# EDGAR Filing Document

**Accession Number:** 0002013968
**File Stem:** 0000910472-26-007050
**Filing Date:** 2026-5
**Character Count:** 58505
**Document Hash:** 491dc30b045d8bd849a013c41b84c7cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-007050.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000910472-26-007050

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**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:** 261006277

**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 MID GROWTH SERIES (Series ID: S000087636)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000253504 | NAA MID GROWTH SERIES |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5%** |  |
|  | **Communications - 3.5%** |  |
| 19791 | EchoStar Corporation, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $2316932 |
| 4004 | Expedia Group, Inc. | &nbsp;&nbsp;&nbsp; 924484 |
| 5038 | Fox Corporation, Class A | &nbsp;&nbsp;&nbsp; 294219 |
| 24148 | New York Times Company (The), Class A | &nbsp;&nbsp;&nbsp; 2021912 |
|  |  | &nbsp;&nbsp; 5557547 |
|  | **Consumer Discretionary - 7.5%** |  |
| 2609 | Abercrombie & Fitch Company, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 238384 |
| 8640 | Boyd Gaming Corporation | &nbsp;&nbsp;&nbsp; 710035 |
| 5985 | Burlington Stores, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1947399 |
| 25441 | Chewy, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 686907 |
| 10210 | Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp; 917164 |
| 3301 | Crocs, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 274049 |
| 4097 | Grand Canyon Education, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 696613 |
| 8046 | Planet Fitness, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 598461 |
| 1398 | Ralph Lauren Corporation | &nbsp;&nbsp;&nbsp; 480898 |
| 25749 | Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp; 1903366 |
| 10113 | Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp; 1670062 |
| 2291 | TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp; 461980 |
| 9698 | Travel + Leisure Company | &nbsp;&nbsp;&nbsp; 671005 |
| 4413 | Wingstop, Inc. | &nbsp;&nbsp;&nbsp; 683883 |
|  |  | &nbsp;&nbsp; 11940206 |
|  | **Consumer Staples - 3.7%** |  |
| 6254 | elf Beauty, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 379055 |
| 8603 | Five Below, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1965613 |
| 37546 | Hims & Hers Health, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 779455 |
| 5029 | Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 462869 |
| 11000 | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp; 1818740 |
| 6351 | Sprouts Farmers Market, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 489853 |
|  |  | &nbsp;&nbsp; 5895585 |
|  | **Energy - 4.0%** |  |
| 11685 | DT Midstream, Inc. | &nbsp;&nbsp;&nbsp; 1573619 |
| 3966 | First Solar, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 782333 |
| 51822 | TechnipFMC plc | &nbsp;&nbsp;&nbsp; 3582455 |

---

---

| | | |
|:---|:---|:---|
| **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5% (Continued)** |  |
|  | **Energy - 4.0% (Continued)** |  |
| 4941 | Weatherford International PLC | &nbsp;&nbsp;&nbsp; $467320 |
|  |  | &nbsp;&nbsp; 6405727 |
|  | **Financials - 7.4%** |  |
| 15995 | Carlyle Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 773998 |
| 4997 | Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp; 684989 |
| 10658 | East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp; 1137848 |
| 3863 | Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp; 1153144 |
| 3425 | Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp; 340445 |
| 4652 | Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp; 668120 |
| 17340 | Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp; 1162994 |
| 3446 | Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp; 1177359 |
| 17121 | MGIC Investment Corporation | &nbsp;&nbsp;&nbsp; 449426 |
| 2864 | Primerica, Inc. | &nbsp;&nbsp;&nbsp; 717375 |
| 3611 | RenaissanceRe Holdings Ltd. | &nbsp;&nbsp;&nbsp; 1073298 |
| 11789 | Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp; 397761 |
| 8550 | SEI Investments Company | &nbsp;&nbsp;&nbsp; 670919 |
| 17336 | SLM Corporation | &nbsp;&nbsp;&nbsp; 371164 |
| 13483 | Stifel Financial Corporation | &nbsp;&nbsp;&nbsp; 996663 |
|  |  | &nbsp;&nbsp; 11775503 |
|  | **Health Care - 12.9%** |  |
| 5336 | Amgen, Inc. | &nbsp;&nbsp;&nbsp; 1877472 |
| 7452 | Dexcom, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 467986 |
| 15860 | Encompass Health Corporation | &nbsp;&nbsp;&nbsp; 1534138 |
| 8995 | Ensign Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1812493 |
| 18385 | Globus Medical, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1584052 |
| 17598 | Halozyme Therapeutics, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1137359 |
| 13369 | HealthEquity, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1117247 |
| 6765 | Lantheus Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 513125 |
| 3447 | Medpace Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1655215 |
| 16058 | Neurocrine Biosciences, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2115481 |
| 5774 | Penumbra, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1896008 |
| 11803 | Tenet Healthcare Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2227344 |
| 4507 | United Therapeutics Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2672560 |
|  |  | &nbsp;&nbsp; 20610480 |

---

---

| | | |
|:---|:---|:---|
| **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5% (Continued)** |  |
|  | **Industrials - 30.7%** |  |
| 9585 | AECOM | &nbsp;&nbsp;&nbsp; $813000 |
| 1685 | Allegion plc | &nbsp;&nbsp;&nbsp; 244814 |
| 19858 | ATI, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2888545 |
| 3039 | Belden, Inc. | &nbsp;&nbsp;&nbsp; 348968 |
| 13623 | BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp; 2785767 |
| 7013 | Chart Industries, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1449938 |
| 4048 | Clean Harbors, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1160683 |
| 14212 | Cognex Corporation | &nbsp;&nbsp;&nbsp; 696246 |
| 1430 | Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp; 1971956 |
| 12949 | Core & Main, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 639681 |
| 4293 | Curtiss-Wright Corporation | &nbsp;&nbsp;&nbsp; 2924049 |
| 12269 | Donaldson Company, Inc. | &nbsp;&nbsp;&nbsp; 1041270 |
| 4689 | Dycom Industries, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1588727 |
| 1733 | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp; 1279491 |
| 21133 | Flowserve Corporation | &nbsp;&nbsp;&nbsp; 1553487 |
| 4946 | General Dynamics Corporation | &nbsp;&nbsp;&nbsp; 1697566 |
| 9939 | H&R Block, Inc. | &nbsp;&nbsp;&nbsp; 315464 |
| 12278 | ITT, Inc. | &nbsp;&nbsp;&nbsp; 2339327 |
| 29493 | Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2079551 |
| 10256 | MasTec, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3299764 |
| 12348 | Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp; 1368158 |
| 15762 | Nextpower, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1900109 |
| 2583 | Novanta, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 305078 |
| 24160 | nVent Electric PLC | &nbsp;&nbsp;&nbsp; 2857645 |
| 22111 | RB Global, Inc. | &nbsp;&nbsp;&nbsp; 2119339 |
| 7958 | SPX Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1591123 |
| 40531 | Tetra Tech, Inc. | &nbsp;&nbsp;&nbsp; 1220794 |
| 4429 | TopBuild Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1555908 |
| 1312 | United Rentals, Inc. | &nbsp;&nbsp;&nbsp; 955871 |
| 9660 | Vontier Corporation | &nbsp;&nbsp;&nbsp; 342640 |
| 4182 | Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp; 1213993 |
| 7983 | Woodward, Inc. | &nbsp;&nbsp;&nbsp; 2857275 |
|  |  | &nbsp;&nbsp; 49406227 |

---

---

| | | |
|:---|:---|:---|
| **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5% (Continued)** |  |
|  | **Materials - 3.5%** |  |
| 6949 | Carpenter Technology Corporation | &nbsp;&nbsp;&nbsp; $2738949 |
| 2554 | Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp; 483855 |
| 17529 | Newmont Corporation | &nbsp;&nbsp;&nbsp; 1897514 |
| 3182 | Simpson Manufacturing Company, Inc. | &nbsp;&nbsp;&nbsp; 546095 |
|  |  | &nbsp;&nbsp; 5666413 |
|  | **Real Estate - 4.3%** |  |
| 15173 | Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp; 947099 |
| 18386 | Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp; 815787 |
| 8275 | Lamar Advertising Company, Class A | &nbsp;&nbsp;&nbsp; 1048112 |
| 25744 | Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp; 1128102 |
| 4882 | Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp; 910639 |
| 9185 | Ventas, Inc. | &nbsp;&nbsp;&nbsp; 751149 |
| 18389 | WP Carey, Inc. | &nbsp;&nbsp;&nbsp; 1249716 |
|  |  | &nbsp;&nbsp; 6850604 |
|  | **Technology - 20.1%** |  |
| 9943 | Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp; 447733 |
| 3651 | Appfolio, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 576201 |
| 11284 | Ciena Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4380787 |
| 4813 | Cirrus Logic, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 696056 |
| 13485 | Coherent Corp.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3212262 |
| 4232 | CommVault Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 329630 |
| 4897 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1911838 |
| 27078 | DocuSign, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1283768 |
| 22514 | Doximity, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 524576 |
| 28328 | Dropbox, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 643612 |
| 49263 | Dynatrace, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1821746 |
| 34729 | Everpure, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2050400 |
| 11854 | Guidewire Software, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1772884 |
| 11290 | MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2507170 |
| 5762 | Manhattan Associates, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 767037 |
| 8402 | MKS, Inc. | &nbsp;&nbsp;&nbsp; 1930864 |
| 1863 | Morningstar, Inc. | &nbsp;&nbsp;&nbsp; 314940 |
| 24598 | Okta, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1936110 |
| 4140 | Onto Innovation, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 848990 |

---

---

| | | |
|:---|:---|:---|
| **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** | **NAA MID GROWTH SERIES** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 98.5% (Continued)** |  |
|  | **Technology - 20.1% (Continued)** |  |
| 6802 | Paylocity Holding Corporation<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $734888 |
| 5999 | Qualys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 527012 |
| 19707 | Rambus, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1695393 |
| 7210 | Shift4 Payments, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 315293 |
| 2952 | Silicon Laboratories, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 614459 |
| 3639 | Workday, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 472779 |
|  |  | &nbsp;&nbsp; 32316428 |
|  | **Utilities - 0.9%** |  |
| 5105 | Constellation Energy Corporation | &nbsp;&nbsp;&nbsp; 1425571 |
|  | **TOTAL COMMON STOCKS (Cost $149,956,360)** | &nbsp;&nbsp; 157850291 |
|  | **EXCHANGE-TRADED FUNDS — 1.1%** |  |
|  | **Equity - 1.1%** |  |
| 6606 | iShares Russell Mid-Cap Growth ETF | &nbsp;&nbsp;&nbsp; 846361 |
| 8729 | iShares S&P Mid-Cap 400 Growth ETF | &nbsp;&nbsp;&nbsp; 878312 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $1,828,235)** | &nbsp;&nbsp; 1724673 |
|  | **TOTAL INVESTMENTS - 99.6% (Cost $151,784,595)** | &nbsp;&nbsp;&nbsp; $159574964 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.4%** | &nbsp;&nbsp; 581687 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $160156651 |

---

ETF – Exchange-Traded Fund

Ltd. – Limited Company

PLC – Public Limited Company

<sup>(a)</sup> Non-income producing security.

## 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 MID GROWTH SERIES

- **b. EDGAR series identifier (if any):** S000087636

- **c. LEI of Series:** 5299006A5GBEJ15W2X96

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $160790197.99

**Total Liabilities:** $633547.00

**Net Assets:** $160156650.99

**Cash Not Reported:** $3008.09

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253504 | 3.88%                | 3.10%                | -4.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5047.87                 | $6453500.47                                |
| Month 2  | $480702.72               | $4697164.06                                |
| Month 3  | $-60807.33               | $-8362373.79                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abercrombie & Fitch Co                    | Abercrombie & Fitch Company Class A       | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      2609 | NS      | $238384.33    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                     | AECOM                                     | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      9585 | NS      | $812999.70    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                   | ATI, Inc.                                 | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     19858 | NS      | $2888544.68   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                | Amgen, Inc.                               | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      5336 | NS      | $1877471.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology, Inc.                    | Amkor Technology, Inc.                    | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      9943 | NS      | $447733.29    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AppFolio Inc.                             | Appfolio, Inc. CLASS A                    | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      3651 | NS      | $576200.82    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                     | BWX Technologies, Inc.                    | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     13623 | NS      | $2785767.27   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc.                               | Belden, Inc.                              | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      3039 | NS      | $348968.37    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Block(H&R)Inc                             | H&R Block, Inc.                           | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      9939 | NS      | $315463.86    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corporation                   | Boyd Gaming Corporation                   | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |      8640 | NS      | $710035.20    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc.                    | Burlington Stores, Inc.                   | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      5985 | NS      | $1947399.30   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc                         | Carlyle Group, Inc. (The)                 | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |     15995 | NS      | $773998.05    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation          | Carpenter Technology Corporation          | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      6949 | NS      | $2738948.35   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                      | Chart Industries, Inc.                    | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |      7013 | NS      | $1449937.75   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                                 | Chewy, Inc. Class A                       | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     25441 | NS      | $686907.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                       | Churchill Downs, Inc.                     | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |     10210 | NS      | $917164.30    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corporation                         | Ciena Corporation                         | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     11284 | NS      | $4380787.32   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cirrus Logic, Inc.                        | Cirrus Logic, Inc.                        | CUSIP: 172755100<br>LEI: 549300NKSJEM5ZZSSV18 | Long             | EC               | CORP              | US        |      4813 | NS      | $696056.06    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                       | Clean Harbors, Inc.                       | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      4048 | NS      | $1160683.04   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                               | Cognex Corporation                        | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     14212 | NS      | $696245.88    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corporation                      | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     13485 | NS      | $3212261.85   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.                  | Comfort Systems USA, Inc.                 | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      1430 | NS      | $1971955.70   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc.                    | Commvault Systems, Inc.                   | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      4232 | NS      | $329630.48    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                | Constellation Energy Corporation          | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      5105 | NS      | $1425571.25   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                           | Core & Main, Inc.                         | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12949 | NS      | $639680.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                                 | Crocs, Inc.                               | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      3301 | NS      | $274049.02    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                  | Crowdstrike Holdings, Inc.                | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      4897 | NS      | $1911837.77   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers, Inc.                | Cullen/Frost Bankers, Inc.                | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |      4997 | NS      | $684988.76    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corporation                | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      4293 | NS      | $2924048.16   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                          | DT Midstream, Inc.                        | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11685 | NS      | $1573618.95   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                | Dexcom, Inc.                              | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      7452 | NS      | $467985.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Docusign Inc                              | Docusign, Inc.                            | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               | CORP              | US        |     27078 | NS      | $1283767.98   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                          | Donaldson Company, Inc.                   | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     12269 | NS      | $1041270.03   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                               | Dropbox, Inc. Class A                     | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     28328 | NS      | $643612.16    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                              | Doximity, Inc.                            | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22514 | NS      | $524576.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                    | Dycom Industries, Inc.                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      4689 | NS      | $1588726.98   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                             | Dynatrace, Inc.                           | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |     49263 | NS      | $1821745.74   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                          | elf Beauty, Inc.                          | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      6254 | NS      | $379054.94    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                      | Eagle Materials, Inc.                     | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      2554 | NS      | $483855.30    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| East West Bancorp Inc                     | East West Bancorp, Inc.                   | CUSIP: 27579R104<br>LEI: 254900O4X656YXFOYB11 | Long             | EC               | CORP              | US        |     10658 | NS      | $1137848.08   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp.                            | EchoStar Corporation                      | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |     19791 | NS      | $2316932.37   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Emcor Group Inc                           | EMCOR Group, Inc.                         | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      1733 | NS      | $1279491.23   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corporation              | Encompass Health Corporation              | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     15860 | NS      | $1534137.80   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc                          | Ensign Group, Inc. (The)                  | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |      8995 | NS      | $1812492.50   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Lifestyle Properties Inc           | Equity LifeStyle Properties, Inc. REIT    | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     15173 | NS      | $947098.66    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc.                             | Evercore, Inc. Class A                    | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      3863 | NS      | $1153144.13   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                         | Expedia Group, Inc.                       | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      4004 | NS      | $924483.56    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                           | First Solar, Inc.                         | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      3966 | NS      | $782333.16    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                            | Five Below, Inc.                          | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      8603 | NS      | $1965613.44   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                     | Flowserve Corporation                     | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     21133 | NS      | $1553486.83   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corporation                           | Fox Corporation Non-Voting                | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      5038 | NS      | $294219.20    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc         | Gaming and Leisure Properties, Inc. REIT  | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     18386 | NS      | $815786.82    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corporation              | General Dynamics Corporation              | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      4946 | NS      | $1697566.12   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Med Inc                            | Globus Medical, Inc. Class A              | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     18385 | NS      | $1584051.60   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc                | Grand Canyon Education, Inc.              | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      4097 | NS      | $696612.91    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                    | Guidewire Software, Inc.                  | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     11854 | NS      | $1772884.24   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc                 | Halozyme Therapeutics, Inc.               | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     17598 | NS      | $1137358.74   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                         | Hamilton Lane, Inc.                       | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      3425 | NS      | $340445.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthequity Inc                          | HealthEquity, Inc.                        | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     13369 | NS      | $1117247.33   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hims & Hers Health Inc                    | Hims & Hers Health, Inc.                  | CUSIP: 433000106<br>LEI: 254900V041EIVTSB6D58 | Long             | EC               | CORP              | US        |     37546 | NS      | $779454.96    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                       | Houlihan Lokey, Inc.                      | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |      4652 | NS      | $668120.24    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                   | ITT, Inc.                                 | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     12278 | NS      | $2339327.34   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc             | Interactive Brokers Group, Inc. Class A   | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     17340 | NS      | $1162993.80   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                             | iShares Russell Mid-Cap Growth ETF        | CUSIP: 464287481<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      6606 | NS      | $846360.72    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                             | iShares S&P Mid-Cap 400 Growth ETF        | CUSIP: 464287606<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      8729 | NS      | $878311.98    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                 | Kinsale Capital Group, Inc.               | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      3446 | NS      | $1177360.36   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions, Inc. | Kratos Defense & Security Solutions, Inc. | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     29493 | NS      | $2079551.43   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company                 | Lamar Advertising Company Class A         | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |      8275 | NS      | $1048111.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                     | Lantheus Holdings, Inc.                   | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      6765 | NS      | $513125.25    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC Investment Corp.                     | MGIC Investment Corporation               | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     17121 | NS      | $449426.25    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc.                                  | MKS, Inc.                                 | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      8402 | NS      | $1930863.62   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc.  | MACOM Technology Solutions Holdings, Inc. | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11290 | NS      | $2507170.30   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                  | Manhattan Associates, Inc.                | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |      5762 | NS      | $767037.44    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                              | MasTec, Inc.                              | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     10256 | NS      | $3299765.44   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc.                     | Medpace Holdings, Inc.                    | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      3447 | NS      | $1655214.93   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                           | Morningstar, Inc.                         | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |      1863 | NS      | $314940.15    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc.                   | Mueller Industries, Inc.                  | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     12348 | NS      | $1368158.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                | Neurocrine Biosciences, Inc.              | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     16058 | NS      | $2115480.92   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The New York Times Company                | New York Times Company (The) Class A      | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     24148 | NS      | $2021912.04   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                       | Newmont Corporation                       | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     17529 | NS      | $1897514.25   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc.                            | Nextpower, Inc.                           | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15762 | NS      | $1900109.10   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                               | Novanta, Inc.                             | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | US        |      2583 | NS      | $305078.13    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                                 | Okta, Inc.                                | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     24598 | NS      | $1936108.58   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.       | Ollie's Bargain Outlet Holdings, Inc.     | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      5029 | NS      | $462869.16    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.          | Omega Healthcare Investors, Inc. REIT     | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     25744 | NS      | $1128102.08   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                      | Onto Innovation, Inc.                     | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |      4140 | NS      | $848989.80    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corporation             | Paylocity Holding Corporation             | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |      6802 | NS      | $734888.08    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc.                             | Penumbra, Inc.                            | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      5774 | NS      | $1896008.38   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.          | Philip Morris International, Inc.         | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     11000 | NS      | $1818740.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc.                       | Planet Fitness, Inc. Class A              | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      8046 | NS      | $598461.48    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Primerica, Inc.                           | Primerica, Inc.                           | CUSIP: 74164M108<br>LEI: 254900621R686KJR7022 | Long             | EC               | CORP              | US        |      2864 | NS      | $717374.72    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Everpure Inc.                             | Everpure, Inc. CLASS A                    | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     34729 | NS      | $2050400.16   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                                | Qualys, Inc.                              | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      5999 | NS      | $527012.15    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                             | RB Global, Inc.                           | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | US        |     22111 | NS      | $2119339.35   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                               | Rambus, Inc.                              | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     19707 | NS      | $1695393.21   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp.                        | Ralph Lauren Corporation                  | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      1398 | NS      | $480898.02    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc               | Ryan Specialty Holdings, Inc.             | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11789 | NS      | $397760.86    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Investments Co                        | SEI Investments Company                   | CUSIP: 784117103<br>LEI: 5LJTIFADGZ6XH1RVOC11 | Long             | EC               | CORP              | US        |      8550 | NS      | $670918.50    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp.                                 | SLM Corporation                           | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17336 | NS      | $371163.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                    | SPX Technologies, Inc.                    | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7958 | NS      | $1591122.52   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                       | Shift4 Payments, Inc.                     | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7210 | NS      | $315293.30    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Laboratories, Inc.                | Silicon Laboratories, Inc.                | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |      2952 | NS      | $614458.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                  | Simon Property Group, Inc. REIT           | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      4882 | NS      | $910639.46    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc.             | Simpson Manufacturing Company, Inc.       | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |      3182 | NS      | $546094.84    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc               | Sprouts Farmers Market, Inc.              | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      6351 | NS      | $489852.63    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation              | Stifel Financial Corporation              | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     13483 | NS      | $996663.36    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc.                   | TKO Group Holdings, Inc. Class A          | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2291 | NS      | $461980.15    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Somnigroup International Inc.             | Somnigroup International, Inc.            | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |     25749 | NS      | $1903366.08   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corporation              | Tenet Healthcare Corporation              | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     11803 | NS      | $2227344.13   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                            | Tetra Tech, Inc.                          | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |     40531 | NS      | $1220793.72   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                       | Texas Roadhouse, Inc.                     | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     10113 | NS      | $1670060.82   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Topbuild Corporation                      | TopBuild Corporation                      | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      4429 | NS      | $1555907.70   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel Plus Leisure Co                    | Travel + Leisure Company                  | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |      9698 | NS      | $671004.62    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals, Inc.                      | United Rentals, Inc.                      | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |      1312 | NS      | $955870.72    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corporation           | United Therapeutics Corporation           | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      4507 | NS      | $2672560.86   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc.                               | Ventas, Inc. REIT                         | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      9185 | NS      | $751149.30    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corporation                       | Vontier Corporation                       | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |      9660 | NS      | $342640.20    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| W. P. Carey Inc                           | WP Carey, Inc. REIT                       | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |     18389 | NS      | $1249716.44   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Watts Water Technologies Inc.             | Watts Water Technologies, Inc. Class A    | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               | CORP              | US        |      4182 | NS      | $1213992.78   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                              | Wingstop, Inc.                            | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |      4413 | NS      | $683882.61    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Inc.                             | Woodward, Inc.                            | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |      7983 | NS      | $2857275.36   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                               | Workday, Inc. Class A                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      3639 | NS      | $472778.88    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | BBH Overnight Sweep                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |    693774 | PA      | $693773.55    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion PLC                              | Allegion plc                              | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | IE        |      1685 | NS      | $244813.65    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc             | Weatherford International plc             | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | US        |      4941 | NS      | $467319.78    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NVent Electric PLC                        | nVent Electric plc                        | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     24160 | NS      | $2857644.80   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.               | RenaissanceRe Holdings Ltd.               | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |      3611 | NS      | $1073297.53   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC plc                            | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     51822 | NS      | $3582454.86   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

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

**Signature:** Keith D. Kemp

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

**Title:** President