# EDGAR Filing Document

**Accession Number:** 0001976322
**File Stem:** 0001145549-25-054748
**Filing Date:** 2025-8
**Character Count:** 19042
**Document Hash:** c824aa1beff946632306d013c993386f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-054748.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001145549-25-054748

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**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:** 251264392

**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 Airlines ETF (Series ID: S000081021)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000243660 | Themes Airlines ETF | AIRL            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Themes Airlines ETF** | **Themes Airlines ETF** | **Themes Airlines ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.6%** | **Shares** | **Value**  |
| **Industrial Services - 99.6%<sup>(a)</sup>** | **Industrial Services - 99.6%<sup>(a)</sup>** | |
| Air Canada <sup>(b)</sup> | 3465 | $53613 |
| Air France-KLM <sup>(b)</sup> | 2677 | 29181 |
| Alaska Air Group, Inc. <sup>(b)</sup> | 686 | 33943 |
| Allegiant Travel Co. <sup>(b)</sup> | 361 | 19837 |
| American Airlines Group, Inc. <sup>(b)</sup> | 3103 | 34816 |
| ANA Holdings, Inc. | 1900 | 37240 |
| Cathay Pacific Airways Ltd. | 13966 | 19037 |
| Copa Holdings SA - Class A | 386 | 42448 |
| Delta Air Lines, Inc. | 779 | 38311 |
| Deutsche Lufthansa AG | 5567 | 47084 |
| easyJet PLC | 6248 | 45643 |
| El Al Israel Airlines <sup>(b)</sup> | 6223 | 24387 |
| Exchange Income Corp. | 980 | 45144 |
| Finnair Oyj | 2084 | 6584 |
| Frontier Group Holdings, Inc. <sup>(b)</sup> | 1465 | 5318 |
| International Consolidated Airlines Group SA | 11542 | 54057 |
| Japan Airlines Co. Ltd. | 2200 | 44938 |
| JetBlue Airways Corp. <sup>(b)</sup> | 8042 | 34018 |
| Norwegian Air Shuttle ASA <sup>(b)</sup> | 16846 | 24393 |
| Qantas Airways Ltd. | 7188 | 50809 |
| Ryanair Holdings PLC - ADR | 837 | 48270 |
| Singapore Airlines Ltd. | 7774 | 42615 |
| Skymark Airlines, Inc. | 600 | 2062 |
| SkyWest, Inc. <sup>(b)</sup> | 382 | 39335 |
| Southwest Airlines Co. | 1208 | 39187 |
| Sun Country Airlines Holdings, Inc. <sup>(b)</sup> | 796 | 9353 |
| United Airlines Holdings, Inc. <sup>(b)</sup> | 487 | 38780 |
| Wizz Air Holdings PLC <sup>(b)(c)</sup> | 1775 | 26557 |
|  |  | 936960 |
| **TOTAL COMMON STOCKS** (Cost $832,461) | **TOTAL COMMON STOCKS** (Cost $832,461) | 936960 |
| **SHORT-TERM INVESTMENTS - 0.1%** |  | **Value**  |
| **Money Market Funds - 0.1%** | **<u>Shares</u>** |  |
| First American Treasury Obligations Fund - Class X, 4.24% <sup>(d)</sup> | 850 | 850 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $850) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $850) | 850 |
| **TOTAL INVESTMENTS - 99.7% (**Cost $833,311**)** | **TOTAL INVESTMENTS - 99.7% (**Cost $833,311**)** | 937810 |
| Other Assets in Excess of Liabilities - 0.3% | Other Assets in Excess of Liabilities - 0.3% | 2902 |
| **TOTAL NET ASSETS - 100.0%** |  | $940712 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

ADR - American Depositary Receipt <br> ASA - Advanced Subscription Agreement <br> PLC - Public Limited Company

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

(b) Non-income producing security.

(c) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only
 be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $26,557 or 2.8% of the Fund's net assets.

(d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

------

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Themes Airlines ETF 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 June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 936960 |  |  | 936960 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 850 |  |  | 850 |
| Total Investments | 937810 |  |  | 937810 |
| 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 Airlines ETF

- **b. EDGAR series identifier (if any):** S000081021

- **c. LEI of Series:** 52990041QOLEE099HO52

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $941000.30

**Total Liabilities:** $288.28

**Net Assets:** $940712.02

**Cash Not Reported:** $2412.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243660 | 0.43%                | 16.09%               | -0.21%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-44.26                  | $2587.51                                   |
| Month 2  | $-4902.64                | $132860.96                                 |
| Month 3  | $106.51                  | $-2826.90                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SkyWest Inc                    | SkyWest Inc                                  | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |       382 | NS      | $39334.54     | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Group Holdings Inc    | Frontier Group Holdings Inc                  | CUSIP: 35909R108<br>LEI: 549300DT3Y2BHO6G7T02 | Long             | EC               | CORP              | US        |      1465 | NS      | $5317.95      | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Lufthansa AG          | Deutsche Lufthansa AG                        | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | EC               | CORP              | DE        |      5567 | NS      | $47084.05     | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Skymark Airlines Inc           | Skymark Airlines Inc                         | CUSIP: N/A<br>LEI: 353800N7SBM9SJA4R382       | Long             | EC               | CORP              | JP        |       600 | NS      | $2062.43      | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Qantas Airways Ltd             | Qantas Airways Ltd                           | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |      7188 | NS      | $50808.62     | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC           | Ryanair Holdings PLC                         | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |       837 | NS      | $48269.79     | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| El Al Israel Airlines          | El Al Israel Airlines                        | CUSIP: N/A<br>LEI: 549300TW18OUVFDCDP95       | Long             | EC               | CORP              | IL        |      6223 | NS      | $24387.26     | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc   | United Airlines Holdings Inc                 | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |       487 | NS      | $38779.81     | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Exchange Income Corp           | Exchange Income Corp                         | CUSIP: 301283107<br>LEI: 549300G7SUZKHS2N8C38 | Long             | EC               | CORP              | CA        |       980 | NS      | $45144.41     | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Finnair Oyj                    | Finnair Oyj                                  | CUSIP: N/A<br>LEI: 213800SB6EOB8SSK9W63       | Long             | EC               | CORP              | FI        |      2084 | NS      | $6583.92      | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc           | Alaska Air Group Inc                         | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |       686 | NS      | $33943.28     | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines Inc                          | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |       779 | NS      | $38311.22     | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund     | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |       850 | NS      | $850.09       | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| International Consolidated Air | International Consolidated Airlines Group SA | CUSIP: N/A<br>LEI: 959800TZHQRUSH1ESL13       | Long             | EC               | CORP              | GB        |     11542 | NS      | $54056.59     | 5.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Copa Holdings SA               | Copa Holdings SA                             | CUSIP: N/A<br>LEI: 529900BB9UQJV6QQHA59       | Long             | EC               | CORP              | PA        |       386 | NS      | $42448.42     | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines Group Inc    | American Airlines Group Inc                  | CUSIP: 02376R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3103 | NS      | $34815.66     | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Airlines Ltd         | Singapore Airlines Ltd                       | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |      7774 | NS      | $42614.85     | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| easyJet PLC                    | easyJet PLC                                  | CUSIP: N/A<br>LEI: 2138001S47XKWIB7TH90       | Long             | EC               | CORP              | GB        |      6248 | NS      | $45643.02     | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co Ltd          | Japan Airlines Co Ltd                        | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |      2200 | NS      | $44938.02     | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Norwegian Air Shuttle ASA      | Norwegian Air Shuttle ASA                    | CUSIP: N/A<br>LEI: 549300IEUH2FEM2Y6B51       | Long             | EC               | CORP              | NO        |     16846 | NS      | $24393.06     | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co                        | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      1208 | NS      | $39187.52     | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings  | Sun Country Airlines Holdings Inc            | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |       796 | NS      | $9353.00      | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Wizz Air Holdings Plc          | Wizz Air Holdings Plc                        | CUSIP: N/A<br>LEI: 213800COXGZCORLJZA85       | Long             | EC               | CORP              | HU        |      1775 | NS      | $26557.27     | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| JetBlue Airways Corp           | JetBlue Airways Corp                         | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |      8042 | NS      | $34017.66     | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Canada                     | Air Canada                                   | CUSIP: 008911877<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | EC               | CORP              | CA        |      3465 | NS      | $53613.03     | 5.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay Pacific Airways Ltd     | Cathay Pacific Airways Ltd                   | CUSIP: N/A<br>LEI: EQNZNT235RBOJ6LJQZ02       | Long             | EC               | CORP              | HK        |     13966 | NS      | $19036.58     | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegiant Travel Co            | Allegiant Travel Co                          | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |       361 | NS      | $19836.95     | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ANA Holdings Inc               | ANA Holdings Inc                             | CUSIP: N/A<br>LEI: 5493008IRKIY0G3TE305       | Long             | EC               | CORP              | JP        |      1900 | NS      | $37240.03     | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Air France-KLM                 | Air France-KLM                               | CUSIP: N/A<br>LEI: 969500AQW31GYO8JZD66       | Long             | EC               | CORP              | FR        |      2677 | NS      | $29181.39     | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-26

**Name of Applicant:** Themes ETF Trust

**Signature:** /s/ Dobromir Kamburov

**Name of Signer:** Dobromir Kamburov

**Title:** Treasurer