# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-25-160155
**Filing Date:** 2025-6
**Character Count:** 57476
**Document Hash:** 2ee5a68b89705a4c1cd9349d4bbfc917
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-160155.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-160155

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**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:** 251080096

**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 U.S. Multifactor ETF (Series ID: S000068350)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000218700 | Fidelity U.S. Multifactor ETF | FLRG            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® U.S. Multifactor ETF**

**April 30, 2025**

USM-NPRT3-0625

1.9898258.104 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.8%** | &nbsp;&nbsp;**Common Stocks - 99.8%** | &nbsp;&nbsp;**Common Stocks - 99.8%** |
|  | Shares | Value ($)<br>|
| IRELAND - 0.5%  |  |  |
| Information Technology - 0.5% |  |  |
| IT Services - 0.5% |  |  |
| Accenture PLC Class A  | 3782 | 1131385 |
| UNITED STATES - 99.3%  |  |  |
| Communication Services - 8.8% |  |  |
| Diversified Telecommunication Services - 1.0% |  |  |
| AT&T Inc  | 38515 | 1066866 |
| Verizon Communications Inc  | 22909 | 1009370 |
|  |  | 2076236 |
| Entertainment - 1.3% |  |  |
| Electronic Arts Inc  | 2983 | 432803 |
| Netflix Inc (b) | 1911 | 2162717 |
|  |  | 2595520 |
| Interactive Media & Services - 5.6% |  |  |
| Alphabet Inc Class A  | 42516 | 6751541 |
| Meta Platforms Inc Class A  | 8782 | 4821318 |
|  |  | 11572859 |
| Media - 0.5% |  |  |
| Comcast Corp Class A  | 22468 | 768406 |
| Fox Corp Class A  | 6364 | 316863 |
|  |  | 1085269 |
| Wireless Telecommunication Services - 0.4% |  |  |
| T-Mobile US Inc  | 2959 | 730725 |
| TOTAL COMMUNICATION SERVICES |  | 18060609 |
| Consumer Discretionary - 11.5% |  |  |
| Diversified Consumer Services - 3.5% |  |  |
| Frontdoor Inc (b) | 31844 | 1309106 |
| Grand Canyon Education Inc (b) | 10413 | 1857367 |
| H&R Block Inc  | 35460 | 2140720 |
| Stride Inc (b) | 13230 | 1881968 |
|  |  | 7189161 |
| Hotels, Restaurants & Leisure - 2.7% |  |  |
| Booking Holdings Inc  | 508 | 2590434 |
| McDonald's Corp  | 9080 | 2902422 |
|  |  | 5492856 |
| Household Durables - 0.9% |  |  |
| PulteGroup Inc  | 18350 | 1882343 |
| Specialty Retail - 4.4% |  |  |
| AutoZone Inc (b) | 607 | 2283898 |
| Home Depot Inc/The  | 8395 | 3026314 |
| O'Reilly Automotive Inc (b) | 1634 | 2312437 |
| Williams-Sonoma Inc  | 9457 | 1460823 |
|  |  | 9083472 |
| TOTAL CONSUMER DISCRETIONARY |  | 23647832 |
| Consumer Staples - 6.0% |  |  |
| Household Products - 3.4% |  |  |
| Colgate-Palmolive Co  | 22469 | 2071417 |
| Kimberly-Clark Corp  | 14150 | 1864687 |
| Procter & Gamble Co/The  | 19064 | 3099235 |
|  |  | 7035339 |
| Tobacco - 2.6% |  |  |
| Altria Group Inc  | 38366 | 2269349 |
| Philip Morris International Inc  | 17603 | 3016450 |
|  |  | 5285799 |
| TOTAL CONSUMER STAPLES |  | 12321138 |
| Energy - 3.0% |  |  |
| Oil, Gas & Consumable Fuels - 3.0% |  |  |
| Chord Energy Corp  | 21115 | 1905206 |
| Coterra Energy Inc  | 86256 | 2118447 |
| DT Midstream Inc  | 22808 | 2216938 |
|  |  | 6240591 |
| Financials - 14.7% |  |  |
| Banks - 0.6% |  |  |
| Zions Bancorp NA  | 30632 | 1377520 |
| Capital Markets - 1.5% |  |  |
| Ameriprise Financial Inc  | 3569 | 1681071 |
| Interactive Brokers Group Inc Class A  | 7865 | 1351600 |
|  |  | 3032671 |
| Consumer Finance - 1.5% |  |  |
| Discover Financial Services  | 9584 | 1750709 |
| Synchrony Financial  | 27007 | 1403014 |
|  |  | 3153723 |
| Financial Services - 5.3% |  |  |
| Essent Group Ltd  | 29829 | 1698165 |
| Mastercard Inc Class A  | 6219 | 3408385 |
| MGIC Investment Corp  | 69121 | 1721804 |
| Visa Inc Class A  | 11611 | 4011601 |
|  |  | 10839955 |
| Insurance - 5.8% |  |  |
| Arch Capital Group Ltd  | 19854 | 1800361 |
| Hartford Insurance Group Inc/The  | 16281 | 1997190 |
| Progressive Corp/The  | 9129 | 2572005 |
| Reinsurance Group of America Inc  | 8511 | 1594195 |
| The Travelers Companies, Inc.  | 7896 | 2085571 |
| Unum Group  | 23017 | 1787500 |
|  |  | 11836822 |
| TOTAL FINANCIALS |  | 30240691 |
| Health Care - 11.1% |  |  |
| Biotechnology - 4.0% |  |  |
| AbbVie Inc  | 15224 | 2970203 |
| Gilead Sciences Inc  | 21493 | 2289864 |
| Regeneron Pharmaceuticals Inc  | 2663 | 1594498 |
| United Therapeutics Corp (b) | 4781 | 1449073 |
|  |  | 8303638 |
| Health Care Providers & Services - 1.8% |  |  |
| Centene Corp (b) | 29139 | 1743968 |
| Molina Healthcare Inc (b) | 5863 | 1917260 |
|  |  | 3661228 |
| Pharmaceuticals - 5.3% |  |  |
| Corcept Therapeutics Inc (b)(c) | 23923 | 1719585 |
| Eli Lilly & Co  | 4863 | 4371595 |
| Johnson & Johnson  | 19755 | 3087904 |
| Royalty Pharma PLC Class A  | 51981 | 1706016 |
|  |  | 10885100 |
| TOTAL HEALTH CARE |  | 22849966 |
| Industrials - 9.2% |  |  |
| Aerospace & Defense - 1.3% |  |  |
| Lockheed Martin Corp  | 5426 | 2592271 |
| Construction & Engineering - 0.9% |  |  |
| EMCOR Group Inc  | 4615 | 1849230 |
| Machinery - 3.6% |  |  |
| Allison Transmission Holdings Inc  | 18036 | 1663641 |
| Mueller Industries Inc  | 25975 | 1910721 |
| PACCAR Inc  | 21357 | 1926615 |
| Snap-on Inc  | 6258 | 1963823 |
|  |  | 7464800 |
| Professional Services - 3.4% |  |  |
| Automatic Data Processing Inc  | 8272 | 2486564 |
| Paychex Inc  | 15204 | 2236812 |
| Verisk Analytics Inc  | 7523 | 2230043 |
|  |  | 6953419 |
| TOTAL INDUSTRIALS |  | 18859720 |
| Information Technology - 28.1% |  |  |
| Communications Equipment - 1.6% |  |  |
| Arista Networks Inc  | 8458 | 695840 |
| Cisco Systems Inc  | 23875 | 1378304 |
| F5 Inc (b) | 1951 | 516507 |
| Motorola Solutions Inc  | 1747 | 769361 |
|  |  | 3360012 |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Sanmina Corp (b) | 6347 | 487386 |
| IT Services - 1.7% |  |  |
| Akamai Technologies Inc (b) | 5886 | 474293 |
| Amdocs Ltd  | 6601 | 584717 |
| Cognizant Technology Solutions Corp Class A  | 8045 | 591871 |
| GoDaddy Inc Class A (b) | 3048 | 574030 |
| IBM Corporation  | 5664 | 1369668 |
|  |  | 3594579 |
| Semiconductors & Semiconductor Equipment - 7.7% |  |  |
| Broadcom Inc  | 20371 | 3920806 |
| NVIDIA Corp  | 98712 | 10751711 |
| QUALCOMM Inc  | 7437 | 1104097 |
|  |  | 15776614 |
| Software - 10.2% |  |  |
| ACI Worldwide Inc (b) | 10403 | 555104 |
| Adobe Inc (b) | 2920 | 1094942 |
| Dolby Laboratories Inc Class A  | 6535 | 501823 |
| Dropbox Inc Class A (b) | 17400 | 496770 |
| Fair Isaac Corp (b) | 379 | 754089 |
| Fortinet Inc (b) | 7371 | 764815 |
| Gen Digital Inc  | 21271 | 550281 |
| InterDigital Inc (c) | 2689 | 540489 |
| Microsoft Corp  | 29974 | 11847523 |
| Oracle Corp  | 9233 | 1299268 |
| Qualys Inc (b) | 4041 | 507994 |
| Servicenow Inc (b) | 1319 | 1259658 |
| Zoom Communications Inc Class A (b) | 7164 | 555497 |
|  |  | 20728253 |
| Technology Hardware, Storage & Peripherals - 6.7% |  |  |
| Apple Inc  | 60642 | 12886425 |
| Hewlett Packard Enterprise Co  | 29866 | 484427 |
| HP Inc  | 20146 | 515133 |
|  |  | 13885985 |
| TOTAL INFORMATION TECHNOLOGY |  | 57832829 |
| Materials - 2.1% |  |  |
| Chemicals - 1.1% |  |  |
| CF Industries Holdings Inc  | 29012 | 2273671 |
| Containers & Packaging - 1.0% |  |  |
| Packaging Corp of America  | 11674 | 2166811 |
| TOTAL MATERIALS |  | 4440482 |
| Real Estate - 2.6% |  |  |
| Health Care REITs - 0.8% |  |  |
| Omega Healthcare Investors Inc  | 43189 | 1686530 |
| Specialized REITs - 1.8% |  |  |
| Public Storage Operating Co  | 5889 | 1769232 |
| VICI Properties Inc  | 57148 | 1829880 |
|  |  | 3599112 |
| TOTAL REAL ESTATE |  | 5285642 |
| Utilities - 2.2% |  |  |
| Gas Utilities - 1.2% |  |  |
| National Fuel Gas Co  | 32377 | 2485906 |
| Independent Power and Renewable Electricity Producers - 1.0% |  |  |
| Vistra Corp  | 15109 | 1958580 |
| TOTAL UTILITIES |  | 4444486 |
| TOTAL UNITED STATES |  | 204223986 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $197,484,435) |  | <br> **205355371** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.0%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.0%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.0%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.0%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 5/29/2025 (f)<br>(Cost $13,954)<br>| 4.25 | 14000 | **13954** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** | &nbsp;&nbsp;**Money Market Funds - 0.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 4.33 | 263622 | 263675 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 4.33 | 511824 | 511875 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $775,550) |  |  | **775550** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.2%**<br> (Cost $198,273,939)<br>| <br>**206144875** |
| **NET OTHER ASSETS (LIABILITIES) - (0.2)%** (d)  | **(357937)** |
| **NET ASSETS - 100.0%** | **205786938** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &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 ($)<br>| Value ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| Purchased |  |  |  |  |  |
| Equity Contracts |  |  |  |  |  |
| CME Micro E-Mini S&P 500 Index Contracts (United States) | 15 | Jun 2025 | 419025 | 1504 | 1504 |
| The notional amount of futures purchased as a percentage of Net Assets is 0.2% | The notional amount of futures purchased as a percentage of Net Assets is 0.2% | The notional amount of futures purchased as a percentage of Net Assets is 0.2% | The notional amount of futures purchased as a percentage of Net Assets is 0.2% | The notional amount of futures purchased as a percentage of Net Assets is 0.2% | The notional amount of futures purchased as a percentage of Net Assets is 0.2% |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing

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

(d) Includes $24,175 of cash collateral to cover margin requirements for futures contracts.

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $13,954.

(g) 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.

(h) 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 $1,763,519.

**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 | 186494 | 10526220 | 10449039 | 7293 | - | - | 263675 | 263622 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | - | 4590985 | 4079110 | 76 | - | - | 511875 | 511824 | 0.0% |
| Total | 186494 | 15117205 | 14528149 | 7369 | - | - | 775550 |  |  |

---

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.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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 U.S. Multifactor ETF

- **b. EDGAR series identifier (if any):** S000068350

- **c. LEI of Series:** 549300OJH3DC1NMJI291

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $205910446.99

**Total Liabilities:** $123540.60

**Net Assets:** $205786906.39

**Cash Not Reported:** $44703.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000218700 | -1.32%               | -4.05%               | -0.66%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4675813.16              | $-8502465.46                               |
| Month 2  | $-87358.88               | $-8703016.92                               |
| Month 3  | $10.26                   | $-1176819.57                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ESSENT GROUP LTD                    | ESSENT GROUP LTD                              | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | BM        |     29829 | NS      | $1698164.97   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD              | ARCH CAPITAL GROUP LTD                        | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |     19854 | NS      | $1800360.72   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                          | UNUM GROUP                                    | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     23017 | NS      | $1787500.22   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER and GAMBLE CO               | PROCTER and GAMBLE CO                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     19064 | NS      | $3099234.48   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GODADDY INC                         | GODADDY INC CL A                              | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      3048 | NS      | $574029.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AT and T INC                        | AT and T INC                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     38515 | NS      | $1066865.50   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORP DEL        | UNITED THERAPEUTICS CORP DEL                  | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      4781 | NS      | $1449073.29   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                          | ABBVIE INC                                    | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     15224 | NS      | $2970202.40   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCH INC         | SP500 MIC EMIN FUTJUN25 HWAM5                 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |        15 | NC      | $1503.68      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                           | APPLE INC                                     | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     60642 | NS      | $12886425.00  | 6.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                     | FOX CORP CL A                                 | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      6364 | NS      | $316863.56    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DROPBOX INC                         | DROPBOX INC CL A                              | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     17400 | NS      | $496770.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                     | T-MOBILE US INC                               | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      2959 | NS      | $730725.05    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                      | MICROSOFT CORP                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     29974 | NS      | $11847523.24  | 5.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW INC                      | SERVICENOW INC                                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      1319 | NS      | $1259658.19   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP OHIO               | PROGRESSIVE CORP OHIO                         | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      9129 | NS      | $2572004.46   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                       | ACCENTURE PLC CL A                            | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |      3782 | NS      | $1131385.30   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                            | VISA INC CL A                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     11611 | NS      | $4011600.50   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                           | ADOBE INC                                     | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2920 | NS      | $1094941.60   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                        | AUTOZONE INC                                  | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       607 | NS      | $2283898.20   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP                 | KIMBERLY CLARK CORP                           | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |     14150 | NS      | $1864687.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC       | REGENERON PHARMACEUTICALS INC                 | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      2663 | NS      | $1594497.88   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC                  | META PLATFORMS INC CL A                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      8782 | NS      | $4821318.00   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORP                   | CHORD ENERGY CORP                             | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     21115 | NS      | $1905206.45   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| H and R BLOCK INC                   | BLOCK H and R INC                             | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     35460 | NS      | $2140720.20   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                          | PACCAR INC                                    | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     21357 | NS      | $1926614.97   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLBY LABORATORIES INC              | DOLBY LABORATORIES INC CL A                   | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |      6535 | NS      | $501822.65    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC                 | ELECTRONIC ARTS INC                           | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      2983 | NS      | $432803.47    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIONS BANCORPORATION NA             | ZIONS BANCORP                                 | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     30632 | NS      | $1377521.04   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                      | PUBLIC STORAGE                                | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      5889 | NS      | $1769232.27   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING INC       | AUTOMATIC DATA PROCESSING INC                 | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      8272 | NS      | $2486563.20   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                         | ORACLE CORP                                   | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      9233 | NS      | $1299267.76   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                  | ROYALTY PHARMA PLC                            | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |     51981 | NS      | $1706016.42   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC/THE    | HARTFORD INSURANCE GROUP INC/THE              | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     16281 | NS      | $1997190.27   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                      | HOME DEPOT INC                                | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      8395 | NS      | $3026313.55   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAND CANYON EDUCATION INC          | GRAND CANYON EDUCATION INC                    | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     10413 | NS      | $1857366.81   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| STRIDE INC                          | STRIDE INC                                    | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     13230 | NS      | $1881967.50   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| F5 INC                              | F5 INC                                        | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      1951 | NS      | $516507.74    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO                | COLGATE-PALMOLIVE CO                          | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     22469 | NS      | $2071417.11   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GROUP OF AMERICA INC    | REINSURANCE GROUP OF AMERICA                  | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |      8511 | NS      | $1594195.41   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SANMINA CORP                        | SANMINA CORP                                  | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |      6347 | NS      | $487386.13    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| VICI PPTYS INC                      | VICI PPTYS INC                                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     57148 | NS      | $1829878.96   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALYS INC                          | QUALYS INC                                    | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      4041 | NS      | $507994.11    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC                | THE BOOKING HOLDINGS INC                      | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       508 | NS      | $2590434.24   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER INDUSTRIES INC              | MUELLER INDUSTRIES INC                        | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     25975 | NS      | $1910721.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ACI WORLDWIDE INC                   | ACI WORLDWIDE INC                             | CUSIP: 004498101<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | EC               | CORP              | US        |     10403 | NS      | $555104.08    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| OREILLY AUTOMOTIVE INC              | O'REILLY AUTOMOTIVE INC                       | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      1634 | NS      | $2312436.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTE GROUP INC                     | PULTEGROUP INC                                | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18350 | NS      | $1882343.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE CO       | HEWLETT PACKARD ENTERPRISE CO                 | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     29866 | NS      | $484426.52    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY and CO                    | ELI LILLY and CO                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      4863 | NS      | $4371593.85   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC                | VERISK ANALYTICS INC                          | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      7523 | NS      | $2230042.89   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET INC                        | FORTINET INC                                  | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      7371 | NS      | $764814.96    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP INC                     | EMCOR GROUP INC                               | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      4615 | NS      | $1849230.50   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                 | SYNCHRONY FINANCIAL                           | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     27007 | NS      | $1403013.65   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                        | BROADCOM INC                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     20371 | NS      | $3920806.37   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS INC          | CF INDUSTRIES HOLDINGS INC                    | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     29012 | NS      | $2273670.44   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL FUEL GAS CO NJ             | NATIONAL FUEL GAS CO NJ                       | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     32377 | NS      | $2485906.06   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                        | QUALCOMM INC                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      7437 | NS      | $1104097.02   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP                        | COMCAST CORP CL A                             | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     22468 | NS      | $768405.60    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAP-ON TOOLS CORP                  | SNAP-ON INCORPORATED                          | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      6258 | NS      | $1963822.98   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTDOOR INC                       | FRONTDOOR INC                                 | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     31844 | NS      | $1309106.84   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC          | VERIZON COMMUNICATIONS INC                    | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     22909 | NS      | $1009370.54   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC     | PHILIP MORRIS INTL INC                        | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     17603 | NS      | $3016450.08   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INVESTMENT CORP                | MGIC INVESTMENT CORP                          | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     69121 | NS      | $1721804.11   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust        | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    263622 | NS      | $263675.21    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORP                | LOCKHEED MARTIN CORP                          | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      5426 | NS      | $2592271.50   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| COTERRA ENERGY INC                  | COTERRA ENERGY INC                            | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     86256 | NS      | $2118447.36   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLINA HEALTHCARE INC               | MOLINA HEALTHCARE INC                         | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |      5863 | NS      | $1917259.63   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS-SONOMA INC                 | WILLIAMS-SONOMA INC                           | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      9457 | NS      | $1460822.79   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDONALDS CORP                      | MCDONALDS CORP                                | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      9080 | NS      | $2902422.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PACKAGING CORP OF AMERICA           | PACKAGING CORP OF AMERICA                     | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     11674 | NS      | $2166811.14   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS INC                 | ARISTA NETWORKS INC                           | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      8458 | NS      | $695839.66    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UST BILLS                           | UST BILLS 0% 05/29/2025                       | CUSIP: 912797NN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     14000 | PA      | $13954.05     | 0.01%             | 2025-05-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| HP INC                              | HP INC                                        | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |     20146 | NS      | $515133.22    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                         | NETFLIX INC                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1911 | NS      | $2162716.92   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVELERS COS INC                   | TRAVELERS COMPANIES INC                       | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      7896 | NS      | $2085570.48   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM CORPORATION                     | INTL BUS MACH CORP                            | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5664 | NS      | $1369668.48   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLISON TRANSMISSION HLDGS INC      | ALLISON TRANSMISSION HLDGS INC                | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     18036 | NS      | $1663640.64   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC              | MOTOROLA SOLUTIONS INC                        | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      1747 | NS      | $769361.33    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CORCEPT THERAPEUTICS INC            | CORCEPT THERAPEUTICS INC                      | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |     23923 | NS      | $1719585.24   | 0.84%             |  |  |  | No            |                  1 | On Loan: —       |
| Fidelity Revere Street Trust        | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |     98990 | NS      | $99000.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVER FINANCIAL SVS              | DISCOVER FIN SVCS                             | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |      9584 | NS      | $1750709.28   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION              | FAIR ISAAC CORP                               | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       379 | NS      | $754088.72    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                         | NVIDIA CORP                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     98712 | NS      | $10751711.04  | 5.22%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                    | INTERDIGITAL INC                              | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2689 | NS      | $540489.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTENE CORP DEL                    | CENTENE CORP                                  | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |     29139 | NS      | $1743969.15   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                      | MASTERCARD INC CL A                           | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      6219 | NS      | $3408385.14   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOOM COMMUNICATIONS INC             | ZOOM COMMUNICATIONS INC CL A                  | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |      7164 | NS      | $555496.56    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                         | PAYCHEX INC                                   | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     15204 | NS      | $2236812.48   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| OMEGA HEALTHCARE INVESTORS INC      | OMEGA HEALTHCARE INVESTORS INC                | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     43189 | NS      | $1686530.45   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                 | GILEAD SCIENCES INC                           | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     21493 | NS      | $2289864.22   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTRIA GROUP INC                    | ALTRIA GROUP INC                              | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     38366 | NS      | $2269348.90   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC                     | GEN DIGITAL INC                               | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |     21271 | NS      | $550280.77    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AMDOCS LIMITED                      | AMDOCS LTD                                    | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | GG        |      6601 | NS      | $584716.58    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON and JOHNSON                 | JOHNSON and JOHNSON                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     19755 | NS      | $3087904.05   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS INC                   | CISCO SYSTEMS INC                             | CUSIP: 17275R102<br>LEI: 8E6NF1YAL0WT6CWXXV93 | Long             | EC               | CORP              | US        |     23875 | NS      | $1378303.75   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                         | VISTRA CORP                                   | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     15109 | NS      | $1958579.67   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINL INC                 | AMERIPRISE FINANCIAL INC                      | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      3569 | NS      | $1681070.38   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNIZANT TECHNOLOGY SOLUTIONS CORP | COGNIZANT TECH SOLUTIONS CL A                 | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      8045 | NS      | $591870.65    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                        | ALPHABET INC CL A                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     42516 | NS      | $6751540.80   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERACTIVE BROKERS GROUP INC       | INTERACTIVE BROKERS GROUP INC                 | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      7865 | NS      | $1351600.25   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES INC             | AKAMAI TECHNOLOGIES INC                       | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      5886 | NS      | $474293.88    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DT MIDSTREAM INC                    | DT MIDSTREAM INC                              | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22808 | NS      | $2216937.60   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer