# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-003977
**Filing Date:** 2025-11
**Character Count:** 23412
**Document Hash:** 852438c67eac92fa3dee5e80caf6f42d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-003977.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001592900-25-003977

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22961
- **FILM NUMBER:** 251524559

**BUSINESS ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 3803 WEST CHESTER PIKE, SUITE 150
- **CITY:** NEWTOWN SQUARE
- **STATE:** PA
- **ZIP:** 19073

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Alpha Architect ETF Trust
- **DATE OF NAME CHANGE:** 20140428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empowered Funds ETF Trust
- **DATE OF NAME CHANGE:** 20131125

## Series and Classes Contracts Data

### Strive U.S. Energy ETF (Series ID: S000077126)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000237296 | Strive U.S. Energy ETF | DRLL            |

## Nport-Ex

---

| |
|:---|
| **STRIVE U.S. ENERGY ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **September 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8%** | **Shares** | **Value**  |
| **<u>Consumer Discretionary</u> - 0.7%** | |  |
| **Automotive Retail - 0.7%** |  |  |
| Murphy USA, Inc.  | 4829 | $1874908 |
| **<u>Energy</u> - 99.0%**<sup>(a)</sup> |  |  |
| **Integrated Oil & Gas - 48.1%**<sup>(a)</sup> |  |  |
| Chevron Corp.  | 361360 | 56115594 |
| Exxon Mobil Corp.  | 510150 | 57519413 |
| Occidental Petroleum Corp.  | 208008 | 9828378 |
|  |  | 123463385 |
| **Oil & Gas Exploration & Production - 34.7%**<sup>(a)</sup> |  |  |
| Antero Resources Corp. <sup>(b)</sup> | 84307 | 2829343 |
| APA Corp.  | 104364 | 2533958 |
| California Resources Corp.  | 19552 | 1039775 |
| Chord Energy Corp.  | 16430 | 1632649 |
| Civitas Resources, Inc.  | 23286 | 756795 |
| CNX Resources Corp. <sup>(b)</sup> | 38594 | 1239639 |
| Comstock Resources, Inc. <sup>(b)</sup> | 19345 | 383611 |
| ConocoPhillips  | 116706 | 11039221 |
| Coterra Energy, Inc.  | 215720 | 5101778 |
| Crescent Energy Co. - Class A  | 53376 | 476114 |
| Devon Energy Corp.  | 185249 | 6494830 |
| Diamondback Energy, Inc.  | 54755 | 7835441 |
| EOG Resources, Inc.  | 93567 | 10490732 |
| EQT Corp.  | 180079 | 9801700 |
| Expand Energy Corp.  | 67275 | 7147296 |
| Gulfport Energy Corp. <sup>(b)</sup> | 3945 | 713966 |
| Magnolia Oil & Gas Corp. - Class A  | 47572 | 1135544 |
| Matador Resources Co.  | 33346 | 1498236 |
| Murphy Oil Corp.  | 34542 | 981338 |
| Northern Oil & Gas, Inc.  | 23547 | 583966 |
| Ovintiv, Inc.  | 70435 | 2844165 |
| Permian Resources Corp.  | 176048 | 2253414 |
| Range Resources Corp.  | 63651 | 2395824 |
| Sable Offshore Corp. <sup>(b)</sup> | 19114 | 333730 |
| SM Energy Co.  | 28329 | 707375 |
| Texas Pacific Land Corp.  | 5514 | 5148091 |
| Viper Energy, Inc. - Class A  | 48455 | 1851950 |
|  |  | 89250481 |
| **Oil & Gas Refining & Marketing - 16.2%** |  |  |
| CVR Energy, Inc.  | 7297 | 266195 |
| HF Sinclair Corp.  | 43057 | 2253603 |
| Marathon Petroleum Corp.  | 65990 | 12718913 |
| PBF Energy, Inc. - Class A  | 23893 | 720852 |

---

------

---

| |
|:---|
| **STRIVE U.S. ENERGY ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **September 30, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 99.8% (CONTINUED)** | **Shares** | **Value**  |
| **Oil & Gas Refining & Marketing - 16.2% (Continued)** | | |
| Phillips 66  | 89616 | $12189568 |
| Valero Energy Corp.  | 78811 | 13418361 |
|  |  | 41567492 |
| **Total Energy** |  | 254281358 |
| **<u>Real Estate</u> - 0.1%** |  |  |
| **Real Estate Operating Companies - 0.1%** |  |  |
| Landbridge Co. LLC - Class A  | 6432 | 343147 |
| **TOTAL COMMON STOCKS** (Cost $264,805,421) |  | 256499413 |
| **SHORT-TERM INVESTMENTS** |  |  |
| **MONEY MARKET FUNDS - 0.2%** |  |  |
| First American Government Obligations Fund - Class X, 4.05%<sup>(c)</sup> | 451041 | 451041 |
| **TOTAL MONEY MARKET FUNDS** (Cost $451,041) |  | 451041 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $265,256,462**)** |  | $256950454 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(d)</sup> |  | (31066) |
| **TOTAL NET ASSETS - 100.0%** |  | $256919388 |

---

Percentages are stated as a percent of net assets.

LLC - Limited Liability Company

(a) <br> To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.

(b) <br> Non-income producing security.

(c) <br> The rate shown represents the 7-day annualized yield as of September 30, 2025.

(d) <br> Represents less than 0.05% of net assets.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

------

**STRIVE U.S. ENERGY ETF**

**Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)**

Strive U.S. Energy ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **Assets** | **Assets** | **Assets** | **Assets** | **Assets** |
| &nbsp;&nbsp;Common Stocks | $256499413 | $— | $— | $256499413 |
| &nbsp;&nbsp;Money Market Funds | 451041 |  |  | 451041 |
| **Total Investments** | $256950454 | $**—** | $**—** | $256950454 |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

During the fiscal period ended September 30, 2025, the Strive U.S. Energy ETF did not invest in any Level 3 investments and recognized no transfers to/from Level 3. Transfers between levels are recognized at the end of the reporting period.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** EA Series Trust

- **b. Investment Company Act file number:** 811-22961

- **c. CIK number of Registrant:** 0001592900

- **d. LEI of Registrant:** 5493004OW9VWINAYRX18

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

  - **Street Address 1:** 3803 West Chester Pike

  - **City:** Newtown Square

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19073

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Strive U.S. Energy ETF

- **b. EDGAR series identifier (if any):** S000077126

- **c. LEI of Series:** 549300BKEQYS7E0Y9197

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $257007913.24

**Total Liabilities:** $88303.75

**Net Assets:** $256919609.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237296 | 2.79%                | 4.58%                | -0.62%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2252220.10             | $6559936.70                                |
| Month 2  | $314711.11               | $9590383.05                                |
| Month 3  | $-447971.79              | $-1247254.71                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PBF Energy Inc                             | PBF Energy Inc                             | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |     23893 | NS      | $720851.81    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                                | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     89616 | NS      | $12189568.32  | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                     | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     54755 | NS      | $7835440.50   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                     | Permian Resources Corp                     | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    176048 | NS      | $2253414.40   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc                      | Civitas Resources Inc                      | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |     23286 | NS      | $756795.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Oil & Gas Corp                    | Magnolia Oil & Gas Corp                    | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47572 | NS      | $1135543.64   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                                | Ovintiv Inc                                | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70435 | NS      | $2844165.30   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp                  | California Resources Corp                  | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     19552 | NS      | $1039775.36   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                          | Chord Energy Corp                          | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     16430 | NS      | $1632649.10   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp                    | Texas Pacific Land Corp                    | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5514 | NS      | $5148090.96   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                                   | APA Corp                                   | CUSIP: 03743Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104364 | NS      | $2533957.92   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                         | Expand Energy Corp                         | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     67275 | NS      | $7147296.00   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Sable Offshore Corp                        | Sable Offshore Corp                        | CUSIP: 78574H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19114 | NS      | $333730.44    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp                       | Gulfport Energy Corp                       | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |      3945 | NS      | $713966.10    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| HF Sinclair Corp                           | HF Sinclair Corp                           | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43057 | NS      | $2253603.38   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Energy Co                         | Crescent Energy Co                         | CUSIP: 44952J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53376 | NS      | $476113.92    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Landbridge Co LLC                          | Landbridge Co LLC                          | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6432 | NS      | $343147.20    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Inc                           | Viper Energy Inc                           | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48455 | NS      | $1851950.10   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   2460899 | PA      | $2460899.07   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                    | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     65990 | NS      | $12718912.60  | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc                             | Murphy USA Inc                             | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      4829 | NS      | $1874907.54   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                         | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     78811 | NS      | $13418360.86  | 5.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                          | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    185249 | NS      | $6494829.94   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                               | SM Energy Co                               | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |     28329 | NS      | $707375.13    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                   | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    180079 | NS      | $9801699.97   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy Oil Corp                            | Murphy Oil Corp                            | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |     34542 | NS      | $981338.22    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                  | Occidental Petroleum Corp                  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |    208008 | NS      | $9828378.00   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                             | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    116706 | NS      | $11039220.54  | 4.30%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                          | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     93567 | NS      | $10490732.04  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                         | Coterra Energy Inc                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    215720 | NS      | $5101778.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Comstock Resources Inc                     | Comstock Resources Inc                     | CUSIP: 205768302<br>LEI: I03QQGEA4SS774AURI46 | Long             | EC               | CORP              | US        |     19345 | NS      | $383611.35    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX Resources Corp                         | CNX Resources Corp                         | CUSIP: 12653C108<br>LEI: 549300JK3KH8PWM3B226 | Long             | EC               | CORP              | US        |     38594 | NS      | $1239639.28   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CVR Energy Inc                             | CVR Energy Inc                             | CUSIP: 12662P108<br>LEI: 529900SOYZIXZBTXB558 | Long             | EC               | CORP              | US        |      7297 | NS      | $266194.56    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                      | Antero Resources Corp                      | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     84307 | NS      | $2829342.92   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                               | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    361360 | NS      | $56115594.40  | 21.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                       | Matador Resources Co                       | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     33346 | NS      | $1498235.78   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                           | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    510150 | NS      | $57519412.50  | 22.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                       | Range Resources Corp                       | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     63651 | NS      | $2395823.64   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil & Gas Inc                     | Northern Oil & Gas Inc                     | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     23547 | NS      | $583965.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer