ETF Series Solutions (HOMZ) NPORT-P Hoya Capital Housing ETF (Nov 2024 report)

Hoya Capital Housing ETF
Schedule of Investments
November 30, 2024 (Unaudited)
COMMON STOCKS - 97.1%	Shares		Value
Home Building Products & Materials - 14.1%
A.O. Smith Corporation		3,586	$	267,121
Beacon Roofing Supply, Inc. (a)		3,128		353,527
Builders FirstSource, Inc. (a)		1,777		331,357
Cavco Industries, Inc. (a)		874		449,673
Century Communities, Inc.		3,624		327,465
Champion Homes, Inc. (a)		4,241		439,919
Eagle Materials, Inc.		1,277		394,491
Installed Building Products, Inc.		1,432		327,556
Leggett & Platt, Inc.		28,572		359,721
Lennox International, Inc.		604		402,946
LGI Homes, Inc. (a)		3,203		350,696
Louisiana-Pacific Corporation		3,382		399,752
Masco Corporation		4,400		354,464
Owens Corning		1,676		344,619
PotlatchDeltic Corporation		7,111		318,857
Rayonier, Inc.		10,308		328,516
Simpson Manufacturing Company, Inc.		1,757		331,019
TopBuild Corporation (a)		743		290,246
Watsco, Inc.		621		342,544
Weyerhaeuser Company		10,066		324,729
				7,039,218
Home Furnishings & Home Goods - 12.8%
Amazon.com, Inc. (a)		1,745		362,768
American Woodmark Corporation (a)		3,541		321,452
AZEK Company, Inc. (a)		6,652		353,354
Carrier Global Corporation		4,802		371,531
Costco Wholesale Corporation		390		379,033
Floor & Decor Holdings, Inc. - Class A (a)		2,765		310,261
La-Z-Boy, Inc.		8,794		398,104
Masterbrand, Inc. (a)		19,400		335,620
Mohawk Industries, Inc. (a)		2,708		375,952
PPG Industries, Inc.		2,399		298,364
RH (a)		1,239		477,188
Sherwin-Williams Company		1,035		411,309
Sleep Number Corporation (a)		23,369		350,535
Tempur Sealy International, Inc.		6,324		354,017
Trex Company, Inc. (a)		3,571		267,932
Wayfair, Inc. - Class A (a)		5,153		238,275
Whirlpool Corporation		3,645		406,126
Williams-Sonoma, Inc.		2,192		377,068
				6,388,889
Home Improvement Retailers - 6.3%
Home Depot, Inc.		3,741		1,605,375
Lowe's Companies, Inc.		5,651		1,539,502
				3,144,877
Homebuilders - 14.7%
DR Horton, Inc.		4,204		709,551
KB Home		8,624		713,550
Lennar Corporation - Class A		3,889		678,203
M/I Homes, Inc. (a)		4,872		804,026
Meritage Homes Corporation		3,482		665,306
NVR, Inc. (a)		82		757,318
PulteGroup, Inc.		5,320		719,636
Taylor Morrison Home Corporation (a)		10,539		778,516
Toll Brothers, Inc.		4,947		817,096
Tri Pointe Homes, Inc. (a)		15,866		690,647
				7,333,849
Mortgage Lenders & Servicers - 9.8%
AGNC Investment Corporation		28,031		270,780
Annaly Capital Management, Inc.		13,871		276,449
Arbor Realty Trust, Inc.		20,211		296,495
Bank of America Corporation		6,806		323,353
Chimera Investment Corporation		23,096		342,745
Citizens Financial Group, Inc.		7,644		367,982
JPMorgan Chase & Company		1,347		336,373
PennyMac Mortgage Investment Trust		19,912		270,604
PNC Financial Services Group, Inc.		1,752		376,190
Rithm Capital Corporation		24,520		275,850
Rocket Cos., Inc. - Class A (a)		19,525		283,698
Starwood Property Trust, Inc.		14,266		290,598
Truist Financial Corporation		7,037		335,524
Two Harbors Investment Corporation		21,497		252,590
UWM Holdings Corporation		37,220		242,302
Wells Fargo & Company		4,488		341,851
				4,883,384
Property, Title & Mortgage Insurance - 5.4%
Allstate Corporation		1,639		339,912
Fidelity National Financial, Inc.		5,325		337,552
First American Financial Corporation		4,922		345,278
MGIC Investment Corporation		13,149		345,293
Old Republic International Corporation		8,579		334,323
Progressive Corporation		1,327		356,804
Radian Group, Inc.		8,633		308,975
Travelers Companies, Inc.		1,267		337,073
				2,705,210
Real Estate Technology, Brokerage & Services - 4.9%
Anywhere Real Estate, Inc. (a)		60,184		294,901
Compass, Inc. - Class A (a)		66,231		469,578
CoStar Group, Inc. (a)		3,145		255,814
RE/MAX Holdings, Inc. - Class A (a)		32,874		432,622
Redfin Corporation (a)		44,961		426,680
Zillow Group, Inc. - Class C (a)		6,811		576,960
				2,456,555
Residential REITs & Real Estate Operators - 29.1%(b)
American Homes 4 Rent - Class A		16,828		644,344
AvalonBay Communities, Inc.		3,114		732,880
Camden Property Trust		5,870		738,446
Centerspace		8,975		650,688
CubeSmart		14,441		715,696
Elme Communities		38,701		655,595
Equity LifeStyle Properties, Inc.		9,831		701,245
Equity Residential		9,255		709,488
Essex Property Trust, Inc.		2,344		727,718
Extra Space Storage, Inc.		4,264		728,974
Independence Realty Trust, Inc.		36,826		804,280
Invitation Homes, Inc.		17,633		603,930
Mid-America Apartment Communities, Inc.		4,565		749,390
NexPoint Residential Trust, Inc.		16,639		783,198
Public Storage		2,233		777,196
Sun Communities, Inc.		5,190		655,653
UDR, Inc.		15,605		715,645
UMH Properties, Inc.		40,479		777,197
Ventas, Inc.		12,800		820,096
Welltower, Inc.		6,028		832,949
				14,524,608
TOTAL COMMON STOCKS (Cost $37,550,156)				48,476,590
SHORT-TERM INVESTMENTS - 0.3%			Value
Money Market Funds - 0.3%	Shares
First American Government Obligations Fund - Class X, 4.56% (c)		137,917		137,917
TOTAL SHORT-TERM INVESTMENTS (Cost $137,917)				137,917
TOTAL INVESTMENTS - 97.4% (Cost $37,688,073)				48,614,507
Other Assets in Excess of Liabilities - 2.6%				1,311,242
TOTAL NET ASSETS - 100.0%			$	49,925,749
two				–	%
Percentages are stated as a percent of net assets.				–	%
The Fund’s security classifications are defined by the Fund’s Adviser.

REIT - Real Estate Investment Trust

(a)	Non-income producing security.
(b)	To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(c)	The rate shown represents the 7-day annualized effective yield as of November 30, 2024.

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

Hoya Capital Housing 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	$	48,476,590	$	–	$	–	$	48,476,590
Money Market Funds		137,917		–		–		137,917
Total Investments	$	48,614,507	$	–	$	–	$	48,614,507
Refer to the Schedule of Investments for further disaggregation of investment categories.