Nicholas Defense and Rare Earth Income ETF Holdings

WEPNETF · NYSE American

$40.78

+$0.06 (+0.14%)

EOD Oct 29, 2026

WEPN holds 29 stocks and 50 other positions (derivatives, cash and equivalents). The largest is Palo Alto Networks, Inc. at 9.96%, and the ten largest make up 57.4% of assets. Holdings as of Jul 31, 2026.

Quality of what it owns

Stock weight by each holding's Quality score

Dividend strength of what it owns

Stock weight by each holding's Dividend score: five years of payments, payout ratio, growth

All 29 stocks

Weight as a share of the fund's assets, Jul 31, 2026

WEPN holdings by weight
#	Company	Sector
1	Palo Alto Networks, Inc.PANW	Technology	9.96%	n/a	61	0
2	CrowdStrike Holdings, Inc.CRWD	Technology	8.97%	n/a	65	0
3	Invesco Db Base Metals FundDBB	Financials	7.15%	n/a	16	20
4	Space Exploration Technologies Corp.SPCX	Industrials	6.32%	n/a	35	0
5	Vaneck Steel EtfSLX		4.75%	n/a	n/a	n/a
6	RTX CorporationRTX	Consumer Discretionary	4.58%	1.42%	68	60
7	Axon Enterprise, Inc.AXON	Industrials	4.17%	n/a	25	0
8	Lockheed Martin CorporationLMT	Consumer Discretionary	3.86%	2.33%	67	80
9	Palantir Technologies Inc.PLTR	Technology	3.84%	n/a	75	0
10	abrdn Platinum ETF TrustPPLT	Financials	3.79%	n/a	54	0
11	United States Commodity Index Funds TrustCPER	Financials	3.71%	n/a	25	0
12	Caci International Inc.CACI	Technology	3.59%	n/a	73	0
13	Bwx Technologies Inc.BWXT	Industrials	3.51%	0.88%	51	54
14	AeroVironment Inc.AVAV	Consumer Discretionary	3.38%	n/a	30	0
15	Ondas Holdings Inc.ONDS	Technology	3.27%	n/a	40	0
16	Huntington Ingalls Industries Inc.HII	Consumer Discretionary	3.26%	1.81%	44	72
17	Northrop Grumman CorporationNOC	Industrials	3.20%	1.83%	72	81
18	Global X Lithium & Battery Tech EtfLIT		3.12%	n/a	n/a	n/a
19	Global X Uranium EtfURA		2.37%	n/a	n/a	n/a
20	Kratos Defense & Security Solutions, Inc.KTOS	Consumer Discretionary	2.35%	n/a	43	0
21	Sociedad Química y Minera de Chile S.A. ADRSQM	Materials	2.01%	1.79%	21	38
22	USA Rare Earth, Inc.USAR	Materials	1.63%	n/a	10	0
23	Alcoa CorporationAA	Materials	1.61%	0.99%	55	64
24	Albemarle CorporationALB	Materials	1.50%	1.71%	43	57
25	MP Materials Corp.MP	Materials	1.48%	n/a	20	0

1-25 of 29

rows

Other positions (50)

Part of the fund's official holdings list, but not companies: cash, money market funds, futures and the like.

WEPN positions other than stocks
Position	Type	Weight
N/A	Derivative	0.65%
N/A	Derivative	0.18%
N/A	Derivative	0.17%
N/A	Derivative	0.14%
N/A	Derivative	0.13%
N/A	Derivative	0.13%
N/A	Derivative	0.10%
N/A	Derivative	0.07%
N/A	Derivative	0.06%
N/A	Derivative	0.05%
N/A	Derivative	0.04%
N/A	Derivative	0.04%
N/A	Derivative	0.04%
N/A	Derivative	0.03%
N/A	Derivative	0.03%
N/A	Derivative	0.03%
N/A	Derivative	0.03%
N/A	Derivative	0.03%
First American Government Obli	Cash and equivalents	0.03%
N/A	Derivative	0.02%
N/A	Derivative	0.01%
N/A	Derivative	0.01%
N/A	Derivative	0.01%
N/A	Derivative	0.00%
N/A	Derivative	0.00%

And 25 more.

Concentration

How much of the fund sits in its largest stocks

WEPN holdings questions

How many stocks does WEPN hold?+

29 stocks as of Jul 31, 2026, plus 50 cash or money-market lines worth -1.63% of assets.

What is WEPN's largest holding?+

Palo Alto Networks, Inc. (PANW) at 9.96% of the fund. The ten largest positions add up to 57.4%.

Which sectors does WEPN invest in most?+

Technology (29.6%), Consumer Discretionary (17.4%), Industrials (17.2%).

How often does WEPN change its holdings?+

In its last fiscal year the fund's turnover was 86%. Weights move every day with prices, so this list shows the weights on Jul 31, 2026.

More on WEPN: Overview · Dividend history

Holdings: the fund's SEC Form N-PORT for Jul 31, 2026. SEC filings come out about two months after the quarter, so recent changes may be missing. Quality and Dividend scores and yields: computed by Intrinsiqq from each company's SEC filings and today's price.