ETF Series Solutions (HOMZ) NPORT-P U.S. Diversified Real Estate ETF (Nov 2024 report)

U.S. Diversified Real Estate ETF
Schedule of Investments
November 30, 2024 (Unaudited)
COMMON STOCKS - 99.9%		Shares		Value
Asset Management & Custody Banks - 0.4%
DigitalBridge Group, Inc.			26,952	$	353,071
Data Center REITs - 8.9%
Digital Realty Trust, Inc.			18,705		3,660,381
Equinix, Inc.			4,095		4,019,161
					7,679,542
Diversified REITs - 4.5%
Alexander & Baldwin, Inc.			8,233		162,025
American Assets Trust, Inc.			44,926		1,277,696
Armada Hoffler Properties, Inc.			18,481		204,215
Broadstone Net Lease, Inc.			4,977		87,147
Empire State Realty Trust, Inc. - Class A			101,404		1,111,388
Essential Properties Realty Trust, Inc.			2,630		89,683
WP Carey, Inc.			16,899		964,257
					3,896,411
Health Care Facilities - 0.3%
National HealthCare Corporation			2,085		261,042
Health Care REITs - 11.0%
Alexandria Real Estate Equities, Inc.			27,156		2,993,406
CareTrust REIT, Inc.			11,997		357,391
Community Healthcare Trust, Inc.			7,929		149,858
Global Medical REIT, Inc.			8,174		72,667
Healthcare Realty Trust, Inc.			7,741		141,815
Healthpeak Properties, Inc.			28,892		635,335
LTC Properties, Inc.			7,628		294,365
National Health Investors, Inc.			4,433		339,789
Omega Healthcare Investors, Inc.			15,086		612,642
Sabra Health Care REIT, Inc.			20,144		377,297
Ventas, Inc.			17,964		1,150,954
Welltower, Inc.			17,129		2,366,885
					9,492,404
Hotel & Resort REITs - 2.1%
Apple Hospitality REIT, Inc.			22,185		357,400
DiamondRock Hospitality Company			9,623		89,302
Host Hotels & Resorts, Inc.			29,743		547,866
Ryman Hospitality Properties, Inc.			3,996		468,491
Sunstone Hotel Investors, Inc.			27,934		300,291
Xenia Hotels & Resorts, Inc.			5,674		87,266
					1,850,616
Hotels, Resorts & Cruise Lines - 5.9%
Choice Hotels International, Inc.			2,942		444,948
Hilton Worldwide Holdings, Inc.			6,179		1,566,006
Hyatt Hotels Corporation - Class A			3,650		576,481
Marriott International, Inc. - Class A			6,916		1,999,346
Wyndham Hotels & Resorts, Inc.			4,900		481,082
					5,067,863
Industrial REITs - 12.2%
Americold Realty Trust, Inc.			55,343		1,320,484
EastGroup Properties, Inc.			6,370		1,096,978
First Industrial Realty Trust, Inc.			15,649		836,439
Innovative Industrial Properties, Inc.			9,248		1,008,217
LXP Industrial Trust			7,732		72,294
Plymouth Industrial REIT, Inc.			3,314		62,104
Prologis, Inc.			26,160		3,054,965
Rexford Industrial Realty, Inc.			1,635		68,801
STAG Industrial, Inc.			36,259		1,333,969
Terreno Realty Corporation			28,261		1,713,464
					10,567,715
Multi-Family Residential REITs - 17.0%
Apartment Investment and Management Company - Class A (a)			8,770		77,527
AvalonBay Communities, Inc.			15,053		3,542,723
Camden Property Trust			10,307		1,296,621
Centerspace			4,195		304,137
Elme Communities			4,762		80,668
Equity Residential			33,442		2,563,664
Essex Property Trust, Inc.			5,637		1,750,063
Independence Realty Trust, Inc.			69,540		1,518,754
Mid-America Apartment Communities, Inc.			10,037		1,647,674
UDR, Inc.			39,370		1,805,508
					14,587,339
Office REITs - 11.3%
BXP, Inc.			9,735		798,173
COPT Defense Properties			47,698		1,571,649
Cousins Properties, Inc.			42,347		1,344,094
Douglas Emmett, Inc.			26,506		513,156
Easterly Government Properties, Inc.			166,676		2,053,448
Highwoods Properties, Inc.			63,463		2,060,009
JBG SMITH Properties			4,793		81,912
Kilroy Realty Corporation			2,239		92,986
SL Green Realty Corporation			14,347		1,121,792
Vornado Realty Trust			2,769		119,205
					9,756,424
Other Specialized REITs - 3.5%
Four Corners Property Trust, Inc.			102,448		3,043,730
Retail REITs - 15.7%
Acadia Realty Trust			43,781		1,131,739
Agree Realty Corporation			8,690		667,392
Brixmor Property Group, Inc.			3,255		97,878
Curbline Properties Corporation (a)			15,312		371,469
Federal Realty Investment Trust			11,182		1,304,380
Getty Realty Corporation			20,487		673,612
InvenTrust Properties Corporation			9,949		308,120
Kimco Realty Corporation			49,440		1,264,181
Kite Realty Group Trust			25,073		691,263
NETSTREIT Corporation			21,536		349,099
NNN REIT, Inc.			1,744		76,701
Phillips Edison & Company, Inc.			17,528		692,356
Realty Income Corporation			7,654		443,090
Regency Centers Corporation			20,064		1,516,638
Retail Opportunity Investments Corporation			9,300		161,820
Saul Centers, Inc.			2,049		84,234
Simon Property Group, Inc.			13,604		2,497,694
SITE Centers Corporation			7,656		118,821
Tanger, Inc.			26,712		987,543
Urban Edge Properties			4,056		93,329
					13,531,359
Self-Storage REITs - 2.0%
CubeSmart			4,890		242,349
Extra Space Storage, Inc.			3,121		533,566
National Storage Affiliates Trust			4,703		212,105
Public Storage			2,179		758,401
					1,746,421
Single-Family Residential REITs - 5.1%
American Homes 4 Rent - Class A			51,791		1,983,077
Equity LifeStyle Properties, Inc.			8,853		631,485
Invitation Homes, Inc.			20,972		718,291
Sun Communities, Inc.			6,338		800,680
UMH Properties, Inc.			12,401		238,099
					4,371,632
TOTAL COMMON STOCKS (Cost $74,417,268)					86,205,569
TOTAL INVESTMENTS - 99.9% (Cost $74,417,268)					86,205,569
Other Assets in Excess of Liabilities - 0.1% (b)					148,324
TOTAL NET ASSETS - 100.0%
two	–%			$	86,353,893
Percentages are stated as a percent of net assets.					–	%
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

REIT - Real Estate Investment Trust

(a)	Non-income producing security.
(b)	Represents less than 0.05% of net assets.

Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)

U.S. Diversified Real Estate ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2024:

	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	86,205,569	$	–	$	–	$	86,205,569
Total Investments	$	86,205,569	$	–	$	–	$	86,205,569
Refer to the Schedule of Investments for further disaggregation of investment categories.