# EDGAR Filing Document

**Accession Number:** 0001540305
**File Stem:** 0000894189-26-006465
**Filing Date:** 2026-2
**Character Count:** 16669
**Document Hash:** 5bc84d00f0ee96d429d024d6a7f07025
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-006465.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000894189-26-006465

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26693962

**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

### Bahl & Gaynor Small Cap Dividend ETF (Series ID: S000089193)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000255707 | Bahl & Gaynor Small Cap Dividend ETF | SCDV            |

## 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:** Bahl & Gaynor Small Cap Dividend ETF

- **b. EDGAR series identifier (if any):** S000089193

- **c. LEI of Series:** 5299003YU3Y52B8BIR71

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

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

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $124581377.58

**Total Liabilities:** $215201.77

**Net Assets:** $124366175.81

**Cash Not Reported:** $67806.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255707 | -1.39%               | -0.34%               | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1103338.67              | $-2790794.50                               |
| Month 2  | $1708884.40              | $-2274865.98                               |
| Month 3  | $1516568.30              | $-3214134.68                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federal Signal Corp            | Federal Signal Corp                 | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     59177 | NS      | $6426030.43   | 5.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc   | American Healthcare REIT Inc        | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     87835 | NS      | $4133515.10   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                 | AptarGroup Inc                      | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     23533 | NS      | $2870084.68   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc | Armstrong World Industries Inc      | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |      5908 | NS      | $1129018.80   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797RT6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      9000 | PA      | $8963.26      | 0.01%             | 2026-02-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Balchem Corp                   | Balchem Corp                        | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     23360 | NS      | $3582489.60   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                    | Chemed Corp                         | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |     11705 | NS      | $5008101.30   | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc               | DT Midstream Inc                    | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22500 | NS      | $2692800.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc          | Gildan Activewear Inc               | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |    123944 | NS      | $7741542.24   | 6.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products In | Installed Building Products Inc     | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |      6996 | NS      | $1814692.44   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc          | LeMaitre Vascular Inc               | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |     36559 | NS      | $2964934.90   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                 | Littelfuse Inc                      | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     15350 | NS      | $3882322.00   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797SC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     61000 | PA      | $60506.03     | 0.05%             | 2026-03-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Perrigo Co PLC                 | Perrigo Co PLC                      | CUSIP: N/A<br>LEI: 549300IFOQS6R1QLY196       | Long             | EC               | CORP              | IE        |    111957 | NS      | $1558441.44   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Interparfums Inc               | Interparfums Inc                    | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23420 | NS      | $1986718.60   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                 | MSA Safety Inc                      | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |     31596 | NS      | $5059783.44   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797RU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     35000 | PA      | $34808.44     | 0.03%             | 2026-02-26      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AAON Inc                       | AAON Inc                            | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23209 | NS      | $1769686.25   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologie | Applied Industrial Technologies Inc | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      9763 | NS      | $2506845.51   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     22791 | NS      | $3939196.44   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp            | Curtiss-Wright Corp                 | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     12223 | NS      | $6738173.21   | 5.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp          | Encompass Health Corp               | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      7974 | NS      | $846360.36    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                      | Enpro Inc                           | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |     22855 | NS      | $4893941.15   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The           | Ensign Group Inc/The                | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     53154 | NS      | $9259426.80   | 7.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                   | Evercore Inc                        | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     16635 | NS      | $5660058.75   | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The          | New York Times Co/The               | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     62937 | NS      | $4369086.54   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America I | Reinsurance Group of America Inc    | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     12644 | NS      | $2572548.24   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797RV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     22000 | PA      | $21866.55     | 0.02%             | 2026-03-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| US Physical Therapy Inc        | US Physical Therapy Inc             | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |     42145 | NS      | $3291103.05   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    106000 | PA      | $105216.41    | 0.08%             | 2026-03-19      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill         | CUSIP: 912797SB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19864.28     | 0.02%             | 2026-03-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Terreno Realty Corp            | Terreno Realty Corp                 | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28952 | NS      | $1699771.92   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Display Corp         | Universal Display Corp              | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10805 | NS      | $1261807.90   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings Inc   | Victory Capital Holdings Inc        | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |     82350 | NS      | $5195461.50   | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Marzetti Company/The           | Marzetti Company/The                | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |     17784 | NS      | $2924045.28   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                 | Tetra Tech Inc                      | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |    140190 | NS      | $4701972.60   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp      | Chesapeake Utilities Corp           | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |     31864 | NS      | $3975352.64   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc      | Kinsale Capital Group Inc           | CUSIP: 49714P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3875 | NS      | $1515590.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc            | Texas Roadhouse Inc                 | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     22698 | NS      | $3767868.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Utz Brands Inc                 | Utz Brands Inc                      | CUSIP: 918090101<br>LEI: 5299009BHBU2NH5HRN16 | Long             | EC               | CORP              | US        |    231078 | NS      | $2398589.64   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** ETF Series Solutions

**Signature:** /s/ Kristen Weitzel

**Name of Signer:** ETF Series Solutions

**Title:** Treasurer