# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-25-159906
**Filing Date:** 2025-6
**Character Count:** 44067
**Document Hash:** c563e6f8cc2f4e3a9e2a967daa023951
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-159906.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-159906

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**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:** 251079839

**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 Fundamental Emerging Markets ETF (Series ID: S000087783)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000253745 | Fidelity Fundamental Emerging Markets ETF | FFEM            |

## 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 Fundamental Emerging Markets ETF

- **b. EDGAR series identifier (if any):** S000087783

- **c. LEI of Series:** 254900YNQ1P3DHCLOE98

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $10186168.34

**Total Liabilities:** $4879.77

**Net Assets:** $10181288.57

**Cash Not Reported:** $36757.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253745 | 0.45%                | 0.93%                | 1.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-11592.70               | $50981.03                                  |
| Month 2  | $34775.55                | $33218.58                                  |
| Month 3  | $-50915.46               | $152945.05                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RAIA DROGASIL SA                                   | RAIA DROGASIL SA                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      7024 | NS      | $24555.50     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WAL MART DE MEXICO SAB DE CV                       | WAL MART DE MEXICO SAB DE CV V                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |     66003 | NS      | $209178.07    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TITAN CEMENT INTERNATIONAL TRADING SA              | TITAN CEMENT INTERNATIONAL TRADING SA                                                               | CUSIP: N/A<br>LEI: 213800H2CDP9I374WH83       | Long             | EC               | CORP              | BE        |      2553 | NS      | $117711.16    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORP                       | CHINA CONSTRUCTION BANK CORP H                                                                      | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |    150360 | NS      | $123690.86    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTEMPORARY AMPEREX TECHNOLOGY CO LTD             | CONTEMPORARY AMPEREX TECHNOLOGY CO LTD A                                                            | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |      1857 | NS      | $59121.83     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| DINO POLSKA SA                                     | DINO POLSKA SA                                                                                      | CUSIP: N/A<br>LEI: 259400H4L81SMPRTW956       | Long             | EC               | CORP              | PL        |       467 | NS      | $65333.17     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                         | SAMSUNG ELECTRONICS CO LTD                                                                          | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     11187 | NS      | $435881.62    | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCALIZA RENT A CAR SA                             | LOCALIZA RENT A CAR SA                                                                              | CUSIP: N/A<br>LEI: 984500C442A7E0CD4D11       | Long             | EC               | CORP              | BR        |     11834 | NS      | $89581.53     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| KT CORP                                            | KT CORP                                                                                             | CUSIP: N/A<br>LEI: 9884005ACF8449EANY26       | Long             | EC               | CORP              | KR        |       942 | NS      | $34256.47     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ABU DHABI COMMERCIAL BANK                          | ABU DHABI COMMERCIAL BANK                                                                           | CUSIP: N/A<br>LEI: 213800RWVKKIRX1AUH58       | Long             | EC               | CORP              | AE        |      7659 | NS      | $24271.59     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FOMENTO ECONOMICO MEXICANO SAB DE CV               | FOMENTO ECONO MEXI(FEMSA) UBD (REPRESENTS 1 FEMSA CL B SHR 2 FEMSA CL DB SHRS AND 2 FEMSACL DL SHS) | CUSIP: N/A<br>LEI: 549300A8MDWDJNMLV153       | Long             | EC               | CORP              | MX        |      3809 | NS      | $40083.80     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| COPA HOLDINGS SA                                   | COPA HOLDINGS SA CL A                                                                               | CUSIP: N/A<br>LEI: 529900BB9UQJV6QQHA59       | Long             | EC               | CORP              | PA        |       144 | NS      | $13213.44     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC GAS PLC                                      | ADNOC GAS PLC                                                                                       | CUSIP: N/A<br>LEI: 254900O5NS03BDOOM362       | Long             | EC               | CORP              | AE        |    132263 | NS      | $114148.65    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG HEAVY INDUSTRIES CO LTD                    | SAMSUNG HEAVY INDS CO LTD                                                                           | CUSIP: N/A<br>LEI: 988400OSK0T9LDTWNC20       | Long             | EC               | CORP              | KR        |       779 | NS      | $7968.18      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA JUSHI CO LTD                                 | CHINA JUSHI CO LTD A                                                                                | CUSIP: N/A<br>LEI: 300300JZBQ0FKI1TDH04       | Long             | EC               | CORP              | CN        |      8100 | NS      | $13066.76     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AYALA LAND INC                                     | AYALA LAND INC                                                                                      | CUSIP: N/A<br>LEI: 254900EWT10TQ6DKTV34       | Long             | EC               | CORP              | PH        |     89885 | NS      | $40357.39     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ZAI LAB LTD                                        | ZAI LAB LTD                                                                                         | CUSIP: N/A<br>LEI: 549300P2UYQ9U5LY1T58       | Long             | EC               | CORP              | KY        |     11456 | NS      | $36189.59     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN ENERGY HLDGS LTD                               | ENN ENERGY HOLDINGS LTD                                                                             | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | KY        |      3539 | NS      | $28086.22     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ECLAT TEXTILE CO LTD                               | ECLAT TEXTILE CO LTD                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |       831 | NS      | $10735.30     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ASE TECHNOLOGY HOLDING CO LTD                      | ASE TECHNOLOGY HOLDING CO LTD                                                                       | CUSIP: N/A<br>LEI: 300300GO8QHPMV87NZ73       | Long             | EC               | CORP              | TW        |      6984 | NS      | $29529.50     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDICORP LTD                                      | CREDICORP LTD                                                                                       | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |       627 | NS      | $126773.13    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIATEK INC                                       | MEDIA TEK INC                                                                                       | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |      2287 | NS      | $96341.31     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KUNLUN ENERGY COMPANY LTD                          | KUNLUN ENERGY COMPANY LTD                                                                           | CUSIP: N/A<br>LEI: 5299007GRIKP15GM4927       | Long             | EC               | CORP              | BM        |     31326 | NS      | $29889.68     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA LIFE INSURANCE CO LTD                        | CHINA LIFE INS CO LTD H                                                                             | CUSIP: N/A<br>LEI: 549300J6TFLDXGH6S048       | Long             | EC               | CORP              | CN        |     58686 | NS      | $107450.26    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC DRILLING COMPANY PJSC                        | ADNOC DRILLING COMPANY PJSC                                                                         | CUSIP: N/A<br>LEI: 254900JPRSQL1PM0JV19       | Long             | EC               | CORP              | AE        |     81415 | NS      | $108610.96    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MERCHANTS BANK CO LTD                        | CHINA MERCHANTS BANK CO LTD H                                                                       | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58       | Long             | EC               | CORP              | CN        |     10456 | NS      | $57230.54     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                           | ITAU UNIBANCO HOLDING SA                                                                            | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |     24646 | NS      | $154516.56    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| GERDAU SA                                          | GERDAU SA PN                                                                                        | CUSIP: N/A<br>LEI: 254900YDV6SEQQPZVG24       | Long             | EC               | CORP              | BR        |     25526 | NS      | $67422.84     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORACION INMOBILIARIA VESTA SAB. DE CV.         | CORPORACION INMO VESTA SAB CV                                                                       | CUSIP: N/A<br>LEI: 4469000001BIRIFZJ959       | Long             | EC               | CORP              | MX        |     24054 | NS      | $65573.38     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| KAKAO CORP                                         | KAKAO CORP                                                                                          | CUSIP: N/A<br>LEI: 988400FTKUBQXKVZP434       | Long             | EC               | CORP              | KR        |       955 | NS      | $25644.65     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NU HOLDINGS LTD/CAYMAN ISLANDS                     | NU HOLDINGS LTD/CAYMAN ISLANDS                                                                      | CUSIP: N/A<br>LEI: 5493002DG1RHWK9W2X27       | Long             | EC               | CORP              | KY        |      3530 | NS      | $43877.90     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTOR TRANSFORMATOR ENERJI T                       | ASTOR TRANSFORMATOR ENERJI T                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TR        |     13412 | NS      | $35015.32     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HAIER SMART HOME CO LTD                            | HAIER SMART HOME CO LTD                                                                             | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |     39321 | NS      | $114328.81    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TAL ED GROUP                                       | TAL ED GROUP ADR                                                                                    | CUSIP: 874080104<br>LEI: 5493003PJZS0EC085V72 | Long             | EC               | CORP              | KY        |      4407 | NS      | $38561.25     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| KWEICHOW MOUTAI CO LTD                             | KWEICHOW MOUTAI CO LTD A                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |       238 | NS      | $50635.16     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| KB FINANCIAL GROUP INC                             | KB FINANCIAL GROUP INC                                                                              | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               | CORP              | KR        |       159 | NS      | $10068.52     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD CO LTD                                         | BYD COMPANY LTD H                                                                                   | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |      1896 | NS      | $90502.24     | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WUXI APPTEC CO LTD                                 | WUXI APPTEC CO LTD H                                                                                | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | CN        |      5526 | NS      | $42857.92     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM CHINA HOLDINGS INC                             | YUM CHINA HOLDINGS INC                                                                              | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |      1471 | NS      | $63709.01     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD                                      | HDFC BANK LTD SPON ADR                                                                              | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      5602 | NS      | $407209.38    | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MAKEMYTRIP LIMITED                                 | MAKEMYTRIP LIMITED                                                                                  | CUSIP: N/A<br>LEI: 529900DNT8HNJ7RYUO60       | Long             | EC               | CORP              | MU        |       890 | NS      | $93289.80     | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| HAPVIDA PARTICIPACOES E INVESTIMENTOS SA           | HAPVIDA PARTICIPACOES E INVESTIMENTOS SA                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     89475 | NS      | $36577.36     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD HOLDINGS INC                                   | PDD HOLDINGS INC ADR                                                                                | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      2011 | NS      | $212301.27    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                          | ALIBABA GROUP HOLDING LTD                                                                           | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |     24121 | NS      | $365441.42    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| OPAP SA                                            | GREEK ORG OF FOOTBL PROGNOC SA                                                                      | CUSIP: N/A<br>LEI: 213800M4NRGFJCI34834       | Long             | EC               | CORP              | GR        |      3540 | NS      | $78481.36     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK CENTRAL ASIA TBK PT                           | BANK CENTRAL ASIA                                                                                   | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |    395497 | NS      | $210256.69    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| XIAOMI CORP                                        | XIAOMI CORP B                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |      9993 | NS      | $64359.99     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| LARSEN and TOUBRO LTD                              | LARSEN and TOUBRO LTD GDR                                                                           | CUSIP: N/A<br>LEI: 3358003FR3JIC5FRXA90       | Long             | EC               | CORP              | IN        |      6610 | NS      | $259112.00    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| YAGEO CORP                                         | YAGEO CORP                                                                                          | CUSIP: N/A<br>LEI: 5493001P0TOZH7GGNQ21       | Long             | EC               | CORP              | TW        |      5010 | NS      | $71756.79     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| POWSZECHNA KASA OSZCZ BK SA                        | POWSZECHNA KASA OSZCZ BK SA                                                                         | CUSIP: N/A<br>LEI: P4GTT6GF1W40CVIMFR43       | Long             | EC               | CORP              | PL        |      5977 | NS      | $114453.02    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| EMEMORY TECHNOLOGY INC                             | EMEMORY TECHNOLOGY INC                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |       840 | NS      | $67232.50     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NASPERS LTD                                        | NASPERS LTD N SHS                                                                                   | CUSIP: N/A<br>LEI: 21380044BQ8812EEKT59       | Long             | EC               | CORP              | ZA        |       413 | NS      | $108622.58    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER CORP                                         | NAVER CORP                                                                                          | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | EC               | CORP              | KR        |        80 | NS      | $11260.72     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIP.COM GROUP LTD                                 | TRIP.COM GROUP LTD                                                                                  | CUSIP: N/A<br>LEI: 2549004RMYDSRQL4KW41       | Long             | EC               | CORP              | KY        |      1210 | NS      | $73015.63     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CHROMA ATE INC                                     | CHROMA ATE INC                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      3489 | NS      | $31844.87     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS PROPERTY MEXICO SA                        | PROLOGIS PROPERTY MEXICO SA                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |     13789 | NS      | $49114.59     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WEG SA                                             | WEG SA                                                                                              | CUSIP: N/A<br>LEI: 254900NKQV127YFRO022       | Long             | EC               | CORP              | BR        |      8673 | NS      | $68220.70     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LTD                                     | ICICI BANK LTD SPONS ADR                                                                            | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      9655 | NS      | $324021.80    | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPRITE HLDGS LTD                                 | SHOPRITE HLDGS LTD                                                                                  | CUSIP: N/A<br>LEI: 529900Q4O1EYP6NH5150       | Long             | EC               | CORP              | ZA        |      4387 | NS      | $67340.64     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN INSURANCE (GROUP) COMPANY OF CHINA LIMITED | PING AN INSURANCE CO LTD H                                                                          | CUSIP: N/A<br>LEI: 300300IP9S6FHQPKRN68       | Long             | EC               | CORP              | CN        |     12021 | NS      | $72228.92     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ALCHIP TECHNOLOGIES LTD                            | ALCHIP TECHNOLOGIES LTD                                                                             | CUSIP: N/A<br>LEI: 529900HKE9RIY07SLX84       | Long             | EC               | CORP              | KY        |       128 | NS      | $8487.53      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                                  | TENCENT HOLDINGS LTD                                                                                | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |     12962 | NS      | $797548.40    | 7.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SHENZHEN INOVANCE TECHNOLOGY CO LTD                | SHENZHEN INOVANCE TECHNOLOGY CO LTD A                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |      9870 | NS      | $97174.98     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT MUSIC ENTERTAINMENT GROUP                  | TENCENT MUSIC ENTERTAINMENT ADR                                                                     | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |      2758 | NS      | $37012.36     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BANK OF GREECE SA                         | NATIONAL BANK OF GREECE SA                                                                          | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |       374 | NS      | $3937.74      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG BIOLOGICS CO LTD                           | SAMSUNG BIOLOGICS CO LTD                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       111 | NS      | $81978.63     | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MFG CO LTD                    | TAIWAN SEMICONDUCTOR MFG CO LTD                                                                     | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |     38227 | NS      | $1083100.32   | 10.64%            |  |  |  | No            |                  1 | On Loan: No      |
| MTN GROUP LTD                                      | MTN GROUP LTD                                                                                       | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |      7941 | NS      | $52385.73     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| WEBTOON ENTERTAINMENT INC                          | WEBTOON ENTERTAINMENT INC                                                                           | CUSIP: 94845U105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1560 | NS      | $14040.00     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUATORIAL ENERGIA SA                              | EQUATORIAL ENERGIA SA                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     12798 | NS      | $83010.03     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHA SERVICES AND HOLDINGS SA                     | ALPHA SERVICES AND HOLDINGS SA                                                                      | CUSIP: N/A<br>LEI: 5299009N55YRQC69CN08       | Long             | EC               | CORP              | GR        |     10766 | NS      | $25953.65     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.COM INC                                         | JD.COM INC CL A                                                                                     | CUSIP: N/A<br>LEI: 549300HVTWB0GJZ16V92       | Long             | EC               | CORP              | KY        |      7229 | NS      | $119215.68    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD    | SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD A                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |      1659 | NS      | $50116.68     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                                          | UST BILLS 0% 06/05/2025                                                                             | CUSIP: 912797NP8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     20000 | PA      | $19917.75     | 0.20%             | 2025-06-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PRIO SA                                            | PRIO SA                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      6068 | NS      | $36043.50     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRTAC INTERNATIONAL GROUP                         | AIRTAC INTERNATIONAL GROUP                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |      2189 | NS      | $60109.21     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCADOLIBRE INC                                   | MERCADOLIBRE INC                                                                                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        20 | NS      | $46617.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| FULL TRUCK ALLIANCE CO LTD                         | FULL TRUCK ALLIANCE CO LTD ADR                                                                      | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | KY        |      4236 | NS      | $48120.96     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI MOTOR CO                                   | HYUNDAI MOTOR CO                                                                                    | CUSIP: N/A<br>LEI: 9884004RQX8PRBXQ8S60       | Long             | EC               | CORP              | KR        |        73 | NS      | $9768.05      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP BANK PLC                                       | OTP BANK (REG)                                                                                      | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |      2042 | NS      | $150319.56    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AL RAJHI BANK                                      | AL RAJHI BANKING and INVEST CORP                                                                    | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |      7129 | NS      | $185117.00    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD ASHANTI PLC                              | ANGLOGOLD ASHANTI PLC                                                                               | CUSIP: N/A<br>LEI: 2138005YDSA7A82RNU96       | Long             | EC               | CORP              | GB        |      2885 | NS      | $120370.86    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BIZLINK HOLDING INC                                | BIZLINK HOLDING INC                                                                                 | CUSIP: N/A<br>LEI: 213800YAKRFVU5XOX138       | Long             | EC               | CORP              | KY        |       640 | NS      | $10724.25     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HANSOH PHARMACEUTICAL GROUP CO LTD                 | HANSOH PHARMACETICAL GROUP                                                                          | CUSIP: N/A<br>LEI: 254900Q6MR00EBXTPF42       | Long             | EC               | CORP              | KY        |     23734 | NS      | $73751.79     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| MEITUAN                                            | MEITUAN CL B                                                                                        | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |      4278 | NS      | $71873.67     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL GAMES SYSTEM CO LTD                  | INTERNATIONAL GAMES SYS CO LTD                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |       885 | NS      | $22976.25     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| INFOSYS LTD                                        | INFOSYS LTD SPON ADR                                                                                | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      2038 | NS      | $35868.80     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEYUAN ELECTRIC CO LTD A                          | SIEYUAN ELECTRIC CO LTD A                                                                           | CUSIP: N/A<br>LEI: 836800H6UQQUWN4PSZ32       | Long             | EC               | CORP              | CN        |      6100 | NS      | $60376.27     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| HIWIN TECHNOLOGIES CORP                            | HIWIN TECHNOLOGIES CORP                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      2916 | NS      | $20018.10     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| E INK HOLDINGS INC                                 | E INK HOLDINGS INC                                                                                  | CUSIP: N/A<br>LEI: 529900UOR451FJJYL571       | Long             | EC               | CORP              | TW        |      4350 | NS      | $30133.87     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SK HYNIX INC                                       | SK HYNIX INC                                                                                        | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |      1390 | NS      | $173210.85    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CD PROJEKT SA                                      | CD PROJEKT RED SA                                                                                   | CUSIP: N/A<br>LEI: 259400TYO5Q8SH8TL437       | Long             | EC               | CORP              | PL        |       102 | NS      | $6284.85      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KASPI/KZ JSC                                       | KASPI/KZ JSC SPON ADR                                                                               | CUSIP: 48581R205<br>LEI: 2549003YU6FARG8OAZ13 | Long             | EC               | CORP              | KZ        |       380 | NS      | $33398.20     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEO BRASILEIRO-PETROBRAS                      | PETROBRAS PN (PFD REG)                                                                              | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |      2415 | NS      | $12761.93     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB FOODS INC                                      | BBB FOODS INC                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |       703 | NS      | $21483.68     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE SA                                            | VALE S.A.                                                                                           | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |     14020 | NS      | $130586.36    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                            | RELIANCE INDS GDR                                                                                   | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |      5765 | NS      | $376454.50    | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTRAND LIMITED                                  | FIRSTRAND LIMITED                                                                                   | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |     14696 | NS      | $57381.65     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX SAB DE CV                                    | CEMEX SA DE CV CPO                                                                                  | CUSIP: N/A<br>LEI: 549300RIG2CXWN6IV731       | Long             | EC               | CORP              | MX        |     66755 | NS      | $41188.93     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA AEROSPACE INDUSTRIES LTD                     | KOREA AEROSPACE INDUSTRIES LTD                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |      1733 | NS      | $100737.42    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITEC BANK HOLDINGS LTD                          | CAPITEC BANK HOLDINGS LIMITED                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | ZA        |       539 | NS      | $99738.72     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer