# EDGAR Filing Document

**Accession Number:** 0001936157
**File Stem:** 0001936157-26-000066
**Filing Date:** 2026-2
**Character Count:** 51157
**Document Hash:** 88bd0cafeb1d1d56dd082441fc4e446d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001936157-26-000066.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001936157-26-000066

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elevation Series Trust
- **CENTRAL INDEX KEY:** 0001936157

**ORGANIZATION NAME:**
- **EIN:** 882465192
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23812
- **FILM NUMBER:** 26677081

**BUSINESS ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 2100
- **CITY:** DENVER
- **STATE:** CO
- **BUSINESS PHONE:** 7202128740

**MAIL ADDRESS:**
- **STREET 1:** 1700 BROADWAY
- **STREET 2:** SUITE 2100
- **CITY:** DENVER
- **STATE:** CO

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Consortio Funds Trust
- **DATE OF NAME CHANGE:** 20220630

## Series and Classes Contracts Data

### TrueShares Active Yield ETF (Series ID: S000092121)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000260044 | TrueShares Active Yield ETF |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Elevation Series Trust

- **b. Investment Company Act file number:** 811-23812

- **c. CIK number of Registrant:** 0001936157

- **d. LEI of Registrant:** 549300QVQ3VLO2G2BM75

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

  - **Street Address 1:** 1700 Broadway Suite 2100

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80290

  - **Telephone number:** 8775249155

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

- **a. Name of Series:** TrueShares Active Yield ETF

- **b. EDGAR series identifier (if any):** S000092121

- **c. LEI of Series:** 529900K8NDB07R3RTA78

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $57808163.13

**Total Liabilities:** $53943.93

**Net Assets:** $57754219.20

**Cash Not Reported:** $1998.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000260044 | -4.83%               | 0.62%                | -1.57%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5077971.53             | $-2798700.24                               |
| Month 2  | $-189503.32              | $263265.84                                 |
| Month 3  | $-1293154.13             | $-738146.62                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alerian MLP ETF                 | Alerian MLP ETF                                   | CUSIP: 00162Q452<br>LEI: 549300WPBLCQJSVVVV61 | Long             | EC               | RF                | US        |      2112 | NS      | $99306.24     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                      | AbbVie Inc                                        | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      2694 | NS      | $615552.06    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aberdeen Asia-Pacific Income F  | Aberdeen Asia-Pacific Income                      | CUSIP: 003009867<br>LEI: 549300J666ZH67203572 | Long             | EC               | RF                | US        |     22152 | NS      | $339811.68    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                | Altria Group Inc                                  | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      6147 | NS      | $354436.02    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                       | Amgen Inc                                         | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |       973 | NS      | $318472.63    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplify CEF High Income ETF     | Amplify CEF High Income ETF                       | CUSIP: 032108847<br>LEI: 529900AIXCWKEFWLQB79 | Long             | EC               | RF                | US        |     19017 | NS      | $218885.67    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc   | Annaly Capital Management Inc                     | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     17057 | NS      | $381394.52    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MidCap Financial Investment Co  | MidCap Financial Investment Co                    | CUSIP: 03761U502<br>LEI: 5493005P14I7WFB3FW47 | Long             | EC               | CORP              | US        |     24108 | NS      | $275795.52    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbor Realty Trust Inc          | Arbor Realty Trust Inc                            | CUSIP: 038923108<br>LEI: 549300ASFUWYQO0RW077 | Long             | EC               | CORP              | US        |      9685 | NS      | $75155.60     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Management Corp            | Ares Management Corp                              | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |      2964 | NS      | $479071.32    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Capital Corp               | Ares Capital Corp                                 | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               | CORP              | US        |      6066 | NS      | $122715.18    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR Residential REIT Inc     | ARMOUR Residential REIT Inc                       | CUSIP: 042315705<br>LEI: 549300K0WA0EJUX74V72 | Long             | EC               | CORP              | US        |     13113 | NS      | $231968.97    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Barings Global Short Duration   | Barings Global Short Duration High Yield          | CUSIP: 06760L100<br>LEI: 549300WWIZCL845OP089 | Long             | EC               | RF                | US        |      7476 | NS      | $112214.76    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp             | BARRICK MINING CORPORATION                        | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |      4090 | NS      | $178119.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Debt Strategies Fund  | BlackRock Debt Strategies Fund                    | CUSIP: 09255R202<br>LEI: Y02PFSGMGNYKWM70AJ95 | Long             | EC               | RF                | US        |     81573 | NS      | $830413.14    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Multi-Sector Income   | BlackRock Multi-Sector Income                     | CUSIP: 09258A107<br>LEI: 549300BOVTR6GS7HLC41 | Long             | EC               | RF                | US        |     19955 | NS      | $260612.30    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block Inc                   | H&R Block Inc                                     | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |      2691 | NS      | $117273.78    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co         | Bristol-Myers Squibb Co                           | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      3421 | NS      | $184528.74    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC    | British American Tobacco PLC                      | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |      2675 | NS      | $151458.50    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc              | Coterra Energy Inc                                | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     17176 | NS      | $452072.32    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Campbell's Company/The          | The Campbell's Company                            | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               | CORP              | US        |      6613 | NS      | $184304.31    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Camping World Holdings Inc      | Camping World Holdings Inc                        | CUSIP: 13462K109<br>LEI: 549300E828QQI7MWI432 | Long             | EC               | CORP              | US        |     63897 | NS      | $621717.81    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd  | Canadian Natural Resources Ltd                    | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     13099 | NS      | $443401.15    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc             | Cardinal Health Inc                               | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      2410 | NS      | $495255.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc              | Cenovus Energy Inc                                | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     14502 | NS      | $245373.84    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ChoiceOne Financial Services I  | ChoiceOne Financial Services Inc                  | CUSIP: 170386106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3103 | NS      | $91600.56     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ClearBridge Energy Midstream O  | ClearBridge Energy Midstream Opportunity          | CUSIP: 18469P209<br>LEI: 549300U6RAJWN6OONX12 | Long             | EC               | RF                | US        |      6319 | NS      | $282143.35    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc             | Clearway Energy Inc                               | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     25519 | NS      | $848761.94    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                   | Clorox Co/The                                     | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      4430 | NS      | $446676.90    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Communications Holdings  | Cogent Communications Holdings                    | CUSIP: 19239V302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29662 | NS      | $639512.72    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc  | Community Healthcare Trust Inc                    | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     24556 | NS      | $403209.52    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc              | Conagra Brands Inc                                | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     36389 | NS      | $629893.59    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc       | Dick's Sporting Goods Inc                         | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |      4623 | NS      | $915215.31    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's Inc                   | Dillard's Inc                                     | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |      1417 | NS      | $859183.78    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc              | Domino's Pizza Inc                                | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       421 | NS      | $175481.22    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Donegal Group Inc               | Donegal Group Inc                                 | CUSIP: 257701201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14552 | NS      | $290748.96    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynex Capital Inc               | Dynex Capital Inc                                 | CUSIP: 26817Q886<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EC               | CORP              | US        |     72205 | NS      | $1011592.05   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ellington Financial Inc         | Ellington Financial Inc                           | CUSIP: 28852N109<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EC               | CORP              | US        |     61883 | NS      | $840371.14    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Erie Indemnity Co               | Erie Indemnity Co                                 | CUSIP: 29530P102<br>LEI: 549300WA5KP94KRUFZ80 | Long             | EC               | CORP              | US        |       790 | NS      | $226453.50    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc       | Ethan Allen Interiors Inc                         | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8375 | NS      | $191285.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| FS KKR Capital Corp             | FS KKR Capital Corp                               | CUSIP: 302635206<br>LEI: 549300TYRSI1T21B1360 | Long             | EC               | CORP              | US        |     71743 | NS      | $1062513.83   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Low Duration Bond Fac  | Fidelity Low Duration Bond Factor                 | CUSIP: 316188408<br>LEI: 549300P0GRJFP715C880 | Long             | EC               | RF                | US        |      3547 | NS      | $178165.81    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidus Investment Corp           | Fidus Investment Corp                             | CUSIP: 316500107<br>LEI: 549300836CRWCROFBC02 | Long             | EC               | CORP              | US        |     30021 | NS      | $579405.30    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstTrust BuyWrite Income ETF  | First Trust BuyWrite Income ETF                   | CUSIP: 33738R308<br>LEI: 549300S03BYRI42X4X71 | Long             | EC               | RF                | US        |      4677 | NS      | $110470.74    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Nasdaq BuyWrite In  | First Trust NASDAQ BuyWrite Income                | CUSIP: 33738R407<br>LEI: 549300IFS6TPZRT5IY12 | Long             | EC               | RF                | US        |     57073 | NS      | $1188259.86   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowers Foods Inc               | Flowers Foods Inc                                 | CUSIP: 343498101<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | EC               | CORP              | US        |     21036 | NS      | $228871.68    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Short Duration U.S. G  | Franklin Short Duration U.S. Government           | CUSIP: 353506108<br>LEI: 549300SJ8ZYS4H43HY44 | Long             | EC               | RF                | US        |      2115 | NS      | $192486.15    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc               | General Mills Inc                                 | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     12279 | NS      | $570973.50    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc             | Gilead Sciences Inc                               | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      4675 | NS      | $573809.50    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Investment Corp       | Gladstone Investment Corp                         | CUSIP: 376546107<br>LEI: 549300HFFTVIBC98Z362 | Long             | EC               | CORP              | US        |     41678 | NS      | $582241.66    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Russell 2000 Covered   | Global X Russell 2000 Covered Call                | CUSIP: 37954Y459<br>LEI: 549300RC73SUF7YB0Q40 | Long             | EC               | RF                | US        |     17716 | NS      | $271054.80    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X S&P 500 Covered Call   | Global X S&P 500 Covered Call                     | CUSIP: 37954Y475<br>LEI: 549300704SF6IBNM0N88 | Long             | EC               | RF                | US        |      8313 | NS      | $337757.19    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Global X Nasdaq 100 Covered Ca  | Global X Nasdaq 100 Covered Call                  | CUSIP: 37954Y483<br>LEI: 54930002VYV0ZD18OT06 | Long             | EC               | RF                | US        |     59045 | NS      | $1043325.15   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Access Treasury   | Goldman Sachs Access Treasury 0-1 Year            | CUSIP: 381430529<br>LEI: 549300Q2J4ZAD8E71F28 | Long             | EC               | RF                | US        |      2756 | NS      | $275434.64    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs BDC Inc           | Goldman Sachs BDC Inc                             | CUSIP: 38147U107<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | EC               | CORP              | US        |     97151 | NS      | $901561.28    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Golub Capital BDC Inc           | Golub Capital BDC Inc                             | CUSIP: 38173M102<br>LEI: 2549005WE0QLGK9APF78 | Long             | EC               | RF                | US        |     54280 | NS      | $736579.60    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Elm Capital Corp          | Great Elm Capital Corp                            | CUSIP: 390320703<br>LEI: 549300JTA9ODXNIVFC33 | Long             | EC               | CORP              | US        |     20994 | NS      | $147902.73    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Guggenheim Strategic Opportuni  | Guggenheim Strategic Opportunities                | CUSIP: 40167F101<br>LEI: 549300ZOXRKM68J8NB63 | Long             | EC               | RF                | US        |    109842 | NS      | $1414764.96   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Capital Inc            | Hercules Capital Inc                              | CUSIP: 427096508<br>LEI: 549300UJ5OC256GR2B73 | Long             | EC               | CORP              | US        |     11717 | NS      | $220513.94    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc              | Houlihan Lokey Inc                                | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |       677 | NS      | $117926.63    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                     | Hubbell Inc                                       | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       399 | NS      | $177199.89    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properti  | Innovative Industrial Properties Inc              | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     20743 | NS      | $982388.48    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Variable Rate Investme  | Invesco Variable Rate Investment Grade ETF        | CUSIP: 46090A879<br>LEI: 549300J21GX50YC4UV93 | Long             | EC               | RF                | US        |      3821 | NS      | $95907.10     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ultra Short Duration E  | Invesco Ultra Short Duration ETF                  | CUSIP: 46090A887<br>LEI: 549300XCPLYCS9LWYT95 | Long             | EC               | RF                | US        |      2670 | NS      | $134167.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Short Term Treasury ET  | Invesco Short Term Treasury ETF                   | CUSIP: 46138G888<br>LEI: 549300E094R1VT171085 | Long             | EC               | RF                | US        |      3343 | NS      | $353187.95    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc               | Iron Mountain Inc                                 | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      2383 | NS      | $197669.85    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 20+ Year Treasury Bond  | iShares 20+ Year Treasury Bond                    | CUSIP: 464287432<br>LEI: 549300WWURKS1JGBZU59 | Long             | EC               | RF                | US        |      1359 | NS      | $118450.44    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 3-7 Year Treasury Bond  | iShares 3-7 Year Treasury Bond                    | CUSIP: 464288661<br>LEI: 549300BUGBHWMFPSNL42 | Long             | EC               | RF                | US        |       986 | NS      | $117679.10    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-1 Year Treasury Bond  | ISHARES 0-1 YEAR TREASURY BOND ETF                | CUSIP: 464288679<br>LEI: 549300F8ZJ4IZLOOBP30 | Long             | EC               | RF                | US        |      1536 | NS      | $169190.40    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Treasury Bond ETF  | iShares U.S. Treasury Bond ETF                    | CUSIP: 46429B267<br>LEI: 549300YMK9GAMCTG8G20 | Long             | EC               | RF                | US        |      4258 | NS      | $98040.45     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Short Duration Bond Ac  | iShares Short Duration Bond Active                | CUSIP: 46431W507<br>LEI: 549300BV2WH8444C2Y33 | Long             | EC               | RF                | US        |      3497 | NS      | $178696.70    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Treasury Floating Rate  | iShares Treasury Floating Rate                    | CUSIP: 46434V860<br>LEI: 549300IH7Y9SW6BCOA50 | Long             | EC               | RF                | US        |      6844 | NS      | $345348.24    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Ultra-Short Municipal  | JPMorgan Ultra-Short Municipal                    | CUSIP: 46641Q654<br>LEI: 549300C27W430AWFZC05 | Long             | EC               | RF                | US        |      1983 | NS      | $101014.02    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Janus Henderson Short Duration  | Janus Henderson Short Duration Income             | CUSIP: 47103U886<br>LEI: 549300N11CDGSC01GZ40 | Long             | EC               | RF                | US        |      9579 | NS      | $470712.06    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR Income Opportunities Fund   | KKR Income Opportunities Fund                     | CUSIP: 48249T106<br>LEI: 549300H65GA67Q2C3B36 | Long             | EC               | RF                | US        |     45255 | NS      | $524505.45    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| KB Home                         | KB Home                                           | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      1617 | NS      | $91214.97     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp             | Kimberly-Clark Corp                               | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      1502 | NS      | $151536.78    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                   | Kroger Co/The                                     | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      4638 | NS      | $289782.24    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp          | Louisiana-Pacific Corp                            | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      2198 | NS      | $177510.48    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp         | Marathon Petroleum Corp                           | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       547 | NS      | $88958.61     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                  | Merck & Co Inc                                    | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      1808 | NS      | $190310.08    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                  | NRG Energy Inc                                    | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |       736 | NS      | $117200.64    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                     | NetEase Inc                                       | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |      3246 | NS      | $446714.52    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Times Co/The           | New York Times Co/The                             | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |      1763 | NS      | $122387.46    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                    | Newmont Corp                                      | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      2749 | NS      | $274487.65    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen NASDAQ 100 Dynamic Over  | Nuveen NASDAQ 100 Dynamic Over                    | CUSIP: 670699107<br>LEI: 549300UZIEJJJ5RD3T06 | Long             | EC               | RF                | US        |      5798 | NS      | $165358.96    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Oaktree Specialty Lending Corp  | Oaktree Specialty Lending Corp                    | CUSIP: 67401P405<br>LEI: 549300J6MGCEU5928620 | Long             | EC               | CORP              | US        |     68543 | NS      | $873237.82    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                     | Ovintiv Inc                                       | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     22687 | NS      | $889103.53    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Ultra Short Bond ETF       | PGIM Ultra Short Bond ETF                         | CUSIP: 69344A107<br>LEI: 549300GB8HES91GNEF23 | Long             | EC               | RF                | US        |      2258 | NS      | $111974.22    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Global High Yield Fund In  | PGIM Global High Yield Fund                       | CUSIP: 69346J106<br>LEI: F0ATD1Y4J8CHDKHSLD09 | Long             | EC               | RF                | US        |      8036 | NS      | $99164.24     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PennyMac Mortgage Investment T  | PennyMac Mortgage Investment Trust                | CUSIP: 70931T103<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EC               | CORP              | US        |     12001 | NS      | $150612.55    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group Inc     | Penske Automotive Group Inc                       | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |      4035 | NS      | $638700.15    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc | Philip Morris International Inc                   | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1294 | NS      | $207557.60    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Corporate & Income Oppor  | PIMCO Corporate & Income Opportunity              | CUSIP: 72201B101<br>LEI: HDLWHPN6NOUBN66AS151 | Long             | EC               | RF                | US        |      9431 | NS      | $121659.90    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Enhanced Short Maturity   | PIMCO Enhanced Short Maturity Active              | CUSIP: 72201R833<br>LEI: VOYE9Z80GB9431LFS645 | Long             | EC               | RF                | US        |      1256 | NS      | $126027.04    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Dynamic Income Fund       | Pimco Dynamic Income Fund                         | CUSIP: 72201Y101<br>LEI: F0MWMXS5YG3P711FB044 | Long             | EC               | RF                | US        |     16472 | NS      | $291719.12    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP           | Plains GP Holdings LP                             | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |      6939 | NS      | $132812.46    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp               | Primo Brands Corp                                 | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |      9432 | NS      | $154213.20    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The            | Progressive Corp/The                              | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      3509 | NS      | $799069.48    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Upbound Group Inc               | Upbound Group Inc                                 | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               | CORP              | US        |     15541 | NS      | $272899.96    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| RiverNorth Capital and Income   | RiverNorth Capital and Income                     | CUSIP: 76882B108<br>LEI: 54930061II7PXY87SC72 | Long             | EC               | RF                | US        |     47966 | NS      | $688791.76    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                     | Rollins Inc                                       | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |      8019 | NS      | $481300.38    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio Sh  | State Street SPDR Portfolio Short Term Treasury   | CUSIP: 78468R101<br>LEI: 549300CVHDNMTIUMZ693 | Long             | EC               | RF                | US        |      6983 | NS      | $204462.24    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Bloomberg 1-  | State Street SPDR Bloomberg 1-3 Month T-Bill ETF  | CUSIP: 78468R663<br>LEI: 549300GQCVCME1YJ6B50 | Long             | EC               | CORP              | US        |      1545 | NS      | $141182.10    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabine Royalty Trust            | Sabine Royalty Trust                              | CUSIP: 785688102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6050 | NS      | $414848.50    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Sixth Street Specialty Lending  | Sixth Street Specialty Lending                    | CUSIP: 83012A109<br>LEI: 549300TX61566GJWCN05 | Long             | EC               | CORP              | US        |     30312 | NS      | $658376.64    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| J M Smucker Co/The              | J M Smucker Co/The                                | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |      2665 | NS      | $260663.65    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SLR Investment Corp             | SLR Investment Corp                               | CUSIP: 83413U100<br>LEI: BJOT6DX9ML6BR3Z0O636 | Long             | EC               | CORP              | US        |      7733 | NS      | $119552.18    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure   | Solaris Energy Infrastructure                     | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |      4087 | NS      | $187879.39    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                 | Southern Co/The                                   | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |       987 | NS      | $86066.40     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp            | Southern Copper Corp                              | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      1567 | NS      | $224817.42    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET INSTITUTIONAL US   | STATE STREET INST U.S. GOVERNMENT MMKT ADMN CLASS | CUSIP: 857492656<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   1581995 | NS      | $1581995.34   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc              | Steel Dynamics Inc                                | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      1552 | NS      | $262986.40    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellus Capital Investment Cor  | Stellus Capital Investment Corp                   | CUSIP: 858568108<br>LEI: 5493001DZV6QC1KUSC43 | Long             | EC               | CORP              | US        |     24827 | NS      | $314806.36    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sturm Ruger & Co Inc            | Sturm Ruger & Co Inc                              | CUSIP: 864159108<br>LEI: 529900DV1BWFJSHFO847 | Long             | EC               | CORP              | US        |      2101 | NS      | $68597.65     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Secured Lending Inc     | Carlyle Secured Lending Inc                       | CUSIP: 872280102<br>LEI: 5493003POT0JT6WD1D83 | Long             | EC               | CORP              | US        |     73729 | NS      | $920875.21    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp            | Targa Resources Corp                              | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      6082 | NS      | $1122129.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn Healthcare Opportunities  | abrdn Healthcare Opportunities                    | CUSIP: 879105104<br>LEI: 549300WT8EMZSV1XVW72 | Long             | EC               | RF                | US        |     52306 | NS      | $1000613.78   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| abrdn World Healthcare Fund     | abrdn World Healthcare Fund                       | CUSIP: 87911L108<br>LEI: 549300XY2WS5AD8KC081 | Long             | EC               | RF                | US        |     41032 | NS      | $524388.96    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp            | Thomson Reuters Corp                              | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |      1286 | NS      | $169610.54    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TIM SA/Brazil                   | TIM SA/Brazil                                     | CUSIP: 88706T108<br>LEI: 529900QI0CH1DN5ZCS77 | Long             | EC               | CORP              | BR        |     11403 | NS      | $221788.35    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiptree Inc                     | Tiptree Inc                                       | CUSIP: 88822Q103<br>LEI: 254900EH52HA4YXENT37 | Long             | EC               | CORP              | US        |      8602 | NS      | $157158.54    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co               | Tractor Supply Co                                 | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |      2139 | NS      | $106971.39    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc       | United Parcel Service Inc                         | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2583 | NS      | $256207.77    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Short-Term Treasury E  | Vanguard Short-Term Treasury ETF                  | CUSIP: 92206C102<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2101 | NS      | $123391.73    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Long-Term Treasury ET  | Vanguard Long-Term Treasury                       | CUSIP: 92206C847<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2428 | NS      | $135482.40    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Victory Capital Holdings Inc    | Victory Capital Holdings Inc                      | CUSIP: 92645B103<br>LEI: 549300BN5LH2CIPPHS71 | Long             | EC               | CORP              | US        |      1172 | NS      | $73941.48     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VictoryShares Short-Term Bond   | VictoryShares Short-Term Bond                     | CUSIP: 92647N535<br>LEI: 549300I98QP59UGN5H87 | Long             | EC               | RF                | US        |      1816 | NS      | $92325.44     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Seix Senior Loan ETF     | Virtus Seix Senior Loan ETF                       | CUSIP: 92790A405<br>LEI: 5493002FXOZ36VHY8T45 | Long             | EC               | RF                | US        |     13691 | NS      | $319616.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc             | Virtu Financial Inc                               | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |     12563 | NS      | $418599.16    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                      | Watsco Inc                                        | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |       706 | NS      | $237886.70    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Weis Markets Inc                | Weis Markets Inc                                  | CUSIP: 948849104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3248 | NS      | $208164.32    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc             | Williams-Sonoma Inc                               | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      1818 | NS      | $324676.62    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                    | Winmark Corp                                      | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       706 | NS      | $285887.64    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Equity Premium Inco  | WisdomTree Equity Premium Income                  | CUSIP: 97717X560<br>LEI: 549300YBII3KW6EABE35 | Long             | EC               | RF                | US        |     34568 | NS      | $1141435.36   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                | TotalEnergies SE                                  | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      1880 | NS      | $122989.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Caledonia Mining Corp PLC       | Caledonia Mining Corp PLC                         | CUSIP: G1757E113<br>LEI: 21380093ZBI4BFM75Y51 | Long             | EC               | CORP              | JE        |     47531 | NS      | $1243886.27   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Water Co Ltd       | Consolidated Water Co Ltd                         | CUSIP: G23773107<br>LEI: 5299001BMEW8X9VIJA73 | Long             | EC               | CORP              | KY        |     13099 | NS      | $462263.71    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                  | Eaton Corp PLC                                    | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       245 | NS      | $78034.95     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LNG Ltd                    | FLEX LNG Ltd                                      | CUSIP: G35947202<br>LEI: 21380084THHU3MPC3647 | Long             | EC               | CORP              | BM        |     62186 | NS      | $1551540.70   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV    | LyondellBasell Industries NV                      | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |      6077 | NS      | $263134.10    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DHT Holdings Inc                | DHT Holdings Inc                                  | CUSIP: Y2065G121<br>LEI: 549300SMD6IVZYT74K40 | Long             | EC               | CORP              | MH        |     72960 | NS      | $890841.60    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| International Seaways Inc       | International Seaways Inc                         | CUSIP: Y41053102<br>LEI: 549300YUFDGFRNGBWF46 | Long             | EC               | CORP              | MH        |     28909 | NS      | $1403531.95   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Scorpio Tankers Inc             | Scorpio Tankers Inc                               | CUSIP: Y7542C130<br>LEI: 549300NVJUH16NXG8K87 | Long             | EC               | CORP              | MH        |     10923 | NS      | $555216.09    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Elevation Series Trust

**Signature:** Nick Austin

**Name of Signer:** Nick Austin

**Title:** Treasurer