# EDGAR Filing Document

**Accession Number:** 0001969674
**File Stem:** 0000940400-26-021756
**Filing Date:** 2026-5
**Character Count:** 38117
**Document Hash:** ad5fdd5289286a2f15a2e2f0a11bfa43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021756.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021756

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 2023 ETF Series Trust
- **CENTRAL INDEX KEY:** 0001969674

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23883
- **FILM NUMBER:** 261032143

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **BUSINESS PHONE:** (833) 782-2211

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI

## Series and Classes Contracts Data

### Brandes International ETF (Series ID: S000081642)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000244569 | Brandes International ETF | BINV            |

## Nport-Ex

#### Brandes

#### International

#### ETF

#### Schedule

#### of

#### Investments
March

31,

2026

(Unaudited)

#### Shares

#### Value

#### Common

#### Stocks

#### –

#### 96.0%

#### Austria

#### –

#### 1.0%
Erste

Group

Bank

AG

..........................................................

41,935

$

4,483,549

#### Brazil

#### –

#### 6.9%
Ambev

SA,

ADR

..............................................................

2,779,229

8,115,348

Embraer

SA,

ADR

.............................................................

119,950

7,117,833

Petroleo

Brasileiro

SA

-

Petrobras

,

ADR

............................................

694,241

13,017,019

Telefonica

Brasil

SA,

ADR

.......................................................

235,399

3,745,198

31,995,398

#### Canada

#### –

#### 3.2%
CAE,

Inc.\*

...................................................................

259,304

6,754,869

Nutrien

Ltd.

..................................................................

32,099

2,422,190

Open

Text

Corp.

..............................................................

250,274

5,566,094

14,743,153

#### China

#### –

#### 4.8%
Alibaba

Group

Holding

Ltd.,

ADR

.................................................

79,047

9,917,237

China

Resources

Beer

Holdings

Co.

Ltd.

...........................................

2,063,000

6,745,820

Trip.com

Group

Ltd.,

ADR\*

......................................................

113,193

5,635,879

22,298,936

#### France

#### –

#### 18.7%
BNP

Paribas

SA,

ADR

.........................................................

150,120

7,144,211

Capgemini

SE

................................................................

59,544

6,916,838

Carrefour

SA

.................................................................

516,175

9,489,301

Kering

SA,

ADR

...............................................................

285,665

8,661,363

Pernod

Ricard

SA

.............................................................

108,423

8,048,136

Publicis

Groupe

SA

............................................................

82,459

6,751,809

Sanofi

SA

....................................................................

154,749

14,795,919

Societe

BIC

SA

...............................................................

58,209

3,613,000

Sodexo

SA

...................................................................

114,691

5,846,171

STMicroelectronics

NV

.........................................................

216,175

7,147,448

TotalEnergies

SE

..............................................................

81,366

7,609,370

86,023,566

#### Germany

#### –

#### 7.9%
Deutsche

Post

AG

.............................................................

152,142

7,869,475

Fresenius

Medical

Care

AG

.....................................................

155,100

6,914,567

Henkel

AG

&

Co.

KGaA

.........................................................

126,461

9,033,346

Infineon

Technologies

AG

.......................................................

49,605

2,178,776

SAP

SE,

ADR

................................................................

61,128

10,465,725

36,461,889

#### Hong

#### Kong

#### –

#### 0.7%
First

Pacific

Co.

Ltd.

...........................................................

4,666,000

3,260,940

#### Israel

#### –

#### 1.0%
Nice

Ltd.,

ADR\*

...............................................................

40,252

4,438,186

#### Italy

#### –

#### 2.0%
Buzzi

SpA

...................................................................

69,252

3,448,352

Intesa

Sanpaolo

SpA

...........................................................

957,312

5,710,721

9,159,073

#### Brandes

#### International

#### ETF

#### Schedule

#### of

#### Investments
(Continued)

March

31,

2026

(Unaudited)

#### Shares

#### Value

#### Common

#### Stocks
(continued)

#### Japan

#### –

#### 12.7%
Astellas

Pharma,

Inc.

..........................................................

673,300

$

10,686,763

Bridgestone

Corp.

.............................................................

267,600

5,508,643

Honda

Motor

Co.

Ltd.

..........................................................

841,000

6,663,668

Kubota

Corp.

.................................................................

368,500

5,704,953

Makita

Corp.

.................................................................

185,400

5,930,978

SMC

Corp.

...................................................................

14,600

5,507,715

Sumitomo

Mitsui

Trust

Holdings,

Inc.

..............................................

221,600

6,844,669

Takeda

Pharmaceutical

Co.

Ltd.

..................................................

331,500

11,830,856

58,678,245

#### Mexico

#### –

#### 7.7%
America

Movil

SAB

de

CV,

ADR

..................................................

310,398

7,908,941

Cemex

SAB

de

CV,

ADR

.......................................................

290,241

3,320,357

Fibra

Uno

Administracion

SA

de

CV

REIT

..........................................

5,131,622

8,351,806

Kimberly-Clark

de

Mexico

SAB

de

CV,

Class

A

......................................

1,923,275

4,553,064

Wal-Mart

de

Mexico

SAB

de

CV

..................................................

3,418,724

11,101,363

35,235,531

#### Netherlands

#### –

#### 4.8%
DSM-

Firmenich

AG

............................................................

72,278

5,132,877

Heineken

Holding

NV

..........................................................

127,982

9,075,426

Koninklijke

Philips

NV

..........................................................

280,597

7,688,358

21,896,661

#### Singapore

#### –

#### 2.4%
Wilmar

International

Ltd.

........................................................

3,641,500

10,904,391

#### South

#### Korea

#### –

#### 0.4%
Samsung

Electronics

Co.

Ltd.,

GDR

...............................................

1,025

1,988,500

#### Spain

#### –

#### 1.5%
Grifols

SA,

ADR

...............................................................

859,739

6,895,107

#### Switzerland

#### –

#### 6.3%
Cie

Financiere

Richemont

SA,

Class

A

.............................................

38,381

6,650,435

Novartis

AG,

ADR

.............................................................

29,250

4,467,937

Swatch

Group

AG

(The)

-

BR

....................................................

15,984

3,468,264

Swatch

Group

AG

(The)

-

REG

...................................................

167,758

7,292,731

UBS

Group

AG

...............................................................

180,250

7,042,368

28,921,735

#### Taiwan

#### –

#### 0.7%
Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR

..................................

9,861

3,332,525

#### United

#### Kingdom

#### –

#### 13.3%
Diageo

PLC,

ADR

.............................................................

71,639

5,333,524

GSK

PLC,

ADR

...............................................................

162,820

8,986,036

J

Sainsbury

PLC,

ADR

.........................................................

384,951

7,025,356

Kingfisher

PLC,

ADR

...........................................................

708,532

5,406,099

Mondi

PLC,

ADR

..............................................................

313,085

7,075,721

National

Grid

PLC,

ADR

........................................................

77,824

6,583,910

Reckitt

Benckiser

Group

PLC,

ADR

...............................................

410,588

5,583,997

#### Brandes

#### International

#### ETF

#### Schedule

#### of

#### Investments
(Continued)

March

31,

2026

(Unaudited)

#### Shares

#### Value

#### Common

#### Stocks
(continued)

#### United

#### Kingdom
(continued)

Shell

PLC,

ADR

...............................................................

76,432

$

7,108,176

Smith

&

Nephew

PLC,

ADR

.....................................................

163,726

5,203,212

WPP

PLC

...................................................................

967,267

2,989,422

61,295,453

Total

Common

Stocks

(Cost

$422,359,292)

.......................................................

442,012,838

#### Preferred

#### Stocks

#### –

#### 0.8%

#### South

#### Korea

#### –

#### 0.8%
Samsung

Electronics

Co.

Ltd.,

Class

Preference

(Cost

$1,831,933)

...........................................................

48,328

3,597,030

#### Money

#### Market

#### Funds

#### –

#### 1.4%
JP

Morgan

US

Treasury

Plus

Money

Market

Fund,

3.56%

(a) (Cost

$6,390,766)

...........................................................

6,390,766

6,390,766

Total

Investments

–

98.2%

(Cost

$430,581,991)

.........................................................................

$

452,000,634

Other

Assets

in

Excess

of

Liabilities

–

1.8%

.........................................................

8,484,050

#### Net

#### Assets

#### –

#### 100.0%

#### ..........................................................................

#### $

#### 460,484,684
\*

Non

Income

Producing

(a) Rate

shown

reflects

the

7-day

yield

as

of

March

31,

2026. ADR

:

American

Depositary

Receipt

GDR

:

Global

Depositary

Receipt

PLC

:

Public

Limited

Company

REIT

:

Real

Estate

Investment

Trust

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** 2023 ETF Series Trust

- **b. Investment Company Act file number:** 811-23883

- **c. CIK number of Registrant:** 0001969674

- **d. LEI of Registrant:** 5493000L2E3DBUPMOK03

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

  - **Street Address 1:** 234 W. Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** (833)782-2211

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

- **a. Name of Series:** Brandes International ETF

- **b. EDGAR series identifier (if any):** S000081642

- **c. LEI of Series:** 5493000L37RXKX8UYZ17

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

- **a. Date of fiscal year-end:** 2026-06-30

- **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:** $461309584.35

**Total Liabilities:** $825361.35

**Net Assets:** $460484223.00

**Cash Not Reported:** $1865284.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244569 | 4.87%                | 5.93%                | -8.38%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3158503.01              | $17084258.65                               |
| Month 2  | $7517046.21              | $18668104.66                               |
| Month 3  | $11660144.01             | $-54480267.10                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CAE Inc                                                    | CAE Inc COM                                                | CUSIP: 124765108<br>LEI: 549300FFM2BEH2GF1E44 | Long             | EC               | CORP              | CA        |    259304 | NS      | $6754869.20   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe BIC SA                                             | Societe BIC SA EUR3.82                                     | CUSIP: 000000000<br>LEI: 969500UR00DF63I0VH67 | Long             | EC               | CORP              | FR        |     58209 | NS      | $3613000.25   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                                 | Diageo PLC SPON ADR NEW                                    | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     71639 | NS      | $5333523.55   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Trust Ii                                         | JP Morgan Trust Ii US TREAS CAP                            | CUSIP: 4812C2239<br>LEI: 549300IMXLYKELY96B40 | Long             | STIV             | RF                | US        |   6390766 | NS      | $6390765.50   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| The Swatch Group AG                                        | The Swatch Group AG CHF2.25(BR)                            | CUSIP: 000000000<br>LEI: 529900NTES2LEON1JZ55 | Long             | EC               | CORP              | CH        |     15984 | NS      | $3468264.13   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev S.A.                                                 | Ambev S.A. SPONSORED ADR                                   | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |   2779229 | NS      | $8115348.68   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FIBRA UNO ADMINISTRACION SA DE CV                          | Banco Actinver SA CBFI (FIBRA UNO ADMINISTRACION SA DE CV) | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   5131622 | NS      | $8351805.71   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Limited                                               | Nice Limited SPONSORED ADR                                 | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |     40252 | NS      | $4438185.52   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrefour S.A.                                             | Carrefour S.A. EUR2.50                                     | CUSIP: 000000000<br>LEI: 549300B8P6MUJ1YWTS08 | Long             | EC               | CORP              | FR        |    516175 | NS      | $9489300.68   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie Financiere Richemont Sa                          | Compagnie Financiere Richemont Sa CHF1 (REGD)              | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     38381 | NS      | $6650434.65   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd.                                  | Wilmar International Ltd. NPV                              | CUSIP: 000000000<br>LEI: 549300H2EAI4YRLWBB20 | Long             | EC               | CORP              | SG        |   3641500 | NS      | $10904390.60  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Grifols S.A.                                               | Grifols S.A. SP ADR REP B NVT                              | CUSIP: 398438408<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |    859739 | NS      | $6895106.78   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                                  | Shell PLC SPON ADS                                         | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     76432 | NS      | $7108176.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Kubota Corporation                                         | Kubota Corporation NPV                                     | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Long             | EC               | CORP              | JP        |    368500 | NS      | $5704952.58   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Capgemini SE                                               | Capgemini SE EUR8                                          | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     59544 | NS      | $6916838.50   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                           | TotalEnergies SE EUR2.5                                    | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     81366 | NS      | $7609370.59   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Corp                                             | Open Text Corp COM                                         | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |    250274 | NS      | $5566093.76   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| WAL-MART DE MEXICO SAB DE CV (WAL-MART DE MEXICO SA DE CV) | Wal-Mart De Mexico COM NPV                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   3418724 | NS      | $11101363.43  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STMICROELECTRONICS NV                                      | STMicroelectronics N.V. EUR1.04                            | CUSIP: 000000000<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | NL        |    216175 | NS      | $7147447.73   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                               | UBS Group AG SHS                                           | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    180250 | NS      | $7042367.50   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd.                              | Takeda Pharmaceutical Co Ltd. NPV                          | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    331500 | NS      | $11830855.99  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp.                                          | Bridgestone Corp. NPV                                      | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |    267600 | NS      | $5508643.08   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC                                | Reckitt Benckiser Group PLC SPONSORED ADR                  | CUSIP: 756255303<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    410588 | NS      | $5583996.80   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corp.                                               | Makita Corp. NPV                                           | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |    185400 | NS      | $5930977.60   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark de Mexico S.A.B. de C.V.                    | Kimberly-Clark de Mexico S.A.B. de C.V. COM SER'A'NPV      | CUSIP: 000000000<br>LEI: 549300JGHL56QT00KT54 | Long             | EC               | CORP              | MX        |   1923275 | NS      | $4553063.56   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Philips NV                                     | Koninklijke Philips NV NY REGIS SHS NEW                    | CUSIP: 500472303<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |    280597 | NS      | $7688357.80   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST PACIFIC COMPANY LTD                                  | First Pacific Co Ltd. USD0.01                              | CUSIP: 000000000<br>LEI: 254900VS1MDQSDM9DE09 | Long             | EC               | CORP              | BM        |   4666000 | NS      | $3260939.65   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| TCOM/TRIP.COM GROUP LTD                                    | Trip.com Group Ltd. ADS                                    | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |    113193 | NS      | $5635879.47   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Corp.                                                  | SMC Corp. NPV                                              | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     14600 | NS      | $5507715.57   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard SA                                           | Pernod Ricard SA EUR1.55                                   | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |    108423 | NS      | $8048135.67   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                                        | Erste Group Bank AG NPV                                    | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     41935 | NS      | $4483549.29   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                                    | GSK plc SPONSORED ADR                                      | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    162820 | NS      | $8986035.80   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil S.A                                      | Telefonica Brasil S.A SPONSORED ADS                        | CUSIP: 87936R205<br>LEI: 529900MTGG2HSDBIWG79 | Long             | EC               | CORP              | BR        |    235399 | NS      | $3745198.09   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DHL GROUP                                                  | DHL GROUP                                                  | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    152142 | NS      | $7869474.43   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                                | Novartis AG SPONSORED ADR                                  | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     29250 | NS      | $4467937.50   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding N.V.                                      | Heineken Holding N.V. EUR1.60                              | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |    127982 | NS      | $9075426.16   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                                  | Sanofi SA EUR2                                             | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    154749 | NS      | $14795919.00  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kering S.A.                                                | Kering S.A. UNSPONSORED ADR                                | CUSIP: 492089107<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |    285665 | NS      | $8661362.80   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co. KGaA                                       | Henkel AG & Co. KGaA NPV(BR)                               | CUSIP: 000000000<br>LEI: 549300VZCL1HTH4O4Y49 | Long             | EC               | CORP              | DE        |    121737 | NS      | $8695902.03   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd.                                        | Honda Motor Co Ltd. NPV                                    | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |    815700 | NS      | $6463203.74   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                                | Samsung Electronics Co Ltd. GDR UNITARY                    | CUSIP: 796050201<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      1025 | NS      | $1988500.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc.                           | Sumitomo Mitsui Trust Group Inc. NPV                       | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |    221600 | NS      | $6844669.04   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer S.A.                                               | Embraer S.A. SPONSORED ADS                                 | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |    119950 | NS      | $7117833.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                             | BNP Paribas SA SPONSORED ADR                               | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |    150120 | NS      | $7144210.80   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP PLC                                                    | WPP PLC ORD GBP0.10                                        | CUSIP: 000000000<br>LEI: 549300LSGBXPYHXGDT93 | Long             | EC               | CORP              | JE        |    967267 | NS      | $2989422.45   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc.                                       | Astellas Pharma Inc. NPV                                   | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |    673300 | NS      | $10686762.86  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Publicis Groupe SA                                         | Publicis Groupe SA EUR0.40                                 | CUSIP: 000000000<br>LEI: 2138004KW8BV57III342 | Long             | EC               | CORP              | FR        |     82459 | NS      | $6751809.56   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                                  | Fresenius Medical Care AG NPV                              | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |    155100 | NS      | $6914567.25   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX S.A.B. de C.V.                                       | CEMEX S.A.B. de C.V. SPON ADR NEW                          | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |    290241 | NS      | $3320357.04   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                                          | National Grid PLC SPONSORED ADR NE                         | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     77824 | NS      | $6583910.40   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                                                | Nutrien Ltd COM                                            | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     32099 | NS      | $2422190.54   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                                     | SAP SE SPON ADR                                            | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     61128 | NS      | $10465724.88  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.               | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      9861 | NS      | $3332524.95   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingfisher PLC                                             | Kingfisher PLC SPON ADR PAR                                | CUSIP: 495724403<br>LEI: 213800KBMEV7I92FY281 | Long             | EC               | CORP              | GB        |    708532 | NS      | $5406099.16   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo S.p.A.                                     | Intesa Sanpaolo S.p.A. NPV                                 | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    957312 | NS      | $5710720.83   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                                   | Infineon Technologies AG ORD NPV (REGD)                    | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     49605 | NS      | $2178776.18   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| DSM Firmenich AG                                           | DSM Firmenich AG EUR0.01                                   | CUSIP: 000000000<br>LEI: 506700G44V67MPM4BI12 | Long             | EC               | CORP              | CH        |     72278 | NS      | $5132877.53   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sodexo S.A.                                                | Sodexo S.A. EUR4                                           | CUSIP: 000000000<br>LEI: 969500LCBOG12HXPYM84 | Long             | EC               | CORP              | FR        |    114691 | NS      | $5846170.77   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Nephew PLC                                         | Smith & Nephew PLC SPDN ADR NEW                            | CUSIP: 83175M205<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |    163726 | NS      | $5203212.28   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil S.A.B. de C.V.                               | America Movil S.A.B. de C.V. SPON ADS RP CL B              | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |    310398 | NS      | $7908941.04   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sainsbury (J) PLC                                          | Sainsbury (J) PLC SPON ADR NEW                             | CUSIP: 466249208<br>LEI: 213800VGZAAJIKJ9Y484 | Long             | EC               | CORP              | GB        |    384951 | NS      | $7025355.75   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| China Resources Beer Holdings Co Ltd.                      | China Resources Beer Holdings Co Ltd. NPV                  | CUSIP: 000000000<br>LEI: 254900OH02Y7OS7RNG48 | Long             | EC               | CORP              | HK        |   2063000 | NS      | $6745819.52   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                                     | Petroleo Brasileiro SA SP ADR NON VTG                      | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    694241 | NS      | $13017018.75  | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Buzzi S.p.A.                                               | Buzzi S.p.A. NPV                                           | CUSIP: 000000000<br>LEI: 5299003DX5YLKSVJ6K59 | Long             | EC               | CORP              | IT        |     69252 | NS      | $3448351.93   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondi PLC                                                  | Mondi PLC UNSPONSORED ADR                                  | CUSIP: 60921V200<br>LEI: 213800LOZA69QFDC9N34 | Long             | EC               | CORP              | GB        |    313085 | NS      | $7075721.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| The Swatch Group AG                                        | The Swatch Group AG CHF0.45(REGD)                          | CUSIP: 000000000<br>LEI: 529900NTES2LEON1JZ55 | Long             | EC               | CORP              | CH        |    167758 | NS      | $7292731.47   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                                  | Alibaba Group Holding Ltd. SPONSORED ADS                   | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     79047 | NS      | $9917236.62   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                                | Samsung Electronics Co Ltd. N/VTG PFD KRW100               | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |     48328 | NS      | $3597030.65   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** 2023 ETF Series Trust

**Signature:** Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Principal Financial Officer