# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-25-002912
**Filing Date:** 2025-12
**Character Count:** 35689
**Document Hash:** 793552ec782ca9f282e803e0cc640862
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002912.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000035402-25-002912

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 251599814

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity International High Dividend ETF (Series ID: S000059462)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000194895 | Fidelity International High Dividend ETF | FIDI            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity International High Dividend ETF

- **b. EDGAR series identifier (if any):** S000059462

- **c. LEI of Series:** 549300V1O2W9E2XS0R14

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $181482346.40

**Total Liabilities:** $29959.44

**Net Assets:** $181452386.96

**Cash Not Reported:** $86768.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194895 | 4.48%                | 1.26%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3.97                    | $6209449.48                                |
| Month 2  | $-42240.73               | $1417552.75                                |
| Month 3  | $-1.56                   | $473686.20                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALLIANZ SE                          | ALLIANZ SE (REGD)                   | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |      7184 | NS      | $2887195.29   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SSAB AB (SWD STL)                   | SSAB AB - CL B                      | CUSIP: N/A<br>LEI: 529900329VS14ZIML164       | Long             | EC               | CORP              | SE        |    631928 | NS      | $3934363.42   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AGC INC                             | AGC INC                             | CUSIP: N/A<br>LEI: JE4WFFEELMVPFZ0G1E77       | Long             | EC               | CORP              | JP        |     31300 | NS      | $979299.60    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO BANK NV                    | ABN AMRO BANK NV-GDR                | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               | CORP              | NL        |     87079 | NS      | $2604125.54   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| EIFFAGE SA                          | EIFFAGE SA (FORM FOUGEROLLE)        | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |      8298 | NS      | $1021924.76   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                   | HSBC HOLDINGS PLC                   | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |    274119 | NS      | $3829848.40   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC                   | JAPAN TOBACCO INC                   | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |    126500 | NS      | $4405390.93   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATIONAL RAILWAY CO        | CANADIAN NATL RAILWAY CO            | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      6499 | NS      | $623809.38    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                              | AXA SA                              | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               | CORP              | FR        |     48849 | NS      | $2121636.44   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ GROUP HOLDINGS LTD              | ANZ GROUP HOLDINGS LTD              | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |     72399 | NS      | $1737063.59   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC        | BRITISH AMERICAN TOBACCO PLC        | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     81664 | NS      | $4188767.40   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGAL AND GENERAL GROUP PLC         | LEGAL and GENERAL GROUP PLC ORD     | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |    529131 | NS      | $1653182.67   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                              | SAP SE                              | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      2359 | NS      | $611122.99    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS                         | BNP PARIBAS                         | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     27557 | NS      | $2132929.77   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL GRID PLC                   | NATIONAL GRID PLC                   | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    349545 | NS      | $5235446.59   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO-NORDISK AS                     | NOVO-NORDISK AS CL B                | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |     11422 | NS      | $557810.19    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TOYOTA MOTOR CORP                   | TOYOTA MOTOR CORP                   | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |     54535 | NS      | $1110842.43   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| ZURICH INSURANCE GROUP AG           | ZURICH INSURANCE GROUP AG           | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |      2991 | NS      | $2082801.62   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DAIWA SECURITIES GROUP INC          | DAIWA SECURITIES GROUP INC          | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |    280300 | NS      | $2164271.53   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MARUBENI CORP                       | MARUBENI CORP                       | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |     64000 | NS      | $1578656.97   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| RANDSTAD NV                         | RANDSTAD NV                         | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |     16903 | NS      | $663125.95    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CARREFOUR SA                        | CARREFOUR SA (SUPERMARCHE)          | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |    175022 | NS      | $2636235.62   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVARTIS AG                         | NOVARTIS AG (REG)                   | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      6725 | NS      | $831629.71    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TORONTO DOMINION BANK           | TORONTO-DOMINION BANK               | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |     33714 | NS      | $2770941.18   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| KYOCERA CORP                        | KYOCERA CORP                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     34200 | NS      | $455097.21    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUI and CO LTD                   | MITSUI and CO LTD                   | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |     58500 | NS      | $1443750.61   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL LTD                             | CSL LIMITED                         | CUSIP: N/A<br>LEI: 529900ECSECK5ZDQTE14       | Long             | EC               | CORP              | AU        |      2380 | NS      | $278114.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CAIXABANK SA                        | CAIXABANK SA                        | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    254616 | NS      | $2692508.29   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO CORP                       | SUMITOMO CORP                       | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |     42900 | NS      | $1249225.28   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCHE HOLDING AG                    | ROCHE HOLDINGS AG (GENUSSCHEINE)    | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      2467 | NS      | $795647.84    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ING GROEP NV                        | ING GROEP NV                        | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    107995 | NS      | $2707350.85   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR WIMPEY PLC                   | TAYLOR WIMPEY PLC                   | CUSIP: N/A<br>LEI: 21380089BTRXTD8S3R66       | Long             | EC               | CORP              | GB        |    319720 | NS      | $441907.46    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| OVERSEA-CHINESE BKG CORP LTD        | OVERSEA-CHINESE BKG CORP LTD        | CUSIP: N/A<br>LEI: 5493007O3QFXCPOGWK22       | Long             | EC               | CORP              | SG        |    137800 | NS      | $1803168.77   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION SOFTWARE INC          | CONSTELLATION SOFTWARE INC          | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |       109 | NS      | $287141.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPGEMINI SA                        | CAPGEMINI SA (FF40)                 | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               | CORP              | FR        |       870 | NS      | $134054.56    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                     | BAE SYSTEMS PLC                     | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               | CORP              | GB        |     68957 | NS      | $1695110.19   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| KERING SA                           | KERING                              | CUSIP: N/A<br>LEI: 549300VGEJKB7SVUZR78       | Long             | EC               | CORP              | FR        |      1533 | NS      | $542848.42    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                             | GSK PLC                             | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     23390 | NS      | $547164.59    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| KLEPIERRE SA                        | KLEPIERRE SA                        | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |    122381 | NS      | $4681096.26   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| BOUYGUES SA                         | BOUYGUES ORD                        | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |     23399 | NS      | $1056788.83   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| OPEN TEXT CORPORATION               | OPEN TEXT CORPORATION               | CUSIP: 683715106<br>LEI: 549300UQROQS42RKHM85 | Long             | EC               | CORP              | CA        |      8463 | NS      | $325014.47    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| RIO TINTO PLC                       | RIO TINTO PLC                       | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |     59402 | NS      | $4281566.15   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ADECCO GROUP AG                     | ADECCO GROUP AG                     | CUSIP: N/A<br>LEI: NI14Y5UMU60O7JE9P611       | Long             | EC               | CORP              | CH        |     36520 | NS      | $1019966.86   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MITSUBISHI CORP                     | MITSUBISHI CORP                     | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |     70800 | NS      | $1705946.58   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ORKLA ASA                           | ORKLA ASA                           | CUSIP: N/A<br>LEI: 549300PZS8G8RG6RVZ52       | Long             | EC               | CORP              | NO        |    273927 | NS      | $2780709.89   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON STEEL CORP                   | NIPPON STEEL CORP                   | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |    768700 | NS      | $3174994.71   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMONWEALTH BANK AUSTRALIA         | COMMONWEALTH BK OF AUSTRALIA        | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Long             | EC               | CORP              | AU        |     22092 | NS      | $2482348.27   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKEDA PHARMACEUTICAL CO LTD        | TAKEDA PHARMACEUTICAL CO LTD        | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |     17700 | NS      | $477154.91    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE | LVMH MOET HENNESSY LOUIS VUITTON SE | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |      1188 | NS      | $839305.15    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTELLAS PHARMA INC                 | ASTELLAS PHARMA INC                 | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |     42800 | NS      | $448267.18    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BRAMBLES LTD                        | BRAMBLES LTD                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     25156 | NS      | $409403.81    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                     | ASTRAZENECA PLC                     | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |      5986 | NS      | $980728.86    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                             | BASF SE                             | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               | CORP              | DE        |     73815 | NS      | $3645591.31   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPECTRIS PLC                        | SPECTRIS PLC                        | CUSIP: N/A<br>LEI: 213800Z4CO2CZO3M3T10       | Long             | EC               | CORP              | GB        |      3003 | NS      | $162001.88    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BAYERISCHE MOTOREN WERKE (BMW) AG   | BMW AG                              | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |      5211 | NS      | $485493.36    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIGIN ENERGY LTD                   | ORIGIN ENERGY LIMITED               | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |    551862 | NS      | $4425636.60   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CANON INC                           | CANON INC                           | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |     12300 | NS      | $353937.88    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BROTHER INDUSTRIES LTD              | BROTHER INDUSTRIES                  | CUSIP: 114813108<br>LEI: 549300O5FACQ67KI6R92 | Long             | EC               | CORP              | JP        |     19900 | NS      | $339664.73    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA             | BANK OF NOVA SCOTIA                 | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     32760 | NS      | $2150799.27   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| STELLANTIS NV                       | STELLANTIS NV                       | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |     32162 | NS      | $325851.48    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LINK REIT                           | LINK REAL ESTATE INVESTMENT TR      | CUSIP: N/A<br>LEI: 529900XUE70U36QX5M62       | Long             | EC               | CORP              | HK        |    787500 | NS      | $4101541.39   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN PACIFIC KANSAS CITY LTD    | CANADIAN PACIFIC KANSAS CITY LTD    | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      9573 | NS      | $689578.48    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WESFARMERS LTD                      | WESFARMERS LTD                      | CUSIP: N/A<br>LEI: 5493003L32ZX9557ST85       | Long             | EC               | CORP              | AU        |     11412 | NS      | $627552.73    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL SPA                            | ENEL (ENTE NAZ ENERG ELET) SPA      | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    594146 | NS      | $6015515.78   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE CORP           | BROOKFIELD RENEWABLE CORP           | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | CA        |    119676 | NS      | $5186258.94   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust        | Fidelity Cash Central Fund          | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     43275 | NS      | $43284.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DCC PLC                             | DCC PLC                             | CUSIP: N/A<br>LEI: 213800UPS1QEE4TD3T45       | Long             | EC               | CORP              | IE        |     12942 | NS      | $851892.72    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS AG                          | SIEMENS AG (REGD)                   | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |      5072 | NS      | $1437474.84   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NUTRIEN LTD                         | NUTRIEN LTD                         | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     74381 | NS      | $4055215.07   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                 | IMPERIAL BRANDS PLC                 | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |     84961 | NS      | $3376686.81   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| DHL GROUP                           | DHL GROUP                           | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |     13300 | NS      | $610964.23    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB            | SVENSKA HANDELSBANKEN SER A         | CUSIP: N/A<br>LEI: NHBDILHZTYCNBV5UYZ31       | Long             | EC               | CORP              | SE        |    173114 | NS      | $2274144.41   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HALEON PLC                          | HALEON PLC                          | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |     69198 | NS      | $321932.82    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JARDINE MATHESON HOLDINGS LTD       | JARDINE MATHESON HLD                | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | BM        |      9300 | NS      | $546375.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HONDA MOTOR CO LTD                  | HONDA MOTOR CO LTD                  | CUSIP: N/A<br>LEI: 549300P7ZYCQJ36CCS16       | Long             | EC               | CORP              | JP        |     53200 | NS      | $538716.69    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MAZDA MOTOR CORP                    | MAZDA MOTOR CORP                    | CUSIP: N/A<br>LEI: 52990044YZJLICDQKK92       | Long             | EC               | CORP              | JP        |     58700 | NS      | $408467.11    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX CORP                           | ORIX CORP                           | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |     98000 | NS      | $2391873.03   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| VOLVO AB                            | VOLVO AB SER B                      | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               | CORP              | SE        |     46422 | NS      | $1281281.43   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LTD         | NATIONAL AUSTRALIA BANK LTD         | CUSIP: N/A<br>LEI: F8SB4JFBSYQFRQEH3Z21       | Long             | EC               | CORP              | AU        |     61412 | NS      | $1753670.81   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| WILMAR INTERNATIONAL LTD            | WILMAR INTERNATIONAL LTD            | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |   1086000 | NS      | $2611840.64   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HANG SENG BANK LTD                  | HANG SENG BANK LTD                  | CUSIP: N/A<br>LEI: 5493009Z5F07LWZYMK62       | Long             | EC               | CORP              | HK        |    115900 | NS      | $2260677.80   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTESCUE LTD                       | FORTESCUE LTD                       | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |    305354 | NS      | $4255870.91   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                 | INTESA SANPAOLO SPA                 | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |    536050 | NS      | $3449920.88   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTSERVICE CORP                   | FIRSTSERVICE CORP                   | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     16023 | NS      | $2553113.50   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                     | ASML HOLDING NV                     | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       920 | NS      | $974897.34    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES US                      | MSCI EAFE FUT DEC25 MFSZ5           | CUSIP: N/A<br>LEI: 5493004R83R1LVX2IL36       | N/A              | DE               | CORP              | US        |         8 | NC      | $7604.65      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AENA SME SA                         | AENA SME SA                         | CUSIP: N/A<br>LEI: 959800R7QMXKF0NFMT29       | Long             | EC               | CORP              | ES        |     35592 | NS      | $967440.75    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| INVINCIBLE INVESTMENT CORP          | INVINCIBLE INVESTMENT CORP          | CUSIP: N/A<br>LEI: 353800JY6M2692VAV685       | Long             | EC               | CORP              | JP        |      8690 | NS      | $3886540.52   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL QUE                | BANK OF MONTREAL                    | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               | CORP              | CA        |     17485 | NS      | $2174222.28   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                           | UST BILLS 0% 11/13/2025             | CUSIP: 912797QQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     29000 | PA      | $28968.88     | 0.02%             | 2025-11-13      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ALCON INC                           | ALCON INC                           | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               | CORP              | CH        |      2703 | NS      | $201357.09    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCEDES-BENZ GROUP AG              | MERCEDES-BENZ GROUP AG              | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |      7913 | NS      | $513376.31    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NESTLE SA                           | NESTLE SA (REG)                     | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     48317 | NS      | $4627357.16   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VINCI SA                            | VINCI SA                            | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |      9039 | NS      | $1209163.12   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                              | SANOFI                              | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      5146 | NS      | $520301.36    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BANK OF CANADA                | ROYAL BANK OF CANADA                | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     20575 | NS      | $3017196.77   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| TOKIO MARINE HOLDINGS INC           | TOKIO MARINE HOLDINGS INC           | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |     71300 | NS      | $2676035.18   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NOKIA CORP                          | NOKIA OYJ                           | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |     32248 | NS      | $218261.84    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| M and G PLC                         | M and G PLC                         | CUSIP: N/A<br>LEI: 254900TWUJUQ44TQJY84       | Long             | EC               | CORP              | GB        |    563741 | NS      | $1950187.05   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SWISS RE AG                         | SWISS RE LTD                        | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               | CORP              | CH        |      9719 | NS      | $1774905.51   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer