# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-23-000111
**Filing Date:** 2023-3
**Character Count:** 24491
**Document Hash:** ba171e415aa0e1f5ecd5d4a461f57b7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-23-000111.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001592900-23-000111

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EA Series Trust
- **CENTRAL INDEX KEY:** 0001592900
- **IRS NUMBER:** 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:** 23691754

**BUSINESS ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083
- **BUSINESS PHONE:** 1.215.882.9983

**MAIL ADDRESS:**
- **STREET 1:** 19 E EAGLE ROAD
- **CITY:** HAVERTOWN
- **STATE:** PA
- **ZIP:** 19083

**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

### Gadsden Dynamic Multi-Asset ETF (Series ID: S000069668)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000222207 | Gadsden Dynamic Multi-Asset ETF | GDMA            |

## Nport-Ex

---

| |
|:---|
| **Gadsden Dynamic Multi-Asset ETF** |
| **Schedule of Investments** |
| **December 31, 2022 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| **COMMON STOCKS - 5.5%** | **COMMON STOCKS - 5.5%** | |
| **Aerospace & Defense - 2.3%** | **Aerospace & Defense - 2.3%** | **Aerospace & Defense - 2.3%** |
| 2340 | Lockheed Martin Corp. | $1138387 |
| 2165 | Northrop Grumman Corp. | 1181246 |
| 11573 | Raytheon Technologies Corp. | 1167947 |
|  |  | 3487580 |
| **Household Products - 0.5%** | **Household Products - 0.5%** | **Household Products - 0.5%** |
| 5413 | Procter & Gamble Co. | 820394 |
| **Managed Health Care - 0.5%** | **Managed Health Care - 0.5%** | **Managed Health Care - 0.5%** |
| 1566 | UnitedHealth Group, Inc. | 830262 |
| **Oil & Gas Exploration & Production - 0.5%** | **Oil & Gas Exploration & Production - 0.5%** | **Oil & Gas Exploration & Production - 0.5%** |
| 6791 | ConocoPhillips | 801338 |
| **Oil & Gas Storage & Transportation - 0.5%** | **Oil & Gas Storage & Transportation - 0.5%** | **Oil & Gas Storage & Transportation - 0.5%** |
| 5096 | Cheniere Energy, Inc. | 764196 |
| **Pharmaceuticals - 0.6%** | **Pharmaceuticals - 0.6%** | **Pharmaceuticals - 0.6%** |
| 2536 | Eli Lilly & Co. | 927770 |
| **Soft Drinks - 0.5%** | **Soft Drinks - 0.5%** | **Soft Drinks - 0.5%** |
| 4685 | PepsiCo, Inc. | 846392 |
|  | TOTAL COMMON STOCKS (Cost $7,583,641) | 8477932 |
| **INVESTMENT COMPANIES - 94.0%** | **INVESTMENT COMPANIES - 94.0%** | **INVESTMENT COMPANIES - 94.0%** |
| 89264 | abrdn Physical Gold Shares ETF (a) | 1559442 |
| 47504 | AXS Short Innovation ETF (b) | 2589443 |
| 20245 | Consumer Staples Select Sector SPDR Fund (b) | 1509265 |
| 118653 | Direxion Daily FTSE China Bear 3X Shares (a) | 1410784 |
| 16912 | Health Care Select Sector SPDR Fund | 2297495 |
| 8184 | Invesco CurrencyShares Swiss Franc Trust (a) | 789838 |
| 416560 | Invesco DB U.S. Dollar Index Bullish Fund - Class B | 11584534 |
| 426896 | iShares 0-3 Month Treasury Bond ETF - Class B | 42749365 |
| 458703 | iShares Treasury Floating Rate Bond ETF | 23123218 |
| 9787 | ProShares Short Bitcoin Strategy ETF | 389425 |
| 328517 | ProShares Short High Yield | 6241823 |
| 135192 | ProShares Short MSCI EAFE | 2703840 |
| 213993 | ProShares UltraPro Short QQQ (b) | 11557762 |
| 30228 | ProShares UltraShort Bloomberg Crude Oil (a) | 720938 |
| 61301 | ProShares UltraShort Euro (a) | 1805314 |
| 243970 | ProShares UltraShort FTSE Europe | 3115497 |
| 12869 | ProShares VIX Mid-Term Futures ETF (a) | 390703 |
| 51520 | ProShares VIX Short-Term Futures ETF (a)(b) | 586298 |
| 318685 | Schwab Short-Term U.S. Treasury ETF | 15373364 |
| 221565 | Schwab U.S. TIPS ETF | 11474851 |
| 43427 | Utilities Select Sector SPDR Fund (b) | 3061604 |
|  | TOTAL INVESTMENT COMPANIES (Cost $145,074,797) | 145034803 |

---

---

| |
|:---|
| **Gadsden Dynamic Multi-Asset ETF** |
| **Schedule of Investments (Continued)** |
| **December 31, 2022 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.8%** | **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.8%** | **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.8%** |
| 8935166 | First American Government Obligations Fund - Class X, 4.08% (c) | $8935166 |
|  | TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $8,935,166) | 8935166 |
| **MONEY MARKET FUNDS - 0.5%** | **MONEY MARKET FUNDS - 0.5%** | **MONEY MARKET FUNDS - 0.5%** |
| 785158 | First American Government Obligations Fund - Class X, 4.08% (c) | 785158 |
|  | TOTAL MONEY MARKET FUNDS (Cost $785,158) | 785158 |
|  | TOTAL INVESTMENTS (Cost $162,378,762) - 105.8% | 163233059 |
|  | Other Liabilities in Excess of Assets - (5.8%) | (8967265) |
|  | TOTAL NET ASSETS - 100.0% | $154265794 |

---

---

| | |
|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Non-income producing security. |
| (b) | This security or a portion of this security was out on loan as of December 31, 2022. Total loaned securities had a market value of $8,666,011 as of December 31, 2022. |
| (c) | Rate shown is the 7-day effective yield. |
| The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P"). | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P"). |
| GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC. | GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC. |

---

**Gadsden Dynamic Multi-Asset ETF**

**SIGNIFICANT ACCOUNTING POLICIES**

Security Valuation. Equity securities that are traded on a national securities exchange, except those listed on the NASDAQ Global Market<sup>®</sup> ("NASDAQ") are valued at the last reported sale price on the exchange on which the security is principally traded. Securities traded on NASDAQ will be valued at the NASDAQ Official Closing Price ("NOCP"). If, on a particular day, an exchange-traded or NASDAQ security does not trade, then the most recent quoted bid for exchange-traded or the mean between the most recent quoted bid and ask price for NASDAQ securities will be used. Equity securities that are not traded on a listed exchange are generally valued at the last sale price in the over-the-counter market. If a non-exchange traded security does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies are valued at the investment company's applicable net asset value, with the exception of exchange-traded open-end investment companies which are priced as equity securities.

Securities for which quotations are not readily available are valued by a committee established by the Trust's Board of Trustees (the "Board") in accordance with procedures established by the Board. This "fair valuation" process is designed to value the subject security at the price the Trust would reasonably expect to receive upon its current sale. When a security is "fair valued," consideration is given to the facts and circumstances relevant to the particular situation, including a review of various factors set forth in the pricing procedures adopted by the Board. The use of "fair value" pricing by the Fund may cause the net asset value of its shares to differ significantly from the net asset value that would be calculated without regard to such considerations. As of December 31, 2022, the Fund did not hold any securities valued by an investment committee.

As described above, the Fund may use various methods to measure the fair value of their investments on a recurring basis. Generally Accepted Accounting Principles ("GAAP") establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

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 would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

**Gadsden Dynamic Multi-Asset ETF**

The following is a summary of the fair value classification of the Fund's investments as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Gadsden Dynamic Multi-Asset ETF</u>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**<u>Assets\*</u>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | $8477932 | $- | $- | $8477932 |
| &nbsp;&nbsp;&nbsp;Investment Companies | 145034803 |  |  | 145034803 |
| &nbsp;&nbsp;&nbsp;Investments purchased with Proceeds from Securities Lending | 8935166 |  |  | 8935166 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | 785158 | - | - | 785158 |
| &nbsp;&nbsp;&nbsp;**Total Investments in Securities** | $**163233059** | $**-** | $**-** | $**163233059** |

---

\* For Further detail on each asset class, see the Schedule of Investments

During the fiscal period ended December 31, 2022, the Fund 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:** 19 E Eagle Road

  - **City:** Havertown

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** PA

  - **Telephone number:** 2158829983

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

- **a. Name of Series:** Gadsden Dynamic Multi-Asset ETF

- **b. EDGAR series identifier (if any):** S000069668

- **c. LEI of Series:** 549300073VNCYFOG1J04

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**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:** $156439132.21

**Total Liabilities:** $5560594.97

**Net Assets:** $150878537.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222207 | -1.62%               | -2.52%               | 0.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-17260.28               | $-2450603.69                               |
| Month 2  | $-5106226.06             | $1176734.82                                |
| Month 3  | $-46863.30               | $-1001459.21                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABRDN GOLD ETF TRUST PHYSCL GOLD SHS          | ABRDN GOLD ETF TRUST PHYSCL GOLD SHS          | CUSIP: N/A<br>LEI: 549300DWUGC6Q38L2L08 | Long             | EC               | RF                | US        |     87306 | NS      | $1525235.82   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY INC                           | CHENIERE ENERGY INC                           | CUSIP: N/A<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      5077 | NS      | $761346.92    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                                | CONOCOPHILLIPS                                | CUSIP: N/A<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      6946 | NS      | $819628.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DIREXION SHS ETF TR DAILY FTSE CHINA          | DIREXION SHS ETF TR DAILY FTSE CHINA          | CUSIP: N/A<br>LEI: 549300PYW6HP5QKTQV16 | Long             | EC               | RF                | US        |    118963 | NS      | $1414470.07   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                           | FIRST AMERN FDS INC                           | CUSIP: N/A<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    785158 | NS      | $785158.32    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO CURRENCYSHARES SWISS F SWISS FRANC    | INVESCO CURRENCYSHARES SWISS F SWISS FRANC    | CUSIP: N/A<br>LEI: 549300K3PYN0BT8TFG95 | Long             | EC               | RF                | US        |      8008 | NS      | $772852.08    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO DB US DLR INDEX TR BULLISH FD         | INVESCO DB US DLR INDEX TR BULLISH FD         | CUSIP: N/A<br>LEI: 549300QQBOFDEGGI5W06 | Long             | EC               | RF                | US        |    407419 | NS      | $11330322.39  | 7.51%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESTMENT MANAGERS SER TR II AXS SHORT INNOV | INVESTMENT MANAGERS SER TR II AXS SHORT INNOV | CUSIP: N/A<br>LEI: 549300VGGUG4TWQ8I285 | Long             | EC               | RF                | US        |     46470 | NS      | $2533079.70   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TR TRS FLT RT BD                      | ISHARES TR TRS FLT RT BD                      | CUSIP: N/A<br>LEI: 549300IH7Y9SW6BCOA50 | Long             | EC               | RF                | US        |    452280 | NS      | $22799434.80  | 15.11%            |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES TR 0-3 MNTH TREASRY                   | ISHARES TR 0-3 MNTH TREASRY                   | CUSIP: N/A<br>LEI: 549300L2T50TTT4U6186 | Long             | EC               | RF                | US        |    420748 | NS      | $42133704.72  | 27.93%            |  |  |  | No            |                  1 | On Loan: No      |
| LILLY ELI & CO                                | LILLY ELI & CO                                | CUSIP: N/A<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2518 | NS      | $921185.12    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP                          | LOCKHEED MARTIN CORP                          | CUSIP: N/A<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      2341 | NS      | $1138873.09   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHROP GRUMMAN CORP                         | NORTHROP GRUMMAN CORP                         | CUSIP: N/A<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      2121 | NS      | $1157238.81   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPSICO INC                                   | PEPSICO INC                                   | CUSIP: N/A<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      4649 | NS      | $839888.34    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER AND GAMBLE CO                         | PROCTER AND GAMBLE CO                         | CUSIP: N/A<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      5303 | NS      | $803722.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR SHORT BITCOIN                    | PROSHARES TR SHORT BITCOIN                    | CUSIP: N/A<br>LEI: 549300GXECIOZMG55H68 | Long             | EC               | RF                | US        |      9578 | NS      | $381108.62    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR ULTRAPRO SHT QQQ                 | PROSHARES TR ULTRAPRO SHT QQQ                 | CUSIP: N/A<br>LEI: KC8ZSAS0N653Z8PPTO65 | Long             | EC               | RF                | US        |    211704 | NS      | $11434133.04  | 7.58%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR SHRT HGH YIELD                   | PROSHARES TR SHRT HGH YIELD                   | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               | RF                | US        |    323220 | NS      | $6141180.00   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR PSHS SH MSCI EAF                 | PROSHARES TR PSHS SH MSCI EAF                 | CUSIP: N/A<br>LEI: E9YLGGCRV6TSIDLNI588 | Long             | EC               | RF                | US        |    133324 | NS      | $2666480.00   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR II VIX MDTRM FUTR N              | PROSHARES TR II VIX MDTRM FUTR N              | CUSIP: N/A<br>LEI: 549300KYODZFXRDKP208 | Long             | EC               | RF                | US        |     12594 | NS      | $382353.84    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR II ULTRASHRT EURO                | PROSHARES TR II ULTRASHRT EURO                | CUSIP: N/A<br>LEI: FLD563LR4L0K4REZX771 | Long             | EC               | RF                | US        |     59959 | NS      | $1765792.55   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR II ULSHT BLOOMB OIL              | PROSHARES TR II ULSHT BLOOMB OIL              | CUSIP: N/A<br>LEI: 4PKM6KFN002N7WVKNN49 | Long             | EC               | RF                | US        |     29568 | NS      | $705196.80    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR II VIX SH TRM FUTRS              | PROSHARES TR II VIX SH TRM FUTRS              | CUSIP: N/A<br>LEI: 5493005DV5M62XOUEG74 | Long             | EC               | RF                | US        |     50398 | NS      | $573529.24    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSHARES TR ULTSHT FTSE EURO                 | PROSHARES TR ULTSHT FTSE EURO                 | CUSIP: N/A<br>LEI: I5P8CWQ9REYR8K9HN560 | Long             | EC               | RF                | US        |    240561 | NS      | $3071963.97   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORP                    | RAYTHEON TECHNOLOGIES CORP                    | CUSIP: N/A<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     11441 | NS      | $1154625.72   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TR SHT TM US TRES            | SCHWAB STRATEGIC TR SHT TM US TRES            | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               | RF                | US        |    313968 | NS      | $15145816.32  | 10.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB STRATEGIC TR US TIPS ETF               | SCHWAB STRATEGIC TR US TIPS ETF               | CUSIP: N/A<br>LEI: 5493001H0ESLTZTZWE77 | Long             | EC               | RF                | US        |    217661 | NS      | $11272663.19  | 7.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TR SBI HEALTHCARE          | SELECT SECTOR SPDR TR SBI HEALTHCARE          | CUSIP: N/A<br>LEI: 549300EJNY3KKJHPOY44 | Long             | EC               | RF                | US        |     16662 | NS      | $2263532.70   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TR SBI CONS STPLS          | SELECT SECTOR SPDR TR SBI CONS STPLS          | CUSIP: N/A<br>LEI: 549300Z52QUV3UXHLA68 | Long             | EC               | RF                | US        |     19997 | NS      | $1490776.35   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT SECTOR SPDR TR SBI INT-UTILS           | SELECT SECTOR SPDR TR SBI INT-UTILS           | CUSIP: N/A<br>LEI: 549300ERQDM80PRYUH21 | Long             | EC               | RF                | US        |     43136 | NS      | $3041088.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                        | UNITEDHEALTH GROUP INC                        | CUSIP: N/A<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1533 | NS      | $812765.94    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** EA Series Trust

**Signature:** Jessica Leighty

**Name of Signer:** Jessica Leighty

**Title:** Chief Compliance Officer