# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-020545
**Filing Date:** 2025-12
**Character Count:** 25350
**Document Hash:** 93c9de4cc62c424ef7ff790b08cd04a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-020545.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000894189-25-020545

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20251031

**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:** 251615126

**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

### AAM Todd International Intrinsic Value ETF (Series ID: S000093585)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000261974 | AAM Todd International Intrinsic Value ETF | TIIV            |

## 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:** AAM Todd International Intrinsic Value ETF

- **b. EDGAR series identifier (if any):** S000093585

- **c. LEI of Series:** 52990022XZW5N84BQ389

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $21282899.14

**Total Liabilities:** $11439.59

**Net Assets:** $21271459.55

**Cash Not Reported:** $6928.46

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261974 | 4.59%                | 3.59%                | -0.31%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $93452.77                | $756747.25                                 |
| Month 2  | $218401.80               | $487934.54                                 |
| Month 3  | $98381.54                | $-183851.14                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Shell PLC                      | Shell PLC                                  | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      2942 | NS      | $220414.64    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries | Teva Pharmaceutical Industries Ltd         | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |     17999 | NS      | $368619.52    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd             | Tokyo Electron Ltd                         | CUSIP: 889110102<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      1638 | NS      | $180294.66    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Vinci SA                       | Vinci SA                                   | CUSIP: 927320101<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |      7579 | NS      | $253059.02    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd                   | Brambles Ltd                               | CUSIP: 105105209<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      8081 | NS      | $261581.97    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Capgemini SE                   | Capgemini SE                               | CUSIP: 13961R100<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |      5440 | NS      | $167334.94    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de Saint-Gobain SA         | Cie de Saint-Gobain SA                     | CUSIP: 204280309<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     12735 | NS      | $247313.70    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    560109 | NS      | $560109.37    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                              | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      5240 | NS      | $189792.80    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                    | Hitachi Ltd                                | CUSIP: 433578507<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |      9050 | NS      | $312949.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd                    | Komatsu Ltd                                | CUSIP: 500458401<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |     10617 | NS      | $355244.82    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV  | Koninklijke Ahold Delhaize NV              | CUSIP: 500467501<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |      9375 | NS      | $383250.00    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Lenovo Group Ltd               | Lenovo Group Ltd                           | CUSIP: 526250105<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | CN        |      7173 | NS      | $209738.52    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group | Mitsubishi UFJ Financial Group Inc         | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |     32384 | NS      | $489969.92    | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                    | Novartis AG                                | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      3269 | NS      | $404669.51    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Prysmian SpA                   | Prysmian SpA                               | CUSIP: 74440L106<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |      7163 | NS      | $371186.66    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Shionogi & Co Ltd              | Shionogi & Co Ltd                          | CUSIP: 824667109<br>LEI: 35380049VXDTHZI3DY35 | Long             | EC               | CORP              | JP        |     28061 | NS      | $231783.86    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                         | AXA SA                                     | CUSIP: 054536107<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      8161 | NS      | $354187.40    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujitsu Ltd                    | Fujitsu Ltd                                | CUSIP: 359590304<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |     18265 | NS      | $476168.55    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidelberg Materials AG        | Heidelberg Materials AG                    | CUSIP: 42281P304<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |      7392 | NS      | $346019.52    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      4048 | NS      | $290403.52    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1445 | NS      | $434121.35    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Techtronic Industries Co Ltd   | Techtronic Industries Co Ltd               | CUSIP: 87873R101<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |      4179 | NS      | $244596.87    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale SA                                    | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |     14619 | NS      | $176743.71    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                      | Petroleo Brasileiro SA - Petrobras         | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |     22733 | NS      | $264612.12    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC              | NatWest Group PLC                          | CUSIP: 639057207<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |     29762 | NS      | $460418.14    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Nephew PLC             | Smith & Nephew PLC                         | CUSIP: 83175M205<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |      7299 | NS      | $268749.18    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Financial Group Inc       | Sony Financial Group Inc                   | CUSIP: 83571B100<br>LEI: 353800O7BDSU41WOZA60 | Long             | EC               | CORP              | JP        |         1 | NS      | $2.98         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                 | BNP Paribas SA                             | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |      9968 | NS      | $383867.68    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA             | Banco Santander SA                         | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     52686 | NS      | $534762.90    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC   | British American Tobacco PLC               | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      7178 | NS      | $367441.82    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                                    | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | IE        |      3545 | NS      | $422209.50    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                   | Barclays PLC                               | CUSIP: 06738E204<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     24369 | NS      | $523689.81    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                   | ING Groep NV                               | CUSIP: 456837103<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     19032 | NS      | $474467.76    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA       | Itau Unibanco Holding SA                   | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     46985 | NS      | $345809.60    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com Inc                     | JD.com Inc                                 | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |      7853 | NS      | $259463.12    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Financial Group Inc         | KB Financial Group Inc                     | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      4082 | NS      | $332356.44    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp        | Manulife Financial Corp                    | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |      9623 | NS      | $311496.51    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                      | Sanofi SA                                  | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      5100 | NS      | $257958.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Bank Group Ltd        | Standard Bank Group Ltd                    | CUSIP: 853118206<br>LEI: 2549003PEZXUT7MDBU41 | Long             | EC               | CORP              | ZA        |     19883 | NS      | $294268.40    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd                                  | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |       954 | NS      | $264200.76    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV             | AerCap Holdings NV                         | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | IE        |      3910 | NS      | $509238.40    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                            | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |      9303 | NS      | $259460.67    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE               | TotalEnergies SE                           | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      3419 | NS      | $212798.56    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                                 | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | US        |      3820 | NS      | $321873.20    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |      2437 | NS      | $415337.91    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Group PLC              | Ashtead Group PLC                          | CUSIP: 045055100<br>LEI: 2138007UTBN8X9K1A235 | Long             | EC               | CORP              | GB        |       571 | NS      | $154164.29    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                | BAE Systems PLC                            | CUSIP: 05523R107<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |      3151 | NS      | $311665.41    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC                           | Canadian Imperial Bank of Commerce         | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |      3941 | NS      | $326590.67    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd         | DBS Group Holdings Ltd                     | CUSIP: 23304Y100<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      2754 | NS      | $455731.92    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd    | Daiwa House Industry Co Ltd                | CUSIP: 234062206<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |      7336 | NS      | $248690.40    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG            | Deutsche Telekom AG                        | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     11051 | NS      | $343465.08    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG      | Fresenius Medical Care AG                  | CUSIP: 358029106<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |     10552 | NS      | $283215.68    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                    | ITOCHU Corp                                | CUSIP: 465717106<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |      3351 | NS      | $386537.85    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corp                  | Marubeni Corp                              | CUSIP: 573810207<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |      1726 | NS      | $425079.28    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Ltd                    | Naspers Ltd                                | CUSIP: 631512209<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |     26795 | NS      | $376737.70    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                    | NetEase Inc                                | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | CN        |      2482 | NS      | $347728.20    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp                      | ORIX Corp                                  | CUSIP: 686330101<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |     13785 | NS      | $337594.65    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc               | PDD Holdings Inc                           | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | IE        |      2001 | NS      | $269874.87    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol SA                      | Repsol SA                                  | CUSIP: 76026T205<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |     16399 | NS      | $300429.68    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Veolia Environnement SA        | Veolia Environnement SA                    | CUSIP: 92334N103<br>LEI: 969500LENY69X51OOT31 | Long             | EC               | CORP              | FR        |     13586 | NS      | $223965.21    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vipshop Holdings Ltd           | Vipshop Holdings Ltd                       | CUSIP: 92763W103<br>LEI: 549300I9F52K06HPZX60 | Long             | EC               | CORP              | CN        |     17292 | NS      | $302437.08    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum China Holdings Inc         | Yum China Holdings Inc                     | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | CN        |      6176 | NS      | $267173.76    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ZTO Express Cayman Inc         | ZTO Express Cayman Inc                     | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | CN        |     10590 | NS      | $196868.10    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      2841 | NS      | $257678.70    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                             | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |      5411 | NS      | $223744.85    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductors NV                      | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |       934 | NS      | $195318.08    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer