WEBs ETF Trust
WEBs Utilities XLU Defined Volatility ETF
Schedule of Investments
July 31, 2026 (unaudited)
| SECURITY DESCRIPTION | SHARES | VALUE | ||||||
| EXCHANGE-TRADED FUNDS – 50.0% | ||||||||
| United States – 50.0% | ||||||||
| State Street Utilities Select Sector SPDR ETF(1) | 2,978 | $ | 132,074 | |||||
| TOTAL EXCHANGE-TRADED FUNDS | ||||||||
| (Cost - $126,639) | 132,074 | |||||||
| PRINCIPAL | ||||||||
| AMOUNT | ||||||||
| SHORT-TERM INVESTMENTS – 47.1% | ||||||||
| Time Deposits –47.1% | ||||||||
| Citibank, New York, 2.98% 08/03/2026 | $ | 124,278 | 124,278 | |||||
| TOTAL SHORT-TERM INVESTMENTS | ||||||||
| (Cost - $124,278) | 124,278 | |||||||
| TOTAL INVESTMENTS – 97.1% | ||||||||
| (Cost - $250,917) | 256,352 | |||||||
| OTHER ASSETS LESS LIABILITIES – 2.9% | 7,784 | |||||||
| NET ASSETS – 100.0% | $ | 264,136 | ||||||
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 | ||||||||||||||
| Wells Fargo State Street Utilities Select Sector SPDR ETF | USONFFE + 1.00% | Varies(2) | USD | 267 | 08/25/2026 | $ | 7,982 | |||||||
| (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) | Payments for financing fee, dividends and total return occur at sale/reduction of the notional and at maturity date. |
Abbreviations used in this schedule:
USONFFE – Federal Funds Composite Interest Rate