# EDGAR Filing Document

**Accession Number:** 0001495922
**File Stem:** 0000910472-25-004879
**Filing Date:** 2025-11
**Character Count:** 28042
**Document Hash:** 4b4bf91d352ba9d96fac24bfb54f20c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-004879.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-004879

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EntrepreneurShares Series Trust
- **CENTRAL INDEX KEY:** 0001495922

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22436
- **FILM NUMBER:** 251533247

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

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

## Series and Classes Contracts Data

### ERShares Global Entrepreneurs™ (Series ID: S000030086)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000092399 | Institutional Class | ENTIX           |

## Nport-Ex

ERShares

Global

Entrepreneuers

Schedule

of

Investments

September

30,

2025

(Unaudited)

Common

Stocks

—

94.15%

Shares

Fair

Value

Argentina

—

2.26%

Consumer

Discretionary

—

2.26%

MercadoLibre

,

Inc.

(a) 477

$

1,114,720

Total

Argentina

1,114,720

Australia

—

3.71%

Communications

—

1.33%

SEEK

Ltd.

34,715

654,796

Health

Care

—

0.66%

Telix

Pharmaceuticals

Ltd.

(a) 33,555

323,451

Technology

—

1.72%

Technology

One

Ltd.

33,491

852,176

Total

Australia

1,830,423

Canada

—

3.50%

Technology

—

3.50%

Constellation

Software,

Inc.

486,010

Shopify,

Inc.,

Class

A

(a) 6,883

1,022,882

Topicus.com,

Inc.

(a) 2,013

215,919

1,724,811

Total

Canada

1,724,811

Ireland

—

1.69%

Health

Care

—

1.69%

Alkermes

PLC

(a) 27,809

834,270

Total

Ireland

834,270

Israel

—

5.44%

Technology

—

5.44%

Check

Point

Software

Technologies

Ltd.

(a) 2,851

589,900

Monday.com

Ltd.

(a) 3,197

619,227

Wix.com

Ltd.

(a) 8,319

1,477,704

2,686,831

Total

Israel

2,686,831

Japan

—

2.40%

Communications

—

1.02%

GMO

internet,

Inc.

20,556

503,244

Consumer

Discretionary

—

1.38%

Sanrio

Company

Ltd.

14,436

678,619

Total

Japan

1,181,863

Luxembourg

—

3.10%

Communications

—

3.10%

Spotify

Technology

SA

(a) 2,191

1,529,318

Total

Luxembourg

1,529,318

ERShares

Global

Entrepreneuers

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

Common

Stocks

—

94.15%

(continued)

Shares

Fair

Value

Singapore

—

3.35%

Communications

—

2.24%

Sea

Ltd.

-

ADR

(a) 6,194

$

1,107,054

Consumer

Staples

—

0.55%

Wilmar

International

Ltd.

123,149

272,097

Technology

—

0.56%

Karooooo

Ltd.

4,865

277,888

Total

Singapore

1,657,039

Sweden

—

1.75%

Communications

—

1.04%

Asmodee

Group

A.B.

(a) 21,460

274,670

Embracer

Group

A.B.

(a) 21,460

237,516

512,186

Consumer

Discretionary

—

0.71%

Evolution

Gaming

Group

A.B.

144A

(b) 4,269

350,692

Total

Sweden

862,878

Thailand

—

1.08%

Technology

—

1.08%

Fabrinet

(a) 1,463

533,439

Total

Thailand

533,439

United

States

—

65.87%

Communications

—

13.17%

Alphabet,

Inc.,

Class

A

7,247

1,761,746

AppLovin

Corp.,

Class

A

(a) 4,468

3,210,438

Maplebear

Inc

(a) 12,384

455,236

Meta

Platforms,

Inc.,

Class

A

1,449

1,064,117

6,491,537

Consumer

Discretionary

—

2.86%

Airbnb,

Inc.,

Class

A

(a) 2,621

318,242

Amazon.com,

Inc.

(a) 2,635

578,567

DraftKings

,

Inc.,

Class

A

(a) 13,894

519,636

1,416,445

Energy

—

1.05%

Valero

Energy

Corp.

3,046

518,612

Financials

—

9.40%

Coinbase

Global,

Inc.,

Class

A

(a) 2,414

814,701

Interactive

Brokers

Group,

Inc.,

Class

A

14,841

1,021,209

Robinhood

Markets,

Inc.,

Class

A

(a) 12,212

1,748,514

Toast,

Inc.,

Class

A

(a) 28,877

1,054,298

4,638,722

Health

Care

—

4.60%

Medpace

Holdings,

Inc.

(a) 2,920

1,501,347

ResMed

,

Inc.

2,806

768,086

2,269,433

ERShares

Global

Entrepreneuers

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

Common

Stocks

—

94.15%

(continued)

Shares

Fair

Value

United

States

—

65.87%

(continued)

Industrials

—

4.64%

Clean

Harbors,

Inc.

(a) 2,847

$

661,130

Rocket

Lab

Corp.

(a) 33,985

1,628,221

2,289,351

Materials

—

2.61%

Newmont

Corp.

15,262

1,286,739

Technology

—

25.56%

Affirm

Holdings,

Inc.,

Class

A

(a) 8,083

590,706

Arista

Networks,

Inc.

(a) 8,009

1,166,991

Block,

Inc.

(a) 6,165

445,545

Corpay

,

Inc.

(a) 1,395

401,844

Crowdstrike

Holdings,

Inc.,

Class

A

(a) 860

421,727

MongoDB,

Inc.

(a) 3,856

1,196,826

Nvidia

Corp.

15,587

2,908,223

Oracle

Corp.

3,831

1,077,430

Palantir

Technologies,

Inc.,

Class

A

(a) 4,098

747,557

Palo

Alto

Networks,

Inc.

(a) 2,658

541,222

Pegasystems

,

Inc.

12,364

710,930

Salesforce,

Inc.

2,570

609,090

Super

Micro

Computer,

Inc.

(a) 12,502

599,346

Synopsys,

Inc.

(a) 1,188

586,147

Unity

Software,

Inc.

(a) 15,192

608,288

12,611,872

Utilities

—

1.98%

Vistra

Corp.

4,997

979,012

Total

United

States

32,501,723

Total

Common

Stocks

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$30,204,744)

46,457,315

Partnership

Shares

—

4.14%

United

States

—

4.14%

Astra

Holdings

SPV,

LP

(a)(b)(c)(d)(e)

5,405

1,0

,

FIKA

Holdings

SPV,

LP

(a)(b)(c)(d)(f)

27,103

1,043,323

Total

United

States

2,043,323

Total

Partnership

Shares

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$2,040,000)

2,043,323

ERShares

Global

Entrepreneuers

Schedule

of

Investments

(continued)

September

30,

2025

(Unaudited)

Money

Market

Funds

-

1.78%

Shares

Fair

Value

Fidelity

Investments

Money

Market

Treasury

Only

Portfolio,

Class

I,

4.00%

(g) 880,474

880,474

Total

Money

Market

Funds

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$880,474)

880,474

Total

Investments

—

100.07%

&nbsp;&nbsp;&nbsp;&nbsp;(Cost

$33,125,218)

$

49,381,112

Liabilities

in

Excess

of

Other

Assets

—

(0.07)%

(35,787)

Net

Assets

—

100.00%

$

49,345,325

(a) Non-income

producing

security.

(b) Illiquid

Security.

(c) Level

securities

fair

valued

using

significant

unobservable

inputs.

(d) Restricted

investment

as

to

resale.

(e) Delaware

limited

partnership

holding

investments

in

underlying

SPVs

holding

investments

in

Space

Exploration

Technology,

Corp.

(f) Delaware

limited

partnership

holding

investment

in

Klarna

PLC.

(g) Rate

disclosed

is

the

seven

day

effective

yield

as

of

September

30,

2025. ADR

-

American

Depositary

Receipt

SPV

-

Special

Purpose

Vehicle

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 2110

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

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

- **a. Name of Series:** ERSHARES GLOBAL FUND

- **b. EDGAR series identifier (if any):** S000030086

- **c. LEI of Series:** 549300DI3Z6CRMK2NK51

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

- **a. Date of fiscal year-end:** 2026-06-30

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $49425986.23

**Total Liabilities:** $80661.66

**Net Assets:** $49345324.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000092399 | 4.48%                | 1.21%                | 4.88%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-147711.01              | $2175825.62                                |
| Month 2  | $291184.44               | $288503.62                                 |
| Month 3  | $-1015834.65             | $2321067.76                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Wix.com Limited                        | Wix.com Ltd.                             | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      8319 | NS      | $1477703.97   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                    | Valero Energy Corporation                | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      3046 | NS      | $518611.96    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc          | Interactive Brokers Group, Inc.          | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     14841 | NS      | $1021209.21   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                    | Clean Harbors, Inc.                      | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      2847 | NS      | $661130.34    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                              | Toast, Inc.                              | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     28877 | NS      | $1054299.27   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Telix Pharmaceuticals Limited          | Telix Pharmaceuticals Ltd.               | CUSIP: Q8973A105<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     33555 | NS      | $323451.11    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                        | DraftKings, Inc.                         | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     13894 | NS      | $519635.60    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | SPV EXPOSURE TO SPACEX                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |      5405 | NS      | $1000000.00   | 2.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oracle Corp.                           | Oracle Corporation                       | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      3831 | NS      | $1077430.44   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Topicus Com Inc                        | Topicus.com, Inc.                        | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2013 | NS      | $215918.83    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                            | Shopify, Inc.                            | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      6883 | NS      | $1022882.63   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Karooooo Limited                       | Karooooo Ltd.                            | CUSIP: Y4600W108<br>LEI: N/A                  | Long             | EC               | CORP              | SG        |      4865 | NS      | $277888.80    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp.                       | Rocket Lab Corporation                   | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33985 | NS      | $1628221.35   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                               | Fabrinet                                 | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | TH        |      1463 | NS      | $533439.06    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                             | Corpay, Inc.                             | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      1395 | NS      | $401843.70    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.Com Limited                     | Monday.com Ltd.                          | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |      3197 | NS      | $619226.93    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                           | MongoDB, Inc.                            | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      3856 | NS      | $1196825.28   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc.                  | Medpace Holdings, Inc.                   | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      2920 | NS      | $1501347.20   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | SPV EXPOSURE TO KLARNA                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  |  | US        |     27103 | NS      | $1043322.80   | 2.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Asmodee Group AB                       | Asmodee Group A.B.                       | CUSIP: W1R75P108<br>LEI: 636700G5993BBAFDYD02 | Long             | EC               | CORP              | SE        |     21460 | NS      | $274670.57    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                       | Amazon.com, Inc.                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      2635 | NS      | $578566.95    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Seek Ltd.                              | SEEK Ltd.                                | CUSIP: Q8382E102<br>LEI: 549300209NEKXBC8QO27 | Long             | EC               | CORP              | AU        |     34715 | NS      | $654796.33    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Pegasystems Inc                        | Pegasystems, Inc.                        | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     12364 | NS      | $710930.00    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd.              | Wilmar International Ltd.                | CUSIP: Y9586L109<br>LEI: 549300H2EAI4YRLWBB20 | Long             | EC               | CORP              | SG        |    123149 | NS      | $272096.57    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                            | Vistra Corporation                       | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      4997 | NS      | $979012.24    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.              | Super Micro Computer, Inc.               | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     12502 | NS      | $599345.88    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                           | Synopsys, Inc.                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1188 | NS      | $586147.32    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanrio Co., Ltd                        | Sanrio Company Ltd.                      | CUSIP: J68209105<br>LEI: 3538002Q5JQLOMSPH125 | Long             | EC               | CORP              | JP        |     14436 | NS      | $678618.72    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                 | Palo Alto Networks, Inc.                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      2658 | NS      | $541221.96    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc              | Palantir Technologies, Inc.              | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      4098 | NS      | $747557.16    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Gmo Internet Group Inc.                | GMO internet group, Inc.                 | CUSIP: J1822R104<br>LEI: 529900BFZEY3BESHBW90 | Long             | EC               | CORP              | JP        |     20556 | NS      | $503244.29    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                    | Newmont Corporation                      | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     15262 | NS      | $1286739.22   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                  | Robinhood Markets, Inc.                  | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     12212 | NS      | $1748514.16   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnologyOne Ltd.                     | Technology One Ltd.                      | CUSIP: Q89275103<br>LEI: 875500YEWBJIM91P9N12 | Long             | EC               | CORP              | AU        |     33491 | NS      | $852175.89    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                              | Block, Inc.                              | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      6165 | NS      | $445544.55    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software Inc.            | Constellation Software, Inc.             | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |       179 | NS      | $486009.86    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                       | MercadoLibre, Inc.                       | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | AR        |       477 | NS      | $1114720.38   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd. | Check Point Software Technologies Ltd.   | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |      2851 | NS      | $589900.41    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings Inc                    | Affirm Holdings, Inc.                    | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8083 | NS      | $590705.64    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                            | ResMed, Inc.                             | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      2806 | NS      | $768086.38    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                          | Alphabet, Inc.                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      7247 | NS      | $1761745.70   | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Daily Money Fund                       | Fidelity Treasury Only Portfolio Class I | CUSIP: 233809300<br>LEI: Z2ZIGDKL3355UQRAKY22 | Long             | STIV             | RF                | US        |    880474 | PA      | $880473.79    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                           | Evolution A.B.                           | CUSIP: W3287P115<br>LEI: 549300SUH6ZR1RF6TA88 | Long             | EC               | CORP              | SE        |      4269 | NS      | $350691.86    | 0.71%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Meta Platforms Inc                     | Meta Platforms, Inc.                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1449 | NS      | $1064116.62   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Embracer Group AB                      | Embracer Group A.B.                      | CUSIP: W2504N184<br>LEI: 549300RFXXKT652HB549 | Long             | EC               | CORP              | SE        |     21460 | NS      | $237515.96    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                        | Salesforce, Inc.                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2570 | NS      | $609090.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology S.A.                | Spotify Technology S.A.                  | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      2191 | NS      | $1529318.00   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc               | Crowdstrike Holdings, Inc.               | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       860 | NS      | $421726.80    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Software Inc                     | Unity Software, Inc.                     | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |     15192 | NS      | $608287.68    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                             | Airbnb, Inc.                             | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      2621 | NS      | $318241.82    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                           | Alkermes plc                             | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     27809 | NS      | $834270.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                    | Arista Networks, Inc.                    | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      8009 | NS      | $1166991.39   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                           | NVIDIA Corporation                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     15587 | NS      | $2908222.46   | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                    | Coinbase Global, Inc.                    | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      2414 | NS      | $814700.86    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd.                               | Sea Ltd.                                 | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |      6194 | NS      | $1107053.62   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                         | Maplebear, Inc.                          | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12384 | NS      | $455235.84    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Applovin Corp.                         | AppLovin Corporation                     | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      4468 | NS      | $3210436.72   | 6.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** EntrepreneurShares Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller