# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-002818
**Filing Date:** 2026-1
**Character Count:** 46131
**Document Hash:** 12f249877d499b4d8b38a3dadce9bbdb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002818.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000894189-26-002818

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**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:** 26575634

**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 Housing ETF (Series ID: S000065066)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000210709 | Hoya Capital Housing ETF | HOMZ            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Hoya Capital Housing ETF** | **Hoya Capital Housing ETF** | **Hoya Capital Housing ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.1%** | **Shares** | **Value**  |
| **Home Building Products & Materials - 13.5%** | **Home Building Products & Materials - 13.5%** | |
| Beazer Homes USA, Inc. <sup>(a)</sup> | 12052 | $275629 |
| Builders FirstSource, Inc. <sup>(a)</sup> | 2306 | 258802 |
| Cavco Industries, Inc. <sup>(a)</sup> | 528 | 314503 |
| Century Communities, Inc. | 4712 | 307646 |
| Champion Homes, Inc. <sup>(a)</sup> | 2965 | 254516 |
| Dream Finders Homes, Inc. - Class A <sup>(a)</sup> | 11909 | 235441 |
| Eagle Materials, Inc. | 1165 | 260634 |
| Green Brick Partners, Inc. <sup>(a)</sup> | 4228 | 286997 |
| Installed Building Products, Inc. | 1595 | 427492 |
| Leggett & Platt, Inc. | 28685 | 294308 |
| Lennox International, Inc. | 440 | 219503 |
| LGI Homes, Inc. <sup>(a)</sup> | 4851 | 252349 |
| Louisiana-Pacific Corp. | 2697 | 221181 |
| PotlatchDeltic Corp. | 6527 | 262646 |
| Rayonier, Inc. | 10717 | 238025 |
| Simpson Manufacturing Company, Inc. | 1618 | 270821 |
| TopBuild Corp. <sup>(a)</sup> | 893 | 404082 |
| Watsco, Inc. | 549 | 190174 |
| Weyerhaeuser Co. | 9902 | 219923 |
|  |  | 5194672 |
| **Home Furnishings & Home Goods - 13.4%** | **Home Furnishings & Home Goods - 13.4%** |  |
| A.O. Smith Corp. | 3865 | 255013 |
| American Woodmark Corp. <sup>(a)</sup> | 4566 | 251723 |
| Carrier Global Corp. | 3650 | 200312 |
| Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 3534 | 224833 |
| Fortune Brands Home & Security, Inc. | 5155 | 266153 |
| Hayward Holdings, Inc. <sup>(a)</sup> | 19037 | 313159 |
| La-Z-Boy, Inc. | 6171 | 240175 |
| Masco Corp. | 4193 | 272000 |
| Masterbrand, Inc. <sup>(a)</sup> | 26439 | 293208 |
| Mohawk Industries, Inc. <sup>(a)</sup> | 2563 | 297052 |
| Owens Corning | 1936 | 219233 |
| RH <sup>(a)</sup> | 1401 | 220783 |
| Sherwin-Williams Co. | 735 | 252612 |
| Somnigroup International, Inc. | 4059 | 371480 |
| Trex Company, Inc. <sup>(a)</sup> | 4552 | 159229 |
| Wayfair, Inc. - Class A <sup>(a)</sup> | 7157 | 792996 |
| Whirlpool Corp. | 3352 | 259277 |
| Williams-Sonoma, Inc. | 1641 | 295396 |
|  |  | 5184634 |
| **Home Improvement Retailers - 5.4%** | **Home Improvement Retailers - 5.4%** |  |
| Home Depot, Inc. | 2755 | 983315 |
| Lowe's Companies, Inc. | 4520 | 1096009 |
|  |  | 2079324 |
| **Homebuilders - 16.6%** | **Homebuilders - 16.6%** |  |
| DR Horton, Inc. | 4211 | 669591 |
| KB Home | 9751 | 627282 |
| Lennar Corp. - Class A | 4750 | 623675 |
| M/I Homes, Inc. <sup>(a)</sup> | 4698 | 646398 |
| Meritage Homes Corp. | 7781 | 568635 |
| Millrose Properties, Inc. | 8913 | 271490 |
| NVR, Inc. <sup>(a)</sup> | 71 | 533018 |
| PulteGroup, Inc. | 5088 | 647143 |
| Taylor Morrison Home Corp. <sup>(a)</sup> | 8854 | 555057 |
| Toll Brothers, Inc. | 4792 | 670065 |
| Tri Pointe Homes, Inc. <sup>(a)</sup> | 16740 | 571169 |
|  |  | 6383523 |
| **Mortgage Lenders & Servicers - 11.1%** | **Mortgage Lenders & Servicers - 11.1%** |  |
| AGNC Investment Corp. | 25123 | 263540 |
| Annaly Capital Management, Inc. | 11819 | 269473 |
| Arbor Realty Trust, Inc. | 23427 | 208735 |
| Chimera Investment Corp. | 17109 | 218824 |
| Citizens Financial Group, Inc. | 5612 | 303609 |
| Ellington Financial, Inc. | 17625 | 241463 |
| Essent Group Ltd. | 3855 | 241940 |
| MFA Financial, Inc. | 23778 | 228744 |
| PennyMac Mortgage Investment Trust | 18173 | 233341 |
| PNC Financial Services Group, Inc. | 1292 | 246410 |
| Rithm Capital Corp. | 19953 | 229260 |
| Rocket Cos., Inc. - Class A | 17514 | 349930 |
| Starwood Property Trust, Inc. | 11371 | 208544 |
| Truist Financial Corp. | 5653 | 262864 |
| Two Harbors Investment Corp. | 20468 | 207546 |
| UWM Holdings Corp. | 54701 | 320001 |
| Wells Fargo & Co. | 3049 | 261757 |
|  |  | 4295981 |
| **Property, Title & Mortgage Insurance - 5.2%** | **Property, Title & Mortgage Insurance - 5.2%** |  |
| Allstate Corp. | 1093 | 232787 |
| Fidelity National Financial, Inc. | 4116 | 244614 |
| First American Financial Corp. | 3991 | 262448 |
| MGIC Investment Corp. | 8545 | 242251 |
| Old Republic International Corp. | 5931 | 273419 |
| Radian Group, Inc. | 6673 | 237225 |
| Stewart Information Services Corp. | 3656 | 280159 |
| Travelers Companies, Inc. | 819 | 239853 |
|  |  | 2012756 |
| **Real Estate Technology, Brokerage & Services - 5.3%** | **Real Estate Technology, Brokerage & Services - 5.3%** |  |
| Anywhere Real Estate, Inc. <sup>(a)</sup> | 66492 | 947511 |
| Compass, Inc. - Class A <sup>(a)</sup> | 37200 | 387624 |
| CoStar Group, Inc. <sup>(a)</sup> | 3001 | 206469 |
| RE/MAX Holdings, Inc. - Class A <sup>(a)</sup> | 30888 | 253899 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 3363 | 250140 |
|  |  | 2045643 |
| **Residential REITs & Real Estate Operators - 25.6% <sup>(b)</sup>** | **Residential REITs & Real Estate Operators - 25.6% <sup>(b)</sup>** |  |
| American Homes 4 Rent - Class A | 13271 | 426265 |
| AvalonBay Communities, Inc. | 2522 | 458853 |
| Camden Property Trust | 4421 | 470129 |
| Centerspace | 8170 | 545429 |
| CubeSmart | 12092 | 450185 |
| Elme Communities | 32032 | 556076 |
| Equity LifeStyle Properties, Inc. | 7866 | 494535 |
| Equity Residential | 7391 | 456394 |
| Essex Property Trust, Inc. | 1853 | 488488 |
| Extra Space Storage, Inc. | 3429 | 456640 |
| Independence Realty Trust, Inc. | 27776 | 476358 |
| Invitation Homes, Inc. | 15138 | 426892 |
| Mid-America Apartment Communities, Inc. | 3271 | 444496 |
| NexPoint Residential Trust, Inc. | 15005 | 477309 |
| Public Storage | 1684 | 462325 |
| Sun Communities, Inc. | 4166 | 536747 |
| UDR, Inc. | 12659 | 461041 |
| UMH Properties, Inc. | 30339 | 459029 |
| Ventas, Inc. | 7793 | 628350 |
| Welltower, Inc. | 3349 | 697329 |
|  |  | 9872870 |
| **TOTAL COMMON STOCKS** (Cost $33,862,065) | **TOTAL COMMON STOCKS** (Cost $33,862,065) | 37069403 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.8%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 3.92% <sup>(c)</sup> | 310247 | 310247 |
| **TOTAL MONEY MARKET FUNDS** (Cost $310,247) | **TOTAL MONEY MARKET FUNDS** (Cost $310,247) | 310247 |
| **TOTAL INVESTMENTS - 96.9% (**Cost $34,172,312**)** | **TOTAL INVESTMENTS - 96.9% (**Cost $34,172,312**)** | 37379650 |
| Other Assets in Excess of Liabilities - 3.1% | Other Assets in Excess of Liabilities - 3.1% | 1202802 |
| **TOTAL NET ASSETS - 100.0%** |  | $38582452 |
| Percentages are stated as a percent of net assets.<br> The Fund's security classifications are defined by the Fund's Adviser. | Percentages are stated as a percent of net assets.<br> The Fund's security classifications are defined by the Fund's Adviser. |  |

---

REIT - Real Estate Investment Trust<br>

(a) Non-income producing security.

(b) To the extent that the Fund invests more heavily in particular industries or sectors 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 November 30, 2025.

------

#### <br>

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Hoya Capital Housing 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 November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $37069403 | $– | $– | $37069403 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 310247 | – | – | 310247 |
| Total Investments | $37379650 | $– | $– | $37379650 |
| 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:** Hoya Capital Housing ETF

- **b. EDGAR series identifier (if any):** S000065066

- **c. LEI of Series:** 5493006GQFVD88T27V21

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

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

- **b. Date as of which information is reported:** 2025-11-30

**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:** $37421943.09

**Total Liabilities:** $8656.48

**Net Assets:** $37413286.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210709 | -1.16%               | -5.02%               | 4.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-574727.31                                |
| Month 2  | $0.00                    | $-1908033.69                               |
| Month 3  | $0.00                    | $1680701.56                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lowe's Cos Inc                 | Lowe's Cos Inc                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4520 | NS      | $1096009.60   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group Inc/The       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1292 | NS      | $246410.24    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T | PennyMac Mortgage Investment Trust         | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     18173 | NS      | $233341.32    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc            | Sun Communities Inc                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      4166 | NS      | $536747.44    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc             | UMH Properties Inc                         | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     30339 | NS      | $459029.07    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma Inc                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      1641 | NS      | $295396.41    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      7866 | NS      | $494535.42    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy Inc                   | La-Z-Boy Inc                               | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |      6171 | NS      | $240175.32    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |      8545 | NS      | $242250.75    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp                        | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      7781 | NS      | $568635.48    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                        | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        71 | NS      | $533017.59    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp            | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      5931 | NS      | $273419.10    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      1936 | NS      | $219232.64    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                     | Ventas Inc                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      7793 | NS      | $628349.59    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities               | Elme Communities                           | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |     32032 | NS      | $556075.52    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                    | Wayfair Inc                                | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |      7157 | NS      | $792995.60    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      3049 | NS      | $261756.65    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                 | Whirlpool Corp                             | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      3352 | NS      | $259277.20    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust          | Camden Property Trust                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      4421 | NS      | $470129.14    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc        | Century Communities Inc                    | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      4712 | NS      | $307646.48    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      5612 | NS      | $303609.20    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Dream Finders Homes Inc        | Dream Finders Homes Inc                    | CUSIP: 26154D100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11909 | NS      | $235440.93    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc           | Hayward Holdings Inc                       | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19037 | NS      | $313158.65    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc       | Lennox International Inc                   | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |       440 | NS      | $219502.80    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communit | Mid-America Apartment Communities Inc      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      3271 | NS      | $444496.19    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp             | Rithm Capital Corp                         | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |     19953 | NS      | $229259.97    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                    | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       735 | NS      | $252612.15    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co Inc               | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      1618 | NS      | $270820.84    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc             | Champion Homes Inc                         | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2965 | NS      | $254515.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc           | Tri Pointe Homes Inc                       | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16740 | NS      | $571168.80    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                      | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      5653 | NS      | $262864.50    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust Inc         | Arbor Realty Trust Inc                     | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |     23427 | NS      | $208734.57    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc      | AvalonBay Communities Inc                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      2522 | NS      | $458852.68    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp                        | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      3650 | NS      | $200312.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                           | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      3001 | NS      | $206468.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12092 | NS      | $450185.16    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      4211 | NS      | $669591.11    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      2697 | NS      | $221180.97    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Masterbrand Inc                | Masterbrand Inc                            | CUSIP: 57638P104<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | EC               | CORP              | US        |     26439 | NS      | $293208.51    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp            | PotlatchDeltic Corp                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |      6527 | NS      | $262646.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup Inc                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5088 | NS      | $647142.72    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                   | Rayonier Inc                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     10717 | NS      | $238024.57    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| RE/MAX Holdings Inc            | RE/MAX Holdings Inc                        | CUSIP: 75524W108<br>LEI: 54930033W2KS56JHAN30 | Long             | EC               | CORP              | US        |     30888 | NS      | $253899.36    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc    | Starwood Property Trust Inc                | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     11371 | NS      | $208544.14    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd               | Essent Group Ltd                           | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |      3855 | NS      | $241939.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp           | AGNC Investment Corp                       | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |     25123 | NS      | $263540.27    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc       | Essex Property Trust Inc                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      1853 | NS      | $488487.86    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    310247 | NS      | $310246.57    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc | NexPoint Residential Trust Inc             | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |     15005 | NS      | $477309.05    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource Inc                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      2306 | NS      | $258802.38    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                       | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       528 | NS      | $314503.20    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                    | Centerspace                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |      8170 | NS      | $545429.20    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials Inc                        | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      1165 | NS      | $260633.80    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The              | Allstate Corp/The                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1093 | NS      | $232787.14    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc        | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3429 | NS      | $456639.93    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      9751 | NS      | $627281.83    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                    | Lennar Corp                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      4750 | NS      | $623675.00    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In | Fidelity National Financial Inc            | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |      4116 | NS      | $244613.88    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc       | Green Brick Partners Inc                   | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |      4228 | NS      | $286996.64    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                 | A O Smith Corp                             | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      3865 | NS      | $255012.70    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      2755 | NS      | $983314.60    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services C | Stewart Information Services Corp          | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |      3656 | NS      | $280159.28    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      8854 | NS      | $555057.26    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc   | Somnigroup International Inc               | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      4059 | NS      | $371479.68    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp    | Two Harbors Investment Corp                | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |     20468 | NS      | $207545.52    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |       893 | NS      | $404082.50    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Cos Inc/The                      | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       819 | NS      | $239852.34    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| UWM Holdings Corp              | UWM Holdings Corp                          | CUSIP: 91823B109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54701 | NS      | $320000.85    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                | Weyerhaeuser Co                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      9902 | NS      | $219923.42    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Chimera Investment Corp        | Chimera Investment Corp                    | CUSIP: 16934Q802<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               | CORP              | US        |     17109 | NS      | $218824.11    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc                    | Compass Inc                                | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |     37200 | NS      | $387624.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc        | Ellington Financial Inc                    | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     17625 | NS      | $241462.50    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential             | Equity Residential                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      7391 | NS      | $456394.25    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc                 | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |      3534 | NS      | $224833.08    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc | Fortune Brands Innovations Inc             | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |      5155 | NS      | $266152.65    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc        | Millrose Properties Inc                    | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8913 | NS      | $271489.98    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      1684 | NS      | $462325.36    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      4792 | NS      | $670065.36    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                    | Trex Co Inc                                | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4552 | NS      | $159228.96    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      3349 | NS      | $697328.78    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15138 | NS      | $426891.60    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc       | Anywhere Real Estate Inc                   | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     66492 | NS      | $947511.00    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp         | American Woodmark Corp                     | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |      4566 | NS      | $251723.58    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     11819 | NS      | $269473.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     13271 | NS      | $426264.52    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazer Homes USA Inc           | Beazer Homes USA Inc                       | CUSIP: 07556Q881<br>LEI: 549300DUPYT2T0F60I45 | Long             | EC               | CORP              | US        |     12052 | NS      | $275629.24    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      3991 | NS      | $262448.16    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc  | Independence Realty Trust Inc              | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     27776 | NS      | $476358.40    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products Inc            | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      1595 | NS      | $427491.90    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LGI Homes Inc                  | LGI Homes Inc                              | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |      4851 | NS      | $252349.02    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc            | Leggett & Platt Inc                        | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |     28685 | NS      | $294308.10    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                  | M/I Homes Inc                              | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |      4698 | NS      | $646397.82    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA Financial Inc              | MFA Financial Inc                          | CUSIP: 55272X607<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EC               | CORP              | US        |     23778 | NS      | $228744.36    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                     | Masco Corp                                 | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      4193 | NS      | $271999.91    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc          | Mohawk Industries Inc                      | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      2563 | NS      | $297051.70    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                             | RH                                         | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      1401 | NS      | $220783.59    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc               | Zillow Group Inc                           | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |      3363 | NS      | $250139.94    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Radian Group Inc               | Radian Group Inc                           | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |      6673 | NS      | $237225.15    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos Inc                 | Rocket Cos Inc                             | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17514 | NS      | $349929.72    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                        | UDR Inc                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     12659 | NS      | $461040.78    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                     | Watsco Inc                                 | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |       549 | NS      | $190173.60    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer