# EDGAR Filing Document

**Accession Number:** 0001760588
**File Stem:** 0001752724-25-182617
**Filing Date:** 2025-7
**Character Count:** 35456
**Document Hash:** 6760c52d5d4f1258b0f187f6cb977447
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182617.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182617

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zacks Trust
- **CENTRAL INDEX KEY:** 0001760588

**ORGANIZATION NAME:**
- **EIN:** 836534641
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23435
- **FILM NUMBER:** 251162386

**BUSINESS ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-265-9359

**MAIL ADDRESS:**
- **STREET 1:** 227 WEST MONROE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Series and Classes Contracts Data

### Zacks Small-Cap Core Fund (Series ID: S000081341)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000244049 | Zacks Small-Cap Core Fund Investor Class Shares      |  |
| C000244050 | Zacks Small-Cap Core Fund Institutional Class Shares |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Zacks Trust

- **b. Investment Company Act file number:** 811-23435

- **c. CIK number of Registrant:** 0001760588

- **d. LEI of Registrant:** 549300OYEV0F3420ER30

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

  - **Street Address 1:** 227 West Monroe Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-265-9359

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

- **a. Name of Series:** Zacks Small-Cap Core Fund

- **b. EDGAR series identifier (if any):** S000081341

- **c. LEI of Series:** 529900M99CAU3KTPVB41

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $29688012.68

**Total Liabilities:** $2111813.11

**Net Assets:** $27576199.57

**Cash Not Reported:** $173.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000244049 | -6.66%               | -1.15%               | 5.77%                |
| Class ID C000244050 | -6.68%               | -1.12%               | 5.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $189.73                  | $-2026492.52                               |
| Month 2  | $-128694.92              | $-211680.93                                |
| Month 3  | $-26824.67               | $1545546.31                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LifeStance Health Group Inc                | LIFESTANCE HEALT          | CUSIP: 53228F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34020 | NS      | $202078.80    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Potlatchdeltic Corp.                       | POTLATCHDELTIC C          | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     11540 | NS      | $453983.60    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc.                         | PC CONNECTION             | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |       930 | NS      | $60822.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc.                | ONE LIBERTY PROPERTIES IN | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |     19958 | NS      | $488571.84    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc.                               | SI-BONE INC               | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |      7482 | NS      | $141409.80    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Limited                          | GOLAR LNG LTD             | CUSIP: G9456A100<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |      5588 | NS      | $230002.08    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MidWestOne Financial Group Inc.            | MIDWESTONE FINAN          | CUSIP: 598511103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3544 | NS      | $101890.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International Inc.                     | NPK INTERNATIONA          | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |     17862 | NS      | $144503.58    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Liveramp Holdings Inc                      | LIVERAMP HOLDING          | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |      7886 | NS      | $256925.88    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital City Bank Group Inc.               | CAP CITY BANK             | CUSIP: 139674105<br>LEI: 254900NVLVUJQZKTQE82 | Long             | EC               | CORP              | US        |      6792 | NS      | $256330.08    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Aveanna Healthcare Holdings Inc            | AVEANNA HEALTHCA          | CUSIP: 05356F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32300 | NS      | $172159.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Olo Inc.                                   | OLO INC - CL A            | CUSIP: 68134L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61377 | NS      | $534593.67    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| OppFi Inc                                  | OPPFI INC                 | CUSIP: 68386H103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38585 | NS      | $488871.95    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                           | STONEX GROUP INC          | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      1854 | NS      | $156950.37    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Intapp Inc                                 | INTAPP INC                | CUSIP: 45827U109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8027 | NS      | $442448.24    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Bancorp Inc.                       | HORIZON BANCORP           | CUSIP: 440407104<br>LEI: 549300U2OQ2EIT5MXG39 | Long             | EC               | CORP              | US        |      6380 | NS      | $94679.20     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HilleVax Inc                               | HILLEVAX INC              | CUSIP: 43157M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92803 | NS      | $173541.61    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| First Business Financial Services Inc.     | FIRST BUSINESS F          | CUSIP: 319390100<br>LEI: 549300BXKLW2T50TKU95 | Long             | EC               | CORP              | US        |      9727 | NS      | $474385.79    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions Inc.                   | PERIMETER SOLUTI          | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15011 | NS      | $181182.77    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Amneal Pharmaceuticals Inc                 | AMNEAL PHARM INC          | CUSIP: 03168L105<br>LEI: 549300VV176ZO5WQHZ61 | Long             | EC               | CORP              | US        |     43364 | NS      | $317424.48    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Intrepid Potash Inc.                       | INTREPID POTASH           | CUSIP: 46121Y201<br>LEI: 549300OZ696E2PRRTO45 | Long             | EC               | CORP              | US        |      6716 | NS      | $253596.16    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp.                    | UNIVEST FINANCIA          | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |      9770 | NS      | $288410.40    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Guaranty Bancshares Inc. (Texas)           | GUARANTY BANCSHARES INC   | CUSIP: 400764106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11313 | NS      | $467679.42    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Independent Bank Corp Michigan             | INDEP BANK/MICH           | CUSIP: 453838609<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10433 | NS      | $328952.49    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc                    | ALEXANDER & BALD          | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30740 | NS      | $550553.40    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                | MAXIMUS INC               | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      2408 | NS      | $174604.08    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc.              | CASS INFORMATION          | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |      2825 | NS      | $119497.50    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Pursuit Attractions and Hospitality Inc    | PURSUIT ATTRACTI          | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |      9632 | NS      | $268636.48    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Bancorp Inc                          | UNITY BANCORP             | CUSIP: 913290102<br>LEI: 549300Q90ZRNUR65PL93 | Long             | EC               | CORP              | US        |      9255 | NS      | $409117.28    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Paysafe Limited                            | PAYSAFE LTD               | CUSIP: G6964L206<br>LEI: 2138003K6PVDCI5TBN11 | Long             | EC               | CORP              | BM        |     15560 | NS      | $192166.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc.                     | CRA INTERNATIONA          | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       918 | NS      | $174465.90    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BGC Group Inc                              | BGC GROUP INC-A           | CUSIP: 088929104<br>LEI: 2549001IGRCG4F0RLD36 | Long             | EC               | CORP              | US        |      5700 | NS      | $52896.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries, Inc.                 | GIBRALTAR INDUST          | CUSIP: 374689107<br>LEI: 549300AE5O3GN0YBLM57 | Long             | EC               | CORP              | US        |      5736 | NS      | $336014.88    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                              | FRONTDOOR INC             | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |      7330 | NS      | $403223.30    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus Corp                                | MARCUS CORP               | CUSIP: 566330106<br>LEI: 549300NL0OKPNEMP6B79 | Long             | EC               | CORP              | US        |     17140 | NS      | $316747.20    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| HBT Financial Inc.                         | HBT FINANCIAL IN          | CUSIP: 404111106<br>LEI: 549300NTXD4Q6UK5BY66 | Long             | EC               | CORP              | US        |     22702 | NS      | $531226.80    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartFinancial Inc.                        | SMARTFINANCIAL I          | CUSIP: 83190L208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6100 | NS      | $193858.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Sierra Bancorp                             | SIERRA BANCORP            | CUSIP: 82620P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3510 | NS      | $96068.70     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Everquote Inc                              | EVERQUOTE INC-A           | CUSIP: 30041R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14278 | NS      | $329107.90    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Bioventus Inc.                             | BIOVENTUS - A             | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51410 | NS      | $333136.80    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Bowman Consulting Group Ltd                | BOWMAN CONSULTIN          | CUSIP: 103002101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4865 | NS      | $121965.55    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation           | CARPENTER TECH            | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      2401 | NS      | $564235.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp.                         | PRIMO BRANDS COR          | CUSIP: 741623102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8050 | NS      | $266213.50    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Backblaze Inc                              | BACKBLAZE INC-A           | CUSIP: 05637B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19900 | NS      | $113430.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Skywest Inc                                | SKYWEST INC               | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |      1980 | NS      | $200871.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Phibro Animal Health Corporation           | PHIBRO ANIMAL-A           | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |     10985 | NS      | $268253.70    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Light & Wonder Inc                         | LIGHT & WONDER I          | CUSIP: 80874P109<br>LEI: 529900JXALYBOHXKFM62 | Long             | EC               | CORP              | US        |      2063 | NS      | $185917.56    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Enhabit Inc                                | ENHABIT INC               | CUSIP: 29332G102<br>LEI: 549300RFQ78SLDFSHF49 | Long             | EC               | CORP              | US        |     10682 | NS      | $112161.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Pipe Co.                         | NORTHWEST PIPE            | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |      5876 | NS      | $227048.64    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Accel Entertainment Inc                    | ACCEL ENTERTAINMENT INC   | CUSIP: 00436Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21500 | NS      | $241230.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkami Technology Inc.                     | ALKAMI TECHNOLOG          | CUSIP: 01644J108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7500 | NS      | $214800.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                          | FTAI AVIATION LT          | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      1900 | NS      | $222585.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercantile Bank Corp.                      | MERCANTILE BANK           | CUSIP: 587376104<br>LEI: P16VZZCKTJ5IONL6XE37 | Long             | EC               | CORP              | US        |      6923 | NS      | $305719.68    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| South Plains Financial Inc.                | SOUTH PLAINS FIN          | CUSIP: 83946P107<br>LEI: 549300SNEBP48642N493 | Long             | EC               | CORP              | US        |     10577 | NS      | $380454.69    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                | INSPIRE MEDICAL           | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |      1204 | NS      | $166392.80    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Adma Biologics Inc                         | ADMA BIOLOGICS I          | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21739 | NS      | $431301.76    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Shore Bancshares Inc.                      | SHORE BANCSHARES INC      | CUSIP: 825107105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25613 | NS      | $371132.37    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.                   | COMFORT SYSTEMS           | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      1165 | NS      | $557137.95    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Hospitality Corp                    | TARGET HOSPITALI          | CUSIP: 87615L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10400 | NS      | $76024.00     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Priority Technology Holdings Inc.          | PRIORITY TECHNOL          | CUSIP: 74275G107<br>LEI: 549300ZS6DXD7ROBKB40 | Long             | EC               | CORP              | US        |     14085 | NS      | $120145.05    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Potbelly Corporation                       | POTBELLY CORP             | CUSIP: 73754Y100<br>LEI: 54930027NUULUR2P5W11 | Long             | EC               | CORP              | US        |     10827 | NS      | $115524.09    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Unifirst Corp                              | UNIFIRST CORP/MA          | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |      2732 | NS      | $515145.92    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Nelnet Inc.                                | NELNET INC-CL A           | CUSIP: 64031N108<br>LEI: 549300T6B0Q52I6OM558 | Long             | EC               | CORP              | US        |      4023 | NS      | $467392.14    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                       | FED SIGNAL CORP           | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |      5899 | NS      | $554918.93    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PepGen Inc                                 | PEPGEN INC                | CUSIP: 713317105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38047 | NS      | $55548.62     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Therapeutics Inc.                   | SUMMIT THERAPEUT          | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4682 | NS      | $85282.63     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank7 Corp                                 | BANK7 CORP                | CUSIP: 06652N107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4238 | NS      | $163671.56    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc.              | WATTS WATER TE-A          | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      1471 | NS      | $356158.52    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy Inc.                     | EXCELERATE ENE-A          | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11934 | NS      | $335703.42    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure Inc          | SOLARIS ENERGY I          | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      4995 | NS      | $137012.85    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Group Sghc Limited                   | SUPER GROUP SGHC          | CUSIP: G8588X103<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |     15600 | NS      | $136344.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                    | AZZ INC                   | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      4207 | NS      | $381532.83    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PRA Group Inc.                             | PRA GROUP INC             | CUSIP: 69354N106<br>LEI: 549300Q5HW3JSSB86K27 | Long             | EC               | CORP              | US        |     13637 | NS      | $193509.03    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Oscar Health Inc                           | OSCAR HEALTH -A           | CUSIP: 687793109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18934 | NS      | $261289.20    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Company                       | HECLA MINING CO           | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |     24875 | NS      | $127857.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Business Travel Group inc           | GLOBAL BUSINESS           | CUSIP: 37890B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5409 | NS      | $33806.25     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First Mid Bancshares Inc.                  | FIRST MID BANCSH          | CUSIP: 320866106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7138 | NS      | $251828.64    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                                | GRAHAM CORP               | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |      3923 | NS      | $154683.89    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennant Group Inc                          | PENNANT GROUP             | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |      8270 | NS      | $237431.70    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp.                         | FB FINANCIAL COR          | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |      4323 | NS      | $188698.95    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers, Inc.                         | SAUL CENTERS INC          | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15134 | NS      | $509713.12    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Lionsgate Studios Corp.                    | LIONSGATE STUDIO          | CUSIP: 53626N102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     18294 | NS      | $132265.62    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                                | ALLIENT INC               | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     14895 | NS      | $452808.00    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cantaloupe Inc.                            | CANTALOUPE INC            | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |     26075 | NS      | $218247.75    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Custom Truck One Source Inc                | CUSTOM TRUCK ONE          | CUSIP: 23204X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6633 | NS      | $28521.90     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United Fire Group Inc                      | UNITED FIRE GROU          | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       864 | NS      | $24580.80     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Firstcash Holdings Inc                     | FIRSTCASH HOLDIN          | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3218 | NS      | $411614.38    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc.                | HURON CONSULTING          | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |      3543 | NS      | $506046.69    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Appian Corporation                         | APPIAN CORP-A             | CUSIP: 03782L101<br>LEI: 529900NIARIFW7HGU386 | Long             | EC               | CORP              | US        |     11700 | NS      | $368550.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Carriage Services, Inc.                    | CARRIAGE SERVICE          | CUSIP: 143905107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7334 | NS      | $319029.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc.                     | ESCO TECH INC             | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       980 | NS      | $177615.20    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Global Solutions Inc                 | CLIMB GLOBAL SOL          | CUSIP: 946760105<br>LEI: 549300LKM16VX2FG7J68 | Long             | EC               | CORP              | US        |       929 | NS      | $102352.58    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc.                                 | ADEIA INC                 | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5730 | NS      | $73573.20     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of N.T. Butterfield & Son Limited | BANK NT BUTTERFI          | CUSIP: G0772R208<br>LEI: 549300V8RVM0EMTDPF28 | Long             | EC               | CORP              | BM        |     12388 | NS      | $522278.08    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                     | SPX TECHNOLOGIES          | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3641 | NS      | $553759.69    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corporation                     | 1ST SOURCE CORP           | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8881 | NS      | $537833.36    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Marqeta Inc                                | MARQETA INC-A             | CUSIP: 57142B104<br>LEI: 254900UZARK0FMZGZE18 | Long             | EC               | CORP              | US        |     40195 | NS      | $216249.10    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Lendingtree Inc                            | LENDINGTREE INC           | CUSIP: 52603B107<br>LEI: 549300ISY5YHUJZTON08 | Long             | EC               | CORP              | US        |      1700 | NS      | $59534.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR Holdings Inc.                          | QCR HOLDINGS INC          | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               | CORP              | US        |      3915 | NS      | $263479.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron, Inc.                                | ITRON INC                 | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      4888 | NS      | $565052.80    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-27

**Name of Applicant:** Zacks Trust

**Signature:** Edward Kelly

**Name of Signer:** Edward Kelly

**Title:** Assistant Treasurer