Tema Monopolies and Oligopolies ETF
|
||||||||
Schedule of Investments
|
||||||||
May 31, 2025 (Unaudited)
|
||||||||
COMMON STOCKS - 98.9%
|
Shares
|
Value
|
||||||
Aerospace & Defense - 8.1%
|
||||||||
Airbus SE
|
4,806
|
$
|
884,464
|
|||||
General Electric Co.
|
14,746
|
3,626,189
|
||||||
4,510,653
|
||||||||
Biotechnology - 3.9%
|
||||||||
Gilead Sciences, Inc.
|
11,501
|
1,266,030
|
||||||
Vertex Pharmaceuticals, Inc. (a)
|
2,083
|
920,790
|
||||||
2,186,820
|
||||||||
Capital Markets - 18.4%
|
||||||||
Cboe Global Markets, Inc.
|
4,827
|
1,105,962
|
||||||
CME Group, Inc.
|
6,720
|
1,942,080
|
||||||
Intercontinental Exchange, Inc.
|
11,361
|
2,042,708
|
||||||
Moody's Corp.
|
3,769
|
1,806,557
|
||||||
MSCI, Inc.
|
3,045
|
1,717,441
|
||||||
S&P Global, Inc.
|
3,302
|
1,693,464
|
||||||
10,308,212
|
||||||||
Chemicals - 3.0%
|
||||||||
Sherwin-Williams Co.
|
4,719
|
1,693,225
|
||||||
Commercial Services & Supplies - 2.9%
|
||||||||
Copart, Inc. (a)
|
31,584
|
1,625,944
|
||||||
Construction & Engineering - 3.6%
|
||||||||
Ferrovial SE
|
39,987
|
2,035,877
|
||||||
Construction Materials - 1.8%
|
||||||||
Vulcan Materials Co.
|
3,729
|
988,446
|
||||||
Consumer Staples Distribution & Retail - 5.6%
|
||||||||
Performance Food Group Co. (a)
|
22,141
|
1,982,948
|
||||||
US Foods Holding Corp. (a)
|
14,549
|
1,151,117
|
||||||
3,134,065
|
||||||||
Electric Utilities - 0.9%
|
||||||||
Entergy Corp.
|
6,207
|
516,919
|
||||||
Electronic Equipment, Instruments & Components - 0.5%
|
||||||||
Keysight Technologies, Inc. (a)
|
1,711
|
268,696
|
||||||
Financial Services - 6.1%
|
||||||||
Visa, Inc. - Class A
|
9,427
|
3,442,646
|
||||||
Ground Transportation - 4.4%
|
||||||||
Canadian National Railway Co.
|
9,442
|
990,843
|
||||||
Canadian Pacific Kansas City Ltd.
|
17,829
|
1,455,738
|
||||||
2,446,581
|
||||||||
Health Care Equipment & Supplies - 3.7%
|
||||||||
Align Technology, Inc. (a)
|
4,009
|
725,388
|
||||||
Becton Dickinson & Co.
|
2,364
|
408,003
|
||||||
IDEXX Laboratories, Inc. (a)
|
1,869
|
959,470
|
||||||
2,092,861
|
||||||||
Health Care Providers & Services - 1.5%
|
||||||||
Elevance Health, Inc.
|
2,251
|
864,024
|
||||||
Household Products - 1.4%
|
||||||||
Church & Dwight Co., Inc.
|
7,748
|
761,706
|
||||||
Insurance - 2.6%
|
||||||||
Aon PLC - Class A
|
3,881
|
1,444,043
|
||||||
Life Sciences Tools & Services - 4.1%
|
||||||||
Thermo Fisher Scientific, Inc.
|
3,168
|
1,276,134
|
||||||
Waters Corp. (a)
|
2,952
|
1,030,956
|
||||||
2,307,090
|
||||||||
Machinery - 3.8%
|
||||||||
Deere & Co.
|
2,509
|
1,270,206
|
||||||
Donaldson Co., Inc.
|
12,440
|
865,202
|
||||||
2,135,408
|
||||||||
Semiconductors & Semiconductor Equipment - 7.2%
|
||||||||
Analog Devices, Inc.
|
4,259
|
911,341
|
||||||
KLA Corp.
|
1,905
|
1,441,856
|
||||||
Lam Research Corp.
|
14,066
|
1,136,392
|
||||||
ON Semiconductor Corp. (a)
|
12,701
|
533,696
|
||||||
4,023,285
|
||||||||
Software - 11.1%
|
||||||||
Fair Isaac Corp. (a)
|
901
|
1,555,378
|
||||||
Fortinet, Inc. (a)
|
11,063
|
1,125,992
|
||||||
Intuit, Inc.
|
3,662
|
2,759,207
|
||||||
Synopsys, Inc. (a)
|
1,612
|
747,936
|
||||||
6,188,513
|
||||||||
Specialty Retail - 2.0%
|
||||||||
Lowe's Cos., Inc.
|
5,046
|
1,139,034
|
||||||
Transportation Infrastructure - 2.3%
|
||||||||
Aena SME SA (b)
|
4,722
|
1,270,695
|
||||||
TOTAL COMMON STOCKS (Cost $50,147,510)
|
55,384,743
|
|||||||
SHORT-TERM INVESTMENTS - 1.1%
|
Shares
|
Value
|
||||||
Money Market Funds - 1.1%
|
||||||||
First American Treasury Obligations Fund - Class X, 4.23% (c)
|
613,788
|
613,788
|
||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $613,788)
|
613,788
|
|||||||
TOTAL INVESTMENTS - 100.0% (Cost $50,761,298)
|
$
|
55,998,531
|
||||||
Other Assets in Excess of Liabilities - 0.0% (d)
|
21,859
|
|||||||
TOTAL NET ASSETS - 100.0%
|
$
|
56,020,390
|
||||||
two
|
–
|
%
|
||||||
Percentages are stated as a percent of net assets.
|
–
|
%
|
||||||
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI,
Inc. ("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S.
Bank Global Fund Services.
|
PLC - Public Limited Company
|
(a)
|
Non-income producing security.
|
(b)
|
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
institutional investors. As of May 31, 2025, the value of these securities total $1,270,695 or 2.3% of the Fund’s net assets.
|
(c)
|
The rate shown represents the 7-day annualized effective yield as of May 31, 2025.
|
(d)
|
Represents less than 0.05% of net assets.
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Investments:
|
||||||||||||||||
Common Stocks
|
$
|
55,384,743
|
$
|
–
|
$
|
–
|
$
|
55,384,743
|
||||||||
Money Market Funds
|
613,788
|
–
|
–
|
613,788
|
||||||||||||
Total Investments
|
$
|
55,998,531
|
$
|
–
|
$
|
–
|
$
|
55,998,531
|
||||||||
Refer to the Schedule of Investments for further disaggregation of investment categories.
|
Allocation of Portfolio Holdings by Country as of May 31, 2025
|
||||||||
(% of Net Assets)
|
||||||||
United States
|
$
|
47,916,871
|
85.5
|
%
|
||||
Canada
|
2,446,581
|
4.4
|
||||||
Netherlands
|
2,035,877
|
3.6
|
||||||
United Kingdom
|
1,444,043
|
2.6
|
||||||
Spain
|
1,270,695
|
2.3
|
||||||
France
|
884,464
|
1.6
|
||||||
Other Assets in Excess of Liabilities
|
21,859
|
0.0
|
(a)
|
|||||
$
|
56,020,390
|
100.0
|
%
|
(a)
|
Represents less than 0.05% of net assets.
|
Sector Classification as of May 31, 2025
|
||||||||
(% of Net Assets)
|
||||||||
Financials
|
$
|
15,194,901
|
27.1
|
%
|
||||
Industrials
|
14,025,158
|
25.1
|
||||||
Information Technology
|
10,480,494
|
18.8
|
||||||
Health Care
|
7,450,795
|
13.2
|
||||||
Consumer Staples
|
3,895,771
|
7.0
|
||||||
Materials
|
2,681,671
|
4.8
|
||||||
Consumer Discretionary
|
1,139,034
|
2.0
|
||||||
Utilities
|
516,919
|
0.9
|
||||||
Money Market Funds
|
613,788
|
1.1
|
||||||
Other Assets in Excess of Liabilities
|
21,859
|
0.0
|
(a)
|
|||||
56,020,390
|
100.0
|
%
|
(a)
|
Represents less than 0.05% of net assets.
|