# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-020541
**Filing Date:** 2025-12
**Character Count:** 20793
**Document Hash:** d126402d41a63509ab9d65302d2da903
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-020541.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000894189-25-020541

**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**: 20251031

**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:** 251615093

**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

### AAM Crescent CLO ETF (Series ID: S000095835)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000264617 | AAM Crescent CLO ETF | CLOC            |

## 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:** AAM Crescent CLO ETF

- **b. EDGAR series identifier (if any):** S000095835

- **c. LEI of Series:** 529900049VWGWJNCTQ69

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

- **a. Date of fiscal year-end:** 2025-10-31

- **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:** $51307070.19

**Total Liabilities:** $3451.00

**Net Assets:** $51303619.19

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 6086.955836000000 | **1-Year:** 13230.680795000000 | **5-Year:** 1340.813918000000 | **10-Year:** 488.996474000000 | **30-Year:** 18.514173000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000264617 |  |  | 0.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  |  |  |
| Month 3  | $-1056.68                | $-20786.48                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Balboa Bay Loan Funding Ltd    | Balboa Bay Loan Funding 2020-1 Ltd             | CUSIP: 05766BAU2<br>LEI: 549300MALKZHG9DP8554 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1501144.20   | 2.93%             | 2035-10-20      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Blueberry Park CLO             | Blueberry Park CLO Ltd                         | CUSIP: 09609QAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    800000 | PA      | $801430.88    | 1.56%             | 2037-10-20      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Invesco CLO Ltd                | Invesco US CLO 2024-1 Ltd                      | CUSIP: 46148JAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1125000 | PA      | $1131176.59   | 2.20%             | 2037-04-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Barings Private Credit CLO     | Barings Private Credit Corp CLO 2023-1 Ltd     | CUSIP: 067930AN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    315000 | PA      | $315949.28    | 0.62%             | 2036-10-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Blackrock CLO                  | Blackrock MT Lassen Clo XV LLC                 | CUSIP: 092916AA3<br>LEI: 529900270ZC9EIH17Z28 | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2005998.80   | 3.91%             | 2037-07-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Bridge Street CLO Ltd          | Bridge Street CLO V Ltd                        | CUSIP: 107921AJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003991.30   | 1.96%             | 2038-04-20      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| CTM CLO Ltd                    | CTM CLO 2025-1 Ltd                             | CUSIP: 12719PAA9<br>LEI: 254900KXN2P7HDYVVW84 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504956.15   | 2.93%             | 2038-07-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd         | Canyon Capital CLO 2022-1 Ltd                  | CUSIP: 13877JAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1500399.90   | 2.92%             | 2035-04-15      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO           | Diameter Capital CLO 10 Ltd                    | CUSIP: 25290BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1602903.84   | 3.12%             | 2038-04-20      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd              | Elevation CLO 2020-11 Ltd                      | CUSIP: 28621YAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    650000 | PA      | $652270.13    | 1.27%             | 2037-10-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO XII Ltd.           | Elmwood CLO XII Ltd                            | CUSIP: 29002YAS1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1400000 | PA      | $1407677.18   | 2.74%             | 2037-10-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund     | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1112233 | NS      | $1112232.85   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Palmer Square CLO Ltd          | Palmer Square CLO 2021-3 Ltd                   | CUSIP: 69688FAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504994.85   | 2.93%             | 2038-10-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd    | Texas Debt Capital CLO 2023-I Ltd              | CUSIP: 88238CAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007492.00   | 1.96%             | 2038-07-20      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO  | ABPCI Direct Lending Fund CLO XVII LLC         | CUSIP: 00112AAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002801.10   | 1.95%             | 2036-08-01      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.           | Birch Grove CLO 12 Ltd                         | CUSIP: 09090MAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1050000 | PA      | $1048855.61   | 2.04%             | 2038-04-22      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd              | Magnetite XVII Ltd                             | CUSIP: 55954EAY5<br>LEI: 5493003SVWF9GG13MZ22 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003404.30   | 1.96%             | 2037-04-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd | Golub Capital Partners CLO 59M Ltd             | CUSIP: 381936AC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1502993.70   | 2.93%             | 2037-04-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd       | Madison Park Funding LXIX Ltd                  | CUSIP: 55822VAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1010048.50   | 1.97%             | 2037-07-25      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO Ltd               | Owl Rock CLO VII LLC                           | CUSIP: 69121BAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $995000.00    | 1.94%             | 2038-04-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd        | Warwick Capital CLO 3 Ltd                      | CUSIP: 93655PAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1506000.00   | 2.94%             | 2037-04-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                 | Barings CLO Ltd 2024-II                        | CUSIP: 067936AA2<br>LEI: 549300KMDW0AZOKOC583 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250658.75    | 0.49%             | 2039-07-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd       | Madison Park Funding LXXIII Ltd                | CUSIP: 55823HAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1257521.63   | 2.45%             | 2038-10-17      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Monroe Capital MML CLO         | Monroe Capital Mml Clo XVI Ltd                 | CUSIP: 61034CAA3<br>LEI: 2138003NTU878X7J9T41 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002744.90   | 1.95%             | 2036-07-23      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Barings Private Credit CLO     | Barings Private Credit Corp CLO 2023-1 Ltd     | CUSIP: 067930AL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   1500000 | PA      | $1503293.85   | 2.93%             | 2036-10-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Cerberus                       | Cerberus Loan Funding 50 LLC                   | CUSIP: 15673UAE7<br>LEI: 635400VJODJ5OZQ2H763 | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1013229.90   | 1.97%             | 2037-07-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit F | Golub Capital Partners Private Credit Fund CLO | CUSIP: 38181XAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $502534.95    | 0.98%             | 2037-10-26      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Maranon Loan Funding Ltd       | Maranon Loan Funding 2022-1 LLC                | CUSIP: 56581XAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1250000 | PA      | $1250310.50   | 2.44%             | 2037-04-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                       | OZLM XXIV Ltd                                  | CUSIP: 67113DBC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $799596.64    | 1.56%             | 2032-07-20      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                   | TICP CLO VII Ltd                               | CUSIP: 87248TAW5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1252436.13   | 2.44%             | 2033-04-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit | Bain Capital Credit CLO 2024-4 Ltd             | CUSIP: 05685VAJ1<br>LEI: 254900X1J8WOE4EG9026 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004968.80   | 1.96%             | 2037-10-23      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Cerberus                       | Cerberus Loan Funding XLV LLC                  | CUSIP: 15675FAA6<br>LEI: 6354005BRQJC9NIG3407 | Long             | ABS-CBDO         | CORP              | US        |   1750000 | PA      | $1749953.28   | 3.41%             | 2036-04-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited    | Fortress Credit BSL XIX Ltd                    | CUSIP: 34966BAU0<br>LEI: 2549008HR79TDG6LYY87 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1002995.50   | 1.96%             | 2036-07-24      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Gallatin Funding Ltd           | Gallatin CLO XI 2024-1 Ltd                     | CUSIP: 36362HAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    725000 | PA      | $728066.03    | 1.42%             | 2037-10-20      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| AGL CLO 7 LTD                  | AGL CLO 7 Ltd                                  | CUSIP: 008511BC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001990.10   | 1.95%             | 2038-10-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Antares CLO                    | Antares CLO 2024-6 Ltd                         | CUSIP: 03664XAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1504817.85   | 2.93%             | 2037-01-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| BXDL Static CLO 2025-1 LLC     | BXDL Static CLO 2025-1 LLC                     | CUSIP: 05617FAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1499250.00   | 2.92%             | 2035-07-20      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd              | Cedar Funding XIX CLO Ltd                      | CUSIP: 15033CAJ1<br>LEI: 213800XI96J5YS3DBD91 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500157.85    | 0.97%             | 2038-01-23      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd       | Madison Park Funding XXXIII Ltd                | CUSIP: 55819JAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1499994.60   | 2.92%             | 2032-10-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd       | Neuberger Berman Loan Advisers CLO 47 Ltd      | CUSIP: 64135DAQ8<br>LEI: 549300JRWXK6DFJD7D06 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004489.80   | 1.96%             | 2035-04-16      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                 | Romark CLO V Ltd                               | CUSIP: 77588PAQ5<br>LEI: 549300NIP2J0NPQTYT18 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1252803.25   | 2.44%             | 2035-01-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd               | Symphony CLO XXII Ltd                          | CUSIP: 87167GCP3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1503831.90   | 2.93%             | 2033-04-18      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Antares CLO                    | Antares CLO 2024-6 Ltd                         | CUSIP: 03664XAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $757150.80    | 1.48%             | 2037-01-20      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                    | OCP CLO 2017-14 Ltd                            | CUSIP: 67097QAN5<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501266.70    | 0.98%             | 2037-07-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Sandstone Peak Ltd.            | Sandstone Peak Ltd                             | CUSIP: 800130AS5<br>LEI: 5493000VXRKO2Z5KET86 | Long             | ABS-CBDO         | CORP              | KY        |   1625000 | PA      | $1625770.25   | 3.17%             | 2034-10-15      | Floating      | 5.73%                 | No            |                  2 | 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