# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-002708
**Filing Date:** 2026-1
**Character Count:** 49617
**Document Hash:** 18534c7266c46c774d04a46e006743d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002708.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000894189-26-002708

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26573020

**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

### Acquirers Small and Micro Deep Value ETF (Series ID: S000046243)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000144551 | Acquirers Small and Micro Deep Value ETF | DEEP            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Acquirers Small and Micro Deep Value ETF** | **Acquirers Small and Micro Deep Value ETF** | **Acquirers Small and Micro Deep Value ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.4%** | **Shares** | **Value**  |
| **Communication Services - 6.3%** | **Communication Services - 6.3%** | |
| AMC Networks, Inc. - Class A <sup>(a)</sup> | 30665 | $273532 |
| Gambling.com Group Ltd. <sup>(a)</sup> | 31185 | 176819 |
| IDT Corp. - Class B | 3849 | 191565 |
| Perion Network Ltd. <sup>(a)</sup> | 26205 | 267815 |
| Playtika Holding Corp. | 74879 | 303260 |
| Shutterstock, Inc. | 11865 | 247029 |
| Thryv Holdings, Inc. <sup>(a)</sup> | 21201 | 119361 |
|  |  | 1579381 |
| **Consumer Discretionary - 23.6%** | **Consumer Discretionary - 23.6%** |  |
| Build-A-Bear Workshop, Inc. | 3526 | 187231 |
| Carter's, Inc. | 8238 | 262875 |
| Century Communities, Inc. | 3900 | 254631 |
| Cricut, Inc. - Class A | 37714 | 178764 |
| Ethan Allen Interiors, Inc. | 8804 | 208127 |
| G-III Apparel Group Ltd. <sup>(a)</sup> | 9780 | 285087 |
| Helen of Troy Ltd. <sup>(a)</sup> | 11382 | 215689 |
| Hovnanian Enterprises, Inc. - Class A <sup>(a)</sup> | 1790 | 235528 |
| JAKKS Pacific, Inc. | 14310 | 235113 |
| Legacy Housing Corp. <sup>(a)</sup> | 9464 | 188618 |
| Malibu Boats, Inc. - Class A <sup>(a)</sup> | 8030 | 227972 |
| MasterCraft Boat Holdings, Inc. <sup>(a)</sup> | 11876 | 219468 |
| Movado Group, Inc. | 13216 | 276743 |
| Nathan's Famous, Inc. | 2502 | 230835 |
| Papa John's International, Inc. | 5422 | 228104 |
| Perdoceo Education Corp. | 7373 | 206149 |
| Shoe Carnival, Inc. | 11474 | 189550 |
| Smith & Wesson Brands, Inc. | 27461 | 239185 |
| Steven Madden Ltd. | 8045 | 336120 |
| Sturm Ruger & Co., Inc. | 6483 | 195268 |
| Target Hospitality Corp. <sup>(a)</sup> | 29745 | 232011 |
| Upbound Group, Inc. | 9699 | 173806 |
| Winnebago Industries, Inc. | 7780 | 281558 |
| WW International, Inc. <sup>(a)</sup> | 8652 | 245457 |
| XPEL, Inc. <sup>(a)</sup> | 7778 | 361521 |
|  |  | 5895410 |
| **Consumer Staples - 7.8%** | **Consumer Staples - 7.8%** |  |
| Herbalife Ltd. <sup>(a)</sup> | 28213 | 359151 |
| Ingles Markets, Inc. - Class A | 3711 | 285450 |
| John B Sanfilippo & Son, Inc. | 4074 | 295895 |
| Medifast, Inc. <sup>(a)</sup> | 17950 | 196912 |
| MGP Ingredients, Inc. | 9520 | 217151 |
| Nu Skin Enterprises, Inc. - Class A | 21306 | 210716 |
| Olaplex Holdings, Inc. <sup>(a)</sup> | 181398 | 206794 |
| USANA Health Sciences, Inc. <sup>(a)</sup> | 8662 | 171941 |
|  |  | 1944010 |
| **Energy - 13.1%** | **Energy - 13.1%** |  |
| Amplify Energy Corp. <sup>(a)</sup> | 57625 | 316937 |
| Ardmore Shipping Corp. | 20267 | 247865 |
| Berry Corp. | 66048 | 223903 |
| Geopark Ltd. | 43147 | 352080 |
| International Seaways, Inc. | 5411 | 286621 |
| Liberty Energy, Inc. | 23524 | 418257 |
| Peabody Energy Corp. | 11338 | 308847 |
| Riley Exploration Permian, Inc. | 9670 | 264861 |
| SandRidge Energy, Inc. | 22897 | 323764 |
| Teekay Tankers Ltd. | 4818 | 277854 |
| TORM PLC - Class A | 11413 | 244352 |
|  |  | 3265341 |
| **Financials - 6.5%** | **Financials - 6.5%** |  |
| Acadian Asset Management, Inc. | 5272 | 236396 |
| Diamond Hill Investment Group, Inc. | 1836 | 216648 |
| Donnelley Financial Solutions, Inc. <sup>(a)</sup> | 4847 | 237794 |
| International General Insurance Holdings Ltd. | 10747 | 258465 |
| PROG Holdings, Inc. | 7256 | 208828 |
| Regional Management Corp. | 5828 | 221697 |
| World Acceptance Corp. <sup>(a)</sup> | 1497 | 231526 |
|  |  | 1611354 |
| **Health Care - 11.4%** | **Health Care - 11.4%** |  |
| AMN Healthcare Services, Inc. <sup>(a)</sup> | 13761 | 229121 |
| Amphastar Pharmaceuticals, Inc. <sup>(a)</sup> | 9320 | 258164 |
| Cross Country Healthcare, Inc. <sup>(a)</sup> | 19025 | 195196 |
| Harmony Biosciences Holdings, Inc. <sup>(a)</sup> | 7916 | 279356 |
| Inmode Ltd. <sup>(a)</sup> | 17523 | 249703 |
| Innoviva, Inc. <sup>(a)</sup> | 13424 | 291703 |
| Ironwood Pharmaceuticals, Inc. <sup>(a)</sup> | 182684 | 639394 |
| National Research Corp. | 17404 | 295694 |
| SIGA Technologies, Inc. | 29338 | 177788 |
| Utah Medical Products, Inc. | 4143 | 233458 |
|  |  | 2849577 |
| **Industrials - 16.9%** | **Industrials - 16.9%** |  |
| Atkore International Group, Inc. | 4273 | 286077 |
| BlueLinx Holdings, Inc. <sup>(a)</sup> | 3395 | 211814 |
| Danaos Corp. | 2782 | 272080 |
| Franklin Covey Co. <sup>(a)</sup> | 13043 | 205036 |
| Genco Shipping & Trading Ltd. | 13768 | 260491 |
| Global Industrial Co. | 7146 | 204661 |
| Global Ship Lease, Inc. - Class A | 8085 | 283864 |
| Hudson Technologies, Inc. <sup>(a)</sup> | 26124 | 177643 |
| Insteel Industries, Inc. | 6691 | 204611 |
| Janus International Group, Inc. <sup>(a)</sup> | 25328 | 157287 |
| Karat Packaging, Inc. | 10680 | 235387 |
| Kforce, Inc. | 8567 | 251870 |
| Lindsay Corp. | 1854 | 213080 |
| Omega Flex, Inc. | 7621 | 206529 |
| RCM Technologies, Inc. <sup>(a)</sup> | 9401 | 184072 |
| Resources Connection, Inc. | 48785 | 235876 |
| Star Bulk Carriers Corp. | 13076 | 260212 |
| ZIM Integrated Shipping Services Ltd. | 17925 | 365849 |
|  |  | 4216439 |
| **Information Technology - 7.5%** | **Information Technology - 7.5%** |  |
| AudioCodes, Ltd. | 25403 | 228627 |
| Consensus Cloud Solutions, Inc. <sup>(a)</sup> | 8891 | 194180 |
| CPI Card Group, Inc. <sup>(a)</sup> | 16492 | 222807 |
| Daktronics, Inc. <sup>(a)</sup> | 11634 | 220232 |
| Hackett Group, Inc. | 12996 | 240036 |
| Ituran Location and Control Ltd. | 7222 | 289169 |
| NVE Corp. | 3895 | 249046 |
| Photronics, Inc. <sup>(a)</sup> | 10329 | 236637 |
|  |  | 1880734 |
| **Materials - 4.5%** | **Materials - 4.5%** |  |
| Alpha Metallurgical Resources, Inc. <sup>(a)</sup> | 1552 | 247094 |
| Ferroglobe PLC | 61476 | 272339 |
| Olympic Steel, Inc. | 7978 | 310264 |
| Sylvamo Corp. | 5888 | 278915 |
|  |  | 1108612 |
| **Real Estate - 1.8%** | **Real Estate - 1.8%** |  |
| RE/MAX Holdings, Inc. - Class A <sup>(a)</sup> | 26365 | 216720 |
| RMR Group, Inc. - Class A | 15546 | 237077 |
|  |  | 453797 |
| **TOTAL COMMON STOCKS** (Cost $26,444,275) | **TOTAL COMMON STOCKS** (Cost $26,444,275) | 24804655 |
| **CONTINGENT VALUE RIGHTS - 0.0% <sup>(b)</sup>** | **Shares** | **Value**  |
| **Materials *-* 0.0%<sup>(b)</sup>** | **Materials *-* 0.0%<sup>(b)</sup>** |  |
| Resolute Forest Products, Inc. <sup>(a)(c)</sup> | 17062 | 171 |
| **TOTAL CONTINGENT VALUE RIGHTS** (Cost $46,067) | **TOTAL CONTINGENT VALUE RIGHTS** (Cost $46,067) | 171 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.4%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 3.92% <sup>(d)</sup> | 87457 | 87457 |
| **TOTAL MONEY MARKET FUNDS** (Cost $87,457) | **TOTAL MONEY MARKET FUNDS** (Cost $87,457) | 87457 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $26,577,799**)** | **TOTAL INVESTMENTS - 99.8% (**Cost $26,577,799**)** | 24892283 |
| Other Assets in Excess of Liabilities - 0.2% | Other Assets in Excess of Liabilities - 0.2% | 43308 |
| **TOTAL NET ASSETS - 100.0%** |  | $24935591 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

PLC - Public Limited Company<br>

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $171 or
 0.0% of net assets as of November 30, 2025.

(d) The rate shown represents the 7-day annualized yield as of November 30, 2025.

------

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Acquirers Small and Micro Deep Value 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 | $24804655 | $– | $– | $24804655 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Contingent Value Rights | – | – | 171 | 171 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 87457 | – | – | 87457 |
| Total Investments | $24892112 | $– | $171 | $24892283 |
| 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. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

## 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:** Acquirers Small and Micro Deep Value ETF

- **b. EDGAR series identifier (if any):** S000046243

- **c. LEI of Series:** 549300F4XPMKEHF8KP37

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

- **a. Date of fiscal year-end:** 2026-08-31

- **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:** $24951308.78

**Total Liabilities:** $15718.46

**Net Assets:** $24935590.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144551 | 0.16%                | -3.29%               | 1.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $511836.43               | $-476756.66                                |
| Month 2  | $173473.29               | $-1052738.33                               |
| Month 3  | $0.00                    | $333510.79                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PROG Holdings Inc              | PROG Holdings Inc                            | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      7256 | NS      | $208827.68    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| RE/MAX Holdings Inc            | RE/MAX Holdings Inc                          | CUSIP: 75524W108<br>LEI: 54930033W2KS56JHAN30 | Long             | EC               | CORP              | US        |     26365 | NS      | $216720.30    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc       | Resources Connection Inc                     | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48785 | NS      | $235875.48    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| World Acceptance Corp          | World Acceptance Corp                        | CUSIP: 981419104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1497 | NS      | $231526.02    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| XPEL Inc                       | XPEL Inc                                     | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Long             | EC               | CORP              | US        |      7778 | NS      | $361521.44    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Metallurgical Resources  | Alpha Metallurgical Resources Inc            | CUSIP: 020764106<br>LEI: 254900VEBGZO2PY8R678 | Long             | EC               | CORP              | US        |      1552 | NS      | $247093.92    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| TORM PLC                       | TORM PLC                                     | CUSIP: N/A<br>LEI: 213800VL1H1ABVM1ZF63       | Long             | EC               | CORP              | GB        |     11413 | NS      | $244352.33    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Karat Packaging Inc            | Karat Packaging Inc                          | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |     10680 | NS      | $235387.20    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Medifast Inc                   | Medifast Inc                                 | CUSIP: 58470H101<br>LEI: 5299000YHQJ21T5KKI80 | Long             | EC               | CORP              | US        |     17950 | NS      | $196911.50    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc               | Movado Group Inc                             | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     13216 | NS      | $276743.04    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises Inc        | Nu Skin Enterprises Inc                      | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |     21306 | NS      | $210716.34    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc               | Shutterstock Inc                             | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     11865 | NS      | $247029.30    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc  | Janus International Group Inc                | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25328 | NS      | $157286.88    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc            | MGP Ingredients Inc                          | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |      9520 | NS      | $217151.20    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| National Research Corp         | National Research Corp                       | CUSIP: 637372202<br>LEI: 549300FQIORB6GZCYT15 | Long             | EC               | CORP              | US        |     17404 | NS      | $295693.96    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympic Steel Inc              | Olympic Steel Inc                            | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |      7978 | NS      | $310264.42    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AudioCodes Ltd                 | AudioCodes Ltd                               | CUSIP: N/A<br>LEI: 529900TA48138NEVR854       | Long             | EC               | CORP              | IL        |     25403 | NS      | $228627.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp       | Regional Management Corp                     | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |      5828 | NS      | $221697.12    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Corp                     | Berry Corp                                   | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66048 | NS      | $223902.72    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc        | Century Communities Inc                      | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      3900 | NS      | $254631.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc   | Cross Country Healthcare Inc                 | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     19025 | NS      | $195196.50    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Hill Investment Group  | Diamond Hill Investment Group Inc            | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |      1836 | NS      | $216648.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Hovnanian Enterprises Inc      | Hovnanian Enterprises Inc                    | CUSIP: 442487401<br>LEI: 549300805N4EF0ROBT53 | Long             | EC               | CORP              | US        |      1790 | NS      | $235528.20    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindsay Corp                   | Lindsay Corp                                 | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |      1854 | NS      | $213080.22    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Playtika Holding Corp          | Playtika Holding Corp                        | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |     74879 | NS      | $303259.95    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferroglobe PLC                 | Ferroglobe PLC                               | CUSIP: N/A<br>LEI: 2138005GCFJACFTZUD90       | Long             | EC               | CORP              | GB        |     61476 | NS      | $272338.68    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd                  | Herbalife Ltd                                | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | US        |     28213 | NS      | $359151.49    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Perion Network Ltd             | Perion Network Ltd                           | CUSIP: N/A<br>LEI: 529900SL7HYNVD6HG708       | Long             | EC               | CORP              | IL        |     26205 | NS      | $267815.10    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc    | AMN Healthcare Services Inc                  | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     13761 | NS      | $229120.65    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cricut Inc                     | Cricut Inc                                   | CUSIP: 22658D100<br>LEI: 254900R3DKAJ28MC0Q39 | Long             | EC               | CORP              | US        |     37714 | NS      | $178764.36    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The          | Hackett Group Inc/The                        | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     12996 | NS      | $240036.12    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc   | Ironwood Pharmaceuticals Inc                 | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |    182684 | NS      | $639394.00    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| JAKKS Pacific Inc              | JAKKS Pacific Inc                            | CUSIP: 47012E403<br>LEI: 549300UEF3348JRXQ295 | Long             | EC               | CORP              | US        |     14310 | NS      | $235113.30    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc             | Liberty Energy Inc                           | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23524 | NS      | $418256.72    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                       | NVE Corp                                     | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |      3895 | NS      | $249046.30    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nathan's Famous Inc            | Nathan's Famous Inc                          | CUSIP: 632347100<br>LEI: 54930034SKNSF1JIE673 | Long             | EC               | CORP              | US        |      2502 | NS      | $230834.52    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Flex Inc                 | Omega Flex Inc                               | CUSIP: 682095104<br>LEI: 254900V3UM4PIXLDNU54 | Long             | EC               | CORP              | US        |      7621 | NS      | $206529.10    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc  | Papa John's International Inc                | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |      5422 | NS      | $228103.54    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Perdoceo Education Corp        | Perdoceo Education Corp                      | CUSIP: 71363P106<br>LEI: 529900X5PCA184O9LY90 | Long             | EC               | CORP              | US        |      7373 | NS      | $206149.08    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                               | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     10329 | NS      | $236637.39    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| RCM Technologies Inc           | RCM Technologies Inc                         | CUSIP: 749360400<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9401 | NS      | $184071.58    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Wesson Brands Inc      | Smith & Wesson Brands Inc                    | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |     27461 | NS      | $239185.31    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIM Integrated Shipping Servic | ZIM Integrated Shipping Services Ltd         | CUSIP: N/A<br>LEI: 21380089EIJRELKAIL21       | Long             | EC               | CORP              | IL        |     17925 | NS      | $365849.25    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd              | Steven Madden Ltd                            | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |      8045 | NS      | $336120.10    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Thryv Holdings Inc             | Thryv Holdings Inc                           | CUSIP: 886029206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21201 | NS      | $119361.63    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc       | Winnebago Industries Inc                     | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |      7780 | NS      | $281558.20    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd             | Teekay Tankers Ltd                           | CUSIP: N/A<br>LEI: 549300DE8ZAIYS2T6Q22       | Long             | EC               | CORP              | CA        |      4818 | NS      | $277854.06    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                     | Atkore Inc                                   | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |      4273 | NS      | $286077.35    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI Card Group Inc             | CPI Card Group Inc                           | CUSIP: 12634H200<br>LEI: 54930087HHJ1VWIJK062 | Long             | EC               | CORP              | US        |     16492 | NS      | $222806.92    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd        | G-III Apparel Group Ltd                      | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |      9780 | NS      | $285087.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Industrial Co           | Global Industrial Co                         | CUSIP: 37892E102<br>LEI: 5493000GO8Z3HEWCGE46 | Long             | EC               | CORP              | US        |      7146 | NS      | $204661.44    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp            | Legacy Housing Corp                          | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9464 | NS      | $188617.52    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Olaplex Holdings Inc           | Olaplex Holdings Inc                         | CUSIP: 679369108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    181398 | NS      | $206793.72    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp            | Peabody Energy Corp                          | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     11338 | NS      | $308847.12    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| RESOLUTE FOREST PRODUCTS       | RESOLUTE FOREST PRODUCTS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17062 | NS      | $170.62       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WW International Inc           | WW International Inc                         | CUSIP: 98262P200<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |      8652 | NS      | $245457.24    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Gambling.com Group Ltd         | Gambling.com Group Ltd                       | CUSIP: N/A<br>LEI: 254900PUNXQ3N26IMU63       | Long             | EC               | CORP              | JE        |     31185 | NS      | $176818.95    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ituran Location and Control Lt | Ituran Location and Control Ltd              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      7222 | NS      | $289168.88    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardmore Shipping Corp          | Ardmore Shipping Corp                        | CUSIP: N/A<br>LEI: 549300J8HD7K6BHD8O28       | Long             | EC               | CORP              | IE        |     20267 | NS      | $247865.41    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc      | International Seaways Inc                    | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |      5411 | NS      | $286620.67    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                   | Carter's Inc                                 | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      8238 | NS      | $262874.58    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund     | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |     87457 | NS      | $87456.55     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                       | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      6691 | NS      | $204610.78    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                     | Kforce Inc                                   | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |      8567 | NS      | $251869.80    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc               | Malibu Boats Inc                             | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8030 | NS      | $227971.70    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The              | RMR Group Inc/The                            | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |     15546 | NS      | $237076.50    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc      | Utah Medical Products Inc                    | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |      4143 | NS      | $233458.05    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insuranc | International General Insurance Holdings Ltd | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JO        |     10747 | NS      | $258465.35    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                     | Inmode Ltd                                   | CUSIP: N/A<br>LEI: 984500DD95A35E9BD358       | Long             | EC               | CORP              | IL        |     17523 | NS      | $249702.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Bulk Carriers Corp        | Star Bulk Carriers Corp                      | CUSIP: N/A<br>LEI: 549300SO3FMK7H6DDY54       | Long             | EC               | CORP              | GR        |     13076 | NS      | $260212.40    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplify Energy Corp            | Amplify Energy Corp                          | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Long             | EC               | CORP              | US        |     57625 | NS      | $316937.50    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Build-A-Bear Workshop Inc      | Build-A-Bear Workshop Inc                    | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |      3526 | NS      | $187230.60    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc  | Consensus Cloud Solutions Inc                | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8891 | NS      | $194179.44    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaos Corp                    | Danaos Corp                                  | CUSIP: N/A<br>LEI: 734IM3DNDNT36T7YTD24       | Long             | EC               | CORP              | GR        |      2782 | NS      | $272079.60    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Genco Shipping & Trading Ltd   | Genco Shipping & Trading Ltd                 | CUSIP: N/A<br>LEI: 5493003MBZ5GU8QHXZ58       | Long             | EC               | CORP              | US        |     13768 | NS      | $260490.56    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMC Networks Inc               | AMC Networks Inc                             | CUSIP: 00164V103<br>LEI: 549300VGG9K75226LR46 | Long             | EC               | CORP              | US        |     30665 | NS      | $273531.80    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc  | Amphastar Pharmaceuticals Inc                | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |      9320 | NS      | $258164.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc          | BlueLinx Holdings Inc                        | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      3395 | NS      | $211814.05    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc   | Acadian Asset Management Inc                 | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |      5272 | NS      | $236396.48    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Daktronics Inc                 | Daktronics Inc                               | CUSIP: 234264109<br>LEI: 549300IOLZ3SG5YUJ288 | Long             | EC               | CORP              | US        |     11634 | NS      | $220231.62    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions  | Donnelley Financial Solutions Inc            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      4847 | NS      | $237793.82    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc      | Ethan Allen Interiors Inc                    | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8804 | NS      | $208126.56    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co              | Franklin Covey Co                            | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13043 | NS      | $205035.96    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings I | Harmony Biosciences Holdings Inc             | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7916 | NS      | $279355.64    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp                       | IDT Corp                                     | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |      3849 | NS      | $191564.73    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Riley Exploration Permian Inc  | Riley Exploration Permian Inc                | CUSIP: 76665T102<br>LEI: 5493008CUBI02XP43Q95 | Long             | EC               | CORP              | US        |      9670 | NS      | $264861.30    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc              | Shoe Carnival Inc                            | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11474 | NS      | $189550.48    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp                   | Sylvamo Corp                                 | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |      5888 | NS      | $278914.56    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Geopark Ltd                    | Geopark Ltd                                  | CUSIP: N/A<br>LEI: 529900ZR5QI19AH4KZ07       | Long             | EC               | CORP              | CO        |     43147 | NS      | $352079.52    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets Inc             | Ingles Markets Inc                           | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |      3711 | NS      | $285450.12    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                   | Innoviva Inc                                 | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     13424 | NS      | $291703.52    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCraft Boat Holdings Inc  | MasterCraft Boat Holdings Inc                | CUSIP: 57637H103<br>LEI: 549300IXWX41555YJ117 | Long             | EC               | CORP              | US        |     11876 | NS      | $219468.48    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc              | Upbound Group Inc                            | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |      9699 | NS      | $173806.08    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| SandRidge Energy Inc           | SandRidge Energy Inc                         | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |     22897 | NS      | $323763.58    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies Inc          | SIGA Technologies Inc                        | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29338 | NS      | $177788.28    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Sturm Ruger & Co Inc           | Sturm Ruger & Co Inc                         | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |      6483 | NS      | $195267.96    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Hospitality Corp        | Target Hospitality Corp                      | CUSIP: 87615L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29745 | NS      | $232011.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences Inc      | USANA Health Sciences Inc                    | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |      8662 | NS      | $171940.70    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Technologies Inc        | Hudson Technologies Inc                      | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26124 | NS      | $177643.20    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| John B Sanfilippo & Son Inc    | John B Sanfilippo & Son Inc                  | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |      4074 | NS      | $295894.62    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Helen of Troy Ltd              | Helen of Troy Ltd                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     11382 | NS      | $215688.90    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Ship Lease Inc          | Global Ship Lease Inc                        | CUSIP: N/A<br>LEI: 254900GLZ0J5N8UZM071       | Long             | EC               | CORP              | GB        |      8085 | NS      | $283864.35    | 1.14%             |  |  |  | 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