EntrepreneurShares Series Trust NPORT-P Ershares Nextgen Entrepreneurs Etf (Sep 2021 report)

ERShares

Entrepreneurs

ETF

Schedule

of

Investments

September

30,

2021

-

(Unaudited)

Common

Stocks

—

91.99%

Shares

Fair

Value

Communications

—

17.10%

Alphabet,

Inc.,

Class

A

(a)

1,351‌

$

3,611,925‌

Facebook,

Inc.,

Class

A

(a)

10,330‌

3,505,898‌

Fiverr

International

Ltd.

(a)

7,917‌

1,446,278‌

Netflix,

Inc.

(a)

3,728‌

2,275,348‌

Roku,

Inc.

(a)

9,727‌

3,047,955‌

Sea

Ltd.

-

ADR

(a)

3,787‌

1,207,031‌

Shopify,

Inc.,

Class

A

(a)

1,461‌

1,980,795‌

Shutterstock

,

Inc.

11,898‌

1,348,281‌

Snap,

Inc.,

Class

A

(a)

9,685‌

715,431‌

Spotify

Technology

SA

(a)

3,961‌

892,572‌

Trade

Desk,

Inc.

(The),

Class

A

(a)

10,666‌

749,820‌

Zillow

Group,

Inc.,

Class

A

(a)

19,812‌

1,754,947‌

22,536,281‌

Consumer

Discretionary

—

10.25%

Copart

,

Inc.

(a)

13,920‌

1,930,982‌

DraftKings

,

Inc.,

Class

A

(a)

22,398‌

1,078,688‌

Etsy,

Inc.

(a)

14,471‌

3,009,389‌

MercadoLibre

,

Inc.

(a)

2,084‌

3,499,870‌

Tesla,

Inc.

(a)

1,606‌

1,245,421‌

Wayfair,

Inc.,

Class

A

(a)

10,739‌

2,743,922‌

13,508,272‌

Financials

—

1.22%

First

Republic

Bank

8,372‌

1,614,791‌

Health

Care

—

14.90%

10X

Genomics,

Inc.,

Class

A

(a)

14,201‌

2,067,382‌

CRISPR

Therapeutics

AG

(a)

10,969‌

1,227,760‌

Exact

Sciences

Corp.

(a)

8,692‌

829,651‌

Invitae

Corp.

(a)

22,747‌

646,697‌

Masimo

Corp.

(a)

11,712‌

3,170,556‌

Regeneron

Pharmaceuticals,

Inc.

(a)

8,014‌

4,849,913‌

ResMed

,

Inc.

17,540‌

4,622,666‌

Teladoc

Health,

Inc.

(a)

14,592‌

1,850,412‌

Twist

Bioscience

Corp.

(a)

3,565‌

381,348‌

19,646,385‌

Industrials

—

3.58%

Cintas

Corp.

12,395‌

4,718,281‌

Materials

—

3.43%

Steel

Dynamics,

Inc.

77,327‌

4,522,083‌

Technology

—

41.51%

Bill.com

Holdings,

Inc.

(a)

4,073‌

1,087,287‌

Cloudflare

,

Inc.,

Class

A

(a)

28,762‌

3,240,039‌

Crowdstrike

Holdings,

Inc.,

Class

A

(a)

10,277‌

2,525,881‌

Datadog

,

Inc.

(a)

19,613‌

2,772,298‌

EPAM

Systems,

Inc.

(a)

4,753‌

2,711,491‌

Fortinet,

Inc.

(a)

13,589‌

3,968,532‌

NVIDIA

Corp.

18,712‌

3,876,378‌

ERShares

Entrepreneurs

ETF

Schedule

of

Investments

(continued)

September

30,

2021

-

(Unaudited)

Common

Stocks

—

91.99%

-

continued

Shares

Fair

Value

Technology

—

41.51%

-

continued

Okta

,

Inc.

(a)

11,739‌

$

2,786,134‌

Oracle

Corp.

63,616‌

5,542,862‌

Palantir

Technologies,

Inc.,

Class

A

(a)

122,760‌

2,951,150‌

salesforce.com,

Inc.

(a)

10,877‌

2,950,060‌

Square,

Inc.,

Class

A

(a)

19,020‌

4,561,757‌

Synopsys,

Inc.

(a)

14,747‌

4,415,399‌

Twilio

,

Inc.,

Class

A

(a)

9,218‌

2,941,003‌

Ubiquiti,

Inc.

8,272‌

2,470,598‌

Veeva

Systems,

Inc.,

Class

A

(a)

12,441‌

3,585,123‌

Zoom

Video

Communications,

Inc.,

Class

A

(a)

8,928‌

2,334,672‌

54,720,664‌

Total  Common

Stocks

  (Cost $111,281,219)

121,266,757‌

Total

Investments

—

91.99%

    (Cost

$111,281,219)

121,266,757‌

Other

Assets

in

Excess

of

Liabilities 

—

 8.01%

10,562,545‌

Net

Assets

—

100.00%

$

131,829,302‌

(a)

Non-income

producing

security.

ADR

-

American

Depositary

Receipt.

ERShares

NextGen

Entrepreneurs

ETF

Schedule

of

Investments

September

30,

2021

-

(Unaudited)

Common

Stocks

—

97.26%

Shares

Fair

Value

Argentina

—

1.62%

Consumer

Discretionary

—

1.62%

MercadoLibre

,

Inc.

(a)

391‌

$

656,645‌

Total

Argentina

656,645‌

Australia

—

14.23%

Communications

—

3.24%

carsales.com,

Ltd.

23,187‌

416,196‌

SEEK

Ltd.

40,830‌

897,576‌

1,313,772‌

Consumer

Discretionary

—

5.48%

Flight

Centre

Travel

Group

Ltd.

(a)

92,848‌

1,415,850‌

Harvey

Norman

Holdings,

Ltd.

226,581‌

812,515‌

2,228,365‌

Financials

—

2.40%

Afterpay

,

Ltd.

(a)

11,193‌

972,394‌

Technology

—

3.11%

HUB24

Ltd.

15,064‌

310,184‌

WiseTech

Global

Ltd.

15,882‌

602,297‌

Zip

Company

Ltd.

(a)

70,950‌

349,931‌

1,262,412‌

Total

Australia

5,776,943‌

Bermuda

—

0.60%

Materials

—

0.60%

Nine

Dragons

Paper

Holdings

Ltd.

200,000‌

244,126‌

Total

Bermuda

244,126‌

Canada

—

11.79%

Communications

—

4.76%

Score

Media

and

Gaming,

Inc.

(a)

40,653‌

1,391,553‌

Shopify,

Inc.,

Class

A

(a)

400‌

542,312‌

1,933,865‌

Consumer

Discretionary

—

3.20%

Aritzia

,

Inc.

(a)

14,091‌

448,562‌

Gildan

Activewear

,

Inc.

12,753‌

465,979‌

Spin

Master

Corp.

(a)

11,752‌

381,434‌

1,295,975‌

Financials

—

1.16%

Onex

Corporation

6,643‌

469,615‌

Real

Estate

—

1.69%

Tricon

Residential,

Inc.

51,484‌

686,941‌

Technology

—

0.98%

Nuvei

Corporation

(a)

3,455‌

395,800‌

Total

Canada

4,782,196‌

ERShares

NextGen

Entrepreneurs

ETF

Schedule

of

Investments

(continued)

September

30,

2021

-

(Unaudited)

Cayman

Islands

—

2.68%

Consumer

Discretionary

—

2.68%

NagaCorp

Ltd.

658,472‌

$

561,780‌

Yadea

Group

Holdings

Ltd.

321,707‌

525,468‌

1,087,248‌

Total

Cayman

Islands

1,087,248‌

China

—

3.95%

Communications

—

1.20%

Bilibili

,

Inc.

-

ADR

(a)

7,325‌

484,695‌

Consumer

Discretionary

—

1.18%

Bosideng

International

Holdings,

Ltd.

673,118‌

476,084‌

Health

Care

—

0.74%

China

Medical

System

Holdings,

Ltd.

164,785‌

300,319‌

Technology

—

0.83%

Kingdee

International

Software

Group

Co.,

Ltd.

101,354‌

337,474‌

Total

China

1,598,572‌

Israel

—

13.72%

Communications

—

4.86%

Fiverr

International

Ltd.

(a)

5,423‌

990,674‌

Wix.com

Ltd.

(a)

4,990‌

977,890‌

1,968,564‌

Health

Care

—

1.64%

Inmode

Ltd.

(a)

4,184‌

667,139‌

Technology

—

7.22%

Check

Point

Software

Technologies

Ltd.

(a)

15,000‌

1,695,600‌

Radware

Ltd.

(a)

36,606‌

1,234,354‌

2,929,954‌

Total

Israel

5,565,657‌

Japan

—

8.21%

Industrials

—

1.45%

S-Pool,

Inc.

63,086‌

586,980‌

Technology

—

5.72%

GMO

Payment

Gateway,

Inc.

7,197‌

908,704‌

SHIFT,

Inc.

(a)

6,645‌

1,413,898‌

2,322,602‌

Utilities

—

1.04%

RENOVA,

Inc.

(a)

10,279‌

421,699‌

Total

Japan

3,331,281‌

Luxembourg

—

1.78%

Communications

—

1.78%

Spotify

Technology

SA

(a)

3,196‌

720,187‌

Total

Luxembourg

720,187‌

ERShares

NextGen

Entrepreneurs

ETF

Schedule

of

Investments

(continued)

September

30,

2021

-

(Unaudited)

Marshall

Islands

—

4.57%

Industrials

—

4.57%

Star

Bulk

Carriers

Corp.

77,170‌

$

1,855,167‌

Total

Marshall

Islands

1,855,167‌

New

Zealand

—

1.63%

Technology

—

1.63%

Xero

Ltd.

(a)

6,720‌

659,424‌

Total

New

Zealand

659,424‌

Singapore

—

1.30%

Communications

—

0.98%

Sea

Ltd.

-

ADR

(a)

1,252‌

399,050‌

Consumer

Discretionary

—

0.32%

Best

World

International,

Ltd.

(b)

128,500‌

128,708‌

Total

Singapore

527,758‌

Sweden

—

14.26%

Communications

—

1.57%

Embracer

Group

A.B.

(a)

66,326‌

635,552‌

Consumer

Discretionary

—

1.74%

Instalco

A.B.

15,471‌

707,411‌

Financials

—

1.11%

Nordnet

A.B.

publ

,

Class

A

25,100‌

449,636‌

Health

Care

—

5.27%

Cellavision

A.B.

10,644‌

475,400‌

CELLINK

A.B.

(a)

13,424‌

794,706‌

Sectra

A.B.

43,090‌

869,624‌

2,139,730‌

Industrials

—

1.02%

HMS

Networks

A.B.

8,583‌

413,256‌

Real

Estate

—

1.19%

Samhallsbyggnadsbolaget

i

Norden

A.B.

87,612‌

484,779‌

Technology

—

2.36%

Sinch

A.B.

(a)

49,470‌

959,322‌

Total

Sweden

5,789,686‌

Switzerland

—

2.69%

Health

Care

—

2.69%

CRISPR

Therapeutics

AG

(a)

9,753‌

1,091,653‌

Total

Switzerland

1,091,653‌

United

Kingdom

—

7.45%

Communications

—

3.62%

Frontier

Developments

plc

(a)

18,133‌

597,052‌

Future

plc

7,827‌

387,711‌

S4

Capital

PLC

(a)

42,573‌

483,521‌

1,468,284‌

ERShares

NextGen

Entrepreneurs

ETF

Schedule

of

Investments

(continued)

September

30,

2021

-

(Unaudited)

United

Kingdom7.45%(continued)

Consumer

Discretionary

—

2.56%

Frasers

Group

plc

(a)

113,522‌

$

1,038,122‌

Technology

—

1.27%

Computacenter

plc

14,190‌

516,169‌

Total

United

Kingdom

3,022,575‌

United

States

—

6.78%

Energy

—

4.27%

SolarEdge

Technologies,

Inc.

(a)

6,533‌

1,732,683‌

Real

Estate

—

2.51%

eXp

World

Holdings,

Inc.

25,625‌

1,019,106‌

Total

United

States

2,751,789‌

Total  Common

Stocks

  (Cost $34,008,634)

39,460,907‌

Total

Investments

—

97.26%

    (Cost

$34,008,634)

39,460,907‌

Other

Assets

in

Excess

of

Liabilities 

—

 2.74%

1,110,835‌

Net

Assets

—

100.00%

$

40,571,742‌

(a)

Non-income

producing

security.

(b)

Illiquid

security.

The

total

fair

value

of

these

securities

as

of

September

30,

2021

was

$128,708,

representing

0.32%

of

net

assets.

ADR

-

American

Depositary

Receipt.