# EDGAR Filing Document

**Accession Number:** 0002013853
**File Stem:** 0001752724-25-211602
**Filing Date:** 2025-8
**Character Count:** 54084
**Document Hash:** f8f4f190a65e637c9fc1e183f5e9983f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211602.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211602

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Age Alpha Funds Trust
- **CENTRAL INDEX KEY:** 0002013853

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23945
- **FILM NUMBER:** 251272050

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

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

## Series and Classes Contracts Data

### NAA SMid Cap Value Fund (Series ID: S000087631)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000253493 | Institutional Class |  |
| C000253494 | Class C             |  |
| C000253495 | Class A             |  |
| C000253496 | Class P             |  |

## Nport-Ex

---

| |
|:---|
| **NAA SMID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.3%** |  |
|  | **Communications - 3.2%** |  |
| 52090 | Maplebear, Inc.<sup>(a)</sup> | $2356552 |
| 49892 | Match Group, Inc. <sup>(a)</sup> | 1541164 |
| 16779 | Nexstar Media Group, Inc. | 2901928 |
| 40027 | Omnicom Group, Inc. | 2879542 |
|  |  | 9679186 |
|  | **Consumer Discretionary - 8.9%** |  |
| 58675 | Advance Auto Parts, Inc. | 2727801 |
| 38735 | Autoliv, Inc. | 4334447 |
| 12574 | Darden Restaurants, Inc. | 2740755 |
| 51548 | Etsy, Inc.<sup>(a)</sup> | 2585648 |
| 68214 | Harley-Davidson, Inc. | 1609850 |
| 31994 | Lear Corporation | 3038790 |
| 13119 | Lululemon Athletica, Inc.<sup>(a)</sup> | 3116811 |
| 39572 | MGM Resorts International<sup>(a)</sup> | 1360881 |
| 70040 | Mister Car Wash, Inc.<sup>(a)</sup> | 420940 |
| 10590 | Penske Automotive Group, Inc. | 1819468 |
| 23527 | Shoe Carnival, Inc. | 440190 |
| 18332 | Sonic Automotive, Inc., Class A | 1465277 |
| 30538 | Yeti Holdings, Inc.<sup>(a)</sup> | 962558 |
|  |  | 26623416 |
|  | **Consumer Staples - 5.5%** |  |
| 39711 | BellRing Brands, Inc.<sup>(a)</sup> | 2300458 |
| 36674 | Dollar Tree, Inc.<sup>(a)</sup> | 3632193 |
| 31641 | Five Below, Inc.<sup>(a)</sup> | 4150667 |
| 132469 | Grocery Outlet Holding Corporation<sup>(a)</sup> | 1645265 |
| 16959 | MGP Ingredients, Inc. | 508261 |
| 11218 | Post Holdings, Inc.<sup>(a)</sup> | 1223099 |
| 28012 | PriceSmart, Inc. | 2942380 |
|  |  | 16402323 |
|  | **Energy - 5.4%** |  |
| 31507 | Chord Energy Corporation | 3051453 |
| 45588 | ConocoPhillips | 4091068 |
| 11219 | First Solar, Inc.<sup>(a)</sup> | 1857193 |
| 49896 | Innovex International, Inc.<sup>(a)</sup> | 779376 |

---

---

| |
|:---|
| **NAA SMID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.3% (Continued)** |  |
|  | **Energy - 5.4% (Continued)** |  |
| 208326 | Nov, Inc. COM<sup>(a)</sup> | $2589491 |
| 434441 | Patterson-UTI Energy, Inc. | 2576235 |
| 21718 | Weatherford International plc | 1092633 |
|  |  | 16037449 |
|  | **Financials - 18.7%** |  |
| 50506 | Air Lease Corporation | 2954096 |
| 23263 | American Financial Group, Inc. | 2936023 |
| 45187 | Ameris Bancorp | 2923599 |
| 169049 | Apollo Commercial Real Estate Finance, Inc. | 1636394 |
| 62525 | Bank OZK | 2942427 |
| 58171 | CNO Financial Group, Inc. | 2244237 |
| 8338 | Everest Group Ltd. | 2833669 |
| 69788 | EZCORP, Inc., Class A<sup>(a)</sup> | 968657 |
| 218982 | First Horizon Corporation | 4642419 |
| 213356 | FNB Corporation | 3110730 |
| 130118 | Fulton Financial Corporation | 2347329 |
| 21102 | Hanover Insurance Group, Inc. (The) | 3584597 |
| 16080 | Lakeland Financial Corporation | 988116 |
| 40419 | NBT Bancorp, Inc. | 1679409 |
| 24555 | OFG Bancorp | 1050954 |
| 13285 | Raymond James Financial, Inc. | 2037520 |
| 21823 | Reinsurance Group of America, Inc. | 4328811 |
| 34845 | Selective Insurance Group, Inc. | 3019319 |
| 16968 | Stifel Financial Corporation<sup>(a)</sup> | 1760939 |
| 26341 | StoneX Group, Inc.<sup>(a)</sup> | 2400719 |
| 54515 | Unum Group | 4402632 |
| 16202 | Westamerica BanCorporation | 784825 |
|  |  | 55577421 |
|  | **Health Care - 7.6%** |  |
| 141965 | AdaptHealth Corporation<sup>(a)</sup> | 1338730 |
| 9127 | Addus HomeCare Corporation<sup>(a)</sup> | 1051339 |
| 77405 | BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | 4254953 |
| 25852 | Cardinal Health, Inc. | 4343136 |
| 45500 | DexCom, Inc.<sup>(a)</sup> | 3971695 |

---

---

| |
|:---|
| **NAA SMID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.3% (Continued)** |  |
|  | **Health Care - 7.6% (Continued)** |  |
| 16692 | Encompass Health Corporation | $2046940 |
| 109452 | Premier, Inc., Class A | 2400282 |
| 19398 | Tenet Healthcare Corporation<sup>(a)</sup> | 3414048 |
|  |  | 22821123 |
|  | **Industrials - 14.6%** |  |
| 42579 | AAR Corporation<sup>(a)</sup> | 2929009 |
| 64708 | ABM Industries, Inc. | 3054865 |
| 27262 | Alarm.com Holdings, Inc.<sup>(a)</sup> | 1542211 |
| 19851 | Albany International Corporation, Class A | 1392151 |
| 76002 | Avista Corporation | 2884276 |
| 19109 | FTI Consulting, Inc.<sup>(a)</sup> | 3086105 |
| 101723 | Gates Industrial Corp PLC<sup>(a)</sup> | 2342681 |
| 12623 | Heidrick & Struggles International, Inc. | 577628 |
| 13172 | ITT, Inc. | 2065765 |
| 23372 | Jacobs Solutions, Inc. | 3072249 |
| 25790 | MSC Industrial Direct Company, Inc., Class A | 2192666 |
| 72546 | NEXTracker, Inc., Class A<sup>(a)</sup> | 3944326 |
| 8514 | Novanta, Inc.<sup>(a)</sup> | 1097710 |
| 37528 | Oshkosh Corporation | 4260929 |
| 135895 | Resideo Technologies, Inc. | 2997844 |
| 23282 | Rollins, Inc. | 1313570 |
| 10997 | UniFirst Corporation | 2069855 |
| 98400 | WillScot Holdings Corporation<sup>(a)</sup> | 2696160 |
|  |  | 43520000 |
|  | **Information Technology - 0.3%** |  |
| 48543 | Photronics, Inc.<sup>(a)</sup> | 914065 |
|  | **Materials - 9.0%** |  |
| 150647 | Alcoa Corporation | 4445593 |
| 18137 | AptarGroup, Inc. | 2837171 |
| 60926 | Axalta Coating Systems Ltd.<sup>(a)</sup> | 1808893 |
| 16426 | Ecolab, Inc. | 4425822 |
| 133384 | Element Solutions, Inc. | 3021148 |
| 202098 | O-I Glass, Inc. | 2978924 |

---

---

| |
|:---|
| **NAA SMID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.3% (Continued)** |  |
|  | **Materials - 9.0% (Continued)** |  |
| 34297 | RPM International, Inc. | $3767182 |
| 109153 | SunCoke Energy, Inc. <sup>(a)</sup> | 937624 |
| 10021 | Vulcan Materials Company | 2613677 |
|  |  | 26836034 |
|  | **Real Estate - 11.4%** |  |
| 36874 | Agree Realty Corporation | 2694014 |
| 25117 | American Assets Trust, Inc. | 496061 |
| 114376 | American Homes 4 Rent, Class A | 4125542 |
| 95404 | CareTrust REIT, Inc. | 2919362 |
| 61522 | CubeSmart | 2614685 |
| 43498 | EPR Properties | 2534193 |
| 54880 | Equity LifeStyle Properties, Inc. | 3384450 |
| 60466 | Four Corners Property Trust, Inc. | 1627140 |
| 38353 | Getty Realty Corporation | 1060077 |
| 12789 | Jones Lang LaSalle, Inc.<sup>(a)</sup> | 3271170 |
| 100109 | NNN REIT, Inc. | 4322707 |
| 116498 | Rexford Industrial Realty, Inc. | 4143834 |
| 59947 | SITE Centers Corporation<sup>(a)</sup> | 678001 |
|  |  | 33871236 |
|  | **Technology - 6.0%** |  |
| 13072 | Broadridge Financial Solutions, Inc. | 3176889 |
| 4842 | CACI International, Inc., Class A<sup>(a)</sup> | 2308181 |
| 32002 | Ciena Corporation<sup>(a)</sup> | 2602723 |
| 17848 | CSG Systems International, Inc. | 1165653 |
| 20528 | Digi International, Inc.<sup>(a)</sup> | 715606 |
| 80890 | DoubleVerify Holdings, Inc.<sup>(a)</sup> | 1210923 |
| 10758 | Euronet Worldwide, Inc.<sup>(a)</sup> | 1090646 |
| 30016 | EVERTEC, Inc. | 1082077 |
| 45404 | LiveRamp Holdings, Inc.<sup>(a)</sup> | 1500148 |
| 33347 | MAXIMUS, Inc. | 2340959 |
| 100961 | Sprinklr, Inc., Class A<sup>(a)</sup> | 854130 |
|  |  | 18047935 |
|  | **Utilities - 6.7%** |  |
| 61806 | California Water Service Group | 2810937 |

---

---

| |
|:---|
| **NAA SMID CAP VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 97.3% (Continued)** |  |
|  | **Utilities - 6.7% (Continued)** |  |
| 45537 | Evergy, Inc. | $3138865 |
| 100829 | FirstEnergy Corporation | 4059376 |
| 97374 | OGE Energy Corporation | 4321458 |
| 16895 | Ormat Technologies, Inc. | 1415125 |
| 23522 | Pinnacle West Capital Corporation | 2104513 |
| 41375 | SJW Group | 2150259 |
|  |  | 20000533 |
|  | **TOTAL COMMON STOCKS (Cost $283,871,905)** | 290330721 |
|  | **EXCHANGE-TRADED FUNDS — 2.0%** |  |
|  | **Equity - 2.0%** |  |
| 22836 | iShares Russell Mid-Cap Value ETF | 3017549 |
| 15436 | Vanguard Small-Cap Value ETF | 3010174 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $5,883,247)** | 6027723 |
|  | **TOTAL INVESTMENTS - 99.3% (Cost $289,755,152)** | $296358444 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 0.7%** | 2054506 |
|  | **NET ASSETS - 100.0%** | $298412950 |

---

---

| | |
|:---|:---|
| <sup>(a)</sup> | Non-income producing security. |
| PLC – Public Limited Company | PLC – Public Limited Company |
| REIT – Real Estate Investment Trust | REIT – Real Estate Investment Trust |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-23945

- **c. CIK number of Registrant:** 0002013853

- **d. LEI of Registrant:** 529900860B9CQ8SDNS27

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

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

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580

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

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

- **a. Name of Series:** NAA SMID CAP VALUE FUND

- **b. EDGAR series identifier (if any):** S000087631

- **c. LEI of Series:** 529900TVW1UO9UWGD856

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

- **a. Date of fiscal year-end:** 2025-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $299015797.45

**Total Liabilities:** $602847.73

**Net Assets:** $298412949.72

**Cash Not Reported:** $3193.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253494 | -3.45%               | 4.33%                | 2.32%                |
| Class ID C000253495 | -3.37%               | 4.41%                | 2.39%                |
| Class ID C000253493 | -3.43%               | 4.43%                | 2.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-365826.44              | $-10102841.24                              |
| Month 2  | $-42136.40               | $12391947.57                               |
| Month 3  | $-6530819.04             | $13050958.09                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| RPM International Inc.                      | RPM International, Inc.                     | CUSIP: 749685103<br>LEI: 549300TJCKW4BRXPJ474 | Long             | EC               | CORP              | US        |     34297 | NS      | $3767182.48   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                  | Evergy, Inc.                                | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     45537 | NS      | $3138865.41   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide, Inc.                     | Euronet Worldwide, Inc.                     | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     10758 | NS      | $1090646.04   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                              | Five Below, Inc.                            | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     31641 | NS      | $4150666.38   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc.               | MSC Industrial Direct Company, Inc. Class A | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |     25790 | NS      | $2192665.80   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Premier Inc                                 | Premier, Inc. Class A                       | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109452 | NS      | $2400282.36   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NOV Inc.                                    | Nov, Inc. COM                               | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |    208326 | NS      | $2589492.18   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                               | ISHARES RUSSELL MIDCAP VALUE                | CUSIP: 464287473<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     22836 | NS      | $3017549.04   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc.                       | Jacobs Solutions, Inc.                      | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23372 | NS      | $3072249.40   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc.                          | Post Holdings, Inc.                         | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     11218 | NS      | $1223098.54   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc.                   | Patterson-UTI Energy, Inc.                  | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |    434441 | NS      | $2576235.13   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| F N B Corp (Pennsylvania)                   | F.N.B. Corporation                          | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |    213356 | NS      | $3110730.48   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SunCoke Energy, Inc.                        | SunCoke Energy, Inc.                        | CUSIP: 86722A103<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | EC               | CORP              | US        |    109153 | NS      | $937624.27    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Everest Group Ltd                           | Everest Group Ltd.                          | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | US        |      8338 | NS      | $2833669.30   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corporation                            | Lear Corporation                            | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     31994 | NS      | $3038790.12   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Financial Corp.                    | Lakeland Financial Corporation              | CUSIP: 511656100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16080 | NS      | $988116.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Lifestyle Properties Inc             | Equity LifeStyle Properties, Inc. REIT      | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     54880 | NS      | $3384449.60   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.                | Raymond James Financial, Inc.               | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     13285 | NS      | $2037520.45   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG Bancorp                                 | OFG Bancorp                                 | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               | CORP              | US        |     24555 | NS      | $1050954.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Caretrust Reit Inc                          | CareTrust REIT, Inc. REIT                   | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     95404 | NS      | $2919362.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                 | Pinnacle West Capital Corporation           | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |     23522 | NS      | $2104513.34   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc.                  | American Assets Trust, Inc. REIT            | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25117 | NS      | $496060.75    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| First Horizon Corporation                   | First Horizon National Corporation          | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |    218982 | NS      | $4642418.40   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextracker Inc.                             | Nextracker Inc - Class A                    | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72546 | NS      | $3944326.02   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Reinsurance Group of America, Incorporated  | Reinsurance Group of America, Inc.          | CUSIP: 759351604<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EC               | CORP              | US        |     21823 | NS      | $4328810.28   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NBT Bancorp Inc                             | NBT Bancorp, Inc.                           | CUSIP: 628778102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40419 | NS      | $1679409.45   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc.                        | MGP Ingredients, Inc.                       | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |     16959 | NS      | $508261.23    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Liveramp Holdings Inc                       | LiveRamp Holdings, Inc.                     | CUSIP: 53815P108<br>LEI: 254900GXS75LG1X7RF88 | Long             | EC               | CORP              | US        |     45404 | NS      | $1500148.16   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                       | Element Solutions, Inc.                     | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    133384 | NS      | $3021147.60   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corporation                       | Air Lease Corporation                       | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |     50506 | NS      | $2954095.94   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                                 | H2O America                                 | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41375 | NS      | $2150258.75   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                 | Novanta, Inc.                               | CUSIP: 67000B104<br>LEI: 549300NBPHPTUPTS8070 | Long             | EC               | CORP              | US        |      8514 | NS      | $1097710.02   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc.                             | Photronics, Inc.                            | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     48543 | NS      | $914064.69    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprinklr Inc                                | Sprinklr, Inc.                              | CUSIP: 85208T107<br>LEI: 254900AR04RJ2BQO5S78 | Long             | EC               | CORP              | US        |    100961 | NS      | $854130.06    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                           | Yeti Holdings, Inc.                         | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |     30538 | NS      | $962557.76    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc.                     | Digi International, Inc.                    | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     20528 | NS      | $715606.08    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc.              | Selective Insurance Group, Inc.             | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |     34845 | NS      | $3019319.25   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp.                  | Albany International Corporation Class A    | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |     19851 | NS      | $1392150.63   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CSG Systems International Inc.              | CSG Systems International, Inc.             | CUSIP: 126349109<br>LEI: 549300D7FJZUOHHXUA81 | Long             | EC               | CORP              | US        |     17848 | NS      | $1165652.88   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies Inc                    | Resideo Technologies Inc.                   | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |    135895 | NS      | $2997843.70   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                              | ConocoPhillips                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     45588 | NS      | $4091067.12   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pricesmart Inc                              | PriceSmart, Inc.                            | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |     28012 | NS      | $2942380.48   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc               | Weatherford International PLC               | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | US        |     21718 | NS      | $1092632.58   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                                    | Etsy, Inc.                                  | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |     51548 | NS      | $2585647.68   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Grocery Outlet Holding Corp.                | Grocery Outlet Holding Corp                 | CUSIP: 39874R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132469 | NS      | $1645264.98   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc.         | BellRing Brands, Inc.                       | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     39711 | NS      | $2300458.23   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                       | Harley-Davidson, Inc.                       | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               | CORP              | US        |     68214 | NS      | $1609850.40   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc.            | Four Corners Property Trust, Inc.           | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     60466 | NS      | $1627140.06   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                            | StoneX Group, Inc.                          | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     26341 | NS      | $2400718.74   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Rollins Inc                                 | Rollins, Inc.                               | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               | CORP              | US        |     23282 | NS      | $1313570.44   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                     | ITT, Inc.                                   | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     13172 | NS      | $2065764.76   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonic Automotive, Inc.                      | Sonic Automotive, Inc.                      | CUSIP: 83545G102<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | EC               | CORP              | US        |     18332 | NS      | $1465276.76   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                | BioMarin Pharmaceutical, Inc.               | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     77405 | NS      | $4254952.85   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                           | FirstEnergy Corporation                     | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |    100829 | NS      | $4059375.54   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                       | American Homes 4 Rent Class A               | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    114376 | NS      | $4125542.32   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Unum Group                                  | Unum Group                                  | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |     54515 | NS      | $4402631.40   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank OZK Little Rock Arkansas               | Bank OZK                                    | CUSIP: 06417N103<br>LEI: 549300VYK2WBD7SST478 | Long             | EC               | CORP              | US        |     62525 | NS      | $2942426.50   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.         | Broadridge Financial Solutions, Inc.        | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     13072 | NS      | $3176888.16   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc.                     | Ormat Technologies, Inc.                    | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     16895 | NS      | $1415125.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Westamerica Bancorp                         | Westamerica BanCorporation                  | CUSIP: 957090103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16202 | NS      | $784824.88    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Funds                        | Vanguard Small-Cap Value ETF                | CUSIP: 922908611<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     15436 | NS      | $3010174.36   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corporation                           | Alcoa Corporation                           | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    150647 | NS      | $4445592.97   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                 | MAXIMUS, Inc.                               | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     33347 | NS      | $2340959.40   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp.                                   | AAR Corporation                             | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     42579 | NS      | $2929009.41   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc.                                 | Ecolab, Inc.                                | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |     16426 | NS      | $4425821.44   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                   | GATES INDUSTRIAL CORP PLC                   | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |    101723 | NS      | $2342680.69   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                              | Maplebear Incorporated                      | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52090 | NS      | $2356551.60   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                             | First Solar, Inc.                           | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     11219 | NS      | $1857193.26   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                           | Getty Realty Corporation                    | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     38353 | NS      | $1060076.92   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company                    | Vulcan Materials Company                    | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     10021 | NS      | $2613677.22   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                             | Match Group, Inc.                           | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |     49892 | NS      | $1541163.88   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                           | Agree Realty Corporation                    | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |     36874 | NS      | $2694014.44   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Penske Automotive Group, Inc.               | Penske Automotive Group, Inc.               | CUSIP: 70959W103<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | EC               | CORP              | US        |     10590 | NS      | $1819467.90   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart (Maryland)                        | CubeSmart REIT                              | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61522 | NS      | $2614685.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Autoliv Inc.                                | Autoliv, Inc.                               | CUSIP: 052800109<br>LEI: A23RUXWKASG834LTMK28 | Long             | EC               | CORP              | SE        |     38735 | NS      | $4334446.50   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                           | Shoe Carnival, Inc.                         | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23527 | NS      | $440190.17    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc.                         | ABM Industries, Inc.                        | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     64708 | NS      | $3054864.68   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles International Inc      | Heidrick & Struggles International, Inc.    | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |     12623 | NS      | $577628.48    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corporation               | WillScott Mobile Mini Holding               | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     98400 | NS      | $2696160.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                    | Darden Restaurants, Inc.                    | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |     12574 | NS      | $2740754.78   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                   | CNO Financial Group, Inc.                   | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     58171 | NS      | $2244237.18   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                               | O-I Glass, Inc.                             | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    202098 | NS      | $2978924.52   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mister Car Wash Inc                         | Mister Car Wash, Inc.                       | CUSIP: 60646V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70040 | NS      | $420940.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group              | California Water Service Group              | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |     61806 | NS      | $2810936.88   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc.              | Rexford Industrial Realty, Inc.             | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    116498 | NS      | $4143833.86   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc. | Apollo Commercial Real Estate Finance, Inc. | CUSIP: 03762U105<br>LEI: 549300E0AN7M2AQHSY29 | Long             | EC               | CORP              | US        |    169049 | NS      | $1636394.32   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc.                     | Alarm.com Holdings, Inc.                    | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |     27262 | NS      | $1542211.34   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AdaptHealth Corporation                     | Adapthealth Corp.                           | CUSIP: 00653Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    141965 | NS      | $1338729.95   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                   | MGM Resorts International                   | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |     39572 | NS      | $1360881.08   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameris Bancorp                              | Ameris Bancorp                              | CUSIP: 03076K108<br>LEI: PBJHNT51T5V6G5UQFV42 | Long             | EC               | CORP              | US        |     45187 | NS      | $2923598.90   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptargroup Inc.                             | AptarGroup, Inc.                            | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     18137 | NS      | $2837170.91   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corporation                           | Ciena Corporation                           | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     32002 | NS      | $2602722.66   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                     | CACI International, Inc.                    | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |      4842 | NS      | $2308181.40   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation                | Stifel Financial Corporation                | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |     16968 | NS      | $1760939.04   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Oshkosh Corporation                         | Oshkosh Corporation                         | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |     37528 | NS      | $4260929.12   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.                    | Lululemon Athletica, Inc.                   | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |     13119 | NS      | $3116812.02   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Evertec Inc                                 | EVERTEC, Inc.                               | CUSIP: 30040P103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30016 | NS      | $1082076.80   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus Homecare Corp                         | Addus HomeCare Corporation                  | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      9127 | NS      | $1051339.13   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                             | Dollar Tree, Inc.                           | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     36674 | NS      | $3632192.96   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Incorporated             | Jones Lang LaSalle, Inc.                    | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     12789 | NS      | $3271170.42   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | BBH Overnight Sweep                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   1809808 | PA      | $1809807.94   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Site Centers Corp                           | SITE CTRS CORP COM                          | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |     59947 | NS      | $678000.57    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Fulton Financial Corporation                | Fulton Financial Corporation                | CUSIP: 360271100<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EC               | CORP              | US        |    130118 | NS      | $2347328.72   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting, Inc.                        | FTI Consulting, Inc.                        | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     19109 | NS      | $3086103.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corporation                | Encompass Health Corporation                | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     16692 | NS      | $2046939.96   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc.                                 | EZCORP, Inc. Class A                        | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |     69788 | NS      | $968657.44    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                | National Retail Properties, Inc. REIT       | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    100109 | NS      | $4322706.62   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp.                          | Chord Energy Corporation                    | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     31507 | NS      | $3051452.95   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                              | EPR Properties REIT                         | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     43498 | NS      | $2534193.48   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                  | DexCom, Inc.                                | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     45500 | NS      | $3971695.00   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Limited              | Axalta Coating Systems Ltd.                 | CUSIP: G0750C108<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     60926 | NS      | $1808892.94   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Auto Parts Inc.                     | Advance Auto Parts, Inc.                    | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |     58675 | NS      | $2727800.75   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc.                  | Innovex International, Inc.                 | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     49896 | NS      | $779375.52    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DoubleVerify Holdings Inc                   | DOUBLEVERIFY HOLDINGS INC COM               | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80890 | NS      | $1210923.30   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.              | American Financial Group, Inc.              | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |     23263 | NS      | $2936023.23   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corporation                | Tenet Healthcare Corporation                | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     19398 | NS      | $3414048.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health, Inc.                       | Cardinal Health, Inc.                       | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     25852 | NS      | $4343136.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hanover Insurance Group, Inc.           | Hanover Insurance Group, Inc. (The)         | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |     21102 | NS      | $3584596.74   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc                           | Omnicom Group, Inc.                         | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     40027 | NS      | $2879542.38   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                     | Nexstar Media Group, Inc.                   | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     16779 | NS      | $2901928.05   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Unifirst Corp                               | UniFirst Corporation                        | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |     10997 | NS      | $2069855.34   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corporation                      | OGE Energy Corporation                      | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     97374 | NS      | $4321458.12   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                          | Avista Corporation                          | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     76002 | NS      | $2884275.90   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Keith D. Kemp

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

**Title:** President