# EDGAR Filing Document

**Accession Number:** 0002013968
**File Stem:** 0000910472-26-001699
**Filing Date:** 2026-2
**Character Count:** 73506
**Document Hash:** f75882ee2eaf54c788a8435e3222cfd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-001699.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0000910472-26-001699

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Variable Funds Trust
- **CENTRAL INDEX KEY:** 0002013968

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23944
- **FILM NUMBER:** 26652574

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA ALL CAP VALUE SERIES (Series ID: S000087633)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000253501 | NAA ALL CAP VALUE SERIES |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** New Age Alpha Variable Funds Trust

- **b. Investment Company Act file number:** 811-23944

- **c. CIK number of Registrant:** 0002013968

- **d. LEI of Registrant:** 5299000HTJBNEG1Y8820

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

**Item A.2. Information about the Series.**

- **a. Name of Series:** NAA ALL CAP VALUE SERIES

- **b. EDGAR series identifier (if any):** S000087633

- **c. LEI of Series:** 529900Z0MB1WFQ538D81

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $89405938.81

**Total Liabilities:** $364271.11

**Net Assets:** $89041667.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253501 | 0.78%                | 1.98%                | -0.13%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $218396.84               | $455969.86                                 |
| Month 2  | $54692.61                | $1608503.41                                |
| Month 3  | $5356170.66              | $-5588776.22                               |

### Schedule of Portfolio Investments

| Name                                        | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABM Industries Inc.                         | ABM Industries, Inc.                               | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |      4505 | NS      | $190561.50    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                    | AT&T, Inc.                                         | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     26582 | NS      | $660296.88    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI Worldwide Inc                           | ACI Worldwide, Inc.                                | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |      2968 | NS      | $141900.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corporation                     | AdaptHealth Corporation                            | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8717 | NS      | $86821.32     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                           | Agree Realty Corporation                           | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |      2429 | NS      | $174960.87    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies, Inc.                   | Akamai Technologies, Inc.                          | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      4647 | NS      | $405450.75    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc.                     | Alarm.com Holdings, Inc.                           | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |      1877 | NS      | $95764.54     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Companies Inc.                   | Albertsons Companies, Inc.                         | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |     17393 | NS      | $298637.81    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corporation                           | Alcoa Corporation                                  | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |      6963 | NS      | $370013.82    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                          | Altria Group, Inc.                                 | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     10827 | NS      | $624284.82    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                            | Amazon.com, Inc.                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     11714 | NS      | $2703825.48   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                | Ameren Corporation                                 | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      6193 | NS      | $618432.98    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc.                  | American Assets Trust, Inc. REIT                   | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2802 | NS      | $53041.86     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.              | American Financial Group Inc                       | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      1802 | NS      | $246297.36    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                       | American Homes 4 Rent Class A                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |      7526 | NS      | $241584.60    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                  | American Tower Corporation                         | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      3569 | NS      | $626609.33    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.          | American Water Works Company, Inc.                 | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      4544 | NS      | $592992.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                 | Cencora, Inc.                                      | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      1841 | NS      | $621797.75    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                              | Ameris Bancorp                                     | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |      2423 | NS      | $179956.21    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                  | Amgen, Inc.                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      1917 | NS      | $627453.27    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                        | Elevance Health, Inc.                              | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1828 | NS      | $640805.40    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc. | Apollo Commercial Real Estate Finance, Inc.        | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |     11610 | NS      | $112384.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                  | Apple, Inc.                                        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     18929 | NS      | $5146037.94   | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptargroup Inc.                             | AptarGroup, Inc.                                   | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      2623 | NS      | $319901.08    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                                  | Arcosa, Inc.                                       | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |      1585 | NS      | $168517.20    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corporation                 | Ares Management Corporation Class A                | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      3661 | NS      | $591727.43    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc.                                | Autoliv, Inc.                                      | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |      2613 | NS      | $310163.10    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.             | Automatic Data Processing, Inc.                    | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2420 | NS      | $622496.60    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                          | Avista Corporation                                 | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |      3836 | NS      | $147839.44    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                        | Baker Hughes Company Class A                       | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13737 | NS      | $625582.98    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                       | Bank of America Corporation                        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     17231 | NS      | $947705.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK                                    | Bank OZK                                           | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |      4608 | NS      | $212060.16    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc.         | BellRing Brands, Inc.                              | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      3424 | NS      | $91523.52     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                | BioMarin Pharmaceutical, Inc.                      | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      3864 | NS      | $229637.52    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                             | Bio-Techne Corporation                             | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      5307 | NS      | $312104.67    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.         | Broadridge Financial Solutions, Inc.               | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      2666 | NS      | $594971.22    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                   | CNO Financial Group, Inc.                          | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      4002 | NS      | $169964.94    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Corporation                             | CTS Corporation                                    | CUSIP: 126501105<br>LEI: 549300YV1HQLBVHOI649 | Long             | EC               | CORP              | US        |      2214 | NS      | $94914.18     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                             | CVS Health Corporation                             | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      8230 | NS      | $653132.80    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.                | Cadence Design Systems, Inc.                       | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1967 | NS      | $614844.86    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp                | Topgolf Callaway Brands Corporation                | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |      4389 | NS      | $51219.63     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                       | Cardinal Health, Inc.                              | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      3129 | NS      | $643009.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Carters Inc.                                | Carter's, Inc.                                     | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               | CORP              | US        |      3234 | NS      | $104878.62    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                               | Centene Corporation                                | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     15087 | NS      | $620830.05    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                               | Chevron Corporation                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4374 | NS      | $666641.34    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                         | Cisco Systems, Inc.                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      8505 | NS      | $655140.15    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                              | Citigroup, Inc.                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      5840 | NS      | $681469.60    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                          | Coca-Cola Company (The)                            | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      9156 | NS      | $640095.96    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp.        | Cognizant Technology Solutions Corporation Class A | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      7394 | NS      | $613702.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc                         | Coinbase Global, Inc.                              | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |      2575 | NS      | $582310.50    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co.                       | Colgate-Palmolive Company                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      7874 | NS      | $622203.48    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                              | ConocoPhillips                                     | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      6776 | NS      | $634301.36    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation                | Costco Wholesale Corporation                       | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1135 | NS      | $978755.90    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                            | CoStar Group, Inc.                                 | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      9459 | NS      | $636023.16    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart (Maryland)                        | CubeSmart REIT                                     | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5562 | NS      | $200510.10    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                             | Deere & Company                                    | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1338 | NS      | $622932.66    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                        | Delta Air Lines, Inc.                              | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      8885 | NS      | $616619.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                  | Dexcom, Inc.                                       | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      6361 | NS      | $422179.57    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc.                   | Digital Realty Trust, Inc. REIT                    | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      4209 | NS      | $651174.39    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                         | Walt Disney Company (The)                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      5879 | NS      | $668853.83    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                             | Dollar Tree, Inc.                                  | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |      4701 | NS      | $578270.01    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc                   | DOUBLEVERIFY HOLDINGS INC COM                      | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4787 | NS      | $54763.28     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                            | Duke Energy Corporation                            | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      5428 | NS      | $636215.88    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                              | EPR Properties REIT                                | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      1683 | NS      | $83981.70     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                        | Eagle Materials, Inc.                              | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |       914 | NS      | $188905.52    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                                 | Ecolab, Inc.                                       | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      2409 | NS      | $632410.68    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings Inc                          | Enact Holdings, Inc.                               | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |      1089 | NS      | $43167.96     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Lifestyle Properties Inc             | Equity LifeStyle Properties, Inc. REIT             | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      3594 | NS      | $217832.34    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide, Inc.                     | Euronet Worldwide, Inc.                            | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      1701 | NS      | $129463.11    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                  | Evergy, Inc.                                       | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      7583 | NS      | $549691.67    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                | Exelon Corporation                                 | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     14023 | NS      | $611262.57    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                                | Exponent, Inc.                                     | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |      1039 | NS      | $72168.94     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc.                    | Extra Space Storage, Inc. REIT                     | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |      4633 | NS      | $603309.26    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                           | Exxon Mobil Corporation                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     10811 | NS      | $1300995.74   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                   | FNB Corp                                           | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     15599 | NS      | $266742.90    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FactSet Research Systems Inc.               | FactSet Research Systems, Inc.                     | CUSIP: 303075105<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | EC               | CORP              | US        |      1201 | NS      | $348518.19    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                      | Fair Isaac Corporation                             | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       343 | NS      | $579882.66    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                   | First Horizon Corporation                          | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     13654 | NS      | $326330.60    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                           | FirstEnergy Corporation                            | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     13593 | NS      | $608558.61    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Company                          | Ford Motor Company                                 | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               | CORP              | US        |     46848 | NS      | $614645.76    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc.            | Four Corners Property Trust, Inc.                  | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |      2616 | NS      | $60324.96     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Resources Inc.                     | Franklin Resources, Inc.                           | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |     10065 | NS      | $240452.85    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc.                       | Freeport-McMoRan, Inc.                             | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     13193 | NS      | $670072.47    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corporation                | Fulton Financial Corporation                       | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |     10675 | NS      | $206347.75    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corporation                            | GATX Corporation                                   | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |       653 | NS      | $110748.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation                | General Dynamics Corporation                       | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      1840 | NS      | $619454.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                                | General Electric Company                           | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2209 | NS      | $680438.27    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                           | Getty Realty Corporation                           | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |      2350 | NS      | $64319.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                        | Gilead Sciences, Inc.                              | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5208 | NS      | $639229.92    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Godaddy Inc                                 | GoDaddy, Inc.                                      | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      4479 | NS      | $555754.32    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                   | Goldman Sachs Group, Inc. (The)                    | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       733 | NS      | $644307.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Goosehead Insurance Inc                     | Goosehead Insurance, Inc.                          | CUSIP: 38267D109<br>LEI: 549300WH5MBIWHJ9XY95 | Long             | EC               | CORP              | US        |       748 | NS      | $55090.20     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Brick Partners Inc.                   | Green Brick Partners, Inc.                         | CUSIP: 392709101<br>LEI: 549300R7SCIV7FQI6T56 | Long             | EC               | CORP              | US        |      1155 | NS      | $72372.30     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Greif, Inc.                                 | Greif, Inc. Class A                                | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |      1094 | NS      | $74063.80     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive, Inc.                    | Group 1 Automotive, Inc.                           | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |       532 | NS      | $209235.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hanover Insurance Group, Inc.           | Hanover Insurance Group, Inc. (The)                | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |       888 | NS      | $162299.76    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                        | Hayward Holdings, Inc. Class A                     | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9243 | NS      | $142804.35    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                             | Home Depot, Inc. (The)                             | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      2551 | NS      | $877799.10    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                         | Houlihan Lokey, Inc.                               | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      1173 | NS      | $204324.87    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                 | Humana, Inc.                                       | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      2357 | NS      | $603698.41    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc.                  | Innovex International, Inc.                        | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |      2131 | NS      | $46604.97     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                           | Intel Corporation                                  | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     17954 | NS      | $662502.60    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.       | International Business Machines Corporation        | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      2125 | NS      | $629446.25    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc.                       | Invitation Homes, Inc.                             | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |     17763 | NS      | $493633.77    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc.                         | IQVIA Holdings, Inc.                               | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |      2792 | NS      | $629344.72    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares S&P 500 Value ETF                          | CUSIP: 464287408<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      2974 | NS      | $630696.18    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | iShares Russell 1000 Value ETF                     | CUSIP: 464287598<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      3004 | NS      | $631861.36    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                        | JPMorgan Chase & Company                           | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      2075 | NS      | $668606.50    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                           | Johnson & Johnson                                  | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3097 | NS      | $640924.15    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated             | Jones Lang LaSalle, Inc.                           | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |       976 | NS      | $328394.72    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                     | KBR, Inc.                                          | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |      5825 | NS      | $234165.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| L3 Harris Technologies Inc                  | L3Harris Technologies, Inc.                        | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      2238 | NS      | $657009.66    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corporation                            | Lear Corporation                                   | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      2140 | NS      | $245244.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                         | Leidos Holdings, Inc.                              | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      3343 | NS      | $603077.20    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                   | MGM Resorts International                          | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      6712 | NS      | $244920.88    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                              | Maplebear, Inc.                                    | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7130 | NS      | $320707.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                             | Match Group, Inc.                                  | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      8161 | NS      | $263518.69    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson Inc                                  | Matson, Inc.                                       | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |      1747 | NS      | $215841.85    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel, Inc.                                | Mattel, Inc.                                       | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |      8357 | NS      | $165802.88    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                 | Maximus, Inc.                                      | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      1578 | NS      | $136212.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| McCormick & Company, Incorporated           | McCormick & Company Inc Non-Voting Shares          | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Long             | EC               | CORP              | US        |      7725 | NS      | $526149.75    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                            | Merck & Company, Inc.                              | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      6573 | NS      | $691873.98    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Mister Car Wash Inc                         | Mister Car Wash, Inc.                              | CUSIP: 60646V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7871 | NS      | $43762.76     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                | Moelis & Company                                   | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |      2865 | NS      | $196940.10    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.                | Mondelez International, Inc. Class A               | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     11774 | NS      | $633794.42    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                              | Morgan Stanley                                     | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      3647 | NS      | $647451.91    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                             | Morningstar, Inc.                                  | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |       552 | NS      | $119955.12    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc.                                    | Nov, Inc. COM                                      | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |     16875 | NS      | $263756.25    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                | NNN REIT, Inc. REIT                                | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |      4718 | NS      | $186974.34    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc.                                 | NetApp, Inc.                                       | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |      5467 | NS      | $585461.03    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSCOUT Systems Inc.                       | NetScout Systems, Inc.                             | CUSIP: 64115T104<br>LEI: 5493005HZXZ3SPNVCV76 | Long             | EC               | CORP              | US        |      2910 | NS      | $78744.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc.                              | NEXTracker, Inc.                                   | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2412 | NS      | $210109.32    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                     | Nexstar Media Group, Inc.                          | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |       557 | NS      | $113098.85    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                 | Nutanix, Inc. CLASS A                              | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      5454 | NS      | $281917.26    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corporation                      | OGE Energy Corporation                             | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |      6498 | NS      | $277464.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                 | OFG Bancorp                                        | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | PR        |      2107 | NS      | $86344.86     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp.                          | Chord Energy Corporation                           | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      2688 | NS      | $249177.60    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                           | Omnicom Group, Inc.                                | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      7328 | NS      | $591736.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corporation                         | Oshkosh Corporation                                | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |      1541 | NS      | $193595.83    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                               | Owens Corning                                      | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      2852 | NS      | $319167.32    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                             | PPL Corporation                                    | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     17722 | NS      | $620624.44    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc.                   | Patterson-UTI Energy, Inc.                         | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     32937 | NS      | $201245.07    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                        | PayPal Holdings, Inc.                              | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     10419 | NS      | $608261.22    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc.                        | Payoneer Global, Inc.                              | CUSIP: 70451X104<br>LEI: 984500491C64C70FF033 | Long             | EC               | CORP              | US        |      8581 | NS      | $48225.22     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group, Inc.               | Penske Automotive Group, Inc.                      | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |       818 | NS      | $129481.22    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc.                             | Photronics, Inc.                                   | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |      4125 | NS      | $132000.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                     | Piper Sandler Cos                                  | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |       638 | NS      | $216734.98    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Price T Rowe Group Inc.                     | T Rowe Price Group, Inc.                           | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |      5817 | NS      | $595544.46    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.                    | Procter & Gamble Company (The)                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      5989 | NS      | $858283.59    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| PROG Holdings Inc.                          | PROG Holdings, Inc.                                | CUSIP: 74319R101<br>LEI: 549300DHYTLBOVRXIG52 | Long             | EC               | CORP              | US        |      3517 | NS      | $103716.33    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services Inc.           | Provident Financial Services, Inc.                 | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     10372 | NS      | $204847.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                             | Q2 Holdings, Inc.                                  | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |      2078 | NS      | $149948.48    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                               | QUALCOMM, Inc.                                     | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      3768 | NS      | $644516.40    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp.              | Quanex Building Products Corporation               | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |      3517 | NS      | $54091.46     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RXO Inc.                                    | RXO, Inc.                                          | CUSIP: 74982T103<br>LEI: 549300KL8CA6GP8XPM30 | Long             | EC               | CORP              | US        |     14497 | NS      | $183242.08    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.                | Raymond James Financial, Inc.                      | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |      3812 | NS      | $612169.08    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America, Incorporated  | Reinsurance Group of America, Inc.                 | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      1599 | NS      | $325332.54    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies Inc                    | Resideo Technologies, Inc.                         | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |      5285 | NS      | $185609.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc.              | Rexford Industrial Realty, Inc.                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |      7906 | NS      | $306120.32    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co                          | SEI Investments Company                            | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      1690 | NS      | $138613.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                                 | H2O America                                        | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2785 | NS      | $136437.15    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd.                                    | Schlumberger N.V.                                  | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     16270 | NS      | $624442.60    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc.              | Selective Insurance Group, Inc.                    | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |      2531 | NS      | $211768.77    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corporation International           | Service Corp International                         | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      2915 | NS      | $227282.55    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Servicenow Inc                              | ServiceNow, Inc.                                   | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      4041 | NS      | $619040.79    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Company                   | Simply Good Foods Company (The)                    | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7811 | NS      | $156844.88    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc.                         | Champion Homes, Inc.                               | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2523 | NS      | $213193.50    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Skywest Inc                                 | SkyWest, Inc.                                      | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |      1976 | NS      | $198410.16    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive, Inc.                      | Sonic Automotive, Inc.                             | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |      1339 | NS      | $82830.54     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.                      | Southwest Airlines Company                         | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     15909 | NS      | $657518.97    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc                 | Sprouts Farmers Market, Inc.                       | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      2710 | NS      | $215905.70    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                             | Starbucks Corporation                              | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      7507 | NS      | $632164.47    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation                | Stifel Financial Corporation                       | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      2087 | NS      | $261334.14    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                      | TJX Companies, Inc. (The)                          | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      4082 | NS      | $627036.02    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                             | T-Mobile US, Inc.                                  | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3208 | NS      | $651352.32    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradata Corp                               | Teradata Corporation                               | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |      5939 | NS      | $180783.16    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                   | Tesla, Inc.                                        | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      2736 | NS      | $1230433.92   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc.                                | Textron, Inc.                                      | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      5585 | NS      | $486844.45    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Companies, Inc.                   | Travelers Companies, Inc. (The)                    | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      2159 | NS      | $626239.54    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Trupanion Inc                               | Trupanion, Inc.                                    | CUSIP: 898202106<br>LEI: 549300J86GFKIDGMQP18 | Long             | EC               | CORP              | US        |      1040 | NS      | $38864.80     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                      | Truist Financial Corporation                       | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     12512 | NS      | $615715.52    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                               | US Bancorp                                         | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     11843 | NS      | $631942.48    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Unifirst Corp                               | UniFirst Corp                                      | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |       783 | NS      | $151040.70    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                     | UnitedHealth Group, Inc.                           | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2322 | NS      | $766515.42    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                  | Unum Group                                         | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |      4177 | NS      | $323717.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                      | Veeco Instruments, Inc.                            | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |      4392 | NS      | $125523.36    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                        | Vanguard Small-Cap Value ETF                       | CUSIP: 922908611<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |      2507 | NS      | $530957.53    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WD-40 Co.                                   | WD-40 Company                                      | CUSIP: 929236107<br>LEI: 549300UZHTN0CNKBOB19 | Long             | EC               | CORP              | US        |       457 | NS      | $89983.30     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                 | Walmart, Inc.                                      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     11236 | NS      | $1251802.76   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc.                        | Walker & Dunlop, Inc.                              | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3102 | NS      | $186585.30    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co.                           | Wells Fargo & Company                              | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      7061 | NS      | $658085.20    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corporation               | WillScot Holdings Corporation                      | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |      8510 | NS      | $160243.30    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                 | Workday, Inc. Class A                              | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      2834 | NS      | $608686.52    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                                 | Xylem Inc                                          | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      4499 | NS      | $612673.82    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                           | YETI Holdings, Inc.                                | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |      3087 | NS      | $136352.79    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                 | Zoetis, Inc.                                       | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      5087 | NS      | $640046.34    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | BBH Overnight Sweep                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    602863 | PA      | $602863.35    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                     | Arch Capital Group Ltd.                            | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |      6413 | NS      | $615134.96    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                           | Everest Group Ltd.                                 | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |      1309 | NS      | $444209.15    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc               | Weatherford International plc                      | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | US        |      1940 | NS      | $151824.40    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC          | Johnson Controls International plc                 | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | US        |      5223 | NS      | $625454.25    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Noble Corporation PLC                       | Noble Corp plc                                     | CUSIP: G65431127<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | US        |      5989 | NS      | $169129.36    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                                  | Chubb Ltd.                                         | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |      2053 | NS      | $640782.36    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                | LyondellBasell Industries N.V. Class A             | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |      8324 | NS      | $360429.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** New Age Alpha Variable Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President