# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-26-003325
**Filing Date:** 2026-5
**Character Count:** 41577
**Document Hash:** af3498043d177fde4ef7cf56417a58b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-26-003325.hdr.sgml**: 20260526

**ACCESSION NUMBER**: 0000035402-26-003325

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260526

**DATE AS OF CHANGE**: 20260526

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 261017434

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Crypto Industry and Digital Payments ETF (Series ID: S000075902)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000235243 | Fidelity Crypto Industry and Digital Payments ETF | FDIG            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Crypto Industry and Digital Payments ETF**

**March 31, 2026**

CID-NPRT3-0526

1.9904975.103 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.8%** | &nbsp;&nbsp;**Common Stocks - 99.8%** | &nbsp;&nbsp;**Common Stocks - 99.8%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 5.7%  |  |  |
| Financials - 0.9% |  |  |
| Consumer Finance - 0.9% |  |  |
| Zip Co Ltd (a) | 1866398 | 1981359 |
| Information Technology - 4.8% |  |  |
| Software - 4.8% |  |  |
| IREN Ltd (a)(b) | 296089 | 10149931 |
| TOTAL AUSTRALIA |  | 12131290 |
| BRAZIL - 3.1%  |  |  |
| Financials - 3.1% |  |  |
| Financial Services - 3.1% |  |  |
| Pagseguro Digital Ltd Class A  | 293894 | 2944818 |
| StoneCo Ltd Class A (a) | 257423 | 3634813 |
| TOTAL BRAZIL |  | 6579631 |
| CANADA - 7.4%  |  |  |
| Information Technology - 7.4% |  |  |
| IT Services - 1.4% |  |  |
| Shopify Inc Class A (a) | 26362 | 3117990 |
| Software - 6.0% |  |  |
| Bitfarms Ltd/Canada (a)(b) | 2108636 | 4124952 |
| Hive Digital Technologies Ltd (United States) (a)(b) | 1385116 | 2631720 |
| Hut 8 Corp (United States) (a)(b) | 124337 | 5832649 |
|  |  | 12589321 |
| TOTAL CANADA |  | 15707311 |
| CHINA - 1.6%  |  |  |
| Financials - 0.7% |  |  |
| Capital Markets - 0.7% |  |  |
| OSL Group Ltd (a)(b) | 833000 | 1487462 |
| Information Technology - 0.9% |  |  |
| Technology Hardware, Storage & Peripherals - 0.9% |  |  |
| Canaan Inc Class A ADR (a)(b) | 4151349 | 1792553 |
| TOTAL CHINA |  | 3280015 |
| GRAND CAYMAN (UK OVERSEAS TER) - 1.9%  |  |  |
| Financials - 1.9% |  |  |
| Capital Markets - 1.9% |  |  |
| Bullish (b) | 111445 | 3981930 |
| ISRAEL - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Capital Markets - 1.3% |  |  |
| Etoro Group Ltd Class A  | 89085 | 2675223 |
| ITALY - 1.5%  |  |  |
| Financials - 1.5% |  |  |
| Financial Services - 1.5% |  |  |
| Nexi SpA (b)(c)(d) | 854925 | 3132442 |
| JAPAN - 4.0%  |  |  |
| Communication Services - 0.4% |  |  |
| Media - 0.4% |  |  |
| Ceres Inc/Japan (b) | 102900 | 917814 |
| Financials - 2.5% |  |  |
| Capital Markets - 2.5% |  |  |
| Monex Group Inc  | 364200 | 1533811 |
| SBI Holdings Inc  | 208000 | 3724886 |
| TOTAL FINANCIALS |  | 5258697 |
| Information Technology - 1.1% |  |  |
| IT Services - 1.1% |  |  |
| CAICA DIGITAL Inc (a)(b) | 2126100 | 1015674 |
| GMO internet group Inc  | 73300 | 1320727 |
| TOTAL INFORMATION TECHNOLOGY |  | 2336401 |
| TOTAL JAPAN |  | 8512912 |
| KOREA (SOUTH) - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Financial Services - 1.0% |  |  |
| Danal Co Ltd (a) | 550901 | 2143682 |
| MALAYSIA - 0.8%  |  |  |
| Industrials - 0.8% |  |  |
| Professional Services - 0.8% |  |  |
| Zetrix Ai Bhd  | 9365299 | 1711612 |
| NETHERLANDS - 1.5%  |  |  |
| Financials - 1.5% |  |  |
| Capital Markets - 0.0% |  |  |
| Coincheck Group NV (a) | 19164 | 28363 |
| Financial Services - 1.5% |  |  |
| Adyen NV (a)(c)(d) | 3284 | 3218521 |
| TOTAL NETHERLANDS |  | 3246884 |
| THAILAND - 0.4%  |  |  |
| Communication Services - 0.4% |  |  |
| Diversified Telecommunication Services - 0.4% |  |  |
| Jasmine Technology Solution PCL (a) | 574800 | 932437 |
| UNITED KINGDOM - 1.5%  |  |  |
| Financials - 1.5% |  |  |
| Financial Services - 1.5% |  |  |
| Klarna Group PLC (a)(b) | 241660 | 3163329 |
| UNITED STATES - 68.1%  |  |  |
| Financials - 32.9% |  |  |
| Capital Markets - 12.0% |  |  |
| Bakkt Inc Class A (a)(b) | 227295 | 1672891 |
| Bitgo Holdings Inc Class A (b) | 196373 | 1616150 |
| Coinbase Global Inc Class A (a) | 65366 | 11413557 |
| Galaxy Digital Inc Class A (b) | 220297 | 4064480 |
| Gemini Space Station Inc Class A (b) | 258532 | 1142711 |
| Robinhood Markets Inc Class A (a) | 58753 | 4071583 |
| Twenty One Capital Inc Class A (b) | 215837 | 1381357 |
|  |  | 25362729 |
| Consumer Finance - 2.2% |  |  |
| Figure Technology Solutions Inc Class A  | 138517 | 4702652 |
| Financial Services - 18.7% |  |  |
| Block Inc Class A (a) | 110896 | 6673721 |
| Chime Financial Inc Class A (a)(b) | 153607 | 2877059 |
| Corpay Inc (a) | 10945 | 3184886 |
| Fiserv Inc (a) | 55588 | 3101810 |
| Flywire Corp (a) | 174010 | 2025476 |
| Global Payments Inc  | 45343 | 3051584 |
| Mastercard Inc Class A  | 6766 | 3380700 |
| Paymentus Holdings Inc Class A (a) | 88044 | 2236318 |
| PayPal Holdings Inc  | 74514 | 3370268 |
| Shift4 Payments Inc Class A (a)(b) | 72446 | 3168064 |
| Visa Inc Class A  | 11100 | 3354864 |
| WEX Inc (a) | 20620 | 3155685 |
|  |  | 39580435 |
| TOTAL FINANCIALS |  | 69645816 |
| Information Technology - 35.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.5% |  |  |
| Forward Industries Inc (b) | 258344 | 1144464 |
| IT Services - 3.7% |  |  |
| Applied Digital Corp (a)(b) | 325328 | 7723287 |
| Software - 31.0% |  |  |
| Bit Digital Inc (a)(b) | 1886294 | 2471045 |
| Bitdeer Technologies Group Class A (a)(b) | 424003 | 3667626 |
| BitMine Immersion Technologies Inc (b) | 463814 | 9174241 |
| BTCS Inc (b) | 604628 | 840432 |
| Cipher Digital Inc (a)(b) | 531763 | 6843790 |
| Circle Internet Group Inc Class A  | 107316 | 10239020 |
| Cleanspark Inc (a)(b) | 618630 | 5264541 |
| Core Scientific Inc (a)(b) | 335772 | 5023149 |
| Digi Power X Inc (United States) (a)(b) | 623763 | 1266238 |
| MARA Holdings Inc (a)(b) | 800867 | 6535075 |
| Riot Platforms Inc (a) | 424313 | 5244509 |
| Soluna Holdings Inc (a)(b) | 1960107 | 1385404 |
| Terawulf Inc (a)(b) | 506460 | 7308218 |
|  |  | 65263288 |
| TOTAL INFORMATION TECHNOLOGY |  | 74131039 |
| TOTAL UNITED STATES |  | 143776855 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $240,649,501) |  | <br> **210975553** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 36.4%** | &nbsp;&nbsp;**Money Market Funds - 36.4%** | &nbsp;&nbsp;**Money Market Funds - 36.4%** | &nbsp;&nbsp;**Money Market Funds - 36.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 384810 | 384886 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 76578980 | 76586638 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $76,971,524) |  |  | **76971524** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 136.2%**<br> (Cost $317,621,025)<br>| <br>**287947077** |
| **NET OTHER ASSETS (LIABILITIES) - (36.2)%** (e)  | **(76526559)** |
| **NET ASSETS - 100.0%** | **211420518** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Equity Contracts |  |  |  |  |
| CME E-Mini Nasdaq 100 Index Contracts (United States) | 2 | 6/2026 | 95660 | 3116 |
| CME E-Mini Russell 2000 Index Contracts (United States) | 2 | 6/2026 | 251220 | 1653 |
| **TOTAL FUTURES CONTRACTS** |  |  |  | **4769** |
| The notional amount of long futures as a percentage of Net Assets is 0.1%. | The notional amount of long futures as a percentage of Net Assets is 0.1%. | The notional amount of long futures as a percentage of Net Assets is 0.1%. | The notional amount of long futures as a percentage of Net Assets is 0.1%. | The notional amount of long futures as a percentage of Net Assets is 0.1%. |

---

**Legend**

(a) Non-income producing.

(b) Security or a portion of the security is on loan at period end.

(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $6,350,963 or 3.0% of net assets.

(d) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $6,350,963 or 3.0% of net assets.

(e) Includes $72,340 of cash collateral to cover margin requirements for futures contracts.

(f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(g) Investment made with cash collateral received from securities on loan.

At period end, the value of non-cash collateral for securities on loan amounted to $2,788,330.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 425752 | 20814172 | 20854874 | 17970 | (163) | (1) | 384886 | 384810 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 55926092 | 578237393 | 557577161 | 845386 | 314 | - | 76586638 | 76578980 | 0.2% |
| Total | 56351844 | 599051565 | 578432035 | 863356 | 151 | (1) | 76971524 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

**Derivative Instruments**

Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk(s):

Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.

The Fund used futures contracts to manage its exposure to the stock market.

Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Crypto Industry and Digital Payments ETF

- **b. EDGAR series identifier (if any):** S000075902

- **c. LEI of Series:** 5493000W2GFOGPRX0Z53

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

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

- **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:** $291556365.56

**Total Liabilities:** $80136974.99

**Net Assets:** $211419390.57

**Cash Not Reported:** $143139.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000235243 | 3.52%                | -10.00%              | -8.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8.16                    | $8816637.79                                |
| Month 2  | $2369161.75              | $-29395677.26                              |
| Month 3  | $-5691365.05             | $-13769062.68                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| APPLIED DIGITAL CORP               | APPLIED DIGITAL CORP                          | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |    324661 | NS      | $7707452.14   | 3.65%             |  |  |  | No            |                  1 | On Loan: —       |
| BTCS INC                           | BTCS INC                                      | CUSIP: 05581M404<br>LEI: 549300HVP35DWSOZOH21 | Long             | EC               | CORP              | US        |    603389 | NS      | $838710.71    | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| DANAL CO LTD                       | DANAL CO LTD                                  | CUSIP: N/A<br>LEI: 988400TCF85ZEGJNEL94       | Long             | EC               | CORP              | KR        |    550901 | NS      | $2143681.62   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MONEX GROUP INC                    | MONEX GROUP INC                               | CUSIP: N/A<br>LEI: 353800SGXKLYGPUJ4648       | Long             | EC               | CORP              | JP        |    364200 | NS      | $1533811.05   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| JASMINE TECHNOLOGY SOLUTION PCL    | JASMINE TELECOM SYS PCL (LOC)                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |    574800 | NS      | $932437.84    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ZETRIX AI BERHAD                   | ZETRIX AI BERHAD                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |   9365299 | NS      | $1711613.06   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    384810 | NS      | $384886.56    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  80054860 | NS      | $80062865.62  | 37.87%            |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                         | FISERV INC                                    | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     55474 | NS      | $3095449.20   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY INC                         | CORPAY INC                                    | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     10923 | NS      | $3178483.77   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC                | GLOBAL PAYMENTS INC                           | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     45249 | NS      | $3045257.70   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| GMO INTERNET GROUP INC             | GMO INTERNET GROUP INC                        | CUSIP: N/A<br>LEI: 529900BFZEY3BESHBW90       | Long             | EC               | CORP              | JP        |     73300 | NS      | $1320726.95   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| OSL GROUP LTD                      | OSL GROUP LTD                                 | CUSIP: N/A<br>LEI: 254900CO7POSAPH8UL47       | Long             | EC               | CORP              | KY        |    833000 | NS      | $1487462.05   | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |
| MARA HOLDINGS INC                  | MARA HOLDINGS INC                             | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Long             | EC               | CORP              | US        |    799225 | NS      | $6521676.00   | 3.08%             |  |  |  | No            |                  1 | On Loan: —       |
| MASTERCARD INC                     | MASTERCARD INC CL A                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      6752 | NS      | $3373704.32   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLUNA HOLDINGS INC                | SOLUNA HOLDINGS INC                           | CUSIP: 583543301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1956089 | NS      | $1382563.71   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| CAICA DIGITAL INC                  | CAICA DIGITAL INC                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |   2126100 | NS      | $1015674.15   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| PAYPAL HOLDINGS INC                | PAYPAL HLDGS INC                              | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     74361 | NS      | $3363348.03   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CERES INC/JAPAN                    | CERES INC/JAPAN                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    102900 | NS      | $917814.44    | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| BITMINE IMMERSION TECHNOLOGIES INC | BITMINE IMMERSION TECHNOLOGIES INC            | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |    462863 | NS      | $9155430.14   | 4.33%             |  |  |  | No            |                  1 | On Loan: —       |
| ADYEN NV                           | ADYEN BV                                      | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Long             | EC               | CORP              | NL        |      3284 | NS      | $3218521.37   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC                        | SHOPIFY INC CL A                              | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |     26308 | NS      | $3111603.65   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOCK INC                          | BLOCK INC CL A                                | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |    110669 | NS      | $6660060.42   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI HLDGS INC JAPAN                | SBI HOLDINGS INC                              | CUSIP: N/A<br>LEI: 353800L6LMHYIPSMRQ17       | Long             | EC               | CORP              | JP        |    208000 | NS      | $3724885.29   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| RIOT PLATFORMS INC                 | RIOT PLATFORMS INC                            | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |    423443 | NS      | $5233755.48   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                           | VISA INC CL A                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     11077 | NS      | $3347912.48   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX INC                            | WEX INC                                       | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     20577 | NS      | $3149104.08   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIP CO LTD                         | ZIP CO LTD                                    | CUSIP: N/A<br>LEI: 254900RM95URFC15G140       | Long             | EC               | CORP              | AU        |   1866398 | NS      | $1981358.79   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HIVE DIGITAL TECHNOLOGIES LTD      | HIVE DIGITAL TECHNOLOGIES LTD                 | CUSIP: 433921103<br>LEI: 5493004QCZ1QBI9FS784 | Long             | EC               | CORP              | CA        |   1382276 | NS      | $2626324.40   | 1.24%             |  |  |  | No            |                  1 | On Loan: —       |
| PAGSEGURO DIGITAL LTD              | PAGSEGURO DIGITAL LTD CL A                    | CUSIP: N/A<br>LEI: 391200VY4YW47I4HGH62       | Long             | EC               | CORP              | KY        |    293292 | NS      | $2938785.84   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BIT DIGITAL INC                    | BIT DIGITAL INC                               | CUSIP: N/A<br>LEI: 2549005XLPRWS7HWCM31       | Long             | EC               | CORP              | KY        |   1882427 | NS      | $2465979.37   | 1.17%             |  |  |  | No            |                  1 | On Loan: —       |
| CLEANSPARK INC                     | CLEANSPARK INC                                | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Long             | EC               | CORP              | US        |    617362 | NS      | $5253750.62   | 2.48%             |  |  |  | No            |                  1 | On Loan: —       |
| STONECO LTD                        | STONECO LTD CL A                              | CUSIP: N/A<br>LEI: 549300O1A9LEF0XZCR35       | Long             | EC               | CORP              | KY        |    256895 | NS      | $3627357.40   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXI SPA                           | NEXI SPA                                      | CUSIP: N/A<br>LEI: 5493000P70CQRQG8SN85       | Long             | EC               | CORP              | IT        |    854925 | NS      | $3132441.77   | 1.48%             |  |  |  | No            |                  1 | On Loan: —       |
| HUT 8 CORP                         | HUT 8 CORP                                    | CUSIP: 44812J104<br>LEI: 5493006XP230HIL5DH67 | Long             | EC               | CORP              | US        |    124082 | NS      | $5820686.62   | 2.75%             |  |  |  | No            |                  1 | On Loan: —       |
| BITFARMS LTD/CANADA                | BITFARMS LTD/CANADA                           | CUSIP: 09173B107<br>LEI: 254900YWMA64Y1RPNJ12 | Long             | EC               | CORP              | CA        |   2104314 | NS      | $4116496.88   | 1.95%             |  |  |  | No            |                  1 | On Loan: —       |
| CANAAN INC                         | CANAAN INC ADR                                | CUSIP: 134748102<br>LEI: 254900OEOGK9ALNMUN24 | Long             | EC               | CORP              | KY        |   4142839 | NS      | $1788877.88   | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| SHIFT4 PAYMENTS INC                | SHIFT4 PAYMENTS INC                           | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72298 | NS      | $3161591.54   | 1.50%             |  |  |  | No            |                  1 | On Loan: —       |
| BAKKT INC                          | BAKKT INC A                                   | CUSIP: 05759B305<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    226829 | NS      | $1669461.44   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| CIPHER DIGITAL INC                 | CIPHER DIGITAL INC                            | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |    530672 | NS      | $6829748.64   | 3.23%             |  |  |  | No            |                  1 | On Loan: —       |
| COINBASE GLOBAL INC                | COINBASE GLOBAL INC                           | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |     65232 | NS      | $11390159.52  | 5.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBINHOOD MARKETS INC              | ROBINHOOD MARKETS INC                         | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     58633 | NS      | $4063266.90   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIME FINANCIAL INC                | CHIME FINANCIAL INC                           | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    153292 | NS      | $2871159.16   | 1.36%             |  |  |  | No            |                  1 | On Loan: —       |
| FLYWIRE CORP                       | FLYWIRE CORP                                  | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |    173653 | NS      | $2021320.92   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYMENTUS HOLDINGS INC             | PAYMENTUS HOLDINGS INC CL A                   | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     87864 | NS      | $2231745.60   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IREN LTD                           | IREN LTD                                      | CUSIP: N/A<br>LEI: 254900FZF02RB3NNGB71       | Long             | EC               | CORP              | AU        |    295482 | NS      | $10129122.96  | 4.79%             |  |  |  | No            |                  1 | On Loan: —       |
| DIGI POWER X INC                   | DIGI POWER X INC                              | CUSIP: 25380B102<br>LEI: 5299001U7RVW74W46M33 | Long             | EC               | CORP              | CA        |    622484 | NS      | $1263642.52   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| TERAWULF INC                       | TERAWULF INC                                  | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |    505421 | NS      | $7293225.03   | 3.45%             |  |  |  | No            |                  1 | On Loan: —       |
| BITDEER TECHNOLOGIES GROUP         | BITDEER TECHNOLOGIES GROUP                    | CUSIP: N/A<br>LEI: 2549007M2KGWVJ9XFP20       | Long             | EC               | CORP              | KY        |    423134 | NS      | $3660109.10   | 1.73%             |  |  |  | No            |                  1 | On Loan: —       |
| CORE SCIENTIFIC INC                | CORE SCIENTIFIC INC                           | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |    335084 | NS      | $5012856.64   | 2.37%             |  |  |  | No            |                  1 | On Loan: —       |
| COINCHECK GROUP BV                 | COINCHECK GROUP BV                            | CUSIP: N/A<br>LEI: 5299004Z2A5SO6LXBB37       | Long             | EC               | CORP              | NL        |     44816 | NS      | $66327.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCH INC        | E-MINI RUSS 2000 FUT JUN26 RTYM6              | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |         4 | NC      | $3306.04      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCH INC        | NASD100 MICRO FUT EMINJUN26 HWBM6             | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |         5 | NC      | $1804.25      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KLARNA GROUP PLC                   | KLARNA GROUP PLC                              | CUSIP: N/A<br>LEI: 636700HER4JIK7GZUN17       | Long             | EC               | CORP              | GB        |    241164 | NS      | $3156836.76   | 1.49%             |  |  |  | No            |                  1 | On Loan: —       |
| CIRCLE INTERNET GROUP INC          | CIRCLE INTERNET GROUP INC A                   | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |    107096 | NS      | $10218029.36  | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ETORO GROUP LTD                    | ETORO GROUP LTD                               | CUSIP: N/A<br>LEI: 213800XPRPJK2X5QRG86       | Long             | EC               | CORP              | VG        |     88902 | NS      | $2669727.06   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GALAXY DIGITAL INC                 | GALAXY DIGITAL INC A                          | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |    219846 | NS      | $4056158.70   | 1.92%             |  |  |  | No            |                  1 | On Loan: —       |
| BULLISH                            | BULLISH                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    111217 | NS      | $3973783.41   | 1.88%             |  |  |  | No            |                  1 | On Loan: —       |
| GEMINI SPACE STATION INC           | GEMINI SPACE STATION INC                      | CUSIP: 36866J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    258002 | NS      | $1140368.84   | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| FIGURE TECHNOLOGY SOLUTIONS INC    | FIGURE TECHNOLOGY SOLUTIONS INC A             | CUSIP: 349381103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138233 | NS      | $4693010.35   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TWENTY ONE CAPITAL INC             | TWENTY ONE CAPITAL INC A                      | CUSIP: 90138L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    215395 | NS      | $1378528.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| BITGO HOLDINGS INC                 | BITGO HOLDINGS INC A                          | CUSIP: 091947101<br>LEI: 254900UPX35JR22RH064 | Long             | EC               | CORP              | US        |    195970 | NS      | $1612833.10   | 0.76%             |  |  |  | No            |                  1 | On Loan: —       |
| FORWARD INDUSTRIES INC/NEW         | FORWARD INDUSTRIES INC/NEW                    | CUSIP: 349932103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    257815 | NS      | $1142120.45   | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer