# EDGAR Filing Document

**Accession Number:** 0001592900
**File Stem:** 0001592900-25-004342
**Filing Date:** 2025-12
**Character Count:** 43653
**Document Hash:** 051469b9c5b319aee210cb9e034a04a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001592900-25-004342.hdr.sgml**: 20251217

**ACCESSION NUMBER**: 0001592900-25-004342

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251217

**DATE AS OF CHANGE**: 20251217

**PERIOD START**: 20260731

**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:** 251577617

**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

### Burney U.S. Factor Rotation ETF (Series ID: S000077503)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000237980 | Burney U.S. Factor Rotation ETF | BRNY            |

## Nport-Ex

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS** |
| **October 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.7%** | **Shares** | **Value**  |
| **<u>Communication Services</u> - 9.7%** | |  |
| **Interactive Media & Services - 8.3%** |  |  |
| Alphabet, Inc. - Class A  | 71177 | $20014261 |
| Meta Platforms, Inc. - Class A  | 27851 | 18057196 |
|  |  | 38071457 |
| **Movies & Entertainment - 1.4%** |  |  |
| Netflix, Inc. <sup>(a)</sup> | 5876 | 6574421 |
| **Total Communication Services** |  | 44645878 |
| **<u>Consumer Discretionary</u> - 14.1%** |  |  |
| **Apparel Retail - 0.4%** |  |  |
| Boot Barn Holdings, Inc. <sup>(a)</sup> | 8795 | 1667972 |
| **Apparel, Accessories & Luxury Goods - 1.2%** |  |  |
| Ralph Lauren Corp.  | 17235 | 5509340 |
| **Automotive Retail - 1.1%** |  |  |
| Asbury Automotive Group, Inc. <sup>(a)</sup> | 11476 | 2692269 |
| Carvana Co. <sup>(a)</sup> | 7157 | 2193907 |
|  |  | 4886176 |
| **Broadline Retail - 5.4%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup> | 93841 | 22917849 |
| MercadoLibre, Inc. <sup>(a)</sup> | 880 | 2047989 |
|  |  | 24965838 |
| **Education Services - 0.2%** |  |  |
| Stride, Inc. <sup>(a)</sup> | 12602 | 857440 |
| **Hotels, Resorts & Cruise Lines - 2.7%** |  |  |
| Expedia Group, Inc.  | 56028 | 12326160 |
| **Other Specialty Retail - 0.7%** |  |  |
| Ulta Beauty, Inc. <sup>(a)</sup> | 6584 | 3422890 |
| **Restaurants - 0.8%** |  |  |
| Brinker International, Inc. <sup>(a)</sup> | 33055 | 3591756 |
| **Specialized Consumer Services - 1.6%** |  |  |
| Frontdoor, Inc. <sup>(a)</sup> | 112744 | 7489584 |
| **Total Consumer Discretionary** |  | 64717156 |
| **<u>Consumer Staples</u> - 2.1%** |  |  |
| **Consumer Staples Merchandise Retail - 1.0%** |  |  |
| Costco Wholesale Corp.  | 2531 | 2306880 |
| Walmart, Inc.  | 22128 | 2238911 |
|  |  | 4545791 |

---

------

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **October 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.7% (CONTINUED)** | **Shares** | **Value**  |
| **Packaged Foods & Meats - 0.4%** |  |  |
| Cal-Maine Foods, Inc.  | 19878 | $1745288 |
| **Soft Drinks & Non-alcoholic Beverages - 0.7%** |  |  |
| Keurig Dr Pepper, Inc.  | 122422 | 3324982 |
| **Total Consumer Staples** |  | 9616061 |
| **<u>Energy</u> - 1.6%** |  |  |
| **Oil & Gas Refining & Marketing - 1.1%** |  |  |
| Delek US Holdings, Inc.  | 130529 | 4928775 |
| **Oil & Gas Storage & Transportation - 0.5%** |  |  |
| TC Energy Corp.  | 46173 | 2316038 |
| **Total Energy** |  | 7244813 |
| **<u>Financials</u> - 12.4%** |  |  |
| **Asset Management & Custody Banks - 1.1%** |  |  |
| Federated Hermes, Inc.  | 53696 | 2603182 |
| State Street Corp.  | 20135 | 2328814 |
|  |  | 4931996 |
| **Consumer Finance - 0.6%** |  |  |
| OneMain Holdings, Inc.  | 49420 | 2925170 |
| **Diversified Banks - 0.6%** |  |  |
| First Citizens BancShares, Inc. - Class A  | 1584 | 2890515 |
| **Investment Banking & Brokerage - 3.0%** |  |  |
| Interactive Brokers Group, Inc. - Class A  | 32033 | 2253842 |
| LPL Financial Holdings, Inc.  | 5120 | 1931827 |
| Morgan Stanley  | 15597 | 2557908 |
| StoneX Group, Inc. <sup>(a)</sup> | 54195 | 4981605 |
| Virtu Financial, Inc. - Class A  | 55469 | 1932540 |
|  |  | 13657722 |
| **Regional Banks - 2.1%** |  |  |
| East West Bancorp, Inc.  | 28237 | 2868879 |
| Pinnacle Financial Partners, Inc.  | 27118 | 2310725 |
| Popular, Inc.  | 19204 | 2140670 |
| Zions Bancorp NA  | 39164 | 2040836 |
|  |  | 9361110 |
| **Transaction & Payment Processing Services - 5.0%** |  |  |
| Global Payments, Inc.  | 32499 | 2527122 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 95644 | 6625260 |
| Shift4 Payments, Inc. - Class A <sup>(a)</sup> | 149295 | 10316284 |

---

------

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **October 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.7% (CONTINUED)** | **Shares** | **Value**  |
| **Transaction & Payment Processing Services - 5.0% (Continued)** | | |
| WEX, Inc. <sup>(a)</sup> | 24852 | $3625410 |
|  |  | 23094076 |
| **Total Financials** |  | 56860589 |
| **<u>Health Care</u> - 6.8%** |  |  |
| **Biotechnology - 2.5%** |  |  |
| Neurocrine Biosciences, Inc. <sup>(a)</sup> | 15392 | 2204288 |
| Regeneron Pharmaceuticals, Inc.  | 13887 | 9051547 |
|  |  | 11255835 |
| **Health Care Equipment - 0.4%** |  |  |
| Boston Scientific Corp. <sup>(a)</sup> | 19702 | 1984385 |
| **Health Care Facilities - 0.5%** |  |  |
| Universal Health Services, Inc. - Class B  | 10670 | 2315497 |
| **Health Care Services - 1.1%** |  |  |
| Guardant Health, Inc. <sup>(a)</sup> | 26417 | 2457309 |
| Pediatrix Medical Group, Inc. <sup>(a)</sup> | 155178 | 2633371 |
|  |  | 5090680 |
| **Life Sciences Tools & Services - 0.6%** |  |  |
| Illumina, Inc. <sup>(a)</sup> | 23618 | 2917768 |
| **Managed Health Care - 1.2%** |  |  |
| Centene Corp. <sup>(a)</sup> | 151254 | 5349854 |
| **Pharmaceuticals - 0.5%** |  |  |
| Viatris, Inc.  | 222793 | 2308135 |
| **Total Health Care** |  | 31222154 |
| **<u>Industrials</u> - 6.9%** |  |  |
| **Aerospace & Defense - 0.5%** |  |  |
| General Dynamics Corp.  | 6803 | 2346355 |
| **Building Products - 0.9%** |  |  |
| Allegion PLC  | 25797 | 4276369 |
| **Electrical Components & Equipment - 0.5%** |  |  |
| Sensata Technologies Holding PLC  | 70004 | 2228227 |
| **Human Resource & Employment Services - 1.1%** |  |  |
| Paylocity Holding Corp. <sup>(a)</sup> | 19111 | 2699811 |
| Upwork, Inc. <sup>(a)</sup> | 156567 | 2495678 |
|  |  | 5195489 |

---

------

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **October 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.7% (CONTINUED)** | **Shares** | **Value**  |
| **Industrial Machinery & Supplies & Components - 1.5%** |  |  |
| Middleby Corp. <sup>(a)</sup> | 17947 | $2229556 |
| Otis Worldwide Corp.  | 24958 | 2315104 |
| Xylem, Inc.  | 14735 | 2222775 |
|  |  | 6767435 |
| **Passenger Airlines - 1.1%** |  |  |
| Delta Air Lines, Inc.  | 49096 | 2817128 |
| United Airlines Holdings, Inc. <sup>(a)</sup> | 23898 | 2247368 |
|  |  | 5064496 |
| **Passenger Ground Transportation - 0.4%** |  |  |
| Uber Technologies, Inc. <sup>(a)</sup> | 18001 | 1737096 |
| **Research & Consulting Services - 0.9%** |  |  |
| Leidos Holdings, Inc.  | 20488 | 3902349 |
| **Total Industrials** |  | 31517816 |
| **<u>Information Technology</u> - 34.5%**<sup>(b)</sup> |  |  |
| **Application Software - 5.4%** |  |  |
| Autodesk, Inc. <sup>(a)</sup> | 73599 | 22178323 |
| Docusign, Inc. <sup>(a)</sup> | 33819 | 2473521 |
|  |  | 24651844 |
| **Communications Equipment - 0.4%** |  |  |
| Arista Networks, Inc. <sup>(a)</sup> | 10946 | 1726075 |
| **Internet Services & Infrastructure - 0.5%** |  |  |
| MongoDB, Inc. <sup>(a)</sup> | 6816 | 2452533 |
| **Semiconductor Materials & Equipment - 3.9%** |  |  |
| Axcelis Technologies, Inc. <sup>(a)</sup> | 33108 | 2634072 |
| Lam Research Corp.  | 98245 | 15469658 |
|  |  | 18103730 |
| **Semiconductors - 9.5%** |  |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 23330 | 5975280 |
| NVIDIA Corp.  | 185718 | 37606038 |
|  |  | 43581318 |
| **Systems Software - 8.5%** |  |  |
| Microsoft Corp.  | 57570 | 29810322 |
| Qualys, Inc. <sup>(a)</sup> | 53129 | 6548681 |
| Zscaler, Inc. <sup>(a)</sup> | 7218 | 2390168 |
|  |  | 38749171 |
| **Technology Hardware, Storage & Peripherals - 6.3%** |  |  |
| Apple, Inc.  | 106363 | 28757364 |
| **Total Information Technology** |  | 158022035 |

---

------

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **October 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 98.7% (CONTINUED)** | **Shares** | **Value**  |
| **<u>Materials</u> - 4.3%** | |  |
| **Fertilizers & Agricultural Chemicals - 3.8%** |  |  |
| CF Industries Holdings, Inc.  | 206211 | $17175314 |
| **Gold - 0.5%** |  |  |
| Eldorado Gold Corp. <sup>(a)</sup> | 94899 | 2433210 |
| **Total Materials** |  | 19608524 |
| **<u>Utilities</u> - 6.3%** |  |  |
| **Electric Utilities - 3.5%** |  |  |
| Edison International  | 183652 | 10170648 |
| PG&E Corp.  | 178332 | 2846178 |
| Portland General Electric Co.  | 66809 | 3051835 |
|  |  | 16068661 |
| **Gas Utilities - 0.5%** |  |  |
| UGI Corp.  | 68883 | 2302759 |
| **Independent Power Producers & Energy Traders - 2.3%** |  |  |
| AES Corp.  | 738064 | 10236948 |
| **Total Utilities** |  | 28608368 |
| **TOTAL COMMON STOCKS** (Cost $418,806,754) |  | 452063394 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.0%** |  |  |
| **<u>Real Estate</u> - 1.0%** |  |  |
| **Health Care REITs - 0.6%** |  |  |
| Sabra Health Care REIT, Inc.  | 152163 | 2711545 |
| **Retail REITs - 0.4%** |  |  |
| Simon Property Group, Inc.  | 11844 | 2081701 |
| **Total Real Estate** |  | 4793246 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $4,647,642) |  | 4793246 |
| **SHORT-TERM INVESTMENTS** |  |  |
| **MONEY MARKET FUNDS - 0.3%** |  |  |
| First American Government Obligations Fund - Class X, 4.03% <sup>(c)</sup> | 1457483 | 1457483 |
| **TOTAL MONEY MARKET FUNDS** (Cost $1,457,483) |  | 1457483 |
| **TOTAL INVESTMENTS - 100.0% (**Cost $424,911,879**)** |  | 458314123 |
| Liabilities in Excess of Other Assets - (0.0)% <sup>(d)</sup> |  | (68977) |
| **TOTAL NET ASSETS - 100.0%** |  | 458245146 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company <br> REIT - Real Estate Investment Trust

------

---

| |
|:---|
| **BURNEY U.S FACTOR ROTATION ETF** |
| **SCHEDULE OF INVESTMENTS (CONTINUED)** |
| **October 31, 2025 (Unaudited)** |

---

(a) Non-income producing security.

(b) 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.

(c) The rate shown represents the 7-day annualized yield as of October 31, 2025.

(d) 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.

------

**BURNEY U.S. FACTOR ROTATION ETF**

**Summary of Fair Value Disclosures as of October 31, 2025 (Unaudited)**

Burney U.S. Factor Rotation ETF (the "Fund") has adopted authoritative fair value accounting standards which establish an authoritative 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 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 would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of October 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **DESCRIPTION** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **<u>Investments</u>** | | | | |
| Common Stocks | $452063394 | $— | $— | $452063394 |
| Real Estate Investment Trusts | 4793246 |  |  | 4793246 |
| Money Market Funds | 1457483 |  |  | 1457483 |
| **Total Investments** | $458314123 | $— | $— | $458314123 |

---

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

During the fiscal period ended October 31, 2025, 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:** 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:** Burney U.S. Factor Rotation ETF

- **b. EDGAR series identifier (if any):** S000077503

- **c. LEI of Series:** 549300OVYLBRTNVYRC53

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

- **a. Date of fiscal year-end:** 2026-07-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $519886249.16

**Total Liabilities:** $61640913.08

**Net Assets:** $458245336.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237980 | 1.51%                | 4.66%                | 1.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-30623537.78            | $-1977488.79                               |
| Month 2  | $97692.79                | $19637422.38                               |
| Month 3  | $37771377.97             | $-33531922.99                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apple Inc                                  | Apple Inc                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    106363 | NS      | $28757364.31  | 6.28%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                           | StoneX Group Inc                           | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     54195 | NS      | $4981604.40   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    185718 | NS      | $37606037.82  | 8.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                 | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     23330 | NS      | $5975279.60   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                       | Keurig Dr Pepper Inc                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    122422 | NS      | $3324981.52   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                     | Boot Barn Holdings Inc                     | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      8795 | NS      | $1667971.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                        | Guardant Health Inc                        | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     26417 | NS      | $2457309.34   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corp                     | Paylocity Holding Corp                     | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     19111 | NS      | $2699810.97   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc                        | Virtu Financial Inc                        | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |     55469 | NS      | $1932539.96   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc                       | OneMain Holdings Inc                       | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     49420 | NS      | $2925169.80   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                                | Zscaler Inc                                | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |      7218 | NS      | $2390168.52   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                      | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     18001 | NS      | $1737096.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                | MongoDB Inc                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |      6816 | NS      | $2452533.12   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                               | Xylem Inc/NY                               | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     14735 | NS      | $2222774.75   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                        | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     95644 | NS      | $6625259.88   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                        | Delta Air Lines Inc                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     49096 | NS      | $2817128.48   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                          | Expedia Group Inc                          | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56028 | NS      | $12326160.00  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                 | Stride Inc                                 | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     12602 | NS      | $857440.08    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                 | LPL Financial Holdings Inc                 | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      5120 | NS      | $1931827.20   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                               | Docusign Inc                               | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     33819 | NS      | $2473521.66   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                        | Arista Networks Inc                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     10946 | NS      | $1726074.74   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                         | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     27851 | NS      | $18057195.85  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc               | United Airlines Holdings Inc               | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |     23898 | NS      | $2247367.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc              | Interactive Brokers Group Inc              | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     32033 | NS      | $2253841.88   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                | Viatris Inc                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    222793 | NS      | $2308135.48   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co               | Portland General Electric Co               | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     66809 | NS      | $3051835.12   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     21322 | PA      | $21322.38     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                 | Sabra Health Care REIT Inc                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | RE               | RF                | US        |    152163 | NS      | $2711544.66   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                   | Simon Property Group Inc                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | RE               | RF                | US        |     11844 | NS      | $2081701.44   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding PLC           | Sensata Technologies Holding PLC           | CUSIP: N/A<br>LEI: 529900MS7KFYCY9MS037       | Long             | EC               | CORP              | GB        |     70004 | NS      | $2228227.32   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion plc                               | Allegion plc                               | CUSIP: N/A<br>LEI: 984500560CAC2E6FB757       | Long             | EC               | CORP              | IE        |     25797 | NS      | $4276368.69   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                             | TC Energy Corp                             | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     46173 | NS      | $2316037.68   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp                         | Eldorado Gold Corp                         | CUSIP: 284902509<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     94899 | NS      | $2433210.36   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                                | Popular Inc                                | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |     19204 | NS      | $2140669.88   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp                               | Centene Corp                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |    151254 | NS      | $5349853.98   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                        | Shift4 Payments Inc                        | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    149295 | NS      | $10316284.50  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp                        | Otis Worldwide Corp                        | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     24958 | NS      | $2315104.08   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                              | Frontdoor Inc                              | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |    112744 | NS      | $7489583.92   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                 | Carvana Co                                 | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      7157 | NS      | $2193906.78   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Delek US Holdings Inc                      | Delek US Holdings Inc                      | CUSIP: 24665A103<br>LEI: 5493003O53JMENV1N385 | Long             | EC               | CORP              | US        |    130529 | NS      | $4928775.04   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTA BEAUTY INC                            | ULTA BEAUTY INC                            | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      6584 | NS      | $3422889.92   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Upwork Inc                                 | Upwork Inc                                 | CUSIP: 91688F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    156567 | NS      | $2495677.98   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                               | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     71177 | NS      | $20014260.63  | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                          | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     98245 | NS      | $15469657.70  | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                | Walmart Inc                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     22128 | NS      | $2238911.04   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                 | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |    206211 | NS      | $17175314.19  | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                    | WEX Inc                                    | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     24852 | NS      | $3625409.76   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                   | UGI Corp                                   | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |     68883 | NS      | $2302758.69   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                             | Amazon.com Inc                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     93841 | NS      | $22917849.02  | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                          | Ralph Lauren Corp                          | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |     17235 | NS      | $5509340.10   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                  | PG&E Corp                                  | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    178332 | NS      | $2846178.72   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                             | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     57570 | NS      | $29810321.70  | 6.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Hermes Inc                       | Federated Hermes Inc                       | CUSIP: 314211103<br>LEI: R05X5UQ874RGFF7HHD84 | Long             | EC               | CORP              | US        |     53696 | NS      | $2603182.08   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc                | Pediatrix Medical Group Inc                | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155178 | NS      | $2633370.66   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                               | Autodesk Inc                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     73599 | NS      | $22178322.66  | 4.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     15597 | NS      | $2557908.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                          | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |     20135 | NS      | $2328814.10   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group Inc                | Asbury Automotive Group Inc                | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |     11476 | NS      | $2692269.60   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp                      | General Dynamics Corp                      | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      6803 | NS      | $2346354.70   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinker International Inc                  | Brinker International Inc                  | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               | CORP              | US        |     33055 | NS      | $3591756.30   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC           | First Citizens BancShares Inc/NC           | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |      1584 | NS      | $2890514.88   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                 | Qualys Inc                                 | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |     53129 | NS      | $6548680.54   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                     | Boston Scientific Corp                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     19702 | NS      | $1984385.44   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA                           | Zions Bancorp NA                           | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     39164 | NS      | $2040836.04   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                           | MercadoLibre Inc                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       880 | NS      | $2047988.80   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                 | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     15392 | NS      | $2204288.32   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                      | Costco Wholesale Corp                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      2531 | NS      | $2306879.95   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc                   | Axcelis Technologies Inc                   | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     33108 | NS      | $2634072.48   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                               | Illumina Inc                               | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     23618 | NS      | $2917767.72   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Middleby Corp/The                          | Middleby Corp/The                          | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |     17947 | NS      | $2229555.81   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                       | Edison International                       | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |    183652 | NS      | $10170647.76  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                        | Global Payments Inc                        | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     32499 | NS      | $2527122.24   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                | Netflix Inc                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      5876 | NS      | $6574421.36   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods Inc                        | Cal-Maine Foods Inc                        | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     19878 | NS      | $1745288.40   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Services Inc              | Universal Health Services Inc              | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     10670 | NS      | $2315496.70   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc              | Regeneron Pharmaceuticals Inc              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     13887 | NS      | $9051546.60   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                        | Leidos Holdings Inc                        | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |     20488 | NS      | $3902349.36   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp/The                               | AES Corp/The                               | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    738064 | NS      | $10236947.68  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle Financial Partners Inc            | Pinnacle Financial Partners Inc            | CUSIP: 72346Q104<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EC               | CORP              | US        |     27118 | NS      | $2310724.78   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                      | East West Bancorp Inc                      | CUSIP: 27579R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28237 | NS      | $2868879.20   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

**Name of Applicant:** EA Series Trust

**Signature:** /s/ Sean Hegarty

**Name of Signer:** Sean Hegarty

**Title:** Treasurer