# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-006335
**Filing Date:** 2026-2
**Character Count:** 44420
**Document Hash:** 84396101a21ecb19e98a3364c2454921
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-006335.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000894189-26-006335

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**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:** 26689485

**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

### Distillate U.S. Fundamental Stability & Value ETF (Series ID: S000063127)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000204705 | Distillate U.S. Fundamental Stability & Value ETF | DSTL            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Distillate U.S. Fundamental Stability & Value ETF** | **Distillate U.S. Fundamental Stability & Value ETF** | **Distillate U.S. Fundamental Stability & Value ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.3%** | **Shares** | **Value**  |
| **Communications - 14.3%** | **Communications - 14.3%** | |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 126435 | $17159758 |
| Booking Holdings, Inc. | 4748 | 25427107 |
| CDW Corp. | 107705 | 14669421 |
| Cisco Systems, Inc. | 452605 | 34864163 |
| Comcast Corp. - Class A | 1135803 | 33949152 |
| F5, Inc. <sup>(a)</sup> | 48853 | 12470217 |
| FactSet Research Systems, Inc. | 47308 | 13728308 |
| GoDaddy, Inc. - Class A <sup>(a)</sup> | 103712 | 12868585 |
| Omnicom Group, Inc. | 168318 | 13591678 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 546749 | 14155332 |
| T-Mobile US, Inc. | 216540 | 43966282 |
| Uber Technologies, Inc. <sup>(a)</sup> | 344913 | 28182841 |
|  |  | 265032844 |
| **Consumer, Cyclical - 7.1%** | **Consumer, Cyclical - 7.1%** |  |
| Crocs, Inc. <sup>(a)</sup> | 172369 | 14740997 |
| Deckers Outdoor Corp. <sup>(a)</sup> | 108594 | 11257940 |
| DR Horton, Inc. | 124957 | 17997557 |
| LKQ Corp. | 479990 | 14495698 |
| NVR, Inc. <sup>(a)</sup> | 1756 | 12806104 |
| PACCAR, Inc. | 168019 | 18399761 |
| PulteGroup, Inc. | 135156 | 15848392 |
| Toll Brothers, Inc. | 102011 | 13793927 |
| Williams-Sonoma, Inc. | 69690 | 12445937 |
|  |  | 131786313 |
| **Consumer, Non-cyclical - 36.1% <sup>(b)</sup>** | **Consumer, Non-cyclical - 36.1% <sup>(b)</sup>** |  |
| AbbVie, Inc. | 210015 | 47986327 |
| Align Technology, Inc. <sup>(a)</sup> | 104306 | 16287382 |
| Altria Group, Inc. | 412984 | 23812657 |
| Amgen, Inc. | 83826 | 27437088 |
| Automatic Data Processing, Inc. | 68817 | 17701797 |
| Avery Dennison Corp. | 68301 | 12422586 |
| Becton Dickinson & Co. | 88537 | 17182376 |
| Bristol-Myers Squibb Co. | 628655 | 33909651 |
| Cardinal Health, Inc. | 88903 | 18269566 |
| Cencora, Inc. | 48991 | 16546710 |
| Church & Dwight Co., Inc. | 152456 | 12783436 |
| Cigna Group | 101994 | 28071809 |
| Colgate-Palmolive Co. | 205898 | 16270060 |
| Constellation Brands, Inc. - Class A | 116002 | 16003636 |
| Corpay, Inc. <sup>(a)</sup> | 39518 | 11892152 |
| Global Payments, Inc. | 218631 | 16922039 |
| ICON PLC <sup>(a)</sup> | 63204 | 11517033 |
| Jazz Pharmaceuticals PLC <sup>(a)</sup> | 105023 | 17853910 |
| Johnson & Johnson | 177210 | 36673609 |
| Kroger Co. | 260150 | 16254172 |
| McKesson Corp. | 29181 | 23936882 |
| Merck & Co., Inc. | 424830 | 44717606 |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 88493 | 12550962 |
| PayPal Holdings, Inc. | 371086 | 21664001 |
| Procter & Gamble Co. | 255292 | 36585897 |
| Quest Diagnostics, Inc. | 84866 | 14726797 |
| Regeneron Pharmaceuticals, Inc. | 27125 | 20936974 |
| ResMed, Inc. | 63800 | 15367506 |
| Sysco Corp. | 196214 | 14459010 |
| Tenet Healthcare Corp. <sup>(a)</sup> | 84975 | 16886232 |
| Universal Health Services, Inc. - Class B | 71521 | 15593008 |
| US Foods Holding Corp. <sup>(a)</sup> | 200841 | 15127344 |
|  |  | 668350215 |
| **Energy - 4.5%** | **Energy - 4.5%** |  |
| Coterra Energy, Inc. | 542568 | 14280390 |
| Diamondback Energy, Inc. | 120495 | 18114013 |
| Marathon Petroleum Corp. | 137551 | 22369919 |
| Permian Resources Corp. | 990258 | 13893320 |
| TechnipFMC PLC | 331814 | 14785632 |
|  |  | 83443274 |
| **Financial - 3.6%** | **Financial - 3.6%** |  |
| Arthur J Gallagher & Co. | 71729 | 18562748 |
| Brown & Brown, Inc. | 158121 | 12602243 |
| Cboe Global Markets, Inc. | 68429 | 17175679 |
| Marsh & McLennan Cos., Inc. | 96288 | 17863350 |
|  |  | 66204020 |
| **Industrial - 17.3%** | **Industrial - 17.3%** |  |
| A O Smith Corp. | 178859 | 11962090 |
| Acuity, Inc. | 39566 | 14245343 |
| Applied Industrial Technologies, Inc. | 51946 | 13338174 |
| Carlisle Cos., Inc. | 44905 | 14363313 |
| Crown Holdings, Inc. | 111000 | 11429670 |
| EMCOR Group, Inc. | 24280 | 14854261 |
| FedEx Corp. | 76250 | 22025575 |
| Fortive Corp. | 263797 | 14564232 |
| General Dynamics Corp. | 55637 | 18730752 |
| IDEX Corp. | 63814 | 11355063 |
| Jabil, Inc. | 60959 | 13899871 |
| Lennox International, Inc. | 25225 | 12248756 |
| Lockheed Martin Corp. | 47203 | 22830675 |
| Masco Corp. | 172661 | 10957067 |
| Owens Corning | 126314 | 14135800 |
| Smurfit WestRock PLC | 322997 | 12490294 |
| Snap-on, Inc. | 40415 | 13927009 |
| TE Connectivity PLC | 79737 | 18140965 |
| Textron, Inc. | 180809 | 15761121 |
| TopBuild Corp. <sup>(a)</sup> | 39375 | 16426856 |
| Union Pacific Corp. | 97265 | 22499340 |
|  |  | 320186227 |
| **Technology - 15.3%** | **Technology - 15.3%** |  |
| Accenture PLC - Class A | 107832 | 28931326 |
| Adobe, Inc. <sup>(a)</sup> | 71250 | 24936788 |
| Amdocs Ltd. | 144442 | 11629025 |
| CACI International, Inc. - Class A <sup>(a)</sup> | 26657 | 14203116 |
| Cognizant Technology Solutions Corp. - Class A | 186461 | 15476263 |
| Dropbox, Inc. - Class A <sup>(a)</sup> | 409402 | 11381376 |
| EPAM Systems, Inc. <sup>(a)</sup> | 70954 | 14537056 |
| Gartner, Inc. <sup>(a)</sup> | 54448 | 13736141 |
| NetApp, Inc. | 112745 | 12073862 |
| ON Semiconductor Corp. <sup>(a)</sup> | 247060 | 13378299 |
| Paychex, Inc. | 144550 | 16215619 |
| QUALCOMM, Inc. | 174292 | 29812647 |
| Roper Technologies, Inc. | 31429 | 13989991 |
| Salesforce, Inc. | 129851 | 34398828 |
| SS&C Technologies Holdings, Inc. | 181219 | 15842165 |
| Zoom Communications, Inc. - Class A <sup>(a)</sup> | 152629 | 13170356 |
|  |  | 283712858 |
| **Utilities - 1.1%** | **Utilities - 1.1%** |  |
| Vistra Corp. | 122429 | 19751471 |
| **TOTAL COMMON STOCKS** (Cost $1,739,796,308) | **TOTAL COMMON STOCKS** (Cost $1,739,796,308) | 1838467222 |
| **TOTAL INVESTMENTS - 99.3% (**Cost $1,739,796,308**)** | **TOTAL INVESTMENTS - 99.3% (**Cost $1,739,796,308**)** | 1838467222 |
| Other Assets in Excess of Liabilities - 0.7% | Other Assets in Excess of Liabilities - 0.7% | 13336419 |
| **TOTAL NET ASSETS - 100.0%** |  | $1851803641 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

PLC - Public Limited Company<br>

(a) Non-income producing security.

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

------

#### Summary of Fair Value Disclosure as of December 31, 2025 (Unaudited)
Distillate U.S. Fundamental Stability & Value 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 December 31, 2025: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $1838467222 | $– | $– | $1838467222 |
| Total Investments | $1838467222 | $– | $– | $1838467222 |
| 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:** Distillate U.S. Fundamental Stability & Value ETF

- **b. EDGAR series identifier (if any):** S000063127

- **c. LEI of Series:** 5493002W0E8K4UD8QD78

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $1943014684.80

**Total Liabilities:** $94155093.91

**Net Assets:** $1848859590.89

**Cash Not Reported:** $13341661.91

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000204705 | -1.67%               | 3.07%                | 0.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2060545.22              | $-34515787.16                              |
| Month 2  | $3596828.74              | $48971428.81                               |
| Month 3  | $27263902.66             | $-19245346.07                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Omnicom Group Inc              | Omnicom Group Inc                   | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |    168052 | NS      | $13570199.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc         | Roper Technologies Inc              | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     31381 | NS      | $13968624.53  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc  | Universal Health Services Inc       | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     71409 | NS      | $15568590.18  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Smurfit WestRock PLC           | Smurfit WestRock PLC                | CUSIP: N/A<br>LEI: 635400EGSEOPDW2EXS14       | Long             | EC               | CORP              | IE        |    322485 | NS      | $12470494.95  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy Inc              | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    120305 | NS      | $18085450.65  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc             | Coterra Energy Inc                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    541706 | NS      | $14257701.92  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    451887 | NS      | $34808855.61  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co                | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |    205572 | NS      | $16244299.44  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp           | Deckers Outdoor Corp                | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |    108422 | NS      | $11240108.74  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc         | Church & Dwight Co Inc              | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |    152214 | NS      | $12763143.90  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    246668 | NS      | $13357072.20  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals PLC            | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |    104857 | NS      | $17825690.00  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                          | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    209683 | NS      | $47910468.67  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                    | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    412328 | NS      | $23774832.48  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co             | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    627657 | NS      | $33855818.58  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                    | Dropbox Inc                         | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |    408752 | NS      | $11363305.60  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                     | Masco Corp                          | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |    172387 | NS      | $10939679.02  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                     | NetApp Inc                          | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |    112567 | NS      | $12054800.03  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp         | Permian Resources Corp              | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    988684 | NS      | $13871236.52  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc | SS&C Technologies Holdings Inc      | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    180931 | NS      | $15816988.02  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                 | A O Smith Corp                      | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |    178575 | NS      | $11943096.00  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp          | Tenet Healthcare Corp               | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     84841 | NS      | $16859603.52  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                   | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |    101849 | NS      | $13772021.78  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc               | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    344365 | NS      | $28138064.15  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                  | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     97111 | NS      | $22463716.52  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoom Communications Inc        | Zoom Communications Inc             | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |    152387 | NS      | $13149474.23  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                 | TechnipFMC PLC                      | CUSIP: N/A<br>LEI: 549300D5I93QWCJTCK36       | Long             | EC               | CORP              | GB        |    331288 | NS      | $14762193.28  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                    | Snap-on Inc                         | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |     40351 | NS      | $13904954.60  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                     | Sysco Corp                          | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    195904 | NS      | $14436165.76  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma Inc                 | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     69580 | NS      | $12426292.20  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen Inc                           | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     83694 | NS      | $27393883.14  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corp            | Avery Dennison Corp                 | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     68193 | NS      | $12402942.84  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                    | CDW Corp/DE                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    107535 | NS      | $14646267.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                      | Crocs Inc                           | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |    172095 | NS      | $14717564.40  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp                          | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     76130 | NS      | $21990911.80  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp                            | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |    479228 | NS      | $14472685.60  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    174016 | NS      | $29765436.80  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc  | Regeneron Pharmaceuticals Inc       | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     27083 | NS      | $20904555.21  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                     | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |    216196 | NS      | $43896435.84  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora Inc                         | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     48915 | NS      | $16521041.25  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc         | CACI International Inc              | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     26615 | NS      | $14180738.15  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co             | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     71615 | NS      | $18533245.85  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                      | Jabil Inc                           | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     60863 | NS      | $13877981.26  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                       | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |    259738 | NS      | $16228430.24  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc            | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     96136 | NS      | $17835150.72  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                       | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     29135 | NS      | $23899149.15  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                         | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |    144322 | NS      | $16190041.96  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    254888 | NS      | $36527999.28  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc          | Quest Diagnostics Inc               | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     84732 | NS      | $14703543.96  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| US Foods Holding Corp          | US Foods Holding Corp               | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |    200523 | NS      | $15103392.36  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC            | TE Connectivity PLC                 | CUSIP: N/A<br>LEI: 6367003TB6K484NFHE54       | Long             | EC               | CORP              | IE        |     79611 | NS      | $18112298.61  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc               | EPAM Systems Inc                    | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |     70842 | NS      | $14514108.96  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     47129 | NS      | $22794883.43  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp        | Marathon Petroleum Corp             | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    137333 | NS      | $22334465.79  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                       | ICON PLC                            | CUSIP: N/A<br>LEI: 6354008SRQGEMC4XFI67       | Long             | EC               | CORP              | IE        |     63104 | NS      | $11498810.88  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Acuity Inc                     | Acuity Inc                          | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39504 | NS      | $14223020.16  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                           | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     71138 | NS      | $24897588.62  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc           | Align Technology Inc                | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |    104142 | NS      | $16261773.30  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing Inc       | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     68709 | NS      | $17674016.07  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc            | Cardinal Health Inc                 | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     88763 | NS      | $18240796.50  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc               | Carlisle Cos Inc                    | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |     44835 | NS      | $14340923.10  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                        | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   1133999 | NS      | $33895230.11  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                       | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |    124759 | NS      | $17969038.77  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                    | Gartner Inc                         | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     54362 | NS      | $13714445.36  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                    | GoDaddy Inc                         | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |    103548 | NS      | $12848235.84  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX Corp                      | IDEX Corp                           | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     63714 | NS      | $11337269.16  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc          | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     88353 | NS      | $12531105.99  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                       | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |    126114 | NS      | $14113417.74  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                  | Pinterest Inc                       | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |    545881 | NS      | $14132859.09  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup Inc                      | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134942 | NS      | $15823298.92  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                     | Amdocs Ltd                          | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | US        |    144214 | NS      | $11610669.14  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp          | General Dynamics Corp               | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |     55549 | NS      | $18701126.34  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc            | Global Payments Inc                 | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    218285 | NS      | $16895259.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc       | Lennox International Inc            | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |     25185 | NS      | $12229332.30  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings Inc                 | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    370498 | NS      | $21629673.24  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                     | ResMed Inc                          | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     63700 | NS      | $15343419.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                      | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    129645 | NS      | $34344256.95  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc                    | Textron Inc                         | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |    180523 | NS      | $15736189.91  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                       | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |     39313 | NS      | $16400990.47  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                         | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    122235 | NS      | $19720172.55  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                  | Accenture PLC                       | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |    107662 | NS      | $28885714.60  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group Inc                | EMCOR Group Inc                     | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     24242 | NS      | $14831013.18  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc   | FactSet Research Systems Inc        | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |     47234 | NS      | $13706834.46  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 Inc                         | F5 Inc                              | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |     48777 | NS      | $12450817.02  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                   | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    176930 | NS      | $36615663.50  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    424156 | NS      | $44646660.56  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                        | NVR Inc                             | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      1754 | NS      | $12791518.58  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                     | PACCAR Inc                          | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    167753 | NS      | $18370631.03  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     51864 | NS      | $13317119.28  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co          | Becton Dickinson & Co               | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     88397 | NS      | $17155205.79  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc                | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      4742 | NS      | $25394974.86  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc              | Brown & Brown Inc                   | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |    157871 | NS      | $12582318.70  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                     | Airbnb Inc                          | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |    126235 | NS      | $17132614.20  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                     | Corpay Inc                          | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     39456 | NS      | $11873494.08  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc        | Cboe Global Markets Inc             | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     68321 | NS      | $17148571.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                | Cigna Group/The                     | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    101832 | NS      | $28027221.36  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |    186165 | NS      | $15451695.00  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands Inc            | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |    115818 | NS      | $15978251.28  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc             | Crown Holdings Inc                  | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |    110824 | NS      | $11411547.28  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                   | Fortive Corp                        | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |    263379 | NS      | $14541154.59  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer