# EDGAR Filing Document

**Accession Number:** 0001495922
**File Stem:** 0001752724-23-041474
**Filing Date:** 2023-2
**Character Count:** 33721
**Document Hash:** 0a6d9cf26d8bf6f83c9af5008d4a8ebd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041474.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041474

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EntrepreneurShares Series Trust
- **CENTRAL INDEX KEY:** 0001495922
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22436
- **FILM NUMBER:** 23671451

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WESTON CAPITAL ADVISORS, LLC
- **STREET 2:** 470 ATLANTIC AVENUE, SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 781-239-4446

**MAIL ADDRESS:**
- **STREET 1:** C/O WESTON CAPITAL ADVISORS, LLC
- **STREET 2:** 470 ATLANTIC AVENUE, SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### ERShares Entrepreneurs ETF (Series ID: S000059420)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000194842 | ERShares Entrepreneurs ETF | ENTR            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EntrepreneurShares Series Trust

- **b. Investment Company Act file number:** 811-22436

- **c. CIK number of Registrant:** 0001495922

- **d. LEI of Registrant:** 549300UON6JV1E7QG046

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

  - **Street Address 1:** 175 Federal Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 2110

  - **Telephone number:** (800) 287-9469

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

- **a. Name of Series:** ERSHARES ENTREPRENEURS ETF

- **b. EDGAR series identifier (if any):** S000059420

- **c. LEI of Series:** 5493004Z5W4ALQTA2M10

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $27872659.90

**Total Liabilities:** $12039.72

**Net Assets:** $27860620.18

**Cash Not Reported:** $3708.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194842 | 2.71%                | 2.43%                | -8.04%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-13519.05               | $810425.11                                 |
| Month 2  | $-280748.34              | $978057.38                                 |
| Month 3  | $-378841.13              | $-2063702.03                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Hubspot Inc                       | HubSpot, Inc.                     | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |       329 | NS      | $95123.77     | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Spotify Technology S.A.           | Spotify Technology S.A.           | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      2697 | NS      | $212928.15    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp.                      | NVIDIA Corporation                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      7571 | NS      | $1106425.94   | 3.97%             |  |  |  | No            | 1                  | On Loan: No      |
| MongoDB Inc.                      | MongoDB, Inc.                     | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      1479 | NS      | $291126.36    | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Dropbox Inc                       | Dropbox, Inc.                     | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |      5905 | NS      | $132153.90    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Pure Storage Inc                  | Pure Storage, Inc.                | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     13915 | NS      | $372365.40    | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                               | BBH SWEEP VEHICLE                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    767963 | PA      | $767962.55    | 2.76%             |  |  |  | No            | N/A                | On Loan: No      |
| Shutterstock Inc                  | Shutterstock, Inc.                | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |      5683 | NS      | $299607.76    | 1.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Chewy Inc                         | Chewy, Inc.                       | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |      5872 | NS      | $217733.76    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corporation                | Oracle Corporation                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      6847 | NS      | $559673.78    | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoominfo Technologies Inc         | ZoomInfo Technologies, Inc.       | CUSIP: 98980F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4078 | NS      | $122788.58    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Teladoc Health Inc                | Teladoc Health, Inc.              | CUSIP: 87918A105<br>LEI: 549300I2PVFBC9MFAC61 | Long             | EC               | CORP              | US        |      7248 | NS      | $171415.20    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Masimo Corporation                | Masimo Corporation                | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      1777 | NS      | $262907.15    | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| First Republic Bank San Francisco | First Republic Bank               | CUSIP: 33616C100<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EC               | CORP              | US        |      1134 | NS      | $138223.26    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| UiPath Inc.                       | UiPath, Inc.                      | CUSIP: 90364P105<br>LEI: 5493000YP61KBELDHT53 | Long             | EC               | CORP              | US        |     12297 | NS      | $156294.87    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                     | Snowflake, Inc.                   | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      2445 | NS      | $350955.30    | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc               | Arista Networks, Inc.             | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      3399 | NS      | $412468.65    | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Exelixis, Inc.                    | Exelixis, Inc.                    | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     24519 | NS      | $393284.76    | 1.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackstone Inc                    | Blackstone, Inc.                  | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |       691 | NS      | $51265.29     | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Five Below Inc                    | Five Below, Inc.                  | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1284 | NS      | $227101.08    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Robinhood Markets Inc             | Robinhood Markets, Inc.           | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     10313 | NS      | $83947.82     | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| RH                                | RH                                | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |       471 | NS      | $125846.49    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| DoorDash Inc                      | DoorDash, Inc.                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      4050 | NS      | $197721.00    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc.                     | QUALCOMM, Inc.                    | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7541 | NS      | $829057.54    | 2.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Wayfair Inc                       | Wayfair, Inc.                     | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |      5649 | NS      | $185795.61    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Playtika Holding Corp             | Playtika Holding Corporation      | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |     26813 | NS      | $228178.63    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Block Inc                         | Block, Inc.                       | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      4599 | NS      | $289001.16    | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Synopsys Inc                      | Synopsys, Inc.                    | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2221 | NS      | $709143.09    | 2.55%             |  |  |  | No            | 1                  | On Loan: No      |
| VMware Inc                        | VMware, Inc.                      | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               | CORP              | US        |      2657 | NS      | $326173.32    | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Atlassian Corporation             | Atlassian Corp plc                | CUSIP: 049468101<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      1382 | NS      | $177835.76    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Applovin Corporation              | AppLovin Corporation              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     15345 | NS      | $161582.85    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Snap Inc                          | Snap, Inc.                        | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |     18957 | NS      | $169665.15    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Chevron Corporation               | Chevron Corporation               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       977 | NS      | $175361.73    | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                    | Cloudflare, Inc.                  | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      5894 | NS      | $266467.74    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Gitlab Inc                        | Gitlab, Inc.                      | CUSIP: 37637K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3984 | NS      | $181032.96    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Zscaler Inc                       | Zscaler, Inc.                     | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      2321 | NS      | $259719.90    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.   | Regeneron Pharmaceuticals, Inc.   | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       450 | NS      | $324670.50    | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Icahn Enterprises LP              | Icahn Enterprises, L.P.           | CUSIP: 451100101<br>LEI: 549300T0G4GS0SINS786 | Long             | EC               | CORP              | US        |       122 | NS      | $6179.30      | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Coupa Software Incorporated       | Coupa Software, Inc.              | CUSIP: 22266L106<br>LEI: 549300Q95ICR2GFL2K37 | Long             | EC               | CORP              | US        |      1997 | NS      | $158102.49    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Bentley Systems Incorporated      | Bentley Systems, Inc.             | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      9350 | NS      | $345576.00    | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc                    | Salesforce, Inc.                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3162 | NS      | $419249.58    | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc.     | Monolithic Power Systems, Inc.    | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       951 | NS      | $336283.11    | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| EPAM Systems Inc.                 | EPAM Systems, Inc.                | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      1661 | NS      | $544376.14    | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Alteryx Inc                       | Alteryx, Inc.                     | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |      2335 | NS      | $118314.45    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Paycom Software Inc               | Paycom Software, Inc.             | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |       954 | NS      | $296035.74    | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Etsy Inc                          | Etsy, Inc.                        | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |      2020 | NS      | $241955.60    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com, Inc.                  | Amazon.com, Inc.                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      1920 | NS      | $161280.00    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Palo Alto Networks Inc            | Palo Alto Networks, Inc.          | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2859 | NS      | $398944.86    | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Affirm Holdings Inc               | Affirm Holdings, Inc.             | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8977 | NS      | $86807.59     | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Seagen Inc                        | Seagen, Inc.                      | CUSIP: 81181C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3241 | NS      | $416500.91    | 1.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Crowdstrike Holdings Inc          | Crowdstrike Holdings, Inc.        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1968 | NS      | $207210.72    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Bill Com Holdings Inc             | Bill.com Holdings, Inc.           | CUSIP: 090043100<br>LEI: 549300IBF9VZZIGOZW63 | Long             | EC               | CORP              | US        |      1460 | NS      | $159081.60    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Beigene Limited                   | BeiGene Ltd.                      | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CN        |       474 | NS      | $104251.56    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Twilio Inc                        | Twilio, Inc.                      | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |     11736 | NS      | $574594.56    | 2.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Chipotle Mexican Grill Inc        | Chipotle Mexican Grill, Inc.      | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       299 | NS      | $414859.51    | 1.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Costar Group Inc                  | CoStar Group, Inc.                | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5266 | NS      | $406956.48    | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Cintas Corporation                | Cintas Corporation                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1188 | NS      | $536524.56    | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Franco Nevada Corp                | Franco-Nevada Corporation         | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2024 | NS      | $276235.52    | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Ubiquiti Inc                      | Ubiquiti, Inc.                    | CUSIP: 90353W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2357 | NS      | $644710.21    | 2.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Netflix, Inc.                     | Netflix, Inc.                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       711 | NS      | $209659.68    | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Ares Management Corporation       | Ares Management Corporation       | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      6079 | NS      | $416046.76    | 1.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Royalty Pharma PLC                | Royalty Pharma plc                | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |      6153 | NS      | $243166.56    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| CRISPR Therapeutics AG            | CRISPR Therapeutics A.G.          | CUSIP: H17182108<br>LEI: 506700O6IRRIQLT3W370 | Long             | EC               | CORP              | CH        |      1725 | NS      | $70121.25     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Mercadolibre Inc                  | MercadoLibre, Inc.                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | AR        |       162 | NS      | $137090.88    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                | Meta Platforms, Inc.              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      4640 | NS      | $558377.60    | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                      | Fortinet, Inc.                    | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      7975 | NS      | $389897.75    | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Workday Inc                       | Workday, Inc.                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1271 | NS      | $212676.43    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Danaher Corporation               | Danaher Corporation               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      1571 | NS      | $416974.82    | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Cognex Corp                       | Cognex Corporation                | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |      9142 | NS      | $430679.62    | 1.55%             |  |  |  | No            | 1                  | On Loan: No      |
| ResMed Inc.                       | ResMed, Inc.                      | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      2179 | NS      | $453515.27    | 1.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Fleetcor Technologies Inc         | FleetCor Technologies, Inc.       | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      1885 | NS      | $346236.80    | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Roblox Corporation                | ROBLOX Corporation                | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4955 | NS      | $141019.30    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| The Trade Desk Inc                | Trade Desk, Inc. (The)            | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      5974 | NS      | $267814.42    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoom Video Communications Inc     | Zoom Video Communications, Inc.   | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      2637 | NS      | $178630.38    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Unity Software Inc                | Unity Software, Inc.              | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |      6452 | NS      | $184462.68    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc.                     | Alphabet, Inc.                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      9072 | NS      | $800422.56    | 2.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Exact Sciences Corporation        | Exact Sciences Corporation        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |      3457 | NS      | $171156.07    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Enphase Energy Inc                | Enphase Energy, Inc.              | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |       757 | NS      | $200574.72    | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Veeva Systems Inc                 | Veeva Systems, Inc.               | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      2530 | NS      | $408291.40    | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Shopify Inc                       | Shopify, Inc.                     | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      3220 | NS      | $111766.20    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| DraftKings Inc New                | DraftKings, Inc.                  | CUSIP: 26142V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16061 | NS      | $182934.79    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Bilibili Inc                      | Bilibili, Inc.                    | CUSIP: 090040106<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | CN        |      3139 | NS      | $74362.91     | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Toast Inc                         | Toast, Inc.                       | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     14003 | NS      | $252474.09    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Roku Inc                          | Roku, Inc.                        | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      5656 | NS      | $230199.20    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Copart Inc                        | Copart, Inc.                      | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      3813 | NS      | $232173.57    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Public Storage                    | Public Storage                    | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |       892 | NS      | $249929.48    | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Datadog Inc                       | Datadog, Inc.                     | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      2952 | NS      | $216972.00    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Ringcentral Inc                   | RingCentral, Inc.                 | CUSIP: 76680R206<br>LEI: 549300C8EH0H1614VE84 | Long             | EC               | CORP              | US        |      4837 | NS      | $171229.80    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Steel Dynamics, Inc.              | Steel Dynamics, Inc.              | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      6379 | NS      | $623228.30    | 2.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Capital One Financial Corporation | Capital One Financial Corporation | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1956 | NS      | $181829.76    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Okta Incorporation                | Okta, Inc.                        | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      4010 | NS      | $274003.30    | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbnb Inc                        | Airbnb, Inc.                      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      2917 | NS      | $249403.50    | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| 10X Genomics Inc                  | 10X Genomics, Inc.                | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |      5650 | NS      | $205886.00    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Wolfspeed Inc.                    | Wolfspeed, Inc.                   | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |      5202 | NS      | $359146.08    | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Tesla Inc                         | Tesla, Inc.                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       998 | NS      | $122933.64    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** EntrepreneurShares Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller