# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-009885
**Filing Date:** 2026-3
**Character Count:** 104148
**Document Hash:** 054e6f83bbc56479a3aaacc6dbfe7d59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-009885.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0000894189-26-009885

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20261031

**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:** 26815158

**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

### AAM Transformers ETF (Series ID: S000076555)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000236534 | AAM Transformers ETF | TRFM            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **AAM Transformers ETF** | **AAM Transformers ETF** | **AAM Transformers ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** | **January 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 100.0%** | **Shares** | **Value**  |
| **Communication Services - 5.4%** | **Communication Services - 5.4%** | |
| Alphabet, Inc. - Class A | 2616 | $884208 |
| Bilibili, Inc. - ADR <sup>(a)(b)</sup> | 13779 | 469037 |
| Meta Platforms, Inc. - Class A | 1248 | 894192 |
| Netflix, Inc. <sup>(a)</sup> | 8384 | 699980 |
| Nintendo Co. Ltd. - ADR <sup>(b)</sup> | 23878 | 367721 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 13373 | 295945 |
| Reddit, Inc. - Class A <sup>(a)</sup> | 2349 | 423454 |
| ROBLOX Corp. - Class A <sup>(a)</sup> | 5712 | 375621 |
| Roku, Inc. <sup>(a)</sup> | 3578 | 340626 |
| Snap, Inc. - Class A <sup>(a)</sup> | 45214 | 313333 |
| Spotify Technology SA <sup>(a)</sup> | 843 | 421795 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup> | 2219 | 488846 |
| Tencent Holdings Ltd. - ADR | 6083 | 464680 |
|  |  | 6439438 |
| **Consumer Discretionary - 7.4%** | **Consumer Discretionary - 7.4%** |  |
| Amazon.com, Inc. <sup>(a)</sup> | 3663 | 876556 |
| Chagee Holdings Ltd. - ADR <sup>(b)</sup> | 24380 | 285734 |
| Coupang, Inc. <sup>(a)</sup> | 20283 | 408905 |
| DoorDash, Inc. - Class A <sup>(a)</sup> | 2444 | 500091 |
| Global Business Travel Group I <sup>(a)</sup> | 45127 | 309120 |
| Global-e Online Ltd. <sup>(a)</sup> | 8743 | 319557 |
| Hesai Group - ADR <sup>(a)(b)</sup> | 17684 | 422117 |
| Li Auto, Inc. - ADR <sup>(a)(b)</sup> | 19965 | 332018 |
| Meituan - ADR <sup>(a)(b)</sup> | 18704 | 461802 |
| MercadoLibre, Inc. <sup>(a)</sup> | 230 | 493992 |
| MINISO Group Holding Ltd. - ADR <sup>(b)</sup> | 18437 | 340347 |
| Mobileye Global, Inc. - Class A <sup>(a)</sup> | 30381 | 272821 |
| NIO, Inc. - ADR <sup>(a)(b)</sup> | 70531 | 331496 |
| Ollie's Bargain Outlet Holdings, Inc. <sup>(a)</sup> | 2946 | 324973 |
| PDD Holdings, Inc. - ADR <sup>(a)</sup> | 4045 | 408747 |
| Rivian Automotive, Inc. - Class A <sup>(a)(b)</sup> | 30740 | 453415 |
| Sea Ltd. - ADR <sup>(a)</sup> | 3550 | 413539 |
| Tesla, Inc. <sup>(a)</sup> | 1847 | 794967 |
| Trip.com Group Ltd. - ADR | 6628 | 406760 |
| WeRide, Inc. - ADR <sup>(a)</sup> | 37357 | 299230 |
| XPeng, Inc. - ADR <sup>(a)(b)</sup> | 17774 | 319577 |
|  |  | 8775764 |
| **Financials - 4.0%** | **Financials - 4.0%** |  |
| Adyen NV - ADR <sup>(a)</sup> | 30341 | 448136 |
| Affirm Holdings, Inc. <sup>(a)(b)</sup> | 8086 | 487586 |
| Chime Financial, Inc. - Class A <sup>(a)</sup> | 14816 | 376623 |
| Corpay, Inc. <sup>(a)</sup> | 1770 | 556895 |
| Dlocal, Ltd. | 26749 | 360041 |
| Marqeta, Inc. - Class A <sup>(a)</sup> | 76747 | 316965 |
| Paymentus Holdings, Inc. - Class A <sup>(a)</sup> | 10164 | 271684 |
| Remitly Global, Inc. <sup>(a)</sup> | 26631 | 352062 |
| Shift4 Payments, Inc. - Class A <sup>(a)(b)</sup> | 5194 | 306654 |
| Toast, Inc. - Class A <sup>(a)</sup> | 15415 | 479560 |
| Visa, Inc. - Class A | 2537 | 816483 |
|  |  | 4772689 |
| **Industrials - 25.7% <sup>(c)</sup>** | **Industrials - 25.7% <sup>(c)</sup>** |  |
| ABB Ltd. - ADR | 6521 | 562175 |
| Acuity, Inc. | 962 | 297489 |
| AeroVironment, Inc. <sup>(a)</sup> | 1284 | 357453 |
| Airbus SE - ADR | 8321 | 474713 |
| AMETEK, Inc. | 2752 | 616393 |
| Atlas Copco AB - ADR | 26540 | 548051 |
| Axon Enterprise, Inc. <sup>(a)</sup> | 997 | 482129 |
| Bloom Energy Corp. - Class A <sup>(a)</sup> | 4614 | 698421 |
| Boeing Co. <sup>(a)</sup> | 4164 | 973210 |
| BWX Technologies, Inc. | 2012 | 413325 |
| Chart Industries, Inc. <sup>(a)</sup> | 1744 | 361601 |
| Donaldson Co., Inc. | 3871 | 394610 |
| Eaton Corp. PLC | 1410 | 495502 |
| Embraer SA - ADR | 5746 | 422101 |
| Eos Energy Enterprises, Inc. <sup>(a)(b)</sup> | 23842 | 349047 |
| Esab Corp. | 3237 | 392001 |
| FANUC Corp. - ADR | 24802 | 497528 |
| Flowserve Corp. | 4959 | 387546 |
| Fluence Energy, Inc. <sup>(a)(b)</sup> | 14927 | 459304 |
| GE Vernova, Inc. | 1329 | 965346 |
| Generac Holdings, Inc. <sup>(a)</sup> | 2205 | 370528 |
| General Electric Co. | 2966 | 909939 |
| Grab Holdings Ltd. - Class A <sup>(a)</sup> | 68493 | 294520 |
| Graco, Inc. | 4285 | 374209 |
| HEICO Corp. | 1763 | 583394 |
| Hexcel Corp. <sup>(b)</sup> | 4678 | 387385 |
| Howmet Aerospace, Inc. | 2881 | 599478 |
| Hubbell, Inc. <sup>(b)</sup> | 1249 | 609437 |
| Intuitive Machines, Inc. <sup>(a)</sup> | 31915 | 606066 |
| ITT, Inc. | 1975 | 360043 |
| Karman Holdings, Inc. <sup>(a)(b)</sup> | 5484 | 569239 |
| Kratos Defense & Security Solutions, Inc. <sup>(a)</sup> | 4675 | 481572 |
| Leonardo SpA - ADR | 17338 | 576142 |
| Lincoln Electric Holdings, Inc. | 1457 | 386615 |
| Mercury Systems, Inc. <sup>(a)</sup> | 5077 | 476629 |
| Mitsubishi Heavy Industries Ltd. - ADR | 17893 | 524802 |
| Mueller Water Products, Inc. - Class A | 14561 | 394166 |
| Nextpower, Inc. - Class A <sup>(a)</sup> | 3950 | 462506 |
| nVent Electric PLC | 3300 | 370458 |
| Parker-Hannifin Corp. | 624 | 583964 |
| Plug Power, Inc. <sup>(a)(b)</sup> | 163161 | 345086 |
| Prysmian SpA - ADR | 7215 | 428210 |
| RBC Bearings, Inc. <sup>(a)</sup> | 806 | 402734 |
| Rheinmetall AG - ADR | 1340 | 564569 |
| Rocket Lab Corp. <sup>(a)</sup> | 11245 | 900387 |
| Rockwell Automation, Inc. | 1361 | 573866 |
| Rolls-Royce Holdings PLC - ADR <sup>(b)</sup> | 32677 | 549627 |
| Safran SA - ADR | 5580 | 496174 |
| Schneider Electric SE - ADR | 8693 | 495849 |
| Siemens Energy AG - ADR <sup>(a)</sup> | 3478 | 590391 |
| SMC Corp. - ADR <sup>(b)</sup> | 19677 | 382127 |
| Standex International Corp. | 1476 | 354240 |
| Sunrun, Inc. <sup>(a)</sup> | 20345 | 386555 |
| Symbotic, Inc. <sup>(a)(b)</sup> | 9211 | 500802 |
| Techtronic Industries Co. Ltd. - ADR <sup>(b)</sup> | 5775 | 394028 |
| Thales SA - ADR <sup>(b)</sup> | 9090 | 555726 |
| TransDigm Group, Inc. | 408 | 582436 |
| Uber Technologies, Inc. <sup>(a)</sup> | 9205 | 736860 |
| Watts Water Technologies, Inc. - Class A | 1314 | 393293 |
| Woodward, Inc. | 1179 | 374733 |
| Xylem, Inc. | 3957 | 545552 |
|  |  | 30622282 |
| **Information Technology - 50.0% <sup>(c)</sup>** | **Information Technology - 50.0% <sup>(c)</sup>** |  |
| ACM Research, Inc. - Class A <sup>(a)</sup> | 10206 | 593173 |
| Advanced Energy Industries, Inc. | 1631 | 416492 |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 3857 | 913068 |
| Advantest Corp. - ADR | 3640 | 602165 |
| Alkami Technology, Inc. <sup>(a)</sup> | 16604 | 351839 |
| Allegro MicroSystems, Inc. <sup>(a)(b)</sup> | 12235 | 451594 |
| Ambarella, Inc. <sup>(a)</sup> | 4828 | 309185 |
| Amphenol Corp. - Class A | 6031 | 868946 |
| Analog Devices, Inc. | 1955 | 607770 |
| Appfolio, Inc. - Class A <sup>(a)</sup> | 1521 | 288807 |
| Apple, Inc. | 3015 | 782332 |
| Applied Digital Corp. <sup>(a)(b)</sup> | 11452 | 387994 |
| AppLovin Corp. - Class A <sup>(a)</sup> | 1221 | 577667 |
| Arista Networks, Inc. <sup>(a)</sup> | 6534 | 926129 |
| ARM Holdings PLC - ADR <sup>(a)(b)</sup> | 3366 | 354642 |
| ASE Technology Holding Co. Ltd. - ADR <sup>(b)</sup> | 31266 | 593429 |
| ASML Holding NV | 432 | 614736 |
| Astera Labs, Inc. <sup>(a)</sup> | 3410 | 513614 |
| Atlassian Corp. - Class A <sup>(a)</sup> | 2986 | 352885 |
| Autodesk, Inc. <sup>(a)</sup> | 1797 | 454407 |
| AvePoint, Inc. <sup>(a)</sup> | 26690 | 310405 |
| Broadcom, Inc. | 2147 | 711301 |
| Cadence Design Systems, Inc. <sup>(a)</sup> | 1630 | 483067 |
| Calix, Inc. <sup>(a)</sup> | 6597 | 294688 |
| Camtek, Ltd. <sup>(a)(b)</sup> | 3036 | 444865 |
| Ciena Corp. <sup>(a)</sup> | 2726 | 686434 |
| Circle Internet Group, Inc. <sup>(a)(b)</sup> | 6423 | 410622 |
| Clearwater Analytics Holdings, Inc. - Class A <sup>(a)</sup> | 16475 | 396883 |
| Cloudflare, Inc. - Class A <sup>(a)</sup> | 2736 | 485230 |
| Coherent Corp. <sup>(a)</sup> | 3025 | 641844 |
| Confluent, Inc. - Class A <sup>(a)</sup> | 15455 | 471996 |
| CoreWeave, Inc. - Class A <sup>(a)(b)</sup> | 6225 | 580108 |
| Corning, Inc. | 6397 | 660490 |
| Credo Technology Group Holding Ltd. <sup>(a)</sup> | 3123 | 391249 |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 1074 | 474069 |
| CyberArk Software Ltd. <sup>(a)</sup> | 744 | 320538 |
| Daqo New Energy Corp. - ADR <sup>(a)</sup> | 11418 | 282253 |
| Datadog, Inc. - Class A <sup>(a)</sup> | 3631 | 469561 |
| Dell Technologies, Inc. - Class C | 3959 | 453068 |
| DigitalOcean Holdings, Inc. <sup>(a)</sup> | 7397 | 408684 |
| Diodes, Inc. <sup>(a)</sup> | 6822 | 403794 |
| Dynatrace, Inc. <sup>(a)</sup> | 8048 | 306548 |
| Extreme Networks, Inc. <sup>(a)</sup> | 20334 | 296470 |
| Fabrinet <sup>(a)</sup> | 744 | 364143 |
| Fair Isaac Corp. <sup>(a)</sup> | 306 | 447730 |
| First Solar, Inc. <sup>(a)</sup> | 2135 | 481485 |
| Fortinet, Inc. <sup>(a)</sup> | 6325 | 513970 |
| Fujitsu Ltd. - ADR | 18247 | 506354 |
| Gitlab, Inc. - Class A <sup>(a)</sup> | 9577 | 335003 |
| Guidewire Software, Inc. <sup>(a)</sup> | 1701 | 239433 |
| Hewlett Packard Enterprise Co. | 23570 | 507226 |
| HubSpot, Inc. <sup>(a)</sup> | 943 | 264040 |
| Impinj, Inc. <sup>(a)(b)</sup> | 2259 | 311968 |
| Infineon Technologies AG - ADR <sup>(b)</sup> | 10881 | 533278 |
| International Business Machines Corp. | 2729 | 836984 |
| Intuit, Inc. | 1245 | 621155 |
| JFrog Ltd. <sup>(a)</sup> | 5522 | 302606 |
| Kingsoft Cloud Holdings Ltd. - ADR <sup>(a)(b)</sup> | 29973 | 395943 |
| KLA Corp. | 690 | 985279 |
| Klaviyo, Inc. - Class A <sup>(a)</sup> | 12128 | 269363 |
| Lam Research Corp. | 5303 | 1238038 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 4537 | 365319 |
| Lenovo Group Ltd. - ADR | 13803 | 312086 |
| Life360, Inc. <sup>(a)</sup> | 4585 | 262675 |
| Lumentum Holdings, Inc. <sup>(a)</sup> | 1659 | 650063 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup> | 1943 | 425634 |
| Marvell Technology, Inc. | 5559 | 438716 |
| Microchip Technology, Inc. | 8356 | 634388 |
| Micron Technology, Inc. | 3550 | 1472824 |
| Microsoft Corp. | 1740 | 748705 |
| Mirion Technologies, Inc. <sup>(a)</sup> | 14293 | 355038 |
| Monday.com Ltd. <sup>(a)</sup> | 2264 | 259794 |
| MongoDB, Inc. <sup>(a)</sup> | 1343 | 498696 |
| Monolithic Power Systems, Inc. | 572 | 643014 |
| Nebius Group NV <sup>(a)</sup> | 3624 | 308729 |
| Nova Ltd. <sup>(a)(b)</sup> | 1095 | 501335 |
| NVIDIA Corp. | 4614 | 881874 |
| NXP Semiconductors NV | 2088 | 472180 |
| Obic Co. Ltd. - ADR <sup>(b)</sup> | 22079 | 307560 |
| Onto Innovation, Inc. <sup>(a)</sup> | 2282 | 461078 |
| Oracle Corp. | 3853 | 634127 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 4625 | 677979 |
| Palo Alto Networks, Inc. <sup>(a)</sup> | 2768 | 489853 |
| Power Integrations, Inc. | 9796 | 450028 |
| PTC, Inc. <sup>(a)</sup> | 3169 | 494776 |
| Pure Storage, Inc. - Class A <sup>(a)(b)</sup> | 7811 | 543177 |
| Rambus, Inc. <sup>(a)</sup> | 3520 | 400682 |
| Rubrik, Inc. - Class A <sup>(a)</sup> | 4147 | 232025 |
| SailPoint, Inc. <sup>(a)</sup> | 17670 | 277242 |
| Samsara, Inc. - Class A <sup>(a)(b)</sup> | 12159 | 341060 |
| Sandisk Corp. <sup>(a)</sup> | 2408 | 1387610 |
| SAP SE - ADR | 1924 | 386801 |
| Seagate Technology Holdings PLC | 1972 | 803965 |
| Semtech Corp. <sup>(a)</sup> | 4492 | 358237 |
| SentinelOne, Inc. - Class A <sup>(a)</sup> | 24631 | 344341 |
| ServiceNow, Inc. <sup>(a)</sup> | 4906 | 574051 |
| ServiceTitan, Inc. - Class A <sup>(a)</sup> | 3388 | 265416 |
| Shopify, Inc. - Class A <sup>(a)</sup> | 2952 | 387391 |
| Silicon Laboratories, Inc. <sup>(a)</sup> | 2528 | 360114 |
| Silicon Motion Technology Corp. - ADR | 3856 | 458594 |
| SiTime Corp. <sup>(a)</sup> | 1015 | 368557 |
| Snowflake, Inc. - Class A <sup>(a)</sup> | 2405 | 463443 |
| SoundHound AI, Inc. - Class A <sup>(a)(b)</sup> | 28029 | 237125 |
| Super Micro Computer, Inc. <sup>(a)(b)</sup> | 15845 | 461248 |
| Synaptics, Inc. <sup>(a)</sup> | 4600 | 379546 |
| Synopsys, Inc. <sup>(a)</sup> | 1177 | 547440 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 1615 | 533854 |
| Teradyne, Inc. | 2739 | 660236 |
| Texas Instruments, Inc. <sup>(b)</sup> | 4603 | 992177 |
| Tokyo Electron Ltd. - ADR | 4456 | 592559 |
| Universal Display Corp. | 2948 | 338489 |
| Viavi Solutions, Inc. <sup>(a)</sup> | 19510 | 477215 |
| Vnet Group, Inc. - ADR <sup>(a)(b)</sup> | 39763 | 418704 |
| Western Digital Corp. | 3259 | 815500 |
| Workday, Inc. - Class A <sup>(a)</sup> | 2501 | 439251 |
| Workiva, Inc. <sup>(a)(b)</sup> | 3884 | 299146 |
| Xiaomi Corp. - ADR <sup>(a)(b)</sup> | 17422 | 393737 |
| Zeta Global Holdings Corp. - Class A <sup>(a)</sup> | 18776 | 348858 |
| Zscaler, Inc. <sup>(a)</sup> | 2265 | 453023 |
|  |  | 59586324 |
| **Utilities - 7.5%** | **Utilities - 7.5%** |  |
| American Electric Power Co., Inc. | 4677 | 560188 |
| Axia Energia - ADR <sup>(b)</sup> | 30806 | 317918 |
| Constellation Energy Corp. | 1529 | 429160 |
| Emera, Inc. | 7488 | 371105 |
| Entergy Corp. | 5836 | 559614 |
| Fortis, Inc. | 6958 | 371070 |
| Iberdrola SA - ADR | 5679 | 512927 |
| IDACORP, Inc. | 2821 | 374601 |
| NextEra Energy, Inc. | 10111 | 888757 |
| Ormat Technologies, Inc. | 3176 | 396809 |
| Pampa Energia SA - ADR <sup>(a)</sup> | 3921 | 339715 |
| Pinnacle West Capital Corp. | 4057 | 379573 |
| PPL Corp. | 16238 | 588628 |
| Southern Co. | 6374 | 569262 |
| SSE PLC - ADR | 16416 | 549279 |
| Talen Energy Corp. <sup>(a)</sup> | 1009 | 351495 |
| TXNM Energy, Inc. | 6141 | 361828 |
| Vistra Corp. | 3290 | 520972 |
| Xcel Energy, Inc. | 7124 | 541851 |
|  |  | 8984752 |
| **TOTAL COMMON STOCKS** (Cost $107,422,044) | **TOTAL COMMON STOCKS** (Cost $107,422,044) | 119181249 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 13.8%** | **Units** | **Value**  |
| Mount Vernon Liquid Assets Portfolio, LLC, 3.77% <sup>(d)</sup> | 16434808 | 16434808 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $16,434,808) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $16,434,808) | 16434808 |
| **MONEY MARKET FUNDS - 0.0% <sup>(e)</sup>** | **Shares** | **Value**  |
| Invesco Government & Agency Portfolio - Institutional Class, 3.61% <sup>(d)</sup> | 47922 | 47922 |
| **TOTAL MONEY MARKET FUNDS** (Cost $47,922) | **TOTAL MONEY MARKET FUNDS** (Cost $47,922) | 47922 |
| **TOTAL INVESTMENTS - 113.8% (**Cost $123,904,774**)** | **TOTAL INVESTMENTS - 113.8% (**Cost $123,904,774**)** | 135663979 |
| Liabilities in Excess of Other Assets - (13.8)% | Liabilities in Excess of Other Assets - (13.8)% | (16445909) |
| **TOTAL NET ASSETS - 100.0%** |  | $119218070 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| LLC - Limited Liability Company |
| PLC - Public Limited Company |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of January 31, 2026. The fair value of these securities was $15,398,751.

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

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

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

------

#### Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
AAM Transformers 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 January 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $119181249 | $– | $– | $119181249 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 16434808 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 47922 | – | – | 47922 |
| Total Investments | $119229171 | $– | $– | $135663979 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of
 $16,434,808 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ETF Series Solutions

- **b. Investment Company Act file number:** 811-22668

- **c. CIK number of Registrant:** 0001540305

- **d. LEI of Registrant:** 5493008BB0X0GYS3UI50

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 E Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1645

**Item A.2. Information about the Series.**

- **a. Name of Series:** AAM Transformers ETF

- **b. EDGAR series identifier (if any):** S000076555

- **c. LEI of Series:** 549300SAR48A6RXUJ642

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $135701257.64

**Total Liabilities:** $16484244.48

**Net Assets:** $119217013.16

**Cash Not Reported:** $474.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000236534 | -6.07%               | -0.29%               | 3.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-6627062.67                               |
| Month 2  | $5595802.09              | $-5536458.29                               |
| Month 3  | $-5.52                   | $3376593.25                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| American Electric Power Co Inc            | American Electric Power Co Inc            | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      4677 | NS      | $560187.68    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc                                 | Apple Inc                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3015 | NS      | $782332.20    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Appfolio Inc                              | Appfolio Inc                              | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      1521 | NS      | $288807.48    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Digital Corp                      | Applied Digital Corp                      | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |     11452 | NS      | $387993.76    | 0.33%             |  |  |  | No            | 1                  | On Loan: —       |
| AppLovin Corp                             | AppLovin Corp                             | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      1221 | NS      | $577667.31    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Hewlett Packard Enterprise Co             | Hewlett Packard Enterprise Co             | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     23570 | NS      | $507226.40    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Hexcel Corp                               | Hexcel Corp                               | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      4678 | NS      | $387385.18    | 0.32%             |  |  |  | No            | 1                  | On Loan: —       |
| Howmet Aerospace Inc                      | Howmet Aerospace Inc                      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      2881 | NS      | $599478.48    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Hubbell Inc                               | Hubbell Inc                               | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      1249 | NS      | $609437.06    | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| Li Auto Inc                               | Li Auto Inc                               | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | CN        |     19965 | NS      | $332017.95    | 0.28%             |  |  |  | No            | 1                  | On Loan: —       |
| Life360 Inc                               | Life360 Inc                               | CUSIP: 532206109<br>LEI: 254900VO9VDOQBQAHF07 | Long             | EC               | CORP              | US        |      4585 | NS      | $262674.65    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Sunrun Inc                                | Sunrun Inc                                | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               | CORP              | US        |     20345 | NS      | $386555.00    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Super Micro Computer Inc                  | Super Micro Computer Inc                  | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     15845 | NS      | $461247.95    | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Symbotic Inc                              | Symbotic Inc                              | CUSIP: 87151X101<br>LEI: 529900UN9QT55OG9I235 | Long             | EC               | CORP              | US        |      9211 | NS      | $500802.07    | 0.42%             |  |  |  | No            | 1                  | On Loan: —       |
| Synaptics Inc                             | Synaptics Inc                             | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      4600 | NS      | $379546.00    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Lincoln Electric Holdings Inc             | Lincoln Electric Holdings Inc             | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      1457 | NS      | $386614.95    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Lumentum Holdings Inc                     | Lumentum Holdings Inc                     | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      1659 | NS      | $650062.56    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| AvePoint Inc                              | AvePoint Inc                              | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26690 | NS      | $310404.70    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise Inc                       | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       997 | NS      | $482129.26    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| NIO Inc                                   | NIO Inc                                   | CUSIP: 62914V106<br>LEI: 549300JBU4TV5OCKJV96 | Long             | EC               | CORP              | CN        |     70531 | NS      | $331495.70    | 0.28%             |  |  |  | No            | 1                  | On Loan: —       |
| Nintendo Co Ltd                           | Nintendo Co Ltd                           | CUSIP: 654445303<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     23878 | NS      | $367721.20    | 0.31%             |  |  |  | No            | 1                  | On Loan: —       |
| Xylem Inc/NY                              | Xylem Inc/NY                              | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      3957 | NS      | $545551.59    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Xiaomi Corp                               | Xiaomi Corp                               | CUSIP: 98421U108<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | CN        |     17422 | NS      | $393737.20    | 0.33%             |  |  |  | No            | 1                  | On Loan: —       |
| XPeng Inc                                 | XPeng Inc                                 | CUSIP: 98422D105<br>LEI: 549300TZNMIREMWQU857 | Long             | EC               | CORP              | CN        |     17774 | NS      | $319576.52    | 0.27%             |  |  |  | No            | 1                  | On Loan: —       |
| Zeta Global Holdings Corp                 | Zeta Global Holdings Corp                 | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |     18776 | NS      | $348858.08    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Bilibili Inc                              | Bilibili Inc                              | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | CN        |     13779 | NS      | $469037.16    | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Axia Energia                              | Axia Energia                              | CUSIP: 15234Q207<br>LEI: 254900I8KYDELP4B4Z08 | Long             | EC               | CORP              | BR        |     30806 | NS      | $317917.92    | 0.27%             |  |  |  | No            | 1                  | On Loan: —       |
| Ambarella Inc                             | Ambarella Inc                             | CUSIP: N/A<br>LEI: 254900XN7F4DG0CEKC02       | Long             | EC               | CORP              | US        |      4828 | NS      | $309185.12    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| nVent Electric PLC                        | nVent Electric PLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |      3300 | NS      | $370458.00    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Corpay Inc                                | Corpay Inc                                | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      1770 | NS      | $556895.10    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Coupang Inc                               | Coupang Inc                               | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     20283 | NS      | $408905.28    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Crowdstrike Holdings Inc                  | Crowdstrike Holdings Inc                  | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1074 | NS      | $474068.97    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluence Energy Inc                        | Fluence Energy Inc                        | CUSIP: 34379V103<br>LEI: 25490043LHZ97BT5PP29 | Long             | EC               | CORP              | US        |     14927 | NS      | $459303.79    | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Fortis Inc/Canada                         | Fortis Inc/Canada                         | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      6958 | NS      | $371070.14    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                              | Fortinet Inc                              | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      6325 | NS      | $513969.50    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Fujitsu Ltd                               | Fujitsu Ltd                               | CUSIP: 359590304<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |     18247 | NS      | $506354.25    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| PPL Corp                                  | PPL Corp                                  | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     16238 | NS      | $588627.50    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinterest Inc                             | Pinterest Inc                             | CUSIP: 72352L106<br>LEI: 529900Y043CEBGO4HB65 | Long             | EC               | CORP              | US        |     13373 | NS      | $295944.49    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Plug Power Inc                            | Plug Power Inc                            | CUSIP: 72919P202<br>LEI: 549300JPDKRSJ8JSM954 | Long             | EC               | CORP              | US        |    163161 | NS      | $345085.52    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Power Integrations Inc                    | Power Integrations Inc                    | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      9796 | NS      | $450028.24    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Sandisk Corp/DE                           | Sandisk Corp/DE                           | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2408 | NS      | $1387610.00   | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Nova Ltd                                  | Nova Ltd                                  | CUSIP: N/A<br>LEI: 529900B2DSWE5V3SC292       | Long             | EC               | CORP              | IL        |      1095 | NS      | $501334.80    | 0.42%             |  |  |  | No            | 1                  | On Loan: —       |
| SAP SE                                    | SAP SE                                    | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      1924 | NS      | $386800.96    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE                     | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |      8693 | NS      | $495848.72    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Sea Ltd                                   | Sea Ltd                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |      3550 | NS      | $413539.50    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                              | Synopsys Inc                              | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1177 | NS      | $547440.36    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Take-Two Interactive Software             | Take-Two Interactive Software Inc         | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      2219 | NS      | $488845.70    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Credo Technology Group Holding            | Credo Technology Group Holding Ltd        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3123 | NS      | $391249.44    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| ABB Ltd                                   | ABB Ltd                                   | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |      6521 | NS      | $562175.41    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| ACM Research Inc                          | ACM Research Inc                          | CUSIP: 00108J109<br>LEI: 549300MCTENUWL2GJL61 | Long             | EC               | CORP              | US        |     10206 | NS      | $593172.72    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| ASE Technology Holding Co Ltd             | ASE Technology Holding Co Ltd             | CUSIP: 00215W100<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     31266 | NS      | $593428.68    | 0.50%             |  |  |  | No            | 1                  | On Loan: —       |
| Acuity Inc                                | Acuity Inc                                | CUSIP: 00508Y102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       962 | NS      | $297488.88    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Advantest Corp                            | Advantest Corp                            | CUSIP: 00762U200<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |      3640 | NS      | $602165.20    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Adyen NV                                  | Adyen NV                                  | CUSIP: 00783V104<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |     30341 | NS      | $448136.57    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc                | Advanced Micro Devices Inc                | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      3857 | NS      | $913067.61    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Energy Industries Inc            | Advanced Energy Industries Inc            | CUSIP: 007973100<br>LEI: 549300756XI3QLFT2U27 | Long             | EC               | CORP              | US        |      1631 | NS      | $416492.16    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| AeroVironment Inc                         | AeroVironment Inc                         | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      1284 | NS      | $357452.76    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Affirm Holdings Inc                       | Affirm Holdings Inc                       | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8086 | NS      | $487585.80    | 0.41%             |  |  |  | No            | 1                  | On Loan: —       |
| Airbus SE                                 | Airbus SE                                 | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |      8321 | NS      | $474713.05    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Alkami Technology Inc                     | Alkami Technology Inc                     | CUSIP: 01644J108<br>LEI: 254900FCNYU4HNEV9L47 | Long             | EC               | CORP              | US        |     16604 | NS      | $351838.76    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Allegro MicroSystems Inc                  | Allegro MicroSystems Inc                  | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12235 | NS      | $451593.85    | 0.38%             |  |  |  | No            | 1                  | On Loan: —       |
| Alphabet Inc                              | Alphabet Inc                              | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      2616 | NS      | $884208.00    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com Inc                            | Amazon.com Inc                            | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3663 | NS      | $876555.90    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| AMETEK Inc                                | AMETEK Inc                                | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      2752 | NS      | $616392.96    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Amphenol Corp                             | Amphenol Corp                             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      6031 | NS      | $868946.48    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc                        | Analog Devices Inc                        | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1955 | NS      | $607770.40    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                       | Arista Networks Inc                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      6534 | NS      | $926129.16    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| ARM Holdings PLC                          | ARM Holdings PLC                          | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      3366 | NS      | $354641.76    | 0.30%             |  |  |  | No            | 1                  | On Loan: —       |
| Astera Labs Inc                           | Astera Labs Inc                           | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |      3410 | NS      | $513614.20    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Guidewire Software Inc                    | Guidewire Software Inc                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      1701 | NS      | $239432.76    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| HEICO Corp                                | HEICO Corp                                | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      1763 | NS      | $583394.33    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Hesai Group                               | Hesai Group                               | CUSIP: 428050108<br>LEI: 836800KOYHURQT1JZY11 | Long             | EC               | CORP              | CN        |     17684 | NS      | $422117.08    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| HubSpot Inc                               | HubSpot Inc                               | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       943 | NS      | $264040.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Iberdrola SA                              | Iberdrola SA                              | CUSIP: 450737101<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |      5679 | NS      | $512927.28    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| ITT Inc                                   | ITT Inc                                   | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      1975 | NS      | $360042.50    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| IDACORP Inc                               | IDACORP Inc                               | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      2821 | NS      | $374600.59    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Impinj Inc                                | Impinj Inc                                | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      2259 | NS      | $311967.90    | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Infineon Technologies AG                  | Infineon Technologies AG                  | CUSIP: 45662N103<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     10881 | NS      | $533277.81    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| IBM                                       | International Business Machines Corp      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      2729 | NS      | $836984.30    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuit Inc                                | Intuit Inc                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      1245 | NS      | $621155.40    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuitive Machines Inc                    | Intuitive Machines Inc                    | CUSIP: 46125A100<br>LEI: 254900386IE2PEPLVM59 | Long             | EC               | CORP              | US        |     31915 | NS      | $606065.85    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                                  | KLA Corp                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       690 | NS      | $985278.60    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Karman Holdings Inc                       | Karman Holdings Inc                       | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5484 | NS      | $569239.20    | 0.48%             |  |  |  | No            | 1                  | On Loan: —       |
| Kingsoft Cloud Holdings Ltd               | Kingsoft Cloud Holdings Ltd               | CUSIP: 49639K101<br>LEI: 875500HZE0VKCD0Z8K15 | Long             | EC               | CORP              | CN        |     29973 | NS      | $395943.33    | 0.33%             |  |  |  | No            | 1                  | On Loan: —       |
| Tokyo Electron Ltd                        | Tokyo Electron Ltd                        | CUSIP: 889110102<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      4456 | NS      | $592558.88    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| TransDigm Group Inc                       | TransDigm Group Inc                       | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       408 | NS      | $582436.32    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Klaviyo Inc                               | Klaviyo Inc                               | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12128 | NS      | $269362.88    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Kratos Defense & Security Solu            | Kratos Defense & Security Solutions Inc   | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |      4675 | NS      | $481571.75    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      5303 | NS      | $1238038.38   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Lattice Semiconductor Corp                | Lattice Semiconductor Corp                | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |      4537 | NS      | $365319.24    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Lenovo Group Ltd                          | Lenovo Group Ltd                          | CUSIP: 526250105<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | CN        |     13803 | NS      | $312085.83    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Leonardo SpA                              | Leonardo SpA                              | CUSIP: 52660W101<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |     17338 | NS      | $576141.74    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| MACOM Technology Solutions Hol            | MACOM Technology Solutions Holdings Inc   | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1943 | NS      | $425633.58    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Marqeta Inc                               | Marqeta Inc                               | CUSIP: 57142B104<br>LEI: 254900UZARK0FMZGZE18 | Long             | EC               | CORP              | US        |     76747 | NS      | $316965.11    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                    | Marvell Technology Inc                    | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5559 | NS      | $438716.28    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Meituan                                   | Meituan                                   | CUSIP: 58533E103<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |     18704 | NS      | $461801.76    | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| MercadoLibre Inc                          | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       230 | NS      | $493991.70    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Government & Agency Po            | Invesco Government & Agency Portfolio     | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |     47922 | NS      | $47921.93     | 0.04%             | 2031-12-31      | Fixed         | 0.06%                 | No            | 1                  | On Loan: No      |
| JFrog Ltd                                 | JFrog Ltd                                 | CUSIP: N/A<br>LEI: 2549002N8E00AY49G567       | Long             | EC               | CORP              | US        |      5522 | NS      | $302605.60    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                           | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       432 | NS      | $614736.00    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlas Copco AB                            | Atlas Copco AB                            | CUSIP: 049255706<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |     26540 | NS      | $548051.00    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlassian Corp                            | Atlassian Corp                            | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | AU        |      2986 | NS      | $352885.48    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Autodesk Inc                              | Autodesk Inc                              | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1797 | NS      | $454407.39    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| BWX Technologies Inc                      | BWX Technologies Inc                      | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      2012 | NS      | $413325.16    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Bloom Energy Corp                         | Bloom Energy Corp                         | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |      4614 | NS      | $698421.18    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Boeing Co/The                             | Boeing Co/The                             | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      4164 | NS      | $973210.08    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2147 | NS      | $711301.10    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Cadence Design Systems Inc                | Cadence Design Systems Inc                | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1630 | NS      | $483066.80    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Calix Inc                                 | Calix Inc                                 | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |      6597 | NS      | $294687.99    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Chagee Holdings Ltd                       | Chagee Holdings Ltd                       | CUSIP: 15743P104<br>LEI: 984500EBA7IRCB66FD03 | Long             | EC               | CORP              | CN        |     24380 | NS      | $285733.60    | 0.24%             |  |  |  | No            | 1                  | On Loan: —       |
| Chart Industries Inc                      | Chart Industries Inc                      | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      1744 | NS      | $361600.96    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Chime Financial Inc                       | Chime Financial Inc                       | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14816 | NS      | $376622.72    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Ciena Corp                                | Ciena Corp                                | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |      2726 | NS      | $686434.06    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Circle Internet Group Inc                 | Circle Internet Group Inc                 | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |      6423 | NS      | $410622.39    | 0.34%             |  |  |  | No            | 1                  | On Loan: —       |
| Clearwater Analytics Holdings             | Clearwater Analytics Holdings Inc         | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16475 | NS      | $396882.75    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                            | Cloudflare Inc                            | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      2736 | NS      | $485229.60    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                             | Coherent Corp                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      3025 | NS      | $641844.50    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Confluent Inc                             | Confluent Inc                             | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |     15455 | NS      | $471995.70    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Energy Corp                 | Constellation Energy Corp                 | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      1529 | NS      | $429159.72    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| CoreWeave Inc                             | CoreWeave Inc                             | CUSIP: 21873S108<br>LEI: 984500511DP2B6186053 | Long             | EC               | CORP              | US        |      6225 | NS      | $580107.75    | 0.49%             |  |  |  | No            | 1                  | On Loan: —       |
| Corning Inc                               | Corning Inc                               | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      6397 | NS      | $660490.25    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Daqo New Energy Corp                      | Daqo New Energy Corp                      | CUSIP: 23703Q203<br>LEI: 529900711JBZ5O7VA827 | Long             | EC               | CORP              | CN        |     11418 | NS      | $282252.96    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Datadog Inc                               | Datadog Inc                               | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      3631 | NS      | $469560.92    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Dell Technologies Inc                     | Dell Technologies Inc                     | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      3959 | NS      | $453067.96    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| DigitalOcean Holdings Inc                 | DigitalOcean Holdings Inc                 | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               | CORP              | US        |      7397 | NS      | $408684.25    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Diodes Inc                                | Diodes Inc                                | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      6822 | NS      | $403794.18    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Donaldson Co Inc                          | Donaldson Co Inc                          | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      3871 | NS      | $394609.74    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| DoorDash Inc                              | DoorDash Inc                              | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      2444 | NS      | $500091.28    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Dynatrace Inc                             | Dynatrace Inc                             | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |      8048 | NS      | $306548.32    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Embraer SA                                | Embraer SA                                | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |      5746 | NS      | $422101.16    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Emera Inc                                 | Emera Inc                                 | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |      7488 | NS      | $371105.28    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Entergy Corp                              | Entergy Corp                              | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      5836 | NS      | $559614.04    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Eos Energy Enterprises Inc                | Eos Energy Enterprises Inc                | CUSIP: 29415C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23842 | NS      | $349046.88    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Esab Corp                                 | Esab Corp                                 | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |      3237 | NS      | $392000.70    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Extreme Networks Inc                      | Extreme Networks Inc                      | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     20334 | NS      | $296469.72    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Fair Isaac Corp                           | Fair Isaac Corp                           | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       306 | NS      | $447730.02    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| FANUC Corp                                | FANUC Corp                                | CUSIP: 307305102<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |     24802 | NS      | $497528.12    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| First Solar Inc                           | First Solar Inc                           | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      2135 | NS      | $481485.20    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Flowserve Corp                            | Flowserve Corp                            | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      4959 | NS      | $387545.85    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| GE Vernova Inc                            | GE Vernova Inc                            | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      1329 | NS      | $965345.73    | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Generac Holdings Inc                      | Generac Holdings Inc                      | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      2205 | NS      | $370528.20    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| General Electric Co                       | General Electric Co                       | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2966 | NS      | $909939.14    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Gitlab Inc                                | Gitlab Inc                                | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               | CORP              | US        |      9577 | NS      | $335003.46    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Business Travel Group I            | Global Business Travel Group I            | CUSIP: 37890B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45127 | NS      | $309119.95    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Graco Inc                                 | Graco Inc                                 | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      4285 | NS      | $374209.05    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Ollie's Bargain Outlet Holding            | Ollie's Bargain Outlet Holdings Inc       | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      2946 | NS      | $324973.26    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Onto Innovation Inc                       | Onto Innovation Inc                       | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      2282 | NS      | $461078.10    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                               | Oracle Corp                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      3853 | NS      | $634126.74    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Ormat Technologies Inc                    | Ormat Technologies Inc                    | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      3176 | NS      | $396809.44    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| PTC Inc                                   | PTC Inc                                   | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |      3169 | NS      | $494775.97    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc                 | Palantir Technologies Inc                 | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      4625 | NS      | $677978.75    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Palo Alto Networks Inc                    | Palo Alto Networks Inc                    | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2768 | NS      | $489852.96    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Pampa Energia SA                          | Pampa Energia SA                          | CUSIP: 697660207<br>LEI: 254900QNIK0CVURGML24 | Long             | EC               | CORP              | AR        |      3921 | NS      | $339715.44    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Parker-Hannifin Corp                      | Parker-Hannifin Corp                      | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       624 | NS      | $583964.16    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Paymentus Holdings Inc                    | Paymentus Holdings Inc                    | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10164 | NS      | $271683.72    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| PDD Holdings Inc                          | PDD Holdings Inc                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | IE        |      4045 | NS      | $408747.25    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinnacle West Capital Corp                | Pinnacle West Capital Corp                | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      4057 | NS      | $379572.92    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Prysmian SpA                              | Prysmian SpA                              | CUSIP: 74440L106<br>LEI: 529900X0H1IO3RS1A464 | Long             | EC               | CORP              | IT        |      7215 | NS      | $428210.25    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Pure Storage Inc                          | Pure Storage Inc                          | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      7811 | NS      | $543176.94    | 0.46%             |  |  |  | No            | 1                  | On Loan: —       |
| Rambus Inc                                | Rambus Inc                                | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      3520 | NS      | $400681.60    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| RBC Bearings Inc                          | RBC Bearings Inc                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       806 | NS      | $402734.02    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Reddit Inc                                | Reddit Inc                                | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |      2349 | NS      | $423454.23    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Remitly Global Inc                        | Remitly Global Inc                        | CUSIP: 75960P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26631 | NS      | $352061.82    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Rheinmetall AG                            | Rheinmetall AG                            | CUSIP: 76206K107<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      1340 | NS      | $564568.80    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Rivian Automotive Inc                     | Rivian Automotive Inc                     | CUSIP: 76954A103<br>LEI: 25490004LNKJ84MFYY24 | Long             | EC               | CORP              | US        |     30740 | NS      | $453415.00    | 0.38%             |  |  |  | No            | 1                  | On Loan: —       |
| ROBLOX Corp                               | ROBLOX Corp                               | CUSIP: 771049103<br>LEI: 529900ANZDBDFU91SO19 | Long             | EC               | CORP              | US        |      5712 | NS      | $375621.12    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Rocket Lab Corp                           | Rocket Lab Corp                           | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11245 | NS      | $900387.15    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Rockwell Automation Inc                   | Rockwell Automation Inc                   | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      1361 | NS      | $573865.65    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Roku Inc                                  | Roku Inc                                  | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      3578 | NS      | $340625.60    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Rolls-Royce Holdings PLC                  | Rolls-Royce Holdings PLC                  | CUSIP: 775781206<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |     32677 | NS      | $549627.14    | 0.46%             |  |  |  | No            | 1                  | On Loan: —       |
| Rubrik Inc                                | Rubrik Inc                                | CUSIP: 781154109<br>LEI: 254900TRGK2WTBYMYU27 | Long             | EC               | CORP              | US        |      4147 | NS      | $232024.65    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| SMC Corp                                  | SMC Corp                                  | CUSIP: 78445W306<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     19677 | NS      | $382127.34    | 0.32%             |  |  |  | No            | 1                  | On Loan: —       |
| Safran SA                                 | Safran SA                                 | CUSIP: 786584102<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |      5580 | NS      | $496173.60    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| SailPoint Inc                             | SailPoint Inc                             | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17670 | NS      | $277242.30    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Samsara Inc                               | Samsara Inc                               | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12159 | NS      | $341059.95    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Semtech Corp                              | Semtech Corp                              | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |      4492 | NS      | $358237.00    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| SentinelOne Inc                           | SentinelOne Inc                           | CUSIP: 81730H109<br>LEI: 984500DCD44DBF954221 | Long             | EC               | CORP              | US        |     24631 | NS      | $344341.38    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| ServiceNow Inc                            | ServiceNow Inc                            | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      4906 | NS      | $574051.06    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| ServiceTitan Inc                          | ServiceTitan Inc                          | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3388 | NS      | $265415.92    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Shift4 Payments Inc                       | Shift4 Payments Inc                       | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5194 | NS      | $306653.76    | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Shopify Inc                               | Shopify Inc                               | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      2952 | NS      | $387390.96    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Siemens Energy AG                         | Siemens Energy AG                         | CUSIP: 82621A203<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |      3478 | NS      | $590390.50    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Silicon Laboratories Inc                  | Silicon Laboratories Inc                  | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |      2528 | NS      | $360113.60    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Silicon Motion Technology Corp            | Silicon Motion Technology Corp            | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | TW        |      3856 | NS      | $458594.08    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| SiTime Corp                               | SiTime Corp                               | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1015 | NS      | $368556.65    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Snap Inc                                  | Snap Inc                                  | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |     45214 | NS      | $313333.02    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                             | Snowflake Inc                             | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      2405 | NS      | $463443.50    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| SoundHound AI Inc                         | SoundHound AI Inc                         | CUSIP: 836100107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28029 | NS      | $237125.34    | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Southern Co/The                           | Southern Co/The                           | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      6374 | NS      | $569261.94    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Dlocal Ltd/Uruguay                        | Dlocal Ltd/Uruguay                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | UY        |     26749 | NS      | $360041.54    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Corp PLC                            | Eaton Corp PLC                            | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      1410 | NS      | $495502.20    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Fabrinet                                  | Fabrinet                                  | CUSIP: N/A<br>LEI: 5493004TETZ6IYF7CV44       | Long             | EC               | CORP              | TH        |       744 | NS      | $364143.36    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Grab Holdings Ltd                         | Grab Holdings Ltd                         | CUSIP: N/A<br>LEI: 549300N4VQX83VPJF439       | Long             | EC               | CORP              | SG        |     68493 | NS      | $294519.90    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Seagate Technology Holdings PL            | Seagate Technology Holdings PLC           | CUSIP: N/A<br>LEI: 635400RUXIFEZSRU8X70       | Long             | EC               | CORP              | US        |      1972 | NS      | $803964.68    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Camtek Ltd/Israel                         | Camtek Ltd/Israel                         | CUSIP: N/A<br>LEI: 5493000H80W07HCKGS43       | Long             | EC               | CORP              | IL        |      3036 | NS      | $444865.08    | 0.37%             |  |  |  | No            | 1                  | On Loan: —       |
| CyberArk Software Ltd                     | CyberArk Software Ltd                     | CUSIP: N/A<br>LEI: 529900YEXNDM894PWS93       | Long             | EC               | CORP              | IL        |       744 | NS      | $320537.52    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Global-e Online Ltd                       | Global-e Online Ltd                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      8743 | NS      | $319556.65    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| SSE PLC                                   | SSE PLC                                   | CUSIP: 78467K107<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |     16416 | NS      | $549279.36    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Standex International Corp                | Standex International Corp                | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |      1476 | NS      | $354240.00    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Spotify Technology SA                     | Spotify Technology SA                     | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | SE        |       843 | NS      | $421795.05    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms Inc                        | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1248 | NS      | $894192.00    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Mercury Systems Inc                       | Mercury Systems Inc                       | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |      5077 | NS      | $476628.76    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1740 | NS      | $748704.60    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Microchip Technology Inc                  | Microchip Technology Inc                  | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      8356 | NS      | $634387.52    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                     | Micron Technology Inc                     | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      3550 | NS      | $1472824.00   | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Mirion Technologies Inc                   | Mirion Technologies Inc                   | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |     14293 | NS      | $355038.12    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsubishi Heavy Industries Lt            | Mitsubishi Heavy Industries Ltd           | CUSIP: 606793404<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |     17893 | NS      | $524801.69    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Mobileye Global Inc                       | Mobileye Global Inc                       | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     30381 | NS      | $272821.38    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| MongoDB Inc                               | MongoDB Inc                               | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      1343 | NS      | $498696.19    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc              | Monolithic Power Systems Inc              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       572 | NS      | $643013.80    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Mueller Water Products Inc                | Mueller Water Products Inc                | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     14561 | NS      | $394166.27    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Netflix Inc                               | Netflix Inc                               | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      8384 | NS      | $699980.16    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Nextpower Inc                             | Nextpower Inc                             | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3950 | NS      | $462505.50    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy Inc                        | NextEra Energy Inc                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     10111 | NS      | $888756.90    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| MINISO Group Holding Ltd                  | MINISO Group Holding Ltd                  | CUSIP: 66981J102<br>LEI: 2549006PIKT2YKNBL092 | Long             | EC               | CORP              | CN        |     18437 | NS      | $340347.02    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| NVIDIA Corp                               | NVIDIA Corp                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      4614 | NS      | $881873.82    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Obic Co Ltd                               | Obic Co Ltd                               | CUSIP: 674388103<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     22079 | NS      | $307560.47    | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| TXNM Energy Inc                           | TXNM Energy Inc                           | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |      6141 | NS      | $361827.72    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| TSMC                                      | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1615 | NS      | $533854.40    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Talen Energy Corp                         | Talen Energy Corp                         | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1009 | NS      | $351495.24    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Techtronic Industries Co Ltd              | Techtronic Industries Co Ltd              | CUSIP: 87873R101<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |      5775 | NS      | $394028.25    | 0.33%             |  |  |  | No            | 1                  | On Loan: —       |
| Tencent Holdings Ltd                      | Tencent Holdings Ltd                      | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      6083 | NS      | $464680.37    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradyne Inc                              | Teradyne Inc                              | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      2739 | NS      | $660235.95    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Tesla Inc                                 | Tesla Inc                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1847 | NS      | $794967.27    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Instruments Inc                     | Texas Instruments Inc                     | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      4603 | NS      | $992176.65    | 0.83%             |  |  |  | No            | 1                  | On Loan: —       |
| Thales SA                                 | Thales SA                                 | CUSIP: 883219206<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |      9090 | NS      | $555726.24    | 0.47%             |  |  |  | No            | 1                  | On Loan: —       |
| Toast Inc                                 | Toast Inc                                 | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     15415 | NS      | $479560.65    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Trip.com Group Ltd                        | Trip.com Group Ltd                        | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | SG        |      6628 | NS      | $406760.36    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Vnet Group Inc                            | Vnet Group Inc                            | CUSIP: 90138A103<br>LEI: 529900672GYJQ3T38I58 | Long             | EC               | CORP              | CN        |     39763 | NS      | $418704.39    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| Uber Technologies Inc                     | Uber Technologies Inc                     | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      9205 | NS      | $736860.25    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Display Corp                    | Universal Display Corp                    | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2948 | NS      | $338489.36    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Viavi Solutions Inc                       | Viavi Solutions Inc                       | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |     19510 | NS      | $477214.60    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Visa Inc                                  | Visa Inc                                  | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2537 | NS      | $816482.71    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                               | Vistra Corp                               | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      3290 | NS      | $520971.50    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Watts Water Technologies Inc              | Watts Water Technologies Inc              | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      1314 | NS      | $393293.34    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| WeRide Inc                                | WeRide Inc                                | CUSIP: 950915108<br>LEI: 254900R1B7IWBCPDQ262 | Long             | EC               | CORP              | CN        |     37357 | NS      | $299229.57    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Western Digital Corp                      | Western Digital Corp                      | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      3259 | NS      | $815499.57    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Woodward Inc                              | Woodward Inc                              | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      1179 | NS      | $374733.36    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Workday Inc                               | Workday Inc                               | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2501 | NS      | $439250.63    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Workiva Inc                               | Workiva Inc                               | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |      3884 | NS      | $299145.68    | 0.25%             |  |  |  | No            | 1                  | On Loan: —       |
| Xcel Energy Inc                           | Xcel Energy Inc                           | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      7124 | NS      | $541851.44    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Zscaler Inc                               | Zscaler Inc                               | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      2265 | NS      | $453022.65    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  16434808 | NS      | $16434808.00  | 13.79%            |  |  |  | No            | N/A                | On Loan: No      |
| Monday.com Ltd                            | Monday.com Ltd                            | CUSIP: N/A<br>LEI: 984500MDAFVD86E3B328       | Long             | EC               | CORP              | IL        |      2264 | NS      | $259794.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| NXP Semiconductors NV                     | NXP Semiconductors NV                     | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |      2088 | NS      | $472180.32    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Nebius Group NV                           | Nebius Group NV                           | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |      3624 | NS      | $308728.56    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer