# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-002977
**Filing Date:** 2026-1
**Character Count:** 55341
**Document Hash:** 2636b968b713fbefcccb85750523b85c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002977.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000894189-26-002977

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Series Solutions
- **CENTRAL INDEX KEY:** 0001540305

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1112

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22668
- **FILM NUMBER:** 26577570

**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

### Vident U.S. Equity Strategy ETF (Series ID: S000043147)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000133545 | Vident U.S. Equity Strategy ETF | VUSE            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Vident U.S. Equity Strategy ETF<sup>TM</sup>** | **Vident U.S. Equity Strategy ETF<sup>TM</sup>** | **Vident U.S. Equity Strategy ETF<sup>TM</sup>** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.9%** | **Shares** | **Value**  |
| **Communication Services - 9.1%** | **Communication Services - 9.1%** | |
| Alphabet, Inc. - Class A | 60710 | $19438128 |
| Cargurus, Inc. <sup>(a)</sup> | 115175 | 4063374 |
| Electronic Arts, Inc. | 18274 | 3691896 |
| Fox Corp. - Class A | 10643 | 697117 |
| Meta Platforms, Inc. - Class A | 20845 | 13506518 |
| Netflix, Inc. <sup>(a)</sup> | 49780 | 5355332 |
| New York Times Co. - Class A | 52882 | 3410889 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 40468 | 1057024 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 17909 | 3876761 |
| T-Mobile US, Inc. | 5522 | 1154153 |
| Yelp, Inc. <sup>(a)</sup> | 100026 | 2891752 |
|  |  | 59142944 |
| **Consumer Discretionary - 10.8%** | **Consumer Discretionary - 10.8%** |  |
| Abercrombie & Fitch Co. - Class A <sup>(a)</sup> | 32498 | 3180579 |
| Adtalem Global Education, Inc. <sup>(a)</sup> | 28917 | 2676558 |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 5715 | 668598 |
| Amazon.com, Inc. <sup>(a)</sup> | 54984 | 12823368 |
| Booking Holdings, Inc. | 1378 | 6772443 |
| Chewy, Inc. - Class A <sup>(a)</sup> | 55088 | 1915410 |
| Deckers Outdoor Corp. <sup>(a)</sup> | 27653 | 2434294 |
| DoorDash, Inc. - Class A <sup>(a)</sup> | 11893 | 2359214 |
| eBay, Inc. | 33219 | 2750201 |
| Grand Canyon Education, Inc. <sup>(a)</sup> | 19275 | 3040439 |
| Home Depot, Inc. | 30857 | 11013480 |
| Laureate Education, Inc. <sup>(a)</sup> | 144689 | 4470890 |
| Monarch Casino & Resort, Inc. | 24710 | 2386492 |
| Royal Caribbean Cruises Ltd. | 17253 | 4593611 |
| Strategic Education, Inc. | 25165 | 1963373 |
| TJX Cos., Inc. | 46003 | 6988776 |
|  |  | 70037726 |
| **Consumer Staples - 6.5%** | **Consumer Staples - 6.5%** |  |
| Altria Group, Inc. | 94622 | 5583644 |
| Colgate-Palmolive Co. | 74728 | 6007384 |
| Costco Wholesale Corp. | 13359 | 12204649 |
| Walmart, Inc. | 163655 | 18085514 |
|  |  | 41881191 |
| **Energy - 2.2%** | **Energy - 2.2%** |  |
| Exxon Mobil Corp. | 54433 | 6309873 |
| International Seaways, Inc. | 71093 | 3765796 |
| TechnipFMC PLC | 86726 | 3925219 |
|  |  | 14000888 |
| **Financials - 14.5%** | **Financials - 14.5%** |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 25549 | 13127332 |
| Dave, Inc. <sup>(a)</sup> | 3897 | 850559 |
| Erie Indemnity Co. - Class A | 8980 | 2653500 |
| Federated Hermes, Inc. | 53656 | 2691921 |
| JPMorgan Chase & Co. | 42121 | 13187243 |
| MarketAxess Holdings, Inc. | 16566 | 2715002 |
| Mastercard, Inc. - Class A | 21256 | 11702066 |
| Moody's Corp. | 12296 | 6034631 |
| Morningstar, Inc. | 12079 | 2595294 |
| Paymentus Holdings, Inc. - Class A <sup>(a)</sup> | 102685 | 3565223 |
| Progressive Corp. | 24805 | 5675136 |
| Robinhood Markets, Inc. - Class A <sup>(a)</sup> | 56091 | 7207132 |
| SEI Investments Co. | 37413 | 3025215 |
| Sezzle, Inc. <sup>(a)</sup> | 42161 | 2603442 |
| Toast, Inc. - Class A <sup>(a)</sup> | 34438 | 1177435 |
| Visa, Inc. - Class A | 44761 | 14969869 |
|  |  | 93781000 |
| **Health Care - 11.5%** | **Health Care - 11.5%** |  |
| AbbVie, Inc. | 60354 | 13742606 |
| ADMA Biologics, Inc. <sup>(a)</sup> | 197631 | 3790563 |
| Doximity, Inc. - Class A <sup>(a)</sup> | 15851 | 815376 |
| Eli Lilly & Co. | 17086 | 18375480 |
| Exelixis, Inc. <sup>(a)</sup> | 102498 | 4527337 |
| Gilead Sciences, Inc. | 68493 | 8619159 |
| Incyte Corp. <sup>(a)</sup> | 37427 | 3909624 |
| Johnson & Johnson | 71252 | 14743464 |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 19553 | 1151085 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 1544 | 914758 |
| Zoetis, Inc. | 29267 | 3751444 |
|  |  | 74340896 |
| **Industrials - 11.2%** | **Industrials - 11.2%** |  |
| Armstrong World Industries, Inc. | 15914 | 3019522 |
| Automatic Data Processing, Inc. | 20721 | 5290071 |
| Blue Bird Corp. <sup>(a)</sup> | 45549 | 2378569 |
| Carlisle Cos., Inc. | 3713 | 1180994 |
| Caterpillar, Inc. | 14580 | 8394581 |
| Cintas Corp. | 21273 | 3957204 |
| Comfort Systems USA, Inc. | 4445 | 4342498 |
| Crane Co. | 16067 | 2944278 |
| ExlService Holdings, Inc. <sup>(a)</sup> | 51511 | 2046532 |
| IES Holdings, Inc. <sup>(a)</sup> | 9430 | 3947115 |
| Illinois Tool Works, Inc. | 23617 | 5887246 |
| Parker-Hannifin Corp. | 1822 | 1570017 |
| Paycom Software, Inc. | 14956 | 2410459 |
| REV Group, Inc. | 72679 | 3871610 |
| Sterling Infrastructure, Inc. <sup>(a)</sup> | 13415 | 4618919 |
| TransDigm Group, Inc. | 4449 | 6051396 |
| Uber Technologies, Inc. <sup>(a)</sup> | 63214 | 5533754 |
| Valmont Industries, Inc. | 8357 | 3451190 |
| Verisk Analytics, Inc. | 6303 | 1418616 |
|  |  | 72314571 |
| **Information Technology - 28.9% <sup>(b)</sup>** | **Information Technology - 28.9% <sup>(b)</sup>** |  |
| Adobe, Inc. <sup>(a)</sup> | 17717 | 5671743 |
| Appfolio, Inc. - Class A <sup>(a)</sup> | 5330 | 1216733 |
| Apple, Inc. | 54840 | 15292134 |
| AppLovin Corp. - Class A <sup>(a)</sup> | 6305 | 3779721 |
| Autodesk, Inc. <sup>(a)</sup> | 22244 | 6747495 |
| Badger Meter, Inc. | 18249 | 3258177 |
| Broadcom, Inc. | 52747 | 21254931 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 26933 | 3241117 |
| Clear Secure, Inc. - Class A | 108050 | 3835775 |
| Docusign, Inc. <sup>(a)</sup> | 30963 | 2147284 |
| Dolby Laboratories, Inc. - Class A | 35514 | 2395419 |
| F5, Inc. <sup>(a)</sup> | 12453 | 2978260 |
| Fair Isaac Corp. <sup>(a)</sup> | 2768 | 4998538 |
| Fortinet, Inc. <sup>(a)</sup> | 101217 | 8211735 |
| HubSpot, Inc. <sup>(a)</sup> | 8598 | 3158217 |
| InterDigital, Inc. | 14727 | 5268584 |
| Intuit, Inc. | 4739 | 3004905 |
| Lam Research Corp. | 60674 | 9465144 |
| LiveRamp Holdings, Inc. <sup>(a)</sup> | 53932 | 1555938 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 3379 | 596225 |
| Microsoft Corp. | 25049 | 12324359 |
| Motorola Solutions, Inc. | 13801 | 5101954 |
| NVIDIA Corp. | 69178 | 12244506 |
| Onto Innovation, Inc. <sup>(a)</sup> | 28871 | 4133172 |
| Oracle Corp. | 53679 | 10840474 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 18394 | 3098469 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 10038 | 1908525 |
| Pegasystems, Inc. | 64605 | 3538416 |
| Qualys, Inc. <sup>(a)</sup> | 19725 | 2778266 |
| Rambus, Inc. <sup>(a)</sup> | 34567 | 3303568 |
| Salesforce, Inc. | 25792 | 5946088 |
| ServiceNow, Inc. <sup>(a)</sup> | 9090 | 7384807 |
| Twilio, Inc. - Class A <sup>(a)</sup> | 38362 | 4975168 |
| Ubiquiti, Inc. | 1971 | 1149270 |
|  |  | 186805117 |
| **Materials - 2.8%** | **Materials - 2.8%** |  |
| Ecolab, Inc. | 22519 | 6196328 |
| Royal Gold, Inc. | 16434 | 3349907 |
| Sherwin-Williams Co. | 17158 | 5897033 |
| United States Lime & Minerals, Inc. | 21239 | 2582025 |
|  |  | 18025293 |
| **Real Estate - 1.1%** | **Real Estate - 1.1%** |  |
| American Tower Corp. | 27433 | 4972780 |
| Zillow Group, Inc. - Class C <sup>(a)</sup> | 26200 | 1948756 |
|  |  | 6921536 |
| **Utilities - 1.3%** | **Utilities - 1.3%** |  |
| Constellation Energy Corp. | 13223 | 4817932 |
| Vistra Corp. | 20141 | 3602419 |
|  |  | 8420351 |
| **TOTAL COMMON STOCKS** (Cost $541,552,598) | **TOTAL COMMON STOCKS** (Cost $541,552,598) | 645671513 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $541,552,598**)** | **TOTAL INVESTMENTS - 99.9% (**Cost $541,552,598**)** | 645671513 |
| Other Assets in Excess of Liabilities - 0.1% | Other Assets in Excess of Liabilities - 0.1% | 556861 |
| **TOTAL NET ASSETS - 100.0%** |  | $646228374 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

PLC - Public Limited Company<br>

(a) Non-income producing security.

(b) 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.

------

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Vident U.S. Equity Strategy ETF<sup>TM</sup> (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $645671513 | $– | $– | $645671513 |
| Total Investments | $645671513 | $– | $– | $645671513 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## 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:** Vident U.S. Equity Strategy ETF

- **b. EDGAR series identifier (if any):** S000043147

- **c. LEI of Series:** 549300AZ81M6116DZI53

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

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

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $646489273.54

**Total Liabilities:** $260885.98

**Net Assets:** $646228387.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133545 | 3.10%                | -0.76%               | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31652271.98             | $-12797245.94                              |
| Month 2  | $619.06                  | $-4672480.07                               |
| Month 3  | $396445.16               | $1407008.74                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                   | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ADMA Biologics Inc                     | ADMA Biologics Inc                     | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    197631 | NS      | $3790562.58   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc                             | AbbVie Inc                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     60354 | NS      | $13742605.80  | 2.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Abercrombie & Fitch Co                 | Abercrombie & Fitch Co                 | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |     32498 | NS      | $3180579.26   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Adobe Inc                              | Adobe Inc                              | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     17717 | NS      | $5671743.21   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Adtalem Global Education Inc           | Adtalem Global Education Inc           | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     28917 | NS      | $2676557.52   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbnb Inc                             | Airbnb Inc                             | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      5715 | NS      | $668597.85    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                           | Alphabet Inc                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     60710 | NS      | $19438127.80  | 3.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Energy Corp              | Constellation Energy Corp              | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     13223 | NS      | $4817932.28   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                     | Meta Platforms Inc                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     20845 | NS      | $13506517.75  | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Mastercard Inc                         | Mastercard Inc                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     21256 | NS      | $11702065.68  | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Medpace Holdings Inc                   | Medpace Holdings Inc                   | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1544 | NS      | $914758.24    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                         | Microsoft Corp                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     25049 | NS      | $12324358.49  | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Altria Group Inc                       | Altria Group Inc                       | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     94622 | NS      | $5583644.22   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com Inc                         | Amazon.com Inc                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     54984 | NS      | $12823368.48  | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| American Tower Corp                    | American Tower Corp                    | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     27433 | NS      | $4972779.91   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc                              | Apple Inc                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     54840 | NS      | $15292134.00  | 2.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Appfolio Inc                           | Appfolio Inc                           | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      5330 | NS      | $1216732.40   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| AppLovin Corp                          | AppLovin Corp                          | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6305 | NS      | $3779721.40   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Armstrong World Industries Inc         | Armstrong World Industries Inc         | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |     15914 | NS      | $3019522.36   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Autodesk Inc                           | Autodesk Inc                           | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     22244 | NS      | $6747494.96   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Automatic Data Processing Inc          | Automatic Data Processing Inc          | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     20721 | NS      | $5290071.30   | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Badger Meter Inc                       | Badger Meter Inc                       | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     18249 | NS      | $3258176.46   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Berkshire Hathaway Inc                 | Berkshire Hathaway Inc                 | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     25549 | NS      | $13127331.69  | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Blue Bird Corp                         | Blue Bird Corp                         | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     45549 | NS      | $2378568.78   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Booking Holdings Inc                   | Booking Holdings Inc                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1378 | NS      | $6772442.82   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                           | Broadcom Inc                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     52747 | NS      | $21254931.12  | 3.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Cargurus Inc                           | Cargurus Inc                           | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |    115175 | NS      | $4063374.00   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlisle Cos Inc                       | Carlisle Cos Inc                       | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      3713 | NS      | $1180993.91   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Caterpillar Inc                        | Caterpillar Inc                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     14580 | NS      | $8394580.80   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Chewy Inc                              | Chewy Inc                              | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     55088 | NS      | $1915409.76   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Cirrus Logic Inc                       | Cirrus Logic Inc                       | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     26933 | NS      | $3241117.22   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Cintas Corp                            | Cintas Corp                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21273 | NS      | $3957203.46   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Clear Secure Inc                       | Clear Secure Inc                       | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108050 | NS      | $3835775.00   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Colgate-Palmolive Co                   | Colgate-Palmolive Co                   | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     74728 | NS      | $6007383.92   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Comfort Systems USA Inc                | Comfort Systems USA Inc                | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      4445 | NS      | $4342498.30   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| REV Group Inc                          | REV Group Inc                          | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               | CORP              | US        |     72679 | NS      | $3871610.33   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Reddit Inc                             | Reddit Inc                             | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |     17909 | NS      | $3876761.23   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Robinhood Markets Inc                  | Robinhood Markets Inc                  | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     56091 | NS      | $7207132.59   | 1.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Royal Gold Inc                         | Royal Gold Inc                         | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     16434 | NS      | $3349906.56   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| SEI Investments Co                     | SEI Investments Co                     | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |     37413 | NS      | $3025215.18   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Sezzle Inc                             | Sezzle Inc                             | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |     42161 | NS      | $2603441.75   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc                         | Salesforce Inc                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     25792 | NS      | $5946087.68   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| ServiceNow Inc                         | ServiceNow Inc                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      9090 | NS      | $7384806.90   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Sherwin-Williams Co/The                | Sherwin-Williams Co/The                | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     17158 | NS      | $5897033.02   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Sterling Infrastructure Inc            | Sterling Infrastructure Inc            | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     13415 | NS      | $4618918.65   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Strategic Education Inc                | Strategic Education Inc                | CUSIP: 86272C103<br>LEI: 2549002UYIM8Q5EC8H36 | Long             | EC               | CORP              | US        |     25165 | NS      | $1963373.30   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| TJX Cos Inc/The                        | TJX Cos Inc/The                        | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     46003 | NS      | $6988775.76   | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| T-Mobile US Inc                        | T-Mobile US Inc                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      5522 | NS      | $1154153.22   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Uber Technologies Inc                  | Uber Technologies Inc                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     63214 | NS      | $5533753.56   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Ubiquiti Inc                           | Ubiquiti Inc                           | CUSIP: 90353W103<br>LEI: 5299007MITA4DMQCU747 | Long             | EC               | CORP              | US        |      1971 | NS      | $1149270.39   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Lime & Minerals          | United States Lime & Minerals Inc      | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |     21239 | NS      | $2582025.23   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Valmont Industries Inc                 | Valmont Industries Inc                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      8357 | NS      | $3451190.29   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Verisk Analytics Inc                   | Verisk Analytics Inc                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      6303 | NS      | $1418616.21   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Visa Inc                               | Visa Inc                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     44761 | NS      | $14969868.84  | 2.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                            | Vistra Corp                            | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     20141 | NS      | $3602419.26   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Walmart Inc                            | Walmart Inc                            | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    163655 | NS      | $18085514.05  | 2.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Yelp Inc                               | Yelp Inc                               | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |    100026 | NS      | $2891751.66   | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Zillow Group Inc                       | Zillow Group Inc                       | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |     26200 | NS      | $1948756.00   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoetis Inc                             | Zoetis Inc                             | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     29267 | NS      | $3751444.06   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| TechnipFMC PLC                         | TechnipFMC PLC                         | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |     86726 | NS      | $3925218.76   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Royal Caribbean Cruises Ltd            | Royal Caribbean Cruises Ltd            | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |     17253 | NS      | $4593611.25   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Toast Inc                              | Toast Inc                              | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     34438 | NS      | $1177435.22   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| TransDigm Group Inc                    | TransDigm Group Inc                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4449 | NS      | $6051396.33   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    458091 | NS      | $458090.92    | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| Twilio Inc                             | Twilio Inc                             | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     38362 | NS      | $4975167.78   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Fair Isaac Corp                        | Fair Isaac Corp                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      2768 | NS      | $4998537.44   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Federated Hermes Inc                   | Federated Hermes Inc                   | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     53656 | NS      | $2691921.52   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| F5 Inc                                 | F5 Inc                                 | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |     12453 | NS      | $2978259.48   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                           | Fortinet Inc                           | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    101217 | NS      | $8211735.21   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Fox Corp                               | Fox Corp                               | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     10643 | NS      | $697116.50    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Gilead Sciences Inc                    | Gilead Sciences Inc                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     68493 | NS      | $8619159.12   | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Grand Canyon Education Inc             | Grand Canyon Education Inc             | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     19275 | NS      | $3040438.50   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/The                     | Home Depot Inc/The                     | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     30857 | NS      | $11013480.44  | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| HubSpot Inc                            | HubSpot Inc                            | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      8598 | NS      | $3158217.36   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| IES Holdings Inc                       | IES Holdings Inc                       | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |      9430 | NS      | $3947115.10   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Illinois Tool Works Inc                | Illinois Tool Works Inc                | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     23617 | NS      | $5887245.76   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Incyte Corp                            | Incyte Corp                            | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     37427 | NS      | $3909624.42   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| InterDigital Inc                       | InterDigital Inc                       | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14727 | NS      | $5268584.25   | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuit Inc                             | Intuit Inc                             | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      4739 | NS      | $3004905.12   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase & Co                    | JPMorgan Chase & Co                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     42121 | NS      | $13187242.68  | 2.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson & Johnson                      | Johnson & Johnson                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     71252 | NS      | $14743463.84  | 2.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                      | Lam Research Corp                      | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     60674 | NS      | $9465144.00   | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Lantheus Holdings Inc                  | Lantheus Holdings Inc                  | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     19553 | NS      | $1151085.11   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Laureate Education Inc                 | Laureate Education Inc                 | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |    144689 | NS      | $4470890.10   | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| LiveRamp Holdings Inc                  | LiveRamp Holdings Inc                  | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     53932 | NS      | $1555938.20   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Manhattan Associates Inc               | Manhattan Associates Inc               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      3379 | NS      | $596224.55    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| MarketAxess Holdings Inc               | MarketAxess Holdings Inc               | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |     16566 | NS      | $2715001.74   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| International Seaways Inc              | International Seaways Inc              | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |     71093 | NS      | $3765796.21   | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Costco Wholesale Corp                  | Costco Wholesale Corp                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     13359 | NS      | $12204648.81  | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Crane Co                               | Crane Co                               | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     16067 | NS      | $2944277.75   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Dave Inc                               | Dave Inc                               | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3897 | NS      | $850559.22    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Deckers Outdoor Corp                   | Deckers Outdoor Corp                   | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     27653 | NS      | $2434293.59   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Docusign Inc                           | Docusign Inc                           | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     30963 | NS      | $2147284.05   | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Dolby Laboratories Inc                 | Dolby Laboratories Inc                 | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     35514 | NS      | $2395419.30   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| DoorDash Inc                           | DoorDash Inc                           | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     11893 | NS      | $2359214.41   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Doximity Inc                           | Doximity Inc                           | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15851 | NS      | $815375.44    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| eBay Inc                               | eBay Inc                               | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     33219 | NS      | $2750201.01   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Ecolab Inc                             | Ecolab Inc                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     22519 | NS      | $6196328.04   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Electronic Arts Inc                    | Electronic Arts Inc                    | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     18274 | NS      | $3691896.22   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Erie Indemnity Co                      | Erie Indemnity Co                      | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Long             | EC               | CORP              | US        |      8980 | NS      | $2653500.20   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Exelixis Inc                           | Exelixis Inc                           | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    102498 | NS      | $4527336.66   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| ExlService Holdings Inc                | ExlService Holdings Inc                | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     51511 | NS      | $2046532.03   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Exxon Mobil Corp                       | Exxon Mobil Corp                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     54433 | NS      | $6309873.36   | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Eli Lilly & Co                         | Eli Lilly & Co                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     17086 | NS      | $18375480.42  | 2.84%             |  |  |  | No            | 1                  | On Loan: No      |
| Monarch Casino & Resort Inc            | Monarch Casino & Resort Inc            | CUSIP: 609027107<br>LEI: 549300AK5FF7KY11V997 | Long             | EC               | CORP              | US        |     24710 | NS      | $2386491.80   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Moody's Corp                           | Moody's Corp                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     12296 | NS      | $6034630.88   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Morningstar Inc                        | Morningstar Inc                        | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |     12079 | NS      | $2595293.94   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorola Solutions Inc                 | Motorola Solutions Inc                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     13801 | NS      | $5101953.68   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Netflix Inc                            | Netflix Inc                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     49780 | NS      | $5355332.40   | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Times Co/The                  | New York Times Co/The                  | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     52882 | NS      | $3410889.00   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp                            | NVIDIA Corp                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     69178 | NS      | $12244506.00  | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Onto Innovation Inc                    | Onto Innovation Inc                    | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     28871 | NS      | $4133172.36   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                            | Oracle Corp                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     53679 | NS      | $10840474.05  | 1.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc              | Palantir Technologies Inc              | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     18394 | NS      | $3098469.30   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Palo Alto Networks Inc                 | Palo Alto Networks Inc                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     10038 | NS      | $1908524.94   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Parker-Hannifin Corp                   | Parker-Hannifin Corp                   | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1822 | NS      | $1570017.40   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Paycom Software Inc                    | Paycom Software Inc                    | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |     14956 | NS      | $2410458.52   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Paymentus Holdings Inc                 | Paymentus Holdings Inc                 | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    102685 | NS      | $3565223.20   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Pegasystems Inc                        | Pegasystems Inc                        | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     64605 | NS      | $3538415.85   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinterest Inc                          | Pinterest Inc                          | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40468 | NS      | $1057024.16   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Progressive Corp/The                   | Progressive Corp/The                   | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     24805 | NS      | $5675135.95   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Qualys Inc                             | Qualys Inc                             | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     19725 | NS      | $2778266.25   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Rambus Inc                             | Rambus Inc                             | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     34567 | NS      | $3303568.19   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer