# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-009758
**Filing Date:** 2026-3
**Character Count:** 59170
**Document Hash:** 0fda03d6b45f96376c470a8c139e120a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-009758.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0000894189-26-009758

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20260430

**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:** 26811728

**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

### Aptus Large Cap Upside ETF (Series ID: S000088187)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000254245 | Aptus Large Cap Upside ETF | UPSD            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 90.6%** | **Shares** | **Value**  |
| **Basic Materials - 0.6%** | **Basic Materials - 0.6%** | |
| Linde PLC <sup>(a)</sup> | 1257 | $574411 |
| **Communications - 12.5%** | **Communications - 12.5%** |  |
| Alphabet, Inc. - Class A <sup>(a)</sup> | 4629 | 1564602 |
| Alphabet, Inc. - Class C <sup>(a)</sup> | 4560 | 1543697 |
| Amazon.com, Inc. <sup>(a)(b)</sup> | 8178 | 1956995 |
| AT&T, Inc. <sup>(a)</sup> | 33958 | 890039 |
| Cisco Systems, Inc. <sup>(a)</sup> | 7991 | 625855 |
| DoorDash, Inc. - Class A <sup>(b)</sup> | 1746 | 357267 |
| MercadoLibre, Inc. <sup>(a)(b)</sup> | 417 | 895628 |
| Meta Platforms, Inc. - Class A <sup>(a)</sup> | 1298 | 930017 |
| Motorola Solutions, Inc. <sup>(a)</sup> | 1789 | 720144 |
| Netflix, Inc. <sup>(a)(b)</sup> | 7896 | 659237 |
| Palo Alto Networks, Inc. <sup>(a)(b)</sup> | 3670 | 649480 |
| Spotify Technology SA <sup>(a)(b)</sup> | 639 | 319724 |
| T-Mobile US, Inc. | 2142 | 422424 |
| Uber Technologies, Inc. <sup>(b)</sup> | 5285 | 423064 |
|  |  | 11958173 |
| **Consumer, Cyclical - 7.2%** | **Consumer, Cyclical - 7.2%** |  |
| Chipotle Mexican Grill, Inc. <sup>(a)(b)</sup> | 10758 | 418163 |
| Costco Wholesale Corp. <sup>(a)</sup> | 727 | 683562 |
| Dollar General Corp. | 7864 | 1127934 |
| Fastenal Co. <sup>(a)</sup> | 10522 | 456234 |
| Home Depot, Inc. <sup>(a)</sup> | 1520 | 569377 |
| Live Nation Entertainment, Inc. <sup>(b)</sup> | 4721 | 686669 |
| Royal Caribbean Cruises Ltd. | 1535 | 498338 |
| TJX Cos., Inc. <sup>(a)</sup> | 5984 | 896463 |
| Warner Music Group Corp. - Class A | 24509 | 734780 |
| WW Grainger, Inc. <sup>(a)</sup> | 797 | 860712 |
|  |  | 6932232 |
| **Consumer, Non-cyclical - 25.1% <sup>(c)</sup>** | **Consumer, Non-cyclical - 25.1% <sup>(c)</sup>** |  |
| AbbVie, Inc. <sup>(a)</sup> | 3611 | 805289 |
| Altria Group, Inc. <sup>(a)</sup> | 13687 | 848457 |
| Automatic Data Processing, Inc. <sup>(a)</sup> | 2784 | 687147 |
| Bristol-Myers Squibb Co. | 11472 | 631534 |
| Cencora, Inc. <sup>(a)</sup> | 3791 | 1361803 |
| Centene Corp. <sup>(b)</sup> | 14471 | 626884 |
| Church & Dwight Co., Inc. <sup>(a)</sup> | 8830 | 849887 |
| Cigna Group | 2154 | 590433 |
| Coca-Cola Co. <sup>(a)</sup> | 12802 | 957718 |
| Colgate-Palmolive Co. <sup>(a)</sup> | 9503 | 858026 |
| Eli Lilly & Co. <sup>(a)</sup> | 801 | 830757 |
| Gilead Sciences, Inc. | 7016 | 995921 |
| Hershey Co. <sup>(a)</sup> | 4708 | 916883 |
| Johnson & Johnson <sup>(a)</sup> | 5040 | 1145340 |
| Kimberly-Clark Corp. <sup>(a)</sup> | 6619 | 661834 |
| Kroger Co. | 8443 | 530643 |
| McKesson Corp. <sup>(a)</sup> | 1530 | 1271751 |
| Merck & Co., Inc. <sup>(a)</sup> | 6420 | 707933 |
| Monster Beverage Corp. <sup>(a)(b)</sup> | 13428 | 1084445 |
| PepsiCo, Inc. <sup>(a)</sup> | 5178 | 795496 |
| Philip Morris International, Inc. <sup>(a)</sup> | 5853 | 1050262 |
| Procter & Gamble Co. <sup>(a)</sup> | 5367 | 814550 |
| Rollins, Inc. <sup>(a)</sup> | 16139 | 1022244 |
| Royalty Pharma PLC - Class A | 16378 | 682635 |
| Sysco Corp. <sup>(a)</sup> | 10927 | 916229 |
| UnitedHealth Group, Inc. <sup>(a)</sup> | 1628 | 467122 |
| Verisk Analytics, Inc. <sup>(a)</sup> | 3336 | 725447 |
| Vertex Pharmaceuticals, Inc. <sup>(a)(b)</sup> | 1651 | 775805 |
| Zimmer Biomet Holdings, Inc. | 5010 | 436221 |
|  |  | 24048696 |
| **Energy - 2.9%** | **Energy - 2.9%** |  |
| Cheniere Energy, Inc. <sup>(a)</sup> | 2718 | 574911 |
| Exxon Mobil Corp. <sup>(a)</sup> | 6279 | 887851 |
| Marathon Petroleum Corp. <sup>(a)</sup> | 4296 | 756912 |
| Williams Cos., Inc. <sup>(a)</sup> | 8219 | 552810 |
|  |  | 2772484 |
| **Financial - 13.6%** | **Financial - 13.6%** |  |
| Arch Capital Group Ltd. <sup>(a)(b)</sup> | 8053 | 773410 |
| Arthur J Gallagher & Co. <sup>(a)</sup> | 2739 | 683024 |
| Cboe Global Markets, Inc. | 4037 | 1070047 |
| Chubb Ltd. <sup>(a)</sup> | 3037 | 940134 |
| Circle Internet Group, Inc. <sup>(b)</sup> | 5554 | 355067 |
| CME Group, Inc. | 4011 | 1159420 |
| Crown Castle, Inc. | 4788 | 415646 |
| Hartford Insurance Group, Inc. <sup>(a)</sup> | 4158 | 561580 |
| Marsh & McLennan Cos., Inc. <sup>(a)</sup> | 3567 | 671274 |
| Mastercard, Inc. - Class A <sup>(a)</sup> | 1462 | 787711 |
| Progressive Corp. <sup>(a)</sup> | 3500 | 728000 |
| Rocket Cos., Inc. - Class A | 50635 | 907886 |
| Travelers Cos., Inc. <sup>(a)</sup> | 2053 | 584099 |
| Ventas, Inc. | 7684 | 596816 |
| Visa, Inc. - Class A <sup>(a)</sup> | 2328 | 749220 |
| W R Berkley Corp. <sup>(a)</sup> | 13810 | 947090 |
| Welltower, Inc. <sup>(a)</sup> | 5537 | 1042949 |
|  |  | 12973373 |
| **Industrial - 5.0%** | **Industrial - 5.0%** |  |
| General Dynamics Corp. <sup>(a)</sup> | 2510 | 881236 |
| Howmet Aerospace, Inc. | 2378 | 494814 |
| Lockheed Martin Corp. <sup>(a)</sup> | 1291 | 818778 |
| Northrop Grumman Corp. | 1238 | 857018 |
| Republic Services, Inc. <sup>(a)</sup> | 4084 | 878427 |
| Waste Management, Inc. <sup>(a)</sup> | 3903 | 867403 |
|  |  | 4797676 |
| **Technology - 20.8%** | **Technology - 20.8%** |  |
| Apple, Inc. <sup>(a)</sup> | 18270 | 4740700 |
| Broadcom, Inc. | 2468 | 817648 |
| Broadridge Financial Solutions, Inc. | 3345 | 659333 |
| Datadog, Inc. - Class A <sup>(a)(b)</sup> | 5271 | 681646 |
| Electronic Arts, Inc. | 3643 | 742880 |
| Fiserv, Inc. <sup>(a)(b)</sup> | 4300 | 274039 |
| Fortinet, Inc. <sup>(a)(b)</sup> | 7301 | 593279 |
| Leidos Holdings, Inc. <sup>(a)</sup> | 4231 | 796613 |
| Microsoft Corp. <sup>(a)</sup> | 9393 | 4041714 |
| NVIDIA Corp. <sup>(a)</sup> | 24444 | 4671982 |
| Paychex, Inc. <sup>(a)</sup> | 4653 | 479864 |
| ServiceNow, Inc. <sup>(a)(b)</sup> | 4169 | 487815 |
| Veeva Systems, Inc. - Class A <sup>(b)</sup> | 2331 | 475337 |
| Workday, Inc. - Class A <sup>(b)</sup> | 2408 | 422917 |
|  |  | 19885767 |
| **Utilities - 2.9%** | **Utilities - 2.9%** |  |
| American Water Works Co., Inc. | 3481 | 449502 |
| Consolidated Edison, Inc. | 5367 | 572283 |
| Entergy Corp. <sup>(a)</sup> | 8751 | 839133 |
| PPL Corp. | 24350 | 882688 |
|  |  | 2743606 |
| **TOTAL COMMON STOCKS** (Cost $82,452,436) | **TOTAL COMMON STOCKS** (Cost $82,452,436) | 86686418 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 4.9%** | **Shares** | **Value**  |
| First American Treasury Obligations Fund - Class X, 3.60% <sup>(d)</sup> | 4736006 | 4736006 |
| **TOTAL MONEY MARKET FUNDS** (Cost $4,736,006) | **TOTAL MONEY MARKET FUNDS** (Cost $4,736,006) | 4736006 |
| **TOTAL INVESTMENTS - 95.5% (**Cost $87,188,442**)** | **TOTAL INVESTMENTS - 95.5% (**Cost $87,188,442**)** | 91422424 |
| Other Assets in Excess of Liabilities - 4.5% | Other Assets in Excess of Liabilities - 4.5% | 4323723 |
| **TOTAL NET ASSETS - 100.0%** |  | $95746147 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

(a) All or a portion of the security has been pledged as collateral for swap contracts. The fair value of assets committed as collateral as of January 31, 2026 was $45,128,608.

(b) Non-income producing security.

(c) To the extent that the Fund invests more heavily in particular industries or sectors of the economy, its performance will be especially sensitive to developments that significantly affect those industries or
 sectors.

(d) The rate shown represents the 7-day annualized yield as of January 31, 2026.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** | **Aptus Large Cap Upside ETF** |
| **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** | **Schedule of Total Return Swap Contracts** |
| **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** |
| **Reference Entity** | **Counterparty** | **Pay/ Receive Reference Entity** | **Financing Rate** | **Payment Frequency** | **Maturity Date** | **Notional Amount** | **Notional Amount** | **Value/ Unrealized Appreciation (Depreciation)** | **Value/ Unrealized Appreciation (Depreciation)** |
| RCXTSOA6 <sup>(a)</sup> | Goldman Sachs | Receive | EFFR | Termination | 09/08/2026 | $| 51551423 | $| 3915101 |
| RCXTSOA6 <sup>(a)</sup> | Goldman Sachs | Receive | EFFR | Termination | 05/26/2027 |  | 46341923 |  | 317677 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** |  |  | 0 | $| 4232778 |
| There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. | There are no upfront payments or receipts associated with total return swaps in the Fund as of January 31, 2026. |
| EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. | EFFR - Effective Federal Funds Rate was 3.64% as of January 31, 2026. |
| (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. | (a) The Systematic Equity Futures Trend and Dynamic PutWrite Series 1 ("RCXTSOA6" or the "Index") is a rules-based strategy that follows a systematic trading strategy that will add or subtract risk based on proprietary signals. The Index generally is made up of S&P Index options and futures. As of January 31, 2026, the components of the Index are provided below. |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The underlying components of the index as of January 31, 2026 are shown below: | The underlying components of the index as of January 31, 2026 are shown below: | The underlying components of the index as of January 31, 2026 are shown below: |  |  |
| **Description** | **Expiration** <br> **Date** | **Number of** <br> **Contracts Sold** | **Notional** <br> **Amount** | **Concentration** <br> **% of Exposure** |
| **Futures Contracts:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; E-mini S&P 500 March Index | 03/20/2026 | 7019 | $48890937 | 49.94% |
| **Total Futures Contracts** |  |  | 48890937 | 49.94% |
| **Option Contracts:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6765 | 02/02/2026 | (97.12) | (115) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6795 | 02/02/2026 | (380.55) | (786) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6820 | 02/02/2026 | (341.92) | (1172) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6850 | 02/02/2026 | (1254.15) | (7654) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6765 | 02/03/2026 | (207.15) | (748) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6795 | 02/03/2026 | (134.35) | (725) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6800 | 02/03/2026 | (96.69) | (558) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6805 | 02/03/2026 | (381.21) | (2343) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6860 | 02/03/2026 | (167.28) | (2125) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6745 | 02/04/2026 | (134.42) | (666) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6775 | 02/04/2026 | (96.32) | (667) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6780 | 02/04/2026 | (207.51) | (1513) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6900 | 02/04/2026 | (167.19) | (4462) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6725 | 02/05/2026 | (96.36) | (626) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6755 | 02/05/2026 | (134.65) | (1185) | 0.00% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6940 | 02/05/2026 | (166.62) | (7798) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6730 | 02/06/2026 | (96.53) | (1042) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6920 | 02/06/2026 | (165.92) | (7723) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6920 | 02/09/2026 | (166.37) | (8553) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6970 | 02/10/2026 | (166.39) | (12385) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6975 | 02/11/2026 | (165.72) | (13375) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6960 | 02/12/2026 | (165.55) | (12861) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6925 | 02/13/2026 | (165.77) | (11142) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6940 | 02/17/2026 | (166.43) | (12824) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6940 | 02/18/2026 | (166.23) | (13317) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6800 | 02/19/2026 | (166.39) | (7678) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6875 | 02/20/2026 | (167.95) | (11226) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6910 | 02/23/2026 | (167.48) | (13387) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6920 | 02/24/2026 | (167.13) | (14365) | -0.01% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6950 | 02/25/2026 | (167.16) | (16588) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6980 | 02/26/2026 | (166.78) | (19299) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6980 | 02/27/2026 | (166.34) | (19665) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6970 | 03/02/2026 | (166.38) | (19372) | -0.02% |
| &nbsp;&nbsp;&nbsp; S&P 500 Weekly Index P6940 | 03/03/2026 | (166.54) | (17917) | -0.02% |
| **Total Options Contracts** |  |  | (265862) | -0.27% |
| **Cash** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cash |  |  | 49268271 | 50.33% |
| **Total Underlying Positions** |  |  | $97893346 | 100.00% |

---

------

#### Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
Aptus Large Cap Upside 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 January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $86686418 | $– | $– | $86686418 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 4736006 | – | – | 4736006 |
| Total Investments | $91422424 | $– | $– | $91422424 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Return Swaps\* | $– | $4232778 | $– | $4232778 |
| Total Other Financial Instruments | $– | $4232778 | $– | $4232778 |
| \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of January 31, 2026. |
| Refer to the Schedule of Investments and Schedule of Total Return Swap Contracts for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Total Return Swap Contracts for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Total Return Swap Contracts for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Total Return Swap Contracts for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Total Return Swap Contracts for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ETF Series Solutions

- **b. Investment Company Act file number:** 811-22668

- **c. CIK number of Registrant:** 0001540305

- **d. LEI of Registrant:** 5493008BB0X0GYS3UI50

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 E Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1645

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

- **a. Name of Series:** Aptus Large Cap Upside ETF

- **b. EDGAR series identifier (if any):** S000088187

- **c. LEI of Series:** 529900R6MY5A8SVRPA55

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $97096980.06

**Total Liabilities:** $1350715.12

**Net Assets:** $95746264.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254245 | 1.24%                | -0.98%               | 2.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $226388.18               | $708113.04                                 |
| Month 2  | $539748.91               | $-1712930.71                               |
| Month 3  | $0.00                    | $1243874.98                                |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |   5334486 | NS      | $5334485.83   | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv Inc                               | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      4300 | NS      | $274039.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                   | Fortinet Inc                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      7301 | NS      | $593279.26    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                       | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1520 | NS      | $569376.80    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc           | Howmet Aerospace Inc                     | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      2378 | NS      | $494814.24    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                        | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      5040 | NS      | $1145340.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp            | Kimberly-Clark Corp                      | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      6619 | NS      | $661833.81    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                            | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      8443 | NS      | $530642.55    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc            | Leidos Holdings Inc                      | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      4231 | NS      | $796612.68    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment Inc  | Live Nation Entertainment Inc            | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |      4721 | NS      | $686669.45    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                     | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      1291 | NS      | $818778.02    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp                  | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      4296 | NS      | $756912.24    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                 | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      3567 | NS      | $671273.73    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1462 | NS      | $787710.98    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                            | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      1530 | NS      | $1271751.30   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       417 | NS      | $895628.43    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                           | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      6420 | NS      | $707933.40    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      1257 | NS      | $574411.29    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1298 | NS      | $930017.00    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      9393 | NS      | $4041713.97   | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp          | Monster Beverage Corp                    | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     13428 | NS      | $1084445.28   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions Inc                   | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1789 | NS      | $720144.06    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      7896 | NS      | $659237.04    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp          | Northrop Grumman Corp                    | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      1238 | NS      | $857017.88    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     24444 | NS      | $4671981.72   | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                       | PPL Corp                                 | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     24350 | NS      | $882687.50    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                   | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      3670 | NS      | $649479.90    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                              | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      4653 | NS      | $479863.89    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      5178 | NS      | $795496.14    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In | Philip Morris International Inc          | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      5853 | NS      | $1050262.32   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The                  | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      5367 | NS      | $814549.59    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                     | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      3500 | NS      | $728000.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc          | Republic Services Inc                    | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      4084 | NS      | $878427.56    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos Inc                 | Rocket Cos Inc                           | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50635 | NS      | $907885.55    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                    | Rollins Inc                              | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     16139 | NS      | $1022244.26   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                     | Sysco Corp                               | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     10927 | NS      | $916228.95    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Cos Inc/The                          | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      5984 | NS      | $896463.04    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | RCXTSOA6 TRS 052627                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $317677.25    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | RCXTSOA6 TRS 090826                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $3915100.28   | 4.09%             |  |  |  | No            |                  2 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp                    | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      2510 | NS      | $881235.90    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      7016 | NS      | $995921.20    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/T | Hartford Insurance Group Inc/The         | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      4158 | NS      | $561579.48    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co/The                 | Hershey Co/The                           | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      4708 | NS      | $916883.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                           | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      4169 | NS      | $487814.69    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC             | Royalty Pharma PLC                       | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | US        |     16378 | NS      | $682635.04    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                    | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | SE        |       639 | NS      | $319723.65    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises Ltd              | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |      1535 | NS      | $498337.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora Inc                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      3791 | NS      | $1361803.02   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions | Broadridge Financial Solutions Inc       | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      3345 | NS      | $659332.95    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc        | Cboe Global Markets Inc                  | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |      4037 | NS      | $1070047.22   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                   | Centene Corp                             | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     14471 | NS      | $626883.72    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                      | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      2718 | NS      | $574911.36    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc               | CUSIP: 169656105<br>LEI: 529900REP5VGTPCP1J71 | Long             | EC               | CORP              | US        |     10758 | NS      | $418163.46    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc         | Church & Dwight Co Inc                   | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |      8830 | NS      | $849887.50    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The               | Coca-Cola Co/The                         | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     12802 | NS      | $957717.62    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co                     | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      9503 | NS      | $858025.87    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison Inc        | Consolidated Edison Inc                  | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      5367 | NS      | $572283.21    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                    | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       727 | NS      | $683561.75    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc               | Crown Castle Inc                         | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      4788 | NS      | $415646.28    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                    | Datadog Inc                              | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      5271 | NS      | $681645.72    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp            | Dollar General Corp                      | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      7864 | NS      | $1127933.52   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                   | DoorDash Inc                             | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      1746 | NS      | $357266.52    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc                      | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      3643 | NS      | $742880.56    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                   | Entergy Corp                             | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      8751 | NS      | $839133.39    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                         | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      6279 | NS      | $887850.60    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                              | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     10522 | NS      | $456233.92    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       801 | NS      | $830757.15    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                      | Chubb Ltd                                | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      3037 | NS      | $940133.72    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                | WW Grainger Inc                          | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       797 | NS      | $860712.18    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      2142 | NS      | $422423.82    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Cos Inc/The                    | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      2053 | NS      | $584099.03    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                    | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      5285 | NS      | $423064.25    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1628 | NS      | $467122.04    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc              | Veeva Systems Inc                        | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      2331 | NS      | $475337.52    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                     | Ventas Inc                               | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      7684 | NS      | $596816.28    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc           | Verisk Analytics Inc                     | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      3336 | NS      | $725446.56    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc           | Waste Management Inc                     | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      3903 | NS      | $867402.72    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                            | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      5537 | NS      | $1042949.32   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Cos Inc/The                     | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      8219 | NS      | $552809.94    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday Inc                              | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2408 | NS      | $422917.04    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings Inc               | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      5010 | NS      | $436220.70    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp               | W R Berkley Corp                         | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |     13810 | NS      | $947089.80    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc     | Vertex Pharmaceuticals Inc               | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1651 | NS      | $775804.90    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2328 | NS      | $749220.24    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Music Group Corp        | Warner Music Group Corp                  | CUSIP: 934550203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24509 | NS      | $734779.82    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                               | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      3611 | NS      | $805289.11    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                             | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      4560 | NS      | $1543696.80   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group/The                          | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      2154 | NS      | $590432.94    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                            | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      4011 | NS      | $1159419.66   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc      | Circle Internet Group Inc                | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |      5554 | NS      | $355067.22    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                        | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      7991 | NS      | $625855.12    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T Inc                                 | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     33958 | NS      | $890039.18    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      4629 | NS      | $1564602.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                         | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     13687 | NS      | $848457.13    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      8178 | NS      | $1956995.40   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc    | American Water Works Co Inc              | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      3481 | NS      | $449501.53    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     18270 | NS      | $4740699.60   | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing Inc            | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2784 | NS      | $687146.88    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co                  | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     11472 | NS      | $631533.60    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2468 | NS      | $817648.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co                  | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      2739 | NS      | $683024.43    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd         | Arch Capital Group Ltd                   | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |      8053 | NS      | $773410.12    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer