# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-005737
**Filing Date:** 2025-8
**Character Count:** 30301
**Document Hash:** fd8bb5af052344f2ff263d6d46e85f3f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-005737.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0000894189-25-005737

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20251231

**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:** 251245209

**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

### Defiance Quantum ETF (Series ID: S000062478)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000202668 | Defiance Quantum ETF | QTUM            |

## 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:** Defiance Quantum ETF

- **b. EDGAR series identifier (if any):** S000062478

- **c. LEI of Series:** 5493007JFTRI1DSFM452

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1744614966.92

**Total Liabilities:** $168094672.08

**Net Assets:** $1576520294.84

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000202668 | 0.87%                | 13.01%               | 8.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $994459.33               | $5119166.41                                |
| Month 2  | $-16225.54               | $133360918.97                              |
| Month 3  | $33255511.52             | $78090451.46                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Orange SA                                 | Orange SA                                  | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |   1339349 | NS      | $20304838.99  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| NTT Data Group Corp                       | NTT Data Group Corp                        | CUSIP: N/A<br>LEI: 353800SZGJGSLJRRWB43       | Long             | EC               | CORP              | JP        |    701155 | NS      | $19411671.19  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| NVE Corp                                  | NVE Corp                                   | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |    263548 | NS      | $19399768.28  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Nokia Oyj                                 | Nokia Oyj                                  | CUSIP: 654902204<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |   3662731 | NS      | $18972946.58  | 1.20%             |  |  |  | No            | 1                  | On Loan: —       |
| NEC Corp                                  | NEC Corp                                   | CUSIP: N/A<br>LEI: 5493000QYMPFRTEY4K28       | Long             | EC               | CORP              | JP        |    720605 | NS      | $21047682.47  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| NTT Inc                                   | NTT Inc                                    | CUSIP: N/A<br>LEI: 353800VHQU5VIXVUA841       | Long             | EC               | CORP              | JP        |  17905731 | NS      | $19090190.55  | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Northrop Grumman Corp                     | Northrop Grumman Corp                      | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |     39593 | NS      | $19795708.14  | 1.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Nutanix Inc                               | Nutanix Inc                                | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |    261084 | NS      | $19957260.96  | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| NVIDIA Corp                               | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    135397 | NS      | $21391372.03  | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| ON Semiconductor Corp                     | ON Semiconductor Corp                      | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    373481 | NS      | $19574139.21  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Onto Innovation Inc                       | Onto Innovation Inc                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |    193504 | NS      | $19530358.72  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Oracle Corp                               | Oracle Corp                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    109640 | NS      | $23970593.20  | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Palantir Technologies Inc                 | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    141792 | NS      | $19329085.44  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc                              | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    121259 | NS      | $19311708.34  | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Quantum Computing Inc                     | Quantum Computing Inc                      | CUSIP: 74766W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1019460 | NS      | $19543048.20  | 1.24%             |  |  |  | No            | 1                  | On Loan: —       |
| RadNet Inc                                | RadNet Inc                                 | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |    334180 | NS      | $19018183.80  | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Salesforce Inc                            | Salesforce Inc                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     72727 | NS      | $19831925.63  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Snowflake Inc                             | Snowflake Inc                              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |     92702 | NS      | $20743926.54  | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| STMicroelectronics NV                     | STMicroelectronics NV                      | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | CH        |    647005 | NS      | $19675422.05  | 1.25%             |  |  |  | No            | 1                  | On Loan: —       |
| Synopsys Inc                              | Synopsys Inc                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     38621 | NS      | $19800214.28  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        | 154400029 | NS      | $154400028.51 | 9.79%             |  |  |  | No            | N/A                | On Loan: No      |
| NXP Semiconductors NV                     | NXP Semiconductors NV                      | CUSIP: N/A<br>LEI: 724500M9BY5293JDF951       | Long             | EC               | CORP              | NL        |     88949 | NS      | $19434467.01  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Renesas Electronics Corp                  | Renesas Electronics Corp                   | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |   1415058 | NS      | $17525970.18  | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Tokyo Electron Ltd                        | Tokyo Electron Ltd                         | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |    112400 | NS      | $21539215.62  | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| RTX Corp                                  | RTX Corp                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    136372 | NS      | $19913039.44  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Rigetti Computing Inc                     | Rigetti Computing Inc                      | CUSIP: 76655K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1544666 | NS      | $18319738.76  | 1.16%             |  |  |  | No            | 1                  | On Loan: —       |
| TSMC                                      | Taiwan Semiconductor Manufacturing Co Ltd  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     90326 | NS      | $20457935.74  | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradata Corp                             | Teradata Corp                              | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |    871525 | NS      | $19443722.75  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Teradyne Inc                              | Teradyne Inc                               | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |    222821 | NS      | $20036064.32  | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Texas Instruments Inc                     | Texas Instruments Inc                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     96842 | NS      | $20106336.04  | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Wipro Ltd                                 | Wipro Ltd                                  | CUSIP: 97651M109<br>LEI: 335800IFS1IJHESG8362 | Long             | EC               | CORP              | IN        |   6446407 | NS      | $19468149.14  | 1.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Reply SpA                                 | Reply SpA                                  | CUSIP: N/A<br>LEI: 815600DAEFB0388F3521       | Long             | EC               | CORP              | IT        |    110876 | NS      | $19080199.08  | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Tower Semiconductor Ltd                   | Tower Semiconductor Ltd                    | CUSIP: N/A<br>LEI: 54930086ZSNXZOUX0C54       | Long             | EC               | CORP              | IL        |    468481 | NS      | $20308651.35  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Applied Materials Inc                     | Applied Materials Inc                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    111923 | NS      | $20489743.61  | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| ARM Holdings PLC                          | ARM Holdings PLC                           | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |    137761 | NS      | $22281464.14  | 1.41%             |  |  |  | No            | 1                  | On Loan: —       |
| Intel Corp                                | Intel Corp                                 | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    935162 | NS      | $20947628.80  | 1.33%             |  |  |  | No            | 1                  | On Loan: No      |
| IonQ Inc                                  | IonQ Inc                                   | CUSIP: 46222L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    487133 | NS      | $20932105.01  | 1.33%             |  |  |  | No            | 1                  | On Loan: —       |
| Juniper Networks Inc                      | Juniper Networks Inc                       | CUSIP: 48203R104<br>LEI: AUHIXNGG7U2U7JEHM527 | Long             | EC               | CORP              | US        |    538687 | NS      | $21509771.91  | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| KLA Corp                                  | KLA Corp                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     22174 | NS      | $19862138.76  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Lam Research Corp                         | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    212636 | NS      | $20697988.24  | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Lattice Semiconductor Corp                | Lattice Semiconductor Corp                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |    379126 | NS      | $18573382.74  | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Lockheed Martin Corp                      | Lockheed Martin Corp                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     42356 | NS      | $19616757.84  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| MKS Inc                                   | MKS Inc                                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |    206461 | NS      | $20513964.96  | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Marvell Technology Inc                    | Marvell Technology Inc                     | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    283391 | NS      | $21934463.40  | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     40912 | NS      | $20350037.92  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Microchip Technology Inc                  | Microchip Technology Inc                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    277855 | NS      | $19552656.35  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Micron Technology Inc                     | Micron Technology Inc                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    166671 | NS      | $20542200.75  | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Koninklijke KPN NV                        | Koninklijke KPN NV                         | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |   4097896 | NS      | $19895407.74  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| MediaTek Inc                              | MediaTek Inc                               | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    436284 | NS      | $18668868.96  | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsubishi Electric Corp                  | Mitsubishi Electric Corp                   | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               | CORP              | JP        |    957511 | NS      | $20622497.98  | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Arqit Quantum Inc                         | Arqit Quantum Inc                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |    712306 | NS      | $26376691.18  | 1.67%             |  |  |  | No            | 1                  | On Loan: —       |
| ASML Holding NV                           | ASML Holding NV                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |     24659 | NS      | $19761476.01  | 1.25%             |  |  |  | No            | 1                  | On Loan: —       |
| MongoDB Inc                               | MongoDB Inc                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     91822 | NS      | $19281701.78  | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Advanced Micro Devices Inc                | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    159643 | NS      | $22653341.70  | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Alibaba Group Holding Ltd                 | Alibaba Group Holding Ltd                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |    160716 | NS      | $18226801.56  | 1.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Alphabet Inc                              | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    109048 | NS      | $19217529.04  | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc                        | Analog Devices Inc                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     83160 | NS      | $19793743.20  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Airbus SE                                 | Airbus SE                                  | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |    102935 | NS      | $21418309.78  | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| ABB Ltd                                   | ABB Ltd                                    | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               | CORP              | CH        |    335162 | NS      | $19920243.99  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Alchip Technologies Ltd                   | Alchip Technologies Ltd                    | CUSIP: N/A<br>LEI: 529900HKE9RIY07SLX84       | Long             | EC               | CORP              | TW        |    197102 | NS      | $20882879.98  | 1.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Accenture PLC                             | Accenture PLC                              | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |     60584 | NS      | $18107951.76  | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                 | Baidu Inc                                  | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |    220893 | NS      | $18943783.68  | 1.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Booz Allen Hamilton Holding Co            | Booz Allen Hamilton Holding Corp           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |    192140 | NS      | $20007538.20  | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     76464 | NS      | $21077301.60  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Cadence Design Systems Inc                | Cadence Design Systems Inc                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     62955 | NS      | $19399583.25  | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Cirrus Logic Inc                          | Cirrus Logic Inc                           | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |    188360 | NS      | $19637471.80  | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Cloudflare Inc                            | Cloudflare Inc                             | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |    107608 | NS      | $21072874.64  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                             | Coherent Corp                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    237254 | NS      | $21165429.34  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| D-Wave Quantum Inc                        | D-Wave Quantum Inc                         | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Long             | EC               | CORP              | CA        |   1169947 | NS      | $17128024.08  | 1.09%             |  |  |  | No            | 1                  | On Loan: —       |
| First American Government Obli            | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   6752369 | NS      | $6752369.15   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Hewlett Packard Enterprise Co             | Hewlett Packard Enterprise Co              | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |   1061424 | NS      | $21706120.80  | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Honeywell International Inc               | Honeywell International Inc                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     85630 | NS      | $19941514.40  | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| IBM                                       | International Business Machines Corp       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     68690 | NS      | $20248438.20  | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Infineon Technologies AG                  | Infineon Technologies AG                   | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               | CORP              | DE        |    462506 | NS      | $19607235.81  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Asustek Computer Inc                      | Asustek Computer Inc                       | CUSIP: N/A<br>LEI: 254900B3WB4OGRB7HM13       | Long             | EC               | CORP              | TW        |    848316 | NS      | $18701749.42  | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Fujitsu Ltd                               | Fujitsu Ltd                                | CUSIP: N/A<br>LEI: 3538000246DHJLRTUZ24       | Long             | EC               | CORP              | JP        |    804830 | NS      | $19585153.17  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Hitachi Ltd                               | Hitachi Ltd                                | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |    678225 | NS      | $19744097.23  | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Hon Hai Precision Industry Co             | Hon Hai Precision Industry Co Ltd          | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |   3701000 | NS      | $20397815.97  | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Unichip Corp                       | Global Unichip Corp                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    489991 | NS      | $21889574.66  | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Elastic NV                                | Elastic NV                                 | CUSIP: N/A<br>LEI: 2549003I48WHHH937I59       | Long             | EC               | CORP              | US        |    232518 | NS      | $19608242.94  | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-21

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer