2023 ETF SERIES TRUST

Ticker: EAGL CUSIP: 88339Y102 Class: ETF

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (3)

Greenspring Advisors, LLC
Value ($000) $11,415 Shares 351,668
Rockefeller Capital Management L.P.
Value ($000) $659 Shares 20,303
&PARTNERS
Value ($000) $219 Shares 6,754

Increased Positions (20)

Sendero Wealth Management, LLC
Value ($000) $76,259 (+33.5%) Shares 2,349,314 (+28.6%)
Red Door Wealth Management, LLC
Value ($000) $34,584 (+18.9%) Shares 1,065,445 (+14.5%)
Permanens Capital L.P.
Value ($000) $25,990 (+8.8%) Shares 800,671 (+4.8%)
BROWN BROTHERS HARRIMAN & CO
Value ($000) $77,781 (+133.9%) Shares 2,396,201 (+125.3%)
GLENMEDE TRUST CO NA
Value ($000) $56,847 (+316.6%) Shares 1,751,300 (+259.5%)
BROWN ADVISORY INC
Value ($000) $219,839 (+56.1%) Shares 6,772,608 (+50.4%)
GC Wealth Management RIA, LLC
Value ($000) $6,948 (+31.1%) Shares 214,056 (+26.3%)
CITIZENS FINANCIAL GROUP INC/RI
Value ($000) $19,888 (+17.7%) Shares 612,696 (+13.3%)
YHB Investment Advisors, Inc.
Value ($000) $10,339 (+6.0%) Shares 318,518 (+2.1%)
Fiduciary Alliance LLC
Value ($000) $3,655 (+13.0%) Shares 112,596 (+8.8%)
LAZARD ASSET MANAGEMENT LLC
Value ($000) $36,664 (+2188.7%) Shares 1,129,543 (+43.1%)
Clearstead Advisors, LLC
Value ($000) $6,563 (+17.4%) Shares 202,195 (+13.1%)
UBS Group AG
Value ($000) $9,489 (+84.8%) Shares 292,337 (+78.0%)
STIFEL FINANCIAL CORP
Value ($000) $4,925 (+62.8%) Shares 151,720 (+56.7%)
KLINGENSTEIN FIELDS & CO LP
Value ($000) $5,083 (+5.6%) Shares 156,584 (+1.7%)
JPMORGAN CHASE & CO
Value ($000) $44,584 (+12.5%) Shares 1,373,501 (+8.3%)
MORGAN STANLEY
Value ($000) $4,434 (+54.1%) Shares 136,600 (+48.4%)
JANE STREET GROUP, LLC
Value ($000) $904 (+54.7%) Shares 27,838 (+49.0%)
JONES FINANCIAL COMPANIES LLLP
Value ($000) $1,434 (+26.2%) Shares 44,177 (+21.4%)
RAYMOND JAMES FINANCIAL INC
Value ($000) $2,707 (+7.8%) Shares 83,397 (+3.8%)

Decreased Positions (6)

Atlanta Consulting Group Advisors, LLC
Value ($000) $18,529 (+2.8%) Shares 570,814 (-1.0%)
Morse Asset Management, Inc
Value ($000) $2,136 (+0.1%) Shares 65,800 (-3.6%)
BANK OF AMERICA CORP /DE/
Value ($000) $85 (-64.2%) Shares 2,605 (-65.5%)
HighTower Advisors, LLC
Value ($000) $5,391 (+2.6%) Shares 166,087 (-1.2%)
LPL Financial LLC
Value ($000) $265 (-9.5%) Shares 8,150 (-12.8%)
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $211 (-2.0%) Shares 6,487 (-5.7%)

Exited Positions (5)

Ehrenkranz Partners L.P.
Value ($000) $23,270 Shares 744,416
OLD MISSION CAPITAL LLC
Value ($000) $854 Shares 27,327
CAPTRUST FINANCIAL ADVISORS
Value ($000) $1,416 Shares 45,300
Ameritas Advisory Services, LLC
Value ($000) $94 Shares 3,000
NEUBERGER BERMAN GROUP LLC
Value ($000) $583 Shares 18,663