# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-005920
**Filing Date:** 2025-8
**Character Count:** 19064
**Document Hash:** bad1066449bb17a3097aaabaa02a2601
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-005920.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0000894189-25-005920

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**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:** 251258219

**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

### Bahl & Gaynor Small Cap Dividend ETF (Series ID: S000089193)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000255707 | Bahl & Gaynor Small Cap Dividend ETF | SCDV            |

## 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:** Bahl & Gaynor Small Cap Dividend ETF

- **b. EDGAR series identifier (if any):** S000089193

- **c. LEI of Series:** 5299003YU3Y52B8BIR71

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $110535629.50

**Total Liabilities:** $212655.93

**Net Assets:** $110322973.57

**Cash Not Reported:** $49172.35

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255707 | -0.26%               | 8.39%                | 2.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-18.90                  | $-149002.69                                |
| Month 2  | $861108.10               | $7225987.11                                |
| Month 3  | $1666658.76              | $684594.36                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAON Inc                       | AAON Inc                            | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38504 | NS      | $2839670.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                      | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     20443 | NS      | $3197898.49   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                      | Enpro Inc                           | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     20927 | NS      | $4008566.85   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc          | Gildan Activewear Inc               | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |     93681 | NS      | $4612852.44   | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums Inc               | Interparfums Inc                    | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21476 | NS      | $2820013.56   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                 | MSA Safety Inc                      | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     25132 | NS      | $4210363.96   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy Inc        | US Physical Therapy Inc             | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |     38238 | NS      | $2990211.60   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                   | Evercore Inc                        | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     18683 | NS      | $5044783.66   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp            | Federal Signal Corp                 | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     51561 | NS      | $5487121.62   | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity Inc                  | Insperity Inc                       | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |     10973 | NS      | $659696.76    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products Inc     | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      5052 | NS      | $910976.64    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group Inc           | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      7198 | NS      | $3483112.20   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                      | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     11482 | NS      | $2603313.86   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     62000 | PA      | $61475.05     | 0.06%             | 2025-09-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Victory Capital Holdings Inc   | Victory Capital Holdings Inc        | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     74177 | NS      | $4722849.59   | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group Inc/O | American Financial Group Inc/OH     | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      8521 | NS      | $1075435.41   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc          | LeMaitre Vascular Inc               | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |     33341 | NS      | $2768970.05   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc             | UFP Industries Inc                  | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     12450 | NS      | $1237032.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     25000 | PA      | $24933.56     | 0.02%             | 2025-07-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PG6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     16000 | PA      | $15944.71     | 0.01%             | 2025-07-31      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $39721.60     | 0.04%             | 2025-08-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     36000 | PA      | $35640.09     | 0.03%             | 2025-09-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Power Integrations Inc         | Power Integrations Inc              | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     18347 | NS      | $1025597.30   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     13000 | PA      | $12920.65     | 0.01%             | 2025-08-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Perrigo Co PLC                 | Perrigo Co PLC                      | CUSIP: N/A<br>LEI: 549300IFOQS6R1QLY196       | Long             | EC               | CORP              | IE        |     78094 | NS      | $2086671.68   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group Inc/The                | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     48628 | NS      | $7501355.28   | 6.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     31686 | NS      | $4564685.16   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp            | Terreno Realty Corp                 | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31778 | NS      | $1781792.46   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                 | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     16845 | NS      | $3156921.45   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      7000 | PA      | $6969.46      | 0.01%             | 2025-08-07      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      5000 | PA      | $4990.81      | 0.00%             | 2025-07-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     48000 | PA      | $47556.23     | 0.04%             | 2025-09-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Universal Display Corp         | Universal Display Corp              | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10024 | NS      | $1548307.04   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The               | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     49213 | NS      | $2754943.74   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      4881 | NS      | $1134588.45   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                   | Balchem Corp                        | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     11473 | NS      | $1826501.60   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                    | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20640 | NS      | $2268542.40   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The           | Marzetti Company/The                | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     16190 | NS      | $2797146.30   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech Inc                      | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |    128213 | NS      | $4610539.48   | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands Inc                 | Utz Brands Inc                      | CUSIP: 918090101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    187406 | NS      | $2351945.30   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                   | Winmark Corp                        | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1518 | NS      | $573211.98    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp                         | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |     10068 | NS      | $4902411.24   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp      | Chesapeake Utilities Corp           | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     28963 | NS      | $3481931.86   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                 | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     13969 | NS      | $6824554.95   | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Innospec Inc                   | Innospec Inc                        | CUSIP: 45768S105<br>LEI: 213800SQBACNY5IWJO68 | Long             | EC               | CORP              | US        |     16107 | NS      | $1354437.63   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp                 | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     13370 | NS      | $895388.90    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     37000 | PA      | $36716.16     | 0.03%             | 2025-09-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-22

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer