# EDGAR Filing Document

**Accession Number:** 0001944285
**File Stem:** 0000894189-26-001076
**Filing Date:** 2026-1
**Character Count:** 21906
**Document Hash:** d02f53a308f63db13410fa38c09fe6b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-001076.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0000894189-26-001076

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260121

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tema ETF Trust
- **CENTRAL INDEX KEY:** 0001944285

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23823
- **FILM NUMBER:** 26548817

**BUSINESS ADDRESS:**
- **STREET 1:** 1919 M STREET, N.W., SUITE 700
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 3024994928 EXT. 801

**MAIL ADDRESS:**
- **STREET 1:** 1919 M STREET, N.W., SUITE 700
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

## Series and Classes Contracts Data

### Tema International Defense Innovation ETF (Series ID: S000093386)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000261603 | Tema International Defense Innovation ETF | GDFN            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Tema International Defense Innovation ETF** | **Tema International Defense Innovation ETF** | **Tema International Defense Innovation ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.1%** | **Shares** | **Value**  |
| **Aerospace & Defense - 87.9% <sup>(a)</sup>** | **Aerospace & Defense - 87.9% <sup>(a)</sup>** | |
| AeroVironment, Inc. <sup>(b)</sup> | 60 | $16768 |
| Airbus SE | 144 | 34162 |
| Avio SpA | 548 | 15865 |
| Avon Technologies PLC | 580 | 13927 |
| Babcock International Group PLC | 3556 | 53331 |
| BAE Systems PLC | 2008 | 43870 |
| Boeing Co. <sup>(b)</sup> | 52 | 9828 |
| Chemring Group PLC | 4380 | 27916 |
| Dassault Aviation SA | 160 | 50238 |
| Elbit Systems Ltd. | 96 | 44978 |
| General Dynamics Corp. | 36 | 12299 |
| Hensoldt AG | 556 | 44096 |
| Kongsberg Gruppen ASA | 1144 | 27102 |
| L3Harris Technologies, Inc. | 52 | 14492 |
| Leonardo DRS, Inc. | 296 | 10114 |
| Leonardo SpA | 824 | 44852 |
| Lockheed Martin Corp. | 32 | 14652 |
| MTU Aero Engines AG | 60 | 24527 |
| Northrop Grumman Corp. | 20 | 11445 |
| QinetiQ Group PLC | 4496 | 24722 |
| Rheinmetall AG | 28 | 48101 |
| Rocket Lab Corp. <sup>(b)</sup> | 400 | 16856 |
| Rolls-Royce Holdings PLC <sup>(b)</sup> | 1400 | 19792 |
| RTX Corp. | 80 | 13993 |
| Saab AB – Class B | 1116 | 56219 |
| Safran SA | 52 | 17516 |
| Thales SA | 192 | 50216 |
|  |  | 761877 |
| **IT Services - 3.8%** | **IT Services - 3.8%** |  |
| Indra Sistemas SA | 620 | 33093 |
| **Machinery - 4.4%** | **Machinery - 4.4%** |  |
| RENK Group AG | 648 | 37934 |
| **Software - 2.0%** | **Software - 2.0%** |  |
| Palantir Technologies, Inc. - Class A <sup>(b)</sup> | 104 | 17519 |
| **TOTAL COMMON STOCKS** (Cost $1,003,711) | **TOTAL COMMON STOCKS** (Cost $1,003,711) | 850423 |
| **RIGHTS - 0.0%** | **Shares** | **Value**  |
| Avio SpA, Exercise Price $23.64 <sup>(b)(c)</sup> | 2740 | 0 |
| **TOTAL RIGHTS** (Cost $29,673) | **TOTAL RIGHTS** (Cost $29,673) | 0 |
| **SHORT-TERM INVESTMENTS**<br> ****  | **SHORT-TERM INVESTMENTS**<br> ****  | **SHORT-TERM INVESTMENTS**<br> ****  |
| **MONEY MARKET FUNDS - 1.8%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 3.91% <sup>(d)</sup> | 15243 | 15243 |
| **TOTAL MONEY MARKET FUNDS** (Cost $15,243) | **TOTAL MONEY MARKET FUNDS** (Cost $15,243) | 15243 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $1,048,627**)** | **TOTAL INVESTMENTS - 99.9% (**Cost $1,048,627**)** | 865666 |
| Other Assets in Excess of Liabilities - 0.1% | Other Assets in Excess of Liabilities - 0.1% | 578 |
| **TOTAL NET ASSETS - 100.0%** |  | $866244 |

---

---

| |
|:---|
| Percentages are stated as a percent of net assets. |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

PLC - Public Limited Company<br>

(a) To the extent that the Fund invests more heavily in 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) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or
 0.0% of net assets as of November 30, 2025.

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

------

#### Tema ETF Trust

#### Tema International Defense Innovation ETF
Notes to Quarterly Schedule of Investments

November 30, 2025 (Unaudited)

#### Investment Valuation
The Fund discloses the fair value of their investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Fund's (observable inputs) and (2) the Fund's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs).

The three levels defined by the hierarchy are as follows:

**• Level 1** — Quoted prices in active markets for identical assets that the Fund's have the ability to access.

**• Level 2** — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

**• Level 3** — Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Fund's investments as of November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets** | | | | |
| **Investments:** | | | | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $850423 | $– | $– | $850423 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Rights | – | – | 0 | 0 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 15243 | – | – | 15243 |
| **Total Investments** | $865666 | $– | $0 | $865666 |
| 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. |

---

Management has determined that the amount of Level 3 securities compared to total net assets is not material for the Tema International Defense Innovation ETF; therefore, the rollforward of Level 3 securities are not shown for the period ended November 30, 2025.

Significant unobservable valuation inputs monitored by the Adviser, the Valuation Designee pursuant to Rule 2a-5, under the supervision of the Board of Trustees for restricted securities or Level 3 investments as of November 30, 2025 for the Tema International Defense Innovation ETF are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Fair Value as of 11/30/2025** | **Valuation Technique** | **Unobservable Input** | **Input Values (Ranges)** |
| Avio Right<sup>\*</sup> | $0 | Other – Expired Instrument |  | N/A |

---

\* Rights received via corporate action were deemed to have expired unexercised and therefore were assigned no remaining economic value - valued at zero.

---

| |
|:---|
| **Allocation of Portfolio Holdings by Country as of November 30, 2025** |
| (% of Net Assets) |

---

---

| | | |
|:---|:---|:---|
| United Kingdom | $183558 | 21.3% |
| Germany | 154658 | 17.9 |
| United States | 153209 | 17.6 |
| France | 152132 | 17.5 |
| Italy | 60717 | 7.0 |
| Sweden | 56219 | 6.5 |
| Israel | 44978 | 5.2 |
| Spain | 33093 | 3.8 |
| Norway | 27102 | 3.1 |
| Other Assets in Excess of Liabilities | 578 | 0.1 |
|  | $**866244** | 100.0<br> **%** |

---

**Sector Classification as of November 30, 2025**<br> **(% of Net Assets)**<br>

---

| | | |
|:---|:---|:---|
| Industrials | $799811 | 92.3% |
| Information Technology | 50612 | 5.8 |
| Money Market Funds | 15243 | 1.8 |
| Other Assets in Excess of Liabilities | 578 | 0.1 |
|  | $**866244** | 100.0<br> **%** |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23823

- **c. CIK number of Registrant:** 0001944285

- **d. LEI of Registrant:** 549300JKGDXNE2CLUY37

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

  - **Street Address 1:** 200 Vesey Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10281

  - **Telephone number:** 3024994928 EXT 801

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

- **a. Name of Series:** Tema International Defense Innovation ETF

- **b. EDGAR series identifier (if any):** S000093386

- **c. LEI of Series:** 529900CE4BPAD9PYJH86

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**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:** $868234.52

**Total Liabilities:** $1986.01

**Net Assets:** $866248.51

**Cash Not Reported:** $2745.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261603 | 3.78%                | -8.28%               | -10.74%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $193275.38                                 |
| Month 2  | $-4.90                   | $-439043.11                                |
| Month 3  | $-519664.92              | $62808.48                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Boeing Co/The                  | Boeing Co/The                            | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |        52 | NS      | $9828.00      | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |     12503 | NS      | $12503.09     | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                      | Airbus SE                                | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |       144 | NS      | $34161.59     | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc               | Leonardo DRS Inc                         | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |       296 | NS      | $10114.32     | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                 | Rheinmetall AG                           | CUSIP: N/A<br>LEI: 5299001OU9CSE29O6S05       | Long             | EC               | CORP              | DE        |        28 | NS      | $48101.09     | 5.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG            | MTU Aero Engines AG                      | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               | CORP              | DE        |        60 | NS      | $24527.45     | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Rolls-Royce Holdings PLC       | Rolls-Royce Holdings PLC                 | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |      1400 | NS      | $19791.91     | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG                    | Hensoldt AG                              | CUSIP: N/A<br>LEI: 894500686FYLLZD3M624       | Long             | EC               | CORP              | DE        |       556 | NS      | $44096.26     | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp                    | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |        36 | NS      | $12298.68     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                       | RTX Corp                                 | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |        80 | NS      | $13992.80     | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Avon Technologies PLC          | Avon Technologies PLC                    | CUSIP: N/A<br>LEI: 213800JM1AN62REBWA71       | Long             | EC               | CORP              | GB        |       580 | NS      | $13926.88     | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                | BAE Systems PLC                          | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |      2008 | NS      | $43870.01     | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                      | Safran SA                                | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               | CORP              | FR        |        52 | NS      | $17516.16     | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Saab AB                        | Saab AB                                  | CUSIP: N/A<br>LEI: 549300ZHO4JCQQI13M69       | Long             | EC               | CORP              | SE        |      1116 | NS      | $56218.74     | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA                      | Thales SA                                | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |       192 | NS      | $50216.17     | 5.80%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |        52 | NS      | $14491.88     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                     | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |        32 | NS      | $14651.52     | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |       104 | NS      | $17518.80     | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RENK Group AG                  | RENK Group AG                            | CUSIP: N/A<br>LEI: 894500H8CNSZ53EI6K63       | Long             | EC               | CORP              | DE        |       648 | NS      | $37933.65     | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kongsberg Gruppen ASA          | Kongsberg Gruppen ASA                    | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |      1144 | NS      | $27101.61     | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Indra Sistemas SA              | Indra Sistemas SA                        | CUSIP: N/A<br>LEI: 95980020140005308793       | Long             | EC               | CORP              | ES        |       620 | NS      | $33093.14     | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd              | Elbit Systems Ltd                        | CUSIP: N/A<br>LEI: 529900Q9CB1REUMZSS32       | Long             | EC               | CORP              | IL        |        96 | NS      | $44978.44     | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemring Group PLC             | Chemring Group PLC                       | CUSIP: N/A<br>LEI: 213800U9A54VQJ5P2J41       | Long             | EC               | CORP              | GB        |      4380 | NS      | $27916.37     | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Avio SpA                       | Avio SpA                                 | CUSIP: N/A<br>LEI: 8156008F25C4B0E7C860       | Long             |  | CORP              | IT        |      2740 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Avio SpA                       | Avio SpA                                 | CUSIP: N/A<br>LEI: 8156008F25C4B0E7C860       | Long             | EC               | CORP              | IT        |       548 | NS      | $15864.98     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment Inc                        | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |        60 | NS      | $16767.60     | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp                | Rocket Lab Corp                          | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       400 | NS      | $16856.00     | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo SpA                   | Leonardo SpA                             | CUSIP: N/A<br>LEI: 529900X4EEX1U9LN3U39       | Long             | EC               | CORP              | IT        |       824 | NS      | $44851.93     | 5.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group PL | Babcock International Group PLC          | CUSIP: N/A<br>LEI: 213800TSKOLX4EU6L377       | Long             | EC               | CORP              | GB        |      3556 | NS      | $53331.06     | 6.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp          | Northrop Grumman Corp                    | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |        20 | NS      | $11445.00     | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC              | QinetiQ Group PLC                        | CUSIP: N/A<br>LEI: 213800S8OBDOZMCMUW34       | Long             | EC               | CORP              | GB        |      4496 | NS      | $24721.87     | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Aviation SA           | Dassault Aviation SA                     | CUSIP: N/A<br>LEI: 969500CVFTUT88V8QN95       | Long             | EC               | CORP              | FR        |       160 | NS      | $50238.45     | 5.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-21

**Name of Applicant:** Tema ETF Trust

**Signature:** /s/ Josh Hunter

**Name of Signer:** Josh Hunter

**Title:** Treasurer