WEBs ETF Trust
WEBs Defined Volatility XLY ETF
Schedule of Investments
July 31, 2025 (unaudited)
| SECURITY DESCRIPTION | SHARES | VALUE | ||||||
| EXCHANGE-TRADED FUNDS – 51.5% | ||||||||
| United States – 51.5% | ||||||||
| Consumer Discretionary Select Sector SPDR Fund | 559 | $ | 123,779 | |||||
| TOTAL EXCHANGE-TRADED FUNDS (Cost - $126,043) | 123,779 | |||||||
| PRINCIPAL | ||||||||
| AMOUNT | ||||||||
| SHORT-TERM INVESTMENTS – 51.6% | ||||||||
| Time Deposits – 51.6% | ||||||||
| Citibank, New York, 3.68% 08/01/2025 | $ | 3,987 | 3,987 | |||||
| Sumitomo Mitsui Trust Bank, London, 3.68% 08/01/2025(1) | 120,000 | 120,000 | ||||||
| TOTAL TIME DEPOSITS (Cost - $123,987) | 123,987 | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost - $123,987) | 123,987 | |||||||
| TOTAL INVESTMENTS – 103.1% (Cost - $250,030) | 247,766 | |||||||
| OTHER ASSETS LESS LIABILITIES – (3.1)% | (7,408 | ) | ||||||
| NET ASSETS – 100.0% | $ | 240,358 | ||||||
| TOTAL RETURN SWAPS | ||||||||||||||
| Counterparty & Reference Instrument | Rate Paid/ Received | Payment Frequency | Current (000) | Maturity Date | Value and Unrealized Appreciation/ (Depreciation) | |||||||||
| Receive Total Return on Reference Instrument | ||||||||||||||
| Clear Street LLC Consumer Discretionary Select Sector SPDR Fund | OBFR + 1.25% | Monthly | USD | 327 | 08/25/2026 | $ | (6,285 | ) | ||||||
| (1) | Position, or a portion thereof, has been segregated to collateralize derivatives outstanding. |
Abbreviations used in this schedule:
LLC – Limited Liability Company
OBFR – Overnight Bank Funding Rate