0001752724-23-271626.txt : 20231128
0001752724-23-271626.hdr.sgml : 20231128
20231128160408
ACCESSION NUMBER: 0001752724-23-271626
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20230930
FILED AS OF DATE: 20231128
DATE AS OF CHANGE: 20231128
PERIOD START: 20240630
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: 231446355
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
S000059420
ERShares Entrepreneurs ETF
C000194842
ERShares Entrepreneurs ETF
ENTR
NPORT-P
1
primary_doc.xml
NPORT-P
false
0001495922
XXXXXXXX
S000059420
C000194842
EntrepreneurShares Series Trust
811-22436
0001495922
549300UON6JV1E7QG046
175 Federal Street
Suite 875
Boston
2110
(800) 287-9469
ERSHARES ENTREPRENEURS ETF
S000059420
5493004Z5W4ALQTA2M10
2024-06-30
2023-09-30
N
62687655.27
639033.40
62048621.87
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
0.00
N
Hubspot Inc
529900BLNVEW0MVKJB37
HubSpot, Inc.
443573100
1787.00000000
NS
USD
880097.50000000
1.418399754057
Long
EC
CORP
US
N
1
N
N
N
Spotify Technology S.A.
549300B4X0JHWV0DTD60
Spotify Technology S.A.
L8681T102
3006.00000000
NS
USD
464847.84000000
0.749167066069
Long
EC
CORP
SE
N
1
N
N
N
NVIDIA Corp.
549300S4KLFTLO7GSQ80
NVIDIA Corporation
67066G104
4206.00000000
NS
USD
1829567.94000000
2.948603667351
Long
EC
CORP
US
N
1
N
N
N
Extra Space Storage Inc.
529900SDJHKRQWED6A16
Extra Space Storage, Inc.
30225T102
6642.00000000
NS
USD
807534.36000000
1.301454142997
Long
EC
CORP
US
N
1
N
N
N
MongoDB Inc.
549300TPTG69WKWE1Z37
MongoDB, Inc.
60937P106
2559.00000000
NS
USD
885055.74000000
1.426390648698
Long
EC
CORP
US
N
1
N
N
N
Dropbox Inc
549300JCDF7UAR6TJR51
Dropbox, Inc.
26210C104
52520.00000000
NS
USD
1430119.60000000
2.304837008300
Long
EC
CORP
US
N
1
N
N
N
Pure Storage Inc
549300NPDB0BZTK3WO90
Pure Storage, Inc.
74624M102
29073.00000000
NS
USD
1035580.26000000
1.668981886768
Long
EC
CORP
US
N
1
N
N
N
N/A
N/A
BBH SWEEP VEHICLE
N/A
4330583.20000000
PA
USD
4330583.20000000
6.979338250369
Long
STIV
US
N
1
N
N
N
Shutterstock Inc
529900G2TDIS56V0LO22
Shutterstock, Inc.
825690100
18594.00000000
NS
USD
707501.70000000
1.140237572854
Long
EC
CORP
US
N
1
N
N
N
Oracle Corp.
1Z4GXXU7ZHVWFCD8TV52
Oracle Corporation
68389X105
12956.00000000
NS
USD
1372299.52000000
2.211651892728
Long
EC
CORP
US
N
1
N
N
N
Zoominfo Technologies Inc
2549008GSAHW4UWFEM58
ZoomInfo Technologies, Inc.
98980F104
51628.00000000
NS
USD
846699.20000000
1.364573739887
Long
EC
CORP
US
N
1
N
N
N
UiPath Inc.
5493000YP61KBELDHT53
UiPath, Inc.
90364P105
40007.00000000
NS
USD
684519.77000000
1.103198990356
Long
EC
CORP
US
N
1
N
N
N
Snowflake Inc
254900CJNSY1K7T53Z16
Snowflake, Inc.
833445109
2325.00000000
NS
USD
355190.25000000
0.572438580093
Long
EC
CORP
US
N
1
N
N
N
Arista Networks Inc
635400H1WKBLOQERUU95
Arista Networks, Inc.
040413106
6685.00000000
NS
USD
1229572.05000000
1.981626687174
Long
EC
CORP
US
N
1
N
N
N
Exelixis, Inc.
254900PJQB59O2O95R37
Exelixis, Inc.
30161Q104
57250.00000000
NS
USD
1250912.50000000
2.016019795928
Long
EC
CORP
US
N
1
N
N
N
Five Below Inc
529900AAXP5Z6BGI7418
Five Below, Inc.
33829M101
2331.00000000
NS
USD
375057.90000000
0.604458066426
Long
EC
CORP
US
N
1
N
N
N
Microsoft Corporation
INR2EJN1ERAN0W5ZP974
Microsoft Corporation
594918104
713.00000000
NS
USD
225129.75000000
0.362827961709
Long
EC
CORP
US
N
1
N
N
N
DoorDash Inc
549300NUQ43FGGSK5051
DoorDash, Inc.
25809K105
13819.00000000
NS
USD
1098195.93000000
1.769895763842
Long
EC
CORP
US
N
1
N
N
N
Wayfair Inc
54930027N9ZAVYFDHK53
Wayfair, Inc.
94419L101
9743.00000000
NS
USD
590133.51000000
0.951082380582
Long
EC
CORP
US
N
1
N
N
N
Playtika Holding Corp
254900E35Z4TKA4UFG64
Playtika Holding Corporation
72815L107
77905.00000000
NS
USD
750225.15000000
1.209092365615
Long
EC
CORP
IL
N
1
N
N
N
Block Inc
549300OHIIUWSTIZME52
Block, Inc.
852234103
11706.00000000
NS
USD
518107.56000000
0.835002526060
Long
EC
CORP
US
N
1
N
N
N
Synopsys Inc
QG7T915N9S0NY5UKNE63
Synopsys, Inc.
871607107
2196.00000000
NS
USD
1007898.12000000
1.624368260928
Long
EC
CORP
US
N
1
N
N
N
VMware Inc
549300BUDHS3LRWBE814
VMware, Inc.
928563402
11961.00000000
NS
USD
1991267.28000000
3.209204684951
Long
EC
CORP
US
N
1
N
N
N
Applovin Corporation
549300LLVXMUAOL3SQ07
AppLovin Corporation
03831W108
32111.00000000
NS
USD
1283155.56000000
2.067983979867
Long
EC
CORP
US
N
1
N
N
N
Cloudflare Inc
5493007DY18BGNLDWU14
Cloudflare, Inc.
18915M107
6857.00000000
NS
USD
432265.28000000
0.696655730574
Long
EC
CORP
US
N
1
N
N
N
Regeneron Pharmaceuticals, Inc.
549300RCBFWIRX3HYQ56
Regeneron Pharmaceuticals, Inc.
75886F107
1495.00000000
NS
USD
1230325.20000000
1.982840493343
Long
EC
CORP
US
N
1
N
N
N
Bentley Systems Incorporated
549300WVEHPGE0Z56F71
Bentley Systems, Inc.
08265T208
18841.00000000
NS
USD
945064.56000000
1.523103223758
Long
EC
CORP
US
N
1
N
N
N
Salesforce Inc
RCGZFPDMRW58VJ54VR07
Salesforce, Inc.
79466L302
6232.00000000
NS
USD
1263724.96000000
2.036668860506
Long
EC
CORP
US
N
1
N
N
N
Monolithic Power Systems Inc.
529900TB7O85LSZ1XU31
Monolithic Power Systems, Inc.
609839105
1550.00000000
NS
USD
716100.00000000
1.154094931391
Long
EC
CORP
US
N
1
N
N
N
Paycom Software Inc
254900LSB0HNJUDC6Q18
Paycom Software, Inc.
70432V102
4995.00000000
NS
USD
1295053.65000000
2.087159409782
Long
EC
CORP
US
N
1
N
N
N
Amazon.com, Inc.
ZXTILKJKG63JELOEG630
Amazon.com, Inc.
023135106
18935.00000000
NS
USD
2407017.20000000
3.879243611635
Long
EC
CORP
US
N
1
N
N
N
Palo Alto Networks Inc
549300QXR2YVZV231H43
Palo Alto Networks, Inc.
697435105
4584.00000000
NS
USD
1074672.96000000
1.731985219996
Long
EC
CORP
US
N
1
N
N
N
Seagen Inc
N/A
Seagen, Inc.
81181C104
6145.00000000
NS
USD
1303661.75000000
2.101032562385
Long
EC
CORP
US
N
1
N
N
N
Crowdstrike Holdings Inc
549300YBY08K9KM4HX32
Crowdstrike Holdings, Inc.
22788C105
6913.00000000
NS
USD
1157097.94000000
1.864824560365
Long
EC
CORP
US
N
1
N
N
N
BILL Holdings Inc
549300IBF9VZZIGOZW63
BILL Holdings, Inc.
090043100
4481.00000000
NS
USD
486502.17000000
0.784066036179
Long
EC
CORP
US
N
1
N
N
N
Twilio Inc
5493004W8TRGD63APX93
Twilio, Inc.
90138F102
17541.00000000
NS
USD
1026674.73000000
1.654629384277
Long
EC
CORP
US
N
1
N
N
N
Chipotle Mexican Grill Inc
N/A
Chipotle Mexican Grill, Inc.
169656105
436.00000000
NS
USD
798677.88000000
1.287180691415
Long
EC
CORP
US
N
1
N
N
N
Netflix, Inc.
549300Y7VHGU0I7CE873
Netflix, Inc.
64110L106
1242.00000000
NS
USD
468979.20000000
0.755825328373
Long
EC
CORP
US
N
1
N
N
N
Meta Platforms Inc
BQ4BKCS1HXDV9HN80Z93
Meta Platforms, Inc.
30303M102
6841.00000000
NS
USD
2053736.61000000
3.309882714724
Long
EC
CORP
US
N
1
N
N
N
Fortinet Inc
549300O0QJWDBAS0QX03
Fortinet, Inc.
34959E109
16428.00000000
NS
USD
963995.04000000
1.553612330052
Long
EC
CORP
US
N
1
N
N
N
Workday Inc
549300J0DYC0N31V7G13
Workday, Inc.
98138H101
2151.00000000
NS
USD
462142.35000000
0.744806791951
Long
EC
CORP
US
N
1
N
N
N
Cognex Corp
549300JQTYZCLC43S226
Cognex Corporation
192422103
13166.00000000
NS
USD
558765.04000000
0.900527720294
Long
EC
CORP
US
N
1
N
N
N
Fleetcor Technologies Inc
549300DG6RR0NQSFLN74
FleetCor Technologies, Inc.
339041105
5806.00000000
NS
USD
1482504.04000000
2.389261832609
Long
EC
CORP
US
N
1
N
N
N
Roblox Corporation
N/A
ROBLOX Corporation
771049103
18842.00000000
NS
USD
545664.32000000
0.879414084559
Long
EC
CORP
US
N
1
N
N
N
The Trade Desk Inc
549300GXPD31VT3E0P46
Trade Desk, Inc. (The)
88339J105
8225.00000000
NS
USD
642783.75000000
1.035935578628
Long
EC
CORP
US
N
1
N
N
N
Zoom Video Communications Inc
549300T9GCHU0ODOM055
Zoom Video Communications, Inc.
98980L101
8665.00000000
NS
USD
606030.10000000
0.976701950399
Long
EC
CORP
US
N
1
N
N
N
Unity Software Inc
549300D1ESJMGNQNG432
Unity Software, Inc.
91332U101
17843.00000000
NS
USD
560091.77000000
0.902665930555
Long
EC
CORP
US
N
1
N
N
N
Alphabet Inc.
5493006MHB84DD0ZWV18
Alphabet, Inc.
02079K305
32144.00000000
NS
USD
4206363.84000000
6.779141443000
Long
EC
CORP
US
N
1
N
N
N
Exact Sciences Corporation
549300VM3X1FYD4N9Z14
Exact Sciences Corporation
30063P105
3647.00000000
NS
USD
248798.34000000
0.400973192476
Long
EC
CORP
US
N
1
N
N
N
Enphase Energy Inc
5493008U7KIGMI59Z314
Enphase Energy, Inc.
29355A107
6413.00000000
NS
USD
770521.95000000
1.241803486972
Long
EC
CORP
US
N
1
N
N
N
Veeva Systems Inc
549300YZEXPDB92M2F02
Veeva Systems, Inc.
922475108
7373.00000000
NS
USD
1500036.85000000
2.417518398946
Long
EC
CORP
US
N
1
N
N
N
DraftKings Inc New
N/A
DraftKings, Inc.
26142V105
47272.00000000
NS
USD
1391687.68000000
2.242898614115
Long
EC
CORP
US
N
1
N
N
N
Toast Inc
549300TN1PZNLCD4I551
Toast, Inc.
888787108
34128.00000000
NS
USD
639217.44000000
1.030187973133
Long
EC
CORP
US
N
1
N
N
N
Roku Inc
549300KR6ITU0YIR1T71
Roku, Inc.
77543R102
15914.00000000
NS
USD
1123369.26000000
1.810466092790
Long
EC
CORP
US
N
1
N
N
N
Datadog Inc
549300F6JNO0KRPO1K63
Datadog, Inc.
23804L103
10754.00000000
NS
USD
979581.86000000
1.578732662350
Long
EC
CORP
US
N
1
N
N
N
Steel Dynamics, Inc.
549300HGGKEL4FYTTQ83
Steel Dynamics, Inc.
858119100
6853.00000000
NS
USD
734778.66000000
1.184198194666
Long
EC
CORP
US
N
1
N
N
N
Airbnb Inc
549300HMUDNO0RY56D37
Airbnb, Inc.
009066101
8280.00000000
NS
USD
1136098.80000000
1.830981520234
Long
EC
CORP
US
N
1
N
N
N
10X Genomics Inc
5493003Z6741WNLG7H43
10X Genomics, Inc.
88025U109
14098.00000000
NS
USD
581542.50000000
0.937236770896
Long
EC
CORP
US
N
1
N
N
N
Wolfspeed Inc.
549300OGU88P3AW3TO93
Wolfspeed, Inc.
977852102
5758.00000000
NS
USD
219379.80000000
0.353561116086
Long
EC
CORP
US
N
1
N
N
N
Tesla Inc
54930043XZGB27CTOV49
Tesla, Inc.
88160R101
2840.00000000
NS
USD
710624.80000000
1.145270883677
Long
EC
CORP
US
N
1
N
N
N
2023-09-30
EntrepreneurShares Series Trust
Gregory Knoth
Gregory Knoth
SVP, Mutual Fund Controller
XXXX
NPORT-EX
2
ultimus_1238.htm
ERShares
Entrepreneurs
ETF
Schedule
of
Investments
September
30,
2023
(Unaudited)
Common
Stocks
—
94.03%
Shares
Fair
Value
Communications
—
24.70%
Airbnb,
Inc.,
Class
A
(a)
8,280
$
1,136,099
Alphabet,
Inc.,
Class
A
(a)
32,144
4,206,363
AppLovin
Corp.
(a)
32,111
1,283,156
DoorDash,
Inc.,
Class
A
(a)
13,819
1,098,196
Meta
Platforms,
Inc.,
Class
A
(a)
6,841
2,053,737
Netflix,
Inc.
(a)
1,242
468,979
Playtika
Holding
Corp.
(a)
77,905
750,225
Roblox
Corp.,
Class
A
(a)
18,842
545,664
Roku,
Inc.
(a)
15,914
1,123,369
Shutterstock,
Inc.
18,594
707,502
Spotify
Technology
SA
(a)
3,006
464,848
Trade
Desk,
Inc.
(The),
Class
A
(a)
8,225
642,784
ZoomInfo
Technologies,
Inc.,
Class
A
(a)
51,628
846,699
15,327,621
Consumer
Discretionary
—
9.51%
Amazon.com,
Inc.
(a)
18,935
2,407,016
Chipotle
Mexican
Grill,
Inc.
(a)
436
798,678
DraftKings,
Inc.,
Class
A
(a)
47,272
1,391,688
Tesla,
Inc.
(a)
2,840
710,625
Wayfair,
Inc.,
Class
A
(a)
9,743
590,134
5,898,141
Consumer
Staples
—
0.60%
Five
Below,
Inc.
(a)
2,331
375,058
Energy
—
1.24%
Enphase
Energy,
Inc.
(a)
6,413
770,522
Health
Care
—
7.44%
10X
Genomics,
Inc.,
Class
A
(a)
14,098
581,543
Exact
Sciences
Corp.
(a)
3,647
248,798
Exelixis,
Inc.
(a)
57,250
1,250,913
Regeneron
Pharmaceuticals,
Inc.
(a)
1,495
1,230,325
Seagen,
Inc.
(a)
6,145
1,303,661
4,615,240
Industrials
—
0.90%
Cognex
Corp.
13,166
558,765
Materials
—
1.18%
Steel
Dynamics,
Inc.
6,853
734,779
REITs
—
1.30%
Extra
Space
Storage,
Inc.
6,642
807,534
Technology
—
47.16%
Arista
Networks,
Inc.
(a)
6,685
1,229,572
Bentley
Systems,
Inc.
18,841
945,065
Bill.com
Holdings,
Inc.
(a)
4,481
486,502
Block,
Inc.,
Class
A
(a)
11,706
518,108
Cloudflare,
Inc.,
Class
A
(a)
6,857
432,265
Crowdstrike
Holdings,
Inc.,
Class
A
(a)
6,913
1,157,098
ERShares
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
94.03%
(continued)
Shares
Fair
Value
Technology
—
47.16%
(continued)
Datadog,
Inc.,
Class
A
(a)
10,754
$
979,582
Dropbox,
Inc.,
Class
A
(a)
52,520
1,430,120
FleetCor
Technologies,
Inc.
(a)
5,806
1,482,504
Fortinet,
Inc.
(a)
16,428
963,995
HubSpot,
Inc.
(a)
1,787
880,098
Microsoft
Corp.
713
225,130
MongoDB,
Inc.
(a)
2,559
885,056
Monolithic
Power
Systems,
Inc.
1,550
716,100
NVIDIA
Corp.
4,206
1,829,568
Oracle
Corp.
12,956
1,372,300
Palo
Alto
Networks,
Inc.
(a)
4,584
1,074,673
Paycom
Software,
Inc.
4,995
1,295,054
Pure
Storage,
Inc.,
Class
A
(a)
29,073
1,035,580
Salesforce,
Inc.
(a)
6,232
1,263,725
Snowflake,
Inc.
(a)
2,325
355,190
Synopsys,
Inc.
(a)
2,196
1,007,898
Toast,
Inc.,
Class
A
(a)
34,128
639,217
Twilio,
Inc.,
Class
A
(a)
17,541
1,026,675
UiPath,
Inc.,
Class
A
(a)
40,007
684,520
Unity
Software,
Inc.
(a)
17,843
560,092
Veeva
Systems,
Inc.,
Class
A
(a)
7,373
1,500,036
VMware,
Inc.,
Class
A
(a)
11,961
1,991,266
Wolfspeed,
Inc.
(a)
5,758
219,380
Workday,
Inc.,
Class
A
(a)
2,151
462,142
Zoom
Video
Communications,
Inc.,
Class
A
(a)
8,665
606,030
29,254,541
Total Common
Stocks
(Cost $53,496,240)
58,342,201
Total
Investments
—
94.03%
(Cost
$53,496,240)
58,342,201
Other
Assets
in
Excess
of
Liabilities — 5.97%
3,706,421
Net
Assets
—
100.00%
$
62,048,622
(a)
Non-income
producing
security.
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
Shares
Fair
Value
Australia
—
7.63%
Communications
—
1.79%
SEEK
Ltd.
24,594
$
347,382
Consumer
Discretionary
—
1.73%
Flight
Centre
Travel
Group
Ltd.
15,931
197,195
Harvey
Norman
Holdings
Ltd.
55,661
137,890
335,085
Health
Care
—
2.57%
Telix
Pharmaceuticals
Ltd.
(a)
68,076
496,696
Materials
—
0.62%
Fortescue
Metals
Group
Ltd.
9,008
119,723
Technology
—
0.92%
WiseTech
Global
Ltd.
4,303
178,588
Total
Australia
1,477,474
Belgium
—
1.18%
Health
Care
—
0.98%
Galapagos
NV
-
ADR
(a)
5,521
190,751
Technology
—
0.20%
Materialise
NV
-
ADR
(a)
6,890
37,826
Total
Belgium
228,577
Bermuda
—
2.83%
Consumer
Discretionary
—
0.39%
Luk
Fook
Holdings
International
Ltd.
29,475
76,248
Financials
—
1.32%
Enstar
Group
Ltd.
(a)
1,055
255,310
Materials
—
0.48%
Nine
Dragons
Paper
Holdings
Ltd.
166,068
93,150
Technology
—
0.64%
Skyworth
Group
Ltd.
330,000
123,304
Total
Bermuda
548,012
Canada
—
12.83%
Consumer
Discretionary
—
2.38%
Aritzia,
Inc.
(a)
4,315
75,070
Gildan
Activewear,
Inc.
5,026
140,873
Linamar
Corp.
4,168
200,784
Spin
Master
Corp.
(a)
1,730
43,497
460,224
Energy
—
1.20%
Vermilion
Energy,
Inc.
15,894
232,370
Financials
—
3.61%
Fairfax
Financial
Holdings
Ltd.
422
344,492
First
National
Financial
Corp.
5,511
144,648
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
(continued)
Shares
Fair
Value
Canada
—
12.83%
(continued)
Financials
—
3.61%
(continued)
Onex
Corp.
3,590
$
211,001
700,141
Materials
—
2.73%
Cascades,
Inc.
8,277
74,772
First
Majestic
Silver
Corp.
18,663
95,634
First
Quantum
Minerals
Ltd.
6,758
159,666
Triple
Flag
Precious
Metals
Corp.
2,010
26,327
West
Fraser
Timber
Co.,
Ltd.
2,395
173,733
530,132
REITs
—
2.16%
Allied
Properties
Real
Estate
Investment
Trust
9,492
125,303
Colliers
International
Group,
Inc.
1,055
100,489
Tricon
Residential,
Inc.
26,243
193,986
419,778
Technology
—
0.75%
Nuvei
Corp.
9,645
144,675
Total
Canada
2,487,320
Cayman
Islands
—
5.22%
Communications
—
0.72%
Vnet
Group,
Inc.
-
ADR
(a)
44,342
138,790
Consumer
Discretionary
—
1.67%
NagaCorp
Ltd.
(a)
211,912
101,898
Yadea
Group
Holdings
Ltd.
119,382
221,075
322,973
Financials
—
1.62%
FinVolution
Group
-
ADR
35,345
176,018
Noah
Holdings
Ltd.
-
ADR
5,082
63,373
Value
Partners
Group
Ltd.
239,163
75,126
314,517
Materials
—
0.39%
Lee
&
Man
Paper
Manufacturing
Ltd.
260,226
75,877
Utilities
—
0.82%
Tian
Lun
Gas
Holdings
Ltd.
323,507
159,804
Total
Cayman
Islands
1,011,961
China
—
8.78%
Communications
—
1.78%
Bilibili,
Inc.
-
ADR
(a)
11,126
153,205
Weimob,
Inc.
(a)
445,098
190,899
344,104
Consumer
Discretionary
—
0.93%
XPeng,
Inc.
-
ADR
(a)
9,775
179,469
Energy
—
2.32%
Daqo
New
Energy
Corp.
-
ADR
(a)
8,176
247,488
JinkoSolar
Holding
Co.,
Ltd.
-
ADR
(a)
1,639
49,776
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
(continued)
Shares
Fair
Value
China
—
8.78%
(continued)
Energy
—
2.32%
(continued)
Tianneng
Power
International
Ltd.
162,522
$
153,519
450,783
Financials
—
1.93%
Futu
Holdings
Ltd.
-
ADR
(a)
6,434
371,949
Health
Care
—
0.81%
BeiGene
Ltd.
-
ADR
(a)
877
157,746
Technology
—
1.01%
Kingdee
International
Software
Group
Co.,
Ltd.
(a)
159,491
195,202
Total
China
1,699,253
Denmark
—
0.49%
Technology
—
0.49%
Netcompany
Group
A/S
(a)
2,515
95,323
Total
Denmark
95,323
Germany
—
0.25%
Energy
—
0.25%
VERBIO
Vereinigte
BioEnergie
AG
1,196
47,998
Total
Germany
47,998
Ireland
—
1.59%
Health
Care
—
1.59%
Jazz
Pharmaceuticals
PLC
(a)
2,379
307,938
Total
Ireland
307,938
Isle
Of
Man
—
1.07%
Consumer
Discretionary
—
1.07%
Entain
PLC
18,221
206,645
Total
Isle
Of
Man
206,645
Israel
—
5.72%
Communications
—
2.52%
Fiverr
International
Ltd.
(a)
7,573
185,311
Wix.com
Ltd.
(a)
3,301
303,031
488,342
Technology
—
3.20%
AudioCodes
Ltd.
15,644
158,161
Check
Point
Software
Technologies
Ltd.
(a)
1,116
148,740
JFrog
Ltd.
(a)
9,334
236,711
Radware
Ltd.
(a)
4,565
77,240
620,852
Total
Israel
1,109,194
Japan
—
2.33%
Industrials
—
0.47%
S-Pool,
Inc.
28,569
91,082
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
(continued)
Shares
Fair
Value
Japan
—
2.33%
(continued)
Technology
—
1.86%
GMO
Payment
Gateway,
Inc.
1,259
$
68,695
SHIFT,
Inc.
(a)
1,606
292,054
360,749
Total
Japan
451,831
Jersey
—
1.17%
Communications
—
1.17%
Gambling.com
Group
Ltd.
(a)
17,282
226,049
Total
Jersey
226,049
Singapore
—
1.19%
Consumer
Discretionary
—
0.34%
Best
World
International
Ltd.
(a)
53,705
65,888
Consumer
Staples
—
0.85%
Wilmar
International
Ltd.
60,635
164,996
Total
Singapore
230,884
Spain
—
0.48%
Industrials
—
0.48%
Sacyr
S.A.
31,579
92,677
Total
Spain
92,677
Sweden
—
4.46%
Communications
—
0.14%
Embracer
Group
A.B.
(a)
13,574
27,075
Consumer
Discretionary
—
0.82%
Evolution
Gaming
Group
A.B.
1,567
158,134
Financials
—
1.02%
Avanza
Bank
Holding
A.B.
2,810
48,462
Nordnet
A.B.,
Class
A
11,537
151,733
200,195
Health
Care
—
0.69%
Cellavision
A.B.
9,555
134,151
Industrials
—
0.86%
HMS
Networks
A.B.
4,568
166,433
REITs
—
0.71%
Fabege
A.B.
16,721
133,181
Neobo
Fastigheter
A.B.
(a)
4,134
3,698
136,879
Technology
—
0.22%
Sinch
A.B.
(a)
24,104
42,052
Total
Sweden
864,919
Switzerland
—
2.31%
Health
Care
—
1.90%
CRISPR
Therapeutics
AG
(a)
3,711
168,442
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
(continued)
Shares
Fair
Value
Switzerland
—
2.31%
(continued)
Health
Care
—
1.90%
(continued)
Medacta
Group
S.A.
1,574
$
198,697
367,139
Technology
—
0.41%
Sensirion
Holding
AG
(a)
1,000
80,029
Total
Switzerland
447,168
United
Kingdom
—
4.28%
Communications
—
0.22%
Future
PLC
4,021
43,426
Consumer
Discretionary
—
1.45%
Frasers
Group
PLC
(a)
28,587
280,268
Health
Care
—
0.90%
Hikma
Pharmaceuticals
PLC
6,852
173,982
Technology
—
1.71%
Computacenter
PLC
10,785
332,070
Total
United
Kingdom
829,746
United
States
—
22.95%
Communications
—
1.98%
fuboTV,
Inc.
(a)
67,252
179,563
Playtika
Holding
Corp.
(a)
21,289
205,013
384,576
Consumer
Discretionary
—
0.23%
Skechers
U.S.A.,
Inc.,
Class
A
(a)
917
44,887
Consumer
Staples
—
2.40%
e.l.f.
Beauty,
Inc.
(a)
2,095
230,094
Inter
Parfums,
Inc.
1,753
235,498
465,592
Energy
—
2.46%
Ameresco,
Inc.,
Class
A
(a)
4,616
177,993
Antero
Resources
Corp.
(a)
5,504
139,692
Matador
Resources
Co.
2,652
157,740
475,425
Health
Care
—
3.95%
Amphastar
Pharmaceuticals,
Inc.
(a)
6,356
292,313
Catalyst
Pharmaceuticals,
Inc.
(a)
23,893
279,309
Select
Medical
Holdings
Corp.
3,641
92,008
ShockWave
Medical,
Inc.
(a)
516
102,736
766,366
Industrials
—
0.89%
Titan
Machinery,
Inc.
(a)
6,520
173,302
Technology
—
11.04%
Appfolio,
Inc.,
Class
A
(a)
833
152,131
Box,
Inc.,
Class
A
(a)
4,099
99,237
Dropbox,
Inc.,
Class
A
(a)
4,021
109,492
ERShares
NextGen
Entrepreneurs
ETF
Schedule
of
Investments
(continued)
September
30,
2023
(Unaudited)
Common
Stocks
—
87.36%
(continued)
Shares
Fair
Value
United
States
—
22.95%
(continued)
Technology
—
11.04%
(continued)
ExlService
Holdings,
Inc.
(a)
4,420
$
123,937
Fastly,
Inc.,
Class
A
(a)
13,771
263,989
MaxLinear,
Inc.
(a)
4,594
102,217
PagerDuty,
Inc.
(a)
4,675
105,141
PubMatic,
Inc.,
Class
A
(a)
6,048
73,181
R1
RCM,
Inc.
(a)
10,041
151,318
Rapid7,
Inc.
(a)
4,774
218,554
Repay
Holdings
Corp.,
Class
A
(a)
26,019
197,484
Super
Micro
Computer,
Inc.
(a)
455
124,770
TaskUs,
Inc.
(a)
2,252
23,376
Tenable
Holdings,
Inc.
(a)
1,114
49,907
TTEC
Holdings,
Inc.
1,228
32,198
Unity
Software,
Inc.
(a)
5,934
186,268
Zscaler,
Inc.
(a)
802
124,783
2,137,983
Total
United
States
4,448,131
Virgin
Islands
British
—
0.60%
Consumer
Staples
—
0.60%
Nomad
Foods
Ltd.
(a)
7,619
115,961
Total
Virgin
Islands
British
115,961
Total Common
Stocks
(Cost $18,864,065)
16,927,061
Total
Investments
—
87.36%
(Cost
$18,864,065)
16,927,061
Other
Assets
in
Excess
of
Liabilities
—
12.64%
2,448,400
Net
Assets
—
100.00%
$
19,375,461
(a)
Non-income
producing
security.
ADR
-
American
Depositary
Receipt