# EDGAR Filing Document

**Accession Number:** 0001872253
**File Stem:** 0001752724-25-209368
**Filing Date:** 2025-8
**Character Count:** 52565
**Document Hash:** fa3f1c3c2fcad73f14e39351232fd646
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209368.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-209368

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Total Fund Solution
- **CENTRAL INDEX KEY:** 0001872253

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23724
- **FILM NUMBER:** 251264493

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANK GLOBAL FUND SERVICES
- **STREET 2:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 626-914-7363

**MAIL ADDRESS:**
- **STREET 1:** 615 E. MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Cromwell Long Short Fund (Series ID: S000074017)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000231342 | Investor Class      | MFADX           |
| C000231343 | Institutional Class | MFLDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Total Fund Solution

- **b. Investment Company Act file number:** 811-23724

- **c. CIK number of Registrant:** 0001872253

- **d. LEI of Registrant:** 549300CL4E1CB85QJL55

- **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:** 626-914-7363

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

- **a. Name of Series:** Cromwell Long Short Fund

- **b. EDGAR series identifier (if any):** S000074017

- **c. LEI of Series:** 549300QKPPPUH1ZCE572

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $102217856.78

**Total Liabilities:** $13436206.61

**Net Assets:** $88781650.17

**Cash Not Reported:** $13237936.20

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231343 | -0.79%               | 6.03%                | 3.97%                |
| Class ID C000231342 | -0.81%               | 6.02%                | 3.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $43728.13                | $-815018.04                                |
| Month 2  | $121085.27               | $4918533.96                                |
| Month 3  | $-11446.39               | $3444070.51                                |

**Designated Index Information**

- **Index Name:** Russell 1000

- **Index Identifier:** RU1000

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Gilead Sciences Inc                               | Gilead Sciences Inc                               | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      7830 | NS      | $868112.10    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                                    | CBRE Group Inc                                    | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      8339 | NS      | $1168460.68   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp                           | Warner Music Group Corp                           | CUSIP: 934550203<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6549 | NS      | $-178394.76   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                        | Verizon Communications Inc                        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     18226 | NS      | $788639.02    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In                    | Fidelity National Financial Inc                   | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Short            | EC               | CORP              | US        |     -4009 | NS      | $-224744.54   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                   | T-Mobile US Inc                                   | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3802 | NS      | $905864.52    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                      | Broadcom Inc                                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      4954 | NS      | $1365570.10   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                                    | Albemarle Corp                                    | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Short            | EC               | CORP              | US        |     -2231 | NS      | $-139816.77   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                       | Equifax Inc                                       | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Short            | EC               | CORP              | US        |      -802 | NS      | $-208014.74   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                             | Becton Dickinson & Co                             | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      2453 | NS      | $422529.25    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Oscar Health Inc                                  | Oscar Health Inc                                  | CUSIP: 687793109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -10078 | NS      | $-216072.32   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries                    | Teva Pharmaceutical Industries Ltd                | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Short            | EC               | CORP              | IL        |    -12405 | NS      | $-207907.80   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| MMC Norilsk Nickel PJSC                           | MMC Norilsk Nickel PJSC                           | CUSIP: 55315J102<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |    105916 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Crown Holdings Inc                                | Crown Holdings Inc                                | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |      6062 | NS      | $624264.76    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc                     | Old Dominion Freight Line Inc                     | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      2956 | NS      | $479758.80    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                        | Zimmer Biomet Holdings Inc                        | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Short            | EC               | CORP              | US        |     -1902 | NS      | $-173481.42   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc                          | Builders FirstSource Inc                          | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      5085 | NS      | $593368.65    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                          | AT&T Inc                                          | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     21643 | NS      | $626348.42    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | Invitation Homes Inc                              | CUSIP: 46187W107<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6191 | NS      | $-203064.80   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                      | Fortinet Inc                                      | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     12313 | NS      | $1301730.36   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                                  | Carlisle Cos Inc                                  | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      1224 | NS      | $457041.60    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                    | Amazon.com Inc                                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     16526 | NS      | $3625639.14   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                        | Advanced Micro Devices Inc                        | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Short            | EC               | CORP              | US        |     -1707 | NS      | $-242223.30   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC                              | Smurfit WestRock PLC                              | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Short            | EC               | CORP              | IE        |     -4877 | NS      | $-210442.55   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                             | Dell Technologies Inc                             | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Short            | EC               | CORP              | US        |     -2091 | NS      | $-256356.60   | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                 | Eversource Energy                                 | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Short            | EC               | CORP              | US        |     -3502 | NS      | $-222797.24   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                              | Parker-Hannifin Corp                              | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       967 | NS      | $675420.49    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                     | Amphenol Corp                                     | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      7220 | NS      | $712975.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                         | ONEOK Inc                                         | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Short            | EC               | CORP              | US        |     -2204 | NS      | $-179912.52   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                    | Microsoft Corp                                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     12849 | NS      | $6391221.09   | 7.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                      | Chevron Corp                                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6270 | NS      | $897801.30    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc                          | Ameriprise Financial Inc                          | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      2323 | NS      | $1239854.79   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc                         | Dick's Sporting Goods Inc                         | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Short            | EC               | CORP              | US        |     -1020 | NS      | $-201766.20   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                             | East West Bancorp Inc                             | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4298 | NS      | $434012.04    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                                | Ingersoll Rand Inc                                | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |     -2602 | NS      | $-216434.36   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc                            | Berkshire Hathaway Inc                            | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      2111 | NS      | $1025460.47   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc                           | Insight Enterprises Inc                           | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Short            | EC               | CORP              | US        |     -1361 | NS      | $-187933.69   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                       | NVIDIA Corp                                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     41877 | NS      | $6616147.23   | 7.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                       | Oracle Corp                                       | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |     -1101 | NS      | $-240711.63   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                          | Visa Inc                                          | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      7518 | NS      | $2669265.90   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                             | NXP Semiconductors NV                             | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      2765 | NS      | $604124.85    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                        | Deere & Co                                        | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1666 | NS      | $847144.34    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                                 | Hamilton Lane Inc                                 | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Short            | EC               | CORP              | US        |     -1570 | NS      | $-223128.40   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                       | Moderna Inc                                       | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Short            | EC               | CORP              | US        |     -7771 | NS      | $-214401.89   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                                 | Toll Brothers Inc                                 | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      4470 | NS      | $510161.10    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                                        | AMETEK Inc                                        | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      5929 | NS      | $1072911.84   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                | Meta Platforms Inc                                | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3105 | NS      | $2291769.45   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                       | Hubbell Inc                                       | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Short            | EC               | CORP              | US        |      -562 | NS      | $-229526.42   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder Inc                                | Light & Wonder Inc                                | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Short            | EC               | CORP              | US        |     -2257 | NS      | $-217258.82   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Dayforce Inc                                      | Dayforce Inc                                      | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Short            | EC               | CORP              | US        |     -3062 | NS      | $-169604.18   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                           | Marathon Petroleum Corp                           | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      4389 | NS      | $729056.79    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc                          | Constellation Brands Inc                          | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |     -1123 | NS      | $-182689.64   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                                     | DR Horton Inc                                     | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      3297 | NS      | $425049.24    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                        | Intuit Inc                                        | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      2000 | NS      | $1575260.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                                        | Ecolab Inc                                        | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2029 | NS      | $546693.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                                     | M&T Bank Corp                                     | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |      2166 | NS      | $420182.34    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                                 | Bloom Energy Corp                                 | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Short            | EC               | CORP              | US        |     -9846 | NS      | $-235516.32   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                    | ServiceNow Inc                                    | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       923 | NS      | $948917.84    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                      | Danaher Corp                                      | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2276 | NS      | $449601.04    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Biohaven Ltd                                      | Biohaven Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9337 | NS      | $-131745.07   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                           | Dow Inc                                           | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Short            | EC               | CORP              | US        |     -7560 | NS      | $-200188.80   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc                                 | Flowers Foods Inc                                 | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Short            | EC               | CORP              | US        |    -13463 | NS      | $-215138.74   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp                             | Northrop Grumman Corp                             | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Short            | EC               | CORP              | US        |      -447 | NS      | $-223491.06   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| The Campbell's Company                            | The Campbell's Company                            | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Short            | EC               | CORP              | US        |     -5472 | NS      | $-167716.80   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                       | CDW Corp/DE                                       | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Short            | EC               | CORP              | US        |     -1115 | NS      | $-199127.85   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                       | Trex Co Inc                                       | CUSIP: 89531P105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3533 | NS      | $-192124.54   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc                         | Caesars Entertainment Inc                         | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Short            | EC               | CORP              | US        |     -6308 | NS      | $-179084.12   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Five9 Inc                                         | Five9 Inc                                         | CUSIP: 338307101<br>LEI: 254900MXP6EWY0SFFR59 | Short            | EC               | CORP              | US        |     -5695 | NS      | $-150803.60   | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                       | Avantor Inc                                       | CUSIP: 05352A100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -11226 | NS      | $-151101.96   | -0.17%            |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technolog                    | Check Point Software Technologies Ltd             | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |      6298 | NS      | $1393432.50   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                                      | AutoZone Inc                                      | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       245 | NS      | $909496.35    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                                 | EOG Resources Inc                                 | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      5788 | NS      | $692302.68    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                       | Vaxcyte Inc                                       | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Short            | EC               | CORP              | US        |     -5879 | NS      | $-191126.29   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                      | Alphabet Inc                                      | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     18469 | NS      | $3254791.87   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc                     | Advanced Drainage Systems Inc                     | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Short            | EC               | CORP              | US        |     -1966 | NS      | $-225814.76   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                            | UnitedHealth Group Inc                            | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2724 | NS      | $849806.28    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                      | Thermo Fisher Scientific Inc                      | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1591 | NS      | $645086.86    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                            | Roper Technologies Inc                            | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       728 | NS      | $412659.52    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                         | Apple Inc                                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     15509 | NS      | $3181981.53   | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                            | IDEXX Laboratories Inc                            | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      2045 | NS      | $1096815.30   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                       | Alnylam Pharmaceuticals Inc                       | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      3706 | NS      | $1208489.54   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                                        | Alcoa Corp                                        | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Short            | EC               | CORP              | US        |     -5496 | NS      | $-162186.96   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                                 | FTAI Aviation Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -1885 | NS      | $-216850.40   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp                              | Ares Management Corp                              | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Short            | EC               | CORP              | US        |     -1362 | NS      | $-235898.40   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                     | Hilton Worldwide Holdings Inc                     | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      3425 | NS      | $912214.50    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                              | Booking Holdings Inc                              | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       220 | NS      | $1273632.80   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                                    | NRG Energy Inc                                    | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      9637 | NS      | $1547509.46   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                                          | IonQ Inc                                          | CUSIP: 46222L108<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4773 | NS      | $-205095.81   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                                        | Watsco Inc                                        | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               | CORP              | US        |      -495 | NS      | $-218601.90   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |    311601 | NS      | $311600.90    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Joby Aviation Inc                                 | Joby Aviation Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -24215 | NS      | $-255468.25   | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                                      | Entergy Corp                                      | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      7944 | NS      | $660305.28    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                                 | Lam Research Corp                                 | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     17720 | NS      | $1724864.80   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                                          | Snap Inc                                          | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Short            | EC               | CORP              | US        |    -22574 | NS      | $-196168.06   | -0.22%            |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx Inc                                       | Arcellx Inc                                       | CUSIP: 03940C100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3407 | NS      | $-224350.95   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                               | JPMorgan Chase & Co                               | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      9564 | NS      | $2772699.24   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                        | AbbVie Inc                                        | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      5361 | NS      | $995108.82    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                                         | Ball Corp                                         | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Short            | EC               | CORP              | US        |     -4033 | NS      | $-226210.97   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| C3.ai Inc                                         | C3.ai Inc                                         | CUSIP: 12468P104<br>LEI: 549300YDLK0YQO5B1V80 | Short            | EC               | CORP              | US        |     -6807 | NS      | $-167247.99   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                                | Union Pacific Corp                                | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      4839 | NS      | $1113357.12   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                               | Coinbase Global Inc                               | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Short            | EC               | CORP              | US        |      -704 | NS      | $-246744.96   | -0.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                                 | Devon Energy Corp                                 | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     20942 | NS      | $666165.02    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius XM Holdings Inc                            | Sirius XM Holdings Inc                            | CUSIP: 829933100<br>LEI: 54930055RWDMVXAGZK98 | Short            | EC               | CORP              | US        |    -10510 | NS      | $-241414.70   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                   | Caterpillar Inc                                   | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      2821 | NS      | $1095140.41   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                          | Sarepta Therapeutics Inc                          | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Short            | EC               | CORP              | US        |     -6069 | NS      | $-103779.90   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp                             | Twist Bioscience Corp                             | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Short            | EC               | CORP              | US        |     -6204 | NS      | $-228245.16   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co                                  | Genuine Parts Co                                  | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Short            | EC               | CORP              | US        |     -1729 | NS      | $-209744.99   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                             | Costco Wholesale Corp                             | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       676 | NS      | $669199.44    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                                | Home Depot Inc/The                                | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      3096 | NS      | $1135117.44   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VANECK VECTORS RUSSIA ETF                         | VANECK VECTORS RUSSIA ETF                         | CUSIP: 92189F403<br>LEI: 549300FPRVRCCMKQFC88 | Long             | EC               | RF                | US        |     81903 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Zillow Group Inc                                  | Zillow Group Inc                                  | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Short            | EC               | CORP              | US        |     -3054 | NS      | $-213932.70   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Ho                    | Knight-Swift Transportation Holdings Inc          | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4953 | NS      | $-219071.19   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                            | Arch Capital Group Ltd                            | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     10036 | NS      | $913777.80    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                    | Salesforce Inc                                    | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3589 | NS      | $978684.41    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                    | ConocoPhillips                                    | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      8682 | NS      | $779122.68    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                          | Baxter International Inc                          | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Short            | EC               | CORP              | US        |     -5961 | NS      | $-180499.08   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands Internationa                    | Restaurant Brands International Inc               | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Short            | EC               | CORP              | CA        |     -3283 | NS      | $-217630.07   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting Inc                                | FTI Consulting Inc                                | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Short            | EC               | CORP              | US        |     -1346 | NS      | $-217379.00   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                            | Trane Technologies PLC                            | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1258 | NS      | $550261.78    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                           | Bristol-Myers Squibb Co                           | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     10728 | NS      | $496599.12    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                       | Lineage Inc                                       | CUSIP: 53566V106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4787 | NS      | $-208330.24   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Brands Inc                               | BellRing Brands Inc                               | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Short            | EC               | CORP              | US        |     -3485 | NS      | $-201886.05   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Grand Vacations Inc                        | Hilton Grand Vacations Inc                        | CUSIP: 43283X105<br>LEI: 549300O9K6MFD8D07574 | Short            | EC               | CORP              | US        |     -5623 | NS      | $-233523.19   | -0.26%            |  |  |  | No            |                  1 | On Loan: No      |
| Cava Group Inc                                    | Cava Group Inc                                    | CUSIP: 148929102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -2577 | NS      | $-217060.71   | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie                    | Applied Industrial Technologies Inc               | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      4059 | NS      | $943514.55    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                 | Johnson & Johnson                                 | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      8540 | NS      | $1304485.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                        | Americold Realty Trust Inc                        | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Short            | EC               | CORP              | US        |     -9646 | NS      | $-160412.98   | -0.18%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                         | Adobe Inc                                         | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      3027 | NS      | $1171085.76   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In                    | Philip Morris International Inc                   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      8007 | NS      | $1458314.91   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                          | Procore Technologies Inc                          | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Short            | EC               | CORP              | US        |     -3243 | NS      | $-221886.06   | -0.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                        | Diageo PLC                                        | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Short            | EC               | CORP              | GB        |     -1800 | NS      | $-181512.00   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                                 | Ralph Lauren Corp                                 | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      2964 | NS      | $812965.92    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                        | Floor & Decor Holdings Inc                        | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Short            | EC               | CORP              | US        |     -2176 | NS      | $-165288.96   | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| Amentum Holdings Inc                              | Amentum Holdings Inc                              | CUSIP: 023939101<br>LEI: 2549009FJIBLW40CU216 | Short            | EC               | CORP              | US        |    -10043 | NS      | $-237115.23   | -0.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                    | Mastercard Inc                                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      3369 | NS      | $1893175.86   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                                   | Cigna Group/The                                   | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      2109 | NS      | $697193.22    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                              | Colgate-Palmolive Co                              | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     13145 | NS      | $1194880.50   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                        | LPL Financial Holdings Inc                        | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      2571 | NS      | $964047.87    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                                   | EMCOR Group Inc                                   | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      1566 | NS      | $837637.74    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                    | Morgan Stanley                                    | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      6602 | NS      | $929957.72    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Total Fund Solution

**Signature:** Brian Nelson

**Name of Signer:** Brian Nelson

**Title:** Treasurer, Principal Financial Officer