Tema ETF Trust NPORT-P Tema Neuroscience and Mental Health ETF (Nov 2024 report)

Tema Neuroscience and Mental Health ETF
Schedule of Investments
November 30, 2024 (Unaudited)
COMMON STOCKS - 99.1%	Shares		Value
Biotechnology - 62.7%(a)
ACADIA Pharmaceuticals, Inc. (b)		10,596	$	172,927
Alector, Inc. (b)		14,344		37,151
Alkermes PLC (b)		5,940		172,379
Alnylam Pharmaceuticals, Inc. (b)		1,982		501,585
Argenx SE - ADR (b)		890		548,729
Avidity Biosciences, Inc. (b)		5,392		232,018
Biogen, Inc. (b)		2,501		401,736
Biohaven Ltd. (b)		3,831		176,264
Catalyst Pharmaceuticals, Inc. (b)		11,352		250,539
Crinetics Pharmaceuticals, Inc. (b)		7,788		445,473
Day One Biopharmaceuticals, Inc. (b)		15,820		220,373
Denali Therapeutics, Inc. (b)		8,937		223,425
Dyne Therapeutics, Inc. (b)		4,717		144,387
Immunovant, Inc. (b)		5,866		165,421
Intellia Therapeutics, Inc. (b)		11,044		172,507
Ionis Pharmaceuticals, Inc. (b)		8,318		297,202
Neurocrine Biosciences, Inc. (b)		3,846		487,480
Prothena Corp. PLC (b)		7,018		113,762
PTC Therapeutics, Inc. (b)		3,124		137,081
Regeneron Pharmaceuticals, Inc. (b)		651		488,393
Sarepta Therapeutics, Inc. (b)		1,943		259,080
Scholar Rock Holding Corp. (b)		4,836		192,956
Solid Biosciences, Inc. (b)		8,649		49,299
Vertex Pharmaceuticals, Inc. (b)		2,052		960,603
Voyager Therapeutics, Inc. (b)		14,960		102,626
Xenon Pharmaceuticals, Inc. (b)		6,111		260,512
				7,213,908
Health Care Equipment & Supplies - 11.7%
Dexcom, Inc. (b)		2,863		223,285
Medtronic PLC		3,879		335,689
Penumbra, Inc. (b)		617		150,622
Siemens Healthineers AG (c)		2,495		135,309
Stryker Corp.		938		367,837
Sysmex Corp.		6,108		129,170
				1,341,912
Health Care Providers & Services - 2.7%
Acadia Healthcare Co., Inc. (b)		2,596		105,475
Option Care Health, Inc. (b)		4,975		118,405
Talkspace, Inc. (b)		26,337		90,073
				313,953
Life Sciences Tools & Services - 0.5%
Quanterix Corp. (b)		4,424		54,548
Pharmaceuticals - 21.5%
Arvinas, Inc. (b)		2,074		55,417
Axsome Therapeutics, Inc. (b)		2,327		228,558
Eisai Co. Ltd.		2,036		63,551
Eli Lilly & Co.		705		560,722
Intra-Cellular Therapies, Inc. (b)		3,388		290,182
Jazz Pharmaceuticals PLC (b)		1,672		203,299
Orion Oyj - Class B		1,440		68,051
Rapport Therapeutics, Inc. (b)		5,241		119,705
Teva Pharmaceutical Industries Ltd. - ADR (b)		25,662		430,608
UCB SA		2,310		452,455
				2,472,548
TOTAL COMMON STOCKS (Cost $11,129,020)				11,396,869
SHORT-TERM INVESTMENTS - 0.9%		Shares		Value
Money Market Funds - 0.9%
First American Treasury Obligations Fund - Class X, 4.55% (d)		102,681		102,681
TOTAL SHORT-TERM INVESTMENTS (Cost $102,681)				102,681
TOTAL INVESTMENTS - 100.0% (Cost $11,231,701)				11,499,550
Other Assets in Excess of Liabilities - 0.0% (e)				5,358
TOTAL NET ASSETS - 100.0%			$	11,504,908
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

OYJ - Julkinen Asakeyhtio

PLC - Public Limited Company

SA - Sociedad Anónima

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 $135,309 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 Neuroscience and Mental Health 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	$	11,396,869	$	–	$	–	$	11,396,869
Money Market Funds		102,681		–		–		102,681
Total Investments	$	11,499,550	$	–	$	–	$	11,499,550
Refer to the Schedule of Investments for further disaggregation of investment categories.

Tema Neuroscience and Mental Health 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	$	8,789,335	76.4	%
Ireland		621,830	5.4
Netherlands		548,729	4.8
Belgium		452,455	3.9
Israel		430,608	3.7
Canada		260,512	2.3
Japan		192,721	1.7
Germany		135,309	1.2
Finland		68,051	0.6
Other Assets in Excess of Liabilities		5,358	0.0	(a)
	$	11,504,908	100.0	%

Sector Classification as of November 30, 2024
(% of Net Assets)
Health Care	$	11,396,869	99.1	%
Money Market Funds		102,681	0.9
Other Assets in Excess of Liabilities		5,358	0.0	(a)
	$	11,504,908	100.0	%

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