WEBs ETF Trust
WEBs Materials XLB Defined Volatility ETF
Schedule of Investments
July 31, 2026 (unaudited)
| SECURITY DESCRIPTION | SHARES | VALUE | ||||||
| EXCHANGE-TRADED FUNDS – 51.0% | ||||||||
| United States – 51.0% | ||||||||
| State Street Materials Select Sector SPDR ETF(1) | 2,742 | $ | 138,279 | |||||
| TOTAL EXCHANGE-TRADED FUNDS (Cost - $126,036) | 138,279 | |||||||
| PRINCIPAL | ||||||||
| AMOUNT | ||||||||
| SHORT-TERM INVESTMENTS – 41.8% | ||||||||
| Time Deposits – 41.8% | ||||||||
| Citibank, New York, 2.98% 08/03/2026(2) | $ | 70,000 | 70,000 | |||||
| JPMorgan Chase, New York, 2.98% 08/03/2026 | 43,594 | 43,594 | ||||||
| TOTAL TIME DEPOSITS (Cost - $113,594) | 113,594 | |||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost - $113,594) | 113,594 | |||||||
| TOTAL INVESTMENTS – 92.8% (Cost - $239,630) | 251,873 | |||||||
| OTHER ASSETS LESS LIABILITIES – 7.2% | 19,659 | |||||||
| NET ASSETS – 100.0% | $ | 271,532 | ||||||
TOTAL RETURN SWAPS
| Counterparty & Reference Instrument | Rate Paid/ Received | Payment Frequency | Current Notional (000) | Maturity Date | Value and Unrealized Appreciation/ (Depreciation) | |||||||||||||||
| Receive Total Return on Reference Instrument | ||||||||||||||||||||
| Clear Street LLC State Street Materials Select Sector SPDR ETF | OBFR + 1.25% | Varies(3) | USD | 244 | 08/25/2026 | $ | 19,858 | |||||||||||||
| (1) | Fair value of this security exceeds 25% of the Fund’s net assets. Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at www.sec.gov. |
| (2) | Position, or a portion thereof, has been segregated to collateralize derivatives outstanding. |
| (3) | Payment frequency is monthly for financing fee, at maturity for total return, including dividends. |
Abbreviations used in this schedule:
LLC – Limited Liability Company
OBFR – Overnight Bank Funding Rate