# EDGAR Filing Document

**Accession Number:** 0001936157
**File Stem:** 0001936157-26-000178
**Filing Date:** 2026-3
**Character Count:** 85130
**Document Hash:** e3383f863a3c7329b98b9d57f80f1562
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001936157-26-000178.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0001936157-26-000178

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23812
- **FILM NUMBER:** 26817286

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

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

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

## Series and Classes Contracts Data

### The Disciplined Growth Investors Fund (Series ID: S000093392)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000261609 | The Disciplined Growth Investors Fund | DGIFX           |

## Nport-Ex

**Disciplined Growth Investors Funds**

**The Disciplined Growth Investors Fund (DGIFX)** 

**The Disciplied Growth Investors Equity Fund (DGIQX)**

**Schedules of Investments** 

**January 31, 2026**

The Disciplined Growth Investors Fund

**SCHEDULE OF INVESTMENTS<br> January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 70.53%** |  |  |
| **Consumer Discretionary Products - 3.27%** |  |  |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | 463025 | $10654205 |
| &nbsp;&nbsp;&nbsp;LGI Homes, Inc.<sup>(a)</sup> | 59443 | 2978689 |
| &nbsp;&nbsp;&nbsp;SharkNinja, Inc.<sup>(a)</sup> | 47967 | 5669699 |
|  |  | 19302593 |
| **Consumer Staple Products - 1.38%** |  |  |
| &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc.<sup>(a)</sup> | 155256 | 8147835 |
| **Health Care - 2.78%** |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.<sup>(a)</sup> | 60366 | 9841469 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.<sup>(a)</sup> | 10623 | 5356329 |
| &nbsp;&nbsp;&nbsp;Progyny, Inc.<sup>(a)</sup> | 50185 | 1197916 |
|  |  | 16395714 |
| **Industrial Products - 9.36%** |  |  |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | 458510 | 17762677 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc.<sup>(a)</sup> | 62278 | 10465195 |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | 28318 | 2473011 |
| &nbsp;&nbsp;&nbsp;Proto Labs, Inc.<sup>(a)</sup> | 258069 | 13587333 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | 29989 | 10979273 |
|  |  | 55267489 |
| **Industrial Services - 2.37%** |  |  |
| Alarm.com Holdings, Inc.<sup>(a)</sup> | 286792 | 13989714 |
| **Materials - 1.21%** |  |  |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | 26206 | 4632697 |
| &nbsp;&nbsp;&nbsp;Trex Co, Inc.<sup>(a)</sup> | 60079 | 2488472 |
|  |  | 7121169 |
| **Media - 0.98%** |  |  |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.<sup>(a)</sup> | 26143 | 5759303 |
| **Oil & Gas - 6.98%** |  |  |
| &nbsp;&nbsp;&nbsp;Core Laboratories, Inc. | 379469 | 7414824 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | 621726 | 17936795 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | 141374 | 15891852 |
|  |  | 41243471 |
| **Retail & Wholesale - Discretionary - 2.15%** |  |  |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 110485 | 7287591 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Inc., Class A<sup>(a)</sup> | 1132674 | 5436835 |
|  |  | 12724426 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Software & Tech Services - 9.47%** |  |  |
| &nbsp;&nbsp;&nbsp;Akamai Technologies, Inc.<sup>(a)</sup> | 177791 | $17272396 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.<sup>(a)</sup> | 31616 | 7994738 |
| &nbsp;&nbsp;&nbsp;DoubleVerify Holdings, Inc.<sup>(a)</sup> | 203836 | 2205505 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.<sup>(a)</sup> | 36216 | 7591236 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | 5482 | 2735079 |
| &nbsp;&nbsp;&nbsp;Monday.com Ltd.<sup>(a)</sup> | 15021 | 1723660 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | 14733 | 1519414 |
| &nbsp;&nbsp;&nbsp;SPS Commerce, Inc.<sup>(a)</sup> | 65645 | 5859473 |
| &nbsp;&nbsp;&nbsp;Zeta Global Holdings Corp., Class A<sup>(a)</sup> | 486989 | 9048255 |
|  |  | 55949756 |
| **Tech Hardware & Semiconductors - 30.58%** |  |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.<sup>(a)</sup> | 187308 | 26549036 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Inc., Class A | 134675 | 8644788 |
| &nbsp;&nbsp;&nbsp;Garmin Ltd. | 102763 | 20721131 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | 33310 | 10873716 |
| &nbsp;&nbsp;&nbsp;IPG Photonics Corp.<sup>(a)</sup> | 52189 | 4822786 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | 132601 | 10067068 |
| &nbsp;&nbsp;&nbsp;Plexus Corp.<sup>(a)</sup> | 109025 | 21731953 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. | 163995 | 7533930 |
| &nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class A<sup>(a)</sup> | 379086 | 26361641 |
| &nbsp;&nbsp;&nbsp;Semtech Corp.<sup>(a)</sup> | 178155 | 14207861 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.<sup>(a)</sup> | 506545 | 14745525 |
| &nbsp;&nbsp;&nbsp;Viasat, Inc.<sup>(a)</sup> | 317838 | 14356743 |
|  |  | 180616178 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $314,462,455)** |  | 416517648 |

---

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **CORPORATE BONDS - 20.34%** |  |  |
| **Aerospace & Defense - 0.53%** |  |  |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc., 06/01/34, 5.350% | $1509000 | 1555558 |
| &nbsp;&nbsp;&nbsp;RTX Corp., 11/16/38, 4.450% | 1677000 | 1577378 |
|  |  | 3132936 |
| **Airlines - 0.22%** |  |  |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co., 11/16/27, 3.450% | 1315000 | 1300951 |
| **Banks - 0.47%** |  |  |
| &nbsp;&nbsp;&nbsp;US Bancorp, 07/30/29, 3.000% | 1782000 | 1718198 |
| &nbsp;&nbsp;&nbsp;Wachovia Corp., 08/01/26, 7.574%<sup>(b)</sup> | 1048000 | 1065865 |
|  |  | 2784063 |

---

See Notes to Schedules of Investments

The Disciplined Growth Investors Fund

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Chemicals - 0.27%** |  |  |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co., 11/01/29, 7.375% | $1442000 | $1589535 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc., 11/15/28, 4.725% | 14000 | 14271 |
|  |  | 1603806 |
| **Commercial Finance - 0.28%** |  |  |
| &nbsp;&nbsp;&nbsp;GATX Corp., 09/15/33, 5.450% | 1625000 | 1678168 |
| **Construction Materials Manufacturing - 0.26%** |  |  |
| &nbsp;&nbsp;&nbsp;CRH America Finance, Inc., 02/09/36, 5.000% | 1520000 | 1519192 |
| **Consumer Finance - 0.46%** |  |  |
| &nbsp;&nbsp;&nbsp;American Express Co., 05/03/27, 3.300% | 1243000 | 1236388 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp., 07/29/32, 2.359%<sup>(c)</sup> | 1700000 | 1487607 |
|  |  | 2723995 |
| **Consumer Products - 0.22%** |  |  |
| &nbsp;&nbsp;&nbsp;Clorox Co., 10/01/27, 3.100% | 1300000 | 1283748 |
| **Consumer Services - 0.22%** |  |  |
| &nbsp;&nbsp;&nbsp;Cintas Corp. No 2, 08/15/36, 6.150% | 1185000 | 1290008 |
| **Diversified Banks - 1.03%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America Corp., 11/25/27, 4.183% | 1636000 | 1638316 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc., 03/05/38, 6.875% | 1406000 | 1615230 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co., 12/15/26, 4.125% | 1329000 | 1332333 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada, 11/03/31, 4.305%<sup>(c)</sup> | 1500000 | 1494840 |
|  |  | 6080719 |
| **Electrical Equipment Manufacturing - 0.28%** |  |  |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc., 03/15/31, 2.300% | 1790000 | 1634064 |
| **Exploration & Production - 0.26%** |  |  |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp., 09/15/34, 5.200% | 1500000 | 1512974 |

---

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Financial Services - 0.27%** |  |  |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp., 05/08/32, 3.375%<sup>(c)</sup> | $1600000 | $1579529 |
| **Food & Beverage - 0.50%** |  |  |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp., 06/03/28, 1.700% | 1400000 | 1334099 |
| &nbsp;&nbsp;&nbsp;Keurig Dr. Pepper, Inc., 03/15/34, 5.300% | 1623000 | 1652279 |
|  |  | 2986378 |
| **Health Care Facilities & Services - 0.56%** |  |  |
| &nbsp;&nbsp;&nbsp;CVS Health Corp., 08/15/29, 3.250% | 1738000 | 1679655 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc., 11/30/33, 6.400% | 1485000 | 1638357 |
|  |  | 3318012 |
| **Industrial Other - 0.41%** |  |  |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co., 12/21/28, 2.000% | 1700000 | 1616346 |
| &nbsp;&nbsp;&nbsp;Fluor Corp., 09/15/28, 4.250% | 805000 | 799796 |
|  |  | 2416142 |
| **Integrated Oils - 0.28%** |  |  |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc., 09/11/33, 4.893% | 1626000 | 1647990 |
| **Life Insurance - 0.21%** |  |  |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc., 11/15/26, 3.100% | 1262000 | 1254747 |
| **Mass Merchants - 0.28%** |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp., 04/20/30, 1.600% | 1820000 | 1651653 |
| **Medical Equipment & Devices Manufacturing - 0.55%** |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc., 03/12/31, 2.300% | 1920000 | 1741853 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc., 11/22/32, 5.905% | 1400000 | 1503462 |
|  |  | 3245315 |

---

See Notes to Schedules of Investments

The Disciplined Growth Investors Fund

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Pharmaceuticals - 0.46%** |  |  |
| &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC, 05/28/28, 1.750% | $1788000 | $1709035 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co., 11/15/26, 6.800% | 1000000 | 1020364 |
|  |  | 2729399 |
| **Pipelines - 2.06%** |  |  |
| &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC, 11/15/29, 3.000% | 1788000 | 1697635 |
| &nbsp;&nbsp;&nbsp;El Paso Natural Gas Co. LLC, 11/15/26, 7.500% | 1000000 | 1024138 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP, 04/15/29, 5.250% | 1583000 | 1628860 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC, 07/31/29, 3.125% | 1735000 | 1684161 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP, 01/15/38, 6.950% | 1400000 | 1589221 |
| &nbsp;&nbsp;&nbsp;MPLX LP, 08/15/30, 2.650% | 1834000 | 1700657 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc., 09/30/28, 6.875% | 1116000 | 1192565 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc., 03/15/34, 5.150% | 1632000 | 1654499 |
|  |  | 12171736 |
| **Railroad - 0.29%** |  |  |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp., 02/05/30, 2.400% | 1810000 | 1699219 |
| **Real Estate - 0.53%** |  |  |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP, 09/13/29, 2.450% | 1822000 | 1724453 |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC, 03/15/29, 4.125% | 1387000 | 1391382 |
|  |  | 3115835 |
| **Refining & Marketing - 0.56%** |  |  |
| &nbsp;&nbsp;&nbsp;Phillips 66, 12/15/30, 2.150% | 1925000 | 1737118 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp., 06/15/37, 6.625% | 1420000 | 1567151 |
|  |  | 3304269 |
| **Restaurants - 0.27%** |  |  |
| &nbsp;&nbsp;&nbsp;Starbucks Corp., 11/15/28, 4.000% | 1570000 | 1571274 |
| **Retail - Consumer Discretionary - 0.76%** |  |  |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc., 04/15/30, 3.900% | 1462000 | 1351917 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc., 06/03/30, 1.500% | 1700000 | 1531734 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc., 09/15/37, 6.650% | 1442000 | 1625840 |
|  |  | 4509491 |

---

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Transportation & Logistics - 0.56%** |  |  |
| &nbsp;&nbsp;&nbsp;FedEx Corp., 05/15/31, 2.400% | $1878000 | $1713418 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., 01/15/38, 6.200% | 1461000 | 1616933 |
|  |  | 3330351 |
| **Utilities - 6.24%** |  |  |
| &nbsp;&nbsp;&nbsp;Ameren Corp., 03/15/28, 1.750% | 12000 | 11440 |
| &nbsp;&nbsp;&nbsp;Ameren Corp., 03/15/35, 5.375% | 1530000 | 1567636 |
| &nbsp;&nbsp;&nbsp;Appalachian Power Co., 04/01/31, 2.700% | 1540000 | 1413800 |
| &nbsp;&nbsp;&nbsp;Arizona Public Service Co., 08/01/33, 5.550% | 1546000 | 1614166 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp., 10/15/29, 3.050% | 1799000 | 1723179 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc., 11/01/28, 4.250% | 1271000 | 1260066 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp., 08/15/27, 3.450% | 1374000 | 1363905 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co., 08/15/27, 2.950% | 1300000 | 1285410 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc., 06/15/38, 7.000% | 1336000 | 1510352 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co., 10/15/32, 6.350% | 1302000 | 1415935 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC, 06/01/37, 6.100% | 1439000 | 1547869 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC, 03/15/34, 5.350% | 1487000 | 1546278 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC, 12/15/30, 1.600% | 13000 | 11499 |
| &nbsp;&nbsp;&nbsp;Interstate Power and Light Co., 04/01/29, 3.600% | 1620000 | 1593732 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp., 06/15/31, 1.650% | 2012000 | 1751843 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co., 04/01/36, 6.650% | 1330000 | 1488915 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc., 04/01/29, 3.500% | 1399000 | 1375234 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc., 04/01/34, 5.350% | 1648000 | 1699306 |
| &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp., 08/15/37, 6.450% | 1020000 | 1131748 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc., 04/01/34, 5.450% | 1618000 | 1669648 |
| &nbsp;&nbsp;&nbsp;Puget Energy, Inc., 06/15/30, 4.100% | 1725000 | 1692626 |
| &nbsp;&nbsp;&nbsp;Southern Co., 07/01/36, 4.250% | 1579000 | 1477033 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Corp., 06/15/30, 2.200% | 1906000 | 1742040 |
| &nbsp;&nbsp;&nbsp;Toledo Edison Co., 05/15/37, 6.150% | 1391000 | 1513176 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc., 10/15/30, 1.800% | 1957000 | 1744187 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc., 12/01/29, 2.600% | 1815000 | 1714114 |
|  |  | 36865137 |
| **Waste & Environment Services & Equipment - 0.55%** |  |  |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc., 03/01/30, 2.300% | 1800000 | 1677963 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc., 07/15/28, 7.000% | 1446000 | 1548808 |
|  |  | 3226771 |

---

See Notes to Schedules of Investments

The Disciplined Growth Investors Fund

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Continued) (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Wireless Telecommunications Services - 0.50%** |  |  |
| &nbsp;&nbsp;&nbsp;AT&T, Inc., 03/01/29, 4.350% | $1621000 | $1632774 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc., 09/21/28, 4.329% | 1324000 | 1335573 |
|  |  | 2968347 |
| **TOTAL CORPORATE BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $119,259,472)** |  | 120136219 |

---

---

| | | |
|:---|:---|:---|
| **Description/Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **FOREIGN CORPORATE BONDS - 1.74%** |  |  |
| **Diversified Banks - 0.43%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia, 02/02/26, 4.750% | 1225000 | 1225000 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank, 06/03/26, 1.200% | 1340000 | 1328359 |
|  |  | 2553359 |
| **Exploration & Production - 0.28%** |  |  |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources Ltd., 06/30/33, 6.450% | 1507000 | 1636287 |
| **Metals & Mining - 0.26%** |  |  |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA Ltd., 09/08/33, 5.250% | 1490000 | 1542144 |
| **Pharmaceuticals - 0.26%** |  |  |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte Ltd., 05/19/28, 4.450% | 1540000 | 1556427 |
| **Pipelines - 0.51%** |  |  |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc., 03/08/33, 5.700% | 1571000 | 1647839 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines Ltd., 08/15/38, 7.250% | 1190000 | 1367063 |
|  |  | 3014902 |
| **TOTAL FOREIGN CORPORATE BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $10,194,664)** |  | 10303119 |

---

---

| | | |
|:---|:---|:---|
| **Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **U.S. TREASURY OBLIGATIONS - 6.61%** |  |  |
| **Treasury Bonds - 4.10%** |  |  |
| &nbsp;&nbsp;&nbsp;08/15/28, 2.875% | 5530000 | 5437437 |
| &nbsp;&nbsp;&nbsp;11/15/33, 4.500% | 4300000 | 4415394 |
| &nbsp;&nbsp;&nbsp;11/15/34, 4.250% | 14282500 | 14350286 |
|  |  | 24203117 |

---

---

| | | |
|:---|:---|:---|
| **Maturity Date/Rate** | **Principal<br> Amount** | **Value** |
| **Treasury Notes - 2.51%** |  |  |
| &nbsp;&nbsp;&nbsp;06/15/26, 4.125% | $3670000 | $3677542 |
| &nbsp;&nbsp;&nbsp;07/15/26, 4.500% | 5100000 | 5120062 |
| &nbsp;&nbsp;&nbsp;08/31/26, 3.750% | 4510000 | 4513143 |
| &nbsp;&nbsp;&nbsp;10/31/26, 3.700% | 1540000 | 1512065 |
|  |  | 14822812 |
| **TOTAL U.S. TREASURY OBLIGATIONS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $38,843,093)** |  | 39025929 |
| **TOTAL INVESTMENTS - 99.22%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $482,759,684)** |  | $585982915 |
| **Other Assets In Excess of Liabilities - 0.78%** |  | 4596912 |
| **NET ASSETS - 100.00%** |  | $590579827 |

---

*<sup>(a)</sup>* *Non-income producing security.*

*<sup>(b)</sup>* *Step bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect as of January 31, 2026*.

<sup>(c)</sup> *Floating or variable rate security. The rate shown is in effect as of January 31, 2026.*

Investment Abbreviations:

LLC – Limited Liability Company

LP – Limited Partnership

Ltd. – Limited

*Percentages are stated as a percent of net assets.*

See Notes to Schedules of Investments

The Disciplined Growth Investors Equity Fund

**SCHEDULE OF INVESTMENTS<br> January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **COMMON STOCKS - 99.45%** |  |  |
| **Consumer Discretionary Products - 3.91%** |  |  |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | 151726 | $3491215 |
| &nbsp;&nbsp;&nbsp;SharkNinja, Inc.<sup>(a)</sup> | 13950 | 1648890 |
|  |  | 5140105 |
| **Consumer Staple Products - 1.88%** |  |  |
| &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc.<sup>(a)</sup> | 47158 | 2474852 |
| **Health Care - 4.21%** |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.<sup>(a)</sup> | 19526 | 3183324 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.<sup>(a)</sup> | 3947 | 1990156 |
| &nbsp;&nbsp;&nbsp;Progyny, Inc.<sup>(a)</sup> | 15299 | 365187 |
|  |  | 5538667 |
| **Industrial Products - 0.83%** |  |  |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | 12474 | 1089354 |
| **Industrial Products - 11.61%** |  |  |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | 136476 | 5287080 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc.<sup>(a)</sup> | 18532 | 3114117 |
| &nbsp;&nbsp;&nbsp;Proto Labs, Inc.<sup>(a)</sup> | 59546 | 3135097 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | 10232 | 3746038 |
|  |  | 15282332 |
| **Industrial Services - 3.16%** |  |  |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings, Inc.<sup>(a)</sup> | 85332 | 4162495 |
| **Materials - 1.05%** |  |  |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | 7806 | 1379945 |
| **Media - 1.63%** |  |  |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software<sup>(a)</sup> | 9760 | 2150128 |
| **Oil & Gas - 4.20%** |  |  |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | 191334 | 5519986 |
| **Oil & Gas - 5.60%** |  |  |
| &nbsp;&nbsp;&nbsp;Core Laboratories, Inc. | 119254 | 2330223 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | 44843 | 5040802 |
|  |  | 7371025 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Retail & Wholesale - Discretionary - 3.58%** |  |  |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A<sup>(a)</sup> | 46220 | $3048671 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Inc., Class A<sup>(a)</sup> | 345141 | 1656677 |
|  |  | 4705348 |
| **Software & Tech Services - 5.25%** |  |  |
| &nbsp;&nbsp;&nbsp;Akamai Technologies, Inc.<sup>(a)</sup> | 52928 | 5141955 |
| &nbsp;&nbsp;&nbsp;SPS Commerce, Inc.<sup>(a)</sup> | 19684 | 1756994 |
|  |  | 6898949 |
| **Software & Tech Services - 8.05%** |  |  |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.<sup>(a)</sup> | 10523 | 2660951 |
| &nbsp;&nbsp;&nbsp;DoubleVerify Holdings, Inc.<sup>(a)</sup> | 60645 | 656179 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.<sup>(a)</sup> | 11131 | 2333169 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | 3302 | 1647434 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | 5671 | 584850 |
| &nbsp;&nbsp;&nbsp;Zeta Global Holdings Corp., Class A<sup>(a)</sup> | 146558 | 2723048 |
|  |  | 10605631 |
| **Tech Hardware & Semiconductors - 44.49%** |  |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.<sup>(a)</sup> | 60829 | 8621902 |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Inc., Class A | 23493 | 1508016 |
| &nbsp;&nbsp;&nbsp;Garmin Ltd.<sup>(a)</sup> | 32775 | 6608751 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | 15079 | 4922389 |
| &nbsp;&nbsp;&nbsp;IPG Photonics Corp.<sup>(a)</sup> | 16672 | 1540660 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc.<sup>(a)</sup> | 56444 | 4285228 |
| &nbsp;&nbsp;&nbsp;Plexus Corp.<sup>(a)</sup> | 39421 | 7857788 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. | 32273 | 1482622 |
| &nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class <sup>A(a)</sup> | 113667 | 7904403 |
| &nbsp;&nbsp;&nbsp;Semtech Corp.<sup>(a)</sup> | 65950 | 5259513 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.<sup>(a)</sup> | 133049 | 3873056 |
| &nbsp;&nbsp;&nbsp;Viasat, Inc.<sup>(a)</sup> | 103519 | 4675953 |
|  |  | 58540281 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $68,644,401)** |  | 130859098 |

---

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **MONEY MARKET FUNDS - 0.55%** |  |  |
| &nbsp;&nbsp;&nbsp;First American Treasury Obligations Fund, Class X, 3.600%<sup>(b)</sup> | 725314 | 725314 |
| **TOTAL MONEY MARKET FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $725,314)** |  | 725314 |
| **TOTAL INVESTMENTS - 100.00%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost $69,369,715)** |  | $131584412 |
| **Other Assets In Excess of Liabilities - 0.00%<sup>(c)</sup>** |  | 5177 |
| **NET ASSETS - 100.00%** |  | $131589589 |

---

See Notes to Schedules of Investments

The Disciplined Growth Investors Equity Fund

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Continued) (Unaudited)**

*<sup>(a)</sup>* Non-income producing security.

*<sup>(b)</sup>* *Rate disclosed is 7-Day Yield as of January 31, 2026.*

*<sup>(c)</sup>* *Less than 0.005%.*

Investment Abbreviations:

Ltd. – Limited

 

*Percentages are stated as a percent of net assets.*

See Notes to Schedules of Investments

Disciplined Growth Investors Funds

**NOTES TO SCHEDULES OF INVESTMENTS** 

**January 31, 2026 (Unaudited)**

**NOTE 1 - ORGANIZATION**

Elevation Series Trust (the "Trust") was organized on March 7, 2022, as a Delaware statutory trust, and is authorized to issue multiple investment series. The Trust is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. This report includes the Schedule of Investments for two series of the Trust, The Disciplined Growth Investors Fund ("DGIFX") and the Disciplined Growth Investors Equity Fund ("DGIQX") (each a "Fund" and collectively the "Funds"). DGIFX's investment objective is long-term capital growth and as a secondary objective, modest income with reasonable risk. DGIFX commenced operations on August 12, 2011, as a mutual fund that was a series of Financial Investors Trust (the "Predecessor Fund"). On April 17, 2025, the Board of Trustees of Financial Investors Trust approved a tax-free reorganization wherein all of the assets and liabilities of the Predecessor Fund were acquired by DGIFX. In connection with this acquisition as of the close of business on July 11, 2025, shares of the Predecessor Fund were exchanged for an equivalent number of shares of DGIFX. DGIFX's net assets of $549,301,050, net asset value ("NAV") per share of $24.80, shares outstanding of 22,148,151, and net unrealized appreciation/depreciation of $101,752,617, and the results of operations of the Funds were unchanged from that of the Predecessor Fund as a result of the reorganization. The Predecessor Fund had an investment objective that was, in all material respects, the same as that of DGIFX. DGIFX is a continuation of the Predecessor Fund, and therefore, the performance and financial history of the Predecessor Fund has been adopted by DGIFX and will be used going forward. As a result, the information in these financial statements and notes to the financial statements for the periods prior to the close of business on July 11, 2025, reflects that of the Predecessor Fund, which ceased operations as of the date of the reorganization. DGIQX's investment objective is long-term capital growth. DGIQX commenced operations on January 26, 2026.

The Funds currently offer an unlimited number of one class of shares.

**NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES**

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their Schedules of Investments. The accompanying Schedules of Investments were prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). This requires management to make estimates and assumptions that affect the reported amounts in the Schedules of Investments. Actual results could differ from those estimates. The Funds are an investment companies and follows accounting and reporting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Topic 946 "Financial Services – Investment Companies" including FASB Accounting Standards Update 2013-08.

**Investment Valuation:** The net asset value per share ("NAV") of the Funds is determined no less frequently than daily, on each day that the New York Stock Exchange ("NYSE") is open for trading, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern time). The NAV is determined by dividing the value of the Funds' total assets less its liabilities by the number of shares outstanding.

Equity securities traded on any exchange other than the NASDAQ Stock Market LLC ("NASDAQ") are valued at the last sale price on the business day. If there has been no sale that business day, the securities are valued at the mean of the most recent bid and ask prices on the business day. Securities traded on NASDAQ are valued at the NASDAQ Official Closing Price as determined by NASDAQ. Portfolio securities traded on more than one securities exchange are valued at the last sale price on the business day. Portfolio securities traded in the over-the-counter market, but excluding NASDAQ, are valued at the last quoted sale price in such market.

Investments in money market funds, including short-term investments, are generally priced at the ending NAV provided by the service agent of the funds. These securities will be categorized as level 1 securities.

The market price for debt obligations is generally the price supplied by an independent third-party pricing service, which may use a matrix, formula or other objective method that takes into consideration quotations from dealers, market transactions in comparable investments, market indices and yield curves. If vendors are unable to supply a price, or if the price supplied is deemed to be unreliable, the market price may be determined using quotations received from one or more broker–dealers that make a market in the security. Fixed-income obligations, excluding municipal securities, having a remaining maturity of greater than 60 days, are typically valued at the mean between the evaluated bid and ask prices formulated by an independent pricing service. Corporate Bonds, U.S. Government & Agency, and U.S. Treasury Bonds & Notes are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Publicly traded Foreign Government Debt securities and Foreign Corporate Bonds are typically traded internationally in the over-the-counter market and are valued at the mean between the bid and asked prices as of the close of business of that market. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Publicly traded foreign government debt securities are typically traded internationally in the over-the-counter market and are valued at the mean between the bid and asked prices as of the close of business of that market.

Securities for which market quotations are not readily available, including circumstances under which the Adviser determines that prices received are unreliable, are valued at fair value according to procedures established and adopted by the Fund's Board of Trustees (the "Board"). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the Fund's valuation designee with respect to the fair valuation of the Fund's portfolio securities, subject to oversight by and periodic reporting to the Board.

The Fund discloses the classification of its fair value measurements following a three-tier hierarchy based on the inputs used to measure fair value. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available.

Various inputs are used in determining the value of the Fund's investments as of the end of the reporting period. When inputs used fall into different levels of the fair value hierarchy, the level in the hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments. These inputs are categorized in the following hierarchy under applicable financial accounting standards:

Disciplined Growth Investors Funds

**NOTES TO SCHEDULES OF INVESTMENTS** 

**January 31, 2026 (Continued) (Unaudited)**

Level 1 – Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date;

Level 2 – Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and

Level 3 – Significant unobservable prices or inputs (including the Fund's own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

The following is a summary of the investments in the fair value hierarchy as of January 31, 2026:

**Disciplined Growth Investors Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $416517648 | $– | $– | $416517648 |
| Corporate Bonds |  | 120136219 |  | 120136219 |
| Foreign Corporate Bonds |  | 10303119 |  | 10303119 |
| U.S. Treasury Obligations | – | 39025929 | – | 39025929 |
| Total | $416517648 | $169465267 | $– | $585982915 |

---

**Disciplined Growth Investors Equity Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stocks | $130859098 | $– | $– | $130859098 |
| Money Market Funds | 725314 | – | – | 725314 |
| Total | $131584412 | $– | $– | $131584412 |

---

*<sup>(a)</sup>* *For detailed descriptions and other security classifications, see the accompanying Schedule of Investments.*

**Cash and Cash Equivalents:** Cash and cash equivalents may include demand deposits and highly liquid investments, typically with original maturities of three months or less. Cash and cash equivalents are carried at cost, approximates fair value.

**Securities Transactions:** Securities transactions are recorded as of the trade date.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80290

  - **Telephone number:** 8775249155

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

- **a. Name of Series:** The Disciplined Growth Investors Fund

- **b. EDGAR series identifier (if any):** S000093392

- **c. LEI of Series:** 529900MQVAFSFE6MYE63

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-01-31

**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:** $591061838.86

**Total Liabilities:** $390150.03

**Net Assets:** $590671688.83

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 205.83667862 | **1-Year:** 6928.90604928 | **5-Year:** 23885.78266384 | **10-Year:** 26309.73435067 | **30-Year:** 1399.21409522

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

- **3-Month:** 0.00000000 | **1-Year:** 215.37406761 | **5-Year:** 488.16960392 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261609 | -2.79%               | -1.62%               | 4.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $980566.54               | $-18633893.73                              |
| Month 2  | $0.00                    | $-9663090.64                               |
| Month 3  | $17846.51                | $22906030.80                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GE HEALTHCARE TECH INC        | GE HEALTHCARE GEHC 5.905 11/22/32     | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1503462.31   | 0.25%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| MSC Industrial Direct Co Inc  | MSC Industrial Direct Co Inc          | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |       567 | NS      | $47820.78     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                   | Paychex Inc                           | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     14733 | NS      | $1519414.29   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Simpson Manufacturing Co Inc  | Simpson Manufacturing Co Inc          | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               | CORP              | US        |     26206 | NS      | $4632696.68   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Stitch Fix Inc                | Stitch Fix Inc                        | CUSIP: 860897107<br>LEI: 549300TNHOVBOJZIYE72 | Long             | EC               | CORP              | US        |   1132674 | NS      | $5436835.20   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATL RESOURCES       | CAN NATURAL RES CNQCN 6.45 06/30/33   | CUSIP: 136385AE1<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   1507000 | PA      | $1636286.78   | 0.28%             | 2033-06-30      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC              | PUGET ENERGY PSD 4.1 06/15/30         | CUSIP: 745310AK8<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1692625.91   | 0.29%             | 2030-06-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC        | CENTERPOINT ENERGY CNP 4 1/4 11/01/28 | CUSIP: 15189TAV9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1271000 | PA      | $1260065.59   | 0.21%             | 2028-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Garmin Ltd                    | Garmin Ltd                            | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |    102763 | NS      | $20721131.32  | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS      | PUBLIC SERVICE PEG 5.45 04/01/34      | CUSIP: 744573AZ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |   1618000 | PA      | $1669648.26   | 0.28%             | 2034-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO               | DTE ELECTRIC CO DTE 6.35 10/15/32     | CUSIP: 250847DU1<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   1302000 | PA      | $1415934.73   | 0.24%             | 2032-10-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Gentex Corp                   | Gentex Corp                           | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |    463025 | NS      | $10654205.25  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc      | Microchip Technology Inc              | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    140427 | NS      | $10661217.84  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORP                   | AMEREN CORP AEE 5 3/8 03/15/35        | CUSIP: 023608AR3<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |   1530000 | PA      | $1567636.30   | 0.27%             | 2035-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Monday.com Ltd                | Monday.com Ltd                        | CUSIP: N/A<br>LEI: 984500MDAFVD86E3B328       | Long             | EC               | CORP              | IL        |     15021 | NS      | $1723659.75   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolby Laboratories Inc        | Dolby Laboratories Inc                | CUSIP: 25659T107<br>LEI: 549300X04FB2QPCJ5J24 | Long             | EC               | CORP              | US        |    134675 | NS      | $8644788.25   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC           | DOMINION RES D 7 06/15/38             | CUSIP: 25746UBD0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1336000 | PA      | $1510352.10   | 0.26%             | 2038-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SPS Commerce Inc              | SPS Commerce Inc                      | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     65645 | NS      | $5859472.70   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp     | Zeta Global Holdings Corp             | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |    486989 | NS      | $9048255.62   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Myriad Genetics Inc           | Myriad Genetics Inc                   | CUSIP: 62855J104<br>LEI: 52990044IHUOUMETT163 | Long             | EC               | CORP              | US        |      3015 | NS      | $16944.30     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corp                  | Semtech Corp                          | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |    185733 | NS      | $14812206.75  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                   | Trex Co Inc                           | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74683 | NS      | $3093369.86   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC               | XCEL ENERGY INC XEL 2.6 12/01/29      | CUSIP: 98389BAW0<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1714114.39   | 0.29%             | 2029-12-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS        | VERIZON COMM INC VZ 4.329 09/21/28    | CUSIP: 92343VER1<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1324000 | PA      | $1335572.59   | 0.23%             | 2028-09-21      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Generac Holdings Inc          | Generac Holdings Inc                  | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     62278 | NS      | $10465195.12  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Laboratories Inc         | Core Laboratories Inc                 | CUSIP: 21867A105<br>LEI: 984500040P5J07V43135 | Long             | EC               | CORP              | US        |    379469 | NS      | $7414824.26   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                | Proto Labs Inc                        | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |    269504 | NS      | $14189385.60  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| APPALACHIAN POWER CO          | APPALACHIAN PWR AEP 2.7 04/01/31      | CUSIP: 037735CZ8<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1413800.39   | 0.24%             | 2031-04-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO      | CAPITAL ONE FINL COF 2.359 07/29/32   | CUSIP: 14040HCG8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1487606.39   | 0.25%             | 2032-07-29      | Floating      | 2.36%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA           | BANK NOVA SCOTIA BNS 4 3/4 02/02/26   | CUSIP: 06417XAN1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   1225000 | PA      | $1225000.00   | 0.21%             | 2026-02-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO           | AMERICAN EXPRESS AXP 3.3 05/03/27     | CUSIP: 025816CP2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1243000 | PA      | $1236388.37   | 0.21%             | 2027-05-03      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                    | Intuit Inc                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      5482 | NS      | $2735079.44   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP          | BANK OF AMER CRP BAC 4.183 11/25/27   | CUSIP: 06051GGC7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1636000 | PA      | $1638316.18   | 0.28%             | 2027-11-25      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| Floor & Decor Holdings Inc    | Floor & Decor Holdings Inc            | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |    110485 | NS      | $7287590.60   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                   | Snap-on Inc                           | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |     29989 | NS      | $10979272.79  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CAROLINAS         | DUKE ENERGY DUK 6.1 06/01/37          | CUSIP: 26442CAA2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   1439000 | PA      | $1547868.74   | 0.26%             | 2037-06-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| InterDigital Inc              | InterDigital Inc                      | CUSIP: 45867G101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35128 | NS      | $11467184.32  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN ENER PART       | KINDER MORGAN EN KMI 6.95 01/15/38    | CUSIP: 494550AW6<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1589221.23   | 0.27%             | 2038-01-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER      | ENTERPRISE PRODUCT EPD 3 1/8 07/31/29 | CUSIP: 29379VBV4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   1735000 | PA      | $1684160.51   | 0.29%             | 2029-07-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| SharkNinja Inc                | SharkNinja Inc                        | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     47967 | NS      | $5669699.40   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO       | BRISTOL-MYER SQB BMY 6.8 11/15/26     | CUSIP: 110122AB4<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020363.68   | 0.17%             | 2026-11-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| FLUOR CORP                    | FLUOR CORP FLR 4 1/4 09/15/28         | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |    805000 | PA      | $799795.59    | 0.14%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC       | CRH AMERICA FIN CRHID 5 02/09/36      | CUSIP: 12636YAJ1<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1519192.03   | 0.26%             | 2036-02-09      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                | AMAZON.COM INC AMZN 1 1/2 06/03/30    | CUSIP: 023135BS4<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1531734.56   | 0.26%             | 2030-06-03      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO           | JPMORGAN CHASE JPM 4 1/8 12/15/26     | CUSIP: 46625HJZ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1329000 | PA      | $1332332.73   | 0.23%             | 2026-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| AT&T INC                      | AT&T INC T 4.35 03/01/29              | CUSIP: 00206RHJ4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   1621000 | PA      | $1632774.05   | 0.28%             | 2029-03-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| EASTERN ENERGY GAS            | DOMINION ENERGY BRKHEC 3 11/15/29     | CUSIP: 257375AP0<br>LEI: 549300BFOD6TDMVV4O24 | Long             | DBT              | CORP              | US        |   1788000 | PA      | $1697635.43   | 0.29%             | 2029-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 4 1/4 11/15/34      | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14282500 | PA      | $14350286.03  | 2.43%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC              | WELLTOWER INC WELL 4 1/8 03/15/29     | CUSIP: 95040QAH7<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |   1387000 | PA      | $1391381.84   | 0.24%             | 2029-03-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| INTERSTATE POWER & LIGHT      | INTERSTATE P&L LNT 3.6 04/01/29       | CUSIP: 461070AQ7<br>LEI: EF9UQIIO4KY2BWOK3P26 | Long             | DBT              | CORP              | US        |   1620000 | PA      | $1593732.25   | 0.27%             | 2029-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC          | KEURIG DR PEPPER KDP 5.3 03/15/34     | CUSIP: 49271VAV2<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |   1623000 | PA      | $1652279.23   | 0.28%             | 2034-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC          | USA WASTE SVCS WM 7 07/15/28          | CUSIP: 902917AH6<br>LEI: 549300YX8JIID70NFS41 | Long             | DBT              | CORP              | US        |   1446000 | PA      | $1548807.61   | 0.26%             | 2028-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP            | UNION PAC CORP UNP 2.4 02/05/30       | CUSIP: 907818FH6<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   1810000 | PA      | $1699219.35   | 0.29%             | 2030-02-05      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC             | L3HARRIS TECH IN LHX 5.35 06/01/34    | CUSIP: 502431AU3<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   1509000 | PA      | $1555557.99   | 0.26%             | 2034-06-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NEVADA POWER CO               | NEVADA POWER CO BRKHEC 6.65 04/01/36  | CUSIP: 641423BP2<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1488914.74   | 0.25%             | 2036-04-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Arista Networks Inc           | Arista Networks Inc                   | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    191449 | NS      | $27135981.26  | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORP                   | AMEREN CORP AEE 1 3/4 03/15/28        | CUSIP: 023608AK8<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11440.16     | 0.00%             | 2028-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| HUBBELL INC                   | HUBBELL INC HUBB 2.3 03/15/31         | CUSIP: 443510AK8<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1634064.56   | 0.28%             | 2031-03-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| TOLEDO EDISON COMPANY         | TOLEDO EDISON FE 6.15 05/15/37        | CUSIP: 889175BD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1391000 | PA      | $1513176.11   | 0.26%             | 2037-05-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| DoubleVerify Holdings Inc     | DoubleVerify Holdings Inc             | CUSIP: 25862V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    203836 | NS      | $2205505.52   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EMERSON ELECTRIC CO           | EMERSON ELECTRIC EMR 2 12/21/28       | CUSIP: 291011BQ6<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1616346.59   | 0.27%             | 2028-12-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION      | DEVON ENERGY DVN 5.2 09/15/34         | CUSIP: 25179MBG7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1512974.04   | 0.26%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 1 1/8 10/31/26      | CUSIP: 91282CDG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1540000 | PA      | $1512065.00   | 0.26%             | 2026-10-31      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| Akamai Technologies Inc       | Akamai Technologies Inc               | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |    177791 | NS      | $17272395.65  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc        | Alarm.com Holdings Inc                | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |    286792 | NS      | $13989713.76  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP               | CVS HEALTH CORP CVS 3 1/4 08/15/29    | CUSIP: 126650DG2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1738000 | PA      | $1679654.61   | 0.28%             | 2029-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ASTRAZENECA FINANCE LLC       | ASTRAZENECA FIN AZN 1 3/4 05/28/28    | CUSIP: 04636NAE3<br>LEI: 549300C3HATU4Q460S18 | Long             | DBT              | CORP              | US        |   1788000 | PA      | $1709035.57   | 0.29%             | 2028-05-28      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| WACHOVIA CORP                 | WACHOVIA CORP WFC 7.574 08/01/26      | CUSIP: 337358BH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1048000 | PA      | $1065864.95   | 0.18%             | 2026-08-01      | Fixed         | 7.57%                 | No            |                  2 | On Loan: No      |
| IPG Photonics Corp            | IPG Photonics Corp                    | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |     52189 | NS      | $4822785.49   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LOWE'S COMPANIES INC          | LOWES COMPANIES LOW 6.65 09/15/37     | CUSIP: 548661CP0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1442000 | PA      | $1625839.90   | 0.28%             | 2037-09-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CINTAS CORPORATION NO. 2      | CINTAS CORP NO.2 CTAS 6.15 08/15/36   | CUSIP: 17252MAG5<br>LEI: 549300QVUQTTKMTE0G41 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1290007.95   | 0.22%             | 2036-08-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP            | SOUTHWEST GAS SWX 2.2 06/15/30        | CUSIP: 845011AC9<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |   1906000 | PA      | $1742039.55   | 0.29%             | 2030-06-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc            | Coterra Energy Inc                    | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    642887 | NS      | $18547289.95  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP            | ENERGY TRANSFER ET 5 1/4 04/15/29     | CUSIP: 29278NAG8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1583000 | PA      | $1628859.51   | 0.28%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                   | SOUTHERN CO SO 4 1/4 07/01/36         | CUSIP: 842587CW5<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1579000 | PA      | $1477032.89   | 0.25%             | 2036-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                 | CITIGROUP INC C 6 7/8 03/05/38        | CUSIP: 172967EP2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1406000 | PA      | $1615230.01   | 0.27%             | 2038-03-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD      | BHP FINANCE USA BHP 5 1/4 09/08/33    | CUSIP: 055451BE7<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |   1490000 | PA      | $1542143.82   | 0.26%             | 2033-09-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 2 7/8 08/15/28      | CUSIP: 9128284V9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5530000 | PA      | $5437437.31   | 0.92%             | 2028-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MPLX LP                       | MPLX LP MPLX 2.65 08/15/30            | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   1834000 | PA      | $1700656.70   | 0.29%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Gentherm Inc                  | Gentherm Inc                          | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |       675 | NS      | $21573.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY LOUISIANA LLC         | ENTERGY LA LLC ETR 1.6 12/15/30       | CUSIP: 29364WBE7<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |     13000 | PA      | $11498.54     | 0.00%             | 2030-12-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| BLACK HILLS CORP              | BLACK HILLS CORP BKH 3.05 10/15/29    | CUSIP: 092113AR0<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |   1799000 | PA      | $1723178.73   | 0.29%             | 2029-10-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Gartner Inc                   | Gartner Inc                           | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     36216 | NS      | $7591235.76   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE         | UNITED PARCEL UPS 6.2 01/15/38        | CUSIP: 911312AJ5<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |   1461000 | PA      | $1616933.38   | 0.27%             | 2038-01-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| HORMEL FOODS CORP             | HORMEL FOODS CRP HRL 1.7 06/03/28     | CUSIP: 440452AH3<br>LEI: MSD54751OJP1FS2ND863 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1334098.88   | 0.23%             | 2028-06-03      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| RTX CORP                      | UNITED TECH CORP RTX 4.45 11/16/38    | CUSIP: 913017CW7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   1677000 | PA      | $1577377.73   | 0.27%             | 2038-11-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE           | DOW CHEMICAL CO DOW 7 3/8 11/01/29    | CUSIP: 260543BJ1<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |   1442000 | PA      | $1589535.10   | 0.27%             | 2029-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 3 3/4 08/31/26      | CUSIP: 91282CLH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4510000 | PA      | $4513142.61   | 0.76%             | 2026-08-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PPL ELECTRIC UTILITIES        | PPL ELECTRIC UTI PPL 6.45 08/15/37    | CUSIP: 69351UAH6<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1131747.54   | 0.19%             | 2037-08-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                     | ONEOK INC OKE 6 7/8 09/30/28          | CUSIP: 682680AB9<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1116000 | PA      | $1192564.84   | 0.20%             | 2028-09-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC         | DOWDUPONT DD 4.725 11/15/28           | CUSIP: 26078JAD2<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14270.99     | 0.00%             | 2028-11-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP           | NORTHERN TRST CO NTRS 3 3/8 05/08/32  | CUSIP: 665859AS3<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1579528.75   | 0.27%             | 2032-05-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC      | AGILENT TECH INC A 2.3 03/12/31       | CUSIP: 00846UAN1<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1741852.55   | 0.29%             | 2031-03-12      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| STARBUCKS CORP                | STARBUCKS CORP SBUX 4 11/15/28        | CUSIP: 855244AR0<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1571273.99   | 0.27%             | 2028-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENTERGY LOUISIANA LLC         | ENTERGY LA LLC ETR 5.35 03/15/34      | CUSIP: 29364WBM9<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   1487000 | PA      | $1546278.12   | 0.26%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL FINANCIAL GRP       | PRINCIPAL FINL PFG 3.1 11/15/26       | CUSIP: 74251VAM4<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |   1262000 | PA      | $1254746.71   | 0.21%             | 2026-11-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| VALERO ENERGY CORP            | VALERO ENERGY VLO 6 5/8 06/15/37      | CUSIP: 91913YAL4<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1567151.05   | 0.27%             | 2037-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 4 1/8 06/15/26      | CUSIP: 91282CHH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3670000 | PA      | $3677541.56   | 0.62%             | 2026-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software | Take-Two Interactive Software         | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     26143 | NS      | $5759302.90   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc        | Power Integrations Inc                | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |    163995 | NS      | $7533930.30   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                    | US BANCORP USB 3 07/30/29             | CUSIP: 91159HHW3<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1782000 | PA      | $1718198.43   | 0.29%             | 2029-07-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Plexus Corp                   | Plexus Corp                           | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |    112004 | NS      | $22325757.32  | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCE AUTO PARTS            | ADVANCE AUTO PARTS AAP 3.9 04/15/30   | CUSIP: 00751YAE6<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |   1462000 | PA      | $1351916.96   | 0.23%             | 2030-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 4 1/2 11/15/33      | CUSIP: 91282CJJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4300000 | PA      | $4415394.54   | 0.75%             | 2033-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA        | BP CAP MKTS AMER BPLN 4.893 09/11/33  | CUSIP: 10373QBV1<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |   1626000 | PA      | $1647989.98   | 0.28%             | 2033-09-11      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| LGI Homes Inc                 | LGI Homes Inc                         | CUSIP: 50187T106<br>LEI: 549300W02B4WNV8CV109 | Long             | EC               | CORP              | US        |     59443 | NS      | $2978688.73   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMONWEALTH EDISON CO        | COMMONWEALTH EDI EXC 2.95 08/15/27    | CUSIP: 202795JK7<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1285410.40   | 0.22%             | 2027-08-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL        | NEXTERA ENERGY NEE 3 1/2 04/01/29     | CUSIP: 65339KBJ8<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1399000 | PA      | $1375234.14   | 0.23%             | 2029-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pure Storage Inc              | Pure Storage Inc                      | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    379086 | NS      | $26361640.44  | 4.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                   | Cognex Corp                           | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |    458510 | NS      | $17762677.40  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWEST AIRLINES CO         | SOUTHWEST AIR LUV 3.45 11/16/27       | CUSIP: 844741BE7<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1300950.95   | 0.22%             | 2027-11-16      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC        | WILLIAMS COS INC WMB 5.15 03/15/34    | CUSIP: 88339WAC0<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1632000 | PA      | $1654499.45   | 0.28%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                | CLOROX CO CLX 3.1 10/01/27            | CUSIP: 189054AV1<br>LEI: 54930044KVSC06Z79I06 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1283747.69   | 0.22%             | 2027-10-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK         | TORONTO DOM BANK TD 1.2 06/03/26      | CUSIP: 89114TZD7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1340000 | PA      | $1328359.31   | 0.22%             | 2026-06-03      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                  | ENBRIDGE INC ENBCN 5.7 03/08/33       | CUSIP: 29250NBR5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1571000 | PA      | $1647838.52   | 0.28%             | 2033-03-08      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                    | FEDEX CORP FDX 2.4 05/15/31           | CUSIP: 31428XCD6<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |   1878000 | PA      | $1713417.75   | 0.29%             | 2031-05-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA          | ROYAL BK CANADA RY 4.305 11/03/31     | CUSIP: 78017DAQ1<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1494840.20   | 0.25%             | 2031-11-03      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC         | REPUBLIC SVCS RSG 2.3 03/01/30        | CUSIP: 760759AV2<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1677963.11   | 0.28%             | 2030-03-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP         | COSTCO COMPANIES COST 1.6 04/20/30    | CUSIP: 22160KAP0<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1651652.73   | 0.28%             | 2030-04-20      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC         | QUEST DIAGNOSTIC DGX 6.4 11/30/33     | CUSIP: 74834LBD1<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1638357.26   | 0.28%             | 2033-11-30      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Celsius Holdings Inc          | Celsius Holdings Inc                  | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155256 | NS      | $8147834.88   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B               | US TREASURY N/B T 4 1/2 07/15/26      | CUSIP: 91282CHM6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5100000 | PA      | $5120061.92   | 0.87%             | 2026-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                  | NISOURCE INC NI 5.35 04/01/34         | CUSIP: 65473PAQ8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   1648000 | PA      | $1699306.00   | 0.29%             | 2034-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Viasat Inc                    | Viasat Inc                            | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |    317838 | NS      | $14356742.46  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL RURAL UTIL COOP      | NATL RURAL UTIL NRUC 1.65 06/15/31    | CUSIP: 637432NX9<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |   2012000 | PA      | $1751842.91   | 0.30%             | 2031-06-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| SIMON PROPERTY GROUP LP       | SIMON PROP GP LP SPG 2.45 09/13/29    | CUSIP: 828807DF1<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              | CORP              | US        |   1822000 | PA      | $1724453.71   | 0.29%             | 2029-09-13      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| GATX CORP                     | GATX CORP GMT 5.45 09/15/33           | CUSIP: 361448BL6<br>LEI: 549300IHYHCQP2PIR591 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1678167.76   | 0.28%             | 2033-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Autodesk Inc                  | Autodesk Inc                          | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     31616 | NS      | $7994737.92   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC ENERGY GROUP INC          | WEC ENERGY GROUP WEC 1.8 10/15/30     | CUSIP: 92939UAE6<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   1957000 | PA      | $1744187.25   | 0.30%             | 2030-10-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| PHILLIPS 66                   | PHILLIPS 66 PSX 2.15 12/15/30         | CUSIP: 718546AW4<br>LEI: 5493005JBO5YSIGK1814 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1737117.63   | 0.29%             | 2030-12-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE        | ARIZONA PUB SERV PNW 5.55 08/01/33    | CUSIP: 040555DG6<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |   1546000 | PA      | $1614166.31   | 0.27%             | 2033-08-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Intuitive Surgical Inc        | Intuitive Surgical Inc                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     10623 | NS      | $5356329.06   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| EL PASO NATURAL GAS           | EL PASO NAT GAS KMI 7 1/2 11/15/26    | CUSIP: 283695BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1024138.37   | 0.17%             | 2026-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Progyny Inc                   | Progyny Inc                           | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50185 | NS      | $1197915.95   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSCANADA PIPELINES         | TRANSCANADA PL TRPCN 7 1/4 08/15/38   | CUSIP: 89352HAE9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   1190000 | PA      | $1367063.29   | 0.23%             | 2038-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Super Micro Computer Inc      | Super Micro Computer Inc              | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |    472928 | NS      | $13766934.08  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc          | Align Technology Inc                  | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     60366 | NS      | $9841468.98   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORPORATION     | Expand Energy Corporation             | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    141374 | NS      | $15891851.34  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP               | CMS ENERGY CMS 3.45 08/15/27          | CUSIP: 125896BS8<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   1374000 | PA      | $1363904.97   | 0.23%             | 2027-08-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Graco Inc                     | Graco Inc                             | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     28318 | NS      | $2473010.94   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INVESTMENT ENTER       | PFIZER INVSTMNT PFE 4.45 05/19/28     | CUSIP: 716973AC6<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |   1540000 | PA      | $1556427.20   | 0.26%             | 2028-05-19      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Elevation Series Trust

**Signature:** Nick Austin

**Name of Signer:** Nick Austin

**Title:** Treasurer