CUSIP: N/A<br>LEI: 353800578ADEGIJTVW07       | Long             | EC               | CORP              | JP        |   1665814 | NS      | $17811759.64  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| IG Port Inc                    | IG Port Inc                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    262000 | NS      | $2189671.12   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                   | Glencore PLC                     | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | CH        |   4177006 | NS      | $22841026.39  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA - USBGFS 7        | US BANK MMDA - USBGFS 7          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  64447108 | NS      | $64447108.12  | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Labrador Iron Ore Royalty Corp | Labrador Iron Ore Royalty Corp   | CUSIP: 505440107<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    289004 | NS      | $6297683.37   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Topaz Energy Corp              | Topaz Energy Corp                | CUSIP: 89055A203<br>LEI: 98450056D90CB02FQ571 | Long             | EC               | CORP              | CA        |   1533164 | NS      | $30803090.69  | 2.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Evolve Royalties Ltd           | Evolve Royalties Ltd             | CUSIP: 299944108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   1781250 | NS      | $4808043.04   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                | Bunge Global SA                  | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |    309498 | NS      | $27570081.84  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** Listed Funds Trust

**Signature:** /s/Travis Babich

**Name of Signer:** Listed Funds Trust

**Title:** Treasurer