# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-015985
**Filing Date:** 2025-11
**Character Count:** 71837
**Document Hash:** 946b692511662b81e2325b9c34209ed2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-015985.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000894189-25-015985

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**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:** 251529638

**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

### Point Bridge America First ETF (Series ID: S000058757)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000192803 | Point Bridge America First ETF | MAGA            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Point Bridge America First ETF** | **Point Bridge America First ETF** | **Point Bridge America First ETF** | **Point Bridge America First ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.6%** | **COMMON STOCKS - 99.6%** | **Shares** | **Value**  |
| **Aerospace/Defense - 3.4%** | **Aerospace/Defense - 3.4%** | **Aerospace/Defense - 3.4%** | |
| General Dynamics Corporation | General Dynamics Corporation | 680 | $231880 |
| HEICO Corporation | HEICO Corporation | 650 | 209833 |
| HEICO Corporation - Class A | HEICO Corporation - Class A | 821 | 208608 |
| Howmet Aerospace, Inc. | Howmet Aerospace, Inc. | 1146 | 224880 |
| L3Harris Technologies, Inc. | L3Harris Technologies, Inc. | 759 | 231806 |
|  |  |  | 1107007 |
| **Agriculture - 1.4%** | **Agriculture - 1.4%** | **Agriculture - 1.4%** |  |
| Altria Group, Inc. | Altria Group, Inc. | 3417 | 225727 |
| Archer-Daniels-Midland Company | Archer-Daniels-Midland Company | 3920 | 234181 |
|  |  |  | 459908 |
| **Airlines - 1.4%** | **Airlines - 1.4%** | **Airlines - 1.4%** |  |
| Delta Air Lines, Inc. | Delta Air Lines, Inc. | 4127 | 234207 |
| Southwest Airlines Company | Southwest Airlines Company | 7083 | 226019 |
|  |  |  | 460226 |
| **Auto Manufacturers - 1.6%** | **Auto Manufacturers - 1.6%** | **Auto Manufacturers - 1.6%** |  |
| PACCAR, Inc. | PACCAR, Inc. | 2188 | 215124 |
| Tesla, Inc. <sup>(a)</sup> | Tesla, Inc. <sup>(a)</sup> | 697 | 309970 |
|  |  |  | 525094 |
| **Banks - 4.8%** | **Banks - 4.8%** | **Banks - 4.8%** |  |
| Bank of America Corporation | Bank of America Corporation | 4623 | 238501 |
| First Citizens BancShares, Inc. - Class A | First Citizens BancShares, Inc. - Class A | 111 | 198597 |
| Goldman Sachs Group, Inc. | Goldman Sachs Group, Inc. | 298 | 237312 |
| Huntington Bancshares, Inc. | Huntington Bancshares, Inc. | 13160 | 227273 |
| PNC Financial Services Group, Inc. | PNC Financial Services Group, Inc. | 1136 | 228256 |
| Regions Financial Corporation | Regions Financial Corporation | 8481 | 223644 |
| Truist Financial Corporation | Truist Financial Corporation | 4914 | 224668 |
|  |  |  | 1578251 |
| **Beverages - 1.2%** | **Beverages - 1.2%** | **Beverages - 1.2%** |  |
| Keurig Dr Pepper, Inc. | Keurig Dr Pepper, Inc. | 6336 | 161631 |
| Monster Beverage Corporation <sup>(a)</sup> | Monster Beverage Corporation <sup>(a)</sup> | 3576 | 240701 |
|  |  |  | 402332 |
| **Biotechnology - 1.9%** | **Biotechnology - 1.9%** | **Biotechnology - 1.9%** |  |
| Amgen, Inc. | Amgen, Inc. | 712 | 200926 |
| Corteva, Inc. | Corteva, Inc. | 2965 | 200523 |
| Illumina, Inc. <sup>(a)</sup> | Illumina, Inc. <sup>(a)</sup> | 2230 | 211783 |
|  |  |  | 613232 |
| **Building Materials - 4.1%** | **Building Materials - 4.1%** | **Building Materials - 4.1%** |  |
| Builders FirstSource, Inc. <sup>(a)</sup> | Builders FirstSource, Inc. <sup>(a)</sup> | 1623 | 196789 |
| Carlisle Companies, Inc. | Carlisle Companies, Inc. | 598 | 196718 |
| CRH PLC | CRH PLC | 2217 | 265818 |
| Martin Marietta Materials, Inc. | Martin Marietta Materials, Inc. | 366 | 230683 |
| Trane Technologies PLC | Trane Technologies PLC | 481 | 202963 |
| Vulcan Materials Company | Vulcan Materials Company | 768 | 236252 |
|  |  |  | 1329223 |
| **Chemicals - 3.2%** | **Chemicals - 3.2%** | **Chemicals - 3.2%** |  |
| CF Industries Holdings, Inc. | CF Industries Holdings, Inc. | 2305 | 206758 |
| Dow, Inc. | Dow, Inc. | 9687 | 222123 |
| Ecolab, Inc. | Ecolab, Inc. | 808 | 221279 |
| LyondellBasell Industries NV - Class A | LyondellBasell Industries NV - Class A | 3951 | 193757 |
| Sherwin-Williams Company | Sherwin-Williams Company | 615 | 212950 |
|  |  |  | 1056867 |
| **Commercial Services - 3.2%** | **Commercial Services - 3.2%** | **Commercial Services - 3.2%** |  |
| Cintas Corporation | Cintas Corporation | 953 | 195613 |
| Equifax, Inc. | Equifax, Inc. | 879 | 225490 |
| Rollins, Inc. | Rollins, Inc. | 3656 | 214753 |
| TransUnion | TransUnion | 2293 | 192108 |
| United Rentals, Inc. | United Rentals, Inc. | 246 | 234846 |
|  |  |  | 1062810 |
| **Distribution/Wholesale - 1.9%** | **Distribution/Wholesale - 1.9%** | **Distribution/Wholesale - 1.9%** |  |
| Copart, Inc. <sup>(a)</sup> | Copart, Inc. <sup>(a)</sup> | 4638 | 208571 |
| Fastenal Company | Fastenal Company | 4646 | 227840 |
| Watsco, Inc. | Watsco, Inc. | 486 | 196490 |
|  |  |  | 632901 |
| **Diversified Financial Services - 4.6%** | **Diversified Financial Services - 4.6%** | **Diversified Financial Services - 4.6%** |  |
| Blue Owl Capital, Inc. | Blue Owl Capital, Inc. | 11204 | 189684 |
| Charles Schwab Corporation | Charles Schwab Corporation | 2210 | 210989 |
| Interactive Brokers Group, Inc. - Class A | Interactive Brokers Group, Inc. - Class A | 3319 | 228381 |
| Intercontinental Exchange, Inc. | Intercontinental Exchange, Inc. | 1144 | 192741 |
| Rocket Companies, Inc. - Class A | Rocket Companies, Inc. - Class A | 12766 | 247405 |
| Synchrony Financial | Synchrony Financial | 3126 | 222102 |
| T Rowe Price Group, Inc. | T Rowe Price Group, Inc. | 2049 | 210309 |
|  |  |  | 1501611 |
| **Electric - 8.5%** | **Electric - 8.5%** | **Electric - 8.5%** |  |
| Alliant Energy Corporation | Alliant Energy Corporation | 3225 | 217397 |
| Ameren Corporation | Ameren Corporation | 2067 | 215754 |
| American Electric Power Company, Inc. | American Electric Power Company, Inc. | 1859 | 209138 |
| CenterPoint Energy, Inc. | CenterPoint Energy, Inc. | 5439 | 211033 |
| Constellation Energy Corporation | Constellation Energy Corporation | 620 | 204023 |
| Dominion Energy, Inc. | Dominion Energy, Inc. | 3495 | 213789 |
| Duke Energy Corporation | Duke Energy Corporation | 1718 | 212603 |
| Entergy Corporation | Entergy Corporation | 2354 | 219369 |
| Evergy, Inc. | Evergy, Inc. | 2951 | 224335 |
| FirstEnergy Corporation | FirstEnergy Corporation | 4888 | 223968 |
| PPL Corporation | PPL Corporation | 5920 | 219987 |
| Southern Company | Southern Company | 2223 | 210674 |
| Vistra Corporation | Vistra Corporation | 1015 | 198859 |
|  |  |  | 2780929 |
| **Electronics - 1.4%** | **Electronics - 1.4%** | **Electronics - 1.4%** |  |
| Garmin, Ltd. | Garmin, Ltd. | 966 | 237849 |
| Hubbell, Inc. | Hubbell, Inc. | 495 | 213003 |
|  |  |  | 450852 |
| **Engineering & Construction - 0.7%** | **Engineering & Construction - 0.7%** | **Engineering & Construction - 0.7%** |  |
| EMCOR Group, Inc. | EMCOR Group, Inc. | 338 | 219545 |
| **Food - 1.9%** | **Food - 1.9%** | **Food - 1.9%** |  |
| Kroger Company | Kroger Company | 2959 | 199466 |
| Sysco Corporation | Sysco Corporation | 2643 | 217625 |
| Tyson Foods, Inc. - Class A | Tyson Foods, Inc. - Class A | 4018 | 218177 |
|  |  |  | 635268 |
| **Forest Products & Paper - 0.6%** | **Forest Products & Paper - 0.6%** | **Forest Products & Paper - 0.6%** |  |
| International Paper Company | International Paper Company | 4549 | 211074 |
| **Gas - 1.4%** | **Gas - 1.4%** | **Gas - 1.4%** |  |
| Atmos Energy Corporation | Atmos Energy Corporation | 1355 | 231366 |
| NiSource, Inc. | NiSource, Inc. | 4957 | 214638 |
|  |  |  | 446004 |
| **Healthcare-Products - 2.7%** | **Healthcare-Products - 2.7%** | **Healthcare-Products - 2.7%** |  |
| Abbott Laboratories | Abbott Laboratories | 1658 | 222073 |
| Baxter International, Inc. | Baxter International, Inc. | 9612 | 218865 |
| Cooper Companies, Inc. <sup>(a)</sup> | Cooper Companies, Inc. <sup>(a)</sup> | 2979 | 204240 |
| Zimmer Biomet Holdings, Inc. | Zimmer Biomet Holdings, Inc. | 2329 | 229407 |
|  |  |  | 874585 |
| **Healthcare-Services - 0.8%** | **Healthcare-Services - 0.8%** | **Healthcare-Services - 0.8%** |  |
| HCA Healthcare, Inc. | HCA Healthcare, Inc. | 591 | 251884 |
| **Home Builders - 2.8%** | **Home Builders - 2.8%** | **Home Builders - 2.8%** |  |
| DR Horton, Inc. | DR Horton, Inc. | 1405 | 238105 |
| Lennar Corporation - Class A | Lennar Corporation - Class A | 1820 | 229393 |
| Lennar Corporation - Class B | Lennar Corporation - Class B | 1895 | 227381 |
| NVR, Inc. <sup>(a)</sup> | NVR, Inc. <sup>(a)</sup> | 28 | 224971 |
|  |  |  | 919850 |
| **Household Products/Wares - 0.6%** | **Household Products/Wares - 0.6%** | **Household Products/Wares - 0.6%** |  |
| Kimberly-Clark Corporation | Kimberly-Clark Corporation | 1616 | 200933 |
| **Insurance - 4.0%** | **Insurance - 4.0%** | **Insurance - 4.0%** |  |
| Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | 446 | 224222 |
| Cincinnati Financial Corporation | Cincinnati Financial Corporation | 1444 | 228296 |
| Markel Group, Inc. <sup>(a)</sup> | Markel Group, Inc. <sup>(a)</sup> | 109 | 208338 |
| Principal Financial Group, Inc. | Principal Financial Group, Inc. | 2794 | 231651 |
| Ryan Specialty Holdings, Inc. | Ryan Specialty Holdings, Inc. | 3648 | 205601 |
| Travelers Companies, Inc. | Travelers Companies, Inc. | 817 | 228123 |
|  |  |  | 1326231 |
| **Internet - 0.9%** | **Internet - 0.9%** | **Internet - 0.9%** |  |
| Robinhood Markets, Inc. - Class A <sup>(a)</sup> | Robinhood Markets, Inc. - Class A <sup>(a)</sup> | 2113 | 302539 |
| **Iron/Steel - 2.0%** | **Iron/Steel - 2.0%** | **Iron/Steel - 2.0%** |  |
| Nucor Corporation | Nucor Corporation | 1524 | 206395 |
| Reliance, Inc. | Reliance, Inc. | 744 | 208938 |
| Steel Dynamics, Inc. | Steel Dynamics, Inc. | 1724 | 240377 |
|  |  |  | 655710 |
| **Machinery-Construction & Mining - 0.7%** | **Machinery-Construction & Mining - 0.7%** | **Machinery-Construction & Mining - 0.7%** |  |
| Caterpillar, Inc. | Caterpillar, Inc. | 493 | 235235 |
| **Machinery-Diversified - 1.3%** | **Machinery-Diversified - 1.3%** | **Machinery-Diversified - 1.3%** |  |
| Deere & Company | Deere & Company | 421 | 192506 |
| Westinghouse Air Brake Technologies Corporation | Westinghouse Air Brake Technologies Corporation | 1129 | 226331 |
|  |  |  | 418837 |
| **Miscellaneous Manufacturing - 0.6%** | **Miscellaneous Manufacturing - 0.6%** | **Miscellaneous Manufacturing - 0.6%** |  |
| Axon Enterprise, Inc. <sup>(a)</sup> | Axon Enterprise, Inc. <sup>(a)</sup> | 284 | 203810 |
| **Oil & Gas - 8.9%** | **Oil & Gas - 8.9%** | **Oil & Gas - 8.9%** |  |
| Chevron Corporation | Chevron Corporation | 1395 | 216630 |
| ConocoPhillips | ConocoPhillips | 2275 | 215192 |
| Coterra Energy, Inc. | Coterra Energy, Inc. | 8906 | 210627 |
| Devon Energy Corporation | Devon Energy Corporation | 6567 | 230239 |
| Diamondback Energy, Inc. | Diamondback Energy, Inc. | 1444 | 206636 |
| EOG Resources, Inc. | EOG Resources, Inc. | 1810 | 202937 |
| EQT Corporation | EQT Corporation | 4032 | 219462 |
| Expand Energy Corporation | Expand Energy Corporation | 2070 | 219917 |
| Exxon Mobil Corporation | Exxon Mobil Corporation | 1925 | 217044 |
| Marathon Petroleum Corporation | Marathon Petroleum Corporation | 1276 | 245936 |
| Occidental Petroleum Corporation | Occidental Petroleum Corporation | 4862 | 229729 |
| Phillips 66 | Phillips 66 | 1764 | 239939 |
| Valero Energy Corporation | Valero Energy Corporation | 1584 | 269692 |
|  |  |  | 2923980 |
| **Packaging & Containers - 1.3%** | **Packaging & Containers - 1.3%** | **Packaging & Containers - 1.3%** |  |
| Amcor PLC | Amcor PLC | 22698 | 185670 |
| Packaging Corporation of America | Packaging Corporation of America | 1102 | 240159 |
|  |  |  | 425829 |
| **Pharmaceuticals - 1.3%** | **Pharmaceuticals - 1.3%** | **Pharmaceuticals - 1.3%** |  |
| Bristol-Myers Squibb Company | Bristol-Myers Squibb Company | 4772 | 215217 |
| Eli Lilly & Company | Eli Lilly & Company | 276 | 210588 |
|  |  |  | 425805 |
| **Pipelines - 3.2%** | **Pipelines - 3.2%** | **Pipelines - 3.2%** |  |
| Cheniere Energy, Inc. | Cheniere Energy, Inc. | 886 | 208192 |
| Kinder Morgan, Inc. | Kinder Morgan, Inc. | 7511 | 212637 |
| ONEOK, Inc. | ONEOK, Inc. | 2672 | 194976 |
| Targa Resources Corporation | Targa Resources Corporation | 1295 | 216964 |
| Williams Companies, Inc. | Williams Companies, Inc. | 3503 | 221915 |
|  |  |  | 1054684 |
| **Private Equity - 0.6%** | **Private Equity - 0.6%** | **Private Equity - 0.6%** |  |
| Blackstone, Inc. | Blackstone, Inc. | 1239 | 211683 |
| **Real Estate - 0.7%** | **Real Estate - 0.7%** | **Real Estate - 0.7%** |  |
| CBRE Group, Inc. - Class A <sup>(a)</sup> | CBRE Group, Inc. - Class A <sup>(a)</sup> | 1372 | 216172 |
| **REITS - 6.5%** | **REITS - 6.5%** | **REITS - 6.5%** |  |
| Alexandria Real Estate Equities, Inc. | Alexandria Real Estate Equities, Inc. | 2778 | 231518 |
| Digital Realty Trust, Inc. | Digital Realty Trust, Inc. | 1225 | 211778 |
| Extra Space Storage, Inc. | Extra Space Storage, Inc. | 1515 | 213524 |
| Invitation Homes, Inc. | Invitation Homes, Inc. | 6957 | 204049 |
| Prologis, Inc. | Prologis, Inc. | 2012 | 230414 |
| Public Storage | Public Storage | 756 | 218371 |
| SBA Communications Corporation | SBA Communications Corporation | 924 | 178655 |
| VICI Properties, Inc. | VICI Properties, Inc. | 6376 | 207921 |
| Welltower, Inc. | Welltower, Inc. | 1270 | 226238 |
| Weyerhaeuser Company | Weyerhaeuser Company | 8416 | 208633 |
|  |  |  | 2131101 |
| **Retail - 6.6%** | **Retail - 6.6%** | **Retail - 6.6%** |  |
| AutoZone, Inc. <sup>(a)</sup> | AutoZone, Inc. <sup>(a)</sup> | 55 | 235963 |
| Dollar General Corporation | Dollar General Corporation | 1944 | 200912 |
| Dollar Tree, Inc. <sup>(a)</sup> | Dollar Tree, Inc. <sup>(a)</sup> | 1840 | 173641 |
| Ferguson Enterprises, Inc. | Ferguson Enterprises, Inc. | 951 | 213576 |
| Genuine Parts Company | Genuine Parts Company | 1646 | 228136 |
| Home Depot, Inc. | Home Depot, Inc. | 565 | 228932 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | O'Reilly Automotive, Inc. <sup>(a)</sup> | 2130 | 229635 |
| Tractor Supply Company | Tractor Supply Company | 3663 | 208315 |
| Walmart, Inc. | Walmart, Inc. | 2144 | 220961 |
| Yum! Brands, Inc. | Yum! Brands, Inc. | 1453 | 220856 |
|  |  |  | 2160927 |
| **Software - 1.7%** | **Software - 1.7%** | **Software - 1.7%** |  |
| Bentley Systems, Inc. - Class B | Bentley Systems, Inc. - Class B | 3698 | 190373 |
| Fidelity National Information Services, Inc. | Fidelity National Information Services, Inc. | 2693 | 177577 |
| Roper Technologies, Inc. | Roper Technologies, Inc. | 389 | 193990 |
|  |  |  | 561940 |
| **Telecommunications - 0.7%** | **Telecommunications - 0.7%** | **Telecommunications - 0.7%** |  |
| Motorola Solutions, Inc. | Motorola Solutions, Inc. | 484 | 221328 |
| **Transportation - 3.9%** | **Transportation - 3.9%** | **Transportation - 3.9%** |  |
| CSX Corporation | CSX Corporation | 6030 | 214125 |
| FedEx Corporation | FedEx Corporation | 972 | 229207 |
| JB Hunt Transport Services, Inc. | JB Hunt Transport Services, Inc. | 1512 | 202865 |
| Old Dominion Freight Line, Inc. | Old Dominion Freight Line, Inc. | 1488 | 209481 |
| Union Pacific Corporation | Union Pacific Corporation | 962 | 227388 |
| United Parcel Service, Inc. - Class B | United Parcel Service, Inc. - Class B | 2498 | 208658 |
|  |  |  | 1291724 |
| **Water - 0.6%** | **Water - 0.6%** | **Water - 0.6%** |  |
| American Water Works Company, Inc. | American Water Works Company, Inc. | 1449 | 201686 |
| **TOTAL COMMON STOCKS** (Cost $28,533,121) | **TOTAL COMMON STOCKS** (Cost $28,533,121) | **TOTAL COMMON STOCKS** (Cost $28,533,121) | 32689607 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.4%** | **MONEY MARKET FUNDS - 0.4%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 4.05%<sup>(b)</sup> | First American Government Obligations Fund - Class X, 4.05%<sup>(b)</sup> | 120109 | 120109 |
| **TOTAL MONEY MARKET FUNDS** (Cost $120,109) | **TOTAL MONEY MARKET FUNDS** (Cost $120,109) | **TOTAL MONEY MARKET FUNDS** (Cost $120,109) | 120109 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $28,653,230**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $28,653,230**)** | **TOTAL INVESTMENTS - 100.0% (**Cost $28,653,230**)** | 32809716 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup> | 15841 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $32825557 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of September 30, 2025.

(c) Represents less than 0.05% of net assets.

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Point Bridge America First 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 September 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 | $32689607 | $– | $– | $32689607 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 120109 | – | – | 120109 |
| Total Investments | $32809716 | $– | $– | $32809716 |
| 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:** Point Bridge America First ETF

- **b. EDGAR series identifier (if any):** S000058757

- **c. LEI of Series:** 549300MQQ5W7N2H04N54

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

- **a. Date of fiscal year-end:** 2026-06-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $32844872.26

**Total Liabilities:** $19315.39

**Net Assets:** $32825556.87

**Cash Not Reported:** $452.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000192803 | 1.62%                | 2.94%                | 0.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $330.60                  | $499067.02                                 |
| Month 2  | $323633.22               | $545193.84                                 |
| Month 3  | $0.00                    | $-34406.43                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Robinhood Markets Inc          | Robinhood Markets Inc                      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |      2113 | NS      | $302539.34    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      1295 | NS      | $216964.30    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp   | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |      1129 | NS      | $226330.63    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      2778 | NS      | $231518.52    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                    | Ameren Corp                                | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      2067 | NS      | $215753.46    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc    | American Water Works Co Inc                | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      1449 | NS      | $201686.31    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co                  | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      3920 | NS      | $234180.80    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc       | Baxter International Inc                   | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |      9612 | NS      | $218865.24    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc            | Bentley Systems Inc                        | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      3698 | NS      | $190373.04    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                     | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |       446 | NS      | $224222.04    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                 | Blackstone Inc                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      1239 | NS      | $211683.15    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Owl Capital Inc           | Blue Owl Capital Inc                       | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11204 | NS      | $189683.72    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc     | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      2305 | NS      | $206758.50    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy Inc                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |      8906 | NS      | $210626.90    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc         | CenterPoint Energy Inc                     | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      5439 | NS      | $211033.20    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp      | Cincinnati Financial Corp                  | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |      1444 | NS      | $228296.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       953 | NS      | $195612.78    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      2275 | NS      | $215192.25    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |       620 | NS      | $204023.40    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp              | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      6567 | NS      | $230239.02    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      1444 | NS      | $206636.40    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                | Dollar Tree Inc                            | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |      1840 | NS      | $173640.80    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                       | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      4032 | NS      | $219461.76    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                   | Entergy Corp                               | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      2354 | NS      | $219369.26    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                     | Evergy Inc                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      2951 | NS      | $224335.02    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      1925 | NS      | $217043.75    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      4646 | NS      | $227839.84    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp                      | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       680 | NS      | $231880.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare Inc                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       591 | NS      | $251884.20    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                     | HEICO Corp                                 | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       650 | NS      | $209833.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH   | Huntington Bancshares Inc/OH               | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     13160 | NS      | $227273.20    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan Inc                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      7511 | NS      | $212636.41    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |       759 | NS      | $231806.19    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |       366 | NS      | $230682.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions Inc                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       484 | NS      | $221328.36    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp      | Occidental Petroleum Corp                  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      4862 | NS      | $229729.50    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc              | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      1488 | NS      | $209480.64    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                     | PACCAR Inc                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      2188 | NS      | $215124.16    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                    | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      1764 | NS      | $239939.28    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp        | SBA Communications Corp                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       924 | NS      | $178655.40    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The        | Charles Schwab Corp/The                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      2210 | NS      | $210988.70    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Cos Inc/The                      | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       817 | NS      | $228122.74    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc      | United Parcel Service Inc                  | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2498 | NS      | $208657.94    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc            | VICI Properties Inc                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      6376 | NS      | $207921.36    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                     | Watsco Inc                                 | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |       486 | NS      | $196489.80    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Cos Inc/The                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      3503 | NS      | $221915.05    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                                    | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | US        |      2217 | NS      | $265818.30    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc | American Electric Power Co Inc             | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      1859 | NS      | $209137.50    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                            | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |       338 | NS      | $219544.52    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc       | Ferguson Enterprises Inc                   | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |       951 | NS      | $213575.58    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information  | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |      2693 | NS      | $177576.42    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/ | First Citizens BancShares Inc/NC           | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       111 | NS      | $198596.76    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Genuine Parts Co               | Genuine Parts Co                           | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               | CORP              | US        |      1646 | NS      | $228135.60    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       565 | NS      | $228932.35    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc           | Howmet Aerospace Inc                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      1146 | NS      | $224879.58    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc              | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      1144 | NS      | $192741.12    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp            | Kimberly-Clark Corp                        | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      1616 | NS      | $200933.44    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                    | Lennar Corp                                | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1895 | NS      | $227381.05    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp          | Monster Beverage Corp                      | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |      3576 | NS      | $240700.56    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc             | Steel Dynamics Inc                         | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      1724 | NS      | $240377.32    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                     | TransUnion                                 | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |      2293 | NS      | $192107.54    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       962 | NS      | $227387.94    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      2144 | NS      | $220960.64    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                | Weyerhaeuser Co                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      8416 | NS      | $208632.64    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                     | Garmin Ltd                                 | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |       966 | NS      | $237848.52    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV   | LyondellBasell Industries NV               | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |      3951 | NS      | $193757.04    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource Inc                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      1623 | NS      | $196788.75    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       886 | NS      | $208192.28    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines Inc                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      4127 | NS      | $234207.25    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      1225 | NS      | $211778.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    119657 | NS      | $119656.52    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp               | FirstEnergy Corp                           | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      4888 | NS      | $223968.16    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp            | Alliant Energy Corp                        | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      3225 | NS      | $217397.25    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      3417 | NS      | $225727.02    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp              | Atmos Energy Corp                          | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      1355 | NS      | $231366.25    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                   | AutoZone Inc                               | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |        55 | NS      | $235963.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc            | Axon Enterprise Inc                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       284 | NS      | $203809.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      4772 | NS      | $215217.20    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp                                   | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      6030 | NS      | $214125.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       598 | NS      | $196718.08    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp             | Expand Energy Corp                         | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      2070 | NS      | $219916.80    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1395 | NS      | $216629.55    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      2965 | NS      | $200522.95    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      1405 | NS      | $238105.35    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      1810 | NS      | $202937.20    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                                 | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       808 | NS      | $221278.88    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc        | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1515 | NS      | $213524.10    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc           | Keurig Dr Pepper Inc                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |      6336 | NS      | $161631.36    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group Inc  | Principal Financial Group Inc              | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               | CORP              | US        |      2794 | NS      | $231650.54    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |       756 | NS      | $218370.60    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Inc                   | Reliance Inc                               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |       744 | NS      | $208937.52    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                    | Rollins Inc                                | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      3656 | NS      | $214753.44    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc         | Roper Technologies Inc                     | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |       389 | NS      | $193990.41    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial            | Synchrony Financial                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      3126 | NS      | $222102.30    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       697 | NS      | $309969.84    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co              | Tractor Supply Co                          | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |      3663 | NS      | $208314.81    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                | Tyson Foods Inc                            | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |      4018 | NS      | $218177.40    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      1015 | NS      | $198858.80    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart Inc                                 | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      4638 | NS      | $208570.86    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                     | Deere & Co                                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       421 | NS      | $192506.46    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp            | Dollar General Corp                        | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      1944 | NS      | $200912.40    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc            | Dominion Energy Inc                        | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |      3495 | NS      | $213789.15    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                        | Dow Inc                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      9687 | NS      | $222122.91    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp                           | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      1718 | NS      | $212602.50    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       298 | NS      | $237312.30    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services Inc | JB Hunt Transport Services Inc             | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |      1512 | NS      | $202865.04    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6957 | NS      | $204048.81    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group Inc/The       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1136 | NS      | $228256.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp         | Regions Financial Corp                     | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      8481 | NS      | $223643.97    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos Inc                 | Rocket Cos Inc                             | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12766 | NS      | $247405.08    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                | Yum! Brands Inc                            | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      1453 | NS      | $220856.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      4623 | NS      | $238500.57    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The             | Cooper Cos Inc/The                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      2979 | NS      | $204240.24    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                     | HEICO Corp                                 | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       821 | NS      | $208607.89    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                   | Illumina Inc                               | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |      2230 | NS      | $211783.10    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc  | Interactive Brokers Group Inc              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      3319 | NS      | $228380.39    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co         | International Paper Co                     | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |      4549 | NS      | $211073.60    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      2959 | NS      | $199466.19    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                    | Lennar Corp                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      1820 | NS      | $229392.80    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      1276 | NS      | $245936.24    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc               | Markel Group Inc                           | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |       109 | NS      | $208338.24    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                        | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        28 | NS      | $224970.48    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                   | NiSource Inc                               | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      4957 | NS      | $214638.10    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                     | Nucor Corp                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      1524 | NS      | $206395.32    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive Inc                    | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      2130 | NS      | $229635.30    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      2672 | NS      | $194975.84    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                       | PPL Corp                                   | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |      5920 | NS      | $219987.20    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp of America      | Packaging Corp of America                  | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      1102 | NS      | $240158.86    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| T Rowe Price Group Inc         | T Rowe Price Group Inc                     | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |      2049 | NS      | $210309.36    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                   | Prologis Inc                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      2012 | NS      | $230414.24    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc    | Ryan Specialty Holdings Inc                | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3648 | NS      | $205601.28    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                    | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       615 | NS      | $212949.90    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                | Southern Co/The                            | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      2223 | NS      | $210673.71    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co          | Southwest Airlines Co                      | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |      7083 | NS      | $226018.53    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                     | Sysco Corp                                 | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |      2643 | NS      | $217624.62    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                      | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      4914 | NS      | $224668.08    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings Inc                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      2329 | NS      | $229406.50    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1658 | NS      | $222072.52    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen Inc                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       712 | NS      | $200926.40    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      1372 | NS      | $216172.32    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       493 | NS      | $235234.95    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                                | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |       879 | NS      | $225489.87    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       972 | NS      | $229207.32    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                    | Hubbell Inc                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       495 | NS      | $213003.45    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       276 | NS      | $210588.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                         | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       246 | NS      | $234846.36    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      1584 | NS      | $269691.84    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co            | Vulcan Materials Co                        | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       768 | NS      | $236252.16    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      1270 | NS      | $226237.80    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Amcor PLC                      | Amcor PLC                                  | CUSIP: N/A<br>LEI: 549300GSODGFCDQ3DI89       | Long             | EC               | CORP              | CH        |     22698 | NS      | $185669.64    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC         | Trane Technologies PLC                     | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       481 | NS      | $202962.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer