# EDGAR Filing Document

**Accession Number:** 0001969674
**File Stem:** 0001004726-26-004142
**Filing Date:** 2026-5
**Character Count:** 33050
**Document Hash:** f87fafce1cecb1622bdebeafae3f0988
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004726-26-004142.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001004726-26-004142

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** 2023 ETF Series Trust
- **CENTRAL INDEX KEY:** 0001969674

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23883
- **FILM NUMBER:** 261032366

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI
- **BUSINESS PHONE:** (833) 782-2211

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET
- **STREET 2:** SUITE 700
- **CITY:** MILWAUKEE
- **STATE:** WI

## Series and Classes Contracts Data

### Pacific NoS Global EM Equity Active ETF (Series ID: S000088737)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000255106 | Pacific NoS Global EM Equity Active ETF | GEME            |

## Nport-Ex

Pacific

NoS

Global

EM

Equity

Active

ETF

Schedule

of

Investments

March

31,

2026

(Unaudited)

Shares

Value

Common

Stocks

-

91.9%

Argentina

-

2.8%

#### a
YPF

SA

-

ADR

(a) .....................................................................................

127,082

$

5,873,730

Canada

-

2.9%

Capstone

Copper

Corp.

(a) ...............................................................................

350,802

2,636,891

Pan

American

Silver

Corp.

..............................................................................

62,368

3,407,164

6,044,055

China

-

23.4%

Alibaba

Group

Holding,

Ltd.

-

Class

W

....................................................................

591,816

8,982,692

Baidu,

Inc.

-

ADR

(a) ...................................................................................

27,023

3,010,903

Contemporary

Amperex

Technology

Co.,

Ltd.

-

Class

A

.........................................................

125,700

7,309,240

Dongfang

Electric

Corp.,

Ltd.

-

Class

H

....................................................................

354,100

1,535,598

Full

Truck

Alliance

Co.,

Ltd.

-

ADR

.......................................................................

416,785

3,459,315

Haidilao

International

Holding,

Ltd.

(b) ......................................................................

2,024,000

3,683,896

JD.com,

Inc.

-

ADR

...................................................................................

152,620

4,512,974

Ningbo

Deye

Technology

Co.,

Ltd.

-

Class

A

.................................................................

224,500

4,272,136

PICC

Property

&

Casualty

Co.,

Ltd.

-

Class

H

................................................................

1,644,000

2,990,158

Sinotruk

Hong

Kong,

Ltd.

..............................................................................

619,500

3,064,234

Tongcheng

Travel

Holdings,

Ltd.

.........................................................................

1,060,000

2,433,611

Yutong

Bus

Co.,

Ltd.

-

Class

A

...........................................................................

700,141

3,634,385

48,889,142

Greece

-

1.3%

National

Bank

of

Greece

SA

............................................................................

176,480

2,691,223

India

-

3.2%

ICICI

Bank,

Ltd.

-

ADR

...............................................................................

256,494

6,643,195

Indonesia

-

2.7%

Bank

Central

Asia

TBK

PT

.............................................................................

5,824,872

2,210,740

Bank

Mandiri

Persero

TBK

PT

..........................................................................

11,930,900

3,313,651

5,524,391

Kazakhstan

-

0.5%

Kaspi.KZ

JSC

-

ADR

(a) ................................................................................

14,600

1,081,422

Malaysia

-

1.7%

Malayan

Banking

BHD

................................................................................

1,300,800

3,649,565

Mexico

-

3.2%

Grupo

Financiero

Banorte

SAB

de

CV

-

Class

O

..............................................................

280,999

3,096,028

Wal-Mart

de

Mexico

SAB

de

CV

.........................................................................

1,079,561

3,482,552

6,578,580

Poland

-

1.4%

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

..............................................................

123,822

2,884,934

Republic

of

Korea

-

14.8%

Kia

Corp.

..........................................................................................

56,170

5,324,901

Samsung

Electronics

Co.,

Ltd.

...........................................................................

59,712

6,518,360

Samsung

Electronics

Co.,

Ltd.

...........................................................................

106,102

7,897,123

SK

Square

Co.,

Ltd.

(a) .................................................................................

20,070

6,112,790

Pacific

NoS

Global

EM

Equity

Active

ETF

Schedule

of

Investments

—

continued

March

31,

2026

(Unaudited)

Shares

Value

Common

Stocks

-

91.9%

(continued)

Republic

of

Korea

-

14.8%

(continued)

SK,

Inc.

...........................................................................................

18,213

$

3,579,221

Woori

Financial

Group,

Inc.

.............................................................................

78,505

1,642,729

31,075,124

Saudi

Arabia

-

1.4%

Saudi

Awwal

Bank

...................................................................................

303,993

3,021,622

South

Africa

-

7.1%

Absa

Group,

Ltd.

....................................................................................

304,796

4,294,654

FirstRand,

Ltd.

......................................................................................

567,819

2,857,423

Naspers,

Ltd.

-

Class

N

................................................................................

117,154

5,899,346

Vodacom

Group,

Ltd.

.................................................................................

211,794

1,785,664

14,837,087

Switzerland

-

0.9%

Coca-Cola

HBC

AG

(a) .................................................................................

35,089

1,964,710

Taiwan

-

18.8%

Lotes

Co.,

Ltd.

......................................................................................

78,856

5,056,453

MediaTek,

Inc.

......................................................................................

165,403

7,708,804

Minth

Group,

Ltd.

....................................................................................

856,900

3,545,552

Taiwan

Semiconductor

Manufacturing

Co.,

Ltd.

..............................................................

319,037

17,563,501

United

Microelectronics

Corp.

...........................................................................

3,058,819

5,405,795

39,280,105

Thailand

-

3.4%

Bangkok

Bank

PCL

-

NVDR

............................................................................

611,700

3,088,176

CP

ALL

PCL

-

NVDR

.................................................................................

2,861,000

3,947,104

7,035,280

United

Arab

Emirates

-

2.4%

Adnoc

Gas

PLC

.....................................................................................

2,301,397

2,004,865

Dubai

Islamic

Bank

PJSC

(a) .............................................................................

515,966

1,028,196

Emaar

Properties

PJSC

................................................................................

590,170

1,879,778

4,912,839

Total

Common

Stocks

(Cost

$186,475,838)

191,987,004

Total

Investments

-

91.9%

(Cost

$186,475,838)

191,987,004

Net

other

assets

(liabilities)

-

8.1%

16,896,641

Net

Assets

-

100%

$

208,883,645

(a) Non-income

producing

(b) Rule

144A,

Section

4(2),

or

other

security

that

is

restricted

as

to

resale

to

institutional

investors.

This

security

has

been

deemed

liquid

based

upon

the

Fund's

Liquidity

Guidelines.

The

liquidity

determination

is

unaudited.

As

of

March

31,

2026,

the

aggregate

value

of

these

securities

was

$3,683,896

which

represented

1.8%

of

the

net

assets

of

the

Fund.

ADR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American

Depositary

Receipt

NVDR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Non-Voting

Depository

Receipt

PLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Public

Limited

Company

SA&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Special

Assessment

Pacific

NoS

Global

EM

Equity

Active

ETF

Schedule

of

Investments

—

continued

March

31,

2026

(Unaudited)

There

are

no

upfront

payments

or

receipts

associated

with

total

return

swaps

in

the

Fund

as

of

March

31,

2026. Total

Return

Swap

Agreements

-

Long

Pay/Receive

(a) Reference

Entity

Counterparty

Shares

Termination

Date

Financing

Rate

Payment

Frequency

Notional

Amount

Unrealized

Appreciation

(Depreciation)

Receive

SK

Square

Co.,

Ltd.

Goldman

Sachs

International

301,475

12/31/26

Effective

Federal

Funds

Rate

(b) +

bps

Monthly

$

(115,156)

$

(115,156)

(a) Receive

represents

that

the

Fund

receives

payment

for

any

positive

return

on

the

underlying

reference.

The

Fund

makes

payments

for

any

negative

return

on

such

underlying

reference.

Pay

represents

that

the

Fund

receives

payments

for

any

negative

return

on

the

underlying

reference.

The

Fund

makes

payments

for

any

positive

return

on

such

underlying

reference.

(b) The

Effective

Federal

Funds

Rate

at

March

31,

2026

was

3.64%.

Forward

Currency

Contracts

At

March

31,

2026,

the

Fund's

open

forward

currency

contracts

were

as

follows:

Currency

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Foreign

Exchange

Appreciation

(Depreciation)

Taiwanese

Dollar

23,872,000

U.S.

Dollar

800,000

BTIG,

LLC

4/21/26

$

(52,233)

Taiwanese

Dollar

25,560,000

U.S.

Dollar

900,000

Citigroup

5/5/26

(98,538)

$

(150,771)

U.S.

Dollar

1,900,000

Taiwanese

Dollar

59,375,000

Citibank

4/21/26

$

40,135

U.S.

Dollar

400,000

Taiwanese

Dollar

10,760,000

Citigroup

5/5/26

62,609

$

102,744

Total

Net

Forward

Currency

Contracts

$

(48,027)

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** The 2023 ETF Series Trust

- **b. Investment Company Act file number:** 811-23883

- **c. CIK number of Registrant:** 0001969674

- **d. LEI of Registrant:** 5493000L2E3DBUPMOK03

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 262-267-4589

**Item A.2. Information about the Series.**

- **a. Name of Series:** Pacific NoS Global EM Equity Active ETF

- **b. EDGAR series identifier (if any):** S000088737

- **c. LEI of Series:** 529900C33J7ODTLYTP41

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $211589156.24

**Total Liabilities:** $2706544.40

**Net Assets:** $208882611.84

**Cash Not Reported:** $12651363.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255106 | 12.92%               | 8.33%                | -12.96%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9280.49                 | $10858434.92                               |
| Month 2  | $862545.69               | $11245484.34                               |
| Month 3  | $100556.66               | $-28766114.74                              |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| PT Bank Central Asia Tbk                                | BANK CENTRAL ASIA TBK PT                    | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |   5824872 | NS      | $2210740.20   | 1.06%             |  |  |  | No            | 1                  | On Loan: No      |
| MediaTek Inc.                                           | MEDIATEK INC                                | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    165403 | NS      | $7708804.19   | 3.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Dubai Islamic Bank P.J.S.C.                             | DUBAI ISLAMIC BANK PJSC                     | CUSIP: N/A<br>LEI: 5493003E7YRAQY3JGW88       | Long             | EC               | CORP              | AE        |    515966 | NS      | $1028195.66   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Alibaba Group Holding Limited                           | ALIBABA GROUP HOLDING LTD                   | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |    591816 | NS      | $8982692.28   | 4.30%             |  |  |  | No            | 1                  | On Loan: No      |
| ABSA GROUP LIMITED                                      | ABSA GROUP LTD                              | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               | CORP              | ZA        |    304796 | NS      | $4294654.43   | 2.06%             |  |  |  | No            | 1                  | On Loan: No      |
| JD.COM, INC.                                            | JD COM INC                                  | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             |  | CORP              | KY        |    152620 | NS      | $4512973.40   | 2.16%             |  |  |  | No            | 1                  | On Loan: No      |
| HONG KONG DOLLAR                                        | HONG KONG DOLLAR                            | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | HK        |  10616077 | NS      | $1354056.97   | 0.65%             |  |  |  | No            | N/A                | On Loan: No      |
| NEW TAIWAN DOLLAR                                       | NEW TAIWAN DOLLAR                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | TW        | -25560000 | OU      | $-98538.52    | -0.05%            |  |  |  | No            | 2                  | On Loan: No      |
| KOREAN WON                                              | KOREAN WON                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | KR        | 806091162 | NS      | $526289.40    | 0.25%             |  |  |  | No            | N/A                | On Loan: No      |
| Samsung Electronics Co., Ltd.                           | SAMSUNG ELECTRONICS CO LTD                  | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     66869 | NS      | $7299642.09   | 3.49%             |  |  |  | No            | 1                  | On Loan: No      |
| UN. ARAB EMIRATES DIRHAM                                | UNITED ARAB EMIRATES DIRHAM                 | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | AE        |   2204561 | NS      | $600158.20    | 0.29%             |  |  |  | No            | N/A                | On Loan: No      |
| YPF Sociedad Anonima                                    | YPF SA                                      | CUSIP: 984245100<br>LEI: 5493003N7447U18U5U53 | Long             |  | CORP              | AR        |    113787 | NS      | $5259235.14   | 2.52%             |  |  |  | No            | 1                  | On Loan: No      |
| MINTH GROUP LIMITED                                     | MINTH GROUP LTD                             | CUSIP: N/A<br>LEI: 254900B2AH0G13K9G204       | Long             | EC               | CORP              | KY        |    856900 | NS      | $3545551.90   | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| KIA CORPORATION                                         | KIA CORP                                    | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |     56170 | NS      | $5324900.60   | 2.55%             |  |  |  | No            | 1                  | On Loan: No      |
| ICICI BANK LIMITED                                      | ICICI BANK LTD                              | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             |  | CORP              | IN        |    256494 | NS      | $6643194.60   | 3.18%             |  |  |  | No            | 1                  | On Loan: No      |
| FIRSTRAND LIMITED                                       | FIRSTRAND LTD                               | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |    567819 | NS      | $2857422.44   | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| LOTES CO., LTD.                                         | LOTES CO LTD                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     78856 | NS      | $5056452.92   | 2.42%             |  |  |  | No            | 1                  | On Loan: No      |
| POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SPOLKA AKCYJNA | POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SA | CUSIP: N/A<br>LEI: P4GTT6GF1W40CVIMFR43       | Long             | EC               | CORP              | PL        |    123822 | NS      | $2884934.19   | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| SK Square Co., Ltd.                                     | SK SQUARE CO LTD                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     20070 | NS      | $6112790.13   | 2.93%             |  |  |  | No            | 1                  | On Loan: No      |
| ADNOC Gas PLC                                           | ADNOC GAS PLC                               | CUSIP: N/A<br>LEI: 254900O5NS03BDOOM362       | Long             | EC               | CORP              | AE        |   2301397 | NS      | $2004864.94   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| YUTONG BUS CO., LTD.                                    | ZHENGZHOU YUTONG BUS CO LTD                 | CUSIP: N/A<br>LEI: 300300OMPRVW0Q75F037       | Long             | EC               | CORP              | CN        |    700141 | NS      | $3634384.68   | 1.74%             |  |  |  | No            | 1                  | On Loan: No      |
| U S DOLLARS                                             | U S DOLLARS                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |  10760000 | OU      | $62608.55     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| SK Inc.                                                 | SK INC                                      | CUSIP: N/A<br>LEI: 988400GMME8AOAFMDK34       | Long             | EC               | CORP              | KR        |     18213 | NS      | $3579220.45   | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Joint Stock Company Kaspi.kz                            | KASPI KZ JSC                                | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             |  | CORP              | KZ        |     14600 | NS      | $1081422.00   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Pan American Silver Corp.                               | PAN AMERICAN SILVER CORP                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     62368 | NS      | $3407163.84   | 1.63%             |  |  |  | No            | 1                  | On Loan: No      |
| VODACOM GROUP LIMITED                                   | VODACOM GROUP LTD                           | CUSIP: N/A<br>LEI: 37890012A8DC24B8D663       | Long             | EC               | CORP              | ZA        |    211794 | NS      | $1785664.38   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Grupo Financiero Banorte, S.A.B. de C.V.                | GRUPO FINANCIERO BANORTE SAB DE CV          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    280999 | NS      | $3096027.56   | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Taiwan Semiconductor Manufacturing Company Limited      | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD   | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |    319037 | NS      | $17563500.78  | 8.41%             |  |  |  | No            | 1                  | On Loan: No      |
| NEW TAIWAN DOLLAR                                       | NEW TAIWAN DOLLAR                           | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | TW        |  69744000 | NS      | $2181545.20   | 1.04%             |  |  |  | No            | N/A                | On Loan: No      |
| NASPERS LIMITED                                         | NASPERS NPV                                 | CUSIP: N/A<br>LEI: 21380044BQ8812EEKT59       | Long             | EC               | CORP              | ZA        |    117154 | NS      | $5899346.39   | 2.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Coca-Cola HBC AG                                        | COCA COLA HBC AG                            | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               | CORP              | CH        |     35089 | NS      | $1964710.07   | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Contemporary Amperex Technology Co., Ltd.               | CONTEMPORARY AMPEREX TECHNOLOGY CO LTD      | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |    125700 | NS      | $7309239.74   | 3.50%             |  |  |  | No            | 1                  | On Loan: No      |
| PICC Property and Casualty Company Limited              | PICC PROPERTY CASUALTY CO LTD               | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               | CORP              | CN        |   1644000 | NS      | $2990158.41   | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| CP All Public Company Limited                           | CP ALL PCL                                  | CUSIP: N/A<br>LEI: 894500LSBZLM09TY1A91       | Long             | EC               | CORP              | TH        |   2861000 | NS      | $3947104.31   | 1.89%             |  |  |  | No            | 2                  | On Loan: No      |
| NATIONAL BANK OF GREECE S.A.                            | NATIONAL BANK OF GREECE SA                  | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |    176480 | NS      | $2691223.41   | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Sinotruk (Hong Kong) Limited                            | SINOTRUK HONG KONG LTD                      | CUSIP: N/A<br>LEI: 529900BB4WA4W576X724       | Long             | EC               | CORP              | HK        |    619500 | NS      | $3064234.33   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Saudi Awwal Bank SJSC                                   | SAUDI AWWAL BANK                            | CUSIP: N/A<br>LEI: 558600TQS0WENZUC5190       | Long             | EC               | CORP              | SA        |    303993 | NS      | $3021622.05   | 1.45%             |  |  |  | No            | 1                  | On Loan: No      |
| CAPSTONE COPPER CORP.                                   | CAPSTONE COPPER CORP                        | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    350802 | NS      | $2636890.82   | 1.26%             |  |  |  | No            | 1                  | On Loan: No      |
| RECV REC LTD                                            | RECV REC LTD                                | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               |  | US        |    301475 | NC      | $-115155.53   | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| U S DOLLARS                                             | U S DOLLARS                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |  59375000 | OU      | $40135.12     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| United Microelectronics Corporation                     | UNITED MICROELECTRONICS CORP                | CUSIP: N/A<br>LEI: 391200YJCAGH9LF96P73       | Long             | EC               | CORP              | TW        |   3058819 | NS      | $5405795.23   | 2.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Woori Financial Group Inc.                              | WOORI FINANCIAL GROUP INC                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     78505 | NS      | $1642728.59   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| BAIDU, INC.                                             | BAIDU INC                                   | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             |  | CORP              | KY        |     27023 | NS      | $3010902.66   | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| SAUDI ARABIAN RIYAL                                     | SAUDI ARABIAN RYAL                          | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | SA        |   1548726 | NS      | $412707.57    | 0.20%             |  |  |  | No            | N/A                | On Loan: No      |
| Ningbo Deye Technology Co Ltd                           | NINGBO DEYE TECHNOLOGY CO LTD               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    224500 | NS      | $4272136.01   | 2.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Dongfang Electric Corporation Limited                   | DONGFANG ELECTRIC CORP LTD                  | CUSIP: N/A<br>LEI: 529900ISAW6T566F0R12       | Long             | EC               | CORP              | CN        |    411400 | NS      | $1784087.14   | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| THAILAND BAHT                                           | THAILAND BAHT                               | CUSIP: N/A<br>LEI: N/A                        | N/A              |  |  | TH        | -21626729 | NS      | $-655752.86   | -0.31%            |  |  |  | No            | N/A                | On Loan: No      |
| MALAYAN BANKING BERHAD                                  | MALAYAN BANKING BHD                         | CUSIP: N/A<br>LEI: 5493004OT3TOY404V310       | Long             | EC               | CORP              | MY        |   1300800 | NS      | $3649564.83   | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Samsung Electronics Co., Ltd.                           | SAMSUNG ELECTRONICS CO LTD                  | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    106102 | NS      | $7897122.71   | 3.78%             |  |  |  | No            | 1                  | On Loan: No      |
| BANGKOK BANK PUBLIC COMPANY LIMITED                     | BANGKOK BANK PCL                            | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               | CORP              | TH        |    611700 | NS      | $3088176.17   | 1.48%             |  |  |  | No            | 2                  | On Loan: No      |
| Full Truck Alliance Co Ltd                              | FULL TRUCK ALLIANCE CO LTD                  | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             |  | CORP              | KY        |    416785 | NS      | $3459315.50   | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| HAIDILAO INTERNATIONAL HOLDING LTD.                     | HAIDILAO INTERNATIONAL HOLDING LTD          | CUSIP: N/A<br>LEI: 3003009Q8GV4VNKZWI24       | Long             | EC               | CORP              | KY        |   2024000 | NS      | $3683895.82   | 1.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Tongcheng Travel Holdings Limited                       | TONGCHENG TRAVEL HLDGS                      | CUSIP: N/A<br>LEI: 2549004WGGNOPL8NUL61       | Long             | EC               | CORP              | KY        |   1060000 | NS      | $2433611.39   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| NEW TAIWAN DOLLAR                                       | NEW TAIWAN DOLLAR                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | TW        | -23872000 | OU      | $-52232.52    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| Wal-Mart de Mexico, S.A.B. de C.V.                      | WAL MART DE MEXICO SAB DE CV                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   1079561 | NS      | $3482551.35   | 1.67%             |  |  |  | No            | 1                  | On Loan: No      |
| EMAAR PROPERTIES (P.J.S.C)                              | EMAAR PROPERTIES PJSC                       | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |    590170 | NS      | $1879778.13   | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| PT Bank Mandiri (Persero) Tbk                           | BANK MANDIRI PERSERO TBK PT                 | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |  11930900 | NS      | $3313651.36   | 1.59%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** The 2023 ETF Series Trust

**Signature:** Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Principal Financial Officer