# EDGAR Filing Document

**Accession Number:** 0001969674
**File Stem:** 0000940400-26-006911
**Filing Date:** 2026-2
**Character Count:** 25856
**Document Hash:** 163ef0176a0dad9cdf68d1945cd1052a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-006911.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000940400-26-006911

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**PERIOD START**: 20260630

**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:** 26663185

**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

### Brandes International ETF (Series ID: S000081642)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000244569 | Brandes International ETF | BINV            |

## 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 W. Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** (833)782-2211

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

- **a. Name of Series:** Brandes International ETF

- **b. EDGAR series identifier (if any):** S000081642

- **c. LEI of Series:** 5493000L37RXKX8UYZ17

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

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

- **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:** $405046733.89

**Total Liabilities:** $646950.88

**Net Assets:** $404399783.01

**Cash Not Reported:** $1439103.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244569 | 0.61%                | 1.77%                | 2.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2544626.42              | $-750754.98                                |
| Month 2  | $1998890.45              | $2890104.01                                |
| Month 3  | $1970650.24              | $6459848.03                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Embraer SA                                  | Embraer SA                                  | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |     93568 | NS      | $6022972.16   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics NV                       | STMicroelectronics NV                       | CUSIP: 000000000<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | CH        |    335917 | NS      | $8853002.47   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Publicis Groupe SA                          | Publicis Groupe SA                          | CUSIP: 000000000<br>LEI: 2138004KW8BV57III342 | Long             | EC               | CORP              | FR        |     60052 | NS      | $6250215.21   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                        | Taiwan Semiconductor Manufacturing Co Ltd   | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      9088 | NS      | $2761752.32   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                   | Orange SA                                   | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |    175210 | NS      | $2922018.65   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                     | Eni SpA                                     | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     10760 | NS      | $203963.08    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd                    | Wilmar International Ltd                    | CUSIP: 000000000<br>LEI: 549300H2EAI4YRLWBB20 | Long             | EC               | CORP              | SG        |   3385600 | NS      | $8108590.98   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                                    | Ambev SA                                    | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |   2613320 | NS      | $6454900.40   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                 | Cie Financiere Richemont SA                 | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     32244 | NS      | $7002310.13   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard SA                            | Pernod Ricard SA                            | CUSIP: 000000000<br>LEI: 52990097YFPX9J0H5D87 | Long             | EC               | CORP              | FR        |     80659 | NS      | $6924779.67   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                | UBS Group AG                                | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | CH        |    159513 | NS      | $7387047.03   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Fibra Uno Administracion SA de              | Fibra Uno Administracion SA de CV           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   4279724 | NS      | $6424525.20   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Kubota Corp                                 | Kubota Corp                                 | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Long             | EC               | CORP              | JP        |    344100 | NS      | $4865849.95   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Capgemini SE                                | Capgemini SE                                | CUSIP: 000000000<br>LEI: 96950077L0TN7BAROX36 | Long             | EC               | CORP              | FR        |     46177 | NS      | $7714605.79   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Buzzi SpA                                   | Buzzi SpA                                   | CUSIP: 000000000<br>LEI: 5299003DX5YLKSVJ6K59 | Long             | EC               | CORP              | IT        |     47987 | NS      | $2930641.49   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Kering SA                                   | Kering SA                                   | CUSIP: 492089107<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |    267902 | NS      | $9422113.34   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                         | Intesa Sanpaolo SpA                         | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    494349 | NS      | $3437672.27   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                              | BNP Paribas SA                              | CUSIP: 05565A202<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |    169668 | NS      | $8042263.20   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CAE Inc                                     | CAE Inc                                     | CUSIP: 124765108<br>LEI: 549300FFM2BEH2GF1E44 | Long             | EC               | CORP              | CA        |    221884 | NS      | $6749711.28   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan US Treasury Plus Money Market Fund | JPMorgan US Treasury Plus Money Market Fund | CUSIP: 4812C2239<br>LEI: 549300WIC5LVF25Z1127 | Long             | STIV             | RF                | US        |   5415672 | NS      | $5415672.02   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co KGaA                         | Henkel AG & Co KGaA                         | CUSIP: 000000000<br>LEI: 549300VZCL1HTH4O4Y49 | Long             | EC               | CORP              | DE        |    106205 | NS      | $8107632.77   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                                 | Nutrien Ltd                                 | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     57987 | NS      | $3578957.64   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| DHL GROUP                                   | DHL GROUP                                   | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |    142296 | NS      | $7809517.86   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corp                                 | Makita Corp                                 | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |    172900 | NS      | $5225221.22   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROBRAS                                   | Petroleo Brasileiro SA - Petrobras          | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    844448 | NS      | $9516928.96   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Corp                                    | SMC Corp                                    | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |     19000 | NS      | $6601422.69   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Cemex SAB de CV                             | Cemex SAB de CV                             | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |    448532 | NS      | $5153632.68   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA RES BEER                              | China Resources Beer Holdings Co Ltd        | CUSIP: 000000000<br>LEI: 254900OH02Y7OS7RNG48 | Long             | EC               | CORP              | HK        |   1808500 | NS      | $6092229.72   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingfisher PLC                              | Kingfisher PLC                              | CUSIP: 495724403<br>LEI: 213800KBMEV7I92FY281 | Long             | EC               | CORP              | GB        |    661878 | NS      | $5526681.30   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp                            | Bridgestone Corp                            | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |    221400 | NS      | $4963473.16   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondi PLC                                   | Mondi PLC                                   | CUSIP: 60921V200<br>LEI: 213800LOZA69QFDC9N34 | Long             | EC               | CORP              | GB        |    214429 | NS      | $5297039.59   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe BIC SA                              | Societe BIC SA                              | CUSIP: 000000000<br>LEI: 969500UR00DF63I0VH67 | Long             | EC               | CORP              | FR        |     55932 | NS      | $3383010.36   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                   | Sanofi SA                                   | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    113648 | NS      | $11040991.43  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Ltd                                    | Nice Ltd                                    | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |     27515 | NS      | $3110295.60   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| First Pacific Co Ltd                        | First Pacific Co Ltd                        | CUSIP: 000000000<br>LEI: 254900VS1MDQSDM9DE09 | Long             | EC               | CORP              | HK        |   4052000 | NS      | $3102707.01   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                         | Erste Group Bank AG                         | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     37928 | NS      | $4583645.97   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Grifols SA                                  | Grifols SA                                  | CUSIP: 398438408<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |    801724 | NS      | $7496119.40   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Philips NV                      | Koninklijke Philips NV                      | CUSIP: 500472303<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |    260403 | NS      | $7051713.24   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP PLC                                     | WPP PLC                                     | CUSIP: 000000000<br>LEI: 549300LSGBXPYHXGDT93 | Long             | EC               | CORP              | GB        |    759519 | NS      | $3447854.83   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                  | Samsung Electronics Co Ltd                  | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EP               | CORP              | KR        |    112114 | NS      | $6942187.91   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| J Sainsbury PLC                             | J Sainsbury PLC                             | CUSIP: 466249208<br>LEI: 213800VGZAAJIKJ9Y484 | Long             | EC               | CORP              | GB        |    355933 | NS      | $6371200.70   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                            | TotalEnergies SE                            | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     92090 | NS      | $6012358.89   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Open Text Corp                              | Open Text Corp                              | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |    152019 | NS      | $4952779.02   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrefour SA                                | Carrefour SA                                | CUSIP: 000000000<br>LEI: 549300B8P6MUJ1YWTS08 | Long             | EC               | CORP              | FR        |    515488 | NS      | $8615077.91   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC                 | Reckitt Benckiser Group PLC                 | CUSIP: 756255204<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |    363127 | NS      | $5889919.94   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil SA                        | Telefonica Brasil SA                        | CUSIP: 87936R205<br>LEI: 529900MTGG2HSDBIWG79 | Long             | EC               | CORP              | BR        |    217854 | NS      | $2583748.44   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                    | Engie SA                                    | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    257172 | NS      | $6768638.01   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Wal-Mart de Mexico SAB de CV                | Wal-Mart de Mexico SAB de CV                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |   2545023 | NS      | $7945278.84   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Swatch Group AG/The                         | Swatch Group AG/The                         | CUSIP: 000000000<br>LEI: 529900NTES2LEON1JZ55 | Long             | EC               | CORP              | CH        |     11234 | NS      | $2385762.70   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd                          | Honda Motor Co Ltd                          | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |    639000 | NS      | $6261788.25   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                   | Shell PLC                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     84674 | NS      | $6221845.52   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                   | Alibaba Group Holding Ltd                   | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |     75009 | NS      | $10994819.22  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                           | National Grid PLC                           | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     63707 | NS      | $4927736.45   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc                         | Astellas Pharma Inc                         | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |    668800 | NS      | $8930418.20   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                 | Novartis AG                                 | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     36584 | NS      | $5043836.08   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Swatch Group AG/The                         | Swatch Group AG/The                         | CUSIP: 000000000<br>LEI: 529900NTES2LEON1JZ55 | Long             | EC               | CORP              | CH        |    175278 | NS      | $7623956.93   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV                     | America Movil SAB de CV                     | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |    287470 | NS      | $5942004.90   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV                         | Heineken Holding NV                         | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |    120082 | NS      | $8800315.69   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark de Mexico SAB d              | Kimberly-Clark de Mexico SAB de CV          | CUSIP: 000000000<br>LEI: 549300JGHL56QT00KT54 | Long             | EC               | CORP              | MX        |   1766698 | NS      | $3773253.05   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Nephew PLC                          | Smith & Nephew PLC                          | CUSIP: 83175M205<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |    150543 | NS      | $4939315.83   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                  | Diageo PLC                                  | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     59608 | NS      | $5142382.16   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                      | SAP SE                                      | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     28440 | NS      | $6908360.40   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                    | Infineon Technologies AG                    | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     45955 | NS      | $2036363.60   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                     | GSK PLC                                     | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    205389 | NS      | $10072276.56  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                | Takeda Pharmaceutical Co Ltd                | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    344600 | NS      | $10629627.74  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group In              | Sumitomo Mitsui Trust Group Inc             | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |    205700 | NS      | $6268964.88   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-21

**Name of Applicant:** 2023 ETF Series Trust

**Signature:** Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Principal Financial Officer