# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-25-012881
**Filing Date:** 2025-10
**Character Count:** 36750
**Document Hash:** 8b1d5e8d806e931db5b513e37669f211
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-012881.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0000894189-25-012881

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20250831

**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:** 251432944

**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

### Acquirers Small and Micro Deep Value ETF (Series ID: S000046243)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000144551 | Acquirers Small and Micro Deep Value ETF | DEEP            |

## 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:** Acquirers Small and Micro Deep Value ETF

- **b. EDGAR series identifier (if any):** S000046243

- **c. LEI of Series:** 549300F4XPMKEHF8KP37

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $28994101.69

**Total Liabilities:** $18819.45

**Net Assets:** $28975282.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144551 | 4.47%                | 0.54%                | 9.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-249816.40              | $1331832.45                                |
| Month 2  | $0.00                    | $90614.48                                  |
| Month 3  | $1617.35                 | $2503835.99                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMN Healthcare Services Inc    | AMN Healthcare Services Inc                  | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     11810 | NS      | $245411.80    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies Inc          | SIGA Technologies Inc                        | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41837 | NS      | $351012.43    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sturm Ruger & Co Inc           | Sturm Ruger & Co Inc                         | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |      6955 | NS      | $241129.85    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| XPEL Inc                       | XPEL Inc                                     | CUSIP: 98379L100<br>LEI: 549300KWSE3IGXLJNW66 | Long             | EC               | CORP              | US        |      7168 | NS      | $266362.88    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Nathan's Famous Inc            | Nathan's Famous Inc                          | CUSIP: 632347100<br>LEI: 54930034SKNSF1JIE673 | Long             | EC               | CORP              | US        |      2354 | NS      | $246463.80    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Flex Inc                 | Omega Flex Inc                               | CUSIP: 682095104<br>LEI: 254900V3UM4PIXLDNU54 | Long             | EC               | CORP              | US        |      7966 | NS      | $281199.80    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                               | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     14148 | NS      | $320735.16    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AMC Networks Inc               | AMC Networks Inc                             | CUSIP: 00164V103<br>LEI: 549300VGG9K75226LR46 | Long             | EC               | CORP              | US        |     42007 | NS      | $296569.42    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions  | Donnelley Financial Solutions Inc            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |      4325 | NS      | $245530.25    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Technologies Inc        | Hudson Technologies Inc                      | CUSIP: 444144109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33111 | NS      | $336407.76    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JAKKS Pacific Inc              | JAKKS Pacific Inc                            | CUSIP: 47012E403<br>LEI: 549300UEF3348JRXQ295 | Long             | EC               | CORP              | US        |     12684 | NS      | $225394.68    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd              | Steven Madden Ltd                            | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     11200 | NS      | $325248.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| National Research Corp         | National Research Corp                       | CUSIP: 637372202<br>LEI: 549300FQIORB6GZCYT15 | Long             | EC               | CORP              | US        |     15448 | NS      | $226931.12    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Playtika Holding Corp          | Playtika Holding Corp                        | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |     57696 | NS      | $214052.16    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Cos Inc                 | Rocket Cos Inc                               | CUSIP: 77311W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17864 | NS      | $317443.28    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Utah Medical Products Inc      | Utah Medical Products Inc                    | CUSIP: 917488108<br>LEI: 5493002R27BBGV8DID60 | Long             | EC               | CORP              | US        |      4848 | NS      | $301594.08    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferroglobe PLC                 | Ferroglobe PLC                               | CUSIP: N/A<br>LEI: 2138005GCFJACFTZUD90       | Long             | EC               | CORP              | GB        |     68728 | NS      | $287283.04    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Geopark Ltd                    | Geopark Ltd                                  | CUSIP: N/A<br>LEI: 529900ZR5QI19AH4KZ07       | Long             | EC               | CORP              | CO        |     35398 | NS      | $233626.80    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| IHS Holding Ltd                | IHS Holding Ltd                              | CUSIP: N/A<br>LEI: 213800CLGMKL63VKTD94       | Long             | EC               | CORP              | GB        |     45238 | NS      | $327975.50    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Ship Lease Inc          | Global Ship Lease Inc                        | CUSIP: N/A<br>LEI: 254900GLZ0J5N8UZM071       | Long             | EC               | CORP              | GB        |      9905 | NS      | $297645.25    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Bulk Carriers Corp        | Star Bulk Carriers Corp                      | CUSIP: N/A<br>LEI: 549300SO3FMK7H6DDY54       | Long             | EC               | CORP              | GR        |     15625 | NS      | $291406.25    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc          | BlueLinx Holdings Inc                        | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |      3692 | NS      | $304996.12    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI Card Group Inc             | CPI Card Group Inc                           | CUSIP: 12634H200<br>LEI: 54930087HHJ1VWIJK062 | Long             | EC               | CORP              | US        |     11238 | NS      | $175088.04    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions Inc  | Consensus Cloud Solutions Inc                | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11706 | NS      | $311028.42    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Hill Investment Group  | Diamond Hill Investment Group Inc            | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |      1876 | NS      | $273445.76    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Gran Tierra Energy Inc         | Gran Tierra Energy Inc                       | CUSIP: 38500T200<br>LEI: 549300IH2S17MAIUCM32 | Long             | EC               | CORP              | CA        |     44789 | NS      | $184082.79    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp                       | IDT Corp                                     | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |      3990 | NS      | $255639.30    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingles Markets Inc             | Ingles Markets Inc                           | CUSIP: 457030104<br>LEI: 549300XH5RYBMYP8TF26 | Long             | EC               | CORP              | US        |      4165 | NS      | $281928.85    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                       | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      7388 | NS      | $283551.44    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Investors Title Co             | Investors Title Co                           | CUSIP: 461804106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1271 | NS      | $315538.46    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals Inc   | Ironwood Pharmaceuticals Inc                 | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |    364302 | NS      | $480878.64    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                     | Kforce Inc                                   | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |      6498 | NS      | $211834.80    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindsay Corp                   | Lindsay Corp                                 | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |      1911 | NS      | $262246.53    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesabi Trust                   | Mesabi Trust                                 | CUSIP: 590672101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11018 | NS      | $340346.02    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp            | Peabody Energy Corp                          | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     19041 | NS      | $331313.40    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| REX American Resources Corp    | REX American Resources Corp                  | CUSIP: 761624105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5270 | NS      | $329743.90    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Dlocal Ltd/Uruguay             | Dlocal Ltd/Uruguay                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | UY        |     25827 | NS      | $373458.42    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Gambling.com Group Ltd         | Gambling.com Group Ltd                       | CUSIP: N/A<br>LEI: 254900PUNXQ3N26IMU63       | Long             | EC               | CORP              | JE        |     22230 | NS      | $194067.90    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insuranc | International General Insurance Holdings Ltd | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JO        |     11730 | NS      | $283162.20    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ituran Location and Control Lt | Ituran Location and Control Ltd              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      7330 | NS      | $247167.60    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaos Corp                    | Danaos Corp                                  | CUSIP: N/A<br>LEI: 734IM3DNDNT36T7YTD24       | Long             | EC               | CORP              | GR        |      2957 | NS      | $271955.29    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Genco Shipping & Trading Ltd   | Genco Shipping & Trading Ltd                 | CUSIP: N/A<br>LEI: 5493003MBZ5GU8QHXZ58       | Long             | EC               | CORP              | US        |     19368 | NS      | $326157.12    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Berry Corp                     | Berry Corp                                   | CUSIP: 08579X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77941 | NS      | $260322.94    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Carter's Inc                   | Carter's Inc                                 | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      8457 | NS      | $241531.92    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc      | Ethan Allen Interiors Inc                    | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9475 | NS      | $279607.25    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Industrial Co           | Global Industrial Co                         | CUSIP: 37892E102<br>LEI: 5493000GO8Z3HEWCGE46 | Long             | EC               | CORP              | US        |      9786 | NS      | $365311.38    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sylvamo Corp                   | Sylvamo Corp                                 | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |      5148 | NS      | $237477.24    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                  | Teradata Corp                                | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     12019 | NS      | $252158.62    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Ltd                  | Herbalife Ltd                                | CUSIP: N/A<br>LEI: 549300BA7TYPBSZZIA41       | Long             | EC               | CORP              | US        |     31910 | NS      | $312079.80    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Perion Network Ltd             | Perion Network Ltd                           | CUSIP: N/A<br>LEI: 529900SL7HYNVD6HG708       | Long             | EC               | CORP              | IL        |     27338 | NS      | $252329.74    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc       | Axcelis Technologies Inc                     | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |      3910 | NS      | $312956.40    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare Inc   | Cross Country Healthcare Inc                 | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     18274 | NS      | $244506.12    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Metallurgical Resources  | Alpha Metallurgical Resources Inc            | CUSIP: 020764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2394 | NS      | $357160.86    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadian Asset Management Inc   | Acadian Asset Management Inc                 | CUSIP: 10948W103<br>LEI: 5493004FTLQNQTBOP608 | Long             | EC               | CORP              | US        |      8168 | NS      | $416322.96    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| G-III Apparel Group Ltd        | G-III Apparel Group Ltd                      | CUSIP: 36237H101<br>LEI: 529900O5KABM3R3SFM87 | Long             | EC               | CORP              | US        |     11629 | NS      | $313983.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                       | NVE Corp                                     | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |      3755 | NS      | $242497.90    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nu Skin Enterprises Inc        | Nu Skin Enterprises Inc                      | CUSIP: 67018T105<br>LEI: 54930050DETB6CP71D38 | Long             | EC               | CORP              | US        |     33803 | NS      | $411382.51    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| World Acceptance Corp          | World Acceptance Corp                        | CUSIP: 981419104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1635 | NS      | $280288.05    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| TORM PLC                       | TORM PLC                                     | CUSIP: N/A<br>LEI: 213800VL1H1ABVM1ZF63       | Long             | EC               | CORP              | GB        |     13611 | NS      | $296039.25    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cricut Inc                     | Cricut Inc                                   | CUSIP: 22658D100<br>LEI: 254900R3DKAJ28MC0Q39 | Long             | EC               | CORP              | US        |     39506 | NS      | $225184.20    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The          | Hackett Group Inc/The                        | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |     11081 | NS      | $230706.42    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus International Group Inc  | Janus International Group Inc                | CUSIP: 47103N106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32651 | NS      | $337937.85    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc            | MGP Ingredients Inc                          | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |      8765 | NS      | $259181.05    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| USANA Health Sciences Inc      | USANA Health Sciences Inc                    | CUSIP: 90328M107<br>LEI: 549300YTURXE814MAH96 | Long             | EC               | CORP              | US        |      8434 | NS      | $269128.94    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Winnebago Industries Inc       | Winnebago Industries Inc                     | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |      8309 | NS      | $298957.82    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                     | Inmode Ltd                                   | CUSIP: N/A<br>LEI: 984500DD95A35E9BD358       | Long             | EC               | CORP              | IL        |     19383 | NS      | $289582.02    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc  | Amphastar Pharmaceuticals Inc                | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     10486 | NS      | $321081.32    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplify Energy Corp            | Amplify Energy Corp                          | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Long             | EC               | CORP              | US        |     69654 | NS      | $283491.78    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Build-A-Bear Workshop Inc      | Build-A-Bear Workshop Inc                    | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |      4926 | NS      | $299550.06    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc        | Century Communities Inc                      | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      4880 | NS      | $321494.40    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund     | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |    232261 | NS      | $232260.66    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Regional Management Corp       | Regional Management Corp                     | CUSIP: 75902K106<br>LEI: 549300S5O87W87JW4146 | Long             | EC               | CORP              | US        |      9143 | NS      | $400829.12    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc      | International Seaways Inc                    | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |      6470 | NS      | $293867.40    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hovnanian Enterprises Inc      | Hovnanian Enterprises Inc                    | CUSIP: 442487401<br>LEI: 549300805N4EF0ROBT53 | Long             | EC               | CORP              | US        |      2727 | NS      | $382761.72    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                   | Innoviva Inc                                 | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |     12286 | NS      | $251002.98    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Karat Packaging Inc            | Karat Packaging Inc                          | CUSIP: 48563L101<br>LEI: 549300JYUKCQP3P8D632 | Long             | EC               | CORP              | US        |      9662 | NS      | $244255.36    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp            | Legacy Housing Corp                          | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11708 | NS      | $327180.06    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc               | Malibu Boats Inc                             | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8217 | NS      | $272804.40    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCraft Boat Holdings Inc  | MasterCraft Boat Holdings Inc                | CUSIP: 57637H103<br>LEI: 549300IXWX41555YJ117 | Long             | EC               | CORP              | US        |     14448 | NS      | $316989.12    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Movado Group Inc               | Movado Group Inc                             | CUSIP: 624580106<br>LEI: 549300WCGCGPWGHVXM59 | Long             | EC               | CORP              | US        |     17034 | NS      | $311211.18    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Olaplex Holdings Inc           | Olaplex Holdings Inc                         | CUSIP: 679369108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171936 | NS      | $245868.48    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympic Steel Inc              | Olympic Steel Inc                            | CUSIP: 68162K106<br>LEI: 549300GQ061U6N6KWJ49 | Long             | EC               | CORP              | US        |      8668 | NS      | $292198.28    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| John B Sanfilippo & Son Inc    | John B Sanfilippo & Son Inc                  | CUSIP: 800422107<br>LEI: 5299007IBEYVXKYDUX28 | Long             | EC               | CORP              | US        |      4097 | NS      | $265895.30    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| AudioCodes Ltd                 | AudioCodes Ltd                               | CUSIP: N/A<br>LEI: 529900TA48138NEVR854       | Long             | EC               | CORP              | IL        |     27824 | NS      | $268223.36    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardmore Shipping Corp          | Ardmore Shipping Corp                        | CUSIP: N/A<br>LEI: 549300J8HD7K6BHD8O28       | Long             | EC               | CORP              | IE        |     25402 | NS      | $295171.24    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc       | Resources Connection Inc                     | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48277 | NS      | $246695.47    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Rimini Street Inc              | Rimini Street Inc                            | CUSIP: 76674Q107<br>LEI: 54930042ITIRGVM4HY55 | Long             | EC               | CORP              | US        |     84288 | NS      | $364967.04    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Shutterstock Inc               | Shutterstock Inc                             | CUSIP: 825690100<br>LEI: 529900G2TDIS56V0LO22 | Long             | EC               | CORP              | US        |     14070 | NS      | $294485.10    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc              | PROG Holdings Inc                            | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      9294 | NS      | $327520.56    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Riley Exploration Permian Inc  | Riley Exploration Permian Inc                | CUSIP: 76665T102<br>LEI: 5493008CUBI02XP43Q95 | Long             | EC               | CORP              | US        |      9304 | NS      | $272235.04    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| RPC Inc                        | RPC Inc                                      | CUSIP: 749660106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50343 | NS      | $240136.11    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SandRidge Energy Inc           | SandRidge Energy Inc                         | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |     21644 | NS      | $256264.96    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Hospitality Corp        | Target Hospitality Corp                      | CUSIP: 87615L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36065 | NS      | $327109.55    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd             | Teekay Tankers Ltd                           | CUSIP: N/A<br>LEI: 549300DE8ZAIYS2T6Q22       | Long             | EC               | CORP              | CA        |      5669 | NS      | $278744.73    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Safe Bulkers Inc               | Safe Bulkers Inc                             | CUSIP: N/A<br>LEI: 549300V6ZM2HJJYQQO85       | Long             | EC               | CORP              | MC        |     68275 | NS      | $290168.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Papa John's International Inc  | Papa John's International Inc                | CUSIP: 698813102<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | EC               | CORP              | US        |      5236 | NS      | $255045.56    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| RMR Group Inc/The              | RMR Group Inc/The                            | CUSIP: 74967R106<br>LEI: 549300JP4L34E48UJM16 | Long             | EC               | CORP              | US        |     15749 | NS      | $265843.12    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| RESOLUTE FOREST PRODUCTS       | RESOLUTE FOREST PRODUCTS                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     17062 | NS      | $170.62       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Shoe Carnival Inc              | Shoe Carnival Inc                            | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13142 | NS      | $274667.80    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith & Wesson Brands Inc      | Smith & Wesson Brands Inc                    | CUSIP: 831754106<br>LEI: 5493004PFHUPOR1PWN79 | Long             | EC               | CORP              | US        |     29556 | NS      | $241472.52    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Thryv Holdings Inc             | Thryv Holdings Inc                           | CUSIP: 886029206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20520 | NS      | $263887.20    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIM Integrated Shipping Servic | ZIM Integrated Shipping Services Ltd         | CUSIP: N/A<br>LEI: 21380089EIJRELKAIL21       | Long             | EC               | CORP              | IL        |     15584 | NS      | $212098.24    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer