| Tema ETF Trust | ||||||||
| Tema Monopolies and Oligopolies ETF | ||||||||
| Schedule of Investments | ||||||||
May 31, 2023 (Unaudited) | ||||||||
| Investments | Number of Shares | Value | ||||||
| COMMON STOCKS - 97.7% | ||||||||
| Aerospace & Defense - 9.8% | ||||||||
| Airbus SE^ | 1,302 | $ | 170,540 | |||||
| Safran S.A.^ | 1,148 | 166,198 | ||||||
| 336,738 | ||||||||
| Capital Markets - 19.2% | ||||||||
| CME Group, Inc. | 560 | 100,100 | ||||||
| Intercontinental Exchange, Inc. | 1,302 | 137,947 | ||||||
| Moody's Corp. | 560 | 177,453 | ||||||
| MSCI, Inc. | 140 | 65,874 | ||||||
| S&P Global, Inc. | 490 | 180,041 | ||||||
| 661,415 | ||||||||
| Chemicals - 3.0% | ||||||||
| Sherwin-Williams Co. (The) | 448 | 102,045 | ||||||
| Commercial Services & Supplies - 3.3% | ||||||||
| Copart, Inc.* | 1,316 | 115,268 | ||||||
| Construction & Engineering - 7.7% | ||||||||
| Ferrovial S.A.^ | 3,276 | 101,375 | ||||||
| Vinci S.A.^ | 1,442 | 163,877 | ||||||
| 265,252 | ||||||||
| Construction Materials - 3.0% | ||||||||
| Vulcan Materials Co. | 532 | 104,006 | ||||||
| Diversified Telecommunication Services - 2.9% | ||||||||
| Cellnex Telecom S.A.^ | 2,506 | 101,548 | ||||||
| Financial Services - 4.8% | ||||||||
| Visa, Inc., Class A | 742 | 164,004 | ||||||
| Ground Transportation - 9.5% | ||||||||
| Canadian National Railway Co. - ADR^ | 1,442 | 162,557 | ||||||
| Canadian Pacific Kansas City Ltd. - ADR^ | 2,156 | 164,287 | ||||||
| 326,844 | ||||||||
| Health Care Equipment & Supplies - 7.4% | ||||||||
| Alcon, Inc.^ | 938 | 72,774 | ||||||
| Carl Zeiss Meditec AG^ | 518 | 58,055 | ||||||
| Coloplast A/S, Class B ^ | 476 | 59,921 | ||||||
| IDEXX Laboratories, Inc.* | 140 | 65,068 | ||||||
| 255,818 | ||||||||
| Life Sciences Tools & Services - 1.9% | ||||||||
| Thermo Fisher Scientific, Inc. | 126 | 64,066 | ||||||
| Machinery - 3.8% | ||||||||
| Knorr-Bremse AG^ | 980 | 67,021 | ||||||
| Otis Worldwide Corp. | 812 | 64,562 | ||||||
| 131,583 | ||||||||
| Pharmaceuticals - 3.8% | ||||||||
| Merck & Co., Inc. | 588 | 64,921 | ||||||
| Novo Nordisk A/S, Class B ^ | 406 | 65,050 | ||||||
| 129,971 | ||||||||
| Professional Services - 4.1% | ||||||||
| Equifax, Inc. | 336 | 70,096 | ||||||
| RELX plc^ | 2,268 | 70,814 | ||||||
| 140,910 | ||||||||
| Semiconductors & Semiconductor Equipment - 5.5% | ||||||||
| ASML Holding N.V.^ | 154 | 110,536 | ||||||
| Lam Research Corp. | 126 | 77,704 | ||||||
| 188,240 | ||||||||
| Software - 6.1% | ||||||||
| Fair Isaac Corp.* | 140 | 110,274 | ||||||
| Intuit, Inc. | 238 | 99,751 | ||||||
| 210,025 | ||||||||
| Transportation Infrastructure - 1.9% | ||||||||
| Aena SME S.A.*^ | 422 | 65,947 | ||||||
| TOTAL COMMON STOCKS (Cost $3,433,389) | 3,363,680 | |||||||
| SHORT-TERM INVESTMENTS — 2.2% | ||||||||
| Money Market Fund | ||||||||
| First American Treasury Obligations Fund - Class X, 5.016% (a) | 75,241 | 75,241 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $75,241) | 75,241 | |||||||
| TOTAL INVESTMENTS (Cost $3,508,630) - 99.9% | 3,438,921 | |||||||
| OTHER ASSETS LESS LIABILITIES - 0.1% | 2,340 | |||||||
| NET ASSETS - 100.0% | $ | 3,441,261 | ||||||
| * Non-income producing security. | ||||
| ^ Foreign security. | ||||
| (a) 7-day net yield. | ||||
| ADR - American Depositary Receipt | ||||
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | ||||
| Tema Monopolies and Oligopolies ETF invested, as a percentage of net assets, in the following countries as of May 31, 2023: | ||
| United States | 51.2% | |
| France | 9.6% | |
| Canada | 9.5% | |
| Netherlands | 8.2% | |
| Spain | 7.8% | |
| Germany | 3.6% | |
| Denmark | 3.6% | |
| Switzerland | 2.1% | |
| United Kingdom | 2.1% | |
Other(1) | 2.3% | |
| 100.0% | ||
(1) Includes cash and net other assets (liabilities). | ||
| Tema ETF Trust | ||||||||
| Tema Monopolies and Oligopolies ETF | ||||||||
| Notes to Quarterly Schedule of Investments | ||||||||
| May 31, 2023 (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 May 31, 2023: | ||||||||
| Tema Monopolies and Oligopolies ETF | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Investments | ||||||||||||||||
| Common Stocks * | $ | 3,363,680 | $ | - | $ | - | $ | 3,363,680 | ||||||||
| Money Market Fund | 75,241 | - | - | 75,241 | ||||||||||||
| Total Investments | $ | 3,438,921 | $ | - | $ | - | $ | 3,438,921 | ||||||||
| * See Schedule of Investments for segregation by industry type. | ||||||||||||||||
