Tema ETF Trust NPORT-P Tema Oncology ETF (Nov 2024 report)

Tema Oncology ETF
Schedule of Investments
November 30, 2024 (Unaudited)
COMMON STOCKS - 99.1%	Shares		Value
Biotechnology - 71.2%(a)
Agios Pharmaceuticals, Inc. (b)		23,474	$	1,394,121
Amgen, Inc.		2,444		691,334
Arcellx, Inc. (b)		8,805		775,456
Arcus Biosciences, Inc. (b)		20,278		313,092
Argenx SE - ADR (b)		3,385		2,087,022
BeiGene Ltd. - ADR (b)		5,705		1,226,575
Bicycle Therapeutics PLC - ADR (b)		17,854		364,222
BioNTech SE - ADR (b)		4,109		486,465
Blueprint Medicines Corp. (b)		21,957		2,116,216
Celldex Therapeutics, Inc. (b)		26,896		738,026
CG oncology, Inc. (b)		7,598		264,031
Cogent Biosciences, Inc. (b)		47,353		450,327
Corbus Pharmaceuticals Holdings, Inc. (b)		14,605		260,261
CRISPR Therapeutics AG (b)		23,591		1,207,151
Cullinan Therapeutics, Inc. (b)		25,934		348,812
Day One Biopharmaceuticals, Inc. (b)		63,787		888,553
Exact Sciences Corp. (b)		13,699		850,434
Exelixis, Inc. (b)		40,192		1,465,400
Genmab AS - ADR (b)		48,420		1,041,030
Gilead Sciences, Inc.		28,632		2,650,751
Ideaya Biosciences, Inc. (b)		14,655		400,961
Immunocore Holdings PLC - ADR (b)		10,208		334,210
Incyte Corp. (b)		27,709		2,066,814
Intellia Therapeutics, Inc. (b)		50,281		785,389
Janux Therapeutics, Inc. (b)		9,818		443,872
Jasper Therapeutics, Inc. (b)		11,347		258,825
Legend Biotech Corp. - ADR (b)		13,847		582,543
Mereo Biopharma Group PLC - ADR (b)		319,013		1,150,042
Merus NV (b)		13,216		592,605
Moderna, Inc. (b)		8,642		372,125
Nurix Therapeutics, Inc. (b)		20,585		455,134
Nuvalent, Inc. - Class A (b)		10,597		1,024,518
ORIC Pharmaceuticals, Inc. (b)		41,481		410,662
Regeneron Pharmaceuticals, Inc. (b)		3,515		2,637,023
Relay Therapeutics, Inc. (b)		58,960		277,112
Revolution Medicines, Inc. (b)		38,518		2,228,266
SpringWorks Therapeutics, Inc. (b)		28,108		1,165,920
				34,805,300
Health Care Equipment & Supplies - 2.5%
Lantheus Holdings, Inc. (b)		7,265		648,546
Siemens Healthineers AG (c)		10,835		587,607
				1,236,153
Health Care Providers & Services - 2.4%
Guardant Health, Inc. (b)		32,941		1,173,029
Health Care Technology - 1.6%
Schrodinger, Inc. (b)		34,005		767,493
Life Sciences Tools & Services - 3.8%
Illumina, Inc. (b)		12,998		1,873,662
Pharmaceuticals - 17.6%
Arvinas, Inc. (b)		8,911		238,102
AstraZeneca PLC		18,859		2,546,562
Chugai Pharmaceutical Co. Ltd.		37,136		1,637,692
Daiichi Sankyo Co. Ltd.		47,960		1,522,321
Merck & Co., Inc.		13,741		1,396,635
Novartis AG		9,360		990,984
Terns Pharmaceuticals, Inc. (b)		43,947		274,229
				8,606,525
TOTAL COMMON STOCKS (Cost $45,056,655)				48,462,162
SHORT-TERM INVESTMENTS - 0.9%		Shares		Value
Money Market Funds - 0.9%
First American Treasury Obligations Fund - Class X, 4.55% (d)		435,344		435,344
TOTAL SHORT-TERM INVESTMENTS (Cost $435,344)				435,344
TOTAL INVESTMENTS - 100.0% (Cost $45,491,999)				48,897,506
Liabilities in Excess of Other Assets - (0.0)% (e)				(4,648	)
TOTAL NET ASSETS - 100.0%			$	48,892,858
two				–	%
Percentages are stated as a percent of net assets.				–	%
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor’s 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.

ADR - American Depositary Receipt

AG - Aktiengesellschaft

AS - Aksjeselskap

NV - Naamloze Vennootschap

PLC - Public Limited Company

SE - Societas Europeae

(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 November 30, 2024, the value of these securities total $587,607 or 1.2% of the Fund’s net assets.
(d)	The rate shown represents the 7-day annualized effective yield as of November 30, 2024.
(e)	Represents less than 0.05% of net assets.

Tema ETF Trust
Tema Oncology ETF
Notes to Quarterly Schedule of Investments
November 30, 2024 (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, 2024:

	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	48,462,162	$	–	$	–	$	48,462,162
Money Market Funds		435,344		–		–		435,344
Total Investments	$	48,897,506	$	–	$	–	$	48,897,506
Refer to the Schedule of Investments for further disaggregation of investment categories.

Tema Oncology ETF invested, as a percentage of net assets, in the following countries and sectors as of November 30, 2024 (Unaudited):

Allocation of Portfolio Holdings by Country as of November 30, 2024
(% of Net Assets)
United States	$	34,349,593		70.2	%
United Kingdom		4,395,036		9.1
Japan		3,160,013		6.4
Netherlands		2,679,627		5.5
Switzerland		2,198,135		4.5
Germany		1,074,072		2.2
Denmark		1,041,030		2.1
Liabilities in Excess of Other Assets		(4,648	)	(0.0	)(a)
	$	48,892,858		100.0	%

Sector Classification as of November 30, 2024
(% of Net Assets)
Health Care	$	48,462,162		99.1	%
Money Market Funds		435,344		0.9
Liabilities in Excess of Other Assets		(4,648	)	(0.0	)(a)
	$	48,892,858		100.0	%

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