| Themes US Small Cap Cash Flow Champions ETF | ||||||||
| Schedule of Investments | ||||||||
| December 31, 2024 (Unaudited) | ||||||||
| COMMON STOCKS - 99.9% | Shares | Value | ||||||
| Banking - 17.9% | ||||||||
| Ameris Bancorp | 524 | $ | 32,787 | |||||
Axos Financial, Inc. (a) | 423 | 29,547 | ||||||
Bancorp, Inc. (a) | 389 | 20,473 | ||||||
| Bank OZK | 883 | 39,320 | ||||||
| East West Bancorp, Inc. | 1,135 | 108,688 | ||||||
| Eastern Bankshares, Inc. | 1,342 | 23,149 | ||||||
| First BanCorp Puerto Rico | 1,370 | 25,468 | ||||||
| First Horizon Corp. | 4,403 | 88,676 | ||||||
| Heartland Financial USA, Inc. | 315 | 19,311 | ||||||
| Hope Bancorp, Inc. | 927 | 11,393 | ||||||
| International Bancshares Corp. | 416 | 26,275 | ||||||
| Live Oak Bancshares, Inc. | 254 | 10,046 | ||||||
| S&T Bancorp, Inc. | 315 | 12,039 | ||||||
| TriCo Bancshares | 243 | 10,619 | ||||||
| Trustmark Corp. | 459 | 16,235 | ||||||
| WSFS Financial Corp. | 470 | 24,971 | ||||||
498,997 | ||||||||
| Consumer Discretionary Products - 3.8% | ||||||||
| Toll Brothers, Inc. | 838 | 105,546 | ||||||
| Consumer Discretionary Services - 0.4% | ||||||||
| Perdoceo Education Corp. | 459 | 12,150 | ||||||
| Consumer Staple Products - 1.2% | ||||||||
| Cal-Maine Foods, Inc. | 326 | 33,552 | ||||||
| Financial Services - 10.2% | ||||||||
| Artisan Partners Asset Management, Inc. - Class A | 488 | 21,008 | ||||||
| BGC Group, Inc. - Class A | 3,114 | 28,213 | ||||||
| Bread Financial Holdings, Inc. | 397 | 24,241 | ||||||
Enova International, Inc. (a) | 199 | 19,080 | ||||||
| Evercore, Inc. - Class A | 289 | 80,108 | ||||||
| MGIC Investment Corp. | 2,198 | 52,115 | ||||||
| Virtu Financial, Inc. - Class A | 684 | 24,405 | ||||||
| Virtus Investment Partners, Inc. | 47 | 10,367 | ||||||
| Walker & Dunlop, Inc. | 252 | 24,497 | ||||||
284,034 | ||||||||
| Health Care - 0.6% | ||||||||
Dynavax Technologies Corp. (a) | 1,019 | 13,012 | ||||||
Ironwood Pharmaceuticals, Inc. (a) | 1,081 | 4,789 | ||||||
17,801 | ||||||||
| Industrial Products - 2.6% | ||||||||
| Mueller Industries, Inc. | 918 | 72,852 | ||||||
| Industrial Services - 3.8% | ||||||||
| FLEX LNG Ltd. | 254 | 5,827 | ||||||
| Matson, Inc. | 262 | 35,328 | ||||||
| Scorpio Tankers, Inc. | 378 | 18,783 | ||||||
Sterling Infrastructure, Inc. (a) | 236 | 39,754 | ||||||
| Teekay Tankers Ltd. | 191 | 7,600 | ||||||
107,292 | ||||||||
| Insurance - 14.1% | ||||||||
| Axis Capital Holdings Ltd. | 615 | 54,501 | ||||||
| CNA Financial Corp. | 164 | 7,933 | ||||||
| Hanover Insurance Group, Inc. | 288 | 44,542 | ||||||
| Jackson Financial, Inc. - Class A | 567 | 49,374 | ||||||
| Mercury General Corp. | 216 | 14,360 | ||||||
NMI Holdings, Inc. - Class A (a) | 622 | 22,865 | ||||||
| Old Republic International Corp. | 2,045 | 74,009 | ||||||
| Reinsurance Group of America, Inc. | 532 | 113,651 | ||||||
SiriusPoint Ltd. (a) | 739 | 12,112 | ||||||
393,347 | ||||||||
| Materials - 11.9% | ||||||||
Alpha Metallurgical Resources, Inc. (a) | 82 | 16,410 | ||||||
| Arch Resources, Inc. | 137 | 19,347 | ||||||
| Boise Cascade Co. | 324 | 38,511 | ||||||
| CF Industries Holdings, Inc. | 1,477 | 126,018 | ||||||
| CONSOL Energy, Inc. | 225 | 24,003 | ||||||
| Peabody Energy Corp. | 1,018 | 21,317 | ||||||
| Ternium SA - ADR | 344 | 10,003 | ||||||
| UFP Industries, Inc. | 488 | 54,973 | ||||||
| Warrior Met Coal, Inc. | 406 | 22,021 | ||||||
332,603 | ||||||||
| Media - 0.6% | ||||||||
Magnite, Inc. (a) | 981 | 15,618 | ||||||
| Oil & Gas - 16.7% | ||||||||
Antero Resources Corp. (a) | 2,332 | 81,737 | ||||||
| APA Corp. | 2,880 | 66,499 | ||||||
| Civitas Resources, Inc. | 659 | 30,228 | ||||||
| CVR Energy, Inc. | 271 | 5,079 | ||||||
| Hess Midstream LP - Class A | 648 | 23,995 | ||||||
| HF Sinclair Corp. | 1,298 | 45,495 | ||||||
| Matador Resources Co. | 927 | 52,153 | ||||||
| Murphy Oil Corp. | 1,172 | 35,465 | ||||||
| PBF Energy, Inc. - Class A | 838 | 22,249 | ||||||
| Permian Resources Corp. | 3,700 | 53,206 | ||||||
| Sitio Royalties Corp. - Class A | 630 | 12,083 | ||||||
| SM Energy Co. | 954 | 36,977 | ||||||
465,166 | ||||||||
| Retail & Wholesale - Discretionary - 11.1% | ||||||||
Builders FirstSource, Inc. (a) | 757 | 108,198 | ||||||
| Dillard's, Inc. - Class A | 63 | 27,200 | ||||||
| Williams-Sonoma, Inc. | 947 | 175,365 | ||||||
310,763 | ||||||||
| Software & Technology Services - 0.6% | ||||||||
| Clear Secure, Inc. - Class A | 639 | 17,023 | ||||||
| Tech Hardware & Semiconductors - 4.4% | ||||||||
Flex Ltd. (a) | 3,223 | 123,731 | ||||||
TOTAL COMMON STOCKS (Cost $2,742,457) | 2,790,475 | |||||||
SHORT-TERM INVESTMENTS - 0.0%(b) | Value | |||||||
Money Market Funds - 0.0%(b) | Shares | |||||||
First American Treasury Obligations Fund - Class X, 4.40% (c) | 1,204 | 1,204 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,204) | 1,204 | |||||||
TOTAL INVESTMENTS - 99.9% (Cost $2,743,661) | 2,791,679 | |||||||
| Other Assets in Excess of Liabilities - 0.1% | 1,600 | |||||||
| TOTAL NET ASSETS - 100.0% | $ | 2,793,279 | ||||||
| two | – | % | ||||||
| Percentages are stated as a percent of net assets. | – | % | ||||||
| ADR - American Depositary Receipt |
| LP Limited Partnership |
| (a) | Non-income producing security. |
| (b) | Represents less than 0.05% of net assets. |
| (c) | The rate shown represents the 7-day annualized effective yield as of December 31, 2024. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: | ||||||||||||||||
| Common Stocks | $ | 2,790,475 | $ | – | $ | – | $ | 2,790,475 | ||||||||
| Money Market Funds | 1,204 | – | – | 1,204 | ||||||||||||
| Total Investments | $ | 2,791,679 | $ | – | $ | – | $ | 2,791,679 | ||||||||
| Refer to the Schedule of Investments for further disaggregation of investment categories. | ||||||||||||||||
