# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0001193125-26-247232
**Filing Date:** 2026-5
**Character Count:** 41860
**Document Hash:** c80686837c914000332ab9b36b35d79a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-247232.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001193125-26-247232

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**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:** 261041319

**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

### Defiance Quantum ETF (Series ID: S000062478)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000202668 | Defiance Quantum ETF | QTUM            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Defiance Quantum ETF** | **Defiance Quantum ETF** | **Defiance Quantum ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 99.8%** | **Shares**  | **Value**  |
| **Communication Services - 6.8%** | **Communication Services - 6.8%** | |
| Alphabet, Inc. - Class A | 131394 | $37783659 |
| Baidu, Inc. - ADR <sup>(a)(b)</sup> | 333732 | 37184419 |
| Koninklijke KPN NV | 9297679 | 51453799 |
| NTT, Inc. | 42283631 | 41781299 |
| Orange SA | 2644703 | 53860036 |
|  |  | 222063212 |
| **Consumer Discretionary - 1.0%** | **Consumer Discretionary - 1.0%** |  |
| Alibaba Group Holding Ltd. - ADR | 264901 | 33234480 |
| **Health Care - 0.9%** | **Health Care - 0.9%** |  |
| RadNet, Inc. <sup>(a)</sup> | 545474 | 30486542 |
| **Industrials - 12.3%** | **Industrials - 12.3%** |  |
| ABB Ltd. | 573937 | 45169281 |
| Airbus SE | 186279 | 34517097 |
| Booz Allen Hamilton Holding Corp. | 452306 | 35293437 |
| Hitachi Ltd. | 1346925 | 37794162 |
| Honeywell International, Inc. | 219051 | 49512098 |
| Lockheed Martin Corp. | 89909 | 54340101 |
| Mitsubishi Electric Corp. | 1419011 | 44490709 |
| Northrop Grumman Corp. | 75730 | 51666035 |
| RTX Corp. | 240808 | 46451863 |
|  |  | 399234783 |
| **Information Technology - 78.8% <sup>(c)</sup>** | **Information Technology - 78.8% <sup>(c)</sup>** |  |
| Accenture PLC - Class A | 154530 | 30641754 |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 189988 | 38649259 |
| Alchip Technologies Ltd. | 365102 | 28379057 |
| Analog Devices, Inc. | 149409 | 47532979 |
| Applied Materials, Inc. | 152905 | 52261400 |
| ARM Holdings PLC - ADR <sup>(a)(b)</sup> | 297285 | 44973275 |
| Arqit Quantum, Inc. <sup>(a)(b)</sup> | 1452311 | 19243121 |
| ASM International NV | 65829 | 48315558 |
| ASML Holding NV | 37572 | 49626225 |
| Astera Labs, Inc. <sup>(a)</sup> | 256056 | 28063738 |
| Asustek Computer, Inc. | 2183316 | 37492664 |
| Broadcom, Inc. | 101858 | 31526069 |
| BTQ Technologies Corp. <sup>(a)(b)</sup> | 6336470 | 16918375 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | 124436 | 34577031 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 332893 | 48142986 |
| Cisco Systems, Inc. | 524288 | 40679506 |
| Cloudflare, Inc. - Class A <sup>(a)</sup> | 197088 | 40667138 |
| Coherent Corp. <sup>(a)</sup> | 225685 | 53760424 |
| CoreWeave, Inc. - Class A <sup>(a)(b)</sup> | 477246 | 36972248 |
| D-Wave Quantum, Inc. <sup>(a)(b)</sup> | 1569923 | 22653989 |
| Elastic NV <sup>(a)</sup> | 533462 | 26667765 |
| Fujitsu Ltd. | 1604530 | 31991760 |
| Global Unichip Corp. | 607991 | 41172991 |
| Hewlett Packard Enterprise Co. | 1665647 | 39659055 |
| Hon Hai Precision Industry Co. Ltd. | 5615000 | 32931264 |
| Infineon Technologies AG | 984452 | 43103095 |
| Intel Corp. <sup>(a)</sup> | 1031720 | 45529804 |
| International Business Machines Corp. | 134558 | 32615514 |
| IonQ, Inc. <sup>(a)(b)</sup> | 814266 | 23475289 |
| KLA Corp. | 33943 | 49978013 |
| Lam Research Corp. | 250046 | 53424828 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 536587 | 49773810 |
| Marvell Technology, Inc. | 454984 | 45066165 |
| MediaTek, Inc. | 881284 | 41073292 |
| Microchip Technology, Inc. | 619646 | 40035328 |
| Micron Technology, Inc. | 159544 | 53900345 |
| Microsoft Corp. | 87892 | 32534982 |
| MKS, Inc. | 250616 | 57594063 |
| MongoDB, Inc. <sup>(a)</sup> | 98437 | 24094424 |
| NEC Corp. | 1178305 | 28485518 |
| Nokia Oyj - ADR <sup>(b)</sup> | 6764329 | 54385205 |
| Nutanix, Inc. - Class A <sup>(a)</sup> | 878534 | 33393077 |
| NVE Corp. | 580495 | 38022422 |
| NVIDIA Corp. | 228916 | 39922950 |
| NXP Semiconductors NV | 182301 | 35887775 |
| ON Semiconductor Corp. <sup>(a)</sup> | 763577 | 47280688 |
| Onto Innovation, Inc. <sup>(a)</sup> | 249860 | 51238790 |
| Oracle Corp. | 188641 | 27750977 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 223892 | 32750922 |
| QUALCOMM, Inc. | 230882 | 29732984 |
| Quantum Computing, Inc. <sup>(a)(b)</sup> | 3349847 | 22946452 |
| Quantum Emotion Corp. <sup>(a)(b)</sup> | 19624021 | 44716697 |
| Renesas Electronics Corp. | 3005558 | 40646540 |
| Reply SpA | 307812 | 28639036 |
| Rigetti Computing, Inc. <sup>(a)(b)</sup> | 1610798 | 22615604 |
| Salesforce, Inc. | 159233 | 29724024 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 194263 | 29298746 |
| STMicroelectronics NV | 1598559 | 55230213 |
| Synopsys, Inc. <sup>(a)</sup> | 88402 | 35049625 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 135662 | 45846973 |
| Teradata Corp. <sup>(a)(b)</sup> | 1328943 | 34060809 |
| Teradyne, Inc. | 206219 | 61135685 |
| Texas Instruments, Inc. | 231596 | 44962047 |
| Tokyo Electron Ltd. | 198300 | 46405865 |
| Tower Semiconductor Ltd. <sup>(a)</sup> | 332568 | 58359033 |
| Wipro Ltd. - ADR <sup>(b)</sup> | 14558569 | 30864166 |
|  |  | 2565051406 |
| **TOTAL COMMON STOCKS** (Cost $3,006,213,986) | **TOTAL COMMON STOCKS** (Cost $3,006,213,986) | 3250070423 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 4.7%** | **Units**  | **Value**  |
| Mount Vernon Liquid Assets Portfolio, LLC, 3.78% <sup>(d)</sup> | 153064395 | 153064395 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $153,064,395) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $153,064,395) | 153064395 |
| **MONEY MARKET FUNDS - 0.1%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.58% <sup>(d)</sup> | 1856079 | 1856079 |
| **TOTAL MONEY MARKET FUNDS** (Cost $1,856,079) | **TOTAL MONEY MARKET FUNDS** (Cost $1,856,079) | 1856079 |
| **TOTAL INVESTMENTS - 104.6% (**Cost $3,161,134,460**)** | **TOTAL INVESTMENTS - 104.6% (**Cost $3,161,134,460**)** | 3404990897 |
| Liabilities in Excess of Other Assets - (4.6)% | Liabilities in Excess of Other Assets - (4.6)% | (150086666) |
| **TOTAL NET ASSETS - 100.0%** |  | $3254904231 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| LLC - Limited Liability Company |
| PLC - Public Limited Company |
| 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. |

---

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $159,664,003.

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

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

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Defiance Quantum 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 March 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 | $3250070423 | $– | $– | $3250070423 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 153064395 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1856079 | – | – | 1856079 |
| Total Investments | $3251926502 | $– | $– | $3404990897 |
| 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. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of
 $153,064,395 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## 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:** Defiance Quantum ETF

- **b. EDGAR series identifier (if any):** S000062478

- **c. LEI of Series:** 5493007JFTRI1DSFM452

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $3414260886.89

**Total Liabilities:** $159371686.28

**Net Assets:** $3254889200.61

**Cash Not Reported:** $5744478.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000202668 | 5.90%                | 0.59%                | -8.50%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5128.68                | $183726533.89                              |
| Month 2  | $4010511.15              | $15470489.76                               |
| Month 3  | $29839245.52             | $-342118325.07                             |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BTQ Technologies Corp                     | BTQ Technologies Corp                      | CUSIP: 055869101<br>LEI: 9845009I0C867C156D63 | Long             | EC               | CORP              | CA        |   6336470 | NS      | $16918374.90  | 0.52%             |  |  |  | No            | 1                  | On Loan: —       |
| Broadcom Inc                              | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    101858 | NS      | $31526069.58  | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Cadence Design Systems Inc                | Cadence Design Systems Inc                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |    124436 | NS      | $34577031.32  | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Cirrus Logic Inc                          | Cirrus Logic Inc                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |    332893 | NS      | $48142985.66  | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                                  | KLA Corp                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     33943 | NS      | $49978012.63  | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    250046 | NS      | $53424828.36  | 1.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Lattice Semiconductor Corp                | Lattice Semiconductor Corp                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |    536587 | NS      | $49773810.12  | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Koninklijke KPN NV                        | Koninklijke KPN NV                         | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   9297679 | NS      | $51453799.10  | 1.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Hewlett Packard Enterprise Co             | Hewlett Packard Enterprise Co              | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |   1665647 | NS      | $39659055.07  | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Hitachi Ltd                               | Hitachi Ltd                                | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |   1346925 | NS      | $37794161.80  | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Hon Hai Precision Industry Co             | Hon Hai Precision Industry Co Ltd          | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |   5615000 | NS      | $32931263.68  | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Unichip Corp                       | Global Unichip Corp                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    607991 | NS      | $41172990.77  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Cisco Systems Inc                         | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    524288 | NS      | $40679505.92  | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                            | Cloudflare Inc                             | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |    197088 | NS      | $40667137.92  | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                             | Coherent Corp                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    225685 | NS      | $53760423.85  | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| CoreWeave Inc                             | CoreWeave Inc                              | CUSIP: 21873S108<br>LEI: 984500511DP2B6186053 | Long             | EC               | CORP              | US        |    477246 | NS      | $36972247.62  | 1.14%             |  |  |  | No            | 1                  | On Loan: —       |
| D-Wave Quantum Inc                        | D-Wave Quantum Inc                         | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Long             | EC               | CORP              | US        |   1569923 | NS      | $22653988.89  | 0.70%             |  |  |  | No            | 1                  | On Loan: —       |
| First American Government Obli            | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1856079 | NS      | $1856078.68   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Fujitsu Ltd                               | Fujitsu Ltd                                | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |   1604530 | NS      | $31991760.39  | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Renesas Electronics Corp                  | Renesas Electronics Corp                   | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |   3005558 | NS      | $40646539.93  | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Tokyo Electron Ltd                        | Tokyo Electron Ltd                         | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |    198300 | NS      | $46405864.60  | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc                              | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    230882 | NS      | $29732983.96  | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Quantum Computing Inc                     | Quantum Computing Inc                      | CUSIP: 74766W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3349847 | NS      | $22946451.95  | 0.70%             |  |  |  | No            | 1                  | On Loan: —       |
| RadNet Inc                                | RadNet Inc                                 | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |    545474 | NS      | $30486541.86  | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| RTX Corp                                  | RTX Corp                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    240808 | NS      | $46451863.20  | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Rigetti Computing Inc                     | Rigetti Computing Inc                      | CUSIP: 76655K103<br>LEI: 52990024JHY459DH8W71 | Long             | EC               | CORP              | US        |   1610798 | NS      | $22615603.92  | 0.69%             |  |  |  | No            | 1                  | On Loan: —       |
| Salesforce Inc                            | Salesforce Inc                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    159233 | NS      | $29724024.11  | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                             | Snowflake Inc                              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |    194263 | NS      | $29298745.66  | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| STMicroelectronics NV                     | STMicroelectronics NV                      | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | CH        |   1598559 | NS      | $55230213.45  | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                              | Synopsys Inc                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     88402 | NS      | $35049624.96  | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| TSMC                                      | Taiwan Semiconductor Manufacturing Co Ltd  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    135662 | NS      | $45846972.90  | 1.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradata Corp                             | Teradata Corp                              | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |   1328943 | NS      | $34060809.09  | 1.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Teradyne Inc                              | Teradyne Inc                               | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |    206219 | NS      | $61135684.74  | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Instruments Inc                     | Texas Instruments Inc                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    231596 | NS      | $44962047.44  | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Wipro Ltd                                 | Wipro Ltd                                  | CUSIP: 97651M109<br>LEI: 335800IFS1IJHESG8362 | Long             | EC               | CORP              | IN        |  14558569 | NS      | $30864166.28  | 0.95%             |  |  |  | No            | 1                  | On Loan: —       |
| Quantum Emotion Corp                      | Quantum Emotion Corp                       | CUSIP: 74767K103<br>LEI: 984500T1YCBEAFFA0495 | Long             | EC               | CORP              | CA        |  19624021 | NS      | $44716697.20  | 1.37%             |  |  |  | No            | 1                  | On Loan: —       |
| Reply SpA                                 | Reply SpA                                  | CUSIP: N/A<br>LEI: 815600DAEFB0388F3521       | Long             | EC               | CORP              | IT        |    307812 | NS      | $28639035.60  | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Tower Semiconductor Ltd                   | Tower Semiconductor Ltd                    | CUSIP: N/A<br>LEI: 54930086ZSNXZOUX0C54       | Long             | EC               | CORP              | IL        |    332568 | NS      | $58359032.64  | 1.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Elastic NV                                | Elastic NV                                 | CUSIP: N/A<br>LEI: 2549003I48WHHH937I59       | Long             | EC               | CORP              | US        |    533462 | NS      | $26667765.38  | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Orange SA                                 | Orange SA                                  | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |   2644703 | NS      | $53860036.32  | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Onto Innovation Inc                       | Onto Innovation Inc                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |    249860 | NS      | $51238790.20  | 1.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                               | Oracle Corp                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    188641 | NS      | $27750977.51  | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc                 | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    223892 | NS      | $32750921.76  | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Honeywell International Inc               | Honeywell International Inc                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    219051 | NS      | $49512097.53  | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Intel Corp                                | Intel Corp                                 | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |   1031720 | NS      | $45529803.60  | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| IBM                                       | International Business Machines Corp       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    134558 | NS      | $32615513.62  | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| IonQ Inc                                  | IonQ Inc                                   | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |    814266 | NS      | $23475288.78  | 0.72%             |  |  |  | No            | 1                  | On Loan: —       |
| Infineon Technologies AG                  | Infineon Technologies AG                   | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |    984452 | NS      | $43103094.83  | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc                | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    189988 | NS      | $38649258.84  | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Alibaba Group Holding Ltd                 | Alibaba Group Holding Ltd                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |    264901 | NS      | $33234479.46  | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    131394 | NS      | $37783658.64  | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc                        | Analog Devices Inc                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |    149409 | NS      | $47532979.26  | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Materials Inc                     | Applied Materials Inc                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    152905 | NS      | $52261399.95  | 1.61%             |  |  |  | No            | 1                  | On Loan: No      |
| ARM Holdings PLC                          | ARM Holdings PLC                           | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |    297285 | NS      | $44973274.80  | 1.38%             |  |  |  | No            | 1                  | On Loan: —       |
| Astera Labs Inc                           | Astera Labs Inc                            | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |    256056 | NS      | $28063737.60  | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                 | Baidu Inc                                  | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |    333732 | NS      | $37184419.44  | 1.14%             |  |  |  | No            | 1                  | On Loan: —       |
| Booz Allen Hamilton Holding Co            | Booz Allen Hamilton Holding Corp           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |    452306 | NS      | $35293437.18  | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbus SE                                 | Airbus SE                                  | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |    186279 | NS      | $34517097.34  | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| ASM International NV                      | ASM International NV                       | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |     65829 | NS      | $48315558.24  | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Asustek Computer Inc                      | Asustek Computer Inc                       | CUSIP: N/A<br>LEI: 254900B3WB4OGRB7HM13       | Long             | EC               | CORP              | TW        |   2183316 | NS      | $37492664.50  | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| ABB Ltd                                   | ABB Ltd                                    | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |    573937 | NS      | $45169281.16  | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Alchip Technologies Ltd                   | Alchip Technologies Ltd                    | CUSIP: N/A<br>LEI: 529900HKE9RIY07SLX84       | Long             | EC               | CORP              | TW        |    365102 | NS      | $28379057.55  | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Arqit Quantum Inc                         | Arqit Quantum Inc                          | CUSIP: N/A<br>LEI: 254900G93Z1SN49J9J68       | Long             | EC               | CORP              | GB        |   1452311 | NS      | $19243120.75  | 0.59%             |  |  |  | No            | 1                  | On Loan: —       |
| Accenture PLC                             | Accenture PLC                              | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |    154530 | NS      | $30641753.70  | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     37572 | NS      | $49626224.76  | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Lockheed Martin Corp                      | Lockheed Martin Corp                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     89909 | NS      | $54340100.51  | 1.67%             |  |  |  | No            | 1                  | On Loan: No      |
| MKS Inc                                   | MKS Inc                                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |    250616 | NS      | $57594062.96  | 1.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                    | Marvell Technology Inc                     | CUSIP: 573874104<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | EC               | CORP              | US        |    454984 | NS      | $45066165.20  | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     87892 | NS      | $32534981.64  | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Microchip Technology Inc                  | Microchip Technology Inc                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    619646 | NS      | $40035328.06  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                     | Micron Technology Inc                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    159544 | NS      | $53900344.96  | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| MongoDB Inc                               | MongoDB Inc                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     98437 | NS      | $24094424.49  | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| NVE Corp                                  | NVE Corp                                   | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |    580495 | NS      | $38022422.50  | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| MediaTek Inc                              | MediaTek Inc                               | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    881284 | NS      | $41073292.46  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Nokia Oyj                                 | Nokia Oyj                                  | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |   6764329 | NS      | $54385205.16  | 1.67%             |  |  |  | No            | 1                  | On Loan: —       |
| Mitsubishi Electric Corp                  | Mitsubishi Electric Corp                   | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |   1419011 | NS      | $44490708.83  | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| NEC Corp                                  | NEC Corp                                   | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |   1178305 | NS      | $28485517.82  | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| NTT Inc                                   | NTT Inc                                    | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |  42283631 | NS      | $41781298.59  | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Northrop Grumman Corp                     | Northrop Grumman Corp                      | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     75730 | NS      | $51666035.20  | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Nutanix Inc                               | Nutanix Inc                                | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |    878534 | NS      | $33393077.34  | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp                               | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    228916 | NS      | $39922950.40  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| ON Semiconductor Corp                     | ON Semiconductor Corp                      | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    763577 | NS      | $47280687.84  | 1.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        | 153064396 | NS      | $153064395.51 | 4.70%             |  |  |  | No            | N/A                | On Loan: No      |
| NXP Semiconductors NV                     | NXP Semiconductors NV                      | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |    182301 | NS      | $35887774.86  | 1.10%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer