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      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>Global Net Lease Inc</title>
        <cusip>379378300</cusip>
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          <isin value="US3793783008"/>
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      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
        <lei>549300NUYANCT5SU8Z65</lei>
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          <isin value="US3793785086"/>
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      <invstOrSec>
        <name>GRANITE POINT MTGE TRST</name>
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        <name>Healthpeak Properties Inc</name>
        <lei>254900M6MTMZM0I22L81</lei>
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      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
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        <title>Chimera Investment Corp</title>
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          <isin value="US16934Q5053"/>
          <ticker value="CIM"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
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        <title>Chimera Investment Corp</title>
        <cusip>16934Q604</cusip>
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          <isin value="US16934Q6044"/>
          <ticker value="CIM"/>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chimera Investment Corp</name>
        <lei>2JBBQFJOL123LOUBE657</lei>
        <title>Chimera Investment Corp</title>
        <cusip>16934Q802</cusip>
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          <isin value="US16934Q8024"/>
          <ticker value="CIM"/>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clipper Realty Inc</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Highwoods Properties Inc</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>Highwoods Properties Inc</title>
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          <isin value="US4312841087"/>
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        <assetCat>EC</assetCat>
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        <name>HUDSON PACIFIC PROPERTIE</name>
        <lei>529900EURZA5HRSXQ389</lei>
        <title>Hudson Pacific Properties Inc</title>
        <cusip>444097307</cusip>
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          <ticker value="HPP"/>
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      <invstOrSec>
        <name>Innovative Industrial Properti</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>Innovative Industrial Properties Inc</title>
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          <ticker value="IIPR"/>
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        <name>INNOVATIVE INDUSTRIAL</name>
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      <invstOrSec>
        <name>Community Healthcare Trust Inc</name>
        <lei>549300FATSRCMKOV9536</lei>
        <title>Community Healthcare Trust Inc</title>
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          <ticker value="CHCT"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CTO Realty Growth Inc</name>
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        <title>CTO Realty Growth Inc</title>
        <cusip>22948Q101</cusip>
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        <name>Invesco Mortgage Capital Inc</name>
        <lei>PV3BDP2HFZL2FNXQBL39</lei>
        <title>Invesco Mortgage Capital Inc</title>
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        <name>KKR Real Estate Finance Trust</name>
        <lei>549300K23AYZDZ2REL62</lei>
        <title>KKR Real Estate Finance Trust Inc</title>
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        <name>KKR REAL ESTATE FIN</name>
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        <title>KKR Real Estate Finance Trust Inc</title>
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        <name>Lineage Inc</name>
        <lei>N/A</lei>
        <title>Lineage Inc</title>
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        <name>DYNEX CAPITAL INC</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>Dynex Capital Inc</title>
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          <ticker value="DX"/>
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        <name>Dynex Capital Inc</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>Dynex Capital Inc</title>
        <cusip>26817Q886</cusip>
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        <name>NNN REIT Inc</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT Inc</title>
        <cusip>637417106</cusip>
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        <assetCat>EC</assetCat>
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        <name>National Storage Affiliates Tr</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>National Storage Affiliates Trust</title>
        <cusip>637870106</cusip>
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          <ticker value="NSA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Nexpoint Real Estate Finance I</name>
        <lei>254900JOTKRKS0A4UA76</lei>
        <title>Nexpoint Real Estate Finance Inc</title>
        <cusip>65342V101</cusip>
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          <ticker value="NREF"/>
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      <invstOrSec>
        <name>Omega Healthcare Investors Inc</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors Inc</title>
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      <invstOrSec>
        <name>One Liberty Properties Inc</name>
        <lei>549300QII1CQZGZBZR14</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Orchid Island Capital Inc</name>
        <lei>549300KBIHGT19K9DY89</lei>
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        <cusip>68571X301</cusip>
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          <ticker value="ORC"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Park Hotels &amp; Resorts Inc</name>
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        <title>Park Hotels &amp; Resorts Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
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          <isin value="US70509V8037"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Mount Vernon Liquid Assets Portfolio, LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="990VR1110"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Easterly Government Properties</name>
        <lei>549300ERMCEFC6S8HL77</lei>
        <title>Easterly Government Properties Inc</title>
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          <isin value="US27616P3010"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ellington Financial Inc</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Chiron Real Estate Inc</name>
        <lei>549300HFRIPQDYU3GU60</lei>
        <title>Chiron Real Estate Inc</title>
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          <isin value="US37954A3032"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc</title>
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          <isin value="US55272X5086"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MFA Financial Inc</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc</title>
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          <isin value="US55272X6076"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Millrose Properties Inc</name>
        <lei>N/A</lei>
        <title>Millrose Properties Inc</title>
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          <isin value="US6011371027"/>
          <ticker value="MRP"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Modiv Industrial Inc</name>
        <lei>N/A</lei>
        <title>Modiv Industrial Inc</title>
        <cusip>60784B101</cusip>
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          <isin value="US60784B1017"/>
          <ticker value="MDV"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Rithm Capital Corp</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
        <cusip>64828T201</cusip>
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          <isin value="US64828T2015"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
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        <cusip>64828T300</cusip>
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        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
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        <name>RITHM CAPITAL CORP</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>Rithm Capital Corp</title>
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        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc</title>
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        <name>ADAMAS TRUST INC</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc</title>
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        <name>PennyMac Mortgage Investment T</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust</title>
        <cusip>70931T103</cusip>
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          <ticker value="PMT"/>
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        <name>PENNYMAC MTGE INVESTMENT</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust</title>
        <cusip>70931T509</cusip>
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          <ticker value="PMT"/>
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        <name>RLJ Lodging Trust</name>
        <lei>N/A</lei>
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        <cusip>74965L101</cusip>
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        <assetCat>EC</assetCat>
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        <name>Ready Capital Corp</name>
        <lei>549300MYWGZUG7ZUYO87</lei>
        <title>Ready Capital Corp</title>
        <cusip>75574U101</cusip>
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          <isin value="US75574U1016"/>
          <ticker value="RC"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Realty Income Corp</name>
        <lei>549300CUWDAUZSH43859</lei>
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        <name>REDWOOD TRUST INC</name>
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        <name>SL Green Realty Corp</name>
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        <name>Sabra Health Care REIT Inc</name>
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        <name>Saul Centers Inc</name>
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        <name>Seven Hills Realty Trust</name>
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        <name>Starwood Property Trust Inc</name>
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        <name>Sunrise Realty Trust Inc</name>
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        <name>TWO HARBORS INV CORP</name>
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        <name>Two Harbors Investment Corp</name>
        <lei>549300ZUIBT6KH4HU823</lei>
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        <name>Universal Health Realty Income</name>
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        <title>Universal Health Realty Income Trust</title>
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        <name>VICI Properties Inc</name>
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        <name>TPG MORTGAGE INVEST TR</name>
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        <name>TPG Mortgage Investment Trust</name>
        <lei>549300SNP0PBR2XTFR48</lei>
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        <name>ACRES COMMERCIAL REALTY</name>
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        <name>Alexander's Inc</name>
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        <name>Alexandria Real Estate Equitie</name>
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        <name>Alpine Income Property Trust I</name>
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        <name>American Assets Trust Inc</name>
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        <name>Americold Realty Trust Inc</name>
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        <name>Angel Oak Mortgage REIT Inc</name>
        <lei>5493008M8D7W7VZZ7V36</lei>
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        <name>Annaly Capital Management Inc</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management Inc</title>
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          <ticker value="NLY"/>
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        <name>Brandywine Realty Trust</name>
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        <name>Redwood Trust Inc</name>
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        <name>TPG RE Finance Trust Inc</name>
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        <name>TWO HARBORS INV CORP</name>
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        <name>WP Carey Inc</name>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-21</ncom:dateSigned>
      <ncom:nameOfApplicant>ETF Series Solutions</ncom:nameOfApplicant>
      <ncom:signature>/s/ Kyle Kroken</ncom:signature>
      <ncom:signerName>ETF Series Solutions</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
