# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0001145549-25-050071
**Filing Date:** 2025-7
**Character Count:** 57533
**Document Hash:** 5f2aca98b41924675db492e43d3210e1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-050071.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001145549-25-050071

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Series Solutions
- **CENTRAL INDEX KEY:** 0001540305

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1112

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22668
- **FILM NUMBER:** 251168191

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN ST
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

## Series and Classes Contracts Data

### Vident U.S. Equity Strategy ETF (Series ID: S000043147)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000133545 | Vident U.S. Equity Strategy ETF | VUSE            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Vident U.S. Equity Strategy ETF** | **Vident U.S. Equity Strategy ETF** | **Vident U.S. Equity Strategy ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.8%** | **Shares** | **Value**  |
| **Communication Services - 8.7%** | **Communication Services - 8.7%** | |
| Alphabet, Inc. - Class A | 66503 | $11421225 |
| Cargurus, Inc. <sup>(a)</sup> | 117253 | 3674709 |
| Comcast Corporation - Class A | 16071 | 555574 |
| Electronic Arts, Inc. | 22220 | 3194792 |
| Meta Platforms, Inc. - Class A | 17814 | 11534387 |
| Netflix, Inc. <sup>(a)</sup> | 7537 | 9098892 |
| New York Times Company - Class A | 62039 | 3543668 |
| Pinterest, Inc. - Class A <sup>(a)</sup> | 18726 | 582566 |
| T-Mobile US, Inc. | 21392 | 5181142 |
| Yelp, Inc. <sup>(a)</sup> | 84323 | 3218609 |
|  |  | 52005564 |
| **Consumer Discretionary - 12.7%** | **Consumer Discretionary - 12.7%** |  |
| Airbnb, Inc. - Class A <sup>(a)</sup> | 6623 | 854367 |
| Amazon.com, Inc. <sup>(a)</sup> | 56046 | 11489990 |
| Booking Holdings, Inc. | 1479 | 8162497 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup> | 145483 | 7285789 |
| Deckers Outdoor Corporation <sup>(a)</sup> | 26566 | 2803244 |
| Grand Canyon Education, Inc. <sup>(a)</sup> | 16757 | 3315289 |
| Home Depot, Inc. | 31175 | 11481441 |
| Laureate Education, Inc. <sup>(a)</sup> | 193216 | 4347360 |
| Marriott International, Inc. - Class A | 15344 | 4048208 |
| McDonald's Corporation | 19380 | 6082413 |
| NVR, Inc. <sup>(a)</sup> | 339 | 2412300 |
| O'Reilly Automotive, Inc. <sup>(a)</sup> | 4528 | 6192040 |
| TJX Companies, Inc. | 61336 | 7783538 |
|  |  | 76258476 |
| **Consumer Staples - 7.0%** | **Consumer Staples - 7.0%** |  |
| Altria Group, Inc. | 36729 | 2226145 |
| Costco Wholesale Corporation | 11510 | 11972472 |
| Procter & Gamble Company | 69904 | 11875990 |
| Walmart, Inc. | 159081 | 15704476 |
|  |  | 41779083 |
| **Energy - 2.4%** | **Energy - 2.4%** |  |
| Cactus, Inc. - Class A | 24649 | 1010609 |
| Core Natural Resources, Inc. | 39116 | 2710739 |
| EOG Resources, Inc. | 44606 | 4842873 |
| International Seaways, Inc. | 68774 | 2548077 |
| Texas Pacific Land Corporation | 2833 | 3156047 |
|  |  | 14268345 |
| **Financials - 16.6%** | **Financials - 16.6%** |  |
| Ameriprise Financial, Inc. | 7018 | 3573846 |
| Bank of America Corporation | 115912 | 5115197 |
| Cboe Global Markets, Inc. | 14131 | 3237695 |
| CVB Financial Corporation | 189674 | 3556388 |
| DigitalBridge Group, Inc. | 250409 | 2769524 |
| Enact Holdings, Inc. | 89668 | 3174247 |
| Equitable Holdings, Inc. | 55902 | 2955539 |
| Fiserv, Inc. <sup>(a)</sup> | 32100 | 5225559 |
| JPMorgan Chase & Company | 45612 | 12041568 |
| Mastercard, Inc. - Class A | 21327 | 12489091 |
| MGIC Investment Corporation | 124646 | 3296887 |
| Moody's Corporation | 11897 | 5702470 |
| Morningstar, Inc. | 9187 | 2833455 |
| MSCI, Inc. | 4501 | 2538654 |
| Pathward Financial, Inc. | 43457 | 3391819 |
| Progressive Corporation | 21037 | 5994072 |
| SEI Investments Company | 8648 | 737328 |
| Sezzle, Inc. <sup>(a)</sup> | 22368 | 2386889 |
| Tradeweb Markets, Inc. - Class A | 25165 | 3635084 |
| Visa, Inc. - Class A | 34073 | 12443119 |
| Voya Financial, Inc. | 41695 | 2773551 |
|  |  | 99871982 |
| **Health Care - 10.5%** | **Health Care - 10.5%** |  |
| AbbVie, Inc. | 58416 | 10871802 |
| ADMA Biologics, Inc. <sup>(a)</sup> | 139506 | 2767799 |
| CorVel Corporation <sup>(a)</sup> | 20879 | 2323206 |
| Doximity, Inc. - Class A <sup>(a)</sup> | 20000 | 1041800 |
| Eli Lilly & Company | 13522 | 9974774 |
| Exelixis, Inc. <sup>(a)</sup> | 100326 | 4318031 |
| Gilead Sciences, Inc. | 5251 | 578030 |
| Hims & Hers Health, Inc. <sup>(a)</sup> | 28324 | 1602005 |
| Johnson & Johnson | 72804 | 11299909 |
| Lantheus Holdings, Inc. <sup>(a)</sup> | 44199 | 3339676 |
| Medpace Holdings, Inc. <sup>(a)</sup> | 2009 | 592454 |
| Merck & Company, Inc. | 46511 | 3573905 |
| ResMed, Inc. | 12964 | 3173458 |
| United Therapeutics Corporation <sup>(a)</sup> | 9257 | 2951595 |
| Zoetis, Inc. | 25684 | 4331093 |
|  |  | 62739537 |
| **Industrials - 11.5%** | **Industrials - 11.5%** |  |
| AAON, Inc. | 22168 | 2134557 |
| Automatic Data Processing, Inc. | 19090 | 6214368 |
| Carlisle Companies, Inc. | 4339 | 1649601 |
| Caterpillar, Inc. | 5541 | 1928434 |
| Cintas Corporation | 20881 | 4729546 |
| EMCOR Group, Inc. | 9517 | 4490692 |
| Enerpac Tool Group Corporation | 65819 | 2822319 |
| Fastenal Company | 79714 | 3295377 |
| IES Holdings, Inc. <sup>(a)</sup> | 18524 | 4809942 |
| Illinois Tool Works, Inc. | 16220 | 3975197 |
| MSA Safety, Inc. | 9144 | 1490198 |
| Old Dominion Freight Line, Inc. | 16363 | 2620862 |
| Parker-Hannifin Corporation | 6439 | 4280003 |
| Paychex, Inc. | 19881 | 3139409 |
| TransDigm Group, Inc. | 4534 | 6657862 |
| Uber Technologies, Inc. <sup>(a)</sup> | 77995 | 6564059 |
| Valmont Industries, Inc. | 7534 | 2396113 |
| Verisk Analytics, Inc. | 9893 | 3107787 |
| Watts Water Technologies, Inc. - Class A | 12094 | 2928199 |
|  |  | 69234525 |
| **Information Technology - 26.3%<sup>(b)</sup>** | **Information Technology - 26.3%<sup>(b)</sup>** |  |
| A10 Networks, Inc. | 128139 | 2211679 |
| Adobe, Inc. <sup>(a)</sup> | 13412 | 5567187 |
| Apple, Inc. | 60275 | 12106234 |
| AppLovin Corporation - Class A <sup>(a)</sup> | 6015 | 2363895 |
| Arista Networks, Inc. <sup>(a)</sup> | 26613 | 2305750 |
| Autodesk, Inc. <sup>(a)</sup> | 17246 | 5106886 |
| Badger Meter, Inc. | 10755 | 2669606 |
| Broadcom, Inc. | 71655 | 17345526 |
| Cirrus Logic, Inc. <sup>(a)</sup> | 23786 | 2339591 |
| Clear Secure, Inc. - Class A | 137926 | 3413669 |
| Commvault Systems, Inc. <sup>(a)</sup> | 21934 | 4017212 |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 2446 | 1152971 |
| Docusign, Inc. <sup>(a)</sup> | 26507 | 2348785 |
| Dolby Laboratories, Inc. - Class A | 31048 | 2305624 |
| Fair Isaac Corporation <sup>(a)</sup> | 2146 | 3704597 |
| Fortinet, Inc. <sup>(a)</sup> | 52770 | 5370931 |
| InterDigital, Inc. | 17767 | 3860058 |
| KLA Corporation | 2542 | 1923989 |
| LiveRamp Holdings, Inc. <sup>(a)</sup> | 83545 | 2721896 |
| Manhattan Associates, Inc. <sup>(a)</sup> | 8027 | 1515337 |
| Microsoft Corporation | 29511 | 13585684 |
| Monolithic Power Systems, Inc. | 2260 | 1495894 |
| Motorola Solutions, Inc. | 13630 | 5661629 |
| NetApp, Inc. | 24131 | 2392830 |
| NVIDIA Corporation | 114434 | 15463466 |
| Oracle Corporation | 87668 | 14511684 |
| Palantir Technologies, Inc. - Class A <sup>(a)</sup> | 36324 | 4786777 |
| Photronics, Inc. <sup>(a)</sup> | 138163 | 2308704 |
| Qualys, Inc. <sup>(a)</sup> | 19230 | 2664317 |
| Rambus, Inc. <sup>(a)</sup> | 42935 | 2295734 |
| Salesforce, Inc. | 3111 | 825566 |
| ServiceNow, Inc. <sup>(a)</sup> | 3630 | 3670257 |
| Workday, Inc. - Class A <sup>(a)</sup> | 16208 | 4014884 |
|  |  | 158028849 |
| **Materials - 1.9%** | **Materials - 1.9%** |  |
| Alpha Metallurgical Resources, Inc. <sup>(a)</sup> | 6702 | 750892 |
| Ecolab, Inc. | 22593 | 6001153 |
| Sherwin-Williams Company | 12346 | 4429868 |
|  |  | 11181913 |
| **Real Estate - 0.9%** | **Real Estate - 0.9%** |  |
| Jones Lang LaSalle, Inc. <sup>(a)</sup> | 5473 | 1218837 |
| SBA Communications Corporation | 13998 | 3245996 |
| Simon Property Group, Inc. | 5191 | 846497 |
|  |  | 5311330 |
| **Utilities - 1.3%** | **Utilities - 1.3%** |  |
| Constellation Energy Corporation | 21423 | 6558651 |
| Vistra Corporation | 9671 | 1552873 |
|  |  | 8111524 |
| **TOTAL COMMON STOCKS** (Cost $514,251,953) | **TOTAL COMMON STOCKS** (Cost $514,251,953) | 598791128 |
| **TOTAL INVESTMENTS - 99.8% (**Cost $514,251,953**)** | **TOTAL INVESTMENTS - 99.8% (**Cost $514,251,953**)** | 598791128 |
| Other Assets in Excess of Liabilities - 0.2% | Other Assets in Excess of Liabilities - 0.2% | 1202166 |
| **TOTAL NET ASSETS - 100.0%** |  | $599993294 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

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

------

#### Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
Vident U.S. Equity Strategy ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $598791128 | $– | $– | $598791128 |
| Total Investments | $598791128 | $– | $– | $598791128 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

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

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

- **a. Name of Series:** Vident U.S. Equity Strategy ETF

- **b. EDGAR series identifier (if any):** S000043147

- **c. LEI of Series:** 549300AZ81M6116DZI53

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $601745447.03

**Total Liabilities:** $1752200.80

**Net Assets:** $599993246.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133545 | -6.08%               | 1.25%                | 5.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $25166911.46             | $-60873594.86                              |
| Month 2  | $294549.72               | $6886323.49                                |
| Month 3  | $43397.24                | $31783566.97                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                   | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Pinterest Inc                          | Pinterest Inc                          | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18726 | NS      | $582565.86    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Procter & Gamble Co/The                | Procter & Gamble Co/The                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     69904 | NS      | $11875990.56  | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Progressive Corp/The                   | Progressive Corp/The                   | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     21037 | NS      | $5994072.41   | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Qualys Inc                             | Qualys Inc                             | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     19230 | NS      | $2664316.50   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Rambus Inc                             | Rambus Inc                             | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     42935 | NS      | $2295734.45   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| ResMed Inc                             | ResMed Inc                             | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     12964 | NS      | $3173457.56   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc                         | Salesforce Inc                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3111 | NS      | $825566.07    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Sherwin-Williams Co/The                | Sherwin-Williams Co/The                | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     12346 | NS      | $4429868.26   | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Simon Property Group Inc               | Simon Property Group Inc               | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      5191 | NS      | $846496.37    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| TJX Cos Inc/The                        | TJX Cos Inc/The                        | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     61336 | NS      | $7783538.40   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| T-Mobile US Inc                        | T-Mobile US Inc                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     21392 | NS      | $5181142.40   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Pacific Land Corp                | Texas Pacific Land Corp                | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2833 | NS      | $3156046.99   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Tradeweb Markets Inc                   | Tradeweb Markets Inc                   | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25165 | NS      | $3635084.25   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| TransDigm Group Inc                    | TransDigm Group Inc                    | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4534 | NS      | $6657861.62   | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1058646 | NS      | $1058645.83   | 0.18%             |  |  |  | No            | N/A                | On Loan: No      |
| Uber Technologies Inc                  | Uber Technologies Inc                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     77995 | NS      | $6564059.20   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| United Therapeutics Corp               | United Therapeutics Corp               | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      9257 | NS      | $2951594.45   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Valmont Industries Inc                 | Valmont Industries Inc                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      7534 | NS      | $2396113.36   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Verisk Analytics Inc                   | Verisk Analytics Inc                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      9893 | NS      | $3107787.02   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Visa Inc                               | Visa Inc                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     34073 | NS      | $12443118.87  | 2.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Vistra Corp                            | Vistra Corp                            | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      9671 | NS      | $1552872.47   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Voya Financial Inc                     | Voya Financial Inc                     | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |     41695 | NS      | $2773551.40   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Walmart Inc                            | Walmart Inc                            | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    159081 | NS      | $15704476.32  | 2.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Watts Water Technologies Inc           | Watts Water Technologies Inc           | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |     12094 | NS      | $2928199.28   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Workday Inc                            | Workday Inc                            | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     16208 | NS      | $4014883.68   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Yelp Inc                               | Yelp Inc                               | CUSIP: 985817105<br>LEI: 5299007OU2DOSXPQBO35 | Long             | EC               | CORP              | US        |     84323 | NS      | $3218608.91   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Dolby Laboratories Inc                 | Dolby Laboratories Inc                 | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |     31048 | NS      | $2305624.48   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Doximity Inc                           | Doximity Inc                           | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $1041800.00   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| EOG Resources Inc                      | EOG Resources Inc                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     44606 | NS      | $4842873.42   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Ecolab Inc                             | Ecolab Inc                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     22593 | NS      | $6001152.66   | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Electronic Arts Inc                    | Electronic Arts Inc                    | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     22220 | NS      | $3194791.60   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| EMCOR Group Inc                        | EMCOR Group Inc                        | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      9517 | NS      | $4490691.62   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Enact Holdings Inc                     | Enact Holdings Inc                     | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |     89668 | NS      | $3174247.20   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Enerpac Tool Group Corp                | Enerpac Tool Group Corp                | CUSIP: 292765104<br>LEI: IZW37BPZKUJE1QXGB081 | Long             | EC               | CORP              | US        |     65819 | NS      | $2822318.72   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Equitable Holdings Inc                 | Equitable Holdings Inc                 | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |     55902 | NS      | $2955538.74   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Exelixis Inc                           | Exelixis Inc                           | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    100326 | NS      | $4318031.04   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                     | Meta Platforms Inc                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     17814 | NS      | $11534386.86  | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Fair Isaac Corp                        | Fair Isaac Corp                        | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      2146 | NS      | $3704596.88   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Fastenal Co                            | Fastenal Co                            | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     79714 | NS      | $3295376.76   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Fiserv Inc                             | Fiserv Inc                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     32100 | NS      | $5225559.00   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortinet Inc                           | Fortinet Inc                           | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     52770 | NS      | $5370930.60   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Gilead Sciences Inc                    | Gilead Sciences Inc                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5251 | NS      | $578030.08    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Grand Canyon Education Inc             | Grand Canyon Education Inc             | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     16757 | NS      | $3315288.67   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Hims & Hers Health Inc                 | Hims & Hers Health Inc                 | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |     28324 | NS      | $1602005.44   | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/The                     | Home Depot Inc/The                     | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     31175 | NS      | $11481440.75  | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| IES Holdings Inc                       | IES Holdings Inc                       | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     18524 | NS      | $4809941.84   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Illinois Tool Works Inc                | Illinois Tool Works Inc                | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     16220 | NS      | $3975197.60   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| InterDigital Inc                       | InterDigital Inc                       | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17767 | NS      | $3860058.42   | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase & Co                    | JPMorgan Chase & Co                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     45612 | NS      | $12041568.00  | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson & Johnson                      | Johnson & Johnson                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     72804 | NS      | $11299908.84  | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Jones Lang LaSalle Inc                 | Jones Lang LaSalle Inc                 | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      5473 | NS      | $1218837.10   | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                               | KLA Corp                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      2542 | NS      | $1923988.96   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Lantheus Holdings Inc                  | Lantheus Holdings Inc                  | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     44199 | NS      | $3339676.44   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Laureate Education Inc                 | Laureate Education Inc                 | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |    193216 | NS      | $4347360.00   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Eli Lilly & Co                         | Eli Lilly & Co                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     13522 | NS      | $9974773.74   | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| LiveRamp Holdings Inc                  | LiveRamp Holdings Inc                  | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     83545 | NS      | $2721896.10   | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| MGIC Investment Corp                   | MGIC Investment Corp                   | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |    124646 | NS      | $3296886.70   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Manhattan Associates Inc               | Manhattan Associates Inc               | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      8027 | NS      | $1515337.06   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Marriott International Inc/MD          | Marriott International Inc/MD          | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     15344 | NS      | $4048207.52   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Mastercard Inc                         | Mastercard Inc                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     21327 | NS      | $12489091.20  | 2.08%             |  |  |  | No            | 1                  | On Loan: No      |
| McDonald's Corp                        | McDonald's Corp                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     19380 | NS      | $6082413.00   | 1.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Medpace Holdings Inc                   | Medpace Holdings Inc                   | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      2009 | NS      | $592454.10    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Merck & Co Inc                         | Merck & Co Inc                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     46511 | NS      | $3573905.24   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                         | Microsoft Corp                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     29511 | NS      | $13585683.96  | 2.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Monolithic Power Systems Inc           | Monolithic Power Systems Inc           | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      2260 | NS      | $1495894.00   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Moody's Corp                           | Moody's Corp                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     11897 | NS      | $5702470.04   | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Morningstar Inc                        | Morningstar Inc                        | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      9187 | NS      | $2833454.54   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Motorola Solutions Inc                 | Motorola Solutions Inc                 | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     13630 | NS      | $5661629.40   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| International Seaways Inc              | International Seaways Inc              | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |     68774 | NS      | $2548076.70   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                           | Broadcom Inc                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     71655 | NS      | $17345525.85  | 2.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Cactus Inc                             | Cactus Inc                             | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |     24649 | NS      | $1010609.00   | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Cargurus Inc                           | Cargurus Inc                           | CUSIP: 141788109<br>LEI: 54930027BKQN6B7X7G78 | Long             | EC               | CORP              | US        |    117253 | NS      | $3674709.02   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlisle Cos Inc                       | Carlisle Cos Inc                       | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |      4339 | NS      | $1649601.02   | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| O'Reilly Automotive Inc                | O'Reilly Automotive Inc                | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      4528 | NS      | $6192040.00   | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Old Dominion Freight Line Inc          | Old Dominion Freight Line Inc          | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     16363 | NS      | $2620861.71   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                            | Oracle Corp                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     87668 | NS      | $14511684.04  | 2.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc              | Palantir Technologies Inc              | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     36324 | NS      | $4786776.72   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| SBA Communications Corp                | SBA Communications Corp                | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     13998 | NS      | $3245996.22   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| SEI Investments Co                     | SEI Investments Co                     | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      8648 | NS      | $737328.48    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Sezzle Inc                             | Sezzle Inc                             | CUSIP: 78435P105<br>LEI: 9845000CA64541AE3I35 | Long             | EC               | CORP              | US        |     22368 | NS      | $2386889.28   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| ServiceNow Inc                         | ServiceNow Inc                         | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      3630 | NS      | $3670256.70   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| Zoetis Inc                             | Zoetis Inc                             | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     25684 | NS      | $4331092.92   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| AAON Inc                               | AAON Inc                               | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22168 | NS      | $2134556.72   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| ADMA Biologics Inc                     | ADMA Biologics Inc                     | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139506 | NS      | $2767799.04   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| A10 Networks Inc                       | A10 Networks Inc                       | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |    128139 | NS      | $2211679.14   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc                             | AbbVie Inc                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     58416 | NS      | $10871801.76  | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Adobe Inc                              | Adobe Inc                              | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     13412 | NS      | $5567187.08   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbnb Inc                             | Airbnb Inc                             | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      6623 | NS      | $854367.00    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpha Metallurgical Resources          | Alpha Metallurgical Resources Inc      | CUSIP: 020764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6702 | NS      | $750892.08    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Alphabet Inc                           | Alphabet Inc                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     66503 | NS      | $11421225.22  | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Altria Group Inc                       | Altria Group Inc                       | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     36729 | NS      | $2226144.69   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Amazon.com Inc                         | Amazon.com Inc                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     56046 | NS      | $11489990.46  | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Ameriprise Financial Inc               | Ameriprise Financial Inc               | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      7018 | NS      | $3573846.32   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Apple Inc                              | Apple Inc                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     60275 | NS      | $12106233.75  | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| AppLovin Corp                          | AppLovin Corp                          | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6015 | NS      | $2363895.00   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Arista Networks Inc                    | Arista Networks Inc                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     26613 | NS      | $2305750.32   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Autodesk Inc                           | Autodesk Inc                           | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     17246 | NS      | $5106885.52   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Automatic Data Processing Inc          | Automatic Data Processing Inc          | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     19090 | NS      | $6214367.70   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Badger Meter Inc                       | Badger Meter Inc                       | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     10755 | NS      | $2669606.10   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America Corp                   | Bank of America Corp                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    115912 | NS      | $5115196.56   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Booking Holdings Inc                   | Booking Holdings Inc                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1479 | NS      | $8162497.47   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Cboe Global Markets Inc                | Cboe Global Markets Inc                | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     14131 | NS      | $3237694.72   | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Caterpillar Inc                        | Caterpillar Inc                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      5541 | NS      | $1928434.23   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Chipotle Mexican Grill Inc             | Chipotle Mexican Grill Inc             | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145483 | NS      | $7285788.64   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Cirrus Logic Inc                       | Cirrus Logic Inc                       | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |     23786 | NS      | $2339590.96   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Cintas Corp                            | Cintas Corp                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20881 | NS      | $4729546.50   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Clear Secure Inc                       | Clear Secure Inc                       | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137926 | NS      | $3413668.50   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Comcast Corp                           | Comcast Corp                           | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     16071 | NS      | $555574.47    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Commvault Systems Inc                  | Commvault Systems Inc                  | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     21934 | NS      | $4017212.10   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Energy Corp              | Constellation Energy Corp              | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     21423 | NS      | $6558651.45   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Core Natural Resources Inc             | Core Natural Resources Inc             | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     39116 | NS      | $2710738.80   | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| CorVel Corp                            | CorVel Corp                            | CUSIP: 221006109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20879 | NS      | $2323206.33   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Costco Wholesale Corp                  | Costco Wholesale Corp                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     11510 | NS      | $11972471.80  | 2.00%             |  |  |  | No            | 1                  | On Loan: No      |
| MSA Safety Inc                         | MSA Safety Inc                         | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      9144 | NS      | $1490197.68   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| MSCI Inc                               | MSCI Inc                               | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      4501 | NS      | $2538654.02   | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Pathward Financial Inc                 | Pathward Financial Inc                 | CUSIP: 59100U108<br>LEI: 5493004X52BH1NBLW813 | Long             | EC               | CORP              | US        |     43457 | NS      | $3391818.85   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| NVR Inc                                | NVR Inc                                | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       339 | NS      | $2412300.27   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| NetApp Inc                             | NetApp Inc                             | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |     24131 | NS      | $2392829.96   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Netflix Inc                            | Netflix Inc                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      7537 | NS      | $9098892.51   | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Times Co/The                  | New York Times Co/The                  | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     62039 | NS      | $3543667.68   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp                            | NVIDIA Corp                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    114434 | NS      | $15463466.42  | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Parker-Hannifin Corp                   | Parker-Hannifin Corp                   | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      6439 | NS      | $4280003.30   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Paychex Inc                            | Paychex Inc                            | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     19881 | NS      | $3139408.71   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Photronics Inc                         | Photronics Inc                         | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |    138163 | NS      | $2308703.73   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| CVB Financial Corp                     | CVB Financial Corp                     | CUSIP: 126600105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    189674 | NS      | $3556387.50   | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Crowdstrike Holdings Inc               | Crowdstrike Holdings Inc               | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      2446 | NS      | $1152971.02   | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Deckers Outdoor Corp                   | Deckers Outdoor Corp                   | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |     26566 | NS      | $2803244.32   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| DigitalBridge Group Inc                | DigitalBridge Group Inc                | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |    250409 | NS      | $2769523.54   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Docusign Inc                           | Docusign Inc                           | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     26507 | NS      | $2348785.27   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer