# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-010270
**Filing Date:** 2025-9
**Character Count:** 14452
**Document Hash:** 07f636e09ad0bb3e48cf8b919ba07710
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-010270.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000894189-25-010270

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**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:** 251356413

**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 Defined Risk ETF (Series ID: S000062593)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000203050 | Aptus Defined Risk ETF | DRSK            |

## 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 Defined Risk ETF

- **b. EDGAR series identifier (if any):** S000062593

- **c. LEI of Series:** 549300DFFKZ7IJTWTS57

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1324050112.96

**Total Liabilities:** $18940626.15

**Net Assets:** $1305109486.81

**Cash Not Reported:** $21110445.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000203050 | 2.06%                | 3.39%                | -0.47%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $99455.63                | $-917050.09                                |
| Month 2  | $715346.65               | $10875484.87                               |
| Month 3  | $51578.37                | $-3868553.82                               |

**Designated Index Information**

- **Index Name:** Bloomberg US Agg Total Return Value Unhedged USD

- **Index Identifier:** LBUSTRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                            | Thermo Fisher Scientific Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      8000 | NC      | $19640000.00  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Thermo Fisher Scientific Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4000 | NC      | $-3620000.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPXW US 09/30/25 P5000                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       700 | NC      | $633500.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPXW US 12/31/25 C6950                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2000 | NC      | $7880000.00   | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPXW US 12/31/25 C7300                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2000 | NC      | $-1450000.00  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | iShares iBoxx $ High Yield Corporate Bond ETF | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     25000 | NC      | $462500.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | iShares iBoxx $ High Yield Corporate Bond ETF | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     25000 | NC      | $662500.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Eli Lilly & Co                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      5000 | NC      | $4400000.00   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Eli Lilly & Co                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -5000 | NC      | $-1400000.00  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Merck & Co Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     20000 | NC      | $80000.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | ServiceNow Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3450 | NC      | $1776750.00   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | ServiceNow Inc                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3450 | NC      | $-301875.02   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NVIDIA Corp                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     15000 | NC      | $9150000.00   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NVIDIA Corp                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -7500 | NC      | $-1046250.00  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 09/19/25 P5800                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1000 | NC      | $-2735000.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 09/19/25 P6300                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1000 | NC      | $9810000.00   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 11/21/25 C7000                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      7000 | NC      | $9660000.00   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPX US 11/21/25 C7200                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -7000 | NC      | $-2800000.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPXW US 09/30/25 P4300                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -700 | NC      | $-280000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund      | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |  30404956 | NS      | $30404956.49  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Bulletshares 2031 Corp | Invesco Bulletshares 2031 Corporate Bond ETF  | CUSIP: 46138J429<br>LEI: 54930074YWSAGYW65L96 | Long             | EC               | RF                | US        |   9437398 | NS      | $155339571.08 | 11.90%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco BulletShares 2030 Corp | Invesco BulletShares 2030 Corporate Bond ETF  | CUSIP: 46138J460<br>LEI: 549300MD9XDNCUMOK111 | Long             | EC               | RF                | US        |   8162948 | NS      | $136443675.82 | 10.45%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco BulletShares 2029 Corp | Invesco BulletShares 2029 Corporate Bond ETF  | CUSIP: 46138J577<br>LEI: 549300QI81EWC6H7QY92 | Long             | EC               | RF                | US        |   3147945 | NS      | $58694064.11  | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco BulletShares 2033 Corp | Invesco BulletShares 2033 Corporate Bond ETF  | CUSIP: 46139W825<br>LEI: 254900PDI2GNZ8PCD259 | Long             | EC               | RF                | US        |   6222739 | NS      | $131486475.07 | 10.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco BulletShares 2032 Corp | Invesco BulletShares 2032 Corporate Bond ETF  | CUSIP: 46139W858<br>LEI: 5493007MAFSR8RWIXD15 | Long             | EC               | RF                | US        |   7755270 | NS      | $159525903.90 | 12.22%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBonds Dec 2027 Term C | iShares iBonds Dec 2027 Term Corporate ETF    | CUSIP: 46435UAA9<br>LEI: 549300OXS5FQU3APF128 | Long             | EC               | RF                | US        |   2664482 | NS      | $64507109.22  | 4.94%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBonds Dec 2029 Term C | iShares iBonds Dec 2029 Term Corporate ETF    | CUSIP: 46436E205<br>LEI: 549300O4632FCSLM7T54 | Long             | EC               | RF                | US        |   5194630 | NS      | $120879040.10 | 9.26%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBonds Dec 2032 Term C | iShares iBonds Dec 2032 Term Corporate ETF    | CUSIP: 46436E312<br>LEI: 549300ZCXA0SQGYFIX78 | Long             | EC               | RF                | US        |   4400930 | NS      | $111079473.20 | 8.51%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBonds Dec 2031 Term C | iShares iBonds Dec 2031 Term Corporate ETF    | CUSIP: 46436E486<br>LEI: 549300LR0SMCL4YVFM54 | Long             | EC               | RF                | US        |   6568294 | NS      | $137408710.48 | 10.53%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBonds Dec 2030 Term C | iShares iBonds Dec 2030 Term Corporate ETF    | CUSIP: 46436E726<br>LEI: 549300WVEN3NVMUAOJ58 | Long             | EC               | RF                | US        |   5367573 | NS      | $117496172.97 | 9.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Core Scientific Inc                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    100000 | NC      | $9750000.00   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Core Scientific Inc                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   -100000 | NC      | $-1900000.00  | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Alphabet Inc                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     10000 | NC      | $135000.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Alphabet Inc                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -10000 | NC      | $-50000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer