# EDGAR Filing Document

**Accession Number:** 0001495922
**File Stem:** 0001752724-23-041476
**Filing Date:** 2023-2
**Character Count:** 31827
**Document Hash:** 9a7b79cf341b09dcee41d33309b452e2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-041476.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-041476

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EntrepreneurShares Series Trust
- **CENTRAL INDEX KEY:** 0001495922
- **IRS NUMBER:** 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:** 23671453

**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 US Large Cap™ (Series ID: S000045873)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000142959 | Institutional Class | IMPLX           |

## 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 US LARGE CAP FUND

- **b. EDGAR series identifier (if any):** S000045873

- **c. LEI of Series:** 549300JW0UCF4SQJ6231

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

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $25967020.79

**Total Liabilities:** $35154.99

**Net Assets:** $25931865.80

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000142959 | 3.48%                | 3.99%                | -7.88%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-28920.02               | $967036.83                                 |
| Month 2  | $-444221.67              | $1493066.37                                |
| Month 3  | $-363884.83              | $-1862979.01                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Zoom Video Communications Inc             | Zoom Video Communications, Inc.          | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      4298 | NS      | $291146.52    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                             | QUALCOMM, Inc.                           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      2837 | NS      | $311899.78    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                 | Block, Inc.                              | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      5401 | NS      | $339398.84    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco Nevada Corp                        | Franco-Nevada Corporation                | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1259 | NS      | $171828.32    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO FUNDS                             | Invesco Government & Agency Portfolio    | CUSIP: 825252885<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    218426 | PA      | $218425.75    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                              | Freshpet, Inc.                           | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      3141 | NS      | $165750.57    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                | Apple, Inc.                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      8436 | NS      | $1096089.48   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                 | Tesla, Inc.                              | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1050 | NS      | $129339.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corporation                        | Masimo Corporation                       | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      1871 | NS      | $276814.45    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.           | Regeneron Pharmaceuticals, Inc.          | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |       430 | NS      | $310240.70    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                             | Alphabet, Inc.                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     13557 | NS      | $1196134.11   | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| VMware Inc                                | VMware, Inc.                             | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               | CORP              | US        |      3381 | NS      | $415051.56    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc.           | SS&C Technologies Holdings, Inc.         | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      7245 | NS      | $377174.70    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubiquiti Inc                              | Ubiquiti, Inc.                           | CUSIP: 90353W103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       802 | NS      | $219371.06    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                          | Amazon.com, Inc.                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      5884 | NS      | $494256.00    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics, Inc.                      | Steel Dynamics, Inc.                     | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      2408 | NS      | $235261.60    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                    | Palo Alto Networks, Inc.                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      1623 | NS      | $226473.42    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                        | Oracle Corporation                       | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4873 | NS      | $398319.02    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                | Chipotle Mexican Grill, Inc.             | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       273 | NS      | $378784.77    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DISH Network Corporation                  | DISH Network Corporation                 | CUSIP: 25470M109<br>LEI: 529900U350CWHH15G169 | Long             | EC               | CORP              | US        |     22256 | NS      | $312474.24    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.             | Monolithic Power Systems, Inc.           | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1230 | NS      | $434940.30    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms, Inc.                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6521 | NS      | $784737.14    | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell Inc                              | Omnicell, Inc.                           | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |      3973 | NS      | $200318.66    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc             | Intercontinental Exchange, Inc.          | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      1509 | NS      | $154808.31    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                            | Salesforce, Inc.                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      4209 | NS      | $558071.31    | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Roku Inc                                  | Roku, Inc.                               | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      7302 | NS      | $297191.40    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                               | ResMed, Inc.                             | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      1916 | NS      | $398777.08    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                  | Jazz Pharmaceuticals plc                 | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |       912 | NS      | $145290.72    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Juniper Networks, Inc.                    | Juniper Networks, Inc.                   | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |      7961 | NS      | $254433.56    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc.                         | EPAM Systems, Inc.                       | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      1680 | NS      | $550603.20    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Amedisys Inc                              | Amedisys, Inc.                           | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |      1965 | NS      | $164156.10    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                    | TJX Companies, Inc. (The)                | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      4454 | NS      | $354538.40    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corporation                       | Chevron Corporation                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       468 | NS      | $84001.32     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                       | Danaher Corporation                      | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       728 | NS      | $193225.76    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc.                  | Extra Space Storage, Inc.                | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |       796 | NS      | $117155.28    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                  | Crowdstrike Holdings, Inc.               | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1820 | NS      | $191627.80    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corporation                | Exact Sciences Corporation               | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |      3701 | NS      | $183236.51    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                        | Cintas Corporation                       | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       963 | NS      | $434910.06    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Icahn Enterprises LP                      | Icahn Enterprises, L.P.                  | CUSIP: 451100101<br>LEI: 549300T0G4GS0SINS786 | Long             | EC               | CORP              | US        |       365 | NS      | $18488.41     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                                        | RH                                       | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |       916 | NS      | $244746.04    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                            | Five Below, Inc.                         | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      1632 | NS      | $288651.84    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                                  | Etsy, Inc.                               | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |      2741 | NS      | $328316.98    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                               | Datadog, Inc.                            | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |      2422 | NS      | $178017.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corporation                     | Starbucks Corporation                    | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      2748 | NS      | $272601.60    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                                | Twilio, Inc.                             | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |      7212 | NS      | $353099.52    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                          | Pure Storage, Inc.                       | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     11766 | NS      | $314858.16    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corporation           | United Therapeutics Corporation          | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       998 | NS      | $277533.82    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corporation                 | Valero Energy Corporation                | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |       591 | NS      | $74974.26     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorporation           | Western Alliance Bancorp                 | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      2382 | NS      | $141871.92    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Beyond Meat Inc                           | Beyond Meat, Inc.                        | CUSIP: 08862E109<br>LEI: 549300XQ946NCE51DR09 | Long             | EC               | CORP              | US        |      6084 | NS      | $74894.04     | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Advance Auto Parts Inc.                   | Advance Auto Parts, Inc.                 | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |       942 | NS      | $138502.26    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                              | Fortinet, Inc.                           | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      9241 | NS      | $451792.49    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                 | Adobe, Inc.                              | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       958 | NS      | $322395.74    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies, Inc.                 | Akamai Technologies, Inc.                | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      2221 | NS      | $187230.30    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Enstar Group Ltd                          | Enstar Group Ltd.                        | CUSIP: G3075P101<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EC               | CORP              | BM        |      1016 | NS      | $234736.64    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk Inc                        | Trade Desk, Inc. (The)                   | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |      4024 | NS      | $180395.92    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Playtika Holding Corp                     | Playtika Holding Corporation             | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |     15665 | NS      | $133309.15    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                | Copart, Inc.                             | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      3418 | NS      | $208122.02    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                            | Cloudflare, Inc.                         | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |      3123 | NS      | $141190.83    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                     | Microsoft Corporation                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      4222 | NS      | $1012520.04   | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| W.R. Berkley Corporation                  | W R Berkley Corporation                  | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      2983 | NS      | $216476.31    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                               | Cognex Corporation                       | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |      7166 | NS      | $337590.26    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Med Inc                            | Globus Medical, Inc.                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      4531 | NS      | $336517.37    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Incorporated              | Bentley Systems, Inc.                    | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |      2399 | NS      | $88667.04     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Acceptance Corporation of Michigan | Credit Acceptance Corporation            | CUSIP: 225310101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       291 | NS      | $138050.40    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Cadence Design Systems, Inc.              | Cadence Design Systems, Inc.             | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1464 | NS      | $235176.96    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagen Inc                                | Seagen, Inc.                             | CUSIP: 81181C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2380 | NS      | $305853.80    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Teladoc Health Inc                        | Teladoc Health, Inc.                     | CUSIP: 87918A105<br>LEI: 549300I2PVFBC9MFAC61 | Long             | EC               | CORP              | US        |      6912 | NS      | $163468.80    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                       | Paycom Software, Inc.                    | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      1239 | NS      | $384474.09    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                              | Synopsys, Inc.                           | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      2145 | NS      | $684877.05    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Beer Co Inc                        | Boston Beer Company, Inc. (The)          | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |       341 | NS      | $112366.32    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Fleetcor Technologies Inc                 | FleetCor Technologies, Inc.              | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |      2077 | NS      | $381503.36    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corporation                  | Kimco Realty Corporation                 | CUSIP: 49446R109<br>LEI: 549300EA7I6T15IBYS12 | Long             | EC               | CORP              | US        |     12367 | NS      | $261933.06    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                               | Workday, Inc.                            | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      1401 | NS      | $234429.33    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Walgreens Boots Alliance, Inc.            | Walgreens Boots Alliance, Inc.           | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               | CORP              | US        |      6453 | NS      | $241084.08    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                              | MongoDB, Inc.                            | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      1432 | NS      | $281874.88    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                        | Royalty Pharma plc                       | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |      4066 | NS      | $160688.32    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                       | Arista Networks, Inc.                    | CUSIP: 040413106<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      3469 | NS      | $420963.15    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                         | Veeva Systems, Inc.                      | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      1367 | NS      | $220606.46    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                            | Exelixis, Inc.                           | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |      7955 | NS      | $127598.20    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock, Inc.                           | BlackRock, Inc.                          | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |       268 | NS      | $189912.84    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Daily Money Fund                          | Fidelity Treasury Only Portfolio Class I | CUSIP: 233809300<br>LEI: Z2ZIGDKL3355UQRAKY22 | Long             | STIV             | RF                | US        |    434537 | PA      | $434536.82    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation               | Ares Management Corporation              | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      3500 | NS      | $239540.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc                        | Enphase Energy, Inc.                     | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      1218 | NS      | $322721.28    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                              | NVIDIA Corporation                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      6812 | NS      | $995505.68    | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

**Name of Applicant:** EntrepreneurShares Series Trust

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller