Themes European Luxury ETF
  
Schedule of Investments
  
June 30, 2025 (Unaudited)
  
   
COMMON STOCKS - 95.2%
  
Shares
    
Value
 
Consumer Discretionary Products - 60.9%(a)
        
Aston Martin Lagonda Global Holdings PLC (b)(c)
    
21,271
    
$
23,358
  
Burberry Group PLC (b)
    
2,325
      
37,722
  
Capri Holdings Ltd. (b)
    
1,185
      
20,974
  
Cie Financiere Richemont SA
    
158
      
29,760
  
Coats Group PLC
    
24,906
      
27,179
  
Ermenegildo Zegna NV
    
3,398
      
29,053
  
Ferrari NV
    
65
      
31,860
  
Ferretti SpA
    
9,706
      
32,104
  
Hermes International SCA
    
11
      
29,789
  
Kering SA - ADR
    
1,147
      
24,993
  
LVMH Moet Hennessy Louis Vuitton SE
    
40
      
20,949
  
Prada SpA
    
3,618
      
22,446
  
Salvatore Ferragamo SpA (b)
    
3,985
      
23,471
  
Swatch Group AG
    
162
      
26,359
  
Watches of Switzerland Group PLC (b)(c)
    
4,490
      
25,269
  
             
405,286
  
                 
Consumer Discretionary Services - 8.4%
          
Accor SA
    
581
      
30,339
  
InterContinental Hotels Group PLC
    
225
      
25,646
  
             
55,985
  
                 
Consumer Staple Products - 4.4%
          
Interparfums SA
    
750
      
29,180
  
                 
Materials - 4.8%
          
Givaudan SA - ADR
    
332
      
32,151
  
                 
Retail & Wholesale - Discretionary - 16.7%
          
Brunello Cucinelli SpA
    
237
      
28,811
  
Hugo Boss AG
    
672
      
31,085
  
LuxExperience BV - ADR (b)
    
3,007
      
23,876
  
Moncler SpA
    
484
      
27,588
  
             
111,360
  
TOTAL COMMON STOCKS (Cost $679,593)
      
633,962
  
                 
PREFERRED STOCKS - 4.6%
  
Shares
    
Value
 
Consumer Discretionary Products - 4.6%
          
Porsche Automobil Holding SE, 0.00%
    
779
      
30,915
  
TOTAL PREFERRED STOCKS (Cost $35,945)
      
30,915
  
                 
TOTAL INVESTMENTS - 99.8% (Cost $715,538)
      
664,877
  
Other Assets in Excess of Liabilities - 0.2%
      
1,224
  
TOTAL NET ASSETS - 100.0%
          
$
666,101
  
two
      
–
%
Percentages are stated as a percent of net assets.
      
–
%

ADR - American Depositary Receipt
PLC - Public Limited Company

(a)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)
Non-income producing security.
(c)
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 June 30, 2025, the value of these securities total $48,627 or 7.3% of the Fund’s net assets.
Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
 
Themes European Luxury ETF has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of June 30, 2025:
 

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Common Stocks
    
633,962
      
–
      
–
      
633,962
  
  Preferred Stocks
    
30,915
      
–
      
–
      
30,915
  
Total Investments
    
664,877
      
–
      
–
      
664,877
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.