# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-012888
**Filing Date:** 2025-10
**Character Count:** 36243
**Document Hash:** f52f83eb417d4be4dfff87714f280731
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-012888.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0000894189-25-012888

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20260228

**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:** 251432966

**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

### Hoya Capital High Dividend Yield ETF (Series ID: S000073033)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000229810 | Hoya Capital High Dividend Yield ETF | RIET            |

## 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:** Hoya Capital High Dividend Yield ETF

- **b. EDGAR series identifier (if any):** S000073033

- **c. LEI of Series:** 549300J6T1FHX4RHKS53

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-08-31

**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:** $94687383.40

**Total Liabilities:** $529591.03

**Net Assets:** $94157792.37

**Cash Not Reported:** $483506.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229810 | 2.42%                | -0.38%               | 6.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2201657.11             | $3120093.54                                |
| Month 2  | $115236.55               | $-852586.81                                |
| Month 3  | $192922.92               | $5390969.63                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Advanced Flower Capital Inc    | Advanced Flower Capital Inc                | CUSIP: 00109K105<br>LEI: 5493005G0MGS3E0E7218 | Long             | EC               | CORP              | US        |    218793 | NS      | $1019575.38   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| City Office REIT Inc           | City Office REIT Inc                       | CUSIP: 178587101<br>LEI: 5493003J7157VP25NL57 | Long             | EC               | CORP              | CA        |    217870 | NS      | $1509839.10   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Real Estate Finance Trust  | KKR Real Estate Finance Trust Inc          | CUSIP: 48251K100<br>LEI: 549300K23AYZDZ2REL62 | Long             | EC               | CORP              | US        |    115127 | NS      | $1108673.01   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial Inc              | MFA Financial Inc                          | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |    110569 | NS      | $1127803.80   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc             | Outfront Media Inc                         | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |     65778 | NS      | $1228733.04   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust              | RLJ Lodging Trust                          | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145044 | NS      | $1116838.80   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP           | Two Harbors Investment Corp                | CUSIP: 90187B507<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |     11915 | NS      | $285006.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp             | Kilroy Realty Corp                         | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     41282 | NS      | $1716918.38   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc     | One Liberty Properties Inc                 | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |     43926 | NS      | $1049392.14   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc      | Park Hotels & Resorts Inc                  | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    101544 | NS      | $1194157.44   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp           | AGNC Investment Corp                       | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |    146027 | NS      | $1425223.52   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP           | AGNC Investment Corp                       | CUSIP: 00123Q500<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     11186 | NS      | $285466.72    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate  | Apollo Commercial Real Estate Finance Inc  | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |    107238 | NS      | $1135650.42   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust Inc         | Arbor Realty Trust Inc                     | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |    108935 | NS      | $1300683.90   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynex Capital Inc              | Dynex Capital Inc                          | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |     87147 | NS      | $1099795.14   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC           | Global Net Lease Inc                       | CUSIP: 379378508<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     12553 | NS      | $300393.29    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GRANITE POINT MTGE TRST        | Granite Point Mortgage Trust Inc           | CUSIP: 38741L305<br>LEI: 529900VX2HQZ76AYIE02 | Long             | EP               | CORP              | US        |     15402 | NS      | $310812.36    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc      | Healthpeak Properties Inc                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     76655 | NS      | $1375190.70   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE       | Hudson Pacific Properties Inc              | CUSIP: 444097307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     23376 | NS      | $355315.20    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST           | Vornado Realty Trust                       | CUSIP: 929042828<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     17279 | NS      | $301000.18    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP           | AGNC Investment Corp                       | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     11631 | NS      | $291821.79    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRUST INC         | Arbor Realty Trust Inc                     | CUSIP: 038923876<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |     16647 | NS      | $300977.76    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                 | EPR Properties                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     24466 | NS      | $1327280.50   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc        | Ellington Financial Inc                    | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     81961 | NS      | $1117948.04   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties  | Gaming and Leisure Properties Inc          | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     27922 | NS      | $1340535.22   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp      | Gladstone Commercial Corp                  | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               | CORP              | US        |     74563 | NS      | $1002872.35   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC           | Global Net Lease Inc                       | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     12862 | NS      | $303543.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AG Mortgage Investment Trust I | AG Mortgage Investment Trust Inc           | CUSIP: 001228501<br>LEI: 549300SNP0PBR2XTFR48 | Long             | EC               | CORP              | US        |    150538 | NS      | $1138067.28   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     19029 | NS      | $1568750.76   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust I | Alpine Income Property Trust Inc           | CUSIP: 02083X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69308 | NS      | $1058333.16   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Oak Mortgage REIT Inc    | Angel Oak Mortgage REIT Inc                | CUSIP: 03464Y108<br>LEI: 5493008M8D7W7VZZ7V36 | Long             | EC               | CORP              | US        |    112006 | NS      | $1104379.16   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     68700 | NS      | $1455753.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Commercial Real Estate Co | Ares Commercial Real Estate Corp           | CUSIP: 04013V108<br>LEI: 549300ZNO5IWXS443S81 | Long             | EC               | CORP              | US        |    228474 | NS      | $1078397.28   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR RESIDENTIAL REIT        | ARMOUR Residential REIT Inc                | CUSIP: 042315606<br>LEI: 549300K0WA0EJUX74V72 | Long             | EP               | CORP              | US        |     13977 | NS      | $303021.36    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR Residential REIT Inc    | ARMOUR Residential REIT Inc                | CUSIP: 042315705<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               | CORP              | US        |     64624 | NS      | $989393.44    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Braemar Hotels & Resorts Inc   | Braemar Hotels & Resorts Inc               | CUSIP: 10482B101<br>LEI: 549300JDUUEBN868C776 | Long             | EC               | CORP              | US        |    516353 | NS      | $1425134.28   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust        | Brandywine Realty Trust                    | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               | CORP              | US        |    251880 | NS      | $1073008.80   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP        | Chimera Investment Corp                    | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     12449 | NS      | $289439.25    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP        | Chimera Investment Corp                    | CUSIP: 16934Q604<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     11570 | NS      | $285894.70    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properti | Innovative Industrial Properties Inc       | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     18597 | NS      | $1053706.02   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                   | NNN REIT Inc                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     31383 | NS      | $1346644.53   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mortgage Trust Inc    | New York Mortgage Trust Inc                | CUSIP: 649604840<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EC               | CORP              | US        |    160857 | NS      | $1161387.54   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Orchid Island Capital Inc      | Orchid Island Capital Inc                  | CUSIP: 68571X301<br>LEI: 549300KBIHGT19K9DY89 | Long             | EC               | CORP              | US        |    149234 | NS      | $1053592.04   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Clipper Realty Inc             | Clipper Realty Inc                         | CUSIP: 18885T306<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    262109 | NS      | $1174248.32   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc | Community Healthcare Trust Inc             | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     65154 | NS      | $1004023.14   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties | Easterly Government Properties Inc         | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     48713 | NS      | $1115040.57   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    452880 | NS      | $452880.11    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's Inc                | Alexander's Inc                            | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               | CORP              | US        |      4826 | NS      | $1111620.84   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust Inc  | Blackstone Mortgage Trust Inc              | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               | CORP              | US        |     68920 | NS      | $1348075.20   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BrightSpire Capital Inc        | BrightSpire Capital Inc                    | CUSIP: 10949T109<br>LEI: 549300BOIFLLMVU37752 | Long             | EC               | CORP              | US        |    205309 | NS      | $1190792.20   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc       | Broadstone Net Lease Inc                   | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     66798 | NS      | $1241774.82   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP        | Chimera Investment Corp                    | CUSIP: 16934Q406<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     11422 | NS      | $282694.50    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Realty Trust Inc  | Franklin BSP Realty Trust Inc              | CUSIP: 35243J101<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EC               | CORP              | US        |     95091 | NS      | $1098301.05   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc     | Apple Hospitality REIT Inc                 | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    112545 | NS      | $1469837.70   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc  | Armada Hoffler Properties Inc              | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               | CORP              | US        |    148377 | NS      | $1080184.56   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC           | Global Net Lease Inc                       | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |     13478 | NS      | $305815.82    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Tr | National Storage Affiliates Trust          | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     37799 | NS      | $1218261.77   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T | PennyMac Mortgage Investment Trust         | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     84508 | NS      | $1040293.48   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ready Capital Corp             | Ready Capital Corp                         | CUSIP: 75574U101<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EC               | CORP              | US        |    246469 | NS      | $1049957.94   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     23246 | NS      | $1365934.96   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| AG MORTGAGE INVEST TR          | AG Mortgage Investment Trust Inc           | CUSIP: 001228402<br>LEI: 549300SNP0PBR2XTFR48 | Long             | EP               | CORP              | US        |     11383 | NS      | $284916.49    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc      | American Assets Trust Inc                  | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54208 | NS      | $1132947.20   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT            | Annaly Capital Management Inc              | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |     11147 | NS      | $287258.19    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc           | Global Net Lease Inc                       | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |    133597 | NS      | $1051408.39   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Medical REIT Inc        | Global Medical REIT Inc                    | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               | CORP              | US        |    166564 | NS      | $1249230.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP           | Two Harbors Investment Corp                | CUSIP: 90187B309<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |     12630 | NS      | $283796.10    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc    | Healthcare Realty Trust Inc                | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |     89956 | NS      | $1563435.28   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR REAL ESTATE FIN            | KKR Real Estate Finance Trust Inc          | CUSIP: 48251K209<br>LEI: 549300K23AYZDZ2REL62 | Long             | EP               | CORP              | US        |     14788 | NS      | $289696.92    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ LODGING TRUST              | RLJ Lodging Trust                          | CUSIP: 74965L200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     11803 | NS      | $287285.02    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp    | Two Harbors Investment Corp                | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |     95178 | NS      | $951780.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income | Universal Health Realty Income Trust       | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               | CORP              | US        |     27183 | NS      | $1103357.97   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST           | Vornado Realty Trust                       | CUSIP: 929042810<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     17383 | NS      | $302811.86    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP             | Rithm Capital Corp                         | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |     11403 | NS      | $287697.69    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST        | Pebblebrook Hotel Trust                    | CUSIP: 70509V803<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |     15716 | NS      | $315891.60    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP             | Ready Capital Corp                         | CUSIP: 75574U887<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |     18589 | NS      | $289244.84    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc    | Starwood Property Trust Inc                | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     66097 | NS      | $1339786.19   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MORTGAGE TRUST        | New York Mortgage Trust Inc                | CUSIP: 649604873<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |     11769 | NS      | $291635.82    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MORTGAGE TRUST        | New York Mortgage Trust Inc                | CUSIP: 649604881<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |     12949 | NS      | $279957.38    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexpoint Real Estate Finance I | Nexpoint Real Estate Finance Inc           | CUSIP: 65342V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69308 | NS      | $1039620.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     35659 | NS      | $1518003.63   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc        | Postal Realty Trust Inc                    | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |     78592 | NS      | $1244897.28   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Redwood Trust Inc              | Redwood Trust Inc                          | CUSIP: 758075402<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | EC               | CORP              | US        |    189837 | NS      | $1161802.44   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc               | Saul Centers Inc                           | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31668 | NS      | $1082095.56   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Seven Hills Realty Trust       | Seven Hills Realty Trust                   | CUSIP: 81784E101<br>LEI: 549300ESBDZ3SA3OEX38 | Long             | EC               | CORP              | US        |     89256 | NS      | $965749.92    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc    | Summit Hotel Properties Inc                | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |    248845 | NS      | $1363670.60   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG RE Finance Trust Inc       | TPG RE Finance Trust Inc                   | CUSIP: 87266M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136060 | NS      | $1272161.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                   | WP Carey Inc                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     21034 | NS      | $1411381.40   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT            | Annaly Capital Management Inc              | CUSIP: 035710862<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |     11515 | NS      | $292365.85    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                        | BXP Inc                                    | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     19978 | NS      | $1448604.78   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Atlantic Real Estate F | Chicago Atlantic Real Estate Finance Inc   | CUSIP: 167239102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71220 | NS      | $1014172.80   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ladder Capital Corp            | Ladder Capital Corp                        | CUSIP: 505743104<br>LEI: 549300Q6LLV2QCV67C06 | Long             | EC               | CORP              | US        |    100263 | NS      | $1165056.06   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Modiv Industrial Inc           | Modiv Industrial Inc                       | CUSIP: 60784B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72930 | NS      | $1106348.10   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp             | Rithm Capital Corp                         | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |    115981 | NS      | $1435844.78   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP             | Rithm Capital Corp                         | CUSIP: 64828T300<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |     11334 | NS      | $287883.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc          | CTO Realty Growth Inc                      | CUSIP: 22948Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57885 | NS      | $1000252.80   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc       | Highwoods Properties Inc                   | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     44932 | NS      | $1416705.96   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| INNOVATIVE INDUSTRIAL          | Innovative Industrial Properties Inc       | CUSIP: 45781V200<br>LEI: 5493008BQ0545EZXRR30 | Long             | EP               | CORP              | US        |     11706 | NS      | $289138.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Mortgage Capital Inc   | Invesco Mortgage Capital Inc               | CUSIP: 46131B704<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EC               | CORP              | US        |    140504 | NS      | $1098741.28   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC              | MFA Financial Inc                          | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |     11754 | NS      | $286915.14    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT       | PennyMac Mortgage Investment Trust         | CUSIP: 70931T509<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |     14702 | NS      | $275368.46    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc     | Sabra Health Care REIT Inc                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     74017 | NS      | $1414464.87   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer