# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0001193125-26-247231
**Filing Date:** 2026-5
**Character Count:** 20384
**Document Hash:** 6d2cc73f384f8da25b115dfcd079c79b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-247231.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001193125-26-247231

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Series Solutions
- **CENTRAL INDEX KEY:** 0001540305

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1112

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22668
- **FILM NUMBER:** 261041318

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Defiance Retail Kings ETF (Series ID: S000096270)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000265098 | Defiance Retail Kings ETF | RKNG            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Defiance Retail Kings ETF** | **Defiance Retail Kings ETF** | **Defiance Retail Kings ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 99.8%** | **Shares**  | **Value**  |
| **Communication Services - 6.9%** | **Communication Services - 6.9%** | |
| Alphabet, Inc. - Class A | 810 | $232924 |
| AST SpaceMobile, Inc. <sup>(a)</sup> | 2865 | 237422 |
|  |  | 470346 |
| **Energy - 3.5%** | **Energy - 3.5%** |  |
| Energy Fuels, Inc. <sup>(a)</sup> | 13185 | 240626 |
| **Health Care - 2.9%** | **Health Care - 2.9%** |  |
| TransMedics Group, Inc. <sup>(a)</sup> | 2010 | 199814 |
| **Industrials - 16.7%** | **Industrials - 16.7%** |  |
| Bloom Energy Corp. - Class A <sup>(a)</sup> | 1590 | 215429 |
| Kratos Defense & Security Solutions, Inc. <sup>(a)</sup> | 2820 | 198838 |
| Rocket Lab Corp. <sup>(a)</sup> | 3615 | 232156 |
| Symbotic, Inc. <sup>(a)</sup> | 4980 | 264936 |
| Vertiv Holdings Co. - Class A | 945 | 236798 |
|  |  | 1148157 |
| **Information Technology - 57.2% <sup>(b)</sup>** | **Information Technology - 57.2% <sup>(b)</sup>** |  |
| Applied Digital Corp. <sup>(a)</sup> | 9105 | 216153 |
| Applied Optoelectronics, Inc. <sup>(a)</sup> | 2535 | 214436 |
| BitMine Immersion Technologies, Inc. | 12000 | 237360 |
| Credo Technology Group Holding Ltd. <sup>(a)</sup> | 2100 | 197127 |
| Fastly, Inc. - Class A <sup>(a)</sup> | 10035 | 291617 |
| IREN Ltd. <sup>(a)</sup> | 5940 | 203623 |
| Lam Research Corp. | 1155 | 246777 |
| Lumentum Holdings, Inc. <sup>(a)</sup> | 405 | 284618 |
| Micron Technology, Inc. | 585 | 197636 |
| Navitas Semiconductor Corp. <sup>(a)</sup> | 24390 | 213900 |
| Nebius Group NV <sup>(a)</sup> | 2190 | 227234 |
| Ondas, Inc. <sup>(a)</sup> | 24240 | 219130 |
| Rigetti Computing, Inc. <sup>(a)</sup> | 15240 | 213970 |
| Sandisk Corp. <sup>(a)</sup> | 360 | 228723 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 735 | 248393 |
| Terawulf, Inc. <sup>(a)</sup> | 16800 | 242424 |
| Western Digital Corp. | 900 | 243441 |
|  |  | 3926562 |
| **Materials - 6.2%** | **Materials - 6.2%** |  |
| Critical Metals Corp. <sup>(a)</sup> | 27225 | 216167 |
| MP Materials Corp. <sup>(a)</sup> | 4305 | 207759 |
|  |  | 423926 |
| **Real Estate - 3.4%** | **Real Estate - 3.4%** |  |
| Opendoor Technologies, Inc. <sup>(a)</sup> | 49770 | 232924 |
| **Utilities - 3.0%** | **Utilities - 3.0%** |  |
| Oklo, Inc. <sup>(a)</sup> | 4215 | 209022 |
| **TOTAL COMMON STOCKS** (Cost $8,075,238) | **TOTAL COMMON STOCKS** (Cost $8,075,238) | 6851377 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.3%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.58% <sup>(c)</sup> | 23774 | 23774 |
| **TOTAL MONEY MARKET FUNDS** (Cost $23,774) | **TOTAL MONEY MARKET FUNDS** (Cost $23,774) | 23774 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $8,099,012**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $8,099,012**)** | 6875151 |
| Liabilities in Excess of Other Assets - (0.1)% | Liabilities in Excess of Other Assets - (0.1)% | (4367) |
| **TOTAL NET ASSETS - 100.0%** |  | $6870784 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

(b) 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.

(c) The rate shown represents the 7-day annualized yield as of March 31, 2026.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Defiance Retail Kings ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $6851377 | $– | $– | $6851377 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 23774 | – | – | 23774 |
| Total Investments | $6875151 | $– | $– | $6875151 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ETF Series Solutions

- **b. Investment Company Act file number:** 811-22668

- **c. CIK number of Registrant:** 0001540305

- **d. LEI of Registrant:** 5493008BB0X0GYS3UI50

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 E Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1645

**Item A.2. Information about the Series.**

- **a. Name of Series:** Defiance Retail Kings ETF

- **b. EDGAR series identifier (if any):** S000096270

- **c. LEI of Series:** 5299002YX257XRPR9R76

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $6875738.88

**Total Liabilities:** $4955.21

**Net Assets:** $6870783.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000265098 | -8.37%               | -12.41%              | -8.61%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-843840.07                                |
| Month 2  | $0.00                    | $-1060511.62                               |
| Month 3  | $-1323295.11             | $680490.04                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Applied Optoelectronics Inc    | Applied Optoelectronics Inc                | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |      2535 | NS      | $214435.65    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solu | Kratos Defense & Security Solutions Inc    | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      2820 | NS      | $198838.20    | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Navitas Semiconductor Corp     | Navitas Semiconductor Corp                 | CUSIP: 63942X106<br>LEI: 529900T4K9WALWC76S49 | Long             | EC               | CORP              | US        |     24390 | NS      | $213900.30    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandisk Corp/DE                | Sandisk Corp/DE                            | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       360 | NS      | $228722.40    | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Symbotic Inc                   | Symbotic Inc                               | CUSIP: 87151X101<br>LEI: 529900UN9QT55OG9I235 | Long             | EC               | CORP              | US        |      4980 | NS      | $264936.00    | 3.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       735 | NS      | $248393.25    | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc          | TransMedics Group Inc                      | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      2010 | NS      | $199814.10    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |       945 | NS      | $236798.10    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp           | Western Digital Corp                       | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |       900 | NS      | $243441.00    | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Critical Metals Corp           | Critical Metals Corp                       | CUSIP: N/A<br>LEI: 984500158752F66VAE27       | Long             | EC               | CORP              | US        |     27225 | NS      | $216166.50    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebius Group NV                | Nebius Group NV                            | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |      2190 | NS      | $227234.40    | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo Inc                                   | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4215 | NS      | $209021.85    | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BitMine Immersion Technologies | BitMine Immersion Technologies Inc         | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |     12000 | NS      | $237360.00    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp                          | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |      1590 | NS      | $215429.10    | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/Canada        | Energy Fuels Inc/Canada                    | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | US        |     13185 | NS      | $240626.25    | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastly Inc                     | Fastly Inc                                 | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |     10035 | NS      | $291617.10    | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings Inc                      | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |       405 | NS      | $284617.80    | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp              | MP Materials Corp                          | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |      4305 | NS      | $207759.30    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ondas Inc                      | Ondas Inc                                  | CUSIP: 68236H204<br>LEI: 549300JWLHDUB82V8607 | Long             | EC               | CORP              | US        |     24240 | NS      | $219129.60    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                   | Terawulf Inc                               | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |     16800 | NS      | $242424.00    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding | Credo Technology Group Holding Ltd         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2100 | NS      | $197127.00    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |       810 | NS      | $232923.60    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IREN Ltd                       | IREN Ltd                                   | CUSIP: N/A<br>LEI: 254900FZF02RB3NNGB71       | Long             | EC               | CORP              | AU        |      5940 | NS      | $203623.20    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Opendoor Technologies Inc      | Opendoor Technologies Inc                  | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |     49770 | NS      | $232923.60    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology Inc                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       585 | NS      | $197636.40    | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc            | AST SpaceMobile Inc                        | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |      2865 | NS      | $237422.55    | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     23774 | NS      | $23774.48     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1155 | NS      | $246777.30    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigetti Computing Inc          | Rigetti Computing Inc                      | CUSIP: 76655K103<br>LEI: 52990024JHY459DH8W71 | Long             | EC               | CORP              | US        |     15240 | NS      | $213969.60    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp                | Rocket Lab Corp                            | CUSIP: 773121108<br>LEI: 254900LNRW7906KUMM93 | Long             | EC               | CORP              | US        |      3615 | NS      | $232155.30    | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp           | Applied Digital Corp                       | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |      9105 | NS      | $216152.70    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer