# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0001145549-23-004679
**Filing Date:** 2023-1
**Character Count:** 46117
**Document Hash:** 3f50ad323a9b427dffabdb5f32560334
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-004679.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001145549-23-004679

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ETF Series Solutions
- **CENTRAL INDEX KEY:** 0001540305
- **IRS NUMBER:** 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:** 23567603

**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

### Hoya Capital Housing ETF (Series ID: S000065066)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000210709 | Hoya Capital Housing ETF | HOMZ            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Hoya Capital Housing ETF** | **Hoya Capital Housing ETF** | |
| Schedule of Investments | Schedule of Investments |  |
| November 30, 2022 (Unaudited) | November 30, 2022 (Unaudited) |  |
| **Shares** | **Security Description** | **Value** |
|  | **COMMON STOCKS - 99.7%** |  |
|  | **Home Building Products & Materials - 15.3%** |  |
| 4612 | A.O. Smith Corporation | $280133 |
| 3337 | Armstrong World Industries, Inc. | 254980 |
| 4590 | Beacon Roofing Supply, Inc. (a) | 268010 |
| 4556 | Builders FirstSource, Inc. (a) | 291265 |
| 7090 | Carrier Global Corporation | 314229 |
| 1372 | Cavco Industries, Inc. (a) | 315052 |
| 2153 | Eagle Materials, Inc. | 293540 |
| 7374 | Leggett & Platt, Inc. | 262588 |
| 1339 | Lennox International, Inc. | 348716 |
| 4234 | Louisiana-Pacific Corporation | 270129 |
| 4930 | Masco Corporation | 250345 |
| 2036 | Mohawk Industries, Inc. (a) | 206308 |
| 2972 | Owens Corning | 264033 |
| 5046 | PotlatchDeltic Corporation | 241148 |
| 2651 | Simpson Manufacturing Company, Inc. | 246676 |
| 5968 | Skyline Champion Corporation (a) | 310276 |
| 1451 | TopBuild Corporation (a) | 223570 |
| 4478 | Trex Company, Inc. (a) | 205496 |
| 1104 | Watsco, Inc. | 296954 |
| 7162 | Weyerhaeuser Company | 234269 |
|  |  | 5377717 |
|  | **Home Furnishings & Home Goods - 14.9%** |  |
| 2685 | Amazon.com, Inc. (a) | 259210 |
| 5714 | American Woodmark Corporation (a) | 309699 |
| 638 | Costco Wholesale Corporation | 344041 |
| 4161 | Floor & Decor Holdings, Inc. - Class A (a) | 310535 |
| 4246 | Fortune Brands Home & Security, Inc. | 277434 |
| 6320 | iRobot Corporation (a) | 329209 |
| 12095 | La-Z-Boy, Inc. | 329347 |
| 2013 | Middleby Corporation (a) | 290254 |
| 10077 | MillerKnoll, Inc. | 205470 |
| 2301 | PPG Industries, Inc. | 311141 |
| 1141 | RH (a) | 327273 |
| 1089 | Sherwin-Williams Company | 271357 |
| 6586 | Sleep Number Corporation (a) | 192641 |
| 11786 | Tempur Sealy International, Inc. | 374441 |
| 2250 | Walmart, Inc. | 342945 |
| 6132 | Wayfair, Inc. - Class A (a) | 224676 |
| 1665 | Whirlpool Corporation | 243972 |
| 2652 | Williams-Sonoma, Inc. | 310019 |
|  |  | 5253664 |
|  | **Home Improvement Retailers - 7.0%** |  |
| 3742 | Home Depot, Inc. | 1212371 |
| 5830 | Lowe's Companies, Inc. | 1239166 |
|  |  | 2451537 |
|  | **Homebuilders - 16.8%** |  |
| 8191 | DR Horton, Inc. | 704426 |
| 17137 | KB Home | 537931 |
| 7474 | Lennar Corporation - Class A | 656441 |
| 15473 | MDC Holdings, Inc. | 501789 |
| 6881 | Meritage Homes Corporation (a) | 594587 |
| 134 | NVR, Inc. (a) | 621627 |
| 13140 | PulteGroup, Inc. | 588409 |
| 20438 | Taylor Morrison Home Corporation (a) | 621111 |
| 12073 | Toll Brothers, Inc. | 578418 |
| 27514 | Tri Pointe Homes, Inc. (a) | 507358 |
|  |  | 5912097 |
|  | **Mortgage Lenders & Servicers - 10.4%** |  |
| 20047 | AGNC Investment Corporation | 200270 |
| 9262 | Annaly Capital Management, Inc. | 200708 |
| 14749 | Arbor Realty Trust, Inc. | 219465 |
| 6706 | Bank of America Corporation | 253822 |
| 3418 | Black Knight, Inc. (a) | 211882 |
| 25080 | Chimera Investment Corporation | 171798 |
| 6180 | Citizens Financial Group, Inc. | 261908 |
| 17813 | Huntington Bancshares, Inc. | 275745 |
| 1891 | JPMorgan Chase & Company | 261298 |
| 22294 | New Residential Investment Corporation | 201761 |
| 15037 | PennyMac Mortgage Investment Trust | 229615 |
| 1471 | PNC Financial Services Group, Inc. | 247510 |
| 27308 | Rocket Companies, Inc. - Class A | 226656 |
| 5108 | Truist Financial Corporation | 239106 |
| 11737 | Two Harbors Investment Corporation | 192487 |
| 5522 | Wells Fargo & Company | 264780 |
|  |  | 3658811 |
|  | **Property, Title & Mortgage Insurance - 5.6%** |  |
| 1856 | Allstate Corporation | 248518 |
| 5912 | Fidelity National Financial, Inc. | 238608 |
| 4048 | First American Financial Corporation | 221223 |
| 18200 | MGIC Investment Corporation | 249886 |
| 10424 | Old Republic International Corporation | 255388 |
| 2087 | Progressive Corporation | 275797 |
| 11678 | Radian Group, Inc. | 228539 |
| 1381 | Travelers Companies, Inc. | 262128 |
|  |  | 1980087 |
|  | **Real Estate Technology, Brokerage & Services - 3.6%** |  |
| 21492 | Anywhere Real Estate, Inc. (a) | 162265 |
| 4159 | CoStar Group, Inc. (a) | 337045 |
| 47982 | Matterport, Inc. (a) | 151143 |
| 10640 | RE/MAX Holdings, Inc. - Class A | 221312 |
| 25452 | Redfin Corporation (a) | 136423 |
| 6476 | Zillow Group, Inc. - Class C (a) | 245959 |
|  |  | 1254147 |
|  | **Residential REITs & Real Estate Operators - 26.1% (b)** |  |
| 14329 | American Homes 4 Rent - Class A | 473860 |
| 12247 | Apartment Income REIT Corporation | 465998 |
| 2626 | AvalonBay Communities, Inc. | 459287 |
| 3812 | Camden Property Trust | 458698 |
| 12578 | CubeSmart | 520604 |
| 7352 | Equity LifeStyle Properties, Inc. | 488320 |
| 7062 | Equity Residential | 458041 |
| 1903 | Essex Property Trust, Inc. | 419383 |
| 3070 | Extra Space Storage, Inc. | 493318 |
| 23327 | Independence Realty Trust, Inc. | 422685 |
| 14301 | Invitation Homes, Inc. | 466642 |
| 2988 | Mid-America Apartment Communities, Inc. | 492662 |
| 7448 | NexPoint Residential Trust, Inc. | 358174 |
| 1652 | Public Storage | 492230 |
| 3369 | Sun Communities, Inc. | 494906 |
| 44251 | Tricon Residential, Inc. | 379231 |
| 11253 | UDR, Inc. | 466662 |
| 27262 | UMH Properties, Inc. | 480084 |
| 9570 | Ventas, Inc. | 445292 |
| 6087 | Welltower, Inc. | 432361 |
|  |  | 9168438 |
|  | TOTAL COMMON STOCKS (Cost $41,620,830) | 35056498 |
|  | **SHORT-TERM INVESTMENTS - 0.2%** |  |
| 83498 | First American Government Obligations Fund, Class X, 3.67% (c) | 83498 |
|  | TOTAL SHORT-TERM INVESTMENTS (Cost $83,498) | 83498 |
|  | TOTAL INVESTMENTS - 99.9% (Cost $41,704,328) | 35139996 |
|  | Other Assets in Excess of Liabilities - 0.1% | 24083 |
|  | NET ASSETS - 100.0% | $35164079 |

---

---

| | |
|:---|:---|
|  | Percentages are stated as a percent of net assets. |
|  | The Fund's security classifications are defined by the Fund's Adviser. |
| REIT <br>| Real Estate Investment Trust. |
| (a) <br>| Non-income producing security. |
| (b) <br>| The Index, and consequently the Fund, is expected to concentrate its investments in the U.S. residential housing industry. The value of the Fund's shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries. |
| (c) <br>| Rate shown is the annualized seven-day yield as of November 30, 2022. |

---

------

 **Summary of Fair Value Disclosure at November 30, 2022 (Unaudited)**<br>The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United States of America ("U.S. GAAP") establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:<br>Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.<br> 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.<br> 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 would be based on the best information available.<br>The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security.<br>To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.<br>The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.<br>

The following is a summary of the inputs used to value the Fund's investments as of November 30, 2022:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Assets^</u> | <u>Level 1</u> | <u>Level 2</u> | <u>Level 3</u> | <u>Total</u> |
| Common Stocks | $35056498 | $- | $- | $35056498 |
| Short-Term Investments | 83498 | - | - | 83498 |
| Total Investments in Securities | $35139996 | $- | $- | $35139996 |
| ^ See Schedule of Investments for breakout of investments by sector classification. | ^ See Schedule of Investments for breakout of investments by sector classification. | ^ See Schedule of Investments for breakout of investments by sector classification. | ^ See Schedule of Investments for breakout of investments by sector classification. |  |
| For the period ended November 30, 2022, the Fund did not recognize any transfers to or from Level 3. | For the period ended November 30, 2022, the Fund did not recognize any transfers to or from Level 3. | For the period ended November 30, 2022, the Fund did not recognize any transfers to or from Level 3. | For the period ended November 30, 2022, the Fund did not recognize any transfers to or from Level 3. | For the period ended November 30, 2022, the Fund did not recognize any transfers to or from Level 3. |

---

## 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:** Hoya Capital Housing ETF

- **b. EDGAR series identifier (if any):** S000065066

- **c. LEI of Series:** 5493006GQFVD88T27V21

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $35172473.90

**Total Liabilities:** $8395.38

**Net Assets:** $35164078.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210709 | -10.31%              | 5.16%                | 5.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $139604.67               | $-3991126.09                               |
| Month 2  | $-71600.50               | $1707212.80                                |
| Month 3  | $-9736.45                | $1963761.10                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Middleby Corp/The              | Middleby Corp/The                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      2013 | NS      | $290254.47    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll Inc                | MillerKnoll Inc                            | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     10077 | NS      | $205470.03    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mohawk Industries Inc          | Mohawk Industries Inc                      | CUSIP: 608190104<br>LEI: 549300JI1115MG3Q6322 | Long             | EC               | CORP              | US        |      2036 | NS      | $206307.88    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                        | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       134 | NS      | $621627.34    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Rithm Capital Corp             | Rithm Capital Corp                         | CUSIP: 64828T201<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EC               | CORP              | US        |     22294 | NS      | $201760.70    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc | NexPoint Residential Trust Inc             | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |      7448 | NS      | $358174.32    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor | Old Republic International Corp            | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     10424 | NS      | $255388.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                  | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      2972 | NS      | $264032.48    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group Inc/The       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1471 | NS      | $247510.46    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc             | PPG Industries Inc                         | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      2301 | NS      | $311141.22    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T | PennyMac Mortgage Investment Trust         | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     15037 | NS      | $229614.99    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp            | PotlatchDeltic Corp                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |      5046 | NS      | $241148.34    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      2087 | NS      | $275797.05    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                             | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      1652 | NS      | $492229.92    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup Inc                             | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13140 | NS      | $588409.20    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                             | RH                                         | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      1141 | NS      | $327273.03    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Radian Group Inc               | Radian Group Inc                           | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               | CORP              | US        |     11678 | NS      | $228538.46    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| RE/MAX Holdings Inc            | RE/MAX Holdings Inc                        | CUSIP: 75524W108<br>LEI: 54930033W2KS56JHAN30 | Long             | EC               | CORP              | US        |     10640 | NS      | $221312.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Anywhere Real Estate Inc       | Anywhere Real Estate Inc                   | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     21492 | NS      | $162264.60    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Redfin Corp                    | Redfin Corp                                | CUSIP: 75737F108<br>LEI: 549300HXWD3JEMZU3O57 | Long             | EC               | CORP              | US        |     25452 | NS      | $136422.72    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos Inc                 | Rocket Cos Inc                             | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27308 | NS      | $226656.40    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                    | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      1089 | NS      | $271357.02    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc   | Simpson Manufacturing Co Inc               | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      2651 | NS      | $246675.55    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyline Champion Corp          | Skyline Champion Corp                      | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5968 | NS      | $310276.32    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Sleep Number Corp              | Sleep Number Corp                          | CUSIP: 83125X103<br>LEI: 529900W0TZQLBT2DSS66 | Long             | EC               | CORP              | US        |      6586 | NS      | $192640.50    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                 | A O Smith Corp                             | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      4612 | NS      | $280132.88    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc            | Sun Communities Inc                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      3369 | NS      | $494906.10    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc           | Tri Pointe Homes Inc                       | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27514 | NS      | $507358.16    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp      | Taylor Morrison Home Corp                  | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     20438 | NS      | $621110.82    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempur Sealy International Inc | Tempur Sealy International Inc             | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     11786 | NS      | $374441.22    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers Inc                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     12073 | NS      | $578417.43    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      1451 | NS      | $223570.08    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Cos Inc/The                      | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      1381 | NS      | $262127.61    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                    | Trex Co Inc                                | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4478 | NS      | $205495.42    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tricon Residential Inc         | Tricon Residential Inc                     | CUSIP: 89612W102<br>LEI: 984500EFFDE9C3A9G721 | Long             | EC               | CORP              | CA        |     44251 | NS      | $379231.07    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                      | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      5108 | NS      | $239105.48    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Two Harbors Investment Corp    | Two Harbors Investment Corp                | CUSIP: 90187B804<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EC               | CORP              | US        |     11737 | NS      | $192486.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                        | UDR Inc                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     11253 | NS      | $466661.91    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc             | UMH Properties Inc                         | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |     27262 | NS      | $480083.82    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                     | Ventas Inc                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      9570 | NS      | $445292.10    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      2250 | NS      | $342945.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                     | Watsco Inc                                 | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |      1104 | NS      | $296953.92    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                    | Wayfair Inc                                | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |      6132 | NS      | $224676.48    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      5522 | NS      | $264779.90    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |      6087 | NS      | $432359.61    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                | Weyerhaeuser Co                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      7162 | NS      | $234269.02    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                        | KB Home                                    | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |     17137 | NS      | $537930.43    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| La-Z-Boy Inc                   | La-Z-Boy Inc                               | CUSIP: 505336107<br>LEI: 549300WNO1WMN9ZG2519 | Long             | EC               | CORP              | US        |     12095 | NS      | $329346.85    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc            | Leggett & Platt Inc                        | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |      7374 | NS      | $262588.14    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                    | Lennar Corp                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      7474 | NS      | $656441.42    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc       | Lennox International Inc                   | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      1339 | NS      | $348715.77    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      4234 | NS      | $270129.20    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      5830 | NS      | $1239166.50   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MDC Holdings Inc               | MDC Holdings Inc                           | CUSIP: 552676108<br>LEI: 5299005FV4VNV75R8R35 | Long             | EC               | CORP              | US        |     15473 | NS      | $501789.39    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp           | MGIC Investment Corp                       | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     18200 | NS      | $249886.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                     | Masco Corp                                 | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      4930 | NS      | $250345.40    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Matterport Inc                 | Matterport Inc                             | CUSIP: 577096100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47982 | NS      | $151143.30    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp            | Meritage Homes Corp                        | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |      6881 | NS      | $594587.21    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communit | Mid-America Apartment Communities Inc      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      2988 | NS      | $492661.44    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential             | Equity Residential                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      7062 | NS      | $458041.32    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc       | Essex Property Trust Inc                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      1903 | NS      | $419383.14    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc        | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3070 | NS      | $493318.30    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In | Fidelity National Financial Inc            | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |      5912 | NS      | $238608.32    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     83498 | NS      | $83498.43     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp              | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      4048 | NS      | $221223.20    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc     | Floor & Decor Holdings Inc                 | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |      4161 | NS      | $310535.43    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Home & Security | Fortune Brands Home & Security Inc         | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |      4246 | NS      | $277433.64    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      3742 | NS      | $1212370.58   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH   | Huntington Bancshares Inc/OH               | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     17813 | NS      | $275745.24    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc  | Independence Realty Trust Inc              | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     23327 | NS      | $422685.24    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14301 | NS      | $466641.63    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| iRobot Corp                    | iRobot Corp                                | CUSIP: 462726100<br>LEI: 5493009PRNKOUKBAT390 | Long             | EC               | CORP              | US        |      6320 | NS      | $329208.80    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1891 | NS      | $261298.38    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC Investment Corp           | AGNC Investment Corp                       | CUSIP: 00123Q104<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EC               | CORP              | US        |     20047 | NS      | $200269.53    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The              | Allstate Corp/The                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      1856 | NS      | $248518.40    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      2685 | NS      | $259209.90    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent          | American Homes 4 Rent                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     14329 | NS      | $473860.03    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp         | American Woodmark Corp                     | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |      5714 | NS      | $309698.80    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |      9262 | NS      | $200707.54    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Income REIT Corp     | Apartment Income REIT Corp                 | CUSIP: 03750L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12247 | NS      | $465998.35    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust Inc         | Arbor Realty Trust Inc                     | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |     14749 | NS      | $219465.12    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries Inc             | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |      3337 | NS      | $254980.17    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc      | AvalonBay Communities Inc                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |      2626 | NS      | $459287.40    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      6706 | NS      | $253822.10    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Beacon Roofing Supply Inc      | Beacon Roofing Supply Inc                  | CUSIP: 073685109<br>LEI: 549300HDXQWWCBOYXP31 | Long             | EC               | CORP              | US        |      4590 | NS      | $268010.10    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Knight Inc               | Black Knight Inc                           | CUSIP: 09215C105<br>LEI: 549300TUSNXS3BFFML48 | Long             | EC               | CORP              | US        |      3418 | NS      | $211881.82    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc       | Builders FirstSource Inc                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      4556 | NS      | $291265.08    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust          | Camden Property Trust                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      3812 | NS      | $458697.96    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp                        | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      7090 | NS      | $314228.80    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc                       | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1372 | NS      | $315052.36    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Chimera Investment Corp        | Chimera Investment Corp                    | CUSIP: 16934Q208<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EC               | CORP              | US        |     25080 | NS      | $171798.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      6180 | NS      | $261908.40    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       638 | NS      | $344041.50    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                           | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4159 | NS      | $337045.36    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12578 | NS      | $520603.42    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      8191 | NS      | $704426.00    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc            | Eagle Materials Inc                        | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      2153 | NS      | $293540.02    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      7352 | NS      | $488319.84    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Whirlpool Corp                 | Whirlpool Corp                             | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |      1665 | NS      | $243972.45    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma Inc                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      2652 | NS      | $310018.80    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc               | Zillow Group Inc                           | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |      6476 | NS      | $245958.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer