# EDGAR Filing Document

**Accession Number:** 0001872253
**File Stem:** 0000940400-25-009728
**Filing Date:** 2025-11
**Character Count:** 22248
**Document Hash:** 59f876285e279ede93a8d1073d0d6d60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009728.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009728

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Total Fund Solution
- **CENTRAL INDEX KEY:** 0001872253

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23724
- **FILM NUMBER:** 251513040

**BUSINESS ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286
- **BUSINESS PHONE:** 703-608-3499

**MAIL ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286

## Series and Classes Contracts Data

### Cromwell Foresight Global Infrastructure Fund (Series ID: S000079359)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000241858 | Institutional Class | CFGIX           |

## Nport-Ex

#### Cromwell

#### Foresight

#### Global

#### Infrastructure

#### Fund

#### Schedule

#### of

#### Investments
September

30,

2025

(Unaudited)

#### Shares

#### Value

#### COMMON

#### STOCKS

#### -

#### 71

#### .9

#### %

#### Digital

#### Infrastructure

#### -

#### 12

#### .8

#### %
Cellnex

Telecom

SA

(a) ..................................................................

73,451

$

2,546,211

Chorus

Ltd.

...........................................................................

172,893

959,732

Cordiant

Digital

Infrastructure

Ltd.

........................................................

948,683

1,243,958

Infrastrutture

Wireless

Italiane

SpA

(a) .....................................................

134,351

1,580,095

6,329,996

#### Diversified

#### Infrastructure

#### -

#### 12

#### .1

#### %
3i

Infrastructure

PLC

...................................................................

393,079

1,914,308

Infratil

Ltd.

............................................................................

320,585

2,301,262

International

Public

Partnerships

Ltd.

.....................................................

594,642

1,004,807

Sequoia

Economic

Infrastructure

Income

Fund

Ltd.

........................................

729,266

765,176

5,985,553

#### Electrical

#### Utilities

#### -

#### 11

#### .1

#### %
Elia

Group

SA

.........................................................................

12,747

1,473,866

Hydro

One

Ltd.

(a) .......................................................................

6,654

237,438

National

Grid

PLC

.....................................................................

171,160

2,461,810

SSE

PLC

.............................................................................

55,923

1,313,030

5,486,144

#### Health

#### Care

#### -

#### 0

#### .4

#### %
Chartwell

Retirement

Residences

.......................................................

12,900

187,094

#### Renewable

#### Energy

#### -

#### 24

#### .8

#### %
Boralex,

Inc.

-

Class

A

..................................................................

102,442

2,000,395

Brookfield

Renewable

Partners

LP

.......................................................

69,169

1,783,162

Clearway

Energy,

Inc.

-

Class

C

.........................................................

66,516

1,879,077

Greencoat

Renewables

PLC

............................................................

1,137,437

981,684

Greencoat

UK

Wind

PLC

...............................................................

651,792

981,306

Grenergy

Renovables

SA

(b) .............................................................

12,238

929,505

Northland

Power,

Inc.

..................................................................

120,911

2,024,742

Renewables

Infrastructure

Group

Ltd.

....................................................

1,635,375

1,707,925

12,287,796

#### Transport

#### -

#### 6

#### .8

#### %
Canadian

National

Railway

Co.

..........................................................

7,422

700,060

Canadian

Pacific

Kansas

City

Ltd.

.......................................................

13,527

1,007,671

Transurban

Group

.....................................................................

181,587

1,659,403

3,367,134

#### Utilities

#### -

#### 3

#### .9

#### %
Severn

Trent

PLC

......................................................................

16,633

580,518

Terna

-

Rete

Elettrica

Nazionale

.........................................................

135,165

1,372,830

1,953,348

TOTAL

COMMON

STOCKS

(Cost

$

35,099,041)

...........................................................

35,597,065

#### Cromwell

#### Foresight

#### Global

#### Infrastructure

#### Fund

#### Schedule

#### of

#### Investments
(Continued)

September

30,

2025

(Unaudited)

#### Shares

#### Value

#### REAL

#### ESTATE

#### INVESTMENT

#### TRUSTS

#### -

#### 25

#### .1

#### %

#### Digital

#### Infrastructure

#### -

#### 16

#### .3

#### %
American

Tower

Corp.

..................................................................

11,623

$

2,235,335

Crown

Castle,

Inc.

.....................................................................

14,587

1,407,500

Digital

Realty

Trust,

Inc.

................................................................

10,713

1,852,063

Equinix,

Inc.

...........................................................................

3,270

2,561,195

8,056,093

#### Diversified

#### Infrastructure

#### -

#### 2

#### .0

#### %
Easterly

Government

Properties,

Inc.

....................................................

43,765

1,003,532

#### Health

#### Care

#### -

#### 6

#### .8

#### %
Healthpeak

Properties,

Inc.

.............................................................

70,020

1,340,883

Primary

Health

Properties

PLC

..........................................................

540,155

665,527

Ventas,

Inc.

...........................................................................

19,750

1,382,302

3,388,712

TOTAL

REAL

ESTATE

INVESTMENT

TRUSTS

(Cost

$

12,290,908)

..........................................

12,448,337

TOTAL

INVESTMENTS

-

.0

%

(Cost

$

47,389,949)

.......................................................

$

48,045,402

Other

Assets

in

Excess

of

Liabilities

-

.0

%

................................................................

1,466,458

#### TOTAL

#### NET

#### ASSETS

#### -

#### 100%

#### ...........................................................................

#### $

#### 49,511,860
Percentages

are

stated

as

a

percent

of

net

assets.

LP

-

Limited

Partnership

PLC

-

Public

Limited

Company

SA

-

Sociedad

Anónima

SpA

-

Societa

per

Azioni

(a) Security

is

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933,

as

amended.

These

securities

may

only

be

resold

in

transactions

exempt

from

registration

to

qualified

institutional

investors.

As

of

September

30,

2025,

the

value

of

these

securities

total

$4,363,744

or

8.8%

of

the

Fund's

net

assets.

(b) Non-income

producing

security.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Total Fund Solution

- **b. Investment Company Act file number:** 811-23724

- **c. CIK number of Registrant:** 0001872253

- **d. LEI of Registrant:** 549300CL4E1CB85QJL55

- **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:** 626-914-7363

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

- **a. Name of Series:** Cromwell Foresight Global Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000079359

- **c. LEI of Series:** 549300TLDGMT7A0XDI29

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $49722829.03

**Total Liabilities:** $203652.23

**Net Assets:** $49519176.80

**Cash Not Reported:** $139784.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241858 | -1.21%               | -0.64%               | 0.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $74830.00                | $-687998.14                                |
| Month 2  | $-52164.62               | $-454429.52                                |
| Month 3  | $-259589.59              | $308871.78                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Boralex Inc                                       | Boralex Inc                                       | CUSIP: 09950M300<br>LEI: 5493004UT7HNQU2SVR90 | Long             | EC               | CORP              | CA        |    102442 | NS      | $2000394.67   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italia                    | Infrastrutture Wireless Italiane SpA              | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |    134351 | NS      | $1580095.05   | 3.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Clearway Energy Inc                               | Clearway Energy Inc                               | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     66516 | NS      | $1879077.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Infratil Ltd                                      | Infratil Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NZ        |    320585 | NS      | $2301262.05   | 4.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Grenergy Renovables SA                            | Grenergy Renovables SA                            | CUSIP: 000000000<br>LEI: 959800M1FVPL5BMW3R13 | Long             | EC               | CORP              | ES        |     12238 | NS      | $929505.47    | 1.88%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC                                 | National Grid PLC                                 | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    171160 | NS      | $2461810.37   | 4.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc                          | Digital Realty Trust Inc                          | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     10713 | NS      | $1852063.44   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                       | Equinix Inc                                       | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      3270 | NS      | $2561194.80   | 5.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                                | Cellnex Telecom SA                                | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     73451 | NS      | $2546211.40   | 5.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Renewables Infrastructure Group Ltd/The           | Renewables Infrastructure Group Ltd/The           | CUSIP: 000000000<br>LEI: 213800NO6Q7Q7HMOMT20 | Long             | EC               | RF                | GG        |   1635375 | NS      | $1707924.91   | 3.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Cordiant Digital Infrastructure Ltd/Fund          | Cordiant Digital Infrastructure Ltd/Fund          | CUSIP: 000000000<br>LEI: 213800T8RBBWZQ7FTF84 | Long             | EC               | RF                | GG        |    948683 | NS      | $1243958.21   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| International Public Partnerships Ltd             | International Public Partnerships Ltd             | CUSIP: 000000000<br>LEI: 2138002AJT55TI5M4W30 | Long             | EC               | RF                | GG        |    688214 | NS      | $1162922.39   | 2.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Elia Group SA/NV                                  | Elia Group SA/NV                                  | CUSIP: 000000000<br>LEI: 549300S1MP1NFDIKT460 | Long             | EC               | CORP              | BE        |     12747 | NS      | $1473865.88   | 2.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian National Railway Co                      | Canadian National Railway Co                      | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      7422 | NS      | $700059.85    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |   1470996 | NS      | $1470995.63   | 2.97%             |  |  |  | No            |                  2 | On Loan: No      |
| SSE PLC                                           | SSE PLC                                           | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |     55923 | NS      | $1313030.11   | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Severn Trent PLC                                  | Severn Trent PLC                                  | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |     12812 | NS      | $447158.92    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Greencoat UK Wind PLC/Funds                       | Greencoat UK Wind PLC/Funds                       | CUSIP: 000000000<br>LEI: 213800ZPBBK8H51RX165 | Long             | EC               | RF                | GB        |    651792 | NS      | $981305.72    | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Hydro One Ltd                                     | Hydro One Ltd                                     | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |      3177 | NS      | $113366.43    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | Crown Castle Inc                                  | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     14587 | NS      | $1407499.63   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                        | Ventas Inc                                        | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     20444 | NS      | $1430875.56   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Renewable Partners                     | Brookfield Renewable Partners LP                  | CUSIP: 000000000<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EC               | CORP              | CA        |     69169 | NS      | $1783162.30   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Northland Power Inc                               | Northland Power Inc                               | CUSIP: 666511100<br>LEI: 8945002IJ77NEBK48M81 | Long             | EC               | CORP              | CA        |    120911 | NS      | $2024742.20   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sequoia Economic Infrastructure Income Fund Ltd   | Sequoia Economic Infrastructure Income Fund Ltd   | CUSIP: 000000000<br>LEI: 2138006OW12FQHJ6PX91 | Long             | EC               | RF                | GG        |    729266 | NS      | $765176.28    | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| 3i Infrastructure PLC                             | 3i Infrastructure PLC                             | CUSIP: 000000000<br>LEI: 549300SQ4ZSVSWC6H750 | Long             | EC               | RF                | JE        |    393079 | NS      | $1914307.49   | 3.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Greencoat Renewables PLC                          | Greencoat Renewables PLC                          | CUSIP: 000000000<br>LEI: 635400TVSIFFQOB8RB67 | Long             | EC               | CORP              | IE        |   1137437 | NS      | $981684.20    | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthpeak Properties Inc                         | Healthpeak Properties Inc                         | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     70020 | NS      | $1340883.00   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties                    | Easterly Government Properties Inc                | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               | CORP              | US        |     43765 | NS      | $1003531.45   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Transurban Group                                  | Transurban Group                                  | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |    181587 | NS      | $1659402.72   | 3.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Terna - Rete Elettrica Naziona                    | Terna - Rete Elettrica Nazionale                  | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |    135165 | NS      | $1372830.51   | 2.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Pacific Kansas City L                    | Canadian Pacific Kansas City Ltd                  | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     13527 | NS      | $1007671.09   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chartwell Retirement Residence                    | Chartwell Retirement Residences                   | CUSIP: 16141A103<br>LEI: 549300M7UBEIZBWP4069 | Long             | EC               | CORP              | CA        |     12900 | NS      | $187093.57    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | American Tower Corp                               | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     11623 | NS      | $2235335.36   | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Chorus Ltd                                        | Chorus Ltd                                        | CUSIP: 000000000<br>LEI: R7NJHU48LTCIOB9BVU57 | Long             | EC               | CORP              | NZ        |    172893 | NS      | $959731.46    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Primary Health Properties PLC                     | Primary Health Properties PLC                     | CUSIP: 000000000<br>LEI: 213800Y5CJHXOATK7X11 | Long             | EC               | CORP              | GB        |    540155 | NS      | $665526.49    | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Total Fund Solution

**Signature:** Brian Nelson

**Name of Signer:** Brian Nelson

**Title:** Treasurer, Principal Financial Officer