0001752724-23-121087.txt : 20230526
0001752724-23-121087.hdr.sgml : 20230526
20230526123925
ACCESSION NUMBER: 0001752724-23-121087
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20230331
FILED AS OF DATE: 20230526
DATE AS OF CHANGE: 20230526
PERIOD START: 20230630
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: EntrepreneurShares Series Trust
CENTRAL INDEX KEY: 0001495922
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: NPORT-P
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22436
FILM NUMBER: 23966146
BUSINESS ADDRESS:
STREET 1: C/O WESTON CAPITAL ADVISORS, LLC
STREET 2: 470 ATLANTIC AVENUE, SUITE 400
CITY: BOSTON
STATE: MA
ZIP: 02210
BUSINESS PHONE: 781-239-4446
MAIL ADDRESS:
STREET 1: C/O WESTON CAPITAL ADVISORS, LLC
STREET 2: 470 ATLANTIC AVENUE, SUITE 400
CITY: BOSTON
STATE: MA
ZIP: 02210
0001495922
S000030086
ERShares Global Entrepreneurs
C000092399
Institutional Class
ENTIX
NPORT-P
1
primary_doc.xml
NPORT-P
false
0001495922
XXXXXXXX
S000030086
C000092399
EntrepreneurShares Series Trust
811-22436
0001495922
549300UON6JV1E7QG046
175 Federal Street
Suite 875
Boston
2110
(800) 287-9469
ERSHARES GLOBAL FUND
S000030086
549300DI3Z6CRMK2NK51
2023-06-30
2023-03-31
N
48600052.58
787249.22
47812803.36
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
2483.47
N
Wix.com Limited
5493008P6N29Q1AG9464
Wix.com Ltd.
M98068105
2565.00000000
NS
USD
255987.00000000
0.535394250097
Long
EC
CORP
IL
N
1
N
N
N
Solaredge Technologies Inc
5493000K6Y58XXPDF853
SolarEdge Technologies, Inc.
83417M104
754.00000000
NS
USD
229178.30000000
0.479324122190
Long
EC
CORP
IL
N
1
N
N
N
Valero Energy Corporation
549300XTO5VR8SKV1V74
Valero Energy Corporation
91913Y100
1535.00000000
NS
USD
214286.00000000
0.448177025694
Long
EC
CORP
US
N
1
N
N
N
Teleperformance SE
9695004GI61FHFFNRG61
Teleperformance
F9120F106
1124.00000000
NS
270301.33000000
0.565332528119
Long
EC
CORP
FR
N
1
N
N
N
Essex Bio-Technolo
N/A
Essex Bio-technology Ltd.
G31237103
62000.00000000
NS
30328.82000000
0.063432423678
Long
EC
CORP
HK
N
1
N
N
N
Globus Med Inc
5299003M2P4CIK0RF205
Globus Medical, Inc.
379577208
3646.00000000
NS
USD
206509.44000000
0.431912428236
Long
EC
CORP
US
N
1
N
N
N
Compagnie Financiere Richemont Sa
549300YIPGJ6UX2QPS51
Cie Financiere Richemont S.A.
H25662182
1112.00000000
NS
177354.99000000
0.370936187666
Long
EC
CORP
CH
N
1
N
N
N
Icahn Enterprises LP
549300T0G4GS0SINS786
Icahn Enterprises, L.P.
451100101
1697.00000000
NS
USD
87751.87000000
0.183532158403
Long
EC
CORP
US
N
1
N
N
N
Monster Beverage Corp
52990090AP0E7HCB6F33
Monster Beverage Corporation
61174X109
5416.00000000
NS
USD
292518.16000000
0.611798805850
Long
EC
CORP
US
N
1
N
N
N
Extra Space Storage Inc.
529900SDJHKRQWED6A16
Extra Space Storage, Inc.
30225T102
1108.00000000
NS
USD
180526.44000000
0.377569243620
Long
EC
CORP
US
N
1
N
N
N
Luk Fook Holdings (International) Limited
529900U7PECBLERIIX44
Luk Fook Holdings International Ltd.
G5695X125
35753.00000000
NS
114319.09000000
0.239097233306
Long
EC
CORP
HK
N
2
N
N
N
Mainstreet Equity Corporation
984500FB1BA3F6U3DB35
Mainstreet Equity Corporation
560915100
1548.00000000
NS
149901.22000000
0.313516902306
Long
EC
CORP
CA
N
2
N
N
N
Steel Dynamics, Inc.
549300HGGKEL4FYTTQ83
Steel Dynamics, Inc.
858119100
1469.00000000
NS
USD
166085.14000000
0.347365409113
Long
EC
CORP
US
N
1
N
N
N
Telix Pharmaceutical
N/A
Telix Pharmaceuticals Ltd.
Q8973A105
54451.00000000
NS
251177.90000000
0.525336065548
Long
EC
CORP
AU
N
2
N
N
N
Devon Energy Corporation
54930042348RKR3ZPN35
Devon Energy Corporation
25179M103
3046.00000000
NS
USD
154158.06000000
0.322420040588
Long
EC
CORP
US
N
1
N
N
N
Snowflake Inc
254900CJNSY1K7T53Z16
Snowflake, Inc.
833445109
1358.00000000
NS
USD
209525.82000000
0.438221156836
Long
EC
CORP
US
N
1
N
N
N
Adyen NV
724500973ODKK3IFQ447
Adyen N.V.
00783V104
5766.00000000
NS
USD
91333.44000000
0.191022976235
Long
EC
CORP
NL
N
1
N
N
Oracle Corporation
1Z4GXXU7ZHVWFCD8TV52
Oracle Corporation
68389X105
7112.00000000
NS
USD
660847.04000000
1.382154974315
Long
EC
CORP
US
N
1
N
N
N
Chevron Corporation
N/A
Chevron Corporation
166764100
1690.00000000
NS
USD
275740.40000000
0.576708288622
Long
EC
CORP
US
N
1
N
N
N
Chesapeake Energy Corporation
X2MT1W32SPAZ9WSKLE78
Chesapeake Energy Corporation
165167735
2138.00000000
NS
USD
162573.52000000
0.340020891006
Long
EC
CORP
US
N
1
N
N
N
Monolithic Power Systems Inc.
529900TB7O85LSZ1XU31
Monolithic Power Systems, Inc.
609839105
357.00000000
NS
USD
178692.78000000
0.373734162070
Long
EC
CORP
US
N
1
N
N
N
Topicus Com Inc
N/A
Topicus.com, Inc.
89072T102
4025.00000000
NS
287627.63000000
0.601570311270
Long
EC
CORP
CA
N
1
N
N
N
Netcompany Group AS
5299006DEGAWX1Z1X779
Netcompany Group A/S
K7020C102
5870.00000000
NS
212954.55000000
0.445392311336
Long
EC
CORP
DK
Y
1
N
N
N
SS&C Technologies Holdings Inc.
529900POY8H7NPPNKK71
SS&C Technologies Holdings, Inc.
78467J100
3110.00000000
NS
USD
175621.70000000
0.367311028967
Long
EC
CORP
US
N
1
N
N
N
The Mosaic Company
2YD5STGSJNMUB7H76907
Mosaic Company (The)
61945C103
6691.00000000
NS
USD
306983.08000000
0.642052041350
Long
EC
CORP
US
N
1
N
N
N
Danaher Corporation
S4BKK9OTCEWQ3YHPFM11
Danaher Corporation
235851102
2595.00000000
NS
USD
654043.80000000
1.367926065902
Long
EC
CORP
US
N
1
N
N
N
Shopify Inc
549300HGQ43STJLLP808
Shopify, Inc.
82509L107
5126.00000000
NS
USD
245740.44000000
0.513963672344
Long
EC
CORP
CA
N
1
N
N
N
INVESCO FUNDS
N/A
Invesco Government & Agency Portfolio
825252885
635660.50000000
PA
USD
240900.00000000
0.503839940499
Long
STIV
RF
US
N
1
N
N
Embracer Group AB
549300RFXXKT652HB549
Embracer Group A.B.
W2504N150
29457.00000000
NS
137556.30000000
0.287697625601
Long
EC
CORP
SE
N
1
N
N
N
Zoominfo Technologies Inc
N/A
ZoomInfo Technologies, Inc.
98980F104
7832.00000000
NS
USD
193528.72000000
0.404763382190
Long
EC
CORP
US
N
1
N
N
N
Wisetech Global Ltd.
254900VE3AF301Q85K83
WiseTech Global Ltd.
Q98056106
6656.00000000
NS
289859.50000000
0.606238245052
Long
EC
CORP
AU
N
2
N
N
N
Fairfax Financial Holdings Limited
GLS7OQD0WOEDI8YAP031
Fairfax Financial Holdings Ltd.
303901102
301.00000000
NS
200180.41000000
0.418675325294
Long
EC
CORP
CA
N
1
N
N
N
Linamar Corp
549300LW6VIYFRMFBU20
Linamar Corporation
53278L107
3416.00000000
NS
164364.92000000
0.343767586189
Long
EC
CORP
CA
N
1
N
N
N
MongoDB Inc.
549300TPTG69WKWE1Z37
MongoDB, Inc.
60937P106
913.00000000
NS
USD
212838.56000000
0.445149719411
Long
EC
CORP
US
N
1
N
N
N
Citizens Financial Group Inc
2138004JDDA4ZQUPFW65
Citizens Financial Group, Inc.
174610105
2666.00000000
NS
USD
80966.42000000
0.169340457597
Long
EC
CORP
US
N
1
N
N
N
Entain PLC
213800GNI3K45LQR8L28
Entain plc
G3167C109
22903.00000000
NS
355020.66000000
0.742522159445
Long
EC
CORP
IM
N
1
N
N
N
Fleetcor Technologies Inc
549300DG6RR0NQSFLN74
FleetCor Technologies, Inc.
339041105
1731.00000000
NS
USD
364981.35000000
0.763354842952
Long
EC
CORP
US
N
1
N
N
N
EQT AB
213800U7P9GOIRKCTB34
EQT A.B.
W3R27C102
9632.00000000
NS
195431.16000000
0.408742316422
Long
EC
CORP
SE
Y
1
N
N
N
Inter Parfums Inc
N/A
Inter Parfums, Inc.
458334109
872.00000000
NS
USD
124033.28000000
0.259414364529
Long
EC
CORP
US
N
1
N
N
N
Zscaler Inc
529900MZ0RTK1BWRNF46
Zscaler, Inc.
98980G102
2022.00000000
NS
USD
236230.26000000
0.494073225996
Long
EC
CORP
US
N
1
N
N
N
Twilio Inc
5493004W8TRGD63APX93
Twilio, Inc.
90138F102
3182.00000000
NS
USD
212016.66000000
0.443430723782
Long
EC
CORP
US
N
1
N
N
N
Genmab As
529900MTJPDPE4MHJ122
Genmab A/S
K3967W102
819.00000000
NS
308685.87000000
0.645613409604
Long
EC
CORP
DK
N
1
N
N
N
Omnicom Group Inc
HKUPACFHSSASQK8HLS17
Omnicom Group, Inc.
681919106
4723.00000000
NS
USD
445567.82000000
0.931900638925
Long
EC
CORP
US
N
1
N
N
N
Amazon.com, Inc.
ZXTILKJKG63JELOEG630
Amazon.com, Inc.
023135106
6573.00000000
NS
USD
678925.17000000
1.419965202391
Long
EC
CORP
US
N
1
N
N
N
Ares Management Corporation
529900JUV61FH7B8VW38
Ares Management Corporation
03990B101
1571.00000000
NS
USD
131084.24000000
0.274161376845
Long
EC
CORP
US
N
1
N
N
N
Onex Corp.
894500LB8PNE5C7CEN88
Onex Corporation
68272K103
2259.00000000
NS
105602.30000000
0.220866154207
Long
EC
CORP
CA
N
1
N
N
N
Exelixis, Inc.
254900PJQB59O2O95R37
Exelixis, Inc.
30161Q104
13947.00000000
NS
USD
270711.27000000
0.566189913529
Long
EC
CORP
US
N
1
N
N
N
Seagen Inc
N/A
Seagen, Inc.
81181C104
3037.00000000
NS
USD
614901.39000000
1.286060106892
Long
EC
CORP
US
N
1
N
N
N
Seek Ltd.
549300209NEKXBC8QO27
SEEK Ltd.
Q8382E102
17067.00000000
NS
272925.95000000
0.570821894598
Long
EC
CORP
AU
N
2
N
N
N
Fortescue Metals Group Ltd
529900VEJFORCO6I4826
Fortescue Metals Group Ltd.
Q39360104
16278.00000000
NS
244746.77000000
0.511885421478
Long
EC
CORP
AU
N
2
N
N
N
Costar Group Inc
N/A
CoStar Group, Inc.
22160N109
2454.00000000
NS
USD
168957.90000000
0.353373757919
Long
EC
CORP
US
N
1
N
N
N
Supernus Pharmaceuticals, Inc
549300GRM36VBKISYJ58
Supernus Pharmaceuticals, Inc.
868459108
4596.00000000
NS
USD
166513.08000000
0.348260441343
Long
EC
CORP
US
N
1
N
N
N
Radware Ltd.
N/A
Radware Ltd.
M81873107
3483.00000000
NS
USD
75023.82000000
0.156911569135
Long
EC
CORP
IL
N
1
N
N
N
Zoom Video Communications Inc
549300T9GCHU0ODOM055
Zoom Video Communications, Inc.
98980L101
1997.00000000
NS
USD
147458.48000000
0.308407936028
Long
EC
CORP
US
N
1
N
N
N
Spin Master Corporation
549300JH0ZG8BVEPRY76
Spin Master Corporation
848510103
6344.00000000
NS
176352.61000000
0.368839719922
Long
EC
CORP
CA
Y
1
N
N
N
Royalty Pharma PLC
549300FGFN7VOK8BZR03
Royalty Pharma plc
G7709Q104
7089.00000000
NS
USD
255416.67000000
0.534201410607
Long
EC
CORP
US
N
1
N
N
N
Wilmar International Ltd.
549300H2EAI4YRLWBB20
Wilmar International Ltd.
Y9586L109
123149.00000000
NS
389577.32000000
0.814797068196
Long
EC
CORP
SG
N
1
N
N
N
Daqo New Energy Corp.
529900711JBZ5O7VA827
Daqo New Energy Corporation
23703Q203
2044.00000000
NS
USD
95740.96000000
0.200241260231
Long
EC
CORP
CN
N
1
N
N
N
Bentley Systems Incorporated
549300WVEHPGE0Z56F71
Bentley Systems, Inc.
08265T208
6310.00000000
NS
USD
271266.90000000
0.567352008117
Long
EC
CORP
US
N
1
N
N
N
Amedisys Inc
5299001RBS9GK9STN379
Amedisys, Inc.
023436108
2535.00000000
NS
USD
186449.25000000
0.389956741494
Long
EC
CORP
US
N
1
N
N
N
Synopsys Inc
QG7T915N9S0NY5UKNE63
Synopsys, Inc.
871607107
808.00000000
NS
USD
312090.00000000
0.652733113451
Long
EC
CORP
US
N
1
N
N
N
Palo Alto Networks Inc
549300QXR2YVZV231H43
Palo Alto Networks, Inc.
697435105
1080.00000000
NS
USD
215719.20000000
0.451174549159
Long
EC
CORP
US
N
1
N
N
N
Apple Inc.
HWUPKR0MPOU8FGXBT394
Apple, Inc.
037833100
9591.00000000
NS
USD
1581555.90000000
3.307808346002
Long
EC
CORP
US
N
1
N
N
N
Pinnacle Financial Partners Inc
54930098EZ8JMSAZGS24
Pinnacle Financial Partners, Inc.
72346Q104
1889.00000000
NS
USD
104197.24000000
0.217927485270
Long
EC
CORP
US
N
1
N
N
N
Starbucks Corporation
OQSJ1DU9TAOC51A47K68
Starbucks Corporation
855244109
2117.00000000
NS
USD
220443.21000000
0.461054768824
Long
EC
CORP
US
N
1
N
N
N
Gmo Internet Group Inc.
529900BFZEY3BESHBW90
GMO internet group, Inc.
J1822R104
9504.00000000
NS
183756.26000000
0.384324379845
Long
EC
CORP
JP
N
1
N
N
N
Hargreaves Lansdown PLC
2138008ZCE93ZDSESG90
Hargreaves Lansdown plc
G43940108
15851.00000000
NS
156321.80000000
0.326945481156
Long
EC
CORP
GB
N
1
N
N
N
E L F Beauty Inc
549300U2K9TCON25C029
elf Beauty, Inc.
26856L103
4170.00000000
NS
USD
343399.50000000
0.718216619541
Long
EC
CORP
US
N
1
N
N
N
Cognex Corp
549300JQTYZCLC43S226
Cognex Corporation
192422103
3257.00000000
NS
USD
161384.35000000
0.337533753845
Long
EC
CORP
US
N
1
N
N
N
Catalyst Pharmaceuticals Inc.
5299004O0R5XXLA5H544
Catalyst Pharmaceuticals, Inc.
14888U101
15598.00000000
NS
USD
258614.84000000
0.540890351173
Long
EC
CORP
US
N
1
N
N
N
Kinder Morgan, Inc.
549300WR7IX8XE0TBO16
Kinder Morgan, Inc.
49456B101
9661.00000000
NS
USD
169164.11000000
0.353805044072
Long
EC
CORP
US
N
1
N
N
N
Microchip Technology Incorporated
5493007PTFULNYZJ1R12
Microchip Technology, Inc.
595017104
2988.00000000
NS
USD
250334.64000000
0.523572395693
Long
EC
CORP
US
N
1
N
N
N
Sensirion Holding AG
8945003M3YNIE0AWEM05
Sensirion Holding A.G.
H7448F129
1442.00000000
NS
157633.53000000
0.329688951331
Long
EC
CORP
CH
Y
1
N
N
N
Copart Inc
549300KVYX3JWMYEHU61
Copart, Inc.
217204106
2136.00000000
NS
USD
160648.56000000
0.335994856420
Long
EC
CORP
US
N
1
N
N
N
Paycom Software Inc
254900LSB0HNJUDC6Q18
Paycom Software, Inc.
70432V102
1173.00000000
NS
USD
356603.73000000
0.745833134516
Long
EC
CORP
US
N
1
N
N
N
Cintas Corporation
N/A
Cintas Corporation
172908105
204.00000000
NS
USD
94386.72000000
0.197408880816
Long
EC
CORP
US
N
1
N
N
N
The TJX Companies Inc.
V167QI9I69W364E2DY52
TJX Companies, Inc. (The)
872540109
2329.00000000
NS
USD
182500.44000000
0.381697844876
Long
EC
CORP
US
N
1
N
N
N
Sinch AB (publ)
549300UXY7QM6IDCGI12
Sinch A.B.
W835AF448
17102.00000000
NS
45936.58000000
0.096075897608
Long
EC
CORP
SE
Y
1
N
N
N
TechnologyOne Ltd.
875500YEWBJIM91P9N12
Technology One Ltd.
Q89275103
33491.00000000
NS
325550.97000000
0.680886597568
Long
EC
CORP
AU
N
2
N
N
N
Futu Holdings Ltd.
213800X4W4ZRESFPTQ37
Futu Holdings Ltd.
36118L106
5350.00000000
NS
USD
277397.50000000
0.580174096698
Long
EC
CORP
CN
N
1
N
N
N
Bosideng International Holdings Ltd.
254900G7F1RDM4B3S169
Bosideng International Holdings Ltd.
G12652106
444476.00000000
NS
248001.89000000
0.518693472400
Long
EC
CORP
HK
N
2
N
N
N
Partners Group Holding AG
549300I3IVVWZWDHI788
Partners Group Holding A.G.
H6120A101
174.00000000
NS
162971.64000000
0.340853555004
Long
EC
CORP
CH
N
1
N
N
N
Shockwave Medical Inc.
549300LDXO56IC5Y1538
Shockwave Medical, Inc.
82489T104
984.00000000
NS
USD
213360.72000000
0.446241811829
Long
EC
CORP
US
N
1
N
N
N
Vertex Pharmaceuticals Incorporated
54930015RAQRRZ5ZGJ91
Vertex Pharmaceuticals, Inc.
92532F100
1125.00000000
NS
USD
354453.75000000
0.741336472850
Long
EC
CORP
US
N
1
N
N
N
Digital Bros Spa
815600D581F8552C4F54
Digital Bros SpA
T3520V105
6448.00000000
NS
145340.54000000
0.303978285702
Long
EC
CORP
IT
N
2
N
N
N
The Trade Desk Inc
549300GXPD31VT3E0P46
Trade Desk, Inc. (The)
88339J105
3411.00000000
NS
USD
207764.01000000
0.434536348842
Long
EC
CORP
US
N
1
N
N
N
Walgreens Boots Alliance, Inc.
549300RPTUOIXG4LIH86
Walgreens Boots Alliance, Inc.
931427108
3043.00000000
NS
USD
105226.94000000
0.220081092521
Long
EC
CORP
US
N
1
N
N
N
Block Inc
549300OHIIUWSTIZME52
Block, Inc.
852234103
1516.00000000
NS
USD
104073.40000000
0.217668475149
Long
EC
CORP
US
N
1
N
N
N
Chipotle Mexican Grill Inc
N/A
Chipotle Mexican Grill, Inc.
169656105
114.00000000
NS
USD
194745.06000000
0.407307345134
Long
EC
CORP
US
N
1
N
N
N
Danone SA
969500KMUQ2B6CBAF162
Danone S.A.
23636T100
17169.00000000
NS
USD
214097.43000000
0.447782633425
Long
EC
CORP
FR
N
1
N
N
N
BlackRock, Inc.
549300LRIF3NWCU26A80
BlackRock, Inc.
09247X101
353.00000000
NS
USD
236199.36000000
0.494008598955
Long
EC
CORP
US
N
1
N
N
N
Western Alliance Bancorporation
5493003VJXZ5JXT9S762
Western Alliance Bancorp
957638109
2231.00000000
NS
USD
79289.74000000
0.165833698147
Long
EC
CORP
US
N
1
N
N
N
Cimpress PLC
549300X1IFD75XISOR81
Cimpress plc
G2143T103
5170.00000000
NS
USD
226549.40000000
0.473825804134
Long
EC
CORP
IE
N
1
N
N
N
Mercadolibre Inc
549300DKPDN9M5S8GB14
MercadoLibre, Inc.
58733R102
181.00000000
NS
USD
238568.86000000
0.498964384505
Long
EC
CORP
AR
N
1
N
N
N
Flight Centre Travel Group Ltd.
254900BGNUI78EKEJY68
Flight Centre Travel Group Ltd.
Q39175106
27630.00000000
NS
341357.40000000
0.713945587816
Long
EC
CORP
AU
N
2
N
N
N
Medical Properties Trust Inc.
254900U6E39J1MQCCY14
Medical Properties Trust, Inc.
58463J304
15835.00000000
NS
USD
130163.70000000
0.272236076642
Long
EC
CORP
US
N
1
N
N
Delivery Hero SE
529900C3EX1FZGE48X78
Delivery Hero S.E.
D1T0KZ103
3490.00000000
NS
118756.16000000
0.248377320831
Long
EC
CORP
DE
Y
2
N
N
N
Tesla Inc
54930043XZGB27CTOV49
Tesla, Inc.
88160R101
1410.00000000
NS
USD
292518.60000000
0.611799726105
Long
EC
CORP
US
N
1
N
N
N
Check Point Software Technologies Ltd.
2549003ZVBH73EPNS513
Check Point Software Technologies Ltd.
M22465104
1655.00000000
NS
USD
215150.00000000
0.449984073052
Long
EC
CORP
IL
N
1
N
N
N
Value Partners Gp
549300RYVTCSHFKXHB81
Value Partners Group Ltd.
G93175100
335995.00000000
NS
107005.32000000
0.223800556504
Long
EC
CORP
HK
N
2
N
N
N
NagaCorp Ltd.
549300MMNKN0RBJELS20
NagaCorp Ltd.
G6382M109
660982.00000000
NS
515315.98000000
1.077778217938
Long
EC
CORP
KY
N
2
N
N
N
Techtronic Industries Co. Ltd.
549300HZW2SBE758OK89
Techtronic Industries Company Ltd.
Y8563B159
34252.00000000
NS
370228.92000000
0.774330083121
Long
EC
CORP
HK
N
2
N
N
N
Workday Inc
549300J0DYC0N31V7G13
Workday, Inc.
98138H101
1562.00000000
NS
USD
322615.48000000
0.674747049594
Long
EC
CORP
US
N
1
N
N
N
Cloudflare Inc
5493007DY18BGNLDWU14
Cloudflare, Inc.
18915M107
3030.00000000
NS
USD
186829.80000000
0.390752658013
Long
EC
CORP
US
N
1
N
N
N
ResMed Inc.
529900T3QE5253CCXF22
ResMed, Inc.
761152107
1515.00000000
NS
USD
331769.85000000
0.693893322886
Long
EC
CORP
US
N
1
N
N
N
VMware Inc
549300BUDHS3LRWBE814
VMware, Inc.
928563402
4882.00000000
NS
USD
609517.70000000
1.274800173105
Long
EC
CORP
US
N
1
N
N
N
W & T Offshore Inc.
549300Q7EOY2YIO3YK85
W&T Offshore, Inc.
92922P106
31701.00000000
NS
USD
161041.08000000
0.336815808074
Long
EC
CORP
US
N
1
N
N
N
Alphabet Inc.
5493006MHB84DD0ZWV18
Alphabet, Inc.
02079K305
9900.00000000
NS
USD
1026927.00000000
2.147807549094
Long
EC
CORP
US
N
1
N
N
N
Masimo Corporation
549300Q4A8JK0PIYCU29
Masimo Corporation
574795100
2912.00000000
NS
USD
537380.48000000
1.123925898997
Long
EC
CORP
US
N
1
N
N
N
Herbalife Nutrition Ltd
549300BA7TYPBSZZIA41
Herbalife Nutrition Ltd.
G4412G101
11674.00000000
NS
USD
187951.40000000
0.393098473195
Long
EC
CORP
US
N
1
N
N
N
Advance Auto Parts Inc.
529900UCNQ5H9FSL0Y70
Advance Auto Parts, Inc.
00751Y106
461.00000000
NS
USD
56062.21000000
0.117253551476
Long
EC
CORP
US
N
1
N
N
N
Alexandria Real Estate Equities, Inc.
MGCJBT4MKTQBVLNUIS88
Alexandria Real Estate Equities, Inc.
015271109
1632.00000000
NS
USD
204962.88000000
0.428677813465
Long
EC
CORP
US
N
1
N
N
N
Fortinet Inc
549300O0QJWDBAS0QX03
Fortinet, Inc.
34959E109
4399.00000000
NS
USD
292357.54000000
0.611462870726
Long
EC
CORP
US
N
1
N
N
N
Daily Money Fund
Z2ZIGDKL3355UQRAKY22
Fidelity Treasury Only Portfolio Class I
233809300
3361500.74000000
PA
USD
3361500.74000000
7.030545175713
Long
STIV
RF
US
N
1
N
N
N
Evolution AB
549300SUH6ZR1RF6TA88
Evolution A.B.
W3287P115
4269.00000000
NS
570948.79000000
1.194133683610
Long
EC
CORP
SE
Y
1
N
N
N
Meta Platforms Inc
BQ4BKCS1HXDV9HN80Z93
Meta Platforms, Inc.
30303M102
3619.00000000
NS
USD
767010.86000000
1.604195541986
Long
EC
CORP
US
N
1
N
N
N
Ubisoft Entertainment S.A.
969500I7C8V1LBIMSM05
Ubisoft Entertainment S.A.
F9396N106
2880.00000000
NS
76412.63000000
0.159816251359
Long
EC
CORP
FR
N
1
N
N
N
Richelieu Hardware
5493007VPNETW465DN04
Richelieu Hardware Ltd.
76329W103
9152.00000000
NS
252852.85000000
0.528839206720
Long
EC
CORP
CA
N
1
N
N
N
Super Micro Computer Inc.
54930022CZO1N2UGVW07
Super Micro Computer, Inc.
86800U104
1743.00000000
NS
USD
185716.65000000
0.388424515922
Long
EC
CORP
US
N
1
N
N
N
Intercontinental Exchange Inc
5493000F4ZO33MV32P92
Intercontinental Exchange, Inc.
45866F104
2055.00000000
NS
USD
214315.95000000
0.448239665819
Long
EC
CORP
US
N
1
N
N
N
Enphase Energy Inc
5493008U7KIGMI59Z314
Enphase Energy, Inc.
29355A107
1222.00000000
NS
USD
256962.16000000
0.537433787484
Long
EC
CORP
US
N
1
N
N
N
Kingsoft Corp
529900UVT35D3Q7YQY41
Kingsoft Corp Ltd.
G5264Y108
51538.00000000
NS
253752.08000000
0.530719937271
Long
EC
CORP
CN
N
2
N
N
N
Regeneron Pharmaceuticals, Inc.
549300RCBFWIRX3HYQ56
Regeneron Pharmaceuticals, Inc.
75886F107
614.00000000
NS
USD
504505.38000000
1.055167956167
Long
EC
CORP
US
N
1
N
N
N
Salesforce Inc
RCGZFPDMRW58VJ54VR07
Salesforce, Inc.
79466L302
3675.00000000
NS
USD
734191.50000000
1.535554178808
Long
EC
CORP
US
N
1
N
N
N
Ulta Beauty Inc
529900CIV6HN8M28YM82
Ulta Beauty, Inc.
90384S303
763.00000000
NS
USD
416346.21000000
0.870783933887
Long
EC
CORP
US
N
1
N
N
N
The Charles Schwab Corporation
549300VSGCJ7E698NM85
Charles Schwab Corporation (The)
808513105
2297.00000000
NS
USD
120316.86000000
0.251641509271
Long
EC
CORP
US
N
1
N
N
N
Spotify Technology S.A.
549300B4X0JHWV0DTD60
Spotify Technology S.A.
L8681T102
2400.00000000
NS
USD
320688.00000000
0.670715744453
Long
EC
CORP
SE
N
1
N
N
N
NIO Inc.
549300JBU4TV5OCKJV96
NIO, Inc.
62914V106
14226.00000000
NS
USD
149515.26000000
0.312709670826
Long
EC
CORP
CN
N
1
N
N
N
Okta Inc.
549300N8J06I8MRHU620
Okta, Inc.
679295105
4397.00000000
NS
USD
379197.28000000
0.793087318358
Long
EC
CORP
US
N
1
N
N
N
QUALCOMM Inc.
H1J8DDZKZP6H7RWC0H53
QUALCOMM, Inc.
747525103
2383.00000000
NS
USD
304023.14000000
0.635861356446
Long
EC
CORP
US
N
1
N
N
N
Hikma Pharmaceuticals PLC
549300BNS685UXH4JI75
Hikma Pharmaceuticals plc
G4576K104
15836.00000000
NS
327234.48000000
0.684407641894
Long
EC
CORP
JO
N
1
N
N
N
Crowdstrike Holdings Inc
549300YBY08K9KM4HX32
Crowdstrike Holdings, Inc.
22788C105
1895.00000000
NS
USD
260107.70000000
0.544012652932
Long
EC
CORP
US
N
1
N
N
N
Jazz Pharmaceuticals PLC
635400GAUMJCLEZRRV50
Jazz Pharmaceuticals plc
G50871105
4910.00000000
NS
USD
718480.30000000
1.502694361153
Long
EC
CORP
IE
N
1
N
N
N
Niu Technologies
549300NJKNSC80EVQ065
Niu Technologies
65481N100
12570.00000000
NS
USD
52039.80000000
0.108840721193
Long
EC
CORP
CN
N
1
N
N
N
FinVolution Group
3003000RAVUT809U6P08
FinVolution Group
31810T101
23252.00000000
NS
USD
96960.84000000
0.202792627050
Long
EC
CORP
CN
N
1
N
N
N
Playtika Holding Corp
254900E35Z4TKA4UFG64
Playtika Holding Corporation
72815L107
15004.00000000
NS
USD
168945.04000000
0.353346861358
Long
EC
CORP
IL
N
1
N
N
N
First Majestic Silver Corp.
529900PWCU5DUH1DYR51
First Majestic Silver Corporation
32076V103
7868.00000000
NS
56760.54000000
0.118714101686
Long
EC
CORP
CA
N
1
N
N
N
Airbnb Inc
549300HMUDNO0RY56D37
Airbnb, Inc.
009066101
1784.00000000
NS
USD
221929.60000000
0.464163538642
Long
EC
CORP
US
N
1
N
N
N
FirstService Corp.
5493000XUDIV75BCF118
FirstService Corporation
33767E202
767.00000000
NS
108070.77000000
0.226028934522
Long
EC
CORP
CA
N
1
N
N
N
United Therapeutics Corporation
5299005C4HZL4UWROC14
United Therapeutics Corporation
91307C102
2107.00000000
NS
USD
471883.72000000
0.986940080561
Long
EC
CORP
US
N
1
N
N
N
Universal Health Services, Inc.
549300YGMGQDO0NMJD09
Universal Health Services, Inc.
913903100
1922.00000000
NS
USD
244286.20000000
0.510922143930
Long
EC
CORP
US
N
1
N
N
N
Weimob Inc.
254900SW0TNGAGYUTV05
Weimob, Inc.
G9T20A106
274851.00000000
NS
170163.40000000
0.355895049112
Long
EC
CORP
CN
Y
2
N
N
N
Vermilion Energy Inc.
WT03B8BB1IX8WI9ZGV02
Vermilion Energy, Inc.
923725105
12520.00000000
NS
USD
162384.40000000
0.339625348418
Long
EC
RF
CA
N
1
N
N
N
Bilibili Inc
5493008V60M52L3PIS45
Bilibili, Inc.
090040106
6502.00000000
NS
USD
152797.00000000
0.319573397212
Long
EC
CORP
CN
N
1
N
N
Arista Networks Inc
635400H1WKBLOQERUU95
Arista Networks, Inc.
040413106
1341.00000000
NS
USD
225100.26000000
0.470794942319
Long
EC
CORP
US
N
1
N
N
N
Constellation Brands, Inc.
5493005GKEG8QCVY7037
Constellation Brands, Inc.
21036P108
896.00000000
NS
USD
202397.44000000
0.423312221364
Long
EC
CORP
US
N
1
N
N
N
Sino Biopharmaceutical Limited
529900LPR4ADFEJAR786
Sino Biopharmaceutical Ltd.
G8167W138
240917.00000000
NS
135036.97000000
0.282428472104
Long
EC
CORP
HK
N
2
N
N
N
Yadea Group Holdings Ltd
N/A
Yadea Group Holdings Ltd.
G9830F106
243004.00000000
NS
626860.65000000
1.311072779565
Long
EC
CORP
CN
Y
2
N
N
N
Juniper Networks, Inc.
AUHIXNGG7U2U7JEHM527
Juniper Networks, Inc.
48203R104
12705.00000000
NS
USD
437306.10000000
0.914621334179
Long
EC
CORP
US
N
1
N
N
N
Apollo Global Management Inc
N/A
Apollo Global Management, Inc.
03769M106
3459.00000000
NS
USD
218470.44000000
0.456928740101
Long
EC
CORP
US
N
1
N
N
N
Beigene Limited
549300JFUK6FRD5MH739
BeiGene Ltd.
07725L102
1488.00000000
NS
USD
320708.64000000
0.670758912806
Long
EC
CORP
CN
N
1
N
N
Veeva Systems Inc
549300YZEXPDB92M2F02
Veeva Systems, Inc.
922475108
3480.00000000
NS
USD
639589.20000000
1.337694414578
Long
EC
CORP
US
N
1
N
N
N
NVIDIA Corp.
549300S4KLFTLO7GSQ80
NVIDIA Corporation
67066G104
2976.00000000
NS
USD
826643.52000000
1.728916653926
Long
EC
CORP
US
N
1
N
N
N
Blackstone Inc
5299004LW4QWGZUB8Y96
Blackstone, Inc.
09260D107
3303.00000000
NS
USD
290135.52000000
0.606815538121
Long
EC
CORP
US
N
1
N
N
N
CRISPR Therapeutics AG
506700O6IRRIQLT3W370
CRISPR Therapeutics A.G.
H17182108
2513.00000000
NS
USD
113662.99000000
0.237725006718
Long
EC
CORP
CH
N
1
N
N
N
Sea Ltd.
529900OM6JLLW44YKI15
Sea Ltd.
81141R100
4234.00000000
NS
USD
366452.70000000
0.766432156761
Long
EC
CORP
SG
N
1
N
N
N
Costco Wholesale Corporation
29DX7H14B9S6O3FD6V18
Costco Wholesale Corporation
22160K105
162.00000000
NS
USD
80492.94000000
0.168350178913
Long
EC
CORP
US
N
1
N
N
N
DISH Network Corporation
529900U350CWHH15G169
DISH Network Corporation
25470M109
10784.00000000
NS
USD
100614.72000000
0.210434680523
Long
EC
CORP
US
N
1
N
N
N
First Quantum Minerals Ltd.
549300I7UVBGWRYMYZ18
First Quantum Minerals Ltd.
335934105
3033.00000000
NS
69725.43000000
0.145830039445
Long
EC
CORP
CA
N
1
N
N
N
Microsoft Corporation
INR2EJN1ERAN0W5ZP974
Microsoft Corporation
594918104
4319.00000000
NS
USD
1245167.70000000
2.604255790284
Long
EC
CORP
US
N
1
N
N
N
Roku Inc
549300KR6ITU0YIR1T71
Roku, Inc.
77543R102
4439.00000000
NS
USD
292174.98000000
0.611081048312
Long
EC
CORP
US
N
1
N
N
N
Enstar Group Ltd
213800AMAL5QFXVUCN04
Enstar Group Ltd.
G3075P101
1130.00000000
NS
USD
261922.70000000
0.547808707278
Long
EC
CORP
BM
N
1
N
N
N
HCA Healthcare Inc
529900PH4ZGUH2MNEU89
HCA Healthcare, Inc.
40412C101
1930.00000000
NS
USD
508902.40000000
1.064364279517
Long
EC
CORP
US
N
1
N
N
N
Gambling.Com Group Limited
N/A
Gambling.com Group Ltd.
G3R239101
24301.00000000
NS
USD
240822.91000000
0.503678707535
Long
EC
CORP
JE
N
1
N
N
N
Verbio AG
529900W51PINCFFALS96
VERBIO Vereinigte BioEnergie A.G.
D86145105
1823.00000000
NS
85464.87000000
0.178748920778
Long
EC
CORP
DE
N
2
N
N
N
Capital One Financial Corporation
ZUE8T73ROZOF6FLBAR73
Capital One Financial Corporation
14040H105
1245.00000000
NS
USD
119719.20000000
0.250391509359
Long
EC
CORP
US
N
1
N
N
N
Antofagasta PLC
213800MY6QVH4FVLD628
Antofagasta plc
G0398N128
8908.00000000
NS
173744.41000000
0.363384695709
Long
EC
CORP
CL
N
1
N
N
N
Xinyi Glass Holdings Ltd.
52990082YXVVZFK1QJ17
Xinyi Glass Holdings Ltd.
G9828G108
181986.00000000
NS
325953.66000000
0.681728819675
Long
EC
CORP
HK
N
2
N
N
N
EPAM Systems Inc.
549300XCR4R530HJP604
EPAM Systems, Inc.
29414B104
723.00000000
NS
USD
216177.00000000
0.452132033280
Long
EC
CORP
US
N
1
N
N
N
2023-03-31
EntrepreneurShares Series Trust
Gregory Knoth
Gregory Knoth
SVP, Mutual Fund Controller
XXXX
NPORT-EX
2
ultimus_1235.htm
ERShares
Global
Entrepreneuers
Schedule
of
Investments
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
Shares
Fair
Value
Argentina
—
0.50%
Consumer
Discretionary
—
0.50%
MercadoLibre,
Inc.
(a)
181
$
238,569
Total
Argentina
238,569
Australia
—
3.61%
Communications
—
0.57%
SEEK
Ltd.
17,067
272,926
Consumer
Discretionary
—
0.71%
Flight
Centre
Travel
Group
Ltd.
(a)
27,630
341,357
Health
Care
—
0.53%
Telix
Pharmaceuticals
Ltd.
(a)
54,451
251,178
Materials
—
0.51%
Fortescue
Metals
Group
Ltd.
16,278
244,747
Technology
—
1.29%
Technology
One
Ltd.
33,491
325,550
WiseTech
Global
Ltd.
6,656
289,860
615,410
Total
Australia
1,725,618
Bermuda
—
0.79%
Consumer
Discretionary
—
0.24%
Luk
Fook
Holdings
International
Ltd.
35,753
114,319
Financials
—
0.55%
Enstar
Group,
Ltd.
(a)
1,130
261,923
Total
Bermuda
376,242
Canada
—
4.14%
Communications
—
0.51%
Shopify,
Inc.,
Class
A
(a)
5,126
245,740
Consumer
Discretionary
—
1.24%
Linamar
Corp.
3,416
164,365
Richelieu
Hardware
Ltd.
9,152
252,853
Spin
Master
Corp.
6,344
176,353
593,571
Energy
—
0.34%
Vermilion
Energy,
Inc.
12,520
162,384
Financials
—
0.64%
Fairfax
Financial
Holdings
Ltd.
301
200,180
Onex
Corp.
2,259
105,602
305,782
Materials
—
0.26%
First
Majestic
Silver
Corp.
7,868
56,761
First
Quantum
Minerals
Ltd.
3,033
69,725
126,486
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
Canada
—
4.14%
(continued)
Real
Estate
—
0.54%
FirstService
Corp.
767
$
108,071
Mainstreet
Equity
Corp.
(a)
1,548
149,901
257,972
Technology
—
0.61%
Topicus.com,
Inc.
(a)
4,025
287,629
Total
Canada
1,979,564
Cayman
Islands
—
3.95%
Consumer
Discretionary
—
2.40%
NagaCorp
Ltd.
(a)
660,982
515,316
Yadea
Group
Holdings
Ltd.
243,004
626,861
1,142,177
Consumer
Staples
—
0.39%
Herbalife
Nutrition
Ltd.
(a)
11,674
187,951
Financials
—
0.42%
FinVolution
Group
-
ADR
23,252
96,961
Value
Partners
Group
Ltd.
335,995
107,005
203,966
Health
Care
—
0.06%
Essex
Bio-Technology
Ltd.
62,000
30,329
Materials
—
0.68%
Xinyi
Glass
Holdings
Ltd.
181,986
325,954
Total
Cayman
Islands
1,890,377
China
—
3.88%
Communications
—
0.68%
Bilibili,
Inc.
-
ADR
(a)(b)
6,502
152,797
Weimob,
Inc.
(a)
274,851
170,163
322,960
Consumer
Discretionary
—
0.94%
Bosideng
International
Holdings,
Ltd.
444,476
248,002
NIO,
Inc.
-
ADR
(a)
14,226
149,515
NIU
Technologies
-
ADR
(a)
12,570
52,040
449,557
Energy
—
0.20%
Daqo
New
Energy
Corp.
-
ADR
(a)
2,044
95,741
Financials
—
0.58%
Futu
Holdings
Ltd.
-
ADR
(a)
5,350
277,398
Health
Care
—
0.95%
BeiGene
Ltd.
-
ADR
(a)(b)
1,488
320,709
Sino
Biopharmaceutical
Ltd.
240,917
135,037
455,746
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
China
—
3.88%
(continued)
Technology
—
0.53%
Kingsoft
Corp.
Ltd.
51,538
$
253,752
Total
China
1,855,154
Denmark
—
1.09%
Health
Care
—
0.64%
Genmab
A/S
(a)
819
308,685
Technology
—
0.45%
Netcompany
Group
A/S
(a)
5,870
212,955
Total
Denmark
521,640
France
—
1.18%
Communications
—
0.16%
Ubisoft
Entertainment
S.A.
(a)
2,880
76,413
Consumer
Staples
—
0.45%
Danone
S.A.
-
ADR
17,169
214,097
Technology
—
0.57%
Teleperformance
1,124
270,301
Total
France
560,811
Germany
—
0.43%
Communications
—
0.25%
Delivery
Hero
S.E.
(a)
3,490
118,756
Energy
—
0.18%
VERBIO
Vereinigte
BioEnergie
AG
1,823
85,465
Total
Germany
204,221
Hong
Kong
—
0.77%
Industrials
—
0.77%
Techtronic
Industries
Co.
Ltd.
34,252
370,229
Total
Hong
Kong
370,229
Ireland
—
1.98%
Health
Care
—
1.51%
Jazz
Pharmaceuticals
PLC
(a)
4,910
718,481
Industrials
—
0.47%
Cimpress
PLC
(a)
5,170
226,549
Total
Ireland
945,030
Isle
Of
Man
—
0.74%
Consumer
Discretionary
—
0.74%
Entain
PLC
22,903
355,021
Total
Isle
Of
Man
355,021
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
Israel
—
1.62%
Communications
—
0.53%
Wix.com
Ltd.
(a)
2,565
$
255,987
Energy
—
0.48%
SolarEdge
Technologies,
Inc.
(a)
754
229,178
Technology
—
0.61%
Check
Point
Software
Technologies
Ltd.
(a)
1,655
215,150
Radware
Ltd.
(a)
3,483
75,024
290,174
Total
Israel
775,339
Italy
—
0.30%
Communications
—
0.30%
Digital
Bros
SpA
6,448
145,341
Total
Italy
145,341
Japan
—
0.38%
Communications
—
0.38%
GMO
internet,
Inc.
9,504
183,756
Total
Japan
183,756
Jersey
—
0.50%
Communications
—
0.50%
Gambling.com
Group
Ltd.
(a)
24,301
240,823
Total
Jersey
240,823
Luxembourg
—
0.67%
Communications
—
0.67%
Spotify
Technology
SA
(a)
2,400
320,688
Total
Luxembourg
320,688
Netherlands
—
0.19%
Technology
—
0.19%
Adyen
NV
-
ADR
(a)(b)
5,766
91,333
Total
Netherlands
91,333
Singapore
—
1.58%
Communications
—
0.77%
Sea
Ltd.
-
ADR
(a)
4,234
366,453
Consumer
Staples
—
0.81%
Wilmar
International
Ltd.
123,149
389,577
Total
Singapore
756,030
Sweden
—
1.99%
Communications
—
0.29%
Embracer
Group
A.B.
(a)
29,457
137,556
Consumer
Discretionary
—
1.19%
Evolution
Gaming
Group
A.B.
4,269
570,949
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
Sweden
—
1.99%
(continued)
Financials
—
0.41%
EQT
A.B.
9,632
$
195,431
Technology
—
0.10%
Sinch
A.B.
(a)
17,102
45,937
Total
Sweden
949,873
Switzerland
—
1.28%
Consumer
Discretionary
—
0.37%
Cie
Financiere
Richemont
SA
1,112
177,354
Financials
—
0.34%
Partners
Group
Holding
AG
174
162,972
Health
Care
—
0.24%
CRISPR
Therapeutics
AG
(a)
2,513
113,663
Technology
—
0.33%
Sensirion
Holding
AG
(a)
1,442
157,634
Total
Switzerland
611,623
United
Kingdom
—
1.37%
Financials
—
0.33%
Hargreaves
Lansdown
PLC
15,851
156,322
Health
Care
—
0.68%
Hikma
Pharmaceuticals
PLC
15,836
327,235
Materials
—
0.36%
Antofagasta
PLC
8,908
173,744
Total
United
Kingdom
657,301
United
States
—
61.50%
Communications
—
7.16%
Airbnb,
Inc.,
Class
A
(a)
1,784
221,930
Alphabet,
Inc.,
Class
A
(a)
9,900
1,026,926
DISH
Network
Corp.,
Class
A
(a)
10,784
100,615
Meta
Platforms,
Inc.,
Class
A
(a)
3,619
767,011
Omnicom
Group,
Inc.
4,723
445,568
Playtika
Holding,
Corp.
(a)
15,004
168,945
Roku,
Inc.
(a)
4,439
292,175
Trade
Desk,
Inc.
(The),
Class
A
(a)
3,411
207,764
ZoomInfo
Technologies,
Inc.,
Class
A
(a)
7,832
193,529
3,424,463
Consumer
Discretionary
—
4.61%
Advance
Auto
Parts,
Inc.
461
56,062
Amazon.com,
Inc.
(a)
6,573
678,925
Chipotle
Mexican
Grill,
Inc.
(a)
114
194,745
Copart,
Inc.
(a)
2,136
160,649
Starbucks
Corp.
2,117
220,443
Tesla,
Inc.
(a)
1,410
292,519
TJX
Companies,
Inc.
(The)
2,329
182,500
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
United
States
—
61.50%
(continued)
Consumer
Discretionary
—
4.61%
(continued)
Ulta
Beauty,
Inc.
(a)
763
$
416,347
2,202,190
Consumer
Staples
—
2.41%
Constellation
Brands,
Inc.,
Class
A
896
202,397
Costco
Wholesale
Corp.
162
80,493
e.l.f.
Beauty,
Inc.
(a)
4,170
343,400
Inter
Parfums,
Inc.
872
124,033
Monster
Beverage
Corp.
(a)
5,416
292,519
Walgreens
Boots
Alliance,
Inc.
3,043
105,227
1,148,069
Energy
—
2.92%
Chesapeake
Energy
Corp.
2,138
162,574
Chevron
Corp.
1,690
275,740
Devon
Energy
Corp.
3,046
154,158
Enphase
Energy,
Inc.
(a)
1,222
256,962
Kinder
Morgan,
Inc.
9,661
169,164
Valero
Energy
Corp.
1,535
214,286
W&T
Offshore,
Inc.
(a)
31,701
161,041
1,393,925
Financials
—
3.52%
Apollo
Global
Management
Inc.
3,459
218,470
Ares
Management
Corp.,
Class
A
1,571
131,084
BlackRock,
Inc.
353
236,199
Blackstone
Group
L.P.
(The),
Class
A
3,303
290,136
Capital
One
Financial
Corp.
1,245
119,719
Charles
Schwab
Corp.
(The)
2,297
120,317
Citizens
Financial
Group,
Inc.
2,666
80,966
Icahn
Enterprises,
L.P.
1,697
87,752
Intercontinental
Exchange,
Inc.
2,055
214,316
Pinnacle
Financial
Partners,
Inc.
1,889
104,197
Western
Alliance
Bancorp
2,231
79,290
1,682,446
Health
Care
—
12.09%
Amedisys,
Inc.
(a)
2,535
186,449
Catalyst
Pharmaceuticals,
Inc.
(a)
15,598
258,615
Danaher
Corp.
2,595
654,044
Exelixis,
Inc.
(a)
13,947
270,711
Globus
Medical,
Inc.,
Class
A
(a)
3,646
206,509
HCA
Healthcare,
Inc.
1,930
508,903
Masimo
Corp.
(a)
2,912
537,380
Regeneron
Pharmaceuticals,
Inc.
(a)
614
504,505
ResMed,
Inc.
1,515
331,770
Royalty
Pharma
PLC,
Class
A
7,089
255,417
Seagen,
Inc.
(a)
3,037
614,901
ShockWave
Medical,
Inc.
(a)
984
213,361
Supernus
Pharmaceuticals,
Inc.
(a)
4,596
166,513
United
Therapeutics
Corp.
(a)
2,107
471,884
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
United
States
—
61.50%
(continued)
Health
Care
—
12.09%
(continued)
Universal
Health
Services,
Inc.,
Class
B
1,922
$
244,286
Vertex
Pharmaceuticals,
Inc.
(a)
1,125
354,454
5,779,702
Industrials
—
0.54%
Cintas
Corp.
204
94,387
Cognex
Corp.
3,257
161,384
255,771
Materials
—
0.99%
Mosaic
Co.
(The)
6,691
306,983
Steel
Dynamics,
Inc.
1,469
166,085
473,068
Real
Estate
—
1.08%
Alexandria
Real
Estate
Equities,
Inc.
1,632
204,963
Extra
Space
Storage,
Inc.
1,108
180,526
Medical
Properties
Trust,
Inc.
(b)
15,835
130,164
515,653
Technology
—
26.18%
Apple,
Inc.
9,591
1,581,556
Arista
Networks,
Inc.
(a)
1,341
225,100
Bentley
Systems,
Inc.
6,310
271,267
Block,
Inc.,
Class
A
(a)
1,516
104,073
Cloudflare,
Inc.,
Class
A
(a)
3,030
186,830
CoStar
Group,
Inc.
(a)
2,454
168,958
Crowdstrike
Holdings,
Inc.,
Class
A
(a)
1,895
260,108
EPAM
Systems,
Inc.
(a)
723
216,177
FleetCor
Technologies,
Inc.
(a)
1,731
364,982
Fortinet,
Inc.
(a)
4,399
292,358
Juniper
Networks,
Inc.
12,705
437,306
Microchip
Technology,
Inc.
2,988
250,335
Microsoft
Corp.
4,319
1,245,167
MongoDB,
Inc.
(a)
913
212,839
Monolithic
Power
Systems,
Inc.
357
178,693
NVIDIA
Corp.
2,976
826,643
Okta,
Inc.
(a)
4,397
379,197
Oracle
Corp.
7,112
660,847
Palo
Alto
Networks,
Inc.
(a)
1,080
215,719
Paycom
Software,
Inc.
(a)
1,173
356,604
Qualcomm,
Inc.
2,383
304,023
Salesforce.com,
Inc.
(a)
3,675
734,191
Snowflake,
Inc.
(a)
1,358
209,526
SS&C
Technologies
Holdings,
Inc.
3,110
175,622
Super
Micro
Computer,
Inc.
(a)
1,743
185,717
Synopsys,
Inc.
(a)
808
312,090
Twilio,
Inc.,
Class
A
(a)
3,182
212,017
Veeva
Systems,
Inc.,
Class
A
(a)
3,480
639,588
VMware,
Inc.,
Class
A
(a)
4,882
609,518
Workday,
Inc.,
Class
A
(a)
1,562
322,615
ERShares
Global
Entrepreneuers
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
94.44%
(continued)
Shares
Fair
Value
United
States
—
61.50%
(continued)
Technology
—
26.18%
(continued)
Zoom
Video
Communications,
Inc.,
Class
A
(a)
1,997
$
147,458
Zscaler,
Inc.
(a)
2,022
236,230
12,523,354
Total
United
States
29,398,641
Total Common
Stocks
(Cost $44,660,876)
45,153,224
Money
Market
Funds
-
7.03%
Fidelity
Investments
Money
Market
Treasury
Only
Portfolio,
Class
I,
4.21%
(c)
3,361,501
3,361,501
Total
Money
Market
Funds
(Cost
$3,361,501)
3,361,501
Total
Investments
—
101.47%
(Cost
$48,022,377)
48,514,725
Liabilities
in
Excess
of
Other
Assets
—
(1.47)%
(701,922)
Net
Assets
—
100.00%
$
47,812,803
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
the
security
is
on
loan
as
of
March
31,
2023.
The
total
value
of
the
securities
on
loan
as
of
March
31,
2023
was
$609,758.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
March
31,
2023.
ADR
-
American
Depositary
Receipt
ERShares
US
Small
Cap
Schedule
of
Investments
March
31,
2023
(Unaudited)
Common
Stocks
—
96.01%
Shares
Fair
Value
Communications
—
4.67%
Cargurus,
Inc.
(a)
19,689
$
367,791
Eventbrite,
Inc.,
Class
A
(a)
67,204
576,610
HealthStream,
Inc.
(a)
20,110
544,981
IMAX
Corp.
(a)
18,330
351,569
Match
Group,
Inc.
(a)
6,993
268,461
Shutterstock,
Inc.
11,442
830,689
World
Wrestling
Entertainment,
Inc.,
Class
A
7,568
690,656
Yelp,
Inc.
(a)
14,277
438,304
4,069,061
Consumer
Discretionary
—
10.97%
1-800-Flowers.com,
Inc.,
Class
A
(a)
40,095
461,093
2U,
Inc.
(a)
27,127
185,820
Advance
Auto
Parts,
Inc.
987
120,029
Arhaus,
Inc.
(a)
40,616
336,707
AutoNation,
Inc.
(a)
3,362
451,718
Bloomin'
Brands,
Inc.
32,992
846,244
Carriage
Services,
Inc.
28,052
856,147
Cheesecake
Factory,
Inc.
(The)
(b)
18,378
644,149
Cinemark
Holdings,
Inc.
(a)
23,077
341,309
DraftKings,
Inc.,
Class
A
(a)
9,163
177,396
Funko,
Inc.,
Class
A
(a)
64,395
607,245
GrowGeneration
Corp.
(a)
43,669
149,348
Liquidity
Services,
Inc.
(a)
40,230
529,829
NIU
Technologies
-
ADR
(a)
20,517
84,940
OneWater
Marine,
Inc.
(a)(b)
19,461
544,324
PC
Connection,
Inc.
6,691
300,827
RealReal,
Inc.
(The)
(a)(b)
170,174
214,419
Rush
Street
Interactive,
Inc.
(a)
54,983
170,997
Shake
Shack,
Inc.,
Class
A
(a)
11,957
663,493
Signet
Jewelers
Ltd.
6,774
526,882
Sonic
Automotive,
Inc.,
Class
A
11,134
605,022
Thor
Industries,
Inc.
2,265
180,385
XPEL,
Inc.
(a)
8,267
561,743
9,560,066
Consumer
Staples
—
4.11%
Chefs’
Warehouse,
Inc.
(The)
(a)
6,712
228,544
e.l.f.
Beauty,
Inc.
(a)
9,753
803,159
Five
Below,
Inc.
(a)
1,416
291,654
Inter
Parfums,
Inc.
3,022
429,849
J&J
Snack
Foods
Corp.
2,198
325,788
Utz
Brands,
Inc.
40,502
667,068
Vita
Coco
Co.,
Inc.
(The)
(a)(b)
42,720
838,166
3,584,228
Energy
—
5.31%
Ameresco,
Inc.,
Class
A
(a)
13,336
656,398
Antero
Resources
Corp.
(a)
24,621
568,499
Chesapeake
Energy
Corp.
7,329
557,297
ERShares
US
Small
Cap
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
96.01%
(continued)
Shares
Fair
Value
Energy
—
5.31%
(continued)
Daqo
New
Energy
Corp.
-
ADR
(a)
1,900
$
88,996
Devon
Energy
Corp.
10,152
513,793
Kinder
Morgan,
Inc.
29,753
520,975
Matador
Resources
Co.
11,869
565,558
Vermilion
Energy,
Inc.
42,203
547,373
W&T
Offshore,
Inc.
(a)
120,706
613,186
4,632,075
Financials
—
6.36%
B.
Riley
Financial,
Inc.
(b)
2,649
75,205
Credit
Acceptance
Corp.
(a)(b)
132
57,557
Customers
Bancorp,
Inc.
(a)
5,054
93,600
Evercore,
Inc.,
Class
A
4,288
494,750
Futu
Holdings
Ltd.
-
ADR
(a)
4,743
245,924
Grid
Dynamics
Holdings,
Inc.
(a)
40,242
461,173
HCI
Group,
Inc.
(b)
12,779
684,954
Houlihan
Lokey,
Inc.
2,901
253,808
Kinsale
Capital
Group,
Inc.
2,385
715,858
Live
Oak
Bancshares,
Inc.
5,631
137,227
Moelis
&
Co.,
A
8,529
327,855
Palomar
Holdings,
Inc.
(a)
10,302
568,670
Pinnacle
Financial
Partners,
Inc.
5,556
306,470
Preferred
Bank
2,684
147,110
Robinhood
Markets,
Inc.,
Class
A
(a)(b)
21,675
210,464
Stifel
Financial
Corp.
2,151
127,103
Triumph
Bancorp,
Inc.
(a)
4,053
235,317
Trupanion,
Inc.
(a)
9,422
404,110
5,547,155
Health
Care
—
27.23%
10X
Genomics,
Inc.,
Class
A
(a)
7,110
396,667
ACADIA
Pharmaceuticals,
Inc.
(a)
19,372
364,581
Alector,
Inc.
(a)
51,465
318,568
Alkermes
PLC
(a)
25,958
731,756
Allogene
Therapeutics,
Inc.
(a)
26,076
128,815
Amedisys,
Inc.
(a)
4,854
357,012
Amphastar
Pharmaceuticals,
Inc.
(a)
15,304
573,900
Apellis
Pharmaceuticals,
Inc.
(a)
13,934
919,086
Arcus
Biosciences,
Inc.
(a)
21,869
398,891
Arrowhead
Pharmaceuticals,
Inc.
(a)
16,414
416,916
Arvinas,
Inc.
(a)
13,319
363,875
Beam
Therapeutics,
Inc.
(a)
(b)
12,600
385,812
Berkeley
Lights,
Inc.
(a)
53,808
62,417
Blueprint
Medicines
Corp.
(a)
10,676
480,313
Bridgebio
Pharma,
Inc.
(a)
27,666
458,702
Castle
Biosciences,
Inc.
(a)
16,554
376,107
Catalyst
Pharmaceuticals,
Inc.
(a)
46,096
764,272
Cerus
Corp.
(a)
129,404
384,330
CRISPR
Therapeutics
AG
(a)
8,205
371,112
Eagle
Pharmaceuticals,
Inc.
(a)
14,478
410,741
ERShares
US
Small
Cap
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
96.01%
(continued)
Shares
Fair
Value
Health
Care
—
27.23%
(continued)
Ensign
Group,
Inc.
(The)
7,224
$
690,181
Exact
Sciences
Corp.
(a)
5,234
354,918
Exelixis,
Inc.
(a)
30,965
601,031
Fate
Therapeutics,
Inc.
(a)
45,738
260,707
Ginkgo
Bioworks
Holdings,
Inc.
(a)(b)
182,088
242,177
Globus
Medical,
Inc.,
Class
A
(a)
6,713
380,224
Guardant
Health,
Inc.
(a)
10,422
244,292
Inotiv,
Inc.
(a)
34,249
148,298
Intellia
Therapeutics,
Inc.
(a)
11,378
424,058
Invitae
Corp.
(a)(b)
149,007
201,159
iRadimed
Corp.
19,390
762,997
Karuna
Therapeutics,
Inc.
(a)
2,279
413,958
Kodiak
Sciences,
Inc.
(a)
44,926
278,541
Krystal
Biotech,
Inc.
(a)
5,726
458,424
LeMaitre
Vascular,
Inc.
18,149
934,129
Madrigal
Pharmaceuticals,
Inc.
(a)
2,892
700,616
MEDNAX,
Inc.
(a)
40,628
605,763
Medpace
Holdings,
Inc.
(a)
2,341
440,225
Merit
Medical
Systems,
Inc.
(a)
12,058
891,689
Natera,
Inc.
(a)
6,582
365,433
Pacific
Biosciences
of
California,
Inc.
(a)
23,575
272,999
Paragon
28,
Inc.
(a)
18,701
319,226
Relay
Therapeutics,
Inc.
(a)
24,117
397,207
Seer,
Inc.
(a)
45,891
177,139
Select
Medical
Holdings
Corp.
33,173
857,522
ShockWave
Medical,
Inc.
(a)
4,832
1,047,722
Supernus
Pharmaceuticals,
Inc.
(a)
15,598
565,116
Teladoc
Health,
Inc.
(a)
12,881
333,618
Twist
Bioscience
Corp.
(a)
27,102
408,698
Veracyte,
Inc.
(a)
21,550
480,565
Vir
Biotechnology,
Inc.
(a)
7,233
168,312
Zynex,
Inc.
(a)(b)
52,403
628,836
23,719,653
Industrials
—
7.60%
AAON,
Inc.
11,946
1,155,059
Allegiant
Travel
Co.
(a)
4,684
430,834
Bloom
Energy
Corp.,
Class
A
(a)
31,327
624,347
Clean
Harbors,
Inc.
(a)
3,006
428,535
Enovis
Corp.
(a)
5,446
291,307
ESAB
Corp.
8,572
506,348
Forrester
Research,
Inc.
(a)
10,980
355,203
Hillenbrand,
Inc.
14,083
669,365
Insperity,
Inc.
7,550
917,703
Napco
Security
Technologies,
Inc.
(a)
20,786
781,138
Titan
Machinery,
Inc.
(a)
15,301
465,915
6,625,754
Materials
—
1.79%
Element
Solutions,
Inc.
21,321
411,709
ERShares
US
Small
Cap
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
96.01%
(continued)
Shares
Fair
Value
Materials
—
1.79%
(continued)
Encore
Wire
Corp.
2,545
$
471,664
First
Majestic
Silver
Corp.
18,200
131,222
Graphic
Packaging
Holding
Co.
21,449
546,735
1,561,330
Real
Estate
—
2.08%
Compass,
Inc.,
Class
A
(a)
108,852
351,592
eXp
World
Holdings,
Inc.
(b)
48,463
614,995
Gladstone
Land
Corp.
18,397
306,310
Legacy
Housing
Corp.
(a)
6,934
157,818
Newmark
Group,
Inc.,
Class
A
54,196
383,708
1,814,423
Technology
—
25.89%
Altair
Engineering,
Inc.,
Class
A
(a)
16,830
1,213,610
Ambarella,
Inc.
(a)
5,841
452,210
Appfolio,
Inc.,
Class
A
(a)
6,732
837,999
Appian
Corp.
(a)
16,163
717,314
Asana,
Inc.,
Class
A
(a)
44,793
946,476
Box,
Inc.,
Class
A
(a)
29,542
791,430
Coherent
Corp.
(a)
8,203
312,370
CS
Disco,
Inc.
(a)
72,324
480,231
Domo,
Inc.
(a)
19,357
274,676
ExlService
Holdings,
Inc.
(a)
5,533
895,406
Fastly,
Inc.
(a)
18,506
328,667
GitLab,
Inc.
(a)
6,194
212,392
Impinj,
Inc.
(a)
5,763
781,002
Intapp,
Inc.
(a)
15,101
677,129
JFrog
Ltd
(a)
8,320
163,904
Lattice
Semiconductor
Corp.
(a)
8,583
819,676
Materialise
NV
-
ADR
(a)
19,435
161,311
MaxLinear,
Inc.
(a)
19,755
695,574
Omnicell,
Inc.
(a)
13,926
817,038
PagerDuty,
Inc.
(a)
22,608
790,828
Pegasystems,
Inc.
11,836
573,809
Phreesia,
Inc.
(a)
15,771
509,246
PubMatic,
Inc.
(a)
44,311
612,378
Pure
Storage,
Inc.,
Class
A
(a)
7,630
194,641
R1
RCM,
Inc.
(a)
46,305
694,575
Rapid7,
Inc.
(a)
13,501
619,831
Repay
Holdings
Corp.
(a)
51,241
336,653
Sanmina
Corp.
(a)
13,920
848,981
Schrodinger,
Inc.
(a)
16,829
443,108
Simulations
Plus,
Inc.
6,983
306,833
Sprout
Social,
Inc.,
Class
A
(a)
9,820
597,842
Super
Micro
Computer,
Inc.
(a)
9,078
967,261
TaskUs,
Inc.
(a)
17,714
255,790
Tenable
Holdings,
Inc.
(a)
21,213
1,007,830
TTEC
Holdings,
Inc.
11,573
430,863
Upstart
Holdings,
Inc.
(a)(b)
2,635
41,870
ERShares
US
Small
Cap
Schedule
of
Investments
(continued)
March
31,
2023
(Unaudited)
Common
Stocks
—
96.01%
(continued)
Shares
Fair
Value
Technology
—
25.89%
(continued)
Vicor
Corp.
(a)
13,021
$
611,206
Wolfspeed,
Inc.
(a)(b)
2,986
193,941
Zuora,
Inc.
(a)
95,432
942,868
22,558,769
Total Common
Stocks
(Cost $82,040,908)
83,672,514
Money
Market
Funds
-
6.48%
Fidelity
Investments
Money
Market
Treasury
Only
Portfolio,
Class
I,
4.21%
(c)
5,646,708
5,646,708
Total
Money
Market
Funds
(Cost
$5,646,708)
5,646,708
Total
Investments
—
102.49%
(Cost
$87,687,616)
89,319,222
Liabilities
in
Excess
of
Other
Assets
—
(2.49)%
(2,167,610)
Net
Assets
—
100.00%
$
87,151,612
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
the
security
is
on
loan
as
of
March
31,
2023.
The
total
value
of
the
securities
on
loan
as
of
March
31,
2023
was
$4,195,663.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
March
31,
2023.
ADR
-
American
Depositary
Receipt