# EDGAR Filing Document

**Accession Number:** 0001396092
**File Stem:** 0001396092-26-000166
**Filing Date:** 2026-3
**Character Count:** 26311
**Document Hash:** da0bc69790b92918739fd694216ef976
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001396092-26-000166.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001396092-26-000166

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** World Funds Trust
- **CENTRAL INDEX KEY:** 0001396092

**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:** 811-22172
- **FILM NUMBER:** 26706472

**BUSINESS ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-267-7400

**MAIL ADDRESS:**
- **STREET 1:** 8730 STONY POINT PARKWAY
- **STREET 2:** SUITE 205
- **CITY:** RICHMOND
- **STATE:** VA
- **ZIP:** 23235

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Abacus World Funds Trust
- **DATE OF NAME CHANGE:** 20070410

## Series and Classes Contracts Data

### Philotimo Focused Growth and Income Fund (Series ID: S000071684)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000227130 | Philotimo Focused Growth and Income Fund | PHLOX           |

## Nport-Ex

**PHILOTIMO FOCUSED GROWTH & INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **72.32%** | **COMMON STOCKS** |  |  |
| **2.68%** | **COMMUNICATION SERVICES** |  |  |
|  | Marchex, Inc.<sup>(A)</sup> | 1249399 | $2074003 |
|  | WildBrain Ltd.<sup>(A)</sup> | 58225 | 75692 |
|  | WildBrain Ltd.<sup>(A)</sup> | 851550 | 1098134 |
|  |  |  | 3247829 |

---

---

| | | | |
|:---|:---|:---|:---|
| **14.69%** | **CONSUMER DISCRETIONARY - ENTERTAINMENT** |  |  |
|  | 1stdibs.com, Inc.<sup>(A)</sup> | 355377 | 2128708 |
|  | Ainsworth Game Technology Ltd.<sup>(A)</sup> | 409 | 276 |
|  | AMMO, Inc.<sup>(A)</sup> | 4000000 | 6840000 |
|  | Fossil Group, Inc.<sup>(A)</sup> | 505461 | 1900534 |
|  | Inspired Entertainment, Inc.<sup>(A)</sup> | 700000 | 6552000 |
|  | Xponential Fitness, Inc.<sup>(A)</sup> | 46732 | 384605 |
|  |  |  | 17806123 |
| **17.37%** | **CONSUMER DISCRETIONARY - RETAIL** |  |  |
|  | Barnes¬& Noble Education, Inc.<sup>(A)</sup> | 750428 | 6896433 |
|  | CDON AB<sup>(A)</sup> | 536715 | 3672736 |
|  | Haverty Furniture Cos., Inc. | 281 | 6564 |
|  | Natuzzi S.p.A<sup>(A)</sup> | 406962 | 960430 |
|  | The One Group Hospitality, Inc.<sup>(A)</sup> | 393975 | 689456 |
|  | The RealReal, Inc.<sup>(A)</sup> | 558853 | 8818700 |
|  |  |  | 21044319 |
| **3.09%** | **FINANCIALS** |  |  |
|  | EZCorp, Inc. Class A<sup>(A)</sup> | 150000 | 2913000 |
|  | U.S. Global Investors, Inc. | 343092 | 826852 |
|  |  |  | 3739852 |
| **6.26%** | **HEALTH CARE** |  |  |
|  | Novo Nordisk A/S ADR | 75000 | 3816000 |
|  | The Oncology Institute, Inc.<sup>(A)</sup> | 1059882 | 3773180 |
|  |  |  | 7589180 |
| **2.32%** | **INDUSTRIALS** |  |  |
|  | Trex Co., Inc.<sup>(A)</sup> | 80000 | 2806400 |

---

**PHILOTIMO FOCUSED GROWTH & INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

**SharesValue**

**17.18% INFORMATION TECHNOLOGY**

Allot Ltd.<sup>(A)</sup>

Data I/O Corp.<sup>(A)</sup>

eGain Corp.<sup>(A)</sup>

Immersion Corporation

Sylogist Ltd.

**8.73% REAL ESTATE**

Compass, Inc.<sup>(A)</sup>

**72.32% TOTAL COMMON STOCKS**

(Cost: $65,939,344)

**0.58% PREFERRED STOCKS**

**0.58% CONSUMER DISCRETIONARY AMMO, Inc. 8.75%**

**0.58% TOTAL PREFERRED STOCKS**

(Cost: $647,751)

**9.49% CLOSED-END MUTUAL FUNDS**

Eaton Vance Limited Duration Income Fund^<sup>(A)</sup>

(US Treasury Yield Curve Rate Constant Maturity 5 Year +3.010%) . Nuveen Floating Rate Income Fund<sup>(A)</sup>

Nuveen Real Estate Income Fund<sup>(A)</sup>

Duff & Phelps Utility and Infrastructure Fund, Inc.<sup>(A)</sup>

**9.49% TOTAL CLOSED-END MUTUAL FUNDS**

(Cost: $11,617,204)

---

| | |
|:---|:---|
| 1200000 | $11796000 |
| 327401 | 1037861 |
| 395349 | 4068141 |
| 296979 | 2019457 |
| 450727 | 1894791 |
|  | 20816250 |
| 1000351 | 10573710 |
|  | 87623663 |

---

29,427706,247

706,247

229, 2252,271,620

509, 9193,992,666

316, 5002,424,390

221, 5642,816,078

11,504,754

**PHILOTIMO FOCUSED GROWTH & INCOME FUND**

**Schedule of Investments**

**December 31, 2025 (unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Principle** | &nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| **10.04%** | **DEBT SECURITIES** |  |  |
| **1.72%** | **CONSUMER DISCRETIONARY** |  |  |
|  | Fossil Group, Inc. 01/01/2029 9.500% | 2256119 | 2081270 |
| **7.02%** | **FINANCIALS** |  |  |
|  | Allstate Corp. 05/15/2057 6.500% | 1000000 | 1050617 |
|  | Bank of Montreal 11/26/2084 7.300%^ | 1000000 | 1066212 |
|  | &nbsp;&nbsp;&nbsp;(US Treasury Yield Curve Rate Constant Maturity 10 Year +2.757%) |  |  |
|  | Citigroup Global Markets 01/22/2035 0.000%<sup>(A)(C)</sup> | 300000 | 282990 |
|  | Citigroup Global Markets 10/01/2040 7.250% | 84000 | 68787 |
|  | Citigroup Global Markets 03/19/2041 10.500% | 120000 | 110784 |
|  | Citigroup Global Markets Holdings, Inc. 09/20/2041 0.000% | 80000 | 72040 |
|  | Citigroup Global Markets Holdings, Inc. 09/03/2041 0.000% | 400000 | 356500 |
|  | Citigroup, Inc. Series DD Perpetual 7.000% | 1350000 | 1423802 |
|  | Morgan Stanley 03/31/2035 0.000% | 95000 | 63650 |
|  | Nationwide Financial Services 05/15/2037 6.750% | 2975000 | 2959804 |
|  | Prudential Financial, Inc. 03/15/2054 6.500% | 1000000 | 1056930 |
|  |  |  | 8512116 |
| **1.30%** | **GOVERNMENT** |  |  |
|  | Farm Credit Bank of Texas Perpetual 7.750%^ | 1500000 | 1570119 |
|  | &nbsp;&nbsp;&nbsp;(US Treasury Yield Curve Rate Constant Maturity 5 Year +4.017%) . |  |  |
| **10.04%** | **TOTAL DEBT SECURITIES** |  | 12163505 |
|  | (Cost: $11,282,767) |  |  |
| **7.89%** | **MONEY MARKET FUND** |  |  |
|  | Federated Government Obligations Fund 3.670%<sup>(B)</sup> | 9558724 | 9558724 |
|  | (Cost: $9,558,724) |  |  |
| **100.32%** | **TOTAL INVESTMENTS** |  | 121556893 |
|  | (Cost: $99,045,790) |  |  |
| **(0.32%)** | Liabilities in excess of other assets |  | (387987) |
| **100.00%** | **NET ASSETS** |  | $**121168906** |

---

^Rate is determined periodically. Rate shown is the rate as of December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(A)</sup>Non-income producing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(B)</sup>Effective 7 day yield as of December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)Structured Note

ADR - Security represented is held by the custodian in the form of American Depositary Receipts.

**See Notes to Schedule of Investments.**

In accordance with U.S. GAAP, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in in determining the value of a Fund's investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prces in active markets for identical securities.

Level 2 includes other significant observable inputs (including quoted prices for similar securities, interet rates, prepayment speeds, credit, risk, etc.). Level 3 includes significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following summarizes the inputs used to value the Fund's investments as of December 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Level 2 | &nbsp;&nbsp;Level 3 |  |
|  |  | &nbsp;&nbsp;&nbsp;Other<br>Significant<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Observable Inputs | &nbsp;&nbsp;&nbsp;&nbsp;Significant<br>&nbsp;&nbsp;&nbsp;&nbsp;Unobservable<br>Inputs | <br>Total |
| COMMON STOCKS | $87623663 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $87623663 |
| PREFERRED STOCKS | 706247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | - | 706247 |
| CLOSED-END FUNDS | - | &nbsp;&nbsp;&nbsp;11504754 | - | 11504754 |
| DEBT SECURITIES | - | &nbsp;&nbsp;&nbsp;12163505 | - | 12163505 |
| MONEY MARKET FUND | 9558724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | - | 9558724 |
| TOTAL INVESTMENTS | $97888634 | $&nbsp;&nbsp;&nbsp;23668259 | $- | $121556893 |

---

The cost of investments for Federal income tax purposes has been estimated a/o December 31, 2025 since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $99,045,790, and the related net unrealized appreciation (depreciation) consists of:

---

| | |
|:---|:---|
| Gross unrealized appreciation | $28094590 |
| Gross unrealized depreciation | (5583487) |
| &nbsp;&nbsp;Net unrealized appreciation | $22511103 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** World Funds Trust

- **b. Investment Company Act file number:** 811-22172

- **c. CIK number of Registrant:** 0001396092

- **d. LEI of Registrant:** 5493007BOSPYEMKSSY03

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

  - **Street Address 1:** 8730 Stony Point Parkway

  - **City:** Richmond

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 23235

  - **Telephone number:** 800-673-0550

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

- **a. Name of Series:** Philotimo Focused Growth & Income

- **b. EDGAR series identifier (if any):** S000071684

- **c. LEI of Series:** 5493003CD8K6JW8BZH38

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

- **a. Date of fiscal year-end:** 2026-03-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $121307109.90

**Total Liabilities:** $138203.66

**Net Assets:** $121168906.24

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00 | **1-Year:** 0.00 | **5-Year:** -548.54 | **10-Year:** -1904.94 | **30-Year:** 0.00

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00 | **1-Year:** 0.00 | **5-Year:** 0.00 | **10-Year:** -2428.56 | **30-Year:** -1404.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227130 | 1.28%                | 3.38%                | 1.73%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5926088.22             | $7418110.02                                |
| Month 2  | $8418060.99              | $-4686211.97                               |
| Month 3  | $-137049.81              | $2132791.81                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IMMERSION CORP     | Immersion Corp                           | CUSIP: 452521107<br>LEI: N/A | Long             | EC               | CORP              | US        |    296979 | NS      | $2019457.20   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP INC-A       | EZCorp, Inc. Class A                     | CUSIP: 302301106<br>LEI: N/A | Long             | EC               | CORP              | US        |    150000 | NS      | $2913000.00   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DATA I/O CORP      | Data I/O Corp.                           | CUSIP: 237690102<br>LEI: N/A | Long             | EC               | CORP              | US        |    327401 | NS      | $1037861.17   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Federated Government Obligations Fund    | CUSIP: 60934N104<br>LEI: N/A | Long             | STIV             | RF                | US        |   9558724 | NS      | $9558724.01   | 7.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | eGain Corp.                              | CUSIP: 28225C806<br>LEI: N/A | Long             | EC               | CORP              | US        |    395349 | NS      | $4068141.21   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Natuzzi S.p.A                            | CUSIP: 63905A200<br>LEI: N/A | Long             | EC               | CORP              | US        |    406962 | NS      | $960430.32    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | The One Group Hospitality, Inc.          | CUSIP: 88338K103<br>LEI: N/A | Long             | EC               | CORP              | US        |    393975 | NS      | $689456.25    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Citigroup Global Markets                 | CUSIP: 17328YRF3<br>LEI: N/A | Long             | DBT              | CORP              | US        |    120000 | PA      | $110784.00    | 0.09%             | 2041-03-19      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Default            | Morgan Stanley                           | CUSIP: 61760QFV1<br>LEI: N/A | Long             | DBT              | CORP              | US        |     95000 | PA      | $63650.00     | 0.05%             | 2035-03-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Default            | CDON                                     | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | SE        |    536715 | NS      | $3672736.11   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | AINSWORTH GAME TECHNOLOGY LT             | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | AU        |       409 | NS      | $275.68       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | COMPASS INC                              | CUSIP: 20464U100<br>LEI: N/A | Long             | EC               | CORP              | US        |   1000351 | NS      | $10573710.07  | 8.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | U.S. GLOBAL INVESTORS INC-A              | CUSIP: 902952100<br>LEI: N/A | Long             | EC               | CORP              | US        |    343092 | NS      | $826851.72    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Inspired Entertainment, Inc.             | CUSIP: 45782N108<br>LEI: N/A | Long             | EC               | CORP              | US        |    700000 | NS      | $6552000.00   | 5.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Citigroup Global Markets                 | CUSIP: 17328WRC4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     84000 | PA      | $68787.60     | 0.06%             | 2040-10-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Default            | Citigroup Global Markets                 | CUSIP: 17327TC95<br>LEI: N/A | Long             | DBT              | CORP              | US        |    300000 | PA      | $282990.00    | 0.23%             | 2035-01-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Default            | Allstate Corp.                           | CUSIP: 020002AU5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1050617.00   | 0.87%             | 2057-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Default            | Nationwide Financial Services            | CUSIP: 638612AJ0<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2959803.70   | 2.44%             | 2087-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| The RealReal, Inc. | The RealReal, Inc.                       | CUSIP: 88339P101<br>LEI: N/A | Long             | EC               | CORP              | US        |    558853 | NS      | $8818700.34   | 7.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | PRUDENTIAL FINANCIAL INC 03/11/2024 VAR  | CUSIP: 744320BP6<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1056930.00   | 0.87%             | 2054-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Default            | Farm Credit Bank of Texas 05/23/2024     | CUSIP: 30767EAE9<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1570119.00   | 1.30%             | 2064-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Default            | Barnes & Noble Education Inc             | CUSIP: 06777U200<br>LEI: N/A | Long             | EC               | CORP              | US        |    750428 | NS      | $6896433.32   | 5.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | CITIGROUP INC PERP 07/30/2024            | CUSIP: 172967PM7<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1423801.80   | 1.18%             | 2172-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Default            | Bank of Montreal 11/26/34 7.3%           | CUSIP: 06368L5Q5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1066212.00   | 0.88%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Default            | Eaton Vance Limited Duration Income Fund | CUSIP: 27828H105<br>LEI: N/A | Long             | EC               | CORP              | US        |    229225 | NS      | $2271619.75   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | HAVERTY FURNITURE INC                    | CUSIP: 419596101<br>LEI: N/A | Long             | EC               | CORP              | US        |       281 | NS      | $6564.16      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | ALLOT LTD                                | CUSIP: M0854Q105<br>LEI: N/A | Long             | EC               | CORP              | IL        |   1200000 | NS      | $11796000.00  | 9.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Duff & Phelps Utility and Infrastructure | CUSIP: 26433C105<br>LEI: N/A | Long             | EC               | CORP              | US        |    221564 | NS      | $2816078.44   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Marchex Inc - Class B                    | CUSIP: 56624R108<br>LEI: N/A | Long             | EC               | CORP              | US        |   1249399 | NS      | $2074002.34   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Wildbrain LTD                            | CUSIP: 96810C200<br>LEI: N/A | Long             | EC               | CORP              | US        |     58225 | NS      | $75692.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Outdoor Holding Co.                      | CUSIP: 00175J107<br>LEI: N/A | Long             | EC               | CORP              | US        |   4000000 | NS      | $6840000.00   | 5.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | Outdoor Holding Co. Pfd Series A         | CUSIP: 00175J206<br>LEI: N/A | Long             | EP               | CORP              | US        |     29427 | NS      | $706248.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | The Oncology Institute Inc               | CUSIP: 68236X100<br>LEI: N/A | Long             | EC               | CORP              | US        |   1059882 | NS      | $3773179.92   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | CITIGROUP GLOBAL MARKETS                 | CUSIP: 17329QUK4<br>LEI: N/A | Long             | DBT              | CORP              | US        |     80000 | PA      | $72040.00     | 0.06%             | 2041-09-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Default            | SYLOGIST LTD                             | CUSIP: 87132P102<br>LEI: N/A | Long             | EC               | CORP              | CA        |    450727 | NS      | $1894790.56   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | NUVEEN FLOATING RATE INCOME              | CUSIP: 67072T108<br>LEI: N/A | Long             | EC               | RF                | US        |    509919 | NS      | $3992665.77   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | NUVEEN REAL ESTATE INCOME                | CUSIP: 67071B108<br>LEI: N/A | Long             | EC               | RF                | US        |    316500 | NS      | $2424390.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | C Float 09/03/2041                       | CUSIP: 17329QB41<br>LEI: N/A | Long             | DBT              | CORP              | US        |    400000 | PA      | $356500.00    | 0.29%             | 2041-09-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Default            | Fossil Group Inc.                        | CUSIP: 34988V106<br>LEI: N/A | Long             | EC               | CORP              | US        |    505461 | NS      | $1900533.36   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | 1STDIBS.COM INC                          | CUSIP: 320551104<br>LEI: N/A | Long             | EC               | CORP              | US        |    355377 | NS      | $2128708.23   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | FOSSIL GROUP INC 10/10/25 9.500 01/01/29 | CUSIP: 34988VAE6<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2256119 | PA      | $2081269.77   | 1.72%             | 2029-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Default            | TREX COMPANY INC                         | CUSIP: 89531P105<br>LEI: N/A | Long             | EC               | CORP              | US        |     80000 | NS      | $2806400.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | XPONENTIAL FITNESS INC-A                 | CUSIP: 98422X101<br>LEI: N/A | Long             | EC               | CORP              | US        |     46732 | NS      | $384604.36    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Default            | WILDBRAIN LTD                            | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | CA        |    851550 | NS      | $1098133.76   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO-NORDISK-ADR   | Novo Nordisk A/S                         | CUSIP: 670100205<br>LEI: N/A | Long             | EC               | CORP              | DK        |     75000 | NS      | $3816000.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** World Funds Trust

**Signature:** Ann MacDonald

**Name of Signer:** Ann MacDonald

**Title:** Principal Financial Officer