WEBs ETF Trust
WEBs QQQ Defined Volatility ETF
Schedule of Investments
July 31, 2026 (unaudited)
| SECURITY DESCRIPTION | SHARES | VALUE | ||||||
| EXCHANGE-TRADED FUNDS – 47.8% | ||||||||
| United States – 47.8% | ||||||||
| Invesco QQQ Trust Series 1(1) | 1,370 | $ | 942,546 | |||||
| TOTAL EXCHANGE-TRADED FUNDS | ||||||||
| (Cost - $853,204) | 942,546 | |||||||
| PRINCIPAL | ||||||||
| AMOUNT | ||||||||
| SHORT-TERM INVESTMENTS – 47.7% | ||||||||
| Time Deposits – 47.7% | ||||||||
| Citibank, New York, 2.98% 08/03/2026(2) | $ | 939,604 | 939,604 | |||||
| TOTAL SHORT-TERM INVESTMENTS | ||||||||
| (Cost - $939,604) | 939,604 | |||||||
| TOTAL INVESTMENTS – 95.5% | ||||||||
| (Cost - $1,792,808) | 1,882,150 | |||||||
| OTHER ASSETS LESS LIABILITIES – 4.5% | 87,688 | |||||||
| NET ASSETS – 100.0% | $ | 1,969,838 | ||||||
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 Invesco QQQ Trust Series 1 | OBFR + 1.25% | Varies(3) | USD | 815 | 03/02/2027 | $ | 89,139 | |||||||||||||
| (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