# EDGAR Filing Document

**Accession Number:** 0001976322
**File Stem:** 0000894189-26-005255
**Filing Date:** 2026-2
**Character Count:** 37598
**Document Hash:** 79a379934c9d17c4f5fcefa58dcc28b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-005255.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000894189-26-005255

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Themes ETF Trust
- **CENTRAL INDEX KEY:** 0001976322

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23872
- **FILM NUMBER:** 26680140

**BUSINESS ADDRESS:**
- **STREET 1:** 34 EAST PUTNAM STREET
- **STREET 2:** SUITE 112
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** (646) 206-1788

**MAIL ADDRESS:**
- **STREET 1:** 34 EAST PUTNAM STREET
- **STREET 2:** SUITE 112
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Series and Classes Contracts Data

### Themes Transatlantic Defense ETF (Series ID: S000085497)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000250780 | Themes Transatlantic Defense ETF | NATO            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Themes Transatlantic Defense ETF** | **Themes Transatlantic Defense ETF** | **Themes Transatlantic Defense ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.9%** | **Shares** | **Value**  |
| **Consumer Discretionary Products - 0.1%** | **Consumer Discretionary Products - 0.1%** | |
| Colt CZ Group SE | 743 | $26782 |
| Smith & Wesson Brands, Inc. | 3006 | 29669 |
|  |  | 56451 |
| **Financial Services - 1.0%** | **Financial Services - 1.0%** |  |
| FTAI Aviation Ltd. | 2983 | 587204 |
| **Industrial Products - 97.0% <sup>(a)</sup>** | **Industrial Products - 97.0% <sup>(a)</sup>** |  |
| AAR Corp. <sup>(b)</sup> | 1141 | 94463 |
| AeroVironment, Inc. <sup>(b)</sup> | 937 | 226651 |
| Airbus SE | 16351 | 3812389 |
| AIRO Group Holdings, Inc. <sup>(b)</sup> | 1567 | 12818 |
| Altinay Savunma Teknolojileri AS <sup>(b)</sup> | 56610 | 19322 |
| Archer Aviation, Inc. - Class A <sup>(b)</sup> | 15555 | 116974 |
| Aselsan Elektronik Sanayi Ve Ticaret AS | 34432 | 185870 |
| Astronics Corp. <sup>(b)</sup> | 900 | 48816 |
| Avio SpA | 394 | 13590 |
| Axon Enterprise, Inc. <sup>(b)</sup> | 2185 | 1240927 |
| BAE Systems PLC | 88549 | 2045816 |
| Bodycote PLC | 5142 | 48379 |
| Boeing Co. <sup>(b)</sup> | 20822 | 4520806 |
| Bombardier, Inc. - Class B <sup>(b)</sup> | 2560 | 435511 |
| BWX Technologies, Inc. | 2721 | 470298 |
| Byrna Technologies, Inc. <sup>(b)</sup> | 1362 | 22868 |
| Cadre Holdings, Inc. | 803 | 32795 |
| Chemring Group PLC | 7930 | 50507 |
| Cirrus Aircraft Ltd. | 4017 | 28749 |
| Cohort PLC | 1320 | 16138 |
| Crane Co. | 1421 | 262075 |
| Curtiss-Wright Corp. | 1101 | 606948 |
| Dassault Aviation SA | 540 | 173755 |
| Drone Volt SACA <sup>(b)</sup> | 28528 | 22664 |
| Ducommun, Inc. <sup>(b)</sup> | 403 | 38337 |
| Exail Technologies SA <sup>(b)</sup> | 262 | 25094 |
| Firefly Aerospace, Inc. <sup>(b)</sup> | 4031 | 90174 |
| General Dynamics Corp. | 6471 | 2178527 |
| General Electric Co. | 16370 | 5042451 |
| HEICO Corp. | 1183 | 382807 |
| Hensoldt AG | 1880 | 162168 |
| Hexcel Corp. | 2335 | 172557 |
| Honeywell International, Inc. | 17762 | 3465189 |
| Howmet Aerospace, Inc. | 11758 | 2410625 |
| Huntington Ingalls Industries, Inc. | 1134 | 385639 |
| Innovative Solutions and Support, Inc. <sup>(b)</sup> | 2580 | 48865 |
| Intuitive Machines, Inc. <sup>(b)</sup> | 3175 | 51530 |
| Joby Aviation, Inc. <sup>(b)</sup> | 12960 | 171072 |
| Karman Holdings, Inc. <sup>(b)</sup> | 2260 | 165364 |
| Kratos Defense & Security Solutions, Inc. <sup>(b)</sup> | 4867 | 369454 |
| L3Harris Technologies, Inc. | 5500 | 1614635 |
| Leonardo DRS, Inc. | 1560 | 53180 |
| Leonardo SpA | 11609 | 670684 |
| LISI SA | 547 | 34135 |
| Loar Holdings, Inc. <sup>(b)</sup> | 563 | 38284 |
| Lockheed Martin Corp. | 5423 | 2622942 |
| Melrose Industries PLC | 36900 | 292665 |
| Mercury Systems, Inc. <sup>(b)</sup> | 1569 | 114553 |
| Mirion Technologies, Inc. <sup>(b)</sup> | 7019 | 164385 |
| Moog, Inc. - Class A | 835 | 203364 |
| MTU Aero Engines AG | 1582 | 660561 |
| National Presto Industries, Inc. | 274 | 29252 |
| Northrop Grumman Corp. | 4214 | 2402865 |
| OSI Systems, Inc. <sup>(b)</sup> | 459 | 117073 |
| QinetiQ Group PLC | 14021 | 83460 |
| Redwire Corp. <sup>(b)</sup> | 3163 | 24039 |
| RENK Group AG | 2395 | 150919 |
| Rheinmetall AG | 1232 | 2260086 |
| Rocket Lab Corp. <sup>(b)</sup> | 12367 | 862722 |
| Rolls-Royce Holdings PLC | 234640 | 3637241 |
| RTX Corp. | 29380 | 5388292 |
| Saab AB | 8875 | 518243 |
| Safran SA | 7833 | 2737665 |
| SDT Uzay VE Savunma Teknolojileri AS | 6505 | 26840 |
| Senior PLC | 11797 | 30977 |
| Textron, Inc. | 5334 | 464965 |
| Thales SA | 2559 | 691085 |
| TransDigm Group, Inc. | 1626 | 2162336 |
| Vertical Aerospace Ltd. <sup>(b)</sup> | 5277 | 28126 |
| Virgin Galactic Holdings, Inc. <sup>(b)</sup> | 7519 | 24136 |
|  |  | 57778692 |
| **Materials - 0.4%** | **Materials - 0.4%** |  |
| Solstice Advanced Materials, Inc. <sup>(b)</sup> | 4442 | 215792 |
| **Media - 0.0% <sup>(c)</sup>** | **Media - 0.0% <sup>(c)</sup>** |  |
| Defence Holdings PLC <sup>(b)</sup> | 751428 | 17725 |
| **Software & Technology Services - 0.2%** | **Software & Technology Services - 0.2%** |  |
| Amentum Holdings, Inc. <sup>(b)</sup> | 4179 | 121191 |
| **Tech Hardware & Semiconductors - 1.2%** | **Tech Hardware & Semiconductors - 1.2%** |  |
| Teledyne Technologies, Inc. <sup>(b)</sup> | 1349 | 688975 |
| **Telecommunications - 0.0% <sup>(c)</sup>** | **Telecommunications - 0.0% <sup>(c)</sup>** |  |
| Satellogic, Inc. <sup>(b)</sup> | 7667 | 14337 |
| **TOTAL COMMON STOCKS** (Cost $53,112,678) | **TOTAL COMMON STOCKS** (Cost $53,112,678) | 59480367 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.1%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 3.68% <sup>(d)</sup> | 89022 | 89022 |
| **TOTAL MONEY MARKET FUNDS** (Cost $89,022) | **TOTAL MONEY MARKET FUNDS** (Cost $89,022) | 89022 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $53,201,700**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $53,201,700**)** | 59569389 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | 3364 |
| **TOTAL NET ASSETS - 100.0%** |  | $59572753 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

PLC - Public Limited Company<br>

(a) To the extent that the Fund invests more heavily in a particular industries or sectors of the economy, its performance will be especially sensitive to developments that significantly affect
 those industries or sectors.

(b) Non-income producing security.

(c) Represents less than 0.05% of net assets.

(d) The rate shown represents the 7-day annualized yield as of December 31, 2025.

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Themes Transatlantic Defense ETF (the "Fund") 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 December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $59480367 | $– | $– | $59480367 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 89022 | – | – | 89022 |
| Total Investments | $59569389 | $– | $– | $59569389 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Themes ETF Trust

- **b. Investment Company Act file number:** 811-23872

- **c. CIK number of Registrant:** 0001976322

- **d. LEI of Registrant:** 529900NYKGD1N3B8DB45

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 34 East Putnam Avenue

  - **City:** Greenwich

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06830

  - **Telephone number:** 646-206-1788

**Item A.2. Information about the Series.**

- **a. Name of Series:** Themes Transatlantic Defense ETF

- **b. EDGAR series identifier (if any):** S000085497

- **c. LEI of Series:** 529900QUWB78QWNRGQ63

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $59604452.83

**Total Liabilities:** $31700.15

**Net Assets:** $59572752.68

**Cash Not Reported:** $11888.88

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250780 | -0.62%               | -5.68%               | 4.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-353.86                 | $-274946.46                                |
| Month 2  | $464497.94               | $-4147975.92                               |
| Month 3  | $520632.27               | $2025497.40                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BAE Systems PLC                | BAE Systems PLC                          | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |     88549 | NS      | $2045816.46   | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Solutions and Suppo | Innovative Solutions and Support Inc     | CUSIP: 45769N105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2580 | NS      | $48865.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LISI SA                        | LISI SA                                  | CUSIP: N/A<br>LEI: 969500UU4O58BR802Y55       | Long             | EC               | CORP              | FR        |       547 | NS      | $34134.47     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi Ve T | Aselsan Elektronik Sanayi Ve Ticaret AS  | CUSIP: N/A<br>LEI: 7890008XT4M710MU8714       | Long             | EC               | CORP              | TR        |     34432 | NS      | $185869.59    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                      | Safran SA                                | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |      7833 | NS      | $2737665.35   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohort PLC                     | Cohort PLC                               | CUSIP: N/A<br>LEI: 213800WE61C73LZZNW11       | Long             | EC               | CORP              | GB        |      1320 | NS      | $16138.14     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                     | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      2721 | NS      | $470297.64    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Avio SpA                       | Avio SpA                                 | CUSIP: N/A<br>LEI: 8156008F25C4B0E7C860       | Long             | EC               | CORP              | IT        |       394 | NS      | $13589.88     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                       | RTX Corp                                 | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     29380 | NS      | $5388292.00   | 9.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwire Corp                   | Redwire Corp                             | CUSIP: 75776W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3163 | NS      | $24038.80     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RENK Group AG                  | RENK Group AG                            | CUSIP: N/A<br>LEI: 894500H8CNSZ53EI6K63       | Long             | EC               | CORP              | DE        |      2395 | NS      | $150918.89    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp                    | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      6471 | NS      | $2178526.86   | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Satellogic Inc                 | Satellogic Inc                           | CUSIP: 80401C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7667 | NS      | $14337.29     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                      | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1626 | NS      | $2162336.10   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Exail Technologies SA          | Exail Technologies SA                    | CUSIP: N/A<br>LEI: 549300EWC06TYV07XE53       | Long             | EC               | CORP              | FR        |       262 | NS      | $25094.02     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Drone Volt SACA                | Drone Volt SACA                          | CUSIP: N/A<br>LEI: 969500OM23RBWMP49277       | Long             | EC               | CORP              | FR        |     28528 | NS      | $22663.62     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Senior PLC                     | Senior PLC                               | CUSIP: N/A<br>LEI: 5493002HQHWN5JQHKQ51       | Long             | EC               | CORP              | GB        |     11797 | NS      | $30976.53     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefly Aerospace Inc          | Firefly Aerospace Inc                    | CUSIP: 31816X106<br>LEI: 529900JPYLDP30163X55 | Long             | EC               | CORP              | US        |      4031 | NS      | $90173.47     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co            | General Electric Co                      | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     16370 | NS      | $5042451.10   | 8.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     17762 | NS      | $3465188.58   | 5.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solu | Kratos Defense & Security Solutions Inc  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      4867 | NS      | $369453.97    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp                | Rocket Lab Corp                          | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12367 | NS      | $862721.92    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC       | Rolls-Royce Holdings PLC                 | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |    234640 | NS      | $3637241.03   | 6.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Melrose Industries PLC         | Melrose Industries PLC                   | CUSIP: N/A<br>LEI: 213800RGNXXZY2M7TR85       | Long             | EC               | CORP              | GB        |     36900 | NS      | $292665.29    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                    | Hexcel Corp                              | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      2335 | NS      | $172556.50    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc           | Howmet Aerospace Inc                     | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     11758 | NS      | $2410625.16   | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Machines Inc         | Intuitive Machines Inc                   | CUSIP: 46125A100<br>LEI: 254900386IE2PEPLVM59 | Long             | EC               | CORP              | US        |      3175 | NS      | $51530.25     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc               | Leonardo DRS Inc                         | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |      1560 | NS      | $53180.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc              | Loar Holdings Inc                        | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       563 | NS      | $38284.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc        | Mirion Technologies Inc                  | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |      7019 | NS      | $164384.98    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Moog Inc                       | Moog Inc                                 | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |       835 | NS      | $203364.25    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI Systems Inc                | OSI Systems Inc                          | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |       459 | NS      | $117072.54    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Wesson Brands Inc      | Smith & Wesson Brands Inc                | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |      3006 | NS      | $29669.22     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials In | Solstice Advanced Materials Inc          | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |      4442 | NS      | $215792.36    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Virgin Galactic Holdings Inc   | Virgin Galactic Holdings Inc             | CUSIP: 92766K403<br>LEI: 549300C631IMXCSMN048 | Long             | EC               | CORP              | US        |      7519 | NS      | $24135.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG            | MTU Aero Engines AG                      | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |      1582 | NS      | $660561.04    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB                        | Saab AB                                  | CUSIP: N/A<br>LEI: 549300ZHO4JCQQI13M69       | Long             | EC               | CORP              | SE        |      8875 | NS      | $518242.55    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd              | FTAI Aviation Ltd                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2983 | NS      | $587203.55    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Byrna Technologies Inc         | Byrna Technologies Inc                   | CUSIP: 12448X201<br>LEI: 529900SOEI1AVJ951E85 | Long             | EC               | CORP              | US        |      1362 | NS      | $22867.98     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadre Holdings Inc             | Cadre Holdings Inc                       | CUSIP: 12763L105<br>LEI: 2549006IKQEWJ8M7CB97 | Long             | EC               | CORP              | US        |       803 | NS      | $32794.52     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |     89022 | NS      | $89022.41     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                      | Airbus SE                                | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |     16351 | NS      | $3812389.41   | 6.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemring Group PLC             | Chemring Group PLC                       | CUSIP: N/A<br>LEI: 213800U9A54VQJ5P2J41       | Long             | EC               | CORP              | GB        |      7930 | NS      | $50506.49     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                       | AAR Corp                                 | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |      1141 | NS      | $94463.39     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment Inc                        | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |       937 | NS      | $226650.93    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRO Group Holdings Inc        | AIRO Group Holdings Inc                  | CUSIP: 009422106<br>LEI: 529900EUD8XWJZVS2615 | Long             | EC               | CORP              | US        |      1567 | NS      | $12818.06     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc           | Amentum Holdings Inc                     | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Long             | EC               | CORP              | US        |      4179 | NS      | $121191.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp                 | Astronics Corp                           | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |       900 | NS      | $48816.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc            | Axon Enterprise Inc                      | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      2185 | NS      | $1240927.05   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                            | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     20822 | NS      | $4520805.98   | 7.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                   | Ducommun Inc                             | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |       403 | NS      | $38337.39     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA                      | Thales SA                                | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |      2559 | NS      | $691085.18    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                     | HEICO Corp                               | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      1183 | NS      | $382806.97    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries  | Huntington Ingalls Industries Inc        | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      1134 | NS      | $385639.38    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc            | Karman Holdings Inc                      | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2260 | NS      | $165364.20    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      5500 | NS      | $1614635.00   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                     | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      5423 | NS      | $2622942.41   | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems Inc                      | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |      1569 | NS      | $114552.69    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries Inc | National Presto Industries Inc           | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       274 | NS      | $29252.24     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc      | Teledyne Technologies Inc                | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      1349 | NS      | $688974.77    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                    | Textron Inc                              | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      5334 | NS      | $464964.78    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA                   | Leonardo SpA                             | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | EC               | CORP              | IT        |     11609 | NS      | $670684.01    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bodycote PLC                   | Bodycote PLC                             | CUSIP: N/A<br>LEI: 213800V93QFW53NB7Y29       | Long             | EC               | CORP              | GB        |      5142 | NS      | $48379.31     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SDT Uzay VE Savunma Teknolojil | SDT Uzay VE Savunma Teknolojileri AS     | CUSIP: N/A<br>LEI: 789000GK4YB4RJQ6U234       | Long             | EC               | CORP              | TR        |      6505 | NS      | $26840.21     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Aviation SA           | Dassault Aviation SA                     | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |       540 | NS      | $173755.46    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG                    | Hensoldt AG                              | CUSIP: N/A<br>LEI: 894500686FYLLZD3M624       | Long             | EC               | CORP              | DE        |      1880 | NS      | $162168.01    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Joby Aviation Inc              | Joby Aviation Inc                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     12960 | NS      | $171072.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                 | Rheinmetall AG                           | CUSIP: N/A<br>LEI: 5299001OU9CSE29O6S05       | Long             | EC               | CORP              | DE        |      1232 | NS      | $2260085.55   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp          | Northrop Grumman Corp                    | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      4214 | NS      | $2402864.94   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC              | QinetiQ Group PLC                        | CUSIP: N/A<br>LEI: 213800S8OBDOZMCMUW34       | Long             | EC               | CORP              | GB        |     14021 | NS      | $83460.36     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Defence Holdings PLC           | Defence Holdings PLC                     | CUSIP: N/A<br>LEI: 213800IE96YMHXDJ7H92       | Long             | EC               | CORP              | GB        |    751428 | NS      | $17725.46     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bombardier Inc                 | Bombardier Inc                           | CUSIP: 097751861<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | EC               | CORP              | CA        |      2560 | NS      | $435510.55    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertical Aerospace Ltd         | Vertical Aerospace Ltd                   | CUSIP: N/A<br>LEI: 9845002F3CF4E56DA491       | Long             | EC               | CORP              | GB        |      5277 | NS      | $28126.41     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer Aviation Inc            | Archer Aviation Inc                      | CUSIP: 03945R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15555 | NS      | $116973.60    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                       | Crane Co                                 | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |      1421 | NS      | $262075.03    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                      | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      1101 | NS      | $606948.27    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Colt CZ Group SE               | Colt CZ Group SE                         | CUSIP: N/A<br>LEI: 315700O990GR61YDGF96       | Long             | EC               | CORP              | CZ        |       743 | NS      | $26781.81     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Altinay Savunma Teknolojileri  | Altinay Savunma Teknolojileri AS         | CUSIP: N/A<br>LEI: 789000AJWY3NGXUEV977       | Long             | EC               | CORP              | TR        |     56610 | NS      | $19321.94     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Aircraft Ltd            | Cirrus Aircraft Ltd                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4017 | NS      | $28749.26     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-02-24

**Name of Applicant:** Themes ETF Trust

**Signature:** /s/ Dobromir Kamburov

**Name of Signer:** Dobromir Kamburov

**Title:** Treasurer