# EDGAR Filing Document

**Accession Number:** 0001976322
**File Stem:** 0000894189-26-005257
**Filing Date:** 2026-2
**Character Count:** 44726
**Document Hash:** f350bedecbac0445e936f4190a0f09f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-005257.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000894189-26-005257

**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:** 26680141

**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 US Infrastructure ETF (Series ID: S000085500)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000250783 | Themes US Infrastructure ETF | HWAY            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Themes US Infrastructure ETF** | **Themes US Infrastructure ETF** | **Themes US Infrastructure ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.4%** | **Shares** | **Value**  |
| **Consumer Discretionary Products - 0.6%** | **Consumer Discretionary Products - 0.6%** | |
| Cavco Industries, Inc. <sup>(a)</sup> | 8 | $4726 |
| Champion Homes, Inc. <sup>(a)</sup> | 66 | 5577 |
|  |  | 10303 |
| **Industrial Products - 34.5% <sup>(b)</sup>** | **Industrial Products - 34.5% <sup>(b)</sup>** |  |
| AGCO Corp. | 69 | 7198 |
| Astec Industries, Inc. | 27 | 1170 |
| Atkore, Inc. | 39 | 2467 |
| AZZ, Inc. | 37 | 3966 |
| Caterpillar, Inc. | 164 | 93951 |
| Crane Co. | 56 | 10328 |
| Deere & Co. | 178 | 82871 |
| Donaldson Co., Inc. | 134 | 11880 |
| Dover Corp. | 163 | 31824 |
| Emerson Electric Co. | 632 | 83879 |
| Enpro, Inc. | 25 | 5353 |
| Gibraltar Industries, Inc. <sup>(a)</sup> | 37 | 1829 |
| Graco, Inc. | 195 | 15984 |
| Greenbrier Cos., Inc. | 37 | 1729 |
| Helios Technologies, Inc. | 42 | 2247 |
| IDEX Corp. | 90 | 16015 |
| Insteel Industries, Inc. | 12 | 380 |
| Janus International Group, Inc. <sup>(a)</sup> | 175 | 1145 |
| Lindsay Corp. | 13 | 1532 |
| Modine Manufacturing Co. <sup>(a)</sup> | 55 | 7343 |
| Mueller Industries, Inc. | 126 | 14465 |
| Mueller Water Products, Inc. - Class A | 194 | 4621 |
| Oshkosh Corp. | 76 | 9548 |
| Parker-Hannifin Corp. | 109 | 95807 |
| SPX Technologies, Inc. <sup>(a)</sup> | 55 | 11003 |
| Terex Corp. | 76 | 4057 |
| Thermon Group Holdings, Inc. <sup>(a)</sup> | 18 | 669 |
| Trinity Industries, Inc. | 103 | 2723 |
| Valmont Industries, Inc. | 22 | 8851 |
| Vontier Corp. | 164 | 6098 |
| Watts Water Technologies, Inc. - Class A | 31 | 8557 |
| Westinghouse Air Brake Technologies Corp. | 205 | 43757 |
| Xylem, Inc. | 291 | 39628 |
| Zurn Elkay Water Solutions Corp. | 168 | 7810 |
|  |  | 640685 |
| **Industrial Services - 39.9% <sup>(b)</sup>** | **Industrial Services - 39.9% <sup>(b)</sup>** |  |
| AECOM | 154 | 14681 |
| API Group Corp. <sup>(a)</sup> | 364 | 13927 |
| Applied Industrial Technologies, Inc. | 44 | 11298 |
| Arcosa, Inc. | 57 | 6060 |
| Argan, Inc. | 15 | 4700 |
| Comfort Systems USA, Inc. | 42 | 39198 |
| Construction Partners, Inc. - Class A <sup>(a)</sup> | 57 | 6187 |
| CSX Corp. | 2251 | 81599 |
| DXP Enterprises, Inc./TX <sup>(a)</sup> | 15 | 1647 |
| Dycom Industries, Inc. <sup>(a)</sup> | 36 | 12164 |
| EMCOR Group, Inc. | 52 | 31813 |
| Fastenal Co. | 1386 | 55620 |
| Fluor Corp. <sup>(a)</sup> | 217 | 8600 |
| Granite Construction, Inc. | 55 | 6344 |
| Great Lakes Dredge & Dock Corp. <sup>(a)</sup> | 81 | 1063 |
| Herc Holdings, Inc. | 36 | 5342 |
| IES Holdings, Inc. <sup>(a)</sup> | 21 | 8169 |
| Jacobs Solutions, Inc. | 139 | 18412 |
| MSC Industrial Direct Co., Inc. - Class A | 55 | 4625 |
| MYR Group, Inc. <sup>(a)</sup> | 19 | 4152 |
| Norfolk Southern Corp. | 279 | 80553 |
| NPK International, Inc. <sup>(a)</sup> | 54 | 644 |
| Quanta Services, Inc. | 177 | 74705 |
| Ryder System, Inc. | 45 | 8613 |
| Sterling Infrastructure, Inc. <sup>(a)</sup> | 34 | 10412 |
| Tetra Tech, Inc. | 297 | 9961 |
| Tutor Perini Corp. | 55 | 3686 |
| Union Pacific Corp. | 357 | 82581 |
| United Rentals, Inc. | 78 | 63127 |
| Verra Mobility Corp. <sup>(a)</sup> | 189 | 4235 |
| WESCO International, Inc. | 55 | 13455 |
| WW Grainger, Inc. | 52 | 52471 |
|  |  | 740044 |
| **Materials - 22.7%** | **Materials - 22.7%** |  |
| Advanced Drainage Systems, Inc. | 76 | 11007 |
| Alcoa Corp. | 307 | 16314 |
| Apogee Enterprises, Inc. | 25 | 910 |
| ATI, Inc. <sup>(a)</sup> | 162 | 18591 |
| Boise Cascade Co. | 48 | 3533 |
| Carlisle Cos., Inc. | 50 | 15993 |
| Carpenter Technology Corp. | 58 | 18261 |
| Century Aluminum Co. <sup>(a)</sup> | 66 | 2586 |
| Cleveland-Cliffs, Inc. <sup>(a)</sup> | 601 | 7981 |
| Commercial Metals Co. | 126 | 8722 |
| CRH PLC | 703 | 87734 |
| Eagle Materials, Inc. | 42 | 8681 |
| Kaiser Aluminum Corp. | 19 | 2182 |
| Knife River Corp. <sup>(a)</sup> | 67 | 4713 |
| Martin Marietta Materials, Inc. | 72 | 44832 |
| Nucor Corp. | 273 | 44529 |
| Owens Corning | 97 | 10855 |
| Reliance, Inc. | 62 | 17910 |
| Ryerson Holding Corp. | 32 | 805 |
| Simpson Manufacturing Co., Inc. | 50 | 8073 |
| Steel Dynamics, Inc. | 166 | 28129 |
| Trex Co., Inc. <sup>(a)</sup> | 135 | 4736 |
| UFP Industries, Inc. | 68 | 6191 |
| United States Lime & Minerals, Inc. | 13 | 1557 |
| Vulcan Materials Co. | 157 | 44780 |
| Worthington Steel, Inc. | 42 | 1454 |
|  |  | 421059 |
| **Oil & Gas - 0.2%** | **Oil & Gas - 0.2%** |  |
| DNOW, Inc. <sup>(a)</sup> | 237 | 3140 |
| **Renewable Energy - 0.0% <sup>(c)</sup>** | **Renewable Energy - 0.0% <sup>(c)</sup>** |  |
| ASP Isotopes, Inc. <sup>(a)</sup> | 48 | 257 |
| **Retail & Wholesale - Discretionary - 1.2%** | **Retail & Wholesale - Discretionary - 1.2%** |  |
| Builders FirstSource, Inc. <sup>(a)</sup> | 127 | 13067 |
| Pool Corp. | 44 | 10065 |
|  |  | 23132 |
| **Utilities - 0.3%** | **Utilities - 0.3%** |  |
| Southwest Gas Holdings, Inc. | 68 | 5441 |
| **TOTAL COMMON STOCKS** (Cost $1,738,415) | **TOTAL COMMON STOCKS** (Cost $1,738,415) | 1844061 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.6%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 3.68% <sup>(d)</sup> | 11490 | 11490 |
| **TOTAL MONEY MARKET FUNDS** (Cost $11,490) | **TOTAL MONEY MARKET FUNDS** (Cost $11,490) | 11490 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $1,749,905**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $1,749,905**)** | 1855551 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | 165 |
| **TOTAL NET ASSETS - 100.0%** |  | $1855716 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

PLC - Public Limited Company<br>

(a) Non-income producing security.

(b) 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.

(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 US Infrastructure 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 | $1844061 | $– | $– | $1844061 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 11490 | – | – | 11490 |
| Total Investments | $1855551 | $– | $– | $1855551 |
| 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 US Infrastructure ETF

- **b. EDGAR series identifier (if any):** S000085500

- **c. LEI of Series:** 529900XYF9WDLQ3FZZ07

**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:** $1856128.06

**Total Liabilities:** $412.43

**Net Assets:** $1855715.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000250783 | 1.86%                | 0.53%                | -0.28%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $28823.82                                  |
| Month 2  | $-1314.62                | $7741.32                                   |
| Month 3  | $64668.13                | $-83889.70                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ASP Isotopes Inc               | ASP Isotopes Inc                         | CUSIP: 00218A105<br>LEI: 6488WHV94BZ496OZ3219 | Long             | EC               | CORP              | US        |        48 | NS      | $256.80       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                     | Alcoa Corp                               | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |       307 | NS      | $16313.98     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises Inc         | Apogee Enterprises Inc                   | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |        25 | NS      | $910.25       | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies Inc           | SPX Technologies Inc                     | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |        55 | NS      | $11003.30     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure Inc              | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |        34 | NS      | $10411.82     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries Inc         | Trinity Industries Inc                   | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |       103 | NS      | $2723.32      | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries Inc                       | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |        68 | NS      | $6191.40      | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Lime & Minerals  | United States Lime & Minerals Inc        | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |        13 | NS      | $1556.62      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp            | Verra Mobility Corp                      | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |       189 | NS      | $4235.49      | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc        | WESCO International Inc                  | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |        55 | NS      | $13455.20     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Technologies Inc        | Helios Technologies Inc                  | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |        42 | NS      | $2246.58      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp           | Kaiser Aluminum Corp                     | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        19 | NS      | $2182.34      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc  | Advanced Drainage Systems Inc            | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |        76 | NS      | $11007.08     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                          | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       164 | NS      | $93950.68     | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleveland-Cliffs Inc           | Cleveland-Cliffs Inc                     | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |       601 | NS      | $7981.28      | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc        | Comfort Systems USA Inc                  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |        42 | NS      | $39198.18     | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                      | Argan Inc                                | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |        15 | NS      | $4699.80      | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Astec Industries Inc           | Astec Industries Inc                     | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |        27 | NS      | $1169.64      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                       | Crane Co                                 | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |        56 | NS      | $10328.08     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                     | Deere & Co                               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       178 | NS      | $82871.46     | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                     | Dover Corp                               | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |       163 | NS      | $31824.12     | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corp                     | Fluor Corp                               | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |       217 | NS      | $8599.71      | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc   | MSC Industrial Direct Co Inc             | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |        55 | NS      | $4625.50      | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc            | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |        72 | NS      | $44831.52     | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co        | Modine Manufacturing Co                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |        55 | NS      | $7343.05      | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                       | DNOW Inc                                 | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |       237 | NS      | $3140.25      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindsay Corp                   | Lindsay Corp                             | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |        13 | NS      | $1532.31      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                  | MYR Group Inc                            | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |        19 | NS      | $4151.50      | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc         | Mueller Industries Inc                   | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |       126 | NS      | $14464.80     | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International Inc          | NPK International Inc                    | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |        54 | NS      | $643.68       | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp          | Norfolk Southern Corp                    | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       279 | NS      | $80552.88     | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryder System Inc               | Ryder System Inc                         | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |        45 | NS      | $8612.55      | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corp           | Ryerson Holding Corp                     | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |        32 | NS      | $805.12       | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                    | Trex Co Inc                              | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       135 | NS      | $4735.80      | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                       | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       357 | NS      | $82581.24     | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                   | Vontier Corp                             | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |       164 | NS      | $6097.52      | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co            | Vulcan Materials Co                      | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       157 | NS      | $44779.54     | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc   | Watts Water Technologies Inc             | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |        31 | NS      | $8556.62      | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Worthington Steel Inc          | Worthington Steel Inc                    | CUSIP: 982104101<br>LEI: 2549009ZUUWL3QLK6G24 | Long             | EC               | CORP              | US        |        42 | NS      | $1454.04      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                     | Arcosa Inc                               | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |        57 | NS      | $6060.24      | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |        50 | NS      | $15993.00     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc     | Southwest Gas Holdings Inc               | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |        68 | NS      | $5441.36      | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermon Group Holdings Inc     | Thermon Group Holdings Inc               | CUSIP: 88362T103<br>LEI: 529900ZNZBBLDE77MZ38 | Long             | EC               | CORP              | US        |        18 | NS      | $668.88       | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |       205 | NS      | $43757.25     | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                 | API Group Corp                           | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |       364 | NS      | $13926.64     | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource Inc                 | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       127 | NS      | $13067.03     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp      | Carpenter Technology Corp                | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |        58 | NS      | $18260.72     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                     | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         8 | NS      | $4725.92      | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc      | Construction Partners Inc                | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |        57 | NS      | $6187.35      | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                      | Enpro Inc                                | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |        25 | NS      | $5353.25      | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc  | Janus International Group Inc            | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       175 | NS      | $1144.50      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corp              | Tutor Perini Corp                        | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |        55 | NS      | $3686.10      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries Inc                   | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |        22 | NS      | $8851.04      | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                          | AECOM                                    | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |       154 | NS      | $14680.82     | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc      | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |        44 | NS      | $11297.88     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                      | AGCO Corp                                | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |        69 | NS      | $7198.08      | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp                                 | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      2251 | NS      | $81598.75     | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co           | Commercial Metals Co                     | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |       126 | NS      | $8721.72      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises Inc/TX         | DXP Enterprises Inc/TX                   | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        15 | NS      | $1646.85      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                              | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      1386 | NS      | $55620.18     | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Lakes Dredge & Dock Corp | Great Lakes Dredge & Dock Corp           | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               | CORP              | US        |        81 | NS      | $1062.72      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenbrier Cos Inc/The         | Greenbrier Cos Inc/The                   | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |        37 | NS      | $1729.38      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc               | IES Holdings Inc                         | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |        21 | NS      | $8169.42      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                   | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |        12 | NS      | $380.04       | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                            | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |        97 | NS      | $10855.27     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                             | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |        62 | NS      | $17909.94     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc             | Champion Homes Inc                       | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        66 | NS      | $5577.00      | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech Inc                           | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |       297 | NS      | $9961.38      | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                        | ATI Inc                                  | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |       162 | NS      | $18591.12     | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                     | Atkore Inc                               | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |        39 | NS      | $2466.75      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co               | Boise Cascade Co                         | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |        48 | NS      | $3532.80      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc       | Gibraltar Industries Inc                 | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        37 | NS      | $1829.28      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                | WW Grainger Inc                          | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |        52 | NS      | $52470.60     | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp           | Parker-Hannifin Corp                     | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       109 | NS      | $95806.64     | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp                                | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |        44 | NS      | $10065.00     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc             | Steel Dynamics Inc                       | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |       166 | NS      | $28128.70     | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                       | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |        78 | NS      | $63126.96     | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Cor | Zurn Elkay Water Solutions Corp          | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |       168 | NS      | $7810.32      | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                                  | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |       703 | NS      | $87734.40     | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |        36 | NS      | $12164.40     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                          | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |        52 | NS      | $31813.08     | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |     11490 | NS      | $11490.41     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc              | Herc Holdings Inc                        | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |        36 | NS      | $5341.68      | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                      | IDEX Corp                                | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |        90 | NS      | $16014.60     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc               | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |       194 | NS      | $4621.08      | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                     | Nucor Corp                               | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       273 | NS      | $44529.03     | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corp                   | Oshkosh Corp                             | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |        76 | NS      | $9547.88      | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc            | Quanta Services Inc                      | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       177 | NS      | $74704.62     | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co Inc             | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |        50 | NS      | $8073.50      | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                   | Xylem Inc/NY                             | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |       291 | NS      | $39628.38     | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc               | Donaldson Co Inc                         | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |       134 | NS      | $11880.44     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials Inc                      | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |        42 | NS      | $8680.56      | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                      | Graco Inc                                | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |       195 | NS      | $15984.15     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Terex Corp                     | Terex Corp                               | CUSIP: 880779103<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | EC               | CORP              | US        |        76 | NS      | $4056.88      | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                        | AZZ Inc                                  | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |        37 | NS      | $3965.66      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Aluminum Co            | Century Aluminum Co                      | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |        66 | NS      | $2585.88      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                      | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |       632 | NS      | $83879.04     | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc       | Granite Construction Inc                 | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |        55 | NS      | $6344.25      | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc           | Jacobs Solutions Inc                     | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |       139 | NS      | $18411.94     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp               | Knife River Corp                         | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        67 | NS      | $4713.45      | 0.25%             |  |  |  | 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