# EDGAR Filing Document

**Accession Number:** 0002013968
**File Stem:** 0001752724-25-211594
**Filing Date:** 2025-8
**Character Count:** 37407
**Document Hash:** 64b7910b16e9181697b8379a04de4be7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211594.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211594

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Variable Funds Trust
- **CENTRAL INDEX KEY:** 0002013968

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23944
- **FILM NUMBER:** 251272043

**BUSINESS ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 212-922-2699

**MAIL ADDRESS:**
- **STREET 1:** 555 THEODORE FREMD AVENUE
- **STREET 2:** SUITE A-101
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### NAA LARGE CORE SERIES (Series ID: S000084965)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000249820 | NAA LARGE CORE SERIES |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** New Age Alpha Variable Funds Trust

- **b. Investment Company Act file number:** 811-23944

- **c. CIK number of Registrant:** 0002013968

- **d. LEI of Registrant:** 5299000HTJBNEG1Y8820

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

  - **Street Address 1:** 555 Theodore Fremd Avenue

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

  - **Telephone number:** 212-922-2699

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

- **a. Name of Series:** NAA LARGE CORE SERIES

- **b. EDGAR series identifier (if any):** S000084965

- **c. LEI of Series:** 529900BXGCPGMJ25T631

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $252484882.45

**Total Liabilities:** $899026.28

**Net Assets:** $251585856.17

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000249820 | -0.85%               | 6.40%                | 4.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-71225.33               | $-2022321.52                               |
| Month 2  | $53325.79                | $14547157.72                               |
| Month 3  | $1311793.50              | $9903889.22                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ecolab Inc.                         | Ecolab, Inc.                             | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |      5659 | NS      | $1524760.96   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc.   | American International Group, Inc.       | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     12507 | NS      | $1070474.13   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                 | Cisco Systems, Inc.                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     42772 | NS      | $2967521.36   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| The Allstate Corporation            | Allstate Corporation (The)               | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      5754 | NS      | $1158337.74   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                 | Stryker Corporation                      | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      7443 | NS      | $2944674.09   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Company, Inc.  | American Water Works Company, Inc.       | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      4230 | NS      | $588435.30    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                 | Newmont Corporation                      | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     21759 | NS      | $1267679.34   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                     | Caterpillar, Inc.                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      7770 | NS      | $3016391.70   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.          | Cooper Companies, Inc. (The)             | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      4502 | NS      | $320362.32    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                | Keurig Dr Pepper Inc.                    | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     29205 | NS      | $965517.30    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corporation           | Realty Income Corporation REIT           | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     19491 | NS      | $1122876.51   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.   | PNC Financial Services Group, Inc. (The) | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      8775 | NS      | $1635835.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                 | BBH Overnight Sweep                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   1939989 | PA      | $1939989.12   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries, Inc.      | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       811 | NS      | $195824.06    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                       | iShares Core S&P 500 ETF                 | CUSIP: 464287200<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      4063 | NS      | $2522716.70   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated             | Mastercard, Inc. Class A                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      5260 | NS      | $2955804.40   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc            | Simon Property Group, Inc. REIT          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      6811 | NS      | $1094936.36   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.              | Micron Technology, Inc.                  | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |     20531 | NS      | $2530445.75   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.     | Automatic Data Processing, Inc.          | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      3505 | NS      | $1080942.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation          | American Tower Corporation               | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     10097 | NS      | $2231638.94   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr S&P 500 Etf Trust              | SPDR S&P 500 ETF Trust                   | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      4071 | NS      | $2515267.35   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation              | Fair Isaac Corporation                   | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       533 | NS      | $974302.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Grainger W W Inc                    | Grainger (W.W.), Inc.                    | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       987 | NS      | $1026716.88   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                  | Cintas Corporation                       | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7496 | NS      | $1670633.52   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                         | Phillips 66                              | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      8408 | NS      | $1003074.40   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corporation                 | Insulet Corporation                      | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      1509 | NS      | $474097.62    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                   | D.R. Horton, Inc.                        | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |      6266 | NS      | $807812.72    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                    | Duke Energy Corporation                  | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     17097 | NS      | $2017446.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                    | Amazon.com, Inc.                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     44576 | NS      | $9779528.64   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                | Booking Holdings, Inc.                   | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       530 | NS      | $3068297.20   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                        | Broadcom, Inc.                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     20815 | NS      | $5737654.75   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                     | Eli Lilly & Company                      | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      3612 | NS      | $2815662.36   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                     | CBRE Group, Inc.                         | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      6330 | NS      | $886959.60    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                       | Alphabet, Inc. Class C                   | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     10464 | NS      | $1856208.96   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                   | FirstEnergy Corporation                  | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     11237 | NS      | $452401.62    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                         | Walmart, Inc.                            | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     29708 | NS      | $2904848.24   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                | PayPal Holdings, Inc.                    | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     22967 | NS      | $1706907.44   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc              | Palo Alto Networks, Inc.                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     14066 | NS      | $2878466.24   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc.             | Tyler Technologies, Inc.                 | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       962 | NS      | $570312.08    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.            | Procter & Gamble Company (The)           | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     17892 | NS      | $2850553.44   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company                 | Halliburton Company                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     18210 | NS      | $371119.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.              | Southwest Airlines Company               | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     13630 | NS      | $442157.20    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.             | UnitedHealth Group, Inc.                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      9171 | NS      | $2861076.87   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                    | Merck & Company, Inc.                    | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     35366 | NS      | $2799572.56   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                    | Arthur J. Gallagher & Company            | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |      5506 | NS      | $1762580.72   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                       | Centene Corporation                      | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     10857 | NS      | $589317.96    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                         | Zoetis, Inc.                             | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     10392 | NS      | $1620632.40   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Company              | General Motors Company                   | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     21205 | NS      | $1043498.05   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.            | Lululemon Athletica, Inc.                | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      2707 | NS      | $643129.06    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company            | American Express Company                 | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      9411 | NS      | $3001920.78   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.            | O'Reilly Automotive, Inc.                | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     19238 | NS      | $1733920.94   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                      | Citigroup, Inc.                          | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     35567 | NS      | $3027463.04   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                     | Microsoft Corporation                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     34931 | NS      | $17375028.71  | 6.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc                 | Paycom Software, Inc.                    | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |      1151 | NS      | $266341.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                        | Exelon Corporation                       | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     22153 | NS      | $961883.26    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                | Baker Hughes Company Class A             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21519 | NS      | $825038.46    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.               | Bank of America Corporation              | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     62708 | NS      | $2967342.56   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc          | Chipotle Mexican Grill, Inc.             | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28519 | NS      | $1601341.85   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc              | Diamondback Energy, Inc.                 | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      3968 | NS      | $545203.20    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.        | Jack Henry & Associates, Inc.            | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |      1562 | NS      | $281425.54    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                        | Oracle Corporation                       | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     13384 | NS      | $2926143.92   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                          | Amgen, Inc.                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      9615 | NS      | $2684604.15   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pulte Group Inc                     | PulteGroup, Inc.                         | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4598 | NS      | $484905.08    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.               | Parker-Hannifin Corporation              | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      2846 | NS      | $1987845.62   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.             | Republic Services, Inc.                  | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      4395 | NS      | $1083850.95   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                | Amphenol Corporation Class A             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     25930 | NS      | $2560587.50   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                       | Alphabet, Inc. Class A                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     40423 | NS      | $7123745.29   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                         | PepsiCo, Inc.                            | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     21702 | NS      | $2865532.08   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.          | Constellation Energy Corporation         | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      6443 | NS      | $2079542.68   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                      | S&P Global, Inc.                         | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      5547 | NS      | $2924877.63   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                | United Rentals, Inc.                     | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1444 | NS      | $1087909.60   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                          | Chubb Ltd.                               | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | US        |      8193 | NS      | $2373675.96   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.        | Marriott International, Inc. Class A     | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |      5125 | NS      | $1400201.25   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.             | Berkshire Hathaway, Inc. Class B         | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      8465 | NS      | $4112043.05   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corporation                     | PPL Corporation                          | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     16084 | NS      | $545086.76    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company        | Sherwin-Williams Company (The)           | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |      5436 | NS      | $1866504.96   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc.                     | Salesforce, Inc.                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     10822 | NS      | $2951051.18   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc.                        | Gartner, Inc.                            | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |      1762 | NS      | $712235.64    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc.                | Delta Air Lines, Inc.                    | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     15395 | NS      | $757126.10    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                          | Apple, Inc.                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     67594 | NS      | $13868260.98  | 5.51%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                     | First Solar, Inc.                        | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      2661 | NS      | $440501.94    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company            | Vulcan Materials Company                 | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |      2940 | NS      | $766810.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                          | Intuit, Inc.                             | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3717 | NS      | $2927620.71   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                | Gilead Sciences, Inc.                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     25753 | NS      | $2855235.11   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                  | Meta Platforms, Inc. Class A             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     10023 | NS      | $7397876.07   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                | Schlumberger Ltd.                        | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     29232 | NS      | $988041.60    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                  | Iron Mountain, Inc.                      | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      6293 | NS      | $645473.01    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                  | Coca-Cola Company (The)                  | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     40760 | NS      | $2883770.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                     | T-Mobile USA, Inc.                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     11080 | NS      | $2639920.80   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                        | Lennar Corporation Class A               | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      5522 | NS      | $610788.42    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc               | Uber Technologies, Inc.                  | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     33519 | NS      | $3127322.70   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                   | Exxon Mobil Corporation                  | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     25008 | NS      | $2695862.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hartford Insurance Group Inc.   | Hartford Insurance Group, Inc. (The)     | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      6161 | NS      | $781646.07    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                         | Fiserv, Inc.                             | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     12562 | NS      | $2165814.42   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Aerospace                        | General Electric Company                 | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     11931 | NS      | $3070920.09   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                        | Fastenal Company                         | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     25605 | NS      | $1075410.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                     | Deere & Company                          | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      5375 | NS      | $2733133.75   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.               | Cardinal Health, Inc.                    | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      4791 | NS      | $804888.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc            | Crowdshare Holdings, Inc.                | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      4964 | NS      | $2528214.84   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                        | NVIDIA Corporation                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    114356 | NS      | $18067104.44  | 7.18%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                | JPMorgan Chase & Company                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     13013 | NS      | $3772598.83   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                           | Tesla, Inc.                              | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     14802 | NS      | $4702003.32   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc       | Hilton Worldwide Holdings, Inc.          | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      5270 | NS      | $1403611.80   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated | Vertex Pharmaceuticals, Inc.             | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      5601 | NS      | $2493565.20   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** New Age Alpha Variable Funds Trust

**Signature:** Keith D. Kemp

**Name of Signer:** Keith D. Kemp

**Title:** President