# EDGAR Filing Document

**Accession Number:** 0001872253
**File Stem:** 0000940400-26-007077
**Filing Date:** 2026-2
**Character Count:** 24723
**Document Hash:** 5b76e43a95ba0b351377bddb9413a5e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007077.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000940400-26-007077

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Total Fund Solution
- **CENTRAL INDEX KEY:** 0001872253

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23724
- **FILM NUMBER:** 26664154

**BUSINESS ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286
- **BUSINESS PHONE:** 703-608-3499

**MAIL ADDRESS:**
- **STREET 1:** 810 GLENEAGLES CT
- **STREET 2:** SUITE 106
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21286

## Series and Classes Contracts Data

### Cromwell CenterSquare Real Estate Fund (Series ID: S000074018)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000231344 | Investor Class      | MRESX           |
| C000234136 | Institutional Class | MRASX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Total Fund Solution

- **b. Investment Company Act file number:** 811-23724

- **c. CIK number of Registrant:** 0001872253

- **d. LEI of Registrant:** 549300CL4E1CB85QJL55

- **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:** 626-914-7363

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

- **a. Name of Series:** Cromwell CenterSquare Real Estate Fund

- **b. EDGAR series identifier (if any):** S000074018

- **c. LEI of Series:** 549300WIERUVLR71X537

**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:** $88589203.10

**Total Liabilities:** $137402.26

**Net Assets:** $88451800.84

**Cash Not Reported:** $449943.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231344 | -1.65%               | 2.12%                | -2.21%               |
| Class ID C000234136 | -1.65%               | 2.12%                | -2.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-46702.60               | $-1510914.35                               |
| Month 2  | $52347.27                | $1758878.81                                |
| Month 3  | $-50027.06               | $-1992461.85                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sunstone Hotel Investors Inc                      | Sunstone Hotel Investors Inc                      | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     19030 | NS      | $170128.20    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                         | Piedmont Realty Trust Inc                         | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45060 | NS      | $375800.40    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                        | Sabra Health Care REIT Inc                        | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |     24495 | NS      | $463935.30    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                     | Welltower Inc                                     | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     42430 | NS      | $7875432.30   | 8.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | Vornado Realty Trust                              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22880 | NS      | $761446.40    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                         | Healthpeak Properties Inc                         | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     42010 | NS      | $675520.80    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                           | Extra Space Storage Inc                           | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24670 | NS      | $3212527.40   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | Equity Residential                                | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     16460 | NS      | $1037638.40   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trus                    | Federal Realty Investment Trust                   | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |      3880 | NS      | $391104.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I                    | Ryman Hospitality Properties Inc                  | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      2950 | NS      | $279129.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                      | Diversified Healthcare Trust                      | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42099 | NS      | $204180.15    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                          | Essex Property Trust Inc                          | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      4000 | NS      | $1046720.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                   | Macerich Co/The                                   | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     52200 | NS      | $963612.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                    | Public Storage                                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     11030 | NS      | $2862285.00   | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                 | Iron Mountain Inc                                 | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     22088 | NS      | $1832199.60   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                     | National Health Investors Inc                     | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     12480 | NS      | $953097.60    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                           | SBA Communications Corp                           | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      7960 | NS      | $1539702.80   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                        | Americold Realty Trust Inc                        | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |     18830 | NS      | $242153.80    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                     | Empire State Realty Trust Inc                     | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |     45670 | NS      | $297768.40    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FrontView REIT Inc                                | FrontView REIT Inc                                | CUSIP: 35922N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11230 | NS      | $165754.80    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                       | Healthcare Realty Trust Inc                       | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |     54500 | NS      | $923775.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                           | UDR Inc                                           | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     73100 | NS      | $2681308.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                             | Camden Property Trust                             | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     20540 | NS      | $2261043.20   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In                    | Equity LifeStyle Properties Inc                   | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     18139 | NS      | $1099404.79   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                        | DiamondRock Hospitality Co                        | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               | CORP              | US        |     60660 | NS      | $543513.60    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie                    | Alexandria Real Estate Equities Inc               | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     11320 | NS      | $554000.80    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                              | SL Green Realty Corp                              | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |      5130 | NS      | $235313.10    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                       | Lineage Inc                                       | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4870 | NS      | $170450.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                             | American Homes 4 Rent                             | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     44530 | NS      | $1429413.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                                 | Kimco Realty Corp                                 | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    104150 | NS      | $2111120.50   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                      | American Healthcare REIT Inc                      | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |     26070 | NS      | $1226854.20   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                        | InvenTrust Properties Corp                        | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     15020 | NS      | $423714.20    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                         | Host Hotels & Resorts Inc                         | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     62980 | NS      | $1116635.40   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                              | Lamar Advertising Co                              | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      2050 | NS      | $259489.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                          | Broadstone Net Lease Inc                          | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     30050 | NS      | $521968.50    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                              | Invitation Homes Inc                              | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44316 | NS      | $1231541.64   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                 | Agree Realty Corp                                 | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27320 | NS      | $1967859.60   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                    | NETSTREIT Corp                                    | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     41390 | NS      | $730119.60    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                        | Ventas Inc                                        | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     49710 | NS      | $3846559.80   | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust                     | First Industrial Realty Trust Inc                 | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14940 | NS      | $855613.80    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                                  | Crown Castle Inc                                  | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     20070 | NS      | $1783620.90   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                        | Xenia Hotels & Resorts Inc                        | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |      4536 | NS      | $64139.04     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                          | Simon Property Group Inc                          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     12770 | NS      | $2363854.70   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                    | Omega Healthcare Investors Inc                    | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     30050 | NS      | $1332417.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                 | RLJ Lodging Trust                                 | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23730 | NS      | $176788.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                | Realty Income Corp                                | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     20590 | NS      | $1160658.30   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                           | BXP Inc                                           | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     11180 | NS      | $754426.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                     | Rexford Industrial Realty Inc                     | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     19520 | NS      | $755814.40    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                           | Kite Realty Group Trust                           | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65260 | NS      | $1564282.20   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                        | Brixmor Property Group Inc                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     84300 | NS      | $2210346.00   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                          | EastGroup Properties Inc                          | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |      3140 | NS      | $559359.60    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management Fund | Dreyfus Treasury Obligations Cash Management Fund | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |     24846 | NS      | $24845.80     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc                          | Digital Realty Trust Inc                          | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     25390 | NS      | $3928086.90   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                               | American Tower Corp                               | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     34010 | NS      | $5971135.70   | 6.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                      | Prologis Inc                                      | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     48410 | NS      | $6180020.60   | 6.99%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                               | VICI Properties Inc                               | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     37380 | NS      | $1051125.60   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                   | Weyerhaeuser Co                                   | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     50449 | NS      | $1195136.81   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                       | Equinix Inc                                       | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      7470 | NS      | $5723215.20   | 6.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                            | Cousins Properties Inc                            | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     45590 | NS      | $1175310.20   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                | Douglas Emmett Inc                                | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22570 | NS      | $248044.30    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-21

**Name of Applicant:** Total Fund Solution

**Signature:** Brian Nelson

**Name of Signer:** Brian Nelson

**Title:** Treasurer, Principal Financial Officer