# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-020358
**Filing Date:** 2025-12
**Character Count:** 51926
**Document Hash:** 96ac01c5495be45e2895b44e71d609d0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-020358.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000894189-25-020358

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20260430

**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:** 251612751

**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

### Aptus Collared Investment Opportunity ETF (Series ID: S000065985)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000213139 | Aptus Collared Investment Opportunity ETF | ACIO            |

## 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:** Aptus Collared Investment Opportunity ETF

- **b. EDGAR series identifier (if any):** S000065985

- **c. LEI of Series:** 549300IQORRO47RTKY62

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-10-31

**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:** $2243335200.09

**Total Liabilities:** $29152869.47

**Net Assets:** $2214182330.62

**Cash Not Reported:** $3759931.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000213139 | 1.61%                | 2.57%                | 1.29%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $210550.84               | $34521921.69                               |
| Month 2  | $6963496.30              | $67767268.33                               |
| Month 3  | $2018013.88              | $37067617.82                               |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SLB Ltd                        | SLB Ltd                                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    116908 | NS      | $4215702.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                  | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     22677 | NS      | $7822204.38   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials In | Solstice Advanced Materials Inc          | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     17386 | NS      | $783609.56    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                | Southern Co/The                          | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    263676 | NS      | $24796091.04  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                             | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     95218 | NS      | $33920460.32  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Cos Inc/The                          | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |    147300 | NS      | $20642622.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     72971 | NS      | $15327558.55  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    107358 | NS      | $49015368.48  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                    | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     38257 | NS      | $6176975.22   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc             | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     39876 | NS      | $22625243.64  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc         | Tyler Technologies Inc                   | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     20161 | NS      | $9601877.86   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                    | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     86863 | NS      | $8382279.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     36651 | NS      | $12518515.56  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc     | Vertex Pharmaceuticals Inc               | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      9079 | NS      | $3863750.03   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    119059 | NS      | $40568163.66  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    251360 | NS      | $25432604.80  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                            | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     39461 | NS      | $7144019.44   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC         | Trane Technologies PLC                   | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |      9864 | NS      | $4425483.60   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Procter & Gamble Co/The                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -260 | NC      | $-4810.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | PulteGroup Inc                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -250 | NC      | $-18125.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Morgan Stanley                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -400 | NC      | $-95800.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Morgan Stanley                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -400 | NC      | $-74800.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Motorola Solutions Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-7250.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NextEra Energy Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-7400.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Newmont Corp                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1300 | NC      | $-2830750.00  | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oracle Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-14700.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oracle Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -400 | NC      | $-10400.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       200 | NC      | $100.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-100.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -160 | NC      | $-128000.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                       | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     81142 | NS      | $18997776.46  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    567470 | NS      | $153426863.90 | 6.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                   | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     70652 | NS      | $33739156.08  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                  | Blackrock Inc                            | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |     24294 | NS      | $26305786.14  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp         | Boston Scientific Corp                   | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     57700 | NS      | $5811544.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions | Broadridge Financial Solutions Inc       | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     37152 | NS      | $8188300.80   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    182498 | NS      | $67456735.74  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                          | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     61429 | NS      | $35460504.54  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Digital Realty Trust Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-15500.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Duke Energy Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -260 | NC      | $-16250.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Eaton Corp PLC                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -80 | NC      | $-34400.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Diamondback Energy Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-56000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | General Electric Co                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -250 | NC      | $-1020625.00  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | General Electric Co                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -250 | NC      | $-769375.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Honeywell International Inc              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -250 | NC      | $-46250.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | International Business Machines Corp     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-56875.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | International Business Machines Corp     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-30000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Intuitive Surgical Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-64500.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Intuitive Surgical Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-74250.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Intuitive Surgical Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-67875.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Johnson & Johnson                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -600 | NC      | $-762000.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JPMorgan Chase & Co                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -800 | NC      | $-884000.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Lam Research Corp                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-928750.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Lam Research Corp                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-406250.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | McDonald's Corp                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-45400.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Microsoft Corp                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-1466250.00  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Exxon Mobil Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2000 | NC      | $-105000.00   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CSX Corp                       | CSX Corp                                 | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    476547 | NS      | $17165222.94  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                              | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88872 | NS      | $16287571.44  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                            | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    181354 | NS      | $18358465.42  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                             | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    141356 | NS      | $3934644.26   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                    | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     17344 | NS      | $15808188.80  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                 | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |     38785 | NS      | $21060642.85  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                     | Deere & Co                               | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     28741 | NS      | $13267707.83  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp              | Devon Energy Corp                        | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    325161 | NS      | $10564480.89  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc         | Diamondback Energy Inc                   | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     77814 | NS      | $11142186.66  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                 | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     76992 | NS      | $13120206.72  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Crowdstrike Holdings Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-107000.00   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                      | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    110165 | NS      | $13618597.30  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                               | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     77066 | NS      | $16803470.64  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     64888 | NS      | $16619114.56  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                             | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    399766 | NS      | $112662054.12 | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                         | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    221823 | NS      | $12506380.74  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    370676 | NS      | $90526492.72  | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                              | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     30266 | NS      | $33863416.76  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp                             | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    135178 | NS      | $10945362.66  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                       | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    111588 | NS      | $9083263.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp          | Northrop Grumman Corp                    | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     40341 | NS      | $23536956.45  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                              | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    933063 | NS      | $188935926.87 | 8.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                              | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     65846 | NS      | $17291818.06  | 0.78%             |  |  |  | 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        |    106838 | NS      | $19503276.90  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     81964 | NS      | $16431323.08  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    145734 | NS      | $21290280.06  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The                  | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    116209 | NS      | $17474347.33  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                     | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    131230 | NS      | $27033380.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                           | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     28776 | NS      | $8015842.56   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup Inc                           | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    107375 | NS      | $12871041.25  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | RTX Corp                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-72250.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | RTX Corp                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-33750.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Southern Co/The                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-20000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 12/19/25 P5900                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3000 | NC      | $-4890000.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 12/19/25 P6500                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3000 | NC      | $17595000.00  | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TJX Cos Inc/The                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -400 | NC      | $-19600.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TJX Cos Inc/The                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -300 | NC      | $-36450.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | T-Mobile US Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       140 | NC      | $5250.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Uber Technologies Inc                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -150 | NC      | $-19200.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Walmart Inc                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-29000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elevance Health Inc            | Elevance Health Inc                      | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |     24283 | NS      | $7702567.60   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp               | Duke Energy Corp                         | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    136916 | NS      | $17018658.80  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                         | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    318289 | NS      | $36399530.04  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                           | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     30540 | NS      | $26351744.40  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Apple Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1500 | NC      | $-445500.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Apple Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1000 | NC      | $-291000.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AbbVie Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -100 | NC      | $-5700.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Analog Devices Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -240 | NC      | $-53400.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Advanced Micro Devices Inc               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -300 | NC      | $-968250.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Advanced Micro Devices Inc               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -150 | NC      | $-210750.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Amgen Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        75 | NC      | $5850.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Amphenol Corp                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -125 | NC      | $-40625.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Amphenol Corp                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -125 | NC      | $-21250.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Broadcom Inc                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -250 | NC      | $-241250.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Broadcom Inc                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -360 | NC      | $-189000.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | American Express Co                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -90 | NC      | $-171225.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | American Express Co                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -40 | NC      | $-39200.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Citigroup Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -300 | NC      | $-11100.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Citigroup Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -300 | NC      | $-40800.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Citigroup Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -300 | NC      | $-42750.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Caterpillar Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -600 | NC      | $-8095500.00  | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Crowdstrike Holdings Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-975.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Crowdstrike Holdings Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-127000.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                           | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |     40185 | NS      | $15332988.60  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Alphabet Inc                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -400 | NC      | $-454000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Alphabet Inc                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -600 | NC      | $-99300.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| American Express Co            | American Express Co                      | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     27130 | NS      | $9786604.90   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                      | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     66495 | NS      | $11901275.10  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen Inc                                | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     24678 | NS      | $7364655.54   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp                            | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     51175 | NS      | $7130724.50   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |   9041412 | NS      | $9041411.52   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv Inc                               | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     70227 | NS      | $4683438.63   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co            | General Electric Co                      | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     52863 | NS      | $16332023.85  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                      | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     49803 | NS      | $5965901.37   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                             | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     44433 | NS      | $8037929.70   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                       | RTX Corp                                 | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     53781 | NS      | $9599908.50   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                           | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     37972 | NS      | $9888288.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                           | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     31712 | NS      | $29152207.36  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     82852 | NS      | $53717094.20  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     69548 | NS      | $14002098.84  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc            | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     91160 | NS      | $13335796.40  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                            | International Business Machines Corp     | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     37328 | NS      | $11475000.48  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                               | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     31190 | NS      | $20820884.50  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                   | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     38991 | NS      | $20832111.48  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                      | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    129854 | NS      | $40400176.48  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                        | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     64747 | NS      | $12228765.89  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                        | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    239505 | NS      | $37712457.30  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                           | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     91913 | NS      | $21887242.69  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                 | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     81091 | NS      | $14446361.65  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International Inc/MD            | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     79632 | NS      | $20750506.56  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                | McDonald's Corp                          | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     68621 | NS      | $20478565.03  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                           | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    151774 | NS      | $13049528.52  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                           | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    284193 | NS      | $147157977.33 | 6.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International Inc     | Mondelez International Inc               | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    168129 | NS      | $9660692.34   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                           | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    175617 | NS      | $28801188.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions Inc                   | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     29717 | NS      | $12086201.07  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |     42932 | NS      | $17958455.60  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer