# EDGAR Filing Document

**Accession Number:** 0001452937
**File Stem:** 0001752724-25-182237
**Filing Date:** 2025-7
**Character Count:** 30627
**Document Hash:** ccfe3dfe8900148d4e8f2d4ea5d2fbad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182237.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182237

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EXCHANGE TRADED CONCEPTS TRUST
- **CENTRAL INDEX KEY:** 0001452937

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22263
- **FILM NUMBER:** 251160067

**BUSINESS ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120
- **BUSINESS PHONE:** 405-778-8377

**MAIL ADDRESS:**
- **STREET 1:** 10900 HEFNER POINTE DRIVE
- **STREET 2:** SUITE 400
- **CITY:** OKLAHOMA CITY
- **STATE:** OK
- **ZIP:** 73120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FAITHSHARES TRUST
- **DATE OF NAME CHANGE:** 20090717

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FAITHSHARES INC
- **DATE OF NAME CHANGE:** 20090225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VERITAS FUNDS INC
- **DATE OF NAME CHANGE:** 20081230

## Series and Classes Contracts Data

### FMQQ The Next Frontier Internet ETF (Series ID: S000073704)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000230780 | FMQQ The Next Frontier Internet ETF | FMQQ            |

## Nport-Ex

**EMQQ**

**The Emerging Markets Internet ETF**

Schedule of Investments

May 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **COMMON STOCK<sup>††</sup> — 100.0%** |  |  |
| **Brazil — 11.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 5.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre\* | 7287 | $18678695 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 6.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter | 141928 | 1008740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NU Holdings, Cl A\* | 1154447 | 13864908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital, Cl A | 102176 | 910388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;StoneCo, Cl A\* | 125626 | 1714795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XP, Cl A | 172767 | 3344769 |
|  |  | 20843600 |
|  |  | 39522295 |
| **China — 42.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 14.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baidu, Cl A\* | 474350 | 4939161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bilibili, Cl Z\* | 63260 | 1186697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Literature\* | 82800 | 282985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Ruyi Holdings\* | 984000 | 257245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hello Group ADR | 31217 | 189487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iQIYI ADR<sup>(A)</sup>\* | 114170 | 182672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kanzhun ADR\* | 77395 | 1312619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingsoft | 197200 | 839946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kuaishou Technology, Cl B\* | 568500 | 3864166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meitu | 624000 | 524407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetEase | 389000 | 9460158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings | 406700 | 25839016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | 192258 | 3237625 |
|  |  | 52116184 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 24.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding | 1918000 | 27859313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JD.com, Cl A | 616000 | 10125855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meituan, Cl B\* | 950700 | 16730952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PDD Holdings ADR\* | 213525 | 20607298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tongcheng Travel Holdings | 272400 | 769448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trip.com Group | 133650 | 8419649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | 104383 | 1439442 |
|  |  | 85951957 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Staples — 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Health Information Technology<sup>(A)</sup>\* | 1092000 | 630840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JD Health International\* | 223650 | 1145124 |
|  |  | 1775964 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **China — continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qifu Technology ADR | 33013 | $1356835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZhongAn Online P&C Insurance, Cl H\* | 151300 | 371615 |
|  |  | 1728450 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Industrials — 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full Truck Alliance ADR | 189986 | 2209537 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Information Technology — 0.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kingdee International Software Group\* | 624000 | 978786 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Real Estate — 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KE Holdings, Cl A | 486800 | 3097770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phoenix Tree Holdings ADR<sup>(A)(B)</sup>\* | 179833 |  |
|  |  | 3097770 |
|  |  | 147858648 |
| **Hong Kong — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futu Holdings ADR | 19042 | 1940951 |
| **India — 21.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Info Edge India | 150575 | 2511783 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 4.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrainBees Solutions\* | 104341 | 424863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSN E-Commerce Ventures\* | 518913 | 1232536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jubilant Foodworks | 186754 | 1430635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MakeMyTrip\* | 31089 | 3159575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zomato\* | 3126217 | 8705916 |
|  |  | 14953525 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Energy — 8.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries | 1681552 | 27920739 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 7.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angel One | 20728 | 735284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bajaj Finance | 133198 | 14289503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indian Energy Exchange | 367873 | 862132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jio Financial Services\* | 1579713 | 5291554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One 97 Communications\* | 143776 | 1496060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PB Fintech\* | 158516 | 3263123 |
|  |  | 25937656 |

---

**EMQQ**

**The Emerging Markets Internet ETF**

Schedule of Investments

May 31, 2025 (Unaudited) (Continued)

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **India — continued** |  |  |
| &nbsp;&nbsp;&nbsp;*Information Technology — 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swiggy\* | 530482 | $2064587 |
|  |  | 73388290 |
| **Indonesia — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 0.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GoTo Gojek Tokopedia, Cl A\* | 431280700 | 1694412 |
| **Japan — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 0.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexon | 160800 | 2910770 |
| **Kazakhstan — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;*Financials — 2.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kaspi.KZ JSC ADR | 93186 | 7432981 |
| **Poland — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 0.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CD Projekt<sup>(A)</sup> | 32131 | 1903208 |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 1.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegro.eu\* | 281308 | 2587668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCC\* | 33774 | 1969861 |
|  |  | 4557529 |
|  |  | 6460737 |
| **Russia — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 0.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VK GDR<sup>(B)</sup>\* | 117354 | 1173 |
| **Singapore — 7.5%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 5.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sea ADR\* | 127111 | 20384791 |
| &nbsp;&nbsp;&nbsp;*Industrials — 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grab Holdings, Cl A\* | 1164023 | 5668792 |
|  |  | 26053583 |
| **South Africa — 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MultiChoice Group\* | 128582 | 832410 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **South Africa — continued** |  |  |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 3.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Naspers, Cl N | 38382 | $10975966 |
|  |  | 11808376 |
| **South Korea — 8.4%** |  |  |
| &nbsp;&nbsp;&nbsp;*Communication Services — 3.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kakao | 118152 | 3656658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAVER | 56801 | 7719205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCSoft | 7022 | 776151 |
|  |  | 12152014 |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 4.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coupang, Cl A\* | 485868 | 13628597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery Hero, Cl A\* | 81066 | 2243704 |
|  |  | 15872301 |
| &nbsp;&nbsp;&nbsp;*Financials — 0.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KakaoBank | 86250 | 1469069 |
|  |  | 29493384 |
| **Taiwan — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 0.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;momo.com | 53749 | 547022 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $289,825,569) |  | 349112622 |
| **SHORT-TERM INVESTMENT — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class, 4.24%<sup>(C)(D)</sup> | 1617441 | 1617441 |
| Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,617,441) |  | 1617441 |
| Total Investments - 100.5% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $291,443,010) |  | $350730063 |

---

Percentages are based on net assets of $349,140,039.

**EMQQ**

**The Emerging Markets Internet ETF**

Schedule of Investments

May 31, 2025 (Unaudited) (Concluded)

---

| | |
|:---|:---|
| *††* | *Industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.* |
| *\** | *Non-income producing security.* |
| *(A)* | *This security or a partial position of this security is on loan at May 31, 2025. The total value of securities on loan at May 31, 2025 was $1,538,817.* |
| *(B)* | *Security is fair valued.* |
| *(C)* | *This security was purchased with cash collateral held from securities on loan. The total value of such securities as of May 31, 2025 was $1,617,441.* |
| *(D)* | *The rate shown is the 7-day effective yield as of May 31, 2025.* |

---

*ADR — American Depositary Receipt*

*Cl — Class*

*GDR — Global Depositary Receipt*

JSC — Joint-Stock Company

**FMQQ**

**The Next Frontier Internet ETF**

Schedule of Investments

May 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **COMMON STOCK<sup>††</sup> — 100.9%** |  |  |
| **Brazil — 23.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 9.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre\* | 1095 | $2806802 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 13.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter | 48336 | 343544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NU Holdings, Cl A\* | 150308 | 1805199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital, Cl A | 34692 | 309106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;StoneCo, Cl A\* | 42523 | 580439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XP, Cl A | 58839 | 1139123 |
|  |  | 4177411 |
|  |  | 6984213 |
| **India — 41.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Info Edge India | 51279 | 855399 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 11.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrainBees Solutions\* | 35429 | 144262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FSN E-Commerce Ventures\* | 176186 | 418482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jubilant Foodworks | 63216 | 484268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MakeMyTrip\* | 10588 | 1076059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zomato\* | 437565 | 1218535 |
|  |  | 3341606 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Energy — 8.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries | 151572 | 2516724 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 16.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angel One | 6987 | 247849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bajaj Finance | 16772 | 1799303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indian Energy Exchange | 124048 | 290714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jio Financial Services\* | 335532 | 1123929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One 97 Communications\* | 48668 | 506415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PB Fintech\* | 53986 | 1111326 |
|  |  | 5079536 |
| &nbsp;&nbsp;&nbsp;*Information Technology — 2.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swiggy\* | 179561 | 698835 |
|  |  | 12492100 |
| **Indonesia — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;*Consumer Discretionary — 1.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GoTo Gojek Tokopedia, Cl A\* | 145981900 | 573532 |

---

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **Kazakhstan — 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 3.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kaspi.KZ JSC ADR | 12254 | $977440 |
| **Poland — 7.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 2.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CD Projekt | 10878 | 644334 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 5.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allegro.eu\* | 95805 | 881282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCC\* | 11433 | 666827 |
|  |  | 1548109 |
|  |  | 2192443 |
| **Russia — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 0.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VK GDR<sup>(A)</sup>\* | 7810 | 78 |
| **Singapore — 13.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 9.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sea ADR\* | 17823 | 2858275 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Industrials — 4.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grab Holdings, Cl A\* | 260774 | 1269969 |
|  |  | 4128244 |
| **South Africa — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MultiChoice Group\* | 43659 | 282638 |
| **South Korea — 9.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Communication Services — 4.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kakao | 16720 | 517463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NAVER | 5103 | 693493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCSoft | 977 | 107989 |
|  |  | 1318945 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Consumer Discretionary — 4.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coupang, Cl A\* | 32595 | 914290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery Hero, Cl A\* | 11485 | 317876 |
|  |  | 1232166 |

---

**FMQQ**

**The Next Frontier Internet ETF**

Schedule of Investments

May 31, 2025 (Unaudited) (Concluded)

---

| | | |
|:---|:---|:---|
| Description | Shares | Fair Value |
| **South Korea — continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Financials — 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KakaoBank | 12019 | $204716 |
|  |  | 2755827 |
| Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $23,475,098) |  | 30386515 |
| <br>Total Investments - 100.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $23,475,098) |  | $30386515 |

---

Percentages are based on net assets of $30,121,148.

---

| | |
|:---|:---|
| *††* | *Industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting.* |
| *\** | *Non-income producing security.* |
| *(A)* | *Security is fair valued.* |

---

*ADR — American Depositary Receipt*

*Cl — Class*

*GDR — Global Depositary Receipt*

*JSC — Joint-Stock Company*

 

EMQ-QH-001-2100

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EXCHANGE TRADED CONCEPTS TRUST

- **b. Investment Company Act file number:** 811-22263

- **c. CIK number of Registrant:** 0001452937

- **d. LEI of Registrant:** 549300TXJW88BSB0KL90

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

  - **Street Address 1:** 10900 HEFNER POINTE DRIVE

  - **City:** OKLAHOMA CITY

  - **State:** OK

  - **Foreign country:** US

  - **Zip / Postal Code:** 73120

  - **Telephone number:** 4057788377

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

- **a. Name of Series:** FMQQ The Next Frontier Internet ETF

- **b. EDGAR series identifier (if any):** S000073704

- **c. LEI of Series:** 549300RHTKUJDQ8LQE59

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $30418841.61

**Total Liabilities:** $296983.77

**Net Assets:** $30121857.84

**Cash Not Reported:** $19294.20

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230780 | 3.43%                | 8.21%                | 1.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $65401.26                | $1014904.18                                |
| Month 2  | $253947.31               | $2143706.89                                |
| Month 3  | $0.00                    | $358969.08                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CD Projekt SA                  | CD PROJEKT SA COMMON STOCK                | CUSIP: X0957E106<br>LEI: 259400TYO5Q8SH8TL437 | Long             | EC               |  | PL        |     10878 | NS      | $644333.87    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAB HOLDINGS LIMITED          | GRAB HOLDINGS LTD - CL A COMMON STOCK     | CUSIP: G4124C109<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               |  | US        |    260774 | NS      | $1269969.38   | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BAJAJ FINANCE LIMITED          | BAJAJ FINANCE LTD COMMON STOCK            | CUSIP: Y05473122<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               |  | IN        |     16772 | NS      | $1799302.90   | 5.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                    | ETERNAL LTD COMMON STOCK                  | CUSIP: N/A<br>LEI: 335800T4VOF9ETHF8W59       | Long             | EC               |  | IN        |    437565 | NS      | $1218534.80   | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC SPOLKA AKCYJNA             | CCC SA COMMON STOCK                       | CUSIP: X5818P109<br>LEI: 259400NWPQ2HCSMZP970 | Long             | EC               |  | PL        |     11433 | NS      | $666827.04    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiggy Ltd                     | SWIGGY LTD COMMON STOCK                   | CUSIP: N/A<br>LEI: 335800R11DC3QR7KH186       | Long             | EC               |  | IN        |    179561 | NS      | $698834.84    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| JIO FINANCIAL SERVICES LIMITED | JIO FINANCIAL SERVICES LTD COMMON STOCK   | CUSIP: N/A<br>LEI: 3358003O268Q1OGBQR42       | Long             | EC               |  | IN        |    335532 | NS      | $1123929.28   | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| COUPANG, INC.                  | COUPANG INC COMMON STOCK                  | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               |  | US        |     32595 | NS      | $914289.75    | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Joint Stock Company Kaspi.kz   | JSC KASPI.KZ ADR DEPOSITARY RECEIPT       | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               |  | US        |     12254 | NS      | $977440.31    | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter & Co, Inc.               | INTER & CO INC - BDR DEPOSITARY RECEIPT   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | BR        |     48336 | NS      | $343543.52    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MultiChoice Group Limited      | MULTICHOICE GROUP LTD COMMON STOCK        | CUSIP: N/A<br>LEI: 254900BVQQ7DFBMSVJ81       | Long             | EC               |  | ZA        |     43659 | NS      | $282638.08    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Energy Exchange Ltd     | INDIAN ENERGY EXCHANGE LTD COMMON STOCK   | CUSIP: N/A<br>LEI: 335800JRG8ZOKN1KAE97       | Long             | EC               |  | IN        |    124048 | NS      | $290713.72    | 0.97%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Fsn E-Commerce Ventures Ltd    | FSN E-COMMERCE VENTURES LTD COMMON STOCK  | CUSIP: N/A<br>LEI: 335800X5BJYC18NHDQ91       | Long             | EC               |  | IN        |    176186 | NS      | $418481.64    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE 97 COMMUNICATIONS LIMITED  | ONE 97 COMMUNICATIONS LTD COMMON STOCK    | CUSIP: N/A<br>LEI: 335800ZRHU5J6GSTMI23       | Long             | EC               |  | IN        |     48668 | NS      | $506414.50    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro.eu SA                  | ALLEGRO.EU SA COMMON STOCK                | CUSIP: N/A<br>LEI: 222100VRLXV3FPMG4982       | Long             | EC               |  | PL        |     95805 | NS      | $881281.66    | 2.93%             |  |  |  | Yes           |                  1 | On Loan: No      |
| GoTo Gojek Tokopedia PT Tbk    | GOTO GOJEK TOKOPEDIA TBK PT COMMON STOCK  | CUSIP: N/A<br>LEI: 254900MT2CH1Y5Y7OX69       | Long             | EC               |  | ID        | 145981900 | NS      | $573532.33    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER Corporation              | NAVER CORP COMMON STOCK                   | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | EC               |  | KR        |      5103 | NS      | $693493.15    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGEL ONE LIMITED              | ANGEL ONE LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 3358003DRK7SFA3Q3214       | Long             | EC               |  | IN        |      6987 | NS      | $247849.69    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SEA LIMITED                    | SEA LTD-ADR DEPOSITARY RECEIPT            | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               |  | US        |     17823 | NS      | $2858274.51   | 9.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.             | MERCADOLIBRE INC COMMON STOCK             | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               |  | US        |      1095 | NS      | $2806802.55   | 9.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PAGSEGURO DIGITAL LTD.         | PAGSEGURO DIGITAL LTD-CL A COMMON STOCK   | CUSIP: G68707101<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               |  | US        |     34692 | NS      | $309105.72    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc.                        | XP INC - CLASS A COMMON STOCK             | CUSIP: G98239109<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               |  | US        |     58839 | NS      | $1139123.04   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Limited             | MAKEMYTRIP LTD COMMON STOCK               | CUSIP: V5633W109<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               |  | US        |     10588 | NS      | $1076058.44   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE INDUSTRIES LIMITED    | RELIANCE INDUSTRIES LTD COMMON STOCK      | CUSIP: Y72596102<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               |  | IN        |    151572 | NS      | $2516723.98   | 8.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Jubilant FoodWorks Limited     | JUBILANT FOODWORKS LTD COMMON STOCK       | CUSIP: N/A<br>LEI: 9845000D3B99893F5B14       | Long             | EC               |  | IN        |     63216 | NS      | $484268.17    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PB Fintech Ltd                 | PB FINTECH LTD COMMON STOCK               | CUSIP: N/A<br>LEI: 98450083AC6B01HF1F87       | Long             | EC               |  | IN        |     53986 | NS      | $1111326.18   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Holdings Ltd                | NU HOLDINGS LTD/CAYMAN ISL-A COMMON STOCK | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               |  | US        |    150308 | NS      | $1805199.08   | 5.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NCsoft Corporation             | NCSOFT CORP COMMON STOCK                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |       977 | NS      | $107989.06    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| INFO EDGE (INDIA) LIMITED      | INFO EDGE INDIA LTD COMMON STOCK          | CUSIP: N/A<br>LEI: 335800MXUVHTBF9DEC78       | Long             | EC               |  | IN        |     51279 | NS      | $855399.04    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Delivery Hero SE               | DELIVERY HERO SE COMMON STOCK             | CUSIP: N/A<br>LEI: 529900C3EX1FZGE48X78       | Long             | EC               |  | DE        |     11485 | NS      | $317876.05    | 1.06%             |  |  |  | Yes           |                  1 | On Loan: No      |
| N/A                            | VK CO LTD DEPOSITARY RECEIPT              | CUSIP: 560317208<br>LEI: N/A                  | Long             | EC               |  | GB        |      7810 | NS      | $78.10        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Kakao Corp.                    | KAKAO CORP COMMON STOCK                   | CUSIP: N/A<br>LEI: 988400FTKUBQXKVZP434       | Long             | EC               |  | KR        |     16720 | NS      | $517463.22    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneCo Ltd.                   | STONECO LTD-A COMMON STOCK                | CUSIP: G85158106<br>LEI: 549300O1A9LEF0XZCR35 | Long             | EC               |  | US        |     42523 | NS      | $580438.95    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Brainbees Solutions Ltd        | BRAINBEES SOLUTIONS LTD COMMON STOCK      | CUSIP: N/A<br>LEI: 984500FBE5B11U0E8846       | Long             | EC               |  | IN        |     35429 | NS      | $144262.17    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| KakaoBank Corp                 | KAKAOBANK CORP COMMON STOCK               | CUSIP: N/A<br>LEI: 988400VAVCFSK6VF9Q87       | Long             | EC               |  | KR        |     12019 | NS      | $204715.88    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-31

**Name of Applicant:** EXCHANGE TRADED CONCEPTS TRUST

**Signature:** Dennis Lowenfels

**Name of Signer:** Dennis Lowenfels

**Title:** CCO