# EDGAR Filing Document

**Accession Number:** 0001969674
**File Stem:** 0001003715-26-000554
**Filing Date:** 2026-2
**Character Count:** 51777
**Document Hash:** df55fbd3ed274173ef1c54262dcfa018
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-26-000554.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001003715-26-000554

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 2023 ETF Series Trust
- **CENTRAL INDEX KEY:** 0001969674

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23883
- **FILM NUMBER:** 26693268

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **BUSINESS PHONE:** (833) 782-2211

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI

## Series and Classes Contracts Data

### Pictet Cleaner Planet ETF (Series ID: S000095126)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000263749 | Pictet Cleaner Planet ETF |  |

## Nport-Ex

The accompanying notes are an integral part of these consolidated financial statements.1

**Schedule of Investments** **Pictet AI &** **Automation ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0%** | **Shares** | **Value** |
|  **Computers - 10.4%** |  |  |
|  Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 665 | $311725<br>|
|  CyberArk Software Ltd. <sup>(a)</sup> | 176 | 78507 |
|  Fortinet, Inc. <sup>(a)</sup> | 2407 | 191140 |
|  Okta, Inc. - Class A <sup>(a)</sup> | 1611 | 139303 |
|  Rubrik, Inc. - Class A <sup>(a)</sup> | 1322 | 101107 |
|  Zscaler, Inc. <sup>(a)</sup> | 999 | 224695 |
|  |  | 1046477 |
|  **Healthcare - Products - 1.9%** |  |  |
|  Intuitive Surgical, Inc. <sup>(a)</sup> | 346 | 195961 |
|  **Internet - 20.7%** |  |  |
|  Alphabet, Inc. - Class A | 2479 | 775927 |
|  Booking Holdings, Inc. | 28 | 149949 |
|  Meta Platforms, Inc. - Class A | 438 | 289120 |
|  Netflix, Inc. <sup>(a)</sup> | 1846 | 173081 |
|  Palo Alto Networks, Inc. <sup>(a)</sup> | 2372 | 436922 |
|  Pinterest, Inc. - Class A <sup>(a)</sup> | 3497 | 90537 |
|  Tencent Holdings Ltd. | 2176 | 167460 |
|  |  | 2082996 |
|  **REITS - 3.0%** |  |  |
|  Digital Realty Trust, Inc. | 723 | 111855 |
|  Equinix, Inc. | 129 | 98835 |
|  Extra Space Storage, Inc. | 705 | 91805 |
|  |  | 302495 |
|  **Semiconductors - 37.5%** |  |  |
|  Advanced Micro Devices, Inc. <sup>(a)</sup> | 521 | 111577 |
|  Applied Materials, Inc. | 246 | 63220 |
|  ASM International NV | 262 | 159269 |
|  ASML Holding NV | 272 | 294342 |
|  BE Semiconductor Industries NV | 368 | 57806 |
|  Broadcom, Inc. | 1184 | 409782 |
|  Infineon Technologies AG | 5052 | 223864 |
|  KLA Corp. | 361 | 438644 |
|  Lam Research Corp. | 1131 | 193605 |
|  Microchip Technology, Inc. | 2021 | 128778 |
|  Micron Technology, Inc. | 539 | 153836 |
|  NVIDIA Corp. | 2503 | 466809 |
|  NXP Semiconductors NV | 1519 | 329714 |
|  SK hynix, Inc. | 235 | 106199 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 1797 | 546090 |
|  Tokyo Electron Ltd. | 448 | 98092 |
|  |  | 3781627 |
|  **Software - 26.** **5%** |  |  |
|  Adobe, Inc. <sup>(a)</sup> | 314 | 109897 |
|  Atlassian Corp. - Class A <sup>(a)</sup> | 906 | 146899 |
|  Cadence Design Systems, Inc. <sup>(a)</sup> | 207 | 64704 |
|  Cloudflare, Inc. - Class A <sup>(a)</sup> | 756 | 149045 |

---

The accompanying notes are an integral part of these consolidated financial statements.2

**Schedule of Investments** **Pictet AI &** **Automation ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0% (continued)** | **Shares** | **Value** |
|  **Software - 26.5% (continued)** |  |  |
|  Confluent, Inc. - Class A <sup>(a)</sup> | 3496 | $105719<br>|
|  Datadog, Inc. - Class A <sup>(a)</sup> | 415 | 56436 |
|  Elastic NV <sup>(a)</sup> | 812 | 61257 |
|  Gitlab, Inc. - Class A <sup>(a)</sup> | 1481 | 55582 |
|  HubSpot, Inc. <sup>(a)</sup> | 403 | 161724 |
|  Microsoft Corp. | 859 | 415430 |
|  MongoDB, Inc. - Class A <sup>(a)</sup> | 233 | 97788 |
|  Salesforce, Inc. | 1340 | 354979 |
|  SAP SE | 1719 | 420633 |
|  Snowflake, Inc. - Class A <sup>(a)</sup> | 817 | 179217 |
|  Synopsys, Inc. <sup>(a)</sup> | 197 | 92535 |
|  Twilio, Inc. - Class A <sup>(a)</sup> | 803 | 114219 |
|  Veeva Systems, Inc. - Class A <sup>(a)</sup> | 377 | 84158 |
|  |  | 2670222 |
|  **TOTAL COMMON STOCKS** (Cost $9,953,222) |  | 10079778 |
|  **TOTAL INVESTMENTS** - 100.0% (Cost $9,953,222) |  | 10079778 |
|  Other Assets in Excess of Liabilities - 0.0% <sup>(b)</sup> |  | 1539 |
|  **TOTAL NET ASSETS - 100.0%** |  | $10081317<br>|

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

REIT - Real Estate Investment Trust

(a)Non-income producing security.

(b)Less than 0.05%.

---

| | |
|:---|:---|
| **Summary of Investment Type** | **Summary of Investment Type** |
| **Sector** | **Percentage of<br>Net Assets** |
|  Semiconductors | 37.5% |
|  Software | 26.5% |
|  Internet | 20.7% |
|  Computers | 10.4% |
|  REITS | 3.0% |
|  Healthcare - Products | 1.9% |
|  **Total Investments** | **100.0%** |
|  Other Assets in Excess of Liabilities | 0.0<br> % <sup>(a)</sup> |
|  **Total Net Assets** | **100.0%** |

---

(a)Less than 0.05%.

The accompanying notes are an integral part of these consolidated financial statements.3

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9%** | **Shares** | **Value** |
|  **Aerospace & Defense - 2.4%** |  |  |
|  Airbus SE | 138 | $32156<br>|
|  Leonardo SpA | 590 | 34064 |
|  Rheinmetall AG | 19 | 34833 |
|  Rolls-Royce Holdings PLC | 6908 | 106853 |
|  Safran S.A. | 49 | 17115 |
|  |  | 225021 |
|  **Agriculture - 1.** **9%** |  |  |
|  British American Tobacco PLC | 1943 | 110130 |
|  Imperial Brands PLC | 672 | 28192 |
|  Japan Tobacco, Inc. | 1048 | 37709 |
|  Wilmar International Ltd. | 1400 | 3353 |
|  |  | 179384 |
|  **Airlines - 0.1%** |  |  |
|  International Consolidated Airlines Group S.A. | 1509 | 8416 |
|  **Apparel - 0.8%** |  |  |
|  Hermes International SCA | 30 | 74765 |
|  **Auto Manufacturers - 2.1%** |  |  |
|  Bayerische Motoren Werke AG | 60 | 6564 |
|  Bayerische Motoren Werke AG - Class Preference | 26 | 2794 |
|  Ferrari NV | 149 | 55770 |
|  Honda Motor Co. Ltd. | 1900 | 18619 |
|  Toyota Motor Corp. | 5454 | 116773 |
|  |  | 200520 |
|  **Auto Parts & Equipment - 0.7%** |  |  |
|  Aisin Corp. | 912 | 17024 |
|  Bridgestone Corp. | 1476 | 33090 |
|  Continental AG | 99 | 7902 |
|  Toyota Industries Corp. | 100 | 11356 |
|  |  | 69372 |
|  **Banks - 16.3%** |  |  |
|  ABN AMRO Bank NV - 144A | 2722 | 95234 |
|  Banco Bilbao Vizcaya Argentaria S.A. | 2779 | 65439 |
|  Bank Hapoalim BM | 120 | 2713 |
|  Bank Leumi Le-Israel BM | 386 | 8502 |
|  Bank of Ireland Group PLC | 213 | 4096 |
|  BNP Paribas S.A. | 1120 | 106270 |
|  BOC Hong Kong Holdings Ltd. | 1383 | 7004 |
|  CaixaBank S.A. | 240 | 2944 |
|  Commerzbank AG | 1457 | 61773 |
|  Commonwealth Bank of Australia | 535 | 57286 |
|  Computershare Ltd. | 109 | 2482 |
|  Credit Agricole S.A. | 523 | 10780 |
|  DBS Group Holdings Ltd. | 998 | 43738 |
|  Deutsche Bank AG | 1681 | 65367 |
|  DNB Bank ASA | 210 | 5861 |

---

The accompanying notes are an integral part of these consolidated financial statements.4

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Banks - 16.3% (continued)** |  |  |
|  Erste Group Bank AG | 142 | $17161<br>|
|  HSBC Holdings PLC | 7987 | 126100 |
|  ING Groep NV | 4747 | 133859 |
|  Intesa Sanpaolo SpA | 2795 | 19436 |
|  Israel Discount Bank Ltd. - Class A | 1564 | 16596 |
|  KBC Group NV | 657 | 85842 |
|  Lloyds Banking Group PLC | 49561 | 65489 |
|  Macquarie Group Ltd. | 758 | 102712 |
|  Mizrahi Tefahot Bank Ltd. | 53 | 3698 |
|  National Australia Bank Ltd. | 674 | 19017 |
|  Nordea Bank Abp | 3611 | 68216 |
|  Oversea-Chinese Banking Corp. Ltd. | 700 | 10756 |
|  Societe Generale S.A. | 1102 | 88940 |
|  Standard Chartered PLC | 304 | 7450 |
|  UBS Group AG | 2220 | 103567 |
|  UniCredit SpA | 1697 | 141347 |
|  |  | 1549675 |
|  **Beverages - 1.0%** |  |  |
|  Anheuser-Busch InBev S.A./NV | 542 | 34947 |
|  Diageo PLC | 2285 | 49282 |
|  Pernod Ricard S.A. | 108 | 9272 |
|  |  | 93501 |
|  **Biotechnology - 0.9%** |  |  |
|  Argenx SE <sup>(a)</sup> | 55 | 46301 |
|  CSL Ltd. | 301 | 34655 |
|  Genmab <sup>(a)</sup> | 5 | 1594 |
|  |  | 82550 |
|  **Building Materials - 1.4%** |  |  |
|  Cie de Saint-Gobain S.A. | 56 | 5719 |
|  Heidelberg Materials AG | 4 | 1048 |
|  Mitsubishi Electric Corp. | 200 | 5850 |
|  Nibe Industrier AB - Class B | 4546 | 17565 |
|  ROCKWOOL - Class B | 520 | 18430 |
|  Sika AG | 434 | 89074 |
|  |  | 137686 |
|  **Chemicals - 0.6%** |  |  |
|  Air Liquide S.A. | 318 | 59853 |
|  **Commercial Services - 2.** **9%** |  |  |
|  Brambles Ltd. | 510 | 7809 |
|  Experian PLC | 2084 | 94268 |
|  Recruit Holdings Co. Ltd. | 1826 | 103063 |
|  RELX PLC | 1285 | 52197 |
|  Securitas AB - Class B | 121 | 1932 |
|  Wolters Kluwer NV | 128 | 13280 |
|  |  | 272549 |

---

The accompanying notes are an integral part of these consolidated financial statements.5

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Computers - 0.6%** |  |  |
|  CyberArk Software Ltd. <sup>(a)</sup> | 22 | $9813<br>|
|  Logitech International S.A. | 136 | 13998 |
|  Nomura Research Institute Ltd. | 521 | 20013 |
|  Obic Co. Ltd. | 566 | 17773 |
|  |  | 61597 |
|  **Cosmetics & Personal Care - 0.** **6%** |  |  |
|  Haleon PLC | 4631 | 23346 |
|  L'Oreal S.A. | 52 | 22389 |
|  Unicharm Corp. | 2318 | 13235 |
|  |  | 58970 |
|  **Distribution & Wholesale - 2.8%** |  |  |
|  AddTech AB - Class B | 135 | 4795 |
|  IMCD NV | 415 | 37695 |
|  ITOCHU Corp. | 3205 | 40383 |
|  Mitsubishi Corp. | 1072 | 24525 |
|  Mitsui & Co. Ltd. | 3670 | 108710 |
|  SGH Ltd. | 155 | 4801 |
|  Sumitomo Corp. | 1325 | 45749 |
|  |  | 266658 |
|  **Diversified Financial Services - 2.4%** |  |  |
|  AerCap Holdings NV | 106 | 15238 |
|  Daiwa Securities Group, Inc. | 5981 | 52295 |
|  Deutsche Boerse AG | 208 | 54647 |
|  Euronext NV - 144A | 91 | 13680 |
|  Hong Kong Exchanges & Clearing Ltd. | 668 | 34981 |
|  Mitsubishi HC Capital, Inc. | 2605 | 21788 |
|  ORIX Corp. | 871 | 25306 |
|  Schroders PLC | 1233 | 6750 |
|  |  | 224685 |
|  **Electric - 4.1%** |  |  |
|  E.ON SE | 126 | 2386 |
|  EDP Renovaveis S.A. | 288 | 4072 |
|  EDP S.A. | 5075 | 23335 |
|  Enel SpA | 7375 | 76889 |
|  Engie S.A. | 1386 | 36479 |
|  Iberdrola S.A. | 5878 | 127471 |
|  National Grid PLC | 5526 | 84845 |
|  RWE AG | 69 | 3668 |
|  Terna - Rete Elettrica Nazionale | 2718 | 28902 |
|  |  | 388047 |
|  **Electrical Components & Equipment - 1.4%** |  |  |
|  ABB Ltd. | 1413 | 105621 |
|  Legrand S.A. | 59 | 8817 |
|  Schneider Electric SE | 61 | 16829 |
|  |  | 131267 |

---

The accompanying notes are an integral part of these consolidated financial statements.6

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Electronics - 1.4%** |  |  |
|  Assa Abloy AB - Class B | 780 | $30366<br>|
|  Halma PLC | 18 | 857 |
|  Kyocera Corp. | 844 | 11827 |
|  NIDEC Corp. | 2029 | 27598 |
|  TDK Corp. | 4460 | 62912 |
|  |  | 133560 |
|  **Energy - Alternate Sources - 0.1%** |  |  |
|  Vestas Wind Systems | 189 | 5153 |
|  **Engineering & Construction - 0.8%** |  |  |
|  ACS Actividades de Construccion y Servicios S.A. | 354 | 35277 |
|  Bouygues S.A. | 82 | 4271 |
|  Ferrovial SE | 162 | 10529 |
|  Kajima Corp. | 54 | 2010 |
|  Keppel Ltd. | 2595 | 20885 |
|  |  | 72972 |
|  **Entertainment - 1.1%** |  |  |
|  Aristocrat Leisure Ltd. | 2303 | 89351 |
|  Entain PLC | 1071 | 11043 |
|  |  | 100394 |
|  **Food - 2.4%** |  |  |
|  Aeon Co. Ltd. | 3567 | 56368 |
|  Ajinomoto Co., Inc. | 898 | 19003 |
|  Carrefour S.A. | 1026 | 17147 |
|  Danone S.A. | 170 | 15330 |
|  J Sainsbury PLC | 1918 | 8384 |
|  Jeronimo Martins SGPS S.A. | 74 | 1761 |
|  Kobe Bussan Co. Ltd. | 368 | 8898 |
|  Nestle S.A. | 268 | 26636 |
|  Orkla ASA | 234 | 2610 |
|  Tesco PLC | 9945 | 59098 |
|  WH Group Ltd. - 144A | 9054 | 10085 |
|  |  | 225320 |
|  **Food Service - 1.2%** |  |  |
|  Compass Group PLC | 3550 | 112879 |
|  **Gas - 0.4%** |  |  |
|  Snam SpA | 6229 | 41377 |
|  **Hand & Machine Tools - 0.6%** |  |  |
|  Makita Corp. | 172 | 5198 |
|  Schindler Holding AG | 121 | 42993 |
|  Schindler Holding AG - Participation Certificate | 18 | 6798 |
|  Techtronic Industries Co. Ltd. | 500 | 5775 |
|  |  | 60764 |

---

The accompanying notes are an integral part of these consolidated financial statements.7

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Healthcare - Products - 1.7%** |  |  |
|  Cochlear Ltd. | 18 | $3129<br>|
|  Coloplast - Class B | 174 | 14950 |
|  Fisher & Paykel Healthcare Corp. Ltd. | 586 | 12721 |
|  FUJIFILM Holdings Corp. | 1198 | 25558 |
|  Koninklijke Philips NV | 680 | 18560 |
|  Siemens Healthineers AG - 144A | 479 | 25270 |
|  Sonova Holding AG | 29 | 7581 |
|  Sysmex Corp. | 2189 | 21541 |
|  Terumo Corp. | 1881 | 27241 |
|  |  | 156551 |
|  **Healthcare - Services - 0.6%** |  |  |
|  Fresenius SE & Co. KGaA | 154 | 8859 |
|  Lonza Group AG | 64 | 43445 |
|  |  | 52304 |
|  **Home Builders - 0.3%** |  |  |
|  Daiwa House Industry Co. Ltd. | 641 | 21257 |
|  Sekisui House Ltd. | 496 | 11069 |
|  |  | 32326 |
|  **Home Furnishings - 1.1%** |  |  |
|  Rational AG | 4 | 3107 |
|  Sony Group Corp. | 3897 | 100045 |
|  |  | 103152 |
|  **Household Products & Wares - 0.3%** |  |  |
|  Reckitt Benckiser Group PLC | 333 | 26883 |
|  **Insurance - 5.9%** |  |  |
|  Admiral Group PLC | 48 | 2051 |
|  Ageas S.A./NV | 41 | 2880 |
|  AIA Group Ltd. | 804 | 8253 |
|  Allianz SE | 88 | 40359 |
|  Aviva PLC | 649 | 5974 |
|  AXA S.A. | 1930 | 92844 |
|  Dai-ichi Life Holdings, Inc. | 11281 | 93813 |
|  Generali | 135 | 5668 |
|  Helvetia Baloise Holding AG | 11 | 2905 |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 5 | 3301 |
|  NN Group NV | 70 | 5405 |
|  QBE Insurance Group Ltd. | 3461 | 45905 |
|  Sompo Holdings, Inc. | 89 | 3030 |
|  T&D Holdings, Inc. | 2315 | 53391 |
|  Tokio Marine Holdings, Inc. | 2800 | 103911 |
|  Zurich Insurance Group AG | 120 | 91153 |
|  |  | 560843 |

---

The accompanying notes are an integral part of these consolidated financial statements.8

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Internet - 3.0%** |  |  |
|  Auto Trader Group PLC - 144A | 1549 | $12217<br>|
|  CAR Group Ltd. | 277 | 5682 |
|  Grab Holdings Ltd. - Class A <sup>(a)</sup> | 1565 | 7809 |
|  Prosus NV <sup>(a)</sup> | 1978 | 122774 |
|  Rakuten Group, Inc. <sup>(a)</sup> | 2882 | 18460 |
|  Scout24 SE - 144A | 932 | 93916 |
|  Sea Ltd. - ADR <sup>(a)</sup> | 37 | 4720 |
|  Spotify Technology S.A. <sup>(a)</sup> | 11 | 6388 |
|  Trend Micro, Inc./Japan | 340 | 14104 |
|  ZOZO, Inc. | 150 | 1235 |
|  |  | 287305 |
|  **Investment Companies - 0.7%** |  |  |
|  Industrivarden AB - Class C | 72 | 3241 |
|  Investment AB Latour - Class B | 257 | 6284 |
|  Investor AB - Class B | 1557 | 55802 |
|  |  | 65327 |
|  **Iron & Steel - 0.5%** |  |  |
|  ArcelorMittal S.A. | 118 | 5417 |
|  Fortescue Ltd. | 2909 | 42697 |
|  |  | 48114 |
|  **Leisure Time - 0.0%<sup>(b)</sup>** |  |  |
|  Amadeus IT Group S.A. | 42 | 3100 |
|  **Machinery - Construction & Mining - 3.2%** |  |  |
|  Epiroc AB - Class A | 495 | 11271 |
|  Epiroc AB - Class B | 180 | 3645 |
|  Hitachi Ltd. | 4098 | 128160 |
|  Mitsubishi Heavy Industries Ltd. | 305 | 7472 |
|  Sandvik AB | 104 | 3391 |
|  Siemens Energy AG <sup>(a)</sup> | 1025 | 144939 |
|  |  | 298878 |
|  **Machinery - Diversified - 1.8%** |  |  |
|  Atlas Copco AB - Class A | 413 | 7439 |
|  Atlas Copco AB - Class B | 711 | 11492 |
|  GEA Group AG | 153 | 10386 |
|  Keyence Corp. | 391 | 141388 |
|  |  | 170705 |
|  **Mining - 3.1%** |  |  |
|  Anglo American PLC | 769 | 31910 |
|  Antofagasta PLC | 203 | 8953 |
|  BHP Group Ltd. | 3452 | 104716 |
|  Boliden AB <sup>(a)</sup> | 295 | 16486 |
|  Evolution Mining Ltd. | 1083 | 9158 |
|  Fresnillo PLC | 219 | 9821 |
|  Glencore PLC <sup>(a)</sup> | 4101 | 22426 |
|  Northern Star Resources Ltd. | 3020 | 53831 |

---

The accompanying notes are an integral part of these consolidated financial statements.9

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Mining - 3.1% (continued)** |  |  |
|  Rio Tinto PLC | 375 | $30233<br>|
|  South32 Ltd. | 4313 | 10239 |
|  |  | 297773 |
|  **Miscellaneous Manufacturer - 0.9%** |  |  |
|  Alstom S.A. <sup>(a)</sup> | 360 | 10642 |
|  Indutrade AB | 477 | 12439 |
|  Siemens AG | 208 | 58421 |
|  |  | 81502 |
|  **Oil & Gas - 4.3%** |  |  |
|  Aker BP ASA | 180 | 4584 |
|  BP PLC | 19886 | 115764 |
|  ENEOS Holdings, Inc. | 4206 | 29705 |
|  ENI SpA | 986 | 18690 |
|  Idemitsu Kosan Co. Ltd. | 3030 | 22868 |
|  Neste OYJ | 1163 | 26512 |
|  OMV AG | 143 | 7981 |
|  Repsol S.A. | 792 | 14813 |
|  Shell PLC | 1779 | 65564 |
|  TotalEnergies SE | 1535 | 100217 |
|  Woodside Energy Group Ltd. | 211 | 3319 |
|  |  | 410017 |
|  **Packaging & Containers - 0.0%<sup>(b)</sup>** |  |  |
|  Stora Enso OYJ - Class R | 207 | 2603 |
|  **Pharmaceuticals - 6.9%** |  |  |
|  AstraZeneca PLC | 499 | 92556 |
|  Bayer AG | 743 | 32296 |
|  Pharmaceuticals - 6.9% (continued) |  |  |
|  Chugai Pharmaceutical Co. Ltd. | 660 | $34708<br>|
|  Daiichi Sankyo Co. Ltd. | 848 | 18113 |
|  Galderma Group AG | 78 | 15959 |
|  GSK PLC | 1195 | 29326 |
|  Merck KGaA | 52 | 7487 |
|  Novartis AG | 684 | 94625 |
|  Novo Nordisk - Class B | 3121 | 159618 |
|  Roche Holding AG | 15 | 6346 |
|  Roche Holding AG - Participation Certificate | 150 | 62139 |
|  Sanofi S.A. | 442 | 42941 |
|  Takeda Pharmaceutical Co. Ltd. | 1697 | 52346 |
|  UCB S.A. | 27 | 7566 |
|  |  | 656026 |
|  **Private Equity - 0.1%** |  |  |
|  3i Group PLC | 222 | 9743 |

---

The accompanying notes are an integral part of these consolidated financial statements.10

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Real Estate - 0.6%** |  |  |
|  Hongkong Land Holdings Ltd. | 1400 | $9730<br>|
|  LEG Immobilien SE | 126 | 9212 |
|  REA Group Ltd. | 101 | 12351 |
|  Vonovia SE | 788 | 22711 |
|  Wharf Real Estate Investment Co. Ltd. | 1620 | 5116 |
|  |  | 59120 |
|  **REITS - 1.3%** |  |  |
|  CapitaLand Integrated Commercial Trust | 16715 | 31064 |
|  Goodman Group | 982 | 20287 |
|  Klepierre S.A. | 343 | 13592 |
|  Scentre Group | 2169 | 6075 |
|  Unibail-Rodamco-Westfield | 449 | 48915 |
|  |  | 119933 |
|  **Retail - 1.0%** |  |  |
|  Cie Financiere Richemont S.A. | 69 | 14984 |
|  CK Hutchison Holdings Ltd. | 3294 | 22409 |
|  Kingfisher PLC | 1681 | 7070 |
|  Pan Pacific International Holdings Corp. | 4163 | 24761 |
|  Wesfarmers Ltd. | 395 | 21360 |
|  |  | 90584 |
|  **Semiconductors - 2.9%** |  |  |
|  ASML Holding NV | 171 | 185046 |
|  Kioxia Holdings Corp. <sup>(a)</sup> | 600 | 39944 |
|  Renesas Electronics Corp. <sup>(a)</sup> | 471 | 6430 |
|  STMicroelectronics NV | 813 | 21426 |
|  Tokyo Electron Ltd. | 90 | 19706 |
|  |  | 272552 |
|  **Shipbuilding - 0.2%** |  |  |
|  Yangzijiang Shipbuilding Holdings Ltd. | 8158 | 22076 |
|  **Software - 3.1%** |  |  |
|  Dassault Systemes SE | 903 | 25283 |
|  Monday.com Ltd. <sup>(a)</sup> | 35 | 5165 |
|  Nemetschek SE | 24 | 2616 |
|  Nexon Co. Ltd. | 511 | 12476 |
|  Nice Ltd. <sup>(a)</sup> | 17 | 1905 |
|  Oracle Corp. Japan | 188 | 15820 |
|  Pro Medicus Ltd. | 43 | 6333 |
|  Sage Group PLC (The) | 3416 | 49761 |
|  SAP SE | 683 | 167128 |
|  Xero Ltd. <sup>(a)</sup> | 70 | 5322 |
|  |  | 291809 |
|  **Telecommunications - 4.3%** |  |  |
|  Deutsche Telekom AG | 2994 | 97261 |
|  KDDI Corp. | 2140 | 36978 |
|  Koninklijke KPN NV | 1478 | 6902 |

---

The accompanying notes are an integral part of these consolidated financial statements.11

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.9% (continued)** | **Shares** | **Value** |
|  **Telecommunications - 4.3% (continued)** |  |  |
|  Nokia OYJ | 3118 | $20404<br>|
|  Orange S.A. | 1183 | 19729 |
|  Singapore Telecommunications Ltd. | 4374 | 15476 |
|  SoftBank Corp. | 33133 | 45405 |
|  SoftBank Group Corp. | 2776 | 77925 |
|  Swisscom AG | 3 | 2179 |
|  Tele2 AB - Class B | 707 | 11853 |
|  Telecom Italia SpA/Milano <sup>(a)</sup> | 61355 | 37024 |
|  Telenor ASA | 258 | 3752 |
|  Telia Co. AB | 891 | 3806 |
|  Vodafone Group PLC | 18720 | 24897 |
|  |  | 403591 |
|  **Toys, Games & Hobbies - 0.7%** |  |  |
|  Bandai Namco Holdings, Inc. | 990 | 26350 |
|  Nintendo Co. Ltd. | 545 | 36839 |
|  |  | 63189 |
|  **Transportation - 0.4%** |  |  |
|  AP Moller - Maersk - Class B | 1 | 2302 |
|  East Japan Railway Co. | 188 | 4956 |
|  Getlink SE | 164 | 3030 |
|  Poste Italiane SpA - 144A | 510 | 12866 |
|  SITC International Holdings Co. Ltd. | 4753 | 17012 |
|  |  | 40166 |
|  **TOTAL COMMON STOCKS** (Cost $9,085,854) |  | 9463107 |
|  **TOTAL INVESTMENTS - 99.9%** (Cost $9,085,854) |  | 9463107 |
|  Other Assets in Excess of Liabilities - 0.1% |  | 8513 |
|  **TOTAL NET ASSETS - 100.0%** |  | $9471620<br>|

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

PLC - Public Limited Company

REIT - Real Estate Investment Trust

144A - Securities exempt from registration under Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(a)Non-income producing security.

(b)Less than 0.05%.

The accompanying notes are an integral part of these consolidated financial statements.12

**Schedule of Investments** **Pictet AI Enhanced International** **Equity ETF**

December 31, 2025 (Unaudited)

---

| | |
|:---|:---|
| **Summary of Investment Type** | **Summary of Investment Type** |
| **Sector** | **Percentage of<br>Net Assets** |
|  Financial | 27.4% |
|  Consumer Non-cyclical | 19.0% |
|  Industrial | 14.6% |
|  Consumer Cyclical | 11.9% |
|  Communications | 7.3% |
|  Technology | 6.6% |
|  Utilities | 4.5% |
|  Energy | 4.4% |
|  Basic Materials | 4.2% |
|  **Total Investments** | **99.9%** |
|  Other Assets in Excess of Liabilities | 0.1% |
|  **Total Net Assets** | **100.0%** |

---

The accompanying notes are an integral part of these consolidated financial statements.13

**Schedule of Investments** **Pictet Cleaner** **Planet ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0%** | **Shares** | **Value** |
|  **Auto Manufacturers - 0.8%** |  |  |
|  Tesla, Inc.<sup>(a)</sup> | 237 | $106584<br>|
|  **Auto Parts & Equipment - 0.8%** |  |  |
|  Contemporary Amperex Technology Co. Ltd. - Class H | 1600 | 103912 |
|  **Building Materials - 8.0%** |  |  |
|  Belimo Holding AG | 163 | 160685 |
|  Builders FirstSource, Inc.<sup>(a)</sup> | 700 | 72023 |
|  Carlisle Cos., Inc. | 339 | 108433 |
|  Carrier Global Corp. | 2810 | 148481 |
|  Modine Manufacturing Co.<sup>(a)</sup> | 487 | 65019 |
|  Trane Technologies PLC | 1266 | 492727 |
|  |  | 1047368 |
|  **Chemicals - 7.2%** |  |  |
|  Albemarle Corp. | 479 | 67750 |
|  DSM-Firmenich AG | 1720 | 138899 |
|  Ecolab, Inc. | 912 | 239418 |
|  Linde PLC | 766 | 326615 |
|  Novonesis Novozymes B | 2670 | 171210 |
|  |  | 943892 |
|  **Distribution & Wholesale - 3.1%** |  |  |
|  Copart, Inc.<sup>(a)</sup> | 5383 | 210744 |
|  Core & Main, Inc. - Class A <sup>(a)</sup> | 3650 | 189691 |
|  |  | 400435 |
|  **Electric - 5.8%** |  |  |
|  Iberdrola S.A. | 11991 | 260039 |
|  NextEra Energy, Inc. | 2631 | 211217 |
|  SSE PLC | 2762 | 80950 |
|  Xcel Energy, Inc. | 2889 | 213382 |
|  |  | 765588 |
|  **Electrical Components & Equipment - 6.2%** |  |  |
|  Eaton Corp. PLC | 1173 | 373612 |
|  Schneider Electric SE | 1585 | 437267 |
|  |  | 810879 |
|  **Energy - Alternate Sources - 1.9%** |  |  |
|  First Solar, Inc.<sup>(a)</sup> | 936 | 244511 |
|  **Engineering & Construction - 1.4%** |  |  |
|  TopBuild Corp.<sup>(a)</sup> | 445 | 185650 |
|  **Environmental Control - 6.2%** |  |  |
|  Pentair PLC | 1276 | 132883 |
|  Republic Services, Inc. - Class A | 635 | 134575 |
|  Sweco AB - Class B | 10076 | 164931 |
|  Tetra Tech, Inc. | 5717 | 191748 |
|  Waste Management, Inc. | 867 | 190489 |
|  |  | 814626 |

---

The accompanying notes are an integral part of these consolidated financial statements.14

**Schedule of Investments** **Pictet Cleaner** **Planet ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0% (continued)** | **Shares** | **Value** |
|  **Food - 0.7%** |  |  |
|  Sprouts Farmers Market, Inc.<sup>(a)</sup> | 1146 | $91302<br>|
|  **Healthcare - Products - 2.8%** |  |  |
|  Thermo Fisher Scientific, Inc. | 634 | 367371 |
|  **Machinery - Diversified - 2.1%** |  |  |
|  Rockwell Automation, Inc. | 247 | 96100 |
|  Xylem, Inc./NY | 1351 | 183979 |
|  |  | 280079 |
|  **Miscellaneous Manufacturer - 1.4%** |  |  |
|  Siemens AG | 646 | 181442 |
|  **REITS - 2.0%** |  |  |
|  Digital Realty Trust, Inc. | 542 | 83853 |
|  Equinix, Inc. | 227 | 173918 |
|  |  | 257771 |
|  **Semiconductors - 35.8%** |  |  |
|  Analog Devices, Inc. | 1067 | 289370 |
|  Applied Materials, Inc. | 2759 | 709035 |
|  ASM International NV | 334 | 203037 |
|  ASML Holding NV | 655 | 708801 |
|  Broadcom, Inc. | 1059 | 366520 |
|  Infineon Technologies AG | 4185 | 185446 |
|  KLA Corp. | 267 | 324426 |
|  Lam Research Corp. | 985 | 168612 |
|  Marvell Technology, Inc. | 5428 | 461272 |
|  Monolithic Power Systems, Inc. | 155 | 140486 |
|  NVIDIA Corp. | 523 | 97540 |
|  NXP Semiconductors NV | 1832 | 397654 |
|  ON Semiconductor Corp.<sup>(a)</sup> | 4373 | 236798 |
|  Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 889 | 270158 |
|  Tokyo Electron Ltd. | 718 | 157209 |
|  |  | 4716364 |
|  **Software - 13.0%** |  |  |
|  Autodesk, Inc.<sup>(a)</sup> | 1718 | 508545 |
|  Cadence Design Systems, Inc.<sup>(a)</sup> | 2048 | 640164 |
|  Dassault Systemes SE | 3678 | 102980 |
|  Nemetschek SE | 1028 | 112041 |
|  SAP SE | 753 | 184256 |
|  Synopsys, Inc.<sup>(a)</sup> | 350 | 164402 |
|  |  | 1712388 |

---

The accompanying notes are an integral part of these consolidated financial statements.15

**Schedule of Investments** **Pictet Cleaner** **Planet ETF**

December 31, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 100.0% (continued)** | **Shares** | **Value** |
|  **Telecommunications - 0.8%** |  |  |
|  Arista Networks, Inc. <sup>(a)</sup> | 812 | $106396<br>|
|  **TOTAL COMMON STOCKS** (Cost $13,105,476) |  | 13136558 |
|  **TOTAL INVESTMENTS – 100.0%** (Cost $13,105,476) |  | 13136558 |
|  Other Assets in Excess of Liabilities - 0.0% <sup>(b)</sup> |  | 14380 |
|  **TOTAL NET ASSETS - 100.0%** |  | $13150938<br>|

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

PLC - Public Limited Company

REIT - Real Estate Investment Trust

(a)Non-income producing security.

(b)Less than 0.05%.

---

| | |
|:---|:---|
| **Summary of Investment Type** | **Summary of Investment Type** |
| **Sector** | **Percentage of<br>Net Assets** |
|  Semiconductors | 35.8% |
|  Software | 13.0% |
|  Building Materials | 8.0% |
|  Chemicals | 7.2% |
|  Environmental Control | 6.2% |
|  Electrical Components & Equipment | 6.2% |
|  Electric | 5.8% |
|  Distribution & Wholesale | 3.1% |
|  Healthcare - Products | 2.8% |
|  Machinery - Diversified | 2.1% |
|  REITS | 2.0% |
|  Energy - Alternate Sources | 1.9% |
|  Engineering & Construction | 1.4% |
|  Miscellaneous Manufacturer | 1.4% |
|  Auto Manufacturers | 0.8% |
|  Telecommunications | 0.8% |
|  Auto Parts & Equipment | 0.8% |
|  Food | 0.7% |
|  **Total Investments** | **100.0%** |
|  Other Assets in Excess of Liabilities | 0.0<br> % <sup>(a)</sup> |
|  **Total Net Assets** | **100.0%** |

---

(a)Less than 0.05%.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** 2023 ETF Series Trust

- **b. Investment Company Act file number:** 811-23883

- **c. CIK number of Registrant:** 0001969674

- **d. LEI of Registrant:** 5493000L2E3DBUPMOK03

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

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 262-267-4589

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

- **a. Name of Series:** Pictet Cleaner Planet ETF

- **b. EDGAR series identifier (if any):** S000095126

- **c. LEI of Series:** 213800O88EUBHPQYGY18

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $13158811.48

**Total Liabilities:** $7889.06

**Net Assets:** $13150922.42

**Cash Not Reported:** $13232.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000263749 | 1.19%                | -1.48%               | -0.29%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6043.08                 | $115944.82                                 |
| Month 2  | $-64826.25               | $-63694.01                                 |
| Month 3  | $-21795.46               | $-21170.38                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALBEMARLE CORP                 | ALBEMARLE CORP 0.00000000                                            | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |       479 | NS      | $67749.76     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ANALOG DEVICES INC             | ANALOG DEVICES INC 0.00000000                                        | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1067 | NS      | $289370.40    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC          | APPLIED MATERIALS INC 0.00000000                                     | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2759 | NS      | $709035.41    | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS INC            | ARISTA NETWORKS INC 0.00000000                                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |       812 | NS      | $106396.36    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK INC                   | AUTODESK INC 0.00000000                                              | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      1718 | NS      | $508545.18    | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC /GBP/                  | SSE PLC /GBP/ 0.00000000                                             | CUSIP: G8842P102<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |      2762 | NS      | $80950.46     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                   | BROADCOM INC 0.00000000                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1059 | NS      | $366519.90    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC       | BUILDERS FIRSTSOURCE INC 0.00000000                                  | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |       700 | NS      | $72023.00     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYS INC         | CADENCE DESIGN SYS INC 0.00000000                                    | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      2048 | NS      | $640163.84    | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLISLE COS INC               | CARLISLE COS INC 0.00000000                                          | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       339 | NS      | $108432.54    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CARRIER GLOBAL CORP            | CARRIER GLOBAL CORP 0.00000000                                       | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      2810 | NS      | $148480.40    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| COPART INC                     | COPART INC 0.00000000                                                | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      5383 | NS      | $210744.45    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE & MAIN INC-CLASS A        | CORE & MAIN INC-CLASS A 0.00000000                                   | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3650 | NS      | $189690.50    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC       | DIGITAL REALTY TRUST INC 0.00000000                                  | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | RE               | CORP              | US        |       542 | NS      | $83852.82     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC                     | ECOLAB INC 0.00000000                                                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       912 | NS      | $239418.24    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                    | EQUINIX INC 0.00000000                                               | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | RE               | CORP              | US        |       227 | NS      | $173918.32    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST SOLAR INC                | FIRST SOLAR INC 0.00000000                                           | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |       936 | NS      | $244511.28    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                       | KLA CORP 0.00000000                                                  | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       267 | NS      | $324426.36    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHNEIDER ELEC SA /EUR/        | SCHNEIDER ELEC SA /EUR/ 0.00000000                                   | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |      1585 | NS      | $437267.11    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE /EUR/                   | SAP SE /EUR/ 0.00000000                                              | CUSIP: D66992104<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       753 | NS      | $184256.58    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP              | LAM RESEARCH CORP 0.00000000                                         | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |       985 | NS      | $168612.30    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM INTERNATIONAL NV /EUR/     | ASM INTERNATIONAL NV /EUR/ 0.00000000                                | CUSIP: N07045201<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |       334 | NS      | $203037.03    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| NEMETSCHEK SE  /EUR/           | NEMETSCHEK SE /EUR/ 0.00000000                                       | CUSIP: D56134105<br>LEI: 529900R0S2IX1S358J38 | Long             | EC               | CORP              | DE        |      1028 | NS      | $112040.65    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS AG-REG /EUR/           | SIEMENS AG-REG /EUR/ 0.00000000                                      | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |       646 | NS      | $181441.83    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY INC         | MARVELL TECHNOLOGY INC 0.00000000                                    | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5428 | NS      | $461271.44    | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| INFINEON TECHNOLOGIES AG /EUR/ | INFINEON TECHNOLOGIES AG /EUR/ 0.00000000                            | CUSIP: D35415104<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |      4185 | NS      | $185445.71    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MANUFACTURING CO        | MODINE MANUFACTURING CO 0.00000000                                   | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |       487 | NS      | $65019.37     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MONOLITHIC POWER SYSTEMS INC   | MONOLITHIC POWER SYSTEMS INC 0.00000000                              | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       155 | NS      | $140485.80    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC             | NEXTERA ENERGY INC 0.00000000                                        | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      2631 | NS      | $211216.68    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                    | NVIDIA CORP 0.00000000                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |       523 | NS      | $97539.50     | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ON SEMICONDUCTOR               | ON SEMICONDUCTOR 0.00000000                                          | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      4373 | NS      | $236797.95    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKYO ELECTRON LTD /JPY/       | TOKYO ELECTRON LTD /JPY/ 0.00000000                                  | CUSIP: J86957115<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |       718 | NS      | $157209.23    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| REPUBLIC SERVICES INC          | REPUBLIC SERVICES INC 0.00000000                                     | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       635 | NS      | $134575.55    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC        | ROCKWELL AUTOMATION INC 0.00000000                                   | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |       247 | NS      | $96100.29     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROUTS FARMERS MARKET INC     | SPROUTS FARMERS MARKET INC 0.00000000                                | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      1146 | NS      | $91301.82     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS INC                   | SYNOPSYS INC 0.00000000                                              | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       350 | NS      | $164402.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR-SP ADR    | TAIWAN SEMICONDUCTOR SPONSORED ADR /1 ADR REPS 5 ORD SHS/ 0.00000000 | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       889 | NS      | $270158.21    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                      | TESLA INC 0.00000000                                                 | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       237 | NS      | $106583.64    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA TECH INC                 | TETRA TECH INC 0.00000000                                            | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |      5717 | NS      | $191748.18    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC   | THERMO FISHER SCIENTIFIC INC 0.00000000                              | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       634 | NS      | $367371.30    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP                  | TOPBUILD CORP 0.00000000                                             | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |       445 | NS      | $185649.55    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE MANAGEMENT INC           | WASTE MANAGEMENT INC 0.00000000                                      | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |       867 | NS      | $190488.57    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC                | XCEL ENERGY INC 0.00000000                                           | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      2889 | NS      | $213381.54    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| XYLEM INC                      | XYLEM INC 0.00000000                                                 | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      1351 | NS      | $183979.18    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| IBERDROLA SA /EUR/             | IBERDROLA SA /EUR/ 0.00000000                                        | CUSIP: E6165F166<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     11991 | NS      | $260039.46    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP SEMICONDUCTORS NV          | NXP SEMICONDUCTORS NV 0.00000000                                     | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      1832 | NS      | $397653.92    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVONESIS (NOVOZYMES) B /DKK/  | NOVONESIS (NOVOZYMES) B /DKK/ 0.00000000                             | CUSIP: K7317J133<br>LEI: N/A                  | Long             | EC               | CORP              | DK        |      2670 | NS      | $171209.82    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV /EUR/          | ASML HOLDING NV /EUR/ 0.00000000                                     | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       655 | NS      | $708800.53    | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC         | TRANE TECHNOLOGIES PLC 0.00000000                                    | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      1266 | NS      | $492727.20    | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| SWECO AB-B SHS /SEK/           | SWECO AB-B SHS /SEK/ 0.00000000                                      | CUSIP: W31065225<br>LEI: 549300Q4Y55VICYV6U90 | Long             | EC               | CORP              | SE        |     10076 | NS      | $164931.27    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PENTAIR PLC                    | PENTAIR PLC 0.00000000                                               | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               | CORP              | IE        |      1276 | NS      | $132882.64    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT SYSTEMES SE /EUR/     | DASSAULT SYSTEMES SE /EUR/ 0.00000000                                | CUSIP: F24571451<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |      3678 | NS      | $102979.91    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                      | LINDE PLC 0.00000000                                                 | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       766 | NS      | $326614.74    | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BELIMO HOLDING AG-REG /CHF/    | BELIMO HOLDING AG-REG /CHF/ 0.00000000                               | CUSIP: H07171129<br>LEI: 506700339DLX749VEM23 | Long             | EC               | CORP              | CH        |       163 | NS      | $160685.39    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DSM-FIRMENICH AG /EUR/         | DSM-FIRMENICH AG /EUR/ 0.00000000                                    | CUSIP: H0245V108<br>LEI: 506700G44V67MPM4BI12 | Long             | EC               | CORP              | CH        |      1720 | NS      | $138898.91    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTEMPORARY AMPEREX TEC /HKD/ | CONTEMPORARY AMPEREX TECHN-H /HKD/ 0.00000000                        | CUSIP: Y1R48E113<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |      1600 | NS      | $103912.12    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| EATON CORP PLC                 | EATON CORP PLC 0.00000000                                            | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      1173 | NS      | $373612.23    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Aaron Perkovich

**Signature:** Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Principal Financial Officer