# EDGAR Filing Document

**Accession Number:** 0001872253
**File Stem:** 0000940400-25-009727
**Filing Date:** 2025-11
**Character Count:** 33239
**Document Hash:** 0c59e6593d0e8520b5d1d7693138ddd9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009727.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009727

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**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:** 251513039

**BUSINESS ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286
- **BUSINESS PHONE:** 703-608-3499

**MAIL ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286

## Series and Classes Contracts Data

### Cromwell CenterSquare Real Estate Fund (Series ID: S000074018)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000231344 | Investor Class      | MRESX           |
| C000234136 | Institutional Class | MRASX           |

## Nport-Ex

#### Cromwell

#### CenterSquare

#### Real

#### Estate

#### Fund

#### Schedule

#### of

#### Investments
September

30,

2025

(Unaudited)

#### Shares

#### Value

#### REAL

#### ESTATE

#### INVESTMENT

#### TRUSTS

#### -

#### 98.7%

#### Apartments

#### -

#### 11.9%
American

Homes

Rent

-

Class

A

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

40,830

$

1,357,598

Camden

Property

Trust

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

20,990

2,241,312

Elme

Communities

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

5,500

92,730

Equity

LifeStyle

Properties,

Inc.

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

18,040

1,095,028

Equity

Residential

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

20,010

1,295,247

Essex

Property

Trust,

Inc.

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

3,840

1,027,814

Invitation

Homes,

Inc.

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

45,626

1,338,211

UDR,

Inc.

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

74,880

2,790,029

11,237,969

#### Diversified

#### -

#### 26.5%
(a) American

Tower

Corp.

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

36,220

6,965,830

Broadstone

Net

Lease,

Inc.

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

44,488

795,000

Crown

Castle,

Inc.

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

9,560

922,444

Digital

Realty

Trust,

Inc.

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

25,520

4,411,898

Equinix,

Inc.

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

8,030

6,289,417

FrontView

REIT,

Inc.

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

18,790

257,611

InvenTrust

Properties

Corp.

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

2,519

72,094

Lamar

Advertising

Co.

-

Class

A

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

3,200

391,744

SBA

Communications

Corp.

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

11,960

2,312,466

VICI

Properties,

Inc.

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

37,980

1,238,528

Weyerhaeuser

Co.

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

50,949

1,263,026

24,920,058

#### Health

#### Care

#### -

#### 19.7%
Alexandria

Real

Estate

Equities,

Inc.

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

4,510

375,863

American

Healthcare

REIT,

Inc.

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

34,820

1,462,788

Diversified

Healthcare

Trust

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

20,203

89,095

Healthcare

Realty

Trust,

Inc.

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

42,770

771,143

Healthpeak

Properties,

Inc.

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

123,184

2,358,974

National

Health

Investors,

Inc.

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

11,660

926,970

Omega

Healthcare

Investors,

Inc.

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

30,800

1,300,376

Ventas,

Inc.

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

53,000

3,709,470

Welltower,

Inc.

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

42,020

7,485,443

18,480,122

#### Hotels

#### -

#### 2.5%
Apple

Hospitality

REIT,

Inc.

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

12,620

151,566

DiamondRock

Hospitality

Co.

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

75,820

603,527

Host

Hotels

&

Resorts,

Inc.

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

81,390

1,385,258

Sunstone

Hotel

Investors,

Inc.

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

18,060

169,222

2,309,573

#### Office

#### Property

#### -

#### 4.5%
BXP,

Inc.

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

13,170

979,058

Cousins

Properties,

Inc.

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

45,240

1,309,246

Douglas

Emmett,

Inc.

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

14,350

223,429

#### Cromwell

#### CenterSquare

#### Real

#### Estate

#### Fund

#### Schedule

#### of

#### Investments
(Continued)

September

30,

2025

(Unaudited)

#### Shares

#### Value

#### REAL

#### ESTATE

#### INVESTMENT

#### TRUSTS

#### -
(Continued)

#### Office

#### Property

#### -
(Continued)

Empire

State

Realty

Trust,

Inc.

-

Class

A

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

45,670

$

349,832

Hudson

Pacific

Properties,

Inc.

(b) .........................................................

39,362

108,639

Piedmont

Realty

Trust,

Inc.

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

19,163

172,467

Vornado

Realty

Trust

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

27,830

1,127,950

4,270,621

#### Regional

#### Malls

#### -

#### 3.2%
Simon

Property

Group,

Inc.

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

13,030

2,445,340

The

Macerich

Co.

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

30,940

563,108

3,008,448

#### Shopping

#### Centers

#### -

#### 8.2%
Brixmor

Property

Group,

Inc.

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

74,670

2,066,866

Federal

Realty

Investment

Trust

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

11,840

1,199,510

Kimco

Realty

Corp.

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

98,860

2,160,091

Kite

Realty

Group

Trust

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

67,660

1,508,818

NETSTREIT

Corp.

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

42,680

770,801

7,706,086

#### Single

#### Tenant

#### -

#### 4.0%
Agree

Realty

Corp.

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

28,310

2,011,143

NNN

REIT,

Inc.

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

11,330

482,318

Realty

Income

Corp.

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

20,390

1,239,508

3,732,969

#### Storage

#### -

#### 9.1%
Extra

Space

Storage,

Inc.

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

25,720

3,624,977

Iron

Mountain,

Inc.

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

22,348

2,278,155

Public

Storage

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

9,160

2,645,866

8,548,998

#### Warehouse/Industrial

#### -

#### 9.1%
Americold

Realty

Trust,

Inc.

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

29,620

362,549

EastGroup

Properties,

Inc.

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

2,300

389,298

First

Industrial

Realty

Trust,

Inc.

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

17,070

878,593

Lineage,

Inc.

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

6,410

247,682

Prologis,

Inc.

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

50,460

5,778,679

Rexford

Industrial

Realty,

Inc.

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

21,240

873,177

8,529,978

TOTAL

INVESTMENTS

-

98.7%

(Cost

$73,566,237)

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

$

92,744,822

Other

Assets

in

Excess

of

Liabilities

-

1.3%

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

1,250,957

#### TOTAL

#### NET

#### ASSETS

#### -

#### 100%

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

#### $

#### 93,995,779
Percentages

are

stated

as

a

percent

of

net

assets.

#### Cromwell

#### CenterSquare

#### Real

#### Estate

#### Fund

#### Schedule

#### of

#### Investments
(Continued)

September

30,

2025

(Unaudited)

(a) To

the

extent

that

the

Fund

invests

more

heavily

in

a

particular

industry

or

sector

of

the

economy,

its

performance

will

be

especially

sensitive

to

developments

that

significantly

affect

those

industries

or

sectors.

(b) Non-income

producing

security.

## 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 CenterSquare Real Estate Fund

- **b. EDGAR series identifier (if any):** S000074018

- **c. LEI of Series:** 549300WIERUVLR71X537

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $93455464.12

**Total Liabilities:** $158823.79

**Net Assets:** $93296640.33

**Cash Not Reported:** $257934.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234136 | -1.14%               | 3.20%                | 0.07%                |
| Class ID C000231344 | -1.23%               | 3.29%                | -0.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-116409.60              | $-1010937.34                               |
| Month 2  | $104849.62               | $2748944.44                                |
| Month 3  | $139759.42               | $-620549.24                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Brixmor Property Group Inc                        | Brixmor Property Group Inc                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     74670 | NS      | $2066865.60   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                     | Welltower Inc                                     | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     42020 | NS      | $7485442.80   | 8.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                          | Digital Realty Trust Inc                          | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     25520 | NS      | $4411897.60   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                   | Macerich Co/The                                   | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     30940 | NS      | $563108.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                                  | Elme Communities                                  | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               | CORP              | US        |      5500 | NS      | $92730.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | Vornado Realty Trust                              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27830 | NS      | $1127949.90   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                       | Equinix Inc                                       | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      8030 | NS      | $6289417.20   | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                    | NETSTREIT Corp                                    | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     42680 | NS      | $770800.80    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                           | Kite Realty Group Trust                           | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67660 | NS      | $1508818.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                               | VICI Properties Inc                               | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     37980 | NS      | $1238527.80   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                      | NNN REIT Inc                                      | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     11330 | NS      | $482318.10    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                        | InvenTrust Properties Corp                        | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |      2519 | NS      | $72093.78     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                         | Healthpeak Properties Inc                         | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    123184 | NS      | $2358973.60   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                             | American Homes 4 Rent                             | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     40830 | NS      | $1357597.50   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie                    | Alexandria Real Estate Equities Inc               | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      4510 | NS      | $375863.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                        | Apple Hospitality REIT Inc                        | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     12620 | NS      | $151566.20    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                        | DiamondRock Hospitality Co                        | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     75820 | NS      | $603527.20    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                      | Sunstone Hotel Investors Inc                      | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     18060 | NS      | $169222.20    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                           | SBA Communications Corp                           | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     11960 | NS      | $2312466.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| FrontView REIT Inc                                | FrontView REIT Inc                                | CUSIP: 35922N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18790 | NS      | $257610.90    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                      | Prologis Inc                                      | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     50460 | NS      | $5778679.20   | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | Equity Residential                                | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     20010 | NS      | $1295247.30   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                 | Iron Mountain Inc                                 | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     22348 | NS      | $2278155.12   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In                    | Equity LifeStyle Properties Inc                   | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     15660 | NS      | $950562.00    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                     | National Health Investors Inc                     | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     11660 | NS      | $926970.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                   | Weyerhaeuser Co                                   | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     50949 | NS      | $1263025.71   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                 | Agree Realty Corp                                 | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28310 | NS      | $2011142.40   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                                 | Kimco Realty Corp                                 | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     98860 | NS      | $2160091.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                        | Ventas Inc                                        | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     53000 | NS      | $3709470.00   | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                         | Piedmont Realty Trust Inc                         | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19163 | NS      | $172467.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                           | Extra Space Storage Inc                           | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25720 | NS      | $3624976.80   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trus                    | Federal Realty Investment Trust                   | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |     11840 | NS      | $1199510.40   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                     | Hudson Pacific Properties Inc                     | CUSIP: 444097109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39362 | NS      | $108639.12    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust                     | First Industrial Realty Trust Inc                 | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17070 | NS      | $878592.90    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                              | Lamar Advertising Co                              | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      3200 | NS      | $391744.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | Crown Castle Inc                                  | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      9560 | NS      | $922444.40    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                          | Simon Property Group Inc                          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     13030 | NS      | $2445340.10   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                | Douglas Emmett Inc                                | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14350 | NS      | $223429.50    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | American Tower Corp                               | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     36220 | NS      | $6965830.40   | 7.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                          | Broadstone Net Lease Inc                          | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     44488 | NS      | $795000.56    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                            | Cousins Properties Inc                            | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     45240 | NS      | $1309245.60   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                     | Empire State Realty Trust Inc                     | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |     45670 | NS      | $349832.20    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                         | Host Hotels & Resorts Inc                         | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     81390 | NS      | $1385257.80   | 1.48%             |  |  |  | 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        |    291351 | NS      | $291350.56    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Rexford Industrial Realty Inc                     | Rexford Industrial Realty Inc                     | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     21240 | NS      | $873176.40    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                             | Camden Property Trust                             | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     20990 | NS      | $2241312.20   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                       | Lineage Inc                                       | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6410 | NS      | $247682.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                           | UDR Inc                                           | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     74880 | NS      | $2790028.80   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                       | Healthcare Realty Trust Inc                       | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |     42770 | NS      | $771143.10    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                        | Americold Realty Trust Inc                        | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |     29620 | NS      | $362548.80    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                              | LXP Industrial Trust                              | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |     10715 | NS      | $96006.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                      | American Healthcare REIT Inc                      | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     34820 | NS      | $1462788.20   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                      | Diversified Healthcare Trust                      | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18818 | NS      | $82987.38     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | Invitation Homes Inc                              | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45626 | NS      | $1338210.58   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                           | BXP Inc                                           | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     13170 | NS      | $979057.80    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                          | Essex Property Trust Inc                          | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      3840 | NS      | $1027814.40   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                          | EastGroup Properties Inc                          | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      1650 | NS      | $279279.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                | Realty Income Corp                                | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     20390 | NS      | $1239508.10   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                    | Omega Healthcare Investors Inc                    | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     30800 | NS      | $1300376.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                    | Public Storage                                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      9160 | NS      | $2645866.00   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Total Fund Solution

**Signature:** Brian Nelson

**Name of Signer:** Brian Nelson

**Title:** Treasurer, Principal Financial Officer